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The Mutual Life Insurance Company of New York Organized in New York State 1842. Began business 1843 The Record of 1908 The fiscal year ending December 31st was pre-eminently a prosperous one for the policyholders of this Company. In every material respect their interests have been advanced. Favorable features of the year may be noted as follows: The assets are now $539,038,968.13, an increase of $44,861,947.10. The total net reserve for outstanding policies and annuities is $433,137,. 716.00, an increase of $13,042,974.00. The reserve held for payment of deferred dividends and other contingencies (so-called "surplus") is $85,844,991.20, an increase of $28,314,221.75. The premium income for 1908 was $58,994,653.29, an increase of $2,355,453.09. The total income for 1908 was $84,880,026.81, an increase of $3,705,552.96. The new insurance paid for (not including revived) was $93,926,992.00, an increase of $45,206,942.00. The interest and rents received were $24,300,559.94, an increase of $1,466, 453!91. On the other hand, the death claims paid during the year were $21,664,819.77, a decrease of $1,629,213.04. Increased Dividends There has been appropriated for dividends to be paid 1n 1909 the sum of $11,092,282.38. This sum greatly exceeds the largest amount ever before paid as dividends in a single year by any company. The increase made in the annual dividends of The Mutual Life in recent years, as a result of changes and improvements instituted by the Board of Trustees, is unparalleled. Balance Sheet, December 31, 1908 ASSETS LIABILITIES Real Estate ........................................................ $26,196,029 64 Net Policy Reserve ............................................ $433,137,716 00 6,392,660 62 Mortgage Loans on Real Estate .................... 126,120,961 39 Other Liabilities on Policies............................ 1,826,692 47 Loans on Policies............................................ 63,048,558 17 Premiums and Interest paid in advance ........ 2,500,000 00 Dividends payable in 1909.............................. 11,092,282 38 Collateral Loans ........... ,........ ............................ 1,744,736 66 Bonds (book val.) and Stocks (market val. ) 309,279,002 09 Miscellaneous Liabilities.................................. 3,926,622 04 Held for future dividends and contingencies.. 85,844,991 20 Cash .................................................................... 3,850,766 03 Interest and Rents, due and accrued ........ .. .. 4,117,029 87 Premiums in course of collection .. ................ Admitted Assets .. ······-································$539,038,968 13 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Total Liabilities ............................................$639,038,968 13 THE MUTUAL LIFE INSUR~NCE COMPANY OF NEW YORK Home Office, 34 Nassau Street LEE, HIGGINSON & CO. 44 ST.A.TE STREET, BOSTON 43 EXCHANGE PLACE, NEW YORK THE ROOKERY - - - - CHICAGO Investment Securities Letters of Credit Foreign Exchange MEMBERS Boston, New York, Philadelphia and Chicago Stock Exchanges KOUNTZE BROTHERS BANKERS Letters of Credit Securities for Investment We are offering and recommending Railroad and Municipal Bonds suitable for Individuals, Trustees and Savings Banks. Our list may be had upon application. We also buy and se11 Government Bonds and execute orders in other securities for the usual commission. To those about to travel abroad we shall be pleased to send our Booklet describing the method of issue as well as the advantages of our Letters of Credit. We buy and sell Foreign Exchange. Collections We have unexceptionable facilities through a large list of active correspondents, both Foreign and Domestic, including those in Cuba, Porto Rico, and the Philippines, by which we are Accounts of Corporations enabled to make collections promptly and at the Firms and Individuals solicited, interest allowed minimum of cost. on deposits. Transfer of Funds made by cable, mail or Make Loans against approved collateral. telegraph to all parts of the world. 0.\l, BROADWAY https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis & CEDAR ST., NEw YoRK The Canadian Bank of Commerce HEAD OFFICE, TORONTO. $10,000,000 $6,000,000 CAPITAL PAID UP, RESERVE FUND WM. GRAY AND C. D. MACKINTOSH, AGENTS, NO. 16 EXCHANGE PLACE, NEW YORK, BRANCHES OF THE BANK IN CANADA.· British Columbia and Yukon.J • Cranbrook, • - • Creston, Dawson, Fernie, Greenwood, Kamloop!!, • Ladysmith, · Mission City, Nanaimo, Nelson, New Westminster, Pentlcton, Prince Rupert, Princeton, Revelstoke Vancouver, (4 offices) Victoria, White Horse, North Western Prov. Bawlf, Brandon, Calgary, Canora, Carman, Claresholm, Crossfield, B!N~~n, Drinkwater, Durban, Edmonton, Elbow Elgin, Elkhorn, Gilbert Plains, Gleichen, Grandview, Granum, Hardisty, High River, Humboldt, Innisfail, Innisfree, Kamsack, Langham, Lanigan, Lashburn, Leth bridge, Lloydminster, Macleod, Medicine Hat, Melfort, Melville Monarch Moosejaw, Moosomin, Nanton, Neepawa, Nokomis, North Battleford, Outlook Pincher Creek, Ponoka, Portage La Prairie, Prince- Albert. Radisson, Provost Red Deer, Regina, Rivers..1 IN LONDON: Saskatoon, Stavely, Stony Plain, Strathcona, Swan River, Treherne, Tugaske Vegreville, Vermilion, Vonda, Wadena Watrous Watson, Wetaskiwin, Weyburn, Winnipeg, (7 offices) Yellowgrass, Ontario and Quebec. Ayr, Barrie, Belleville, Berlin, QREAT 2 IN THE NBW YORK, SAN FRANCISCO, CAL., (2 offices) Blenheim, Brantford, Cayuga, Chatham, Cobalt, Collingwood, Crediton Dresden, Dundas, Dunnville, Exeter Forest Fort Frances, Fort William, Galt, Goderich, Guel:ph, Halllllton, Kingston, Latchford, Lindsay, London, Montreal (3 offices) Orangeville Ottawa (2 offices), Paris, Parkhill, Parry Sound, Peterboro, Port Arthur, Port Perry, Quebec, Rainy River, St. Catharines, Sarnia, Sault Ste. Marie, Seaforth, Simcoe, Stratford, Strathroy, Thedford Toronto (10 offices) Walkerton, Walkerville, Waterloo, West Toronto Wiarton, Windsor, Wingham, Woodstock. Maritime Provinces Alberton, Amherst, Antigonish, Barrington, Bridgewater, Charlottetown, Halifax, Middleton, Montague, New Glasgow, Parrsboro, St. John, Shelburne, Souris, Springhill, Summerside, Sydney, Truro, Windsor, BRITAIN. LOMBARD STREET, E. C. UNITED STATES. PORTLAND, ORE., SEATTLE, WASH., SKAGWAY, ALASKA. BANKERS IN CREAT BRITAIN. THE BANK OF ENGLAND, THE BANK OF SCOTLAND, LLOYDS BANK, Limited, THE UNION OF LONDON & SMITHS' BANK, Limited. CORRESPONDENTS. Belaium-Ba-nque D'Anvers. France-Credit Lyonnais. Germany-Deutsche Bank. Holland-Dhiconto Maatschappij. India, China, Japan and Philippine blands-The Chartered Bauk of India, Australia and China. Au1tralla and New Zealand-Union Bank of Australia, Limited; Bank of .Australasia. South AfricaBank of Africa, Limited; Standard Bank of South Africa, Limited. Sterling and Continental Exchange and Cable Transfers. Commercial and Travelers' Credits Collection1 made at all points. Hankin;- and Es:chan;-e business of every description ransacted with Canada. BROWN BROTHERS & CO., PHILADELPHIA, NEW YORK, BOSTON, 4th and Chestnut Sts. 59 WALL ST. 60 State St. AND ALEX. BROWN & SONS, Baltimore and Calvert Streets, Baltimore.· ALL CONNECTED BY PRIVATE WIRE. Member, of the New York, Phlladelphla, B01ton and Baltimore Stock Exchan;-e•. Investment Securities Certificates ot Deposit International Cheques Bills of Exchange Bought and Sold. Commercial Lettiers of Credit and Travelers' Letters of Credit issued, available in all parts of the world. Collections made on all points; Telegraphic Transfers of Money made between this Country and Europe. Deposit Accounts of Banks, Bankers, Finns and Individuals received upon favorable terms. BROWN, SHIPLEY & Co., LONDON, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Founders' Court, Lothbury, E. C., PD, ,OB THE OONVENIENOli: OJ' T~V~'!,SBB, 123 Pall Mill, I~ W, Wm. A. Read & Co. Bankers Members of the New York and Boston Stock Exchanges High Grade Investment Securities List of current offerings furnished upon application Commission orders executed in all the principal markets 25 Nassau Street, New York BOSTON BALTIMORE CHICAGO 19 Congress Street 203 East German Street 240 La Salle Street T. W. STEPHENS & CO. BANKERS 2 WALL STREET, - NEW YORK Investment Bonds INTEREST ALLOWED ON ACCOUNTS OF CORPORATIONS, FIRMS AND INDIVIDUALS, SUBJECT TO CHECK AT SIGHT GEORGE LEASK. JULIAN W. ROBBINS. :EDWIN M. LEAS"K, GEORGE LEASK & CO., 1'1Eltl.BER8 OP THE NEW YORK STOOK EXOHA.NGE, Bankers, 37 WALL STREET, NEW YORK. Stocks, Bonds and Investment Securities Bought and Sold on Commission. INTEREST ALLOWED ON BALANCES, SUBJECT TO DRAFT. DEALERS IN https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis COMMERCIAL PAPER LA THAM, ALEXANDER & Co., BANKERS AND COTTON COMMISSION MERCHANTS, Nos. 16 & 18 WALL STREET, N.EW YORK. CONDUCT A GENERAL BANKING BUSINESS. MEMBERS OF THE NEW YORK STO CK- AND COTTON EXCHANGES. Stocks, Bonds and Government Securities bought and sold on commission. Accounts of banks, bankers, merchants and individuals received, and Intere~t allowed on Daily balances, subject to check at sight. Contracts for cotton for future delivery bought and sold on commission. MAYNABD 0. EYRE, MILTON J. WHITELY. WILLIAM A. JENNINGS. JAMES WHITELY,} M. B. CAMPBELL, Specials. PRINCE & \7\THITELY, BANKERS AND BROKERS, No. 52 Broadway, New York, AND 15 CENTER STREET, NEW HAVEN, CONN. All Classes of Railway Stocks, also Grain, Provisions and Cotton, Bought and Sold on Commission. INVESTME N T SECURITIES A SPECIALTY. rirect Private Wires to Boston, New Haven, Chicago, Pittsburgh, Baltimore, and Richmond, Va. W. EUGENE KIMBALL. LEEDS JOHNSON. EST AB LISH ED 1865. R. J. KIMBALL & CO., BANKERS AND BROKERS, MEMBERS OF THE NEW YORK STOCK EXCHANGE - 7 NASSAU STREET, NEW YORK, . (HANOVER BANK BUILDING.> WILLIAM F .AHNESTOCK, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis THOMAS J, MUMFORJ>, Member of the New York Stock Exchange. ROBERT B. DODSON, FAHNESTOCK & CO., BANKERS AND BROKERS, (FIRST NATIONAL BANK BUILDING) No. 2 WALL STREET, NEW YORK. MOORE & SCHLEY, BANKERS AND BROKERS. No. 80 BROADWAY, NEW YORK. Members of the New York Stock Exchange. J. S. & R. D. FARLEE, MEMBERS OF THE NEW YORK STOCK EXCHANGE, No. Wall Street, 1I New York. I , BROKERS AND DEALERS IN INVESTMENT BONDS, STATE, MUNICIPAL AND APPROVED RAILROAD BONDS. On hand for Immediate Delivery, Suitable for Savings Banka, Trust JJv.nds and other Oomervative Inve.atmenu. CORRESPONDENCE SOLICITED. SIMON BORG & CO., BANKERS, NO. 20 NASSAU STREET, NEW YORK, . MEMBERS OF THE NEW YORK STOCK EXCHANGE. HIGH-GRADE INVESTMENT SECURITIES For Trust Estates, Institutions, Savings Banks and General Investors. Circular Upon Application. H. N. -W-HITNEY & SONS, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis BANKERS AND BROKERS, No. -17 , BROAD STREET, NEW YORK. <MILLS BUILDING.> MEMBERS OF NEW YORK STOCK EXCHANGE MISSISSIPPI VALLEY TRUST COMPANY ST. LOUIS Capital, Surplus and Profits, over $8,000,000 DIRECTORS: JOHN I . BEGGS, President United Rallways Company of St. Louts, President Laclede Gas Light Co., Pres. Milwaukee Light, Heat & Power Co. WILBUR F. BOYLE, Boyle & Priest. JAMES E. BROCK Secretary. AUGUST A. BUSCH, Vice-President Anheuser-Busch Brewing Ass. MURRAY CARLETON, President Carleton Dry Goods Co. CHARLES CLARK. HORATIO N. DAVIS, President Smith & Davis Mfg. Co. JOHN D . DAVIS, Vice-President. AUGUSTE B. EWING, DAVID R. FRANCIS, Francis, Bro. & Co. AUGUST GEHNER, President German-American Bank. S. E. HOFFMAN, aVice-President. WILLIAM G. LACKEY, Vice-President and Bond Ottlcer. BRECKINRIDGE JONES , President and Counsel. W . J. McBRIDE, Vice-President Haskell & Barker Car Co. NELSON W. McLEOD, Vice-President Grayson-McLeod Lumber Co. SAUNDERS NORVELL, President Norvell-Shapleigh Hdw. Co. ROBERT J. O'REILLY, M. D. WM. D. ORTHWEIN, President Wm, D. Orthweln Grain Co. HENRY W. PETERS, President Peters Shoe Co. H. CLAY PIERCE, Chairman Board Waters-Pierce OU Co. AUGUST SCHLAFLY August ScblaQy & Sons. R. H. STOCKTON President MaJestlo Mfg. Co. JULIUS S. WALSH, Chairman or the Board . ROLLO WELLS, Mayor or City or St. LoulB. AUGUST BELMONT & CO., BANKERS, NO. 23 NASSAU STREET. AGENTS AND CORRESPONDENTS OF THE Messrs. ROTHSCHILD, LONDON, PARIS A.ND VIENNA. ISSU_E LETTERS OF CREDIT FOR TRAVELERS, AVAILABLE IN ALL PARTS OF THE WORLD. Draw Bills of Exchange and make Telegraphic Transfers to EUROPE, Cuba, the other West bidies, Yf'xico and California. Execute orders for the purchase and sale of Bonds and Stocks. CUYLER, MORGAN & CO., https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 44 PINE STREET, NEW YORK. Accounts and Agency of Banks, Corporations, firms and individuals received on favorable terms Dividends and interest collected and remitted. Act as aients for corporations in paying coupons and dividends; also as transfer agents. Bonds, Stocks and Securities bought and sold on commission at the Stock Exchange or elsewhere. Sterling Exchange and Cable Transfers bouiht and sold. Represent Land Mortgage Companies both as Financial Agents and in the care of Investments, either Mortgages or Real Estate. DRAW ON BRITISH LINEN BANK , LONDON ARTHUR LIPPER & COMPANY BANKERS AND BROKERS Members of New York and Philadelphia Stock Exchanges and New York Cotton Exchange CORNER NEW STREET AND EXCHANGE PLACE, CABLE ADDRESS; KRASTENOLE NEW YORK ·"' SLIEBER'S CODES.,i HARTFIELD'S WALL ST. LEO SPEYER Member N. Y. Stock Exchange INVESTMENT SECURITIES 20 Broad Street, New York F. J. LISMAN & CO., Members New York Stock Exchange NO. 30 BROAD STREET, NEW YORK Investment Securities Safe Steam Railroad Securities, Paying from four to six per cent, constantly on hand Safe Coal Co. Bonds, paying from 5% to'- 7% Detailed descriptions on application We revise the CHRONICLE Quotations for unlisted Steam Railroad Securities and solicit correspondence on this subject. CABLE ADDRUS TELEPHONES 2794, 279~, 2796 BROAD, FARB~ANG NEW YORK LIEBER AND HARTFIELD'S WALL STREET CODES PHILADELPHIA BALTIMORE Land Title Building 614 American Building https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis HARTFORD,w[CON N 39 Pearl Street PAUL APPE ZELLAR RIC H A R D H. S WARTWO U T SWARTWOUT & APPENZELLAR Bankers INVESTMENT SECURITIES. INTEREST ALLOWED ON DEPOSITS SUBJECT TO CHECK CHICAGO First National Bank Building 40, 42, 44 Pine Street NEW YORK DALLAS 305 Main Street A. M. KIDDER & CO. BANKERS 18 WALL STREET, - NEW YORK (ESTAB LISH E D, 1865) Members of the New York Stock Exchange DEALERS IN HIGH-GRADE INVESTMENT BONDS ALSO SPECIALISTS IN TAX-EXEMPT GUARANTEED STOCKS Transact a general banking business , including the purchase and sale · of stocks and bonds on commission. ARTHUR 0. SLAUGHTER. PHILIP W. SEIPP. FRANK W. THOMAS. A. 0. SLAUGHTER & CO., BROKERS~ ( New York Stock Exchange, .New York Produce Exchange, New York Cotton Exchange, MEMBERS:~ New York Coffee Exchange, Chicago Stock Exchange, Chicago Board of Trade, St. Louis Merchants' Exchange. I I 139 MONROE STREET, NEW YORK LIFE BUILDING, CHICAGO. HIGH-CLASS INVESTMENT SECURITIES. PRIVATE WIRES TO NEW YORK, BOSTON, PHILADELPHIA AND OTHER PRINCIPAL POINTS. BERTRON, GRISCOM & JENKS BANKERS Land. Title _Building, PHILADELPHIA 40 Wall Street, NEW YORK INVESTMENT SECURITIES High-Grade Steam and Street Railroad, Gas and Electric-Light Securiiies, Netting from 4 to 6 per cent. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis HENRY W. SHOEMAKER. WILLIAM F. WHITEHOUSE, M~MBER N. v. STOOK: ExcK~NQI T . TOWAR BATES, MEMBER N. V. STOCK EXCHANG E SHOEMAKER, BATES & CO., BANKERS, MEMBERS NEW YORK STOCK EXCHANGE NEW YORK 37-43 WALL STREET, 500 FIFTH AVENU~ 205 LA SALLE STREET, CHICAGO 217 REAL EST ATE TRUST BLDG., PHILADELPHIA Investment Securities. PARKINSON & BURR, 53 STATE STREET, BOSTON. 7 WALL STREET, NEW YORK. MEMBERS OF THE BOSTON AND NEW YORK STOCK EXCHANGES. INVESTMENT SECURITIES BRIGHT, SEARS & CO., BANKERS AND BROKERS, 53 State Street, BOSTON. MEMBERS 65 Merrimack Street, LO WELL. OF BOSTON STOCK EXCHANGE, Connected by Private Wires with members of New York Stock Exchange. COMMISSION ORDERS EXECUTED IN ALL MARKETS Knauth, Nachod & Kuhne, BANKERS, NEW YORK LEI PZ IG MEMBERS OF NE W YO RK STOCK EXCHA NCE . LE fTERS OF CREDI T . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis TRAVELERS' CHECKS. INVESTMEN T SEC URI TIES. MAITLAND, COPPELL & CO., 52 WILLIAM ST., NEW YORK. TRANS.A.CT A GENERAL BANKING BUSINESS. ALLOW INTEREST ON DEPOSITS SUBJECT TO CHEQUE EXECUTE ORDERS FOR INVESTMENT : SECURITIE . ACT AS AGENTS OF CORPORATIONS AND NEGOTIATE AND ISSUE LOANS. OF BILLS EXCHANGE, TELEGRAPHIC TRANSFERS AND LETTERS OF CREDIT -ON- The Union of London & Smiths Bank, Limited, London, Messrs. Mallet Freres & Cie., Paris, Banco Nacional de Mexico, Mexico, and its branches. Banca Commerciale Italiano, Genoa, and its branches. AGENTS OF THE BANK OF AUSTRALASIA, BRITISH GUIANA BANK, ETC. United States Bonds, Railroad., Mu..n..icipal AND OTHER Investment Securities. HARVEY FISK & SONS, 62 Cedar Street, NEW YORK REPRESENTATIVES PHILADELPHIA, JAMES H. CHAPMAN , 421 Chestnut Street . OUR LIST https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis OF BOSTON, MASS., JOHN B. MOULTON, 35 Congress Street. INVEST MENT SECURITIES CHICAGO, ILL., D. K. DRAKE, Continental Nat. Bank Building. SENT ON APPLICA TIO THE FINANCIAL REVIEW. Oo::o::J merce, Fi:n..a:n..ce:, . Railroads. A:n..:n..-u..al-19 0 9 WILLIAM B. DANA COMPANY, PUBLISHERS COMMERCIAL & FINANCIAL CHRONICLE, FRONT, PINE AND DEPEYSTER STREETS, NEW YORK, Entered aooordtng t.o Act of Congress, in the year 1909, by WILLIAM B. DANA. OOMPA.NY, in office of Librarian of Congress, Waehlngto:P., D.~ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis C) c,. ' 't t "', RETROSPECT OF 19.08 1 _ ;'.} .,_ ., •. )- ;./· l 1 ________________________________________________________________________ Pa;ei Monthly Review of Current Event1k Money Market, Stock Market and Foreign Exchange______________________ __ 15 LISTING OF SECURITIES ON THEN W YORK STOCK EXCHANGE____________________________________ Principal Note Issues Sold · during 1908 __ __ ____ __ _______ _ - ______ __ ________________ ________________ --······ 33 35 CLEARINGS AND SPECULATION IN 1908 __ -- -- __ -- -- -- - - -- ---- -- -- ---- -- ------ ------ -- __ ------ -------- __ Sales of Stocks _______________________________________________________________________________________ 353& FAILURES IN 1908 _________________ _ -- -- -- -- -- -- -- -- -- -- -- -- -- ---- -- -- -- -- ---- -- -- -- -- -- ---- -- ---- ____ Failures by Branches of Business ____________________ -- __ -- __ ___ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ Yearly Failures Since 1857 ____________________________________________________________________________ 37 38 38 Detailed Statement of Failures in United States and Canada in 1908________________________________________ 39 . 1; · -,,:·r.V~ oAN BANKING, FINANCE AND CURRENCY __ -------------- -- ---------------------- --------- ---------------- 40 Money Market for Three Years __ __ ___ ______________ ____ ____ ______ ________________ __ ______ ___________ _40-41 New York City Bank Movements-Averages for Week and Actual End of Week_______ ________________ ______ 41 Weekly Returns of Trust Companies _____ ____ __________ _____________________ __ _______ __________ ____ ____ 42 Combined Loans and Money Holdings of Banks and Trust Companies ______________ ______ __ __ ____ .:_________ 42 CROP AND OTHER PRODUCTIONS-OUR HARVESTS IN 1908 __ __ __ __ __ __ __ __ __ __ __ __ ___ __ __ __ __ __ __ __ 43 The Crops for a Series of Years _______________________________________________________________________ _43-44 Steel Rail Production in 1908 __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ 44 Bessemer Steel Output__ __ ___ ____ ___ ____ ________ ___ _ ____ __________ _______ _ ________ __________________ Pig Iron Production and Prices________________________________________ __ _______________________________ Anthracite Coal Production____________________________________________________________________________ 45 45 47 GOLD AND SILVER-Review of Gold and Silver Production ____ ------------------------______________________ 48 Product of Gold in United States, Africa, Australasia, Russia, &c _________________________________________ -48-49 World's Gold Production since 1881 ____ __ __ ___ __ ______ __ __ __ __ __ __ __ __ __ __ __ __ ____ ____ __ __ __ ______ ______ 49 World's Silver Production since 1891-_ __ ____ __ __ __ ____ __ __ __ ____ __ __ __ __ __ __ ____ __ __ __ __ __ __ ______ ____ __ 50 Silver Quotations in London, Monthly from 1837 to 1908 _____ ____________________________ ·__ __ __ __ __ __ __ __ __ 51 GREAT BRITAIN-BANKS AND TRADE_________________ _______________________________________________ 52 Review of the Year's Influences and Events______________________________________________________________ 52 British Imports and Exports___________________________ ________________________________ _______________ 52 Statements of Bank of England and Bank of France-Also Money Rates at Continental Cities ____________________ 54-55 TRADE AND COMMERCE-Our Foreign Trade in 1908-Calendar Year________________________________________ Values of Exports and Imports by Fiscal years, 1877-1908__ __ __ __ __ __ __ __ __ __ __ __ __ __ __ ____ ____ __ __ __ __ __ __ 56 58 Exports of Leading Articles of Domestic Produce for Three Years___________________________________________ Imports of Leading Articles of Merchandise for Three Years________________________________________________ 58 59 Comparative Prices of Merchandise, 1860, 1879 and 1905-1909 _________ ------------ - ------------------------ 59 FOREIGN EXCHANGE-Daily Prices in New York in 1908 ---------- ____ -------------------------------------- 60 UNITED STATES DEBT, MONEY AND SECURITIES-Debt of the United States, 1793-1908___________________ Detailed Statement of Public Debt on December 31 1908 ____ ____ __ __ ____ __________ __ ___ ____ __ ____ ______ ____ Treasury Money Holdings ____________________________________________________________________________ Stock of Money in Country __________________________________________________________________________ 61 61 61 61 Highest and Lowest Prices of United States Bonds, Monthly, 1860-1908 ____________________________________ 62-66 FOREIGN GOVERNMENT SECURITIES-Highest and Lowest Quotations, Monthly, 1904-1908__________________ 66 STATE SECURITIES-Highest and Lowest Quotations of State Securities, 1860-1908 __________________________ 67-69 Prices of State Securities Monthly for Year 1908__ ____ __ __ ___ _ __ __ __ __ __ __ __ __ __ ______ _____ __ __ ______ __ __ 69 RAILROADS AND THEIR SECURITIES-Railroad Statistics for the United States ______________________________ 70 Mileage, Capitalization, Wages, Passenger and Freight Statistics __________________________________________ 7~71 Earnings, &c., Fiscal Years Ending June 301890-1907 ----- - ----- - ---------------------------------------- •72 Railroad Earnings in 1907 and 1908____________________________________________________________________ 73 Railroad and Miscellaneous Bonds in New York, 1904-1908-Prices Monthly _______________________________ 75-107 Railroad and Miscellaneous St ocks in New York, 1904-1908-Prices Monthly _____________________________ lQ7-123 Railroad and Miscellaneous Bonds in Bost on, 1908-Highest and Lowest Prices Monthly _____________________ 123-124 Railroad and Miscellaneous St ocks in Bost on, 1908-Highest and Lowest Prices Monthly ___________________ l24-125 Railroad and Miscellaneous Bon ds in Phila delphia , 1908-Highest an d Lowest Prices Monthly _______________ l26-127 Railroad and Miscellaneous Stocks in Phila delphia , 1908-Highest and Lowest Prices Monthly _________________ 127 Railroad and Miscellaneous Bonds in Baltimore, 1908-Highest and Lowest Prices Monthly ________ _________ l28-129 Railroad and Miscellaneous St ocks in Balt imore , 1908-Highest and Lowest Prices Monthly ____________________ 129 Railroad and Miscellaneous Bonds in Chicago , 1908-Highest and Lowest Prices Monthly ______________________ 129 Railroad and Miscellaneous St ocks in Chirago , 1908-Highest and Lowest Prices Monthly ______________________ 130 RAILWAY AND INDUSTRIAL SECTION.-(Issue of Jan. 30 1909 bound up witl=r'the Review) ____________ Appendix https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis VOLUME AND COURSE OF TRADE . .ANNUAL .A.ND MONTHLY RESULTS. RETROSPECT OF 1908. In traJe and mercantile affairs the year 1908 was one of intense depression, relieved only by partial recovery the latter part of the year. It is probably no exaggeration to say that the industrial paralysis and prostration was the very worst ever experienced in the country's history. The iron trade is one illustration; there the output month after month ran only a little in excess of 50% of what the monthly i otals had been in 1907 when at their maximum, and the aggregate product for the first half of 1908 was only 6,918,004 tons, against 13,478,044 tons in the first half of 1907. On-the other hand, in financial circles and in monetary affairs, and on the Stock Exchange, the year was one of steady revival of confidence , almost from beginning to end, forming in that respect a sharp contrast with that complete loss of confidence which distinguished 1907, and which eventuated in the financial upheaval in the· closing months of 1907 that threw the whole civilized world into confusion. The revival of confidence during 1908 made steady headway, notwithstanding the tremendous depression in trade , the lack of employment for labor, the loss of profits everywhere and the unparalleled shrinkage in the revenues of the country's rail transportation lines. We shall understand the reasons for the recovery in 1908 if we bear i.n mind the reasons for the antecedent loss of confidence. Ad verse legislation, national and State, directed against railroads primarily, but also against corporations generally; political attacks against men of wealth and against organized capital; the serious advocacy of political and economic doctrines which would completely change the theory of our Government and revolutionize social relations-these and kindred matters had threatened the security and stability of in vestment values. More than that, they had served to reduce the earning capacity of important undertakings and were threatening to reduce the same still further, and had made investors and capitalists fearful about entering upon new ventures, or extending further aid to existing undertakings; in a word, had induced a withdrawal of capital from the ordinary and customary channels and had brought enterprise to a halt. During 1908 this movement, so detrimental to the country's industries, received a severe check, or at least it became plain that it could not be carried much further. The courts made it clear that there was a Hmit set by the Constitution beyond which the legislator could not go, and the legislator himself showed by his course that he was unwilling to go much further in the wrong direction. As far as the States are concerned, there was relatively .l ittle additional legislation of the type which proved so disturbing during 1907, and in some of them the 2-cent passenger rate laws were considerably modified. As far as the Federal Government is concerned, President Roosevelt kept up his activities , and showed in many different ways that he had experienced no change of heart and that in his attitude and conduct he wa.s still controlled by the https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis same spirit and animated by the same desires as in the past. But the effects of his action were entirely different from what they had been before. They were no longer productive of results. His arguments and urgings fell upon deaf ears. Congress could not be got to enact the laws which he so vehemently demanded. There were many manifestations of the. President's activities and at times these served for the moment to put a damper upon the growing feeling of confidence. The remarkable special message which he sent to Congress on Jan. 31, embodying propositions for new legislation and attacking men of wealth, was one of the most extraordinary documents ever sent to a legislative body. The President's action was also seriously disturbing when in February, at a time when the railroads, by reason of the frightful losses in earnings which they were experiencing, were considering the matter of reducing wages, he sent a letter to the Inter-State Commerce Commission making threats of hostile action by the Government in case they took steps of that kind. Again, it was very disturbing the following July when he directed the Inter-State Commerce Commission to avail of its powers to prevent an advance in freight rates on the Eastern trunk lines. This placed these lines in an awkward dilemma . . Their earnings were falling off in an appalling way, but they could neither reduce wages nor advance rates . There were other occasions when the action of the National Government, and its manifestation of the old spirit , tended to keep in check the revival of confidence, but it is unnecessary to enumerate them here. The all-controlling fact was that the President's tenure of office was getting shorter and shorter, and that he had utterly failed to get Congress to enact new radical laws. The National Legislature had adjourned the previous May after a refusal to put on the statute books the measures especially desired by the President regarding labor and trust legislation. In particular the Anti-Injunction Bill, limiting the power of the courts to issue injunctions, and the bill for amending the Sherman Anti-Trust Law so as to give the Federal authorities absolute and arbitrary control over all corporations engaged in business between the States, were kept off the statute books-not even having come to a vote. There were also some indications, off and on, that public sentiment was changing. One case was the defeat at the primaries in Georgia of Governor Hoke Smith for re-election because of his radical course towards the railroads. Most important of all, one Court decision after another was being handed down, all going to show that the courts would not give sanction to attempts to undermine or disregard Constitutional safeguards and privileges . The decision January 6 of the U. S. Supreme Court holding the Employers' Liability Act of Congress unconstitutional was not, perhaps , very important , except that it showed that the Court would insist on careful observance of Constitutional provisions, even in small details . The Act was held invalid because it failed to distinguish between traffic 12 RETROSPECT . :among the States and traffic within the State. The ~ondemnation on January 27 of Section X of the Erdman Law of 1898, which sought to impose upon inter-State carriers conditions regarding the employment of labor, was of wide significance and bearing. The Court held that the provision referred to was an invasion of personal liberty, an interference with the freedom of contract, and beyond the scope of Congress, inasmuch .as there is no connection between membership or nonmembership in a labor organization and the regulation of inter-State commerce. The next month, February 3, there came the ruling that a boycott by labor unions was an unlawful conspiracy in restraint of commerce under the provisions of the Anti-Trust Law of 1890. This judgment was concurred in by all the members of the Court. On March 23 the U. S. Supreme Court disposed of two of the celebrated cases where States had sought to impose upon carriers non-compensatory rates and charges, and had attempted to deny access to the courts by extraordinary fines and penalties. The Court by a vote of 8 to 1 condemned these laws. In July there came another Court decision of the highest importance. This was by the U. S. Circuit Court of Appeals at Chicago. It set aside the fine of $29,240,000 imposed on the Standard Oil Co. of Indiana by Judge Landis in August of the previous year. All of the three judges concurred in the decision and Judge Landis was reversed on practically every leading point. In September the U. S. Circuit Court of Appeals at Philadelphia declared unconstitutional what is known as the Commodity Clause of the Hepburn Rate Law of 1906. In December the U. S. Supreme Court declared that the IntP.r-State Commerce Commission could not compel answers to questions which had been put to E. H. Harriman and Otto H. Kahn in a general investigation the previous year. This decision was of great moment, inasmuch as it showed that the Commission had no general inquisitorial powers. Nor should we omit mention of the severe penalty imposed in December upon certain labor leaders by the Supreme Court of the District of Columbia for violating injunction orders. There has been stm another circumstance that contributed in a most powerful way to the restoration of confidence. It has been the attitude of the country's leading banking and financial interests. Through a long course of ad verse legislation the credit of the railroads had been almost destroyed. The bankers proceeded to build it up. They had monetary ease in their favor, but on the other hand a shrinkage in railroad revenues was going on that has no parallel anywhere. In April Mr. E. H. Harriman came to the assistance of the Erie RR. at a most critical juncture, averting a receivership for that property-a movement in which J . P. Morgan & Co. co-operated. The next month the latter firm came to the rescue of the Southern Ry. and organized a syndicate which took $15,000 ,000 3-year 6% notes of that company to provide for its very urgent needs. These were among the most important railroad events of the year. It showed not only that leading financi al interests were willing and ready to help embarrassed railroads , but , as a necessary corollary, that they had faith in the future of railroads and that they felt that there was little likelihood of further harm from political quarters . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis In a way the outcome of the Presidential election was also encouraging. Mr. Taft professes the same views and opinions as Mr. Roosevelt, but at least he has a judicial temperament, is believed to be much less impulsive, and furthermore he was so immensely to be preferred to Mr. Bryan that the whole country breathed a sigh of relief when Mr. Bryan's defeat was made certain. The satisfactory agricultural yields were undoubtedly an aid in promoting the revival of confidence. The cotton crop will be 1½@2 million bales in excess of the crop of 1907-08, while the aggregate production of corn, wheat, oats, barley and rye is figured at 4,339,000 ,000 bushels, against 4,166,000,000 bushels in 1907. Prices, too, are ruling fully as high as a year ago, except in the case of cotton. In the general trade depression the railroads suffered beyond all other industries. A statement published by us on subsequent pages shows a loss in gross earnings for the twelve months ending Dec. 31 of $290 ,140,542 on 205,129 miles of road , from which it is evident that for the whole railroad system, comprising over 230,000 miles of road, the loss for these twelve months must have been over $325,000,000. The shrinkage kept growing in magnitude during the first six months , and in May and June the falling off was at the rate of $600 ,000,000 a year. After that, however , the losses gradually diminished , though they were still large on t he roads running t hrough the manufacturing districts, like the Pennsylvania RR. At first the railroads found it difficult to offset the heavy losses in gross receipts even in part by economies in their expense accounts, but the latter part of the year they got control of their expenses and, beginning with September, reductions in the disbursements overtopped the losses in gross receipts. This enables them to make a better showing for the twelve months than at one time seemed possible. Necessarily there were dividend reductions and suspensions, but the number and extent of these was smaller than appeared likely. Receiverships also were less than had been feared. These latter, aside from the Seaboard Air Line and the Chicago Great Western, which came very early in the year , comprised chiefly the minor Gould roads, like the Wabash-Pittsburgh Terminal Ry., the Western Maryland and the Wheeling & Lake Erie. In money matters there was world-wide ease, which is tantamount to saying that business depression, so conspicuous in the United States, extended to all the civilized countries, thus limiting and restricting the demand for money. At the beginning of 1908 the official minimum of the Bank of England was still 7% , that of the Bank of Germany 7½% and that of the Bank of France 4% . These rates were successively marked down until the Bank of England minimum reached 2½ % , that of the Bank of Germany 4% and that of the Bank of France 3% . At no time during the year was there an increase in the official rate of any of these leading banks. It unfortunately happened more than once that there was a recurrence of friction between France and Germany regarding Casablanca affairs; and of course the upheaval in the Balkans, which came in the autumn, when Turkey was deprived all of a sudden of her suzerainty over Bulgaria, Bosnia and Herzegovina, was one of the events which threatened momentous consequences, and which , therefore, was reflected on the European RETROSPECT. bourses and money markets. Fortunately, war was .-a verted, so that even the influence of this occurrence .never assumed any great importance in money circles .and quickly passed altogether away. One of the striking developments of the year was the noteworthy additions to their bullion holdings made by the leading European banks. The limited mer,.cantile and financial demand for money of course .facilitated this movement. The Bank of France ..all through the year was a persistent bidder for the .South African and other gold arrivals in London, and ,during the twelve months added over £32,000,000 to its gold holdings. The Bank of Germany made an :addition of £13,000,000. The Bank of England shows a loss for the twelve months. At all the European banks combined there has been an increase during the fifty-two weeks from £400,453,866 .to £455,094,480. At ew York there was never the slightest flurry in -money. After the latter part of January the rate for ,call loans on the Stock Exchange never got higher -than 3% until December, and during the summer, when there was extreme congestion of funds, call loans ;for days at a time ruled no higher than ¾ of 1% per annum. In December the rate on one day got .as high as 4½ % . Congress, just before adjournment, passed the Aldrich-Vreeland Currency Bill, providing for an emergency currency in times of stress by means of a sort of double-barreled action-on the direct :initiative of the banks with State and municipal bonds as security and through local currency .associations secured by segregated portions of the general assets. There was, however, never the slightest occasion for availing of these new facilities for issuing bank notes. On June 27 surplus reserves of the New York Clearing-House banks were $68,.233 ,025-the highest figure in fourteen years. Money holdings at that time were $396,480,200; by August 22 they had increased to $412,523,100, which was ·the maximum for the year. Surplus reserves at that ,date, however, were only $65,170,050. By Dec. 26 money holdings were only $344,911,300 and the -surplus was $18,269,675. It is important to note that under new laws passed by the New York Legislature, trust companies and also banks of loan and ·.discount are obliged to hold larger cash reserves in their own vaults and that on December 26 the total -of the money holdings of the State banks and trust •companies, outside of those in the Clearing House, .aggregated $108,401,800, as against $49,025,700 on February 8 1908, when these weekly returns were ·first furnished by the State Banking Department. On account of the business depression there was a .great shrinkage in Government receipts, while on the -other hand the disbursements were largely increased. As a consequence, there was a deficit reaching for the -twelve months ending Dec. 31 no less than $114,624,-000. The Government made large recalls of deposits of public funds from the banks on repeated occasions during the year, so that on Dec. 31 1908 the deposits of public funds with the banks aggregated only $123 ,928 ,436, as against $256,920 ,155 on J an. 1 1908. Government money holdings in Sub-Treasuries Dec . 31 were $313,175,726, against $274,506 ,495 Jan. 1. In November the Government sold $30,000,000 of 2% Panama Canal Bonds , reinforcing its cash holdings to that extent. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 13 On the Stock Exchange the revival of confidence was reflected in a most pronounced way. As 1907 was marked by frightful collapses in security values, so 1908 was distinguished by recoveries hardly less noteworthy in extent. The upward movement may be said to have been in progress all through the year, gaining force and impetus with the favorable court decisions that came one after another and with the success attending the numerous large new loan flotations by railroad and other corporations, and with continued ease in money. In the closing months of the year, after the defeat of Mr. Bryan, the upward movement assumed the proportions of a veritable boom. There were really only two months in the year when the upward course was seriously interrupted, namely in February and in September. On both occasions the causes were entirely political. In February prices suffered from the ill effects of President Roosevelt's special message of Jan. 31 and also from the President's letter to the Inter-State Commerce Commission concerning reductions in the wages of railroad employees. The feeling of depression at this time was intensified by the action of various public men and political leaders in renewing their attacks on corporate interests. A fear then began to spread that the crusade, so destructive in the two years preceding, would be continued, but cumulating evidence going to show that the courts would uphold Constitutional guaranties soon dispelled these fears. In September despondency again settled over the market, owing to the fact that Mr. Roosevelt injected himself so prominently into the campaign as champion of Mr. Taft, and that he and Mr. Bryan were vying with each other in ad vacating radical policies and doctrines. On the latter occasion the break in values reached serious proportions, and the fluctuations in prices were so wild and erratic that they have rarely been paralleled except in times of actual panic. The market was suffering from a genuine political scare. In October, however, hope again revived and it never thereafter disappeared. Taking the year through , and the whole list of stocks, the best prices for the twelve months were quite generally registered either in November or December-most largely in the latter month. In the early part of the year it was chiefly the standard stocks that advanced, but later the low-priced shares were the most conspicuous features. Among these latter, Chicago & Alton common stands out, perhaps, as prominently as any. From 10 in February this stock reached 68½ on Dec. 31. Toledo St. Louis & Western, by which the Chicago & Alton is controlled, shows a rise in common stock from 12 to 50. Among the better class of properties, Atchison common sold up from 66 to 101¼; Baltimore & Ohio common from 76½ to 111½; New York Central from 90½ to 126; Pennsylvania from 108¾ to 132¼; Reading common from 92½ to 143¼; Southern Pacific common from 66¼ to 122½; Union Pacific common from 110½ to 184½ ; Louisv. & Nashv. from 87¼to 125¾, &c., &c. Among the industrial properties, Steel common advanced from 25¾ to 58¾; Steel preferred from 87½ to 114% ; National Lead common from 36 to 92, though in this last instance the high point was reached in August, and the close was only 77½; General Electric rose from 111 to 162¾ and Amalgamated Copper from 45½ to 88%. In a word, a most note- RETROSPECT. 14 worthy improvement occurred in all classes of share properties. The fact that the whole range of. stocks participated in the tremendous rise is made apparent in the following table, showing the high and low points for the year, and the opening and closing prices, for each of a large number of stocks, arranged in groups. RANGE OF LEADING STOCKS IN 1908. Openinu. Trnnk LinesBaltimore & OhJo ______ Boston & Albany ______ Clev. Cln . Chlc. & St. L_ Erle _ _ _ __ - - - - - - - - - - N. Y. Cent. & Rud. Riv. N. Y. ChJc. & St. Louis_ Pennsylvania _________ Wabash ______________ Coal RoadsCentral of New Jersey __ Delaware Lack . & West. Delaware & Hudson ___ Lehigh Valley _a _______ N. Y. Ontario & West __ Reading ____ · ---· ____ _ Western and Pacific-Canadian Pacific _______ ChJca~o & Alton ____ __ Chicago Great Western_ Chlc. Mllw. &: St. PauL_ ChJc. & North Western_ Colorado & Southern ___ Denver & Rio Grande __ Great Northern, pret_ __ Illlnols CentraL _______ Minn. St. P. & S.S. M __ Northern Par-ific _______ Rock Is1and Company __ Preferred Southern Paclftc Co ____ Toledo St . Louts & West Union Paclftc _________ Southwe~ternAtch. Top . &: Santa Fe_ Kansas City Southern __ Mo . Kansas &: Texas __ . Preferred ___________ Missouri Pacific _______ St. L. & S . Fr., 2d preL St. Louis So•1thwestem_ Texas &: Pacific _______ Southern RoadsChesapeake & Ohio ____ Louisville & Nashville __ Norfolk &: Western ____ Southern Railway_ b- __ Preferred_ b-- _______ MiscellaneousAmalgamated Copper __ Amer. Car &: Foundry _ American Cotton OIL __ American Locomotive .. _ Amer. Smelt. & Refining Amer. Sugar Refining __ Lowest. Clos- inu. Highest. Dec. Dec. Dec Nov. Dec. Dec. Dec Dec. 81 ¾ 181 ½ 55 16 ¾ 90¼ 24½ 109 10¼ 76 ½ 181 ½ 47 ½ 12 90 ¾ 24½ 108 ¾ 6¾ Feb. Jan. June Mch. Jan. Jan. Jan. Mch. 10 2 17 6 2 3 2 3 165 420 147½ 57¾ 32 ½ 94 ~4 160 420 141 ½ 52 ¾ 29 ¾ 92 ¾ Feb. Jan. Feb. Feb. Feb. Feb. 11 220 Dec. 17 228 Nov. 10 559 6 575 10 181 ~ Dec. 29 181 20 76 I Dec. 31 76 ¾ 19 46 ½ 47½ Dec. 10 17 143¼ Dec. 11 142¾ 154 13¼ 8 104¼ 135½ 23 ¼ 20¾ 116 123 79¼ 117 ½ 15 28 x71¼ 14 ¾ 117 Feb. Feb. Feb. Jan . Jan. Feb. Feb. Feb. Feb. Jan. Jan. Feb. 20¾ Feb 66¼ Feb. Feb. 12 110½ Mch. 140 10 3¾ 103½ 135½ 21 14¼ 113 ¾ 122½ 79¼ 116½ 10½ 17 13 8 2 2 19 19 10 17 2 2 3 3 17 6 2 111 ¼ 230 70½ 36 126 57½ 132¼ 20 ¾ lR0¾ 68¼ 14¾ 152½ 185½ 59 40½ 148¼ 149¾ 135 H\7¾ 25¼ 62% 122½ 50 184½ Nov. Dec. Nov. Dec. Dec. Dec. Den. Dec. Nov. Nov. Nov. Dec. Dec. Dec. Dec. Nov. 14 110½ 11) 226 14 70 11 34¾ 31 125 ¾ 56 24 30 132 22 19¼ 18 31 17 2 29 9 30 29 17 16 18 2 28 30 31 27 177 68 11¼ 151 183½ 57¾ 39¾ 147 ¾ 148 132¾ 142¾ 24¾ 61 ½ x120¾ 48 ½ 183¾ 14 ½ 19¼ 66 18 17 ½ 46 28½ 19¼ 10 12¾ Feb. Feb. Mch. Feb. Feb. Feb. Mch. Feb. 14 101 ¼ Dec. 29 100 ¾ 25 42% Dec 28 40¾ 2 42 43½ Dec 23 19 75½ Dec. 23 73¼ 19 67 67 ½ Dec. 5 19 42¼ Dec. 30 41 ¾ 7 2:1!4 Dec-. 9 24 29 37¼ Dec. 30 36¼ 30 91¼ 63¾ 12 ¾ 35½ 25 ½ 87¼ 58 9½ 25½ Feb. Feb. Feb. Jan. Mch. 19 59 !!-ii 19 125 ¾ 19 86¼ 10 27¼ 5 63½ 46½ 45 ¼ 25½ 24 ¾ 31¾ 55½ 98 ¾ 27 ½ 37¼ 15¾ 111 6¾ 8 120 36 50 24 80 17¼ 14 ¾ 17¾ 25¾ 87½ 41 69 23 ¾ 24½ 56¾ 45¼ 28 ¾ 30 29¾ 34 ¾ 69¾ 99½ 28½ i~t;~°yta :fi~Efcteri{anslt 39 ¾ Colorado Fuel & Iron __ 19½ General Electric _______ 111 Interboro-Metropolltan_ 7¾ International Paper ____ 8½ Manhattan Elevated ___ 120 National Lead ___ ______ 39½ New York Air Brake __ _ 50 25¾ tt;_a~J~~e 80 Pressed Steel Car ______ 19½ 16 20 26 U. S. Steel Corporation Preferred ___________ 87½ Western Union Teleg ___ 56 ~:g~~~•sMJJfs ~~f~~u~t~~~ fiuit::== Feb. 19 Feb. 13 Feb. 19 Feb. 25 Feb. 17 Jan. 2 Feb. 19 Feb. 10 Feb. 11 J an. 2 Jan. 4 April 1 Jan. 4 Feb. 10 Jan. 2 Apr1120 2 Jan Feb . 10 Feb. 11 Feb. 10 Jan. 2 Jan. 2 Feh 19 22 31 12fi ¾ 29 28 85.¾ 26¾ 62 7 Dec . 28 Nov. 25 Aug. 13 Aug. 7 Aug. 31 Nov . 13 Dec. 28 Dec . 5 Dec. 2 Dec. 24 Nov.18 Dec. 28 Aug. 7 Nov. 25 Dec. 8 Dec. 23 Dec. 14 Nov. 13 Aug. 7 Nov. 13 Nov. 4 Nov. 30 83½ 50¾ 42 57 ¾ 83 ¾ 131 ¾ 49½ 67¾ 40 159 17 ½ 12 153 ¾ 77½ 93 36¼ 104¾ 43% 25¾ 34 53½ 113 ¼ 69 Dec. Dec . Nov. Dec. Dec. 88 ¾ Nov. 50¾ 44 ¾ 59% 107 137 ¾ 53½ 69 ¾ 42 162¾ 20 13¼ 154 ¾ 92 98 40¼ 106½ 45 29 37½ 5R ¾ 114¾ 71 ¾ 57 ¼ 28 a Par v a lue ls $50 per share and price 111 dollars per share; not per cent. b Voting trustee certificates '!tamped extended. c Par value Is $25 per share and price is dollars per share; not per Cl'nt. SALES AT THE NEW YORK STOCK EXCHANGE SINCE 1892. Railroad and Mtscellaneous Stocks.* Shares. 85 ,875,092 ____ - - - --- - - _---80,977,839 ---- - ----- - - ----49,075,032 - --------- - ------ -- _- - __-- - - - - __ - 66,583,232 - -- -- --- __ __ - __ -- 54 ,654,096 --- --- --- --- ----- 77,324,172 __ - _--- - __ - ---- -- 112,699,957 - --------- - ------ 176,421 ,135 - - - ------- --- - --- 138,380,184 - --- - ----- - - - - --- 265,944,659 - - -- __ -- -- _ -- _- __ 188,503 ,403 - --- - - - --- --- - --- 161,102,101 - ------------- --- 187,312,065 ____ -- ___- - _- - - -- 263 ,081,156 - - - -- -- 284,298,010 ---------___ _________ _____1 196,438,824 1908 - - ___-- --- --- -- __ 197,206,346 1892 1893 1894 1895 1896 1897 1898 1899 1900 1901 1902 1903 1904 1905 1906 1907 Ratlroad and Mtscellaneous Bonds. s 485,857 ,400 351,854 ,450 339,950,250 499,758,080 363,158,820 529,843,960 888,747,630 826,711,400 569,159,000 994,235 ,400 879,749,150 684,300,400 1,014 ,812,700 815,716 ,200 605,554,200 456,116,300 999,025,800 Government Bonds. s State Bonas. $ 1, 729, 100 4,793,950 2, 143,250 3,792,800 4,345 ,400 10,929,900 7,480,250 5,5 3,200 2,284,000 26 ,494,150 2,004,950 10,394,950 24,581,980 3,642,700 10,582,180 2,013,200 2,082,200 7,012,080 2,502,800 1,892,670 1,378,050 3,675,900 1,162,050 470,600 24,652,575 681,180 1,189,120 x207 ,513,450 1,809,800 67,588 ,850 69,196,100 858,050 521,820 81,713 ,500 - - - - - - - -- - - -- - * This Includes all stocks (except bank stocks) and also trust certificates, &c., sold In the "unlisted" department, except petroleum certificates sold by barrels. x Largely Japanese bonds. The foreign exchange market pursued an uneven course throughout the year, but its main characteristic was strength, and exports of gold reached considerable proportions in April to July inclusive , and there was another outflow in December. Money r ates often were lower here than abroad, facilitating gold exports. Numerous large loans by railroad and other https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis corporations were brought out in the United States~ and in the case of not a few of such issues considerable amounts were placed abroad. Furthermore, in the early part of the year, when values on our . Stock Exchange were still ruling low, there were probably considerable purchases of the better class of share· properties for foreign account. On the other hand,. in the latter part of the year sales for foreign account to realize the enormous profits which had accrued as. the result of the rise in values appear to have been equally heavy. January saw a sharp rise in exchange· rates from the low figures reached in December 1907, when gold was still flowing this way from Europe. In February some weakness developed on offerings. of drafts against purchases of American securities for European account. The latter half of the month,. however, the market was strong again. The strength. was well maintained through March, and in April a . large outflow of gold began which continued through. the next three months. In June some weakness de-· veloped the latter part of the month, a prominent feature being a good supply of bills against the-placing abroad of a large block of the new Union Pacific loan for $50,000,000. The latter half of July there was again weakness. and the inducing cause appeared to be much the same, namely the drawing against credits which had been established at London and Paris through the previous. negotiation abroad of considerable blocks of American railroad and other securities. On the other hand, exchange was then being gradually accumulated to meet the requirements in connection with the maturity· the following November of $25,000,000 New York City revenue bonds negotiated in Europe the previous. year, and small amounts of gold continued to go out that month. In August exchange was weak almost the entire month, owing to the drawings against credits abroad which had been established in the way already mentioned. In September the course of exchange was once more completely reversed and rates again got up close to the gold-export point. The upheaval in the Balkans kept it high in October, though offerings of bills against securities placed abroad prevented any actual gold shipments that month. In November some buying of American securities, following the result of the election, weakened exchange the. early part, but realizing sales the latter part of ovember produced a renewed rise which resulted in a fresh outflow of gold in December. Below we bring together some general statistics for 1908 and 1907, affording an interesting contrast between the two years. GENERAL SUMMARY FOR TWO YEARS. 1908. 1907. Coln and currency in U.S. Dec. 31_ ____ $ *3,399,116,912 *3,349,223,380 Bank clearings In United States ________ $ 132,272,067,412 145,175,733.493 197,385,225 222,315,684 Business failures ___________________ __ $ 196,438,824 197,206,346 Sales at N. Y. Stock Exchange ___ shares 645,353,800 4 53,443,450 Grain &: fl.our at Produce Exchange __ bush 1,423,169,820 1,116,402,243 Imports of merchandise (12 months) ___ _ $ 1,923,426,205 1,753,307,931 Exports of merchandise (12 months) ____ $ h88,182,391 30,969,357 Net exports of gold (12 months) _____ __ _ $ 2,486,617,307 2,196 ,476,765 Gross earnings 137 road s (12 months) __ -$ 5,499 Est. 4,500 Rallroadconstructed ______________ mll es 634,087,000 664,602,000 Wheat raised __________________ bushels 2,592,320,000 2,668,651,000 Corn raised ____________________ bushels 754 ,443,000 807,156,000 Oats raised ____ __ ______________ bushels 11,581,829 (?) Cott on raised ____ _ _______________ bales 25,781,361 15,936,018 Pig iron produced (tons of 2,240 lbs.)_ __ _ 3,633,654 1 , 921,611 Steel rail production (gross t ons) __ - ___ - 42,245,070 25,900,000 Lake Superior ore shipm ents (gro ss tons)_ 868,996,491 920,000,000 Copper production In U. s ___________ lbs . 67,109 ,393 64,665,014 Anthracite coal ______ (tons of 2,2 4 0 lbs .) 166 ,095, 335 175,000,000 Petroleum production (wholeU . S.) __ bbls 1,334,166 410,319 I mmigration into U. S. (12 montbs) ___ N o • A revised estimate of stock of gold coin was adopted Aug. 1 1907 , a reduction of $135 ,000,000 being made. h Net imports. RETROSPECT. JANUARY.-CurrentEvents.-Business continued exceedingly depressed, with reports showing about 350,000 idle ·freight cars on the railroads and with railroad earnings recording enormous losses. In monetary affairs, however, there was an almost complete return to normal conditions. The premium fot currency, or cash money, disappeared with the --old year; the condition of the N. Y. Clearing-House banksimproved with great rapidity, the deficiency below reserve re•quirements having passed away with the statement for Jan. 11, and by the end of the month the surplus reached $40,526,725; Clearing-House certificates in this city and throughout · the country were rapidly reduced or altogether retired; money rates dropped to low figures and discounts abroad were sharply reduced. In brief, as far as monetary affairs were . concerned, all traces of the disturbance and distrust which had prevailed in Europe and America during 1907 were removed. The after-effects-in intense business depression, ·.1ack of employment, dwindling revenues and profits-remained, and were felt in every industry throughout the land. No further gold was taken in Europe for the U. S., though some more gold arrived previously engaged; in fact, owing to · the rise in foreign exchange here, there was talk of possible gold exports from this side. This removal of the American -demand for gold enabled the Bank of England to make very large additions to its bullion holdings through gold arrivals in London, besides which there was a large return flow to London of gold from internal circulation, so that the Bank's position was greatly strengthened and it was able to begin the re-. payment to the Bank of France of the .$15,000,000 gold bor. ~rowed during the crisis in 1907. In the p.ve weeks to Jan. 30 the Bank's stock of gold was inc.r eased no less than £7,762,304 . . On Jan. 2 the Bank's discount rate was reduced from 7 to 6%r on Jan. 16 to~ and on Jan. 23 to 4. The Bank of Germany on Jan. 13reduced from 7½ to 6½ and Jan.25 to 6%. "The Bank of France cut its.rate from 4 to 3 ½ on Jan. 9 and to 3 ·Jan. 23. All this caused a great improvement in English -consols the latter part of the month and the price Jan. 31 was · ,86 9-16 against 83¾ Jan. 2. The Sec. of the Treasury, Mr. . Cortelyou, by degrees recalled Govt. deposits. Such deposits Jan. 31 were only $238,190,042 against $256,920,155 at the beginning of the month. Treasury money holdings were increased from $274,506,495 to $292,085,948. Govt. deposits ·in the N. Y. Clearing-House banks were reduced from $78,889,100 Dec. 28 1907 to $61,024,0.00 Feb. 1 1908; the improvementin the condition of these institutions, noted above, -occurred in face of this withdrawal of Govt. money. The banks throughout the country began actively to retire banknote circulation; the amount of notes secured by bonds Jan. 31 was $641,919,664 against $643,459,899 at the beginning of the month, affording apparently little evidence of retirement; but, on the other hand, the notes afloat on legal tenders increased from $46,670,996 to $53,483,098, indicating large deposits of lawful money for retiring circulation. Various currcncy measures were presented in Congress, the most promin-cnt being the Aldrich bill reported by the Senate Finance Committee, providing for an emergency circulation based on municipal and railroad bonds; the bill of Chairman Fowler of the House Banking and Currency Committee, providing for ·the entire reconstruction of the country's currency system, .and the measure advocated by the American Bankers' Association, which differed from both of these. Notwithstanding -the monetary situation so decidedly improved, some further bank suspensions occurred. Outside of N. Y. these were not -of great consequence. In this city, however, as an aftermath -of the disturbances the previous Oct. and Nov., several banks were forced to succumb-all being institutions previously weakened and which had been carried through the crisis of the autumn by the Clearing House. These bank failures arose -out of the effort of the N. Y. Clearing House to compel the retirement of the few millions of Clearing-House certificates still -outstanding with a view to the resumption on Feb. 8 of the detailed bank statement showing the separate condition of ,each bank, which had been suspended on Nov. 21907. This ,directed attention anew to the banks which had received aid -during the crisisandinducedlargefurtherwithdrawalsof de-. posits from such institutions. The National Bank of North America was the first to feel the strain, and on Sunday, Jan. 26, it appearing very likely that it would the next day be subjected to a serious run, which it would be impossible to meet -without further aid from the Clearing House, the officials https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 15 asked the Comptr.o ller of the Currency to take charge. This suspension caused uneasiness on the part of depositors in other banks still holding loans on Clearing-House certificates. Hence, though on Tuesday, Jan. 28, the Clearing House decided to allow the banks more time in which to cancel the certificates, such banks were forced, one after another, owing to the large withdrawals of deposits, to succumb. The New Amsterdam Nat. Bank closed Jan. 29, the Mechanics & Traders (which had a few months previously taken over a Brooklyn bank and had many branches in the borough of Brooklyn) on Jan. 30 and the Oriental Bank on Jan. 31. At the close of Jan. practically all Clearing-House certificates issued in N. Y. had been retired except those representing loans to these suspended banks. At its highest the aggregate of ClearingHouse certificates taken out by the N. Y. banks was $88,420 ,000, but the maximum used at any one time was only about $74,000,000. There were two small suspensions on the Stock Exchange, namely Robert Maclay & Co. and Whitney & Kitchen; also a small suspension in Boston. The Pittsburgh Stock Exchan-"e re-opened Jan. 27 after having been closed since the previous Oct. 23. The New Orleans Stock Exchange resumed dealings in stocks Jan. 15; previously business had been confined to trading in bonds. The Hamilton Bank of this city, which had been closed since Oct. 24, reopened Jan. 20. As already noted, industrial affairs everywhere were at a low ebb, though in most cases the paralysis was not so complete as it had been the preceding December. The make of iron in the U. S. during Jan. was computed by the '(Iron Age" at only 1,045,525 tons, against 1,234,279 tons in th~ previous Dec., 1 ,828,125tons in Nov. and 2,3?6,972 tons in Oct. Under .the auspices of the executive official~ of ·the U.S. Steel Corp., conferences were held among the manufacturers of steel, and it was agreed to maintain prices for finished products of iron and steel (after the concessions a.l ready made in that respect after the panic), with the view ~o preventing demoralization and encourage consumers to feel that purchases could be made with reasonable confidence. In the cotton goods trade some drastic reductions in prices were announced, but they failed to stimulate buying to any great extent. An extensive lockout of cotton mill operatives in Lan.cashire, Eng., had been threatened, but was averted at the last moment by the withdrawal by the employees of their demands. The following Sept. a lockout occurred. Print cloths at Fall River, which had dropped the previous month from 5¼ to 4¼c., declined still further to 4½c. Middling upland cotton in this market fluctuated between 11.30c. Jan. 7 and 12.25c. Jan. 17, with the close Jan. 31 at 11.65c. Wheat sharply declined, the May option at Chicago dropping from $1 08½ Jan.4 to 95¼ cts. Jan. 31. On account of the depression in business four of the largest diamond importers in this city became embarrassed and their affairs were placed in the hands of trustees for liquidation. The railroads suffered severely. At the very beginning of the year the Seaboard Air Line Ry. went into receivers' hands, and later the Chic. Gt. Western had the same experience, and on Feb. 1 the Det. Tol. & Ironton also passed to receivers. The Chic. & Mil. Elec. RR. met a like fate. The Southern Ry. announced a reduction to take effect Feb. 1 of 10% in the salaries of the President and other high officials. The B. & 0. made a cut of 10% in the pay of all officers and employees receiving $166 a. month or more, also effective Feb. 1. In the political developments affecting the railroads there were some new unfavorable happenings. The very first business day of the year (Jan. 2) Washington dispatches announced that the U.S. Govt. contemplated legal proceedings against the Union Pac. or Harriman combination of roads. This was confirmed later and on Jan. 25 Attorney-General Bonaparte made official announcement that a bill in equity would be filed by the Govt. under the Sherman Anti-Trust Law to set aside control by the Union Pac. and its subsidiary corporations of the Southern Pae. and of the San Pedro Los Angeles & Salt Lake RR.; also to have declared illegal the ownership of stock in the Atch. Top. & Santa Fe and the Gt. Northern and th~Nor. Pac. companies. The stock holdings in Ill. Cent., N. Y. Central, B. & 0., Milw. & St. Paul, &c., were not attacked. Gov. Hughes in his message to the Legislature Jan. 1 urged extending the functions of the two Public Service Commissions in this State so as to bring telegraph and telephone companies under their supervision. Asit happened, too, the Public Service Commission for the Second District intimated in its an- 16 RETROSPECT. I nual report that it might be deemed advisable to order the swering questions regarding purchases for himself. The folrailroads in N. Y. State to adopt passenger rates of 2c. a mile ) lowing Dec. the U . S. Supreme Court held that none of the-a threat which was not carried out during 1908. The Ten- questions were within the power of the Commission to ask. nessee Railroad Commission ordered all roads to put into op- The Sovereign Bank of Canada became embarrassed, but the eration a fiat rate for passengers of 2½c. a mile on April 1- other Canadian banks took over its business and protected the the reason assigned was that the Southern Ry. had just en- depositors. In Chicago John R . Walsh, the former head of the tered into a compromise with the authorities in Georgia and Walsh banking institutions which suspended in De c. 1905, agreed to accept a 2 ½-cent rate in that State, and had also namely the Chicago Nat. Bank, the Equitable Trust Co. and promised to give the same rate to other States. A conference the Home Savings Bank, was found guilty Jan. 18 by a jury of railroad operating officials with Pres. Roosevelt took place on the charge of misapplying the funds of the Chicago Nat .. on Jan. 27, one of the subjects for consideration being the Bank. The N . Y. Clearing-House Association Jan. 13 took question of legalizing pooling , but the conference had no tangi- action providing for the admission of trust companies to full! ble results. On Jan. 31 Mr . Roosevelt sent a most extraor- membership in the Association on condition that they main-dinary special message to Congress couched in very intemper- tain a cash reserve in their own vaults of 25% of deposits, but, ate language. Its ostensible purpose was to urge the enact- nothing ever resulted from the step. The N. Y. State Supt. ment of a new employers' liability law , but it was devoted of Insurance, Otto Kelsey, notified the insurance companiesmainly to denouncing those who had opposed Mr. Roosevelt's that they must regain possession at once of all bonds loaned~ policies and methods,and was exceedingly bitter in tone and to national banks during the panic to be used as a basis for-in spirit. The President again advocated the numerous radi- bank-note circulation or as collateral for Govt. deposits. He cal doctrines to which he had ·committed his administration, stated that under the law the Insurance Dept. could not counargued in favor of some control of the physical operations of tenance the loaning of bonds by the companies. The latter the railroads and for Government valuation of the roads, and were also notified that in their annual statements they would took an incursion into a new field by denouncing margin deal- be allowed to make up their security valuations on the basis ings in stocks and in commodities and suggesting denial of the of an average for the thirteen months instead of taking..· use of the mails and telegraphs and telephones to those en- market values at the close of the year. A new tradegaged in speculative dealings. A number of encouraging agreement between the United · States and France was-court decisions came as a counterpoise to these unfavorable proclaimed, applying the minimum rate of duty under the political developments. On Jan . 6 the U.S. Supreme Court Dingley Tariff Act to Frencblchampagnes in return for the declared unconstitutional the Act of Congress approved June French minimum rate of duty on coffee, cocoa, chocolate, . 11 1906, known as the Employers' Liability Act, and which vanilla, &c., and mineral oils coming from the U. S., including: made railroads responsible in damages to their employees for Porto Rico. Race riots between the whites and the Japanese injuries resulting from the employees' own carelessness or the occurred at Vancouver, B. C. The District Court of Appeals. negligence of fellow-employees. The Act was declared illegal at San Francisco set aside the conviction of Mayor Schmitz-: because it failed to distinguish between traffic among the on the charge of extortion. States and traffic within a State . On Jan. 27 the U. S. SuRailroad Events and Stock Exchange Matters.-Adecided re-· preme Court held unconstitutional Sec. 10 of what is known vival of activity occurred on the Stock Exchange during Jan.,as the Erdman Law, approved June 1 1898, and which with a large and general advance in prices. The controlling: sought to prevent inter-State carriers from refusing to employ circumstances were the development of ease in the moneymembers of labor unions. This provision was condemned as market and a restoration of confidence in financial circles in. an invasion of personal liberty, an interference with the free- this country and in Europe. Bonds shared in the improvedom of contract and as being beyond the scope of Congress, in- ment, notably the U. S. Steel sinking fund 5s, and also someasmuch as there isno connection between membership or non- low-priced semi-speculative issues like Brooklyn Rapid Tran-· membership in a labor organization and the regulation of sit refunding 4s and Interb.-Met. coll . 4½s. The floating of inter-State commerce. Another highly important decision some large new issues, in particular the $30,000,000 5% equipby the U.S. Supreme Court came early the next month (Fe b. ment trust certificates of the N. Y. Cent. and subsidiary lines,. 3). In this a boycott which had been instituted by a labor tended to impart additional strength to the market. Returns organization against a firm of hat manufacturers doing trade of railroad earnings were in most cases exceedingly poor, but in several States was declared (all the members of the Court these were in large measure ignored in the belief that a revival concurring) an unlawful conspiracy in restraint of commerce of business activity would come in the near future-an expecunder the provisions of the Anti-Trust Law of 1890, and it tation which was not realized. The railroad receiverships was held that under Section 7 of the law the injured concern mentioned above were also an unfavorable feature. Stock could recover damages in triple the $80,000 claimed. On values, nevertheless , remained strong, with more or less irJan. 20 Judge Smith McPherson in the U. S. District Court regularity on special days and in special stocks, and this irregdeclared void the Missouri statute of 1907 forbidding corpor- ularity became more pronounced towards the close of the ations organized in other States from transferring suits from month as it appeared from the dispatches from Washington, the State Courts to the Federal Courts. The Penn. Supreme Albany and other State capitals that the spirit of antagonism Court Jan. 20 affirmed the decision of the Common Pleas to railroad interests had by no means died out . Amer. Smelt. Court of Philadelphia and held the Dunsmore Two-Cent Pas- & Refin. shares were one of the weak specialties, from causes senger Rate Law passed by the Penn. Legislature in 1907 il- peculiar to that property, the common dropping from 79 ¼ legal so far as the Penn. RR. was concerned on the ground J an. 15 to 62 % Jan. 23, with the close 67 ½- Atch. com .sold that the rate was unremunerative . In the U. S. District up from 68½ J an. 8 to 74½ Jan . 18 , with the close Jan. 31 at-, Court at Dallas, Tex ., Judge Edward R. Meek on Jan . 14 , in a 72¼. Milw. & St. P. com. advanced from 103½ Jan. 2 t0, case in which the Pullman Co. was a party, restrained an order 117 ½ J an. 18, closing J an. 31 at 113 ½. Del. & Hud. sold up, of the Texas RR. Commission reducing sleeping car rates. from 147 Jan. 2 to 168 J an. 10, with the close Jan. 31 at 152 .. This decision was affirmed the following Nov. by the U. S . Great Nor. rose from 115¼ J an. 2 to 125 ¾ J an. 18, closing Circuit Court of Appeals at New Orleans. On J an. 16 the at 121 1/s. N. Y. Cent. from 90½ Jan . 2 advanced to. Texas RR. Commission dismissed the application for a reduc- 103 Jan. 14, closing at 97. Pennsylvania from 108¾.. tion in passenger rates from 3c. a mile to 2 ½c on Texas roads. Jan. 2 got up to 117 ½ Jan. 20, with the close 112½,.. At the same time the order made May 20 1906 establishing a Union Pac. com. rose from 116¼ Jan. 2 to 123 % Jan ._ 2½c. fare on the Houston & Texas Central , against which an 18, closing 122 ½. U. S. Steel pref. from 87½ Jan. 2 injunction had been obtained in the Federal courts, was also rose to 95¾ J an. 14 with the close Jan. 31 92½. Amal.. withdrawn and canceled. In New Jersey the Court of Errors Cop. after moving up from 45½ Jan. 2 to 53¾ Jan . 15,. and Appeals on J an. 7 unanimously upheld the Perkins Main closed at 52. Can. P ac . stockholders were offered $24,336,-Stem Tax Act of 1906 increasing railroad taxes in that State. 000 new com. stock at par. The Chic. R. I. & Pac. Ry. sold: On Jan. 16 Judge Hough in the U.S. Circuit Court held that $6,000,000 of its 1st and ref. 4s. The Mo. Pac. sold $6,000,Pres. E. H. Harriman ,of the Union P ac.,and Otto H. Kahn, 000 2-yr. coll. tr. conv. 6% gold notes to take up the $6 ,000,of Kuhn, Loeb & Co., must answer certain questions put to 000 5% notes issued in 1906 and which matured Feb. 10 1908 ~ them by the Inter-State Commerce Commission the previous It was announced that $38,585,400 6% conv. debenentures year touching the purchases of stocks of other roads by the had been subscribed for by shareholders of the N. Y. N. H Union Pac . Mr. Harriman , however, was excused from an- & H. RR. It was stated that the syndicate which had https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RETROSPECT. underwritten $14,576,000 conv. bonds of the Norf. & West. Ry. had expired by limitation Dec. 31 1907 and that comparatively few of the bonds had been sold. Consol. SS. Lines (the unfortunate Morse combination of steamship lines) defaulted in the int. on its coll. tr. bonds, and the company, as well as some of the steamship companies controlled, went into the hands of receivers. The long protracted litigation concerning the trolley lines of Chicago was finally terminated, enabling the carrying out of the plan for the rehabilitation of the properties under the name of the Chicago Rys. Co . The L. & N. RR. distributed its holdings of stock in the "Louisville Property Co." (controlling coal and other lands) in the shape of a 1 % div. to L. & N. shareholders. This was with the view to prepare for the going into effect on May 11908 of the provis on of the Hepburn Rate Law forbidding railroads from transporting over their lines any products in which they may hold any interest. The Clev. Cin. Chic. & St L . reduced its semi annual div. on the com. stock from 2 to 1 % . On the other hand, the N. Y. Chic. & St. L. made the annual div. on its 2d pref. stock 5 % against 4 % in 1907. Amal. Copper made a further cut in its div ., reducing the quar. payment to only ½ of 1%. Anaconda Copper, controlled by the Amal., and some other copper companies also again decreased their div . rates. The Cripple Creek Cent. RR. passed divs. on both com. and pref. shares. The U. S. Cast Iron Pipe & Fdry. Co. passed the div. on its com. stock. The Homestake Min. Co., which the previous May suspended divs., owing to a fire in its mines, resumed regular monthly payments. The Money Market.-In the money market there was a complete restoration of normal conditions and the latter part of the month rates dropped to low figures and the market really became congested. At the opening, pending the distribution of the large 1st of Jan. int. and div. payments, quotations still ruled high. On Thursday, Jan. 2, the quotation for call loans at the Stock Exch. got up to 20% and time loans were quoted at 10 for 60 to 90 days, 7 for 4 to 5 mos. and 6 for 6 mos. A loan of $500,000 at 6% for 8 mos. was actually recorded at that time. On Jan. 31, on the other hand, the range on call at the Exch. was only 1½@2 and trust cos. were out of the call loan market, since they could get 2 % by leaving their money on deposit with the banks. Time loans were then quoted at 3@3½ for short maturities, with no business recorded, while the rate for 4 mos. was 4 ½ and some money was placed at this figure on loans for 6 mos. Mercantile borrowers were advantaged most by the change in conditions, as previously they had had to submit not only to high discounts but in many instances to pay large commissions for obtaining loans. Early in the month the quoted rate for paper was still 8%. At the close quotations were 5 ½@6 for 60 to 90 days endorsed bills recei v. and for prime 4 to 6 mos. single names; good single names were quoted at 6@6½. The demand for short-term coll. notes issued by railroads and other corporations diminished somewhat, owing to the receivership announcements. In their first weekly statement of the year, Jan. 4, the N. Y. Clearing-House banks still showed $11,509,550 deficiency , but the next week a surplus of $6,084,050 was reported, and by Feb. 1 this surplus had increas:. d to $40,526 ,725. Money holdings increased from $250,606,900 Jan. 4 to $325,152,100 Feb. l. Deposits between the same dates rose from $1,048,465,800 to $1,138,501,500. Loans were $1,132,871,800 Jan. 4, $1,117,149,600 Jan. 11, $1,135,569,700 Jan. 25 and $1,133,786,100 Feb. l. Foreign Exchange, Silver, &c.-Foreign exchange developed great strength and rates for sterling sharply and almost continuously advanced until the last few days when some recession occurred. As noted above, all anxiety regarding monetary affairs abroad was removed and the leading European banks made successive reductions in their discount rates. Open market discounts fell away even more sharply. Gold engagements for the U.S. not only ceased, but the latter part of the month, with the rise in exchange, there was talk of possible gold exports from N. Y. Merchandise exports were on an exceptionally large scale, but there was a scarcity of commercial bills nevertheless, and it was suggested that the exports had been drawn against in advance of their actual shipment. Exchange rates were at their lowest figures on the opening day, at 4 7975@4 80 for 60-day bills; 4 8470@ 4 8475 for sight and 4 8575@4 86 for cable transfers. Sixtyday bills were at their highest Jan. 24 at 4 8390@4 84 and this was also the figure Jan. 31. The high point for sight https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 17 bills was 4 8720@4 8725 Jan. 27, with the close Jan. 31 4 8695@4 8705. The high point for cable transfers was 4 8755@4 8765 Jan. 24, with the close Jan. 31 4 8735@ 4 8745. Open market discounts at the beginning of the month were 5 at London; 4@4½ at Paris and 6@6¼ at Berlin and Frankfort. On Jan. 31 the rate at London was• 3 ½@3 ¾; at Paris 2 ½ and at Berlin and Frankfort 4 ½@41/s. Silver at London showed some recovery and from 24½d. Dec. 31 1907 there was an advance to 27d. Jan. 7, but the close Jan. 31 was at 25½d. FEBRVARY.-Current Events.-The month opened in gloom, and closed in gloom, relieved only by the success of the N. Y. City $50,000,000 offering of 4½% bonds on Feb. 14. It was known beforehand that the J. P. Morgan syndicate would put in a bid for the whole issue and this was an important influence in insuring the success of the sale. As it was, the syndicate got none of the $47,000,000 long-term stock due 1957 and only $1,101,880 of the $3,000,000 assessment bonds due in 1917. Altogether 1 ,168 proposals were received for an aggregate of $271,242,650. The 1957 bonds were placed on an interest basis of about 4.29% and the $3,000,000 assessment bonds on a basis of about 4.38%. The disturbing events which served to revive the feeling of gloom in financial and industrial circles were wholly political. The more that Pres. Roosevelt's special message to Congress on Jan. 31 was pondered, the more discouraging it appeared to make the outlook, inasmuch instead of relief from the political attacks which had been such an important element in bringing about the prostration of the country's industries, it seemed to indicate a renewal of these attacks. Other political developments were of like character. William J. Bryan, Democratic candidate for the Presidential nomination,. in the week following the President's message, delivered a. number of addresses, in which he made attacks of his own on the railroads, on men of wealth,and on Wall St. Then,too,. the views and utterances of the candidates at that time most generally mentioned in connection with the Re publican nomination gave cause for concern. Sec. Taft made an address Feb. 10 in which he referred to the President's special message as a "bugle call" to renewed support of the policies of the Administration, and Feb.13 made another address in which he declared that "we have not quite enough regulation of railways. Other powers ought to be conferred upon the Inter-State Commerce Commission." He also advocated a new anti-trust law, made "more specific to bring all within its provisions." Senator Knox delivered an address Feb. 11 lauding the Administration and expressing approval in particular of the Hepburn Rate Law. He also urged that the law must be rigorously enforced, saying "we must not forget that the efficiency of all law lies in the efficacy and persistence of its enforcement." Governor Hughes sent a special message to the State Senate at Albany again demanding the removal of State Supt. of Insurance, Otto Kelsey, on the report of Matthew Fleming , a special Commissioner appointed by the Governor, the grounds being very unsubstantial (see "Chronicle" of Feb. 15 1908, p. 372) , and he also granted the request of Att.-Gen. Jackson that Dist. Attorney Jerome be superseded in the conduct of the so-called ice trust cases and that he, Jackson , be delegated to conduct the prosecution himself and infuse new vigor into it. The State Senate Feb. 26, by a vote of 30 to 19 , refused to endorse Mr. Kelsey's removal, this comparing with a similar vote of rejection the previous year of 27 to 24. The most depressing incident of all was the letter which Pres. Roosevelt sent to the Inter-State Commerce Commission on Feb. 18 concerning reductions in the force of railroad employees and prospective reductions in wages. The railroads at the time were suffering frightful losses in revenues, and retrenchment and economy were essential to escape bankruptcy. The President in his letter directed inquiry to determine if there was cause for any reductions and he indicated as one of the things which the Commission must look into the question whether the plight of the railroads had not been caused "by misconduct in the past financial o·r other operations" of 'the companies. Employees had previously shown a disposition to acquiesce in wage reductions as unavoidable. Now they began to assume an attitude of opposition. The L. & N. RR., which was singled out for special mention in the letter, later in the month rescinded its order reducing the pay of engineers and 18 RETROSPECT. conductors 10%, which was to have gone into effect Mar. I. The conductors had already accepted the cut. A similar reduction by the Nash. Chatt. & St. Louis was also recalled. Feb. 15 it developed that the U. S. Government in prosecuting its suit under the Anti-Trust law against the Un. Pac. RR. had asked that the latter be enjoined from receiving dividends on the So. Pac. shares held by it. This last would have de prived the U. P. of aggregate income of 7, 22,000 per annum. About the same time it was also announced that the Inter-State Commerce Commission had placed information in the hands of U. s. Dist. Attorneys throughout the country tending to show violations of the Inter-State Commerce Act by the So.Pacific in the granting of rebates. It was stated that in these actions the Federal Government intended to co-operate with the State authorities in California, who claimed to have under consideration 4,000 alle.!!ed ..., illegal transactions on the part of the company ,and that if convictions were secured in all cases fines might be levied aggregating 80 ,000,000. The developments in some of the States were of like unfavorable character , though with occasional exceptions to the rule. The North Carolina Legislature enacted the 2½ cent passenger fare bill (with mileage books at lower rates) agreed upon between the Governor and the railroads , and to pass which the Legislature had been called in special session in Jan., thus replacing the 2 ¼cent rate of the previous year. The Kansas Legislature, which had been convened in special session Jan. 6, adjourned Feb. 4 without enacting either the 2c. fare bill or the law for the guaranty of bank deposits recommended by the Governor. On the other hand, the Kansas State Board of RR. Commissioners on Feb. 14 ordered Kansas roads to put into effect Apr. 1 a new schedule of freight rates involving a reduction in various articles averaging, it was said, 15 to 20%. Some additional receiverships were announced, prominent among them being the Intern. & Gt. No. RR. One of the reasons given for the step in this case was that the company had been called upon by the Texas RR. Commission to make additions and improvements involving expenditures of several mllion dollars.There were many other di turbing influences. One feature in particular was legislative propositions in various States and in Congress intended to prohibit margin dealings in stocks and in commodities, or else to impose heavy taxes on the same; that movement was stimulated by the President's specialimessage on Jan. 31, with its reflections on speculation. In the Southern States particularly antioption legislation and agitation were prominent. Developm ents regarding trade were somewhat mixed. In the iron and steel industry some slight reaction occurred from the previous extreme depression. Pres. Corey of the U. S. Steel Corporation was quoted Feb. 7 as saying that while in Dec. the mills of the company had been producing to only 36% of their capacity, they were now working on the basis of 45% to 50% of their production. On the other hand, some of the equipment companies were obliged further to reduce their working forces,· at the Baldwin Locomotive Works of Phila. only 9,000 hands were at work against 15,800 Jan. 1 1908 and 18,000 October 1907. In copper a further drop in pr ice to 12 ½c. occurred, and advices from Butte the early part of the month stated that labor conditions (owing to the suspension of copper-mining) had become so bad that soup kitchens had been started at that point by the Salvation Army and Sen. Wm. A. Clark to feed the large masses of unemployed. Fortunately the low price induced enormous exports of the metal (though no improvement occurred in the domestic demand) and at the very close of the month the welcome announcement was received that the Amal. Copper Co. would resume work in the Butte district Monday, Mar. 2. The make of iron in the U. S. during Feb. (29 days) was 1,079,721 tons,which, though only half the normal output, compared with 1,045,250 tons in Jan. (31 days.) In the dry goods trade , wholesale reductions in prices were made, without stimulating purchases, and the New England mills decided to continue for an indefinite period the curtailment beguntheprevousDec.,whenanagreementhadbeenentered into by about 75% of the spindleage of New England providing for a curtailment of 25% between Dec. 25 and Mar. 1. Pri-nt cloths at Fall River dropped from 41/s to 3.1/sc.; cotton Feb. 29 was 11.45c. for middling uplands in this market against 11.65c. Feb. 1. Wilson, Colston & Co., a very old banking house in Baltimore, announced its failure. A. . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Chandler & Co. of Philadelphia, a firm interested in street railway properties, also made an assignment. The Home Bank of Brooklyn Borough, a very small institution, was closed by the State Banking Dept. Feb. 1. On the other hand , the First Nat. Bank of Brooklyn, which had suspended the previous Oct . . re-opened for business Feb. 10. The N. Y. Clearing House ,in resuming on Feb. 8 the publication of the condition of the separate banks . began an nnovation by giving in the case of the grand aggregates (but not in the case of the separate banks) figures to indicate the condition at the end of the week in addition to the averages for the week. The State Supt. of Banking at the same time began to give out totals showing the condition of the banks and trust companies under his supervision-both those in the Greater New York and those in the rest of the State. Owing to large Argentine shipments, there was a sharp break in wheat prices, th e May option at Chicago declining from 981/s cts. Feb. 5 to 90¾ Feb. 19; but there was an equally sharp recovery and by Feb. 29 the price was up to 99 ½ cts. The Sec. of the Treasury Feb. 24 announced that national banks holding 100,000 or more of Government deposits would be required to return 25% of the same (calling for about 35,000,000), 10% to be due Mar. 9 and the remaining 15 % Mar. 23. Government deposits in the banks Feb. 29 were $230,515,443 against $238,190,042 Jan. 31. Government money holdings Feb. 29 were $304,225,160 against $292,085,948 Jan. 31. Bank circulation secured by bonds was reduced from $641,919,664 to $632,458,712. A financial crisis at Copenhagen was one of the events early in the month. One bank suspended and runs occurred on several others. It was dealt with by the passage by the Folkething of a bill introduced by the Government authorizing the State to guarantee the liabilities of certain of the banks. In Japan, also, financial tension was reported. A political incident in Europe was a military demonstration by Russia against Turkey which had for its object the forcing of the Sultan to withdraw his :troops from the Persian frontier. Later , harmonious relations were re-established. Some political unrest was also mani_fested at the Continental centres , owing to a misunderstanding between the Russian and Austrian Governments concerning Austria's plans for the construction of the Vienna-SalonicaAthens RR. The matter appears to have been quickly adjusted however. As a result of internal political dissensions King Carlos of Portugal and his eldest son, the Crown Prince Luiz Philippe, were both assassinated on Feb. 1. The second son, the Infante Manuel, became King. · Later the new King inaugurated a different policy and Premier Franco , who, during the reign of the former King exercised a sort of dictatorship, was superseded. The Supreme Court of Ohio, having affirmed the conviction the previous June of the officials of certain ice companies for having violated the State (Valentine) Anti-Trust Law, they were sentenced to a term of imprisonment. The Appellate Division of the N. y Supreme Court, First Department, on Feb. 14 affirmed the decision of Justice McCall refusing to grant permission to Att.-Gen. Jackson to annul the charter of the Consolidated Gas Co. of N. Y. on the ground that it was a monopoly in violation of the State Anti-Trust Law and also that it was operating on illegal or lapsed franchises. The Court of Appeals at Albany Feb. 19 reversed the decision of the Appellate Division of the Supreme Court, Third Department, which had sustained the order of the former Gas and Electricity Commission reducing the price of gas and electricity in Saratoga Springs. The right of the Legislature to delegate its powers to determine rates was upheld, but the Court declared unconstitutional that part of the former statute which provided that the prices fixed by the Commission should be the maximum for three years , or until upon complaint new rates were designated by the Commission. The U. S. Supreme Court sustained an Oregon statute forbidding employment of females in any mechanical establishment or factory or laundry more than ten hours during any one day. The decision was to the effect that under the so-called police power of the State restraints upon the rights of a woman to work may be placed not alone in her own interest but for the we fare of posterity through the children she gives to the world The Russian Military Court, which had been trying Gen Stoessel, who was in command at Port Arthur when the fortr ess was surrendered to the Japanese at the opening of 1905, passed sentence of death upon him, but with the recommendation that this sentence be commuted to ten years imprisonment in a fortress. The Czar subsequently acted in accordance w th such recommendation. A three-years agreement was enter d into between the leading transAtlantic steamshi p lines ending the passengerratewar which in Jan. had increased in intensity and which had been in progress since the previous August. The northern section of the McAdoo Tunnel under the Hudson River, built by the Hudson Companies, from Hoboken, N. J., to Morton St., N. Y., thence northeasterly to Sixth Ave. at 19th St., was opened to traffic on Feb. 26. The First National Bank of this city announced the establishment of a security company under the name of the First Security Co. with a paid-up capital of $10,000,000 (the stock to be held by six trustees in the interest of the bank) , for the purpose of acquiringreal estate, securities, stocks and other properti s owned by the bank. Payment for the stock was made by the declaration by the bank of a special dividend of 100 % . Pres. Roosevelt RETROSPECT. sent a message and_report to Congress urging the improvement of the country's inland wat er ways and suggesting a bond issue for that purpose. Railroad Events and Stock E xchange M atters .-Influenced by the depressing circumstan ces narrated a bove , the stock ma rket wa s weak th e great er port ion of the month. Bonds of the semi-specula tive class , like Brooklyn Rapid Tran sit 1st ref. 4s, Interb.-Met. coll. 4 ½s, Chic. R. I. & Pa c. RR. 4s a nd of some of the industria l companies, were a lso prominent in the downward movement . This cont inued until a bout the middle of the month , when a pa rtia l recovery en su ed , but with the Gould South western propert ies and more particula rly Mo. Pa c. and Denv. & Rio Gr ., a n dalso West . Un . Tel. , developing renewed weakness . Th e la tter part of t he mon th the course of prices was irregula r, but with transa ct ion s on an ex ceedingly small scale . R eturns of railroad earnings continued very poor , t he increase in railroad receiverships was unpleasan t ly suggestive, a nd th is , with the contin ued polit ical a gitat ion , seemed to remove a ll indu cement for the purchase of securit ies . At t he close the copper shares displayed stren gt h on t h e la rge export sh ipments of the meta l. The Steel shares man ifested great firmness throughout; Steel pref . frp m 93 ¾ Feb. 4 sold down to 89.½ Feb . 10 ex div . of 1 ¾ % , but closed Feb . 29 a t 92x; B. & 0. com. sold down from 84½ F eb. 5 to 76 ½ Feb . 10 with the close 78¼ . Milw . & St . P. com . fro m 11 3¼ Feb . 1 dro pped to 105¼ Feb. 13 and closed a t 109¼ . Extremes for Gt. Nor . were 121 ½ Feb . 1 and 113 ¾ Feb . 10 with the close 117 ¾; for Nor . Pac . 126¼ Feb . 1 and 117 .½ Feb. 10 with the close 120¾; for Un. Pa c. 123¾ Feb . 1 an d 110 ½ Feb. 29 with the close 111 ¼ . N. Y . Cent. dro pped from 97 .½ Feb . 5 to 92% Feb. 19 and closed at 94 . Mo . Pac . fell off from 43% Feb . 1 to 28½ Feb. 19 wit h the close 31 .½; Ama l. Cop. , which was 52¼ Feb . I.fell t o 45 ¾ Feb. 19 and closed at 50¾. Among the roads wh ich went into receivers' hands were the Det . Tol. & Ironton, th e Macon & Bir m., the Chic. Cin. & Louisv . and t he Int . & Gt. North. Texas & Pac . made the annual div . on its inco me bonds only 3 ½ against 5 previously . The Federal Min . & Smelt. Co . omitted the div . on its com. sto ck. West Jersey & Sea Sh ore ma de the s .-a . div . on com. only 2 a s against 3 %. The Erie omitted the s .-a . div. paya ble in April on t h e 1st pref. usua lly decla red in Feb . Th e At l. Coast Line of Conn. ma de its qua r. div. only 2 %, against 2 ½%. Th e Int . Silver Co. reduced the qua r. div . on its pref. stock. The Associa ted Merchan ts Co. of N . Y. declared th e regula r qua r . div. of l ¾% on com. but omitted t he ½% extra. In the litiga tion by Stuyvesant Fish concerning the elect ion of Ill. Cent. directors , Judge F. Q. Ba ll in the Superior Court of Cook County, Ill., on Feb. 20 dissolved t h e injunction restra ining the Un. Pac. and the RR. Securities Co. from voting on the Ill. Cent. stock held by them. Judge Ba ll held that a foreign corpora tion may own stock in a company organized under Illinois laws. B. & 0. sold $6,000,000 5% 1-yr. notes. The Chicago City Ry. soldanadditional$4,000,000 of its 5% 1st mtge. bonds and the Chicago Rys. Co. sold $2,500,000 of 1st mtge. 5s and the next month sold $2,500,000 more of the same issue. The Money Market.-Ease preva iled in money the entire month, though time loans were at one time fractionally firmer, owing to some discrimination against the calla teral offered. However, there was compa ratively little inquiry for loans for the longer periods , commission houses relying quite generally on the call loan branch. The range on call during the month was only 1½@2¼%- Time loans at the close were 4 for 60 to 90 days, 4¼ for 4 months and 4½@4¾ for 5 to 6 mos. The demand for commercia l pa per was good, though the local inquiry was comparatively light. Rates at the close were 4 ½@5 for double names and 5@5 ½ for prime and 5½@6for good single names. The N. Y. Clearing House with the statement of Feb. 8 began to give out figures showing the actual condition of the banks at the end of the week in addition to the averages for the week. The statement of averages for Feb. 1st reported a surplus of $40 ,526,725. For Feb. 8th the averages showed a surplus of $29,832,175 and the actual figures a surplus of $30,378,750. From this la tter there was an increase to $33,072,000 Feb. 21; Feb. 29 the surplus, according to actual figures, was down to $27 ,789 ,075. Money holdings dropped from an average of $325 ,152 ,100 Feb. 1 to $314,178,300 Feb. 8 with the actual at tha t date $313,301,500. From this there was an increase to $323 ,327 ,800 (actual) Feb. 22 with a decrease to $321,993,700 Feb. 29. Deposits were $1,138,501,500 Feb. 1 (average) , $1,131,691 ,000 (actual) Feb. 8 and increased steadily thereafter to Sl,176,818,500 (actual) Feb. 29. Loans fluctuated somewhat but were $1,166,988,400 Feb. 29 (actua l), aga inst Sl,133,786,100 (average) Feb. 1. t Foreign Exchange, Silver, &:c.-Foreign exchange wa s weak the first two weeks, with a sharp decline in prices, a nd strong the last two weeks, with an equally sharp recovery. The weakness was due to a good supply of commercial bills , especially against cotton, and to considerable offerings of bankers' drafts arising in part from some purchases of securities for European account, but mainly out of speculati::ve selling of exchange on the idea that the Morgan syndicate would get a large part, if not the whole, of the $50,000 ,000 offering of N. Y. City bonds, in which eventa considerable amount of such bonds, it was expected, would be placed abroad. But this expectation was not realized, the syndicate being awarded none of the long-term bonds, and the second half of the month there was an urgent demand to cover the speculative sales referred to. Some demand also then developed for bills https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 19 to remit for securities sold here for European account because of the unsettled state of the stock market. A slight easing orf in ex cha nge was recorded the last two days , caused by offerings of ba nkers' bills against credits supposed to have been created through the placing abroad of some choice investment securities. Sixty-day bills dropped from 4 8370@ 4 8375 Feb. 1to48230@4 8240 Feb. 15 , with the close Feb. 29 at 4 8350@4 8360. Sight bills declined from 4 8685@ 4 8690 Feb. 1 to 4 8580@4 8590 Feb. 14 a nd were 4 8670@ 4 8675 Feb. 29 . Ca ble tran sfers fell off from 4 8730@4 8735 Feb. 1 t o 4 8615@4 8625 Feb. 14 , with the price Feb. 29 4 8720@ 4 8725. Money a t the European financia l centres was easy ,with open ma rket discounts Feb. 28 a tLondon 3%, at Pa ris 2¼ a nd a t Berlin a nd Fra nkfort 4%. The Bank of England continued to increase its h oldings of bullion. The Bank of Belgium reduced its rate of discount from 5 to 4% . Ea rly in t he mon th t h ere was a shipment of $500,000 gold from t his side to Argen t ine. Silver in London recovered t he early part of the month on buying for India , the price a dvan cing to 26%d. F eb . 10, but subsequently there was a sharp decline again, and t h e close F eb. 29 was at only 25 9-16d. MA RCH .-Current E vents.- A more hopeful feeling developed during Mar ch, which was reflected in a sharp rise in prices on the Stock E xchange . Rumors gained currency t hat President R oosevelt would pla ce no obstacles in t he way of an advance of 10 % in railroad fre ight rates if the reby a redu ction in railroad wages could be averted . Furthermore, all t hrough t he month reports we re current that he would send another special message to Con g;ress, and t hat this would breathe a different spirit fro m t he startling do cument of J an. 31. The new message came Mar ch 25 , and in lan gu age was certainly in marked contrast wit h the previou s message . When analyzed , it be came a pparent enough t hat the President had n ot experienced any change of heart . He insisted that the Inte r-State Commerce Commission be given the power to pass u pon the issuance of all securities , and that a law be passed providing that whenever a F ederal court should determine to place a common carrier or other public utility concern under the control of re ceivers, the AttorneyGeneral .should have the right to nominate at least one of the receiver s . As to a mending the Anti-Trust law, the proposal was that " la bor organizations, farmer s' organizations and other organization s n ot organized for purposes of profit" should be exe mpt fro m the operation of the statute, provided they registered under the law, but that business and manufacturing concerns were to enjoy immunity only if they acceded to certain conditions which, in effect, would give the Federal Government control over all corporations engaged in inter-State business . The disposition , howeve:r: , was to ignore the subst ance of the message and to regard only the change in tone. Some favorable court decisions of great importance were of a more enduring character, and helped along the improved feeling. On March 23 the U. S. Supreme Court announced its conclusions in two of the celebrated cases where States had sought to impose upon carriers noncompensatory rates and charges, and at the same time had attempted to deny access to the courts by the levy of such heavy fines and penalties that no carrier could afford to take the risk of making itself liable to them. A conflict of authority between the Federal courts and the States had arisen the previous summer out of the question, and had then provoked some wild and inflammatory talk. The one case was that of the State of Minnesota and the other that of North Carolina. The U. S. Supreme Court disposed of both cases by an almost unanimous vote (8 to 1), Justice Harlan alone being in dissent. The claim had been set up that suits to restrain a State official from enforcing a State law are suits against the State, preventing it from carrying on its governmental functions, and that under the Eleventh Amendment to the Federal Constitution this was forbidden. The Supreme Court , however, held that this amendment qid not apply in cases like those under review, but that the Fourteenth Amendment governed, and that by the termli of this amendment no State can deprive any person of life, liberty or property without due process of law, nor deny to any person within its jurisdiction the equal protection of the laws. The Court also held that the authority of the Federal Courts was supreme in such cases. In trade matters , some fractional advances in the price of copper attracted atte ntion, and enabled Thomas W. Lawson to dispose of 700,000 shares ($5 each) of Yukon Gold stock by his usual specta cular methods of advertising. A somewhat more hopeful view of the immediate future of the iron and steel trades was also taken, and some remarks in the annual report of the United States Steel Corp., issued March 20, seemed to afford ground for this feeling. There were, however, many trade developments of the opposite nature. In the cotton goods trade, pretty general reductions in wages were announced (outside of Fall River, where the operatives were working under a sliding wage-scale with adjustment every six months) , the cuts generally amounting to 10%. Further curtailment of production was also decided upon. Even at the mills in Fall River owned by Mr. Borden, the American Printing Co . and the Fall River Iron Works , half-time running was entered upon March 23. Print cloths at Fall River were successively reduced from 3%c. to 3½c., to 3%c., to 3¼c. There was also a sharp decline in cotton, middling uplands in New York March 31 being 10.50c., aga inst 20 RETROSPECT. 11 .65c. March 2. In the matter of railroad wages, a proposed reduction on the Southern Ry. had been referred to Chairman Knapp of the Inter-State Commerce Commission and Commissioner of Labor Neill, as mediators, under Section 2 of the Erdman law; the mediators made a recom mendation, which was accepted, that the schedule of wages then in force in the operating, mechanical and roadway departments be continued unchanged for the time being. The Norfolk & Western employees rejected a proposition wihch would have permitted a return to the wage scale in effect prior to the last advance, if earnings dropped to a certain figure. The new Federal law requiring that railroad, telephone and telegraph operators should not be kept on duty more than nine hours in any day went into effect March 4, the Inter-State Commerce Commission having denied the application for an extension of time on account of business depression. It was estimated that the new law would add $10,000,000 a year to the expenses of the roads. The last of the N. Y. Clearing-House loan certificates taken out by failed banks were canceled March 28; the last of those taken out by solvent institutions had been canceled Jan. 27. One of the favorable developments this month was the progress made in the reinstatement, through reorganization, of suspended banking institutions. The Knickerbocker Trust Co . of this city, after having remained closed since Oct. 22 1907, reopened March 26. In the case of the Oriental Bank of this city, which had closed Jan . 31, the depositors received payment under an arrangement with the Metropolitan Trust Co. The National Bank of Commerce of Kansas City, which had suspended Dec . 5 1907, reopened March 30, Comptroller of the Currency Ridgely having resigned to accept the presidency of the bank; later in the year change in the control of the bank induced him to relinquish his position. The Aldrich Currency Bill passed the Senate March 27 by a vote of 42 to 16, after it had been radically amended, more particularly by eliminating the provision allowing the use of railroad bonds as security for the proposed emergency notes-see V. 86, p. 825 ,829. Government deposits in the banks were reduced from $230 ,515,443 to 202 ,662,623 as a result of repayments (estimated at $35,000,000) into the Treasury, in response to the Secretary's call of the previous month. Treasury money holdings increased from $304 ,225,160 to $326,842,842. Bank circulation ecured by bonds was reduced from $632,458,712 to $628,834,336. Government de posits with the N. Y. City Clearing House banks were reduced from 55,386,500 Feb. 29 to 43,510,200 March 28. The Government report on stocks of grain in farmers' hands showed small reserves March 1, but the wheat figures were somewhat larger than had been expected, and wheat sharply declined, the May option at Chicago March 31 being only 92 cts, against $1 01½ March 4. In the case of corn there was a sharp advance. New York State offered $5 ,000,000 4 % 50-year highway bonds and the subscriptions reached 81,535,000; the awards were on an interest basis of 3 .694%. In Europe there were further evidenc<'s of plethoric money markets in a reduction in the Bank of England rate of discount March 5 from 4 to 3 ½% and March 19 to 3, and a reduction March 7 by the Bank of Germany from 6 to 5½%- In Copenhagen, one of the banks taken over the previous month, namely the Detailhandlers Bank, was declared to be insolvent. and had to be liquidated. Sevral more railroad receiverships were announced-among others, the Weste rn Maryland RR. Congressman Hepburn introduced a bill in the House of Representatives intended to ch ck dealings in stocks . It was part of the general attack on the stock and mercantile exchanges which was becoming so common all over the country. The bill proposed to place a tax of 50c. on each share of stock sold, this comparing with 2c. a share imposed under the laws of New York State . Fortunately, the bill never made any progress in the House. In the U.S. Senate, Senator Tillman had a resolution adopted directing the Committee on Finance to make an inquiry into the conduct of national banks. A delegation of labor leaders, headed by President Gompers of the American Federation of Labor, submitted a petition to the two Houses of Congress, criticizing the U.S . Supreme Court decisions with reference to the Employers' Liability Law and the application of the Anti-Trust Law in cases of a labor boycott.11.cting in restraint of trade, and demanded new legislation in redress of these so-called grievances. Most of their recommendations were incorporated in the special message which President Roosevelt sent to Congress on March 25, and referred to above, though Mr. Roa evelt would not go so far as to urge legalizing the boycott which the Supreme Court had condemned. The message was understood to haYl' been written in support of the bill prepared by Seth Low President of the National Civic Federation , and which was introduced in the House of Representatives by Congressman Hepburn on March 23. The Civic Federation bill itself had been drafted after extended conferences with the President . The Venezuelan Government again rejected the offer of the United States to arbitrate the disputes between the two countries over claims of American citizens and carporations, and the President sent to the Senate the documents and correspondence relating to the matter, with a view to the taking by Congress of such steps as that body might think fit. The House of Representatives on March 16, by a vote of 255 to 5, passed a bill restoring the motto "In God We Trust," which President Roosevelt had had removed the previous year from gold coins. This action was https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis taken after one of the Representatives had stated that the President had given assurance that if Congi:ess directed the restoration of the motto he would not veto that action. An invitation was extended by the Japanese Government, asking that the American battleship fleet, which had completed its trip from the Atlantic to the Pacific, and which was to make a cruise from San Francisco to the Philippine Islands, be allowed to visit Japan. The invitation was promptly accepted, and the following autumn the American fleet was enthusiastically welcomed in Japanese waters. Some friction developed between Japan and China on account of the seizure the previous month by the Chinese customs authorities of the Japanese steamship Tatsu Maru, having on board arms consigned to revolutionary parties in the southern provinces of China. Japan sent a peremptory demand for the release of the steamship and cargo, and this China was forced to comply with. In the Supreme Court of the District of Columbia an order enjoining the American Federation of Labor from engaging in a boycott, or, more specifically, from publishing the name of the Bucks Stove & Range Co. of St. Louis in the "Unfair List" of the Federation's monthly magazine, was made permanent. James F. Shaw & Co. of. Boston, promoters of street railway enterprises, were placed in receiver's hands. In the case of the American Ice Company, where Attorney-General Jackson, at his own request, had been substituted by Governor Hughes as prosecuting officer in place of District Attorney Jerome, the special Grand Jury to whom the Attorney General submitted his evidence, tending to show a violation of the State Anti-Trust laws, voted not to indict. The Attorney-General also got into difficulties with reference to his action concerning the receiverships of various State banking institutions, some serious allegations against his office having been made, leading to criminations and recriminations. The Appellate Division, First Department, of the New York Supreme Court rendered a decision holding unconstitutional that part of the Stock Transfer law giving the State Comptroller the right to examine the books of brokers. The Court held that the Legislature could not compel a citizen against his will to submit to a search of his private books and papers in order that incriminating evidence against him might be found. Judge Holt in the U. S. Circuit Court sustained the demurrer of the American Sugar Refining Co. to the complaint in an action brought by the Receiver of the Pennsylvania Sugar Refining Co., alleging violation of the Sherman Anti-Trust Law. Judge Holt based his decision on the opinion of the U.S. Supreme Court in the case of the United States against the E. C. Knight Co. ,where it was held that manufacture was not trade or commerce. The following December, however, the U. S. Circuit Court of Appeals at New York reversed this decision and remanded the case to the lower Court for trial-see V. 87, p.1608. Railroad Events and Stock Exchange Matters .-The stock market displayed great strength most of the month. The moving causes are outlined in what has been said above. The reduction Mar. 18 in the .... Y. Central dividend from 6 to 5% per annum gave a temporary check to the upward movement, which, however, was soon resumed. The latter part of the month the favorable decisions of the U. S. Supreme Court and the President's special message, so much more temperate than the last preceding message, were powerful influences in stimulating a further adYance . The splendid annual report of the Steel Corporation also had an influence in the same direction. All through the month the Steel shares were prominent for their strength. The copper shares were helped by the somewhat improved outlook in the copper market. The last three days prices sharply re-acted, owing to the practical certainty of a strike at the bituminous coal mines throughout the country on Apr. 1, the difficulty of the Erie Railroad in providing for its maturing short-term notes , and the prospect of a reduction in the Atchison divi<lend. Mil. & St. P. com. advanced from 108½ Mar. 2 to 120 ½ Mar. 16 and closed Mar . 31 at 115½; Nor. Pac. rose from 120¾ Mar . 2 to 1291/s Mar. 24 and closed at 1261/g; Gr. Nor . from 117 advanced to 124¾ and closed at 122¼; Un Pac. com. rose from 110½ to 129, closing at 123½; N. Y. Cent. from 93½ to 101¾, closing at 97; Penn. from 111% to 118¾, closing at 115%. Among the industrial shares U.S. Steel pref. rose from 92¼ to 100, with the close 98, and Amal . Cop. from 49¾ to 62¾, with the close 58½. Consol. Gas on favorable Court action spurted up from 96 to 117 ¼, with the close 112 ¼. The Public Service Commission for the Second District denied the Erie RR. authority to issue scrip for the dividends declared payable the previous Oct. on its two issues of prt:if. stock and April 1908 on 2d pref. Cal. & Hecla Mining Co. declared $5 per share div. against $10 in Dec. 1907, $15 in Sept. 1907 and $20 per share at previous quarterly dates The Amer. Smelting & Refining Co. reduced its quar. div. on com. from 2 to 1% . Other copper companies also further reduced. West. Un. Tel. again made its quar. div. payable in stock. The Pac. Coast Co. reduced its quar. div. on both com. and 2d pref. On the other hand, the Minn. St. P. & Sault Ste. M. advanced the semi-annual div. on com. from 2 to3%. Crucihle Steel of Amer. passed its pref. div. Chic. R. I. & Pac. Ry. extended for one year at 6% its $6,000,000 twoyear 4 ½% notes maturing Apr. 1 1908. U. S. Rubber Co. :floated $8,000,000 of 5% notes due Sept. 15 1909 to refund a like amount of notes maturing Mar. 15 1908. '!.'he Money Market.-Continued ease prevaile notwithI standing the withdrawal of Government depo . from the RETROSPECT. banks. Call loan rates never got above 2¼, with the range Mar. 31 l½@l¾. Time loans at the close were 3 for 60days, 3¼@3½ for 90 days, 3¾@4 for four mos. and 4@4¼ for five to six mos. Commercial paper was quoted at 5½@6 for double names and for prime single names. Surplus reserves of the Clearing-House banks rose from $27,789,075 Feb. 29 to $42,040,050 Mar. 21 and were$38,395,625 Mar.28. Money holdings rose from $321,993,700 Feb. 29 to $339,153,500 Mar. 28. Loans fluctuated from week to week and were $1,175,122,400 Mar. 28 against $1,166,988,400 Feb. 29. Depositsdeclinedfrom$1,176,818,-500Feb.29to$1 ,174,517,300 Mar. 7 and then increased to $1,203,031,500 Mar.28. Foreign Exchange, Silver &c.-For~ign exchange was devoid of any special features most of the month and the fluctuations were compassed within a relatively narrow range. The first half there were larger or smaller offerings of bankers' bills, reported to have been drawn against corporation collateral notes that had been placed abroad, and some against N. Y . City revenue bonds. It was also then expected that the successful bidders among large bankers for the $5,000,000 4% N . Y. State issue of Highway Improvement bonds would find a market for some of them in Europe, thus bringing further offerings of exchange. Towards the close of the month, on attempts to obtain cover for short sales , a sharp recovery ensued, and this, together with a fall in rates for sterling at Paris on London, led to a discussion of the possibility of early gold exports to France. On Mar. 2 quotations were 4 8370@4 8375 for 60-day bills, 4 8665@4 8670 for sight bills and 4 87@4 8705 for cable transfers. On Mar. 17 prices were respectively 4 8305@4 8310, 4 8580@4 8585 and 4 8605@4 8610. On Mar. 31 the figures were 4 8415@ 4 8425,. 4 8640@4 8650 and 4 8670@4 8675. As noted above, the Bank of England rate of discount was reduced from 4 to 3½ and then to 3%,and the Bank of Germany from 6 to 5½. Except at. London, however, there was some firmness in open market rates. At Paris the rate advanced to 21/s. At Berlin and Frankfort it at one time was 4½ but the close was 4¾. At London discounts dropped to 21/s@ 2 ½- Silver in London fluctuated within a narrow range and Mar. 31 was 25 9-16d. APRIL.-Current Events.-While trade continued exceedingly de pressed, there was, nevertheless, further distinct improvement in the tone in financial circles and further appreciation in values on the Stock Exchange. Certain events furnished substantial grounds for a better feeling, chief among which was the favorable outcome of the negotiations for financing the pressing obligations of the Erie Railroad. This came early in the month. Up to the last moment it had seemed almost certain that the negotiations must fail, and the fact that an adjustment was reached came as an agreeable surprise. The Erie had $5,500,000 of one-year notes maturing April 8th. To take these up the directors had created an issue of $15,000,000 new 3-year 6% notes,of which $5,500,000 were to be exchanged for the old notes and $5,000,000 sold at par, the remainder to be reserved for future uses. An offer of the new notes for the old notes was made and a syndicate headed by J. P. Morgan & Co. agreed to underwrite the $5,000,000 of new notes to be disposed of for cash (without commission or cost to the company), but the sale was expressly conditioned on the exchange of all of the $5, 500,000 old notes7 par for par , for the new notes. The old note holders, however, evinced a decided disinclination to make the exchange. Mr. E. H. Harriman, a director in the road, then stepped into the breach and offered to purchase $5,500,000 of the new notes to provide the cash to pay off the old notes. This offer was at once aceepted and at the same time the J. P. Morgan syndicate took the other $5,000,000 of notes in accordance with the original plan, thus providing in full for the company's necessities. The signifiance of this event can hardly be exaggerated, for the belief had widely prevailed that a receivership for the company was inevitable. Another important event was the offering ,through Kuhn, Loeb & Co ., of $40,000,000, or £8 ,000,000, 40-year 4% bonds of the Pennsylvania RR .., secured by the consol. mtge. of 1873. A simultaneous issue (of one-half the amount) was made in London through N. M. Rothschild & Sons and Baring Brothers & Co., Ltd. The bonds being gilt-edged and offered at 96, success was a foregone conclusion; but no such enormous subscriptions as were actually received had been looked for. It was estimated the loan had been subscribed for over twenty-five times. Conditions being more favorable, various other loans were also brought out , as noted below, under "Railroad Events". Investors took kindly only to first-class loans, but even this was evidence of reviving confidence. Mr. Roosevelt sent another special message to Congress-the third within a brief period -urging labor and trust legislation along the lines previously . advocated by him, but it was practically ignored. Congress passed a new Employers' Liability bill, which the President approved, to overcome the objections of the U. S. Supreme Court to the old Liability Act, declared unconstitutional in January. The bill for amending the Sherman Anti-Trust Law, however, prepared by the Civic Federation, was strongly antagonized by mercantile bodies and others, and made little progress. Governor Hughes sent a special message to the N. Y. Legislature, urging, among other things, the making of an investigation into the subject of speculation in stocks and commodities. The https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I 21 · Legislature adjourned April 23 without having acted on this suggestion, and also without having passed the law, • desired by Mr. Hughes, giving the Public Service Commission authority over telephone and telegraph companies. The Anti-Race Track Gambling Bill, so strongly advocated by the Governor, had been defeated in the Senate. Within three hours after adjournment, Mr. Hughes issued a proclamation convening the Legislature in extraordinary session on May 11 at 8:30 p. m. A pretty general suspension of coal mining occurred in the bituminous regions throughout the country beginning with April 1, but this attracted very little attention in view of the prostration of business diminishing the demand for coal. The suspension ·arose out of the fact that the old wage schedule had expired April 1 and no agreement had been reached on a new schedule. By degrees, however, matters were arranged. At a joint inter-State conference of operators and miners from Indiana and Ohio and the Pittsburgh district of Pennsylvania, held on April 17, an agreement was reached to continue the old mining rates for two years until April 1 1910. This was subject to a vote of the miners and work was not resumed to any great extent until May. In the Southwest the old mining scales were also extended for two years. In Iowa an agreement was reached extending the scale for a yBar. In Illinois progress was more slow, but here too a settlement was reached early the next month. Where work, therefore, was not fully resumed some time the next month, it was chiefly because depression in trade had limited the demand for coal and there was a desire to avoid overstocking the market, though it is proper to say that in and around Evansville, Ind., some miner.s went on strike May 14. Government disbursements lar2;ely exceeded Government revenues and cash in sub-Treasuries fell from $326,842,842 to $319,129,853, notwithstanding that Government deposits in the banks were drawn down from $202,662,623 to $200,713,219. On April 28 Mr. Cortelyou made a call for $45,000,000 more of Government deposits, $20,000,000 to b surrend red by May 9 and the rest by May 23. National bank circulation secured by bonds was further reduced from $628,834,336 to $625,425,375. The outstanding volume of not s, however, continued slowly to increase, owing to the fact that deposits of legal tenders to retire the notes were large and the notes came in for redcm ption very slowly . The Government report on winter wheat wasvery satisfactory, the condition, Apr. 1, being given 91.3. This, with rains in the Southwest, breaking the drought which had existed in that section, caused:)a decline in wheat, the May option at Chicago on April 8 getting down to 89 cts. Later in the month reports of dry weather were again received, and there was also considerable manipulation of the May option, and by April 30 the price had advanced to 99¾ cts. Middling upland cotton in New York declined from 10.50c. to 9.90c., but the close April 30 was at 10.30c. Print cloths at Fall River remain d nominal all the month at 3 ¼c. Two Brooklyn institutions, which had clo.3ed the previous October, re-opened for business, namely the Jenkins Trust Co., whose name was later changed to the Lafayette Trust Co., and the Borough Bank; the Lafayette Trust Co., however, was forced to close again Nov. 30. Two Stock Exchange houses in this city, T. A. McIntyre & Co. and Coster, Knapp & Co ., announced their suspension. Among the laws passed by the ew York Legislature during the session was a compreh nsive scheme of banking reforms embodied in 21 separate bills, increasing the powers of the Superintendent of Banks and providing for a much more rigid supervision of banks and banking by the State. One of the measures increases the cash reserves required to be held by trust companies. Under the law of 19J6 trust companies~ n cities having a population of over 00 ,OL.lO (applying, therefore, to all the boroughs in the Greater New York) had to keep a reserve fund equal to 15% of their deposits. · Only one-third of this, namely 5%, needed to consist of cash in vaults. Another 5% might consist of U. S. bonds and New York State and munici pal bonds, while the remaining 5% had to consist of money on deposit, subject to call, in certain other banking institutions. Elsewhere in the State a reserve of 10% was required , of which 3% had to be cash in vault. Under 1the new law, the whole of the 15 % in the case of Manhattan Borough (any borough having a population of 1,800,000) and 10 per cent in the case of the other boroughs, must consist of cash on hand, and the balance be on deposit with other institutions. Elsewhere in the State 5% out of the 10% must be cash on hand (instead of only 3% previously) and 5% on deposit. In the computation of the reserve, however, important deductions from the deposits are allowed, the law saying that the deposits shall be figured "exclusive of moneys held by it (the trust company) in trust which are not made payable under the conditions of the trust within thirty days and also exclusive of time deposits not payable within thirty days, represented by certificates showing the amount of the deposits, the date of issue, and the date when due, and also exclusive of deposits which are secured by outstanding unmatured bonds issued by the State of New York"-the purpose evidently being to rest the reserve requirements on the demand deposits. The new law allows the additional cash to be accumulated gradually, the full amount not being required until Feb. 1 1909. The Legislature also increased the reserve requirements of the State banks of loan and discount. Instead of a reserve of 15% 22 . RETROSPECT. legislation would fail notwithstanding the pressure which Pres.Roosevelt was bringing to bear. Congress adjourned May 30 after having passed an Emergency Currency bill, but a number of other measures which the President had insisted on did not even come to a vote. Among these measures were the two which had been particularly feared, namely the Anti-Injunction Bill, limiting the power of the courts to issue injunctions, and the bill for amending the Sherman Anti-Trust Law, intended to give the Federal authorities absolute and arbitrary control over corporations engaged in inter-State business. It seemed certain, too, that Secretary of War Taft would get the Republican nomination for President, talk of stampeding the Convention for Pres. Roosevelt for a third term having almost ceased. The Emergency Currency Bill, which was enacted, was a composite measure. The House Committee on Banking and Currency had the previous month (the 17th) unanimously tabled the Aldrich Bill as it had come from the Senate and had also tabled on Apr. 20 by a vote of 12 to 3 the bill offered by Congressman Vreeland providing for the creation of associations of banks and the issuance of emergency notes based upon commercial paper and other assets. It accordingly seemed as if all currency legislation would fail, but Speaker Cannon was very active and at a conference of the Republican members of the House on May 6th, the Republicans , by a vote of 115 to 21, placed themselves on record as approving "recognition of comercial paper through ClearingHouse associations as a safe and logical asset for emergency currency;" a committee of five was appointed to draft a bill along these lines. The bill as prepared was accepted by a Republican conference May 11 by a vote of 128 to 16. It was then rushed through the House and passed May 14 by 184 to 145. The Senate the next day promptly reje cted this House Bill and substituted for it the original Aldrich Bill, after eliminating from it certain provisions against which strong objections had been raised. The matter then went to conferees of the two Houses. The views of the conferees were so wide apart that again it seemed as if all currency legislation would fail. A compromise was finally reached by adopting the distinctive features embodied in the bill of each House.. This compromise bill was agreed to by the Senate and House conferees May 27 and was promptly passed by the House the same day by a vote of 166 to 140. In the Senate fillibustering tactics were employed by Senator La Follette (who spoke almost continuously from 12:30 May 29 until 7 o'clock in the morning of May 30) and two or three other members, but the bill passed in the afternoon of May 30 and was immediately approved by the President. It provides for a maximum of $500,000,000 of emergency notes to be obtained in two ways: (1) on the direct application of a bank on the offering as security of State and mun:cipal bonds and (2) on the application of individual banks through national currency associations composed of banks each having an unimpaired capital and a surplus of not less than 20% and consisting of not less than ten banks with an aggregate capital and surplus of at least $5,000,000, the collateral to be offered in this case being "any securities including commercial paper." The notes are to be taxed at the rate of 5% per annum for the first month they are out increasing 1% per annum for each additional month they remain out, until 10% is reachd. The law also provides for the payment by the banks of interest on Government deposits, the rate to be at the discretion of the Secretary of the Treasury, but not less than 1 % a year. The banks need not hold any cash reserves against such Government deposits. The law expires by limitation on June 30 1914 and under it a monetary commission has been created composed ofninemembersfromeachHousetoconsiderthewholequestion of currency legislation. This Commission is now actively at work studying the subject. Attempts to revive trade were made by a number of business men in St. Louis who organized what was called a National Prosperity Association, the idea being to have branches throughout the country. Efforts were devoted mainly to inducing manufacturers and producers to agree to a general resumption of work on June 1. Very little evidence of improvement in business was discernible. A reduction in the price of Southern iron led to the giving of some fairly liberal orders , and cuts in the prices of cotton goods had the same effect in the dry goods market. Another meeting of leading steel manufacturers from different parts of the United States was held on May 21 in the offices of the United States Steel Corporation. It was again decided to maintain the existing schedule of prices. After the close of the month, however, on June 1, it was announced that a cut of $4 a ton in bar steel had been authorized on that day by a committee of manufacturers of bar steel, the basing price at Pittsburgh being reduced from $1.60 per 100 pounds to $1.40. It appeared that some of the smaller manufacturers of steel bars had forced this action. The price of bar iron was at the same time reduced from $30 a ton to $27, and in June reductions in other forms of steel were made. At Fall River a wage agreement involving a cut in wages of 17.94% went into effect May 25. Mr. M. C. D. Borden, though not a member of the Manufacturers' Association , posted notices of a similar reduction at the mills of bis Fall River Iron Works Co., and also announced that there would be an immediate resumption of full-time working. by his plant. Quite a few mills elsewhere in New EngMAY.-Current Events.-The tone in financial circles land also decided to resume working full time. Print cloths further improved. As the month progressed, it became in- at Fall River were 3 ¼ cts. up to the 4th, when there was reasingly apparent that much of the threatened harmful a reduction to 3½ cts.; but, on the.:_22d the price again re- for the banks of this city, of which one-half bad to be cash in their own possession, the law has been changed so as to increase the reserves to 25% in boroughs having a population of 1,800,000 or over, to 20% in boroughs having a population of 1,000,000 or over and less than 1,800,000, and to 15% in banks located elsewhere in the State. Two-fifths of the 25% may be on deposit with other institutions in the case of Manhattan Borough; one-half of the 20% required of Brooklyn Borough and one-half of the 15% required in other boroughs may be so kept on deposit and three-fif tbs of the 15% required elsewhere in the State (or 9%) may be kept on deposit. Under the old law State banks outside of this city were required to keep only 10% reserve, of which one-half had to be cash in vault. The New York Legislature also passed what was known as the Cassidy Anti-Bucket Shop Bill. Sir Henry CampbellBannerman died after having previously resigned the office of Prime Minister. He was succeeded by Mr. Asquith, who had held the office of Chancellor of the Exchequer. An Imperial German 10-year 4% loan for $160,000,000 and $100,000,000 Prussian 4% consols were brought out in Ber.lin and largely over-subscribed. A disastrous fire occurred at. Chelsea, Mass., Sunday, April 12, burning over one square mile of territory in the manufacturing, tenement and retail business sections and resulting in a fire loss estimated at $13,000,000. · Railroad Events and Stock Exchange Matters .-Continued strength prevailed in the stock market and further large and general advances in prices occurred. Returns of railroad gross earnings for April were exceedingly poor, but a feature of some importance was the fact that the returns of net earnings coming in for March made it manifest that the roads were at length getting better control of their expense accounts. Mil. & St. P. com. from 115¼ April 4 advanced to 129½ April 28 and closed at 127¾. Nor Pac. rose from 125 ¼ April 4 to 134½x April 28 and closed at 131 ½. N. Y. Cen. moved up from 96½ April 3 to 101 ½ April 28 and closed at 99¾. Penn. was 115½ April 3 and 121 ¾ April 28 and closed at 119 ¾. Union Pac. com. from 123% April 4 reached 138½ April 28 and closed at 135. U. S. Steel com. ranged between 32% and 37 and closed at 35½, and Amal. Cop., after fluctuating between 56% and 62 ½x, closed at 59 ½ . Among the local traction shares Third Avenue stock rose from 18 ¾ April 1 to 39 April 13, with the close 31~8. We have referred above to the success of the $40,000,000 loan of the Pennsvlvania RR. J.P. Morgan & Co. and Drexel & Co. offered at 91 $15,150,000 of Chic. Ind. & So. 50-yr. 4% bonds, guar. by the L. S. & Mich. So. The Norf. & West. sold $7,500,000 2-yr. 5% secured notes. Bost . & Alb. disposed of $7,000,000 4% 25-yr. bonds guar. by N. Y. Cent. The Interb. Rap. Tran. Co. brought out $25,000,000 3-yr. 6% notes. They were underwritten by J. P. Morgan & Co. and the loan proved a great success. Atch. Top. & Santa Fe on April 1 reduced the s.-a. div. on com. from 3% to 2½, and the Norf. & West. on April 23 announced 2% s.-a. on com., against the previous 2½. Int. Paper Co. reduced its pref. div. from a basis of 6% to 4%. The United Metals Selling Co. cut its div. from a basis of 30% to 20%. The U.S. Express Co., which the previous November, on the complaint of dissatisfied stockholders, bad increased its s.-a. div. from a basis of 4% per annum to 6%, returned to the former rate. The Money Market.-There was continued congestion of funds, notwithstanding the gold exports. Call money April 30 was 1¾@2, while time money was 2¼@2½for 60 days,2½ @3 for 90 days,3@3¼ for 4 mos.,3½@3¾ for 5 to 6 mos., and 4 ½@4 ¾ for over the year. Commercial paper was 4@4½ for double names and the best single names and 4½@5 for good single names. Money holdings of the Clearing-House banks increased from $346,264,800 April 4 (actual condition, not averages) to $377,006,400 May 2, while surplus reserve rose from $42,671,350 to $61,736,525 April 25, and then fell off to $60,810,875 May 2. Deposits increased from $1,214,373,800 to $1,264,782,100. Loans fluctuated more or less and were $1,194,148,800 May 2, against $1,179,474,700 April 4. Foreign Exchange, Silver, &c.-Gold exports were the chief event in foreign exchange, about $12,000,000 being engaged or Paris and $2,500,000 going to Montreal. Exchange was strong most of the month. Offerings of bills were in limited volume, and there was a dearth of commodity drafts, reflecting, chiefly, the small export movement of cotton, while there was an active demand for bills, said to be to furnish cover for contracts for future delivery of exchange made early in the year, and which were now maturing. At the close the tone was somewhat easier, one feature being offerings of bills against purchases of securities here for European account. The high point was April 21, when long sterling was at 4 85@4 8505 ; sight 4 8735@4 8740 and cable transfers 4 8775@4 8785. April 30 prices were 4 8460@4 S470, 4 87@4 8705 and 4 8730@4 8740, respectively. The Bank of Germany reduced its discount rate April 27 from 5 ½ to 5%. In the open market discounts April 30, were 2¾ at London, 2% at Paris and 4¼ at Berlin and Frankfort. The course of silver in London was downward, with the quotation April 30 24 5-16d. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RETROSPECT. covered to 3 ¼. In cotton a sharp advance occurred in part as the result of floods in Oklahoma and Texas. Mid-dling uplands in New York .were 10.20 cts. May 1 and 11.50 . -cts. May 25 , with the close May 29 at 11 .40 cts. Commissioner Herbert Knox Smith of the Bureau of Corporations issued his report on the investigation of the cotton exchanges of the country , in which the method of grading cotton at the N. Y. Cotton Exchange was criticised. Under the Treasury -call of the previous month $45,000,000 of Government deposits were surrendered, but Government disbursements largely exceeded receipts, and Treasury cash holdings in-creased only from $319;129,853, to• $345,416 ,802 , while Government deposits with the banks ran down from $200,713,219 to $164,912,412. Bank notes outstanding secured by bonds were further decreased from $625 ,425,375 to $624,714,147. New loan flotations were numerous. J. P .Morgan & Co. offered $16 ,000 ,000 gen. mtge. 50-yr. 4s of the Chic. Burl. & Quincy at 95½, and the loan was so largely oversubscribed that the price almost immediately advanced to 97. Redmond & Co. and the Equitable Trust Co. of this city offered at 98½ $17,000,000 1st lien 5-yr. 6% guar. gold notes of the Tidewater Co. 1:1,nd these also were over-subscribed. It also developed that the syndicate which at the close of April had offered $25 ,000,000 Interborough Rap. Trans. 3-yr. conv. 6% notes had not been obliged to take any of the issue itself and the members of the syndicate received about 2¾% on their subscriptions without having been obliged to advance any cash. Perhaps the most exhilarating event was the news which came the first half of the month that the needs of the So. Ry. for the immediate future (including some 5% sterling notes maturing in June and July) had been taken care of through the sale to a syndicate headed by J.P. Morgan & Co. of $15,000,000 3-yr . 6% conv. gold notes. New York City succeeded in placing $38,·527 ,000 of its current revenue bonds at low interest rates3 ½ @3 ¾%, A syndicate also took an option on $7,000,000 of the city's long-term bonds bearing only 4% interest, being the remnant of an offering made in August of the previous year, subsequent to which the rate of interest had to be raised to 4½%, The Federal Government May 22 began an action against the N. Y. N. H. & Hart. RR. under the Anti-Trust Law because of its acquisition of the Bos. & Me. RR. and about 1,500 miles of trolley road. Two weeks before the Supreme Judicial Court of Mass. , in a suit brought by the Att. Gen. of that Commonwealth, had handed down a decision holding that the company had exceeded its powers in acquiring control over the Mass. trolley roads. One of the important events of the month was the conference at Washington (held in response to a call of Pres. Roosevelt) -0f the Governors of the different States, together with the IJ.eaders in the industrial world, and U. S. Senators, Congressmen and Justices of the Supreme Court and Cabinet Ministers. The purpose of this conference was to secure co-operation on the part of Federal and State officials, and all tl;lose in authority, in husbanding the country's natural resources, and preventing waste and dissipation of the same. The New York State Legislature convened in special session on May 11, and the Governor urged anew all his projects which had failed at the regular session, one of these being t he appointment of unpaid .commissioners to inquire into uthe facts relating to speculation in securities and commodities ." but did not refer to the matter of race track gambling , which was the main purpose in calling the Legislature together. This subject was held over for a later date when the chances for the passage of an Anti-Gambling Bill would be better. The Governor vetoed the Act passed at the regular session which was intended to provide a five cent fare from Manhattan to Coney Island, and he also vetoed t he Bill for amending the Rapid Transit Law, which would have authorized the construction of rapid transit subways by private ca pital. The Governor said that the latter bill provided for 50-yr. grants and he did not believe in the city l osing control over its highways for rapid tran sit purposes for so long a period. The Union Trust Co. of Providence, R. I., which h ad su spended the previous Oct. , resumed business May 4 . On the other hand , the Allegheny Nat. Bank of Pittsburgh , through a la rge defalcation of its Cashier , was -0bliged to close its doors. This failure was supposed to have had extensive political ramifications. James Carothers & Co., a Pittsburgh Stock Exchange house, was placed in ;receiver 's hands, as also the firm of George W. Ma cMullen & Co. of the same city. A number of Cleveland institutions also went to the wall, namely the Euclid Trust Co., the Reserve Trust Co. and the American Savings Bank Co. Inman & Co., cotton commission merchants of Augusta, Ga., with liabilities of over 1 ¾ million dollars , w ere also forced into .bankruptcy. In this city the N. Y . Stock E x change firm of Mayer & Co., which had assigned the previous Oct.,resumed business. The month was exceedingly wet , and in Montana Kansas, Texas and the Southwest generally extensive floods :and washouts were reported. Considerable m anipulation of grain prices took place, based in part on the flood situation, and at Chicago a corner in the May option in corn was engineered under which the price of that option at that point at one time was advanced to 82 ¾ cts. The British Prime Minister Mr. Asquith, submitted the annual budget to the British Parliament, and one of the features in it was a provision for old-age pensions. A rumored invasion of India !by a large force of Afghans which attacked the British frontier ll)Osts caused a sharp fall in consols early in the~month, but the https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 23 Afghan demonstration was quickly checked by the prompt action of the British forces, and consols accordingly recovered. Later in the month they sharply advanced, closing May 30 at 88 as against only 85 3-16 May 4. Some more arbitration treaties between the U.S. and foreign countries were ratified by the U. S. Senate, making twelve such arbitration conventions altogether approved; namely with Denmark, France, Great Britain, Italy, Japan, Mexico, the Netherlands, Norway, Portugal, Spain, Sweden and Switzerland. Eleven of the Hague conventions entered into the previous year at the Hague Peace Conference were also ratified by the Senate during the session. Considerable changes were made by the Rhode Island Legislature in the laws regulating the investments of savings banks; the next month the Mass. law also was changed. The long contest between Mayor Tom L . Johnson and the trolley lines of Cleveland eventuated in the turning over of the lines to the Municipal · Traction Co., a company supposed to have been organized in the interests of the city. Complaints immediately began i:egarding the service and the employees also became dissatisfied and ext ensive strikes were inaugurated. Later in the year the electors refused to approve the franchise granted, and the whole scheme fell through. The Appellate Division of the Supreme Court of this State (First Department) unanimously denied the application of Att. Gen. Jackson to bring suit to forfeit the charter of the Interborough-Met. Co. , and Justice McCall in the Supreme Court in this city denied the application of the Att. Gen. for permission to bring action against the West. Un. Tel. Co. and the Postal Tel. & Cable Co. , to annul their charters, on the ground of the violation of the State Anti-Trusi Law. The U. S. Supreme Court, in a test case against the Gal v. Har. & San Ant. Ry. , by a vote of five to four , held unconstitutional the Texas Law passed in 1905 imposing an annual tax on railroads equal to 1 % of their ~ross earnings in such proportion as the length of the line within the State bears to the total length. It was held that the tax was an interference with inter-State commerce. Governor Hughes signed the bill providing for registration of land titles based upon the Torrens , or Australian , system. Railroad Events and Stock Exchange Matters .-The speculation for higher prices made further noteworthy progress. The rise proceeded in face of continued heavy losses in railroad gross earnings, though, on the other hand, comparisons as to net earnings were in many cases very much better than they had been. About the 20th the market became topheavy and on the 22d the announcement from Washington that the Government had determined to begin an action against the N. Y. N. H . & H. RR. under the Anti-Trust Law dealt prices a staggering blow, leading to a severe and general collapse. After a few days , recovery again took place, though Mo. Pac. and other Gould stocks proved weak features on the news of a receivership for the Wabash-Pittsburgh Terminal Ry. Mo. Pac. sold up from 45¼ May 1 to 64½ May 20 and closed at 47½ May 29. Mil. & St. Paul com. advanced from 127 ½ May 1 to 140 May 19, with the close 130¼. Nor. Pac. sold up from 1311/s May 1 to 138½ May 19; in the break the latter part of the month it declirted to 129 ½ May 27, but closed May 29 at 134¼. So. Pac. com. was 781/s May 1, 89¾ May 19 and 84¼ May 29. Un. Pac. com. was perhaps the most pronounced feature of all, rising from 1341/s May 1 to 151 ½ May 19. It closed at 141. Amal. Cop. was 59¼ May 1, 69¾ May 19, with the close 64¾. U.S. Steel com. was 35½ May 1, 391/s May 18 and 37¼ May 29. The plan for the merger of the several Mexican roads having proved a success, a syndicate of bankers in this country and Europe offered at 94 $13,750,000 of the new company's (National Railways of Mexico) prior lien 4½% bonds, due in 1957. Subscriptions closed June 3 and the loa n was said to have been over-subscribed. Ill. Cent. shareholders authorized $28,512,000 new stock and $14,256,000 was offered to shareholders at p ar. R eceivers were appointed for the Wa bash-Pittsburgh Terminal Ry. , the company being unable to meet the interest due June 1 1908 on its $30,200,000 1st mtge . 4s . The Oklahoma Central Ry. was placed in the hands of a receiver. The Pennsylvania RR. reduced its semi-annual dividend from 3 ½ t o 3% . The Quincy Copper Mining Co. again reduced its dividend , making a quarterly declaration of only 4%, against quarterly payments of 18% at. 'the beginning of 1907. On the other hand, the North Butte (Copper) Mining Co. resumed dividends after an int ermission of six months. 1'he Money Mark et.-Money rates remained extremely low notwithstanding the large gold exports and the surrender of $45 ,000,000 Government deposits. Call loans at one time dropped to 1% and trust companies were in active competition with the banks . Only choice grades of commercial paper were in demand. Good ordinary grades appeared to be plentiful , but did not seem attractive to buyers. Money holdings of the Clearing-House banks rose from $377 ,006 ,400 May 2d to $386,268,800 May 9, and then dropped to $368,589 ,000 May 29 . Surplus reserves the first week increased from $60 ,810 ,875 to $67,112,725, and then declined to $46,262 ,950 May 29. Loans increased from $1,194,148,800 May 2 to $1,220 ,089 ,300 May 23 and were $1,218,677 ,900 May 29. Deposits increased from $1,264,782,100 May 2 to $1 ,302 ,135,100 May 23 and were $1,289,304,200 May 29. Time loans at the close were 2 ½ for 60 days, 2¾@3 for 90 days , 3 @3¼ for 4 mps., 3 ½ for 5 mos., 3½@3¾ for 6 mos. and 4 ¼ @4 ½ for 7 to 8 mos. Rates for paper were 3¾@4 for choice double names and 4@4 ½ for prime single names. · 24 RETROSPECT. Foreign Exchange, Silver, &c.-The foreign exchange market was strong almost throughout the whole of May and gold exports were on a very large scale, the engagements in one week reaching $13,455,000, so that the supply of gold bars at the Assay Office became exhausted. The gold was destined chiefly to Paris and Berlin, though one lot of $500,000 went to Switzerland. The demand for bills was stimulated by the existence of a short interest of some magnitude. There was also a more or less urgent demand to remit for American stocks sold for European account, with a view to realizing the profits that had accrued as a result of the boom in our stock market . The Bank of England rate was reduced from 3 to 2 ½% May 28. Rates for 60-day bills were at their highest on the closing day, May 29, namely 4 8555@4 8565, and sight bills were at their highest May 12 at 4 8730@4 8735, with the close May 29 at 4 8715@4 8720, while the high point for cable transfers was reached on May 9 at 4 8770@4 8775, with the close 4 8740@4 8750. Open market discounts got down to 1 % at the close at London, 1½@2 at Parisand 3¾ at Berlin and Frankfort. Silver at London fell to 24d. May 6 but recovered to 24 7-16d. at the close. JUNE.-Current Events.-The overshadowing event during June was the Republican National Convention. It was held at Chicago and resulted in the nomination of William H. Taft, Secretary of War in Roosevelt's Cabinet, for President. Mr. Taft was nominated on the first ballot. James S. Sherman of New York was named for Vice-President. President Roosevelt dominated everything connected with the Convention, and the platform adopted by it embodied nearly all the ideas and policies for which he bad been contending, including a demand for measures which Congress had failed to pass. Mr. Taft's nomination had been accepted as a foregone conclm;ion, and in financial circles a disposition had grown up to think that he would make an acceptable President, but the nature of the platform caused keen disappointment. At the Convention determined opposition developed against the insertion of an anti-injunction plank, and some change in the wording of this plank was made. As adopted, it involved a concession to labor leaders, inasmuch as it declared that "the rule of procedure in the Federal courts with respect to the issuance of the writ of injunction should be more accurately defined by statute, and no injunction or temporary restraining order should be issued without notice except where irreparable injury would result from the delay, in which case a speedy hearing thereafter should be granted," but at the same time declared in favor of upholding the authority and the integrity of the courts. This, and the expression in the platform of adhesion to the Roosevelt doctrines, created an unfavorable impression, as did the fact that Mr. Taft seemed anxious to identify himself completely with the Roosevelt policies. Indications also pointed more strongly with each succeeding day to the nomination of William J. Bryan at the Democratic Convention at Denver in July. There were, however, some other occurrences indicative of the development of a public sentiment opposed to .further radical Government action. At the Georgia primaries at the beginning of the month, Governor Hoke Smith, who had taken office only the year before (,June 1907), and had then been elected by a very large majority, was defeated for renomination for a second term. During bis brief period of administration , Mr. Smith had shown great hostility to railroad interests, and he was opposed at the primaries by the man whom he had removed from the Board of Railroad Commissioners, namely Joseph M. Brown . Mr. Brown , it appears, did not make a single speech, though wielding a trenchant pen, and he gained his victory because he stood for a more conservative policy and had declared himself in favor of abrogating the jurisdiction which had been given the Board of Railroad Commissioners over local public service corporations. The death of former President Grover Cleveland on June 24 served as a reminder of the days when it was not the fashion on the part of high Government officials to yield to the dictates of unreasoning public clamor. Mr. Cleveland's death brought splendid tributes to his worth from the press and from persons in all walks of life and all shades of political belief. Other instances of a more conservatiYe spirit were also in evidence. Thus in Louisiana bill providing for anti-option legi -lation like that enacted in many of the other Southern States, so as to prevent dealings in cotton for future delivery, met with setbacks at the hands of the committees of both Houses, and early in July the bills were voted down by decisiye majorities in the two Houses. In Indiana the Railroad Commission gave a decision in favor of a trolley road in a case where fares had been advanced, and in Wisconsin the Supreme Court ruled against the Attorney-General in an action brought for the removal of the officers of the Mil. Elec. Ry. & Light Co. for the alleged corrupt use of money in securing the extension of the company's franchises in 1900. The Court held that the State had not sufficient interest in the matter to justify it in bringing such a suit, and also declared that the right to call men to the witness stand (under the so-called "discovery" statute of 1898), and examine them as to their private affairs, was a most serious invasion of their liberties, if not, indeed, a deprivation of property in many cases, and could be justified only on the ground that courts are entitled to the information in aid of a proper judicial proceeding. The re umption of full time by many cotton goods manufacturers and the starting up of business concerns in some other lines had the effect of mak- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ing the tone in trade circles a bit more cheerful. Encouragement was also derived from the fact that the number of idle cars on the railroads appeared to be djminishing. On the other hand the dry goods market, after its activity early in the month, began to halt again. The price of print cloths at Fall River remained unchanged at 3¼ cents. Middling uplands cotton in New York advanced from 11.30 cents June 1 to 12.20 cents June 19 and closed at 11.50 cents June 30. In the steel trade an important incident was the action of the steel manufacturers in reducing prices after a downward movement had been resisted for many months. On June 1, as noted above, a cut was made in both bar steei and bar iron. It was then explained that this action would not affect iron and steel prices generally, but on June 9 reductions were also announced in steel billets and certain classes of finished material-billets being marked down from $28 a ton to $25, Pittsburgh sheet bars from $29 to $27 and plates from $1 70 to $1 60. Crop advices were not uniformly favorable, but were on the whole good, and as it appeared that early reports of damage to the crops from rains had been exaggerated, prices declined. The latter part of the month, however, recoveries again ensued. The condition of winter wheat June 1 was given as 86, against 89 May 1 and against 77.4 June 1 1907; and the condition of spring wheat was 95 June 1, against 88.7 June 1 1907. New York State was able to place a batch of 3% canal bonds which the previous year had gone to the State sinking fund and were still held by it. A number of Brooklyn banking institutions which bad suspended during the panic of the previous· autumn resumed, more particularly the Williamsburgh Trust Co. and the Brooklyn Bank. The Home Bank of Brooklyn, which suspended Feb. 1 1908, also resumed. Two of the banks in this city, the Amer. Exch. Nat. and the Chemical Nat ., surrendered their holdings of Government deposits because the Aldrich-Vreeland Currency Law makes obligatory the payment of interest on Government deposits, except such as are held for the transaction of Government business. Aggregate Government deposits in the banks July 1 were $165,219,315, against $164,912,412 June 1. Money holdings, hov.ever, in Sub-Treasuries were reduced from $345,416,802' to $339,612,920. National bank circulation afloat on bonds stood at $623,250,517 June 30, against $624,714,147 May 29. The extraordinary session of the New York State Legislature ended June 11, and Governor Hughes, through delay in presenting the subject for the consideration of the Legislature (so as to allow a vacancy in the Senate to be filled and also to allow for the convalescence of another Senator, who was absent on account of severe illness) succeeded in having the bill providing for the abolition of race-track gambling passed. Some of the other measures recommended by him, however,. failed, among them the one which would have placed telephone and telegraph companies under the jurisdiction of the Public Service Commission. Commissioner of Labor Neill was delegated by the Secretary of Commerce and Labor at Washington to conduct an investigation of telegraph and telephone companies, in accordance with the resolution introduced by Senator La Follette and passed by the U. S. Senate before its adjournment. Bills in equity were filed by the U. S. Government in the U. S. Circuit Court at Philadelphia against the anthracite coal roads, to test the constitutionality of the commodities clause of the Hepburn Rate Law. In compliance with this same clause, the Hocking Valley Ry. Co. divested itself of its interest in coal properties along the line of its road-see Vol. 86, p. 1409. Julius Christensen & Co., a well-known Philadelphia bond house, was obliged to make an assignment, owing to the difficulty of negotiating traction securities in which it was very largely interested. A visit of King Edward of England to the Czar of Russia at Reval was one of the incidents of the month. Following very close upon the visit of the President of France to King Edward, the event was looked upon in Germany as an attempt to isolate Germany, but appar ntly the object was simply to promote continued peace. In the recount proceedings of William R. H earst and the State Attorney-General , to determine Mayor McClellan's title to his office, all the votes cast at the election in November 1905 were re-canvassed in the Supreme Court, and the final result showed a. plurality for Mr. McClellan only a few hundred short of the figur s reached when the vote was originally counted. In the case of the operation by receivers of the Metropolitan Street Ry. and ew York City Ry. lines, some further dismemberment of the system occurred, resulting in the cutting off of more free transfer privileges. Mr. Taft after his nomination resigned his post as Secretary of War, to become effe ctive June 30, and he was succeeded July 1 by Gen. Luke E. Wright who had held the post of Governor of the Philippines. A grand jury in the Supreme Court on June 20 returned four indictments against the American Ice Co. for alleged violation of the anti-trust laws in contracts made with independent companies. The jury acted in accordance with the views expressed by Judge Goff. Two previous grand juries had refused to indict. Judge Trieber in the U. S. Circuit Court at Little Rock granted a permanent injunction restraining the Arkansas RR. Commission from imposing the penalties prescribed by the Barker Demurrage Law passed by the last Arkansas Legislature, for alleged failure to furnish coal cars to the Denning and Coal Hill mines, as demanded by independent shippers. In Texas, Attorney-General Davidson instituted suit against the American Book Co. of ·New Jersey and the American Book Co. of New York RETROSPECT. 25 to obtain judgments of ouster from the State and collect $8,000,000 was exported during June . The Bank of France penalties aggregating over $3,000,000 for violation of the reported the largest gold holdings on record, but nevertheless kept bidding for the gold arrivals in London; as open anti-trust laws of the State. Railroad Events and Stock Exchange Matters .-Business on market discounts were higher at Paris than at London, it the Stock Exchange dwindled to small proportions. A succeeded in getting most of these gold arrivals. The Bank sharp rally at the very beginning of the month carried of Germany reported the largest gold holdings in recent. prices of practically all the active issues up from 3 to 7 years and on June 18 reduced its rate from 4½ to 4%. points, but this movement culminated on the 2nd day of the Prices for bankers' sterling were generally at the highest. month. A sharp decline then ensued, influenced by the cut figure of the month on June 1, when quotations were 4 8560 in steel prices, and thereafter the market became very @4 8565 for 60-day bills; 4 8715@4 8720 for sight and sluggish, with transactions on many days the smallest in 4 8740@4 8745 for cable transfers. On June 30 the prices months. After the holding of the Republican Convention, for the three classes of bills were respectively 4 8560@ some increase in activity was observable, but this was at 4 8575, 4 8690@4 8695 and 4 8715@4 8720. Open market the expense of values. Dividend reductions or suspensions discounts June 30 were 1 3-16@1¼ at London, 1 % at Paris by a number of important companies served to add to the and 3 % at Berlin and Frankfort. The price of silver in weakness. But the market soon became inert again, with London from 24¼d. June 2nd advanced to 25%d. June 23; the movement of prices sluggish, except in special stocks, but the close June 30 was only 24¾d. and the course more or less irregular. The tone at the close was, nevertheless, fairly good. Mil . .& St. P. com. JULY .-Current Events.-The National Democratic Conadvanced from 131½ June 1 to 137 % June 2, dropped to vention at Denver nominated William J. Bryan for President 130½ June 23 and closed June 30 at 133¾. And the course and John W. Kern of Indiana for Vice-President and formuof this stock reflects pretty well the course of the general lated an extremely radical platform. This action had been market. L. & N. reduced its s.-a. div. from 3 to 2½% looked for and was interpreted as having at least one faand the s.-a. div. on Lake Erie & Western pref. and that on vorable aspect, namely that it removed doubts as to the Clev. Cin. Chic. & St. L. com. were both passed. The outcome of the Presidential contest, making the electionof Mo. Pac. also omitted its semi-annual declaration, the Mr. Taft a certainty. The other important political event previous payment having been made in stock. Amer. Car of the month was Mr. Taft's speech of acceptance on July 28. & Foundry reduced its quar. div. on com. from 1% to½%, The speech proved a disappointment, as Mr. Taft declared Republic Iron & Steel suspended the quar. payment on pref. unqualified adherence to a ll of the Roosevelt doctrines and Texas Central omitted the ordinary annual div. on com. policies, and promulgated radical views throughout. It was West. Un. Tel. declared a quar. div. of ½% in cash after couched, however, in temperate language and marked by a having paid the two previous dividends of 1 ¼% in stock. judicial tone in sharp contrast with the customary utterances Chic. & Alt. RR. declared an initial div. of 1% on its com. of Mr. Roosevelt. Overshadowing these political happenstock. Wheeling & Lake Erie RR . was placed in the ings, there was one event of transcendent importance. It hands of a receiver. The property of the Brooklyn Ferry was the decision of the U. S. Circuit Court of Appeals at Co. was sold at foreclosure sale. The Erie RR. arranged Chicago July 22, setting aside the fine of $29,240,000 imwith J. P. Morgan & Co. for the purchase of the coupons posed on the Standard Oil Co. by Judge Landis in August due July 1 1908 and Jan. 1 1909 on its $35,000,000 prior of the previous year for having accepted, as alleged, conlien 4s and its $44,012,000 gen. lien 4s. The syndicate cessions froni published freight rates on sh ipments of oil over organized in Feb. 1906 to underwrite $100,000,000 4% the Chicago & Alton RR. Judge Landis was reversed on 30-year conv. bonds of the Amer. Tel. & Telegraph Co. practically every leading point, and, most important of all, was dissolved, and it was stated that close to $90,000,000 every one of the three Judges (Peter S. Grosscup, Francis E. still remained in the hands either of the primary or junior Baker and William H. Seaman) concurred in the reversal. underwriters. The syndicate organized in 1906 to under- As Judge Landis's action the previous year had played such write $7,000,000 Superior & Duluth Div. & Term. 4s of the a prominent part in unsettling confidence and in bringing Wis. Cent. expired by limitation and it was understood about the financial collapse the following October and that very few of the bonds had been sold to the public. November, so this decision overruling him had a mostsaluPittsb. Cin. Chic. & St. L. Ry. sold $6,000,000 of its 4% tary effect. The only thing to qualify the feeling of satiscons. mtge. bonds due in 1957. Kuhn, Loeb & Co. brought faction was the action of President Roosevelt with regard to out $50,000,000 of the new issue of "first lien and refunding the matter. Mr. Roosevelt issued one of his characteristic mtge. 4% bonds" due June 1 2008 of the Union Pacific RR. statements in which the Attorney-General was directed to take The issue price was 95½. The loan was heavily over- immediate steps to have the case against the oil company resubscribed. The Manhattan Ry. sold $11,712,000 cons. tried, and in which he said that there was "absolutely no mtge. 4s, mainly to retire $10,818,000 6% bonds of the question of the guilt of the defendant or of the excepMetropolitan Elev. RR. maturing July 1. A banking tionally grave character of the offense," and declared that syndicate, headed by J.P. Morgan & Co., made an offering "the President would regard it as a gross miscarriage of at 91½ of $13,000,000 4% deb. bonds due in 1934 of the justice if, through technicalities of any kind, the Standard N. Y. Cent. & Hud. Riv. RR. Balt. & Ohio sold $7,610,000 Oil Co. escaped the punishment which would have unquesof various issues of bonds. The Hudson Companies made tionably been meted out to any weaker defendant who had a new issue of $5,000,000 1-yr. 6% notes secured by $10,- been guilty of such offense." This ebullition of wrath had 000,000 of Hud. & Manh. RR. (Hudson River Tunnel) no effect beyond temporarily weakening the stock market. 4½% bonds. Another very important development was the continuation The Money Market.-There was a superabundance of of efforts to secure some advance in railroad freight rates, loanable fund s, notwithstanding that the trust companies this being considered the only alternative to a reduction of were reinforcing their cash reserves in preparation for the wages, in view of the tremendous losses in earnings which higher reserves called for by July 1 under the new State the roads were sustaining. In the Southwest, a quite genlaw. Money holdings of the Clearing-House banks ran up eral advance, effective Aug. 10, was announced, and some from $368,589,000 May 29 to $396,480 ,200 June 27, but increase in rates on sugar and on coffee from the Atla ntic dropped to $377,087 ,500 July 3 as a result of withdrawals seaboard and New Orleans to Chicago, Duluth, St. Paul , &c. by the trust companies. Surplus reserves rose from $46,- was made. In the South, advances of 2@4 cents per 100 lbs. 262,950 May 29 to $68,233,025 June 27 (this being the on flour, grain, meat and other food products from Western highest figure since 1894) and then fell to $47,585,350 points into the Southern States was scheduled to go into July 3. Deposits fluctuated more or less and were $1,318 ,- effect Aug. 1. In this case, Judge Emory Speer, in the U. . 008 ,600 July 3, against $1,289,304,200 May 29. Loans Court for the Southern District of Georgia, on July 25 isalso fluctuated from week to week, but were at their highest sued an injunction restraining the advance as far as Georgia point on July 3 at $1,245,557,000, a,gb.inst $1,218,677,900 ooints were concerned, and July 30 decided to continue the May 29. The range for call loans for the whole month was restraining order until the new rates should first be passed only 1@1¾%, with the rate June 30 1¼@ 1½% - The upon by the Inter-State Commerce Commission. Early the trust companies were out of the market the latter part of the next month, however (Aug. 5), U. S. Circuit Judge Pardee month on account of the excessively low quotations. Time of Atlanta dissolved the order of Judge Speer, thus allowing loans at the close were 2@2¼ for 60 days; 2¼@2½ for theroadstoputthehigherratesineffectin Georgia the sa me 90 days; 3@3 ¼ for 4 to 5 mos .; 3 ½ for six mos., and 4 for as in other States. The trunk lines between Chicago and the· over the year. Commercial paper then was 3½ for choice seaboard a lso discussed the question of advancing rates, but double names and short single names and.:_4½ for choice to in that instance shippers made a vigorous protest and finally good six months single names. appealed to President Roosevelt. This induced Mr. RooseForeign J xchange 1 Silver, &c.-Irregularity was the velt to i~sue an order much like that promulgated by him distinctive feature of foreign exchange during June . At the preVIous February, when there was talk of reducing first the market was lower because of specull:l,tive selling, wages. He plainly intimated that the roads would take such then it became generally strong, influenced by a demand to a step at their peril, and the Inter-State Commerce Commiscover short contracts and to remit for stock sold for European sion , at his direction, gave out a statement saying it would account and to meet maturing obligations or provide for ~va il of its P?Wers of inves~iga~ion for the purpose of keephalf-yearly settlements. The latte r part of the month the mg advances m check. Indicat10ns of better trade conditions course of prices was lower again, one feature being a good were a marked feature during July. Railroad earnings supply of bills against the placi.J;i.g abroad of a large block showed only about 15% decrease in gross, against 18½% of the new Union Pacific loan for $50,000,000. Gold in June and 22½% in May. The fortnightly return for exports continued the first three weeks, but thereafter no July 22 showed only 308,680 idle freight cars and for July further shipments were made until June 30, when $300,0_00 8 but 303,560, a gainst 349,994 June 10 and 413,605 April 29. was tak~n.. The gold all went to Germany and the ship- Th~ coppe~ trade, too, ~a.dually got into better shape, while ments, 1t 1s understood, were not conducted through ex- decidedly mcreased actiVIty was reported in the iron and change operations, but by cable order. Altogether about, steel trades. The quarterly report of the United States https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 26 RETROSPECT. Steel Corporation, issued July 28, showed for June 30 a smaller aggregate even of unfilled orders than for March 31, the comparison being 3,313,876 tons, against 3,765,343 tons; this compared with 7,603,878 tons orders on the books on June 301907. OfficialsoftheSteelCorporation,however, authorized the statement that during the first 24 days of July new orders bad been coming in at a rate to engage 72% of the capacity of the plants of the Steel Corporation, against only 50 to 55% previously. Some questions of wages were satisfactorily adjusted in the iron and steel trades. The wage scale of the sheet and tin workers was arranged for the year ending June 30 1909 by the Amer. Sheet & Tin Plate Co. (a subsidiary of the U.S. Steel Corp.), on the basis of a reduction of 2% for sheet workers and of 6% for the tin plate men. At a conference in Detroit betweeh the Western Bar Iron Association and the Amalgamated Association an agreement was reached July 11 on the wage scale for iron mills on the basis of an average reduction from 8 to 10%. The Republic Iron & Steel Co. also reached an agreement regarding wages in a number of different departments and started up some of its mills and furnaces previously idle. Cotton declined, middling uplands July 31 at New York being 10.70c., against 11.50c. June 30. Prospects for the growing grain crops became somewhat impaired, and active speculation carried prices materially higher. At Chicago Sept. wheat advanced from 85½ to 921/s; the Sept. option for corn from 70½ to 77c., and the Sept. option for oats from 391/s to 46½c., the high figures being reached generally the.latter part of the month. In financial circles an event which bad considerable influence in promoting confidence was the action of the Balt. & Ohio RR. (at the instance of Mr. Harriman it is believed) on July 9, in declaring the regular semi-annual dividend of 3% on the common stock notwithstanding that net earnings for the year ending June 30 had decreased $7 ,900,000 and notwithstanding that the 6% dividend for the year had not been earned by $1,300,000. It was decided to draw upon accumulated surplus for the deficiency. The Southern Ry. management again deferred the question of wage reduction with its employees. The brokerage firm of Cameron, Currie & Co. of Detroit went into the hands of a re,ceiver. Government revenues fell $24,870,000 below disbursements, and the deficit would have been greater by ·$ 5,879,322 except for the payment by the Central Pacific Rwy. of two semi-annual notes aggregating that sum-this tlast completely settling the indebtedness of the Central Pa·,cific to the United States. The Sec. of the Treas. on July 2 .issued a call upon the banks for the surrender by July 15 of '.$45,000,000 Government deposits, but the amount was sub1iequently reduced to $33,279,270 by Mr. Cortelyou because certain interior depositories protested against further recall. Government deposits in the banks during the month fell from $165,219,315 to $130,660,745. Cash in Sub-Treasuries increased from $339-,612,920 to $347,212,665. Bank circulation secured by bonds increased for the first time during the year, rising from $623,250,517 June 30 to $625,360,982 July 31. Justice Erlanger of the New York Supreme Court on July 2 sustained the demurrer interposed by the Consol. Gas Co. of New York to the complaint in the suit brought by State Attorney-General Jackson to oust the company from the use of the city streets on the ground that its franchises had expired. Judgment absolute was directed in favor of the company, it being held that no amendment of the complaint could cure the defect. On July 7 Mr. Jackson brought suit in the N. Y. Supreme Court to restrain the American Ice Co. from doing business in New York State on the ground of alleged violation of the Anti-Trust and Stock Corporation laws. Attorney-General Herbert S. Hadley of Missouri on July 30 instituted two suits against the so-called Yellow Pine lumber trust, one being a quo warranto proceeding brought before the Supreme Court at Jefferson City against 43 lumber concerns, asking that they be ousted and their property confiscated, and the other being brought before the St. Louis Circuit Court, in which an injunction was asked to restrain 11 corporations and 20 individuals from entering into a trust agreement in restraint of the trade in yellow pine lumber. Similar suits were filed the same day in Topeka by the Attorney-General of Kansas, and it was the intention to begin like a:ctions in Guthrie, Oklahoma and Austin, Texas; but the filing of suits in these latter States was temporarily postponed. These various actions were the outgrowth of evidence taken the previous March by the Attarneys-General of Missouri, Texas, Kansas and Oklahoma. Merchants on the Pacific Coast became greatly exercised by the announcement that the trade of the United States with the Orient and Australia and New Zealand was likely to be dealt a severe blow by the action of the trans-continental railroads in giving notice that on Nov. 1 they would be obliged to abandon a large portion of the business referred to, owing to a ruling of the Inter-State Commerce Commis.sion requiring the railroads to publish the inland proportions of their import and export rates and not to change these rates -except after stipulated notice. An Old Age Pension Bill was passed by the British Parliament, to become operative .Jan. 1 1909. French rentes enjoyed a sharp advance on the adjournment of the French Parliament without having ,enacted the Income Tax proposal, which bad been pending for several successive years , and which would have taxed .rentes. As a result of a revolutionary movement carried through by the Young Turks, Abdul Hamid II, the Sultan, was compelled to grant the Turkish people a legislative as- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis sembly and to decree a constitution for the Turkish Empire. The new Parliament met the following December. Railroad Events and Stock Exchange Matters.-The stock market showed great strength throughoutalmosttbewholeof July. The factors in this strength are indicated in the circumstances narrated above. The tone remained good even when reactions were in progress or when some special incident, like Mr. Roosevelt's cricitism of the U.S. Circuit Court of Appeals in the Standard Oil case, served temporarily to weaken prices. Towards the close the volume of business was reduced and there were recessions, induced in part by sales to realize profits. The Gould stocks were strong features the latter part on the arrangements for taking careofthe$8,000,000 Wheel. & L. E. 3-yr. 5% notes maturing Aug. 1 and on rumors that as part of these arrangements the differences between the Harriman and the Gould interests had been or would be reconciled. Mil. & St. P. com. sold at 133¼ July 2, 143½ July 23 and closed at 141¾ July 31. U. P. com. advanced from 145 July 1 to 155½ July 23, with the· close 155¼; So. Pac . com. from 86x July 3 rose to 93½ July 23 , with the close 93. Gt.Nor.soldatl37½xJuly23againstl31Julyl, and Nor. Pac.at 1421/s-xJuly23,against 136% July 1. N. Y Cent. fluctuated between 103½and ll0¼and Penn. between 1201/sand126¼. Amal.Cop.rosefrom65%Julylto77½x July 31. U.S. Steel com. displayed continued strength, rising from 37¾ July 1 to 45½ July 23 with the close 45½. Del. & Hud. sold $13,309,000 1st & ref. mtge. 4s. Cent.Pac. Ry.,asnotedabove,paidthelastofthenotesgiventheU.S. and bankers sold $18,000,000 of the company's 1st ref. mtge. 4s at 95½. Chic. So. Ry. defaulted in the int. due July 1 on $4,000,0001st mtge. 5s; the Cin. Ham. & Day. on its $2,000,000 4½s of 1907; the Cin. Ind. & West. on its $4,672,000 1st and ref. 4s and on $3,162,000 Ind. Dec. & West. 1st 5s; the Toi. Rys. & Lt. on its $4,866,000 4% cons. and on $1,250,000 Toi. & West. Ry. 1st mtge. Receivers were appointed for the Norf. & So.; also for the United Box Board & Paper Co.; and for its subsidiary, the Amer. Strawboard Co. Buff. Roch. & Pitts. declared only 2% s.-a. on com., against 2½ in Feb. Pitts. & L. E. made 5% s.-a.,against 6%. Nasbv. Chatt. & St. L. reduced from 3% s.-a. to 2½. Hunt. & Broad Top Mtn. passed on pref. Pac. Coast declared only 1 % quar. on com. and 2d pref., against 1¼% in May and 1½% previously. The N. Y. N. H. & Hart. RR. sold its $10,994,900 stock in the Bos. & Me. RR. to John L. Billard of Meriden, Conn. The Money Market.