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·· LEE, HIGGINSON & CO. BOSTON New York Chicago HIGGINSON & CO. 1 Bank Building, Prince's Street, London, E. C. Investment Securities Letters of Credit _Forei ·g n Exchange MEMBERS Boston, New York, Philadelphia and Chicago Stock Exchanges KOUNTZE BROTHERS BANKERS Securities for Investment Letters of Credit To those about to travel abroaJ we shall be pleased to send our Booklet describing the and Municipal Bonds suitable for Individuals, method of issue as well as the advantages of our Trustees and Savings Banks. Our list may be Letters of Credit. had upon -application. We buy and sell Foreign Exchange. We also buy and sell Government Bonds Collections and execute orders in other securities for the We have unexceptionable facilities through a usual commission.. 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 .. We are offering and recommending Railroad 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,QOO 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. 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Australia and New Zealand-Union Bank of Australia, Limited; Bank of Australasia. South AfricaStandard Bank of South Africa, Limited. · Sterlin; and {Jontlnental Exchan;e Boo;bt an d Sold {Jommercial and Travelers' <Jred its Isaued. Collections made at all potnt1. Hankin; and Exchan;-e business of every description transao~d with {Janada, where the Bank's 200 Brancht'S give it Unsurpassed Facilities. BROV\TN BROTHERS & CO., PHILADELPHIA, NEW YOR.K , BOSTON, 4th and Ohestnut Sts. 59 WALL ST. 60 State St. AND ALEX. BROWN & SONS, Baltimore and Calvert Streets, Baltimore. ALL CONNECTED BY PRIVATE WIRE. Members of tbe New York, Philadelphia, B01ton and Baltimore Stock Exchan~e• Investment Securities International Cheques Certificates ot Deposit Bills of Exchange Bought and Sold. Commercial Letters 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, Firms and Individuals received upon favorable terms. BROWN, SHIPLEY & Co., LONDON, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Head Office: Founders' Court, Lothburr, ~,, 0,, Qffi~e f(?r Tr~velore: ,23 P•lf Mall, 3! ~ ~ Wm. A. Read & Co. Bankers Members of the New York, Chicago and Boston Stock Exchanges INVESTMENT SECURITIES List of Current Offerings on 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 LONDON, E. C. 5 Lothbury T. 'N. STEPHENS & CO. BANKERS 2 WALL STREET, - NEW YORK Investment ·eonds INTEREST ALLOWED ON ACCOUNTS OF CORPORATIONS, FIRMS AND INDIVIDUALS, SUBJECT TO CHECK AT SIGHT GEORGE LEASK. JULIAN W. ROBBINS. :F.DWIN M . LEASK., GEORGE LEASK & CO., MEMBERS OF' THE 'NEW YORK STOOK EXOHANGE, Bankers, · 37 WALL STREET, N.EW YORK. Stocks, Bonds and Investment Securities Bought and Sold on Commission. INTEREST ALLOWED ON BALANCES, SUBJECT TO DRAFT. PE;ALE RS lN https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis QQMMERGlAL PAP ER WILLIAM P. &_. Co. BoNBRIGHT Bankers MEMBERS NEW YORK STOCK EXCHANGE 24 Broad Street Colorado Springs 16 Georges Street Mansion H ouse COLORADO LONDON, E.C ., ENGLAND NEW YORK ELECTRIC POWER SECURITIES List of current offerings furnished upon application WILLIAM A . JENNINGS. ARCHIBALD F. McLIESH. M. R. CAMPBELL, Special. MAYNARD 0. EYRE, MILTON J. WHITELY. PRINCE & -W-HITELY, BANKERS AND BROKERS, No. 52 Broadway, New York, AND 15 CENTER ST., NEW HAVEN CONN. 803 MAIN ST., HARTFORD, CONN. All Classes of Railway Stocks, also Grain, Provisions and Cotton, Bought and Sold on Commission. INVESTME N T SECUR ITIES A SPECIALTY. Direct Private Wires to Boston, New Haven, Hartford, Chicago, Pittsburgh, Baltimore, and Richmond, Va. W. EUGENE KIMBALL. LEEDS JOHNSON. ESTABLISH ED 1865. 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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 Exchanie and Cable Transfers bou1ht and sold. Represent Land Mortgage Companies both as Financial Agents•:and in [the care of Investments, either Mortg&1es or Real Estate. · · DRAW ON https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis BRITISH LINEN BANK ' LONDON ARTHUR LIPPER & COMPANY BANKERS AND BROKERS Members of New Yor~ and Philadelphia Stock Exchanges and New York Cotton Exchange CORNER NEW STREET AND EXCHANGE PLACE, NEW YORK ~ ) LIEBER'S · CODES:.,? HARTFIELD'S WALL ST. OABLE ADDRESS; KRASTENOLE ~OODY, McLELLAN & CO. MEMBERS NEW YORK STOCK EXCHANGE 111 BROADWAY, NEW YORK Securities bought and sold for cash or on margin. Interest allowed on deposits. BRANCH OFFICES: BROOKLYN, N. Y. WATERBURY, CONN. NEW HAVEN, CONN. HARTFORD, CONN. 6 Thomas St., ,NEW YORK. BRIDGEPORT, CONN. STAMFORD, CONN. HAND-BOOK OF SECURITIES. 1910 EDITION. Earnings, Divi~ends and Price$ for a series ot year~. Prlee, • • • • • • • To 8u1Herllten of the Chronicle, • • · 'J'4 tt.oo. eent■• "W'"ILLIAM B. _ DANA COM-PANY, Front, .Pine ~nd D ·e peyster Sts.. Publisher&, NE"W'" YORK BAN_K AND TRUST COMPANY STOCKS NEW \;ORK AND BROOKLYN BOUGHT AND SOLD C-L INTON GILBERT 2 WAJ,L STREET https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis NEW YORI( RHOADES & COMP ANY BANKERS 45 WALL STREET, NEW YORK HARTFORD OFFIOE-36 PEARL STREET HIGH-GRADE BONDS STATE, MUN I CIPAL AND RAILROAD Members New York Stock Exchange; Execute Commission Orders; Deposits received subject to draft. Letters of Credit and Trav ~lers' Checks Available Thro ughout the World. A. M. KIDDER & CO. BANKERS 5 Nassau Street (Hanover Bank Bldg.) - NEW YORK (ESTABLISHED, 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 O. SLAUGHTER. PffiLIP W. SEIPP. FRANK W. THOMAS. A. 0. SLAUGHTER & CO., New York Stock Exchange, .New Yo.rk Produce Exchange, New York Cotton Exchange, MEMBERS:~ New York Coffee Exchange, Chicago Stock Exchange, Chicago Board of Trade, St. Louis Merchants' Exchange. r l 139 MONROE STREET, NEW YORK LIFE BUILDING, CHICAGO. HIGH-CLASS INVESTMENT SECURITIES. PRIVATE WIRES TO NEW YORK, BOSTON, PHILADELPHIA AND OTHER PRINCIPAL POINTS, BER 'T RON, GRISCOM .& JENKS BANKERS Members New York Stock Exchange 40 WALL STREET NEW YORK LAND TITLE BLOC. PH.ILADELPHIA Investment Securities We make a specialty of Organizing, Operating, Financing and Selling the Securities of Public Service Corporations. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis HENRY W. SHOEMAKER, T. TOWAR BATES, WILLIAM F. WHITEHOUSE, SHOEMAKER, BATES & CO., BANKERS, S NEW YORK STOCK EXCHANGE MEMBERS~CHICAGO STOCK EXCHANGE INVESTMENT SECURITIES 37 WALL STREET, NEW YORK WALDORF-ASTORIA, NEW YORK 500 FIFTH AVENUE NEW YORK REAL ESTATE TRUST BUILDING, PHILADELPHIA PARKINSON & BURR 53 ST A TE STREET, BOSTON. 7 WALL STREET, NEW YORK. INVESTMENT SECURITIES MEMBERS BOSTON AND NEW YORK STOCK EXCHANGES. BRIGHT, SEARS & CO. BANKERS AND BROKERS, 53 Sta+e Street, BOSTON. MEMBERS OF 9 Central Street, LO WELL. 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 LEIPZIG MEMBERS OF NEW YORK STOCK EXCHANCE, LETTERS OF CREDIT. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis TRAVELERS' CHECKS. INVESTMENT SECURITIES. Maitland, · Coppell & Co. 52 WILLIAM ST., NEW YORK. ORDERS EXECUTED FOR .A.LL INVESTMENT SECURITIES B1LLS OF EXCHANGE, TELEGRAPH-JC TRANSFERS - ON- Union of London &- Smiths Bank, Limited, London, Messrs. Mallet Freres & Cie., Paris, -AND ON- Banco Nacional de Mexico and its branches. INTEREST ON DEPOSITS, SFBJECT TO CHECK TRAVELERS' LETTERS OF CREDIT United States Bonds, Railroad., Mu:n..icipal AND OTHER Investment Securities. HARVEY FISK & SONS, 62 Cedar Street, NEW YORK REPRESENTATIVES PHILADELPHIA, JAMES H. OHAPMAN, 421 Chestnut Street. OUR LIST OF https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis BOSTON, MASS., JOHN B. MOULTON, 35 Congreu Street. INVESTMENT SECURITIES CHICAGO, ILL., D. K. DRAKE. 218 La Salle Strert SENT ON APPLICATION THE .fINANCII\L - REVIEW. Fi:n..a:n..ce:, Commerce, Railroads_ A:n..:n..u.al-1910 WILLIAM B. DANA COMPANY, PUBLISHERS , COMMERCIAL AND FINANCIAL CHRONICLE FRONT, PINE .A.ND DEPEYS1'ER STREETS, NEW YORK. Copyrighted in 1910 according to Act of Congress, by WILLIAM B. DANA COMPANY, in office of Librarian of Congress Washin_;ton D. C, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis CONTENTS. Page. RETROSPECT OF 1909 __ __ __ __ __ __ __ ____ ____ ______ ______ ____ __ ____ __ ____ __ __ __ __ __ __ __ ________ ____ __ __ __ 11 Monthly Review of Current Events, Money Market, Stock Market and Foreign Exchange________________________ 16 LISTINGS OF SECURITIES ON THE NEW YORK STOCK EXCHANGE____________________________________ 35 cLEARINGS A!jD SPECULATION IN 1909________________________________________________________________ Sales of Stocks _______ ________________________________________________________________________________ 33 34 BUILDING OPERATIONS IN UNITED STATES AND CANADA ___________ _______________________________ 37 FAILURES IN 1909 __________________________ -- -- __ -- -- -- -- -- -- __ __ __ __ __ __ __ __ __ __ __ __ __ ______ __ ______ Failures by Branches of Business_______________________________________________________________________ Yearly Failures Since 1857 ________________________________________ --.-- __ __ __ __ __ __ __ __ __ ________ ______ Detailed Statement of Failures in United States and Canada in 1909________________________________________ 37 38 38 39 BANKING, FINANCE AND CURRENCY-------- - -------------------------------------------------------- 40 Call Money Rates for Every Day in 1909 ___________ _________ ____________________________________ _______ 40 Money Market for Four Years _________________________ ___ _____________ ___ _______ __________ __________ _40-42 New York City Bank Movements-Averages for Week and Actual End of Week__ ________________ ___________ 42 Weekly Returns of Trust Companies___________________________________________________________________ 43 Combined Loans and Money Holdings of Banks and Trust Companies______________ ___________ _____________ 43 CROP AND OTHER PRODUCTIONS-OUR HARVESTS IN 1909 ___________________________ ______________ 44 The Crops for a Series of Years _______________________________________________________________________ -44-45 Pig Iron Production and Prices ________ ---- ______________ -- _____________ -- __ ---- -- ---------- -----------Anthracite Coal Production __________________ -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- __ __ __ __ __ __ __ __ 45 47 GOLD AND SILVER-Review of Gold and Silver Production __________ -- __ -- -- __________________________ .,.- __ __ 48 Product of Gold in United States, Africa, Australasia, Russia, &c __________________________________________ 48-50 World's Gold Production since 1881-_ -- -- -- --- -- -- -- -- -- __ -- -- -- -- -- -- -- -- -- -- -- -- -- -- __ -- -- -- __ __ __ __ __ 49 World's Silver Production since 1891- ___ ______ ________ _------------------------------------------------- 50 Silver Quotations in London, Monthly, from 1837 to 1909 - ---------------------------------.,---------------- 51 GREAT BRITAIN-BANKS., AND TRADE __________ ---- -- -- -- -- -- -- -- -- ---- -- -------- - - ------ -- ------ __ __ Review of the Year's Influences and Events______________________________________________________________ British Imports and Exports ______ -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- . - -- -- -- -- -- -- __ _,...Statements of Bank of England and Bank of France-Also Money Rates at Continental Cities ____________________ 52 52 53 ' 55 --,.. TRADE AND COMMERCE-Our Foreign Trade in 1909-Calendar Year________________________ __ _____ _________ 56 58 58 59 59 Values of Exports and Imports by Fiscal years, 1878-1909 ______ -- ________ -- __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ Exports of Leading Articles of Domestic Produce for Three Years _______________ _:_____________ ______________ Imports of Leading Articles of Merchandise for Three Years________________________________________________ Comparative Prices of Merchandise, 1860, 1879 and 1906-1910 ____ -- -- - -- ---- ____ -- __ --------- - ____ ______ __ FOR~IGN EXCHANGE-Daily Prices in New York in 1909 -- -- ---- -- -- -- ---- -- -- ---- -- -- -- ---------- __________ 60 UNITED STATES DEBT, MONEY AND SECURITIES-Debt of the United States, 1793-1909 _________ __________ 61 Detailed Statement of Public Debt on December 311909 -----~--------------------------------------------- 61 Treasury Money Holdings __ -- -- -- -- --- - -- -- --- - - - -- -- ---- --- - - - - - -- -- -- --- -- - ---- --- - -- -- ---- ----,-- __ 61 Stock of Money in Country -- -- ------ -- -- -- -- ---- -- ---- -- -- -- -- -- ------ -- -- ------ -- -- ------ ------ ---- 61 Highest and Lowest Prices of United States Bonds, Monthly, 1860-1909--------------------------------- ~--62-66 STATE SECURITIES-Highest and Lowest Quotations of State Securities, 1860-1909 __________________________ 66-68 Prices of State Securities, Monthly, for Year 1909_ ---- -- ------ -- -- -- -- -- -- -- -- -- -- ---- ----- ------------ __ 68 , FORETG N GOVERNMENT SECURITIES-Highest and Lowest Quotations, Monthly, 1904-1909 _____ _____________ 107 RAILROADS AND THEIR SECURITIES-Railroad Statistics for the United States______________________________ 69 Mileage, Capitalization, Wages, Passenger and Freight Statistics __ -- -- -- -- -- -- -- -- -- ______________________ 69-72 Earnings, &c., Fiscal Years Ending June 30 1890-1908 __ -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- __________________ 71-72 Railroad Earnings in 1908 and 1909_.___________________________________________________________________ 72 Railroad and Miscellaneous Bonds in .New York, 1905-1909-Highest and Lowest Prices Monthly ___________ 75-107 Railroad and Miscellaneous Stocks in New York, 1905-1909-Highest and Lowest Prices Monthly __________ 107-123 [ Railroad and Miscellaneous Bonds in Boston, 1909-Highest and Lowest Prices Monthly _____________________ 123-124 Railroad and Miscellaneous Stocks in Boston, 1909-Highest and Lowest Prices Monthly ___________________ l24-125 Railroad and Miscellaneous Bonds in Philadelphia, 1909-Highest and Lowest Prices Monthly _______________ l26-127 Railroad and Miscellaneous Stocks in Philadelphia , 1909-Highest and Lowest Prices Monthly _________________ 127 Railroad and Miscellaneous Bonds in Baltimore, 1909-Highest and Lowest Prices Monthly _________________ l28-129 Railroad and Misrellaneous Stocks in Baltimore, 1909-Highest and Lowest Prices Monthly ____________________ 129 Railroad and Miscellan<.,uU8 Bonds in Chicago, 1909-Highest and Lowest Prices Monthly ______________________ 130 Railroad and Miscellaneous Stocks in Chirago, 1909-Highest and Lowest Prices Monthly ______________________ 130 RAILWA\ .\ND INDUSTRIAL SECTION -(Issue of Jan. 29 1910 bound up with the Review) ------------Appendix https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis VOLUME AND COURSE OF TRADE. ANNUAL AND MONTHLY RESULTS. RETROSPECT OF 1909. The year 1909 was one of brightening conditions and of noteworthy trade revival. It marked a period of recovery after the unprecedented industrial prostration of 1908, which had followed the financial revulsion of 1907. Recuperation had already become manifest in the later months of 1908, all the indications then pointing to continued betterment and progress in 1909. The expectation thus held out has not been disappointed, though progress was by no means uninterrupted during the year under review, there having, indeed, been numerous drawbacks and adverse features of greater or less importance from time to time. ln one respect there was absolute, complete and unqualified convalescence. We mean that there was an entire restoration of confidence. The collapse of 1907-08 was in the main due to a loss of confidence. In 1909 this confidence returned. As the previous loss of confidence had followed chiefly from causes political, so the absence of further disturbances of that kind during 1909 tended in no small degree to bring about the resultant recovery. The conspicuous political event of the year was the change in the Federal Administration at Washington. The prospect of this change did much to reviv'e hope the latter half of 1908. Its realization in 1909 served to confirm the hope and ~o give new impetus to enterprise in every direction. Whatever one may think of the merits of the crusade in which Mr. Roosevelt was so conspicuously engaged during his second term, and of the part played by it in provoking the ruin and desolation which followed, there can be no doubt that the removal of that source of irritation operated to promote recuperation and convalescence. President Taft professes adherence to the same doctrines as Mr. Roosevelt, and during-the short time that he has been in office has on more than one occasion taken pains to declare his bel_ief in these doctrines, and has, moreover, announced over and over again that it would be his endeavor to give effect to them. Yet, except in their political beliefs, the two men are totally unlike. Hence, the change from the one man to the other has been -a radical change and one of great potency and portent. Under Mr. Taft, there have been none of those explosive utterances and wrathful denunciations which marked the administration of his predecessor, and which had proved so deeply disturbing. During Mr. Roosevelt's term, the business world never knew what to look for next, and was in constant fear of a new blow while yet it was staggering from the effects of a long antecedent series of blows, wildly aimed-often harmless, but none the less disconcerting and nerve-racking. Mr. Taft has indulged in none of these practices, and consequently industrial interests have not been prostrated anew. Even the enactment of a new tariff measure did not serve to interfere with the course of trade revival. Mr. Taft did all in his power to make the event as little disturbing as possible. Congress was promptly called in extra session when he acceded to office in March. The House of Representatives acted quickly ~nough (committees of the old Congress having given he subject lengthy consideration before the advent https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis of the new body), and passed the Payne Tariff Bill early in Avril. In the Senate there was, as there usually ii,, delay, lengthy debate and much dickering. Thus the matter dragged along for months. It wiu, not until August that tariff legislation ,ms completed, final conclusion having been somewhat delayed by th1 action of the President in insisting upon the insertion. of a provision in the Act for the levying of a tax upon the income of corporations-this tax also being designed to give the Federal Government an insight into and a species of control over corporations. While tariff legislation was under way, there was naturally more or less hesitancy and restraint in trade affairs, inasmuch as merchants and business men could not act freely or conduct business except from hand to mouth until they knew what the new tariff duties were to be. But all the time there were multiplying evidences of trade revival, making it practically certain that the moment tariff rates were settled business men everywhere would take hold with new vim. A further stimulus existed in the fact that in the antecedent period of depression there had evidently been under-consumption, so t hat the demand for goods and wares was now large, both to meet consumptive requirements and to replenish stocks. The Tariff Bill when finally passed proved innocuous enough. The Act was a compromise between the H ouse, favoring lower duties, and the Senate, the cit adel of protection. As it stands, it comprises no i:;erious changes in tariff duties, though in a number of items in the metal schedules- important reductions have been made-without, however, in any case endangering the scheme of prot ection for domestic articles and products. Hence, no disturbance to business could result on that account. But even before tariff legislation was closed activity in trade was proceeding in a progressive way. The industrial world seemed to care nothing about the tariff duties except to have certainty with regard to them-to know what they would be. The iron and steel industry, the king pin of all our industries, furnishes an excellent illustration of the course of trade revival. In the early part of the year manufacturers were still feeling their way along very cautiously, consumption was held in check and men were slow to engage in newventures. The old Congress was still in session and the new President had not yet assumed office. In February, as a result of these conditions, there came a tremendous slashing of prices in the iron and steel trade and the United States Steel Corporation was for once obliged to change its policy of maintaining price stability and to follow the general trend. The next month wages of the workers in these trades were pretty generally reduced about 10%-the Steel Corporation almost alone among the great· concerns making no reduction. But such was the quick improvement that by the 1st of July wages were again restored all around. During the last half of the year the iron and steel industry enjoyed a degree of activity surpassing all previous eras in that respect. In the closing months of the year iron production was at the rate of 32,000,000 tons a year, or 6,000,000 tons in excess of the very largest make of iron in any previous calendar year in the coun- 12 RETROSPECT. try's history. The copper trade apparently was a sort of exception to trade revival and expansion. Yet the deliveries for domestic consumption were large and the foreign exports were of tremendous proportions. The trouble in that trade was that production was on a phenomenal scale, and that as a consequence further additions were made to accumulated stocks, already of large proportions both here and abroad, and that this prevented any improvement in price. There were a number of noteworthy court decisions during the year, some favorable and some the reverse, but though some of these latter were unsettling, there was at no time that feeling of apprehension and alarm which had existed in 1907 and for a while also in 1908, when, during the crusade against railroads and against corporations generally and against capital and wealth, doubts had been engendered as to whether even the courts could be relied upon to uphold and enforce Constitutional safeguards so as to preserve inviolate property rights and vested interests. All doubts of that kind had beeri removed by the series of decisions which came one after another in 1908. The court judgments of 1909, where they were disturbing, were so because they were based on statutes which were themselves disturbing, and for which the lawmaker, not thejudiciary, is to be held responsible. A decision of this character was rendered late in the year (November), when the U. S. Circuit Court of Appeals at St. Louis adjudged the Standard Oil Co. a combination in restraint of trade and commerce under the Sherman Anti-Trust Act of 1890. No o~e was inclined to give himself much concern as far as this particular industrial combination was concerned, but anxiety arose out of a fear that under this Court ruling, and a similar ruling the previous year in the case of the American Tobacco Co., other industrial combinations might also come under the ban if the Federal authorities should see fit to proceed against them. A remedy, of course, can be provided by changing or repealing the law which is the cause of all the trouble. A like comment may be made upon the decision which was handed down by the U. S. Supreme Court on Feb. 1, holding the Continental Wall Paper Co. an illegal combination under the 1890 law and saying that by reason of that fact it could not collect a debt owing to it by Louis Voight & Sons Co. of Ohio, one of the pa-rties to the combination. The decision of the U.S. Supreme Court, which came on the very first Monday in the year, in the case of the Consolidated Gas Co. of this city, and involved the constitutionality of the 80-cent Gas Law, was also disturbing, inasmuch as, though some of the provisions of he law were declared invalid, it was nevertheless held that, since there was a possibility that the 80-cent rate might yield an adequate return on the capital which the company had invested in the gas business, the rate would have to be found confiscatory by actual trial before the Court would hold the law unconstitutional as a whole. The opinion in that case, as we showed in editorial comments at the time, had nevertheless a number of reassuring features. There were other court decisions and trials of a distinctly encouraging character. Such was t he outcome in the case in which Judge Landis had imposed a fine of $29,240,000 on the Standard Oil Co. of Indiana for having, as alleged, accepted rebates on shipmep.ts of oil over the Chicago & Alton RR. In January the U. S. Supreme Court denied the application of the Federal Government for a writ of certiorari to review the decision of the U. S. Circuit Court of https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Appeals which the previous July had reversed Judge Landis. The Government then decided to re-try the case in accordance with the rules laid down by the Court of Appeals, and in March this second trial ended in utter failure, the jury rendering a verdict for the Oil Company on instructions from the Court. The determination of the U. S. Supreme Court in the case involving the Commodities Clause of the Hepburn Rate Law (which came in May) was also assuring, the Court so construing that provision as to relieve it of its objectionable featuresL Several other decisions of the same kind also deserve mention. Thus in March the Federal Court at Kansas City declared the TwoCent Passenger Rate Law and the Maximum Freight Rate Law, enacted two years before by the Missouri Legislature, void. In August the U. S. Circuit Court at Chicago made permanent the temporary iniunction previously granted against the Inter-State Commerce Commission in the so-called Missouri River rate cases. Furthermore, the new Administration at Washington did its part to restore confidence. With the failure of the suit in which the $29,240,000 fine was imposed against the Standard Oil Co., announcement came that other similar cases on the Department docket would be abandoned. In June the AttorneyGeneral at Washington also gave notice of the discontinuance of the suit against the New York New Haven & Hartford for alleged violation of the Sherman AntiTrust La~ in having acquired control of the Boston & Maine and of numerous trolley lines. In Europe the developments were highly important, and while these were of a mixed character, it is to be noted as a distinctive feature of the year that there was a composure of quite a number of political differences which at one time were disturbing. For one thing all the troubles in the Balkan regions of Europe, arising out of the upheaval in 1908, when Bulgaria declared its independence of Turkey and AustriaHungary annexed Bosnia and Herzegovina, . were adjusted. In January Turkey accepted the offer of compensation for the two annexed provinces made by Austria and in February Bulgaria and Turkey came to an agreement through the good offices of Russia. The latter part of that month there was still talk of possible war between Austria-Hungary and Servia, but the next month the great Powers forced Servia to submit to the Austrian terms