-Extreme ease continued notwithstanding the further recall of Govt. deposits and the additions to trust co. reserves. Call loans did not get above 1¾% and much of the time were down to 1 %. Time contracts were a little firmer at the close. Quotations July 31 were 2% for 60 days, 2¼@2½ for 90 days, 3¼@3½ for 4 mos., 3½ for 5 mos. and 3¾@4% for 6 mos. In the paper market one feature was the reported buying for European investors. Some 60 to 90-day double names were sold for foreign account at 3@3½ but the paper was exceptionally choice and very little could be obtained; 4 to 6 mos. high-grade single names were more plentiful and the European inquiry was in great part met by acceptable offerings at 4@4¼%. After the drop in the money holdings and surplus reserves of the ClearingHouse banks in the statement of July 3, owing to the trust co. withdrawals, both items again very rapidly increased. Money holdings rose from $377,087,500 July 3 to $399,790,900 July 25, and were $398,429,200 Aug. 1. Surp. reserves increased from $47,585,350 July 3 to $58,407,725 July 25 and were $57,263,475 Aug. 1. Deposits increased from $1,318,008,600 July 3 to $1,365,532,700 July 25 and were $1,364,662,900 Aug. 1. Loans increased from $1,245,557,000 July 3 to $1,273,551,100 July 25and were $1,273,106,400 Aug. 1. Foreign Exchange, Silver, &c.-Foreign exchange, though showing considerable irregularity, was on the whole firm the first half of the month, with the tendency of rates upwards. The latter half of the month, however, rates eased off, mainly as the result of drawings against credits which had been established at London and at Paris through the previous negotiation abroad of considerable blocks of Nat. Rys. of Mexico, Del.& Hud., &c. On the other hand, rumor had it that exchange was being gradnally accumulated to·meet N. Y .City revenue bonds negotiated in Europe the previous year and which were to mature in Nov. $300,000 gold was shipped to Germany early in July while~on July 16 $1,000,000Jgold bars were exported to Paris. Otherwise there was no outflow to Europe. Rates were at their highest about the middle of the month, when 60-day sterling was 4 8575@4 8585; sight 4 8710@4 8715 and cable transfers 4 8735@4 8740; July 31 I prices were 4 8530@4 8540, 4 8685@4 8690 and 4 8705@ 4 8715. Open market discounts stiffened at London and July 31 were 1½@1%, but on tbeContinentratesfelloffand July 31 were l¼ at Paris and 2½ at Berlin. Silver in London fluctuated irregularly, with the price July 31 24 3-16d . AUGUST.-Current Events.-The American Railway ABsocia tion reported for Aug. 5 only 281,621 idle cars and for Aug. 19 but 253,003, as against 308,680 on July 22 and 413,605 on April 29. One of the. unfavorable events was the appointment on Aug. 8 of receivers for the Pillsbury-Washburn Flour Mills Co., Ltd. In the cotton goods trade severe curtailment of production continued to be practiced, and it was a common complaint that goods were selling below cost of production. Depression was also a feature in the cotton-spinnin,g industry of Great Britain, and the Lancashire RETROSPECT. Federation of Cotton Spinners, after having severely cur- the N. Y. Supreme Court at Albany against the various antailed the output of yarn, decided on Aug. 19 to give notice thracite companies, charging them with having entered into -0f a reduction of 5% in wages. This led to a lockout the an agreement which in effect constituted a monopoly of the next month, as noted under September. At Fall River hard coal business of the State. The Federal Government there was fear at one time of possible friction with the oper- had the previous year begun a similar suit. The Inter-State atives, but mill owners accepted the proposition of the unions Commerce Commission issued an order in the case of the as represented by the Textile Council that in future in the ap- Cattle Raisers' Association of Texas against the Mo·. Kan. & plication of the sliding scale wages should rise or fall with a Tex. Ry. Co. and 58 other carriers, directing the roads to variation of 2 ½ points (instead of 5 points or 10 points) in reduce rates from one-half cent to 5 cts. per 100 lbs. on range the margin between the price of a cut of standard cotton cattle in the Southwest, and also directed a reduction in doth and its equivalent in weight of raw cotton. Print the terminal charge at Chicago from $2 per car to $1. The doths were reduced Aug. 24 from 3¼ to 3½ cts. and Aug. law passed by Congress granting compensation to artisans 25 to 3 cts. An unsettling feature as the month progressed · and laborers for injuries sustained in the service of the United was a sharp break in the price of cotton. A speculative States went into effect Aug. 1. Attorney-General Bonaparte ,clique headed by Jesse L. Livermore, a daring young opera- at Washington gave an opinion holding that national banks tor, had b.een conducting a campaign for higher prices in in Oklahoma could not legally take part in the scheme for the October option and came to grief. Early in themonth guaranteeing bank deposits enacted by the Oklahoma this option was advanced fully a half a cent, getting up Legislature. The Brazilia,n Congress granted permission to Aug. 7 to 9.85 cts. Then a severe slump occurred, and by the State of Sao Paulo, as part of the coffee valorization Aug. 21 the price was down to 8.51 cts. On Aug. 31 a still scheme, to raise a loan of £15,000,000 to consolidate existlower point was reached, namely, 8.43 cts., with the close, ing issues of bonds,and also gave authorityto raise the surhowever, 8.55 cts. Spot cotton at New York advanced tax on coffee exported from 3 francs to 5 francs gold per bag from 10.60 cts. Aug. 1 to 10.85 cts. Aug. 6, but closed Aug. of 60 kilos (132 lbs.). The higher tax went into effect in 31 at only 9.50 cts. The latter part of the month heavy Oct. 1908. Purchases of coffee under the valorization rains, long-continued, resulted in extensive floods in a num- scheme had been previously discontinued. The coal ber of sections in Georgia and the Carolinas-Augusta, Ga., miners' strike in Alabama, begun on July 6, and which particularly suffering quite severely, the water in some of had been marked by much violence, including the firing by the streets of the city reaching a depth of 4 ft. and the prop- the strikers upon a train carrying non-union men, resulting -erty loss being estimated at about $1,000,000. Some damage in the killing of several of them, was on Aug. 31 called off, to cotton in that part of the South resulted, without, how- the union making "an absolute, unconditional surrender." -ever, bringing any recovery in the price of the staple. In The new English patent law, under which foreign patents grain, also, some impairment of prospects occurred, without may be· revoked unless the patented article is manufactured furnishing ground for fears of crops less than the average or the patent process is operated in the United Kingdom, in size. Grain prices advanced early in the month, but went into effect Aug. 28. wheat subsequently eased off when it appeared that damage Railroad Events arid Stock Exchange Matters.-There was a in the Northwest from adverse weather conditions had been further noteworthy rise on the Stock Exchange and new high greatly exaggerated. December wheat at Chicago from records for the year were established, though the upward 92½ cts. Aug. 1 rose to 99% cts. Aug. 5, but subsequently movement experienced a setback the latter part of the got down again to 93 cts. (Aug. 17) and closed Aug. 31 at month. In the early rise, which reached very exceptional 95¼ cts . Corn and oats were at or near the highest figures proportions, the copper mining and industrial shares were at the close, the December option for corn at Chicago clos- especially prominent,and American Smelt. & Refining com. ing Aug. 31 at 67% cts., against 61¾ cts. July 31 and, (which Thomas W. Lawson had singled out for special December oats Aug. 31 49% cts., against 44 cts. July 31. mention) and Nat. Lead, com. spurted up nearly 20 points, A favorable event was the success attending an offering by but the best class of railroad properties, like So. Pac., J. P. Morgan & Co. of $17,000,000 Trans-Con tin en tal Short Un. Pac., Reading, &c., also participated in the movement. Line 1st mtg. 4s of the Atch. Top. & Santa Fe. On the The rise eventually met with determined opposition from Stock Exchange, the further rise in prices developed the interests having short contracts outstanding for large existence of a very large short interest. To resist the ad- amounts. The market had begun perceptibly to weaken vance and facilitate a covering movement, flagrant manipu- when the flagrant manipulation on Saturday Aug. 22, allation of the market on the part of this interest resulted. ready referred to, created a very uneasy feeling , which, howOn Saturday, Aug. 22, the manipulation became so bold ever, was allayed to a considerable extent by the prompt and unconcealed that the Stock Exchange authorities at action of the Stock Exchange authorities. For a few days once began an investigation. The operations of the Stock after Aug. 22 the tone was very uncertain, with some sharp Exchange house of A. 0. Brown & Co. of this city, one of declines in prices, there being fears that the effect of the the largest brokerage firms in the United States, with branch disclosures would prove very damaging to the market. offices at numerous points throughout the country, particu- The upward movement, however, was soon resumed and larly came in for criticism, and on the following Tuesday, the close found it in full swing again with new high records Aug. 25, this house announced its suspension ,after having for the year for such stocks as Union Pacific and Southern made delivery of only 277,000 shares out of a bout 750,000 Pacific. The generality of shares, however, closed well shares, supposed to have been sold by the firm on the pre- below the best figures of the month. Mil. & St. Paul com. vious Saturday. One incident growing out of the rise in sold up from 142 at the opening Aug. 1 to 147% Aug. 11 , stocks was the advertising campaign carried on by that noted then got down to 140¼x Aug. 20 and closed Aug. 31 at 144½; Boston speculator, Thomas W. Lawson. He gave his ad- Gt. Nor., from 137 ¼ Aug.1 rose to 140 Aug. 13, dropped to vertisements the usual air of mystery, but finally ended his 135 Aug. 20 and closed Aug. 31 at 137¾; N. Y. Cent. from campaign in the recommendation to everyone to buy the 110¼ Aug. 10 sold down to 100 Aug. 20 and closed at stock of the Bay State Gas Co., just taken out of receiver's 106¼; So. Pac. com. and Un. Pac. com. both touched their hands, and of which he had a short time before been elected highest Aug. 31, So. Pac. having sold up from 92½ to President. He called it "National" stock. This company 107% and Un. Pac. from 154½ to 164¾; Amer. Smelt. had an authorized capital of $1,000,000,000 (20,000,000 & Refining com. was 88% Aug. 3 and 107 Aug. 7, with the shares of $50 each), and had at that time apparently $184,- close Aug. 31 98¾; Nat. Lead com. was 72½ Aug. 1, 92 587 ,500 stock outstanding. He in effect announced that Aug. 7 and closed at 86¼; Amal. Cop. advanced from 78¼ it would henceforth devote itself to speculations in the stock Aug. 1 to 831/s Aug. 8, got down to 74¾ Aug. 15 and closed market. New stock was to be issued at gradually rising at 81 ½; Steel com. from 45¼ Aug. 1, moved up to 48 prices , and the proceeds used in aggressive operations in Aug. 10, receded to 44 Aug. 15 and closed at 47¼. Among the stock ma rket "with and against" what he termed "the the specialties Con. Gas of New York, which had been adsystem." At a special meeting of the stockholders of the vancing for many months, touched a new high mark at 147% Bay State Gas Co., President Lawson was authorized in his Aug. 31; in January it had sold at 96 and in Oct. 1907 as discretion to dispose of $14,350,000 additional stock, and low as 74. The Mex. Cent. syndicate , which in June 1906 the directors were instructed to make further issues should ha,d bought $33,000,000 5¾ col. tr. notes of that company Mr. Lawson at any time deem it convenient or necessary. disposed of the unsold balance, approximately $15,000,000, The stock sold up from 54 cents per share Aug. 1 to $2 per to a coterie of local investors. The Grand Trunk Ry. of Can. share Aug.21, and closed Aug. 31 at $1%. Meadows , Will- omitted the usual interim div. on 1st and 2d pref. Cent. iams &Co.,a brokeragehouseof Buffalo, N. Y., with a mem- of Ga. passed the div. on all the three classes of incomes. bership in the N. Y. Stock Exchange, suspended. The The Penn. Coal & Coke Co. was placed in the hands of a Mechanics' & Traders' Bank of this city, which had suspended receiver, owing to the failure of the Penn. Beech Creek & the previous January, resumed Aug. 17 as a purely Brooklyn Eastern Coal Co., the lessee of the property, to meet its institution under the name of the Union Bank of Brooklyn. rental obligations. The two Walsh roads, namely the Besides giving up its Manhattan offices, it discontinued two South. Ind. and the Chic. South., were placed in the hands of its Brooklyn branches. National bank circulation secured of a receiver. by bonds increased from $625,360,982 July 31 to $625,986,The Money M arket.-Call loans on the Stock Exchange 993 Aug. 31. Govern men~ deposits in the banks were re- several times got down to ¾ of 1 %, and at no time ruled duced from $130,660,745 to $128,907,343, and Treasury higher than 1 ¼%. Time loans were more liberally offered, money holdings fell off from $347,212,665 to $320,899,584. and the money withdrawn from abroad, through the recall Judge Richard L. Hand, appointed Commissioner by Gov. of credits and balances, as noted below under exchange, Hughes to examine into the charges of neglect and wrong- came in competition with domestic supplies. Trust comdoing made against the District Attorney of New York panies were reported to be large purchasers of commercial County, William Travers Jerome, submitted his report with paper for investment. The supply of the best nam~s was the finding that not one of the charges against Mr. Jerome was limited and rates for paper fell to low figures. Time loans proved, but that all were disproved upon the evidence. V. 87, at the close were 2% for 60 days; 2 ½ for 90 days; 3 for 4 mos. p. 509. State Attorney-General Jackson began proceedings in and 3¼@3½ for 5 to 6 mos. Paper was quoted at 3¾@4 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis • / 28 • RETROSPECT. for choice double names and 4 ¼ @4 ½ for prime and 4 ½@ 5 for good single names. Money holdings of the ClearingHouse banks rose from $398,429,200 Aug. 1 to $412,523,100 Aug. 22 and were $410,948,300 Aug. 29; surplus reserves increased from $57,263,475 Aug. 1 to $65,170,050 Aug. 22 and were $61,741,650 Aug. 29. Deposits were $1,396,826,600 Aug. 29, against $1,364,662,900 Aug. 1 and loans $1,294,766,100, against $1,273,106,400. Foreign Exchange, Silver, &c.-Exchange was heavy almost the whole of August and sterling bills sharply declined. The weakness was in part occasioned by the gradual recall from Europe, through sight sterling and cable transfers, of bankers' balances and credits representing the proceeds of securities negotiated abroad within preceding months. It was estimated that an aggregate of $30,000,000 was available in this way at the time, representing the proceeds of National Rys. of Mexico, Penn. RR. and other securities placed abroad, and which had been temporarily loaned out in London, Paris and elsewhere on the Continent. There was also some pressure of commodity bills against exports of wheat and offerings of drafts against future deliveries of cotton. Rates were at their highest Aug. 1 when 60-day bills were 4 8525@4 8535, sight bills 4 8685@4 8690 and cable transfers 4 8705@4 8715 and at their lowest on Aug. 25, at 4 8410@4 8425, 4 8570@4 8575 and 4 8585@4 8595. The close Aug. 31 showed only a trifling recovery. In the Bank of England £1,000,000 gold which had been held for India account, was "unearmarked". It developed that Germany had for some time been taking gold from Australia. Open market discounts at the European centres were 1 7-16 @l 9-16 at London Aug. 31 and 1¼ at Paris, and 2¾ at Berlin and Frankfort. Silver in London suffered a further decline and closed Aug. 31 at 23 %d. SEPTEMBER.-Current Events.-The political situation became disquieting. This was mainly by reason of the action of PFes. Roosevelt in taking an active part in the Presidential campaign on behalf of Mr. Taft. At first interest focused chiefly on the Sept. State elections in Vermont and Maine. The Vermont election occurred Sept. 1 and proved ·entirely satisfactory. As it is a tradition that when the plurality for the Republican candidate for Governor in that State exceeds 25,000, the Republican party is certain of victory in the national campaign, and as the actual plurality was 29,000, the result foreshadowed Mr. Taft's victory. The Maine showing, however, was different. The election occurred Sept. 14 and resulted in a plurality for the Republican ticket of only 7,700, stated to be, with one exception, the smallest plurality in a Presidential year since the Civil War. The vote, however, happened to be based on the liquor prohibition issue. As the Presidential election had been proceeding in an apathetic manner, Mr. Roosevelt on his return to Washington after his summer vacation at Sagamore Hill announced his determination to infuse some "ginger" into it. The opportu.nity had come a few days before and Mr. Roosevelt was quick to avail of it. Mr. William R. Hearst in championing the cause of the candidate of the Independence Party, sought to make it appear that the two old political parties both had affiliations with the so-called trusts or large corporations, and that those who would destroy these trusts must support the Independence ticket. He accordingly published some correspondence alleged to have passed between John D. Archbold of the Standard Oil Co. and Sen. J.B. Foraker of Ohio several years ago, and also made the allegation ·that Gov. C. N. Haskell of Oklahoma, Treasurer of the Democratic National Committee, was a tool and agent of the Standard Oil Co.,and had been connected with an attempt to bribe or influence AttorneyGeneral Monnett of Ohio to dismiss suits pending several years before against the Standard Co. Mr. Roosevelt, accepting the Hearst charges as true, gave out a statement say ing that Mr. Haskell and Sen. Foraker represented the influences which had been arrayed against his policies and his Administration and contended that Mr. Foraker had been repudiated by the Republican Party, while Gov. Haskell still retained the confidence of the Democratic Party and the support of Mr. Bryan. Mr. Bryan asked for proof to show that Mr. Haskell had been connected with the Standard Oil matter in Ohio, and in this way the controversy continued, each trying to make it appear that the opposing candidate could not be trusted to carry out radical policies. Business interests naturally viewed the prospect with alarm. In the end Mr. Haskell resigned his post as Treasurer. An incidental development was that Gen. T. Coleman du Pont of Delaware tendered his resignation as head of the Speakers' Bureau and also as member of the executive committee for the East of the Republican National Committee. Gen. du Pont was interested in the so-called Powder Trust, against which the Federal Govt. had a suit pending, and it was understood that Mr. Roosevelt had insisted on his resignation. Trade appeared to be slowly mending. The Amer. Ry. Assn. reported a decline in idle freight cars from 253,003 Aug. 19 to 222,632 Sept. 2, to 173,587 Sept. 16 and to 133,792 Sept. 30 The cotton mills in Lancashire, Eng., were shut down, owing to the failure of the operatives to agree to the 5% reduction in wages determined upon by the spinners the previous month. The cut was not to go into effect until Jan.1 1909, but the manufacturers wanted the operatives to indicate agreement in advance, and when this was not forthcoming locked out the workers. The stoppage affected about 200,000 hands and some 40,000,000 spindles. Middling upland cotton in N. Y. closed Sept.30 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis at 9.30c., after having been 9.60c. Sept. 17. Print cloths at Fall River remained at 3c. A circumstance of a highly encouraging nature was the decision Sept. 10 of the U.S. Court of Appeals for the Eastern District of Pennsylvania ( composed of Judge George Gray of Delaware and Judges GeorgeM. Dallas and Joseph Buffington) declaring unconstitutional what is known as the "Commodity Clause" of the Hepburn Rate Law of 1906. Wheat prices further advanced sharply. The Govt. crop report showed a further impairment in spring· wheat, continued dry weather over much of the winter-wheat area delayed planting operations of fall-sown wheat, and there was an urgent demand for cash wheat by millers in theNorthwest. The movement of spring wheat to market, apparently induced by the high prices, reached record-breaking proportions, but this had little effect in satisfying the demand. Rains in the winter-wheat belt the latter part of themonth caused some reaction in prices at the close. Dec. wheat at Chicago from 95¼c. Sept. 1 rose to $1.02% Sept. 21 and closed Sept. 30 at 99¾c. Dec. corn at Chicago, after getting up to 70%c. Sept. 11, sharply declined on hot forcing weather over the corn belt, placing most of the corn crop beyond danger from frost, and closed Sept. 30 at 65%c. Bank circulation secured by bonds increased from $625,986,993 to $626,972,885. Govt. deposits in the banks increased from $128,907,343 to $129,925,200. Treasury money holdings were reduced from $320,899,584 to $310,001,850; this reduction apparentlyfollowedlargelyfrom the redemption of bank notes out of deposits of legal tenders made in previous months, theRedemption Bureau having for many months been much in arrears in its work; for Sept. 30 the total of bank notes still afloat against which deposits of legal tenders had been madefor retirement was only $48,639,442, comparing with $59,339,115 Aug. 31, $66,728,009 July 31, $75,083,400 June 30 and $46,670,996 Jan. 1. Forest fires, as a result of long-continued drought, were a feature of this and the previous month. These fires were noted nearly everywhere in the northern part of the U. S.-in Michigan, in the Adirondacks and in theWhite Mountains. In the Adirondacks, when the situation had become seriously threatening, the drought was broken on Monday, Sept. 28, by heavy rain, and there was likewise somerain in other parts of the country. These rains, however, were not prolonged and dry weather continued over large areas for some weeks subsequently. In Europe there was some revival of political unrest wth reference to the Algeciras controversy growing out of Germany's suggestion of the immediate recognition of Mulai Hafid, the new Sultan of Morocco, who had overthrown the old Sultan. France and the other signatory Powers insisted that Mulai Hafid must first give assurances that he would carry out the obligations of Morocco. Eventually the matter was settled on that basis. As a result of the satisfactory progress of the monsoon, the India Council for ~he first time in many months was able to sell the whole amount of its Council bills and transfers, removing the necessity of the further sale of English consols from among its investments, which sales had served to weaken the market for consols. No recovery, however, oc curred, consols being quoted at the lowest figure since the previous Jan. The Trust Co. of America of this city at the beginning of the month made the final payment on the $25,000,000 loan which it had obtained from the Associated Trust Cos. at the time of the unprecedented run on it the previous autumn. Two Pittsburgh financial institutions were closed, namely the Cosmopolitan Nat. Bank and the Mt. Washington Sav. & Trust Co., and some sensational incidents attended the closing; the latter, however, was subsequently reopened and paid off its depositors. As a result of the investigation by the special committee appointed the previous month by the Board of Governors of the N. Y. Stock Exchange, Albert 0. Brown and Lewis G. Young, the Board members of the failed firm of A. 0. Brown & Co., were expelled from the Exchange. The Cassidy Anti-Bucket-Shop Law in this State went into effect Sept. 1. In Rhode Island, also, a law prohibiting the operating of bucket shops became operative on the 1st. A portion of an issue of$14,000,000 of Republic of Santo Domingo Customs administration 5% gold bonds was offered by bankers in this city. N. Y. City placed some revenue bonds at 2@2½% int. In the U. S. Circuit Court at St.Paul, Minn., Judge Van Deventer on Sept. 3, at the instance of the St. L. Iron Mt. & So. and other roads operating in Arkansas, issued an injunction restraining the Arkansas RR. Comm. from enforcing the 2c. fare rate on the ground that the rates were unreasonable and non-compensatory. In Pennsylvania Judge Bouton of the Court of Common Pleas on Sept. 17 issued a perpetual injunction restraining the county officials from enforcing penalties against the Buff. Roch. & Pitts. Ry. under the 2c. rate law passed by the Penn. Legislature in 1907. In Massachusetts, in the case of the Fitchburg & Leominster St. Ry., the RR. Comm. declined to allow the issue of new stock at par where the shares were selling at a premium, as it might have done under a new Mass. law. For the purpose of effecting an improvement in the system of bank examinations, Comptroller of the Currency Lawrence 0. Murray called conferences at Washington of national bank examiners and the next month also called the national bank receivers together. A plan was promulgated in Oct. for the grouping of national bank examiners into districts, each district being in charge of a chairman with meetings at stated periods, which each examiner must attend, one object being the getting of information concerning doubtful credit and doubtful paper. RETROSPECT. Railroad Events and Stock}Exchange Matters .-A sharp and general break in prices occurred, owing mainly to the development of political uneasiness. The result of the Maine election and the suspension of dividends on Amer. Locomotive com. were the original provoking cause. The news of the decision of the U.S. Circuit Court declaring unconstitutional the commodity clause of the Hepburn Law came on the same day as the dividend suspension referred to, namely Thursday, Sept. 10, but, beyond strengthening for the time being the anthracite shares, had little effect on the market. As the month progressed the increasing prominence given to the radical policies which both the Presidential candidates were favoring became more and more disturbing until eventually a sort of political scare developed. After each downward movement there was usually more or less recovery. The market almost the whole month, however, remained in a highly sensitive and excited condition, and, seldom, except in times of panic, have prices fluctuated so widely or the course been so erratic. The\ latter part of the month the tone improved, leading to an upward reaction. Mil. & St. P. com. from 146 Sept. 2 got down to 127¼ Sept. 22 and closed at 133¾; Gt. Nor. dropped from 139½ Sept. 9 to 125¼ Sept. 22 and closed at 130¼; Nor. Pac. was 1461/s Sept. 9, 130¾ Sept. 24 and closed at 136¼; Un. Pac. com. declined from 168½ Sept. 9 to 1491/s Sept. 22 and closed Sept. 30 at 158¾; So. Pac. com. was 1101/s Sept. 9, dropped to 961/s Sept. 22 and closed at 103¾ Sept. 30. Consol. Gas of N. Y. reached 154½ Sept. 9, then dropped to 136 Sept. 22 and closed at 147 Sept. 30. U. S. Steel com. was 48½ Sept. 8, then sold at 41 ½x Sept. 22 and closed at 45 ¾. The Copper shares were weak and Amal. Cop. fell away from 811/s Sept. 1 to 68½ Sept. 22, but closed at 75 Sept. 30. Amer. Smelt. & Refin. com. fell from 99 ¼ Sept. 2 to 79 Sept. 22 and closed at 84¾; Erie com. was one of the strong features, and after selling up from 23¾ Sept. 1 to 31 ¼ Sept. 10 closed Sept. 30 at 30. Boston & Maine reduced div. on com. stoc from 1 ¾% quar. to I½%- Ry. Steel Spring Co. reduced on com. from 4% per annum to 2%. A. Booth & Co., Chicago, suspended on both com. and pref. and later passed into the hands of a receiver. The Amer. Agri. Chem. Co. sold $8,000,000 of its 1st mtge. 5% conv. bonds. The Money M arket.-Money in Sept. ruled slightly firmer. There was, however, a superabundance of loanable funds. The customary movement of currency to the West was noted, but it was more moderate than usual. Call loans on one occasion (the 10th) reached 2 ½%- Sept. 30 the range was 1 ½@2%. Time loans at the close were 2 ½ for 60 days; 2¾@3 for 90 days, 3½ for 4 mos. and 3½@3¾ for 5 to 6 mos. Failures of Western houses involving some relatively large losses to banks holding paper, particularly A. Booth & Co., Chicago, made buyers of mercantile notes conservative, and the inquiry was confined to choice names. Choice double names for 60 to 90 days at the close were quoted at 4@4 ½ and prime 4 to 6 months' single names were 4½@5. Money holdings of the Clearing-House banks were reduced from $409,037,600 Sept. 5 to $386,719,400 Oct. 3 and surplus reserves fell from $56,741,375 to $38,889,300. Deposits rose from $1,409,184,900 Sept. 5 to $1,422,868,700 Sept. 12 and then decreased to $1,391,320,400 Oct. 3. Loans were $1,308,029,300 Sept. 5, $1,326,280,600 Sept. 12 and $1,311,329,000 Oct. 3. Foreign Exchange, Silver, &c.-The course of foreign exchange was completely reversed. Rates moved up sharply, and where previously there had been talk of early gold imports, there seemed now some likelihood of gold exports. Political unrest in Europe, caused by Germany's attitude on the Moroccan question, had not a little to do with the rise, inasmuch as it led to extensive selling here of securities for foreign account, though the break in the stock market may also have induced selling. At the close commodity bills against grain and cotton appeared to be in good supply, and this, with the elimination of the short interest, led to a recession in rates. The high points were on the 16th or 17th, when 60 days' sterling was 4 8525@4 8535; sight 4 8670@ 4 8680 and cable transfers 4 8705@4 8710. Sept. 30 quotations were 4 8485@4 8490, 4 8625@4 8635 and 4 8660@ 4 8665. Open market discounts were higher at all the European financial centers, when fears developed regarding renewed tension concerning Morocco, but subseq uently eased off again. At London the rate at one time was 11/s@ l¾, but Sept. 30 it was 1¼@1 1/s . At Paris the rate advanced to 2 1-16 and closed at 2% . At Berlin and Frankfort there was a rise to 3 ½@3 %, with the close 3 ¼ - Silver in London kept very close to the lowest figures and Sept. 30 was 23 ½OCTOBER.-Current Events.-Unexpected troubles developed in the Balkan regions of Europe. On Monday, Oct. 5, the startling news was received that Bulgaria ha d declared its independence of Turkey and that Prince F erdinand had been proclaimed Czar of the Bulgarians. Next it appeared that Austria had determined upon the annex ation of Bosnia and Herzegovina , whose affairs it had been administering under the Berlin Treaty of 1878, but which nominally were Turkish principalities. Shortly afterward the Island of Crete, also a Turkish Treaty dependency, declared its independence of Turkey and asked for union with Greece. Thesituation was rendered still more dangerous by the fact that the other Turkish principalities, in particular Servia and Montenegro, regarded their interests as being jeopardized, and threatened to take up arms against Austria and Bulgaria. The critical https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis · 29 state prevailing was reflected in a decline in English con.sols and.French rentes and a precipitate fall in Turkish , Russian, Servian and Bulgarian securities, while all the European bourses became more or less disturbed. Large sales of American securities for European account were made here and in London. The strenuous efforts exerted by the English and the French governments prevented an outbreak of hostilities. The hands of the Turkish Govt. were in a measure tied by the fact that the revolution the previous July by the Young Turks had shorn the Sultan of his power, and the Turkish Legislature was not to convene until Dec. The attitude of the German Govt. remained more or less of a mystery throughout. In the U. S. the tone in trade and financial affairs steadily improved, on the idea that Mr. Taft's election was a foregone conclusion and that this was distinctly in the intere ts of the general welfare. The number of idle freight cars kept diminishing, being reported 133,792 for Sept. 30, 115,036 for Oct.14 and 110,912 for Oct. 28. The return of the U.S. Steel Corp. for the Sept. quarter, made public Oct. 27, revealed decidedly better earnings than for either of the two preceding quarters and also a slightly larger aggregate of unfilled orders for Sept. 30 than for June 30. In the copper trade a noteworthy revival of activity occurred. In the dry goods trade, likewise, gradual improvement was noted, and print cloths moved up from 3c. to 3 ½c. The large movement of the new crop militated against any very great rise in the price of cotton. Still, middling uplands in this market, after having declined from 9.30c. Sept. 30 to 9c. Oct. 9, subsequently advanced to 9.45c. Oct. 28, with the close Oct. 31 9.35c. The Bulgarian situation caused a renewed advance in wheat and the Dec. option at Chicago on Oct. 12 got up again to $1 02¼; as the prospect of war diminished, the price eased off and Oct. 20 was only 97 ¾c., but on reports of serious damage to the Argentine wheat crop by frost the price stiffened once more, the close Oct. 31 being at $1. Dec. corn at Chicago closed at 63¼c., against 651/gc.Sept. 30. One of the last remnants of the panic of 1907 was r emoved in the formal dissolution of the Committee of Trust Cos. of N.Y. City, which at the time of the panic contributed about $30,000,000 for the relief of Pmbarrassed companies. Govt. deposits in the banks increased from $129,925,200 to $131,693,493 and Treasury money holdings were reduced from $310,001,850 to $290,464,703. Bank circulation secured by bonds stood at 626,778,555 Oct. 31, against $626,972,885 Sept. 30. There was a joint offering in this country and in Europe of $20,000,000 (out of a total issue of $25,000,000) of 35-year 4½% s. f. gold bonds of the "Institution for Encouragement of Irrigation Works and Development of Agriculture S. A." guar. by the Mexican Govt. The loan was over-subscribed. At the Canadian elections which turned largely on the question of sustaining the policy of the Govt. in furthering the construction of the Grand Trunk Pac. Ry. and other Canadian trans-continental railway enterprises by Govt. aid on an enormous scale, the Liberal party and the Premier, Sir Wilfrid Laurier, achieved a sweeping victory, insuring a continuation of the development of the vast unsettled area of the Dominion. The Comptroller of the Currency, with the view to enforcing greater responsibility upon the directors of national banks, framed a series of 29 questions which bank examiners are to put to the directors hereafter in making examinations, and ordered that the directors be immediately convened by the examiner when entering upon his work. A receiver was appointed for the banking house of E. H. Gay & Co. of Boston in an involuntary petition in bankruptcy. At a referendum vote the electors of Cleveland refused to confirm the franchise which Mayor Tom L. Johnson and the City Council had granted the Municipal Trac. Co. to enable it to operate all the trolley lines in Cleveland. This caused chaos in street railway matters in that city and the next month receivers were appointed for the Municipal Co. At Gulfport, Miss., Judge Wood in the Chancery Court on Oct. 6 in the case of the L. & . RR. held unconstitutional the Mississippi law penalizing carriers for removing to the Federal Courts suits originating in the State Courts. The strike of the mechanics of the Can. Pac. Ry., begun Aug. 4, was reported to have collapsed early in October. Railroad Events and Stock Exchange Matters .-The stock market displayed strength throughout October on improving uade conditions and on the belief that Mr. Taft would be elect ed President. The copper shares were strong on the rise in the price of the metal and the steel shares on the gradu J reviva l of activity in the iron and steel trade. An encoura$sing feature was that the railroads showed diminishing ratios of decrease in gross earnings, while net earnings in not a few instances recorded substantial gains b ecause of savings in expenses. The disturbances in the Balkans were an untoward development the early part of · the month. Considerable selling of American securities for foreign account occurred, occasioning for the moment a decided weakening of prices on our Stock Exchange. After a few days, however, the market again recovered, and the la tter part of the month a number of leading stocks sold at the highest figures of the year up to that time, among others the Atchison shares, the Union Pacific shares and Steel com. Atch. com. sold up from 86½ Oct. 9 to 93¾ Oct. 30 and closed Oct. 31 at 93. Mil. & St. P. com. advanced from 132½ Oct. 9 to 144¼ Oct. 27 and closed at 142¼;Un.Pac. com.rosefrom 158½Oct.ltol73½ Oct.30, closing at 171 ½, and So. Pac. com. rose from 100 Oct. 9 to 109½ Oct. 30 , with the close 107%; Nor. Pac. com. was I 30 RETROSPECT. 135½ Oct. 1, 146¼x Oct. 30 and closed at 144½; Gt. Nor . .com. was 129½ Oct. 1, 134½ Oct. 5 and closed at 132¼; Penn. rose from 121 ½ Oct. 1 to 127 ¼ Oct. 30, closing 126%; Amal. Cop. sold up from 72 Oct. 9 to 80½ Oct. 27 with the close 79¼, while Steel com. moved up from 45 Oct. 5 to 48¾ Oct. 28, with the close 47 ½; Third Ave. stock was one of the weak features, dropping from 40% Oct. 7 to 27 Oct. 23. Int. Paper Co., which in April had reduced the quar. div. on pref. from 1 ½ to 1 % , made a further reduction to only ½%. Chic. R. I. & Pac. Ry. concluded negotiations with bankers for the sale of $9,000,000 first and ref. mtg. 4s. New York City banking houses placed $14,000,000 Southern Pac. RR. 1st ref. mtg. 4s. St. Louis .& San Francisco RR. financed its $7,100,000 notes maturing Dec. 1. An offering of $8,000,000 1st mtg. 5% conv. bonds -of the Amer. Agr. Chem. Co. was made. The Va.-Car. Chem. Co. sold $12,000,000 of 15-yr. 5% debentures. The Money Market.-Notwithstanding the Balkan disturbances, no spurt occurred in money, and call loans on the .Stock Exchange at no time got above 2%, with the range the last business day 1 ½@2%. Time loans at the close were 2 ¾ @3% for 60 and 3 for 90 days; 3 ¼ for 4 and 3 ½@ 3¾ for 5 to 6 mos. Commercial paper was then 4 for choice '60 to 90 days double names and 4@4 ½ for prime 4 to 6 months single names. Loans of the Clearing-House banks between Oct. 3 and Oct. 17 increased from $1,311,329,000 to '$ 1,342,975,300, but by Oct. 31 were down again to $1,328,436,000. Deposits increased from $1,391,320,400 Oct. 3 to $1,423,151,600 Oct. 17, then declined to $1,404,706,100 Oct. 31. Money holdings were reduced from $386,719,400 Oct. 3 to $383,768,800 Oct. 10, increased to $388,056,700 Oct. 24 and were $384,675,500 Oct. 31. Surplus reserves fell from $38,889,300 Oct. 3 to $31,576,850 Oct. 10, and then increased to $33,498,975 Oct. 31. The money holdings of the State banks and trust companies not in the Clearing House increased from $99,270,000 Oct. 3 to $102,889,400 Oct. 31 and the loans of these institutions increased from $958,208,400 to $976,105,400. Foreign Exchange, Silver, &c.-The unfavorable developments abroad caused a sharp advance in exchange early in October. These events led to liberal selling of securities for European account, creating a demand for exchange, besides which, owing to the uncertainty as to the possible outcome, bankers were indisposed to draw freely, thus diminishing the supply of bills. Offerings of grain and ,cotton drafts, while liberal in amount, did not serve altogether to check the advancing tendency. Very possibly also there were some further purchases of exchange to complete the requirements of New York City in connection with the payment in November of $25,000,000 New York City <revenue bonds held abroad. French cable transfers advanced to the gold-export point and sight franc drafts later also did, leading to rumors of probable exports of the metal to Paris. Offerings of exchange, however, against an installment of. bonds of the Nat. Rys. of Mexico placed in Paris earlier in the year checked the upward tendency. On re-buying of securities previously sold on European account and on indications that friction regarding Balkan affairs was diminishing, exchange weakened and on Oct. 31 sterling bills were at or near the lowest figures of the month. The high point was Oct. 9, when 60-day bills reached 4 8510@4 8535, .sight 4 8675@~ 8685 and cable transfers 4 87@4 8710; Oct. 31 prices were 4 84@4 8405, 4 8610@4 8615 and 4 8640@4 8645. Open market discounts in London rose .sharply, owing to the unsettled feeling, particularly as there was a demand for gold for Egypt and other countries. Rates Oct. 30 were 2¼@2¾%, At Paris there was an advance to 2 ½@2 ¼, but at the German centres discounts were lower at the close at 2 ¾@2 ½%. Silver in London fell to 23 1-16d. Oct. 30 and was 23,¼d. Oct. 31. NOVEMBER.-Current Events.-Expectations were realized and Mr. Taft was elected President by a very decisive majority, he carrying States having 327 electoral votes against only 156 by Mr. Bryan. The effect was to bring about great buoyancy on the Stock Exchange and to still further stimulate trade revival, which had been making slow headway before the election on the firm belief that Mr. Bryan would be defeated. A short speech made by Mr. Taft before the Commercial Club at Cincinnati two days after the election greatly strengthened the growing feeling of confidence. In this he gave assurance that enterprises "within the statutes" might proceed without fear of being molested, and stated that legitimate business would not be prevented from enjoying fair profits. There were also, however, other favoring developments. On Nov. 6 the great lockout of cotton operatives at Lancashire was settled, the employers having agreed to defer until the first pay-day in March the 5% reduction in wages. Furthermore, on Nov. 19 the Fall River Cotton Manufacturers' Association decided to continue through the next six months the existing schedule of wages, instead of making a further reduction as they would have been entitled to do under the sliding scale. There was a large influx of buying orders in the dry goods trade. Print cloths at Fall River were first marked up from 3½ to 3¼ cts. and then to 3%, Middling upland cotton at New York closed Nov. 30 the same as Oct. 31, namely 9.35 cts.; the range for the month was 9.25 cts. to 9.55 cts. The -0opper market became somewhat excited and Lake copper from 13½ cts. in October got up to 14% by Nov. 10, with https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis the close 14¾@14½ cts. Some noteworthy disturbing incidents occurred in Europe without, however, exercising any great influence here. Early in the month there was a revival of friction between France and Germany in connection with Casablanca affairs, but this was soon smoothed over, as it involved merely the question how far the German Government had the right to extend its protection over Germans who had enlisted in the foreign legion of the French army and deserted. A seriously unsettling situation, however, followed as the result of the publication in the London "Daily Telegraph," at the close of the previous month, of a remarkable interview alleged to have occurred between Emperor William of Germany and a retired British statesman, supposed to be Lord Rosebery. This interview was full of indiscreet references and utterances. In it the Kaiser resented as a "personal insult" the intimation of hostility on his part towards England, declaring that he entertained the most friendly feelings for England. He also said, however, that in this he was in a minority in his own country, as the sentiment of large sections of the middle and lower classes in Germany was antagonistic to England. At the time of the South African War, the German Government, he stated, had been invited by France and Russia to join in compelling England to end the war, but that he had refused. He furthermore stated that he had worked out a plan of campaign for ending the Boer War and had dispatched it to Queen Victoria. This interview failed to placate English public sentiment. Indeed, the British people looked upon it as an attempt to disturb the accord which had developed between Russia, France and Great Britain by recalling incicents which had happened many years before,' when these countries were still at cross purposes. In Germany the results were equally unfortunate for the Emperor. When the Reichstag met, a storm of protests against his course arose. Eventually Chancellor von Buelow was forced to ask the Emperor to endorse a statement to the effect tliat hereafter his aim would be "to insure the stability of the policies of the German Empire under the guardianship of constitutional responsibilities." The Emperor yielded with apparent good grace. The Emperor had also given an interview to an American journalist the previous July, and this was to have appeared in the "Century Magazine" for December. The German Foreign Office succeeded in having that interview suppressed. To meet deficiencies in revenues, a new scheme of taxation was laid before the Reichstag, providing among other things for taxes on newspaper advertisements and upon gas and electricity used in household service. Another important event was the announcement on Sunday, Nov. 15, of the death of the Dowager Empress of China, Tsi-An, and the death the day before of the young Chinese Emperor, Kwang-Hsu. An edict placed upon the throne Prince Pu-Yi, the 3-year-old son of Prince Chun, who became Regent of the Empire. The $13,936,500 3% U. S. Treasury certfs. of indebtedness issued during the panic of 1907 were redeemed Nov. 20, and as these had all been held as security for bank notes, the aggregate of notes secured by bonds diminished during the month from $626,779,350 to $614,907,265, while the deposits of legal tenders for notes in process of retirement rose from $39,065,637 to $52,270,912. On Nov. 18 Sec. Cortelyou invited proposals until Dec. 5 for $30,000,000 2% Panama Canal bonds. On Nov. 25 he asked for the surrender on Nov. 30 by the 800 national bank depositories throughout the country of $5,000 each of their deposits of public funds, involving altogether $4,000,000. Government deposits diminished from $131,693,493 to $130,111,806. Government revenues continued much below Government disbursements, and cash in Sub-Treasuries declined from $290,464,703 to $281,981,409. Wheat further advanced, notwithstanding more favorable accounti, regarding the Argentine crop. The latter part of the month, on reports of the breaking of the drought in the Southwest, a slight downward reaction occurred. December wheat at Chicago ranged between 99¾ Nov. 5 and 1041/s Nov. 21, and closed Nov. 30 at 103½@1/s. New York City was very successful in a sale of $12,500,000 4% bonds, this being the first public offering of 4s since the resort to 4 ½ % issues the previous year. The bids aggregated $148,266 ,360 and the long-term bonds went on an interest basis of 3.89%. There were several important court decisions. On ov. 7 the U. S. Circuit Court of Appeals for the Southern District of New York, in the suit of the U. S. Government, held the American Tobacco Co. an illegal combination in restraint of trade under the Anti-Trust Law of 1890. This decision went further than any previous Court ruling, the majority opinion, written by Judge Lacombe, saying that under the Anti-Trust Law it would be illegal even for two individuals engaged in inter-State trade to enter into a partnership, since they thereby restrained competition which might otherwise exist between them. The U. S. Circuit Court of Appeals for the Seventh Circuit, sitting at Chicago, denied the application of Attorney-General Bonaparte for a rehearing in its ruling setting aside the $29,240,000 fine imposed by Judge Landis against the Standard Oil Co. The Government later in the month applied to the U.S. Supreme Court for a writ of certiorari. The same Court of Appeals granted an interlocutory injunction restraining the InterState Commerce Commission from enforcing its order reducing freight rates on commodities shipped from the Atlantic seaboard to the Missouri River. The Commission's order was an attack on the long-established system of ratemaking RETROSPECT. under which Minneapolis and St. Paul, enjoying the benefit of water competition, had been getting more favorable rates than Kansas City and other Missouri River points . . Judge Grosscup, who wrote the opinion, stated that as the order disturbed commercial conditions that had grown up through a long term of years, it was proper that the Commission should be restrained until the facts could be judicially determined. On Nov. 30 the U. S. Supreme Court reversed the action of U. S. Circuit Judge Pritchard in declaring the passenger rate of 2 cents a mile, fixed by the Virginia Corporation Commission, void because confiscatory. The decision, however, was not on the merits, but on the ground that the method of procedure had been erroneous, and .that an appeal should first have been taken to t he Virginia Court of Appeals. The strike of the motormen and conductors of the Chester (Pa.) Traction Co., begun the previous April. 13, was terminated by the men on Nov. 23. The strike had been broken some time before; during its progress it had been attended by many extraordinary incidents, such as the dynamiting of cars, &c. In the trial in the U. S. District Court in this city of Charles W. Morse and Alfred H. Curtis of the failed National Bank M North America of this city, both were found guilty, and Morse was sentenced to fifteen years in prison, but in the case of Curtis sen tence was suspended, he having been regarded as a tool of Morse , and the jury having made a recommendation for mercy. Hamilton Fish resigned as U.S. Asst. Treasurer at New York and the President appointed George S. Terry in his place, but appointment was held up in the Senate. A State Clearing-House Association was formed in California, the object being to provide a thorough syst em of examinat ion into the affairs of the banks . The new Uniform Bill of Lading recommended for adoption by the Inter-State Commerce Commission went into effect Nov. 1 on 416 roads in official classification territory extending west to the Mississippi River and sou.th to the Ohio. Wit h the view to reducing the stock of legal t ender 5-franc silver pieces, the French Government and the other members of the Latin Union agreed to melt down a certain portion and to coin the metal into token money of the denominations of 50 centimes and one and two •francssee V. 87, p. 1383. There was a further decline in silver, the price in London getting down to 22 5-16d. (and the next month still lower, to 22d.). The reasons assigned were diminished consumption in the arts because of business depression and selling of the metal by China and India. At the November election Michigan adopted a new State Constitution. The French Government granted an application for the official introduction into France of bearer certificates representing 50,000 shares of the first preferred stock of the U. S. Rubber Co. The Jenkins Trust Co., one of the failed Brooklyn institutions, which had resumed in April and adopted the name of the Lafayette Trust Co., was compelled on Nov. 30 to go into liquidation. Railroad Events and Stock Exchange M alters.- With the news of Mr. Taft's election, great buoyancy developed on the Stock Exchange and continued throughout the month. All classes of share properties participated in the rise and the vast preponderating proportion of all the stocks dealt in on the Exchange reached the highest figures of the year up to that time, and Steel com. reached 58¾, the highest point in its history. The latter part of the month, with the realizing sales growing in volume, and with some adverse features, like the American Tobacco decision and the suit against the American Sugar Refining Co. to recover customs duties, recessions of larger or smaller importance occurred and there was likewise some diminution in activity; but the tone remained good. U.P. com. sold up from 172½ Nov. 2 to 184½ Nov. 27 and closed Nov. 30 184½; So. Pac. com. advanced from 107½ to 120½ and closed at 119¼; N. Y. Cent. from 105¼ to 118½, closing at 117¾; L. & N. from 108 ½ to 122¾, closing at 121; Mil. & St. P. com. from 142¾ to 151 ¾, closing at 150¾; Penn. RR. from 126 ½ to 131 ½, closing at 129½; Amal. Cop. from 79% to 88¾, closing at 84¾; Consol. Gas from 142½x (Nov.11) to 167¼, closing at 163; and Steel com. from 47½ to 58¾, closing at 55½. Nor. Pac. declared 11.26% extra out of the profits of a subsidiary company, namely the Northwestern Improvement Co. Col. & So. declared an initial div. of 2% on com, Mass. Electric Companies, after an intermission of four years; declared 1% on pref. Ill. Cent. sold to Kuhn, Loeb & Co. $20,000,000 ref. 4s, all of which were quickly re-sold, partly in Europe. Denv. & Rio Gr. sold $17,500,000 of its ref. 5s, a portion of the proceeds being used to take up $15,000,000 of coll. tr. notes taken by the same bankers some months previously. To finance its needs for 1909 and 1910, the Amer. Tel. & Tel. Co. sold to a syndicate $50,000,000 more of its 4% conv. bonds. Chicago City Ry. sold $6,000,000 more of ~its 1st mtge. rehabilitation 5s. Bankers invitetl subscriptions for $4,000,000 Philippine Ry. 4% bonds guar. as to interest by the Philippine Government, the amount being largely over-subscribed. The Money Market.-The revival of Stock Exchange speculation increased somewhat the demand for money and call loan rates on one day got as high as 3%. Time money also advanced, but the latter part of the month rates were marked down to lower figures than before. Nov. 30 quotations were 2½@2¾ for 60 days, 2¾@3 for 90 days, 3 for 4 months, 3¼ for 5 to 6 months and 3½ for 7 to 8 months. The range for call loans that day was 1 @2. Commercial paper rates were also lower, being 3 ½@4 for choice double https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 31 names and 4@4½ for the best single names. There was no demand for merely "good" paper and very little was made. Money holdings of the Clearing-House banks fell from $384,675,500 Oct. 31 to $379,330,400 Nov. 7, rose to $386,013,500 Nov. 21 and were $381,960,200 Nov. 28. Banks and trust companies outside the Clearing House kept adding to their cash holding and Nov. 28 held $105,950,600, against $102,889,400 Oct. 31. Surplus reserves of the Clearing House banks were only $23,881,125 Nov. 28, against $33,498,075 Oct. 31. Loans were reduced from $1,328,436,000 Oct. 31 to $1,318,234,700 Nov. 7 and then increased to $1,348,282,700 Nov. 28. Deposits fell from $1,404 ,706,100 Oct. 31 to $1,391,422,600 Nov. 7 and rose to $1 ,432,316,300 Nov. 28. Foreign Exchange, Silver, &c.-Foreign exchange was lower early in November and strong and higher the latter part. The early weakness was occasioned to some extent by the buying of American securities following the election. The subsequent advance was due in part to sp eculation, in part to the near maturity of option contracts for the delivery of exchange that had been sold several months b efore and in part to considerable selling of American securities induced possibly by a desire to realize profits. The advance brought exchange to the gold-export point, but no exp orts occurred until the beginning of December. The low point was Nov. 10, when 60-day bills were 4 8335 @4 8345; sight 4 8560 @4 8565 and cable transfers 4 8585 @4 8590. The high figures were Nov. 30 when prices were 4 8440 @4 8450, 4 8665@4 8.67 5 and 4 8695 @4 8705. Open market discounts at London advanced to 2½, with the close 2 ¾ @ 2 9-16; at Paris discounts Nov. 30 were 2 ½ a nd a t B erlin and Frankfort 2 ½. As noted above, silver furth er declined and Nov. 30 was 22 5-16d. DECEMBER.-Current Events .-Some furth er important court rulings, for which the year was distinguished, were handed down. In the attempt of the Inter-State Commerce Commission to compel E. H. Harriman and Otto H. Kahn to furnish answers to certain questions put to them in a general investigation of the Harriman roads, the U. S . Supreme Court held that the Commission had exceeded its powers in undertaking such an investigation of its own mo t ion, and could not compel witnesses to testify. In the Supreme Court of the District of Columbia, in the case.,of the Bucks Stove & Range Co., the executive officials of tne American Federation of Labor were sentenced to varying terms in jail for having violated an injunction of the Court forbidding the continuance of · a boycott in inter-State trade against the Stove & Range Co. Samuel Gompers, President, got a year; John Mitchell, Vice-President, nine months, and Frank Morrison, Secretary, six mo·nths. The sentences were stayed, on appeal being taken. As one effect of these sentences the Federation of Labo'r decided to discontinue, by advice of counsel, the publication in future numbers of the Federationist" of the "We don't patronize" list. In the Supreme Court of Missouri (the Court of last resort in that State) a unanimous decision was rendered Dec. 23 in what were known as the ouster cases, the Court holding that the Standard Oil Co. of Indiana, the Republic Oil Co. and the WatersPierce Oil Co. had conspired and combined to monopolize the oil business in Missouri. The Court decreed that the Waters-Pierce Co., in which the minority interest had been contesting for control, might continue in business if by Jan. 15 it could show that it was to be operated asanindependent concern. The other companies were given until March 1 1909 to close up their affairs and get out of the State. Afte:r the marked spurt of activity in November, following the defeat of Mr. Bryan, there was some slowing down in trade and business, but the tone remained very confident. The number of idle freight cars on the railroads increased from 110,912 Oct. 28 to 222,077 Dec. 23. Print cloths at Fall River were advanced Dec. 2 from 3¾ to 3 7-16 cents. Middling upland cotton Dec. 31 closed at 9.35 cts. (after having been 9.10 cts. Dec. 11), against 9.35 cts. Nov. 30. Wheat prices advanced still further early in the month, the May option in Chicago touching $1.11 Dec. 4, but the winterwheat condition figures issued by the Department of Agriculture Dec. 7, though showing an average condition of only 85.3, with acreage reduced 5.6%, were somewhat better ·than had been expected, and by Dec. 15 the price was down to $1 04¾; the close Dec. 31 was at $1 OS½. An important event was the announcement that on Jan. 1 1909 commodity rates on trans-continental traffic over the railroads were to be advanced 10%. The advance related to the portion of the rate applying west of Chicago. No definite action was taken with reference to trunk-line schedules between New York and Chicago. President Roosevelt in his annual message to Congress, in discussing a change made by Congress in the measure relating to the Secret Service, providing that there should be no detail from the Secret Service and no transfer therefrom, made the statement that "the chief argument in favor of the provision was that the Congressmen did not themselves wish to be investigated by Secret Service men." This remark was resented in both Houses of Congress, and the House of Representatives adopted a strongly worded resolution asking the President to transmit to it the evidence upon which he based his statem!mts. A letter was also made public written by Mr. Roosevelt, dealing with unfounded allegations against Mr. Taft's brother and the President's brother-in-law in connection with the $40,000,000 32 RETROSPECT. !)ayment for the Panama Canal some years ago. In this letter a savage attack was made upon Mr. Delavan Smith and the "Indianapolis News," and also (in connection with an-other matter) upon Mr. Wm. M. Laffan and the "New York Sun." Later, Mr. Roosevelt sent a special message to Congress defending the canal purchase, and making an equally bitter attack upon Mr. Joseph Pulitzer, the proprietor of the ·"World," and suggesting his prosecution for libel by the Government. With the view to having a tariff bill ready for the extra session of Congress, to be called after the 4th of next March, the Committee on Ways and Means of the Hou e of Representatives conducted tariff hearings at which .Andrew Carnegie appeared, also Judge E. H. Gary of the U.S. Steel Corporation and Charles M. Schwab of the Bethlehem Steel Corporation. The two latter argued in favor of continued tariff protection, though Mr. Gary stated that the Steel Corporation would be able to take care of itself, but that the effect of a radical reduction in the tariff would be disastrous to the smaller steel concerns . Mr. Carnegie insisted that steel needed no protection whatever. Notice was given of a definite understanding reached between Japan and the United States (by the formal exchange of notes on ov. 30) for the preservation of the status quo in the Pacific Ocean and the Chinese Empire-see V. 87, p. 1450. The new Turkish Parliament was definitely opened amid great enthusiasm -on Dec. 17. After the holding of a second conference of the Governors of the different States, for the conservation of the country's natural resources, President Roosevelt addres ed letters to the Governor General of Canada and to Pre ident Diaz of Mexico, inviting their co-operation in an international conference for conserving the natural resources of orth America, to be held Feb. 18 1909. President Castro of Venezuela went to Europe, and during his absence the Dutch warships eized certain coast guard ships as a repri al against Castro's Government for having refused to give sati faction for unfriendly acts against Holland. An uprising then occurred, whereupon Gen. Juan Vicente Gomez, the ViGe-President, who had been acting President during Castro's absence, assumed the full reins of Government (after he had frustrated an attempt on his life), and constituted a :riew Ministry. The new Administration revoked the decree prohibiting the trans-shipment at Willemstad, Island of Curacao , of goods destined for Venezuelan ports, which had been the main q_ause of the difficulty between Holland and Venezuela , and the Dutch accordingly suspended naval operations. The new Government also permitted the resumption of trade between Venezuela and Columbia at all frontier points. President Nord Alexis of Hayti was deposed as a result of a revolution carried through by Gen. Antoine Simon , and the latter subsequently became President. The U. S. Government on Dec. 5 sold $30 ,000,000 2% 10-30-year Panama Canal bonds and awarded the whole issue at an average price of 102.4368. The bids aggregated $102,808 ,800. Government deposits in banks Dec. 31 were $123,92 ,436, against $130,111,806 Nov. 30, and Government money holdings in Sub-Treasuries $313,175,726, against $2 1,9 1,409. Bank note circulation secured by bonds was 62 ,7 6,205 Dec. 31, against $614,907,265. The State of Sao Paulo, Brazil, floated £15,000,000 ( 75,000 ,000) 5% gold bonds in connection with the coffee valorization, to refund Joans previously put out. The bonds were guaranteed by the U. S. of Brazil and $10,000,000 of the same were offered in this city and largely over-subscribed. The Joan has a lien on 7 ,000,000 bags of coffee and provision is made for the disposition of this coffee in stated amounts from year to year. See V. 87, p. 1619. The bond and stock brokerage house of H. W. Poor & Co. of New York announced its suspension Dec. 26 . This was followed on Monday, Dec. 28, by the su pension of the house of the same name in Boston. It appeared that Mr. Poor was the sole member of the ew York house, though the Stock Exchange had not been notified of the retirement of the other members. In the Boston house Mr. Poor held only a minority interest. The two board members of Marshall, Spader & Co. of this city (Thomas W. Moorehead and William H. Martin) were suspended from the Stock Exchange for three years in connection with transactions with Coster, Knapp & Co., which failed the previous April. The trial of John G. Jenkins Jr., formerly President of the failed Jenkins Trust Co. of Brooklyn, on an indictment charging misuse of funds, resulted in his acquittal. The firm of Phelps, Dodge & Co. was incorporated with $45,000,000 capital to take over the mining properties and metal selling business of the old firm. The International Smelting & Refining Co. was organized with 50,000,000 authorized capital (present issue $20,000,000 to $25,000,000) by interests identified with the Amal. Copper ·Co. Gov. Hughes refused the investigation into life insurance legislation of this State asked for in a resolution adopted by the Committee on Insurance of the . Y. Chamber of -Commerce. He carried out, however, his determination to have an inquiry made into speculation in securities and commodities and appointed a committee for that purpose, to -serve without pay, and consisting of a number of eminent men. ·The Chamber of Commerce empowered its Committee on Finance and Currency to associate with themselves other members of the Chamber with a view to making an investi.gation of the financial affairs of New York City. The Union Ferry Co. raised its passenger fares between ew York and .!Brooklyn to 3 cts. for all hours of the day. Prior to April 12 l. 908 the rate ha~ been 1 cent during the rush hours and 2 cts. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis the rest of the day. The New York Terminal Co., which succeeded to the property of the Brooklyn Ferry Co. at foreclosure sale, discontinued the operation of five of the .ferry lines across the East River. A dreadful earthquake on Dec . 28 destroyed Messina in Sicily and obliterated Reggio, Bagnaro and other towns in the Department of Calabria in Southern Italy, causing a loss of life estimated at 100,000 to 150,000. Railroad Events and Stock Exchange Matters.-While maintaining its strength and tone, the stock market during December displayed a great deal of irregularity. Some stocks made new high records for the year, while others showed a reactionary tendency. Fluctuations were wide from week to week and from day to day. The low-priced shares were again a striking feature and some of these were whirled up with great rapidity. About the middle of the month some demoralization was caused by a sharp break in Amer. Smelt. & Ref. stock, induced by the announcement of the organization of the opposition company referred to above. The market soon recovered its tone under the leadership of the low-priced shares, the traction properties being particularly prominent. Amer. Smelt. & Ref. com. sold down from 94½ Dec. 1 to 76¾ Dec. 18 and closed at 83½ Dec. 31. Amal. Cop. followed a closely similar course, declining from 85½ Dec. 1 to 75¾ Dec. 21 and closing at 83½; Steel com. was 56¾ Dec. 9, 5l¾x Dec. 21 and 53½ Dec. 31. Among the low-priced specialities, Chic. & Alton com. sold up from 48¾ Dec. 3 to 68½ Dec. 31 and closed at 68; and B. R. T. rose from 54½ Dec. 3 to 69¾ Dec. 28, with the close 67¾; Mil. & St. P. com. dropped from 152½ Dec. 2 to 143½ Dec. 21 and closed at 151. So. Pac. com. touched 121½ Dec. 11, got down to 115¾ Dec. 21 then rose to 122½ Dec. 30, and closed at 120¾x. One strengthening feature was the large reduction in expenses shown in the monthly returns of some leading roads. Atchison was conspicuous in this respect, and the com. stock, after declining to 94¾ Dec. 21, advanced to lOl¼Dec. 29 and closed at 1001/s. N. Y. Cent. advanced from 116½ Dec. 3 to 126x Dec. 31 and closed at 125¾. Wis. Cent. declared its initial div. on pref. stock and W. U. Tel. made its quar. div. ·¾%, against ½%. Fed. Min. & Smelt. Co. resumed on com. On the other hand, Mich. Cent. and Lake Shore & M. S. declared only the regular dividends, omitting the extras, and the Rutland RR. omitted its dividend altogether. An important event was the acquisition of the Col. & So. by the Chic. Bur. & Quincy. The Lake Shore disposed of its entire holdings of Lehigh Valley RR. stock. St. L. & San Fran. RR. sold $30,000,000 of its gen. lien 5s and the Chic. R. I. & Pac. Ry. sold $9,000,000 1st and ref. 4s. U. S. Rubber Co. sold $15,000,000 6% col. tr. bonds. Ches. & 0. sold $11,000,000 gen. fund. and imp. 5% bonds. The B. & M. sold $11,700,000 20-yr. deb. 4½s. The Money Market.-Money became firmer in Dec. and call loans on the Stock Exchange at one time got up to 4½, with the rates Dec. 31 2½@3. The advance followed from the reduction in money holdings and surplus reserves of the Clearing-House banks, due to the Treasury's ab orption of cash by reason of the sale of $30,000,000 Panama Canal bonds and to the additions to the money hodings of the trust companies. Rates for time loans at the close were 3@3¼ for 60 to 90 days, 3¾ for 4 mos. and 3½@4 for 5 and 6 months. The money holdings of the Clearing House banks were reduced from $381,960,200 November 28 to $344,911,300 Dec. 26. Surplus reserves dropped from $23,881;125 Nov. 28 to $14,184,050 Dec. 19 and were $18,269,675 Dec. 26. Loans were reduced from $1,348,282,700 Nov. 28 to $1,264 ,616 ,800 Dec. 26. Deposits fell from $1,432,316,300 to $1,306,566,500 Dec. 26. The money holdings of the State banks and trust companies outside the Clearing House increased from $105,950,600 Nov. 28 to $108,401,800 December 26. Foreign Exchange, Silver, &c.-Foreign exchange the first half of the month was almost uninterruptedly strong and the highest rates for the season were reached, with a renewal of gold exports for the first time since the previous July. Indications then seemed to point to an advance in the Bank of England minimum, with the probability of higher discounts in London than rates for money in New York. The effect of this was to promote selling of American stocks for foreign account. There were also some transfers of loans from London to New York. The advent, however, of dearer money here, together with the negotiation of American securities abroad, occasioned a downward reaction, bringing sterling below the gold-export point. The latter part of the month an urgent demand for remittance for settlements maturing at the end of the year caused a renewed advance, and the market remained strong with rates at or close to the gold-export point, and some further small shipments of gold occurred. The high figures for exchange as a rule were on Dec. 14, when 60-day bills were 4 8505@4 8515, sight 4 8710 @4 8725 and cable transfers 4 87 45@4 8770. Some decline then ensued, but quotations Dec. 21 to 23 were again close up to these figures and cable transfers Dec. 23 were 4 87 50@ 4 8765. The close Dec . 31 was at 4 8510@4 8520, 4 8705@ 4 8710 and 4 8735@4 8745. Open market discounts at London tended lower and were 2% Dec. 31; at Paris, however, the tendency was upward, with the closing quotation 2%. At Berlin and Frankfort rates Dec. 31 were 2½. Silver touched the lowest figure of the year on Dec. 2 at 22d. Recovery ensued, with the price Dec.31 23 3-16d. LISTINGS ON NEW YORK STOCK EXCHANGE. 33 LISTINGS ON NEW YORK STOCK EXCHANGE LISTINGS ON THE NEW YORK STOCK Bonds. Issues fO'T ,u:w Old issues I Replaclng I capUal, &c now listed . old securi.-tes. Total. EXCHANGE DURING THE YEAR 1908. $ $ $ $ 1908 ________________ _ _ 648,869,500 128,294,500 872,958,000 'The expansion in the amount of bonds listed on the 1907 _________________ _ 246,733,914 95,794,000 72,362,000 101,717,086 420,813,000 12,304,500 256,482,000 X 571,898,500 1906 ___ -- - - - - - - ---- - - - x303,112,000 New York Stock Exchange during the year 1908, as 1905 20,000,000 390,947,650 980,026,650 - - - - - - - - - - - - -_ 569,079,000 1904 __-- ___ _______________ 105,269,100 535,079,600 429,810,500 -compared with the total for the preceding twelve 1903 12,798,000 376,975,750 581,288,800 ------------------_ a191,515,050 1902 _________________ 2 ,878,000 333,124,987 a533,519,300 197,516,313 months, is indeed striking. The aggregate reached 1901 --------------- --- 220,171,700 21,270,100 681,568,300 923,010,100 147 ,678,597 6,287,000 289,747,403 443,713,000 1900 ---- _____ _- ----- -______ - --- --- - 156,304,760 22,908,000 346,171,480 525,384,240 by the issues representing "new capital, &c. ," not 1899 ___ -Stocks. ____ -- -- _--- ------ 123 ,977,900 248,780,200 141,169,350 513,927,450 ,only exceeds by 160% the corresponding figure for 1908 95,869,506 576,032,050 1907 __ - _-- ----- - - ----- 159,106,244 321,056,300 16,440,700 408,849,150 662,769,450 ------------------ 237 ,479,600 1907, but it establishes a new record for the last decade. 1906 1905 __________ - - - - - - - - 125,123,300 99 ,889,200 308,4-22,400 533,434,900 1904 ____ -- -- _- - - - --- - - 120,635,050 ---------55,231,750 175,866,800 The total amount of bonds, also-new, old, refunding, 1903 38,791,f.()0 215,154,495 426,890,295 -- -- _--- -- ___ -- --- 172,944,200 11,462,300 521,500,895 784,032 ,595 1902 --- ---- --- -------- 251,069,400 &c.-has only twice in the last ten years been exceeded. 1901 ------------------ 429,537,450 76,090,600 1,136,385,665 1,642,013 ,715 ------------------ 296,550,572 130,205,000 194, 179 ,428 620,935,000 1899 _________ - - - - - - - - - 311 ,420,285 The listings of stock issues for new capital, on the 1900 - --- ------ 392,752,320 704,172,605 -0ther hand, have remained close to the minimum Note.-AppUcatlons tor the listing or Trust Compftny receipts and or securltteS marked "assented" (If preparatory to reorga;-;.:;:;atlor•). or of securities stamped "asrecord for the decade, although, when the "old issues sumed" or "assessment pald"-the securities theru;;eives having previously been not Included in this table. just listed" and those "replacing old securities" are listed-are a Not Including Sl,155,000,000 Imperial Russian State 4% certificates or rente. x Excludes 425,000,000 Japa nese Government bonds , included, the result is not widely different from that ·BONDS. STOCKS. for other recent years. Year. Street Ry. Mtscell . Street Ry. Mtscell. Ratlroad. Railroad. While the showing of new bonds listed is, · as we $ $ $ $ s have said, noteworthy, the figures are somewhat mis- 1908 --- 506,160,000 65,076,000 301,722,000 200,502,600 2,417,600 311,007,250 1907 --- 267,992,000 16,072,000 136 ,749,000 146,750,800 20,443,400 408,837,850 leading in case they are allowed to go unanalyzed, 1906 --- 305,727,500 126,231,000 a139fi4o1ooo 248,186 ,550 188,210,100 226,372 ,800 1905 -- _ 538,584,000 29,650,000 411, 92,650 176,922,800 58,274,400 298,237,700 54,951,250 17,118,000 174,925,100 120,915,550 -o r are not considered in their relation to current 1904 -- _ 343,036,500 -------- 200,874,895 1903 --- 270,759,000 52,042,000 258,487,800 226,015,400 1902 --- 434 ,612,000 12 ,780,000 x86,127 ,300 390,388,340 54,479,850 339,164,405 financial events. A year following immediately upon 1901 --- 667,006,000 65,321,000 190,683,100 284,584,515 62,000,000 zl295429200 --- 269 ,303,000 17,000,000 157,410,000 381,205,200 16,806,500 222,923,300 -one of continued financial stress, culminating in panic 1900 1899 _- - 446,634,000 13,040,000 65,710,240 410,71G ,6aQ 51.980,000 241,475,975 and a general disorganization of the country's money a Excluding $425,000,000 Japanese Government bonds. x Omitting Russian markets, was bound, as the tension gradually relaxed, bonds, Sl,155,000,000. z Includes U. S. Steel Sl,0113,688,000. The follqwing tables show the purposes for which to witness the listing of numerous loans that, under the several blocks of bonds, rnilrcad , street railway normal conditions, would have sought the consideraand miscellaneous, were issued: tion of the Exchange at an earlier date. As is well LISTINGS OF RAILROAD BONDS known, 1907 was a period of temporary financing, Com1Jcitw and Title of Loan Amount Purpose of Issue At-ch Top & Santa Fe gen 4s- ___ $4,000,000 - _Jmpro1Tements do do E Ok div lf<t 4s 3 ,475,000 __ constructlon of road through note issues; these, no one of which was listed , do do 10-yr conv 5s_ 3,885 ,000 - _ Eouio Imo ts & exten'ns do Transc. Sh.L.4s.17,000,000 __ Canst'n and purch. :,f road. aggregated 330 millions. The note issues in 1908, Bait do& Ohio, Southw div 1st 3 ½s 1,400,000-- Tmprovem'ts & extensions do do do do 6,000_ . Retire old bonds as compiled below, were confined chiefly to the first do do prior lien 3 Hs- 2 ,000,000 __ Improvements & exten'ns do do do do 3,000 - _Retire old bonds half of the year and amounted in the aggregate to only do do 1st 4s ________ 4,000,0Q0 __ Jmprovements & exten'ns 2,000 -- Retlre old bonds .about 190 millions. On the other hand, permanent Buff doRoch do& Pittsdoconsoldo 4 ½ s-- 3,000,000 __ Generalcorporatepurposes do do do do __ 1,090,000-. 1lt.t!re old securities financing was resumed on a large scale too late in Canada ~outhern 1st 5s, extended _14,000,000-. 01d 5s extended a~ 6 % Centr:. .Fau~c 1-;tref guar 4s ____ 20,585,000 -- Retlre notes to Gov't consol 5s- _ _ _ _ _ 2,000,000 __ Retire series A 6R 1908 greatly to affect the year's listings, and even the Chesdo& Ohio 1st RI!; Sandy Ry 1st4s 4 ,771,000 --Construction of road Potts Cr'k Br 1st 4s 600,000 __ constructlon of road 50 millions of bonds sold by the Union Pacific last Chic doBurl & Quincy gen 4s _____ l6,000,000 __ Add'ns, lmp'ts, equip, &c & East Ill ref & lmp't 4s-- 2,250,000-_Addltlons & tmprovem'ts June have not as yet been placed on the "regular list," Chic Chic Rock Isl & Pac Ry ref 4s_ 9,318,000--Addltlons & lmprovem'ts do 3,798,000--Ref'gbonds &equip rrotes which js the only one embraced in our compilation. Chic doR I &doPac do RR coll tr 4s _ 140,000 __ Acqulre CR I &P Ry stk Chic St Paul Minn & Om consols 2,241,000- - Constructlon & acqulslt'ns The remarkable ease with which bond issues have been do do do do 464,000 __ Refundlng old bonds We~to Indli~a co~g1 4S-- 2,m:888=j\~g~~~~J ~e~m~ob~~J:ts floated in recent months has only since the close of Chic Clev Cin Ch & St L gen 4s ____ 1 000,000 __ Jmprov'ts, equlp't. &c do do do __ 83,000 - -Retlre old bonds 1908 begun to produce large additions to the amounts Colo do&South ref &ext 4 ½S ----12,740,000--Acqulresecurltlesofsubsldlary cos • lmprov'ts, &c of listed securities. do do do do 150,000--Retlre old bonds do 1st 4S--------300,000 __ Jmprovements The fact is that the magnitude of the additions to CubadoRR 1st 50-yea r 5S----- ---- 7,799,000 __ constructlon of road lmpr' ts & secm·lthe Stock Exchange sheet during 1908 is in considera- Delaware & Hudson 1st & ref 4s-- 13,309,000--Equlp't, tles of other roads 367,000 __ c ons truc' n, equlp't, &c Denver & Rio Grande 1st consol 4s ble measure due to financing of an earlier period. For Evansv & Terre Haute 1st gen 5s 4 73 ,ooo __ Improv'ts & equipment Great Northern Consol 4s of 1933 _ _ _ _ _ _ _ _ _ _ _ _ _ 482 ,000 - _Retire old bonds instance, the New Haven road and the Telephone com081 1 4 ~:sia:tMf~nM&11f!nd ;on\S\~ s ·m:888=:fi!~i:i:! ~~1~!lE~n1~ pany have listed in the course of the 12 months de- Hocking Valley 1st consol 4 ½s- _ _ 382 ,ooo __ Jmprovem'ts & equipment bentures to a total of 45 millions and 100 millions re- ir'wc' i~ni~~ftei if~fuea:u48re·(~is: 2 ·m:ggg==k~Fti~Jr~egl~ bonds do do do do 1,832,500 __ Jmprovem'ts & equ lp't spectively, dating back to 1906, but all representing· LehlghVall. gen . consol. 4 _______ 1,539,000--Retlre car tr.&stk.pur.bds. Loulsv. & Nashv . unlf. 50-yr. 4s-- 3,000,000--Retlre old bonds. new capital, while the last installment of the subscrip- Mex.lean Central consol. 4s_______ 181,000--General purposes. do do do ________ 10,000}_Retlreold7sandscrlp. 1st cons. Inc. 3s 28,000 tions for a large part of the same was not due until Minn.do& St. do Louis 1st & ref. 4s ___ _ . 700,000 --Add 'ns , lmp'ts & equlp't do __ 455 ,000 __ Retlre old 7s. early in 1908. Altogether, the New York New Haven M inn.doSt. P.do& S.S.doM. con. 4s ____ 3,280 ,000--Constructlon of road. do do do do __ __ Retlre old bonds. & H artford has secured the listing of seventeen differ- Mo . Pac. coll. 40-yr. 4s of 1905 - ___ 8,0001,ooo ,000 __ General purposes. do St.L.I.M . &So.1st 30-yr.4s 567 ,ooo __ Jmprovements & exten'ns. ·ent issues, railroad and street railway, many of them do Riv. & Gulf divs. 4s_____ 811,000 __ Jmp'ts, constr'n & equlp't. do unlf. & ref. 4s _______ ___ 60,000--Constructlon o! road. long outstanding, the total face value thereof being National RR. of Mex. 1st consol. 5s 253 ,ooo __ Equipment. N. Y. C. & H. R. 30-yr. d eb. 4s-- _13,000,000 __ Terminal lmp'ts, &c. . 179 millions. Among the latter's new issues are not N. Y. C. Lines equip . tr. of 1907--30,000,000--Purch. equip. forsyst . llnes. N.. Y. Chic. & St. L. 25-yr. deb. 4s_ 5,000,000--Equlp't, constructi on, &c. Y . New Haven & Hartfordonly the aforesaid 45 millions of 1906, but also 31 N.Non-conv. 3 ½ & 4 % debens ___ .40,000,000 __ OJd securities just listed. do 4 % debens. of 1906_ 15,000,000} _Improvements and general millions of the 39 millions 6% debentures offered to the do 3 ½% debs. of 1906_29,997,100 purposes. Convertible 6 % debentures - ___ 31,069,400_ - Subsc. at par by st'khold'rs. £hareholders in December 1907. The City of New York 4 0 ~~~\t:.·lp:.Xrsl:t~lr-.3'Js_ _8it:m:888:=b1fcrt ovne~j~~st.Ifsied. bonds , also, to a total of 105 millions, listed during do do do __ 4,042,000 __ Jmprovements, &c. Naugatuck RR. 1st 50-yr. 4s ___ 2,500,000] the year, include, besides 50 millions dated November N.Y.&N.E.-Bost.Term..lst 4s_ 1,500,000 New England consol. 5s ____ __ 7,500,000 _OJd bonds just llsted. do do 4s _____ 10,000,000 1907 and sold in the first half of 1908, some $55,N. Y. Prov. & Boston gen. 4s-- 1,000,000 Prov. & Springfield 1st 5S---- -750,000 000,000- placed in 1907, and yet of necessity included Prov. Terminal 1st 50-yr. 4s ____ 4,000,000--Improvements, &c. RR. cons. 4s (loan May '08) _20,000,000- _ Improvements, &c. among the new capital issues which were listed dur- Penn. Philippine Ry. 1st 30-yr. 4s ______ 4,305,000 --Constructlon of road. Cine. Chic. & St. Louis con.} 6,000,000{_Improv'ts, equlp't, securing 1908. Following is our usual 10-year comparison: Pttts. gu. 4s, ser. G----------- --- -ltlespurchased, &c https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis d: 34 Compan11 and Title of Loan LISTINGS ON NEW YORK STOCK EXCHANGE. Amount Purpose of Issue Reading Co. general 4S-- ________ $1,366,000 __ Acquisitions & lmprov•ts. St. Louts & San Fran. ref. 4s- ____ 2 ,000,000- _Improvements & equlpm't. do do do -548.000-- Rettre old bonds. St. Louis Southwest. consol. 4s___ 795,000--Extenslon of road. Sou. Ry. devel. & gen. 4s, ser. A--20,000,000--Improvements & equlpm't. Undergr. El. Rys. of Lon. pr. 1. 5s_ 5,000,000 __ cash requlr e'tsreorg. plan. do do 4½s of 1933 ___ 14,000,000l_Exchange for profit-sharing do do Income 6s ___ __25,000,000 _ notes. do do 4½s of 1933 ___ 1,000,000 _Reserved tor spec. Interest. do do Income 6s _____ 1,000,000 _ fund. Union Pacific 20-year conv. 4S - --- 1,500,500--Constr'n, acquisitions, &c. Vandalia RR. consol. 4s, ser. B--- 1,299,000--Improvem'ts & equipment. do do do __ 1,701,000--Retlre old bonds. Wabash RR. 1st 5S------------771,000--Retlre old bonds. do lstret. & ext. 4S-683,000--Exchange debens. A & B. do do do 1,837 ,ooo{_Real estate, Improvements, pay equipment bondR. Wabash-Plttsb. Terminal 1st 4s ___ 1,236,000--Improv'ts and acquisi t ions Wisconsin Central 1st gen. 4S----800,000--Improv'ts, equip., &c. Total ____________________ - $506,160,000 LISTINGS OF STREET RAILWAY BONDS. Compan11 ana Title of Loan. Amount . Purpose of Issue. Brooklyn City 1st consol. 5S--- -- -$1 ,860 ,000--Improvement s. Bklyn. Queens Co. & Sub. 1st 5s-- 3,150,000--Acqulsltlons & lmprov' ts. do do do 350,000- -Exch. underlying bonds. do do 1st cons. gu. 5s 629,000 __ constr'n & gen'l purposes. Bklyn. Rap. Trans. 50-yr. 5s 1945_ 375 ,000--Improvements. do do 1st ref. conv. 4s 4,500.000- _Acq.&secur.contr'ld prop'!!. Havana Electric consol. 5S- ------ 1,050 ,000 - - E xtenstons & lmprovem'ts. do do - - - _- - - _ 65 ,000 - _Refunding old bonds . Int. Rap. Tr. 3-yr. conv. 6 % notes 15,000,000-- Ret. 4 % notes dueMay 1 '08 do do do 9,500,000{ P ay oth. not es, pay'ts acc't constr'n Bklyn. subw'y,&c . Manhat. Ry. cons. 4s, tax exempt_l0,818,000 - -Retlre old Met. El. bonus . do do do 804,000 - -Extenslon to Bronx P a rk. N. Y. New Haven & Hart. systemConsol. Ry. 3, 3½ & 4% debs--11,153,000] Hartford Street Ry. 1st 4s __ ___ 2,500,000 New Haven Ry. 1st 5S- - ------600,000 _Qld securities just listed. Winchester Ave. 1st 5s - _ _ _ _ _ _ _ 500,000 Worcester & Conn. East. 1st 4 ½ s 1,992',000 St. Jos. Ry., Lt. & Pow.1st5s-- - 140,ooo __Jmprovements. Total --- - - _- _ -- - _-- - - -- - -$65 ,076,000 LISTINGS OF MISCELLANEOUS BONDS. Company and Title of Loan. Amount. Purp1Jse of Issue. Allls-Chalm. Co. 10-30-yr. s. f . 5s.SI0,325,000--Exten's, work. capital, &c. Amer. Teleph. & Teleg. conv. 4s_100 ,000 ,000--Constructlon & acquisi t ions do do do 7 ,388,000 __ Acquire West. Elec. stock. Bklyn. Union Gas conv. deb. 6s ___ 3,000,000- -Old securities just listed . do do 1st consol. 5s - _ _ 201,000 _ -Ex.change underlying bds. Gen. Elec. conv. deb. 5s 1917 -- - - 12,875,000 __ Gen. pur. & work. ca pital. International Paper cons. conv. 5s_ 1,000,ooo __ constructlon & acqulslt'ns. do do 1st 6s _ _ _ _ _ _ _ _ _ 23 ,ooo __ Exch. for prior lien bonds. Michigan State Telephone 1st 5S-925,000--Extenslons & lmprovem'ts . New York City 4% corp. stock ___ l3,000,000} do do 4½% do 82,000,000 _Varlousmunlclpalpurposes do do 4% ass'mt bds ___ 2,000,000 do do 4½ % do 8,000,000 N. Y. & Richmond Gas 1st 5s- _ _ _ _ J 64 ,ooo __ Extensions & lmprovem 'ts. N. Y. State4% highway Imp. bonds 5,ooo,ooo __H !ghway Improvements . People's Gas Lt. & Coke ref. 5s - - - - 2,000,000- - Addltlons & lmprovem ' ts. Ind. Nat. Gas & OU ref. 30-yr. guar. 5S---------------- - -- 4,000,000 -- Retlre old bonds . do do do 2,ooo,ooo __ Pur. of prop. by Peop's Co. Union Bag & Paper Co. 1st 5s _____ 2,376,000 __Acqulsltlons, Improv'ts,&c. U.S. Gov't Pan. Canal 10-30-yr. 2s30,000,000 - - Construction of cana l. U.S. Red. & Ref. Co. 1st 6s ______ 1,841,000--Old bonds just llsted. Utica Gas & Elec. ref. & ext. 5S - -- 1,000,ooo __ constr'n, acquisitions, &c. Western Union conv. 4s, ser. A ___ 10,ooo,ooo __ Improv'ts and ext ensions. We t'ghouse El. & Mfg. cons . 5S- - 2,604,000 __ Paydebtsunderplan. Total ·---_---- ____ ------_ --$301 ,722.000 Notable as the recent period of prosperity was for new railroad construction, comparatively few of the large bond issues here included were made ostensibly on account of the same. Additions and improvements play a much more prominent part. As representing new railroad lines, two issues of the Atchison are conspicuous, namely the 17 millions Transcontinental Short Line 4s and the 3½ millions Eastern Oklahoma division bonds, whHe, on account of improvements, new equipment, &c., the same company has put out some 8 millions of other issues. Two other strictly construction issues are the 4¾ millions of Big Sandy Ry. (Chesapeake & Ohio) bonds and 3¾ millions of Minneapolis St. Paul & Sault Ste. Marie 4s. The Colorado & Southern (recently acquired by the C. B. & Q.) listed 12¾ millions of its refunding and extension 4½s "to acquire securities of subsidiary companies" and for improvements, but practically the greater part of this amount represents new construction. These issues certainly form a relatively small exhibit. The fact is that much of the railroad construction work undertaken by the great companies, such as the St. Paul, the Northern Pacific and the Great Northern, was largely financed before the depression in business began. The outlays of the Union Pacific for new building have been partly met from the 50 million dollar bond issue sold but not yet listed, while the Virginia Railway (Mr. Rogers's Tidewater road) was temporarily financed through a note issue placed by Redmond & Co. The bonds issued for improvements and acquisitions are far more notable. Here we have the New York https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Central's 13 million debenture 4s and the 5 million 4% debentures of its subsidiary, the New York Chicago & St. Louis and the 30 millions of N. Y. Central Lines equipment trust bonds, the last named having provided equipment also for the Lake Shore, Michigan Central and other roads in the system. Here, too, are the 20 millions consol. 4s of the Pennsylvania RR. and 6 million 4% bonds of its subsidiary, the Pittsburgh Cincinnati Chicago & St. Louis. The Southern Ry. Co. has sold and listed "development and general" 4s to a total of 20 millions, to provide for the needs of its extensive system. The Delaware & Hudson Co., on account of trolley and other acquisitions, has listed 13 1-3 millions 1st refunding 4s. Other notable listings are 16 millions of Chicago Burlington & Quincy general 4s, 8 million Missomi P acific collateral trust 4s of 1905, 7½ millions B. & 0. bonds of several issues and 13 millions Rock Island refunding 4s. Turning now to bond issues other than those of steam railroads, we note the 46 millions of securities of the reorganized Underground road of London, 30 millions of United States Panama Canal 2% bonds; 11 ¾ millions Manhattan Ry. consol. 4s, issued chiefly to refund matming 6% bonds; 24½ million 6% notes of the Interboro Rapid Transit Co. of Jew York City, the one short-term issue to be listed, largely a refunding issue; 12½ millions convertible debentme 5s of the General Electric Co., and 10 millions convertible 4s of the Western Union Telegraph Co. The stock listings of all classes are grouped as follows: . LISTINGS OF RAILROAD STOCKS. Company ana Class of 8tock. Amount. Purpose of Issu e. Cana dian Pacific, ordlnary------$23,206,000 __ Jmpr'ts . equipment, &:c. Chicago & Alton RR., common___ 834,200--Exch. stocks former C. & A. RR. and Ry. Chic. Mllw. & St. Paul, preferred-_ 85,000- _Exchange convert . bonds. Cleve. & Pitts. spec. guar. better•t_ 529,750--Addltlons and equipment. Cuba RR., preferred ___________ -10,000,000- _constructon of road. Denver & Rio Grande, common --38,000,000} Exchange stocks of old do do preferred ___ 45,772,200 company. mr::1fg~~t~~~·R~1:~~~========~~:m:i88=:~Es~~&~l~~c~~;:~~l·d~~:: Minn. St. Paul & s. s. M., preL ___ 1,400,000J Subscribed b:,,· stockholders do do com ___ 2,800,000J at par. Missouri Pacific, stock ___________ 1,935,200--2½% stock dividend. Pennsylvania RR., stock- ------71,650--Exch. stocks subsld . cos. Pitts. Ft. W. & Ch.,gur.spec.stock 2,681.300--Improvements & equlpm't Rock Island Co., common---- - 139,9001-Exchange Chic. R. I. &.,Pado do preferred_______ 100,900] cUlc Rv. stock. Southern Pacific Co., common__ __ 3 ,000- - Exchange for pref. stock. Wabash RR., common _________ 207,500}_Exchange debenture "A" do preferred _________ 207,5'00 and "B" bonds. Total _____________________ $200,502 ,600 LISTINGS OF STREET RAILWAY STOCKS. Company ana Class of Stock. Amount. Purpose of Issue. United Rys. ot St. Louis, pref- ___ $2,417,600--Acct acq. St. L. & Sub.Ry . Total ______________________ _$2 ,417 ,600 LISTINGS OF MISCELLANEOUS STOCKS. Com1)anv ana Class of Stock. Amount. Pur1}0se of Issue . Amer. Agrlc. Chem. Co., pref_____ 444,400--Purchase of property. American Locomotive Co., com ___ 25,000,000} _Old stock just listed . do do pref ---25, 000,000 American Steel Foundries, stock--17,184,000 _Exch. for old stock. American Malt Corp., common___ 680,1001-Exchange for stocks of do do preferred _ _ 542 .400 r AmerlcanMalt Co. American Snuff Co., preferred ____ 12,ooo,ooo} Old stock just 11s1,cd. do do common ----11,001,700 1 i~~~i-1~: ~~:.!tJ;~~~·:-~~~~~==11:8i8:888==~~ssi~~k~uas\f1~ed. Central Leather Co., preferred---383,000--General purposes. Consolidated Gas Co of N. Y., stk-18,719,500--Exchange conv. debenture, Corn Products Refining, common_ 535,0001-Exchange stocks Corn Prodo do preferred 1,505 ,1 OOJ ducts and other cos. Crex Carpet Co., stock----------'- 3,ooo.ooo __ Am. Grass Twine stk.red'd. Eastman Kodak Co. of N.J., com_ 50,000--Employees tor services. Granby Consol. M., Sm. & P., stk_ 40,500-_Acqulsltlon of prop., acc. Int. Harvester Co.pf.stk.tr.certfs_60,000,000}-0ld stock just listed do do common do 60,000,000 Lincoln Nat. Bank of N. Y., stock_ 500,000--Stock dividend. Michigan State Telep. Co., com ___ 3,500,000--Exch. for vot. trust certrs. 3 ~~~~~r3a°t~d~}!ff =~l~tti1:d1~~tJ~ sted . Union Bag & Paper Co., preferred 11,000,000} _Old stock just listed. do do common 16,000,000 United Fruit Co., stock---------301,000--Exchange convert. bonds do do ------------- 1,940,000--Stock"dlvtdend. U.S. Reduc. & Ref. Co., preferred 3,945,800l_Old stock just listed. do do common 5,918,800 Vulcan Detlnnlng Co. ,preferred - _ 1,500,000 _Old stock just listed. do do common __ 2,000,000 Western Union Teleg. Co., stock __ 2,447.100--Stock dvldends (2½%), West'se El. & Mfg. Co., assenting_ 8,938,950}_Payment of debts and sub• scdptlons under plan, cl~: ·-e~tock: ·tJS:888: Total ____ - _ - _- ___ . - __ - - - - -$311.007 .250 Three large blocks of new railroad stock sold to shareholders at par figure in this table, namely 58¾ millions of Great Northern Ry. (the subscription payments to which were spread over many CLEAR! GS AND SPECULATION. months), 14¼ millions of Illinois Central and 23¼ millions of Canadian Pacific "ordinary" stock. The Denver & Rio Grande, having been consolidated with its controlled properties, the stock of the consolidated corporation, consisting of 38 millions common and 45¾ millions preferred, has taken the place on the list formerly occupied by the same amount of common and preferred of the old D. & R. G. The "miscellaneous" stocks which have been listed aggregate about 311 millions, and aside from the 17 millions of reduced stock of the Steel Foundries company and the 9 millions of stock sold under the reorganization plan by the Westinghouse company, the total is almost exclusively made up of the old stock issues only now listed by such great industrial corporations as the Snuff, Harvester, Locomotive, Bag & Paper, Reduction & Refining and Butterick (pattern) companies. The "unlisted" department is the temporary abode of two or three important stock and bond issues; mostly part-paid securities: 35 to call to mind the sale of 17½ millions Denver & Rio Grande bonds (new issue), 30 millions St. Louis & San Francisco general lien bonds; 20 millions of Illinois Central refunding 4s due in 1955 (new issue); 11 millions Chesapeake & Ohio (new issue); 12¼ millions Chicago & Western Indiana consols; 8 millions Chicago & Alton refunding 3s; 50 millions American Telephone & Telegraph Co. convertibles; 15 millions United States Rubber collateral trust 5s (new issue); 12 millions Virginia Carolina Chemical first mortgage 5s, &c., &c. Clearly these issues will afford considerable material for the Listing Committee in the new year. CLEARINGS AND SPECULATION IN 1908. The record of bank clearings for the calendar year 1908 tells the story of depressjon and stress in mercantile and industrial affairs-a predominant feature, as we all know, during most of the period. In reviewing the exchanges for the preceding year (1907) we STOCKS, BONDS, &c .. PLACED O "UNLISTED" DEPARTM:RJ'vT• pointed out that, while for the most part the course Chicago Milwaukee &St. Paul certificates for common and preferred stock, 6 st of business affairs had proceeded along favorable ti!~ i~~e1vi~We g~~dfirst co~vertlble 20-year 6s, $3,000,000. Northern Pacific certfs. of subscription for new stock (87 ½ % paid). lines .. a conspicuous let-up occurred the last quarter, Union Pacific temporary bonds for 1st lien and ref. 4s. Virginia Carolina Chemical Co. temporary certifica tes for 1st M 5 largely induced by the monetary troubles that set year 5s of 1923, $8,200,000. Utah Copper Co. stock, $651,200. in in October. The turn of the year, however, witDlstUlers' Securities Corporation stock, $39,600. Federal Sugar Refining preferred stock, $2,000. nessed no change. On the contrary, for the first Following are the leading note issues sold during three or four months of 1908 a condition of inactiv. 1908, only one of which (the Interborough issue ·ality in all directions was conspicuously discernible. ready mentioned) was listed. Several of these are Building construction work, a marked decline in the already in process of being re-financed on a permanent volume of our foreign trade, serious losses in railroad basis. earnings, noticeable increase in the number and liaPRINCIPAL NOTE ISSUES SOLD DURING 1908. Note.-Only the six Issues marked "x" were put out during the last six months. None of the note issues has been listed on the Stock Exchange except the $24,500,000 bilities of commercial failures, all joined in telling a Interborough Rapid Transit Co. 6% notes, which are shown above In table of "Street tale of unsatisfactory conditions. Moreover, lack of Railway Bonds." employment for labor the changed conditions had Int. Dal.e. Ma/.urtty. Amount. brought about turned the tide of immigration against s Baltimore & Ohio RR _____________ 5% Mch. 2 1908 Mch. 2 1909 9,660,000 Boston & Lowell RR ______________ 6 % Feb. 11908 Feb. 1 1909 us, departures greatly exceeding the arrivals month 900,000 Boston & Maine RR ______________ 6% Jan.-Mch. '08 Jan.-Mch. '09 3,000,000 by month. All these drawbacks continued pretty X Apr.-May '09 do do Oct.-N ov. '08 7,300,000 -- -- -- ----- -- 3½ % x Boston Suburban Electric Cos ____ 5 % July 1 1908 July 1 1910 500,000 x Boston & Worcester Electric Cos __ 6% Juiy 1 1908 *July 1 1911 300,000 inuch throughout the year, although the last month Chicago Railways Co ______________ 6% Feb. 1 1908 Feb. 1 1913 5,000,000 (funding notes) __ 6% Feb. 1 1908 Feb. 1 1913 1,200,000 or two (following the Presidential election) some do do Chica.go Rock Island & Pacific Ry __ 6% April 11908 April 1 1909 6,000,000 Chesapeake & Ohio _______________ 6% July 1 1908 *July 1 1910 2,500,000 AnDenver & Rio Grande RR _________ 6% Aug. 11908 *Aug. 1 1913 10,000,000 Improvement in the situation was discernible. Erle RR ____ - - _---- ___ - - - - - - - - - April 8 1908 *April 8 1911 12,080,000 other recent development also favorable to business Fitchburg RR ___________________ 6% 500,000 6 % Jan. 15 1908 .Jan. 15 1909 Gulf & Ship Island RR _____ ____ - __ 6 % Feb. 1 1908 April I '09--11 1,000,000 Hudson Companies (Tunnel RR.) __ 6% Feb. 11908 Aug. 11910 2,832,000 revival is the apparent change in sentiment in many do do do do 6% ,Tuly 1 1908 July 1 1909 2,713,000 --- 6% Oct. 15 1908 Oct. 15 1911 6,030,000 quarters with regard to corporations; there are indido do X do do Inter borough Rapid Transit of N. Y = 6% May 1 1908 May 11911 24,500,000 Interborough-Metropolltan Co _____ 6% May 27 1908 May 27 1910 4 ,545,000 cations that a policy of less interference is finding favor x Kansas City Mexico & Orient _____ 6% *Aug,15 1910 Aug. 15 1913 1,000,000 Kansas City Railway & Light co __ __ 6% Sept. 1 1907 Sept. 1 1912 4,125,000 with our legislative bodies. Metropolitan West Side Elevated ___ 6 % Dec. 1 1907 Dec. 1 1912 100,000 Missouri & Northern Arkansas _____ April 1 1908 Oct. 1 1911 900,000 The aggregate of clearings for the whole country Missouri Pacific __________________ 6% Feb. 10 1908 Feb. 10 1910 6,000,000 6% Mobile & Ohio ___________________ 5% Feb. 15 1908 *Feb.15 1911 600,000 for 1908 reached $132,272,067,412, against $145,175,New Orleans Railway & Light co ___ 6% June 20 1908 *June20 1909 1,300,000 New Orleans Terminal Co __________ 6% April 10 1907 Aprll 10 1909 2,500,000 Norfolk & Western Ry __________ __ 5 % May 1 1908 May 1 1910 7,500,000 733,493 in the previous year, $160,019,717,333 in Northwestern Elevated RR ________ 6 % F eb. 1 1908 F eb. 1 1913 140,000 Norfolk & Southern _______________ 6% Nov. 1 1907 Nov. 1 1910 2,750,000 1906 and $143,909,448,441 in 1905, but in 1904 the Norfolk & Portsmouth Traction Co_ 6 % Mch. 2 1908 Mch. 10 1912 1,800,000 Northern Texas Traction .co _______ May 1 1908 May 11911 500,000 total was smaller than that now recorded, having been Pere Marquette __________________ 6% 6 % Mch. 1 1908 Mch. 1 1912 2,600,000 St. Louis & San Francisco RR ______ 6 % Jan. 29 1908 *Aug.29 1908 3,000,000 only $112,449,664,015. The loss from 1907 is 8.9o/c, Southern Railway ________________ 6 % May 11908 *May 1 1911 15,000,000 Tidewater Co ____________________ 6 % June 1 1908 *June 1 1913 17,000,000 and compared with 1906 and 1905 the decreases are United Railways or St. Louis _______ 5½% July 11907 *July 1 1909 800,000 Washington Water Power Co _______ 6% July 11908 *July 11911 3,000,000 17.3% and 8.0% respectively, but contrasted with Tot. RR. & Street Ry. notes, &c_ - - --- ---- ------ ----------- 171,175,000 1904 there is an increase of 17.7%. At New York Boston Rubber Shoe Co ___________ 5% June 11908 *Sept.151910 4,500,000 Cleveland Electric Illuminating co __ 6% Jan. 11908 *Jan. 1 1913 500,000 alone the 1908 total not only records a decline from Consolidated Gas Co. or New York __ 6 % Feb. 1 1908 Feb. 1 1909 5,000,000 Denver Gas & Electric Co __________ 7% 1908 250,000 1907 of 9.1 % , but shows a loss from 1906 of 24.3% *1911 Diamond Match co _____________ __ 5% July 11908 *July '09-'12 2,000,000 x Lake Superior Iron & Chemical Co_ 6% Jan. 2 1909 Jan. 2 '10-'12 1,100,000 and from 1905 of 15 .5% . As regards the comparison Minneapolis General Electric co ____ 6% Dec. 16 1907 Dec. 15 1908 641,000 National Gas, Elec. Lt. & Pow. Co __ 5% .Jan. 1 1908 *Jan . 1 1909 300,000 with 1907, it is to be said that during the early months Portland (Ore.) Gas Co ____________ 7% April 1 1908 *April 11911 500,000 San Diego (Cal.) Cons. Gas & EI. Co. 7% April 1 1907 April 1 1912 250,000 Scranton Lumber co ______________ 6% April 1 1908 April 11913 1,000,000 of tlie year-in fact, down to about the close of JuneSecurity Investment Co ___________ 5% Apr!J 1 1907 April 1 1910 300,000 very heavy losses were the rule, due in considerable Total Industrial companles ___ ____ -- .., __ ----------- ----------- 16,341,000 Total RRs., street rys. and Indus_ ----- ----------- ----------- 181,516,000 measure to the diminution in activity on the Stock • Subject to call at an earl!er date at a certain price at company's option. Exchange' but increased dealings later (and especially Space does not permit us to summarize even the · in November and December)-transactions greater principal bond issues which have been placed in re- than in the previous year-gave a more favorable cent months but not listedJ and which have served to showing. Finally, as the aggregate volume of busiput the finances of the companies concerned in easy ness on the Exchange for the full year 1908 was apcircumstances for many months to come. Suffice it proximately the same as for 1907, the decrease of https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis CLEAR! GS A D SPECULATIO 36 Mexican and Cuban issues, totaled 82¼ millions, against 70 millions in 1907 and only about 25 millions in 1904. The year's aggregate sale of bonds at the :.N" ew York Exchange was, therefore, a little more than 1,081 millions, agajnst 526 mmions in 1907 and the previous record total of 1,040 millions in 1904. 9.1% from that year, shown above, is a virtual measure of the loss in clearings due to the smaller volume of mercantile business. Outside of New York, likewise, the late year's aggregate was less than that for 1907, having been only 52,996 million dollars, against 57,993 millions, and there is also a decline from 1906, when the total reached 55,344 millions. Contrasted with the 50,087 millions of 1905, however, a moderate increase is shown, and the gain over 1904 is quite important. While, as stated above, the situation of affairs was rather better the last two months, the twelve months' aggregates for almost all cities were smaller for 190 than for 1907 and in many cases lower than the 1906 :figures. Conspicuous losses are to be founq at such -centre as Pittsburo-h, Philadelphia, Baltimore, Cleveland, San Franci co and ew Orleans. But we pass further comment, as reference in detail to the various cities with lower totals in 1908 than in 1907 wouia entail the mentioning of 88 of the 114 clearing houses included in our compilation which will be found in the Chronicle of Jan. 2 1909, page 1. With that said, we present a table covering the exhibit of clearings for New York, the cit ies outside of New York and the ~ountry's aggregate for the sixteen years 1893 to 1908 inclusive. Inc. Y ear. I ;:c. ~fe~rt~;~ ---- 1908 1907 1906 1905 1904 1903 1902 1901 1900 1899 ~m 1896 1895 1894 1~93 % ::, ______ I 79,275,880,256 -9 .1 7,182,168,381-16.7 ------l ______ 104,675,828,656 +11.6 ______ J -----______ ------ 1 -------- -------- ====== i -----______ ; ----------- 1 Clearings Inc. N~ts:~~k. if:c. .,. % 9:i, 22,060,202 +36.7 6 ,649,418,673 +4.1 65,970,337,955 -13.6 76,328,189,165 -3.9 79,427,685, 42 +50.9 52 .634,201. 65-13.4 1 60,761,791,901 · +44.8 28 ,, 70,775,056 -3.3 ~9.~41,796,924 +~2 .3 24 .3 7,807,020 \-22.0 31,2Gl,037,730 -14.7 ~~:~&U!t48; 22,375,548,783 23,338,903,840 21,072,251,587 22,882 ,489,378 +~u ~~:2~g:&n:~~i -4.2 51,246,323,839 -3.7 +10.1 53,180,700,764 + lti.6 -7.6 45,460,058,609 -15.9 -0.4 54,143,527,10 -12.5 - 8.9 -9.3 +ll .0 +2,.7 +3 .0 -7.4 -0.4 + 37.6 .5 +3n.6 ti?:~ 'tock Exchange dealings are, as we have before remarked, a very important factor in bank clearings at ew York. At times when the aggregate of clearings for the remainuer of the country exhibited an increase over the previous year, the New York total recorded a decrease solely because of lessened activity in Stock Exchange operations. This was true in 1888, in 1900, in 1902, in 1903 and 1907, and much larger los es locally than elsewhere in 1894 and some other years are imilarly accounted for. As regards 190 , of cour e, the situation is somewhat different. Transaction: in shares, as already explained, were approximately the same as in 1907 1 and dealings in bonds of all cla es-railroad and miscellaneous, State, .city and Government-were not only of greater aggregate than in the preceding year but in excess of the previous record made in 1904. We append a compilation showing the annual share dealings since and including 1 NUMBER AND VALUE OF SHARES SOLD AT NEW YORK STOCI{ EXL:HANGE. 1 : Values Aver. Stocks, Year. ,_s_h_ar_es_._ Prtce. (approxtmate) ,J Year. $ 1908 __ 197,206,346 1907 __ 196,438,824 1906 __ 284,298,010 1905 __ 263,081,156 1904 __ 187,312,065 1903 __ 161,102,101 1902 __ 188,503,403 190L_ 265,944,659 1900 __ 138,380,184 1 99 __,176,421.135 1898 __ 112,699,957 I J l ' alue.s Aver. Prue. (approxtmote) I 15,319,491,797 1897- _ 14,757,802,189 11896 __ 23,393,101,482 '1895 __ 21.295,723 ,688 1894 __ 12,061,452,399 1893 __ 11,004,083,001 1892 __ 14,218,440,083 1891 _ 20,431,960,551 1890. _ 9,249 ,2 5,109 18 9 __ 13,429 ,291.7151 88 __ 8 ,1 7,413 ,985 86.6 85 .8 94.2 87.3 69.9 73 .2 79.9 79 .0 6!l .2 7 .6 72.7 Stocks, Shares. 77,124,172 67.0 04,654,096 65.2 66,5 3,232 60.3 49,075,032 64.2 80,977, 39 60.3 85, 875,092 63 .5 69,031,689 57 .1 71.2 2,8 51 60.2 72,014,600 61.0 65,179,106 62 .5 s 4,973,553,065 3,329,969,940 3,808,33 ,604 3,094,942,769 4,550,260,916 4,874,014,262 3,812,247,419 3.977,664,193 4,059,231.891 3.539 .519,143 1 -·- .•. - - - --- - -- - - - - - - - - - A feature of 1908 ,ms the popularity of bonds in the dealing . Railroad and miscellaneous issues of a par value of $999,025,800 were traded in, a total more than double that of 1907 and exceeded only in 1904, when tran actions aggTegated 1,014¾ millions. t ate and Government bond sales, includina Japanese, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis /$15859,166,101 As has already been pointed out, the aggregate of bank clearings outside of ew York as well as for this city in 1908 was less than for the previous year or for 1906, and it is also to be stated that the different cities and sections nearly all shared in the decrease. This js quite well shown in the subjoined table, which indicates the course of bank clearings at the leading cities for December and the full twelve months of each of the last four years. BANK CLEARINGS AT LEADING CITIES FOR DECEMBER AND THE YEAR ---December--- ---Jan. 1 to Dec. 3 1 - - 1905. 1906. 1907. 1908. 1907. 1906. 1905. 1908. (000,000s omilled.) % -8 6 132,272,067,412 +4.8 145,175,7:!3,493 +10.1160,019,717,33 3 +13.9 143,909,448,441 +1.3 ll2,449,664,01 5 +3. 109,209,187,764 +6.7 11 ,02 3 ,298,74 0 +16.6 118,410,015,182 +0.5 6,070,549,6 <I +23.9 \14,047,400,783 ttm:m:m t~t~ 1 1$16757 ,215,912 Total val. Inc. S 52,996,187,156 57,993,565,112 55,343, 88,677 50,087,<!8 ,239 43,800,245,342 43,238,849, 09 41,695,lU!l,/i75 38,9 2,329,340 33,4~6.347,1H8 33,285,608,882 Aver. Prtce. Actual Value. Aver., Par Value rtce. or Quantity. Actual Value. Par Value or Quantity. TotaL_ $18775,735,420 16291,050,75286.8$17532,966,2751 15222,201,814 86.8 636,964,287 98.7c 645,353,800/ 466,165,160103.5 450,443,750 Grain ,bu . - -----1 1- - - - - - 1 I~- - - - - - - - - - - . . J - . . - - - - - - - - - - - - 196,438,824 197,206,346 St'kJShs_ l 1 Val_ $17G94,247 ,800 $15319,491,797 86.61$17006,377, 125 $14757,802,189 86.8 396,464,512 86.9 RR.bonds $999,025,800 $885,406,197 88.1 $456,116,300 $948,626110.6 $858,050 573.491109 .9 5521,820 Govt.bds.j $66,173,334 95.6 $69.196,100 $85, 123,684104.2 $81,713,500 State bds. 813,153194.2 $418,700 $455.583 200.3 $226,500 Hank stks ;:c. Cl::i~~~s. Twelve Months 1907. Twelve Months 1908. Descrtption. I $ tm •m $ gi~~a:ir~======== Boston __________ PblladelphJa______ St. Louis_________ Pittsburgh_______ San Francisco_____ Baltimore _______ Cincinnati________ Kansas City_____ _ Cleveland________ ew Orleans______ Minneapolis______ Louisville________ ~il~~~~kee-======= Providence ______ Oma.ha__________ Buffalo__________ St. Paul__________ Indianapolis _____ Denver__________ Richmond________ lllempbls ________ Seattle___________ Hartrord ________ Salt Lake City---- 5 720 571 2C3 183 152 121 114 181 67 93 98 64 ~g 33 59 36 45 38 41 30 27 41 15 29 517 493 246 203 129 104 91 123 64 96 102 37 :s :S 9 •g~~ i'.55~ 712 719 668 272 230 203 131 111 128 75 114 102 56 :r :~ 623 261 228 170 131 111 110 70 114 97 55 !~ 37 38 46 36 41 35 35 27 28 43 16 33 28 42 32 46 25 31 27 27 31 13 13 40 32 34 33 30 26 32 29 14 25 79,276 11,854 7,339 5,938 3,075 2,065 1,757 1,241 1,230 1,848 750 786 1,057 580 668 548 337 662 409 484 380 410 299 253 429 167 257 :s $ 87,182 104,676 12,088 11,047 8,335 8,135 7,687 7,161 2,973 3,166 2,641 2,744 1,998 2,134 1,445 1,473 1,310 1,362 1,332 1,649 838 897 1,020 957 991 1,158 650 645 670 712 493 562 397 390 504 568 396 445 419 485 366 399 350 408 303 322 248 249 486 489 183 184 288 292 93,822 10,142 7,655 6,929 2,890 2,506 1,835 1,290 1,205 1,198 775 963 914 602 598 430 381 443 351 343 345 328 260 273 302 162 212 Total _________ 13,568 815 Other cities____ ___ 8,784 13,524 13,798 124,039 136,256 152,046 137,154 6,755 7,874 8,920 8,233 655 761 639 Total all _______ 14,383 Outside New York_ 5,117 9,423 14,285 14,453 132,372 145,176 160,020 143,909 4,073 5,057 4,763 52,296 57,994 55,344 50,087 We have remarked further above that while in early months of the year 1908 inactivity was the feature of operations on the New York Stock Exchange, the contrary was a fact towards the close. In that respect 1908 contrasted sharply with 1907, when greatest activity centred in the early months. Space not permitting of any extended reference to that point, we would merely remark that sales in the last quarter of 1908 were not only much heavier than in the corresponding period of 1907, but slightly exceeded those m 1906. SALES OF STOCK AT THE NEW YORK STOCK EXCHANGE. -1907. 1908. I M'th.-------------------------Number I 01 Sh ares. --Par. Values. Values. Number Actual. $ 01 I Par. Shares. Actual. $ $ : : .116,594,895 1,396,403,800 1,015,764,111 22,702,760 1,948,477,925 1,854,950,930 Feb_ 9,8 39,706 833,199,900 609,986,418116,470,972 1,318,394,800 1,241,478,649 Mch_ 'l5,9 39,2§5 1,387,712,725 1,014,698,437 32 ,208,525 2,787,043,450 2,609,820,422 $ I l stqr -12,3 73,856 3,617,316,425 2,640,448,!J6fi,71,382,257 6,053,916,175 5,706,250,001 April 11,6 48,12::l 1,024,180,450 782,948,479119,235,652 1,686,695,950 1,508,967,413 May 20,9 75,022 1,855,881,050 1,470,479,816 15,827 ,245 1,346,719,475 1,204,698,417 June 9,6 52,437 857 ,496, 500 771.664 ,681\ 9,749,4la0 826,398,975 740,089,460 2d q ri42 ,2 75,582 3.737 .558,000 3,025,092.980 44.812,312 3,859,814.400 3,453,755,290 ·,tm:m:gig fi m's g4 ,6 49,438 7,354,874,425 5,665.541 !!4>< ll6194 56!-I filly _ l~.8 .'i7, 563 t ,249,522 .675 964,269,4 I 12 . 11,354 9,160,005,291 990,994 ,f\00 AUg_ 18,881.265 1.699,430,100 1,584,406,183 15,561.58311.390,644,625 1.180,470,609 Scpt.17,5 82,4991.557,670,875 1.485,649,298 12,223,54 1 1.088,393,825 902,471,817 3d qr 50,3 21.32714,506,623,650 4,034,324,962 40,596,478 13,620,258,050 3,073,937,026 V m's i::! ◄ 9 70 ,76~rll861498 .075 9,699,866,908 156791 04 713533,988,625 1223:i.942,317 Oct_ 14,2 66,901 l,302,230,3751,252,695,988 17,333,793 1,550,957,050 1,127,476,980 2' 41 ' . 4 849,293,525 617,436,014 01,072 ,137,925 778,946.878 ~~;- ~::~gtm ~:m:~77 :~gg12:~gg:m:m 1tm::~ tthq r 62,235,581 5,832, 74~ ,72i> :,,(j I 9,624 . l 9 39./\-17 .77 7 3 472 .3 88 , 50 02 ,5 2a ,85U,872 -{ear I 9720G :'146!l7694.247,800ll5<!19,49 l.797 I 964::lll 824 1700G,377.12514757.802,189 1 37 MERCANTILE FAILURES. Total Fovrlh Taira Second Clearf.ngs Reported. Ftrst At stock exchanges outside of New York, and due Yem-. Qwrun-. Quart#r. Quarter. (OOOs mnttted.) Quarter. ----1---1 to a renewal of activity in the closing months of the $ $ $ $ s r19o8 __ 17,147,346 17,811,268 19,524,685 24,792,581 79,275,880 year, we find that transactions were quite generally I 1907-_ 26,531,458 21,371,556 20,232,482 19,046,672 87,182,168 { 1906 __ 27,939,858 25,152,486 24,403,559 27,179,926 104,675,829 93,822,000 greater in 1908 than in 1907, although smaller than in New York ______ I 1905 __ 23,584,452 23,300,154 20,679,257 26,258,197 I 1904 __ 14,925,334 14,203,962 15,204,667 24,315,456 68,649,419 l1903 __ 18,431,542 17,266,076 14,933,887 15,338,833 65,970,338 1906. Boston, for example, reports total dealings r19os __ 2,667,069 2,718,484 2,788,852 2,875,397 11,049,802 last year of 13,002,235 shares and $39,828,800 bonds, 3,410,094 3,502,746 3,259,576 3,154,647 13,327,063 r907-_ 1906 __ 3,392,123 3,415,476 3,166,438 3,563,196 13,531,233 against 14,308,687 shares and $7,682,700 bonds in Total other 1905 __ 2,844,150 3,107,080 2,955,868 3,343,722 12,063,820 Middle _______ 1904 __ 2,383,860 2,452,473 2,453,529 3,023,287 10,313,194 1907 and 18,297,818 shares and $8,695,310 bonds in ll903 __ 2,639,532 2,816,282 2,579,692 2,571,117 10,606,623 r19o8 __ 1,993,691 1,985,226 1,999,174 2,386,106 8,364,197 1906. At Chicago the aggregate transactions were 11907-_ 2,619,964 2,346,523 2,173,489 2,134,607 9,274,583 833,943 shares and $15,261,000 bonds in 1908, which T-0ta.l /1906 __ 2,456,888 2,277,983 2,138,411 2,572,452 9,445,734 1905 __ 2,108,959 2,166,457 2,040,844 2,373,469 8,689,729 New Eniland_ 1904 __ 1,823,408 1,855,803 1,724.~55 2,149,955 7,553,621 compares with 817,164 shares and $4,566,100 bonds the l1903 __ 1,979,663 1,949,568 1,809,820 1,925,734 7,664,785 previous year and 1,234,537 shares and $5,858,050 rl9o8 __ 4,034,045 4,085,792 4,033,601 4,588,388 16,741,826 I 1907 __ 4,395,913 4,549,767 4,457,819 4,063,140 17,466,639 bonds in 1906. In Philadelphia 8,384,977 shares and I 1906 __ 3,978,641 3,935,899 3,844,656 4,346,612 16,105,808 {1905 __ 3,529,952 3,603,571 3,553,411 4,051,192 14,738,126 Middle West __ I 1904 __ 3,196,662 3,234,262 3,226,923 3,627,978 13,285,825 $19,739,716 bonds were traded in, against 8,57-8,805 Tota.I ll903 __ 3,204 ,523 3,289,499 3,178,494 3,399,002 13,071,518 shares and $12,099,096 bonds in 1907 and 10,680,573 938,985 1,029,500 1,123,783 3,987,028 894,760 1907 __ 1,239,478 1,218,829 1,188,632 1,016,668 4,663,607 shares and 20,360,188 bonds in 1906; and at Balti1906 __ 1,048,785 797,997 1,044,472 1,262,383 4,153,637 __ 996,156 3,473,024 889,357 836,752 750,759 more 190,024 shares and $21,784,603 bonds covered Tota.I Pacific ____ 1905 1904 __ 2,761,471 794.871 649,232 675,988 641.380 1903 __ 727,042 2,651,474 656,104 632,349 635,979 the 1908 total, comparing with 153,912 shares and r19os __ 1,249,712 1,215,742 1,282,922 1,536,626 5,285,002 $15,649,010 bonds in 1907 and 524,286 shares and I 1907-- 1,213,449 1,282,194 1,291,206 1,384,472 5,171,321 I 1906 __ 1,035,241 1,012,388 1,028,123 1,275,512 4,351,264 {1905 __ 938,956 1,151,042 3,915,084 925,623 899,463 31,688,513 bonds the preceding year. Total 843,551 1,049,224 3,517,002 842,147 782,080 other West ___ I 1904 __ ll903 __ 963,548 3,375,391 817,497 800,884 793,462 When it is stated that only 26 out of the 114 cities 1,907,325 1,693,413 1,773,524 2,194,070 7,568,332 included in our comparative record report increases, 1907 -- 2,126,158 1,955,212 1,901,694 2,107,298 8,090,352 1906 __ 1,974,196 1,790,197 1.694,366 2,291,453 7,750,212 and those as a rule very small, and that at very many ruta.l Southeru __ 1905 __ 1,699,700 1,670,575 1,597,465 2,052,865 7,020,605 1904 __ 1,762,981 1,448,075 1,412,180 1,917,290 6,540,5215 other points the losses are quite conspicuous, the 1903 __ 1,455,266 1.368,228 1,328,901 1,716,664 5,869,059 r19og __ 29,893,948 30,448 ,910 32,433,258 39,495,951 132,272,067 · generally unfavorable situation of affairs during 1908 11907 __ 41,536,514 ::i6,227 ,727 34,1103,766 32,907,726 145,175,733 __ 41.825,732 38,386,426 37,320,025 42,488,534 160,019,717 becomes clearly apparent, even though conditions the i'.,>lal all ________ j 1906 1905 __ 35,417,435 35,610,212 32,655,158 40,226,643 143,909,448 __ 1904 25,575,772 24,626,087 25,551,093 36,868,061 112,621,013 last two months were, on the surface, fairly ll903 __ 29,139,967 28,122,886 25,304,395 26,641,940 109,209,188 satisfactory. The situation month by month for (1908 __ 12,746,602 12,637,642 12,808,573 14,803,370 52,996,187 I 1907 __ 15,005,056 14,856,171 14,271,284 13,861,054 57,993 ,565 the two years for the whole country and outI 1906 __ 13,885,874 13,230,940 12,916,466 15,311,608 55,343,888 j 1905 __ 11,832,983 12,310,058 11,975,901 13,968,446 50,087,388 side of New York 1s shown in the appended com- Outside New York ___ _ 1904 __ 10,650,438 10,421,925 10,346,425 12,552,806 43,971,594 ll903 __ 10,708,425 10,856,810 10,370,508 11,303,107 43,238,850 pilation. .MONTHLY CLEARINGS. Canadian bank clearings, in line with those for the States, were less in 1908 than in 1907, but exUnited Clearf.ngs Outs-Ide New Yor.t. Cleartngs, Total All. Momh.1- - - - - - - - - - - - 1 - - - - - - - - - - - an increase over 1906. The aggregate exhibited 1907. 1907. 1908. 1908. % % changes for the thirteen cities of the Dominion in $ $ $ $ Jan -- 11,359,308,232 15,054,655,406 -24.5 4,609,033,277 5,416,984,522 -14.9 Feb -- 8,756,701,857 11,823,958,740 -25.9 3,860,671,029 4,492,448,964 -14.1 which there are clearing-house organizations were Mch _ 9,777,937,943 14,657,900,282 -33.3 4,276.897,604 5,095,622,479 -16 .1 $4,142,194,346, against $4,342,678,161 in 1907, or a 1st qr_ 29,893,948,032 41,536,514,428 -28 0 12,746,601,908 15,005,055,965 -15.1 April_ 9,764,431,744 12,661,631,615 -22.8 4,276,857.436 4,994,103,001 -14.4 decrease of 4.2%, and compared with 1906 the gain May __ 10.858,707,179 12,406,704,867 -12.5 4,188,873,348 5,071,850.921-17.4 June _ 9,825,771,157 11.159,390,575 -12.0 4,171.911,240 4,790,217,610 -12.9 reached 4.9%. All but four of the cities record losses, 2d qu_ 30,448.910,080 36,227,727,057 -15.9 12,637,642,024 14,856 .171.532 -15.0 but only at Hamilton and London were the percentages o mos_ ti0,342,858,11 2 77,764,241.485 -22.4 25,384,243,932 29,861.227,497 -15.0 The Canadian clearings July __ 11,071,981,347 12,372,028,084 -10.5 4 ,453,893.5i>8 65,0fl0,2tl5,d79 -12.0 of decline at all conspicuous. Aug __ 10,248,695,249 11,558,715,889 -11.3 4,023,581.641 4,668,225,399 -13.8 Sept __ 11,112,581,447 10,573,022,063 +5.0 4,330,097,831 4,542,793,316 -5.o by quarters for the last six years are given below. r. _ r••-- 2d qr_ 32,433,258,043 34,503,766,036 -6.0 12,808,573,061 14,271,284,394 -10.3 ·9 mos Oct __ Nov __ Dec __ 92,776,116,155 12,136,130,544 12,976,376,842 14,383,443,871 112268,007,521-17.438,191,816,993 13.,804,896,282 -12.1 4,901,858,771 9,679,735,498 +34.1 4,785,354,040 9,423,094,192 +52.6 5,117,157,352 44,132,511,891-13.5 5,608,~92,641 - 12.6 4,178,993,335 +14.5 4,073,167,245 +25.6 4th qr. 39,495,951,257 32,907,725,972 +20.0 14,804,370,163 13 ,861,053,221 +6.8 Year _ 132272,067,412 145175,733,493 -8.9 52,996,187,156 57,993,565,112 -8.6 It will be noted in the foregoing that down to the dose of October there had been but one instance where a gain was recorded, and that in the September total for the whole country, which was due to a spurt of .activity on the ew York Stock Exchange. In ovember and December quite important gains were recorded, which served to cut down materially the otherwise heavy loss. Carrying the comparison back 1906 there is hardly a month in which the 1908 figures do not exhibit more important declines than are shown for 1907. As egards the several groups into which we have arranged the various cities, there is very little of interest to be said except that the best showing 1s made in the Middle West, where the loss in 1908 from 1907 was only 4.2%, and in the "Other West," where a gain of 2.2 % is to be recorded. The table of clearings by groups for each quarter of the last six years is now presented. to https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Clearinos Heported. '1 Ftrst 81JC(Jnd _ _<_o_oo_s_o_m._tu_ed_._>_ _ ,__Q_u_a,_ter_. Quarter. s s Thtrd Quarter. s Fourth Total s $ ~~ Canada-1908 _________ _ 952,520 1,014,090 1,272,510 4,142,194 903,074 1907 __________ _ 1,004,009 1,070,924 1,087,591 1,162,154 4,324,678 942,762 1,171,516 3,949,797 927,913 907,606 1906_ - - - - - - - - - 959,557 3,330,122 826,346 795,590 748,629 1905 __ - - - - - - -- 836,719 2,743,085 678,171 647,123 1904 ____ --- --- 581,072 1903 _________ - _ 737,073 2,692,821 629,239 696,093 630,416 FAILURES IN 1908. Commercial failures in the United States during 1908 were not only greater in number than in any former year, and very decidedly so in most instances, but the aggregate of liabilities was in excess of any twelvemonth period since 1896. It 1s to be said, however, that in 1907 the situation became worse as the year progressed, liabilities increasing from quarter to quarter until in the final di vision a total exceeded but once by any corresponding figure was recorded. On the other hand, the trend in 1908 was in the opposite direction, the closing quarter furnishing the smallest result of the year. There was likewise quite a steady diminution in the volume of liabilities from period to period in 1908, which was looked upon as an encouraging feature in an otherwise unsatisfactory situation. With that development in mind, the further we get away from MERCANTILE FAILURES. 38 October 1907 and its untoward events, the more we become convinced that commercial affairs are steadily, though slowly, moving towards what may be termed a normal condition and a materially reduced mercantile mortality. To enumerate the causes responsible for the large volume of failures in 1908 would be to re-state what we have said monthly, or to epitomize what we say in our "Retrospect of 1908" on pages 11 to 32 of this publication. According to the compilations of Messrs. R. G. Dun & Co., the number of failures in 1908 was 15,690, against only 11,725 in 1907, and the highest totals heretofore recorded were 15,088 in 1896 and 15,242 in 1893. Aggregate liabilities for 1908 at $222,315,684 were, however, not very largely in excess of the preceding year, but greatly exceeded the totals for most earlier years. At the same time the latest aggregate was surpassed in 1896, 1893 (with its record liabilities of 346 millions) 1884, 1878, 1873, and as far back as 1857, when a 291 million total was reported. But, whjle the 1908 aggregate of liabilities was much above the average of former years, the average liability per failure was less than in 1907, and only a little greater than the mean of the 17 years 1891 to 1907 inclusive. Furthermore, it was much below the average for the full period Dun's record covers-1857 to 1908. It is thus evident that there was a large preponderance of disasters to small merchants or manufacturers in the late year, and that consequently the effect was very far-reaching. We have stated above thatincontradistinctionto1907 the failures during 1908 were, as regards amount of liabilities reported, a quite constantly diminishing affair. To indicate that clearly we append the following: FAILURES BY QUARTERS. ----1908. ----1907.---Averaoe Averaoe No. Ltab1.ltttes. Ltabttity. No . Ltabt.littes. Ltab1.l1ty. 1st quarter ______ 4,909 $75,706,191 $15,422 3,136 $32,075,591 $10,228 2nd '' ______ 3,800 48,668,642 12,808 2,471 37.493,071 15,173 2,483 46,467,686 18,714 3rd " ------ 3,457 55,302,690 15,997 4th " ______ 3 ,524 42,638,161 12,099 3,635 81,348,877 22,379 Total -- ______ 15,690 $222,315,684 $14,170 11,725 $197,385,235 $16,834 Referring to the classified statement of failures, we find that disasters were greatest in the manufacturing branches, the liabiHties of that class aggregating $96,829,015, as compared with $106,640,444 in 1907 and only $45,675,362 in 1906. The obligations of "traders" who were forced to the wall totaled $91,.661, 957, against 58,698,148 in the previous year and $48,186,136 in 1906, and liabHities in other lines aggregated $33,824,712, against $32,046,633 and suspension of banking institutions is fully recognized, but it is pointed out that no such disastrous consequences have followed in its wake as attended the failures of 1893. Canadian failures returns for 1908 also reflected improving conditions as the year progressed. For the full twelve months the disasters aggregated 1,640 in number and $14,931,790 in amount of liabilities, comparing with 1,278 for $13,221,259 in 1907 and 1,184 for $9,085,773 in 1906. The present totals , both as regards number and· amount, were exceeded in each year 1894 to 1897, inclusive. Debts in manufacturing lines aggregated $5,976,498, against $6,667,452 in 1907 and $3,482,511 in 1906; trading liabilities were $8,242,436 in 1908, against $5,756,651 and $5,145,142 respectively in the two preceding years, and other bankruptcies covered obligations of $712,856 in 1908, comparing with $797,156 in 1907 and $458,120 in 1906. FAILURES BY BRANCHES OF BUSINESS. The feature of the statement of failures by branches of business as prepared by Messrs. R. G. Dun & Co. that particularly attracts attention is the large increase exhibited, as compared with previous years, in the liabilities of firms in the trading division. While in most branches of the manufacturing industry liabilities were less in 1908 than in 1907, the contrary was the case among traders, with the showing particularly adverse in "groceries, meat and fish." Calendar Year. From Dun's Revtew. 1908. No. Ltabtltttes. ---- 1907. No. Liabtlties. Manufacturers . $ 62 Iron, foundries and nails 2,265,673 9,830,888 61 Machinery and tools ____ 272 8,724,246 188 9,093,837 Wool'ns,crpts.&knlt gds 30 1,658,784 24 1,562,168 Cottons, lace & hosiery_ 26 728,594 29 3,708,659 Lumber,carp't'rs&coop_ 522 17,748,169 409 23,623,376 Clothing and mllllnery __ 552 5,376,196 415 7,027,833 Ha.ts, gloves and furs ___ 919,029 1,1 1,345 70 54 Chemicals and drugs ___ 40 724,861 27 462,248} Paints and oils ________ 31 2,918,321 384,269 10 Printing and engra.vtng_ 5,183,040 1,709,240 233 163 MUiing and bakers _____ 308 10,971,875 217 2,070,477 82 Leather, shoes & harness 1,094,746 2,991,578 . 72 Liquors and tobacco ___ 135 2,126,773 1 102 2,462,694 Glass,ea.rthenw .& bricks 148 4,072,583 102 3,449,735 All other _____________ 1,316 30,419,293 1,040 28,981.929 1906. Liabtltttes. No. $ 46 132 16 6 291 397 36 47 2,842;378 6,142,741 727,449 158,000 5,411,163 3,989,378 666,627 1,346,297 • 1,786,225 123 1,087,642 150 1,808.225 60 871,085 97 3,333,862 93 996 15,504,290 Total manufacturing_ 3,825 96,829,015 2,913 106,640,444 2,490 45,675,362 Trader11. General stores _________ Groceries, meat and fish Hotels and restaurants_ Liquors and tobacco___ Clothing and furnlshing_ Dry goods and carpets__ Shoes, rubbers & trunks Furniture and crockery_ Hardware.stoves & tools Chemicals and drugs___ Paints and oils________ Jewelry and clocks_____ Books and papers______ Hats, furs and gloves___ All other _____________ 1 ,849 13,808,725 1,367 9,426,643 1,306 9,055,591 2,708 16,852,702 2,312 8,083,231 2,071 6,754,244 610 4,608,874 430 4,662,009 448 3,226,690 1,0 9 5,710,394 , 813 3,558,005 890 3,360,191 1 ,031 8 ,846,786 ' 691 6,331,513 670 4,999,677 667 7,615,081 473 5,429,511 429 4,751.664 409 2,947,443 1,495 ,560 254 1,419,020 249 313 3,264,891 220 2,056,531 169 1,175,933 398 4,131,207 318 2,76 ,873 285 2,942,269 442 2,386,954 304 2,056,333} 310 1,700,885 63 846,553 48 166,0 8 314 4,442,987 182 1,698,258 158 1,416,011 87 673,243 70 350,109 41 314,441 49 580,160 30 333,241 47 549,315 1,243 14,929,958 770 6,443,665_ 1 907 10,358,783 Tota.I trading _______ 11,272 91,661,957 ! 8,419 58,698,148 7,843 48.186,136 Brokers and transporters 591 33 ,824,712 ! 393 32,046,633 349 25,340,017_ $25,040,017 respectively. Financial bankruptcies in 1908, although much greater in number than in 1907, covered a decidedly smaller volume of liabilities, but in 1906 disasters of this character were comparatively unimportant as contrasted with either of Total commerclaL ___ \15,690 222,315,684 :11,725 197,385,225 119,201,515 these two later years. It is, perhaps, incorrect to Banking______________ 180 123,126,956 1 132 233,325,972 10,682 58 18,805,380 speak of these embarrassments of financial institu- Note.-Jron, woolens and cottons Include all the branches or those manufactures; Includes vehicles, shlpbu11d1ng, hardware, fixtures and Implements; tions as failures, as in most cases suspension, especially machinery lumber Includes saw, planing, sash and door mills and furniture; clothing Includes chemicals Include chemical rertULzers; printing Includes books and in the last two years, was brought about through furnlshings; maps; leather and shoes Include saddlery, trunks and rubber goods; liquors Include wines. brewers and bottlers; glass Includes pottery. lime, cement, quarry and causes other than unsound condition and with the stone; general stores Include department stores and Installments; groceries Include creamery, teas and coffees; hotels Include lodging houses and caterers; dry goods cause removed resumption followed. But as the Include curtains and draperies; rurniture Includes glass and glassware; hardware Includes Implements and utensils: and jewelry Includes watches and optical goods, failures, suspensions, or whatever they should be Brokers Include agents, commission men, real estate agents, Insurance, storage, correctly called, are a part of the year's history, we express, harbor lines, &c . The following is a record of the yearly aggregate of failinclude them in the table below as a matter of record. ures back to 1857: COMMERCIA L FAILURES. --Number-- ------Ltabt.littes - - - - 1908. 1907. 1906. 1908. 1907. 1906. Manutacturlng_ 3,827 2,913 2,490 $96,829,015 $106,640,444 $45,675,362 Trading _______ ll,272 8,419 7,843 91,661,957 58,698,148 48,186,136 Other __ ______ 591 393 349 33,824,712 32,046,633 25,340,017 Total _______ 15,690 11,725 10,682 Banking_______ 180 132 58 $222,315,684 123,126,956 $197 ,385,225 233,325,972 $119,201,515 18,805,380 Total _______ 15.870 11,857 10,740 $345,442,640 $430,711,197 5138,006,895 As a part of the year's record R. G. Dun & Co. have prepared an article exclusively devoted to bank suspensions in which that branch of the subject has been quite thoroughly discussed. The seriousness of the 1907 crisis that was responsible for the very extensive https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Year. No. 1908 __ 15,690 1907 __ 11,725 1906 __ 10,682 1905 __ 11 ,520 1904 __ 12,199 1903 __ 12,069 1902 __ 11,615 190L_ll,002 1900 __ 10,774 1899 __ 9,337 1898 __ }2,186 1897-_13,351 1896 __ 15,088 1895 __ 13,197 1894 __ 13,885 1893 __ 15,242 1892 __ 10,344 1891- _12,273 YEARLY AGGREGATE OF FAILURES. Liabtlities. Year. No. Liall'lliltes. Year. No. $222,315,684 1890 __ 10,907 $189,856,964 1873 __ 5,183 197,385,225 1889 __ 10,882 148. 784,357 1872 __ 4,069 119,201,515 1888 __ 10,679 123,829,973 187L_ 2,915 102,676,172 1887 __ 9,634 167,560,944 1870 __ 3,546 144,202,311 1886 __ 9,834 114,644,119 1869 __ 2,799 155,444,1 5 1885 __ 10,637 124,220,321 1868 __ 2,608 117,476,769 1884 __ 10,968 226,343,427 1867 __ 2,780 113,092,376 1883 __ 9,184 172,874,172 1866 __ 1.505 138,495,673 1882 __ 6,738 101,547,564 1865__ 530 90,879,889 188L_ 5,582 81,155,932 1864__ 520 130,662,899 1880 __ 4,735 65,752,000 1863__ 495 154,332,071 1879 __ 6,658 98,149,053 1862 __ 1,652 226,096,834 1878 __ 10,478 234,383,132 186L_ 6,993 173,196,000 1877 __ 8,872 190,669,936 1860 __ 3,676 172,992,856 1876 __ 9,092 191,117,786 1859 __ 3,913 346,779,939 1875 __ 7,740 201,060,333 1858 __ 4,225 114,044,167 1874 __ 5,830 155,239,000 1857 __ 4,932 189,868,638 Liabtliltes. $22 ,499,900 121,056,000 85,252,000 88,242,000 75,054,054 63,694,000 96,666,000 53,783,000 17,625,000 8,579,000 7,899,900 23,049,000 207,210,000 79,807,000 64,394,000 95.749,000 291.750,000 39 MERCANTILE FAILURES. MERCANTILE FAILURES IN THE UNITED STA.TES AND CANADA IN 1908. PREPARED BY MESSRS. R. G. DUN & CO. COMMERCIAL FAILURES. CLASSIFIED FAILURES 1908. Total 1908. Total 1907. States. No . New_____________ England- _ Ma.ine New Hampshire ____ _ Vermont ___________ _ Massa.ch usetts _____ _ Connectcut _______ _ Rhode Island _______ _ 168 66 38 840 275 112 New England ______ _ l,499 ".. " 1,318 1907 1906 ------______ _ 1,322 1905 ______ _ 1,522 Assets. Liabi it'ie.~. $ $ No. Liabilities. 1907 ______ _ 2,905 1906 ______ _ 2,284 1905 ______ _ 2,356 South- Ma.ryla.nd Dela.ware___________ District of Columbia._ Virginia.____________ 266 24 58 311 17,519 4,408 47 3 3 2,098-,548 17,251 4,601 4,670,887 3,154,485 1,318 13,977,425 16,604,394 --4,987,617 11,522,240 --4,835,574 12,030,061 --- 16,604,394 ---------------- 442 380 414 483 4,836,171 9,836,769 4,591,795 5 ,041,264 998 905 854 985 6,175,987 6,179,740 5,402,917 5,516,878 59 33 54 54 2,142,327 587,885 1,527,528 1,471,919 826 77 433 30,498,615 2,466,112 7,374,963 1,121 105 1,089 16,192,018 941,808 8,161,203 145 7 79 18,461,558 396,601 1,684,537 1,336 40,339,690 1,056 59,540,976 803 18,885,502 832 17,695,709 2,315 1,684 1,369 1,425 25,295,029 17,016,273 12,312,514 11,672,280 231 20,542,696 165 26,628,973 112 6,233,678 99 2,083,942 147 22 37 259 1,959,319 66,270 536,166 1,870,134 2,790,057 38,925 783,669 2,348,359 4,117,020 73,417 926,199 3,204,868 ------- ---------------- 196 38 45 166 2,837,418 245,710 1,270,287 1,109,888 1:i 1.m:m 103 2 17 41 ig5 1,903,107 7,147 285,513 1,271,172 m:m m 1·m:m 1907 _______ 1906 _______ 1905 _______ 2,969 2,125 1,879 2,118 33,205,375 25,232,190 11,540,705 11,112,278 38,618,843 26,298,791 17,715,886 16,942,682 2,125 ------- 26,298,791 ---------------- 481 319 2 44 275 Arka.nsa.s ___________ Texas______________ Missouri____________ 490 421 705 1,732,228 2,301,672 2,549,055 291 330 4 68 1,259,032 2,595,108 3,396,577 73 32 159 94 6,409 331,215 1,017,320 Southwest __ ________ 1,616 1,089 1,071 1,173 6,582,955 10,893,648 1,089 4,300,011 7,250,717 --4,394,003 6,927,953 --4,779,035 7,493,355 --- 7,250,717 ---------------- 543 291 188 835 130 7,683,281 5,039,019 3,451,641 8,832,684 1,839,728 - - - -1- - - - - - 1- - - - - 1 2,954,377 · 3,743,019 4,196,252 Ohio --------------790 10,640,281 11,805,184 Indiana. ____________ 366 4,257,352 5,215,253 Michigan___________ 255 3,183,559 4,529,524 Illinois------------- 1,142 10,465,251 18,451,519 Wisconsin__________ 186 1,477,994 2,017,173 Cent;,a.l ____________ " " 1907 _______ 1906 _______ 1905 _______ West- _________ _ Minnesota Iowa. Nebraska. ___________ . Kansas · ____________ ' Oklahoma. _________ _ Montana. __________ _ North Dakota. ______ _ South Dakota.. __ :. __ _ Colorado ___._______ _ Wyoming __________ _ New Mexico ________ _ 30,062~534 2 29,663 25 102,912,687 2f 3,465~isi 47 106,377,868 28 132,806,812 6 10,694,768 18 8,448,551 16 254,594 3 1,172,950 4 11 104,520 63,162 303,000 2 37,370 3 1 4 5 1 5 1 4 5 105,014 62,828 89,000 1,295,701 34 18 15 11 2,792,863 7,817,995 1,766,432 3,112,000 4 4 85,000 1,124,541 530,000 i1 731,435 1,04 9,028 2,288,110 1,617,637 1,147,219 2,994,952 1,4 83,921 1,489,572 2 7 3 4,000 40,458 1,619,463 17,000 25,070 5,003 1,231,000 210,500 15,511,111 2,421 13,133,583 1,748 5,835,835 1,602 5,870,121 1,801 19,229,962 10,594,182 8,811,390 10,662,710 67 58 33 42 3,877,770 2,211,026 3,068,661 409,851 405 379 510 1,960,168 3,34 1,833 2,998,235 12 10 36 47,800 69,971 180,697 264 135 128 96 2,294 ,944 1,294 1,948,438 927 1,488,079 943 1,506,860 1,055 8,300,236 5,150,339 5,113,875 5,888,173 58 27 20 22 298,468 151,940 325,999 98,322 264 91 50 318 41 5,838,481 3,461,652 1,410,823 5,957,500 931,447 503 265 195 776 139 3,503,631 1,652,663 1,407,612 10,388,419 1,012,260 23 10 10 48 6 2,463,072 100,938 1,711,089 2,105,600 73,466 25 6 6 3 7,989,180 64,800 50,000 2,315,768 236,824 764 17,599,903 1,878 592 17,053,829 1,339 539 11,517,546 1,330 562 10,838,553 1,323 17,964 ,585 8,177,553 7,742, 4 23 8,071,442 97 56 88 64 6,454,165 1,614,971 13,816,433 1,931,670 42 21 16 27 10,656,572 3,765,293 5 ,240,900 5,802,604 7 2 118,446 2,000 2,418 99,643 8 5 254,942 195,000 1 16 5 378~000 3 4 ,400 30,024,437 22,285,630 18,501,260 12,967,738 42,018,653 26,846,353 33,076,402 20,841,665 1,987 ------- 26,846,353 ---------------- 249 252 54 316 194 129 51 37 95 3 22 16,406,717 877,700 230,604 995,375 847,972 375,802 333,239 171,535 1,101,786 25,000 86,329 11,219,722 1,324,300 350,668 1,699,634 1,043,508 496,995 414,266 250,960 1,578,731 34,000 154,687 236 225 64 1,545,668 1,067,100 786,178 979,028 590,905 603,174 334,199 268,855 570,392 21,500 39,400 62 45 8 72 5 14 4 1 8 9,774,111 388,600 44,978 564,550 10,900 69,160 33,959 1,043 1,070,136 180 205 45 228 189 112 47 36 87 3 21 1,326,665 933,700 303,272 1,035,441 1,032,608 423,435 380,.307 24!},917 508,595 34,000 152,687 7,021,105 219 167 169 205 11,957,437 1,578,043 1,755,366 ~.389,091 1,153 1,018 1,102 1,081 6,380,627 4,858,709 5,699,146 5,919,871 4 7 8 1 103 53 144 1 48,250 20,900 638,075 9,000 2,287,805 366,993 914,736 4,000 37 72 58 16 252 146 631 1 419,347 379,702 294,524 106,891 1,405,791 917,708 4,771,568 20,000 321 264 193 273 4,289,759 3,548,806 1,601,239 1,911,031 1,213 798 663 805 8,315,531 6,361,352 3,103,871 4,023,149 232 81 125 35 44 90 3 7 1907 ______ _ 1,212 1906 ______ _ 1,299 1905 ______ _ 1,303 4,388,365 4,714,756 4,912,658 7,021,105 7,773,936 7,757,492 ------- '"" .... 1907 ______ _ 1,089 1906 ______ _ 870 1905 ______ _ 1,099 5,771,404 2,690,907 3,502,988 10,177,643 4,753,404 6,158,986 Total United States __ 15,690 146,199,325 222,315,684 " " " ! 72 177 363 249 126 145 313 211 2,739 1,987 1,957 1,949 PacificNeva.da. ___________ _ 467,597 41 293,068 29 240,654 Utah. _____________ _ 406,602 42 348,323 80 294,053 Ida.ho ____________ - _ 932,599 66 841,134 57 232,360 Arizona. ___________ _ 115,891 15 152,400 17 85,882 Washington ________ _ 3,837,101 286 2,863,045 377 1,733,915 Oregon ____ ________ _ 1,328,038 205 1,040,949 133 1,175,557 California. __________ _ 5,773,841 621 4,922,804 795 2,682,672 2 17,000 24,000 6 242,500 Ala.ska.------------◄ -1 1 -1 -1 - - - - 11 Pacific ____________ _ 1,583 6,988,673 12,885,669 1,089 10,177,643 " " " ______ 2,255,129 2,832,332 1,192,029 97,123 326,091 2,407,070 1,622,185 2 1 7 7 3 2 30,000 ----1----- 2 -·--1- - - - 10 1,739,541 19 28,052,226 8 585,000 4 750,000 2 - - -1- - - - - -1- - - - - 1- - - 1- - - - - - 11- - -1- - - - -1- - -1- - - - -·I ---- - - - - - - - - 1 1 - - - - - -----1 West. _____________ _ ----1------1 1,402 21,452,059 18,566,971 1,212 " " " $ 4 2 62,580,620 103,186,222 19,781,074 37,431,694 15,715,819 31,451,931 Liabilities. $ 745,397 224,301 97,038 3,743,197 921,821 444,233 42 65 23 10 12 60 40 Central- $ Bankino. No. 141 50 31 512 188 76 577,865 976,493 2,682,456 6,761,807 1,655,355 1,259,701 2,092,117 1,982,655 1907 _______ 1906 ________ 1905 _______ Liabilities. 298,864 68,974 19,691 3,231,913 883 774 332,955 76 135 265 250 103 116 307 191 " " " No. 23 14 7 281 84 33 735,435 3,344,615 6,739,905 2,826,666 1,269,412 3,326,046 5,121,991 3,322,257 Southwest- Other Commercial. Liabilities . 1,531,136 257,954 1,748,142 7,519.339 4,255,065 1,292,758 1,061,780 297,683 116,729 9,073,658 1,822,846 781,789 651,141 3,987,501 7,301,075 2,358,202 1,002,765 2,047,567 4,060,712 3,041,132 " " " No. $ 78 226 435 275 138 159 380 254 South ______________ Tradino. Liabilities. 178 62 41 694 226 117 491,454 129,116 52,132 2,925,893 719,859 352,433 m ~:m:iii tm:m ~~f~~f;a:::::: Woe:tth South Carolina.______ Florida. Georgia. ____________ Ala.ha.ma.___________ Mississippi____ ______ Louisiana._____ ______ Tennessee __________ Kentucky __________ No. $ MiddleNew York _________ _ 2,092 30,282,523 65,152,191 1,553 85,145,204 New Jersey ________ _ 189 2,182,470 3,804,521 129 2,898,482 Pennsylvania. ______ _ 1,601 10,809,946 17,220,703 1,223 15,142,536 Middle ____________ _ 3,882 43,274,939 86,177,415 2,905 103,186,222 " " " M anufacturiho. 1907 _______ 11,725 138,535,645 197,385,225 1906 _______ 10,682 66,610,322 119,201,515 1905 _______ 11,520 57,826,090 102,676,172 ------- ----- ----------- --- 197,385,225 I 3,287 96,829,015 11,272 91,661,957 2,913 106,640,444 8,419 58,698,148 2,490 45,675,362 7,843 48,186,136 2,726 44,252 ,629 8,475 51,754,503 4 40~000 2,000 30 27 28 17 228,907 584,353 319,424 448,530 ----1----25 23 11 15 867,942 8,313,335 470,280 2,071,337 2 243,839 6,000 1 1 143,505 43,337 87,537 5 3 6 168,000 280,331 - - -1- - - - -1 49 27 14 21 280,379 267,485 48,294 224,806 591 393 349 319 33,824,712 32,046,633 25,340,017 6,669,040 18 692,170 19 22,507,777 2 48,000 1 13,000 180 132 58 78 123,126,956 233,325,972 18,805,380 20,227,155 CANADIAN FAILURES IN 1908. • Total Commercial. Provinces. No. Assets. Liabilities. Ontario ______________________________ 609 $4,614,783 $5,265,283 Quebec __________________ - - - - - -- - - - - 4,449,772 6,550,569 652 British Columbia. ____________________ - _ 232,219 166,870 16 170,278 432,309 67 Nova. Scotia. ________ - - - _ - - - - - - - - - - - - - Manitoba.. ______________ - __ - _ - - - - - - - - 1,046,600 1,074,869 109 215,300 107,815 42 N ew Brunswick. ______________________ p rince Edward Island _____________ - - _ - 18,800 87,900 6 1,367,846 1,138,690 139 Al berta. _____________________ - - -- - - - - Tota.I 1908 - _ - - - - - - - - - - - 1,640 $12,008,113 $14,931,790 1907 _____________ __________________________ .. .... .. ...... . .... .... 1,278 1906 _______ - _ - - - - - - - - - - - - - - - - - 1,184 1905________ ---- -- ___________________ -- ---- -- - -- - -- -- - - - 1,347 1904 1903 __________________________ 1,246 978 1,101 1,341 1900 _________ _______ __ - ____ - _ - 1,355 1899 __________________________ 1,287 1898 ___________________ · ______ 1,300 1897 ____ - _ - - - - - - - - - - - - - - - - - - - - 1,809 1896. _ --- -- ---- --- - -- -- -- ----- 2,118 1895 - ----- ----- - -- -- ---- --- ---- -- 1,891 1894 __ ________________ - ___ 1,856 mr=====" ~================== https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 9,443,227 6,499,052 6,822,005 8,555,875 4,872,422 7,772,418 7,686,823 8,202,898 7,674,673 7,692,094 10,574,529 12,656,837 11,500,242 13,510,056 13,221,259 9,085,773 9,854,659 11,394,117 7,552,724 10,934,777 10,811,671 11,613,208 10,658,675 9,821,323 14,157,498 17,169,683 15,802,989 17,616,215 M anufacturino. No. ILia><•~•"· 194 $2,826,976 158 2,230,075 3 43,350 7 50,774 25 451,169 10 106,650 Tradino. No. -27 -- 267,504 392 $2,333,935 482 3,754,010 11 123,520 60 381,535 80 598,200 31 107,650 6 87,900 109 855,686 426 393 293 289 307 227 209 289 308 318 303 459 590 441 494 $5,976,498 6,667,452 3,482,511 3,129,262 4,136,908 3,043,248 4,247,723 3,595,095 3,201,665 4,594,153 2,229,083 3,659,135 5,692,977 5,872,502 5,898,385 1,171 $8,242,436 847 5,756,651 863 5,145,142 1,039 6,552,821 914 6,577,788 725 4,243,543 874 6,221,017 1,029 6,845,329 1,010 7,252,340 950 5,953,128 964 7,412,240 1,315 9,931,806 1,503 11,381,482 1,439 9,788,932 1,345 11,436,258 ------ Other Commercial. Bankino. - - - ------- -------- Liabilities. No. Liabilities. 23 12 $104,372 566,484 --- ------ - -- 4 1 ------ 25,500 1,000 --3 ------ 43 38 28 19 25 26 18 23 37 19 33 35 25 11 17 $712,856 797,156 458,120 172,576 679,421 265,933 466,037 371,247 1,159,203 111,384 180,000 566,557 95,224 141,555 281,572 15,500 No. Liabilities. --2- --- - -- --- -- 2 -----5 2 6 6 1 6 3 5 5 3 7 6 $2. 13-7~224 ------------------------------- $2,137,224 --------- -- 3,672,268 30,749 2,199,225 269,000 600 1,386,971 2,348,000 512,307 154,000 212,000 613,000 876,814 MONEY MARKET AND NEW YORK CITY BANKS. MONEY MARKET AT NEW YORK-RATES IN 1906. TIME LOANS. CALL LOANS. At At Stock Exchange. Banks& Tr. Cos. 1906. WEEK Ending- Range. Av'ge . Min'm. -- - 5 ____ 4 -60 January 25 6 12 ____ 3 -8 6 G 19 ____ 3 -6½ 4 4½ 26 __ __ 3½-4½ 4 4 February 2 ____ 2½-5 3¾ 3¾ 4 3 9_ - -- 2½-4½ 16 ____ 2 -5½ 4¾ 4 23 __ -- 2 -8 3 4¾ 2 ____ 3 -7 March 3 5 9 ____ 3 -6 3 5¼ 16 ____ 3 -9 4 4½ 23 ____ 3 -5½ 4¾ 3½ 30 ____ 3½-8 4 5 6 ____ 5¾-30 April 15 6 13 __ -- 2 -25 15 6 20 ___ _ 2½-6½ 4 4 27 ____ 3 -5 ¾ 4 4 4 ____ 3 -12 May 6 5 ll__ - - 2¾-5 4 3 3 3¼ 1~ - --- 2½-4 25 __ __ 2 -5 3 3½ June 1½-5 4 3 L_ - 8 ____ 2 -4 2½ 3¼ 15- __ 2½-5 3 2½ 22 ____ 2 -4 3 3¼ 29 __ -- 2 -6 3 3½ 6 ____ 2 -8 July 2 5 13 ____ 2 -3¾ 2 3 20 ____ l½-3 2 2½ 27 ____ 2 -2½ 2 ½ 2 3 ____ 2 -3½ 2¾ Augmt 2 lQ __ __ 2 -5 3¾ 2¾ 17 ____ 2 -4¾ 3½ 2½ 24 __ __ 3 -6 5 3½ 3L __ _ 3½-12 6 3½ September 7 ____ 2 -40 6 20 14 ____ 2½-12 3 6 .½ 21_ ___ 2 -10 6 3 28 ____ 3 -7 3 5 5 ____ 3 -9 October 4 5½ 12 ____ 3 -4½ 3¾ 3 19 __ -- 3 -7 5 3 26 ___ _ 2 -7 3 5 November 2 ____ 3 -9 3 6½ 9 ____ 6 -15 6 8 16 ____ 2½-20 3 8 23 __ -- 4 -12 4 8 4 6 D ec ember 7 ____ 2 -36 18 6 14 ___ _ 4 -28 12 4 2L ___ 2 -29 20 6 28 ____ 3 -18 6 3 Note.-Where quotations for time loans --- 30 .. ··13¾-27 90 days. 60 days. 30 days. COMMERC'L Four Five Six Seven Months. J!onths. Months. Months . DoubleNames. PAPER. 1906 Single-Names . Choice Prine Good 60 to 90 4 to 6 4 to 6 Daus. Months. Months. --------------- --- --Range. Range. Range. Range. Range. Range. Range --- --------- --- ------ --- --6 5½-6 8 -8½ 6 -7½ 5¾-6 5½-5¾ 5.1,~-5¾ 5½-5¾ 5 -,5½ 5½ 5 -5¾ 5 -5½ q -5 ½ 5½-6 5½ 5½ 5½ 5¾ -4%' 4¾-5 5 5 -5 ½ 5½-6 4_ ¾ 5 4¾ 4½ 4½-4¾ 4½-4¾ 4½-4¾ 4¾-5¾ 5 -5½ 5½-6 4½ 4½-5 4½ 4½-4¾ 4½-4¾ 4½-4¾ 4½-4¾ 4¾-5¾ 5½-6 4¾ 4¾-5¼ 5½-6 4½ 4¾ 4¾ 4¾ -- 4½-5 5 -5 ¾ 5½-6 5¾-5½ 5¾-5½ 5 5½ 5½ -- 5 5¾ -5¾ 5 -5¾ 5 -5½ 5 -5¾ 5 -5¼ 5 - 5½ 5½-6 -- 55 -5¾ -5½ 5¼-5%'. 6 5½-5¾ 5¾-5½ 5>(-5½ 5¼-5½ -.... 5½-6 5 -5 ½ 5¾-5¾ 6 5¾-5½ 5¾-5½ 5¾-5½ 5½ 5½ WEEK Ending- ___ _January 5 12 19 26 ====February 2 9 - -- 16 -- -23 -- - ____ March 2 9 ---16 6 5 -5¾ 5 -,5¾ 5 -5¾ 5 5 5 -5½ 5¾-5¾ - - -23 5 -5 ½ 5 -5½ 6 5¼-5½ 5¾-5½ 5½ 5¼' 5¼ 5¾ -- -6 30 4¾-5 4¾-5 4¾-5 4¾-5 4¾-5 5¾-5½ 5¾-5}~ -____ - - - April 6 6 5½-6 5 -6 5 -6 5 -5½ 5 -5½ 5 -5½ 5!/4'-5 ½ 5¾-5 ½ 13 5½-6 6 -6 ½ - - - 5¾-6 5¾-6 5½-6 8 5¾-7 ½ 5¾-6½ 5¾-6 20 5 5 -5½ 5 -5¾ 5 -5½ !i -5½ 5 -5½ 5 -5½ 4¾-5½ 4 ¾ - 5½ 15 -6 - - -6 27 5½-6 5½-6 5½-6. 5½-6 5 1i-5¾ 5¾-5 ¾ 5½-6 4 ,5!1-6 5½-6 5½-6 5½-6 5 11-6 5½-6 5½-6 6 == ==May 11 6 4¾-5 5¾-5½ 5¼-5 3,1 5¾- 5:W 5 5 5 5 ---18 5 -5}1' 5 -5 ½ 5½-6 4¼-4½ 4½-4¾ 4½-4¾ 4½-4¾ 4½-4¾ 5 -25 4¾-5 4¾-5 4¾-5¾ 4¾-5 ¼ G½-6 4 4¾ 4½ 4½ - - - - June ____ 1 4 -4¾ 4 -4¾ 4¾-5 4¾-5 4¾-5 4¾-5 5¾-5½ 5 -5 ½ .5 -5½ 5½-6 8 4 4 4¾-5 5 -5 ½ 5 -5 ½ 5½-6 4¼-4½ 4¾-5 4¾ ---15 -5 ½ 5 -5 ½ 5 ½ -6 3¾-4¼ 4 -4 ¾ 4½-4¾ 4¾-5 4¾-5 5 5¼ - - -22 41,~ 4¾-5 4 -4¼ 4¼-4½ 4¼-4½ 4¾-5 5,¼-5½ 5 -5 ½ 5 -5 ½ 5 ½ -6 ---29 4½-5 4½-5 5 5 5¼-5~1 5½-5¾ .5 -5!,(, 5 -5½ 5~1-6 - - - - July ____ 6 4½ 5 -5¾ 5 -5¼ 5½-5¾ 5½-5¾ 5 -5 ;.~ 5 -5 ½ 5%'-6 4¾ 1 ,5 ½-6 13 5½ 5¾-6 4¾-5 5¼-5½ 5 -5 1 5 4¾ 4½-4¾ -- - 20 6 3½-4 4¾-4½ 5 -5 ¼ 5½-5¾ 5½-5¾ 5½-5%'. ,5½-5¾ 4¾ -- -27 6 3¾-4 4¾-5 5 -5¼ 5 ½-5¾ 5½--5¾ 5½-5¾' 4¾ 5½ 3½ - - -____ August 6 3 4 4½ 4¾-5 5 -5 ¼ 5½-5~1 5½-5¾ 5½-5¾ 5½-5¾ 10 5½-6 5¾-6 6 4 -4½ 4 -4½ 5 -5¼ ,5½-5%' 5½-5¾ - - -53,-2-6 17 6 5½-6 5¾-6 4½-5 5¾-5½ 5½-5¾ ,5.¾-6 -- -24 6 6 6½ 6 6 6 6 6 6 - - -31 6 -7 6 6 -7 7½ 6¼-6½ 6¾-6½ 6 -6½ 6 -6¾ 6¾ -7 -7 6 6 7½ ====September 7 7 7½ 7½-8 6½ 6½ 14_ 6 -6½ 6 -6}1 6¾-7 7 6½ 6½ 6½ -- -21 6¼-7 7 -7½ 6½-7 7 -7 ½ 7½ 7½ 7 -7!1 28 6½-7 6½-7 7½ 7 7 7 -7½ 6 ½-6 ¾ 6½-6¾ 6 -7 7 5 6 -7 6 6 6 6 6 ====October 12 6 -6!16 -6 ½ 6½-7 5½-6 5½-6 5½-5¾ 5½-5¾ ---19 6½-7 6 -6½ 6 -6 ½ 5½-6 5¾-6 5½-6 5¾-6 -- - 26 6 -6½ 6 -6½ 6½-7 6 6 6 -6½ 6 -6½ 6 -6½ 6 -6 ½ 6½-7 6 6 ====November 2 6½-7 6 7 9 6 -6½ 6 -6Y,: 6½-7 6 -6¼ 6 -6¼ 7 6½-7 6½ 9 6 -6½ 6 -6 ½ 6½-7 8 7 6½ 7½ 6½ 23 6 -6½ 6 -6¼ 6½-7 6 7 6 -6¼ 6 -6¼ 7 -7 ½ 7 -7½ --7 30 -6½ 6 fl'< 6 6 6 -p 7½ 7 6 -6½ 6 -"½ 6 -6½ 6 -61/4 6½-7 ====December 7 8 -8½ 8 7 6 -6½ 16 -63,,-~ 14 6 -6 ½ 6 - 6½ 6½-7 8½ 7½~ 7½ 6½~ 6½~ -21 1I 6 -6½ 6 -6 ½ 6½-7 8½ 8 7 7 9 -10 28 -6½ 6½-7 -6½ 6 6 8 7 -7½ 7 -7½ 6½-7 6½-7 are above 6 per cent, borrower had to pay a commission in addition to the legal rate. - - -- -- -- - -- - - --n~ - 7 -7½1 - - -- --- --- - ------ -- MONEY MARKET AT NEW YORK-RATES IN 1907. Pcmnium \ 1907. WEEK Ending- Jan. Feb. Mch. April May June July Aug. Sept. Oct. Nov. Dec. TIME LOANS. CALL LOANS. At At on Cur- Stock Exchange. Banks& rency. Tr. Cos. Ra nge. Ran(Jf'. I .4.v'oe. M 4 ____ 11_ ___ 18 ____ 25 ____ -- 8L____ 15 ____ 2:l ____ --8L____ 15... ___ 22 ____ 29 ____ 5_____ --12 19 ____ 26 ____ 3 ____ 2 -45 2 -15 2½-5 2 -4 1 %-4 2 -6 2½-6 2 -f, l,,~ 4 -7 3 -6¼ 3]~-25 2 -6 2½-14 1 -4½ 1½-2½ 1¾-3 1 ¾-2¾ 1 -4 -3 2 lQ_ - - 17 ____ 2 -3 24 ___ _ 1 ½-2½ 31_ ___ l ¼-2 ½ 7 ____ 1¼-2½ 14 ____ 1 ¾-3½ 2L ___ 2¼-3 ¾ 28 ____ 2 -12 5 ____ 3½-16 12 ____ 2 ½-8 2½-4 19_ - - 26 ____ 2 -3 2 ____ 2 -3½ 9 ____ 2 -6 2 ¼-5 16-____ --23 1 ¾-3 30 ____ 2 ½-4 5 ____ 2¼-4 13 ____ 2 -G½ 20 ____ 2 -5 27 ____ 1 -6 4 ____ 3 -10 lL ___ 2 ½-6 18 ____ 2 ¼-10 25 ____ 5 -125 l_ ___ 1 -3 3 -75 8 ____ 1 -4 4 -25 15 ____ 2½-4 5 -15 22_ -·- _ 1½-3 ½,3½-15 29 ____ ¾-1 ¾ :3 -12 5 ____ ½-2 13 -13 13 ____ ½-1 ½2 -25 20 ____ ½ -1 ¾6 -17 27 ____ ¼ -1 MJ6 -25 3lg ___ f ½- ,,5 -20 15 6 4 2¾ 3 nf 4% 5 5 5½ 10 4 6 3 2 2¾ 2¼ 2¼ 2:'i 2½ 2¼ 1¾ 2 2½ 3 5 8 6 3¾ 2½ 3 4 3 21,{ 3 3 5 4 4 5 5 5 40 50 22 10 10 7 6 18 12 20 17 'm. 30 days. Range. 60 day,. 90 II day,. Four I Five COMMERC'L Six --- --- --- --- --- --Range. I?:ange. 7 - 7 6 1907. Choice Prime Good 4 to 6 60 to 90 4 to 6 Days. Months. Months. WEEK Endir..~•- Monlhsffonths . Months . Month,. - - Range. Range. Range. 6½-7 6 -7 6 -6½ 6 -6½ 6 6 6 6 6 6 6 5¾ H2 5½ 4 ½-4¾ 4 .¾-5 5 -5¾ 5½ 5¾-5½ 5¼-5½ 5½-5¾ 5½-5¾ 5½ 5½ 4~{ 5 5¾-5½ 5¼-5½ 5¾-5½ 5 -5¾ 5¾-5½ 5¾-5½ 5¼ 5¼ 4 5¾-5½ 5½ 5½ 5½ 5¾ 4 5¾ 5¾-5½ 5½-5¾ 5½-5¾ 5¼ 4 5.¾-6 5½-5¾ 6 6 5¾ 5¾ 7 -7½ 6½-7 6 6 6 8 6>~ 3 6 -6 ½ 6 6 6 6% 6½ 3 6 6 6 6 6½ 2 4½-5 5 5¾ 5¼ 5¼ 2 4¼-4½ 4¼-4½ 4½-4¾ 4½-4¾ 5 5 2 3½-4 3 ½-4 4 -4½4 -4½ 5 5 4 -4 ¼ 4½-4¾ 4¾-5 4¾-5 1¾ 3½ 4 3 :}4 4½ 4½ 1¾ 3½ 4 2½ 4¾ 4¾ 4½ 3 '' 2 4 3¾-4 4½-4¾ 4½-4¾ 4½-4¾ 2 4 -4¾ 4 ½-4¾ 4½-4¾ 4¾ 3 -3½ 3 ¾-4 4 3¾-4 2 ½-3 4½ 4¾ 1½ 3½ 4 ½ -5 l½a 3 -3½3 -3½ 4½ 4½-5 4½-5 4 -4¾ 2 3½-4 4½ 4¾ 5½-5¾ 3¾ 4 4½-5 2½ 4½ 4½ 5½ 5½ 5 4¼-4½ 4½-4¾ 5¼-5½ 5½-,5¾ 2½ 5 5¼-5½ 5~{ 3½ 43-i-4½ 4½-4 ¾ 5¼-5½ 5½-5¾ 5½-5¾ 6 2½ 5 4½-4¾ 5¼-5½ 2½ 4½ 5 5¾ 5% 5¾-,5½ 5½-5¾ 2 -2½1> 4 4¾-4½ 5 6 53{ 2½ 6 -6¾ 6 -6 ¾ 5 5½ 63,{ 6½-7 6½-7 2½ 5 5 -6 6 2 }1 6¾-7 6 -6½ 6½-6~1 6¾-7 63-'2 2a 7 6½-7 7 6 6½ G~-i-7 j 6 -6½6 -6½ 67~-7 6½-7 2½ 5 5½ 2 ,½ 5½-6 6 6 6 5¼ 2½ 6 6 6 5 5½ 5½ 2½ 6 6 6 5 5¾ 5½ 2½ 5¾-6 6 6 6 5½ 3 5¾-6 6 -6½6 -6½6 -6 ½6 -6½ 3 6}.f 6 6 6 -6½ 6½-7 3 6 6 6 6 6½ c6½-7. c6½-7 c6½-7 6 c6 c6 e 12 -16 12 -16 No business e 12 -15 No husiness e 12- 15 12 -15 No business e No business 12 -1-5 12 -15 e 12 -15 No business e No regis. rates ; all business subject to speci e 7 -8 8 - 10 8 -10 8 15- 18 12 e 8 10 6 --7 12 10 -12 e 7½-8 e 12 10 10 6 5 3 2½ 2¼ 2 2 ,I,. 4 3 Seven Range . PAPER . DoubleNames. Single-IN ames. - i- - ____ Jan. 6 -6½ 6 -6½ 6 1/2-7 4 6 -6½ 6 -6½ 6½-7 11 --- 18 6 -6½6 -6 ½ 6½-7 -- 61,1 5¾-6¼ 5¾-6¼ -____ - - - Feb. 25 1 5¾-6¼ 5¾-6¼ 6½ 5%-6¼ 5¾-6¼ 8 6½ ---lf; 5¾-6¼ 5¾-6¾ 6½ ---5¾-6 2~ 5~4'-6 6½ 1---____ M:ch. ,.5 ~4-6 5¾-6 1 6½ 1 16 8 -6¾ 6 -6¼ 6½-7 ---15 -6¼ 6 -6¼ 6½-7 1- - - 15 15 -6½ 6 -6½ 6¾-7 22 ---6 -6½ 6 -6½ 6¾-7 29 1- - - ____ April 5 6 -6½ 6 -6½ 6¾-7 12 6 6 6!,:1 ---5¾-6 5¾-6 19 6 -6H - - - 5½-6 5½-6 26 5½ 6½ ---5½-6 5 ½-6 3 G - - - - :\'lay 5½ 5½-6 10 5½ ---5½-6 17 5½ 5½ ---24 5½ 5½ 53-'2-6 ---5¾-5½ 5 -5½ 5 -5½ 5½ -____ - -- June 31 5 -5 ½ 5 6 5½ 7 5;.2-6 14 5½-5¾ 5 ½-6 6½ ---5½-6 5¾-6 6 -6½ - - - 21 5½ 5.¾-G 5½-6 6 -6½ - - - 28 5½ 5½-6 6 -6½ ____ July 5½ 5 5½-6 6 6 -6½ - - - 12 5½-6 6 19 6½ ---5½-6 6 26 6½ ---6 6 -6½ 6½plus ____ Aug. 2 6 -6½ 6½plus - -- 6 9 6 -6½ 6 -6½ 6½plus - - - 16 6 -6½ 6 -6½ 6½plus - - -23 6½ ' 6½-7 6½ 30 6½-7 6½-7 6 7 -7½ ====sept . 6 6½-7 6½-7 7 -7½ - -13 6½-7 6½-7 7 plus - -- 20 7 7 27 7 plus 7 7 4 ====Oct. d7 d7 d7 -7½ --- 11 d7 6 18 d7 -7½ d7½ pl --- c6 d7 -7½ d7 -7½ 25 - -- --No business - - - ____ Nov. 1 d7- 7½ d7 -7½ 8 - - -d7 -7½ d7 -7½ 15 - - ---No business 22 - -8 8 -____ -- - Dec. 29 al agree ment. 6 d8 d8 13 --- d8. d8 20 d8 27 d8 - -- 8 g31 8 ---- - - - --- - - --- a Trust compames not in the market, rates bemg too low . o Lower rate at banks only; trust compames put out no money at that figure. c Nominal rates; no o'ferings. d Quotations entirely nominal; no business. e Banks and trust companies out of the market. f The premium on currency practically disappeared with the last day of the year. g Covers busmess for last two days ot year . · https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 41 NEW YORK MO EY MARKET .' RA TES IN 1908. COMMERC'L PAPER. TIME LOANS . CALL LOANS. I 1908 . WEEK Ending- At At Stock Exchange. Banks . At Trust Cos. 30 days. 60 days. DoubleNames. Single Names. I Six Seven Faur Five Months . Months. Months. Months . 90 days. - - - ------ - Prime Good 4 to 6 Days. Months. Months. May Jµne July Aug. Sept. Oct. Nov. Dec. * 60 to 90 4 to 6 - - - - - - - - - -----__ xJan. 3 8 8 6¾-7½ 6½-7 5½ 5½-6 5¼-5½ 5¼-5½ 6¾-7½ 6½-7 6 -6½ 5½-6 5½-6 5¼-6 4½-5 5 -5½ 4½-5 5 -5 ½ 5½-6 5½-6 5½-6 5½-6 5½-6 5½-6 5½-6 5½-6 5 -5¼ 5½ -- 7½ -- 6½-7 - - 6 -6½ - - __ _Feb. 6+ 5½-6 5½-6 - - 4½-5½ 5 -5½ 5 -5 ½ 5½-6 3½-3¾ 4 -4½ 4½-5 3½-3¾ 4 -4 ½ 3¾-4 4 -4½ 3½-3¾ 3¾-4 4 -4½ 3½-3¾ 3¾-4 4 -4½ 3½-3¾ 4 4½-5 3½ 4 -4½ 4½-5 3½ 4½ 3½ 3½ 3½-4 1¾-2 2 -2 ¼ 2½-2¾ 3 -3¼ 2 3½-4½ 4½ 2 -2¼ 2¼-2½ 3 -3¼ 3 -3¼ 3½ 3½ * 3½-4 3½-4 l ¾-2 2 -2¼ 2¾ 3 -3¼ 3½ 4½ 1¼ 1½ 2 3½-4 3½-4 4 -4½ 2½-3 1 2½-3 3½ 1¾ 3½-4 3½-4 4½-5 1 l ¾-2 2 -2¼ 3 -3¼ 3 -3¼ 3¾ 3½-4 3½-4 4½-5 1 2¼-2½ 2½-3 3¼-3½ 3½-3¾ 3¾-4 3½-4 4 -4¼ 1 2 2¼-2½ 3¼-3½ 3½ 3¾-4 1 2 -274 2½-3 3½ 3½-4 3¾-4 3½ 3½-4 4 -4½ ¾ 1 1 2 3 -3¼ 3 -3½ 4 -4 ½ 2½ 3¼ 3½-3¾ 3¾-4 1 2 3 -3¼ 3½-3¾ 3¾-4 3¾-4 4 -4½ 4½+ 2½ 1% ¾ 1 2 3¾-4 4¼-4½ 4½-5 2½ 3 3¼-3½ 3¼-3½ ¾ 1 1 1 ¾-2 2 -2¼ 2¾-3 3 -3½ 3½-3¾ 3½-4 4 -4½ 4½-5 1 1 3¾-4 3~i-4½ 4½-5 2 -2¼ 2½ 3¼ 3¼-3½ 3¼-3½ 4 4 -4½ 4½-5 1 1 2½ 2¾ 3 -3½ 3¾ 3¾ 4 1 1 2¾-3 4½ 2½ 3½ 3½-3¾ 3 ½ -3¾ 4 4 -4½ 2¼-2½ 2½-2¾ 3½ 3½ 1¼ 1¼ 3¼ 4 4 -4½ 1 1 2¼-2½ 2½-2~ 3 -3¼ 3½-3¾ 3½-3¾ 4 4½ 1 1 2¾-3 3¼-3 1 2 3¼-3½ 3½-4 3½-4 4 -4½ 4½-5 1 1 2¾-3 3¼-3½ 3¼-3½ 3½ 3½ 4 1 4 -4½ 1 2¾-3 3 3 ½ -3¾ 3½-3¾ 3¼ 4 -4 ½ 4½-5 3 -3¼ 3¼-3½ 3½ 3¾ 3¾ l½ l½ 4 4 4 4 -4 ½ 1 1 4½ 3¼-3½ 3½-3¾ 4 3 4½ 3¼ 3½ 3½-3¾ 3¾ l½ 1½ 3½-3¾ 4 -4½ 2¾-3 3 3½ 3½ 3½ 1½ 3¼ 1½ 1 1 3¼-3½ 3½ 3¾-4 4 -4½ 3½ 2½-2¾ 2¾-3 4½ 2¼ 3½-4 4 -4½ 3½ 3½ 2¼ 1½ l½ 3 3 -3¼ 3 -3¼ 3¼-3½ 4½+ 2 2 3¾-4 4 -4½ 4½-5 3¾ 3½ 3¼ 3¼ 3¼-3½ 3½-3¾ 3¾ 3¾-4 4 -4½ 4½-5 3¼ 2½ 2½ 3¾ 3½ 3½ 3½ 3½ 4 3¾-4 4½-5 2½ 2½ 3 -3¼ 3 -3 ¼ 3¼ 3 3¼ 3 ½ -4 3½-4 3¾ Trust compames out of market on account of low rates. x Covers only the portion of the week fallmg m 1908. ~ l½ 1¼ l½ 1¾ 1½ l½ 1 1½ 1¼ 1½ 1¼ 1 1¼ 1 1 1 1 l¾ 1½ 1¾ l½ 1¾ 1¾ 1½ 1% l½ 1% 1½ 1½ 1½ 1¼ l¼ 1¼ 1 Ys 1 1 Ys 1 1 Ys 1 1¼ 1¾ 1¼ 1½ 1¼ l½ 1½ 1½ 1¾ 1¾ 1¾ 1¾ l¾ l¾ 1¾ l¾ 1½ l½ 1 1½ 1¼ 1½ 1½ 4 3½-3¾ 3½-3¾ 3¾-4 ·3 3½-3¾ 3 -3¼ 3½-3 ¾ 2 -2 ¼ 2½ 2¾-3 3¼ 3¾-4 2¾-3 3 -3¼ 3½ 2½ 3 3½ 2½-2¾ 3¼ 2½ 2¾-3 3 -3¼ 3½ 2 -2¼ 2½ 2¾ 2¾ 2 -2¼ 2¼-2½ 2½-2¾ 3 -3¼ - 2¾-3 .. 2¾-3 3 2¾-3 2½ 2 -2¼ 2½ 2¼- 2½ 2½-3 4 3¾-4 WEEK Ending- Choice --- ------------ --- --- --Range. Aver. Min'm. Min'm . Range. Range. Range. Range. Range. Range. Range. ------ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 6 Jan. 3x __ 5 -20 10 10 7 7 10 10 ___ 2 -9 6 6 6 6 4 4 6 6½ 17 ___ 2½-6 5½-6 4 3 3 5¼-5½ 5¼-5 ½ 5¼-5½ 24 ___ 1½-3 4 4 5 2 4½ 4½ 1½ 2¼ 31_ __ 1½-2 4½ 3 -3½ 3 -3 ½ 3 -3½ 4½ 1½ 1¾ 7 __ _ 1 ¾ -2 Feb. 14 -* l½ 3½ 4 -4¼ 4¼-4½ 4½-4¾ 4½-4¾ ___ 1¾-2 3¾-4 4½ 4½-4¾ 4½-4¾ 4¼ 1½ * 2L __ 1½-2¼ 4 -4¼ 4½-4¾ 4 ¾-5 4¾-5 2 4½ 1¾ l½ 28 ___ 1½-2 4 2 4 4¼ 4½-4¾ 4½-4¾ 1¾ 1½ 4 4¼-4½ Mch. 6 ___ 1¾-2 4¼ 3¾ l½ l¾ 3½ *2 13 ___ 1¾-2 3¾-4 4½ 3½-3 ¾ 3½-3¾ 1½ 1¾ 20 ___ 1¾-2 2 1½ 1¾ 3¼ 3¼-3½ 3½-4 3¾-4 3¾-4 4¼-4½ 27 __ _ 1¾-2¼ 2 2 3 3¼ 3½-4 4 -4¼ 4 -4¼ l¾ 4 4 April 3 ___ 1 -2 3 3¼-3½ 3¾-4 1% 1¼ 1½ 10 ___ 1½-2 17 ___ 1¼-2 24 ___ 1½-2 - - 1¾-2 8L___ 1½-2 15 ___ 1 ½ -2 22_ -- 1 -1¾ 29 ___ 1 ½ -1¾ 5 ___ 1¼-1¾ 12 ___ 1½-1¾ 19 ___ 1¼-1¾ 26 ___ 1 -1¾ 3 ___ 1 -1 ¾ 10 ___ 1 -1½ 17 __ _ 1 -1 ½ 24 ___ 1 -1 ½ 31_ __ 1 -1¼ 7 ___ 14 __ _ 'i 2L __ ¾-1¼ 28_ -- ¾-1¼ 4 __ _ 1 -1¼ lL __ 1 -2½ 18 ___ 1 -2 25 __ _ 1 -1½ 2 _ __ 1 ¼ -2 9 ___ 1 -1½ 16 __ _ 1 -2 23 ___ 1 -1¾ 30 ___ 1 -2 6_ - - l½-2 13 ___ 1 -3 20 ___ 1½-2 27 ___ l ½-2 4 ___ 1 -3 11 ___ 1½-2½ 18 ___ 2 -4½ 25 ___ 2½-3½ 3L __ 2½-3½ 1908. 4 ½-5 4½-4¾ 4½-4¾ 4½-4¾ 4½-4¾ 4 -4½ 4 ¼-4½ 4½-4,i 4 -4¼ 3¾-4 3¾-4 3¾-4 4½-5 4 -4½ 4 -4½ 4 -4 ½ 4 -4½ 3½-4 3¾-4 3¾-4 3¾-4 3½-3¾ 10 17 24 '31 7 14 --21 --28 --___ l\lch. 6 · 13 --20· ---___ - - April 27 3, 10 -- -- -___ - - May ---- - 17 24 1 8 15 22 -___ - -June 29 5 12 --rn - --___ - -July 26 3 IO, --17 --24 -- 31 --___Aug . 7 14 --21 ---___ -- Sept. 284 11 -- 18 --25 --___ Oct. 2 9 - -16 --23 ---___ - - Nov. 30 J6 13 20 27 4 ------- ___ Dec. 11 -------- - 18 2.'> 31 NEW YORK CITY CLEARING HOUSE BAN KS-AVERAGE CONDITION EACH WEEK AND ACTUAL CONDITION -· WEEKLY AVERAG l~S OF 00\' DITION (00s omitted .) 1908. Week Loans. Deposits. s $ Ended. January4 ______ ____ ACTUAL CONDITIO:\T EXD OF WEEK (00s omitted.) (1) Specie. Reserve; (2) L eyal (3) Total to De- Surplus Tenders . [ Money. posits. Reserve.a -- --------s s s $ Loans. Deposits. s $ 1,132,871,8 11 __________ 1,117,149,6 18 __________ 1,126,677.7 25 __________ 1,135,569,7 1,048,465,8 1,051,651,0 1,090,188,5 1,127,168,0 192,120,9 206,732,5 229,027,2 260,242,7 58,486,0 250,606,91 23.89 dfll, 509,6 ---------- ---------6,084,1 - -- -- - - - - - - - --- -- - - 62,264,3 268,996,8 25.57 22,635,5 ---------- - - -- - - -- - 66,155,4 J295,182,6 27.06 37,064,5 ---- ---- -- ------ ---68,613,8 1318,856,5 28.28 1,133,786,1 1,139,755,7 1,135,248,2 1,143.969,7 1,161,057,7 1,138,5Pl,5 1,137,384,5 1,132,309,1 1,146,291,4 1,167,623,7 258,139,6 254,081,3 253,424,2 258,374,8 261,318,2 67,012,5 325,152,1 60,097,0 314,178,3 60,503,3 313,927,5 60,666,6 319,041,4 59 ,850,4 1321 ,168,6 1,164,349,2 1,160,719,5 1,161,653,6 1,164,539,7 1,175,700,5 1,171,829,3 1,182,080,2 1,189,334,3 265,288,7 264,496,4 271,990,0 275,210, 1 58,772,4 59,126,0 60,954,5 61,912,0 February!_ _________ 3 __________ 15 __________ 21- _____ ____ 29 __________ March7 ---------14 __________ 2L _________ 28 __________ AprU4 __________ 1,180,378.7 1,213,954,4 281,926,2 lL _________ 1,187,411,8 1,225,520,9 287,144,6 18___________ -- -- -- ___ 1,195 ,728,9 1,245,609,9 296,676,7 25 1,190,518,2 1,250,903,8 304,738,1 May2 ____ ______ 1,190,455,2 1,257,759,2 308,045,0 9 ________ __ 1,196 ,342 ,2 1,270,324,9 313,304,5 16 __ _____ ___ 1,201,120,0 1,276,220,6 313,980,5 23 __________ 1,219,047,9 1,296,923,3 312,055,41 29 ___ -- -- -- _ 1,215,118,5 1,285,788,8 298,729,8 June-- 6___________ - - - - - - - - - 1,211,601,9 1,282,500,4 295,945,3 13 1,213,866 ,6 1,289,256,4 301,467,5 20b ________ 1,239,922,1 1,321,258,5 312,117,3 27- - - - - - - - - - 1,231,220,8 1,320,176,4 316,670,2 July3 __________ 1,241,096,5 1,320,470,8 306,623,6 IL ______ ___ 1,255,712,8 1,328,300,2 301,491,9 18- ___ ______ 1,264,688 ,3 1,346,013,2 310,163 ,6 25 __________ 1,270,921,4 1,358,988,2 316,610,9 AU(Just1 __________ 3 ________ __ 15 __________ 22 __________ 29 ____ -- - _ - - Money Ho ·dtnos. u. s. Reserve1 (:0 L eyal (3) Total to De- Surplus Gov't Specie. T enders . Money . posits. Res've. a Dep'tts. Money Holainos. 1,273,230,9 1,275,62 1,6 1,290,013,6 1,286,591,3 1,289,795,6 1,365,401,3 1,368,51ft5 1,385,928,3 1,388,134,9 1,394,617,3 321,313,4 3i~.791,7 32'4,635,9 331,266,7 334,142,0 S eptember- 5___________ - - - - - - - - - 1,300,731,4 1,402,641,4 329,086,5 12 1,322,730,5 l,420,061,9 326,511,6 19 ______ ____ 1,318',152,8 1,412,563,5 323,694,9 26_ ---- ---- _ 1,312,020,1 1,405,935,0 321,194,5 October3 _____ _____ 1,312,130,7 1,396,77 1,4 311,&96,3 lQ _____ _____ 1,324,358,0 1,402,753,1 306,469,5 17 ________ __ 1,338,433,3 1,416,647,9 304,992,5 24 ______ ____ 1,338,426,9 1,418 ,13~.4 306,290 ,2 31 __________ 1,333,365 ,6 1,411,416,3 305,162,4 November7 ______ ____ 1,323,142,1 1,396,920,9 301,116,9 14 __________ 1,328,147,6 1,403,522,6 302,088,1 21 __________ 1,332,773,1 1,4 14,028,3 303,390,5 28 ____ ______ 1,340,537,1 1,425,375,0 304,427,2 December5 ____ __ ____ 1,347,145,3 1,424,132,5 296,706 ,8 12 ________ - - 1,339,547,4 1,408,597,9 289,966,8 19 ____ ______ 1,315,980,1 1,368,912,4 272,848,2 26 ________ __ 1,276,745,3 1,322,151,9 269,198,6 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis (1) s ! --- - - - ------ - - -- - ; -- - - -I I s -- - - - - s ------ -- -- -- -- - - - - - -- - ----- -- -- -- ------ ---- s ------------- s ------ ------ ------ -- - -- - - -- - ------ - --- - -- - -- 30 ,378,8 --- - - - - - -- - 28.55 27.60 27.73 27 .83 27.50 40,256,7 29,832,2 30,850,2 32,468,6 29,262,7 -- - - - - - - -1,135,737,8 1,133,086,6 1,153,855,5 1,166 ,988,4 - - ----- --- 1,131 ,69 1,0 1,133 ,324,6 1,161,023 ,2 1,176 ,818,5 -- - - - '252,154 ,7 252,623,7 261,431,5 263,011,8 - - - - -- 61,146,8 63,199,7 6 1,896,3 58,981,9 - -- - -313,301,5 315,823,0 323,327,8 321,993,7 -- - 27.70 -----27.86 32,491,9 59,507,1 27.84 33,072,0 59,229,8 27 .36 127,789,1 55,3 6,5 324,061,1 27.56 323,622,127.61 332,944,5 28.15 337,122,1 28.34 30,136,0 30,665,1 37,424,5 39,788,5 1,160,895,2 1,162,961,9 1,159,768,4 1,175,122,4 1,174,517,3 1,179,103,7 1,186 ,133,0 1,203,031,5 267,162,4 58,748,6 267,822,2 60,303,l 277,277,3 61,296,0 276,380,51 62,773,0 325,911,0 328,125,3 338,573,3 339,153,5 27 .74 27.82 28.55 28.18 32,281,7 33,349,4 42,040,1 38,395,6 52, 71 ,3 48,328,7 48,281,5 43,510,2 62,252,7 '344,178,9 28 .34 62,501,3 ,349,645,91 28 .52 64,699,2 361,375,91 29.00 66,972,6 371,710,7i 29.71 40,690,3 43,265,7 49,973,4 59,984,8 1,179,474,7 1,196,766,7 1,194,607,4 1,187,816,4 1 ,214,373,8 1,241,000,1 l ,248,556,2 1,250,822,3 284,317,l 291,732,3 300,164,0 306,236,4 346,264,8 355,458,0 365,395,1 374,442,1 28.52 28 .63 29.26 29.93 142,671,4 45,208,0 ,53,256,1 ,61,736,5 43,519,l 43,561,2 43,571,6 43,488,5 68,747,7 68,160,2 69,681,9 68,660,8 70,627,4 61,947,7 63,725,7 65,231,1 68,205,7 376,792,7' 381,464,7 383,662,4 380,716,2 369,357,2 29 .95 30 .03 30.06 29.35 28.72 62,352,9 63,883,5 64,607,3 56,485,4 47,910,0 1,194,148,8 1,197 ,914,6 1,208,879 ,8 1,220,089 ,3 1,218,677 ,9 1,264 ,782,1 1,276,624,3 1,286 ,477,5 1,302,135,1 1,289 ,304 ,2 309,133,4 1 67,873,0 317,207,5' 69,061,3 316,371,1 69,249,5 311,000,91 69,813,5 296,382,7 72,206,3 377,006,4 29.80 386,268,8 30.24 385,620,6 29.88 3 0,814,4 29.24 368,589,01 28.58 60,810,9 ,67,112,7 64,001,2 55,280,6 46,263,0 39,955,(), 37,239,7 31,652,2 28,549,6 19,870,3 71,872,0 ,367,817,3 74,237 ,9 375,705,4 76,909,2 389,026,5 79,472,7 1396,142,9 29.13 29.59 29.87 30.43 47,192,2 53,391,3 5 ,711,9 66,09 ,8 1 ,211,015,2 1,219 ,468,3 1.242 ,809 ,2 1,223.061,5 1,284,120,7 1,297,360 ,5 1,327,336 ,4 1,312,988,7 297,220,5 73,085,4 305,413,91 75,598,5 3 14,197,5 78,910,3 316,758,41 79,721,8 370,305,9 29.29 381,012,4 29.82 393,107,8 30.04 396,480,21 30.63 49,275,7 56,672,3 61,273,7 16tl,233,0 19,848,6 19,850,7 19,084,0 18,919,0 78,1 9,4 1384,813,0 29.54 77,636,4 379,128,3 28 .81 79,068,1 389,231,7 29.12 79,652,4 396,263,31 29.35 54,695,3 47,053,3 52,728 ,4 56,516 ,3 1,245,557,0 1,261,470,4 1,270,049 ,4 1,273,551,1 1,31 ,008,6 1,338, 714,7 1,352,034,8 1,365,532,7 298,979,6 305,701,6 309,606,4 , 320,209,6 78,107,9 79,041,0 80,322,6 79 ,581,3 377,087,5 384,742,6 389,929,0 399,790,9 47,585,4 50,063,9 51,920,3 ,58,407 ,7 17,346,2 11,051,5 9,315,3 9,244,1 79,120,5 78,561,7 79,464,8 78,915,0 79,871,3 1 28 .98 28.97 29.03 29.47 1 I 400,433,9 401,353,4 404,100,7 410,181,7 414,013,3 29.52 29.52 29.35 29.74 29.87 59.~3.6 59,224,3 57 ,618,6 63,148,0 65,359,0 1,373,106,4 1,281,734,5 1,293,041,9 1,285,797,2 1,294,766,1 1,364,662.9 1,374,777,4 1, 390,136,3 1,389,412,2 1 ,396,826,6 320,015,5 322, 109 ,9 327,552,9 334,765,9 328,331,9 78,413,7 78,723,1 79,094,l 77,757 ,2 82,616,4 398,429,2 29.38 ·57,263,5 400,833,0 406,647,0 1i i : a g 412,523,1 29.88 :65,170,1 410,948,3 29 .61 61,741,7 9 ,2 28,0' 9 ,226,6 9,243,9 9,262,5 9,256,2 81,218,8 410,305 ,3 80,496,7 407,008,3 79,664,5 ,403,359,4 80,328,8 401,523,3 29.43 28.84 28.73 28.74 59,645,0 51,992,8 50,218,5 50,039,6 1,308,029 ,3 1,326,280,6 1,314,154,3 1,311,605,8 1,409,184,9 1,422,86 , 7 1,408,579,7 1,404,043,9 328,940,2 325,064,6 322,795,1 318,368,2 80,097,4 81,072,8 79,790,8 80,170,4 409,037,6 406,137,4 402,585,9 398,538,6 29.21 28 .72 28.76 28.56 56,741,4 50,420,2 50,441,0 47,527,6 9 ,255,2 9,291,7 9,392,5 9,242,1 79,585,7 391,482,0 28.21 78,926,01385,395,51 27 .65 0,640,6 385,633,1 27 .39 81,122,9 387,413,1 27.48 81,280,8 386,443,21 27.55 42,2 9,6 34,707,2 31,471,1 32,880,0 33,589,1 1,311,329 .o 1,333,084,5 1,342,975.3 1,339 ,168,5 1,328,436 ,0 1,391,320,4 1,40 ,767,8 1,423,151,6 1,419,259,0 l ,404,706,1 307,493,3 303,732, 1 306,705,2 305,877,3 304,604,3 79,226,1 80,036,7 80,675,0 82,179,4 80,071,2 386,719,4 383,768,8 387,380.2, 3 8 ,056,7 384,675,5 27.97 27.40 27 .39 27 .51 27 .55 38,889,3 31,576,9 31,592,3 33,242,0 33,499.0 9,240,2 9,244,3 9,241,3 9,243,3 9 ,248,2 78,393,3 379,510,2 27.33 379,330,4 27.43 381,860,51 27-30 386,013,5 27 .30 381,960,2 26 .82 31,474,8 29,838,7 30,416,2 23,881,1 9,252,4 9,189,7 9,182,S: 8,854,3' 19,530,7 14,929,1 14 ,184,l 18,269,7 _ 8,688,8 9,185,4' 8,862,2 8 ,792,9 ~t~~ ~g:~~t~ m:n~:~1~u~ 80,047,2 384,474.4 27.14 30,280,0 30,212 .0 29,599,6 28,130 ,7 1,318,234,7 1,330,159,7 1 ,337 ,942,0 1,348,282,7 1 ,391,422,6 1,408,087,1 1,422 ,389, 1 1,432 ,3 16 ,3 300,237 ,1 302,108,3 305,781,5 301,,l00,6 79,093,3 79,752,2 80,232,0 80,659,6 79.498,1 79 ,082,3 79,389,6 78 ,262,7 376,204,9 369,049, 1 352,237.8 347,461,3 20,171,8 16,899,6 10,009 ,7 16,923 ,3 1.,339 ,279,3 1,336,422 ,2 1,288,3 10,7 1,264,616,8 1,411,435,9 1,400 ,057,4 1,337,231,8 1,306,566,5 293,307,1 285,220,5 268,842,8 267 ,577,6 79,082,6(72,389,7 26.53 79,947,9 365,168,41 26.24 79,649,2 348,492,0 26.22 77,333,7 344,911,3 26 .58 26.57 26.37 25 .92 26.46 NEW YORK CITY BANK MOVEME TS. 42 BANKS AND TRUST COMPANIES IN 1908. In the table on the lower half of the preceding page we have furnished a summary of the returns of the ew York City Clearing-House banks for each week of the past year. These Clearing-House returns have heretofore given only the averages for the week, but, commencing with the statement for February 8, the actual figures at the end of each week have also been made public. It will be observed that we show both sets of figures in our compilation. Formerly weekly figures of condition of the banking institutions of this city were limited to these returns of the New York Clearing-House banks. On February 8 1908, however, the State Superintendent of Banking inaugurated the practice of requiring weekly reports of all the banks and trust companies in the State under his jurisdiction and of making the returns public at the same time as the Clearing-House figures. This enables us to add one other table here, namely the following, showing the totals of condition for those State banks and trust companies in the Greater New York not included in the Clearing-House returns. The figures are the averages for the week. STATE BANKS AND TRUST COMPANIES CLEAR! ' G-HOUSE. 00a omitted. 1908. Loans and Investments Specte. OT IN THE DeposUs Reserve % *LegalTotal Less Due on of Tenders Depostls. from.Other Deposus. ReBanks ,&c s've. - - - - - -1-- - - -1- - - ___ ,_____ ,____ - - - - -s $ $ % Feb. Mch. Aprl! May June July Aug. Sept. 8______ 15______ 2L_____ 29______ 7_____ _ 14______ 2L_____ 28______ 4______ IL_____ 18______ 25______ 2______ 9______ 16______ 23______ 29______ 6______ 13______ 20______ 27-_____ 3______ IL_____ 18______ 25______ l______ 8______ 15______ 22______ 29______ 5______ 12______ 19______ 26______ 3______ 10______ 17 ______ 24______ 3L_____ Nov. 7-_____ 14______ 2L_____ 28______ Dec. 5 ______ 12 ______ 19 ______ 26 ______ Oct. * Includes 770 ,262, 13 ,271,3 10,754,7 727,643,7 613,478,5 1 3,022,3 __ _ 773, 52,3 140,517,8 10,558,5 731,596,5 620,332,9 182,443,024.9 770,931 ,9 41,57 , 10,750,2 729,547,1619,674,01 3,454 ,125.6 769,650, 42,475,4 10,618,0 732, 01,0 619,417,418 ,562,2 26.2 772,690,5 42,944,2 10,588,2 739,396,5 619,701,6 194 ,314,327.0 773,948,9 43,345,2 10,374,7 740,353,2 623,178,7 192,993,626.5 775,340,143,413,210,177,3 749,183,7 625,467 ,3 199,749,427.1 812,982,146,450,510, 8 ,7 796,755,5 653,593,5 223,008,028.4 810,715,4 46,410,3 10,442,1 808,483,0 652,019,4 236,070,329.7 812,523,2 46,342,0 10,766,3 805 ,770,3 652,202,1233,636,029.5 806,372,2 46, 65,7 11,142,3 819 ,710,5 654,565,8 246,540,3 30.6 814,770,8 46,924,6 12,184,0 832 ,517,1 656,515,5 257,271,931.5 829,127,6 47,095,3 11,689,5 856 ,926,5 670,188,6 268,392,531.6 852,750,9 48,009,7 12,077,1 886 ,858,6 698,516,1 283,035,432.5 861,556,2 49,160,5 11,900,9 897 ,160,3 711,324,7 284,536,132.3 861,3 5,0 49,719,6 12,005,7 908 ,259,5 714,143,6 292,153,832.8 866,760,0 52,306,8 12,077,2 921 ,000,6 722,442,7 301,687,833 .4 881,218,5 55,725,6 12,171,3 941 ,845,7 742,324,6 306,442,233.2 892,550,2 59,729,3 12,437,5 950,664,4 757,621,1304,162,5 32.6 896,451,3 61,00 ,2 12,184,0 959 ,087,2 762,401,4 308,113,332. 905,177,8 63,508,7 12,735,0 974,765,9 776,249,1 312,367,632.7 907,862,5 76,236,9 13,371,9 993 ,315,9 790,094,1 328,447,136.2 905,746,182,844,914,868,4 991 ,946,8 809,552,3 317,945,935.4 905,774,4 82,562,115,532,9 997,289,0 804,402,4 327,838,236.3 903,831,6 82,981,8 15,340,2 999,271,9 805,011,3 329,353,8 36.1 907,476 8 83,161,6 14,664,91,005,379,4 807,727,2 333,024,836.6 911,307,6 83,847 ,2 14,529,5 1,015,842,3 814,485,4 337 ,064,6 36.6 918,007,185,983,714,877,5 1,025,423,0 824,165,9 340,718,936.6 930,383,0 88,521,0 14,568,9 1,036,729,0 839,410,2 340 ,007,936.1 933,862,187,779,3 15,949,3 1,043,606,5 846,706,8 338,996,935.8 940,417,0 87,318,2 15,123,4 1,046,932,6 852,831,1 334,838,635.2 943,959,1 85,813,1 15,376,0 1,043,008,7 851,741,9 331,329,7 34.6 951,244,2 84,638,3 15,125,4 1,042,563,1 858,981,0 322,124,5 33.7 949,792,8 83,923,8 15,009,7 1,044,808,2 859,901,2 322,442,9 33. 958,208,4 4,679,3 14,590,7 1,060,591,3 869,693,6 327,820,233. 961,637,2 85,390,2 15,021,5 1,063,691,0 876,052,5 328,328,333.7 968,473,1 85,555,1 15,352,9 1,068,099,0 882,424,1 325,370,133.3 973,547,186,442,2 15,052,0 1,081,917,8 889,655,7 332,265 9 33.5 976,105,4 87,937,8 14,951,6 1,083,505,4 892,406,l 332,096'.4 33.5 972,068,7 88,535,114,644,61,077,230,2 889,441,7 324,587,532 .9 979,911,5 88,413,4 15,374,2 1,078,426,8 894,968,3 318,462,3 32.1 98-5,306,4 89,273,7 15,168,9 1,090,479,9 902,360,2 322,142,2 32.2 991,191,2 90,551,2 15,399,4 1,104,841,1 910,348,3 329,479,6 32.4 1,011,778,8 90,378,6 16,358,1 1,118,755,8 933,127,0 321,465,431.4 1,030,876,0 91,040,7 17,083,11,123,055,3 951,442,l 276,053,629.7 1 ,047,342,6 91,623,7 17,345,7 1,124,661,0 966,037,3 294,656,628.5 1,057,049,2 91,267,0 17,134,8 1.115,026,6 971,940,6 278,464,427.1 bank-notes. To make our record entirely complete, we add yet another table intended to show the weekly results for the New York City banking institutions as a whole. In the following we h~ve combined the averages for the Clearing-House banks with the weekly averages of the trust companies and banks in the Greater New York outside of the Clearing-House as to two of the items-that ic:: the Loans and the Money Holdings. BANKS AND TRUST COMPANIES IN GREATER NEW YORK. 00s omitted. Loans Total and Money Week Investments Holdings. Ending- - - - - - -1- - - - - 1 $ Feb. 8---------- 1,910,018,5 363,204,3 15 __________ 1,909,100,5 365,003,8 2L _________ 1,914,901,6 371,370,4 29 __________ 1,930,708,5 374,262,0 Mch. 7 __________ 1,937 ,039,7 377 ,593,5 14 __________ 1,934,668,4 377,342,3 2L--------- 1,936,993,7 386,535,0 28 __________ 1,977,521,8 394,461,3 April 4 __________ 1,991,094,1 401,031,3 ll_ _________ 1,999,935,0 406,754,2 18 __________ 2,002.101,1 419,383,9 25 __________ 2,005,289,0 430,819,3 Ma.y 2 __________ 2,019,582,8 435,577,5 9 __________ 2,049,093,1 441,551,5 16 __________ 2,062,676,2 444,723,8 23 __________ 2,080,432,9 442,441,5 29 __________ 2,081,878,5 433,741,2 June 6 __________ 2,092,820,4 435,714,2 13 __________ 2,106,416,8 447,872,2 20 __________ 2,136,373,4 462,218,7 27 _________ _ 2,136,398,6 472,386,6 July 3 __________ 2,148,959,0 474,421,8 IL _________ 2,161,458,9 476,841,6 18 __________ 2,170,462,7 487,326,7 Week EndingJuly 25 __________ Aug. L _________ 8 __________ 15 __________ 22 __________ 29 __________ Sept. 5 __________ 12 __________ 19 __________ 26 __________ Oct. 3 __________ 10 __________ 17 __ ________ 24 ___ ------31_ _________ Nov. 7 __________ 14 __________ 21_ _________ 28 __________ Dec. 5 __________ 12 __________ 19 __________ 26 __________ Loans Total and Money Investments Holdings. 2,174,753,0 494,585,3 2,1 0,707,7 498,260,4 2,186,929,2 499,730,1 2,208,020,7 504,961,9 2,216,974,3 513,271,6 2,223,657,7 517,741,9 2,241,148,4 512,746,9 2,266,689,6 508,197,4 2,269,397,0 503,123,1 2,261,813,3 500,456,8 2,269,339,1 490,752,0 2,285,995,2 485,807,2 2,306,906,4 486,541,1 2,311,974,0 488,907 ,3 2,309,471,0 489,332,6 2,295,210,8 482,689,9 2,308,059,1 484,870,2 2,318,079,5 487,549,3 2,331,728,3 490,425,0 2,358,924,1 482,941,6 2,370,423,0 477,172,9 2 ,363,322,7 461,207,2 2,333,794,5 455,863,1 In the following table we show the maximum and minimum deposits and the maximum and minimum surplus reserve of the Clearing-House banks, based on weekly averages, for each of the last twelve years. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAXIMUM AND MINIMUM OF TEW YORK CLEARING-HOUSE BANKS. Surplus Reserve. Deposits. Year Maximum. I Minimum. Maximum. I Minimum. 1 1897 675,169,900Dec. 11530,785,000Jan. 2! 59,148,250Jan. 30 ll,523,450Dec. 24 1898 823,037 ,700Dec. 31658,503,300Apr. 30 162,206,250June20 4,240,400Sep. 17 1899 914,810,300Mch. 4 736,836,900Nov.18 43,933,725May 27 dt.2,788,950Nov .11 1900 907,344,900Sep. 15748,953,l00Jan 6 30,871,275Feb. 3 2,686,425Mch.17 19011,012,514,000Mch. 2 70,950,lO0Jan. 5 30,799,450Jan. 26 5,211,525July 6 1902 l,019,474,200Feb. 21863,125,800Oct. 18 26,623,350Feb . I df.l,642,050Sep. 20 1903 963,219,300Feb. 21 41,552,000 OV .28 27,880,775Jan. 31 666,975Mch. 7 19041,224,206,600Sep. 17 886,178,900Jan. 2 58,613,075Aug.20 8,381,375Nov.26 1905 l,202,972,300Feb. ll 977,651,300Dec. 30 26,979,550Jan. 28dt.2,428,800Nov.ll 1906 l,076,599,300Aug. 4 967, 161,400Dec. 15 19,391,000July 21 dt.6,702,175Dec. 8 19071,128,194,600June 1 1000578300 Jan. 5 19,441,225Apr. 6df. 54103600Nov.23 19081,425,375,000Nov.2 1104 465800Jan. 4 66,098,800June27df.11509550Jan. 4 We add the following two tables, the one showing the condition of each Clearing-House bank as reported for the week ending February 8 (the date of the first detailed statement issued after October 26 1907) and the other the condition at the end of the year. ------ CONDITION OF NEW YORK CITY BANKS. I Feb. 8 1908. Captlal. Surplus. I Loans. Specie. Legals. Deposus. a Re_o_o_s_o_m_u_iea_._ ,_ _ _ _ _ _ _ _A_v_er_a_u_e_. _A_v_er_au_e_. Average. Average. s've. s %• Bank or N. y__ 2,000,0 3,27 ,8 19, 15,0 4,382,0 764,0 19,009,027.0 Manhattan Co_ 2,050,0 3,236,6 23,950,0 8,624,0 1,419,0 29,725,0 33.7 Merchants'____ 2,000,0 1,672,8 17,820,0 3,846,0 1,452,0 18,604,028.4 Mechanics'____ 3,000,0 3,750 ,1 25,059,0 8,415,0 1,525,0 29,074,034.1 America______ 1,500,0 4,631,9 24,425,9 5,378,3 2,109,5 26,756,027.9 Phenlx _____ __ 1,000,0 524,3 7,263,0 1,491,0 7i,0 6,012,026.0 City 25,000,0 24,2 2,9 176,755,4 51,110,1 2,100,0 170,524,5 31.2 Chemical______ 3,000,0 5,70 ,7 32,704,0 6,897,5 2,012,3 33,629,826.5 Merchants' Ex_ 600,0 555,8 6,159,4 1,098,4 306,9 6,046,4 23.2 Galla tin_______ 1,000,0 2,423,9 9,347,3 1,428,1 510,3 7,415,326.1 Butch.&Drove. 300,0 14 ,9 1,863,5 470,7 86,5 1,972,328.2 Greenwich ____ 500,0 723,2 4,890,7 1,051,6 394,5 5,336,627.0 Amer. Exch ___ 5,000 ,0 4,858,4 33,174,6 4,868,8 1,697,3 26,074,525.1 Commerce_____ 25,000 ,0 15,287,4 146,100,1 21,353,0 10,903,7 125,301,4 25.7 Mercantile __ __ 3,000,0 2,384,1 8,805,3 963,1 142,6 4,225,426.1 Pacific ___ ____ 500,0 823,4 3,073,0 856,5 383,5 3,219,838.4 Chatham ______ 450,0 1,055,3 5,511,4 773,0 785,8 5,566,228.0 P eople's ______ 200,0 470,4 1,697,4 706,4 51,6 2,047,037.0 Hanover ______ 3,000,0 9,022,6 58,916,5 13,980,9 7,126,7 71,016,829.7 Citizens' Cent__ 2,550,0 1,216,4 20,662,3 4,861,7 321,3 20,027,228.3 Nassau _______ 500,0 364,9 4,190,5 444,5 592,3 4,323,623.9 Market & FuJt'n 1,000,0 1,581,7 7,647,0 1,711,4 605,0 8,009,828.9 Metropolitan __ 2,000,0 1,033,2 10,358,3 1,854,8 101,4 9,566,120.2 Corn Exch ange 3 ,000,0 5,069,5 37,277 ,0 11,080,0 3,544,0 46,878,0 31.2 Imp. & Traders' 1,500,0 7,428,6 26,410,9 5,236,0 1,553,0 24,585,0 27 .6 Park_____ ____ 3,000,0 9,337,5 68,643,0 16,535,0 3,403,0 75,986,026.2 East River____ 250,0 125,0 1,222,8 305,0 148,3 1,472,830.7 Fourth _______ 3,000 ,0 3,370,4 21,393,0 4,923,0 1,476,0 22,732,028.1 Second _______ 1,000,0 1,636,0 10,038,0 2,399,0 404,0 10,424,026.8 First ___ ______ 10.000,0 19,533,9 109,756,0 23,157,8 1,043,5 95,959,025.2 Irving at. Ex . 2,000,0 1,234,3 16,911,3 2,562,2 1,505,1 15,996,9 25.4 Bowery ______ 250,0 785,0 2,924,0 730,0 88,0 3,440,023.7 . Y. County __ 500,0 1,113,7 7,267,2 1,068,8 534,3 6,985,922.9 German -Amer_ 7-50,0 626,0 3,673,7 855,8 168,3 3,529,429.0 Chase_________ 5,000,0 5,252,9 73,157,8 16,415,0 1,946,1 75,271,324.3 FHth Avenue__ 100,0 1,924,4 12,537,8 2,459,2 1,364,8 14,086,627.1 German Exch __ 200,0 879,4 3,618,9 230,0 760,0 4,360,6 22.7 Germania_____ 200,0 966,9 5,173,2 862,1 365,0 5,784,821.2 Lincoln_______ 1,000,0 1,131,2 13,825,5 2,719,1 1,103,8 15,674,824.4 Garfield_______ 1,000,0 1,3 9,8 6,480,0 1,230,9 224,1 6,115,823.7 Fifth-- - -----250,0 431,2 3,018,8 609,7 232,4 3,169,926.2 Metropolis ____ 1,000,0 1,743,9 10,140,9 1,178,6 1,602,4 10,234,527.1 West Side_____ 200,0 705,7 ~3.831,0 717,0 274,0 4,169,023.7 Seaboard______ 1,000,0 1,533,1 17,916,0 5,496,0 938,0 21,846,029.4 Liberty_ ____ __ 1,000,0 2,424,7 14,315,8 2,540,1 857,1 12,875,726.3 N.Y. Prod. Ex. 1,000,0 646,3 5,278,0 1,567,8 177,1 6,137,928.4 State_________ 1,000,0 858,6 11,357,0 2,396,0 171,0 12,536,020.5 Fourteenth St_ 1,000,0 377,4 3,398,5 240,4 747,5 3,559,927.0 Totals, average 124,350,0 159,561,1 1139,755,7 254,081,3 60,097,0 1137,384,5 27.6 a ------1 -----------------------Actual figures Feb.8 ___________ 1135,737,8 252,154,7 61,146,81131,691,0 27.7 Dec. 26 1908. Bank or N. y __ Manhattan Co. Merchants, ___ _ Mechanics' ___ _ America _____ _ Phenix ______ _ City ---- - - - - ---- - - - - - - - - 2,000,0 2,050,0 2,000,0 3,000,0 1,500,0 1,000,0 3,382,8 3,479,7 1,645,0 3,716,3 5,032,4 620,1 25,000'0 25,531,3 19,995,0 3,905,0 1,154,0 37,550,0 10,962,0 1,669,0 18,820,0 3,374,0 1,763,0 28,342,0 5.386,0 1,968,0 27 ,274,6 4,323,7 3,179,0 7,314,0 1,358 ,0 353,0 182,754,4 41,842,1 8,240,0 18,526,027.3 46,200,027.3 19,567,026.5 29,078,0 25.3 29,374,0 25.5 6,519,026.8 183,890,127.5 ChemlcaL ____ _ 3,000,0 5, 32,2 29,726,0 5.904,8 1,834,9 29,344,026.3 600,0 533,0 6,594,7 1,295,0 458,l Merchants' Ex_ 6,838,0 26 .1 Gallatin ______ _ 1,000,0 2,418,9 9,527,0 1,125,6 743 ,4 7,528,125 1 300,0 150.3 2,178,5 649,2 67,1 2,429,029 .3 Butch. & Drove Greenwich ___ _ 500,0 733,7 6,695,9 1,795,9 200,0 7,582,226.4 Amer. Exch __ _ 5,000,0 4,968,0 30,574,4 4,970,2 1,251,4 24,147 ,1 26 .0 Commerce ____ _ 25,000,0 15,546,3 156,601,9 23,579,6 11,414,3 137,330,125.7 Mercantile ___ - 3,000,0 2,521,7 12,389,6 1,592,5 787,0 8,818,527 .3 Pacific ______ _ 500,0 852,4 3,355,9 881,2 471,3 3,541,6 38.1 Chatham ____ _ 450,0 1,009,1 6,855,8 834,6 1,138,2 7,325,227 .1 People's _____ _ 200,0 466,5 1,854,3 510,0 65,2 2,325,2 24.7 Hanover _____ _ ·3,000,0 9,989,6 65,943,7 10,144,5 10,234,1 77,316,6 26.6 2,550,0 1,400,7 22,831,4 5,507,0 324,8 22,886,0 25,7 Citizens' Cent__ assau ______ _ 500,0 392,3 4,730,1 416,1 853,3 5,047,425.1 1,000,0 1,619,9 7,979,3 1,492,0 1,061,8 8,477,930.2 Market & Fult'n Metropolitan __ 2,000,0 1,207,5 11,381,3 2,970,6 195,1 11,697,627.0 Corn Exchange 3,000,0 5,241,2 43.154,0 6,650,0 5,746,0 50,169,024.7 1,500,0 7.416,4 2 , 29,2 5,178,0 1,647,0 27,20(),7 25.2 lmp. & Traders' Park ________ • 3,000,0 9,584,6 7,079,0 25,084,0 1,439,0 100,440,026 .4 East River_. __ 250,0 100,3 1,331,9 331,6 188,8 1,608,932.2 Fourth ______ _ 3,000,0 3,363,1 25,277,0 3,933,0 2,700,0 26,187,025.4 Secon!! ______ _ 1,000,0 1,753,0 11,014,0 2,820,0 334,0 12,013,0 26.2 First,- _____ -- - 10,000,0 17,072,2 129,341,9 34,423,3 1,796,4 134,489,727.1 lrvlng Exch __ _ 2,000,0 1,375,2 18,947,2 4,573,9 902,7 20,404,826.9 Bowery _____ _ 250,0 792,1 2,216,5 758,0 71,0 3,270,0 25.3 N. Y. County __ 500,0 1,137,4 7,465,5 1,393,0 696,5 8,145,226.4 750,0 655,0 3,938,2 819,1 234.9 German -Amer_ 3,821,227.5 Chase ________ _ 5,000,0 5,617,5 73,952,6 15,517,6 4,704,7 81,029,725.1 Fifth Avenue __ 100,0 2,10 ,1 12,904,7 2,883,4 994,0 14,721,0 26.3 German Exch __ 200,0 92,5 3,368,7 380,2 670,7 4,190,6 25.0 Germanla ____ _ 200,0 993,6 4,707,4 735,8 669,7 5,470,425.7 Lincoln ______ _ 1,000,0 1,278,2 16,391,1 3,612,8 1,072,4 18,266,8 25.7 Garfield- _____ _ 1,000,0 1,137,4 7,279,3 1,547,5 528,0 ~7.444,4 28.2 250,0 · 464,4 3,215,5 453,3 330,0 rJ,265,9 24.2 Fifth--------Metropolis ___ _ 1,000,0 2,000,3 12,257,8 2,144,5 1,053,0 12,703,625.1 West Side. ___ _ 200,0 929,5 4,117,0 954,0 252,0 4,583,026 .3 Seaboard _____ _ 1,000,0 1,665,1 20,147 ,0 5,419,0 1,458,0 24,547 ,0 28.1 Liberty ______ _ 1,000,0 2,512,0 15,648,6 3,572,5 278,3 14,897 ,5 26.1 1,000,0 670,6 6,956,0 1,903,8 140,1 8,116,025.1 N. Y. Prod. Ex. State ________ _ 1,000,0 827,7 10,454,0 3,463,0 247,0 13,681,027.1 14th Street ___ _ 1,000,0 319,8 4,860,4 961,3 509,3 5,502,5 26.7 Copper ______ _ 2,000,0 2,490,8 20,621,0 4,866,4 173,2 20,194,4 25.1 - - - - - - - - - - ------- Totals, average 126,350,0 165,447 ,7 1276,745,3 269,198,6 78,262,7 1322,151,9 26.4 Actual figures Dec. 26_ . 1264,616,8 267,577,677,333.7 1306,566,5 26.5 a Unlted States dePoBlts Included, 59,675,100 Feb. 8 and $9,265,500 Dec , 26 _::, CROP AND OTHER P .R ODUCTIONS. CEREALS, IRON AND COAL PRODUCT. OUR HA.RVEST TN 1908. In the case of all the leading products, the 1908 grain crops are greater than those for the preceding year, but quite generally less than in 1906-a remark, moreover, that applies to almost all products of our farms. At the same time the increases over the previous season are in most instances materially less than were anticipated early in the season. The corn crop, our leading cereal in volume of yield, reached, according to the final estimate, 2,668,651,000 bushels, an aggregate exceeding that for 1907 by only 76 million bushels, but exceeded by 259 millions in 1906 and by 39 millions in 1905. Moreover, the current yield is only 2 million bushels more than the corrected total for 1 99 reported by the Census Bureau. As to the wheat crop of 1908, it exceeds that for the previous year by 30½ millions of bushels, but falls behind the total for 1906 by nearly 71 millions, and exhibits a decline of over 28 millions from the yield of 1905. The spring-wheat product at 226,694,000 bushels was very moderately greater than that of 1907 (224,645,000 bushels), but shows diminution from the outturn of either 1906 or 1905, when 242,372,966 bushels and 264,516,655 bushels, respectively, were raised. Winter wheat did better, relatively, the current year's yield, which is now reported as 437,908,000 bushels, comparing with 409,442,000 bushels a year ago,· 492,888 1004 bushels in 1906 and 428,462,834 bushels in 1905. Combining the two varieties, we have a total wheat crop for 1908 of 664,602,000 bushels, against 634,087,000 bushels in 1907, 735,260,970 bushels in 1906 and 692,979,489 bushels in 1905. And, furthermore, this year's yield was exceeded in 1902, 1901 and 1898. The oats crop, while of course moderately in excess of 1907, furnished the real disappointment of the season, the yield having been appreciably less than in a number of earlier years, when the area was considerably lower. The Department makes the crop for the current season 807,156,000 bushels, or 52¾ millions more than in 1907. Compared with 1906, however, there is a falling off of 157¾ millions of bushels. Barley reached its record production in 1906, when, according to the final estimate of the Department of Agriculture, 178,916,484 bushels were produced. This season's yield, at 166,756,000 bushels, therefore, is, with that exception, the largest, and contrasts with 153,597,000 bushels in 1907. Rye exhibits merely a nominal increase in yield this year as compared with the previous season. To indicate the aggregate yield each year for the last five seasons of the five cereals referred to (corn, wheat, oats,barley and rye), we have compiled the subjoined table: The total production of the five leading grain crops is here seen to have been 4,339 1016,000 bushels in 1908, against 4,166,013,000 bushels in 1907, 4,839,872,900 bushels in 1906, 4,518,456,291 bushels in 1905, 4,081,459,522 bushels in 1904 and 3,827,317,766 bushels in 1903. The better showing this year than last (when the yield was so disappointing) is so moderate as contrasted with the increasing need of cereal products to meet the constantly augmenting consumptive requirements I that it furnishes little cause for gratification. Acreage considered, 1907 was a year of low average product, and it is to a further increase in area in 1908 that the additional yield above indicated is more largely due than to greater average productiveness. In fact, from an additional area of 2.7% under the five ·above enumerated crops, the gain in product was 173 million bushels, or only about 4½%- Furthermore, on the basis of the combined acreage of the five mentioned cereals, the general average product in 1908 has been well below the normal of recent years. It figures out 22 .8 bushels per acre, or a little better than in 1907, but compares with 26.4 bushels two years ago, 25.6 bushels in 1905 and 23 .8 bushels in 1904. The estimated production of potatoes for 1908, given by the Department at 278,985,000 bushels, is not only less by 19 millions of bushels than in 1907, but falls behind 1906 by 29 millions and was exceeded in 1904 and 1902 and as far back as 1895. The crop was also of poorer quality, reducing its value as food. The yield of rice in 1908 apparently marked a record in the production of that cereal in the United States. It is given as 21,890,000 bushels, against 18,738,000 bushels in 1907, 17,854,768bushels in 1906 and the previous record of 21,096,038 bushels in 1904. Hay is another crop the outturn of which in 1908 has been in excess of that for any former year, reaching 70,798,000 tons, against 63,677,000 tons in 1907 and 57,145,959 tons in 1906. The Department's final estimate of the tobacco product of the country in 1908 is materially greater than the preliminary approximation given out in November, but the crop, nevertheless, falls behind that for any year from 1900 to 1903 inclusive, on account of the much smaller area planted. The yield is stated at 718,061,000 pounds, against 698,126,000 pounds in 1907 and 682,428,530 pounds in 1906. The Department, in addition to estimating the crops quantitatively, also attempts to fix their value to the producer on the basis of the farm value per bushel, &c., on Dec. 1. We gave a table last year covering those values for the five principal grain crops for five years, and continue it this year. CROPS OF WHEAT. CORN. OATS, BARLEY AND RYE. Total Proctuclum. 1908. 1907. 1906. 1905. FARM VALUES ON DECEMBER I. 1904. Crops. 1908. 1907. 1906. 1905. 1904. Bushels. Bushels. Bushels. Bushels. Bushels. 2,668.651,000 2,592,320,000 2,927,416,091 2,707,993,540 2,467,480,934 664,602,000 634,087.000 735,260,970 692,979,489 552,399,517 807,156,000 754,443,000 964,904,522 953,216,197 894,5115,552 166,756,000 153,597,000 178,916,484 136,651,020 139,748,954 31,851,000 31,566,000 33,374,833 27,234,565 27,616,045 Corn ______ 1,616,145,000 1,336,901,000 1,166,626,479 1,116,696,738 1,087,461,440 Wheat ___ 616,826,000 554,437,000 490,332,760 518,372,727 510,489,874 Oats ______ 381,171,000 334,568,000 306,292,978 277,047,537 279,900,013 Barley ___ 92,442,000 102,290,000 74,235,997 55,047,166 58,651,807 Rye ______ 23,455,000 19,671,243 23,068,000 17,414,138 18,748,322 TotaL __ 4,339,016,000 4,166,013,000 4,839,872,900 4,518,456,291 4,081,459,522 Total ___ 2,730,039,000 2,351,264,000 2,057,159,457 1,984,578,306 1,955,251,456 Corn ______ Wheat ___ Oats ______ Barley ___ Rye ______ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $ $ 44 CROP A D OTHER PRODUCTIO S. The average farm values on Dec. 1, as reported by the Department in each of the last six years, for some of the leading crops, are set forth in the subjoined table. AVERAGE PRICES RECEIVED BY FARMERS AND PLANTERS. 1908. 1907. 1906. 1905. 1904. 1903. Cents. Cents. 87.4 73 .1 44.3 66 .6 51.6 69.8 61.7 95.6 85.8 Cents. Cents. Cents . Cents. 66 .7 58 .9 31.7 41.5 39.9 59.6 51.1 101.3 90.3 74.8 60.7 29.l 40 .3 41.2 58.7 61.7 92.4 68.8 31.3 42.0 44.1 62.2 45.3 99.3 65.8 69.5 54.5 34.1 45.6 42.5 60.7 61.4 81.7 Wheat ____ ____ per ~~shel 92.8 Rye ______ _- _73.6 47.2 Oats Barley _______ _ 55.4 60.6 Corn Buckwheat ___ _ 75.6 Potatoes _____ _ 70 .6 Flaxseed _____ _ 118.4 Rice __ _______ _ 81.2 84.4 95.0 In addition to these, the farm value of hay Dec . 1 is given as 8 98 per ton, against $11 68 per ton last year, $10 37 in 1906 and 8 52 in 1905, and tobacco at 10.3 cents per pound this year compare with 10.2 cents in 1907, 10 cents two y ears ago and .5 cents in 1905 . We now apperd a table showing the wheat, corn, oats, cotton and potato crops for the last 27 years1882 to 1908, inclusive-thus giving opportunity for the reader to see at a glance the comparison the 1908 figures make with those for a more extended period of years than in the compilations given further above. CROPS OF WHEAT, CORN, OATS, POTATOES AND co~o~ SINCE 1881. WHEAT CROP F OR FIVE YEARS. Wheat . Ohio Indiana ___________ Minnesota _________ Kansas _________ ___ California _______ __ . Illinois __ ______ ____ North Dakota ______ South Dakota _____ _ MlssourL _____ _____ Michigan _______ ___ Pennsyl vanla ______ Oregon ____________ Wlsconsn ____ _____ Nebraska ______ ____ Washington _______ Iowa ______________ Productton , Production , Production, Productto'lt, Production, 1908. 1907. 1906. 1905. 1904. Bushels . Bushels. Bushels. Bushels. Bushels. 33,328,000 45,169,000 68,557,000 79,282,000 11,680,000 30,212,000 68,428,000 37,862,000 ~~.260,000 15,732,000 29,415,000 15,148,000 3,328,000 44,295,000 27,162,000 8,068,000 30,677,000 34,013,000 67,600,000 65,609,000 20,520,000 40, 104,000 55,130 ,000 32,4 0,000 29,212,000 12,731,000 30,095,000 15,265,000 2,955,000 45,911,000 35,045,000 7,653,000 43,202,100 48,080,925 55 ,80 1, 591 8 1,830 ,611 26 ,883,662 38,535,900 77,896,000 41,955 ,400 31,734,900 13,644,960 29,073,188 14,215,597 4,690,816 52,288,692 25,075,258 9,2 12,218 32,197,710 35,351,464 72,434,234 77,001,104 17,542,013 29,951,584 75,623,044 44,133,481 28,022,338 19,003 ,274 27,860,671 13,382,585 7,893,381 48,002,603 32,516,810 13,683,003 17,563,478 12, 525 ,993 68 ,344,256 65,019,471 17,474,864 21,542,421 53,892,193 31,556,784 27,163,141 6,873,005 21,857,961 14,050,193 7,483,563 31,453,943 32,140,603 11 ,266,220 TotaL ___________ 539,926,000 525,000,000 594,121,818 574,599,290 440,208,089 All others __________ 124,676,000 109,087,000 141,139,152 118,380 ,190 112,191,428 Total United States a 664,602,000 634,087,000 735 ,260,970 692,979,489 552,399,517 a Ot which 437,908,000 bushels winter wheat and 226,694,000 bushels spring wheat In 190 , against 409,442,000 bushels winter wheat and 224,645,000 bushels spring wheat In 1907. THE COUNTRY\"1 SMALL RAIL OUTPUT IN 1908. If any one wants an illustration going to show the intimate connection existing between prosperity or Wheat . Corn . Year. I Oats. I cou=.• Potateos. adversity in the railroad transportation field and prosBushels. Bushels. Bushels. Bushels. Bales. 1,617,025,100 488,250,610 6.9112,23~ 170,972,508 perity or adversity in the iron and steel industry and 1882 ------ 504,185,470 1,551,066,895 571,302,400 5,714,052 208,164,425 1883 ----- - 421,086,160 1,795,528,000 583,628,000 5,669,021 190,642,000 1884 --- - -- 512,765,000 1,936,176,000 629,409,000 6,550,215 175,029,000 trade in general , he will find it in the figures of steel 1885 ------ 357,112,000 1, 665,44 1,000 624,134,000 6,513,623 168,051,000 1886 ------ 457,218,000 1,456,161,000 7,017,707 134,103,000 rail production furnished by Mr . James M. Swank of 659,618,000 1887 ------ 456,329,000 1,987,790,000 701,735,000 6,935,082 202,365,000 1888 ------ 415,868,000 1889 _____ J 490,560,000 2,112, 92,000 751,515,000 r,313.720 204,881,441 the American Iron & teel Association. In a subse2,122,327,547 809,250,666 217,546,362 1889 (Cen)"l 1 468,373,968 1,489,970,000 523,621,000 8,655,616 148,289,696 quent article we review Mr . Swank's figures of pig iron 1890 ------ 399,262,000 73 ,394,000 9,038,708 254,423,607 1891 ------ 611,7 0,000 2,060,154,000 1,628,464,000 661.035,000 6,717,147 156,654,819 production and show how complete was the collapse in 1892 ------ 515,949,000 1893 ------ 396,131,725 1,619,496,131 638,854, 50 7,527,212 183,034,203 1,212,770,052 662,086,92 9,892,761 170,787,338 1894 ------ 460,267,416 190 in the pig iron trade . In that case we are dealing, 1895 ------ 467,102,947 2,151,138,580 824,443,537 7,162,476 297,237,370 2,283,875,165 707,346,404 ,714,011 252,234,540 1896 ------ 427,684,347 of course, with very much laro-er totals, but the results 1,902,967,933 698,767, 09 11.l 0,960 164,015,96-1 1897 ------ 530,149,168 1,924,184,660 730,905,643 11 ,235,3 3 192,306,33 1898 ------1 1899 ___ __J 675,148,705 547,303,846 2,078,143,933 796,177,713 } 9,439,559 228,783,232 are not so conclusive on the point in question as where 2,666,440,279 943,389,375 1899 (Cen)l. 658,534,252 1900 ------ 522,229,505 2,105,102,5 16 809,125,9 9 10,425,141 210,926,897 we deal simply with the rail output . The aggregate 1901 a _____ 748,460,218 1,522,519,891 736,808,724 10,701,453 187,598,087 987,842,712 10,758,326 2 4,632,7 7 make of pig iron covers all the various purposes for 1902 ------ 670,063,008 2,523,648,312 2,244,176,925 784,094,199 637,821,835 10,123,686 247,127,8 0 1903 -----1904 ------ 552,399,517 2,467,480,934 894,595,552 13,556,841 332,830,300 which the metal is used . On the other hand rails are 953,216,197 11,319,860 260 ,741 ,294 1905 --- --- 692,979,489 2,707,993,540 964,904,522 13,550,760 30 ,03 ,3 2 1906 ------ 735,260,976 2,927,416,091 u eel by the railroads alone, and therefore the falling 2,592,320,000 754,443,000 11. 581.329 297,942,000 1907 ------ 634,087,000 1908 ______ 664,602,000 2,668,651,000 807,156,000 d 13321000 278,985,000 off in their output can be ascribed to no outside causes a These are the revised grain figures or the Agricultural Department Issued after It shows unmistakably that the railthe Census reported Its results tor 1899 , showing much larger totals than those or or influences. the Department. * These are our own figures. d Average estimate or th.: roads were in a bad way . The truth is, they were in members or the New York Cotton Exchange. For the information of the reader, the product by no condition to buy rails except to meet their most States for the leading cereal crops is herewith presented . urgent needs. Consequently, a tremendous shrinkage _ _ _ _ _ __ _ C_O_R_N_C _ R_O_P_FoR FIVE YEAR_S_. _ _ _ _ _ __ occurred in the purchases of rails, and yet more in Production, I Production, Production, Productton, Production, Com. the orders for rails, for not a little of the 1908 rail pro1908. 1907. 1906. 1905. 1904. duction, small though it proves to have been, mu t, we Bushels. Bushel.a. Bushels. Bushels. Bushels. Iowa_____ 287,4b6,000 270,220,000 373,275,000 305,112,376 303,039,266 Illinois____ 298,620,0u 342,756,000 347,169,585 382,752,063 344,133,680 should judge, represent orders given in the previous Kansas --156,200,000 155,142,000 195,075,000 193,275, 36 134,609,669 We~ia~a-= ~&tm:888 m:m:888 ~~tm:~gg ~tm:~~~ ~~i:m:g~~ year before railroad managers had any inkling of the Indiana __ 137,835,000 168 ,840,000 183,893,767 1 7,130,623 143,396,857 prodigious slump in earnings which was to ensue during Ohio ____ __ 136,675,000 117,640,000 141,645,100 112,399,396 99,628,555 Texas_____ 201,848,000 155,589,000 155,804,7 2 139,146,404 136,702,699 190 . Tennessee _ 83,080,000 78,364,000 86,428,912 77,207,912 80,890 ,025 Kentucky_ 84, 23,000 93,060,000 105,437,376 94,893,638 86,815,580 Mr. Swank reports the production of all kinds of Penn'a____ 57,275,000 45,922,000 57,960,239 56,085,903 48,535,748 Arkansas__ 54,035,000 43,430,000 52,802,569 38,323,738 48,332,614 Wisconsin 49,674,000 46,688,000 60,105,732 55,407,849 45,119,913 rails in the United States in 1908 at only 1,921,611 Michigan__ 60,420,000 57,190,000 54,575,000 41,775,936 36,990,46 Minnesota_ 46, 35,000 43,605,000 50,149,2771 48,997,455 41, 09,0 3 tons, against 3,633,654 tons in 1907, the decrea e, Oklahoma_ 122,239,000 113,265,000 134,230,590 110,442,368 102,636,6 6 The Total ___ 2,186,416,000 2,152,064,000 2,476,857,929 2.309,798,037 2,065,105,816 therefore, being 1,712,043 tons, or over 47 % . All others_ 482,235,000 440,256,000 450,55 ,162 39 ,195 ,4 73 j 402,375,118 falling off in Pennsylvania amounted to 637,745 tons Total U.S. 2,668,651,000 2,592,320,000 2,927,416,091 2,707,993,540 12,467,480,934 and in the remainder of the country to 1,074,29 tons. 1 OATS CROP FOR FIVE YEARS . But 1907 itself had recorded some decline, and if comProdu.ctton , Production, Produclt()M., Production, Productton, parison be made with 1906, the contrast becomes yet Oats. 1907. 1906. 1908. 1905. 190-1. more striking. In that year the country's production Bushels. Bushels. Bushels . BusheJ.s. Bushels . Illinois ___________ - 94,300,000 101,675,000 107,763,500 132,779,762 117,341,952 of rails fell but little short of 4,000,000 tons, the Iowa ____ ________ _ - 110,444,000 108,900,000 140,777,000 131,115,180 122,323,200 Minnesota _________ 59,004,000 61,985,000 72,011,160 80,669,700 85,178,503 precise total being 3,977,887 tons. As compared with Wisconsin _________ 73,085,000 51,700,000 91,630,000 98,579,988 86,734,515 Kansas _____ --- - - - - 21,868,000 16,380,000 24,780,000 23,248,223 16,955,0 7 this output only two years before, the 1908 total, at Ohio ------------- 38,544,000 36,480,000 48,380,000 37,993,108 49,733,541 Missouri ___________ 13,510,000 14,254,000 14,685 ,503 19,684,8 5 16,265,549 Pennsyl vanla ______ 27,382,000 29,689,000 31.816,496 39,4 0,324 39,761.81 1,921,611 tons, reflects a shrinkage of over 50o/o. New York _________ 37,625,000 37,086,000 40,233,784 43,030,782 42,480,143 Michigan __________ 41,847,000 30,534,000 43,747,500 35,948,951 32,175,665 Furthermore, the 1908 output is the smallest since Nebraska __________ 56,078,000 51,490,000 72,275,000 58,474,370 57,90 ,4 9 Indiana ___________ 35,425,000 36,683,000 50,196,000 47,432,822 42,35 ,732 1897. In other words, we would have to go back North Dakota ______ 32,737,000 32,340,000 40,485,608 46,594,381 31,010,360 South Dakota ______ 31,395,000 32,728,000 46,410,000 28,103,517 27,825,252 eleven years to find so diminutive an output . 9,500,000 31, 22,512 21,675,000 28,713,416 28,688,320 Texas ----------- If now we advert to railroad curtailment in one or Total ____________ 694,919,000 65 1,424,000 857,014,063 851, 49,409 796,740,526 All others _____ - - - - - 112,237,000 103,019,000 107, 90,459 101,366,7 8 97,855,026 two other p directions, we cannot fail t;o become Total United States_ 807 ,156,000i754,443 ,000 964,904,522 j953,216,197 894,595,552 impressed wit the part which prostration in the I https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I 45 CROP A D OTHER PRODUCTIO S. railroad industry has played in bringing on and intensifying depression in the iron and steel industry. In a very comprehensive article in the issue of our "Railway and Industrial" Sectron for J an . 30 1909, dealing with Railway Construction and Betterment Work in 1908, we pointed out that, while the railways of the United States, Canada and Mexico in 1907 had spent well over $475,000,000 for equipment which they bought (excluding the comparatively insignificant output of the shops of the railways themselves), the corresponding expenditures for 1908 aggregated probably not much over $130,000,000. This, it will be observed, is a tremendous shrinkage. The number of locomotives built in 1908 was only 2,342, as against 7,362 in 1907. The number of freight cars built is estimated at only 78,000, against 290,000. Considering the numerous other directions in which there was a forced curtailment by the railroads in new construction and improvement work, it can readily be seen in what great measure the falling off in Bessemer steel production, to which we shall presently;~refer, and the complete collapse in the iron industry , must be ascribed to the absence of railroad orders. As far as rail production is concerned, the falling off in total output has occurred in face of a decided expansion in the make of rails out of open-hearth steel. It appears that the output of open-hearth steel rails in 1908 was 567,304 tons, against only 252,704 tons in 1907, the increase being 314,600 tons, or more than 124% . On the other hand, the Bessemer rail production in 1908 was only 1,354,236 tons, as against 3,380,025 tons in 1907, a decrease of 2,025,789 tons, or nearly 60 % . The 1908 Bessemer steel rail product was in fact the smallest since 1896, a dozen years before, when 1,116,958 tons were rolled. The rail mills in Pennsylvania are credited with an output of only 315,563 tons of Bessemer rails in 1908 against 1,093,932 tons in 1907 and 1,298,409 tons in 1906, and the other rail-producing States with a total of 1,038,673 tons, as against 2,286 ,093 tons in 1907 and 2,493,050 tons in 1906 . It is noteworthy that not only was the home consumption of rails so greatly reduced, but there was also a large shrinkage in our exports of rails. The United States shipped only 196,510 tons of rails to foreign countries in 1908, as against 338, 906 tons in 1907, 328,036 tons in 1906, 295,023 tons in 1905 and 416,250 tons in 1904 . In the following statement we undertake to show the home consumption of rails after allowing for the imports and exports of rails. RAIL PRODUCTIO- AND CONSUMPTION. 1908. Bess. rails. produced, tons_l,354 ,236 Other rails, iron and steeL _ 567,375 1907. 3,380,025 253,629 1906. 3,791,459 186,428 1905. 3,192,347 1 3,5 2 1904 . 2,137,957 146,754 Total productlon _______ l ,921,611 Imports, Iron and steeL __ 1,719 3,633,654 3,752 3,977,8 7 4,943 3,375,929 17,278 2,284,711 37,776 1,924,330 196 ,510 3,637,406 338,906 3,982,830 328,036 3,393,207 295,023 2,322,487 416,250 Home consumption ____ l,727,820 3,298,500 3,654,794 3,098,184 1,906,237 Exports, Iron and steeL __ It will be seen that the home consumption of rails in 1908 was only 1,727,820 tons, against 3,298,500 tons in 1907 and 3,654,794 tons in 1906. Turning now to the production of Bessemer steel, we find a shrinkage in output as striking as that in the case of rails. Time was when Bessemer steel production constituted the greater portion of the country's total steel production. But that is no longer the case. Open-hearth steel production has made such tremen https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis dous strides in recent years that in 1907 the make of open-hearth steel fell only 118,461 tons below that of Bessemer steel. What the open-hearth production was in 1908 cannot be stated in the entire absence of official figures of any kind. These official figures will be awaited with great interest. Undoubtedly a considerable shrinkage occurred. In the Bessemer output the shrinkage was of huge proportions, doubtless due to the fact that Bessemer steel goes so largely into the production of rails and into railroad work generally . According to Mr. Swank's figures, the aggregate production of Bessemer steel ingots and castings in 1908 was only 6,116,755 tons, against 11,667,549 tons in 1907, a decrease of 5,550,794 tons, or over 47 % . But 1907 itself had registered a decrease from 1906, and as compared with the latter year the loss has been over 50%, the comparison being 6,116,755 tons, as against 12,275,830 tons. As in the case of the country s total rail production, the output of Bessemer steel in 1908 was the smallest since 1 97, eleven years before, when 5,475,315 tons were made. In the following we show the production of Bessemer steel by States for the last six years . PRODUCTION OF BESSEME R STEEL INGOTS BY STATES. Gross Tons1908. P en nsylvania __ _2,106,382 Ohio __________ l,955,446 Illlnols _________ l ,237 ,747 Other States ____ 817 ,180 1907. 4,351,841 3,636,679 1,723,073 1,955,956 1906. 4,827,725 3,769,913 1,684,772 1,993,420 1905. 4,491,445 3,131,149 1,651,250 1,667,531 1904. 1903. 3,464,650 3,909,436 2,050,115 2,330, 134 1,257,190 1,366,569 1,087,185 986,690 Total ____ ___ _6,116,755 11,667,549 12,275,830 10,941,375 7,859,140 8,592,829 In Pennsylvania the decrease from 1907, it will be observed, was no less than 2,245,459 tons, or over 51 % ; in Ohio, 1,681,233 tons, or over 46%; in Illinois, 485,326 tons, or over 28% , and in the remaining tates, 1,138,776 tons, or over 58% . The railroads, as we have seen, have been chiefly responsible for these shrinkages, and the railroads again were the chief sufferers from the same, inasmuch as in the assembling of the materials for the making of the steel and the distribution of the :finished product these shrinkages involved very heavy reductions in railroad traffic, accounting for the prodigious losses in earnings for which 1908 will ever be noteworthy. THE FALLING OFF IN IRON PRODUCTION. Mr. Swank's statistics regarding iron production in the United States confirm the estimates of private authorities and show an unprecedented decrease in output. In a preceding article treating of the Besse mer steel production and the make of rails, we show that the collapse in the iron trade followed mainly as the result of the unparalleled adversity experienced by the railroad carrying industry. The industrial depression from which the country suffered in 1908 is commonly attributed to the panic of October and November of the preceding year. The depression certainly succeeded the panic, but the panic, in the first instance, was occasioned by the legislative and governmental crusade against railroads and corporations generally and against capital and wealth, destroying confidence in security values and bringing about a tremendous depreciation in the market value of the same. The result was that the railroads and other large corporations could no longer raise new capital except on exceedingly onerous terms, and were hence forced to cut down new work to 46 CROP AND OTHER PRODUCTIONS. the lowest possible nnmmum. Stated in brief they were unable to give orders on the old scale for equipment, for rails, and for the hundreds of other things needed in the carrying on of new construction work and in the making of improvements and betterments. This curtailment of work and cutting off of orders reduced mills, factories and furnaces wholly or in part to idleness, and this in turn diminished the traffic of the railroads, bringing about unprecedented losses in earnings. These losses necessitated still further curtailment of expenditures, as they made reductions in the ordinary expenses of the roads imperative, thereby intensifying the depression in trade which was occasioned in the first instance by the diminution in the orders of the railroads for materials and supplies -all resulting from the legislative and governmental crusade. According to the official figures, the production of all kinds of pig iron in the United States in 1908 was 15,936,018 tons, as against 25,781,361 tons in 1907. The decrease, it will be observed, was almost 10 million tons-actually 9,846,343 tons, or over 38% . The total was the smallest of any year since 1901, when the make of iron was 15,878,354 tons, In the second half of the year some improvement occurred; the make for that six-months period was 9,018,014 tons, as against only 6,918,004 tons in the first six months. The subjoined table shows the production in half-yearly periods for each of the last twelve years. PRODUCTION OF PIG IRON IN HALF-YEARLY PERIODS. Gross Tons. 1897-lst halt ______________ _4,403,476 2d . hil.lL ______________ 5,249 ,204 1898-lst halL---------- - ---5,869,703 2d halL ______________ 5,904,231 1899-lst half_ _____ ------ -- _6,289,167 2d half_ _____________ _7,331,536 1900-lst ha!L----------- ___ 7,642,569 2d ha!L ______________ 6,146,673 1901-lst haJL __ ----------- _7,674,613 2d haJf_ ______________ 8,203,741 1902-lst half_ _____________ 8,808,574 2d half_ _____________ 9,012,733 1903-lst 2d 1904-lst 2d 1905--lst 2d 1906-lst 2d 1907-lst 2d 1908-lst 2d Gross Tons. half_ _____________ 9,707,367 halL ___ ______ ____ 8,301,885 halL __ ___________ 8 ,173,438 halL _____________ 8,323,595 half__ -- --- _______ ll,163,175 halL __ - _- ________ ll,829,205 halL _____________ 12,582,250 halt_ _____________ 12,724,941 halL ----------- __ 13,478 ,044 half_ _____________ l2 ,303,317 halt_ _____________ 6,918,004 halt_ _____ ________ 9,018,014 In the case of the separate States the losses in all instances were of large proportions. There was not a single State, even among those producing only minor amounts of iron, that had a larger output in 1908 than in 1907. Pennsylvania is credited with only 6,987,191 tons, as against 11,348,549 tons; Ohio with 2,861,325 tons, against 5,250,687 tons; Illinois with 1,691,944 tons, against 2,457,768 tons. In the South the comparison is much the same, though Alabama came much closer to its previous year's output than any of the other large producing States, having made 1,397,014 tons, against 1,686,674 tons. For all the Southern States combined, however, including Alabama, the comparison is 2,326,792 tons, against 3,445,221 tons. PRODUCTION OF PIG IRON BY STATES. Tons 2,240 lbs. SOU/,h. .states. Ala __ Va __ Tenn.. w.va Ky -Ga -N. C_ Texas. Md -- 1908. 1907. 1906. 1905. 1904. 1903. 1902. Tons . Tons. Tons. Tons. T<Fns. Tons . Tons. 1,397,014 1,686,674 1,674,848 1,604,062 1,453,513 1,561,398 1,472,211 310,526 537,216 510,210 544,034 483,525 478,771 320,458 392,778 418,368 426,874 302,096 372,692 393,106 290,826 270,945 183,005 199,013 291,066 298,179 304,534 66,551 102,441 37,106 63,735 110,725 98,127 127,946 45,096 32,315 75,602 1 70,156 l 92,599 55,825 38,699 J f 24,345 11,653 5,530 3,095 J 293,441 303,229 332,096 324,570 411,833 386,709 183,502 TotaL 2,326,792 3,445,221, 3,467,216 3,219,673 2,743,313 3,237,079 3,034,574 Penn .. Ohio_ N. y_ N.LIllln __ Mich.a Wlsc.b Mo.c _ Ma.ssd 6,987,191 ll,348,54911,247 ,869 10,579,127 7,644,321 8,211,500 8,117,800 2,861,325 5,250,687 5,327,133 4,586,110 2,977,929 3,287,434 3,631,388 401,369 552,917 605,709 1,019,495 1,659,752 1,552,659 1,198,068 262,294 191,380 311,039 211,667 379,390 373,189 225,372 1,691,944 2,457,768 2,156,866 2,034,483 1,655,991 1,692,375 1,730,220 244,709 233,225 155,213 288,704 369,456 436,507 348,096 210,404 322,083 273,987 351,415 283,516 373,323 148,938 270 ,289 151,776 269,930 407,774 413,040 468,486 313,071 12,071 15,446 15,987 17,766 20,239 19,119 13,794 Gr Tot 15,936,018 25,781,361 25,307,191 22,992,38016,497,03318,009,252117,821,307 o!~~ug!fifo;~i'.a~·1nt1~~~db~~1:~~~~~ta. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis cincludlng Colorado, Washlni· In the case of the imports and exports, the decreases were also very large. We have reference not merely to pig iron alone, but to the shipments and imports of all kinds of iron and steel. These show more conclusively the prevailing situation than would the movement of pig iron by itself. The imports, ofcourse, fell to small proportions, being for 1908 of all kinds of iron and steel only,207,005 tons, against 662,350 tons. On the other hand, the exports were also heavily reduced, as was natural considering that trade depression in this country entailed depression also in the other principal countries of the world. For 1908 United States exports of iron and steel were only 963,130 tons, as against 1,301,981 tons in 1907 and 1,325,740 tons in 1906, as will be seen by the following: IMPORTS AND EXPORTS OF ALL KINDS OF IRON AND STEEL. 1903. 1904. 1905. 1906. 1907. 1908. 578,209 416,454 266,398 1,178,797 662 ,350 Imports ______ tons 207,005 Ex:ports __________ *963,130 *1,301,981 *l,325,740 1,010,384 1,167,709 326,590 --- ---- ---- --- --- --- 593,930 901,311 747,531 639,631 Ex:cesa or exports 756,125 852,207 ______ ______ ______ ______ Ex:cessoflmports__ ____ __ * Includes tor 1908 114,370 tons; for 1907 176,831 tons, and tor 1906 141,784 Item this for tons, or pipes and fittings, these .belni the first years when the weights were reported. Nothing is known concerning the stocks of pig iron remaining unsold in the hands of the producers, the latter having some years ago discontinued furnishing the statistics. The only measure of home consumption is that furnished by treating the stocks as unchanged and adding the imports and deducting the exports. This we undertake in the following statement. We use here only the imports and exports of the pig metal, since in this instance the purpose is to show merely the consumption of pig iron. PIG IRON PRODUCTION, STOCKS, IMPORTS, &C. Tons of 2,240 lbs. 1908. 1907 . 1906. 1905. 1904. 1903. (?) 598,489 446,442 49,951 Stock or pig Jan.I ii (?) (?) Produc. dur.yea.r 15,936,018 25,781,361 25,307,191 22,992,380 16,497,033 18,009,252 Total supply __ 15,936 ,018 25,781 ,361 25,307 ,19I 23,438,822 17,095,522 18,059,203 (?) (?) 446,442 (?) *446,442 598,489 Stock end or year Cons'n home pig_ 15,936,011~ 25,781 ,361 25,307,191 22,992,380 16,649,080 17,460,714 79,500 Imports or pig __ .., 212,465 599,574 379,828 489 ,47E 92,20 Total ________ 16,028,22( 26,270,83f 2s,681,orn 23,204,845 16,728,580 18,060,288 49,025 49,221 20,379 83 ,317 73 ,703 Exports or pig __ 46,69f Domestic cons'n_ 15,981 ,524 26,197 ,133 25,603,702 23,155,624 16,679,555 18,039,909 * No data as to stocks were furnished at this time; we have taken the amount the same as at the end of previous year. With reference to prices, a belief quite generally prevails outside the trade that values were not allowed to decline to any very great extent. But that is a mistake. Through the action of the United States Steel Corporation and harmonious co-operation on the part of other large producing interests, there was undoubtedly greater stability of values than at previous periods of extraordinary business depression. And yet, between the extreme high prices prevailing in 1907 and the extreme low prices touched in 1908 the gulf is a wide one. In the averages for the two years, too, the declines have been very considerable, except in the case of steel rails, where an unchanged quotation of $28 at the mills in Pennsylvania has been maintained for many years. A comparison of yearly averages for a number of leading articles of iron and steel at Philadelphia and Pittsburgh is furnished in the following: AVERAGE YEARLY PRICES OF IRON AND STEEL, 1900 TO 1907. 1908. 1907. 1906. 1905. 1904. 1903. 1902. 1901 $ $ $ $ :S 5 5 OldlronTrallsatPhlla _____ ton_l8.60 23.88 23.05 22.08 16.22 21.17 23.83 19.32 No. 1 anth. fdy. pig at Ph1la. " 17 .70 23.89 20.98 17 .89 15.57 19.92 22.19 15.87 Gray forge pig Iron, Lake ore, at Plttsbrugh ___________ " 15.23 21.52 19.85 15.62 12.89 17.52 19.49 14.20 BessemerplglronatPlttsb __ " 17.07 22.84 19.54 16.36 13.76 18.98 20.67 15.93 Steel rails at mills In Penn__ " 28.00 28.00 28.00 28.00 28.00 28.00 28.00 27 .33 Steel billets atmllls at Plttsb. " 26.31 29.25 27 .43 24.03 22.18 27 .91 30.57 24.13 Bes.t refined bar Iron from store at Phlla.delphla_lO0 lbs. 1.70 2.11 1.98 1.92 1.72 2.00 2.13 1.84 Arttcles- As a fair sample of the course of prices, steel billets at Pitts burgh may be taken. The average for 1908 was only $26 31, as against $29 25 for 1907. In the 47 CROP AND OTHER PRODUCTIONS. case of iron the fluctuations have been much wider. For instance, the average for Gray forge pig iron at Pittsburgh was only $15 23 for 1908,as against $21 52 for 1907. We may add that from $23 15 in June 1907 this grade of iron declined until it reached its minimum of $14 40 in October 1908, from which there was a partial recovery to $1~ 23 in December. ANTHRACITE COAL PRODUCTION IN 1908. The production of hard coal in the calendar year 1908 was larger than might have been expected , considering the general and extreme paralysis of the country's industries following the financial revulsion in 1907. The explanation is no doubt found in the circumstance that hard coal as a fuel goes largely into domestic and family consumption, being used for cooking and heating rather than for manufacturing purposes. Thus this class of fuel is less susceptible to changes in business conditions than bituminous coal. A severe or a mild winter often plays a more important part in extending or restricting the anthracite output than the condition of general business. In the twelve months of 1908 the shipments of anthracite to market from the Pennsylvania fields reached 64,665,014 tons, as against 67,109 ,393 tons in the calendar year 1907, the falling off, hence, being, roughly, only 2½ million tons, or less than 4%. Bearing in mind that the 1907 total was much the largest ever reported, the decrease is certainly quite small. On the other hand, as we pointed out in reviewing the 1907 figures, though the movement for that year was much in excess of that or any other year, yet, taking the results for a series of years, it appeared that recent growth had, after all, been small. That being so, there was really no good ground for looking for any great contraction in 1908. We present the following table to show the anthracite movement for each year back to 1873. The figures cover only the shipments to market. They do not include coal used at the mines nor coal sold locally, nor yet the consumption by the anthracite carriers themselves. To get at the total output it would be necessary to add from 12 to 15% to the figures given. For 1907, for example, while the coal sent to market was 67,109,393 tons, the actual amount of anthracite mined was 76,079,121 tons. In 1908 the quantity of anthracite mined, it is thought, must have been about 73J500J000 tons. month. Presumably there was a reason for this. The reason is certainly not found in the weather conditions, for temperatures have been above rather than below the normal. The conclusionJ therefore, is that some basis exists for the reports which have been current that coal had been mined and shipped in excess of immediate current needs so as to fortify the companies against the possibility of a strike of the miners the coming spring. The wage agreement entered into with the miners two years ago expires with the 1st of April, and it is known that the minersJ organization contemplates renewing the demands made in 1907, and which it was finally obliged to waive. In the event that trouble should actually ensue, an extra supply of coal will be available against the possibility of a forced curtailment of the output. In the table we now subjoinJ we show the monthly output for each of the last six years. 1904. 4,134,245 4,326,269 4,375,033 5,407,786 5,285,079 5,728,795 4,623,227 4,325,734 3,967,600 5,131,542 5,124,068 5,063,144 1903. 5,964,950 5,070,608 5,211,450 5,044,998 5,156,449 5,436,497 5,377,49 5,169,402 4,654,444 3,925,642 4,091,147 4,259,749. Total tons_64,665,014 67,109,393 55,698,595 61,410,201 57,492,522 59,362,831 Months- January ____ February ___ March ______ April _______ May ________ June _______ July ________ August ______ September ___ October _____ November __ December ___ 1908. 5,618,339 4,502,756 4,766,158 5,987,221 6,089,116 5,704,852 4,541,506 4,599,093 5,211.047 5,977,497 5,839,491 5,827,938 1907. 5,249,946 4,563,720 5,235,814 5,916,583 5,976,906 5,974,272 5,669,024 5,795,347 5,512,717 6,108,065 5,743,522 5,343,477 1906. 5,458,084 4,712,099 5,797,167 488,203 3,254,230 5,676,018 4,981,448 5,400,511 4,527,886 5,384,768 5,182,153 4,836,028 1905. 4,408,578 3,922,601 5,258,567 5,278,041 6,005,158 5,844,052 4,546,743 5,041,838 5,082,232 5,205,694 5,421,584 5,395,113 In view of what has just been said, it would be decidedly enlightening to have statistics bearing on the quantity of coal stored up at interior points, thereby affording an idea of the available supplies. No such statistics, however, are to be had. Estimates are· that these stocks are much above the ordinary. As concerns tidewater stocks, official statements show that these are larger. And yet the increase is not very striking. For Dec. 31 1908 these tidewater stocks are reported at 899,542 tons, against 713,620 tons at the close of 1907, 583,125 tons at the end of 1906. and 766,322 tons at the close of 1905. With reference to the shipments over the different routes, it is noteworthy that, in face of the general decline, both the. Erie and the New York Ontario & Western brought increased quantities to market. What is still more noteworthy is that in the ratios of the shipments over the different routes, there has been an increase in each and every case, save only over the Reading and the Lehigh Valley. This means that these two have had to bear nearly the whole burden of the falling off, the shi pinents over the Reading having decreased from 14,018,795 tons to 12,578,883 tons,. Tons. Tons. I YearYear1908 _______ - _-- __ - _- _- _ -- _64,665,01411890 ____ -- ____________ -- _-35,855, 174 and those over the Lehigh Valley from 11,532,255 1907 ---- ---- -- --------- ___ 67 ,109,393 1889 --- _--- -- ___ __________ 35,407,710 The Reading had pre1906 -- _---- -------------- -55,698,595 1888 _------ ________ -- ---- _38,145,718 tons to 10,772,040 tons. 1905 ----- -- ---- -------- ___ 61,410,201 1887 -- _- -- __________ --- ___ 34,641,017 1904 --- ----- ------ _-- _____ 57 ,492,522 1886 _-- --- _______ - -- _-- -- _32,136,362 viously been gaining, but the Lehigh Valley (whose 1903 _ -------- ------ _______ 59,362,831 1885 ___ -- ____ -- _----- _ --- _31,623,529 1902 _ ------- --- _-------- __ 31,200,890 1884 ---- --- -- -- ____ --- _-- _30,718,293 figures now include the Coxe Bros. line, or Delaware 1901 ----- ------ -- _--------53,568,604 1883 --- _-- _____ -- __ ---- ___ 31,793,027 1900 -- ------- - _-- - --- ____ _45,107 ,486 1882 -------- ___ --- _-- __ -- _29,120,096 Susquehanna & Schuylkill RR.) has been losing for 1899 _ --- - --- ------ _----- _-47 .665,203 1881 ------ __ -- ____________ 28,500,017 1898 _ ------------------- _ _41,899,751 1880 -- ---- ____ -- _-- _______ 23,437 ,242 some years. The Erie has been adding to its per1897 --- ----- ------------ _ _41,637,866 1879 ------ _-- _-- __________ 26,142,689 1896 _---- ----- _-- --- --- __ _43,177 ,483 1878 -- ---- ___ --- -- -- ______ 17,605,262 1895 -- _------- _--------- __46,511,477 1877 -- _--- ________________ 20,828,179 centage, by degrees, for quite a while, and so has the 1894 ---- ------ ___________ _41,391,200 1876 ------ ___ --- __ --- _____ 18,501,011 The Ontario & Western, however,. 1893 ----------------------43,089,536 1875 ---------- ____________ 19,712,472 Pennsylvania RR. 1892 ___ -- __ - _-- - _- __ -- ___ _41,893 ,320 1874 ___ --- ____ ________ ___ _20,145,121 In the following 1891 ___ -- ---- _ - - - - _- _- ___ _40,448,336 1873 - - - - -- _ -- _____ ___ -- __ _21,227 ,952 was falling behind prior to 1908. four years of the last the for comparison a furnish we There is still another influence that may have served routes: different the over shipments to keep up production in 1908. When the shipments - - 1 9 0 8 - - - - 1 9 0 7 - - - - 1 9 0 6 - - --1905--are examined by months, it is found that while in the Tons. ;,. % i % Tons. % Tons. % Tons. Readl ng _____ 12,578,883 19.45 14,018,795 20.89 11,258,295 20.21 12,574,502 20.48· months from February to October, inclusive, the Lehigh VaL_ 110,772,040 16.66 11,532,255 17 .18 J8,536,254 15.32 10,072,120 16.40 11,435,445 2.58 1,605,378 2,61 Del. S. & s __ J amounts generally fell below those for the correspond- Cent. N. J ___ 8,495,425 13.14 8,714,113 12.99 6,983,217 12.54 7,983,274 13.00 D. L. & W ___ 10,088,697 15.60 10,237,419 15.25 9,201,875 16.52 9,554,046 15.56 Del. & Rud __ 6,461,666 9.99 6,562,768 9.78 5,346,695 9.60 5,640,528 9.19' ing months of 1907, in the last two months, on the Penn RR ____ 6,019,457 9.31 6,203,271 9.24 4,856,004 8.72 4,890,635 7.96, lwlf Coal __ l other hand, the shipments ran well ahead of those Penn. Erle ________ ~ 7,450,17511.52 7,151,68310.66 5,636,53710.12 6,225,62210.14 S.&W.J Y. N. of the previous year; for December, indeed, they are N. Y. O. & W. 2,798,671 4.33 2,689,089 4.01 2,444,273 4.39 2,864,096 I""' 4.66 reported to have been the largest ever made in that TotaL _____ 64,665,014 100.0 67,109,393 100.0 55,698,595 100.0 61,410,201 100.0, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PRODUCTION OF GOLD AND SILVER. UNITED STATES AND THE WORLD. GOLD AND SILVER PRODUCTION AND MOVEMENT IN 1908. The world's gold production for 1908 has once more shown a tendency toward increase. It will be remembered that in 1907 the tendency was quite generally in the opposite direction; that is to say, leaving out the increase in the product of South Africa, the aggregate of all the other sources of supply in that year showed an actual loss, though small, compared with 1906. We repeat, it is satisfactory to find that the tide is now the other way, and that all important contributors to the new supply, excepting only Australasia, have shared in the increase. It seems hardly necessary to say that South Africa continues to exhibit the largest growth; not only is that true} but the returns indicate a development that is urprising. Judging by the progress made in past years, sometimes under adverse conditions of labor (a progress checked only by the Boer War and the period of recuperation therefrom), a belief is encouraged that a like development will continue for years to come. Much has been done recently in connection ·with the matter of labor supply. Fears of scarcity as a result of Chinese repatriation have been proven groundless. Instead of loss, we show below that the working force of the Rand at the close of 1908 was the largest on record. A glance at the table of details of gold production for a series of years demonstrates the importance of Africa as a source of supply of the metal. It is only twenty years ago (in 1888) since that country produced only 240,266 fine ounces, or but little over four per cent of the aggregate output of the world's mines; now (in 1908) its yield is 8,179,685 fine ounces, or nearly 40% of the total. Coincidently, the mining of gold has been developed in other countries but in no phenomenal way. Australasia's yield of 1,344,002 fine ounces in 1888 was over 25% of the world's aggregate; its zenith of production seems to have been reached in 1903 when the outturn was 4,317,923 fine ounces. The latest year gave 3,560,943 fine ounces, or not quite 17% of the whole yield. The United States also has largely increased its yield in the same twenty years (1888 to 1908) from 1,604,841 ated around one million fine ounces annually for many years, but while the 1908 product, as we estimate it, was greater than for some years previously it nevertheless fell below the total for 1895. We thus see that gold production has advanced rapidly in recent years, but it is owing largely, as heretofore stated, to the development of African fields, the world's yield increasing from 5,175,623 fine ounces in 1888 to 14,016,374 fine ounces in 1898 and reaching 21,037,818 fine ounces in 1908, the annual increments having been thoroughly absorbed in one way or another. We cannot trace all of the new supply the world's mines annually contributes to its final place of lodgment, but the major portion of it can be accounted for in the augmentation of the stocks of the principal banks and treasuries of the world and the amounts used in the industrial arts, leaving the remainder to represent increase in circulation, addition to stock in countries from which reports are not received, &c. Note that in the seven years 1894 to 1900 inclusive, the total product, expressed in fine ounces, was 81,532,607 ounces, valued at $1,685,425,746. Of this new supply 583,344,000 went to increase stocks of the principal banks and treasuries of the world and $447,141,470 was (according to our Mint Bureau estimates) used in the industrial arts, leaving 654,940,276 to be accounted for in gains in stock elsewhere, additions to circulation, &c. Covering later periods in the same way we reach the following results: for the interval 1901 to 1904 inclusive, a balance of $276,001,602, and for 1905 to 1907 inclusive, only $10,240,900. A recapitulation of the results for the 14 years shows that, besides increasing the world's stock by $2,070,447,000, and allowing $1,101,943,570 as used in the industrial arts, there remained a balance of $941,182, 778 unaccounted for-gone out of sight Gold stock principal banks and treasuries of the world December 31 1893. Mint Bureau figures _______________ -$1.915,053 ,000 World's production 1894 to 1900 inclusive ______________ 1,685,425,746 TotaL __ _______ __ ______________________ ____________ $3 ,600,478,746 Deduct stock December 31 1900 ______________________ 2,498,397,000 or which used in the arts, Mint estimates______ _________ _u,102,081,145 447,141,470 Leaving to be otherwise accounted for__________ ______ $654,940,276 stock December 31 1900 _________________ ___ __________ $2.498,397,ooo World's production 1901 to 1904 inclusive ______________ 1,237,207,002 to 4,659,161 fine ounces, but its proportion of the i~~ct-s-tock-Decemtiei--si-il o4=====================$tm:i~6:883 world's aggregate has in the meantime fallen from I . $589,o3i,~02 31 % to 22% . Other countries have also increased · or which used in the arts ____________________________ 313 •03 • 00 their production in the same twenty years, and have therefore, in a limited way, helped to supply the world's needs for the metal. Canada, from .a very unimportant position, came into considerable prominence as the result of discoveries in the Yukon district, Leaving to be otherwise accounted for____________ ____ __ $276,001,602 Stock December 311904 ________ ___ _______ _____________ $ 3 •146 , 570 , 000 World's production 1905 to 1907 inclusive ______________ 1,190,940,600 De1~~~\tock-Decembel~31-i907============= ===========$tm:g~g:ggg Of which used in th e arts---------------------------Leaving to be otherwise accounted for____________ ______ $352,010,600 34 759 700 1. , $10,240,900 and the annual output of the Dominion exceeded onE; Recapitulation. million fine ounces each year from 1899 to 1902 World's stock December a1 1893 _________________ __ __ _________ $1,915,053,ooo product, 1894 to 1907 inclusive ___ _____________ 4,113,573,348 inclusive. Subsequently, yield fell off, and ·while it Tota1__ _____________________________ _______ _____ ___ $6,028,620,348 was a little greater in 1908 than 1907 it nevertheless Deduct stock December 31 1907 _________ _________ ______ 3,985,500.000 was barely one-third of the 1900 output. ~Iexican or which used ln the arts _______ ______ ___________ ___ _$2,043,126,348 1,101.943,570 mine have been doing better year by year for some Leaving to be otherwise accounted for_ _____________ ____ $941,182,778 A feature of 1908 which is of course not indicated time past and the outturn is now close to the one million-ounce mark. Rus ia's production has fluctu- above was the large increase in the gold holdings of https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PRODUCTION OF GOLD A D SILVER. the Bank of France-about 170,000 ,000-and there was also an important addition (approximately $50,000,000) in the amount held by the Bank of Germany. The following detailed compilation of the gold product will enable the reader to trace the growth in the contribution from the various sources of supply since 1880. Corresponding information from 1871 to 1881 -will be found in Vol. 70 of the "Chronicle", page 256, and from 1851 to 1871 in Vol. 54, page 14. yield moved up from 894,424 fine ounces in 1907 to 1,012,528 fine ounces in 1908, thus nearly equaling the product of 1906; in California the advance was from 1,010,921 fine ounces to 1,103,522 fine ounces and Colorado's output increased approximately 132,000 fine ounces, largely the result of better returns from Cripple Creek. From the mines of South Dakota the yield was also appreciably heavier than in 1907, the net result for the whole United States being a gain in yield, as stated above, of 284,334 fine ounces, of which the value is $5,877,556. The ounces and values, as estimated for each State in 1908, compare as follows with the final reported results for 1907 and 1906: <iOLD.-PROD U CTION IN THE WORLD-OUNCES AND VALUES. ...... .-3 coo g8888 ~ 8~~~~-~ ~~~~~ ~ cii : :::: ~ :::: : ~ : : : : : ~ Oc+ a,. c:,n.;:..e,.:,Ni-,i.. 'o ' ...... ' ' 10 I I I I :~ ' 'N I I I I I I I I I I I I I I I I 0 0 I I .... ,i:.,i:.,i:.c:,,c:,, QI co c:,,co,.....,i:.co ,i:. NCO Ql:)O NO>-.JCON -.J i:,,i:,, _ ooococ,,"c,, °N CONNCOC) -J "'<a ... ,I:. __.Nc:,,,1:.,i:. QI C:,,0 'i,,;.. c.,;.;:..i ;;.-:i,.. Qt,l:.C,,.... ...... c,, ~";....c,.)CO.i::i,.-;.... C:00)....,.CO-.J 0 ,i:.c:,,...ioo.i:. ,_. -:i,._i:,,"'°""' i:,, -.J,l:.Q>,..<0 C c.,.,.....,Nt-,,1-C) N 0COOO-.JQ> • I I I I I ::::: I I I I I C:0 ~ I c.,,~c.,N.,_... I I I I I I I I I I ::::: I I I I I (0 ~ I C,,,l:.C:,,NN CO N1',....., ':.J";..kQ)';.... 0 :..o:..i"'i:,, oo N0C,,COOO COQIQI0QI coi:,,a,i-,oo Q>NC,,-.J-.J ...,.i. 0')0000 l\:I QI CO i:,, 0 <:.n C,,C,,NN-.J Qta,cooo",... °N c,,a,0 ... Qt ,i:. NQl,l:.000 0 c.ooo:..i-.,.:.. °N 0-.JN<Q0 c,, ,....i.i-,i. 0) aJ N.,....C.:,._. 00 0 0 ... 0000 QI i:,,:..oo°Na> 0Qo<QC:,,CO QI QI0NOO0 c,, ~-q-q•...1. I I I I I I I I I : I I I I I ...........q ................... Ni-,i.i-,i.i-,i. i-,i. ';....O'J'e:-;....-.J ~ r-""0')00<:,;,N .,_.. QIQ, ... 0-.J ,i:. ~ ~e11-;...c.nco C:.,,,C.,.,l\:I ............ ,1:.C,,N oo~;...~C11;... °Nco""...ii:,,"' c.o""...i C,,N C:,,N ""...i-:i:..ooi:,,i:,, ,i:.00000 -.J N0000 N oo°Nc.oco:.. oo co ... <De,, c:,, c,, -.J0OOQIN ,I:. c,, ooc,, N,... °Nco OON NC-~ N -..1-.JQ>Q>QI"' -.J ... --.I ... ,I>. 00 o,:..oc,,:..i ;:i, CO 0NN-..1 O> ,l>.Ql ... 00,1>. 00 C,,a, ...,N a>oooo"c,,:..i :..i -..!NQIC,,Q> 0 0-.Jc,,0CO QI +i>A. ,l>.O, o .... 0QI ",i:,.c,, NO O><:lt c.oco Q>,I>. """' a,:i,.. :i:..i-.. ,!>.Qt OOQI c,,,.. .l>-N ... OOA~ NQI "'"' QIOO ~co Q>,I>. CO,!>. c,,c,,c,,NNC,, -..1.1>-NCOQ> 0 OOQ>Q>OOQ> a> oo:..:i,..i:,, co COC,,QIQIQI 00 00,1>.CONCO N coc.,,coc,,oo-.,. ,l:.NCO0OO <:It ~i-,....(7).;:.. N ... Qlc,,Ql,l>.,I>."' c,, .i>-<DOO,.. a, 000,<:11:..i:..i co OOQIC,,00,.. 00 C,,NOO0c,, c,, :_.a,a,c,,';,.i c,, o CJli-,.c.,coO -.J ,1:.0CD-.J,I:. 0 ""...iooc.oooo i-o O>,..NCD,1:. N oc,,c,,ooo ... ,1:.C,,N,_.QI -.J o o 00 oo N 0 NC,,NNN O>t-OOC.)0 N,1>.CO-.JN 'i-..a,:..i'c.,co NC,,,1:.00,:o 00C:,,0000 i-,,i,1-q-i. ...,.t-,,1, co-.JQl,l>.N CO 00 00 QI CD i:,,coo,i:,,co N,..O>Q>,I>. ,1>.CO0-.J-.J 01 ,I:. CO co QI 00 i-,,i, N "c,, ,_. CO co'i-.oa,co"c,:.. ,_.C,,00CON Q> QIC,,0000> a, I I I I I I I I I .t,J I 0) NOq:>:..~ -.J ""...i c,, o OOQ,l>.-.JN N oo,..QIQI .i>- ... NNNNN 0 ~<:,.) ..................... i,;:.. °Nooco:i..-.,. c,, O>c,,OOCON QI ,..QtQICO-.J 00 :..-.,.O00:i..oo O~.-""""',i:i,. 00 N-.J..-QIQI QI i-,,i,,...q ...q . ..1.t-,,1, C)1: ....... c o o 0 00Q,C,,,1>.,I>. -.J a, ococoa,'i-.. oo O>COOOC,,-..1 QI Ql,1:.CO0Q> CO ~ Q:> -.Ji-,1.~c.,co N Q>00C,,Q>c,, c,, °' ~ ·~.:o ~ -.Jc,,ol>-0c,, CO c,, ,1>.,l>.COC,, c,, ~ I NNNNNCi) ....... 0 0 0 ....... _ °Nooa,';i,..:_.~ ~N~CO~~ ::t~k~g ...ic:ocoo ... A O)[\)Ci,.>000) - t-,,1,t-,,i,t,- !! s:: ~ ~eg~~o~ ;.;,;,.,;,,21 ;:;~~~g;~ :i..~a.oo:..~ ... ,l>.Ql,l>.C,, O)t-,,1,~00C)t *For figures from 1881 to 1871 see Vol. 70, pa.ges 256 to 260. 1871 to 1851, see Vol. 54, pages 141 to 144. The ounces In the foregoing table for any of the countries given may be turned Into dollars by multiplying by 20 .6718. The value In pounds sterllng may also be ascertained by multiplying the ounces by 4.2478. Thus, according to the above, the product In Africa In 1908, stated In dollars, Is $169,088, 812 , and In sterling £34,745,238. Official Details from Gold-Producing Countries. From the reports we have secured from the mines, mint bureaus, and other official and semi-official sources respecting gold mining in 1908, we are able to deduce the following United States.-The preliminary estimate of the production of the gold mines of the United States for 1908 furnished by Mr. F. A. Leach , the Director of the Mint, denotes that the country as a whole has increased its output 284,334 fine ounces of an approximate value of 6 millions of dollars. This is rather better than expected in view of the smaller outturn from Jevada mine which reports from time to time have indicated, but some augmentation was anticipated. The rcsul t for the year in -evada as now estimated is a loss of 160,640 fine ounce , as compared with 1907, but every other State of much prominence as a producer reports an increased product. In Alaska the https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Gold Produclton. GOLD PRODUCTION IN UNITED STATES. ---1906-- ---1907--- ---1908Ftne ozs. Value Ftne ozs. Colorado .• _. 1,109,452 $22,934,400 1,010,921 Calllornla. ___ 9ll .04 1 18,832,900 815,288 Alaska------ 1,033,537 21.365,100 894,424 South Dakota 319,512 6,604,900 200,185 Montana ____ 218,752 4,522,000 167,987 Arizona _____ 132,891 2,747,100 128, 71 Utah ..•• ____ 248,208 5,130,900 247,758 Nevada _____ 448,852 9,278,600 745,507 Ida.ho -- -- -50,102 1,035,700 60,754 Oregon __ • ___ 63,860 1,320, 100 59 ,124 New Mexico .• 12,877 266,200 15,964 Washington._ 4,983 103,000 12,689 South. States 10,990 227,200 11,712 Othrr States_ 3,643 276 5,700 Value. Fine ozs. $20,897,600 1,103,522 16 ,853,500 947,260 18,489,400 1,012,528 4,138,200 372,019 3,472,600 160,729 2,664,000 113,454 5,121,600 190,128 15,411,000 584,865 1,255,900 70,185 1,222,200 54,157 330,000 11 ,647 262,300 10,748 242,100 11,818 16,101 75,300 Value . 22, 11 ,784 19,581,570 20,930,7 4 7,690,294 3,322,551 2,345,308 3,930,290 12,090,218 1,450,, 30 1,119,52 240,756 222,189 244,306 332,848 Totals _____ 4,565,333 $94,373,8004,374, 27 $90,435,700 4,659,161 $96,313,256 ooocx,c.,-;._e,., ...... .,i:...e,,e,.:,NN .,... 0Q>N<QQ> c:,, co:..ia>co':..i coa>o ... o COQINNN ':..Ja,co°No, -.JQIO>QIQ> OON-..1,__.CO Q)Q)C)t...,..i-,,i,""""' I I I C,.:,ON-.JI f"_c:,,_c:,,_c:,,_c:,, :" NOOQIOOOO -.J a,coc,,...io 00 N QtN00Qt 00 00 co.i:. c,,:..i I I I 01).)Q>QII NC,,,..-.JQ> 0 co...ioo,i:.oo a, : I I I ~~~~: ,. '"',. I .................................. c,,i:,,o,c,,O> ooooococo oo...i,i:.a,c,, l : I I ,. Ni-,1-......,i,..,1,i-,i. 00 :":' Qlc,, a>co Qlc,, : ~ I N-.JNN0 N c,,c,,c,,NN CO .. I : I a. a. :_.a,o"i-:a. -.J000-.J ,I:. NC,JO')~I ... I C)O I ",i:,.t1t"c,,°Ni'> co Qt,1:.,1:.CDQI 0 c,,0,1:.0-.J CD .i::.. c:.n ............. Qt,l>-C,,N,..c, I OOOOOO<DN QI -.J<:Jl ...... C.,O') 0 ~~~~~ ~ g;g;g;g;g;§~ ()o *<'!)~ :::: : ~ ::::: ~ 0COOO-.JQ> • I 49 A/rica.-Barring the period of the Boer War and the time of recuperation therefrom, Africa has shown steady and rapid development in the mining of gold. Up to 1888 little or no gold was obtained from that Continent and in 1888 its product was but 240,266 fine ounces, or less than 5% of the world's total product. In 1908, twenty years later, the yield reached 8,179,685 fine ounces, an aggregate greater than produced in the whole world in 1893, and nearly 40% of the total, of which as heretofore said, it is the most important item. Eleven years ago the products of Africa Australasia and the United States were all of them approximately the same in amount; in 1908 the first-nam ed exceeded the other two by 129% and 77% , respectively, and almost equaled their combined total. The Witwatersrand district, the leading field of Africa, furnished alone in 1908 6,782,538 fine ounces, or 9% more than in the previous year, the product of December 1908, the closing month, at 637, 853 fine ounces, exceeding all records for a similar period. After the developments of recent years we are prepared to see even a higher mark attained froi-n year to year, as the labor supply is reported to be entirely satisfactory. The repatriation of Chinese who had been injected into the country's industry is no longer a disturbing element, the loss in labor being more than made good by an increase in native labor; at the close of 1908 the total working force in the mines was 161,005, including but 12 ,283 Chinese, against only 141,966 at the end of the previous year, of which 35,676 were Chinese. The Asiatics have therefore ceased to be a cause for concern in the operation of the mines. The results of gold mining in the Rand proper by months for six years were as follows: WITWATERSRAND DISTRICT-FINE OUNCES. 1903. 192.935 187,978 208,456 218,900 224,409 228,168 242,070 262,569 267,513 275,664 272,107 278,710 1904. 278,867 282,436 299,625 297,470 306,586 299,913 298,825 301,113 301,131 313,928 324,011 349,889 1905. 357,214 351,052 385,575 385,394 400,149 396,188 401,121 410,859 399,536 397,868 407,056 414,421 1906. 411,256 389.283 424,773 420.467 441,936 456,014 473,385 489,787 486,522 521.397 515,193 529,521 1907. 520,089 475,785 520,163 518,243 506,100 487,956 513,655 534,598 517,746 532,993 530,215 562,684 1908. 540,202 520,969 553,440 543,361 558,243 550,240 561,988 565,545 565,439 594,054 591,204 637,853 Totals. _____ 2,859,479 3,653,7M 4,706,433 5,559,534 6,220,227 6,782,538 Ounces. January -- --February - - -March _______ April ________ May _________ June ________ July- ----- --August_. __ • __ September •.•• October ______ November ____ December ____ We are not permitted to doubt that districts outside the Rand a lso made progress in 1908. The fields at Lydenburg, Barberton, &c., in the Transvaal reported an aggregate output of 270,079 fine ounces, against 231,157 fine ounces in 1907. Rhodesian production advanced from 525,315 fine ounces in 1907 to 607,012 fine ounces in 1908, and in Egypt, West Africa, the oudan, &c., gains are also recorded. The subjoined compilation covering the progress of gold mining in all section of Africa since 1886 is submitted without further comment: 50 PRODUCTION OF GOLD AND SILVER. AFRICA'S GOLD PRODUCTION-FINE OUNCES. ---Total----Other---Witwatersrand-£ Ounces. £ Ounces . £ Ounces . Year. 122,140 2 ,754 122,140 28,754 1887(partyr) 1.020,600 240,266 212,390 50,000 80 ,210 190,266 1888 ------1,554,794 366,023 212,390 50,000 1.342,404 316 ,023 1889 ------2,035,980 479,302 303,939 71.552 1.732,041 1890 ------- 407,750 3,092,024 727,912 539,691 127,052 2,552,333 600,860 1891 _______ 4,887,176 631.652 1.150.519 4,255,524 148,701 1892 ------- 1.001.818 5,866,756 679,550 1.381.128 5, 187,206 159,977 1893------- 1.221.151 7,924,434 967.500 1.865,538 6,956,934 227,765 1894 _______ 1.637,773 8,984,685 271),000 1.146,906 2,115,138 7,837.779 1895------- 1.845,138 9,133,220 7,888,465 293,035 1.244.755 2,150,106 1896 _______ 1.857,071 1897 ------- 2,491.552 10,583,616 326,941 1.388.780 2,818,493 11.972,396 1898------- 3,562,813 15,134,115 341.908 1.452,357 3,904,721 16,586,472 1899 ------- 3,360 ,091 14,273,018 305,784 1.298,909 3,665,875 15,571.927 2,388,569 562,307 709,051 166,922 1.679,518 1900 ------- 395,385 2,016,414 474,696 1.015,203 235,701 1.001.211 1901------- 238,995 8,490,559 7,185,260 307,286 1.305,299 1.998,811 1902 _______ 1.691.525 1903 ------- 2,859,479 12,146,494 458.183 1.946,290 3,317,662 14,092,784 509,747 2,165,303 4,163,541 17,685,632 1904------- 3,653,794 15,520 ,329 788.040 3 ,347,436 5,494,473 23,339,094 1905------- 4,706,433 19,991.658 1906 ------- 5,559.534 23,585,400 1.042,151 4,486.849 6,601.fi85 28 .072,249 1907 ------- 6,220,227 27,403,738 1,200,847 5,100,958 7 ,421,074 32,504,696 1908 ___ ~ ___ 6. 782,538 28,810,393 _1._39_7_,1_4_7 _5_.9_3_4._84_5 _8_._11_9_,6_8_5 _3_4_,7_4_5_.2_3_8 Values. Russia s production In 1893 ___ ___ ___ _______ $27,808,201 "1894 ________ ____ _____ 24,103,396 " " "1895 _________ _____ __ 28,894,360 "1896 _______ _________ 21,535,757 "1 897 ________________ 23,245,666 "1 898 ________________ 25,463,33 7 "1 899 __ ______________ 22,167,100 " 1900 ___________ _____ 20,145,500 "1901_ _______ ________ 23 464.562 "1902 ____________ ____ 22.739,01 3 "1903 __________ __ ____ 24,632,200 "1904 ________ ____ ____ 24,803,200 "1005 ___________ ----- 22,291,600 "l!JOIL __________ __ ___ 1A.4<l4,700 "1907 __ ______________ 26,684,000 " 1908 ________________ 28.000.000 Ounces. 1,345,224 1,167,455 1,397,767 1,041,794 1,124,511 1,231,791 1,072,333 974,537 1,135, 100 1,100,000 1, 191,582 1,199,857 1,078,356 943,056 1,290,840 1.354,502 India.-ln this country there was apparently a small increase in the production of gold -in 1908, the returns from the Cola.r field s'e eming to warrant our drawing that conclusion. Compared with 1906, 1905 or 1904, however, the yield is less . As will be observed in the subjoined table, Total ____ 50,628,970 216,011 ,778 8,478 ,739 36,076,061 59,107,709 252,087,839 the output from the Colar field was 534,377 gross ounces in Australasia.-Since the retrograde movement in pro- 1908, which compares with 531,829 gross ounces in 1907 duction set in in 1906, progress in that direction has been and 563,478 gross ounces in 1906. steady in Australasia's yearly aggregates. Extended comEAST INDIA-GOLD PRODUCTION PRINCIPAL MINES. ment on the fact does not seem called for, especially as we 1902. 1903. 1904. 1905. 1906. 1907. 1908. Ounces. Ounces. Ounces. Ounces . Ounces. Ounces. Ounces. can offer no clearer explanation for it than that given on Champion Reef. ______ 120,533 128,671 158,642 217,135 213,838 211,466 159,574 ____________ 86,252 73,562 68,881 66,236 73,571 84,698 88,075 former occasions-the poorer quality of the ore from the Ooregum Mysore ________ ____ __216,488 209,441 205,918 205,389 201.909 192,897 168,504 Nundydroog _________ 80,889 74,964 72, 439 70,561 68,569 70,129 58,031 lower levels. In 1908 Westralian production dropped to Balaghat Mysore __ , ___ 28,039 33,574 46,432 42,470 31.706 .27,155 26,607 7,800 8,525 13,177 12,328 11,441 Mysore West & Wynaad 2,176 9,319 1,648,505 fine ounces, against 1,698,553 fine ounces in Coromandel 5,000 4,272 593 2,641 2,298 _________ 737 1907, and in every other province , with the possible exception Others ______________ of Tasmania, and South Australia, the yield of gold reported Totals ____________ 534,377 531,829 563,478 615,561 606,193 697,786 514,328 was less than in the previous year. We subjoin a comOther Countries.-Aside from the countries already pilation indicating the product of each colony and the referred to, Mexico is the most important producer calling combined aggregate for a series of years: for attention. From a very limited yield in 1888 developPRODUCT OF GOLD IN AUSTRALASIAN COLONIES-FINE OUNCES. South Tasma- Total A usNew New So. Queens- Western ment has been quite steady,and on the whole rapid, until now that country ranks sixth in amount of product. Such 116,774 531.096 30,603 180,968 21.541 17,965 1.453,172 141,069 516,710 27,886 231.837 26,404 44,497 1.518,690 information as we have secured as to the working of the 142.227 545 .051 54,785 218.401 35,857 39,817 1.638,238 mines in 1908 seems to justify an estimate of 919,126 fine 163,571 562,649 101.132 206,852 30,844 34,377 1.711.892 298,804 621.000 190.561 203.810 32,976 53,243 2,020.180 ounces as the output, that comparing with 903,699 fine 331.352 581.147 212 ,992 270 ,012 43,556 50,567 2,170,505 ounces in 1907 , Lacking conclusive data from South 272,386 587,155 258.764 242,624 26 ,684 57,579 2,185,872 268,840 743,294 633 ,515 231.512 9,497 55,876 2,690,278 American districts, and bearing in mind the fluctutating u rse appears966.167 257,762 18,400 63,995 3,235.638 nature of the product there, the only safe co_ 314.385 844,652 468,665 871.816 1,512 ,366 358.418 30,351 70,492 4,105,526 to be to estimate 1908 the same as in the previous year, 281 ,209 855,959 1.438,659 335,300 26,458 65,710 3,729.961 216 ,884 733,975 1.616,933 412,868 29,668 70,990 3,792.364 and we can do no better t han fo1low a like course for European 254,432 653,362 1,769,176 459,408 23,662 60,974 3,949 ,394 countries other than Russia, the aggregate outturn being 258,488 686,469 2,064,798 479,738 24,401 36 ,678 4,317,923 269,817 624 ,917 1.985,230 467,647 17,913 60,000 4,196,822 very moderate in any event. Central America probably 274,263 577 .559 1.955 .316 520,040 20,547 74 ,316 4,232 ,091 did better in 1908 than in 1907, and a further increase in 253,987 493.120 1 ,794,542 532,922 14,078 50,888 3,925,591 247,363 457 ,596 1,698,553 477,303 11 ,870 65.354 3,668,308 product is liable to have taken place in China and Siam. 224, 788 452,451 1 ,648, 505 474,415 al4,330 a70,453 3,560 .943 Bringing together a11 obtainable data from "other countries" (not including Mexico), we are of the opinion that a Estimated In part. there is justification for putting the combined product Canada.-An important increase in production in British slightly ahead of 1907. Columbia is responsible entirely for the gain Canada's SILVER PROD U CTIO N O.F THE WORL D . yield for 1908 exhibits over the 1907 r esult. At least that is So little early data with regard to the production of the explanation furnished to us by Mr. Jno. McLeish, ilver is procurable that the reaching of any definite conStatistician of the Department of Mines of Canada, in clusions at this time as to the 1908 yield of the world's is out of the question. We have, of course, Mr. connection with the estimate he has so kindly favored us mines Leach's estimate for the United States, which foreshadows with. His estimate points to an augmentation in output in a decline of about 5 million ounces, due largely to the 1908 of 58,848 fine ounces, the aggregate yield being placed shutting down or reduced running of some of the large at 464,401 fine ounces, against 405,553 fine ounces in 1907. smelters during part of the year. Canada,on the other hand, consequent upon the heavy augmentation in yield in the But even the increase reported for 1908 does not prevent Cobalt district, app arently shows a large increase, and the Dominion exhibit from making a sorry comparison with from Australasia and Mexico it is probable that the 1908 the of Development new supply approximated the 1907 result closely. The any year prior to 1907 back to 1898. Yukon territory brought Canada into prominence in the drop in the price of the metal doubtless acted as a check upon mining operations, especia11y where the product was last-named year and its production increased heavily for largely low-grade ore . The net decline in value of silver a few years but latterly returns have been comparatively during 1908 at London was 5 7-32d ., the average price poor. The results for Canada for the last sixteen years, having been 24 13-32d., with the highest 27d. and the lowest 22d. In 1907 the average was 3(} ;3-16d., in 1906 was stated in fine ounces and values, have been as follows: Ounces. 30½d., in 1905 was 27 13-16d. and in 1904 was 261/sd. Values. 44,853 We give below a tatement of silver production covering Canada's production In 1893_ ________________ $927,200 50,411 " 1894 _________________ 1,042,100 " " See "Chronicle" of Feb. 11 1899, 92,440 each year since 1890. " 1895 _________________ 1,910,900 136,274 page 258, for figures back to 1871. " 1896 _________________ 2,817,000 Yr.t. Victoria. 1890- •• 554,225 1891- •• 530,287 1892. - -602,100 1893 ___ 612,467 1894 .- -619,786 1895---680,879 1896_ - _7 40 .680 1897 ___ 747 ,744 1898 __ • 770,277 1899 ___ 793,418 1900---126,666 1901--- 711.046 1902 ___ 728,380 1903---767,351 1904- __ 771 .298 1905---810,050 1906 ___ 786 .054 1907 ___ 710 ,269 1908_ --676,001 Wall's. " land. 1897 Australia. Zealand. Australia. nia. ----------------- 5 9 5 ,os , oo ::.. mt===============Jr·m:~88 27 916 752 1900 • ----------------- • }g8t===============Jt:~:t~!~ ::" 1903 _________________ 18,834,500 " 1904 _______________ __ 16 400,000 " 1905 _________________ 14,486,800 " 1906 . ----------------12.023.932 1907 _________________ 8,383,500 " 1908 _________________ 9,600,000 tralasia. ~~t:!~~ 1 ,031 ,563 }j~g;~~~ 1,003 359 911 118 793,350 700,800 51\1 ,6fi0 405,553 464,401 Russia.-lt is never possible to ob tain early information as to gold production in Russia that is at all conclusive,and for that reason any estimate made is frequently subject to SILVER.-WORLD'S PRODUCTION IN OUNCES AND STERLIXG. F ine Ounces. ~:i!;~~ Ounces. 189 1-. __ 58,330.000 1892 ____ 63,500.000 1893---- 60,000.000 1 94 ____ 49,500 ,000 1895---- 55,726,945 Total '91-95.287,056,945 1896---- 58 834.800 1397 ____ 53,860.000 Mexuo. Australia. Ounces. Ounces. 35 ,719,237 39,504.800 44,370.717 47,038 ,381 46,962,738 10,000,000 13 ,439,011 20,501.497 18,073 ,440 12,507,335 t,~l!:1;. Ounces. Total Ounces. 33,916.175 137,965,412 36 ,496,175 152,939.9 6 41.228,063 166,100.277 53.140 ,696167,752,517 53.983,231169,180,249 ::i~~a £ 25,900,276 25 ,370,513 24,655,510 20,226,410 21.059,416 213 ,595,873 74,521.283 218,764 ,340 793.938,441117 ,212,123 45,718.982 12,238,700 40,268,888 157,061.370 19,959,882 53,903,180 11.878 ooo 44,431,992 164,073.172 18,885.500 mt=== itm:ggg itm:888 fg::~J:J~g tl:fgtJ3t m:m:m ttm:m i~~1--- 57.647,ooo 57,437,808 13 ,340,263 44-413,802 172,838,873 20,344.575 ·gt~~= ~;:m:~88 i~:i1i:g~g f8:~ftm f~tm:g~~ ii:m:m 2 2 2 ~t:8f3:t:~ important revision. Such was the case for 1907, which 19 year, instead of showing a moderate decrease in yield, 1902 ____ 55,500.000 60,176,604 8 ,026,037 39,060.842 162,763 ,483 16,318,731 1903---- 54,300,000 70 ,499,942 9,682.856 33,206 ,394 167,689.192 17,292,944 actually made a marked gain. The indications are that H!04 ____ 57,682,800 fi0,808,978 14,558,892 31,144,596 164 ,195,266 18,044,172 there was a further augmentation in yield in 1908 , giving }~~~1--- 56,101.600 65,040,865 12,561,600 35,884,774 169,588,839 19,652,873 a record production for the country' and for the purposes I 1dit~~= ____ 56,514,700 61,147,203 19,083,031 48,269,689 185,014 ,623 23,271,622 of this compilation we have estimated it at ' 28 I 000 I 000 I 11907 1908 (est.)51,798,053 61 ,000,000 19,000,000 52,000,000 183,798,053 18,666,990 a Values or silver In this table are commercial values and are computed on the or 1,354,502 fine ounces . Details for the last sixteen years ~!irf:~tfi~i~;;1!:h l.~~6~~ silver as given by Messrs. Pixley & Abell, London. Value are appended: https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2~~:m:i88 31tm:~~g f~:g~f :m l~g:~~i:m m:~:g:i~~ ~t~8g:~~i https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A TABLE SHOWING THE FLUCTUA.TIONS IN LONDON IN THE PRICE OF BA.R SILVER PER O UNCE S'FAND.AI?.b, .FROM jANUARY, YEARS. J ANUARY. FEBRUARY. MARCH. Pence. Pence. Pence. 1837 . ... 6014 - 603s 60 60 1838.... 5912 5912 5912 6058 6014 - 601is 1839 .... 603s -6058 1840 . . 6014 -60¼ 6014 3014 -603s 1841. •• . 603s 603s 60 1842. .•. 595s 593s -5912 59!Js 1843 .... 591s -5958 59 -5914 59 -591s 1844 .... 5914 -593s 593s 5914 1845.. .. 5914 591s -5914 5878 -591s 1846 .... 59 14 5914 5914 1847 .... 601s -603s 603s 603s 1848 .... 591s -5914 5914 -593s 591s -5914 1849 .... 595s -5934 5934 60 -6018 1850 .... 5958 -5934 5912 -5958 593s -5934 1851. .. . 61 5s 6112 -615s 6112 6012 603s 1852 .... 6012 -6034 1853. .. . 613s 613s 613s 1854 . ... 6112 -6134 6158 6170 1855 .... 6112 -615s 6112 -61 58 60 78 1856 .... 60 7s -6114 6118 -613s 6012 -61 1857. .. . 6214 6112 -6178 613s - 6134 1858. ... 6112 613s -6178 613s 1859 .... 6134 -62 6134 6134 -6234 1860 . ... 62 -623s 62 -6218 613.4 -621s 1861. .. : 6114 -613s 611s -6114 605s -61 1862 . .. . 61 -6158 6112 -6134 6114 -613s U63 .... 6158 -6134 6112 -6158 613s -6112 1864 .... 6170 -6212 6114 -6178 6112 -6134 1865 .... 6112 -615s 613s -6112 61 -613s 1866 . ... 613s -6134 6078 -61 12 6078 -61 6034 605s -6034 1867. ... 60 7s 1868 .... 603s -60 7s 603s -6012 6012 -611s 1869 .... 6058 -60 7s 6034 -61 6012 -6034 1870 .... 6012 -6034 603s -60½, 603s -601is L871. ... 6 0 12 -60 5s 6012 -6058 603s -6012 t872 .... 605s -6118 6034 -611s 6034 -60 7s 1873 .... 5934 -591516 5934 -5916 16 5934 -59 7s 1874 .... 58 -5912 5812 -59 -38 12 -593s 1875 . . .. 5712 -5758 573s -5712 57 -5714 1976 ... . 54 7s -5618 53 -54 78 5212 -5414 1877 .... 56 78 -58 14 56 -5734 5314 -561s 1878 . ... 5312 -54 5316 16-5514 3418 -55 1879 .... 491is -51 4912 -5014 18 78 -5014 1880 . ... 5214 -5234 52 -5211 16 5134 -5212 1881. ... 51 -5134 5114 -52 7s 52 -52 70 1882 . ... 511316-5218 52 -521 16 5178 -521 16 1883 . ... 5 0 -50916 503s -51 50 34 -513 16 1884 .... 50l\1 -51 51 -513s 5011 16-51316 1885 . ... 493s -50 4813 16-499 16 t9 -49al 6 1886 .... 47 -46 7s 4616 16-4612 16 78 -461 rn 1887 .... 471s -4614 47 -465 16 !6716 -445 16 1888 .... 449t 6 -4414 443 16 4313 16 4334 -43 1889 .... 421 16- 4238 4234 -42½, -125s -4214 1890 .• . . 44 7s -4418 4458 -4311 16 443s -4334 1891. ... 48:i! -46 7s 4634 -4412 455 16 -4458 1892 .... 4334 -41 34 411516-41¾3 4158 -39 1893 .... 38916 -3818 3812 -3814 383s -37916 1894 .... al!\i -3012 301 , 16-2712 2-7 70 -27 18!-15 . ••. 27710 -27316 2711 i!i-27 14 2934 -27Ge 1896 .••. 30 79 -3012 Jl111 11 -3034 31 11 rn -311e 1897 ... 2913u1-29111 ~ 2934 -29Ll1t 291is -285 16 1898 . ... 2t>70 -1618 2 614 - 251is 2 1>1 6 -2n 1 899 . ... 2715s -2714 27~ -273s 279 1~ -273s 27~ - 270111 2711 1e-277 16 1 oo .... 27 11 16- 27 l POl. •.. 29915 -27~ 2812 -27 71'! 28315 -27015 1902 .... 261s -257 16 25¼ -25616 257 16 -2413 16 Hl03 .... 223s --211116 22 '• 10 -21 7fl 22 71l -221s 1904 ... 2 i 516 -25¼1 27¼ -:&P'I~ 2n11 16-2,i. 1905 .... 28% -27916 286 6 -:l7~ 2711 ,e-2513 fl 1906 .... 3014 -2 ,1 16 301 16-1019 30 ; 16 -29 1907 .... 327 16 -315 16 3212- 3112 321 16 -30 ' 16 1908 .••• 27 -24 7s 26~ -253s 251316-2 57 16 APRIL . Pence. MA Y. - PenCC:- - JUNE. Pence-. - J ULY. - Pence. - 1837, Tu DECEMBER, AllGUST. SEPTEJ\IBER. OCTOBER. NOVEMBER. Pence. Pence. Pence. Pence. 1908, JNCLUSiVE; DECE.MBI,;R. Y'AR AVG YEA HS. Pence. -59 78 5912 -5934 5914 5914 -5958 59 -5958 5914 -5912 59 -59 14 5914 -59½ 5912 -5912 593s 593s 593s 593s 5912 59½, 5912 -5934 60 -60¾-6014 6014 -603s 603s 603s -60½, 603s 6012 6012 6014 -60½, 6014 -6012 601s -6014 6014 601s -6014 6014 -603s 6012 -6058 6012 -6034 6012 6014 -60~ 60 6014 1301s -6014 5978 -60 601s 601s 5934 -59 70 59 78 5934 5914 -593s 593s -5912 5934 -60 5934 5958 -5934 593s -5958 591s -5914 5914 -593s 591s -5914 1 591s 591s 591s -5914 5914 59 4 5914 5914 5914 5914 593s 5912 5958 5958 -5934 5934 59 34 5958 5958 5912 5878 5878 -5914 59 -5914 591s - 5914 593s -59 50 593s 5912 -59 78 593s -59 78 591s -59'4 59 59 59 591s 591s 591s 5914 -593s 601s ~09~ 587s -6&3s 5878 -5914 59 -59 78 59 78 -60 5934 -60 5958 -5934 5914 -59½, 59 18 v ,, 5812 -5912 5912- 60 5912 -59 1is 5912 -59 78 5958 - 59 7s 59 70 5912 5912 -59 70 5912 -5958 5912 -59 78 591is -5934 5934 - 59 78 5912 -59 34 593s -5912 5978 -60 5978 5912 5912 -59~ 591is 591is 5958 5958 -59 7e 59 78 60 -601s 601s -603s 603s -6114 6112 6112 611s -6112 60 78 -611s 6034 -61 6034 -61 6012 -6034 60 -6058 603s 6034 59 78 -60 14 5978 -60 5978 603s 603s 603s 6034 -6118 611s -61 78 6114 -6138 1 613s 6058 -613s 6058 -611s 611s -6112 6118 -61 7s 617s -62 18 6170 -6218 6170 -623s 6158 -61'-s 6158 -6178 6078 -6134 6114 -6112 6114 61 14 61 -6112 611s -613s 611s -6112 l1~ _ 1"-· 60 58 . 6114 -613s 6112 6112 -6158 6134 6112 6112 60 -613s 6 -... 6 -q 6012 -61 61 -611s · 6034 -6114 60 70 62 6214 6114 -6158 6158 -6214 6112 -6170 62 613s -6134 61 - 6112 6178 6112 61 70 -623!-! 6112 -617s 6134 -62 6114 -613s 6112 -6178 613s -6112 6114 -61 30 6034 -61 60 34 611s -6112 6114 -6112 6114 -61~ 6178 -623s 6214 -623s 62 -6214 62 -62 34 6134 -62 6134 -62 6178 -62 62 62 613.4 6158 6158 -6134 6112 613s -615s 6158 6158 -6134 6114 -615s 6114. -613s 6078 -6134 6034 - 6078 603s -6058 601s -60 14 60 14 -6012 6014 -60 7s 605s -6034 60 7s -611s 61 -6ll.4 611s 6114 6114 -613s 61 -6158 61 -611s 61 14 -613s 6114 -613s 6114 -617s 617s -6218 615s -61:.\i 61 -613s 6114 -6158 61 -611is 61 -6114 61 -611s 611s -613s 6114 -615s 613s -6134 6158 -61:.\i 6 1 14 - 6178 6078 -611s 6118 -613s 611s -61616 61 -6112 613s -615s 6058 -6114 60 70 -613s 615s 60 5s 609 16 -6034 6012 -6034 6012 -6034 60 34 -60 7s 605s -61 611s -6114 6114 -61 34 61 916 -6l7f! 61 -6112 61 -62 615s -6214 6058 -6134 603s -605s 6034 -61 60 78 -61 60 78 -61 6034 -60 7!! 6012 603e -6012 606 16 -605s 603s -6012 603s -6012 603s -6012 6034 -6114 603s -60::\i 603s -6012 6012 -6058 603s -6058 603s 603s -60710 601s -603s 60 1s -6014 6014 -6012 603s -6012 6034 -60 7s 6012 -6058 60 - 603s 60 -6014 6014 -60510 6014 -603s 603s -6012 603s -6012 603s -60½. 603s -6058 603s -6Q½, 603s -60½, 603s -6012 6012 -62 603s -6058 6014 -603s 603s -6058 6012 -605s 6012 -605s 60316 -6014 60316 -60 14 603s -60916 6012 -6058 601is -6034 6058 -60 1316 6014 -6058 6058 -61 6012 -617s -6018 601 16 -60316 60 -6014 606 16 -607rn 60 -6014 5914 -59 34 5958 -59 34 6014 -6078 601 16 -6012 60 593s -5978 596 16 -5912 59516 -593s 581316-593 16 581316-59¾3 5812 -59 57 7s -581s 58 -58 111s 5934 58916 -5914 5812 -587s 5!:·'2 -59 5814 -5812 57 70 -5818 575s -58 5758 -57Vl16 5734 -5814 5714 -5734 571s -573s 5612. -57 55 •:. -5578 5511 16-55 7s 56 -565s 5611 16-56 34 563,1 -5718 5615s -561510 561s -5658 5312 -54 52 -54 50 -52 4634 -5112 5014 -5334 511s -529 16 52 -5358 531s -55 5514 -5812 53½. -55 5358 -5458 5312 -54 5378 - 5412 54 -5414 5414 -55 14 545s -5558 54 -55 5334 -5414 3 7 5378 -5414 5314 -53 8 5212 -537 16 525 16 -5213 16 5218 -5234 5112 -521s 4912 -519 16 503s -50 4 4912 -50 11 16 4912 -501s 5 0 -5134 5112 -5::J 51 -521s 511s -5178 513s -515s 519 16 -5334 53 -5334 523s -53 5134 -5214 521 16 -5214 523 16 -5278 5212 -52 78 52½, -52 7s 521s -525s 511316-52516 515s -517s 515s -52 51 -5111 16 50 78 -5238 5114 -517s 511is -511316 5113 16-5218 517s -52 5134 -52 52 -5218 5112 -52 521 16 -525 16 5218 -52716 5 178 -523s 515s -52 5178 -521 16 5134 -521 16 5112 -5115 16 50 78 -5134 50 -50 78 7 503s -501316 501 16 -503s 501 16 -5034 505 16 -5012 50716 -505s 5058 -501616 50 s -51 5012 -5016 16 5012 -51 5012 -51 5034 -5016 16 505s -5015 16 5011 16-50 7s 509m -50 7g 505s -50 7s 50716 -50 70 4911 16-50716 4912 -49 70 48 78 -4978 4815 16- 50 49 -49:l16 49 18 -4914 487 16 -493 16 47 14 -483s 4714 -4758 47516 -4712 46 7s -4712 4611 16-46 46 -4434 453s -4411 16 449 16 -42 425s -42 45 -4258 45 7s -4412 47 -45 7s 463s -45 449 16 -4314 4334 -437 16 4414 -4311rn 447 16 -43 7s 4514 -4414 45 -447 16 44~ -4313 16 4310 16-4358 4518 -431316 4278 -4212 425s -4158 4214 -42 425 16 -42 421s -4115 16 443 16 -4211 6 4.33s -42 70 4318 -42 7s 42 70 -42510 425 16 -421 16 4214 -4115 16 423 16 - 42 425 16 -42 429 16 -4214 4211 16-423s 4312 -4258 443s -4358 4.43s -4334 48 -43 7s 4712 -46 49 -4614 5078 -479 16 5412 -5034 545s -50 5112 -4818 4834 -45 4912 -4714 45 -43 78 451s -4414 46 -4414 463s - 455s 461s -451 16 456 16 -44 34 45 -441 16 441 16 -4312 4414 -4312 4018 -3914 403s -3911 16 411s -40116 4014 -391 16 391 16 -37 7s 385 16 -3818 3958 -3818 3914 -3834 39316 -371516 38516 -38 38916 -3758 3834 -3012 3434 -321s 34 7s -3211 16 3412 -33 7s 341s -3112 3234 -3112 32516 -31¾ 293s -291s 29 14 -281 6 28 6 , 6 -286 16 28 16 16-28 70 3012 -2811 16 30¼ -293 1 fl 299 16 -28 ' 516 296 16 -2838 2812 -27316 3078 -29 78 30 70 -303 16 3011 11-303 16 301is -303lf,. 301• 16 -3014 309 16 -30716 313s -3l,5s · 31 -3058 30Ll16-30 31311, -301 -li e 31¼ -30151, 31 91a 31 ~11< 3112 ·3 139 313s -3038 301110-30 3001 -2934 30 ·, , -2934 30 -291315 2 812 - ~83 16 283 , 6 -2712 2734 -2712 2711 1,-2638 2612 -2334 2714 -2334 27½, -2flll 6 2 12 -263s 2734 -251610 26 lf -2nll 111 2678 -2578 2712 -2 11 u 16 2r~ -27 271 ~H-~71s 286 16 -2711 16 2!'14. - 2 9 6 2Ro 1El -2 1.g 2758 -2714 28 78 -273s 2834 -28 28 -271J 1 .. 2734 - 275s 2 7J 3 16-271s 273s -2613 e 26 •11 - 6-2658 27 fl - 261 ' -1, 276 6 -261616 2712 -27flu 2 75s -2712 2811 111 -279 1, 28 • 6 -27¾ 287 6 -27 t 1~ 2914 -287 16 30316 - 2918 29 1, 16-291 , 29 7s -29½ 271516-261616 271is -2 ' 316 27916 -2714 27¼ -261316 2718 -26~ 27 -2h 7s 26 '•• -263s 2612 -253s 2534 -241516 2478 -236 16 24 -'L3o16 247 16 -2316 , 6 249 16 - '.!47 16 247 16 -2418 2418 - ~3»16 3 11 16-2.114 , 3 . - ~1 11 1, 22 5s - 21 316 25116 -2211s 2514 -24615 24916 241s 2512 -2414 ~6l\1 - ~5~10 27916 - ·, 614 2812 -27716 t.7 58 -2614 2 b716 -25 :tfl'-.1 -247 16 2515 16-2519 2618 -256 16 27 -2f>3s 27 -2 63 16 ~6?s - 26 2615 11:;-'L6½ 2 14 -'L61i 2811 6 - , 73s 26~ - ~57 6 27616 -2 n1t, 271<! -2 •,7 fl 27616 -2 678 33s -2714 2~34 -28 2 151 , -285 1,; 3()5 6 - 2815lr 30516 -29 3g 3oio16 -'21:111& 3138 -309 16 311s -21:19 6 :➔ 07 16 -29 1316 3015 6-29 7s 3134 -3016 16 329 6 -3, 11 16 :·l3 i.. -3 ·t 3 '.!3s -31 11 , , 301':i -30 3112 -2915lll 31116 -305s 3115 16-31 \32 14 -3110 319 16 -311 16 30 7s -277 16 281 16 -2 612 2634 -24 316 11 .15~ - 45 16 2413 1 •. 4 1253s -2414 2478 -243 6 243s -235s '.!431 6 -23 16 24 -23116 235 16 -223 6 'L3:l16 -22 5912 593s 60 60 14 ii~ GREAT BRITAIN-BANKS & TRADE. COMMERCIAL MOVEMENTS IN 1908. BUSINESS IN ENGLAND IN 1908. (Communtcated by our London Correspondent.) London, January 9 1909. The year just closed has been a year of depression, anxiety and stagnation. Trade has been exceptionally bad, profits have been small and employment has been scarce. There has been a good deal of distress amongst the working classes. According to the Clearing-House returns, the total clearings amounted to £12,120,362 ,000, a decrease compared with the preceding year of £610,031,000, or 4.7%. Indeed, we have to go back to the year 1904 to find as low an .amount of clearings as in the year just closed. The -clearings for the fourths of the several months, which are usually taken to indicate the amount of trade as distinct from Stock Exchange operations, show a decrease of £85,846,000, or 15.8% , and the clearings for each month separately are less than for the corresponding months last year, with two exceptions, viz.: May and August. On Stock Exchange paydays there has been a decrease of £149,775,000, or 8 .2% . In the middle of August the Stock Exchange decrease compared with the corresponding period of the year before was as much as £227,313,000. From that time onward them was a gradual improvement. On the other h:rnrl. the clearings on Consols settling days show an increase of £13,153 ,000 , or 2.1 % . The highest amount paid was on the 1st of July £76 285 000, and the largest amount ever paid on' a C~nsois settling day . As, however, the ordinary displacement of C3:8h on the 1st of July is very considerable, the clearmgs on that day this year should not be regarded as a guide for future reference. The Board of Trade returns show that the total imports during 1908 amounted to £593,140,723, a decrease compared with the preceding year of £52 ,667,219, or 8.2%. The value of the exports of British and Irish produce and manufactures amounted to £377,219 ,579, a decrease compared with the preceding year of £48 ,815,504, or 11.5% . The reexports all?-ounted to £79,665,569, a decrease compared with t he prec~dmg yea: of £12,276,515, or 13.3%. The decline in our foreign trade 1s, of course, partly due to the fall in prices, but ?Y no mean~ wholl:y so, for _there is, unquestionably, a considerable shrmkage m quantity also. Our foreign customers have not been during the year in a position to buy as fully from us as before, and therefore there has been a la:ge shrink~ge. The shrinkage is greatest in the trade with the Umted States. The imports of American produce of all kinds, though large, have fallen off more than under the circumstances would have been expected. The exports from this country to the United States have fallen off much more. serio~sly, as w_as inevitable considering the condition of thmgs m the Umted States in the early months of the year. Our trade with Canada and Newfoundland also suffered severely. Naturally, these countries shared in the crisislin the United States. Our trade with Germany also suffered very severely. At first the falling off was less than was generally expected, because the German demand for Britis_h_ coal during the early months of the year continued surpnsmgly large. But for the whole year the falling off in the trade with Germany is serious. The trade with the S~uth A_n:ierican countries also s1;1ffered, particularly that with Ch1h, where there was an mdependent cri is and a severe one. There was a marked falling off, too, in the trade with both Brazil and Argentina. In the early part of the year our trade with India was large because of old contracts which were only then being executed, but later in the year the trade with India suffered considerably. There was, likewise, a considerable falling off in the trade with Japan and China. The complete trade figures of imports and exports into and from Great Britain for three years are as follows: EXPORTS AND IMPORTS. 190 . Exports. £ Home produrts__ _ __ __ _ _ __ _ ____ ___ _ _ 377,219,579 Re-i!hlpments of Imports____________ 79,665,569 Total exports-------------------- 1907. I 190fi. £ £ 426,035,083 91,942.0 4 375,575,338 85,102,4 0 456,885,148 517,977,167 460,677,818 Total -~erchandlse_ __ __ __ _ _ _ _ _ _ _ _ _ _ _ 593,140,723 645,807,942 607,888,500 Excess or Imports -over exports __ _____ 127,830,775 147,210,682 I mports . 136,255,575 The return of the seventeen principal railway companies https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis of the United Kingdom for the year just closed amounted to £96,994,000, showing a decrease compared with the preceding year of £2,347,000, or 2.3% . Here again we have to go back to 1906 to find as poor returns. It ought to be pointed out here that the figures are not revised. They are the figures published week by week and they will be revised and corrected later on. We compare these unrevised figures of the year just closed with the unrevised figures of the preceding year. For the first half of the year there was a decrease of £172,000, or 0.9%, in the passenger traffic, while for the second half of the year there was an increase of as much as £255,000, or 1 %, making for the whole year an increase of £83,000, or 0.19%. On the other hand, there is an unbroken decrease in the goods traffic. For the first half of the year the falling off was £994,000, or 3.6%; for the second half the decrease was £1,436,000, or 5.1 %; making for the whole year a decrease of £2,430,000, or 4.4%. Probably the increase in the passenger traffic is due mainly to the goodness of the weather since the 1st of May. The first four months of the year were cold and harsh, which, perhaps, accounts for the falling off in the passenger traffic in the first half of the year. The summer was exceptionally fine and the autumn was still finer. Consequently, we find a very material increase in passenger traffic in the second half of the year, so considerable, indeed, as to blot out the decrease for the first half of the year and to give a substantial increase for the whole year taken together. On the other hand, the falling off in tbe goods traffic was greater in the second half of the year than in the first, from which it would seem that the depression in trade grew more and more as the year went on. It is to be remembered, however, firstly, that the strike in the engineering trade, and later on in the cotton trade, threw large numbers of people out of employment and disorganized great industries . Furthermore, it is to be recollected that in the Far East trade was disorganized by the drought and famine in India, the crisis in Japan and the disorganization of business in China, owing to the fall in silver. As the year drew to a close, there was a more hopeful feeling, and manufa~turers reported that orders were coming in more satisfactorily. Throughout the year the working classes were restless and dissatisfied and sometimes adopted measures very unwise even from their own standpoint. For months together there were fears of a great railway strike, which, however, was happily averted. Ultimately there was a strike in the cotton trade, brought on by the obstinacy of the card-room workers. There was, likewise, a strike in the engineering trade. All well-informed people knew that the cotton strike could only add to the distress of the country. But the card-room operatives were inexorable, although all other branches of the trade were willing to accept the employers' terms . Happily, that strike came to an end some time ago. Over and above this, the year has been a very anxious one because of political apprehensions. More p articularly, the action of Germany in regard to Morocco raised fears, not in France only but generally all over Europe , that Germany was resolved either to compel France to withdraw from the entente with England or else to fight. There are good grounds now for hoping that a better understanding has been established. At all events, the Casablanca incident has been referred to arbitration. At the very moment when this was done, AustriaHungary, by annexing Bosnia and Herzegovina, raised another difficulty which ever since has kept Europe in grave fear of a general war. At the moment of writing, the prospect seems more favorable, but even yet the danger of war weighs upon business of every kind. The revenue returns for the first nine months of the financial year show a net decrease of £5,029,503 It is to be recollected, however, that in April last there was a reduction in the sugar duty which was estimated to cost ths Exchequer £3,400,000. Moreover, the Post Office hae during the nine months made important concessions to the public which have diminished the Post Office receipts by £70,000. The falling off is much smaller than it threatened to be at the end of October, for if we make allowance for the reduction in the sugar duty and the Post Office concessions, the real decline in revenue is less than two and a half millions sterling. In the first six months of the financial year there was a falling off in the revenue of as much as £4,41&..000, whereas in the three months ended with December the falling off was only £611,000, showing a very remarkable recovery in the receipts. It looks now as if the deficit at the end of the year would be quite moderate. During the three months ended with December there was a remarkable improvement in the receipts from income tax, stamps, house duty, telegraphs and telephones. The Customs receipts of course declined because of the reduction in the sugar duty. There was also a decline of £550,000 in Excise, which is the least satisfactory of all the items . It is too early yet, of course, to form a definite opinion as to whether the recovery in the receipts from taxation during the quarter ended with December was due to special efforts on the part of the collectors to get in as much revenue as possible, or signifies that already trade has begun to improve. Un- BUSINESS IN GREAT BRITAIN. doubtedly there is a feeling amongst the commercial classes that the worst is over and that a recovery has set in. Manufacturers report that orders are being placed with them more freely than before and there is a decided rise in prices in some great industries, notably in wool. The weather in 1908 has been very exceptional and has exercised a detrimental effect upon British farming. The last two months of the preceding year were exceptionally wet, and therefore delayed winter sowing. The first two months of the year just closed were dry and somewhat cold. They were welcomed, however, by the farmers as the ground dried, and thus it was possible to make up for much of the delay caused by the extreme wetness of the preceding two months. March was a wet month, which again delayed sowing. April, for the season, was very cold and stormy, and at the very end there was an exceptional fall of snow. Owing to this condition of the weather the area under cultivation was decidedly decreased. Under cereals, for example, there was a falling off of as much as 82,000 acres, and in many other crops, likewise, there was a shrinkage. May, June and July were warm and favorable, though for a little while in June and the beginning of July there were complaints of drought. August, when dry weather would have been exceptionally welcome, was a wet month, and interfered greatly with harvesting. Unfortunately the broken state of the weather continued well into September. The end of September and all October were exceedingly fine, and, indeed, almost to the very end of the year the weather was mild and genial. The crops did not do well because of the weather. Of the cereal crops the best was wheat, which, however, was not quite as satisfactory in c; uality as in quantity. The worst was, undoubtedly, barle~,. It is said that the quality is worse than for a great mar.y years and the price now ruling for malting barley seems 1,0 show that the proportion of that quality is exceptionally 3mall. Hay and grass were favored by the weather and the potato crop was large and good The price of wheat ruled high during the year. The lowest touched was 30s. 3d. :>er quarter, which is higher than the minir,num for a great ·many years past . But the quantity of wheat now grown in this country is so small that farmers did not benefit as much by the high prices as they would have done had oats and barley ruled equally high. Although, however, the price cf wheat was higher than for a considerable number of years, the tendency was for it to drop all through the year and at the close it was decidedly lower than twelve months previously, because the promise now is of abundant crops in India and Argentina and of a fairly good crop in Australia. The chief attention of farmers is now given to thebreedingand feeding of animals, and in that re~pect the year has been about an average one. In spite of the competition of the motor, especially in the town , the demand for horses continues wonderfully good, and the prices exceedingly high. Horned cattle have also been in good demand and sheep have done well. The coal trade has, taking it altogether, been surprisingly active during the year, considering the many unfavorable circumstances which affected it. The strike in the engineering trade, the lockout in the ship-building trade, the great depression in ship-building, the extremely mild weather, which lessened the demand for house coal, and the great falling off in the foreign demand for coal, especially in the German demand-owing to these unfavorable circumstances, the price of coal tended downwards throughout the year , and yet the fall has been moderate. The volume of business was large, probably about the same as in the very prosperous year of 1907. In several districts attempts were made to lower wages, but they met with only partial success. But In some cases wages were reduced from 4 to 6%. chiefly, either the reductions were merely- nominal, or the demand of the employers for reductiont1 wafl given up. The iron and steel trades have ~:ien g1 eatly depressed during the year just closed. So far as the pig iron trade was concerned, the most depressing influence was the falling off in the demand for the United States and Germany. In the first eleven months of 1907 American consumers bought as much as 430,859 tons of British pig iron. In the corresponding period of the year just closed they only took 58,140 tons. During the same eleven months of 1907 Germany received directly and through Holland 606,518 tons . In the corresponding period of last year she took only 403,329 tons. This falling off in the American and German demand naturBut generally the ally told very seriously upon the trade. foreign demand fell off, with the exception of the French and Italian. The Italian demand in the year just closed was exceptionally large, as much as 203,289 tons. As the ship-building industry was almost paralyzed, the home demand also fell off greatly, and in consequence the whole trade suffered. Prices went down in all directions. In the finish ed iron trades the fall is from 20s. to 30s. per ton. In the pig market there has also been a sharp fall. Indeed, in the early part of the year the fall was so continuous and so marked that speculators thought it safe in February to sell on a large scale for delivery three months later. The sale price was 48s. Ultimately, as they were unable to deliver, they had to pay 57s. 6d. But as soon as the excitement was over the price dropped abruptly to nearly 49s. The great depression in the iron and steel trades naturally led to various disputes, the employers insisting that they could not go on p aying the high wages ruling at the beginning of the yea(~and the men resisting with all their might every https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 53 reduction. It is estimated that from Jan. 1 to Nov. 30 there had occurred 357 trade disputes, in which 297,854 workmen were involved, with an aggregate loss of 10 ½ million working days. Of the variousdisputes, the mostserious and prolonged were those in the ship-building and engineering trades. For seven months this dispute was continued, causing great dislocation of trade and serious loss to the men in wages. The dispute was entered upon by the men in opposition to the advice of their leaders, so much so that Mr. George Barnes, M.P ., resigned the Secretaryship of the Amalgamated Society of Engineers because, contrary to his advice, they entered upon a struggle which he foresaw would be ruinous to them. In the end the Board of Trade intervened and the representatives of the men were constrained to advise their clients to accept the terms offered by the employers. The exports of iron and steel from Great Britain have been J as below each year since 1876, inclusive. EXPORTS OF IRO Al'-1'D c-3TEEL FROM GREAT°lBRITAIN . Other Ptg Iron. Raus. Descrtpttons . Tons. Tom. 1,298,248 1,943,939 1 ,665,809 982,876 810,934 1 ,065,3 0 1,102 ,566 839,1 2 1 ,427,525 1,380,342 1,042 ,853 1,201,104 1 ,060, 165 866,56 830,9 5 840,294 767,053 840,055 1 ,145,268 1,190,371 1,036,319 1,158,174 1,0 l4,257 960,931 1, 269,576 1, 564 ,048 1,758,072 1,480,196 1,632,343 1,223,436 924,646 881 ,442 910,905 Tons. 453,574 429,161 460,328 546,569 525,371 604,076 716,210 572,724 463,731 590,667 609,403 782,045 747,662 457,552 425,242 558,375 468,003 702,247 1 ,035,43 1 1,089,892 1,020,002 1 ,011 ,779 739,651 714,276 728,540 971,165 936,949 20,67 1 693,696 463, 78 441,384 497,924 414,556 2,349,154 2,779,127 2,556,063 2,191,937 1,927,171 1,895,145 1,759,248 1,485,813 1 ,649,433 1,746,171 1,592,094 1,702,957 1,782,571 1,511,421 1,393,771 1,457 ,905 1,504,223 1,697,844 1,820 ,731 1,905,919 1,910,242 1 ,973,075 1,605,289 1,455,475 1,497,439 1,508,095 1 ,658,53 1 1,517,458 1,466,055 1 ,196,170 933,193 965 ,285 899, 09 Tolal. Tons. 4,100,976 5,152,227 4,682,200 3,721,382 3,262,842 3,564,601 3,57Y,104 2,897,719 3,540,689 3,717,180 3,244,350 3,686,106 3,550,398 2,835,541 2,649,998 2,856,574 2,739,279 3,240,146 4,011,430 4,186,182 3,966,563 4,143,028 3,385,197 3,130,682 3,495,991 4,043,308 4,353,552 3,820,315 3,792,993 2,883,484 2,296 ,860 2,346,370 2,224,470 Taking the whole year through, the weaving branch of the cotton trade has done very badly, while the spinning branch has done exceedingly well. It is quite true that during the past few months the spinning branch has begun to feel the consequences of the depression, and the outlook now is far from bright. But if we extend our attention to the whole of the past year, there is no doubt thatthespinning branch has done well. A report published of one hundred Oldham mills which make known their accounts shows that they made an averagt; profit of over 16% on their share capital for the year ended ov. 30 and that the average dividend actually distributed was 11 ¾% - In the previous year it is quite true that the profits and dividends were much higher, but then 1907 was altogether an exceptional year. Again, it appears that ninety companies which do not disclose their profits have paid a mean average dividend of 14 ½%- Finally, we find that sixty-eight other companies averaged 16.18% profit on their share capital for the year. From these figures it seems clear that the spinning branch of the trade has done well. But the weaving branch has done badly, and in the end that must tell upon the spinning branch. Besides, the erection of new· mills is going on at an extraordinary rate. It appears, for example, that spindles for Amedoan yll.rn partly working now number 1,401,164; spindles in cour1Se of erection number 1,894,624; and spindles projected number 590,000. In addition to these, spindles partly working for Egyptian yarn number 573,000; and in course of -e rection 737,956. It is stated that makers of spindle machinery are getting alarmed at the enormous additions which have been made lately and are still being made, and that they are demanding in some instances cash on delivery; in other instances, cash on placing the orders in the hope of bringing about a check. The weaving branch, on the other hand, has undoubtedly had a bad year, and though the results of their trading are not usually published, it is understood that some of them have been hard pressed. There have been a few failures, but on the whole not so many as might have been expected. The wool trade, like every other industry in the country, suffered during the year just closing very severely from the universal crisis, which began in its acutest form in the United States, but quickly spread to all the world. Our foreign customers found themselves unable to buy upon the usual scale. With the single exception of Argentina there is a falling off in British exports to every country on the globe. This falling off in business was aggravated by an accumulation of stocks in foreign countries. In the Far East, more particularly, there has been a very large accumulation of goods which could not be disposed of, and even at the close of the year the accumulation has not been got rid of. -~·>$The goods were bought at considerably higher prices than have ru1ed ever since the panic in the United States, and it will take some time yet before the glut will be completely di5:" BUSINESS IN GREAT BRITAIN. 54 posed of. In the spinning branch of the trade, moreover, the difficulties were aggravated by spinners placing in 1907 orders for wool at the high prices then ruling. The drop that followed the panic in the United States has embarrassed a great many of these spinners, and the result has been either the closing of factories or working on short time. As unemployment increased at home the purchasing power of our own public was materially reduced, and thus the difficulties of the trade were increased. Nevertheless, the latter half of the year has been better than the first half, and hope is now strong that the New Year will show a still further and satisfactory recovery. At the colonial wool auctions in London in the early part of the year, foreign buyers of every kind were very few and American buyers were almost entirely absent. Prices dropped very heavily and continued to fall away until July, when there was a slight recovery; at the September sales there was a further recovery; and at the December sales there was a very strong demand, with a still greater recovery. Moreover, the December sales were attended by good American buyers as well as by a large number of Continental buyers. Still, in spite of the steady recovery in prices from July to December, at the close quotations are lower by from 10 to 20% than they were at the closing sales of 1907. EXPORTS OF TEXTILE FABRICS. Year's Exports. 1908. 1907. Quantttte.s. Cotton yarn ________ ____ lbs. Piece goods _________ yds. Jute yam _____________ lbs. Piece goods _________ yds. Linen yarns ____________ lbs. Piece goods ___________ yds. Woolen yarn ___________ lbs. Woolen tissues ________ yds. Worsted tissues ________ yds. 214,876,200 5,532,413,200 50,158,500 166.986,900 13,705,700 151,949,000 50,910,100 75,665,J00 74,297,100 241,076,700 6,297,707,900 67,518,600 179,376 ,600 16,442,000 184,999,100 58,098,600 84,881,100 99,011,700 Values. Cotton yarn ______________ _ Piece goods ____________ _ Jute yarn ________________ _ Piece goods ____________ _ Linen yarn ______________ _ Pler.e goods ____________ _ Woolen yarn _____________ _ Woolen tissues ___________ _ Worsted tissues __________ _ £ £ 12,857,270 70,238,363 714,739 2,025,216 903,477 4,267,726 4,609,230 9,641,278 5,932,307 15,416,971 81,049,207 1,232,238 2,748,755 1,242,638 5,526,979 6,014,107 10,311,046 7,393,489 1906. 207,378,700 6,260,771,400 53,060,600 172,968,200 14,978,200 190,957,700 55,328,000 79,957,400 99,230,700 £ 11,835,603 75,372,268 865,475 2,463,845 1,007,963 5,326,955 5,339,531 9,734 ,575 6,827,700 The shipbuilding trade has been exceptionally depressed throughout the year. Freights have been exceedingly low and great numbers of vessels have been laid up because it was found unprofitable to work them, and arrangements have been entered into in large numbers between various important lines in the Atlantic trade to terminate rate-cutting. Similar arrangements have been made in connection with the general cargo freights between Brazil and the Continent and the United States; between the United States and West Indies; between the United States and the Mediterranean and between large German companies trading in many different directions. Steamers have been laid up in foreign ports with their crews on full pay. It is estimated that at present the tonnage laid up at home and abroad is about a million tons. Steel plates were quoted at the beginning of the year at £6:12:6d.; they are now nominally £6:0:0d. Prices for building are about 10% lower on the year. Second-hand steamers are about 20% lower. Sales to foreign owners have been very limited. It is not possible as yet to give an accura te statement of the tota l number of vessels built since Lloyd's Register is not yet prepared to issue its report. But we take the following figures from an exceedingly careful authority in Glasgow, which foll ows the shipbuilding industry with great attention, and whose annual estimates prove to be very nearly correct when the figures of Lloyd's Register are published. According to this authority, the total number of new vessels of every kind constructed in 1908 was 1,325, against 1,826 in 1907, a falling off of 501. The falling off really was greater, beca use barges and small craft are included. If we had the fi gures for large vessels alone, we should see even a greater decrease. The total tonnage was 1,076,362, against 1,828,295, a decrease of 751,933. The horse-power was 1,148,375 in 1908, against 1,775,705 in 1907, a decrease of 627,330. In these figures are included the outturn of the Royal Dockyards as well as the output of all other yards. The stock markets during the year have been depressed. anxious and unprofitable. Partly this has been due to the universal crisis and the political apprehensions. But largely it ii:! the result of disorganization. Heretofore, the city usually has had certain great leaders, who were followed by very large classes, and who, therefore, were able to guide the Stock Exchange. At present there is not a single leader who has an extensive following, and who, therefore, is able to give the initiative. Perhaps the consequences of the absence of leadership were never more clearly shown than in the first two months of the year. In his Budget statement in the preceding April, Mr. Asquith had given full notice that he was building up a very large sinking fund, roughly, about 15 millions sterling, and all persons who followed the weekly Treasury returns knew that only a very small portion, a mere fraction, of this sinking fund had been applied in the first nine months of the year. In the first nine months of the year the British revenue is always much smaller than the expenditure. In 1907 the Government , instead of borrowing in the open market to pay its way, as it usually had done, used temporarily the sinking fund, with the result that m the first three months of · 1908, when the revenue https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis largely exceeded the expenditures, it was able to apply to the redemption of debt the whole of the sinking fund. Every well-informed person knew that the great bulk of the sinking fund, practically about 12 millions sterling, would be applied in the first three months of 1908. Yet, strange to say, the great majority of the public looked on apathetically while, in consequence of Treasury redemption and buying back by "bears," consols were sent up about 8 points. Even more striking was the abstention of the great body of the public when the remarkable rise in American railroad securities took place in the first nine months of the year. Owing to the absence of leadership, the City utterly misunderstood the character of the panic in the United States. It took for granted that the crisis resembled preceding crises, when immense masses of capital were sunk without immediate prospect of return, and it concluded, therefore, that the depression which followed would be long continued. As a result, it refused to believe that there could be a quick recovery in American securities, and it looked on while those securities went up in a most remarkable manner, predicting that there must be a collap'se and another panic. It was not until the opportunity for making money had disappeared that the majority of our public recognized the mistake they had made. 1n other directions there was very little opportunity for making money. I n fact, the political anxieties were so general; so serious and so continuous that nearly every other department of the Stock Exchange was depressed. Even consols, which, in the first two months of the year were run up to over 88, were sent down again to under 85. British railway securities were depressed, partly because of mistaken policy on the part of Parliament, partly because of bad management on the part of the directors and managers, and partly because of the general crisis. Parliament insists, or at all events hitherto has insisted, upon maintaining competition between the railways and at the same time exercising control over them. It has been pointed out by competent critics that either control or free competition might succeed, but that both together could not possibly succeed. Yet Parliament has, up to now, persisted in the policy. The railway companies, too, have always divided their profits up to the hilt, on the principle that investors were entitled to whatever the net earnings of the railways were, and that all betterments, extensions, and so on, should be paid for out of fresh capital. The result has been a breakdown in the system which has now lasted for several years. Recently, the railway companies have been entering into arrangements amongst themselves to put an end to wasteful competition. Whether Parliament will interfere to prevent this is not known, and the consequence is that, owing to bad traffics, diminished dividends and uncertainty for the future, investors are holding aloof. Regarding the stock markets as a whole, the one really cheering circumstance, apart from the recovery in the American market has been the great improvement in the gold industry in South Africa. The best estimate that can be formed is that the total outturn of South Africa, including Rhodesia, will this year exceed 30 millions sterling . Immense amounts of gold have been shipped to this country, and the cost of working has been greatly reduced. At the beginning of the year, therefore, all well-informed persons took for granted that there would be a great recovery in prices, and active investment began. Unfortunately, the political apprehensions which have been so severe and so continuous , soon frightened buyers, and although the whole recovery has not been lost, the market has more or less been thrown into disorganization. Throughout the year money has been exceedingly cheap. On New Year's Day the Bank rate stood at 7% ; on the following day it was put down to 6%. During the month of Janua.r y it was reduced by successive steps to 4% ; in March it was reduced to 3% and in May to 2½%, and so closed the year. The open market rate for three months' Bank bills has averaged £2:6:9d. per cent, and for deposit rates at notice the average rate has been £1:16:4d. per cent. For day-to-day money the rate has been £1:19:8d. per cent. During the first three or four months of the year a good deal of gold went into the Bank of England, but since April no bar gold has been sent in. Coins have been received from India, China and elsewhere, but large as the amount of bar gold imported has been, none has been received by the Bank of England since April. As already said, the main demand for gold has been for France and India, though for a little while there was an active demand for both Germany and Austria. The situation of the Bank of France as to its stock of gold and silver, according to the last returns of each month of 1906, 1907 and 1908, was as follows: GOLD AND SILVER IN BANK OF FRANCE-(00,000s omitted). 1908. Gold. Stlv"r_ Total:, £ Jan. 30 __ 107,4 Feb. 27 __ 110,6 Mch. 26 __ 110,6 Aprll 30 __ 113,9 May 29 __ 121,7 June 25 __ 126,1 July 30 __ 127,7 Aug. 27 __ 129,0 Sept. 24 __ 129,8 Oct. 29 __ 131,8 Nov. 26 __ 135,3 Dec. 3L _ 139,5 1907. Gold. Stlv'r Total £ £ II £ 36,3143,7 11Jan. 3L- 105,8 36,2146,8 Feb . 28-- 105,5 36,3146,9 IMch. 28 __ 104,2 36,2150,11Aprll 25 __ l03,5 36,6158,3 May 30 __ 105,9 36,8162,9 June 27 __ 110,5 36,3164,0 1July 25 __ 112,4 36,2165,2 Aug. 29 __ 111,8 36,0165,8 Sept. 26 __ 111 ,5 35,6167,4 Oct. 3L- 111,4 35,6170,9 Nov. 28 __ 108,0, 35,31174,8 Dec. 26 __ 101,6 1 11 1906. Gold. Silv)Tota £ £ !I £ 39,4145,2'1Jan. 25 __ 114,2 39,4144,9 Feb. 22 __ 114,4 39,2143,4 Mch. 29 __ _116,9 39,2142 ,7 April 25 __ 119,8 39,5145,4 May 3L_ 117,6 39,7150,2 June 28 __ 117,9 39,3151,7 July 26 __ 116,9 38,8150,6 Aug. 3Q __ 116,7 38,5150,0 Sept. 27 __ 114,8 37,5148,9 Oct. 25 __ 112,8 37,3145,3 Nov. 29 __ 110,3 37,0144,6 Dec. 27 __ 108,2 £ £ 42,3156,5 42,4156,8 42,0158,0 42,2162,0 42,5160,1 42.,7 16 0 • 6 4 2 15 9 4 42,1158,8 51 41,9156,7 41,3154,1 40,4 150,7 40,0148,2 1 55 BUSINESS IN GREAT BRITAIN. In the subjoined statement we show all the changes in the is no public record. When we take all this into account, Bank of England rate in each year from 1900 to 1908 in- we shall see that the investments at home and abroad in the year just closed have been on an enormous scale. Of the clusive: total amount subscribed, there was raised for Indian, Colonial BANK OF ENGLAND RATE OF INTEREST. and foreign countries about 148 millions sterling. Of this Rate Numbe:r Rate Numbe:r latter sum, 39 millions were invested in government loans, Year. Year. % of days . % of days. - - - 9 millions in corporation stocks and 63 millions in railways. 1905. 1900. A large part of the government loans was, it may be noted, Jan. 1 to Jan. 11- ____ 6 11 days Jan. 1 to Mch. 8_ - - - - 3 67 days for railway purposes. Allowing for the government exJan. 11 to Jan. 18 _____ 5 7 days ! Mch. 9 to Sept 6 _____ 2½ 182 days 25 _____ Sept. 7 to Sept. 27 _____ 21 days penditure upon railways, the subscriptions for railways Jan. 18 to Jan. 7 days 3 4½ Jan. 25 to May 24 _____ 4 95 days nearly reached 90 millions sterling. 119 days Sept. 28 to Dec. 31_ ____ 4 Of the total invested in May 24 to June 14 _____ 3½ 21 days --- Year's average _______ 3 June 14 to July 19 _____ 3 35 days 365 days government securities, £19,363,937 were for foreign counJilly 19 to Dec. 31_ ____ 4 165 days 1906. were for India, and £14,942,614 were for -- - - - Jan. 1 to April 5 _____ 4 95 days tries; £4,950,000Foreign Year's average _______ 3.96 365 days April 6 to May 3 _____ 3½ 28 days the colonies. corporation stocks absorbed £4,4 to June 21_ ____ 4 May days 49 1901. 485,512 and colonial corporation stocks £4,652,905. For3 _____ 13 _____ 3½ 84 days 2 days June 22 to Sept. 11 Jan. 1 to Jan. 7 _____ 4 _____ 35 days Sept. 14 to Oct. Jan. 3 to Feb. 4 28 days eign railways took £42,344,634; Indian railways £6,894,250, 5 ____ 4½ 14 days Oct . 12 t o Oc t . 19 _____ 5 8 days and colonial railways £14,335,776. Feb. 7 to Feb. 21_ Miscellaneous invest105 days Oct. 20 to Dec. 3L---- 6 Feb. 21 to June 6 _____ 4 73 days ments absorbed £36,007,588. June 6 to June 13 _____ 3½ 7 days ·--31_ ____ Yea.r's average _______ June 13 to Oct. 4.27 365 days 3 The gold production of the world during the year just Oct. 31 to Dec. 31_ ____ 4 • 1:g ~:~: • 1907. 17 days closed will probably not fall very much short of 90 millions Jan. 1 to Jan. 17 _____ 6 --Year's average _______ -3.72 365 days Jan. ·18 to April lL---- 5 84 days sterling , and a very large port10n of this has come to London April 12 to April 25 _____ 4½ 14 days 1902. During the _____ 4 112 days and been offered for sale in the open market. 23 days April 26 to Aug. 15 _____ 4 Jan. 1 to Jan. 236 _____ Jan. 23 to Feb . 3½ 14 days Aug. 16 to Oct. 3L - - - - 4½ 77 days first three months of the year the Bank of England secured 238 days Nov. 1 to Nov. 4_ ---- 5½ Feb. 6 to Oct. 2 _____ 3 4 days a large proportion of the gold so arriving. From the month 90 days Nov. 5 to Nov. 7 ---- - 6 3 days Oct. 2 to Dec. 31_ ____ 4 ____ 7 54 days of April onward, with a break of about eight weeks in the -- - - - Nov. 8 to Dec. 31_ Year's average _______ 3.33 365 days -Year's average _______ 4.92 365 days late summer, most of the bar gold received from South Af1903. rica J Australia and India was exported to France, where the Jan. 1 to May 21_ ____ 4 140 days 1908. 2 _____ 28 days Jan. 2 days Bank's stock increased over 30 millions sterling. 1 to J an. May 21 to June 18----- 3½ 7 Germany 77 days Jan. 3 to Jan. 16 _____ 6 June 18 to Sept. 3 _____ 3 14 days 7 days and Austria, also obtained during the eight weeks reSept. 3 to Dec. 3L ____ 4 120 days Jan. 17 to Jan. 235 ---- 5 _____ 42 days ferred to a considerable amount of the metal. 4 On the other -- - - - Jan. 24 to Mch. Year's average _______ 3.75 365 days Mch. 6 to Mch. 19 _____ 3½ 14 days Mch. 20 to May 28 _____ 3 1904. 70 days hand, bar gold has been continuously shipped to India to the 1 to April 14 _____ May 29 to Dec. 31_ ____ 105 days Jan. 4 In December 2½ 217 days total amount of about 3¼ millions sterling. ·Aprll 14 to April 21_ ____ 3½ 7 days -- - - Year's average _______ ·3,01 366 days gold was minted for the first time in Canada at the Ottawa April 21 to Dec. 31_ ____ 3 25 4days Mint. The total imports of gold during the year into this --Year's average _______ -3.29 366 days country, according to the Board of Trade returns, were £46,145,314, and the total exports £49 ,969,099 , leaving a deficit The appended table, made up from the official statements of £3,823,785. of the Bank of England, shows the position of the Bank as Silver has been falling in price all through the year. regards bullion, reserve, &c., each week of the year: The Government of Mexico availed itself of the opportunity to coin at a good profit, but it was India which BANK OF ENGLAND IN 1908-(00,000s omUted). was mainly attracted. The lowest prices failed to give Res'rve life to the manufacturing trade at home. But week -B'Uton Deposus. SecurUtes. Market Note n both Rate of after week, from the commencement of the year, the Indian (}<JVCtrDeNotes Bank 3 Months' 1908. e:rn,.. Other. and bazaars took silver. There was, at the same time, a steady cula- . part- Publt.c. Othe:r. Rate. Bank. ment. Cotn. Btlls. , tion. · ments - - - - - - - - - - - - - fl.ow of silver rupees from circulation to the Government coffers. This, coincident with the persistent country de£ £ £ £ £ £ £ % % 1 ____ 15,8 40,8 21,5 32,5 7,6 52,7 6a 5 1-16 Jan. 8 ____ 29,5 mand for bar silver, showed, as time went on, that the na5,3 45,1 16,3 27,8 24,3 28,9 34,8 4¾ 15 ____ 28 ,4 tives, attracted by the fall in the metal, were buying orna44,5 26,9 4,5 35,8 14,3 25,9 sii 4½ 22 ____ 14,3 26,3 27,5 28,3 37,3 6,7 43,3 4c 3~4 ments. The reflux to the Treasury became an embarrass42,1 25,8 28,9 14,3 28,0 38,5 8,9 29_ -5 ____ ment to the Government, as it prevented the sale in London 27,1 Feb. 28,1 37,5 10,7 40,5 14,3 27,8 -12 ____ 27,9 38,0 13,6 39,8 14,3 28,7 28,6 3 13-16 of Council drafts. To restore the equilibrium, the gold se19 ____ -15,3 40,0 14,3 29,6 29,6 27,6 38,7 3¾ -26 ____ 27,8 curities in the gold reserve were partially replaced by silver 14,3 34,8 29,9 39,3 17,2 43,7 3 7-16 4 ____ -28,2 40,8 14,3 34 ,0 29,5 3½d 39,3 18,7 rupees. The Government shipped sovereigns from India Mch. 3¼ IL ___ 27,9 34,9 30,5 40,0 19,3 41,6 13,7 3 1-16 -41,4 34 ,2 31,3 40,6 19,6 13,7 2 13-16 and released two millions in sovereigns "ear-marked" in 3e 18. --- 27,8 25 ____ London as security for the note circulation. Against the 43,7 30,9 13,7 37,2 40,7 19,8 2¾ -1 ____ 28,2 34,4 29,2 43,4 April 8 ____ 28,9 39,7 15,6 13,7 2¾ -stock of cash thus created, tenders were invited for drafts 28,2 11,2 43,7 30,8 28,9 38,7 13,7 2 7-16 -15 ____ 29 ,1 41,4 30,0 26,1 36,8 13,7 10,7 11-16 on London, and a total amount of over 8 millions sterling ---- 22 9-16 22 ____ 28,5 30,2 26,9 37,0 10,4 42,8 13,9 was disposed of. Happily, the monsoon was satisfactory, 29 ____ 28,6 43,1 14,3 29,5 37,3 10,0 27,1 2¾ -6 ____ whereupon remittances Eastward again began. Under 44,4 27,2 May 13 ____ 28,7 9,0 14,3 29,7 37,5 2½ -28,4 43,4 14,6 29,0 37,0 9,4 27,0 2 1-16 these circumstances, a speculation was got up in the Bom-20 ____ 28,3 29,0 2 10,4 43,0 14,6 27,7 37,6 -28,8 37,7 10,4 42,8 14,6 27,7 1 11-16 bay Bazaar to "corner" the "bears" by locking up the local 2½1 273 ---____ 28,5 44,2 29,3 38,2 9,8 15,0 27,5 June 10 ____ 29,2 1¾ stocks, which at one time amounted to about two millions 29,0 9,8 44,3 15,0 29,4 27,4 38,0 ------ 1¾ sterling. The struggle between the "cornerers" and the 15,1 28,8 38,9 9,8 46,0 28,5 30,0 1 7-16 17 ---24___ 29,0 46,2 15,2 30,0 28,9 39,4 10,2 ---- 1l¼5-16 "bears" was very keen and long-continued, but ultimately ___ July 8i_____ 9,6 51,2 15,2 36,3 27,l 30,0 38,6 ended in an arrangement between the two. Still, it dis4,9 15,2 26,5 29,7 37,8 48,8 30,0 1¼ -15 ____ 29,5 29,1 15,2 26,8 organized the market for a considerable time. The imports 37,8 5,3 47,8 1¼ -22 ____ 29,5 29,3 46,8 37,8 6,5 15,2 26,7 1¾ -of silver into this country during the year amounted to 29 ____ 29,5 46,1 15,0 37,1 5,8 28,8 26,0 1¾ -5 ____ 29,9 and the exports to £13,283,888, showing a 45,4 15,5 28,5 24,6 36,1 5,2 Aur. ---- 11¾7-16 £10,326,889 12 ____ 29,5 5,1 25,5 36,5 45,5 15,5 27,7 deficit of £2,956,999. 19 ____ 29,1 8,1 44,7 27,7 27,6 38,3 15,5 1¾ ---- 1½ 26 ____ 29,2 The following are the bank and open market rates of 44,2 27,9 38,7 7,9 15,5 26,7 2 ____ 27,3 44,6 15,5 26,7 38,3 6,7 Sept. g ____ 29,5 l¾ interest at a number of the principal Continental cities on -26,4 29,1 45,5 15,5 27,5 38,1 5,7 1% -first day of each month during 1908 and on the closing 46,2 26,3 28,0 6,3 15,5 16. - - - 28,8 38,4 ---- 1l½7-16 the 23 ____ 44,3 15,5 26,5 28,2 28,8 38,6 7,6 day oflthe year: 30 ____ 29,5 8,1 42,5 26,2 26,9 38,0 15,7 ____ ____ g~ . Oet. 7 ____ 14 ____ 21- ___ 28 ____ 4 ____ Nov. 11 ____ 18 ____ 25 ____ 2 ____ Dec. 9 ____ 16 ____ 23 ____ 30 ____ 11 29,4 29,0 28,9 28,5 29,0 28,8 28,4 28 ,5 29,0 28,9 29,1 30,0 29,7 Jan. 2 1908. 36,9 36,5 36,6 36,4 35,9 35,7 35,8 35,6 34,6 33,9 33,0 30,9 30,7 b Jan. 16. 4,3 4,0 4,5 7,6 6,3 6,1 9,0 9,3 8,1 7,4 7,2 8,0 7,9 46,6 46,7 46,1 41,3 42,3 41,7 40,0 42,8 41,6 40,7 41,6 42,6 53,6 c Jan. 23. 16,6 16,6 16,0 14,7 14,7 14,7 14,7 14,7 14,7 14,7 14,7 ·14,7 14,7 26,0 25,9 26,1 25,6 26,3 25,4 26,2 29, 6 28,5 27,6 29,5 34,2 45,1 d March 5. 25,9 25,9 26,2 26,3 25,3 25,4 25,8 25 ,5 24,1 23,5 22,3 19,4 19,4 ------- --- ---- ------- 1½ 1¾ 1½ 1 15-16 2 2 1-16 2 3-16 2¼ 2½ 2¼ 2¾ 2¾ 2¼ 2 5-16 e March 19. 1 May 28. New issues during the year have been on an enormous scale. Excluding conversions and issues known to have failed, the total of new issues taken by the public amounted to 203 millions sterling. Of course, foreigners applied for a portion of this large amount. How much was taken by foreigners and how much by the British public it is impossible to say. But if we allow for even 28 millions having been taken by foreigners, the total British subscriptions would reach 175 millions sterling. The whole of this has, of course, not been yet paid up. Some of the installments will run on in the New Year. But even so, there must have been at least 150 millions sterling paid up. We have to recollect that companies working abroad apply a portion of their profits for betterments. We have to remember, also, that private individuals spend large sums abroad of which there https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1908. \Jan. Feb. Mch Apr. May J'ne July Aug Sep. Oct. Nov. Dec. Dec. 1 1 1 1 1 31 1 1 1 1 Rates of interest at- 1 1 1 ParisBank rate ______ Open market_ __ BerlinBank rate ______ Open market ___ amburgBank rate ______ Open . market ___ Frankfort-Bank rate ______ Open market ___ AmsterdamBank rate ______ Open market ___ BrusselsBank rate ______ Open market_ __ ViennaBank rate ______ Open market ___ St. PetersburgBank rate ______ Open market ___ MadridBank rate ______ Open market ___ CopenhagenBank' rate ______ Open market ___ 3 4 3 3 3 3 3 3 3 3 3½ 2½ 2¼ 2¾ 2¾ 1¾ 1¾ l¼ 1¼ 2 3 3 2¾ 4 4 4 4 4 5 4 4 6 5½ 5 4¾ 4¾ 4¾ 4¼ 3% 3¼ 2¾ 2¾ 3¼ 2½ 2¾ ,2¾ 7½ 6 7 4 4 4 4 6 4 4 4 5 5½ 5 4¾ 4¾ 4¾ 4¾ 3% 3¾ 2¾ 2¾ 3¼ 2½ 2% 2¾ 7½ 6 7 4 4 5 4 6 5½ 5 7½ 6 6¾ 4¾ 4¼ 4¼ 4¾ 3¾ 3¼ 2¾ k 4 4 4 4 3½ 2¾ 2¾ 2¾ 3 3 3 4 4 3 3 3 5 3½ 3½ 3½ 3 d 2¾ 2½ 2¾ 2½ 2½ 2% 2¼ 4¾ 3¾ 3% 3¼ b 6 5 5½ 4 4 3 3½ 3½ 3½ 3¼ 3 2¾ 2¼ 2 3¼ 3 3½ a 4 4 6 4½ 4½ 4½ 4½ 4 e 4 4¼ 4 5¾ C 4 h 3½ 3¾ 7½ 6½ 6½ 6½ 6½ 6 6 N. N. N. N. N. N. N. N. 3 3 3 3 2¼ 2¼ 2¼ 2½ 4 4 X X 4 11 4 3¾ 5½ 5½ 5½ 5½ 5½ 5½ N. N. N. N. N. 4½ 4½ 4½ 4½ 4½ 4½ 4½ 4½ 4½ 4½ 4½ 4½ 4½ 4½ 4½ 4 4½ 4 3½ 3½ 3½ 3½ 3½ 3½ 3½ 4 8 7 7 7 6½ 6½ 6 6 6 5 6 5 N.-Nomlnal, a 3 1-16; b 3 5-16; c 4 1-16; X 3-15-16; Y 3 9-16. t 2 15-16; 3 2¼ 2 6 5 6 5 6 5 a2 7-16; e 3 11-lti: h 3 13-16: 6 5 5½ 5½ 5½ 5 5 5 TRADE AND COMMERCE-RETURNS OF. FOREIGN INPORTS AND EXPORTS. DECREASED TOTALS IN OUR FOREIGN TRADE. Final eviden~e of the diminution in our foreign commerce in 1908 is furnished by the trade statement for December, issued at Washington on Jan. 15th. With but three exceptions the merchandise exports month by mont_h exhibited losses from the corresponding period of 1907, the falling off in some instances being large in amount, and imports in every month but December were generally well below those of the previous year. It is furthermore to be noted that the 1908 outward movement of goods covered a slightly smaller aggregate value than for 1906 and that the year's inward flow was materially less than in 1906 and moderately below 1905. A more complete idea of the check our foreign trade has suffered can be reached by combining the figures of exports and imports. In that way the total foreign trade is $2,869,282,928, or a decrease of nearly 477 millions from 1907, a loss of 249 millions from 1906 and a gain of only 63½ millions over 1905. At the same time a favorable feature is that our total trade has increased nearly 1,000 millions of dollars in the last decade (closing with Dec. 1908), or over 52%, against an augmentation in tlie preceding similar period of 488 millions, or less than 35%. Between 1878 and 1888 the advance was only 243 millions, or a little in excess of 20%. Thus it will be seen that notwithstanding the setback experienced in 1908, our trade during the decade which ended with that year made a greater advance than in the two preceding decades combined, and in fact almost equaled the gain recorded in the thirty-year period -1868 to 1898. As to merchandise imports for the twelve months of 1908, the total reached a value of $1,116,449,681, comparing with $1,423,169,820 in the previous year, $1,320,501,572 in 1906 and $1,179,144,550 in 1905. In 1904 the $1,000-million mark as a measure of our import movement was first reached, the total then being $1,035,909,190. The 1908 aggregate is therefore the lowest recorded since 1904. With sugar and a few other notable exceptions, all the important items jn the import schedule shared in the 307 millions loss shown by the 1908 total of imports. Luxuries naturally exhibited a decided shrinkage in the inflow, but many articles that can in no sense be so classed showed very appreciable declines. Copper imports for the twelve months were, for instance, largely below those for 1907, both in quantity and value, but part of the decrease in value was due to lower prices. Cotton manufactures recorded a decline of 23 millions of dollars and raw cotton a loss of 8½ millions. Coffee imports were slightly less in 1908 than in 1907, and iron and steel and manufactures imports in 1908 were only about half what they were in the previous year. As regards exports, agricultural products continue to be the leading item in the total. The grain crop situation in the United States in 1908, while on the ·whole a little more satisfactory than in the previous year, was nevertheless not as favorable as in 1906 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis and 1905, and our surplus available for export was consequently somewhat restricted. Better prices, however, which were received for most of the grains caused the decrease in value of the exports to be smaller than the decline i~ quantity. Thus the shipments of wheat and flour for the twelve months, although aggregating only 151,338,121 bushels, against 160,127,925 bushels in 1907, covered a value of $153,741,845 as compared with but $151,044,577 in the previous year. In 1906, 1905 and 1904 the outflow, both quantity and value, was much less than in 1908, and even in 1903, when more bushels went out, the average value, and consequently the total in dollars, was less. It is worthy of note, furthermore, that the exceptionally large exports of 1902 (212,445,731 bushels) returned a value only 11 millions greater than that for 1908, owing to the lower average prices prevailing at that time. Corn exports were materially less in quantity in 1908 than in any recent year, but on account of the higher prices obtained, the value comparison is not so unfavorable. The 1908 shipments at 37,577,717 bushels appear very small, as contrasted with 83,200,872 bushels in 1907. Breadstuffs exports in the aggregate covered a value of $196,262,583, against $214,639,465 in 1907, $189,069,690 in 1906 and $154,300,630 in 1905. Cotton shipments were greater in quantity than in 1907, but the lower prices obtained made the value comparison unfavorable to 1908. The average export price in the late year was only 10 cents per lb., as against 11¼ cents in 1907 and 10¾ cents in 1906. Thus it happens that the total value of the 8,436,143 bales exported in 1908 was only $438,829,110, against $469,826,601 for the 8,135,734 bales sent out in 1907 and $413,137,936 for the 7,450,110 bales shipped in 1906. The aggregate value of provisions exports in 1908 was only $181,490,154, against $197,634,350 in the preceding year and $208,586,501 in 1906. Petroleum shipments for the twelve months of 1908 were of record total, both as regards quantity and value, having been over 1,500 million gallons and $108,815,455, against 1,295 million gallons and $91,383,064 in 1907, and 1,270 million gallons and $85,738,866 in 1906. Of the other important articles of export in which there has been notable expansion in recent years may be mentioned wood and its manufactures, and iron, steel, &c. In the former of these the shipments advanced from $54,239,776 in the twelve months of 1905 to $77,255,225 in the like period of 1906 and $86,082,714 in 1907, but in the twelve months of 1908 there was a drop to $71,437,748. Iron, steel, &c., exports advanced year by year until in the twelve months of 1907 a total of $197,066,781 had been reached; the corresponding aggregate for 1908 is only $151,113,114. To indicate the changes from year to year in the export totals of leading staples, pointing out at the same time the relation those principal items bear to the aggregate outward movement of merchandise, we 57 TRADE AND COMMERCE. have compiled the subjoined table, which covers the results for the last six years. EXPORTS OF LEADING PRODUCTS FOR SIX CALENDAR YEARS. Exports. 1908. 1907. s $ 1906. I ii 1905. I 1904. 1903. I s s s 378,635,778 Cotton. __ 438,829,110 469,826,601 413,137,936 368,839,188 392,600,1544 Breadst'fls 196,262 ,583 214,639,4 5 189,069,690 154,300,630 98,307,218 200,012,302 Prov'n<i&c 181,490,154 197,634,350 208,586,501190,600,703166,164,40·1 181,476,994 Cattle,sh'IJ & hogs_ 27,533,329 34,808.819 39,445,859 42,974,935 43,646,211 38,932,402 Pe 'I'm &c 108,815,455 91,383,064 85,738,866 79,640,929 80,624,207 72,628,539 Total_ __ 952,930,631 1008372299 935,978,852 860,117,841 757,581,228 871,686,075 All other exports_ 1799,902,616 915,053, 906\862 ,264 ,582 766,872,954 693,727 ,5121613 ,067 ,008 Total ___ 1752833247 192342620511798243434 1626990795 145130874011484753083 From the foregoing it will be observed that in 1908 the greatest loss was in the item "all other exports," which dropped from $915,053,906 to $799,902,616, whereas in the corresponding period the value of the five leading staples showed a decrease of but 56 millions of dollars. If, however, we extend the comparison to cover the earliest and latest years in the table (1903 and 1908), we find that the most favorable showing is made by "all other exports," which increased in the interim 186 millions of dollars, against an augmentation of only 81 millions in the leading items. And this lends confirmation to our remark that the expansion of our manufacturing and other industries has eliminated agricultural products as the preponderating element in our foreign trade, although they continue to be the most important. The decline in imports for the year having been much greater than in exports, the trade balance in favor of the United States in 1908 exhibited a large increase over that of the previous year, and was in excess of any total heretofore recorded, with the exception of 1900, compared with which it shows a decrease of approximately 12 millions of dollars. The favorable balance in 1908 was $636,383,566, against $500,256,385 in 1907 and $477,741,862 in 1906. In contradistinction to 1907 the movement of gold was against us in 1908. Very heavy imports of the metal in the closing months (November and December) of 1907 gave us a net inflow for that year of $88,182,391. In 1908, after the first two or three months, the net movement was quitesteadilyoutward, and for the full year aggregated $30,969,357. Of silver we exported net $9,640,705, against $15,713,506 in 1907. Bringing together the various net balances we reach the following comparative results of the foreign trade as a whole. MERCHANDISE EXPORTS AND IMPORTS (CALENDAR YEARS). $ 1870 1871 1872 1873 1874 1875 1876 1877 1878 1879 1880 1881 1882 1 83 ---------------------------------------------------------------________ __ - - - - - --------------________ 1884 1885 1886 1887 1888 1889 1890 1 91 1892 1893 1894 1895 1896 1 97 1898 1899 1900 1901 1902 1903 1904 1905 1906 1907 1908 ---------------------------------------------------- - --------------------------------------------------------- -- ---------------------------------------------------------------- TotaJ ___________ 646,024,271 515,969,891 494,471,112 469,420,212 439,457,753 Gold exports. _____ 30,969,357 *88,182,391*108,870,222 *3,498,938 36,408,593 Grand total _____ 676,993,628 427,787,500 385,600,890 465,921,274 475,866,346 * Excess of Imports. It will be noticed that with all items included, the year 1908 exhibits an excess of exports of $676,993,628, which compares with $427,787,500 in 1907 and $385,600 ,890 in 1906, and is, moreover, a record aggregate. As a matter of record, we append several additional tables, which have been drawn upon very largely in the references contained in the remarks above. BREADSTUFFS AND COTTON EXPORTS FOR CALENDAR YEARS. 194. 1905. 1906. 1907. 1908. Wheat and flourBushels ____ 152,500,000 160,127,925 127,209,434 71,788,579 64,957,158 Values _____ $154,900,000 151,044,577 $107,585,377 $67,101,166 $61,23c,117 83,¼c 82 9-16c. 78¼c. 94.¼c. 99½c. Wheat, av. price $4 37 $4 40 $4 08 $4 25 $4 n Flour, av. price. 46,498,607 Corn-bushels _ 39,700,000 83,200,872 102,518,817 111,265,931 Values_ 25,326,000 $46,991,377 $52,840,269 $60,154,326 $25,257,143 54 5-16c. 54c. 5l½c. 56 7-16c. 67c. Av. price____ 1,220,134 25,480,450 28,822,001 1,745,859 1,200,000 Oats-bushels _ $512,684 $9,336,121 $9,960,006 $886,04.0 $604,500 Values _ 4115-16c. 34 9-16c. 36%c. 50¾c. 50¾c, Av. price____ 7,093,436 8,009,374 7,450,110 8,132,734 8,440.000 Cotton-bales_ 10 15-16c. 9½c. lO¾c. ll¼c. l0c. Av. prJce____ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 403,586,010 460,352,088 468,837,948 567,757,867 569,872,553 510,947,422 590,666,629 620,302,412 737,091,973 765,159,825 889,683,422 833,549,127 767,981,946 795,209,316 749,366,428 688,249,798 713,347,290 715,212,840 691,620,852 827,055,750 855,399,202 970,265,925 938,020,941 875,831,848 825,102,248 824,860,136 1,005,837,241 1,099,709,045 1,255,546,266 1.275,467,971 1,477,946,113 1,465,375,860 1,360,685,933 1,484,753,083 1,451,318,740 1.626,990,795 1,798,243 ,434 1 ,923,426,205 1,752,833,247 I mports. $ 461,132,058 573,111,099 655,964,699 595,248,048 562,115,907 503,162,936 427,347,165 480,446,300 431,612,383 513,602,796 696,807,176 670,209,448 752,843 ,507 687,066,216 629,261,860 587,868,673 660,893,586 704,576,343 719,484,680 762,884,881 814,909,575 818,364,521 830,490,141 766,239,846 676,312,941 801,669,347 681,579,556 742,595,229 634,964,448 798,967,410 829,149,714 880,419,910 969,316,870 996,494,327 1,035,909,190 1,179,144,550 1,320,501 ,572 1,423,169,820 1,116,449,681 Totat Trade. Excess. I $ $ Imp. 57,546,048 Imp.112,759,011 lmp.187, 126,751 Imp. 27,490,181 Exp. 7,756,646 Exp. 7,784,486 Exp. 163,319,464 Exp. 139,856,112 Exp. 305,479,590 Exp. 251,557,029 Exp. 192,876,246 Exp. 163,339,679 Exp. 15,138,439 Exp. 108,143,100 Exp. 120,104,568 Exp. 100,381,125 Exp. 52,453,704 Exp. 10,636,497 Imp. 27,863,828 Exp. 64,170,869 Exp. 40,489,627 Exp. 151,901,404 Exp. 107,530,800 Exp. 109,592,002 Exp. 148,789,307 Exp. 23,190,789 Exp. 324,257,685 Exp. 357,113,816 Exp. 620,581,818 Exp. 476,500,561 Exp. 648,796,399 Exp. 584,955,950 Exp. 391,369,063 Exp. 489,258,756 Exp. 415,409,550 Exp. 447,846,245 Exp. 477,741,862 Exp. 500,256,385 Exp. 636,383,566 864,718,068 1,033,463,187 1,124,802,647 1.163,005,915· 1,131,988,460, 1,014,110,3581,018,013,794 1,100, 748,712 1,168,704,356 1,278,762,621 1,586,490,598 1,503,758,575 1,520,825,453 1,482,275,532 1,378,628,288 1,276,118,471 1.374,240,876 1,419,789,183 1,411,105,532 1.589,940,631 1,670,308,777 1,788,630,44& 1,768,511 ,082' 1,642,071,694 1,501.415,189' 1,626,529,483 1.687,416, 797 1,842,304,274 1,890,510,714 2,074,435,381 2,307,095,827 2,345,795,770 2,330,002,803 2,480,247,410 2,487,227,930 2,806,135,345 3,118,745,006 3,346,596,025 2,869,282,928 EXPORTS 12 MONTHS ENDING DEC. 31. 1907. 1908. 1906. Exports_________________ $25,264,939 $25,597,272 $24,744,762 Implements Agricultural 5,756,972 • 4,409,186 Automobiles and parts oL _____________ 4,948,594 9,191,023 Cars!!or steam railways__________________ 5,727,330 6,605,412 30,683,659 40,200,096 Coal---- - -------------- - -------------- 36,886,509 Copper, not Including ore ________________ 90,555,503 100,800,355 89,013,011 26,323,062 Cotton manufactures ____________________ 26,854,183 42,961,048 2,862,845 Hops __ _ __ _ _ _________ _ _ _____ ___ ___ _ _ _ _ 2,455,410 4,051,634 12,990,110 Instruments, &c_ _ _ _ _ _ _ _ _ _ _ _ _ __ _ _ _ _ __ _ __ 9,288,074 13,282,363 Iron, steel, &c __________________________ 151,113,114 197 ,066,781 172,555,588 42,420,076 Leather, &c _________ ___________________ 40,530,356 45,191,248 22,266,677 Naval stores ___________________________ 18,047,495 20,840,212 19,651 ,232 OU, vegetable __________________________ 21,777,194 16,382,639 10,209,448 ParaUJn and paratlln wax________________ 6,922,638 8,462,504 8,856,352 Seeds _ _ _ __ _____ __ _ _ _ __ _ _ _ _ _ _ _ _ __ __ _ _ _ _ 5,522,494 14,259,421 32,841,503 Tobaccco, not !ncludlng manufactured _____ 32,644,984 32,120,495 86,082,714 Wood and manufactures _________________ 71,437,748 77,255,225 IMPORTS 12 MONTHS ENDING DEC. 31. 1907. 1908. Imports1906.L $3,157,168 Automobiles ________ _ _______________ $2,558,819 $4,416,048 6,586,900 Books _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ __ _ _ _ _ _ _ _ _ __ _ 5,161,407 6,180,152 5,245,435 7,035,176 ------------------------- 7,491,343 Breadstuffs 86,668,908 Chemicals, &c ________________________ __ 66,822,109 78,645,985 4,129,555 5,398,167 4,059,786 Coal-------- - ------------------------- 12,999,836 15,165,579 Cocoa or cacao _________________________ 10,176,767 72,252,465 71,824,961 Coffee ------------ --- ----------------- 71,807,994 38,790,334 Copper-pig, bars, Ingots ________________ 22,930,261 30,478,769 21,810,910 Cotton ____ ____________________________ 13,465,318 10,711,540 79,524,943 Cotton manufactures ____________________ 56,532,199 68,911,375 41,948,545 Flax, hemp, &c.-unmanufactured ________ 30,090,053 39,144,052 65,554,648 Flax, hemp, &c.-manufactured __________ 44,883,173 68,412,339 40,455,067 Fruits and nuts _________________________ 30,307,169 32,709,802 83,884,981 77,650,059 57,653,781 Hides -- - ----------------------------38,789,851 19,957,261 Iron and steeL ___________________ ___ ___ 34,827,132 34,587,571 Jewelry, dJamonds, &c __________________ 15,752,310 46,047 ,021 18,892,533 Leather and manufactures ________________ 11,524,473 18,246,549 15,320,203 18,588,115 Olis --------- - ------------------------ 17,933,396 12,783,406 Paper and manu!actures _________________ 10,466,365 8,438,831 71,776,374 SIik-raw, &c ___ _______ ________________ 64,239,034 64,734,493 41,035,836 SIik-manufactured ____________________ 27,020,212 34,621,064 79,015,471 83,389,812 Sugar------------------------------ - -- 88,906,795 14,047,046 16,660,322 Tea ---------------------------------- 14,892,961 37,446,508 32,075,091 Tin ---------------------------------- 23,932,560 24,291,164 Tobacco--unmanuractured ______________ 24,506,028 26,627,147 47,603,716 Wood and manufactures oL ______________ 39,638,216 40,657,601 39,673,007 Wool-unmanuractured ________________ 23,304,465 38,361,869 23,416,434 Wool-manU!actured ___________________ 15,552,243 22,667,472 GOLD. SILVER. Yf,/1,r Endtng Dec. 31 YEARLY TRADE BALANCE. 1904. 1905. 1906. 1907. 1908. $ $ $ $ $ Excess ofMerchan. exporti; __ 636,383,566 500,256,385 477,741,862 447,846,245 415,409,550 Silver exports----- 9,640,705 15,713,506 16,729,250 21,573,967 24,048,203 Exports. Cal.endar Year. 1870 -1871 -1872 -1873 -1874 -1875 -1876 -1877 -1878 -1879 -1880 __ 1881 -1882 -1883 -1884 -1885 -1886 -1887 -1888 -1889 -1890 -1891-_ 1892__ 1893 -1894 -1895 -896 -8971898 -1899 -1900 -1901 -1902 -190~ __ 1904 -1905 -1906 -· 1907 -1908 -- Exports. Import!. s Excess o1 Exports(+) OT Exports. Imports(-). s 53,103,745 10,430,561 +42,673,184 44,915,975 5,841.948 +39,074,027 68,638,125 11,113,290 + 57,524,835 25,496,118 20,537,254 +4,958,864 43,14.9,091 7,422,806 +35,726,285 53,413,947 14,338,789 +39,075,158 31,231,739 23,673,291 +7,558,448 18 ,982,638 11,629,655 +7,352,983 8,655,948 10,477,859 -1 ,821,911 4,115.446 78,767,941 -74,652,495 3,062,459 73,644,698 -70,582.239 2,603,543 60,398,620 -57,795,077 38,721,079 13,402,528 +25,318,551 6,048,770 22,055,961 -16,007,191 40,948 ,246 27,957,657 + 12,990,589 11,417,207 23,645,311 -12,228,104 41.283,222 41,309,835 -26,613 9,144 ,426 44,903,327 -35,758,901 34,526,447 11,034,074 +23,492,373 50,935,412 12,061,520 +38,873,892 24,063,108 20,379,456 +3,683,652 77,093,065 45,203,377 +33,889,688 70,545,328 18,165.056 +58,380,272 79,983,726 73,280,575 +6,703,151 101,849,735 21,3'i0,607 +80,4.99,128 104,967.402 34,396.39~ +70,571,010 58,256,890 104.731.259 -4.6,474,369 34,276,401 34,022.812 +253.589 16,194,954 158,163,952 -141,968,998 45,379,411 51.334.964 -5,055,553 54,134,623 66,749,084 -12,614,461 57,783,939 54,761,880 +3,022,059 36,030,591 44,193 .317 - -8 ,162,72~ 44,346,834 65,267,696 -20 ,920,862 121.211,827 84,803.234 +36,408.593 46,794,467 50,293,405 -3.498,938 46,709.158 155,579,380 -108 ,870 222 55,215,681 143,398,072 -88,122,391 81,215,456 50,246,099 +30,969,357 Imports. $ $ 27,846,083 32,524,495 32.048,799 38,076,207 29,577 984 25,889,567 25,122,736 29,336,929 18,209,252 21,701.552 12,983,442 17,063,274 17,317,055 25,794,670 29,563,748 33,280,542 27,112,707 27,733,192 30,020,603 20,742,875 28,609,101 27,930,116 36,362,281 46,357,748 47,245 807 54,211,086 64,056,741 58,661,?92 53,797,10<! 53,461 737 66,221.664 55,638,358 49.?72,954 40.610.342 50.135,245 57 .513,102 60,957,091 61,625,866 51,837,671 15,259,199 10,962,467 10,068,714 9,212,185 7,830,998 8,547,357 10,798,043 12,141,560 18,389,884 14,425,017 11,631,025 8,595,645 9,098,385 14,153,357 15,504,777 17,772,718 19,758,414 21,000,721 21,761,359 26,799,458 30,764,904 27,915,905 31,452,956 27,765,696 17,633,594 24 373,347 30,279,715 33,082,302 29,131,580 30,843,929 40 .100 ,343 31,146.782 26,402,935 23,974,50ll 26,087.042 35 939,135 44,227,841 45,912,360 42,196,966 Exce!s of Exp'rts( + )OT Imports(-). $ ~ +12,586 884 +21,562,028 +21,980.085 +28,864,022 +21,746,986 +17,34.2,210 + 14,324,693 +17 .195,369 -180,632 +7,276,535 +1,352,417 +8,467,629 +8,218,670 + 11,641,313 +14,058,971 + 15,507,824 +7,354,293 +6,732,471 +R,259,244 +13,943,417 -2 ,155,803 +14,211 +4,909,325 + 18,592,052 +?9,612.213 +29.837,739 +33,777 001 +25,578,91JO +24,665.724 +22,617,808 +26 .121,321 +24,491,576 +22,870,019 +16,635,834 +24,048,203 +21,573,967 +16,729.250 +15,713,506 +9,640,705 Nc1.e.-For years 1886 to 1908 Inclusive, the figures emt?race gold and sllvel"' In ore; In the years preced1ne- both were Included In the merchandlBe movement. TRADE A D COMMERCE. 58 EXPORTS OF LEADING ARTICLES FOR YEARS IMPORTS AND EXPORTS BY ENDING JUNE 30. FISCAL YEARS. The subjoined statement, compiled from the latest The table below shows the exports and imports m revised figures, shows the exports of leading articles each fiscal year (ending June 30) since 1876. in each of the last three fiscal years. All items are inMM~O~MMM¢NMOM~OOM~n~•,...oo~nc.moooo~M~~ 00~~00~~0000,...,...oon•o~~,...,...oo,...~~~~nmoo•N•o cluded the exports of which exceeded $1,000,000 in m~~~·NN•o~nNOQM•O~M··•~om,...~000~• .... ,,;~oo~~~~~,,;o~~,..;o~.;~~N~,,;~,,;.;ooo~,,;,,;~~,,; value in any one of the years. ~••nNonm~omnn,...•m~•m,...m .... ~• ~QoooomNom OO~NN~·•Nmomooo~OO~M·~• .... m•oo~o~M•~N .;oo.;,..;~oo~,..;~,..;~Noo,,;~N~~~,..;,..;~.;,..;~,..;o,..;~,..;M,,; M~~~~~NN~NNNNNN~M MM~ oo•,...~•,...o•N•n~o~MMNONon~~o•oo NMon ~ •m~~N~m•o•M~N•oo~~•ooooooM~Momoomn~0 M~nn,...,...Nmoooo•o•,...ooo•o~ooNN~ ~o~~norlOM ~.;~~~~,,;o,,;~~~~,..;o.;Q~~~,,;.;N,,;,.;Nood.;~,..;~ ~~~oo~~,..;,,;N~N~~~,,;.; ~,..;~~,..;~ooooN,,;.;~~oo ,...n~m~ ,...,...NnN• moo N~•~~,... ~o ~•Nn .... ooon~rlOO~onnQON~OO~OOMQO~OQ • • rlO nrlOrl.~rlNNNN~OnM•~~~oooo•ooo•rl~QOrlQ AAAAAAAAAAAA~AAA~AAAA~AAAAAAAA~~ ~~~~§~~~~~~~~~~~~~~~~§~~§§~§~~§§ •,...mNoonoomm•n~~~•mMoo••mMoo~nNo~•n• Q~~MM~~MNQ~O~~M~N~O~~~MQN~~oc~~~ 0N¢Q~m•o•m•mNN¢¢~Q NNM0000000 • • Q~Om~ N~~,,;NNoo.;Noo,,;No~~.;.;.;ooN,,;N~,..;NooN~oo~~,..; ,...oomm~omoomoooo~~~oo~,...~ooN•oo~~n•~on•• ,..;~~~~.;oN~~~ooN~~N~~.;N,.;.;~~~~~~,..;~~~ ~~mo~No~o•NN o~o,...n~ooo,...N•m~omo,...•m ~~M~~MO~M~~~O~M~~~~~~~~~~QQN~~ON~ MN~~~~~~~~~~~ N N MM MNNMN ~~~~~~~~~~~Ai~~~A~~~~~~~~~~~~~~~ ~~~~~~~~~~~~§~~~~~~~~~~~~~~w~~~~ ~o~•~o~mMQ.QOOQOOQ~~~OWQ~~OOQNNnnN O~NQrl~•NnrlO • • NW~rlOrl~nn~~WC.~OMO~O wmww~~••mN~QNQ~~MNnOONO NMn~~WOON ~~~~~dd~~~~~~~oo~~~~~~~~~~ON~d~~ ~~noo•Nrl~~MQnW~Qrln~ N • • OrlMOOn~~•mMN ~~•~WWNO~~NOOW~w~•N~QMn~N~N•WW~Q ~~o,,;..;..;o..;,,;~..;oo~~NNOO~o,..;.;..;~~~~~oo.;~~ NNNrlrlMNNnNNNnnNn•~•mo~~~m••••o~~ ·~·~NOW~NM~·~,...·~•,...n~OM¢Q~O~m•~m• ~~MN~~~~QQ~~~~~N~~W~~~~~~~~~NQ~N n•OOrlWWQWrlrlNN•on~Orl~~nC~rlQ~QO~rlQ o~~~d~o,..;~N,..;<ON~N.;000,..;~,..;..;N<O.;OOO~~~~N ~QOWMOWOW~~o~~~m Q~~nomoNo~mQ~C. ~C.M ~N~O~~oo•0~n0Nnrl¢Qrl•n•~Nrl~O·~~M• '°~~,,;NN,..;,..;ooN~~~~'°o~~'°No.;~~~~~,..;N~,..;N ,...~,...w~~~m~•,...n•~••woM~~ n,...• • N 0¢rlWO~NQ~Orl~~•ow•N~WOONNM~Q~oowm NO·~•~oo~nrlO~WM•Q~On~nOWQO~~oo~• N~•onN•o~wN~nmoo,...,...~,...c.~nnoo•mNo~on .;.;QOO~N~~Q~,,;~,..;~o~.;o~~,,;N,,;~~~,..;~,..;~~~ ~onM~•nMWNW~ONW~m•noQWNWOrl.NOO~~ ~•w•mn~oo~,...~,...Q•oo•No,...~oo•o•~~,...oo~oow~ N~OdNo,,;ONQ<O.;N~~O~N~N0,..;~~~,..;00~,,;oo 00,...no~N••~,...0•~oon~oooo~nNowooNm,...•ooo mo~oo0~oo~~o~m~ooooqwoowooq~~~~~~•~~~~ ~~o•~ONrlrlrlOON~·~•~oon~O~QQ~.,...,...,...N n .... ~~n•~n~~nNo~,...m~w•~N•~•~•c.mn~~o onooommN•~oo•o~~oNo•~oom~n~N•oo•~,...N ~~ CJ;_; till ~~ ~ ~ .; ~QN O<ON ,..;~~.;.; ~ ~,,;L?.QQ ~'°,..;Q ~~ oo..;..; '°~NL,;,,; oo,,;~NNN~,..;Q~odN~,.;,,;Qo,,;,.;~,..;N~.;o~~N~N NNM ,...,...,...,...N,...,...NNNMMNn•~~·~~~••nn~•~ ~~ No ~o~onn~oMoo~nm~o•o• Nmo~~Noom~o~ ~••~•0~0mMOO Nno~~o•,...~w,...• ~0,...0~~0• ri)~ ~ ~ ,...0~0~~0•0m••NN,...,...n•~mN,...Nn0ooo~n•oN ~~~gg~g~~~g~:~~~~~~:~~~~g~~~i~~~ ~~ ~i~iiiiiiiiiiii~rii~giiiiiiiiii~ii ~~J~:1:J~~~~:~::~J~~:~~~~~~:1:~~ ~~ !c ~: n n n ,...~,...oo•om~on,...N•~••~ooN•~ N ~~ O Articles. ~M~ ~ ~ C,)~ Q _Cj_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ __ w_,..._ _,... •ooom~NNNm0n•ooon,...~~o~nnN,...m,...N~,...N•~ NOQ~•nn~•NNOONOOrlWnQWOrlN~OOOrl•wn~ NN~no~moo0~0,...000No~0~•m0N~wwnomnon odo<0dd.;~N~NNN~0No~No~,..;,..;~N,..;,..;d~,,;~~ ~ooo,,;~,,;~~,.;.;,,;,,;o.;N.;,..;~,,;,,;No,,;oodN.;,..;~~~ ~OOQNOOnONNmooon•~rlnOQOnrlO~O~QnQrl~n ~o••NnNmoomNmooo~nnooooonmmwn~•~,...oo ~m~nQQNNQOQOOONNN~ONnNONQ~··Nrl~Q~~ ~omoooo~w~~m~o~oowowoo~oooNNn•Mn••~oooo ~~~~~~~~~~~~ ~ ' Mfc~~f. •~0000•0~00,...~ooN~•,...oo~o•n•~•~oo .... 00,... n~•o~~•,...o•o,...~~o~w,...omoo~o~w~Nmmn•N NNOnNo,...nmnmnooM~•n,...~o~m~,...,...Nono~Nn <00~~,..;~~,..;,..;,,;o~~,,;NQ~~~.;~,..;~,,;,..;,..;N.;oo,..;o~ ~•nN~n~MMQ•~noo•no~•OONMQ~~~NOO~~Nrln Nno~cn~~O~QQNQNOM•n~onQ~OOQOON~n ..;,,;.;oo~~N~ON~ON~Q,..;N<O,,;~o~~~N~Q,,;~~~ Nrl won~NNN • • ,...,...,....N~nnwNoo•m~•0~0,...• ,.....,...., ,-,-f ,.....,..... ~~~~~i~~~~~~~~~~~~~i~~~~~~~~~~~~ ,...~~~m~o~n,...~,...o•,...•0~~0•0•,...,...0Nno••~ ,,;,..;~~~~o~~'°~~,..;o,.;No~~~oQoo,..;No~~MN~,..; ..;~~~N~~~~.;N,,;.;~~~~~,..;~~~~c,,;~.;,..;~..;~~ ~M•m•NNO~noN•w•N~~n~~ .... Q.NONQMNnQ N~~~onOOQNn .... ~n .... ,...ooo~Nn••·~NMOOMON• ~no~0~0,...m~•no,...nc.••00~~0,...0,...n~o~~•n •••mo~~o~mm~~~woowo~~~om~OOQ~Q~~~~ ,-,-1,-,-(,-,-f,-.t I I I I I I I I I I I I I I I I I I I I I I I I I I I I 1 I I I I I I It ~OOQOMNn•~~~OOQOM Nn•~ o~OOQOMNn•~m~oo ~~~OOOOOOOOOOOOOOOOOOOOQQQQQQQQQQOOOOOOOOO OOOOOOOOOOOOOOOOOOOO~OOOOOOOOOOOOOOOOOOOOOOWQQQQQQQ~Q ,.....,.....,.....,....,,.....,.....~,.....,.....,.....,.....,.....,-,-f,-,-f,-,-f,-,-f,-,-f,-,-f,-,-f,-,-f,-,-f,-,-f,-,-f,-,-f,-,-f,-,-f,-,-1~,-,-(,-,-f,-,-I,..... Note.-Totals ot gold coin and bullion and silver coin and bullion In 1895 tO 1901, inclusive, Include gold and silver In ores. In preceding years gold and silver In ores were Included In merchandJse. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1907-08. 1906-07. 1905-06. Agricultural Implements , value _____ $ 24,344,398 26,936,456 24,554,427 3,497,016 5,502,241 5,277,847 Automobllesandpartsot,value ____ $ Bacon and hams _____ ___ ___ ____ lbs. 462,959,563 459,900,195 555,478,512 value -- ----------- $ 50,648,305 50,169,179 55,921,304 do do 6,430 446 1,615,808 2,467,875 Beet, canned, value _______________ $ do fresh and salted----------lbs. 249,050,192 345,350,070 349,341,808 value -- -------$ 23,659,327 30,215,455 29,029,843 do do 8,653,231 4,556,295 3,205,558 Barley, value_ - - - - - - - - - - - - - - - - - - -$ 5,839,452 5,813,107 6,107,053 Books, maps, etchings, &c., value--$ 3,474,981 4,580,455 3,701,871 Brass and manufactures of, value ___ $ 6,463,061 12,544,777 27,360,537 Butter -- --------------------- lbs. 4,922,913 2,429,489 1,407,962 do value __ ------------------$ Cattle and sheep, value_ - - - - - - - - - --$ 29,928,419 35,327,634 42,885,260 Carriages and horses and trolley cars, and parts or, value ______________ $ 6,967,519 5,650,731 5,806,972 Cars for steam roads, value ________ $ 8,550,263 7,679,535 6,644,944 Casings tor sausages, value _________ $ 3,959,384 3,422,271 2,572,479 Cement, value __________ _________ $ 1,470,317 1,180,415 1,165,161 1,885,915 Cereals, prepared, table food, value_$ 1,942,238 2,208,585 Cheese, value ____________________ $ 1,092,053 2,012,626 1,940,620 Chemicals, drugs and dyes, n ot Including medicines, value _________ $ 14,397,342 14,539,186 13,738,840 2,598,441 3,169,272 2,848,725 Clocks and watches and parts, value_$ 1,970,401 2,481,920 2,837,778 Coal, anthraclte _______________ tons 9,722,322 value ------------$ 13,837,397 12,154,640 do do 7,155,592 8,812,332 9,944,957 Coal, bltumlnous ___________ ___ tons value ------------$ 25,518,362 22,573,122 18,494,054 do do 3,600,987 4,959,417 4,788,471 Coffee, value---------------------$ 2,435,604 3,013,088 2,718,385 Coke, value----------------------$ 1,895,971 1,838,588 1,808,131 Copper ore, value----------------$ Copper, manufactures of, value_ - - - _$ 104,064,580 94,762,110 81,282,664 Corn ________________________ bush. 52,445,800 83,300,708 117,718,657 do value -- ----- ---- -----------$ 33,942,107 44,261,816 62,061,.856 1,623,397 2,313,410 2,053,447 Corn meal, value _________________ $ 4,154,183 6,166,910 6,035,418 Cottolene, lardlne, &c., value------$ 162,459 76,058 126,996 Cotton, Sea Island----------100 lbs. other ______________ 100 lbs . 38,042,991 45,106,114 36,177,992 do 3,335,022 2,075,446 3,351,132 Cotton, Sea Island, value_ - - - - - - - - - $ do other, value __________ _____ $ 434,434,070 479,202,351 397,670,899 Cotton manufactures-Colored--Yds. 80,264,971 120,286,042 116,975,946 6,929,307 7,502,082 5,809,019 value -----$ do do Uncolored ______________ ___ yds. 125,729,841 206,054,297 594,517,108 8,459,064 13,737,165 36,252,553 value -- _____________ $ do 9,762,173 All other, value----------------$ 10,909,675 11,066,165 1,370,765 1,182,914 796,277 Cycles and parts of, value----------$ 1,080,274 1,097,000 1,145,679 Earthen, stone and China ware, vaL$ 1,038,649 1,542,789 1,540,014 Eggs.value----------------------$ 4,839,690 4,466,358 5,874,140 Feed grain tor a nimals, value-----$ 8,686,965 8,596,711 Fertilizers, value _________________ $ 10,970,931 7,559,178 5,536,856 5,685,916 Fish, fresh, dried, pickled, &c . , vaL$ 8,157,211 8,308,112 7,225,798 Flax, &c., manufactures of, value--$ Flour (wheatJ---------------- bbls. 13,927,247 15,584,667 13,919,048 do value -- -------------------$ 64.170,508 62,175,397 59,106,869 Fruits (Including canned, dried and preserved) and nuts, value _______ $ 14,338,864 17,588,432 15,274,158 7.712,890 7,139,221 Furs and fur sklns, value----------$ 8,002,282 Glass and glassware, value _________ $ 2,505,417 2,604,717 2,433,904 Glucose or grape sugar, value. __ - - _ $ 2,540,640 3,017,527 3,489,192 5,762,709 Grease, scraps and soap stock, value.$ 5,473,623 4,138,333 .-----$ ______ Gunpowder, &c., value 3,705,517 4,082,402 3,568,038 Hair and manufactures, value _____ -$ 1,165,475 938,433 854,038 Hay, value __________ - _ - _ - ___ - - - . $ 1,463,010 976,287 1,116,307 2,963,107 3,531,972 3,125,843 Hops, value---------------------$ 2,612,587 4,359,957 4,365,981 •Horses, value-------------------$ 1,563,225 Hides and skins, other than furs, val.$ 1,760,032 1,223,255 7,573,570 India rubber, &c. , manufac., value-$ 7,428,714 6,543,735 Instruments, scientific, value ______ $ 11,578,010 13,661,455 10,887,774 Iron and steel, and manufactures of, not Including ore, total value ____ $ 183,982,182 181,530,871160,984,985 1,763,470 2,060,144 1,496,686 Jewelry, gold and silver ___________ $ 1,954,091 1,875,869 1,827,216 Lamps, chandeliers, &c., value----$ Lard ________ ___________ ______ lbs. 603,413,770 627,559,660 741,516,886 do value ________ -- -----------$ 54,789,748 57,497,980 60,132,09 Leather and manufactures of, value_$ 40,688,619 45,476,969 40,642,858 1,116,776 1,215,340 1,020,172 Malt liquors, value---------------$ 1,466,561 1,433,123 1,248,996 Marble and stone and manuf., value_$ 5,059,601 5,834,850 6,475,713 Medicines, patent or prop., val ue ___ $ 1,889,690 2,191,111 2,455,186 Milk, value----------------------$ 1 Jfi~;lif1cf::r:c~~·!!~~t==J 1,670,881 16,234,918 624,509 Oats, value----------------------$ 948,088 1,122,162 705,853 Oatmeal, value------------------$ Oil cake and meal, value __________ $ 21,866,761 26,415,627 23,991,564 1,172,206 1,083,929 1,450,120 Oil, corn. value __________________ $ Oil, cotton-s~ed -· - __________ gallons 41,019,991 41,880,304 43,793,519 value -- -----------$ 17,226,451 17,074,403 13,673,370 do Oil, lllumlnatlng ____________ gallons 10417 25901 894,529,432 864,361,210 value------------$ 70,809,415 56,249,991 54,181,617 do do Oil, lubrlc ., a nd heavy paraff!ne-gals. 159,763,900 136,140,226 146,110,702 value -- -------------$ 20,370,613 17,179,562 17,974,721 do Oil, mineral, crude, including all natural olls ___________________ gallons 135,223,575 128,175,737 139,688,615 7.016,131 6,626,896 6,465,114 value--------------$ do do 2,613,677 2,735,598 4,003,827 Oil, naphtha, value _______________ $ Oleomargarine (Including oleo) ___ lbs. 215,479,332 200,734,785 221,452,249 value -- _________ $ 19,578,222 17,340,339 18,489,232 do 3,773,064 3,931,899 4,001,824 Paints, pigments and colors, value--$ 9,536,065 9,856,73~ 8,064,706 Paper and manufactures of, value -- $ Paraf!lne and parafflne wax _____ lb~ . 178,709,678 185,511,773 178,385,368 8,808,245 9,030,992 8,740,929 value _______ $ do do 1,215,857 287,460 532,442 Pork, canned, value--------------$ Pork, fresh and salted----- ---- -lbs. 165,880,405 177,895,188 155,265,158 do value - - - - - - - - - - - - - - - - -- - - -$ 14,884,104 16,310,944 12,943,046 1,397,004 1,086,618 881,792 Poultry and game, value---- ---- --$ 2,255,181 2,063,668 2,467,471 Oil, residuum, value ______________ $ 2,469,609 2,597,588 2,740,871 Rosin, pitch, tar, &C------ ---- bbls. 9,998,317 value--- --- ---$ 11,495,448 11,444,869 do do 905,350 562,016 2,184,335 Rye, value ______________________ $ 8,912,662 8,683,688 ll,0fl4,609 Seed, all kinds, value------- -- ----$ 2,781,179 3,806,007 3,407,220 Soap.value----------------------$ 1,525,225 1,827,757 1,816,287 Spirits, distilled, value ____________ $ Spirits of turpentlne _________ gallons 19,532,583 15,854,676 15,981,253 10,077,268 10,241,883 value----------$ 10,146,151 do do 1,490,797 1,126,465 1,142,054 Starch, value--------------------$ 3,783,971 3,179,619 3,361,611 Sugar and molasses, value _________ $ '!·allow - - - - - - - - - - - - - - - -- - - -- - - _lbs. 91,397,507 127,857,739 97,567,156 4,791,025 7,182,688 5,399,219 do value -- ---------------- --$ 1,069,146 1,181,534 1,011,733 Tin, manufactures of, value-- ------ $ Tobacco (leaf) __________ _______ lbs. 323,033,034 331,548,309 302,333,075 value ____ -- -----$ 34,342,293 33,193,881 28,602,452 do 5,410,480 5,735,613 4,736,522 Tobacco manufactures, value------$ 3,567,127 4,007,833 3,895,294 Vegetables, Including canned, value.$ Wheat ______________________ bush. 100,371,057 76,569,423 34,973,291 do value -- ------------------$ 90,736,767 60,214,388 28,757,517 Wood and manufactures or, value--$ 81,521,305 83,349,575 69,080,394 2,148,613 2,287,926 2,261,919 Wool and manufactures of, value ___ $ 2,780,199 2,143,574 1,606,032 Zinc and manufactures of, value ____ $ tm:m tm:m tm:m •Also Included under animals, other. TRADE AND COMMERCE. IMPORTS OF LEADING ARTICLES YEARS ENDING JUNE 30. The following table, made up from the latest revised returns, shows the imports of leading articles (both quantities and values) in the last three fiscal years. It embraces all items the imports of which exceeded $1,000,000 in value in any one of the years included in the statement. Articles. 1907•08. 1906·07 . 1905·06. - - - - - - - - - - - - - - - -1-- · · - - - -..---1----- Antimony, value.-·•-···-·-·-·---$ Argal, or argoL- · ··---·--·-····lbs. do do -···-·-·~···-···-··$ Automobiles and parts of, value .••• $ Bones.horns, &c.,andmfs.of,value.$ Books, maps, etchings, &c., value •• $ Brass, fit only for remanuf., value._$ Breadstuffs, all kinds, value •• _. __ .$ Bristles, value_. _________________ $ Brushes, value _____ • _____________ $ Cattle, value ___ . _____ -· __ -- - - - - -$ Cement, Roman, Portland, &c •• -lbs. do value.----·--------·-----$ Cheese, value----·-·-----·-·-·---$ Chemicals, drugs, dyes and medicines (Including those given here sep• a.rately) , value_ .. - - - _. - . - - - - - . - $ Cigars, cigarettes, &c. -- _ - -· - -- .lbs. do do value--·------·----$ Clays, or earth, value •. -·-----·---$ Coal, bituminous __ . - • _ - _ •. - - .. tons do do value·-··------·--·$ Coal tar, colors and d yes, value ____ $ Cocoa, or cacao, crude, value ____ __ $ Coffee,value_. ___ ._. ___ ·---· ·----$ Copper and manufactures of, value_$ Copper ore and regulus, value_ .. ___ $ Cork and manufactures of, value. __ $ Cotton, raw, value-----·-·-·-·---$ Cotton, manufactures ofBleached and unbleached, dyed, colored, stained or painted, square yards __ - . - - - • -- - • - - -- do do value-- --· -·- ··$ Hosiery, shirts, drawers, &c., val_$ Other manufactures of, value._._$ Cutlery, value __ •• _. - _ -- -- - . -· - •• $ Earthen, stone and chlnaware, val_$ Feathers and down, crude, value .• _$ Feathers & flowers, nat.& artlf.,vaL$ Fertilizers, value _____________ - - . -$ Fish, value __________ • __ - - -- - • -- _$ Flax, hemp, jute, &c., raw, value.-$ do do manuf's of, value ___ $ Fruits and nuts, value·-------·---$ Furs and fur skins, value----·-----$ Glass and glassware, value_._. _____ $ Glycerine, value ___________ - -- •• -$ Gloves, kid and leather, value--·-·-$ Grease and oils, value _______ ._. ___ $ Gums, va.1ue ___ . -----· __ -- _. -- _. _$ Glue stock, value_. _____ - ------ -- _$ Ha.Ir, unmanufactured , value. ___ ._$ Hats, bonnets, &c., and material for, value ----------·---------·---$ Hides and skins, value •• --·-·---·-$ Hops, value---·-·---·- -··-- ----·$ Household and personal effects, &c., free of duty, value ___ •. ___ ._. ___ $ Horses, cattle, sheep, &c., value._.$ India rubber and gutta percha.- .lbs. do do value--"-·-----·-·-$ do do manuf's of, value_._$ Indigo, value._ . _._· --_ . - - . - - . _. -$ Iron and steel, and manufactures of- Pl~jronvalue·-:::::::::::::::~~: Ingoj~• b '. o~~e.~~= = ::: ~ === == ====$ Total value_a·- ·-·---·- - -···-·-$ Ivory, animal and vegetable, value.$ J"ewelry and manufactures of gold and silver, value ___ ·-- ___ • -- _____ . _$ Lead, and manufactures of, value __ $ Leather, value •. ___ -- __ . _ ·- - - ____ $ Leather manuf .other than gloves, val $ Licorice root, value _______ ._·- ____ $ Lumber, value •. _____ . ___ • ___ . ___ $ Machinery, value ___ - -- _. -- -- - __ - _$ Malt liquors, value. - _. ____ -- -· ___ $ Manganese ore and oxide, value._._$ Marble and stone, and ma.nut. of, vaL $ Matting, Including Chinese, value_._$ Metal, metal compositions, and manu• facturesof, value ___ • ___ . _______ $ Musical Instruments, value _______ .$ Oil cloth, value·-------·---------$ Nickel ore and matte, value.-.-----$ Oils, animal and vegetable, value ___ $ Opium, Including prepared, value __ $ Paints and colors, value _____ . _____ $ Paintings, statuary, &c., value ____ $ Paper and manufactures of, value·-$ Paper stock-Rags ______ • ______ lbs. do value ___________________ $ All other, value----·---·-·-·---$ Perfumeries and toilet preps .• value_$ Pipes and smokers' articles, value __ $ Plants, trees, shrubs, &c., value ___ $ Platinum, value __________________ $ Plumbago, value _______________ ._$ Potash ______________ ._. _____ . lbs. do value--------------------$ Precious stones, cut and uncut, un• set, value _____________________ $ Provisions, all kinds, value_ -- _ - _ - -$ Rice and rice meaL __________ -- _lbs. do do value _____________ $ Sausage casings, value ____________ $ Seeds, value-----·---------------$ Shells and manufactures of, value--$ Silk, raw. _____________________ lbs. do value------·-------------$ Silk, manufactures or, value _______ $ Soda,nltrateoL _____________ ._tons do do value ______________ $ Spices, all kinds, value ____________ $ Spirits, dlstUled (Including product of United States returned), value ___ $ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 672,934 1,915,362 795,398 26,738,834 30,540,893 28,140,835 2,305,185 2,562,384 2,358,061 2,991,039 4,842,279 4,245,019 982,073 1,137,328 1,275,091 6,036,693 6,451,309 5,599,948 427,496 1,850,519 1,763,280 7,138,214 5,892,968 4,513,667 2,097,777 3,261,877 2,695,746 1,681,640 1,586,556 1,357,114 1,507,310 565,122 548,430 573,437,777 1123763 604 392,963,827 1,973,472 3 ,669,92 6 1,302,239 5,586,706 5,704,012 4,303,830 73,237,033 758,068 4,245,451 1,680,100 1,981,467 5,123,862 4,883,675 14,257,250 67,688,106 24,462,663 7,057,080 4,249,006 14,172 ,24 1 82,997,914 74,452,664 775,078 809,580 3,995,564 4,031,264 1,846,289 1,483,278 1,689 ,8 69 1,820,687 4,184,541 4,367,750 5,635,001 5,755,596 13 ,376 ,562 8,697 ,515 78 ,231 ,902 73,256,134 39 ,428,687 25,835,502 8,296,328 6,727,861 4,063,982 3,313,306 19,930,988 10,879,592 79,485,524 12,424,860 9,035,574 46,922,347 2 ,018,143 13,427,969 4,360,721 6,395,233 4,965,316 12 ,292, 770 35,496,313 54,467,572 37,354,742 15,918,149 6,570,123 2,470,178 7,826,719 1,103,081 12,535,521 1,265,382 2,770,658 82,640,331 13,008,067 8,671,848 52,024,721 2,263,107 13,706,790 4,401,731 5 ,104,384 5,341,430 12,335,988 42,239,358 65,108,785 35,867,160 21,884,034 7,596,631 2,459,458 10,633,668 1,355,739 14 ,974,156 1,473,188 3,038,996 74,657,229 11,936,591 7,218,897 43,887,834 1,892,278 12,877,528 2,970,260 4,018,352 4,446,360 11,607,602 39,360,290 49,693,042 28,915,747 21,855,682 7,507,823 2,302,183 6,812,719 1,295,855 11,900 ,724 1,160 , 683 3,704,987 6 ,820,259 4,571,184 4,852,548 54,770,136 83,206,545 83,882,167 1,974,900 2,326,982 1,989,261 4,446,187 4,777,459 62,421,770 36,713,490 2,050,135 1,058,354 3,835,354 3,941,875 4,344,282 3,914,422 77,510,728 58,345,115 59,121,320 45,302,611 2,453,847 2,200,585 1,233,541 1,044,148 204,092 564,846 271,790 7,778,884 6,201,808 15,654,767 36,958,859 41,484,776 44,001,417 3 ,033,928 2,172,916 2,672,668 27,607,909 40,587,865 29,053,987 1,524,155 2,470,405 1,995,544 1,779,527 1,672,275 1,739,953 4,364,890 4,472,777 4,302,307 8,071,285 4,852,409 6,670,848 1,448,200 1,688,580 1,657,339 1,140,541 1,864,436 1,661,454 20,257,458 20,959,365 19,366,850 4,963,429 3,646,480 3,655,402 3,464,671 3,408,763 2,738,855 1,672,654 1,773,018 1,785,662 1,585,171 1,946,262 1,636,788 3,769,202 4,333,044 3,831,436 6,768,637 1,400,213 2,102,313 2,391,140 18,292,393 2,487,910 1,738,257 4,310,767 12,223,058 113,596,603 1,715,942 1,959,984 1,120,796 1,032,285 2,003,973 1,644,644 1,207,216 359,774,442 6,495,550 10,325,446 8,032,549 1,498,724 1,277,435 2,313,772 1,744 , 539 1,897,784 1,673,879 17,068 ,777 13,723,948 3,068,126 2,440,222 2,013,481 1,696,808 5,867,265 4,908,782 10,727,885 6,998,761 159,861,027 140,207,383 2,335,590 2,118,762 3,244,938 2,255,702 1,250,855 1,054 ,426 1,126,635 809,950 1,841,206 1,599,052 3,266,961 2,678,546 1,626,666 1,291,166 334,849,340 302 ,354,117 6,289,342 5,579,249 16,716,052 6,586,780 212,803,392 4,798,553 2,182,036 6,371,470 1,280,477 15,424,041 63,665,534 32,717,668 330,090 12,546,611 3,591,537 42,468,022 6,768,432 209,603,190 4,392,146 1,288,922 6,404,776 1,629,387 16,722,207 70,229,518 38,653,251 342,073 14,041,202 5,113,000 40,380,762 5,117,054 166,547,957 3,082,203 874,293 5,388,043 1 ,368,156 14,505,324 52,855,611 32,910,590 373,986 13,117,887 5,188,116 6,560,606 6,886,691 5,524,767 59 Articles. 1907·08. 1906-07. 1905•06. Sugar, not above No. 16--·-·---lbs. do value.--------- ·---·---· ·$ do above No. 16, value ____ . __ $ Sulphur , crude, value_. ___________ $ Sulphurore, value·--------··---·-$ Tea ·-----···-·---··--·-------lbs. do value--------·----·----·-$ Tin, blocksorplgs._. _______ ____ lbs. do value--·--·----------·---$ Tin plates.------------·------.lbs. do value·---·-·-------------$ Tobacco, leaf ___ _______________ lbs. do value ____________________ $ Toys, value--------·-------·-----$ Vanilla beans, value. _____________ $ Vegetables, all kinds, value. _______ $ Watches and movements, value .• _$ Wine In casks·---·---·---··gallons do value·--··--------·-----·$ Wine In bottles .. _. ____ __ qts., doz. do value------·---------·---$ Wood and manufactures of, value._$ Wool and woolen goodsWool,raw_b·--·---·---------lbs. do value _________________ .$ Clotbs, value----·-·---------·-$ Carpets __ . ___________ ___ sq. yds. do value •. --------·-·---··$ Dress goods. _________ • ___ sq . yds. do value·-·--·------··-··-$ Total wool manufactures, value_.$ 3365059323 79,911,348 346,799 430,840 2,687,626 94,149,564 16,309,870 77 ,739,059 25,295,061 140,739,972 4,291,953 32,056,043 22,870,328 7,206,423 1,170,135 8,289,068 2,451,009 5,443,782 3,008,996 995,087 7,737,531 43,527,174 4384255067 92,476,380 329,873 638,222 2,492,608 86,368,490 13,915,544 96,013,005 38,117,459 142,529,406 4,651,332 39,540,321 26,055,248 6,993,561 1,523,156 5,728,472 2,983,113 5,213,458 2,966,154 1,056,341 8,842,627 42,969,941 3970154648 85,098,903 361,185 1,597,563 1,954,517 93,621,750 - - - - - - - - - - - - - - - -1- -..---1------1----- 14,580,878 92,822,653 30,932,998 120,819,732 3,412,243 37,355,477 22,447,514 5,887,863 1,321,550 5,092,932 2,565,343 4,482,499 2,567,712 962,082 8,426,256 36,532,706 125,980,524 203,847,545 201,688,668 23 , 664,938 41,534,028 39,068,372 4,859,796 5,732,200 5,157,420 686,784 1,068,010 1,182,005 2,795,066 4,435,067 4,643,520 45,035,142 46,924,917 52 830,942 9,217,804 9,240,225 10,049,686 19,387,978 22,321,460 23,080,683 a Including machinery. but not Including Iron ore; also Including the values already stated separately. b Includes hair of the camel, goat, alpaca, &c. c Included under "all other manufactures of Iron and steel" prior to July 1 1905. COURSE OF MERCHANDISE PRICES. To furnish an indication of the course of merchandise values, we give the following tal;)le. It shows the prices of leading articles of merchandise in New York about the first of January in 1860, which was before the war excitement had begun to affect the markets; on Jan. 1 1879, when gold payments were resumed; and for the past five years-1905 to 1909, inclusive. COMPARATIVE PRICES OF MERCHANDISE IN NEW YORK. January 2- 1860. BreadstuffsaFlour-No. 2, ext.bbls. Patents . . ...••.. bbs. Rye, superftne ••• bbls. Cornmeal.Br'ywtne .bbls. bWhea.t-Wh1te,No.1.bu. Red winter, No 2.bu. $ c. 4 7 4 3 1 1 30 50 00 90 50 30 1879. $ c. 1905. $ c. 1906. $ c. 1907. $ c. 1908. $ c. 1909. s c. 3 90 4 10 3 20 3 00 4 15 4% 7 75 6 20 5 45 4 65 6 10 6 00 3 10 5 00 4 40 4 00 5 40 4 50 2 85 3 10 3 05 2 75 3 65 3 45 111 Nom'l Nom'l Nom'l Nom'l 1 18 108¾ 1 23 95¾ 80 1 08¼ 1 08 98 89 119¾ 81½ 120½ 120¾ R;:.e~~~t~~;•.~~~~=~~: --92 60 90 76 75 90 81½ Oats, No. 2, white ••. bu. 46½ Nom'l 33 37 40½ 56·57½ a5 CornWest. mixed, No.2.bu. 90 47 56 51 52½ 76 68 cCottonMlddllng Upland .•••• lb, 11 9 7•16 7.10 11.75 10.75 11.40 9.30 Low Mlddllng Upland.lb. 111/s 9 1-16 6.57 11.37 10.25 10.4( 8.30 Cotton goods-Brown sheetlngs •.••. yd . 8 8¾ 6¾ 1½ 7 1/s 1¼-7½6¾·6¼ Print cloths, 64x64 •• _yd. 5¾ 3 1/s 2¾ 3¾ 3½ 4¾ 3 5-16 FishDry cod (Georges) ••. qtl. 4 50 4 25 8 00 9 00 8 75 6.25·75 No.l(Mass.)mackerelbbl. •... 16 00 Nom'l 24 00 Nom'l Nom'l Hay-Shlpplng .••• 100 lbf 1 00 45 82½ 80 85 80 62½·65 6½ 10½ 9~4 10 8¾ 81/s 16 15 34 19 21 15½ 12½ IronNom'l Nom'l 25 00 Scotchplg ·-······-·ton24 50 22 00 Nom'l Nom'I American pig, No. L.ton .... 17 00 17 75 19 50 25 25 18 50 17 50 Lead-Domestlc_ •• 100 lbs. ..•• 4 00 4 70 6 05 6 20 3 70 4 17½ LeatherHemlock sole, light ••. lb 30 24 19½ 21½ 28 25 'Z7 Lime-Com. Rockland.bbl. 75 80 87 92 ..26½ Molasses-N. Orleans .. gall. 53 37 35 38 32½ 30 Naval StoresSpirits turpentine ••. gall. 44½ 27½ 53 68 71 43½ 41½ Common rosln .•...• bbl. 1 65 1 35 2 82½ 3 65 4 25 3 20 3 25 OllsCrude whale ...•.... gall. 52 38 Nom'l Nom'l Nom'l Nom'l Nom'l Crude sperm .•..... gall. 1 40 81 Nom'l Nom'l Nom'l Nom'l Nom'l Linseed, Calcutta ... gall. 57 63 43 62 70 69 70 PetroleumRefined In bbls ..•.. gall .•••. 7.65 8¼ 7.60 7½ 8¾ 8½ ProvisionsPork, mess ..•..... . bbl.16 37½ 7 05 13 00 14 75 18 00 15 00 16 75 Beef, plain Western.bbl. 9 50 10 00 · 9 00 Nom'l 8 25 10 50 12 75 Beefhams ..• .•...•. bbl.14 50 17 00 23 00 22 00 Nom'l Nom'l 26 Hams, pickled ••••••• lb. 9¼ 6 9 9¾ 12¼ 9 9 Lard, Western ... ••.. lb. 10½ 5.75 7.07½ 7.50 9.47½ 8¼1 9.90 Butter, prime State ... lb. 24 23 28 26 28 29½ 33 Cheese, fine tactory .•• lb. 11 8¾ 12 14 14 15¾ 14 Rice-Domestic ..•..••. lb. 4¼ 6¼ 3½ 4½ 4½ 5¼ 5½ SaltLiverpool ground •.. sack 1 15 70 90 90 •... Nom'l Nom'l Domestic ftne.280·lb.sack ···•••• 90 90 •••• 99 1.65 SugarCuba, fair reftnlng.- •. lb. 7¾ 6¾ 4 13·32 3¾ 3 9·H 3.8) 3.67 Reftned hards . •.•••.. lb .••.. 8¾ 4½ 4½ 5.15 4.~ 4.50 6¾ 4¾ Tallow ··-········· ··· lb. 10½ 4¾ 6½ 5~ 5.78 Wool-XX Ohio fleece .. lb. 40 35 33 38 34½ 35 Nom'I :~:r.;-~~~te=:::: :}t .. aFLOUR-"No. 2 Extra tn bbls." ls now the common shipping flour to Great Britain, and Is about the same as the "Wheat Flour, State," quoted In 1860 y:~.hlghest grades and correspond wttb 0 ';:~1r:~;:~: Jt~f60~~gi::; ~e b WHEAT-"WhUe No. 1" probably corresponds as nearly as any present grade Winter No. 2" would probably ~: :~~l~.i:ewes~~!~0~1~1:~f:!!?:C-;~•::~ lls~hir ~tJ;!s fn_a~;iu:i~~~oe%ia~ls• b~e:::!~~ ..cover same as quoted 1n old c COTTON-On Oct. 1 1874 grades or cotton as quoted were changed by the National Cotton Exchange. According to the new classification every grade was renduced, so that (for l~ustratlon) Middling, accord1ng to new c~ltl.catlon, was o that day quoted 1/sC. lower than Middling or the old classldcatton FOREIGN EXCHANGE RECORD, PRICES FOR 1908. In the tables which follow we furnish a record of the fluctuations in the rates of exchange at New York on London for each day of the past year. The tables have been compiled so as to show the actual rates at which bankers' bills were quoted. Business in exchange is now done at such a narrow margin of profit, the fluctuations being often measured by small decimals, that "posted" rates no longer afford a close guide to the course of the market. A record of these posted rates, however, for 1908 can be found in the "Chronicle" of Jan. 2, 1909, page 35. The methods of quoting sterling exchange have varied widely in the past, but by the law of Congress of March 3 1873, the Custom House valuation of the pound sterling was placed at its true value of $4 8665, and from January 1 1874 sterling exchange has been quoted accordingly, the quotation when at par being $4 8665. The London Stock Exchange early in the year 1874 also made a change in its method of quoting, but valued the dollar a-t 4s., or about 97 1-3 cents. This valuation, being 2 2-3 cents below par, is equal to a quotable premium of about 2¾%, and accordingly the present London quotations of American securities are about 2¾% above their actual value-a bond worth 100 here being quoted there at 102¾. ACTUAL RATES OF STERLING EXCHANGE DURING 1908. Day. JANUAR.Y. Sixty-day Sight Bills. Bills. IL------------ HOLIDAY 2 __ -4 7975-80 4 8470-8475 3 __ -4 80½-80 ¾ 4 8520-8530 4 __ -4 8035-8040 8530-8540 5 _____ ______ ___ 4SUNDAY Cable Transfers. _____ ____ _ 4 8575-86 4 8605-8615 4 8630-8635_ __________ 6 __ _4 8075-81 4 8560-8565 4 8635-8640 7 __ _4 81 -8125 4 8550-8560 4 8585-8610 3 __ -4 81 -8125 4 8560-8570 4 86 -8610 9 __-4 8125-8150 4 8540-8550 4 8610-8615 10 __ _4 8140-8150 4 8550-8560 4 86 -8610 11 _4 8115-8120 4 8550-8560 4 8605-8610 12 __ ______________ SUNDAY ___ _______ _ 13 __ _4 8130-8135 4 8550-8555 4 86 -8605 14 __ _4 8125-8130 4 8540-8545 4 8590-86 15 __ _4 8145-8155 4 8565-8570 4 8625-8630 16 __ _4 8175-82 4 8575-86 4 8640-8650 17 __ _4 8250-8260 4 8640-8650 4 87 -8710 18 __ _4 8275-83 4 8670-8680 4 8725-8730 19 ______________ SUNDAY __________ 20 __ _4 8310-8315 4 8685-8690 4 8745-8750 2L _ -4 8320-8325 4 8680-8685 4 8730-8735 22 __ -4 8325-8335 4 8695-8710 4 8745-8755 23 __ -4 8340-8355 4 8690-8715 4 8750-8760 24 __ _4 8390-84 4 8710-8720 4 8755-8765 25 __ _4 8365-8375 4 87 -8710 4 8755-8760 26 _____ _______ - _ SUNDAY _ - - - - -- -- - 27 __ _4 8380-8385 4 8720-8725 4 8755-8760 28 __ _4 8375-8380 4 8710-8720 4 8750-8755 29 __ -4 8375-8380 4 8705-8710 4 8735-8740 30 __ _4 8380-8390 4 8715-8725 4 8750-8760 31_ _ _4 8390-84 4 8695-8705 4 8735-8745 Stxty-Day Bills . 4 8370-8375 4 8685-8690 4 8730-8735 ___________ SUNDAY __________ _ 4 8360-8365 4 8660-8665 4 8695-8705 4 8350-8360 4 .8655-8660 4 8690-87 4 8340-8345 4 8645-8650 4 8675-8680 4 8325-8335 4 8650-8655 4 8675-8685 4 8315-8325 4 8650-8655 4 8675-8680 4 83 -8310 4 8635-8640 4 8665-8670 ___________ SUNDAY __ --------4 8285-8290 4 8630-8635 4 8650-8655 4 8280-8285 4 8610-8620 4 8645-8650 ___________ HOLIDAY ______ - - -- 4 8250-8275 4 8585-86 4 8615-8625 4 8250-8260 4 8580-8590 4 86] 5-8625 4 8230-8240 4 8585-8595 4 8615-8625 ________ --- SUNDAY ____ - - -- - __ 4 8275-83 4 8615-8635 4 8650-8675 4 8340-8345 4 8680-8690 4 8730-8735 4 8350-8355 4 8670-8675 4 8720-8725 4 8345-8350 4 8660-8670 4 8695-8715 4___________ 8340-8350 4HOLIDAY 8665-8675 __________ 4 8705-8715_ _____ - --- -- SUNDAY __ - -- -- - - -4 8350-8355 4 8685-8690 4 8720-8725 4 8350-8360 4 8680-8685 4 8720-8725 4 8340-8350 4 8670-8675 4 8710-8715 4 8350- 360 4 8675-8680 4 8710-8720 4 8360-8370 4 8660-8670 4(8710-8720 4 8350-8360 4 670-8675 4 8720-8725 Range- High 4 8390-84 Low 4 7975-80 Day. Stxty-Day BUls. Crible Transfers. L _ _4 8450-8460 4 8690-8695 4 8725-8730 2 __ -4 8435-8450 4 8690-87 4 8715-8725 3 ______________ SUNDAY __ - __ - -- -- _ 4_ - _418440-8445 4 8685-8690 4 8715-8720 5 __ _4 8445-8450 4 8690-8695 4 8720-8725 6 __ _4 8440-8445 4 8695-87 4 8720-8725 7 __ _4 8460-8465 4 87 -8705 4 87 50-8760 8 __ _4 8480-8490 4 8710- 720 4 8750-8760 9 __ _4 8490-85 4 8720-8725 4 8770-8775 10 ______________ SUNDAY __________ _ 11 __ _4 8505-8510 4 8725-8730 4 8765-8770 12 __ _4 8510-8520 4 8730-8735 4 8755-8765 13 __ _4 8515-8525 4 8715-8725 4(8750-8755 14 __ _4 8510-8520 4 8710-8720 4!8735-8745 15 __ _4 8515-8525 4 8705-8715 4 8730-8740 16 __ _4 8510-8515 4 8705-8710 4 8730-8735 17 ___________ ___ SUNDAY __________ _ rn::::imtim : mtim : mtmi 20 __ -418530-8535 4 8720-8725 4 8750-8755 2L. -4 8525-8535 4 8715-8725 4 8740-8750 22 •• .418525-8535 4 8710-8720 4 8735-8740 23 •• -4 8525-8535 4 8710-8715 4 8735-8745 24 ______________ SUNDAY __ ---- - - - -25 __ _4 8520-8525 4 8710-8715 4 8735-8740 26 __ _4 8525-8535 4 8710-8720 4 8730-8735 27 __ _4 8540-8550 4 8715-8720 4 8745-8750 28 •• -4 8550-8560 4 8715-8720 4 8740-8745 29 __ _4 8555-8565 4 8715-8720 4 8740-8750 30 ______________ HOLIDAY __________ _ 31--- ___________ SUNDAY _____ - __ --- Stxly-Day Bills. Sight Bills. Cable Transfers. 4 8560- 565 4 8715-8720 4 8740-8745 4 8545- 555 4 8695-87 4 8725-8730 4 8540-8550 4 8710-8715 4 8730-8735 418550-8560 4 8695-8705 4 8720-8730 4 8540-8550 4 8690-8695 4 8710-8720 4 _8545-8555 4 8690-87 4 8720-8730 ___________ SUNDAY __________ _ 4 8535-8545 4 8690-8695 4 8710-8725 4 8540-8545 4 8685-8690 4 8710-8720 4 8525-8540 4 8670-8680 4 8695-8710 4 8525-8550 4 8680-8690 4 8705-8715 4 8530-8540 4 8680-8685 4 8705-8710 4 8530-8545 4 8680-8690 4 8705-8710 ___________ SUNDAY ·--- ---- - -4 8520-8525 4 8690-87 4 8715-8725 4 8530-8540 4 8705-8710 4 8730-8735 4 8545-8555 4 8705-8710 4 8725-8735 4 8550-8565 4 8710-8715 4 8735-8740 4 8710-8725 4 8550-8560 4 8695-87 4 8540-8550 4 8685-8695 4 87 -8710 -- - - ---- - - - SUNDAY __________ _ 4 8535-8545 4 8695-87 4 8710-8715 4 8555-8565 4 8690-8695 4 8705-8710 4 8545-8555 4 8690-8695 4 8705-8710 4 8565-8575 4 8695-8705 4 8720-8730 4 8570-8575 4 8695-87 4 8720-8730 4 8560-8570 4 8695-87 4 8720-8730_ ___________ SUNDAY __________ 4 8560-8575 4 8685-8695 4 8715-8725 4 8560-8575 4 8690-8695 4 8715-8720 Range- OCTOBER. Cable Transfers. Stxty-day Bills. Sight Bills. Cril>le . Transfers. ----------- SUNDAY ___ _______ _ 4 8370-8375 4 8665-8670 4 87 -8705 4 8360-8365 4 8675-8680 4 87 -8710 4 8360-8370 4 8665-8670 4 8695-87 4 8370-8385 4 8650-8660 4 8675-8685 4 8355-8365 4 8635-8640 4 8660-8670 4 8345-8350 4 8635-8640 4 8660 8670 ___________ SUNDAY ___ _______ _ 4 8335-8340 4 8610-8620 4 8645-8650 4 8345-8350 4 8625-8630 4 8650-8655 4 8340-8345 4 8620-8625 4 8645-8650 4 8335-8340 4 86 -8605 4 8625-8635 4 8320-8330 4 8580-8590 4 86 -8610 4 8315-8320 4 8590-8595 4 8615-8620 ----------- SUNDAY ___ _______ _ 4 8320-8325 4 8595-86 4 8625-8630 4 8305-8310 4 8580-8585 4 8605-8610 4 8330-8335 4 8605-8610 4 8630-8635 4 8315-8325 4 8595-86 4 8625-8630 4 8340-8350 4 8590-86 4 8620-8630 4 8340-8345 4 86 -8615 4 8630-8640 _ __________ SUNDAY _________ _ 4 8345-8350 4 86 -8605 4 8630-8635 4 8345-8350 4 8595-86 4 8620-8625 4 8350-8355 4 86 -8605 4 8630-8635 4 8340-8350 4 8595-86 4 8625-8630 4 8370-8380 4 8615-8620 4 8640-8650 4___________ 8385-8390 4SUNDAY 8630-8640 __________ 4 8655-8665_ 4 84 -8405 4 8640-8645 4 8670-8675 4 8415-8425 4 8640-8650 4 8670-8675 4 8415-8425 4 8675-8680 4 87 4' 305-8310 4 8 580-851'5 4 86 Stxty-Day Bills. JULY, Sight Bills. 