involving the recogniti.on of the annexation of Bosnia and Herzegovina and the demobilization of the Servian army. Greece, too, at one time was in a belligerent mood ~n account of the Island· of Crete, but here too the signatory Powers to the Treaty of Berlin forced their resolve upon the militant nation. In one sense, perhaps the most notable political event in Europe was that growing out of the visit made in February by King Edward of England with Queen Alexandra to Kaiser Wilhelm at Berlin. This had the effect of improving the relations between Great Britain and Germany, but was particularly significant because simultaneously there came the announcement of an agreement between France and Germany for the settlement of their differences with regard to Moroccan affairs. With the three great nations of Europe once more in much better accord, a complete change of tone occurred in all the bourses and stock exchanges of Europe. This change, in turn, along with the floating of the long-deferred Russian loan for $280,000,000, resulted in an abatement for the time being of the demand for gold, thus permitting the Bank of England to replenish its deplet~d stock of the metal. RETROSPECT. Reference to this latter circumstance serves to bring to mind the fact that it was not alone in the autumn that the Bank of England was in a state of stress because of its small stock of gold. In January, at a time when conditions were tending towards monetary ease, the Bank was obliged to raise its rate of discount from2½%to3%in order to attractgold; and a further advance was only averted through the action of French bankers the latter part of the month in refraining from taking any more of the South African arrivals of the metal. By April the Bank's bullion holdings had been sufficiently re-enforced to enable it to reduce again to 2½%. The following October, however, the Bank, owing to the multiplicity of demands upon it and the large losses of gold it was sustaining, found it incumbent to make successive advances to 3, 4 and 5%. The Bank of Germany had been forced to mark its own rate up to 5%, making action by the Bank of England all the more imperative. Some English and American critics then ascribed the Bank's embarrassment to American finance bills arising out of speculation on the New York Stock Exchange, but that there was no substantial basis for the allegation is found not only in the statements of bankers and dealers in foreign exchange denying that there was an unusual amount of such bills outstanding, but in the fact that the United States, so far from drawing any gold from Great Britain or from Europe, contributed all through the year to relieve Europe's needs. When the Bank in January raised its discount rate, the South American demand for gold was diverted to New York, and very large shipments were made from this point to Argentina. · Tlrese shipments of gold from New York to South America continued through all the months of the year, most of them being to Argentina; but quite large amounts went also to Brazil. The extent of the relief contributed will appear when we say that for the twelve months as a whole the aggregate. of our gold exports to South America has been over $61,654,330. But we also made at one or two periods of the year shipments to Europe. Altogether, the exports of gold from this port reached $95,889,667, with imports of only $10,050,831. To that extent, therefore, this country contributed to the relief of Europe instead of having been a drain upon it through the assumed excessive issue of finance bills. The monetary situation abroad has undoubtedly been complicated by the budget difficulties, which all the leading European countries have been laboring under. The fiscal needs of these countries have been very urgent by reason of the enormous naval expenditures incurred and the adoption of various schemes of socialistic legislation, such as old-age pensions_, &c. ·These large expenditures necessitated new sources of taxation and these in turn involved resort to radical and extraordinary expedients. The facts with regard to the British Budget are well known and need not be rehearsed here. The Budget was introduced in March, as usual, but such was its character and such the opposition to it that final action upon it did not occur until the close of November, when the House of Lords refused to pass the measure. The result was that Parliament was prorogued early in December and the issues were trfod out in a general Parliamentary election held in January 1910. But Germany also had its Budget difficulties, and the measure had to be greatly modified before it could be passed at all by the Reichstag. The eventual result was the retirement of Prince von Buelow as Imperial Chancellor. It deserves to be said with reference to the https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 13 British Budget that such were its provisions that twice during the year the banking world of London met together and voiced formal protest against it. There were also Ministerial changes in many of the other countries of Europe, not a few of which came from dissatisfaction with financial an-d taxation measures. Spain, in addition, had its war in Morocco to contend with, together with the Anarchistic uprising at Barcelona which grew out of the same and which led to the execution of Professor Ferrer. The deposition of the Sultan of Turkey and of the Shah of Persia were among the other events of the year The state of our foreign trade greatly facilitated the outflow of gold for the relief of Europe. There was a tremendous expansion in our merchandise imports, while the merchandise exports decreased. Import values broke all records, reaching $1,475,612,580, against only $1,116,374,087 in 1908. Merchandise exports aggregated $1,728,203,271, against $1,752,835,447 in 1908, $1,923,426,205 in 1907 and $1,798,243,434 in 1906. This left the favorable balance on the merchandise movement only $252,590,691, against $636,461,360 in 1908. We have stated above that the shipments of gol'd from New York for the full year aggregated $95,889,667. But the outflow froin the whole country was, of course, much larger, more particularly as considerable gold was transferred through the Sub-Treasury at this point to San Francisco for shipment to Japan. The exports of gold from the entire country amounted to $132 ,880 ,821 and the imports to only $44,086,966. The extraordinary merchandise imports are of course ascribable to the revival of trade in the United States, aud doubtless also to the fact that during the unprecedented depression of 1908 importations in many lines of goods were perhaps below the normal consumptive requirements. Tariff legislation also led to some advance in importations. The lack of growth in the merchandise exports follows in part from a diminution in the exportable surplus of some of our agricultural products, and perhaps in yet greater part from the high level of prices prevailing for nearly all articles and commodities, impelling the foreign consumer to draw on other sources of supplies. . Our leading crops, .with the exception of ·cotton, were considerabl,y above the average, though not reaching the phenomenal proportions which the outlook earlier in the season seemed to promise. · But prices for at least part of the time were on some of the crops inordinate . The situation as to wheat is "illustrated by the fact that the Agricultural Bureau estimates the average price on the farm at almost $1 00 per bushel (to be exact 99c. per bushel). In 1908 the similar average was given as 92.8c., in 1907 as 87.4c. and in 1906 as only 66. 7c. This is an increase in the amount realized on the farms in the three years of almost exactly 50%, and yet according to the Government's figures the wheat product for these two years was almost identical in magnitude, the crop of 1909 being stated at 737,189,000 bushels and that of 1906 at 735,260,970 bushels. But these figures, significant though they be, do not tell the whole story. As indicating what the consumer had to pay for his wheat, it should be noted that in April cash wheat in New York ruled as high as $1 42 per bushel. And high figures like this were maintained for weeks and months-in fact in June No. 2 red winter wheat in this market sold at $1 50 a bushel. The supplies of wheat at Western milling points seemed to be so low that the unusual circumstance of a return movement of wheat0 14 RETROSPECT. that is, shipments from New York to the West-was noted. As to the high price attained for cotton under the tremendous speculation which was carried on in that staple, it is only necessary to say that middling uplands got above 16c. per lb. in New York and also at other markets. As a matter of fact, while the rise in wheat and in cotton was of exceptional proportions, values of nearly everything ruled at unusual figures. The remark applies to grains, to meats, to butter, to milk and dairy products, to fruits, &c. Out of this there arose general and well-founded complaints as to the price of bread and food and the high cost of living, which was one of the distinctive features of the year, for which it will remain memorable. In the railroad world there was progress and development. With the revival in trade and growth in traffic, and consequent gains in revenues, the outlook for the carrying industry very considerably improved, The railroads, on their part, were forced to make arrangements for added facilities to take care of the growing volume of traffic. At the same time they were also obliged to convert into permanent form the ternporary obligations which they had incurred during the period of depression, when it was impossible to float long-date issues on satisfactory terms. What all this leads to was well indicated in the closing months of the year, when such leading railroads as the N. Y. Central, the Pennsylvania, the N. Y. N. H. & Hartford and the ·Chicago & North Western announced, each of them, an increase in its share capital of 25 % . No reference to the railroad history of the year, however brief, would be complete that did not advert to the death of control of their expense accounts and in enforcing and maintaining discipline over their employees, which they had almost completely lost at one time in the past, and in that way found it possible to administer the properties with due economy and efficiency. For the eleven months of the calendar year to Nov. 30 gross earnings for substantially the whole railroad mileage of the country show an increase of $256,947,936, and of this gain of $256,947,936 in the gross, $145,530,117 was saved for the net, the ratio of addition in this last instance being 21.88%. It is proper to state that in the early months of 1909 the gains in gross earningsrepresentedmerelypartrecoveryof thetremendous losses which had been sustained in 1908. In the later months of the year, however, with a conti 1Ued expansion in business, the gains in gross receip ts far exceeded the 1908 losses. · The stock market did not wait for the full re Jization of all the bright hopes and promises for the future. The speculation for higher prices was most pronounced in the spring and summer, and steadily progressed even when many persons, on account of the tariff discussions, were skeptical as to whether any genuine and large revival in trade would come at all. As far as leading properties are concerned, very few new high records were made in the last two or three months of the year. In other words, when doubt as to the year's agricultural outturn was removed, when tariff legislation was completed and there was reasonable certaint y as to the progress and continuance of trade revival, and when the immediate future of both railroad and industrial properties seemed assured, the stock market hesitated and halted. The high money rates which developed in the autumn may have had E. H. Harriman, which occurred in September. For- something to do with this hesitancy, but it is also in tunately, the management of all the properties with part explained by the great antecedent advance which which he was so prominently identified had been so had occurred. In other words, the market had disthoroughly systematized that his plans with regard to counted to a great extent the favorable things which the same can be carried out and continued even with- came in such abundance in a material way in the closout his further guidance. In the larger aspect, how- ing months. As a radical instance of the rise in pricei:-,, ever, of Mr. Harriman's relations to United States rail- the Steel shares may be cited. Steel common was at its lowest in February, at the time of the great cut in roads as a whole, his death, it is easy to believe, may prices of iron and steel products. The common shares have made an important difference in future railroad then sold at 41¼; on Oct. 4 they sold at 94½. history. He was elected to the directorate of the N. Y. Notwithstanding that the tendency of stock values Central in January., and during his illness late in the was so strongly upward, there were many occasions summer rumors were frequently current of an inten- during the year when t here were violent breaks in tion to enlarge the union Pacific's holdings of N. y. prices: generally caused by special adverse circumstances, on which occasions the market at times apCentral stock, with the idea possibly of eventual con- peared to be in a state of hopeless collapse. These trol of that property. There seems reason to believe breaks in prices stand as the noteworthy feature of the that Mr. Harriman had aspirations in the direction of year by which it will probably long be remembered. enlarging his railroad domain, which· necessarily came But it is also to be observed that, after each downto an end with his death. ward plunge, there was quick recovery. At the very On the Stock Exchange the year 1909, generally beginning of the year the market received a blow which speaking, was one of improvement in values-in not sent it tottering in the U. S. Supreme Court decision compelling a trial of 80-cent gas in the case of the Cona few instances of very striking improvement. The solidated Gas Co. of this city. In February the sudden improvement was the more noteworthy inasmuch as and unexpected announcement that the United States tne advances of the previous year had been of very Steel Corporation had abandoned its policy of main great extent. The further rise in 1909 of course taining prices occasioned a tremendous slump. In simply reflected the great revival in trade, the won- March there was sharp recovery and in April and May derful activity of the iron and steel industry and great buoyancy developed, the Supreme Court decision the improvement in the condition of the roads them- on the commodities clause of the Hepburn Act contributing to that end. In June President Taft's message selves, as also of the various industrial properties regarding the tax on corporation incomes precipitated a which are dealt in on our Stock Exchanges . The violent break. In July, however, there was a renewal of railroads had a double advantage in the fact that buoyancy, and this waR continued into August, carrytheir gross revenues increased by reason of the · ing prices to the highest figures of the year in most expansion in the volume of their traffic, while at cases. In the second half of the latter month there the same time they were able to prevent that inor- came t he alarm regarding Mr. Harriman's condition, leading to tremendous liquidation and very striking dinate augmentation in the expenses which had declines in priceR. Some recovery ensued before the marked the years of large growth in traffic prior to close of August on a suppose<l improvement in Mr. the panic of 1907. This is tantamount to saying Harriman's health, but renewed collapse came after hat the managers succeeded once more in getting Labor Day, when it was seen that Mr. Harriman was https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 15 RETROSPECT. worse, and this continued until the time of his death, which occurred Sept. 9. After that the stock market once more resumed its upward course, and the buoyancy extended into the early part of October, a number of stocks making their high records for the year in this period. Then, however, the successive advances in European discount rates intervened, occasioning large liquidation by foreign holders, again giving a downward turn to prices. The latter part of November came the decision declaring the Standard Oil Co. a comhination in restraint of trade under the law of 1890, and large and general declines were once more the feature. Decemher was a comparatively uneventful month, but wjth prices again tending higher. Under the repeated downward plunges, supplemented also in some instances by announcements of large new stock issues, it happens that some leading share properties do not, after all, show much appreciation in value for the twelve months. New York Central, indeed, with "rights" off, actually records a slight decline, and so does Chicago & North Western. Other stocks that close lower are Great Northern, Illinois Central and Erie. Some of the anthracite coal properties made prodigious advances, and many of the industrial shares are also distinguished for their rise. We show below 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. occasions when rates admitted of gold exports to Europe, and, furthermore, gold was taken all through the year, as already pointed out, for shipment to South America, often irrespective of the prevailing rate of sterling, owing to the fact that the demand upon London had been in great part diverted to New York. In J amiary the tendency of exchange was upward and there were gold shipments to Paris as well as South America. In February there was an easier tendency, but it was not maintained, and gold exports to Argent ina continued. In March about $14,000,000 gold was engaged for London and $5,500,000 for Argentina, but exchange weakened decidedly towards the close. In April rates were irregular, but gold shipments to South America continued. In May rates ruled very high and $11,000,000 of gold went out, this including considerable amounts for Paris and Holland. The same situation continued in June, but in July there was much weakness, and yet nearly 13½ million dollars gold was sent to South America. In August, also, there was weakne3s and likewise in September, and the gold exports in these two months were relatively small and almost whollv to South America. In Octaber, with the rise in Eu~opean discount rates, strength again characterized exchange and the outflow of gold to Routh America. (but not to Europe) was renewed. In November this South American outflow reached very large proportions, exchange holding strong. December brought no change, gold exports to South RANGE OF LEADING STOCKS IN 1909. America continuing, and , exchange rates ruling at Openczosabout the highest figures of the year. ino. Lowest. Hi(Jhest. ino. In the money market extreme ease prevailed until Trunk Linesthe autumn. The call-loan.rate on the Stock Exchange 2 ~~~\i~or fu?a~~======== f:~: 2! i~li1 : gg¾ did not get above 3% until Sept. 30, when the quota2 i~1! ~~~~~-~i~-~-~~~-o-~i~= ~~¾ ft~Id~ ff¼ .Pueie ~ g1 ½ tion touched 4%. Most of the time during the first ~ ~ 8t?Ja:oH:in~~s== 1 ~~ ¾ 1 ii 1ii ¾ ii 1 nine months the prevailing rate for money on call was Pennsylvania ___________ t32¼126½Feb.2315t¼Sept.29 137½ 1¾@-2%. In October and November 4% and 5% Wabash 19 ½ 15 Feb. 23 27 ¾ Dec. 30 27 coal Roadswere the prevailing figures, with occasional spurts to 2 £~ir:~~I:a~~I!Wlsterii ~~t i i~ji ~~ 6%; while in December 7% was reached. Time money 1 1 f;~t;'t~a~er~~~~~===== ~~ ~ i~ ¾ ~i lfe~. it ng and commercial paper the last three months also ruled ~eid~~ta_r~~-~-:".:~s:~~~== 1!i 1t:¼ ~i 1~1~ ~~g:_ 1i ii~½ at high figures, though with a recession at the very Mch 3 189 ¾ Oct w~s;~~1a, 11!,1:tdP~~fA~~-=-=------- 177 165 With discounts abroad ruling at unusual figures 5 181 ½ close. Chicago & Alton_________ 67¾ 57¾ Feb. 24 74¾ April 1 66¼ and with the banks called upon to meet the demar:d to Chicago Mllw. & St. PauL 151 141 Feb. 23 165½ Sept. 18 158¾ d f · Chicago & North western_ 184 113 ½ Feb. 24 198 ½ Aug. 18 182 ¼ move the crops, and also the deman s o a very active 2 g~~~:~o&&R~g1g~:~~e==== ~b½ 1}¾ ?;! i i~¼ i~~u2i trade, and obHged, moreover, to make large gold shipm~i1sN8~~~t~~~f_e~~~= m¾ ~i i~t g ments to South America in order to help out Europe, M~~h~::~~~ifc~-~~==== t~i-. 2! it~. 1i easy money here was of course out of the question. Rock Island company____ 25 20¾ Feb. 24 81 Dec. 21 54¾ Government revenues continued in excess of receipts, Preferred 61 ¼ 57 % Feb. 24 94 ¾ Dec. 22 91 southern Pacific-co:::::: 121 114% Feb. 24 139 ½ Aug. 16 138 and the banks gained to some extent, but not la.r gely, Toledo St Louis & West__ 49 ½ 43 Feb. 26 54 ¾ Oct. 19 53 ¾ h t h e re d uct10n · Union Pacific ___________ 184 ½ 112 ½ Feb. 24 219 Aug. 16 204% throug of Government money h oldsoil~h~~t;r-¥~eka & s Fe __ 100 ¾ 97 ¾ Jan. 13 12m oct. 2 124 ings. On Dec. 31 the Treasury money holdings ag~fs:t~i°ii!n~~~tief~ias= gi½ ~!t ~g if ii¼ gregated $308,096,509, as against $313,175,726 on Preferred 73 ¼ n Feb. 23 78 ¼ Oct. 18 74 Jan. 1. The Government's needs for cash were met Missouri Pacific_________ 67 ½ 65 Feb. 24 77 ½ Aug. 5 71 ½ h b k d bl" d st L & San Fran 2d pref__ 42 36 Feb. 23 60 ¾ Sept. 16 59 ¾ mainly by calls on t e an s to surren er pu 1c est Louts southwestern____ 23 20½ Feb. 25 351/s Dec. 7 32¼ 1 Texas & Pacific__________ 36½ 30 Feb. 24 40 ½ Aug. 23 36 ¾ posits, and these public deposits Dec. 31 were on y$47,so~t~:~~e!:~:d,tohio______ 57 ¾ 55% Jan. 6 91 ¼ Dec. 31 91 ¼ 926,877' against $123,928,436 Jan. 1. The small 1 ~~~~Yi11l &vfe:i:;n~1~==== 1:~ ½ 1~1 ¼ f:~: 2 : }g~ ½ g~ ~ amount of money which the banks in the country as a soi~!f!~erat~~::~===== ~£% ~~ f:~: 2i ~i½ g whole gained as a result of the diminution of Gov rnMiscenaneous ment money holdings was lost many times over by the Amalgamated Copper 84½ 65 Feb. 26 96½ Nov. 19 90½ Amercar&Found -==== 50¾'. 44¼ Feb. 24 76½ Nov. 4 72½ large gold exports from New York. On the other !:!~g:~ !~ ¼ !~ ½ i~%·. 21 ~ i1 ¾ hand, there was a large expansion in the volume of f:~~ ~~g~;1flet1t1~;~~~~! 1 gf ¾ 1g~ i~~-- ii 1 ~e~;·~-- ~~ 1 ~ national bank circulation, which on Dec. 31 (taking !merTale1bhone&Telegr_ 1 ~i~ 1 2~ iefc~-:~x i1¼ circulation based on bonds) - was $683,401,523, as B~:g~g,: R~gE?'.r;ansit= = 67 ¾ 67 Jan. 9 82¾ June 7 80 against $628 '786,205 Jan. 1. Colorado Fuel & Iron_____ 40 ¾ 29 Feb. 23 53 Dec. 14 49 ¼ General Electric _________ 157½ 150½ Feb. 23172¾ Aug. 12 159½ We observe t h at t h e Government f or D ec. 31 repor t s m m½ m~ irn !rn t~t t~~: mm urn urn m~ ~m m½ m m~ gm urn ,~t m ,~t ,~t !rn m~ m~ m~ t~t t~r rn t~t ~rn ~~1~~oit:=: :~¾ ~:t Interboro-Metropolitan International Harvester== irn ~~;: m irn m~ 17 ½ 11 % Mch. 23 25 ¾ Dec. 8 24 ¾ 65½ 62 Jan. 30 118¾ Dec. 31 117½ 2 1 :a~1~!~f~a===== 1~:¼ 13~½ ~~~.. ~ 1~m 1 0 ~~~~«::t-Braii:e===== ½ ¾'. ¼ ~~~: Pacific Man steamship___ 36 29 ¼ Feb. 24 48 ½ Nov. 21 43 People's Gas Lt & Coke ___ 105 101 ½ Jan. 13 120 Aug. 16 116 ½ Pressed Steel car________ 42 30½ Feb. 23 56 Aug. 3 51 ¾ Republic Iron & Steel 25 ¾ 16% Feb. 23 49½ Sept. 29 46 united states Rubber==== 34 ½ 21 Feb. 24 57% Aug. 19 53 u ~r~l;ife~orporation ____ 1tg¾ 1M¾'. 1?f ¾ 1~i western union Telegraph_ 69½ 64 Feb. 24 85¼ Nov.16 11 ll1;~1!~t~ l~g~ f:~: ! 0 ~:!! iI I6 i~t ~1 gi J!t ~f t irn 8~t ! a Par value 1s $50 per share and price 1s dollars per share; not per cent. b Voting trustee certltlcates stamped extended. c Par value is $25 per share and price is dollars per share; not per cent. In foreign exchange strength and high rates were the predominant characteristic nearly all through the 'ar. There was not a single month when prices of exchange admitted of gold imports to New York from Europe, while on the other hand there were several https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis • the amount of money in circulat10n at $3,122,154,538, as against $3,092,315,703 Jan. 1 1909. It i8 to be noted, however' that the trust. companies of this city were required by Feb. 11909 to have on hand the maximum amount of cash reserve required under the law of 190S, and that these trust companies i_n Greater New York held $129,506,200 of specie and legal tenders Dec. 31, as against only $95,455,200 on Jan. 2. The surplus reserves of the Clearing-House banks, ac· C0r d"Ing to th e fi gures 0f aC t Ua1 C0n d"t" i 10n, Were a t th ell" highest June 26 at $38,207,250. The low point was I Oct. 2, when the amount ·was only $1,627,52~. The I surplu~ D~c. ~1 was $3,489,100_. ~oney holdings by I these mstitut10ns were _at their highest July 10 at $391 1 235,800 and at their lowest Dec.31 at $296,354,- 16 RETROSPECT. 700. The money holdings of the trust companies and State banks outside the Clearing House were at their maximum Feb. 6 at $156,792,900, with the amount Dec. 31 $144,849,000. The aggregate volume of business on the New York Stock Exchange for the lasteighteenyears is indicated in the following. · SALES AT THE NEW YORK STOCK EXCHANGE SINCE 1891. Railroad and Railroad and Miscellaneous Miscellaneous Stocks.* BoruJ.s. 1892 1893 1894 1895 1896 1897 1898 1899 l!J00 1901 1902 190.3 1904 1905 1906 1907 1908 1. 909 --------------- ----- ---------------- ----- -- ------------------------------------------------------ sf1°i.ro92 80,977,839 49,075,032 66,583 ,232 54,654 ,096 77,324,172 112,699,957 _________________ 176,421,l:-!5 13 .380,184 ----------------- l\65,944,6.39 ----- -------- -- -- 188,503,403 - ----- ----------- 161,102,101 -----------------, vn,31.2,065 ____________ _____ 263,081,156 _________________ 1284,298 ,010 ----------------- 196,438,824 ------ - ---------- 197,206,346 ____ -- _ -- ___ -- --- '.?14,632,194 485,857,400 351,%4,450 339,9.~0.250 499,75~.080 363,158,820 5:t!l,841,960 888,747,630 82G,7 11,400 569,159,000 994,235,400 879,749,150 684,300,400 1,014,812,100 815,716,200 605,554,2(10 456,116,300 999,025,800 1,279,404,100 Government Bonds. State Bonds. l,72'$9,100 4}93,950 2,143,250 3,792,800 4,345,400 10,929,900 7,480,:./50 5,583,200 26,494,150 2,284,000 10,394,950 2,004,9.50 24,581,980 3,642,700 10,582,180 2.013,200 7,012,080 2,082 ,200 1,892,670 2,502 ,800 1, 37& .050 3,675,900 1,16:.:l,050 470,600 681,1so 24,652,575 1,189, 120 x207,513,450 1,809,800 67,588,850 858,050 69,196,100 521.~20 81,71.3,500 771,200 37,115,700 * This includes all ~tocks (except birnk stocks) and al.do trust certtflcatt'S, &c., sold In the "unlisted" department, except petroleum certificates sold by barrels. x Largely Japanese bonds. Below we bring together some general statistics for 1909 and 1908, affording an interesting contrast between the two years. GENERAL SUMMARY FOR TWO YEARS. 1909. 