4 8550-8560 4 8690- 695 4 8560-8575 4 8685-8695 4___________ 8575-8585 4HOLIDAY 8690-87 ___________ SUNDAY 4 8555-8565 4 8685-8695 4 570-8575 4 8695- 705 4 8555-8565 4 8690-87 4 8565-8575 4 8690- 695 4 8570-8580 4 8695-87 4 8570-8575 4 8695-8705 __ - - ____ __ _ SUNDAY 4 8565-8570 4 8705-8710 4 8565-8570 4 8710-8715 -8710 -8410 Cable Transfers. 4 8715-8720 4 8710-8715 4 8710-8720_ __________ __________ _ 4 8710-8715 4 8715-8720 4 8710-8715 4 8710-8720 4 8715-8720 4 8715-8725 __________ _ 418725-8730 4¼8730-8735 Cable Transfers. APR.IL. Sight Cable Btlls. Transfers. Day . 4 8425-8430 4 8650-8655 4 8670-8680 ___ 1 4 8425-8435 4 8645-8655 4 8675-8680 ___ 2 4 8430-8440 4 8645-8650 4 8670-8680 ___ 3 4 8425-8430 4 8646-8650 4 8675-8680 ___ ~ _ ____ ____ __ SUNDAY ______________ 5 4 8415-8420 4 8645-8650 4 8670-8675 ••• 6 4 8410-8415 4 8650-8655 4 8675-8680 ___ 7 4 8415-8420 4 8655-8660 4 8680-8685. __ 8 4 8425-8435 4 8665-8670 4 8685-8690 ___ 9 4 8440-8450 4 8665-8670 4 8690-8695 •• -10 4 8435-8445 4 8680-8685 4 87 -8105 ___ 11 _ __________ SUNDAY --------------12 4 8445-8450 4 8690-8695 4 8715-8720 ___ 13 4 8450-8455 4 87 -8705 4 8725-8730 ••• 14 4 8465-8470 4 8720-8725 4 8750-8755 ___ 15 4 8470-8480 4 7820-8725 4 8760-8765 ___ 16 4 8475-8485 4 8715-8725 4 8750-8760 ••• 17 4 8475-8485 4 8710-8715 4 8750-8755---18 ----------- SUNDAY --------- -----19 4 8480-8485 4 8720-8725 4 8760-8775 ___ 20 4 85 -8505 4 8735-8740 4 8775-8785---21 4 8485-8490 4 8730-8735 4 8765-8770_._22 4 8475-8485 4 8715-8725 4 8750-8765 ___ 23 4 8485-8495 4 8725-8730 4 8755-8765--.24 4 8480-8485 4 8730-8735 4 8760-8765-- _25 ___________ SUNDAY --------------26 4 8470-8475 4 8725-8730 4 8765-8770---27 4 8470-8475 4 8715-8720 4 8750-8755---28 4 8450-8455 4 87 -8705 4 8735-8740---29 4 8460-8470 4 87 -8705 4 8730-8740---30 Range- 4 85 -8505 4 8735-8740 4 8775-8785 High 4 8410-8415 4 8645-8650 4 8670-8675 Low AUGUST. Stxty-Day Btlls. Stght Bills. Gahl~ Transfers. Day. 4 8525-8535 4 86 5-8690 4 8705-8715 ___ 1 ---- - ------ SUNDAY ______________ 2 4 8515-8525 4 8670-8675 4 8690-8695 ___ 3 4 85 -8515 4 8650-8665 4 8670-8680 ___ 4 4 8480-85 4 8640-8650 4 8660-8675 ___ 5 4 8490-8510 4 8645-8655 4 8665-8680 ___ 6 4 8515-8525 4 8650-8655 4 8670-8675 ___ 7 4 85 -8505 4 8645-8650 4 8660-8665 ___ 8 ----------- SUNDAY ______________ 9 4 8505-8510 4 8650-8655 4 8665-8670 ___ 10 4 8495-8505 4 8645-8650 4 8660-8665 ___ 11 4 8490-8510 4 8655-8660 4 8670-8675 ___ 12 4 8485-8495 4 8640-8650 4 8660-8670 ___ 13 4 85 -8510 4 8645-8650 4 8665-8675 ___ 14 4 85 -8510 4 8640-8650 4 8660-8670 ___ 15 ---- _-- ____ SUNDAY _ -------------16 4 8575-8585 4 87 -8705 4!8715-8725 4 8490-85 4 8650-8660 4 8655-8665 ___ 17 4 8575-85 5 4 8695-8705 4(8710-8715 4 8480-8490 4 8635-8645 4 8655-8665 ___ 18 _____ - _- _- _ SU DAY __________ _ 4 8485-8495 4 8635-8640 4 8645-8655 ___ 19 4 8565-8575 4 8695-87 4 8705-8710 4 8480-8490 4 8620-8630 4 8635-8645 ___ 20 4 560-8570 4 8695-87 4 8705-8710 4 8475-8485 4 8615-8620 4 8630-8640 ___ 21 4 8550-8560 4 8680-8685 4 8690-87 4 8465-8475 4 86 -8610 4 8615-8625 ___ 22 4 8540-8550 4 8665-8675 4 8680-8695 ----------- SUNDAY ______________ 23 4 8440-8460 4 8590-8595 4 8610-8615 ___ 24 4 8520-8530 4 8670-8675 4 8690-87 4 8525-8535 4 8675-8680 4 8695-8705 4 8410-8425 4 8570-8575 4 8585-8595 ___ 25 - - - - - - - - - - - SUNDAY __________ _ 4 8415-8430 4 8590-8595 4 8610-8615 ___ 26 4 520- 530 4 8685-8690 4 8705-8710 4 8430-8450 4 8585-8605 4 8615-8625 ___ 27 4 8520-8530 4 8685-8690 4 87 -8710 4 8440-8450 4 8585-8590 4 8605-8610 ___ 28 4 8530-8535 4 8695-87 4 8705-8710 4 8425-8430 4 8575-8585 4 86 -8605 ___ 29 4 8525-8530 4 8690-8695 4 8705-8715 ---------- - SUNDAY ___ ____ _______ 30 4 8530-8540 4 8685-8690 4 8705-8715 4 8425-8435 4 8570-8575 4 8595-86 ___ 31 :8m:mg :mtms !1ms=m8 4 8575-8585 4 8710-8715 4 8735-8740 4 8520-8530 4 8665-8675 4 8680-8695 Sixty-day Bills. NOVEMBER. Sight Cable Bills. Transfers. ___________ SUNDAY __ _____ __ _ _ 4 8375-8385 4 8605-8610 4 8625-8635 ___________ HOLIDAY __________ _ 4 8375-8385 4 86 -8605 4 8620-8625 4 8375-84 4 8585-8595 4 8610-8620 4 8375-8385 4 8575-8585 4 8605-8615 4 8355-8360 4 8560-8565 4 86 -8610 _____ ___ __ _ SU:t-tDAY __________ _ 4 8355-8365 4 8565-8570 4 8590-8595 4 8335-8345 4 8560-8565 4 8585-8590 4 8335-8340 4 8565-8570 4 8585-8590 4 8350-8375 4 8575-8585 4 8595-8610 4 8360-8370 4 8575-8580 4 8605-8610 4 8355-8360 4 8585-8590 4 8605-8610 ----------- SUNDAY __________ _ 4 8365-8370 4 8590-8595 4 8615-8620 4 837 5-8385 4 86 -8605 4 8625-8630 4 8375-8385 4 8595-86 4 8620-8625 4 84 -8410 4 86 -8610 4 8625-8635 4 84 -8410 4 8620-8630 4 8640-8650 4 8395-8405 4 8615-8625 4 8635-8645 - ------- --- SUNDAY __________ _ 4 84 -8410 4 8635-8645 4 8655-8665 4 8410-8415 4 8650-8660 4 8675-8685 4 8415-8425 4 8645-8655 4 8670- 680 -----------HOLIDAY·---------4 8440-8450 4 8655-8660 4 8680-8690 4 8425-8430 4 8660-8665 4 867 5-8680 ----- ------ SUNDAY ______ ___ _ _ 4 8440-8450 4 8665-8675 4 8695-8705 L. -4 8415-8425 4 8590-8595 4 8595-8605 2 __ -4 8410-8420 4 8595-86 4 86 -8610 3 __ -4 8450-8460 4 8590-8615 4 8615-8645 4 __ -4 8460-8465 4 8605-8615 4 8630-8640 5 __ -4 8450-8475 4 86 -8605 4 8625-8635 6 ______________ SUNDAY __________ _ 7 ______________ HOLIDAY _____ _____ _ 8 __ _4 8435-8455 4 8620-8625 4 8635- 650 9 __ -4 8460-8470 4 8635-8640 4 8655-8670 10 ___ 4 8480-8485 4 8650-8665 4 8680-87 lL.-4 8490-85 4 8640-8650 4 8675-8685 12 __ .4 8490-85 4SUNDAY 8645-8650 ___ 4 8670-8680 13 ______________ __ _____ _ 14 __ -4 8490-85 4 8650-8655 4 8670-8680 15 •• -4 85 -8515 4 8660-8665 4 8685-8690 16 •• -4 8510-8520 4 8670-8675 4 8705-8710 17 __ _4 8525-8535 4 8670-8680 4 87 -8710 18 •• -4 8510-8520 4 8650-8660 4 8675-8685 19 •• -4 8505-8515 8625-8630 __________ 4 8665-8675_ 20 ___________ ___ 4SUNDAY 21-.-4 8485-8490 4 8645-8650 4 8670-8675 22 •• -4 8510-8515 4 8655-8675 4 8675-8680 23 •• -4 8505-8510 4 8650-8660 4 8670-8675 24 •• -4 8485-85 4 8625-8650 4 8650-8665 25 __ _4 85 -8510 4 8635-8640 4 8660-8670 26 -4 8490-8505 8635-8645 _________ 4 8655-8665 27 •• _________ _____ 4SUNDAY __ 28 __ -4 85 -8505 4 8635-8640 4 8665-8670 29 __ _4 8490-85 4 8635-8640 4 8660-8670 30 __ _4 8485-8490 4 8625-8635 4 8660-8665 31 ___ ------- --- - -- - - - -- -- ----- - -- -- -- - 4 8490-8505 4 8625-8630 4 8650-8655 4 8490-8510 4 8615-8620 4 8640-8650 4 8475-8480 4 8610-8615 4 8630-8640 - ------ __ - _ SUNDAY __________ _ 4 8475-8485 4 8605-8610 4 8620-8630 4 8485-8490 4 8635-8640 4 8655-8660 4 8470-8480 4 8625-8630 4 8660-8670 4 85 -8510 4 8640-8660 4 8670-8685 4 8510-8535 4 8675-8685 4 87 -8710 4 8510-8515 4 8660-8670 4 8675-8685 ----------- SUNDAY __________ _ 4 85 -8510 4 8655-8665 4 8680-8685 4 8485-8495 4 8645-8650 4 8685-8690 4 8490-85 4 8655-8660 4 8680-8690 4 8490-85 4 8650-8660 4 8675-8685 4 85 -8505 4 8645-8650 4 8670-8680 4 8495-85 4 8650-8660 4 8675-8685 ___________ SUNDAY __________ _ 4 8475-8480 4 8645-8650 4 8675-8680 4 8495-85 4 8655-8660 4 8675-8680 4 8480-8485 4 8655-8660 4 8675-8680 4 8475-8485 4 8650-8655 4 8670-8675 4 8475-85 4 8655-8665 4 8675-8685 4___________ 8475-8485 4SUNDAY 8650-8660 __________ 4 8675-8685_ 4 8470-8475 4 8650-8655 4 8675-8680 4 8460-8470 4 8650-8655 4 8675-8680 4 8445-8455 4 8640-8645 4 8665-8670 4 8435-8445 4 8635-8640 4 8665- 670 4 8425-8450 4 8620-8630 4 8645-8655 4 84 -8405 4 8610-8615 4 8640-8645 Range. Range. R ange . High 4 8525-8535 4 8670-8680 4 8705-8710 Low 4 8410-8420 4 8590-8595 4 8595-8605 4 8510-8535 4 8675-8685 4 87 -8710 4 84 -8405 4 605-8610 4 8620- 630 4 8440-8450 4 8665- 675 4 8695-8705 4 335-8340 4 8560- 565 4 8585-8590 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Stxty-Day BUls. Range- 4 8570-8575 4 8715-8720 4 8740-8745 4 8520-8525 4 8670-86 0 4 8695-8710 SEPTEMBER. Stxty-day Bills. JUNE. Sight B ills. MARCH Sight Btlts. Range- 4 8360-8370 4 8680-8690 4 8730-8735 4 8230-8240 4 8580-8590 4 8615-8625 Range- Htgh 4 8555-8565 4 8730-8735 4 8770-8775 Low 4 8435-8445 4 8685-8690 4 8715-8720 Day. Sixty-Day Bills . Range- 4 8720-8725 4 8755-8765 4 8470-8475 4 8575-86 MAY. Stght BUls. FEBRUAR.Y, Stght Cable Btlls. Transfers. Range- 4 8525-8535 4 8685-8690 4 8705-8715 High 4 8410-8425 4 8570-8575 4 85 5-8595 Low DECEMBER.. Sixty-day Btlls. Sight Cable BUls. Transfers. Day. 4 8450-8460 4 8670-8680 4 87 -8710 ___ 1 4 8445-8455 4 8675-8680 4 8705-8710 ___ 2 4 8460-8470 4 8665-867 5 4 8695-8705 ___ 3 4 8440-8450 4 8640-8645 4 8665-867 5_ _ _ 4 4 8430-8435 4 8645-8650 4 8670-8675 ___ 5 ----------- SUNDAY ______________ 6 4 8430-8440 4 8645-8650 4 8675-8680 ___ 7 4 8440-8450 4 8660-8665 4 8690-8695 ___ 8 4 8450-8460 4 8685-8690 4 8715-8720 ___ 9 4 8470-8480 4 8685-8695 4 8720-8725 ___ 10 4 8480-8490 4 8690-8695 4 8725-8730 •• _ll 4 8475-8480 4 87 -8710 4 8730-8735 ___ 12 _ __________ SUNDAY ______________ 13 4 8505-8515 4 8710-8725 4 8745-8770 ___ 14 4 8475-8485 4 8665-8685 4 8715-8720 ___ 15 4 8470-8480 4 8660-8675 4 8705-8710 ___ 16 4 8475-8485 4 8685-87 4 8720- 730 ___ 17 4 8490- 5 4 8690-87 4 8720-8730 ___ 18 4 8490-85 4 87 -8705 4 8730-8735 ___ 19 __ - - _- _--- _ SUNDAY ______________ 20 4 8510-8515 4 8705-8710 4 8750-8755 ___ 21 4 8505-8510 4 8705-8710 4 8750-8755 ___ 22 4 85 -8515 4 8695-8715 4 8750-8765 ___ 23 4 85 -8510 4 8690-8695 4 8740-8745 ___ 24 ----------- HOLIDAY ______________ 25 - -- - - ______ HOLIDAY ______________ 26 ----- ------ SUNDAY __________ ____ 27 4 8490-8495 4 8680-8685 4 8735-8740 ___ 28 4 8485-8490 4 685-8690 4 8730-8735 ___ 29 4 85 -8515 4 8690-87 4 8725-8740 ___ 30 4 8510-8520 4 8705-8710 4 8735-8745 ___ 31 Range. 4 8510-8520 4 8710-8725 4 8750-8765 High 4 8430-8435 4 8640-8645 4 8665-8675 Low UNITED STATES SECURITIES. COURSE OF DEBT AND PRICES. The following table shows the public debt of the United States from 1793 to 1908, inclusive. In the year 1856 and subsequently the totals given are the net amount of debt (not including accrued interest), less the balance of coin and currency in the Treasury. Bonds issued to the Pacific railroads are not included in the statement. For some of the years the figures printed below do not agree with those reported in the monthly debt statements issued by the Government, as a change in the form of the statements was made several times. We give the results on the same basis for all the years. The. totals are for January 1 of each year from 1793 to 1843, inclusive, and for July 1 (close of the fiscal year) since 1844, inclusive. The debt was at its highest on August 31 1865, when it amounted to $2,756,431,571. UNITED STATES DF.BT 1793 TO 1008. Year. Amount. Year. Amount. 1793 ______ $80,352,634 1812 _____ $45,209,737 1794 _____ 78,407,404 1813-1- _ - _ 55,962,827 1795 _____ 80,747,587 1814 _____ 81,487,846 1796 _____ 83,762,172 1815 . ____ 99,803,6'10 1797 _____ 82,064,479 1816 ______ 127,334,933 1798 _____ 79,228,520 1811 _____ 123,491,!165 1799 _____ 78,408,669 1818 . ____ 103,466,633 1800 _____ 82,976,294 1819 .. ____ . 95,529,648 180L ____ 83,038,050 1820 ___ ·- 91,015,566 1802 _____ 80,712,632 1821_ ____ 89,987,427 1803 _____ 77,0i>4,686 1822. ____ 93,546,676 1804 _____ 86,427,120 1823 _____ 90,875,877 1805. ____ 82,312,150 1824 . ---- 90,269,777 1806 __ ___ 75,723,270 1825 _____ 83,788,432 1807 _____ 69,218,390 1826 _____ 81,054,059 1808 _____ 65,196,317 1827 _____ 73,987,357 1809. ____ 57,023,102 1828. ____ 67,475,043 1810 _____ 53,173,217 182P _____ 58,421,413 11n1. ____ 48,005,587 1830 _____ 48,565,406 Amount. Year. 1831- ____ $30,123,191 1832 ___ __ 24,322,23,i 7,001,698 t.'~33______ ---1834 4,760,082 1835 _____ 37,513 1836 _____ 336,957 1837 _____ 3,308,124 1838 _____ 10,434 ,221 1839 _____ 3,573,343 1/MO _____ 5,250,875 1841. _ .-- 13,594,480 1842 ... .. - 20,601,226 1843 _____ 32,742,922 ll\44 _____ 23,461,652 1845 _____ 15,925,303 1846 _____ 18,550,202 1847 _____ 38,826,534 1848 _____ 47,044,862 1849 _____ 63,061,858 Amount. Year. 1850 _____ 1851_ ____ 1852 _____ 1853 _____ 1854 _____ 1855 _____ 1855. __ - 1857 _____ . - --1858 1859 _____ 1860 _____ 1861- ____ 1irn2 _____ 18/i3 ___ . . 1864 _____ 18fi5 _____ 1866 _____ 1867 _____ 1868 _____ $63,452,773 68.304,796 66,109,341 59,803,117 42,242,222 35,586,956 10,965,953 9,998,622 37,900,192 53,405,234 59,964,402 87,718,660 505,312,752 1,111,350,7a7 1,709,452,277 2,674,815,8!>6 2,636,036,163 2,508,151,211 2,480,853,413 Year. Amount. Year. Amount. 1869 _____ 1870 _____ 1871- ____ 1872 _____ 1873 _____ 1874 _____ 1875 _____ 1876 _ ___ 1877 ___ __ 1878 _____ 1879 _____ 1880 _____ 1881. ____ 1882. __ _ _ 1883 _____ 1884 _____ 11185 _____ 188fL ____ 1887 _____ 1888 _____ $2,432,771,873 2,331,169,956 2,246,994,068 2,149,780,530 2,105,462,060 2,104,149,153 2,090,041,170 2,060,925,340 2,019,275,431 1,909,382,280 1,906,414,905 1,919,326,747 1,819,650,154 1,675,023,474 1,538,781,825 1,438,542,995 1,375,352,443 1,282,145,840 1,175,168,675 1,063,004,895 1889 _____ 1890 _____ 1891- ____ 1892 ___ _ _ 1893 _____ 1894 _____ 1895 _____ 1896 _____ 1897 _____ 1898 _____ 1899 ______ 1900 _____ 1901. ____ 1902 _____ lll03 _____ 1904 _____ 1905 _____ 1906 _____ 1907 _____ 1908 _____ $975,939,750 890,784,371 851,912,751 841,526,463 838,969,476. 899,313,380 a932,830,667 955,297,254 986,656,086 xl,052,0'85,492 1,155,320,235' 1,107,711,257 1,044.739,120 969,457,241 925,011,637 967,2:H,774 989,866,772 964,435.687 878,596,755 938,132,409 a We have Increased the amount for this date $31,157,700 to allow for the :foreign half of the Morgan-Belmont loan negotiated abroad, which did not appear In the Government debt statement for June 30 1895, though the money In payment for It had already been received and counted In the ·rreasury cash. x We have enlarged the amount for 1898 by S25,000,000 to allow ror receipts up to that date (June 30) on subscriptions to the $200,000,000 new Gov~nment 3 per cents, such receipts having- increased Government cash by a correspundlng sum. It ls proper to say that the augmentation In the net debt at this period would have been much heavier than that recorded by these flg-ures ($1,052,085,492) except that during the fiscal year the Government received $60,201,885 cash from the Union Pacific sale, only $29,904,952 o! which wrnt to redeem maturing- PacUl.c Railroad bonds. UNITED STATES DEBT STATEMENT DECEMBER 31 1908. To bring the results down to the latest date, we add the official statement of the public debt as it appears from the Treasurer's returns at the close of business on the last day of December 1908. INTEREST-BEARING DJ!!JECEMBE.fm~1J92!.~tanding-- P~~~f/ Jss~. Regtsiered. Couf°n. Toial. 01 Loan2s, consols ot 1930. ______ Q .-J. 646,250,150 641,129,750 5,120,400 646,250,150 3s, Loan ot 1908-1918 ____ Q.-F. 198,792,660 40,901,580 23,043,880 63,945,460 4s, Loan ot 1925 _________ Q.-F. 162,315,400 97,273,200 21,216,700 118,489,900 TUle 2s, Pan. Canal Loan 1906_Q.-N. 2s, Pan. Canal Loan 1908_Q.-F. 54,631,980 29,583,360 54,599,980 28,084 ,480 32,000 1,498,880 54 ,631,980 29,583,369 Aggregate lnt.-bearlng debt.-1 ,091,573,550 861,988,990 50,911,860 912,900,859 Note.-Denomlnatlons ot bonds are: or 20, loan or 1908, coupon and registered. or $50, all Issues except 3s or 1908; or $100, all Issues. or $500, all Issues; of $1,000 , all Issues. or 5,000, all registered 2s, 3s and 4s: or $10,000, all registered bonds. or $50,000, registered 2s ot 1930. DEBT ON WHICH INTEREST HAS CEASED SINCE MATURITY. November 30. December 31. Funded loan of 1891, continued at 2%, called May 18 1900, Interest ceased Aug . 18 1900_______________ 32,000 00 $32,000 00 Funded loan ot 1891, matured Sept. 2 189L_________ 24,450 00 24,450 00 Loan ot 1904, matured Feb. 2 1904_________________ 71,050 00 71 ,050 00 Funded loan or 1907, matured July 2 1907. __________ 2,581,000 00 2,390,100 00 Refunding certificates, matured July 11907_________ 17,930 00 17,91000 Certificates or Indebtedness matured Nov. 30 1908____ 6,250 00 Old debt matured at various dates prior to Jan. 1 1861 and other Items or debt matured at various dates subsequent to Jan. l 186L__ _____ _ _ _ _ _ _ _ __ __ ___ _ 914,585 26 913,425 26 Aggregate debt on which Interest has ceased since maturity _________________________________ __ $3,647,265 26 DEBT BEARING NO INTEREST. =:: :=: ==::::::: =::: $3,448,935 26 =::::::: = :g~g gg g~~:!!~n~~~::: ==:: :: : ::: =$346,6~~ National bank notes-Redemption account______________________ 46,905,160 00 Fractional currency, less $8,375,934 estimated as lost or destroyed__ 6,861,924 28 Aggregate debt bearing no lnJi~~5!i,I'l'ULATION~-------------$400,501,382 78 ClasstftcattonDec. 31 1908. Interest-bearing debt ______ $912,900,850 00 Debt Interest ceased_______ 3,448,935 26 Debt bearing no Interest____ 400,501,382 78 cJit8;1!~;;;~~reasucy*==$1,m:iitm Jncren.se ( +) or Nov. 30 1908. Decrease (-). $883,317,490 00 +$29,583,360 00 3,647,265 26 -198,330 00 403 ,856,167 78 -3,354,785 00 g: ' 1·m::~~:m g: Total net debt __________ •$997,349,750 70 • Including $150,000,000 reserve fund. $989,433,560 71 +.m~m:m g~ +$7,916,189 99 STOCK OF MONEY I THE COUNTRY .-The following table shows the general stock of money in the country, as well as the holdings by the Treasury , and the amount in circulation, on the dates given. -Stock of MoneyJan.1 '09- -Money in CirculattonIn UnUed Held in Jan. 1 J an. 1 States. Treasury.d 1909. 1908. $ Gold coin and bulllon ____ _l,653,881,807 176,291,097 Gold certltlcates_a_______ _ __________ 56,412,360 Standard silver dollars____ 563,663,812 4 ,219 Silver certificates.a_______ _ _________ 20,378,201 Subsidiary silver ___ ___ __ _ 153,226,112 18,162,747 Treasury notes or 1890____ 4,596,000 6 ,811 United States notes _______ 346,681,016 10,258,047 National bank notes ______ 677,068,165 25,287,727 $ 619,317,841 801,860,509 72,443,593 470,837,799 135,063 ,365 4,589,189 336,422,969 651,780,438 s 648,573 ,173 706,612 ,349 91 ,312,428 467,731 ,347 134,980,859 5,469 ,056 345,275,422 679,034 ,664 Total _________________ 3 ,399 ,116,912 306,801,209 3,092,315,703 3,078,989,298 Population of the United States Jan. 2 1909 estimated at 88,209,000; circulation per capita, $35 06. * A revised estimate by the Director or the Mint· of the stock of gold coin was adopted In the statement for Aug. 11907. There was a r eduction of 135,000,000 . a For redemption of outstanding certificates an exact equivalent In amount or the appropriate kinds or money IS held In the Treasury, and is not Included In the account of money held as assets of the Government. d This statement of money held In the Trea-sury as assets of the Government does not Include deposits of public money In national bank deposltarles to the credit of the Treasurer of tbe United States, amounting to $112,126,477 57. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis TREASURY CASH AND DEMAND LIABILITIES.The cash holdings of the Government as the items stood Dec. 31 are set out in the following: ASSETS. LIABILITIES. Trust Fund Holdings- Trust Fund Liabilities- S $ Gold coin _____________ $858,272,869 00 Gold certificates _______ 858,272,869 00 Silver dollars __________ 491 ,216,000 00 Silver certificates ______ 491,216,000 00. Silver dollars otl890._ _ 4,596,000 00 Treasury notes ofl890. _ 4,596,000 00 Total trust fund _____ l,354,084 ,869 00 General Fund H oldin9s- · Gold coin and bullion___ Gold certificates_______ Silver certificates______ Silver dollars__________ Sllverbulllon__________ United States notes____ Trea-sury notes ot 1890. _ National bank notes____ Fractional silver coin___ Fractional currency____ Minor coin____________ Bonds and Interest paid_ 26,291,097 56,412,360 20,378,201 4,219 4,324,443 10,258,047 6,811 25,287,727 18,162,747 239 2,023,736 26,097 46 00 00 00 90 00 00 00 30 18 62 31 Total trust llabllltles.1,354,084,869 00 Gen.Fund Liabilities- National Bank 5% fund Outstanding checks and drafts _____________ Disbursing officers' balances-------------Post omce Department account ___________ _ Miscellaneous Items. __ _ Total gen. llabllltles. 27,826,764 63 10,968,449 n 76,139,615 96 5,383,966 79 2,293,677 11 122,613,473 60 Tot. In Sub-Treas'les. 163,175,726 77 In Nat. Bank Deposltarles CredltTreasurerofU.S. 112,126,477 57 Credit U.S. dis. ottlcers. 11,801,958 21 Total In banks _______ 123,028,435 78 In Treas. of Philippine Islands-Credit Treasurer or U.S. 2,002,828 05 Cash balance and 1eserve-Credlt U.S. dis. offlcers_ 3,006,900 34 Total cash and reserve__ 319,501,417 34 -----Made up orTotal In PhJI!pplnes._ 5.,009,728 39 Avallable.-169,501,417 34 ·and Reserve Fund HoldingsReserve FundGold coin and bulllon___ 150,000,000 00 G<>Id&bull. 150,000,000 00 Grand tota\. ____ ----1,796,198,759 94 ------ Grand tota\. ________ l,769,198,759 9~ TREASURY CURRENCY HOLDINGS.-The following compilation, based on official Government statements, indicates the currency holdings of the Treasury on the first of October, November and December 1908 and Jan. 1 1909. TREASURY NET HOLDINGS. Holdings in Suo-Treasurtes- Oct. 1 '08. Nov. 1 '08. Dec. $ $ '08. Jan. 1 '09' $ $ Net coin and gold bulllon _______ 222,058,504 232,051,793 228,201,751 232,703,457 Net silver coin and bullion ______ 17,955,086 10,113,154 12,726,314 24,706,864 Net United States Treasury notes 16,191 13,775 10,143 6,811 Netlegal-tendernotes __________ 5,490,551 3,686,960 3,043,833 10,258,047' Net national bank notes ________ 39,829,288 22 ,642,191 17 ,752,117 25,287,727 Net fractional silver ___________ 21,746 ,013 19,272,269 17,913,465 18,162,747 Minor coin, &c ________________ 2,906,217 2,684,561 2,333,786 2,050,073Total cash In Sub-Treasurles_.310,001,850 290,464,703 281,981,409d313,175,726 Less gold reserve fund _____ • ____ 150,000,000 150,000,000 150,000,000 150,000,000, Cash bal. In Sub-Treasurles ___ l60,001,850 140,464,703 131,981,409 163,175,726 Cash In national banks _________ l29 ,925 ,200 131 ,693,493 130,111,806 123,928,436 Cash In Philippine Islands ______ 4,687,105 4,029,618 4,769,987 5,009,728 Net Cas!J In banks, Sub-Treas.294 ,614,155 276 ,187 ,814 266,863,202 292,113,890 Deduct current llabllltles.a _____ ll5,561,582 109,305,561 115,475,840 122,612,473- Avallable cash balance _______ l79,052 ,573 166,882,253 151,387,362 169,501,417 a "Chiefly disbursing omcers' balances." d IncludPs $4,324,444 silver bullion ancr:s2,050,073 minor eotn, &c., not Included In statement "Stock of Money." UNITED STATES SECURITIES. PRICES OF UNITED STATES BONDS. In the following tables are shown the highest and lowest prices of U. S. Government securities for each month from 1860 to 1908, inclusive. In the first-mentioned year the total debt was almost nominal. Then followed the war period till April 1865; thence the ·period of speculation unt il September 1873; thence the period of recuperation till the resumption of gold payments on January 1 1879, and the subsequent funding of the matming bonds into new bonds at 4½, 4, 3½, 3%, and finally in September 1891 the extension of the 4½s at 2%, payable at. option. In 1894 a somewhat different era began with the issue of 100 million dollars of 10-year 5% bonds to meet deficiencies in revenue and make good the depletion of the gold reserve, followed by the issue in 1895 of $62,300,000 of 30-year 4% bonds, under the celebrated contract with the MorganBelmont Syndicate, to protect the gold reserve, and another issue of 100 million dollars for the same purpose in February 1896. In 1898 the war with Spain led to the issue of $200,000,000 of new 3 per cents. In 1900 refunding of the existing debt (all except the 4s of 1925) into new 2% consols was provided under the Gold Standard Law. This refunding progressed until December 311900, when the Secretary suspended the privilege. The extended 2 per cents were paid off. In 1903 holders were given another opportunity to refund, and in 1905 the privilege of exchanging the o'ld bonds for the new was again accorded. In July 1906 the Secretary of the Treasury was very successful in selling $30,000,000 10-30-year Panama Canal 2% bonds . In April 1907 the Treasmy offered to exchange $50,000,000 of the 4s of 1907 into 2% consols and called the remaining 4s for redemption July 2 1907. At the time of the panic in November 1907, in order to provide a new supply of bonds· for bank-note circulation , the Treasury invited bids for $50,000,000 additional Panama Canal 2s (besides offering a large amount of one-year 3% certificates of indebtedness), but eventually allotted not quite $25.000,000 of the bonds . In December 1908 $30 ,000,000 more of the Panama 2s were sold. u. S . GOVER.NMENT SECUR.ITIES. I Aprt,l. July. Auoust. Sept'ber. , October. Nov'ber. Dec'ber. May. June. January. February March. Low Hioh Low Hioh Low Hioh Low Hioh Low Hioh Low Hioh Low Hioh Low Hioh Low Hioh Low Hioh Low Hioh Low Hioh 1860 . u. s. 6s of 1868 , COUP- - - - 10612 107 10612 10714 10612 10714 108 108 14 10838 10912 108 108 108 109 109 10238 10258 103 10012 10034 101 10334 10334 10412 10178 102 102 9918 100 9918 10012 10012 10214 102 5s of 1865 , COUP ---- - -- 98 100 5s of•1874, COUP- ---- -- 9914 10012 10038 10012 10034 10134 103 103 14 103 10914 108 10812 10734 10734 ---- ---102 102 102 102 10212 93 98 103 10234 10318 10212 103 95 103 96 92 89 96 93 95 97 89 8612 825g 79 98 9312 8812 83 10112 102 102 103 10412 10214 97 95 97 9134 9112 93 9112 9712 993g 9434 10312 105:ls 10012 102 10434 95 9234 9218 9734 10414 1861 . u. s. 6s of 1868, COUP---6s 5s 5s 5s of 1881 , COUP------of 1865. COUP - -----of 1871 . COUP ------ of 1874 , COU P- - - - - - - 98 100 94 100 95 - --- - --- 9314 93 14 91 9018 92 91 93 92 97 91 86 89 8712 91 9312 85 85 9512 95 8412 94 92 91 85 90 75 95 94 9134 85 8912 86 8434 85 78 75 14 95 89 86 80 79 88 90 87 90 83 85 8518 903s 8512 8634 86 89 7518 79 7712 80 75 7812 76 82 8712 90 88 8714 8938 8914 85 87 86 ---- ---- 7912 7912 78 14 81 90 913s 8734 81 81 90 9114 87 14 8112 811s 90 9534 89 85 86 1031g 10434 97 93 94 9934 103 92 9312 8712 8212 83 92 95 18 89 86 86 83 1862 . u. s. 6s of 1868 , COUP---6s of 1881 , COUP- -----5s of 1865 , COUP------5s of 1871 , COUP - - - - - - 5s of 1874, COUP- - - - - - 6s, certificates- - - - ___ 7 3-10 notes- - - - - - ____ 85 87 12 85 7912 78 90 9134 8612 80 805g ------9712 98 9212 9238 9014 88 85 ---- ---- 97 995a 9914 98 90 8812 8634 79 7812 92 93 90 80 85 95 94 3s 98 88 88 97 100 9714 102 10312 94 97 9212 98 9734 10512 10512 9212 9312 97 92 93 9612 93 ------- 1 96 951g 865g 90 89 4 96 9638 99 99 1001g 1001g 9978 10112 10214 10534 10412 1011s 10714 99 97 9712 10014 10614 9612 9612 90 8612 85 98 99 100 103 92 8634 91 99 10514 9612 981s 94 8834 85 9814 10218 9912 10134 94 90 91 9978 10512 9612 99 94 89 88 9814 10234 100 10212 95 91 913g 9958 10478 103 102 96 9212 91 9812 103 10512 9978 9814 1001g 10012 1071g 107 10434 10612 10718 ---- ---- 104 95 14 9814 97 9918 102 101 997g 98 98 10412 106 106 104 107 10634 110 10812 100 10114 9918 1071g 10712 104 10412 97 9812 9714 105 10512 107 105 100 10118 9912 107 10712 1045s 105 9612 100 9914 10534 10512 10718 105 101 10138 9978 10714 10714 106 107 97 101 9914 10612 105 97 10134 995g 1073s 10612 10634 11034 10834 ---- ---- 117 9614 10014 100 10178 10212 98 99 9912 981g 10512 1085s 10534 106 108 106 11014 125 100 10214 99 1075s 1071g 10812 124 98 10134 98 10612 10612 110 127 10012 10214 9812 1067g 10714 114 102 10678 1045g 10934 10634 10112 109 10612 113 ---- ---- ---- ---- 103 10312 103 110 10214 10712 107 112 9234 9838 93 9614 9334 9514 10612 105 95 107 93 109 11138 99 112 95 10412 10612 9212 104 9412 10634 10812 9612 10834 9512 10612 10012 94 107 95 113 10714 9914 124 98 11258 10618 9812 11612 96 118 110 10212 12238 9778 10714 1057g 105 937g 98 9812 1081g 1081g 10634 l,J412 995g 99 1063g 10134 101 9212 97 9734 10814 10514 103 941g 9914 995g 10514 9914 9878 8934 955g 9614 1065g 103 10114 9234 99 97 78 1063s 100 99 9038 9614 9712 10814 1051g 10218 95 9878 985g 1863 . u. s. 6s of 1881 , COUP- - - - 5s of 1865 , COUP- -- ---5s of 187 4 . coup ___ ____ 6s, ~old certificates - ___ 6s, current certificates73-l0s, A. & Q _______ 7310s , F. & A------- 9334 10212 9134 99 99 8512 9712 86 90 9434 97 14 9318 99 10014 9978 94 9814 ---- ---- 9634 10134 10512 10434 10212 10412 10238 ---- ---- 96 ---- ---- 100 103 10212 103 10834 106 98 102 9978 10712 109 10712 106 9834 10014 97 10312 107 ---- ---- 1864 . u.5-20s, s. 6s of 1881 , COUP---coupon _________ 104 107 10634 11112 11114 1131g 113 10112 10478 10334 107 107 11012 105 113 115 10512 10714 10-40S, COUPOn-- ------ - --- ---- - --- ---- ---- ---- --- - ---- ---- ---73-l0e, A.&. Q ______ _ 10638 1075g 10734 111 111 113 10814 115 10912 112 1-year certificates- - - - - 9734 981g 971g 9912 991g 9978 9734 9918 9818 9812 118 114 111 101 1865 . u. s. 6s of 1881 , COUP- --- 5-20S,COU POn --------5-20s, new, coup ______ 10-40s,COUPOD ---- --- 7 3-10 notes - - -------1- year certificates- ____ 10912 1063g 10612 10012 114 967g 1123g 110 110 10234 119 98 10912 10878 108 1007g 115 9778 11112 10312 llllg 105 112 10434 11134 1053g 111 10034 1103g 10514 10218 8914 10234 9112 11612 114 11412 ---9812 9612- 9858 985g 1103s 10914 10914 973g 10812 10214 10212 9414 ---- 99 12 9912 99 11034 107 106 975g 997g 9912 10834 102 103 9434 9912 995g 11012 10414 104 9734 9918 9978 10612 10378 1035g 9658 9912 9758 10834 106 10538 98 100 99 14 106 10512 104 93 9814 9712 10714 1067g 105 9818 995g 9834 1866 . 10518 10458 l0Sl2 107 10912 10912 11018 10678 110 10912 11314 11034 112 11112 11312 112 u. s.. Gs of;l.881. COUP---- 10334 1045g 10334 10412 10414 10414 1087g 1077g 11212 103 1043g 10314 1063g 1003g 10214 5-20s of 1862 - -------5-20s of 1864 --------5-20s of 1865 --------10-40s _ - - _- _ - _- ____ - 7 3-10 notes, 1st-----7 3-10 notes , 2d -----7 3-10 notes, 3d ------ 10334 10312 971g 103 103 103 106 10614 99 10412 10412 10412 10814 10512 106 99 104 104 104 11334 110 10934 10314 1075g 10634 1065g 108 10734 9712 10512 1051g 105 10912 1095g 10014 10712 1063g 10612 11138 1095g 109 9918 106 1055g 10512 11514 111 lll3s 1001g 107 10614 10614 10712 10534 10534 9912 105 104 104 11434 1107g 10734 10938 10034 1081s 1061g 10734 10934 10518 10414 1041g 99 104 1037g 104 11314 1081g 107 10714 10034 10534 10534 10534 109 11058 10712 10758 10612 107 ---- ---- ---997g 9912 10012 10012 11034 11214 10978 10978 10834 1085s 10234 11014 1115s 109 10912 10734 1077g 10218 11218 1147s 1105s 11118 10878 1087g 10314 11034 11014 1087g 10938 10712 1075g 9912 11214 11514 11014 11112 109 109 9978 11012 11112 10814 10838 1063s 10614 995g 11238 11314 1095g 11014 1075s 108 10118 112 1077g 105 10518 1073g 10712 10038 11314 1085s 10558 10612 108 108 1023s 1113g 107 10412 10434 10712 10712 1005g 1127g 1083s 106 1057g 1085g 109 104 11234 11234 110 11034 108 10818 10818 1065g 1155g 1145g 1115g 11234 10912 1095s 10958 1085g 1131g 11234 1085g 110 10738 10612 107 108 11614 115 11114 11212 10914 10938 10938 10958 11312 11212 10914 10934 1077s 10734 10814 10412 11412 11514 11014 1115g 10914 10914 10912 10538 113 11214 10912 10978 10758 1075g 1081g 10414 11614 115 11234 11278 1117g 112 1121g 10658 1113s 10558 10434 10434 10612 10714 1075g 103 11512 1135s 10834 1087g 11018 11114 111 10634 1;!.418 1097g 10638 10718 10934 10934 110 105 115 11158 10758 1083s 1107g 11114 1113& 10578 10712 116 1153g 1151 8 1181s 11718 12114 11718 11634 1145g 122 12212 12214 12334 12312 1251g 12218 12334 11212 12012 1193g 1191g 12os8 1201s 1223g 1225g 12134 11612 12234 1227g 1225g 1241 8 124 12514 125 125 10814 11214 117 12034 1167g 12112 11634 1213s 11814 12212 11812 12214 11914 12314 119 12314 119 123 1073g 1093g 10612 108 11614 11811! 11334 11614 11518 11818 11334 11614 1157g 11838 11312 1161s 117 120 111 114 117 11912 11034 11338 11914 121 1123s 116 11812 120 11514 11934 119 12014 1153g 11914 1063g 113 11314 113 11034 11012 11178 11214 11518 11018 11614 11612 1161s 11418 11312 116 11612 12os8 10234 10112 10112 9278 9814 9734 9734 105 10214 10218 9334 993g 993g 99 10238 102 10178 9314 991g 987g 99 10338 1033g 10312 9478 9934 995s 9912 1027g 103 90 9912 9914 99 10418 1041g 923g 10014 10012 10014 10334 104 9112 100 997g 997g 1013s 10114 94 10012 101 10034 1021g 10238 9612 1025g 10258 10234 10112 102 1021g 9534 102 102 102 10438 10338 10312 9714 10314 1033g 10338 10612 10614 1051g 105 1033g 108¾ 108 106 10634 1045g 10712 10734 10534 10534 1043g 11012 11134 10812 10918 1067g 1083g 10878 10718 1071g 10612 11018 111 108 10834 10738 1087g 11014 11012 11038 11114 107 10758 10918 1051g 10118 10958 10558 1011s 10712 10712 112 1097g 106 108 10838 llFs 1095s 10534 10612 10812 11314 1107g 1075g 10734 11012 116 11178 10934 1097g llFs 1121g -- - - ---- --- - ---- ---- ---- ---- ---- -- - - ---lOFs 10412 10414 1053g 10014 10138 10012 103 103 1057g 11612 11134 1095s 110 11238 11258 10934 10534 1181g 1137g 11114 11134 11414 1143s 11018 10738 1073g 11878 11914 119 10912 12014 1201s 120 119 1175g 12234 11712 12238 10578 106 9612 102 102 102 1867 . u. s. 6s of 1881 , COUP--- - 5-20s of '62 , COUP -----5-20s of '64 , COU P - - - - - 5-20s, '65 , c., M. &. N- 5-20s, '65 , c., J. & J ___ 5-20s of '67 , COU P- - - - - 10-40S,COUPOD--- --- -- ---- ---9914 100 ---- ---- ---- ----1 ---- ---- ---977g 9934 10134 9712 98 4 99 99 11312 11212 1107g 11118 109 10912 113 108 1065g 1065s 10878 10914 10818 11612 1165g 11612 11938 11734 122 118 11834 10712 11534 11534 1157s 11412 11312 11712 11812 118 1868. u.5-20s, s. 6s of 1881, COUJ>---1862 ,coup ____ __ 5-20 s, 1864,coup ______ 5-20s, 1865 , M. &. N---5-20s, 1865, J. & J _____ 5-20s, 1867,coup ______ 5-20 s, 1868,coup ______ 10-40s, COUP---- - - - - - - 1083s 1077g 10514 106 10412 1045g 112 llFs 1095g nots 10814 10838 11034 110 1073g 10812 10614 1067g 11238 11134 10912 11014 10818 10838 11014 10914 10714 1075s 10614 10614 llFs 11034 10838 109 10734 10712 1101s 1091 8 1075g 1077g 1063g 10634 1869 . U. S. 10-40s, cou p _______ 10534 1085g 10814 11014 1051g 10614 105 5-20s, 1868 ,coup ______ 5-20s, 1867 ,coup ______ 5-20s, 1865 , new, coup_ 5-20s, 1865,coup ______ 5-20s, 1864 ,coup ______ 5-20s, 1862 ,coup ______ 6s of 1881, reg ________ 6s of 1881 , COUP------- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 10714 10678 10658 10734 1075s Illig 109 111 10912 109 1085s 1105g 10934 11358 11112 11238 1087g 1085g 10838 11012 10914 113 11112 1121g 11214 11318 11314 11618 11514 11812 11412 11638 11234 11212 11212 11478 11334 11738 1147g 1153s 114 1135s 11334 118 11512 120 11612 11714 1135g 11278 1125g 11578 1135g 11734 11512 11538 110 12014 12014 12014 11912 11712 1235g 1221g 12318 11118 11634 1215s 11612 121 UNITED STATES SECURITIES. u. January. F ebruary. s. March. April. May. June. July. 63 Auoust. Sept'ber. October. Nov'ber. Dec'ber. GOVERNMENT SECURITIES . Low Hioh Low High Low High Low Hioh Low Hi(lh Low High Low High Low High Low Hioh Low Hioh Low Hi(lh Low Hioh I 1870. 11334 11612 11318 11678 116 u. s. 6s of 1881, COUP---- 11558 11812 11578 11814 1155g 11312 113 11218 11158 11118 11134 10934 1091g 11612 116 11618 11434 11418 11458 11318 11112 114 11314 11312 1117s 1121g 113 11118 11114 11514 11518 1141s 11414 11438 114 1117s 10912 L083s L083s 10718 108 10812 10434 U05g 11414 11338 11318 11134 1121g 11238 10834 11318 11014 10914 10938 1073-1 10812 10878 10858 11114 11514 11414 11458 11318 11358 11312 10858 11234 11118 11058 11058 11234 11314 11314 10738 11212 1175g 11212 11118 112 11414 11434 115 10858 1121s 11738 111 11034 11034 11278 1127g 113 10758 113 11812 11238 11212 10834 11134 10834 11134 10834 11414 1073g 11438 1075g 11438 108 10834 10638 11434 11014 11514 1121g 112 112 llllg 11118 lllls 10878 114 11318 11018 10918 10834 10858 10834 109 10678 11034 11 458 11218 11112 11178 11014 11038 11012 11034 11214 11334 11212 11118 11112 110 11018 11014 10578 111 11458 11412 112 1123g 11034 11018 1107g 107 112 11312 11178 11114 ll0lig 1101g 11014 11012 10614 111 11418 113 11134 11214 11012 1105g 1107g 1067g 1113g 1131 8 10112 107 1067g 109 10914 10912 10614 1107g 113s8 10918 1077g 10814 11014 11014 11012 107 11112 113 10714 1063-1 1063.i 1091s 1091g 10958 10614 10934 1135g 108 1073.t 1075g 1103g 11038 111 1067g 1107g 11014 10858 10778 108 107 10714 1077g 10634 110 11314 11012 1097g 10914 10858 10878 10914 10958 11112 113 11038 110 110 109 109 10934 10912 11114 11434 11234 111 78 11214 111 11118 11134 11178 1133s 1145g 11178 11112 11134 11012 11012 11078 108 11358 1161g 113 11238 11238 11118 11114 11134 10934 1153s 11614 11218 11214 11212 11114 11138 1115g 10812 1151g 11714 114 114 114 113 113 113 10912 11534 117 11034 11018 11018 113 11234 113 109 11512 11738 11134 11134 11134 114 114 1141g 110 11578 11714 112 11178 11178 11318 11378 114 1093g 11514 11818 11338 113 1131s 11478 11538 1151s 11034 11518 11478 11334 11312 ll314 11214 11238 1127g 111 113 11614 11514 11434 11414 11218 11314 11338 113 14 11518 116 1137s 11378 114 11212 113 11314 110 114 119 11434 11414 11412 11358 11358 11412 111 11634 118 1145s 11434 11434 11358 11334 11414 11112 11412 11938 11558 11558 11578 114s8 11434 1145s 11134 11614 11514 11334 11318 11312 112 112 112 107 11012 11814 1157g 11518 116 11434 11478 115 11134 11412 11612 111 11078 11112 113 11358 11358 1091g 11112 11734 11134 11134 11238 11414 115 115 110 11338 11714 10914 10934 11012 113,4 1143g 11458 1091g 11318 118 111 111 11134 115 1157g 116 1097811514- 101112 11418 11412 10934 10912 11034 1097g 11138 11134 109 10912 lf434 11018 11434 11534 11058 11034 1123g 11134 113 11314 11012 1105g 11534 10734 114 11414 1101g 110 11osg 110 11114 11114 1063g 10934 11334 10878 11478 11558 11114 1113g 1117g 1105g 112 1123g 10712 11078 1147g 10834 11414 11514 111 111 1121g 1101g 1113g 112 10714 10734 114 110 11434 11534 11214 1123g 11278 11112 113 1131g 108 1083g 11512 10978 11434 1i51 2 1123g 11212 1125g 11112 11218 113 108 10814 1151g 11218 117 11818 11534 11534 11612 11434 11518 116 11058 1107g 11634 11114 11618 118 1121g 1121g 1127g 11434 11512 11534 110 1103g 11614 113 11714 11934 114 1137g 115 11614 1173g 1171g 11138 11214 1173g 112~8 11412 11958 114 114 11434 11614 1173g 1171g 1105g 11112 1143g 1133s 115 12058 115 115 116 11712 11812 11734 11134 1125g 115 11312 11512 117 1145g 1145g 1151g 11334 1151g 1147g 1113g 11214 1143g 11334 116 11818 11534 11534 11638 115 116 116 1117g 11314 115 11214 114 11614 1141g 114 1145g 1131g 11334 11314 10834 11112 11212 1127g 11614 11814 1183s 11612 1167g 11512 1161g 11534 1095g 1135g 11414 10934 11338 11418 113 11314 11312 112 11214 11234 10734 1075g 11134 11134 11412 11614 1145g 11412 11434 11334 11414 114 109 1081g 11234 111 11414 1155g 11514 1145g 1153g 11358 1137g 114 1077g 10734 111 1113s 11514 117 11618 116 1163g 115 11514 115 1085g 1085g 114 110 11412 1161g 11112 1113g 1121g 114 11414 11414 10734 10734 11314 11012 1161g 11718 113 11314 11314 11534 1161g 11534 10814 10812 11412 111 11234 1171g 11214 1123g 11212 115 1157g 11534 10912 10918 11~ llllz 1145g 118 11338 11312 1133g 1165g 1171a 11634 110 1097g 1133g 11214 1145g 11412 11258 11314 1135g 11234 1133s 1133g 1095g 10978 6 s, cur r enc y _- - - - - - - - - 1125g 1151g 1171g 11914 1153g 11514 1163g 1153g 11634 1167g 114 11512 11512 11314 1165g 11814 11414 11412 11514 11414 11614 11614 11138 1141g 11412 11334 1173s 11834 1157g 1155g 1161g 1145g 11634 1165g 11212 1151g 11514 113 11614 11814 11558 11512 1163g 1143g 116 1161g 11012 1105g 1135g 1151g 118 12014 11714 1173g 11814 11634 11814 118 11214 11212 115 11514 11614 11834 116 116 118 1151g 11612 116 10912 111 11214 11614 118 121 1185g 1185g 12012 118 1197g 11734 112 11378 115 11514 11714 12014 1147g 11434 11714 11712 11914 118 11178 1135g 115 11614 119 1225g 11634 11634 11814 11914 1217s 12012 11214 1143g 11614 11438 11512 12218 11578 11614 1165s 119 1203s 120 11214 1127g 11314 11534 117 1231g 1171g 11714 1191g 12034 1217g 1207g 11312 115 11412 1143g 1167g 11914 11612 11612 118 116 11714 11712 11334 1143g 11414 1157g 1185g 1201g 11714 11734 11912 118 1191g 11834 1151g 1153g 1147g 11414 1173g 1191g 117 117 11834 1165s 1185g 118 1121g 11512 11312 11434 11814 12012 11712 1175g 1193g 11734 1195s 119 11334 1161g 1143g 11112 112 11514 1133g 11414 110 11134 11334 113 112 106 10814 1147g 117 1197g 1137g 11714 11834 1167g 11914 1187s 114 11434 11358 10634 10912 11112 10512 1061g 10712 10934 110 110 10312 105 10812 109 11534 1157g 109 110 11114 1133~ 11514 115 10914 10934 1115g 10614 11034 11214 10512 10612 1073g 10914 11012 110 10512 1051g 108 10918 1147g 11512 10914 111 111 1137g 1147g 115 10814 10812 1105g 1()914 11114 U._612 1107g 1115g 11112 11412 11514 11612 109 10812 10812 11314 1161z 121 116 11334 11134 11434 12014 121 1181g 12012 12114 1195g 1203s 12014 1135g 1163s 1167g 11414 11812 1193g 11612 118 1191g 118 11834 11812 11214 11234 11578 1151g 11934 121 11814 120 12034 11912 1203g 1201g 1151g 1153g 117 1153g 11912 12034 11734 11934 12058 119 11934 11934 1145g 1141g 11634 117 1201g 122 11834 12034 12134 12014 1207g 12012 115 11512 11714 115 1195g 120 115 117 1177g 11914 12014 1197g 1147g 11434 l1Gl2 11512 1203g 122 1155r, 117 14 1183g 12014 12034 12012 J 1514 11538 11714 113 1161g 1211g 1133g 11614 11712 11912 1197g 120 11312 1131g 1145s 1153g 11712 122 1153s 11714 118 14 1207g 1213g 12114 1147g 11434 11534 11212 1153g 1165g 11112 11534 11634 11512 11614 116 1121g 11212 1155g 11312 1173g 119 114 11612 11734 11634 1177g 11814 11312 114 11734 112 11714 11814 11134 11534 11634 116 1173g 11712 1097g 11312 11712 1125g 1175g 1185g 11212 116 11714 1165g 1177g 1185g 1107g 1141 2 11734 112 1167g 11734 1121g 1151g 11578 11514 11634 11612 11012 11114 11712 1125g 1177g 1185g 11234 1157g 1167g 11634 11734 11778 111 1117g 1175g 11214 11714 118 11234 1153g 1163g 11534 117 11714 111 11112 1173g 1127g 118 1185g 11334 1163g 1177g 1165g 117 7s 11778 112 11238 11818 11112 118 1185g 11034 113 11414 11612 11734 11778 llFg llFg 1177g 113 11914 1197g 11234 11434 1163s 119 120 11934 1133g 1141g 119 1123g 11558 11912 11214 114 14 116 14 11814 1193s 1197g 1125g 11334 11614 1137g 1185g 1221g 1143s 116 11838 121 122 12034 1151g 11514 118 116 1193g 11958 11558 11712 11912 1185g 11912 11934 11612 11634 120 11512 120 1213g 11712 1181g 1205g 11934 12012 12012 11412 1153g 11912 11434 120 121 1181g 11812 1211g 1191g 1197g 11934 1137g 11512 11918 11712 122 1233g 11834 121 12178 1221g 1233g 12212 1161g 11714 1247g 11558 1215g 1231g 11614 1177g 11958 1215g 123 123 1153-1 117 12318 117 1227g 12458 1171g 1181g 1201g 12278 12414 124 117 118 12434 1171g 12014 1251g 1177g 11814 12134 1231g 1243s 124 1175g L8l4 122 119 12118 12614 11814 11914 12234 1241g 12512 12512 11812 11912 1225g 11434 119 120 11534 116 11712 1171g 118 11912 11612 11634 122 1187g 121 123 1161g 1187g 1221g 12012 1221g 12112 1177g 11914 123 11512 1171g 1167g 11814 11658 11814 11514 11934 121 12034 12112 12oss 12112 1207g 12034 122 122 12334 12214 12378 1221g ---- ---- ---- ---- ---- -- -- ---11534 117 1167g 1193g 11834 11912 1141g 1183g 11934 11?34 11914 1187g 12014 11534 1181g 11938 1175g 11912 11812 11938 11834 120 1203-1 11978 121 11912 12114 12012 1201g 12112 120 12112 12012 12112 1207g 1143-1 11512 11518 117 11512 11634 11512 1173-1 11934 11634 118 1167g 1173-1 1171g 12214 123 1231g 124 12312 12412 12312 12318 12314 11834 1195g 1217g 12334 1185s 11914 119 12034 12134 11734 11812 12012 12214 117 118 11734 122 1227g 11812 1193g 12134 12234 1181g 119 119 1213s 1223g 11412 11834 12034 12234 11712 1183g 117 1223g 12234 11518 11914 1213g 123 118 11834 11712 119 12278 11514 11914 1213g 1233g 1193g 11934 11534 117ag 1193g 121 1177g 1183g 1167g 11734 11758 120 12034 11634 1131 8 1201g 12134 11858 119 1185g 11734 118 11212 113 1167g 121 11512 11834 11534 11978 12034 1161g 1177g 1197g 1215s 11634 1195g 11738 1117g 11212 11114 ---- ---- ---107 1057g 10912 1081g 1125s 1107g 113 10812 11314 112 112 10834 109 1077g 106 104 126 12334 1123g ---107 10938 11112 1095g U31g 1101g 109 10512 12514 1053g 107 1095g 1067g 10734 1071g 105 1013g 1205s 1057g 108 1101g 1085s 10934 10834 10634 103 12338 105 1067g 1091g 1063s 10738 1065g 1037g 1011s 1201/l 1057g 1083g 10934 1075s 1087g 1077g 1053s 1025s 12034 10814 10234 10512 108 10914 1063g 105 1007g 1205g 1073g 1025g 1051g 107"4 106 10534 1033s 10012 11912 10814 1027g 10512 108 10612 10614 10334 1007g 1197g 10758 10234 1051g 10738 10534 10514 1027g 9934 1191g 10818 10314 1061g 108 10638 1061s 104 1001g 1203g 5-20s,1862,coup ______ 5-20s, 1864 , coup ______ S,20s 1865 ,COUP- ----5--20s, 1865, new coup __ 6-20s,1867,coup ______ 5-20 s ,1S68,coup ______ 10-40s , COUP--- ------6s , currency - - - - - - - - - - 1871. u.5-20s, s. 6s of 1881 , COUP- --1862 ,cou p ______ 5-20s , 1864, COU P----- 5-20s, 1865 ,coup ______ 5-20s, 1865, new, coup_ 5-20s, 1867 , COUP-----5-20 s, 1868 ,coup ______ 1o-40s, COUP - --------6s, currenCY---------- • 1872. U . S. fund. 5s of 1881---6s of 1881 , re1t- ------6s of 1881 , COU P- - - - - -5-20s, 1862, coup ______ 5-20s , 1864 , COUP -----5-20s, 1865 , COUP- - - - - 5-20s, 1865, new, coup_ 5-20s, 1867, COUP-----5-20s , 1868 , COUP- - - - - 10-40s, re g ______ _____ l 0-40s , coUP---------6s, currenc y - - - - - - - -- - 1873 . ·. U S. fund . 5s of 1881- - - 6s of 1881 , reg __ ______ 6s of 1881, COUP- -- - - - 5-20s , 1862 , COUP- - - - - 5.20s , 1864, COUP -----5-20s, 1865, COUP-- ---5-20s , 1865 new, coup_ 5-20s , 1867 , COUP- - - - - 5-20s, 1868 , COUP- - - - - 10-40s , reg _________ __ 10-40s , cot ·p __________ 1171411714 11934 120 11834 11214 1131z 1143g 1874. U. S fund. 5s of 1881- - - - 111 6s of 1881 , reg ________ 1157g 1175g 11734 6s of 1881, COUP------- 117 1183g 11812 5-20s, 1862, COUP---- -- 11234 1147g 1155g 5.20s, 1864, COUP- - - - - - 114 11658 1165g 5-20s, 1865, COUP- - - - - - 115 1177g 1163g 5.20s, 1865 , new, coup _ 11412 11634 11614 5-20s, 1867, COUP- - - - - - 115 118 11734 5.20s, 1868,coup ______ 1175g 10-40s,reg ----------- m14m 1103g 10-40s, COUP- - - - - - - - - - 113 114 14 114 6s, currency_ - - - - - - - - - 114 11514 11514 1876 . U.S.fund. 5s of 1881, coup 1135g 6s of 1881, reg ________ 118 6s of 1881, COUP------- 11814 5-20s,1862,coup ______ 11414 5-20s, 1864,COUP---- -- 116 5-20s, 1865, COUP - - - --- 1181g 5-20s, 1865. new, coup_ 11714 5-20s, 1867, COtll> - - - - - - 11818 5-20s,1868,coup _____ _ 118 10-40s, reg ______ ____ _ 11434 10-40s, COUP---------- 115 Currency 6s ---------- 11712 11938 1193g 11334 11634 119 12012 120 1143g 11714 120 11412 1187g 11934 1163g 11712 11912 1183g 11914 1193g 11334 11334 1185g 122 12234 1177g 1197g 12214 123 11914 11934 1185s 122 12212 117 11914 121 1231g 11658 1195s 11738 1235s 1237g 11814 120 1225g 12334 11814 12134 1187g 1213s 12212 1181g 1187g 1211g 123 11734 11812 11814 125 125 128 12614 1271g 1261g 127 1147g 10912 1107g 114 11712 11418 11412 1125g 1113-1 1073-1 10838 1113g 11412 10912 1133g 10914 11412 10812 11034 11312 1167g 1113g 1147g lllls 1115g 10734 108 Illig 113 10914 uoas 1091g 11434 11834 11934 11534 11534 n91s 12058 11634 gtf~ ggl4 11838 1193g 11714 1165g 118 12212 1191g 120124 12312 125 ---- ---- -- -- 11512 1193-1 12112 1221g 11678 118 122 1165g 121 12314 123 11734 118 12234 1137g 11734 1095g 11334 11634 118 1137g 1131g 1123g. 1095g 12214- 1055s 10814 110 10734 10814 10612 1051g 1021g 12114 11214 11512 10812 1115g 11412 11612 112 11112 1103s 108 1207g ; I 1101s 10912 --- - ---1063g 1055g 10914 10814 11112 110 1081g 1065s 10834 10712 107 10514 1055g 10318 10234 101 122 120 10814 1033s 1057g 10812 10612 105 104 100 12114 1091g 10334 10612 10912 10734 1063g 10514 1003s 122 11412 11612 1203s 12234 12278 117 11712 12514 1876. U. S. 6s of 1881, reg - - - - - 1195g 6s of 1881, COUP--- -- -- 1207g 5-20s,1865,coup ______ 11614 5-20s, 1865 new, coup _ 117 5-20s,1867,coup __ __ __ 1193g 5-20s,1868,coup ______ 120 10-40s, reg -- -- -- --- -- 1173g 10-40s, COUP ---- -- ---- 118 5s of 1881, COUP--- ---- 11634 412s, 1891, reg --- ---- Currency 6s ----- ----- 1223g 1877. u. s. 6s of 1881, COUP---- 1137g 10814 10914 1121g 11434 11214 11218 111 5-20s, 1865, COUP-----5-20s, 1865 new, coup _5-20s, 1867, COUP -----5-20s, 1868, COUP -----10-40s, reg - - - - - - - - - - 10-40s, COUP ----- - - - -5s of 1881, COUP ------412s, 1891, COUP- - - - - - - ---- ---4s, 1907, reg _____ _____ --- - -- -Currency 6s ---------- 1217g 1233g 1133g 10812 10912 1127g 11412 1107g 11112 11034 11212 1085g 10812 1113g 1133g 1105g 11112 11012 11414 11112 11012 113 11518 1123g 113 11214 12038 1241g 11658 121 12314 12414 117 11712 1123-1 113 11638 11814 1143g 11514 1147g Illig 12634 12712 12458 12634 12512 1266s 1257g 12612 12638 rn;! m~~ 1141s 11534 1145s 11518 ---- ---- -- -- ---11134 1091g 110 1143g 1123s 11314 116 11512 11612 113 1113-1 1125g 11334 11212 113 112 11018 112 109 10634 10834 1103s 113 115 1121s 1127g 1107g ---- ---- --- - ---- ---- ---- 1083g --- - ---- - - -- ---- ---- ---- ---12212 12334 1223g 1233g 1233g 12434 12518 10612 10853 11112 112 11234 111 1083g -- -- ---- ---- 1053g 12512 122 1227g 1231g 1177g 12834 1131g 113 34 117 11812 11512 116 1157g 1113g 127 11038 111 1155g 11634 1113-1 1115g 1143-1 llfil2 113 11312 11312 1103g 123 11818 11914 114 1133g 11614 118 11434 11578 1151g 11112 12534 11612 117 10934 11212 11512 11634 113s8 11414 1113-1 110 1235g 10912 11034 11014 ---- ---- ---- --- - ---- 11734 1181g 11014 11314 11614 1175g 1141 8 11512 11314 1113s 12412 111 --- - 10634 10934 11134 108¼ 109 1073g. 10514 1031g 12214 1878. u. s. 6s of 1881, COUP - -- - 10612 10714 1053g 10612 1055g 1071g 1071g 10734 1073g 1087g 10838 11034 107 5-20s, 1865 new, cou p __ 5-20s, 1867,coup ______ 5-20s, 1868 ,coup ___ ___ 10-40 s, COUP----- -- - -5s of 1881, COUP- ---- -412s, 1891, COUP----- -4s, 1907 , coup-----~-Currency 6s -- ---- ---- 1025s 1051g 10634 10738 10518 10314 10138 11812 10314 106 10914 10834 1063g 10414 10234 11912 1025s 105 108 10612 103 1023s 10178 11812 1033-t 10618 109 10812 1043g 10312 10214 11912 10312 10512 1085g 1037g 103 lOFR 10018 118 1045g 10714 109 1053g 104 12 103 10118 119 104 10434 107 1075s 10958 11012 1053g 106 1043g 1055g 1023.1 10338 10038 10034 11714 11914 10614 10134 10234 10438 10578 10434 993g 11912 1067g 1023g 10434 10838 10712 10614 100 12 Ilg 10578 102 10212 10434 10414 106 100 1207g 10634 10214 1027g 10538 1047g 1063g 1001g 122 10534 102 10238 10114 1037g 104 9918 1213g 1065g 10214 10212 10214 10458 10514 1001g 122 10578 10634 10612 10712 1073g 10758 ---- ---- ---- ---- ---- ------- ---- ---- ---- - --- ---10114 102 1041 2 10,51g 10312 104 1035g 10334 1047g 10634 107 1077g 10534 10612 99 10134 10178 10312 10212 103 12112 12412 12418 12512 123 12312 10334 10612 10914 1057g 1043g 10318 10012 119 10434 1075g 10934 1075g 1057g 1047g 1013g 122 1045g 1071g 110 10712 1053g 1033s 10118 119 1051g 1085g 11114 1091g 107 1043s 10112 1207g 1023g 1051g 10758 1087g 1067g 10478 10014 120 10758 1025s 1061g 10814 10938 10734 1047g 1005g 12014 10712 10238 1045g 108 10834 106 10434 10058 1197g 1091g 10358 1051s 108 10758 1061g 104 10038 119 10912 10334 1061s 10934 1081g 10634 10434 10012 1203g 1879 . u. s. 6s of 1881, COUP-- -- 5-20s, 1867, COUP-----5-20s,1868 ,coup ______ 10-40s, COUP- - - - - - - - - 5s of 1881 , COUP----- -412~ 1891 , COUP------4 s, 1907, coup ________ Currency 6s, reg ______ I 1880 . 10438 1047g 10418 10434 1043g 105 105 10512 10514 1065g 10614 10718 ---- ---- ---- ---- ---- - -- - ---- ---- ---- ---- ---- -- -- ---- --..-- ---- ---- ---- ---- ---- ---- ---- ---- -- -- 1035g 1057s 1013-1 12258 10414 1061 2 1023g 124 10234 10214 103 10234 10312 106 14 1043g 10534 10514 1057g 102 10118 10234 10158 1023g 12314 - - - · --- - 123 123 102 1061g 10214 124 1023g 10714 1035g 125 1017g 105 1005g 12314 ---- 10212 1053g 103 12114 1033g 1063s 10414 122 .; u. s. 6s of 1881 , COUP---- 10418 1047g 10518 1055g 10514 1057g 10578 10614 10638 1071& 10658 10711, 1037g 10414 10412 10434 10412 10458 10434 1047g 10438 10478 1041g 10458 5 s of 1881, COUP------- 1033g 104 103 4 12s, 1891, COU P ----- -- 10638 10734 10778 4s, 1907 , cou p------ -- 103 10434 105 Currency 6s, re~--------- 126 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis --- - 10358 103 10914 10712 10714 10612 126 ---- 10312 1033g 104 10234 1033s 1031s 1035g 10812 10878 1091g 10878 1105g 1093s 10934 1073g 10658 10712 10718 109 10834 1097g ---- ---- ---- ---- ---- - --- ---- 1033s 10334 1025s 10234 10212 1023-t 10212 103 10934 1101s 11114 lll3s 109 11034 10814 11012 10818 1093g 10978 1101g 1083g 1105g 10714 10958 - --- ---- 128 128 ---- ---- ---- --·-- 1013g 11114 1097g 12912 102 1125g 11212 130 101 1115g 11112 134 10112 112 11358 134 64 U ITED STATES SECURITIES. U.S.OOVERNMENT SECURITIES. J anuary. Febtary. March. May. J u.iv . June . Auoust. S ept'ber. October. Nov 'ber . Dec'ber . Low Hioh Low Hioh Low Hioh Low Hioh Low HiOh Low Hioh Low HiOh Low Hioh Low Hioh Low H iOh Low HiOh Low HiOh - - - - - - -- - - -1-- - -- 1----1 1881. U. s. 6s of 1881, coup ____ 10112 10134 10134 10134 102 10214 1023s 10378 10334 10612 10278 104 10214 103 10112 1025s 10078 10112 1003s 10118 10114 10134 10038 10112 5s of 1881, COUP - - - - - __ 10112 10178 10038 101 10078 102 102 10278 10158 105 103 10414 10158 10234 101 10218 101 10112 9934 10218 10178 10212 102¾ 10312 412s , 1891 , COUP - - - - - - - 112 1125g 11134 11278 11118 11234 11258 114¾ 11434 11612 11478 1153s 11438 11478 11334 1145g 1127g 11358 113 113 1133g 11458 11334 11458 4 s, 1907, c oup _______ 11238 11312 1123g 114 Currenc y 6s, reg ______ 133 133 11278 11434 11312 11614 11618 11814 11758 1183g 11534 11714 11434 11658 116 11738 1151 2 11638 116 131 131 133 133 135 135 134 134 _ ____ ____ 1882. u. s. 6 s of 1881 ( a ) COUP -_ 10034 101 5 s of 1881 (a) c o up ____ 4 12s , 1891, coup __ _ ____ 4 s . 1907 , coup ________ Currency 6 s , r e g ______ O ptional 3 s , re g _______ (a) Continue d a t 3 12% . U, s. 1883 . 5s o f 1881 ( a ) COUP -_ 4 12s, 1891, coup _______ 4 s, 1907 , cou p ______ _ _ . O ptio n a l 3s, re g _______ C urr en c y 6s, r eg ______ ( a) Continued a t 3 12% - ~1 10218 10234 11438 11478 11114 11812 13 1 131 -- - ----- 102 11234 11 78 1031g 13112 104 11358 ll!/34 10412 13112 11712 11758 11858 129 130 10078 10178 11458 117 18 101 10212 11478 11818 10034 102 1135s 118 10112 1031s 11334 11958 10118 10178 11514 U83s 101¾ 103 11612 12134 10114 10138 100 10014 10114 102 10114 10214 1011s 10134 10034 10218 10118 10114 10058 1015s 10014 11512 11614 11418 11414 114 115 11458 11458 11278 113 113 1205s 12112 12018 12034 1185s 12058 11958 12014 11912 12014 11858 ___________________________________________ _ 10378 11314 11878 10334 10378 11378 120 10414 ____ 11212 119 1035g _ __ _ 11338 12012 10414 ____ 11318 1193g 103 ____ 11334 120 1033~ __ _ _ 113 119 10314 10014 10134 10134 10112 10338 1131 4 113 1131 8 ll278 11312 1191 2 11878 1191 2 120 121 _______________ _ __ _ _ - ----------- - -------- - -- ---- ____ ---- ____ -- - - _ _ __ ---- ____________ 10214 10214 10134 10238 10258 103 ____ 11338 119, 8 1035s _ _ __ 11238 119¾ 10312 ____ 113 120 104 __ __ 11238 11 12 103 ____ 113 11918 1033g ____ 11234 1187s 103 ____ ____ 11312 11214 114 11334 119¾ 11938 12114 120 10358 10112 1033g 10014 13212 135 13534 ____ 1147s 122 10012 13612 11412 12134 10014 136 115 12234 10038 1361~ _ ____ __ _ 11378 11478 123 12518 10034 102 l34 13412 1884. U S. 4 12s, 1891, coup ____ 11418 1147g 11438 11458 11314 1137s 113 11378 110 11358 11038 11158 112 11258 ________ 11178 1123s 1123s 11334 1137s 11412 11234 11378 4 s, 1907, coup ________ 12314 12414 1235s 12378 12334 1247s 12314 124 11 12 12314 11812 12034 11812 1205s 11958 12038 120 12118 11934 12178 12112 12234 12214 12334 O ption 3 s , r eg _ ______ 10078 1007s 101 101 101 101 10034 10114 100 10034 100 10034 100 10014 10018 10034 10034 101 10014 101 ________ 10112 10 112 C urrenc y 6 s , r e g ______ 13434 13434 13514 13514 ____ ____ ____ ____ _ ____________________ _ _ _ 1886. U. S 412s. 1 891, cou p ____ 11258 11278 11212 11278 112 1121s 11238 11234 11234 1131 4 4s, 1 907. cou p _ _______ 12112 12218 12134 1223g 12218 122as 121as 12214 12158 12214 Optional 3s, reg _______ 101 10112 10112 102 101 10112 101 10218 1025s 1031 4 Currency 6 s, reg______ 13614 13712 11214 12218 10314 13412 112a4 1231 2 10-112 135 11212 12238 10318 13314 11278 11234 1131 4 11218 1121 2 12278 12258 12318 12278 1231 2 1037s 10278 10314 10318 104 13338 134 134 11212 12258 10312 134 1131 2 11312 1131 2 11238 11273 124 12358 12:F8 1235s 12438 104 10234 104 10318 10412 134 133 133 1886. IL S, 41 2s, 1891 , coup ____ 11212 11234 1127s 114 11134 1125s 11212 11212 11238 11234 11138 11218 11134 11218 lllls 11178 4 • 1907, COUP - - - ----- 123 124 12418 1273s 12534 12712 1257g 12612 12534 12614 126 1273g 1257g 127 12512 127 Optional 3s, reg _______ 10034 10212 100¾ 101 10018 10112 10078 10134 10078 10112 1013g 10212 1005s 10034 1003g 1005a Currency 6s, reg ______ 13514 13514 1361a 1361s 135 135 10978 12618 10012 133 11212 11138 11212 11078 11112 11014 11034 12834 12734 129 127 12914 12814 1293g 10012 100 l00ls 10034 101 134 132 13212 1887 . U.S. 412s. 1891, cou p ____ 10934 11812 110 1101410878 4s, 1907. coup ___ _____ 12634 1281 2 12838 12 34 128 Cur. 6s, 1898. reg _____ 13212 13258 1345s 134"8 135 Cur 6s, 1899, reg_____ 13718 1371413612 1097s 12958 135 1361s 110 12834 13478 13712 1103s 11018 11078 10914 1093-110878 10914 108 12938 12834 129:,8 129 12912 12714 12818 12538 13478 13214 13214 131 132 128 13712 13718 13718 129 1103g 108 1083s 10814 10834 1083s 109 127 10858 12818 12412 12558 12412 1261 2 1263s 12634 12412 12634 128 ________ 127 127 ________ - - - ____ _ 129 I 1888 . U . S. 41 ~s. 1891, coup ____ 10112 1081 2 10712 108 10638 10634 10612 1077s 10734 10 ls 107 10718 10714 10714 10712 10734 10678 10678 1085s 10851, 10812 10938 10812 10834 4s, 1907, COUP - _ _ _____ 12514 12612 12534 1265s 1253g 12512 12334 1265g 12612 12718 12712 1281s 12714 1273g 12738 1285g 12812 130 12658 129 12714 12812 12818 12812 6 s, cur •• 1898 . reg _____ _ _____ __ 127 127 12778 1277s 127 127 12912 12912 13014 13014 6s,Curr.,1899,reg____ I _ _ 1889 . U. S. 41~s.189 1 . coup ____ 1031 2 109 109 4 s. 1 907, coup _ _ _ ____ _ 12614 12 14 12818 6 s, curr., 1898, r eg _ __ _ 12712 12712 ____ 6 s, curr. , 1899, reg _ ___ ---- 109 1287s ____ ---- 10734 1295s ____ ---- 10 11110 14 10814 1067a 10678 10634 10634 1067s 10G7t ________ 10534 1053-11051210512 10434 105 1297s 12834 129 12914 12912 12914 12951112818 12 12 128 1281s 12778 12814 127 12714 127 127 12718 12712 ____ 12558 1255s ---- 1890. U. S. 412s. 1891 , co up ____ 10434 105 104121043410312 10334 10312 10312 10234 1031s 103 103 ________ 10334 1033-1 ___ __ __ _ 104 104 4s, 1907 , co up _ _ _ ____ _ 125 12614 12318 12338 122 12318 122 12218 122 12214 122 12234 12112 124 12378 1237s 124 1261~ 12258 12414 123 124 122 6 s, c urr . , 1898, r e g ____ ---- ____________ ---- ____ ---- ---- 12434 12434 ___ _ ____ ____ ____ ____ ____ _ __ _ ___________ _ 115 12314 115 1891. U, 5. 412s .1891, COUP ---- _ _______ _ ___ - - - - - - - - ____ 102 102 ---- ---- ---- - - -- 10058 1005g 10034 10034 ---- ---- - -- - ---- - --- ---- - --- --- 4 s, 1907, COU P - ------- 12014 12112 l'.!l 121 12112 12112 122 122 ---- ---- ---- - - -- 117 11718 11634 11634 117 11812 il6 117 11614 117 11678 11814 6 s, cur r ., 1898, r eg ____ ---- ____ ------------ ___ _ -------- ________ ---- _ _ __ 118 118 _ ___ _ ___ ---- ____ _ __ _ ____________ - --- __ _ _ 1892. u. s. 4 s . 1907, COUP ----- 11612 4 s, 1907, reg __________ 116 6 s, c urr., 1898 . r e g ____ 116 6s , c urr .. 1899, re g ____ 11812 1171s 11634 117 11714 11712 1155g 11638 11612 11712 11738 11818 11614 1167g 116 11614 11478 115 11412 115 11458 11114 11612 11634116 1163a 1155s 11618 11534 11712 11614 11634 116 11634 116 116 ________ 1143g 11 5511 11414 116 ---- ---- ---- ---- ---- --- - ---- ---11812 ---- ---- ---- ____ ---- ---- ---- ---- ---- ---- ---_____________________ _ ___ ____ ______ _ 115 114 115 113 ---___ _ 1145g 11312 1893. u. s. 4 s . 1907. COUP ----- 113 114 11234 113 11212 11412 11234 1135a 11258 11234 110 11134 108 11 114 108 11212 11112 112 111 11112 11212 114 114 115 2s ,optional.reg_______ ---- ____ 96 9934 97 97 ---- ---95 14 95 14 - --- --- 4 s , 1907 , reg __________ 11338 11414 11134 113 11134 1121a 11234 11358 11212 113 110 11034 10812 ll lls 10734 llFa 110 11012 11034 1113g 112 11312 113 114 6s , currency , 1898 ----- ______ __ ---- ____ 11312 11312 ---- ---- ________________ 108 108 ___ _ _______ _ _______ __ ______ _ ____ - - -- -- -- u. s. .1894. 4 s. 1907. COUP ----- 11212 11334 11418 5s, 1904, coup ________________ 1173a 4s, 1907, reg __________ 11258 114 11312 Cherokee 4s, 1897----- ____ ____ 5 s, 1904, reg _ _ _____________ _ __ 1173s 6s, curre ncy, 1895 ----- ________ ---6 s , currency, 1896 ----- ____________ 6s, currency, 1898 -- - -- ---- ____ ---- u. s. 11418 114 115 11412 11434 114 11414 11414 115 11334 11112 11738 11112 118 11912 11734~11 14 11758 11814 11818 114 11278 11334 11312 11414 1131 2 114 1125a 1133s 11314 104 117:lis 11712 11712 ---- ____________ 11778 11838 118 ____ ---- ---- ---- ---- ---- ---- ---- ---- ------- ---- ---- -- - - ---- ---- ---- ---- ---- --- - 115 11914 11418 104 11812 ---____ 114 115 115 115 11112 119 119 11934 11358 11418 114 114 _______ _ 118 118 10112 10112 ---- - - ----- ---- ---- - --- 11414 115 114¾ 116 11434 116 1193s 120 11112 1191 8 11714 11912 11418 114lr 11412 115s8 11312 11413 11934 11934 119 119 11714 119 - - - - ---- ---- ---- ---- -- ---- - _ ___ 106 106 --- - - --____ ---- ---- ---- ---- ___ _ ____ ---- ---- ---- ---- - --- ---- ---- - - -- -- - - ____ 11 114 11114 1895. 4s. 1907. COUP- ---- 11234 11312 110 113 11234 11278 112 1123g 11212 11338 11312 1135s 11212 113 11258 11258 11212 113 4s , 1925 , COUP - - - - - - - - ---- ---- 11814 1193g 119 12012 12012 12112 12012 12358 1235s 1237s 12314 12418 12134 12214 12 112 12314 5s, 1904, COUP - - - - - - - - 1155g 11714 1143g 11614 1153g 116 11518 11612 1153g 11614 11618 11634 11634 11634 11518 1153g 11512 116 4s, 1907 , reg __________ 11214 11312 110 113 11034 111¾ 11112 11134 11134 11218 11178 11214 112 11212 11214 11212 11134 11134 4s, 1925 , reg ______________ ____ ________ 12012 12034 12034 12034 12058 12112 _____________________________ _ __ 5s , 1904, reg _____ _____ 11438 111 14 11434 11618 11578 116 11478 116 ________ 11634 11634 1155a 11678 115 11538 ___ _ ____ 2s, optional,reg _______ ________________ ---- ---- - - -- ---- 9612 9612 ---- ---- 97 97 ---- ---- ---- ---Gs , currency, 1896 _____ 10234 10234 ________________________________________ ---- ____________ ---- - - -6s , currency, 1898 _____________ 10834 10834 ________ 10812 10812 lOl} 109 ____ - ___ - - - _____ _ _______ - - - _ - - - 6s, currenc y, 1899 - - --- ________________ ---- - - -- --- - ---- ---- ---- ---- ---- ---- - - -- 109 109 ---- ---- 11134 [2238 11534 11134 ___ _ ll458 - --10218 --- _ --- - 112 123 11612 1121f ____ 116 --- 1021s ____ ---- 112 12058 11434 11158 12034 l1478 - --- -----_ ---- 11214 12112 1_1514 ll Fs 1207£ 115 - - -------. ---- 1896. U s. 4 s , 1907, COUP - ____ 4 s. 1925, COUP ---- - --- 5 , 1904 , COUP - - - - - - - 2s, optional, regis _____ 4 , 1907 , registere d ____ 4s. 1925, registered ____ 5s, 1904. registered ____ 6s, currency, 1897 _____ 6s, currency, 1898 __ ___ 8s, currency, 1899 _____ 109 110 11514 117 113 114 10812 111 113 118 112 114 11014 lllls 10918 10978 10978 11014 10912 11014 11638 11714 11634 119 1163g 1177g 11638 11814 113 11312 11312 11418 11258 113 11234 11314 __________________ __ ____ ________________ 95 95 10 110 108 11014 10 14 10 12 10 3g 109 10 34 10914 10 10 '8 11412 11412 113 11734 11612 11738 117 118 11612 1175s 11614 11818 112 11312 112 11312 113 113 11334 11334 1127s 1121s 11234 113 ________ ________ 10314 10314 ____ - - -- ____ ---- ---- ---________ 105 105 _ _ _ _____________________________ ________________ 1071:? 107l2 ---- ---- ---- ---- ---- ---- 10712 10918 106 10734 11234 11634 11114 11312 11034 113 10812 109 94 94 106 10812 10434 10612 1127s 11634 11134 11312 11034 11234 10834 10918 - --- ---- ---- ---103 103 ________ 105 105 ---- ---- 1063g 11358 10914 91 10534 11334 110 ---103 ---- 10778 1173g 11 112 91 10612 11612 11014 ---103 ---- 1897. u. s. 4s, 1907 , coupon ___ 1113g 11212 11218 1131-1 113 11312 112 11234 112 1125g 1125s 1131-1 1117s 1123g 112 4 , 1925, COUP-------- 12018 124 12218 1231g 123 12334 1235g 12412 12212 1231-t 12334 1253g 1247g 12634 125 5s, 1904, coup __ _ ____ _ 11414 1143s 1133s 11318 1137s 11414 1141s 11438 113 11312 114 11434 11412 115 11314 2 iio:;s ii15s iii1; iii- iii- iii3s 1I07s iii1; iio3~ ii1- li103s iii1; iii:;s iii- 1ir 4s, 1925. registered - _ __ 1201 4 1221 2 122a8 122;;s 12314 123:;s 123 1231 1223-1 12314 12518 12518 12418 12534 12512 5s, 1904. registered __ _ _ 1131 4 11334 1133-1 1133-1 11378 11414 11314 11314 113 11314 ________ 1135s 114"8 11312 21 _ _ ---- ,- --- ____ ---- - --- , -- - Gs, currency. 1898- - - -- 103111 1031-1103121031 2 _ _________________ 6 • currency, 1899- ---- __ __ ____ 10612 1065s ________ 107121073-1 _ _____________ _ _ ::: fcJ~~~!'ii~;:j:(c== https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 10612 10814 10914 11012 115 11812 11812 1203g 11012 11112 111 11312 96 96 10578 10734 10812 11012 11512 11612 11934 120 1103g 1103s 11114 11234 ---- ---- - --- ------- ---- ---- ----- - - ---- ---- ---- 112 11212 119 12 Fl3 112 115 110 11112 11712 11712 1131211513 ---- --- ---- --- ---- ------- - - - 110 12 119 11338 9512 109 120 1133g ---------- 11212 120 38 114 96 11012 1203g 114 -- ----- -- - ) 11212 11314 114 12534 125 126 1137s 1137s 115 11312 114 11334 11418 115 115 126 12814 12758 12812 1285g 12912 115 1157s 114 11478 11438 115 1i~~; 1i~!: 1i~:: 112 11278 11234 11318 11218 l2/i34 12Gls 12618 1271s 1271g 12714 12714 127 78 1137s 1141-1 1141-1 11314 nr; 11412 --- 10234 1023.1 9934 113 129 11412 99 34 UNITED STATES SECURITIES. 65 (" Januar11. Februar11. U. S. GOVERNMENT SECU RITIES. March. April. Ma11. June . July. Auoust. September October. November. December. 1 - - - - - 1 - - - - - 1 - - - - - 1 - - - - - 1 - - - - _ _ _ _ ,_ _ _ _ _ , _ _ _ _ _ , Low HiOh Low HiOh Low HiOh Low HiOh Low Hioh Low HiOh Low HiOh Low HiOh Low HiOh Low HiOh Low HiOh Low Htoh 1898 . U.S. 3s, 1918, coupon ________________________________ ___________________ 104 10412 10412 10512 10434 10512 1061s 1061s 10514 106 1057s 10734 3s, 1918, small coup ________________________________ _________________________ __ 4s 1907, coupon------- 1135g 1145g 113 11434 110 113 107 111 108 11114 110 11114 11034 11114 4s, 1925, coupon ______ 12812 12934 1235g 12834 11812 1253g 11734 12214 120 12314 122 125 125 12812 5s, 1904, coupon ______ 114 115 11312 11334 11014 11212 11012 1117g 10934 Ill Ill 11112 1125s 11314 2s, 3s, 4s. 4s, 5s, 6s, 10434 10512 Ill 112 12634 12734 ________ optional, regis _____________________ 9812 9812 98 98 ---- ____________________________ 1918, registered ________________ ________________________________ ____________ 105 105 1907, registered - - - - 1123g 1131g 11178 11312 10834 111 106 10912 10634 109 10734 10912 11014 Ill Ill 11112 1925, registered - ___ 12112 12912 12612 12834 11812 125 11634 12112 1217g 12214 12412 12412 124 124 12112 1281s 1904, registered ____ 11312 115 ________ 11134 11134 11112 11112 10934 11014 ________________ 112 112 1899. registered ____ 104 104 10312 10312 103 103 1027s 1027g ________________________ 10214 10214 10412 10514 10438 11112 112 11058 127 1275g 127 1121s 11214 11238 ---- ________ 10514 1053g 10412 11012 11012 11012 127 1273g 12634 11212 1125g 11234 ___ _____ 10212 106 112 12814 11314 ---1055g Ill 12714 11234 10212 105 106 10512 1071s 11134 1125g 11212 11312 12634 1275s 12712 12914 112 11212 11212 113 985g 985g 9912 9912 10514 1057s 1061g 10712 111 11134 llllg 112 1271g 12112 12112 12834 1117s 1121g 1125g 11258 _______________ _ 1899. U, S 3s, 1918, coupon--- 1071g 108 3s, 4 s, 4s, 5s, 1918, 1907, 1925, 1904, small coup --coupon-----coupon ______ coupon------ 2s, optional,regis _____ 3s, 1918, registered---4s , 1907, registered- ___ 4s, 1925, registered ____ 6s, 1904, registered---- 10634 10612 11238 12 1117s 99 10634 11214 128 _____ __ _ 11134 10612 11212 129 11234 9912 10612 1117g 1285g 10712 113 1295g 11314 997g 1075g 1123g 129 1073g 107 11314 129 112 99 10714 1125g 12853 11134 107 10814 10612 1075g 112 114 1283s 1291 2 11134 1125g _ _ ______ 107 1081g 111 1121g 12834 12834 112 112 1900. U.S. cons. 2s, 1930, coup. ____ __ ___ _______ 104 105 1077g 109 1075g 10912 10812 10912 10834 1093g 1073g 109 10714 10 5g 108 10914 10812 10912 11212 11334 1123s 11414 1135s 11412 1125g 11312 1293s 13012 129 1303g 13012 131 12912 13012 113 11312 11134 1127g 113 113 1125s 1125g _ _________ _ __ __ _______ _ _ 1011210112 10714 IO lg 10 ta 10834 10812 10934 10 12 10812 1123g 11234 1121s 113 11214 114 11214 1125g 12912 12912 12912 1303g ________ 13014 13014 112 11312 1125s 1125g ________________ 10314 10412 1031g 104 1081g 10834 10814 10834 1081g 10812 10758 1095g 108 10814 108 1087g 1073s 108 108 1095g 11314 11334 113 11334 112 11212 1125g 1133s 1301g 13012 130 13012 130 13012 12914 1325g 11112 11112 112 112 1113s 112 11012 1113g ______________ _ _________ 101 101 10812 10834 1083s 10 7g 10714 1075g 108 108 11214 11214 Illig 11112 11114 1115s 112 11312 ______________ _ _ l'.!91g 12934 12934 1325g 11112 11112 1117g 112 11012 11012 111 111 ___ _ ______ _ ___________ _ _ ---- __ _ _ 104 104 109 10912 11314 13312 11112 102 10934 1125s 13234 11212 11034 11014 11512 13412 11312 102 11034 115 13414 11314 ---- ____ 10434 105 3s, 1908-18, coupon- - - - 110 11034 10914 11134 10934 11214 110 11034 109 110 109 10912 10912 11012 1083-1 10912 10912 11012 10912 11012 10912 11012 10934 112 3s, 1908-18,small, coup, 10912 11012 109 Ill 10912 11134 109 1093-110812 1091210812109 ___ _____ _ ____ __ _ 10934 10934 - --- -- - - 109 1103s 109 14 110 4s, 1907, coupon ______ 114 11434 11434 11 11434 11812 1141g 11512 114 11614 115ls 1155g 1145s 116 1151g 116 1153g 116 11412 115 11514 11614 11512 11634 4 s, 1925, coupon ______ 5 s, 1904, coupon ______ 2s, optional,regis----Cons. 2s, 1930, regis--- 3 s, 4s, 4s, 5s, 1908-18,regis - ----1907, registered---1925. registered- __ 1904, registered---- 1333-1 13414 13418 1347g 1131 4 1135s 114 1155s ---- -- -- -- - - __ _ _ ___ ________ _____ 10914 1097g 11114 112 114 11434 11412 11514 1331g 1331s 13414 135 1123g 1123g 11234 11312 134 137511 l'.)3 13414 13412 135 1343s 135 134 13414 13134 13414 134 1341s 11434 1163.1 1131211412 11212 114 1131s 11312 114 114 1131g 11314 11312 11334 _ _______ 1001410012 ---- __ __ ---- -- -- --- - ---- - --- - - -- ---- -- -___ _____ _ __ _ __ ______ _____ _ _ ___ ______________ __ ___ __ __ ___ 11114112 10834 109 1083410912 _ _____ _ _ 1091g 110 1091210912 11014 1101:i 115 11712 114 115 11412 11614 11414 11412 11412 116 11512 11512 1141:i 11434 13412 13712 1325s 133 13412 1345g 13414 13418 1331g 13318 _ _______ 13414 1341 4 11534 11612 11212 1125s 1125s 1141g 11312 11312 11334 11334 _ ______ _ 11314 114 --- - -- - 1137s 1141g --- - ---104 104 10912 10934 1147g 115 __ _ ___ _ _ 1125g 11334 13412 11234 - - -10434 10934 115 137 113 1385s 114 ---105 10934 116 138 113 138 113 ---10438 10934 11412 1381g 115 1381s 11334 ---107 1101s 1163-1 139 115 1901. U, S. cons. 2s, 1930, coup. Cons. 2s, 1930, sm, cou 3 s, 1908-1918, coupon-_ 3s, 1908-18, small coup . 4s , 1907, coupon ______ 4s, 1925, coupon ______ 5s, 1904, coupon ______ Con s . 2s, 1930, regis--3s, 1908-18,regis-----4s, 1907, registered ____ 4s, 1925, registered---5s, 1904, registered---- 10514 10534 11012 110 114 13812 110 10512 10912 114 13712 106 10534 111 110 11412 13812 11312 10512 11012 11412 138 10514 1057s 1063s 1063s 10614 10G7g __ ____ __ _ _ _ _____ ___ _ __ __ 11012 11112 11034 112 11114 112 1101 2 11034 111 112 111 111 11334 114 114 11514 114 114 _ __ _ ____ 13734 13814 1381:i 1395s 11034 11034 11134 1113.1 11114 1121 4 10512 106 10534 10614 106 10612 11034 1107s 111 Ill¾ __ __ _ ___ 11334 11414 113 113 11314 11312 ________ 1377g 1377s _ _____ __ ____ ---- ________ 1117g 1117s ---- ---- 10612 10634 10678 10314 10714 10758 ________ 1085s 10858 __ _ _____ __________ ____ _____ __ _ _ __ _________ _ __ ______ ___ _ _ 1093s 11012 10834 1091 2 10812 10834 1031 4 10834 1083g 1083g 10812 10812 _______ _ 1081 2 10812 ________ 10834 10834 _ _______ 10634 108 ___ _ _ ___ 1135g 1135g 1121 2 113 113 1131 2 1131 4 11314 112 11234 13814 1383~ 1385g 1391 4 13812 13 12 1367g 13712 137 1391 4 13912 13912 10914 110 _ _____ __ 10912 1091 2 _________ _ _ __ ___ 10 108 _ _ _ _ ____ 1063-110634 ___ _ __ _ ____ _ _ _ ___ ______ _ 109 1091g 109 1091 2 109 109 ___ _ _ _ __ 108 10 34 ---- -- -- 107 12 10112 1131 1 1135g 1121:i 11234 11234 11314 ___ _ _ __ __ ______ _ 11134 1121s 13812 13812 ____ __ _ _ 139 139 137 137 - --- ---- -- - - ---110 110 ---- ____ ---- ---- ------ - ---- -- -- 10914 10914 10912 10912 __ _____________ _ 10812 10812 10812 109 108 108 108 108 11214 11214 113 113 ___ _____ 1393s 13978 __ ______ 107 14 10114 _ _______ 10834 1087s --- - ---- --- - - - - 112 11212 111ss llFs 139 14 139 14 - --- ---- --- ---- ---- ---- 1902. U.S. cons. 2s, 1930, coup. 10812 10812 ______ _ _ 1095g 1095s 10912 10912 10938 1093s __ ____ __ 10734 10734 _ ______ _ - --- __ __ - - - - -- -- 10 34 10834 - --- ---3s, 1908-18, coupon- ___ 1087s 10912 3s, 1908-18, small, coup __ __ ____ 4s, 1907, coupon ______ 1111s 112 4s, 1925, coupon ____________ __ 5s, 1904, coupon __________ ____ Cons. 2s, 1930, regis-- - ____ --- 3 s, 1908-18, regis - ___ - - ________ 3s, 1908-18, small, regis ____ -- - 4s , 1907, registered - - - - 112 112 4s, 1925, registered ____ 139 139 5s, 1904, registered---- ________ 1087s 109 109 110 10814 108 14 109 109 1121g 1121 8 11214 113 ---- 10912 10912 111 _____ _______ 13934 10614 10614 _____ _ _ ____ _ - --- __ ____ ______ 10912 _______ _ __ ______ 109 - --- __ _____ _ 112 1121:i 1111:i 13912 13912 ___ _ ---- ____ 10612 1095s 108 10 12 107 10112 1067s 1067g 10534 107 10712 10834 10912 __ _ _ _ ___ __ _ ___ _ _ ___ _ ____ 1063s 1063g ___ _ ____ I115g 1105g 11114 1101 2 111 103a4 1091 4 __ _ _ ___ _ 11114 11112 1393 _______ __ _ _ ____ __________________ __ ___ __ 4 _____ _____ __ _______ _ 1061 2 1051 2 104 104 _ __ ___ __ 1097s _ ______ __ __ ___ __ - --- ---- 1083-110834 - - -- ---1091g __ _ _ _ __ _ 10712 10712 ___ _ _ __ _ 1057s 1067g 107 107 ____ ---- ______ __ _____ _____ __ 107 107 ---- -- - - - --- ---11112 11114 11114 1105s 11114 10912 10912 10 14 1095g 10812 10812 10734 1101:i _ _ ____ _____ _ __ __ __ __ 13514 136 132 13214 _ _____ __ 137 137 10612 10514 10514 10512 10512 ________ _ _______ _ _______ 10514 10514 108 109 10 108 14 10614 108 14 - --- ---11034 11114 --- - -- -13734 13734 13612 13612 10514 1051 2 1037s 105 - - -- ---- - - -- - -- 1075g 1075s 10814 10814 --- - ---- --- - ---111 11112 1095g 111 ________ _ ____ __ _ _______ ___ ______ 108 108 10734 10734 - --- ---_ ______ _ _ _ _ ____ _ - --- ---10734 10734 - - -- - --10812 10912 13512 13512 10334 10334 10634 10838 1093g 11034 13514 ---1065g 10112 11012 13514 ---- 106 1s 1061s 107 108 ---- ---11014 1105s ---- ------- ---_ - - __ - - _ _______ _ 109 10912 - --- --- ---- ---- 1903. U S. cons. 2s, 1930, coup. ________ 10712 10712 ________ ________ 10514 10514 106 10614 10634 10634 _ _______ 10834 10834 3 s, 1908-18, COUPOn- ___ 10778 10834 10718 10714 10 14 109 10714 10834 10714 10712 108 108 10712 109 10612 10612 10814 1091g 3 s, 1908-18 small, coup ______ __ 1071s 1071g ___ _____ 10812 1081210714 10714 _ _______ ___ _ ___ _ 10612 10612 ______ __ 4s , 1907, coupon ______ 10934 11014 ________ 10914 111 11012 112 11034 11112 ________ 111 Illig 10912 110 11134 11134 4s, 1925, coupon ______________ 136 136 137 13712 ____________ _______ ___ ___ _ _ _____ ______ ________ _ _ 5s, 1904, coupon------ - -- - ---- 103 10314 10314 1033g ---- ---- 10314 10314 10314 10314 --- - - - - - 10138 10112 - --- --- Cons, 2s, 1930 , regis- - - _____ - _- - - ______ ___ _____ ____ ___ _ 106 1061g 106 106 10678 1067g 1067s 1067g 10912 10912 3 s, 1908-18,regis------ _______ __ _____ __ 107 107 10734 10812 1011 4 10114 10734 108 10734 108 10634 10634 _ __ ___ __ 4 s, 1907, registered ____ 10912 11012 10934 10934 109 11012 11034 11114 11034 111 110 110 111 111 _ ______ _ 109 110 4 s . 1925, regi stered ____ ________ 1351s 13518 135 13534 1351g 13514 1357s 13612 13514 13514 13414 13414 _ _______ 135 1351s 5s , 1904, registered---- ________ ---- ___ _ ___ ___ __________________________ ---- ---- 10112 10112 10112 10112 10734 110 10938 Ill 13514 -- - 10634 10914 112 13514 ---- 1063s 107 12 10712 ---13414 101 14 1063g 1077g 11214 13334 ---- 10638 10812 10712 ---13412 10114 10634 1077g 11214 13414 ---- 1904. U.S. cons. 2s, 1930, coup 10514 1055g ____ ---· 10534 10614 _______________ __ _________ _ ____ __ ______ __ _______________ 10412 10412 105 3 s, 1908-18, COUPOR - - - 3 s, 1908-18, small, coup. 4s. 1907, coupon ______ 4s, 1925, coupon ______ Philippine g 4s, '14-34,cou U.S. Cons. 2s, 1930 , regis 3 s, 1908-18, registered _ 4s, 1907 , ret.tistered -- -4s, 1'926, registered---- 10712 108 10634 10714 - - - ___ _ _ 107 10714 10534 10634 106 10612 10614 10614 10514 10514 10558 1055g 105 1047s 10512 105 1055s 10714 10114 1063g 10634 _ _ _ _____________ 13212 133 _ _______ 13112 13112 __ _ ___ __ ________ ___ ____ _ __ _ __ _ _ _ 11014 11014 ____ __ __ 1051g 1051g 10514 10514 ---- --- _ _ _ _____ 10434 10434 1045g 105 ---- ---10614 10631< 1063s 1063g ___ _____ - --- --- _____________________ ___ 1317s 1317s 105 10534 _ _______ 1065s 1065g ________ 111 111 ---- ------- ------- ------- -- -- 10434 ___ _ 1041:i 1307s ---------------- 105 _ ___ 10612 1307g ---------------- 105 105 10412 107 131 10412 10412 10612 1307g 110 ------------- --------- ---- U.S. cons. 2s, 1930, coup. ________________ 10914 105¾ 10434 1047g _______ _ 10412 10412 _____________ __ ___________ _ _____________ 10314 10314 ________ 1011s 1071g 10614 10634 ________ 10534 10534 _ ______ _ 105 1011:i 10112 107 10112 108 108 134 134 13234 13234 133 133 ________________ 11134 11134 10512 10714 ________ 10512 10512 ____ ---- ________ 10634 10634 ________ 1073g 1073s 1063410712 108 108 107 107Ig _ _______________ ______________ __ 10512 106 105 1051g ~--- ____ 1055g 10534 10814 10814 10614 107 ____________________ ____ 1327s 1327s 1323s 1323g 110 1905. 3s, 1908-18, COUPOn ---10512 104 104 105 106 106 104 1047g 104 10414 104 1043g ____ ---- 10334 10414 10378 10434 - - -- ---- 10234 104 3s, 1908-18, small.coup 1045g ______________ __ 10412 ___ ___ __ __ _____________ _ ________ __ ___ ___ ________ ________ 1041:i 10412 1037s 1037g _______ _ 4s. 1907, coupon ______ 1051s 1057g 10412 10412 10534 10534 10434 10514 _____ _ _ ___ _____ _ 104 10414 1041g 1041g 1047s 105 10438 10514 1051g 1053g 10312 1037s 4s. 1925, coupon ____________________ __ 133 133 Philip. gold4s, '14-34 cou 1091g 1091g ________ llO 110 U. S cons 2s, 1930. regis ________________ 10434 10434 3 s, 1908-18, registered _______ _ _ 10412 10412 __ _ _____ 4s, 1907, registered ____ 10512 10512 ______ ______ _ ___ 4s, 1925, registered---- ________ ---- ____ 1321:i 1321? _ _______ 13214 13214 _ _______ 10914 10914 1045g 1047g 1041 2 I047g 10434 10434 104 104 10412 10412 _______ _ _ _______________ 133 133 109 109 __ ____ __ 10334 104 104 104 13212 1327~ _______ _ 13338 1333s 13412 1341:i 13412 13412 _ __ ____ _ ________________ 10812 10812 1037g 10318 ________ 10414 10414 10312 10312 10312 10412 ________________ 103 1045s _ ______ _ ________________ 105 1051s ________________________________ 13234 13338 ________ ________ 10312 1037g 10434 1053g 1325s 1333s 10312 10312 103 10314 1035s 10414 1295g 1295s _ _ ______ 10314 10312 10334 10334 _______ _ _______ _ __ _ _____ 1025g 1025g 10234 1027s 12934 12934 _ _ _ _ - - -1035s 10412 ________ ________ _______ _ 10412 ---102 13034 - - -104 ------ 1307s ____ 13014 13034 11012 11012 _______ _ ---- ---1027s 10314 13034 1317s 1906. U.S. cons. 2s.1930, coup. 103'g 10314 103 3 s, 1908-18, COUPOD - ___ 4s, 1907, coupon ______ 4s, 1925, coupon ______ Philip.gold 4s, '14-34,coup U.S. cons. 2s, 1930, regis. 3s, 1908-18,registered4s, 1907, registered---4s, 1925. registered ____ Pao, Can 2s, 1936, regis. 1035g 10412 10412 1035s 1037g 10258 10318 1031g 10434 104 1043g ______ _ _ 10334 1047g 1033g 10334 12934 13014 _______ _ 131 13214 10834 10834 __________ _ __ ___ __________ _ _____ 1037g 1037s ______________ _____ _ ____ 103 1037s 103 103 10314 10314 10334 10334 1035s 1035g ________ 1297s 1297g ________ ________ _ ______ _ 10234 10314 10314 1031 2 1291 2 131 111 111 10312 10312 10234 10234 10312 10312 129 129 104:;g 1047g 10312 104 10314 1035s 1293s 13112 __ _ ___ _ _ ___ _ ____ 10312 10312 1033s 10338 13014 13112 ______ __ 10312 1037g _______ _ _______ _ - --- - - -10512 10512 - --- - - - 103 103 131 13llg 10412 10312 10214 13014 ---- --- --102 - -- ________ ---- ____________________________ _______ _ __ _____ _ ________ _______ _ 1051g 1031g 10314 130 10912 1031g 104 10312 13112 10912 1031s 10412 10312 10212 13112 -------- -10214 -- -1051g 10412 ---102 1g 13034 ---104 ------1307s ---- 104 103 3g 1017g 13012 ---- 10514 10338 102 13034 ---- - --10034 --- ---- ---10034 ------- 1907, U.S. cons. 2s, 1930, 1.oup. ________ 106 106 10614 10614 10412 10412 1041s 105 1051g 1051s 10534 1053.1 1051s 10534 ---- -- -- 10414 10534 --3s, 1908-,18, coupon- - - 4s, 1907, coupon-----4s, 1925, Coupon - ----Cons. 2s, 1930, regis--3s, 1908-,18, registered4s, 1907, Tegistered - --4s,_1925, regi-stered---- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1027g 1031s 1023s 1033g 10312 10334 1001s 1001s ________ 1017s lOFs 12912 12912 12914 12912 13012 13012 ________ 105¾ 10538 ________ 1033-1 104 1021g 10214 1021g 10318 10314 10314 __ _ _ _ __ _ 102 10314 10212 1015g 1015s 10112 1015s 1007s 1001g ____ ---- ________ ---- --- - ---1305g 1305g 12934 12934 ---- ____ ---- ---- 127 127 12512 12512 12434 1041s 10434 ______________________ __________ 105-3g 10512 105 ____ ____________ ________ 10234 1023410212 10212 _______ _ 10212 1027s ________________ 102 1007s 1007g 10112 10112 1005g 1005g ____ ---- 10112 10112 1007s 1007g _____________________ ____ ___ 129 129 1291g 129lg ll3034 13034 ________ 130, 130 1287s 1287g ________________ 12514 12614 11912 1025s --- 12434 10558 103 ---125 ---- ---- ---10014 10234 10012 102 -- -- . ---- ---- ---119 124 117 120 10414 109 10434 10434 101 10212 ____ ---____ ---- ---- ---____________ c---- U ITED STATES 66 U.S. OOVER.NMENT SECUR.ITIES. ECURITIES. I I January February March AprU May June July Auow.t September October November December Low High Low Ht(lh Low Ht,gh Low High Low Htqh Low High Low High Low Htqh Low Ht~h Low H .oh Low Htqh Low High _u___s___c_o_n_s__-2-s1-.9-1°_9_3_8_o___c_o_u_p______ ,,_1_0_4l_g,_1_04-l~ ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- 104 104 ---- ---- ---- ---- ---- ____ I____ ----1---- ---- 3s, 1908=18, coupon------ 10114 10114 101 10134 101 10158 10112102 101141013g ________ 1003410084 1008410084 -- -- ---- ---- ---- ---- ____ 10084 l007a 3s, 1908=18, small, COUP- -- --- - ---- 1011210112 ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- 1001410014 ---- ---- :t m~: ~~~~~a-n.-,coii::: ==~~41_~1-3~ :::_ 1_2_2}: m!; m~~ ==~- 1_2_3~~ ==== ==== :::~81_2_2~~ ==== ==== ==== ==== :::~21_2_2}~ ==== ===i::_ 1-~~ - ==== ==== Cons. 2s, 1930, regis- _____ 1041 8 1041 2 104 104 104 1041 2 10334 104 1031 2 10334 10334 10334 1035s 104 10334 10334 104 104 10312 10312 10312 10312 1-- - - - - -3s, 1908=18, registered ____________ 1011 1011 1011 1011 ________________________ 100 10012 1017s 1017s 1011s 1011s -------1 101 101 4s, 1925, registered _______ 1181 2 1181 2 119 4 119 4 1201 42 122144 ________________________ 122 122 1211212112 121 121 1205g 12osa 1205s 121 ---- ---- ----1---1 DEALINGS IN FOREIGN GOVER MENT SECURITIES AT NEW YORK STOCK EXCHANGE. BO DS. 1904 Imperial Japanese Gov'tSterling loan 1911- - - - - - -6 2d series 1911-- ------- 6 BeKublic Cuba 1904 loan---5 Mexico 1899 loan- - - - - -5 Oold debt of 1904--------4 1905 lm/t~~\f!,lfg;;\S:1f_~~•!= -6 2d series 1911- -------- 6 Sterling loan 1925-----4½ 2d series 1925 ------- 4 ½ Begublic Cuba 1904 loan ----5 Mexico 1899 loan- - - - - -5 Gold debt of 1904--------4 AprU May March June July September January Felmw.ry Auuusz Oczober November December Low Htgh Low Htr;h Low High Low Hi{Jh Low Hi{Jh Low Htgh Low Htgh Low Htgh Low Htgh Low Htgh Low Htgh Low Htg ---- ---- -- - - - - - - - ---- ---- ---- - - - - ---- - - - - ----- - - - -h 933 ---- ---- ---- --·- ---- ---- - --- -- -- -- -- ---- 9234 9358 9212 935s 931g 941g 937s 95 89 9512 897s 9234 9112 90 8934 ---- ---- ---- ---- ---- ---- ---- -- -- ---- -9814 -993~ -993s 1oi1~ ioois 1-0112 -991 1023~ iii2aa 1O21s iii2i21O312 1023g 103 8 - -- - -- -- - --- 1-0-0-12 ------- -- -- ---- ---- ------- ---- 9712 9712 ---- -- -- --- - ---- ---- ---- ---- -- ----- ---- ---- 983s 983g 9812 9812 99 ---- ---- ---- ---- ---- - --- --- - ---- - - -- --- - --- - ---- ---- ---- - --- - --- -- -- -- -- ---- ---- - --- ---- -9334 -94119412 991s 9814102 901g 9614 941g 100 101 99 10312 9712 10312 9712 1021g 10014 10134 1003g 102 10114 95 14 98 947s 9912 981g 9!l12 985g 100 8612 8814 86 9084 897s 931s 911s 93 io314 10512 iii65s 108100 10014 1001g 10084 9334 9412 943g 9418 100 102 9914 101 8812 9234 885g 917g iii412 1-0538 iii4121O512 iiisi21oi- 10612 1071g 107 10814 io434 10012 !Olis 1001g 10014 10014100¾ 10014 1007g 9912100 100 10084 94 92 9514 9514 96 9334 9314 937g 9312 94¾ 9434 95 1003g 10212 10014 10134 901 8 9218 90 915g 105 10534 10058 10014 941g 9434 985g 10212 9734 102 901s 9178 901g 921g 1051410534 100 100 94 9412 9912 98 9714 9918 91 931g 9114 931g 104 1055g 100 10012 937g 95 100 92 9878 10018 981g 100 9234 951g 911g 9312 87 88 10534 108 9912100 923g 95 100 10012 997g 1003g 9012 95 8912 9134 87 88 106 10712 997g 10012 94 9434 1001g 10112 100 10114 9012 9212 895g 915g 8434 87 10334105 10114 10112 937g 9434 9634 10112 971410114 9112 931g 9084 9214 83 12 86 14 1043g 105 9912 100-'.lg 9414 9512 973s 100 97 14 993g 913g 941g 9014 93 14 83 14 86 10314 10512 9914 9934 9414 96 9914 9934 98 14 99 9334 943g 927g 93 5s 8412 857g 10514 106 10012 101 945g 94 991g 10014 9812 997g 9412 94 905g 9312 82 83 10514106 983410012 9414 945g 995g 1005g 9914100 9114 945g 905g 917g 8212 83 12 104 10612 99 991s 94 9412 100 1011g 9934 10012 9212 91 897s 91 8214 83 14 10112103 983s 9834 9312 9412 97 10084 97 10014 9114 9214 895g 9012 82 83 103 10412 98 98 9334 9412 967s 97 78 967g 9758 9114 93 895g 92111 82 843g 103 10412 975g 98 9412 953g 9612 973 9614 97 923 91 9084 921 843 83 10134103 98 99 9314 931 9634 9934 967g 9912 915g 943g 9018 927s 8214 8514 1015g 10312 963g 99 9312 94 9812 995s 98 995s 8914 941s 8814 911s 8212 8434 103 10334 9812 9934 99 9934 8734 9012 8712 89¾ 837s 79 983410112 99 99 9212 94 9712100/lg 97121003g 8812 9112 8734 9112 805g 8334 9934 102 9812 9834 95 93 9814 99 9814 987s 9114 925g 921g 91 8312 8434 102 10218 9712 983g 945g 94 987s 987g 91 9014 82 102 98 92 9912 99 993g 99 90 915g 867g 91 79 813g 10234 10314 98 98 92 9212 9914 9934 993g 995s 90 86 8412 8634 757s 79 1023410314 9712 9712 9112 9278 9934 997g 995g 9934 867g 893g 86 8834 79 8012 10014101 97 97 9112 92 ---- ---- ---- 86 9084 837g 89 75 80 102 104 96 9834 9012 9414 91 85 841g 873g 775g 80 1023410334 9812 9912 9314 9412 8514 8714 85 8612 8412 8634 851g 8614 77 78 ' 7658 773g 1001410114 101 10214 9814 991g 975g 9814 94 93 9312 93 853s 8 14 855s 8 767g 7912 1021210314 9812 9834 93 9334 885g 8934 88¾ 93s 795g 8114 10314104 99 9912 92 93 9014 9112 8914 9012 801g 81 10214 10312 99 101 9334 9414 89 907s 8712 8912 791 2 8078 1021z 103 9812 9834 943g 943g ioi1s 99 981g 917g 917g 105 100 998 93 931 8 10538 100 93 1906 lm/t!~1fnifg:~e1~1f_~~•!=- 6 2d series 1911- - -------6 Sterling loan 1925-----4½ 2d series 1925-------4½ Sterling loan 1931- - - _- - -4 Be~ublic Cuba 1904 loan- -- 5 Mexico 1899 loan- - - - - - 5 Oold debt of 1904-------- 4 1907 Imlt';'/1t~;ro"aan~el~1?~_"..t~=-6 2d series, 1911-- ------ 6 · Sterling loan, 1925----4 ½ 2d series. 1925---- --4½ Sterling loan. 1931-------4 Beg of Cuba, 1904 loan-----5 of Mexico 1899 £ loan --5 · Gold debt of 1904-------4 -9334 -94- 9912 991g 9212 915g 841g 103 99 921g ---8334 84 75 98 96 89 -8914 887g 8014 10114 9734 92 -848414 76 95 93 8834 ---- -- --8712 867g 7814 9812 95 90 ~ 891g'J90'9 87 903g 8578 8914 8612 8912 781 8 791 4 76 801g 1031:,JI05 1041210514 987s 9934 92 93 -9212 -9314 8614 8714 785g 7914 97121001 2 96 9714 8734 89 ~· ,...~ 1908 Imperial Japanese Govt.Sterling loan, 1925- - - -4 ½ 2d series, 1925 ---- --4½ Sterling Loan. 1931------4 Rep cff,Cuba, 1904 loan ---- 5 U S of Mexico 899 £ loan- - 5 Gold debt of 1904-------4 --- -8558 -8734 91 90 8834 90 801g 825g 1021410234 985g 9834 9312 937g 9114 92 9014 915 8214 823 102121033 983g 991 9212 94 Note.-In case or bonds or foreign governments Issued In pounds sterling. the usage or the Stock Exchange Ls to consider five dollars as the equ1valent or one pound sterling. and the abo ve qnntatloas are on that basis. With the exception or the Republic or Cuba 5s or 1904 and the U . ~- or Mexico 4s or 1904 ( ,1n1ch are Issued ln the , enomtnatton or dollars), the bonds In the foregoln are a.II sterling Issues https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis STATE SECURITIES-RECORD OF. PRICES 1860 TO 1908, INCLUSIVE. I n the tables which follow we furnish a record of the course of prices of State securities on the New York Stock Exchange since 1860. Dealings in these securities are now very small. 1860 to 1865 , inclusive. DESCRIPTION. Compiled from Sale Prices. 1860. Lowest. 1861. Highest. Lowest. Lowest. 1864, 1863. 186~. Highest. Highest. Lowest. Highest. Lowest. 1865. Highest. Lowest. l,l ighest. - - - - - - - - - - -!------ ------ -----1-----1------ - - - - - - - - - - - - - - - - ----- ------ ------ -----Ohio, 6s, 1886-------------- 106½ Jan 11312 Kentucky 6s _______________ 99 Dec 10634 Illinois, Int. Imp. Stock, 1947 100 Feb 10612 Interest _____ 100 Mch 10012 " " " Illinois 6s, 1879 , coupon _____ 10412 May 10612 Illinois War Loa n ______________ _ Indiana 5 % ----- -- ------- -- 86 Jan D3 Michigan 6 %- -------------- 98 Mch 106 Tennessee 6 % -------------- 64 Dec 93 Tennessee 6 % new bonds _______ _ Virginia 6%---------------- 73 Dec 95 Virginia 6 % new bonds _____________ ____ _ North Carolina 6 % -------- -- 7712 Dec 100 North Carolina 6 % new bonds __ _ _ North Carolina 6 % special tax ___ _ Missouri 6 % - ____ __ _ ________ 61 Dec 847s Louisiana 6% ______________ 94 Jan 9912 California 7 % ______________ 82 Jan 95 Aug 87 D ec 109 Feb June 65 April 97 Jan Oct---July ___ _ Sept 75 June 8514 Sept _ __ __ _______ Aug 75 July 93 April June 77 Dec 8334 Oct June 3414 June 77 Mch 93 Jan 115 7012 J an 100 Nov ___ _ Dec ___ _ 8014 77 75 7734 42 Dec Dec May Dec Feb Mch 36 April 81 Sept 44 June 8212 Feb GO Mch 49 June 35 Jlfay 72 Jan 40 Oct 45 May 7712 Jlfch 59 Sept 7112 May 88 J a n 7634 Jan Jan Feb J an Jan 110 10512 84 105 65 Jan 6512 Jan 74 ___ _ ___ _ ___ _ ___ _ 57 July 64 Feb 50 Mch 92 Dec Oct 49 Dec 75 Feb 47 Jan 64 Sept 50 Jan 73 Nov June 53 Dec 80 Mch 49 Jan 63 Aug 58 Jan 86 Dec Oct 7514 April 51 Feb 75 April 60 Jan 167 Aug 112 Mch 79 Feb 80 May 155 Dec Dec Jan Jan 6712 May 52 Jan 5614 Feb 5912 Dec 75 May 60 J an 70 Mch 55 Nov 80 Mch 52 Jan 11612 Dec 114 Aug 13914 Mch 123 1866 to 1871, inclusive. DESCRIPTION. Compiled from Sale Prices. 1866. Lowest. 1867. Highest. Lowest. 1868. Highest. Lowest. 1870. 1869. Highest. Lowest. Highest. Lowest. 1871. Highest. Lowest. Highest. - - - - - - - - - - - - - - - - - - ----- - -- - - - - - - - - - - - - - - - - 1 - - - --1- - - - - - - - - - ------ _____ ,__ __ Tennessee 6 % - ____ --------- 84 Tennessee 6 % new bonds _______ _ Virginia 6 % ----- - ---------- 60 Virginia 6 % new bonds _________ _ North Carolina 6 % ---------- 73 North Carolina 6 % new bonds ___ _ North Carolina 6 % special tax ___ _ Missouri 6% ___ _ _ __ _ __ ___ __ 71 Louisiana 80 Caillornia 67 % % -------------______________ 106 Connecticut 6s _____ ________ ____ _ Rhode Island 6s ____ ___________ _ Mch 100 June x61 Nov 72 Jan 41 Nov 88 Jan 45 Jan - - -Mch ---Mch Mell 9:~14 Dec 8634 Mch Jan 100 Sept 80 Feb April 120 Oct 115 Jan ____ 9812 Jan ____ 99 April 7014 July - --- --Jan 60 -- -- ---6012 July X5978 Jan 7812 June X4914 Dec 70 4012 D ec 6978 - --Dec 59½ X4312 Jan 60 X47 49 Sept 6334 - - -Jan 79 iune X4034 Dec 66 38 X50 - --- 27 Nov 64 106 90 128 102 100 84 Nov 108 ___ _ 128 Dec 134 __ _ _ ___ _ July Jan Dec Sept Mel\ May Jan Jan Jan Jan Jan Jan Jan 4518 Mch X48 12 Jan Jan 57 Jan X40 2012 Dec X5212 Feb 85 Sept 9612 June 85 Mch ___ _ 70 68 14 76 73 55 3612 Jan 95 July July Mch Mch July July 61 61 59 6012 31 15 18 1212 June 89 Dec Jan Oct Feb Dec Dec Dec Jan Aug 76 7658 Aug 74 April 75 May 5114 Feb 2918 Feb 2178 Feb 9912 July 1872 t o 1877, inclusive. DESCRIPTION. Compilvd from Prices Bid. 1872. Lowest. 1875, 1874. 1873. Highest. Lowest. Highest. Lowest. Highest. ---- ------ ------ ------ ----- ------ Mch Alabama-5s, 1886 - - -------- 55 Aug 8s ot 1888---------------- 80 Arkansas---6s, fund _________ 40 Nov Aug 7s, Little Rock & Ft. Smith 50 California-7s ______________ 109 Sept Connecticut-Gs ____________ 98 Jan Jan Georgi ~-1.,s --------------- 70 7s, new ______ __ __________ 84 Feb Illinois-6s, 1879, coupon ____ - - - - - --Jan Rentucky-6s 95 Loulsiana-6s, L evee ________ 50 Oct 7s , consol ________________ ---- ---Mlchigan-6s, 18 3 __________ Mlssouri-6s, long ____ ______ _ -9178 sei>i New York-6s, bounty, coup_ 1053.,1 Oct North Carolina, 6s, old, J. & J. 30 1s May es, new, J. & J ___________ 15 Jan 6s, special tax ____________ 10 Oct Ohio-6s, 1886 ------------- - -- - - - - Rhode Island-6s ___________ 99 Jan South Carolina--6s- _________ 40 April 68, J. & J ________________ 23 Sept 6s, A. & o _______________ 22 J an Tennessee-6s, old __________ 63 5,'l J an 6s, new ____ ______________ 63~8 Jan Virglnla-6s, old ____________ 42 July 6s, consoL _______________ 5012 July 6212 90 5712 60 115 10212 77 90 May Jan June Feb June Dec Jan Jl1ay ---- - - -- 101 July 6712 April ---- - - -- -9112 iiiiie May Mch Mch Mch - - - - -- -10212 June July 56 Mch 39 36 April 80 12 Dec 80 18 Dec 56 18 F eb Mch 59 109 38 14 23 16 45 45 25 15 101 97 59 70 85 95 50 ---85 85 103 20 14 5 99 98 22 8 19 63 12 6214 32 44 July Aug June Nov Dec Oct Nov Nov Nov Jan Jan - -- - Nov Oct Nov Oct Dec Nov Nov May Nov Nov Mch Nov Nov Oct Oct Jan 57 Feb 82 Feb 40 27 July 116 June 10234 June 82 May May 91 July 99 Aug 100 Aug 55 - - - - ---98 May 9634 June 108 June 33 12 Jan J an 19 1712 June 107 April Mch 101 Jan 40 2212 J an 28 April 8434 Mch Mch 85 Feb 47 56 14 Mcb Jan 39 April 45 Sept 35 Aug 23 5 Jan 114 110 Jan 106 97 Jan 80 65 Jan 92 82 Jan 10212 95 9712 July 102 15 June 28 - --- - -- - - - - Jan 104 94 9212 Aug 9834 10312 Jan 110 18 June 29 Aug 2112 10 5 Sept 1112 Jan 10612 100 Jan 105 97 20 April 30 612 Jan 31 Feb 30 12 Oct 9112 67 Oct 9112 67 28 June 42 4912 Jan 58 25 40 8 Dec July Mch Jan Nov Dec Dec Dec June Nov Nov - -- Dec Dec Lowest. 1876, Highest . Lowest. 1877. Highest. Lowest. Highest. - - - - - - - - - - - - - - - - - - ------Dec 4112 Jan 26 Jan 35 Nov 32 Jan 43 Nov 25 25 20 8 105 103 80 8812 99 100 25 ---- Dec 42 Jan 38 Mch 17 Jan 117 Jan Jan Jan Jan Jan Jan 110 96 104 104 104 40 -.raii 10712 101 9478 Jan 10234 May 105 18 Jan 109 Jan 15 Dec 27 Dec 16 Mch 7 Aug 434 Feb 1 Jan 10814 May 103 Dec 102 Jan 108 Nov 26 Sept 3512 Aug 35 Dec 27 Dec 26 Sept 3512 Mch 62 Feb 78 Feb 77 18 Mch 62 Feb 40 12 Jan 30 Dec 55 Jan 76 April 26 Dec 25 June 3 May Dec Sept Dec Dec Dec Dec Oct June June Jan J an Jlfay Sept Oct Dec July D ec Jan Jan Oct Dec ---- 105 91 100 58 100 100 37 5212 103 10134 102 13 5 34 105 105 30 30 30 4012 40 22 73 Jan 34 April 32 June 4512 Feb 15 Feb 2 Dec 18 ---- --- - - --- - --Jan 113 Nov 106 Aug 97 Mch 93 Jan 10712 June 103 July 104 Dec 100 July 10414 Jan 100 May 35 Dec 46 Dec 6012 June 50 Aug 107 April 101 Jan 1083g Sept 10414 July 10538 May 101 Sept 18 12 Nov 15 Jan 6 Oct 9 Aug 3 14 Feb I Jan 114 Aug 105 J an 111 Dec 105 June 40 Nov 32 June 37½ Feb 30 June 3712 Feb 30 Aug 3618 Dec 49 Dec 49 Aug 35 Sept 37 Jan 30 May 7812 Nov 6212 Jan 43 July 30 Aug 10 ---- Oct Feb Jan Jan Jan Jan Jan July Jan J an Oct Oct Aug Oct Oct Jan Aug Aug Dec Dec Jan Dec Nov Jan jan -- -- -- -- 113 June 10278 July 109 14 Mch 10312 Dec Nov 107 Dec 56 8812 May 107 June 10878 June 10112 Feb Jan 23 Feb 12 3 12 Jan 11412 June May 111 45 April 45 April 44 April 4714 Nov 4634 Nov Nov 34 83 12 June 1878 to 1883 , inclusive. DESCRIPTION. Compiled from Prices Bid. Al!lbama-Cl!l.SS A, 3-5S, 1906 Arlmnsas 6s, Iund-1809-1900 7s, various railroad issues __ Connecticut 6s _____ __18 3- 4 Georgia ------------1886 7s, new6s______________ 1 86 7s, gold ______ ________ 1 90 Louisiana 7s, consoL ____ l914 Michigan 6s ____________ 1883 75 ________ __ - - - - - - - - _1890 Missouri 6s ____ ______ 1882-83 6s ________ _________ 1889-90 Funding bonds _____ 1894-95 Hannibal & St. Joseph_l887 New York 6s _______ __ __ l 887 6s, loan ______________ 1883 6s, loan ______ ___ _____ l 92 North Carolina 6s, old_l886-98 N. C. RR _________ l 883-4-5 7s , coupons oft ___ do Funding Act_ ______ l868-98 New bonds __ ___ ___1892-98 Special tax, class L _______ Consol, 4s _______ _____ 1910 Ohio 6S----------------1881 68 _____ ________ __ - _- -1886 Rhode Island 6s, coup _1893-99 South Carolina 6s, Act Mch. 23 1 69, non-fundlng _____ l888 Brown consol. 6s ______ 1893 Tennessee 6s, old ____ 1890-2-8 6s, new ____ ___ 1892-98-1900 Virginia 6s, old _____________ 6s con so L __________ ______ 6s deterrrd _______________ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis --- 1879. 1878 L ;uest. Highest. Lowest. 1880. Highest. ---- ------ ------ - --- -- - - -nee 15 Dec 2 J an 105 9614 F eh 10412 J a n 10512 Feb 6934 Dec Jan 101 108 May July 101 10212 Aug 104 Sept 100 April 113 July - - -115 14 -iiiii 1414 July F eb 65 Mch 45 Aug 8 Jan 7 Jan 2 --- - - --- l02 105 105 34 - --30 25 18 20 66 4 Dec Jan J an Feb Aug 44 5 April Mch 1 104 April 99 Sept Jan 107 Jan 107 36 14 Aug 10112 J an 100 July Aug 101 103 12 Aug Jan 105 Jan 102 106 June Mch 106 117 Sept 1712 F eb Jan 85 J an 65 Mch 7 Feb 8 Mch 1 2612 Jan Jan 6 109 April 1025g July D ec ll0 Dec 109 8412 Feb D ec 106 Oct 115 104 34 Dec 107 June 109 June 10614 June ll5 June - -- Nov 124 191 8 Dec Dec 85 Dec 65 11¾ Dec Dec 11 212April - - - - --- - -- -106 May 101 Dec 10534 111 11712 May 110 278 111ay No~ -si:iii8 iiay Jan Nov June F eb Feb 1 30 3712 24 Feb 25 31 May 74 75 758 Dec 5l4 Jan 53 20 8 14 109 1027g 114 113 6712 10612 115 10512 10813 112 10714 ll0 110 121 28 111 92 14 1512 5 - - -105 115 116 Feb 4 --- J an Mell - - - - -- - - F eb 41 Meil 33 12 Jan 35 Jan 86 Sept 8 14 Lowest. 5412 Jan 10 April Aug 2 Aug 104 97 April J an 107 109 April Aug 40 Jan 102 Jan 110 Jan 100 10512 Jan Jan 106 J an 102 J an 106 Dec 104 Dec 115 J an 26 J an 110 Jan 90 9 12 Jan Jan 15 July 2 60 July 100 June Oct 106 Jan May 109 Jan Dec J an May June July Dec June Jan June Jan June June May June J an June Feb Dec Dec Dec Jan D ec Dec May Oct - - -- Feb Oct Mch Oct May Jan 2 --- 30 April 25 June Jan 18 Jan 75 512 Jan -- -- 1881. Highest. Lowest. Highest. 1882. Lowest. ---- ------ ------ ---- 73 12 21 1212 10712 107 112 116 54 14 105 14 118 105 11114 115 llO Ill 107 120 3214 115 95 1214 20 6 12 83 12 10312 112 121 6 34 - -- 50 48 78 32 105 1714 1883. Highest. Lowest. Dec Dec Dec Nov Dec Dec D ec Dec Nov Dec Nov Dec Nov Dec Oct Mch Nov Dec Mch Mch Dec Dec J an Dec Oct June Dec Mch Jan 20 8 April Aug 102 Feb 106 109 April lll April 1 53 4 Jan Jan 102 Jan 114 102 July 108 14 Jan J an 111 Jan 107 Jan 105 Der 102 J an 115 Feb 32 Jan 115 J an 90 Dec 10 Dec 20 Jan 6 Oct 80 10014 Jan Dec 107 114 July 8114 Dec 79 Sept 85 12 Dec 80 'July Mcb 37 12 Jan 10 Mcb Dec 20 39 Aug 7 Nov 5 June 35 Oct 40 Jan 100 Jan Mch 103 106 July 100 Aug 109 Jan 102 April 113 June 103 Aug 11012 April 10312 July 114 June 105 Aug 11912 June 11212 Aug 11712 Mch 112 Dec 63 April 7112 July 63 April 69 Aug ---- - -- 105 Sept 100 July 104 122 Oct 110 Jan 120 June 114 Feb Jan 103 Dec 100 Jan 108 .July 100 Jan 115 June 109 July 117 April 109 May 113 July 120 Feb Nov 116 119 May 100 Jan 10912 Dec 108 Jan 113 11212 May 108 Jan Oct 112 June 107 110 April 101 June 105 June - - -- - -- Feb 113 April 122 July 119 June 121 Oct 20 July 3012 Nov 28 J an 40 Nov 155 Aug 120 July 156 J an 150 Aug 130 Jan 130 ,July 100 July 130 Nov 8 June 11 Jan .10 Jan 16 Jan 15 Jan 28 April 1212 June 20 934 April 5 June 8 Jan 4 July Jan 7712 Feb 89 June 75 Sept 82 10212 June - --- --- - - --- --- - - - -- ---Feb 112 June 106 Feb 115 June 106 Feb 110 Jan 120 Feb 115 J an 120 Jan 41? Jan Au~ Jan Jan 45 Jan 30 Jan 104 1212 Feb 1234 Nov 10612 Dec 78 June 7778 June 40 May 121 May 2014 April 71 -Dec --- 10212 45 Dec Dec Dec Dec 4 100 41 40 2612 80 10 July June Dec Dec June 111ch June 10 14 105 773s 77 14 36 100 1758 Highest. -----84 28 68 103 10712 107 11612 7512 Jan Jan Feb June Jan - - -- ---- May June Nov - --- - - - Jan 118 Jan 103 113 June 121 June ll012April 110 April - - -- - -- Jan 120 32 Mch IGO July 135 July 11 April 16 April 8 3,1 Jan 8212 Dec 10912 Mch 118 May Jan i 212 .May 612 Jan Dec 100 July 10434 Dec Jan 30 July 44 12 Feb July 44 Feb 30 May 40 Feb 30 May July 50 Mch 8212 Jan J an 6 Oct 13 Jan Jani 68 ST ATE SECURITIES. 1884 to 1889 , inclusive. DESCRIPTION. CQmpited from Prices Bia. 1884. Lowest. 1885. H ighest. Lowest. ---- ------ ---- 1886. Highest. Lowest. ---- 1887. Highest. Lowest. 1888. Highest. Lowest. 1889. Highest. Lowest. Highest. ------ ----- ----- - - - - ------ ----- ------ Alabama-Class A, 3 to 5,1906 78 Sept 3 Dec 8112 J an 101 Dec 97 Jan 108 Dec 102 Sep t 1087s Apr 10312 July 10612 Jan 10212 Jan 10712 June Class A, small ____________ 78 Aug 81 Jan 80 Dec 97 Jan 101 Aug 100 July 108 J an 105 Dec 10312 Oct 106 l\lcb 102 July 108 Ma)' Class B, 5s ___________ ll}06 9712 Jan 10212 April 99 Jan 108 Dec Jan Dec 103 Sep t 114 110 .Mch 107 July 110 105 Jan 107 Oct 11212 June Class C, 4s _________ __ H)06 75 Jan 97 Dec 95 Oct 82 5s Dec 81 Jan 103 12 Aug 98 Sept 105 Mch 100 Jan 10212 April 98 Oct 102 June 68, 10-20 _____________ 1900 100 May 105 Jan 107 Jan 104 Mch 104 Oct 10712 Mch 100 Sept 106 Oct 100 Mch 104 , June 100 July 103 Feb A.Ikansas-6s, fund_l 99-190::J Jan 9 12 Oct 5 Mch 3 Oct 16 1 May 1112 Dec 10 Jan 11 April 3 April 11 12 Nov 5 Mch 14 Dec 7S, L. R. & Ft. s. issue _____ Feb 10 Sept 25 Jan 22 Jan 12 Dec 16 Oct 28 Dec 35 July 5 J\fch 26 Jan 8 Sept 12 Jan 5 7s, Memphls & Little Rock_ Jan 19 Feb 10 Jan 13 5 Sept 25 Dec 20 May 5 Oct 27 Jan 27 Mch 20 Jan 8 Sept 12 J an 7s, L. R. P. B. & N. o _____ Jan 20 Feb 10 J an 1212 Nov 2712 Dec 17 Dec 34 April 5 Sept 24 Mch 25 Feb 8 Sept 12 Jan 5 7s, Miss. 0. & R. R ________ 3 1 Jan 21 2 Jan 12 Nov 21 April 18 Nov 34 April 5 Sept 24 4 Feb 10 Mch 20 Jan 8 Sept 12 5 Jan 7S, Ark. Central RR _______ July J an July 8 934 Feb 2 Oct 5 1 Feb Jan 12 April 3 April 8 May 8 June 7 5 7 12 Nov Feb 103 June 100 Georgla-68 - - - - - - - - - - _18SG 98 Sept 104 April 100 Feb 10212 JUly - - - - ---- ---- -- - - -- -- - - - - - --- ---- - -- - -- -- - - - - - -- 7s, new bonds ________ 1886 100 May 10612 May 101 Jan 10512 June 100 12 Jan 10212 Mch - --- -- -- ---- -- - - - - - - - -- - - --- - -- - - -- - - - -- - --- ---7s, endorsed __________ 1886 100 l\lay 10612 May 101 Jan 10512 June 100 12 J an 10212 Mch - - -- - - - - - - - - -- - - ---- - - - - ---- - -- - --- - ---- - --- - --7s, gold bonds ________ 1890 107 Mch 10912 J an 11414 Oct 10812 Dec 114 Oct 115 Feb 104 Nov 109 Jan 103 July 106 Mch 10114 Oct 105 Jan Lou1siana-7s, consoL ___ 1914 6514 June 78 Jan 87 Feb 73 Dec 84 J an 94 Jan 102 Nov 93 Nov 105 Jan 109 May 109 Oct 100 Jan Stamped 4s _________ ___ __ 234 Nov 79 14 Jan 923s Mch 8 Feb July 93 63 Sept 75 12 Dec 67 Jan 86 Feb 9412 Dec ---- - - - 7s, small bonds ___________ 62 July 72 Oct 75 Feb 65 Aug 67 Jan 78 ·Feb 89 April 86 Nov 80 July 90 Feb 9112 Dec Feb 84 Ex matured coupon _____ 5G Jan 68 Aug - --- --- - ---- ---- - - - - - -- - - - - - ---- - - - - ---- -- -- - - - - ---- - --- ---- -- - July 68 12 Feb 60 Michlgan-7s __________ _1890 110 May 115 Feb 108 July 118 Oct 108 Nov 112 Nov 109 Jan 105 May Oct 105 Jan 105 Feb 106 Jan 107 Jan 10434 June 100 Jan 102 Missouri-Os, due 1886------- 100 July 10612 May 101 Nov ---- - - - - ------- - -- - - -- - - -- - - - - - - - -- - -- - - - - April 103 July 10 Jan 10712 June 102 Jan 104 12 May 100 Jan 10212 'i.iiiir 6S - - --- - -- -- -- -- ---- - - - -________ __________ ! 887 100 Ju ly 10912 6s ------------------18 Jan 109 June 103 12 Aug 10612 May 100 April 103 Jan 103 12 l\lch 100 Jan 10212 June -- -- -- -- -- - - - - - 103 6s __ ___ - ___- __ ___ 13 9-90 105 Jan 105 12 J an 113 June 107 July 111 Mch 104 JUly 10712 Feb 101 Jan 110 Dec Aug 10312 May 100 Jan 103 Asylum or Univ ___ ____ 1892 107 July 115 May 107 J an 117 June 110 Mch 108 J an 113 Nov 112 Jan 10312 July 107 Jan 102 Mch Feb 108 Funding bonds __ ___ 1 04-95 111 Mch 112 July 118 July 110 Jan 122 June 115 Jan 119 Oct 115 Jan 106 Jan 104 Mch 108 Feb 11212 Mch Hannibal &St. Jo __ ___ l880 10 May 11012 Mch 102 July 123 April 100 July 104 April - - - - - -- -- - - - -- - -- - - - --- - - - - - -- - - -- - - - - - -- - Hannibal & St. Jo _____ 1887 108 May 11012 Mch 102 July 123 April 101 July 104 April 100 J an ioi- Jan - -- - - -- - - - -- - - - - - -- - - -- - - -- - --- Feb 103 July 107 Feb 102 New York-Os, gold, reg_ 18 7 105 Sept 109 Oct 104 April 100 July 103 June ---- - -- - - -- - - -- - ---- ---- ---- -- - 6s, gold coupon _______ 1887 105 ept 10912 Jan 103 July 107 July April Feb 102 Oct 104 100 103 June - - -- --- - ---- - - - - - --- - -- - -- - - - - -68, loan __ _____ ___ ____ 189 1 I l l July 115 Sept 110 July 118 12 Dec 110 Sept 115 Aug 110 July 113 Nov 107 July 112 Jan - --- - -- - -- -- - - - 6 , loa n ______________ 1892 115 July 122 Jan 113 July 115 Dec 112 April 120 Aug 112 Jan 116 Mch Dec 111 J a n 107 Jan 106 Oct 115 6s, loan ______________ 1893 117 May 115 July 124 July 118 Dec 115 Aprll 122 Jan 120 Aug 115 J an 108 Dec 11114 Mch Jan 106 Oct 113 May 30 Jan 31 No . Carolina-Os old_ 1886-98 2712 Juni> 3212 May 30 Feb 38 J a n 35 Mell 30 Jan 35 Nov Jan 361:! Mch 35 Jan 36 6s,old,A. &O ____________ 2712 June 3212 May 30 May 30 Jan 31 May Mch 30 Jan 35 Feb 37 Jan 35 Jan 36 Jan 36 12 Mch 35 N. Car. RR _______ l 3-4-5 160 Jan 160 May Jan 165 Jan 150 May 1 0 Jan 170 Jan 165 Jan 160 Aug 170 Mch 170 J a n 150 J an 175 Jan 135 Jan 135 Jan 135 Jan 135 Mch 140 Jan 140 Jan 145 N. Car. RR., 7s, coupon off_ 135 Aug 140 Jan 150 May Nov Jan 145 0 N. Car. RR., A. & O ______ 160 J a n 165 Jan 160 Jan 165 Jan 160 May Jan 150 May 1 0 Jan 170 Aug 170 Mch 170 Jan 150 Jan 175 Jan 135 Jan 130 Jan 135 Jan 135 May Aug 140 l\lch 140 Jan 150 Nov 80 Jan 140 Jan 145 . Car. RR., 7s, coupon off_ 135 J an 145 Funding Act _____ 1866-1900 8 May 10 Jan 11 Aug 1212 Ma y 10 Oct. 121a May 10 Jan 10 , Jan 1312 May Jan 10 J an 13 12 Mch 10 May 10 Jan 11 Jan 10 Aug 1212 April 10 Funding Act_ ___ -1868-1898 8 Jan 13 12 May Oct 12 1s May 10 Jan 10 Jan 13 12 Mch 10 Jan 21 May 20 Aug 20 Jan Jan 15 Aug 19 12 May 18 Aug 20 Mch 15 Sept 22 J a n 15 New bonds, J. & L _1892-98 15 Jan 23 New bonds, A. & o ________ 15 Aug 20 Jan 21 Aug 19 14 May 18 Jan 15 May 20 Jan Aug 20 fch 15 Sept 22 J an 15 Jan 23 Chatham RR ____ _______ __ Jan 7 Feb 2 Dec 5 Sept 13 May 3 Jan Nov 8 Dec 4 Feb 8 Oct 7 Sept 15 Aprll 6 1 Dec 8 Jan 8 Aug 10 Mch 2 May Jan Feb Dec 1612 June 6 Special tax, class L_l898-99 Nov 11 Jan 14 58 Nov 8 4 5 1 Special tax, class 2 ________ Feb May 334 Aug 2 12 Jan Jan Feb 10 Aug 10 12 Oct 10 Nov 1612 June 6 1 4 12 Dec 10 7 12 Oct 11 May 3 12 Aug 2 12 Jan 4 12 Feb - - - - -- - - ---- ---Jan J u ly 10 Feb Special tax railroad Issues __ Dec 1612 June 6 Oct 11 1 5 8 6s ___ _______________ 1919 102 June 108 Sept 105 34 Jan 115 12 Dec 115 Dec 125•14 Mch 118 Jan 123 12 Aug 122 Aprll 127 June Jan 129 Sept 117 Consol. 4s - ___________ 1910 75 Sept 8414 April 81 Jan 9112 Dec 88 12 Jan 10034 Dec 94 Jan 99 J une Jan 91 Dec 100 12 Jan 91 Nov 96 Small bonds _________ _____ 78 Dec 87 May Jan 90 Jan 96 Mch 80 Jan 89 Dec 98 May 82 Aug 93 Jan 89 Nov 95 Jan 98 Ohio-6s ______________ 13 6 104 July 108 Dec 103 June 106 April 101 Jan -- -- - -- - ---- -- -- ---- ---- --- - ---- - -- - - - - - - -- - - -- July 103 Mch Jan 125 June 118 July 124 July 115 Dec 111 Jan 105 Feb 120 Feb 115 J an 106 Feb 110 Rhode Island-68, cp _l 93-99 110 Sept 122 South Car.-68,Act . Mch. 23 1 Dec Jan 6 12 Oct 5 Aug 5 2 May Jan 334 April 5 1 69, non-fund. 1888- __ J 1 June 3 12 Mch 71.1 Dec 5 Sept 734 AprU 3 Brown consol. 6s ______ l893 [00 July 107 Dec 10412 Jan 10912 Sept 104 Sept 1101:i Nov 104 July 10912 Mch 104 Jan 107 May 101 Sept 106 June Aug 6834 Sep t Dec 63 Mch 64 Tennessee-Os, old ___ 1890-2-E 35 June 435s April 42 Jan 5212 Nov 53 Oct 6512 Jan 57 Jan 6512 Dec 57 Aug 68:l4 Sept Mch 4134 Jan 5212 Nov 53 Dec 63 Mch 64 Jan 6512 Dec 57 Oct 6512 Jan 57 6s, new bonds_ 1892-98-1900 35 June 43 68, new series ________ _1914 35 June 4234 April 4134 Jan 5212 Aug 68:l4 Sep t Dec 63 OV 53 Mch 64 Jan 6512 Dec 57 Oct 65 12 Jan 57 Dec 73 12 Jan 7812 Sep t Mch 73 Jan 61 14 Dec 62 Jan 75 12 Dec 67 Oct 76 14 Feb 67 Jan 49 April 48 Co-npromlse, 3-4-5-6s __ 1912 41 May 102 Dec J an 110 Aug 109 New settlement, 6s ____ l913 - -- - -- - - - --- - --- ---- --- - - --- ---- 103 Jan 105 Dec 100 Nov 106 12 Feb 97 Jan 105 J une Tew settlement, 55 ____ 1913 - --- -- - - - -- - --- - - --- -- - - - --- - - -- 100 July 102 Feb 9912 Dec 100 Aug 100 l\fch 90 Jan 103 J a n 7614 June Dec 71 Mch 73 New settlement, 3s ____ 1913 - - - - ---- -- - - -- -- ---- -- - - - - - - -- - - 7112 June 80 Aug 68 Sept 7812 Mch 68 Vlr!l"ini'.l.-6s, old ____________ 33 Jan J a n 48 Oct 48 Aug 50 Jan 48 Nov 42 J uly 40 July 47 J an 45 Jan 40 Jan 47 Jan 37 -Os. new bonds ________ l866 33 J an J a n 48 Aug 50 Oct 48 Jan 45 Jan 40 Jan 47 July 47 Jan 37 Jan 48 Nov 42 July 40 Jan 6s, new bonds ________ l867 33 J an 48 Aug 50 Oct 48 Jan 45 Jan 40 Jan 47 JUly 47 Jan 48 NOY 42 July 40 Jan 37 68, consol. bonds __________ 45 Feb Apr 75 J Uly 70 J an 50 Dec 95 July 65 Mch 75 Jan 85 Jan 65 Jan 100 Jan 50 Nov 80 J an 42 Ju ne J an 32 Dec 53 July 42 68, ex matured coupons ____ 30 Feb 41 Jan 55 Jan 32 June 40 Jan 60 Jan 37 Nov 50 6s, consol., 2d series _______ 40 May 50 Jan J an 35 July 60 June 65 July 55 Jan 60 Dec 50 April 60 Jan 69 Dec 50 Dec 60 6s. deterred bonds _________ J an 8 12 Sept Oct 8 12 J an 7 Jan 4 April 13 14 Oct 9 Dec 15 Jan 5 Mch 1334 Nov 7 4 June 9 Trust receipts ____________ - - - - - - - - - -- Aug 1012 Jan Nov Mch 10 Dec 13 Mch 133-1 Nov 8 Sept 16 Feb 7 Oct 9 7 10 Feb 124 June Dec 120 July 114 Ai:>rii 11212 Feb 116 July 116 Feb 122 Jan 120 Ort 115 12 Dec 122 June 116 DiRt. of Col.-3.65s, cp., 1924 106 Nov 110 June J1,n 11014 Jan 110 Dec 106 p,,, -Hnn: ~"- couo _____ lR!}Q 105 Mch 109 DPC 109 Feb 100 Jan 1121~ July 104 Mch 109 Julv 112 1890 to 1895 , inclusive . 1 92. 1 91. 1895. 1893. 1890. 1894. DESCRIPTION. 1890Compiled fromPricesBia; l- - - - - - - - - 1 - - - - - - - - - l · - - - - - - - - 1- - - - - - - -- 1 - - - -- - - - - 1 - - - - - - -Highest. Lowest. Highest . LQWest. Highest . LQWest. Highest. LQWest. Highest. Lowest. Highest. Lowest. l 91 to 18;!5 from sales. - - - - - - - - - - - 1- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -- ______ ,_____ , _____ - - - - - July 100 Sept Nov 108 Alabama-Class A, 4 to 5,1906 103 Aug Class A, smalL _______ l906 ____ ---- --- - ---- 102 Class B, 5s ___________ l90G 110 July 110 July 10534 July Class G, 4s ___________ l906 1023-1 June 10234 June ____ --- Currency funding 45 __ _1920 10534 Dec 108 April 95 Sept May Feb 7 Feb 17 Arkansas-Os, ··Holtord" _ _ _ _ 17 Oct 6 Sept Dec 9 8 7s, L. R. &Ft. S. issue_____ 7 April 412 Sept 7S, L. R. P. B. & N. o____ _ 7 April 7s,Mlss.O.&RedRlver ___ ---- ---- ---- ---- ---512 May 512 May---- ---7s, Memphis & L . R_______ Oct ____ ---Oct 7 7 7s ,CentralRR ___________ Oct Funding 6s, "Non-Holford" ____ ____ ___ _ ---- 156 Dist. or Col.-cp. 3-65s __ l924 ____ ---- ---- ---- 111 June Registered _______________ 11912 Aug 12212 April 11312 Dec 1 12 --5- July i~~il ig~l4 i~~r~~~~c;~~/~~~=~~~~ Mch Oct 9534Apri1 86 Consol. 48, smalL _________ 86 Consol. 4s, stamped ___________ ---- ____ --- - ____ ---New consol. 48 ____________ --- - ---- ---- ---- ---Missouri-Funding bonds _______ _ ---- ____ - --- - --May 10612 May ___ _ Asylum and Unjv _____ l892 106 New York City and CountyCon. stk. , City, "C" 7s 1 96 ____ ---- ____ ---- 12134 Feb Jan 5 April 5 April 4 No. Carolina-Chatham RR__ Mch West. No. Car. RR., 6s ____________ - --- ---- 4 Jan Aug 912 Jan 5 7 Specia l tax, railroad issues__ Jan 5lsAprli 414April 11 Trust receipts__________ Special tax, Western RR _______ ---- ---Mch ___ _ M:.t.r 6 6 Special tax, Class L------Class2 ---------------- ---- ---- ---Jan 5 April Class3 _______________ _ 41:i April 11 Jan Consol. 45 ____________ 1910 953-1 Mch 100 July 96 Feb Feb 91 Feb 97 Small _____________ 19111 97 Dec 128 July 12312 Aug 6s __________________ 1919 118 New 6s ____________________ ---Oct---- ---Oct 10 Funding Act of 1866------ 10 214 Nov 534 Jan 31s Mch So. Carolina-Non-fund. os___ Oct Oct 104 June 96 Brown consol. 68- _______ __ 100 20-40, 4129 ___________ 1933 ---TennesseeMch 101 Newsettlement6s _____ l913 1011:i Dec 110 May May Small-------------- --- 108 J une 108 June 101 Feb 99 Oct 105 Newsettlementss _____ l913 101 Nov Feb 101 Small----------------- 102 Sept 10234 Sept Dec 76 April 67 July Newsettlement3s _____ 1913 68 Nov Small -- ----- ------- --- 7112 Mch 73 June 66 ov 83 June 74 Compromise 3-4-5-6s ____ l912 7312 Aug Redemption 41~------ ---- ___ _ Old 6s, 1890-2-8 __________ 6812 Jan 6812 Jan ____ ---July 10 July 8 J une Vlr~inia-6s, deferred bonds__ 10 Stamped ____ ____ ____ _______ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 7 May Trust receipts _ _ _ _ _ _ _ __ _ _ _ 7 M'l.y 113s June 514 Aug Trust receipts, stamped _______ _ 6 July Funded debt, 2-3s ____________ _ Registered _ _ _ _ _ _ _ _ _ _ _ _ _ _ __ _ 10-40S - _____ - _________ - ____ _ "Riddle':>e ..gers" _________ ____ _ 6s cons -,1. b~i~~~- .:_ _..:. _ _ _ 1 ::J Sf'pt, 53 Sept ___ _ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ii AJ;~ Feb 104 Aug 102 10814 Mch ______ __ 9714 Dec May 7 6 Sept 418 Sept ___ _ ____ 156 11512 11312 ------Oct June Dec 100 Sept 105 June 95 ________________ 10234 Feb 10712 June 100 104 Aug 9012 Feb 97 94 9514 Jan 977s June 89 Nov 914 Oct 10 7 Oct 6 Aug 22 9 Oct 8 512 Aug 20 Aug 2112 Oct 10 6 Aug 101:i Sept ___ _ 10 3-1 Oct ___ _ ov 6 ______ ______ _______ _ 11112 Feb 1141:i Jan __ _ _ ___ ___ _____ _ -9312 -Feb -8434.Apri-l -9-Jan ___ _ 91 ___________ _ ---- 105 rov 105 12134 Feb _______ ___ _ _ 514 Jan 312 Sept 4'8 514 Aug ___ _ Jan ___________ _ 5 51 4 Jan 3 April 6 ____ April May Mch April ---___ _ ---3 Dec 981:i Dec 5 101 99 124 Dee June May Dec 7I7s Dec 7034 Feb Aug 74 10612 106 10214 102 Der 4 318 Aug ___ _ J an 97 Feb 97 May 122 10814 Oct 1012 Oct 112 April 941 2 Feb 4 4 Dec 92 Sept Dec ov Oct Sept Oct Dec Sept Oct 10314 April 10234 Dec 10612 Jan 9478 June 9318 Nov Oct 10 D ec 6 Jan 17 Oct 12 Sept 98 9712 ___ _ 98 9334 92 8 ___ _ 6 7 Jan 95 - --- 97 -- - - 97 No~==== Jan 104 Sept 10812 Sept 11012 Dec Jan 9334 Jan 10014 Sept 10114 Dec Aug 93 June ___ _ Mch 912 Feb ___ _ June 12 June 11 8 June Mch 1\fcb ___ _ 9 June J a n 9712 June ___ _ June 97 June 97 June _ _ _ _ _ _ _ _ _ __ _ _ __ _ June 9212 Mch 10012 Dec Oct ___ _ Oct ___ _ --334 Sept---- ---- -- - -Feb 12 D ec 12 Dec --- - ____ ____ 312April 312April ___ _ 3 Dec ___ _ Aug---- Nov 100 April 10012 Aug 94 97 iis- sept i21- Mch 12512 ---10 l-1 Oct____ 1012 Oct _ _ __ - - - - __ - - - - - 5 Oct 112 June 212 Jan _ __ _ 9 12 Oct _ _ _ _ __ - - ~:g 101 Is Aug 10712 April Aug Aug 103 103 9912 Jan 1041:i June ___________ _ Jan 7914 Aug 68 Aug 6712 Jan 76 Feb Feb 75 75 100 Sept 107 ___ _ 97 Sept 97 64 71 74 ioo- - Oct io2- May 103 i2i12 May 12518 -Aug 1~~ ___________ _ __ - - _ _ _ _ _ __ _ 112 Jan 27s Dec _ __ _ _ _ _ _ _ __ _ 9912 April 10434 Dec 108 Oct 103 Jan 107 Jan ___ _ Sept 101 April 104 April ___ _ -Jan -Dec Aug 106 Oct 98 J a n 127 Nov 2 Mch Nov 108 Nov Dec Oct Feb -Jan -91 34 JUly -82-8414 Aug 76¾ Mell 7214 Nov Mch 7314 Mch 77 Sept 7812 Jan 85 Feb 74 Jan ___ _ Jan 74 Dec 106 July ___ _ _ __ _ 105 ____ ---- _______ _ ___ _ 912 Jan 712 Oct 914 Jan ___ _ 834 Sept _ __ _ _ ______ _ Jan 812 April 812 Mch 914 Feb 4 June 4 June 5 914 Jan Dec Jan 13 6 Jan May 7 5 Jan 614 Dec 838 Jan 9 ____ 5134 Sept 573s Dec 5512 Jan 6114 Dec _ ___________________________ Jan____ Jan 40 _ ___ 40 ---_ ________ ---512 Dec 1338 5834 Feb 641s 021 July 0212 8 _ __ ____ _ 75 July 75 • ---Jan Sep t July ---J u ly 69 STATE SECURITIES. 1896 to 1901, inclusive. DESCRIPTION. Compiled from Sale Prices . 1898. 1897. 1896. Lowest. Highest. Lowest. Highest. Lowest. 1900. 1899- Highest. Highest. Lowest. 1901- H i ghest. Lowest. Lowest. Highest. - - - - - - -- - - -1----------------------------------------------------------------Aug 10912 April . labama-Class A, 4 to 5,1906 10112 Nov 109 Jan 1051g July 10812 Sept Cl!lSS A, smalL _______ l906 ____________________ ---- ---- ---Class B, 5s ________ ___ l906 100 Aug 100 Aug 10434 July 10734 June Class C, 48-----------1906 9312 Oct 100 April 9812 Feb 100 April Currency funding 4s ___ l920 94 Sept 10012 April ____ ---- ---- ---rkansas-6s "Holford"_____ 318 May 378 May ____________ ____ Dist. ot Col.-cp. 3.65s __ 1924 ____________________ ---- ---- ---Louishna-New consol. 4s_ _ _ 9012 Sept 9914 Feb 93 Sept 10014 Nov Consol. 4s, smalL ______ ____ _______________________________ No. Carolina-Consol. 4s_l910 102 Jan 10558 June 10312 July 10512 June 6s ------------- - ----1919 116 Oct 124 April 127 June 127 June Special tax, Western RR___ 34 Dec 34 Dec ___ _ Special tax, Class L_______ 138 June 178 April---~0N~!:1~~~~it;~~:~•-:1_2~=~=~~ Tennessee-New settlement 3s _____ 1913 Small _ _ _ _ _ __ _ _ ___ __ __ _ v1-~inh-Funded debt. 2-3s_ _ 6s, deferred tr. rec. stamped -- i74 81 55 4 -Jan --i12 10812 105 1051g 98 ------115 100 98 101 128 Mch Aug Aug Aug 109 108 108 104 May Mcb Sept Dec 107 ___ _ ___ _ ___ _ June May Mch J an Feb 118 1061g 10012 104 128 Dec ________________ 121 April ov 10834 Jan 110 April 10612 July Mch 10912 Feb 10912 Feb---- ---Nov 108 April 108 April 105 Oct Feb____ Oct 113 June 10812 Jan 11618 Mch 108 ____ 10914 ____ 102 --- - 120 May---- Aug 8819 Feb 76 April 9214 Dec 87 Feb 81 - Feb 72 Feb 911" Dec 87 Aug 621 4 April 61 Jan 70 - Dec 65 312 June July 71 2 rov 65s, Jan 412 May 98 May 9419 April 83t;; Feb 912 Dec 94 Dec 99 Nov 931,, Nov 95 Dec 821; Jan 8734 Aug 534 Dec 9 Oct 10914 Oct ___ _ Jan 10234 Sept 102 ---- 109 121 April 108 Aug ---- ---10634 May _ ___ Mch 120 June 935s Sept Jan 91 Jani Sept 85 Jan Mcb 6 Dec 965s 965g 963g IO Feb 10312 Mch Aug 109 Aug 125 April 10612 Aug ---105 Feb 135 Mch 126 109 July April 10614 Nov 13612 Mch Mch ___ _ June 95 June 9412 Dec 9312 Mch 714 June Sept June July 9934 96 9834 1034 May Feb Nov Mch 1902 to 1907, inclusive, DESCRIPTION. Compiled from Sale Prices. 1902. Lowest. 1903. High€st. Lowest. 1904. Highest. Lowest. I 1905. Highest. Lowest. 1907. 1906. . Hi~~ _!!!_u_:est. Highest. Lou_:~ H ig~ Alabama-Class A, 4 to 5 __ 1906 10438 Sept 107 Jan ___ _____ ______ __ 102 Aug 1023.i May 10112 Jan 102 Dec ___ _ Class C, 45 _____ _________ 190610212 Feb 10212 Mcb ___ ___ _____ ____ ____________________ _ Currencyfunding4s ______ l920111 Mcb 111 Mch ___ __ ______________________________ _ ____ 11712 June ~18 June __ _ _ District of Columbia, 3 .65s- - 1924 - - - _ _ ___ 121 Mch 121 Mch 11934 Oct 11934 Oct ___ _ LOuls!ana-~ew consol, 4s--1914106 May 107 Aug 106 April 106 April 10214 July 10512 Dec ___ _ New York CityCorporate stock, 4125 _____ 1957 _ _ __ ___ _ __ __ _ __ _ _ __ _ __ _ _ ___ _ ___ _ _ _ _ _ __ _ _ _ _ _ _ _ ___ 10278 Sept 10 12 Dec Assessment bonds, 4125 --1917 ____ ____ ____ ____ ____ ____ ____ ____ __ __ ____ ___ _ _ ___ 10034 Nov 10414 Dec NorthC:l.rolina-Consol.4s--1910104 Jan 10412 Jan ____________ ----101 July 10314 Dec10234 Oct 10234 Oct 101 July 101 July 10014April 101 Feb Special tax bonds ____________ 17s Oct 2 Nov 112 Dec 112 Dec____ ____ ___ _ ___ _____ _ ______ __ ______ _ 1919, 6s _______________________________ __ ______ __ _______________________ ____________________ 122 June 122 June 126 Mch 126 Mch Tennessee-New settlement 3s.'13 9512 Mch 965s Feb 94 July 97 Jan 9514 Mch 9712 Dec 95 July 97 May 9514 July 9634 July 9112 Oct 96 Mell Small 3s ____________________ 94 June 95 Feb 9312 Oct 9414 May 95 Aug 9512 Dec _______________________________________________ _ Virginia-Funded debt 2-3s ____ 9514 May 9934 Jan 9312 Dec 95 Nov 9112 Mch 9738 Dec 9634 June 9712 June 9412 Sept 9634 Jan 9314 May 9534 Jan Registered 2-3s-------------__ ______ ---- ----- ---"Riddleberger" bonds , 3s, 1932 ____ ____ ---___ _ ---____ ____________ ___ _ ____ ____ ---____ ---____ ____ ____ --____- -___--_ ---____ ____ ____ ---____ ---____ 90 -Dec 90 ---Dec Brown Bros. & Co. certificates !Qr deferred certificates, 6s__ 714 Jan 1538 Oct 614 Oct 12 Jan 612 May 1612 Dec 10 April 2412 Nov 20 Jan 30 Feb 20 Jan 3014 July 1908. I Janvary February March Aprt! May June J 1tly Augu t Septemb"T O, 'o/Jer . ·:.rvember Drcember Low Hi(Jh Low H i?h Low Hi>1h Low Hi(lh Low H1?h Lou: Ht?h Low H /,q'1 ',ow H '.?I• !~ow HI h Low H (/II .. ow H hh Law Hi<,li BONDS 1 _______________ - - - - -D-Is_t___o_t_C_o_lu_m_b_l_a_3___ 6_5s-_-_-_-_l_9_2_4 .New York City-* Corporate stock 4½s.May 1957 105 10812 Ass't bonds 4½s ____ May 19171031210414 (New)Corp.stk.4½sNov.1957 ________ (New)Ass't 4½s ____ Nov. 1917 ---- ---- m~ ~~r~~'ii~ti;:d:~-s~~~~: ~=== Corporate stock 4s __ May 1957 ____ New York State--* Highway Imp. 4s ___ Mch. 1958 ___ _ TenneSS<!e-New settlem't 3s.1 91D ___ _ Virginia-Funded debt 2.3s ______ __ _ 6s d eterred Brown Bros. & Co . certificates ________________ ~21:? 26 ---- 10508 107 1011410312 105 1U7as 102 1041g ---- ---- ---- 1061g 1071: 10134 103 LOtil210778 !02 10314 ---- ---- 107 10 14 10212 l03'l8 10(;58 10;3.i 1023g lOJ l2 ---- 10714 l lJ lOJI~ 10412 10608 111 ]OJI: 1J412 -- - - 108 10-l 108 lO-! ___ _I ____ ---- ---- ---- --- - ---- ---- ---- 110 23 26 27 1093_. t093s 1091 2 !0938 1091: 10938 1091 ? 109a8 1091~ 10u ---- 94 :15 96 96 ---\.15 \)5 \)-, ---- - - -- ---- ---- .. ~ \J2 90 91 27 261~ 371x 3312 {3 3S 401.i :Jlil-1 38 * For all New York City and New York State bonds buyer pays accruec Interest in adjition t:> prl:e 1nc.irate-d. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 11 Hs 1043.i 1113-1 ---- lll 113 10:3.1 10434 111 112 1041410434 LlO 11 .. ---- --- ·· 110711 104 111 104 1125t 1043i; 1123~ 1043-1 11131 11212 10414 1C43g 112 1123s 1041~ 10412 37 43 rnn1 i8i~ngr~: ---- ---- === J === ==== ==== ==== m~~ _ ___ ,vhi L,1,~ lOlns 10'.!3g 101341031g 10234 10314 ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ ___ _ ____ L09 I ll C 1o;a.j lO:.ll.i 109 llll-1 1 ~0-"lg 1041~ -10-!38 l v4=>i, 104311 lU41; 104 10\ll~ tO;a8 10Jl-11091 4 111·:5 ll ,3-1 10411 104 10-ll r, IU4131043-1 ---- 110 :l71.i :.;J 3) 4i> TRAFFIC RAILROAD AND PRICES. RAILWAY STATISTICS-STOCK AND BOND PRICES. THE GROWTH OF THE RAILROAD SYSTEM. In a very comprehensive article on pages 73 to 75 of this publication, we furnish an elaborate review of the course of earnings of United States railroads for the calendar year 1908, with the influences and conditions bearing upon the same. In the present article we aim to furnish, through statistical tables, a sketch or outline of the growth and development of the railroad system in the past, year by year . The Inter-State Commerce Commission, which was established in 1887, has from the first collected elaborate statistics regarding the railroads-their traffic, income, capitalization, rates, &c.-and has from time to time enlarged their scope. Hence there is now available a body of data of great usefulness covering a long period 0f time. The work of compiling the returns has throughout been under the direction of Prof. Henry C. Adams. The figures are made up for the fiscal year ending on June 30, and as it takes about eighteen months after the close of the period before the complete report, with its extensive mass of The first statistical report of the Inter-State Commerce Commission was for the year ending June 301888, but naturally the early returns were somewhat incomplete. MILEAGE OF THE ROADS. We begin by showing the length of road in operation at. the end of each fiscal year on June 30. RAILROAD CONSTRUCTION YEARLY AND TOTAL MILEAGE l!\ OPERATION. eral Year endino OftiJune 30 . cers 1907 ___ 6,407 1906 ___ 6,090 1905 ---5,536 1904 ---5,165 l!l03 __ -4,842 1902 __ -4.816 1901 __ -4,780 1900 ---4,916 1 99 ---4,832 l 98 ---4,956 1897 ,_-4,890 1896 ---5,372 1895 ---5,407 l 94 ---5,257 1 93 --- 6,610 1 92 - -- 6,104 1 91 ---5,271 1890 ---5,160 LENGTH OF ROAD IN OPERATION. Information, How Obtained. Whole Uniuct SUI.ta Olticial Returns Urwtfl Figures. ToUll. Incre ase for Year. - - - - - - - - - - -1- - - - - -1- - - - - -1-- - - 1907 l\J06 1905 1904 1903 1!102 1901 1900 l 99 l 9, I 97 t. 96 I 95 l 94 1893 1892 1891 IR90 June 30. -------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------·--- ---- Miles. 227,670.85 222,571.52 217,017.68 212,577 .57 207.186.84 201.672.83 196,075.07 192,940.67 188,277.49 185,370.77 182,919.82 181.153.77 179,175.51 176,602.61 170,332.30 165,690.97 164,602.79 1.~CJ.271.74 Miles. 2,280.34 1,791.6/'i 1,083.36 1,326.77 790.38 799.02 1,162.37 405.11 1.017.17 1.025.55 1,508.65 1,622.86 1,481.96 2,105.94 6,128.77 5,872.55 3,799.95 4,325.:-H Miles. 229,951.19 224,3ti3 .17 218,101.04 213,904.34 20/,977.22 202,471.85 197,237.44 193,345.78 189,294 66 186,396.32 1 4,428.47 182,776.63 1 0,657.47 178,708.55 176,461.07 171.563.52 168,402.74 163.597.05 Miles. 5.588.02' 6,262. 13 4,196.70. 5,927.12 5,505.37 5,234.41 3,891.66, 4,051.12 2.898.34 1,967.85 1,651.84 2,119.16 1,948.92 2,247.484,897.55 3.160.78 4,805.69· 5.838.22 The foregoing relates wholly to the length of road or line in operation. In the following is shown the length of single track, second track, third track, fourth track and of yard tracks and sidings. The .figures in this case are based on the mileage for which operations were reported each year, and in a few instances use has been made of the average length of operated line rather than the actual mileage in details, is ready for public distribution, the latest full re- operation on June 30. turns are for the twelve months ending June 30 1907. SUMMARY OF SINGLE TRACK . 2D, 3D AND 4TH TRACKS, YARDS AND SIDINGS. The statistics of the Government are now everywhere accepted as authoritative, and in the series of tables given Total. Length. of Length. Of Le'(Jth of Le'gth of y aT<l8 &: Whole below the figures are all derived from the yearly reports of Track. United St.at.es Single Tr'k 2d Track 3d Track 4th Tr'ck Sidings. --the Commission, though we do not always present them in - - - - - - -1- - - - - - - - - - - - - - - - - - -Miles. Mtlu. Miles. M iles. Miles. Miles. June 30. the precise way in which Mr. Adams gives them. There is 1907 -------------- 227,454 .83 19,420.82 1,960.42 1,389.73 77,749.46 327,975.26 just one table where the information has been derived from 1906 _______________ 222,340.30 17,936.25 1.766.07 1,279.66 73,760 .91 317,083.19 1905--------------- 216,973.6117,056.301,609.63 1.215.53 69,941.67 306,796.74 a different source. We refer to the table we are now about 1904______________ 212,243 .20 15,824.04 1,467.14 1,046.50 66,492.46 297,073.34 to give, showing the miles of new track laid each year. In 1903 _______________ 205,3 13.54 14,6 1.03 1.303.53 963.36 61,560.06 283,821.52 1902 _______________ 200,154.56 13,720.72 1,204.04 895.11 58,220.93 274,195.36 that case the figures are taken from the annual volumes of 1901--------------195,561.92 12,845.42 1,1 53 .96 876.13 54,914. 6 265,352.29 Poor's Manual. In this way we get data covering the calen- 1900 _______________ 192,556.03 12.151.48 1.094.48 829.29 52,153.02 258,784.30 _______________ 187,534.6 11,546.54 1,047.37 790.27 49,223.65 250.142.51 dar year and are able to carry the comparison back to the 11 99 9 --------------- 184,648.26 11,293 25 l 009.65 793.57 47,5 9.09 245,333.82 early days of railroad history. The following is the table 1 97 --------------- 183,2 4.25 11,018.47 995.79 780.48 45,934.46 242,013.45 l 96 --------------- 18 1.982 .64 10,685.16 !190.45 764 .15 44,717.73 239.140.13 referred to. It indicates the new con truction each year, 1895--------------10,639.96 975.25 733 . 12 43,181.32 233,275.90 and the aggregate length of road at the end (Dec. 31) of the 1894 _________ ______ 177,746.25 175,690.96 10,499.30 953 . 16 710.99 41.941.37 229,795.78 93 _________ ______ 176.461.07 10,051.36 912.98 668.46 42,043.40 230.137.27 year. It will be noticed that the changes in total mileage 11892 _______________ 171.563.52 9,367.21 852 .70 626.47 :-19,941.45 222,351.35 from year to year do not agree with the additions through l 91-------------- 168,402.74 8,865.7 1 813 . 13 749.51 37,318 05 216,149.14 new construction. This is due to the fact that the Manual 1 90 ______ _________ 163,597.05 8,437.R5_2!j_O .RR 561.1-ll ~5 .255.16 208.f\12.55 finds it necessary to make adjustments and corrections of past MEN EMPLOYED ON RAILWAYS A D THEIR WAGES. mileage and to the further fact that some old mileage is The Commission collects very extensive statistics regardabandoned from time to time. It is of course much too early railroads. The table below shows to have Poor's figures for 1908, but, taking the new track ing the employees of the of such employees. laid in that year at 4,500 miles , there were on Jan. 1 1909, the number and classes NUMBER OF EMPLOYEES IN SERVICE OF THE ROAD. roughly, 232,500 miles of railroad in the country. Oen- Mties of Years. New Road Buitt. 1830 ___ _ ___ 1831_ ______ 1832 _______ 1833 _______ 1834 __ __ ____ 1835 _______ 1836 _______ 1837 _ _ _____ 1838 _______ 1839 ______ _ 1840 ______ _ 1841 _______ 1842 _______ 1843 _______ 1844 _______ ---_ --- __ 1845. 1846 ____ 1847 ____ ___ 1848 ______ _ 1849 _ ___ - -1850 ____ __ _ -- _ ·- - -_ 18511852 ______ 1853 _______ 1854 _______ 1855 _______ 1856 ______ _ 1857 _______ 1858 _______ 1&59 _______ 1860 _______ 1861 ______ _ 1862 _____ _ 1863 ______ . 1864 ______ _ 1865 _______ 18 66 ______ _ 1867_ ______ 1868 _______ Jl,ftles in Operati on End of Year. ---- ---- - 72 23 95 134 22!) Hil 380 6:i:i 1, 00 1' 1,273 1,4.97 1,913 2 .•'1 0 2 2,818 3,:i,'15 4,02 6 4,185 4,;177 4,1\33 4,930 5,5!l8 5,1196 7,365 9,021 10,9 2 12,908 15,360 16,7211 18,374 22,016 24,503 26,968 28,789 :10,826 31,286 32,]20 33,170 33,00R :15,085 36,ROl 39.2:iO 42,229 253 4fl 5 17f> 224 416 380 516 717 401 159 192 256 297 668 398 1.360 1,656 l ,Ofll 1,926 2,452 1,:160 1,654 3,642 2,487 2,465 1,821 l ,846 6fil 834 1,050 7,'18 1,177 1,716 2,440 2,979 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Years. 186fl _ ____ __ 1870 ______ _ 1R7L ____ [87:! ____ -- . 1873 ______ _ 1874 _____ __ 1875 ______ _ 1876 _____ __ 1877 ______ _ 1878 ______ / 187!) _____ __ 11880 ___ ___ . 1881_ __ -188.2 _ _ __ __ 1883 _______ l/l.84 ______ _ 1885 _ ____ -1881\_ ----- 1887_ ___ -- 1888 _____ __ 1880 ______ _ 1891)_ ___ _ _ 1801_ _ _____ urn2- ______ 1893 ______ _ 1804 ____ _ -1895 __ -- --1896 ____ __ _ 1897 ______ _ 1/HJ8. _____ _ rn90 _______ 1900 ____ ___ 190L _____ _ 1002 _______ 1903 _______ 1904 _ -- _ -- 190!)_ - - --- 1006 ______ _ 1907 _ ______ 1908 _____ __ Miles of NewR oad 1'.!liles tn Operatton Ruil t. Encl nf Y,·ar. 4,61 6,(l 7,3 4(\.11 -14 52,9 2 2 60,2 0 3 f\6,171 70,268 72,385 74,0911 76,808 79, 082 81,747 86,556 93,262 103,108 114,677 121,422 125,345 128,32,) 1:lli,3:18 14A,214 156,114 161,271\ 166,654 170,729 175,170 177,516 179,415 181,065 182,769 184,591 186,810 190,818 1!)4 ,262 lOR,743 202,938 207 .33:i 212,394 217 ,341 222,766 2211.128 232,500 -- 5,8 4,00 2,11 1,71 2,71 2,28 2,62 4 ,74 6,87 0,77 11,59 6,81 3,97 3,1.3 8 ,12 12 ,08 7 .06 5.69 5,65 4,62 4,58 2,78 2.26 l ,fl:l 2,06 2 .16 3,l!l 4,51 4,15 4,01 5,07 4,67 5,00 5,05 11,64 5,49 50 .!! Y ear Carendino penJune 30. ters. 1907--70,394 l\l06 __ 63, ' 30 1905--56,01.<9 1904--53,646 1903--56,407 1902--51 ,698 1901--48,946 1900--46.666 1899--42,501 189 --40,374 1 97--37.740 1896--38,846 1895--35,564 1894--36,328 1893--41,878 1892--40,080 1891--37,718 1890- - 37,936 Other Otficers. 7,549 6,705 5,706 5,375 5,201 5,039 4,923 4,669 4,294 3,925 3,830 2,718 2,534 1.778 ------------- O!1ice Clerks. 65,700 57,210 51,284 46,037 42,218 37,570 34,778 32,265 29,371 26,845 26,837 26,328 26,583 24,779 27,584 25,469 23,879 22,239 Station Aoents. 35,649 34,940 35,245 34 ,91 34,892 33,478 32,294 31.610 30,787 30,699 30,049 29,723 29,014 28,199 28,019 26.829 26,192 25,665 Other Section Shop- Foremen. men. 221,656 41,391 199,940 40,463 176,348 38.217 159,472 37,609 154,635 37,101 136,579 35,700 120.550 33,817 114,773 33,085 103,937 31.690 99,717 30,771 91,415 30,414 95,613 30,372 88,661 29,809 84,359 29.660 93,709 29,699 87.615 28,753 83, 65 27,890 80.733 27.129 Other Station men. 152,929 138,778 125,180 120,002 120,724 105.433 94,847 89,851 83,1110 78,603 74,569 75,919 73.569 71.150 75,181 69,511 67.812 66.431 En,ginemen. 65,298 59,855 54,817 52,451 52,993 48.318 45,292 42,837 39,970 37,939 35.667 35.851 34,718 35,466 38,781 36,739 34,801 33.354 Other Switch Track- Tenders, &c. men. 367,277 53,414 343,791 49,659 311,185 45,532 289,044 46,262 300,714 49 .961 281,075 50,489 239,166 47.576 226,799 50,789 201,708 48,686 184,494 47,124 171,752 43.768 169,664 44,266 155,146 43,158 150,711 43,219 180,154 46.048 171,810 42,892 l fi3,913 40.457 157,036 37,669 F iremen. 69,384 62 .678 57,892 55,004 56.041 50,651 47,166 44,130 41.152 38,925 36,735 36,762 35,516 36,327 40,359 37,747 36,277 34,634 Conduetors. 48,869 43,936 41,061 39,645 39,741 35,070 32,092 29,957 28,232 26,876 25,322 25.457 24,776 24, 23 27,537 26,042 24,523 23,513 Other Trainmen. 134,257 11!1,087 111,405 106,734 104,8 5 91,383 84,493 74,274 69,497 66,968 63,673 64,806 62,72 1 63,417 72,959 68,732 64,537 61,734 Machin,. ists. 55,24451,253 47,018 46,272 44,819 39,145 34,698 32.831 30,377 28,832 28,229 29,272 27,740 29,245 30.869 28,783 27,388 27.601 T eleg . Totat Opera- Float EmAll ing tors, Equip. Others. ployees &c. 39,193 9,139 228,324 1,672,074, 36,0!10 8,314 198,736 1,521,355 31.963 8,753 178,905 1,382,196 30.425 7,495 160,565 1.296.121 30,984 7,949 168,430 1,312,537 28,244 7,426 147,201 1,189,315 26,606 7,423 131,722 1,071,169 25,218 7,597 125,386 1 ,017,653 23,944 6,775 107,261 928,924 98,673 874,558 22,488 6,349 90,725 823,476 21.452 6,409 88,467 826.62021,682 5.502 83,355 785,034 20,984 5,779 779,608 85,276 22,145 7,469 22,619 fi,146 105,450 873,602' 98,007 821.415-20,970 5,332 784,285 , 93,543 20.308 5,911 749,301 3,300 18,968 6.199 The changes from year to year in the average daily compensation of the different classes of employees is indicated in-, the table which follows: '1 RAILWAY STATISTICS . AVERAGE D AILY COMPENSATION OF R AILWAY EMPLOYEES. Class- 1907 .11906. 1905. 1904 . 1903. 1902. 1901. 1900. 1899 . '98. '97 . '96 . '95. '94. $ $ $ $ $ $ $ $ $ $ $ s $ -s ·Gen. off_ 11 93 ll 81 11 74 11 61 11 27 11 17 10 97 10 45 10 03 9 73 9 54 3 19 9 01 9 71 Other off. 5 99 5 82 6 02 6 07 5 76 5 60 5 56 5 22 5 18 5 2 1 5 12 5 96 5 85 5 75 Ofl. cl'ks. 2 30 2 24 2 24 2 22 2 21 2 18 2 19 2 19 2 20 2 25 2 18 2 21 2 19 2 34 Sta. agts. 2 05 1 94 1 93 1 93 1 87 1 80 1 77 1 75 1 74 1 73 l 73 1 73 1 74 1 75 0th.St.ID. 1 78 1 69 1 71 1 69 1 64 1 61 1 59 1 60 1 60 1 61 1 62 1 62 l 62 1 63 Eng.men. 4 30 4 12 4 12 4 10 4 01 3 84 3 78 3 75 3 72 3 72 3 65 3 65 3 65 3 61 Firemen_ 2 54 2 42 2 38 2 35 2 28 2 20 2 16 2 14 2 10 2 09 2 05 2 06 2 05 2 03 Conduct_ 3 69 3 51 3 50 3 50 3 38 3 21 3 17 3 17 3 13 3 13 3 07 3 05 3 04 3 04 0th. tr'm 2 54 2 35 2 31 2 27 2 17 2 04 2 00 1 96 1 94 1 95 1 90 l 90 1 90 1 89 Mach'n's. 2 87 2 69 2 65 2 61 2 50 2 36 2 32 2 30 2 29 2 28 2 23 2 26 2 22 2 21 ·c arpen'rs 2 40 2 28 2 25 2 26 2 19 2 08 2 06 2 04 2 03 2 02 2 01 2 03 2 03 2 02 '0th.shop 2 06 1 92 l 92 1 91 1 86 1 78 1 75 1 73 1 72 1 70 t 71 l 69 t 70 1 69 , ec.form. 1 90 1 80 l 79 1 78 1 78 1 72 1 71 1 68 1 68 l 69 l 70 l 70 l 70 1 71 ·Oth.tr'ck. 1 46 1 36 1 32 1 33 1 31 1 25 1 23 1 22 1 18 1 16 1 16 1 17 l 17 1 18 •Sw.ten.& 1 87 1 80 1 79 1 77 1 76 1 77 1 74 1 80 1 77 1 74 1 72 1 74 1 75 1 75 Tel.op. &c 2 26 2 13 2 19 2 15 2 08 2 01 1 98 1 96 1 93 1 92 l 90 1 93 1 98 1 93 Float.eq_ 2 27 2 10 2 17 2 17 2 11 2 00 1 97 1 92 1 891 89 l 86 1 94 1 911 97 All others 1 92 1 83 1 8:i 1 82 1 77 1 71 1 fl\} 1 71 1 /\<I I 1\7 1 1\4 I f\5 l 1\.51 65 CAPITAL PAYI G DIVIDENDS. A very large amount of the capital of the railways is still unproductive. It should be understood that in the following the column showing aggregate a mount paid in dividends gives the gross amount, including payments by one railway ,c orporation to another. The net sum paid each year is very :much less. Thus, while for 1907 the gross amount paid was ::$308,088,627, it will be seen by reference to the second .table on the following page that the net amount paid was ,only $227,394,962. ,DIVIDEND-PAYING AND NON-DIVIDEND-PAYING STOCK AND DEBT. ·- ·Whole United Stock Funded D ebt Stock Dtvidcnds Paid. Receiving Dividends Receiving Nothtng . Receiving Noth'g. SI.ates. June 30. 1% 1 I I Amount. I % s % l~ .o~~ Debt. 1 308,088,627 6.23 4,948,756,203 67 .27 2,408,105,488 32.73 315,927,894 3.76 ,1907 ____ 272,795,974 6.03 4,526,958 ,760166.54 2,276 ,801 ,333 33.46 287,954,851 3.82 l\l06 ---4,ll9,086,71462.84 2,435.470,337 37 .16 449,100,396 6 .36 1905---3,643,427,319 57.47 2,696,472.010 42.53 300,894,215 4.49 1904 ---1903 ---- 196,728,176 5.70 3,450'737 ,869156.06 2,704,821,163 43 94 272,788,421 4.33 1902 ---- 185,391.655 5.55 3 ,337,644,68155.40 2,686,556,614 44.60 294,175,243 4.89 '1901---- 156,735,784 5.26 2,977,575,179 51.27 2,828,991.025 48.73 361,905,203 6.23 ,1 900 ---- 139,597,972 5.23 2,668,969,895 45.66 3,176,609,698 54.34 378,937,806 6.78 1899 ---- 111.009,822 4.96 2,239,502,545 40.61 3,275,509,181 59 .39 572,410,746 10.45 1.898---- 96,152,889 5.29 l.818,113,08233.74 3,570,155,239 66.26 852,402,622 15.82 1897 ---- 87,110,599 5.43 1,603,549,978 29.90 3,761,092,277 70.10 867,950,840 16.59 1896 ---- 87,603,371 5.62 1.559,024,075 29.83 3,667,503,194 70.17 860,559,442 16.26 '1895---- 85,287,543 5 74 1,485,618,453 29.94 3,475,640,203 70.06 890,561.460 16.71 1894 ---- 95,515,226 5.40 1.767,925,565 36.57 3,066,150,094 63.43 914,757,607 17 29 1893 ---- 100,929,885 5.58 1,809,600,846 38.76 2,859,334,572 61.24 743,015,132 14.39 [892 - --- 97,614,745 5.35 1.825,705,437 39.40 2,807,403,326 60.60 777,719,420 15.56 1891 ---- 91.117,913 5.07 1.796,390,636(0.36 2,654,258,39159.64 473,925,526 9.90 1890---- 87,071,613 5.45 1.598,131.933 36.24 2,811.526,552 63.76 No statistics. 1889---- 82,110.198 5.04 1.629,750,927 38.33 2,621.439,792 61.67 775,851.7951 .19 l888 ---- 80,238,065 5.381.490,267,149 38.56 2,374.200.906 61.44 827 .554.~1!l 21.Ml Note .-The per cent of dividends paid is figured by the Commission on the diviaenapaytng stock onl,y and Includes holdings of stock by one railroad In another. m:m:m tig 1 CAPITALIZATION OF RAILWAY PROPERTY. Changes in classifications and in definitions served greatly to swell the gross total of railway capitalization in 1907 and to destroy comparisons with previous years. We give the figures, however, for what they are worth. CAPITALIZATION OF RAILWAY PROPERTY-DEBT AND STOCK. Whole - - - - - - - - - -.F unded D e b t - - - - - - - - - Debt per M. Total Equ.tpment. Income Miscellaneous U.S. of road. Debt. Tr11$ts. Bonds. Obltgattons. Bonds. June S S $ $ S 30 1907 __ 6,472,839,323 1,616,427,904 306,244,476 329,773,289 8,725,284,992 ----1906 __ 6,266,770,962 973,647,924 301,523,400 224,719,099 7,766,661,385 36,213 786,241,442 253,707,699 186,302,906 7,250,701,070 34,625 1905_ -6,024,449,023 1904--5,746,898,983 723,114,986 229,876,687 173,334,694 6,873,225,350 33,429 1903 __ 5,426,730,154 640,704,135 234,016,821 142,980,116 6,444,431,226 32,317 1902--5,213,421,911 564,794,588 242,556,745 89,208,425 (1,109,981,669 31,371 545,780,485 218,872,068 68,116,723 5,881,580,887 30,963 190L_5,048,811,611 1900_-4,900,626,823 464,983,341 219,536,883 60,308,320 5,645,455,367 30,210 1899_-4,731 ,054,376 485,781,695 260,048,753 42,058,348 5,518,943,172 30,289 1898_-4,640,762,632 486,977,279 262,194 ,688 40,351 ,111 5,430,285,710 30,289 1 97 --4,539,911,595 430,718,303 259,847,154 39,888,767 5,270,365,819 29,546 1896--4,517,872,063 457,735,531 314,425,977 50,304,931 5,340,338,502 30,126 1895--4,641,755,548 445,221,472 242,603,226 55,915,327 5,385,495,573 31,048 1~4--4,593,931,754 456,277,380 242,403,681 63 ,970,204 5,356,583,019 31,233 1893_-4,504,383,162 410,474,647 248,132,730 62,699,282 5,225,689,821 31,545 1892_-4,302,570,993 392,107,940 303,205,522 55,153,595 5,053,038,050 31,125 189L-4,081,621 ,675 379,600 ,890 324,288,690 54,755,157 4,840,266,412 30,012 1890_-4,123,921,557 324,242,541 76,933,818 49,478,215 4 ,574,576,131 29 ,249 - - - - - - - - S t o c k - - - - - -- - -Agg. stk. & debtPer M. Per mile Whole of road . Total. of road. Total. Preferred. Common. U, S. S S S $ S June 30. 1907--5,932,948,772 1,423,912,919 7,356,861,691 ---- - - 16,082,146,683 -----1906 __5,403,001,962 1,400,758,131 6,803,760,093 31,723 14,570,421.478 67,936 1905--5,180 ,933,907 1.373,623,144 6,554,557,051 31,301 13,805,258,121 65,926 1904 __ 5,050,529,469 1.289,369,860 6,339,899,329 30,836 13,213,124,679 64,265 1903--4,876,961,012 1,278,598,020 6,155,559,032 30,869 12,599,990,258 63,186 1902 _ _4,722,056,120 1.302,145,175 6,024,201.295 30,930 12,134,182,964 62,301 1901--4,475,408,821 1,331,157,383 5,806,566,204 30,568 11.688,147,091 61,531 1900_-4,522,291,838 1,323,287,755 5,845,579,593 31.280 11,491,034,960 61.490 1899_-4,323,300,969 1,191.710,757 5,515,011,726 30,267 11,033,954,898 60,556 1898_-4,269,271,714 1.118,996,607 5,388,268,321 30,054 10,818,554,031 60 ,343 997,585,598 5,364,642,255 30,074 10,635,008,074 59,620 1897 __4,367,056,657 969,956,692 5,226,527,269 29,484 10,566,865,771 59,610 1896 _ _4,256,570,577 tm:~~~:m ~i:m rn:jtg:m:m ii:~ig mt:tm:m:m ~gg:m:!&g 686,925,816 4,668,935,418 28,184 10,506,235,410 63,421 m:!ttm tm:~~g:m ~~:;ti 18:m:m:m ~~:m mtJm:m:m 606,373,542 4,409,658,485 28,194 9,437,343.420 60,340 1890 __ 3,803.284,943 - - - - - - -B onds-- - - - - - - - -8 t o c k - - - 'J ·otal N ot Owned Owned by N ot Owned Owned by Whole Bonds. RR . Corp'tons by Railroads, u. s. RR. Corp'ns by R atlroads. s $ $ June30. 18\!9_ - - 394,414,868 4,336 ,(i39 ,508 4,731,034,376 1,207,498,299 4,307,513,427 189 ---3 ti9,522 ,097 4,271 ,240,535 4,640,762,632 1,151,864,158 4,236,404,163 1897 ___ 403,978,556 4,135,933,039 4,539,911,595 1.062,957,620 4 ,301.684,635 1896 ___ 400,111,363 4,117,760,700 4,517,872,063 1.101,235,551 4,1 25,291,718 1895- __ 395 ,542,915 4,246 ,212,633 4,6 41.755,548 1.051.638,619 3,909 ,620,037 1894_ - -415,314,637 4,178 ,6 17,117 4,593 ,931.754 1.128,744,033 3,705,331,626 1893---427,237,894 4 ,077,145,268 4,504 ,383,162 1.135,784,339 3,533,1 51.079 1 92.--327,170,787 3,975,400,206 4,302 ,570,993 1.064 ,286,266 3,568 ,822497 945,227,541 3,505,421,826 1891---337,698, 175 3,743 ,923.500 4,0 1,62 1.675 963,853.759 3,445,804,476 1890- - -443 ,053 ,242 3,680,868,315 4,123.921.557 -----AutJTeuate Stock and D ebi:- - - - Total Stock Not Owned /)y Owned /Jy RR. Total Stock Whole and Bonds. Railroads. Corporations. U. S. Oulatanding. S S S June 30 mt::H8bii:tM 1905-- -6,554,557 ,051 2~898.-480-.829- 1o~iii.o:so~22i;- 2,638 ,1 52,129 2,501,330,601 2,318 ,391.953 2,208 ,518 ,703 2,205,497,909 1.943,050,349 1.601,913,167 1.521.386 ,255 1.4 66,936,176 1.501,346,914 1.44 7, 18 1,534 1.544 ,058 ,670 1.563,022,233 1.391,457,053 1.2 2,925,716 1,406,907,001 1,151.972.901 1904--- 6,339 ,899,3 29 1903 __ _6,155,559,03 2 1902 ___ 6,024,201,295 1901---5,806,566,204 1900---5,845,579,593 1899---5,515.011,726 1898---5 ,388,268,321 1 97 ___5,36 4.6 42,255 1896---5,226,527,269 1895-. _4,96 1,258 ,656 1894- - _4,834,075,659 1893---4,668,935,418 1892 __ _4,633,108.763 1891---4,450,649,027 1890-- -4,409,658,485 1889---4,251.190,719 9,940,853,945 9,585,467,711 9, 263,897, 233 9,0211,104,413 8 ,649,879,906 8,803,156,067 8,644,152,935 8,507,644,698 8,437,617,674 8,243,052,418 8,155,832,670 7,883,948,743 7,610,296,347 7,544 ,222,703 7,249,344,986 7,126,673.041 7,366,745,677 rn:g~g:m:8~: 12,579,006 ,074 12,0 6,7118,312 11,582 ,289,186 11,237.623,206 10,855,377,815 10,746,206,416 10,246,066,102 10,029,030,953 9,904,553,850 9,744,399,332 9,603,014,204 9,428,007,413 9,173,318,580 8,935,679,756 8,532,270,702 8,533,580,042 8,518.718,578 TRAFFIC MOVEME TS-PASSENGER AND FREIGHT. TRAFFIC OF U. S. RATLROADS-PAS.'3ENGER AND FREICHT. Whole - - - - - - - - - - F reight Service- - - - - - - - - - - Tons moved Tons l 1W. Miles run Average Mile,a run t,y U. S. Tons moved freighi cars. per!Yl.road by /'t ir'ns. tr'n-lo'd one mile. June 30. less dupli 'ns 1907 ____ 977,489,440 236,601,390,103 1052119 629,995,723 357.35 17,122,259,754 1906 __ __896,159 .4 5 215,877 ,551,241 982,401 594,005, 25 344.39 lti,5 9,958,024 1905 - - - _784,920,188 186,463.109 ,510 861.306 546,424,405 322.26 15,082,070,763 1904- ___ 714.375,339 174,522,089,577 829,476 535,090,971 307.76 14,353 ,650,056 190:\ __ __714 ,767,821 173,221.278,993 855,442 526,312,433 310.54 14 ,193,71S,005 1902 ____ 657,846,807 157,2 9,370.053 793.351 499,711.176 2116.47 13,326,514 ,369 1901----583,692,427 147.077.136,040 760,414 491.942,041 281.26 12,811.211,703 1900----583,351.351 141.599,157 ,270 735,366 492,568,486 276.85 ------------1899 ____ 501.527.375 123,667,257.153 659,565 507.841.798 243.52 ------------1898---- ---------- 114,077,576,305 617,810 503,766,258 226.45 ------------1897 --·- ---------- 95,139.022,225 519.079 464,962.242 204.62 ------------1896---- ---------- 95,328,360,278 523,832 479,500.170 198.81 ------------18\!5 ____ ---------- 85.227,515,891 479,490 449,291.238 189.69 ------------1894 ____ ---------· 80,335,104,702 457,2.52 441\,807 223 179 .80 · -----------1893 ____ -------·-- 93,588.111,833 551.232 508,719,506 183.97 ------- - ----1892 --- - - - - - - - - -- - 88.241.050,225 543,365 485,402,369 l!:!1.79 _. _____ --··--1891 ---- ---------- 81.073.784,121 502,705 446,274 .508 181.67 --------· ---1890 ____ ---- - ----- 76,207.047,29 487.245 435,170,812 175.12 __ --------Whole -------Passenger Service--------- Aggregate Rev . U.S. Passengers Pass. carried Pass. IM. Miles run Pass'uers Train mileage per M.r'd. by pass.tr. per tr'n vass. &: fre'it. one mite. carried. June 30. 1,171,922,997 51 1907 ____ 873.905,133 27,718,554,030 123,259 509,328,042 1.105, 77,091 49 1906 ____ 797,946,116 25,167,240,831 114,529 479,037,553 1,038,441,430 48 1905----738.834,667 23,800,149,436 109,949 459,827,029 1.007,529,542 46 1904----715,419,682 :H,923,213 ,536 10 -1 .198 440,464.866 982,946,284 46 1903 ____ 694,891.535 20.915,763,881 103,291 425,142,204 936,148,675 45 1902----649,871:l,505 19,689,937,620 99 .314 405,613,231 90~.092,818 42 1901----607,278,121 17,353,588,444 89,721 385,172,567 886,781.590 41 1900----576,865,230 16,039,007,217 83.295 363,521.596 ---------41 1899 ____ 52~.176,508 14.591.327,613 77,821 354,416,916 ---------39 1898----501.066,ti81 13,379,930,004 72,462 341.526,769 ---------37 1897----489,445.198 12 ,256,939,647 66,874 ~35.018,ti05 _________ _ 39 1X96----511.772,737 13,04\l,007,233 71.70n 332.854,218 ---------· 38 1895----507,421.362 12,188,446.271 68,572 317,565,615 _________ _ 44 1894----540,6S8,199 14,289,445,893 81.333 326,503,219 ---------42 1893----593,560,512 14,229,101.084 83.809 335,618,770 ---------42 1892----560,958,211 13,362.898.299 82,285 317.538 ,883 ---------42 1891----531.183.998 12,844,243.881 79,642 307,927,928 ---------41 1890----492,430,865 11.847.7%.617 75,751 285,575,804 PASSENGER AND FREIGHT RATES AND TRAIN-MILE EARNINGS. RATES PER TON AND PER PASSENGER AND PER TRAIN MILE. Rate Rate Train Earnings. Year Ending per pas. per ton per Passenger per June 30. mile. mile. per mile. Freight per mile. AU Trains-Passenger &: Freight. Earns. per Cost per Profit per train mile. train mile. ir'in mtle. - - ----- - - - - - - - - ---- - - - Cents. Cents. $ $ s $ 1.25.805 2.74.023 2.17.741 1.46.993 .759 .70.748 1907 ------ 2.014 1.20.338 2.60.804 2.07.547 .748 .70.487 1.37.060 190ti - --- -- 2.003 .766 1.15.954 2 .49.689 1.97.906 1.32.140 .65.766 1905 ------ 1.962 1.14.135 2.42.703 .780 1.93.960 1.31.375 .62.585 1904 -- - --- 2.006 1.11.644 2.43.967 1.91.380 .763 1.26.604 .74.776 1903 - - - - -- 2.006 1.08.531 2.27.093 .757 1.82.350 1.17.960 .64.390 1902 ------ 1.986 1.02.721 2.13 .212 .750 1.72.938 1.12.292 .60.646 1901 -- - --- 2 .013 1.01.075 2.00.042 .729 1.07.288 1.65.721 ,58.433 1900 ------ 2.003 1.01.615 1.79.035 1.50.436 0.98.390 .724 .52.046 1899 ----- - 1.978 .753 0.97.419 1.73.112 1.45.449 0.95.635 .49 .814 1 98 ------ 1.973 .798 0.93.917 1.65.358 1.38.194 0.92.918 .45.276 1897 -----· 2.022 .806 0.98.591 1.63.337 1.39.567 0.93.838 .45.729 1896 ------ 2.019 .839 0.97,870 1.61.190 al.37.723 al.18.693 a.19.030 1895 -- - --- 2.040 .860 1.36.958 0.93.478 1-04.897 1.55,744 .43.480 1894 ------ 1.986 1.06.984 1.63.018 1.43.475 0.97.426 .879 2 .111 .46.049 1893 ______ 2.126 1892 -----.898 1.06.873 1.64.611 1.44.649 0.96.580 .48.069 1.06.111 1.63.683 .895 1.43.345 0.95.707 .47.638 1891 -- - --- 2.142 1.08 .641 1.65.434 1.44.231 0 .96.006 .941 .48.225 1890 ------ 2.167 1.06.287 1.65.377 1.39.191 0.94.868 .922 .44.323 1889 ------ 2.165 1.13.900 1.65.700 1888 - - --- - 2 .349 l.001 a These are reported as " revised figures;" originally earnings per train m11e for all trains were iriven as Sl.35 .947; cost per train mile, S0.91.829, which would leave a profit per train mile ot S0 .44.118. EARNINGS EXPENSES, CHARGES, DIVIDENDS. In bringing together the Commission's figures dealing with thE: earnings and disbursements of therailroads,someexplanation of the method pursued in thecompilationof the figures In view of the changes made in compiling the 1907 figures is necessary. The income statement is now presented in two firs t the tota ls are the aggregate of the figures reported by of capitalization, it would be particularly useful to know how form s . In the 0 1 much of the total represented investments by one company in r~er:~:gt ; ~ a:1~~spe~ dft~;:Po\ bl~incfii!.1:~~; ~j1~1f-!rct!~d~~pl1rr:tii~\:~~hneJ the shares or debt of another. Unfortunately all statistics th e railway s of the United States are treated as a single system, all duplica on that point are omitted from the 1907 report of the Com- ;~Y~ tig~;-e;;t Pt\~;nge!;.~:~di~~e~~~l;r~ ~~~~~fi.:~i:i~!t i~1e\~~rr::iJc1 mission. The remark is made, however , that $58 ,298 p er form t h e d ata extend back only to 1898 . We give the comparisons both wa.f~e ex t ent of the duplication involved in the first method, which ls mile would represent correctly the net capitalization. 1893 __ 3,982,009,602 OWNERSHIP BY OTHER ROADS-STOCK AND BONDS. ------Bandai------- ----Stock:---Not Owned Owned /Jy Total Not Owned Whole Oumed /Jy RR. Corp'wns 1)11 Railroad8. Bonds. U.S. RR. Corp'ns /Jy railroads. S S $ S $ June 30. 6,472,839,323 ----- - ------ ____________ 1907 ___ ------- - 1906 ___ 641,305,030 5,625,465,932 6,266,770,962 2,257,175,799 4,546,584,294 1905---568,100,021 5,456,349,002 6,024,449,023 2,070 ,052,108 4,484,504,9431 1904 ___ 558,472,242 5,188,426,741 5,746,898,983 1.942,858,359 4,397,040,970 1903 ___ 520,068,745 4,906,661,409 5,426,730,154 1.798,323,208 4,357,235,824 1902---498,373,449 4,715,048,462 5,213,421.911 1.710,145,344 4,314,055,951 1901---468,830,698 4,579,980,913 5,048,811.611 1.736,667,211 4,069 ,898,993 1'900---472,831,377 4,427,795,446 4,900,.6 26,823 1.470,218,972 4.375,360,621 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis avoided in the second, ls shown by a comparison of the item of income from other sources for the latest year. Altogether, the railways were in receipt of a non-op erating income of $286,583,942; but from the second form of s tatem e nt it appears that the "Clear income from investments" was only $60,626,333. The difference between the two amounts represents duplications and m easures the extent of inter-corporate payments. Similarly, the difference b et ween "Inter est on fund ed d ebt" in the old statement and "Net interest" in the new is arrived at by deducting from the aggregate of interest accrued, a s r eported by the different railways, the interest which the companies received from thek holdings of bonds in other roads. In like manner, "Net dividends " in th e new form means the aggregate of dividends declared ess the amount r eceived by the companies on their own holdings of stock . othe1 rallroads. YEAR END'G JUNE 30. 1907 Miles ot road ___________ 227,455 Gross Earnings- 1906, 222,340 1904. 212,243 s $ $ 1905, 216.974 1903. $ I 1902. 1901. - 1900. 195.562 192,556 205.314 I 200,155 $ s s 421 }04,592 392,963,248 351,356,265 323,715,639 39,835,844 38,453,602 37,752,474 41,709,396 34,253,459 31.121,613 28,416,150 38,331.964 8,202,982 8,858,769 9,821.277 8,161.022 1,338 .020 .026 1.201 .228 .845 1. 118 ,a43 .o 14 1.049 ,256 ,323 4,467 .025 4,846,718 4,065,457 3,345,912 36,282,917 46,702,131 1 38,339,384 36,729,104 90.496 54,000 54,000 114,377 1899. 1898. 1897. 1896. 1895. 1894. 1893. 1892. 1891 187,535 184,648 183,284 181,983 177,746 175,691 169,780 162,397 161,275 :s 291,112,993 s 266,970,490 s 266,562,533 $ $ $ $ s 286,805,708 $ Passenger earnings ______ Mall ________________ Express ____ _____ _____ Other earns. pass. trains Frgt~!r trains Miscell. earns. from oper'n Unclassified earnings _____ 564,606,343 510,032,583 472.694,732 444,326,991 45,426,125 44,499,732 50,378,964 47,371,453 45,149,155 51.010,930 57,332,931 41.875,636 10,914,746 11.314, 237 11.040,142 12,674,899 1823651998 1,640,386,655 1,450,772,838 1,379,002,693 5,645,222 5,080,266 4,568,282 59,741.198 52.319,148 49,986,011 138 ,601 262,889 ---------- ------- --- Total from operations __ Expenses- • Maint. of way & struc ___ Malnt. of equipment_ ____ Conducting transportation 2 589105578 2,325,765,167 2,082,482,406 1,975,174,091 1.900 846,907 l,726,380,2671,588,526,037 1.487 ,044,814 1,313,610,118 1.247,325,621 1,122,089,773 1.150,169,376 1,075,371.462 1,073,361,797 1.220,751.874 1. 171,407 ,343 1,096,761,395 ~e:r'ii~~lfrom 1tm:m 35,999,011 26,756,054 7,687,363 913,737,155 4,261.804 :33,990,940 64,798 251,135,927 33,754,466 24,901.066 6,629,980 772,849,314 4,209,657 28,384,004 225,359 34,608,352 25,908,075 7,224,000 876,727,719 4,683,205 31.110.423 93,357 32,379,819 24,880,383 6,691,279 786,615,837 3,885,890 28,574,237 579,398 285,349,558 30,059,657 23,035,300 6,187.899 699,490,913 3,545,198 25,518,742 174,530 301,491,816 28,445,053 23,631.394 6,455,778 829,053,861 3,848,344 27,732,053 93,575 26,861,143 22,148,988 5,826,438 799,316,042 3,926,196 26,375,854 146,974 281.178,599 24,870,015 21,594,349 5,382,848 736,793,699 3,061.606 23,817,697 62,582 $ 23,367,873 20,277,711 4,965,383 714,464,277 3,245,233 24,302,398 468,304 •·"'·"'·'"I 231.056,602 190,299.560 565,265,789 42,566,553 1,208,766 211,220,521 181,173,8 0 529,116,326 39,328,765 589,019 180,410,806 150,919,249 486,159,607 38,676,883 802,454 173,314,958 142,624,862 464,674,276 36,476 ,6 6 882,494 Total expenses ________ 1748515814 1.536,877,271 1.390,602,152 1,338,896,253 1.257,538,852 1,116,248,747 1.030 ,397 ,2 70 961,428,511 856,968,999 817,973,276 752,524,764 772,989,044 725,720,415 731.414,322 827,921,299 780,997,996 731.887 ,893 692 .093 ,971 525,616,303 162,885,071 456,641.119 148,713,983 429,352,345 138,202,779 369,565,00!l 125,090,010 377,180,132 129,024,731 349,651,047 132,432,133 341,947,475 142,816,805 392,830,575 149,649,615 390,409,347 141.960,782 364,873,502 133,911,126 359,783,661 126,767,064 343,544,907 368,061.728 !)70 ,952 ,924 65,404,655 8~T~iii:8e_~s~~= ======= 551,600 311,720,820 328,554,658 836,202,707 59,752,230 646,856 275,046,036 288,441.273 771,228 ,61i6 55,319,805 566,372 266.421.774 240,429,742 702 ,509,818 47,767,947 409.571 261,280,454 267 .184,739 758,238.681 51.579,196 613,183 248,381.594 213,380.644 609,961.695 44,197,880 326,934 159,434,403 122,762,358 432,525,862 36,481,269 1,320,872 252,246,180 30,969,746 24,284,508 6,114,786 729,993,462 4,140,850 27,088,987 532,943 I I 260,786,453 1890. 156.404 160,344,950 133,381,998 442,217,582 36,083,285 961,229 143,976.344 113,788,709 431.148,963 35,907,017 899,382 143,669,386 112,894,526 394,513,035 79,771,497 565,878 169,258,376 136,875,909 435,465,575 85 ,548,837 772,602 164,188,701 128,712,016 406,726,649 80,683,378 687,252 153,671,576 117,047,895 384,385,458 75,926,707 856,257 152,718,837 114,038,756 354,189,220 70,221,050 926,108 Net from operations _____ 840,589 764 788,887,896 rncome !rom other source.~ 286,583,942 256,639,591 Total net income ______ 112717370() 1,045,527,487 691.880,254 231.898,553 636,277,838 212 ,933,990 643,308,055 205,687,4 0 610,131.520 196,323.629 923,778,807 849,211,828 848,995,535 806,455,149 737,875,216 688,501.374 605,355,102 567,555,124 494,655,019 506,205,063 482,083,180 484,764,280 542,480,190 532 ,370,1~9 498,784,628 486,550,725 Interest on funded debt __ 344,242.617 322,555,934 11,653,076 Int. on current liabilities_ 16,671,532 Rents paid ror lease or ro'd 128,766,452 122,290,911 571,431 Salaries & ma.Int. of org'on 648,835 Taxes __________________ 80,312,375 74,785,615 Improvements __________ 38,552, 90 49,042,631 Other deductions ____ ___ _ 68,517,817 79,441.561 Total ________________ f',77, 712,518 660,341.159 310,631.802 11.451.400 116,380,644 612,518 63,474,679 37.720,624 56,416.753 297,674.738 13,945,009 110,857,803 453,341 61.696,354 38,522,548 47,276,109 283,953,124 9 ,060,645 112,230,3 4 430,427 57,849,569 41.948.183 47,147,158 274,421.855 7.717,103 111.697, 122 527.Q38 54,465,437 34,712JJ68 42,637,299 262,094,838 5,526,572 112,644,822 532,299 50,944,372 31.938,901 32,682,094 252,949,616 4,912,892 101.951,319 520,102 48,332,273 25,500,035 27,074,690 251,158,087 7 ,102,847 94,406,737 595,192 46,337,632 13,070.045 28,529,749 246,126,691 7,073,953 92,391,008 443,325 43,828,224 6,847,905 30,524,597 247,880,230 249,624,177 7,844,336 8,469 ,063 87,505,302 92,972,322 508,598 545,468 39,970,791 43. 137 ,84:1 4,544,813 5,162,240 21.976,390 19,829,076 252,512,920 7,860,261 94,324.738 589,523 39,832,433 4,016,382 26,830,664 252,779,523 10.239,190 98,325,046 509,257 38,125,274 4,418,003 24,612,017 250,176,887 7,989,508 107,222,921 589,872 36,514,689 2,957,069 25,971,210 240,074,895 7,935,873 102,211,645 665,212 34,053,495 4,126,273 27,337,545 219,521,005 8,171,494 96,145,136 4,456,589 33,280,095 4,887,975 22,245,418 221.499,702 8,114.768 01.072,995 2,302,096 31,207,469 4,511,508 25,183,600 413,397,513 Int.,Rentats,Imp'ts.&c.- Income above charges ____ 449,461,188 Dividends, &c.Dividends ________ _____ 308,088,627 Other payments __ ___ ____ 49,297 Total ________________ 308,137,924 558,128,767 179,746,449 596,688,420 570 ,425,902 552,619,490 526,178,822 496.363 ,898 461,240,927 441,200,289 427,235,703 385 ,186 ,328 327,090,387 278 ,785,926 296,376,045 280,276.327 1 24 1,511,318 227,260,447 164,154,813 140,319,421 272,795,974 55.593 237,964.482 82,415 221,941,040 115,546 196,728,176 420,400 139,597,972 4,542 272,851.567 238,046,897 222 .056 ,595 197,148,576 185.391.755 15(),735,784 10,752 29,5841 185,421.2:30 156.74G,536 139,602,514 111.089,936 99,227,469 84,764 ,782 87,657,933 Year's surplus __________ 141,323,2()41 112 ,334.761 89,043,490 56,729,331 94 -~55 ,0881 416,573,137 425,966,921 429,008,310 431.422,156 416.404,938 388,707.712 384,792,138 89,631,926 56,116.259 55,755,970 111.058,034 115,965,191 110.076.916 101.758,587 lll,009,82 96,152,889 80,114 87,975 11 81,257' 5061 87,110,599 267,3901 87,603,371 494,386 85,287,543 673,957 95,515,226 6,0!J2,038 100,929,885 2,011,404 97,614,745 4,314,390 91,117,913 5,371,100 87,071,613 2,616,591 96,240,864 87,377 ,9891 88,097,757 85,961,5001 101,607,264 102,941,289 101.929 ,135 96,489,013 89,688.2041 44,078,557 6,120,483 8,116,745 14,036,056 13,587,903 12mo.383I 53,064,8_771 29,845,2 411 1.534,1691 45,851,294 1 I I ............ ····------·------------------. . : : . : ; ,: ---._:..;:.; . .: .: GROSS AND NET REVENUE, INTEREST CHARGES, ETC . Resul/,3 After Eliminating Duplicattons. :' l'EAR ENDING JUNE 30. ' J ' J ' Miles ot road ___ ____ ______ ' 'I I: 190G. 227,455 222,340 I 1905, I 216,974 1904. I 212,243 1903, 1902. 1901. 1900, 205,314 200,155 195 ,562 192,556 ~ I 187,535 1898. 184,648 $ $ $ $ $ $ $ $ s Gross earnings ___ __ _____ __ 2,5i9,105,578 2,325,765.1()7 2,082,482,406 1.975,174,0911.900,846,907 1.726,380,267 1.588.526,037 1.487,044,814 1.313,610,118 1.247 ,325,616 Operating expenses ________ 1,748,515, 14 1,536,877,271 1,390,602,152 1.338 ,896 .253 1.257 ,538 ,852 1,116,248,747 1,030 ,397,270 961.428.511 856,968,999 817,973,227 Net earnings ____ ___ ____ 840,589,764 788,887 ,89() 691.880,254 636,277,838 643,308.055 610,131,520 558,128,767 525,616,303 456,641.119 429,352,345 Clear Income from lnvest'ts _ 60 ,626,333 60,520.306 49,380,970 49,896,729 51.725 ,750 33,488,648 32,526,016 26,044,996 43,067,141 21,937,636 $ ' ' ' 1907. Total net Income ________ 901,216,097 849,408 ,202 743,606,004 685,658,808 693,204,784 653,198,661 591.617 ,415 558,142,319 482,686,115 451.289,981 305,337,754 294,803 ,884 11,653 .076 11.451.400 74 ,785,615 63,474,679 282,118 ,438 13 ,945 ,009 61.696,354 268,830,564 9,060,645 57,849,569 260,295,847 '2,717,103 54,465,437 252,594,808 5,526,572 50,944,372 242,998,285 4,912,892 48,332,273 241,657,535 7,102,847 46.337 ,632 237,578 ,706 7,073,953 43,828,224 Fixed Charges- ~-'!--• ...... ,....,q...q ... ,1 Net interest on funded debt_ 323,733,751 Interest on current liabilities 16,671,532 Taxes ____________ __ _____ 80,312,375 Salaries a nd maintenance of leased lines ______ _______ 648 835 1-l 1-1- ....................... t-' 1--1 ...... l\j~~~t-.,~k>b.:>~b,O)~~OOC.0 I I e~~~~~~~~~~~~~~~ ki:..:..oo:...toot.n oi c.,,,-;_ ':..t;... ;;:..<ao-c • ....:SCD....,..000.,tVt-'W ~ O OOC:O Ot-10I o.,ccco-:aoO)Ot-' 00 1-- t..:>i,1::1,.co ~--.t https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis i,.-,,i.t-.,t,,,:, ........... ~ ~~~~~ ~~~~=~= =~oo~o~c ~t,.,:)~01-'00C.00)i-.0(X)00,H,Oc,ni,;..,:o(.JJ. ~~~wwoo~~~~w~o~~~o~ ~ t~ I ~~~~~~~~~~=~~OO~WmW• 612 ,518 453,341 430,427 527,038 532 ,299 520,102 595,192 443,325 421 ,366,493 392,347,870 370,342,481 358 ,213,142 336,171,205 323,005,425 309,598,051 296,763,552 295,693,206 288,924,208 Remaining avallable _______ Net dividends ____ ________ I 227,394,962 479,849,604 457,060,326 213,555,081 373 ,263,523 188.175,151 327 .445 ,666 183,754,236 357 .033 ,579 166,176,586 330,193 ,236 157,215 ,380 282,019,364 131.626 ,672 261.378,767 118,624,409 186,992,909 94,273,796 162,365,773 83,995,384 Balance _______________ 252,454,642 243,505,245 185,088,372 143,691.430 190,856,993 172,977 ,856 150,392,692 142,754.358 92,719,113 78,370,389 38,552,890 5,000 ,000 67,578,488 49,042,631 5,000,000 77,127,853 37,720.624 5,000 ,000 53,324,258 38.522 ,548 5,000,000 43,439,551 41.948.183 5,000,000 44 ,681.341 34,712,968 5,000,000 38,409 ,800 31.938,901 5,000,000 28 ,689,009 25,500,035 5,000,000 24 ,596,390 13 ,070,045 5,000 ,000 21,584.191 6 ,847,905 5,000,000 25,524,597 141,323,264 112,334,761 89,043,490 56,729,331 99 ,227,469 94,855,088 84,764,782 87,657,933 53,064 ,877 47,159.227 G,) ,:-,,. ~ I wwwwwwwwwwww~~~~~~ I~~ ~~~~~~~~??~~~~?~~~~,~~ •wwoo~~~oowomoo~~•~~oo o~~oo~~om•~w~~~w~ ~oo 571,431 TotaL _________________ ~ ~· ~ Deductions- b~K~f;~~e:~1c-i"iiies--cesff Miscellaneous deductions ___ Balance _______________ 73 RAILROAD EARNINGS. RAILROAD GROSS EARNINGS FOR THE CALENDAR YEAR. Our compilations of the gross earnings of United States railroads for the calendar year possess greater utility this time than they have ever had before. The fiscal years of the different roads nearly all end with June 30, and we are alone in continuing the practice of compiling figures for the calendar year. But if ever it was desirable to have the results for the twelve months ending with DecP-mber, the present is the occasion. This is so because it is in the highest degree important that the public should know the extent of the loss in income sustained by our railroad transportation lines in such a notably bad pe1iod for the railroads as was the calendar year 1908. Where the figures are compiled for the year ending June 30, all possibility of measuring the loss is destroyed. The .reason for this is that in the 1907-08 fiscal year the tremendous losses sustained in the period from January to June 1908 were in no small part offset by the gains which the roads made in the period from July to December 1907, while business was still prosperous. In the fiscal year 1908-09, on the other hand, the losses suffered in the six months from July t.o December 1908 will be offset by the gains which seem certain in the six months from January to June 1909, because comparison will then be with the frightfully poor earnings in the corresponding six months of 1908. As people forget quickly, it will probably not be long before it will be seriously argued that the policy of destruction pursued in the political world and to which the unparalleled depression in trade and the great losses in railroad earnings have been due, was not destructive after all, and that no serious setback in railroad revenues actually occurred. The truth is, there has never been a period in the history of the railroads of this country when such a tremendous slump in earnings occurred as during 1908, and never a period in the industrial annals of the United States when general trade, as a result of this unfortunate predicament of the railroads, suffered such an extreme collapse. The figures we place on record to-day furnish incontrovertible proof of the accuracy of this statement. Stated in brief, railroad gross earnings in the calendar year 1908 fell, roughly, $325,000,000 below the total of the gross earnings for the calendar year 1907. The tables we give at the end of this article show an actual decrease of $290,- 140,542. But this, while covering a very large mileage, does not comprise the whole railroad mileage of the country. It covers (including two or three Canadian roads) 205,129 miles, whereas the full extent of the railroad mileage in the United States is over 230,000 miles. Therefore the $290,140,542 loss must be increased by 15% , bringing it up to over $325,000,000. But even this does not measure the full extent of the setback experienced as compared with periods of normal conditions. The normal state in the United States is one of steady growth, where railroad revenues keep expanding year by year. Had 1908 been unmarred by catastrophe, we should have had, instead of this loss of $325,000,000, a further gain on top of the gains the roads had enjoyed in all the years preceding back to 1896. What the extent of this gain would have been may be judged when we say that in 1907 there was an increase in gross earnings of $230 000 000 over 1906· in 1906 an in https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis crease of $250,000,000 over 1905, and in 1905 an increase of $180,000,000 over 1904. Thus, the $325,000,000 decrease actually sustained must be increased to the extent of, say, 200,000,000 to represent the amount of gain that would have been made if the rail road industry had not been dealt such a staggering blow. The two combined make $525,000,000, which is the real measure of the reduction. In these remarks we have used round figures because necessarily results for a small part of the railroad mileage of the country have to be estimated, as it is impossible to procure returns from all the roads. But even should we confine ourselves to the mileage for which we have actually obtained figures, the comparison would be only slightly less striking. As already stated, for 1908 the loss on the roads contributing returns has been $290,140,542. This compares with an increase in 1907 on the roads reporting of $215,968,261-a difference between the two years of over $506,000,000. In the following we furnish a summary of the yearly totals back to 1896, just as registered by our tables each year. Increase ( +) Mileage. Gross Earntngs. Jan. 1 to 1- - - - - - - 1 - - - - - - -- - 1 Dec. 31. Year Year InYear Year Gtven. Precedtng. Gtven. Preced. cr'se. Yr . Roads Mtles . --1896 1897 1898 1899 1900 1901 1902 1903 1904 1905 1906 1907 1908 196 192 190 168 171 157 147 142 135 128 134 140 137 -148,916 154,930 157,801 156,958 157,401 172,879 170,395 172,788 179,668 180,398 186,687 201,767 205,12!! OT Decrease (-). I MUes. % s 147,710 153,133 156,295 153,535 152,122 170,549 167 ,641 169,203 176,492 178,264 182,611 199,528 202,268 0.81 1 .17 0.96 2.23 3.47 1.36 1.64 2.12 1.79 1.19 2.23 1.12 1.42 879,622,029 974,466,753 1,050,895,038 1,128,928,916 1,216,924,951 1,495,915,406 1,542,725,832 1,755,678,836 1,773,338,878 1,907,424,202 2,131,306,699 2,491,429,838 2,196,476,765 I s 877,303,635 919,976,190 973,247,319 1,027 ,612,030 l ,ll6,009 ,184 1,352,897,605 1,449,841 ,005 1,573,578,987 1,762,201,391 1,755,384,568 1,907,244,247 2,275,461,577 2.486,617,307 % +2,318,394 0.26 +54,490 ,563 5.92 +77 ,647 ,719 7 .97 +101,316,886 9.86 100,915,767 9.04 143,017 ,801 10.57 +92,884,827 6.46 +182,099,849 11.57 +ll,137,487 0.63 +152,039,634 8.66 +224,062,452 11.74 +215,968,261 9.49 -290 ,140 ,542?1.69. + + Note. - Nelther the earnings or the Mexican roads nor the mining operations o the anthracite coal roads are Included In this table. Prodigious though the loss in gross revenues has been, it would have been of yet larger proportions if the ratio of shrinkage sustained during the first six months had been continued throughout the rest of the year. Fortunately, an improvement occurred during the last four months of the year. This improvement followed in part as a result of a larger cotton movement in the South and a larger grain movement in the West. In portions of the Southwest some roads derived important benefits in both these ways, and showed a very substantial expansion in revenues in several of the months where before they had been re porting losses. These gains served as an .offset to the large losses that were still bei.ng reported by the roads running through the manufacturing and mineral dis _ tricts. As a consequence, the amount of decrease on the roads as a whole during September, October and November was very greatly diminished, and in Decem ber we actually had a gain, qeing the only month of the year distinguished in that way. It is proper to say, however, that in December comparison was with diminished earnings in 1907, the last month in that year having been distinctive as being the only one recording a loss. As far as general trade is concerned there was little revival of activity until October, when assurance began to be felt that Mr. Bryan would again be defeated in his grasp for the Presidency, just as he had been twice before. The following is a sum mary of our monthly totals. Gross Earntngs. Miles ot Road. Month. 1908. January .(122 February (123 March ___ (126 April ____ (119 May _____ (120 June ____ (ll3 July _____ ( 97 August __ (105 September(ll4 October __ (119 November (11 December.(103 roads) roads) roads) roads) roads) roads) roads) roads) roads) roads) roads) roads) 185,216 185,147 186,435 186,136 185,897 178,960 172,135 191,116 200,908 203,231 200,937 189,946 1907. 1908. 183 ,261 151,758,406 183,375 141,256,206 184,629 162,495,089 184,274 154,137,168 183 ,902 153,112,628 177,040 146,270,130 169,890 156,103,883 188,771179,781,772 198,274 210,014,059 200 ,536 223,931,291 198,308 205,963,343 187,442 l!l4.491,098 1907. Increase or Decrease. % 172,283,006 160,150,610 187,435,350 190,046,156 198,146,871 179,397,094 183,365,993 209,690,782 223,964,945 240,852 ,757 213,913,648 185 .00fi.771 -20 ,524,600 -18,894,404 -24,940,261 -35,908,988 -45,034,243 -33,126,964 -27,262,110 -29,909,010 -13,950,886 -16,721,466 -7,950,305 "'+9 .484.327 12.49 11.79 13.37 18.89 22.67 18.47 14.87 14.21 6.23 · 6.95 3.7 5.13 74 :RAILROAD EARNINGS. These monthly totals cover in each case only the tons. PRINCIPAL CHANGES IN GROSS EARNINGS FOR 12 MONTHS. Increases. Decreases. $454,700 Pacific Coast ___________ $1,721,302 Decreases. Delaware & Hudson____ 1,652,937 P ennsylvania (2) ______ y$47,189,000 Kansas City Southern___ 1.595,556 Baltimore & Ohio ______ 15,669,349 Hocking Valley________ 1,540,504 Southern Pacific------- 14,771,241 Wheeling & Lake Erie__ 1,529,426 NY Cent & Hud River__ a9,519,692 Central of Georgia______ 1,459,989 Great Northern (2) ----- 9,303,369 Seaboard Air Line______ 1,345,982 Atch Topeka & Santa Fe 8,289,764 Cine New Ori & Tex Pac_ 1,276,053 Chicago Burl & Quincy__ 7,924,711 Bessemer & Lake Erle__ 1.136,001 Northern Pacific___ ____ 7,825,283 Phlla Balto & wash____ 1,129,000 Chicago North Western_ 6,922,835 Minn St Paul & S SM__ 1,090,642 Illinois CentraL________ 6,694,547 NY Chicago & st Louis_ 1,030,114 St Louis & San Francisco 6,657,611 Chic St Paul Minn & o__ 8·19,693 ~~~~~n&R¾~:t!in===== ~tl~~i~ts~~i~;,!s:rt;:= Philadelphia & Reading_ x6,295,285 Det Toledo & Ironton (2) 741,579 Grand Trunk (4)_______ 6,123,454 Toledo & Ohio CentraL_ 732,793 Missouri Pacific (2) ----- 6,069,549 Chicago Ind & Louisv__ 727,747 Erie ___________ ______ 5,926,902 Wisconsin Central______ 725,754 Louisville & Nashville___ 5,099,368 DUiuth South Sh & AtL_ 724,141 ' Lake Shore &Mich So __ 4,988,616 AlabamaGreatSouth ___ 1102,083 Pittsburgh & Lake Erie_ 4,506,557 Ala New Ori & Tex P (3) 698,727 Canadian Pacific _______ 4,428,211 Gult & Ship Island_____ 681,567 Union Pacific __________ 4,427,736 Western Maryland______ 632,533 Boston & Maine________ 4,229,314 Lake Erie & Western___ 532,151 Rock Island___________ 4,145,885 Elgin Joliet & Eastern__ 528,210 Lehigh Valley__________ 3,986,982 Internat'I & Gt Northern 480,378 Chesapeake & Ohio_____ 3,919,464 Chicago Great Western__ 457,386 Duluth Missabe & North. 3,802,237 west Jersey & Seashore_ 430,200 Michigan CentraL______ 3,628,622 Chicago & Alton___ ____ 419,316 Texas & Pacific________ 2,754,353 Georgia Southern & Fla_ 393,995 Denver & Rio Grande___ 2,714,975 Kanawha & Michigan___ 362,965 Central of New Jersey___ 2,631,902 Rutland -------------313,847 311,863 Wabash_______________ 2,478,860 Long Island___________ Missouri Kansas & Texas 2,374,245 Colorado Midland-----302,856 Atlantic Coast Line_____ 2,333,466 Yazoo & Miss Valley____ 296,870 DUiuth & Iron Range___ 2,298,553 Bangor & Aroo!:;took____ 276,.731 271,307 Chicago Mllw & St PauL 2,182,117 Texas Central__________ ~~rtt~~n&C~~~~~f:~~e~~~ ie{V§~as:rwestern==== Mobile&. Ohio _________ 1,895,204 Huntingdon &Broad Top 251,754 Clev Cine Chic & St Louis 1,826,143 Nashv Chatt & st Louis_ 1,757,997 Representing 93 roads Buffalo Roch & Pitts___ 1,740,895 in our compilation_$286,821,82S Note.-Figures in parenthesis after name of road indicate the number ot lines or companies for which separate returns are given in our compilations. a These figures cover merely the operations of the New York Central itsell. Including the various auxiliary and controlled roads, like the Michigan Central. the Lake Shore, the "Big Four," the "Nickel Plate," &c., the whole going to form the New Yorli Central System, the result is a los; 1~~1 operations only. v These figures cover the lines directly operated east and west of Pittsburgh and Erie. The gross on Eastern lines decreased S28 ,515,900 and the gross on Western lines decreased $18,673,100. As regards the grain movement, this failed to equal To complete our analysis, we annex the following roads actually contributing returns. With the missing mileage included, the losses for the different months would be still heaVI·er. On a pr·eVI·ous occasr·on we estr· mated th.at' Wl"th full returns for the whole ra1"lr·oad mileage of the country, the loss in January would $29,000,000, $34,000,000, in 26,000,000, in $45,000,000, in May have been in February March April ( when there was a suspensr·on of mi'nr·ng 1·n tlie br"tumr· 1 · ) f $55 , 000 , 000 an d 1n · J f nous COa regions O une O $46,- 000,000, giving for these six months a shrinkage of $235,000,000. As we have estimated above that for thew h O1e ca1en d ar year 1908 the loss in gross was $325,• d h 000,000, it 1s evi ent t at during the last six months the loss altogether was only $90,000,000, and this shows the distinction between the two half-yearly periods. As indicating the various ways in which railroad traffic was diminished, we may note that pig iron pro- 15,936,018 duction was only tons, against 25,781,361 tons; that Bessemer steel production was only 6,116,755 tons, against 11,667,549 tons,· that the shipments of ore by water from the Lake Superior reoion were only 25,427,094 tons, against Connellsville coke shipments were only against 19,029,058 0 ~ 41,288,755 tons; that the 10,700,022 tons ' tons, and that the shipments of coal and coke originating on the Pennsylvania RR lines east of Pittsburgh and Erie were only 46,761,805 58,457,932 tons, against Canadian Northern _____ tm:m m:m tm:Jgt m:m t~~;,7J:ii!6a,\; that of the preceding year, notwithstanding the in- six-year comparison of the earnings of leading roads arranged in groups. d f h . h crease w h 1c occurre in many o t e months during EARNINGS OF ANTHRACITE coAL GROUP the second half-year. The remark applies both to the Year. I 1908. j 1907. 1906. 1905. 1904. 1903. JJ:~_ receipts at the seaboard and the receipts at the primary markets in the West. two weeks against Seaboard receipts for the fifty- aggregated 279,836,479 bushels in 1906, as will be seen bushels in It 218,165,430 bushels, 1907 and 289,148,931 only by the following table. is proper to add that for the six months to June the loss had been At the ceipts were 45½ Western 30 million bushels. primary markets, 669,478,568 bushels, aggregate as against bushels for the fifty-two weeks of re- 730,220,077 1907. Cent ot J I 25,6!5,0321 28,0!6,934 Lehigh Valr33,045,979r37,032,961 NY O&WI 1'8,155,470:/ 1'8,216,140 NY S &W 3,113,624 3,366,461 Phil & 39,576,780 45,872,065 1 Rd,· 24,818,721 24,2~7.831 22,1~6,832 22,1f8,626 3:l,591,852 33,043,975 30,429,687 30,933,635 1'7,533,725 7,465,200 6,845,317 6,950,456 2,839,298 2,852,893 2,740,793 2,957,000 40,782,938 40,147,371 35,446,677 36,247,812_ TotaL ___ 109,546,8851122,574,561109,586,534107,757,270 97,589,306 99,207,529 d These are the earnings or the railroad company only; the results or coa1-m1111ng operations are not Included In any or the years. r Figures are on the new basis or accounting prescribed by the Inter-State Com merce CommLsslon. SOUTHERN GROUP. - - - - - - -EARNINGS - - - -OF 1905. 1906. Year. 1908. 1907. 1904. 1903. The wheat s $ $ $ $ $ 1908. 1907. 1906. 1905. 1904. 1903. $ $ $ $ $ s Ala Gt Sou r3,348,387 r4,050,470 3,942,648 3,478,831 3,215,804 2,971,086 Cent or Ga rlO ,850,467 rl2 ,310,456 11,643,275 10,531,081 9,957,994 9,418,882 Ches & Oh~24,270,092~28,189,556 25,322,229 22,130,119 20,106,363 18,771,370 but there was a heavy loss in corn and oats. Up to CNO & TP 17,349,214 r8,625,267 8,741,821 7,671,415 7,058,524 6,676,930 Lou & N 343,508,681 r48,608,049r45,856,765 39,624,355 37,629,928 36,814,414 June 27 the receipts had been only 268,146,747 bush- Mob & Oh r9,182,092rll ,077 ,296 10,034,201 8,539,680 8,055,803 7,785,856 NCh&St Lr10,568,932rl2,326,929 11,546,933 10,192,404 10,378,507 10,005,967 els, against 335,651,750 bushels, a decrease of over Nor & W_r26,643,766r33,097,720 29,686,565 26,191,843 23,229,099 22,505,339 South Ry_ r50 ,697 ,565 r57 ,166 ,680 55,353,297 49,819,714 47,028,223 44,113,938 67,000,000 bushels, which shows that the whole of Yaz & MV a9,923,371~10,220,241 9,412,977 7,931,323 8,468,947 7,539,156 Tota.I ___ 196,342,567 225,672,664 211,540,711186,110,765175,129,192166,602,938 the loss for the year occurred in the first six months. aBegLnnlng with July includes some large Items or Income not previously Included The details of the Western grain movement in our In monthly returns. r These figures are on the new basis or accounting prescribed by the Inter-State usual form are shown in the subjoined table. Commeree Commission. EARNINGS OF SOUTHWESTERN AND PACIFIC GROUP. As regards the cotton movement in the South, the receipts were larger and so were the barley receipts, receipts at the Southern ports for the full year were 9,501,268 bales, of 816,510 bales. as against 8,684,758 bales, a Year. gain AT & S F 89,040,357 97,330,121 85,020,061 C & S systr14 ,526,59417'14,475,389 12,510,188 D & R Gr_ ~19,4:.:!l ,165r22 ,136,140r20,389 ,152 had been a loss in these Southern port receipts of Int&GtNo 17,474,380 r7 ,954,758 7,752,107 MK & T_r23,774,576126,148,821 23,159,324 586,417 bales, indicating that during the last six Mo Pac & Cent Br_ 43,112,488 49,182,037 46,587,556 months the cotton receipts increased 1,402,927 bales. StL & SF I 45,081,827 51,739,438 44,601,212 StL & SW r9,688,738r10,477 ,404 r9,736,797 The shipments overland for the twelve months were Sou Pac __ 117,657,278132,428,519113,586,845 Tex & Pacr13 ,917 ,31117'16 ,671,664 14,914,608 1,616,257 bales, against 1,422,572 bales, showing an Un Pac ___ 75,760,016 80,187,752 70,490,706 increase of 193,685 During the first six months there bales. In the first six months these 271,976 bales. there is no occasion overland shipments recorded a loss of In the case of the separate roads extent, the Pennsylvania Railroad, for instance, ha ving suffered a decrease of $47,189,000, and this being exclusive of the roads controlled and separately operated. The following shows all the changes for the separate roads for amounts in excess of $250,000. 42,518,269 39,368,071 8,701,946 99,648,203 12,130,391 63,608,662 43,693,616 37,342,697 8,337,655 92,641,800 12,433,147 56,821,210 43,095,768 34,661,112 7,479,950 92,098,384 12,094,743 54,040,818 Total __ 459,454,730 508,732,043 448,748,556 395,444,519 368,073,995 359,288,392 1 Includes Chicago & Eastern Illinois. r Figures are on the new basis of accounting prescribed by the Inter-State Commerce Commission. EARNINGS OF MIDDLE AND MIDDLE WESTERN GROUP. for any remarks beyond the statement that the losses were large and general-in some instances of prodigious 73,629,187 66,974,014 66,467,610 10,644,852 8,465,680 8,871,368 18,219,253 16,440,471 17,012,239 6,515,688 5,880,130 5,887,164 20,459,997 19,-043,575 17,579,236 Year. / 1908. I 1907. BR & Plttl 11,115,7761 r8,8i6,671 ri~~~d v~ri ~tm:~f~I ~~:m:m Ill Central b53,869,384 b60,563,931 L Erle &WI Toi & 0 C Toi P & W T StL & W Wh & LE 4,534,7891 5,066,940 4,140,757 4,873,550 1,165,834 1,287,589 3,428,283 4,246,597 r4,992,247 16,521,673 1906 . 1905. 1904. 1903. s $ $ $ 7,467,336 8,567,433 7,696,052 7,769,490 15,896,069 5,833,724 5,382,569 5,346,252 1'6,522,027 6,138,089 5,803,354 6,282,778 54,277,180 48,957,268 48,669,356 47,161,474 5,212,810 5,037,293 4,970,992 5,218,728 4,362,500 3,810,225 3,783,608 3,832,459 1,252,545 1,281,206 1,341,843 1,279,656 4,211,648 3,982,144 3,697,828 3,164,278 r5,475,732 5,174,851 4,2g9,433 4,481,047 TotaL __ I 89,881,964104,320,096 94,677,847 88,782,233 85,635,035 84,536,162 There is only one road with an increase of that amount, and that is a Canadian road, namely the Canadian ln~:a.~~~l~o:~~/~[J~~~res Include some large Items of Income not previously Northern. Co~~;! https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis i~~;;_ 1~~in the new basis ot accounting prescribed by the Inter-State 75 RAILROAD BONDS. EARNINGS OF NORTHWESTERN AND NORTH PACIFIC GROUP. EARNINGS OF TRUNK LINES. 1906. I 1901. s I s s Bait & Oh r67 ,688,519 r83 ,357 ,868 r80,552 ,847 Y ear . 1908. - -- - 1905. 1904 , 1903. $ s $ 71,755,673 65,200,262 66,196,543 •CCC & S tL 24,621,6611 26,447,804 24,594,915 22,517,763 22,141 ,108 21,197,783 Peor & E 2,764,463 3,010,347 3,059,280 2,960,725 3,051,198 3,073,873 Erle _ __ __ 48,589,352 54,516,254 51 ,167 ,8471 47 ,832,190 45,106 ,925 47,589,837 •GrTrCan b 38,777,014 44,900,468 41,559,345 37 ,990,117 34,086,339 35,524,998 -LSh & MS 39,964,858 44,953,474 42,544,378 38,600,811 35,161,053 34,768,080 Mich Cent 24,918,4881 28,547,110 26,275,587, 23,283,869 21,492,945 22,552,201 NYC& HR 188,849,368 98,369,060 92,089,766 86,095,599 78,573,205 79,909,414 ,Pa-Ell.'ltor Pitts & Er 136,296,926,164,812,826148,239,890 133,921,990118,145,094122,626,394 West or P & Erle 70,310,922 88,984,022 80,522,307 72,013,535 64,039,543 65,563,756 1Wabash __ r24 ,946 ,06T27 ,434 ,923 r26 ,467 ,456i 23 ,579,261 24 ,562,857 22,561,974 1 TotaL __ 567,727,634 665,334,156 617,073,618;560,551,533 511,560,529 521,564,853 Year. 1907. 1906. 1905. $ $ $ s Can Pac __ 71,210,333 75,638,544 67,752,255 Ch Gt W'n *r8,100,722 r8,558,108 r8,729,748 CM &StP 158,101,785 r60, 283 ,902 157,979,454 Ch& NW r62,415,755r69 ,338,590 r66 ,429 ,880 CStFM&O rl2,799,l 72r l3 ,668,865 13,417,880 Du!SS&A r2,574,725 13,298,866 r3,120,299 Gt No syst 50,514, 173'c59 ,817 ,542 54,705,448 Iowa Cent r2,918,483 73,134,467 3,051,067 Minn&StL 73,935,693 74,063,407 3,685,671 Minn St P &SSM 11,774,778 12,865,420 12,242,328 Nor Pac __ r65 ,293 ,684 r73,118,967 b64,692,45~, StJ&GrI 1,596,849 1,709,507 1,579,488 WISC Cent r7 ,120,482 r7,846,236 r7,273,353 I .I 1904. I!!; 1903.' ' s s "81 46,348,956 8,234,800 48,688,423 54,396,248 12,055,268 2,728,745 47,717,681 1 41,334,649 41,910,161 2,788,309 2,484,860 2,371,664 3,518,909 2;832,958 2,971,896 54,711,8361 48,714,6"5 8,004,100 7,733,139 52,309,617 48,743,057 59,087,802 53,705,091 12,390,066 11,480,169 2,938,678 2,498,576 II 10,209,593- 7,598,376 7,276,517 56,710,143 48,897,631 47,973,128 1,458,353' 1,282,040 1,413,706 6,772,6731 6,548,342 6,683,208 TotaL •• 358,356 ,634j393 ,342,42?64 ,659 ,3251318,617 ,760;283 ,853 ,553 283,052,720 b Incl~des Canada & Atlantic beginning with October 1904. I Boston & Albany, as also the Beech Creek RR., the Walktll Valley RR. and •the Fall Brook system , Included tor all the years . r Figures are on the new basis or accounting prescribed by the Inter-State Commerce Comm1ss1on. 1908. * Mileage reduced In July 1904 trom 929 to 818. b Proprietary lines not Included alter June 1906. r Figures are on the new basis or accounting prescribed by the Inter-State Commerce Commission . c Actual figures are used tor comparison In the last six months or 1907 -OOURSE OF PRIOES OF BONDS ON NEW YORK STOOK EXCHANGE, 1904 TO 1908. 1904. JANUARY FEBR'RY. l\IARCB" . APRIL. MAY. JULY. AUGUST 8EPT'BER. OCTOBER. NOV'BER. DEC'BER. BONDS. Low.High Low.High T,ow. Iligh Low. Iligh Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.Hl,:ih - - - - - - - - - - - - · - - - - - - - - - - - - - -- - - - - - - - - - - - - - - - -----------,---·- ·Ala.Cent.-SeeSeo b.A.L. Ala. ll'U d.-.See Atl. C. L. Ann Arbor-Jst,'9:i,g.4 92 - 93½ 92 - 93~ ll2½- 93 91¾- 92½ 92 - 93~ IJ2~- 9;74 94 - 95 95¾- 95~ 96 - 96 9!xi- 97 96¾- PS 93 - 99!,! Atcb. Top. & S. Fe.General, gold, 199:i.4 98¾-100 99~-100 99*101¼ 99)4-100¼ L00¼-10111, 101¼-1112'.U 102½-103¼ 103¼-103½ 103¼-104 101¾-102¾ 10>½ -103 102~-103:J,! Registered .... .... ... 4 99~-100 99¾- 991)4 99:M-l0L¾ 99 - U9¾ . ... - .... 101½-101½ I0J,-,,; 103¼ .... - .. . . 103¾ 103¾ lO0 -100 LOI -102X? 101 -101½ Ad.iustm't, Ir•• 199:i, 4 87½- 90 87).(- 89!,e 87¾- 89:U, 80 - 92 91 - 92 91 - 9i¾ 92:1,i- 95h 93 - 95l¾ 95 - 96½ ll6J,t- 98 IJZ½- 9l½ 94 - 94¾ Reiristered ........... 4 82½- 82¾ .... - .. . - .... .... Stamped, guar ...... 4 t-7½- 99¾ Si¾- 89¾ 88 - SY~ 89}(- 92 89 - 9(% 8~- 9-!¾ 91¾- 93~ 92~- 93¼ 93 - 94½ 9,H,t - 9.3~ 92½- 94~ 9!¼- 95 .D.eben. "D," 1906... 4 100 -100 98 - 08 .... 9J¾- 9 , ¾ .... 99 - 99 . .. ... - ... . .... @erle ■ E, 1907 . . . 4 .... 99'J;( - 99¾ . •.. Sel'les F, 1908 ...... 4 .... 98 - 98 .... - .. . 93"- 9i¾ 99½- 99~ ..•. - ... . !'."!erles G, 1909 ...... 4 . .. . 99]4- 99¼ ~ Serles B, 1910 ..... .a· .... 07½- 97½ .... - .. . .... - . .. • •• Sel'iesl,1911 ...... . 4 .... . .. . - ... ... - . . . 98¾-99½ ... Serlrfl K, 191:J ..... 4; .... 96~- 97 ... . - .. . ... Eo.at.Okln..mv., l-8t.4 .... - .... 92¼- 92¾ 93¼- 95¾ 96 - 97¾ 97.!r 99¼ 96½- 97 911~- 97~ 07½ · P9 A ti.Knox. & No.-lat.:i .. . . - .. .. .... - .... 112 -lU .... - •.•. tl2J,r112½ .... .Atlo.ntlc Coaat Linc- · I st, go d ...... .. .... 4 92'4- 94¼ 92¾- 93¾ 91 - 92!¾ 92¾- 94>t 94¾- 116 95 - 97¼ 97 - 99~ 98¾-10011, 97½- 98½ 98¼- 98¾ 98 -100 99,1,4-101!'( Rie1rl11tered .... ........ 4 .. .. - . . . 92 - 92 - •••..••• Sav.F.& W ,lat.'34.~ 112¾-112~ .... - .. . . · ··· A la. M ldl'd, lat, ':lS.~ .... - ... . . . - ... . 109 -109 112 -112 .... - •••. 1143-:(-114~ . • •• - .... 118½ 113½ 114 -114 - .... 93 - 93 Br. & \V ., 111&,1938.4' .... - .. . ... . 98 - 98 98 - 98 97M- 97¾ Sil - p. Ocain. & G ... 4 .... - ... . Baltimore & Ohio.Pr. lien, Ir•• 192:i .. . 3~ 98¼ - 95¼ 92¾ - 94!'4 93 - 94½ 03:J(- 94~ 94¼- G5¾ 95 - 06½ 94¾- 95¼ 94¼- 95~ 94¾- 95¾ 91~- 96 95¾- 96'4 96 - 96½ Reglatered ......... 3.1,t . ... - ... 92¼- 9i!>9 93¾- 93½ 95}(- 95!,a .... 93 - 93 96 - 96 •••. Gold, 1948 ............. 4 l~-102 100¼-101~ lU0~-102¼ l00¼·-101 100½-101½ 10'¼-103 102¾-103¾ 103 · 103!,6 103 -103~ 101¾-103!14103 -101¾ 102¾-108¾ Reirtstered ........... 4 . ... - . .. l0l¾-101:){, ... - ... . 100}4-100½ 100 -101 100 -101½ 103 -1U3 ••. - •.. 100¾-102½, l02 -102),, .••• - ... . Conv. deben., 191.1.-4 .... - ........ - ... . 97 - 9; .... - .... 97 - gs .... - .. . 1013(-101¼ ..•. - . . . . 103 -106 Pitta.Jc.& M. Div.3¾, 87½- 89¾ 89¼- 89¼ 88 - S8 8•¾- 89'4 813¼- 89¾ 89 - 90¼ 90¼- SH~ 91¼- 92 91½- 9.1 91¼- 92 ~ 90¾- 91 Ill - 91¾ P.L.E .& W. Va.SJ a. 4, 93¼- 95 92¾- 97 04¾• 9!~ 94Y-(- 96¼ 94½- 95 95½- 97~ 97½- 98~ 99¾- 99 98¼- 99¾ 99 -100!-!i ll8½ 100 98¼- g~ s. w. Div., tat, ir .. 3½ 87¾- 89 87.!4- 88¾ 83 - 88!':a 88¾ · 91)¾ 90 - 91:Js ~ - 92!,,( 90!4- 91¾ 91~- 91~ 91½- 92 91¾-- 92½ 9Z - 93lla 113 - 91 Mon. Rtv., lat, au... - .... l05½-105J.fi ..• - •••. 108 -108 . • . 108 -109Xa . • • • Cenr. o. Reol'a-.lsL4~ .... - . . . 119¼-119~ . •• • Pitts C. & Toi., 1st.ti 122 -122 99 -98 .... . ... 100 -100 100 -100 100 -100 .... Pitts.& W., 18t,'1'7 .4 . .. .. . . 100 -100 . . • • - .. . . .. • J.P. M. & Co. ctfa ... ... Buff. Roch. & Plttsb.Genero.l. .... .......... .. :} 116¼-117 115 -116 113½ 114 . ... - .... 115 -115¼ 116" 117¾ .... - . • . 11731!-117½ .... - ... _ll4~-1U!J4 115½-115¾ R. & P., lst, 1921 ... 6 .... - ..... . . t2L¼-121½ ... Consol., 1st .......... 6 . ... - .. 121¼-121¼ t22 -1~2½ 124 -12i 124 -124 .... - ........ - . . . 12i¼-123¼ . ... .Buff & Susq.-ht, ret .4 98½- 99 97¾- 98¼ W½- 98 97½- 98 97¼- 99¼ 93 -100¼ 98¼- 99¼ . .. . - .... 98¼- 99¾ 98¾- ll9~ .••• - ... 9~-100¼ B.c.R.&.N. SeeC RI&P1 Can. Soutb'n-lst, 1ru.;i 102¼-103¼ 102½-108 102¾-108¾ 103½-104~ 104¼j-104½ 104¼-106 103¼-103~ 103¾-103¾103¾ 104 103!'(-101¾ L04 -104~ 104¾·105!'( ~d mortgo.1re ........... ;i 106)4 -10™ 106¾-107,!4 LQ4¾-105¾ 1()5%-106 10f>¾-ll6 105!'.t-107 107 -109 - . . 106 -106 107 -107 106½- 107 lOd½-107 Reirlstered .... .... ... :} .... - ....... - ... . .... - . ... - .... 105 -105 107 -107 - .. . .. • - .. . .... ,c. B. U. Pn.c.-lst, 1r ... 4 92~- 92).<, . ... - . .. . 90 - 01!14 .. . . - .... 92 - 92¾ 90½- 91½ 9~ - 93 93 - 94 95 - 96 ... - .. " U5½- 95½ 93¾-- 9~ (Jent. RR. & B., Ga .. ii .... - .... . .. - .. . 107 -107 106%--108 - ....... . - •.•. 108 -108¼ .... - .... U0½-110¾ lll½-112~ 109;(-110 109½-10{% (.Jentl'al of Geor1rlo.ht .. ............. .. .. . .... :} 118 -118 116½-116½ 116!,6-116¼ .... - .. . . .... ... - .... 117 -117 120½-1201}.( 120¾-120¾ .. .. - . Consol., 194~, gold .. ;i 108!'(-106½ 105 -101) 105 -107¼ L06¾-1097~ 1063,g-107¾ 10(>¾-111 110¼-112 110)4-111¾111 -112 112 -114 lll -112 110½-113'4 :Registered, 19'1:i .. :i .... - .... 105½-107½ .... - . . .. . .. - ........ - .. .. ... - •.. 1st pret. lncome .. . .. . ;i 68 - 71½ 67 - 7l 65¾- 68 68¼- 71 70¾ - 76 72 - 76 174 - 80 80 - 85 Si¾- 88½ 82½- 89 S8:¼- 93 89 - 98 2d pref. Income . . ..... ii 28½ · 82 29 - 301,e 28 - 30 29 - 31¾ 31 - 8tl¾ 3i - 36 85½- 43½ 42¼- 47¾ 47¾-- 55 52 - 65 62'¼- 74¾ 70 - 74:¼ 3d pref. Income....... ~ 19 - "20¼ 18¾-- 19½ 18 - 18½ 19 - 20 20½- 28 21½- 28 23:¼- 28¼ 26½- 85 33¾- 83¼ 37 - 61 49 - 653-(i 60 - 64 Mac. & No. Dlv .. lat.6 .... - .... 104 -10.1 Mobile Div., 1946 ... :} .. .. - . .. l0i¼-107¼ 92¾- 92½ .... Chatt. Div., 19:il-.. 4 .... - • . . . 93½- 93~ 9!~- 91~ 93 - 96 Cent. of New JerseyGen. mort., 198'7 .... :} 128¾ -131½ 128~-131~ L28 -129~ 12d¾-129¾ 129¾-132¼ 130)4-133¾ 132:¼-133 132¾-134. 133¼-13! 13l¼-134¾ 135 -135% 135¾-136¼ Reirtstered ..... ...... :} 139¼-130½ 130 -130 128¼-128½ 127½-128¾ 129½-130 l2~¾-13U¾ . ... - ... . .. - .... 132>i-133 L32,!4-132:1,t 132¾--188¾ 13Z¾-183~ Am.Dock & Imp ..... .:} 111:¼ ·112½ lll¼-111¾ Lll½-111¾ lll¾-113 . ... - .. . . L13¼-ll:i~ lll½-111½ . ... - ... . 114 -114 114 -114 ... . - . ... 114 -lU¼ L. & W ., mort., '1~ .. :} L02 -102 . ... - .... L0~~-103½ 103¼-10314 ..• - ... 103\IJ(-103¾ 104¾-10!;14103 -103 Con. ext., '10, g11.4~ 100 -102 101¾-102 lu0¼--101 101 -101¾ 101½-102 100½-l0I¾ 102¼-102¾ 102,!4-103½ 102 -10.2~ 101% 103 102½-104 101~ 102½ Cent. Po.c.-See So.P .Co. Cbesn.pen.ke & Ohloec,rlesA, gold, 190S.6 .... - .... 109¾-109½ 109¼-109¾ 108 -108 108 -109 - .... 106½-106'4 Mortiraae, 1911 .. ... .. 6 111 -111 . L09½-110¼ 109:J;(-110¼ .... lll½-111½ . ... 1st, con., g., 1939 ... . :} 114¾-116 115¼-116¾ 11572 -116)..d 116}4-118 115 -115¾ 115¼-118 Lt7¾-119 118¼-119 118~-119~ 119½-120½ 118 -119!,6118 -118~ l{e1rtstered .......... . ;i ... . - . ... 115 -115 Ll3 -113 115}4-115¼ .. . - . ·· - 114¾ lU:I:, us -111-l . ... - •. . ... - .. •. 117~-117½ . ... General, 199:l .. . . .. 4 ½ 102 -104 103 -1031},. 100~-102 L0l¾-102¼ 10~-104¼ 104 -10.3i,, ,05¼-107 L0tS¼ 108 105 -105~ 105¼-106 105~-108½ 107 -108¾ R.&A.D.lstcon.'89 .4 99½-l0l 100¾-101½ 100%-101½ 1017-(-101¾ 101 -101~ 101¼-103 IO~,t-101½ 102 -102 L0l½-102½ 102 -103 , 102 -102.¾ 102 -103¼ ~d cousol., 1989 .... 4 94½- 94½ .••. - .... 94¾- 94!}.f 94¼- 94¾ 96¼- 97 96 - 96 98M- 9d½.... . . . . , . . . . 98 - 99 Greenbrier Ry., lst.4 .... - .. . . - ........ Uhlca1ro & AltonRetu ndlnir, 1949 ..... 3 81½- 83 82 - 84 83}4- 84½ 82¼- 88!,4 88 - 88¼ 82¾- 85 84 - 85¼ 84 - 84 Raawav, 1 D:iO ........ 3½ 7i½- 77 75 - ~lit 75 - 7'n,:( 76 - 771}4 77½- flO 78¼- 791.i 78 - 79 78 - 79¼ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis - ........ - ....... - ... . ;;:;~: ;:~ ;J: ;~ · RAILROAD BONDS. 76 190.f-Contlnued. BONDS. __________ JANUARY FEBR'RY. MAROH. APRIL. MAY. JUNE. JULY. .,\ UGUST. 8EPT'BER. OCTOBER. NOV'BER. DEO'BER. - - - - - - - - - - - - - - - - - - - - - - - ·- - - - - - - 1 - - - - 1 - · - - Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High ,Low.High - - - Low.High - - - ---- Low.Hiirh - - - - ---- - - ·- - - - - - - - - - - - - - - - - - - - Chic. Burl. & QulncyOenver Div., 192~ .. 4 101¼-101¼ 99 - 99 101 -101¾ 101 -lOt 101¼ 101~ 99 - 99 ... - .... 10()¾-lOO!l( ... - . . . 101!!:(-102 .... - .. . . . .. 92¾- 95¾ 93J.s- 94 94 - 94¼ 91¼- 94½ 94).(- 95¼ 96¼- 9o¼ 96¾- 97~ Illinois Div. ,1949.3¼ 92 - 93 91 - 9:3 91 - 92¼ 01¼- 98 98 - 94 Realstered ......... 3i.. . ... 91¾- 91% 90½- 90¼ .... - .. .. Gold, 1949. . ...... 4 ... - .... . ... - ........ - ........ - . . .. 105 -105 105~-105;J:! ... - . . . ... - ... . . ... - ... . ... - ..• . Iowa Div., 1919 ..... :) .... • - .... 100~-100~ . . . - ...•••• 1919 ................... 4 . . . - . . 102¼-102¼ 1()()%-1001}.f 101¼-101¼ 1011-(-101¼ 101~-102¼ 102¼-102),410~ 10211, 100¼-100½ , 02 - 102 .... - •••• Nebr'sko. Ext., 192'7.4 1015~-106 105 -105¾ lOi¾-105 105¼-106;14 103½-105 103¾-101;14 104%-105 10!1'-105 105 -106 106),( ·107 105½ ·105J.t 105½-106~ S. W. Dlv., 19'lt . .... 4 100 -100 100¾-lOOM . ... Debenture, 1913 .. ... ~ 105J~-106 105!1,!-106¼ 106 -107 106¼-106¼ •••• - •... 105 -105½ 108 -108 108 -103 10s -1oq7-1 .... - .... 10~ -106 Han. & St. J ., cons .. 6 114!,g-114¼ 115 -115 - • . . 114 -114 lUJ.f;-114¼ ... - .. . .. . . - .. . 112¼-112~ . ... - ... 113½-ll~ Chic. & East. Tlllnolslst, slnklnir fund .. . . 6 106¼-106¾ .... - .... 108 -108¼ ...• - ••.. 105~-105:ui . ... - ... . 107¼-107¼ 107½-107~ ... - .... 107¾-108 106¼-106¼ ~mall bo nds ... ....... ti .... - ........ - . . . 103½-103½ . ... - ....... lstconsol., ,ield . .... .. ti ... - ... . ... . - .... 129 -120 - ... . .... Gen. cons. 1st, 1937.~ 115¾-116¾ 116 -116Uj •. •• - ... . 117¼-118 114½-115~ 116 -116 116½1-118½ 111%-119'¼ 120 -120 119¾·120 117¾-118½ 118 -120 Ch.& In.C'l Ry . ,lst./i 112)4-113 11(%-116¾ 116 -116 117 -117 Chic. Ind. ,\r, Lonbv.Refundtnir... .......... ti 126!'4-128 126¼-126½ ...• - .... 128 -129 129 -129 190 -130 129 -U9½ 180¼-lSOM 130½-130½ 131 -132 132¼,13~ .... Refunding, 1941 ..... :i .... lll¼-118 lU¼-lH¾ 114 -114 116 -116¼116¼-116~ .... Lou.N.A.&C.,lst.6108 -108 109 -109½ ... Lll!¾i-111¾112).(-112~ Chic. 1.l'Ulw. & St. P., Consol., 190;) ......... '7 .... - .... 170 -170 169 -173 175 -175 - .... . ... - : . . 172 -172 177¼ 17iX! 18i -184 .... - •.. . 178 -178 Terminal. ........... .. ~ . .. - .... 109 -103 110 -110¼ - ... . 110¾-110~ 109¾-110 110 -llO 110¾-lto~ 111 -111 tten. M.," A." 1989 ... 4 108¼-109 109½-lOSJ.t 107¼-108¾ 109 -109~ 109 -109~ 109 -109~ 108 -109¼ 10~-110 109 -110 110 -110¼ 110¾-110¾ 111),(-112 tReal ■ tered .. .... .... 4 .... - ........ - ... . .... - ... . . . . 109½-109½ .. Gen. lll. ''B" 1989.3~ 98 - 98¾ .•• - .... 97¼- 97¼ . . - ... . 98½- 98'½ .... - ... f,7~- 97½ .... - ... . 97¾- 9i½ .... - . Chic. & Mo. R. Dlv .. /i 119 -119 .... - .. . 115¾-115~ 116 -116 .... - ... . ..• - . .. . ... - . . .. 1191'-llQy, DO -120 Chic. & Po.c. Dlv ...... 6 109¾ -111 110),(-110½ .... - .... . ... . . - . . .... - .. . . t12¾-112¾ ... - ... . .. - .. . j • - •··· Chic. & Po.c. W. Div .~ 114~-116 115 -116 115 -llr>¾ 115 -115¼ 115¾-116¼ 116¼-117 lU¾-115¾ 115M-116 lld¾-1L6~ 116¾-117 117¾-ll'i¾ 117!}.!-1183,(, Dakota & Gt. So • . .. :} .... .... - . .. lOil¾-110 llOxi-111½ 111 -111½ 111!1,!-llll',t - ... . lll¼-111¼ . . . - . . 112¾-112½ 112¼-112H . ... bt H. & D. Div ....... 1 116%-116~ 117~-118½ . ... - .... 117¾·117!14 .... - ... 116¾-116% ... 1910 .................. ~ 106 -106 - •.. . 106 -106 .... - .... 10!} -106 1st I, & D. Exten . .. .. , .... - ........ - ... . 169 -169 1st, Lo. C. & D., '19.~ .... - ........ - .... 112½-112½ 113 -113 Mineral Point Div ... :. .... - ..... ... - . .. 107 -107 lOB¾-106~ 107 -107 .. 106 -106 107¾-107~ . .. let So. Minn. Div .. .. 6 110!!:(-llO;J:! . ... - . . 111 -111 lll½-112 112¼-112¼ 112~-112~ 110¼-110~ 110¾-111 111~-111¼ lll¾-111¾ 112 -112 112~-113 1st So. West. Dlv ..... 6 .... - .... lOQ¾-10~ .... 111).s-112 .... - .... . . . - .... 111 -111 .... Wis.& Min. Div . ..... /i 1H¾-114;J:! 114¼-lUl,4 114 -114 114¾-114¾ 115¼·115~ 116¾-116½ lU -114!4 .. . • - ... . 115,4-115~ . ... - ....... M.&N.,lst,191O ... 6 .... .... - ... . 110¾-111 112 -112 112 -112 .. - . ..... - •. . . 110½-110¼ M.& No., 1st on ext.6 .. .. - ........ - ... 1143-4·114!4 117% 117¾ .... - .... 115¾·115½ ..•• - ... . 116¾-116~ 118¼-118¼ .• • Chic. & Northwest.1, Consol. .. ............ ... 7 .... - .... 129¾·12~ .... - •... 129~-129;J:! 129)4-129¾ 127*128 - •.. . 128l,:(-128J,4129¾-180¾ 130½-130½. ••• • .. . 129 -129 Exten. bonds, 1926 .. 4 lOi -104 .. . - ....... - .... 102;14-105 .... - . ... 10!¼-104¾ . ... - •.. 104¾ 104¼ IRearlstered . . .. ...... 4 .... - ........ - ........ - ........ - .... 102¾·102¾ . ... - . ...... - ......•• General, 1987 . 3½ 98¼· 99 98¼- 98½ 97½- 98½ 99 - 99~ 96¼ · 96¼ 99 - 98 98¾- 99 99 -100 100 -100¼ 100 -100 .... - .....•. "lnklnir fund, coap .. 6 . .. . - .... ... . - .. 111¾-1113-4 . . 109½·100½ Ll6 -118 115 -115~ 116 -116 Slnkinir fund, coup ... ~ 109¾-109~ 109¾-109!1,! 110 -110½ 108}(-108),( lO;J¾-110 109 -110 - .... 109¾-109¼ llU¾-llO'A 110¾-110-~ Registered ........... :, ... . - ... .. .. - .... 106 -107 - ........ - . ... .. .. - . .. . • •·. !l:i yrs, deben., 1909.~ 105¼-105½ 104½·106 105 -105 .... - ........ - ••• lOi -104½ 105 -105 - ... 108 -108 103¾-103~ .... Rearlstered . ....... ~ 104¼-104).4 .... - •.• . 10! -101 - ... . .. .. 3U-yeo.r deb., 1921 .. :i 109¼-108¾ ... - ..• 108½-lOSM ..•. - ..•. 107¾-107'4 108),,(·109~4 ..•• - ........ - ••.. 110½-1103-i .... - ........ Relflstered . ...... . ... :) 108!'4-10~ .... - ••.. . ... 115¼-115~ Debenture, 1933 .. ... :\ .... - .... 115¼-115J,fi 116 -116¾ 118 -118 116 -116½ .... - ... 118 -118 ..•• - .... 1153-4-116¼ .. . . Keal11tered .. ........ ~ .... - .... 116 -116 ... - .... 114¼-114\.i - . . . 104~ \04~ .. . . Mllw. & Mad,, 1st .. ti ..•. North'n Illinois, 1st.~ ... - ... . 101>¼ ·105½ .... - .... Win. & St, Pet., !ld .. '7 .... - .... 112¾-112¾ lOQ¾-109½ 109¾-109'k M.L. ~.& Wht,,'!11 .6 128¾-129 128).(-128½ .. . . - .... 129 -129 126¾-12~ 127~-127'A .... - .... 129%-1:::9!k, 129¾-1~9\11, 129¾-129~ 127¾ ·128 128 -128¾ Ext. & Jmp., s. f . .. .:i .. . - ... - .... 117¼-118'¼ ..• . - ........ - ... 118 -118 J,,q -119¼ .... Mich. Div., 1st ..... 6 .... - .... . .. - ... 1131!1,! ·133 Conv. deb., 19O't ... ~ .. .. - ........ - .... 108 -108 Chic. R. lsl'd & P. Ry.ti 122¼-122¼ .... - .... 123~-13@ - ..•. 121r;s..12S 123 -123¾ 125 -125 - ... . 122½-122Xi . . . Realstered ... . .. ...... 6 ... . - ... 120 -120 . ... - .... ,L23:)rl2i General, 198~. a-••... 4 101 -104 101½ 103 102,:(-103 102¼-104 103 -104!J:( 103½-105½ 104 -105¼ 10¼ -104:}.j 10~-105)1101½-105¼ ,lO-tlJ;t-106½ lOf>¾-106¼ - ••.. 96¾- 97~ let & refund., 1U34.4 ... 101)4-101¼ Coll. tr., ser. C., •o~.4 .. . . 97 - 97 Serles R, 1910 ..... 4 ... 96 - 96 Serie ■ .l'J, 191:J ...... 4 .... Serles N, 19lti ...... 4 .. . 98 - 93 ..•• - ••• . 94. - 94 Serles O, 1917 ... ... 4 .... Serles P, 1918.. .... 4 .... 90 - 90 Railroad, :lOO2 ...... 4 66¾- 74¾ 67½- 72 68 - 70½ 70J4- 78½ 68¼- 71½ 67¾- 69½ 68i$.1;- 72¼ 70¼- 75 74¼- 78 76¼- 78¾ · 75¾- 82-U 79¼- 82¼ Realstered ........... 4 ... - ........ - .... rn!):(- 70¾ 7L¾- 71-U 7tl¼- 7e,<; Coll. tr•• Ir•• 19i3 ... ~ 7& - 85 79).s- 82~ 76¼- 79 78).(;- 82~ 79 - 82 78¾- 80 80 - 82¼ 81¼- 86~ 84¾- 89 86 - 90 88¼- 96½ 93 - 96 Burl. C.R. & No.let.~ 101¾-102 102 -102.¼ 102 -103 103¼-103½ 103¾ ·103~ 101]4-101½ LOl½-102 102]4-103~ LOS -103¼ - .... 103).s-108¾ 101 -101¼ Realstered . . . . . . . . ~ . . . - . . .. .. . . . . . 101~-lOl;J:I . . . . - . . . . . . - . . . •. • 120 -12~ ... - .... 122 -122 . . • Cons. 1st & col. tr .. ~ 117 -117 .... 117 -117 llb¾-115½ 115¾-111'.i¾ 119 -119 - • . . 112½·112¾ ... C.R.J.F.&N.W.ht .. 3 . ... - . .. - .... llOJ.u-110½ . .• - •... 109 -109 - .... 105 -105 Ch. Ok. & G., 1919 .. ~ 104¾ -104~ ..•• 1st, consol., 19:i2 .. ~ 103'7kl08½ ...• D.M.&F.D.Es:t.'O:i.4 98¾- ll8 ... . 1st, 190~ .......... ~~ .... - . .. . . ... - .. . 05 - 95 Keok. & Des M., 1st.~ . . . . - . . . . . . . . . .. . 106 -106 104½-104½ . . • . - .... 106 -106 106½-106;J:! . . . • ~mo.11 bonds ... ....... ~ ... - ... . - . ... 102¼,102!,p ... . Chlc,St.P.Mln.&Om.6130).6-182 181 -131½ 130% -132 181 -133 133 -133¾ 180¼-131 132¼-133¾ ... - .. .. L34 -134½la5¼-135¼ 1L35¾-185~133 -134¼ Chlc.St.P.&M,,bt .. 6180¼-131 181 -181 - .. .. 182¼-182¼••·· No. \l'h, lst, 1930 ... 6 .... - . ... .. . 129~-129'4 .... - ....... St. P. & 8. City-1st .. ti 121¾ ·121~ 121 -121 122¾-122½ 120 -122¼ 121¾-122½ 122),(-122:1:l lZSJ.(-123½ . ... - .... 1122½ 128¼ 124 -124¼ Chic. Term'l Transt..4 78 - 82~ 79 - 82 78¾ · 80 80 - 80¾ 72!,s- 80!l:( 7a~- 76 73 - 75 78¼- 74¼ 74 - 77 77¼- 82 8~ - 85½ 84!!:(- 86 Chic. & W. Ind.-Gen.6 ... 110 -110 111 -111~ ... - . .. . - ... . 113 -113¼ c.o.&G. See C.R.I.&t'. • Cln. Day. & lr,-lst. . . /i .... - ... 111)4-112 113Jc' 113¼ .... 9 ¾- 99 .••• Cln. Ind. & W .. '~3 . .. . 4 .... 98 - 98 99~- 99½ 97 - 97 Clev. Clo. Ch. & !St.L.General ................ .4 95~- ~ 971'- 98~ 97~-101 100¼-101¼ 100%-101 98¾-101 100%· 102 101 -102 101¼-102 100 -102½ 1021'-103½100¾-101% Cairo Div., ht.... 4 .... .. .. - ........ - ... lOOlJ,L-101).( 101!,s-101¼ ~9~·101¼ 100 -100 Cla. Wah. & M., lst.4 .... 98 - 98 .... - ..•..•.• 98¼· 118~ . .. , St,L.Dlv., 1st. 1990.4 100 -101 9li!l:(-101~ 100~-102 102 -102!14 100¼ -100:1:t 1003-4-102 h ,0¾-102 - .... 101½-103 Rearlstered . ......... . 4 99 - 09 . . . ... - ........ - ........ - .... 100 -100 - ••.. 102 -lOJ C. I. St.L. & c., cons.6 105 -105 - .... LOO 100 - •... l02½-102½ 102~-102½ ...• - . . . 101,fi-103 - .... 100¼-101¾ . . • • 1st, goJ.d, 1936 ..... . 4 101 -101 - .... 112~-ll5J,4 .••. •... 110½·11~ .... Ctn. 81?.n. & Cl. con ■.:J .... https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis -- ull - :::·::::•= 77 RAILROAD BONDS. 1904-Continue<~. BONDS. JANUARY FEBR'RY . MARCH. APRIL. MAY. JUNE. JULY. AUGUST. SEPT'BER. OCTOBER Nov'BER. DEC'BER• . - - - - - - - - - - - 1- - - - 1- - - - - - - - ·- - - - -r - - -~----·- Low. High Low.High Low.Hi1Zh Low.High Low.High Low.High Low.High Low.High Low.High Low.Hi1Zh Low.lligh Low. High, - - - - - - - - - - - - - - - - - - - - - - - - - - - · /----1---·-· l- - - - -1- - -·- - -·- - - - - - C. C. C. & St L. -(Con.) C. C. C. & I., consol..1 ... - ........ - - ... . 126 -126 123 · 123 Gen. consol., 1934.o .... - ...... .. . 128 -128 130 -130 Peo. & E., 1st, cons .. 4 95½- 98 07 - 07 05¼- 06¼ 95 - 96 06½- 01».f 96 - 98!}4 98¼ 100 99 - 99 100 -lOO!J;! 98 - 9:)¾ 98 - 99¾ 9 ½-100 Incomes, 1990. .4 60 - 64½ 63 - 64 63 - 65 50 - 59 58 - 69 50 - 62 61 - 66 65 - 68¾ 67!'4- 70 60¾- 73 71 - 74¼ Clev.Lor.&Wh.-1st.~ .. ., - ... . 112¼-112½ Clev. & ,U. Val , '38 .. 1} . ... - .... 116 -11 6 .... Col. Mid. 1st, 1941 .... 4 56 - 63¼ 60 - 61 60 - 60½ 50 - 60½ 60 - 60 68¼- 59 58 - 60¼ 60½- 64 63½- 67 e6½- 69¾ 68)1.- 73 723,(- '77¼ Col. & !So.-l8t, ghe9.4 87 - 80½ 84~- 87¼ 84 - 86 85 - 86 83¾- 81~ 82 - 84 83~- 85¼ 8:1¼- 84¼ 83¼- 86¼ b5¾- 88¾ 87!}.t- !JO 88½- 9<i Delaware & Hudsonlst, Pa. Div., 1917 .. 7 137¼-137¼ 137 -137 133J14-133¾ . ... Alb. & Su11q., lst, iru.'7 108 -108 - .... 105¼ 106¼ .. - ... . 106 -1C6 .... 104)4-104¼ - •... 106 -106 - ... . 104 -1C4 1st, aruar •• 1906 ... . ti ... - .. 103¼-103¾···· - .... 103 -103 Rea-istered .. .. . . .. . 6 .. Reuss. & ~ar., lst ... , .... • . . 146¾-1461jf. . . . - . . . . . . . - .•. . 142 -142 Del. Lack. & We&t'n1907. . .............. 1112¾-112¾ .... ... . 109¼-109¼ . ... - .. . . . .. ll'Iorrl11 & Essex, 1st. 7 129¼-120½ 129¼-129¼ 131¼-131¾ .... - . .. . 127¼-127¾ 128 -128½ 120 -l 30 - .. . 128¼-128¼ 128¼-128¼ Consol., guo.r........ ., .... - .... 130911-130¾ ... - .... 1:U¼-131¼ 132 -133 128¾-1281-,. 130 -130 130½-180¾ .... - ........ - ........ - .... 129%-129¾ N.Y. L. & W., bt .. . . 6 127 -127 ... - .... L28¼ ·129¼ . .. - .. 129¾-129½ 129:l,!-129~ 128¼-126½ 129¼-129½ ..• • Construct'n, 1923 .. 1} 114½-ll4½ lll¼-111¼ 112 -112 112¼-112½ 114 -115½ 114%-114~ 114~-114½ .. .. Term'I & lmpr'mt .. 4 lOOJ,4-100¾ . . ..• - .... 100¼-100½ ..• - .. 103¼-103½ ... - ... .... . . ... 105~-105¾ 102¼-102¾ . ... Sy1·. Bingh. & N . Y .. 7 .... - .... 109¾-109% . . .. - . . . 108¾_-lOb¾ .... - .. . Denver & Rio Gro.udeConsol., 1936.. . . . . . 4 97¾- 98½ 97¼- 98½ il6¾- 08 07!14- 99½ 08¼- 09!}.l 08¼-101!,.t 00¼-101¼ 100¼-101 98~-101½ 100¾-101~ 100!),!-101,4101½-102½ . 1st, consol., lft36 ..4 • .. . . - ... . .... - . . . . . 104¼-104¼ . . • - . . . . ... - .... 109 -109 Improvement, 19-.?~.5 103 -103~ 104)4-104¼ L04¾-10!1.¾ 104¾-106 108 -106½ 104 -10! 105½-106½ 106 -107 107¼-107½107 -10 I 107¾-107!1,f 107½-107¾ Rlo G1·. "e8t,, 1 Ill. .. 4 0.l - 07 95 - 06¼ 05¼- 06½ 95¾- 96½ 05§s- iltl¼ 06¼- 99¾ ii7¼-101 90¼-100 99 -100 00 -1<.,0 OJ¼-100¼ 09¼-100¼ IUort. & coll. tr.,A .4 83½- 85½ .... b5 - 85 83 - B!l½ Si¼- 88½ 87¾- t,0½ 88¾- YO 89 - 01 89½- oo 88 - t8¾ 88:l,d;- 89½ !:O - 8.1 Denv. & So. W e1tt.geu.O 35 - 36 2-! - 24 . . . . 99,<;-110 Des Molne11 Un.-l8t .. ~ •· Det. & l.llack.-ht l'n.4 . ... 00½- 90½ . ... !JS - 08 100 -100 100 -1 o Gold.... ... ........... 4 9!l - 94 03¾- 94 O!l - 04 94),4- 0!1.)4 92¼- 93¾ 02½- 92½ 04j,,i- 94½ 95 - 1!5¾ 95¼- 05½ 95½- 05½ 05½- 95½ Det.-olt So.-1st, •~1. 4 •·· · - ........ - . .... ... 38 - 45 3i - 41 38 - 38 41 - 44 45 - !1.5 45 - 67½ 67¼- 70 Ohlo ~o. Div., ht .... 4 . ... - . . . 83½- 8!l 79¼- 79½ 70 - 79 80 - 80 66½- 70 7d - 711'4 78 - 78 78 - 81½ 81½- 88 88 - 00 60 - 78 Duluth & I. R.-ht .. . :} 110¼-111¼ .... - .... 112¼ ·112½ 109:)(-112 110½-110½ 110½-111¾ - .... 112¼-112~ ... . - .... 113½-113¾ 114 -117 .••. - ... Oul.S.S.&Atl.-1937.:i 111 -111 - .•. 112½-112½ 113 -113)4 . ... - • . . . . •. . ... 113¼-113¼ E.T. Va. & Go..-See So . El,:. Joi. & E.-lst, g .• ~ 115 -115 - ••.. ll!l¼-114½ 113 -113 115 -115 116 -116 - •.. 116¼-116¼ 1173,s-117¼ .••• 114 -114 Erie-1st, ext., 1947 .. 4 •·· · 2d, Ext., 11H9 ... ..... :} ... - .... 112½-112½ 112¾-112¾ ... 113¾-113~ .... 3d, Ext., 1923 ...... 4¾ 111 -111 110½-UO!Ji! - .... 108¼-108½ 108,¼;-108½ 110 -110 - .... 100 -100½ . ... 4th, Ext., 1920 ... .... :} 114½-114½ 114,½i-114>11 114 -114 .... - •... 111 -111 :Jth,Ext.,19 .l8 ...... 4 .... - ... . ... 103½-103½·•·· .... 101½-101½ lat, conl!lol., gold .. .. 7 132%-135¾ 135¼-135¼ 131¼-131¾ 131¼-132½ 132½-132% 131%-134 . . . -;- . .. 132½-183 13!1.¼-134¾ 134½-135 ... . - .... 1st con. prior Uen, g.4 117 - 98½ 9tl½- 98¼ 06¼- 97~ 07>9- YS½ 98¾- 98% 08~-100)4 98)4- 00 08¾- 99¼ 08¾- 99¾ 00 -lOl>fl lo0¾ -102!,,i 101½-102!,ti Rearlstered ........... 4 98½- 98½ ht con. ~en. I., '96 .. 4 84 - 86>t 84 - 86¾ 84¼- 85¾ 1:5½- 87¾ 85 - 87 84¾- 86¼ Si - 86 84%- 87 So¾- 89 87¼- 89¾ 88½- 92 01¼ • 93¼ Registered ... ... .. .. 4 85¾- 85¾ - ........ - . . . . 88 - 88 Penn. coll. tr., lDfil.4 80¼- 03½ 88¾- 00% 89 - 00 80¼- 91 89 - 01½ 80¼- 92¾ 92½- 95¼ 01¼- 02 01~- 93 02½- 03½ 93¼- 05¾ 04 - 05¼ 05¾- 9.l fiO-yr. couv., 19:JJ .. 4 .... - ... .... - ... . - .... 127¼-127¼ . . . . - ... BufT. N.Y. &E., 1st.1 .... - ... . - .... l25¼-125¼ . . . . - .... 106 -106 Buff'. & !!S. W., a-.,•o~.ti .... - . .. . . .. - .... Chic. & E1•ie, 1st, g .. O 117¼-118¾ ll7½-118 117½-118½ 118 -119½ 116 -117 116¼-118½ 118½-120 110:%-120 120>9-120½122 -121 120 -122 121¼-121¼ Jetrerson RR., 1st O .... - ... . ... - .•. 103 -103 Lona' Dock, cons.' 3fi.ti . . . . - .... 131 -131 l32 -18~ 130 -132 . ... - ... us -118~ 115~-11594 117¼- .1 . 7,j 118 -118¼ . .•. Ueal & Rlt, l ■ ta-11 .• 6 113¼-113>!! ... - .. . N. Y. & Greenw. L .. :J 108½-108½ .... - . . . . - .... 108%-1087A . ... . . lfJ!}¾-100~ l.llld.J'd of N. J ., 1st ... ti 111 -111:Jf_ lll½-111½ lll¾-111¾ ll0¾-110¾ ll0~-111 N. Y. Sus. & w .. ref.I} 100¼-H9¾ ... - . . .. 110¾-110½ 111 -Ill lll -111 - . . . lll -111 - ... . 1U¾-115½115¾·1151)t. .••• •••• 102 -102 103 -lO<i ~d, 193'1 ........... .4½ ... - . ... ... - .... .... - . . . 101¾-101¾ lOO -lCO 00~- GO¾ .... - . .. . 98 - 08 Gen., gold, 1940 .... :i 103!,,1-104 . . - .... 102¼-102½ lOl¼-102½ t02½-103 103¼-103½ 102¼ 103½ .... - .... l06 -106½ 107¼-109 109 -110 - ... . 117-117 ... - ....... Te.rm'l, 1st, 1943 .. :i 113¼ 113½ ... . 107½-107½ 109¼-111 100½-10)½ 11()¾-110¾ lll!,,(-111¾ 112½-112¾ 109¾-109!1( Wilk.& E., lst,'4·l.O 106xa-107¼ 108 -108 107¼-108½ 108¼{-109 107 -107 - .. . . . . . - . . . . ... - . . . . .. . - .• .. 107¼·107½ 108 -116 Evan.&Ind.-lstcoo.6 •·· · l :tO -ltO . . . . - .... 121½-121½ . 123 -123 . . . . - .... 116 -116 Evansv. & T. H .-Con.ti . ... - .... 103 -108½ ..•. - .... 101 -103 105¼-105¼ 105¾-105¾ !Oil¼ lOi½ •.• - •.• . 105½-106 1st, a-en., 1942,gold.~ .. .. . . . - .. . . . . . . - .. . 1U4 -104 Sullivan Co. Br'ch . . :} . ... Fl. & P. Mq.-See P. Mq. Ft. W • & D. C.-ht .... ti 102¾-105½ 104 -105½ 10!¼-105½ 105½-107)4 106¼-lOg lO!l -104½ 104 -104½ 104½-105½ 106½-llO½ltO -111¾ 110~-111¼107¾-108!1( Ft. W. & R. Gr.-lst .4 71 - 71 73½- 74 72)4- 78¼ 72½- 74 75 - 75 76¼- 78 83 - 83½ SZ - 85½ 84¼- 85 84 - S5J.t 84¼- 86% 85½- 89 Galv. H. & H. ot'~!l.. ~ 101¾-101¾ . .•. - •••• 102½;-103½ ...• - .•.. 102½-102½ 102¼-102!,.f . ... - .•. 103 -104½ .... - ..•. 102 -103 103 -103 103 -103~ G.H.&S.A.-SeeS.P.Co. Ga. & Ala. l See S0ob. Go.. C. & No. r Air Line Ga. Pacific-See ~outh'n G.No.-C. B.& Q. cl.tr.4 00¼- 04 Ill - 03}.i 91¼- 04¾ 93:J,!- 94¾ 94 - 04¼ .,04¾- 98 05¾- 99~ 06¾- 07~ 06!,(- 07¾ 97¾- 98½, 98¼-101½ 09½-101¼ Registered..... .. . 4 00 - 01¾ 01¼- 03¼ . . .. - .... 02J.ti- 93 92¾- IJ3~ 921),(- 04¼. 94.i}.(- O ➔ 96¾· 97¼ 05¼- 95½ 05¼- 97 00 -100 07¾- 00 Gu It & Sh. I. 1st rd . . I) 102¾-103¾ l02\i-103¼ 102 -103 103¼ ·103½ 104 -104½ 10!1.;.(-105¾ 102½-103¼ 102J1H03½ 103¼-104¼ 10-i - 101½ 1031>.(-l<:6 106 -106 Hoel,. Val.-lst,cons.4½ 103¼-105 104%·105¾ 104!14-105¾ 105~-107¾ 107 -107½ 107¾-110¾ 107¼ · 10 ➔ 103 -109 108 -108¾ 108 -109¾ 109 -111½ 111 -111¾ . U.egl8tered ... .... . . 4~ - ... lO i½-1 07½ - . . . 105½ ·105½ ... . C. & H. V •• 1st, ext .. 4 ... - ... . lU0¼-100¾ H. & T. c.-See So Pac . J lllno!s Centro.I- •. . 113 -113 •••. - •••• t st, gold, 19~1. •...... 4 .... - ... . ll5 -115 . • • • - ... . ... 102 -102 ...• 1st, gold, 19:i1 .. .... 3½ .. .. - •.. . 101!4-101¾ . . . • 70 - 70 - ... . ...• l1t1, sterling, 19~1.. . 3 .... 102½-10! 106 -106 105 -105¾ .. . • - ... . 105 -105 103 -106 103}.!-103~101¼-104¼ Gold, 1 9~~ .... ....• . .. . 4 .. . - .... lO<i¼-10!1.¾ 104 -104 104 -101 103 -lO!S 102 -104 104}:!-104¼ Gold, l~'i3 ............ . 4 102 -103 102½-103 102¼-103 103½-103½ 102§11-102¾ 101 -101 Registered ....... ... . 4 .. . . 95),fr- 05~ C4 - 04½ 01¼- 94½ 95¼- 05¼ 06 - 06¾ 06¼- 06!4 96¼- 97¼ 03)1;- 93½ ..• Lo11l8v. Di•r., gold.3x, P3!,(- 03¼ 05 - 05 84¾- 85½! 86 - 86¾ . ••• Omaha Dlv., 1st, g .. 3 .... 85¾- tlo¾ 81 - 85 . . . . St L. Div., iiol ,. . . a 80 - 80 . . •• - . . . 85,¼- 85½ . . . . - . . . . .• 93 - 93 . . .• - . . . . 04½- 05 94¼- 04½ . . . . 19:il ................. 3~ ... . - .... 105¾-105¾ ...• - ••.. 107¼-107,4 .. .. Western Llne11, I st .. 4 ... . 106¾-l06lr4 . . . . · . .. - •. . 124¼ ·124½ ..•• Bellev. & Co.r., l11t .. ti ... . C. St. L. & N .o., r .. g .~ . . .. . ... 118 -119 110;14-110¾ . . . - ... . - .... 100 -109 - .•. . 104¼-10!¾ .... lllempbi ■ Div., l11t.4 .... Gold, 19l t. .... ... 3½ 87 - 87 08¼- 08¼ 03:)f\- 93~ - ....... - ... 102½-10:2¼ 103 -103 St. L. Soulh'n, t .. t .. 4 .. . . ln.o.& W.-lst.g.'3,j.fi . ... - .... 100 -106 08 - 08 . . .. - •... 08¼- !JS½ 09}{1- 99Xi . .. lud. Ill. & 1.-ll!lt,'~0.4 .... - .. .. 99 -101 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis - .. . .... - - ... . 18 R AILROAD BONDS. 190.f-Continued. BONDS. ,,---~- J A.NU.ARY F E B R' RY. APRIL. MAY . J U LY A UGUST. Be:PT' BER. OCTOBJrn . N ov ' B ER. OF,C'BER. - -- - - - Jlij½ ·119¼ O,) -100½ 68 - 72 . . . - . ... .... - .. . 109¼ -109¾ 11()¾-112 109¼-110)4 110¼ -110½ 111 -111¾ u o -110¼ 110 -11231t 112~ -114 114 -114¾ 114¼-114½ . - .... 87:k ~6 86½ 85½88½ 87¼.. .. ti5 - 87½ 86 - 88 89 - 89 .. .. 118~ -119~ 119~-119~ 119 -119 97 - \J O 98;1,4- 9J¼ 99 - 100 . . . - .. . 121¾-121¾ 121¼ -122 ... - . .. . . .. - . .. . 119)4 -121 120 - 120 98½· 99¾ 99 - 99¼ 99¾-100¼ 98:)4- 99½ 98½-100 98½ l CO 9d¼-100 69½- 70¾ 68➔.{ - 70½ 68 - 70½ 6~:£- 70¼ 69¼- 70½ 69¾- 71~ 115½-117¾ 118 -119 117 -118 118 - 119 119 -119 ~d ............. ....... ... . :; 110¼-112 .... - .. . . 112 -112½ 112½-11 2½ .. .. Northern Ohio, 1st .. :; .. .. - .. . 111¼ ·112 .. .. - L. Shore-See N. Y. C. l,eh. Vall. <Pa.), coll .. :; . ... - ... ... .. Leh.V.N.Y.-lst, arn.4½ 104¾-106 .. .. - . . .. Rellletered .... . ... . 4¼ 105 -105 Leh. V. Ter.-lst, iru .. :; . .. Leh.Val.Coal-lat.,gu.:) 107 -107 Leh. & N. Y.-lat, iru.4 ... E. c. & N., lat pret . . t .... 1914, auar ... ....... . :) .. .. ooir lsland·bt, 1931 ........ .... ... :; . ... ;Gen. mort., 193S.... 4 100¼ -100½ 100~ -100½ .FerrY,, tat, 1922 ...4 ~ 101½-101½ 101. -101 Gold, 1f)32............. 4 . . .. 99 - 9971> ,Unified, 1949.. . ...... 4 9.} - 91! :Debent~, 193 •..... :; .... .Gen. ref., ir~• 1949 ... 4 ... N,Y.& Roc~.;B., lst.ll . ... North Sbore Br',ch ... l) ...• - .... . .. .Louia'a & Ark.-lat .. 6 ... ,Loul ■ville & Naahv.General.. .. ......... .. (j L16 -116 ll5¾-116 tGold, 1937............. :1 . ... ,Unlfled, 1rold, 1940 .. 4 98>4- 00¾ 93 - 99 Reirist.e red .......... 4 . . ,Col. truat, a.. 19St ... :; 109 -lO;}½ ~Coll.tr.,~•!lOa,1923.4 ... - ... . .E.H.&N., lat,'l :#_t; .... - .. . ,Louta.,q\n. & Lex.4¼ . .. - . . N. o..~ Mob., tat .... 6 l~M-124 !Id, .1930 .............. fi ... - .. . - •. . ;St. Lo.u.l ■ Div., lat ... C1 . .. - .. . Pen ■ac. & .A,tl., lat .. (i' 1)..5 -115 Ken. CenJ,, 198,. . . ... 4 97~ - 98 L&N&M&M,lat.11,~ ... L.& N.-l!!lo,-tbjoint.4 89 - ~2 91}(• 92 N.F.&8.,lat,iru.'31'.:; .... So. & No.Ala., auar.~ 1;1.1; -115 ,Loai8. & Jeff. B'dire . . 4 · . .. • .L.N .A.&C.-&eC. 1.&L. Mauhattan-1990 ...... 4 102 -108¾ 103 -104 Reirlatered . ... ........ 4 .... Metropol.Elev., 1tt .. 6 107~-108 LOS¼-103~ 67l¼- 7lx 64 - 69 1Mex.Central-Conaol 4 lat consol. Income ... 3 H¾- 16~ 12~- 15 !ld conaol. income ... . 3 7½· Ill¾ 7 - 8½ Coll. truat, 1907 ... 4~ 91!,(i- 96 91 - 9! •Mich. Cent.-See N. Y .c. M.L.S.&W .-see O.&N. illl• & N.-SeeC.M.&S.P. llllnneap. & St. LouhPaclflc Ext., 1 at .. •.. 6 . . - . . . 120~-120x Iowa Ext., l ■ t, '09 .. , . ... - .. .. l ■ t, con., 1934, a .... :; ll5½-115).{ , 14¼-115¾ 97~-97!14 1 ■t&ret.,1949 .... .. 4 97 -98 pt.St.P.& s.s.M .• '38.4 .... - .... ,Mo. Kan. & Texaalat, 1rold, 1990 ..... .. 4 96½- 9~ 96¾- 1!8 !ld, Income, 1990 .... .4 79 - 81 75½ - 78x. 1st, exten., 1r .. 1944.:i 98½- 99¾ 93¼-100 ,St. Louis Div., lat .. 4 ,Dalla ■ & Waco, lat.:i 102 -102 87 - 88¾ K. C. & P.,lat, 1990.4 87 - 87 Mo. Kan.& Ok., lat.I) .... lU. IC& T. ofT., lat.:i 99 -100:,. 99¼-101~ Sher.Sit.& S.lat, (lu.:; 100 -100 Texas & Okla., 1 Bt.,6 .. . ,no.Kan.&East.-lst.:} 108 -103 LU -Ill ,llll88011 rl Paclftc- .... 3d, 1906 ................ , .. .. lstconsol. .............. 6 11 ¾-119-U 119 -119~ Trust, arold, 191 '7 •••. ;'l 104%-107 106 -107 1st, collat., &',, 19!l0.:} 106U-107¾ 108¾-105 91¾- 92 Cent.Br'ch Ry., lat.4 93 - 93 Pac. of lllo., 1st, ext.. 4 .... - ... . l Ol -101 2d, 1931', ext ....... :; .... · . . . St.L.&J.M.iren.&l.g.~ lll¾-113 112¼ -113½ Unify.& ref., 19~9.4 84 - 86 84.;.(- 85¼ - .. . . Rearl8tcred .... .. .. 4 .••• - ... . Riv.&G.D .,lst ... . 4 .... - .. . . Jllob. & Blr.-Pr. llen.:i ... 194~ ... . . . .... .. ....... .4 .... - . . 91 - 91 Small bond . .. .. ... . .. 4 . ... Jloblle & ObloNew, arold, 1927' .. ... . 6 . . .. 1st, Exten., HU7 .... ti 130 -ISO Gen. mort., 1931'..... 4 94 - 94 Montirom. Div., 1st.. :; 114 -114 !St L.& Cairo, col.tr.4 ... . .. . Guar., 1931, irold .. 4 . . .. p.!or. L.&T.8S. - See S.P. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis J UNE . Low.High Low. Hlith T,ow.Hlgh Low.High Low .H iith Lo w. IIiith Low.High Low.Hlith Low.High Low. H ig h I.ow. Hli.rb ,ow.High ·- - - - ·- ·- - ,internQ.t' I & Gt. No.lst, 1919 ............... 6 2d, 1909 ................ :; 3d, 1921 .. . ..... . ...... 4 •Iowa Cent.-lst, gold .. :; Refunding, 19:il. .... 4 ,aan.& lll.-See T.&O.C. il~.Clty So,-lst, 10:;o.3 Ji.en. Cent.-See L. & N. L. Erle & We11t-l11t ... :; MARCH. 106 -106 - .... l07 -J 07x 107 - 107½ l071J.!-10:!~ 119 -119¼ 71 - 7l!j:f 71½- 78¼ 72 - 73 71¼ - 72½ 'il½ - 7J 72~- 78¼ . . - .. . . 119¼ ·11~ 119¾-120½120¼ -lZO½ 1W)4- 120x 120 -120 .. (1 2;~-112¾ •• 114½-114¼ .... 116 -116 110 -115.¼ 115 -116½ . .. - - .. .. 108,v-108½ 110 -110 LOS -109 107¾-lOTU 108 -108;.( 10,J¾-109½ 110¼-110½111¾-111¾ 116¼-116½ . . . - . ... .... - .... 108 -108 - .. .. 116 -116 . . . - .. . . 111 -111 - ••.. 9J - 99 .... - 92 - 93 i19 l;t-121 t00~ -101½ 7 ll>.{- 72M Ll3 -113 86 - 87~ .... - ... . 98½ · 98¼ 106½·106½ . • • • - - . • . 10)¾ -100~ - .. . 116 -116 100 -100~ .. .. - {18½-100 ... - ••• 96¾ - 98 - .... 116¼ -116}.a 98 - 98 100 -100 99 - 99½ . • .. - • • . . 99 - 99 98 - 99 too -101 101¼-lOl¾ - . .. . 110 -110 - ••.. lOQ¼-100).fj . . . . - •. . . 101 -101¾ lOl;.(-101¾ - • •• - • . . 100¾-101¼ lOl¾,-101~ 101 -10$¾ 116½-llS 102 -102 102 -108 100½-100¼ 100 -100 99¼- 9111,,4 . .•. 101J,Q-101½ 100 -100~ 100½ -101 102½-l02x 102}d-I02¾ - . . . . .. . lOlM-108 L00~-100½ lOQ¾-101¾ 101¾-102J.i 101¼-102¼ - . . . . . . . - •.. • . . • . - .. lO'l½-107½ .. .. - .. . 109 -109 . .. . - .... 103¾-104¾ 102 -103¾ 103 -103~ 108 -1031}.j 103¼-103¼ - ... . 121 -122 118}1i-119 115~-117¾ 117¼-117½ L17 -117~ 117 -118 - .. .. 115¼-117 114½-114½ 115M-115¾ .... 98;.(- 99 99)4-100:14 100%-101¾ 100;,(-101 100'.U-10211.( 102¼-103~ 103 -104¾ 98¼-100¾ 100¼-101¾ l00~-102 . .•. - •.. . 101%-101~ .... - .... . ... ~ .. . . • • - ........ - .. . . •.. - ........ - .. .. llO -110 . ... - . . . . ... - . . lll¼-118 .... - ........ - ... . .... - .... 116¾-116½ 112¾-112~ 114½-115~ 9614- 96➔.i 96¾- 97½ 9 7¼ · 911½ 98¾- 99¾ 98¼- 99½ 98¾- 9J¾ 97 - 97!,t 97~- 98½ 117M- 98M - • .. lll¼-lll!>i . . • - • .. . . .. . - ... . 118¼-114 . • • • - .... L15¾-l16'4 114 -114 - .. . . .. • • - ....... - ... 105){,-105¾ . ... - ... . - ....... - .... 123;.(-128¼ 126½-126½ .... - •.• lS0¼-180½ 131~-131!,i, 131M-181¾ 125 -125 I ll>¾ -115¾ - ··• · ... - ... . l24J.1i-l2•¼ .... 119 -119 121 -122 .. • • - 99 94 92 - 9i 91½ 91 - 91¾ 91¼- 92"1 92¼- 94 - • .. 115 -115 117¾-117½ ..•. ........ . . . 112 -112 .••• - .... .. .. - . .. . 117 -117 97½ 97¼- 97½ . .. - • • . 98¼- 98½ . . .. - . • .. 98½- • • . . 93 - 98 91 91¼- 99½- 99½ 99 - 119 LOS~-104 101½-1C2¾ 102M-10S:l:1 103~-105 L08!,6-108}4 64 - 65¾ 1s - 14¼ 7 - 8¾ 91~- 94¼ 108¾-109¾ 64'½- 68 12½- 13~ 6 - 8 94M- ll6 96 -96 97¾-100 'i7~ - 7 99 -101 80 - 82 86 - 86 99¼-101 102!,g-103 111 -111 1093,L-109:J4 68!,6- 67 12 - 14 7 - 8 95 - 95 99 100¼-100½ 101¾-101!,( 101¾-101¾ 100 -100 .... 105¼-105½ 107¼-107½.... - . . . . 108':(-1~ 96¾- 979' 95½ 95 - 96)4 95 - 96)4 95~- 97 - .... 116 -116 - . . . 115 -116 • .• . • •• - • . • 98 - 98¾ • • . 99 105 -105¾ 105¼-106½ 106¾-107~ 105 -1051}.( 105 -106¾ 10i> -105¾ - .... 105 -105 .... 107¾-107¾ 107¾-108¾ l<IB¾-108½ 108~-108¾ 109"-110 75½- 77 61!,(- 62~ 6231t- 68" 68!>(- 7il,,i 72 - 79 64 16:U- 24¼ 20 - 28½ 21 - 25M 15¼ 13¾- 14U 14"- li SJ,v- 10¾ 10 - 17½ 15 - 19~ 15¾- 173' 9¼ • • • 96 - 96 92'4 ..• : - .. . 92 - 92 {12 - 94 94. - 96 109¾-110~ 60 - 65 62 12 - 18¼ 13~6¾- 7:1:1 7~98!4- 93½ 92~- - ... . - .•. . 118 -114 l l4J.(-116 118 - US 118 -118 95!1i- 9d¼ 96 - 96~ 96~- 96~ 96!4- 96~ 95~- 96 9!J - 99 . . . . - . . . . 99½-100~ 100 -100\lt 98 - 98¾ 7'i¾- 79}4 77¼- 78~ 'i6¼- 79 100½- 104!){, 100 -101½ 99¼-102 .... - ... . 111 -111 118 -113 116 -116'4.... - •••• 95~- 95~ 95 - 95 OOM- 97~ 96¾- 973' 97¼- 97½ 91:1 - 98¼ 93½- P9¼ lQO¼-lOOM .. . . - .. .. 117 -117 99¾-100~ 100 -10()¾100¼-102½ 101%-103 100 -101~ ~ - 87 84½- 86¼ 78 - 80½ 79¼- 60,h 80"'- 87 103 -103½ 102¼-lOS~ 103¼·10~ 102 -107 l0~ -104 86½- 88 b7)4- 87~ 85 - 85~ 85¾- 88 85 - b5 - . . . . . . . . - .... 105½-105½ 104'4-105~ 90 - 90 91 - 91'U 92¾- 95 94 - 94.Xi 8!i - 9) 86½- 86½ 87½- SS!la 8~- 88"4 90 - 90 . . .. - .. . . . . - .... 104 -105 104~-104¾ - .. . . ... 100½-102}4 101 -102¼ 101 -102¾ 102¼-105}.f 105 -106¾ LOS -104¼ 103~-106 105 -110 105M-107 - . . . 102 -102 105~-105)4 104),ja-104¾ 106 -106 ... - .. . . 103 -103 - .. .. .... - ........ - .... L04 -105 lOHi-104¾ . .. - .... 111 -111).4 lll¼-112½ 108¾ -109}{i 10~-110~ llO¾-llC.¾ 106½-108 108½-lOb½ L09 -110 109½-109½ 120-U-122¾ 105¼-105½ 105~-106 92½- ll3 101¾-102¼ LIO -110 112¾·1137i, 87½- 88½ . .. - . . . 87¾- 87)4 91 - 91¼ 91¾- 92¾ lll½-1113,,.i . ... . .. . - 107¾-107¾ L19¼-120 104 -105¾ 104¾-105¾ 92}d- 92¼ 101¼-101,<i l09Xi-103½ 112~-115½ 85½- 88 .. . . - .... 119¾ -119~ 105¾-106.½ l06 -lO'i¼ 98¼- 9,1, 102 -10!¼ 113:J(-lU¾ t13 -114¾ 67¾ · 88½ 98½-100¾ 'i9 - El 101½-103~ 82½- 88~ t06¾ 10 ;¾ 108 -108 tll}¾- 120¾ 120~-121½ lOJ -107¾ 107½-103 107½ -108¾ LOS -103¾ 96 - 06 93¾ 95 l 03J1i ·l0S7fj .... - . . . . ... - ....... - .... ll4¼-116 115¾-116¾ 88 - 91½ 88¾- 90¾ .. .. - . . ... ... - ... 109 -109 . ... - .... 105~-100¼ 121¾-122 122 -122~ L22¼-122½ ll°"-121 121¼-128¾ 107¼-109¼ 105'.U-106l'4 106 -1~ l061Ui-107½ 107 -108¼ lOJ -106½ . .. - .... 1071¼-108¼ 108½-109 LO ➔ -109 i..5½- 98 9i½- 95½ 95½- 96 91¼- 96 9,i - 95 l02½-102½ . ..• - . . . . . .. - ... 102¾-103¾ 108'.¼-103¼ 113¼-115 Ll5½-115!,(i 116 -116 116 -116 116½-117 116½-117 117 -118 L14.%-116¾ ll5¾-117~116 -117 89¾- 91½ 91¼- 93¼ 92 - 93¾ 9J½- 96~ 95½- 96¼ . .. - . .. . . ... - ..•• . .. . 91 - 9.2% 92¼ - 94 93¾- 96 95¾- 9J 95 - 96 - .... .. .. - 98M- 97 - .... 95 - 95 - .... 9i - 94, - ... . 126 - 126 - .. . . 121 -121 - .. . 90 - 98½ - .. . 88¼- 88½ 90 - 91 95¼- 96 95½- 97!4 .... - . ••• - 126¼ -126!>i l23~-128¾ .. .. - .... 125¼-125~ .... - ... . 128 -128¼ l28½-126¾ 126 -126 . .. - . . . 93 - 93 113½-118½ . .. . 90 - 90 94¼- 9!½ - ... - •.•. 112 -11~ . .. . - 96¾- 96;4 9t1¾- 96~ - . . . 115 -115 . 92¼- 92!,i . ••• - ••• 101 -101 . ... 79 RAILROAD BONDS. 190<1-Continocd. JANUARY FEBR'RY. MARCH. APRIL. MAY. JUNE. JULY. AUGUST. :5EPT ' BER.l0 CTOBER '-O"' BER lJEC.Bl!:h , BONDS. Nash. Chatt. & St. L.tst ....... ········ ... 7 120 -1201,, 120 -120 120.'.l,!-123½ 122½-123 123½-123¾ 124¼ -124½ . . .. - ....... - •... 121½-121½122¼-122¼123¼-123¾124 -125 Consol. g., 1928 . .... . t> 112 -112½ 112¾-113 115 -115 110½-111 112½-113 112 -113¾ 113¼-·1 15¾ 115 -115~ 115 -115!,d 113½-113¾ 114¼-115 115 -116 .rtlcll • .rtl. W.&AJ. .. . 6 .... .. - .. .. 113½-113½ T. & P Branch, 1st.ti .. .. . ... - ..... . . - . .. 113 -113 Nn.1ionn.l of MexicoPrior lien, 1926 ... . 4½ 100¼-100¾ 100 -101 101!,i;-101½ 102½-102½ 103~-103~ . ... 102~-10~¼ .... 104 -104 10-t -104 1st, consol., 19:i 1.. 4 74½- 'i6¾ 73 - 76¾ 73¾- 76 73½- 74¼ 73¾- 74½ 74 - 'i8 76½- 78 75¾- 76}i 'i6½- 78 76½- 80¾ 79:14- f-2 81.½i- 82 N. Y.Cent'l & Hud.R. Gold, 1997 .. ........ . 3½ 97¾- 9~ 96¾- 98¾ 97 - 97~ 98 - 98¾ 9E¾- 99¾ f9~-101¾ IJ9 -100 99½-100~ 100 -100~ 100 -100½ 100¼ ·101¼ t00¾-101½ Re11istered ........ . 3 x 98 - 93 98 - 99¾ . ... 99 -100 - ... 100 -100,t, 9 ¾ -100¾ Deb., 1884•1904 .. .. . :; 102!,ti-102:U 102¾-102¾ 100 -100~ 100¾-100¾ 101¾-101¼ 101!ij-10l;J4 ..•• Redstered ... . . ..... . :; ... ... - ... 100¾-100¾ 100%-100-U .... - .. Re11. deb., 1~99•04 .. 5 . ... - ... . .... - ... l C0½-100½ . ... - ... . •... - ... .. ... - ... . 101 -101 100¼ 100¼ Deb., &l°•• '90-190:i .. . 4 100 -10~ .... - ... l W¾-100¾ . ... - . . . . ... - ... . . . . Debt certs., ext., g •.. 4 - .... 100%-100¾ 100¾-100¾ 101¼-101¼ 99½- ~ .... Lake Shore, coU ... 3½ 88 - 90 86 - 88 86 - 88¾ 88¾- 89½ 8J>.4- 91 91½- 91¼ 90¾- 91 ½ 90½- t2l)4 92¾ - 93½ 91¾- 91~4 90 - 91¼ 90 - 91 Rea-istered ........ 3½ 86 - 87½ .... - .. . 86 - 86¾ 86¾- 88¾ .... - .. . . 89½- 91½ 89¾- 91½ 69¼- 90» 89!1,!- 89¾ 89 - 89¾ 89% · 90¼ 89¼- Oll Mich. Cent'l, coll .. 3½ tO - 90 88¾- 89J.t 89¼- 90 89)4 - 90}.{ 87 - 87½ 85¾- 87 87½- 88¾ 87¾- 90 89½- 90½ 90½- 91¾ 89¼ - E9:U 89¾- 90 Beech Cr' 1,, 1st, gu .. 4 10¼ -105 - .. . 108 -10.:j - ... 105%-105% . .. . - ........ - ... . 106¼-106~ 105¼-105,ti .... - . . ..... Realstered ...... .... . 4 . . .. - . . . 102 -102 .. .. - . ... .... - ... . •..• - . .. . .. • _ . . . . _ West !Shore, guar . . 4 106¾-109 108)4-109 107)4-108% 107~-108 10:%-109 1C8J4-109½ 107 -108½ 107~-10871, 108 -108¾ 109 -1G9¼ 109 -109~ 109½-llf.½ Registered ..... . ...... 4 106¾-108¾ 107 -108¾ 107 -107¼ 106~-107 107 -lO'i¾ 105½-107¾ 105%-107¾ 107 -107~ 107 -108½ 108~·1G9 108 -109 108 · 110 L.S.&M.s:, g., '97 .3¼ l CO -10~ 100 -100¾ 98 -100 98¼- 99½ 99¾-100¾ 90 - 99¾ 99¾-100½ 100:}fi-100'4 lOO½-lOOlh l C0¼-101¾ 101¼·102 100 -100¾ Reiristered .... . ... 3x .... - .... . ... - .... . ... - . . . . 98 - 98 .... - . . . . . .. - . ... . . . . - . . . . . . . . - . . . . ... - . .. 100¾ 100~ . .. - . . . . 99½ . 1-9½ Debenture, 19~8 .. 4 ... . - . . . 98¼- W½ 99 - 99¾ 99¾- 99¾ 99¾-100¾ 100%-101½ 101¾-102 99½-100 9 J\14-100¾ 100 -101 100¾-1011}.( Mich. Cent'l, 1909... 6 112¾-112¼ .... - . . . . 1~-109¾ . •.• 1931 .................... i> 122 -122 . ••• - .... l21 -121 . . . . - ... . 122¾· 122¼ - .... . . . - ... . ... - ........ - ... . 121¾-121¾ .... Rrahtered .. ....... ~ .... - .... . ... - ... 121 -121 1 fl.J.O ...... ........... . 4 ... - . . . . 105½-106¼ .... - .... 106¾-1061/4 .... 1st, sold, 19~2 .. 3x ... - .... 97 - 97 97 - 97,4 96¾- 96¾ . ... - . .. . . .• N, y. & North'n, J st.~ . . . . . ... 115½-115½ L13 -113 .... - •... . ... - . . . . .. . 115}fi-115½ ...• R. w .& o., con., 1st.~ .... - .... 117½-117½ 117311-117¾ 116!,i;-116½ 116½-115½ ll~-116¾ 117 -118 119 -119½ . ... - .. . ...•. - •. . 117¾-118 Utica & Bl,Riv.,'~Vl .. . . - . ... 10'\ -10! .... - ... . 104¾-104¾ . ... - ........ - •....... N • y • Cit. & St. L.-1st.4 lC•S . -104 1' 3!J4'-104 103¾-104~ 102¾-103½ 103¼-104 103¾-104½ 1043-9-105 lOi½-105½ 1053-9-106 10! -106 104 -104½ 103¾ -105 Rea-lstered ............ . 4 . . • • - • . • . • • • • - ••• . 101 -101 _ . •. . . . . . _ .N. Y.&N.Enir •• l ■t ... 7 ... , - .. .. .... - ....... - .... 101¾-101¾ .•.. - ........ - ......•. - .... . .•. - ... .. ... 102}(-102)4 .... - ... . 1st, 190~ . ............. .. 6 .... - . .. . .... - ... . .... - . . . . . .. - .... . ... - ........ - . . . ...· - ... 101% ·1011,i .... - ... . N. y • O. & W .,ret.,lst.4 101!,ji-102½ 102)4-103½ 100!,ji-101¾ 100¾-101¾ lOO!J.(-108½ 102¾-103½ 103 -104 103}4-104 102 -103¾ 103 -105 104½-105½ 104¾-105¾ N. Y. 8. & W.-See K1•le, 110 -110 110½-110½ 111 -111 110 -110 Norf. & So.-1st, '41..~ .... - ... . 111 -111½ lll¾-111¾ 112 -112½ . ... _ Norfolk & Western132¼ 182½132 -182 Jmpl. & Es:t., 1934 .. ti · .. ..•. 131¾-182½ 132 -132¾ 1S2¼-132¾.... New Riv,, 1st, 193~.6 . ... - ... 128¾-129 125~-127 . ... - ... . 132½-182\i 97 - 983,4 97%- 98~ 98~ ·100~ 100~-101!14 101¾ ·102 lOll':(-102¾ llO -101 lOOJ.<;-101!,:t 100~· 101% N.& W.Ry., l ■t,con.4 96¼- 97½ 97¾- 98 97¾- 99 99¾- 99¾ .... Reirlstered ........ .. 4 • •. . ... - .... 98¼ - 9-¼ Dlvis'nal, lat llen.4 • • • • 89!1498½ us - 94 Pocah, c. & C.jolnt.4 88 - 90¾ 87¾- 90¼ 88%- 90 93)4- 95 93¾- 94¼ 91¼- 95½ 95 - 97½ 94½- 06 90 - 91¾ 90¾- 92 - ... 112 -112 Col. C. & T., lst,"l2.~ · ... 99½-100!,:t 100 -101½ llQ¾-100 100¾-100¾ 101 -101¼ lvlji-102 102 -103 10.\!!}.{-103 101)4-10:.~ 101¾-10~ Sc. Val. & N. E., l•t.4 100 -100 99¼-100 Northern PacificPrior lien ............... 4 101½-103¾ 102 -103:u 102½-103➔.I 102¾-103¾ 103¾-104½ 10l~l05 tOS¾-105½ 104¾-l 05~ 104%-105~ 104¾-105½ 104¾-10c%j105 -108 Rt>,:istered ........... 4 .. - . .. . . . - ... . 101 -102½ 102 -102:){, 103 -103~ HS -104½ 103¾-10!~ 10! -101½ 103¼-lOl 102½-lOi¾ lOH:t-104¾ 103)4- l ! 4¾ General lien, 2047 .. 3 7()¾- 73 70¾- 72¼ 70¾- 72 71% - 73 7~ - 73 71¼- U ~ 74 - 7f>~ 74 - 74~ 74. - ;4~ 74¾- 75~ 74¼- 75¼ ~5 - 'i6 RelJistered .......... . 3 6 ¾- 69 70¾- 70¼ . . . · . .. 70½- 70½ 71)4- 'i2~ . . .• 75¾- 76J.t 73½- 74 ~ .. St. Pau 1 & Dul. Dlv.4 97~,- 9;~ · · · · Oi½- li7l<. . . . 100}4-100¼ 96¾- ll8¾ St. Paul & No. Pao .. ti .... - . . . 122),.(-122¼ . . .. 125 -125 St, P.& Dul., 2d, '1 '7.J 107¾-108¼ ... 107 -lO'i .... - ... 105½ 105½ 96½- u6x l8t, consoJ,, 196S.. 4 • • • • Wn.11h. Cent.Ry.,l11t.4 .... 00 - 90 90¼- II¼ - . .. . 85 - 85 .... No. Pac. Ter. Co-lst.. ti .... - ... 111 -113 112½-112½ .... - . . . . 113¾-113½ ....• 118 -119 ... 118 -118 118 -11~ 11 ½-118~ 110 -110 . . 112¼ -112!,t 115½-1J7>a 115¾(-ll5!,4 .... Ohio Riv., 1st, 1936 .. ~ •··· - ... 111 -113,i .... - .. . 111 -111 112 -112 Genera l, 1931 . ... . .. :i ••·· Or.RR. & IS av. i Ste I n. Or. !Oohort Line. 5 Pac. Pacific Con.st Co.-lsr .:} 106 -107 106¾-107¼ 105¼-lOS½ 108¼-109);,j 108'!:(-110 107 -107½ lOi¾-110 109!,i;-109½ l C9½-llOJ.1 lll¾-111¼ 112¾-112½ lll¾- 113¼ Pnnn.ma-l ■ t, 11. t ..... 4!,i •• • .. . - .. . 102¼-102½ . . . . Pennsylvania Co,1 st, consol ... ..... . .. . 4 ~ 108 -109 108½-10&~ 108 - 109 10$¼-109 l C'S~ -1091,4 109¼- 110¾ 108 -108½ 108½-106½ 109}.(-110 109¾ 110 ll 9}.f-lllx, 110%-112 Registered . ... . .... 4 ~ ... - •••. 106¾(- 108~ 10?¼-107).t 103 -108 105¾-!0J¼ Tr.Co.ctfs.,,:u.,'16.3J.I . ... 96 - 116 95~ - 115hi .. .. - ... .. ... - ... . 06¼- 06¼ 97½- 98 .•.• - . . . . 99 - 911¼ 09¼ - 9~¼ 97½- 9 !,:t 97½- 97¾ C.St,L.& P., lst.'3~.~ .... - .. . 118 -118 ll!:.% -118½ ... - . .. 120 -120 118 -118 Clev, & P., ser, D .. 3½ 9 6 - 96 Erie & Pitt,, ser.C.3 i, · . . . 9:i¾ - 98a}.i . ... P.C,C.&St.L.,Sr,A4~ 109¼-109¾ .... - .... 110 -110 108 -108 110½-llOJ.!, ••. 113 -113 Serie!! B., 194~ ... 4 ¼ 109¾-lll!-i; .••. - ... . 110 -110 .... - ... . llllj(-111¾ 112~-112¼ .... 11 0 -110 Se,ies C, 194~ 4½ ... - .. . •··· - . . 102 - 102 t!terles D, 1943 .. . . . .4 101¾-lOlx . . .. - . . 101X.-104½.... - . • • . 90 - 91~ 90¾- 90½ . . . . l"leries E, 1949 . . . . 3 J.t . ... 91 - 92 91¾- 91~- 93½ - 93~ . . . • 121 -121 P.Ft.W.&C.,~d,'l'l.1 ... 119 -119 3d, 101~ ............. . '7 . .. PennnJ lvanlo. RR.Real estate, l !J'l3 .... 4 105 -105 104¾-105½ 104½·107½ .... Consol., aroltf, l 019 .. 3 . . . lll½ -111).,. . . . Conv., arold, 191~ . . 3½ 95 - ll6¾ 94½- 97 94¾- 96¼ 06½- 97 9iM- 95½ 94M- 97 90~- 98~ 97¾- 99 09 -100½ 99~-103 100½ -103¾ 102),(-10::l¾ Registered ......... 3)<; .... 06¾- 96¾ .... G. H. & I., ht, ext.4J.t . . .. 110 -110 - .... 108.½;-108½ .... Phil. Bnlt. & Wnsh .4 .... LV7 -lO'i ¾ lOi !,i;-107% U.N.J.RR.&C .... .4 .... - ... 110¼-111 P.& E.-see C.C.C&S.L. Peo.& Pekin Un.-lst.ti 123½-123½ . ... - •... 120¼-121 .. .. - .. . 120½-120~ .... ~d, 11old, 1921 ....... 4½ .... - ... .. ... - . . . . 93 - 08 100 -101 Pere DlarqueueFlint & Per.e Mn.rq .. ti 118½-118½ . . .. - . .. . 11$¼-118¾ 118 -118 - .... 120 -120 120~-122 121¼-l.:&l¼ . .. . . .. 120¼-120½ 120¾-120¾ 121 ¾ -121¾ let cons., g., 1939.~ . ... - .. . lOi¾-lOd¼ .•.. - . . . 108 -110~ 109 -109 . .•• . .. - . .. . . . - ... . 111¼-lllJ.t . .. - .... 111 -111 111¼ lll½ Pt. Hur. Div., 1st .. ~ 109¾-109¼ 110¾-110½ . ••• - . ... . ... lh¼-112¼ 112~-112~ .••. - ... 1121,4-112¼ . ... ?.C.C.&St.L-See Pa.Co. Pith. 2'h. & L. E.,lst.:i .... - ....... - .... 115½-115½ ..•• . . • . - . . . . . ••• - . ... 114½-114½.... Plus. \ . & Ash.- ht .. :; . . .... - ... . 117!,i;-117½ .... - ... . 114¼-114¼ .... ReadlngGenern.l, 199'7 ...... .. 4 94%- 96¾ 95¾- 86:M 95~- 96;¼ 96~- 98½ 98}4 99¾ 99¼-101 98¾- 99)4 9$¼-100 99¼-100¾ lOQ¾-102 101¾-102% 101¼ -103;._ RPlll!ltered .... ... . .. . 4 ... . .... - ... . .... - . .. . ... - . .. . 98 - 98 99 - 99 99 -100 99½- 99½ 99,4- 99~ 100 -100 .... J e1•1,1ey Cent. <'oil at .. 4 91¾- 93¼ 98)4- 93~ 98).6- 94).4 92 - 93 93 - 03¾ 93¾ • 95 95 - 96 95¾- 96 95¼- 97~ 9~¾- 97% 96 - 96),a 98 - 99 Phil,&. ,. e,1.tl,, cone '7 . . lW¾-119!-<i 119)4-119¾ . . .. - ... . . . .. - ...... .. - . .. . ... - . .. . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 80 RAILROAD BONDS. 190,1-<:;ontinued. f BONDS. _ _ _ _ _ _ _ _ _ _• JUNE. JULY. J ANO.ARY FEBR' RY. MARCH. _ ,___ - - - ,_____ - - -1- MAY. - - - - - - - - - - -APRIL. - AUGUST. SEPT'BER. OCTOBER. NOV'BER DEO'BER. L_o_w_.H_lg_h Low.High Low.Hlirb Low . Hll?b Low . Hlirh Low :Hlgh Low.High Low.High Low.lligh Low.Hiirh Low.High Low.Hlith 1 Rieb. & Danv.-See ~o. . ••. 110½-110'½ 110¾-lll½ .... - .... .... :Rio Gr. Jc.-l111t, '39 . . ~ .... - ........ - ... . . . .. - ... R. G. W.-See D.& R.G. Rio Grande South'n- •••. 68- 68 .... - . . .. 63½- 63½ . . . • lst, 1940 .... . . .. ...... 4 - •... 75 - 76 - . . . . 87¼- Si ½ . . . . Guaranteed, 1940 .. 4 ...• R.W.&O.-SuN. Y.C. - .... 103¾-104 Rntla,, d-lat, cons .4½ .... 9,i - 95 - •• •. 84- &1, &I,½- 84c½ 91'4- W 87½- 92 . • • • - • . . . 91 - 93 ·St. J. & G.I.-lllt,'4-'7.4 .... St.L.&I.M.-SeeM.Pa<". St.L. & San Fran.Ry.Class B, 1906... ....... ti 104¾-104% 105 -105 .... - ....... . - .... 103¼-103¼ 1(13¼ -103¼ ... - ••• . .. • - ........ - .... 106½-106½ . ... - •... 104 -10! • .. .. .. . - ........ - ........ - ........ - .... . ... - . . .. - •.• . 103½-103¼ 103½-103% . . • Cla ■ s C, 1906 .... , ... ti . ... General, 1931 ....... . ti 123 -124½ 124½-124¼ 122¾-122!14 •••• - . ... 125 -125 126 -127 . .. . • •. . . 1253-(-125½ 12,3 -126 . ... - . .. . 128 -128 129 -180¾ 111½-lll½ 1119,!-113 112½ -112½ 113¼·114 114¼-114¾ ll()¾-111 -ll2½ 112 General, 1931 ........ c') 110 -111 110 -110~ 110½-110'4 111 -112 lllJ.(-112¼ 96½- 96½ .. . . - .. .. 9 ½- 98½ 99¼- g9¾ . ... 06~- 911¼ . .. . - . . . . 96 - 9B 06 - 96 RR. consol. ll,, 1996.4 86¾- 90~ 89 - 91 86 - 87 SOM- 82" 1~- 85½ 84¾ - 87 79½- 83½ 80 - 82½ 82 - 837-! 81¾- 82¾ 81¾- 83 Refundlnar. 19~1 ..... 4 82¾- &I, 9¼-98½ 96 -96 W -94 - .... 94 - 94 ~-year a old note■ . 4~ .... 98¾- PS¾ ••• - •.•• S. W. Dlv., 1947 .... ~ 100 -100 - .... 123~-126Xi .•.. - .... - ••. 122~ -122½ .... K.C.F.S.&M.,con.6 . .. . - .. .. 119~-119¼ .... &I, 86 85¼t-'5:k\ 84c!,,(85¼ 81 81¼ 79 89 86½- 90 80¾ 85¾79½86¼ 80½ 78!,480¼ 78½Sv½ 70 80¾ Ii.. C. Ft.S.& M., reU 78 .,Relllatered ........... 4 77¼- 78½ ·St. Louis Southw'n97%- 98½ 92!1:(- fl4½ 94¾- 96~ 9,i - 95~ 91),g- 95 92¾- 94 97 - 98¾ 98½-100¼ 97¼- 98 95~- 96¾ 96½- 97 l ■ t, 1989 ... .... . ....... . 4 92;,(- 94 2d Inc., 19S9 ......... . 4 72½- 76½ 74 - 76 76 - 78¼ 77 - 78 70¼- 77½ 71 - 74 73 - 76 11 - 82½ 82¾- 83 82½ - 85 s2 - e5~ e5 - 85¾ 70 65½74% 67),g74¾ 72 79¾- 81¾ 72¾ 83 70¾79~73¾ 81 70 79¾74% 80 71~ · 79~ 78 68¾- 72 Censol., arold, 1932 .. 4 70 <St.P. & Dul.-SeeN.Pac. ·8t. P. Minn. & Man. 110¼-110¼ llOJ.! 111 111%-112 109¼ ·109¾ 110 -ll()¾ll()M-llOM - ... . 110¼-110½ . .. - . . . 107¾- l ~ 109 -109 2d mort., 1909 ....... 6 lat, consol., 1933 .. . 6 130 -131 13~131 131 -132 . .. . - . . . .. .. - .... 132 -132 132¼-132,4 133¼-1331}.f 13,i -13!~ 134%-13!~ . . .. - . .. . . • - ... . Reduced to ......... 4½ 107¾-108% 107½-107½ 107¾-107¾ 108!,,(-108¾ 109 -109 110 -110 l03%-lU5¾ . . . . - .. . . . .. . - .... lll¾-112¾ lllll(-111'½ . .. - . .. . - .. . 111 -111½ 111'4-lll:J,i .... - . . . . .. . - .. 1113,(-111;,( - . ... 110¼-111 lll½-111½ 109¼-109½ ... Dakota Extenalon .... 6 . . . . - •. . 103 -103 103;,(-101 103¼-103½103¾-10,i 104 -104½ 103 -103¼ lUent.Ext.,ht,193'7.4 100 -101!-fi 101 -101¼ 101 -101½ 101~-101~ 102 -103 - .... 104¼-104½ ...• - ... 10~-102¾ . . - ... . ... _ .. .. E. M. l ■ t dh·., lat .... ll ... . - . . . . 133 -135¾ . . . • Ment.Cen.,lat,1937.6 ... . • . . 134'4'-134'! Reiri ■ tered .... ...... . 6 ... . - ••.. 116!14-116¾... - .... 114-½-114~ ..••. lat, aruar., 1937 .... ~ ... . WUl. & S. F'., bt ... ~ 117 -117 ·S. A. &A.P.-See~. Pac. .... .... ·•• · ,San Fe Pr. & P.-t ■ t . .:. 110 -110 •S. F. &W.-SeeA.. C. L. 81M- 83¼ so - 81¾ 81¾- 85~ 83¼- e5 82½ 70~69 - 70 68 - 69¼. 69 - 70¾ 69 - 70 ·Seaboard Air Line ... . 4 65 - 70¾ 65%- 68M 69 - 70 97¾-10,) 100 -102½ 102¾-103 1027,,~-lOi 101¼-102~ 102 -1033,( 97 - 98 Coll at. trust, l.911 .. ~ 96 - 98½ W¼- 97 97 - 97¼ 98 - 99½ 96¼- 97 . . . - . . . . . • • - •... 104!J4-104¾ . . . - . . . . . . . . - . . . • • . - . . . . .. • - .. .Fla. C. & Pen., '43 . . ~ .... _ . . . . . . • . •Ga. & Ala., l11t, con.~ 102 -102½ •.. - . . .. 102¼·103¼ lOZU-101~ 104"-105½ 105¼-105~ 104 -105 lOi¼-105¼108¼·108!14109¾-109:,lt 112 -112½ . ... - ... . 109 -109 .••• - •••• llQM-11~ .. .. - ........ - .... 108 · lf8 •.. . 105½-105¼ ...• -Ga.Car.& N.,lat.aru.5 ... . 92½- 93 . . • . - . . . . 91 - 92¼ . . • • - • • . . . . . - . . . 98 - 98 . . .. Carolina Cent,, con.4 .... - • .. . . . • . - .. . . . . .. - • • . . 92),,(- 92~ 93 - 98 ·s.c. & Ga.-See South'n Southern Paclftc Co.2•1}-year, 1901} .. .. .4~ 97¼- 99¾ 9~- 991,4 99 -100 100 -101¼ 101 -101¾ 99¼-100% l00~-100~ 100¼ 101½ 101¾-101%101~-102~ 102,¼-1C2½ 100 -100-U 93½- 94¼ 93¾- 94~ W¾- 96x gs - 115 90M- 92¼ 89'4- 93½ 93¾- 81½ 93¾- 95 87½- 89½ 88 - 89½ 69¼- 91 Collat. trust, 1949 .. 4 87¾- 90 W½- 94½ . .. - ........ - .....•. - .. . Rearlstered . ......... 4 85"- 871¼ -110 113}:( 113~ ... - ..• llQM-110~ 109 •... . . ...... ••• .. ... 100,4-102 98 98 97 97 Austin & N. W., l11t.~ 99¼-101 100 -100¼ lOOM-101¼ 99~ -lCO¼ 100 -100!..( 100*102¼ 101¼-102 101~-lOL¾ \19 -100 Ven. Pac., lat, ref,a- 4 99¾-101¾ 97½- ~ 97~- 9J Mort., aru., 6',.'29.3½ 84 - 85½ 84 - 85¼ &l,7-(- Si¾ 84¼- 85½ 85~- 86% 85 - 88 87¾- 88 87¼- 88% 87'-'- 88½ 88½- 88~ 88½- 89 Sil>(- 69}( - ... 10.i½-109~ . .•. 107 -107 11()¼-llU½ .G.H.& S.A.,tat,'10.ti - . . .. 103 -103 2d, 1rold, 1901} .... . 1 100.l-9-100½ 102 -lCl'.& ... - ... . 103!M-103~ .... 112½-112¼ -113 110 112¼-112¼ -113½ ll2 . ... .... •••. ... . -107 107 ... . -109 M. & P. Div,, lst .. :i 107 -lu7 .... - •.. . 105%-105:)j 109 110 -110 •Gila Val. G.&N.,lst.~ 105 -105>f! 105¾-105~ . .• . - .. lOS -108 106 -106 105 -105 1C6 -106 107 -107 .... - .... 108½-110¾ .. . lM¾-104¼ - .... 106¼-107¼ .... - .... 103½-103xi . ... ,H,E.&W.Texo, lat. . - ... . 111 -111½ 112¾-112¼ 118 -113~ 112½-118¼ 'Hou11.& Tex.C., lot.I} 110 -111½ 111 -112 111 -111¼ 112 -112 - •.. 113 -113 ConHl., ar,, 1912 .. . 6 112 -112 .... - ... 112¾-113 . .. . - .... 118 -113 112 -112 112 -112 112¾-112¾ 113 -113 ..•• 93½- 93½ 92 - 93 .... - .... 94 - 9! .... - . .. 96 - 96 .•.. - ..•. 95¼- 95n 95 - 95 92 - 92~ 93 - 93 General, ll•• 1921 . .4 00½- 92 - ... 129¼-129~ .. 180 -180½ 130 -130 .lflora. La. & T., lst.1 ... - •... 122 -122x 122 -122 - ... . . .. - ... . 121 -121 .•.. l ■t, 1920 .... . ....... . 6 .... - . . 10(3¾·1 ~ 106¼-106¾ lOdM-107 104c¾-l04¾ . . - .... 105 -106 No. of Cal., lat, gu ... 6 - .... 102 -102 ... . - . . . . . ... 'Or.&C.,lst,an.,•2,-.~ 100 -100 .... 88 - 90½ 87½- 90% 88 - 90 80 - 82½ 81¼- 87¼ 83¾- 85~ 82½- 85¼ 8:i¾- 88 78¾- 80 ~an An. & Ar. Po.H.4 76 - 80¾ 78 - 80~ 78 - 79 • •.. 110½-110½ . .. - ........ - .... !OB -lOi¼ 109¾-109¾ .•. - .... ...• •So.Pac.,Arlz.1909... ti 105 -105¾ . .• • - .... lOcl¾-100½ 107 -107 108 -108 ht, 191U ............ 6 100 -lOB .••• - •.•. 107½-107½ 108,¼-10~ .... - .... 103%-108¾ 105~-105¾ 107 -107~ 110¼-llO)a ll()¾-110¾ ... . - .. . 111½-111¼ - . 100¾-100~ .... - ........ - .. . . 101½-101½ 102 -102 :So. Pac. Cal., 190:J .. 6 ... - . ••. 104}4-104¾ .••• - ... . . ..• - ••.. 104½-10!½ 102 -102 lat, 1906, C. & D .. 6 .... .... . ... - ... . - ... 112¼-113 .... 1153-(-115¼ .... l ■ t, 190~, E & F .... ti ...• - •... 114½-114½ 114¼·114½ . ... ht, 191'.l .............. ti .... 1st, consol., 193'7 . . ~ .... - ... . 119 -119 ... . Stn.mp., 190:i-3'7.~ 107 -107 ...• - .... 109 -109½ 109¾-110 107¼-107~ 107M-109 109 -109!,4 109 -1C9 109 -110 110 -110¼ 107½-107½ 107M-1071J,( - .... 108 -108 ... . -S. Pac., N.Mex,, 1 at.ti .... - .... 108"-10~ 108 -108 .... - . . . . 103 -103 .... Tex.&N. O., lat,'0~.1 .... - ... 101 -101 .... . ... 109 -109 Sabine Div., lat ... . fi .... Consol., arold,1943.ti 103 -103 '8outhernht, consol., 1994 .... ~ llllo(-114 111 -113~ 111¼-113¾ 113 -115¾ 115½-116~ 115¾-118 114 -115½ 114¼-117% 117 -117½ 117}4-118¾ 118 -120 119 -121 Re1rletered . .......... ll .•.• - •... 108 -110 ••.. ll6 - 9~ 96¾- 97¼ 95½- 96 91¼- 95½ 96¼- 97¼ 94¼- 95 92¾- 95 93 - W 93 - 91 95 - 95~ 93 - 93 lU. & o. col. tr., '38.4 93 - 95 - .... 114 -114 .... - .......• - •••. 115½-115½ .... - .... 117}-4-117¼ lUemp. Div,. l ■ t.4~-~ ... 99 -100}4 119 - 99 \17¾- 99 97 - 98 95½- 97 115 - 97 94 - 98 93¾- 9!¾ 03!J:(- 95 ·St. Lonls Div., ht ... 4 94 - 94½ 9! - 95 93;.- W . .. - •.•. 118½-118~ .... - ... . - ........ - ... . 115 -117½ ...• .Aln. Cent., 1st ........ ti .... - .... 94¾- 95¾ 94c½- 114½ 96¼- 96½ 96¼- 97 96¼- 97¼ - .... 95 - 96¾ .Atl. & Dan., l ■ t,'48.<I .... - .... 91"- 92 91%- 91¾ ...• 89¼- 90½ 90 - 90 ~d, 1948 ............ :.4 .... - ........ - .... 118 -118 ..•. - ... ,c .. 1. & Greenv., lat.ti .... - ....... . - ... . .. . 116¼-111% - .... 116 -116½ . . . • - .... 113¾-115 E.T. Va.& Ga., Dlv.. li 1133-(-113!,4 .•.• - .... 113 -113 113~-113½ .... Conaol., ht, 1r........ ~ 117½·118~ 117¼-118¾ 118 -118½ 118}4-119¼ 117 -118½ 118 -118¼ 118),,(-119 119 -120 120 -121 120!J;j-121¾ 119!>:l-121 121 -121 - . . 111~-llll,4 11~-lll!¾ . . . . - . ... E. Tenn. reorg. llen .. ~ .... - .... 110½-110¾ ... . - ... . 109 -109 111¾-lllll:( 112 -112 11~ -112 .... 123 -123 .... - . .. 122¼-122¼ ... - .... 122,4·122¼ 12l!lt-12! 125_¾-125¼ ·Go. Pac., 1st, arold ... 6 118¾-lIB¾ .•.. - •.•. 122 -122 - .... 124¾-124:J4 -125 125 . ... -122 122 .... 121¾-124 .... .••• Knox. & o., lat, ar ... ti 120 -120 116 -116 116¼-116½117,4-118 .... Rlcb.&Dan.,con.,ir.6 .... - ....... . - ... . 114 -115 115 -115 116 -116 116 -116¾ .... - ••.. lll~-111!,( - ... . 112¼-112½ ... - ... 112 -112¾ . ... Deben., ■ tamped .... ~ ... - ....... 87 - 8,½ . •• lllch. & Meck., l ■ t .. 4 .... - ........ - .... 107%-107¾ 109 -110¼ 107!,(-108 .•.• -~o. Car. & Ga., 1st .. ~ 103½-103!'4 10~-104½ 104½-105¼ 106 -106 104}:(-104¾ 105 -10~ . . "Va. Mid., ■er. A.' 11.ti .... - ........ - . . . 103 -103 - .... . ... - .. .. 109 -109 .... - •.•. 110 -110 -110 110 .. .. ....... . . ... .... ... . .... ........ .... Serie ■ D, 19"1 ... 4 ti General, 1936 ...... li 110 -111 111¼-112 110➔.f - llO!J;j 112 -113 .... - ..•. 112 -118!14 .••• - • .•. 112~-116 113*116 117 -117 •.•. - .... 116 -116 Stamped, aruar .... :i .... - .... . .. - .. . . 110¾-ll0:J4 112¼-112¼ 110½-110¼ . ... 117 -11~ . 116~-117 114 -115 .. .. - .... lll».(-115~ W ~. ,- ,.,.. 1 .. r.con fi ll:lM-114¼ 112¾-ll:l l t3 -113 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis - ........ - ........ - ........ ········ ········ , - .... ... - - RAILROAD AND MISCELLANEOUS BONDS. 81 1904-C:ontinued. BON DS. -----------Stat. lal'd Ry.-l•t .. 4½ Term•l A.sa'n ot ~t. L,tu, 1930 . .. .... . .. . 4'\ot 1st, consol., 1944 ... . ~ Gen . ref., 1 P03 ... .4-~ St. L. Mer. B'ge Ter.~ Tex. & N. o.-Su So. P. 'l'exn.s & Pnclfl clst, E. D., 190~ ...... 6 JANUARY FEBR'RY. \ MARCH. g old. MAY. JUNE. JULY. AUGUST. SEPT'BER. OCTOBER. Nov'BER DEC 1Bl!JR. Low.Hbrh Low. Hilrh Low.Hi,:rh Low.Bbrh Low.Hii;rh Low.Hl,:rh Low.High Low.High Low.High Low. Hi~h Low. Hi,:rb Low.High - ... 100 -100 .... - ........ - ... . ... - . 115¼-115¼ 1121,4-113 - . .. 110 -110 - . . . . 1141,ji-114½ 115 -115 .. . .... - ........ - .... 110 -110 .... - ~.woo ........ o 115½-116¾ 115 -116¼ 'Id, ,i., Inc., !lOOO ..... O 92¼- 98 85 - llO La. Div. B. L., 1st ... 5 108 -110~ 108 -108 W.M.W.&:N.W.lst.~ ... . - . .. . 101 -106½ Toledo & Ohio Cent' 1ht, 193~ ....... ... ..... 0 112),(-112½ .... - .. t ■ t, APR L. 116)4-116,a .... - . .. 117¼-117~ 118 -118¾ ... 98 - 98½ 98),(-100¼ 100 -100½ 100)4-100½ 100¼-100½ lOQ¾-101¼ - ... 112¼-112¼ . .. • - .. .. . . . . - ... . .. . - .... 102 -102 - . . . 100 -100 101¼-101~ lOl¾-101¼ 115¼-117 llfJ¾-118¼ 118!,a-118!}.( 116¾-119 117,¼-lW 118 -119),fi 119½-120¾ 120 -122 l2U¾-122 119),(-121¼ 90 - 90 85 - 89 85 - 85 80 - 82 .... 81 - 81 88 - 93 92 - 93¾ 93¼- 98 95 - 97 .... - ........ 108 -109 - .... 109½-109Xi .... 106½-106½ ..•. • . . . 105¾-105¾ 105)4-106½ . ... - .•.. 113 -118 114 -lH . ... - .... 11,i!ij-115 .. .. - - .... 115¼-115¼ West. Div., 1st, '30.5 - . ... 111 -111 103½-103½ 107 -107!1-4107 -107 .... General, gold, 193~.5 105!ij-105¾ .... - .... 105 -106 Kan.& ll'I.,l11t, gu,,g.4 91½- 92 93½- 94½ 96 - 96 . . . • - . . . 96 - 96 . . . . 91¾- 9 ?X1 ~2 - 92 02½- 93 96 - 96¼ 91 - 91 Toi. Peo, & W.-lst . . . 4 87 - 88 87¾- 88 90 - 90 . . . . 90 - 90¼ 1'0 - 92 93 - 95 89¾- 91½ 92 - 92 93 - 93 86 - R6 8t1}4- 00 Toi. St. L. & West. .. 3½ 81 - 83½ Si - Sj 84 - 84¼ 85 - 87 87 - 90½ 89~- 9J~ 90 - 90½ 00 - llO¼ 84 - 85 81½- 83 84¾ · 85¾ f-3 - 84' 50- yeo.r, a-., 19!l5 ... 4 71 - 721}.f 69 - 71~ 69}2- 70 71 - 78½ 72½- 77% 77¼- 82½ 78}4 · 82 ~ 80¾- 8!i 69~- 70½ 69¾- 71 82½- & 68 - 70 Tor. Hn1n. & H.-lst. 4 . ... - ........ - ....... . 94 - 95¼ .... - . Ulste1· & Delawarelst, consol. . . .. ....... . O 106¼-106¼ 106¼-106½ ... - ... 108 -109 109:½J-109~ 110¼-112 112 -118 110 -111½ ... - . .. 111¼-112½ 112¼-113 lll -111 l ■ t, retund., HM~ ... 11 .... - . .. . .... - ... ... . .... - .... .... - ... . 91¾- 92 92¾- 93 94¾· 9434 98 - li3X? . .. . - .... 94i)r 94~ Union Po.clfic50-yr., iiold, 194'7 .... 4 lOOll,!-103¾ 102½-103¼ 102%-108¼ 108¼-104¾ lWJ.4-105~ lO!i!l,(-106 103¼-105¾ 105 -105!1,1104,¼-1051H, lO!i!}.(-105½ 105 -106½ 105'-(-107¼ Rearistered . . .. ...... . 4 100¾-108½ 102:)f,-102¾ 102¼ ·104 ... . 102:½J-104 .... - . . . 103¼-lW½ .. .. - .. . l02~-104~ htllen, conv., 1911 .4 95}.(- 98},! 94,¼- 97J.,, 91¼- 98:J:f 0:!½-100¼ 96¾- 97!J;s 96¾ 100 99¾-103½ lOlJ.!,-105¼ 103¾-107 106¼-114~ 108),(-116x 106¾-116 Reiiistered .... ...... .4 96¾- 96~ .... - .... .. . - .... . . . . - .. .. 9tl¾- 98¾ . ... - ........ - . .. 105¼-1Ci5 x no -110 10ll%-115¼ .... - ... . Or. RR. & :No.v.,con.4 98¾ 100¾ 98½-100¾ 09 -101¾ 101¼-101!1,.; 102 -102¼ H·0,¼-102½ 101¾-102¼ 101¾-102).t l02!,;'-108 103 -10~¾103J1i ·lW¼ 102 -102¼ Or. Short Line, 1st .. 6 123¾-124 120'A-122 12U¾-122 l21¾-122 122¾-122¾ 124¼ 124!,t 125¼-125½ 121 -1:22 122},ji-124 124 -125 125 -12 ix,. t~l'.i¾-127 Or. S. Llne,lst, cons.O 111 -113}.! 113 -113½ 112¼-113~ 114);{-115 lH¾-11~ ll6¾-117 114¾-115 11414-117¼ 116¾-117½ 117~-ll~ 118 -12~ 119 -121¾ 4s & pa.-tlclpo.tlnar .. 91¾- 96¾ 90¾- 93 90'J1i- 95¾ 9!¼- 95~ W¾- 95 ll~· 97¾ 97 - l!S}.! 95¼- 97 96¾- 99¾ 98¼-lW¼ 103¾-104'¼ 10~-10!~ Reiiistered ....... . . 4 . . .. - ... . .... 95¼- 95¼ . ... - . .. . - . .. . 103',(-103M Otfs. for rerund.... . 4 . ... - .... .. . 96¾- 97¾ Va. Mid.-See t;outhern. - . . . 108½-103½ 108½-104 103!}.(-lW¼ 102½-102¼ 108 -108 106 -lOil Va. & S. W,-lst, a-u .. 5 100~-103¼ lOi -104 - ... . 107 -107 llO -110 Wabasbl ■ t, iiold, 1939 ...... .. 5 114¼-116 115¼-116 115½-116¼ 116:½J-118 114¾-115~ 115),(-117½ 117),(-118¼ 117),(-118 117¾-118¼ 118 -119 117 -118 117 -119),( 2d mo1•t,,1rold, 1939.a 106!1,(-109½ 106¼-107 108¼-107 108 -1U8½ 108 -1U9 109 -100:J4 1()9¾-110 107¼-108 108 -109 109½-110½ 110 -111 110¼-111¼ Deben.lnc., 1 U39, A.ti ... . • ... - . .. . 94 - l.l!i 95 - 95 . .. . Deb. inc .. 1939, B .... ti 61 - 68 68¾· 66¼ 57 - 62¼ 60M- 68¾ 6~~- 61~ 5d - 61,d 57 - 60½ 58 - 63 62¾- 66½ 64¾- 6S~ 64.¾- 70~ 65 - 69!,4 il.st lien t>quipment .. 5 102 -102 - .. . . ..•. D,&Ch.Ex1., 1940~ 106!,4-107 .. .. - .... 107 -107 108½-108½ . ... - •.. llO}!i-110½ .... - .•. 109~-110 110¼-112 111¼-112¾ 112 -112 Des Moines Div. lst.4 . ... - . . llO - 90 96¼- ll7 ... . ... - .... ... . Omaha Div,, 1941.3.x? 80½- 81¾ 71l¾- 79~ 81"- 81¾ 81¾- 81¾ 81),(- 81¼ 83 - 83 82¼- 83¼ 83%- 831k . ... - •.. 85 - SB P5 - 9!i 9 ¾ 99 Toi. & Chtc. Div • . 4 - •....•.• - .. •· 85¾- 87 84, - 88 S i l,(- 89 88½- 91 We ■ t. Mo.ryland-lst.4 West. :N. \'. & Po..I - .... 116¼-116,s 117%-117!!4117½-117~ 118½ 118).\ ll9¾-119'i - ... . 115¾-116 l•t, 1937 . ..... ........ 5 - ... 115 -115¼ 93 - 93~ .... - .. . . 96 - 96 96 - llO¾.... - . . . . 95}4- Iii>>: 96¾- ~ General, 1943 ..... .. 4 .... W. No. Co.r.-See So. Ry. W. Va. (.~en,. & Pl us.112 -112 1st, 1911 ........ ..... . .6 Wheel'ar & Lake Ertel s1, l 926 .. ............ 5 112¼-114 112 -113~ . ... tJ.2¾-112~ 114 -114 109¼-112 Wheel. Div., 1st .... ~ ... . - ... . .... - .. . . . .. - .... 110),(-ll0)i ... Ext & Jmpt,, 1930. 5 ... - .... . ... - ... . lOJ -103 . ... - ... . . .. ~0-yr. equip., 19~~.. ~ . .. . - .. . .... .... - . ... 102:Ji-108 100 -100!,4 100½-100~ - .. . l02¼-102¼ ht con., 1949. . .. .4 88¼- 91 88~- 90½ 86 - 89¾ 87~- 89¾ 89)4- llO 81:l,v- Ul¾ !'10,¼- 92 91 - 91½ t9,¼- 90¾ !:JO¾- 91¼ 91 - 1,3¾ 98 - 9i Wisconsin Cent'l Co.50-yr. J ■ t, ii .. 1949 .. 4 88¼- llO 69 - 90 89 - BJ¾ 89¼ - 90½ 90 - 1,0¾ 90 - 91¼ !:9 - llO 89¼- 90 89¼- 91 001r 93 91¼- 93),,, 92 - 98 STREET RAILWAY. B' klyn lto.pld Trans.Gold, 1U4:i ..... . . .... fi ht, conv., llOO~ . .... 4 B'klyn Clty,lst, con.~ B,Q.C. & S,, con. gu.5 B'klyn Un. El.,l8t.4•5 Klniis Co. Elev., lst .4 No.Hau Elec., .roar .. 4 -Conn.Ry.& Lt.-lst.4).\ Metropol. Street Ry.General.. ... . .......... 5 Refundinar, 200~ .... . 4 B'y & 1th Av.,1943.~ Col. & 9th Av., 1st .. 5 Lex. Av. & Po.v. F .. ~ 3dAv.,ht,au.,2000.4 lst,1937 .. ..... . ..... .~ Met. W. S. EI. (Ch.) .. .4 Mtnn. l!lt.-l8t consol .. 5 St. P. C. Cable - l'on• .. ~ Underar'nd El. Rn. of London profllt-sh'a-. . 5 U nited Rys.,St.Louis.4 (Jolted RRs., So.n .ll'r.. 4 GAS AND ELECTRIC, Brooklyn U. Gas-1st~ Buffalo Go.s-l8t. .... ... ~ Consol. Go. ■ (N. Y.)Conv deb.1909 ...... 6 Det. City GD.8, 1923 ... 5 Gen. ~lec.- Deb., g ... ;J~ Bud. Co.Gns-lBt,'49.5 K. C. (.ll'lo,) Gae- ht.. -~ K iniis Co.EI.L.&PowPurcho.ae money. ti Ed. El. Ill. (B'klyn).4 Laclede Go.s,St.Louia1 "' • Pold ...... !\ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 101 -102 100 -lLO 100 -102 73 - 75 107%-107¾ 108¼-108~ 108¼-1(!8½ 100 -100 ... . LOO -100 100¾-103¾ 100 -101 100¼-102¾ 86 - 87½ 82 - 85 83 - 85 .. .. - . ... - .. . ... - ........ - . . . . 90 - 92Xi .... - ... . ... - . .. 118¼-115½ 112½-118~ 89½- 92¼ 90 - 9lx, 112¾-113½ 118 -113¼ 119 -119 118¼-118¼ 116)4-116)>4 ... . - ... 94¼- 95¼ 9i¼- 95 117 -117 116¾-116~ 95 - 115 94 - 95 93¾-102½ 102 -102½ 102~-1C6x 105 -106¼ 72¼- 77¾ 76¾- 77¼ 76¼- so 77¾- 78¾ 108¼-10S¾ . ... - .... 108!1:(-109 - . .. ... - . .. 101½-102¾ 102¼ 101~ 104:½J-107 107 -108¾ 85 - 86¼ 85 - So¼ 86¾- 90.x 110 - 91 79]4- 30.x? 7if¼- 81 60~- 85 82¼- 83¼ 90 - 91 92 - 94 94½- 97X1 96¼- ll7 113 -114 112¼-118½ 90 91½ 89 - 90½ 113 -114 115 -115 115½-115½ . . . - ... . lU -lH ..•. - .. . . 9-l½i- 95 94¼- 94½ 116 -117 118 -118 . ... - 112½-118¼ 90 - 90X? . .. - . .. 116¼-116¾ 115 -l15Xi 91 - 94¾ 119 -119¼ 112½-114 89~- IIU'l,,, 113 -115 . .. . - ... ... . - . . . 91¾- 9il 121 -121 Oi - 114 .... .... - 112M-114 114' -116¾ 90 - 91¾ 115)8-116 117½-118¼ . - . . .. 93¾· 94¾ 114¼-116 115 -116¾ 116 -11811117¾-118¼ 117¾-118¼ 91 - ll2~ 91¼- 92½ 90¾- 112 91!,(- ll2 li t ¼- 1'3l,1i .... - .. . . t16½-116½ . ... - ... 117 -ll'i 116!}.(-117¼ llS¾-118¾ .... - . . . 117 -117 118 -118½ 120 -120 117:14-117~ 115¼-115~. ... . - .... .... - ...... . . - .. .• 9! - 96!,i, 96,1,s- 0 ,!)a 96¼- 97 9~- 98 97¼- 98 - _. .. 118½-118~117¼-117x . ... - ... . . .. - 110 -110 .... - - .. . 106¼-lOtl½ ..• . - .... .... 75!,fi- 80 105 -108¼ 1013 · 108¾ 10:l%-107.x 107}4 106 107¼-109],( 78 - sz~ 79¾- 82 80¾- 85 83¾- 85% 88¾- 85;1,! 109½-110 107½-108½ 108:J.;!-lOJ¼ 109¼-109-. 102 -103 101 ... -lOJ 106 -105½ 105¾-105],( 106 -10.:-¼ 107)4-108 107¾-108~ lOJ -lll 109¼-110¼ 88½- 9l>a 90¾- 91 91 - 93 92 - 93 92 - 98 8~¼- 88 86¼- 89 87½- 89¼ 88¼- 90 88 - 89Xi 97 - 98 117½- 98½ .. . - . . . 99 - 99),4100¾-100¾ 79 - 79¼ 78¾- 80 113 -114 .. . . - ... . 65 - 65 81 - 81 77:½J- 78 90¾- 99'½ 97 - 99¼ 80¼- 80½ SO;.{- 80¾ . . . . 79¼- 80 81~- 82X? 86¼- 86,-_ 85 - 8~½ 67¼- 89 n - 79¼ 78.½i- 80~ SO¼- 831}.f 84 - 84½ St¼- ss s2:i4- 85¾ 84%- 8n~ 87¼- t- s 118)4-114½ 118¼-115]4 112)4-113 ~ 112½ 115¼ 115),(-115¼ 11~ ·115~ 115½-116½ 116¼-ll'i ¾ lH¼-lF~~ 116¼-117 - •.• . .•. - ... . 63 - 68x, 54 - 6t> tO - 60 6a - 70 70 - rn),4 68 - 70 6J - tl9 .... 96 - 96l',t 96 - 97¼ 97 - 97¾ 97¾- 98 96¾- 97½ 88¾- 88¾ 88 - 83 . .. - . .. . 88 - 88 10:l -105 104¾-105½ 104¾~10!:J4 . •. . - .... 103¼-10331, . ... - ........ 117¾-117¼ 119 -119 171%-173¾ 9:5¾- 96¾ 9 1,¼- 90¼ - .... 172¾-178 178 96¼- 96½ 97 .. . . - .• ..... . 105),(-105)4 . .•. -18::s 186½-19!~ 186 -188¼ 174 -187 - 9j 98~-l(!O 9;}¾- {)9>.t 100½-101 91¼- 91¼ ... . - . ... - .... 109 - 109 - ... . l07)4-108~ - ... . 100 -100 - . . . 120 -120~ . ... - .... 120),(-122¾ ... . - ... 12! -125 98¾- 93¾ 114~- Ui~ . .. • - . . . . . . . . - . . . . 98¼- U4½ :l6 - 96'A . • .. - 119 -119 119 -119 105~-107 106¾-108!4 l06¾-107¾ 107%-107¾ lOi~-108¼ t07l}!-10 ¼ 108~ lcr.l¼109-o-110~ 108 -109 108½-10{% ... 106 -106':( 105 -106 171%-172 97 - 97 88 - 90 104¾-105 82 RAILROAD AND MISCELLANEOUS BO DS. 190<1-Concluded. BONDS. ----------- J.ANC-.ARY FEBR'RY. MARCH. APRIL. MAY. JUNE. JULY. AUGUST. SEPT'BER. OCTOBER . NOV'BER. DEC'BER. Low.High Low.High Low.High Low.Hillh Low.Hillh Low.Eilgh Low.High Low.Hig-h Low.High Low.High Low.Hillh Low.High - -- - - - - - - - - ·- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Mllw. Gas-L.-ht . . .. 4 871,4- fl{)l}.! 89~- 90 89 - 89ld 89 - 90 00 - 90½ .... - .. . . . - . . . . .. - • . . . N. Y. El. Lt. H. & P .. . 5 107 -103% 107 -108½ 107 -107~ 107 -107½ 107 -108 105½-108¾ 108,t-109¼ 109 -109½ 1G9½-HO no -111 lllijji-113~ I 9¼-111 Pur. mon. col. tr., a.4 92 - 93lJ:I 90 - IH¼ 00¼- 91 90¼- 91~ 91~ 93½ 9:!¾- 95 95 - 96½ 93¾- 9(½ 9i - 110:. 94¼- P4~ 94 - 9o 95}9- 116¾ Ed.ls. El.lit., ht,'10.5 10! -105 105¼-105¼ 102¼-102½ t03 -103¼ . .. - .... 1"4~-104¾ 105¾-105:J;{ .... - ... . l04¼-10t~ l04½-104¼ 1st, cons., 199/), fl .. ~ . . . 115¼-l lf>¼ 117 -117 120½-120½ N.Y.&Qu.El.&Pow.Con., 1told. 1930 ... .. 5 101 -102 lC0½-101 - •.. 101 -101 - .... 107¾-lOi* 100 -100 N.Y.& lUch.G.,1921 5 . .. People'tt G. L. &· CokP- .... 101½-101¼ .... - ... . 102¼-102,t .... lst, iruar ,ir., 1904. fi . ... - .. . 103 -103 101 -101 101¼-101~ 101!1:(-101¾ .... :ld, au ar., a., 1904 . . ti . ... - .... 12:a -122 12~ -122 121 -124½ . ... - .•. !25¾-125% 128 -128 124½-125 1st, con., ir., 1943 .... ti ... . 118¾-119½ 120½-124 Refunding, 194,. :i 104 -104 103 -103 - .. . 104¾:-llM¾ 106 -106% 109¼-109½ 105¼-107 Ch. G.-L. & C., lst .. 5 106½-107 107 -107 107¾-lO'i';J:( 107 -108 108 -10 . ..• - . . . 108 -100 10 l}.(-109!,, ll0½-110~ Con. Gas, 1st, 1936./> 105 -106 .... - .... 10:! -106½ ... - ... 105½-105~ .... - • . •. 105~-105:J,i 107 -107 105½-106¼ L07 - 107½ 10 ½-10'1~ 106¾-107¼Equit. Gas & F •• 1st.ti - .. l02J4·102¼ .... - .... 102~·102¼ lll::l -103 - ... . 101¾-101➔.I 101 -101 - ... . . ... - •... 101½ 101~ .... - .... tOl¾-102½ 102 -104 Mutunl Fuel Gas .... :; .... . ... - . .. . 105 -105 105 -105 Ml~CEL l,A NEO ( Tl-. Ad•nns Kx:press-Coll 4 102 -lll3 102¼-102¾ 101 -10214 lOO!)s-101~ 101 -101½ 101 -102~.! 102½-103 103 -103!,{ 101~-102~ l02!,,f-10rl½, 103 -114 IOrl~-104, B'ldyn Fer., 1st, cons.;, 61 - 66:J;s 6! - 64 64¼- 64~ 64 - 65 Ba½- oa~ 60 - 60 62 - 6 1 03 - 6462 - 62½ .... - .... 62 - 62¾ tl2 - 64 - .... 107¾-10 "~, Chic. Ju. & U. 81k. V .; Det lll.& i:U. L. G.-Inc 82 - 82 78 -80 7, - ~8 80 - 83 76½- 76~ 81 - 83 .... - •... EO - 81 N. V. Dock-:i0-year .. 4 90 - 91 90¼- 91 90 - 91 90 - 90 89¼· 90½ 89}6- 91½ 00 - 90½ 00¾- 9UJ,,. 91 - 91 9t¾- 92~ 03 - 95 Prov1den1 Loan.'~1.4½ I.JI:!~- 98½ - .... 112 -112 So. \'ubu Wnter ...... . ti 70 - 70 71¾- 76x tO - 80 U.S. Red. & Reftn'g,.0 .... tlO - 86 TELhG. & TELEP. 94-9-i .... 00 - 90 Am.'l'e leph,&Telefl.4 .... CommeTc'l Cable, lst.4 . ... 92 - 92 - .... 109:J;{-109➔.l 109:J,!-10~,. .•.• llht. Tel. & Tel.-lst.:i .... W. Union TeleirraphCol. tr., cur., 1938... :i 107 -107½ 10& -107 107 -107½ 107¾-108½ 108¼-108½ 108¾-1081}.i 108 -108¾ 108"'-109 110 -110,t U0¾-110.½ LJ 0¾-112 L12)1i-112!Ji, Fund. & R. E., '~0.4¼ 101_¼-104 101~-103;1:t 102~-103¾ 103¼-101¼ 101¾-lOJ 101¾-103½ 103½-105 10474 -105 105 -lOtl L05!.ii-10U~ 1U4 · 10! ➔•• 104¾1-104~ Mu t. Union Tel., 11. t.6 - ... . 107 -107 ,No. West. Tel.,'34.4½ .... - ... . 102 -102 . ... - .... 100 -103¾ .... .. - ... 102½-103 M'F'G AND INDrS'L. 96¼90¾ 97 97 97 - 97½ 98 - 98 9) -100 Ame1·.Uot.Oll,1910 4;,i, . ... P9¾-100 99!,g-11 0 97 - 97 95 - 25 75¾- 80 Am.Hide& Leo..-l8t.tl 70 - 81~ 80 - 86~ 76¾- 78 77 - 'i7 77 - 80 80 - 85 E5 87 b4 - 851,i 80 - 1:-7 87 - 95~ \15 - U ¼ 85¼- 85½ 85 - 85 117 - 87 Am. Spirits lUfir.-lst.6 86 - 88 85¼- 85½ 86¼- 86x 82 - 82 - 87 87¾- 8~ 88 - 94¾ 91 - 96 litl - !J7¼ 77½- 78¼ 79 - 79 78:½- til Am. Thread-llltcoll .. 4 74 - 74 80¾- 82!){ 82¼- 83 83 - 1:-tl 86 - 8 1 :-7 - 8 ¼ 76 - 77 Amer. Tobacco (new).ti .... .... - ... .... 107½ 108 l06M-lll~ lUI:! -llt¾ Ctfs . for gold, 19~1 ..4 .... 64 - t\5}1, 03¾- 'i 4H uu - 76 Consol. Tobac., :;o.yr.4 65 - 61¾ 53~- 57~ 56 - 59}:i 57;.(- 60 68½- 60 59¾- 62~ 61~- 64½ 62 - 72!.e :o·~- 7,X! 72➔-(- 'i~ 74>.t- 84 ►.: 74 - 1-6:J,.{ Ke11l1ttered ............. 4 .. .. 57~- 68>1, .... - ... . 58¼- 5811! 61;,1- 61~ 68¼- 68!,i 'ii - 7~~ 73 - 71 77 - 79 H5¼- 8j',,.{ Dht. Secur. Cor.-ht.:i 63 - 68½ 64½- 66½ 65½- 68 64 - e5}.t 62¼- 64~ 61½- 65 63 - t!5¾ 6'1¾- 67x, 66½- 74½ 6tl - 74x 73¼- 7i~ 77 - 80 Ill. "'teel deb., 1913 .. :i .... li2 - 92 Intern'I Paper-lst .... ti 106½·106~ IOil¾-106 105¼-106 106 -106¾ 107 -107 108 -108½ 108½-109x, 106¼-lOt!~ 108¾-lOJ¼ 109 -lOOx 109 -109~ LOO -109½ lot. Steam Pump, '13.t> 98 - IJ8½ 07 - 99 100 -101 101¼-102 102 -102 101¾ 103 100½-101½ 101 -102 lOl½-102¾ 102~-lUa\,\ tua -lOJ~ 104 -lO .. ¾ Knlckerb. Ice (Chic.).~ .. .. - . . . . 1!7½- 97½ .... - . . . . . . Lacko. Steel, l d •~a .. ~ 93 - 93}\ 93 - 93l}s. 9! - 95½ fl2:J,ii- 96x, 96¾- 9b¾ 073,.(- 9:, 97¾-101 lOQ¾-102 lOl¾-102¾ 100 -1oi 101¾ 105½ 105 -106 Nat.Starch lll'f'g-hl.ti .... 88 - 90~ Bi - 88 87 - 87 t9 - 89 ..• 90 - 90½ .... - . .. . 90 - vu N.l!im,ch Co.-~.t.deb.:i .... - .... 65~- 66 05¾- 65}.i 64 - 64 6i - 64 oa - 70 70 - 76 73 - ,3 ~tan. Rope & T.-ls1..ti 35 - 47 3d - 43 39 - 40 40 - 42 38 - 38 38 • 40 38 - 41½ ..• - ... 39 - 41¼ 30¼· 4.U½ 40 - 52 45 - t9.J.!> )Incomes, a-old, 1946.~ 11}.(- 4¼ 2 - 371, 2¼- 3 2 - 3 1½- 2 2¼- 2½ l¼- 2x, 2¾- 4¼ 3¾- 4 3 - II½ 4 U .s. Leatber-Oeb.8.1.ti 10;!>4-109 108 -110 109¼ 110¼ 112 -112½ 109¼-110 L09 -1C9.x, ll0~-110~ U0¼ -111½ 112 -112.½ 112¼-1 13½ 110 -110½ 1101}.(-111¼, U. "'• R ·a.lty & Imp ... :i . .. - ... - .... 80½- 83 80 - 85 81¼- 92 89¾- OH:. 83~- 117 95¼- 9i¼. U.S. !"hlpb.-ll!lt.A .... ., .... - . 29 - 28 - •...... U.~. St. Vorp.-~d,'ti3.~ 68¾- 75½ 71¼- 73~ ~2 - 75¼ 75¾- 79¾ 71¾- 74 73 - 75U 75¼- 79½ 77¼- 80 79'U- 82¾ t,2~- 88¼ 84 - 95½ 88 - f4 U.eaistered ............. ~ &¾- 74x 72 - 73 74¼- '14~ 74:}.1- 79 'il½- 74.½ 72¾- 76l-!i 76¾- 71J'.h 77~- 79:}.:i 79¾- 82¾ 82¾- 86 85¼- 95:14 90\s.- 114 COAL AND IRON. Col. Jfuel-191!1, g ...... ti .... - ... . l05 -105 l05 -105 - . . 107¼-107½ Col. F. & 1.-Gen., s.f.:> 97 ➔-£- 99 95½- 06¾ 115¾- 07 97 - {18½ 98 - 119 07!4-100 99¾-100 100 -100 100 -100½ ll-0 - 102 101 -102½ lO~-lOJ¼ Conv. debeo., 191 t . . 5 69 - 73x 70~- 711,-, 71 - 74 73 - 73 73 - 73 74 - 7'1 .. . . - . .. 79 - fO tO - 90 89 - IH Trust Co. certUic•t,. 7:.!½- 'i::lx, n½- 72).\, 70 - 71 71 - 72~ .... OJ¾- Oil~ 69½- 75 71½- 72¾ 73 - 7ll½, 78 - ~3 81 - 88 e2¼- 87 Gr. River Coal & C..: .. ti . . . . . . . - ... . 102),!!-102½ Cou1inent'I Coal-let . .) .... - . .. . 106~-107¾ 107¾.lO'i¾ 107½-107¾. Tenn.Coal Iron & Ry.General, 191)1 ....... I) .... 91~- 91~ 92 - 02 02¼!- 92½ 02 - 90 95¾- 96½ 1)/j - 96)4 - ••. . lt2 -104 lU6 -lOIS Tenn. Dlvialon ...... . ti . .. . ao -110 - .... lll -111 - . ... 104 -lOtS 106 -106½ 108 -108 IO!i§s-10~ 105 -108 LIO -1 0 112½ 112¾112 -113» 111~-ll:i½ Blrm. Div., 1st, con.ti 101½-103 Ue Bard.C.& 1.-Gu.ti 100¼-lvl>½ . . .. 102 -104 101½-lOi 103½-10! 10-! -105 tuf> -105 101¾-lOt 10~¾-10! 104)4-104}4 .... - .... llJ51J,.i-105,).t \ llo Iron c. & c.-tst-~ 71 - 71½ 71 - 72 68 · 70 67¼- 73 71 - 71 7L - 71 flfl~- 71½ 7L - l 6--½- 7-1, 7;{ - ~6 76"9 841}j 82 - 87 • 190:i. BONDS. ---------- J.A.NU.ARY FEBR'RY. MARCH. APRIL. MAY. JULY. AUGUST. 'I EPT'BER. OCTOBER. Nov·11ER Low.High Low.IIlgh Low.High Low.High Low.High Low.llillh Low.High Low.High Low.High Low.Big DEC'BE& , ow.High .vw.liigb A.nn Arbor-1 st,'U:i,ir.4 96¾- 98 99 - 9fl¼ 98~-100½ 99¼- W~ 99¾ 100 100 •101 99¼- W¼ W~- 99 . 9i> - W}4 98 - P9 9-1½- 19 9·½-100 A.tch. Top. & S. Fe.General, gold, 199/),4 103¾-104¼ 104 -104¼ 104 -105 102¾-103 l01¾-103¼ 103 -104 103¾ 105 103¾-104~ lOH~ 106 102¼;- lO!l¼ tOl:14-102¾ 102 -103 Registered .. . ...... 4 .. .. - .... . ... - ... 102½-102½ 100!,fi-101¾ lOll)s-102¾ .... 102~~ 103 .... - . . . 103½-101¼ lOl¼-10:t~ .... - •.. . 101¾·101% Con-vert .,iiold, 19/)/).4 .... - ........ . ... - .... 103 -103}9 100 -103 100¼-101½ 101¾-103¼ 102 -105~ 10!~ 106 103>11 105¼ lOZt}.(-105 101¾-103 Adjustm't, a., 199~. 4 94¾- 95¾ 95~.!- 9™ 96¼- 97¾ 96¼- 97 96 - 07~ 116 - 97¼ 96¼- 97 97 - 99 90 - 99¼ {19 - 99¼ 03½- 94~ 9J¼- 94¼ Reiristered .......... . 4 . .. - .. . . 93¼- 9~ .... - . ....... 95 - 9:5 Stamped, guar ...... 4 94~- 96 96 - 98 96¼- 117¼ 96 - 97 94 - 95¾ 9! - 96?1i 94¾- 95 05 - 97 9tS½- 97¼ 913¾- 93 9! - 94:):i 9'.l½ 9!¼ Deben ... E," 1907 .... 4 .... - .... - .... 90¾- 99¾ ... Deben. "G," 1909... 4 . ... - ........ · ........ - .... 99~ - 99¾ . ..• - .... .. .. - ... . .... Deben. "H," 1910 ... 4 99½- 99½ •. . • _ ... . ... East.Okla.»lv., lat.4 997-t- W¼ .... - .... .... - .... 98),( l:9½i 101¾-lOl½ .... - ....... 99!1;- 99¼ Atl. Coast L.-lst, Q' ... 4 101 -102½ 102 -103¾ lOQ¾-102➔.1 100¾-102¼ 101;.(-1 l2½ 1019,(-102)4 102)4-102¾ 102¾-103:J,i 1013,4-103 101)4-102 101 -lOJx LOlM-102¼ Reg1stere o . ... ........ 4 . .. - ... 102 -102 Ol)i-101¾~av . .Fl &W.,htir.ti . ... - .... 131~-131~ .... Ala. i.U ld .1st,19'lS . . d ... - ... 114.§s-114~ Brun & W., 1st '3S.4 . . . . - . . 100}4-lOO}d Sil. l':'l. Ocala & G .... . 4 .... 1:Jl - 101 L.&N.coll. ir., 19:i'l 4 .. .. 97 - 97;: 05¾- 95½ 95 - ll5¾ B. & O.-Pr. t.,ir.'2:i.3½ 94½- 96 95 - 95¾ 95 - 96 95 - 95~ 953,4- lifl¼ 863,a- 07¾ 95½· 96¼ 95¼- 95¾ 95¾- 97% 95½- 97¼ II ~s - 96~, 96 - ll6¼ Gold, 1,948 .. ......... .. 4 103¾-104!)! 104½-105~ 104¾-105 102:J,ii-103¾ 103)4-104¾ 104 -105 105¼ ·ll,t¾ 105)4-106 105 -105½ 103 -103)1, 102 -10;1), 10.!i)s 103¼ Re1ilstered ....... ... . 4 104½j-104½i ... . - ... . 103 -103 ... - .... 103 -103 .... - .... 10! -lOl 105 -105 10!½-lOi½ 102x;-102;,; wi~-102½ Lt2 -102¾ Conv. deben., 1911. .. 4 105 -lOIS¾ 105 -109}:4 1U9 -110½ 106 -110¾ 105 -101} .... - .... 113)4-114 Pitta.Jc.& ll'l. Div.3½ 91½ · 92¼ 92 - IJ3 U3¼- 93¼ 93½- 93¼ 91¾- 91!1:( 90½- 91 91¼- 92 91¾- 92½ 92'4- 9 !),i 93 - 9l . .. , - .... IWK- IH¾ P.L.E.& w.va.Su.4 99¼-100½]100 -101 100¼-100:J;{ 100~-101 98½- 9J 98¾- 9Jl)c< 99¾-100 99¼·100½100¼-lUO~ ll0¼-101 f/8 - 91-11; {18!4- 9•\r S. W. Div., ht, ir .. 3½ 92 - 93 92¾- 03 92¼- 93½ 92~ - 93 923,.(- 92¾ 92¾- 98¼ 91 - 92¾ 92 - 93 92 - 93 9~- 9:3¾ 9~¼- 03½ 112¾- 98 Registered ......... 3~ . . . . - ........ - . . . .. . . ~~¼._-....:9....:2"-' ¼e....::..: • ·..:..·.:. . ·_-.......:...--:.:.·.:....·..:..··.:....·_·_-___..:...:...:.____:_.:....:...:._..:....___ __:_ _ ___;._ __ _ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD BONDS. 83 1906-Contlnued. BOND S . JANUARY FEBR'RY MA.ROH. APRIL. MAY. JUNE. JULY. AUGUST. 8EP'TBER. OCTOBER. NOV'BER. DE0'BER. - - - - - - - - _ _ _ Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High_ Bait. & 0.- Con . ) Mon. R . • 1 .. t llU• g ... G .. .. - •••. 108¾-108¼ ·••· Cent. o. Reorll.l&t.4¼ .... - . . . 109 -109 Pitts.& W., l11t,'11.4 .. .. - ... . 98 - 98¼ 98 - 98 97¾- 97;14 100 -100 .... - • .. . 98½- 98¾ J. P. M. & Co ctfs... ..... - . . . . 99 - 99 . . . . Buff.Roch.& P.-Gen.:i .... - .... 119¾-119½ . . .• - . ... 120 -121½ 120¾ -123¼ 123 -123¼ .... - .... 123¼-123¼ ...• - ..•• R. & P., lat, 1921 ... ti 126¾-126½ .... - ..... .. - .. .. 124½ 124½ . ..• - .... 124 -124 ..•• .. 125¾-125'4 Consol., l ■ t ........ . 6 124¾-124~ 126 -126 126 -126 - ... . 126½-126½ ..•. - .... 129 -129 130 -130 . ... - ...• Buff.& Su ■ q.-l ■ t, ref 4 98¾- 99 ~8 - 98¼ 98¼- 99~ 99 -100¼ 100 -100½ 99¾-100½ 98¼- 99¼ 98¾-100 100 -100~ .... - ... .. .. - . . 99¼-100 Can. Soutb' n-1 11 t, lfU .:i 102¼-108~ 103"!,t-104 103½-104 103½-103¼ 103¾-104¾ 104½-104~ 102 -102¾ 102!,i-103½ 102¾-103¼ 102½-103¾, 103 -103¼ 103¼-104 ~d mortiralfe .. . .. .... . . :; 107 -108 108 -109 105%-106¼ 105'4-106½ 105½-107 106:ij-107 107)4-107½ 108)4-109 104:J4-105 104311-105½ 105¼-10i>1½ 107 -107 C. B. U. Pac.-ht, a- ... 4 94 - 94 1Jent. RR. & B., Ga ... :i 110 -110 112 -112 .. . - . .•. 112 -112 .... - . . . . ... - • .. . . .. - .... 1013¾-lOB:14 . - . . . . . .. - ... .•.. - . . . . . .. Central of Gn.-ht .. . :; 121 -121 ... - ... 121 -121 120 -121½ 119 -119 119¾-119¾ .... - ....... - ... llQ¾-119~ 120 -120 ..•• - . . 120 -120 Consol., 194 :;, gold .. :; 113 -118¾ 113¾-115x, 115 -115½ 115¼-116¾ 113 -114 113¾-114 11$¾-115 114 -115 114½- 115}2115~-116¾113¼-114~ 118 -114¾ l ■ t pref. Income ... .. :; 90 - 92 91 - 92½ 91 - 93 91¾- 9! 92 - 94½ 9J¾- 97¼ 96 - 96¾ 97 - 99 98 -101 95½- 96¾ 95)4- 96¼ 95¼- 95¾ 2d pref. Income .... . .. :; 69 - 73¾ 67 - 74¾ 67¾- 74~ 74½- 78ld 74½- 81 80:J,r 85 83½- 86 85½- 87½ 85 - 88¼ 81 - 83}.( 80 - 82½ 80 - 82 Stamped ... .......... :i . . . . - . . . . 82 - 82 i-.1 - 81 3d pref. Income....... :; 57 - 62½ 56 - 59~ 52½- 60 59 - 62½ 59 - 66½ 67 - ';'S¾ 73 - 78!,4 '77)4- 80 79 - &½ 76 - 78½ 74¾- 7~ 75½- 76'-( Chatt. Div., 19:il-.. 4 95 - 95 95 - 95 - .... 94.¾- 94½ . .•• - •••. 93 - 93~ .. - .•. . .... Macon & N. D. l ■ t... O .... - • • . 115¾-116¾ Mld.Ga . &At. Olv .. :i .... - •.•. 110~-110~ 11Q¾-11CI% . •. M ob Ul-v., 1st ... .... . 0 .... 115¼-1151-2. , .. - ........ Cent. ot New J er ■ eyGen. mort., 1987 ... . ~ 134 -135¾ 135¾-13~ 135¾-136~ 1853,(-136¾ 135¼-186¾ 136 -136¾ 183¾-184 134 -134¼ 134~-134~ 182M-135 182!1:(-134½ l34¾ ·130ti Reld■tered ..... ...... ~ 133:!4-134 1185 -135½ 184 -184 184 -134¾ 13414-184¼ 184¾ -135¾ .... - .... 13!{J11-138¼ 132¾-132:J:j 182;fi·l33lk, 133 -133¼ 131:'1;1-138 Am. Dock & Imp .. . . .. ~ US -113 112¾-113 113:!4-113½ 115 -115 114¼-114½ 114¼-llt½ 112 -112 112½-113 - .... 113~-ll~ U:-3➔.( 11$¾ L. & W ., mol't., 'l!l .. ~ 1031)(-104¾ .... - . . 1037Ai-104½ .... - .. . .... - ....... - .... lOll}a-102 i Con. ext., '10, a-u.4~ 101¾-102!,4 102½-10~ 102 -102¾ 102 -102¼ 102 -102¾ 101¼-lOl!J,i 101~-101¾ lOlM-102 102 -102 102 -102¾ 102)4-108 101 -lOll}( Oheaapeake & Ohloeerte ■ A, a-old, 190S.ti 107¾-107½ •••• - . .. . 108¼-108}i . .• • - ... 106 -106 . ••. - .....••• ..• . - .•.. 104¾-lOH, •.•. - .....•• - ~~::,~~;;~~~:ii.:::: iis¾~li9¾ ~~!¼=}!!½ iis½=li9~ iiii~122•· :~~=!~:~ ii.i¾=1is·· ~~~ =!~~½ iis:111~1iii¾~!!~=i~~~ ii·0¾~12i.. ~~~:=~:~ ~~: =:~:¼ Regl ■ tered .......... .:i . . .. - ....... - ........ - .. . . .. - .... 116)4-116¼ ...• - ... . .... - .... .. •• - . . 117½-117½ tlff¾-116 ~ General, 199~ .. ... . 4 ½ 107¾-109 lQSM-110 1059:(-106~ 106),(-108 107½-108 107½-108 107¾-109¼ 10~-111 107¾-108¼ 107"W-10'3¾ 107 -108½ l l:7 108~ Rei. l l!l tered. . . .. .. 4 ½ .... - ........ - . . . ... - ... .. ... - ........ - .... 106¾-107¼ . ..• - ... . .... - ... . .•.• - ... . •••• - .. 1071J4-107~ ... - ... . Craiar Valley, ht ..... :i . ... - ........ - ... 113 -113 .... - ..•..... R.&A.D.htcon.'89.4 101%-102'.U 102¾-103½ 102¼-103¾ 102½-103 103 -103¾ 103¾-104 101¼-102 101¾-1013,i ...• - .... 103~103½ 103)4 -103½ 104½-10~¾ 2d con ■ ol., t 989 . .. . 4 . .. - . . . . 98:J,r 98½ 97 - 97 98 - 98 - ... . .... - . . • . 98 - 98 .••• - .•. . •.•• - .•...••• Warmoip.Vall.,lst .:i .... - .... 11$¾-113:!4 . ..• - . •... . •• - ......• . - •••..•.. - .•.... .• - . .. ..•• • - ... ...• . Greenbrier, J st, a-u.4 .... - . .. - ........ - ..... ... - ........ - ... . 100 -100 .••• - ... . ... - . . Chic.&Alt.-Ket.'49 .. 3 84¾- 85 85 - 85½ 86 - 8~ 84¾- 85 84¼- 85l¼ 841}.(· 85¼ 84,t- 86 84¾- 85 84¾- 85 8 ~ 83¾ S !¾- 83':.t 82¾- 8~ .Railwa11, 19:iO ... ..... 3 X! 80¾- 83 82 - 82~ 81* 82¾ 81¼- 82¾ 80¼- 82}2 80),(- 82 7~- 80½ 80 - 83~ 82),(- 88¼ 81 - 82¾ &O½- 81½ 79¼- SOM Rea-istered. . .. . 3 ~ .. . . - . . . . . . . . - . . . . 80~- 80¼ . . . . - . . . . . . . - . • . . . . . . - . . . . . . . . - • . . . . •• • - . . . . . . . • - ... Ohle. Burl. & QuincyDenver Dh., 192:l .. 4 1019:(-102 101 -101 101~-101¾ ..• - .•.. 1023(-102¼ 102 -103 103 -103 100:).(-100~ 101¾-101¾ 101~-101¾ 101¾ 102 L01M·l02 Illinois Div.,1949.3½ 95¾- 96½ 96¾- 97 9~- ~ 97 - 98 97 - 98 97!1:(- 97¾ 95¾- 96¾ 951)4- 96¼ 96 - ~ 96 - 96¾ 95¾- 96¾ 95¾- 96M Rea-lstered . . .... ... 3 ~ ... . - .... 96¼- 96¾ ..•• - . .....• - ..•....• Iowa Div., 1919 .. .... ~ 110~-110¾ .•.• - ....... . - .... . ... - .... . ..• 1919 .. ... .. . . .... ...... 4 . ... - .... 103%-103¾ 103%-103¾ 103 -103 .••• - . . . . 101!1:(-108 ..•• - .... 102¾-1021h .... - .... 101¾-101½ 101¾·101:k; . .. Nebr' ■ka Ext., 1927.4 106¾-107 107 -108 108 -108¾ 108~-108!4 .... - ••.. 1063'-106¾ 107 -107 •••• - ... . 107¼-107¼ 107 -107 105)4-106 106 -106 Rearl ■ tered .... . .. . . . . 4 .... - .... 106¾-106½ ..•• - •. . . .... - •.. . 106~-1061;( ...• - ........ S. W. Ulv., 19'll ..... 4 .... - ........ - .... 100 -100 .••• - ... ... .. - ... . .••• - •••. . .•. - •... . .. Debenture, 1913 . . .. . ~ 107 -107 107 -108 107¼-107!'4 108 -108½ . ..• - .. . 106 -106 10{%-106¼ 107 -107¾ 107½-107½ ..•• - .... . .. . - ... 102 -106 Han. & St. J ., cons .. 6 . .. . - .... lll!J(-112 •••• - •••. 114 -114¼ 112'.(-1~ •••. - . .. . 114 -114 - •• lll!,4-111~ 111¼ ·112 Chic. & E a ■ t. TlllnolsRefund. & Jmpt ...... 4 .... - ... ... .. - ... . .... 97¾- 97!1( l11t, slnklnar tund . . . . . 6 105 -105 . .. - •. .. 106¼-106¼ . ... - .... 107!Ji-107¾ .... - .... 104%-104¼ 105¾-105:k, ... . - •... 105~-106¾ 106¼-106,1, 10:il}s 103% l11tcon11ol., arold .... ... 6 183½-134½ 136¾-137 138 -138 135 -135 137½-187½ 187¾-188 138½-138½ .. .. - . .. . •. - . .....• - • . . . 135)4-135½ 1857,(-185¾ Gen. con ■ • 1st, 193'7.~ 118¼-121 120½-121 120¾-120!1,j 121 -122 118¾-119¾ 119 -120¾ 120 -120¼ 122 -122 121¼-122 121¾-121¾ . •• - .. . 117~-llSJ,,( ,Rea-la1ered .. . ... :i . . .. - . . 119¼-119½ ... - ... . .••• - .... . ..• - ... ... .. - .. . . . .. - •• .. .... - .. Ch.& In.C'I Ry. ,ht.lJ .. .. - ....... - .. . 120 -120 121¼-121¼ .... - ... . 118¼-llS¾llll¾-119:J,, .... - .. . 120 -120 Ch. Ind. & Lou.-Ret .ti 134 -134¾ 185 -187 135 -136¾ 135 -135 - ... . . .• - ••. 184 -181 .. .. - ... . 135 -1~5 135}4-135½ 135¼-135~ 135¾-135¾ Retundina-, I 94, .. ... I) •••• - ... . 115 -115½ .. .. - . . .. 114 -114 112 -112 . ... - ...... .. - .... 118_¼-113½ 115½-115½ 115½-115¾ Lou. N. A. & C., let.ti 109½-lOJ¼ 109¼-109½ .. . - •.. . 110 -110¼ .••• - •.. . lll!l(-111¾ .... - .... 110¼-110¼10~-109~ 110 -110 110}4-110¼ . . .. - .... ~.M.&St.P.-190~ .... 1178 -180 183 -184 1S7 -187 . ... - .....•.. Terminal .... .......... ~ 109!J.l-109!14 110¾-110½ .... - .. .. 111 -111½ 111¾-111¾ 111¾·111~ . . . • - • . . . . . . . - .... 110½ 110½ . . .. - .. .. 110 -110~ Gen. M.,"A." 1989 ... 4 112 -112 112 -113½ 112¼-11331) 112¼-113½ 113¼-113½ 112¼-112¾ 110¾-111 111 -111 110%-110:):1110¾· 111 111 -112 U0¾-111½ Gen. M. "B" 1989.3½ 98¼- 98¼ . . •• - ........ - . . . . .. - .. .. .... - . . . . •.• - • ... 99 - 99 97 - 97 97 - 96 96¼- {16¼ 97 - 07~ 97½- 97¼ Chic. & L. S. Dl-v .... :i .... - ... . .... - .. .... .. - . . . 116;J:t-11~ .. .• - . .. . .•. - •.. - .... 115)4-115¼ ...• Chic. & Mo. R. Div .. ~ . .. . - .. . 119¼-llll¾ .... - •... 120 -120 119¾-119¾ . ... - •.. . ..•. - .. . ..... - ... 118;.(-llli¾ ... Chic. & Pac. Div ...... 6 110 -110¼ llOM-11~ 111%-111¾ .. .. - ........ - ... . lll¼-111~ . ... - ... . .... - ... 109¾-109~ ll0¾-110½ Ll0!,4-110¾ Chlc.&Pac. W. Div.~ 116 -117¼ 116¾-ll~ 116%-117¼ 117¼ ·117¼ 116¼-117½ 117 -117¾ 114.¼·116¼ 115_!4-116 . ..• - ••. . 115½-llf) 115½·116}1. ll5y.(-118¾ Dakota & Gt. So. .... ~ 112¾-112~ . . . . - . . . 112 -112 1st II. & D. Div ....... , 11~-114~ 117 -117 115¼-117 lloxj-115½ 115¾·116 .... - •... 113¾ -113~ . ••• l ■t I. &D. Exten . .... , .... - ........ - .... 183%-184 - •.. . r5 -1~ 185 -lE5 . .. - . . . . .•• 1 1st, La C. & D., '19.6 .... - . . . . ... - ........ - ... 115 -115 115¾-115¾ . ..• - .... Ll3!J( ll&M Mlnernl Point Div ... 6 ... . - . . . . . . . . - . . . . . . . - .... 106¾-1~ . . . . - . . . . . . • • l ■t So. Minn. Dlv ..... 6 110¼-110½ 110¾-111 ll~-111 . . . - .... . ..• - ... 111 -111¼ lOo¼-109 ..•• - ••. 109%-109¼109:)i-110 109%-110~ 1st So. West. Dlv ..... ti 109¼-109½ 109"-109½ .... - ... . 109%-109¾ 109¾-110 . ... - ... . 108¼-108¼ ...• Wis.& Min. Div ...... :; 115¼-ll~ ..•• - ... 116¼-115¾ 116¼-116½ 116½-116~ 116½-116¼ .... - ........ - .... ll5¼-115¼ 115;.(-115~ M.&N.,l11t,1910 ...6 .... - ....... - ... . 112¼·11~ . ... - .. . ..•. - .... 110 -110 ...• - ... .. ... - ..• M.& No., 1st on ext.6 116¼-116¼ .... - .. . . . •.• - ... . 115% lltl¾ •••• - ••. . Ohle. & N orthweat •.. 1 129¼-120¼ 128 -128x. 128 - 128¼ 128¼-1283i 126¾-127¼ ...• - .... 127 -127 127¼-127~ t27½·127¾ ..• • - .... 126 - 126, .Extension 1886-~G.4 .... - ... . .. .. - . .. . . .. - . .. . . .. - .... 105¾-105¾ .•• • - . . . . . •• - ••. .... • - .... 104:1(-104¾ LU!l¼-104.~ Rea-lstered ......... . 4 . . . . - . . . . . . . . - . . . . . .. . - . . . . . . . . - . . .. . . . . - .... ... - ... . 102¾-102¾ . . . General, 198'7 ..... 3¼ 99%-100"¾ 101 -101 00¾-101 100~-101 99¾ - 99¼ .•• • - •••. 101 - 101¾ 101%-101~100¼-lOH,ilOl -101 713 . .. . - .... ll9 - 99 l!lnklnar fund, co•p .. ti .. .. - •... 118 -118 117¾-117½ 118 -118 .... - .. . 114¼-114½ . .•• Rea-h1tered . ....... .. . ti .... - ... . 117 -117 .... - ••. .. •• - ........ - . ....... - .. .. 114 -114 Slnklnar fund, coup ... ~ .... - .. . 113 -113 .... - ••• . 110¾-110¾ •••• - ••....•• - •••. 113¾-113½ 110 -110 llO - 111 Rea-lstered .. . . ..... .. 6 .. .. - ........ - . .. . .... - ........ - ........ - ... . .... - .... 111 -111 .••• - . . l~-108¼ .. .. ~:; Yr■ , deben., 1909.~ 104¾-105 105¾-106¾ 105¾-106 .• .• - •••...•• - •• • 104 -105!1,( 104%-105¾ .• •• - ••• 105 -105 105¾-1051)41U3 -103~ ...• 3U•year deb., 1921 . . :i 11.2¾-112½ 112~-113¾ ..•• - ..•..••• - •• •. 111¾-lll¾ 112 -112½ 113}4-113¾ •••• - •••. 114~-114Jc 1119:(-111¾ . .. Debenture, 1933 ..... ti .... - .... 117¾-118~ 119~-119¾ 119¾-119¼ 117 -117 ...• - •••• 119 -119 118 -118 1116 -116 Re&"l■tered .. ........ ~ .... - ... .. ... - . . . 115¾-115¼ ... - . . . . ••• - ••• .11.15 -115 Korth. llllnol ■, lst .. 6 .... - ....... - .... .... 10()¾-1053' Ott.C.F.&St.P.,lst.~ .... - ... 107 -107 10,~-104¼ .••• - ... 105 -105 •••• - .••. l\J4 -104 Win. & St. Pet., ~d .. , .. . . - .... 110),( 110~ .... M.L. S.&Wht.,'21.6 129~-129¾ .••• - •••. 180 -130 .• •• - ••. . 1277.,i-12~ ... - •••. 129~-129¾ . ••• - ..•. 126¼·1269! Ext. & Imp., 19~9.~ . ... - . ....... Mich. DIT., l ■ t ..... . 6 181¾-181~ . ••• Con-v.deh.,190,. ... 6 . ... - ........ (1. R. I. & P. Ry.-'11.61223,rl22l}( 128 Beaiatered. .. . ....... . 6 . . . . - . . . . . . . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis - - = ·.·.·..· ·. ·..·. = .·.·.· .·.·.··..· = .····· 1·1·~·=11·8·~·4I' ·.·.·.·. - •.. .. .• . - -126 - .. . . L20 - 120 .... 105¾-105¾ ... . - •••••... l23¾-123¾ ~ 1 2 4 •••• - - . . . . . . . . - . . . . . . . . - . ... 128 -123 - •••• ~-121¼ 121"-121~ •••• - .... 1.22¾--122½122 -192 •• •• - - • • •. .. .. - • • • • . • • • - .. • • • • • • - ••• 122 -W .I.... - .. .. .... - ... .. 84 RAILROAD BONDS. 190:i-Continued. BOND S . JANUARY FEBR'RY. MARCH. APRIL. MAY. JUNE. JTT LY. AUGUST. SEPT'BER. OCTOBER NOV'BER. DEC'BER. Low.High Low.High Low.High Low.High Low.High Low.Hbth Low.High Low.HlghLow.HigbLow.Hlgb Low.HillbLow.Hiirh ..;;, Obie,.&. I. & P.-(Con.) General, 198S, ll••···4 lOiJ,.(-1~ 105}.!-107 106J,.(-1C6'.U 106¼-10~ 10~·107 106¾-107½ 105¼-106 105~-106 105%-105¼105¼-105¾ 105 -105}.t 105¾-l05M - .... .... - ........ - .. 1. 10!¾-104¾ . .. - •••• Rellist•red..... . . . 4 .... 95¾- 96¼ 95 - 96 06¼- 97 P6¼- 117¼ 97 - 98)4 98½1- 99 95 - 96¼ 95¼- 97 lat & refund •• 1934..4 97 - 993,s 98¼ 9 31, 97½- 98¾ 95),.(- 96 - .... Q7¼- 97½ ... <Joli.tr., aer. I.1911.4 .... - . ... . . . - .. . 96¾- 96l'( SerieB J, 191!1 ...... 4 .... - ......•• - . .. . 96),.(- 96¼ .... - . .• Serie• L, 1914... .. . 4 .... 96 - 96 95 - 95 ...• - •.•. 97 - 97 ... SerlH M., 191~ .... 4 .... 94½- 94¼ 95 - 95 - . . . . 96½- 96½ .... Serie ■ O., 1911 ..... 4 .... 78 - 80!,( 82¼- 84½ 83¾- 84¼ 82 - 84¼ 78 - 81 79 - 81½ 79~- 82½ 82¾- 88 82¾- 83),.j 81¾- 83½ 82 - 85 Railroad, ~002 ...... 4 81½- 88 79 - 79 - . .. .. .. - . . .. . . .. Relli ■ tered ........... 4 . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . 93¼- 94.½ 92 - 94.~ 89~- 92½ 87 - 90¾ 91¾ - 9t~ 94 - 94¾ 94½- 97 Coll. tr •• Ir•• 1913 ... ~ 95 - 97% 96½- 98 93¼- 9o¼ 02¼- 951,<f 90¼- 93 -100),.( 100 102¾-102¼ 11 102¼-102 101¾-102¼ 101½-102 -101½ 101 100:1,(-101!,( .... ..•. 102~-102~ 102¼-102¼ 102¾-102¼ Burl. C. R, & No.lat.~ 101¼-101" Cons. lat & col. tr .. ~ .... - .... 120½-120}\ 121½-121½ 118¼-118¼ 118¾-120½ 119¼ 119¼ 121 -121 119¼-120 120¾-120¾ 118½-118½ ...• - .... 118!':.(-118'-( - .... 111 -111 C.R.I,F.&N.W.let.~ .... <Jh. Ok. & G •• 1919 .. ~ .... - .... 110 -110 115 -115¾ 1103,s-110¼ . .•• - . ... . ... - . .. . ..•. - •.•. 108 -108 .••• - •.•..•.• - .•••..•• - •. . ....• lat, conBol., 19~2 .. ~ .... - ... . .... - . .. . . .. - ... 115 -115 ..•. - ••• Keok. & Dea lU., ll!lt.~ . . . . - . . . . . . . . - .... 11°"-11~ 109 -109½ 109),.(-109¼ . . . . - ••. 110 -110 . • . • - .... 110¼-110¼.... {)hie. St.P, Min. & Om.ti 188¼-184½ 185¼-136 136¼-188 137 -137¼ l38 -138 134.¼-137¼ 1373,s-137!,s 137¼-137~ 187*137¾ 138,s-l38jg 188*139 135¼-135¼ Chlc.St.P.&M.,lat .. 6 .... - ... ..... - ....... - ... . 135 -135¼ ...• - ... .. ... - .... . ..• - ........ - ....•.•• - •••. ..•• - .... 135),.( -135~135¼-135¼ . 1253,s-125¼ ..•• - •.. . 122¼-128 . ... - ..... ... - ...• St. P. & S. Clty-lat .. 6 .... - . 125¼-125½ ..•. - .... 123¼-123½ 123~-124 124),,.(-125 97 - 98½ 96¼- 97 .... - ......•• - . ... 98¾- 99¼ 99¼-100¾ 99 -100 97 - 97 97 - 97 97 - 97¼ 97 - 97 Chic. Term'I Tranaf .. 4 86,i- 99 97:Jt-100 ~7!¾(- 99 95 - 99 94½- 95 94¼- 95 98 94 P7 95 95¼ 94~95 94¾Coupoa eff: ....... . ... 4 84%-97¼ 94~- 95¼ 94¼- 95~ 115 -115 114½-114½ 115 -115¾ ... - .•. . 113¼-118¼ .••. - .......• - .... 113),,.(-113¼ Chic. & W. lnd.-Gen.6 ... - ... . 116 -115 .... - . .. . Cln. Day. & Ir.-ll!lt... ~ .... - .. . ... - ... 117¾-119 117¼-118 116 -116 . .•• - ... . .•. - .••...•• - •••• 117¾-117%117¾-117~ .•• - ••••. •. - .••• •.•... ~. . .. - .... 96M- 96~ . .•• Ctn. Ind. & W. '~3 .... 4 98¾- 99½ 98 - 99),,.( 98!J:1- 98¾ 98M- 99½ 99 - 99 Cle..-. Clo. Ch. & St.L.4 101 -103 103 -101 102¼-103½ 102¼-103½ 102½-103¾ 101),.(-102¾ 102 -103¼ 103 -103~108),.(-104 103¼-10! 103½-104)4102¼-108~ .... 102 -102¾ ..•• - •.•. 1011}.(-102 ........ .•• -100¾ 100 ..•. Caire DI..-., lat. ... ... 4 .... - . . . 100¾-100¾ .. .. - .... . .. - .... 101 -101 . ... - •.. . 100¼-lOOM 101~-101¾ 102¼-102~ Cln. Wab. & M., lat.4 .... - .... 98½- 98~ 100¼-10~ .•.• - .... .... - ... . ..• - . St,L,Dlv., ht.1.990.4 100¼-102 102½-103l1, 102 -102¼ 102114-103 100~-101% 101¾-102 102)4-102¼ 102½-103¾ 103 -103 103%-103% 101¼-102 lOiJ¾-101~ .•• - ••...... - . .. . . .. Sp. & Col. Div., lBt.4 .. . . - ... . 99¾- 99¾ .... - .... 101¾-101½ 100½-101 101%-101:U, 103 -103 ...• - ....••• - •••. 102¼-102½ 101~101¾ . . C. I. St. L. & C.,'36.4 .. .. - . ... . .. - ... . 102,t;-102¾ 101:Ji-101¼ .•.• - •..• . . .• - .... 101¾-lOl¼ . ... Realatered .. .. ...... 4 ... . - •.. . 114¼-114¼ ...• - .... llA -114 112¾-112¾ ..•. - ... . .•.• - ..••. .. • - .... 115).(- 115~ 115 -115 Oin. San. & Cl. cons.~ 112 -112 121114-121!14 . ... - . .. . ..•• - ....•••• - ..• . 123),,.(-123¼ . .. C. C. C. & I., conaol..'7 ... - . .. 131M-131¾ 132¼·132%134¼-184½135 -135 - .... 135 -135 134 -134 Gen. conaol., 1934.o .... 98 -100 100 -100 100 -101 99¾- 99~ 99½-100 98 - 99½ 99 -101 100~4-lOO¾ 100¾-101 99¾-100 99½ 100 Peo. & E., lat, cona .. 4 98¾-100 73 - 76¾ 75~- 78¼ 72 - 80% 71¼- 74¾ 72¼- 74.¾ 73 - 74¾ 74 - 76½ 74¾- 75½ 73~e- 75 80 - 84 Income ■ , 1990 . .. . .4 73 - 7tl½ 76 - 82 115~-115¾ . . .... .... :} .. CI.Lor.&Wheel,,'33 Vle-Y. & M.. Val , '38 .. :l 116¼-116½ 73½- 75¼ 75 - 7~ Col. Mid. lat, 194'7 .... 4 73!'(- 75¾ 74½- 76 75),,.(- 77 75 - 76 74 - 75>tl 7!¼- 78¼ 78 - 75¾ 76 - 76¼ 74~- 75¾ 73¼- 75 Col. & So.-lat, rr.•~9.4 91½- 94½ 90~- 93½ 92 - 94 93¼- 95¾ 93~- 9i¼ 9.1 - 95 9!/M- 96¾ 93¾- 94¾ 93¼- 94 93¼- 94½ 93¼- 943,s 93¼- 9i¼ Delaware & Hudaon- •••. . ..• - •.•. . ..• - ••.. . ..• - •• . .. - ... . 13! -134¼ lat Pa. Div., 1917 ... 7 .. .. - ... .. ... - .... - •... 1023,s-102¼ - •... . ... - .... lOl!,4-101 ~ - .... . ... - ...... . . - .... 1o·J),,.(-103!4 .\.lb. & 8u ■ q., l ■ t, iru.1 .... - .... . . .. - . . . . ht, aruar., 1906 .... 6 104¼-104¼ 104¼-104~ 106¼-106¾ 102¼-102¾ 102¼-102~ L02 -102 102¼-102¾ 103%-108¾ 103:),(-103;14 100¼-100:U 101)4-101¼ 101¾-lOliJ! . . . . - ... . 142¼-142~ . . . . - . •. RenH. & ~ar. 1 lat ... '7 . . . . - ••. . 106½-106¼10 1%- lO'i¼ 106%-106¼ •.. - ... . Doi. Lack. & W.-'0'7.1 110 -110 110~-110~ 108 -108 - .. .. 129¼-129¾ 126 -127 126~-126¼ . ..• - . .....• - ... . .. - .... 130 -13U 123¼-123¼ 126¾-12698 Morrl ■ & E■ aex, lat.'7 .... - ... . 1284-128½ 13U¾-130¼ 1307.(-130½ 130~-130¾ 181¼-131¾ 128%-128¾ 128½-128¼ .... - •... 126¼-129~ 127¼-1213¾ 130½-130¼ 123¾-1211¾ ConBol., rruar... ...... '7 127 -127 . . . . Redatered ......... , 130 -130 N. Y. L. & W., ht .... ti .... - . .. 1293,s-l29.l1l 129J,:!-129~ ... - •.. 129½;-130 130½-130½ . .•• - . . . . 127M-128¼ .... - •... 129 -123~ 128%-129 - ••••••• - • • • . . •• - ••.. 118¼-113),,.( 113!;1!-113M - .... 112},t-116 Conatruct'n, 1923.:i ... - .. . ...• - ... . .•• - •••. lOi¼-105 10!!'(-105 - .... 104 -104 Term'l & lmpr'mt..4 103 -103¼ 104 -104 103¾·105 lOB½-106½ . .. -107 107 105%-108 1053,-105½ ... - .... 103¾-104.¼ -107 107 . ... . .. Syr. Blnrrh. & N. Y .. 1 1~-107½ Denver & Rio GrandeConaol., 1936.. ... . .. .4 100 -102 101¼-102 101 -101~ 100~-101¾ 100¾-101¾ 101!'(-102,½, 100.½-101 101 -102~ 101¼-102 101 -102 1011,(-102 101¾-101¾ - ... 106¼-lOt!\14 - ... . 108 -108 lat, CODl!lol., 1936 .. 4x .... - ... . 103 -109¼ - . ..... - ..•. 1063,s-109 Improvement, 19'48.~ 108 -109x, 109 -110 109,t;-109~ 109¼-110 108 -103 107,t;-108 109¾-109~ 109!I!-110 99¾-100¼ 93½-100 97 - 99¼ 99¾-100 9iJ)4-100 99¾-100 99¾ 99¼ 99 98 99~ 98¾4 91J½-101 ... lat 99¼-100 Weat., Gr. 99¼-100 Rio 91¼- 91¾ 92 - 92½ 90 - 91½ 90 - 91 110 - 92¾ 91 - 91;>4 lll - 91¾ 91¾- 91¾ 91!1,(- 92 Mori. & coll. tr.,A.4 89 - 94½ 112 - 94~ 90 - 94 - • . . . . . . - . . . . . . • . - •. . 101 -101 Det.&Mack,-l ■ t llen.4 .... . .. - •... 95¼- 95:½i .... - •.•...•• - ... 953,s- 95¼ 96➔-s- 96~ . ... 96 - 96½ . .•• 96¼- 97 Gold ................... . 4 95 - 95 • •., . . . . - .. . 81¾- 81~ . . . . 80 - 84 Detroit So.-lat, '~1. 4 70 - 72 93¾- 96¾ 98¾- 93¾ 93¼- 93½ 9:3¼- 93)4 91 - 93 92¾ 92¼- 94 92,½93 92 93¾ Ohio ~o. Div., lat .... 4 90 - 92h 9i¼- 96½ 113 - 93½ 92 - •••..... - . . . 114.~-llt½ 114>ti-114½ . ... ... - ... . 114 -114% ll6 -116 114½-114½ 115 -115 D ■ lutb & I. R.-l ■t .. . ~ .... - ... . ... - . . . . 113¾-113~ 114½-1147(} 114 -114 - . . . . 115¼'-116 Dut.s.S.&Atl.-1931.&J lll¼-111:}.. Ll2½-114 114¼-114~ ll5 -llo - .... 120 -120¾ 120 -120,¼ 120~-120¾ .... - ..•. 118¼ ll8,½ Ll8~-118!,4 120 -120 ll8 -119½ Elll. Joi. & E.-lBt, a- .. ~ 1173,s-11?.½; Erle- •.. . 108¾-108~ ..•. - •.. ..... - .... 107 -107 lat ext., 1947 .... .... 4 .... - . .. . ... 109 -109 - •... 110,¼-110½ . ..• - . . 109 -109 3d, Ext., 19~3 ....... 4~ 1CJ7¼-107½ - •.. 114¼-114½ 114¼-114½ 114,¼i-115J4115J,.(-ll5¼ 113)4-118!,( 4th, Ext., 1920 ...... . :) ... - ... 117½-117!,t - . . . . . .• - • . . . . . . - . .. ... .. 6th, Ext., 1928 ....... 4 101¼-lOl h 103 -103 lat, conHl., rrold .. .. , 135¾-la7 136\Hi-137 133 -138½ ...• - .... 134½-l3i½ . .. - . . . ... - .. .. .... - •... 132 -132~ 132¾-132¾ 133 -138 132¼-133 lat con. prior lien, ll•4 100 -102 lvl½-102 tOl¼-102 101!,ti-102 101¼-1(12~ 101¼-103¼ l00¼ -101¾ 101)4-103½ 102¼-103 101¾-102➔.I 101¾-102¼ llll -10~¾ .... - ..... ... - . .. . . . . - .. .. lOl¼-101½ . ... - •... . ... - ... . Re1rl11tered . ......... . 4 92¼- 91 IJ2 - 93¾ 93¾- 94¼ 93½- 9i~ 94 - 94.½ 98 - 94 lat con. rren. I., '96 .. 4 91 - li2¾ 91~- 92¾ 92¼- 93.½ 92¾- 93.li 9l~- 93½ 93½- 95 95¼- 96¼ 04¾- 95¼ IJ5¾- 96½ 91;¾ - 96 96!,4- 9 ~ 96 - 97 IJ4¼- 95½ 95 - 96 Penu. coll. tr., 19~1.4 95 - 97X! 94¼- 95¼ 94)4- 115)4 94½- 95 108¼ -109'4106¼ 106 106¼-110 lll¼-114 30•JT• coa..-., 19~;:I .. 4 95¼-103~ 108½-109 1071}.1-lll 105),,.(-108 108 -108½ 103¼-105½ 105¼-108¼ 107¼-114),,.( Butr.N.Y.&E.,lat.1 .... - .. . . ... - .. . 126½·126¼ .•. - ... .. ..• - •..... .• - .• ...... - .. . . ..• - •....••• - ... . ... - •... 127 -127 .. •• Buff. & s. w., rr.,'08.ti .... - ... . . .. - .... 105 -110 .... - •.. . . .. - . . . . .•• - .... . ... - ... .. .•• Chic. & Erle, l ■ t, a-.. :} 121¼-12~ 123 -123 122¾-123½ 123¾-128½ 120¾-121¼ 121¼-122¼ 122!,t-123 123 -123¾ 123¼-123!)4124)4-125.½ 122~·123 121 -121¾ - .... 102!1:(-102¾ - .... 10!¾-104~ .... - •.. - ... 102!>.(-102¾ 103 -10! .. .. - . .. . .. •. Jetrer ■ on RR,, lBt .. ~ .... - ... 105 -105 - .•• . 134¼-l 4¾ Lonrr Dock, conB.'3~.6 134ll4-135>1, 136½-13tl¾ 136),( -136)4 ..•• - ........ - . .. 134¼-134½ . .•• •... 115¾-115¾ .•. -115.½ 115½ . .. - .•. .. ... - . . . . ... - ... . . .. - .... 116 -116 Dock & lmpt. Co ..... ti .... - . . . • .. -121.½ 121 .... •••.... -117 117 . ... .... ... ..• . ... ......• -117 117 ~ .. L N. Y. & Greenw. - .... 110)4-110~ 10"71rl07¼ .•. - .......• - •••• - .... 108¾-108½ 109¾-110 ll0¾-110)4 .... Mldl'd of N. J., l ■t ... ti .... - . ... .... .. - . ... ..• - •... 116¾-116~ ... - ..•. !f. Y. Sul!I. & W., ret.~ 114~-115~ 116 -116 116 -116 116 -116 .... - .... ... - •.. . .. - •. . 102¾-102,¾ - ... 102!-11102¼ 104 -104 ..•• - •.. 101 -101 1013,s-lOa ~d, 1937 .. ......... 4¼ .... - ... . ... - • . . . ... - • . . 106M-107~ 107¼-107¼ ..•• Gen., rrold, 1940 ... . [) 110¼-111 109 -109 110 -110 110 -110 U0½-110~ - •••. 119¾-119¼ 118).(-11~ - ......•. Term'J, l ■ t, 1943 . . :> 117¼·117½ . ... - •.•. ...• ~ - ... . ...• Willk.&E.,1Bt,'4'l.;) 109¾-109¾ ... Evan. & lnd.-ht con.ti 118~-113~ 114 -114 .••. - ... . 114 -114 . ..• Evan ■v. & T, Haute- .... 120½-121 120),.(-120),4 122 -122 .... - •... l.ll4 -124 ConBol ..... ........... . .. . 6 .... - .... 123¼-124!,:t 1233,s-123¼ ..• . lat, rren., 1942, rrold.~ .... - . . . . ... - ....... - .... lOtl¼-106,¼ 107 -110½ 110½-110>{! 110¾-111 111¼-lll½ 112 -112 110 -110 llO!J(-112 111 -111 - .... . .. -114 114 -116 116 .... .... Mt, Vernon, l ■t ....... ti .... Pt, W. & D. C,-lat .... 6 108¾-112¼ 109¼-111¼ 109*113 113 -114½ 118 -114 109¼-111 lOQ¾-114.¾ 114 -115 113 -113¾ 113 -114 113 -114¼111 -113 90 - 92 915 - 96 89¼- 91~ 89 - 89!,,( 89½- 92 90 - 90 QO¼· 92 90 - 90 90 - 91 Pt, W. & R. Gr.- lat .•4 85 - 66 86.xi- 87½ 89 - 89 101 -101 Qalv, H. & .ii. of'8~.. ~ 105¼-105½ . .. . - .. 105¼-105¼ .... - .... 102¼ -102½ ... - ......•• G,No.-C.B.& Q. cl.tr.4 99 -101¼ 99~-100¼ 99¾-100¼ 99¼-100 99½ ·104¼ lO Z¼-103¼ 101 -101¼ 1013,s-101¼101¾ ·102½101J4-102¼101 -102¾ 101 -102¼ 'Rell18tered..... .... 4 98¼-101¾ 991'4-lOIJ¾ 98¾· 99¼ 98¼'- 98¼ 9~-101¾ 101 -101~ 101 -101¾ lul -101¾ lOl -102 100¼-101¼ lOOM-101 ll9¼-100 - .... 104¾·104Xi 102 -102¼ 102¼-102~ 10:J¼-103¾ ..•. - •••. 103 -108 102 -103 GuU & Sh. I, 1.at ret..~ 103 105}.C lOi¼'-105¾ 105 -105 Hock.Val.-ll!lt.cons.4~ 109 -110¼ llQ¼-111~ ll~-111¼ 110¼-111 111 -111¼ 111 -112 109¼-llO>tl 112 -112 Ul¼-112 111¼-ll~lll -111~ 109¾-110 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD BONDS. 85 190:5-Continued. BONDS. JANUARY FRBR'RY. MARCH. APRIL. MA.Y. JULY. AUGUST. SJCPT'BRR. OCTOBER. Nov'BJCR. DEO'BJ:B. - - - - - - - - - - - - - - - - - -----1-----J----- - - - ·- - - - - - - - - - - - - - ---- Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.Hillh Low.Hlitb Low.High Low.High Low.High -----·-----•--- - - - Booldnar Valley.-(Con.) C. & H. V ., 1st, ext .. 4 . ... - .... 100 -100 ... - ... . 103 -103 .••• - •...•.•• - .••.... - ... .. ... - .. .. .. .. - . . . . . .. - ...• Col. & Toi . 1 tn, ext.4 .... .... - ........ - .... .... - ........ - ... 1021¾!-102¾ l02¾-102lJ,t 103¼-103¼ 103½-10~ IIU.neltt Cent'l-19~1 .. 4 •... - .... .... - ... . 110¾-110>( .... - ..•.... - ... . ... - .. . 109Yll-111 ll0¾-110¾110 -110 l•t• a-old, 19:;1 .. . .. 3½ .... - .... 103 -103 101¾-101½ . ..• - .••. 102¼-102½ 102¾-102¾ 102 -102 102 -102'4 .•.• - . Extended 1st 19:;1.3¾ .... - ... . 102 -102 10~-102¼ ... - ...• Geld, l 9:12............. 4 105 -105 •••• - ... 1()6¾-107\.6 .. . 106¾-107 .. . - ... . 108 -108 107!'4-107¼ ...• - •... 105¾-105:M 105¾-105¾ 106¾-1~ Gold, 19:i3 ... ......... .4 104½-106 105¼ ·105½ 105 -105½ 10;5¾-105,½ 105 -105!,4 105%-105¾ 105½-106 106¾-106¼ . . - ... . 106¾-107 10~-105~ lO!ih-105¾ Regiatered ........... 4 .... - ........ .... - ... . 103 -103 106¾-106½ .... - •...••• Caire Bridge, 19:;o.4 ... . - . .. . 95 - 95 .... - .... . ... - . . .. . .. Louin. D1'r., aold.3½ 94¾- 95 .... - .. . . 94¾- 96¼ 04¾- 94~ 95¼- 95:Ji .... - .... 96-96 94¼- 9!¼ 94¾ · 95 Omaha Div., :l•t, ar .. 3 85½- 86 .... 81 - 81 .... St L. Div., 19:Jl •. . .. 3 .... - ... .... - ••. S!l-84 ..•• - .... 85-85 - •.. . 86¾- 86¾ Gold, 19:;1 ........ . 3¾ 95½- 95¼ .•• - ••.. 96 - 96 - ••• 92½- 92½ W e11tern lines, 1st... 4 . . . . - . . . . . . . 109*109¼ ...• .... .... Bellev.& Caron.l•t.6 .... - ........ - .... 122 -122 . . . • - ... 122 -122 C.St.L.&N.O.,19:;1.;J 123¾·123~ 125 -125 .... . . . . - .... 124 -124 . • • . - .... 121¾-125 . • . • - ..•• Memphi• Div., lst.4 110½-110½ .... Ind.Dec & We11t.- ht.ii .... - ...... .. - .... 109¼-100~ • .. - ... . 110¼-110½ lll¾-111¾ Ind. 111. & 1.-ht,':;0.4 .... - ........ - .. 99%-100 .... - .... l00½-100½ .... - ... 99!1.(- 99¾ ..•• - ........ - ... . 100¼-100½ . .. - ....... . Int.& Gt.No.-l•t,'19.6 121 -121½ 121¾-122~ 122¾·122½ .•• - ... . 119~-120½ 120 -120 119 -121½ 120¼-120½ ... - ... 122½·122½ 118 -119¼ 119 -119 2d, 1909 ............. ... :; 101¾-103 102 -103¾ 100 -101~ 101 -102 100½· 101¾ 101 -102 102 -102¾ 102¾-103 100¾-100¼ 100¾-101~ 101¼-101½ 100 -101½ 311, 1921 ............... 4 70¾ - 79¾ 79 - 81 75 - 78 76 - 77½ 78 - 80 79 - 80 81½· 81½ 82 - 82 81½- 81½ 81¼- 81½ 78 - 78 Iowa Cent.-lat, aold .. ii 1147(-115 114½-116 115%-115¾ lU¾-115¼ 114¾ 11~ 1123-9-112~ 113 -113 .. . . - .... 113½-ll! . ... - .... 117 -117 118 -118 Refundina, 19:;1 ..... 4 86 - 86½ 88 - 88 85½- 85¼ 85 - 85 .... - •....••• - •... ... . - .... 85 - 87 .. - .. .. . . - .... 86 - 86 K.Clty So.-ht, 19:;o.a ~ - 75 74~- 75¼ 72 - 74¾ 70 - 71:1,.t iO¾ - 71½ 70¾- 71)4 71¾- 72~ 72%- 73 72Yll- 73).1 71¾- 72¾ 72~ 73½ 72M- 78M L. Erle & We■t-l•t ... ~ 117½-119:14 . . . . - .... 118½-118½ 118¾ ·119 119 -119½ 119¼-120 118 -118 118¼-118½ 118½-118½ 119 -119 120 -120 120 -120 !id .................... .... ~ .... - . .. 112%-112¾ 114½ ·11~ 116~-llt¾ .•.. - •.• . 114½-114¾ 1H¼-114x. .. .. - ... 11;5¾-115¼11534,- 115¼ 115½· 115½ Northern Ohio, tat .. ~ 117¼-1111¾ 119¼-120 . ... - ... . . . - .. .. • ... - • ...... • - ... 118¼-118½ ... - .. .. 117 -117 Leh. Vall. (Pa,), con .. :; 108~-108¾ .... - ..•. 109%-109¾ 109%-109¾ . ... - •... . ... •• •... . _ ..•• Geo. cons., 2003 .. .. 4 .... - ........ - ........ - . .. . .... - .... •··· - ....... - .. . . .... - . ... 101¾-101¾ .... - .•.. 100!1( lOo,t Leh. V . N. Y .-l•t, au.4½ .... - .... ll0½-110½ lll½-111~ ll~-111 111 -112¼ 11~112¼ . . .• - .. . 1::>½-110¼ 110%-112¾ lll¾-112}4 lll¼-112 •••. Reatatered . ......... . 4¾ .... - . . . . . .. - ... ..... - ... . • ... - .... 108¼-108½ ... - ... . U0¼-110½ ll~-11~ ..• - •.•• Leh. V. Ter.-lat, gu .. ~ 119¾-119¾ .••• - •....... - .. . 117¼-117½ 119¾-119!,4 ... - ... .. ... - ... 118½-118¾ . . . - ....... - ..• Leh.Val.Coal-lat,gu.:i .... ·· ... . .... - ....... ... - .... 115 -115 ..•• - ... . .. • Leh. & N. Y.-l ■ t, au.4 D9 - 99 . ..• - ......•• - ... 97¼- 97½ .... - .... 9~- 98¾ 97¾- 9~ Lona hl'd-l•t, 1931.:i 117~-117¾ 117¼-117¼ ... ·• .. . 117¾-117½ .. - ........ - .... 116 -116 . ... - .... ll5¼-116 Gen. mort., 1938. . .. 4 .... - .. 101¾-101¾ 101¾-101~ 101 -101 101¼-102½ 101 -101 1007A-101¾ . ... - .... . ... - . .. 101%-101¾ 102¼-102¼ . ..• - ..•• Ferry, lat, 1922 . ..4¼ 105 -105 - .•.. 102¾-102¾ ... - .... 102 -102 Unified, 1949..... .... 4 lOllkj-103 1017(-10~ 100¼-lOl!}~ 100)4·101 100¼-10:.l 100}(-101¾ 100¼-102¾ 102¾-102¾, . .•• - .... 100½-100¼ 100¾-100lJ4101 -101~ Gen. ref.,.-., 1949 ... 4 102 -103¾ 103 -103¾ 101¼-102 101½-102 102 -11)2~ 101¾-102!14; 102 -102¾ 102¼-103¾ 101 -102 - . .. . 101¼-102 101~102 B'klyn & Mon ., l•t .. ti .... - ........ - ... . .. .... . - ........ - .... 105 -106½ N. Y. & .R. B., 1st.. ~ . ... - ....... - ....... 111¾·111~ .... ~e.Sho.Br'b,lstcen.~ .... - . ...... - . .. .... - .... 11~-112¼ ... Leub'a & Ark.-l•t .. ~ 104½-104¾ 105%-105¾ .... - ... . 104¼-105!,4 . ..• - .... . ... - •... 10;5¾-105¾ 106 -107 .... .. . . 104¼·104~ ...• Leub. & No.•h.-Gen .. 6 119 -120 ll~-120¾ 121 -121 120%-122 121¾-122 U9 -120 120 -120 .. . - •... 121 -121 121¼-121¼ 122 -122¼ 119 -120 Gold, 1937 . ....... ... .. :i- 117 -117 lW¼-119!,<i ... - · . .. . ... - ... Ll8¾-118¾ ... 118%-118~ .. . Unified, aold, 1940 ..• 102½ 103½ 102¾-10311 103 -lW 102¾-103¼ 101!½-104¼ lOi½-105¾ 103 -104¾ 103¾-lW¾ lO!l -105 104½-105½ 104%-106 105 -106 Col. tru•t, Ir•• 1931 .. . ~ 114¾-114% .... - ... . .... - ••.. 115 -115 ...• - . . . ••• - • .. .. .. - .... .. .. - .... ll8½-l1S~ 12U¾-120¾ 113 -118 LH½-114¼ Cell.tr .. ~-20s,1923.4 98½- 99¾ 99~100¾ 99¼·100½ 97½- 98¾ 98 - 98½ 98½- 99!,:( 99 - 99% 99¼· 100 100 -100~ 98 - 98¾ 98 - 99 98¼-100 E. B. & N., l ■ t, '1 .. 6 1U½·114½ .... - •... . . .. - ... . .... - .... 116¾-117 ll4!,:(-114¾ ... Leul ■ • Ctn. & Lex.4½ .... 109 -109 N. O. & ill eb., bt .... 6 130½-130¾ 130J.(-130~ ... - ... . 131%-131¾ 131~-131~ 132 -132 ..•• - ••.. 128½-130 . ... . ... 181 -131 rnl¾-131~ 131 - 131 !ld, 1930 .. . ........... 6 .... . .. 126½-126½ ...• ••.. ltS -128 . .. . Pen11acel11 Dh' ........ 6 .... 114 -114 St.Lou1 ■ Dh., l•t ... 6 .... - ... . 121¼-121¼ .•.• ... . 74¾- U¾ .... 2d areld, J 980 . ...... 3 .... - ··· · ··· .... 113¾-113¼ 114¼-114¼ . . . . - . . . . . Atl.Kaex.&Ne.,lat.:; .... - •··· •· ·· Pen•n.c. & Atl., 1•t .. 6 . ... - ... . 113 -113 112¼-112¼ • ... - ... . . ... - . . . . •• _ - ... ... .. - ........ - . . . . .. . - . .. 114¼-116 115 -11~ Ken. Cent., 198'7 ..... 4 98¾- 91J½ 99:ll!- 99¾ 100½-100½ 101¾-101~ 100¾-100,-.i . ••• _ ·- ... ... .. - .... 101½·102 l01½·102¾ ... - .... ,01¾-102 L&N&M&M,l ■ t.4~ ... - ... 110 -110 .... - . . .. .. - .... .. . • . . . . . . - . . . . . . . . - .... 108 - 108 L.& N.-l!feuthJoint.4 96 - 96½ 96½- 96¼ 96¾- 97 96½- 97 97 - 97 93 - 98% 98 - 9in~ 96½- 98 96¾- 97 97 - 97¼ 96¾- 96:U 96 - 97 Real•tered .... ..... . 4 . . . . - . . . . 95 - 95 . . . - . . . . •.. N.F .&s.. 1.t, aa..'3'7.;j 115¾-115¾ 11~114½ 115 -115 . ..• - .... 115½-115½ •......• _ •.. . . ... Se. & No.Ala., anar.~ 116¾-116½ . ... - ... . 115),(-115¾ ... - ... . .. - .....•• - ... . - Slnk.tuud, llfl •• ... tt -·· - ..... •... - ... . . .. - .... .. .. - ... . ... - ....... . - . .. . . ... ~ - .... . ... - ... .. . l07 -107 Louis~. & .left B'are 4 .__ . 99¾- 99¾ ... ..... .. - . . - .. . 98~- 98~ • .. Mo.nbnrrnn, 1990 ·:::.4 105~-106~ 106½-107 106½-107 104½-104~ 104 -104¾ 104¾-lW½ lW¾;-lW¾ 104>(-105!14 104¾-10,i¾ L03¼-104.¾ LOS -104 1031¼-104 Real ■tered. .. lW -1w . ... - ....... - ... . - .... ... . Metropol.Elev., l•t .. 6 106¼-107 107 -107¼ 107 -107¾ 108 -108¼ 108 -108 108~-100 - ... . 106¾-106~ i 06¾-10t'~ 106¾-lOR» to6¼-1079.( Mex.Central-Conaol.4 73¾- 77 74 - 75½ 75 - 78 76¼- 79 75 - 77 75 - 79 ,7 - 79 77 - 81 79 - 82¾ bO¼- 62¼ 79½- 81~ t-0~- 81% 1 ■t con ■ ol. tnceme ... 3 23!,(- 25% 22¼- 24¾ 24 - 26½ 21½- 25 19 - 22~ 19½- 21¾ 21¼- 23~ 23 - 26¾ 24 - 25¼ 24¼- 26¼ 23½- 2d 2-i¼- 26 2d c•n•ol. lncome .... 3 16 - 17¾ 14 - 17 16 - 17½ 15¼- 16 11 - 13 11~- 13 12½- 14½ u - 18¼ 16½- 18 17¼- 20 17 - 20.!,t 19 - 20¾ Cell. tru ■t, 1907 ... 4~ 96 - 98 94¼;- 95½ 95 - 95~ .... - . . . . 95½- 96 96¾- 9'ns 97¼- 99¼ 96¾- 97½ 9i¼- 04¾ .. . - . .. 96¾- 98 Minn. & !!!It. L.-l ■ t .... 7 .... ... - .. . .... - .... 137 -137 ...• Po.ciftc Ext., 1st ... . . 6 ... . - .... 122 -122 - .... 1207(-120¼ .... - •.. . ... . - .... S.W.Ext.,l•t,1910.7 .... - .... 113!,4-113¾ .... - ....... Iowa Ext,, lat, 'UO .. , 111 -111% - ... . 108~·108¾ . .•. - .. . 111¼-111¼ ·. .. .. l11t, con., 1934, 1i •.•. ;j 117¾-117¾ .. . . 117 -117 .... - ... .. ... - .... u~-114'4 . - •.. 116¾-116¾ U3~-114¾ . ... let & ref., 1949 . . .... 4 97½- 98Yll 98 - 98 96 - 96 95½- 97 96 - 97% ll6 - 97~ 96'-(- 97½ .... - .... 96½- ll7½ 97 - 97 9ll~- 97 97 - 97 DesM.&F.D.193:i4 .... - . ....... 98 -98 .... - .. . - ... . ~7½ - 98~ 96 -96¾ 96,i-97¼ . ... - ••...... - ....... - ....... M.~t.P.& S.S.lll. ,'38.4 99 - 99 - . ... 101 ·101½ 100½-lOOh 101 -101½ 102½-102§4 lOl -101¾ 1017'-lOl¾ 101 -101¾ .. .. - .... 1027,(-102¼ lOZ½-102¼ Mo. Ko.n. & Texo.al•t, ,rold, 1990 ....... 4 10()%-101¾ 100½-101¼ 100¼-101½ 101¼-102¼ 102 -104¼ 100½·102 101!,4-102 102 -103¾ 102¼-103 LOl¾-102~ 101½ 103¼1 too -100~ 2d, Income, 1990 ..... 4 86~- 87½ 85 - 86 85 - 86 85 - 86% 84~- 86 85¾- 87 86½- 88¾ 86 - 88½ 86¾- 88 86 - 88¼ &N- 90 88¾- 90 l•t, exten., g., 1944.5 103¾-107 lOtl -107 1067(-108 106¼-108 lW -105!14 105)4-106 105½-106¾ 105¾-103¾ 106 -108Xi 107!,ji-108>(i 105½ 106~ .Od¼-107¼ St. Lou la Div., let . . 4 87 - 87 90 - 90½ 90~- 90¾ 91 - IH½ .... - . . . . 90½- 90½ 91½- 92¼ 92¾- 9i 93½- 93;):t 92 - 92¾ 92¼- 92½ 92¾- 98¾ Dall. & Waco, l•t ... 6 .... - .... ... - ... . .. - . .. .... - ........ - ....... - .... 107 -107 10tl¾ -106!J;! K. C. & P.,bt, 1990.4 9!l¾- 95 94¾- 95¾ 95 - 95 95 - 95 . . . • - ... . . ... - ... 95 - 96¾ 96¾- 97½ .... - .... 95'4- 95~ ~ti¼- 97 . . .. - •..• Mo. Kn.n.& Ok., l•t.~ 105 -106¾ 106½-108 108 -103¾ 107 -10.::l¼ 105¾-106 106 - 106¾ 106¼-107¼ 107¼-109~ 109 -100~4109¼-109¼107 -109),.j 108~109 M. K.& T.ofT., ht.ii 106¾-l<i9½ 108¼-109 106 -107¾ 106 -107¼ 106 -108 107 -108¼ 11,7 -108½ 108!1(-110 110 -110 109¾-110 10~-109 108 -100 Sher.Sh.& S.lst, au.5 .. . - ... 107½-107½ ... 106%-106¾ .... - .... . ... - •.. . ... t07½-107½ Texa ■ & Okla., ht .. ~ 104¼·1W¼ 107 -107 106½-10611, 105¾-108¾ 106 -106 105¾-106 . .. . - .... 108 -108:Ji .••• - . . . . .. - .... 108 . -108 L0~-108¾ llle.Kan.&East.-ht.~ 111 -111½ .... - .... . ... - .. . . 1127'-lll/¼ 112¼-112¼ 112)4-114 .... - •.. . 114¾-114~ 113¼-113¾ lll¾-113 114¾-115 115 -115½ Ml11■ 011.ri Paciflc3d, 1906 ......... ....... 7 105¾-106½ 106%-106¾ .••• - ... 107 -107 l031J:(-l \J4!,4 104¾ 104~ 104¾-104¾ . . .. - .. . . 105 -105 105½-106 102~-102¾ 102~-l09M l ■tcon■ol ............... ti 123 -125~ 124¾-125¾ 125 -125½ 125"·125¾ 122½·1:C:i% 121½·122% 121½-121% 122 -124½ 12!l½-124¾ t25 -125,fil22 -122¾121¾-128 Trust, aold, 191, ... . iJ 108 -110½ 109 -110¾ 106¾-107¼ 106¼-107¾ 106~..;-107¼ 107 -107¾ 107 -108¼ 108½-109 105"-106>11105)4-106~ 105½-1U5'.h! 1053,ji-106~ l•t, collo.t., c., 1920.~ 109 -110 107 -10'n1! 107¾-108!-4 108 -106¼ 107!J;(-108½ 108 -108¼ 108½-109¼ 107¾-107½ . ... - .... 107:}s-11,7¾ 107½ -lUS 107¾-107ff 40-yr. 194~, a ....... .4 .... - ........ - . ... 1:14¾- 96 95½- 96¼ 94½- 94¼ 93½- Y4¼ 93½- 9!l 92 - 94 Cent.Br'ch Ry., ht.4 97½- 98 96 - 96¾ 95¼- 97½ 95 - 95¾ 96 - 97 1:17 - 98 97!,4- 98½ 90¼:- 97¾ . ... - ... 97¼- 97~ 97l'k 97~ 97~- 97ft Leroy & C. V. A.. L .. ~ ... - .... lW¼-110 ... . - . . . . . .. - . . . . .. . • - ........ Pac. ot J.llo., l•t, ext .. 4 .... - .... 103 -104 104 -lW¼ 104¼-104)4 HH-¾-105 105 •105½ 105 -105 . ... - ..•. 103½-103~ ...• - ..•. 103'4:-103',( 1()4¼-10~ 'jd, 193~. ext ~ .. . - .... .... · ... 116½-ll~ ~, 117 <, 117 • ll~-117 ~ lIBl}(-118¾ .. · • - .... 117½-117~ 118 -119 119~-119¾llll¼-111PA!: 120 -1.20 :.:::::::-.4 .... - .... https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis - .... RAILROAD BONDS. 86 190:i-Contlnued. BONDS. JANUARY FEBR'RY. MARCH. APRIL. MAY. JUNE. JULY. AUGUST. SEPT'BER. OCTOBER. NOV'RER D F C'BER Low.High Low.High Low.High Low.High Low.High Low.High Low. Migh Low.High Low. H igh Low.High Low.HighLow.Hillh. llle. Paclflc-(Oon.)St.L.&I.M.1ren.& l.1r.:i 116¾-118 117¾-118¼ 118 -119 116¼-118 116¾-117 116 -116/)i 115¼-116% 116¼-117h. ll7¼-117!JJI 115¼-116¼ llfl -116¼ 116 -116M Stamped,auar .. ~ . .. - .. . .. ... - .. ... ... - .... ... - .. .. ... - ... . 116 -116 Unify.& ref., 19~9.4 94 - 95¾ 95¼- 96¼ 95¼- 96~ 95 - 9e¾ 94¾- 1)6 95 - 95~ 931}.(- 95¼ 93%- 941>4 94¼- 94¾ 94¼- 94¾ 94. - 95,s 94¾- 95!Jii Rlv.&G. D., lst .... 4 96¾- 98 97¼- 97¾ 95¼- 97¾ 96 - 96¾ 94' - 9!lll4 94½- 95¼ 95¼- 96 95%- 97 96¼- 97 96¾- 97¾ 94¾- 95¾ 94½- 95 Mob. & Bir.-194~ . .. . 4. . ... - . ....... - ........ - . . . 93¼- 93¼ ..•• - . ... . .. .•• - ..... .•. - .•.. 96 - 96 . .• • Mob. J . & K. C.-l ■t .. :i .... - .... 97½- 98¾ 97 - 98¾ 96¾- 98½ 95¼- 961}.f 961}.f-100¼ 97 - 99½ 98¼- 98½ 96¼- 97 .... - ..•• 97 - 98 97 - 99 Mob.& 0.-New, 1927.6 126½-127!J.( 128 -128¼ 128¾-129 128!J.(-129 128 -12ll 1251¼-125¾ .••. - •••• 129 -129 128¾-129¼ 129¾-130 129 -129 lat, Exten., 19~7 .... 6' ...• - ... .... - .. .. 122 -122 124· -124¾ .. . - .... 124¼-126 . .•• 122 -122 •Gen. mort., 1938..... 4 98 - 98 97¼- 99 97¼- 97¼ 98 - 98 96¼- 97~ . ... - .... 99 - 99¼ . . . - . . . . 98 - 98 98 - 98¼ Monta-om. Div., lst.. :i 11;5¾-115¾ 113¾-114 .... - .. . 1141}.(-114¾ . ... - •.....•. - ... . ..• - . .• . 115 -115 115 -115 115¾-115~ 115¾-115!}., . . - • . .. 92)4- 92¾ . . . . - .. . . . . . • St. L.& Cairo, col,tr.4 . .. 95 - 95 Naab.Ch,& St,L.-ht.,- 120%-121¾ 117 -121½ ...• - .... 122¼-122¼ 122¼-122½ 122 -123 120¼-121¾ 120 -120 121 -121 121½-121½ 121½-121~ 121¼-121¾ Consol.a-,, 1928 ......6 ll5%-116J,i ll6 -116 116¾-117 114¼-115 114¼-114¼ 114\4-115 .... - ... ..• - .... 116 -116 114¼-lll!),i 114 -114.,4 114¼-114¼ Ja11per Br., lat . .. ... . u 119 -119 ..•• - . ......• - ... 121 -121 - ... 120¾-120¼ 120 -120 .•• . - •.. 124 -124, Melli. M. W. & AI. ... ti .... - ... 117¼-117¼ ... - . .. . . .• - •.. . . .•• National of Mexico.Prior lien, 19~6.... 4¾ .... - ....... . - . ..... . . - .. .. 105>-s-105¼ .... 106 -106 111t, con11ol., 19~1.. 4 81½- 82½ 81¾- 83 82¼- 83¼ 80¼- 81¼ 79¾- 80½ 80 - 81½ 81¾- 82~ 82 - 8-&!14 84 - 85 83 - 84 84 - 85 84½- 85¼ N. Y. Cent' I & Hud. R.Gold, 1997 . ...... .... 3¾ 99¾-100¼ 99¾-100¾ 99¾-100½ 100 -100¾ 100 -100:J.t 100¾-100% 98¾- 99½ 99 - 99¾ 99¾-100 99¾- 911¾ 99 -100 99¾- 99% Reiristered ......... 3 J.t. 99¾-100 100 -100¼ 100¾·100¼ 100 -100 .... - . . . . 99 - 99 99¾- 99¾ v9 - 91:l 9~¾- 99½. 97¾- 98¾ Deben .• a,, 1934 ...... 4 . ... - . . . . . .. - . . . . ... - . .. . 102¾-102¾ 100¼-101 100¼-101¼ 101 -101¾ 101½-lOl'h- 101¼-102!,ii 102¼-102¾ 100 -100% tOO -lOO!J.( Reirlstered ......... .. 4 .... - ... .... . - .... 1C2 -102 ..•• Deb., a-.,'90-190~ .. . 4 ...• - .... 100:):(-100¾ ... - ... ...•• - •.. . Debt cert11., ext.,&'·· .4 - ....... . - . . . 101¼-101¼ ... - •....... Lake Shore, coll ... 3 ½ 91 - 93 90¾- 91¼ 90¾- 91¾ 91¾- 92½ 91 - 91¾ 91¾- 92 91½- 92¼ 90 - 91 90¼- 91½ 90½- 91¾ 90%- 9 l:½ 89 - 91¼ Re1rl11tered........ 3½ 90¾- 90¾ 89¼- 90 89 - 90½ 90 - 90 8914· 90½ 90 - 90½ 89 - 90% 88¾- 90 88¼- 90),4 89 - 90¼ 90 - 91 89xi- 91 Mich, Cent'l, coll..3½ 90 - 91½ 89¼- 00 89¼'- 90½ 89¼- 91 89¼- 91>5 89¼- 90!,4 91¼- 91¼ 89¾- 90¼ 90 - 90¼ 89¼- 90½ 90½- 90% fl9)4- 90 89 -90 90 -90 Redstered .. ...... ,3½ .... 89 - 89 89 - 89 89½- 89½ . ••• - .•. . 90 - 90 .••• Beech Cr'k, 1st, 1ru .. 4 .... 106½1-107½ , ... - •••. 105¾-105% .•.• - •••. 106¾-106~ •Realatered. ........ . 4 .... - ........ - . . . . ... LO! -104 Moh. & Mal., l8t .... 4 .... - ... . ... - . .. .... - .... . ... - ... .... - .... 105 -105 N. Y. &.Put,, 1st, au.4 103 -103 104 -107 106 -106 ...• - •.. . 106 -106 106 -106 West !Shore, iruar . .4 103)4-109 108¼-110 108"'-109½ 109 -109¾ 10~-l:09½ 109J4-110 107¼-109¼ 108¾-109½ H98% 109½ 109¼'-109¾ 108¼-109~ 108 -109¼ Reldstered .... ....... .4 107¼-108!,4 108 -108¾ 108¼-109 108¼-109¼ 108¼-109 107 -109½ 107¼-108¾ 108 -109 108 -109 108)4-109 107¾-108¼ 107 -108½ L,S.&M,8., a,, '97 .3~ 100~-101¼ 101 -101¼ 101 -101 100¾-100¾ 100¾-102 99,t-101¾ 100¼·100.x, ...• - .... 101¼-103 102½-103 102¼-102¼ 101) -100!1:( Re1rlstered ... ...... 3J.t .. .. - •.•. 100¼-100¾ . . . - ......•• - . . . . 99½-101¼ 99¼- 99½ ... - ... . Debenture, 19!.IS . . 4 101~102% 102¾-103J4100¾-101¾ 100¼-101 100 -101¼ 100%-101¼ 101¾-102¼ 102¾-102:14100¾-100¾ 100¾-101 10{)¾-101 100¾-101,t Det.M. & Toledo .. 7 ... 103½-103½ . .•• - ... . 102 -102 - .... .. - ........ Mahon, Coal RR... ~ ... - .... 124 -124' - ••. .. ..• - ... . 123¼-123½ ..• Mich. Cent'I, 1931 ... ;'l .... - ••. . 124 -124 - .•.. 122 -122 L22~122¾ Reirlatered ........... ~ .... - .... 120 -120 ...• - .... 119 -119 .. .. 1940 .. ........ ......... 4 .. .. • .... .... - .... 106 -106 .... l ■ t ll , 193~ ..... .. 3~ . . .. - . . . . 99 -100 100 -100 97¾- 97¾ N. Y. & Hal'lem ... . 3~ .... - . ... 105¾-105¾ .. •• - ... .. . . . - .... .. . N. Y. & North'n, 1st.~ .... - .... 118 -119½ . ... 116¼-116¼ 116 -116 R. W .& O., con., l11t.~ 119 -119 119½-119¾ .... - .... ll7½-117¼ ll7½-117~ 117M-117% 118¾-118¾ 118!4-118¼ llSl}.(-118¾ ...• Utica & Bl.Riv.,'~J.4 . ... - .... 107½-107½ .... - .... . ..• - ........ - ........ - •••. . ..• N. Y • Ch, & St. L.-l11t.4 104¾-105 105 -105% 105~106 104 -10!½ 104 -104~ 104¼-105¼ 106 -105½ 105 -10:5¾ 1051)4-106¼ lO!l¾-104¾ 104~-10!:J,a tOl -104% N. Y. O. & W .,ref.,l ■ t.4 105 -105-U 105M-106¾ 10~-104¼ 103¼-104½ 103 -104 103 -104 103%-104½ 104 -104.¾ 102¼-103 103¾-104!1,4 /03¼-10! 10~¾-104 Realatered............4 103¼-103½ ... - . ..... .. - . . . . . .. - •... 105¾-105% ..•. Nerf. & ~o.-lat, '41 .. i'l . ... - .... 111!4-lllJ.4 - .... 112 -112 .- •.. . 108~-1081)4 Nerfolk & WesternGeneral, 1931 ........ 6 133¼-133¾ ••• - ••.. - ••.. 132¾-132¾ 132½-132¼ . . • Jmpt. & Ext., 1934.. 6 ... - ... . 1291)4-129~ New Rhe.r, 1932 .... 6 .... N.& W.Ry., lat,con.4 100 -103½ 103¼-104¾ 103 -103¾ 101 -101¾ 101!4-102½ 101¾-102½ 102¼-103½ 102½-103 102!):(-103),,, 101)4-101% 101¾-102 LOl¾-102¼ Dlvla'nal, l•t llen.4 97 - 98 98)4-100 99¼- 99¼ . ... - .... 100¼-100¼ 100 -100¾ 98¾- 99½ 99 - 99 . . . 99¼-100¼ 99¼-100¼ 99~-10(% Peca~. c. & C.jolnt.4 95 - 96¾ 96¼- 97¾ 96 - 97½ 96¼ · 97~ 96¾- ll7¾ 94½- 96¼ 95½- 97¾ 96½- 98 96¼- 07½ 96½- 96!)4 l 6½- 97 91¼- 95 Cel. C. & T., l ■ t,"J2.~ .... - .... 109½-109½ ... - . .. . . .. - . . . . .. ~. Val. & N. E,, l ■ t. 4 109 -102¾ 102¼-103 l02% ·102~ 102¾-103 100 -101 101 -101¼ 102 -103 102¼-103 102¼-103½ 102¼-103 100 -101½ lUO¼-lOOl>s NoTthern Paclflc.Prlor lien, 1997 ...... 4 104'4-105% 105)4-106 105¼-106¾ 105 -105~ 105¼-105,¼ 105¾-106¼ 105¼-106¾ 105¾·106¼ 105¾-106¼ 10!½-105:k, 1031}.(-105½ 104½-105:kj R•ll•• prior l ien ..... 4 104¼-105¼ 104 -105 ... - . .. 103½-105 104 -105¼ 104!):(-105~ . ... - . .. , lOB½i-106¼ 103)4-104 104~-104!,:r, . .. - .. General lien, 2047 .. 3 76¼- 78 76¾- 77¼ 76¼- 77¼ 76)4- 77¾ 75¼- 77½ 76 - 77% 76!1:(- 78¼ 77 - 77i,,., 77 - 77¾ 77 - 78;1:t 76¼- 77% 761)4- 77¼ Redstered ........... 3 76 - 76¾ 75 - 75 74½- 74¼ 75 - 75 76 - 76 .. . . - ..... . .. - ... . .. St. Paul-Dul. Div .. 4 .... - .. .. 101 -lOl 100 -100 99¼- 99½ .... - ••. . 101½-102 101 -101 - •. . 100 -lUO¼ St. Paul & .No. Pac .. 6 12'3¾-126¾ . .• . - ... . 126 -126 125¼-125>2 - ••.. 125¼-125½ 125 -125 .•.• St.P.& Dul·., l ■ t,'31.~ .... - .... lH -114 ~d, 191 '7 . .......... .. :J .••• 108 -109 - •... 107¾-108 . •.• - . . .. 109 -109 . .•• 1 ■ t, cenHI,, 196S.. .j .... ll9¾-101 - . . . 100¼-luO¼ . ..• - •... 100 --100 - ... . 100¼-100¼ 100¼-lOOJ.2 Wa ■ h. Cent.Ry.,l11t.4 .... - .... 92½- 92½ ..•• .... - •.. . 94-94 No. Pac. Ter. Co-lst.. 6 115 -116½ . .•. - ....... - .... . ..• - ... . ..•• - ... . 116¾-116¾ . ..• - .... 114¼ ·114J.i! .••• Ohio Riv., l ■t, 1936 .. .) ... . - ... 118¾-118¾ .••. - ........ - . ... ... • •..... - ... .. ... 11~ -118 Generbl, 1937 ... , ... ~ .... - .... 113¼ 113¼ .... - .... 111)4-111¼ .... - .... 111¼-111½ ... - .... 115 -115 111 -111 112¼-112~ 112¼-lU¼ Ozark & Cher.Cent.-~ . .. . - .. .. 99¼- 99!4 100}.(-100¼ 100 -100 100¼-101¼ 101 -101 - ... 99¼-100 .. . - . . 90 - 99 Po.ciftc Coast Co,-l ■ t.i'l 113M-113:1,1114 -115¼ 114¼-115 114 -114½ .... - •.. . 112 -112 112)4-114¼ . .. - . . . lU~-115 115¼-116¼ 114¼-116 113¼-lU Panama-lat,•• f .....4),, 104 -10¼ - .... .... - .•.. 102½-108 ..• - •... . • - .... 104¼-104½ . ... - •.....• - •.• 101 -104¼ 1041)4-105¾ Pennaylvanla Oo.110¼-lll 108)4-109 108¼-108~ 108¼-109 109)4-109¼ 108¼-109¼ l08ll4-109!,t l ■ t, conaol ............ 4 !,i, 111 -111 111 -111¾ 11()%-111¼ 110¼-111 llQ¾-111 - .... 106 -106 . • .. - .. • . . . • - . • . . . .. - ... . L07¾ 107~ Real ■ tered ......... 4 ½ 106 -106 - ... .. ... - •••. 98¾- 93~ Gen.col.tr,ctts, '37.3½ .... .... - ....... . 94 - 94 93),g- 93¼ . ... - . . .. 93¼- 98¼ Gu. eel. tr. Clfs., B .. 3J.fi . ... - • • • . 94 - 94 . • • - . . • . . . • • - • • • . 94 - 94 98 - 99 . ... - ••• . 98½- 9ij¼ {18 - 98x 9 , x;- 98 Tr.Oe.ctta.,1ru.,'16.3" .... - . ... 97'U- 98 .••• 98¾- 98¾ 97 - 97 - •••. 118!Ji-118¾ . • • - • • . 119 -119 c.st.L.& P., t ■ t.'32.~ .... - ... . 111~-117¾ 117%-117% 120 -120 -........ - •••. . • . - ..•. . .•• - .. . U8½-983' Cl. & P., Serie■ C .. 3¼ .... - .... ... . - ... · .. . ... , 113 -113 . . . . . ... ... . 114¼-114¼ 112½-112½ 112¼-112x lll¾-111!1:( P.c.o.&St.L.,Sr.A4x 114¾-114¾ ..•• - ........ - ... .... . Serles B., 1942 ... 4½ 113,:t-113¾ .... - ... . 112¼-112¼ .. .. - .... 112~-112~ 113½-113½ .... - •••..••• - .... 112¾·112%111¾-113¼ 111:)4-112¼ - . . . . .•. Serles C, 194~ ... 4½ ... - ........ - .. .... . . - • . . . ll2¼ 113 . . . • - ••• . 103 -103 L03¼-103¾_ Serie ■ D, 194~..... .4 .... - ........ - ... . - .. • . 93 - 98~ 96½- 96½ . . • • - • • . . 93¾- 93% 94 - 94 l!§erle ■ E, 1949 .... 3½ .... - .... 93¾- 93¾ 93%- 98'7Ai 98¾- 93¾ 93 - 98 Penn ■7lvanta RR.Real e ■ tate, 1923 .... 4 .... - .... 106 -107 .... - .... .... - .... 109 -109 ll•6¼·107 107 -107 Conv., a-old, 1916 ...3¼ .... - ........ - .... .. .. 101¾-101¼ 101 -101¼ 101¼-102¾ 101 -102¾ 100¼· 102 "9¾-100¾ 117¼·1~ Cenv., a-old, 191~ .. 3¼ 108 -104 103!):(-106¾ 104¼-10'7 105 -105M 101!4-103 101:)(,-108~ 103~-l~ 104¾-106!):(105 -106 104¾-10o%t01¼-10391. 109 -104 ..&llea-. Vall., 194~ .. ,4 .... - .... . ... - .... 104)4-104~ .••• - •.. . Cleve. & Mar., lst.4¼ 110 -110 - ........ - ........ - .... . .•• - ........ - •.••.••• - • • . . • . . - ... . 110%-11~ . . . t:.. ti. & 1., 1.t, ext.4J.1. . ... - ....... - ........ - .... 111 -111 lll½-111½ lll¼-111~ ...• - .. .. 109"-109¾108¼-108}1. 108½-l0SM Phil, Bait. & Wa11h.4 . ... - .... 108~-108¾ . .. - •.•. 10~-106~ - ••.. 109 -109¾ .... Peo.& 1--'ekln Un.-lst.ti l.23¾-123¼ ...• .. L0~-lC)OM - ... . 103¼-lO;i¼ ..• - •••. '.Id, 19::11 .............. 4½ .... - ... .. ... Pere lUarquetteMllnt & Pere Marq . . b 122 -122 123 -123 .... - .... 119¾-1193' 120 -120~ 1213'-121~ 121M-121M •.•• - . . . . . .. - .. .. 121¼·121¼ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis .... - ...• 87 RAILROAD BONDS. 190:i-Contlnned. JANUARY Fll:BR'RT, BONDS. MARCH. APRIL, MAY. JUNE. JULY. AUGUST. BBPT'Bll:R.OOTOBJl:R. Nov'BER. DE0'Bll:B. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - ----1-----1-- Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.Htah Pere llarquette-(Con. ) 1 ■ t cons., Ir•• 1939,:i 112 -l"li .... - .... 11~113¼ 114 -114J.9 112fi-1129( 112¾-ll~M 118 -113 •••• - .... 11~114~ .... - •• 112¼-114¾ 111¾-111~ Pt. Hur. Div., 1 ■ t. ,:i .... - .... . .. - .... 11~-116½ .... - .... 114 -114~ 114 -114 •••• - ........ - ........ - ........ - ... . ... - ........ - ... . Pitt ■ , 8b. & L. E .. l ■ t.6 117½-11~ .... - .... 120 -120 .... - .... .. . - ........ - .. . 119 -121 120½-120¾ .... - .... ll~-120¼ 118¾-118¾_ 119 -119 Plttsb. Y. & "-•• t11t . .. :, .... - ........ - ... . 116 -116 .... - ... . .... - ........ Readlnrr-Gen., 199'7 .4 100-U-102¾ 102¾-108 101¾-102'9 102 -102¾ 101% -103¾ 102M-104 101¾-102¾ 102¾-103 102¾-104¼ 102¾-103¾ 102¼-103 102½-104~ Rea1stered........... 4 100 -100 .. .. - .. .. .. • • - . .. . .. .. - .. .. . .. - ... . 101¾-102½ 102¾-10~ Jer■ ey Cent. collat .. 4 99¼-100 99¾-100¾ 10031.-101 98¼- 99M 99¼- 99M 99:J.(·101 100¼-101 100¾-101¼100~-101¾ 99 -100 99~-100 99%-100¼ Pbll. & Read., eons.6 .... - .... 118¾-113¾ .... - .... 114 -114 Co ■■ol., 1911 ....... '7 .... - .... ... Cens., 1911,rerr .... 7 118 -118 .... Rle Gr. Jc.-l ■ t, '39 .. ~ .... - .... 109 -109 Rio Grande.8outh'n- .... 80-81 . . •• - ... . 78-78 - .... 76 - 76 76 - 76 1 ■t, 1940 . ..... . ...... ... 4 75 - 75 77 - 77 75~- 75~ .. • • Guaranteed, 1940 .. 4 89 - 89 - .... 10(¾-106¼ .... Rutland-l ■ t.1941..4½ ... . - • .. . 99 -100 . . . . . . .. - . . . . .. .. Oarden ■ b.&L. C-ht,4 ... {19 - 99 94 - 94½ 94 - 95 93'4- 94½ 95 - 95 94J,t- 94J,,( St.J.&G.I.-lat,'41'.4 98 - 94 94 - 94¼ 95 - 95 94 - 94 94 - 96 95!Ji- 96 St.L. & San Fran.Ry.Cla■■ B, 1906... ...... . 6 . .. . - .... 1~104¾ • •• • - .... 104M-104¾ 102 -102 103 -103 - •.. . 103¾-103:ki 101 -101¾ 101%-1019' Cla•• C, 1906 .... .... .ti 104 -104¼ 104¼-104% .... - ........ - ........ - ....... General, 1931 ........ 6 .... - .... 130 -130¾ 129!-1;-129½ .... - .. .. 131 -132 - ... . 132 -182 . ••• - .•• . 180 -132 General, 1931 ........ :, 112¼-113½ 114:M-114~ 115 -116 115 -115½ 115~-115¾ 118%-115¼ 114 -114 113 -114 113%-114½114¾-114½ •••• RR.consol.ar,, 1996.4 991'4- 99¾ 99M- 99¾ 100½-100¾ 100}.(-100¾ .... - ........ - ... . 98¼- 98½ . ... - ....... Refunctlnar, 1961 ... 4 88~- 91¾ 91 - 92J.4 90J,t- 92¼ 90 - 91¾ 89¼- 90¾ 90¾- 91 88¼- 89½ 88¼- 89¾ 88¾- 89¾ ~ - 89% 88 - 89¾ 87 - ~ s. W. Div., 1947 ... 6 .... - ........ - ........ - ... . 102 -102 101 -101 . ... - ... 102 -102 102¾-102,4 .... - ........ - ........ aJ'r 0-n11te■ , g,'08.4½ . .. - ....... - ....... - . ...... - ........ - . .. . .... - ........ - ........ - . ....... - , ........ - ... 97 - 97 95 - 95 K.C.F.S.&lU.,con.6126~-126¼ .... - ... . .... - . ....... - ... . . ... - .... 124¼-124¾125 -125 125 -125 .... - ........ - ....... K..o. Ft.S.&M., ref.4 88'4- 90¼ 89¼- 91¾ 90½- 92 88¼- 90 88~- 89 88¾- 89¾ 88¼- 89% 89¾- 90¼ 89½- 90¼ 87¾- 88½ 86~ 88 86¾· 88¼ 8t. Lou. 8. \\- .ht '89 .. 4 98)4- 99¼ 99)4-100!-s 9P -101½ 99 - 99:)4 96¼- 98),( 98 - 99 98¼- 99 9b~- 99¾ 9914-100:l,s 99¼;-100 97 - 97¼ 96 - 97~ ~d Inc., 19~9 .......... 4 84½- 85 84 - 86 86¾- 86¼ 86¼- 87¼ 86 - 87½ 85¾- 85¼ 84¼- 8!½ 84)4- 84),( 84 - 86~ 87¼- 87½ 86 - 86½ 86¼- 86¼ 81¼- 82 82 - 84 83 - 84¾ 83 - 84 81 - 88¾ 79¼- 81¼ 113 113 .... - ........ - ... 107%-108 108 -108 108~-108¼ 138,4-138~ 138)4-138¾139 -139 139}4-140 139¾-139¾ 139~-139¼ lll¼ -111½ .. - ........ - . . .. 113111-115 113~-113;1:t U3%-113% - .... 111¾·111¾ 111¼-111¾ lll½-112 .... - ........ - .... 104 -l0!i 104),(-10!¾ 104 -lO!i½ lOf¼-105¼ 104¼-105)4 102%-103 108½-103~ .... - . ...... . - .... 104~-104-¼ 10!:Jt-104¾ 102¾-102¾ .... - ... . .... - ... . - ........ ............ . Mont,Cen.,l ■ t,1931 , ti 135 -135 .... - ........ - .... 136¼-136X? .... - .. . .... - ........ - ... . l ■t, suar., 1937 .... G .••• - •••. 11~11~ .... - . . • ••• - •.. 120 -120 .•• . - .. . 11~-120 Wlll,AS.F., l ■t,'38.6 .... - ........ - ........ - ... . .... .... .... - .... l21½-121X? . ... 8. Fe Pre ■ • & Plle ..... G .... - ........ - .... . ... - ........ - .... .... - .... 109¾-109¾ Sanll'r.& M.P., l•t .. a .... - ........ - .... 108 -108 .... - ... 110 -110 l!leaboard Air Llne .... 4 89¼- 89 91 - 92 90 - 1n~ 85¼- 88>-i 85 - 86 86 - 89¾ 89J.t- 90 90 - 91 90 - 91% 89¼- 90 89¼- 90 88¼- 897'§ Cellat. tru ■t, 1911 .. 6 108~-104¼ 1()4¼-104~ 104 -104¾ 104 -104¾ 102 -102~ 1023'-103¾ 108¼-104¼ 104 -105 104 -105 104M-10i> 102}.(-102¾ 102¼-l0ZM Atl.-Blrm., l•t ...... 4 ... - ... . .... - . ... .... - .... · .. · 95M- 9~ Car. Cent., l ■t, '49,4 .. .. - ... . .... - .... .... - ........ - .... 98¼- 98.11, 98¼- 98½ ... Fla. C. & Pen., '43 .. G .... - . ... 109 -109 109¼-109}{. .... - ........ Ga. & Ala., ht, coa.0 109¾-llSJ.4 113¼-114 112¼-112½ lll¾-112!,4 lll¼-112 ll~-112½ ... - ... . lll¼-113 .... - •••. 112¼-112~ .... Ga.Car.& N.,1.,... u.~ 110 -110 .... - ... - ........ - ....... - ... . .... - ....... - •••.•••• - ........ Carolina Cent., con.4 .... 98 - 98 95 - 98¾ ••• - ... . .... - ........ - ....... - ........ - Consol., rrold, 193~ .. 4 80¼- 83 82 - 83 82~- 83¾ 82¼- 84¼ 82¼- 83½ 80¾- 82 tilt. P. M. & M. -~d .. .. 6 110¼-111 .... . - . ... . ... - ........ - ... . 108¾-108}fi .... - . . . l ■t, con■ ol., 1933 ... . 6 ... - ... . 137 -137 187 -138 186 -187 .... - .... 139 -189 Reduced to ......... 4½ 112 -112¼ 111}.(-Hl}.( 111 -111% .. . - ... 111'4-111¾ 113½-113¾ Dakota Exten ■lon .... 6 112¾-112¾ 112¾-112¾ 112¼-112~ 112¾-112¾ 110¼-110¼ .... Mont.Ext.,1•t,193'7.4 108½-104 104 -104¾ 103¼-1041}.( 104¾-105 .... - .... 103 -103¾ Re11l•terect ..... ... .. 4 .... - . .. . . .. - .. . ••.. E. M. l ■ t div., l ■ t .. .. :) .... - .... 104¼-104¾ .... - ........ Minn. Union. l ■t ..... 6 .... - .... .... - .... 128 -123 124 -124 .... - Southern Pacific Co.l ■t, retund., 19:i:i .... 4 . . .. 97%-- 97¼ 96%- 97'.fii 97 - 98~ 96¾- 98 96¼- 97¾ 95¼- 96¾ 96¼- 97¼ 96M- 9~¼ 96¼- 97~ 96%- 97¾ 96¼- 97¾ Rerri ■ tered. ........ 4 .... - . ... . .. 97 - 97¼ li•:i-year, 190a . .... 4¾ 101 -101¾ 101¼-101¾ 101}.(-101½ 101¼-101¾ 101"-102 .••• - ... . .... - ........ - ... . .... - ... .. ... Collat. trust, 1949 .. 4 95 - 977,( 96 - 9tl¾ 95¼- 96 95 - 95¼ 94'4- 95~ 92!,(- 93¾ 93 - 94~ 94¼- 95¾ 95¼- 96½ 95 - 93 95¼- 96 93¾- 94¼ Realstered .. ........ .4 .. . . - . . .. .. . - .. . . . .. - .. . . 91 - 91 94 - 94 . • • • - ... .. .. - .. .. .. .. - . .. . . .. • A.a. ■ tln & N. W ., l•t.6 1013¼-111¾ 1093,ti-109!1, •••• - ... . .... - .... 104 -111 .... - ... \ ... - .. . ... Ven, Pac., l ■ t, ret.ar .4 102}.(-104 lQOM-101¾ 10~-101¼ 101 -101¾ 101 -101¾ 101!,4-101¼ 101¾-l0Z!I( 100¾ 10~ 100¼-102 101 -102 lOOM-101¼ 101 -101¾ Mert., rru., s.,'!19.3½ 88¾- 88¾ 89 - 89¼ 89 - 8,¾ 89 - 89¼ 89¼- 90 87¼- 88¼ 88 - 89 88¾- 89¼ 89 - 89¼ 89 - SJ½ 89 - 89¼ 87¾- 87'4 Throuarh St,L.,l ■ t.4 .... - . .. . ... - ... . .... - ........ - .. .. 99 - 99¾ 101½·102 .... G.H.& e.A.,l ■ t,'10.ti 110¼-110¾ 108¾-108¼ 108¼-108¼ .... - ... . 107¾-107¾ M. & P. Div., l ■ t .. 6 .... - .... 118¼-llo . ... - . . . .. .. - • .. • .. • • - •••. 113 -115 111 -111 110 -110 Gila Val. G.&N.,l ■t.~ .... - ........ - .... 109 -l0UXi 110 -110 - ••• . 107¼-107¼ .... H.E.& W.Tex., l•t . .-i, 105¼-105¼ 107!4-107¼ .... - . .. . Hou ■ .& Tex.C., l ■ t.:i 110%-111¼ llll,t-111¼ 111¼-111½ 111¼-112 111 -112 112 -112¾ . . . - .... lll}.(-111!,4111 -111¾112 -113 .... t.ons. ar,, 191 ~ ...... 6 .... - ........ - ... . . .. . - . . ..... - ....... - •••. 112½-112¼ 110¾-110½ 110¾-111~ 111 -111 General, rr., 19~1 .. 4 85¼- 95¼ 97}.(- 98!,( 98¼-100 99 -100 99¼-100 9931;-100¾ 100 -100 •••• - •••. 100 -100)4 96 - 99¼ 98~-99:k, 98¼- 99¼ Ore. & Cal., l ■ t.,11u.:i .... - ....... - ... . .... .... - .... 101 -101 104¼-10!3,ti .••• - ........ - .... 103¾-103% .... - .. : . •••• - .••• 8an An. & Ar. PaH.4 88 - 91¼ 90¾- 91½ 90½- 91Xa 89 - 90¼ 89 - 90 89¾- 90 88 - 89 88:!4- 89 88¾- 89~ 88¾- 80¾ 89¼- W:!4 88M- 90 8e.Pac.,Arlz.1909... 6 106 -1083,s .... - .... 108¾·106~ .... - .... 107~-lOi~.... 1 ■ t, 1910 ............ ti 1093-s-1~ •••• - ........ @o. Pac. Cal., 100:i .. 6 .... - ~ ....... - ........ - ........ - ........ - .... 103 -103 .... l ■ t,191~,E&ll'... b ... - ....... . - .... 115-115 .... - ........ - ........ - ........ - ... . 112¾-112¼.... l•t, 191:1-............ ti .... - .... 114¼ 114¼ •.•• - ........ - ...... .. - ... . ... - ........ l ■ t,cen.•tp.'0a-3'7 .6 1083'-108¼ 109¾-l0J¼ 100!>(-109'k! 109¾-109¾ . • .. - .... 1Q8¼-108!,4 1()8¾-l0Sff • • • • 8. Pac., N.Mex., l ■t.ti 108 -108 109¾-101!.x, .... - ........ - -~::r: - T.&N.O.,8ab. D.,l ■ t.6 .... - . . .. 112 -112¼ .... - . ..... - ... . .... Oon ■ ol., arold,1943.G . . .. - . . . .. .. - .. . 108¼-108¼ .. • • - .. .. .. • • - - .... 111 -111 .. . • - - .... 110¼-110½111 -111 - .. • • • .. • - • .. . . . .. - SouthernI 1•t, cen ■ ol., 1994 .... :i ll~-120J.4 119¾-120 119~-119¾ 118¾-120 118:U-120 119%-121¼ 118 -119 118¾-120.l-R 12(%-121½ 120½-121¾119%-121 120 -12~· M.. & o. col. tr., '38,4 96-U- 98¼ ~ - 99 Ytl¼- 97¼ 96¾- 97¼ 9734- 11:i½ 97 - 1-!8½ 99 -101 l0Q¾-102 99¼- 9~ 98~- 99 "7'4- ~ 97* e8II lllem11. Div,. l ■ t.4H-a ... - .... .... - ... . .... - .... 118 -118 - .... 118'& ·118¾ ... - .... 118 -118 .... - ... ... .. - •••••••• - . . ... - •••~ St. Louis Div,, l ■t ...4 98 - 98¼ 98¾- 99 99 -100 98 - 993' 09),.(- 99¾ lOOJ,,(-100¾ 97¼- 98¼ 99¼-100 99¼- 99½ 99~-101 '1 ~ - l ~ lCIOU-IOlfi; Ala. Cent., lst ........ ti .... - ........ - .... 11~-117½ .... - . . .. •• - .... 118 -1113 .... Atl. & llan., l ■t,'48.4 95¼- 96¼ .... - .. .. 98¼- 98½ .... - ....... - .. . ... - ........ Col. & Greenv., l•t.. ti .... - ... . . .'. - . . . - .... 116¼-116½ .... .E.'I'. Va.& Ga., Div.. :, .... - .... 114 -114 114}.(-114¾ 114 -114 116 -116 .... - .... 115¼-115¼ .... Con ■ol., ht, .......... a 121¼-122 121¾-12.l 121¾-121¼ 122 -122¼ 119¼-li0½ 120 -120¼ 120½-120¼ 120½-120¼ .... - .... 121¼-122 118¾-ll~ 118 -119 B.Tenn.reor11.llen.. :i114¼-114¾116 -116 114 -114 .... - .... 118!,{j-ll3J.vll5¼-115¼115 -115 .... Ga, Pac., ht, rrold ... 6 123¼-123~ 123%-123¾ 124¼-124¾ 124¾-124¾ 125 -125 124%-125 121%-121¼ .... - .... 124J.4-124¾ 124¾-124¼ 12!¾-12~ .... ·- •••• Knox. & O., 1st, rr... 6 123¼-123¾ 126¾-126¼ .... - .... 127 -127 .... - .... 126l¼-126¾ .... - ........ Rieb. &Dan., con.,11.ti 115¾-115¾ ••• . - ••• . 116¼-116¼ 116¼-118 116:ij-116¾ 116%-116¼ ll!l¾-114¾ .... - ... . 116J,,(-116J.( ll4¾-114}d 115¾-115~ Deben., •tamped .... :, 112 -112¾ .... - • .. - .... 114 -114 .... - ........ - . ...... - •••• Rich. & Meck., l•t .. 4- .... - .. .. 96¼- 98 So. Car. & Ga., l ■ t .. :i 108 -109" 109¼-111 110 -110¾ 109¾-109¾ 108 -108¼ .... - .... 110 -110 109¾-109½ .. .. Va. Mid., ■ er. E,'26.6 114 -114 .... - ... . 114¼ ·114¼ ..•• - ....... . - . .. . .. •• - ...-. • .. • - .... 113 -113 8erie ■ F, 1931 ...... G .... - ... . .... - .... 112,ii-112½ 113 -113 .... , - ........ - .... us -118 .... - .... 115¾-117 . : .. - •••• General, 193ti ...... :i 115Jt-115¼ 116 -116¾ ll5¾-117 117 -117 114¼-114¼ lU¼-lU¾ .••• - .. .. 114¼-114¼ . ... - ....... - ••• . 114M-114l¼ . ... - .: •• Stamped, aaar .... G .... - ........ - . .. . .... - . .. . 114¼-114½ .... ·• • · ... Wask.O.& We ■,lst.4 .... - ... . .... - ... . .... - ... . 97 - 97 97~- 971}.( .... ........ - ....... W. ~. Car., lat, cen.ti 115~-115!4 115¼-ll.5¼ 116¼-116¼ .... . . . - .. . 115 -115 .. .. - .... 115 -115 .. .. - .... 115~-11 115¼'-11~ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I =:::: ioii¾=1ii .. ios~=1cis~.. io7½:1os3' - ........ - ........ - ......... - ... . - ... . RAILROAD AND MISCELLANEOUS BONDS. 88 1906-Continued. tJONDfi'. JANUARY FEBR'RY. MARCH. - - - - - - - - - - - 1 - - - - - 1 - - - - - --- APRIL, MAY. JUNE. JULY. AUGUST. 8EPT'BER, OCTOBER. N0V'BER. DE0'BE&. - - - - - - - - - - - - - - - - - - - -·1 - - - - l f - - - - l · - - - - l - - · - - Term'l AH'n ot ~t. L.- Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.Hil!h Low.Hil!h Low.High 1st, 1930 ............. 4x .... - ... .... - .... 112½-112½ 111¼-111¼ ..•• - .... ... . - ..... . .. - .... . .• - ....... - ....... - ........ - .. .... .. - ... . l11t, con sol., 1944 .... 5 122 -122 ..•• - . . .. 121 -121 121 -121 .... - ..•. 122 -122¼ 122~-122!1:( .... - ....... - .... 121½-122¼ 122 -122¼ 122 -122 Gen. ref., 1053 ..... 4~ 98¾-100 100¼-100¾ 100 -100¼ 101 -101¾ 101 -101 .... - . . . . 99½- 99¼ 100 -100 lOO!J;t-1001}.( 101 -101½ 100¾-100¾ .. .. - ... . Tex. & Pac., ht, geld.5 120!,(-121¼ 121 -123 122 -123¼ 122½-123;!4 128 -128¾ 121 -121¼ 121%-123 122¼-124' 124 -125¼ 125 -125½ l24¾-125¾. ... - .. . . 'Id, g., Inc., 2000 .. .. . 5 95 - 97 97 -102 94 - 97 94 - 94 98¾- 94 94 - 96½ .... - . . . . 95 - 97 .... - ... . 96½- 99¼ 100 -100 .... - ... . La. Div. B. L., 1st ... 5 .... - ........ - ... . .... - .... lll¾-111~ .... - ........ - .... 106½-106½ 106½-106¼ .... - . .... .. - . ....... - ... 111¼-112~ Toi. & O. C.-lst, '35.5 114½-114½ ..•. ll~-115¼ .... - ........ - .•. . 1153(-116¾ .... - .. .. . •. - . ...... - .... 115 -116 ll&¾-116¼ 116 -118 General, gold, 193:J.5 ... . - ........ - ........ - ... . 110½-112 ... - ... . .... - . . 110 -110 107½-107¾ 109¾-109¾ .... - . .. . . . . - ..... .. - ... . Kan.& M.,lst,gn.,(r.4 96¾- 96¾ 98¼- 98¾ 96½- 98½ 95%- 97½ 96¼- 96¼ 95¼- 96¼ 9'™- 97¼ 97¾- 97¾ 98¼- 99~ 97¼- 98½ 08 - 98½ 98 - 118!,( Toi. Peo. & w.-ht ... 4 91 - 94 .... - ... . 92¾- 95 94¼- 95 94,-(- 94¼ 94¼- 04¼ 92¼- 93 [ 93 - 93 .... - .... 03 - 93 - ... . ... - ...• Toi. St. L. & Weet .. 3¼ 80¼- 90¾ 00 - 01¼ 0~- 90½ 00¾- 91~ 90%- 91~ .... - ... . 91 - 91¾ 01¼- 92 013(- 91¾ 91¼- 02 91½- 91~ IH~- 91¼ ~0-year, e-., 1025 .. .4 83¾- 84¼ 83¼- 85 85 - 86% 83¾- 85¼ 83 - 84¼ s.ql,(- 84¼ 85 - 86 85 - 86M 86),,{- 87 83%- 85 83 - 84½ 81¼- 84 Tor. Ham. & » .-ht. 4 .... - ........ - ... . 97¼- 97¾ 98¼- 98¾ 9~- 98¼ 97 - 97 98 - OS - •... 98¼- 0 ¼ 99 Oil½ 99¼- 99¼ . .. - ..• 018. & Del.-ht, con .. 5 .... - ........ - .... 112 -112% 113 -113 .... - .. .. llQ¾-110¾ ..•• - •. . . .•. - ........ - •... 112¼-112!41129(-112¾ . .. - .. . . 111,, re1und., 19~1'8 ... ,a 95¼- 95¼ .... - ........ - . .. . . .. - .. . .. .. - ........ - ........ - •••. .. . - . .. . 06¼- 06~ .. .. - ........ - . .. . ... - ... . Union Paclfic-194'7 .. 4 104¾-105¾ 105¼-106¼ 105¾-107¼ 105¼-108½ 105½-106% 106 -107¼ 105 -106 105~-106½105¼-106¼105 -105}:(lOi'.i,~-lOb¾ 105¾-106¾ Retrlstered .... .... . . . 4 103½-10~.! 104 -105!ll 104½-105 104¼-104½ 104¾-106 106 -106¼ 105¾-105¾ . •. - .... 104¾-105% 10!½-104½ 104¼-105 103½-105½ l•t lien, conv ., 1911.4 1127A-122½ 120¾-138i,; 1 ~· 137¾ 120 -188½ 115 -12! 119¾-128¾ 127 -131¼ 12~-187¾ 181¼-135¾ 133,i!-136-U 129 -137½ 131¾-150½ Re111Btered ........... 4 116%-121¼ 121 -121~ .... - .... 137¾-137¾ . . - ........ - .. .. .. - .... . .. . - ... . .... - ... . . . - . . . .. - . . . . . .. Or. RR. & Nav.,con.4 102¾-103½ 102%-103¾ 102½-103¾ 102¼-103~ 102~-104 102 -102!c 102½-103¾ 103 -108'-t 102¾-1031)1. 102¼-103¾102¾-103)4100¼-101 Or. Short Line, lat .. 6 126¾-127½ 124½-126 124 -125½ 124½-125% 125¾-125~ 125½ 126 126 -127 123¾-124¼ t2i -125½ l.25¼-125!,4125¾-126 l :.'~-125½ Or. S. Line,let, cons.15 117¼-118½ 118¾-110¼ 119¼-120 119¼-120 119 -119¾ 110!,t-119½ 117½-117½ 117¼-117;14118¼-118¾ US¼-119~ 119½-119¾ 110¾-120¼ 4s & par tlcipatln(r .. 104¼-104¾ ... - . . . . ... - ... . . ... - .. . . . . _ ....... . _ .... . . .. _ .... .... _ _.. . .. _ . ...... _ .. .. . . _ ........ _ ...• Guar.refund.1929.4 97¾- 98 97¾- 98 97¾- in~ 97:x;- 971}; 97¾- 98¼ Q5¼- 96¼ 96 - 96:1,,t 96¾· 97¾ 96~- 97 913¼- 07!,( 96¾- 97¾ 05¾- 96¾ Re11lstered ... ....... . 4 .... - ..... .. - .. . . ... - . . . .. .. - . . . .. .. - ... . .... - . . . . . .. - ........ - .. . . .. . - .. .. . . . - . ..... .. - .... 96 - 06¼ Vandalia, con sol., 11•• •4 .... - ... .. .. - ... . .. - ..... .. - . . . . 10,1¼-104¾ 104¼-104¾ . ..• - .... 103½-103¾ .... - . . . . ... - .... .... - ....... - .. . Vera Oruz&l"ac.lst.4½ . ... - . . . .... - ....... - ... . ... - ..... ... - ... .... . - ........ - ........ - ... . . - . . . . 101¾ 101¼ 101¾-101¾ - . .. . Va. & S. W .-l11t, au .. a 107,t-108 109 -10;) 110 -110 .... - .. . . . ... • .. .. - . . . 112½-112½ .... - .... 112½-112¼. 112½ 112½ 112 -112 110½-110½ Wabash-1st, g.1939.a 11~-119 118¼-119½ 1187<(-119½ 118)4-119½ 116 -117¾ 117 -117¾ 117%-118¼ 118 - 118¾ 118 -118~~ 118%-11?½ 115 -119 114~-116 2d mort.,gold, 1939.~ 111 -112½ 109½-110¼ 108½-109½ 107¼-109½ 107 -108¼ 108½-100¼ 100¼ 110 107 -107¼107 -107½ t06¼ ·107l,ii lOil¾-108¾106¼·1073( Deben,lnc., 1939, A.6 .... .. . 90 - 90 .. - .. ..... - .. . . . .. - .... - ........ - ....... .. 90½- 91 . .. . - ... . .. - . . .. . ... - ... . Deb. inc., 1930, B .... ti 66½- 60½ 68 - 71¾ 69%- 84¾ 74 - 82 70 - 76¼ 72 - 74¾ 68¼- 78)-4 70 - 78!1-.( 70!,t- 78% 71¼-7 6¾ 72½- 77~ 73¾- 77 let lien equipment ... ~ .... - . . . . ... - . .. . .. - . . .. .. - .. . . 102 -102 102 -108 .... - .... 108 -108 .... - .... . .. . - ........ - .. . . 102 -102 1st lien terminal .. .. . 4 .... - ........ - . . .. .. . - . . . . 02 - 02 .. .. - ... .. ... - ..•..... .....• - . . . . . .. - .... .... - ... . .... - . . . . . ... D . & Cb. Ext., 1940.5 1099(-110 .... - ... . 110¾-110¼ .... I 11 -111 ..•.•... . 111 -112 111 - 111 . •.. - .... 110¾-110¾ . ... - . ....... - •. .. Omaha Div., 1941.3½ 86 - 88¼ 83 - 88 88¾- 88),,t 88 - 88 . .. - .•• ..... - ........ - ..... . .• - ......•• - ........ - ....... - . .. 87½- 87¾ Toi. & Chic. Div .... .4 97½- 98¼ .... - . .. .. .. - .... .. .. - .. . - ........ - .... . ... - .. . . . ... - .. ..... - . ...... . _ . . . - .. . . . - . ..• Wn.b.nPitta. Ter.-l ■t.4 . ... - .... 95¼- 95¾ 93¾- 95½ 94 - 95¼ 87¾- 90¾ 00¾- 91¼ 86½- 90¼ 87¾- 90!14 90 - 91 88!,r 90 88 - 00 86 - 88 2d, aeld, 1954 ... .... ,4 .... - .. 42¾- 45J11 42 - 45¾ 38J,i- 48 85 - 40¾ 87¾- H¾ 87½- 40¼ 87~- 89% 36¼- 38¼ 35¼- 37¾ 31½- 3t5 31 - 35¾ We11t. Maryland-ht.4 00¾- 93½ 91¾- 93¾ 92 - 94 89½- 91¼ 87¾- 89% 88 - 80¾ 88 - 89¼ 87~- 89~ 89¼- 9'J 871,4- 88 87 - 58 86 - Bi¼ Gen.&conv.g,195:J.'I .... - ... . .... - .. .. ... - . . ... ... - ... . .... - ... . .. - . ....... - . ....... - . . .. .. .. .. - ... 68½- 68¾ 65 - 68½ W.JS.l'.&P.-lst.'37 .:i .. - ... US -118½ .. . - . . .. 119 -110:: - .. . 110¼-119¼ .... - .... . ... - .. .. . ... - .. .. . ... - .. . . 118¾-118~ 11 J - 110 General, 1943 ........ 4 98¼- E-8¼ 08¾- g394 98¾- 98¾ 97 - 97,!4 96¾- gaM 97½- 98).6 .... - . ... 07¾- 99 98:Jt- 99!,t 96¾- 96¾ 06!4- 9d¾ 06%- l/6¼ W.Va.C'.&P.-l ■t,'11.ti .... - .... 111 -111 111 -111¼ 112 -U2 112 -112 .. - ... ..• .• - .... 110 -110 .. - . . . . .. - ........ - .. . Wheel.& L.E.-ln ... . ~ 114!,(-114¾ .... - .•.. lU¾-114¾ .... - .. . .... - ....•..• - ••• . ••• - .... . .. - . ... US - 116¼ ..• - ...... . - .. . . . - ..•• Wheel. Div., lat ...... :, .... - .. . . ... - . . . . ... - ... . . . . - .... 114½-114¼ ..•. - .. . . ... - ........ - ... . . ... - ....... - ........ - .. ... . . - .. . Ext & lmpt., 1930.. ~ 114%-11~ 113 -114 114}.!-114½ ... . - ... .. ... - •... .• •• - .•. . ...• - .... 111½-llll,i .... - ... . .... - ..... ... - .... .. - .••• flO-yr. equip .. 19~2.. 5 102 -102 .... - . .. .... . .. . - •.. . ... - ........ - .... . .• - .... .. .. - ....... - .. .. 102¾ 10~ - ..•• ~ htcun,, 1949 ........ . 4 98 - ti5¾ 94¾- 95 92 - 92h 02M- 95 93¼- 94~ 931-fi- 04M 92½- 94¼ 02¼- 93'1 00¾- 91½ 00½- !'13 90½ · 91~ 91 - 92½ Wlscon. Cen. Co.-1 ■ t.4 90½- 04 03¾- 94¾ 93¼- 94¾ 03½· 94¾ 93½- 114% 04.~- 96 94 - 94½ 93¼- 95" 947<(- 95¾ 9534;- 97¼ 95 - 98¾ 94¾· 96 STREET RAILWAY. B'klyn Rap Tr.-'415 .. :) 108¼-110½ 110 -112h 111¾-112¾ 100 -109 108¾-109 108!,.t-100 109½-110 109}(-110)4110½-112 109½-110 100 -110½ 1077A 108 ht, conv., !-100~ . ..... 4 83¼- 85 82¾- 86½ 85¾- 87 86¾- 89% !:l6 - 88)c 8~- 01)4 88%- 90)4 88¼- 93\¾; 01¾- 94~ 9:l¼- 06~ 92%-102¼ fi8 -101¼ B'klyn (.;., 1st, con ■.•5 ... - .... . .. .... - ........ - .. 103¾ 108¾ ... - .... . ... - ....... - ... . ... - . .. . .. . - .... 107 -107¼ ... .. B.Q.C. & ~ ., con. a-u.15 106 -106 106 -106 . ... - . . .. . .. - ... . •••• - ........ - . ... .. - .... . ... - ....... - ..... .• - .... . .. - .. .. !C'S -1 03 B'klyn Un. EI.,l ■ t.4•:i 110¾-113¼ 1103(-111% 110 -111 109!,(-111 109½-llOM 1101'-110~ llQ¼-111½ 108¾-109½ 108~-109~ 103 -110 103 -111 llll¼: 111¼ Stamped aunr . .4-5 .... - .... . . .. - .... .. .. - .... .. .. - .. . .. . - ... .. ... - . .. .. .. - . .... ... - ... ..... - . . . . .. - ... lll -111 111 -111 Kings Co. Elev., l11t .4 92¾- 93½ ... . - . . . 02 - 92¼ 92 - 92 92½- 93 03 - 93 .... - . . ...... - ........ - ... . . .. - . .. . . . • - .... 96¼- 96½ Sta.roped gun.r . . ... 4 92¾- 06¼ 92¾- 95 92!4- 93¾ 91½- 92¾ 91½- 94 93 - 94 93Jf- 05 01¼- 94 93 - 95 93¼- 95 94.l}s- 97 05 - 9i Nassau Elec., a-uar .. 4 87 - 91 89 - 90¾ 88 - 89¾ 87¾- 88Xi 87¾- 88 87!1:(- 89½ 87 - 87~ 87 - 89½ 89 - 89 88¾- 90 88½- 90 89 - 91 Conn.Ry.& Lt.-ht.4J,. 98 - 98 99¼- 90¼ ...• - .... 100¾-100¾ ... - .... 101¼-lOll,i 101½-101¼ .... - ... 10S}.(-1G3J.4 .... - . . .. - . . .... - ... . Stamped guar . . . .. . 4 ~ .... - ... . .... - ........ - . ... 100¼-100½ .... - . ... 101~-108½ 101½-101½ 102¼-102~ 1023,:(-102~ 102J,i-103 t02¾-102"1 ... - ... . Deu·oit United-ht .. 4½ .... - ........ - ... . 95¾- 95¾ . . .. - .• .. 95 - 96¼ 95 - 96 94~- 96 94¼- 96 94¼- 95 94¼- 95,lt 95¼ - 96¼ 00}.(- 96}.( Ha.Tann. .Elec.-195~ .. 5 .... - ........ - ....... - .... 94 - 95 02¼- 04 92¾- 93 92½- 95 04¼- 9!½ 93¼- 98~ IH,¼- 94),f, 04½- 05¾ 9!½- 95~ Metrup. St . Ry ,, a-en .~ 117½-120¾ 116 -116¾ 114½-116½ 115 -116¼ 114 -115 114¾-116 116 -117 114 -115 lU -115 114¾-116 114 -114¼114 -lt5¼ Refundin(r, 200~... .. 4 90½- 94 03 - 94¾ 93 - 93½ 90 - 91¼ go - 90" 90 - 91¼ 90¾- 913( 01 - 91¾ 91¼- 92'½ 80 - 90¼ 89 - 89~ 89 - 92 B'y & 7th Av.,19113.:'J 117~-117>2 118 -118 118¼-119 119¼-119½ 119:l,t-llg¾ 116!>4-ll~ 116½-1113¼ ..•. - .... . ... - ... 118¼-118½ 118~-118¼ .. - ...• Col, & 9th Av., 1 ■ t .. O 121 -121 121¾-121!1( 118%-120½ 121 -121 120½-120½ ... . - •••. 120 -120 ... - ... . .... - .... 119 -119 ... - .. ..... - ... . Lex. Av. & Pav. F .. l) 119 -120¼ 120½-120¾ 117 -120¼ .... .... - .... 120 -120 .... - . . ..... - ........ - ... 118¼-118~ us -118 117¾-117!11 3d A-.., lst,au,,2000.4 04¼- 06 95 - 96½ 96 - 07¼ 95¼- 96¼ 95~ 96¼ 95½- 97½ 95!4- 96¾ 05 - 96¼ 95 - 95x 04¼- 05¼ 94¼- 95¼ 93½- 97 l ■ t, 1931 .. .......... .. O 116¼-118 118¼-118¾ 118!ki-ll8½ ll~-118¼ .••• - .••..••• - •... .• .• - •...... .. .. ... - .. . . 118 -118 t19 -110 ... - .•.. Met. W. S. EI. (Ch.) ... 4 90 - 96 95 - 95 . .. • - . ...... . - ........ - ....... - ... .... - •......• - ... 94¼- P4>t> 04 - 94. . .. - ... . .. - ... . St.PaulC.Callle,con ■ .5 .... - ... . ... . - ... . ... - ... . . . . - ... .... - .. ...... - ... ..... - ........ - ... . . ... - .. . . .... - . . . . ll4J,i-ll!ll,i ... . - ...• Underar'nd El. Rye. of London proflit•11h'lr••~ ~ - 90),,t 90 - 90¼ 99¼-100¾ 99½-100 W -100½ 97¾- 9SJ,i 98¼- 98¾ 98¾- W 08-¼- 08~ 08¾- 91l¾ 98¾- 09,d 06 - 97 Un.Elev.(Chic.)lst,a-.5 . . . - . ...... - ... . . .. . - ... . .... - ........ - ........ - .... 106~-10~ ... - ... . . .. - .. ... .• - ... ... . - .... ... . - ... . United Rys.,St .Loui ■.4 85¼- 86% 86 - 88¾ 88%- 89 89 - 89¾ 89 - 80½ . ... - . . . 87¼- 87½ 87~- 87¼ 87 - 87¼ 87 - 87 87¾- 87% Si"H- 89 United RRs., San Fr.. 4 87¼- 89 88 - 90 80 - 91 88¾- 80X? 88 - 88½ 87:¼- 90 Sil½- 91 90% - 01½ 91~- 02!4 88¼- 00¼ 87¾- 89¾ 87 -88¾ GAS AND ELECTRIC, Brooklyn U. Ga■-lst ~ 116%-117 116¼ ·116¼ 116¼-116¾ 116¾-118 113 -116 113 -lU 113 -114 114 -115 lU -114¾ 114½-114¼ 112%-113¼ 113 -113 Buffalo Ga11-l ■ t. ....... ~ .... - .. . . 70 - 70 72 - 73 66 - 09 68 - 68 68~- 69 .... - . ... 72½- 76½ 77 - 80 77½- 87 80¼- 83,t 79 - 83 Consol. Ga■ (N. Y.)Conv. deb. 1909 ...... 6 174!,(-178 178 -185¾ 182 -187¼ 177 -182 169 -176~ 169 -175 171 -178 172¼-175 168 -172 168 -174¼ 166½·170¼ 165 -17('~ Det. City Gaa, 1923 ... ~ 100 -101¼ 100¾-102½ 101¼- 102½ 101¾-101¾ 101½-103 102!1:(-103½ 9ij½-101 ... - ... . 102 -103 101¼-103 103 -104 104' -106 Detroit Ga■, 1918 .. ... ~ .... - ... . ... - . . . . ... - ........ - .... . ... - . .. ... .. - ........ - ... . .... - .... 105 -105 .... - . . . .. . - . .. . . •• - ••. Gen. Elec.-Deb., g ... 3.\.t 91 - 91~ 90¼- 90¾ 80¼- 89¾ 89¼- 89½ 92½- 92½ 01 - 91 ...• - ........ - .... 91 - Pl 91¾- 91½ .... - . .. 90¾- 90!!( Bud. Co.Gas-let,'49.~ .... - .... 109½-109½ .•. - •......• - ........ - . ....... - ........ - ... . .... - •.. . .••. - ........ - .. . .... - ........ - •.•• K. C, (Mo,) Gas.-lat .. 5 .... - ........ - ........ - ........ - .... 100 -100 .... - .......• - ........ - •....... - ........ - ........ - .... . .. - .••• Kin(rs Uo,EI.L,&PowPurchaee moaey ..... 6 125 -127 126¼-127 126)4-127 .••. - ... 124¼-124¾ 128 -128 .... - .... 122¾,-124 124' ·124' 122¾-122¼ 122%-122¼ l22¾-1221)4 Ed. EI. Ill. (B'klyn).4 .. .. - ........ - .... . .. - . . 94¼- 94½ . ... - ........ - ....... - .. . ... .. - .•...... - ... .. ... -. . .. 96 - 116¼ 96 - 06 Laclede Gas-l ■ t, (r .... 5 109 -109¼ 108¼-109¾ 108¼-109½ 109!,4-109¾ 108 -109 108¾-109¼ 109½-110 107¾-107¾ 107'¼-108~ 108~-108½ 106¼-107 L07 -10a¾ Refund. & ext.1934.5 106 -106~ ..•. - .. . . . .. - ... ... .. - . . . 105¼,-105½ . . . . - ........ - ••.. .... - •...... - ........ - .... . .. - . . .. . . .. - ... . MUw. Gas-L,-lst ..... 4 92¼- 92¼ .... - ..... ... - .. .. . . . - .. 02 - 92 - •. . 92¾- 02¼ 02%- 92¾ 93¼- 93~ .... - ... 92½- 92½ 92¾- OS ~.Y.El.Lt.H.&P ... ~110 -110¼110 -111¾111¾-lll½lll -lllJ.<2 110½-111~10~-110~1(19 -110],illO -110¾100¼-llOi..uo -111 110 -110¼108 -109 Pur. mon, col. tr., 1r.4 94¼- 97\l:t 94¾- 96 94 - 05 93 - 94¾ 02 - 92¼ 92 - 92¼ g3 - 94' 91¼- 92¼ 91¼- 92 91~- 92¼ 91 - 92 90 - 91¾ Edie. El.Ill., ht,'10.~ 105¼-105¾ 105¾-105¾ 103¼-103½ 103¾-104 104¼-104!,4 104¾-104½ 105 -105 105¼-1051,i ...• - .... 103¼-103~ .. .. - .. . . .. - ...• l11t, cons., 1995, (r .. ~ . . . . - ........ - ... 118½-118½ 119¼-119½ .... - .. . .... - ........ - ••••.••• - •.....•• - •••...•• - •... 119:l,4-121 - ..•. N.Y. &Qu, El.& Pow.Con., irold, 1930 ... . .. ~ 107!i:(-108 105 -105 106 -lOfl¾: .••• - ... 106 -106 .... - •...•••• - . . •.•••• - •....••• - .... 10'.l¼-102¾ ...• - .... 102 -102 !ll.Y.&Rlch.-19~1.. 5 .... - ... . .... - ... ... .. - .. . . .... - .... 103 -103 .. . • - .....••• - ....•••• - ••. ....• - ••.••••• - •••. 103 -103 .... - ••.• ::!~~,: ;;,~·i·:f~:~~1-·· -........ -........ -........ -.... 1■t, con., c .. 1943 .... 6 125 -125 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 105¼-105¼ ..•• - •......• - •.•..••• - ... . •••• - •••.•••• - .... 104¾-104'4 .•.• - .•.• ~127¼ .••• - .... 128¾-1233. 128~-~ 124 - ~ 124 -124 .... - ••..•••• - •••• 123 -128 123 -123 •..• - •••. 89 RAILROAD AND MISCELLANEOUS BONDS. 190a-C,oncluded. OCTOBER. 'l'OV'BBR. DEO'BIIIB. APRIL. JUN111. AUGUST. 8BPT'BBR. MAY. JULY. MA.ROH. - - - - - - - - - - - - - - ---- ---- - - - - - - - - - - - - ---- - - - --- ------ - - - - - - ---- - - - ,- - - - - Peo.G.L.&Coke-(0on.) Refunding, 1941'. ... ~ ... - .... .... - .... . ... - .... 108¾-109 107~-108 107½-107½ 107¾-108½ 108¼-109 . ... - .... 106¼-106¼ . .. - .. . . .... - ..... Ch. G.-L. & C., lat . . :i 108 -109 108½-110 .... - .. .. 108¾-109½ 108~-109~ 108¼-110 108 -108¼ l QS¾-1089,! 109½-110 108M-108¼ 110 -110 111 -111 Con. Ga8, l ■ t, 1936.:i 107¼-107¼ 108¼-109 108¾-109¾ 109¾-109¼ 108¼-109 .... - .... .... - . ... ... - . ... .... - .... 108¾-108¼ . ... - .... 105'4-1063' E11uit. Ga ■ & F., l8t.6 100¼-100¼ .... - ... . .... - .... 102 -102 .... - .... 104¾-104¾ .... - .... .... - . .. .... - .. . .... - ······· - .... . ... - .... Mutual Fuel Gaa .... :i .... - .... 106 -107¼ 105½-107½ 107¼-107½ .... - ... . . .. - .... .... - .... . ... - . .... .... - . ... 1~-1G6~ 103¼-108½ 108¾-108~ Trenton Gns&I<::I., 1 at.~ 111 -112¾ .... - .... 110¾-110% .... - .... 110 -110 ... - .... .... - . ... .... - ... . . ... - .... .... - .... .... - .... .... - . ... Westchester Ltaht .... :i lll¾-118 .... - .... .... - .... .... - ... .... - .... .... - .... .. - .... . ... - . ... . ... - . ... . ... - ..... .... - .... .... - .... JANUARY FBBR'RY. BONDS. Low.High Low.High Low.High Low.Hfgh Low•Higb Low.High Low.IDgh Low.High Low.High Low.milt t,ow.Hlllh Low.High MISC EL LAN EO US. Adam11 Expre•-Coll.4 108¼-104 104 -105¼ 108 -103,4 103¾-104 108½-104 103½-104 104 -104½ 105 -106 102 -1033,s 102¾-103~ 102M-104¾ 102:ij-104¼ - ... 56 - 57* 56 - 57Xi 66 - 68 55 - 55 48 - 493,s 52 - 62 45¾- 45¼ 4.6 - 46 49!J;t- 50 . - ... 54 -M B'klyn Fer., l•t, cons.:i - .... .... - ... .... - .... .... - .... .... - .... .... - .... 108 -108 .... - .... .... - . .. ... - ... . .... - .. . ... . Cb.J.Ry&U.SYds'l:i.5 - ... 78 - 80 75 - 78 71~- 74 .... - . ... .... - ... 75 - 75¼ . ... - ..... 77 - 77 77 - 77 . ... - . ... 76 - 76 Det. Ill.& ill. L. G.-Inc. 97 - 97 96 - 98 97¾- 98 95¼- 96!,s 96 - 96¾ 95¼;- 96½ 96½- 97 96½- 98 96~- 96½ 97 - 98 N. Y. Dock-:i0-year .. 4 g5 - 96½ 94.½- 95 .... .... .... •. . 100 -100 99 - 99 . - ······· - .... 99 - 99 .... 99¾-100 98 -100 98 -100 .... Provident Loan,'21.4½ ... . .. . .... 100¾-100½ .... .. . . .. . .... .... .... ... . .. ... .. .. .... .... .... .... ... . · ••· St. Jos. Stll Y dtt, 1st 4½ ·· • ···99¾-102 100 -101J.( 1003,(-101 100 -100!,¼ OIi -102!,.i !l.01 -103~ 94 -II~ 95 -103 84 - 92¼ 90¾- 97 83¼- 84 U.S. Red. & Reftn'll,.ti 83¾- 84 TELEGRAPH AND TELEPHONE. .... - ., .. 95 - 95 98¼- 93~ 97 - 97% 98 - 98¼ 98¼- 98¼ .... - . ... 96¾- Q6§s .... .... - .... Am. Teleph. & Telefl.4 .... - ... 98 - 98 . . 96¼- 96½ .... - ······ ... - · ••· ... , - .. .. .. .. ... . ... . - . ... ... Commer'I CQble, 1st .. 4 .... ... . .... 109½-109¾ ... .. .. .... ... .... . .... . .... .... ... . .... .... .... .... . - . ... •· - . ... ·• Met. Tel. & Tel.-lst.;i W. Union Tel.-1938.. :i 11(%-111 111 -111½ 111 -111½ lll¾-111½ 111 -112¼ 113 -113 1()8¾-111½ 111%-112 111%-112¼ 111¾-112¼ 110¾-111)1, 109 -110~ Fund. & R. E., '~0.4~ 104%-105% 10~-106¾ 106½-107 106½-107¾ 104½-105¼ 104¼-105¾ 105 -106 105~-106¼ 105¼-106 106 -106¾ lOi¼-104¾ 10~-105 .... - . .... 105 -105 . •• · .... - .... 107¼-107¼ . - ... . .... - .. 110¼-110¼ .... - . .. .... Mut. Unlen Tel .. 11. t.6 MAN U F ACTU KING AND IND( STRUL, .. , 9g - 99 98¼- 98¾ 97'4- 989,! 98 - 98~ 96½- 97 97¼ - 9d 98~-~ .... 99¼-100 Amer. Cot. 011,1911>.4¼ 100 -100¾ lOQ¾-10()¾ 100 -101 95¾-100 9 -1007-4 95¼- 98¼ 94¼- 96 91"- 96 Am.Blde&Lea.-lst.ti 97 -100¼ 911~-10(% 97 - 98~ 97 - 98¾ 9B¾- 98 96½- 97½ 97 - 98 .... .... - .... . .. - . ... .... .... . ... - . .. 77 - 77 77½- 79¾ 79 - 81¾ 80¾- 8~ 0:J,t- 82 81 - 82½ 82¼· 87'4 Amer. Ice Secor., deb.ti .... ... 96 - 98 101 -101¼ 98¾- 99 101 -101¼ 101½-102½ 101½-102½ 94 - 96 .... 96 - 96¾ 95 - 95 94¾- 95 Am. Spirits Mfa.-lst.6 95 - 97 Am. Tbread-l8t coll .. 4 88¼- 89¾ 88¾- 88¼ 87½- 88~ 87¾- ~8 87¼- 88 87½- 90 89½- 89¼ .... - . ... 90½- 91 90¼ -90Jfi 89~- 91½ 90¾- 98 114¾-116 115½-116¾ 116 -117¾ 113!4-ll~ 113¼116½ 114½-U~ 113 115:)4-113¼ 110¾-114 -115½ 112¾-115¾ 110~-118¼ 113%-117½ Amer. Tobacco, 1944.6 116 -116¾ . . - .. .. 113:¼-114½ 111¼-lll!J.( . ... - . ... .... - .... . ... .... 116 -116¾ 113x.-118¼ . .. - . .. 115¼-115" Red ■ tered ............. . 6 111 -111 76¼- 80¼ 78½- 8~ 79'4- 82 73¼- 77¼ 737,,fr- 75¼ 73 - 75¼ n - 74~ 73¾- 75!,4 75 -76¼ 74 -76½ 75 - 78 Gold, 1931 ............. 4 71 - 76 .. - . Redstered .... ...... .4 ... - .... .. - . .. . . .. - .... .... - .. .. ··•· - .... 74 - 74.}4 .... - . ... . ... - . ... ··•· - . ... .... - . ... 79¾- 81 99½-100¼ 101¼-102~ -102 100 ... . IJ9Jj4-101¾ .... - . ... . ... - ... . - .. .. 99¼-100½ 99¾-100% Cent.Leath'r,20-yr,ir.:i .. - •··· .... - ..... .. - .... 81 78 79 82½ 80 80¾81 78,u80½ 80 78~80 82½ 82l>9 80)474 80¼80 81!1:t 83 83 82 80¼ - 84½ Consol. Tobac., :i0-yr.4 Dht. Secur. Cor.-l11t.1> 79 - 80¾ 79 - 80).f, 79 - 82¼ 78¾- 82 77¼- 80½ 78~- !iO 79 - 80¼ 80 - 81~ 80¾- 82¾ 79½- 81" 79~- 81¼ 81 - 83¾ Intern'I Paper-lat .... 6 109¼-109¾ 108 -109 109 -109 108¾-109¼ 109 -110 109½-109¾ 109½-110 108 -108 107¼-108½ 1()8¾-110 108¾-109~ 109 -110¼ Oi - 96 93~- 95 92 - 96 114¼- 96 94¼- 98" 117 - 9~¾ Yl½- 92½ 92¼- 96 . ... - . ... 93 - 95 Cons., conv., 193:i, .. :i ... - .... Int. Steam Pump,' 13.ti 102¼-104 104¾-104~ 104 -104% 103¾-lO!!J:1 105 -105½ 105¾-10~ 103½-104 .... - . ... 103½-104 103 -103!1:t 103¼-104 lll!l¼-10.l¼ ... .. . ... . .. . .... ... . ... .... ... 9g ... . 07½ .... 97½.. . ... . .... 08 ... .... .... . - . ... - .... Knlckerb. Ice (Chic.) .:i Lacka. Steel, l•t '23 .. :i 104¾- 107¼ 100%-108 1067,ti-107½ 105 -105_¼ 104¾-105¼ 105 -105!1:t 105!-4-106~ 106½-107 105½-108 lOJ.!Jg-105 104½-105 101'-'·107 85 - 85 85 - 85 85½- 8'1 85 - 85 87 - 88 85 - 85 Nat.Starch M'f'g-let.6 91 - 98 91¾- 92¼ .. .. - . ... ... - . ... 8,½- 87¼ 85 - 89 75 - 75 59 - 71¾ 68 - 68 .... - ... 70 - 70 59 - 60 71 - 75 .... - . . 60 - 60 N.Starcb Co.-S.t.deb.~ .... - . ... 70 - 70 69 - 70 53 - 64 51 - 52 50 - 53¾ 51½- 53 53 - 59¾ 60 - 64¼ 50 - 52 50 - 51¾ !1.0 - 49 Stan. Repe & T.-1 ■ 1 .. 6 42¼- 48 !12¾- 49¼ 46 - 54 3 3 4: 4: 2¼4 - i¼ 2¾- 8~ 8 - 8~ ¾- 4 5¾- 8 2¾- 6 5¼ 4~ - 4¾ Incomea, llOld, 1946.:} 1¾- 5½ l¾- 8 108}(-108¾ 107½ 10 14 U.S. Leather-Deb.8.f.6 111¼-112 112 -112 112 -112 112 -112¼ 108½-110 109 - 110 109 -119 110 -110¼ 111 -111 .... 99 -100 98 - 91!¼ 99 -100 95 -103½ 101 -103½ 100 -103¾ 100 -101¼ 101 -IOl¾ 99 -100¾ 99½-100¼ 99\.(i-101 U. 8. Realty & Imp ... 5 98 - 95 U.S. St. Corp.-2d,'ti3.~ 92 - 94¼ 93¼- 95¼ 93¼- 95½ 55¾- 98¼ 921-:(- 94¾ 92¾- 94ll;, 94¾- 95¼ 95 - 08 96%- 98!,t Oi¼- 9~ 9!1¾- O,¾ 95¼- 97 Red11tered .... ......... ~ 92¾- 94¼ 93%- 9~ 93¾- 95¾ 94¾- 97¾ 92¼- 95¾ 92%- Oil):( 94¾- 96Jc 95'4- 97% 96¾- 98½, 98 - 98¾ 94½- 97¾ 95¼- 97¾ . ... - .... Va.-Car. Chemlcn.1 . ... 5 .... - .... .... - ... 101 -101¼ 911%- 991,g 99¾- 99% - . . - .. . 99½-100½ . - . .. . 100¼-101 COAL AND IRON. Col. F. & 1.-Gen., ■ .f.l) 1031)4-104 102 -103~ 103%-105½ 103 -10!¼ 104 -105 105 -105 103¼-108~ 108~-103!,t 103¼-103:J4 103 -103¾ 103 -108 n.os -104 . - . .. - ·••· Conv. deben., 1911 .. :i 85 - 85 86 - 90 ... - . ... .... - .. . 85 - 85 - .... . .. . - .... . ... - . ·•• · 90 - 90 .... ... .... - .... . ... - . ... . ... - .. . .. .. .... . .... .... .;, Trust Co. certltic't• 84 - 85¾ 84!J:t- 89½ 88¾- 89½ 87 - 87½ .... 70¼- 73~ 71¾- 73¾ 72¾- 75}( 72¾- 75~ 78 - 79~ Col. lnd., lst, conv.A.5 .... - .... .... - ... . . - . ... 73 - i6¼ 67½- 73% 70 - 73 7t½- 76 70 'il - 74¾ 111t, coll. tr., 1934.B.a .... - .... .... - ... . .... - .. . 69½- 72½ 66¼- 71, 68~- 71 - 72½ 89 - 72!}.f 71½- 73¾ 71¾- 73~ 72 - 78¼ 104½-104¼ . ... - .. .... .... 105¼-105¼ ... .... .... . ... . . ... - . .. . t06¼-106,½ 107 -107 . K.&Hock.C. &C.,lst.ii .... - .... Tenn.C. I.&Ry .-Gen.l) 93¾- 97¼ 98¾-100 98¾- 99¾ 9d - 98½ 98 - 99¼ 98¾-100 97¼- 98½ 99 - 99¼ 99½-100¼ 100 -102 100 -100¾ 100 -100¾ Tenn. Dlvl11lon ....... 6 110¼-111 .... - .... .. .. . ... .... - .... .... .... 110 -110 .... 112 -112 llZ¼-118 110 -110 110 -110 110 -110¾ - .... 110!1,(-112 111¾-111¾ 111¾-112 112 -112 ll.2¾-112¾ . - ... 110¾-11~ . - . ... 112 -112 lll¼-112 112 -112 Blrm. Div., l•t, con.6 .... 103 -103 .... . .. 103,½-103½ 103¾-105 .... De Bard.C.& J.-Gu.6 .... ... .... ... ... . 104c¼-104¼ . ... . ... .... - . ... . b9 - 90¼ 90 - 90¼ 87½- 90 Va. lron c. & c.-1111.. l) 86¾ - 93¼ 92¼- 93¾ h8 - 90¾ 88¼- 90½ 88 - h9 86 - 90 90 - 92 91 - 92¼_ 90 - 92 ... . . .... ... .... .... - .... - .... - .... .... ... - -. .... ... .. ... - - .... - .... ... - ... ... .. - .... .... ... - - - ... .... - .... ... - ... - .... ... - -. - - - - ... - - - ... . - - .... - .. - .... . .... - .. .... .. ... . ... ... ... - - . .... .. . ... . ... - - - .... .... - .... - .... - .. ... ... ... ... - ... ... -. - - - - - 1906. JANUARY FEBR'RY. MARCH. APRIL. MAY. JUNE. JULY. AUGUST. 8:&PT'BER. OCTOBER. NOV'BER. DEC ' BER, BONDS. - - - - - - - - -----1----11-----_ _ _ _ _ _ _ _ _ _ Low.High Low.High Low.High Low.High Low.High Low.lllgh Low.High Low.High Low.High Low.High :f. ow.Hlgh Low.High Ann Arbor-1st, '9:i,fl.4 Atch. Top. & s. Fe.General, gold, 199:i,4 Realstered .......... . 4 Convert.,llold, 1955.4 Re1rl11tered ........... 4 War't8, ~0-yr. conv.4 Acliustm't, ll •• 199:i, 4 Stamped, guar ...... 4 Rea-istered .... .... . 4 Deben. "F," 1908.... 4 Deben. "G," 1909 ... 4 Deben. "H," 1910... 4 Deben. "K," 1913, .. 4 Ea■t.Okla.Dlv., lst.4 Atl. Coa8t L.-l8t, ,r ... 4 Registered......... 4 Sav.Fl.&W.,l ■ tg . 6 Brun &W.,l•t '3S.4 811. 8. Ocala & G .... . 4 L.&N.coll. ll•• 19:i2.4 B. & o.-Pr. l.,,r.'2:i.3¼ Regl11tered .. ..... .. 3)t Gold, 1948 ............. 4 Relll ■tered ........... 4 Pitt8. Jc.& M. Div.a~ P.L.E.& w.va.SJ8 .. 4 S. W. Div., ht, ir .. 3¼ Relllstered .. ... . . .. J¾ Pitta.&. \V., l11t.'t7.4 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 97 - 09 97 - 98½ 06¼- 97¾ 94 - 97 90 - 93½ 91" - 95¼ 90 - 92 90½- 91 91 - 91 90½- 93¼ 98 - 93½ 93 _ 93 102!J;i-104½ 102¼-104½ 103¼-10~ 100 -102¾ l00¼-102¼ 101 -103¼ l 01%-103¼ 101%-102% LOl¾-102¾ 100¾-101:J;t 100~-101¼ 100%-103!,4 1 102¼-103¼ 101½-101¼ 101¾-101~ 100¼-100)4 99¼-101¼ •••• - ••• . 101¾-103¾ . ... - .. .. 102 -102 100 -lOJ.¼ lOQ¾-100½. .. _ . .•• 102¼-105¾ 102 -105~ 102¾-lOi 101¾-103Ji 101½-103% 100½-101¾ 100¼-102~ 10'2¼-109 105¼-110¼ 104¾ 10~ 119i½-108¼ lOI¾-107 . _ . • • • • - • . . . . .• • _ •••• 108¼-10 Xi . . .. - . .. . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . - .... . ... - ........ - . . . . . .. - .... lOl:J.i-102½ tOl¼-101¼ 101 -101½ 100¾-101~ 102 -108~ 106¼-109!.i 101¾-107,½ .. .. - .. .. ...• _ ..•• 95 - 96½ 96 - 96~ 96 - 97¼ 92!,.(- 92¾ 92 _ 98 93¾- 95 94 - 95 94¼- 97¾ 95 - 96¾ 94M- 05½ 04¼- 95½ OJ - 95 92 _ 93 02¼- 93¼ 92%- 93½ 93 - 91>2 92¼- 93 92 - 98 92¼- 98 93 - 95¼ 91 - 93 95 - 96 95 - 97 94 - 97 89 _ 89 ... _ .. .... . . . . - . .. . . . . 99¼- 99~ .••• - .... 98¾- 98¾ .... .. .. - .... .. .. ••.. . ... _ .....••• l00¼-100½ .. •• . .. . 07 - 97 . .. . 96¾- 96½ .•. • . . . . - .... .... - .. . . ... - .... Q! - 94 . •.. ... - ... . .... . .....• - •••• 9~- 95:J;t •.•• - -·· · .• .. _ . . . . ... 98¼-101½ 09 - 90½ .••. 97 - 97lij 101¼-102½ 101¼-102¼ 99~- 9~ 98:14-100¼ 981}.!-101¾ 99).6-100½ 09¾-100¼ 100½-101:k,98 - 98% 97¼- 98~ 9i¼- 98 . . . . 98 - 93.¼ . • .• .... - .... .... l827,-ii ·132½ . .• • - ... . . ... - . .... ..• - ....... . - .....••• - .. ....•• - .•••.••. - ••••...• _ • .•. . ... _ •... . ..• - •.• .. ... _ .. .. .•• .. . - . ..... .. - ... . 99½- 99½ 95M- 97~~ .... - ... . , .• . - • .....• - ••.. 96¾- 96¾ .. . - ........ - . .. .. .. - ... 99½: 99½ 98 - 98 .... 92¼ oac- 92~ oo - 90~ 89 - 90 91¼94 94}(- 95¾ 9!1.¾- 95¾ 94 - 94¾ 98½ - 94¾ 92"- 94¾ 90 - 94¼ 90½- 92¼ 91¾93~- 9!lh 93¾- 94¾ 927,1i- 94" 95¾• 07¼ 98¼- 95¾ 98¼- 9i½ 92 - 9! 1!4).6 - 1.6 94¼- 95~ 93¾- 94.!'4 9! - 94~ 943'- 95 9i - 05 . . . . - . . . . . . . • - . . . . . . _ • . . . . . . • _ . . . . . . • • - • . . . . • • • _ •.•• . . . . ~ • •• • . • • - . . • . • • • - • • • • • • - • • • • 93 - 95 103 -106½ 104¼-105 108¾-10!¾ 101½-103¼ 101 -108 103 -1037,i L02½-lC3¾ 102½-103½ 102¼-108){. 10{}¾-101½ 100 -1-01~ l~-102 lOl}ti-102 ...• - .... 101¼·103¼ 101¼'-101¼ 100¼-102½ 101½-103 102¾-102¾ .•.• - • . . 99¾- 99'4101 -101 Ml -101 10.- -101¼ 90½- 90~ 89¼- ~ 81%- 3g~ 00¼- 91¼ .... - •..•.... - . . . 90 - 90 92 - 92 91¼- 91"1 li2 - 92 91%- 92 94:¼- 9~ 93!1,t97l)4- 98¾ g8 - 98¾ 98 - 99 97½- 98¾ 95\14- 98¼ 07 - Oi¾ 97~- 98 97llt- 09¾ 98¼- 99¾ 98½- 99 90~- 913,4 90 - 90¾ 69M- 90% 90¼- 91~ 90¾- 91~ 91~- 92 90¾- 92½ 92~- 93 90 - 92 91 - 92¼ 92 - li2¼ 91¼- 92 88¼- 89 ... . t11_ 95 - 95 . ... - •••• 98 - tl6 , ... _ ..,.. 97 - 97 .. . - .. . 97 - 97 ••• • JOO -100 •••• - •••• 98 - 98 I.... - .... .. - .. . .... - .... 95"' 90 RAILROAD BONDS. 1906-Coutinued. BONDS. JANUARY FEBR'RY. MARCH. APRIL. MA..Y. JUNE. JULY. AUGUST. SEPT'BER. 0CTOHER. NOV'BER. DEC'BER. Low.High Low.High Low.High Low.High Low.High Low.High Low.High Ll.)w.Hhzh Low.Hiirh Low.Hil!'h Low.High Low.High -----· - ---Buff.Roch.& P.-Gen.~ .... - .... 116,ii-116½ 117¾ -117½ 117 -117 119 -119½ 119½-119~ ...• - . .. 117 -117 117¼-117¼ 118¾-118¼ •••• A.lleg. & w .. l•t• ara.4 .... - ....... . ... - .... 101½-101½ . .•• R. &P., l•t• 1921 ... 6 .... - .... . ... - ....... - .... 124 -12i - .... . ••. Con8ol., l8t .......... o .... - .... 127 -128½ ..•• - •... . .. - .. . . ..• - ..••.• ., - ... 1251'-125¾ •••• Buff.& Su ■q.-1 ■1, ref.4 99½- 99½ .... - . .....•• - .... 98½- 98½ 98½- 98½ ••• 95¼- 96½ .... - . •.. 91:1 - 98 •••• Can. South'n-l8t, aru.~ 101 -101¾ 101¾-101¾ 101¼-l0ll).t 101½-102~ 101%-102¾ 102½-103 100¼-101 10()%-100¾ 100½-101!,t 101¾-101~ 101¾-102½ 102 -102½ ~dmortgaare ........... ~ 105%-10~ 107 -108¼105½-10~ 105;4-105½ lv5 -106 105¼-10~ 105¼ ·105!,4105%-106½103¼-104 l03¼-104;½10i¼-10i½l08¾-10i~ Rearl8tered ........... 3 105!1(-10:Sl'.( .... - ... . ... - ... .. .. - ... . 103 -10:J ..•• - •.•• C.B.U.Pac.-l•t,ar ... 4 .... - .... .... - ... . 95 -95 .. . . - ... . ... - .. . . . .• - . . . .. ... - .... 9G -90 92 -92 93¾-91>~ 95 -95 ...• - ... . Central of Ga.-18t ... 3 120 -121 - ... . 120 -120 . . - ... . 119 -119 . . . - . ... 118¼-118~ Con8ol., 194 Ii, gold../i 113~-114½ 114 -114~ 113½-114¼ Ll2¾-114½ 109¾-112 lll½-112 lll½-111¾ 111 -112 110½-112 112 -114 llQ½-111¾ 109 -ll0JJ.t Rearistered .. ......... ~ .... - .... . ... .... - .. . . 113 -113 l•t pref. lncome ...... /i 93~- 9tS 95 - 97 96¾- 99 97 - 98¼ 96¾- 97¾ 97 - 9[} 98-93 97~98 97¾- 98½ 90 -92 89 -90 89 -89 97½- 98 91 - 92 89½- 89½ . . • . 97 - 98½ 96¾- 97½ . ... Stamped............... . . - . . . 96¾- 95¾ 9~- 99 9S~- 98½ 89 - 90 89 - 92 76 - 77 89 - 89¾ 79M- 83½ ,5 - ,9 2d pref. lncome ....... /i 80½- 86½ 85 - 87¾ 87¼- 92½ 87 - g3 87 - 90½ 89¼- 91 89¾- 91 90 - 92 8S¾- 89:J,.t 75 - 83 74 - 78 76¼- 78 Stamped............... - .... .... 83 - 91½ 87 - 92 88¼- 90 ½ 90 - 91 87 - 89¾ 87 - 87½ 72 - 8 >½ 70 - 73 66 - 70 3d pref. Income...... . Ii 76½- 81½ 79¾- 85 83 - 91 86 - 90~ 85 - 89½ 86 - 88½ 88 - 8~ 89 - 89 88 - 88 86¼- 85¼ 67 - 88½ 78 - 81 70 - 70½ 67½- 70¾ Stamped.... .. ........ 75 - 75 81:14- 83 84 - "87 86 - 90911 85¼- 89 0a - 93 Chatt. Div., 19:H-.. 4 94½- 94½ - .... 106 -106 106¾-106½ Cent. RB. & Bk. Ga .. ~ .... Cent. of New J er9eyGen. mort., 1987 .... :> 131¼-132 131 -132 129¾-131¼ 128 -129½ - . . . 125¾-127½ 126 -126¾ 126¾-126U 126!14-128¾ 128¼-128½ 127¾-129 Rearl8tered . . .... ..... ~ 131 -131½ .... - . ... 130~-131 - . 125½ -125½ . ... - . ... 127 -127 125½-125½ . . . . - .... 126 -127 125~12~ - .. . . ... - ... . 111 -112 lllJ,,(-111~ Am. Dock & Imp . ..... Ii . .. . - .... 112½-112½ 112¾-112¾ 113 -113 ll2l't-112~ . ... - .•. . ... - .. . .... - .. . 100¾-100¾ 100 -100 L. & W ., mort., '12 .. ~ . . . . - . .. . 102½-l02l-2 102 -102 Con. ext., '10. aru.4~ 101¾-102¼ 101 -101¾ lU0½-101 100¼-101 101 -102¼ 100 -101¾ 100½-102 . • • . - ••. . 100 -100~ 100¼-100¾ 100¾-101~ 99¾-100~ ~ 0laesapeake & Ohlo103 -108½ 104 -104 . ... - ........ - .... 104¾-104¼ l0llJ.t-102~4 F3 -108½ 103 -103 eerlea A, gold, 190S.ti 106 -106¾ 106)4-106¼ ... . - . . - ... 107¼-107¾ . ... - ... . 105 -105 ..•. 107 -1U7 - .. ...... Mort1ra11e. 1911 ....... 6 109~·109~ . .. - . . 110½-110½ 1st, con., g., 1939 .... /i ll8½-119¼ 118½-119¾ 118¼-118½ 118 -118½ 116)4-116¾ 116¼- 118 117~-118 116).d;-117 116¾-117½116 -118~ ll6 -116¾ 116 -116¾ - . . . . 114¼-114¼ ll6 -116 .Reglstered .......... .:i .... - ........ - ........ General, 199:J ...... 4½ 107!1(-108¾ 108½-109 106 -107 105 -106¾ 105 -106¼, 106 -107~ 107 -107¾ 100¼-107U 103½-104¾ 104 -105¾ 105 -106 104 -106 Realstered ... ... ... 4¼ . ... - . . . . . . . - . .. .. .. . - .... , 05 -105 104 -lOi Vraia Valley, l•t ..... a . .. - .... 112 -112 R.&A.D.1stcon.'89.4 102 -102 100~-102¼ l~-101¾ 101¾-102 101 -102 101%-101¾ tOQ¾ ·l0l .•.• - •••. 100 -101½ .... 102¼-103½ 101¾-102¼ K.&A.D.,2dcon.'89.4 96)4- 06¼ 96¾- 96¾ 9~- 116¾ .. .. - .... . . . . - ..•.•••• 97¾- 97¼ 95 - 95 Greenbrier, 1Bt, gu.4 . ... - .. 99:}.t- 99¾ Chlc.&Alt.-Ref.'49 .. 3 82¼- 82½ 81½- 82¾ 81 - 82 80 - 80}1i 80 - 80½ 79 - 80½ 80½- 81 80 - 80½ 80½- 80½ 73½- 83 b0½- 80½ 79½- 79,t .Railway, 19/i0 .. . . .... 3x, 78½- 81½ 80¼- 82 80 - 801¼ 80¾- 80½ 7d - 79¾ 78½- 80¼ 76¾- 78 76¾- 77¾ 77 - 77¾ 78)4- 80¾ 77 - 78½ 76¾- 78 Chic. Burl. & QuincyDenver Div., 192:.t .. 4 102 -102 100¼-100¾ 119!1(-100¾ 101 -101 100½-101¾ 101 -101½ 102¾-102¾ ..•• - •.. 100¾-100¾ 101¼-101¼ 101 -101 101 -101 Illinoi• DIT.,1949.3½ 94'¾- 95).( 93~- 95 93¾- 94 92¾- 94',( 92½- 94 93 - 94~ 91¼- 91¾ 91 - 91¾ 91 - 92 92¼- 93½ 93¼- 93¾ 93 - 94' Reirl ■tered ......... 3½ .... - .... . ... - ... . . .. - ... . . ... . .. - ... . .... - .... 90 - 90 .... - ... . ... - .... .. - ..•• Gold 1949 .......... 4 ... - . . t05¾-106!4 104¾-104¾ ... - ... . .... - ..• 1()5¾-105~ 101 -102¼ 101¼-102!,( 102 -102¾ 102¾-lO!l l03¼-103¼ 103¾-lOi¼ Iowa.Div., 1919 ..... 4 102 -102¼ 102%-102¾ 102¾-102!14 100 -100 100¾-100¾ llll~-101½ 100¼-100~ 101 -101 ..•. - .... 99¾-100 100¼·10~ 10()¾-101 Nebr'•ka Ext.,1.92,-.4 106½-106½ 106U-107 107 -107 106¼-107 105 -105 103 -103¾ l0l¾-103 ..•• - •. . . 102¾-lOi 102 -102 Realatered ........... 4 . ... - . .. . . .. - .... .... - . . . . .. - .... 10'1¼-104)4 . ... - . . . . - .•.. .... - ....... - .... 101¼-1013' S. W. Div., 19'll ..... 4 .... - ........ - . . . - . . . . 98 - 98 99 -100 .••• - . . . . .. Debenture, 1913 ..... ~ 106 -107 106¾-1061}.( 106¼-107 ..•. - .... 105 -105 1U2¼-104 104¼-10i14 . ..• - ... 104 -104¼ 105¾-105¾103 -105 103~-103¼ Han.&St.J.,cona.. 6~12¾-112~ 112¼-112!,4109 -109 108¼-108!,( ... - ... . 110 -11~ .... - . . .. 109!1(-109!1( ... - •... 108 -108 t07¾-107¾ . .. - •••• Chic. & Ka8t. IlllnolsRefund. & lmpl ...... 4 9-i¾- 96'A 95¾- 96½ 115~- 96¾ ... - . . . . . •. - . . . . 95¾- 95~ . . . - . . . 92 - 92 ht, •lnklnar fund ..... 6 .. . . 103¼·103¼ 10'1¾-104¼ . ... - .. . . 104~100~ 102)4-102¼ - .•. . 102¾-102¾ 103 -103 103¼-103¼ 100¼-100¼ l•tconsol., srold . ..... . ti 132 -139 135¼-135¼ 135¾-136½ 132 -133 - •.. . .... - •... 132 -132 . ..• - . .. 129¼ 182 - ••• . .••• Gen. conll. l•t, 1937.~ 117~-119¼ 119¼-119¾ 119 -119 119¼-120 ...• - •... ll~-116¾ 110¾-117 .... - .... 117 -117 119 -119 117 -117 116½-ll~ Rearl•tered .... . ... ~ .... - ... . lld¾ ·llS¾ . .. - ... _ •.....• _ Ch.& In.C'I Ry,,l8t.li 118 -118¾ 118¾-118¼ 117¾-118¼ .•• - ... . ..•. - .... . .•• - •••• 114½-115 .... Ch. Ind. & Lou.-Ret.6 132½-133 133 -183 132!1(-137 138 -134¼ 133¾-133¾ 183 -188 180 -130¼ 129¾-129¾ ..•. - •... 128 -128 128½-128¼ Retundinar, 1947 ..... ~ 113¾-113½ .... - ... . ... - . ... 114¼-114¼ ...• - ... . ll4¾-114~ .... - •... . ... - .....•.. Lou. N. A. & C., l8t.6 107¾ ·107¾ 108¾-108¼ 107M ·108 ..•. - .... 107 -107 107½-107½ . .•. - •.•...•. - •••. 105½-105¼ .... - ........ C. M. & St.P.-Term'I.~ 108½-108¾ . . •• - ..•. 108¾-108½ ..•. - . . . . • .• - . . . . . .. - . . . . . .. - ••• 106½-106½ 106 -106 Gen. M.," A" 1989 ...4 t09½-110½ 1()8¾-110 107 -108¾ 107,<i-108 105111-108 108½-111 108¾-108½ 107!1(-108 108½-108½ 108¾-l0i ½ 107¾-108 107 -108 Realatered .... ...... . 4 . . . . - • • . . . . . . - . . . . . . . - . . . . . . . - . ... .... - ... .... - . . . . . - .... 104~-104½ . . . . - . . . . . . Gen • .JI.•• B" 1989.3½ 96¼- 97 95¾- 96¾ 93½- 95 93½- 95 g3 - 94 93¾- 95 .... - . •• 92 - 92 91½- 91½ 91¾- 94½ 93¾- 94¼ 92¼- 94~ Chic. & Mo.R.Dlv •.. ~ . .. - . . . 118¼-118!4 .... - .... 116 -116 - ... 115:14-116¾ . .•• - ........ - ... 112¼-114½ . .. - ..... . . Chic. & Pac. Dlv ...... 6 l<Yi½-107~ 108 -108 108¾-108!,( 108 -108¼ .... - ....... - .....••• Chlc.&Pac. W. Div.~ 113¾-114¾ 113M-116 113!,,(-114¼ 113½-lU¾ 114 -114½ lU -114 .•.• - •.•. 111¾-111¼111¾-112¾112 -113 112¼-112½110 -113 Dakota & Gt. So•.... :} 109 -109 . . . . - .... 109 -109 . . . . - .... 107½-108 110 -110½ . . . . - . ... . .. . J.at H. & D. Dlv ....... 1 lllkj-111~ 111¾-112:Hi 111%-112 . ... - ........ - .... 113 -113 ..•. - •....... - •... 110 -110 .••• - •••. . ••• 1•tl.&D.Exten ..... , .... - ........ - ........ - .... 182~-182¼ ... - .....••• - .•...••. - ...... - .••...• 1•t• La C. & D., '19.G 11S).-113½ 112%-112¾ 112 -112 . . . . - .... lll½-111¾ .•.. - •.. . Lll -111 . ..• l ■ t So. Minn. Div ..... 8 106~-107¾ 107%-107¾ 107lJ.t-108J.6 108¾-108¾ 108¾-1081.fi 108¾-108" 105 -106 ..•• - ••.. 105¾ 105¾ . .•. - •••. 107 -107 104¾-10'½ ht So. Weat. Dlv ..... 6 l~-106M 1061'.4-106¾ ...• - .... .. . - .•.. . .•. - .•.. 104¾-104¾ ..•• - •••. 103¾-103¾ WI•.& Min. Div ...... /i 113½-113¾ 113~-113~ 113).-115>4 112¾-112~ .••. - •.. .. .•. - •....•.• - .......• - .••. 112 -112 M. & N., l•t, 1910 ...6 .... - ....... - .... 108!14-10~ .... - ..•. 106 -106 ..•• - .....•• - •.. . 105 -105 M.& No., 1.st on ext.6 .... - .. . 115 -115 ..•• - . ... . .....• - Chic. & Northweat •· . '7 126 -126 125 -125 124. -124. 125 -125 . ... - •••. 122½-l~ 12~%-122¾ ••• - •... 119¾-120¼ 122¾-125 l'!l -121 . .•. - ..•• B:iuen81on 1886-26.4 105¾-105½ .••• - •... 102¾-102¾ 103 -104¼ ...• ... - •.. . 102¼-102¾ ••.• - .... 101:J,.f-J.0l¾ 102 -102 Rearl•tered .......... 4 .... - .... 101¾-102 - •....... - •... 101 -101 .••• - .... . •.. General, 1987 .. ... 3¼ 100 -100¾ 99 - 99 99 - 99 99 - 99 97 - 98¼ 98~- 98~ 98).d;- 98¾ 96 - 98¼ 95 - 96½ 96 - 97 96½- 97½ 96¼- 97 Rearlatered ......... 3½ .... 96 - 961)f . ... Slnklnar fund, coup .. 6 .... - ... . 113 -118 - . ....... - . . . . • • Slnklnar fund, rear .... . ti . • . • - ••. . 114.¾-ll4½ . .• • - .... 111 -111 .. - . .. . ...• l!!llnklnar fund, coap .. /i . . . . - .... 108¾-108¾ 109 -109 109 -109M 109 -1091¼ . . . . - •.. . lo8¼-109 - . . 10-l¾ 106¾ . . • . Slnklnar funlll, rear .... ~ .... - .... 107½-107~ .... ~Ii yr8, deben., 1909./i .... - .... 104J,,(-1041t 104¾-104½ ...• - ••. . 102¾-102¾ ...• - •.. . 103 -103 102¾-104 101 -102 101¾-101¼ Reahtered ... ........ ~ .... - .... 101 -101 3o-year deb., 1921 .. /i .... - .... 112¼-112¼ ..•• - •••. 105¼-105~ . .•. - ........ - ... . .•. - . . . l0i½-I0i¾ .•. Debenture, 1933 ..... :. 117 -117 .... - ••.. 116M-116¾ - ••• . 113 -113 llS -113 113¼-113½ 113½-113¾ 113½-115 .... Reirlstered .. ........ ~ .... - .... 117 -117 ...• Ott.C.F.&St.P.,lst./i .... - .. . 101¾-101¼ .•.• - •... .. - .. . . . Win. & St. Pet., ~d .. 1 .... - .... 102¼-102¾ ..•• - • ... . ... - .....••• - ... . 101!1(-l0l!Jit 101¾-102¼ M.L.".&Wlst.,'21.6126¼-126½ .... - .... 126J,,(-126¼125 -126½122½-122½124 -124. 123½-1233,6123¾-123¼123¼-123¾ . ..• - ... . ••. - .... 122½-122½ Ext. & Imp., 19:l9 ./i .... - .... 118 -118 ...• - •. •. 117!,,(-ll';'¾ 117%-117¾ 117%-117¾ ..•• - .••. . •• - •••. l14¾-ll4¾115¼-116½ .... Mich. Div., lat ..... 6 .... - ... . 12~128½ .... •••. . ... 101 -101 Conv. deb., 1907 ... :>-·•· - ••.. 117¼-118 .••• - •••. 117%-117¾ 119¾-119.½ . . - ... ll~-119!,,( C.R. I. & P. Ry.-' 17 . 6 119 -119¾ 120 -120¾ . • . • - . •. . 117¾-117¾ .•.• - ........ - .•..... - . . . llS§li-118~ Regi ■tered .... . ... .... . 6 . . . . - . . . . . . . - .... 119 -119½ . . . • General, 19SS, Ir•• ••. 4 102¼-103¼ 102%-103 101½-lCZ¾ 101%-103 101¼-103¼ 102 -103¼ 99¾-l0Q¾ 100¼-100¾, 100%-101 100'4-102¾ 101:1,4-102~ 101¾-10~ 99 -100¾ , •.• - . •.. 100¾-1001};( .... - . ... . . - . .. . . .. - .... Reaistered ..... .. ... 4 . . . . - .... 102 -102 • • . • - . • • . 99½- 99¼ 100¼-102 923'- 94 93¾- 94½ 92¾- 94¾ 92¾- 93¼ 91¾- 927/4 1 ■ t & refund., 1934.4 95 - 97 95¾ • 9~ 95 - 96~ 92M- 94¾ 03 - 94½ 94 - 9~ 93½- g4. Coll.tr., •er.G.1909.4 .... - ... . .... - .... 97½- 97¼ Serie• .J, UH~ ...... 4 . . . . - . • • . 92¼- 92¼ . • • • Series O , 1911 ..... 4 . . . . - . . . . 89½- 89½ . . • . - . . . . • • . • - • • • • • , - https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis - RAILROAD BONDS. 91 I 906-<Jontlnued. JANUARY FJ:BR'BY. MAB.OB. APRIL. BONDS. MAY. Low.High Low.High Low.High Low.High Low•High JUNJ:. ~ JULY. AUGUST. 8J:PT'BJ:R. OCTOBER. ~OV'BJ:R.I DJ:O'BIIIR. Low.High Low.High Low.High Low.High Low.High Low.High .C.R. r.&P.Ry .-(Oon.)Ro.llroo.d, ~002 ...... 4 79 - 80'½ 79 - 81½ 78¾- 79U 78½- 80'4 76 - 79 76 - 7~ 75}4;- 773' 77 - 78¾ 76~- '78¾ 78½- 81¼ 76¾- 78 76½- 78 Coll. tr., ,i.. 1913 ... ~ ~ - 91¾ 91~- 93 88:14- 91 89 - 01¼ 89 - 91 90½- 91~ 90 - 91¼ 91¾- 93 89~- 90½ 90 - 93¼ 91)¾- 92Jt 89~- 92½ Burl. C.R. & No.let.:i 100)4-101 101 -101~ 101~-101½ 101¾-101~ 102 -102¾ . ••• - .... . .. _ •••....• _ Cone. lat & col. tr .. :i ... - .... 119~-1191( .. .. - •.. ... .• - .••. 118 -118 117!1(-117!14 .... - ..•. 118~-118¾ ... . - .... 116¼-116¾ ..• ·Ch . Ok. & G., 1919.. :i 10~-106¾ ..•• - •... 105 -105 ..• • - •... 105:ld: -105!..( ...• - .•.. . ..• - ••.. 109 -109 .... l ■ t cons., 19~2..... :i .... - .... 111 -111 - .....•• - .... ...• Keok. & Dea M., lat.:i 109 -109½ . . . • - . . . 110½-111¾ 108 -108 .. . . - • •• • . . • • - ••.. 109 -109 - •.• . 105¾-105¾ . . . {:hlc.St.P.Mln.&Om.6135~135½135 -136 134¾-184~133 -135 132 -135 ..• . - •.•. 181 -132¼ .•• - ••.. 181*131¾131½-133~132½-133¼129½-130 Chic. St. P.& M.,lat .. O ..•• - ... . 135¼-185!4 .. . - .... 138 -133 131¾-131!).( 133 -138 - ••...... - ••....•• - ••. . 133 -133¾ .... - ... .. ..• St. P. & s. Clty-bt .. 6 .... - . . 12!¾-124~ .. •. - •••. 120¼-120~ . .. . - .... 12~-120" .••• - .. .. 120½-1203" 120¼-120¼ 119?s·1199Hl9"'-119¾ .... - •••• ,Chic. Term'I Transf .. 4 .... .. - .... 100¼-100¼ 101¼-101½ . .. - ........ - ••••.... - ........ - . ....... - .... 99!,4- 99¼ .•• - •.•• Coupon off........ 4 98 - 99¼ 100 -100¼ 99 -100 99.¼i-100 99¼-100 99,¼i-100 98¼- 98~ 99¾- 99¾ 99¼- 99 79 96 - 99;.f 97 - 97'-( ... - •••• Chic. & W. Ind.-Gen.6 ... - . . . 114¾-114¾ l13¼-113¾ . •• - ••• . 113 -113½ .••• - .. •• .. - •••. 110 -112½ ll2½-112½ 112½-112½ 111½-113 Conaol,, 19~~ .. ..... .. 4 .... - .. .. 95¾:- 98½ .••• - •••. ..• • - •••. 97~- 9~ ...• - .... 9;:):!- 98M Cln. Day. & Ir.-lat. .. ~ 112 -112 112 -112 112 -112 - •.. 107½-107.¼i 107 -107 . •• - •••. .•• - ••....• - •••. Ctn. Ind. & W. '~3 .... 4 .... . ... - ... 91 - 91 CleT. Cln. Ch. & St.L.4 102¼-105¼ 105¼-10~ l03J4-105 103}(-104),d 1<>:rn-104 102 -102¾ 102 -102!'-( 101 -102¾ 101½-101~ 101½-102~ 102½-103 100¼-101½ Cn.lro Div., laL .. . . . . 4 .... - ... . 100¼-lOOxt ... - .. . - ... . 100 -100¾ 100 -100 100¾-100¼ LOO -100, .... - ... . 99¾-101~ Cln. Wah. & M., lat.4 lOQ¼-100~ 101¼-lOlXI lOl'U-101¾ 100¼-100~ 100¾-100~ 100 -100 ... . - . ... 08 - 98 .... ... - ........ - •••. 9'11¼- 94~-' St.L.Dlv., lat.1990.4 102½-103 101 -101¾ 100¼-lOlJ.4 101 -101¾ 100 -100¼ 100¼-100!,,j 9~-100¼ . ••• ..• - •.•. 93½-100 - •.•. 100~ ·100~ Reirist.,red ... ...... 4 .... 9cl - 96 White Water Vall .. 4 .... . . ... - .... 96 - 96 98 - 98 .... -0. I. St. L. & C.,'36.4 103 -103½ LOS -108 102½-102,ti 102¾-102¾ 101¾-101¾ 101 -101 l00¼-100¼ 99:)s -100:kl 99:)s-100¼ . .•. - ••.. 100 -100 99~-100 ~ Registered . . . ..... . 4 .... - .... 103 -108 - •. . . . .. - .. .. 101 -101 -Oln. San. & CI. cona.:i 115 -115 - ••. . 112?8-112¾ .. . • - .... 118~-113!,,j . . - - . • . . .. • • - .•• . -• • • - • . . . . . • • C. C. C. & I., conaol..1 122 -122 . ..• - •• . 118½-118½ .••• - ••.. 119 -119 Gen. con ■ol., 1934.o 134¾ 135 134 -134 - .... 134~-184~ .Peo. & E., 1st, cons .. 4 100 -101 100 -101 100 -101 96¼- 98½ 9'7 - 97 9~- 98¼ 98 - 98½ 97 - 97¼ 99¼- 99~ 97¼- 99 96½- 96Jf! 05 - 9B Incomel!I, 1990 . . . . .4 78 - 80 79 - 80 78 - 79~ 72 - '74½ 69 - 73 72 - 74 70 - ~¼ 72¼- 78½ 73¼- 73¾ 72 - '74 72 - 73!,,j 71)4- 73 (JI.Lor.&Wheel,,'33 .. ~ 115¼-115¼ ... - ... 112¼-ll.2¾ . . - •. .. Col. lllid. 1st, 1947.... 4 74!1:(- 79¼ 76¼- '78 76 - 77¼ 75¼- 77¾ 74½- '76!14 76 - '78 71 - 74¼ 73½- 75¼ 72¼- 7472 73½- 76¾ 74½- 75~ 75}(• 76~ Col. & So.-lst, ,i.'!l9.4 93½- 06½ 94 - 94¾ 93~- 94¼ 9311:(- 94¾ 93 - 94¾ 98 - 9'1¾ 93!,ii- 94 91½- 92:ki 91 - 91% 91 - 93 91¾- 93 91¾- 92¾ Delaw.&H.,con.,'16.4 - .... .... - .... 107 -110}4 107¾-110 108 -110 107 -110 ➔.i 107¾-110 107¾ 1!2'1,1i 106 -112½ 1st Pa. Div., 19l'f ... , .... - .... 138 -133 .... Alb.& Susci.,conT., 3¼ .... - ....... - .... .... - .... 107¾-109 105 -111¼ 111 -117 109 -113 111 -113 110 -115¾ 110¼-113¼ 110 -11~ 112 -118 ll!lt, ,iuar., 1.906 .... 6 102¼-10~~ ..•• - •.. ... Rensael. & Sara.1st 'f .... - ... .. .. - ........ - .... 133!,ii-183½ Oel. Lack. & W.-'07.1107 -1om .•.• - ••.. 104¼-104¾ 104¾-104'¾ . ••. - •••. . ••• Morris & EHex, lat.1 128~-125x, .••• - . .. 124 -124 123½-126¼ .... - ••.. 120 -120 .. .. - •... 119¼-120½ Consol., ,iuar......... , 126%--127 .... - •.•. 121 -121 .••• - .... 122 -122 .. •• !f.Y. L. & W., l ■ t .... 6 126~-126!,,j 126¼-12614 126¼-126}:i .... - •••. 121¾-121~ .•• - •.•. 102 -102¼ 102~102¾ 102¾-102~.... Term'I & lmpt .. . .. 4 .... - . ....... N.Y.L.&W.,con.'!i3.~ 118½-114¾ .... - .. .. 112 -112 .••• - ....... , - .... 108½-108!,§ . . . • - .. • . .. •• ~yr. Bin,ib. & N. Y .. ,- 104¾-104!,4 - .•. . 101¾-101~ . .• - ···: . ••• - •••• 102¾-102~ ..•• - .... .. . enver & Rio GrandeConsol., 1936 .. ...... 4 100 -100¾ 99 -100¾ 99¾-100 100 -101 100 -100¼ 100¾-lOlJ,4 99½-100½ 99¼-100 99¼-100¼ 99 -10~ 98½- 99¼ 98 - 99M lat, conaol., 1fJ36 .. 4¼ .... - ... . t00~-106~ 108 -108 - . .•. . .. - .... . ... - .... . ... - .••. 106¼-106¼ ... - ••.. t06 -106¼ .... - ....... Improvement, 19'lS.~ 108 -108 108¼-109 107 -107 108 -108 107 -107!,4 .•• - ••• 107 -107 ...• - .... 106 -106 106%-106¾ 106¼-106¾ 107 -107 Rio Gr. Weat,, l ■ t... 4 ll7¼-100 98 - 99'A 97!,a- 98 961'- 97¾ 96¾- 98 97½- 98¼ 94¼- 96¼ 95 - 95½ 94'4- 95~ 95 - 961,4 95¾- 96 95¾-96 Mort. & coll. tr.,A.4 90 - 92 90¼- 90~ 90 - 90¾ 88 - 89½ 86½- 87 88~ 89 ~ - ~ . • • • - • . . 89 - 89 86¼- 86¾ 86~- 88 86}(- 88 .Det.&Mack.-l ■tllen.4 .... - .... 99~- 99~ - •••••• •••• - •••••••• - •••• 92 - 92¾ ..•• Gold ................... . 4 95 - 96 . . . • - . . . OOM- ~ . . . . ... - . . . . - . . . . 90 - 90 91¼- 92 93 - 98 .. • . - •••• Det1'olt SouthernOhio So. Div., ht ... 4 93 - 98¾ 92¾- 93 - ••• 8S - 88 89½- 89¼ •.• • - •••• 873'- 89¼ .... - ••. . 86 - 86 Duluth & I. R.-t ■t ... :i 113¾-118~ 113½-114 - •••. 112 -113¼ 112 -118 .... - .... 113 -113 .... - .... 114¼-114¼ 112~-112~ 109~-lll!,,j 110½-1103' Re,ilstered .......... . 6 .... - ... . 112~-112¼ .... - ... . . ... •••...•• - ........ - ••••.•.• - •••..... Dul.S.S.&Atl.-193,-.~ .... - ... 118 -113 118 -113 118¼-113¼ . ... . . . - ... ... .. - ••.. 112¼-112}9111 -111¼ .•.. - ..•• 112}(-112¼ Ll3J4-113¼ El,i. Joi. & E.-bt, ,i .• ~ 118!,fr-119¼ 119~11~ 116~-116~ 116¾-116¾ . .•• - ••• . 116¾-116~ 11~-1163' 117 -117 ..•• - •••. 1.17 -117 114¼-114¼ . .•• - •••• Erle-l ■t ext., 1947 . .. 4 1Cl7½-107¼ ... - .... •·· - •· ··•· •··· •··· - •••. • •·· 2deJLt., 1919 .......... :i .... - ... 114 -114½ . .•• - •....•. - •••..••• - •.• ... - •.•. ... - ...... ., - .... 109½-109½ 3d, ext., 1923 ....... 4¼ - ... . ... . - ... . 108M-108J,4 .. .. - ••.. 107!,,(-107¾ .••• - •••. . ••• - ••• . 108¼-109¼ .. .. - . ...... - ••• . .••• - •••• 4th,ext.,1920 ...... . 6115}(-116!,,j ... - . .... - ....... - ........ - ....... - .... LlOJ.ii-110¼ .•• - ••• . . . . - •••• lat, conaol., ,iold.. . 1 188 -133 184"-184~ 130 -131 130 -130¼ 128¾-131 lSl -181 181½-13 !¾ 130½-130~ 127 -128 128¾-129¾ 128'-(-129 128~128M :lat, con ■., ,r., fund .... 7 - . .. 133 -188 ... - ... . .... .. - •....... . .. - • . . ... - .... 1283,(-128½ 1at con. prior lien, ,i.4 99),4-102 1C0¼-101U 100½-101~ 100¼-101½ 100 -102 lOlM-102 99¼-101 99~102 99}(-100¾ 99!>!!-100¾ 99'4-100¾ 99 -101 Re1rl•tered ..•...•... 4 - . . .. . . . - .... 100¼-100¼ . . • • - • . • . . . . • - . . - . . • • .. . . 99½- 99¼.... - ••.. 1 ■ t con. ,ien. I., '96 .. 4 913'- Q8½ !l2¼- 98 91 - 93 91 - 93 90 - 93 921'- 93½ 89½- 90~ 89¼- 91 89½- 90¼ 89¾- 91¼ 89¾- 90¾ 89 - 90¾ Reirtatere.i .......... . 4 . . .. - • .. . . • • • - ... , . . . • - • . • • . . . - . . .. .. . - • . . - . .. . .. .• 90 - 91 Penn. coll. tr., 19:il.4 95}(- 98 94¼- 9~ 91 - 93 91½- 92¾ 92~ 94 91 - 94M 94~- 95¼ 9J¼- 91 UO - 91½ 90½ - 92¾ 90}(- 92 90 - 91~ .30-yr. conv,, 19~3 . . 4 107¾-109-U 104½-108 104½-106'-' 101 -106~ 100~-108 102?5-107'-( 102 -104¼ 104 -107¾ 106¼-109 103 -108}( 101½-104 100½·104 Buff.& S.W., ,r,,'08.6 .... ·- .... 101¾-1~ .•• • - ...... .. - •... •.• . .. .. - ...... - •••. .. .. - •••• <lhlc. & Erle, ht, ,r . . :i 1.21 -122 121½-122'4 119 -121¾ 119*122 118 -120½ 119~-~ 119¾-120 119%-119~ 118½-120 117 -120 116!'i-117 11~-117~ .Jefferson HR., lat .. 6 .... - ....... - ........ - ... .. .. - ........ - .... - .... . ... - .... 100 -100 101½-101¼ Lon1rDock,conl!l.'3~.6 .... - .... l 85¼-135½ .•• - •••..••• - .•. ..•• - •.. . 185½-136¼184 -184 138¼-138J.6 .••• - •.•• 129 -129 Dock & lmpt. Co ..... 6 .. . . - . . . . . . . . - . . . . . . . . - .. . . . . .. - ... .... - .... 109¾-109lfl.... Mldl'd of N. J ., lat ... 6 108½-109!,4 .••. - •••. 107 -107 107 -107 - . . . . ..• - .... 11 !1¼-104¼ ... ft. Y. Sus. & w., re1.~ 116~116¾ 116 -116 116½-ll~t 116 -116½ 115 -1173' 116>'-116~ 117 -117 116 -116 115¾-115~ 116~-116¾ .. - .... 115~-115}.( 2d, 1937 ... ...... . 4¾ .... - .... 103 -103 .... - ........ - ••....•• - . .. . . .. • - •.• . 100 -100 100 -100 100¼-100}.( Gen., ,iold, 1940 ... . :i 110 -110 109 -109 107'¾-107½ 106 -107½ .. . 105 -10~ 106½-106½ .... - ••• . . •• - •••. 104¼-104½ .•. - •••. 102 -102 Term'I, lat, 1949 . . :i .... - ......•. - .... 115¼-118 - •••. . . Wllk.&E., lat,'4'l.:i .... - .... Lll¾-112 113 -113 113 -113 110 -110 .... - •••. 107 -111 109 -109 110 -110 Evan.&lnd.-l ■ tcon.6118 -118 . .•• - - ... . 116 -ll6 .. •• - - •.•. 118 -118 lETana.&T.B.-Uons .. 6 .... - ....... - ... . 118 -118 - .... 117 -117 l ■ t ,ien., 1942 ....... . 6 .... - ... .. ... - .... 109¼-109>1! . •.• - .... 107¾-109J.6 .••• - ••. 108 -108 108 -108 106*106½ 1063,6-106½ Sall. Co. Br'cb, l ■ t . . ~ 106%-106¾ 106!4-106¾ .• - • . • • ••• - ••• . . .• t. W • & D. C.-ht.... 6 112¼-lU¾ 118 -115 112¾-114 112½-114}( lll'-(-115 lll'-(-112 111 -113 113 -118 111 -111 112 -114 113 -114½ 110 -110½ Ft. W. & R. Gr.-bt ..4 89 - 89 90 - 91 89 - 90½ ..•. - •....••• - .... 87M- 87¾ Si - 87 - ••.. 84 - 84¼ 86 - 86 88¼- 88½ 89½- 90 Gn.lv. H. & H. o1'S!i.. 6 .. .. - . .. .. .. - .. . - ........ - .... 103 -103 lQOM-100¾ 99½- 99½ 98½-101 108 -103 G.No.-C.B.& Q. cl.tr.4 99¼-101¾ 99¼-101¾ 99¾-100½ 98¼-1~ 98½-100 99½-100½ 97 - 981' 97¾- 99 97¾- ~ 98>4-100 99 -100¼ 98 -100}( Re,rlatered ........... . 4 99½-101¼ 100 -100 98M- 99 97¼- 99~ 97:Ja- 99 97'-(- 99¼ 97¼- ll8 97 - 98M Q7~- 98¾ 97¼- 98~ 98 - 98¾ 963'- 99 uU & Sh. I. lat ret..:i 102 -103 102¼-104' .•• • - •.. 104 -104 104 -104 108½-105¾ 101½-101½ 102 -102 102 -106 102½-103 104 -10i 102¼-103¼ Hock.Val.-ht,cona.4341~-lOll¼ 108 -109 108 -108'4107¾-110 106!14-108 11J7M-108.¼i 104¾-106 10(%-106¼106 -106!4106 -107¾106¼-107 106M-107½ Re1rlstered .. ........ .4½ .... - ... . .... - ........ - ... .... - ... . 103 -103 C. & H. V ., lat, ext.. 4 10()¾-100¾ 101¼-101¼ .•• - •.•. 100 -100 - ••• . 100)4-100~ 100 -100 . ••• - ••.. .... - .... 98½- 9~ ... - .... Col. & Toi. 1 at, ext.4 .. . - ... . 100 -100 100 -100 .••• - •••. . ••• - ....... - •••. 101¼-101¼ ..•• - ••. 100 -100 llllnola Central1st gold, 1951 ......... 4 ... .... . ... - .... 109½-109½ .•• Real ■ tend ......... 4 . . .. - .... 10!1¼-1043' . .. . 1st. aold, 19~1 ...... 3 ½ .... - .... 100 -100 - ••• . 99%-100 .. .. - .... .... Re,iist.,red ... ... ... 3½ . . . . - . . . . .. . . - .. .. 95½- 95½ . ••• - • • • . . . • • Extended 1st 19:il.3½ 100¼-100½ ..•. - .••..... .. 101}.(-101¼ 99¼- 99J.6 .... - ........ - •••• . ....... ~' Gold, l 9~!i............. 4 . . . . - . . .. 107~-107¼ 106½-107 104½-105¾ . . • • - •••. 105 -106 106 -106 L04½-104½ 104¾-104M 101 -101 102¾-101!4 103 -104 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 92 RAILROAD BONDS. 1906-Conttnued. BONDS. JANUARY FEBR1 RY. MA.ROIi. APRIL. MAY. JUNE. JULY. AUGUST. BEPT'BER OCTOBER. NOV'BER. DEO'BBB... - - - - - - - - - - - - - - - - - - - - - - 1- - - - - 1 - - - - Low.High Low.High Low.High Low.Hll{h Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High llllnol8 Central-(Oon.l Gold, 19~3 ............ .4 10~-106% 1()4¾-106¼ 105 -105 105 -105':( 103 -104~ 104¾· 105 104¾-105 104 -lOi¾ 102¼-104¼ .. •. - ... . 101~-104 101 -108~ Rea-l ■tered .... ..... .. 4 . . . . - . . . . . . . . • . . . . . . . - .... 100 -100 . . . • - . •. . . . . • - . • . . . • •• - • • •. . . • - . • . . . . • . Cal.r o Brlda-e, 19~0.4 .... - ........ - . .. . . .. - ........ - . . . . . .. - ........ - ... . 105 -105 ..• . - ....•••• - .. . .... - ••••.... Louin·. Dh., a-old.3½ .... - ... . .... - ... . 91¼- 9~ 91¼- 92¾ .••• - ••••...• - •••. 91¼- 92¾ .••• - •.•. ~ - 92" 92¾- 92¾ 93~- 93¾ ..•. Omaha Div., l ■t, a- .. 3 .... - ... .... . - ........ - .. .. 78¾- 78¾ .•.. - ........ - •••...•• St. L. Div., 19:St •.... 3 .... - ... 8 ~ 82¼ •..• • ..•..••• - ••.. ~ 82¾ •••• - ••• • •••• - • ••• •••• - ••••••• • - •••• 80 - 80 Gold, 19:St ........ . 3¼ ... - .... 9~- ~ •••• - ••••• • •• - •••• .••• - ••• .• ••• W eetern llne ■, 1st... 4 107.,.-107" . • • • - • • . . • . • • - . • . . . ••• - .•.. 102 -102 . . . • c.st.L.&N.0.,19~1.~ .. .. - ........ - .... 128¾-123½ .•• • - .•.• 121 -121 120%-123 120%--121 ...• - .... 120¼-1~ .••• - ..•. 121J4-121~ Memphi• Div., let.4 .... - ........ - ........ - .... 101¼-101¼ •••• - •.•..... Ind.Dec &West.-let.:J 108'¼-108:U .... - ••••..•. - ... . 106¾-107 .••• Ind. Ill. & 1.-ht,':J0.4 99 -100 99¼-100 100 -100 100 -100 100 -100 .... - ... 100 -100 •••• - •••. 98¾- 98¼ 99 - 99 .... Int.&Gt.No.-let,'19.6119¼-120 119¼· 119½ 118¾ ·120 - ...• 116 -117 117 -117 116¼--116¼ 116 -116 116 -11~116 -116¾ .•.• - •... 115 -115 2d, 1909 ......... ... .... :} 100 -102 lOlll:(-102¾ 98 - 99 98 - 99 98!1:(- 99!'-( 98¾-10<% 102 -102 102 -102 . ... - •... 99)4- 99!'-( 98½- 99¾ 99¾-100 3d, 1921 ... ........... . 4 . . . . - . . . . 80 - 80 75)4- 75¾ . . • . - • • •. 7734- 77¾ 77 - 79¾ 73 - 78¾ 73¾- 77½ 77 - 77 Jowo.Cent.-let,a-old .. :J .... - .... 114 -115 114 -114 112 -112 112¾-115 111¼-111% ..•• - •• •• 109 -109 ...• - ..... ~ .. - ........ - .... 111 -111 Refondlna-, 19~1 ..... 4 86 - 88 • .. - .••. 86 - 86 - .....•.. - •.....•• - •......• - ••.... . • - •••• 85¼- 85¼ ... - . . . 83¾- 8~ .... - •• .• K.Clty 80.-lst, 19~0.3 73 - 76¾ 74 - 75 74 - 75¾ 71 - 73½ 70¼- 72¼ 72 - 73 72¾- 78 72¼- 73 71¾- 72¼ 70¾- 71¼ 70 - 71~ 70¼- 71¾ L. Erle & West-ht ... :} 117¼-118½ 11$¾-119 117%-117¾ 115¾-115¾ •••• - •••• 118 -11B 115¾-1157<1115 -115 lH¾-lH¾ 114 -115 115 -116 116 -116¼ .2d ............. ....... .... . :J 113¼-113½ 113¼-113¾ 113;( -113¾ .••. - .....•• - .• .. 112¾-112!'-( 110!'-(-110~ .••• - . ... 111 -111 Northern Ohio, lat .. :J 117 -117 .••• - .•....•• - •.•..•.• - .••...•• Leh. Vall. (Pa.)Gen. cons., ~003 .... 4 .... - .. . . .... - .... . ... . ... 98)4- 98¼ ..•• - •.•• 98¾- 98¼ •••• •••• 95 - 95 .... Leh. V.N. Y .-let, a-u.4½ 101:1¼ ·110 110¾-llOJc 110 -110¾ 109¾-110¾ 110 -110~ 111 -111¾ 109 -109% 109 -109% •••• - .••. 109¼-109½109%-109¾ Leh. V. Ter.-let, a-o .. :J 120 -120 ..•• - •... J.20%-120¼ 118~-118¾ .••• - ••.. 116 -116 . .• . - ... . .•.• - •••• Leh.Val.Coal-lat,p.~ 112 -115½ 118"-114 •••• - •... 112¾-112% .•.. - ••.. .... - ........ - •••• Leh. & N. Y.-lat, ao.4 .... - ........ - ... . .... - .... 96¾- 96¾ .••• - •••. 95¼- 95¾ 96¾- 96" EI.C. & N., lat, pfd .. 611~113¼ ... - ........ - .... .... Goar. a- ............... :J 106¾-105¾ .... - •••..•.• - .... . .• . Lona- 18l'd-lat, 1931.:i .... - . .. . ... . - ... 117 -117 114¼-114½ 115 -115 115 -115 .••• - •••. 113¾-113¾ 114)4-114¾. Gen. mort., 193S. ... 4 101~102!,4 101¼-102 102 .:102 .... - ..•. 101¼-101¾ 98¼- 99 .••• - • • .• 95¼- 95½ 08¾- 98¾ 99 -100¼ 90¼- 99% 96½- 96¾ Unified, 1949.. . ...... . 4 1017<1-lOl~ 100¾-100¾ 98 -100 98 - 98 97 - 98 96 - 97½ 96¾- 07 .... - .... 96¾- 96:% 96 - 96 96½- 96¼ Ga. ref., a-•• 1949 .... 4 101¾-102½ 102 -102¼ 99¾-100% 99!'-(-100!'-( 99 -1013( 99¼-1~ 99¼-100 100 -101!)4 99 -100% 99¼-101¼ 9~- 99¾ 98¾- 99¾ Rea-i ■ tered ...........4 . . . . - . . . . . . . . - . . . . 99 - 99 - •••• . •. B'klyn & Mon., lat .. :} .... - .. .. . .. - .... 108¾-103% .••• - •••..•.• - ••• . 101¼-101¼ N. Y. &R. B., lst .. G 111 -111 ...• N.Y.B.&M.B.,cons.,~ .... - ........ - .... 110~-110¾ No.Sho.Br'h,lstcon.:J .... - .... ... - ... . 109 -109 Loole'a & Ark.-let .. :S 105 -105 - •••. 105 -105 .••• Looi ■ • & Na■h.-Gen .. 6 118¾-120¾ 119¾-120 118¼-118¾ 119 -119 .••• - •••• 115¾-116¼ .••• - •••• 114¾-115¼ 116 -118 117¾-119 .... Gold, 1937............. ~ 120 -120 121¼-121½ ... - ........ - •••..... - . . . . . . •• - •••. . ..• - •. 116¼-118,,i ..• Unified, a-old, 1940.. 4 108¼·104¾ 103½-104 102¾-104~ l~-103¼ 102¼-108% 102¾-104. lQ0¼-101¾ lQ0¼-102 98¾-101¾ 101¼-102½ lUlJ.(-102 101¾-10~ .Rea-letered . ......... .4 . . . . - . . . . . . . . - . . . . . . . . - ... . 100 -100 101 -101 . • • • - ••.. 101¼-101¼ . . • • - • • • • . • • - . . . . . . . . - . . . . . . . . - • • • . •• • Col. truet, a-., 1931 .. . ~ 115¼-115¼ . . . • - .... 115 -115 . . . . - .... 113 -113¼ lll~-111~ . . . . - . . . . . • • • - • • • . . • • • - • • . . . . • • - • . • . . • • • - • •• . . . . . .~ Coll.tr •• ~-~011,1923.4 98¼-100¼ 99¾-100 99¾-100 97¼- 98 97 - 97!'4 97¼- 98 97¼- 98 97¼- 98¼ 97¾- 97¼ 95%- 96!'-( 96¾- 97¼ 97 - 98 N. O. & Mob., lat .... 6 128 -129 ~-12~ 129 -129 129~-129¾ .•. - •... 129M-130 .... - ..•...•• - •••. 127 - 127 2d, 1930 .............. 6 .... - .... 122¾-122¾ .••• - ••••.••. Pensacola Dlv ........ 6 .... - ........ - ... . ... - .... 107¾-107¼ .••• - ••••.... St.LouisDlv.,lat... 6 .... - .... 120½-120¼••·· - •••• . .•• - •••• l17¼-l17½ .... - ••• . 118 -118 .••• 2d a-old, 1980; ....... 3 .... - .... 71¼- 71½ ..•• Atl.Knox.&Ne.,let.6 .... - ........ - ... .... - ... . .... - ... . 116 -116 116 -116 ..•• Henderson Bdire,lat6 108¼-108½ .•.• - ••...... - . •....• - •••. .•• Penaac. & Atl., lat .. " .... - ........ - .... 112¾-112¾ . .•. - •··· 111½-111¼ Ken. Cent., 1987' ..... 4 99 - 99¾ 100 -101 100¼-101 100¾-1007,( 100 -100¼ 100 -100¼ 100 -100 98 - 98 •••• - •••. 99¾- 99¼ . .•• L & N & M &M,lat.4~ ... . - . . . 110 -110 108¼-108¼ . . . . - .••. 108!1:(-lOSM 108 -108 L.& N.-southJolnt.4 95¾- 96 95½- 96¾ 95¾- 96 96 - 96 96 - 96 96 - 97 95 - 98 97 - 97½ 97 - 97½ 96 - 97 93¾- IJ7 94 - 94 N.F.&S.,lat,a-u.'37.:J 116¼-117% .••• - •... ll~-114"i .. .. - ••.. 114 -lU .. .. - ••• . ... . - .... 111 - 111 •• .• . .. . .. - • . .. 114 -114 ... . Loulav. & Jeff. B'a-e.4 .. .. - .... 100:1,s-100½ .. .. - ... . 97 - 97¾ 97 - 97 .. .. - ••.. . •.. Manbattan-1990 ...... 4 103¾-103¾ 102¾· 103¼ lOS -103¾ 101 -101¾ 100½-101½ 100¾-101 100¾-101% 102 -102 101 -102 99¼-100% 100 -101 99½;-100¼ Metropol.Elev., lat .. 6 103¾-105 10~-105 105 -105% 105¾-105½ 105%-105½ 105%-106 102%-103¼ 103¼-103¼102¾-103¾ .... - .... 103¾-1~104¼-104¼ Mex.Central-Conaol.4 78¼- 80¼ 80 - 85 81¼- 83 78½- 82½ 77¼- 80 79¼- 80¼ 75¼- 78 75¼- 77¾ 76 - 81¼ 79 - 85 80¾- 84 83¼- 87 1at consol. income ... 3 24. - 26¾ 23¾- 26 23¼- 24¾ 20:ki- 25¾ 19¾- 22¾ 18 - 21¾ 16¼- 19 18 - 19¾ 18½- 22¼ 20¾- 27 23½- 277,i 25~- 28% 2d consol. income .... 3 16¾- 20¼ 18½- 21 20 - 20% 18¼- 20¾ 15¾- 18% 14¼- 17½ 14 - 16 U¼- 16 15 - 16¼ 15 - 19¾ 17¼- 20% 19 - 22¾ Coll. tru8t, 1907' . . 4¼ 98¼- 98% .••• - . . . . 98¼- ~ 98¾- 98¾ 99 - 99 100¼-100½ 101 -101 - •.• . 99¾-100¼ 100 -100~ 100½-IOO~ llllnneap. & St. L.Pacific Ext., 1 ■t . .. .. 6 . . . . - .... 120 -120¼ ..•• - •.•..... - .... 118 -118 ..•• let, con., 1934, 1r •••• :J us -114½ 113¼-118¼ .. •. - •... 114 -114 111 -111 112¾-1~ 11a -113 113 -113 111 -113 113 -114 110¼-110¼ 109 -109 l•t & rel., 1949 .. .... 4 96¼- 97 96¼- 97 94¼- 94¼ ..•• - • • •. 90¼- 91 93¼- 93¾ 94 - 9i 94%- 9i¼ 92¼- 9!1¼ 03¼- 9!!,-4 02·· - 92~3 . ... DeaM.&F.D.193~.4 97¼- 97¼ . ... - .... . ... - . . .. 97 - 97 - ••••.••• - I M.st.P.& s.s.M.,'38.4 101 -101 101 -101,a 10Q¾-lOO¾ 101 -102¼ 102¾-102]4 102?,d-102),( .... - Mo. Kan. & Texas~ 1at, srold, 1990 ....... 4 2d, Income, 1990..... 4 let, exten •• It•• 1944.:J ht & ref., 2004 . .... . 4 Gen. 11. f., 1936 ..... 4~ St. Lool8 Div., let .. 4 Dall. & Waco, lat ... :; K.C.&P.,let,1990.4 Mo. Ko.n.& Ok., 1st.~ M. K.& T. ofT., lat.:J Sher.Sia.& S.1st, a-o.~ Texa8 & Okla., lat.,6 Mo. Kan. & E.-lat.:J Dll11■ 011.ri Paclftc-3d, , letconeol ... . ........... 6 Trust, gold, 191, ... .:J Rea-lstered..... . •... :J 1st, collat., ar,, 1920.:J 40-yr. 194~, a- ........ 4 Cent.Br'ch Ry., l ■t.4 Pac. of Mo., let, ext.. 4 2d, 1938, ext ....... . :J St.L.&I.M.a-en.&l.a-.~ Unlfy.&ret., 19!19.4 Riv. & G.D., 1st .... 4 Ver. V.I.& W.,l ■ t.3 Mob. & Bir., prier I ... ~ Mob. J & K. C.-l ■t . . :; Mob.& o.-New, 192'7.ti Gen. mort., 1938..... 4 100 -103 100¼- 102 89 - 92¾ 89 - 91 107 -107½ 106ll:(-107½ . . . . - . . . 88 -· 91¾ 100 -101~ 88½- 89½ 106 -106½ 89 - 90¼ .. .. - . ....... - . . . . 89 - 89¼ 98¼- 93¾ 93¼- 94 93¾- 93¾ 107 -107 100 -100 .... - .... 95¼- 96 .... - ... 108¾-109¾ 109%--109¾ 109 -109 107¼-109-U 109¾-109% 106 -107¾ 101 -102½ 86¼- 90 105¼-107½ 88 - 88¾ 88 - 89 90 - 90½ 100 -102¾ 85 - 883,ti 10$¼-107% .... 87 - 89 90 - 90 99¼-10<% 88¾- 89 105 -106 87½- 87¼ 88½· 89¾ 88 - 88 •• • ••• - •••...•• - ••.. 101 -101 99¼-100¼ 88¼- 89¾ . ... - ..•. . . •. - . . . . 86½- 86!'-( 88¼- 88¼ . . .. - .... ~-100¼ 100 -101 99¼-100:Jd 99¾-100 96¼- 98 86 - 87½ 84¾- 86¼ 85 - 86 86 - 87¼ 86¼- 88 104 -105 105¼-105Xi l05!1i-105~ 102 -102½ 103¼-106 . ... 83¾- 83¼ 82~- 887,,~ 86 - 86½ 85 - 88¾ 85 - 86¾ 86¾- 87¾ 87~- 88:ld 86¼- 90¼ 88 - 90¾ .. .• - .... 88 - 88 . ... - ... ... . - .... 89 - 89 - •• • ..... - ... . . .. 96¾- 96¾ . . •• - ... . 96 - 96 ... . - . . ....• - •...•.•• - ••.. 9! - 94 108¼-108½ 106¼-107 107 -107¾ 106¾-107 .• •• - •....... - .... 105 -107½ 104:1(-107 105¾-107 106 -106~ 106M-107 105 -105 ..•. - .... 108¾-109¼ 105¾-10~ 105 -106¾ 105 -lOtl½ ...• .... - ... . .... - . ... . ... - . ... 108¼-108¾ .• •. - . . . . ... - •••. . ... - . . . • • • 108'-(-108¾ 109¼-109½ 106 -106 105:1(-106¼ ..•• - ... 101¾-101¼ . ..• 115¾-llf>¾ 115¾-116 115¼-116 113%-113¾ 113¾-113% . ... - . ...... . - •••. 110 -110 lll¼-112 112 -112 . ... 103 -103~ 103½-103¼ 108 -103 104 -104 101 -101 101~ 101¾ 101¾-102¾ .••• - .• .. 102¾-102½ 103 -103 123½-125 124 -12' 122¾-124½ 121¾·123 120 -120½ 120½-121 ...• - .... 120 -121 120!,.(-120).( 119 -121½ 118 -119Xi ll9¾-119% ioo -107 107 -10~ 104 -lOi½ 103½-lO!l¾ 103¾-104,e 105 -106 103!'-(-105 105 -105½ 103 -103¾ 103¼-lO!l¾ 104: -104½ 104¾-105 104 -104 107¼-107~ .• .• - . . .... .• - ... - ..•...•• - •··· ••·· - : .. • • •·· 107)4-108~ 106 -106 106 -106½ 108 -106 103%-1~ lOb -106¼ 105 -105 102¼-103¾ 104 -104¾ 104 -105¼ 10!1 -105¼ lOi¼-105 93¼- 9i¼ 93¾- 94¾ 91 - 92]4 92¾- 93 92¾- 92:Jd 92¾- 93 91¾- 92½ 92¾- 93½ 90%- 92 UO½- 91Xi 91½- 91½ 90 - 90 97¼- 99 94¼- 95 96 - 97 97 - 97 94 - 95' 95 - 96- 94 - 95 93 - 93 94½- 94½ 94¼- 94¼ 94½- 95½ . .•• - ..•• 104J,t-105 •.•• - •....... - .•.. 103 -103 ..•. - ..... •• - ..•...•• - •... 101:)s-101¾ ..•• - ........ - .....•.. - .... ..• . - •••• 119 -12~ . . . • - • . . . • • • . - • . . . . . . . - .... 116 -116 116¼-118 . . . • - • • . . . • . . - • • • . . . • . - • .. 116 -117¾ 116¾-117'4 116!'-(-117¾ 113 -115¾ 112 -114 114 -114M 114 -114½ 114¼-11'¼ lli¼-115 111¾-113½ 118¾-114~ 113~-U! 92¼- 93¼ 92¾- 93½ 92¼- 98 91¾- 93}-.( 91¼- 23¾ 93 - 94 89¼- 92¾ 89¼- 91 89¼- 91 90 - 91% ~ - 91~ 89§(- 91¼ ~ - 95 94¾- 96 95~- 95¼ 94¾- 95¾ 93¾- 93:J4 93¼- 94~ 92¾- 93¼ 93 - 9i 93 - 94 93¾- 94¾ 91¼- 93 92 - 92¾ ·· ~ - ........ - ........ - . ... 107¼-107¼ .... - •••..••• - ••••.••• - •••..•.. - .. . ••• - • •. . . • •• - •... 113 -113 113¼-115% • • •• - • •• . . . . • - . . • . . • . • 9'¾- 97 •••• - • ••. 96 • 97 96 - 96 •••• - ••••.••• - •••••••• - •••• 96¼- 98 98 - 98 98 - 98 ...• - . ... 9~ - 98 l26¼-l26:l-6126¼-~ 126M-127 126 -127 126 -126 •••. - •••.•••• - •••• 124¾-125~ •••• - ••• . .••• - •.•. ll27¼-127!rli . ... 98M- 99 ..•• - ........ - ... . .•. - ......• - ........ - ... . 94¼- 95 •••• - •••••••• - •••. 93 - 98 94 - 9i 98 - 93 Montarom. Div., let..3 .... - •••••••• - .••• llS¼--113¾ . •• - •••• 114¼-114M 114¼--114:¼ •••• - •••••••• 8&.L• • Calr-. col.tr.4 . • •. - . . . . 98 - 98 06 - 95 • • • • - • • • • . • • • - • • • . . • • • - . . • . 92~ 92~ • • • • - • • • • . • • • - •••• https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis • RAILROAD BONDS. 93 1900- Continued. BONDS. JANUARY FEJ3R'RY. MA.ROH. APRIL. MAY. JUNE. JULY. AUGUST. SEPT'BER. OCTOBER. Nov'BER. DEC'BER. Low.High Low.High Low.High Low.High Low.High Low.Hl!lh Low.High Low.High Low.High Low.High Low.Hiirh Low.High -----------·Ch.& 118 !Ca■h. St.L.-l ■ t.'7 ~::::~•~•;.~~~:::::: :~ - 119¼ 119¼-119¼ 119½-119½ 119*119¾ 115½-119 ~:~¼=l~~~ ii!~=ii!¼ ::.~ =l~~ :~½=l~~ - ... . 115!,.(-lllS~ 116¼-116¾ 115½-115½ ..• - ..•. 113½1-113¼ ll8 -118 ~:~ =~~ .. ~:.~ =l~~ :::: = :::: ::: = ::: · ::.3¾=1~~ .l:.~ =l~~ .. e¼=l~~~ ~:~.¾=1~~~ National of Mexico/ Pl'lor lien, 19~6.... 4¼ 102½-10~ - ••.. 105 -1r5 - ........ - · . . - ..•. 101½-101½ .. •• - .••...• - ••..•••• - •••• LOZ¼-108 1st, consol., 19~ t.. 4 85 - 87 86 - 87¾ 85 - 86¼ 83 - Si 83 - Si½ 8:l¼- SIS 83¼- Si½ 8:l½- 85 85¼- 86 82!,(- 8-! 183½- 86 84 - 85¼ If. Y. Cent' I & Bud. R.Gold, 199'7 ........... 3½ 98 - 99}4 98 - ·99!}.( 97~- 98¼ 97¼- 98¼ 97¾- 98¾ 98¼- 98% 95½- 96¾ 91¼- 95¼ 92 - 92~ 92¾- 95½ 94¼- 95¼ 92¼- 96 Relllstered ... ..... . 3 ,, 98!,.(- 98½ 97½- 97¼ 97¾ - 97½ 94½- 94XJ 92 - 92 92~- 92~ 13¼ - 95½1 _ •• - • • • 93¾- 98~ Debeu., a-., 19:14 ..... . 4- 100¾-101¾ 101 -102 101 -101~ 101 -101¾ 98¼- 99¼ 99 -100¼ 99~-101½ 100 -101 100 -100¾ 1!9¾-102:U 98¼- 99~ 98 - 99¼ Rea-hitered .......... .4 .... - .. . .... . - .... 101 -101½ 100¾-101!,ji .... - ......•. - ......•• - . . . . Lake Shore, coll ... 3½ 89¼- 93 88%- 90¾ 88¾- 89½ 88 - 89½ 88 - 89½ 89¾- 00~ 88 - 00¾ 87~- 88½ 87¼- 88½ 87 - 88 87½- 88!1:t 87½- 89 Rea-lstered ........ 3½ 91 - 91½ 88 - 00 88 - 88 88¼- 88½ 8~- 88 88½- 89 88 - 88½ 85¾- 85½ 86 - 88 86 - 86!1,( 67½- 88 86½- 86¼ Mich. Cent'l, coll .. 3 ½ 8~- 92½ 89¼- 01 89½- 89½ SP¾- 89¾ 68¼- 89¾ 89¼- 90 89¾- 90 88 - ~ - •••. 86¾- 88 ti6¼- 87½ Rerdstered ......... 3¾ OOJ.4- 90¼ .. , - ... . 86',i(- 89 ..•• 88¼- 88¼ Beech Cr' k, hit, a-u .. 4 . ... - . . . 105½-105½ . .•• - ••...... - .......• - •• . . 104 -10!&- 102 -102 .... - .... 102).(-103¼ ... • Mohawk&Mal,,lat 4 . ... - .... •··· - ... . .... - .... .... - ........ - .... 1n3 -103 N. Y. &Pot., lst,a-u.4- .. .. - .... 104½-104½ ... . - •....... - . ... .. .. - ... . 100 -101!,,C West !3hore, ,iuar . .. 4 107 -109 107 -108 106½-108¼ 1051a-108 105½-lOS 107 -108 105 -105:J4 lOi -106 L©4¾ ·l05¾ 105 -106 105 -106~ 105 -106¾ Rea-tstered ... ...... .. . 4 106½-107¾ 106½-lv1™ 106 -107 1()4¾-106¾ 105½-107 lOi -10'™ 103¾-105 103!,,C-lOi½ 103%-104¾ 103¾-104¾ 10$¾-105 l02½-105¾ L.S.&M.s •• ,i., '9'7 .3"' 100 -100½ 100_!4-101¼ 99 -lCiO½ 100 -100 98 -100 97 - 98 96¾- 97¾ 96 - 97¾ 95 - 97!14 95 - 96 96 - 96¼ O! - 96 Rea-lstered ......... 3½ 99¾- 99¾ 99 - 99 99 - 99 9 ¾- 98~ 96~- 99½ 9™- 97¼ . . .. 96 - 96 . . .. - . .. . 98½- 98xi 93 - 93 Debenture, 1928 .. 4. 100*101¼ 100½-101¾ 98XJ- 99¼ 96~- 99¾ 96¾- 98½ 97½- 99¾ 99 - 99M 99¼-100¾ 97¾- 98½ 97¾- 99¼ 98¾-100 97¼- ~ · Rea-18tered ........ . 4 96¾- 96¼ . ... - .....•• •.. • 98¾- 98½ Det.M. & Toledo .. 7 ... - .... 101¼-101¾ .... - .....• - ... . 99 - 99¼' . ... Mn hon. Coal RR ... 5 . .. - ... . 12~-122¾ 125½-125½ .•• - .... 107;(-107!,.( . . . • ••. . 101 -104 Mich. Cent., 1909 ... 6 ... - .... 118¼-118¼ . . • • 1031 ........ -.......... :) 120 -120 . . . . - .... 119 -119 Rer;rbtered ......... O .... :.03 -103 - •.. . 104½-104½ . . . . 1940 .................. 4 .... J. L. & 8., 19:Sl .. 3½ .... - ·•• · 9-!½- 94¾ - . . . . 96¾- 96¾ 97 - 97 . . . • - • • . . 97 - 97 . . . . 95 - 95 llltJC., 19:12 . .... 3~ . ... - .... 97¼- 98¾ . ... - ... . 97 - 97 - . . . . . . . . - ... . 101¼-101½ . . • N.Y.&HaTlem .... 3½••·· .•.. - .... 113½-114 113%-113¼ 113%-113¾ lllM-112½ .. .• - •. .. 113¼-113:!4 Utlca & BI.R., 19~~.4 . . . . R. W .& o., con., 1st.ii 116 -116% 116¼-110¼ 116¼'-118 113¾-113¾ 113¼-114 114 -1u 104 -104 103¼ -1087/4- ... - . .. I N. Y. Ch. & St. L.-1 st.4 104½-105½ 11 5¼-105¼ 105½-106 108¾-10!¾ 104¼-106 104~-104½ 104½-105 104¼-104¾ 10..l -104½ 102 -102¾ 1021i-102¾ · 0!¾-102¾ Rea-istered . . -. ..... . .. 4 . .. - •· · N.Y.Jlil.H.&H.: :::: · ::: : ••. Bousntonic 193'7 ... ~ ... - ... 124 -125 N.Y. o. & w .• ret.,lst.4 1021}4-104¾ 103 -104 lOOXi-101½ 101 -lOll)( 100¼-101~ 100~-101½ 101 -102 101~-102 99½-100 100 -102¾ l OOM-101¼ 100~-101¼ Rea-lstered .. ........ .4 . . . . - . . . . - ... . 101 -101 101¾ 101½ . . . • - • • . 104 -104 . . . • Norf, & So.-lst, '41 .. ~ 107¾-109 108 -111 - ... . 110 -110 NoTfolk & Western- ••• . 129 -129 - ••.. 181¼-131¼ . . • • Genera1, 1931 ........ (:i 132¾-132¾ 13~-182½ ..•• - ••• . 132¾-132¾ ..•• Jmpt. & Ext., 1934.. 6 ... - ... . 130¾-130¾ ...• New River, 1932 .... 6 .. . - . - . . .. 12™·127¼ ~~~~1~~~ ::~~,=!i;:z;.::::: ~::~1::: :ir~~r 1::::1:: 1: :l::½ . ~~=1~~:· ~::=l:~ Pocab. c. & C.jolnt.4 94%- 95¼ 94* 95¾ 92 - 93¼ 91 - 92¼ ~e. Val. & N. E., lst.4 100½-101½ 101 -101¾ 101 -101½ l01¾-1U3 Northern PacificPrior Hen, 199'7 ..... . 4 104½-106>:S 104 -105;! 103¼-105 103 -lOHt! Rea-l ■ tered ... . .... 4 104 -106 104 -104 104 -104 . .. - .. . . General lien, 204'7 .. 3 76~- 7 ½ 76 - 77¼ 76½- 77>1, 76¼- 77 Re1rtstered ........... 3 75¼- 75½ 75¼- 75¾ . ... St. Paul-Dul. DIT .. 4 100¾-101 St, Paul & No. Pac .. 6 .... - ... . ... - •... 124 -124¾ 125 -125 St.P.& Doi., lst,'31.0 .... - . .. . ... - ... 113 -113 ... . 2d, 191 '7 ............ :! 109¼-lOOJ.. 110 - no 109¾-109¾ . ..• lat, consol., 1968. 4 ... Wash. Cent.Ry.,lst.4- .... - ... . ... - ... . No. Pac. Ter. Co-lst.. 6 115 -116 - •.. . 116¾-116~ ..•• - •.. . Ohio Rtv., 1st, 1936 ..0 .... - ... .... - ... . General, 193'7 ....... O 110¼-114¾ ... • Ozal'k & Cher.Cent.-1> . ... - . . . . . .. - ... . 100 -100% .. . Pacific Coast Co.-lst.~ 112¼-114 113 -114 lll¾-114 111 -112 P a nama-lat, s. t ..... 4>< 106l)J(-106¾ . .•• - .....•.. Pennsylvania Co.1st, COD801 ••• ...... ••• 4½ 106M-107¼ l06¼-107¾ 100½-107½ 107*108 Reellltered . . . .. .. . 4½ Gu,col.tr.ctfs '3'7 .. 3½ Gu. col. tr.ctf"s., B .. 3\+ 92!!3- 92¾ .. . - .. . . 91½- 91½ . .. Tr.Co.ctf"s,,a-u •.'16.3\t 97¾- 97~ 98 - 98 97¾- 98 96¾- 97½ Quar., 194-2, C ...... 3¾ . . . . - . . . . . . . . - • •• • · •• · Tr. Co.ctf"s.gu.'44.3½ ... - .. . . . .. - . . . . 90¾- 90½ . .. C.St.L.& P., lst.'32.:) 122 -122 119l,(i-ll9½ .. . Erle & P., Ser B ... 3~ 96~- 96¾ . .. - ••.. . ••• - ... . P.C.C.&St.L.,Sr.A4:l-! . ... - . . .. 112¾-112~ . ..• Serles B .• 1942 .. . 4~ 112¾-112¾ 112¼-112¼ . ..• - • . • 109½-109½ Serles D, 194~ ..... 4 Series E, 194-9 .... 3 x, 94 - 94¾ 92½- 92½ 92½- 92¾ .... P.Ft.W.&C .,2d,'1~.'7 . .. - ... . U?½-117½ .. .• - .... llS -118 Pennaylvanta RR.Real estate, 1923 .... 4 . ... - ....... Conv., arold, 191:i .. 3 ~ 93 -101 97¼-100¾ 96¾- 98 95M- ~ Rea-latered .. ...... . 3J.(i Oonv., ,rold, 1912 . . a!>!! 103½-105¼ 101 -l04lU 100 -101¾ 99¼-102¼ G. R. & I., ht, e:u.4 1. 108 -108 108%-10~ .... - •.. . Phil, Bait. & Wash .4 109 -109½ 110¼-110½ . ••. Rea-istered .. ........ . 4 ... Pere MarquetteFlint & Pere Marq . . fl ... . - . ... 118 -118 117 -117 112½-112¼ 1st cons., g., 1939.0 110½-110½ ..•• 110 -110 Pt. Hur. Div .• 1st . . a 111½- lllJ.t . .• Pitts. & L. Erle-2d, 0 Pitt&. Sh. & L. E.,let.O 118 -hO .. .. - . ... 120 -120 Reading-Gen., 199'7.4 11 •0U-102¾ 100¼-102 100),(-101 100 -100~ Rea-lstered ........... 4 100~-100¾ -·· Jersey Cent. collat .. 4 100 -101% 101 -101¼ 101¼-101½ 89¾- 99¾ Rt>2istered ........... 4 .... - .. . Phil. & Read., cone.ti .... - ... .. ... - .... 110¼-110¾ .••• ·D Consol., 1911 ....... '7 .••. - ... . ... - •.•• ll~-115½ .••• Rutl'd-0.&L. C-ht 4 99¼-100~ 99M-100 •••• - ••••••• . - https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 91 - P4 99¾-100 ~~~ =17:~ 92¼- 98¾ 92~- 93 99¾·100½ 100 -101 102!),(-104¾ 104 -105½ 102!.,!-1112½ . . - .... 'i5 - 77¾ 75¾- 76¾ 74¾- 75¼ 7il - 76 98 - 98 124¾-124¾ ~~=1~~~ ~:9:¾=1~~:: .::½= : : : :: =l=~i I - ... . ...• - ... . .!.08 -108 107~-108)4 .... . . •• 98½- 98½ 9~- 98¾ . . . - . . . . ..• - 91 - 93 116 -116 116 -116 106¼-108 96 - 96 :::=:~ 90¾· 92 93 - PO¼ 93 - 93¼ 92¾- 93¼ 92¼- 93 92¾· 93 99¾-100 99¾- 99¾ 99 - 99~ 93 - 99 103½-104~ 103¼-10~ l03 -104½ 102¾-103~ t03 -101 02¾ -103M 102½-103¾ 102½·102½ . . . - . . . . 102¾-103!,1, 102 -102¾100~-103 76 - 77½ 75¼- 76¾ 75¼- 76 7,;>-11- 76.½- 74¼- 75½ 73¼- 75~ 75~- 75¾ 75 - 75 98 - 98 - . . . . .. - . . . 95 - 96~ - ... 122¼-122~ 122%-122~ ... - ... . 123!13-123¾ ..• - - ••• . 100 -100 112 -112 i-::: : :::~ - •.. . 116¼-117 - •••. 118½-113½ ...• 98¼- 98¼ .. .• 110 -110 no -110 . ... - .... 103 -103 ..•• .••. - - . . . 97 - 97 - • • . 110¼-112 - . . . . 99 - 99 112 -112 109½-109¾ 107¾-108~ lOl½-106½ 105 -106 105¼-106 106 -106~ 106½-107½ 107 -108¾ . . . . - ... . 105 -105 . . . . ........ - ... il06 -106 ••.•.••• - ... . 94-94 90½- llO¼ 90 90 . ... - .... .. - •.•. 90 - 90 96¾- 96% 95½- 96 96:!4- 96¾ 96½- 96½ 97¼- 97:!4 97¾- 97lJ,I 97"!,4 - 98 89 - 89 - .... 118 -118 109½-109¼ 109¼-110 - . . . . 109¾-110 - •... 99-99 117½-117½ 117¾-ll~ 120¾-120½ 110 -110 . ... - ........ - .... 108½-108½ ...• . . . . - . . • . . . . • - ••. . U0~-110"½ . . . • - .... 109%-110 89¾- 00 90 - 90 . . . • - • . . . 00½- 92 .... - ••.. 119 -119 - . . . 106½-106¼ l0'¾-104¼ 95 - ~ 93~- 91¾ 92¼ - 94~ - .. 961}.(- 99 P6¾- 98¼ 96 - 97½ - .... 107¼-107½ .•.• - . .•• - •••• 107 -107 - •• .. 104¾-104¾ - .... 104 -104 943'- 97¼ 95¼- 97¾ IJ5¾- 9g 95½- 99¼ U2 - 94:!4 . . - . . . . . . - . . . 97¼- 97½ 97½-103~ tOO½j-103¼ l00¼-103¾ 95¼-101 96~- 997~ 105 -105 108 -108 - .... l07½-10'i½ .·... - ••• , 104%-104¾ - ••.. lUl¼-113¼ . • • • - .. 105 -105 . . • • - •.. . 106½-106½ ..•. - ..•. LO i½-107½•••• - .... -·· - .... .... - - ........ - ........ - 99¾-101 991,g-10;) 97½- 98 10()¾-102¼ 119½-100½ 99 -100 lOO½i-100½ . ... - . . . . . .. 98}(- 99¼ 98¼- 99¼ 98 - 99 99' - 99~ 99 -100 97 - 98 09¼-100 119~-100¼ 95¾- 97~ 95¾- 97¼ 96~9~- 96!14 .• - 97¼ {18½- 9$½_:_:_:__:_......:: . •..::....:_• _··-·-··..c.·--'---'-----'"-'-'----'-....:..;....-- 94 RAILROAD BONDS. 1900-Contlnued. BONDS. JANUARY FEBR'RY. :MAROH. MAY. APRIL. JUNJC. JULY. AUGUST. JSEPT'BER. OCTOBER. ~OV'BER.' DEO'BER _ _ _ _ _ _ _ _ _ _ _ _ Low.High Low.High Low.IDgh Low.IDgh Low.mgh Low.High Lo..,,.Htgh Low.IDgh Low.High Low.High Low.Higr Low.Rig~ ~t. J. & G.I.-l ■ t,'47.4 92¼- 94¾ 9~- 94¼ 93)4- 93)4 92¼- 92.1,g 923'- 923' .... - •••. 90 - 90 90 - 90 , 903'- 90½ .••• - ••• . 913'- 91~ •••• 'St. Law. & Adlr., lst.~ 122 -122 •••• - .. . . ... - ... . .... - •••...•• - ........ St.L. & San Fran.Ry.ClaH B, 1906-········6 102 -102¼ . .•• - .... . ... - ........ - •••. 100¼-10()¾ 101 -101 .... - ....... ClaH C, 1906 ......... 6 102 -102 - ••.. 102~-102M .•• • - •... 1001,(-100~ •• . - .•. lOl~-101¼ .••• - ... 102¼-102½ . .•• General, 1931 . . ...... 6 127 -127 125 -125 .... - ........ - .... 127 -127 - .. . 125 -125 .•• • - •••. 125¼-125~ . ... - .... 127 -128½ 125¾-126M General, 1931 ........ ~ lllM-113'4 113 -113!,4 112'4-113 113¼-114 112'1-113¼ 113¼ 113¼ 110 -111!,4 110~111,6109¼-110 110 -110 111 -112½ tt2¼-113M RR.-Cone.,a., 1996.4 .... - .... . .. . .. .... - ........ - . . 951,ji- 95½ . ... - .... ll2 - 93 Refund, 19~1 ....... 4 85 - 87¼ ~ - 88 86 - 87¾ 84¼- 88 84¼- 86 85%-- 87¾ 82 - 83¼ 82¼- 83¼ 81¾- 83½ 83!.- Si½ 82 - 84½ 83¼- 84J4 :111.-note•• a-,'08.4¼ llfi¾- ll5~ 00 - 96 .... - ....... - .... ll7 - 97 . ... - .... . .. !JS - ll8 K. C.Ft.S.& M., con.ti 121 -121 1201,ii-120¼ . ... - .. . . . .. - .... .... - . . . - ........ K. c. F. s.& M •• ret. 4 87 - 87ll:1 87 - 877~ 86!,4- 87¾ 84 - 84½ 83¼- 84¼ 84 - 84½ 82¼- 83¼ 82 - Bi Bl¼- 84 Bl - 82½ 81¼- 82~ 81~- 82¾ 't!§t. Lou. ~.\\'.ht '89 .. 4 96¼- llll~ 99 - llll~-4 !Ji¾- 98¾ ll7],(- ll8>1i 95¼- ll7 95),(- ll6~ ll4!1(- 96 ll5¼- ll7x !Ji¾;- ll5:Ui ll6 - 97 ll4 - ll5½ 94¼- 95!1:( 2d Inc., 1989 .......... 4 85¾- 86¾ ... - . . . . 85 - 85¼ .... - .. . . 84 - 88 87 - Bil .... 82¼- 84¾ 80 - 86 86 - 86 Consol., arold, 193!l .. 4 80¾- 82 80¾- 82 'i9¾- 80¾ 781k 80 7~- 80½ 77 - 79¼ 76 - 78 76¼- 77!14 77¼- 7~ 79 - 80¾ 80¼- 81).f 76¾- 79~ St. P. M. & lll. -~d .. .. ti . .. - .... 109~-109½ 106¼-106¼ ... . - . .. . - ..... ... - ... . 108 -108 - .. . l05l,4-105½ .. .. ht, consol., 1933 ... . 6 136¼-137~. 137¼-187½ ... - ... . .... - .... 18$¾-188}.! 133¼-188½ .... - ... .. ... - ....... - ... 138 -133 t33'.U-188~ .. . Reali.tered .......... 6 .... . - ... ... .. - .... . .. - .... .... ... - .... 134 -134 Reduced to ......... 4¼ 112¼-112~ 112 -112 110½-111¼ 110~-lll½ 11()¾-l l ()¾ lll¼-111¼ .. - .... 107%-108 107¾-107¾ 10Q¾-109l)t 111 -111 111 -111 Dakota Extenelon .... 6 lO!l¾-110 110*110¾ 110¼-lll . . . - .... 108 -108 108 -108½ lQS¾ -1081}.( .... - .. . - .... .... - .... 106¼·1063,jj ... Mont.Ext.,ht,1931'.4 103¾-104),.a 103311-108¼ 102 -102 . . • • - .... 103¼-103¼ 102¼-102¼ 100 -100¾ 101 -101 - .... 100~ 1001h LOl -101½ LOO -100 Re1rl11tered . ......... . 4 .... .... - ........ - ........ - . . . .. . - . ... 1001'-100¼ E. M. 1st div., 1st .... ~ .... - ..... 101¼-101¼ .. - ... . ... - .... 101¼-101½ 101~-101~ .... - ... . 100~100% Mont.Cen.,lat,1937.6 136 -136 136 -1813 .... - .... 134 -134 134~·134¼ ... - •••. 133 -133 RearlBtered .......... 6 .... - .... 136!4-136~ .... ... ... - ... . 1st, a-uar., 1937 .... ~ .... - .... llll¼-119¼ 118¼-119¾ .... - ... . 116 -116 _ Wll.&S.F •• Js t,'38 .. ~ .... - ........ - ........ - ....... - .... .... - ... . .... - ... iii'i¾-lW¼ S. Fe Pree. & Phe ..... :) 112¾-ll~ ... - .. . . ... - ... .. ... - ........ - .... . ... - .. · · L07¼-107J.( Seaboard Air Line .... 4 89¾- 92 003'- 91¼ 00 - 91 86¼- 88!,i 86¾- 88 87)4- 88¾ 86:}.(- 88 86"- 87¼ 86~- 86¾ IIB½- 84 82 80~- ~2M Collat. trust, 1.911 .. ~ 102¼-103¼ .... - .... 102¼-103~ 102%-10~;1:! 101 -101½ 101 -101¾ 101~-101¾ 101½-102 102 -102¼ 102¼-lOiJ.11100 -100¼ 99¾-10~ Atl.-Blrm., l ■t . ..... 4 96¼- 97 .••• - ... . 94 - 95 95¼- 115¼ ... - .... .... - .. . . 92¼- 92¾ 98 - Di¼ - .. • 92 - 92 Car. Cent., lat, '49.4 .... - .... 00¾- 97 Fla. C. & Pen., '18 .. :J .... - .... 107~·109 10!)¾-109¾ 109¾-109¼ 109"-109¾ 107¼-107~ 10'714 -107~4 ... 110 -no Ga. & Ala., 1st, con.:J . .. - .... lll¼-111¾ .. • - .... 110}9-110½ . . .. Seab. & Roan., lat .. ~ . .. - . .. . 110 -110 . .. . - .. .. . .. - .. . 108 -108 Southern Pacific Co.1st, refund., 19~~ .... 4 95 - 97¼ ll6¼- 97¾ 96%- 96111 1)4¼- 97 94:ij - 96"1 ll6%- 97~ ll4¾- ll5¾ 95 - 913 ~ ll5%- 96!< ll5¼- 96\{i ll5M- ll6!,i 00 - 97~ Collat. trust, 1949 .. 4 98 - 96¾ 933'- 95½ 92%- 94 Ill¾- !JS¾ 91¾- ll4 91)(- 92¾ Ill¼- !JS 91¾- 92~ 91¾- ll2_¼ 1.,1 - 92½ 91~- 92 68 - 90 Redstered ........... 4 .... 92 - 92 91¾· 91½ . ... - •• 90 - 00 83~ 0 0 99. ioO¼~Hii~ t<ii 0 ~:::~a!,Nie~;•e!.•::: 101¾=102~ l : ~ ! ~ 99~100¼ .99 =100¾ ~100~ =102 .. 99 ~100·· 98¼- 99~ 98>4-100¼ 99¾-lOO~lOl -100¾ Rearletered. ........ 4 .... - .... .... - .... . .. - ... . 98¼- 98¼ . . .. Mort., aru., ar.,'29.3½ 87M- 88 87¼- 89 88¾- 89 88¾- ~ 88¾- ~ 87¼- 87!. 86:U- 88 86¾- 87 86 - 86~ 86¼- 87 86J4- 86¾ 85M- 86 Through St.L.,let.4 .. .. - .... 99¾- 99¾ 99 - 99 - .... 95 - ~5 95 - 95 ll6 - 96 G.H.& !S.A.,let,'10.ti .... - ... . 106 -106 .... ... - ........ - ••. - .... 105 -105 .... M. & P. Div., lat .. :J 111¼-111¾ .... - .... .... - ........ - ... .... - .... 110 -111~ . . - .... . ... - ... . ... - .... 111 -111 109 -109 .... - •••• Gila Val. G.&N.,lat.:J .... - ........ - ........ - ... . . . . - ... 106 -106 106¼ -106~ 106~-108¼ . ... - ... . H.E.&W.Tex., aru,.~ 104 -105½ 105¼-10~ .... - .... 105¾-105½ 103¼-103½ ... - .... 103¼-103¾ 108¾-104 .. - . ....... - .... . ... Houe.& Tex.C., let.~ ~10 -111 111 -111 llO!J;(-111¼ lll¾-111¼ 111%-111;>.a lllM-111¾ 109¼-1093-(i ..•• - ... . L09~-110 111 -111¾ 111¼·111'4 lll}( -112¾ CoDl!I. &'•• 191~ ...... 6 .... - ... . 111 -111¼ lll¾-111½ ... ll5 -115 110~110½ llO}li-11()% 110),(-110],( General, ar., 19!l1 .. 4 98 - 99~ 99 - 99 97 - 99 - ... . 96 - 96½ 95}6- 96¾ 95 - 96 \/5¾- ll5½ 93~- 95½ 94 - 95 94 - 94 Waco&N.W.,Jet7 .... - ....... - .... 110 -116 Mor.L.&T.SS.,tet., .... L27 -127 .... - ...... - ... . . .. l•t arold, 19:40 ..... . 6 . . .• - .. 116 -116 Nor.of Cal., let, a-u.6 .... - ... . l01%-101% .... Ore. & Cal., lat., aru.~ .. . . - ... . 102¾-102¼ . . .. 99 - 99 - . .. . .. .. - .... . .. . ~an An. & Ar. PaH.4 87%- 90 883'- 90 88}6- 89 •88 - 89 87¾- 89 88%- 00 86 - 87¼ 85¾- 87 65'(- 87 86,l,s- 87¾ 80¾- 87¾ 86:U- 89¾ So.Pac.,Arlz.1909... 6 104¼-104¾ 105¼-105½ 105¾-105½ .. - .. . L05¾-10572 l05 -105¼ ... - .... 106¼-1063' 1st, 1910 ............ 6 .... - ... . 1()6%-106% 106%-106¾ 107 -107 .... - ... . 106¼ -106½ 107 -107 . ... So. Pac. Cal., 1906 .. 6 102 -102 - ... . .... - .... ... . - .... . ... let, 1912, E &F ... ti 113 -113 11$¾-113¾ ... - .... 111 -111 let, con., arn.1937 .. :J 119 -119 .... 105 -lOj¾ .. .. 8. Pac., N.Mex., 1 et.ti .... - • • • 104¼-104½ 104¾-104¼ . .. - ... .. ... T.&N.O.,8ab. D.,1et.6 111¼-lll¾ ..• . - ... . . ... Coneol .. arold,1943.~ .... - ... - ... . . ... - .... 110 -110 . ... - .... . ... - .... 104 -104 . ... Southern-ht, 1994 .. :J 118 -118¾ 118 -119¼ 117%-118¾ 116 -118 t.5¼-118 118 -119 115¾-116!,4 115¼-116¾ 115 -115~ 115),(-117>4 110 -117½ 115¼-116~ lleelstered . ....... ... 3 .... - ... ..... - ........ - . . . 116 -116 ... - .. . .. • - ........ - ... 114 -114 .... - •••• M. & o. col. tr., '38.4 97¾- 98¾ 97 - ~ 95 - ll6 ll6 - 96 94½- ll6 ll4½ ll5 95 - !l5 !Ji¼• ll5½ ll3"- 93!':( ll3 - 94¼ &3¾- ll4~ 92¾- 93M Memp. Div,. lat.4¾•~ . .. - .. . - . .. . ... - ... . 118 -118½ - •... 118 -110½ ... - .... L18 -118 ll5 -115 116 -117¼ 116¾-119 -... St. Louie Div., let.-4 98 - 99¾ 98¾- 99¼ 98¾- 99 ll8¼- 98¾ 07¾- Ill:! 97 - 98¾ 97¼- 99 - 98 - 98 94¾- 95 95¼- 97 97 - 97).f 96¾- 98¾ Ala. Cent., lat ........ 6 113 -113 . .. • - .... •.. • Atl. & Dan., lst,'48,4 .... - ... . .... - .... ... - .... 96~- ~6% ... ll6 - 96 . ... - ....... - ........ ~d, 1948 ... ........... 4 . .. . - .. . . . . . - . .. . . .. 92 - 92 - ...... .. E.T. Va.& Go.., Dlv.. :J 114¼-114¼ .••• - .... . ... - . . . 115½-115½ 116 -116 - .... . ... - ... 115¼-lltl¼ L15 -115 . 115¼-1153' Consol., 1st, ar........ ~ 119¼-119½ 119 -119% 119¾-119¾ 119J.,;-119¾ 116 -117).f 116¼-118 117~118 118¼-118>1- 18 -118¼ 118¼-118¼ 116%-117 E. Tenn. reorar. llen..~ . ... - . . . 116 -116½ . •• • - ... .. ... - .... 113¾-113.11! . ... - . . . llt½-114½ . ... - • . . - .... 112 -112 Ga. Midland l•t .. . .. . 3 .... - ....... - ....... - ... . ... - ....... - ... . 72¾· 72\t 72!,(- 72¼ 72~- 72 ,_ - ....... . - .... . ... Ga. Pac., let, arold ... 6 122 -123 122¼-122½ 121 -121~ . . - .... 121 -121½ 122),.(-122¾ ... - ... 119½-lllll-, ll9}9-120 120 -120 ... - •••. ~-ISO¼ Knox. & o., let, ar ... 6 122}(-122~ . . - . .. . 122¾-122!.t 122¾-122¾ . ... - .... .... - . .. . •• - .. . . - .. . ... - ....... . Rich. &Dan., con.,ar.6 114 -114 114¼-114½ lli -114 114¾-114.1,g 118½-116 lU¾-115~ 112%-112¾ 118 -118 12}(-lU 113 -114}{ 114%-114),fi .... Deben., ■ tamped- .. ~ 1!2"-112¾ .... - .. . - . . .. . .• So. Car. & Ga., ll!lt .. ~ 107"-107¾ 108¾-108½ - •••. 107¼-108 105 -105 - ... . 107¼-107.l1i - .... 108¾-108~ 106 -106 106 -106 Va. Mid., eer.A, '06.6 .... - ... lOt¼-101~ 109 -109 Serles B, 1911 ..... 6 .... - ...... . - ... 107 -107 109¼-1083' Serles D, 19!11 ... 4-:J .... - ... . .... - ... . Lll ~-111¼ . .. • - .... lll}t-111¾ General, 1936 ...... ~ 114 -114½ . ... - .... 111%-111¾ . • . Stamped, araor .... ~ 11~-114)1; . .. . - ••.. 109¼-lO!l½ .. • - .. .. 94!,r 94½ . • .. - .. • . 94'.¼- 94'¼ Wa•h• O. & W ., 1 et.4 . . .. - .. . . .. . . W. N. Car., 1st, con.6 113)4-113¼ 113 -118 112¾-112¼ . ... - .... LllM-111¾ . .. • - .... 112,(-112¼ - .. ll4 -114¼ 111¼-111¼ 111¼-111¼ Term'l ot ~t.L.-lst,4~ 112 -112 . ... - .... .... - .... 109 -103 l ■t, conl!lol., 1944 .... ~ .... - ... 119 -120¼ .... - ... . L19¾-120 . ... - .... 117 -117 Gen. ref., 19:13 ....... 4 98¼- 99¾ 100¼-100¼ 98½-100¾ 98¼- 1}93,s 97¼- ll8½ 98 - 98 06 - 96 95¾- 95)1. 94¾- 94¼ 95½- 96 95¾- 96 .... St. L. Mer. Bdire •... ~ .... - . . . ... . - .... ... ... - .... . ... - .... 111 -111 . .. - ....... - .. . . ll0¾-ll0:J4 111 -111 Tex. & Pac., 1st, arold.~ 121¼-123½ 128 -123¼ 128 -123¼ t22¾-12~ 122¼-124 119 -120~ 118 -118!►.i L16 -119 118¼-119½ 118¼-120¼ Ll8*120 116¾-117¼ ~d, Ir•• Inc., !.1000 .... . :} 102 -102 . ... - .... . ... - .... . ... - ........ - ... . 85 - 85 90 - 91¾ 95 - 95 97 -100 92 - 92 .... - .. .. La. Div. B. L., lst ... ~ 109l,4-l09¾ 110 -110 l~-110 - ....... ... - ... . ... - ... .. ... - ... - ·••• - ··•• Toi. & O. C.-1st, '3~.:J 112¼-11~ 112¾-115¼ 113 -118 ll4!Ja-114¾ . ... - ... . 112 -112 lll¾-111½ 113 -113!.<. . .. - .... ll3¾-113½ 11!1¾-114½114¾ 115 General, eold, 193~.:J 107 -107 .... - .... 107¼-107¼ .... - .... 109 -109 . .. . . ... - .... 106 -106 - .... . ... Kan.& M.,let,aru.,ar.4 99¼- 99½ 97%- 99¼ 98 - 98½ 95¾- ll6 98 - 98 97¼- 98~ 97½- 98 07¾- 97!J;\ 97¾- 98 97 - 98 07 - 97 96¼- 97 Toi. Peo. & W .-ht ... 4 92 - 92 91¾- 91½ • • • - .. .. 98),.(- 98~ . .. . 91!,(- 91¾ 89¼- 89¾ 89Xi- 89x, 89Jt- 89½ .. . - . . 00¾- 90½ . .. • Toi. St. L. & Wel!lt .. 3¼ 89%- 90 SQ - 89~ 89¾- 9t' .. .. - . ... 89¾- 89¾ !JO - 90 88!,t- 90 90 - 90 90 - 90 :i0-year, Ir•• 192~ ... 4 83~- 84½ 83!J.t- 84¾ 83¼- 84 80¼- 82 80¼- 80½ 80¾· 81¼ 81 - 82 81 - 82¼ 82¼- 82½ 79¾- 81!':t 80 - 82 80 - 81¼ Tor.H.& Blltf., l ■t .... 4 .... - .... .. .. - ... - . ... ... - .... . ... - ........ - ... 95.)- 95 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD AND MISCELLANEOUS BONDS. 95 1906-Continued. BONDS. JANUARY FEBR'RY MA ROH. APRIL. MAY. JUNE. JULY. AUGUST. 8EP 1TBER. OCTOBER. NOV'BER. DEC'BER. Low.Hiirh Low. High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.Hiirh Low.Hig h Low.High - - - -- -· - - - - - - - - - - - - - ·- - - - - - - - - - ----+----- - - - - - - - - -- - Uls. & Del.- ht, con.- ~ .... - .... 112¾-118¼ . ... - •.• , 110¼-110¾ ••.• - .•.. 110 -110 111 -111 ...• - •... . .•. - ..•. 112 -112~ 112 -112 1et, re1und., 193~ ... 4 93 - 9a •••• - ••...••• - ......• . - ........ - ..•...•• - ..•. . .. - ... . 94½- 9-i¼ 93 - 93½ ... . - ...... .. - .... .. .. - ..•• O nlon PacHic-194'7 .. 4 104¾-106¾ 104½-105¾ 104~-105 103¾-105)( 103½-105 lOi¼-105¾ 102¾-103½ 103 -1~ 102½-103¾ 102¾ 103~ 102~-104 103 -104 Rea-istered .... ...... . 4 105½-106¾ 104½-1Cl4½ 103¾-104¾ hl2½-105 103½-104 .•.• - ••• . lOlJ,.(-10~ lOlM-103¼ 102¼-103 102 -103¼ 102 -102 102¾-102JJ 1st lien, conv ., 1911 4 147½-158¾ 14.9 -157 15~¼-156% 146¼-160% ... - ... . .... - ••.. . ... - •••. . . . - .. . . . .• - ........ - . .. . . .. Reaistered . ... ...... . 4 .... - ........ - . . . - ... . 146½-149!,s . ... - . .. .. ... - •. . . . .. - . . . . . •• - ....... - .... . . . . - ... . ..•• Or. RR. & Nav.,con.4 100:1,!-101¾ 100¾-,-101¾ 101 -101½ 100¼-102 100¼-101¾ 99½-100% 100¾-100~ 100¼-101½ 100¾-101¾ 100¾-101:k, 101 -101¼ 98¼- 99¾ Or. Bhort Line, 1st . . 6 125½-126 122¼-123¼ 121 -122 122 -122½ 122½-123¾ 123¾-124 123:l(-12!l¾ 120 -120¼ 121¼-122 121¼-123 l2Sl,s-12di}.\ 1223'-123¼ Or. s. 1..lne,lst, con s.ii 117 -118½ 117¼-118¼ 117 -118~ 116½-116½ 117¼-119 118½-119 [116¾ ·116¼ 116 -116¾ 116 -117¾ 116½-117~ 116 -116½ 115 -116!,( Guor.rerund.1929 .4 95!1-4- 97½ 96¾- 97¾ 95¼- 96!Jii 9!l¼- 96:),j 94~- 96 94¼- 95¼ 94¾- 115~ ll4½- 95¾ 9!l%- 95 94¾- 95:J-j 95:1,!- 97!Jii 93}4- 94¾. Realstered .. .. .... .4 .... - ..... ... - ... ... . . - . . . . 94¼- 91¼ .••. Utah & "'or., 1st .... 7 105½-105½ . .. - . . . . ..• - •... 105 -105 ..•. Gold, 19~6.... ... ... . ti . . .. - .. . . . .. - ... .. ... - .... 110 -110 . .•• Vandalia, con sol., ar... 4 104¾-105 102%-103 . .. . Vera C. ruz&l'ac.lst.4¾ .... - .. - .... 98 - 98 Va. & s. W .-1st, llll- -~ 108 -112 . . 112¼-114 - ... . 114 -114 ll4¼-114½ 113l,a-1133', Wabash-1st, ar.1939.1> 115~-116½ 115¼-116½ 115½-116¼ 115 -116!,s 112'J,i-114 ll~¾-114 113:)(-114¼ 114¼-115 114~-115 115 -llG 112¼-113½ 112~-ll~ 2d mort., gold, 1939.1> 107 -109 105),g-106½ 105 -106 105 -105½ 104 -105 104~-107 106 -107¾ 10!¼-105 104 -105 104½-106 lQ!l¼-105¼ lOi~ 105¼ Deben.lnc., 1 939, A.6 87¾- 91 90 - 95 93½- 94 95 - 98 .. .. - . . . . 94 - 96 ... • - . . . 95 - 95 .... - .... Deb. Inc•• 1939, B .... ti 73¼- 79¾ 76¼- 85 'i'9!J.(- 83 72¼- 82 73¾ · 82¾ 80 - 86¼ 77¼- 82½ 80 - 83¾ 78¾- 82 79 - 85~ 79 - 81¾ 74 - so~. Certfs of' deposit...... . . . . . . . . .. . . - . .. . U!ki- 76 1st 11.-n equipment ... /J .••• - ••. •· ·· - •.•. 100 -100 .. .. - ••• . 101 -101 1st lien terminal ..... 4 .... - ...... •• 93 - 93 . .•• D. & Ch. Ext., 1940.ti 108 -108 103¾-109 - ... . 109¾-109¾ ... - ... . 111 -111¾ .... - .... 1011¼-110 .... - ... 110 -110 Omo.ha Div., 1941.3½ .. .. 85 - 86¼ 85 - 85 84 - 84 85¼- 85¼ ... Toi, & Ch1c. Dlv •.. . .4 . .. . 92 - 95½ 94¾ - 94¾ . . • • - .. . .. .. 93 - 93 Wu.b.-Pitts. Te1·.-l8t.4 86 - 90¼ 88½- 90½ 84¼- 83¼ 83~- 86¾ 82¾- 85¼ 83 - 85 83 - 84½ 82!,(- 83¼ 82'4- 83 80!>ii- 83¾ 81¾- 83 'i'S½ - 80¼ 2d, u ld, 1964 ..... .. 4 34¼- 41¼ S~- 40¾ 37¼- 40 35¼- 37~ 35 - 3d½ 34 - 36 33 - 35 82 - 33 35 - 38¼ 35 - 37¾ 87 - 40½ 35¼- 38 West. Maryland-lst.4 86¾- 88:)f, 87¼- 88½ 87 - 88¼ 84 - 86¾ 84¼- 87 83~- 81$ 84 - 85 84),(- 84~ 8:lJ.s- 84 83 - 84¼ 8!l - 84 84¾- 87 72 72¾ 72 7.2½ 72 - 74¾ 70 - 71 Gen.& conv.g,19~2.4 69 - 75½ 74 - 76¾ 74 - 75 71 - 72}4 68 - 71½ 71¼- 74½ 71 - 75¾ 72 - 76 - .... lU -11' 115 -115½ 115'-(-115¾ t15:J;! -116~ 116 -116¼ W.N.1',&P.-lst,'37.~ 117 -117½ 117¼-117½ 117½-118 117¼-117½ 116¾-116¼ Gene · al, 1943 .. .... . . 4 97 - li7~ 97 - 97 .••• - • . . . 94"'- 94¾ 95 - 95 - • . .. 94 - 94: 95¼- 95½ 03¾- 03114 92½ · 95 Incomes, 1943 ... .... . 5 30 - 30 - .... 31 - Sl 30 - 30 .... Wnt Va.l en.& P. l ■t.6 .... - .... 109 -lPO - .... 106¼ 106½ . .•• - .... 10~¾-109¾ Wheel.& L.E -1st ... ~ ll4 -114 - .... 112 - 112 112¾-112!J4 .. . - . ..... - .••. 110 -110 Wheel. Div., 1st...... l) .... 11~·112½ .... 1st coo., 1949 . . ... . .. 4 91 - 83½ 92 - 93¼ 90 - 90¾ 89 - 80 87¼- s0 88~- oo 88¾:. 89¼ 81½- 88¼ 87 - 88 86 - 8u¼ 86½- e6¼ Wlscon. Cen. Co.-J ■ t.4 li2 - 95 90½- 112¼ 91½- 82¼ 89 - 90 92¾- 84 89~- 90¾ 89¼- 90~ 89%- 90¼ 90 - 90¼ 89 - 90¼ 92¾- 93¼ 90¼- 93 STREET RAILWAY. B'klyn Rap Tr.-'4~ .. ~ 107~-1C8 t(J8 -108~ . .. . - . . . 105¾-107 106 -106¾ 105!,s-106 105 -105 104¾-105¼ 106 -106 104½-105½ 100¼-105)4 105 -105 93¾- 94!J4 9J ¼- 96 1st, conv., 200~ ..... .4 95¼-100 95 - 913¾ 93½- 98¾ 94)4- 99 94 - 95¼ 2½- 94¼ ~3'4- 9d¼ 95M- 9~ 92 - 95½ 93 - 96 - .. . 105 -105 .. .. - . . . . . . . . B 'klyn {.;., 1 st, con ■..~ 106¼-106),{ 106¼-106½ 106¼-106¼ 106¾-1C6~ 106 •106 107 -107 - • .. LOO -102 B.Q.C. & s ., con. au.~ . .. - .. . . 102¼-103 .... - .... 104 -104 100 -100 100 . 100 . . . - .. .. . . . B'klyn Un. El.,lat.4-~ 111¼-113¾ 108¼-110¼ 1C8¼-10J½ 107¼-109½ 107¼-109 108 -109 108 -109 105¼-107 106 -106½ 106½-108½ 106¼-108¼ 101 -107}! Stomped gunr . . 4-5 .. . . - ... 110 -110 .. .. R8 - 90¼. Klnll'8 Co. Elev., l11t .4 95 - 95 91) - 90 .... 91 - 91 91 - 91 ~tamped guar .... . 4 95 - Off¼ . • . - . . . . 92 - 93 90¼- 90½ 80½- 91 80 - 89~ 91 - 92¾ 89 - 91!,fi 91½- 93 92 - 83¼ 91 - 01 90¼- 92 85½- 86 85¾- 86 84¾- 85~ Nassau E lec., aruar .. 4 88 - 80¼ 88½- 89½ 88 - 89 88 - 88~ 88 - 88 87¼- 88 86 - 86 85 - 85¾ 85¼- 86 .. .. - .... 108¾-103¾ . . . . - .... Conn.Ry.& Lt.-lst.4.J.i ... - .... 102 -102 ... - ..•. 101½-101½ 102~-103½ 103¾-104: Stamped auar . . .... 4,- 100%-10:l¼ .... - ... . 101½-102 l02¾-102¼ .... Detroit Unhed-ht.. 4½ 94¼- 95¼ 95 - 95¾ 95½- 96x 95 - 96½ 94'U- 95¾ 9'¼- 86 03~- 94½ 93¼- 94¼ 93¼- 94 93¼- 93}4 03\lt- 04 92'1-'- 94 92¾- 92¾ 92 - 92 . . . . - . . . . 92½- 92¾ 9llij- 92~ DaTona Elec.-1952 .. 5 95 - 95➔.I 98¾- 94½ 94 - 95 93¾- 94:¼ 113½- 9i lnterboro-Met.,coll.4¼ .... - .... 87¼- 69¾ 86 - 903' 83~- 89!':( 8~- 85¾ 83'7Ai- 85~ 83¾- 85'A 82¼- 84¾ 81¾- 82¼ 79¼- 82 84 - 84 79 - 81 79¾- 81¼ 79¾- 79~ .... - . ..... - .. ...... - .... lnte1·n•1 Trac., col.tr.4 .... - ..... .. - ...... . Manila El,-c., lat .... . . ~ .. .. - ........ - ... . . ... 88 -100¼ Metrup. St. Ry,, aen .O 112¾-117 111 -114 111 -lllx. 110 -110½ no -111 111 -111¼ 110 -111 108¼-108½ 108 -108½ 108¼ ·109¾ 108 -108½ :07½-108¼ Refundinll, 200!1 ..... 4 90¾- 92 90:¼- 91½ 88 - 89½ 86 - 88 83 - 97¼ 84¾- 86 83¾- 85 81 - 86 85 - 85½ 83~- 85½ 83¼- 85 84 - 84¼ B'y & 7 th Av.,1943. :i 116¾-118!14 116 -116¾ 116¾-116~ 113!,s-114½ 112½-113¾ . •. - .. .. 110 -111½ 110 - 110½ 110 ·111 112½-112½ 113 -113 110 -110 Col. & 9th Av., 1st .. ~ 119¾-119),{ .... - ....... - ... . 115 -115 114¼-114~ .... - .... 113 -113 116¼-116¼ ... . - .... 115 -115 .... - •... ll3½ 113¼ Lex. Av. & Pav. F .. O .... - .. . .. . . - . ... 116½-116½ 115 -115 113½-114¼ .. . . - .... 112¼-112¼ 115 -115 112 -112 113¼·113½ ... - ... 113¾-113~ 3dA v., lst,au.,2000.4 94 - 95½ 92¾- 04¾ 03 - 94 92¼- 94 92½- 93 93 - 94¾ IH - 92 91 - 91~ 90~.t- 92 90¼- 91¼ 90 - 9~ IJO - 91 1st, l 93'7 ... ........... ~ 110 -119 118¼-118½ 118!,s-118¼ . .. - •••. 118 -1187-{ 11~-118 115¼-115½ . . . - .. . 116 -116 - .... 115¾-115½ 116¼-116¼ Met. West Side El ..... 4 . . . . . . .. 93¼- 93½ . . .. Mll. Elec. Ry. & Lt ... l) •••• - .. .. 109 -109 .... lUlnnrap. !!It. 1st, con.~ - .... 107½-10~ . .•. - ... . .... New Ori. Ry. & L .•.. 4½ - ... . 02 - 92~ 80%- 89¾ 90 - 91 90¼- 91 .... St. Paul C.Cable,cons.5 - .. ..... - ... . .... - .. .. .. . - . . .. . ... - .... 110½-110½ .... Undera-r'nd EI. Rys. o f London proftlt•ah'a-.. O 96¼- 9~ 97¾- 98¾ 97½- 98½ 97¾- 98½ ll7½- 98¾ 95¼- 96i)ji 93¼- 95¼ O!l¾- 05¼ 94}4- 94¾ 94¼- 96 94¾- 95~ 92 - 92½ United Hys,,St.Louis .4 8b¾- 88!,t, 89 - 88 88~- 88;,, .... - .... 86¼- 88½ S8l-1i- 88½ 85¾- 85;Jt . ... - ... . 85)4;- 86½ 86¼- 86½ St.Lou . Tr .. ns., Imp.a .. .. - .. . ... . - ........ - . ... 96¼- 96½ - . ... .. .. - ........ United RRs., Su.n Fr. .4 8;¾- 88¾ 88~- 90 87¾- 89 71 - 85¾ 76 - 79½ 78¾- 80½ 79¼- 84¾ 83 - 84 83 - 85:la 83 - 841J( 83 - 83¾ 82 - 83¼ GAS AND ELECTRIC. Brooldyn U. Gas-1st 5 US -113½ 113 -llSlkl 110 -112 111 -112 108¾-109 109 · 109¼ 107¾-100 107 -108 106!,s-107 108½-109 105 -106 105¼-105¼ 75 - 70 70 - 74 'iO½- 71 70½- 71 70 - 72¼ 70 - 70¾ . . . . - • . . . 63 - 67 63½- 64¼ Buffalo Gas-1st. ....... .'.) 79¼- 8094 79¾- 80 7d - 79 Consol. Gu.a (N. Y.)Conv deb. 1909 ...... (i 159 -16S:J,t 150¾-167½ 143!,s-152~ 137 -146).a 138½-145¼ 143 -150½ 137¼-142 139½-143 138¼-141~ 138 -143 138 -140!,t 138 -1411' ... - .... 102¾-102),,f 101 -102!,( . •• - .... 101%-101:J,;( 101 · 101 Dea.. Uity Gas, 1923 .. . 0 102 -103 102 -103½ 102¾-103¾ 103 -103 103 -104 1L3 -101 - .... .. . . - .. . 100 -100 . ... - ... : 101¼-101½ .... Detroit Gas, 1918 .... . 0 .... SB¼- 88¼ . • . - • . .. 9·) - 90 Gen. Elec.-Deb., ar... 3~ 88 - 88 86¼- 89'.( 883'- 90 89!,s- 89¼ .. .. - .. .. 88 - 88 87¾- 87¾ . .. • - .. . 88 - 88 .... 108¼-108¼ .. .. .. •. 105 -105 - .. .. 106½-106¾103½-103½ .... H ud. Co.Gos-lst,'49.~ . . .. 98 - 08 . . . 95 - 05 98 - 98 K. C. (Mo.) Gas.-l11t .. O .... Kinn Uo. El.L.&Pow- •••. 117 -117 Purchase mouey... ti 121¾-121¾ 121 -122 Ed. El. Ill. (B'klyn) .4 ... - ........ 93½- 93½ ... . Laclede Gas-ht, ll'•• .. :i 107¾-108½ 107 -107~ 107 -1~ 107 -107¾ 104 -104"1104%-105½ 105}:(-105¾ 104 -104 103 -103" 104%-105 10$¾-104:¾ 102¾-104~ Refund.&ext.1934.5 ... . - .. . . .... - ... . lOS¼-103¼ ... - .... 103¾-104¾ .... - • .• . 102 -103¾ 101 -101 .• . - ... , 102½-102½ - • .. . 94 - 94 . .. • - .. • 95 - 115 lUllw. Gas-L.-lst . .... 4 03 - 93 ..•• - .... 94 - 94½ 94¼- 94½ 93~- 03~ 93}4- 93~ .... - .. . . 93¾- Oi ~. Y. El. Lt. H. & P .. . ~ 108½-109~ .. .. - .•• . 107 -107 107¾-107½ 107 -109 105 -106§.4 lu5 -105¾ 105½-10~ 105 -105½ 105 -105¾ 105 -105½ 102 -103 85 - 86 88 - 85M. Pur. mon. col. tr., g.4 ~ - 92 83 - 80 87¾- 88¾ 86 - 88 86½- 88 87 - 88 86¾- 88 84½- 85¼ 84 - 85~ 85¼- 87 Edis. El.Ill., lst,'10.:i 104 -104¼ 104¾-104¼ 102 -102¾ tOl½-102¾ .... - .. . ..... - ........ - .. .. 101~-101!}.( 100 -100¾ lOQ¾-101~ 101¼-101½ 101 -101 lat, coos., 199~. ar .. ~ .... - .. .. . ... ·•• · 115¾-117 118 -118 •••• - •••• llS~-113!,c . . .. N. Y. & Qu. El.& Pow.- .. .. 98 - 98 .. • • - • • .. Q8M- ~ Con., irold, 1930 .. .. .. O 102¾-10,~ .... - ........ - ... . ... - •••. 10(%-101½ 101 -101¼ 101 -101 People'1t G. L. &· Coke- ••• . 117 -117 lst, con., ar .. 1943.... 6 122 -122 123 -123 123 -123 117 -120 117%-120 120 -120 - •• •. 101¼-102 • • • • Refundlna-, 1941. • •. . 105½-106 ~ 107½-107% •••• - •••. 104¼-104~ 103¾-1~ .... •••. 104 -106 .••• Ch. G.-L. & C., 1st . . ~ 107 -107 - .... 107 -107 Con. Gas, 1st, 1936.~ ... - .... 108 -108 . ••• - •••. 105 -105 - •••. 08-98 Union El. L. & P.-l8t lJ .••• - •••. 101¼-101~ '\estcheater Llaht .... 5 .. . . - .... 108¾-lOSM 106 -107J,.( 1063'-106¼ .••• ·, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis - ........ - 96 RAILROAD AND MISCELLANEOUS BONDS. 1906-Concloded. JANUARY FEBR'RY. BONDS. -- MARCH. JdAY. APRIL, JUNE. JULY. AUGUST, REPT'BER. 0CTOBEl1. NOV'Bl':R. DEC'lJ-R. - - - - ---- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Low.High r,ow.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.Hi~b Low.Hi~b Low.High - - - - - - - - - - - - - -· ---- - - - - -- - 94¾- 95¾ .... - .... .... - .... .... - .... .... - .... .... - .... 90¾- 90¾ .... - .... . ... - .... 91 - 91 91 - 92 01¾- 91~ 97 - 97'9 97 - 97 .... - .... .... - .... 96¾- 96½ . ... - ... .... - .... .... - .... ·•·· - . ... .... 98 - 98 ······ ... . - .... .... - .... .... - .. .... - .. .. .... - ... .... - ... 101¾-101¾ .... - .... . ... - .... . .. - ... .... - .... .... - .... TELEGRAPH Am. Teleph. & TeleQ",4 Commer'l C--.ble, lst . . 4 Mich. Stute Teleph . ... ~ W. Union Tel.-1938.. :J 107¼ 109¾ 108 -10~ 107¼-109½ 108¾-109¾ 109¾-109¾ 107¾-IO;J_½ 105)4-106½ 104¾-105¾ 103 -104½ 1053,i-105,a 105¼-105~ 104¼-105¾ Fund. &R.E.,'~0-4¼ 104¼-105 104~-105 104¾-105 104)4-106 102 -104 10~-103¾ 102¾-103~ 102¾-103¾ 101¾-104¼ 101½-102¼ lOO(kl-101¾ 99).s-lOOJ.9 .... .... . 106½-106½ . ... - .... ... .... . . - ... ... - ... . Mut. Union Tel.,•• t.6 107 -107 .... - .... MA 'HTFACTURING A ~ D lNDLJSTRl A L . Amer. Cot. Oll,1916.4½ Am.Bide & Lea.-1 st.6 Amer. Ice Secor., deb.6 Am. Spirits Mfir.-lst.6 Am. Thren.d-1 st coll .. 4 Amer. Tobacco, 1944.6 Re6rlatered ............. . 6 Gold, 19~1- ............ 4 Rea-lstered ...... .... .4 Bethleh em Steel ... ... :J Cent.Leatb'r,20 -yr,a.:i Consol. Tobn.c., ~0-yr.4 Dillt. Secur. Cor.-1,tt.~ luaer1oll-Rand-lst .. :i lnteru'l Pn.per-lst .... 6 Cons., conv., 193~ ... a Int. Steam Pump, '13.ti Lackn. Steel, l1t'23 .. :i Nat.Starch M'f'a--let.6 N .Starch Co.-S.f.deb.~ Republic lron&Steel.~ Stan. Rope & T.Incomes, aold, 1946.:i U .s. Leather-Deb.s.f.6 U. 8. Realty & Imp ... ~ U.S. St. Corp.-1963 . . :) Reailltered ............. :i Va. -Cn.r. Chemical , ... ~ Weit. El.&Mfa,conv.:i MISCELL.ANEOU~. Ad 'lms Express-Coll.4 B'klyn Fer., lat, cons.~ Det. M.& M. L. G.-Inc. N. Y. Dock-:i0-yea.r .. 4 Provident Loan,'21.4½ U.S. Red. & Refin'g,.6 COAL AND IRON. Col. F. & I.-Geu., s.:f.1) Conv. deben., 1911 .. ~ Gr'dRiv. C.&C.lst.6 Col. Ind., 1st, conv.A.~ let, coll. tr., 1934.B.~ Kau.&H. (;. &C., lst 1) Sund~y Cr, ek Co., ... :i 'l'enn.C. I.&Ry .-Gen.:i Tenn. Division ...... .ti Blrm. Div •. 1st, con.6 De Bard. C.& I.-Gu.6 Vn. l t·on C. & C.-1 st .. ~ 97 - 98 99 -100¼ 87 - 93 102 -102½ {/0¾- 90}t, 114¾-117 115 -115 807-!- 84 80 - 80!Jd 96 - 97¼ 99 -100¼ 91!4- 93.\,(i 102¼-103 ... - 115½-117½ 116)4-116¾ 78 - 81¼ 80½- 80½ .... - .... .. .. - .... - .... -· ·· 96 - 97 96 - 96 96 - 96}{ 95 - 96½ 91¾- 1)4 90 - 92 lOOJ,t-103¼ 1oi -103 - . .. 91%- 91% 115½-117 112J.11-ll4¼ .. - .. . ll3!,i-ll3½ 73¾- 80 78 -8~ 79¼- 79¾ 77¾- 79¾ . .. ... . ··• · - . .. 101½-101% 97J.t;- 99½ 78¾- 80 'i8!4- 79¾ 87 - 89½ 83).fi- 86½ - . .. . ... - .. . 108 -109¾ 109 -109½ 96 -1!7~ 96 - 97 103 -103 l03J.9-103½ 105 -107 103 -104¾ 93 - 93½ 93 - 93½ 75 - 75 73 - 73 .... .... 100½-102½ 101)4-102 80~- 83¾ 78½- 81¼ 82!4- 85½ 85 - 88¾ .. .. .... . - - . .. .... ~ 109!!{-110¾ 97 -100 101¾-102¼ 106¼-108¾ 85 - 92 75 - 77 1077/4--108¼ 97>(- 98½ 103 -103 107 -108½ 97¾- 99½ 96!4- 99¾ 96!4- 99% 101 -101 97 - 97¾ 9 ·,34- 97 9;7-11- 99¼ 97¼- 99½ 98¾- 99% f/8¼- 09¾ 101 -101½ - . .... .... 95½- 96 90¼- 91 90 - 91 89 - 90½ 86¾- 90¾ 104 -104 103 -103 .... 83½- 88,½ U2 -114¼ 111½-lU¼ 110 -113 . .. - . .. . lU -114¼ 112 -112 78 - 79~ 77¾- 79¼ 77 - 79¼ 77½- 79¼ 78¾- 78¾ 77¾- 77½ 94%- 95¾ 90¼- 93¾ 88!4- 9J¼ 911 -102¼ .... .... - ... - .... ... - ... .... - .... 96¾- 99% 98).fi-100 98½- 99¾ 78¼- 80 77¾- 79¼ 77¾- 78½ 81 - 90 85 - &l¾ 85¼- 90 ... - ... .. 108 -109¼ G6 - 96½ 103¼-103½ 102¼-104¾ 90 - 90 74 - 75 .... - .... ... - ..... 94 - 94 96¼- 97 94 - 95¾ . 90¼- 91 89¾- 91~ 81} - 91¼ 89 - 90 89 - t!9¾ 89 87 .. 90 - 91 89 - 90 88¾- 93½ 92¾- 93 98 - 98 101 -101 101 -103 101 -101¾ 91½- oi 91 91).s 90 - 90 ··•· - ... 91 -91 112 -113 112 -112½ 109),!-lll;l:a 109½-110% 109 -110]4 109 -109 . - ·•· · 10;}¾-109¾ 109¼-109~ 76),,(- 78 76½- 79 76¼- 79 77¾- 78¼ 77¾- 80 .... - . ... 77¼- 77¾ 79 - 79 78¼- 78>.! 77 ·_ 77 96 - 96 - . . - ... - •• · . .. - . 99 -100 98¾-101 1!8 - 99 98 - 98'.)4 96¼- 98~ 77¼- 79 77 - 77¼ 77¾- 78½ 77 - 78½ 76½- 78 87 - 89½ 88½- 91½ 86¼- 89}1. 86¾· 88 86¼- 88 - . 97½- 99 - .. .. . 98½- 98\¾ 98¾- 99 107 -107½ 105½-107 106½-107 100 -107 1J6¼-107 9i - 94½ 9!!½- 9!l¼ ~3¾- 94¾ 92 - 93¾ 92 - 92).4 103 -103 .... - . ... 101 -101½ 101¾-102 102 -102 1,,.i 103},s-104 104¾-105½ 102¼-103½ 101¾-102½ 101¾·102¼ . - . 89 - 89 86%- 89½ 78 - 81 80 - 82½ 74 - 74 73 - 73 72¾- 73 98 - 98 . . 98 - 98 92¼- 98 96 r 97 .... - .... .. .. . ... .... .... - .... .... - 109 -109¼ 109 -109¾ 96½- 97½ 94¾- 95 101¾ -104¾ - .... l03¼-105 103¾-104½ ... .... ... - .... ... - - .... .... - ... - .... ... .. .... ... ... .... ... .... - .... .... - . ... ... .... - ···• 77 - 77 '/5 - 75 .... - .... ... - ... - . .. ··•· - .... ... - ·••· .... - ... ... - .... v 1¾- 2½ 11):t- 1¾ 1¾- 1¾ .... - .... ... - . ... .... - ... . ... - .... .. - ... :'.... - .... .... - .... . ... - .... .... - . ... 105 -105!-4 109 -109½ 107 -109½ .... - .... 109¼-109¼ .... - . ... .... - . ... . ... - . ... 105¼-106 107¾-108¾ 109 -109J.f! 108~:! 109 .... - .... 75 - 77 ... - .... .... - .... .... .... ll6¾- 97½ tl9J4-100¼ 07 -100\.4 100 : 100)4 95 - 97½ 95¾- 98¼ 95¾- 98½ 100 -100 94 95%96¼98¼- .. .... - .... .... - .... .. . - .... ... - .... ... - . .. 103¼-104)4 104 -104¾ 102 -102¾ 58 - 58 46¼- 49~ - ... .. - ... . 74 - 74 78 - 78 g7 - 98 95¼- 96¾ 95¾- 95¾ - ... 99 - 99 100 -101½ 99¼-100),g 98 - 99½ ... .... - .... .... · •· 98 99 99¼ 98½ 92 - 93 96¾- 98¾ 96¾- 98¾ 100 -100 90¼- 92 98¾- 98¼ 98¼- 98¼ 100 -100½ 91 977/497¾99¼- - .... .. .. - .. .. . ... - .... ... - 91½ 98~ 9S¾ 99% 91 - 95¾ 98¾-101¼ 9i¼-100~ 97 - 97½ ... . . .. . - .... 94 96 - 98 97¾- 98¾ 96¼97M- 98¾ 96¾. - . .. 98¾98 - 98½ 97 - ... u7 977/4 IJfj 99 98¾ .103 -103½ 104 -104½ 103 -10~½ 102)4-102½ 102,i-102½ 102¾-103 . - ... 41 - 41 ··•· .. . - . · ·• 69%- 691fi 70 - 70 .... . - . . - . ... 95!,t 93¼- 95 94¼- 95 94¼- 95 93 - 94¾ 93½- 94 95~- 95½ 94 94¼- 94¾ 94¾- 95 . - ... . ... .... - ... 99 - 99 ··•· 97 - 97 119 -102 97½- 97½ 97 - 97½ 96 - 97 95 -102 101!,ji-103 99 - 99¾ 98½· 99 102!!{-103~ 102¾-103 1027/4-103 - 47 .... .. . - ... . .... - .. .. 47 . .. 70 - 70 .... .... .... - .... - ... . .... - .... .. . .... .. . . .... .. - ... .... ······· ... .... ... ... ... .... .... - .... - ... . 97¼- 97½ .... - ... 97½-100 99½- 09¼ Wn,- 99¾ 102%-103½ ..... - . ... .... - . ... 100 -102¼ .... - .... 91¾- 91½ .... - .. .... - .... ··•· - ... -··· 88 - 88 .... - . .... .. - ·••· ... - ... . .... - . ... . .... - . ... .... - . .. . ... - .... ... - ... . 102%-102¾ .... - .... .... - .... ... . - .... ... - -· ·· .... - ... .... - . .. . .... - ... . .... - .. .. 76~- 80¾ 73 - 80½ 71½- 79 75 - 77¾ 74½- 75¾ . .. - .... .... - .... .... - ... . .... - . ... 78 - 88½ 77 - 84 76 - 80 73 - 79½ 73 - 78¾ 76¾- 79½ 'i5 - 77½ 74¼- 77 75¼- 77 73 - 77 77¼- 83½ 74%- 80¼ ~6 - 79 74¾- 76¾ 74 - 77!}.t .. ... - ... . ... - ... . . ... - ... .... - .... .... - .... .... - . ... . ... - . ... .... - ·•• · .... - .... .... - . ... .... - .... 105¾-105¾ ... - .... . .. - ... .... - . .. . .. - ... .... - ... .... - . ... . ... - . ... ... - . ... .... - ... . . ... - ... .... - . ... 6i}¾- 69~ 91)¾-100 100 -100 97¾-101¾ 100 -lOH~ 99 -101 97~- 97¾ 97 - 98 98 -100 97 - 97¾ 97 - 97¾ 96¾- 97¾ 98 -10) 110¼-110½1 110¼-110¾ ll0¼-110½ .... - . ... .... - . ... 100 - 109 .... - -··· .... - . .. .... - . .. 106 -107 106¼-107 108¼-1083( 10.) -llO½ 110 -110 109 -110¼ 109¾-110 109 -110¾ 107 -111 106¾-108 108 -108 106¾-107% 108¼-108½ 106½-109,f 108 -108¾ .... - .. .. 103½-10:'¾ ... - .... .... - .... .... .... - . ..... . - .. .. 10/l -100 ... - . .... ... - .... .. .. - . ... 102 -102 t04 -105 103 -105 91¾-102¼ . 01¾- 04½ 94¾- 98½ 93 - 04 95 - 95)4 93 - 95)4 94½- 96 95 - 97 97 - 118 95½- 95½ 94 - 95 95 - 95 95 - 96 ~ 1907. BONDS. January February March April I May June July August Sept.e-mber Ocwber November Decerrwer Low Hi{Jh Low Hi{Jh Low Hiuh Low H1.(Jh Low H1.(Jh Low Hl.{Jh Low H'/,(Jh Low H'/,(Jh Low Htgh Low Htuh Low Htgh Low Htgh - - - - -- - - -- - - - 1 - - - - - - - - - - - - - - - - - - - - - - - -1·- - - -1- - - --1--- - - - - - - - - - - - - - Ann Arbor-1st, 1995, gold- ___ 4 9018 9034 9012 91 89 8914 86 87 8412 861'.! 8112 86 8212 85 83 8512 847g 8512 84 8414 72 73 79 79 Atch. Topeka & Santa Fe.General, gold, 1995- ----- ---4 101 10212 1007810178 971210114 971210058 9612 9818 9714 987s 975s 9812 95 9858 96 9834 90 9658 8912 95 9412 9638 Regi stered --------------4 101 10134 ___ ___ __________________ 963.i 9634 97 98 ________ 9634 9634 ___ _____ 94 94 9012 91 Con vertible, gold, 1955. ____ _4 102 10814 1025s 10538 93121037g 99 103 9314 10012 9234 96 9312 9612 8814 9512 91 9334 81 93 80 87 8434 8714 Convertible, gold, 1917------5 ___ __ _______________ __ _____ ___ ______________ ____ 100 101 97 1005810012102 995R 102 8912100 931s 9512 Adjus_tment, gold, 1995- ___ _4 92 927g 9012 913.1 9118 92 90 9212 9012 9034 86 87 88 89 8718 88 8712 8712 8012 8814 7712 8212 8112 8212 Registered --------------4 --- ____ 86 86 ____ ________ ___ ____________________________ ___ _____ ___ ____ __ Stamped, guaranteed. ____ -4 92 9278 91 92 90 9212 9014 9212 863.1 9034 8518 8714 86 871g 8412 8678 8478 88 77 86 7712 8184 82 85 Debenture "F," 1908--------4 ---- ____ 99 99 --- --- - ---- - --- ---- ____ 101 101 ---Debenture "G." 1909-- -- ----4 - ------ 9858 9858 ---- ____ ---- ____ --- Debenture "H," 1910-- -----4 ---- ___ _ 96 96 ------- ---- ---- ---- ____ ---- ____ -- -- ____ ---Eas tern Oklahoma Div., lst.-4 ---- ____________________ 91 91 93 93 ___________________________ _ Atlantic Coast Line-1st, gold-4 9712 9878 9734 9814 9234 961g 93 9512 9478 96 947g 9534 9312 9512 89 943s 87 8812 8412 88-3.i 82 85 84 8712 Louisv & Nash, coll, g, 1952- -4 89 8912 88 8918 8618 88 84 88 8412 86 82 83 84 8512 8012 8334 79 791 2 7812 80 78 79 76 79 S SOcala & G, 1918--------- 4 ---- ____ ---- ---- ---- -- -- ---- --- - ---- ---- ---- -- -- 94 94 ------- ---- -- -- ---B & O-Prior lien, gold, 1925 3 ½ 92 93 9212 9338 9012 9234 92 9312 893s 9314 92 9212 90 9034 89 91 90 91 88 9018 8534 89 8812 9212 R_egistered -- ----------3 ½ ___ _ ____ ___ _ ____ ____ ____ ____ 9212 9212 891s 8918 ____ 8812 887s ________ ---- ---Gold, 1948---- ----------- --4101141023810114102 991210134 981810034 9 121005s 9812 9912 981s100 96 991 2 9612 99 88 971 4 8834 941 2 9414 9714 Registered _____________ -4 100 10112 101 10114 100341003.1 98 100¾ 98 100 98 98 9712 9712 ________ 94, 95 9578 9578 ____ __ __ ---- ---Pitts Jct & i\\ Div---------3 ½ 8912 90 8918 8918 89 89 ___ __ ___________ 86 86 ________________________ 80 85 ________ 8012 8112 P LE & W Va System. _____ -4 95 96 9514 953s 93 95 93 9478 9212 9312 9012 92 8912 91 89 8978 87 8912 85 891? 83 83 85 85 S W Div, 1st, gold- _______ 3 ½ 8912 9012 9014 9034 89 903g 8858 9012 8734 893s 8712 89 8534 8714 8512 8714 8534 8612 83 8612 80 8334 8212 8434 Mon R., 1st, guar, gold----- _5 ________ 1057s 10578 --- - ____________ ---- ____ - -- Pitts & W, 1st, 1917- -------4 ________________ 94 94 ____ ____ ____ ____ ___ _ ____ ____ _ ___ 8814 8814 ___ _ Buff Roch & Pittsburgh-Gen-5 1181211812 ___ ___ __ 1161211612 112 115 1131211434 ____ ____ ___ _ _ __________ _ ___ _ Alleg & W, ls t. guar--- -----4 102 102 102121031 2 ____ ____ ____ __ __ ____ ___ _ ____ ___ _ ____ _ ___________________ 98 98 R & P, Cons, 1st---- -------- 6 ______ __ 1221212312118341183.i ________________ 118 118 __ __ _ ______________ _ BuffaJo &. Susq-1st ,ref _____ -4 945g 9614 96 965s ___ _ ____ 8934 9412 _______ _ ________________ 9214 93 ________ 9034 903.t 91 91 ---Can Southern-1st. szuar. ____ _5 100 10034 1001g 10034 100 10034 1001410158 10112 102 102 10212 9978 10014 9912 1001s 100 101 99 101 9878 105 10318 10434 JP M & Co certificates- ------ ___ _ ____________________________________________________ ---- ____ ---- ____ ---- ____________ 1003410233 2d mortgage _______________ 5 104121051 2 1041 2 105 101 10258 102 10214 1017s 10212 10218 10214 1021410212 10134102 99 1007g 1003410134 9514 9914 9·7 99 41 0 03 Cenf:ti/eo~!rgi~=1~t=======~ Consolidated, 1945. gold- ____ 5 1st preferred income---- - - - -5 Stamped. ________________ 2d preferred income---------5 Stamped __________________ 3d preferred income _________ 5 Stamved-----------------Chattanooga Division, 1951 - -4 Mobile Division, 1946-------5 Central RR & 8kg, Geonria----5 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ==== ==== 1093411014 ==== ==== 116116- == == ==== ~~~~ __ _: ==== ==== == == ==== ==== ==== ==== ==== ==== ==== ==== 105 110 108 10912 10212107 102 104 103 104 102 10334 1011s 10212 971210212 85 10912 111 90 90 90 90 7312 7578 ____ ____ 8512 8512 89 89 ____ _____ ___________ ________ 73 73 74 74 6312 65 ____ ____ ____ 63 66 6J7s 64 ________ 85 85 74 7434 62 853s 85 76 7434 63 85 88 70 74 58 ____ 85 88 74 74 58 70 70 57 58 ___ _ 8512 8512 ____ 70 __ __ 70 70 70 57 50 50 58 50 5712 __ ______________ 58 ---- ____ ------- ____ ---6612 6612 ------45 50 ---- 60 ___ _ 10514 10514 ________ 1051210512!1021210212;100 10012 1001210012 98 100 ---- ---- 95 97 44 50 ---- 45 45 ---- 32 39 ---__ __ ---- ________ ---- ---- ---___________________ _ 10612108 9712 94 95 ---- 39 40 37 38 8734 8734 105 105 RAILROAD BO. DS. January F ebruary March 1907 ('ontinued. I I AprU May June 97 July August September October Nove1nber December ____ ,____ ~~~~~~~~~~~~~~~~~~~~~~~~ BONDS. - - - - ---- ---- - - -- - - - - - -----1- - - - Central of New JerseyGeneral mortgage, 1987- __ __5 125 12614 12512126 12312 1251g 12314125 124 126 1231 2 12434 122 124 1205s 12Fs 11914 11912 118 12r,1 2 113 119 11614 119 R.e icistered ___ ___________ 51241212412125 12512 12314125 123 123 _______ _ l2llsl22 1211412114120 121 1175s ll9 111a 118 111 112 113 1151 2 American Dock & Impr't----5 1101211034 11034 111 ---- ____ 1091gl0912 ____ ___ _ ---- ____ 1063410634 107 107 ____ __ _____ _8 L & W, mortgage, 1912-----5 993410012 - --- ---- 100 10014 1001210012 9934100 ---- ____________ 98-34 9912 ________ ___ _ Con ext, 1910, guar ____ -4 ½ 100 100 1003g 101 9934100 9934100 100 100 977s 9812 98 99 9814 9814 9714 98 98 931 4 _ _ _ _ _ _ _ _ 94 95 Cent ermont, gu, 1st, 1920--4 - --- ---- 8912 8978 ---- ---- 85 85 8 712 88 _________________________________ __ _ Chesapeake & OhioSeries A, gold, 1908--------6 1033410334 105 105 104 104 100 10112 ---- ____ ---- ---- 10234 10234 ________ ---- ____ 98 100 ___ _____ 99341011 2 Mortgage, 1911------------6 ---- ---- 107 107 ---- ---- ---__ 104 104 1051210512 105 105 ________ 10512106 102 102 ___ _ ___________ _ 1st, con, gold, 1939- ______ _5 115 116 115 11512 1131211434 11334115 110 11112 110 11058 1097s 11034 109 11034 110 111 1037s 11112 10 1 10312 105 10812 R.egistered _______________ 5 ---- ---- ---- ---- ---- -- -- ---- ---- --- - --- - ---- ---- ---- ---- ---- ---- ---- ---- -- -- ---- ---- - ---1011210112 General, 1992- ________ __ -4 ½ 104 10534 1041210512 997s 10234 10038 103 101 102 9934 101 993410134 100 10112 9712 10013 891 2 1001 4 87 90 90 9614 R. & AD, 1st, con, 1989-----4 991210012 100 10012 98 98 9612 9838 995s 9934 ---- ---- --- - ____ ________ 9412 95 921 2 95 ________ 93 95 R. & AD, 2d, con, 1959 __ ___ -4 ---- ---- 9912 9912 9212 9212 ---- -- - - ---- __ __ 90 90 ___________________ _ Chicago & Alton-R.ef, 1949 ___ 3 79 80 7 12 80 76 79 76 12 7612 75-34 7534 ---- -- -- 76 76 ---- ---- ____ ____ ___ _ ____ ___ _ 70 70 Railway , 1950---- - -------3 ½ 7334 76:;s 7234 7412 6734 7214 6812 6978 6634 6914 66 6914 6712 6812 6512 68 63 63 58 64 55 60 5 14 6514 Chicago Burlington & QuincyDenver Division, 1922 ______ -41001 210012 99 9934 9912 997s 9914 9914 9812 99 991s 991g ___ ___ __ 971s 971g____ 9658 9658 ___ _ ___________ _ Illinois Division, 1949- ___ _3 ½ 9112 9212 9034 92 8912 91 8912 · 92 9 92 89 8912 8814 8912 873s 8712 88 88 84 88-34 8212 8412 41 2 88 Gold, 1949 ______________ -4100 10214101 102 100 10112100141027s 10 Fs103 101121025g 99 14100 97¾10012 9714 99 95-34 99 95 9612 9614 9 12 j :::: :::: :::: :::: :::: :::: :::: :::: io6- 10_6_ :::: :::: :::: :::: :::: :::: :::: ____ 1001210012 1001210012 993g 104 9 34 9918 1o~!gBi~i~l~n:1919 ________ Iowa Division, 1919 -------- 4 100 100 Nebraska Extension, 1927- --4 1015s 102 Southwest Division, 1921----4 - --- ---Debentures, 1913 - __ __ _____ _5 10212 103 Hannibal & St Jo, cons------6 1087g109 .lhicago & Eastern lllinoisR.efunding & Improv't------4 - - - - ---1st, sinking fund _________ __ 51007810112 1st, consolidated, gold------6 __ __ ____ 1015g l 02 ---- ---- ---- ---- 101 102 991210012 ---- ____ 1001210012 ____ 100 10012 100 1410112 101 101 ____ -=~~ 10012 1011s 1001s 1001 2 101 102 997s 1001s 99 10534 10534 ---- ---- 1051210512 ---- 9 1 _ _~ ~ : : : : 9834 9914 96 9812 99 95 90 - - - 993s 9912 1001 2 94 ---- ---- ---- ---- ---- -- -- --- - ---- ---- ---- --- - ---- ---- --- - --- - -- -- 90 10212 10313 10234 10314 1035s 104 ____ ---- ---- __ __ 106 106 8 97 95 96 94 96 95 94 94 ____ 98 96 98 ---- ---- -- -- ---- 92 92 - --- - -- - ---- ---- --- - ---- ---________ 10158 1017s 102 1027s 103 103 ---- ____ 1001210012 ________ 102 102 ________ ---- ____ --- - ---- 126 126 ---- ---- 1281s 1281s ---- --- - 12512126 102 102 ___ _ ________ 119 119 115 115 109 11112 10812)09 10934 10934 108 109 102 105 10312 107 ---- ---- --- - --- - __ __ ---- 106 106 ___ _ ________ 121 121 ___ _____ 119 12018 ___ _ ---- ---- - - -- ---- 109 109 105 10812 ___ _ Lou NA & C, lst------ - ----6 ________ ____ ________ 102 10214 1023410234 102 10234 10218 1021 8 ___ _ Ch Milw & St Paul-Terminal-- 5 1041210412 105-3410614 103 --- - ___ _ 102 1027s 1021210312 100 10114 ___ _ Oen ~t tge, "A," 1989- ______ -4 106 107 104'8 10612 101 10114 102 101 101 100 10112 101 101 98 100 99 10212 Gen Mtge, "B," 1989 ------ 3 ½ 9012 921s 91 92 92 885s 89 ___ ___ _________ __ _______ 82 82 85 85 Chic & ~to R.iv Division __ ____ 5 112121125s 113 11314 ------- ____ 109 110 _________________ ______________ _ Chicago & Pacific Division--- 6 __ __ -- -- - - -- ---- ---- --- ---- 104 104 __________ __ ___ _ ________ _______ _ Chicago & Pac W Div ______ 5 110 11018 11034 11112 110 109 10912 107 10912106 107 1061210734 105 106 1053410634 Dakota & Gt Southern- - ----5 ____ ---- 10634 10634 ------- - - -- -- - ____ ____ ____ ___ _ 1st H & D Division--------- 7 ___ _____ 1081410814 ---1051210512 ________________ 102 102 ___ _ 1s t, 1910------------------5 ____ - - - - ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- 1001210012 ---- -- - - ---- __ ___ __________ _ 1s t, LaC & D, 1919------- - -5 ____ - --- ____ ---- ---- ---- ---- ---- - --- ---- 1081410814 1061210612 --- - ---- ___ __ ___ ________ ___ _ Mineral Point Division---- -- 5 ___ _ ______ ______ 10212103 1021210212 ---- ---- ---- ---- ---- ____________ 10114 10112 ___ ___ __ 99 99 98 98 1st So Minn Division- __ -6 104 10434 1053s 1053s ____ _ ___ 1021210514 1053410534 1051210534 --- _ _ ___ 102 103 10334 104 101 104 100 1021 4 10114 103 1 st So West Division------- - 6 104 104 __ ______ ---- ____ --- - ---- ---- ---- --- - ----1021210212 1021s 10213 ________ 1023g 102a8 1011410114 1021210258 Wis & Minn Division ______ __ 5 ________ 11034 11034 1071210712 109 10914109581095s 110 110 ---- ____ 106 106 ________ ___ _____ ____ __ __ 104 105 M & , 1st, 1910--------- -- 6 __ __ ____ 1067g1067s - ------ -- - - ---- --- __ _________ ____ _____ ________ 100 100 M & No, 1st on e x tension---- 6 ' -- - - ____ 1101211112 ------- 1101211012 107 107 ---__ __ __ _____ ____ _ ___ _ 105 105 ___ _ ___ _ Chicago & North West _______ 7 __ ______ 1197s 121 ---- -- -- - --- ---- 11 3g 1197g ---- ---- --- ---- ________ 116 116 ________ 112 113 Extension, 1886-26-------- -4 102 102 ___ _ ---- ---- ____ - --- ----1011210112 - --- ---- --- - ____ 100 100 983.l!OO ___________ _ R.egistered ------ -- ------- 4 __ __ __ __ 104 10-! ---- ---- --- - ---- ---- ---- -- -- ---- ---____ 97 97 _______________________ _ GeneraJ, 1987-------- ---- 3 ½ 9734 98 ________ 951s 96 ---- -- - - 9212 9414 9212 93 943-1 9434 ____ _ ___ 9212 9212 90 90 87 90 Registered ------------3½ ---- ---- 95 95 ------- ---- ---- --- ___________________________ _ Sinking fund, coupon-------6 ____ ___ _ ____ ---- 106 107 ____________________ 10512106 Sinking fund, registered-----6 ____ ____ ____ ---- ___ ___ __ 1061410614 ____ _ ___ ___________ ___ __ 106 106 Sinking fund, coupon-------5 ____ __ __ ____ -- - - -- - - ---- 107 107 ---- ____ 1051210534 - - - - ____ 1041210412 __ _ _ Sinking fund, registered-----5 ____________ ---- ------- ---- ---- ---- ---- - --- ---- ---- ---- --- - ---- ---- ---- 104 104 --- 25- yrs, debenture, 1909- ____ _5 1001 4 1011 2 1015s 10158 101 10158 1011s 1025s 10018 10012 10014 10014 - - -- ____ 1001410012 100 10014 10014 10034 9812 9914 98 99 R.egistered __ __________ __ 5 ___________ __ ___ 101 101 1001s 101 98 98 99 9914 ____ _ ______ __ ______________ _ 30-year, debenture, 1921 ---- -5 107 107 ___ _____ -- - - ____ ---- ---- ---- ---- ---- ---- ---____ 104 104 1013410134 100 100 ___ _ Registered ____ ______ ___ _5 ________________ ---- ____ - --- -- - - ---- ____ 103 103 ---_______________ _ Debenture, 1933 ____________ 5 11312114 1141211434 - - -- __ __ 1131211312 ________ ---____ 11012 11012 ____ _ ___ 105 105 Northern Illinois lst-------- 5 ---- ____ ---- ---- - --- ------- ---- -- -- - --- ---- ------- ---- ____ ---___ _ 99 99 OttC F& St P, ist----------5 _______ _ 102381023s 1001410014 -- ----- ---- 1003s 1003g --- - ---- ____ ____ ____ ___ _ ____ ____ ___ _ _ __ _____ ___ _ Win & St Pet, 2d--- -------- 7 ________________ ---- ---- ---- ---- 1007s 1017s ---- ---- lOFs lOFs 1007g 1007s ___________ _ _______ _ ___________ _ M LS & W, 1st, 1921 ----- --6 1223412234 1221212212 ---- ____ 1231212334 ____ ----1211212112 120 120 ________ 1181211812 118 118 111 111 1123411312 Extension & imprt, 1929---5 _______ _________ ---- ___ _ 113 113 1131211312 ---- ---- ---- ____ ____ _ ___ ___ ___ __ __ -- ____ _____ __ _ Ch R. I & Pac Ry- 1917------- 6 1163sll612 116581165g 114 11634 ---- ---- 1151211512 1171211712 114 1141 4 ____ _ ___ 114 114 ____ __ _________ _ R.egistered------ ----- ------ 6 ________________ 11 61211612 --- - ---- ---- ---- ----- ---- ____ ____ _ ______________ _ ________ --- General, 1988, gold- _______ -4 993410012 100 1003s 9834 100 99 10012 9934 10012 9912 19012 9778 99 94 977s 95 9614 9234 951 2 88 93 9212 97 R.egistered _____________ -4 ____ __ __ 9912 9934 ---- ____ ---- - --- ---- ---- ---- -- -- __ ______________ 92 92 ___________ _ ____ --- - ---1st and refunding ____ - _1934.4 911s 9134 91 915s 8912 9112 887s 9034 8712 8912 8712 88 8734 88¾ 8612 883s 8512 8812 8012 87 80 83 82 8334 R.egistered--- - - - ------- ---- 4 ____ ____________ -- - ____ 87 87 ___ _ _ ___ 8212 8212 Coll tr, series M- - ------ 1915.4 9014 9012 ____ ---- ---- ---- - --- ---- --- - ---- ---- ---- ________________________ --- ____ ---- ---Series 0, 1917---- - --- ---- 4 ________ 9034 9034 ---- ---- ---- ---- ---- ---- ---- ---- ____ ____ ___ _ ____ ____ ____ ____ _ ___ --- - ---Series P, 1918------------4 ___ _______ ______ 90 90 86 86 84 84 ---- ---- ______ __ 84 84 ____ __ __ ____ _ ____ _____ _ _ R.ailroad, 2002--- --------- -4 7514 77 743s 7614 68 7434 6912 7312 66 7034 6612 6912 6914 70 65 6958 6414 6914 59 6914 4934 6034 5834 6-1 Coll tr, gold, 1913 ----- - -- 5 89 91 8812 9134 82 88 83 88 83 8634 8334 88 87 8819 82 881 2 8114 8334 7214 8312 59 72 70 7714 Burl CR. & N, 1934-- ------ -5117 117 ___ _ ____________________ 113 115 1141211412115121151 119 119 10812116 ___ _ _______ _____ 1031210312 Keokuk & Des Moines, lst-- 5 ______ ________ __ ---- ____ --- - ---- ---- -- -- 103 103 ________ ___ _ ---- 101 101 101 101 --- - - --- 95 95 Choe Okla & Gulf, 1919---- 5 _______ _ ___ _ ____ - - -- ____ ---- ---- ____ --- - ---- ---- ______ __ ________________ --- - ____ 1041sl05 ---- ---Chicago St Paul Minn & Omaha-6 12934 131 131 131 128 13012 12812130 1291413012 1261412614 127341281 2 128 128 125 128 120 1261 8 118 1201 8 11834121 Chicago St Paul & Minn, 1st - 6 ________ 1311413114 ---- ____ ---- ---- ---- ---- ---- ---- ___ _ ____ ____ - --- 119 119 St Paul & Sioux City lst- -- 611()1211912 1205s 1205s ________ 116381163s 1181411814 117 117 1173s 1173s ____ _ ___ 110 112 ___ _ ---- 111 111 Chicago TerminaJ Transfer- ---4 1---- ______ ______ ---- ___ _ 9734 9734 ---- ---- ---- ---- ___ _____ ---____ ---- ---- - --- --- - ---- ---Couponoff ________________ -4 99 991 9 12 9912 9812 9 12 97 10914 1091410914 ---- ____ __ __ __ __ ____ _ ___ ---- ____ ---- --- - ---- ---Chicago & West Ind-Gen ____ 51121 2 1121 22 113 113 1107slll 1107sll07s 1107slll 1091410914110 110 ____ _ ___ 11334115 ________ 1133411334 Consol, 1952- --- --- ----- ---4 ___ _____ 977s 98 ______ __ 977s 977s ________ ---- ____ ____ ____ ____ ---- - - - - ---Cincin Dayton & Ir-ist----5 ____ ____ 105141051410412104121035s103"s 102 102 ____ ____ ___ _ ---- -- -- .__ ___ - - - - ---Cincinnati Ind & W, 1953 __ _-4 83 83 ---- ---- ---- ---- ---- ---- ------- ---- ---- ------- --- - ---- - - --1 -- -Clev Cin Chic & St Louis------4 101 102 101 1013-t 961s 1013s 9734101 101 102 97 99 9734 98 95 9712 96 9614 93 97 8912 9114 92 2 9412 Cairo Division, lst---- -----4 993s 993s ________ --- - ---- ---- -- -- ------- --- - ____ ------- ---- ---- ---Cincin Wabash & M, i st----- 4 98 98 9812 9812 97 97 9714 9714 ________ -- -- _______ _____ 95 95 95 95 --- - ---- ---- ------St Louis Div, 1st , 1990-- -- -4 ________ 9712 9834 ________ 97 97 93 95 9314 9314 9312 9434 9312 94 ---- - --- 80 92 8012 8012 - --Registered --------------4 97 97 ________ ---- ____ ---- ---- ____ --- - ---- ---- ---- ---- ---- -- -- 91 91 ---CI St L & C, 1936--- - ------4 ________ ________ 9712 99 ____ ____ ____ ---- 9812 98•s ---- ---- 9812 9812 ---- ---- ---- -- -- 85 85 Registered _____________ -4 991'.l 9912 _________ _____ __ 981-1 9814 ________ --- - _______ _ ____ 95 95 97 97 98 14 9814 ---- ------Cin San & Clev cons--------5 _______ . ________ - --- ____ ---- ---- ---- ---- 109 109 --- - -- -- ---- ---- --- - ---- ---- ---- ---- ---- ---CCC & I, consol-----------7 1181 2 1181 2 _______ _ ________ ___ ____ _________ ---- ---- ---- ____ - --- -- --11512115121155s1155s 1101211012 ---Genconsol, 1934 ______ ____ 5131181311 2 132 132 ______ _____ _____________ 1291412914127 127 --- Peoria & Eastern, 1st, cons--4 94 95 9434 95 9-112 95 9114 92 9112 9214 9012 92 89 9034 89 9 1 - - -- - ,,, -- 88 89 85 85 8312 84 Incomes, 1990- __________ -4 70 7234 70 7012 64 6 Fs 6~ 6-! 60 6312 55 55 55 60 45 55 59 50 53 50 37 40 39 45 Clev Lorain & Wheeling, 1933-5 11234 1135s 1135sll31iR 1131211 312 110 110 --- - ---- 1093410934 ---- ---- --- ---- --- - - --Col Midland 1st, 1947 _______ -4 721 2 741 4 711 8 721 2 67 71 G 7012 67 69 68 6914 663-t 6712 62 65 63 65 59 65 55 58 57 59 Col & Sou-1st, gold, 1929- __ -4 921 4 9418 90;;8 93¾ 8914 91 8934 913s 8914 9034 885s 8912 89 8934 84 8738 8358 8412 82 12 8512 75 81 7812 8212 1 R.ef and ext, 1935--- ---- -4 ½ ________ 95 95 ---- ____ ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- --- 76 2 77 Dela w & Hudson, con, 1916 - _-4 10434 10914 1025s 1055s 951 8 1031is 99 10314 95 10314 9412 97 953-t 9 7 90 12 963s 92 14 9634 89 9614 88 9412 91 97 Albany & Susq, conv-- --- -3 ½ 106 110 105 107 95 104 9634 100 92 9934 9212 941s 92 34 94 8712 93 14 8934 92 7s 84 91 8434 87 12 8912 92 Del Lack & Western, 1907---- 7 104 104 104121041210118 1011g 10134101341017s102 14 ---- --- - ---- ---- ---- ---- ---- ---- --- - - -- ---- ---Morris & Essex, lst--------7 ___ _______ ____ ___ _____ __________ 111121171211712117121111211712 117 121171 2 ---- ---- 115 118 109 109 ---- -- -Consol, guar-------------1 --- - __ ____ __________ ____ 1213sl213s ---- ---- ---- ---- --- - ---- ---- -- -- 1171211712 ------- ---- --- N Y L & W. 1st- _________ _- 6 ___ _ ___ _ ___ _ ___ _ ____ ____ ____ ___ _ __ __ ____ 122 12214 122 122 ___ - ___ _ 1191211912 115 11912 115 1151s 118 118 Construction, 1923 ________ 5111381113s 1103411034 ______ __ 109 109 109121091211112111121091210912 1071410714 107 10734 108 108 102 102 -- -T e r minal and imPt--------4 _____ ___________ __ ____ ___ _____ _____ _ --- - ---- ____ 97 97 ---- ---- ---- ---- 90 90 86- 89 ---- ---Den ver & R. io GrandeConsol , 1936- _____________ -4 961 2 9734 94 9614 9334 96 94 95 9418 9512 9338 95 92 9312 93 5s 94 9212 9334 93 14 95 88 9112 91 91 1st, consol, 1936---------4 ½ 1021s 10218 __ __ ---- ---- ____ ---- - --- - - - - ---- ---- ---- --- - ---- ---- ---- --- - ---- 100 100 I~pro vement, 1928- ----- --- 5 \1043410434 1051210512 ____ -- -- --- - ____ ---- ---- --- - ---- ---- ---- -- - - ---- - -- - --- - 102 102 ---- --- 14 91 81 ~:: Mort1tage and coll tr. A---4 __ __ ---- 8734 8734 --- - ---- ---- ---- --- - ---- ---- -- -- ---- ---- --- - ---- - - - - - - -- --- ---- --- - -- - Gen cons, l st.1937 _________ 5116121171211 634117 Ch & Ind C'l R.Y, lst--------5 ---- ---- 1131211312 Chic Ind & Lou-R.efunding ___ 5 126 126 125 126 R.efunding, 1947 __ ___ _______ 5 llFs ll Fs - - - - ---- T 112 -- -125 ---- 116121121411214 111 11134 - --- --- - ---- ---- ---126 126 126 12612 1261? ---- 107 107 ---- --- ___ _ 104121045s 104-~s 105 103 -- - - ---- 1051410514 101 103 10312 103 104 9212 9112 92 9178 92 ___ _ 112 112 112 11212 ---- --- - -- --105121055s 111 110 llFs 111 112 ---- -- - - ---- ---- ---__________ __ 1081410814 ---- --- ---- ---1241212412 lllls lllls ---- __ __ ---- ---103 10334 8912 92 111 112 ---- ---111 111 106 106 109 109 ___ 2 11~ i~:~~: w:~t!:~~is1::: J 1-935g -94¾ -9334 -95- -92- -94- -9112 -921; -9214 -921; -92¾ -93- -9012 -91- -8878 -001; -8978 -91- -00- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis -88- : 98 RAILROAD BONDS. 190?'-Continued. BO NDS. January February March April May June July August September October November December Low Hi{Jh Low H'l{Jh Low H'l{Jh Low H'l{lh Low Htgh Low H'l{lh Low H'l{lh Low H'l{lh Low H'l{lh Low H'l{Jh Low Htgh Low Ht{Jh - - -- - - - - - -- -- -1 - - - - - - - - - -- - - - - - - - - - - - - - - - - - - - - - - - - - ----1----1---Detroit &. Mackinac-1st Iien- -4 ---- ---Gold ____________________ -4 92 92 Duluth &. I R- l st----------51111211112 Duluth So Sh&. Atl-1937--- 5 1103s112 Elgi n Joliet&. East, 1st, gold- - 5 ---Erie-1st ext, 1947 _________ -4 ---2d ext, 1919 - -------------- 5 ____ 3d ext, 1923------------ -4 ½ ____ 4th ext, 1920--------------5 ---5th ext, 1928--------------4 ________ 1st, consol, gold- _______ ____ 7 12912 12912 1st consol , prior lien, gold---4 97 9912 R_egistered - ------------- -4 ---- ---1st consol, gen lien, 1996- __ -4 8512 88 Registered --------------4 ________ Penn coll tr, 1951----------4 9034 9112 50ayear, conv, 1953 ________ -4 96121033.i Series B, 1953 - -----------4 ---- ---Buffalo NY &. E. lst---- --- 7 ________ ---- ---- 92 92 ---- ---- ---_ _ _ _ _ __ _ 9212 9212 89 89 _ _ _ _ _ _ _ _ _ _ _ _ _ ______ _ --- ---- 111 111 ---- ---- ---- ---- 107 107 ------- ---- ---- 110 110 ____ 11034110-34 ___ _ ---- ---- ---____ 109 109 ---- ____ 1071210712 ____________ 1031s 1031s ---- ____ ---- ---- ---- ---- ---- ---- ---- 107 107 ___ _ ---- ____ ____ ____ ____ 92 92 95 981s _ ___ 99 101 _ ___ 9412 941 2 ____ ---- ___ _ _ ___ 91 93 125 118 1201 4 120 120 95 8412 881 2 841 2 871 2 ---- --- - ------- ---- ---- ---- ---- ---- ____ ---____________ 8012 801 2 85 87 80 84 81 8314 8014 83 8012 82 7934 81 79 80 791s 8034 68 791 8 68 71 73 7514 8512 8512 ___ ___ __________________ ---- ---- ___________________________________________ _ 8912 9014 84 9014 85 861: 86 87 80 8612 83 84 80 83 80 83 76 79 7414 75 71 72 94 9634 76 95 7614 83 7612 81 7612 7712 78 8112 72 7612 7214 76 65 72 461° 6010 55 62 85 87 8034 84 73 7512 72 73 70 72 693s 72 68 68 ________ 62 66 49 ~ 58 - 51 56 - --- ____ ---- ____ 1201212012 --- - ____ 11612ll6~s 1111s 11712 ___________________________________ _ Chicago&.Erie , 1st,gold---51173s11814l16l211834l1312119 116 11712115 11512-- -- ----11414115 113141131 4 11012113 112 11214 10712109 108 110 Jefferson RR, lst--- ------- 5 ___________ ____ _ 101 101 1001410014 10012100-;8 ---- ---- ________ 101 101 ___ _ Long Dock, cons, 1935-----6 ________________ 130 130 ___ _ ---- 126 126 ---- ---- _______ _ ---- 123 123 ------- 96 96 N Y &. G :eenwood Lake ___ - _5 --- - ---- ---- ---- - --- - -- - ---- -- - - - -- - --- - --- - - --- - - - - - --- - --NY Susq &. West, ref ______ 5 ---- ____ ---- ---- 108 10~ ---- ---- 1101211012 ---- ---- 108121081 2 ___ _ ---- 103 103 Gen, gold, 1940----- -----5 103 103 1001210012 ---- ____ ---- ---- ---- ---- ---- ---- ___ _____ 100 100 ________ 9412 96 ___ _ Terminal, 1st, 1949 _____ __ 5 ____ ____ 1101211012 1103s11012 ---- ---- _______ _ ___________________________ _ Midland of New Jersey, 1st- 6 ---- ____ ---- ---- ---- ---- ---- ---- ---- ---- 10378103 7~ 1041210412 1045s 104~8 1031410314 1001210012 100 100 100 1011 2 Wilk &. East, 1st, 1942 ---- 5 _______ __ _____________ __ 1051210512 ________ ---- ---- ____ ____ ____ _ ______________ _ E vansv & Terre Haute, cons- -- 6 ________________________ ---- ---- ---- ____ 116 116 ____ ____ ____ ___ ____ ____ ____ _ 1s t gen, 1942------------- - 5 ________ 106581065s ________ 1041210412 _____ ___ ---- ---- 103121031!! ____ 100 100 ________ 90 Ft W & D C-lst------------ 6 10912111 110 11012 108 11012 10818112 111 11134 1061210712107 108 105 1011 2 105 107 100 106 100 1011 8 !>81 2 103 Ft W &. Rio Gran d e -l st-----4 ___ _ ___ _ 85 87 8434 8534 84 8478 ---- ____ 847s 847a 8212 8212 82 21 2 8112 8212 78 8034 73 73 ___ _ Galv H &. H of 1982 __________ 5 103 103 ________ 100 100 ---- ---- ________ ---- ---- ________________________ 9212 921 2 9212 921 2 90 91 Great Nor-C B &. Q col fr ___ -4 947s 9878 9434 9512 8914 9434 92 97 917s 9614 9134 947s 911 2 9334 891 2 9338 91 9338 831 2 931 2 8234 871 2 88. 95 Regis tered -----------------4 9434 961 2 941 2 951 2 885s 941 4 91 9514 94,18 9412 9214 9212 ________ 89-3.i 9234 921 4 921 4 84 921 2 841 4 8414 88 92 Gulf&. Ship Island 1s t ref ____ 5 ___ ___ __ 1021210212 ________ 99 99 100 100 98 99 98 98 101 101 98 9978 98 98 93 98 ___ _ Hocking Valley- 1st, cons- -4 ½ 104 10412 10412 1047s 1035s 10514 1041210512 104 105 1021210312 10034 10112 102 10234 99 9934 9712 9934 94 97 95 99 R.egis tered-------------- -4 ½ ____ ____ ____ ____ ____ 99 99 ___ _ Colum & Toledo 1st, ext----4 ____ ____ 99 99 ____ ---- ________ ___ _ 95 95 ____ ____ 108 1007s 1007s ________________________ 100 100 ____ _ _ _ _ _ ___ 125 127 12614 127 12734 12734 1271s 1271s 127 9714 98 961s 9714 95 9714 9334 97 9312 9412 91 ____ ____ 108 ____ 12814 931 2 ____ ____ ---____ 128 12814 _ __ _ _ ___ 125 9314 95 94 951s 88 ---= ________ Illinois Centralist, gold, 1951- ___________ _4 .Registered _____________ -4 1st, a-old, 1951 ----------- 3 ½ Extended 1s t gold , 1951- - 3 ½ (}old, 1952--- -- ------------4 Registered --- ----------- 4 Oold,1953 -- --- - - --------- -4 ___ _ ____ ________ ________ ________ ____ ____ ____ 1073810738 ___ _ 1001 2 10018 ___ ___ __ 100 100 ________ 100 - - - - 104 100 104 96- ---- - --- - --- ---- ---- --- - -- -- ---- --- - ---- ---- ---- ---1021 2 10234 102 102 101 ________ 98 98 10I121031 2 10014l02 10034 10214 ________ 9812 98-'>8 ________________________________ 97 97 10234 10234 ___ _ _ ______ _ 8934 91 8934 8934 ___ _ 89 - --- 89 7834 7834 7834 7834 ___ _ ___ _ ____ 89 89 ___ _ 102 102 ___ _ ____________ 100121005s ___ _ ________________ 97 97 _____ ______ _ ________________________ 1181411814 ___ _ ____ ____ ____ ____ ____ 101 97 10314, ___ _ 98 9838 100 100 ___ _ ___________ _ 9812 9812---- ____ 98 99 ___ _ ---98 97 981 8 98 89 --- - 89 9712---- - --- 97 9S 99 97 14 96 97 96 Regis tered - ------------ -4 Cairo Bridge, 1950- ________ -4 Louisville Di v, gold ------ 3 ½ --- St Louis Division , 1951- ---- 3 Gold , 1951- - - ---------- 3 ½ ---- 8212 8212 ---Western lines, lst--------- -4 ---- 9734 9734 ---Carb &. Shaw, l sf- __ ______ -4 C St L &. N 0, 1951- ------- 5 ---- 106 106 Gold, 1951- --- - -------- 3 ½ ________ 8814 881 4 ___ _ Mem phis Division, l s t--- -4 ________________ 1001210012 ________ 1001210012 ___ _ 97 ---- 9812 9812 9812 9812 - - -- ---- 97 St Louis South , 1st gu _____ -4 ________________ 97 97 ___________________ _ Ind Dec &. West- lst- ------- 5 105 105 1041 2 1041 2 ___________________________ _ ---- 9814 9814 ---Ind Ill &. Io wa- 1st, 1950--- -4 ________ 100 100 ________________ 9312 9312 ___ _ In ternat&.GtNor--l s t,1919 -- 6 115 11512115 115 11412115 11312114 111 113 112 112 ________ 114 114 ________________ 101 105 10214 105 2d, 1909 ------------------- 5 99 9958 99 9912 95 95 95 98 9612 973.i 9512 9612 97 98 9712 98 95 96 94 95 90 92 9012 9012 3d, 1921- ------------------4 77 79 ________________ 71 73 65 65 --- - ---- 65 65 ____ ____ ________ 60 60 ---Io wa Central- 1s t, gold------ 5 10912110 109 111 __________ ____________ __ 1021210212 101 101 101 102 1013s 10212101121025s 100 10J12 100 100 Refundi ng, 1951 ------------4 ________ 85 85 ________________________ 82 82 ____ ____ ____ ____ ____ 73 75 7358 7334 ___ _ K a n City So--1 st, 1950- __ -- - _3 7012 72 1112 7218 69 1112 6712 73 69 71 6912 701g 6934 707s 6712 7013 69 70 67 70 65 66l2 6~ 70 Lake Erie & Western-l st----511212113121131211334 113 114 ________ 11253113 1121211212111 1111 2 112 1121 8 ________________ 110 110 109 109 2d ---- - ------------------ 5 10718 10778 10778 10778 ________ 1051 2 1051 2 105a4 1011s 10612107 ___________________________ _ Northern Ohio , lst------- -- 5 ___ __________ ___________ 110 1101s ________ ___ _____________ ____________ ____________ ___ _______ _ _ Leh ~ N Y-1st, guar- - - - --4½ 10712 10712 107121071:! 1071210734 1063410634 107 10738 107 10734 1043410573 10578 106 10512 106 106 1061 2 102 10312 lOil2 lOllz Regis tered-------------- -4 ½ ________________________________ 106 106 _______ ____ _______ ___________ ______ _ Lehi gh Valley (Pa), 2003------4 ____ ____ ____ ____________________________________________________ 87 87 87 90 Lehi gh Valley Ter--lst, guar- _5 ____ ___ _ ____ __ __ ____ ____ 11313 11314 _ __ _ _ ___ 112121121 2 ___ _ _ _ _ _ _ _ _ _ _ __ _ _ __ _ _ ___ 106 106 _ _ _ _ _ __ _ Lehi gh Valley Coal-1st. guar-5 ____ ____ ____ ____________ 1121211212 _____ ______ _____ ________ 106121061 2 100 100 _______________ _ Lehigh&. N Y-1st, guar-----4 9634 96-14 ___ _ _ ___________ 9553 955s 95-33 953s ___ _ ____ ____ ____ ____ _ __________ _ Long Island-1st, 193L ______ 5 ___ _ ____ 114 1141g 113 11318112 112 ___ ____ _ 112i21121211034 11034 11034 l1034 110 110 1093410934 ________ 10834110 General mortgage, 1938- ____ 4 9813 99 98 9 14 9512 9512 96 96 96 96 92 92 931 2 95 _ _ __ 89 89 89 89 _ __ _ _ _ _ _ 82 82 Unified, 19 49--------------4 94 95 95 9512 95 95 947s 9512 ________ __ __ ______ __ ____ ________ 84 84 ___ _ Guar ref, gold, 1949 ____ ___ -4 98 9912 9914 9912 96 9612 96 98 9613 97 9412 9512 9412 96 94 941 2 92 94 92 9212 ________ 86 92 Brooklyn&. Mon, lsL-- ---- 5 1021210212 ____ ___ _ 100 100 ____ ____ ____ ____ ____ ___ _ ____ _ ___ 9934 9934 ___ _ NY&. R. B, lsf- ____________ 51091410914 ____________ __ __ 105 105 ___________________________________________ _ Louisiana &. Arkansas- 1st- __ 5 ____ ____ 1031210312 ___ _ _ __ _ _ __ _ ____ _ __ _ _ _ _ _ _ _ _ _ _ ___ _ ___ ____ 100 100 102 102 ___ _ Louisville &. Nashville-Oen - - 6 115 11514 _ __ _ ____ 1151411514 _ __ _ _ __ _ 117 117 11413 115 ____ __ __ _ __ _ _ ___ 115 . 115 _ _ _ _ _ ___ 112 114 112 112 Gold , 1937 _______ __________ 5 ___ _ ____ 1173411734 108 10812 ___ _____________________________________ 111141111 4 110 11114 ___ _ Unified, gold, 1940 -- ______ -4 100 101 100 10012 9712 100 97 10173 100 10112 9812 10012 951 8 981 2 951 8 !J778 95 951 2 92 97 92 94 93 951 8 Coll trust, gold, 1931- _____ _5 ____ ____ 109 109 109 109 _ _ _ _ _ ___ 10612 10612 10512 10512 10614 1061 4 106 106 _ __ _ _ ___ 105 1051 2 _ _ _ _ _ ___ 10314 1031 2 Coll tr, 5-20s, 1923 __ ______ -4 97 9753 9773 98 95 9734 9533 96 95 96 9234 9234 9234 95 94 95 9334 941 4 9034 9112 89 89 8678 89 EH & N, 1st, 1919- -------- 6 ________ 112 112 ________ 112 112 1131211312 ____ _ ___ 111 111 ___ _ N O &. i\\obile, lst- --------- 6 __ ______________ 121 121 ________ 1257s 12518 ___ _ 120 120 ________________________ 117 117 ___ _ ________ 7212 7212 ___________________________ _ --- 112 112 ____________ ___________________ ____ _ 9714 9753 97 97 96 96 9512 97 9612 9712 95 95 ___ _ 91 92 9112 9134 87 91 8634 8712 ___ _ ___ _____ 1131211312 --- - _______________ _ So&. No Alabama, 1936-- - - - 5 ________________________ 1091310913 111 111 ___ _ Manha ttan-1990 ------------4 9912100°3 100 10012 991s 9973 9712 9912 98 100 97 98 9512 971 2 Me tropolitan Eleva te d , 1 st- - 6 10014 10178 102 10212 1023310212 1021s 10313 103 104 10314 10312 1005s 10018 Mexican Central-Con sol- ____ -4 84 86 8314 8512 81 8413 81 83 77 8112 7778 82 80 8134 1st consol incom e - _______ ___ 3 23 2734 2312 2512 201s 24 2214 2514 1912 2214 20 21 21 2212 2d consol incom e-----------3 1712 21 17 19 1412 18 17 1814 ___ _____ 14 15 1512 1512 Minneapolis &. St Louis1st, gold , 1927------------- 7 ---- ____________ 130 130 ___ _ Iowa extension, 1sL------ -- 7 ---- ____________ ---- __ __ 105 105 ___ _ Pacific Ex tension, l sL----- - 6 118 11812 --- - ____ ---- _______ _ 1st con, 1934 , gold ---------- 5 109 110 110 11012 1091:!10912 105 10712 108 108 ____ _ ___ 1st and refunding, 1949 ___ _ -4 9314 94 92 9333 ____ _ __ _ 87 87 M St P &. S SM, 1938 -------- -4 ---- _____ ___ ---- 99 99 96 97 ________ 98 98 --- MS SM & Atl, 1926----------4 --- - ---- ____ ---- ---____ 102 1021s ---- St Louis Division, lst- ------ 6 • 2d gold, 1980 _____________ 3 Pensacola & Atlantic, lst--- 6 Ken Cent, 1987--------- -- -4 L &. N-South , fo int_ ______ -4 NF&. S 1st, guar, 1937 _____ 5 Missouri Kansas & Texas1st, gold , 1990------ - ----- -4 2d income, 1990- __________ -4 1st extension, gold, 1944 ____ 5 1st and refunding, 2004 ____ -4 97¾ 983s 87 88 103 104 8512 86 General sinking fund , 1936 .4 ½ 86l3 8813 St Louis Division, lst------- 4 87 87 Dallas&. Waco, lst-- - ------ 5 10412 10412 KC&. P, 1s t, 1990-------- -4 Mo Ka.a &. Okla, lst-------- 5 'MK&. T ofT, lst--------- - 5 Sher Sh&. S, 1st, guar------ 5 TeXas &. Oklahoma, lst----- 5 Mo Kan & E lst----------- 5 Missouri Pacific1st consolidated ------- - ---- 6 Trust, gold, 1917----------- 5 Regis tered ______________ 5 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis - --- ____ 10612107 106 10612 --- - ---106 107 110131101g 119 6212 6212 ------- 120 11834120 93 - - - - - - - _ - - - _ _ _ _ 8712 88 - - - - 9712 971 2 10034 10114 7712 81 15 20 10 1512 ___ ___ _ _ 10034101 76 7834 16 19 10 15 103 86 ------ - 103 87 9834 9453 9512 9412 9612 94 96 9734 9812 95 98 9514 9834 96 837s 8512 80 85 8114 8412 83 8412 8314 8434 845g 8714 81 8414 10312104 103 104 1033g 105 102 10214 10112 103 10012 10212 101 101 86 6 81 8312 ___________ _ ---- 83 83 83 83 87 84 85 82 85 87 8712 83 87 8312 8612 8614 87 85 ---- ---- 82 82 85 85 84 84 ___ _ __________________ _________________ _ 9512 9512 ---- ---- 9512 9512 ___________ _ 10634 10714 ---- ---- -- -- ---- 10414 105 ____ ----10512 10512102 102 106 10614 102 104 103 10373 104 10412 103 10414 103 10358 10312 10312 ---- ---- 104 104 ---- ---- ---- ---- ---- ____ 1043410434 105 105 ---- ---- ---- ---- 104 104 1031210312 ---- - --- ---111 11111111014112 10812 10812 10612108 ___________________ _ 1193g 1195311978 118 93 1155311612 115¾ 11512 ________ 116 116 92 99 73 11 8 95-34 10114 7838 1612 13 88 9014 9812 10014 71 7412 1112 1312 7 10 ------- 75 95 75 95 9~ 75 _--- 98 84 9512 7812 97 7714 77 - --- 9212 7912 95 ---747g ---- 95 8112 97 - - -bO 95 95 9534 97 ---- 95 96 8012 83 101 10212 79 7912 84 8478 ---- 8912 9612 75 83 10 1 102 79 7912 8114 847g 82 82 9012 75 93 7714 7012 ---- ---- ____ ________ --- - ---------- 98 9812 96 101 ---- ---100131001g 98 102 9012 91 95 98 ------98 89 9114 10053 10112 74 7634 1312 1512 814 12 11614 11614 ________________ 103 103 10412 105 10414105 101 10134 10013 102 10134 10214 10078 10112 10114 10112 ! 00 10134 9712100 9~12 99 8912 91 9012 9~1 ---- ---- 1041210412 ---- ---- ---- ___________________________________ __ ______________________ _______ _ _2 99 RAILROAD BO DS. 1907 - {jontlnued. J anuary February I March Apr-U May June Ju},y August September October I November December ______ B_O_N_D_S_. _____ ,_Lo_w __ H_to_h Low Htgh L<tw Htgh L<tw High Low High L<tw High Low High Low High L<tW High Low High Low Hl,{Jh Low High Missouri Pacific- (Concluded). ,, 1st. collateral, gold, 1920- - - _5 10412 105 101 10312 101 102 101 10214 102 10214 101 10212 1015a 10158 9814 99 9734 99 90 991 8 912 90 90 9234 40-yr, 1945, gold--- ------- -4 8912 8912 8914 90 86 8612 8812 8912 ________________ 86 86 86 86 3d, 7s, extended to 1938 ____ -4 ---- ____________________ 98 98 9712 9712 ___________ _ Central Branch R.Y, lsL- ----4 9412. 9634 9414 9414 93 93 ________ 92 02 90 90 ___ _ Central Branch, Un Pac, lst- -4 ________________________ 92 9212 ____ ____ ____ ____ ____ _ ___ 90 90 ____ ____ 74 74 PacofMo,lst,ext---- ----- -4 101341013.1 ________________ 101 101 1007a10I3a 1013glOI34 101 1011 2 98 98 ____ _ ___ 100 100 2d , 1938, ext--------- ---- 5 1171411714 116 117 11G1 8 1151 8 ___ _ ____ ____ ____ ____ ____ ____ ____ ____ _ ___ 112 112 St L & Ir Mtn gen & I, gold- _5 1133s 114 113 11334 10912113 110 11012 1097s 111 110 11012 10978 11012 108 10918 1081 2 109 104 1011 2 100 103 1031a 1061 2 Stamped ------ ----- ------ 5 ________ ---- ____ 1091210912 ________________ 1091210912 ____ _ ______________ _ Unifying & refund , 1929- _ -4 86 881a 35· 8712 80 85 8012 8512 8412 8512 81 85 83 8434 83 8434 83 8434 80 85 70 70 71 77 R.iv & Gulf Div, lst-------4 9134 9214 90 9134 85 91 88 9212 90 90 ---- ____ 88 88 88 88 8734 88 871 2 881 4 8512 851 2 80 SI Mobile & Ohio-New, 1927---- 612114123 1237s124 12234 12284 1223412234 1231412314 ____ _ ___ 117 117 1111 2 1171 2 ___ _ 1st, extension, 1927-- ------- 6 - -- - ____ ---- ---- ---- ____ ---- ____ ---- ____ ---__________ __________ 103 103 ___ _ Gen mor;t, 1938-------------4 9312 94 ---- ____________ 89 9112 8412 8412 ____ _ ___ 83 83 ________ _______ _ ___ _ Montgomery Division, l s t--- 5 ---- ____ ---- ____ 1081410814 ________ 1081210812 ---- ____________________________ 102121021:? ___ _ NashvChatt & St Louis-lst-- 71161211612 ---- ---- 1165s ll73s 116 11612 11G5sll7 1173sl185s 1143sll534 1141 2 1151 8 1121 2 1121 2 1121 2 1121 2 108 109 ____ ---Cons, gold, 1928---- -------- 5 11314116 113~sl1334 1133411334 ---- ____ 1111:? llH11121211212 1121411214 1121 2 1121 2 111 111 10s1 2 1031 2 102 104 10114103 Jasper Branch, lst----------G ---- ________ _______ _____________ 1161211612 ---- ________________ ______________ _ _ National of MexicoPrior lien, 1926---- - ------4 ½ 1021410214 ________________________________ 101 101 9814 9834 ____ ____ ____ ____ ____ 9512 951 2 _______ _ 1st, consol, 1951--- ---------4 8414 8712 86 87 8512 8614 82 82 ---- ---- 8214 83 8112 s21 2 7912 82 781 2 731 2 80 so 75 75 75 7734 NY Cent & Hudson R.iver-Gold, 1997- _____________ _3 ½ 9314 9334 927s 935s 90 93 9034 9412 9212 945s 9114 9212 89-34 9058 88 9038 88 391 4 85 9 85 881 4 881 9 91 Regis tered -- - --------- 3 ½ 921? 9212 ________________ 921? 9414 93 93 8912 90 891a 3918 88 88 88 88 8412 841? 8534 8534 Debenture, gold, 1934 ______ -4 9812 99 977s 987s 94 97 9434 9 93 9514 93 941a 94 95 9312 94 9314 941 2 9034 9358 86 ss1 2 8734 91 Lake Shore, collateral- ____ 3 ½ 8612 8812 84 851a 83 84 83 8512 827a 85 8214 83 83 84 791a 84 791 2 so 771 2 791 2 73 781 2 7414 7614 , Registered -------- ---- 3 ½ 8414 87 83 84 8134 84 8314 334 ____ ____ ____ 83 83 78 781? 79 79 7412 77 721? 75 74 75 Alichigan Cent'!, collateraL3 ½ 8614 8714 83 85 ________ 84 8412 8412 8412 80 83 8314 84 83 83 - 80 80 75 80 72 - 72 7312 75 Registered - ------- ---- 3 ½ 8434 8434 ____ ____ ____ ____ ____ ____ ____ ____ ____ 71 71 ___ _ BeechCreek.-lst, guar ______ -4 102 102 102 10214 ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ _ ______ ____ _ Mohawk & Alai, lst- ------- -4 ---- ---- ---- ---- 9712 9712 ---- ____ ____ ____ ____ ____ ____ ____ ____ _ ___ ---- ___ _ NY & Northern, lst-------- 5 ________________________ 11012111 1101211012 ---- ____ ____ ____ ____ _ __________ _ West Shore, guaranteed - ___ -4 103 105 10334105 102 103 10234 104 103 10412 10334 105 1001a 103 9912 10134 10014 101 98121011 2 94 99 9712 10014 Registered _________ ____ _4 102 10314 102 103 10012102 1005s 10234 10212 1031s 102121027a 10034 1011 2 9812 101 9834 9934 97 100 921? 96 95 9812 LS & MS, gold, 1907----- 3 ½ 9312 9412 0312 94 9134 9434 92 9634 9312 9434 91 92 92 9238 9234 93 94 95 85 95 8434 861 2 87 91 Registered -------- - - 3 ½ 94 94 ________ 927a 927s ________________ - --- __ __ ____ ____ __ __ ____ ___ _ 91 91 83 88 _______ _ Debenture, 1928--------- -4 98 9912 9614 981a 92 9414 9312 9712 917s 9412 9214 9312 92 9338 9112 941 2 89 90 86 90 83 86 8512 8958 Registered --- -------- -4 ---- -- -- ---____ - - -- ---- ---- -- -- --- - ____ ---- ____ ____ 8112 8112 -- -- ___ _ 25- year, gold, 1931- ------ 4 ________ ---____ 8912 9034 8934 9034 9014 91 8914 9078 88 90 8312 901 2 ·s3 8534 8534 8834 Registered -------- --- -4 ---- ---- ------- ____ ---- ---- ---- 91 91 ---____ ---- ---Michigan Central, 1940----- -4 10034 10034 ____ ____ ____ ____ ____ _ ___ -- -- ___ _ 1931 - ----- -- --- --------- 5 ---- ---- ---- - -- ---- ~---- ------- 105 105 J L & S, 1951----- ----- 3 ½ 9412 9412 ------- ____ ____ ____ _ __ _ ---- ---1st, gold, 1952-- -------- 3 ½ ---- ---- ---____ 9212 9212 ---____ -- -- ---Mahoning Coal R.R.-------- 5 ---- ____ ---- ____ ____ _____ ____ ___ 109 109 ________ ---- ---R. W & O, cons,lst--------- 511314 114 1131411314 113 113 11014111 111 111 110121101 2- - -____ 1091 8 10918 106l210658 10234 10612 10412105 Oswego & Rome, 2d- ------- 5 ---- ___________ _ ________________________________________ 103 103 ___________________ _ Utica & Bl R.iver---------- -4 -- - - ____________ ---- ____ ---- ____ ____ ____ ____ ____ ____ ____ 103 103 ---Pine Creek, 1932--- -------- 6 ____ ____ ____ ____ ___ _ ____ ____ ____ ____ ____ ____ ____ ____ ____ ---- ____ 107 107 ---N Y Ch & St L-lst- _______ __ -4 1025s 10314 103 10314 103 1031 4 10014 1011s 101 1017a 101 !Olla 10078 101 10034 10034 99 1001 4 9718 9738 94 94 93 9512 Registered---------------- -4 ______ _____ __ ___ 10214 10214 ___ _ _ ______________ _ N Y N H & HartfordHousa tonic, 1937 ____ _______ 5 ____ --.- · ---- ____ __ __ ___ _ __ __ ____ ____ ____ 113 113 ---- ---- ---N YO & W, ref. 1st- __ _______ -4 991a 101 100121011 4 Y5 93-,8 96 9812 96 98 96 9714 9738 931 2 94 98 92 9334 92 9434 85 91 89 9112 Norfolk & Southern, lst ------- 5 ____ ____ ____ ____ ____ ____ ____ ____ ___ _ ____ 100 100 - - -Norfolk & Western, gen------- 61291212912 130 130 ________ 129 129 126 12612 1261212612 ____ __ __ ___ _ _ ___ 115 115 ---Impt & Ext, 1934--- -------- 6 - - -- __ __ ---- ____ ---- ____ ---- ____ ---- ---- 129 129 ---- ____ --- 8812 94 86 9012 9112 95 N & WRY, 1st, con--- ----- -4 9812 9934 9734 9858 9712 9858 9712 9&18 95 98 9314 9578 9312 9534 93 9512 93 95 91 91 ---Registered --------- ----- 4 ---- ---- ---- ---- --- - ---- ------- ---- ---- ---Di visional, 1st lien _______ -4 ________ 9618 961s 95 95 ____ 8878 91 88 88 85 87 8714 811? 8112 ---85 86 78 86 75 - 80 76 79 Pocahontas C & C joint_ ____ -4 9012 9112 8912 91 85 9112 3;; 88-14 8684 90 8612 87 85 87 85 86 85 9212 92 92 90 90 8712 8712 92 Sc Val & NE, lst----- ----- -4 991a 9912 9912 9912 9912 9912 98 9812 96 96 96 96 92 92 92 93 Northern PacificPrior Jien, 1997------- ----- -4 1015Rl0214 1007al02 100 101 1001410214 100 102 991210112 993410078 96 10014 9612 9978 9358 991 2 94 98 98 10078 Registered _____________ -4 10034102 100 100-34 9812 10014 99 10012 10014 10114 98 10118 100 10014 97 991 2 96 97 9834 9834 -- -95 99 General lien, 2047- ________ _3 73 7414 71 73 70 71 6934 7214 7118 72 69 7158 70 7158 6512 7078 67 6834 67 6934 6212 67 6512 69 Registered ___ ___________ 3 - - - - - - - - 71 71 - - - - _ - - - 70 70 70 70 - - - - - - - - - - - - - - - - - - - St Paul- Duluth Division--- -4 9534 9534 - - -- ---- ---- ---- ---- ---- ---- -- -- ---- ---- ---- ---- ---St Paul & or Pac--- - ------ 6 ____ ____ 120 120 ________ 1221212234 1223412234 _________ _______ 1161211612 ---St Paul & Duluth , 1st, 1931- - 5 ------- ---- ---- ---- ---- ---- ---- ---- ---- 1171411714 -- -- -- -- ---- --- - - - - St Paul & Dul, 2d, 1917----- 5 ---- ____ 10&3410834 ---- ____ --- - ----1061210612 ---- ---- ---- ---- ---- ---- ---- --- - 100 100 ---Nor PacTerCo-lst-----~---- 6 ---- ________ ---- 1133411334 --- - ---- 1135811358 - --- -- -- ---- ---- - - -- ---- - -- - -- - - --- Ozark & Cherokee Cenlral- ---- 5 ---- ____ 9712 9712 ________ ---- ---- 97 97 ---- ____ ---- ---- ---- ---- 9612 97 --- ---- 90 90 Pacific Coast Co-lst---- - - --- 5 109 109 107 10718 107 107 ---- ____ 106341063.t 1021210212 103 103 105 105 102 105 102 103 99 100 100 10I1r Panama-1st, sinkingfund- -4 ½ ---- ____________________ ---- ---- 103 103 1023410234 1023410234 ---- ---- ___ ___ __ ---Pennsylvania Co-1st- ___ --4½ 10512 107 106 106 105 106 10512 10512 10512 1057s 1053410678 10312 104 10314 1031 2 104 1041 2 104 104 100 100 10312 103qr Registered ------------4 ½ ---- ____ 10534105-34 ___ __ ___ ---- ____ -- - - ---- ---- -- -- 101 1037s ---Guar collat trust ctfs, B-- - 3 ½ ---- ---- ---- ---- ---- - --- ---- ---- 83 84 ---- ---- ---Tr Co ctfs, guar , 1916----- 3 ½ 95 95 9512 9512 9512 9512 95:ls 96 9314 0314 ---- ---- 94 94 ---93 - ---- -- 93 Guar, gold, 15-25=Yr, 1931- - -4 9712 9734 _____________ ___ ---_ _________ __ ___ _ 87 88 84 85 ---- 88 Ch St L & P, 1st, 1932------ - 5 115 115 ---- ---- 11&1411612 ---- ---- ---- ----1151211512 ------- 110 110 ---Erie & P, Ser B----------- 3 ½ ---- --- - ------- 92 92 ---- ---- ---- ---- ---Toi ·WV & O, lst, "A" ----4½ ---- -- -- ---- ---- ---- ---- ---- - - -- --- - - - -- ---- ---- ------ -- 97 103 ---p CC & St L. Ser A-------4 ½ 1091210912 __________________ __ ___ _ 1081410814 1011a 10714 1071410714 ___ _ -- -- 107 107 ---Series B, 1942- _____ __ _-4 ½ __ __ ____ 10914 10914 _ _ _ _ _ ___ ---____ 106341063_1 10714 10714 ---Series D, 1945------------4 98 98 ---- ---- 10034100•34 ------- -- - - ---- ---Series E, 1949----- ---- - 3 ½ ---- ---- 91 91 ------ - ---- ---- ---Pennsylvania RR.Real estate, 1923----- - - --- -4 ____ ____ 101 101 103 106 103 103 ________ 1037810378 ____ ____ 103 104 103 103 Cons, gold, 1919------------fi ------- ---- ---- ---- ---- ------- ---- ---- --- ---- 105 105 Consol gold, 1943 __ ________ -4 ---- ---- ____ ---- ---- ---- ---- --- - ------- ---- ---- --- ---- 101 101 Convertible, gold, 1915 ----3 ½ 92-34 95 9212 9312 8812 9278 9058 9318 9 1 9312 891a 9078 90 18 911 2 8712 9038 8734 90 8312 9014 84 89 86 14 885s. Registered ------------ 3 ½ ---- ---- ---- ---- ---- ---- ------- ---- ---- 91 91 ---- ---- ---- ---- ---- -- -- ---- ---- ---- ---Convertible, gold, 1912 - _3 ½ 957s 10014 9514 9612 91 14 957s 94 9612 9212 95-38 9238 94 14 9334 9434 9112 9414 92 9412 8814 9412 8614 9012 8934 91 14 Allegheny Valley, 1942----- -4 ---- -- -- -- - ---- ---- ---- ---- ---- 99 99 - --- ---- ---- ---- ---Pere Marquette-Flint & Pere Marquette-- ---- 6 115 115 - --- ---- ---- ---- - - - - ---- 110-14110-34 ---- ---- ---- ---- 1121211212 ---- ---- ---- ---- ---- ---- -- -- ---1st cons, gold, 1939 ___ ____ 5 ---- ---- ---- ---- ---- ---- 1003410034 ---- ---- ---- ---- ---Pitts Shenan & LE lst1940-- 5 ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- -- -- ---- ---- ---- ---- ---- ---- ---- --- - ----107 12107 12 Readin g-General, 1997 __ ____ -4 9734 9&34 97 9&5s 9434 9714 9534 9712 9634 973a 965a 97 94 9514 91 9514 91 9412 8612 9414 8714 93 93 951~ Registered - - ------- ----- 4 ------- ---- ---- ---- ---- 95-34 95-34 ---- ---- ---90 5 85 8512 8512 Jersey Central, collateraL - _ -4 96 9612 9518 9614 9478 96 9234 9418 9378 9414 9414 9412 90 92 - --- 8712 8712 ---Rutland-0 & L C-lst-------4 ---9,5 95 ---94 94 ------- 88 88 - · -Rutland- Canadian, lst ------4 ---- ---- 95 95 ---- ---- ---- ---- 94 94 ---St Jos & Gr Island-1st, 1947- -4 91 9214 9212 9212 ---- ____ 91 91 90 9012 q2 82 ---St Louis & San Fran R.yOeneral, 1931- ____________ _6 1231212312 ___ _ _ _ _ _ _ ___ _ ___ 1231212312 _ ___ _ __ _ _ ___ _ ___ ---- - -- _ 118 118 11734 11734 11778 1181s 110 110 103 106 General, 1931---- ---------- 5109~8110 1101811012 107 110 1081210834 109 109-34 109 1Q9 10512 107 106 106 106 106 105 106 9912 104 103 105 RR.-Cons, gold, 1996------ -4 93 93 91 91 _______ __ ____________ ___ __________ __ ___ _________ ___ ______ ______ _______ _____ _ Refunding, 195L _________ 4 8112 8212 80 8218 7734 s114 78 8Fs 7912 8158 7812 8014 7738 79 75 7712 7534 78 7034 77 6612 71 7112 76 Kan City Ft Scott & M, con -- 6 119 119 -- -- ---- ---- ---- ---- ---- 11612 11612 ---- -- -- -- -- --- - 116 116 ---- -- -- ---- -- -- --- - ---- no 110 Kan City Ft Scott & J\'l, reL _4 8134 8234 8134 8212 7934 82 7814 82 7914 8012 77 7934 7812 80 73 80 7478 7518 65 73 61 69 68 70 St Lou S W, 1st, 1989- ______ _4 9414 95 931s 9412 92 93 9278 9434 91 9212 89 91 89 90 8912 9012 8914 8914 8712 89 80 86 8212 8512 2d income, 1989--- --- - - --- -4 82 82 82 83 7912 8014 80 80 80 ll2 80 80 77 797s ------ - 70 71 60 60 6518 68 Consol, gold, 1932---------- 4 77 79 75 7788 73 77 75 77 75 761 2 72 7334 7438 75 70 72 70 71 65 7012 5414 6312 57 63 Gray's Pt Terminal- -------- 5 - --- ---- ---- ---- - - -- ---- 101181011a ____ _ ___ ---- ---- ____ _ ___ --- - - --St Paul M & M-2d- ---------- 6 1051210558 ____ ---- ________ --- - ---- 103 103 103!!81033s ---- ---- --- ---- 101 101 1st, cons, 1933-------- ----- 6 131 131 ________ 131 131 131 131 131 131 130 130 ---- - --- --- ---- 125 125 119 119 ---- -- -Reduced t0---------- --- 4 ½ 108 10814 1081210812 108 1083s ______ __ 107581075s 107581075s 1051210512 ___ _ _ ___ 104 104 ---- ---- 102 1037s Dakota Extension- --- - ---- - 6 1067s 1067s ______ __ 107 10714 ____ ____ ________ 1041210412 1043s 1043s 104 104 ____ ---- ---- ---- 100 100 ---- ---Mont Ext, 1st, 1937 __ _______ 4 ________________ 9712 9712 99 10012 995a 99-58 973a 99 9814 9812 9812 9812 97 97 9612 961:i 94 9412 93 14 931z EM 1st div, lst- --------- - -5 ________________________________ 1001210012 1003s10012 ---- ---- 1011a 101181001210134 ---- - - - 99 99 Mont Cent, 1st, 1937--- ----- 6 ---- ----1311213112 ---- ---- 130 131 ---- ---- ----- -- 125 125 ------105 105 1st, guar, 1937 ________ ___ 5 --- - ---- ---- ---- ---- ---- 112 112 1151211512 ------- ---- ---- -- - Santa Fe Prescott & Phoenix -- 5 ________ 1061210834 ---- ____ ____ ____ ____ ____ ____ ---- 102 102 102 102 ---- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD A ID MISCELLANEOUS BONDS. 100 1901-C:ontinued. BO DS. January February March April May June July Augu11t September October November December Low High Low High Low Htgh Low High Low High Low High Low High Low High Low Htoh Low Hi{Jh Lwo High Low High --------------1----1----1-- - -1- - - - - - - - ----- - - - - , - -- - - - - - - - - - - - - - - - - Seaboard Air Line- __________ -4 81 8234 7934 81 993410014 ---- ---1071210712 Collateraltrust.1911--------5100 10012 Atlanta-Birmingham, lst-- -4 88 89 Georgia&. Ala, 1st, cons-----5 107121075s Seaboard&. Roanoke, lst-- --5 ---- ____ Southern Pacific Co1st, refunding, 1955 _______ -4 9414 947s Collateral trust, 1949--------4 8812 8934 Registered --------------4 ---- ---- 74 7934 7312 75-5g 97 97 98 14100 ---106 10734 ---- ____ ---- ---- 106 106 ---- ---- 7112 75 96 12 97 71 7112 70 96 12 96 34____ 71 65 70 _ ___ 70 71 62 943g 943s 95 6812 59 63 95 ---- ____ ---- ---- ---- ---- ___ _ ---- ---- ---- ---- ---- 6412 67 90 90 -- -- 99 9514 9014 9414 9134 9434 90 14 94 8734 9134 9034 92 88 9114 88 8914 90 85 893-1 8512 9014 88 9012 86 8712 87 8712 85 8734 8112 86 ---- 88 88 84 84 ---- ____ ---2~-year, collateral trust-----4 ---- ---- ------- ---- ---- ---- ____ 95 9534 ---Central Pacific, 1st, ref, gold-4 9934 1003s 981g 9834 95 981g 96 977s 94 · 965g 93 951g 9514 9612 94 95 92 94 Registered ___________ - -4 99 99 _ _ _ _ _ __ _ _ _ _ _ 933s 933g ___ _ Mort, guar, gold, 1929 --- 3 ½ 85-34 86 86 86 8212 8534 84 84 85 85 8214 8214 83 84 8214 84 ________ Through St Louis, lst---- -4 ________ 981s 981s ____ ____ ___ _ 903-1 90-34 ____ _______________ _ G H & SA, 1st, 1910-------- 6 1051210512 ---- ---- 103 103 1031210312 ------- ________ ---- _______ _ M & P Div, lst----------- 5 ________________________________ 1051210634 105 106 ___________ ___________ __ Houston & Texas Cent, 1st- __ 5 10914110 1103s 1103s 11012 11012 111as 11112 11112 11112 -- __ --- _ 1095s 110 109121091 2 1095s 111 Cons, gold, 1912---------- 6 111 112 ---- ---- --- ---- ---- ---- ---- ____ ____ General, gold, 1921------- -4 9212 947s 94 94 93 93 94 94 93 93 9234 93 9312 9312 ____ __ __ 90 90 Nor of CaL 1st, guar-------- 6 ________ 112 112 ------- ---- ---- ________ --- Ore & Cal, 1st, guar--------- 5 98 98 --- - ---- 101 101 ---- ---- ---- 1003g1003g ---83 San An&. Ar Pass---- ------4 86 87 85 87 81 86 82 86 8312 86 8312 8512 8212 84 80 821 2 80 So Pac Ariz, 1909----- ----- 61031210312 1031210312 ________ 104 104 ___ _ 1st, 1910- ______________ - 6 1043s 1043s 1041410414 ___ _ 94 89 83 70 9012 82 86 74 8514 85 7934 80 90 ____ ---- ____ 9334 8812 91 81 83 ---- 104 104 ___ _ ___ _ _ ___ 87 87 70 Sou Pac of California, 1st , 1912, E & p _____________ _fi ____________ ---- ____ ---- 107 107 1st, cons, guar, 1937 ______ 5 ________ ________ ---- ___ _ ---- ---So Pac, New 1'\ex, 1st--- - - --61035s104 ________ 104 104 ____ ---T & 0, Sab Div, lst ------- 6 ________ 1071210712 ---- ---- ---- ---Southern-1st, 1994- ________ _5 1121-11133-1 11034 1135s 10 341105s 10914 11112 M & 0, coll trust, 1938------4 92 94 9312 9312 89 92 88 91 ---8334 ------- 75 82 92 92 90 82 ___ _ 94 94 ___ _ ___ _ ____ _ ___ 10912110 1075s 1075s ---- ___ _ ________ 8312 8512 9734 9734 71 76 ---- ---100 100 ___'_ 75 100 101 ---79 10012 10112 ---116 116 ---- ---- ___ _ ---- ---- __ ------ ___ _ ---- ---- ---- ---- ---10712 1107s 1051210734 105 10712 101 10714 100 103 9112 1021 2 90 931 2 9314 99 89 89 ____ _ ___ 82 82 79 79 ___ _ Memphis Div, lst----- -4 ½-5 11512116 1151211512 115 115 - --- ____ 1131211312 ____ _ ___ 101 101 St Louis Di vision, 1st- - - - - - -4 9312 9414 9312 9312 92 93 - - - - - - - - 89 91 89 89 857s 8712 80 86 84 85 78 78 75 75 7614 7614 Col & Greenv, lst------ ----- 6 ________ 111 111 ________________ ______ _____________________ _ ET Va & Ga, Div- __________ 5 11218 1131s __ __ _ ___ 1133s 1133s _ __ _ _ ___ 11212 11212 _ _ _ _ _ ___ 11os8 11os8 _ __ _ _ ______ _ Consolidated, 1st, gold----5 116 117121171211734 1165s 11112 1163,i 11112 115 1151g 113 11512 113 113 112121131 2 _____ ___ 112 112 102 1021 2 103 10518 E Tenn reorg lien-----------5 113 11312 114 114 1101211012 ________________ 1101211012 ________ , __________ _ Georgia Midland, lst- ------- 3 611 6914 ________________________________________ 6712 6712 ______ __ 65 65 ___ _ Georgia Pacific, 1st, gold----6 1175s 1175s ____ ___ _ 1173s 1191-1 1171s 117Is ____ ____________ 113141131 4 114 114 ______ _________ _ 104 105 ___ _ Knoxville & Ohio, 1st, gold--6 118 11814 1183-111834 116 1181s 116 117 1173411734 ___ _ ______________________ _________________ _ Rich & Danville, con, gold---611112112 1121g 113 11134 11214 112141121211212 1125g 112 1127s 1091410914 1091410914 ___________________ _ Debenture, stamped-------5 ____________________ ---- ---- ---- 103 103 ________________ 102141021 2 ________ 9912 991 2 ____ __ South Car & Georgia, l st---- 5 106 1061s __ ______ 106 106 ________________ 104 104 1041210412105 105 ________________ 95 95 95 96Virginia Midland, Gen, 1936-- 5 ________ 111 111 ________ 110 110 106121071s ____ _ ___ 103 103 ___ _ Stamped guaranteed ______ 5 ____ ____ ____ ____ 10912110 107 107 ___ _ Wash O & W, lst----------4 9434 961g __ __ _ ______________________ _ W No Car, 1st, cons---------61091210912 ____ _ ___ 10914109141081210812 ____ _ ___ 106121061 2 ___ _ Termfnal of St Louis-1st---4 ½ 108 10 12 ____ _ __________ ______ ___________ 111 111 ___ _ 1st, cons, 1944 _______ ______ 5 117 117 ____ _ ___ 1121211212 1111411114 1111211112 ___ _ General refunding, 1953 __ __ -4 9312 94 ____ ____ ____ _ ______________________ _____ 90 90 ____ _ ___ 86 86 Texas&. Pacific, 1st, gold -- ---511612118 117¾ 11814 114 11712114 117 11434 1157g 11112113 112 .113 1121211258 111 1121 2 11014112 105 108 1041210712 Toi &. Ohio Cent-1st, 1935- - - _5 ___ _ ____ ___ _ ___ _ ___ _ ____ 111 111 ____ _ ___ ___ _ _ ___ 108 108 10734 108 ____ _ ___ 108 108 100 100 95 95 General, gold, 1935 _________ 5 10212 1021 2 __ ______ 102121021 2 ________ 1001 2 102 __ __ _ ______________________________ _ 85 ___ _ Kan&. M, 1st, guar, gold--- -4 97 97 ____ ____________ 9034 91 9112 9112 ____ ____ ____ ____ ____ 8734 8734 80 Toledo Peoria & Western-1sL4 89 89 8712 8712 80 80 85 8614 _______ _________ 80 82 83 84 ______ __ 80 80 __ ___ ___ 80 80 Toledo St Louis & Western -- 3 ½ 87 8712 87 87 85 85 ____ 8612 8612 ____ _ ___ 8312 831 2 82 83 80 82 75 80 ___ _ Registered---------------3 ½ ______________________________ __ 85 85 ___ _ __ __ ___ _ ____ ____ _ ______________ _ 50=year, gold, 1925---------4 81 82 815s 82 81 815s 80 8012 7814 79 73 75 7312 7512 74 7612 7312 75 60 73 55 60 59 6712 Ulster & Delaware-1st, cons--5 ________________ 110 110 ________________________________________________ 102 102 102121021 2 __ _ _ Union Pacific-1947----------410133102 1003410134 993.1101 1005s1021~ 100 10214100121017g 99 100 9612100 9614 9912 9234 9912 93 99 98341011 2 Registered---------- ----- 41001210ll4l00l2lOll2 98 10014 99 lO0lg ____ ____ 981210114 ________ 97 97 9634 9634 ____ ---- 93 96 9912 9912 20=year,convertible,1927----4 _________________ _____ _____________ _______ ______ 8914 93 8712 9238 8412 881 2 7814 873g 79 843.1 831s 861 2 Registered - - - - - - - - - - - - - - - 4 ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ - _- - ______ - _ ____ - - - - ____ - - - - - - - - ____ ____ 9634 9634 Oregon RR & Nav, con------4 97'8 9912 9812 99 98 99 975g 99 98 99 9534 96 9534 971s 94 961 4 9334 95 9212 95 87 90 88 901 2 Oregon Short Line, 1st- - - - - -6 123 120 1201z1205R 12012 121 11734 11912 1191g 120 119 11912 120 126 11512 1161 2 11412 11534 113 1161g 107 114 112 11412 Oregon Short Line, 1st, cons-5 1123411314 1135 114 ___ ___ __ 111 1127s 111 112 llll2ll3 ________ 1071210838 107121071 2 10712108 100 10634 10614 108 Guar refunding, 1929- - - - - -4 9312 943..i 923-1 9412 88 923_1 90 9314 90 93 877s 89 88 89 85-34 8834 86 871 8 75 8712 78 82 8012 8514 Utah & Northern, lst-------7 _____ __ _ 103 10312 ____ ____ ____ ____ ____ ____ ___ _ _ ___ 100 100 ___ _ Gold, 1926-----------------5 ____ ___ _ ____ ____ ____ ____ ____ ____________ 1051210512 __ _____________________________________ _ Vandalia, cons, gold----------4 ____ ____ ____ ____ ____ ___ __ ______ ___ ______________ 9412 9412 _______________ _ Va & SW-1st, guar---------5 110 11112 110 110 106 106 ____ 110 110 ________________________________ 104 104 100 100 _______ _ Wabash-1st, gold, 1939- - - - - - i 113 114 11112114 110 112 1101211212 10712 10934 107 10812 107 10814 1067g 10814 105 10712 10312 1075s 995g 10112 10112 10512 2d mort, gold, 1939 _________ 5 105 10512 100 10234 99 101 101 10112 10114 10112 99 101as 1003s 101a8 96 98 95 96 94 95 90 90 897g 90 Debenture, income, 1939, A--6 ________ ___________ __ ______ ___ __________ 90 90 ___ _ Debenture, income, 1939, B--6 7514 7612 71 75 57 61 60 68 6914 6912 ________ 61 61 ____ ____________ 44 53 40 40 40 47 Certificates of deposit------ 701g 75 6712 7112 5712 64 5812 65 611g 6612 62 021 8 ________________________ - --1.st lien equipment- --- ------5 ________ 101 101 102 102 ____ __ _____________ __________ _____ ______ ________ - --_1st & refunding, 1956--- ----4 ______ __ 627s 6334 5-1 60 54 6614 Olis 0712 6014 6312 6012 6134 523g 591 2 5312 5 3712 57 36 43 43 5012 8:-a~: l51:1st::?194l=====aJ =~~- 1-~~ - 1i~ 1i~lg =~~- 1_0_~_ =~-~8 1_0_0__ === = ==== ==== == == =~:~21_0_~1~ =~~~21_0_~1~ _____ _______ 963s 9612 ______ _____ _ Toledo&. Chicago Division---4 __ __ ____ __ __ St Charles Bridge, lst- ------6 102 102 ___ _ Wabash-Pittsburgh Term-lst-4 79 80 77 791g 2d, gold, 1954--------------4 2914 3212 28 30 Wash Terminal, 1st, guar--3 ½ ____ ____ __ __ Western Maryland-lst-------4 81 8212 80 8112 Gen & conv, goJd, 1952------4 66 68 6134 65 West N V & Pa-1st, 1937- _ -- _5 1142411514 115 11512 General, 1943--------------4 9312 9312 ___ _ Incomes, 1943 _____________ 5 ____ -- -- 34 34 Wheeling & Lake Erie-lst----5 ____ -- -- ____ 1st con, 1949---------------4 8712 8712 ---20~year, equip, sinkingfund--5 ____ ___ _ ____ Wisconsin Central Co-1st- __ -41 8612 89 87 8812 _ _ __ 100 70 20 100 1100 7634 6912 75, 73 2758 2412 2012 23 _______ _ ---- 75 81 55 627s 11112 11112 _ ___ ____ 74 76 55 58 11412 115 90 90 100 757s 691 2 71 2434 20 24 87 86 6812 70 60 70 651g 221 2 241 4 19 221 2 20 8734 ---7312 7412 097g 75 70 54 55 50 55 50 1121g 11214 1121211314 111 ___________ _ ---- ---- --- 1051210512 105 105 ---_ ___ 78 78 76 ____________ 87 74~8 765s 54 57 11412 11412 U0 9012 ____ 108 108 86 =~~- ____ --- - 83 83 8714 84 88 104 =~~- 1_0_~_ ==== _____ __ _ _____ ______ _ 7312 75 ________ 1145R 115 893-1 9034 _ ___ _ ___ ____ 85 86 84 85-3-1 82 8434 82 69 60 221 2 15 717s 65 55 49 112 112 6812 58 21 15 69 55 112 6012 53 59 1658 151 2 1912 597g 6412 61 ________ 46 ___ _ 65 4712 77 76 76 ---- -- -- 71 71 ___________ _ 8212 737s 823s 7212 77 74 801~ ____ 104 104 STREET RAILWAY .B'klyn Rapid Transit-1945- __5 105 10614 10612 107 1st, conv, 2002 -------------4 8912 923g 8714 8912 B'klyn City, 1st, cons----- - -5 1023-1 10234 103141031,1 BQC&S,con,guar ________ 5 ____ __ ____ ______ B'klyn Union Elev, 1st- __ -4-5 10612108 104 105 Stamped, guaranteed - ---4~5 1---- ________ ---Kings County Elev, lsL -----4 89 9 87 87 101 103 100 10114 100 101 100 100 99 9912 801g 85 8014 82 79 8012 7334 7912 76 7 12 ____ ____ 1021210212100121001 2 100121001 2 10012101 ____ ________ 912100 9812 9812 10012 104 101 105 102 104 9812 1013-1 99 100 ________ ---- --- - ________ 102 102 102 10334 98 9812 98 98 ____________ - --- ________________ ---- ____________ ---- ____ Stamped, guaranteed --- ---4 8812 8812 88 88 843-1 8612 8434 8712 8414 8:412 8334 8334 8334 84 8014 82 80 8012 Nassau Electric, guar----- - -4 8312 85 82 8212 81 8212 82 86 827s 821s 79 8112 82 82 82 82 80 80 Conn RY & Lt-1st-------- - 4 ½ ---- --- - ____ --- - 981210212 ________ ---___ _ Stamped, · guaranteed-----4½ ____ --- - ------- ---- ____ 9834 9834 ---- --- - --- - ---- 9734 9731 Detroit United-lst----- -- -4 ½ ____ ____ ____ _ ___________ 8612 8612 ---- ---- 85 85 ---- ____ Havana Electric-1952--------5 91 93 ---- ---- ____ 8012 83 ---- ---- ---- ---- ---- ____ Interboro-Metropolitan, coll-4 ½ 7934 82 795s 8114 74 80 755s 8012 7334 7912 7212 75 7312 77 53 7414 6212 68 Jnternat'I Traction, coll trust--4 ____________ ---- ________ 71 73 ________ 67 6912 69 6914 ____ .Metropolitan Street R_y, gen---5 108 10834 l06l2106°R 105 106 1021g10412 10314104 100 100 100 101 ___ _ Refunding, 2002 ___________ -4 84 85 ________ 82 84 80 80 0 014 75 75 75 7612 ___________ _ B'way&7thAve,1943 ------ 511012113 110341117sl08 108 108 110 110 1101210412105 10614107121041210412100 100 Col & 9th Ave, lst--------- - 5 1131g 1131s 1131s 1131s ____ ____ ____ ____ ____ _ ___ 109 109 10112109 105 105 Lex Ave & Pav p ___________ 5 __ __ ____ ____ ____ 115 115 110 110 ________ ---- ____ 1071210712 ___ _ 3d Ave, 1st, guar, 2000---- - -4 881g 89 88 8912 86 88 8512 8612 85 86 85 8512 81 8212 6412 80 64 70 Registered _________ ____ -4 8734 89 - - - --- - - -- - -- -- ---- - -- - -- -- -- -- ---- ---- - -----1st, 1937 ________________ 5 1123411414 113 11412 11212113 111 11114 111 Ill 1101211112 10834110 ____ _ ___ Portland RY, 1st and ref- ____ 5 ------- 1011210112 ---- ---- - --- ---- ---Underground Electric Rys. of London profit-sharing ______ 5 90 94 8812 8934 75 85 76 781 2 77 77 7014 7212 70 70 ____ ---- 6414 6414 Union Elevated (Chicago), 1sL5100 100 ---United Rys, St Louis---------4 ---- ---- 85 85 83 85 82 82 81 81 8012 81 7912 8012 --- ---U~ted RRs. San Francisco----4 8214 8314 81 82 781g 781g 76 76 7434 75 67 70 70 73 72 72 72 72 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1061:?10612 100 1011.i 7934 714 2 612 ________ 1021410312 10l1210ll2100 100 100 10234 102 100 92 96 85 85 8512 62 7714 56 665s 61 997s 1011s ------ _____ _ 957g 9518---98 99 85 9312 92 ---- ---- ------- ---- ---7934 80 77 7934 7612 -- -- ____ 70 74 75 ---- ---- ---- ---- --- 97 14 9734 ---- -- -- ------- ---- ---7912 ---- ---- ---81 493g 6212 4712 5512 5434 ---- 62 100 103 10012---- ---103 ---- 48 55 105 6312 40 49 55 - - - 105 98 100 91 71 96 79 7512 ___ _ ___ _ 7912 81 6112 6212 96 96 44 5011 ---- ___ _ 79 79 ------- ---- 60 60 60 ---601a RAILROAD AND MISCELLANEOUS BONDS. 101 1907'-<Joncln ded. February January AU/lust July June May Aprtl March September October November December Low High Low High Low High Low High Low High Low High Low High Low High Low High Low High Low High Low High BONDS. - - - - - -- -- - - - --,---- - - - - ---- GAS AND ELECTR.IC. Brooklyn Union Cias-lst----- 5 1061s 1065s 106121071g 106 107 10612107 1041210512 102:34103 1011s 1011 2 101 101s8 101 1021 2 90 Buffalo Gas-lst-- ----------- 5 63 14 66 66 7312 63 70 65 66 67 68 -- -- ____ 67 67 63 66 66 66 60 Consolidated Gas (New York} Conv deb 1909- ----- --- ---- 6 135 138 133 13934 116 13934 123 13414 117 13712 120 1251s 11s1 2 1231 2 107 120 10514 112 94 Detroit City Gas, 1923 ________ 5 ---- ---- ---- ---- 100 100 100 100 100 100 100 100 9712 971 2 975s 9758 971 8 971 2 97 Detroit Gas, 1918- ----------- 5 ---- ---- ---- ---- ---- ---- 100 100 ---Equitable Gas (N Y), 1932 ____ 5 ---- ---- 105 105 ---- ____ ---General Electric-Deb, gold -3 ½ - --- ____ 8614 8614 ________ 80 87 ___ _ 95 - - - - 1085g 11014 10212 109 1061g 109 10-year, deb, gold, 1917 _____ 5 ---- ---- ---- ---- ---- ---- ---Hudson County Gas-lst ,1949- 5 ---- ____ ---- ____ 103 103 103 104 ------- 102 102 ---- ---- ---- ---- ---Kings County Elec Lt &. Pow. Purchase moneY-- ---------- 6 ---- ____ 117 117 ---- ____ 116 11612 115 11612 ---- ____ ____ ____ ____ ____ ____ ____ ____ 10134 99 Laclede Gas-1st, gold - _______ 5 104121051s 1021210234 102 10234 10212103 1011210212 10012102 102 103 1015s 102 10014 R.efund and ext. 1934 _______ 51021210212 102 102 ___________________________________________________ _ Milwaukee Gas-Light- lst--- -4 9112 9112 ---- ---- ---- ---- ---- ---- --- - ---- ---- _______________________ _ NY Elec Lt Heat&. Power ____ 510212103121021410312 991410112 991210312 102 10314 9812100 ________________ 95 95 85 Purchase money col tr. gold--4 8312 847g 8212 8314 80 ---- 99 Edison Etec Ill, 1st, 1910----5 ---N Y &. Queens Elec &. Power-- Con, gold, 1930 ____________ 5 People's Gas Light &. Cokelst, con, gold, 1943-- ------- 6 Refunding. 1947 ____________ 5 Chic Gas- Lt &. Coke, l st---- 5 Consolidated Gas, 1st, 1936-- 5 Mutual Fuel Gas , 1st, guar- - 5 Union Elec Light&. Pow- lst-- 5 Westchester Light __ _________ 5 8234 81 9912 100 84 100 ---- ---- ---- ---- ---- ____ 95 99 8214 80 8312 80 80 1001210012 1001g 101 100 ____ 90 90 -- -,------________ 104 104 98 ---- ---- 9 ___ _ ---10212103 102 10212 102 102 997s 10012 97 10034 95 100 ---- ____________ 104 104 MANUFACTUR.I NG AND INDUSTR.IAL. American Co tton Oil, 1915--- 4 ½ 91 American Hide&. Leather--lst - 6 89 Dis tillers' Secur Corp-1st- ___ 5 lngersoll-R.and-lst---------- 5 International Paper--lst- ____ - 6 -.eons, conv, 1935 ___________ 5 International Steam Pump, '13-6 Lackawanna Steel , 1st, 1923 __ 5 National Starch Mfg-lsL---- 6 N Starch Co-Sink fund deb- -- 5 Republic Iron &. SteeL _______ 5 United States Envelope, lsL--6 US Leather--Deb, sink fund-- 6 U S R.ealty &. lmprovemenL--5 US Steel Corporation-1963---5 R.egistered- ---------------- 5 Virginia-Carolina ChemicaL ___ 5 Westinghouse El&. Mfg, conv--5 MISCELLANEOUS, Adams Express-Coll-- ____ __ -4 Chicago Junction &. U S y ____ 5 lnternat Mercantile Marine - -4½ International Navigation, lst-- 5 New York Dock-50-year____ -4 Providence Securities--- _____ -4 Union Ferry ______ ___________ 5 U SR.eduction&. Refining ____ 5 70 921 2 55 10834 95 105 10314 108 97 _ __ _ _ _ _ _ 9412 941 2 ---- 92 10834 98 102 ---- ---- 104 10134 99 _ ___ 107 96 100 77 95 791 2 65 g51 4 81 70 70 92 10714 107 98 90 7112 1161s 1161s ___ _ ---- ____________ 100 100 102 102 100 100 ___ _ ---- _______ _ 100 100 ___ _ ___ _ 861g 861s ---- --- - 781g 781g --- - 89 1001g 10112 991210214 100 100 9612 91 95 99 97 96 104 104 ---- ---- ---- 98 91 96 ---- 100 ---- 89 - -- - 98 91 ___ _ ---- 1041410414 1051210512 9112 90 90 9 92 __ - _ _ __ _ 90 100 ---- - -- - 72 98 72 --- - ---- 9812 98 92 94 97 98 9212 89 97 92 5 86 87 86 8614 84 9112 88 8234 8412 853g 80 871 2 8412 87 88 __ ______ 87 8712 86 85 89 9114 88 91 75 72 75 68 89 78 86 85 89 8812 891 2 88 89 8812 87 88 88 87 82 ____ _______ _ 847g 85 ---- ____ 79 84 83 96 ___ _ 96 97 9912 ---- ____ 10234 10312 100 10234 96 99 98 100 82 861 2 82 8812 8914 ___ _ ____ 86 1s 8678 867g 8678 85 91 91 92 92 963,1 92 93 86 99 85 10414 1067s 105 10714 105 106 101 1061 2 9534 10334 100 102 9434 96 96 1011 2 ________ 8512 851 2 8 12 91 105-3410534 ---- ____ 1051s 10534 105 105 601s 5112 62 54 6812 6314 6612 5412 64 63 6934 73 7134 73 727s 745s 7112 74 63 ___________ _ 63 65 ________________________________________ 65 86 821 4 82 78 87 80 8812 91 8 14 91 9214 95 967s 9212 94 9714 91 93 60 5334 6334 5414 591 2 60 631 2 66 6312 65 7212 737s 7112 7312 7134 7212 721 4 73 57 _ ___________ 57 ---- ____ ---- ____ ---- -- -- ____ _________________________________ __ _____________________________________ 7812 7812 77 77 ___ _ 6712 60 65 61 74 60 79 811 2 76 8438 70 81 O 8412 813g 82 8212 85 89 84 8634 90 8614 89 _____ __ _____ --- - _______________ _ ________ 95 95 ________________ 95 95 95 95 ____ 1017s 10514 10512 10534 1043g 106 100 1037s 100 10012 107 10812 1061g 107 104 10512 10312 106 105 10514 105 105 80 8212 76 0 8712 ---- ---87 8 88 8 88 8712 88 90 88 8812 90 9014 9012 8912 90 92 90 9612 971 2 ________________________ 93 9934 9934 97 997s 100 100 100 100 100 9712100 100 100 100 101 8412 80 8934 83 8912 90 95 94 947s 98 977s 98 99 97 983-1100 993410014 9634 9934 947s 100 10014102 8312 8312 ---83 83 84 84 83 ____ 83 8212 ---82 ________________________ 70 70 ___________________ ____ _________ ---80 95 ________ 80 90 92 92 92 96 ________ 9612 9612 _____ ___ 92 96 95 95 96 96 97 97 ___ __ ___________ 103 103 ___________________________ ____ _________ ---98 10014 100 ____ 10234104 10314104 10412105 104 104 1031410314 ___ _ 105 10512 106 10614 104 106 62 70 7712 68 76 80 O 77 78 80 7812 8112 77 86 861s 88-1s 77 9312 8712 92 92 95 93 8614 95 7812 612 8234 9534 9534 971 2 9012 971 4 9212 96 9312 985s 9512 9934 9514 9714 95 983g 99 9712 99 83 7812 86 9738 9214 951 4 8412 95 9612 9912 9.5ts 971 4 945s 957s 951 8 9734 90 975s 991s 983g 9914 941 2 99 9712 9712 ---- _______ _ 99 97 99 85 99 97 97 97 9812 9812 97 9814 98-34 9812 99 6512 66 60 88 871s 881 4 50 8712 92 9114 92 94 93 9312 9412 9314 94 9512 9712 9612 9712 9314 97 9214 8934 89 88 10134102 9034 90 1087g 11012 ____ ---7912 76 7614 7714 975s 99 7612 79 ____ __ __ American Ice Securities, deb --- 6 American Spirits Mfg,- l st ---6 American Thread-1st coll ___ -4 American Tobacco, 1944 _____ _6 R.egistered-----------------6 Gold, 1951-----------------4 R.egistered _____________ -4 Central Leather, 20-yr, gold --- 5 Consolidated Tobacco, 50-year -4 R_egistered- ----------------4 Corn Products R.efining, 1931-- 5 80 90 55 ---- ---- ---- ---- ___________________ _ ________ ---- ____ ---- ____ 10312 10312101 101 1003s1003s ---- ---- --- - ---- 100 100 103 105121001210012 102 102 ---- _________ ___ 1001210012 1011410112 ____ 100 100 ____ ____ ____ ____ ____ _ ___ 101 101 102 102 ____ ____ ____ 102 102 1011210112 ___ _ 119 11912 119 119 102 102 102 103 TELEGR.APH. Amer Telephone &. Telegraph-4 Commercial Cable- -- _____ ____ 4 R.egistered- - - - - -- _________ - 4 Keystone Telephone, lst------ 5 ~\etropolitan Tel &. Tel, l st--- 5 Michigan State Telephone _____ 5 Western Union Tel-1938- ___ _5 Fund &. R. E, 1950- ______ -4 ½ Mutual Union Tel, sink fund - 6 s21 2 7912 791 2 77 10014 10018 10018 ___ _ 1011 8 871 2 90 62 ________ 9214 91 9012 9114 88 887s ________ ________ 109 11034 1085s 11012 7612 74 7514 7514 98 987g 75 7614 ---- ____ 10234 10212103 102 93 90 89 86 8812 87 9834 98 9212 93 10514 10912 1075s 1075g 7112 7434 7214 72 9412 9812 7212 74 ---- ____ 99 14 99 98-34 10012 99 ________________ 101 101 ____ 70 ________ ------- ---- ---92 92 93 93 92 93 93 9434 ___ _ 96 95 95 COAL AND IR.ON. Buffalo &. Susq Jron-lst----- 5 ____ ____ Colorado Fuel&. Iron-Gen, s f-5 9912 lOOls Conv debentures, 1911------5 ____ ____ Colorado Jndustriallst, coll tr, 1934 ____________ 5 7314 7614 Sunday Creek Co--------- ---- 5 78 7812 Tenn Coal Iron & R_y-Gen----5 9414 9514 Tennessee Division--- --- ---61061 2 10612 9 9934 101 7033 87 90 883s --- - - -- - ---- -- - 9314 97 99 68 85 90 - .,.-- -- 9312 95 ____ ________ 91 87 87 88 91 6312 58 6712 713s 5934 6934 6212 65 78 __________________ __ ---78 95 ___ _____ 93 95 94 95 94 ___________________ ___ __ 103 104 95 - 96 92 90 105 90 951g 8812 9012 - - - - - ----- - 6212 62 6912 65 - -- 88 8834 8712 88 85 85 85 85 - -- 90 90 - --- 991 2 96 9914 93 6812 69 8512 85 89 90 8412 70 8512 90 90 9312 89 92 90 90 ____ t~B1~!e~!i:!nD!~i~·I~~~===i ~~~- 1-~~1~ ~~~- 1_0_6_1~ ~~~~2106 931? 9312 ____ Victor Fuel. lsL - ----------- - 5 ____ Virginia Iron Coal&. Coke-1sL5 95 7014 6714 85 90 93 8734 93 933s 95 ___ _ 95 95 ___ _ -- - - 101 90 5612 60 ---- ____ 917s 92 103 103 98 85 98 85 4812 5812 5912 65 ---- ---- ---- -- -8912 86 895s 91 ________________ ~~~~s ~~~- ~~~- 1_0_~_ ==== ==== 1_o_s_1~ _ __________________ _ 9212 93 9212 93 9212 93 92 85 54 - --85 1_0_2__ 1 ~~~- 8712 8712 85 82 9014 78 85 78 6112 53 57 605g 63 871!) 89 8412 85 85 85 5512 40 50 ---87 89 89 ---- ---- 101 ==== ==== ~~~9034 93 85 85 - --- 8412 88 - -- - 85 87 - ------ - --85 ____ 9314 9314 80 ---- ____ 80 75 75 5112 35 42 4112 4612 89 102 80 98 81 98 85 84 9734100 102 99 1_~0_1~ 1gg 1g~ 8712 7 12 7 12 80 80 J!-,U~. January BONDS F cbruriry .~farch ,lfay April Jun. July Aw.u s; Sep:ember 0 .1.ober Novemb ~r D .:;ember Low Htgh Low High Low H gh Low Htgh Low Hiah Low Hi(Jh Low H gh Low HLJh Low Ht,gh Low Htg.'t Low H _gh Low High - - - - - - - -- - - - -,----- - - - - - - - - - - - - ----- - - - - - - - - - - - - -----1-- - - -1- - - - - - - Ann Arbor-1st 1995 gold--4 Atch Topeka & Santa FeGeneral gold 1995 _______ -4 Regi stered ___________ -4 Adjustment gold 1995 ___ -4 Stamped ____________ -4 50- year conv gold 1955---4 10- year conv gold 1917 ___ 5 Deben series H 1910 ___ __ -4 lst-4 Eastern Oklahoma San Fe Pres&. Phen 1st-- _5 Chicago&. St Louis 1st ---6 Short Line (JP M rec) lst-4 Atlan Coast L-lst 1952 g_-4 Lou &. Nash coll 1952 g .. -4 Sav Fla&. West 1st '34 g __ 6 S SOcala &. Gulf gu 1918 g -4 B &. O-Prior lien g 1925 __ 3 ½ Registered ----------3 ½ Gold 1948 _____________ -4 Registered ___________ -4 Pitts June&. M Div ____ 3 ½ Pitts LE &. W Va System-4 Div https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 80 80 957g 10112 9512100 8814 83 8212 89 8612 8912 9412 9834 ____ ____ --- ------- ____ ---------- 8712 90 ____ ____ ________ ---- --- 901s 9312 8912 8912 9612102 ____ ---87 9212 79 8112 7812 7812 78 8012 so1 2 8012 801 2 79 78 8014 ~O 8012 80 85 82 84 84 851~ l-!5 86 1001 4 10134 9834 100 911 4 93 913.1 94 1011 4 104 105 107 ____ ___ _ 9 '12 !1812 9714 98 98 98 97 !1614 973s 97 97 96 ____ ____________________________ 1091 2 10912 --- - ---- ---- ---- ---_______________________ _ 109 109 ____________ ____________________________ ·· ·-- ___________ _ 9li3s 973s !J612 97 9518 951 2 951 4 9'l ____ ____ ____ ____ ---- ---- ---- ____ ---955s 9612 9412 96 951 4 941s !JS 93 96 9334 94 91 9014 93 93 8!.J3.1 8434 8034 8412 8714 88 80 8534 8712 853s 87 8634 8878 8612 88 8414 88 8012 8212 8112 83 83 7612 79 75 75 74 76 75 _______ _ ___________________________ ________ 1111211112 ________________ 12358 124 __ ___________ --- - ---- ---- ---- ________________________________ 9312 9312 _______________________________ _ 9234 9312 931 2 941 4 943s 943~ 941 2 9534 9212 93 911 2 93 94 9012 9312 92 9014 92 91 9214 90 90 90 _________________________________________________ . _____ _ .. _____ _ ___ _ ____________ 90 9914 1001s 10014 10134 !1834 99fi1, 9914 10oaJ 100 10114 981s 9834 983s 100 9714 9814 9734 99 981410112 9812100 98 98 ____ ____ ____ ____ ---- 9512 9612 _____ ___ 95 95 ________ 951 4 051 4 ____ 891 4 8914 !JO 90 6 86 8312 ss ---- ________ 83 83 Y6t 4 97 97 !J4 951 8 96 9:i . 93 9012 8812 901s 901 2 90:;b 9134 92 89 90 9112 SJ 90 977s 10014 ____ ____ 88 86 8614 8712 8534 8812 9812 96 97 ____ 85-34 86 86 96 9612 9912 9034 9712 96 96 871? 865g 86 865s 8614 873 8!J3 7 8812 4 975s !J73sl01 9612 ____ ____ ____ 96 96 4 9714 991 8 ________ 8 1? 86 851 4 87 8!l1 2 9334 101 103 ____ ____ !J514 97 973s 9g1 ~ 9634 97861 4 89 861 2 87 8934 915~ 991 2 1001 2 ____ 9734 991s 9~ 98 91 88 861 2 8812 901!! !JS 991210258 987s 1005s 1005s 10112 99 lOO~s 99 99 993.1 99 100 98 951 8 921s 911!! 911 2 94 88 921~ 021 8 93 90 8738 90 9734 951 2 100:i4 9734 95 95 10214104141011 2 10414 103 10531, 100 101 Y9 100 91 ip. 91 92 \Jl 10012105 1051 8 108 _ ___ 9812 !JS 102 RAILROAD BONDS. 1908- C:ont inne d. January February March AprU May June Ju..y August September OcLo'ver Noi;ember Dec,,-mbcr Low Htgh Low Htgh Low Htgh Low Htgh Low Htgh Low Ht(Jh Low Htgh Low Htgh Low High Low High Low Htgh Low Ht,gh BONDS ------------l-----------------------------------------------1----B & 0-(Conc, .) South western Div 1st lit-3 ½ 8334 89 851 2 8934 86 8738 8658 88 371 2 8934 891g 8934 8712 8912 8834 8912 8912 9:?12 911!! 913.i Ohio Riv1st 1936 gold - --- 5 ---____________ 110 110 no no ________________ 10s14111 ---- ---General gold 1937 ______ 5 ____ ____________ 10034 10034 ________________ ---- ____ 109 109 Pitts & West 1st 1917 g _-4 ____ ____ ____ ____ ____ ____ __ __ ____ ____ ____ Buff Roch & Pitts-Gen •37 _5 ____ ____ 108 108 11012 no1 2 ________________ n312 n312 ------Consol 1957 ------ ·-----4½ ____ ____ 1011 2 1011~ ____ ____ ____ ____ ____ ____ ____ ---, Clear & 1'1 ahon 1st gu '43 g.5 ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ 103 103 ---Roch & Pitts 1st 1922 - ---6 n4 114 ________________ n51 4 1151 4 ________ 118 118 ____ _ ___ ll91211912 ---Cons 1922 _____________ & ________ 117 117 117 117 ____ ____ ____ Buff & Susque-lst ref- ___ 4 ________ 91 91 ________________________________________ 8712 8712 ---- ____ 8 89 Canada Southern- 1st g u --5 ,10458 10458 ________________________________________ ---- ____ ---- ---- ---- ____ ---- ---JP Mori.tan & Co certificate!. 1021410514 10414106 105 106 1057310712 ________________ - --- ---- ---- ---- ---- ---- ---- ---1s t extended 1913 ________ 6 ___________ _ ____________ 1011 8 107a4 10738 1031 8 10833111 1011g 1071~ 1067g 10112 1063~ 1011~ 10718108 2 d 1913 _____________ ___ 5 9814101 10013101 9812 99 9314 9934 100121011 2 1021410312 103 1031210412105 1011210212 1011410212 ti~1g!~w~~~~::_j 5 915s 9214 9Fg 931,i ---- ---- ---- ------- ---- ---101 101 llO 116 ----- - - ---·· 106 106 - - -- ---- ------- ---- ---_ ___ 1201s 12l~s ---- ____ --- ·· ___ _ ---- - - -- ---- ___ _ ---- ---- ---- ---10758 10853 1081210914 1013.i 102121021210314 i6~;; 1 Ceii~!~t -9114 1-02-1~ -99- 100-- -99- 1_0_2__ 10212 1-oi- i6~18 i6;1 8 104141051~ 1043.i 107-3; 106- 10_9_3; i6: i6ta.1jios 1-211-os; 10s- 1-oi- i6~!1 1 s t preference income-- -- 5 65 70 62 62 55 62t 65 691 70 71 71 71 73 64 12 75 55 65 64 64 65 78 78 81 73 Stamped _________ ___ __________________________2 65 65 2 70 711 2 ________ 73 73 ____ ---- ---- ---- ________________ 78 78 2d !:;!~e~~;%~~~n:~~===5 ==== ==== ==== ==== -45- -46- -45- _4_8_ -46- -50-- -45- -46-t~ -47is -5i- -4473 _5_4__ ==== ==== 1-45- -4-51~ -491-2 -64-- ~I12 Sta m ped _ __ ______ __ ___ 44 45 ________ Trust C o c er t ifi c ates___ ____ Stampe d ___________ _ __ ---3d preference income _ _ __ _ 5 211 2 373-1 27 28 Stam ped _____ ____ _____ 33 33 27 30 Trust Co certs stamped __ Chattanoo~a Div 1951----4 Macon & Nor Di v 1st __ __ _5 Central RR & Banking Ga- _5 Central of New JerseyCieneral 1987 gold- ----- - -5 Rei;ristered ________ ____5 Amer Dock & lmpt_ __ __ _5 Lehigh & W- B Coal 1912-- 5 Cons ext 1910 gu- - - --4 ½ Chesapeake & OhioSeries A 1908 gold - - - - - --6 Mortgage 1911 gold ______ 6 1st con sol 1939 gold- -- ___5 General 1992 gold ___ __ -4 ½ Big Sandy 1st 1944 _____ -4 R & A Div 1st cons 1989 g-4 2d cons 1989 g ____ ____ -4 Greenbrier 1st gu 1940 ___4 Chicago & Alton-Ref '49 g _3 Chic & Alt RY 1st '50 g_3 ½ Chic Burlington & QuincyGeneral 1958--- ----- -----4 Denver Division 1922 ___ -4 Illinois Di vision 1949 __3 ½ Registered ------- ---3 ½ Illinois Division 1949 ___ Registered _________ __ -4 _4 Iowa Division 1919 s f_ __ 5 Iowa Division 1919 s f ___ 4 Nebraska Ext 1927 ______ 4 Registered __ _________ -4 Debenture 1913 _________ _5 Hannibal & St Jos cons-- - 6 ____ ________ ________ 100 100 117 123 441 2 451 2 48 481 2 45 50 4912 50 5212 53 ________________ 49:14 6012 63 ---- ---- 52 53 ____ ____ 48 G3 63 ---- ---- 52 52 GO 60 63 27 36 33 391~ 37 40 38 41 3912 40 39 39 38 45 4012 57 52 3112 36 38 3912 36 401 2 ________ 3833 3833 3912 3912 ____ 41 41 5214 ____ ____ ____ ____ ____ ---- ____ ---- ---·· ---- ____ ____ 4012 45 895 895s ____ ____ ____ ____ ____ ____ ____ ____ _ ___ _ ______________ _ 1001 8 1001 ________________________ 1047310473 ___________________________________________ _ 2 2 92 02 95 100 ____ 9834 9834 100 100 99 101 10053104 10612 10612 10514 10614 1031 2 1031 2 106 1211 1221 1221 2 124 122 124 124 12458 ____ ____ 1201 82 1201 82 121131211 2 122 122 ________ ____ ____ 107 10814 ________________________ 98 98 ________________ 98 98 ________ 9912 9912 9834 9834 9812 9812 9914100 9!)1 2 100 101 102 102 1021 ________ 103 103 2 10712 11134 10812 112 96 10153 99121011 4 103 103 1051310513 10812 110 97 9812 1001 2 100n8 102 1021 8 l1Ql4 11414 97 99 ____ ____ ____ ____ ____ ____ ____ 9112 9612 9412 9512 9334 9412 94 92 ________ 89 ____ ---- 92 __ __ 75 76 6214 64 70 60 78 63 673-1 70 60 6114 70 62 ________ _ ___ ---3634 3634 124 12453 121 121 109 109 ---9834 99 12112123 122 123 123ts 12438 125 12612 1201212034 121 12114 ________________ 1071210112 ________ 1093410934 no1:i uo12 ____ 101 101 100 100 100 100 100 10014 10038 10058 12612 1273.i 124141241 4 111 111 ________ 10053101 ~~ 63 63 63 53 5214 1011 2 12914 13014 _______ _ 1001210012 100 10013 10034 101 102s8 104 11113 ll2 99 10134 101 101 _______________________________________________ _ ________________________ 105 105 ________________ 1031210312 112 11214 112 11334 ll334 1151g 115 116 ll5 11612 ll41:i 115 ll5 11553 10014 10134 10012 10218 10112 10218 10012 1021-1 10114 1031 2 10234 105 10434 10734 _________ ___________ 891 4 391 2 8958 90 90 921 4 911 2 921-1 90 9214 95 95 971 4 981:i 99 96 96 97 99 ____ 99 100 100 101 1001410012 91 9212 9212 ---- ____ 9312 9312 ________ ____________ ____________ ---- ___ _ ____ ____ ____ ____ ____ ____ 95 95 _______________________ _ 70 74 74 7214 74 75 771 4 77 7734 7612 771 2 78 78 7814 793s 63t 2 62 68 66 68 641 4 571 2 67 68 6812 7212 71 7612 76 775s 7612 7712 ____ ____ ____ 97 9734 10012 97 97 9753 98 98 9878 9i.Jt 2 100 9012 8814 901 8 88 8834 88 3914 881 2 90 ________________________________________ 97 98 9758 9834 981210078 9858 9934 98 10 1 1001810 15s 1013s10314 100 10014 100 1001 2 991 2 9912 99 991 4 9934 100 10013 10012 101 101 8812 891 2 875s 881 4 88 9038 9014 9112 91 921 2 9258 93 93 9334 8634 8634 ______________________ . . ________________ 9134 9134 97ts 1015s 993s 10112 9812 9912 99141001 4 10018 10114 101 10134 9958 1001 2 1001-1102 10112 10212 10134 103 102341031210312105 ______________ _______________________________ ___________________________________ 101131011s _______ _ 106 106 ________________________________________ 1051 1051 ________________ 104341043. ___ _ ___________ _ 2 2 1 96 9834 9814 991 2 ________ 98 98 ________ 98 9812 100121001 2 ________ 101 101 9973100 10014 1001-1 ____ __ _ _ 99 9973 10013 10018 9912 10014 10014 10134 100 10134 99 99 931 8 99 101 10112 1011410112 102 10212 1005g 10056 10034 10112 _______________ _ ________________ 101121011 2 ---- ---- ____ _ _______ --·- 1015g1015s ________ ---9 714 101 100 1011 101 101121021 1031 101 10134 10113 102 ________________ 1021210212 ________ 1013410134 ___ _ ____ ____ 10558 105548 ________ 104782 104782 ________________________________________ 1041 1045 ________ 105 10512 4 8 7 8 4 83 === = ==== ==== ==== ==== ==== ==== ==== ==== ==== ==== ==== ==== ==== 122- 1_2_i_ ==== ==== _ _ __ -~~- -~ __ -~~- _ _~_ 10612 11112 11012112 10912 Ill 110 1121 2 no 112 11112 n212 111 1121 2 113 11338 113 1131 8 115 1151 8 114 114 1153s 11534 1093410934 ________________________________________ 107 107 ___________________________________ _ 11112 11112 ________ 11714 118 12014 12014 12234125 ---- ____ 124 12514 126141261:i 12912130 129 130 130121aosb ---________________________________________ ---- ____ 106 106 ________ 106 108 _______________ _ 100 10012101121011 2 10034 10112 ________________ ---- ____ 1017310238 10234 10234 ________________ 1043810438 ---98 86 -~~~ C\i;/~o~~~i ~i;:f~n~-=== === i General con s 1st 1937 __ __ 5 Chic & Ind Coal Ry lsL ___5 Chic Ind & Lou-Ref '47 g __ s Refunding 1947 g ________ 5 Lou N, A & Chic 1st 1910- -6 Chic Milwaukee & St PaulTerminal 1914 gold ___ ___ 5 ________________ 1031 2 1031 2 ________ 10518 106 ________ 10314 10314 ________ 104i 4 1041 4 ________________ 106731067s Oen series A 1989 gold __ _ -4 100 102 102 103 103 103 103 103 102 103 102 10212 101 10114 10114 1c2 102 1031? 10'.!3.1 103-1.i 104 10414 104 10414 Rei;ristered _______ ___ __ 4 ________________________________________________________________________ 1031 2 1031 2 _______________ _ Oen series B 1989 g ____ 3 ½ 8 7 9034 89 89 87 88 8514 88 8812 8914 8914 8934 8712 8712 887 90 893 9112 91 9lns 92 95 92 92 Chic & Mo Ri ver Di v ____ _5 ________________________ no 111 1113411134 ---- ____________ no:J88 11114 112 4 112 ________ ______________ _ Chic & Pacific Di V-- ---- - 6 ________ 104 104 ________ 10434104341041210412 _______________________ _ ________________ 1041410414 1041410412 Chic & Pac We st Di V-- - -- 5 10833 llO 10812 110 10812 109 109 10934 1095311012 11034 1 1112 10878 1091 4 110 11012 11012 11012 11012 lllls lll 11112 11134112 Dakota & Gt S o u thern ___ 5 1061210012 1041410414 ________ 10453104511 ________ ---- ---- __ ______ 105 1051-1 106 106 . _______________ 108 108 H & D Di v 1st 1910 ___ ___71021 2 1021~ ________________________________________ 10434 1043-1 104a8 1043s ________ 1051210512 1053s 10534 105341057g 1 st 1910 _________ _____ 5 ________________________ 1013s 10134 ________ ---- ______ _____________________________________________ _ La Crosse & Da v 1st 1919 _5 ________ 1063.i 10634 ________ 1071210712 108ts 108ts ---- ---- __ ______________________________ 1091210912 _______ _ Mineral Point Di v _ _ _ _ _ _ _ _ 5 1001210034 1003s 1003s ________________________ ---- ----100,8 100, 3 ___ _____________ 1021210218 _______________ _ So Minn Div 1st 1910 ____ _6 10014102 1021g 103 103 1031g 1041s 10413 _ _ _ _ _ ___ 1045s 1045s 103 103 10173 103 1021 8 1027s 1033.i 10373 1037s 10411, 10433 10433 South west Di v 1 st 1909 ___ 6 101 101 ____________ ----1031410312103131031 8 -·-- ____________ _ _ _ _____ 1021!!1021 11 102,8 10218 1031 8 10318 1031410312 Wisc & Minn Div ______ __5 108 108 10813108131081210812 1081410814 ____________ ---- 109 10912 1091 4 109141091 2 10912 ________ 111 111 Mil & No 1s t m 1 1910 - -- -6 ____ ____ ____ ____ 1051g 1051s ________ ---- ---- ____ ____ ____ _ ___________ 1051410514 _______ _ 1st consol 1913 ________ 6 1081410812 ________________________________ ---- ---- ____ _ ___ 109 109 1101311013 ________ 101121075tt Chic & Nortb west-1915 ___ 7 116 118 ll7 117 117 118 118 11812 117 118 1153311734 117 11734 __ ... ____ ll6 1171? 1175s ll758 n61 4 11858 1171411712 E xtension 1886-1926 _____ 4 ____ ____ ____ ____________________ 90 99 __________________________________ _ Registered ___ ________ -4 9834 983.i ____ _ ___ 9812 9812 ________ ---- ---- ___________________________________ _ General 1987 gold- - ----3½ ~o 90 91 9134 91 91 9234 9234 9134 92 9134 9134 911 2 921 2 89 9212 921 2 95 9,11 2 9412 95 96 ___ _ Registered ---------- 3 ½ ---- ---- ------- __ __ ---- - --- ____ -- - - ---- ________ 89 89 ___ _ Sinking fund 1879-1929 -- -6 ____ ____ ____ ____ 10712109121111211112 ---- ---- ___________________________________ _ Regi stered ------- - - - -- 6 1081210812 ____ _ ___________________________ 110 110 ___________________ _ Sinking fun d 1879-1929-- - 5 ________________ 108 109 ________________ 10812108121091 2 1091~ ___________________________ _ Debenture 1909 _ __ ____ _ __ 5 100 18101 ________ 101 102 102 10214 1001s 10034 100341003-11011 4 10134 ________ 10178 10178 10234 10234 1oos8 1011~ 101141013s Regi stered ____ ___ _____ 5 ____ ____ 1011210112 ________ 1001410014 1001410014 ____ _ ___________ ____ ____ 991 2 993.i 10034101 Debenture 1921- - - -- -- -- -5 -- - - ____ 105 1051g ---____________ ---____ 108 108 1083.11083J __ ______ 108 108 Sinking fu nd deb 1933 ___ _5 ---- ----1081210812 ---- ---- ____ ---- 109 109 ---- ---- 109 109 ________ 112 1_12 1131411336 lll34 lll34 110 110 Registered _ ______ _ __ __ 5 Nort h ern Ill incis 1 st _ _____ 5 Ottum w a C F & St P l sL-5 Mi1LS& W l st 1921 g _ __ 5 Ext & imp 1929 g ______ 5 Chic Rock Isl & Pacific Ry- --- - ____ 107 ________ 118 118 118 ---- ---- ---- ---- 110 Mortgage 1917 ______ ____ 6 112 112 11212113 Registered - -- - - - - -----6 ---- ---- ---General 1988 gold--------4 941410012 95 99 Registered ____ __ ____ _-4 ____ ____ ____ Refunding 1934 gold ____ -4 8312 871s 86 867s Registered ------------ 4 ---Collat trust ser O 1917 ___-4 ---- ---- ---CR I & P RR 2002 _____ __ 4 5973 6433 5534 6134 Registered _____ ___ __ _ -4 62 14 6214 ---- ---Coll trust 1913 gold ____ 5 68 76 5912 72 BurCR& No1934g _____ 5106 111 111 lll Choe O & Gulf 1919 g _____ 51041210412 ____ Consol 1952 g ______ ___ _5 ___ ___ __ ---Keok & Des Moines lst---5 9834100 ___ _ Chic St P Minn & Omaha---6 121 12Gt ~ ____ Chic St P & Minn 1st ll'.---6 124 124 ____ ---StPaul&SiouxCity1stg_611612 11712117 11 7 Chic& West lndiana-1932.6 -- - - ____ 112 11 3 Consol 50-year 1952 _____ 4 94 9514 9514 9514 C:n Ham & Dayton Cin Day & I 1st gu '41 g ___ 5 ___ _ Cin Ind & W 1st gu '53 g __ 4 - - -Ind Dec E:.. W 1st 1935 it •• 5 ___ _ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 107 ---- - - -118 11 11012 lll ____ ____ ____ ____ _ ______ _ ___ _ ____ 1013410134 ---____ ________________ 1021410214 ____ 1013gl013s ---___ _ 101 101 ___________ _ 11S3.J____ _ ___ n912ll934 _________ _______________ 1191212053 111 ---- 11314 11314 ____ _ __________________________ _ ll2 112141131311314115 115 11512115121121 2 1121 2 ________ 115 115 115 1151411518 116 116 1161& ---- 115 115 ________ ---- ----112121121 2 ____________________________ · ___________ _ 96 9514 98 975s 99 9714 9834 95 96 941 2 96 9558 971 2 98 991 2 9938 101 1003410214 ____________ 9612 97 ____________________________________ 9734 9734 86 87 8434 8612 8614 88 85 8753 84 851 2 341 4 86 8538 891 4 861 2 8712 8712 90 8912 92 ---- ____ ---- -- ------ ---____ 351 4 8514 ___________________________ _ ---- __ __ ---- ________ ---- ---- ___________ _ ____________________ 90 90 57 6312 6112 6812 6413 69 6014 6634 521 2 665s 541 2 531 8 6t> 721 2 711 4 7414 1012 7473 74 79 ____ ____ ____ ____ ____ _ ___ 65 65 _________ ______________________ _ 611:i 67 6312 7334 70 75 63 72 60 67 61 6812 601 2 711 2 6934 77 747s 7912 7912 9112 11073l107g____ _ ___________________ 116 11638 116 11678 1151 2 11512 ____ ____ ____ ____ _ ___ 102 102 ________________________ _______ _ 94 ---- ____ ____ ____ ____________________ 109 109 _ ______ _ ____________ 1001410014 ________________ _ ___ 12li34 127 1281212812 12614 127 12514 12714 1271 2 128 ________________________________________ 1211 1211 4 4 1173sl173g116 116 116 116 ll512115t2l1558 11558 ll634 1163.1 ____ _ ___ 112 112 112 112 __ __ ________ 91 94 9434 9434 ____ 1011210112 10112 1011 2 ________________ ____ 1291R 12973 13 114 132 _______________________ _ ____ ________ ____ n 7 117 _ ___ 112s8 113 ____ 94 951 8 ____ ______ _ _ 104 10414 12812 130 12912 130 117 118 n 2r,8 113 97 100 ____ 96 ---- 70 70 ____ 70 90 70 91 ____ 96 \J6l2 9612 RAILROAD BONDS. 1908 103 C o111 i nued J anuary February March Aprtl May J une J uly August S ·p'ember October Nov .mber D c:!mber BONDS Low Htgh Low High Low High Low High Low Htgh Low Htgh Low High Low Hl/lh i. o;,v Htgh Low H i(Jh Low H i,!Jh Low H toh - - -- - - -- -- - -- - - - - - - - - - - - - - - - - - - - - - - -- --r------1------ - - - - - -- - - - - - - -- -C ievCin Chi & St L-'93 g_ -4 94 98 9312 97 921 2 94 95 9638 951 2 97a8 92 95 94 9714 9414 !l51 ? 95 9634 9614 9712 97 9912 9714 9814 Cairo Div 1st 1939 g _____ -4 ____ ____ 96 96 ---- ---- ---- - - -- ---- ---- ---- ---C:n Wab & Mich Div 1st g-4 ____ ________ ---- 9514 9514 ---- ____ --- St Louis Div 1st 1990 g __ -4 ____ ____ 90 90 93 93 ____ 9134 9134 931s 931s 93 9358 9614 961-1 96 9634 9512 957s li6 9612 Spnng & Col Div lst _____ 4 ________ 92 92 ____ _ ___________ --- ---- -- - - - - -- ---- ---- ---- ---- --- C I St L & C 1st 1936 g __ -4 ____ ____ 9514 9514 ____ ____ 9714 9714 97 97 ---- ____ 991s 991s 0912 9912 ___ _ Registered ------------4 ____ ____ ____ ____ ____ ____________________________ 97 97 ---- - --- ---Cin San & Cl cons 1st g __ 5 ____ ____ ____ ____ ____ ____________________ 1061:i 10612 ____ _ ______ _ ____ 110 110 CCC & I cons 1914 ___ ___7 ____ ____ 114 114 ____ _ ___________________ 11434 H434 ---- ________ ____ ---Gen cons 1934 gold-----6 ____ ____ 120 121 ____ 1241412414 12414 12414 1251212512 126 126 130 130 ___ _ Ind B & W 1st pref _____ -4 ___ _ _______ _ ____ 94 95 ---94 94 _______________________ _ ________ ---Peo & East 1st cons 1940-4 85 90 8812 8812 87 8812 87 90 89 90 8914 9 13,. 9034 91 917s 9214 90 935s 9312 95 93 9312 ~g :~ Colo~~~oom"1~J::~:-.:_1~t-ii::J !~12 ~i34 Colo & Sou- 1st 1929 g __ _-4 82 907s 8512 8812 Refund & exten 1935 ... 4 ½ 7512 7712 733s 77 Ft Worth & DC lst - ---- - 6 104 110 10812109 Cuba RR-·lst 1952 gold ___ _5 ---- ---- ---- ---Delaware Lacka & WesternMorris & Essex 1st 1914- - 7 11414 11812 ___ _ ____ 1 s t cons gu 1915 ___ ____7 ___________ _ NY Lack & West 1st '21 -- 611612 11612 ________ Construction 1923 __ __ __5 -- - - ---- ---Terminal & imp 1923 ___ -4 ____ ---- ---Del & Hudson- Penn Div ___ 7 123 123 ___ _ 1st & refunding 1943 - -- --4 ________ ---Convertible, 1916 ________ 4 9412 987s 95 97 1st lien equip 1922 ---- -' ½ 96 9614 ________ Alb & Susq conv 1946 g_3 ½ 9134 9712 9212 96 Registered -------- - - 3 ½ ---- ---- ---- ---Rcnss & Sara 1st 1921 .. -- 7 --- - --- - 1281212812 Denver & Rio Grande1st consol 1936 gold ____ __4 93 95 92 9512 Consol 1936 gold------4 ½ 98 98 ____ Improvement 1928 gold-- 5 100 100 ---- ---Rio G June 1st gu g _____ _5 ________ 97 98 Rio G Sou 1st 1940 guar--4 ________________ Rio G West 1st 1939 g ___ -4 8312 9012 8912 9012 Mtge & coll tr A 1949 g-4 75 75 ________ Oet & Mackinac- Gold 1995-4 80 83 ---- ---Detroit Sou- Ohio Sou Div - -4 7734 7734 ________ Dul & Iron Range-1st 1937 5 102 10712 10712108 Registered __ ___ ____ ___ _5 ________________ Dul S S & Atlan-1937 g __ _5 ________ 108 108 Elg:n Joi & East- 1st '41 g _5 ________ ---- ____ Erie-1st ext 1947 gold----' 99 105 ---- ____ 2d ext 1919 gold - ---- ---- 510112 10112 ______ __ ad ext 1923 gold ______ -4 ½ 1001210012 _______ _ 4 th ext 1920 gold ________ 5 ________ 1061210612 5 !h ext 1928 gold _____ ___4 ---- ---- ---- ---1st consol 1920 gofd ______ 7 ________ 121 122 1s t cons fund 1920 goJd __ _7 120 12014 ---- ---1st cons prior lien 1996 g_ -4 8312 8612 8212 8614 Registered ____ _______ _4 79 79 - --1st cons general 1996 g __ -4 67 7212 55 68 Penns coll tr 1951 g __ ____ 4 73 77 72 77 50-yr conv ser A 1953 g_-4 56 61 44 56 :i :~lg :~ :~ 14 :: :i7g 87 8934 88 90 8912 90 767s 8214 7812 8034 7812 7934 10612 108 10812 110 106 10612 ---- ---- 91 91 - - -- ---- ---- ---11 71s 1111 _ _ _________________ _ ____ 8 ---- ---- ---- 1201412012 ---- ____ 117 117 - - -- ---- ---------- 1085g 109 ---------- 911s 971 8 99 99 ---- ------- 12112 12112 ---____________________________ 96 9612 99 98 100 9612 100 97 97 97 - --- ---- ---- ---- ---94 95 93 963s 9514 96 95 9534 ------- ---- ---- ---___ _ !~12 ~gl2 86 88 73 77 106 1077s 0012 92 ~~ ~~ :~ ii :r 2 :g;: ~~!! ~! 92 9414 84 8612 112141141:: ---- ---- :~ls 94 96 86 883g 113 11512 ---- ---- :~Is 95 96 8534 88->4 115 1153.1 ---- ---- ~gts 96 8734 114 ---- 117 117 us1s 1181s -- -- ---1121,:111214 98 100 ____ ____ 11712111111 ________________ 121 121 1211212412 112 112 ---- ---- --- --- - ---- ---- ________ 119141-1912 ---- ---112 112 100 102 1145s 115 1201s 1201s 125 125 ---- ---10014 10014 11412 11 5 ______ _ _ . --- ---10014 10014 a9SI 4 9938 97 991 4 ---95 9534 ---- a9s1 8 10058 991 4 101 - --- ---9534 98 96 96 10038 1011210018 1021410012 1011s 991 2 1023s 100 101 102 104 ---- ---- ---- ---- 1037g 1041:i 98 9838 9514 9712 963s 99 -- -- ---- ---- ---- ------- ---- ---- 129 129 101 10212 101 105 10314104 9 34 100 ------- ---- 9014 9014 9034 9334 9112 9212 89 ---- - --- ---____ 94 94 __________ __ 85 85 8812 90 89 90 89 90 8612 87 70 74 72 72 725s 725s 74 7412 ---- ---- 85 85 ________ ---- ------- ____________________ ---- ---108 108 1043410434 106 1093s 10812 10812 1061210612 ___________________ _ 1077s 109 -- - - ____________ ------- ---- ________ 10612 10612 -- - ---- ---- ________ 9912 9912 ---104 104 104 1041 8 ___ _ 9334 99 ___ _ 1041s 105 ________ 104 104 ~~ 8934 93 9034 921• 1s14 8078 81 8434 108 1091 2 1101211114 ________________ 92 9412 95 921 2 93 96 9912 9734 11514 - --- 9212 94 9234 97 961s 97 97 9914 _ ____ __ _________ ____ 1033410334 99 100 10034 _______ _ 100 103 9712 96 . __________ _ 84 851 2 87 88 s11 2 9038 75 75 76 76 74 74 8712 8712 8912 8912 ___ _ __ _ _ ---___ _ ---- 91 74 84 112 9312 9612 93 757g 76 7S ---- ---- ---84 84 84 11 212 11212 11212 951s 80 90 84 114 98 80 90 84 115 ---- ---- ---- 103 104 ____ 1051gl051g ___ _ 98 98 ---- ---- ---1111211112 117 11812 119 11m2 lHl 119 iiii12 11-91; 12212 1221; ==== ==== 121 122 12514 12514 125 127 ---____________ --- ____ ___ _____________ 121 121 82 84Is 8312 8612 8612 90 80 90 81 351 8 85 88 86 8734 86 8714 87 8912 8914 c9012 ____ ____ ____ ____ ____ ____ _ ______________ _ 56 6812 64 72 6812 72 6012 71 62 681 2 661 2 701 2 681~ 7234 71 74 73 7612 7314 c7612 70 73 6734 7812 7712 843s 8212 8412 s o 821 2 s o 82 8234 83 861 2 8612 875s 8338 811 ~ 83 43 54 14 4614 5712 55 617s 54 627s 551 2 6634 61 647~ 64 - 72 5912 74 73 801 2 7 7 79 Coupon on - - - -- - - ------ - -- 68b '/ 11 2 ____ _ ______ _ 50-yr conv ser B 1953 g __ -4 53 56 50 50 40 48 48 5234 517s 56 49 56 51 5734 551 2 5714 571 63 5914 t: 51 o 65 70 66 69 Coupon on - - - - - --- - - -- - - --- ---- ------- ---- ---- --- ____________ 59 6212 ___________ _ Buff N Y & Erie 1st 1916-- 7 118 118 ------- ---- --- - ---____ 115 115 __ _________________ _ Chic & Erie 1st 1982 g __ __ 5 10814 111 112 112 111 111 11012 1103410812 110 110 110 112 112 ________________ 114 115 11 3 1151 8 11511111;;a4 Cleve & Mab Val 1938 ____ 5 - - - - - --- ---- ---- ---- ---- ---- ---- ---____ ____ ____ ___ _ ____ 12 1 121 Jefferson 1st 1909 gu g ___ 5 ________ ---- ---- ---- ---- 9812 9812 ____ 100 100 __ _ _ _ ___ 10534106 Long Dock cons 1935 g ___ 6 121 1225s 124 124 _:, 41? 1is ____ _ ___ 128 128 Dock & impt 1st 1913 -----6 ____ ____ ---- ____ 106 106 ____ ____ ____ _ ___ 10 6 106 N Y & Green Lake gu g ___ 5 ____ ---- 100 100 ____ ____ ____ ____ _ ________ __ _ NY Sus & W 1st ref g ____5 - --- ---- ------- --- - ---- ---___ _ 105 105 ____ 104 107 General 1940 gold ______ 5 92 92 91 9212 --- - ---- 9334 9412 !JO 90 1:,.i 1:,9 ____ 89 g9;4 89 941~ .;5 9512 ____ ___ _ Terminal 1st 1943 gold- - 5 110 110 ---- ---- ---___ . 11 21<? 113 11'11211412 Mid of NJ 1st 1910 g ___ 6 102 1023s ---- ---- - - - - ---- ---- ---- 10 1 102 102 102 102- 102 ________________ 101 101 10218 1021 8 103 10 3 Wilkes & East 1st gu g_5 ____ - -- - 101 101 10012 10012 ---- ---- 100 100 --- ____ 100 100 102 102 ___ _ Ev & Ind-1st cons gu g __ _5 ___ _ ____ ---- ---- 110 110 ---- __ __ ____ 103 113 14 ==== ____ 11034 110.1~ ___ _ Ev & T 1:1-lst cons 1921g __ 5112 112 ---_______________ _ 1st general 1942 g _______ 5 96 96 ---____ 100 102 103 10 3 iii212 frii1; ~=~= __ ___ __________ _ Sullivan Co Branch-- ____ 5 --- - -- - - ------- ---- ____ 95 9 5 __________ _____ _ Ft Worth & Rio O-lst ir---4 76 78 78 78 74 7614 75 80 81 85 ---____ ____ ____ 80 so 821 2 83 85 871 2 86 88 Gal H & Hof 1882-lst '13 _5 -- -- - - -- - - ----- - - -- ---- ---________________ 96 96 _________ __ _ fit North-CB & Q coll tr.-4 9214 975s 93 !1814 93 951s 9412 9614 953s 97 96 1s 99 !!534 9634 95111 98 98 100 971 2 9ga~ 98 9918 9834 100:is Re1tistered ____________ 4 9234 9634 9312 9412 9212 9212 9312 95 94 9514 9412 967s 9558 951 2 96 971 2 97 98 951., 971~ 9634 9734 9634 9712 'St P Minn & Man 2d 1909-6 ___ _ __ __ 10414 1041410412 1045s 10214 10214 104 104 10314103 3.i 104 104 ________ 1051 4 10614 103 -10312 10338 10338 103 10338 1st cons 1933 g _____ __ _6 --- - ---- 1261s 128 12612 12612 12834 12834 12s12 12834 ---- ---- 12734 12734 ________ 1291 2 1291 2 ________ 1317s 13178 _ ___ __ _ _ Reduced t0- -------4 ½ 102 10612 105 105 105 10534 10534 107 107 108 10712108 106 1011 8 107 1os1 2 108 1081 2 1os1 8 1091~ 1091 2 109~4 11 014 11134 Dakota Exten 1910 g _____ 6 ---- ---- ---- -- - - 10434 10434 10512 10534 104 10414 1037s 1037s 10458 1051 4 10512 1051 2 1051 2 10512 1011 4 1011 4 1033s 10312 10334 10414 Mont Ext 1st 1937 g ______ 4 94 9812 9812 9812 9812 9812 99 99 ____ _ ___ 98 98 ________ 991 4 9912 101 101 101 10 1 East RY 1st div. 1st g ____ 5 1011410114 ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ _______________ _ Mont Cent 1st gu 1937 g __ 6 128 128 - --- ---- ---- ---- 130 130 ________ ---- ---- ____ ____ ____ _ ______________________ _ 1st gu 1937 g __________ 5 -- -- ____ -- - - ---- -- - - ---- 11112 11112 ________ ---- ---- ____ ____ ____ _ ___ 11318 11 4 ________ ---Oulf & SI-1st ref 1952 __ __ 5 -- -- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ________________________ 95 95 ____ ____ ---Hockmg Vall-1st cons ir-4 ½ 9812 103 9912 10214 9912 10212 100 10212 1021s 103"s 1021s 10312 101a8 1031 ., 103 1031 2 104 IOol i 105 1001 2 10612 1011 4 107 1011s Registered - - - - - --- -- --4 ½ - - -- ---- ---- ---- ---- ---- ---____ 10012 10012 ___ _ _ _ _ _ _ _ _ _ _ _ _ _ \J ti 96 Col & H V 1st ext 1945 __ _-4 _______ __ __ _ ___ _ -- -- --- - - - - 96 ___ _ Col & Toi 1st ext 1955 __ __ 1 - - -- ---- ---- ____ ---- ---- ----- -- 96 - --- ---- --- - 100 100 ---- ---- ---- ---- ____ ---- ---- 4 Illinois Centra 1st 1951gold _______ ____ -4102 102 102 103 l '.)312 10312 ________ 102 l:J2 ---1st refunding '1955 ___ ___ -4 __ _________________ _ 1st 1961 g-0Jd,_ ____ _____ 3 ½ ________________ !1134 :,l-1~ ___ _ Registered - - - ------- 3 ½ ---- _______________________ _ Extended 1st 1951 g ____ 3 ½ ___________________________ _ Collateral trust 1952 g __ -4 97 10012 1011210112 ________ 98 98 ___ _ _ __ _ 99 \j ::, ____ 100 lOu L NO & T 1953 g _______ -4 9814 9814 ________ 101 101 101 101 Lou Div & Term 1953 g _3 ½ ________ Western Lines 1st 1951-- -- 4 ____ St L Div & ]'.erm 1951 g __ 3 _ __ _ 1951 gold ------ - ----3 ½ ____ Carb & Shaw 1st 1923 g _-4 ___ __ Chic St L & N O 1951 g __ 5 -- -Memphis Div 1st 1951 g -4 ____ S t Lou Sou 1st 1931 g _-4 ____ 85 85 - - -- ---- - - -- 101 101 _ _ _ _ 997g 100 99~~ 10012 _ __ _ 9;s;8 9358 ---- 10212 1021~ ---- ---- 9134 913~ ----- _ _ 94 94 _ _ _ _ 102 102 102 102 101 101 88 8,34 s91 4 s11 8 ss1,1 ___ _____ ss _______________ _ ____ _ ___ ___________ _ J--- ________ 7614 7614 ---____ 875s 875s 7912 7912 87 87 ---- 100 100 97 ---- 11212116 --- - ---- 115 _ ___ ____ ____ ___ _ ___ _ _ _ _ _ 8 ~s 90:i4 _ ___ ___ _ ---- _ _ _ _ 8912 8912 _ _ _ _ _ _ - 97 ---11 5 117 117 ____ 100 100 ___ _ ____ ---- ____ ------- 98 98 ---Ind Illinois & Ia-1st g ___ -4 ________________________ 95 95 ___ _ lntemat & Cit Nor-1st '19 g 6 109 109 ________ 101 103 ________ 103 104 104 104 ____ 106 106 ________ 106 106 108 110 2d 1909 g0Jd ___ _________ 5 88 90ts 89 89 70 75 73 SJ 80 801 2 80 80 ____ _ ___ 79 81 81 8112 85 85 Trust Co receipts _________ ___ ____________________________________ 80 SOis ___________ _ ____ 79 82 82 85 ________ Iowa Central-1st 1938 g __ _5 10014 1os 12 ________ 102 103 103121031210512105121041210612104121011 2 101 10812 108141081410812110 110 11212 Refunding 1951 g ________ 4 70 75 75 78 7414 75 74 7614 7534 78 7553 7534 73 73 73 · 7412 7312 76 7512 76 7512 79 701s 70 Kansas C Sou-1st 1950 g __3 69 7014 70 71 101 2 71 70 101 2 70 71 71 72 72 1212 73 74 72 72' 72 73 Lake Ede & W-lst 1937 g_5 107 110 10612107 1101s 1101s 10912110 ________________ 107 109 1091211112 112 112 ____ ---- --- - ---2d 19U gold ___ __ __ ___ __5 ________ 100 100 1001 2 101 ____ ____ ____ ____ ____ ____ ____ _ ___________ 103121031210312 10312 North Ohio 1si gu 1945 g __5 ________________ 105 105 105 105 1051210512 ____ ____ ____ ____________ 105 105 ____ -- -Lehigh Val (N Y)-lst gu-4 ½ 1021s 1021s 10212103 103 10414 10434 105 10412105 1051210512 104 104 105 106 10614108 108 1083410834109-'>s Registered ------- --- --4 ~~ ____ ____ ____ ____ ____ ____ __ ______ ____ ____ ____ ____________ 108 108 ___ _ Lehigh Val (Pa)-2003 g __ -4 8712 8912 ________ 92 92 95 95 9412 9412 9334 9334 ___ _ _ ___ ---- ---- -- -behigh Val Term-1st gu g _5 108 108 __ __ _ ___________________ ---- ---- 1141211412 ________ 111121111~ ~--- ---- - --Lehigh Val Coa1-lst gu g __ 5 ____ ____ ____ ____ 106 ·106 1073410734 ---- ---- 1011210112 ____ - ---- ---- - ---- ---- ---- ---1.ehigh & N Y-lst gu 45 g-4 ---- ---- - --____ 9512 9512 97 97 ---- ---- ---- ____________ ---- ---- ____ ---a interest trom May 1 ; An~ i1c1:. 11 om l':f ov . 1. ~_Coc1pon ·m. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis l :J l 9912 _ ___ 1(103-1 101 9912 _ __ _ 10034 1°9 7914 9012 9034 110 110 ---- ---8714 87 14 108-5s 108 7s 7812 821s 7234 7353 1141211412 106 106 110 110 ---- 104 RAILROAD BONDS. 1908-Continued. BONDS Januar?J February March AprU May June Juty Auuu..t Ceptembcr O. tobcr Nov~m'Jer D ,cember Low Htuh Low Ht{Jh Low Btgh Low Ht{Jh Low Htgh Low Ht{Jh Low Htgh Low High Low Hign Low H ~Uh Low Htgn Low Hiuh -------------1 --------------------------------------------1 ---Long Isl-1st cons 1931g __ 5105 110 ________________________ 1103411034 ____ _ ___ 112 11212 1121411214 ________ 111 1121 111 111 4 General 1938 gold--------4 8314 8712 ________ 8514 8514 88 90 9112 9212 ____ _ __ _ 94 94 ____ 97 97os 9412 951 4 Ferry 1922 gold --------4½ ---____ ____ ____ ____ ____________ 1.01 102 102 102 Unified 1949 gold--------4 81 82 ____ ____ ____ ____ _ ___ 9::l 9312 92 9312 9214 921 4 94 94 941 2 941 Deben 1934 gold----------5 ---____ ____ ____ ____ ____________________ 1041 2 104122 Guar refund 1949 g _____ -4 90 95 ____ _ ___ 93 9512 9318 95 9414 94 14 941:i 9514 96 97 ____ 953~ 97 98 98 971 2 981 2 Bklyn & Montauk 1st '11 __ 5 ____ ________________________ .. __ __ _ _ ____ 10014 10014 ________ 10158 101:; 8 Louisiana & Arkan-1st '27-5 ---- ---- ------ - 98 98 ---- ____ ---- ---- ---- ---- ---___________________________ _ Louisv&Nash-Gen'30g __ 6113 117 ________ ll25gll25g ________ 116 116 117 117 11612117a4 117J4l18l4 ________ 11912120 120 120 11734 118 Gold 1937 _______________ 5 ---- ---- ------- ---- ---- 110121101s ---- ---- __ __ ___________________________________ _ Unified gold 1940 _______ -4 9514100 96 100 95 96 953s 9734 9512 99 9812 99 96~s 98'8 9712 99 99 9934 991 8 99~6 9934 102 1011 2 103 Sink fund 1910 gold ______ 6 ---- ---- ---- ---- ---- ---- ------- 105 105 ---- ---- ________ ---___________________ _ Collateral trust 1931g ____ 5104 104 104 105 ---- ____ ---- ____ 102 102 102 102 ---- ____ 103 103 ________________ 107 107 10934 10934 5-20-year coll tr 1923 g __ -4 88 9112 9214 94 9214 93 91 92 93 931 2 9314 9412 9412 9514 9514 9512 95 9614 95 961 2 961 2 95a4 951 2 98 Lou Cin & Lex 1931 g __ -4½ 1031410314 ________ 104 104 ____________________________________________________ _ NO & Mobile 1st 1930 g __ 6 11534117 ---____________________ 1191411914 ________ 122 122 ____________ . ___ _ Atl Knox & Cin Div _____ -4 8712 8912 86 89 87 88 88 8812 86 88 88 8814 875s 89 8834 901g 92 931s 93 941 4 ________ 941 4 951 2 Kentucky Central 1987 g_-4 ________ 88 92 90 91 90 9034 935s 935g 94 941s 9212 9212 ________ 96 96 061 2 961~ 971 2 97a_1 ___ _ L & l'I & Mob & M 1st g -4 ½ ------- 9712 9712 ---- -· __ ____ _ ___ ___ ___ __ 100 103 L & N-Sou-Monon joint---4 87 87 ____ ____ ____ 82 82 7912 80 82 82 84 84 ________ 85 88 87 8812 Nash F & Sheff 1st '37 g __ 5 ---- ---- ---____________________ 11014 11014 ____ _ ___________ 1123411234 113 113 Pens & Atl 1st gu 1.921g __ 5113 113 ---- ____ ---- ___________ ____ ____ _____ ___________ _____________________ ___ ____ _ Sou & Nor Ala con gu '36_5 ---- ---- . ----- -- ------ -- - ----- -- ------ __________ --- ---- _____________________________ _ ---- 11'.:! 11212 Louis & Jeff Bdge--Gu g ___ -4 9112 9ll2 ___________________________________________________________ _ Mexican Cent-Cons 1911 g-4 7414 85 79 83 8112 84 79 7s 8334 80 8534 8312 853g 81 83 8112 8212 81 8219 81 s21 8 82 8212 8934 83 Trust Co certfs dep ________ ---- _____ ___________ ___ _________ 8014 855s 84 8512 82 83 8114 8312 82 321; 81 821? 81 82 84 86 1st consol income 1939 g __ 3 1412 2012 1612 2014 1812 2014 15 2014 153s 1712 1614 1712 ________ 1634 1814 16 171~ 16 1734 1819 19 20 2434 Trust Co certfs dep ______ ---- ____________________________ 151s 18 16 1634 ___ .. ____ 1612 1812 1612 18 - 1614 18~s 1778 1934 18 2512 2d consol 'ncome 1939 g __ 3 10 157s 1334 1714 1612 18 141s 1812 14 1612 ____ 1634 1634 1714 17 14 18 18 Trust Co certfs dep ______ ---- ---- ---- -- -- ---1434 1634 15 15 14 15 15 167s 16 1614 15 1112 17 23l2 18 18 Mex Internat'I-StamPed __ -4 ---- ---- 80 80 ___ _ Minneapolis & St Louis____ l!.16 126 ____ _ ___ 1271:?12712 ___ _ 1st gold 1927 ____________ 7 ---- ____ 1251412514 ________ 128 128 Iowa Ext 1st 1909 g ______ 7 ---- --- 103 103 ------- 101 101 ---- ---- 1011410114 ---- ---- ---- ---- ---- ---- 101 101 _ ___ 100 10014 101 101 1023s 10238 1023s 1023s 10314 105 105 1051 2 ________ 1041 2 1051 2 1061 2 1101 2 1st consol 1934 gold------5 100 100 ___ _ 80 ____ _ ___ 80 80 79ls so12 785s 786s 78 7958 7934 841 2 841 2 86 1st & refunding 1949 g __ -4 80 82 80 8034 80 M St P & S SM-Cons '38 g-4 ---97 97 97 97 ---- ---- 9673 9734 98 98 ---- ---- 100 100 ---- ---- 10034 10034 Missouri Kansas & Texas1st 1990 gold ___________ -4 94 9734 94 98 94 96 9512 97 9614 99 96 97 96 14 98 971:i 98 98 9912 991g 100 9912101 9812 9912 2d 1990 gold ___________ -4 81 84 82 7712 8019 777s 813s 81 79 8334 8314 84 83 85 8212 312 8312 86 85 8578 8538 8738 87 90 9 98 - 99 10012 100 101 1001 2 102 101 104 1041s 106 10412106 105 1061:i 10478 1061 4 1041 2 10614 98 98 1st extension 1944 gofd ___ 5 95 98 747g 74 7g 75 75 78 1st & refundin g 2004 ____ -4 ---7512 75 7612 765s 77 771s 8112 77 80 78 79 79 831 8 831 2 87 72 7414 74 78f>s 81 78 7912 80 82 so12 s212 8158 831 8 83 88 881 2 96 7718 82 79 Gen sinking und 1936--4 ½ 74 7712 71 77 St Lou Div 1st 2001 go!d_-4 83 83 ---- 801g 801g ------- 83 83111 8312 8412 83 83 83 84 86 86 Dallas & Waco 1st gu g __ 5 -------1021210212 ---- ---- ------- -- -- ---- 105 105 103 103 ---- - -- - ---- ---87 ________________ 90 90 _______________ _ 865s 865s 9212 921 2 9412 95 ---- 87 Kan City & Pac 1st '90 g_-4 ---Mo K & E 1st gu 1942 g __ 5 ---- ---- 1053s 1053a 106 106 ---- ---- 106 107 ----10712108 -- -- ---- ---- ---- 108 108 ---- ---- 111 112 Mo K & 0 1st gu 1942 ____ 5 ---- ---- 10234104 ___ _ ---- 102 103 10212104 103 103 103 10434 107 107 1041210614 106 109 108 109 107 10914 M K & T of Texas 1st gu g_5 9712103 103 103 100 10012 9912102 1021210612 ---- ---- 1027g 103 104 10534 ---- ---- 105 1073g 1061410714 10714108 Sher Shrev & S 1st gu g __ 5 ---- ---- ---- ---- ------- ---- ---- 100\g JOO lg ---- ---- --- - ---- ---- ---- --- - ---- - - -- -- -- ---- ---Tex & Okla 1st gu g ______ 5 ---- ---- ---- ---- ---- ---- 103 103 103 103 10212 10212 103 104 ________ 1043410434 107 10712 108 10814 108 IO 34 Missouri Pacific1st consol 1920 gold ______ 6 106 106 10412105 105 106 108 llO 106 10712 1071s 1071s 1065s 109 11112 ll 2 113 113 11312 115 11212 11312 11312 1 J5 Trust 1917 g stamped ____ 5 94 97 9214 99 88 90 91 95 9134 97 96 97 9612 9814 985s 10212 9812 9912 9812 JOO 993410112lOll2102 94 96 \-J7 97 953g 9712 9blg 98 9712 9712 9612 9812 99 10114 1011410312 1st collat 1920 gold------5 93 9712 93 98 877s 90 88 95 69 7312 6_912 715g 7012 7612 761g 7812 7412 76 74 747g 74 7834 7812 8014 40-year gold loan 1945 ___ -4 ------- 68 7612 69 72 3d 7s 1938 extended at _-4 ---- ---- ---- ---- 95 95 ___ _ Cent Branch Ry 1st 1919 g-4 ---- ---- 85 85 ___ _ _ -- _ 88 Cent Branch UP 1st '48 g_4 8312 84]4 ___________ _ Pac of Mo 1st ext 1938 g __ ~ ---- ---- 99 14 99 14 ___ _ 2d ext 1938 gold ________ 5 ---- ---- ---- --- - ------- 111 111 St Louis Iron 1'\tn & So-Gen cons ry & I g 1931 g_5 t04 110 10414 1083E 103 10514 103 10612 106ts 108 Stamped _______ _____ 5 ---- -- -- ____ ____ 100 10312 106 106 I I : . : : : :. ; :• Unifying & ref 1929 g __ -4 747s 78 74 78 68 76 74 76 751 2 80 1: : !· •• • •• : • • • :, :• :. • Riv & O Div 1933 g ___ -4 85 86 l4 83 8512 76 8012 80 82 801s M Mobile & Ohio--New 1927 g_6 113 11312 113 113 ____ 1131211312 11634119 ' ' . 1st extension 1927 g ______ 6105121051 2 ____ ____ ____ ____ ____ ____ ____ _ __________ _ General 1938 gold _______ -4 ---- ____ 84 14 841~ ____ ___ _ ____ ____ ____ ____ ___ _ 212 85 84 86l4 88 87 88 ,. . .. . ■■.. ■:■■· ■· . rtE~~?!"&rtR~~ ½9&~4?-~=: ==== ====!==== ________ ==== ==== ==== 1~; 1 21~~1 ~ ==== ________ ==== ~=~- 1_0_5__ === = ==== ~~~~21_1_2~: . ~~=~s 1_1_2_3: ~~~~21_1_2~: Nash Chatt & St L-1st •13_ 7 ____ ____ 11214 J1212 11234 1121s 1131 2 11414 110121141211234112341121211212 113141141s 1141R 115 115i4 116 1153s 11 53g 1st consol 1928 gold------5 107 10114 ________ 1011 2 108 1051 2 108 108 10s1 8 1081s 110 111 111 ________ 112 1121 ~ 11038 11oa8 11034 110:iJ 112 1121 2 National of Mexico-Prior lien 1926 gold----4 ½ 99 99 ____ 100 lOOlt, 100 100 ________________ ---- ---- ________ JOO 100 ________ 1001210034 ___ _ 1st consol 1951 gold------4 77 81 81 82 80 · 80 _____ ___ 801 2 811 2 8 1 82 lH 8112 8112 8112 8212 8312 ________________ 8 1 8 114 N Y Cent & Hud Rivj Gold mortgage 1997 ____ 3 ½ 8719 91 88 897g 8812 8934 F9 9012 891 4 91 93 931 8 94 931 2 96 9014 9314 9114 9234 91 1s 913.1 9114 927s 92 Registered ---- - -----3 ½ 88f>s 885f ________________ 8812 8812 8858 891 4 90 90 ________________ 901s 9012 91 91 ___________ _ Debenture 1934 gold-----4 91 9312 !:14 9412 94 95 94 941 2 911 2 931 2 93 94 9234 931s 9212 9:1 9312 95 941 2 !153.1 931:i 94a~ 94 9434 Registered ______ ______ 4 ---- ---- ---- ---- ________________________ 101 101 __________________ _____ ________ _ Lake Shore .coll g 1998-3 ½ 77 82 75 7914 751 2 771 4 77 80 7978 82 801 4 811 ~ 82 84 81 83 821 4 84 82~4 84 85 6 85 86 Registered ----------3 ½ 7434 7714 73 78 73 753.• 75 79 731 2 so1 2 781 4 801 2 80 81 80 811 2 82 821 8 8 114 83 831 4 851~ 84 841,1 Mich Cent co .I g 1998--3 ½ 7412 8 1 7512 7712 77 77 75 701? 78 78 80 81 80 S;s ____ 8212 82I~ 821 2 841 2 861 2 851 2 851 2 Registered ----------3 ½ ---- ---- -- -- ---- ____ 76 76 · ____ ____ ___ _ _ ___ 82 821 2 · --Beech Creek 1st gu 1936--4 ____ ____ ____ ____ ____ ____ 99 99 Mohawk & Mal 1st gu g_-4 ---____ 9 Os _______________ _ N Y & Harlem 2000 g __ 3 ½ ____ ____ 951 4 !!614 ___ _ N Y & Northern 1st g ____ 5 ____ ____ 1011210112 ___________________ _ NY&Putnamlstcongug4 ____ ____________ ________ JOO 100 _______________________ _ Rome\V&OconslsL ---5---- ____ 110 1111 ~ 1u97gIO\Jifl J8lg ]U:J l"\J ll012lll 111 ll2 112 llll2llll2Jlll~lll ig l1034lJ(}34JlOl21JOlzllll41li Oswego & Rome 2d gu g_5 105 105 ____ ____ ______ __ ____ _ ______________ _ Rutland 1st cons 1941 g_~ ½ ---- ---- ---____ 103 103 Ogd&LakeC1stgu'48g.4 8434 8434 , / 87 ____ 1,:.: ~~ 86 86 87 87 371 8 881 4 861 8 861 8 ________ 89 03 Rutl'd=Can 1st gu g ___ -4 85 85 ------- 90 90 ___ _ St Law & Adir 1st g ______ [ ---- ---- ---____ 112 JU 2d 1996 gold __________ c ________ 1~5 125 ____ _ ___ 125 125 ____ _ ______________ _ Utica & R River gu _____ -4 ---- ---- - --___ _ !J934 993~ ____ _ ___________ 10314 10314 LS&MSgold1997----3 ½ 8934 9212 92 92 __ •______ 02 94 1/3 93 !Jl 92 9112 94 9212 93 03 9412 9::Jl9 951 4 95 96 9412 95 Registered ----------3½ 90 9214 ____ _ ___________ 9212 9212 __________ __ ____ 92 92 931s 93ts 93 - 03 9234 93 9312 931~ Debenture 1928 g ____ -4 !S87s 95 92 94 9034 92 9112 9212 8958 95 925s 9334 9312 95 95 96 9334 95 94 95 9434 961 2 9614 973s 25- year 1931 g _________ 4 885g 9412 9014 93 9034 921~ 9134 927g 90 9312 917g 927g 9Fl4 94 9334 9434 9412 9534 95 96 9334 9534 951g 96 Registered ___________ -4 ____ ____ 9214 9214 __ _ _ Pitts & LE 2d 1928 ______ 5 ---- ---- ---- ---- ________________ 100 100 ________ ---- ---- ____ _ _________________ _ _ A\ichigan Central-1931--5 ---- ---- ---- ---- ---- ____________________________________________________ 1143411434 _______________ _ Jack L & S 1951- gold--3 ½ ---- ---- ---- ---- ---- ---- ---·- __________ __ 90 90 _______________ _ ______________________________ _ _ 1st 1952 gold ________ 3 ½ ---- ---- ---- ---- ________ 88 88 ____ _ ___ 8834 8834 ________ 90 9112 ________________ !Jll2 9212 N Y C & St L 1st 1937 g_-4 953s 993s 9914 9914 9912 101 975s 100 100 101 99 100 993410034 10012102 101341031 100 101 1001 2 1013.1 1011s 10134 Re~istered ____________ 4 ---- ---- ---- ---- ---- ____________________________________________ 100 100 2 _____________________ __ _ 25-year deben 1931-----4 -- - - ---- ----- -- ---- ____________________________________ 92 93 93 93 ______________ _ _ West Shore 1st 2361 gu--4 98 103 100 10214 100 1007s 1001210112 100 103 103 104 10114103 102 1031s 1021210312 1021 2 103a8 10258 10334 1033s 105 Registered ____________ 4 961s 101 99 1007s 99 100 991210012 100 102 10112102 100 102 101 102 101 10212 10114102 1015s 1021 2 10034103 N Y Ceo tral LinesEquipment trust 1910 ___ 5 ---- ---- ------- 1021210212 ---Equip Trust 1911 ______ 5 991s 991s ___ _ Equipment trust 1912---5 ---- ---- ------- 102121021: --- Equip Trust 1915 ______ 5 985s 9914 ___ _ Equip Trust 1918 ______ 5 9914 99f>E ___ _ Equip Trust 1919 ______ 5 9934100 ___ _ NY New Haven & HartfordConv deben ______________ 611512124141181212334 118341233s 120 126 123 1271s 12312 127 124f>s 1281s 12634 13014 129 13012 1293s 134 1331 2 136 1353413712 Conv deben 1956 ______ 3½ ________________ 83 8612 861s 88 87 8814 86 87 85 8734 88 9012 9034 93 92 9512 96 100 09 10012 Non-convert 1954 ______ 3H ---- ---- ---- ---- ---- ---- ------- ---- ---- ---- ---- 88 88 ---- ---- ---- ---- 85 85 ---- ---Housatonic cons 1937 g __ 5 ---- ---- ____ ---- 112 112 ___ _ ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- 1181211812 N Y Ont & W-ref 1st g __ -4 c212 9712 95 98 94 9416 94 96 96 97~ 94 9"3g 9512 97 97 9812 9512 991~ !J8 99 9814 9914 9914 10012 Norfolk&. South-1st 1941 __ 5 ---- ---- ---- ---- ---- ---- ------- 9912 9912 ---- ---- ---- ---- ---- ---- ---- ---- ---- --- . -- -- ---- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD BONDS. 