1908. - - - - - - - - - - - - - - -I- - - - - - b - - - - - Coin and currency in U.S. Dec. 31_ ____ $\ *3,426,221,946 *3,399,116,912 Bank clearings in United States ________ $ 165,608,879,423 132,408,849,136 Business failures _____________________ $ 154,603,465 222,315,684 Sales at N. Y. Stock Exchange ___ shares 214,632,194 197,206,346 Imports of merchandise (12 months) ____ $ 1,475,612,580 1,116,374,087 Exports of merchandise (12 months) ____ $ 1,728,203,271 1,752,835,447 Net exports of gold (12 months) ________ $ 88,793,855 30,969,357 Gross earnings 531 roads (12 months) _ __ $ 2,696,786,503 2,412,570,651 Railroad constructed _______ ~ _____ mlles Est. 4,000 3,654 Wheat ralsed __________________ bushels 737,189,000 664 ,602,000 Com raised ____________________ bushels 2, 772,;l76,000 2,668,651,000 Oats ralsed ____________________ bushels 1,007,353,000 807,156,000 Cotton ralsed _______ _- ____________ bales (?) 13,828,846 Pig iron produced _____ (tons of 2,240 lbs.) 25,795,471 15,936,018 Steel rail productlon _____ ___ (gross tons) (?) 1 ,921,611 Lake Superior ore shipments_(gross tons) 41,683,873 25,427,094 Cop~r ~roduction in U. s_________ lbs_ ·t,495,403,056 1,16 1 ,176,085 fe1:ro1!~ i~tJ~~!f~~s(~t~~~ °J~s~t~£~fs~ Immigration into U.S . (12 months) ___ No l;i:888:ggg 907,195 l;tm:m 410,319 • A revised estimate of stock of gold coin was adopted Aug. 1 1907, a reduction of $13!>,000,000 being made. JANUARY .-Current Events .-'trade revival did not make the progress which the sudden burst of activity the previous Oct. and Nov. with the assurance of Mr. Taft's election had led the business community to look for. Instead, a very quiet state of affairs developed, creating some feeling of disappointment. Confidence, however, was not impaired, though certain court decisions, as noted below, were looked upon as rather disturbing. The prospect of tariff revision after March 4 exercised a deterrent effect in many branches of trade. In iron and steel a quite general shading of prices occurred and production appeared to be in excess of current requirements. The "Iron Age's" monthly comoilations showed that the make of iron was fast approaching ull totals, the January output being 1,800,867 tons, against 1,740,912 the previous month, 1,567,198 in October and 1,092,131 tons the previous June, and comparing with a maximum of 2,200,000 to 2,300,000 tons per month in 1907. The return of the U. S. Steel Corporation for the December quarter showed an only slightly larger total of unfilled orders for Dec. 31 1908 than for Sept. 30 1908, namely 3,603,527 tons, against 3,421,977 tons. In the copper trade, too, _product was running in excess of demand; hence, notwithstanding large amounts of the metal were placed abroad, the price declined to 13½ cts., against 14½ cts., reached after the Presidential election the previous November. There was also a great increase again in the idle freight cars on the railroads, the number for Jan. 20 being reported 311,664 and for Jan. 6 333,019, against 222,077 the previous Dec. 23 and only 110,912 the previous Oct. 28. Among the court decisions alluded to above, that of the U. S. Supreme Court in the case of the 80-cent gas law of this State came first. The Court on Jan. 4 announced its conclusions and enumerated the points on which they were based; the full opinion was not handed down until the following Monday. U. S. Circuit Judge Hough, who had declared the 80-cent gas rate unconstitutional, was reversed. Justice Peckham, who wrote the opinion, pointed out that though some of the provisions of the law were clearly invalid-more particularly the penalties clause and the requirement that the Consolidated Gas Co. must maintain a certain pressure of gas in its mains-yet, as there appeared a possibility that the 80-cent rate might yield an adequate return on the capital which the company had invested in the gas business, the Court would not condemn the law as a whole until by trial it was actually established that the rate was confiscatory. A like decision was handed down the same day (Jan. 4) in a somewhat https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis similar case, namely that of the City of Knoxville against the Knoxville Water Co., where also the lower Court was reversed. ' Both decisions were concurred in by the whole Bench. What provoked disquietude was the likelihood that under these court rulings, it might be necessary, in many cases, for public service corporatiotls to suffer heavy losses in order to demonst rate that a rate fixed was confiscatory before the courts would interfere. On Jan. 18 the U. S. Supreme Court by a unanimous vote also affirmed the decision of the Texas State Court rendered June 1 1907, ousting the Waters-Pierce Oil Co. (a Standard Oil auxiliary) from the State of Texas for violation of the State Anti-Trust law and imposing a fine upon it of $1,623,900. On the first day of the next month (Feb. 1). there came still another important decision, this time by a divided Court-5 to 4, the minority consisting of Justices Holmes, Brewer, White and Peckham. The case was that of the Continental Wall Paper Co. vs. the Louis Voight & Sons Co. of Ohio. The Wall Paper Co. was held to be an illegal combination under the 1890 law and the Court decided it could not collect a debt of $56,762 owing it by the defendant company. A court ruling of a favorabl e nature was the denial by the Supreme Court on Jan. 4 of the application of the U. S. Government for a writ of certiorari to review the decision of the U. S. Circuit Court of Appeals for the Seventh Circuit, which t he previous July had reversed Ju,dge Landis's notable decision imposing a fine of $29,240,000 on the Standard Oil Co. of Indiana. No opinion was filed. ·The Government decided to re-try the case in accordance with the rules laid down by Judge Grosscup. The second trial ended in a fiasco, as noted under March. The weather during January was extremely mild nearly all over the country, though towards the close a severe storm, a t tended by a heavy snowfall and high winds, temporarily interrupted train service over some of the lines north and west of Chicago, and also in some instances from Chicago to the Southwest. Middling upland cotton in New York closed at 9.85 cents, against 9.35 at the opening, after having ranged between 9.25 and 10.00 cents. The depositary banks were called on for $25,000,000 Government funds, $15,000,000 payable Jan. 23 and $10,000,000 Feb. 10. Government revenues continued short, January receipts having been only $47,480,000 against disbursements of $63,024,000. Government deposits with the banks were $100 ,511,200 Jan. 31, against $123,928,436 Jan. 1, and money holdings in sub-treasuries were $310,782,444, against $313,175,726. Bank note circulation secured by bonds increased from $628,786,205 to $630,309,637. The Bank of England Jan. 14 raised its discount rate from 2½ to 3%, A further advance was at one time looked for, 'but was averted by the action of French bankers (who had been from week to week buying up the gold arrivals in London from South Africa) in refraining from bidding for the Cape gold offered on Jan. 25. The Bank was able during the four weeks ending Jan. 28 to increase its bullion by £3,521,974, the gain, however, consisting chiefly of a return of gold from internal circulation. The long-expected Russian loan_ was brought out and was for $280,000,000, with the interest 4 ½ % and the issue price 88 ¾. The loan was over-subscribed in both France and England. A favorable event was the acceptance by Turkey of Austria's offer of $10,800,000 as compensation for Austria's annexation of Bosnia and Herzegovina. The latter part of- the month, however, apprehensions of disturbances in the Balkans were renewed by reports of the mobilization of the Bulgarian reserves on the Turkish frontier. Bankers in this city offered for sale some of the bonds out of the Coffee Valorization loan for $75,000,000 brought out the previous month by the State of Sao Paulo and guaranteed by Brazil. Bankers here also offered $1,600,000 5% silver bonds of the State of Duran.go, Mexico. A 3 ¾ % loan of the Dominion of Canada for £6,000,000 was offered in London at 99¼, but only about 41% was subscril;>ed for, leaving 59% to _be taken by the underwriters. The Minn. St. Paul & Saulte Ste. Marie (a subsidiary of tlie Can. Pac.) acquired the Wis. Cent, and a syndicate, headed by Edwin Hawley, purchased control of the Ches. & Ohio. W. C. Brown, the new President of the N. Y. Central, assumed office; more noteworthy still was the election of E. H. Harriman to the Central's board of directors. The Va. Court of Appeals in the case of the various Southern roads against the Virginia Corporation Commission, in the matter of the order of that body fixing passenger rates at 2 cts., denied the application of the roads for an appeal from the order of the Commission. Denial was on the ground that the time for taking an appeal had expired. The U. S. Supreme Court the previous Nov. 30 had reversed U. S. Circuit Judge Pritchard in declaring the 2-cent rate void because confiscatory. That reversal was on the theory that the roads had erred in their method of procedure, inasmuch as they should first have taken an appeal to the Virginia Court of Appeals. In its reversal, however, the U. S. Supreme Court had expressly stipulated that if it should be found that it was too late to take an appeal, the order of Judge Pritchard enjoining the Virginia Commission would have to stand. In the Fifth Municipal Court in this city, Justice Young on Jan. 27 decided in favor of Thomas F. Ryan , H. H. Vreeland and others in the ~uit brought some time previously charging them with guilty knowledge of various alleged fraudulent and dishonest acts in connection with the affairs of the Metropolitan Street Ry. Co. In the Common Pleas Court No. 2 at Philadelphia on Jan. 27 in a RETROSPECT. test suit brought by the city against the Phil. Rapid Tran. Co. the company was sustained in refusing to issue transfers except on the payment of an extra fare. The Court held that the giving or withholding of such transfers is part of the managerial policy of the company in the developing and establishing of its business which necessarily must change with the change of conditions in different localities. Governor Hughes of this State nominated Frederick A. Wallis State .Supt. of Insurance to succeed Otto Kelsey. The nomination, however, was subsequently withdrawn because of allegations of violations of the insurance laws made against Mr. Wallis in his capacity as an agent of the Home Life Insurance Co. The next month William Horace Hotchkiss was confirmed by the Senate as Superintendent. Mr. Wallis had demanded an investigation of the charges against him and the Senate adopted a report of its Insurance Committee completely exonerating him. Elihu Root resigned as Secretary of State in President Roosevelt's Cabinet. He had been elected U.S. Senator by the N. Y. Legislature for the term beginning March 4. He was succeeded by Robert Bacon, at one time a member of the firm of J.P. Morgan & Co., and who had been acting as Asst. Secretary of State. Before retiring Mr. Root concluded an important treaty with Ambassador James Bryce of Great Britain providing for the settlement of disputes between the United States and Canada. Though designated as the Boundary or Waterways Treaty, its scope is much broader, and it provides for a permanent Joint High Commission for the disposition of differences between the two countries. This. treaty was not ratified by the U. S. Senate until March 4. Mr. Root also reached agreements for a convention (ratified by the Senate Feb. 18) for the submission of the Newfoundland fishery dispute to The Hague Tribunal to determine the rights of American fishermen in the waters of British North America under the terms of the treaty of 1818 (this being the first dispute to be submitted to arbitration under the Arbitration Treaty with Great Britain) and for a Pecuniary Claims convention for the settlement of claims arising out of seizures for fishing in Newfoundland waters. The N. Y. Stock Exchange disciplined Arthur E. Grannis, formerly of the firm of Grannis & Lawrence, by suspending him for a period of three years. The suspension was based on transactions which Grannis & Lawrence had had with the failed firm of Coster, Knapp & Co. Later in the month Clarence M. Cohen of Cohen, Greene & Co., was expelled from membership on the ground that he had made a "misstatement upon a material point when he appeared before said Committee on Admissions as an applicant for admission on Sept. 27 1900." The misstatement is understood to have been a denial that any one was interested in the purchase of his seat besides himself. Mr. Cohen began suit for reinstatement. At the bank elections in this city, George F. Baker retired .as President of the First Nat. Bank of this city and James Stillman as President of the Nat. City Bank. Both were chosen Chairmen of their respective boards of directors. Mr. Baker was succeeded as President by Francis L. Hine, previously Vice-President of the First Nat., and Mr. Stillman by Frank A Vanderlip, also previously Vice-President. ·A collision in a dense fog early in the morning of Jan. 23 between the White Star steamer "Republic" and the Italian Lloyd steamer "Florida" off Nantucket Light was attended by some dramatic incidents and resulted in the eventual sinking of the "Republic" after all the passengers had been rescued. Aid had been summoned by means of wireless telegraphy and the event furnished a notable demonstration of the value of a wireless equipment for vessels at sea. President Roosevelt made reply to the resolution of the House .of Representatives adopted the previous month asking him to transmit any evidence upon which he based the statement in his message with regard to the change made by Congress in the measure relating to the Secret Service, to the effect that "the chief argument in favor of the provision was that the Congressmen did not themselves wish to be investigated by Secret Service men." He denied that he had made charges against any member of Congress, but reiterated his position with reference to the Secret Service. This reply aroused the indignation of the House and on Jan. 8 a resolution was adopted by a vote of 212 to 35 declaring that the language in the President's message was "unjustified and without basis of fact and that it constitutes a breach of the privileges of the House;" furthermore, the reply, "being unresponsive to the inquiry of the House" was laid on the table. A bitter and very offensive general personal attack, however, made later in the month by Congressman Willia~ Willett, a Democrat from Queens County, N. Y., was interrupted in the House of Representatives and the remarks eventually expunged from the records. In a special message to the Senate, Mr. Roosevelt declined to permit Attorney-General Bonaparte to reply to a _resolution of the Senate dire·c ting the AttorneyGeneral to furnish information concerning the action of the U. S. Government on the absorption of the Tenn. Coal & Iron Co. by the U. S. Steel Corporation at the time of the panic. The President furnished the facts himself and said that he was personally cognizant of and responsible f.or every detail of that transaction, and he did not "conceive it to be within the authority of the Senate to give directions of this character to the head of an Executive Department or to -demand from him reasons for his actions." In a special message he called the attention of Congress to the Supreme Court decision in the Harriman case the previo_u s month and https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 17 asked the passage of a law to compel a witn·ess when subpoenaed to appear before the Inter-State Commerce Commission to produce books and papers when so required and also urged endowing the Commission with authority to compel postponement of proposed advances in railroad rates. Congress appropriated $800,000 for the relief of the sufferers from the earthquake in Italy the month before. Letter postage to Germany was reduced to 2 cents an ounce on letters dispatched direct from the United States to Germany, bu t not via England or France. Rai.lroad Events and Stock Exchange Matters.-The market experienced a sharp set-back in January and some wide flu ctuations occurred. Prices had opened in a rather bu oyant way, but on Monday, Jan. 4, the Consol. Gas decision was announced and dealt prices a serious blow. In Consol. Gas itself a tremendous break occurred. The whole list declined in sympathy. The latter part of the month a number of leading stocks, notably N. Y. Cent. and Balt. & Ohio (the former on the entrance of Mr. Harriman to the b oard of directors) displayed great strength and a part of the previous loss in prices was recovered. Both the shares last mentioned had on Jan. 4 (before the Gas decision worked such havoc) reached a higher level than. at any time during 1908. Some of the low-priced shares were also again whirled up, either on actual changes in control like Ches. & 0. a nd Wis. Cent., or on rumors of buying for control, as Kan. City So. and Mo. Kan. & Tex. The anthracite coal sharesin particular Reading and Del. & Hud.-were inclined to heaviness, owing to the mild weather and to fears of an adverse decision in the suit involving the constitutionality ·of the Commodities Clause. The copper shares were depressed on the unfavorable state of the copper trade. Mil. & St. P. com. dropped from 151¾ Jan. 4 to 146¾ Jan. 13 and closed Jan. 30 at 148½. N. Y. Cent. touched 132¾ Jan. 4, got down to 123 Jan. 6 and closed at 126½, Penn. decline9from 135 Jan. 4 to 130% Jan. 30. Reading com. fell from 144¾ Jan. 4 to 131½ Jan. 30. So. Pac. com., opening at 121 Jan. 2, got down to 116¾ Jan.13, advanced to 121½ Jan. 22 and closed at 117½. Un. Pac. com. was 184½ Jan. 2 and 175% Jan. 30. The extremes for Consol. Gas were 165¼ Jan. 4 and 117½ Jan. 26, with the close 121¼, Amal. Cop. declined from 84¾ Jan. 2 to 73x Jan. 30; Steel com., opening at 53%,declined to 51½ Jan. 14,advanced to 55½ Jan. 22 and closed at 52. An important change was made in the method of quoting bond prices on the N. Y. Stock Exchange with the beginning _o f this month. Previously the practice was to quote "flat"-that is accrued inter.e st was included in the price. Under the new method accrued interest must be paid in addition to the price. In other words, the method now is to quote "and interest." The next month a similar change was inaugurated at some of the ot her stock exchanges, notably Philadelphia, Baltimore, St. Louis and Pittsburgh. Chic. & Alt. declared 2% on its com. stock, payable Feb. 15; a first dividend of 1 % had been paid the previous August. No. Amer. Co. declared 1¼%, payable April 1, the first since Sept. 1907. Receivers were appointed for the Atl. Birm. & Atl. Numerous new bond issues were floated. Bankers brought out $17,500,000 first and ref. 5s of the Denv. & Rio Gr. Chic. & Alt. sold the $8,000,000 ref. 3s pledged as security for $6,000,000 5% notes. Chic. & Nor. West placed $16,250,000 3½s. Norf. & West. disposed of $10,000,000 divisional 1st lien and gen. mtge. 4s. L. & N. sold to J.P. Morgan & Co. the collateral (aggregating at par $29,864,000) securing its $23,000,00G 5-20-yr. coll. trust bonds of 1903 and gave notice that these bonds would be paid off April 1. Bos. & Maine placed $11,700,000 4½s. Swift & Co. of Chicago offered their shareholders $10,000,000 of new stock at pa-r . N. Y. N. H. & Hart. made a new contract with N. Y. Cent. for the use of the tracks and terminals of the latter in this city. The Money Market.-Notwithstanding the withdrawal of further Government deposits from the banks and the gold exports and notwithstanding the absorptions of cash by the N. Y. trust companies-which were obliged to have on hand by Feb. 1 the maximum amount of cash reserve required under the law of 1908-pronounced ease continued in money. Owing to diminished revenues, Government disbursements were running in excess of receipts, serving to offset withdrawals of deposits from the banks. Then, also, institutions in near-by cities shipped to this center large amounts o.f currency which they were unable to use at home. Call loan~ on the Stock Exchange the first business day touched 3%, but thereafter did not get above 2 ½ and the close was 1¾@2. Time loans were freely offered, but little business was reported, and at the close rates were 2 for 30 days, 2@2¼ for 60 days, 2¼@2½ for 90 days, 2¾@3 for 4 mos. , 3 % for 5 and 6 mos. and 3@3 ½ for all the year: Commercial paper was in urgent demand, banks and trust companies absorbing all available offers, while the supply was meagre. Rates got down to 3¼@3¾ for choice 60 to 90 day double names, 3½@4 for -prime and 4½ for good 4 to 6 months single names. Money holdings of the Clearing House banks, according to the actual figures of condition, rose from $350,838,100 Jan. 2 to $388,002,400 Jan. 23 and were $375,519,100 Jan. 30. Surplus reserves increased from $14,704,375 Jan. 2 to $32,922,275 Jan. 23 and then dropped t o $20,720,050 Jan. 30. Money holdings of the trust companies and the State banks not in the Clearing House increased from $109,740,800 Jan. 2 to $127,709,900 Jan. 30, these latter figures being averages for the week, no others 18 RETROSPECT. being given. Deposits of the Clearing-House banks rose from $1,344,534,900 Jan. 2 to $1,420,320,500 Jan. 23, and were $1,419,196,200 Jan. 30. Loa ns increased from $1,293,502,000 Jan. 2 to $1,347,614,900 Jan. 30. Foreign Exchange, Silver, &c.-Foreign exchange displayed irregularity the early part of January. The latter part the tendency was strongly upward, sterling rates the last day being at the highest figures. of the month. There were considerable exports of gold to Paris and also shipments to Argentina, the demand upon London for Argentine account having been diverted to this country; altogether t he gold exports from this point during the month reached $7,843,125. The advance in the Bank of England rate on Jan. 14 from 2½ to 3%, together with the higher rates for discounts in London than for money in New York, were an influence in the strength of exchange. There was also at times a demand to pay for securities sold for European account. On the other hand , supplies of bills came on the market against New York City revenue bonds placed aboard, and also against loans by railroad and other corporations portions of which had found a market in Europe. Exchange rates were at their lowest Jan. 5 when 60-day bills were 4 8485@ 4 85, sight at 4 8680@4 8685 and cable transfers at 4 8705@ 4 8710. The close Jan. 30 was 4 8515@4 8520, 4 8770 @ 4 8775 and 4 8805@4 8810. Open market discounts at London at the close were 2%@2¾. At Paris rates sharply declined with the placing of the new Russian loan, and the close was 1 ½@2, against 2 % at the opening. At Berlin and Frankfort rates at one time were 2%@2¾, but the close was at 2¼. Silver in London advanced from 23 3-16d Jan. 2 to 24¾d J an . 18, with the close Jan. 30 at 23½d. FEBRUARY.-Current Events.-Unfavorable developments in the iron and steel trades, together with a renewed setback in the copper market, gave a decidedly adverse turn to the general trade situation, and caused a serious break in prices on the Stock Exchange. The U.S. Steel Corporation announced a change of policy with regard to prices . Aftn the close of business on Friday, Feb. 19, Chairman E. H. Gary of the Steel Corporation gave out a statement saying that the leading manufacturers of iron and steel had "determined to protect their customers in order to retain their fair share of the business." Mr. Gary pointed out that since the panic of Oct. 1907, although no agreements had been made as to prices, leading manufacturers had been advising with one another and as a result stability of prices had existed until about J an. 1 1909. As a result, too, of this policy, a gradual improvement in the iron and steel trade had been effected and an increase in sales made. Until within the 48 hours preceding, Mr. Gary asserted, it had seemed that no general reduction in prices would be necessary, but for one reason or another, including particularly the tariff agitation, many of the smaller concerns which had not been disposed to ·cooperate with the larger concerns during, the preceding year had become demoralized and unreasonable cutting of prices had ensued. It was, hence, deemed best for all the manufacturers to sell at such modified prices as might be found necessary. The effect of this announcement was startling and a sharp decline in iron and steel prices ensued-all except steel rails. Manufacturers very naturally were not inclined to make their prices public, but generally a reduction of $4 to $6 a ton took place. Steel billets at Pittsburgh were reduced from about $25 a ton to $20. In steel bars at Pittsburgh an open cut was made from 1 .40 cts. per lb. to 1.20 cts. (a decrease of $4 a ton) and in plates a reduction from 1.60 cts. to 1.30 cts. The leading pipe mills, it was stated, had issued new discounts on merchant pipe, showing reductions ranging from $6 to $10 per ton. In the copper trade, with production large, supplies were far in excess of demand, and t he metal dropped to about 12½ cts, though after the close of the month large purchases for foreign account were reported, and these were said to have been on a basis of 13 cts. Other branches of the metals markets were also weak, in particular lead. At a meeting of the Southern Hard Yarn Spinners' Assn . a committee was appointed to formulate a plan of curtailment. Print cloths at Fall River continued at 3 7-16 cts., t h e price ruling since the previous Dec. 2d. Middling upland cotton in this market got up from 9.85 cts. Jan. 31 to 10 cts. Feb. 8, but closed Feb. 27 at 9.65 cts. A sharp speculation developed in grain, and May wheat at Chicago rose from $1.07 ½ Feb.1 to $1.19 Feb. 27 and at New York from $1.11¼ to $1.23. A powerful bull clique was at work and there were repor ts of a diminished Argentine crop, possible damage to our own winterwheat crop, owing to the lack of a sufficient snow covering, and rumors of the appearance of the Hessian fly in parts of Kansas and Missouri. Corn and oats also sharply advanced, May corn at Chicago rising from 63 to 66 ½ cts. and May oats from 51¾ to 55½ cts. In the stock market the influence of the break in steel prices was accentuated by the adverse report submitted on Saturday, Feb. 20, by a sub-committee of the Senate Judiciary Committee which had been investigating the absorption of the Tenn. Coal & Iron Co. by the U. S. Steel Corporation in 1907. The text of this report was not made public, but there was no concealment as to its character. The committee the next month (Mch. 1) voted to report totheSenate a disagreement, so as to leave each member free to express his own opinion. On March 2, however, seven members of the committee, being a majority, signed a statement unofficially condemning the President, four of them without reservation and three with https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis accompanying personal explanations. On Feb. 23 the U. S. Supreme Court affirmed the decision of the U. S. Circuit Court for the Southern District of N. Y. imposing fines of $134,000 on the N. Y. C. & H. R ~for the granti:mg of rebates on sugar in 1903 to the Amer. Sugar Refining Co. The U. S. Supreme Court also affirmed the decision of the Supreme Court of Arkansas, which had upheld a fine of $10,000 imposed on the Hammond Packing Co. for refusing to produce its books in a proceeding brought to oust it from the State for violation of the State Anti-Trust Law of 1905. Justice White, who rendered the opinion, said it was the duty of a corporation to live in the light of day and to be prepared at any time "to exhibit its proceedings to its creator, the State." Following this decision, the State Prosecuting Attorney filed suits against Cudahy Packing Co., Swift & Co. and various other packing concerns, charging them with forming an unlawful combination to control prices, &c., and demanding $3,300,000 penalties from each. There was notable improvement abroad, bringing with it a marked change in the tone at the foreign financial centres. No little progress was made in composing the troubles in the Balkan regions. As Bulgaria and Turkey could not agree as to the indemnity payment to be made by the former to the latter, Russia stepped in with a proposition that seemed advantageous to both. To make up the difference between the amount Bulgaria was willing to pay and the sum demanded by Turkey, Russia offered to remit so many of the indemnity payments which Turkey had been rµaking to Russia under the Berlin Treaty of 1878 as would equal the required amount-Bulgaria to pay Russia a low rate of interest on the sum and to provide a sinking fund forthe amortization of the debt. Russia also offered to lend to Bulgaria the 82,000,000 francs which the latter was willing to pay; charging only a low rate of interest, with 's inking fund on this. The general effect was that the annual charge to Bulgaria would be no heavier than if she had gone into the open market to borrow the 82,000,000 francs and paid the higher rate of interest which she would undoubtedly have been obliged to pay. During the month,also, King Edward of England, with Queen Alexandra, paid a visit to Kaiser Wilhelm at Berlin and, according to all accounts, was most cordially received; and in speeches both the King and the Emperor pledged themselves to do everything possible to maintain peace. Simultaneously there ca.me the announcement of an agreement between France and Germany for the seetlement of their differences with regard to Moroccan affairs. All this was accepted not alone as an augury of general peace but of a probable betterment of the relations between Germany and Great Britain. The Franco-German agreement was received with great satisfaction, and the effect was to bring about a complete change of feeling on the stock exchanges and bourses of Europe. The new Russian loan having also been placed, France completely abated its inquir;y for gold, allowing the Bank of England to absorb South African gold arrivals. Discounts at all the leading Continental centres declined and there was a definite turning of the foreign exchanges in favor of London. Between Jan. 14, when the Bank rate was raised to 3%, and Feb. 25 the Bank's bullion holdings were increasedfrom·£31,656,183to£37,877,662. TheBankofGermany reduced its· rate from 4 to 3 ½% and British consols got up to 84 13-16, the highest price since the previous October, and comparing with 83 1-16 on Jan. 29. The latter part of the month anxiety was occasioned at times by rumors that war between Austria-Hungary and Servia was inevitable. It developed that Senator Knox of Pennsylvania, to whom Pres.-elect Taft had tendered the position of Secretary of State in his Cabinet, had two years before voted for an increase in the salary of the office, thus making him ineligible under the Constitution. Legislation was had therefore to repeal the increase so far as that particular Cabinet place was concerned, reducing it from $12,000 to $8,000. The salaries of the other Cabinet officers were left at $12,000. The salary of the President of the U.S. was raised from $50,000 to $75,000 but no change was made in the compensation of the VicePres., the Speaker of the House or the Supreme Court Justices as originally proposed. Anti-Japanese legislation was again threatened in California and several other of the Pacific States, but was once more prevented by President Roosevelt. A loan for £2,000,000 by Rio de Janeiro, Brazil, was brought out in London, Berlin and Amsterdam and a considerable amount was applied for by N. Y. bankers and investors. N. Y. bankers took an issue of $3,000,000 4% gold bonds of Porto Rico. On Feb. 3 another call was issued on the banks for the surrender of Govt. deposits, namely $30,000,000, to be . returned by Feb. 24. Govt. deposits with the banks were reduced from $100,511,200 to $72,343,825 and money holdings in sub-treasuries (notwithstanding Govt. disbursements continued to run in excess of revenues) were increased from $310,782,444 to $327,538,428. National bank notes, secured by bonds, increased from $630,309,637 to $635,588,885. Mr. Murray, Comptroller of the Currency, asked the various Clearing-House associations to co-operate in a system of bank examinations independent of that of the Govt., but helpful to it. The full reserve requirements for the trust companies of N. Y. State under the law of the previous year became operative Feb. 1. The Massachusetts RR. Commission declined t8 grant the request of the Northampton Street Ry. to increase fares from 5 cts. to 6 cts. A law was passed by Congress granting to the negro soldiers dishonorably discharged in Aug. 1906 for alleged complicity in the "shooting-up" at I Brownsville, Tex., the right to re-enlist upon proving their RETROSPECT. innocence. A North American Conservation Congress, composed of representatives from Canada, Mexico and the United States, was held at the State Department at Washington Feb. 18 and addressed by Pres. Roosevelt. Mr. Roosevelt Feb. 26 transmitted to Congress the "Declaration of Principles" adopted by this Conference, and on its suggestion forwarded invitations to all the civilized nations of the world to participate in a great conference, at the Hague, for the conservation of natural resources. Mr. Roosevelt sent a special message to Congress urging legislation to compel ocean-going passenger steamships to carry a wireless telegraph equipment; also a message transmitting the report of the Commission on Country Life and urged action for improving the condition of life on the farm; likewise a message asking legislation for the well-being of dependent children and recommending the establishment of a Federal Children's Bureau. Still another message accompanied the report of the engineers whom he had sent to visit the Panama Canal in company with Pres.-elect Taft and who had expressed approval of the lock type of canal; the President declared that any criticism of the lock plan was "really an attack on the policy of building any canal at all." He vetoed the Census Bill as passed by Congress, on the ground that it would involve a continuation of the spoils system. An amended bill was passed at the extra session. Mr. Roosevelt ordered Jefferson Davis's name to be restored on the tablet built into the Cabin John Bridge located a few miles outside of Washington. The name had been erased in 1862. Railroad Events and Stock Exchange Matters .-A big break in prices occurred as the result of the action of the Steel Corporation in changing its policy regarding prices. The first half of the month dealings on the Exchange were on a limited scale, with the fluctuations in standard stocks very narrow, though sharp advances occurred in some low-priced shares; while on the other hand the copper properties were weak on the unfavorable position of the metal and Consolidated Gas declined on the denial of the company's petition for a rehearing in the decision against it in the 80-cent gas case. After the 15th growing weakness became manifest, evidently on knowledge of the unsatisfactory situation of the iron and steel trades. Reading shares seemed to be especially pressed for sale, either on fears regarding the outcome of the demands of the miners for higher wages or because of apprehension concerning the nature of the decision, then looked for, of the U.S. Supreme Court in the case involving the validity of the Commodities Clause of the Inter-State Law. The industrial stocks were weak on the very poor report for the calendar year made by the Pressed Steel Car Co. Even at this time, however, some particular shares showed exceptional strength. Atchison com. on Feb. 17 touching 1031/s, the highest point reached up to that time since 1907. The announcement on the 19th of the Steel Corporation's action was followed on the 20th and succeeding days by a tremendous slump in prices. Liquidation was on an enormous scale. At times utter demoralization prevailed. The Steel shares also suffered from the adverse report regarding the Tenn. Coal &Iron merger. The last few days material recoveries ensued from the extreme low points of the month. Steel com. from 53¼ Feb. 3 declined to 41¼ Feb. 23 and closed at 44%; Amal. Cop. from 77¾ Feb. 11 got down to 65 Feb. 26 and closed Feq. 27 at 68¼. Reading com. tumbled from 134¾ Feb. 15 to 118 Feb. 23, with the close 121 ½; Unfon Pac. com. from 181 ¾ Feb. 15, dropped to 172 ½ Feb. 24 and closed at 177 ½; So. Pac. com. was 120 Feb. 15, 1141/s Feb. 24 and closed at 117; N. Y. Cent. was 129½ Feb. 17, 120½ Feb. 24 and closed at 122½; Penn. was 132½ Feb. 15, 126½ Feb. 23 and closed at 1281/s. Bklyn. Rap. Tr. declared its first div., 1%. Sloss-Sheff. Steel & Ir. increased the quar. div. on com. from 4% per an. to 5%. Birm. Coal & Iron went into receiver's hands. The Public Service Commission at Albany, by a vote of 3 to 2, granted the Erie RR. permission to create an issue of $30,000,000 coll. tr. bonds, but under conditions that were not entirely satisfactory, and the company asked for a modification. The So. _Pac. Co. announced an issue of $82,000,000 4% conv. bonds and shareholders were given the privilege of subscribing at 96. Ch. Bur. & Quin. placed $15,000,000 gen. mtge. 4s. Leh.Coal & Nav. stockholders were allowed to subscribe at par for $1,909,600 new stock. The Balt. & Ohio sold $13,100,000 of Pittsb. L. E. & West. Va. div. 4s. Bankers offered $12,271,000 consol. 4s of Chic. & West. Ind. The Money M arket.-A stiffening in money rates the early part of Feb. was not long maintained. Govt. calls on the depositary banks, the gold exports to Argentina and expectations (which expectations were subsequently verified) that the Clearing-House bank statement for Feb. 6 would show a large loss in money holdings and surplus reserves, owing to the absorption of cash by the trust companies to complete their reser:ve requirements, were responsible for the early firmness. The effect soon passed away. Govt. disbursements kept running in excess of receipts and there was a large return flow of currency from the interior. Accordingly, pronounced ease again developed. The call loan rate Feb. 4 got up to 3%. The close was at 1 ¾ @2. Time money at the close was 2 ½@ 2¾ for 60 and 2¾@3 for 90 days, but no business was reported. For 4 and 5 months offerings were at 3 and for 7 and 8 months at 3¼ and for 9 months at 3½. Loans for 12 mos. wee obtainable at 4. Commercial paper was 3½@3¾ for double names and 4 for prime and 4@4 ½ for good single names. Surplus reserves of the Clearing-House banks dropped from $20,720,050 Jan. 30 to $9,909,300 Feb. 6, increased to https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 19 $15,647,875 Feb. 20 and were $13,345,850 Feb. 27. Aggregate money holdings declined from $375,519,100 J an. 30 to $353,614,600 Feb. 13, increased to $358,864,400 Feb. 20 and were $353,896,600 Feb. 27. On the other hand, the money holdings of the trust companies and State banks not in the Clearing House increased from $127,709,900 Jan. 30 to $156,792,900 Feb. 6 and were $154,583,300 Feb. 27. The deposits of the Clearing-House banks dropped from $1,419,196,200 J an. 30 to $1,362,203,000 Feb. 27 and the loans fell from $1,347,614,900 to $1,311,950,400. Foreign Exchange, Silver, &c.-Foreign exchange, after opening strong, gradually grew easier, but in the last week there was a renewal of strength and rates recovered . Influences in the early weakness were the lower discounts in Europe and the buying of securities for London account, induced by the relaxation of political tension regarding the Balkans and by the Franco-German political compact concerning Morocco. The renewed strength at the close was due to selling by London of American securities caused by the break in our stock market . Gold shipments to the Argentine for the month aggregated $8,450,000. The rise in exchange would have made exports to London also profitable and likewise to Paris as arbitrage operations, but no special inducements existed for such exports. Low figures for exchange were Feb. 16 or Feb . 17, when 60-day bills were 4 8490@4 8495; sight 4 8690@4 8695 and cable transfers 4 8715@4 8720. The close Feb. 27 was at 4 8520@4 8525, 4 874 @4 8750 and 4 8790@4 8795. Open market discounts at London declined to 2½@2¼ and closed at 2¼. At Paris the rate at one time got down to 1, with the close 1 ½- At the German centers rates were higher, with the close 21/s. Silver in London declined to 23 5-16d. MARCH .-Current Events .-This month marked the passing out of the Roosevelt Administration and the advent of Mr. Taft to the Pr€sidency. The personnel of the Cabinet had been correctly foreshadowed and Philander C. Knox of Penn. became Secretary of State and Franklin Mac Veagh of Ill. Secretary of the Treasury. Mr. Taft's inaugural proclaimed adhesion to the Roosevelt doctrines but the language was temperate and the message contained reassuring features. A suggestion favorably received was that nothing but tariff legislation should be attempted at the extra session of Congress. This latter was convened March 15. The tariff bill, as introduced by Chairman Payne of the House Ways and Means Committee, proved more radical than expected. Duties on leading articles of iron and steel were sharply reduced, steel rails being cut from 7-20 of 1 cent per lb. to 7-40 of 1 cent and pig iron from $4 per ton to $2.50. Ironorewas put on the free list, and so was coal, wood pulp and hides. In timber, in leather and in wool the duties were decreased. On a few articles, like gloves and hosiery, there were increases. A tax was proposed on tea, but not on coffee except from countries imposing an export duty on coffee. T he bill also contained a proposal for a Federal inheritance tax as recommended by President Taft in his inaugural message. This latter was at once antagonized by many of the States; in New York the Senate and the Assembly unanimously passed a concurrent resolution requ_esting New York repre- . sentatives in Congress to oppose the proposition. Preceding the introduction of the tariff bill there was a spirited contest by a small body of the Republican majority concerning the organization of the House of Representatives. The contest had a double aspect, being directed against the re-election of Speaker Cannon and also against the adoption of the old rules of the House under which legislation has been concentrated in large part in the hands of the Speaker. Only a small number of the insurgent Republicans went so far as actually to vote against Mr. Cannon, and his re-election was accomplshed without much difficulty. The opposition to the House rules, however, was very determined and as the Democrats joined forces with the seceding Republicans, the result was in doubt. Eventually a resolution offered by Representative Fitzgerald of New York (a democrat acting apart from his party) and providing for only a few routine changes in the rules was adopted by 211 to 172 votes. Further cuts in iron and steel prices occurred. The failure of J. B. & J. M. Cornell Co., a long established local concern in this city, manufacturers of structural iron and castings, attracted much attention. Reductions in wages of iron and steel workers were announced by nearly all the large companies outside the U. S. Steel Corporation:-including the Lackawanna Steel Co., the Pennsylvania Steel, the Maryland Steel, the Jones & Laughlin Co., the Republic Iron & Steel and the Cambria. The reductions generally were 10% and scheduled to go into effect April 1. In the copper trade, too, there was further demoralization. · The monthly statement of the Copper Producers' Association (the second issued) showed an increase in copper stocks during Feb. of 29,153,203 lbs., after 21,773,779 lbs. increase in Jan., and electrolytic copper sold down to 12½@12¼cts. At the close, however, considerable sales of the metal for home and foreign account were reported and the price again got close to 13 cts. The anthracite coal companies failed to reach an agreement with the miners for renewing the threeyear agreement expiring Apr . .1. The miners asked for an increase in wages and made other .demands. The miners1on Mar. 25, however, voted not to suspend work Apr. 1, pending an effort to reach an adjustment. Cotton got up to 9.85 cts. Mch. 2 and closed at that figure Mch. 31, after having touched 9.60 cts. Mch. 22. Grain prices advanced still higher. May 20 RETROSPECT. wheat at New York touched $1.231/s Mch. 3 and $1.19 ½ at Chicago. The Govt. report, showing larger farm reserves than expected, led to a sharp break and by the 9th the price at New York was $1.17½ and at Chicago $1.121/s. Quick recovery ensued and closing prices Mch. 31 were $1.22 at New York and $1.19¼ at Chicago. May corn at Chicago reached 69¼ Mch. 9and, after declining to 65%, closed at 67 ½ cts. Great Britain continued to deflect the Argentine demand for gold to New York. The placingthepreviousmonth of the Argentine loan for £10,000,000 sterling facilitated the movement. Of this loan £2,000,000 was on Mch.1 re-offered in the U. S. and largely over-subscribed. There were large gold exports likewise to London. Altogether, about $14,000,000 was engaged for London and about $5,500,000 for Argentina. The Bank of England bullion holdings Apr. I were £41,711,090 against only £30,732,402 Jan. 1. The joint-stock banks, which previouly had not been accustomed to hold much gold, began in some instances accumulating an independent stock. This action followed the appearance of a report made by a committee appointed the previous Sept. by the Associated Chambers of Commerce of the United Kingdom to consider the laws relating to currency and banking in the Kingdom. This report commented on the small stock of gold held in Great Britain and suggested itemized monthly statements by all the banks so as to disclose their real condition as regards cash reserves. There was renewed talk abroad of the possibility of war between Austria-Hungary and Servia, but at the close a definite agreement was reached between Austria and the other signatory powers to the Treaty of Berlin involving the submission of Servia to the Austrian terms as to the recognition of the annexation of Bosnia and Herzegovina and the demobilization @f the Servian army. British consols, which had got down to 83½ Mch. 24, were Quite a stir was created in Great 84 13-16 Mch. 31. Britain during the discussion of the naval estimates in the House of Commons, growing out of statements that Germany's program for a larger navy was being carried out with such energy that in a few years she would have nearly as many ships of the most destructive type (DreadRoughts and Inviµcibles) as Great Britain, thus endangering British naval supremacy. An incident of the alarm was the offer of several of the colonies-in particular some of the Australian colonies and Canada-to provide some ships at their own expense for the benefit of the mother country. On its retrial, the case of the U.S. Govt. against the Standard Oil Co., for having shipped oil over the Chic. & Aii.ton RR. at alleged concessions from the legal rates, completely collapsed, and the jury on instructions from Judge Anderson in the U. S. Dist. Court at Chicago gave a verdict for the Oil Co. This was the case in which Judge Landis had imposed a fine of $29,240,000. In contrast with the policy of the previous Administration, news dispatches reported that the Govt. intended to take heed and that other similar cases on the DE)partment docket would be abandoned. TheCourt of Appeals of the Dist. of Columbia ruled on the injunction order againi;;f the labor boycott in the well-known case of the Bucks Stove & Range Co. vs. the Am. Fed. of Labor, affirming the order on all essep.tial points, though modifying it in some minor respects. Judge McPherson in the Federal Court at Kansas City declared the 2-cent Passenger Rate Law and the Maximum Freight Rate Law, enacted two years before by the Missouri·• Legislature, void, and made permanent the injunction which the railroads had obtained. Gov. Hughes affirmed the findings and report made the previous Aug. by Commissioner Hand and dismissed the charges against Dist.Attorney Jerome of this city. The six indictments against George W. Perkins, formerly Vice-Pres. of the N. Y. Life Insurance Co. and Chas. S. Fairchild, formerly a trustee of that institution, were dismissed by Justice Blanchard in the Criminal Branch of the Supreme Court on the ground that, under a decision by the Court of Appeals in the case of John R. Hegeman, the accusations against these persons did not constitute a crime. The Supreme Court of Appeals of Va. upheld the constitutionality of the Va. local option or Ward law of 1908 providing special qualifications for electors at elections called to determine the question of licensed saloons, etc. Incidentally, the decision had the effect of removing doubt as to the legality of a number of bond issues aut horized at elections held under that law. Following the Court decision noted under Jan. against the 2-cent passenger rate the Va. State Corporation Commission made an order permitting a 2½-cent maximum rate from Apr. 1. G"Ovt. money holdings were reduced from $327,538,428 to $319,182,525, notwithstanding that Govt. deposits with the banks dropped still further from $72,343,825 to $70,516,470. National · bank circulation, secured by bonds, showed another conspicuous increase, rising from $635,588,885 to $646,142,390. Laws for the guaranty of bank deposits or containing a guaranty feature were enacted in several Western States, namely Kansas, Nebraska and South Dakota, the last named being purely voluntary. On the other hand, in this or preceding or succeeding months bills for the guaranty of deposits failed to pass in Iowa, Georgia, Indiana, Missouri, North Dakota, Colorado,Oregon and Washington. In Texas the · Legislature adjourned Mch. 31 but two hours afterward re-convened upon the call of the Governor, one of the objects of the call being to provide a guaranty deposit law. The special session also having adjourned Apr. 11 without having , nacted the guaranty law, another extra session was called for the next day,IIBill finally passed May 11 1909. Okla- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis homa passed an amendment to its guaranty law. The Equitable Trust Co. of this city absorbed the Bowling Green Trust Co. The Mutual Life Insurance Co. disposed of a portion of its shareholdings in the U. S. Mortgage & Trust Co. to Cornelius C. Cuyl~r (who thereupon was elected President) and some interests associated with him; Mr. Cuyler died the following July. The Mutual Life Ins. Co. also settled the suits brought in 1906 against its former President and other officers and agents, for the recovery of moneys alleged to have been improperly obtained or expended by them, by accepting $815,000 in settlement. New York City placed $10,000,000 50-year 4s at an average of 101.57, making the interest basis 3.93. This compared with 102.385 or a basis of 3.89% at the $12,000,000 sale the previous Nov. A general strike of the telegraphers of the Post Office Pepartment was declared at Paris on the evening of Mch. 15 in which the telephone operators and mail clerks joined, crippling the postal, telegraphic and telephonic services throughout France. Later, the letter carriers also joined, and subsequently 5,000 repairers, line men and mechanics decided to go out, the strike thus embracing all the workmen employed by the Post Office administration. For a time France was practically cut off from the rest of the world. The Govt. put military telegraphers at work. After more or less parleying with the Govt., the strikers returned to work Mch. 23. Libel suits were found by the Federal Grand Jury in this city against the Press Publishing Co., publishers of the New York "World,'' and against the managing editor, charging criminal libel in the publication of stories reflecting on the manner in which the Panama Canal property had been acquired by the U. S. Govt. Previously a similar libel suit had been instituted by the Govt. against Mr. Dela van Smith and Charles R. Williams, owners of the "Indianapolis News." In our remarks for Oct. we note the failure of the attempt to have these men removed to Washington for trial. The Ship Subsidy bill was defeated in the House of Representatives by 175 votes to 172. Congress passed the Currier copyright bill embodying important changes in the copyright laws. Railroad Events and Stock Exchange Matters .-Great activity at rising prices developed on the Stock Exchange the last few days of Mch. and there was a sharp recovery all a.round after the previous month's great break in values. The first three weeks, however, the market was dull, narrqw and irregular. Some stocks were strong and higher even during this period, such as Atchison, Reading, Ches. & Ohio, Un. Pac., St. P., Chic. & Alt., N. Y. Cent. and Wis. Cent. T he latter advanced on the announcement that the "Soo" road had agreed to issue its leased line stock certificates in exchange for the Wis. Cent. pref. shares. The traction shares and Erie were depressed, but in the buoyancy and activity at the close of the month practically the whole list participated. Mil. & St. P. com. sold up from 141 Mch. 10 to 148½ Mch. 31; Gt. Nor. from 138½ to 145½; Nor. Pac. from 135% to 143½; N. Y.Cent.from 122½ to 131½; Penn. from 128¼ to 1341/s; Reading com. from 121½ to 136%; So. Pac. com. from 116¼ to 123½; Un. Pac. com. from 173½ to 185½; Amal. Cop. from 66½ to 75% and U. S. Steel com. from 42½ to 49¼, the highest prices, as a rule, being reached at the close of the month. Consol. Gas of New York advanced from 126½ Mch. 1 to 140 Mch. 31 on two auspicious occurrences: on Mch. 5 the Appellate Div. of the N. Y. Supreme Court, First Div., affirmed the lower Court dismissing the suit brought by former Att.-Gen. Jackson to oust the company from the use of the city's streets on the ground that the company's franchises had expired, the Court holding that the matter was one concerning the city alone; furthermore, Ex-Secretary of the U. S. Treasury, George B. Cortelyou, was elected President of the company. Consol. Coal Co. of Maryland declared a stock div. of 60%. Railway Steel Spring omitted the s. a. div. on com. N. Y. & Har. RR. decided to omit the s. a. div. of 2% usually paid in Apr. out of the rental due from the Met. St. Ry. J.P. Morgan & Co . at the head of a banking syndicate offered at 79 $21,333,000 of dev. and gen. mtge. 4s of the So. Ry. "Soo" road offered shareholders at par $2,016,000 new pref. and $4,032,000 new com. $9,601,000 of gen. mtge. 5s of the Dul. Missabe & Nor. Ry. bonds was offered for sale. Jones & Laughlin Steel Co. placed $15,000,000 30-year 5% bonds. J. P. Morgan & Co. and associate bankers sold $16,500,000 1st mtge. and col. tr. 5s of Pac. Tel. & Tel. Co. at 95½. . The Money Market.