105 190S-Continoed. Jut11 June May Aprtl 11,tarch February January BONDS __H_to_h ~-w_H_to_h ~~-H_to_iz H_to_n _Low _ _H_i!J_h _Lo_w_H_io_n _Lo_w__ _ _ _ _ _ _ _ _ _ _ _ _ ,_L_ow_H_t!J_h _Low =-~ September August w_h ___H_ H_l,{J_h _Lo_w October December / N0V(:mber ~~ H_t'l_h _L_ow_H_io_n ,_L_o_w_H_t_oh_ Norfolk & West-Geo 1931-6 120 1201s ___ _ ---- ---- ---- 128 12834 , ____ ---- 12712 12712 Jmpt & exteo 1934 g ____ 6 1111211112 ___________________ _ ---- ---- ---- 1291212912 New River 1st 1932 g ____ 6 ------- 126 1:16 ---- ---N & W Ry, 1st cons 1996.4 9214 9712 95 9614 90 96 9812 9934 97 9413 9734 9734 99 941g 95 9412 9334 95 93 9812 9912 9812 9914 98 Divisional 1st lien ____ -4 8414 8873 87 8 12 8712 88 9113 923.1 93 /g 93 90 881g 88l4 8812 90 ---- ---- 8933 90 9513 96 94 89 91 9()38 89 831 4 811 4 87 10°25-yr conv 1932 ___ .4 78 843s 8012 8314 801? 8173 7934 8234 8233 87 8214 85 9334 9112 9114 9533 92 871? 89 87 87 84~6 86 8412 83 865g 83 841; 853-1 8434 8513 84 8512 86 Poca hon C & C joinL-- 4 77 84 901? 911? 90 90 92 E 1st gu g __ 4 8712 95 9812 98 Scioto V & 98 9613 98 94 9112 9012 9053 9112 9314 9312 9414 94 90 915g 95 9812 9612 9612 96 99 Northern PacificPrior lien 1997 gold------4 9912 10134 993410114 993410012 99 101 1003410153 101 102 1011410212 1013410334 102121041 4 10134 10234 10234 104 103 1041 8 !J\112 9\11 2 100121001 2 103 103 1011 2 1011 2 9934 97341005g 991210012 101 101 101 101 101 101 99 Registered ___________ .4 98 9912 98 100 733 741 73 73 74 73 74 73 7034 7214 711s 1112 7112 7212 7214 74 73 70 71 7012 7114 70 General lien 2047 g ______ 3 68 72 71 ________________ ________2 _______ _4 71 _ ___ 6 1 71 6812 681 ____ 70 ____ 70 Registered ____________ 3 ____ 2 ____ ____ 2 _ ________________ _________ _ _ ____ ____ St Paul-Dul Div g 1996--4 89 9612 ____ _ ___________ 116 116 ________________ 121 121 123 1231 ____ 116 116 ____ St P & No Pac gen g _____ 6 117 117 8 _ ___ 119, 120 ___ _ ____ ____ ____ ____ ____ ll6 11 6 Registered ____________ 6 ---8 _ __________________________ _ ____ 102 102 ___ _____ 10&1 2 1031 2 ____ St P & Duluth 2d 1917--5 ____ _ __________________________ _ ____________________ 100 100 ____ 1st consol 1968 g _______ 4 ---- ____ ---• ___ 11512 J151 2 I I 7 117 __ _ _ _ _. __ . _ _ _ ______ _ ____ ll5 115 North Pac Terml 1st 1933 g_6 114 114 112 112 ____ Pacific Coast Co 1st g _____ 5 10112105 104341047s 103 104 102Ig 10312 1_04 10G34 10314105 104 104 1081210934 109 10!! 109 110 111 111 109 109 Pennsylvania RR_ ___ 103 103 _______________________________________________ _ 1st real estate 1923 g ____ 4 102 105 ____ ____ ____ ____ ---- ____________________________________________ 1101J J 1014 Consol gold 1919 ________ 5 ____ ____ ____ ____ ____ ____________ 101121011 2 ___________ _ ---- 106 106 ---- ---- ---- ---Consol 1943 g0Jd _________ 4 ---- ___ _ ---- ---- - --Consol 1948 g __________ .4 ____ __________ _____ __ __ ___ __ ____ 100 1013..i 1007310112 101as 10218 1025s 104 103 1043g ]041410512 ,10:i33104 103:iJ 105 93a4 97 955s 951 2 95;8 97 951 2 / 95 9473 961 2 94 95 93 9 12 99 98a 97,;6 981 4 963~ 99 10-yr conv 1912 g _____ 3 ½ 9114 9412 925s 94 94 9312 9312 95 9153 933,i 9114 921s 92 10-yr conv 1915 g _____ 3 ½ 88 9112 885s 9012 89 911s 9034 92 951!! 941.1 9512 95-'ls 9612 9412 9514 Pennsyl Co-gu 1st g __ -4 ½ 1023..i 10412 10234 10314 10234 1031 4 104 105 10458 10538 10473 10553 1037s 1043.1 10434 1051 4 ___ _ ---- 1057g 106 1061-110612 10614 10612 Gu coll tr ctfs B 1941- -3 ½ ____ ___ ... __ ___ _ 8614 8614 _ ___ ____ 8612 8612 _. _. _ _ _ _ 9212 941 4 ___ _ 91 ---- 8812 8812 ---- ---- 91 95 ___________ _ _ ___ 95 Tr Co ctfs gu 1916 g __ 3 ½ ________ 9212 9212 ____ ____ ____ 9 14 ---- ---- 9712 9712 9 97 97 _ ______________ _ Gu coll tr ctfs C 1942---3 ½ ____ ____ 8414 8414 ____ ____ ____ ____ ____ 734 8734 _. _ _ _. __ . _ _ _ _ ______ • ___ _ _ ___ 971 2 971 2 ___ _ ---- 96 9414 941 4 9212 921 2 ____ 9353 95 96 15-25-yr guar g 1931- ___ 4 90 9734 973J ---- ---- 1001210012 96 99 _ _ __ _ _ _ _ __ _ _ _ _ __ _ _ _ _ _ _ _ _ __ _ _ . __ _ ____ 99 ____ 90 90 Clcv & Pitts D 1950----3 ½ ____ ________ ---- ____ --- - ____________________ 106~.i 10634 ---Gr Rap & I ext 1st gu---4 ½ ________ ---- ---- ---_______________ _ _ _ _ _ _ - _ • ___ . I 07 107 Pitts Ft W & Ch 3d 1912 __ 7 ________ ---- ____ ____ ____ 1061210734 10 1410814 ___________ _ ---- 109 109 ---- ---- ---- ---- 10913 10912 PC C & St L gu A 1940-4 ½ 108 108 10 108 _ ________ ___ 1071210712 1011 4 1011 4 ___ _ ---- 109 109 ---- ---- ---Series B guar 1942---4 ½ ________ 108 108 ____ ____________________________ 99 99 . _ . _ _ __ . ___ .. ___ . ___ _ Series D guar 1945---4 ½ ____ _______________ _ ---- ---- ---- 9412 9412 98 91 91 ____ 90 90 Series E guar 1949---3 ½ ____ ____ ____ 95 95 98 ___ 112 112 ________ ll31211312 113 ll412 116 116 _ ____ 116121163-1 ___ _ ____ 109 109 5 ___ g 1932 1st C St L & P Pere MarQuetteFlint & P M 1920 g ______ 6 ___ _ ---- uo 110 110 110 ---- ---- ---- --- . 112 112 1st consol 1939 g _______ 5 ___ _ ---- 105 105 ---- -- -- 10412 105 --- Pt Huron DivlsL ______ 5 ___ _ ---- ---- ---- ---- ---- 106 106 ---- ------- 10()3410()341001210012 ---9614 961..i ---- ---- 9612 977g 9614 9712 96 ---- 96 Philippine RY-l"t s f_ ____ -4 -- -97 ---- 9612 9612 97 _ ___________ ---- ____ llO 110 ---- ____________ 114 ll4 _______________ _ Pitts Shenango & L E-lst g 5 ___ _ ---- 1091410914 ---5 1 Reading-gen 1997 g ____ -4 93 9712 931s 96 9334 951 4 95 4 1-~~1- -~~~ 1_~2_1= -~9-- ~f4 ~~12 -~~~8 98 4 ~~ s ~:34 -~-~4 -~~1~ l-~~~-11-~~Registered ____________ -4 !.11 91 9414 93 93 90 90 9 l? 9 1-, 98 !JS-1.J 9612 97 9 96 96 95 95 94 92 92 9314 94 9412 90 92 9313 9312 94 Jersey Cen coll 1951 g ___ .4 86 94 \1412 St Jos & Gd Isld-lst g __ -4 85 85 ---- ---- 82 8212 83 83 92 - 93 91~.j ---- ---- 92 8 87 87 5 ---- ---- 87 85 St Louis & San Francisco_______________ _ General 1931 gold -------6113 11434 113 11312 ________ 1141211412 _____ ____ ___ ____ 115 115 l 11~ General 1931 gold ______ _5 103 10514 1031210512 10412 10412 104 107 106 10712 107 10812 105 107 104 105 10412106 1081210 12 109 109 llF> _ ___________________ 9114 923..i8 ____ ____ ____ __ __ RR-Consol 1996 g ______ .4 90 90 ____ ____ ____ ____ ____ ____ ____ S W Div 194 7 g_ - - - - - . - 5 . ___ _ ___ ____ _ ___ ____ _ ___ __ __ ____ 100 100 - - - - - - - _ _ _ __ _ _. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ .. __ _ _ _ _ _ _ __ _ _ _ __ _ 79,3 ci8 7512 7412 77J8 751 2 80 7234 69 68 7412 6414 69 7412 68 727s 68l2 6934 6714 7014 69 69 Refunding 1951 g ____ -4 73 75 -------- _______________________________________ _ KCFtS&Mcons1928g - 6lll 114 ll4121141 2 113 113 ____ ________ 5 741 2 791 4 l!0 7234 76 683g 7112 7u14 75 70 68 73 745i 70 W 70 67 66-34 71 71 Refunding 1936 g ____ -4 68 7234 67 \15 ___ ____ _ 95 ________ 95 ____________________ 9::l Ozark & Cher C 1st gu g __ 5 ____________ ---· ____ ____ ____ ____ ____ 931 2 931 8 \12 911? 931? 92 92 931? 91 871? 891? 89 8712 8\J 8712 89 8512 90 87 8712 8934 85 St Louis South west-1st g.4 412 90 8212 80 81 777s 79 - 80 71 - 75 - 721? 761~ 761? 77 70 --- 70 67 65 70 2d inc bond ctfs g _____ -4 , 70 751 3 791 4 6812 681~ 7ti - 7312 7512 745s 7612 753-t 80 65 641s 681• 66 6014 597g 65 56 66 60 Conso l 1932 gold ______ -4 6112 67 97s 92 91 88 861? 8 614 8534 87 851? 84 2 6 - 84 7814 8214 82 O 78 83 8334 7 San Ant & Aran P-lst gu g 4 1 7 _::~i ~~:! -~~- Seaboard Air Line-1950 g.4 Coll tr refund 1911 g ___ _ 5 Carolina Cent 1st cons g __ 4 Ga & Ala 1st cons 1945 __ 5 Ga Car. & o 1st gu '29 g __ 5 50 ____ 55 45 4912 4312 4612 4 ____ ____ ___ _ 2 92 !.15 50 495s 54 861-t 861 4 5514 57(i 581? 601? 5812 59 _ _ -~~-~ \10 ---- 51 8712 35 5 ____ ____ ____ \1412 951t- ___________ _ ~5 66 60 60 55 55 - 56 90-34 9()3-1 _______________ _ 105 103 Southern Pacific C-O- Cent Pac coll 1949 g ____ .4 833-1 87 8-1 2-5=yr coll trust 1910--- ~4 ___ _ 9112 99 Cen Pac 1st ref gu g ____ _ 4 U4 95 82 Mtge guar g _________ 3 _H 80 83 Through St L 1st gu g_-4 ___ _ 88 Gal H & San Ant 1st g ____ Mex & Pac Div 1st g __ 5 10 1 107 Gila VG & N 1st gu ______ 5 ___ _ Hous E & W Tex 1st 1933 . !, 100 101 Hous & Tex Cen 1st 1937 _510914110 110 88 ___ _ General 1921 g _______ -4 88 Aus & N W 1st gu 1941- -5 ___________ _ organ's La & TexSS 1st- 7 ___________ _ Oregon & Cal 1st gu g ___ 5 ___________ _ So Pac Ariz gu 1st g '09-6 9812 981 2 ___ _ Guar 1st 1910 goJd _____ G ___ _ 6I---- 86 9112 B7 83 14 88 86 85 ---!l412 9(j 8312 85 88 -6 ____ 9612 9512 97 8512 86 8ti ---- 1)114 9014 ____________ 8512 8612 us 84 _• _9fi34 8412 ------- 512 _ _ _ _ . _ __ \1734 97 8514 8512 ---- 9013 8634 _ _. _ \1814 8512 9034 ____ 8612 8912 ____ ____ 951/l 97 8534 86 92:ig 95 10134 lOJJ.1 ---- 10112 1011 2 ---- ---- ---- ---- 105 ll01& ___ _ ---- 112 712 91 112 91 _ ___ _ _ _ _ 102 10:.::1~ _ _ _ _ _ ___ ---- 102121021:? 103 103 ---- ---- ---- ---- ---- 93 1091211()1; ==== ==== 9312 9312 ---93 ____ ____ ____ ____ 1211212112 ________ 103 103 _. _ _ _. _ .. ---- ----1011.110112 ---- ---- 1021410214 89 92 99 99 9734 9,5 ---- _ _ _ _ 9,J 951-1 --- - 9114 _ _ __ !J7Ig 87 9212 9134 9134 94 92 99 _ _ __ _ _ _ _ _ _ _ _ ~9,3g 977 !J75g 9 l1 89 88:i8 8112 88 94 ---- ---·· ---- ------- 1123..i 1123..i ___ • 10:i14 1G314 --- - 105 ---- 1221g l:12lg 107·\'! 107;; 101;; 1015 1021210213 ==== iii- 191f1~ =9=5== =9=Jii42 ln142 ; 9312 9312 93 u u ., 1 -~ 1• "0 1 1 2 _ ___ lU.llz 10912 _____ ______ _ - - - • ___ • - •• - __ __ 106 106 ___ _ ---- ---- ---- ---- 1021-110214 ---10314103 14 ---- So Pacific of California1st 1912 E & F--------6 ________________ 1341 2 10412 ________________ 1041210412 ________________ ---- _______ _ 104 104 ___________________________________________ _ So Pac New Mex 1st g ____ 6 ________ ________________ !J734 9734 9 12 981 2 ___________________________________________ _ Tex & N O cons g 1943 __ 5 9514 !l514 96 9li 953..i 9712 9212 9434 9412 \151 2 9513 953,1 9514 96 93 891 2 8858 901 2 8958 931 2 9114 9234 90 9134 88 88 Sou Pac RR 1st ref 1955_.4 8712 93 !J93s 102 101 103121011210734 107 109 107 11012· 99 10014 !l7 100 97 103 8873 97 8612 883-1 8212 93 Southern-1st 1994 g _____ 5 85 97 7212 7612 7,112 7812 73 70 Dev~lop & gen Ser A-----4 ________________________________ 75 7638 7312 7412 ___ _______ ____ __ 72 72 612 8!1 8712 8534 86 84 84 8.S:l-t 83 8212 8314 ___ _____ 83 77 ________ 7512 751 2 751 2 751 2 7934 82 Mobile & 0 coll tr g _____ .4 75 ____ 101 101 103 107 _______ _ 107 107 ___ ____ _ 99 ________ 103 103 _ ___ 96 Memphis Div 1st g_-4 ½-5 100 10212 ____ 88 831s 8434 85 84 4 80 7934 80 79 82 82 7434 801 2 82 St Louis Div 1st g ______ .4 72 76 ________ 70 101 2 69 __________ ___ ______ _ _ ___ 108 108 Ala Cent 1st 1918 J"------6 ____ !.ICP-1 !H 88 ____________ 87 ____ ____ ____ ____ Atl & Daov 1st 1948 g ____ 4 ____ ET Va & Ga ___ _ ____ 109 109 ________________________ 1001 100 ______________ _____ _ ____ 5 Divisional 1930 gold ____ 2 1041210512 105 lO:-Sl2 10 12 llu 10912 ltl93-t 10912109:'S 11014 llll2ll212113 Cons 1st 1956 g ______ _5 105 1051g 105 105 102 1043-1 10414 lOS5s 1041210 ____ 1041210412 99 ________ 991s 1021 2 105 105 10212 10212 104 104 98 97 ____ 97 E Tenn reorg lien g ______ 5 ____ 6712 68 ____________________ 62 62 ____ ____ ____ ____ Georgia Midland 1st 1946-3 ____ *!o~;,ctc J\\l9~M-g==: rn~ i86 Mobile & Birm 1945 g ___ -4 ___ _ Rich & Danv cons g _____ 5 107 107 106 ---- 1091210912 ---- 107 ________ 103 103 92 9 ====_ ---- ---fJ4s-ii::: ___ RPchb&nM!~1l'fs\ So Car & Ga 1st g _______ 5 Va-Mi d-Ser B 1916 ______ 6 Series F 1931_ __ _______ 5 Oenerru 1936 __________ 5 Stamped gua,raateed--5 1 Te':i!f~~s~ ---____ ____ ---- il L~~is~1~f4J ==== ____ u512 \1534 975g !J75s ___ _ T~1fntr!a~gAi--;~1sJ_~=== J https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ~~~102 9512 84 7634 80 67 i8~ i8~ ____ 103 ____ ____ ~1_2_1~ 10334 98 89 8112 80 7J iit ==== ==== 102· l<J5-- :::: == == ii-- 118 1_1_0~:t~- 1_1_1__ m12 82 ___ _ 82 78 78 _ ___ 10il210712 108 10834 109121091~ ___ _ ----1-___ _. __ =--===.!==== =---==-· :~~: :7:~: =~i= =9=i= ==-=-= ____________ 10112 1011~ ___________________ _ ___ __ ______ _____ 104121041~ 10512 10512 _ __ • 10214105· 103 1011 2 1021 8 ____ ________ ---- 1105 105121051410514 21 . _ ___ 113121131? ________ ____ ____ ____ ____ 9712 _ ___ 9:<12 \1312 !.1412 0412 _______ _________ I ____ ---~ 97 10534 10434 1_1_0_1~ ~~~4 ~1_:1_1~ ~~~~~~- 1-~~1= 1021210212 ___________________________ _ 97 ________ 9714 9714 ___ _ ________ 97 ___________________________ _ 80 801? 81 8212 - - - 83 18212 8234 82 87 8(.i 83 8.'.i 8312 831~ 82 ~~1 2 1212 ·10 71 70 72 lJ9 72 70 -==- llO 92 ---____ 107 1st cons 1944 g _________ 5 10914 111 1101s 1103-1 ____ Gen refund 1953 g _____ -4 9012 9012 9214 9214 ____ Toledo & Ohio Cent-1st g _5 General 1935 gold _______ 5 Kan & Mich gu g _______ -4 Toi Peoria & West-1st g_-4 Tol St L& W-Prior lien--S ½ 50-year 1950 gold-------4 ==== ____ 107 1---- ____ ===i~~~ 0 .~!= ==== 10812 10 121_1_0__ ~~~- 1_1_0_1~1~~~- 11034 113 _ ___ 10\'121091~ ___ _ _____________ __ _ 1051 2 1051!! ______ _ _ ________ 10534 1053"4 ==== ==== ==== ll53 1153J 1_~6~~ lgs i8\ 11o1 2 11612 4 9712 971!! 9734 9734 ~~~- ------- ---- 104 1_1_~_ 1~r21~: - --- --- - ]04 8812 8812 9012 9012 88 ---- ---- ---- 8712 8712' 88 85 8414 851~ 8412 85 85183 85 83 0 ---8712 88 !Jl 8912 91 1~1 2 7814 7512 765~ 76 -i4-- -1ii2 ·i5·1; ~~18 ~~ 7\llg --94-- -- -- 94 88 88 9112 9212 79 13 8414 \J 106 RAILROAD A D MISCELLA EOUS BO ... TDS. 1908-~ontinued. Novembe:r December Ocl.ober September Auqu::· July June May April March January February BONDS h Low Htuh Low Ht,uh Low Hi(Jh Low Hf,gh Low Htuh Low Htuh Low P i(Jh Low Htgh Low Htuh Low Htuh Low Htuh __H_~u_ _ _ _ _ _ _ _ _ _ _ _ __,_i_ow Ulster & Di:l-1st con fl---~ 1~t refunding 1952 g ______ Umon. Pac-RR & l g 1947 -4 Reg1stered -- -:----------4 1st & reHwhen 1ss) 2008--4 20-yr conv 1927 ________ 4 «; Nav con g_-4 Oregon RR Oregon Sb Lme 1st fl----6 1st cons 1946 g ______ __ 5 Ouar ref 1929 g _______ -4 v!:.~~i: 105 ~ ________ 4 4 _____________ 81 __________ _____________________________________ ___ _________________ 104 104 ________ 103 105 991s 10112 9914 10014 9912 101 99 102 99 99 98 9812 9912 1001410014 98 877s 9634 12034 110 897s ===: ===: 9!:I 99 1051410934 94 90 Deb _1939 ~ mcome ----6 44 45 1st hen equip 1921 g _____ 5 100 100 1st & ref1;1nd 1956 g ____ -4 43 4712 Det & Chic Ext 1941 g ___ 5 ---- :O~s 1f:3li== ==== : Va & Southwest-1st 2003 - 5 Wabash-1st 1939 g ______ 5 2d 1939 g?,ld,,-.- --------- 5 Omaha Div 1st 1941 g--3½ ____ Toi & Chic Div 1st 1941 g-4. ____ Wab-Pitts Terml-lst g __ -4 45 56 Trust Co certificates- ------ ____ ____ ------4 Ills 19 1954--.-;--gold Co 2dTrust certtf1cates_____ ____ ____ Wash Term-1st gu 1945-3 ½ ___ _ ____ West Maryland-1st g ____ -4 6312 66 Gen & conv 1952 g _____ -4 40 47 Trust Co certificates----- ---- ____ W Va Cent & Pitts 1st g __ ---- ____ West NY & Pa-1st 1937 g.510812 111 General 1943 g _________ -4 871s 8734 Wheel & LE-1st 1926 g __ 5 103 107 Wheel Div 1st 1928 g ___ . 5 ________ Ext & impt 1930 gold--- -- 5 ________ 1st cons 1949 g __________ 4 71 7212 20-yr equip 1922 g _______ 5 9814 9814 Wisconsin Cent-1st gen -- -4 8034 85 88 84 943s 96 116 11812 11014 Illig 89 87 83 94 117 Ill 86 86J4 94¾ 11812 11112 8912 8814 84 96 95 118 11912 Ill 1121s 8878 897s ===: ==== ::== ==== ==== ==== ________________________ 102 108 1021410534 105 1081 4 921s 87 8412 87 8712 91 4414 49 47 37 3814 40 102 102 ____ ____ ____ ____ 4312 4934 3712 46 44 38 ____ 100 100 427s 453~ ---10 12 44 45 44 4714 834 12 10 1112 41 ____ ____ ____ ____ 6212 49 55 30 3934 42 ------- 66 34 67 66 3312 35 ==== ==== 1011 2 110 1031 2 105-34 931 2 92 56 50 ____ 5834 48 ____ 511 2 42 79 40 493s 934 ll¾ 934 I 12 65 35 ==== ________ 10312105 8934 9212 ____ __ __ ____ 56 52 ____ __ _____ _ ____ ____ ____ ____ ____ 70 65 ________ ---- ____ 1103411034 ________ 1141 2 1141 2 ____ ---____ 100 102 102 102 102 102 ------- ____ 103 103 ________________________ ____ ____ ____ ____ ____ ---71 71 ---8012 83 60 631 4 62 63 80 825g 80 83 631 2 69 2 86 6612 69 85 86 107 109 109 81 ___ _ 1021 8 103 10258 10334 iii:'ii8 1-os10118 1011 11 10134 102 102 1021 967 9g1 2 951 96'>s 953 97 8 8 8 971 2 10334 10234 10534 1041 2 1os18 4 99 100 10038 10114 9858 9938 1201 8 121 121 1211.1 12118 1211 2 ll3 1143~ 11514 l16l2 l16l4 l18l4 941 2 95 941 4 9418 941 2 97 ---- 1011210112 ---- ---- -98==== 108- 1-081; ______ __ ==== ==== 110 110 10312108 109 1091 2 109 1101 2 10914 111 1085s Ill 10912 ll4 991 105 951 951 100 95 96 9314 9512 96 8814 96 so 4 90 ____________2 62 2 62 62 60 _ ___________________ 100 100 ____ ____ ____ 6034 5718 601 2 591 2 651 2 641 8 77¾ 57 62 57 5112 58 1051 1101 ---- so 2 80 2 ____ 83 83 91 90 511 56 55 50 51 47 52 4934 4912 5578 46 43 51 2 551 ____ 50 54 ________________________ 4 ll l:! 1034 1434 1414 97s 107s 712 101s 8 934 131g 9 131 141 ____ ____ ____ ____ ____ ___ _ ____ ____ 2 2 901 901 ____________ _______ _ 2 2 781 2 g4a8 7712 741 2 7834 771 2 ~so 74 111 2 75 70 .74 65 5:tl~ 51 44 42 42 401 8 43 911 411 2 45 91 65 ____ 54 43 43 ____2 41 41 ________ ____________________________ 105 105 _ ___ 114 114 114 116~ _______________ _ 8 96 953 06 ____ 931 2 931 2 95 4 ____ 105 106 1011 2 1011 2 _ __________________ _ 95 ____ 95 ____________________ 1051 1051 ____ 2 2 801 2 g31 2 t{21 2 8334 so so 7-1 74 76 75 71 67 99 95 ____________________ 8934 ss18 9214 841 4 8634 86 851 4 841 2 88 8012 331 2 83 100 102 10112 10234 10012 102 991 4 991 4 1001210012 991210134 9518 897s 943,i 9134 9012 92 87 97 9612 971 2 9512 961 8 96 121 122 ________ 120 120 113 11414 113 1141s 111 113 91 901s 89 89 891 2 93 ---- ____ ---- ____________________________ 951s 955s 95 84 91 115 106 8512 1073 1073 ___ _____ 107 10412105 103 101s8 103 102 103 ________________ 953 95 9458 97 4 9418 99 9378 99 99 98 9634 9 1181 2 12014 117 11 lll llll11 114 11412 95 94 94 91 -ii- ---- ---- STREET RAILWAY. 99 102 101 1011 2 98 10114 100 101 10134 1021 2 99 100 99 100 :Brooklyn Rap Tr-1945 g ___ 5 91 9834 94 9712 951., 97 9512 97 100 100 73a8 723s 7ti3s 7234 77a8 7334 7478 741 4 791 2 7858 861 4 673s 7334 6814 7134 6934 73.1t. 711 2 741 2 7112 731a 71 1st refund conv 2002 g ____ 4 6512 75 ____ 10.:l 1031 8 1031 2 104 Brooklyn City 1st cons __ 5 -- -- ____ -- -- ---- ---- ---- 997s 100 102 102 ---- ---- __ __ ____ ---91 ____ ___________ _ 91 B Queens Co& Sub gu g __ 5 ---- ---- ---- ---- ---- ---- ---- ____________ 921g 921s ________________ 90 92 99 10112 99 10012 9934 10:.t 1011 8 103 99 101 9934 102 Bklyn-Un El 1st g ____ _4. 5 951210114 94 9712 9312 G7 96 IOU 971 2 10114 97 100 ____ 98 98 ________ ---- ____ 99341021 2 ________________ 100 100 1001 2 10010 ______ __ Stamped guar ______ -4. 5 ____ ____ 11 2 811 2 ---- ____________________ 8114 811 4 _______________________ _ Kings Co El 1st g ______ -4 ____ 8434 86t 2 6 83 8112 83 83 80"s 81-'ls 8 1 807s so1 2 83 8114 801 2 8134 80 7 Stamped guar _________ 4 77 8212 7712 8012 79 80 82 79 80 761 4 7514 7712 78 75 75 761 2 75 77 ________ 7612 781 2 771 2 80 ---- ____ 75 77 Nassau Elec gu g ____ ___ -4 75 78 _ ______________ _ <Conn RY & Ltg-1st fl-- -' ½ ____ ____ ---- ____ 95 95 ____ 96 ________ 1001 2 1001~ ___ _ _ ___________ 96 Stamped guar ____ __ __ -4 ;~ ---- ____ ---- ____ 9312 95 ____ 83 70 ___ . ____ so 10 till ____________________ 69 Det United-1st con '32 g-4 ½ ______ __ ---- ____ ---86 ___________ _ _ ___ 86 ____ ____ ____ ____ 11avana Electric-cons g _ .5 94 94 ---- ____ ____ ti71 4 6534 751 2 7434 825s 65t 2 671 2 60-14 697s 661 8 6978 65 Jnterboro-Met-colL __ __ -4 ½ 5714 63311 497s 613a 55 6012 56 677s 6358 681 8 641s 68 ----100 10012100 10012aOOls1UOl2aOOl410ll2al011017sa007sl0112al01102 10:! 104 lnterboroRT3-yrconv19116 ---- ---- ---- --·- ---c;v1 2 70 6112 ________ 62 • 62 ---- ____________ 6.514 6512 6412 641 2 6Jl2 631 2 !i41 2 68 60 lntemat Tract-coll tr ___ -4 6312 65 61 61 99,1 9g1 2 991 2 99 9712 9912 9712 93 9612 us 'd7 961 2 9534 9612 96 9234 95 9434 92 94 9412 96 .Manhattan Ry-cons g ____ 4 921s 98 Stamped tax exempt ____ -4. ___ _____ ---- --·- ---- ---- ---- ____________ ---- ____ 9634 98 9734 9!:112 991s 10014 977s 100 100 100.;s 1001 8 1ooa4 l\\etropol Elev 1st g ______ 6 9934101 100341013s 1011410134 1013410238 1023s 10234 102341027s ___________________ _ s21., 78 -8i- -18- -iSl; -131 -ii$i; -32;i °i9-8•J 81 813J 77 78 80 78 741s 84 7ti 8212 70 68 .Metropol St-1997 g _______ 5 85 85 ____ 8112 82 - 78 8u 7612 1s1 2 81148 82 · 841?4 89 ____ ____ ____ ____ ____ ____ Trust Co certificates---- --- ____ ____ ---_____ 51 48 48 50 50 52 50 56 4214 50 40 49 43 Refunding 2002 g _______ -4 47 47 60 - ti81z 60 52i>g 525& 55 51 U9 ____ 100 100 100 101 99 102 ____ 93 100 Bway & 7th Av 1st g _____ 5 100 100 9912 9912 9734105 9H12 98 100 94 9ti 96 99 95 99 9514 ---95 95 !:I 98 _ ___ 9838 ---5 97 ____ g 97 gu 94 1st 95 95 95 Col & 9th Av 98 ______ __ 96 ____ 97 96 96 Lex Av & Pav F 1st gu g _5 ---- ____ ---9ti 100 102 95 96 !J6 96 62 64 5514 60 5712 54 52 57 56 63 5134 52 5114 5334 51 75 6312 5814 6610 65 60 64 3d Av 1st gu 2000 g ______ 4 4912 55 _ ______________ _ 4814 501g ____ Cent Tr Co certfs _______ 51 523s 50 52 66 ~ 6412 7314 64 5!:I M:2 63 56 52 591 2 5Fs 52 56 ____ ---- ---- 50 62 do do stamped__ __ ____ 6412 73 66 58 63 6312 58 1st gold 1937 __________ 5 lO J 1031g 102 1031s 101 104 10312106 ---- ---- 106 106 1031~10534 10614IOUl4 ---- ---- 106 1061210712108 10818 111 _ ___ 9714 !:171.i 9714 971 4 ---Portland Ry-1st & ref- ___ 5 ____ ---- ---- --- - ---St Jos Ry L H & P-lsf- ___ 5 --- ---- 9:! 98 ---- ==== Underground Electric of London-profit sharing ______ f -- ----- 37 ---- 4112 411~ ·- - 40 ---1938 _ ---- -- -- -- -- -- _ -4 ½ Income 1948 ___ ________ - 6 Union El tChic)-1st g _ ____ 5 United Rys St Louis-1st 11:-4 St L Trans gu imp ________ 5 _--- --- ________ ---- ____ 1007s 1007b ________ LOl 101 8212 8212 7812 80 85 7812 79 76 7734 79 _______ ___________ __ 84 84 ____ ti414 661 4 6534 7358 68 ti5 United RRs San Fran _____ -4 59 6812 66 67 GAS AND ELECTRIC. Bk!yn Union Gas-1st _____ f Convert deben 1909 ______ 1; Buffalo Gas-1st g _______ _5 Consolidated Gas ( Y)Convert deben 1909 ______ 6 Detroit City Gas-1923 g ___ s ~~:~~tb~ao;;'c 1 Nv?-~~ ~-~=i 0 9212 99 ---- 98 91112 98 102 101 5l:S 5.:1 55 55 1057g 104 1171 2 113 951s 9512 96 95 124 07 1021:, lOO ---- ---- 5512 5l:S 58 103 1081 2 103 9312 9412 95 tiOl2 ==== ==== ==== ==== ·oti- -96-- ==== ==== 79 79 79 ________ 79 108 1091 2 10812116 1131 2 1181 2 ____ 1011210112 Oeneral Elect-deben g __ 3 ½ 80 80 10-yr deben 1917 g ______ 51061 2 10934 Hudson lA>. Gas-1st g ____ 5 ____ Kings County Elec L & PowPurchase money 1997 ____ 6 107 107 Ed El II\ <Bklyn) 1sL----4 . ___ La-::lede Gas-1st 1919 g ___ 5 99 10034 Ref & ext 1st 1934 g _____ 5 __ __ Milwaukee Gas Light-1sL - 4 ---N Y Oas El Lt Heat & p ___ 5 88 931., Purch money coll tr g ____ 4 75 82 Ed El 1111st 1910 g ______ 5 ---1st cons 1995 gold ______ 5 ---- ________ 104 ____ 83 101 102 101 106 83 102 l03 54 121141301 2 123 98 97 97 Refunding 1947 g ________ 5 ChicOL&Coke1st- ___ __ fi Consumers Oas 1st_ _____ 5 Mutual Fuel Gas 1sL--- - 5 Union El Lt & Pow-1sL--5 Westchester Llght-1950 ___ [ MANUFACTURI O AND INDUSTRIAL Allis-Chalmen:-1st 1936 ___ 6 Am Agric Chem-1st cons--5 Amer Cotton Oil-deben--4 ½ Amer Hide & Leath-1sL- - 6 Amer Ice Securities-deb- __ 6 Amer Spirits Mfg-1st-----6 Amer Thread-lsL ______ _-4 Amer Tobacco--40-year ____ 6 Registered ____ _________ 6 Oold 195i_ __ ___________ _4 Registered ____________ 4 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 94 98 ---92 96 95 98 99 96 1121a 1121 8 ___ _ ____ 97 9718 99 10012 ________ ---9412100 ___ _ ___ _ 69 1061a 107 108 1121 2 1121 2 _____ ___ 103 104 ---- ---- ---90 88 80 76 6112 60 100 100 84 84 100 10312 ________ 6614 62 ________ 63 63 9214 86 7512 80 65 62 97 91 83 83 9634105 961210112 6012 6914 9112 90 O 80 5812 63 97 97 84 84 101 1061s 1005sl02t2 6 62 665s 665s 9012 9134 9134 !:1212 8012 82 81 0 1018 67 70 62 ____________ 86 86 86 5 10234106 1047s 1065s ________ 105 10614 725s 7lts 725s 67 7214 ·;-And-i~t e~!t. 72 2 l12 ---82 1 112 73 2112 23 ---- -- -· 8234 83 Si! l:SO 6!:I 7u 101s 7234 7034 731 4 7234 75 7U 1063.1 106 139 135 5u 56 104 107 105 1253..113712 130 56 5ti3s 5i 107 135 57 105 130 73 7312 :.!2 ---8434 7514 1051? 10514 10512 150 1467g 14912 63 ____ ti3 1273~ 125 141 135 14812 13814154¾ 140 14812 14578 16834 163 169t 2 98 ---- ---- !:1912 9912 IOU_ 100_ IUOl210034 1102 l;J214 10234103 ---- ____ 110 11112 !JO 834 l:Si:!:J,1 90 102 10214 10:!12 103 --- - ---- ---- ------- ---- - --- ---1,714 lUOl4 U712 99 137 8234 s1 81 101 101 102 102 108 108 _ ___ 115 115 102111102,8 1037s 1037s !)7 97 ---- ==== ==== ________ 124121271s ---- ____ ====c= 110 111 101 10:.l 101 101 ---- ---1003s 102 8514 4 10214 10312 89 89 ==== ==== -~~: _!:I_~~===== 84 831 4 84 212 83 1 83 83 83 123 12678 124 127 12534 136 134 141 ________ ---- _______________ _ 111 Ill _ ___ _ ___ 1011:? H'll2 ---- ---89!2 90 101 l(J134 8414 88 JOO lllO ____ _ ___ -··· ----1031210312 110 110 88 _ . _ _ _ _ _ _ _ . __ 88 102 102 1013s I V~ 102 10212 ---- ---- 100¾ 10034 -- -95 -- - - --· · --- - - - -IJ5 101 10212 1021:? 104 10112 10212 8612 85 86 I 8514 87 85 10073 10112 101 10112 10112 10112 HJ712107l2 1081211212 112 112 !:15 _ _ _ _ 95 _ __ . --- ---- 99 100 100 1.)014 ___________________________ _____ 1027s 102, 8 1031s 10314 101141011 4 10214 1023..1 __________________ ______ 10:~:,s 104 --- - ---- 10014 10014 101 1021g 10234103 ------- ---- 100 100 ---- !:1Fl4 93 90 88 72 70 ____ ____ 105 1077s 105 107 1214 763..1 75 75 119 1201 2 104 1041 2 1051210534 102 102 7914 791s 845s 8214 86 U63s u1:is !:145s 9414 97 927s 951 2 9514 96 9334 94 961 2 100 97 9234 93 91 78 69 7012 75 71 69 _ __________________ _ __ ____ __ ________ Q21 2 921 2 107121095Ei 105 110 1061 2 10912 101-110 14 10614 10~1 2 _______ _ 73¾ 793 7512 791 2 755& 80 733.i 7 12/ 7512 7614 _______ _ ____ ---- ____________________ 94 \HJ..1 \/212 90 85 70 68 ---Stitz Su 1041210534 105 1os;14 715s 1212 ________ u s 118 10314 1033..1 105 105 --- - - - -101 101 ---- ---- ---- ____ ---- ____ ---- ____ -- -- ____________ _____ ___ ________ 78 ____ - --- ____ ---- 7 Jl2 2:212 84 791 2 _ -- _ 82 ---- 10114104 ---- 7U 20 ---- 84 l:SOl;i 7914 8 1011 2 101 ___ _____ 97141001 8 101 101 95 95 ---- ==== ==== ==== ==== ==== ===~ 79 79 79 ________ 79 1111 2 122 11712119 11834 129 ________________ 102 102 NY & Qu EL & P-1st ____ 5 ---NY & Richmond Gas-1st -5 ---People's Gas L & Cokel st cons 1943 g __________ 510712 10712 111 111 ____ 103 10234 10314 10234 104 ---- ---- ---- 119 129 56 5til2 5612 56 54 10114 ---------------- ---- ---- --9712 102 923s 98 94 90 96 94 7612 797g 7814 8112 77 751s 791 2 75 99 1001..110014 ____ 9 12 987s 99 ____ 101 ___ _ 82 82 - --- ~23-1 931:., 9J34 94 8814 90 891~ 90 7312 72 70 ~ 73 ____ ____ ____ t..1 8 14 ____ ____ 1073s 10914 10 :14 1u1~ ______ __________ 745s 7:!~s 75 73 75 73Js 733g 75 MISCELLANEOUS BONDS-RAILROAD STOCKS. 107 1908-Concluded. J anuary February March April May June July August September Octoier Nov :mber D .;cember Low Ht (Jh Low Hi?h Low Ht(Jh Low Htuh Low Ht(Jh Low Htoh Low Htgh Low High Low H igh Low Hi(Jh L-OW H i(Jh Low Hi(Jh BO NDS -------------1------------------------------------------------Bethlehem Steel-1926 ____ 5 ________________________________ 95 95 ________ ___ __ ___ 85 85 83 84 85 85 85 853 85 8714 Central Leather-20-year __ _5 ·Consol Tobacco-50ayear-- -4 Corn Products Refg-s f_ ___ 5 Distillers Securities-conv--5 Illinois Steel-1910 ________ 5 International Paper-1st-_ -6 Consol conv sf- _________ 5 Internat Steam Pump--deb 6 Lackawanna Steel-1st con 5 NY Air Brake-Conv ______ 6 iRei,ublic Iron & Steel-lst--5 US Leather-deben------- 6 'U S Realty & Imp- deb ---- 5 U S Steel-sf 10- 60-yr _____ 5 8512 93 90 921g 897g 94 91 94 9312 9512 63 68 62 6212 6634 6634 6834 7212 715s 72 70 76 77 771s 7812 7812 80 87 ________ 66 75 64 72 67 74 6912 7214 71 7434 ____ _ ___ ---- ______ __ ____ 94 94 102 105 102 103 10214 10214 101 10212 102 10212 8434 86 8412 8412 80 8112 79 81 80 8114 90 9212 ________ 90 947s 90 9314 93 931s 84 85 85 89 8514 8514 90 90 90 91 ____ ____ ____ ____ ____ ____ ____ 91 9414 ________________________________ 9212 985s 101 101 103 1031s 105 106 ________ 105 107 6512 70 6412 69 65 7014 67 73 71 81 851 2 891s 867s 8858 8734 951 8 93¾ 971 2 941 2 961 2 8534 8912 867s 8834 877s 9514 9234 953s 9414 9658 89 89 ________ 9412 941 2 ________________ Registered _____________ 5 ·va-Carolina Chemical-____ 5 1st 15-year 1923 _________ 5 ____ ·westing El & Mfg-conV---5 70 75 COAL AND IRON .Buff & SusQ lron-1932--- -5 Debenture 1925 __________ 5 ,Col Fuel & 1-s f 1943 ______ 5 Convert deben 1911------5 Colorado IndustrialFirst & coll trust 1934 __ 5 Tenn Coal , I & RR-Oen---- 5 Birmingham Division- - ---6 Tennessee Division ------ 6 Cahaba Co11I 1st guar-----6 De Bard C & I lnl- ___ .. _ 6 Va Iron Coal & Coke-lst---5 TELEGRAPH Am Teleph & Tel coll tr ___ -4 Convertible 1936 gold ____ -4 Installment rcts for conv--4 ,Commercial Cable 1st g ___ -4 Mich State Te\epb lst- _____ 5 'West Union Teleg-1938 --- 5 Fund & real est 1950 g_ -4 ½ Conv 1936 series A------4 Mutual Un sf 1911- ------ 6 MISCELLANEOUS .Adams Express-Coll tr ___ -4 Chic June & Union Sy _____ 5 Detroit M & M L O-lncomeInst for Encouragement of Irr Wks & Devel of Agric- -4 ½ lnternat Mere Marine----'½ Internat Navigation-lst---5 Newp News Ship & D D---- 5 ,New York Dock-50 year---4 Provident Loan SocietY - --4½ US Reduction & Refining--6 ____ ____ ____ ____ 67 67 73 75 7312 8014 77 81 94 95 95 98 7112 72 7112 7614 8214 85 88 88 71 73 72 7434 - --- ____________ 10112 102 102 106 80 81 78 80 94 96 9212 95 90 9012 901g 9112 87 93 8912 9514 9312 95 94 95 ________ 105 1051s 79 81 77 80 96 965s 965s 100 9534 967s 97 100 1001410014 _____ ___ 79 9334 96 96 9712 9614 98 7312 775~ 76~s 781,i 78 793s 93 95:,8 92 95 95 95 68 70 6912 78 74 80 ---- ______ ____ __ _______ _ 101 10212 9914 104 10534 105-14 82 8212 82 8534 8434 90 98 9934 991410012 100 103 9314 9412 9612 98 9634 98 9714lOal41003gll4 110 115 9514 9514 9634 97 9812100 1061210612105 106 105 10512 80 8514 8412 8734 86 891s 10134 103:lg 10012 1031s 1021s 10318 99¾ 10214 100¾; 103 1021s 103 1041210514 10514 10512 ___ _ __________ ______ ___ __ _____________ __ 95 9514 94 95 8312 7912 88 8312 8412 80 86 8414 8834 8814 9414 91 945g ---- ---- ---- ---- - --- - --- ---- ---- 92 98 95 9512 963g !J85g 967s 9678 - - -- ---- ---- ---- ---- --- - 9414 961s 943g 9412 ----82 82 7912 7912 80 ---- ____ ---- ---- 56 45 51 8212 89 99 102 100 1017s 3834 45 8814 89 10212104 103 1031? 40 86 103 103 - -- - ---- ---- ___ : 103 100 100 - - - 81 8712 83 86 80 801s 82 82 8234 83 65 --- - ---- ---- 5212 90 104 104 103 85 5138 581 2 901 2 94 104 106 ---- ---102 102 -- __ 83 87 7512 7512 ________________ 81 ________________ -- -- ____ ____ 81 58 63 97 97;;8 107 107 1053410534 ---101 101 86 8812 70 70 9214 94 88 767g 9212 85 85 75 ---83 100 9014 88 100 ---- ------63 75 ---85 9212 89 86 77 1s 6512 6334 6414 637s 72 76 7734 7734 7512 80 86 87 ---____ 89 87 ---- 78 !l. 85 87 82 8614 ___ _____ --- - ---- 893s 8712 8914 8612 8812 8712 887s 88 4212 47 75 9&5 8 8412 8634 79 --- - 95:, 8 8412 89 83 ---- 883s 8734 92 84 88 90 77 1212 68 971s 9912 ________ 106 106 ---- ---- -- _ -- .. 9312 97 ------ - ------1212 99 108 ------95 9518 99 94 95 ---95 96 75 74 75 743.1 77 100 9912 100 1001R 10312 108 1071210912108 110 ---- 106 10712 107 107 -- - - 108 108 ---- ----- __ 10112 10:{ 102 10314 10012 9[i 98 96 !17 - --747s 7612 104 10514 1091gl091s --- ------96 9712 991 991 ______ _ _ 8 3 87 9334 93 96 9512 97 98 100 8734 907g 9112 9212 90 915F 9112 97 8212 85 8434 86 84 86's 8414 8612 - ------ ---- ---- ________________________ 8514 88 75 100 90 8812 8212 100 9212 96 68 84 ---- 96 ---- 90 ____ ---- 85 85 90 75 !l3 941s 92 94 92 ---6!ll2 ------92 ---6234 --- ---91 92 90 ---- 9214 93 6634 63111 71 ---- 8434 85 ---93 93 93 ---90 90 90 ---- ---- ---- 6712 6914 6834 7114 6812 7012 681s 70 80 80 82 82 ________ 84 86 8712 88 85 --851s 8012 861s 86 8814 875s 8812 88 90 90 8414 86 847g 897s 8912 943s 91 ___ _ 8412 84 85 85 85 84 84 8312 85 1 8534 83 751 2 81 76 78 78 76 ---- -- -- ---- ---- ---- ---- -- -- ---- 85 75 6012 63 62 6934 97 971 2 9514 97Iz 107341083410612107 106 106 - - -- ------_-- --· _ 87 88 90 94 ---- ---- ---- ---- ---- -- - - ------- ---- ---- ---- 8534 85=J4 --- 9214 88 88 76 4 9612 9712 97 98 73 74 74 7412 85 89 91 91 735s 7512 6712 7412 ---- ____ ---- ____ 10212 103 1021210212 7912 8412 82 84 9512 97 97 9734 92 9/i 94 9412 95 99 9612 . 9934 9512 9512 9712 9712 ________________ 80 80 791s 80 9934 1011 2 101 102111 995s 101 1007s 10214 1007s 10214 ___ ___ __ --- - 85 ---- - --69 85 96 90 ---6712 --- ---9012 ---- 89 921~ 6834 84 --- 9212 95 --- - 9234 7714 89 ---9234 9512 ---- And int.e rest . PRICES FOR STOOKS AT THE NEW YORK STOCK EXCHANGE. EMBRACING THE YEARS FROM 1904 TO 1908 INCLUSIVE. 1904. JANUARY IFEBR.RY. ) ~TOCKS. ___________ MA.RCH, APRIJ.. MAY. JUNE. JULY. AUGUST. SJI:PT'BER. OCTOBER. NOV'BER. DEC'BER. L __ ow_.H_lll_h Low.High Low.High Low.High Low.High Low.Hlllh Low.High Low.HlfCh Low.HbthLow.HlghLow.Hlllh Low.Hll?h 1 RAILROADS • .A.lbany & Su11quehan ... . ... - .... . .. - . .. . . .. - ... . .... - . .. . ... - ........ - ... ..... - . . . . . . . - .... . ... - ... . .... - . . . . ... - ... 2Stl -236 ..Alleah. & West., a-uar . .... - ........ - .... 150 -150 ..•. - ........ - ........ - •• •.•.• - •.•... •. - •.•. . . • - •.• . .••• _ .....••• _ •.... •• _ •.•• Ann Arbor........ ... ....... 27 - 27 ..•. • ....... . - ..•. .•.• - •.. .. ••• - ••••..•• - • • . 25 - 26 28 - 28 28 - 80 SO - 82 84 - Si Sl - 32 Pref........................ 52M · 52!J( 54 - M 68 - 53 52 - 62 • ••• - • • • • 4.9M- 49~ 63 - 59 67 - 68 64 - 6! 59 - 64 64 - 66 64. - 64 AtchlllOn Top. & S. Fe .. 66%- 7~ 64 - 70¾ 64 - 73~ 71¼- 75!,d 6~- 72~ 68¾- 78~ 72',(- 79¼ 76%- 82~ 80 - 84 82¾- 88~ 84%· &9~ 82 - 89~ Pref ........................ 87%- 92!J( 88 - 91~ 88¼- 92 91~- 94'.U 913'- 93 92¾- 96~ 93M- 98 963,r W~ 97¾-101~ 100 -102~ 101 -104l,1100¾-103ff A.tlan. Coa■ t Line RR. 108¼-ll~ 104¾-110~ 107 -107 109 -109 . ..• - ..• . 108¾-108¾ 112¾-121 117ff-121 121 -138.¼ lM -141!,d lS{: -155~ 123 -165~ Baltimore & Ohio ....... 76¾- 85¼ 7S¾- 84 72¾- 81¾ 783,r 82 7~- 79¾ 77¾- 81 79¼- 85¼ 83¼- 87½ 86%- 90¾ 89:J.(- 95¾ 92~- 08¾ 94M-105~ i Pref . ....... . . . . . . ... . . . . . . 89 - 92 87¾- 92 88 - 89¼ 90 - 91 00¾- 91~ 91¾- 91!'4 92¾- 95 91 - 91 93¾- 9,i}i 98 - 96¼ 94 - 95½ 95 - 96 Baff. Roch. & Pltt11b . ... 127 -127 120-a121¾ 118¾-121 122 -122. .••• - .•.. . ... - .•. . 180 -180 127 -181 130 -152 152 -160 158 -16~ . •.. - ...• Pref........ . . . . . . . . . . . . . . . . . . . . - . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . . . - .... 186¾-135~ . . • . - • • • . . • • • - • • . . . . . • - ••• . 165 -165 . . . . - .... 160 -160, Rla-hts . . .. . . . . . . . . . . . .. . . . 1 - 1 ¾- 1 . . . . - . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . - . . . . . . . . - . . . . . . . _ . . . . . . . _ . . . . . . . . _ .. . . . . _ . . .. Buffalo & Su1q., pref •.. .... - ....... - ... . .. . - .... . ... - ....... . - .... 86¼- 86¼ 86¾- 87 86 - 89¾ 86 - ~ 86~- 58¾ 83 - 83 85 - 85M Canadian PacUlc. . .. 116 -121¾ l123,rll9 109¾-116 114¾-118 116 -118 117¼-125¼ 122!4-126 124¾-1~ 12i~-131 al27¾-:35~ l:.!6¾-135~ 127!J(-184.~ Rla-hts ...... ...... . ....... ..... - •. ....... - ........ - ... . ... - .. . . .. - ....... - .... .... - .. ...... - .... . ... - . .. 5 - 6~ 6¼- 6¾ . .. - •..• Certificates .... . ......... .... - . .. . .. - ..... . .. - . ....... - . ... .... - ........ - . .. . ... - ... . .... - . . . . . .. - . . . . ... - . . . .. . - . .. bl26¾-27M Canada Southern....... 66 - 68!4 . • • • - • . . 64¾- 65¾ 64 - 66~ 64¼- 65¾ 64~- 67½ 65¾- ~ 643,r 67¾ 66¾- 69 67¼- 68¾ 67 - 72 68!,i- 72 Central of NnvJer11ey . 160 -163~ lM¾-161¾ 157 -159 158 -161 157 -160 160 -162¾ 162 -166¾ 163 -169 170 -182¾180¾-187 181 -194¾ 186 -19!¾ Chesapeake & Ohio..... 82 - 86 29 - 84¾ 28~- 33¼ 81 - 38¾ 29 - 3~ 29~- ,U'4 31 - 35¼ SS - 39¾ 38~- 4.4¾ 48¾- 47¾ 4.8¼- 61 4.3¾- 50" ,Chlcaa-o & Alton....... .. 33 - 38¾ 84 - 40 35:1(- 40 37¾- SS¾ 35¾- 38¼ 85½- 88~ 86¼- '1¾ Sf,¾- 42 393,r 42 86'4- 4.0 37¾- ,1734 38!1(- 45 Pref .. , . . . .. . . . . . . . . . . . . . . . 75 - 85~ 81¾- 85 80 - 83 80¾- 82 803,r 81¾ 803,r 81 80 - 81 82 - 83 80 - 84¼ so - 80 ss - 85 St¾- 85 Chic. Burl. & Quincy ... 181 -182 . . . . - . . . . . . • • - . . . . . • . . - • . • . . . . . - . . . . . . • - . . . . . . • . - . . . . . . . - • . . . . . . _ . . . . . •• • - .. •. 200 -200 221 260 Chic. & :E.Illtnol11, pref. .... - .... 124 -124 124 -124 .•.. - • . . 125 -125 127 -127 124 -124 130 -130 •. - ... 132 -143 .. _ •. . _ .•.• -Chlcaa-o Great We■t... . 14¾- 17!J( 14 - 16¾ 14 - 15¼ 15¼- 17¾ 14¼- 16 12¼- U¾ 13~- 15¾ 13¼-- 15¾ lf¾- 17~ 16¾- 25¾ 22 - 26!. 20¼- 25~ 4 per cent debenture.. 8!¾- 85¼ 88¾- 83¾ . . • • - . . . . 86¾- 86¾ . . • . - . • . . . . . . - . • . 80¾- 80¾ 82~- 84 82 - 82 85 - 86 85~- 90 84!J(- 87 :J p. c. pref., A.......... . 68¾- 71 66 - 70¾ 67¾- 70 67¾- 70 62 - 67 47½- 61 49 - 55 49½- 53~ 51 - 56 55 - 65 62 - 74¾ 65 - 6~ 4 P• c. pref., B........ .. 27 - 81 26 - 29¾ 25¾- ~ 27 - 29¼ 26 - 28¾ 20 - 25 21:J.(- 26 22 - 24~ 23 - 26 26¾- 85~ 33¼- 39¾ 82!J(- 37% Chic. Ind. & Louis., pt. . . . . - . . . . . . . . - . . . . . . . - . . . . . . . . - . . . 65 - 65 88 - 00 . • . - • . . . 82 - 82 . . . - • . . . . • • - • . . . . . • . _ • • . . 85 _ 85 Obie. Mllw. & St. Paul .. 140!J(-148¾ 137¼-l~ 1377k147¾ 142!J(-146¼ 188!,(-143¼ 189¼-Ul 143!,4-149!)4 146_1.s-155¾ 15! -160~ 158_!.s-175¾ 167¾-176.¼ 164 -177% Pref. ....................... 177 -179¾1175 -175 178 -178¾ l'i5 -180 175¼-176 176¾-178 17o~-182 17~·179~ 184 -185 182 -185'J.f, :s2 -184 1i,o -185~ Chic. & Northwe1t ...... . 164¾-170~ 162 -165 161¼ ·172¾ 169 -172 168½-171¾ 167 -170¼ 170 -18~ 177¼-188" 184 -191 187 -197 193¾·211¾ lll8 -214¾ Pref ........ ... .............. 210¼ ·214¾ 207 -211¼ 208 -213 2U -214 214 -217 217¾ 211l½ 220 -224 222½-224 223!4-282 227 -234 2ao -237 232¾-237 Chic. R. I. & Pacific ..... .... - ........ - ... . ... - ... . .... - ... . 136 -137 180 -130 135 -135 .. .. - ... . 148 -148 161 -152 .. . - .. 178¼-178¼ Chic. St. Paul M. & 0 ... 145 -H5 .••• - •.• . 135 -135 . ... - • . . • ••. - ... .. . .. - . . • . ... - .... 138 -140 143 -148 150 -150 149!1(-160 153 -159¾ Pref ........ .............. . 176 -176 .... - ... . .. .. - .... 165 -172 176 -175 178 -173 178 -179 . ... - ... . 185 -186 187½-187¾ .• .. - .... 192 -192 Chic. ~erm'I Tran ■fer.. 9 - 12¾ 8~- 11 ~- 10¼ 8¾- 10¾ 5¾- 8¾ 6 - ~ 5%- 6~ 6J4- 8 5¾- 6~ 63-fa- 12½ 10¾- 16~ 113,r 14.~ •Pref........................ 18 - 26½ 18¼- 28½ 19 - 21~ 18 - 21½ 13~- 18½ lS¼- 16¾ 13½- 16¼ 11½- 17 12¾- 16¼ 14.¾- 26¾ 20¼- 27" 20 - ~ CJlev. Ctn. Chic.& St.L. 77 - 80¾ 77½- 79 74 - 76~ 74 - 76¾ 68½- 70¾ 69 - 70 70 - 76 74¾- 79¼ 78 - 82½ 81 - 86~ 86 - 89~ s, ~ 98% Pref............... . ........ .... - . . . 100 -107½ llQ¾-110¾ 107½-107¾ ..•• - •• . 104!J(-105 .... - • . . . •• - .... 109½-109¾ UO -112 lll!¼-115 114 -115 a Ex- rlghtl!. b 1st tnstalmen t paid. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD STOCKS. 108 190-1-Contlnued. S TOCKS. JANUARY FEBR1RY. MARCH. APRIL. MAY. JUNE. JULY. .AUGUST. SEPT'BER. OCTOBER. NOV'BER. DEO'BBR. - -- - - - - - - - - - - - - - - - - - - - - - - - - - - - - --1--- - - 1 - - - - + - - - - t - - - - Low.High Low.IIlgh Low.High Low.Higb Low.High Low.High Low.Higl: Low.High Low.Hiirb Low.High Low.High Low. High 70 - 70 70 - rn 65 - 65 . . . . - . . . 70 - 70 Cleve. L o r. & Wheel... . . . . - . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . . . - . . . . 60 - 60 Pref. .. ..................... .... - . . . . ... - ........ - . . . . 79 - 79 .... - •....•.• - • . • . . . . - . ....... - .... 75 - 75 00 -100 .... - •... 100),(-100¾ Cle ve. & P lttab. a-uo.r.. . .. - ... . ... - .... 181 -181 178½-180 178¾-178½ ... - .... 178½-178¼ . ... - •.•. .... - .. . . ... - .. . .. - . . . . .. - ..•• 15¾- 20½ 18 - 28~/i 21¾- 24~ 19½- 23:U H½- 16¼ 18¾- 17 Col. & S o., vot. tr. ctf11.. 15 - 19 14½- 18 15:U- 18¾ 16¼- 18:it, 14¼- 16¼ 18¼- 16 48 - 51~ 50¾- 65~ 5S - 60¼ 65 - 68 48 - 50~ !18 - 52 48 - 49 50 - 68 1st pref., vot. tr. ctfa.. 54 - 58½ 52 - 5™ 5~- 5514 58¾- 56 26 - 31~ 30 - 87x 33 - 37¾ - 28 21 ~ 19½22 19½2d pref., vot. tr. ctfa. . 28 - 28¾ 22 - 26!,:( 22¾- 26% 22~- 25¼ lP - 22¾ 17'.U- 20½ Delaware & Hudaon ... 163 -168½ 154 -168 149 -15>1¾ 151¼-160½ 152¾-158 1517-(-156¾ 1561kj-161~ 159¼-165 163 -170 169½-186~ 181 -ltl9!J;i 181 -190½ 2¾- 8>1. • • • • - • • . . • • • • - • . • . . • • • - • • • . • • - • • • . . •• • - . • • . . • • - • • . . • • • - • • • . . • • - • • • . . • - •••• - . . . . .. . - . . . Riaihta...... .. . . . .. . . . . . Del. Lo.ck . & We ■tern . . 264 -275 25()¾-271-U 251 -268 267 -215¾ 266 -270h! 266¼ 272 269 -273 270 -275 .372¼-300 290 -829 815 -834 :l20 -359¼ 19 - 21¾ 21 - 22¾ 22 - 26¼ 24¾- 29½ 28¾- 32¼ 29¾- 35¾ f0 - 84 D enve r & R i o Gro.nde. . 19¾- 23¾ 18)4- 21¾ 18 - 21¾ 20 - 22¾ 19 - 20 69!1:(- 72~ 65!1(- 68~ 66¾- 71½ 70 - 73¼ 70~- ·77½ 76¼- 82½ 81 - 84¼ 82 - 87½ 83¾- 89 Pref. .............. . . . . . . . . 691'- 74¾ 64¾- 71:¾ 65¾- 70 1 - l .... - ... .. ... - ........ - . . . . 1 - 1 .... - . .. . 6¼- 5x ...• - ...• 1 - 1 Denver & Soutbwe8t'n 1 - 2¼ . ... - •... ...• - .•• Pref........................ 2 - 3½ 2~ 2¾ . . . . - • • . . 2 - 2¼ . •. • - . . . . . . . • - •. . . . . • - . . . . •. - . . . . . •. • . . . . . . . • - . . . . 1 - 6 . . . . - .•.. 28¾- 23½ 24 - 24!,i, 24 - 26 25 - 25½ 24¼- 27 1~ - 18 . .•. - ... 17 - 17 21 - 21 21 - 23 Des Mo. & Ft. Dodaie .. . 19¾- 24~ 21 - 21 ... - . . . . . .. - . . . . . .. - . . . . . .. - .. . . .... - •.. .. ... - ... ... .. - • . . . . .. - ... .. .•. _ . . . . . . . _ .. . ... _ ..•• Pref ....................... . 120 -120 5 - 7¼ 3¾- 5¼ 41}.(- 10 10 - 11:J:t 8¼- 10½ S'¼- 8¾ 1¼- 4¼ 2¼- 27A\ 1¾- 2¼ 2¼- 6 Det. So., vot. tr. ctJa... 10 - 14¾ 8½- 11 7 - 9!J;t 81}4- 30% 261}4- 38¼ 8 - 17¼ 2¾- SJ.i, 4 - !I¼ 4 - 4~ 4¼- 8 16¾- 20 Pref. votinai tr. ctf8 .... 24 - 29½ 17¾- 26½ 17 - 22 7¾- 12¾ 11 - 14:h 11¼- 14 7¾- 8 6 - 7 6'¼- 7¼ 5¼- 5~ 6¾- 7 7¼- 8 Duluth So. Sb. & Atl... 9¾- 10¼ 8 - 9¾ 8 - 9 9¾- 12 12 - 13).4 12½- 21~ 18¾- 29½ 21 - 27¼ 10 - 12 9¾- 11 11¼- 12 13 - 13 13 - lt\~ 13 - 14¾ 11½- 18 Pref...................... 22:1,4- 24½ 23¾- 26½ 2~- 28½ 28¼- 32~ 31½- 41¼ 37¼- 41~ 33 - 41 Erle-........ ................ 27¼- 29~ 22 - 27~ 22¾- 27¾ 24¾- 2i¾ 21½- 25 lat pref.. .. ............... . 66¾- 69y.1 61¼- 66\lt. 61¾- 65}4 63 - 66911 55¾- 63¾ 56 - 69½ 58¾- 63¾ 60¼- 65¼ 6-l¾- 68¾ 67~- 74¼ 70¼- 74¼ 'il¼- 77 35h! 34¾- 311¾ Stl - 41½ 40¼- 47!,s, 46 - 54¼ 50¾- 6~ 53 - 583,i 33¾ S8¾ 83 43>t! 38½43¾ 37¾2d pref................... 47 - 50½ 87}(- 47~ 62 - 67 59½- 59:¾ 58 - 64 56 - 59½ 69 - 59 5! - 56 Evo.nsvllle & T. Ho.ute. 62 - 66½ 65 - 65 .. .. - . .. . 57 - 57 ...• - • .. . 64 - 64 .... - . . . . 82 - 83 85 - 85 Pref ..... . ................. . . ... - . . . 72 - 72 ...• - .... . ... - ....... - ... .. .•. - . . . . . . . - . . . . 80 - E0 ... 38 - 43 42 - 46 40½- 43¼ 44 - 60½ !1.6½- 47 Ft. Worth & Den. City 53¾- 58% 52¾- 64 . ... - ..•....• - •. . . 40 - 40 . .•• - ••. 40 - 41 ... - ... .... - ... 185 -195 HJ6 -2S0 216 -242¾ Great Northern, pref .. . . 177 -177 .... - •.. 170 -186 173 -180 175 -175 ...• - •.• . 175 -180 - 82 82 .... .. .. . ... ........ . .. . ... Green Bay & West'n . . . .... - .. . . ... - ... . •·· - •·· .. .. - .... . ... - ... .. ... - ... ... . - ... . .. 73 - 76½ 75 - 84'h! 82 - 86x, .. .. - .••• .•. - . . . . .. - . . . . . .. - . . . 70 - 70 Deben. certs., Ser. A.. 79¾- 70'½ 74¾- 74¾ 72 - 74¼ 73 - 73 Deben. certs., "er. B . 12¼- 14¾ 11'¼- 13:J.. 11¾- 18¾ 12½- 15¼ 12 - 1~ 11 - 12¾ 12¾- 1::l¾ 12"~- 14¾ 14 - 151>.i 14½- 20½ 18 - 20;1:1 17 - 19,t Hockinai Vo.Hey..... . ... 72 - 77>1, 70 - 76¼ 74 - 74¼ 69 - 72¾ 60 - 67~ 61 - 67¾ 64 - 68¼ 63 - 84½ 77 - 8~ 80½- 83 so - 86,1, 86 - 94 8~ - 90¾ 88 - 91¼ 9 ¾- 95 87 - 90 77 - 80¾ 79 - 83¾ 80¼- 82¼ so - 91 77 - 81¼ 80¼- 81 130 - 85 Pref....................... 83¾- 85 Illinois Centro.I....... ... 129 -13'1¾ 125¾-130½ 126~-131 129¾-131~ 128¼-130½ 128~-132 131¼-137½ 132½-139 187 -140~ 139¼-HII¼ 141!)4-158¼ 14.9¼ -159 Leaaed lines stock. ... 103½-104½ ... . - ... 104 -10-1 104¼-104½ ...• - . . . . ... - . . . . ...• - . ... . ... - ....... - . .. . .. - ... . 105 -105 .... - •••• 25½- 31¾ 22 - 25~ 24¾- 29½ 27 - 33 18 - 19;1:1 18¾- 18½ H - 18½ 18 - 193-2 18 - 22 18 - 20 Iowo. Centro.I............. iO - 22% 17 - 21 U½- 47¾ 45 - 51¾ 47¾- 59:J-.1 55¾- 67~ 3i - 317% 85 - 43 33 - 37½ M½- 36¾ 34½- 343,{ 32 - 85 82 - 36 Pref........................ 3~- 42 38)4- 35 34¾- 36y.1 35~- S7y.1 87 - 38 28 - 30 26¼- 27 22½- 28~ 25 - 25 25 - 25 25 - 25 26¾- 27 Ko.no.who. & Mlchla-o.n. 28 - 29 76 - 79¾ 77 - Su½ 79 - 83½ 81 - 83¼ 67 - 74~ 72 - 77 66 - 67¾ 66 - 70½ 66~- 67¼ 6!¼- 67 05 - 67 K.C.F,S.&M.t.ctfs .pf. 66¼- 69 27¾- 31¼ 24½- 81¾ 2!i - 30 24 - 26 24 22¼22~ 21}(21½ 18%20 17¾10¾ 18 21 16¾19>4 16¾21 18¾ctts... tr. vot. So., K. C. 50½- 56¾ 47½- 54¾ 42 - 45:1,,1 44¾- 4!3¾ 46 - 58 36¾- 48½ 42 - !15 Si½- 39 34¾- 37 31 - 37 Pref,, vot. trust ctfs... 83 - 38¾ 31 - 87 13 - 13 13!)4- 18¾ 15 - 18 17½- 19~ 15 - 16 13 - 13 13 - 18 10½- 10½ 10½- 10~ 12½- 1~ 14 - 14 Keok. & Des Moines... . 10¼- 14 Pref ................. ....... .... - ... . . . . - . .. ..... - . . . . !15¼- 52 .... - . . . . . .. - .. . . . ... - .. . . .. - . . 50½- 60½ ..• - . . . . . . • . .. 46½- 46¼ 82 - 41~ 32 - 43¼ 32 - 36 30 - 34 26½- 33 LakeErle&Western ... 28 - 30½ 26¾- 30 26 - 27½ 26¼- 28½ 28}(- 28~ 26 - 28½ 26 - 26 96 -102½ 8S -105 U•2 -103 90 - IJ0 85 - 95 . ... - . . . 85 - €6 115 - 95 ...• - . .. . . .. - ... 95 - 95 Pref....................... 89 - 89 Lake Shore ............... . . ... - .... 2711}.!-271¾ .. .. - ........ - ........ - . . . ~6 -256 250 -2W .. . . - .... . ..• - ... . ... - . .. 245 -2E0 300 -300 56 - 59¾ 58 - 62½ C2 - 62 56 - 69 48 - 56X! 65 - 59 47 - 47 46 - 46 49 - 51 49 - 49 Lona- Island............ .. 53¼- 65½ 50 - 63 Loulavllle & Nashville . 106 -111½ 101 -107).4 L0llJ:{-108¾ LO'i¼-110 106%-109~ 106'¼-110½ 110 -118 114 -122½ 120,!i U.7½ 127 -187½131 -H2½ 183 -148'-i Manho.tto.n Elevated ... . 141¼-146¾. 140 -143¾ 139:J;!-144½ Hl¾-143¾ 142 -141,<, 143¾-149}{, U9¼ 152¾ 149:J;!-166 153 -15i~ l53xi-ltl4 159¾-1693-(i 102¾-168¼ 18¾- 19¾ 17 - 23% 1 ½- 28~ 9¾- 14½ 9¼- 12½ 9¾- 121k, 5 - 10¾ 6½- 8½ 6¾ · 8¾ 7¾- 10:►.i 9¾- 12¾ 11¾- 15 Mexican Centro.I....... Mlcbla-o.n Centro.I ....... 120 -126~ 1191,g-188 ..•• - •.. 120 -120 130 -130 129¼-129½ . .. - . .. . ... - .. . 122½-135 130 -13.2 lS0 -150 184 145 5 - 64;l.! 59 - 65 43¾- 48¾ !6¾- 56 55 - 57¾ 56 - 62 Mlnneo.p. & St. Louis.. 62~- 67¾ 61 - 65 . . •• - . . . . . . . - . . . . . . • • - . . . . 40 - 44 90 - 00~ 95 - 96½ . . . . - . • . 95 - 95 80½- 91 80 - 80 ... - . .. ... Pref.... . . . . . . . .. . . . . . .. . . 90 - 94¾ 91 - 91 . . . • - . . . . 85 - 85 86 - 98¾ 64½- 91¼ 74¾- 95 72½- 77 60 - 62½ 60¾- 6i¾ 66½- 75½ 71 - 76 59 - 63'7Ai 60¾- 68 58 - 65 Minn. St. P. & S.S. M.. 55 - 67 Pref ....... ............... . 118 -126¾ 117 -12'1½ 117 -12± 118 -119 116 -120½ 118¼-i.24~ 123 -128½ 127 -131 129 -134~ 130 -150 144 -149 lU -147M 29¼- S6~ 29¾- 34¾ 32¾ 24¼24~ 21½it¼ 17¾18¾ 161,(16¼ 15 17¼ 15¼18¼ 17 18¾ 15)417!k, 14¾19 16)4... Mo. Ko.nan.a & Texas Pref....................... . 38 - 42¼ 35 - 40 36¼- 3~ 37 - !10¾ 337-(- Se¾ 32¼- 37½ 36½- 41½ 89½- 49~ 46 - 49:J.;i 49 - 69¾ 57 - 64 ¼ 60¾- 66¼ 8½- 92~ 88¾ - 9 1¼ 90¾- 95½ 91½- 98¼ 95¾- 99% 97~-105~ 101¼-110¾ 102¼·111½ Missouri Po.clftc ......... . 90¾- 95'¼ 87 - 94 87 - 9i>:i 92¼- 95 Jllorrls & Essex.......... 195 · -185 .. . . - . . . . ... - ... . 182½-182½ 186½-186½ .... - ........ - ....... . - . . . . . .. - ... . 185 -185 . . . - .... 184 -190 Nashv. Chatt, & St. L. 108 -124¼ 101½-111 104½-108 toS -117 107½-110 H,7 -112 111)4-115 114¾-122½ 120 -124 126 -137 182½-H6 LU -147~a 86 - 39¾ 36}4- 38¼ 36~- 41½ 3 ½- !12¾ 89¾- 45¼ 39 - 43¾ 35¾- ~7 86 - 36 ~ - 38~ 36 - 38½ 37 - 40 No.t'l oflne:xico-Pref.. . 34¼- 41 2u vnH . . . . . . . . . . _..• _ N. Y. Cent. & Hud. Riv N. Y. Chic. & St. Louis 1st pref ........ __ .... _.. ~d pref........ - - - . . . . . . N,Y.&Harlem .. ...... . N. Y, Lack. & West ..... N. Y. N. Haven & Hartf. N. Y. Ontario & West .. Norfolk& Western ..... . Pref....... ... . .. ....... . Northern Central.. .... . PacUlc Coo.st Co.......... 1st pref.................... 2d pref..... . . .. . . . . . . . . Pennsylvania RR ....... Peoria & En.stern....... Pere Marquette......... Pref.. . . . . . . . . . . . .. .. . . . . . P itta. Clnn. Ch. & St.L Pref . ................... . .. . P ltts.Ft. W.&Ch.,1ru . R ailroad Securities, Ill. Cent. stk. tr. ctfs.. Reading...... .. ... . . . .. . . . ht pref.. ................. Zd pref............... ... . R ensselaer & Sara t o ~ Rock Ialo.nd Co . . ..... .. . . ....... Pre t .......... Rome W at. & Oardenab. Ru t land, pret. ........... St. Joa. & Gr. I ■ land.. .. . lat pref............. ~ d p ref... ..... . . . .. .. ...... es. L . & S . Fr., l at p ret 2d pref . .. . . . ............. . C. & E. Il l. s tk.tr.ctf8. :rref.st o ck tr u ■ t ctf a. Louis S o uth weat'n. £ref . . .. .. . .. .. . .. . . . .. .. Southern vot. tr. c tf8, iitamped extended ..... Pref. vot'ar tru• t ctta .. •tamped e x t ende d .. . ,t. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 19 - 21% 20,¼- 22¾ 22 - 25¼ 20¼- 23½ 17¾- 20 16½- 17% 17¾- 19 113¾-116¾, 115 -12()% 118¼-12!1¾ 122 -129 74 126 -136½ 1 ~¾-142 133 -145½ rn - 20¼ 27½- 29½ 28½- 32¼ 30¾- 32½ 32 - 38¼ Si>¾- 44¾ 40 - 47 ..• - •... 105 -108½ 109 -10.J½ 109¾-10~ .. .. - ... . 113 -113 115 -115 65 - 71¾ 73 - 77½ 74¾- ~8 65 - 68 61 - 65 63 - 63 60 - 60 .... - ... .. .. - ... . ... - ... . ... - . ....... - .... 40J -4.05 .... - ......•• - •.. U0 -410 l00 -415 . ..• - •.• ..... - .. . . .... - ... . 131 -131 ...• - ... . .•.• - ... ..•. • - •.. . ... - .......• - ....•. - ......• - ... . ..•........ _ •... 132¾-132¼ 1P4¾-196 mo -195½ 189 -192 1883,,C-189ll:! 185¾-188¼ 186 -1 9¼ 189 -195 188¼-192~ 190 -194½ 191½-199 198 -197¼ 190 -1!.l9 21¾- 26¾ 26\kj- 31¾ 30 - 34% St - 37 Si - 47¼ 89½- 43¾ 39½- 45 21¼- 24¼ 19¾- 23,4 19¾- 22¼ 21¼- 22¾ 20¾- 22 53~- 5~ 56¾- 62'¼ 60:ki-- 68¾ 67 - 70)4 69¾- 73¾ 7()%- 76½ 7'1¼- 80¾ 57 - 69¾ 55:ki- 57 56¼- 62¾ 55 - 60¾ 5$¾- o9 88¾- ~ 89 - 89 88¾- 90 88 - 88 85 - 90 90 - 91 9fl - 91 90½- 91 92 - 93 92 - 94 93¾ - 95 89 - 89 .... - ....... - .... .. .. - ... .... . - . .. ..... - .... 150 -168 165 •1';'0 172 -172 187 -195 190 -ll'O 179 -179 ... - ... . 63½- 65¾ 64 - 78½ 75½- 80¾ 74 - 82¼ tll - 64 53 - 68½ 51¾- 54½ 54¼- 64¼ 54½- 61 63 - 64 62¾- 56½ 51 - 55 - ..• . . . - . . . . .. - . . . . ... - . ....... - ... . .... - ........ - . . . . 95 - ll5 .... - ... 101 -101 .... - . ... 100 -100 66 - 68¾ 69 - 74¾ 73¼- 75¾ 75 - 83 81 - 84¾ 80 - 86¼ 61¼- 67¼ 62¾- 65¾ 61½- 6!i . . . . - . . . . 64¾- 6i!,2 64 - 64 116¾-123¼ 112¼-121¾ lll¾-120 116!14-119'.ki 112¾-118¾ 113¼-116.½, 115~-121lJ4 118'¼-126½ 124¾-rn2~ 131½-138½ 181¾ 189:kl 1:,2 -140 28 - 32¼ 26 - 31 24½- 27 23¼ 217(- 25 . ... - .... . ... - .... 17 - 19 .... - ... . . ... - . . . . ... - •.. . 19 - 20¾ 19 76½- 78 75 - 77½ 75 - 78~ 78 - 79~ 74¼- 77lJ,t 77 - ~8 ...• - ....... - ... . 78~ 11 - 78½ 70 - 7 79 - 81¾ 75 - 78 - .••• 79½.... 76¼787-1 71¾69¾ 69¾. . . . . . . 69 69 . . . • . . . . 68 68 . . . . . . . . - . . . . . . . . - . . . . .. . . - . . . . . . . 74¾- 80 78 - 77 70 - 77 68¼- 7.1 60 - 63½ 63¾- 73 56 - 5tl 56 - 60 60 - 62¼ 55 - 60 63 - 66¾ 61 - 61 97 -101 l0Q¼-105 101 -105 102 -106 106 -107 92¼- 95 91 - lll¼ 91 - 92 99 - 99 .. •. - . .. . 00 - 91 97 - 98 180 -180 . ••• - ....•.• - •••...•• - ........ - ........ - .... 179¼-180¼182"-183½ .... - .... 181 -184~183¾-184 1~)4-184¾ 17½- 21'¼ 117¼-122 26½- 32¾ 108 108 63 - 69 90 43¾773,,C69 - 90 48 81 62 15¾- 20 113 -119~ 26¼- 29½ 1007,(-100¼ . . . • - •. . 85 39}-fi79 55"- 90¾ 45% so 68¾ .. .. - . . .. . . .. - . . .. 20¾- 27¾ 19¾- 24¼ 57¾- 68¾ 59 - 64~ 131 -131 181 -181 . ... - . . . 86½ - 38½ 9~- 9¼ 11¾- 14 36 - 36 42 - 45 16 - 20½ 17 - 18 . . . - • ••. 70 - 70 89¼- 49¼ t0¾- 48 150 -167 150 -155 123¼- 123½ 122 -122~ 18¾· 16¼ 13¼- 14~ 31¼- 361}4 29½- Si¾ 17 - 19½ 112¼-118¼ 25¼- 2.l¼ ..•• - . . • . 63 - 63 18¼- 18¼ 17¼- 18 116:ki-118)4 113¼-115'¼ . .•• • ••. 25 - 28 • •• - •••. 101¼-105 .• •• - ••. . . . . . - . . . . ..• - ... 43¾- 45¼ 78¼- 79½ 61 - 66 . . . . - .... 205 -205 22}4- 25 19¼- 24 62¼- 67\k, 69¼- 64 132 -132~ .••. - .. . .••• - •.. . 30 - 85 9 - 9 ..•. - .... 88 - 40 36 - 37 ...• - •.....•. - •••. 61 - 70 . . • • - • •• . 45M- 49 41 - 46 159 -159 155 -159 ..•• - •... 128}(-123~ 12'¼- 14~ 18}(- 14¾ 3°"- 34¼ 83%· 86 90½38¾76 66 - 90½ 45¾ 79½ 60½ 90¼- 92¼ 87 - 89½ 89 - 91 92¾- 92¼ .... - •••. 90 - 90 88"- 90 91 - 93 68¼- 77¾ 70¾- 78½ 73¾- 82¾ 61¼- 70 40¾- 44½ 43¼- 48¼ 46¾- 64¾ 61¾- 63 78 - 78½ rn - 82½ 82 - 83¾ 83 - 95½ 84 - 86:J.4 85¾- ES¾ 87¾- '3~ 88¾- 92 7~½- 81¼ 80}4- 85 59 - 62~ 62¾- 67¼ 67 - 72!4 70 - 75¼ 74 - 78¾ 77¼- 82 . . . • - • • • . . . . . - . . . . . • • • - . . • . . . • • - . • . . . . . • - • . . . . . . - . . . . . . . . - . . . • . - .•.• 22 - 26¼ 25114- 80¾ 28 - 35¼ 31¾- 37¾ so - 37M 20¼- 23¼ 19¾- 21½ 20¾1- 2!i 63½- t17¾ 64¼- 68¾ 68-~- 74¼ 71 - 75¼ 72)11- 8tl~ 81¼- 86 62¾- t17¾ 68 - 65 182 -182 .... - ..•. 138 -183 •••• - ... 183 -183 132½-1S2¾ 130 -135 184 -138 70 - 72)4 61¾- 54 43 - 55 30½- 30½ so - 30 .•.• - ..•..••• - . • . 31 - Si 14¼- 17 12 - 17 15¾- 17 15M- 16¾ 16 - 18 9 - 9 . ... - ••. . 10 - 10 66¼- 68¾ 45}4- 53½ 63 - 60 46 - 47 43 - 51 38 - 42 36 - 37 35 - 85 29¼- 29~ 18¼- 20½ 21 - 2™ 24¾- 26¾ 24¾- 21~ 24 - so 14¼- 14½ 13 - 18 76 - 79:14 74¼- 78 73¾- 73:!4 72 - 75 71 - 75 • . • • - . . . . . • . • - . . • • 70 - 70 63!,4- 72¼ 68¼- 6c¾ 6()%- 70 58¾- 61 42¼- 46¼ t6¾- 63¾ 62 - 60 44¾- 48 159 -162 163 -163 163 -163 164 -178 170 -171 172 -182 179 -183 179¼-185 ... - .....•.. - ••.. 124 -126 ...• - ••.. . ..• - .... 130 -183 127 -181½ 127¼- 183 13¼- 22¾ 19 - 22¾ 21 - 23:J,t 21½- 26¼ 28¼- 29 11 - 13¾ 9¾- 1~ 11 - 14 S3 - 47¾ 40¾- 46M 4,7 - 61¾ 4SM- 64~ 60 - 60¾ 29h- 34 25"- so 26¼- 34 19¾- 23¼ 18M- 22~ 18%- 22¼ 20%- 22'¼ 19¾- 21 77½- 1-6~ 77¼- 883' 79¾- 86 19¼- 213' 21¼- 25~ 8' - 86~ SIM- 84M 82M- ~ 86 - 90 28 - 29~ 29%- Si'¼ 32¼- 3~ 88 - 95J,6 9~- 96 93¼- 96 38¼ - 36½ S29(- 87~ 93 - 96 94. - ~ RAILROAD AND MISCELLANEOUS STOCKS. 109 1904-Contlnned. STOCKS. JA1'7JARY FEBR'RY. MARCH. APRIL. MAY. JUNE. JULY. AUGUST. SEPT'BER. OCTOBER. NOV'BER. DEC'BER. - - - - - - - - - - - -· ------1-----1- - - · - - - - - - - - - - - - -- --- - - Low.Hiirll Low.High Low.High Low. High Low.High Low. Hlgl1 Low.High Low.High Low. Sigh Low.Hig o Low.Hiiz-1 f,ow.Hl11b Sou thern-( Con.)M. & o. stock tr. ctfs. Southern Pacific Co... . .Rlahts.. .... ... ..... .. . . . Pref. .. . . . . . . . . . . . . . . . . . . . . . Texas & Paclflc.. . ... . Toi. Peoria & Western 'l'ol.St.L.&W.,v.tr.ctf8 Pref .. vot. n·. ctfs ... . . . Union Pacific............. . Pref... ,... ................. Wabash................... . . Pref ....................... . Wheelinii &. Lake Erie l ■ t pref... ............... . 2d pref..... ... . .. . . . . . . . . . . Wlscon. Cent.,v.tr.ctfs. Pref., vot. tr. ctfs... ... 9i - 94 92 - 92 92 - 92 95¾- 95¼ 96 - 97 90 - 90 91 - 92 98 - 98 91 - 91 92 - 92 98 - 93 93 - 93 56¾- 6!¼ 59½- 68:J:- 59¼- 67¼ 46¾- 52~ 42½- 50~ 41¼- 51¼ 47¼- 51¾ 44:J;i- 47% 44¼- 48~ 46%- 5:;:% 48¾- 57-U 54),,(- 59 1 .. . .. - ... . .... - .. ... .. - ... . .... - .... .... - ...... .. - . . . .. . 2¼- 2½ 2¼- 2~ . . . . - . . . . . . . - . . . . . . - . . . 113 -116¼ 115!,g-1167-.115%-11~ ll5~-119¼ . . . - . . . . . •, - . . . . . . . - ... . •••• - • •. •••. - , • •• • • - • . , . - •• • . .. 2! - 27¾ 21½- 26~ 22¼- 24¼ 23 - 25¼ 20"- 22% 21>¼- 22¾ 22½- 26½ 24¾- 32¼ 80¼- 38¼ 81\¼- 36% St!}(- ~ 82 - 88 ... . - .. . .... - ... .. - ... . 17 - 17 , .•. - .... . .. . .. - .. . . 21cJ¼ · 32~ 29 - 38 38½ · 87!1( 28¼- 29½ 22 - 26~ 2i - 27 24 - 26¾ 21½- 26¾ 22 - 25¼ 24 - 27~ 25 - 2~¾ 28 - 83 87 - 89¾ 32 - 36:½ 34 - 87~ 85 - 89% 87 - 89½ 84¼ 88¼ 37 - 89¾ 38 - 48¼ 46 - 53 4.8½- 5.1 47%- 5779 - 56¾ 94¾-101~ 96¾-103¼ 102 -113¼ 107¾-117 l04½-11619 76½- 82¼ 72¼- 81~ 71 - 87¼ 83%- 90 81¼- 85)4 82%- 80 88¼· 99 88%- 91½ 6½- 91½ 86¼- g4 93 - 95~ 94¼- 95x 94!J:1- 98 92 - 94½ 90)4- 112¼ lH¼- 98~ 98¼- 9H, 93¼- 95~ 92¾- 94 19½1- 21¾ 17 - 20½ 17¾- 19% 18 - 19¾ 15 - 18 19~- 22¾ 2 '¾- 25 20 - 24 15¼- 17 16"- 17lh 16¾- 19!li 19¼- 22 85¾- 41 82¾- 89:)s 82¾- 38 36¾- 39~ 32¾- 87¾ 82¾- 86¼ 34~- 37~ 35 - 39~ 39 - 43¼ 40¾- 44!}.i 41¾- 48!,1, 4.0½- 47,4 Ii¼- 19¾ 14¼ · 17¼ 16 - 17 16 - 17¾ 15 - 16¼ 14¼- 16¼ 14¼- 16¼ 16 - 17½ 16 - 18¼ 17¾- 20½ 177/li- 22l}i l '/½- 21 46 - 52¾ 42 - oO 88 - 46 45 - 48 4:i¾- 46¼- 43¾- 47½ 4tl - 49k 41\%- !l8 44 - 46 42¼- 46 41¼- 44:½ 37 - 43 24 - 29¾ 22 - 26½ 25 - 27 25 - 26¼ 23¼- 25¼ 21¼- 25 26 - 28¼ 21¼- 24¾ Z~¾- 26¼ 25 - 26¾ 2!:1:(- 28!J:I 261}.!- 82 16~19¼ 18 - 21¾ 19¾- 2i¼ 21¾- 25 16¼- 21¾ 17~- 20¼ 17¾- 19½ 17¾- 19 20¼- 24 16¼ · 17¾ 16 - 17½ 16!':{- 18¾ 38 - 477.1! 39 - 44:½ 39 - 43¼ 40 - 42¾ 38 - 40>11 87 - 88¼ 88 - 403,t 38½- 42}2 41½- 46¾ 43½- 47 42%- 4.9jf 44 - 4.8 EXPRE~S. &dams ... ...... ......... .... J23 -225 &merlcan . .... ...... .... .... 195 -197 United States ...... . ...... . 107¼-110 Wells, Farllo & Co . .. .. cao5 -212 COAL & MINING. Amalgamated Copper .. American Coal.. .......... Anaconda (;op per . . .. . Central Coal & Coke .. . Colorado Fuel & Iron .. Pret....... .. . . .. . . . . . .. . . Col. & H. Coal & Iron .. Conaoli datlon tJoal ..... . Homestake Mtnlnir.. Maryland Coal, pref .... New Central Con.I, new . Ontario Silver lUtnlnll.. QutckstlverMtnlnir . .... . Pref... . .... . . . . . . . ........ Tennessee Coal & hon Va. Iron Coal & t.'oke . . 220 190 100 t 05 -225 -195 -105 -205 224 -225 185 -192 100¼-110 205 -205 222 -225 1811 -195 no -110 20,1 -205 222 -226 186 -190 100¾ 103 208 -207 224½ 224X! 224½-226 180 -190 189 -203 102 -106 10-1, -113 200 -210 .oo -210 224¼-230 194 -215 110 -123 209 -250 2~0 205 ll5 280 -236 235 -250 245 -!:43 -214½208¼-212 210 -219 -120 115¼-121 115 -128 -240 236 -243 240 -246 285½-240 W5 -212¾ ll8 -121 240 -248 47½- 52 i8¼- 51'½ 44¾- 50¼ 47'½- 52¾ 46¾- 51¾ 4~- 50¾ 49%- 5i}4 51 - 58¼ 56¼- 59¾ 58¼- 71¼ 68 - 8ll', 68¼- 82M 200 -200 .... - .... 195 -195 190 -190 180 -1~0 .... - .. 185 -210 62 - 68 67 - 80~ 74 - 78 'iO¼- 74½ 70)4- 76½ 72 - 80¾ 80 - 98 94 -104½ 101 -120U 95 -118¼ .... ... . - .. . .. .. - . . . . . . . - .. . . ... - .. . ... .. - ........ - ........ - .... •• .. - , •. .. .. - .. . .. .. - .. . 65.!I(- 66 34½ 30 - 33¼ 25¼- 31 28¼- 88¾ 28 - 32¼ 28¼- SL 30¾:- 88½ 35¾- 87% 81¾- 44 34¾- 44% 40¾:- 5~ 37 - 58 65 65 - 65 51!½- 59½ 68 - d3 . • • • - . . . . 60 - 60 64 - 65 65 - 65 65 - 65 68¼- 73 75 - 92}. 90 - 95 l!l¾ 11¾- 14¾ 11¾- 13¾ 12 - 13½ 11¾- 18¼ 8 - 11½ 9 - 9¾ 9 - 13 12½- 13~ 12¼- 15 14 - 17~ 16 - 19¼ ...... .. 68 - 68 66 - 66 . .. . - ........ - ........ - .... . .. - .•. . ..•• - .... ... - ....... - •••. 50¼ 51 - o1 49¼- 51 50 - 51% .•.. - . . . . 51 - 54 52¼- 52½ 54 - 54½ ... - . . . 55 - 55~ 56 - 73 58 - 78¼ .. .. 110 -116 .•• • - ••.• . .•. - • .. 115 -115 . .. - ... . . ... - •.. . 110 -115 .. .. - ........ - .. . . ...• - . . . . ... - •••• .... 45 - 45 .••• - •....•• - ....... - ... .. .•• - ....... - ........ - •... 48 - 43 48 - 43 42 - i2 42 - 42 4½ .... - ... . .... - .... 4 - 4¼ 4 - 4 ... . - ... . .. - ... . ... . - ....... - .... 4½- 4½ 4 - 4 3½- 4¾ ........ - ........ - ... . .... - ....... - ... ~- 'h .... - ...... - ... .. ... - .. ..... - .. . 114- SJ.<. 1¾- 2:¼ . .. . 4¼- 4½! !l - 4 4¼- 4J.\ . . . . - . . . . 8~- 8~ 3¾- 3¾ . .. . - . . .. . - . . . . . - . .. . 8½- 7 . . . . - •.•• 41 84¾- 38 35 - 39:J;t 35 - 41¼ 31¾- 36 32¾- 35¾ 85 - 44¾ 42%- 46¾ 44¾- 49½ 48 - 59 56¾- 77x 61½- 77¼ ... . .. . . - ........ - ... . 20 - 20 ... . - . . . . ... - •.. . .. • - • ... 19 - 19 18½- 21 22¼- 27 26 - 44 85 - 44 . ... - . ....... - . . . . ... - ... .. ... - .... 200 -220 72 - 78½ 61 - 74 . ... 27¾65 13½- ... 50¼- .... .... 4½- .... ... 35 - ... - VARIOUS. Aills-Chalmers.......... 7 - ~.! 8¼· 16 6 - 12 6½- 7¾ 6 - 7:J;t 8 - 8½ 0 - 13¾ 11 - 11~ 10 - 10 10¼- 15 13 - 21111 15 - 19¼ P1·ct . ... .. .......... 55 - 60 59¾- 64¼ 89½- 56 40 - 43 39½- 42 41¾ · 42½ 42¼- 55 49¼- 50 50 - 51¾ 49 - 62 53¼- 71 69 - 70 Amer. Agric. Chemical 14 - 14¾ 13¼- 13¾ 13 - 14 18 - 18½ .... - •....... - . . . . 14¾ · 14¾ 14¾- 15 . . - .. . 18 - 21¾ 21 - 21¼ 20 - 24% Pref................. . ..... . 72¾- 75x, 75¼• 75¾ 78 - 78½ .• . - ... . ..•• - .... 73¼· 73¼ 75 - 75 79 - 79 .. .. - •.. . 78 - 78 . .. - ... 85¼- 87 Amer. Beet Suirn.r.. . .... . .. - . .. . . . - ... . 21 - 21 . .• - •. . . .• - .•. . ..• - .... . ... • . .. . • • - ... rn - 21½ 20 - 2! 28½- 25 25 - 25 Pref ............ . . .. . . . . . . . - . . . . ... - ... . . . .. - . .. . . . - . . . . ... - . . . . . .. - . .. . . .. - . . . . .. . . - .. . 'i4 - 74 74¾- 74.¾ 76 - 80 80 - 80 Amer. Car & Foundry. 17¾- 21¾ 18¼- 20~ 19 - 20½ 17 - 20¾ 16 - 17U 16 - 17½ 14'4- 19¼ 18¼- 19!,4 l~!J.1:- 24½ 22¾- 27;¼ :l5¾- 84~ 29 - 35¼ Pref....................... 67 - 72 67 - tl9½ ti8 - 72½ 69¼- 74¾ tl9 - 71 70 - 71¼ 71 - 79 78 - 79¼ 7o½- 82¼ 711½- 85½ 8~¼- 9-•½ 89 - 9i!I( &me1·. Cotton Oil Co . .' . . 28½- 32% 29 - 81 28¼- 30 21!½· :lO¾ 27¾- 30 21¼- 27 26½- 28 26 - 3-l¾ 26 - Si½ 2"¾- 33 213%· 35% 83¼- 87'7~ Pref........ . . . . . . . .. . . . 89 - 89½ 90 - 90 88 - 91 90 - 90 93¼- 93¼ 83¾- 90 89½- 90 89¼ - 112 91 - 9 •~ 92 - 95 92 - 97 98 - 96 Amer. Dist. Telegraph. 23½- 25 .... - ... . 23 - 24 .... - ........ - •• • .. - .. .. 26¼- 26½ 22 - 22 23 - 24 25¾- 27!4 26 - Slx, 32 - 89 Amer. Gra s Twine. 5¼- 5¼ 5½- 8½ 6 - 7¼ 6 - 6¼ .••• - .. . 5¼- 5¾ 5¼- 77,f 5 - 7¼ 6 - B➔.i 5¾- i,l}.i 7¼- 11~. 9¼- 14 Amer. Hide & Leather 2%- 5¼ 4 - 4¾ 8½- 4:}f. 4 - 4~ 4e - 4 8~- 4 4 - 4¾ 4 - 4 8½- 5¼ 4¼- 6 5½- 10 9~- 11~ Pref....... .. .. . ..... ...... 11¼· lo¾ 15 - 17'7~ 14¼- 15 16¼ 18¾ 15 - 16 15½- 20 19¼- 21¼ 19 - 21 19 - 20½ 19 - 28¼ 22 - SJ ►. ·a 9 - 48!J4 Ame • ican Ice Co.......... 7~- 9¼ 7¼- 8% 6¼- 8 6%- 7¼ 6¾- 7¾ tl~I.- 'i 6½- 7~ 6¼- 7¼ 6¼- 8~ 7½- 9 7%· 9:Jc 6 - 8¾ Pref. ..·................ . .... 9.9¼- 86½ 28¼- 32 24¼- 31¼ 27 - 28¾ 26½ - 28 26 - 27½ 26¼- 30 26 - 27~ 26 - 8! 32¼· 42 35¼- 40!,. 86 - 89~ Amer·ican Linseed...... 10 - 12 9 - 10 8¼- 9 8½- 831! 7}2- 8 7 - 7½ 7¼- 9¼ 9½- 15 12 - 12½ 13 - 15 14 - 2u~ 16 - 18 Pref... . ..... .. . .... . ..... 28 - 21J½; 80 - 30 80 - 80 28 - 28% 27½- 28 2-2¼- 23 29½- ~9½ 30 - 85)1! .... - .... 86 - 37½ 37 - 42» 42 - 42¼ Ame1·ican Locomotive 16¼- 23 19%- 23!Xi 2 L¼ · l:ls:xi 18¼- 22½i 17¾:- 20½ 18½- 19% 19¼- 2:l¼ 20 - 22~ 20½- 28¼ 25}.!- 30¾ 2~¼- Sti~ 30 - 86¾ Pret.... ....... . . .. . . .. .. .. 76½- 80½ 77 - 80 79 - 83 80 - 82¼ 81 - 84 82 - 83½ 82 - 83 88 - 90½ 90 - 97~ 95½-100½ 97¼-105 100¼-1049ti American Maltinii...... 3 - 4¾ 3½- 4 3¼- 4¼ S - 8 2¾- :.!¾ 2½- 2½ 3 - SX! 8 - 4l-!- 4 - 4-~ 4 - 5X? 5 - 'i'¾ 6 - 9 Pref .... .. ....... .. ... .... 17 - 22 18¼- 20 19 - 20½ 17 - 19¼ 16¾- 17¼ 16 - 18 17 - 18 17 - 21 19 - 21% 20½- 23:}.i 21¼- 28 25¾- 29 Am. Smelt'g & Uefin'g .. 47¼- 51½ 46 - 50 46 - 49~ 48 - 49¾ 48%- 58½ 51¾- 55 53¾- 58¾ 56¼- 65 63¾- t'8 65 - 73¼ 69~- 8~ 75¾- 82¼ Pret......... .... .. ........ . 8~¾- 9!½ 89¼- 93¼ 90 - 93 92¾:- 95~ 94¼- 97¾ 9ti¾- 98'h, 96¾- 99¼ 99 -107¾ 1U6 -110 1C6 -115 110 -116 110 -114 American Snuff..... .... .. 110 -1~0 110 -120 112 -112 117 - 119 119 -119 120 -120 119½-120 129 -135 185 -135 140 -155 160 -liO 160 -170 Pref......................... 85 - 91 87¼- 87¼ 86½- 90 90 - 91 09 - 90 88¾- 93 89½- 91½ 90 - 1!8 96 - 93½ 95 - 97 95 - 99~ 90¼- 99¼ Amer. Steel .l<'oundrlel!I 5 - 5 ... . - .... . . .. - . .. . . ... - . .. . . ... - .• . . 8½- 4¾ 8¼- 7 5%- 6 6)4- 8¾ 6¾- 8½ 8 - 15 11½· 15:¼ Pref ...•........... ······ · 88¼- 88½ .... - ••. . . .. - ... ... - •••...•• - • •. 27 ·28¼ 26 - 85 82 - ll5 SJ - 39 Si - 39 36 - 51% 49 - 5~ \.mer. Sui;rar Ret. Co ... 123¼-131¾ 122¾-128 122¾-128¼ 126 -129 124¾-128}i t25 -128~ 127 -130¾ 1287-(-134~ t29¼-1SS 131 -14.6 141~ ·153 184¾-151¼ Pret .. ... ........... . ...... . 123 -126¾ 123!),f-126½ 124 -125½ 125½-126¼ 125 -127 125 -130 127¼-129¾ 130 -136 133¾-184 132 -137 136½- 141 137 -140 Amer. Tel. & Cable Co. 82 - 86¾ 83½- 86 84½- 86 06 - 87 86¾· 90 86 - 92 91 - 91 90 - 91 89 - 93 91 - 93 91½- 94 91 - 95 Amer. Teleph. & Teleg. 126 -130 121 -126 124)4-124¼ 123 -126¾ 126 -126~ 125.l,( 131¼ 128¾-133}4 136%-189:Jt. tSi¾-140% 189½ 145½ 143 -149½ 14.6~-14!:19' Amer. Tobacco Co., pf .. 138 -135 130)4-132 ta4 -185 184 -135 . .• - •.. . 187 -139 188½-140 135¾-140 140 -14.7 140 · 146 143%- 149 147:)4-148 Am. Tobacco (ne~v) pt . . .... - .. .. .... - ........ - .. . ... - .. . . ... - . . . .. - ...... - ........ - .. . .. - .. . . 85½- 86½ f-3~- 95 87 - 96 American Woolen Co ... 10 - 12¼ 10 - 10¼ 10½- 10¼ 10½- 11¼ 10 - 11 10 - 10~ 10¼- 12¼ 12 - 14 14 - 14!,i. 14¼- 21 17¼- 25 20 - 28" Pret. .... .... .. . ............ 69 - 71½ t.9¾:- 70½ 69¾- 75 74¾- 75:½ 74 - 75 74 - 75:½ 76 - 77 78 - 81 81 - 83 81!/4- 81½ 83¼- P4 89 - 94M A8soclat. Merch., 1st pt . ... - .... . ... - .. .. .... - . . . . 92¼- 02½ . .• - .. . - . . . .. •• - ... . .... - . . . .. . - . . . 90 - 92 91 - 92½ P5 - 96 Brooklyn Rap. Tt·ans.. 4~- 52¼ 83 - 47¾ 88¼- 44¾ 43½- 48¾ 43¾- 47¾ 46¾- 49¼ 49 - 58 5()%- 55¾ 53%- 57¾ 56hr 69¾ 68¼- 70½ 66 - 69 Brooklyn Union Gas . .. 11!7 -209¾ 190 -190 185 -199" 195½-223 210 -227 210 -215 215 -215 217 -217 219 -223 222 -229~219 -220 203 -222 Brun 11. D ock & C. lmpt. 6¾- 7 6 - 6¾ 5¾- 6 6 - 6!4 5%- 5% .• - • •• . 5 - 5 5 - 6¼ 6 - 7¼ 7¾- 8½ 8 - 11 10 - 12~ Butterick Co ... .......... 49 - !l9 47¼- 49¼ 48!J:{- 49¾ 49 - 49 49 - 49 . .•. - ••. . 48¼- 48¾ 49 - 49½ 48¾- 49¾ 49~- 50½ 50 - 60 59¼- 62¾ Cent. & So. Am. Tel'u;'h .... - .... .... - ........ - .... 103¼-103¾ 103 -103¾ 104 -lOi 108½-104 102¾-108 105 -107¾ 106 -107~ 116 -116 117 - 120 Chic. Union Traction... 5 - 7~ 4¼- 5¾ 5 - 6¼ 5¼- 6¾ 5¼- 6.½i 5)4- 7 4 - 5 4.¼- 8¼ 6½- 8¼ 6½- 10~ 8%- 15~ 8¾- 13¾ Pref.. ;... .. ... ............. 80 - 33¾ 29¾:- 31½ 80 - 82½ 80¼- 30½ 29 - 30½ 29½- 29¼ 29 - 29 30 - 40 36 - 40 39 - 39½ 37 - 48½ 3'3 - 45 Commercial Cable ...... 163.l,t;-190 186¼-193 187 -191 170 -187 . - ... .. ... - .. •. 180 -180 . ... - . ... 200 -210 ..•. - ... . ... - ........ - •••• Consolidated Gas ........ 189 -196½ 185 -196),( 188!,t-201 t97 -210½ 202¾-212¾ cl88¼204~ 192 -11:16¾ 193¼-197¼195¼-2ll 209¼-220 214 -219½ 193¼-21~ Rtirhts.... . .. .. . . . . . . . .. . . . . - . . . .. .. - . .. .. . . - . . . . . . . . - . . . . .. . . - . . . . 15 - 18½ . . . . - .... . . .. - . . . . .. . . - •.. . . . . - .. . . - . . . . . . - ... . Cont'ntal Tobacco, pf .. 101¼-109½ 101¼-105 106 -108 10~-111 109¾-111% 112 -114 112¼-115 114¼-124½ 120¼ ·125¼ 123 -126 12! -130 127¼-131 Corn P1·oducts. .. .... .. . 17¼- 22¾ 17 - 20¾ 12¼- lS}fi 18 - 13¾ 9~- 18 10!,4- 11 11 - 13.½i 11¼- 14\l:t 13 - 16 · 15 - 18% 17~- 26,:4 19¼- 24 Pref ..... ........... . ....... 68¾- u~ 69 - 72!4 65 - 72 70¼- 71¼ 65 - 7(1% 65 - 68½ 67:¼- 70:4 66 - 69~ 69¼- 71¾ 71 - 77~ 72¼- 82),( 77¾- 81~ Detroit City Gas........ . 75 - 76.½ 74¼- 76 73 - 75 72X1- 73 70 - 73¼ 70¼- 70¼ .. .. - ........ - ....... - •••..••• - •• •. ..•• - . . .. .. . • - .••• Detroit United Ry....... 65 - 67½ 61 - 65 61 - 65 131¾- 64½ 61¾- 62¼ 60¼- 61¾ 62 - 68 04¼- 6~ 66 • 71¾ 70 - 7f.!4 73~- 79~ 77 - WM Diamond Match .......... 127¾-128 .• - ••.. 128 -128 .•.• - .... 129¼-129>2 129 -129 181 -131½ 132 -132 .• .• - •••..•.• - .... 141 -142 - •••• Distillers Sec'a.'s Corp.. 28¼- 26¼ 22!J4- 24~ 28 - 24¼ 20¾- 25¼ 20 - 22!,t 19¼- 2~.t' 20¾- 22~ 21¼- 27¾ 26 - 80¾ 28 - 34¾ 32M- 39½ 85)4- 40¾ DlstUllnir of America.. 2¼- 2¼ S¾- 8¼ 8 - 8 . ... - ••.....• - ... . .... - .. . . ..• - ........ - ........ - •....... - ........ - .. .. . .• - •••• Pref.... . .. ... ......... . .... - ....... - ... ... .. - ... . .. . - ... .. ... - ........ - ... . .... - •....... - ........ - .... 40¼- 40¼ 50 - 50 .•• • - •••• Elec. S1oraiie Balter)' .. .. .. 82 -118¾ .••• • •••• ·•• · Federal Min. & ~melt . . . . . 43~- 62~ 09~- 68 Pref ............................ • 71 - oo 7o¼- 86 c Ex-rights https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ....... .... - ........ - .... .... - .... .... ........• .... ... - ........ - ....... . -- .... .... -.... ... - ........ - ........ - ........ - ....... - ........ - - ........ - - ........ RAILROAD AND MISCELLA TEOUS STOCKS. 110 J 90,t-C:oncloded. JANUARY FEBR'RY. MARCH. APRIL. MAY. JUNE. JULY. - - - - - - - - - - - - - - ---- ----- -General Chemical. ...... 55 - 58¼ 43¼- 55 43 -4~ .... - ... . .... - .. . ... - ... 49 - 50 ... 94 - 94 .. . 94 - 94 95 - 00 Pref.... . ... . ... ........ .. . .... · •• · - . .. STOCKS. AUGUST. SEPT'BER. OCTOBER. Nov'BER. DEC'BER. ---- --- Low.H!irh Low .Hi11:h Low.Hieb Low.Hillh f.,ow.Hlirh Low . H l,rh Low.High Low . High Low.High Low.High r,ow Hl11:h Low.High - - - - ---- - - - 50¼- 50~ .... . ... - .... .... - . . 60 - 60 94¼- 95 91 - 95~ ... - . ... 00 -100 1(10 -101¾ General Electric .. ...... 169¾ 179)4 156¼-172 159~-170 159¾-165 L52 -159 t,151-159½ 156 -166¾ 162 -166¾ L65 -176 170 -178).4 li2¼-194½ 181¾-192 .. . .. - . 41'- 5¾ 5¼- 6~ . ... - ... . ... . . .... .... ... ... . - .... .. Rlght111 . .. . . . . ....... .... .... - . . .. .... - . · ·• - .... . ... . - .... .... - .... . .. - .... 115 -115 · · • - ... ... .... - .... Gold & Stock Teleir'Ph .... ... .... .. ... .... . ... . 97 . .. . . ... . .... H.B. Clo.Bin Co .. .. . .. 97 .... · ••,1 ·• • · .... - ... 89¾- 89~ ... . .. 1st pref . ............. . .... - .... . ... - .... . ... . ... - ... .... .... . ... .... .. .. - . ... - ... . .... - ... ... . ... . ... - ... ... - .... 2d pref ..... . ............. .. ... ...... ... .... - . .. . 95 - 95 95 - 95 ··•· International Pa.per.... lOM- 1~ ll - 18¾ 11¾- 12¾ 11 - 12¾ 10!,4- 11¾ 10¼- 11~ 11~- 14¼ 13¼- 15½ U¼-18 16¼- 19¼ 17¼- 22 19)4- 25¾ 77 - 79" 76~- 79¼ 64¾- 67¾ 64¾- 66¾ 64¼-65¾ 65¼- 6i~ 65)4- 66),( 66¼- 69~ 60 - 70¾ 70~- 18¼ 78¾- 76¾ 74¼- 79 P1•ef . .. ······· ····· . Interna.tiona.l Power .. . .... - .... - ... . 26 - 28 26¾- 26½ 27 - 81~ 82 - 35½ 84½- 3iJ,( 37¾- 87¾ 36 - 41½ 41¾- 70~ 57¼- 62!,4 60"9- ';2.!-9 In tern at. Steam Pump 81 - 87 35 - 85 35 - 38 89 - 40 87 - 38 29 - 86½ 80\i- 33¾ 30¾- 32 23 - 33 33½ · 88 8~¼- 41~ 87¼- 40¾ rn - 76 78¼- 77¼ 75)4- 77¾ 75.' -'- 79 78¼ -79¾ 79 - 87 85 - 87 74 - 76 75¾- 78 •Pref . .. .... . .. ........... . 72 - 72 71½- 72 74 - 75 .... - .... . ... .... 8 - 8 9 .... - . ... .... - . .. ... - . 8¼- 12X! 10 - 11 10~- 11!,( Knick. Ice Chicairo>-·. 9 R4~- 6!¾ t:4 - 65 Pref ........ . .. .. ........... 48¼- 48~ 51 - 52 55 - 55 - .... - .... .... · • • · - . .. 60 - 66 95 .... ... 100 91 . .. .... - .... -100 LOO -100 . ... - . - 97¼ - 91 Laclede Ga.11, St. L., pt ... - . ... 95 -104 - ... .. .. - . .. . 10 8 .. 7 . 8 ... 7 8 9~ .. .... 6¼.. 10 -14¼ Manhattan Beach Co .. - .... 9¼- 9¼ 75 - 80¾ 79¾- 90 76¼- 82¾ 75 - 79 87¼- 00¼ 76¾- 89¾ 79¼- 88 79¾- 83~ 75 - 88¾ Metropol'n Securities.. 87M- 92 83 - 89;):f 72¾- 85 Metropolitan Street ... LtO - 124 lt4 -120¾ 104~-115~ 110¼-117~ 107¾-112 106:)(-1141' llll,:(•118¼ 117¾-125¾ 118~-123~ 118¾-18~ 120~-125:14 116¼-126¾ Met. W. S. El. (Chic.) ... 16 -1~ ... . - . .. 14¼- 15 - ... .. - ... .... - . .... - .. . ·•·· - ... . .. . ... - ... . . - .. . 28 - 23 .. 46 - 50 .... . ... 53 - 53 .... - .. 59¼- 59½ .... - .... .... . .. . 62 - 67 .... - .. . 50 - 50 45 - 46 Pref................ U¾- 46¼ 45:k;- 49~ 46:)s- 48~ 47 - 49 ~ 49 - 49~ 49~- 59¾ 54"(- 58!,( National Biscuit ......... 86 - 40¼ 81}~- 40¾ 40 - 45 42¼- H 42"- 45 100)4-103 lOl½-103½ 102 -104),§ L04¼-105¾ 105¾-107)4 106 -106¼ 107~-108¼ 108)4-109~ L06¾-109¾ 108 -111 112 -117 116 -116¾ Pref.................... 18 - 19¼ 18 - 18½ l~- 17¾ 14~- 17 14~- 15½ a - 15 14 - 19 Nat. Enamel. & Sta.mp. 17 - 21 18½- 20¼ 18¾- 20 17¾- 28,½ 21~- 2S!ki 79 - 79 79 - 79 79 - 'i9 80 - 80¾ 75 - 78 79 - 82 82 - 83 Pref......................... 78 - 83 82½- 82½ .... - .. 85 - 87 85!,:(- 86¼ National Lead Co ........ 14¼- 16¾ 14¾- 15¾ 14)4- 15l}f. 15 - 19¾ 16'!4- 19>,i 19 - 22 20 - 24¾ 19U- 24¾ 23 - 24'.¼ 21¾- 26¼ 23 - 26 22 - 25¼ 91 - 94¼ 91½- 95 923,(- 96~ 95½- 96½ 91 - 98 96¾- 98!,( Pref........................ 80¾· SO¼ 83 - 84¼ 84l,:(- 8,H~ 87 - 91 90 - 91 94!,(- 93 New York Air Brake .. 132 -13~ 120 -184 120 -133¾ 130¾-136½ 128 -132½ 130 -131¾ 125 -12J~ 127l,:(-139J.!i 135~-139¾ 132¾-13S¾ 185 -164 150 -164 . .. 20 - 20 N. Y.Dock ................. .... - ·•• · .... - .... · ••· - . .. . 16 - 18 16 - 16 . ... - .... . - . . 14 - 14 16 - 28 25 - 25~ .. 40 - 40 .... Pref ........... ........... . ... . - .... 41 - 41 .... .... 40 - 40 39!}.(- 39¾ 45 - 45 43 - 43 .... .. 45)4- 50¾ 54 - 60 N.Y.& .J. Telepb .... 150 -150 140 -140 145 -145 L.13¼-143½ U3 -144% U3¾-145 145 -147¾ 150 -158½ J.54 -158 155¾-158¾ 167¼-160 165 -168:1:t' ,1 .... . ... .. . . ... - .... . ... .... Rlirhts . . .. ................ 3¾3¼- 4½1 .... - ... . ... .... - . ... . - . ... ... - .... No. Am. Co., new ■ tock 82 - 90 81 - 87 80 - 87 82~- 85¾ 81 - 84½ BO~- 86 85).4'- 90 87 - 9311! 92 - 96½ 94 - 97½ 95 -107 9i -lOi¾ 26 - 28 25 - so 28¾- 85 Pacific Mail S. S ... ...... . 25 - 33¾ 24 83 - 40¾ 87 - 55 89 - 49~ 24 - 2734 25 - 27 26~- 30 25¼- 29 Peoples' G.-L.& C., Ch. 95¾-1(2¾ ~-101¼ 92¾-10~ 9~-100~ 94¼- 97¼ 95 • 98~ 97¾-101½ 99:1(-102:1,1 100¾ -101¾ 101¾-110~ 1061'-112!,:( 103¼-112¼ PreHed Steel Car ....... 27 - 33 26¼- 30¾ 27 - 80¾ 24¼- 30~ 24¼- 27½ zi>,,.- 27¾ 26~- 34 32 - 34 31½- 85 29½- 44¾ 29¾- 41~ 34¼- 41~ Pref... ... ............ . .... 69 - 72½ 69 - 71½ 69¼- 70¼ 70 - 72 67 - 71¾ 68 - 71 71!14- 77¾ 75 - 77½ 77½- 81~ 78¼- 84¾ 80 - 91¼ 87 - 92 Pullman Co. (The) ....... 215 -219½ 210 -215¼ 20~ -210¼ 'l!O -2L3 210 -2U 2ll¼ ·218 220 - 222 217 -220 216½· 220 225 -231 225 -242 231½-210 16 - 18 Railway Steel-Sprlnar.. 21!'.(- 23!,:( 19 - 23 20¼- 24½ 18¾- 21 16%- 17¼ 17 - 20½ 19 - 19¼ 19¾- 24~ 22 - 27¼ 24 - 35 29¼- 34¼ 72 - 76 73 - 75 75 - 80 78 - 81 76 - 78 Pref ....... ············ 73 - 76~ 75 - 79 75 - 76 71¾ · 7& 79¼- 87½ 8!¼- 9J 89¼- 9-1 Repub. Iron & Steel ... . 6¼- 8!):( 7 - 8¾ 7 8 6 - 7 8 ~- 6~ 6½- 8½1 ~ 7:J:( 1½- 97,( 9 - 13 11>(- 18~ 14 - 18 n~- 48 Pref ........................ 4()¼-49½ 41 - 45 41J.{- 41 37 - 42~ 83 41¼- 45 42¾- 467,( 4.7 - 51'.h 53 - 78½ 65 -71¾ 41 - 46 18¼21 17),.(22¾ 18¼- 20~ 14:Ji- 19311 15 - 16½ 15~- 161,( 16 - 19~ 17 - 19 17¼- 22!,:( 20 - 2!~ 21%- 25;. 24¼- 29¼ Rubber Goods Mfir .... . Pref ... ...... ... . ....... ... 74¾- 71J.l,,. 78 - 78 75 - 77¾ 76¼- 79~ 76J.(- 77~ 76 • 78 81 - 84 83 - 89¾ 84¼- 98 90 - 98 77~- 79½ 79 - 82 SloH•Shemeld S1'l & I. 81¼- 39 36 - 89¼ 85¾- 89:}:. 39 -!ll¾ 85 - 88 34."9 S6~ 3!1 - 39¼ 37 - 88¼ 37¼- 41 41 - 49:J.t 47:14- 65~ 57 - 6-1 83~- 81 82 - 89}s 83 Pret ....................... 77 - 79).4 79)4- 81 80 - 8~ as 84¼- 85 86 - 87 87 - 90 89!,,(- 97 97 -102 101¼-105 1 Stand. Rope & Twine .. 1'- 1 ¾- ¾ 1 2~- 4¼ ¾- ll,:( 1 - 1~ 1 - 2½ 1¾- 2¾ 2!,,(- 5 u- 1~ 13,s- 11' ¾- 1 27 - 27 28 - 28 25 - 25 Tesa■ Pac. Land Trust 28¾- 29 :IB¾- 28¾ 25 - 2i 25½- 30¼ 29¼- 31 so - 88}4 83 - 3!~ 82¼- 393,6 34¾- 39¾ Third A venue .... ........ 120 -1241,t L19½-12~ 115 -121~ 119 -121¾ 120),.(-120~ 116),.(·121~ 119 -122¼ 121½-126),.( 122 -1~ 128¼-18i 180 -132 180¾-182 Toledo Rys. & Llirht.... 22 - 22 20 - 20 20 - 2L !,. 19 - 21½ 18¼- 2014 17¼- 18 19 - 21¼ 20¾- 21 20¼- 28~ 22¾- 27¼ 21>(- 26~ 22¼- 23~ Twin City Rap. Tran... 881'- 95~ 87¼- tl2¾ 87¼- 92 ;. 91~- 94 93 - 95!,( 98¼- 95¾ 94¼- 96 95 - 99½ 001'-101 ll9¾-107!'.( 10,34-101~ 108¼-107¼ ... . .. Pret ........................ - .. .... - .. ·· • ... . . 159½-159¼ 158 -158 158 -158 . .... 165 -166 . 5J,.t 4~- 4% 4 - 4J., 4¼- 6 4 Union Baar & Paper ... . 5 4 3¾- 4)1i 4¼- ~ 63,r 8 4~- 4!'4 4 1½- 13!,,( 8 - 12¼ 50 -f-8 45 51 52 52 - 50 55 - 71~ 65 - 68 50¼- 58¼ Pref ....... 53 - 63 - 53 45¾- 58 - 54 - 52 68 - 7534 7834- 75 .... 96 - 97 P6 -llllx 100 -.l08 JQS¼-111 L00½-112¼ . United Fruit ............... .... .... - · ••· 104¾-105~ 101 -108¼ 104 -109 9),.(- 9¾ 9¾- 10¼ 11 - 153' 14!14- la 9 - 11~ 9 - 10 9 - 10~ UnltedRya.Inv.ot S.F. 11 - 12 14¼-1~ 16¾- 21!,jj 21¾- 25 Pref....... . ............... 44 - 47% 43¾- 47 43%- 41~ 42¼- ~ 44 - 46!,,( 44 65 - 69 47¼ 47~- 49 48½- 56¼ 55¾- 5~ 56 - 62 60¾- 67 V. s. Ca■ t Ir. Pipe & F. 7 - $v 6'.(- 7¼ 8 8¼ ~ ~ 6¾ - 7 ··•· - .... 73,t- 8¼ 7¼- 10 10 - 12¼ 12 - 14'.h 12¼- 19¾ 16½- 20½ 4.0 41¼46 41 40 - 42~ 42 - 42 ,Pref•...................... . - 42¼ 1.1 - 43 47 - 50 - 48 49¼- 55 55¾- 5~ 59¾- 65!Ji 61~- 80),t 753,s- 81¾ u. s. Leather ............. ~- 8!4 ~- 7¾ fl¾- 7¾ ti¾· 1½ 6¼- 7 ti¼- 7 6~ 1¾ 7 8~ 7½- 10~ 9¾-1~ 11¼- 15 13~- 20J( Pref............. ·-········ 75¾- 79:lr, 75%- 78 77 ~ 78¾ 78 - 8(1~ 79 - 80 797,(- 81¼ 80 - 8-i!,:( 82¼- 86" 85:1(- 88>4 87~- 92¼ 90¼- 00 95¼-106¼ 7~ 6!,4- 7~ 5¾- 6¾ 5¼- 7!4 ,u. S. Realty & Con ■ t'n 5¼- 9% 7 .... ... . ... .... 8¾ 5¼- 71h 6 Pref ........ . ........... . .. 40 - 56a 49 - 57¼ 45½- 53~ 50>4- 59 57¾- 68¾ 57~- 60~ 58 - 62¼ ... .... . ... . ... ... U.S. Realty & lmpt .... - . 43 - 50 4.7 - 53½ 52 - 63 60¾- 65 62 - 843,t 77 - 82¼ - . ... •• · ... - . .. .... .... · • · . .. V. 8. Red. & Ref., pref - .... ... .... · ••· - ... . ... - ... . 36¼- 36¾ 40>(- 4.0~ · ••· U. 8. Rubber Co ......... lOJ(- 14¾ 10½- 18¾ 11¾- 13~ 12%- 17¼ 15¾· 18¼ 1~- 17 16 - 191' l~- 19:14 18;.(- 21~ 22 - 30¾ 2714- 34~ 27¼- 843' Pref ........................ 41 - 54½ 46¼- 52 47¾- 55¾ 66 - 68!4 61¾- 69 65!,t- 1!6¾ 65¾- 78¼ 73¾- 76 73¼- 76 76 - 85!4 88¼- 92!'.( 89 -100 .U.S. Steel Corporallon 9¾-~ 10¾- 11'4 10¼-· ll¼ 10¾- 12 8~- 1~ 8~- 10 9!>4-12"'~ 11~- 12¾ 12¼- 18¾ 17¾- 22" 19%- 32¾ 23¼- 33~ Pret- ..... . ................. 54¾- 60 54¼- 58¾ 51:¼- 59x, 55~- 62½ 51~- 56 52¾- 56~ 55¾- 68¼ 57M- 61~ 61¼- 74~ 73¾-83¾ 79¼- 95l,:( 84 -9~ Va.-Car. Chemical. ..... 27 - 84~ 27~- 83➔-i 28 - 31~ 2;$¾- 80¼ c26~- 28~ 22¾- 27 23 - 27¼ 261'- 88~ 32 - 37½ 3SM- 3934 37~- 44 38 -4~ 98 -1063' 100 -106 10-i½-105½ 97¾-104 100 -102 100 -101% 96 -101~ 101 -107¼ 1063,s-10!% 106 -112 110¾-116 110 -114 Pref....................... .. - . ... - ... .... - ... . ... ... .. ... . 'Vulcan Detinnlna....... . 2¾- 10!,,( 81' · 11 . - .... . ... .... .. .. ·• • - .. .... - .... . - ... Pref ............ . . ......... . .... .... 45 - 45 .... .... . ... ··•· . Western Union Tel'irh .. 86 - 89 86¼- 88" 87¾ - 89¾ 88¼- 89!4 85 - 891):i 86 - 87¾ 861'- 88% 88~- 90 90 - 92!,4 90¾- 93 90¾- 98 91¼- 94¾ We ■tlnirh. El.Mfir.aH't 161 -178¼ 154 -167 157 -165~ 155 -163 153 -157 lM¾-157¼ 156 -165 156 -161¼ 160 -169 164 -173¼ 167 -184 176 -185 • • . l~ -19a 1st pret. ................... 192 -19i · • • · - ... · • ... L90 ·190 . . 180 -185 190 -190 190 -195 190 -198¼ 190 -197 .... .... .... .... .... .... ... .... - .. ... - - .. .. .... - .... ... .... ... - . .. .... - .... .. - .. - ... ... - .. .... - .. - - .... .... .... .... .. .. .. .... .... - - .... - .... - .... ... - .... - .... .... - ... .... - ... .... . . - .... - .... .... - .. - .. -. .. ... - .... ... - ... ~ ... . - -. .. -. ... - ... -~ ~- - -~ - .... ................ .... - - ' ·•·· - ... - ... - .... ... .... ... - .... - - - .... .... ... - .... .... - .... .... - .... - .... - .... . .. .... .... - .... - . ... - .... - .... .... ... .... - .... - .... ... .... - .... .. .. . ... - .... - .... .... - .... - b EI•dlv tdend and rl1iht.a. ... . .... - .... - c:Ex rights. - .... .... .... ... - .... ... .... ... - .... ... - .... ... - ... 190:.. STOCKS. JANUARY FJ:BR' RY. MARCH. I .A.PRlL. ·- - -· - - - - .MAY. JUNE. JULY. 1 AUGUST. BEPT'BER. OCTOBER. NOV'BER. DEC'BER. Low.High Low.High Low.High Low.High Low.Ht11:h Low.High Low.High Low.Higb'Low.Hlgh Low.High Low.High Low.High - -· ---- - - - - - ... - .... .... ... - ... .... .... ... . .... ... .. ... . .... RAILROADS. Ann Arbor .. .'............... 35 - 87¼ . - . .. . 34 - 85 . - .... - .... . - .... - . 70 - 14 Pref........................ 75 - 75 76 - 79 . ... - ... 66 - 70 74 - 76 - . .... - ... 753,s- 75¾ - . . . - . &tchl11on Top. & 8. Fe . . 8'¼- 88-U 8~-b91 86M- 93¾ 82 - 91¼ 77¾- 8~ 78¼- 84!,( 83)fj- 88 86~- 91¾ 88~- 9ll4 873,s- 90¼ 82 - 89 85¼- 89¼ Pref ........................ 99 -102 101 -103!4 102 -104>( 101¾-1031' 101¼-102½ 101~-104~ 101¼-103 102¼-105% 1043,(-105tt 108!,4-105~ 102 -104!Jt 103 -105~ Rlirbts..................... - ... .... - .... .... -. ¾- .... .... - . . . .. .. ... . .. . . ... ¼- " ' ¾- % Atlan. Coa ■ t Line RR. 120 -125 121¼-126':( 125¾-U5¾ 142!'(-170 146 -159» l48¼-165 155 -164½ 169¼-170 161~-169¾ 160~-167¼ 156¼-167 157 -164½ Baltimore & Ohio ....... 100¼-106 102 -1~ 107¼-lll¼ 104 -111¾ 104¾-109!,t 10; -114¾ ll~-115!4 112¼-117 110%-118% 110'1A-1U~ 108'4-114¾ llO¼-lU¼ Pref ................... . ... 95¾- 97 97 - 98 91 - 97M , 95'(- 97~ 00 - 97~ 97 - 97¼ 97¼- 99 97 -100 97¼- 9~ 97 - 98¾ 97 - 97M 97 - 98~ Bua. Roch. & Plttab .. . . 154 -169 .... - ... . - . 150 -150 150 -150 -157½ - .... 158 -158 L53 -156 Pref........................ 159 -160 100 -160 ... . .. . ... - .... ·•• · - .... 164¼-164~ 158).4-16814 Rlirbts .................... 5 - 5!4 5~- 5% . ... . . .. ... . .. .. . ... . ... . .... - ... . . - .... .... - .... . .. . Buffalo & Suaq., pret•.. 87¼- 89¾ 88 - 89¾ 88 - 90¼ ~-91 90~- 91~ 89¾- 90~ 89 - 91 86~- 91~ 87 - 89 .... - . ... 86 - 66 84 - 84 Canadian PacUlc. . . .. . .. 13()¼-134¾ 133 -141¼ 137 -150!,:( 145 -155¾ 141!,(-1507,( 14.5 -152:)s 149 -156).4 154¼-165~ 159%-17~ 168%-176 168¾-17~ 171¼-176 Certificate ■ .••.•••.•••••. 129~-130~ 13()½-UO~ 189>(-148],,( 151¾-154¾ 1467,(-14-l¾ ... . ... ... - .... -... . - ... .. - .... Oanada Southern ....... 6~- 721' 69¾- 70¼ 69~- 72 I 69¼- 11~ 68¾- 'iO 68¼- 691' 68%- 68% 69!1:(- 74M 68~- 69 68%- 71 67 - 69¾ 68½- 73¼ Central of :NewJeraey. 190],,(-196¼ 196 -205½ 198¾-203¼ 194¾-204½ 190 -198;( 196 -204 199 -204½ 202¼-220 210 -216 210 -235 220 -232 220¼-228 Chesapeake & Ohio ..... 46¾- 50~ 49¼- 52 i9¾- 60¾ 49¾- 59¾ 45¾- 51¾ 47¾- 58¾ 51¾- 55~ 54 53 - 59½ 54¼- 59¾ 51 - 56 58¼- 57 Ohlcairo & Alton ..... .... 40½1- 43¾ 41~- 43¼ 88ff- 44¼ 82¼- 42¾ 81 - 35~ 85 - 86 35 - 87¼ 35J.B- 42% 851'- 86¾ 34 - 36¾ 32¼- 84 so - 83;, · Pref ....... ... ···••· · .. 80 - 83~ 82 - 82~ 80 - 83!,( 80 - 83~ 77¼- 79¾ 77~- 81~ 78¾- St so"- 81M .... - . .. 75 - 79¾ 76 - 77~ 753,t- 'i6 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis .... - .... .... - .... .... .... .... .... -- .... .... ... ... - .... .... " ··-· .... .... -- :::r~ ....... - .... ... ... - ... .... ... - . ... ... ... - .... ... -. - .... .... .... - ... .... .... - .... . -~ - - .... - .... - .. .... .. .... - .. .... I II RAILROAD STOCKS. 190:;-continued. J.A:-.UA.RY FEHR.RY. - - - - - - -- ~TOCKS. ---------- M.ARCH . APRIL. MAY. JUNE. JULY. AUGUST. i3EPT'BER. OCTOBER. Nov'BER. DEC'BER. - - - - - - - - - - - - - - - - - - - - - - - --•--1-----1---- Low.High Low.High Low.High !,ow.High Low .High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Ohle. Burl. & Quincy ... 210 -250 l!50 -250 280 -285 n5 -215 Z02 - 202 205 -205 201 -205 . . . • - . . . . • . • - • . • . .• • . - • . • . . • • • - • . • . . . . • - . ..• Ohle. & E. Illinois, pre1 . ,42 -143 142 -142 . . .. - • . . . . .. . . . - . . . . . .. - •...... - . . . . . .. - . . . . .• - ... . . •.• - •. •. 135 -135 ...• - ..•• Ohlco.iro Great We8t ... . 21%- 241' 22 - 24½ 22 - 25¼ 19¾-- 24% 17¾- 21¼ 18!,4- 2~ 19),4- 21 20 - 22~ ~ - 22 21 - 22¾ 19~- 21% 20¼- 22 4 per cent debenture. . 85 - 86 85 - 86¾ 86 - 88½ 84¾- 87 83¾- 87 86 - 86\t 84¾- 85 84¾- 85 84¾- 89 8~- 88¾ 8~- 87¼ 85:1:( - 86¾ 6 p. c. pref., A.......... 65½- 68¾ 66½- 67J.i! 62¼- 67¾ 68¼- 70¼ 60¾- 64¾ 60 - 65 68 - 65 64 - 7~ 72 - 78½ 74¾- 78¼ 74¾- 78½ 78 - 77 4 p. c. pref., B..... . . . . 32¼- 85% 84¾- 37¾ 34 - 36¾ 82 - Si¾ 29 - 32~ 29¼- 32¾ 81 - 32¾ 31 - Si\½ 38½- 36~ 88¾-- 86¾ 88¼- 85¼ 83¾- 85¼ Chic. Ind. & L., pref.... .. .. - . . . . . - ... .... - ........ - ... . . . - .... 88 - 88 .•. - •• . . .. - ... . ... - ... .. .•. - •... 88 - 88 .... - .. . Ohle. Mllw. & St. Paul .. 171¼-178¾ 175).t;-181 173¾-183!J4 170¾-187¾ 168¼-179¾ 170¾-178 176¾-182!,t 179 -187 175 -184¾ 178).t;-183 172¾-181¼ 175¾--182¾ Pref ............ . ..... ..... . 182½-192 188 -190¾ 185 -192 185 -192¼ 188¼-188 186 -186 186 -189 186 -191½ 185¾ 190 187 -189½183 -189 186½-191 Ohle. & Northwe8t ...... 205¼-249 286 -249 236% -246¾ 225 -245 205 -238 a19Q¼-208 206 -212 212 -224'4 210,:(-218 214¾-22! ½213 -223½217 -224 Pret ....................... . . 234 -265 256 -265½ 257 -263 250 -262 250¼-250¾ . ..• - .... 2-!0 -240 2i0 -249 M4 -244 240 -2431>.1235 -235 240 -248¼0hlc. R. I. & Pacific .... . 170½-170½ 170 -171 ..• - . . . 170 -170 .••• - .. . . 164 -16i . .•. - . .. .. . - ....... - . . . . .. - .. . ..• - .... . ... - ... . Chic. St. Paul M. & O ... 150 -225 198 -211 195 -202¾ 175 -195 170 -185 173¾-188 187¾-190 190 -199 190 -192½ 190 -194 185 -188~ 185 -191¾ Pref........ .. . .. .. .. .. .. . 195 -230 205 -205 200 -200¼ . • • . - • . . . . .. - . • • . . . • . - • • • . . • • - . ... 197 -200 195 -195 . . .. - .. . . . . . - . . .. .. . . - .... Chic. Term'l Tran ■fer.. 7¾ • 19'1,l 14¾- 19½ 16¾- 19 17 - 19¾ 17 - 18½ 17 - 20 18 - 19!,e 17 - 191' 18 - 1~ 16¾- 19¼ 15¼- 19 14¼- 15 Pref........................ 17¼- 32¾ 27 - 85½ 31 - 36¼ 30 - 86 30 - 82~ 80¾- 41 87½- 42½ 36¾- 41~ 38 - 40½ 37¾- 41¾ 37 - 41¾ Sil - 40 Clev. Cln. Chic.& St.L. 90 -102¼ 94 -100¾ 97¾-lll 91 -1QSIJ4 93¾-100¾ 98¼-bW½ 96¼- 99 97 -104~ 99 -101 98%-101~ 93½-100½ 95 -108¾ Pref....................... 120 -120 120 -121 119¼-121¾ 118¾-118¾ 118 -119x 118 -118 115J4-120 .•. - .... 118¾-110½ .•• - . .. 117;14-118 .... - .... Cle-Ye. Lor. & \\' heel. .. 70 - 80 90 - 90 80 - 80 85 - 85 80 - 85 85 - 85 . .. - .. . . 72 - 72 . • . - • • . 80 - 85 • • • - • • . . 80 - 80 Pref.. . ................ .... . l o5 -10~½ 108½-110 uo -110 110 -110 .•.. - .... 110 -110 . ... - .. . 105½-105½ .... - .. . . . .. - ...... . . - ..• . .••• - . ••• Cleve. & Pltt8b. gnar .. 185 -185 184½-184½ 184½·184½ 183½-183¾ 1823(-182½ 182¾-183 183 -183 . . .. - .... 182 -182 183%-183% .•.. - •....•• - •••• Special ... . . . .. ............ 108½-108½ - . .. . .. - . . .. . .. - .. . . ... - .. . .. - .• . . ... - . . .. . .. - .. . . .• - • .. - .. . . ..• - ........ _ ... . Colorado & Southern.. 22¼- 25¾ 24¾- 26¾ 23 - 27 25 - 30¼ 24 - 28 261'- 27% 27 - 29~ 27~- 29¾ 27 - 28½ 27¾- 29¼ 25 - 29 · 28 - SO¼, ht pref.................... 60J.1i- 63 61¼- 64½ 59½- 62¾ 59 - 62¾ 52 - 58~ 57 - 51 58 - 63 61½- 1:1,1, ·60 - 62~ 61½- 68½ 61 - 64¾ 6!1 - 69%. 2d pret... . .. .. . .. ........ 35¼- 37½ 36½- 89½ 3 l - 37l':( 35 - 8914 82¾- lffi¾ 34¾- 87½ 37J,(- 40¾ 39%- U¾ 39¾- 46¾ 42 - 44¾ 42 - 44:1.( 447(- 55 Delaware & Hudson ... 180¼ 186 186 -196 187 -194¾ 183 -196~ 178¾-188 179¾-190¼ 188¾-194¼ 198 -225 211 -220¾ 214 -240!1.( 220 -237 220 -227!!( Rlirht••·•• .. .. . .. .. . . . . . - . .. . ... - . ... .... - ........ - . . . . ... - . .. ¼· 1 %- l ¼ .... - ... . .... - ... . . .. . - ........ - ........ - ..• . Del. Lack. & Western .. 335 -345 346 -358 353!,(-400 372¾-394 365 -384¾ 880 -881 380 -425>f 424~-470 450 -465 457¼-498½ 462¼-489 445 -460 Denver & Rio Grande. . 30¾- 8:3½ 32 - 34 82½- 86¾ 81 - 85¼ 27¼- 81½ 27¼- 80¾ 29¾- 8!¾ 81¾- 36¼ 83%- 37½ 83 - 35% 34 - 35\14 34¼- 8~¾" Pret..... . ......... ....... . 85 - 88'¼ 86½- 89 o7!!(- 91 85 - 90:J4 83¼- 87 85¾- 89¾ 85¾- 87¼ 86!4- 90 88¼- 90~ 86 - 89¾ Stl¾- 88[j{j 80½- 91¼ Dea Mo. & Ft. Dodire.. . 28 - 23 22 - 24 24 - 28¾ 24 - 25 lo - 18!4 21 - 24 21 - 23¾ 20 - 22¾ . • • • - . .. . 20 - 20 16 - 26 23 - 27!!( Det. So., vot. tr. ctta.. . 6¾- 9¾ 5 - 8~ 6 - 6¼ 4%- 6 ••• - •• •s - 10¼ 9 - 11¾ 9½- 10½ 10 - 12¾ 11¾- 12>t 11 - 11¾ 10 - 10¼. Pref. votlnir tr. ctfll... . 31½- 86 81¼- 36,t 31¾- 82 38 - 34 . . • • - .. .. *42 - 42 89 - 41 41 - 4.2 42 - 43 41¼- 42½ 86 - 41 37 - 87 Duluth So. Sh. & Atl .. . 12¾- 17~ 14¾- 16:U 15 - 17 13 - 1~ 11!!(- 14 12 - 15 14 - 16¾ 15 - 16¾ 13!!(- 16½ 16 - 16¼ 15¼- 22J.t 18%- 21¾ Pref........ . ....... .. .... 25 - 37 31 - 35¾ 30,:t- ~ 25 - 83¾ 21 - 27 24 - 20 28 - 81~ 30¼- 86)4 32¼- 36¾ 38 - 35U 35 - 44¾ 38%- 41¼: Erle-........ ................ . 87¾- 44~ 43 - 47¼ 44!!(- 48¾ 41 - 47¾ 37¼- 4.3¾ 39¼- 44'}{, 44%- 48¼ 45~- 62¾ 47%- 52½b46'¼- 50li 4.6J4- 50l':( 46¼- 4.ll¾ ht pref.. ................. . 76¼- 82½ 79¼- 81¼ 79¾- 83¾ 76 - 82¾ 74%- 79¾ 77¼- 82 81%- 85 83¾- 85¼ 81).t;- 83'4 050%- 82¼ 79¾- 82¼ 79½- 81¾ ~d pref................... 55¾- 67¼ 6!i¼- 66½ 65%- 71¼ 61½- 71¼ 61 - 67¼ 64¾ 71~ 70¾- 75¼ 78'4- 78% 72¾- 77)4 b71¼- 78¾ 70¼- 75¼ 71%- 75 Evansville & T. Haute. 68 - 72¼ 70 - 70 68 - 68 65 - 66 .•.• - ••. .• . •. - .... 63 - 65 65 - 75 75 - 75 75 - 75 . •.• - ........ - ••• • Pref........ . .. . . . . .. . . . . .. . . . . . - . . . . 90 - 90 90 - 90 . • • . - . . . .. • • - • . . . . . • • - . . . .. • • - . . . . 95 - 96 . • • • - • . • . . . . • - • •• . 85 - 90 .. • • - •• •• Ft. Worth & Den. City 44 - 46 44¼- 47 46¼- 61 61¾- 66 6S - 69 69¼- 70¾ 74 - 74 72 - 76 73 - 74 74 - 75 72¾- 72¾ •.. • - •••• Great Northern, pref .. . . 286 -254 250 -800 200 -310 270 -335 265 -296 278 -284 231 -294¾ 28i -826 311¾-827!¼ 314 -827¾ b264 -315 268 -292 Rlahta ....... ........... .. . .. - ........ - . . . . ... - ...... .. - ........ - ... ... .. - . . . .. .. - ...... .. - .. ... .. - .... .. .. - .... 83 - 35~ 33 - 84¼, Green B. & W .-Ser. A. 84 - 90 83 - 88½ . . . • - • • . . . • • • - . . . . . . • - • . • • • • - • . . . . . . • - • . . 85 - 85 .••• - . . . . . . • - . . . . 85 - 85 90 - 90 Deben. certs., l!!ler. B. 17¼- 21~ 2~- 24 19¾- 23¾ 20¾- 23½ 17 - 23 20%- 24¾ 22¼- 24¾ 22 - 23¼ 21 - 24¼ 22 - 23¾ 20 - 22½ 19¼- 21 Hocklnir Vo.Bey. . ... .. .. 86¾- 91 89 - 93 91½- 99 92 - 9j 87 - 90¼ 90 - 93 91 - 91 91½- 93¼ 90 - 92ll:I 92 - 93~ 93¼-119¼112¼-121¾ Pref....................... 90 - 93¼ 90½- 92¼ 91!1!- 96% 92¾- 95 91¾- 92¾ 92¾- 95¾ 92!Jt- 93~ 91¾- 94¼ 92 - 93 91¾- 9!i 93 - 97¼ 92½- 95¾, llllnols Central .......... . 162:J:1-l CO¾ 155 -163¼ 158 -16-1 157 -170 155 -162¼ 157!14-16~ 165:J:(-175½ 170¼-180~ 174'4-183 177 -1!'13 173¼-180 173 -17.,¾ Leaaed llnes stock. ... 104 -l0i . ..• - •.. . . . •. - ... . 104 -104 .... - . .. .. •• - ... . .... - ..... . .. - ... . ... • - . . 105 -105 . .•• • .. . .••• - .••• Iowa Centro.I............. 20 - 81¾ 29 - 32 27 - 20% 26 - 30½ 24 - 28 24 - 27!1.( 26¼- 28½ 2i¾- 29¾ 273'- 29~ 27¾- 29§8 25¼- 28_¼ 27 - 29'( Pref........................ . 55 - 58 54¼- 58¾ 54 - 57¼ 53 - 57 60 - 50 50 - 52 61 - 54 68 - 58½ 56 - 58 55¼- 59's-1i 55 - 67¾ 55¼- 61-' Joliet & Chlcairo ........ .... - ... 180 - 180 .... - .... 182 -182 ... . . ...... - ... . ... - ••. • .• - .. .... .. - .... .... - . . . •••• - . ... .•.• . ••• Kanawha & 1.Ulchlgo.n. 36 - 37¼ 80 - 87 87 - 39 .•. - . . . . 29¼- 80!4 30½- 32,x .•. . - .. 33 - 33 35¾- 35½ 34).t;- 42¼ 89 - 50¼ 49 - 58:'-( K.C.F .s.& M. t. ctf8.pf. 81¼- 82½ 82~- 83 827,i- 84½ 82¾- 84 82 - 83}4 al¾- 84 81!!(- 83¼ 82¼- 85~ 841'- 8d~ 85 - 87 84.¼- 86¼ 82¼- 86 Ko.D8a8 City Southern . 27½- 31¼ 29¾- 34 27½- 32 26¼- 32 22¼- 29 23.¼- 27 25½- 27 27 - 28~ 25¾- 27½ 24¾- 27¾ 26 - 82 20¾- 86_¼ >Pret ...... . ... .. ............ 52 - 66¾ 63¾- 'iO 68 - 67¾ 59 - 61:1 55¼- 62¾ M - 57 65,½- 581'4 56¼- 60¾ 54 - 56¾ 62¼- 58¾ 53¼- 64 60¼- 68¾ Keok. & De8 Moines... . .... - .. . . 14¾- 14¾ .... - ... . 14 - 14 .... - ........ - •.• . . .•. - . ... U - 17½ IS¼- 14J.i! .•. - .... 15 - 16 16 - 17 Pref... . . . . . . . . .. .. . . . . . . . . . . . . - . . . . . . . . - . . .. 52¾- 52¾ . • . • - • • • . 40 - 4.0 45 - 45 46 - 50 61 - 52 . • • • - • • . . . • • • - • • • • .. • • - • . • . . • • . - ... . Klnsaton & Pembroke ..... - .... .. .. - . ...... . - ... . . .. . - .... 6 - 6 . ..• - •.. . • - ..•. . ••• - ... .. ••• - •.... ••• - ... . . . •• - • .•. .. •. - .. . Lake Erle & We1ttern ... 85 - 41¼ 87 - 40½ 39¼- 44¾ 34 - 41 80¾- 35 28¾- 31>4 30J4- SO¼ 32 - 37 33 - 86 33¼- 34'¼ 38 - 37¼ 35 - 47¼, Pref . ....................... 100 -101 101¼-101¼ 99¼-106 100 -100 97 - 97 91 - 96 . ••• - .... 96 - 96 95¼- 95% 95¾- 96¾ 95 - 95 95 - 99 Lake Shore ................ 290 -310 300 -340 320 -350 310 -816 . ... - ... 810 -310 812 -320 315 -325 . ... - .. ;UO -325 325 -825 825 -345 Lonir hland............ .. 56 - 66 60 - 65½ 66¼- 61 56 - 56 50¼- 58¾ 62 - 55 C4. - 67% 65½- 71¾ 65 - 67 65 - 71 64 - 7J¾ 67½- 71 Louisville & Na8hvllle. 134½ 142¾ 137 -141_¼ 188~-H5½ 141 -156),( 140 -148¾ 142½-151¾ U~-1!50¾ 145 -152¾ 1~-157¾ 149¾-156¾ 146_¼-154½ 149¼-154,4 Manhattan Elevated .... 165 -172 169¾-175 166¾-172¼ 161½-167¾ 161 -164% 162¾-166 164%-166½ 165 -16i¾' 163!,r166¼ 165!,:(-167½ 162).t;-166 lBl¼-16!1( Mexlco.n Centro.I....... 21¼- 24½ 22 - 24¾ 23¾- 26 20 - 21>¾ 18.¼- 22J.,4 19~- 21'¼ 20¾- 28 22 - 25 22½- 24¾ 23¼- 25¾ 22¾- 24½ 23¼- t5% . Mlchliran Centro.I. .... ... .... - .... 135 -150 150 -150 .... - . . .. 152 -152 130 -130 .... - .. . 140 -155 140 -140 140 -140 146½-148 146 -149¼ Mlnneo.p. & St. Loul8 .. 66¼- 60 60 - 02 59 - 62½ 63 - 64¾ 60 - 60 .•• - •• . 60 - 62 63 - 70½ 68 - '73 78 - 84114 79 - 81¼ 78 - 82 Pre1.. .. . ..... ...... . .... ... 86 - 87¾ 89 - 91 .... - .. .. 90 - 90 91 - 91 .••• - . . . 92 - 92 92½-100 98 -102 i02 -106 100_¼-100_¼ 100 -102¼. Minn. St. P. & S. 8 lU •. 89¾- 99)4 98 -117½ 111 -122 110 -120¾ 107½-117 114½-125 121~-129 123!,,i-143¼134¼-144- 135 -142½136 -UO 136¾-145 Pret ....... ................ 148 -160 158¼-ldl½ 159 -169¼ 157 -165¾ 153½-159 156¼-161½ 158Jt-162½ 162¼-166¾ 164 -170 160¼-164 162,:t-16B½ 165 -178 M.o. Kan8o.s & Te:xa8... 30 - 83¾ 3U¾- 32¾ 3U~ 83¼ 26¾- 32% 24 - 29 25¾- 29¼ 21'½- 29¾ 28½- 35 83¼- 35 81¼- 34¾ 33¾- 39½ 35 - 39¼. Pret ........ ................ 62 - 67~ 63¾- 67 6i - 69 58 - 68¼ 56¾- el¼ 57¾- 64½ 62¾- 65½ 63¾- 73 68¾- 72¼ 67 - 69¾ 67 - 72¼ 67 - 71),( Ml88ourl Po.clflc ......... . 104½-108½ 106~·109% 105½-110¼ 96 -108¾ 94'¼- 911 95).t;-102¼ 97¾-101¼ 99!1t-109¾ 102½-108¾ 102,:(-100¼ 96¾-10!~ 99 -108¼ ~orrl8 & E88ex ........ ... .... - ... 185¾-185¾ l ijO -190 .•.. - . .. . ... ... . ... - •.•. 185 -185 186½-186½ .... - ..•. ...• - ... . ... - ... . .. • - ... . Na8hv. Chatt. & St. L .. 187 -146 l,U½ -146¼ 145 -147¾ 148 -158 140 -163¼ 146 -HS¾ 142 -150 14!1½-153 145 -154 148 -148 146 -148¾ 145!,t-152 • Nat'l of Mexico-Pref... 40¼- 45 41¾- 43¼ 41 - 43 34¾- 40¾ 33¼- 36 34¼- ::16 36¾- 38½ 87¼- 39¾ 37¾- 88¼ 36 - 37½ 85¼- 138 35¼- 40J4· 2d pref ..... :.. ....... .... 21,-6- 24¾ 22 - 23¾ 21 - 22¾ 20¼- 21 18~- 19¾ 17¾'- 18¼ 20 - 21½ 20½- 21½ 19¾-- 21 19 - 19 18¼- 20¾ 20 - 21¾ N. Y. Cent. & Hnd. Riv. 141¾-149¼ 146%-161 154¾-167ll:t 141 -168½ 136¾-145¾ 138¾-146~ 143!,t-149¾ 146¼-166½ Hf>½-152¾ 147Jl:t-154¾ 147¼-152¼ a144 -157 .. Rlllhl s . ... ......... .. .. . . . .. - ... . .... - ... . .... - . . . .. .. - ........ - . . . . ... - ........ - ........ - . . . . ... - ........ - . . . . .. - . . . 4).t;- 7 N. Y. Chic. & St. Louh. 42 - 46½ 44 - 48 45 - 61½ 47 - 55¼ 43 - 49 44 - 48¾ 47 - 53¼ 50 - 54¼ 49 - 66¼ 53 - 56¾ 51¾- 56 56 - 76_¼ l8t pret .......... ........ . 119 122½ 117¾ -lli[j{j 115 -115 115 -116 ..• . - .... ... - . .. . 114 -117½ .. .. - -··· ...• - •... 115 -115 lli¼-lH¼ 117 -121 2d pref............ . . . .. . . . 75 - 82 75 - 80 78 - 83 77¾- 85 74 - 81¾ 78 - 81½ 80 - 83~ 80 - 84 80 - 85~ 86 - 86¾ 82¾- 87½ 88 - 95 N.Y.&Harlew .. ..... . 400 - iOO •.•• - •••. 402 -402 . .. - . .. 400 -4-00 . . ••.• - .. •..••• - ••....• • - •• • ..••• - .. . . .. .. - . •. . - ..• N. Y.Lack. & West . .. .. 136 -135 .•.• - •••..••• - ...... •. - .•.. •.•. . .• . 1~134~ ·.,;· - ......• - ••. . _..• - .... . .. - ........ - ••.. 136 -136 N. Y. N. Haven & Hartt. 198¼-208 20034-210~ 200 -208 201½-204¾ 194 -203 197¼-200 ll/9¼-202¼ 201¾-211 207 -216 201¾-209¾ 200 -204½ 191¾-198),.( Rlllht8 ....................... - . . .. .... - ...... . - .... ... . - ........ - .... . . .... - ........ - ........ - . ....... - . ..... .. 4¾- 5¾ N. Y. Ontario~ West... 40¾- 4.5),.( 43¾- 56¾ 53¾- 64 49 - 63¾ 44!14- 52¾ 49 - 53¾ 50¼- 5~ 52¾- 58 52~- 55¾ 52¾- 56¼ 50¾- 56¾ 50¾- 51¼ Norfolk & Southern... . ... - ... . .... - ... .. ... - ..... ... . . - ... .. ... - .... .... - . ... . ... - . . .. 40 - 4.0 50 - 50 . .•. - .. ...... - ... . Norfolk & Western ...... 77,f- 80% 79~- 84¾ 88 - 88½ 76¾- 67 76 - 80¼ 77¾- 85~ 84~- 87¼ 84¾- 87 83¾- 8614 Si¾,- BS¾ 83%- 87 es - 85¾. Pref........... . . . . . ... . .. 92 - 94 91¼- 94½ {l3 - 94,½ 91¾- 91½ 91¼ - 93½ 93 - 98.½ 93¾- 94' 9234- 96 92 - 92 92 - 93¼ 112 - 98 92¼- 93¼. Northern Central...... . ... - ... . ... - ........ - ........ - ....... . - ... . . . . - ... . .. - .... 206 -220 216 -222 228 -223 . ... - ... . . .. - .. • Nort nern Pacific ......... .... - ....... - .... . ... - .. . 165 -178 169¾-196 181 -190 187;J.i-208 204 -2t6 205¾-214 201 -212½ 191).t;-205~ 193~-207¾ Pacific Coa8t Co.......... 78¼- Si 84%- 98¼ 92 - 95¾ 87 - 94 84~- 85½ 84 - 89~ 90 - 96 94 -107¾ 108 -107¾ 102¼-JOJ~ 100 -105 99¾-107 1st pret .. . .. ............... 100 -104 105 -108 103 -108 104 -104 . . . . - .. .. . .. . - .... 105 -105 . • • • - ....•••• - •• •. 103 -103 . ... - . . . . .. . - .•• 2d pref.... . .... .. . .. .. . 85 - 86¾ 87 - 98 95 - 95 91 - 9418 85 - 89~ 85 - 85 91 - 96~ 95 -107 104 -106¾ 104 -109 105 -10-3¾ 10'7½-108 Pennsylvania RR ....... 185 -139¾ 137!'4-145!!( 140~-147¾ 187¼-U.4¾ 131½-140¼ 133¾-1413' 140 -us~ tt2¾-14.8 140¾-145¼ 142%-145% 187¾-146¾ 138)4-144.¾, Rhihts. . .... .. . .. ........ . . . - . ....... - ... . ... . - . .. . ¼- ¾ .. .. _ .. ...... _ • •. . • •• _ ... ..•• • _ _ •.•. .• .• _ ........ _ _. _..• _ .••• Peoria & Ea8tern... .. . . . 27 - S~ 32¾- 45¾ 89¾- 48~ 40 - 48¾ 32 - 87 :lO - 40 35 - 43 40 - U.½ 38 - 39 86 - 4.2 86 - 42 4.0 - 47.¼. Pere .Marquette......... . 77 - 97!1.( Yo -106 100 -101 .... - ... . .... - •... 100 -100 .• .• - .... . ... - .... 99 -101.½ 101 -101 ••. - .•..•• • - •.•• Pret.. . . . . . . . . . . . . . . . . . . .. 80 - 87 E4J.t;- 87¼ . .. . - • . • . • • • • - • • . . .. • . - • .. . 81 - 82¾ 78¼- 80.½ 79 - 81 80_¼- 84~ 83 - 84 • • • - • . 48 - 5'> Pitts. Clnn. Oh. & St.L 75 - 79 7w¼- S3¼ 79¾- 87~ 74 - 82 70 - 77¾ 76 - 78 76 - 80 78 - 83~ 80 - 83¾ 80 - 83 80 - 83~ 8J¼- 8d¾ Pref ........................ 108 -108 lli5 -108 108¼-112 108 -109 106 -106 ..•• - •• •. .••. - •••. 105 -110 106 -106 .•• • - •... 106 -106 106 -108¾Pltts. Ft. W. & Ch •• aru. 185 -185 184¾-18414 181¼-184½ 184 -185 183~-183~ 182~-185 .•. - .... .. .. - •••. 182':(-182M .••. - . .. . ... - . .. . - ... . NoTK.-Chlc. & N. W. riabtuold 1nJuneatl8!,(to 16¼. b Ex-rlghta. • Trust Co. certUlcatea, assessment full paid. a Ex-diT.andrtghts. 0 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis · RAILROAD AND MISCELLANEOUS STOCKS. 112 190:i-C:ontinued. STOCKS. JANUARY FEBR'RY. MARCH. APRIL. --- ---- - - - ------- -JUNE. MAY. JULY. AUGUST. 8EPT'BER. OCTOBER. NOV'BER. DEC'BER, --- Low.High Low.High Low.Hillh Low .Hi.llh Low.High Low . High Low.High Low .High Low.High Low.High Low .High Low.High ---- Railroad Securities, Ill. Cent. 8tk. tr. ctfs. 92 - 93¼ 98~- 96 95 - 96¾ 95!1,t- 9fl:J4 96).j;- 96!!:( 96¾- 97 93¼- 94½ 95 -100¼ 98¾- 99½ 97¾- 99 98¼- 98~ 97¼- ~ Ren.ding................... 79 - 90!ki 88 - 97.K 92¼- 99¾ 88¾- 9~ 86%- 94.½ 91~-100¾ 99¼-108¾ 103¼-125~ 114¾-124 119¾-129¼ 128¼-148~ 183¼-141~ 91 93 92 94 91 9Ll 92 90 91 l8t pref................... 91¼- 93J.d 91¾- 95 - 97 - 92 91~- 95½ 91¾- 91¼ 91¾- 93 - 92½ -02¼- 95¾ 93 -100¼ 97¾-100¼ 96 -101 !ld pref ............... .... 84 - 89 88 - 92 89¾- 91¾ 90 - 91½ 85¼- 87 Si - 91¾ 91¼- 96 91¼- 96 95 -9~ .... - ... . .... - ... Rensselaer & Sara tog. 209¾-20S):J4 . . . . - . ... .... - .. .. ... .... .... 210 -210 . .... . Rock laland Co ..... ..... 33%- 87% 84 - 87 32¾- 86½ 27¼- 86½ 24¾- 80¼ 25¼- 30~ 29~- 82¼ 30¾- 85¼ 81¼- 34.¼ 28¾- 34¾ 23¼- 80¼ 21¾- 27 79¾- 82!)4 78¾- 81¾ 74 - 82 Pref .......... ..... ....... . 79¾- 85 71¼ - 75 78 - 76 74¾- 77¼ 76 - 81¼ 78 - 80½ 72¾- 81½ 60¼- 74 60¼- ~ Rome Wat. & Ogden8 .. .... - .... .... - ... .... . ... - . .... - .... 185}4-135¾ 136 -137 . - . ...... ·•• · . ... .... 134¾-134¾ .. - .... Rutland, pref ............ 69 - 72¼ 69%- 69% .... .... .... .... 67 - 67 ... - .. 60 - 63 64 - 64 60 - 65 58 - 58 . ... - ... 59 - 68 St. Jos. & Gr. bland ... 18¼- 17¾ 17 - 17¾ 14 - 14 16¼- 17¾ 13 - 18 12 - 15½ 16 - 17¼ 17 - 18¼ 17¼- 19¼ 17¾- 22½ 20 - 20 21 - 25 lat pref............. ... 54. - 58¾ 57 - 58¾ 51 - 55 52 - 58 46¼- 48 47¼- 52½ 50 - 52¼ 52 - 57 56 - 62¼ 59 - 63 58 - 62½ 62¼- 65 27¾- 29¼ 24¼- 26¼ 26 - 27~ 22 - 24¾ 20 - 28¾ 21¼- 24½ 23¼- 28 2d pref..................... 27!,d;- 29 27 - 31¾ 2~- 82½ 81 - 32½ 82½- 35 .. .... - .... .... - .. . ··•· - .. . .... - ... ·•·· ... .... - . ... . - ... .... St. Law. & Adirondack 100 -100 .... .... . ... . ... - . St. L. & s.Fr., l8t pret 75 - 79½ 78 - 79ll:( 77¼- 81¼ 'i5¾- 78¾ 73¾- 78¾ 74 - 76~ 'i7 - 78½ 76 - 79¾ 78¾- 79¾ 76%- 79 70 - 76 67 - 75 2d pref .................... 70 - 71% 70 - 78¾ 70 - 78½ 65 - 71¼ 61 - 67½ 64 - 68¼ 66,:(- 69!'4 68¼- 71'4 66¼- 70¾ 64 - 71½ 55¾- 66¾ 45 - 62 C. & £. Ill. 8tk.tr.ctfs. 175 -179¼ 177 -178½ 178 -192 190 -190 190 -198 190 -194½ 183 -190 190 -190 190 -190 180 -194 181 -181 .... - . ... 184¼-184½ 183 -188 132¼-184½ 132 -183 188¼-134 .... .. ... 185 -135 .... •• · · . Pref.stock trust ctfs. .... 130 -184 . . .... - .... .New 8tock tr. ctfs ... ... .... . ... - •• · .... .... ... - . .... - . .. 75¾- 76M - ... .... - .... .... ... .. .. - .... . St. Louis Southwest'n. 24¼- 27½ 25¾- 27!ki 25 - 27¼ 22 - 27¼ 20 - 24¼ 22 - 2-i~ 22¾- 2~ 28¾- 2~ 23¾- 26 23 - 25 21 - 24 21 - 28~ Pref. .................... 57 - 63¼ 60¾- 64~ 60¾- 65½ 56~- 66% 55¼- 64¾ 59¼- 61¾ 58 - 63 60 - 64¾ 60¾- 64 58 - 62¾ 55 - 60¼ 55 - 60¾ Southern vot. tr. ctfs. atamped extended .... . 32¾- Sf} 28¼- 32'¼ 82¼- 34¾ 33¾- 36% 34¾· 38 85 - 87¾ 83%- 36¾ 83%- 86~ 33¼- 86¼ 33% 36!14 29%- 85¼ 28 - 32 Pref. do do ····•····· 96 - 97¾ 97 - 98% 963,s-100 95 - 97½ 95 - 96¾ 96 - 97¾ 98 - 99 98¾-100½ 99¾-102½ 98 -100¾ 97¼- 99¾ 99 -100¾ .... M. & O. stock tr. ctfs. ... - .. 98 - 98¾ .... - . ... 97 - 97 - .... 99½- 991A 99¾-100½ 100¾-100:}.t . ... ... . 99 - 99 99 - 99 97¼- 97¼ Southern Pacific Co .... 63¾- 68¾ 66¼- '1'2¾ 6~- 71¾ 58½- 69¼ 57~-~ 601},- 65¾ 63 - 66¼ 64~- 68½ 64¾- 69¾ 67¾- 72¼ 66¾- 70¾ 64%- 71¼ Pret ........................ 115~-116¾ 118 -121¼ 117%-119 116¼-118½ 116¼-119J.4 117¾-121 117¼-118¼ 117:1:(-120¼ 1193,s-120½. 119 -120½ 118%-121 117¾-122¼ .... 52 - 52 ... Texa ■ Central. ........... .... ... .... - . ... .... - ... . .... - .... ... . .... . - ... 55 - 55 .... ... ···· .... Pref ....................... .... .... .... - .... .. . - ... . .. - .... ·•·· - .... .. - .... 82¼- 82~ . ... - ···· - .... 90 - 90 ... Texas & PacUlc ... ....... 32%- 85% 34¼- 38:U 87 - 41 29¼- 39¼ 30 - 83¾ 31½- 84¾ 32%- 34~ 83¼- 37¾ 85 - 38 33¾- 36~ 32¾- 36¼ 32¾- 85% Toi. Peoria & Western · ••· - , .. . 19 - 19 •·•• - .... .... - .. . ... i0 - 19 . ... - .... .... - . ... . - . ... . - . .... - .. . . ... . Tol.St.L.&W .,v.tr,ctf11 35¾- 86¾ 35¼- 37½ 86 - {0¾ 35 - 48~ 34¼- 89 37 - 89 87¼- 89¼ 87¼- 38% 37~- 89¾ 36 - 39½ 36½- 38¾ 35 - 37!ki Pref., vot. tr. ctis ...... 51:J,t- 54¾ 53~- 56% 52¾- 59¾ 543-4- 65 52~- 58¼ 55¼· sm 55¼- 577.tfl 57 - 59¾ 57}4- 59¾ 55½- 59¼ 56 - 58¼ 56¼- 59!14 Union Pacific ... .......... . 113 -123¼ 121 -137'?1j 127 -136¾ 118 -137 115 -124¾ 119%-129 126¼-131¾ 129¼-138¾ 128¾-134¾ 130¾-185¼ 127¾-13&¼ 184).s-151!14 Pref . .. .................. . 97 - 98Xi 97 -101~ 99¼-100 96¼- 98!,d 97 - 99 96 - 96½ 95¾- 97!,:( 95½- 98¾ 96¼- 99½ 08 -100 96 - 98 98¼- 99 Vandalia .................. . ... ... . .... - .... .... - . .. . 85 -100¾ . .... 85¾- 86 . ... ... ... ·• • · ... - ·• •· . - .... 83¾- 85 Waba8b .................... 20¼- 2'~ 21%- 23¾ 22 - 23¾ 19 - 28~ 17¼- 20¼ 18¾- 20!ki 18¼- 20 19 - 23 20¾- 24¼ 20¼- 23¾ 20¼- 22½ 20 - 21¼ Pref ....................... . 41 - 44~ 43¾- 48 44¼- 47¾ 41¼- 473d 87 - 48 87¼- 41% 38¼- 41¼ 40 - 44.½ 40 - 45¼ 40¾- 44¼ 38¾- 42~ 89¾- 42 - .... .... - .... Warren ................ . .. . .... - ... - .... 185½-185¼ . ... - ... . ... .... . • ·•• - ... . - ....... .... .... .... . ... - .... .... - •· -· Western Maryland ... . .... - . ... .... - ... .... ... - . .. . .. . ... . - . . 27 - 29¾ 26¼- 30 - ... . . ... Wheeling- & Lake Erie 17¾- 10½ 18¼- 19¾ 18 - 19?:i 16 - 19¼ 15 - 17 15 - 17 15¾- 16½ 17 - 18½ 16%- 18 17 -17¾ 16¼- 18 17 - l9!ki l8t pref... ................ 44!ki- 46_½ 45¼- 48 44¼- 47½ 89¼- 45¾ 30 - 41 86¼- 41½ 38¼- 41 39 - 41¾ 38 - 42 39 - 48½ 40 - 48 40 - 48!ki ~dpref.................... . 25¾- 27 26%- 28¼ 26 - 28½ 24 - 27 20 - 28¾ 22¾- 25¾ 23 - 25¼ 22 - 25½ 23 - 26¼ 25 - 25¼ 2!l - 26¼ 25 - 27~ Wlsconaln Central. .... 21¼- 24.¾ 22½- 25¼ 22!,r 25 21l}J- 24¾ 22¾- 24~ 23¼- 33½ 28¼- 82½ 28 - 82¾ 28 - 30¼ 28 - Sll-1( 20 - 24¾ 20 - 24 49¼- 64}t 50¾- 54¼ 46½- 54 Pref....................... . 45 - 64 45 - 50¾ 47½- 53 50¾- 52¼ 51½- 62~ 57¾- 61¾ 59 - 64½ 69½- 61½ 58¾- 64 .. .. - ... - - ... .... .... - .. - - - ... - .... - .... - ... - ... ... - - ... ... ... ... - .. - ... - ... ... - - .... . ... . - .... - .... - . .. - - .... - .... 24634 ·:250 228 -246 122 -13! 246 -260 245 -245 226 -238 126 -134 2i9¼-252 - .. ... ... - .... ... ... 250 234 122 245 -250 -244½ 220 -230 -124 122 -125 -245 285 -285 .. . ... - .... -2i3 -225 -124¾ -250 245 -249 230 -235 125 -126 a35¼-245 - ... ... - ~ - .... .... - ... .... .... . - . ... ... - - EXPRE~S. ~Jlams ..................... . &merlcan . .... ............. United States .......... ... Well8, Fargo & Co. ... . 236 -245 209½-234 l20 -125 la5 -247½ ;, COAL & MINING. Amalgamated Copper . . American Coal ... ....... Anaconda Copper ..... Central Coal & Coke .. Colorado Fuel & Iron . . Pref ...................... Col. & H. Coal & Iron .. Conaolidatlon Coal ...... Homestake lUlnlng .. Lehigh & Wilkes Coal New Uentrn.l Con.I, new. Ontario Silver l:Uinlng .. Pittsburg Coal ot N. J .. Pref.... .. . ............... Quicksilver Mining .... . Pref .......... .. ... ..... ... Tennessee Con.I & Iron Va. Iron Coal & Coke .. 70 - 77¾ 73¼- 77}fi 76 - 81¾ 78¼- 89% 75 - 84% 77¼- 84.~ 81%- 84.¾ 82¾- 88¾ 79¾- 84¾ 81¼- 86½ 78¼- 90¾ 89 -111~ 175 -175 169 -169 - ... . .. - . ... ... . - . .... - .... . - ... . - ... . 105 -110 108 -123 110 -130 100¼-114 102¼-109 106 -114 113 -l18½ 107¼-125 115¼-125¼ 115 -158 152¾-295 .... - . .. . - . ... . - . .. . . ... - . .. ··•· . ... 64¼- 64½ 65¼- 71¼ ... 46 - 54 50¼- 59 42¾- 57¾ 38 - 47!,4 39%- 45¾ 48¾- 481k; 44¼- 47!}.j 41 - 46¼ 43¼- 48!ki 40¾- 49JJ:j 44.¾- 58¼ 95 - 95 .. . - . ... 80 - 92 93 - 93 93 - 94 91 - 91 9i¼- 95¼ 85 -100 100 -105 100 -104 12¾- 14¼ 18¼- 16 16 - 17¼ 15¾- 18¾ 14¾- 17!,4 11¾- 14% 11%- 14 14¼- 15¾ 15 - 17¾ 14 - 16~ 15¾- 20 .... . .. . 92¼- 94½ . . - .. 'i3 - 73 . . ... . - . .. .. .. - . ... . . 77¼- 80 77½- 80 80 - 80 80 - 81 81¼- 82 71 - 78 79 - 80 78 - 75¼ 75 - 78½ 79 - 80 78½- 78½ ..... . . . - . . - . 45 - 45 . - ... 42 - 42 42 - 42 42 - 42 42 - 42 . - . .... - . .. . 1 - 2 1 - 1 2 - 2 3¾- 4 2¼- 2½ . . - .. .. . .... - . .. lJ.-4• 3½ 2¾- 6 12¼16 . 17 15¼16 13¼- 16 13¼- 15½ - £1 14%- 19½ 13¼- 15¾ 14¼- 17¼ - ... - . .. .... - ... . . . - . 731/4- 80¼ 62½- 76¾ 45¼- 64 50¼- 57½ 58¾- 59½ 54½- 59¾ 52¼- 59 57¼- 63¼ . . ... 1 - 1 1 - 1 l¼- 1¼ 1¾- l:k, 1 - 1 ¾- ¾ ¾- ¾ 1 - l ¼ %- 1¾ · ••· - . 4'?1j 3 4 8!14- 3¾ ... . - .. . 2¼- 1¾'. 2!ki- · 2¾ 2¾- 2¾ ·••· - ... . .... - ..... . .. . ... - . .. . 3 4 3 d8 - 'i8¼ 'il¼- 9i¾ 8tl¾- 99¾'. 80¾-106.¼, 73 - 87¼ 74 - 85 83 - 92¾ 86½- 91% 82¾- 88% 84¾- 92¼ 90¾-129 118¼-148 89 - 42¼ 42 - 52 40 - 43 !,i. 42 - o2x 45 - 51¾ 41¼- 50½ 37 - 45 40 - 41¼ 41 - 42 86 - 40 47 - 52½ 40 - 48 VARIOUS. Aills-Chalmers .......... . Pret .. , ............... Amer. Agrlc. Chemical Pref...... . .... ... .......... Amer. Beet Sugar....... Pref ............ . . .. ........ Amer. Car & Foundry . Pref ....................... A.mer. Cotton 011 Co ... . Pret . . ...... . . .. ............ A.mer. Diot. Telegraph . Amer. Grass Twine. Amer. Hide & Len.tbei Pret .. . ......... ........... American Ice Co .......... Pref. ....................... Tru8t Co. ctts .... ... .... Pref. Trust Co. ctfs .... Amer. lee Securltle8... . American Linseed ...... Pref................... ... American Locomotive. Pref............ ... .. . ...... American Malting..... . Pret .... . ...... ........... Tru8t Co. cCf8 . .... Pref. Tru8C Co. ctf8 .. . Am. Smelt. eec., pt., B Am. !!§melt'ar & Refln'g .. Prei .... . , .. ............... . .... - .... .... .... .... l033(-112% 65 - 65¼ 43 - 48¾ 05 - 95 14¾- 18½ ... .... .... .... .... - 240 225 124 245 ... - ... .... .... - .. ... . .... .... .... .... .... ... - ... ... ... ... .... . .... .... .... ... ... . .. .... - 14 - 18 15¼ - 19 64 - 66 62 - 68 20 - 211}j, 21¾- 22½ - ... 89¼ - 92 24 - 2i 24 - 26➔.I 77 - 77 'i8 - 82¼ 81¾- 34.½ 33 - 36!,4 91J4- 9i% 92¾- 95¼ 33~- 36½ 83,½i- 87 95 - 95 95 - 97 88 - 38 ··• · 10¼· 14 8 - 11 9%- 11¼ 9½- 10}4 45¾- 51¼ 4~~- 52¼ 6¼- 6% 5>2- 7¼ 35¼- 3c!% 39 - 41 .... .... - 14%- 18 56 - 64 20 - 24¾ 90½- 91½ 25 - 84½ St - 85 34½- 89¾ 93'}.f-100½ 38%- 86¼ 98 - 95 .... - .... 7¾- 9¾ 9¼- 10% 50¼- 65¼ 5¼- 5% 38¾- 40 .... ... ... .... .... - .... ... .. .... . .... ... ... .. 14¼- 17% 54 - 62¼ 24 - 29¼ 89¾- 91¼ 27¾- 32 84%- 85 83½- 43% 96¾-104½ 83¼- 38 93 - 95¾ 83 - 33 7 - 9 8 - 10¾ 42 - 52~ 6 6 39 - 39 4%- 6 38 - 41¾ 13 46x.22 89¼25 80 31 94¼30¾94 29 6¼7¾40 - ... .... .... .... 242 220 123 285 .... . .... .... ... .. .... ... .... .... - ... .... .. - .... ... .... - .... .. .. .... .... .... - . ... -243 222 -230 225 -230 120 -125 117 -123 i:35 -235 287 -2i5 .. - .... .. .. ... .. . .. .. ... - .... .... .... ... .... .... .... ... - 13¾- H½ 14 - 19¾ 15¾- 19½ 50%- 52½ 51%- 63¼ 54!)4- 64 28¾- 24¼ 28¾- 24¼ 23¼- 25 . - . 95 - 95 24 - 24 25 - 25 23¼- 25½ 82 - 85 84 - 85 82¼- 35¾ 34¾- 37¾ 36¾- Si:l¾ 97 - 99 98 - 9911! 09),(-102 30¾- 32¼ 27!1,t- 33~ 29¾- 30½ 89)4- 92 92 - 95 92¼- 95 29 - 31¾ 30¼- 31¼ 'i¾ 5¾- 6¼ 5¼- 6¼ 4¾- 6¼ 7½ 9¼ 6 - 7½ 6 - 7¼ 7 81)4- 42).d 34¾- 42¾ 36 - 40 47 - 15_¼- 18¼ 58 - 61½ 22 - 25½ 93¾- 93¾ 24½- 26½ 8o - 86 35 - 38¾ 99 -101 29 - 81 95¼- 95¼ 29¾- 32 5¼- 8½ 6 - 7 81¼- 38 i 21 -226 110 -123½ 226¼ 245 .. ... .... .... - ... ... .... - ... 15% 54¼ 25¼ 89½ 31 83 37¼ 99½ 33% 96¼ 32¾ .... - .... ... - . ... .... - .... 243 225 -230 121¾-125 .. .... ... .... ... - .. . .... - .... - - 17 - 21¼ 18¼- 21¾ 59¾- 64¾ 59¾- 63¾ 23¼- 26 24 - 25¾ - . .. . 93¾- 93¾ 24½- 26½ 28 - 28:J:j 82½- 84 . .. - . 86¾- 43¼ 37¾- 42¾ 99¼-102¼ 100 -101 30 - 83½ 31 - 86¾ 97 - 97 92¼- 08½ 81 - 40 37 - 45 6¾- 10 8¾- 12¾ 63,s- 'i¼ 6¾- 8!ki 29¼- 34¼ Sl - 86'¼ .... .. ... 19¼- 24!,4 60¼- 66¼ 23¾- 25¼ 91 - 91 23¼- 35 83½- 89 38¼- 42¼ 98 -102 34¼- 40¼ 91 - 93 ... - .. 9 - 11 g - 11% 84¼- 48~ - ... .. - .... .... ... . ... - ... .... - .... .... - ... .... - ... .... .... .... - .... .... - ... .... -- ... .... - ... .... - .... .... - .... .... . _ .... .... -- ·•• · 6 - 6 .... - .... .... - .... .... - .... .. - ... .... - ... .... - .... 4%- 5½ 4%- 5 ·•·· - .... .... - .... 87 - 37 .... - .... .... - ··• · .... - ... .... - .... .... - .... ... - ... .... - .... .... - .... 34 - 39½ 85 - 88 ... 24¾27 26 .... ... - .... .... - ... .... - .... .... - .... 25 - 27¾ - 29¾ 26¼- 27% 26M- 28¾ 26* 29~ 29hr 36 15¾- 18 36 - 40 33 - 38 L03;J4-111% 6:ij- 8¾ 25¼- 27½ - ... 17 - 18;14 17¾- 19% 16¼- 19¼ 18¾- 28 17¼- 20¼ 18¾- 19 40 - 42:Ja 41 - 42 41 - 45 39¼- 42¾ 40¼- 43¼ 38)4- 43 46¼- 50¼ 477.lfl- 56)4 47½- MM 53¾- 71¾ 64 - 73~ 67 - 76~ ll()¾-112¾ lll¼-119¼ 112¼-116½ 118 -117¾ 113¾-120¼ 115 -118 5 5~ 4¼- 4%; !l 4¾ 4¼- fl¼ 5 6~ 4¼- 0 24 - 25¼ 22 - 25½ 28 - 24¾ 24¼- 26)4 25ni- 27J.d 25 - 26¼ 53,4- 5¼ 5 . . . 5 - . . . . 25¾- 26 24¾- 26 . - . .. · ••· . . . .. - . 9'i!ki- 98¼ 98 - 98'k! 98 - 1?9~ 97¾- 99¾ 98%-100 99 -102 99¼-100¾ 79¾- 86¾ 85 - 92 Stl¾ · l03½ 103 -12311, 106)4-118¾ 108%-119¾ 115 -124% 123M-181% 122%-128¼ 125%-189¾ 137 -157~ 150~-170~ lll~-119% 118¾-119¾ 118 -123¼ 121¼-127 118¾-122 117 -122 119 -128l}& 121¼-128 120~-128¾ 120¾-125¼ l.22¾-186 126¼-187 15%- 17.½ 37 - 41 36¼- 43¾ 110 -112½ 7 7% 28¼- 27¼ .... - .... .... ... - ... .... .... - ... .. - 16 - 20¾ 89)4- 46½ 41¾- 5i¾ 111¼-118¼ 6%- 8!ki 25 - 28½ 17¼- 22¾ 43 - 48½ 47 - 61¼ 113¼-122!14 6 7!ki 23¼- 26J,, 16¾- 19 42 - !l6¾ 4! - 58½ lQS¼-115¼ 5¼- 6½ 21¼- 24¾'. . ... .... . ... .... - .... ... - ··•· .... - .... .... ... . .... - .. .... - .... ... ... . NOTE.-Ra.nge for CoL Fuel & I. rights WllB¼ to 2J.ii lnApr1l. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis -250 -238 -129 -250 18 - 18 39%- 41½ 45¼- 49¼ 110¾·114 5¼- 6~ 20 - 24. .... .. .... ... - ... .. .. ... ... .. - .... ... - .... ... .... .... ... .... - ... ... - ... - - MISCELLANEOUS STOCKS. 113 190:i-Contlnued. STOOKS. ~--------·-·- JA..NUA.BY Fll:BR'RY . M.AROH . APRIL MAY. JUNJC. JULY. AUGUST. BEPT'BJIR. OCTOBER. NOV'BER. DEO'BBL - - - ··- - - - -- - - - - - - - - - - - - - - - - - --------1-----1-----;-•---- - - - - - - - - - - - - - - - - - - - - ---- Low.High Low.High Low.High Low.Hbth Low High Low.High f,ow.Hlgh Low.High Low.High Low.High Low.High L0w.Htgb American Snuff........... 169¼-183 t80 -180 175 -175 175 -175)4 163 -170 ... - ... . 170 -170 183 -200 189½-189¼185 -200 225 -250 245 -250 Pret..... ... . ... .. .. . . ... .. .. 99 -100 99~-101¼ 99¼-101 LOO -101½ 102 -105¼ 103 -105½ 102 -103¼ 106 -106½ 106 -106 105 -105¼ 105 -107 10'. J¼-110 Amer. Steel Foundries 12'3- 18 14¾- 17 15~- 18¾ 13 - 17½ 11¾-- 15 8½- 13 6¼- 10¾ 9~- 10¼ 8¾-- 10 10 - U¼ 12 - 13½ 12 - 14¼ Pref............... ........ 52¾- 65 60¼- 63½ 60¼- 66x l>4 - 67¼ 50 - eo 33¼- 53 36 - 39½ 38¼- 41U ss - 39¾ 39¼- 47~ !l:J¾- 46¾ 45¼- 52¼ .I.mer. Su1rar Ref. Co .. . 13~-144;\4 142 -145¾ 139¼-149¾ 136 -14~ 130 -138~ 132 -140 1S7 -143½ 141¼-146 187 -141 138¼-144½ 136¼-144¾ 139 -154¾ Pnt.. ... . . . . .. .. . . .. ...... 137¼-139½ 139 -189¼ 137¼-140 137%-139½ 133 -137% 134¼-13U 136~-1~ 139¼-141 137¾-139 138Jr140 139 -140 138¼-140 Amer. Tel. & Cable Co. 95 - 99¼ 92¼- 94 91 - 93 . ... - . . . . 90½- 90½ 90½- 90½ 92¼- 92½ ... - . . . 98 - 93 92¼- 93 93 - 95 90 - 91 Amer.Teleph.&Telea-. l4i¼-148¼ 143 -147 145½-146 148 -145 l36¼-140½ L39½-U2 139 -139}1, l!U¾-143 139 -140 138¼-188¼185 -136 131 -140 Amer. Tobacco Co., pt .. 146¾ -156 . .. . - .... 140¾-140¾ ... . - .. . . . . - ....... - ...•.. - ........ - ... . . •.. - ... . .•.. - .... .. . - ...... - •••• Am. Tobacco (new) pf. 91¾- 94'¼ 94 - 99¾ 95½- 93¼ 95 - 99¾ 94¼.,- 97¼ 95¼- 98¼ 96¼- 97'¼ 97 -104 99'3-102¼ 101¼-103 102 -107'7,ti 104¼-109¾ American Woolen Co... 2G%- 23)4 22½- 26~ 24 - 31 30 - 40½ 29¼- 35¾ 32 - 35% 35 - 39 35¼- 897~ 88 - 38¾ 86½- 48'¼ 87 - 47¼ 40 - 46~ Pret................... .. ... 93 - 97 98 - 99!':f 99½-108½ 105 -108¼ 102 -105 101¼-105½ 102¾-lO!l¾ bl02¾ 05¾ 102¼-105 101¾-105¼ 102%-106 101 -106 Rl1rbt11 ....................... - ........ - .. . ... - . ... .... - . .. . . .. - . .. . . .. - ... . . , - .. .. 12¼- 32 .•.• ·- ........ - .... . . .. - ....... - ...• AHoclnt. Mercb., l8tp1 96 - 97 97¼- 99 98½- 99 98¾- 99 99½- 99½ 98%-100 99 - 99~ 99¾-107¼106 -110 108 -110¼107¼-108 107 -108¼ Brooklyn Rap. Trans .. 58¼- 6194 60¼- 66¾ 61¼- 68¾ 58¼- 71¾ 56¼- 63¼ 61 - 70¼ 67 - 78½ 68¾- 71~ 65¾- 72¼ 70¾- 78¾ 72¾- 91¼ 83¼- 91¾ Brooklyn Union Gas ... 203 -209 210 -215 209½-210 200 -206 184~-205 190 -11!2 .... - •....... - ........ - ... . 180¾-189 180 -180 175 -180 Bruna. Dock & C.lmpt. 10¼- 12¾ 11¼- 13¾ 12¾- 14¼ 13¾- 16¾ 14¼- 15 14½- 16¼ 15¾- 15% 14 - 15~ 15 - 16 14¾- 15¾ 14¼- 16½ 16 - 22¼ Butterick Co ... . .......... 60 - 60¾ 69 - 60 58 - 60 .... - •... 57½- 57!,t; 67¼- 67J.9 56 - 57 .... - .... 56 - 56 57 - 57 56 - 56 60 - 62¼ Central Leatht-r... ..... . .. - . ... .... - .. ...... - ........ - ... ..... - . . . . . . . - . . . . H½- 47 42 - 41¾ 40 - 41½ 43!1,(- 47¾ 42 - 46¼ 44 - '7¼ P, et........... . ......... . . . . - . . .. . .. - . . .. . . . - . . . . . . . . - . . . . . . . . - . . . . .. . - .... 103½-105½ 103½-105~ lOJ -105¼ 108¼-105¼ 102½-105'¼ 101%--105¾ <Jent. & So. Am. Tel'a'h 118 -121 118¼-121 120 -125 128¾-125½ 125 -127 ..• - • . . . . . . - . .. . . . . .. . 130 -135 .... - ........ - ... .. ... - . . .• Chic. Union Traction... 9¼- 18).d lLJ,4- 13¼ 9¾- 13 6¼- 10¾ 6¾-- 8½ 6 - 7¾ 7 - 10 8¼- 9¾ 7¼- 13~ 10¼- 13½ 10!,,(- 12½ 10¾- 13)4 Pref........... . .......... .. 39½- 49 47½- 54 40 - 50 35 - 40 . . . - . .. . 81 - 36~ 80¾- 39½ 37 - 39½ 85½- 46}( 401,(- 45 39!1,(- 43 88 - 42 Consolidated Gas ........ 194½-204¼ 201¾ 211 204 -214 l99 -207 1E4½-202 186 -193¾ 189 -192~ 185 -193 180}.(-187 182 -190¾ 176 -185¾175 -186¾ Cont'ntal Tobacco, pf .. 128¼-132¾ 132;14'.-133),d . . .. - . . . . . .. - ... ... .. - . . . . .. - .. . . ... - ... . .... - . .. . . .. - .... . ... - ... .. ... - .... .... - .•. Corn Products......... . 17¾- 21¾ 19½- 22¾ 12!1,t- 20¾ 11¼- 14 9½- 14¼ 8¾- 1L 10 - 11¼ 9 - 11¾ 9¾- 18¼ 12¾- 16¼ 12!'4- 15½ 14¼- 21 Pref .. . ... ................. 74 - 79 76½- 78'¼ 62¼- 77¾ 69 - 65 50 - 63¾ 42 - 50 47 - 50 40 - 51 47¼- 53 51 - 57¾ 52 - 55 52¾- 63¼ Detroit United Ry .. . ,. .. 76½- 78¼ 77¼- 'i9¼ 78 - 84¼ 83 - 86¼ 81½- 9l1¼ 89~- 95 91'3- 9!l 92¾- 95¾ 93¼- 95 91 - 94¼ 91¼- 94¾ 92¼- 93¼ Diamond Match....... .. . .. - . ... .. - .... 138¼-138¼ .... - ... . 140 -140 .... - ... . .... - ........ - ....... - .... t42¼-142¼ 140¼-146¼ 141¼-142~ Distillers Sec't' ■ Corp.. 84%- 39¼ 86 - 38¾ 87¼- 47 40½- 4.7½ 40 - 45 41¾- 43¼ 40¾- 41!1, 42 - 4'1 41½- 48,½ 42 - 47¾ 4874- 48 46¾ · 54¼ Dlstill'a of Amer., p:rei . .... - ........ - . . . 50 - 65 63 - 63 .•• - . . .. . .. - . .. . . •. - . . . . . .. - • ......• - . . .. . .• - .. ...... - ... . .••• - •••• Eastman Kodak ......... . .... - ... .... - . ...... . - ... 148¾-119¼ .... - .... ... - ... .. ... - ... . ... - ... .. .. - ... . 148¾-152½ 15~-157½ . ... - •••• Elec. Storage Battery . .... - ... 86¼- 89½ 88¾- f8½ 81\14- 89½ 76 - 81 78 - 80 79 - 83 82 - 87¼ 85¼- 88 83 - 85¼ 81 - 88 80 - 88 Federallllin.&Smelt 60 - 66¼ 63 -120 101 -116 105 -128 100 -115 100 -107¼ 100 -109 109 -114 110 -112 L12 -123~bll5-145 182 -141 Pre I........................ 75 - 79 78 - 97 89¼- 96½ 114!,p-107½ 90 - 98¼ 92 - 96½ 90 - 96½ 93¼- 96 92 - 93¼ 93¾- 9!l¾ 96 -bllO½ 105 -110}( General Chemical. ...... 57¾- 60 59¾- 59:k! 66 - 66 69½- 61 62 - 62 60¼- 62 61 - 63 63¼- 63¼ 64¼- 68 'iO - 72¾ ...• - ... 74 - 80 P1•ef.. .... . . . . . .. ... . ... .. 101¼-101½ 102 -104 102 -103¼ 101 -10th; 102 -103 104 -104 104 -105 106 -106 105 -105!)4 106½-107¼ 106 -106% 106 -107 General Electric........ 181¼ 190:Ja L85½-189¼ 184%-192 171 -191 169 -177¼ 172½-176¾ 172 -180¾ 178 -le6 178 -188 179 -100¾ 181¼-190¾ r.i174-187¼ Rl11 bts. .. . . . . . . . . . . . . . .. . . . . - . . . . .. . . - . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . - . . -. . . - . . . . . . . - .... -. . . - . . .. . . . . - . . . . . . . . - . . . 9 - 9¾ Gold & Stock Telear'ph . .. .. - ........ - ........ - ........ - ........ - ....... - .. . .. .. - .. . . - .... - ... . .. - ........ - ........ - ... . Havana Electric•........ .... - ... .... - ... . .. - ... 15 - 17 15¾-- 17 15 - 15 15¾- 19 18¼- 25½ 23¾- 24¼ 23%- SO½ 28¼- 37¼ 33¾- 88~ Prd . .. . . . . . . . . . . . . .. . . . .. . . . . - . . .. .. . - . . . . . . . . - . . . . 60 - 62½ . . . . - . . . 50 .. 61¾ 63 - 65¼ 65 - 74 70¾- 73 71¼- 7~ 75 - 79,ti 75¼- 82 H. B. Claflin Co ......... , 100:1(-100!'-( 101¼-102 .. . . - •••. 105!J4'-105!h 107 -107 .. . . - • • . . . . . . - • • . . . . . . - .... 110 -110 .. . • - . . . . . . • • - • . . . . • • . - •••• tat pref ................... .... - . .. . ... - . .. . . .. - ... . 94¾- 94¾ .... - . . . .. •. - • ... . .. - .... .... - •••. 97 - 97 .... - ••.. ..• • - •.•...•. - •••• 2d pret . ....... .... ..... .. . . .. - . . . . . .. - ... .. ... - .... 100¾-100¼ 101 -101 .... .... - • . . . . •. - ••...... - . . .. . .• - •... .... - ........ - .••• International Paper.... 20¼- 23% 20 - 23 21 - 25¼ 20¾- 24~ 18'¼- 21½ 18¼- 20 18:k;- 20¼ 19¼- 22¼ 19¼- 23¼ 21¼- 24¼ 20¼- 24¾ 22¼- 25¼ Pref. ...................... . 76¼- 78½ 76¼- 78 76¼- 82 7S - 82¼ 7o - 79% 78¾- 79¼ 78 - 79% 78¾- 80½ 78 - 80½ 78¼- 82% 79 - 87¼ 83¼- 88¼ International Power... 65 - 67 66 -100 88 - 93¾ 92¼- 97½ . ... - .. .. 60 - 85 70 - 75 66 - 72 57 - 65 48 - 5:; 49 - 60¾ 55 - 60 Internat. Steam Pu mp. 87 - 89 37¾- 40'¼ 39 - 89% 32 - 87¾ 29 - 83 27¼- 30 27 - 29)4 29¼- 29½ 23 - 28 27 - 28¾ 28¼- SO 26 - 28 Pref....................... . 86¼- 87'7/4 86¼- 87 85 :- 88½ 63¼- 88% 78½- 88).Q 78½- Sll,.i 80 - 81¾ 82¼- 82¼ 62 - 85:11- 81 - 85 81¼- 83 "8¼- 82¼ Knick. Ice Chica1ro) .... 10 - 10 12 - 13 13 - 20½ 16¾- 21¼ 18 - 20¼ 19¼- 24¼ 24%- 34~ 81¼- 84½ 29%- 32~ 29 - 32% 28 - 53,½i 50¾- 68 Pret............ ............ 60 - 61 61¾- 64 66 - 73 75 - 76 .. . . - • • . . 64 - 64 78½- 75¾ 7!l - 74~ . . • • - • . . . . . • • - • . . . 72 - 76 75 - 80 Laclede Gas, St. Louis . . . . - . . . . . . . . - . . . . . . . . - . . . . . . - . . . . . . . . - . . . . . . . . - .... 105 -105 . . • • - • . . . . . • . - • . . . . . . . - . . . . . . • - • • • . . • • • - •.•• "Pref................... . .... .... - ........ - ... . 100 -101 .••• - ........ - •... 105 -105 .... - ... . .... - .•.. .... - ....... - •. . . . .. - •......• - .• .• Manhattan Beach Co.. 9½- 9¼ 12 - 14 10 - 12 .. . . - . • . . . . - . .. . •. - . . . . . . . - . . . . . . - . . . . 9 - 9 9 - 9 . . . . - . . . . 8 - 18¾ Metropol'n Securities .. 73 - 79¾ 77¼- 8!½ 81 - 91 75¼- 68¾ 7i¾- 79~ 76¼- 84 81 - 85¼ 81½- 85¾ 79¼- 83¾ 76¾- 82¼ 68~- 79¼ 71¼- 86¼ Metropolitan Street ... 114¼-121¼ 115%-128¾ 121 -125¼ 115 -123¾ tl4 -119¼ 117 -128 125 -131 126%-133 124 -129¾ 117¾-12i¾ 114:',4-125½ 1♦17¼-130¼ Mon-trealL.H.&Pow . .... - .... . ... - . ..... .. - . . .. . .. - .. .. ... - ... ... - ...... - . .. . .... - ... 92¾-92~ ..•• - .. . . .. . - •••. . ... - ...• National Biscuit......... 64¼- 56½ 54¾- 60 58¾- 62¾ 59%- 66:k; 57 - 62 60 - 6331, 54¼- 62½ 52 - 60 5'1 - 57¼ 5-1¼- 56¼ 65 - 58¼ 56½- 69½ Pref............... . .... 115¾-116½ 115%-118 ll7 -120¾ 117¼-120 116;14-119 117 -118½ 112 -118 110 -11 5 112¾-114 118 -116 U2!,,4-115 113¼-115¾ Nat. Enamel. & Stamp. 18¾- 22½ 19 - 26¼ 23¾- 25¾ 24 - 81!1i 25 - 28½ 20 - 26½ 22 - 27 11 - 25:)ii 12¾- 16¼ 14¼- 16½ 14½- 18 15:!4;- 17¾ Pref......................... 90 - 90 89½- 91 92 - 93 92 - 94 90¼- 92½ 86 - 91 89 - 91 80 - 90¾ 86 - 88¾ 86 - 90 88 - 90 88 - 88 National Lead Co....... . 24¼- 27½ 26¾- 39¾ 33½- 47¼ 42½- 51¾ 41¼· 4lJ¾ 43 • 47¾ 43¾- 4i'.¼ 43¼- 49½ 44~- 46¾ 45¼- 52¼ 46¼- 74% 73¼- 89½ Pref........................ 97%-101¼ 101 -111¼ 102¼-111 105)4-110 104 -109 103 -104% 103;¼-105¼ 105 -105½ 101¼-102½ 103¼-107 105 -109¾1'02½-109¾ New York Air Brake .. 147 -159 150 -154¼ 149 -159¾ 16'1 -161¾ 140 -154 146 -152 1'5¼-152 151111-157~ 151%-155),:4150 -162½ 159 -168¾1&.l. -Hl7¾ N. Y. Dock................. 26½- 26½ 23 - 27 23½- 24 ... . - . . . . 21¼- 24 24 - 25 28 - 28 . ... - ... . .... - .. . . 26½- 26½ 25¼- 27¾ 27 - 34!'.( Pref ............... ..... .. 59 - 59¾ 60 - 63 69 - 66 59 - 61 61 - 62¾ 63¼- 67½ 67¼- 67½ 67 - 75 72¼- 77!,4 .... - .... 74½- 77½ 76 - 79 N. Y. & N.J. Telepb .... 167 -168¼ 170¼-172½ 178 -174 170 -172 171¾-173¼ 167 -172½ .. • - . .. . 168¼-170 t67 -167 168½-171 169¾-170 ..• . - .•.• Rlaht ■ ••.•.•. ....... .. .. . .... - .. ... ... - ........ - .... .... - ... . .... - .. .... .. - .. . . .. - . . . . ... - ..... .. - ........ - .... 12¾- 13¾ ... - . .. . No. Am. Co., new stock 98 -104 100¾-105 100 -104 100 -107 97½-lCS 97¾-100¾ 98 -101½ 99 -103 93¾-100 96 - 99 95%-103 97 -102 Rights.. .. ... .. . . .. . ... . . . ... - ........ - . . . ¼- ½ . .. • - ........ - . ... .... - ..•. · • · · - • •· · · · · · - - • · · · · · - · •· · · •• - · · · •• • - ·· · • · • - ... . Pacific Mall 8. S...... ... 42 - 48)4 43.)4- 48½ 43¼- 47¾ 88 - 46½ 33 - 39¼ 87 - 44 42 - 4.4¾ 42¼- 48¼ 42~- 46 4!l¾- 50¾ 45¼- 61¼ 46¼- 53¾ Peoples' G.-L.& C., Ch . 105¼-108¾ 106¾!-1091'4 107% -114 102¾-115½ 97¾-110 99~-10!¾ 10! -106¾ 108}4-107¼ 101!)4-104¾ 102¾-105¾ 100 -105:iii 99 -109 Phil a. Rapid Transit .. . ... - . . . . ... - .... 118¼-12i 120½-132 123 -124 112½ ·117 . •.• - . . . . .... - • . .. . - • . . . . .• - ••.... .• - . . .. . .. - ..• P. Lorillard, pret ... ... . 120¾-122 .. . . - .. .. ... . - .... .... - ........ - . ....... - ........ - ... . . .. ... - ... .... - .... .... - ....... - •.•• PreHed Steel Car ....... 33¼- 88¾ 35¼- 89 36 - 41¾ 36 - 46¾ 34 - 40½ 86¼- 89½ 38 - 4S 42 - 47¾ 42 - 46 45 - 5:3% 47¼- 53¼ 51¼- 58¾ P1·ef.. . . . .. .. ..... .. ... . . . . . 88 - 92¾ 87 - 91¼ 87¾- 94½ 93½- 99¼ 90½- 96 90½- 94 93¾- 95¾ 95 - 97:}.; 95¼- 96¼ 96 -101½ 97 -101¼ 99 -101¾ Pullman Co. (The) ..... . 237 -243 ~42 -254 2i2 -250% 288¼-249½ 280 -2!0 237 -240 239 -211¾ 240 -259 247:1:(-256 249 -257¼244 -252 245 -250 Railway Steel-Sprinir.. 32 - 84½ 33½- 37 33 - 38 83¾- 40¾ SO - 36¾ 80¾- 33 83 - 86¼ 35½- 37¾ 35 - 48 ¼2¼ · 47% 46¼- 62¾ 58 - 63½ Pret....... .. ... ....... . . 93 - 94½ 93½- 98 93¼- 97¾ 95½-103¾ 95¾- 99 96¾- 98¼ 97 - 99½ 97 -101½ 93¼ -105 102 -lOi 102)4-106 108 -105¼ Repub. Iron & Steel... 15 - 17¾ 16 - 23¾ 18 - 23¾ 17¼- 24% 15½- 19½ 16¾- 20¼ 19¾- 21¼ 20}(- 22½ 20 - 2-1¾ 28¾- 27¼ 23¼- 33~ 32 - 36¼ Pref........................ 67 - 71¾ 68½- 87½ 76 - 83¼ 71¾- Si¾ 68¾- 76 71½- 79 78½- 84 83 - 90 87 - 95½ 92¾- 99¾ 92¼-104 102¾-108 Rubber Goods Mfir .... 25¼- 28¾ 25 - 27¼ 21 - 81½ 29¼- 35¾ 29 - 38 81¾- 34¾ 83½- 35¼ 34¼- 35 31 - 89 36 - 38% 37 - 89 38¼- 4:llil.( P:ref............. ...... ... 94 - 95½ 95½- 99 95½·105¾ 104 -109¼ 102 -109 100 -104¼ 10-l -104½ 105 -105½ 104 -10! 104 -105¾ 103¾-105 105 -106 Slo88•SheffleldSt'l&I, 60 - 63½ 61 -118½ 83½-108 80 -100 69¾- 8-! 70½1- 83½ 80 - 87¾ 85½- 93¾ 68½- 95~ 69 - 73¾ 69¼- 95½ 86M- 94~ Pref ................. . ..... 100 -102½ 104¼-130 .•.. - .... 115 -115 104 -104 105¾-105¾ 105 -107 107 -107½105 -105 110 -112 112¼-1Ul)4 ..•• - •.•• Stand. Rope & Twine. . '3- 3 1 - 2 %- 1% %- 1½ '3- 1 '¼· '¼ ¾- 1 1 - 1% 1 - 1¼ 1 - 2 l¾- l¼ ..•• - .•.• Te.xa11 Pac. Land Trust 87¼- 38 38½- 42½ 40 - 46¼ 41¾- 45¼ 40¾- 42 40¾- 43½ 42½- 43½ 42!!4- 46½ 4! - 483,s 47 - 4.8 48 - 65½ 61¼- 66 Third Avenue ....... ..... 129¼-181 128 -134¾ 126¼-132~ l2! -131% 125 -129 126 -132 126¾-131'¼ 127 -129½1267,(-128½124 -126 122 -123 120 -141 Toledo Rys. & Llllht .... 22,4- 23 22¼- 26¼ 25¼- St! 30¼- 37¾ SH(- 35 81 - 33 33¼- 35 31¾- 35¼ Si¼- 35 32¾- 35¼ 32¼- 33 82}(- 83 Twin City Rap. Tran ... 105 -109).4 105 -108 107½-115½ 108 -122½ 108 -115½ 109¾-114¼ 110%-115 113¾-119¾ 115 -118¼ 1159(-11{1~ lU -117 114: -118 Pre4 .... ...... .................. - . . . . . . . - ... l65¼-lf8 154 -15! 153!)4-157½ 160 -160 ... - ........ - •••• . ..• - .......• - • •• . • •. - •••. 160 -160 Rlarbts.... ................ . ... - . .. . . . . - ........ - .. . . . .. - .. .. . .. - .. .. ¾% %- ¾ .•. - •....... - ... . .• • - ••• .. ••• - •.... . •. - •••• Union Ba1r & Paper.... 9 - 10% 9¾- 10% 10 - 14¼ 11 - 15¼ 9¾- 13% ~- 11½ 9 - 11¼ 10 - 11¼ 10 - 11¼ 11¾- 15¾ 12%- 15 13¼- 153' Pref........................ 68 - 73:}.i 73 - 76¼ 74¼- 79¼ 76 - 82 71¼- 77¾ 69 - 74¼ 72 72- 74¼ 'i3¾- 81 75½- 80¼ 79 - 82½ 79 - 82¼ 80 - 82M United Fruit ............... 106¼-106½ 106½-114½ .. .. - . .. . ... - . . .. . .. - ..... ... - ........ - .. . ..... - . . . . •.. - ••.. ...• - ... .. ..• - • . . . ••• - •.•• Unl.tedRys.Inv.ofS.F. 21¼- 26 26:ki- 39½ 87¼- 50 87 - 4S¾ 89¾- 431,t 41¼- 56!,t ..57½- 66¼ 64%- 74 71¼- 79¼ 751'- 77¾ 76½- ~9% 87 - 92½ Pref....... ................ 64¼- 72½ 72¾- 80 78 - 89 80 - 87 78 - 8!¼ 79)4- 88 85¼- 87¾ 87J.4:- 90 86 - 91¼ 90 - 92 90 - 91% ~ - 9!" Un. Rys. of St. L., pref. .... , ... . .... - ..... .. .... - . .. . ... - .. . 80¾- 82 80 - 80½ 80¼- 82 81 - 81% 81¾- 82½ 81¼- 85 88 - 85 U.S. Ca ■ t I:r. Pipe & F. 19¾- 25¼ 24¾- 31½ 29¼- 3! 29¾- 3,'¼ 27¼- 31¾ 28¾.- 31 so - 32!<! 29%- 32¼ 2.l¾- 31¾ 81¼- 41 86¾- 4314 ti)¾- 48~ Pref•...................... . 79¾- 86~ 8! ~ 90 87 - 91½ 90½- 97:J:f PO - 95 90 - 94% 92½- 91¾ 91 - 94 90¾- 91¾ 91%- 97¼ 92¾- 96~ 91M- 963' V. S. Leather ............. 12¼- 14¾ 12 - 14~ 11¾- H 11 - 18 11¼- 18 11¼- 13:1( 12¼- H¾ 13 - 13~ 12~ 13 12%- 16 14¼- 14:311 U - l!S Pref............. .......... . l()0¾-102½ 1027'-106¾/03_19-109¼ 107%-109½ 106 -107¼ 107 -108:14 1081klll½ 110¾-111 1108¼-lll¼llll -115½ 117¼-119 lllS¾-1~ a~-div. andl'iahts. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD A 114 EOUS STOCKS. 190:i-Conclnded. STOCKS. JANUARY FEBR1RY. APRIL. MARCH. MAY. JUNE. AUGUST. SBPT'BER. 0cTO-BER. NOV'BER. DEO'BEll., JULY. -- - - Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.Hi1Zb Low.High ---- ---- ---u. 8. Leatber-(0on.)Trust Co. ctfs ..... ...... .... - .... 11~ 12¾ 11 - 14¼ 11)4- 14¼ 10¾- 12!,t; 11 -H 13¾- 1~ .... - .... .... - ... . ... - .... .... - .... .... - .... Pref. Trust Co. ct1a .... .... - .... 103½-lOt!¼ 103¾-107~ 107 -110 106 -1~ 107¼-111~ lll¾-114 .... - ........ - .... - .... ... - .... .... - .... U.S. Realty & lmpt . ... 77 - 82 81~- 91 89 - 9~ 88 - 9tl¼ 84M- 90 89 - 9t 89 - 93 89¼- 94ll:( 87 - 91 ·•·· ~-89¼ 84: -8~ 84 - 91 U. ~. Reduc. & Refin'g. .... - ... 18 - 18 22¼- 29 41 - 55¾ 83¾-~ 36¾- 4!~ 40 - 43¾ lat pref ................... 98¾-101¾ 100 -115 109¼ 115 Pref ........................ 85 - 85 U. 8. Rubber Co ...... .. ---- 27~- 40}4 26)4- 83 .... .... 36¼· 45½ 85¼- 4:2¼ 102 -118¼ 10! -111 .. ... - pref...... .. .......... .... - . ... ... . - .... .... - . . .... U. s. Steel Corporation 281'- 31¾ 80 - 85¾ 83¾- 37¾ 8~- 88¼ Pret.. ..... . ................. 91¼- 95¾ 93¾. 06 08¼- 9i~ 95¾-101¼ V o..-Car. Chemical. ..... 32.¼a- 39 83.¼a- 39 33 - 37¾ 34 - 38 Pret. ...... . ............... 105 -109½ 106¼-110 105¾-10 ½ 105 -103½ Vulcan Detlnnlnar........ 9¼- 10¼ 8½- ll¾ 10 - 10½ 8 - 14¼ Pref . . .. ......... ...... . .. .... - ... . . ... - .... ... - . .. 49 - 52 Wesrern Union Tel'arh .. 92 - 95!,( 921'· 9~¾ 92¾- 94~ 92¾- 947-i Weatinarh. EI.Mfa.aH't 176 -li:13½ 178 -182 180 -183 170 -184 1st pret ................ .... 191 -193¼ 19J -190 192 -192 190 -197 ~d 2d¼- 33¾ 29¾- 84¾ 81 - 35¾ 28il:(- 32 27¼- 81¾ 27¾· 80¾ 29 - 82,t 671'• I 64'.¼- 72¼ 64¾- 73 68¼- 73¾ 65¼- 73 49¾- 57¼ 36¼- 41¼ 40 - 52¼ 51 - 55 47¾- 58¼ 50¼- 57 47¾- 67 101¼-109½ 106¼-113½ 109¼-lll¼ 108 -lH¾ 109%-112 105)4-112¼ 108)4-112 . ... 79 - 83:)( . ... . ... 75 . 81 , . · ·•· ··•· 25).s- 32¼ 81¼- 36¾ 30,t- 37¾ 8!¾- 38½ 37 - 89~ 35)4- 88½ 86 - !lS 91 -100 98¾--104: 103½1-105¾ 101¾-105% 108½-105¼ 100¾-105¾ 10~¾-107 83 - 36).s 33¼- 87½ 32!,d- 85 291}4- 33 81½- Si~ 82½- 41¾ 8::iM- 5S 107 -109¾ 101¾-109 105 -108 105}4-109 106 -108 107¼-113 112¾-118'4 12 - 12¾ - . 10 - 10 10 - 11¼ 11¾- 11¾ 9)4- 10 . . - ... 50 - 52 . ··• 92¾- 95¼ 92¾- 93¼ 93¾- 94::){i 93 - 94~ 92¾- 98¾ 92¼- 93~ 92 - 98 -170 162~-171 -177 168 -171½ 166 167½-179 170 -177 166 -169 168 190 -19i 195 -195 U14½-19'1 190 -192 187¼ ·190 . - 55 - 70½ 56¾- 68½ 60 - 67¾ 66 - 70 .... - .... 24¾- 83!,,( 90il:(-101:}s 31¾- 35¾ l03¼ ·107¼ 12Jfr- 12¾ 5!¾ · 54¾ 92 - 93½ 15Z -172¼ .... - ... ... .... .... .... .. .... ... .... - .... - .. .... - ... .... - .... ... - ... .... - ... . ... .... - .... J 1906. STOCKS. JANUARY FEBR'RY. MARCH. _APRIL. MAY. JUNE. JULY. ---- ---- - - - - - - - - - -· Low.Hillb Low.Hi1Zh Low.High Low.Hi1Zh Low.High Low.Hillb Low.High - - - - - - - - - - - - - - - - ---- AUGUST. SEPT'BER. OCTOBER. NOV'BER. Dl'lO'BER. - - - - - -- - Low.Hi1Zh Low.High Low.High f4ow.Hil!"h Low.High - ---... .. ... - .... - ... RAILROADS. ... ... . .... 80 - 30 ... .... ··•· - .... · •• - .. .. .. .. - .... ... - ... .. .. - .... &nnArbor.................. ·•·· . .. ..... .... ... - . &tchlaon Top. & 8. Fe . . 89 - 96¼ 88~- 98¼ 88¾--95 87¾- 95% 85¾- 91¼ 87¾- 91~ 1:15¾- 92¾ 9i)4-10~ 104 -110¼ 99¼-109 9i¼-101~ lOU¾-1• (j¼ Pref ....................... . 102¾-106 102¼-104}:i 102 -104~ 100 -101x, 91!¼-103 99M-103 98)4-100¼ 100.lol(-101'4 100 -101½ 1()()¼-101¼ 10~-102 98 -10~ .... - ... .... - ... ·· •• - .. . . ... . ... .... . . .. . ... - . ... .... ¼- ,ii ¼- ~ ¼- ~ Rlahts.................... . .... &tlo.n. Coo.at Line RR 157 -167¾ 157¾-165}{, 151 -162 138 -157 187¾-147¾ 13t¼-149}.a 181).s-14.l¾ 14:l -149)1 183½-146 13f> -142¼ 183 ·llO:>:( 131½-188¼ .. . ... . - . .. 4¾• 5¾ 4¼· 5% 3¾- 4 ... - .... ... - ... .... - .. .... Rla-hte ................ . .. .... . - .... . Baltimore & Ohio ...... . 112~-117 109¾-116~ 108:ij-112~ 106 -115 10~-109 L0:9'-119¾ 115 -121¾ 116 -122:k, l17;.( 125¼ 116!J4-124¾ llfl¾-120¾ 117~-121% 92¼- 95;. 92 - 94½ 92 - 93¾ 92¼- 118 91¾- 94 91 - 92,X! 91 - 92½ 9~¼- 93~ Pret . ..................... . 98 - 99½ 97 - 99 96 - 97,t 94~- 98 . -·•· - . .... ... ... . . Rla-hts ........ ¾· ¾ ¾- 1 ... · ••· -114: 112 ... .... . ... .... . .... . ... ... . - . ~ubecrlptlon certfs . .... ·•· · . 110 -110 · ••· ... ... . .... . .. . . ... .. ... ... - ... . .. .... .... . Boe. &N.Y.A.L., pre1. .... - ..... . ... ... · • ... L24: -128 126 -H 150 -150 140 -144 153~·163.½ Buff. Roch. & Plttsb ... . 153 -158 · ••· .. . 139~-14.l 148 -150 . . - .... . - .... . - .... Pref ....... .. .............. ... . - ... - .... .... - . .. ... . .... ... 88~- 83\i ... .. . ... Buffalo & Su11q., pret •. . 88 - 86!,4 85 - 87 85 - 85 85 - 85 .... - .. · ••· .... · ••· - • ·· · . . - ... 156 167'4-17.!¾ 168 -174¾ -162~ 157¾-166 155¾-161~ 164M-179~ 172¾-182:h 169 168 182¾-201 -177~ 172;(-l~ -175¼ .. 178½-183 Canadlo.n Pacific . .. . 155 -155 155~·158 153:)4-161 L68 -174 176 -179 181¾-181¾ 178¼-182 190~-190 .... . ... .... .. •· · Subscription recta .... ... .... . ... ... .... . ... ... . ... - . .. . .. .. - . ... ... .... .. .... - ... 11½- 12¼ 11¼- 12 . Rlarbta .................... ... Canada Southern ....... 69 - 70h 68 - 68¾ 67¼- 61}>4 66¾- 6~ 661'- 69.14 65¼ · 68¾ 68 - 68~ 66 - 68:){i 65).s- 66~ 66- - 68 66½- tl9¼ 66¾- 67 -219 213 !05 -222½ 204 -239~ 218 -287:1-.1 220 -21!7½ 2i9 -232 228 -233:J.t 221 -231 217 -23J:J4 ll2 -228 Central of New J eney . 222 -281½ 212 -225 Cheaapeake & Ohio .... 54¾- 62¼ 55~- 60~ 5!¾- 59\. 53~- 60x 53¼- 59~ 55~- 59¾ 5!>:{- 5~ 58¼- 65~ 62¼- 65 56:¼- 68¾ ol½- 56~ 51~- 61 ... 25~- 32Xl 29' - 35~ 29J.9- 3Z¾ 26¼- 31 Chlca1ro & Alton ......... so - 38 -:. 30 - 32~ 31½- 31½ 30.!,i- 35 25 - 30 3) - 80"' ... - ... .... 76~- 78~ .. .. - ... ·••· - ... 75¼- 75"x! 75½- 77¼! 75 - 76X! 70 - ~5 Pref ...................... 74¼- 8~ 'i9 - 79¾ 781'- 7~ 74½- 7ft½ 74 - 77 .... 205 -205 .... ... · ••· - ..... ~o~ -2112 ... - . - ••· W7¼-207½ 207 -207 207 -22,J Obie. Burl. & Quincy .. ··• · ... ....... .. .. .... ... 126~·126!,t ... . ... . ... . - .. . 125 -125 . - .. Chic. & E. Illinois, pret. .... . 1'3}(16~22~ 18!,4 16 17¼- 20½ 17¾- 19~ 17~- 18¾ 17¼- 1!.l½ 17 - 18¾ 17¾- 18 - 19~ Chlco.a-o Great Weat ... . 2~- 28:H, 20¼- 28 20¼- 21~ 4 per cent debenture. 85¾- 86X? 85 - 86½ 8!~- 85 84 - 84 83 - SJ¼ 80½- 80 80 - 80½ 79~- 82¾ 79¼- 82½ 80 - SJ~ 79½- 81 81 - 81 72~- '1514 76 - ?i¾ 74 - 76¼ 74 - 75 75¼- 78½ 74¾- 78~ 74¾· 77 7tl¼- 80 71~- 73½ 70 - 72 76 - 80 75 - 80 ~ p. c. pref., A ......... . ~5),.(- 27¾ 24¾· 27~ 2 ;¾- 26~ 83 - 38 81¾- 8fl¾ 25\fi- 31~ 25 - 26¾ 26 25¾- 28 84~- 89½ 36~- 89),4 35:ij- 88 4 p. c. pref., B .. ...... . Ohle. Mllw. & St. Po.uJ. 179¾-193 176¾-~ 172~-179¾ 162¼-170x, 15f)¾-171¾ 16{}¾-182¼ 167¼-l:.-i2¼ bl74!,(-93Ji 170 -188 168il:(-178¾ l60½-189½ U46~99 Pref ....................... 190 -196 LOO -190½ 182½-185½ l:U -185½ 177.¼a-181 181 -191 182 -191 193 -218 193 -199 190 -196 188 -207 ; L60 -210 .... li\Jf- 18 16¾- 18~ ... - ... . .... - .. 311.g• 35~ ... Rlabts .... .. .............. - . .... ... ... - .... .... ··• · .... - ... . .. - .. . .. - . .. .lt32¼ 33 ... . .. . ... . Su bscrlp. warrants . . - , ... - .... .... - ·•• · Chic. & Northweat . ..... 220 -240 225¼-289\.\ 221 -238 192 -215 194¼-207 193 -209¼ 193 -202,t 202 -215 205¼·215¼ 201¼-21'3),4 WO -209¾ 11n -211 Pref ........................ 250 -257 255 -267 253 -270 235 -250 230 -240 230 -238 ·•·· - ... 225 -239 ~82 -24:) .?35 -2!1.4: 235 -287 2;iO -288¼ .... ... .... - ... .. - .. . - .. .. - . 18 - 22¾ 19M- 19¼ .. .. - ... . - . Ria-ht• .................... - ... . ... - . .. .... . ... .... - . .... . - ... . 150 -150 . - . ... ... - . ... .. . .... . .. ... - .. . - . - .. .. C hlc. R. I. & Pacific .... Chic. St. Paul M. & 0 .. . 190 -198 186¼-194 183 -1~4½ 175 -184¼ 171 -17~ 168 -168 168 -170 li7½-184 175 -181 H:!O -180 175 -176 180 -1~0 Pre1 ........ ..... .......... 200¼-20~ 190 -195 188½-189 189 -189 .... .... 176 -176 180 -180 181 -186 187 -189 178 -ld3 175 -180 181 - 181 13 - 18 11 - 11¼ 11 - 11 12 - 12 10¼- 12 12 -14 9¾- 11!,4 11¼- 12.½ 12¼· 14 Chic. Term'l Tranafer. 13 • 18¼ 12 - 16¼ 11 -14 Pref ....................... 36 - 42~ 28 - 41 ~-32 27 - 29 28¾- 29 28 - 84 2~¾- 2S¼ 29 - 83 28¼- 2&~ 26 - 2:3 26 - ~ ... 25 - 25 9ll).4- 98x, 82~- 95¾ 92 - 97;(j 91¼- 98 SJ - 98 82 -lOJ 90]499 86 9 8~ 85 90½-10i¾ 95½ 105 100 -106~ Olev. Ctn. Chic. & St.L. -109¾ ... 110 -113¾ 113½-113~ l.18¼-114 112~-113¼ ll2¼-112>-1! 110 -110 Pref...................... . 118 -118 1151i-117 115%-115% 115 -115 112 -112 - ·••· ... - ... . Ria-ht ■ •••••••••••••••.•. . - .... - .... . - . . . - .. .. ¾.. . - ... · ·• - •· - ... . .... - .... ... .... .. . ... ... 95 - 96 110 - 90 96~-100 . .. 85 - 95 Cleve. Lor. & Wheel .. 85 - 90 90 - 92 · ·• - ... .... -105 105 .... - .... ... .... l05 -105 - . Pref.. .... ............. .... 112 -112 ... · ••· · ••· - ... 110 -110 - .. .. .. - .... l73 -173 -176 .... .... . .. 176 . . .. ... . 175¼-175.½ . ... . .. . . ... Cleve. & Plttsb. 1ruar . . .... ... ·••· · ••· 36~- 88~ 35¼- 87~ 86~ 40¼ 86~- 39½ 35 - 887 31¾- 86 80 - 84~ 83 - 34¾ 31¼- 37 Colorado & Southern . . 29¼- 37 82¼- 35¾ 82¾- 86 "' let pret................... . 68 - 72¾ 70¾- 73,i. 69½- 72½ 66¼- 721k, 66¼- 70½ 67 - 70¾ 67 - 70~ ~-71¾ 67½- 69,½ 67½- 611~ 63 - 69~~ 66¾- 69 47 - 52¾ 45 - 62~ 60 - 63?~ 49 - 51 ¼ 60!1:(- 5~¾ 65½- 67¼ 55 - 69 48 - 51¾ 47 - 51¾ 48 - 49 53 - 56¾ 50¼- 54 ~d pre1 . .. .... - .... .... ... . . .. . 77 - 80 69- - 68 ··•· - .... . . .... - .... Cripple Creek Central. - ... ... - ... . ... - ... . · ••· Delaware & Hudaon .. . 217¾ ·229 ,. b204-218,½ 202 -20~ 190 -215 189 -215 209¼-231 205 -221½ 216 -22cl JU -22.J¾ i14¼-226'A 213¼-234'}.i ~15~-282 ... - .... . ... - ··• · .. . - . ... .. . - . .. ... - .... .... - . ... Rlarhta............. .. . .... - .. . 2 - 2:kl 2 2¾ .... ·•• · .... - .. ... Del. Lack. & Western . . 459 -472½ 460 -474¾ 440¾-450 438 -455 437¾-560 522 -550 490 -550 5)0)4-530 540 -515 550 -554½ 54:2 -5n5 515 -515 Denver & Rio Grande . . 38 - 51¾ 42)4- 6'1 42~- 4tj¼ 40 - 4.7¾ 36¾- 44½ 89¼- 47¾ 37¾- 4! 42 - 43¾ 41¾- 4l¼ 39 - 43¾ 89 - 4:i~ 41 - 43 Pre1 ............... ....... . 67 - 9l½ 87¼- 00½ de¼- 88~ 85 - 90½ 84¾- 88 85¾- 811!-:i 88¼- 85 84 - Si~ 1:15 - 8d !S3 - 85¾ 83¼- St!>( 83½- 80 .. . - .. ... Dea Mo. & Ft. Doda-e ... 28 - 23h 20 - 20 .... - .... 21 - 22~ . ... - . ... 14 - 14 18 - 20 .... .... . .. . - ... ... - .... . .. - ... . Det. & Mackinac, pref. ... - . ... - .... . .. ... . 98¼- os,, . - ... . - .... .. 7 7 . .. 8 - 8 Det. So., vot. tr. ctta . .. 10 - 11 10 - 10½ 9¾- 9¾ 9!,4 · ••· 9¼- 9½ 9¼- 9~ .... - . ... · •• - .... 8 Pre1. votlnar tr. ctfe.... 34 - 35 .... - .. .. - .. 33 - 33 . .. . ... 27 - 80 .. - .... · ••· .... ... - .. . - .... . - ..... ... Duluth So. Sh. & Atl ... 19).fr- 22¼ 18¼- 21 16¾- 22!,4 17¾- 2134 16).fr- 19~ 16¾-19¾ 16 - 18 17¾- 20¾ 1-l!,g- 20¼ 17 - 19½ 16~- 19¼ 17¾- 21 3; - 41½ 37½- 42 37 - 42>9. 37½- 40¾ 37 - 42 39¼- 45 82 - 43½ f8 - 30% 85 - 80½ 813-1- 38 Pref ...................... 37 - 43¾ 86 - 48 41!'-(- 46 41¾- 46 40 - 46!ki 38¼- 4'8¼ 42¾- 47½ 4,5 - 49~ 48 - 49 Erle"···········••••••······· 46¾- 60¼ 41¾- 48~ 41¼- 46 39¾- 45¼ 38¼· 47 let pref. .... .. ............ . 80 - SJ 77 - 80¼ ?6 - 'i9~ 75¾- 70Jii 75 - l:!0:)a 77 - 7il¾ 75¾- 79 77¼- 79¾ 'i6~- 78!,4 76¼- 77¾ 75¼- 7il"¼ 74;.(- 7 6tl¼- 6:19-i 64¼- 68 61~- 7~ 6~- 72~ 69~- 7J~ 66¼- 71 62¾- 72½ 67 - 72 !id pref................... 78 - 76~ 67 - 74 66¼- 70¾ 62¼- 71 , .... - .... .. .. ... 70 - 75 , .. . - . ... 70 - 70 68 - 70 . ... 76 - 76 .... .... . Evansville & T. Haute 75 - 76 .. .. 90 - 9i . 80 - 92 . .. 90 - 90 - ... 89 - 89 ... - .... . Pref ....................... . .. .. 88 - 8S .... . ... .... ... .... .... .... . .. - . ... .... ... 74 - 74 . .. . .... .... · ••· - . ... Ft. Worth & Den. City .... Great Northern, pref .. . . 288 -826¼ 305¼-848 8QS¼·S27 282 -827¾ 275 -so,~ 278¼ ·809 275 -298~ 293)4-334: 324: -&U 314 -33Sn SU -333½ d178-S20 . - . . ... - ... ... . . . Sub. rect ■ • lst paid ... t95 -295 .... .... 70¾- 85 . . . .... , .... ... Ore oertlficate11 .... . 81¾- 87 . .... .... ... Green B. & W .-Ser. A 92¼- 92½ .. - .... .... 86 - 86 . ·•• · . 16 - 70¼ 17 - 17 17 - 19 11'4- 20!,ii 12~- 15 IS - 14 Deben. cert11., l!!iler. B . 19¾- 23x, 20M- 21!,,t 19¾- 20~ 17J1i- 20}4 17 - 19¼ 128 -123 118¼ 118½ Hocklnar Valley ..... .... 114¼-119 118¼-115 11~-124 124: -185 128 -130½ 121 -134 126 -126¼ · ••· Pref ....................... 94¼- 951,t 94 - 95¾ 98~- 96¾ 9j¼- 98½ 93 - 98¼ 95¼- 99¾ 91¾- 95~ 96 - 98 98¾- 95 93¾- 95 92¾- 94¼ 93¼- 94 Illinois Central .......... . 174 -1~2 16B -179~ 166 -172!14 166!'(-176~ 164 -182 174¼-l.84¾ 171M-180 178¼-178¼ 171¼-177 171¼-177 l72~-180 165 -176 99¾-100}6 102~·102Ji ... 100~-100}( .... Leaaed lines atock. .. . t04M-104~ 108~-105 103½-103¾ 10~-108½ !04¾-104¼ ··•· ··•· Iowa Central ............. 20%- 84'4 80 - 84!1,4 80 - 32!,4 26 - 31¾ 24M- 28 24~- 29 24: - 27 26M- 31¼ 29¼- 81!,4 28 - 81% '}J7 - 80¾ 28 -3 4,8 Pre1 ...................... . . . 59 - 68¾ f>7 - 6!¾ 56 - 59¼ - 51 - 60 49 - 53 50 - 5~ - 52¼ 51 - 58¼ 49¾- 52~ 50 - 54:!l,4 49'.Jr f>~ 4:9¼- 52 cl lb: Oie certtd.:mtea. t Jb:·r1gbts. 1st lnstallmen.t paid. - ... - - - .. ... - . ........... .... - ... .... - .... .... - .... - .... ... - .... .... ... .... - - - .. .... .... - .... ... ... - .. .... .... ... - ... - ... .... -... - .... ... - .. .. ... - .... .... - .... .... - .... - ... ... .... - . ... - ... .. .... .. - ... - . ... - . .. - .. - - - .... - .... .... - - .. - ... - .... .. - .. .. - . ... .... .... .... - - ... - - - -. - ... .. - .. . - .. - - -. . . .. - .... - ... ... - ... .. -~ .... ... .. .... .... - .... .... .... - ... .... - .. - - .. .. - .. ... .. .... - .. .... .... - . - .... .. .. .. .. . .. - ... .... .. ... - .... - ··············•· .... ... https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis .. .... ... ... - .... .... ... .... - . - ... - - .... - ... .... - - - ... - ... - ... .... .. - .... ... .. - - .. - ... .. - .... ... .... ... ... ... ... .. - .... .. ... .... .... - .... ... - .... .. .... - .... .... - . .... - .... ... ... - .... .. - .. .. - - .... - - - - .... .. .... . .. .... .... - .... .... - .... - ... - .... ... .. - ... ... ....... - ..... ... - ... ... - .... .... - . -. ..... - ... - .... ... - .... .... - ... - .... - .. . .. . . ... - ... .. .. ... - .. .. - .... ... - .... - .... .. - ... ... - ... .... - .... ... .. - .... .. .... - ... ... .... - ... ... - RAILROAD AND MISCELLANEOUS STOCKS. 115 1906-Continned. JANUARY FEBR'RY. MARCH. APRIL. MAY. JUNE. JULY. AUGUST. 8EPT'BER. OCTOBER. NOV'BER. - - - -- - - - - - - - - - - -· - - - - - - - - - - - - - - - -· - - -· - - - - - - - - - -· - - - - - - - - - - - STOCKS. DEC'Bll:R. f,ow.Hlll b Low. High Low.High Low. High Low.High Low. High Low.High Low.High Low.Hillh Low.High Low.High Low.Hl,zb - 66 - 71 62 - 63_¼ 67 - 67 ..... Kann.who. & ll'llchliran. 56 - 58 5~66 62 - 58 67 - 72¾ 65 - 65 57 - 65¾ 56 - 75½ 68 - 76 ••• c 80 - 80 80 - 80 K.C.F .S.& ll'I. t. ctfs.pf. 82 - 83¾ 83 - 84½ 82 - 83 80¾- 82¾ 81 - 81 77 - 79½ 78 - 79½ 78¼- 80~ 80 - 80~ 79J.<!- 80 29 28¼- 811}.t 27 - 28¾ 26¾- 80¼ 29¼- 82¼ Kn.nsn.s City Southern. 30 - 37¾ 28½- 83¾ 28 - 29¾ 24¼- 29¼ 23½- 26½ 24 - 27~ 22¼ - 27 - 80¼ 50 - 54 55 - 60~ 66 - 69¾ 67¼- 62 52 - 69 Pret ........ .. . ...... ..... . 60 - 71 49 - 55 60 - 157 59¼- 63¾ 67¾- 60 68¼- 63% 68¼- 62~ .... ·••· .... .... - .... 14 - 14 .... - .... 14, -14, . . - .... . ... 10 - 14 8 - 13 . Keok. & Des Moines.... 4,i - 45 . ... .... .... .... - .... .... Pref.............. ......... . .... ... - .... .... - ... .... - .... .... - . ... .... .... 6 - 10),d .... - .... .... - .... . - .... . . - . ... . ... - . .. . ... - . ... . 7 - 10 K i n11:ston & Pembroke. .... - ... - .... .... - . .... 29 - 81~ 85 - 89 82 - 83 31 - 32¼ 30 - 32 Lake Erle & Western ... 38 - 44¾ 34¾- 38 3-1 - 40¼ 33 - S!:i¼ 32 - 38X! 271}.(- 83 27¾- 85 75 - 80 79¾- 80 80 - 84 Pret ........ ................ 92¼- 92½ 88 - 92 90 - 90 88 - 90 84 - 84 85 - 85 86 - 86 ... .... .... 335 -385 Lake Shore . ... ............ .... .... - ... .... - .... ... - . . . 300 -300 - ·••· . - .... .... - ·•· · ... - .. .... . ... . Lonar Ieland............ . . . 67¾- 81¾ 74 - 76¾ 70 - 73 70 - 75½ 69¼- 72½ 67 - 70 ... - .. ... 67 - 68½ 64 - 67 61¼- 64 63 - 63 61l,t- 66~ Louisville & Nn.ehvllle. 148½-166½ 145½-152¾ 1« -15l½ 141¾-152¾ 136¼-148¾ 140¾-151~ 138~-lU¼ 143¼-154½ 145½-152¾ 142½-14~ 140¼-149 141¼-HS'U ll'lnnbn.ttan Elevated .... 159½-162 155 -161 156 -1591}.t 15~157 147)4-154 147¼-152 147¼-H9~ 147 -150 140 -149 141½-146 142%-145 14()¾-146 Mexican Centro.I .. ...... 24)4- 26¾ 23¾- 26½ 23½- 25),:t 19!,t- 26 18¾- 23% 20 - 23¾ 19 - 21¾ 20¾- 22 20~- 21~ 20 - 24¾ 22)4-25§8 ~-t9½ ll'llcbla-an Central ........ 143 -147 142 -149 HO -142½ .... - .... . ... - . .. l44½-185 l60 -200 180 -190 195 -105 190 -190 185 -192½ 18t¾-184!J.( 63 - 73 Mlnneap. & St. Louie .. 80 - 84¼ 75 - 79½ 73¼- 77 75 - 77¼ 69 - 73 66 - 711).1 64 - 6d 72¼- 76 64¼- 67½ 68¼- 63¾ 66¾- 75 Pret .... .................. . 100 -100¼ 97 - 99¼ 93¼- 93l,fi 90 - 97 96 -96¾ 92 - 94¼ 92¼- 94½ 92 - 93½ 92¼- 92¾ 90 - 96 96 - 98 96½- 98 Minn. St. P. & S.S. M .. 141¼-163 150¼-159 148 -164 150 -160 145¼-159 163 -159 150 -154 151¼-1571).1 148 -156 147 -152½ 146 -148 134 -161),,( Pref ........... ...... ..... . 173 -1~ 171 -177¾ 170 -177½ 163}9-174¼ L64 -175 171 -1751)t 170 -111¾ 172½-178% 170¼-173¾ 168 -171:lt 165 -168½ 166¼-169 ~O¾- 86¼ 29 - 85~ SI¾- 36~ 31 - 3!¼ 32¾- 37¼ 35 - 87 32¾- 87¼ 83½- ~ 88¾-42'4 IU.o, Kansas & Texas... 36 - 40~ 33¼- 37¾ 33 - 36 Pref ....................... . 68¾- 74¾ 68 - 71½ 68 - 727A 64)4- 73¾ 64¼- e9½ 64¾- 71 65~- 69½ 68 - 72¾ 69)4- 71¼ 68 - 71¾ 68¼- 76 70 -7~ Ml88ourl Pacific .......... 99½-106¾ 98¼-103,:t, 93 -100¾ ~J4- 98¾ 85¼- 95¾ 89½- 98¾ 87¾- 94~ l}S¾-100,v 95)4-100½ 93 - 98¾ 91¼- 95½ 9~- 95¼ .... 188¼-188!J4' .... .... 189:}.t-189¾ .... .... ... - .. . .... - .. .... - .... 182 -182 ... .... .... .... Morris.& Essex ........... .... - ... .... Nnshv. Chatt. & St. L .. 147 -H9½ U2 -145 145,(-1!6~ 140 -142 133 - 44 140 -1'4~ 140 -140 140 -143 141 -143½ 136 -141 135 -146 140 -146 Nat'l ot Mexlco-Pret... 38 - 4~~ 37¾- 40¾ 38¾- 41 38¼- 46¼ 45 - 49¾ 48¼- 57 52¼- 68¾ 66¼- 5~ 86 - 39¾ 86 - 89¼ 87 - ll9_14 37 - 40 ~dpref ........ ........... 20~- 21¾ 20¼- 21~ 19%- 20¾ 20 - 21 20),:(- 21 19)4;- 19 19 - 19J4 20 - 22 21¼- 23 24 - 23½ 26),i- 29½ 29 - so N. Y. Cent. & Bud. Riv. 147¾-156¼ 145¼-1533-1, 141½-148¼ 132 -146½ 130¼-142% 180:lt-142~ 127¾-137¼ 137¼-146 137¼-146½ *12~-41¼ 126 -132¾ 128 -136~ Rlarhts ...... .............. 6¼- 7¾ .... - .... . ... - .... ... .... - ... .... . ... 6¾- 6½ 4'¼- 6¾ .... .... .... - ... · ••· .... . ... N. Y. Chic. &St. Louis. 68¼- 72½ 63 - 70 59 - 72 63¼- 73½ 63 - 70¾ 63 - 71¼ 61 - 68 66 - 69½ 65 - 68% 60 - 68 61¾- 65 60 ·"-6~ 119 -1:20~ ... ... .... ... 111 -lH 114 -114 1stpret .......... ........ . .... - .... . . .... 116 -120 - .... 2dpref............ ....... . 88 - 91¾ 82 - 84 81 - 87;14 85h- 89 80 - 87 85 - 91 83 - 90 87 - 90 85 - 89¼ 82½- 87lJ:( 85 - 86,i 85 - 92 . ... N. Y.Lack.&Wcst . ... . .... - ... - .. .... - .... - .... ·• • - .... .. - .... .... - .... . ... . .. . .... - .... 127¾-127¾ . - .. K. Y.N.Haven&Hartt. 197 -204¾ 199 -202!1:( 198 -202¼ 195~-200¼ 194¾-197:)4 191 -197 190 -196 194 -197 [90¼-19514 192 -194¾ 192 -195 189¼-193 N. Y. Ontario & Weet ... 51¾- 57)4 49 - 55¾ 48¼- 51¾ 45¼- 53¾ 43!!:(- 63 46¼- 51~ 45¼- 48¼ 46 - 51½ 47¼- 51¾ 44¾- 49¼ 44.¾- 48¾ 46),,(- 60!,( Norfolk & Weetern ..... . 85 - 93¼ 84 - 93½ 84¾- 88¾ 85¾- 91¾ $(~- 90¾ 8614- 90~ 85 - 90½ 90¾- 94¾ 92¾- 97 P2¾- 97~ 93 - 95½ 89¼- 95¾ Pref... . . ..... ... ........ llS½- 96 91¾- 92 90¼- 92~ 89¼- 91½ 90 - 911-8 87 - 91 90¾- 92 .... 90½- 91 90¼- 90¾ 90 - 90½ 90 - 90¼ .... lS orthern Cen trn.l. .. .. . .... - ... . .... - . .. ... - .... ... - . .. .. - ·•· · .... - .... . .. - .... .... .... 209,(-209¼ 212 -212 ·••· lS ort II ern Po.cl fie •...•... 109 -2U¾ 205¼-232½ 206¼-223~ 11}3¼-228 179)4;-211'.U 191 -214 190 -205¼ 203~-219¼ 207:kj-219 208¾-218 1209¼-228 179¾-224¼ Pacific Coaet Co .......... 103 -123 112 -120¾ 109¾-117¼ lU -187 123 -140 l26 -142 122 -135 127 -134 125 -132 128 -134¼ 127 -183 122¼-1~. .... - . ... 1st pref.................... 106 -106 .... - .... .... - .... .... - .... .... . - .... . ... - .... ... - .... . ... - .... ... - . ... . .... 2d pref. .... ............ 105½-122¾ 117 -117 ... ··• · 118 -134½ 122 -rn5 126 -135 l22 129 127 -130 .... - . ... 124¼-127 120 -120 Pennsylvn.nln. RR ....... 142 -147½ 137¾-144¼ 13~139¼ 135%-1'3¾ 131 -187¾ 125 -135~ L22¼-1~ 13~·146~ 139¼-145~ 139 -146~ 18~-145¾ l35Jli(-140~ Peoria & En.stern ....... 40 - 46½ 39 - 40 SB - 42¾ ss - 37¼: 33¼- 38 37 - 41 39 - 44 ~-H!JJI 4'2 - !!2 35 - 4,3 36 - 87~ 36 - 38 Pere Marquette-Pref .. ... .... . - ... 55 - 65 ... - .... .... - ... ... - .... .... - .... .... - .... - ... . Pitts. Cinu. Ch. & St.L 83¼- 87 78 - 88 78¾- 80 80 - 83 75 - 85½ 82 - 843t 80 - 80 79 - 86 84 - 86 82¼- 85½ 8, - 85½ 80 - Si¾ 106 -108¼ 107¼-107½ 105 -105 105 -105 100 -108½ 108 -108 Pref ····················· ... - .... 107¼-109 108 -108 108 -108 .... - .... ... Pitts. Ft.W. & Ch., 11:u . 182 -182 . - . 182 -182 176 -176 176 -176 .... - .... ... .... 174 -177½ 174 -174 173 -173~ 174 -17,i Railroad Securities, Ill. <..:ent. stk. tr. ctfe .. 96 - 98 96¼- 97 96 - 97¼ .... 95 - 96 ll2¾- 95!14 93 - 93 ... - .... ... - .... .. ... 92¼- 93¼ ... Ren.ding ...... ............. 134)4-164 134¾-144% 125 -187 120 -140 112 -142¾ 120¼-145¾ 116¼-132 129¾-144¾ 136¾-166:J,i 138 -155¾ 188!,:(-150~ 12) -152¼ 1st p1•et .. ................. 9:l½- 96 92 - 94½ 89½- 92 89¼- 92 91 - 92½ 92 - 98 92 - 93 89 - 91 90 - 91 90¼- 93 89 - 90½ 90 - 91 90 - 98¾ 90 - 98¼ 95 - 97 ~d pref ................... ll6¼-102 99)4-101 97¼- 98 96¼- 06½ 94 - 95 92 -100'.U 95¾-100 96¾- 98 90 - 90 Rensselaer & Saro.tog. 208~-208½ ..... - . ... .... - .... . .. - . .. .... - . ... .... - .... 201 -201 lll9xi-1993-fi - .... 206 -206 ... - . .. .... - .... Roel, leln.nd Co .......... 23¾- 26¼ 24¼- 28¼ 25¾- 28¾ 24¾- 28% 23¼- 26½ 2Sxi- 26% ~2¼- 25¾ 25¾- 29¾ 26~- 28¾ 26¾- 80¾ 27¾- 32~ 28'4- 82¾ Pret. .. ....... .. . ....... . 61¼- 65½ M - 6i~ 65¾- 68¾ 6~¼- 68½ 61½- 65 61 - 66½ 60 - 64¾ 62¼- 69,.( M¼- 661}.t M¼- 69¾ 64¾- 68¾ 63¾- 68½ .... .. .. - . .. 13! -136 .... - .... 130 -180 l31 -182 134¾-134¾ .... - .... .... ... . ... - . ... . ... .... 127½-127¼ Rome Wat. & Oardens . . .... Rutland, pret . .......... . - .... .... - .... .... - ... . ... - .... .... - . ... .... - .... ... - .... . ... - . ... ... - .... 65 - 55 .... - . 47 - 55 20 - 2,i 23 - 24 St. Jos. & Gr. bland .. 23 - 27 21 - 25 22 - 23 . ... 21 - 23 19 - 21 .... - .... 22½- 24 · ••· 62,4- 69¼ 66 - 69 66 - 66 63 - 66½ 60 - 6,i 1st pret....... .... .. 61 - 61 I 63 - 65½ 61 - 64 62"'- 64 - .. 60 - 63½1 .... 34 - 37½ 38 - 35 2d prct..................... 85 - 40 33 - 39 30 - 36 83~- 85 32½- 85 ... 3!! - 85 :u - 31 .... 35 - 35 St. L. & S .Fr •• 1st pret ... - .... 60 - 72½ 66 - 69!}.j 66 - 72¾ 70 - 70 66¾- 70 6i - d4 66 - 66 64:1:(- 65 67 - 70¾ 68¾- 71~ 68 - 72¼ 45 - 51¾ 45 - 48¾ 43 - 4'9¾ 41 - !!7 2d pret .................... 45¾- 49 46 - 50¼ 46¾- 49¾ 46¼- 50 42¼- 47 40¼- 45¾ 43 - 49¼ 43 - 46 .... C. & E. Ill. stk.tr.ctfs. 190 -190 .... .... .... - .... - .. . - .... . ... - .... .. .. - .... .... - ... . . .. - . ... ... - . . Pref.stock truet ctts. 129 -135 . -120 - .... .... .... 120 .... - .... .... . - ... ... ' ... New stock trust ctts. ... . - ....... - .. . · ••· .... - ....... - .... ... - .... .... - ... ... . ... ·•• · - .... 'i3 - 7,i½ . ... - . . .. 74¼- 7'1¼ St. Louis Sonthwest'n. 20¾- 27¾ 2i -2~ 22¾- 2,i), 21¾- 24½ 20½- 23¼ 20~- 23½ 20¾- 22½ 22¼- 25¾ 23¾- 26 23¼- 26½ 28 - 27¼ 2! - 26~ Pref .................... . 53 - 61½ 55 - 59:r;f 54¾- 67~ 49 - 57½ 48¾- 56~ 50 - 56¼ 49 - 53¾ 52¼- 61 57 - 63~ 57 - 63 67½- 62¼ 67¾- 6~ Southern vot. tr. ctfs. el amped extended.... . 35¾- 42¾ 87½- 42 \. 37¼- 41~ 86 - 41¾ 35 - 39 33· - 39~ 32½- 3~ 36¾- 39¾ 35¼· 387,ii 33 - 37¼ 31¾- 35½ 32 - 85)4 p.--,f. do do ····•····· 100 -103 99 -102¼ 99¾-102~ 98%-102½ 97:l,t-100 93¼- 94¼ 99¾- 99¼ 97½- 997-( 99 -100¾ 97 -100¾ 95 - 97 94 - 96 93 - 93 .... - .... .... - .... 94 - 94 . ... - ... . !U. & O. stock tr. ctfs. ... - ... 99½- 99~ 116 - 96~ 93½- ll6 - ·-·· 96 - 96 90 - gs Southern Pacific Co .... 65¾- 72¾ 64c¼- 69~ 64:}ji- 69¼ 627/4 -701( 61 - 66~ 64 - 69~ 63¾- 7-!¼ 73¾- 93¼ 90¼- 97½ 90 - 96;1{j 90¼· 96~ 90¼- 95¾ Pref . ................... .. . . ll 7-¼i-116'¼ 117 -118¾ 1171,(-118 117)4-118¾ 117 -119½ 119)4-120~ 116 -117¾ 1177-1.-118½ 117¾-118~ 117¾-119¾ ll~-119_½ 116¼-120}( Texas & Paclftc ... .... 82)!- 39¾ 33½- 37¼ 321}.{- ~4¾ 28¾- 81¾ 28 - 83),( 30¼- 35¼ 29½- 33¾ 82¼- S6lct 3414- 88~ 85¾- 40¼ 85¼- 38% 34½- 38~ Toledo St. 1,ouis & W. 35 - 40½ 86 - 88 35¾- 86x 34~- 36½ 30 - 83¾ 26 - 31¾ 25}:(- 29½ 28 - 36 31~- 35),.( 33!>.(- 38½ 33 - 35}4 33¼- 84:)6 Pref ······················ 56 - 59~ 51¾- 68~ 54 - 55~ 51¾- 55¾ 48 - 52~ 46 - 49½ 4.3 - !177~ 47¼- 55 51¼- 57 54 - 58½ 53 - 55½ 52 - 64¼ Union Pn.ciflc ............. . 148 -160½ 148¾-158¾ 149¼-15i¾ lei4),4-159¾ 138½-151¾ 141)4:-153 J.39~-152¾ 153 -191¾ 1S1¼-lll5¾ 180¼-191~ 179¼-190¾ 177¼-188¼ Pref . ······· ·········· ·· 97 - 99¾ 95¼- 98 95 - 96),\ 03 - 96 91½- ll6 IJ,i - 95 92"- 94¾ 94¾- 95 92!,»- 95 92¼- 93 92 - 93 92¼- 95 V ando.lin. ........... ...... . - ... . .... - .. . 82¾- 8! 84¼- 8,i~ 85 - 85 85 - 85 . ... - .... 85 86 85 - 85 . .. - .... ... - ... . .. Wn.bn.sb ..... ..... ......... . 20¼- 26:½ 22 - 25}-t 22 - 23.¾ 19 - 23~ 19 - 21~ 19 - 21¾ 18½- 20¼ 191};!- 21¼ 19¼- 20% 18¼- 20¾ 18¾- 20¾ 18 - 20~ PreL ........... ........... . 40¼- ~ 43¾- 5391, 48 - 52¼ 41,.(- 51 41 - 50½ 44¼- 60¾ 44 - 48 44¾- 48¾ 42¼· 46¼ 42½- 46¾ 41¾- 44}4 36¼- 43¾ Weetern Maryland . . . 35 - 83 38 -41~ 83 - 39 so - 35~ 82 - 42 38¾- «¾ 89 - 4ei¼ 36¼- Sf,J,g 34¾- 87 37 - 40 36½- 38½ .... Wheeltnir & Lake Erie 17¾- 20½ 19 - 21~ 18¼- 209'.I 16 - 20 16 - 18¼ 17)4- 19¼ 17 - 18% 17¼- 19¾ 18 - 18¾ 16¾- 18¾ 16;(- 17¾ 16 - 17 h1tpref... ............... 41¼- 47!}.t «½- 48h, 42¼- 45½ 37 - 45 86)..(- ~o 30 - 40¼ 37 - 4,2 39 - ~l½ 39 - 41 36½- 41 87~- Sil¾ 37¼- 38¼ 2d p1•ef..... . .............. 25¾- 28¾ 25¼- 21)½ 25¾- 26 22 - 27 22 - 25 23M- 25¾ 22¼- 25 23¼- 25¾ 22~- 24¾ 21¾- 24½ 211,.(- 23!,§ 21¾- 22¾ Wisconsin Central .... . 28 - 33 24 - 26½ 23 - 25),.( 24½- 27 23¼- 2.>¾ 24¼- 28 21~- 26~ 24½- 26 26¼- 29¾ 25%- 2,i!¾ 23¼- 29¼ 23 - 29 Pref. ....... .. ............. . 68 - 64 563,:{- 59 55 - 57½ 4¼- 58¾ 46¾- 52 46 - 63 44 - 47¾ 47½- 53½ 45¼- 61¾ 61 - 60 50¼- 53 48¼- 52"' ... - - ... .. - .... .. - .... .. - ... .... .. . - - - - - .... ... .... ... - .... - - -. - ... .. ... - .. - .... .. - ·•·· - .... - .... ... - .... .. - - - .... ..... - .... .. - .. .. - .. - .. - - - .... - .... - .... .... - ..... - - .... ... - .... ... - .... ... - .... .... - .... - .... .... .... ... - ... .... - - .... -. ... -. .... - .... - .... - ... ... .... - .... . .... ... ... ... .... ... ... - .. .... ... - - .... .... . .... - .. .... .... .... - .... .... . ... - - .. .. .... EXPRE~S. &daml!I ...................... 246 -249 &merlcan ..... ............. 222 -249¼ 234 -249 Ontted States ............. . 124 -138½ 121 -129 Wells, Far11:o & Co. .... 240 -2,iS 240 -245 .... .... COAL & MINING. Amalgamated Copper . . American Coal. ... ...... . Ann.condo. (Jopper ..... Colorado Fuel & Iron .. Pret ....................... Col. & H. Con.I & Iron .. R1'rh1s ..................... Conttolidatlon Voal... ... Bomfl1iltak,. it(lnlmr .. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 108¾-115½ 190 -190 230 -298 65!,ti- 83% 95 -112½ 17¼- 26¾ 248 2i0 115 233 -250 -235 -116 -240 250 -250 215 -235 LlO -121 242¼-260 243 215 109 255 -250 -230 -118 -285 !HO 2'20 115 275 -240 -230 -116 -286 240 2l2 120 275 - 251 -226 -12,i -280 107 -118,4 100 -1093-fi 100%-115% 98 -111¾ 95½-110~ 92¾-101:}.t . .... - ... . - . 268 -300 245½-276),4 242 -286 i 23¼-275¾ 228 -278 l24 -254 60 - 78~ 67 - 67~ H5¼-67¾ 40¼- 57~ 44)4- 61:kj ii!¾- 55¾ 102 -110 100 -101 96 -101!4 100 -100 80 - 85 85 - 95 17 - 21¾ 18¼- 23 19¾- 2~ 19 - 21 *18¼- 26 17¼- 20 .... .. .. .... .. .. .... .... .... ... 255 235 124 290 ... -800 295 -295 . ... - . 275 -285 -272 249¾-270 240 -248¼ ieiOJ,g-U5 -133 131½-136 125 -130¾ 115 -122 -801 290 -293 1:95 -305 290 -S\J2 !85 240 115 296 -300 -245 -117 -305 1~·111!-fi 108%-115½ 109¼-117½ lOo¾-114¾ 110~ -115¾ - . .. . 170 -170 - ... . 251 -285 27,i½-294½ 265 -286~ 264¼-282½ ~o -292¼ 5J~- 61½ 62 - 59½ 50~- 58¼ 49¼- 67¾ 51~- 58¼ 90 - 90 00 - 95 90 - 90 89 - 89 1!8¾- 118¾ 18¼- 21¾ 17½- Ill¾ 17%- 21¼ Ill¼ - 80¾ 25¼- 2Q:kj .... ... - .... . ... ... .... .... - ··• · .... - ... .... - .... ¼· ;a .... - .... .... - ... .... - .... .... - .... .... - .... .... - .... . .. - .... ... - .... .... - . . .... - .... .... - .... .... - .... .... - .... . ... - .... . ... - .... .... - .... 95 - 95 .... - ... .100 -100 95~- 95¼ 80¼- 82¼ 811,.(- 82 81¼- 83 83 - 831,4 88 - 88 82¼- 82st 8~- 83 88½- 87 90 - 901,4 95 -100 8~-100 Ex rights. * 80 - 82¾ 116 MISCELLANEOUS STOCKS. 1906-~ontinued. JANUARY FEBR'RY. MARCH. A.PRCL. MAY. JUNE. JULY. ---- ---- ---- ---- - - - ---- ---- STOCKS. AUGUST. SEPT'BER • OCTOBER. NOV'BER.l DEC'BEB. Low.High Low.High Low.Hiith Low.Hi,zb Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High - .... .. .. - ... - ... - . ... - .... .... 50 - 50 .... .... .... .... .... Lehiirh & Wilkes Coal .. .. - .... .... .... 50 - 50 60 - 60 . .... . .. . . Ontario Sliver Mlnln1r .. 2%- 4 2¾- 2½ •••. 8 3 3}(- 3 !.i! 3¼- 4½ 8¼· 4¼ 4 2¼- 8 2¼ l¼- 8 2¼- 2¼ 2 5¼; Plttsburir Coal of .N. J .. 14¾- 17¼ U¾- 16¾ 14¼- 17~ 14 - 17¾ 13~- 14~ 13~- 14¾ 13¼- 16-U 14 - 15¾ 14.¼- 14¼ 14 - 16% Hi¼- 11% 16¼- 18 65 - 61¾ 65 - 55 Pref...... ........... ..... . 56 - 62¾ 56 - 59 64 - 62 52'Jr 62% 50 - 52~ 63¾- 57 53¼- 6~ 53 - 62 57¼- 61 65~- 62 1¾- 2¾ 1%- 1% 1~- 2 2 - 2 .... - .... .... ... . - .... . - .... ... - .... 1!,:(- 1}4 l!,:(- 1¼ . .•• . Quicksilver ltilnlnir .... . 3 3 3 - 8 Pret .................... .... 8,4- 6 4 - 4 4 4 ... .... - . ... ... . ... . ... ·•• · 8 3 4 4 149 -165 lid -162¼ 139 -162 133¾-156 150 -158 140¾ 156 16(½-162¼ 156 -159§8 155 -162½ 163¼-*166 157¾-164 Tenne ■ see Coal & Iron 129 -ld5 .. 6¾- 8 6¾- 7~ ... . .... ... - .... .... - ... . ... - . .. . Rlirhts ................... . .... - . .. . .... - .... .... .. . i¾- 8½ 6¾- 8 Va. Iron Coal & Coke .. 50 - 56~ 45 - 65~ 43 - 48 40 - 48½ 38 - 44 40 - 45½ 3S¼- 41% 42 - 46¾ 43¼- 57½ 50¼- 59¾ 63§8- 78½ 74 - 93 VARIOUS. Allh•Chalmen . ......... 22 - 21¾ 20¼- 25~ 19§8- 22¼ 20 - 2i 19 - 23¾ 17'4;- 23¾ 16 - 18),t 17¼- 2~ 16¼- 19¾ 16xi- 18~ 16¼- 18¼ 16¼- 17!J.( 59 - 64¼ 55 - 59~ 5i - 59¼ 62 - 61 61¾- 67 501,6- 60½ 45 - 60 Pret. ..................... 46 - 49~ 40 - 48 42¾- 48½ 44 - 463,j 43¼- 45¾ Amer. Aarric. Chemical 24½- 84¼ 27¼- 33½ 27¾- 29!)4 23¾- 29¾ 21¼- 26~ 23¼- 28 20 - 25¾ 23%- 2d!J,t 25 - 29½ 25 - 27¾ 26 - 26 24 - 26 99 - 99¼ 99¼-100 94 - 94§8 90 - 93 Pret........................ 933,g-102 93 - 93 93 - 9i .... 93 - 94 . ... 92¾- 92¾ 91¼- 92¼ 90 - 90 26 - 3~ 26 - 28¾ 21 - 30½ 20¼-28¾ 2~¾- 2o½ 21 - 25½ 23 - 25¾ 21 - 23!>.( 21¼- 25¾ 221'- 25!,4 22 - 25~ Amel'. Beet Suirar....... 26 - 35 Pref ........................ 85 - 89½ 87 - 87 85 - 85 86 - 87~ 86 - 87¾ .... - . ... 87 - 87 84 - 84¼ .... - . .. 82Jr 82¼ 83 - '83 .... ... 35 - 42¾ 32!)(- 38 M;g- 4i Amer. Car & Foundry . 39½- 4'i~ 40¾- 46¾ 39¾- 45¾ 87¼- 4'S 37¾- 41¼ 89¼- 46¾ 4Z¼- 46~ 42 -4~ 40'4;- 46),t Pref....................... 9Sl¼-10S 100~-104 100~-102~ 100¼-103¼ 99§8-102¾ 100 -103 98¾-101 lOQ¾-101 100 -102 10()%-102~ 101 -102 100¾-1029' 29 - 34¾ 28 - 33¼ 30¼- 33¼ 31¼- 36~ 33¼- 37 31M- 36¾ 31 - 33 213 - 33 Amer. Cotton OU Co ... 37 - 44¼ 82¼- 39½ 31¾- 36¼ 29¼- 35 90¾- 93½ 9Q¼- 92 Pret ............ ........... 93 - 95 93 - 98¾ 92 - 93 92 - 93 ... 933,g- 93½ 92¼- 93¾ 94 - 94 96 - 95 90 - 91 ... .... .... 37 - 37 .. .. - .... .. . - .... Amer. Dist. Teleirraph .. .. . - ... ... - . . .... .. . .... - .... ... - . ... . 9!)(- 11~ 9 - 10 9 - 10¼ 8¼- 10¼ r~- ~ 8¾- 10¾ 8 - 8½ 8¾- 9% 8 Amer. Grass Twine. 8¾ 8¼- 1(~ 8¼- 9¾ 8),.(- 9 8),.(- 9~ 7 Amer. Hide & Leathe1 8¾- 10 6¾- 7¼ 6 - 7 8¼ 6¾- 8 6 7'A 6¾- 7¼ 6 - 6¼ 6%- 6¼ 5½- 6½ 6¼- 7¾ SO¾- 86% 31 - 85¾ 28 - Sil½ 27 - 33 Pret ....................... 36½- 43 36¾- 40 27¼- 31¾ 2!:S¼- 31~ 25 - 30½ 25 - 28½ 24 - 29 28¾- 82¼ Amer. lee Securities.... 35¼- 4d¼ 43¼- 47¼ 45¾- 56½ 66 - 63½ 57 - 65¼ 59¾- 64¼ 64¼- 66½ 65¾- 80 79½- 94J-11 88 - 9Zi, 88 - 92;( 74¾- 93¾ 20 American Linseed ...... - 29¼ 22 - 26¼ 20¾- 22,4 18¾- 21¼ 17¼- 20¼ 18 - 24 19¾- 20 18 - l \JJ.! 17'-t- 19 18¼- 2~-¾ 19¾- 22 16¾- 11% Pref........... . ........... . 41½- 63¼ 46¼- 48 46 - 47 39 - 44 38%- U 39 - 40 38 - 39 89¼- 45½ 40 - 43½ il¼- 43¾ 39¾- 41 35 - 38¼ American Locomotive 70¾- 78½ 68¾- 'ii¾ 65½- 71~ 59 - 7114 53¾- 70¾ 65¾- 73)4 62¾- 72➔-, 63 - 72¾ 70½- 77 71~- 78 71¾- 76½ 70¾- 76¾ Pret- ...................... 116½-120¼ l16 -117½ Ll5¼-116h lll¼-1153-,i 110½-llb 115 -115 114 -114~ U2¾-113¾ 111 -114 111 -112~ 11~112!,4 108¼-lllM 5 - 6),,i 5 .... 5 5½ 4¾- 4¾ . ... .. 3\1:(- 4 4¾- 4½ 4¾- 5 4½- 5 American Maltlnir...... .... . 6¼ ... ... .... .... - .... .... - ... Pret .... . ...... ............ 25 - 29 26¾- 27½ 26¾- 26h 28¾- 29~ .... - .... 28½- 28½ 26½- 26¼ ... . ... - ... . 5 5 4 4 5¼5 4 - 5¾ 4%- 6 4¼Trust Co. ctfs ..... .. . - 6½ 4 6¼ 414- 5¼ 4¼- 4½ 4 4 4!Ui 4 - 4 4 Pref. Tru&t Co. ctts ... 25 - 21:1 26 - 28 :l6]4- 27 26~- 29¾ 26},(- 28¾ 26¼- 28½ 26 - 27,< 26¾- 27½ 27 - 29 211¼- 28 25¾- 2~~ 26 - 26~ 39),(- 48 A.mer Pneumat. Serv ... ... - ... - .... . 39 - 54~ 3-1¼- 45 31%- 85~, 281}.{- 32 25 - 29½ 27 - 29~ 28 - 30)4 .... . .. .. - ... 60 - 70 . .. . 79 - 8).t 78 - 81 76 - 81 . Pref. - ... 61 - 62 62¼- 62~. .. .... .... Am. Smelt. Sec., pt., B ,00!>1j-101;¾ 99¾-101!14 LOO -100% 1l9¾-10) 100¼-100¾ 99 - 99]:1 96¼- 98J,, 96 - 98 96 - 96% 94¾- 97½ 94 - 96 92¾- 93 L61¼-174 l53¼-169 15~-162~ L44¾-163~ 138½-;l.57% 140¾-159¾ L41 -153¼ L51 -165¾ 150 -1587'( 152¾-Hll¾ l 51¼-157¾ 147 -156¾ Am. Smelt'ir & Refln'a .. Pret ....................... 125],(-130 t22 -128~ 12~-124~ 115 -123~ 115¼-122 ll4 -120 tt4]4-ll~ 116¾-119 113¾-117¾ 116%-120 115},(-119 112 -117 .. . llO -210 205 -205 . .. - . .. ]00 -210 210 -210 220 -220 . ... .. . . . . - . ... American Snuff........... l20 -220 219¾-219:Ji .... t07 -107 ,06 -106 L02%-10~ 105 -105 ... - ... .... ... 105¼-105¼ 100},(-10! L01 -101 100 -101 Pref......................... 107 -107 .... A.mer. Steel Foundrlei, 13~- 15¼ ll¼-14 11 - 12:}; 10 - 12¾ 10 - 12 10 - 13¾ 10 - 11~ 10 - 12 10¾- 11½ 9¾- 10~ 9M- 11 9%- 11~ Pref ....................... 49½- 53~ 45¼- 51 42¼- 48 42%- 47¾ 40 - 48 41~- 50~ 40¾- 45 42¼- 47 42¾- 46¼ 43½- 44!lr, 43¾· 47 44¼- 48¼ A.mer. Sucar Ret. Co ... U4¾-157 t39 -148¾ 186 -141:1,! ~30~-142~ 127¾-138% 128],(-187➔.i 127¼-138½ 18i'U-14'½ 134- -138¼ 132 -137~ 131:1(-130¾ 13()¾-137¾ Pret ....................... ,3:,%-140 L39 -139:):! LS9 -140 182).(-181x l3i -137 133 -13tS t33 -136 136 -138 130 -135 132 -132,¼ 130¼-131 l28¼-130 . .. 91 - 91 88 - 90 86 - 90 89¼- 90¾ .. - ... Amer. Tel. & Cable Co. 90 - 02 90 - 93 92 - 93¼ .... - ··• · 93 - 93 91 - 91 ... 135 -139~ 136¾-1891 131} -138~ 136 -136 Amer. Teleph. & Teleg. l88¼-144~ L38 -142~ 137¾-139 L35 -139~ 135¼-1377'( l3d3,g-136½ .30 -132¾ ... 99¾-1019,t 99 -101¼ 98½-lOOx 97 - 91)!!4 f16 -100}( A.m. Tobacco (new) pt. 103¾-109 ,03¼-106~ 103 -106 L00¼-105½ 100¼-104 09 -104½ 96 -101 American Woolen Co .. . 40¾- 48 42¾- 46½ 41 - 44 35 - 4!l.!1, 33'.l:(- 39¼ 32 - 41¾ 32 - 37\¾ 35¾- 88lh 35¾- 38!1,j 34¼- 37~ 23 - 86~ 31¼- 84¾ Pret ........................ 103 -110:k, , 073,rllO¼ 106 -109¼ 105 -lOd lOS¼-107¼ 105 -1o;x 101 -104~ 103 -104.94 L<,3 -105 102¾-103}1, l01¼-103lJ:j blOll,(-03¾ .... ... - .... .... .... . - . .. .... ... . ... . Rlirht ■ ................... - . . ... - ... . ··•· - ... . · ·•· - .... Sc.- 250. - ... ... - . ... 109 -109 107 -107 107 -107 AHoclat. Merch., l st pl 106%-108¼ 108 -109 109~-112¼ 110 -112¼ 110 -112 112¾-112¼ 109¼-109~ .... ... . - .... 25 - 25¾ 22 - 25 211}(- 26~ 20 - 25 17¼- 20 18%- 19½ 18 - 21 ... .... Bethlehem Steel Corp ·•• · .... ... 62 - 67 .... ... .. . .... ·• •· .... 88¼- 88½ fs6 - 86 82~- 82¾ 65 - 84 63 - 7411 ... .... Pref....... .. ...... Brooklyn Rap. Trans 85}:(- 9'1¼ 78¼- 88½ 78¾- 88¼ 7~- 89¾ 72 - 84¼ 73¾- 85½ 71 - 78% 74!,s- 81 75 - 82¼ 76%- 8~ 751r s1~ 77¼- 83 Brooklyn Union Gas ... 165 -178 155 -170 128 -153 119 -130 120 -124 122 -180 l21 -126 115 -130 122 -127 120 -125 105¼-120 107 -114 Brnns. Dock & C.lmpt. 17¾- 20½ 16¼- 19 14¾- 19¼ 17%- 21¾ 17 - 19),( 15¾- 18½ 13)4- 15 16 - 17 15¼- 17 15¼- 16!-\ 15%- 16U 13'4;- 15¾ 65 - 65 40 - 66 60 - 70 53¼- 54x Q2¼- 52,j 49 - 60 51 - 51 57 - 57 55 - 55 Butterick Co .......... ... . 65 - 59¼ 64 - 67¾ 51 - 56 Central Leather ........ . 4-4~- 49¾ 41¾- 471}~ 41:1:(- 46!,.( 40¾- 46¾ 38¼- 43¼ $5¾-43½ St½- 40½ 38 - 41~ 38 - 40¾ 3! - 39 35¾-88¾ 33¾- 37;( 104 -107 102 -103¼ 98¾-102¾ 101 100¼-105 -105¼ H,3¼-107¼ -103,s; 100¼-105½ 102¾-103!1:1 !04¾-107¼ 101 100 -103½ 101¼-103¼ Pref ........... ........... ... . .... - . .. . .. .... .... .... - . .... - . ... Cent. & So. Am. Tel'a'b 137 -137 135¼-135~ 134 -184 135½-135¼ 140 -142 147¾•147½ ... 5}4 4}:(- 5 6 ¼~- 5¾ 4¾- 6 7¼ 3%- 6¼ 4 37~- 4¾ 4)4- 5¾ 4 Chic. Union·Traction ... 10 - 12;14 11 - 13~ 5 - 13¾ 5 Pref...... ................. . 39 - 42 40 - 46% 16½- 47¾ 16!,s- 21,{i 12 - 18¾ 12 - 16 11¾- 13½ 13~- 18 16¾- 20!,4 13¾- 18~ 14 - 18 16~- 20¼ Consolidated Gas ....... 168½-181¼ 156 -181 142~-15i% 130§8-145 13~-141 137 -147¼ 132¾-141 135 -1421}.t 135½-141~ 137¾-143½ 137 -140¾ 137,s-141 . .... . - .... .... - .... . ... - ... . 18¾- 13~ .... - .... .... - .... 16¾- 1~¾ 17¾- 19¾ - . .. . ... - . .. Col'n Products ........ . .. - .... 52 - 62 ... . - .... .... - .... ... - . ... .... . ... .... Pret .. . . .. ....... . .. : ...... 56¾- 61¾ 56¾- 59½ .. .. - .... . .. .... .... .... 18 - 18¾ 18)4- 19¼ 17§8- 19)4 17 - 18 - . - .... Certfs. of deposit ... . ... ... .... .... . ... . ... - . .. .... . ... - . ... . ... - . .. Pref. ctf"8, of" deposit. ... - ... 57 - 68¼ 63:)4- 56},( 55 - 66½ .... - . ... ··•· ... 2t¾- 26¾ 22¾- 28 21¼- 24 19¼- 23~ 1814- 20'¼ 19 - 20~ 19 - 21¼ 19~.!- 203,j. 19~- 23}11 20 - 22% Corn Prod. K.eUnln1: ... ... - ·• •· ... ... .... - ... . 79¼- 84 7i),(- 85¾ 74,s- 81¼ 77¼- 88¼ 7/S - 79 76 - 78½ 75¾· 78 74;14- 76½ 74!1:{- 82~ 79¼- 82¾ Pref....................... .... Detroit United Ry .. . ... 93~-lOO¾ 98¼-102 97)4-100½ 90~-100),{, 91 - 96¼ 93 - 95¾ 90¼- 93¼ 98 - 95¾ 94 - 94½ 90 - 93¼ 84 - 90 79¼- 84~ .... 1 - 1 1 1 - .... .... .. . . ... .... .... - .... . - •• ·· Diamond Mo.tch rights. .... - ·•• · .... - .... .. . - ... Dlatiller& Sec't's Corp .. 51 - 6,1¾ 52¼- 59¾ 63¼- 62~ 52 - 61¾ 51¾- e5¾ 66)4- 63¾ 54¼- 60¼ 59 - 63-U 60¾- 74¾ 67¾- 72¼ 68¾- 72~ 683'- 72~ 65 73 60 - .. .... ... .... 65 65 .... . - .... ... . - 65 - 73 - 62½ Dlstlll'1r ot Amer., pret. .... - ...... - .... .... ... - ... .... .... .... .... - .. . ... Eastman Kodak ......... . 162 -166 .... - .... 177 -177 .... - ... . .... - . ... 275 -275 ... .... .... ... - .. ... .... - .... ... - .... ··•· .... .... .... .... - . ... Elec. Storaae Bo.ttery . . 81¾- 87¼ 84 - 84 .... - . .. . .... Federo.l Min. & Smelt 188 -109 180 -190 171 -185 159 -182 155 -169¾ 143 -165 150 -165¼ 170 -175 155 -165 161¼-174 174 -179 163 -175 Pret ..... ... ......... .... ... 104 -112¼ 104 -109¾ 100¼·105~ 94 -106½ 92¾-100¼ 92 - 99¾ 91 - 96½ 95¾- 97~ 92 - 95¼ 92¾- 9~¾ 95½- 99¼ 93¼- 97~ . .. - ... . 75 - 75¾ 75 - 76 74½- 78 75 - 77 74 - 76 79 - 79 ... - ... General Chemical ....... 77 - 82 103¼-10! 103 -10! 103 -104% 103 -104.½ 103¾ lOi½ 105 -105 108 -103 102 -102 103¾-103¾ Pref..... ....... ........... 1051,(-106 l~~ =1~~~ 10\=105¼ - .... .... - ... . .... . .... - .... .... - ·••· ... - ... .. - . ... Risrhts .................. .. ¼- ¼ .... Genel'al Electric..... ... 172 -181¼ 167 -l7i¾ 165~-172,!..t 162¾-174% 161¼-169 160%-173¼ 160~-167¾ 166¾-171¼ 16i½-169 l65!,4-184 171½-181 156 -178¾ . ... ... - .... .... - . ... .... - . ... 12 - 12~ 11¼- 13¼ . 9¾- 10¼ .. .. - .. .. .... .... Rlirhts . ...... ...... .... ... ... . - .... ... . . . . .... - .... .... - . ... .... - ·•·· 110 -110 .. - . ... ... - . ... .... - ··• .... .... Gold & Stock Teleir' ph. .... - .... .... 46 - 47 43 - 45 45 43 - 53 41 - 47 46 - 49 35 35 33 48 46¾51 46 89 49½ 48% 40 Havo.na Electric......... 83¼- 35½ 90 - 90 88 - 89 86¾- 87 80 - 86 84~- 97!}.( 90¾· 91 81 - 88 88¼- 89¼ b7 - 93 77!4- 84J.9 80 - 83)4 81 - 83 Pret ........ .. .... - .... - .... , ... - .... .... - .... . - ... .... - . ... . ... - . ... ... .... 116¾-117 H.B. Clo.Oln Co ......... - . ... .. . 41 - 55 64 - 56 66¼- 56~ .... .... .... .... .... .... .... .... . lnaersoll-Rand ...... . ... .... 93¼- 95¼ 95 - 90 94¼- 96 - .... - .... .... ... . ... .... .... ... Pref....................... . ... 41 34 841,631"1¾ 35~- 39~ 35¾- 38~ 35§8- 39½ 34],(- 38 .... .... lnterb.-M.et. vot. t. ctfs. - .... 50 - 61~4 50 - 56¾ 33¾- 61¼ - .... 85 - 86½ 80¾- 87¾ 73½· 85½ . 70¾- 78],t 75¾· 81 75½- 79¾ 75~- 78}ci 75~- 79,¼ 72 - 77 P.-et ... .................... .... .... .... International Paper.... 22¾- 26¼ 21 - 24¼ 21 - 23½ 18)4- 23¼ 18 - 20~ 17¼- 21 1, - 1~¾ 18½- 20¼ 16½- 19 17.lc1'- 19 17½- 19 17½- 18~ 82½- 86¾ 82:)i- 86½ 82¾- 84¼ 82%- 87 80¼- 88J:j 81½i- 82¾ 81¼- 82)i 80 - 82¾ 82¼- 86¼ 82¾- 86 83%- 83 84¾- 90 Pret .................... .. 51 - 52 50 - 53 49 - 5U¼ 60¼- 57 52 - 50 48 - 48 60 - 74 50 - 62 48 - 57 68 - 78 60 - 85 Internatlono.l Power ... 58 - 95 44 - 62¼ 45 - 60 44, - 65¼ 37 - 48 43 - 50:k; 40}1)- 4 3¼ 86 - 41% 60 - 60 36 - 56 32¼- 37¼ 30 - 40 Internat. Steam Pump . 28 - 37 81 70¾81~ 83 82 83 81),g80 86¼ 92 86½ 8.'>~ 86 83 8a 85 - 86¼ 83 - 87 - 88➔.( Pref ....................... . 79 - 85 ➔.i 82 - 85 61¾- 66½ 59 - 66¼ 61 - 67J4 619'- 65¼ 61¼- 62¾ 5'1¼- 60½ 59¼- 61¼ 60¼ · 8'1¾ 72¼- 88 73 -7~ 66 -7~ Knick. Ice (Chicairo) .... 61~- 68 .... 'i5 - 76½ 76¾- 78 78¼- f,5~ 80 - 85 79 - 80 66 - 75 .... 77¾-- 79½ 78¼- 78¼ 79½- 80 .... Pret ........... .. .......... . 78¼- 80 . .... .... . 95 - 95 .... - .... .... - .... .... ·••· .... - .... Laclede Gas, St. Louts .... - .... lOcl¼-104½ .... ... .... . - .... .... - .... .... .. .... .... ... .... - .. .... .. . . . Pref"................ ... . .... 105 -105 5¾- 5¾ 6%- 5¾ . 5 - 5¼ 6¾- 53' Manhattan Ben.ch Co .. 12 - 15~ 10 - 10 .... - . ... 10 - 10¼ 5 - 8 .. .. .... . . . . .... .... 67 ... - 72~ 71¼- 71¼ Metropol'n Securities.. 69 - 75¼ 65 - 72~ ·•·· , ... .... . .... 70}4.... 74 .... 70¼75% 70¼. .. 7f>% .... . ... .... Cel't. of deposit ......... Metropolitan Street ... . 120 -127 111 -122).6 111)4-116¾ 111 -117¾ 105~-116 105 -113¾ 108 -107¼ 106 -110 105 -107 104 -107 107 -107 106 - 1 ~ .... .... ... . ... - .. . . ... - . .. .... Cert. of deposit ...... ... .. - .... . ... - .... 112 -116 109l}.(-118l}.( 104*116!4 110 -110 o Ex dividend ano. ex rights. *Ex nglltd - - - .... - - - - .. - . - ... ... - - . - - - .... - - ... .... - .... - -. - ... - .. - - ... - - .... - - - - .. - ... ... ... ........................ - .... - . - ... - ... - . ... . ... - ... - - .. .. ... - - -. - .. ... - ... - ······· .... - ... ... - . ... .... - -. - - ... - ... .. - - - -. .. - - ........... https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis .... .... -.... .... - ... - .... .... - - .... - .... - ... ... - .... .... .... ... - .... ... - - .... ... ... - . - ... - - .. .... .... ... ....... - - - .... - - - .... ... .... - .... - ... - .... .... - ... - ... .... . ... ... ... ... ... .... .... .... .... . ... .... - .... ... - . - .... - - ... - .. - - .... - .... .... - .... .. - .... ... - .... .... - .... .... - .... .... - ... ... - - ... - -- "'"I'" -"" .. - .... - - .... .... ... ... - .... .... .... .. ... - .. - - .... - .... - .... .... .... - .... .. - .... - .... .. . ... - ... .... - . - ... .... .... ...... - ... ... - .... ... - ... - .... - .... ... - .... ... - . .... - ... .... - .... .... - .... ..... - .... - .... - .... RAILROAD AND MISCELLANEOUS STOCKS. 117 1906-Conclnded. STOCKS. Mtcb.State T.voc;.t.ctfs. Pref ....................... . National Biscuit... . .... . Pref............... .... .. Nat. Enamel. & Stamp. Pref......................... N n.tlonal Lead Co ....... . Pref........................ Riu;ht ■ .... .••••••••..•.... New Orleans Ry. & Lt. Pref ........................ New York Air Brake .. 'N. Y.Dock ................. Pref..................... . N. Y. & N.J. Telepb .... Right■ ...•••.... .... .. .. No. Am. Co., new stock Pacific Mo.ii S. S ...... JANUARY FEBR'RY. MARCH. APRIL. MAY. JUNE. JULY. - - - - - - - - - - - ---- - - - - - - - Low.High Low.High Low.High Low.High Low.High Low.High Low.High - - - - - - ---- ---- - - - - - - ---· .... - ... .... - .... ··•· - .... .... - .... .... - .... ... - .... 50' - 50 .... - ... .... - .... .... - .... . ... - .... .... - .... ... - .... 92 - 92 67 - 71 113¼-117 16 - 18½ 87 - 88 so - 95% 102%-106¼ ¼- ½ 66¾- 71¼ 117 -118¾ 15y.(- 17 83 - 88 70),ji- 90¼ 10.2¾-106¼' .••• - •••I ....... ----- ... .... .... - ... .... .... .... .... -- . .... - .. .... - - .... .... - .... .... - .... .... - .... .... - . .. .... - .... .... - .... .... - ... . ... - · -·· ... - .... 32¼- 34 .... - .... 33 - 85½ 36)4- 361' .... - .... . .. - ... ... - .... ... - .... 81 - 81½ . .. - .... 82¾- 83 80!,(- 80¼ 81 - 81 . ... - . .. ... -153 - 47¼ - 82¾ -154 - .... 135 -147~ 139 -HS¾ 133 -lU¾ 40 - 40 42,ii- 42¼ 40 - 42 80.!,t;-80½ 80 - 80 80 - 80 140 -147½ 125 -130 ... 2¼- 2½ 2¼- 2¾ 93 - 98 91¾- 98¾ 91½- 95¾ 34 - 40¼ 28¾- 8 9¾ 30 - 3e¼ 89 - 93% 88 - 93 89¼- 95 43 - 51¾ 44 - 54 43 - 50¾ 95 - 977~ 96 - 99 95 -:- 99¾ 219}.(-231¼ 220 -231 218 -230 44 - 63½ 477/4- 57 46¼- 58 99½-102½ 100¼-103!4 97¾-100 22¼- 29¾ 25~- 31¼ 2! - 29½ 91 -108¾ 94 -105¾ 92¾- 99¾ .... - .... 140 -14'n,i 14.0 39 - 39 40 84 126 -180 125 -149¾ 140 -149 - 42 45 - 45 - 85¾ - . -12B½ 124 -129 140¼-146½ ]35 43 - 43 4:& 85 - 85 83 125 -126½ 128 .... .... .. .. ... . .. - ... ... - .... .... - .. .... - . ... -- -14 - 4 - B -12 4¾- 93 - 97),4 91 - 95 88 - 93¾ 87½- 90 87¾- 9 35 - 41¼ 36½- 40:l{i Si½- 38½ 35¼- 411}.i 87 - 4 90 - 93 86¼- 91 8S - 91½ 88 - 94.31, 92 - 9 51¾- 6 50¼- 55¾ 52½- 55~ 53¼- 59~ 50:}.(- 65 97 - 99~ 97¼- 99¼ 97½- 9!1~ 97¼-100 98 - 9 235½-250 247 -2tl5 255 -264½ e189¾-270 l60 -1 621,(- 55¼ 53¼- 58¾ 50¾- 56~ 50¾- 53~ 51!,6- 5 98½-100¼ 100 -10! 100 -100¼ 100 -100½ 98½-10 2'1¼- 31¾ 29¼- 40¼ 3¼¾- SP¼ 341¼- 3~¾ 37 - 4 98¼-101¾ 97 -103¼ 96 - 99 97¼-101½ 96 -10 . . ... . . . - . ... 100 -100 . - . . . 106½-108½ . . . . . 93 - 95 73¾- 80 71 - 76 71 - 77½ 73¼- 7 9¾ 80¾- 93¾ 75 - 85 69½- 80¾ 69 - 81 72 - 86 68½- 75¾ 75 - 81 112 -112 106 -106 104)4-104¾ 105 -108 105 -105 - ·• · • 106¼-106½ 106 -107 . 110 -113 78 -80¾ 75¼- 79¼ 70 - 78¾ 60 - 77½ 7ff - 86½ 73½- 79 80 - 84 80 - 83½ 82 - 88 84 - 87¾ 83 - 8 7 130½-137 132 -135 125 -134 126¾-130 125¼-130 125 -126 123 -127½ 124¾-127 123¼-127¾ 121 -12!½ 121¼-124¼ 32¼- 33½ 32¾- 33 34¾- 35¼ 34 - 84% 29¼- 35 30¼- 31 31¾- 32h! 31¼- 32¼ 31¼- 82½ 29 - 30¼ 253,t- 2 9 116 -119¼ lltJ -119¼ 112 -121¼ 109¼-119 109 -116¾ 108¾-114½ 112½-116¾ 113½-116¾ 111 -114 109¾-111¼ 102 -1 09¼ ... . 150 -150 . .. . !J.(- 1¾ .... . .. . ·••· ¾- 1 - . 12 - 13:1,f 10¾- 12 9 9¾ 8 9¾ 7½- 8½ 8½- 9M 5½- 8½ 6 8½- 12½ 8 6¾6½ 6 80 - 82 71 - 78 70 - 70½ 70¼- 72 5J - 6 70¼- 71¼ 54 - 70½ 52 - 5! 52¼- 61 77¼- 81 67½- 72 . - . . - . 90~- 9 - . . - . .. . - . . 6) - 67¼ 54¼- 62 94~- 98 60 - 66 95 - 97¾ 50 - 96 58 - 68¾ 63 - 68¼ 63 - 68 62¼- 65 59¼- 6 66 - 75~ 68¾- 77¼ 68 - 71¼ 69¼- 76 73 - 75¼ 70¾- 74 88¼- 93½ 89¾- 92:1( 55 - 92 70¼- 72½ 67 - 7 . 86 - 87J,4 85¼- 81 84~- Six. 85¼- 85½ .... - .... . . .... - . .. . .... - ·•• · - .. !7 - 52¾ 44!J.(- 49¾ 46!J.(- 49½ 45½- 48½ 46¾- 50¼ 45¼- 48¼ 44¾- 4 45¼- 51 45 - 50 45¼- 62¾ 43¼- 53 92 - 93½ 91¼- 92½ 92:)4- 94¾ 91 - 94¾ 91 - 95¾ 90 - 9i½ 90½- 93¼ 91 - 01½ 89 - 02½ 87½- 91 83)4- 8 12½- 12½ 12¼- 12½ 11¾- 11¾ 11¼- 11¼ 13 - 13 ... 10 - 10 .. 115 -117 116 -117 115 -115 110 -110 103M-103¾ 118¼-115)4 107½-113 112 -112 113 -113 105 -10 84½- 91 84 - 93¼ 82 - 90 86 - 92 75 - 70¾ 79¾- 86 St - 86 83 - 89)}.( 85 75¾- 81¾ 75 - 80 25 - 29 24 - 2 25 - 35!,d 26 - 39 21 - 28 33J.4-. 40¾ Si¼- 38½ 35½- 38¼ 34 - 37 27¾- 36½ 28 - 31 60¼- 68 72 - 84 7 70 - 71¼ 60 62¼- 72½ 64¾- 80 60 - 66 73 - 78 72½- 78 73¼- 75¼ 70 - 75 49 - 5!llt 48¾- 57 49 - 55¾ 48½- 51¾ 44¼- 51½ 38 - 45¼ 44 - 48¾ 45,¼- 58 47½- 69½ 48¾- 53½ 40¼- 53 108 -111½ 108 -114¾ 106¼-115 105½-111½ 107 -109½ 104¾-108½ 107 -109~ 106½-111¾ 105 -111 105!J.(-10,¾ 105),\S-l 77,t- 78 76 - ~o 79¼- 82½ 80 - 84¼ 76¾- 81½ 76 - 81% 77¼- 80¼ 77!4- 79¾ 79 - 80¼ 79½- 81 75 - 'i8 40¾- 46¼ 3i¾- 4.l'Jj 89 - 44¼ 36lj,(- 42 33¾- 42 39¼- 47:1:{ 43¾- 47!}.j 45l)s- 50¼ 46¼- 49¼ 4tl¾- 49 32¾- 40 l(l: J.9-113 104¼-107¼ 104¾-109½ 102 -107 98¼-107¼ 98¼-107¼ 105 -109¾ 105 -108 105)4-l0~h 10! -l0i¾ l0~¾-105 47 - 51~ 47½- 55 as - 52 36 - !l3¾ 85 - 42¼ 31 - 37¼ 36½- ,U 37%- 42 36½- 41½ 36 - 42½ 35~- 41 113½-115 111 -117 108¼-113¾ 105½-111 106 -111 104' -107¼ 107!1i-10&½ 109½-lll 109 -110 110 -111 106¼-110 10½- 13½, 11 - 12¼ 11 - 13½ 10½- 12½ 9¾- 10½ .... - . ... 8¾- 10)4 9¾· 12 9 - 10¾ 8 - 9 91}4- 12 61¾- 1'4¼ 60¾- 65½ 62\,.{- 67 61],(- 66¾ 61¾- 64!>4 69 - 60¼ 60 - 60% 60½- 66¾ 6:3½- 70¾ 59¾- 66¾ 6J - 63 93 - 93:kl 91 - 94!,( 91½- 93¼ 91 - 92""f8 91¾- 93½ 91 - 9i!-(i 91',4- ll2¾ 86 - 91¾ 86 - 87 85 - 8S½ 83¾- 87 1(31 -lOIJ½ 160 -162 160 -164 153 -15d 154 -161 150¼-154 as -155 152 -156 152 -161½ 154 -160:l{i 150 -157 185 -185 180 -180 179 -170 .. ... . - .. . 162 -162 . .... . - . ... . ¼- l}~ .. - .... .. - . . ... - . - ... - .... .. .. - ... .... - . ... e K.x:-stoca: d1v1dend. 98 -103¾ 43½- 50 95¼-101¼ 53 - 63¼ 97 -105 243 -245 54¾- 61½ 104 -107 29 - 36¾ 102 -108¼ Peoples' G.-L.& C., Cb. Pressed Steel Car ..... .. Pref... . ... ................ Pullman Co. (The) ...... Railway Steel-Sprln&'.. Pref .......... ......... Repub. Iron & Steel. .. . Pref........................ . Rubber Goods Mfa- ... . ... Pref................... .. ... Seare-Ro"buck. pref.. ... - .... Sloss-Sheffield St' l & I. 85~- 97½ Pref ....................... ... - . .. Texas Pac. Land Trust 64~- 83¼ Third A venue .... ... . .... 135 -139½ oledo Rys. & Lia-ht.... 32~- 38 win City Rap. Tran ... 117 -122¼ P-ref ............ ............ - ... ... Rta-hts.... ................ ... - .... Union Bau; & Paper ... 13¼- 16~ Pref .... .. . ................ 80~- 84 .... Unit . Cigar Mtrs., pref ·• ·· lJntted Rys. Inv.of S.F. 88¼- 98 Pref....... ················ 87 - 93½ 'Un. Rys. ot St. L .• pref. 85~- 87½ U. S. Cast Ir. Pipe & If 46¼- 63 Pref•...................... 9i - 96~ U. s. Leather ............ 13¼- 14¼ Pref............. ·-······· .... - .. U. ~. Realty & Impt .. .. 88 - 94½ U. ~. Reduc. & Refin'~. 30 - 81 Pref... .................... 68 - 71 51 - 58x U.S. Rubber Co ........ 1st p1.•et .................. 109¼-115 ~d pref...... .. ......... 81 - 87½ U. S. Steel Corporation 42 - 4.6¼ Pret.. .... . ................. 106 -113¼ \' a.-Cn.r. Chemical. ..... 44 - 58 Pref......... .. ............ 114 -117!{ 9 - 15),,j Vulcan Detinni»II••·· .. . 50 - 6! Pref .. .. ........ Western Union Tel'i,;h .. 93 - 9J¾ W estinah. )~l.Mfa.as"'' l 166 -176 1st pref................... ... - .. . Jthrh•s . . .. ····· ·· ···· · ... . - ... - Low.High Low.High Low.High Low.High Low.High 50 - 50 . . 91½- 93 .. . 91¼- 92 . 66 - 69 63~- 68¼ 62~- 68¾ 66¼- 69 67 - 69¼ 67½- 77!,ii 72½- 76~ 75¾- 7 63 - 67½ 62 - 65 116¼-117¾ 116 -118 115¼-117¾ 115½-116 116¼-118 117!J.(-117¾ 116 -116 118¼-118½ 117¼-117½ l16½-11 13½- 17¾ 16 - 18 14 - 16 13¼- 15¼ 12 - 14 14½- 17¾ 14¼- 15 13¼- 14¾ 13½- 16¾ 14 - · 1 83 - 83 86¼- 87½ 86 - 87 84 - 85 84 - 85 82 - 82½ 85 - 85 83 -8 85 - 88½ 87 - 87 70 66 78y11 78 82½ 74 - 85¼ 71¼- 80½ 71¼- 86 - 82½ 76 - 60¾ 73 - 80¾ 74 - 77¼ 67¼- 7 102½-104¼ 102:¼i-104¼ 101¼-103½ 100¼-101¾ 100¼-101¾ 101¾-104 101¼-102¼ 101¾-103~ 102¼-10! 102 -10 .... .... - .... .... .... - ·••· .... - .... .... - ... .... ... - .... - ... ... - .... .... lM!J.(-163¾ 155 -161¼ 148 -158 139 84 - 50½ 45 - 50 .... - . ... 42 78½- 83 80 - 83 80 - 80 82 lM½-155 155¾-155¼ .... - .... 146 ... ... - .. . - .... .... 98 -107 46 - 51½ 98 -103 53½- 64¾ 100 -l0i¾ 242 -247¾ 58~- 62¾ 103"'-107 32 - 39 104½-110½ 4·l - 43 106~-106~ AUGUST. 8EPT'BER. 0C'TOBER. NOV~BER. DEC'BER. 97 -101¼ 41¼- 46 92½- 99¾ 49¼- 54¼ 96 - 98~ 236½-240 94 -102 3i¼- 46¾ 89¼- 96 46 - 57¾ 97 - 99¾ 220¼-239¾ 5,l!'(- 58 49 - 67¾ 102¼-105 100 -103 26½- 82 25 - 32¼ 98!J.(-105½ 94 -103¾ .. - .... ... - .... .... ... - .... .... .. .... .... ... .... ... .... - ... .... -- .... ... .... .... - .... .... .... .... - ... - .... .... - .... .... - .... ... - .... - .. ...... .... ... ... - .... - .... ... - .... .... - .... ... - ... .... .... ... ... ········ ....... - ........ - ... .... - ... .... - .... ... - .... ...... - .... .... .. .... .... .... .... - ... ... - .... .... - ... ... .... ·•·· ... - ... .. - .. - ······· . .. ... - .... .... .. - .... ... .... .. - .... .. ... .... - .... ... .. .. - .... .... - ... .... - .. ... .... - .... .... - .... .... - .... - .... ... .. ... ... .. - .. - .... .... - .. .. ... .... .... .... ... .... .. . ...... - ········ .... ... - ... - 1907'. STOCKS Aprl.l J uly September October November December January F ebruary May August March June Low Htgh Low Htgh Low Htgh Low Hiqh Low High Low High Low High Low Htgh Low High Low Htgh Low Htgh Low Htgh ---- ---- ---- ---- ---- - - -----------R.AILR.OADS. Atchison Topeka & San ta Fe- ___ 983g 10814 9914105 825g 10212 895g 98 c86 963g 8614 927g 8912 96 8134 9212 85 8834 72 8634 663g 7712 687g 75 925g 887g 91 995g 92 981g 9412 9734 9213 9612 9212 0414 92 83 89 78 94 89 Preferred 99 1015g 98 8112 88 85 14 14 . --R,ights - - - - - - ~ - -- - - -- -- - - -- - - - - ---- ---- ---- - -- - - --- ---- - -- - ---- ---803g 58 59 7012 65¾ 7212 Atlantic Coast Line R.R.