-Pronounced ease continued in money, notwithstanding the large gold outflow. Early in the month it was reported that commercial paper of exceptional grade maturing in 6 mos. had been discounted at 2½%, French and German bankers were said to be buying such paper for investment. Coll~teral loans running for a like period were at the time quoted at 2¾@3, with some choice contracts taken at 2½%- Regular rates for paper at the close were 3½@3¾ for 60 to 90 days for choice double names and 3½@ 4 for 4 to 6 mos. prime single names; and 4@4 ½ for good single names. Call loans on the Stock Exchange for the month ranged at 1 ½@2 ½ and time money at the close was 2½ for 60 days, 2½@2¾ for 90 days, 2¾@3 for 4 mos., 3 for 5 to 6 mos. and 3¼ @3½ for over the year. Money holdings of Clearing-House banks declined from $353,896,600 Feb. 27 to $352,461,900 Mch. 13 but were $354,093,300 Mch. 27. Surplus reserves fell to $12,392,925 Mch. 6, rose to $19,433,375 Mch. 20 and were $16,563,175 Mch. 27. Money holdings of the trust companies and State banks not in the Clearing House steadily diminished and were $147,548,900 RETROSPECT. Mch. 27 against $154,583,300 Feb. 27. Clearing House loans fell from $1,311,950,400 Feb. 27 to $1,292,027,600 Mch. 20 and were $1,302,299,600 Mch. 27; deposits decreased from 11-,362,203 ,000 to $1,341,551 ,300 Mch. 20 and were $1,350,120,500 Mch. 27. Foreign Exchange, Silver, Etc.-Exchange was exceptionally strong until towards the close of March, resulting in the large gold exports referred to above. One influence was a demand to remit for sales of securities on London account and to cover a speculatively created short interest, while higher discounts abroad than money in New York contributed to transfers of capital to Europe. Decided weakness came at the close and followed from the decline in discounts in London, checking the transfers of bankers' balances for employment abroad; also from moderate purchases of American securities by European bankers, investments by London in -commercial paper and the drawing of finance bills. With this decline in exchange further gold exports to London became out of the question. Rates were at their highest on Mch. 19, when 60-day bills touched 4 8630@4 8640, sight 4 8825@ 4 8835 and cable transfers 4 8865@4 8875. The close was at 4 86@4 8615, 4 8745@4 8755 and 4 8775@4 8780. Open market discounts at London at the close were only 1½@1 % , at Paris l¼ (after having been 11/s) and at Berlin and Frankfort 2%@2¾ after having been 3. Silver in London fluctuated between 23 1-16d. and 231/sd.,with the close 23 3-16d. APRIL.-Current Events.-A. political upheaval in Turkey, with the deposition of the S1:1ltan (as noted further below) was perhaps the chief event in the world's affairs during April. In the U. S. there was measurable improvement in affairs, notwithstanding tariff legislation proceeded in a very leisurely fashion. The Payne Tariff Bill was passed April 9 in the House and then went to the Senate. In the latter , Senator Aldrich on April 12 introduced an entirely new bill, omitting the inheritance tax provision and differing radically in other particulars from the Payne Bill. Improvement in the iron and steel industry was very noticeable. Early in the month the American Steel & Wire Co., a Steel Corp. subsidiary, announced a reduction of 10c. per 100 lbs., or $2 a ton, in all classes of steel wire products, but, as the independent concerns had been making severe cuts in prices for some time previously, this step was looked upon as merely a recognition of the actual situation. Soon, however, there came developments of the opposite nature. The report of the Steel Corp. for the March quarter, issued April 27, showed that in face of the drastic cut in steel prices made in February the Steel Corp. had earned its divs. in full on both common and preferred shares. Furthermore, on April 27 also there came announcement from Pittsburgh that the Carnegie Steel Co., another Steel Corp. subsidiary, had raised its prices for steel bars and for steel plates and shapes $1 a ton. Prior to the open cut in February, the nominal quotation for l;>ars at P ittsburgh had been 1.40c. per lb. The cut was to 1.20c., and subsequently bars sold at 1.lOc., and even lower. Thenewquotation of the Carnegie Co. for bars was 1.15c. Plates and shapes had been reduced in February from the nominal quotation of 1.60c. to 1.30c. and the price ~mbsequently dropped to 1.20c. or les.s. The Carnegie Co.'s new quotation was 1.25c. The Jones & Laughlin Co., an indep~ndent concern, mmediately followed the action of the Carnegie Co. Another favorable development wa~ the settlement of the d iff~rences between the miners and the opera.tors in the anthracite coal fields and the renewal for another term of three ye~rs ( qr until March 31 1912) of the old wage agreement. The copper trade still kept lagging behind and the statement of the Copper Producers' Assn., issued April 12, showed a further addition to stocks. Speculation in grain made further headway ~nd wheat in Chicago jumped up in a way that was suggestive of an attempt to corner the May option. The ruling spirit in the movement was James A. Patten, of Bartlett, Patten & Co., Chicago. May wheat at Chicago April 15 got up to $1.29¼; then it hegan to weaken, and when it became evident that arge lines of wheat had been liquidated and that the bull eader had retired for the time being to a ranch in Colorado, prices collapsed. By April 24 the May option had dropped to $1.18; by April 30 it was up again to $1.24½. Cash wheat in N. Y. rose to $1.42 for No. 2 red winter. The resultii;ig advance in flour increased the cost of bread and bakers sought to protect themselves either by reducing the size of the loaf or by charging more for it. Thereupon complaint came from the poorer classes as to the cost of bread. Other grain prices also advanced, May corn at Chicago moving up from 65% April 10 to 721/s April 28, with the close April 30 70½c. Rumor had it that some of those who had been engaged on the bull side in wheat were now turning their attention to cotton. Middling uplands in N. Y. April 30 were 10.90c., against 9.85c. March 31. The political upheaval in Turkey had its origin in a revolt on the part of the soldiers in the army corps stationed at Constantinople against the constitutional form o government. These soldiers on April 13 rose against their officers, murdered many of them, and demand~d of the Sultan the dismissal of the Ministry, one of the members of which was also murdered. The Sultan , Abdul Hamid II , yielded only too gladly, and in fact was believed to have instigated the whole affair. For a day or two these officerless soldiers were in complete control and did as they liked. Then it appeared that the Young Turk Party, which had compelled the Sultan the previous year as a result of a peaceful revolution to grant the Co'nstitution and a Parliament, were organizing and coming to https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 21 the rescue. The third army corps, stationed at Salonica, which had remained faithful to the Constitution, began marching on Constantinople. On the morning of April 24 the army entered the capital. The Sultan was again willing to concede everything, but his promises now were of no avail, and on April 27 he was formally deposed , and his brother,Mohammed Reschad Effendi, put on the throne. The latter took the title of Mehmed V. Large numbers of those who had participated in the revolt were executed. In connection with these happenings there was an outbreak of Moslem fanaticism in Turkey in Asia during which an awful slaughter of Armenians and Christians occurred. The upheaval in Turkey, however, did not exercise any great influence on foreign affairs and no serious disquietude was reflected on the European bourses. The Bank of England rate of discount was reduced April 1 from 3 to 2½%- Exports of gold from the U. S. continued. The .metal went chiefly to South America, but on Saturday, April 24, $2,000,000 was shipped to Paris, and coincidentally it was reported that the Bank of France had bought $3,000,000 South African gold in the London market. Govt. deposits in the banks increased slightly-from $70,516,470 to $71,159,294-but Treasury money holdings were reduced from $319,182,525 to $316,609,326. National bank notes, secured by bonds, increased further from $646,142,390 to $653,164,570. T he N. Y. Legislature adjourned April 30 after Gov. Hughes's direct primary bill had been defeated by an overwhelming majority and after having again failed to place telephone and telegraph companies under the jurisdiction of the Public Service Comm . as requested by the Governor. Among the laws enacted by the N. Y. Legislature was one extending from April 1909 to April 1911 the date in which trust companies must dispose of stock held in other moneyed corporations in excess of 10% of the total stock in the case of any one of such corporations. David Lloyd-George, the Chancellor of the Exchequer, submitted his budget to the British Parliament, showing a deficit of $78,810,000 for the fiscal year 1909-10, due to the large appropriations for the navy and the old-age pensions. To meet the deficit Mr. Lloyd-George arranged a scheme of taxation which was widely criticised as socialistic legislation and an attack on wealth. Later in the year a political crisis resulted from the same. The U. S. Supreme Court on April 5 affirmed the decision of the Federal Court for the Western District of Kentucky in the suit brought by the L. & N. and other roads in 1906, holding in valid a general order issued by the Kentucky RR. Comm. assuming to fix rates on all roads and to and from all points in the State. Justice Peckham said that the statute (the so-called McChord law) did not grant such extensive powers as assumed and that the Comm. has no authority to fix rates in general but only after investigation and to amend a rate found extortionate. The U. S. Circuit Court at New Orleans on April 6 dissolved the injunction granted by Judge Jones restraining the Alabama RR. Comm. from putting into effect the 2 ½c. passenger rate and reduced freight rates under the Alabama law of 1907. The Court held that application must first be made to the State courts before redress is asked from the Federal Court. The U. S. Supreme Court on April 26 affirmed the decision of the Federal Court in t his city dismissing the suit brought lily the Am. Banana Co. against the United Fruit Co. under the Sherml,\n anti-trust law for alleged wrongful interference with the business of the company at its plantation in Panama. The Court held that the Sherman law does not extend to acts committed outside the territory "1f the U. S. or by the officers of another Govt. The Phila. R. T. Co. got a decision in itis favor from the Supreme Court of Penn. in the case involving its right to discontinue the issue of free trausfers e.x:cept on the payment of a cash fare of 5c. and also the right to discontinue to sell six tickets for 25c. The American Sugar Refin. Co. made a settlement with the U. S. Govt. of all claims arising out of the charge of underweighing importations of suga:r for a long term of years, paying $2,269,898. Criminal proceedings were brought against the employees alleged to have been guilty of the fraudulent practices. Thomas F. Ryan, P. A. B. Widener, Thomas Dolan and the estates of William C. Whitney and William L. Elkins paid to the Metropolitan Securities Co. $692,293, being the full sum received by them out of the ·purchase money ($965,607) paid by the Securities Co. to Anthony N. Brady for the bonds and stock of the Wall & Cortlandt St. Ferries Ry. (a paper road). The Penn. RR. and its subsidiary organizations re-purchased the $15,000,000 to $16,000,000 Norf. & West. stock sold to Kuhn, Loeb & Co. in Sept. 1906. Cipriano Castro, the former President of Venezuela, landed at the French island of Martinique in the West Indies but was expelled by the French Govt. on the ground that his presence was likely to foment a revolution in Venezuela. There seemed to be a sort of concert of agreement on the part of the other leading governments not to let him debark on any of their territorial possessions and he was obliged to return to Europe. Railroad Events and Stock Exchange Matters.-The upward movement of prices was carried still further and new high records for the year were established on many stocks, though it was noticeable that some of the standard shares lagged behind. The anthracite coal properties were especially noteworthy in the rise. An increasing volume of business in the bond market was one of the conspicuous features. Railroad earnings recorded large gains over the very small totals of the previou3 year, and the good quarterly statement of the Steel Corp., the better prices for steel and the se.t tlement of the anthracite coal controversy were other favoring influences. Cent. of N. J. 22 RETROSPECT. rose from 235 April 7 to 282 April 20; Lackawanna from 549¾ April 1 to 680 April 22, and Reading com. from 134½ April 3 to 148 ½ April 20. The industrial shares were also distinguished for their advancing tendency, and Steel com. rose from 48½ April 3 to 55 April 29. Some of the standard railroad shares did not fluctuate widely and in one of the downward reactions, which occurred on two or three occasions, a few of these touched the lowest figures for the month. Thus Milw. & St. P. com., opening at 149 ½ April 1, advanced to 151 ½ April 6, fell to 146 ½ April 17 and closed April 30 at 149 ½- The Circuit Court of Franklin Co., 0., in the suit brought by the State Attorney-General under the Valentine anti-trust law of Ohio, held illegal the control by the Hocking Vall. of the Kan. & Mich., the Tol. & 0. Cent., the Zanesv. & W est. and the allied coal properties. The Virginian Ry., extending from Sewell's Pt., Norfolk, to Deepwater, W. Va., on the Kanawha River, 442 miles, was formally opened April 2, and the last rail was laid April 1 on the Pacific Coast extension of the Milw. & St. P. The N. Y. Public Service Comm. modified somewhat its order regarding the issue of $30,000,000 coll. tr. bds. by the Erie RR. The syndicate which the previous Dec. had taken $30,000,000 gen. lien 5% bds. of the St. L. & San Fran. RR., bought $18,000,000 additional bonds of the issue. The syndicate headed by J. P. Morgan & Co., in addition to the $21,333,000 dev. and gen. mtge. 4s of the Southern Ry. previously purchased, bought $20,000,000 more of the same issue held as part collateral for the 6% notes due May 11911, and arranged with the trustee to call the outstanding notes. J.P. Morgan & Co. and associates offered $10,000,000 20-yr. 4% deb. bds. of the Mich. Cent. The unsold portion of $10,000,000 1st mtge. 5s of the Car. Clinchf. & Ohio Ry. were also offered for sale. The Money Market.-A slight firmness in money was perceptible at one time during April. The fractional rise brought the trust companies into the market and under their competition rates again fell back the last week. The range on call at the Stock Exch. during the month was 1@2 ½, with the rate April 30 1¾@2. On time the quotation April 30 was 2 ¼ @2 ½ for 60 days; 2 ½@2 ¾ for 90 days; 2 ¾ for 4 to 5 mos.; 2¾@3 for 6 mos., and 3½@3¾ for over the year. Paper was 3¼@3¾ for choice double names and 3½@4 for prime and 4@4½ for good single names. Money holdings of the Clearing-House banks increased from $354,093,300 March 27 to $355,774,700 May 1 (after having dropped to $348,854,800 April 3); but owing to the expansion in deposits, surplus reserves went down to $7,859,475 May 1, against $16,563,17[ March 27. Deposits rose from $1,350,120,500 March 27 tu $1,391,660,900 May 1. Loans increased from $1,302,299,600 to $1,343,247,300. Loans of the trust companies and State banks outside of the Clearing-House increased from $1,075,972,300 March 27 to $1,115,593,600. The money holdings of these institutions May 1 were $146,080,300, against $147 ,548,900 March 27. Foreign Exchange, Silver, &c.-Foreign exchange was irregular during April. The reduction in the Bank of England rate from 3 to 2½% and buying of American securities for foreign account and offerings of finance bills caused a fall in exchange April 1. The following day the tone becaIPe firmer and for a while exchange displayed a rising tendency. The speculation in commodities checked merchandise exports and a demand arose to remit for stocks sold on foreign account so as to realize the profits from the advance on the Stock Exchange. Later the market again declined, owing to continued buying of American securities for foreign account, further offerings of finance bills and a very light demand for remittance due to the fact that some dealers expected a sharp fall in exchange with the collapse of the corner in wheat. At the very close there was another slight upward turn. Exports of gold continued, being $6,269,450 from New York. Except for 60 days, the high figures were reached April 6, when sight bills were 4 8780@4 8785 and cable transfers 4 88@4 8805; 60-day bills were at their highest April 16 and April 22 at 4 8640@4 8650. The low point was April 27, when 60-day bills were 4 86@4 8610, sight 4 8725@4 8730 and cable transfers 4 8745@4 8750. On April 30 the rates were 4 8615@4 8625, 4 8740@4 8750 and 4 8760@4 8770, respectively. Open market discounts April 30 were 1 5-16 at London, 11/s at Paris and 1 ½ at Berlin and Frankfort. Silver sharply advanced and closed April 30 at 24 7-16d. MAY.-Current Events.-On May 3 the U. S. Supreme Court delivered the long-looked-for decision on the so-called Commodities Clause of the Hepburn Rate Law. The Court upheld the provision but construed the language in such a way as to relieve it of its objectionable features. The clause had the previous September been declared invalid by the U.S. Circuit Court for the Eastern District of Penn. by the majority .>pinion of Judges George Gray and George M. Dallas. But the U. S. Supreme Court, speaking by Justice White, said that the law rightly construed did not embody any such vast and extensive prohibitions as urged by the Govt. It was the view of Justice White, and of all his colleagues, that, properly construed, the law prohibits only the transportation by railroad companies of commodities owned at the time of transportation-that it does not prohibit them from transporting commodities manufactured, mined or produced by them previous to such transportation, but which are not owned by them at the time of transportation. The Court also held (Justice Harlan alone dissenting) that the provision does not apply to the transportation of commodities owned by other https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis corporations in which the transporting railway company may have a stock interest. This latter was really the most im.:. portant point in the controversy, since ownership of the mines by the roads is usually held through ownership of the major portion or the whole stock in companies separately organized to hold the mines. The decision was hence regarded as decidedly assuring. On the Stock Exchange the effect was to cause some noteworthy spurts upward in the prices of the anthracite shares and to give renewed impetus to the general speculation for higher prices. A decided improvement occurred in the iron and steel industry. Many mills and furnaces reported plants engaged to about 80 to 90 per cent of their capacity. A very general appreciation in prices of iron and steel products took place. Producers also began to consider the possibility of restoring wages; by July 1 practically all the plants and furnaces which had cut wages April 1 had announced a restoration of the old scales. In the copper trade, on an increasing demand, lake copper advanced to 13 ½ cts. and electrolytic copper to 13¼cts., notwithstanding the return of the Copper Producers' Association showed a further small addition to the previous large accumulations of the metal. Henry H. Rogers, one of the Standard Oil magnatesr who had been very prominently identified with the Amalgamated Copper Co., died May 19, but his death was without influence either in the copper market or o·n the Stock Exchange. Mr. Rogers had also been a member of the board of directors of the Steel Corporation; the vacancy here was filled by the election of Mr. J.P. Morgan Jr., increasing the predominance .of the Morgan interests in that powerful corporation. In the railroad world, also, there were encouraging developments. The Erie announced that it had disposed of the remaining $4,500,000 of the $15,000,000 6% coll. gold notes authorized in April 1908 and that it would not be necessary after July 1 1909 to continue funding coupons. In the grain markets still higher prices were established. The Govt. report on winter wheat issued May 7 was much less favorable than had been expected. It gave the area remaining under winter wheat May 1 as o:nly 27,871,000 acres, against 30,034,000 acres sown the previous fall, and comparing with 30,349,000 acres harvested in 1908. Condition was put at 83.5, as against 82.2 on April 1. The return of James A. Patten after his sojourn on his ranch in Colorado served further to intensify the speculation. The May option at Chicago sold up to $1.35¼; in N. Y. it touched $1.41. The July option at Chicago advanced from $1.111/s May 1 to $1.19½ May 25 with the close May 29 $1.17¼. The May option for corn at Chicago advanced from 70¾ cts. to 75½cts. with the close May 29 74¼ cts. May oats at Chicago rose from 56 to 63 cts. with the close 58¾ cts. In cotton there was likewise a further upward movement and on May 20 I middling uplands in N. Y. sold at 11.80 cts, aga,inst 10.85 cts. May 1 and 10.90 cts. April 30; the close May 28 was at 11 .40 cts. The rise had a stiffening effect on prices of cotton goods, but the American Printing Co. made a cut of ½ct.a yard to 4¾ cts. in printecl wash fabrics. Print cloths at Fall River were 31/s cts. bid at the close, as against the previous nominal price of 3 7-16 cts. Govt. revenues improved, but neverthe less fell 5 ½ millions below the disbursements. Government money holdings decreased from $316,609,326 to $304,468,062; while deposits in the banks increased from $71,159,294 to $72,946,080. Bank circulation secured by bonds rose from $653,164,570 to $656,268,268. There was a renewed strike of the Postal and Telegraph employees at Paris, due to the fact that the French Government would not tolerate the formation of a trades union among such employees, but the strike, while interrupting telegraph communciation with London and Continental eities and also disarranging the postal and transportation service, seemed doomed to failure from the start, and after a vote of confidence in the Govt. was passed by the Chamber.of Deputies by the decisive vote of 365 to 159 on May 13, it completely fizzled out. German and Prussian loans for $200,000,000 were brought out in Germany on May 3 and were very successful. One of the events of the month was the delivery of a signed declaration to the English Prime Minister on May 14 voicing the protest of financial London against the Government's new scheme of taxation. Among the signatories were the heads of some of the world's greatest banking houses, including the house of Rothschild, the house of Baring, the Morgans, the Hambros, Sir Felix Schuster, Lord Goshen, Lord Avebury, &c. Adbul Hamid, the deposed ruler of Turkey, was forced to consent to the release of money which he had held on deposit in foreign banks at European centers and in New York, estimated at about $15,000,000. In addition, he surrendered about $7,500,000 which he had secreted in the Yildiz Palace. The latter part of June it wa.s reported he had paid over $5,000,000 more. A local matter in railroad circles without influence elsewhere was a strike on the Georgia RR. which began May 17 and lasted for 13 days. It was caused by the discharge of ten white firemen and an attempt to put negro firemen in t heir places. This was resented not only by the men themselves but apparently by the. whole population along the line, so that it became unsafe to run trains manned by colored firemen. On May 29 a settlement was reached, the men being allowed to return to work under the conditions existing before the trouble began. The Court of Appeals at Albany affirmed the judgment of the lower courts in dismissing the complaint against the Am. Tobacco Co. and the Metropolitan Tobacco Co. and others. It was alleged in the complaint that the Am. Tobacco Co. owned and controlled "so large a share ;RETROSPECT. of the staple articles and kinds of tobacco marketed in the country that no general dealer or jobber could successfully do business without handling the merchandise owned and controlled by the Am. Tobacco Co.," and that the latter had appointed the Met. Tobacco Co. its exclusive selling agent in New York, and it had refused to sell any of its goods to the plaintiff, whereby his business was destroyed. Chief Judge Cullen, who wrote the opinion, said that the owner of property may sell to whom he chooses and may also control his agent, and that a refusal to sell to any particular individual becomes illegal only when it is done in pursuanqe of a combination with other owners to injure the individual with whom they refuse to deal. The extent of the business, he said, could not affect the rights of the parties. In the U. S. Circuit Court in this city Judge Hough, in a suit brought by the Government, entered an order adjudging the Fibre & Manila Association, organized under the Parks pooling plan, to be an unlawful combination in restraint of trade. Gov. Hughes vetoed the bill proposing a State pension for Civil War veterans and the issue of $2,000,000 of bonds for the purpose, but he approved the bill providing for the submission to the voters of a proposition to issue $7,000,000 bonds for the purpose of improving the Cayuga & Seneca canals; this proposition was the following Nov. endorsed by the voters He also signed the Travis-Robinson bill, changing the Rapid Transit law so as to make it possible to construct additional subways either by private capital or by the city, and providing also that in the latter case the whole, or any part, of the cost of construction may be assessed upon the property benefited. The N. Y. Stock Exchange house of Tracy & Co. was placed in the hands of a receiver on May 17. The Central Trust Co. of this city declared a special dividend of 200% and arranged to increase its capital from $1,000,000 to $3,000,000. The Governing Committee of the N. Y. Stock Exchange adopted a resolution compelling members of the Exchange to sever completely all business relations with members of the Consolidated Exchange. Railroad Events and Stock Exchange Matters .-Further buoyancy developed on the Stock Exchange, though some of the standard railroad properties showed a tendency to react. The U. S. Supreme Court decision on the Commodities Clause came early in the month (May 3), and exercised a potent influence on values throughout the month. In some of the anthracite properties the advances were almost phenomenal. Arnalg. Copper and the copper propertie8 were strong on the rise in the price of the metal, and the industrial shares generally climbed upward on the expanding activity in trade. The last half of the month dealings were of small volume and some recessions in prices occurred, but the striking spurt in the price of the Steel shares gave a renewed fillip to the whole market, and the tone at the close was buoyant again. Del. & Hudson jumped fr m 180 ¾ May 3 to 200 May 14 and closed at 192 ¾x May 28; Cent. of N. J. moved up from 278 May 3 to 298 ½ May 12 and closed at 290 May 28; Reading com. was 143% May 3, 159 ¾ May 20 and 155 ½ May 28; Sou. Pac. com. 118¾ May 3, 124½ May 20 and 1231/s May 28. Amalg. Cop. rose from 76 ¾ May 3 to 85½ May 28 and closed at 85¾, while Steel com. jumped from 54½ May 3 to 641/s May 28. Fed. Min. & Smelt. com . shot up from 70 May 1 to 95 ½ May 12 and closed at 88 May 28. Ches . & Ohio declared a quar. div. of 1%, placing the stock on a 4% basis, as against the previous 1 % a year . Atlantic Coast Line RR. restored its s. a. div. from 2 ½ to 3%. United Metals Selling Co. declared an extra div. of 50%. Cal. & Hecla increased its quar. payment from $5 per share (20%) to $6 per share (24%). Armour & Co., Chicago, sold $30,000,000 real estate 1st mtg. 4½% 30-yr. bonds. J. P. Morgan & Co. brought out an issue of $10,000,000 7% pref. stock of a new dry-goods consolidation, namely the United Dry Goods Companies. The Money M arket.-Still greater ease occurred, notwithstanding the large gold shipments. Several of the trust companies offered loans running into August at 2% per annum. Actual money holdings of the Clearing-House banks increased from $355,774,700 May 1 to $375,536 ,800 May 29 and surplus reserves rose from $7,859,475 to $25,426,925. Deposits increased from $1,391,660,900 to $1,400,439,500, but loans were reduced from $1,343,247,300 to $1,332,573,800. Loans of the trust companies and State banks not in the Clearing House, however, increased from $1,115,593,600 to $1,129,626,700. Call loans at the Stock Exchange on the closing day were 1 ¾ @2 %- Time loans then were 2@2 ¾ for 60 and 2¾@2½ for 90 days, 2½@2¾ for four, 2¾@3 for five, 3@3¾ for six, 3½@3¾ for seven to eight and 3½@4 for nine months. Commercial paper was 3@3½ for double names and 3 ½@4 for choice single names and 4 ½ as the minimum for good single names. Foreign Exchange, Silver, &c.-Exchange ruled high and gold exports continued in large volume until the last week. The controlling influences were the diminished shipments of leading commodities, in particular grain and cotton, owing to the high prices prevailing for such commodities; the large merchandise imports, caused in part by expectations of tariff changes; and selling of American securities by London to realize the profits resulting from the advance in prices on the Stock Exchange. Gold coin was taken for shipment in large amounts in the absence of an adequate supply of gold· bars. Gold engagements aggregated $11,094,572, of which amount about $4,500,000 went to Paris, $2,000,000 to Holland and $4,500,000 to South America. The last week, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 23 as already stated, gold exports ceased. Bankers were then inclined to await the outcome of the $30,000,000 bond flotation of Armour & Co. and the placing of the $40,000,000 New York City bond issue announced for early in June, on the idea that portions of these loans would go abroad, thus creating a supply of bills. All classes of bankers' bills were at their highest May 28, the last business day of the month, 60-day bills being 4 8640@4 8650, sight 4 8780@4 8785 and cable transfers 4 8805@4 8810. Open market discounts May 28 were 1 ½ at London, 1 ½ at Paris and 2 ½ at Berlin and Frankfort. The rise in silver at London was pretty well maintained; the quotation May 28 was 24 5-16d. JUNE.-Current Events.-An amendment to the Tariff President Taft on Wednesday, June 16, sent a special message to Congress urging a tax on corporation incomes. He pointed out the Constitutional objections in the way of levying a general income tax in view of the decision of the U. S. Supreme Court in 1895, holding the Income Tax Law of 1894 invalid; and he accordingly suggested the submission to the States for adoption of a Constitutional Amendment giving Congress express authority to levy a general income "tax free from any of the ·limitations now existing. In the meantime he proposed a 2% tax upon the net income of corporations of all kinds. Mr. Taft said the U. S. Supreme Court decision in Spreckels Sugar Refin. Co. vs. McClain appeared clearly to establish the principle that such a tax would be an excise tax upon privilege and not a direct tax on property, and hence would be within the Federal power without apportionment according to population. The President also indicated that revenue was not the only purpose he had in mind, for he said : "Another merit of this tax is the Federal supervision which must be exercised in order to make the law effective over the annual accounts and business transactions of all corporations." After repeated conferences at the White House, Sen . Aldrich, as Chairman of the Finance Comm., on Friday evening, June 25, reported to the Senate the Corporation Tax amendment suggested . The measure was adopted in Committee of the Whole early the oext month (July 2) by a vote of 45 to 31, as a substitute for the Bailey-Cummins general income tax levy. In the final vote on the same day, in Committee of the Whole, on the question of inserting this Corporation Tax amendment in the Tariff Bill, the vote was 60 to 11. The resolution to submit to the State legislatures a Constitutional Amendment permitting Congress to levy a general income tax, on everybody without restriction, was also introduced, and on July 5 received the unanimous vote of the whole 77 Senators present; it passed the House of Representatives on July 12 by 318 to 14. In the stock market the first effect of the President's Message was to precipitate a severe break in prices. There were also some minor unsettling influences. An attempt to list a block of shares of the U. S. Steel Corp. (or, rather, certificates representing these shares) upon the Paris Bourse met with a hitch and eventually came to naught (see V. 89, p. 1600). The copper trade also again took an unfavorable turn. The monthly statement issued June 10th showed that during May, for the first time in 1909, there had been a decrease in the accumulations of copper, but this followed in great part because of the large exports of the metal, and the result of the latter was. to add still further to the huge total of the foreign stocks. Accordingly, Lake copper after touching 13¾ c. got down to 13¾@131/sc. at the close, and electrolytic dropped from L3½c. to 12.90@13.l0c. In the iron and steel trade great activity was maintained. Crop developments generally were favorable. The Agricultural Dept. made winter wheat condition June 1 only 80.7, as against 83.5 May 1, but spring wheat was given 95.2 with the increased acreage nearly 7%, Wheat prices continued high, the July option at N. Y. selling at $1.27 June 7 and in Chicago at $1.201/s, with the close June 30 $1.26¾ and $1.16. Cash wheat seemed scarce and the unusual circumstance of shipments of wheat from N. Y. to the West and Southwe~t was reported. No. 2 red winter cash wheat sold here at $1.50 a bush. July oats at Chicago dropped from 54½c. June 1 to 48½c. June 30. In cotton middling uplands here were quoted at 11.20c. June 11; the close June 30, however , was at 12c. Print cloths at Fall River were 31/gc. bid until June 8, when the bid was raised to 3 7-16c. The opening of men's wear lines of woolen goods for the spring of 1910 showed the highest prices in a decade. On the goods displkyed by the Amer. Woolen Co. the average was about 25% above 1908. The advance reflected the rise in wool and worsted yarns during the twelve months. The N. Y. N. H. & H. decided with July 1 to restore salaries of officers and employees which had been cut 10% and 5%. Boston & Maine had on May 1 restored the pay of officers, &c., reduced 10% or more on Feb 14 1908 In Mass. a law was passed permitting the incorporat ion of the Boston RR. Holding Co. and the acquisition by the N .Y .N .H.&H. of control of the B.&M. On June 24 Attorney-General Wickersham at Washington announced the discontinuance by the U. S. Govt. of the suit against the N. Y. N. H. & H. for alleged violation of the Sherman Anti-Trust Law in having acquired control of the B. & M. and of numerous trolley lines. Mr. Wickersham said he took this step inasmuch as the community most directly affected by the merger of the New Haven and the -B . & M. was the State of Mass. and the laws of that State had been changed so as to authorize the consolidation. The trolley holdings, he noted, had been held illegal by the Mass. courts, and the New Haven Co. was divesting itself of control. Bill in the Senate proved decidedly unsettling. - 24 RETROSPECT. Govt. deposits in the banks slightly increased-from $72,946,080 to $74,698,615. On June 29 a call was issued for the surrender of $25,000,000 of such deposits-$9,000,000 by July 15 and $16,000,000 by Aug. 15. Govt. money holdings fell from $304,468,062 to $300,341,525. National bank circulation, secured by bonds, increased from $656,268,268 to $659,673,408. In Germany Chancellor von Buelow's taxation and financial schemes, which had already been greatly emasculated through the elimination of the tax on newspaper advertisements and posters, the modification of the tax on light as well as some of the other taxes, met another blow in the rejection by the Reichstag of the proposal to extend the inheritance taxes to direct heirs, including widows and children. Prince von Buelow then announced that he would retain the Chancellorship only long enough to dispose of the budget, and the next month, after the budget as amended had passed, he resigned and was succeeded by Dr. von Bethmann-Hollweg. In London at a large mass-meeting of bankers, merchants and financiers, under the chairmanship of Lord Rothschild, a resolution was adopted declaring that the "main proposals of the Budget (the British budget) weaken security in all private property, discourage enterprise and thrift and would prove seriously injurious to the commerce and industry of the country." In the suit of the Pennsylvania Sugar Refin. Co.' against the Amer. Sugar Refin. Co. to recover triple damages for alleged violation of the Sherman Anti-Trust Law, before Judge Holt in the U.S. Circuit Court in this city, a settlement was reached invoiving the payment, it is understood, of $750,000 cash, the cancellation of the $1,250,000 loan made to Adolph Segal and the return of the collateral given therefor. The U. S. Govt., however, instituted criminal suits, and the next month (July 1) a jury in the U.S. District Court, before Judge Hand, returned an indictment containing 14 counts against the Amer. Sugar Refin. Co. and eight of its officers, including the President and Counsel, the offense charged being conspiracy in restraint of trade and commerce. In Mississippi District-Attorney Lamb at Jackson, Miss., on June 30 applied to the Chancery Court of Clay County for a perpetual injunction restraining the Standard Oil Co. from operating in the State of Mississippi and asking penalties, aggregating $11,000,000, for alleged violation of the State Anti-Trust Law. The Comptroller of the Currency established a credit bureau in his office to guard against over-extension of loans of the banks. N. Y. City placed $40,000,000 4% bonds (all but $2,000,000 running for 50 years) but secured only a trifling premium. Del. & Hud. Co., to comply strictly with the U.S. Supreme Court decision in the case of the Commodities Clause of the Hepburn Law, arranged to turn over to the Hudson Coal Co., all of whose stock it owned, its entire present and future output of coal. Del.Lack. & West. next month took a similar course by organizing the Del. Lack. & W~st. Coal Co. Gov. Hughes vetoed the bill which would have permitted business corporations in N. Y. to issue shares of capital stock without any nominal or par value. The committee appointed the previous Dec. by Mr. Hughes to institute an investigation into the facts relating to speculation in securities and commodities, made its report, and its recommendations and findings were, on the whole, conservative and moderate. Mr. E . H. Harriman made formal 1ransfer of the $5,000,000 stock of the Cent. of Ga. Ry. to tte Ill. Cent. RR. A strike of the trolley employees of the Pittsburgh Rys. Co. was inaugurated Sunday, June 27, completely tying up traffic in Pittsburgh, but was ended after having lasted only about 48 hours, pr&.ctically all of the men's demands being conceded. Ground was broken by August Belmont June 22 for the construction of the Cape Cod Canal, which is to extend from Sandwich in Barnstable Bay, Mass., across Cape Cod to Buzzard's Bay. The Alaska-Yukon-Pacific Exposition at Seattle was opened June 1. It closed at midnight the following Oct. 16. The Queensborough or Blackwell's Island bridge in this city, connecting Manhattan Borough with Queens ·Borough, was formally opened with elaborate ceremonies beginning Saturday, June 12, and extending through the following week. Railroad Ev,ents and Stock Exchange Matters,.:_ There was a sharp downward reaction during June. The first few days the previously prevailing buoyancy was carried to still greater heights under the leadership of the Steel shares and the Harriman stocks, which rose 4 to 8 points. Realizing then occurred on the unsatisfactory state of the copper trade and the hitch in the plan for listing the Steel share~ in Paris. On June 17 President Taft's message regarding the tax on corportion incomes appeared in the morning papers and precipitated a violent break in which the more prominent issues dropped 4 to 6 points. By the close of the month considerable recovery had again ensued. Reading com., opening at 155¾ June 1, sold up to 1581/g June 8, dropped to 147¼ June 22 and closed June 30 at 155¾; Un. Pac. com., opening at 189%, rose to 195x June 10, then dropped to 187 ½ June 21 and closed at 19'31/g; So. Pac. com. from 123¼ June 1 jumped to 135 June8 and,after touching 126¾ June21, closed at 1321/g. N. Y. Cent. was 130¼ June 1, 135 June 4, 1291/gx June 22 and closed at 132¾. Steel com. sold at 69 ½ June 14, fell to 64 June 22 and closed at 681/g. Amal Cop. was 85¾ June 1 881/s June 5, 77½ June 22 and 81¾ June 30. The So. Pac. Co. called for redemption on July 15 the $74,756,765 of its 7% pref. stock; practically all the stock elected to convert into common. Atch. Top. & Santa Fe gave shareholders the right to subscribe at 104 for new conv. 4% bonds to 12% of their p.oldings, calling for $28,258,000 debentures. Kan. City So. sold $10,000,000 of ref. & impt. bonds. Bankers offered for https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis sale $24,000,000 prior lien 4½s of the Nat. Rys. of Mexico here and abroad and the issue was over-subscribed. Morris & Co. (meat packing concern in Chicago) sold $12,500,000 1st 4½s. Mil. & St. P aul sold to banking interests $25,000,000 of a new issue of 4% debentures and sold $5,000,000 more the following November. Fla. East Coast Ry. disposed of $10,000,000 1st 4½s. Chic. Ind. & Louisv. increased its s.-a. div. on com. from 1½ to 1%%- St. L. Southw. made a first div. of 2% on pref. L. & N. raised its s.-a. div. again from 2½ to 3%. Rep. Iron & Steel resumed on pref. and.later also arranged to pay arrears. Crucible Steel of Amer., which had resumed the previous March, increased the quar. div. on pref. to 1 ¼ %- A plan for the reorganization of the Chic. Gt. West. under the auspices of J.P. Morgan & Co. was brought out; also a plan of re-adjustment for the Cin. Ham. & Dayt. under control of the B. & 0. In the contest for control of the U. S. Express Co. with the Platt management, Justice Guy in the N. Y. Supreme Court denied the application for the appointment of a receiver, and stated that although no stockholders' meeting had been held for 45 years, there was no evidence that the President or other officers had been derelict in their duty. The Money M arket.-Call loans on the Stock Exchange on one day in June got up to 2¾% and time loans were a trifle· firmer. Time loans June 30 were 2@2¼ for 60 days; 2¼@ 2½ for 90days; 2¾@3¼ for 4 to5mos.; 3¼@3½ for 6 mos., and 3 ½@4 for over the year. Money holdings of the Clearing-House banks, after decreasing from $375,536,800 May 2g to $372,226,100 June 5, rose to $390,995,600 June26 and were $385,499,400 July 3. Surplus reserves declined from $25,426,925 May 29 to $15,271,025 June 12, increased to $38,207,250 June 26 and then fell to $27,201,400 July 3. Deposits increased from $1,400,439,500 May 29 to $1,449,407,900 June 12, then fell to $1,411,153.,400June 26and recovered to $1,433,192,000 July 3. Loans followed a somewhat similar course, rising from $1,332,573,800 May 29 to $1,378,850,200 June 12, decreasing to $1,331,508,900 June 26 and standing at $1,357,556,000 July 3. Loans of the trust companies, &c., increased week by week and were $1,177,026,600 July 3, against $1,129,626,700 May 29. Money holdings of these institutions were $151,217,600 July 3, against $146,418,000 May 29. Foreign Exchange, Silver , &c.-Foreign exchange was generally strong in June. About the 8th some decline was noted. French finance bills were then being freely offered and exchange was created by the placing in London of some of the new National Rys. of Mexico bonds and also some of the new issue of N. Y. City bonds. The latter part of June there was a renewed rise. The Bank of England secured each week the whole of the South African. consignments of gold without competitive bidding by either Paris or Vienna bankers. Gold exports from this side were $5,233,050, comprising $1,250,000 to Argentina, $2,000,000 to Amsterdam and $1,863,000 to Paris, with a transfer of 2¼ millions gold to the Pacific Coast for shipment to Japan. Excnange was at its lowest June 8 at 4 8570@4 8580 for 60-day bills; 4 8765@4 8770 for sight, and 4 8795@4 88 for cable transfers. Sixty-day bills were at their highest June 30 at 4 8665@4 .8670; sight June 29 at 4 8810@4 8815, with a decline June 30 to 4 8805@ 4 8810; cable transfers June 29 at 4 8855@4 8860, with a decline June 30 to 4 8835@4 8840. Discounts in London at one time were 2%, but June 30 wern only 1 ½- At Paris the close was 11/s, against. 1 ½earlier, and at Berlin and Frankfort 2½@3, against 3½@3¼ earlier. Silver in London tended :ower again,,with the price June 30 23 15-16d. JULY .-Current Events .-The tariff bill was under consideration by the conference committees of the two Houses almost the whole of July, but an agreement was reached July 29. The Senate had on July 8 passed its bill as a substitute for the House bill, this substitute containing the Corporation Taxprovision. The Senate bill as a rule imposed much higher duties than the House bill. While the conferrees were deliberating, President Taft took ah active hand with a view to compelling downward revision as to certain articles and schedules. He also insisted on the retention of the Corporation Tax provision; the tax, however, was reduced from 2% per annum to 1 % . The conference report was adopted by the House on July 31 by 195 to 183 votes. In the Senate it passed the next month (Aug. 5) by 47 to 31 votes. The President immediately signed it and it went into effect the next day, Aug. 6. Aside from the corporation tax, its principal features are that hides, instead of carrying a duty of 15%, as under the Dingley law, are now free of duty. On rough lumber the duty is reduced from $2 per 1,000 feet to $1 25. Bituminous coal is reduced from 67c. a ton to 45c., anthracite remaining on the free list; iron ore from 40c. a ton to 15c.; pig iron from $4 a ton to $2 50; steel rails from 7-20c. a lb. to 7-40c. a lb.; structural steel worth up to 9-lOc. a lb. from 5-lOc. to 3-lOc. a lb., and worth over 9-lOc. a lb. from 5-lOc. to 4-lOc. Crude petroleum was left on the free list; at the same time Congress struck out the countervailing • duties on foreign oils imposed by the Dingley tariff, under which a duty was imposed on oil imported from any country which taxed American oil, the duty levied being the amount of the tax on American oil. The duty on printing paper (valued at not above 2¼c. a lb.) is reduced from $6 a ton to $3 75 a ton, but if the exporting country imposes any restrictions on the export of wood pulp, pulp wood or printing paper, a RETROSPECT. duty of $2 a ton is added to the $3 75, and in addition thereto the amount of such ·export charge. The new bill contains as a distinctive feature a maximum and minimum clause providing for the levying of increased duties on articles or commodities coming from foreign countries making undue and unfair discrimination against merchandise and products coming from the United States. Under this clause a further addition of 25% ad valorem would be made to the combined duties and charges on printing paper. As regards wood pulp mechanically ground, the duty of 1-12c. per lb., dry weight, is retained, but it is provided that such wood pulp shall be admitted free of duty from any country, dependency, province or other subdivision which does not forbid or restrict in any way the exportation or impose any export duty, license fee or export charge of any kind upon printing paper, mechanically ground wood pulp or wood for use in the manufacture of wood pulp. Nearly all the high duties on wool and manufactures of wool were retained, and in the agricultural schedule there were a number of advances, such as hops, from 12c. to 16c.; dates from ½c. a lb. to le.; grapes from 20c. a cubic foot to 25c., and lemons, from le. a lb . to 1 ½c. The administrative clauses and a customs court are also features of the new law. Senator Aldrich pointed out that the measure, furthermore, extends the provisions of the drawback clause to articles heretofore subject to internal taxes. He said that shipbuilders in this country will hereafter be allowed to build their ships from foreign materials imported free, and that this would enable our ship yards to enter into competition with the world in making battleships and other vessels. Finally, there are the Philippine provisions, providing that articles the growth or product or manufacture of the Philippine Islands (except rice) shall be admitted duty free, though limits are placed upon the importations of sugar, tobacco and cigars. Tea and coffee are both retained on the free list. The revival of activity in the iron and steel industry became still more noteworthy. Early in the month several of the independent steel companies raised the price of steel bars and of plates and shapes to 1.30c.and 1.40c. a lb.,respectively, this;heinganadvance of $1 a ton. The latter part, the American Steel & Wire Co., a subsidiary of the Steel Corporation, notified consumers of an advance of $2 a ton on wire products. The Steel Corporation's return for the June quarter showed net earnings of $29,340,491, against $22,921,268 in the March quarter and only $20,265, 756 in the June quarter of 1908. The unfilled orders on the company's books June 30 were 4,057,939 tons, against 3,542,595 tons March 31. The quarterly dividend on Steel common was raised from ½ of 1 % to ¾ of 1 % . Certain local labor troubles attracted some attention. The American Sheet & Tin Plate Co., a member of the Steel Corporation, had refused to enter into a new wage agreement with the Amalgamated Association of Iron, Steel & Tin Plate Workers, but decided to run all its plants on the "open shop" basis, beginning with July 1. In consequence the Amalgamated Association declared a strike and most of thefunion shops of the Sheet & Tin Plate Co. were temporarily closed. At the non-union plants of the company, however, work was prosecuted with increased vigor, and though the strike continued in subsequent months the Tin Plate Co. gradually got the upper hand. The Standard Steel Car Co. had a strike which led to riot and bloodshed at the company's works at Butler, Pa. This, however, was not of long duration. The most serious disturbance was experienced by the Pressed Steel Car Co. at its McKees Rocks plant, six miles below Pittsburgh. The trouble here had its origin in objections to the company's wage-system and method of employing and paying its men, and as a result of the strike frequent clashes occurred between the strikers and the State constabulary, often with fatal -results. In the dry-goods trade increased strength was observable. Print cloths at Fall River were marked up first from 3 7-16c. to 3 9-16c. and then to 3%c., in part owing to the advance in cotton. On reports of damage to the growing crop at a number of points, middling uplands in New York advanced from 12c. June 30 to 13.15c. July 13, with the close July 31 12.80c. Outside of cotton, the agricultural promise remained favorable, and the tendency of grain prices was downward, except that covering by belated shorts caused an advance in the July option for wheat at New York to $1.50 on the 31st. At Chicago the high point for this option was reached on the 15th, at $1.29, and the close July 31 was only $1.05 ½- In corn the Sept. option at Chicago, after an early decline, advanced from 63½c. July 8 to 68½c. July 24, with the close July 31 at 66c. Oats further declined on assurance of a very large crop; from 43 ½c . July 1 the Sept. option at Chicago dropped to 38c. July 31. Events and happenings abroad were unusually important. In Germany Prince von Buelow retired as Imperial Chancellor, according to previous announcement, and was succeeded by Dr. von Bethmann-Hollweg. In France the French Ministry under M. Clemenceau met with an unexpected downfall on a minor issue, and was succeeded by a new Ministry with M. Aristide Briand as Premier. The latter was supposed to have strong socialistic leanings. Lieut.