-- ------ 11934 1331g 115 12212 94 11612 101 10634 92 104 9434 9912 96 10014 77 9512 7934 84 Baltimore & Ohio---- -- ____ ___ 1145g 122 1075g 1171:: 901 6 11058 961210212 92 1007g 92 9612 96 995s 87 9712 881g 9214 7734 90 753g 8312 795s 8514 837g 75 921g 9412 90 .9314 87 8312 8312 80 75 7734 86 86 80 86 8912 85 88 86 86 Preferred 885s 881g 90 68 693g 7234 75 80 80 91 78 90 91 - --- ---- ---- ---- 78 81 Buffalo Rochester & Pittsburgh_ 115 115 --- - 95 95 90 100 105 90 ---- ---Preferred ------- ----------- 135 135 13934 1393,1 - --- ---- - - - - - --- ---- 125 125 - --- ---- ------Buffalo & Susquehanna. pref_ __ 85 85 83 8/i34 --------- - --- - -- -- - -- - - -- - ---- --- - - --- ---- ---- - --- 7412 7434 Canadian Pacific __ - ___ - _______ 1791219512 17812 18834 155 1833g 1711218934 164 17812 1643417412 1721217812 1593417,5,34 157 171 144 170 138 15112 1481s 15512 Subscription receipts- - _- _____ 19434 19434 ---Canada Southern- _____________ 6334 6512 631g 643g 60 6312 6012 633g 61 633g 621g 64 64 651g 60 6212 6014 6112 55 6014 52 59 55 5834 Central of New Jersey __________ 210 220 200 212 165 206 190 195 174 186 170 180 175 185 ]68 170 169 177 158 174 144 155 156 169 Chesapeake & Ohio ____________ 49 56 325g 3434 265g 3314 2314 295s 263g 3114 4812 5312 3634 5034 3912 4334 3134 4212 321g 3614 3414 3612 3034 36 Sig 1212 11 Chicago & Alton----- _________ 2412 2712 18 221g 1434 19 15 1712 1112 16 15 18 1612 1914 91g 1212 ---1034 15 1412 65 ..6512 59 6512 69 Preferred 6112 - - ---- - ---- 50 54 51 53 4912 5034 48 497g 4812 49 ---210 200 205 Chicago Burlington & Quincy ___ - --- -- - - 200 200 218 200 228 -----------------------Chicago & Eastern Illinois, pref- 120 120 ---- --- - --- - -- - 115 115 67g 77g 7 Chicago Great Western- - - - - ___ 153g 18 1512 1612 1214 157g 1012 1414 912 1134 934 1114 1034 11 34 95s 115g 83g 101g 7 9 834 4 % debentures--- ____ - - _____ 17 78 771s 79 7634 78 75 75 73 73 46 47 6412 6412 50 64 50 70 7212 65 64 51 65 64 5 % preferred A--------- - ---- 6912 7112 6914 7134 6112 691g 50 6212 445g 523g 43 45 4912 55 3912 50 37 50 261g 45 25 2934 21 2934 4 % preferred B- ____________ _ 2214 261g 2134 237g 17 2212 1514 20 1212 173s 1334 173g 15 1214 1312 85s 1212 812 lOlg 814 1014 1612 1214 15 _, ___ Chicago Ind & Louisville, pref __ -- -70 70 - --- - - - - - - - - - - - - - -- - - -- - --- - ---- --- - -- - --- - --- - -- -- ---Chicago Milwaukee & St PauJ ___ 1451g 15712 14314 15012 12212 1463g 131 13914 123 1383.i 12334 1303g 12912 1365g 117121333g 115141251g 98121U>5s 931210412 97341073g Preferred - -- - ----- -- ---- -- - 159 16512 1621216514 145 161 148 15912 150 159 148 15234 148 15312 14512 1513,i 146 148 135 145 130 136 132 138 Subscription warrants------- - 31 3&'la 32 32 Common certificates- - _- _- ___ 130 141 12714 13314 112 12714 116 122 107 12012 108 11312 11334 12234 1071211614 107 115 1015g 106 85 94 90 9734 Preferred certificates-- _______ 14334149 14[ 148 129 14212 132 13912 12612 13912 12912 13414 132 13712 125 134 128 13134 l 1 130 1111211812 1181g 1265g Chicago & North Western ______ 17934 205 bl57 168 13712 162 147 15&'l4 14414 15512 13914 14914 145121517s 138 14834 1431414734 126 146 12812135 133 140 Preferred -- ---------------- 225 234 210 210 207 212 200 220 205 205 2047g 205 205 209 197 210 ---- --- - 185 201 183 195 185 185 R,ights ---- - - - - -- --- --- - - - - - 16 181g 1414 1658 10 16 --- - - -- - - --- --- - ---- - - - - - - - - - -- - ---- -- - - --- - - --- ---- ---- --- - ---- ---- ---Chicago St PauJ Minn & Omaha- 160 170 170 170 120 147 133 1397s 124 13514 125 130 132 132 115 12412 124 130 106 125 ,110 115 1165g 12134 13712140 160 165 Preferred ---- 160 160 ---- ---- - -- - - - -- - --- --- --- - 160 160 145 145 160 160 912 914 934 5 312 334 - --5 6 612 612 5 5 - --- ---7 Chicago Terminal Transfer - - - - - - 9 -- -221g 101g 15 1014 1014 10 10 23 25 1612 15 12 22 22 16 9 16 20 --- Preferred 5212 505g 5714 70 7412 63 7212 63 6634 651g 691g 58 66 6034 6334 497g 601g 48 Cleve Cin Chic & St Louis- - - - - _ 871g 927g 8512 9112 63 83 90 1071410812 85 101 101 10012 106 92 92 106 106 Preferred -----------------... - - - - - -- --- - --- - -- - ---- ------ - ,------ -- - 90 ---- ---- ---95 85 85 - --- - - - - - - - - -- - - 90 90 ---- ---- --- - ---- 90 Cleveland Lorain & Wheeling __ - - -- - ---- ---- - -- - d5 115 115 Preferred ------------------ - --- --- - --- - ---- ---- ---- ---- --- ------- ---- --- - -- -- - --- - --- ---- ---- ---- --- ---- ---- ------- ------- ------- --------- --------- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis c Ex divid end and ri ghts. ------- RAILROAD AND MISCELLANEOUS STOCKS. 118 190?'-Con tinned. ______________ ,____ - --- - - - - - -- - - - - - - - - - - - - - - - - - _____ ,____ _____,_____ J anua'T1f STOCKS. Februar11 March Aprtl Mau June Jul11 August SeptemJJer NowmJJer Decemoer Qctobef, Low High Low High Low High Low High Low High Low High Low Htgh Low High Low High Lt1uJ Htgli Low High LmD High; _, Cleveland & Pittsburgh, guar . __ ---- -- -- 175 175 160 160 ---- - --- ---- ____ ---- ____ ---- ___ _ ____ _ __________ _ Colorado & Southern-- -------- 33 387a 32 3712 2212 34 25 2812 21 251? 2214 257a 2412 2734 21 277g 22 245a 18 22 17 1834 1734 24 1st preferred------------ -- -- 65 6912 66 677a 5834 6684 5712 6114 56 60 - 57 6034 5712 6034 51 5914 5112 5612 4212 5312 41 453s 4412 52 2d preferred------------- --- 54 5812 5334 58 44 5512 4634 49 40 47 4034 4734 4412 4734 40 4514 42 4412 313,t 421 2 2912 35 34 4212 Cripple Creek Central---------- 69 73 ---- ____ --- - ____ ---- _________________________________________________________________ __ _ Delaware & Hudson------- ---- 208 22712 201 2147a 167 206 181 19314 161 1901 4 160 171 16614173 147 16912152121641 2 1236s 1571 2 124 135 13312149 Delaware Lackawanna & West'o 480 510 495 505 445 490 460 474 450 470 462 46212 46512470 440 460 464 474 36912 455 400 410 400 425 Denver & R,io Grande------ ---- 3512 427a 351a 3934 2812 3714 2812 315a 24 30 24 267s 27 2914 20 2812 2214 25Ig 1773 2414 16 1914 1812 22 Preferred __________________ 7912 837s 79 81 697s 7814 75 77 70 75 7034 73 70 7158 647s 70 6534 69 56 67 53 61 55 60 Des Moines & Ft Dodge ________ 15 18 ---- ---- ---- -- -- 12 1212 ------- 13 13 ---514 51.( ---512 512 Detroit & Mackinac, preferred-- ---- --- - 90 90 90 90 ---____ ---- ____ ---- __ __ ---- ___________________ _ Detroit Southern, vot tr ctfs---- ---- ---- ---- ---- ---- ---- 3 314 3 3 5 5 ---- ____ ---- ____ 3 3 ---- ___________________ _ Duluth South Shore & Atlantic-- 1612 1912 16 14 1814 934 17 13 15 101., 12 10 11 11 14 12 75s 1012 9 10 6 14 87s 75s 834 714 9 Preferred __________________ 2912 39 30 331., 20 25 22 2512 19 - 2312 20 221 2 20 211., 171s 20 18 1812 1212 171 2 10 1314 13 15 Erie _________________________ 335s 441 4 3218 37a8 217s 3414 2234 2658 20 251 4 2os8 2378 227s 2614 18 24 195g 22 161 2 2038 1214 181 4 158s 1778 1st preferred---- --------- --- 69 757g 6734 7134 57 6814 513g 6014 5314 563,1 55 59 58 62 4512 593-1 45 513.1 37 46 28 401g 3314 373., 2d preferred--- --- -- -------- 5712 67 58 6214 3434 58 35'• 4184 3312 3912 35 39 40 44 2914 4112 353-1 3912 2712 36 20 28 2284 2712 Evansville & Terre Haute, pref-- --- ---- ---- ---- 90 92 ---- ---- --- - ---- ---- ---- ---- ---- ---- ---- ---- ____ ---- ___________ _ Great Northern, preferred-- ---- 164 18934 159 17114 126 16312 b12934 4112 123 13812 122 13214 130 1383g 114 13314 1235g 132 107121311" 109 116:lg 1125g 12214 Subscription receipts----- ------- --- - 122 13034 11614129 115 124 123 12958 10512124 1167s 122 98 120 9914 111 1103s 117 Ore certificates-------------- 73 85 69 78 50 7234 56 14 64 4912 63 4934 5714 55 6112 44 5612 52 58ls 37 523" 38 441 2 4384 511s Rights-- - ---- ---------------- -834 1112 ---- ---- ------- --- - ---- ---- -- -- ---- ___________________ _ Green Bay & Western - _______ - _ --- --- - 71 71 --- - --- _ - -- ---- --- - ---- --- - ---- - --- ____ ---- ____ --- - ___ _ Debenture certificates, Ser A--------- ---- -- -- ---- ---- - ------ ---- - --- - --- -- -- 7& 75 ---- --- - ---- ---De'?enture certificates, Ser B-- 13 1412 ---8 1112 934 101s 812 914 8 912 9 14 1112 712 812 714 9 ~ 812 614 634 18s 9 Hocking Valley ___________ ____ 115 115 ---80 80 ---- ---- ---- ------- ---- ---- 74 74 63 65 66 66 Preferred _____________ _____ 8712 94 8712 90 8312 91 84 85 8312 8312 8312 312 ---- ____ 83 83 7714 80 6514 80 64 7012 697g 76 JP Morgan & Co , com rec----- --- --- - ---- ---- 753s 114 80 85 78 80 78 81 80 87 747s 80 75 84 70 3214 63 68 65 68 JP Morgan & Co, pref rec------- - --- - --- - - --- ---- -- -- ---- ---- ---- ---- - - -- ---- 80 80 ---- ---- ---- ---- ---Illinois CentraJ ________________ 158 172 155 16214 134 155 145 1491 2 13412145 135 144 1411s 145 128 141 134 142 118 13514 116 125 120 127 Leased lines stock ___________ 9912 9912 9814 9 14 ---- ---- ---- --- - ---- ____ 92 92 ---- ____ ---- ____ 93 93 ---- ____ 90 90 ___ _ Iowa CentraJ _________ ________ 24 287g 2312 2534 18 211 4 18 191 4 18 191g 1734 19 17 1834 15 1112 1514 165s 12 161 2 912 12 10 1214 Preferred __ ___________ _____ 43 51 43 4534 301g 43 34 381 2 367g 42 3834 4112 3834 397s 3412 3834 35 4012 3734 391s ________ 29 30 ~!~ci~t ~-~i~~~~~== ======= -;;3- ·ii-==== ____50 KC F S & M, tr ctfs, pref ______ 78 80 78 79 74 5 50 771? 28 • 5834 - --3712 241g 61 ____ 76 23 52 ------2014 55 3 ==== -~~_7612 _~_ ==== ==== ==== ==== ==== === ===== ==== ==== ==== -~~- __~_ ==== 79 75 70 7384 73 73 70 73 73 73 60 65 60 65 6312 65 Kansas City Southern---- ----- 261s 3034 27 2914 18 2734 23 26 241s 251 2 2534 2778 2212 28 2412 278s 1934 2534 2012 2368 22 241 2 Preferred _______________ ___ 56 6134 565g 6114 45 613is 575s 607g 55 6058 567s 5834 491s 57 53's 5634 48 543.1 48 5112 51 54 Keokuk & Des Moines---- ----- 11 11 10 10 ---784 8 ---7 7s 778 ---812 9 - --- ____ 4711 5 4 6 Preferred ______________ ____ ---- - --- ---- ---- 3712 ---- ---___ _ ---- _ ___ --- - ____ ---- _______________ _ Lake Erie & Western------ ---- 27 2812 231g 27 191" 25 20 20 ------- ---- ___ _ --- - ____ 1114 15 11 12 11 12 Preferred ______________ ____ ---- ---- ---- -- -- 57 671:i 65 65 ---- ---- --- - ---- --- - ---- 45 4512 40 40 398" 40 ---Lake Shore & Michigan Southern ---- ---- ---- - --- ---- ---- - - - - ---- ------- ---- ---- 300 300 --- - --- - ---- ____ --- - ---- ---Long Island----- ------------- 61 6712 62 63 52 60 52 57 5412 55 ---- ____ 45 50 45 45 ---- ---- ---- ____ 30 40 26 35 Louisville & Nash ville-- __ _____ 1337s 1451g 12612 13612 108 1287g 116 12114 109 12014 10912 11614 1121,t 11814 103 1121:i 105¾ 1101" 9()12 106 8512 9714 89 96 Manhattan Elevated----- ------ 14112143341421:d46 129 143 134 13912133 11114012130 136 131 133 110 1327s 115 122 1007311812105 11314112 120 MexicanCentraJ ________ _______ 221g 275g 22111 25111 15 23¼ 21 237g 19 2212 1912 2034 20 2134 1512 2012 163g 193" 14 17 1284 1434 133s 1512 Michigan Central- ____________ _ ---- - --- ---- - --- 125 125 ---- ---- ---- ____ ---- __ __ ---- ____ ---- ____ ---- ____ ---- ____________ ---- ___ _ Minneapolis &. St. Louis- ------ 5684 59 54 5712 49 5514 48 5014 46 503g 4112 4384 39 4234 38 4134 371 2 4134 30 401 2 ________ :!312 261" Preferred __________________ 87 90 90 90 86 88 ___ _____ --- - ____ 8012 331 2 7712 82 7612 7734 763_. 791 2 78¾ 791 2 74lz 741 2 6212 691 2 MinnStP&SSM _______ _____ 108 1401410712125 97 12184 104 1107g 90 10534 94 10812103121087s 93lg10434 98 14106 60 9514 68 7512 7212 8 112 Preferred ____ ___ ___ ________ 140 168 1361414912 123 146 12912141 1251g 135 12612137 136 13934 119 130 127 1~4 110 12934 11584120 116121.2212 Rights- - ---------- ------------ - - --- ---- -- -- ---- - --- ---- ---- ---- ---- ---- ---- ---- ---- ---- -- -ts t2 ts ts - --- ---- ---- ---Missouri Kansas & Texas------ 3512 4134 3534 4412 3014 445s 3434 3734 3014 3712 3012 3414 3234 401s 32 3914 33 37 2212 3414 208,t 25 24 2712 Preferred __________________ 6912 7234 685s 717s 59 70 637s 6634 6134 661 4 6212 641 2 645s 6778 597s 67 6314 661 4 54 65 53 57 555s 5914 Missouri Pacific _______________ 86 9284 78 87 64 801 4 727s 773a 71'2 765a 72 77 7334 7738 63 7434 67 7Fs 48 6784 4412 5714 44 1s 56 Morris & Essex-- ------------- ---- ____ ---- ---- ---- ____ ---- --- - 179 179 ---- ____ ---- ____ ---- ____ ---- ---- 1671216712 ---- ---- 155 155 Nashville Chattanooga & St L- - 136 147 13312135 119 130 123 131 131 13112 ---- ____ 125 125 120 121 120 120 108 1161 2 ________ 9 7 100 National R.R of Mexico, pref ____ 5212 593g 5412 5614 4834 5612 52 54 52 52 4914 4914 50 5214 4634 5012 47 4812 4414 4412 3912 3912 40 4412 2d preferred---------------- 2434 2612 2434 27 203s 23ts 211,2 2112 ---- ____ ---- ____ 21 21 15 161g 17 17 1312 l51z 13 13 14 1612 NY Central & Hudson River---- 125 13434 124 13012111121257s 116 1218_. 109 1195s 108141141411012114¾ 991211134 101141071" 9334 10334 9112 9934 89 9934 N Y Chicago & St Louis-_______ 58 6312 - - - - - - - - 351s 55 37 45 35 427g 36 40 37 40 29 38 32 3934 1984 34 2014 2418 24 2678 1st preferred ________________ 110 110 ---- ---- 109 109 ---92 92 85 90 85 86 2d preferred- --------------- 83 9134 ---- ---- 70 7934 72 7912 74 7712 --- - ____ 72 7434 70 70 ---- ---- 41 51 43 48 51 57 NY & Harlem ________________ ---- ---- ---- ---- 365 365 ---____ ---- __ __ ---____ ---- - --- ---N Y Lackawanna & Western--- ---- ---- ---- ---- ---- ---- ---- --- -1241212412 ---- ---- ---____ ---- ---- ---N Y New Haven & Hartford---- 18414189 1797g 1 5 17314182 175 179 164 1-117234159121653.; 1621216 158 165 14012160 1291414214 127¾ 13812 131 140 Rights _____________________ ---- ____________ ---- ____ ---- __ __________________________________ ---- ____ ____ ____ 134 3 218 41 4 NY Ontario & Western------- - 4212 4838 427s 457g 3412 431 2 3734 391 2 313s 3 1:, 32 371 4 35 14 3314 307g 36 3212 341s 28 325g 2814 3112 311" 3414 Norfolk & Western----------- - 8412 9214 83 87 71 8434 74 8014 723s 7914 7112 76 74 77 68 7412 69 12 7214 56 71 61 651g 6112 657g Preferred _________________ _ 88 9012 82 85 80 827s 75 75 80 82 8412 8412 77 84 84 84 ---- ---- 70 83 70 70 75 77 Northern Pacific _____________ • 149 1891 2 14412 15534 1141414634 12612 139 120 1371 2 1197s 1301 4 126 13758 113 1325s 121 13414 10012 13234 10212 11134 10912 12184 Subscription receipts------------ - __ __ 12512134 110 12714114 121141061211812107 11212108121141g 9612112 104 11112 9Fgl10ls 9112102 1011210784 Rights ____ __________ __ __ __ _ 17 2334 - - - - - - - _ - - - - - - - - - - - - - ___ - - - ____ - - - - __ __ - - - Pacific Coast Co- ___________ __ 121 1241s 119 12034 90 100 95 99-34 95 987s 94 987g 9812 9934 85 9212 80 90 75 84 56 71 71 7984 1st preferred------------- ----- -- -- -- ---- ---- ---- ---- ---- ---- ---- ---- ---- ____ ---- ---- ---- ---- ---- ---- ---- ---- 65 76 ---- --- 2d preferred---------------- 115 12412 113 115 95 125 993-110414 ---- ____________ 10134102 ---- ---- 90 9212 91 9114 ---- ---- 85 88 Pennsylvania RR _____________ 12912 1413s 127 1327g 114 12914 1223g 128:ls 1181s 1285s 11714 1223s 1213s 1255s 11434 12234 11 1s 1215a 1061212012 10~12 11114 1085s 11534 Peoria & Eastern------------- - 30 30 ___ __ ___ 18 2212 25 26 20 22 ________ 20 20 25 25 20 20 15 15 15 15 10 15 Pitts Cin Chic & St Louis---- -- 733s 78 73 75 67 7212 6~78 7214 66 71 6712 6 ____ 65 68 66 67 51 661" 53 601s 60 63 Preferred ____________ ______ 1051210512 100 101 9312 9 95 95 9312 94 91 91 95 95 ------- 6912 82 7434 80 811s 86 Pitts Ft W & Chicago, guar- --- ---- ____ ------- ---- ---- 16 168 ---- 163 163 ---- ---- ---- ---Railroad Securities, Illinois Central stock trust certificates- ___ - - - - - - - - - - - - - - -- - - - - - - - - 86 88 - - - - - - - - - - - 84 84 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Reading __ __ __ ______ _________ 11914 13918 11214 1268~ 91 1261 2 103 114 96's 11538 97 10114 10012 10878 ~514 10312 90 1• 985g 701-, 951g 721., 903g 873g 9712 1st preferred------- --------- 8912 92 82 73 - 84 73 - 7712 74 75 8 9012 84 89 84 8614 80 41? 80 82 79 8112 79 7s 8112 80 2d preferred ________________ 90 94 88 90 83 90 83 85 7712 83 • 7812 82 7934 80 75 75 75 80 6714 75 67 69 74 76 Rock Island CO-------- ------- 251g 301 8 2314 2718 177s 2478 2034 23s8 1814 2288 1834 221 4 207g 221 2 178s 2134 18/lg 2114 1212 19 1114 1414 1334 16 Preferred _______________ ___ 583g 641 2 5112 60 4034 5612 46 511 2 42 50 42 4612 46 483a 4014 4734 43 12 4634 34 4512 2012 3514 2712 33 R.ome Watertown & Ogdensburg --- - ___ _ 125 125 125 125 --- __ __ 122 122 ___ _ ---- 107 107 Rutland, preferred-- ---------- ---- ___ _ ---- ____ ------- 25 27 35 35 ---- ---- --- - ---- - --- ---- ---- _ -- _ 2412 2512 St Joseph & Grand Island- -------- - - --- ---- ---- 19 19 ---- --- - ---- ---- ---- ---- ---- ---- ---St L & San Fran. 1st preferred-- 6512 70 6612 6834 59 62 67 67 62 62 65 68 6534 653~ 60 60 64 64 58 601 2 60 60 ---- ___ _ 2d preferred _: __ ____ _________ 42 4838 39 44 29 40 341., 39 29 3534 30 36 3514 383s 301g 3712 3412 398s 2712 3612 24 30 28 30 C & E Ill, new stk trust ctfs-- ---- ____ 71 71 60 65 63 - 63 60 60 60 621-, 63 63 63 63 ---- ---- ---- __ ___ _______ ---- ___ _ St Lou!s Southwestern _________ 2234 251 2 2134 2434 18 23 195s 23¾ 19 21 1914 tOas 1934 22 151? 20 155g 181" 1212 1714 11 1412 1434 1512 Preferred _______ ______ _____ 5312 601 2 5414 6212 4514 55 51 57 50 5614 4784 5214 4634 5214 40 • 4 40 14 49 2512 47 25 30 285a 31 Southern vot tr ctfs stamped ext 24 1s 34 2412 2758 1984 251 2 201g 233-1 17 221 4 171? 2038 19 2018 145s 191 2 15 1634 11 1514 10 13 121s 15 Preferred do do-- ----- - -- 841g 941 2 74 534 70 7912 63 721 2 53 671 2 5614 71 6212 69 501g 641 2 52 5812 37 53 2912 41 35 41 M & 0 stock trust certificates - 97 97 9412 9412 85 92 ---- ---- ---- ____ ---- ____ ---- ____ ---- ___ _ ---____ ---- ____ ---- ---Southern Pacific CO---- ------- 9014 961 4 8984 95¾ 6934 9134 7634 861 4 b7334 8784 7:!84 SO::.; 7684 9158 7934 901 4 835s 8714 6314 841 8 6414 7334 7012 771g Preferred __________________ 116341181 8 1171211118 112 11712 114 117 b1091-1I18 110 11412 111 113 10 1s 11212 109 11112 100 11014 101 10734 107 110 ~ights ----- ---------------- --- - ____ ____ ____ ____ 58 114 3-1 1 ---- ___ _ ________ --- _______ _ Preferred subscription rects-- ---- ____ ____ ---- ---- ---- ---- ____ 1063g 1101 4 1095a 112 1075g 11112 --- - ---- ---- ____ ---- ---- ---Texas Central------------- ---- ___ _ __ __ - ------ ---- ---- ---50 50 --- - --- - ---- ---- - --- ---- ---- ---- --- - ---- --- Preferred ________ . ____ __ ___ ____ ____ ____ ____ __- - ____ - - - _____ - - - - ____ 85 85 - - - - • - - _ - - - - • - - - - - - - - - - - - - - - • - - - - - - - - - - - - - - Texas & Pacific _______________ 3114 371 8 32 35 2434 3314 2784 2978 25 291 2 2514 311 8 2834 32 24 308s 2512 291" 1734 251 4 1712 191 2 19 21 Toledo Peoria & Western _______ ---- ____ 1714 1714 ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ------- - --- ---- -- -- ---Toledo St Louis & Western----- 3012 3384 2834 321 4 2334 2984 2712 3014 2 12 30 27 2778 2612 2734 24 267s 23 7s 261 :,i 1912 2578 1712 1934 1634 18 Preferred ____________ ______ 501 2 5334 50 5238 45 511 2 511s 5478 4934 5318 481" 501 2 487s 5034 40 4934 45 4814 30 455g 2934 3434 3034 3612 Union Pacific _____________ ____ 1687s 183 1683s 17714 12014 17134 132¾ 14834 13158 15078 1285s 1391 2 1355s 148 12012 1441g 12514 1341s 100 12938 10634 11614 1131s 12034 Preferred ------------ ------ 92 94 90 91 6 91 8534 8834 87 96 84 87 83's 85 75 83 7 8212 75 8212 75 80 78l>s 81 Vat1dalia ---------------- ---- 93 93 512 90 85 85's 85 85 ---- ____ ---- ____ ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---Wabash ------------ --------- 161s 131 2 1514 17 1212 1514 14 15 117g 14 121s 138s 1314 14 105g 1314 1034 125s 8 1114 813 914 9 107s Prefer-red __ ___ ___ __________ 31 381 2 291 2 341_1 2112 3114 2412 27 217s 2634 22 25 24 26 1934 2434 19 22 1434 20 H's 1612 16¾ 1914 Western 1'1arylaod ____________ 25 3012 30 30 19 19 15 15 15 15 15 16 15 15 12 12 --- - ---6 9 8 912 1012 143" Wheeling & Lake Erie--------- 1284 1634 1112 13 912 1234 12 13¾ IO 11 1012 ll 812 11 8 7s 1012 6 ~ 612 712 634 812 1st preferred-- -•---- -------- 3112 3734 28 3334 225g 3012 25 30 22 26 25 26 26 28 2114 2414 21 25 13 20 1312 16 1412 18 2d preferred--- ------- ------ 1712 2134 17 1934 14 18 16 177s 13 15 15 17 1112 13 --- - · 8 10 8 8 11 1214 Wisconsin Central ---- -------- - 221 2 2518 20 23 16 2012 17 1934 I6's 181 2 16 17 1634 171 2 13Js 17 15 1514 1112 1512 11 1412 1212 15la Preferred __________________ ·447s 511 2 43 47 36 46 39 42 36 40 36 41 40 4034 3012 3812 38 39 28 39 30 30 31 35 EXPRESS ---- 285 297 295 330 165 165 150 165 165 165 160 165 1161 165 165 165 \dams ---------------------- 290 290 290 295 280 280 \merican --- - ---- ------------ 235 247 228 235 200 228 210 210 209 212 211 230 215 215 180 21514 202 202 175 200 175 180 180141801, 85 105 ---- 78 8978 70 75 75 90 United States--- ---- -- -------- 110 117 105 105 100 105 100 11184 95 100 98 11414 10814 111 Wells. Fargo & Co---- -------- 280 290 ---- ---- 270 270 255 260 250 275 290 300 285 285 280 280 --- - --- - -- -- ---- ---- - - -- ---- ---- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis /; E"-- right!!. MISCELLANEOUS STOCKS. 119 1907'-Continued. STOCKS COAL AND MINING Prices Of mintng stocks of par January February March H'l{Jh Low H'l{Jh Low H'l{Jh Low - - - - ---- Ju.l,y April August September Ocwber May June November December High Low H 'l{Jh Low H'l{Jh Low H1,gh Low H1.{Jh Low H1,gh Low H¾}h Low Htgh Low Htr,.1 Low - - - - - - - - ---- ---- eaiue of $25 or less are dollars per share, others per cent . Par. Alice Mining _____ ____ ___ ____ _5 614 712 6 414 4 612 4 514 5 512 4 412 3 414 4 414 -- - Amalgamated Copper- - ____ - 100 1103g 1217g 1081211512 7812 lllls 89 991g 8334 9814 8034 873g 85-3g 94 65 861g 5614 7412 4134 603g 4412 52 42 5214 American Coal- _____________ 25 145 145 146 146 140 140 - - - - - - -- -- -- - -- ---Anaconda Copper a _________ 25 26912 29112 269 30234 a53 741g 59 647p 55 65 533g 5814 55 6114 42 5514 3534 48 251g 393g 297g 34'14. 257g 34 Balaklala Copper- ___________ 10 - - -- - - - - --- - ---- - - -- - - - - ---- - - - - 834 93g 77g 934 812 11 512 834 Sig 712 3 512 134 31g 112 412 Batopilas Mining ____________ 20 - -- 512 712 53s 734 3 8l4 634 8 3 41g 634 314 5 - -- - - - - - - --- - -- - - - - - 734 91g 7 Colorado Fuel & lron _______ 100 4612 577g 42 5012 29 447g 3312 38 2712 37 28 3212 30 3334 22 31 1714 2612 1414 20 14 1712 17 22 Preferred - - - - - - - - - - - - - - - - - 100 85 8512 ---40 65 55 65 57 65 31 35 75 60 4014 57 35 35 --- ---- ---Columbus & Hock Coal & lron100 241g 28 22 25 20 2534 25 283g 2 112 271:? 2114 25 2434 2514 1912 2434 205g 2414 1514 22 15 19 14 19 Comstock Tunnel-- ___________ 2 30c. 50c. 29c. 47c 23c. 34c. 27c. 40c. 25c. 35e. 25c. 34c. 25c 27c 23c 25c 22c 25c 20c 30c 19c 21c ---- ---18 -- -- - -- - 15 15 --- - - -- - --- - - 1st income 4s--------------- 22c. 22c. 20c. 23c. 18c. 1812c. 18c. 20c. 16c. 16c. --- - -- - - ---- - 18 Consolidation Coal __ ______ _100 9712 9912 9312 9312 --- - - -- - - --85 86 80 85 86 90 - -- - - --- --- - --- - - -- - --- - - -- - --- - -Granby Cons Min Sm & P---100 129 131 12814 152 120 145 125 136 12514 139 1171s 12512 126 12714 100 115 80 90 60 90 70 90 70 80 Homestake Mining _________ 100 --- 85 5512 70 7012 72 54 60 71 72 7212 7212 7314 70 7212 54 60 85 --- - ---- 56 75 61 Horn Silver Mining __________ 25 134 134 1.60 1.75 1.60 1.65 ---- ---- 1.60 1.60 --- - ---- ---- ---- 1.65 1.65 ---·- - -- - ---- --- Iron Silver Mining ______ _______ 45g 45g 412 41:i 1 11.( 3.50 2.35 2.35 3.70 1 4 ---- ------ - ---- --- - ---- ---- ---- --- ---New Central Coal- ___________ 20 --- ---- - -- - - -- - - --- -- -- ---- --- - 25 25 -- -- - - --- - -- - - - 14 ---- --1812 -- -75g 1134 167g 143g 1812 10 15 512 g 6 Newhouse Mines & Smelters- 10 2034 15 534 9 1~58 734 ---Ontario Silver Mining ____ ___ 100 43,1 83g 63g 85g 5 21, 21g .) 414 414 4'ls 47g 35g 4 73g 434 614 4 3 12 312 212 312 ---113,1 11 101g 7 91g 8 1012 8 Pitts Coal of New JcrseY---- 100 153s 167s 14 16 12 1512 115g 13 1112 1212 11 1112 734 105g 9 1012 Preferred -- -- ____________ - 100 56 605g 55 5834 49 57 5114 55, 52 55-5g 50 52 48 515s 54 371, 4412 5112 481g 5012 381g 5014 37 43 Quicksilver Mining ____ _____ 100 7g 1 7s 34 34 34 7g - - - - -- - 7g - - - - -- -7g - - -- --- 34 -- - - --- - lls Jig --- - ----- -Preferred ----------- - - -- 100 -- - ---- --- - - --- ---- ---- - -- - - - - - - -- - 134 134 15g 15g --- ----- - -- -- ---Standard Mining ____________ 10 2 .90 3.70 3.25 3.30 2.40 3 .00 2.45 2 .50 2.40 2 .50 - --2 1.90 1.90 214 214 2.10 2.40 2 -- - - - Tennessee Coal&. Iron-- ---- 100 154 162 145 1553s 130 147 135 1473g 136 14814 13912 14012 140 143 135 135 ---- --- - 130 135 98 135 ---- ---~ights -- -- -- _________ ______ --- - ---- --- - - -- - --- - --- ... ---- ---- - -- - - - -- - --- --- - --- - -- - - - --- ---- - --- -- -- 214 3 Tennessee Copper-- _____ ____ 25 ---- -- - - 50 5112 347g 5312 3812 403.t 357s 4114 3512 3812 37 40 30 3634 28 37 17 317s 22 27 24 ---28 Utah Copper _________ ______ -10 ---- --- - ---- 24 3912 2612 3134 2412 30 25 2812 265s 32 2112 28 21 2412 13 22 1334 19 1s1, 2038 Virginia Iron Coal & Coke- _-100 77 97 671.( 90 55 73 14 653s 77 62 7134 60 65 62 66 45 68 50 55 31 50l4 315g 3812 371., 41 ---- -- --- --- -- VA~IOUS. 91g Allis,.Chalmers -- ----- -------- 1312 167g 1234 157g 10 1414 lllg 127g 91g 117g 95g 107g 934 1I7s 4 10 6 5 714 5 534 512 658 271g 30 141g 22 303g 1512 27 Preferred 27 17 25 25 14 3414 4334 34 391g 15 16 3412 28 3512 26 14 32 17 1514 1914 1514 1812 10 American Ag~icultural Chemical 23 253s 2212 25 19 2312 20 21 15 1012 133.( 1134 13 20 15 20 1714 16 16 825g 825s ---- -- - - 75 Preferred 9012 91 75 95 7712 78 75 75 95 --- 85 85 American Beet Sugar ______ __ __ 1912 2312 1812 217g 1412 1914 15 177g 1014 16 11 14 15 16 1014 147g 1112 1312 8 1112 734. 934 814 1012 Preferred - ___________ ______ 80 80 75 75 75 - -- - ---- 75 -- - - -- ----- --- 1- ---American Can ___________ _____ 514 7 512 712 514 634 5111 55s 514 534 414 514 41g 434 3 4'ls 3 a 3 34 312 414 ---- -- - -' - -- - 4814 391., 4112 Preferred 5414 5212 5512 43 5212 48 34 5134 6012 53 50 36 42 49 55 5512 52 American c;r & Foundry ______ 411g 4514 4112 45 31 443g 351g 383g 34 3914 3734 433s 4212 4412 3514 43 36 421g 243g 37 24511 2833 2634 335g Preferred __________ ___ _____ 10012 103 101 103 92121027s 97 9934 9812 100 97 99 9734 101 93 10012 92 9914 78 94 80 85 83 14 901g American Cotton QiJ ___________ 2912 3214 30 337s 27 3214 2914 3I7s 2812 3112 2934 317s 31 3612 2912 347g 31 34 23 321g 21 2634 26 2912 Preferred _ _________________ 90 90 8812 8812 88 8812 _ __ _ _ _ __ 88 90 82 85 86 9212 87 70 87 82 80 80 85 80 20 30 20 American District Telegraph ____ --- - - --- ---- --- - ---- ---30 --- - -- 3- - --- - ------57g 61g 334 57g American Grass Twme- _ _______ 612 814 614 734 51g 65g 534 634 512. 61g 51., 6 414 5 314 41g 3 4 5 4- 4 37g 4 American Hide & Leather______ 512 614 5 4 234 312 212 312 313 334 512 414 512 47g 5 I 4 ~ 47g 412 31g 4 Preferred _ ________ __ __ ____ _ 2412 3012 2412 29 20 2512 2012 1012 125g 12 197g 185g 2012 1512 1914 15 1712 IO 15 22 16 2112 18 15 American Ice Securities- __ __ __ _ 85 88 80 86 76 8312 72 83 65 75 62 7134 50 7012 50 57 32 5334 318 3I7s 1012 1273 I23s 2212 American Linseed-- ___________ 16 1914 1612 1734 1214 163g 12 1512 10 1414 934 IO 63g 81g 912 Ills 73.( 7 7 9 8 734 9 9 Preferred _ __________ ____ ___ 335s 36 32 35 27 30 25 33 24 27 24 2412 221i 25 17 22 19 2014 1612 1834 1634 1734 1714 18 American Locomotive- __ _______ 70 7 434 70 7534 5534 7212 6034 6634 5512 6412 545g 6014 56 6012 4912 57 4934 55 35 52 3214. 40 34 • 3934 Preferred _________ _________ 109141111 2 11012 11034 101 11012 105 110 10512 110 103 105 10412 10612 98 10612 9914102 83 9912 84 9312 8512 89 212 4 312 412 4 American Malt Corporation- ____ - - - - --- - ---- - --- - -- - - - - - 712 712 5 412 --- 312 312 ---- - -- 514 312 312 1914 21 1714 20 17 1812 18511 2}14 Preferred --------- --------- --- - ---- 40 40 297g 35 30 3112 ---- ---- 22 2234 23 2334 22 22 American Malt Tr Co ctfs- ______ - - - - --- - 314 312 --- - ---- ---- ---- ---- --- - ---- -- - - ---- ---- ---- --- - - ----------------Preferred Trust Co ctfg _______ 24 2512 23 14 2414 --- - ---- --- - ---- ---- ---- ---------- ---- ------ - ---- ---- - --- ---American Pneumatic Service- ___ 28 28 21 21 ---------- - -- --- - - -- ---- - --- -- -- - --- ---- --------American Smelt Sec, pref B----- 92 931g 9134 9134 86 901 2 907g 9078 90 93 8734 8734 91 91 90 90 - --- ____ 60 857s 75 75 75 78 American Smelting & Refining __ 1415s 155 1381 2 14658 10414 1401 4 11914 13814 11134 13678 1127g 12014 11212 12214 \JO 1137s 8412 1033g 6114 891 8 5814 73 665g 7912 '· Preferred __________________ l13121173gll25sl1538 100 1141 2 104 1091 2 104141091 2 1031210718 104121081:? 92121051s 9512101 8134 97 831 2 90 8912 9253 American Snuff _______________ 19712205 ________ 205 205 _______ _ 195 195 ___ __ ___ 1921219212 ____ ____ -~-- ____ 150 175 150 150 150 150 Preferred ------------------ ---- ____________ 99 99 95 100 1 9914100 102 102 ---- ---- ---- ____ 8212 8212 75 75 70 70 ________ American Steel Foundries- _____ 834 1034 814 934 71g 812 8 9 512 8 634 712 7 8 512 7 6 714 4'14 7 45g 6 '. 7 Preferred ------------------ 4112 471:? 42 4414 34 42 37 40 35 39 34 3714 3714 41 28-34 38 32 41 23 35 20 311 2 27 31 American Sugar Refining Co- ___ 1291413638 12918 1371 2 1147g 13138 122 12778 1197g 127 119 12278 121 12434 10712 123 109 11534 97 11238 995g 107 9234 109 Preferred ------------ ------ 13014131 12912131 122 12812 124 125 124 125 ___ _____ 125 126 118 12012 1157g 118 108 117 106 1101 2 106 110 American Telegraph & Cable Co- ---- ---- 85 88 75 801 4 80 80 I 75 77 ---- ____ ---- ____ --- - - --- 79 80 __ ______ 60 65 60 60 American Telephone & Telegraph 128 133 128 12812 11812 119 121 121 122> 1231 2 cl0412110 1093410934 ---- ___ _ ______ __ 88 10234 8934100 99 105 American Tobacco (new) pref___ 96 9834 9412 97 8612 951 2 9012 931g 91~ 931 8 !J l 93 8412 92 743g 8612 77 8134 60 7812 60 67 6614 75 American Woolen Co _____ _____ 303.1 3612 3012 33 24 321 2 28 3114 241 8 30 245s 26 251s 281 2 211g 2612 2oag 241 2 11 201 2 121g 1458 1334 1114 P!eferred ------------------ 99121027s 997s 1001 2 95 9934 9512 98 I 903g 9514 , 90 9114 9034 9134 85 91 88 89 691g 8578 68 73 7934 8114 R1gb ts ______ __ __ ____ __ __ ___ 2c. 11 c. _ ___ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ __ _ _ _ _ _ - - - - ______ - - _ _ _ _ _ _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ __ _ __ _ _ __ _ _ _ Associated Merchants, 1st pref __ ---- ---- 105 105 100 10614103 103 ---- ____ 103 103 -- -- -- -- 98 98 - --- __ _______ ___ --- - _______ _ Bethlehem Steel Corporation ---- 1812 2012 18 1812 1014 17 12 1314 10 11 103g 11 11 1412 9 1212 105g 14 9 12 8 91 2 8 101 2 Preferred --- ------- ------- - 56 65 50 50 45 51 49 49 I 40 40 ___ ___ __ ---- ____ 30 3712 32 32 2812 35 23 281 2 23 23 Brooklyn Rapid Transit--- ----- 7I7s 835s 69 7534 4514 7078 53 631 2 48 6218 48 5658 5512 6012 3714 5714 423s 491 4 29 481~ 2634 3414 3278 4134 Brooklyn Union Gas---- ------- 110 111 112121211 2 108 116 110 115 105 125 108 10912 106 110 ________ 997s 10434 80 85 80 83 80 91 Brunswick Dock&. C lmpf- ____ 14 14 1334 14 11 1314 12 13 I 10 JO 10 10 1214 1334 10 10 10 10 6 6 6 7 6 8 Butterick Co ___ _____ ___ ____ ___ 49 491s ____ ____ 41 421 2 42 4834 3712 43 36 39 33 351s 31 31 30 321 2 27 2 7 25 27 25 25 Central Leather--------------- 3434 38 351g 40 25 3714 271 2 32 20 2934 21 24 2214 2412 1614 2212 1612 1914 1234 1634 117g 143s 14 171 4 Preferred ------------------ 99 10112 100 102 89 10078 95 99 90 97 8912 93 91 94 83 9214 80 87 73 811 2 68 75 121 2 7634 Central, South Amer Telegraph-- -- _____ ______________ _ 13412138 13812143 115 120 120 120 ---- ____ 110 110 10412114 105 105 ______ __ 35s 35g 35s 25s 25s 3 Chicago Union Traction-- ------ 47g 534 412 578 4 51 2 4 614 27s 434 3 3 ___ _____ ____________ ___ _ Preferred ------------------ 16 193s 15 171 2 1112 151 2 1334 19 1314 16 1534 1714 17 17 1414 1414 ____ ____ ____ ___ _ ____ ____ 7 101 4 Trust Co ctfs deposit _________ --- - ---- ____ ____ ____ ___ _ ____ ____ 334 334 3 334 27s 334 214 3 212 334 134 212 134 212 23g 21 2 ---- ---- ---- ---- ---- --- ---- ---- ---- i J 1 ==== ==== ===: :=== ===: ::== ===: :::: :::: ::== =::: ==:: -=~- 1 41 1 -~~- _::_ - ==:: ::=: --~- - :=:: ::== C:;:!c1i~~~t.f~.~~ tPLl~-ti~g -~sit, si1 2 --~ Consolidated Gas---- ----- ----- 133 139 133 140 110 140141231213414 111 1371211312121 1161412212 9912119 9614107 74 10212 801g 96 90 9'!34 Corn Products _____ __________ _____ ____ 15 · 15 ___________ ______ __________ _ ____ - --- _ ____ ___ ---- ---- ____ ____ 6 6 Corn Products Refining_____ ___ 2214 2434 21 2334 173g 22 19 21 151g 20 157g 1712 17 187g 115s 173s 13 1512 8 1314 834 11 1034 12 Preferred ----- ------------ - 8234 88 8514 88 78 871 2 7712 8114 711 2 7778 71 73 72 73 62 1s 7214 6412 67 46 641s 48 53 52 57 Detroit United RY------------ - 79 801s 7712 791 2 6514 77 70 7514 6712 71 61 6634 6812 6812 63 647s 6212 6312 3214 63 32 32 3134 371 2 Diamond Match--------------- ____ __ _____ __ ___________ 12312125 __ ____ __ 1271412714 ____________ ---- 125 125 113 113 114 114 ___ _ Distillers' Securities Corporation 6912 75 701g 78 62 761 4 6812 737g 61 711 2 62 67 6412 6914 41 65 5034 58 3734 545g 377g 431g 25 4312 Distilling Co of America, pref_ __ 75 75 ____ 72 73 ____ _ ___________________ ---- ---- ---- ____________ 56 57 ---Federal Mining & Smelting _____ 160 163 ____ 144 149 137 147 136 136 ________ 135 135 9512121 95 96 50 85 51 '5414 ,--Preferred -------------- ---- 92 97 92 9512 80 9012 84 89 8214 85 13212 85 83 85 71 82 71 7334 47 70 5112 5812 60 70 Federal Sugar Refining _________ - --- ---- 42 60 _____ ___ 54 54 55 60 55 6212 60 6212 50 .55 ________ 5414 5414 ---- ---- ___ _ Preferred -------- ---------- ---- ---- 76 8512 80 83 801s 90 8434100 ____ 85 85 ____ ____ ____ ---- _______ _ OeneralChemical----- --------- 74'14 7512 ___ __ __ _ 70 70 101 2 701 2 64 64 ____ 64 64 63 63 ____ 50 53 ___________ _ Preferred __________________ 10012102 102121021 2 9712102 99 101 98 9812 98 98 95 95 ___ _ _ ___ 85 90 8934 90 82 90 <ieneral Electric---------- ----- 15514163 156 161341361215834 145 150 135121487g cl36 14212 13534141 120 138 12& 130 8912125 103121161410712118 ~ights ------------- -------- 11 12 __ __ ____ ___ _ __ __ ____ 11:i 2 1 134 1 I3s ___ _ ---- ___________________ _ Havana Electric------------- -- 43 47 42 47 3314 45 30 3514 30 30 ____ -- - - ---- ---- ____ ---- 2412 2412 -- -Preferred --------------- --- 83 8612 82 8434 77 85 72 73 71' 77 ________ 75 75 --- - ---- ---H B Claflin Co-- - ------------- 103 103 --- - ____ 102 102 106 106 ________ ------- 9934 9934 ---- ---- ---- ---- --- Ingersoll-Rand-------- -------- 60 60 55 55 4914 52 52 52 ________ 52 52 _________________ _______ ___________ _ Preferred ------------------ 9414 9412 9312 9312 92 92 9212 93 __ ____ __ 93 93 ____ 91 9134 91 91 87 87 --- 78 82 lnterboro-Met vot trust ctfs---- 3234 39 3214 3614 221g 3358 24'!4 2778 181 2 2658 15 1838 151g 181 2 8 151 2 81g 105s 478 918 5 6 63s 31., Preferred ---------------- -- 7012 7514 6912 721 2 52 681 2 581 4 63 1 51 621 8 4212 501 2 43 4714 2012 4334 24 31 15 26 14 181., 17 22 Internat Mercan Marine stk tr ctf ---- ---- ---- ---- ---- ____ 712 734 7 77s 7 81s 714 714 6 7 6 6 412 5 412 412 534 7 Preferred ------------------ ---- - --- _______________ _ 227s 24 i 20 23 1812 21 20 221? 15 19 16 175s 11 1s1s IO 1219 15 1734 International Paper ___________ 1514 1812 15 1734 13 1612 1334 1514 1114 145s 12 1334 1314 1514 1114 1412 13 15 9 13 712 1014 8 14 93s Preferred ____________ __ ____ 7934 81 7912 8078 741 2 7918 73 7514 7018 741g 71 7158 111 2 12 1112 73 70 721., 601s 7118 51 62 51 57 International Power----------- 48 5034 4534 4734 40 47 43 4434 43 43 43 4412 4318 431g 40 44 40 4134 38 405s 35 35 ---- --- International Steam Pump _____ 3414 41 3314 3612 25 331 2 26 3114 23 27 22 24 2212 25 19 24 20 25 8 2134 814 1214 1014 1334 Preferred - - -- -------------- 7812 81 7712 797g 7412 7912 77 7934 70 7412 68 72 72 7512 661z 72 70 7034 50 70 50 5712 5712 6534 Knickerbocker Ice (Chicaco>---- 40 6912 48 48 ---- ---- ________ I____ 50 5112 20 30 ---- ---- ---- --- Preferred ------------------ 6514 6814 ---- ---- 75 75 •••••••• 1.... 65 67 65 65 ---- ---- ---- ---Laclede Gas, preferred--------- ---- ---- ---- ---- ---- ---- ________ 1____ - - - - 90 90 ____ ---- ---- -- -Macby Companies------------ 71 7514 7114 74'14 62lz 72&8 6718 70 I 67 · 7212 6414 6714 66 7012 59 6812 60 6512 40 61 43 5034 5014 5512 Preferre4 ------------------ 69 71 69 703s 63 70 671, 691z 68 6912 64 673s 6512 68 59 6712 60 65 so 6I14 51 55 58 .63 a Prioes tor Anaconda Copper per cent in Jan. and Feb. and do liars per sh are tor remainder or the year. c Ex divtd end and rl ghts.l,_ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD AND MISCELLANEOUS STOCKS. 120 19012"-Concluded. STOCKS. January February March April May June July August September OcwbeT NovembeT December Low H'lgk Lmo H'lgh Lmo Hi{Jh L<Jw Htgh L<Jw Hi{Jh Low Hi{Jh Low Hi{Jh Low Htgh Low H1.qh L<Jw H1.{lh Low Htgh L<Jw H-tqll. -------------1 Manhattan Beach CO--- ------- 5 5 412 5 4 _ __________ _ 41 8 ____ Metropolitan Street lb-------- 104 107 104 105 90 104 92 100 83 94 85 86 91 91 35 50 361 2 4518 30 36 25 29 23 28t, National Biscuit- -------------- 71 8614 8014 8514 7512 8214 76 7812 74 7714 7312 751 4 7358 76 6634 7434 72 75 581 2 731 2 59 64 64 68 981 2 9918 102 90 1161411638 11434 11614 111 1173s 1121211478 11034 114 11012 1101 2 1101 2 11034 1101 2 114 112 112 103 110 Preferred 8 61 8 81 2 7 National Enamelin&" & Stampin&" 1318 153s 14 1538 1014 14 1134 121 2 101 8 12 101 8 1118 1178 14 10 131 8 101 8 1134 8 11 Preferred ------------------ 8412 85 86 87 79 86 82 8212 8012 8212 8112 811 2 82 82 83 85 75 82 78 78 ____ ___ ____ ____ _ 44¾371 413 33 48 35 543 45 573 4212 6412 57 627 583 683 5712 64 5712 69 49 7538 65 7614 66 National Lead 4 4 4 8 4 4 4 835s 90 85 83 93 9434 80 9834 94 9878 93 98 9812 9914 97 10112 961 2 99 993s 10214 !18 100 Preferred ------------------ 1023s 103 681 2 471 2 723,e 55 601 4 109 New York Air Brake-- --------- 133 1411:i 132 1393s 100 1351 8 110 119J4 98 119 100 106 105 1257s 100 12278 105 113 25 26 ________ 25 ________ --- - ---- ---- __ _____ __ ___ 25 30 30 32 32 New York Dock--------------- 42 42 6712 671 2 671 4 68 71 71 701s 7018 --- 70 69 70 70 Preferred -----------------NY & NJ Telephone--------- - 111 115 113 115 108 113 111341141211312115 110 110 110 112 10112110 105 105 85 100 92 971 2 9834 100 _ Rights------- -------------- 3a8 41 2 North American Co. new stock-- 8014 89J4 795s 8412 6914 8034 7112 7512 65 7512 651s 69 67 io- 50 -681; -57- -623~ -411s -59- -37- 451 2 4178 -473,c Pacific Mail Steamship ________ 34 4112 3112 3614 2112 35 25 2978 2212 27 23 261 2 26 317s 2212 271 2 2212 261 4 195s 251 4 19 221 2 21 28 Peoples' Gas-Li&'ht & Coke, Chic 9414 9&58 9.214 9734 85 931 2 8912 9438 8812 931 4 891 2 911 2 91 9234 84 9034 85 8834 701 4 861 2 71 78 7618 7918 161 2 261 8 1558 181 2 17 211 2 Pressed Steel Car-------------- 47 57 4712 53 30 4914 3412 383s 30 3738 31 3514 3312 38 25 3358 2514 31 Preferred -------- --------- - 98 997s 9714 99 86 97 92 95 88 9338 8734 901 2 90 921 2 82 91 83 85 67 80 64 71 65 691 2 Pullman Co (The>----- -------- 170 181181681817112150 168 1611s 170 16012168 15814162 160 16234 153 163 1551:?158 137 157 13514140 144 14818 30· 261 2 26 2!1 2 3518 23 Railway Steel-Sprin&'--- ------- 51 5712 5012 5434 39 5234 4334 47 39 45 39 421 4 4112 4312 3134 40 3414 3 731 4 77 72 811,. 72 9078 791 2 791 2 75 87 89 89 9114 941 2 8912 91 93 981 2 91 9712 9912 90 Preferred ------ ------------ 98 99 201 2 1213 1714 151 2 181z12 1812 261 2 1934 25 271 2 2634 30 24 29 3214 367s 2212 335g 2534 3118 23 Republic Iron & Steel---------- 337s 41 70 5012 7318 5412 611 2 62 6812 8314 7214 79 85 8612 82 8612 81 8812 81 81 98 78 9534 99 Preferred ------------------ 96 100 100 _ ___________________________ 100 Rubber Goods Mfg, preferred- -___________________________ _ Sears-Roebuck, preferred------- 9312 94 9312 9414 92 9414 92 92 90 90 Sloss-Sheffield Steel & Iron- - - - 6912 7734 66 7234 42 6734 5212 56 5134 61 5334 571 4 5512 59 4414 55 44 49 26 441 2 29 381 2 3334 3834 90 ____ 88 95 ____ 80 Preferred ------------------ 105 107 103 103 100 10012 99 100 95 9834 9214 96 95 97 57lz42 60 45 58 70 ---- __ __ 45 60 73 73 fexas Pacific Land Trust------- 80 85 79 8312 68 81 74 7612 71 75 71 71 2058 17 25 201 4 431 2 16 58 43 ____ 4514104 Third Avenue-- --------------- 11712123 117121187s 101 1111 2 110 114 105 116 1041210514 93, 1912 231 2 111 2 1934 91 4 131 2 9 Toledo Railways & Light------ 28 29 27 277s 24 2834 2514 261:i 2534 29 253s 2634 25 2534 2312 25 Twin City Rapid Transit------- 1021s 10812 102 105 87341013s 9312 98 89 96 91 941 2 94 96 85 92 901s 961 2 72 94 6834 75 77 86 ___ _ 115 115 _______ _ ---- ____ ---- ____ ---- __ __________ 100 100 Preferred -----------------6 41 2 4 4 5 4 534 5 514 61 8 534 614 514 6 512 7 534 6ll4 512 7 81s 612 8 Union Bag & Paper-- ---------- 7 4234 443,. 3934 45 54 42 55 5512 55 54 5512 58 58 571 2 57 55 501s 5514 5212 55 5434 60 61 58 Preferred 7918 _______ _ 77 80 ____ ---- ____ --- - ---- 8712 871 2 65 92 92 United Cigar Mfrs, preferred---- 93 947s 92 94 87 92 8912 92 lblz 101s 14~4 12 21 241 4 12 17 26 2712 3138 20 32 20 36 26 45 32 54 27 59 54 United Rys Inv of San Francisco 53 62 31 241 23 20 381 201 36 34 42 32 491 4312 49 567 37 45 64 50 64 44 69 7118 64 66 Preferred __ _ _2 _ __ _ _ ___ ---- ____ - ___ _ __ 4_ _ ___8 ___ _ ____ ____2 ____ _ __ _ ____ 69 69 8 __ __ ____ United Rys of St Louis, pref____ 23 19 1734 20 29 17 2814 32 US Cast- Iron Pipe & Foundry __ 4514 4912 4458 4738 3014 4412 35 38 31 3734 3112 35 35 365s 27 36 581 55 55 491 751 49 811s 7714 so1 76 83 79 82 79 84 841 78 77 85 863s 863a 74 89 ------------------ 8312 ___ 2_ ___ _ ____ ____ ____ _ ___ ___ _ _ __ _ ___ _ ___ _ ____2 ____2 _ _ __2 ____ ____ ____ ___ 4_ 12 12 S Leather-_________________ U Preferred 92 87 98 90 110 ---- __ __ 87 1001-1 87 ____ 1011210112 ________ 10912110 ________ 114 114 Preferred ------------------ 106 112 U S Realty & Improvement---- 77 9012 78 88 72 8612 7134 78 58 6934 52 60 53 5712 481., 53 48 52 37 48 36 47 371., 42 6 6 7 51 91 2 US Reduction & Refining ______ 2712 3014 2112 27 1312 25 1712 201 2 1212 1718 15 17 1412 111 2 101; 1514 13 141., 7 2 J &1 4 25 29 341 4 25 35 - 4978 3934 44 - 20 52 4734 48 5478 42 5712 40 47 601s 6334 437s 68 60 • 68 Preferred US Rubber Co---------------- 4814 52 4712 5212 367s 501s 4134 44 3514 43 3334 38 3214 3912 2712 351 2 27 331 2 16 211 2 131., 1734 1778 231 8 1st preferred---------------- 104 1097s 105 1077s 991210634 1011210434 981.'.? 10218 9734 10018 9734 10112 85 98 8834 9334 62 921 8 62 .. 7034 6834 80 481 2 4414 42 39 57 6134 40 60 65 60 70 6912 66 723s 66 68 7134 75 76 68 2d preferred---------------- 75 781s 74 77 US Steel Corporation--------- - 4234 503s 427s 4634 3112 4434 3514 393s 313s 381:i 317a 3518 3514 39 2914 357s 263s 331s 2118 2734 2214 251 2 2434 281 4 Preferred ---------- -- ------ 104 1073-t 1031sl0614 911210378 9712102 96 10238 96Is 9938 99 101 91181007s 8714 96 811 8 891 2 791s 86¾ 8434 901 2 211., 1314 1912 1212 1612 1534 18 18 26 2712 19 271 2 25 Virginia-Carolina Chemical----- 321:i 393s 3112 3514 2512 3312 28 30¾ 2312 28 I 2 90 84 9! s IO~ _~~ _ ~~1_1~ _~~ _ -~~ ~ 7~14 9~14 v:i~f:rrD:ti~~i~g= ============ 10i 10i4 10:14 1oi14 ~~~ _ ~~~ _ ~~~~4 ~~~1~ ~~~~8 1_0_~1~ I ~~~_ ~~~ _ 21 26-32 32 Preferred ------------------ 5312 5312 50 57 ---- ____ 53 5378 ________________ 48 48 50 50 501s 501s ____ Western Union Telegraph ______ 82 14 85 1 8112 8312 7912 82 8034 8312 78 8318 7 14 1 7512 80 1 7412 78 73 78 62 74 541 2 65 54 611 2 Westinghouse Elec & Mfg, ass't 1483-1154 150 15012 146 15014 1433-11441 2 142 b146 143 145 142 1461 2 136 14: 138 138 341 2 129 32 54 401s 49 75 60 b-E~~ ~i!it/45 1160 160 1st preferred------------- ------- ____ ---- Co-------------- !Of ---+--- J---- ________ 1g ---+--- __ ________________________ 1908. STOCKS November Decernb,.., O::tober September August Jul,y June Ma11 A.prtl March January February Low Htgh Low Htgh Low Htqh L<Jw Htgh Lmo Htgh Low Htgl, Low Htgh Lmo Htgh Low Htgh Low Htgh Low Htgh Low High - - - - - - - - - - - -·1 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - RAILROADS. 61s 931 4 931 8 9938 943,: 10114 8478 7934 8334 811s 881s 8634 9134 841s 9134 79 731s 81 Atchison Topeka & Santa Fe- 681s 7412 66 7278 6734 76 931 2 941 2 951 2 9434 961 4 9678 1011 2 1001 2 104 931 4 93 Preferred _ _____ ______ ____ 8414 8712 833s 87 8312 8578 8512 8934 891s 9234 911 4 95 92 9312 93 111 104 llll2 87 9334 8112 93 90 41., 93 8812 96 Atlantic Coast Line RR------ 6734 751s 5934 68 5912 7514 7034 84 8134 94 93 1017a 945s 9934 98-1.1 1093~ 10634 11118 Baltimore & Ohio---------- 81 9012 7612 841., 78 841., 82 8734 8558 941 4 833; 9134 8534 94-1s 911~ 96 94 8812 911:? 92 861 2 89 851.'.? 89 83 - 84 83 83 87 86 Preferred ___ ______ ____ __ _ 80 8534 80 83 - 817s 82 - 82 8434 841 2 86 9012 9012 98 80 ________________________________________ 98 80 82 82 79 79 Buffalo Rochester & Pittsb ·- 7512 7512 7512 77 Preferred ________ - -- -- --- ____ ---- ---- ____ ---- ____ ____ ____ 105 105 ____ ____ __ _ _ __ _ _ _ __ _ ____ ____ ____ __ __ ___ _ _ __ _ ____ __ __ _ __ _ 59-34 5934 _______ _ 6434 6434 ____ Buffalo Susquehanna, pref___ Canadian Pacific----------- c1473415 34 140 151121421215414 1497s 1581 8 1541 2 161 1511 2 1623i; 159121745p 1681217714 168~s 17778 169 179 17314 18018 1737s 179111 ____ 140 150 14634 1531 2 1531 2 1561 2 ________________ Hi912172 173 173 176 17714 ____ ____ ___ ____ _ Subscription receipts ___ _ --- - ____ ---- ---- ---- ____ - - -- ___ _ _______________ _ Rights------------------ 812 878 63s 9 6614 65 6~ 65 63 63 6434 6434 65 647s 64 61 61 531 8 61 61 62 591s 59 54 56 55 62 58 Canada Southern __ HlO 195 196 20312 197 2091 2 196 205 206 21134 2115R229 185 185 188 Central of New Jersey ______ 165 183 160 170 162 175 1711418212 180 Chesapeake & Ohio __ ______ 2834 3234 2512 2978 2634 3318 3018 341 2 3318 4658 37 4638 393-t 44 • 4012 443s 3818 441:i 40 441 4 4234 511 8 481 2 593s 5112 4834 687g 38 2812 2712 41 2514 22 23 2311 26 Chicago & Alton----------- 13 1412 10 12 10 1214 1214 1734 1712 231s 21 27 711 4 79 71 67 70 61 581:i 60 57 5812 57 5 12 5934 58 60 54 Preferrlild ---------------- ________________________ 48 52 ____ 200 210 ____ Chic Burl & Quincy_________ 7ts 145g 1012 135s 53.1 73g 63.i 714 614 112 f.ls 712 73s 334 51 2 414 558 43-t 758 6 31s 5 458 81s Chicago Great Western 65 60 65 57 511s 6814 5934 5934 ____ 50 497s 4978 50 50 45 41 41 4% debentures----------- 4312 4912 38 401s 3312 39 43 34 2834 277,q 39 26 30 2714 25 20 211:i 24 23 20 201s 25 1714 1714 18 1512 205s 17 5 % preferred A----------- 21 31 165g 131s 171 97 11 91 103 712 113s 83-t 93 73s 93 7 91 61 75 61 73 Gt 61 5 10 6 4% preferred B----------8 8 8 4 4 8 4 2 2 2 8 2 8 50 50 Chic lndianap & Louisv pref_ Chicago Milwaukee & St Paul 10312 1177s 10514 11314 10 12 12018 11514 1291 2 1211 8 140 1301 2 1375s rn314 14;{1 8 14014 1473s 12114 146 132121441 4 1423s 15134 1431 2 1521 2 Preferred ________________ 138 145 13814 144 13914 145 145 152 150 157 150 151 15112 158 156 16034 1491s 157 155 158'1-l 158 1'34 161 16434 Common instalment certfs _ 981210912 987s 10312 101 11214 111 1211 2 12134 12978 1225812512 12512 134:;s 132 138 126 138 129121401s 140311145Js 1431s 14712 Preferred instalment certfs_ 12558136 12612 13278 129 1353-l 134 14314 141 148 142 145 145 lbl 14914 15212 14612 153 150 155 1547s 161 157 15114 Chicago & North Western ___ 1351215212 136 14512 143 149 14518 15214 150 160 148 15612lf,1121607s 15712 l6Jl2 lil41416412 15714 1625s 16214177 1731418512 ____ 2151 2 224 Preferred ________________ 185 195 ________ 195 195 195 200 200 20412 200 205 201 205 21)6 210 200 201 210 216 Chicago St P Minn & Omaha. 123 13212 114 12112 121 129 121 12978 1271s 138 13014 132 136 139 136 140 135 13612 135 137 138 153 153 160 1 Preferred---------------- 14012153 137 145 148 150 155 155 160 165 159 160 160 160 155 162 159 s15978158 158 163 170 16712174 534 4 6 4 5 5 4 ____ ____ 3 8 ____ ____ ____ ____ Chicago Terminal Transfer___ 434 434 134 134 ---- -- -- ____ ____ 5 20 1812 20 15 12 12 12 12 15 15 Preferred ________________ 11 12 ____ ____ 87s 1018 ____ 7012 6934 65 5514 517s 553-t !:4 52 5414 59 615s 4712 5912 5314 59 521s 5814 56 481;1 56 481s 52 Cleve Cin Chic & St Louis ·- _ 4812 62 997s 997s 99 9614 96 9112 9112 96 98 901 8 ________ 97 £51 2 90 88 851s 851s ________ 851 2 94 Preferred ________________ 89 92 _______________________ _ C!eveland Lorain & Wheeling 100 102 ________________________________________________________________ _______________________________________________________ _ ____ ____ 115 115 Preferred---------------- ---175 ____ 175 ____ 170 170 172 172 16512169 Cleveland & Pittsburgh, gu _ 16 1216812 168 168 135 135 3934 437s 4178 493s 4834 59 36!J~ 3514 40 2934 317s 303-t 3;11-1 32 2514 2212 253.i 2434 321s 2934 33 231s 26¾ 21 Colorado & Southern 703s 6912 79 663-1 6414 6714 67 64 591 4 5834 6212 tn:is 65 57 60 6034 58 5612 54 52 1st preferred_____________ 503s 527s 5114 52 597s 5912 6412 6234 76 5912 57 57 2d preferred ______________ 4112 4412 3934 4234 40 473.i 44 5112 48 511s 4612 5012 4834 5214 52 58 Cripple Creek CentraL ______ ____ ---- ---- ____ ---- ____________________________________ 30 30 ________ ---- ---- ---- ____ ---- ---_ _ _ _ _ _ - _ _ _ _ _ __ - - ___ _ 60 50 65 53 Preferred _________ ___ ____ Delaware & Hudson-------- 147 168 141121523s 1451215 14 1521sl617s 156 1663.t 157 162 160 169 167 174 160141747s 165 169 1671217814175 1813g ____ 475 480 475 490 485 540 520 524 500 519 49934 524 500 535 510 53534 535 575 550 56712 Delaware Lacka & Western _ 420 500 3514 3234 4012 3014 29 277s 2612 2 7s 27 2112 2734 2412 2114 255s 2734 26 Denver & Rio Grande------- 1934 213s 1414 2012 143s 2114 183s 21 8314 7R 78 707g 71 6712 66 6514 6812 65 67 62 607s 66 70 5112 5412 57 3914 56 Preferred_______________ _ 57 5978 41 58 1334 1912 17 14 ________________ 14 1134 ________________ 11 9 ________ 10 ____ ____ 512 512 5 Des Moines & Fort Dodge ____ ____ ____ ____ ____ ____ 90 90 Preferred- _______________ __ __ ___ _ ___ _ ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ ____________________ ---- ---9812 9812 Detroit & Mackinac pref____ _ 1734 1414 161? 1512 183-t 15 15 12 111.'.? 151:i 1414 15 1112 12 934 1614 131s 15 61s 1034 7 Duluth South Shore & AtL-- 71s 878 ti 33 3334 29 28 - 26 241., 23 20 2438 211:i 25 21 22 243-t 1912 20 Preferred ________________ 1434 1814 1134 1412 1214 1934 1812 26 3Fq 35-34 2334 31(i 29¾ 327R 307s 36 Erie ______________________ 1434 171s 1212 15Is 12 171s 1334 191s 177s 2358 175s 2334 19 251s 2214 25 4634 513s 3414 411s 3634 4112 3914 461s 4214 4612 437s 50 3234 42 44 33 2934 36 1st preferred _____________ 3114 3534 2534 3134 243s 35 2912 367s 3412 3778 3614 4012 373s 41 31 28 31 24 1914 2514 2312 301 2 2234 30 2d preferred ___ __ _________ 2214 2614 193s 223s 16 25 64 ---- ---- ---- ____ ---- ---- ---- 60 ____ ---- 60 6212 ---- ____ ____ ____ Evansville & Terre Haute---- ---- ---- ---- ---85 _______ _ 85 80 84 ________ 79 S2 85 80 Preferred____ ___________ ____ Great Northern, preferred ___ 1151412534 11334 12178 117 12434 121:>s 12912 12514 1341s 1287s 13414 131 13712 135 140 12514 13912 1297s 1347s 133 1415s 139 14~14 _______ _ Subscription receipts __ ___ 1151412358 114 1183s U8l41233s 12212126 743.i 75 18 70 63 651s 6812 5212 673s 57¾ 63 5112 5934 5534 597R 57~;:, 633g 577s 623s 5814 69 Ore certificates--_________ 4 12 553~ 50 53 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis cex-rJghts RAILROAD AND MISCELLANEOUS STOCKS. 121 1908-Continued. STOCKS January February March .Aprt,, May .June July Auoust September October November December LmD Htgh Low Htgh Low High Low High Low Ht,gh Low High LmD High LmD High LQID Htgh Low High LQID Htgh Low High - - - - -- - - - ---1-- - - - - - - - - - - - - - - - - - - - - - - - - - - - - -- - ----- - - - - -----1---- Green Bay & WesternDeb certfs, Ser A------ __ 71 71 7712 771:. ---- ---- ---- ---- . --- ____ ---84 84 ---Deb certfs, Ser B--------- 8 1314 9 1034 934 12 1012 12 1014 143s 13 14 1112 14 14 16 14 15 14 15 14 16J4 1434 1112 Hocking Valley preferred---- 70 80 70 7012 69 69 69 77 85 85 82 82 ________ 81 841° 83 83 Sb 85 88 8912 90 93 J P Morgan & Co, com rec- 68 75 62 69 6312 73 75 75 7412 90 82 88 85 8814 85 87 - 82 85 85 ~5 90 95 97 10412 JP Morgan & Co, pref rec. 70 70 ---- ---- ---- ---- ---- ---- 79 80:Jg ---- ____________ 801s 801g ________________ ______ __ 89 91 Illinois Central ____________ 123 133 122121283s 124 12834 123 13634 bl29 142 1257s 1353412812142:i4 13512143!213312146 1363-11411 2 1::,91214934 142121495g Subscription receipts------------- ---- ---- -- -- ---- -- -- ---- 1281'.! 13712 1351g 139 140121453s ________________ ---Leased lines stock ________ ---- ---- 90 90 ---- ---- ---- ---- ---- -- -- ---- -- -- ____ ---- ____ ---- ____ 9612 9914 ---- ____ ---- ---~hthts -----------------___ _ ____ ___ _ 334 434 3 41, 312 4 _______________ _ _________________ __ _ Iowa Central ______________ 1038 1314 10 12 11 1258 1214 161g 15 19 16 1734 16 18 17 177s 1678 1878 181? 2634 24¾ 30-1.1 28 a212 Preferred _____ ____ ______ _ 28 31 2712 2914 28 34 3112 363s 3012 3614 32 35 3314 3612 34 36 3434 383, 38 ~ 46 4312 4S:l.1 44;;8 57 Kanawha & Mich Tr receipts- 29 31 29 29 29 29 ________ 39 42 35 35 35 35 36 37 371s 371g 371g 44 431., 47 46 5n K C F S & M, tr ctfs, pref.__ 62 70 597g 66 60 60 60 6312 65 66 _- - 60 62 57 62 58 59 60 ti8 671; 691., 70 7 512 Kansas City Southern ______ 22 2318 18 21 18 2334 22¾ 24 22 26 2312 2434 24 2518 24 26 241., 29 261 8 29 231; 3238 321s 423g Preferred ________________ 51 54 46 51 471g 5514_ 51 5614 55 577g 54 58 54 5712 57 5812 5814 631 2 61 62 61:i4 66 645g 721g Keokuk & Des Moines ______ ------- ---- ---- 8 10 ---33..i 6 ---4 41:? 5 8 5 612 Preferred________________ __ __ ____________ 20 25 25 25 ____ 251,4 26 ____ 27 32 Lake Erie & Western _______ 12 14 12 1512 1312 1512 15 1514 14 1934 _________ _______ 1612 111 2 15 15 16 18 17 25 22 26 Preferred________________ ____ ____ ____ 36 38 34 45 ________ 4212 4212 43 43 45 45 41 431!? 41 56 49 58 Lake Shore & Michigan So __ 330 330 ________ 274 274 _________ ______________ _ Long Island _______________ 33 3434 30 30 30 30 32 40 35 35 ________ 40 40 13 47 38 43 ________ 45 55 50 563g LouisviJle & Nashville ______ 9034 10312 8714 973-1 89 101 971410534 10312113 101 111a4 103 1113g 107 1117g 110141103-t 1031 2 11014 W81 2 12234 11s1212534 Manhattan Elevated-------- 120 13212 120121303-1125 128 120 13434 132 13912 135 139 136 1387s 137 139~s 133141393.: 137 1371 2 138 148 147 15434 Mexican CentraL----------- 1412 2012 16 19 1714 1912 1412 1914 1412 1714 151g 167g 15111 151s 1512 17 1514 1512 15 151.i 1812 18:J~ _______ _ 1'rust Co certfs of deposit-- -____ ---- ---- ---- ____________ 1412 171s 15 17 1412 15-1-1 15 1714 151s 1612 1514 173-1 1612 1814 16i>g 2412 Michigan Central ___________ ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ____ ----- ---- ··--- ----. ____________ 165 165 155 155 Mmneapolis & St Louis_____ :.i4 2614 2034 2412 20 2412 2212 2514 2534 32 2512 2912 2612 2934 28 3014 2612 2914 2812 39:14 3812 52 4712 5612 Preferred________________ 6212 67 61 6412 61 63 63 67 67 691~ 6612 663-1 6412 6612 66 69 63 6634 64 75 77 85 85 90 Minn St P &. S SM__ ______ 7914 947g 8614 96 9334110 1081211434 111 115 108 11334 109 117 116 1245s 116 125 120 126 12234 13:i 128121337g Preferred ________________ 1241213134 12312130 135 13634 ________ 134 13512 1301413612 136 144 1391414912 143 14878 U4 148 1451 2 149 14714 15112 Missouri Kansas & Texas ___ 23 271g 175g 2312 1712 2514 2212 2634 2534 307a 261g 29 267s 3134 303-1 3314 285s 333g 2834 3112 305a 3834 373s 4312 Preferred ________________ 55 5912 46 5514 4612 56 54 597a 5814 635s 5812 623g 59 6412 63 657g 6214 6678 64 661 4 65 711 2 701:! 7512 Missouri Pacific __ _________ 4112 47 2812 435s 297g 43 40 4712 4514 6412 447g 5414 48 56:J4 5412 60 50 583.i 5214 5738 5638 6414 6112 6712 Morris & Essex ____________ 165 170 --- - ---- ---- ---- ________ 180 180 ____ _ ___ ---- ____________________ 184 184 Nashville Chatt & St L _____ 973411414 99 108 105 109 10612110 108 113 110 110 115 115 110 110 109 109 ________ 112 122 1221212212 National RR of Mex. pref ___ 4334 497g 4712 50 49 52 4612 5112 49 503s ________________________ 4958 4958 _______________________ _ Tr Co ctfs of deposit ______ ____ ---- ---- --- - ---- ---- ________ 49 49 51 517s 5014 5014 46 481,i 49 51 50 511 4 501 8 541 2 43 5212 2d oreferred ______________ ________ ---- ____ ---- ____________ 17 17 17 17 _______________________________________________ _ Trust Co certs of deposit. ---- ---- -- -- ---- ---- ---- ---- --- - ------- ____ ---- ---- ____ 171~ 1712 1712 1814 ________ 193g 2514 N Y Cent & Hudson River _ _ 90•s 103 925g 971s 11373 1013-1 9612 101i8 100 1077g 10034 1057a 1031:,i 11014 100 11014 10014 1081 8 103 10678 1051.1, 1131 2 11618 126 NY Chicago & St Louis ____ 2412 3334 2612 31 30 3412 3214 387s 36 407s 37 4112 39 417s 3634 4073 3414 391 2 37 3834 381 2 521 4 49 5712 1st preferred------------- 90 90 85 85 ---____ 100 102 ---- ---- ___ ___ -- ___ . ____ 9~ 98 _______ . 100 105 ___ ____ _ 2d preferred-------------- 647g 70 GO 69 60 6612 65 71 il 75 7334 75 7013 7412 71 74 7112 72 7214 721 4 72 8112 80 85 New York & Harlem ________ ---- ---- ---- ---- ------- ---- - --- ---- ---- ---- --- --- - ___ ---- ____________ 335 335 345 345 N Y New Haven & Hartford . 1283s 13912 1301g 135 132 1347g 132 138 134 14114 134 13812 135 142 140 14434 138 14512 140 1471 4 1471~ 161 156 161 Rhrhts ------------------ 334 5 ---- ____ ---_____________________________________ ______ ________________________ _ N Y Onta.io & Western__ __ 3212 36 291g 3234 293,4 341g 321g 3412 3312 4334 37 4112 39 431,q 411g 44 331 2 431 4 ::i914 4178 40~~ 45 431 2 471 Norfolk & Western _________ 6334 70 58 651g 591 2 651 2 63 G61 4 651s 7234 6634 70~~ 6814 747s 73 7!1-1-t 71 7518 7158 753~ 741 2 861 4 83 857s Preferred ________________ 79 81 ________ 74 793-1 78-'>s 80 ____ ___ ___ ______ 80 80 82 82 8012 81 8(J;;8 821: 85 8738 86 fl8 Northern Pacific------------ 1167g 12912 117 126 12034 1291g 12514 1341s 12912 1387g 133 138a-1 l3ti5s 1423s 1403.s 14631 13034 14638 rns1 2 14514 13934 15734 13712144 Subscription receipts __ ___ 105 112 103 10814 10412 11112 1007g 1205s 1183g 12512 121 125 l2412 129J4 1277g 1337~ 125 13;)3g 129 13638 1351 2 145 137 14312 Pacific Coast Co------------ 80 9312 79 90 75 847g 7112 7634 7514 817s 7814 7934 76 7734 72 7634 65 731 4 6534 75 731-1 8;;:i4 81 86 1st preferred----------------- ---- ---- ---- ________________ 90 90 --- - ---- ____________ _____ ________________________ __ ___ _ _ 2d preferred-------------- 85 97 82 82 79 8212 79 791s 80 89 80 80 __ __ ________ -- · _____________________ ----- 85 87 Pennsylvania ~R-------- ___ 108341177g 10914 113 1115s 11834 11512 12134 118141241 ~ 1191212314 1203s 12n14 1227s 1263.1 1191212578 12118 12714 1251 2 1311 2 1281s 13214 Peoria & Eastern----------- 15 15 14 14 14 18 13 15 16 21 1512 17 15 15 1512 1734 16 16 ________ 191 2 211 8 231g 2912 Pitts Cin Chic & St Louis ___ 59 70 655g 66 65 6912 69 72 70 711 2 72 74 74 7612 71 i6l2 n1 2 78 75 80 81 88 8512 8812 Preferred---------------- 847s 90 ________ 811s 80 87 891~ 88 93 91 98 90 9•112 9:&34 9331 90 94 94 981 4 108~4 10 a4 104 104 Pitts Ft W & Chic, guar ________ ---- 164 16414 ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ _ __________________ _ Railroad Securities, Ill Cent stock trust certificates---- 80 80 ---- ---- 79 79 8014 8014 ________ ---- ____ 83 83 84 9:~ 901 2 9-t ________ 8!l1 2 9'.!1 2 8934 9?. Reading ___________________ 941s 111 921s 1035g 94141077s 1023g 112 10734 11914 1095s 11114 1121s 1221 6 12114 1:103s 1203-113ns 1263 : 13412 1313-1 1411~ 13~8 14314 1st preferred------------- 78 84 80 831s 84 84 80 82 821-1 871 2 801s 8214 82 8:11 2 R4¾ 87 86 ~8 371 4 89 s11 4 893,1 ss1 2 92 2d preferred-------------- 76 8212 7612 7812 761g 801g 80 8134 8134 86I~ 8112 84 8314 8412 84 8812 85 88 86 881~ 86 891~ 88 99 Rensselaer & Saratoga------- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ____ ____ ____ ____ ____ ____ ____________ 194 194 Rock Island Co____________ 1312 1534 1012 1334 11 _ 1512 1334 163g 151g 1912 l 5'lg 1814 151 2 18 1414 19 20 1834 2(lo~ 1951! 241 8 22 251.1 17 Preferred---------------- 2612 3034 2034 267g 22 287g 26 34 31 405s 281g 38 27 343~ 28 3751! 311 3 417s 4018 50 451 2 531~ 5314 6258 Rome Watertown & Ogdens- ---- ---- 115 115 ________ 1141411414 ---____ ll41411414 _____ ___ 1191 3 1191 8 _____ ____ _______ 1241212412 Rutland, preferred---------- 24 28 2512 2512 30 30 30 30 28 2914 27 27 ____ 28 28 25 25 24 251 2 28 28 33 371 4 St Joseph & Grand Island __ ---- ---- ---- ---- 1812 1812 ____ 13 13 15 17 . ___ ---· 171., 131 2 ____ ____ 19 19 1st preferred------------- ---- ---- ---- ---- ---38 42 43 45 ________ '15 - 48 53 5a 50 53 2d preferred-------------- ---- ---- ---- ---- ---21 21 ---22 25 ________ 26 2734 ___ _ St L & San Fran. 1st pref --- 597g 6134 4v 57 48 51 48 48 51 57 42 5434 43 49 531? 531 2 4538 501 2 52 5.5 60 62 62 69 2d preferred-------------- 2714 3014 1914 27 21 2712 2412 2912 2712 34 2112 32 241 2 211 2 20 - 2918 251 4 2ga4 283s 32 30 36 3514 421 4 Chic & E Ill stk tr ctfs ---- ---____ 100 100 ---- ____ 125 125 ________________________________ 149 149 ___ _ Preferred do do - - - - - - - - - - - - - - - - - ___ __- _ - ___ ____ - _ ______ - _- _ ____ ____ ____ ____ ____ ____ ____ ____ : ___ 118 120 ___ _ C & E Ill, new stk tr ctfs-- ---- ---- ---- ---- ---50 51 50 53 49 52 5012 54 60 60 50 60 60 60 57 6634 65 67 St Louis Southwestern _____ 14 1512 11 14 10 1412 1312 147g 131., 177s 16 1634 16 183s 17 183s 16 18 1634 191 8 19 2z;r 21 24 Preferred---------------- 29 3212 2412 301g 2714 34 33 3512 32 - 41 3514 3812 331 4 411 2 381 4 431 8 4134 4458 4458 50 491 8 5434 4\J 5578 Southern vot tr ctfs stpd ext. 91g 1314 914 11 91g 1614 13 153s 145s 1912 1612 1834 1634 191 2 1838 20-;3 1938 23,3 201 4 23 2234 263.i 2334 271 4 Preferred do do -- _____ 297s 37 2112 33 2512 42 36 42 40 471 2 4212 48 44 5Q:.l~ 4734 5134 50 55 51 5418 54 61 5738 631 2 M & 0 stock trust certfs -- 60 60 7712 7712 ________ 70 75 ____ ____ ____ __ _ ____ __ .. 70 70 70 70 ________ 82 82 80 80 Southern Pacific Co--------- 703,4 7812 6614 745s 67 77 723g 81 783g 8934 843g 8812 86 9318 021 2 1075• 9638 1103s 100 1091 2 1011 2 1201~ 11514 1'.<21 ~ Preferred---------------- 1063s 112 108 11112 109 1111 2 11114115 115 12512 118 120 117 120 118 1203~ 116 1201 8 11118 1131 2 118 12314 120121 2.5 Texas & Pacific----------- - 1814 21 1234 1912 127g 1734 1634 1914 1812 26 2134 25 2218 26 241 2 261 4 22 26 24 211_1 :!6!8 33 3 11-1 371 4 Toledo St Louis & Western-- 14 15 12 15 14 1912 1612 185g 1712 21 19 2034 11:118 2318 221 2 211 2 25 313., 301 2 40-14 3912 50 27 26 ~referre~ :--------------- 34 377s 33 351s 3334 4214 40 43 40 46 4312 4434 4:33-1 50 491 4 591 4 55 61 573g 621~ 571 2 65 631s 7313 Umon Pacific - - - - - - - - - - - - - - 11614 1285s 1107g 1233g 11012 129 1235g 13812 1345s 15112 1417s 150 145 15578 1541 8 11wi4 14908 Io87s 1581s 17318 1121 2 18478 17412 1843,i Preferred--------~------- 80 8434 80 83 7912 81 7914 8112 8012 851g 82 8312 821 4 331 2 823.! 861 2 85 90 8634 9358 93a4 98 941 3 !:lt:il!! V!~dalii ~l_a:~~i~~~======== Wabash ----------~------Preferred-------- -------Western Maryland---------Wheeling & Lake Erie-----1st preferred------------~d pre~erred______________ W1sconsm Central •• ------Preferred---------------EXPRESS Adams ------------------American __________________ United States ------------Wells, Farato & Co- -------- ==== ==== ==== ==== ==== 812 15 115g 51g 141s 61-1 1412 36 103g 77g 834 1812 1414 16 13 !, 1134 9 5lg 512 19 14 15 11 6 712 1714 1312 1334 4312 33 36 164 185 190 200 8014 90 167 170 70 -- -- ---- 250 175 185 80 250 63-1 1 3 5 412 13 G 14 36 11~~ 1912 812 712 16 8 151? 3912 165 166 17934180 80 85 257 260 10 17 7 512 1213 7 1414 36 167 190 80 11 197g 734 '14 18 10 17 41 10 1812 6 61g 1212 834 161g 3912 1414 29 16 1014 2i-12 1314 1912 4312 167 165 168 190 190 224 80 ____ ____________ 11 2134 9 512 13 8 15 3812 ==== ==== ==== ==== ===~ _85 __8_5__ 125g 2512 11a~ 834 15 10 17i'g 417s 1031 22 101 2 61? 15 8 1678 3912 Ulo 287p 131~ 105s 213~ 12 213~ 44 12 25 111 2 9 1514 101 2 211 8 41 14 20.18 1414 1014 2FlJ rn1 1 27 451~ ________ ,173 180 200 200 1 5 19u 19934 205 195 210 _______ _ 78 78 81 85 250 250 ________________ lll'.! 24 10 8 l.'>1 4 81 2 24 4334 131g 2778 13 91q 17 11 291., 511 2 l~g1218 1~:131~ ==== ~==~ ~~~~217512 1234 15-~~ 15 20)8 251 8 12 814 16 31 4 26 4534 2q3g 141J O 18 1034 287x 541_1 28 12 9 18 10 28 5112 ---·· ________ ____ 190 1351 2 200 199 200 197 ________ 80 88 85 290 205 300 300 302 36¾ 151., ll3~ 241J 15-14 313~ 64 190 200 90 325 35 13 ll)lg 201s 1z 293-1 60 190 202 88 310 5234 24 Ia 2614 151., <!814 7213 190 202!-t 90 310 COAL AND MINING Prices of minino stocks of par value of $25 or less are do!Lars per share, others p. c. Par. Alice Mining ______________ 5 3 312 Amalgamated Copper ---100 457g 5334 American Coal _--------- .25 ---- ____ Anaconda Copper ------25 281g 34 Balaklala Coover---------10 17s 414 Batopilas Mining __ ------20 212 37g Central Coal & Coke---- .100 ---- -- -Colorado Fuel & Iron---_ 100 19 2212 Preferred -------------100 ________ Columb & Hock Coal & Irl00 1512 1714 Comstock Tunnel------- ---2 21c. 30c 1st income 4s ____________ ---- ---Consolidation Coal-------100 00 90 Granby Cons Min Sm & P-100 7834 92 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 114 3 451s 5214 2 212 23g 25R 23s 258 212 3 i!78 31 2 234 3 23ii 2-'ig 2as 31 2 21 4 2a4 23g 3 4934 623 565g 621g 5914 6934 6434 6812 65n8 7778 7434 83n8 6878 8P8 72 s018 7958 883s 7534 8512 120 ____ ____ ____ ____ _ _ __ ____ __ __ ___ _ ___ _ ____ _ ___ __ _ _ _ ___ _ _____ -- ___ _ 3334 32 4034 3614 393s 3714 4614 4014 4414 41111 481s 45 5012 39~s 4834 4112 463i 46 531? 4514 5U7g 25s _______________________________________________________________________________ _ 314 25g 5 35g 41g 3 378 234 312 21 2 sas 314 4 234 334 234 35~ 212 314 · 'S 334 ---- 60 60 ---- ____ 70 70 ---- ___________ _ ____________________________ -- - ---- ---20 16 247s 227g 2534 24 3134 253s 291g 26'>s 337~ 32 381s 303g 3778 33.34 3734 3614 407s 3612 42 40 ________ 4914 4914 35 50 ____ 50 50 60 60 ____ 65 65 6514 75 1212 7212 1612 1434 21 1714 1912 1734 24 20 23 2012 2314 ZO-Js 231g 20 217s 19 20-1.i 1934 25 2412 2712 27c. 20c. 26c. 20c. 44c 35c. 40c. 30c 35c. 21c . 32c. 22c . 25c 20c. 25c. 22c 33c. 28c. 35c. 25c. 32c. 20 20 18 1912 ________________________ .. __ ____ ____ 1G 16 ---- 90 90 8912 8912 8712 8712 90 90 __ ________________ __ ________ ---- ---- ---8912 85 9812 90 9412 92 92 92 105 991is 10912 1001s 1071:? -10012105 101 1041~ l:1934 109 10:; 107 ---- ---- ---- ____4 120 2712 2 234 ---- 155g 40 15 25c . ---- 8912 b ex-right· 122 MISCELLANEOUS STOCKS. 190~-Continued. Novfrmber December Oelober Septfrmber Au!JU,St July June May AprU March. January February __H_tu_h Low Htoh Low Htgh Low Htgh Low Htflh Low Ht,gh Low Hioh Low Hi(}h Low Htoh Low High Low Hioh Low Higle _L_ow STOCKl;j _____________ 1 Homestake Mining ------100 Horn Silver Mining ____ ___25 Iron Silver Mining ______ ____ New Central Coa'---------20 Newhouse Mines & Sm - - - -10 Ontario Silver Mining -- _100 Pitts Coal of New Jersey -100 Preferred -------------100 Quicksilver Mining ------100 Preferred -------------100 Standard Mining ---------10 Tennessee Copper --------25 Copper-------------10 Utah ________ ____ __ __ __ Rights Virginia Ir Coal &· Coke - 100 67 72 7272 70 7312 7312 74 7412 75 74 76 76 92 85 92 85 ~ 88 92 951 951 961.i, 4 ---- ---- ---- ---- ---- ---- ________ ---- ____________________________ 70c. 70c. ____ ---· ________2 65c. 65c. ---- ____ ---- ____ 112 112 _______________________________________ ____ ____________________________ _ 50 50 50 ____ 50 45 ____________ 40 35 30 30 30 ---63g 634 814 87s 7 97s 7 3 314 3 412 ---- ---2 93g 812 10 912 9 913 103s 38 377g 42 427g 3612 40 40 12 ---- ____ ---- ____ ---112 134 112 134 1.5212 114 114 112 112 4234 3612 3212 2512 3012 26 26 247s 3412 29 2712 2314 27 20 ____ ____ 43 5312 1 2 45 3 ____ ____ ________ 4 47 49 51 45 71 2 51 4 127g 443.i ____ ____ ____ 40 401 ____ ____ ____ __ _ _ ____ - ·· _ _2 521 2 5112 60 48 56 48 7 712 412 434 1134 11 4212 41 5g ____ ____ 134 423g 3512 327s 2814 5J 71 4 5 5 8 4 55s 5 6 135 111 143g 2 8 111 2 421 4 43 4712 42 ____ ____ ____ ____ ____ ____ 1.81 1.85 3914 3514 3708 35 3012 341 2 331g 33 438 41 8 101 2 40 ____ ____ 2 40311 40 46=38 401 2 ____ _ ___ ____ ___ _ _ _ __ 561 2 59 651 2 56 59 6 4 1114 43 ____ ____ 2 361 2 3934 738 5 J3 48 ____ ____ 2.10 401g 451 2 51g 4 10111 39 ____ ____ 2 3f)34 37 634 41~ 111i 431 ____4 _____ 2 41 2 318 101 2 44 ____ ____ 2 431 2 4'! 44a4 421 4 _ __ _ ____ 558 41g 111 4 4034 ____ ____ 2 62 62 514 71 8 31 4 5 1234 14 4931) 4734 3 ____ 33g4 ____ 1.90 2 521 4 431 2 5234 431g _ _ __ _ ___ 68 514 378 145s 50 13,1 31 2 1 90 451 4 495g _ __ _ 521 4 65 VARIOUS 111 2 1014 121 8 1118 14,_. 141 2 153g 10 12 11 113g 1078 12 9 814 97s 71s 914 812 5 614 6 67s Allis-Chalmers------------- 6 481g 5234 3914 50 40 351 2 32 363g 30 34 36 2112 185s 212 2014 257s 2434 347g :;3 1613 1814 14 Preferred-- -------------- 19 22 311 4 3• 291 2 2318 35 24111 2534 251 2 291? 27 2012 247s 2334 26 22 1812 1634 2114 18 1834 17 16 American Aiuicultural Chem - 13 18 941 9ti 91 92 901? Preferred------- --------- 7812 8412 8012 8012 ---- ____ 8212 86 85 86 86 87 87 94511 92 921 2 91 9534 2 9534 233.i 1914 2234 20 201 2 1758 22 2178 193.1 221 2 17 2012 18 2212 17 1014 1314 1114 247g 17 912 11 American Beet Sugar________ 10 13 8134 7619 80 76 80 o 771g 771s ____ 78 75 1212 75 Preferred------ ---------- 65 65 65 65 1014 s1 2 913 7 534 7;ig 51 4 6 55g 67s 4a4 6¾ 412 5 47s 514 434 53g 412 5 5 American Can-_ - _____ _____ _ 414 512 4 767s 72 751 68 591 60 621? 1>,1 62 60 5434 62 5414 5634 5314 57 ,. Preferred-------- -------- 44 523g 4434 50 457s 511g 4912 56 2 8 8 4734 4514 5034 42 43 411_1 39 401 4 3918 421 4 36 34 American Car & Foundry____ 29 14 323g 2512 30 2612 3334 31 3614 3414 383s 33 38 Preferred - - - -- - - - - - - - - - - _ 88 9034 843-1. 89 84 14 9312 9212 9612 93 98 96 9812 98 104 102 103~8 1021 8 105 1011 2 10314 io:.nd08 107 109 American Cotton Oil- - - - - - - _ 2934 345s 2434 327s 2514 2914 265s 2912 2834 32 301s 3134 303g 3434 3312 363,o 323.1 36 3414 :m 2 35 4434 4014 4318 931 2 9634 9234 97 93 92 9012 IJ2 90 90 90 88 85 82 Preferred--------------- - 80 80 834 734 1038 ___ _ 7 71., 758 734 87g 8 7 714 814 534 912 412 412 6 American Grass Twine------ 37g 41? 4 55g 31 2 51 43 41 41 5 4 41 41 41 4 33 312 41s 312 412 31s 312 27s 33g 234 31;; 31g _ _ American Hide & Leather_ 4 6 4 2 2 4 8 4 2934 231 2 373" 24 251 4 231 8 25 20 23 21 21 18 18 2012 18 1212 1612 1512 1912 18 Preferred - - - - - - - - - - - - - - - - 131s 153.i 13 14 273g 21 28 24 273 21 291 231 317 275 283 2e1., 287g 2512 291 2112 255s American Ice Securities----- 157s 1973 1212 177s 1313 2134 1912 2 8 4 2 8 4 8 111 2 101 2 111 4 1514 14 9 - 101 2 103s 131 2 101 8 1114 10 1134 87s 1012 1012 9 7 57s 77s American Linseed------- --- 71s 83g 614 7 361" 30 32 30 24 24 24 231 26 23 2212 2612 1812 2112 20 20 1834 1834 23 1812 1812 17 Preferred------------- --- 1912 22 2 5358 5878 American Locomotive-__ ____ 3434 4134 313g 3734 32 48 4214 483s 461s 523s 407s 511 2 471 4 561 4 5334 595a 44 57li: 4534 5018 50 50 9014 9012 9434 9114 10014 100 10312 100 103 10012 106 106 109 10012 107 104 1061 2 10612 11018 1001 2 113 86 Preferred - -·- - - - - - - - - - - - - - 8512 92 71 2 734 5 7 734 8 734 85g 8 412 712 7 534 5 6 5 57g 57g 634 3 American Malt Corporation-- 312 434 ---45 461 2 41 4938 44 5118 45 45 Preferred--------- ------- 21 321s 251s 251s 257s 3412 29 33 295s 33 2912 32 311 2 38 38 46 821 8 so18 821.1 s214 8418 7934 84 8378 7958 841 8 79 7934 78 8214 78 7812 78 76 American Smelt Sec, pref B- _ 70 8034 73 80 7412 78 991 4 831 2 943.1 9134 9318 7634 941 2 79 American Smelt & Refining__ 625s 7914 5512 6814 58 745g 66 7234 6914 785g 73 7714 76 9014 8858 107 Preferred---------------- 89 14 96 8734 9112 90 98 941g 97 9534101 977s 1007s 100 108 106 1103~ 100 10914 10234 10518 10514 1091 2 98 10734 ___ . --·· - 180 180 180 185 19014200 200 200 _____ · -____ 200 200 American Snuff ____________ ---971 2 96 931 2 97 971 2 ____ 95 95 ____ 95 9012 9012 92 92 96 88 Preferred----------- ----- 85 85 81 81 80 81 10 11 2 71 2 9 9 9 9 8 318 67s 71 2 8 67s 7 514 614 512 6 412 512 American Steel Foundries-___ 534 7 471 2 471 2 421 2 4258 ____ 41 41 40 40 43 38 35 35 3414 35 34 3134 31 261s 3012 30 Preferred---------------- 29 34 385s 4014 301 2 41 2912 31 ---- ---- ____ ---- ____ ---- _________ ___ 32 3714 28 32 New stock _______________ ---- ---\I - --· ________________ • __________ _ 8 734 814 712 6 65g 6 53s 634 5 14 57g Tr Co ctfs deposit- -- -- --- ---- ____ 412 6 _ ___ 3512---33 41 363 3734 341s 3312 32 33 317s 30 273g 3012 30 PrefTrCoctfsdeposit- ------4 American Sugar Refining Co- 9834 115 10712 1147s 112 128 123 129 12612 1321g 12112 13012 12513 13312 1311213734 i26lg 137 1291 2 13414 1313,: 137ll' 1253s 13318 Preferred---------- ------ 108 1141s 105 113 114 1193412012123 123 12514 1241g 125 123 12834 1261 2 120 125 127 126 129 1285g 131 129 131 751 2 7712 78 72 71 71 70 68 6412---64 65 6012 65 58 50 50 533.i 54 ArnericanTel . &CableCo---- 53 ·53 American Telep. & Teleg Co- _ 101 no 105 10612 1063.1112 1101.2120 117 1187s 116 1201s 11512 1223g 121121273s 1253g 13134 12614 12812 1267a 13258 12634 12918 971,i 9034 9534 947& 91 951 2 93 American Tobacco (new) pref 7212 8178 77 8013 77 8512 85 92 90 9212 8812 9112 90 9714 \1112 96 91 317s 27f>s 323g 24 2434 2314 2634 2312 2434 2134 24 22 201a 24 1934 24 American Woolen Co-_______ 1534 2012 1512 1914 16 2112 1814 21 9412 8534 911 2 97 92 9234 91 91 Preferred _ - __ _____ __ _ ____ 8412 8612 7814 8414 7914 8414 8314 85 8414 901s 734 89 877s 9314 9214 94 ____ 100 100 ____ Associated Merchants' 1st pf---251 8 2114 21 22 23 233.1 20 1912 2434 18 133g 1512 1312 1634 1314 1534 141,1 21 14 12 1312 14 Bethlehem Steel Corporation - 12 16 56 5.L 57 49 4.51 2 49 461 2 52 497& 5;; 50 44 40 • 44 Preferred- --------------- 3512 40 3 12 3912 3512 3512 35 38 391s 44 .551 4 461 2 503s 481 2 561~ 5473 6934 441s 5014 4712 5314 5012 5712 44 Brooklyn R.apid Transit----- 383g 4712 3714 4673 3934 48 441g 483s 457s 54 ____ 112 112 115 136 128 ms 13434 146 13814 140 137 15214 146 151 BrooklynUnionGas -------- 90 96 85 94 89 109 110 110 1358 165s 141 4 1314 17 131~ 12 1012 1134 1112 1234 12 1134 ____ 9 934 8 77s 8 7 6 7 Brunswick Dock & C Impt- - 6 2358 2118 2218 2138 1858 2178 21 2234 19 203.i 19 19 21 20 24 18 1Butterick Co--------- ------ 20 25 121a 15 18 1812 1612 23 Central Leather - - - - __ - - - _ _ _ 161g 1912 1512 1812 167g 20f>s 193g 251 8 231 2 211 2 2312 261 2 25 291 4 273 1 J0."!g 233-1 291 4 241 2 263s 2418 3033 2734 33 941i, 96ls 97 1011 4 991s 102 99 03 951 2 9234 955g 9318 9712 9612 91:! 92 91 8212 877e 87 7812 84 Preferred _ __ _____ ______ _ _ 7534 86 ____________ 107 107 ________ J'J7 1081 2 ---- ____ ---- ____ 100 100 105 105 ________ 101 10712 Cent & South Amer Teleg ____ ---______________________ .. ___________________________ _ 21 4 114 17s 2 2 ---- ____ ---- ____ Chicago Union Traction--- -- 2 __________________________ _________________________ _ _______________________ _ Preferred----- ----------- 1212 1212 21 2 21 2 21~ 41 2 41 8 71g 21 2 3 3s8 3 316 31g 334 3 114 4 sa 3 212 1 234 212 3 Trust Co ctfs deposit-_ ____ 2 1058 1334 1218 1 12 12as 10 11 13 11 93. 13 11 9 143 7 9 4 6 6 6 6 Pref Trust Co ctfs deposit -_ 10 10 72 72 ---- ---- ____ ____ ____4 ____ ____ ____1 ____ ____ __ __ ____ Connecticut RY & Ltir pref__ ---Consolidated Gas- - -- - - - - - - - 06 10534 97 103 96 11714 11212 123 ll9 129 12112126 124 14114 134 1473~ 136 15412 1:.19 14834 1421 2 16714 15734 167 161 2oa 18 1s1~ 171 193 17 201 185 19bs l61 171s 1534 181 1412 153g 127g 1434 1114 1312 1034 1',;34 107s _ _ Corn Products Refining __ 4 1878 8 2 4 8 2 4 8 74~8 731 8 7814 7112 76 7734 73 73 80 7314 6712 703s 6934 7512 76 7012 68 6S 5714 66 63 57 Preferred-------- -------- 56 66 4934 49 Crex CarpeL- -------------- ---- ---- ---- ---- ---- ---- ---- ____________ ---- ___________ _ ________________ 4712 4814 48 48 ,5334 55 56 45 391z 45 38 38 39 39 42 39 4'3 35 3:;14 38 Detroit United RY-- -------- 38 3814 33 33 ---- ____ 3212 33 383 341 351 303g 32 293 a53 28 331 351g 371 335 353 33 373 22 345 3014 35 283g 33 2714 35 2914 _ Corp___ Distillers' Securities 8 4 4 4 4 8 4 4 2 4 8 7219 90 _______ _ 80 7!Jl2 791~ 80 94 88 7934 7934 7512 80 80 80 80 80 Federal Mining & Smelting __ ---- ---- ---- ____ ---8014. 8614 8434 841 2 89 8412 83 8834 78 84 85 7712 80 7234 6912 7612 71 70 Preferred _- __ - ___ - ___ - - - - 64 6914 59 66 66 74 it2 g~12 g~ i: 9314 9534 ---- - ·-- -90- _9_0_ ---- ---g~l4lg~ Fet::f~r:e•:e~-~~~i~~~====== -75- -85- -7312 -861; --5- -87- -89- -90- -89- -906014 6014 .52 ____ 52 ___ _ ____ 65 65 General ChemicaL--- ------- ---- ---- 50 50 55 58 60 60 99 99 97 97 95 95 98 921g 921g 96 9912 97 Preferred ___ _____ ___ __ __ _ _- - - _- __ ____ ____ ____ ____ 90 90 89 90 137 1451 2 144 16034 1551216234 General Electric------------ lll 125 113 119 ll41212 14 12812136 13212 l42 1307s 13 34 130•214812 142 148 1341214 40 34 35 327s 3112 3412 3112 323p 32 26 23 23 23 ____ 217g 217s 23 Havana Electric--- --------- ---- ---- ________ 20 20 84 84 80 O 8014 80 797g 791s 77 7 4 _ _ _ _ _ _ _ _ 77 74 74 70 Preferred ___ ____ __ __ ____ _ 70 70 _ _ _ _ _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ 5112 5112 ________________________ 697s 70 _______________________________ _ Ingersoll-Rand ------------ ---- _______ _____ 50 50 8412 8412 ___ _ ____ 80 80 84 84 Preferred______ __________ 20 151 2 14 10 121 1 93~ 11 1118 131 2 10 12 19 73g 1112 934 123g 101g 1212 11 Interboro-Met vot trust ctfs- - 634 87s r7g 834 67g Preferred ________________ 1814 2314 171g ~212 1112 2134 20 30 2714 3312 2714 3334 2914 32J4 31 3 l,i 297s 35 2778 3234 2914 371 4 3412 4912 66 5312 67"8 62 56 54 57 55';12 57 5912 5912 56 International Harvester- ----- ---- ---- ________ ---- ____________________ 5.:: 60 Preferred-- -------------- ---- ____________ ---- ____________________ 99 10112 1013.i 1053s 103121061g 103 105 103 105 104 11014 10834 llO 712 87g 7s 61 2 61g 6 73g 7 7 2 734 8 7 714 8 712 9 ____ ____ ____ 7 lnternat Mercan Mar stk tr ctf ____ 211.1 267s 18% 2012 1 7g 24 1912 23 23 221!! 20 2334 2014 2314 20 1834 201s 20 21 1614 18 16 Preferred---- ------------ 1612 18 1314 1112 127s 834 1012 812 1012 10 107~ lOlg ll~s 10 91-1 11 91s lllg 1012 8 International Paper---- ----- Bis 1214 9 107s 85s 10 561g 5812 533.i 531g 60 5912 5014 5 7g 47 5212 585s 56 547g 58 60 53 5 12 5234 56 6112 53 57 Preferred-- ________ ______ 52 65 30 _ ___________ 30 311.s ____ 3214 31 29 International Power-- ------ ---- ---- ________ 35 35 International Stearn PumP- -- 13 2114 1714 2014 19 26 217s 2S.-:J 2134 245g 2214 2434 2~14. 241s 227s 2712 20 25•s 23 3034 ::!912 341~ 301!3 397s "823, 791 2 8278 797s 8414 31'.' 70 78 81 761<> 805s 77 Preferred ________________ 65 731g 65 6758 675s 743g 70 7114 69 7434 7312 77 70 ~ 70 ---- ____ ---- ____ ---- ____________ ---- ---Laclede Gas, preferred------ ---- ---- ________ ---- ____ 60 7412 ---76 74 731g 78 75 691~ 68 1014 67 66 70 64 66 65 66 6234 62 57 5534 57 55 52 Mackay Companies--- ------ 55 60 71 6734 6934 6712 701s 683s 7014 697s 7134 69 69 65 66l2 6334 6734 6412 66 62 5978 6212 6112 64 Preferred__ ______________ 61 64 21g 2Js Manhattan Beach Co-------- 214 214 ________ ---- ____________________ ---- ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ __ 441., 30 34 28 28 28 30 25 43 30 30 2 ' 34 29 25 30 24 35 25 17 205s 16 15 Metropolitan Street RY-_____ 20 25 8778 921:? 8912 97 ~ 90 8714 8934 87 835s 851g 8434 91a4 8812 92 88 8634 84 821 2 78 761 4 75 72 National Biscuit-- ---------- 68 76 Preferred _______ _________ 102 10612 107 1071 2 110 11312 1151 2 116 115 116 1145g 114f>s 116 120 116 120 1173411734 11612118 1111211914 1173412012 912 101'.' 103.1 1212 1112 1514 91s 105s 121s 10 912 11 1Jl4 10 91s 1034 914 11 712 71 2 814 10 934 Nat Enameling & Stamping__ 8 8214 811i, 82 7618 76 77~8 76 77 77 73 77 7714 7714 77 76 75 75 74 Preferred ________________ 75 80 841s 8612 75 8512 82 61~ 79 74 727s 92 5334 601 2 575s 68f>8 6312 683s 643,i 73 National Lead Co----------- 38 4212 36 455s 44 60 9612 10034 9834 99's 991210414 102 10;; lOF•s 10212 10214 104 104 1061.1 104 106 97 8812 9612 95 91 89 Preferred ___ ____ __ __ __ ___ 8712 91 9612 87 1012 7914 771s 98 8314 6712 82 74 6814 66's 80 7212 65 6912 6412 7312 66 56 62 56 New York Air Brake-_______ 50 72 1g 114 ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ------- ---- ---- ---Rights---------------- -- ------- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- -- · - ---- ---- ---- ---- --- · ---- ---30 28 New York Dock---------- -- 70 747s 747s ___ _ 74 ____ ____ ____ 74 73 7014 701 ~ ;3 71 Preferred ________________ == -~~Nl~t~ ~~e~~~~~~~====== Co, new stock North Arner•can Pacific Mai! Steamship ______ People's Gas-Lt & Coke. Chic Pressed Steel Car----------Preferred _ ______ ____ __ ___ PullmanCo(The) ___________ Rail way Steel-Sprinir- _ ____ _ Preferred---------------Republic Iron & Steel-______ Preferred ________________ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis :0.1~~ fi-412 43 '.?534 291 2 89 80 1912 2312 80 69 L47 160 2934 25 80 75 !if 16 6614 711 2 : ~~s 1_1_4~~ ::~- 1_1_6~~ 99 10018 105 10s 105 1_0_5__ ~~~- 1_0_9__ =~~~21_1_2_1~ go 100 6634 615s 663g 5912 645s 633g 60 58 64 5912 57 421g 4 14 ·213 5338 50 241? 2634 241.2 2712 2414 ?612 24½ 2814 32 291 2 25 331 2 24 281 4 26 25 9612 9418 973~ 931s 971:? 8612 534 9034 881!! 9234 8912 9334 91 - 9214 92 84 361::! 2812 35:18 2512 2914 281s 34:14 33 3034 2612 31 1714 207s 193g 2512 23 9714 9234 96 9514 95 5 84 82 87 84 86 811 2 76 71 697g 78 149 15014150 154 151 16112157 1597gl55141591215814l68l2 165 1661'.>1601216.5 441.i 3 34 361 8 451 2 4112 463s 34 2334 251 2 25:Js 361 4 321 2 371 2 341 2 3958 36 951s 9912100 100 100 l~Ols 95 95 91 ________________ 85 201s 163g 1934 175& 2H>g 203.: 25¾ 201s 243g 17 1614 19 1514 20 1434 17 2 7112 663g 7414 735s 8212 75 63 72 7134 66 34 75 65 68 65 ::~- 1_1_1__ ::~- 1_2_2__ 6212 6614 6534 78 2434 2612 261s 3312 941.2 9612 95 102 311,i 3414 :l35s 41 993d 95 95 IJ2 162 16534169 174 4012 461d 363-1 41 9612101 98 97 245s 2413 29 21 817s 8114 8912 78 11~1/11 715g 7712 4014 3a 997s 10612 3814 45 9712 l0214 ]614173 4234 4914 100 103 273g 24 85 14 873g MISCELLANEOUS STOCKS-BOSTON BONDS. 123 1908-Coocluded. STOCKS JanU,(LTY February September 0,;J,ober November Decemher AU(JUSt M'T.y July AprU June March Low Hv;h Low H'L(Jh Low Hv;h Low Htgh Low Htoh Low Htoh Low High Low High Low Htgh Low Htgh Low Ht ,h Low Ht.,h -- Sears-Roebuck, preferred---- -Sloss-Sheffield Steel & Iron-- 36 42 Preferred - - - - - - - - - - - - - - - - 8712 92 Texas Pacific Land Trust---- 52 58 Third Avenue- -- --- - - - - - - - - 18 2234 Toledo Railways & Light---- 912 1314 Twin City Rapid Transit----- 8412 8914 Preferred - - - - - - - _- - - _- - - - !20 124 Union Bag & Paper _________ 412 5 Preferred - _- _- ___________ 4473 50 United Chrar Mfrs, preL ___ 80 84 United Rys Inv of San Fran-- 15 2112 Preferred---------------- 2712 381g U S Cast-Iron Pipe & FdrY-- 19 211g Preferred -- - - - - - - - -- - - - - - 565g 69 u S Leather preferred- - - - - - 95 100 US Realty & Improvement-- 37 4212 US Reduction & Refining ___ 512 7 Preferred---------------- 18 2014 US Rubber Co------------- 20 26 1st preferred- _________ -- _ 77 8812 2d preferred-- - -- - _ ---- - - - 4612 6114 U S Steel Corporation- __ - - - - 2534 3114 Preferred - - - - - _ - - - - - - - - - - 8712 953g Virginia-Carolina CbemicaL- - 17 1814 Preferred- ___ ____________ 87 91 Vulcan Detinoing_ - __ -- - - - -- .. --- ---Preferred - - ___ - ___ - ______ ---- ---Western Union Telegraph ____ 54 60 West'house El & Mfg, assent'g 41 521g 1st preferred-- -- ______ - __ 70 77 - - - - ---- ------- ---- ---- ------42 48 43 52 41 38 90 45 1714 914 7814 ---- 4 47 82 15 34 1712 631s 95 3614 4 16 1734 76 42 2612 891g 16 87 92 5012 22 1012 8412 9112 49 1512 9 8212 50 83 20 3712 20 68 96 3934 434 18 22 81 50 2914 9334 1712 90 6 51 55 81 85 187g 16 337s 373g 1834 2712 633g 7114 95 95 •11 38 612 9 19 25 233g 18 77 86 45 56 2814 3614 9214100 1612 205g 8934 9414 3 3 93 59 20 10 85 ---43g- ------4 ---- ------- ---- ------41 5534 4634 5434 3912 43s8 38 7U 70 58 58 80 8612 90 4434 5214 95 8 8934 92 60 57 60 58 347g 30 1834 39 87g 10 934 1514 8734 8614 9214 84 ---- ---65g_ 1235 123612 6 561g 58 57 55 ---- 88 90 24 2412 21 16 39 43 34 417s 245g 29 235g 26 72 76 72 68 9712 £8 98 101 523g 41 40 40 814 1314 9 7 2214 333g 22 20 1812 2212 2012 265g 8214 95 85 80 61 51 49 54 351g 393g 325g 37 973g 10134 100 10334 1914 2134 201g 2534 9012 9312 94 10012 31g 31s ---- ---28 25 5012 611/1 4834 54 -778 4312 58 46 72 64 77 68 90 91 91 49 5112 53 9512 9612 9612 5 29-'.lg 3434 2!Jlg 912 10 9 89 9112 89 61g 5 57 57 917g 92 2014 24 353g 40 1912 2734 6412 7434 1041410414 4534 50 10 9 2212 23 24 26 9014 94 60 58 3614 391g 10034 103 2214 2512 991210114 414 414 \JO 63l4 99 60 33 7g 1014 9214 ---- ---- ---92 92 9012 9012 --- 6514 6014 7234 6012 6514 59 100 10212 6412 7212 3212 47 83s 10 88 9114 103 103 697g 7212 39;;8 47 812 8 90 85 l}:;g 8 534 77['_ 73s \) 613( 60 64 5534 5914 59 93 93 2134 24 23 20 2012 22 42 3934 <5bl4 393g 38 36 21 2534 247s 2858 2312 2634 73 7234 787g 71 6578 n 102 10414 115 115 ---51 49 4934 52 52 46 14 9 1514 9 11 12 27 2.5 39 2514 325g 33 371 2 287g 35 243g 31 31 93 993s 9712 10234 9514 101 61 74 73 63 70 65 4Vg 481~ 48 3734 457g 44 102341091g 10678 112, 2 105:s 1121s 237g 263~ 25 2714 30 30 903410212 10312110 107 1097g - --- ---- 512 512 ---- ---- 5112 577g 5412 5734 ,5412 5814 551:_, 62 8012 6612 79 44 5712 5312 8112 65 95 88 95 92 98 7\J 80 65 10214108 - - -27 40¾ 612 87g 8834 9112 9319 97711, 723g 8134 107 1091.1 70 76 2412 3814 814 1112 90 9512 ---- ---- --- - 761g 793.,t 110 11014 8412 76 43 31 812 15\£ 94 9633 ---- - --- ---- 95g 834 958 7 8 12 8 6014 61 59 6634 6414 6612 96 95 98 98 97 91 ~('I 34 24 33 3434 31 50 43 5912 47 !! 4\H2 47 233.,t 26 2512 30l4 271? 307g 72 70 7134 761~ 7434 7712 114 118 11312 115 ll 5 1:lO 5534 543~ 64 51 5734 6334 87g 10 10 14 1412 13 2913 32 28 28 24 35 351g 3214 3714 :n34 3i 30 99 10},14 9912107 105 lOS 691:, 70 7512 7512 72 68 45 48% 4712 583~ 5114 5614 1073~ 111 11034 1145g li0l21135s 3018 341g 32 4214 4534 45 10834112 11012115 1131g 115 912 ---- --- - 712 1012 8 503g 4814 5012 35 5814 61 591! 7134 653g l1 8212 94 7112 84 8334 9112 98 100 10012125 115 120 PRICES OF STOCKS AND BONDS IN BOSTON, PHILADELPHIA, BALTIMORE AND CHICAGO. Below we give the highest and lowest prices of bonds and stocks at the Stock Exchanges in Boston, Philadelphia, Baltimore and Chicago for each month of 1908. Actual sales form the basis of the compilations in all cases. BOSTON BONDS IN 1908. BONDS. Januar11 February March AprU May June July Augwt StpU:mlJer October November Dumiber Low~~~Low~~~~~~~~~~~Low~~~Low~~~ -- - - ---- ---- ---- ---- ---- ---- ---- ---- -----1-----1---------------, Amer Bell Telephone, 1908--4 9813 993g 9913 995g 991z 997s 997s 100 100 100 100 100 ___________________ _ Amer Telep & Teleg, 1929- _ -4 Convertible, 1936--------4 Installment receipts----American Tobacco, 1944 ____ 6 1951_ __________________ -4 American Writing Paper ____ 5 Arizona Comml Cop 1st conv 6 Atch Topeka & Santa FeOeneral, 1995 ____________ 4 Adjustment, 1995 ________ 4 10-yearcoov, irold, 1917 ___ 5 Convertible gold, 1955 ___ -4 8738 885g 89 88 8134 8634 85 8712 87 7812 8114 7912 807g 787g 803s 7914 83 ---- ---- ---- 81 813s 807s 863s 8412 8614 831s 8514 833s 883g 88 923s 91 -------------- ____ ---- ---- ---- ---- ------- ____ ---- ____ ------- ---- · ---- ---- ------- t7834 t7834 ---- ---- ____ ________ t106 t106 ___ _ 717g 717g ---___________ _ _______________________ _ ---- 112 965s 99 t975g f975s ________________ ________ t00l2t00l2 ____ t897s f90 ____ ---- ---- ____ ---· ____ ____ ____ 961g 85 t9634 ---Boston & Lowell, 1913 _____ 4 97 9634 t985g 963g t97 98 9914 97 85 ---- ---- ---- ---- t865s t87 t97 t9614 977s 955s t971s 101 101 1932--------------------4 ____ & Maine, 1944----4½ ---Boston Brooklyn Rapid Tran, conv-4 t667s Burlinl?ton & Missouri RivRegistered, 1918- ----- ---6 ____ Sinking fund, 1910 _______ 4 __ --- ---- 98 ---- ---· ---____ -____ ____ ---____ ---____ ____ ____ ---____ ---- 97 t681s t725g f725s t68 t695~ t697a t70 ---- 102 Cedar Rap & Mo Riv lsL--7 Central Leather, 1925 ______ 5 Central Vermont, lst ______ -4 Chicago Burl & QuincyDeben ture, 1913 _________ 5 Denver Ext, 1922 _______ -4 Illinois Division, 1949 ___ 3 ½ Registered ----------3½ Illinois Division, 1949 ____ -4 Iowa Division, 1919 ______ 5 ____ ---86 Chic ~Ul & St P-Dub Div--6 Chicago & Nor Mich, 1931_ __ 5 Chicago R I & Pacific, 1913-5 Chicago & West Michigan ___ 5 Coos SS Lines, ctfs for col tr 4 Det Or Rap & West, 1946--4 Dominion Coal, 1st 1940 ___ 5 Erie gen lien, 1996----- ----4 Fitchburg-192'7 _________ -4 Fremont & Elkhom--------6 ---------97 ------90 ---------- for subscription, 10-year--5 Coov debentures, 1917 ____ 5 Oreat Northero-C B & Q, coll4 Registered ______________ 4 Illinois Steel-1910 ________ 5 Non- convertible, 1913 _____ 5 ---- ____________________________________________ tI0812 f09 tl0812 tl7 t113 t1712 117 t122 fl1714tll9 1187s t277s 9512 97 9512 921 2 945s 9314 t951 2 9414 951 2 9414 97 93 9512 9512 953s 955s 94 9312 9318 9438 94 9214 953s 93 99 9818 9818 9814 ________ 99 981 2 99 ________ 98 99 9712 9812 98 98 9612 9612 9714 97 95 97 95 ________ 977s 977s f561s t563g t577g t58 ___________________ _ ________________________________ 1001s 10014 ___________ _ ---- ---- ________ ---- ____ 117 117 ____________ ---- ---96 ________________________ ---90 ________ 96 90 1001s 1001310014 1001410014 10014 10014 101 101 101 101 ---100 ________________________________________________________ 86 ---- ---- 117 80 79 8014 7914 7912 7912 80 160 150 164 165 170 ---- ---- ------___ _ _ ___ 104121041 2 ------- ____ ---- 104 ___ 104 _98 ___ _ _ ___ 100 100 ____ ____ ____ ____ ____________________ ____ t89 t89 ________ ____ ____ ____ t86l2 t8612 ____ t00l2t00l2 ________ ____________ 9634 9634 12612 129 9634 t9878 t9734 t9958 9834 991 2 9834 100 991 2 t1001 8 9934 10218 89 ________ 8918 901 4 ____ ~--- ________ 9178 92a8 87 ________________________________ 1063g to11 8 10514 10514 t897s t9158 f961s f961 8 ____ ____ 9318 t9934 102 tI041 2 fl067s _ ______________ _ ____ ____ ____ ---- ___________________ _ ___ _________ 9812 9812 ___ _ ---- ---- ---- ---- ---t89 t89 ____ ---- ____ 76 7912 80 80 80 901 2 901 2 921 2 91:i8 9218 901 2 90 941 4 9178 t933g 9214 t963s 92a4 94 ____ 93 · 931 2 117 102 ---- ---- _ ___ t9813 t98ts ___ _ s21 2 81 8112 so1, 82 8012 80 80 79 so18 79 79 _ ______________ _ ____ ____ ____ 9813 981s ________________ 991s 9914 _______________ _ t8712 t8712 t8734 t8734 ________________ t9212 t9212 t93 t93 _______________________________________________ _ 1003s 1003s ________________ 10034 10113 _______________ _ _______________________________________________ _ ---__ __ ____ ---- -- -- ---- ---- ---- 1003s tooas 9812 9812 ---- ---- ---- ---- ---- ---- 100 100 1919 ______ 4 ---Iowa Division, Nebraska Extension, 1927-4 ---- ---- _____ ______ _____ 983g 983g ________________________________________ 1001s 1001a _______________ _ Chic Jct RY & Un Stk Y ds- _5 99 102 101 10214 ~0012 10134 10114 10214 102 10212 10212 10314 102 10314 103 103 10214 103 102/ls 10234 10214 10218 10214 10234 89 ____ ·--- __ _____________________________ _ 89 8612 8614 8812 8812 8812 88 88 Refunding, 1940---------4 ________ ---- ---- 85 General Electric-Warrants lnterb-Metropolitan, 1956--4 3-year conv notes, 1911- -- 6 Iowa Falls & SC, lst, 1917--7 KC Clio & Spring _________ 5 & 0------ 57 City Ft Scott Kan 1911 __________ Extended, ____ ------100 90 ---- ---- ---- ____________________________ 96 ________________ 95 ---- ____ 96 ~5 ---- ---- t6414 f6414 ---- ---- ________ ---- ---99 100 99 100 100 100 99 100 99 100 ____ ____ ____ ____ ____ ____ ____ ____ ---- ____ ____ 8273 8273 817s 817a ____ 90 ____ ____ ____ ____ ____ 90 ---- t593s t59¾ ___________ _ 96 ___ _ ____ ---- ---- 96 ---- 128 128 1281212812 ___ _ 118 118 ____________________________ --·- _______ _ 99 ________________________ 95 10012 99 99 99 ---- ---- ---- ---- ---- ____ ---- ____ 7812 781 2 ____ ·--100 100 1001s 101 101 102 100 100 101 101 101 101 1614 1814 18 1212 12 _ ___ 1114 1134 11 90 ____ ____ ____ 90 ____ 91 t92 ___ _ t075g t0734 tl0634 t09 9214 t973s 967g 92 9714 9712 97 95 1121211212 l.1414115 11414-116 . 1151s 1161 1151111161g 115 11514 Kan City Ft Scott & Mem---610912113 _ ___ Refunding, 1936 ____ .. __ 4 ---- , ____ ____ ____ ____ ____ ____ ____ ____ ____4 ____ 90 ____ ---89 91 91 90 90 Kan C Mem & Birm-1934--4 ____ ____ ____ ____ 8712 90 90 ____________ ---- ---____ 90 Re~stered _____________ -4 ---88 _ ___________________ 8812 881 ________ 88 Income _________________ 5 ____ 2 _ ___ ________________________________________ KC & Mem RY & Bdge 1st 5 ____ __________________________ __ 115 115 ---- ---Marquette Hough & Ont, 1st 6 ---- -- _ • 7914 82 t80 t85 f84 f85 ____ ---8i _::: ____ 8114 t84 Mexican Central-1911- ___ -4 74 _ ___________________ f813s f8412 ________ 811s 81111 Trust receipts-------------____ 1st incomes, 1939 ________ 3 ________ ------ • __________ t16 tl61s ___________ _ _ ___________________ fl65s t165s ___ _ Trust receipts-----------____ 2d income, 1939 __________ 3 -- -- ____________________ tl514 tl514 ___ _ 98 98 98 97 97 961 2 96 9612 961 4 961 2 95 95 94 New England Cotton Yarn-- 5 93 New England Telegraph1908---- - - - - - - - - - - - -- -- -6 ---- ---- 100 100 ---- 1916 -------------------5 ---- ---- ---- -- -- ------- ---- ---- ---- ---NY Central.debentures 1934 4 ________ 89ts 891s ___ _ Mortgage, 1997--------3½ Lake Shore debeo, 1928---4 ---- ---- ---- ---- ---- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ---- _______________________ _ f2512t265s ---- ____ f2612 t26t2 t3112 t3112 97 t993s 963s t985g 963g t98 9512 97 953s 9634 971:i 983.,t 9614 963g 961s 97 100 100 100 100 1001s 10014 100 100 997s 991, 10013 100 10014 100 1005s 98 100 100 t136 t40¾ 97 t99 9714 9714 1001s 10014 1001310012 _______________________________ _ 115 11614 115 11534 113 1151411312115 11412116 100 100 ____________ ·-·- ___________ _ 90 _______ _ 8912 8912 8912 8912 ____ ____ 90 87 ------t821s ---- 98 87 ---· ---t82ls ---- 81 87 101 101 ---- ---t807s t8213 817a 8173 9812 98 ____ ____________ 86 86 1001210012 ________ 1021, 1021, ---____ .... - t8133 8134 t827s t827a ___ _ 9812 9812 9914 9934102 10014102 ---- t913g t913g ---- t Flat pr! ce. ---- 967g f967g 124 BOSTON BONDS AND STOCKS. BOSTON BONDS IN 1908-CONCLUDED. BONDS. Januaru FelJTuaT11 March APT1l Ma11 June Julu Auou.,t September October November December ~~~~~~~~~~~~~~~~~~~~~~~~ ----------~----- ---- ---- ---- ---- ---- ---- ---- ---- ---- ----1---N Y N H & Hartford- Debenture, 1956 -- ______ 4 Convert, deben 195_6---3½ Subscrip ctfs full paid for conv debentures-_ - -- -- -6 do do part paid -- ---6 Norfolk & Western, 1991L.-4 Old Colony, 1925 _______ __ -4 Oreg RY & Nav consol . . - - _ -4 Oreg Short Line, 1st 1922--6 1st con sol. 1946- -- - - - - - - _5 Pennsylvania, consol, 1948 _4 Republican Valley 1st _____ 6 Seattle Electric hf ___ _____ 5 Union Pacific-1947 ______ -4 20-year convertible, 1927-4 United Fruit ______________ 5 US Coal & Oil, interim lst--6 US Steel Corp, 2d ________ _5 West End, 1914---------4½ 1932 ___________________ -4 1915------------ ----- ---" 1916 -------------------4 1917 -- _________________ 4 Western Telep & Teleg _____ 5 ---- ---- ---- ---- ---- ---- ---- ____________________________________________ 7912 88 ---- ---- 8434 8434 85 f87 f8634f873sf86 f87 t8514f8514 f88 t88 t92 9313 941 2 _______________ _ t923sf93 f93 ________ 9914 101 1193412334 11934 12312 1203412214, 12112 f2314 12438 1265s f12534,f2634 1251 2 12612 12734 12734 f2934 f2934 f295s f2934 t321 4 t341 2 ____ _ __ _ ---- ---- 1195sll95s ---- ---- f2114 t2114 f22121243s t12314fl24 1241 2 1241 2 _____ ___ t1271 4U29 ________ tl33 t133 tl36-14 f8234 t8234 ---_______________________________________ _ ------- 99 99 ------- 9812 9812 ___________________________________ _ ---____ t9614 f961 4 ___ _ ---____ 103 103 ________ t183s f197s tl20 tl20 ___________ _ ------- tl034 t103,i _ __ _ ___ f 145s tl45s t163s tI63s ___ _ ---____ 1013410134 ____ _ ______________ _ ---____ ____ ____ __ __ ____________________ 105 105 ------- 1001210012 ________ 1011s 1011s ____ _ ___ 103 103 105 105 ___ _ ____ ---- 10071, t0lls _________ _______ f0214 f025s •••• ___________ _ ---.... t843s t847s t863s f863s f883s 91 t9134 t9134 92 92 9412 f951s t99 f99 _______________________ _ 116 117 ______________________________________________________________ __ _____ ______________ _ - --- ---- ---- ---- ---- --- - _____ ---- ____ ---- 1021210334 102 10314 102 112 10514, 107 108 118 118 127 124 126 t86 t891s t8714 t885s t881s t951s t951:i t9733 947s t9612 9614 t96t2 t9612fl00 tI00tl005s t0lls 1017s U02tl023s 10034, 1031 8 tl0233 t27& ---- ---- ---- ---- ---____ 1011s 1011s ____ _ __________ _ 95 95 ---- ---- ------- ---- 9614 9614 ---- - - - 99fis 9934 ------79 87 82 8712 82 86 84 92 99 BOSTON STOCKS IN 1908. STOCKS Januaru FelJTuaru March ApTtl May June July August September October N(Jf)emlJeT December Prtcepershare, not percent. Par Low Hi(Jh Low Htgh Low Htgh Low Htgh Low Htgh Low lltgh Low Hi(Jh Low Hi(Jh Low Htuh Low Htgh Low Htgh Low Htgh ----------------------------------------------675s 7212 6853 7533 73 81 795s 8412 80 8312 8213 8714 865 9112 85 9112 875 927 935g 9914 96 10114 Atchison Top & Santa Fe-100 6834 741s Preferred _____________ 100 85 87 Baltimore & Ohi0------ -- 100 8813 8813 Boston & Albany ________ 10018112200 8 8 8 84 8553 8312 8534 85 89 8912 903s 91 933-1 9214 93 94 9512 9534 9534 95 9614 963410038 10114 10414 ________________________ 9153 915s _________ ___ ____________________________________ lI0 110 193 20013196 200 199 20634 20212205 200 203 202 210 210 219 217 219 2131.,2r, 217 225 220 230 Boston Elevated------ ---100 127 140 125 132 127 1297s 129 140 1321213514 131 134 133 13514 132 13514 132 138 130 -134 126 13134 h21121311..Rights ________________ - - - - - - - - _ _ _ _ _ _ _ __ _ _ _ _ _ _ _ _ _ - _ _ _ _ _ _ _ ___ • _ _ _ _ _ _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ • _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 234 4 Boston & Lowell -------- 100207 210 20014,210 207 210 210 21013207 210 20812210 205 208 210 2101 4 212 213 212 2131.,215 2251.,223 228 Boston & Maine------ --- 100 133 140 134 139 130 136 13412137 126 136 1261213012 131 136 125 13514 1241:? 128 114 125 - 125 135 - 130 133 Preferred _____________ 100 150 156 136 136 150 151 150 150 150 150 149 151 150 150 149 149 149 149 149 149 150 150 150 15012Boston & Providence- ____ 100 284 285 285 286 28514 28712 290 292 285 285 286 300 29412 295 295 300 295 295 295 300 300 301 29712 300 Boston Sub Elec Companies- 912 10 10 11 9 13 11 1212 11 12 11 1212 10 1034 10 11 IO 103s ____ ____ 97s 1112 1034 11 Preferred _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 45 46 45 45 45 51 51 51 5112 56 53 56 53 56 547s 5512 5434 56 5534 56 55 58 56 57 Boston & Worcester Electric- 14 17 10 17 12 14 ---- __ __ 10 11 1034 11 11 121 2 1012 12 10 12 912 10 812 13 10 13 Preferred _ _ _ _ _ _ _ _ _ _ __ _ _ _ _ 56 6012 50 59 53 56 5412 55 54 5434 53 5412 53 53 50 52 50 52 4978 52 4934 5234 4 712 53 Brooklyn Rapid Transit--100 ---4014 4014 ---- ---- 4712 4712 ---- ---- ---- ---- ____ 5133 513s ______ ____ ______ 541s 5413 ___ _ Chesapeake & Ohi0------100---- ---- ____________ ---- ---- ____ 385s 39 4438 443s ________________________ 435s 435s _________ ____ __ _ Chicago Junction RY-----100 126 13712 13612137121341213712 137 143 142 145 150 150 150 150 149 150 148 149 145 14 141\ 150 148 1511.t Preferred -------------100102 110 106 10878 106 10873 108 111 111 1131210912112 112 115 11514117 116 11812116 11812119 120 120 12012 Chicago Milw & St PauJ __ 1001071210712 ________________ 1167s 1283s 1317s 13212 1327s 1327s ________ 1443414434 ____ _ ___________ 1503315012 Chicago& North Westem-100 ------- ---- ---- ------- 158 158 ---____ ---- ---- ---Colorado & Southern ----100 ---____ ---- ---- ---- ____ ---- ---- ---- ---- ---____ 4434 4434 _______ _ 2d preferred ----------- 100 ---____ 4413 4413 ---____ ____ ____ ____ _ __________ _ Con & 1'\ont-ctass 2-----100 ---____ 155 155 ---- ____ ____ ____ ____ ____ __ __ _ __________________ _ Class4-- --------------100 ____ ____ 16314165 165 165 165 165 1631416314 ____ ____ ____ ____ ______ __ __ __ 163 163 Conn & Passum, pref-----100 ____ ---- ________________ 138 138 ____ ---- ---- ---- ____ _ ___ 1331413314 1331413314 _______________ _ Connecticut River----- -- 100 244 245 244 246 245 245 250 253 ________ 250 250 ____ _ ___ 250 250 255 255 250 260 263 263 Erie -------------------100 ____ ---- 141s 141g ________________ 2034 21 1914 1914 ________________________ 31 31 _______________ _ Fitchburg, preferred-----100 117 1211 2 120 12112 121 1.25 124 131 123 129 125 12812 12434 12512 124 1251s 123 124 120 1235s 122 133 130 132 Georgia RY & Electric----100 71 79 ________ 71 75 67 7012 6814 70 6812 74 7034 7314 68 7212 73 77 75 77 7512 78 78 86 Preferred -------------100 ____ ---- ____________ ---- ---- ---- ---- ---- ---- ---- ________________________ 81 81 8112 82 82 85 ~=:~ ~=~:8 Og:~tc~:trn~!rt~;~~~~e~~~~ =~~~ ~~=~8 1_2_4_3~ ~~~8 1_~1-~ 1_2_3:~ ~~~7~ Illinois Central----------100 ________________________________ Interboro-Metropolitan---100 ---- ---- ________ ---- ---- ---- ---Maine CentraJ ___________ 100 ---- ---- ________ ---- ---- ---- ---Manchester & Lawrence--100 ____ ---- ____ ____ ---- ____ Mass Electric Compaoies-100 814 121 2 9 11 912 1034 973 10 Preferred _____________ 100 40 501 2 40 471 2 41 48 45 47 Mexican CentraJ _________ 100 ---- ---- 1712 1712 19 19 153s 153s Missouri Kan & Tex, pref-100 5512 5512 ---- ---- ---- ---- ---Missouri Pacific _________ l00 ________________________ 46 ---46 New York CentraL ______ 100 ________ 9312 9312 ________ 98 10112 NY NH & Hartford ______ 100 128 13912 130 13612 132 1351 2 13134138 Rights____ _______________ 35s 514 ---- ---- ---- ---- ---- ____ Northern N H ___________ 100 144 144 ________________ 143 145 Northern Pacific _________ 1001231312518 ________ 12658 1265s 1265s 12658 Norwich & Wore, pref ____ 100 ________ 205 205 ________ 200 200 Old Colony _____________ l00 175 185 182 185 1847s 186 184 188 Pennsylvania ____________ so 5473 547 ________ 577s 59 5814 585 Providence & Worcester __ l00 250 250 8 250 250 ____ ____ ____ ____8 Reading _______ __________ 50 ____ ____ ____ ____ Rock Island ------------100 ---____ ____ __ __ Preferred --------------100 ____ Rutland, preferred-------100 25 26 25 27 25 2834 25 29 St L & San Fran, 1st pref-100 --- Savannah Electric . pref--100 ____ Seattle Electric __________ lOO ________ 70 75 ________ 70 70 Preferred _____________ 100 8833 92 94 95 90 95 90 9014 Southern _______________ 100 ____ ____ ____ ____________ Southern Pacific _________ 100 75 75 ________ 76 76 7714 7714 Preferred _____________ 100 1101411014 Union Pacific- __________ 100 1165s 12814 Preferred _____________ 100 80 84 Vermont & J\lassacbusetts 100 150 150 West End _______________ 50 76 85 Preferred ______________ 50 96 9914 Rights ___________________ 40c 90c. Wore Nash & Roch ______ 100 ____ ---- MISCELLANEOUS. American Agricult Chem-100 Preferred _____________ 100 Amer Car & Foundry _____ 100 American Cotton OiL ____ 100 Amer Hide & Leather, pf-100 American Ice Securities--100 American Locomotive ____ lOO Preferred---------------American Pneum Service--50 13 78 ____ ---____ ____ 395s 907s 413 Preferred ______________ 50 103s Amer Smelt & Refining ___ 100 American Sugar _________ 100 Preferred _____________ 100 Amer Teleo & Teleg _____ 100 American Woolen ________ 100 · Preferred -------------100 Boston Land-------------10 Boston Water Power________ Central Leather _________ 100 Preferred _____________ 100 Col Fuel & lron _________ 100 Cumb Telep & Teleg _____ 100 Dominion Iron & SteeL--100 Ea t Boston Land__________ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis l~f!! ~~~ I~~~: ~~~~~ ~~=- ~~=~s ~==~8 1~~14 _ 1_3_1__ 1:~~ 1_3_a~: 1_3_~~1==== ==== I_~O~: 1-~5~~ 135331353s 1281s 1281s ______________ __ ____________ ____ _______________ _ ---- ---- ---- ---- ---- ____ ---- ---- ---1712 1773 ---- ---- ---- ---- ____ ____ ____ ___ _ ____ ____ 193 193 ------- ____ ---- ---- ____ ____ ____ ____ ____ ____ 241 241 ___ _ 912 IO 101s 107s 914 1034 912 1034 9 1014 9 1014 IO 1334 12 123.t 4212 4612 4412 49 46 501 4 47 50 4612 5212 50 55 5412 64 57 6014 ___________________________________________________________ _ ------- ---- 69 69 --- - ---- ---- ---- 705s 7053 ----_ 49ts ---6214 ---4734 ---4734 ___________________________________________ ________________ 10712107121081210834 ________________________ ll'i'l211712 132 14034 133 13812 135 14112 140 14414 13734 145121381 2 1481 4 147 161 157 161 ---- ---- ---- ---- ---____ ---- ___________________ _ 143 143 140 14312 ________ 140 140 _______________________ 144 144 13213 1321s 1371413714 ________ 143 143 ________ 138 138 1431s 14313 1423414234 ________________________________________ 205 205 _______________ _ 181 185 18214185 18214186 185 188 186 189 186 189 186 192 194 196 5934 61 ________ 611s 6113 621s 6234 ---- - -- ---- ____ ---- ---- ---- ---____ _ ___ 255 255 ________ 257 257 257 260 260 260 ____ ____________ 651s 651s _______________ _ ____ ____________ ---24 24 ____ 3434 3434 ____ _ ___ 5814 605s 29 29 26 27 26 26 26 2712 2514 2612 25 28 25 32 29 34 ----1---- ---- ---- ---- ____ 45 45 ____ ______ . _ ____ ____ ___________ _ ____________ -- -- ________ ---- 60 60 ____ 7212 8212 80 80 80 80 8012 8312 8112 8412 8412 94 90 91 92 93 92 93 93 95 9412 98 94 97 9712101 151s 1513 1713 171s __________________________ ______________ 8314 871s 8734 8784 90 9033 967s 10214 97 10534 1033s 105 . ___ - - -1083s 1083s ________________ 1151211512 ____ ---- ---- ____ -- - - ---- ---- ---- ---- ---- ---- ---11114 1231 2 1101 2 1283s 12438 13812 13513 15158 14173 150 1451415538 1545s 1643s 150 16834 15812 17334 173 1855s 83 83 81 81 7834 80 801 2 8478 ________ 82 82 8533 8573 8612 8812 87 885s 937s 973s 15114 155 155 155 155 155 ________ 154 156 155 156 ________ 156 157 ________ 1571s 161 8018 84 8234 8734 8434 8734 83 851 2 82 85 8212 85 85 8914 88 9112 8712 8912 88 9012 97 100 9734 104 101 105 100 104 101 1043410134103 102 105 105 106 105 106 105 109 ____ _ ______________ _ ________ 139 140 140 140 ---- 138 138 ---- ---- 140 140 - --- 18 85 ____ ---____ ---395s 907s 51 2 131 2 1578 1838 1678 1834 17 205s 19 2134 21 25 24 257£ 2412 2512 80 843 77 811 80 85 85 87 86 87 86 9314 9012 94 ____ ____4 ____ ____8 ____ ________ 2573 2573 ____ ____ ____ ____ 1312 141s ____ ____ 2034 2034 ____ ---- ---.,. ___ •--________________________ 51 5134 5012 5012 50 5212 ________ 9053 905s ________________________ 1011410114 __ ----4 41 2 4 6 5 614 5 812 5 734 512 63s 5 6 91 2 1214 1114 14 1214 14 1334 21 1412 19 1512 1714 14 16 ____ ____ 591 2 591 2 6934 7334 681 2 681 2 70 7718 75 75 8212 83 951210312 991411434 108 1141 2 1125s 1273s 12314 1281 2 12634 13214 122 12914 125 133121311213712 108 116 106 114 112 1231 2 120 124 123 129 121 12734 124 128 127 130 99 11014 105 10814 106 1121 2 10814 1203s 1161 2 11878 116 120121151212212 1211412712 16 22 1614 193s 16 2114 1812 211 2 1934 24 21 24 2212 2434 2312 2612 8112 88 7734 8614 7834 8534 8234 85 84 9012 8712 8912 88 9334 9Il2 94 3 3 ____ ____ ____ ____ ____ ____ ____ 312 312 ________ ~--- ---____ ____ ____ ____ ____ ____ ____ ____ ____ 214 214 ---- ---________ ·--- ·--- 1712 1712 2012 2273 25 25 ---- ---- ---- ---- ---- ---___________ _______ __________________________ --·- ---- ---- 983s 9833 2134 21a4 ________________________ 2714 31 ________ 3014 3012 3314 3314 961 2 100 10112 11018 1051 2 1061 2 108 110 108 110 1071210712 I071z 115 115 11573 1434 15 ________________ 18 1814 17 17 1512 1612 1514 1514 41 2 51 2 ____ ____ 414 51 2 414 5 434 6 --514 512 534 514 514 --53~ 2514 291!! 27 90 9512 90 2912 29 35 92 9 Fs 96 4513 5753 ----- ____ ---- ·--· 106 106 47s 534 434 612 11 1412 1112 1512 825s 9933 8612 8612 127 135 128 134 1241212912 l35 12912 12514 131341261412812 2112 24 2112 24 90 93 90 9134 ---------· ------------- ---- ---- ---117 125 120 12214 ---- ---- 17 17 514 57.~ 514 71s ------------- ____ ---- ---5 812 137s 197s 93 7s 937s 131341375s 130 132 1267s 13212 24 3134 9F1s 9612 334 334 -·-------125 17 7 ---------128 2014 8 h Ex 9134 95 100 102 2573 257s _______ _ ---- ---17434 1843s 947s 9512 ____ . __ _ _ 87 9012 10612111 311s 3438 94 96 46 46 ---3473 347s ---- ------- ------- ---512 12 13 23 8134 923s 126121325a 127 130 127 I29"7s 2814 323s 9312 9614, 4 412 ---------125 12734 21 2114 7 812 rights. BOSTON STOCKS. BOSTON STOCKS IN 125 1908--CONCLUDED. Januar11 Februa,11 Aprtl March Mau June July STOCKS. November December September October A'UQ'U3t Prtce per snare, not per cent. Par Low Htoh Low Htgh Low Htgh Low Htoh Low Htoh Low HtQh Low Htgh Low Htgh Low Htoh Low Htoh Low Htoh Low Htg"/1 Illum _____ - _100 Edison Ri11:h tsElec __________________ 205 212 203 209 201 205 205 214 210 214 20734 214 20812 217 214 :mo 225 250 230 245 239 253 240 252 112 134 - - -Electric _____ ____ 100 Ill 124 11312120 115 12812 125 1-3-53~ 132 141 i:iot2 li9-- 133 148 143 148 136 l •!S 1:37 14512 144 160 156 162 General 4 312 312 312 312 312 31: 312 312 312 312 3¾ 3lz 3 lnternat Button-Hole __ - - _10 4 3 3 14 312 312 334 lnternat Steam PumP ----100 -- -- ---- ---- ------- ------- - ---- ---- ---- ---- 3173 3612 Preferred ____________ -100 ---- ------- ---- ---- ---- ------- ---- ------- ---- ---- ---- ---- --- - 8034 8412 ---Oas- -- ___ 100 50 573s 5173 5414 4g 5314 50 53 5112 5812 53 55 5212 55-14 5312 5612 54 5634 54 56 56 58 5512 60 Massachusetts ____________ 100 77 85 83 84 82 84 8312 8712 8312 87 8412 86 Preferred 86 S5 88 !!612 8712 86 875s 8614 8834 8634 90 8934 Mer11:enthaler Linotype ___ 100 193 200 193711196 194 196 192 195 194 200 198 200 198 204 203 210 203 206 202 20712 20912 215 20512215 114 112 134 23.( 1 112 112 213 lll4 17s 1 Mexican Telephone _______ 10 112 2 112 2 2 2 312 2 2 258 2 3 234 517. 558 6 5 5 Preferred - _ - - - - - - - - - - - - 10 514 6 514 6 6 6lt, 5 512 6 5 55s 614 512 6 6 7 6 514 612 Minn General Electric----100 ---- ---- ---- --- 95 95 ------------------- -- - --- -- -Preferred - _______ -----100 100 100 ------ ---- ---- --- ---- ... - - r• - -----4913 4913 National Lead--- ____ -- - -100 --------42 ------· -- 58 ----74 40 70 40 New En11:Iand Cotton Yarn 100 5912 5912 43 45 40 41 40 43 6412 60 60 58 60 78 54 60 7912 80 76 80 75 78 Preferred _ -- _---- __ ___ 100 7912 80 78 75 84 75 90 76 8812 93 76 88 88 87 821:: 85 86 86 119 10634110 107 110 1061211514 1107311334 110 113 112 115 112 118 11634120 119 122 ll8/l4127 125 128 New En11:land Telephone-- 100 105 50c. soc. 51c. 75c. 50c. 1.40 Rhrhts -- --- - --- -- ----- ---- . ---- --- - ------------Pacific Coast Power _____ 100 5234 59 5914 5912 60 67 6714 6914 6912 7312 7514 79 5112 55 Planters' Compress, pref- 100 5 5 ----- ·- ---- 331 3313 Pressed Steel Car ____ - - - -100 ---8 Pullman Company ____ - - - 100 147 159 149 15612 149 15412 is2a4 1-6-i3~ 158 160 157 160 15612170 164 167 ' 160 16612 16112166 16512 1741::? 169 17312 912 953 9 918 10 10 912 973 912 934 912 934 912 10 934 1012 934 1012 Reece Button-Hole-------- 10 914 934 93s 10 934 10 - ,.. __ ---Republic Ir & Steel, pref-100 ------ - ------- - --- 807g 807s ---- ------Rotary Ring Spinning _____ 10 1573 ]914 Swift & Company ______ _100 8812 9912 96 100 96 9912 961210014 1001210314 100 10234 1001210812 10314105 10014 1053s lOF•s 10314 1021210434 10034 10414 21 22 20 23 23 23 24 2212 2314 23 22 2112 2114 2112 2012 2112 23 Torrington Class A------ - 25 20 20 2212 23 2312 23 25 25 2512 2612 25 24 25 26 25 25 2614 25 25 25 26 25 26 Preferred - - - -- - - --- - - __ 25 24 25 2412 25 24 25 158 1s8 134 2 114 134 Union Copper, Land & Min-25 112 212 112 2 13s 112 112 112 114 112 114 112 112 112 112 2 173 I7s United FruiL-- ------- - -100 114121203,1 115 11834 115 12712 12312141 1361214312 1391,114512 131 148 13112 13612 129 135 12s1 8 1301 8 130 13212 127 132 13 14 -- -- --- - --- - --- - --- - ---- ---- ---- ---Rights--------- ---------- ---United Shoe Machine Corp - 25 3812 46 .;012 4434 42 5012 4614 5312 52 5512 4912 58 5112 56 55 5814 53 5612 53 5512 5418 6238 57 6112 Preferred ----- -- -- - - -- - 25 2473 2714 26 2812 2634 2734 27 2813 2712 2812 2734 2814 28 2812 2734 2812 28 29 28 2812 29 30 2858 2912 U S Envelope, pref _____ - 100 ------- ------- 9g1 8 9s18 ------ ---- --- ---23 26 2713 2714 United States Rubber- -- - 100 ------- 10014 --- - --- --975 --99-- 10014 9218 -921; 973g 9738 101 101 77 77 First Preferred --------- 100 ---8 ---U S Steel Corporation ____ 100 26 3113 2634 291g 2853 3614 327s 37 483g 4758 583.1 51¾ 5534 3734 457g 4413 48 3514 3913 363s 39 4113 473-1 45 9238 9973 973s 10112 1001310333 10073103 1025g 10914 1073411214 10614112 108 111 110¾; 114 1101411314 Preferred __ -- -- __ -- -- _100 8712 953s 8914 93 1 712 7 512 7 10 712 8 7 612 7 7 7 6 6 7 8 Western Telep. & Tele11:--100 412 8 6 5 834 634 7 4 6 6212 65 6434 6212 67 75 80 8014 75 71 75 67 75 66 73 60 80 65 Preferred _____________ 100 59 70 65 65 65 75 Western Union Tele11:raph- 100 57 57 51 51 ----------------------------3:{14 41 4l 44 46 Westinghouse Elec & Mf11:-50 217s 217s 1973 -ii1; 355s 2712 2712 ---- ----- -- ---- - --- - Preferred - - -- -- -- ----- _50 ---- 3473 3473 ---- 441 8 441g ---- ---------- ...... --- - ------ ---- ---- ---- ---- ---- ---- ---- ---------- ---- ------- ------- ---------- ------- ---- ------- ---- ---- ------- ------- ---- ---- ---- ---- ---- ----- ----- -- -------- -- --·---- ---- ------- ------- --------- ---- ---- ------- ---------- ---- ---- ---- ---- ---- ---- ------- ------- ------- ------- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ----- --- ------- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- -- -- ---- -··- ---- ------- ---- ------- ---- ---- ------- ---- -- ---- ---- ------- ---- ---------- ---------- ---- ---- ---- ---- ---- ---- ---- ~ -- - ---- -- -- ---- ---- -- --- ---- -- MINING. 112 214 812 11 912 71ls 93g 3 833 1214 813 10 7 Adventure Consolidated---25 2 112 17g 1.5614 2 1.9334 212 17s 413 3 9334 9 40 3912 37 4014 3312 37 29 35 3734 35 26 3012 2712 29 4112 36 24 26 2412 29 Allouez - -- ---- -- -- -- ___ ... 25 27 3312 2512 29 8533 Amalgamated Copper----100 46 5334 45 5214 4973 6234 565g 6134 5934 695g 5418 683g 6573 1118 7418 8312 691jj 8114 7214 81 795s ss1s 76 2812 2512 2912 2234 2712 23 26 24 2734 2434 267g 27 Amer Zinc.Lead& Smeltin11:25 2Q34 2612 22 2312 22 25 22 2412 23 2834 27 30 25c. 7c. Rig'b ts - - - - - - - - - - - - - - - - - ---- ---- ---- ---- ---- ---- ---- --- - --- - ---- ---- ---- ----- -- ---- -- - --- - ---- ---- ---471 8 5012 3738 4614 4113 4334 -1273 471g 4512 5014 '1258 475s 417s 463s 4714 53 3212 4013 3612 39 Anaconda ---------------25 29 3353 28 33 Arcadian ________________ 25 412 6 37g 434 314 434 353 434 4 6 312 41 8 312 334 3 334 41g 3 14 334 3 14 414 312 334 434 Arizona Commercial------25 14 2034 16 201, 17 2014 17 19 1734 1934 17 1814 1714 2134 20 2612 26 2912 2834 36-34 3334 3914 3514 405s Rights--- _____ 4c . ------ ---- ---- ---- ----1? 1~ 51c 90c.14 ---- ---- ---- --- - ---- -- -- 60c. ---75c. 40c. 45c. 45c. 45c. 45c. 50c. 50c. 50c. s oc. 50c. Arnold -- ---------------25 - -----1914 1773 1912 16 1434 1834 17 1912 1334 16 934 12 914 1914 15 973 912 1112 8 1712 1373 17 Atlantic -- --------------25 912 14 4 214 234 Balaklala Copper---------10 2 --- --------------------... -------· Ba topilas __ - _________ - - - -20 ---27g 312 --. -- -- - -- - ---- ---- -- ------ ----12 80c. ------- --- - --- 118 25c. 20c. fiOc. 19c. 35c - . 1 50c. soc 25c. IJOc. 134 25c. Bin11:ham Cons Min & Sm--50 334 634 112 512 50c. - . - - - ----1? 55c. 1? 12 34 55c 70c. 14 41c. 45c. Bonanza (De velopment Co) 10 38c. 50c. 35c. 70c. 50c. 71c. 50c 52c. 40c. 50c. 40c, 40c 40c 50c. Bost Cons C & 0 trust rec- £1 1113 17 13¾ 1613 1114 16 1014 1234 1034 1412 1034 1234 1112 147s 1214 1412 1112 14~•s 133g 1412 1414 1s18 1512 17 201g 2373 Boston & Corbin C & s ____ _5 ---191g 25 16 14¾ 1834 1634 1914 1414 1814 1534 20 1114 1234 I17s 1612 14 Butte Coalition ___________ 15 1512 2018 16 211s 19¾ 23 213.,: 27.lg 24 273,1 261:? 29 14 257g 2s1, 2734 2614 30 1912 2314 217s 2514 2134 2412 22 Calumet & Arizona _______ 10 10214116 93 113 99 107 9812105 1013411212 10573 111 109 127 11-6 130 112 12412 114 1~2 118 12712 114 12112 Calumet & Hecla _________ 25 600 700 610 670 565 650 620 637 640 691 655 675 655 675 670 700 630 670 645 680 66(J 700 660 685 5c. 5c. --- . Sc. 5c. Catalpa (Silver) __________ lo --------- ------------Centennial ____________ - - _25 24 2814 21 25 ---2434 30 3612 3312 3634 3112 35 2914 3612 2812 34 25 33 2612 22 22 22 25 21 22 Central OiJ _____ ______ -- - -25 ---212 --- 3 2 3 2 2 3 3 ---- ---- - --Consolidated Mercur Oold -- 1 28c. 40c. 35c. 37c. 25c. 38c. 35c. 40c. 39c. 41c. 40c. 45c. ::isc 45c. 4::lc, 45c. 40c. 45c. 40c. 43c 33c. 43c. 35c . 40c. 8212 7812 7713 g318 77 77 74 7134 81 8112 6973 8012 72 Copper Ran11:e Consolid--100 5612 65 5513 64 6634 635g 6812 6734 7412 71 59 5c 5c 5c. ---- ---5c. Crescent (Silver) ____ .. ___ 10 -- -- ---- - --- --- - ------------1 97g 117g 1114 912 9 10 11 1012 9 9 Ills 1012 10 llls 973 9 912 9 4 7 9 8 9 8 8 Daly-WesL---------- --- -20 51 ---- -- -- ---- - --- ---- ---- . --- ---- 5512 5512 475g 5112 --- - ---- 50 50 Dominion Coal- - ______ . 100 ---50 ---95 98 9838 95 96 9412 98¾ 9412 Preferred _____________ 100 ------- ---- ---- ---- --- - ---- ---- -- - - --10----- ---834 East Butte Copper----- --- 10 ---- ------ - ---- ---------- ---- ---- ---- ---- ------- ---- ---- ------------- ---- ---25g 108 !14 25g 234 2 253 134 2 14 2 2 214 21,, 1 1 1 2 1 112 99c. 1 1 113 Elm River _______________ 12 1 14 1334 1912 1512 Hl 1412 12 914 1412 1112 1/i 11 712 912 934 714 812 612 8 SSs 10 Franklin --------------- - 25 734 1012 7 1)7 103 100 107 14 103 109 98 105 96 110 100 110 Granby Consol M S & p __ 100 80 9412 83 90 80 95 90 9012 90 95 9112105 131g 912 1158 934 1034 )012 1234 1018 1258 8 1013 912 1114 101g 1212 11 Oreene-Cananea Copper ___ 20 673 912 714 834 813 95g 71s 9 15g 17g - --2 2 23g 2 134 134 134 134 -- -214 2 Guanajuato Consolidated ___ 5 23s 27g 2 214 214 214 2 212 26 21 -is1~ 1934 24:14 2134 24 221:? 253-1 22 1914 25 2012 187g 2234 1734 2I 18 Isle Royale _____________ _25 18 2614 1734 2434 18 22 16 1434 1314 141~ l:ll~ 1612 14 1512 1334 1512 13 1314 147g 13 La Salle Copper __________ 25 1214 1714 1234 16 13 1514 125g 1514 1334 16 Lake Copper _____________ 25 ---113g 14 133~ 1212 143.j l:ll2 !)034 195g 2414 10 ------- 234 6 612 S3s 531 71.1 5 5 --412 77g 3 534 734 57s 73s 214 27g 4 3¾ 214 3 Mass Consolidated _______ 25 312 --it~ 3 1? 55c 12 60c. 6Uc . tJOc. 14 60c. 12 65c. 34 45c. 35c. 40c. 40c. 40c. 50c. 50c. 50c. 40c Mayflower_ --------------25 25c. soc ---71g 47g 43g 514 414 41::? 312 55s 4 4 412 51s 453 6 714 534 673 473 714 51, 7 Mexico Cons Min & Smelt-10 614 8 6 Miami Copper _____________ 5 ---103s 1218 834 l :.!12 934 ll•s 1153 1412 1214 1512 --------------------------Rights _______ ___ ______ __ 1~ 12c. llc. 12 - - -- - -- - ----- - -- - --- Michii?an __ _____________ 25 834 1234 714 1012 712 1112 1014 1112 914 -103~ 814 1014 9 1414 12 u;1 4 1234 1434 13 1412 133,i 1512 123-1 15 67 6712 601g 68 7134 67 71 73 71 65 58 63 58 56 57 45 5512 4812 5134 4712 4912 47 Mohawk _-- -- __ -- -- -- -- _25 4714 58 1~ 65c. 25c 55c. 12 6.'ic 40c . 45c. 60c. 42c. 90c. 60c. 85c 65c. soc. Montana Consol C & c____ 10 1 1 60c. 70c. 50c I¾ 70c. 114 55c. 11; 112 1 11~ 1 112 1 75c. National - - - -- ---- --- - - - -25 ------------153g 1814 l'/3,1 2034 1812 203.1 17 1512 1412 17 14 11 9 9 1334 1113 1238 1112 1312 1112 121g 12 Nevada 83s 1212 Consolidated-----5 Ri11:hts -- ________________ ---- ---- 6c. 9c. 2c. Sc 5:Jg 612 43g 51-1 712 473 75g 5 --67; 6 513 738 473 7 Newhouse Mines & SmelL-10 ------- ------- 634 714 71s 8 8 8 8 New ldria Quicksilver------5 8 --8934 - - 712 8 793-1 8514 8912 88is 8773 655g 7912 7912 6834 83 6414 7534 86¾ North Butte------- -- -- --15 4234 5414 4034 5112 485g 5712 5112 5934 57 6614 7,i4 913 North Lake---------$8 paid ----- -- ----- -- -- -- -------12 ---------- ---- ---- ---------Colony ______________ 25 6fic. 90c. 65c. 60c. 12 65c. 60c. liOc. 1 65c 50c. 55c. 12 50c 55c 50c. 55c. 50c. 50c. 50c. 85c. 50c. 50c. Old Old Dominion ------------25 28 40 3012 385g 35 39¾ 32 3612 3314 3812 3312 3612 3312 4112 3812 4314 37-1i 4312 411::? 5373 52 5912 54 6012 9812 113 10912 lJ 7 10478 115 10712 12412 117 126 12512 13512 90 103 8312 95 Osceola ---------- __ - ___ _25 86 92 85 77 86 80 8712 81 297g !!534 2934 25 2838 27 2812 26 307s 211 8 311g 2334 23 21 Parrot (Silver & Covper>--10 1012 145s 1234 1712 16 1953 18 1973 1912 23 90c 1 --- - ---- --- - ---- ---- -- - ... 60c . f\O•:. 34 114 1 Phenix Consolidated----- _25 1 Ils 50c ---- 84 87 8512 9912 93 ---Quincy _________________ -25 80 9312 77 88 80 85 80 ---95 89 95 IJ6l2 90 9312 100 100 92 79 89 84 418 41,~ 451: ;{34 414 412 63s 4 5 314 312 31g 5 614 212 4 4 212 412 Rhode ldand-------- ----25 .., ___ 3 312 212 3 3 49 59 49 50 64 60 54 4!l 51 50 55 50 4912 55 St Mary's Mineral Land--25 4912 50 4912 4912 50 50 ., 21g 33g 134 212 2 134 134 212 17g 134 2 3 17s Santa Fe (Gold & Copper) __ l0 2 25g 2 134 212 15g 17g 214 134 2 Shannon ________________ 10 1014 135g 934 1234 1012 1212 1114 12 11 34 1434 1314 141g 1314 1531 1412 1612 14 ) 6 1412 1614 16 1914 1614 185g 2918 2712 3612 32 3534 Superior---------_ -- ____ _25 __ ---- 1612 18 1612 18 15 1634 17 1912 1614 18 16 2412 23 2534 22 25 2412 Superior & Pitts Copper---10 ------- 1413 11:is 1713 2018 16 1912 -------- ---- ------Tamarack _______________ 25 ---77 70 7912 70 78 79 88 68 7612 85 6234 62 78 6412 56 57 59 63 60 70 56 67 6712 77 461g 3614 3912 3758 391:? 4014 4634 44 36 511s 44 3814 3512 36711 36 38 271s 271s ---Tennessee ---------------25 Trinity _________________ 25 ---183g 1912 1712 21 2012 16 15 15 145g 1834 1213 16 1314 155s 1212 1414 1253 1534 1434 25 1314 15 1312 17 United Copper _________ --100 612 812 6 7 45g 63s 534 71s 612 83s 634 718 634 714 734 1514 IO 1112 97s 13311 1312 1612 1134 1438 21Jl4 36 29 Preferred ---- - ------- -100 25 26 2134 2134 ---- 35 3034 -- ---30 --- - 22 253s 2312 ------- ---263g 2312 2514 25 28 2334 2614 2434 2834 28 27 2414 9 US Coal & OiL--- --------25 934 1034 912 1012 9 11 Ri11:hts __________________ ---- ---- ---- ---- ---- ---- ---- ---- -- ---- ------ ---- ---- ---- --- --- -- 0 ---- ------- ---------- -- -------- ------- ---- -- ---- ---- ---- ---- ---- ---- ---- ---- -- ---- ---- ---- ---- ---- ---- --------3334 -- ------391g 35 28 38 U S Smelt Refin & Mininir-50 2912 3512 31 Preferred - - - - - - - - - -- - - _50 3813 4012 37 3934 3712 411s Utah-A pex Mining _________ 5 --- Utah Consolidated---------5 2912 4133 3314 3953 3712 4112 Utah Copper---- ---------10 Victoria ___ _____________ 25 412 534 312 514 3 4 6 Winona -----------------25 412 518 534 a634 5 Wolverine - ____ - _ - ______ _25 11512132 11g 130 120 130 Wyandotte --------------25 60c. 1.0614 90c. 90c. 60c. 85c. a Assess ment paid. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ---- 39 43 ---- 3712 3934 2914 3114 212 3 434 512 125 130 60c. 70c. le 37 41 le. ---3912 3514 38 42 431,1 41 ------3812 4312 4212 40 345s 31 2873 33 412 57g 234 6 67g 512 612 5 125 138 130 134 118 114 60c. 50c. ---- ---- ---- 445g 38 42 41 3534 43 46 415s 4612 4514 4612 44 43g 47g 4012 4734 4012 49 4513 50 4712 3712 46 3353 4034 40 4 414 634 534 514 612 512 71s 61s 71:? 512 614 130 145 141 145 137 149 ~lg :.11s 2 2.9334 114 25g -- ---- 41 39 44 45 45s 6 45 36 403s 445s 4 514 5 6 138 142 214 33s 3914 -4673 4434 47 573 7 3712 4912 4234 53 41l! 6 61s 734 140 155 214 31s 4614 43 4534 4673 612 63s 43 47 49 43 412 3 6 714 149 152 233 333 PHILADELPHIA BONDS. PHILADELPHIA BONDS IN 1908. BONDS January Fwrua:r11 March Apr1.l May Jum ;ful71 August September Oclober November December ~~~~~~~~~~~~~~~~~~~~~~~~ -------------,---RAILROAD & MISCELLAN. Alleg Vall, E ext, 1910 ..... 7 General, 1942 ............ 4 Alt & Logan V El ...... -4½ AmericanCemenL ......... 5 American Oas & Electric ... 5 ·--- 10412105 1051810518 1051210512106181061210658 10658 •••• ---· 104 104121041210412 -·-. ... 9934 9934 •••• • ••••••••••••••••••• 99 99 •••• . ... 9412 95 . ... 80 . 80 •••• . ... 78 80 77 77 6912 74 71 72 70 7112 70 77 7534 80 American Rys, Con .•.•••• 5 9412 95 9634 9634 •••••••• 96 96 •••••••• 96 9734 •••• •••• •••• •••• •••• • ••• 98 9934 97 *98 Coll trust 1917 ........... 5 ........................................ 9414 95 95 95 95 95 •••• • ••• 9412 9412 •••• Atlantic City, lsL ......... 5 ........................ 106 106 1031210414 •••• •••• •••• •••• •••• • ••••••••••••••••••• Baltimore &. Ohio, 1948 ... -4 ........ 9978 9978 •••• • ••• 1001410014 •••• • ••••••••••••••• •••• Pitts LE & W Va Sys ... -4 .... . ... 91 91 ••.••••• 91 91 •••• • •••.• • ••••••••.•••• Bergner & Engel, lst- ..... 6 .... • •.. 1001410014 ••••..•• 100 100 •.••••••••••..••••••••••••.•••••••.•••.. 100 10014 1021410214 Bethlehem SteeL •••.•.•••. 6 •..• • ••• 110 110 112 112 •••••••• 113 113 1131211312 •••••••• 116121165g •••• • ••• 116 11612 Buffalo City Pass, cons .••. 5 .•.• --·- .•••••••••.••••••••• ··-- 104 104 --·· ·- -- --·- •••••••••••••••• Cambria & Clearfield •.••••. 5 .•.•. •••.••••••••••••.••••••••••..•••••• 110 110 •••• •••• •••• •••• •••• •••• •••• • ••••••••••• Catawissa, 1st consoL •••• -41031210312 •••••••• 1031210312 ••••••.•••..•••••••••••••••••••• 103 103 103 10334 •••• • ••••••••••• Choctaw & Memphis ••••••• 51071210712 107 107 •.•••.•• 107 109 110 110 ••••••••.••••••• 109 109 109 109 •••••••••••••••••••••••• Choctaw Okla & Gulf Gen •• 5 100 103 1021210314 10212103 103 104 105 10514 1041210514 10212102!!41031210312 1031210312 105 1051410512106 1061410614 Consol, 1952 •••.••••••.•• 5 104 107 107121071210613107 1071210753 105 10612 •••••••• 107 107 107 10712 •••••••• 109341093-1 •••••••••••••••• Citizens' Passenger, Inds ••• 5 •••••••••••••••••••••••• 1023410234 •••••••••••••••••••••••••••••••••••••••• 106 10614 104 10412 •••••••• Clearfield & Jefferson ...•.• 6 •••••.•.••••••••••••••••.•.••••••••••••••••••••. 1151? 11512 ••••••••••••••••••••.•.•••.••••••••••••• Consol Traction of N J ..... 5 99 10212 10112 102 10114 10134 10112 104 10334 10534 1021 2 103 1021 21031 2 104 1041 2 10412 10514 10514 10512 1053s 106 10334 10512 Delano Lanrl ... ..••••••••• 5 --·· •••• -·-· • ••.•••••••••••••••• ________ --·· •••• --·· •••• 1037810378 •••••••••••••••••••••••••••••••• Easton & Amboy •••••••••• 5 1051410514 106 106 ____ •••••••••••• 1071210712 •••••••••••••••••••••••••••••••• 109 109 •••••••••••••••• Edison Elec Lt stk tr certs .• 510412105 •••••••• 1041410414 10212104 104 105 10514106 •••••••• 107581075s ••••. •••• 106 106 1061210612 107 107 El & Peo Trac-Trust rects.4 8534 9212 90 92 8812 90 8914 93 92 93 8934 9214 8912 94 9234 9314 *90 92 9114 9212 92 93 9112 9312 Elmira &. Williamsport, lst.6 1001410014 •••••••••••••••••••••••• 1041210412 •••••••••••••••••••••••••••••••••••••••••••••••••••••••• Income 2862 ••...•..••.• 5 •.••••••.•••.•••••••••••••••••.. 104 104 ••••••••••••••••••••••..•••• --·· •••••••••••••••••••••••• Equit Ilium Gas-Lt, lst .... 5 103 105 10412105 1041210514 105 10534 106 10634 107121071210514106 107 10733 106 107 106 10712 107 108 •••••••• Ft Wayne & W V Trac ..... 5 .... .... .... .... .... .... .... .... .... .... .... .... .... .... .... .... .... .... .... .... .... .... 8712 8734 Hestonville Pass, cons ..... 5 .... .... .... . ................... 1071210712 •••• 86 •••• Holms Tacoma & Frank .... 5 .... .... .... . ...................... . •••• •••• •••• •••• •••• .••• -··· 86 Hunt & Broad Top, cons .... 5 .... .... .... . ... 100 100 1001410014 •••• Ind North Traction, lst •••• 5 9512 96 •••• • ••••••••••••••••••••••• Indianapolis St, generaL •• .4 80 80 81 82 •••• 82 8314 8314 8414 84 84 84 8412 8412 8412 8434 8434 8434 8512 .••• lnterboro-Metropolitan ••• 4½ •••• •••• •••• 6712 6712 •••••••••••••••••••••••• 69 69 •••• • •.• 75 75 •••• Inter-State Rys, 1943 ••.•• .4 5034 53 44 50 42 4712 39 4214 3714 39 37 40 3714 3834 3412 37 34 3614 34 3812 37 3912 39 4112 Lake Superior Corp, Inc .••• 5 22 22 22 23 20 2912 29 3612 27 28 •••• •••• 28 28 3014 32 30 30 30 32 32 44 40 5llz Lehigh Valley, cons ..... .4 ½ 104 104 ••••••.• 104 104 •••• • ••••••••••• 1061810618 •••• Registered .......... -4½ ........ 104 1045g 104531045g •••• • ••• 104 104 104 104 ••••••••••••••••••••.•••••••• 1st ext 1948 ............ 4 ................ 104 104 ••.• • ••••••••••••••••••••••••••••••••••••••••••••••• Registered ............. 4 ................ 104 104 ••.••••••••••••••••••••••••••••••••••••••••• 2d registered, 1910 ....... 7 107 107311 10434108 105 10514 106 10612 •••••••• 10678 107 108 108 1041210412 ••••••••.••••••. 106 10612 1061210612 Cons M, 1923, registered.. 6 -·-· .......• ··-- 11712117121201212012 1171212033 .••••••••••••••••••••••••••••••• 120341203-1118 118 119,411914 do coupon •••••. 6 116 116 •.••..•• 1181211812 .•••••••• • •••••••••••••••••••••••••••••• 1201212012 1211412114 •••••••• 1191211912 Annuity ••••.••••••••••• 6140 142 143 143 •••••.•.•.•••••••••••••• 14314 14314 •••••••••••••••• 1461214612 •••••••• *14612 147 •••••••• Annuity ••••••...•••• -4½ ..•••.•• 1091210912 ••••••••••.•••.•.••••••••••••••••••••••••••••••••••••••• 1141411414 115 115 •••••••• General con sol 2003 .•••• .4 8714 9414 92 9312 92 9314 9314 953s 9212 94 9334 9412 941 2 96 9512 9634 9614 98¾ *96 9912 9712 9814 9li18 9812 Lehigh Valley Coal, lst .•••• 5 10412108 107 109 107 10834 107 10812 10734109 110 11034 10734 10814 1081410834 109 10914 10914 110 1091411073 1107s 11071 Lehigh Valley RY, 1st ••. .4½ •••••••••••••••• 10278102781021210212 •••••••• 102 102 1031 2 10312 1041210512 106 106 1073410734 •••••••••••• Lehigh Valley Trans, cons . .4 •••• •••• •••• •••• •••• • •••••••••.• 5114 5S 58 60 Maryland SteeL .•.•••••••• 5 •••••••••••••••• 99 99 •••• •••• •••• •••• •••• •••• .••• •• .• •••• • ••••••••••• 1031410314 •••••••• Newark Consol Gas ••••••••·5 •••••••••••••••••••••••••••••..••••••••••••••••• 103 103 •••• • •••••••.•.••••••••••••••••• Newark Passenger ......... 5 104141051210412106 •••••••• 10512105121065310653 1071410814 •••• •••• •••• • ••• 1071210712 •••••••• 1081210812 NY Cent-LS & MS deb . .4 92 92 ••.• •.•• •••• • ••••••••••••••• NY Phila & Norf, lst ...... 4 95 9558 9712 9712 •••••••• 97 98 •••• • ••• 100 100 •••• N & W Poco Coal ......... 4 8334 8334 •••• • ••• 1051210512 •••• North Cent, cons, 1925 ... 4 ½ 1051210512 •••• • ••• 111 111 •••• 2d gen, Series A, 1926 .••• 5 ••.••••••••••••• 1103411034 111 111 •••• 2d gen, Series B, 1926 •••• 5 108 108 •••••••• 1103411034 •••• • ••• 1031410314 •••• North Pacific prior lien ..... 4 .... .... .... . .............. . • •••••••••••.••• North Pennsylvania, lst ... -4 10314105 ••.• General, 1953 .......... 3.3 .... .... .... . ........... 90 90 •••• Pa & NY Canal-Cons,1939.5 .... .... .... . ... no 110 ll4 114 •.•••.•• 115 115 •.••••••.•••••• • 115 115 •••••••••••• Consol, 1939 ........... 4½ .... .... .... . ........... 1061410614 1071210734 •••••••. 108 108 108 108 •••••••••••••••••••• Consol, 1939 ............. 4 97 97 ••••••••••••••••••.••••• 98 98 •••••••• ••• •••••••.•.••••••••••••••••••••••••••••••• Pennsylvania-Gen.1910 cou 104 10412 10412106 10414105 •••••••• 1051210512 •••••••• 103 10312 104 104 •••••••••••••••• 1051s 10513 •••• ---do registered •••• 6 •••••••••••••••• 105 105 10314 1031 2 •••••••••••••••• 10312 1031 2 ••••••••..•••••••••••••• 1033810312 104 104 Consol coupon 1919 ••••• 5 109 109 •••••••••••••••• 10778 10778 •••••••••••••••••••••••••••••••• 1081210812 •••••••• Hl83-110914 110 110 Consol, registered, 1919 .. 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 107 107 •••••••• •··· •··· --·· Trust loan.1913 •••••• .4½ 1003410212 •••••••• 1013410134 •••••••••••••••••••••••••••• ==== ==·· ••.• 1021410214 •••••••• 102 102 •••• ·--Consol. 1943 ............. 4 ........ 103 103 ••••••••••••••••.••••••. • • • • • • • • • • • • • • • • 102~8 10234 .•.•••••••••••••.••• -··· •••••••• 1 Cons, 1948 (when issued) .4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1003g 10134 .101 1013g •••••••• 102og 104 10378 10418 104121053s 1033g 1037s 10378 105 8 97 m~=======:~ .943~ io· .907g .9112 ·02· .9212 .93¾1 ~f7g ~~12 ·oa1:; .94¾ .947g .9412 .9.41; • • ~~ .947g P W &. B trust certs, 1921.4 9612 9712 97 9712 9634 9712 971 2 99 99 1003s *981s 10014 9934100 •••• 100 100 100 10114 101141013g *9912 991~ Pennsylvania Co, 1916 ... 3 ½ .... .... .... . ... ···- ............ 9778 9858 967a 973g 973g 971z 1937 ................... 3½ .... .... .... ·-·· .... -··· 8712 8712 ··-- ·--· --·· --·· •••• ··-1906 .................... 4 94 94 ···•••. ·-·- ·--· · ··- •••• ·--· ··-- •••• ··-- ··-- ·--- ~~!:~::~::: 105 105 ·--- .... .... .... .... .... .... ·go· ·sg· ·go· 1931 .................... 4 ........ ···- Penn & Maryland SteeL .••• 6 Pennsylvania Steel, lst. ••• 5 People's PassengerStock trust certs 1943 .... 4 Phila Bait & Wash, lst. •••• 4 Philadelphia Co, 1st •••• ••• 5 Consol & collateral trust .• 5 Phila Electric-Trust certs •• 5 Trust certificates ..••••••• 4 Philadelphia & Erie, 1920 .•. 5 General Mortgage, 1920 •. 6 General mortgage, 1920 ••• 4 Philadelphia &. Reading- 103 103 •••• •••• •••• ~~!; ·gs· ··=· .... 9212 9212 •••••••• 10914110 10912 llO 110 11014 • ••• 1021210212 ---- ·-·· •••• --·· ·-·- 94 94 97 97 95 9512 95 97 ••••.•.••..••••••.•••..• 104 104 10112 1037s 102 1031s 100 10212 103 103 9014 96 9334 97 94 95 9434 . 99 9512 98 97 98 9712 100 9734 100 6414 68 66 68 66 68 551 2 70 106 10758 108 108 ••••••••.••••••• ••.• •••• .••• ••.• •••• •••• •••• •••• •••••••• 101 101 100 101 •••• 961 2 961 2 96 103 10312 9514 951 2 9934 1001 2 591 2 7134 109 10934 •••• •••• 100 1001 2 ~!~ 110 110 ·=~~ ·os· 11012111 11012111 •••••••• ···- 9614 95 1031 2 104 95 96 993410034 69 7134 •••••••• •••• •••• 9612 9434 9434 95 95 96 9712 97 99 9812 99 •• •••• •••• •••• 104 10434 105 105 10134 10134 103 104 lll4 104 104 105 95 97 97 11734 9714 9812 9812 100 9714 99 981s 9812 9934101 9978 102 100 10114 100 - 1007s 1001210234 10112102 69 1018 68 7034 681:i 703s 695g 7312 731g 757s 7312 7612 llO 110 •••••••••••••••• •••• •••• •••• •••• •••• •••• • ••••••••••••••••••.•••••.•••••••• .!'.1201212012 • ••• 1011210112 •••••••• 100121001 2 •••••••• 102 102 Consol, gold ............. 6 104 104 •••••••• 105 105 •••• • ••• 1041 2 1041 2 .•• • • ••• 1061210612 ·-·2d, 1933 ................ 5 .... .... .... .... .... .... .... .... .... .... . ... . ... 11534116 •••• Imp M, ext. 1947 ....... .4 .... .... .... .... .... .... .... .... .... .... .... • •.. 101 101 •••• Consol, ext. 1937 ......... 4 ..... ............ 96 100 •••• .•.• •••• •••• .• • • •••• •••• • ••• --·· •··· •··· •··· •••• ···Consol coupon,1911 •..•. 7 ' 107141081s108 108 108 10834 1091 2 1091 2 •••.•••• 10634 1011 2 1011 2 108 •••••••• 109 109 109141093sl095sll01410634107 Consol, registered, 1911 ... 7 1067g 10712 10734 10818101a4 10838110918 10914 .•.••••• 10712 10112 1011 2 1011 2 •••••••••••••••• 1093g 1093s 1093g 1093s •••••••• Reading TerminaL ....... 5 ll4 11514' 115 ll5 11514 11514 ••.•••••.•••••••••••••.• ll61 2 117 117 117 •••••••••••••••••••••••• 120 120 Phila Wil & Bait, deb, 1932.4 ........................................ 1001410014 •••••••••••••••••••••••• •••• ···- •••• •••• •••• .... . Pitts CC & St L,Series E 3½ • ••• •••• •••• •••• •••• •••• •.•• •.•• •.•• ••.. •••• •••• .••• 9234 9234 •••••••••••••••.•••••••••••••••• Reading, 1997 •••••..••••. .4 *93ls 97 94 96 94 9514 . 95 9714 97 9878 981 4 99 •97 98 97:,8 985s 9834 9934 995g 100 9978 100 997s 1021s Jersey Central collat. ••• .4 8614 93 93 94 92 94 5 ·9·4·1 ·9·5·1· 29 371 9283 RRiohGr t& ERagl!'._ PL~shs't 1st ···5 oc es er ya. 1g ••.•.• 2 2 2 9714 9712 Schuyl R East S, 1st 1925.5 •• ;, ••••• 10014 10014 •••• •••• Second Ave (Pitts), 1934 ... 5 103 10312 104 105 105 105 Sunb Hazle & W, 1928 ..... 5 1011410114 •••••••••••••••• 2d 1938 ................. 6 Spanish-American Iron, lst.6 Susquehanna Coal ......... 6 Union Pacific 20 yr conv ... 4 93 94 74 72' 7312 70 •••• •••• • ••• •••• • ••• •••••••• 107 107 100 100 •••••••• 9334 94 ···1 ·9·1·1· 97 4 4 9934 9934 *105 105 100 100 94 95 •••• •••• •••• 9934 9934 •••••••• 101 101 . ................................... 119 1201s .... 9834 9912 9914 9912 1001210034 101 101 98 98 .... .... .... .... United NJ gen 1923, regis-4 •••• United Rys, gold tr ctf, '49.4 70 United Rys Inv of San Fran1st coll trust, 1926 •••••• • 5 60 921 2 94 . .............. . . ........... 91 91 • ••••••••••••••• 71 6912 70 69 6912 *67 69 66 711 2 •741 2 73 74 7134 75 7134 6612 701 4 661 2 71 78 70 •••• 95 9512 9618 98 1~~'!t.'.1!===i Westchester Lighting •••••• 5 West N Y &. Pa, lst •••••••• 5 Oeneral ••••••••••••••• _ .4 .67 • •69 •• 6712 ·10· .6si2 .69••• 68. 72. ;:lg *701; 6912 •1·~~ ·1·oi; 71 •••• • ••••• •••••••••••••••••••••• 9912 9912 •••••••••••••••• •··· •••••••••••••••• 11oa4 11114 11114 11114 112 1121 2 •••••••••••••••• 1121211212 •••• 831 2 88 89 8914 88t8 89 8614 8634 8614 891 2 8934. 90 9058 9058 92 9214 9414 95 •Ex•lntere st. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis i~lg ·10· 0 ·9·83·4·ogi4102· 1021, 10212 1003410034 1021210212 •••••••• •••••••••••••••• ···- •••• 10312104 •••••••• ···- --·· 7134 7312 73 7614 7612 8034 7734 83 8212 863.t 78 18 18 101121 0 2 • • •• i8;!! i8i i8~: i8i12 i8~ i8~ .~~~ •8•8~~ 1g:18 lg~! 1g::: 1~f8 .:~~8 •9.~~ 1~:;: 1~i12 1~f8 1~i58 .:~~ •9•9~~ ~~~. IOO 0 9812 .971,." • ••••••••••••••••••••••••••••••••••• 1021210212 6634 6412 65 6412 65 6412 7212 721g 7514 76 7634 Hn~t~~e~r~g~~Jt~b!~!t=::: ~=.~i~~~i: 9534 965g 9634 9834 98 -.·.·.·•• 9.514 ·9·53·4 ·951.. ·01·· •••• ,. •••••••• 10012101 •••••••• ---•••• ·-·· ···- •••••••••••• •••• •••• •••• •••• 1261412614 •••• •••• 991g 9978 100 10134 •••• •••• •••• 1033410334 ·10• ·;;i• 72l4 75 93 95 73lz 79 95 75 7578 --·· 1161211611 9514 9512 97 PHILADELPHIA BONDS AND STOCKS. 127 PHILADELPHIA BONDS IN 1908-CONCLUDED. BONDS J~•"'• F-=, I Ma,"' ~::!el!rs~:~~~~~:arJ~ii::::: W Jersey & Seasbore,1936.3½ Consol 1936-----·-···-·-4 Wilkes Barre Gas & Elec.-.5 Wilm & Chester Trac, 1918 •• 5 .,_,,. Mau Jom ,,., .,__, sq,_,, oa.,,. N~~,,. D""""" ---- ---- ---- ---- Low Hv;h Low Htoh Low High Low Hv;h Low Hf,(Jh Low High 'Low Hf,(Jh Low Hf/Jh Low Hf,(Jh Low Ht,gh Low Ht,gh Low Hl{Jh -------------1-----1- - - :::: 86 ---9814 9812 ---- ---- :::: :::: 86 90 90 ------- ---9814 --·- ____ ---9812 99 99 9712 ---- ---- ---- :::: ------____ 9712 :::: ------100 ____ :::: ------100 10 10212 ioi1; ~~~ _ _~ :::: :::: :::: :::: :::: :::: :::: :::: :::: :::: :::: :::: ---- ____ 9312 9438 ___________________________________ _ ---- --·- ---- ---· ________ 1005s l0OSs ________ 10114102lz --·- ____ --·- --- ____ ____ ____ ____ __ __ ____ 100 100 102 102 ______ __ •••••••• CANAL Chesap & Del, 1st mtge._ •• 5 Lehigh Navigation, exL-.4½ Fund and lmpt, 1948 ..... 4 General mortgage, 1924.4½ Consol, 1911-·---·--··-·· 7 50 50 •••••••• ---· •••• 52 52 •••• ____ 5~ 58 60 101331013810212102121021210212 •••••••• 1021410212 •••••••• 102 60 103 •••• •••• ---- 102 102 ---- ........ 9934 9978 •••••••••••••••••••••••••••••••.•••••••• 100 100 •••• ---· .... -·-- ---- ---- .... ---- -·-- ................ 1021210212 ••••••• • ____ --·- •••• ·--· ____ •••• 104 104 107 108 1071210812 1081410812109121091z 1091410914 10634107 •••••••••••• ____ •••••••• ____ .••• 1095s 1095g 107 107 PHILADELPHIA STOCKS IN 1908. STOCKS. January Felml,ary March .Aprtl May June J'llly August Sept4rrUJn October November Deumbtrr Prtce per share, not per cent.Par Low Ht,gh Low Htuh Low High 'Low Ht,gh Low Htgh Low Htgh Low Ht,gh Low Hf/Jh Low Ht,gh Low Ht,gh Low Ht,gh Low Hl{Jlt - - - - - - - - - - - - ·1-----1- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -----1----- Alliance Insurance •• ·-·-··10 13 13 Amalgamated Copper __ ._100 463g 5334 Amer Acadamy of Music •• 100 •••• American Cement. •••• _ •• 50 34 35 American Gas of N J ••••• 100 •••• Amer Pipe Manuf ••••• - •• 100 •••• American Railways .• _ •••• 50 43 4312 Bell Telephone (Pennsyl v) 100 96 98 Bell Telephone (Phila) • __ .50 461e 49 Brooklyn Rapid TransiL-100 39 47 Cambria Iron_·-·--··---·50 4312 45 Cambria SteeL ••• -·---··-50 2712 3013 Catawissa, 1st pref__ •• __ .50 535g 55 2d preferred·--·--···-·-50 •••• •••• Cons Traction of N J._._.100 6114 69 Continental Pass.-$20 paid. . . . . . Delaware Insurance •• -·-··10 25 2518 East Pennsylvania .• ·---··50 i7 i7 Edison Electric LhthL.-.100 •••••••• Electric Co. of America •••• 10 81211.6834 Scrip·--··---·····-----·· .•• ••••• Electric Storage Battery._100 29 3238 Elmira & Williamsport--··50 •••••.•• Erie -····--····--··-···100 1sia 1618 Fairmount Park Transport.. 8 8 Frank & So Pass •• ·-·--··50 380 382 Oeneral Asphalt trust ctf -100 31! 5 Preferred trust certs_._.100 197a 25 Oermantown·--··-··----·50 120 120 -Oreen & Coates·-·····-·-·50 •••• Har PM J & Lan.·-··--··50 •••• Hestonv Mantua & Fair.-.50 ••.• Huntingdon & Broad Top.-50 13 14 Preferred ·--- -····-·--· 50 50 5012 Indiana Union Traction._.100 •••• •••• Insurance Co of N A._. ___ 10 .io14 21 Int Sm Powder & Chem ••• 50 10 10 J. G Brill Co (The> ·-·--··100 •••• •••• Keystone Telephone._ •••• 50 412 5 Preferred -····---·-·-··50 20 20 Keystone Watch Case •• • 100 •••• •••• Lake Superior Corp._. __ .100 4 53s Lehigh Navigation •• --.- -. 50 81 89 ---- •••••.••••••••• ·••••• 13 13 •••••••••••••••• 12711 1278 ••• ••••. 12 12 12 12 • ••• ---4738 52 4934 6218 57 6138 6014 6878 653s 6818 6818 1118 75 83 69 8078 ••• • . ••• 7934 8814 775s 847a • ••• 360 360 370 370 •••• 33 35 3212 33 3212 33 3234 33 3212 34 34 35 35 3512 35 36 3412 36 35 37 37 43 • ••• 96 96 .••••••. ••• • •••• •• •• •••• • ••••••• , •••• ·--· •••• •••• •••• •••• •••• •••• • •••••••••••••••••• 115 115 ••••• ••• 43 4312 4234 43 4234 4434 4458 4434 4438 445s 431 2 4438 44 46 441 2 45 4318 4434 44tz 4612 4512 4& 9434 98 9312 95 9234 9414 95 97 96 10012 9812 9918 9912 10012 9934 101 9812 10012 99 10012 l00lz 1041z, ••.•••••••••••••••• •••• ••••••••••••••••• ·--· ••••••••••••••••••••••••••••••.• -··· ··-- •••• 3834 461g 41 477s 4414 4838 4612 5338 4434 50 4813 5234 5034 57¾ 4412 55 . . . . . .. .. 5173 56111 55 695& 44 45 4512 46 4512 4614 45 46 45 4512 45 451 4 4512 46 451 4 4614 4514 46 4512 47 461z 47 2678 2812 2738 3012 2814 30¾ 2912 3112 30¾ 3112 313s 3673 34 385s 3412 3873 3512 31134 30 4014 3734 4012 56 56 55 5514 55 56 *5414 5414 5214 5214 53 54 54 5412 55 55 56 55 5514 *5634 5634 57 1& •••• 54 54 •••• ••.• 53 53 52 52 52 52 5312 5312 54 55 55 55 54 5534 5534 57 64 66 64 6512 65 6812 70 71 6912 71 675s 68 6734 6912 67 68/lg 67 6Ul2 69 7512 75 7534 • ••• 127 127 ••••••••••••••••••••••••••••••.••••• 21 23 24 • • •• ···- 22 22 2212 2314 2312 2312 2212 2412 2373 2414 2412 2412 •••• •••• 21 •••• 6712 67lz, 65 65 6412 65 6412 67 •••••••• 67 67 .••••••••••••••••••• -··- -··· --·- •.••••. •••• .•••••••• 134 134 -··- •••••••••••• ·-·· ••.••••• 812 914 871 913 9 97s 953 1014 978 1078 •10 107s 973 1013 973 1013 912 10 934 107s 1012 1114 ···- •••• -··· -··- •••• ••.• •••• 75 83 •••••••••••••••• ···- •••••••••••••••••• •••••• 2412 29 25 30 28 3014 29 3312 3034 3212 3012 39 3734 4012 34 39 35 37 36 4~12 42 4712 ··-- •••••••••••••••••••• 51 51 4812 4812 .••••••••••••••••••••••• _ •• -·-· ............. -··· 1253 15 1253 1614 153s 1873 19 2318 171is 2312 19 2s1s 2234 2434 24~s 311-1 2912 3273 3112 357R 32 3534 8 8 8 8 ---· -··· .••• •••• •••• •••• •••. •••• •••• •••• 734 734 •••••••••••• ···- 7 71z 383 390 383 383 37912399 391 397 -··· •••• 390 390 390 390 •••••••• 380 386 385 3877s 380 390 4 478 4 5 4 5 414 47s ···4 55s bl2 7 5 634 5 634 634 1134 10 193& 2212 2314 23 2314 22 23 2114 227s 22 225s 2212 2414 25 2912 2612 29 2612 30 2934 45 42 5912 •••• •••• •••• •••• ·--- 119 119 • ••• 120 120 ••.• • ••• 91 91 •••••••• 9134 9134 ··-· 42 •••• 42 • ••••••••••••••• 13 13 •••••••• 13 14 •.•• ••.• •••• •••• •.•• • ••••••••••• 5014 51 51 51 50 51 50 50 50 5112 45 50 41 45 38 38 31 3&14 38 4112 43 4334 •••• •.•• •••• •••• 914 10 11 1112 1134 13 ···20 2038 20 2014 20 2014 2013 2112 21 2412 211 2 22 211 2 22 21 211 2 2014 2034 2034 22 2112 22 •••• •••• •••• • ••••••••••••••••••••••••••• ··-· ••••• . •••••• ···- •••• 1012 1012 .• • • •.•• ••.• •••• •••• •••• •••• •.•• ••.. •••• •••• 25 25 434 5 5 5 5 5 5 9 512 578 514 512 512 8 534 612 612 9 112 834 ~12 : 2 2 24 24 •••• ·--· 20 20 •••••••• 20 25 -··- •••• •••• -·-· 2514 2812 24 24 2412 25 •••• •••• •••• • ••• 102 102 •••• 35s 47s 378 7 7 914 412 734 5 578 514 7 .061 4 6 718 534 7 5 814 8 131,, 1173 17 8212 85 84 89 84 89 85 9034 87 8934 88 911 2 90 917s 90 9034 90 92 901s 97 • 9512 97 11 14 fr~!:!\ertifi~-tes=:::::= 7814 °g93~ .83 • •861~ -8,334 ·sg· :gl2 :;~ .87. ·g91; .875s .9212 .8934 ·02· .8912 °91- .8912 92 g912 9714 05l4 97¾ Lehigh ValleY-···---·-···50 553s 61 5258 57 5273 5614 54¾ 5934 5858 6312 6014 6234 6034 651 2 65¾ 6778 64111 6834 6534 11712 5514 72 6834 7634 L V Tran vot tr ctfs, Pref .• 50 •••• ••.• 15 15 13 13 12 12 1234 13 11 12 1114 1114 12 12 13 13 ··-· •••• 11 14 11 1534 Lexington & lnterurban.-.50 •••••.•• ···•••••••••••••••••••• -·-- ·-·· ···- •••••••••••••••••••••••••••• ···- •••• 712 712 Lit Brothers···--··-·-· _.10 •.••••.. 16 16 14 14 •••••••• 15 15 •••••••••••••.•••••••••• 15 16 •••••••• -··· •••• 16 16 Little SchuykilL- ···-·--- 50 5412 55 ··-· •••• 5434 55 5534 56 56 56 5514 56 -··· •••• 5612 5612 5412 55 56 56 56 58 5712 571t Manufactured Rubber--· - .10 •••••••• -··- •••• •••• •••• •••• •••• •••• •••• •••• •••• •••• •••• 12 12 •••• •••• •••• 1,, 73 • ••• · · ·Preferred -··--···---·- · 10 •••• •••• •••• •••• .••• •••• •••• •••• •••• 434 434 •••• ·-·· Marsden Co-·--···--·--·100 15·16 114 1 118 1116 1318 13·16 273 138 134 138 15s 1121.8114 11 2 178 1.5614 153 15s 218 2 214 1.9334 211 Minehill __ ·---·-·--··-·-50 57 5812 58 59 58 59 5834 60 5834 59 5712 59 5734 581 4 58 50 531 4 59 5912 50 60 6212 6212 631a, Morris Canal. pref ...••.• 100 •••• • ••••••••••• · - ·· •••• 170 170 -·-· -··· ••.••• •• New Haven Iron & SteeL ••• 5 -·-- •.•• •••• ···- •••••••••••••••• ···- ••••••••• --· -·· · •••• •••• •••• 2 2 •••••••• ---· •••• NY Phila & N trust rects •• 50 115 115 •••• • ••• 130 135 •••••••••••••••••••••••• ··-- •••••••••••••••••••• -··- •••• ---· •••• • Norfolk RY & Light. _____ .25 .••••••••••• -··- ••••••••••••••••.••••••• 1612 17 18 18 ••••••••••••••.•...••••• 1812 1812 1812 181! Norristown.·-----·····-·50140 143 143 143 143 144 14413145 *1441461214412145 144121441 2 145 146 145121451214614 150 150 150 •••• ·-·· Northern CentraL.·--·---50 8114 8512 84 84 84 84 85 8714 •••••••• 89 9134 •••••••• 9234 0234 9412 9412 9412 95 95 99 9812101 North Pennsylvania._. ___ 50 98 99 98 99 9712 9812 99 9912 100 101 ·-·- --·· 100 10014 1001410012 100141005s 100 l0Ol310012101 1001! 10112 Penn Traffic_ ••••• ··---.2½ 214 214 ••••••••••••••••••••••.••••••••• ··-- ···- •••• -··· •••.•• • ••••••••••••• ---· --·- •••• 1.9334 2 Pennsylvania ····---·····50 5458 5834 5434 5612 5573 593s 5734 6034 591g 62 5973 6112 6014 6318 61¾ 6314 5973 6278 607s 6312 63¾ 55,,3 641366 .0614 · Penn Salt fl\fg.-·-· ···--··50 99 101 100 101 98 101 98 100 100 10014 100 10012 100141001210012101 105 10612 102 1033410412110 106 110 0 pi~~t:r'r~~ru_a__ ~~e_e!======fgg Pennsyl Warehousing •••• 50 Phila City Pass •• $23¾ paid Philadelphia Co •• ----····50 Preferred --·-·----··-··50 Phila EleC---··-·-$13 ½ paid Phil Rap Transit .• $42½ paid Philadelphia Traction .•••• 50 :~n~1e:~h~: geJ:..«;3~~~==~~g Reading·- --·-------·-·-50 1st preferred ····---··--50 2d preferred __ -·-- ._ •• 50 Ridge Ave Pass.--$28 paid Rochester RY & Lt, pref.100 Id & 3d St Passenger .••• -50 Southern Pacific Co._ •••• 100 5outhem RailwaY--·-·-·100 13th & 15th Streets •••••• 50 Tonopah Belm DeV--··----1 Tonopah Mining •• ·-··--···1 Union Passenger •••• ·-···50 Union Traction_. _______ •• 50 Union Traction of Ind----100 United Co's of N J._ •••• 100 United Gas Improvement •• 50 United Rys of San Fran •• 100 Preferred --··-·--·---·100 U S Steel Corporatioo •••• 100 Preferred • _ ••• _. ·- _ ••• 100 Un Traction, Pitts, pref __ .50 Warwick Iron & SteeJ._._.10 Welsbach -·---·····-··-100 West N Y & Penn-··---·-50 W Jersey & Seashore_. __ .so Westmoreland Coal--··-·-50 West Philadelphia--··--·-50 Wilke~Barre Gas & Elec •• 100 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis :i ti ·os· ·ss· .ii" ·sa· ·90· ·ss· .ii" "9212 .9312 ·9212 .9712 ·9a· ·9a· ·091; .9734 ioi1~ 18g 18~12.ggl218g iiiii- ios· 103lz io43, ••••••••.••••••••••••••• 70 70 •••••••••••••••••••••••••••••••••••••••••••••••• -··· •••••••• -··•••••••• 180 180 ••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••• ••••••••••••••• 3512 39 3512 39 3412 37 36 4112 39 4034 383g 39 3812*3912 3814 39 381J 39lit 38 •391.t 3834 4414 4238 4434 36 40 37 40 36 3712 37 4112 40 4114 40 4112 4012 4112 3934 4114 40 40 40 4112 4013 4412 44 44 11 d55a 612 512 6111 718 118 758811·16 81·16 873 812 z934 914 10 95s 1018 953 10 97a 115g 1114 12¾ 105s 12 1373 1838 14 1634 1438 1834 1634 1838 1438 1814 1218 16 1314 1712 1318 151 2 1312a217s a20 2412 20 235s 21 14 25lt 84 8912 86 8912 *84 8712 8512 89 89 92 87 90 88 90 88 89 8714 89 8818 901g 8814 90 89 91 -·5· --5· :::: :::: --3- ..i. -·4· .T 242 242 •• 414 -·41; -·4- --41~ 24 L2 24 518 7 512 512 6lz 812 778 47 5712 4614 515s 4714 5378 5114 5578 54 5953 5478 583s 5612 6118 6034 65 6058 6853 6314 6713 661s 7012 67 7371.&834> 39 42 40 41 40 42 41 42 41 42 40 4112 4178 42 4134 4;;p 8 43 4312 4312 441. 4414 45 44 14 .J.512 3712 4114 39 40 38 4013 3934 41 4012 43 41 42 4114 42 4134 4378 43 44 4214 4412 4214 4458 43 5s 4812 •••••••• 260 260 •••••••• 265 270 •.•••••••••• ··-· ••••••••••••••••••••••••.•••.••••••••••• -··- •••• 92 92 ..••• •••••••••••••• •.••••••••••• •••••• •• •••••• .• .•••••••.•••• ••• 9014 9()14 92 92 •••• •-·· ••••••• 260 265 250 250 270 275 •••••..•••.• ·-·- 275 275 275 275 •••••••••••••••••••••••• 270 270 ,•31" 7612 •••••••• 7112 7612 -··- •••• 795s 89¾ 85¾ 88 90111 92¾ 93121075s 100 1091210113109 1091212014116341213.t 1:13-1 1114 934 934 933 1463 14 1518 1514 19 1634 1773 1873 1914 1914 2014 20 235s 205a 2212 23 26 2434 27 2503425034 260 260 ••• • • •.• 265 276 ••.••••••••• ·- •••••••••• 2751227512 270 270 ••.••••••••••••• 281 285 34 1 .5614 138 113 2 l 1.4334 1 1.5614 .9334 l¾ 34 1 34 11.16 1 114 .9334 l¾ 1.0614.3114 .9334 l¾ 3735.3212 5 6 518 778 713 918 7¾8.8114 8 873 •714 814 7.0614 8 7 712 •614 7.4334 614 714 613 7 •••• ··-· •••••••••••••••••••• ···- •••••••••••••••••• .• •••• -··- •••••••• ·--- :..00 200 -··· •••• 200 200 49 52 48 4934 4778 5212 5112 5614 5014 56 4412 52 4853 527s 4712 SOis 45 4914 48-51 5212 4812 5214 4812 5134 ••• ••.• •• ••••••• ••••••• • .•••••••.••• ____ •••••••• 19 1914 2014 2014 ••.•••••••••• ••• -··· •• • ••••••••• 22912240 236 23914 23712240 240 24:.! 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BAL TIM ORE BONDS IN 1908. BONDS Janua111 =--= =--= =--= =--= =--= APTU March Februarv August July June May =--= =--= September __ -A-la-ba_m_a_C_o_a_l_&_l_r_o_n_______-_-_-_-5_ ,___- _-_-_-_99 Anacostia & Potomac------5 96 34 99 Ouaranteed ------------- 5 ---- ---- ---Atl & Char 1st extended--4½ ---- ---- 9812 Atlanta Consol Street------5 97 10014---8714 8914 so ~!:!:ti~~!!\ r::i~R-----4 CoCe~tif\~:t~~~~~i!~c_a_t~~==J ==== ==== ~~:m~::: 8686 8686 981210012 991 2 101 ________ 98 100 963s 98 99 98 99 ---- ---- ---- 101 10134 102 102 ---- ---- ---- ---__ ____ 99 9812 ____ ---- ___________________ _____ 99 ____ 1011210112102 102 ____________ ----10234 1031 2 10312 104 1 1 9514 94 9114 93 9234 9012 93 s112 ss 85 4 85 89 2 so -61- 63 -=~~ 2 9 01 _ _ _: ==== ---- ==== 95 95 9434 9434 ---- ~~!: ~~!: ~g ~i 5~i()~~=====J1-~~- _6_6:: -~~- -6-~1: South Carolina----------4 9012 9012 92 92 ---Augusta RY & Electric _____ 5 ---- ---- ---- --·· 95 Bait & Annap Short Line---5 ---- ---· ____ November December ~:12 ~f2 ____________ 95 ---- ---____ 9812 9912 ==== 9514 97 99 ==== 9514 9712 99 ~il2 ~gl2 ________ 98 98 99 99 g41 g41 s21 87 2 2 2 99 100 1001 2 101 101 10214 101 __ 1001 2 10112 102 1021 2 1023.i 103 __ 1001 1011 _______ _ ____ ____ ___ _ 4 4 1031 2 104 104 1041 2 1041 2 105 1011 2 1011 2 955s 951 2 9418 941 2 96 931 2 941 2 94 100 7812 7812 80 ---- ~g -~~- _7_7:: 98 ____ 98 96 99 101 ____ ---- ---- ---- ---Baltimore Brick ___________ 5 ______ -- ------- ---- ---- ---Bait Catonsv & EM 1st ____ 5 --- - ---- ---Balt City Pa ssentler 1st- - -- _5 1101 101 ---- ---- 102 102 . ____ _ ___ 10012 10114 ____ ____ ____ •- - - __ Certificates of indebL--4 ½ Bait Electric stamped ______ 5 Bait & Harrisbur" 1st------5 Balt & Ohio 1948---------- 4 Bait Refrhteratinit & Htg ___ 5 October ~~~~~~~~~~~~~~~~~~~~~~~~ 97 97 ---- ____ ---- ____ 101 ---- 72 ---101 ____________ 100 ____ 9812 9812 40 40 Bf!t'\!n°:~rm.1-~~!~-~~~eJ =~:- 102 Bait Sparrows Pt & Ches-4½ 92 92 Bait Traction 1st 1929------5 107 107 Brooklyn Rav Tran--------4 - --- ---Brush Electric 1st 1910-----5 ___ 1., ---- _ ___ 103 991 .. 991., 86"' 88. -8712 8712 ____ ==== -S:i12 10014 1001410014 __ __ ___________________ ----1 8712 88 72 -7234 7912 ·8214 90 soii -80- -~~~2 -83-- 8~- ~:12 :~14 ~i34 ~~12 ~~12 981 4 981 4 981 2 981 2 96 96 961 2 98 100 100 100 100 96 _ ___ ••.• _______ _ 73 601 2 601 2 65 70 ____ 70 ____________________ 105 106 10314 ____ _ __ • 1011 2 10112 102 102 ii; -g512 -861; -8414 -863~ 1---- ---- 1053410534 ---==== -__--_-_ ~0932 10932 _9_3__ -9·3-- 10963 1096314 _9_2_7_s _9_3_1_2 _9_3__ n31 2 9'.! \l23.1 921 2 03 91 93 ___ . ____ !!21 2 93 ---____ ----1081210812 1091410914 ____ ---- 1081210812 --·-- ____ 10956 10!!34 110 1101 2 11018 11018 1101 4 1101-11101 2 11112 _ __________ _ 76 ____ 76 _ ___ ____ ---- 7034 7034 1 ____ ____ ____ ---- ---- ------- ---- ---- ------- -7·5-- -1-0·· -1-o·- ·1 10761341078134 -1·1-12 8012 80 1101? 931 2 90 88 86 86 ________ 86 8534 86 84 85 75 ---- ---- ---- ------- ---- ---l 1 _ ___________ 1091210912 ___ _ ____ ____ ____ ____ ____ _ ___ 1091210912 ________ 1093410934 110 11112 ___________ _ ____ ____ 107 107 ____ ---- 111 111 ________ 1101411014 ___ _ ---- 1103111034 --- • ----1021210212 ---- ---- ---- ---- -- . . ---- -- - - ---- ---90 89 88 87 87 84 87 90 ________ 85 8812 89 8712 877s 88 86 86 83 83 83 83 101 102 ---- ---- ____ ---- 103 10312 ---- ---- _______ ______ ___ 10212102121041210412 106 106 1061210612 9612 9814 ---- ---- 1001410114 1021410212 103 103 103 103 103 103 105 107 1011 8 10112 99 98 101 101 ---- ---- ---- ---- ____ ---- 101 10234 ---- ---- ________ 102 102 ________ 10458 10458 1011 2 1011 2 10734 10;34 ---- ---- ---- ---- ____ ---- ---- ---- ---- ---- ______ __ lQ55s1055s ________________ 1031410314 _______ _ 108 108 108 108 ________ 10934110 10734108 108 109 1081 2 109 1os1 2 10s1 2 10858 10918 J 1016 11018 10914 1103g 99 10012101 102 ________ 100 10014. 10014 101 1011:il011 2 ________ 10312 10312 985s 99 98 991210014 97 82 ---- ---- ________________ __ _____________________________ _ ---- ---- ---- ____________ 82 98 ---- ---· ________________ 10012101 ________________ 10118 10234 92 ____ ---- 98 ---- ---- 91 951 2 913, 9134 ________________________ 96 90 855s 855s ________ 875s 8812 895s 895s 8973 897s 90 8634 8878 9534 7412 7412 ---- ---- ---- ---- ---- ---- ________________ 861s 861s 8612 8814 86 74 74 ____ ---- 102 10312 ____________ ---- ____ ---- 106 106 107 108 ________________________ 1101 2 11112 1021210212 1021410234 103 1033s 1033410414 1043410434 1021s 1025s 10231! 10234 10234 103 103 10358 10334 10414 10438 10434 107 10734 107 10712 1071210813 109 110 110 11014 10814 10814 109 110 11014 11118 11014 1101 4 111 111 111 11214 951 2 93 911 2 11212 93 9312 931 2 931 2 91 93 93 93 901s 8912 92 89 88 8712 8712 88 8714 88 Carolina CentraL----------4 . 75 4 76 Fire Brick--------6 1--- Carter Co Central of Ga-Consol------5 101 101 Central Ry- Consol 1932 ___ 5105 107 Extension and impt 1932- -5 ---1912 -------------------6 ---.Charleston Con RY O & E---5 ---- ---Charleston City RY lst-- --- 5 ---- --- Charleston & West Car lst--5 100 101 Charlotte Col & Autlext'd--.5 ---- ---2d 1910-----------------7 ---- ----City & Suburban lst-------5 105 107 City & Sub (Wash) lst-----5 ---- ---Coal & Coke RY lst--------5 ---- ---Coal & Iron RY lst---------5 ---- ---Colorado Southem---------4 821s 887s Refunding ------------4½ ---- ---Columbia & Oreenville-----610212103 Consolidated Oas 1910-- __ _6 10012 10212 Bonds 1939- _____ - _____ _ 5 106 10734 88 Certs of indebtedness---4 ½ 87 1 2 9212 ·--- ==== Con:o~ Gas t1ec & ;~;,~~=! ~ _::~ Consolidation Coal -------4½ - --- ---- ---- ---73 71 Cotton Duck 1st 1949 ______ 5 1 707s 75 Detroit United----------4 ½ - --Fla Cent & Penin Cons _____ 5 ------Florence Water Co---------5 ------'Florida Southern lst-------4 ---- Ft Worth & Denver City ____ &----<ieoritia & Alabama-cons--5 YO 90 <ia Car & North lst--------5 90 90 (Jeorgia Pacific lst---------6 10434 108 <iaSou&Fla1st1945------5 9934100 ==== ==== -79- _7_9_ -11i, -7-91; -77- -is- -7434 771! 93 747g 7414 79 7114 7114 69 ____________________ ---- ---- ---- 93 6712 7012 70 55 80 55 80 7314 7212 75 ---- ___ _ ________ 83 ____ ____ 83 73 68 8712 8712 88 ---- ____ ---- ____ 7512 7612 ________ 7814 so:2 69 69 88 88 741:i .9312 7434 70 8934 90 751g 80 7434 75 75 94 ________ 9212 9212 751 4 7958 741 4 77 77 7612 7712 75 7014 71 ____________________ 9112 9012 911s 913 93 87 80 94 94 7834 80 8012 8112 100 100 933 9512 4 4 _ ___________________________ 9934 931 2 10112 101 105 1031 2 105 99 9834 9812 90 98 9212 9412 9412 9612 97 100 91 88 99 10034 981210112 101as 10214 10134 10212 102 103 10314 10612 106 107 99 98 97 9014 943s 95 1051410514 106 106 ________________ 1091210912110121105s 11134 11134 ________________ 1111 2 11112 ___ _ ----100 1013410134104 1033410412102 10212103 103121031210312104 106 l0lil2107121071 2 111 4738 46 48 4314 43 43 4312 44 46 45 4334 46 44 4412 43 4014 40 415s 39 40 163 15 1534 ________ ________ 1334 151 2 1414 18 1434 1314 157s 1334 1512 15 1714 14 14 95 _______________ _8 95 ---- ________________________ ----1041210412104 104 104 104 ____ ----105 105 _______ _ 100 101 101 1031410334 l00 101 _ __________ _ ----115•211512115121tfil2 ____ _ ___ 9514 9514 94 ____ __ __ 91 95 ---- 95 96 ____ ____ 1181s 1181s ___ _ 96 95 96 95 ___ _ 91 ____ ---- 91 ____ 90 90 ____ 95 95 9112 91 91 ____ ____ ___ _ 86 86 - - -9134 ---6214 621~ 62 58 58 6112 58 60 61 ____ 60 60 55 ---- 55 55 9114 9114 9111 9212 94 95 ____ 94 95 85 85 85 80 _ ___ 80 9512 9614 9614 9134 9212 9334 116 85 ____ 85 _ ___ ____ -··-- 94•2 9412 ---_ _ _ _ ___ 109 109 _ __ _ 1071210512105121081210812 ___________ _____ 1091210912 ____ _______________ _ ____ 9812 9812 ---______________________ _ ----1031210312---97 ________ ___________ _ ____ 97 90 90 ____ 9914 9914 3734 4234 <i-B-S Brewinit lst---------4 3934 40 1334 2d income------- - -------5 ________ 12 Hazard Wharf 1st _________ 5 ___ _ KnoxvilleTraction---------5100 Lake Roland Elev-ituar arold 5 ---Lexinitton (Ky) Street-----5 95 L & N-N O & Mobile Div--6 ____ Macon Railway & Li"ht----5 ---l\'\aryland Electric lsL-- ---5 ____ Maryland & Pennsylvania--4 ---Income ----------------4 ---- Maryland Telephone-------5 ____ :Memphis Street RY-- ______ 5 ---Merchants & Miners' Trans-4 -- -Metropolitan Street1925----5105 Minn St & St P cons 1928--5 - --- MononRiverlst ___________ 5 New Ol"leans Gas 1913 ______ 5 Newport News & Old Point -5 'Norfolk & Carolina lst- -----5 Norfolk Railway & Lig!it ___ 5 Norfolk Street Railway _____ 5 Norfolk & West conV-------4 North Baltimore Traction---5 Northern Central 1925----4½ Oold 1926 Series A-------5 Oold 1926 Series B-------5 Omaha Oas 1914-----------6 ____ ---- 90 89 ----1---- ---- ___________ _ 8934 90 ---____ ___ _ ____ 1113411134 ________ 11014 ll0l21111211112 _______ _ 9412 9612 95 9114 9234 91 91 9212 91 92 92 9014 9012 9012 90 9014 90 88 ___ _____ 104 105 ________________________ 1041s 104Is 104 104 105 106 10734 108 ____________________ ---- ___________________________________________ _ 1101 2 111 1101211212 Ill 113121131211312 1131211312 1133411334 ________ 115 ll512 ___ _ 1051210512 _________ _______ 1081210812 ___________ _ ____ ---- ________________________________ _ ___________ ___ _ ____ ---- ________________ 1101211012 ________________ 10934110 ____ _ ______________ _ ---- ---- ____ ---- 110 110 ________ lllls lllls ---- ---- 1093410934 ____ _ ___ 1055s 1055s ___ _ ___ _____ 1013410134 ____ 90 90 90 90 1st consol 1917----------5 - --Omaha Water Co 1946 ______ 5 ________ 6512 6512 ___ _ 92 ___ _ Pennsylvania conv ______ 312 ---- ----· 891s 891s ________ 92 ---- 110 11012 ---Petersburg Class A--------5 ---Class B _________________ & ---- _______ _ ---- llS 118 _ ___ Philadelphia Co-----------5 101 10114 Piedmont & Cumberland ___ 5 ---- ---- 97 97 ___ _ -- • - 1• -- ---- ---- -- -- 7612 7612 Pittsburgh & Allegh Telep __ 5 ---- ---- ---____ 10434 105 ________ 10614 10614 10678 1067s Pitts United Traction------5 - --- ---- ___ _ 88 87 105 104 104 ____ ---- ________ 8112 8112 10812 10812 1083411012 11012 11012 ____ ________ 102 ____ --.-1--.. ---- ---- ---- 111·_ 112-_ 1-------_ ---- ---- , ___ ___________ 5 105 105 Potomac&Valley ____________ Augusta--------&---Raleiith ---- ---- ---- 1171411714 ---- ---- ---- ---- ----1091410914 Raleiith & Oaston---------5 94__5s 99 _ ___ 10!!34 1093411018 11018 ___ _ ____ 10612108121081210812 ___ _ ____ ____ Ricb & Danville-cons-----& __ ____ 98 98 ---- ---· ---Debenture 1927 __________ 5 ---- ---- ---____ 1003410034 ___ _ Rich Fred &Potomac 1940-412 .. .. -- -- ____ ---- 110 no ---Richmond & Petersburg ____ 6 108 108 ____ ____ ____ ____ ____ ____ ____ ____ 104 104 ___ _ Richmond Traction--------5 10014101 ________________ 102 102 ________ 103 103 ________ 102 102 Roan oke & Tar Riv ________ & 9212 9212 ________________________________________________________________ ___________ _ Sav Fla & West lst--------5 1 ________ 1051410514 1061410633 1041 2 10612 108 108 ____ ----1091210912 ________ 111 lll ________________ trn 113 ____________________________ 1221412214 __ __ ----1241412414 ____ ----125131251312514125141251212512 1st 1934----------------6113 113 ----1---- 'Seaboard Air Line---------4 5034 53 10-year ________ ____ ____ 5 8412 85 3-year ___ ______________ 5 ____ 52 49 4312 4938 4612 50 8812 84 86 85 80 80 8512 90 ____ 83 86 _ ___ 100 100 100 101 10234103 _ ___ 9714 981 2 9812 9812 ____ 90 _ ___ 90 4334 50 ____ :Seaboard & Roanoke------ _5 ____ South Bound--------------5 ____ Southern-1st consol------5 ____ Income _______________ -4 Fundinit _______________ 5 Scrip - - - - - - - -- - --- -- - - U S Steel Corvoration------5 Va RY Elec & Devel lst-----5 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ~g34 4412 70 ------9212 ~~ 50 76 -- ----9212 5534 8912 90 10312 99 100 5914 6012 55 5912 57 56 9114 9112 92 9134 91 90 9134 91 9314 935g 94 91 ________________ 102 102 10034102 10212102121023410234 ____ ---- ---- ---- 1013410134 5514 54 9112 9112 9112 90 10314106 l0l 10134 ____ ---- 5012 66 5512 60 9514 93 93 90 95 93 93 91 107 108 1073410814 103 10514 ___ _ _______________ _ ---- ---- :::: === = ---- -- - - :::: -8634 -863~ :::: ---- ---- :::: ==== :::: :::: ---- 103 95 95 9112 9112 92 91 91 92 92 9114 92 89 .89 ____ 871 2 8712 87 88 f~~~l: ~r~tt'i~~~~=========: ==== United Elec Lt & PoW----4½ ____ ~~n:~ f;&s~l~t~l~=======! 51 8712 88 10312 99 100 -ii- 0 86 451 2 731 2 --- 88 94 87 481 2 75 ---88 94 8212 -86- -85- i6- -847g i61; 4534 5014 5014 5234 5034 53 7734 7612 7912 76 7234 77 -- --I.!- --- -----____________ ==== =--- ---- 86 -84- -86- 84- -8614 -8512 8612 85 -8612 5234 5414 5134 5314 5112 5312 5312 5512 5114 5334 7812 8014 7834 8034 8012 8312 7812 811g 82 79 ---- 7814 80 ---- ---- ---- ---________ ------- ---- ---- ---9712 98 ---- ---- ---- ---- ---- ____ 1021210212 97 8453 iis~ -8555 5034 5134 51 7512 763,1 767s 80 95 961s 95 -ii- 103 95 0 BALTIMORE BONDS AND STOCKS-CHICAGO BONDS. 129 BAL TIM ORE BONDS IN 1908-CONCLUDED. January February March Aprtl May June July Aug-zut September OctolJtr Nove:mlJtr De.cemlJe, High Low Htgh Low Htgh Low Htgh Low Ht,Jh Low Hf.(lh Low Htgh Low Htoh Low Htgh Low Htgh Low Htgh Low Htgla BONDS. uno ------------ ---- ---- ---- ---- - - - - ---- ---- ---- ---- ---- ---- ----Virginia Midland2d Series 1911-----------6 3d series 1916 ___________ 6 4th Series 1921- _____ _3-(-5 5th Series 1926----- -----5 General 1936 ____________ 5 -Wabash-Pitts Terminal----412 Wash&. Vandemere------4 ½ Washington TerminaL---3½ Western Maryland 1952 ___ -4 ----·-- 101 101 ---. _.. _. __ --- . __ __ 9834 99 103 103 ---- ---- ____ ------- ---- ------- ____ ---- 84 84 6212 65 Oen and convert 1952----4 ---- ____ Western No Car---cons _____ 6102 102 Western Pacific 1st_ ____ ___ 5 ·--· .... West Va Central 1st ........ 6 1001410212 Wilming Col &. Ault-••---·6101 102 Wilming &. Newb 1st--··-·.4 . ....... WU.ming&. Weldon 1935 .... 5 ...... .. 1935 ·········-·······-·4 -··· ___ _ ---- ____ ---- •••• 102 102 ·-·- ·--102 10212 ________ ·-·· .... 10512106 -·-· •••••••• ·--· •••• ···- 10512 10512 10218 102-;-8 ··-· •••• -··· --·· 10458 1045s ••••..•••••••••• -· ·· • ••• ··-· 1071g 1071g ---· ··-- -··· -··- •••••••• ·-·· 104 104 ·--· •••••.•••••••••••••• 1031210312 •••••••••••••••• •••• 1041210412 •••••••• 1051s 10514 ••.• ··-· 1031210312 •••••••• 1075s 1075s -·-- ··-· ---· 106 106 106 106 1061210612 ··-· ---- ---· •••• 46 4612 ••••••.• ··-· ••••••••••••.••• ---- ---•••• 93 94 9334 94 9334 94 ··-- ---· ---- --·· ···- ---- ·---·-- 9078 91 •••• -··· 901 4 901 4 9118 9118 •••• 94 94 501s 6514 633s 65 65 7214 ___ _ •••• •.•• •••• 74 74 7434 7612 7514 7612 ·-·- ·-·· 80 84 30 34 -·-- ____ --·- --·· ···- •••••••••••••••••••• -··· •••• -··· ·-·· ---- -·-- 5512 61 102 102 1051410512 106 10614 ··- - --·- 105 105 ···- -··· ··-- --·· 1081g 1081g ---- ---· ---- ------- -··· ---· --·· ......... .. . ---· ---- ---- ---- -·-- 8512 8712 ·--- ---· ---- ···- ---· ---100 100141021210234 1021210312 ···- ---- 102 10212 10212 103 10312 103s8 10312 104 1041s 1043s 1043-110512 102121021210514105141041210412 •••• ---- 103 103 1031410314 ---· -··· ·--- -·-- ---· ---- 10214 10214 -··· ---- ........ 90 90 •••• 106121061210712109 110 11014 -··· ·--· -·-· .... ···- ·-·- ....... . ··-- 9512 9512 -·-- ·--- 97 --·- ___ _ BALTIMORE STOCKS IN 1908. STOCKS Priee per snare, not percent. January Feb1ua111 March Aprtl May June Jul,71 August SepteTTiber Ocwber Par Low Htgh Low Htgh Low Htgh Low Htgh Low Htgh Low Hf{Jh Low Htgh Low Htgh Low Htgh LlJw Hl,(/h *TJe:mber De,cemlJer Uftw Htgh Low Htgh -------------,---- ---- ---- ---- ---- ---- ---- ---- - - - - ---------31 36 41 37 37 Alabama Cons Coal&. I ••• 100 Preferred .•.... _ •••••• 100 Atlantic Coast Line(Conn) 100 Atlantic Coast Line RR ..• 100 'Baltimore Brick. __ ._-· •• 100 Preferred . - . - - • _ - - .. - • 100 Baltimore Electric, Pref ••••• Baltimore Foundry ••••••••• Bait&. Harrisburc 1st oref.50 Baltimore&. Ohio •••••••• 100 Bay State Oas-·-····-· ·-· 50 •Canton Co -···-·-···--·-100 ·Comas Cig Machine -··-··100 Preferred .•.•••••.• -· _100 Consolidated Cotton Duck-50 Preferred • - • - ••• - - - ••. - 50 Cons Oas Elec L &. Power.100 Preferred ·-·····--···-100 •Consolidation Coal----•-.100 'Erie ••. - ••..• - •••• - •••• 100 1 Frederick Turnpike.-· •••• 20 <ieorires Creek Coal&. I ••• 100 Georgia Southern &. Fla--100 1st preferred .••••••• --100 2d oreferred·-·--··----100 •••• --•_ -··· 69 .••• -• -----·-· •••• ·--___ _ ··-· --·-·-· --·• - _20 ·--8912 _. - -··-·---·-·---·- Brewing voting trust ctf 100 Houston OiL-·-·---·····100 Preferred ---····--·---100 Interboro-Metrooolitan--.100 'Lehigh ValleY--·-·-------50 Maryland&. Pennsylvania 100 Mer&. Miners' Tran tr ctfs___ ____ 3 312 31., 4 412 87s 512 7 61i 8 50 50 ________ ••.•••.• -·-· ···- ____ -·--·-· -·-· 56 56 ____ --·- 1512 1512 ____ --·- --·· -·-- -Oottlieb Bauernschmidt Stra' Norfolk Railway&. Light.100 Northern CentraL.·-·····50 Reisterstown Turnoike ..... 6 -Seaboard Air Line ....... 100 Preferred -············100 Southern Pacific·-···-·· · 100 The Seaboard Co ......... 100 1st preferred .......... 100 2d preferred-·-·---·-·-100 United RY&. Electric...... 50 Safe Deposit receipts ... ___ U S Steel Corporation ... _100 Preferred -·--···------100 Wabash ··-··-··---···-100 Western h\aryland. _.... __ 50 Wheel&. Lake Erie 2d of-.100 -- ·--·· ··-- ···--·- 160 160 7212 63 6912 25 28 30 -··· --·· 69 205 205 196 -·-· 30 70 217 ---- 3114 3114 65 70 215 220 9312 9712 30 65 -··8912 30 67 --·· 91 13g ------- ·-·- ---· ····-·- ---· --·· --·-·-- ---5 5 2412 25 2414 2434 2214 23 70 71 7112 72 87 87 86 87 2 20 .••• --·- ·--- ---8912 -·-- 65 2 2234 2112 2112 2234 65 70 76 74 ·--- 85 85 84 2 ·-·- -·-· 70 70 75 ···- 50 75 50 ··-- .... -··- 86 83 8412 8312 8512 214 214 234 234 5 5 ··---·· ---- -··· ·· -· .... -·-· -··7512 7512 ---· ••.• 5 512 5 5 ____ ---· 7214 7214 412 534 ·--- -·-- ··-- 10 10 10 ll34 10 1112 10 1134 1034 1114 1112 ____ ........ ---· 36 10 10 1134 ll7g 12 36 ____ -·-- ·-- - ________ --·---· .... ·--- -··- ·--· -·-534 23 23 •••• --·19712210 8312 9214 ··-- 3812 3812 •••••••• -··---· ____ --·- ---· -·-- --·- ---· 1012 1012 --·· ·--- 7712 7914 8214 8312 8214 8214 •••• -·-80 ---- ---- -··- ·-·---· • •.• 65 65 160 173 180 195 6012 74 71 8312 612 -·-- --·- 412 6 5 6 25s 412 --·- ••.• ---23 2712 76 87 ---· 2234 -·-75 87 2234 ---75 87 612 2212 ---7212 88 ··----712 25 ---7212 88 ---- 70 734 812 40 4212 6 --·· 17 17 --·8212 8212 _-- _ 56 6212 ---- ··-73s 7 ___ _ 95s 95s ----·-- --·- ---1512 1512 --·--·____ ···- 16 85 8712 8712 -·-- ···- •.•• 434 514 --·· 712 712 - -r· ---· -··- •••• 53s 6 6 ---· ··-- 35 1034 1112 lll4 1112 1112 1012 1134 117s 1014 3314 3314 ·--9814 9814 ___ _ 10 10 --·312 334 3 ---- ---· ---- 412 8 4 --·- -·-- 16 4 ---- 7 ·--- 45 16 9 45 114 15 93 17 17 9314 96 10 ·--- 814 33 1312 11 1114 ---- 8 33 1312 101 2 1014 -·-· 634 ---1212 103s 1012 --·- 8 5 6 653 ·--1212 1os8 11 ---- 712 --·· 1312 111 2 1112 --·- 7 32 13 101 2 1012 •••• 6 80 250 110 245 245 -··2 334 ···- 20 231., ·--- 35 35 - ---Ilg 114 ·-·- -··---· --·-- -- -- ·512 714 23 24 21 21 67 70 86 86 1061210612 13g 13g ·-·· ---- ---·--· ---7 8 2414 2712 25 25 70 7112 87 90 321., 3212 112 31g 70 75 75 70 18 18 7912 8212 85 85 6712 6712 ·--- ··-- -----·90 1 25 7 25 1!0 76 90 ·--212 76 187g ---·--- 94 1 25 77g 26 34 82 96 212 82 21 -····-- 3· 6 ---- ·-·· -- - - -·-- 10 612 --·· 1212 10 101s 712 -·-- 16 •.•• ---- ---- ---- 15 9112 8912 9212 93 9014 89 314 3 14 ---· 7 35 13 ll 11 70 30 68 73 68 ---- -··- 215 93 93 103 3 312 ------· ·----·· ---· 814 33 1312 101 2 1os8 ---- 70 17 95 70 17 3 3 7 -·-1212 1018 1018 4514 70 17 72 19 953s 951 8 g9 8 3 714 31 13 1312 101 2 11 1012 105s 4514 ·--7 3 t7412 f7412 18 1834 98 102 3 3 ---------9 914 15 35 1512 12 12 ---- 40 1534 1014 1114 ---- 49 26 1112 115s ---· 8 t Free. CHICAGO BONDS IN 1908. BONDS. I January FelJruary March Aprtl May June July August Sept1tm1Je-r October November DecemlJer Low Htgh Low Htoh Low Htuh Low Htgh Low Ht,gh Low Htgh Low Htr;h Low Htgh Low Htgh Low Htgh Low Hl,(/h Low Htgh - - - - - - - - - - - - - ·(- - - - ---- ---- ---- - - - - - - - - ·- - - - ---RR. &. MISCEL. BONDS. Cass Ave & F Q (S.t L) 5s1912 9912 9912 --·- --·- ·-·City Rail way 5s_ . .. __ . . 1927 947s 9512 9512 9512 95 Chic Pneum Tool 1st 5s.1921 7112 7112 71 7212 67 Chic Rys 5s __..... -· .. . 1927 ··---·· 9514 Do 4-5s. Series "A" .1927 --·· Do ____ 9612 6912 9512 --·- -·-9612 10134 68 7114 9614 997s ---· ________ ••.• ---· --·· ---· ·--- ____ 98 9812 9712 98 ____ -··99 101 ·--- •••• ---- -·-100 100 983s 9912 9712 99 4-5s, Series "B" .1927 ··-· Do t-5s, Series "C" .1927 Do Collateral 6s •••• 1913 Do Funding 6s---··-1913 Chicago RY Temp ctfs 1st 5s Chicago Edison deb 6s--1913 -·-· -·-· ··---·100 First gold 5s __.... ___ _1926 97 Deb 5s ··-· - ··-·-----··-· 97 Chic RI&. PR R 4s .... 2002 Coll trust g 5s-···----1913 Commonwealth Elect 5s.1943 Kansas CRY&. Lt Co 5s.1913 Knickerbocker Ice 1st 5s.1928 Lake St Elev 1st 5s.•..• 1928 MetropWSide Elev 1st 4s 1938 Extencion gold 4s •.••• 1938 North West Elec 1st 4s .• 1931 Northwestern Oas 5s ....... Ogden Oas 5s---·--····1945 Ogden St RY 6s ........ 1916 Pearson-Taft 5s ---··---1916 4.40s--·-·-····----·-·-·- --·____ -·-100 99 98 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 9734 ·--· ---· ____ 98 9814 ·--· -~-991g 102 7112 73 991s 1013s 8812 903s 79 825s 75 793s 1001410012 1001410014 .•.• ·--· 100 100 100 1003g 9834 995s ·--- .... ---· ---- --·- ---· ---- ·--- -·-- -·-- ---- --·· 73 \13 73 100 ____ ·-·· ____ --·- --·- ·--· 9812 993s 9734 98 98 1001s 937s 931s 931s ··- - ________ --·- 851s 86 ---· ---· --·· •••• 80 85 8212 84 8114 8312 81 86 --·· ____ 80 80 80 8214 88 90 8714 8812 86 9012 89 93 7112 74 100 10134 ---- ---· --·- -·-85 85 85 8814 82 85 8912 9012 92 9312 9112 93 95 95 _ ___ 96 95 96 ------- ··-- .... -··- ____ 93 ·--· 88 8112 80 8614 ____ 8812 837s 8012 8812 .... --·· ____ 8014 86 85 89 86 ----·-- ____ ____ ·--- -·-- ____ .... 95 4.60s Series E ••••••••••••• (---- -·-4.80s Series F---·-···--··- 9712 9712 People's Oas L&C 1st 6s.19431091210912 Refunding gold 5s ..... 1947 94 100 Chic Oas L &. C 1st 5s .. 1937 9712 103 Consumers' Oas 1st 5s.1936 9434 96 Mutual Fuel Oas 1st 5s .. 1947 South Side Elev 4 ½s .... 1924 Swift&. Co 1st gold 5s ... 1914 Union Elev (Loop) 5s ... 1945 United Box Board Coll 6s .... West Chic St Con 5s recL ... Western Stone Co 5s .... 1909 9734 -·---··--9714 975s ____ .... ____ ____ ··-- --·· 10034 lQlls 1003s 1017s 7012 7212 9912 1013s 90 9034 75 80 ---· 1001s 10012 -·-- --·· -·-- --·· 100 10014 9834 100 9812 9912 --·· 94 93 ---· 68 ·------ ____ ---111 112 98 9812 100 101 97 98 98 9834 96 95 96 9812 98 9834 90 90 68 -·-- 86 1111211212 9634 9712 10014 1005s 98 98 -·-- -·-· 92 9434 977s 98 --·- -----·· ---- 65 70 ---- ·--- ---- -·-97 1013410112102 99 10334 102 10234 9734100 100 10112 •••• -··- 99 100 9334 95 94 961s 975s 9934 9912100 ••.• ---- 8912 8912 66 66 --·- ---7212 74 7212 80 ---- 70 70 •••• --·100341Qil2 951s 9534 88 88 ·--- --·87 8734 84 8412 8812 9014 94 9412 9114 9212 ____ ____ ···10112102 1025s 103 1001s 1001s --·- ____ 9514 9612 9912 9934 --·· -·-80 8014 ---- ·--- ---- ---- ---- ---- 1001210071, ____ ·-·-10012 1001 2 ---· .••• ··-- ____ ---· ---· 1013s 1015s 101 10114 J 01 102 1011:i 10134 1015s 10431, 10414 1047s 72 727s 7212 7512 7212 7212 695g 70 70 7314 7014 7614 993s 9978 9958 1017s 10014 10212 101341021s 99 991 4 99 101 88 8814 867g 88 8814 9014 90 9114 9012 931s 93 941,1 7912 80le 78 7934 79 82 813g 847s 84 8512 8412 8612 76 7714 76 777s 7734 82 8134 87 86 8612 8612 90 1001s 10014 lQOls 10014 10012101 1005s 101 10034101¾ 101 10112 1001410014 •.•• · · --10012100121001210034 101 10114 ·-·- ___ _ ____ •••. 993s 993s 99311 997s 995g 100 1001410212 10134102 ____ • . . ____ ·--- __-· ··-- •.•••••• ____ •.•• --·- ---· 10014 10012 10014 10014 10014 10058 100 1005s 1005s 1007s 1003s 101 9914 9912 9914 9912 9912 9934 9912100¾ 995s 993.:1 99341001s 64 64 6612 6612 --·- --·· ··-- ---- •••• ·--- --·- --·· 6212 6212 ____ ---· ---· --·- --·- ·-·- -·-- ____ ·-·- ___ _ 101 10112 101 10112 101 1015s 1013s 102 10134103 103 10314 93 95 .. __ --·· -·-- ---· 96 96 ____ --- · ____ -·-··-- ____ 9012 9012 ____ -··- ________ - ·· -- ________ --·--·· ____ -·-- ·-·· ____ --·· ________ 80 80 70 7134 85 8512 8412 85 801s 81 801., 841-1 82 84 827s 85 81 84 80 80 7512 76 7634 79 79 7912 7912 83 87 8812 8634 8812 86~& 8712 865g 8714 865s 8834 8812 9214 94 9414 -·-95 9512 951s 95Is ---- ---· 91 9112 91 92 91 9134 90 9014 91 94 9212 9512 ---· 82 82 -----·· 99 99 -- ·94 94 ·--- --·· 94 94 ___ _ ____ 96 96 ____ 96 96 -·-· ---- 9712 9712 -·--·-- -- ·· ·--- --·- 115 117 ____ ---· 1181411814 1011210112 --·· ____ 1015g 101ss 1017s 102 102 1027s 103 10314 10234 1033s 10234 103 1023410234 1017g 103 103 104 103¾ 10414 101 101 ________ 1001210012 101 101 102 102 10212103 ·--- --·- ·--- -·-· 100 100 -·-- ____ ---· -·-· ---- ---· 9514 9514 94 9412 93 9412 92 9312 9312 9412 9334 9412 9934 9934 100 10014 10011110014 10014 10012 --·- --·· 100141003s ·--- 85 85 ·--- ---- 87 92 ·-·- 47 47 ---- -·-- 47 47 ---- -·85 8512 ---- 130 CHICAGO STOCKS. CHICAGO STOCKS IN 1908. JanWJ,ry STOCKS. February March Aprtl May July Jum August September October Nuuember December Low Htgh Low H11Jh. Low Htgh Low Htgh. Low Htgh Low Htgh. Low Htgh Low Htgh Low Htgh. Low Htgh. Low Htgh Low Htgh ---- ---- - - - - ---- ---- ---- ---- ---- - - - - RAILROAD STOCKS. Par Chica~o City Railway ____ 100 160 175 Do Part Ctf Series 1 _____ ---- ---Do Part Ctf Series 2 _____ ---- ---Do Part Ctf Series 3 ----- ---Do Part Ctf Series 4 _____ ---2 Chicaito & Oak Park -----100 2 Do preferred ---------100 ---Cbicaito Subway _________ 100 1614 21 Chicaito Union Traction--100 - -- Do receipts __________ - __ 212 234 Do preferred ---------100 ---Do receipts ____________ Kansas City RY & Li~ht-100 4012 46 Do preferred _________ 100 6814 79 Metrop w Side Eley ____ 100 17 19 Do preferred _________ 100 42 50 North Chicaito Street ____ 100 ---do Receipts ______ Do ---Northwestern Elevated---100 20 20 Do preferred ---------100 ---- ---South Side Elevated _____ 100 65 71 Streets W Stable Car Lines100 27 2814 Do preferred ---------100 90 92 West Chicaito Streef- ____ 100 ---Do do Receipts------- 30 30 ---- ---- ------- ---- ---- ---- ---- ---- 165 170 8434 - -----85 ---- ---- ---- ---- ---- ---,J7 4612 4612 42 ---- ---- ---- ---- ------- ---- ---- ---- ---' --- - ---- 2012 21 ---- ------- ---------- ------- ------163 2 213 2 2 234 2 234 912 7 7 8 1934 17 1712 16 212 212 2 212 3 212 212 134 ---- ---- ---- --- - 751 2 4234 4234 3912 4212 42 74 74 77 72 75 15 16 16 18 17 45 47 4912 49 50 8 15 ---- ------- ------- ---- 43 ---- ------- --- ------58 70 65 2914 27 27 90 8812 92 --- --- ------- 30 ---- 212 8 9 17 23 334 4 312 414 2 7 --- - ---1214 7 7 42 45 4414 75 73 7a 79 15 1612 18 48 54 45 -- -- 44 47 ------44 40 45 40 43 20 ---- 20 20 20 - --- ---- ---- 50 56 5234 61 65 5014 62 2814 2612 293g 2734 2914 9238 85 9034 90 94 2514 2834 31 25 ---27 30 30 9 19 2 3 1834 21 312 312 ------------43 43 170 8673 40 2014 12 212 180 90 42 2412 16 212 1771217712 92 100 4012 39 23 23 178 179 97 10014 3912 45 21 21 13 10 ---2 3 31a 3 834 834 834 10 24 1812 2112 20 1812 2114 ..., ___ - --- 175 ---99 11312 110 44 46 38 1914 2012 20 1012 934 10 212 212 ---7 ---19 211:i 21 185 185 116 11612 4573 43 2413 28 1312' 12 2 --- ... 2 8 6 7 3012 2334 22 412 7 312 _.. , __ 180 119 47 2412 1314 ------- ---- ---~ ---- ---- ------- ---- ---- ---- -- ·- ---- ---- 3 ---- ---- -- ·- ---- -- -- -- -- ---- ---- ---- ---- ---- - - ---- - --- ---- -- -- ---- ---- ---- - --- ---- ---4734 411s 41 30 36 37 39 39 35 ---~ 7512 74 75 17 1712 13 4934 5012 ---- 77 17 7212 75 16 13 68 13 70 75 1312 ---- 75 ---- 81 7412 8612 80 18 121.4, 17 17 4312 53 45 42 4234 44 ---- 4312 4512 4312 44 ------- ---- ---- ---- ---- ---- ------- ·--------- ---- ---- ---- ------------------------- 14 15¾ 1334 1334 14 14 ---- ---- 15 ---50 ---- ---- ---- ---- 46 46 4712 48¾ 55 49 42 5038 58 28ta 2878 2814 2918 28 9938 9733 95 103 ___ 97 .,. 2834 28 --,. ___ ------- ---- ---- ---- ---- ---- - ---------4412 ---- ---- ---------- --22-1712 18 50 45ta 5714 47 46 47 46 49 286s 2814 285a 2834 3112 2914 34 9'/lg 99 9814100 99 987a 97 ------- ------- ---- ---- ---__ ------- ---- ---..,_ 621 2 60 5712 61 3253 30 101 101 ----- ------- ---- ---_., MISCELLANEOUS STOCKS. 45g 614 514 6 514 412 513 534 65s 53a 714 American Can-----------100 43g 512 41 8 418 414 51 8 434 53a 5 Do preferred _________ 100 4112 52 45 50 46 5112 4963 56 5413 5612 5312 563s 5412 6134 501 8 62 5712 621!! 5812 697a 160 160 135 135 138 145 150 150 150 152 American Radiator ______ 100 125 135 ---118 127 119 1201a 120 128 123 125 Do preferred ---------100 1161211612 117 117 117 117 116 127 1161211612 47 49 40 4834 4712 58 American Shipbuilding __ -100 46 5512 50 51 37 50 4014 45 4112 4714 42 44 3712 47 99 102 94 95 9512 93 95 95 100 10013 10012101 99 11012 997s 101 10012101 Do preferred ---------100 91 95 American Straw Board- ___ - _ 42 42 ---- --- ------- ---Booth (A) &. Co _________ 100 24 30 28 29 25 2534 24 26 28 30 2534 29 2273 2712 2112 25 112 19 112 3 812 80 512 14 Do preferred _________ 100 90 98 94 95 9013 92 93 9512 9612100 96 9814 95 99 80 94 5014 49 4812 481 2 47 5012 4814 54 5012 4712 49 50 Cal &. Chic Canal &. Dock-100 ---- 40 4312 4414 4434 44 51 147 147 Central Trust Bank------100 ---------- ---- ------- ------Cent Union Telephone Co---------- Ilg llg ---- ------- 55 55 ------Claic Brewing « Malting ____ I I ---------4 ---- ---4 4 ---- ---4 Do preferred - _- - - - - - - - - - --------------------- 25 251:, 22 2312 25 26 2434 25 21 3012 26 2412 23 24 22 2214 2512 30 21 28 Chicago Pneumatic Tool--100 Chicago Telephone ____ __ -100 106 120 106 11612 10712121 114 1193.4, 11734124 122 125 1341214014 1391414934 144 153 123 146 1 34 234 238 ---Do do Richts -------- --- - ---Chicago Title & Trust----100 100 11012 10612111 106 10814 1073410814 108 110 1071410914 108 1101:: 110 112 109 111 109 112 9814105 101 108 105 108 10512110 98 9412 94 91 95 8473 90 9012 93 80 88 843a Commonweatlh Edison--- --Diamond Matcll---------100 113 125 12112126 12312128 125 128 1261413112 126 13034 12912135 13a 137 12912 13412 130 134 Illinois Brick- __________ -100 30 39 30 3212 3014 32 3014 3034 3034 33 33 35 3112 33 3112 34 3312 3S 34 37 20 ---- ---20 1512 2112 16 20 ---- ---Lindsay LighL ------- - ---- 25 25 ------____________ Masonic Temple ---- ------- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---------- ------------- ---- ---- ---- ---- ------- ---- ---- ---- ---------- ------- ------- ---- --- ---- ---- ----- -- ---- ------- ---------- ---- ---- ----------- ------- ---- ---- ---- ---- ---- ---- ---- --- - ---- 38 39 4512 46 42 44 3912 41 ---- ---- 1()3ii 812 973 7634 7213 7673 190 200 125 12814 125 125 5734 56 5714 63 103 104 103 104 7 69 ---I 5 54 ---- --·112 ---78 6 56 112 6 3 5184 5714 ---- ---- -------------1 1 1 2 24 124 2 2 20 30 13012 127 111 11412 10412110 120 135 3512 35 2112 23 42 42 ------1 2· 28 13t 113 116 105 108 122 12412 3512 4212 43 ---441! 19 19 20 20 Milw & Chicago Brew pref_ __ National Biscuit- ________ 100 70 76 72 76 7513 83 7714 8612 84 8612 8212 8512 85 91 89 9212 8714 90 87 90 89 9234 90 97 Do preferred ________ -100 1013410814 106 108 109 114 112 116 1141411614 114 115 115 11912 116 120 115 118 116 11914 1161211912 118 11912 National Carbon--- ------ 100 54 55 5113 57 51 60 57 59 5712 6412 64 70 68 70 69 7212 70 70 65 70 70 85 83 87 , Do preferred ______ -- _100 102 10412 103 103 91 10212 10934100 107 112 110 112 109121117a 1081211014 108 10912 108 112 112 115 112 113 People's Gas Lt & Coke- - 100 8012 89 85 85 89 89 8Sl2 9112 90 9138 9112 92 93 96 941':! 9712 93 9712 95 965g 9614 l0lla 997s 106 5034 56 37 4012 45 50 38 3912 35 35 35 30 Sears-Roebuck common __ 100 24 25 24 2512 25 27 2612 27 32 40 Do preferred _________ 100 72 77 7212 7512 7512 7912 7814 8512 85 8834 8734 90 88 92 901g 92 8834 9212 8912 9212 9212100 90 102 Swift&. Company ________ 100 8812 9918 9514 997a 9534 9934 9714101 100 103 100381033a 10012105 10312105 1001s 10534 1007a 1027a 1021410412 101 104 The Quaker Oats C0-----100 11434134 122 134 130 130 12512132 12512130 124 130 12412 128 125 129 122 125 120 121 120 124 12073 123 Do preferred _________ 100 87 9414 94 9614 93 96 95 98 97 99 97 9778 98 100 9812100 98 9934 98 99 9712 9912 98 9t 12 134 l.i, 73 12 12 14 12 34 34 34 Ila 73 114 •2 38 Un Box Board &. Paper Co 100 138 134 112 158 112 134 114 112 25g 134 21:i 2 234 412 31!! 812 4 634 112 434 2 8 5a 4 914 6 Do preferred ---------100 10 12 10 1138 918 1012 8 100 _ _________ Stone Ii 15 16 13 1-l 1134 1512 1612 ---14 14 14 16 14 17 14 15 14 1612 15 15¾ 1412 15 Western https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ---- I
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