-Col. Sir William Curzon Wyllie, together with Dr. Lalcaca (who came to his assistance), was assassinated on July 1 at a reception in London by an Indian student, from political motives. The murderer was hanged Aug. 17. In Persia an uprising on the part of the population demanding a real constitutional government occurred, and the forces of the so-called Constitutionalists or Nationalists advanced upon https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 25 T eheran and occupied the city. The Shah of Persia, Mohammed Ali, was thereupon deposed, and the 12-year-old Crown Prince, Sultan Ahmed Mirza, proclaimed Shah by the National Assembly, with Azad ul Mulk as Regent. Spain met with serious reverses in its campaign against the Moors. T he Spanish Government had dispatched armed forces to Melilla, Morocco, as a punitive i:neasure, but met with serious reverses. It became necessary to send large reinforcements from Spain, and this caused certain classes df the Spanish people to rebel, and to undertake to prevent the mobilization of reinforcements for the army. A revolutionary uprising occurred at Barcelona and other points, and finally, on July 28, martial law was proclaimed throughout Spain. The Government eventually succeeded in suppressing the uprising, but not until many insurgents had been killed or wounded; large numbers were also executed. Later the campaign in Morocco also took a more favorable turn. At one time, also, acute political tension developed between Argentina and Bolivia on account of differences regarding a rich tract of rubber territory separating Peru and Bolivia. The matter in dispute had been referred to the President of Argentina and he decided in favor of Peru; but Bolivia protested and diplomatic relations between the two countries became very strained. The extraordinarily large consignment of $8,000,000 gold from the United States to Argentina (following other considerable shipments) which then occurred was thought to have been due to this circumstance. A shipment of about $7,000,000 gold made at about the same time from London to South America, it appeared, was destined to Uruguay, and was in connection with the previous n egotiation of a large Uruguayan loan negotiated in Paris. Under the previous month's call, the national banks surrendered over $18,000,000 of Government deposits, though t he call required the return of only $9,000,000 by July 15 and the remaining $16,000,000 not until Aug. 15. GovernIr).ent deposits in the banks dropped from $74,698,615 to $54,022,746. Money holdings in Sub-Treasuries increased from $300,341,525 to $319,094,235. Bank circulation secured by bonds increased from $659,673,408 to $667,508,731. The St. L. & San Fran: RR., through Speyer & Co., placed $10,000,000 of its 5% gen. lien 15-20-year gold bonds in France. A considerable portion of the $37,500,000 4% conv. bonds of the Southern Pacific Co., to which the U. P. was entitled to subscribe, was also distributed abroad by Kuhn, Loeb & Co. The U.S. Gov't on the advice of Attorney-General Wickersham decided to make no contracts through the War & Navy Departments with the American Tobacco Co. or its allied companies, all of which were involved in the Gov't suit charging violation of the anti-trust laws. It was also announced that a similar policy would be pursued with ref erence to other so-called trusts against which suits had b een brought for alleged violations of Federal laws. The New York Stock Exchange decided to abolish its unlisted deparpment after April 1 1910. The Hudson & Manhattan RR. on July 19 opened to business its lower twin tubes under the Hudson River, extending from the Pennsylvania RR. station in Jersey City to the Hudson Terminal Bldg., on .Church St. in this city. In the U. S. Circuit Court Judges Pollock and Campbell held invalid the Oklahoma law of 1907 , intended to prevent the piping of oil and gas out of the State .• The Court held that natural gas is an article of inter-State commerce the same as corn, wheat, cotton, coal or any other commodity, and its sale and transportation in inter-State commerce is a matter to be regulated solely by Congress. In the Circuit Court at Charleston, W. Va., Judge Burdette granted an injunction restraining the enforcement of the Two-Cent Passenger Rate Law passed by the West Virginia. Legislature in 1907. The Bankers' Trust Co. of this city decided to increase its capital from $1,000,000 to $3,000,000, and declared a special cash dividend of $50 per share. The Erie RR. on July 1 restored the salaries of officers and employees which had previously been reduced. Over 11,000 buildings were burnt down in a fire at Osaka, Japan, which began July 31. Railroad Events and Stock Exchange Matters .-The Stock market developed renewed buoyancy during - July, on the growing activity in the steel and other trades, the advance in the dividend on Steel common and other favoring influences. U. P. common crossed 200, reaching 201 ¾ July 31, and Steel com. got up to 74½ July 31. Taking the opening and closing prices for the month, U. P. com. rose from 193¼ to 201; Ill. Cent. from 148¼ to 158¼; N. Y. Cent. from 133 to 141; Penn. from 136¼ to 139%; Reading com. from 156 to 161¾; Amal. Cop. from 81¾ to 84½, and Steel com. from 681/s to 74. Del. Lack. & West. declared a special cash div. of 50% and a stock dividend of 15%, and allowed shareholders to use half of the former in subscribing for the $6,800,000 stock of the Del. Lack. & West. Coal Co., organized to take over the business of the coal sales department of the railroad. Amer. Shipbuilding Co. resumed the payment of divs. on com. stock. Interb. Rap. Tran. sold to J.P. Morgan & Co. $10,000,000 of its 5% gold mtge. bonds. The Money Market.-Notwithstanding the large g9ld exports and the extra amount of Government deposits surrendered by the national banks, as noted above, money rates were not very materially affeoted the most of July. Money holdings of the Clearing-House banks fluctuated from week to week, and after increasing from $385,499,400 July 3 to $391,235,800 July 10, were $389,730,300 July 31. Surplus reserves, after rising from $27,201,400 July 3 to $34,029,800 July 10, declined to $31,321,825 July 31. Loans decreased 26 RETROSPECT. from $1,357;556,000 July 3 to $1,344,715,900 July 17, and then increased to $1,358,050,600. Deposits were $1,433,192,000 July 3, $1,421,275,100 July 17 and $1,433,633,900 July 31. The trust companies and outside banks showed only a slight decrease in money holdings between July 3 and July 31-from $151,217,600 to $150,969,600. Loans of these institutions rose from $1,177,026,600 to $1,200,361,200. The range for call loans during July was 1½@2%. Time loans at the close were 2¼ for 60 and 2½ for 90 days, 2¾@3 for 4 months, 3@3¼ for 5 months and 3%@3¾ for over the year. Commercial paper then was 3¾@4 for double names, 3½@3¾forprimeand4¼@4½forgoodsingle names. Foreign Exchange, Silver, &c.-Exchange was almost conti~uously weak in July and a sharp decline in rates occurred. The principal influences were the offerings of bills against the engagements of gold for shipment to South America ($13,335,000 going to Argentina), the placing abroad of considerable amounts of American securities, and some speculative selling of exchange. There were also liberal offerings of commodity drafts against grain and cotton futures. Furthermore, finance and other loan bills and drafts were freely in evidence as the likelihood developed of firmer money rates in this market in the near future. Rates at the close were at about the lowest figures of the month, namely 4 8535@4 8540 for 60-day bills; 4 8680@4 8685 for sight, and 4 8705@4 8710 for cable transfers-these figures being about l ¼c . per pound lower than at the beginning of the month. Discounts at the close were l ¾@ l ½ at London, 1 ¼ at Paris and 2¾ at Berlin and Frankfort. Silver in London fluctuated between 23¾d. and 23 ½d. and closed at 23 7-16d. AUGUST.-Current Events .-Mr. Harriman's health played an important part in affairs during August. Mr. H arriman had been taking the baths at the Bad Gastein in Austria for some time and the general supposition had be.e n t hat he was being greatly benefited. During his absence a t remendous speculation had been carried on in the properties with which he was identified and all sorts of rumors were circulated with reference to his plans and intentions, such as t hat there would be a segregation of Un . Pac. assets, a distribution of extra dividends, etc., etc. There were also reports that Un. Pac. was increasing its holdings of N. Y. C. stock and seeking control. About the middle of the month news leaked out that he had suddenly determined to come home. On Aug. 18 he embarked at Cherbourg for New York. Before sailing it was announced that the treatment in Germany had been a success, but that instead of taking the "after cure" abroad he would take it in his new mountain home at Arden, N. Y. Mr. Harriman landed here soon after noon on Aug . 24 and while extremely weak talked freely to an army of newspaper men on his way to his just-completed country home, Tower Hill, at Arden. One of his first statements was that he was not thinking about a segregation of assets, or extra dividends, or speculation. His remarks were not encouraging to those engaged in the speculation for higher prices and the market by that time, already weak, experienced a sharp tumble. Very confident reports also appeared saying Mr. Harriman was in a very precarious state. Accordingly the • Stock Exchange got into a frenzy of excitement, and tr~ mendous liquidation took place, with large and general declines in prices, the Harriman properties-particularly Un. P ac. and So. Pac.-being chief features in the decline. The collapse continued until Monday, Aug. 30, when Mr. Harriman issued a very reassuring statement concerning his condition. This relieved the tension, at least for the time being, thus ending one of the most striking episodes in Stock Exchange history. Tariff legislation was concluded Aug. 5, as noted in our remarks for July, and with this out of the way, business revival made further progress. There was some impairment of crop prospects, owing to excessively high temperatures over considerable sections of the West and Southwest, making a record-breaking corn crop out of the question, but still leaving a prospect of a large crop. In spring-wheat. there was also some deterioration. The tendency of wheat prices, nevertheless , was sharply downward, particularly in the case of cash wheat. In Minneapolis r eceipts were so heavy that on Monday, Aug. 23, cash wheat broke 20 @25 cts. a bushel, one of the most sensational declines on record. New crop No. 1 Northern dropped to $1.10 against $1.35 the previous Saturday and $1.45 the previous Monday. At Chicago Sept. wheat closed at 98¾ cts. Aug. 31 against Sl.04% July 31; Sept. corn at Chicago closed at 64½ cts. against 66 cts. and Sept. oats at 36½ cts. against 38¾ cts. For cotton the Dept. of Agriculture on Sept. 2 made the condition Aug. 25 only 63.7 against 71.9 a month earlier and 76.1 on Aug. 25 the previous year. Middling upland at New York from 12.80 cts. July 31 got up to 13.10 Aug. 2, but after that manifested considerable irregularity. The low point was 12.40 Aug. 9 and the close Aug. 31 was 12.80. While the metal trades generally showed an improving tendency, copper continued an exception to the rule. The statement of the Copper Producers' Association for July showed another large decrease in the domestic stocks of copper, bringing the aggregate of these stocks down to about where they had been at the beginning of the year and this gave strength to the metal the first half of the month, notwithstanding that it appeared there had been further important additions to stocks abroad. Later, however, prices developed weakness , with the close for Lake copper about 13½@13¼ cts. and fo https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I electrolytic12½@13cts. IntheU.S.CircuitCourtatChicago Judges Grosscup, Baker and Kohlsaat made permanent the temporary injunction granted Nov. 6 1908 against the InterState Commerce Commission in what is known as the Missouri River Rate case. The Commission had sought to compel a lower j0int through rate from the Atlantic seaboard to Missouririverpoints than the sum of the separate rates from the seaboard to the Mississippi River and thence to the Missouri River. TheCommissionhad also directed that the reduction should fall entirely on the lines running between the Mississippi and Missouri rivers. On first-class freight the•through rate in force from the Atlantic seaboard to the Mississippi River was 87 cts. while the rate thence from the Mississippi River to the Missouri River was 60 cts., making a total of $1.47 per 100 lbs. The Commission ordered a reduction to $1.38. The order was like several others which the Commission had sought to enforce in different parts of thecountry , and if upheld would have revolutionized the principle of rate-making. The matter was really a c@mpetition between markets, and Judge Grosscup in expressing the opinion of the majority of the Court (Judge Baker filed a dissenting opinion) said that it could not be assumed that the Commerce Commission ha d the power by the use of differentials artificially to divide the country into trade zones tributary to given tradeand manufacturing centres, "for such power, vaster than any one body of men has heretofore exercised, though wisely exerted in specific instances, would be putting into the hands of the Commission the general power of life and death over every trade and manufacturing centre in the United States." National bank circulation afloat on bonds further increased from $667,508,731 to $672,263,695. Government deposits in the banks decreased from $54,022,746 to $51,651,531. Government cash money holdings fell from $319,094,235 to $315 ,893,508 . The differences between Turkey and Greece which had developed r egarding the island of Crete were adjusted but only after renewed intervention on the part of the Powers, who forcibly removed the Grecian flag which had been raised over the Canean fort after the withdrawal of the international fleet in July. A new Cuban loan for $16 ,500,000, consisting of 40-year 4½% bonds issuable in installments of $5,500,000 per year was taken by European and American bankers. The first $5,500,000 was offered to the public in Sept . by Speyer & Co. of this city and Speyer Bros. m London and many times over-subscribed. Costa Rica also began neg0tiations with a leading American financial house regarding the financing of its debt , as did Honduras. An industrial strike in Stockholm, accompanied by socialistic demonstrations, proved very disturbing in Sweden, a considerable part of the laboring population being thrown out of employment for the time being. At a referendum election in Cleveland the Schmidt ordinance providing for a 14-year trolley franchise on certain streets of the city on the basis of 3-cent fares, and favored by Mayor Tom L. J ohnson, was defeated by a vote of 31,022 to 34,785 . The Cunard Line began using F ishguard, on the Welsh coast, as a port of call, shortening by several hours the time to London, Paris, etc. Gov. Hughes removed Louis F . Haffen, Prest. of the Borough of the Bronx, on charges of misconduot in office made by the Commissioners of Accounts in Nov. 1908. In the case against Gustav E. Kissel and Thomas B. Harned, who had been indicted along with the American Sugar Refining Co. for criminal conspiracy in connection with the closing of the Penn. Sugar Refining Co.'s independent plant in 1903, Judge Holt in the U. S. Circuit Court held that prosecution was barred by the statute of limitations. An earthquake, accompanied by a tidal wave, at the close of the previous month (July 30) worked great havoc at Acapulco, on the west coast of Mexico, and surrounding territory. At the close of August (Aug. 28) an extraordinary rainfall and tremendous floods overwhelmed Monterey and northeastern Mexico, resulting in the loss of 1,500 to 2,000 lives by drowning, the submerging of numerous towns and damage to property estimated at $20,000,000 to $30,000,000. Railroad Events and Stock Exchange Matters .-The course of stocks during August is in a measure outlined in what has been said above. The month will always be noteworthy for the tremendous liquidation and the sharp and precipitate d ecline in prices which occurred. The first 10 or 12 days the market was still strong and active and many new high records for the year were established. Then came the alarm about Mr. Harriman. What followed has already been indicated. In the latter half of themonth the fluctuations were wild and erratic, with Un. Pac. the dominant feature and the tendency strongly downward. The downward course was arrested on Monday, Aug. 30. The previous Friday and Saturday there had been more or less definite reports of the likelihood of an operation on Mr. Harriman, causing a very unsettled and a very depressed feeling. Over Sunday these reports met with strong denial and as a consequence opening prices Monday morning, Aug. 30, were several points higher than the closing prices Saturday, Aug. 28. Later on Monday came Mr. Harriman's own denial, and as a consequence a recovery in prices took place all through the list. Un. Pac. com., strangely enough, closed Aug . 31 at the figure at which it had opened Monday, Aug. 2, namely 201; but in the meantime it had been up to 219 Aug. 16 and down to 194½ jAug. 28. So. Pac. com. opened at 134 ¾, advanced to 139½fAug. 16, dropped to 125 Aug. 28 and closed at 128½ Aug. 31. Reading com. opened at 162½, rose to 166 Aug. 12, declined to 155½ Aug. 28 and closed at 159½. N. Y. Cent. from 141¾ RETROSPECT. at the opening got up to 147 Aug. 17, dropped t o 125 ¼ Aug. 28 and closed at 138½. Mil. & St. P. com. opened at 158%, reached 163½ Aug. 10, declined to 154¼ Aug. 28 and closed at 156¾. Penn. was 140 Aug. 2, 143½ Aug . 12, 137 ½ Aug. 26 and closed at 140¼. The Steel shares, while following the course of the general market, continued to manifest much strength. Steel com. was 74¼ Aug. 2, 78½ Aug. 12, 73¼ Aug. 20 and closed at 77¼. Amal. Cop. from 84½ at the opening, rose to 89 ¼ Aug. 12, dropped to 82 ½ Aug. 26 and closed at 83 % . The New Orleans Stock Exchange decided, beginning with Sept., to adopt the N. Y. Stock Exchange new method of quoting bonds, that is, prices are to be "and interest." The Public Service Commission for the Second District refused to give its approval to the plan advocated by the N. Y. N. H. & H. for making a new $20,000,000 mortgage on the Cent. New England Ry. Blair & Co., as managers of the bond syndicate of the Den v. & Rio Gr. RR. sold to the Deutsche Bank of Berlin $5,000,000 of that road's 1st and ref. 5% bds., to be offered to investors in Germany. Cal. & Hecla increased its quar. div. from $6 per share (24%) to $8 (32%). The Money Market.-The money market became firmer. On call th·e high figure was 2½% against the July maximum of 2% and time loans and commercial paper were a lso fractionally higher, the quotations Aug. 31 being2¾@3%for 60 days; 3¼@3½ for 90 days; 3½@3¾ for four months and 3 ½@4 for five to six months, with paper quoted at 4 for choice double names and 4½ for prime single names. There was some increase in the demand for funds from the interior and the Canadian banks withdrew some of their credit balances from this centre. This and the shipments of gold to Argentina and the transfers to San Francisco for shipment to Japan reduced the money holdings of the Clearing House banks from $389,730,300 July 31 to $368,442,500 Aug. 28; surplus reserves fell from $31,321,825 to $17,952,775. The trust companies and outside. banks reported money holdings of $155,983,300 Aug. 28 against $150,969,600 July 31. Deposits of the Clearing House banks dropped from $1,433,633,900 July 31 to $1,401,958,900 Aug. 28. Loans fluctuated from week to week and were $1,352,050,000 August 28 against $1,358,050,600 July 31. The loans of the trust companies increased from $1,200,361,200 July 31 to $1,226,840,300 Aug. 28. Foreign Exchange, Silver, Etc.-After a fractional advance at the beginning, foreign exchange was weak, with a declining tendency the first half of the month. Offerings were made almost daily of bills against" securities which had been negotiated abroad and there were also drafts against future deliveries of grain. Furthermore, there was selling of sterling and franc cable transfers against a large block of bonds that had been placed in London and Paris. Firmer rates in the local money market also encouraged the drawing of finance and other loan bills. About the middle of the month, however, exchange developed a rising tendency, due to an inquiry for bills to cover outstanding short contracts and also for sight bills to effect extensions of maturing loan drafts and finance bills. Selling of American securities by London occasioned by the great decline in prices on the Stock Exchange likewise served to create a demand for exchange. The last few days exchange was again downward and the close Aug. 31 was at about the lowest figures. On Aug. 14 at the culmination of the first downward turn rates were 4 85@4 8510 for 60 day bills; 4 8645@4 8650 for sight and 4 8675@4 8680 for cable transfers; by Aug. 25 there had been a rise to 4 8540@4 8550, 4 8690@4 8695 and 4 8715@ 4 8725 for the three classes of bills. The decline at the close carried prices back to precisely the figures quoted Aug. 14. Shipments of gold to Argentina reached about $2,250,000 and the transfers to San Francisco $3,000,000. Open market discounts were 1½% Aug. 31 at London, l¼@ 11/s at Paris and 21/s at Berlin and Frankfort. Silver at London advanced to 24d. Aug. 31. SEPTEMBER.-Current Events.-Mr. Harriman's illness eventuated in death. After the hopeful statement given out by him at the close of August he suffered a relapse on Sunday, Sept. 5. With the knowledge of his precarious state, the Stock Exchange opened on Tuesday, Sept. 7 (after the Labor holiday Monday and also a holiday the preceding Saturday) in great depression, with the Harriman properties showing declines of several points from the close the previous Friday. The collapse continued, with large and general breaks in values, up to the close of business Thursday (Sept. 9), on which day Mr. Harriman died. The worst having happened, a sharp and extensive rally ensued the next day, and no ill effects followed the death of Mr. Harriman. On the Stock Exchange considerable buoyancy developed the latter part of the month. It became evident that powerful banking interests would direct the destinies of the former Harriman properties. Mr. Jacob H. Schiff, of Kuhn, Loeb & Co. (the members of which firm had retired from the directories of their several railroad properties in 1906 after the Hughes insurance investigation) entered the board of directors of both the Union Pacific and the Southern Pacific along with William Rockefeller , filling vacancies created by the death of Henry H. Rogers and E. H. Harriman. Ex-Judge R. S. Lovett, VicePres. and Gen. Counsel, who had been Mr. Harriman's righthand man, was elected Chairman of the Executive Committee in1both companies to succeed Mr. Harriman. A large share https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 27 of public attention during the month was absorbed by events having no bearing upon business or financial affairs, namely news regarding the discovery of the North Pole and (in this city and surrounding territory) the Hudson-Fulton celebra~ tions, which latter were on a very elaborate scale. On Sept. 1 the sensational announcement came that Dr. Frederick A. Cook of Brooklyn, an Arctic explorer, was on his way to Denmark, and reported having reached the Pole on April 21 of the previous year. On lap.ding at Copenhagen on Saturday, Sept. 4, he was received with great enthusiasm by the Danish people. While he was still being feted, there came a second sensational piece of news on Sept. 6 in a cablegram from Indian Harbor, Labrador (via Cape Ray, Newfoundland), from Robert E. Peary of the U. S. Navy. reporting that the latter (who had made eight previous trials in twentythree years) had reached the Pole on April 6 of the current year. There was no disposition to question the truthfulness of Mr. Peary's statement, but there was hesitancy about accepting the unsupported claim of Dr. Cook. In December, after Cook had submitted his records, a committee of the University of Copenhagen reported that his proofs were insufficient to establish his claim. The Hudson-Fulton celebrations began on Saturday, Sept. 25, and in this city extended through the whole of the following week to and including Saturday, Oct. 2. The distinctive features in the celebrations were the large assemblage of warships, foreign and American, the parades, naval, military and civic; also public and private illuminations, chiefly by electricity, on a scale probably never before attempted in the world's history. The celebrations commemorated Hendrick Hudson's discovery of the Hudson River in the Half Moon in 1609 and Robert Fulton's exploit in having in 1807 with his steamboat Clermont demonstrated the practicability of applying steam to water navigation. Trade act ivity made further progress and in iron and steel higher prices and an urgent demand led to the placing of orders abroad for the importation of raw material. The U. S. Steel Corporation made a further advance of $1 a ton, bringing steel. bars at Pittsburgh up to 1.40c. per lb. and plates and shapes to 1.45c.; this still left its prices below those of the independent companies. The shares of the United States Steel Corporation made new high records every week. The strike at the McKees Rocks plant of the Pressed Steel Car Company was finally termina ted. The company made certain concessions to the men, and on Sept. 7, after a contest of eight weeks, in which eight lives are said to have been lost and many persons injured, the strike was called off. The course of grain prices was again upward. Possibly the speech of J ames J. Hill before the American Bankers' Association, saying that grain production in the U. S. was not increasing in proportion to population, and that ultimately we would have to import wheat, may have had some effect. In Chicago a short interest in the Sept. option for wheat caused a jump in that option in the closing hour of Sept. 30 from $1.06 to $1.20. The same day Sept. oats at Chicago jumped from 44½ cts. to 50 cts. Dec. wheat in Chicago advanced from 93 ½ cts. Sept. 2 to $1.01 ¼ Sept. 29, with the close Sept. 30 99¾ cts.; Dec. corn at Chicago rose from 561/s cts. Sept. 1 to 61 ¼ cts. Sept. 17, with the close 57½ cts., and Dec. oats at Chicago rose from 37 cts. Sept. 1 to 40% cts. Sept. 16, with the close 38½ cts. In cotton renewed reports of a crop shortage and rumors that James A. Patten of Chicago was active in the market were used to fan speculation. Furthermore, news came that a tropical storm had swept up through the Mississippi Valley and was doing damage in Mississippi and Louisiana and parts of Arkansas as well as in Tennessee and Alabama. Louisiana suffered from a tidal wave and for two days all quotations from that point were shut off completely. Thereupon operators became panic-stricken and between Sept. 17 and Sept. 24 middling uplands in N. Y. rose from 12.70 to 13.75 cts. The close Sept. 30 was at 13.30 cts., against 12.80 cts. Aug. 31. Print cloths at Fall River were advanced from 3 % cts. to 3¾ cts. A strike of the weavers at the Fall River Iron Works mills occurred but was of short duration, the operatives accepting the offer of the Borden management of an advance of 5% in wages. Pres. Taft delivered a number of speeches while engaged in an extended tour of the U.S., in which he outlined his policies. These speeches exercised a disquieting effect on the Stock Exchange. In an address before the Boston Chamber of Commerce on Sept. 14 he showed that he was impressed with the need of currency and banking reform, but he also said that "the hum of prosperity and the ecstasy of great profits are likely to dull our interest in these reforms (referring to Mr. Roosevelt's claim of the need of reform in business methods), and lead us back again to the old abuses unless we insist upon legislation which shall clinch and enforce those standards by positive law." At Des Moines, Ia., he argued in favor of amending the Inter-State Commerce law and the Sherman Anti-Trust law, and at Denver, Col., he discussed the Corporation-Tax law and urged the proposed amendment to the Federal Constitution, giving Congress authority to levy a general income tax. All these speeches outlined very radical policies-the same policies, indeed, which Mr. Roosevelt had advocated so strenuously. He argued in favor of the distribution of large fortunes, insisted that the right of Courts to issue writs of injuncton should be limited and qualified, and advocated extensive new legislation giving the Federal Government increased powers . He said he was opposed to a general individual tax on incomes except in times of great national stress, but the Federal income tax 28 RETROSPECT. amendment would enable Congress to levy a tax on the bondholders as well as the stockholders in corporations, and would also enable the Government to perfect the Corporation Tax "so as to make it an instrument of supervision of corporate wealth by Federal authority." He insisted that inter-State railroads must be prevented from continuing to hold stock in competing railroads-a requirement that would oblige the N. Y. Central to dispose of its West Shore line and the Lake Shore of its Nickel Plate line.. He proposed, furthermore, that hereafter no railroad company engaged in inter-State commerce should create any additional debt except with the approval of the Commission and at "a price not less than par for stock nor less than the reasonable market value for bonds" Bank circulation secured by bonds increased from $672,263,696 to $676,031,393. Government deposits in banks were diminished from $51,651,531 to $50,604,523, and Government money holdings decreased from $315,893,508 to $309,331,807. The right of the Stock Exchange to enforce its resolution forbidding business intercourse with members of the Consolidated Exchange was upheld in a decision of the N. Y. Supreme Court on Sept. 4. In a decision rendered by Justice Van Kirk in the N. Y. Supreme Court in a suit against the Trust Co. of the Republic by one of the stockholders, 13 of the former directors of the company were held responsible for losses sustained through transactions by Pres. Daniel Leroy Dresser in 1902 in connection with the defunct U. S. Shipbuilding Co. John W. Castles, President of the Union Trust Co. of this city (in which, however, he had never become active) and former President of the Guaranty Trust Co., committed suicide. The Spaniards gained some important successes in their campaign in Morocco towards the close of the month, and it was supposed that this marked the end of the campaign; but this proved erroneous, as on the last day ·they sustained renewed reverses. One of the Oklahoma banks-the Columbia Bank & Trust Co. of Oklahoma Citywas taken in charge by the State Banking Commissioner and the State Guaranty Fund drawn on to pay its depositors. An assessment was levied on the other State banks. The Great Northern Ry. on Sept. 27 put in service a new mail and express train, reducing the minimum time in transit between St . P aul and Seattle by 11 hours-from 59 to 48 hours. · Railroad Events and Stock Exchange M atters.-On the whole there was considerable improvement in values during September with many new high records for the year in leading stocks, but the course of prices was marked by wide fluctuations, with great demoralization immediately preceding the death of Mr. Harriman. At the beginning of the month the market was strong, but on Sunday, Sept. 5, Mr. Harriman's condition changed for the worse, and when the Stock Exchange opened Tuesday, Sept. 7, after the holiday, his condition was very grave. The Harriman stocks opened several points lower than the close the previous Friday. The break continued until the close of business on Thursday, Sept. 9, when Mr. Harriman died. The next day a sharp upward movement ensued, carrying prices up 3 to 13 points. The improvement, except for a downward reaction on Monday, Sept. 13, continued through the next week. The following week (ending Sept. 25) the market was unfavorably affected by the speeches of President Taft, but even then a few stocks continued .their upward course. The closing week the market once more resumed its rising tendency, and transactions were on a large scale, though some shares did not get back to their best figures. Steel com. touched 90 ½ Sept. 29 and closed Sept. 30 at 891/s, this b eing a rise from 75¾ ex-div. Sept. 9. U. P. com. from 200 ¾ Sept. 1 declined to 193 ¾ Sept. 9, then advanced to 210 ½ Sept. 11 and closed Sept. 30 at 2091/g. Sou. Pac. com. opened at 128½, touched 122½ Sept. 9 and by Sept. 30 got up to 135¼. Reading com. was 159 ½ Sept. 1, 1561/s Sept. 9, 173 % Sept. 21 and 168 Sept. 30. Penn. after declining from 1401/s Sept. 1 to 138 % Sept. 9, got up to 151¾ Sept. 29 and closed at 150. Amal. Cop. was 84 Sept. l, 77 Sept.13, 85 Sept. 21 and closed at 82½ Sept.30. West. Un. Tel. disposed of its holdings of N. Y. Telephone stock to the American Tel. & Tel. Co., netting, it is understood, close to $25,000,000. The Appellate Division of the Supreme Court, 3d Dept., unanimously reversed the Public Service Commission for the 2d Dist., which had refused permission to the Del. & Hud. Co to issue bonds te refund notes made in connection with the purchase of the Hud. Val. (Electric) Ry., and the purchase of coal properties in Pennsylvania. This reversal was sustained by the Court of Appeals in December. The N. Y. Telephone Co .'s shareholders voted to increase capital from $50,000,000 to $100,000,000, to take over the other Bell subsidiaries in this State, including the N. Y. & N. J. Tel. Co. Quite a number of increases in dividends were announced, mostly by smaller companies. The Money Market.-The tendency towards higher money rates became strongly accentuated during September. On call on Sept. 30 there was a rise to 4%, and time loan rates also advanced for all periods. Money holdings of the Clear:ing-House banks fell from $368,442,500 Aug. 28 to $329,332,700 Oct. 2. Surplus reserves Oct. 2 were onlv $1,627,525 against $17,952,775 Aug. 28. Money holdings of the outside institutions were diminished relatively little, being $154,023,400 Oct. 2, against $155,983,300 Aug. 28. Deposits of Clearing-House banks were reduced from $1,401,958,900 Aug. 28 to $1,310,820,700 Oct. 2, and loans from $1,352,050,000 to $1,304,962,900. Loans of the trust companies, &c., after being reduced from $1,226,840,300 Aug. 28 to $1,219,876 ,500 Sept. 11, increased to $1,238,473,200 Oct. 2. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Time loans at the close were 3¼@3¾ for 60 days, 3¾@3½ for 90 days, 4@4¾ from 4 to 6 mos. and 4¾ for 7 mos. Commercial paper then was 4@4 ½ for double names and 4¾@5 for the best single names. Foreign Exchange, Silver, &c.-After a fractional advance at the opening, foreign exchange showed a declining tendency most of Sept. Firmer money rates here were perhaps the most important influence in the downward movement. The Bank of Germany on Monday Sept. 20 raised its rate from 3½ to 4%; this, and a general rise in open market discounts at London, Paris and Berlin, stiffened exchange for a time, due to the covering of maturing loan and finance bills. which bankers were indisposed to renew because of the higherdiscounts. Dearer money here, however, proved much the more potent influence, and later, exchange displayed a renewed sagging tendency,which continued to the close. There were no gold exports to Europe, but about $3,500,000 was. transferred by the Sub-Treasury to San Francisco for shipment to Japan, and the last week $1,400,000 gold was sent toCanada. In London, Russia secured practically all t he offerings of South African gold. Sterling rates were at theirhighest Sept. 2, when 60-day bills were quoted 4 8515@ 4 8520, sight bills 4 8655@4 8665 and cable transfers 4 8680, @4 8690. The lowest figures were Sept. 29, namely, 4 8410· @4 8420, 4.8595@4 86 and 4 8615@4 8620, with only a fractional recovery the next day. Discounts at the close were· 1½@2¾ at London, 2¾ at Paris and 3½ at Berlin and Frankfort. The bullion holdings of the Bank of England were heavily reduced the last two weeks on large shipments to Egypt and other countries, and also a demand from the interior of Great Gritain. Silver in London fluctuated within a narrow range and was 23¾d. Sept. 30. OCTOBER.-Current Events.-A rather unexpected rise to high figures in discount rates of European banks arrested world-wide attention. It was the more noteworthy inasmuch as it did not come at a time of general trade activity in Europe nor of large and general speculation. Trade revival was making considerable headway in Germany and the speculative spirit was also in evidence there, but elsewhere in Eur.ope conditions appeared to be normal. The higher money rates were due to the effort of the European banks toprotect their gold reserves in view of the active demand for gold, more particularly for countries like E gypt and South America. The Bank of England raised its minimum on three successive Thursdays-on the 7th it increased from 2 ½ to 3%, the following Monday (the 11th) the Bank of Germany, which in September had advanced from 3 ½ to 4%, moved up to 5 %; on the 14th the English Bank advanced from 3 to 4% and the following Thursday (the 21st) to 5%. The Ban k suffered contraction of its bullion holdings in each successive week beginning with Sept . 16 up to and including Oct. 28. For the six weeks to Oct. 28 the shrinkage reached £7 ,938,495, or, roughly, $39,000,000. In some quarters a disposition existed to assume that in its successive advances the Bank was aiming at American borrowing abroad and was seeking to check speculation on the N. Y. Stock Exchange, which it was asserted was being carried on through such borrowing. Careful inquiry, however, among banking houses and foreign exchange dealers here and in Europe failed to show any warrant for the stories of excessive and abnormal borrowing· on American account; and the large loss in bullion by the Bank, just noted-no part of the gold taken going to the U. S.-shows conclusively that the action was in defense of its stock of gold. While the Bank continued to lose gold even after its minimum had been raised to ,5%, the situation was nevertheless considered to have considerably improved. Previously other countries had obtained the South African offerings of gold in London, but both on the 18th and the 25th the Bank succeeded in getting these offerings itself. The high rate also served to divert a portion of the demand for gold to other centres . The last half of the month the Brazilian demand for gold was in part diverted to N. Y. Brazil took supplies of the metal at nearly all the chief centres -London, Paris, N . Y. Her coffee planters were for the time being eagerly competing with one another in selling coffee so as to take advantage of the valorization plan under which a certain amount of coffee could be sold without b earing a heavy tax. This made everybody anxious to sell within the limit. The boom in rubber accentuated the favorable conditions for Brazil, giving that country a large favorable trade balance. Some persons were inclined to think the Bank of England's action was not altogether uninfluenced by the home political situation. The Budget, which was viewed with so much uneasiness by the financial world in London, remained undisposed of, and it seemed certain that the House of Lords would reject the measure, bringing on a constitutional crisis. Continued speculation in cotton carried prices up to the highest figures since the time of the Sully corner in Feb. 1904. Oct. 30, middling upland sold in N. Y. at 15.05 cts., against 13.30 cts. on Sept. 30. Even the May option sold above 15 cts. James A. Patten, of wheat fame, appeared to be prominent in the movement. The Department of Agriculture Oct. 4 made the condition of the crop only 58.5, a deterioration of 5.2 points during the month,and later there were allegations of killing frosts in various sections of the South. The high price led to very extensive curtailment of production by cotton mills in this country (in New England as well as in the South) and also abroad. Print cloths at Fall River ruled at 3¾ cts. until Oct. 16, when there was an. RETROSPECT. advance to 4 cts. In other classes of cotton goods advances were also made, though not to the extent of the rise in the raw material. In the iron and steel industry unexampled activity developed. The "Iron Age" reported 2,385,206 tons of pig iron made in Sept. and 2,592,516 tons in Oct., this comparing with the previous maximum of 2 ,336,972 tons in Oct. 1907. The U.S. Steel Corporation for the Sept. quarter showed net earnings of $38,246,907, against $29,340,491 for the June quarter and $22,921,268 for the March quarter. The quarterly dividend on Steel corn. was again raised, this time to 1 %- The fortnightly statements of the American Ry. Assn. showed that on Oct. 27 the surplus of idle cars had been entirely extinguished. The copper trade, however, continued to lag under increasing stocks at home and abroad. Government money holdings were reduced frorn $309,331,807 to $308,794,235 and Government deposits in banks frorn $50,604,523 to $49,497,654. National bank circulation secured by bonds increased from $676,031 ,393 to $678,344,963. Prof. Francisco Ferrer, the former director of the "Modern School" at Barcelona, was sentenced to death for complicity in the Barcelona uprising the previous July, and notwithstanding violent protests on the part of workingmen in Spain, Italy and other countries, was executed Oct. 13. Riotous demonstrations thereupon developed at many of the European centres-notably Paris, Rorne , Vienna , Trieste, and many other points in Italy and France. Criticism resulting frorn this action and dissatisfaction felt with Gen. Marina's conduct of the war in Morocco led the next week (Oct. 21) to the resignation of the Spanish Ministry headed by Senor Maura. A new Cabinet was constitued with Moret y Prendergast as Premier. Prince Hirobumi Ito, President of the Privy Council of J a pan and former Japanese Resident General and Chief Ruler of Corea, was assassinated by a Corean Oct. 26 in the railway station at Harbin while he was advancing to meet M. Kokosoff, the Russian Finance Minister, who had come from St. Petersburg to discuss with him questions affecting the future of Manchuria. Justice Rufus W. Peckham of the U.S. Supreme Court died Oct. 24. Judge A. B. Anderson of the U. S. Court at Indianapolis on Oct. 12 dismissed the proceedings in the Panama Canal libel suit brought in the closing days of the Roosevelt Administration against Delavan Smith and Charles R. Williams, proprietors of the "Indianapolis News." The defendants had resisted removal to the District of Columbia for trial under a Grand Jury indictment charging them with having committed a criminal libel in publishing artides alleging a corrupt profit of $28,000,000 in the sale of the P anama Canal to the U. S. The indictment charged the commission of a crime in the District of Columbia, but inasmuch as the Federal Constitution provides that an accused person shall be tried in the State or District where the offence is committed, Judge Anderson held that the proprietors of the " Indianapolis ews" were answerable only in Indiana. In the Federal Court at Lincoln, Neb ., District Judge Thomas C. Munger and Circuit Judge Willis Van Devanter declared unconstitutional the Nebraska law providing for the guaranty of bank deposits and made permanent the temporary injunction granted the previous June restraining the State Banking Board from putting the law into operation. The N. Y. Court of Appeals decided the case involving the question as to the proper method of computing the margin of debt of N. Y. City under the constitutional debt limit of 10 % . Under the decision the city's borrowing capacity July 1 1908 was found to have been in the neighborhood of $50, 000,000 and at the tirne of the decision was estimated to be about $90,000,000. The City Board of Estimate and Apportionment accordingly approved the contract let in May 1908 by the Public Service Commission for constructing the first six sections of the 4th Ave. Subway, to extend from the Brooklyn terminal of the Manhattan Bridge to 43d St., South Brooklyn. The Court of Appeals also rendered a decision in a case involving the question of the method of determining the valuation of special franchises in N. Y. for purposes of assessment under the law of 1899-see article in "State & City Section" for Nov. 27 1909. The Supreme Court of Illinois dismissed the action brought by Illinois to prevent the completion of the dam on the Des Plaines River and to oust the Economy Light & Power Co. therefrom. The State desired to utilize the land leased by the company in connection with its proposed deep waterway or canal (the Ill. & Mich. Canal) to connect the Sanitary Drainage Dist. of Chicago with the Illnois River at or near Utica in La Salle Co. The U.S. Circuit Court of Appeals sustained the 15-year sentence imposed the previous year upon Chas. W. Morse of the failed Nat. Bank of North America of this city. At Chicago the U. S. Circuit Court of Appeals sustained the conviction of John R. Walsh, formerly President of the failed Chicago Nat. Bank. In Brooklyn the Appellate Division of the Supreme Court affirmed the conviction of Edward E. Britton and Frederick H. Schroeder, formerly Pres. and 2d Vice-Pres. of the Eagle Loan & Savings Assn. Edwin Hawley and B. F. Yoakum, in connection with Speyer & Co. , acquired a predominating interest in the Mo. Kan. & Tex. Ry. A local event was the reduction in the price of the "New York Tribune" frorn 3 cts. to 1 cent. San Francisco fro'll Oct. 19 to Oct. 23 had a Portola Festival to comrnernorate the discovery of San Francisco Bay by Don Gaspar de Portela. In the District Court of Travis. Co. at Austin, Tex., juc 1gments aggregating $201,650 were awarded against several btandard Oil subsidiary companies and their charters in Texas forfeited. John Stewart Kennedy, formerly a prominenb financier, and a man of° https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 29 notable public spirit, died Oct. 31; about half his fortun e of some $60,000,000 was py his will donated to religious, educational, benevolent and charitable purposes. A West India hurricane struck the southern coast of Florida Oct. 11, doing great damage, particularly at Key West, where martial law was declared. The next month (Nov. 3) a hurricane passed over Jamaica, followed by several days' torrential rains (48 inches, it is said, falling in four days), causing much loss, and breaking off cable and telegraphic communication with the islands for a week or more. Charles R. Crane, newly appointed Minister to China from the United States, was recalled while on the point of sailing frorn San Francisco, for alleged indiscreet statements to ·the press regarding the probable policy of the United St ates concerning the agreements entered into between Japan and China in relation to Manchuria. Railroad Events and Stock Exchange Matters .-The tendency of prices most of October was towards a lower level, but with a sharp recovery towards the close. At the beginning there was a break on dearer money. As the month progressed, the rise in money abroad, with the advance of the Bank of England minimum to 5% and the resulting liquidation of American securities on foreign account, exercised quite a potent influence in driving prices down. The latter part of the month, when it became clear that there was nothing seriously disturbing in foreign mon-etary affairs, slow but steady recovery ensued, and an extensive upward reaction occurred. Amal. Copper rose on rumors of a combination wit h competing interests. The Hawley properties experienced a rise on the advent of the Hawley interests to control in Mo. Kan. & Tex. Gt. Nor. sold down from 154¼ Oct. 4 to 142½x Oct. 28 and closed Oct. 30 at 145½. Nor. Pac. dropped from 157 ¼ Oct. 4 to 144¾x Oct.26, with the close 148%. · U. P. com. was 209¾ Oct. 4, 197 Oct. 23 and closed at 201¾. Sou. P ac. was 133 ¾ Oct. 1, 126½ Oct. 26, with the close 129 ½- P enn. was 150 Oct. 1, 144 ¾ Oct. 23 and closed at 148 %. Reading com. from 170 ½ Oct. 4 fell to 158 Oct. 23 and closed at 162 ¾ . Steel com. from 89 Oct . 1 rose to 94½ Oct. 4, then dropped to 85½ Oct. 13, but closed at 90½. Amal. Cop. opened Oct. 1 at 82¼, declined to 77% Oct. 13, then ran up to 87½ Oct. 29 and closed at 86 ¼. Besides the increase in the dividend on Steel com. , Atch. Top. & Santa Fe restored its common stock to a 6% basi ; Norf. & West. advanced its s. a,. div. on com. from 2 to 2½ % Other advances were by P ac. Coast Co. (com. and 2d pref.), Leh. Coal & Nav. and U. S. Express. Alb. & Susq. declared a special div. of 30% out of savings from refunding its debt, the U.S. Supreme Court having given a decision in its favor. Butte Coalition Mining resumed dividends after suspension since December 1907. Shareholders of the Can. P ac. were given the right to subscribe at 125 for $30,000,000 new stock to the extent of 20% of their holdings, subscriptions payable in five installments, the last September 1910. James Speyer succeeded in •arranging for the sale i,n Germany of $6,000,000 St. L. & San Fran. gen . lien 5s, the bonds to be brought out later. . Y. Telephone Co. sold $25,000,000 4½s, one-half in this country and the other half in London. The Money M arket.-Call loans touched 6% early in October , but with the irnprovernent in the situation of the Clearing-House bank's the highest rate the latter part was 4 % . Rates for tirne loans sharply advanced with the cutting off of supplies of ·foreign credit on account of the high discounts abroad. Rates at the close were pretty generally 4¾@5 for all maturities up to six months. Commercial paper for double names and the best single names commanded 5½ %Money holdings of the Clearing-House banks were only $319,755,800 Oct. 30, against $329,332, 700 Oct. 2, but , because of the reduction in deposits , surplus reserves increased from $1,627 ,525 Oct. 2 to $16,607,350 Oct. 23, with a fall to $11,099,600 Oct. 30. Deposits were reduced from $1,310,820,700 Oct. 2 to $1,234,624,800 Oct. 30. Loans, after b eing contracted frorn $1,304,962,900 Oct. 2 to $1,231,411,000 Oct. 16 , increased to $1,237,177,400 Oct. 30. Loans of the outside institutions, after rising from $1,238,473,200 Oct. 2 to $1,246,342, 700 Oct. 9, decreased to $1,205,482,600 Oct. 30. Money holdings of these institutions were $149,512 ,900 Oct. 30, against $154,023,400 Oct. 2. Foreign Exchange, Silver, &c. -Strength characterized foreign exchange during October. The first few days there was a drop to the lowest figures reached for some time, which suggested the possibility of gold imports, though rates did not get anywhere near the import point. The repeated advances, however,. in discount rates, as noted above, by the leading European banks, completely transformed the situation, and the latter part of the month the possibility was presented of gold exports. No engagements for Europe actually occurred, but shipments were made to Brazil and considerable gold also went to Canada. Owing to the dearer money in Europe, there was selling of American securities for foreign account, and this played its part in the rise in exchange. Provision also had to be made for maturing finance bills, which under the prevailing monetary conditions could not b e renewed, besides which a short interest in exchange existed. Early in the month $2,000,000 gold was transferred to San Francisco for shipment to Japan. Sight sterling was at its lowest Oct. 6 at 4 8560@4 8565 and cable transfers then were 4 8585@4 8595. By Oct. 23 sight was 4 8765@4 8775 and cables 4 8815@4 8825. The close Oct. 30 was 4 8730@4 8740 and 4 8775@4 8780. Sixty-day bills were at their lowest Oct. 15 at 4 8285@4 8295, with the close 30 RETROSPECT. Oct. 30 4 8330@4 8340. Open market discounts at the close were 4 9-16 (after having been 4%) at London; 4 5-16 (after having been 4½) at Berlin, and 2¾ at Paris (after having been 2 ½) . Silver in London moved within a narrow range, with the close 23 l-16d. NOVEMBER.-Current Events.-The 5% rate of the Bank of England proved effective in reinforcing the Bank's bullion holdings , thereby relieving apprehensions on that score here, but, on the other hand, a decision adverse to the legality of the Standard Oil combination had an unsettling effect. The Bank continued to get substantially all the South African arrivals of ·g old and also drew supplies from Paris and other European centres, besides continuing to divert the greater portion of the demand for,gold for South Amer. to N. Y. Its weekly return for Nov. 4 still showed a loss in bullion, though only £175,104, but the return for Nov. 11 showed £1,004,771 gain; that for Nov. 18 £2,141,661 and that for Nov. 25 £1,209,996 gain; for Dec. 1 there was again a small loss, £255,479. Shipments of gold from N. Y. to South Amer. were very heavy, reaching $8,447,000. The discussion on the Budget of Lloyd-George, Chancellor of the Exchequer, aroused intense interest. The House of Commons passed the Budget on Nov. 4 by the vote of 379 to 149. It was generally believed that the Lords would reject the Bill, but definite confirmation did not come until Tuesday, Nov. 16, when Lord Lansdowne, leader of the conservative party in the Upper House, formally announced that the following Monday, Nov. 22, he would submit the following motion: "I move that this House is not justified in giving its consent to this bill until it has been submitted to the judgment of the country ." The vote came just before midnight, Nov. 30, and resulted against the Budget by 350 to 75. Promptly the next month (Dec. 2) the Commons by 349 to 134 adopted Premier Asquith's resolution declaring "that the action of the House of Lords in refusing to pass into law the financial provisions made by this Chamber for the expenses of the year was a breach of the Constitution and usurpation of the rights of the House of Commons." The next day (Dec. 3) Parliament was formally prorogued until Jan. The antagonism to the Budget arose out of the fact that it embodied economic and financial propositions of a revolutionary character. It was also criticised because of the attempt to re-enact indirectly legislation previously rejected by the Lords, such as the "licensing clauses." The Standard Oil decision was rendered Saturday", Nov. 20, by the four U. S. Judges of the Court of Appeals of the Eighth Circuit sitting en bane in the U.S. Circuit Court at St. Louis, the Judges being Walter K. Sanborn, Willis Van Devanter, William C. Hook and Elmer B. Adams. The decision was unanimous and came from a tribunal whose judgments in the past had been found unusually sound. The opinion was by Judge Sanborn, and Judge Hook delivered a brief concurring opinion. The Court ruled that the individual defendants (the Standard Oil magnates) had united with the Standard Co. and its subsidiaries to effectuate a combination or conspiracy in restraint of trade and commerce among the several States, in contravention to Sec. I of the Sherman Anti-Trust Act of 1890; also, that they had combined and conspired to monopolize a substantial part of inter-State and international commerce in violation of Sec. II of the same Act, this latter being the clause under which criminal pro ecutions may be brought. The Court followed the unusual ourse of drawing up the decree itself and it was very sweeping in character, interdicting all the various devices adopted by the Standard Oil people in the past in seeking to avoid State anti-trust laws, and leaves no recourse to the defendants (provided the judgment of the Court of Appeals shall be sustained by the U.S. Supreme Court) except the actual distribution among Standard Oil shareholders of the stockholdings in the subsidiary companies. Moreover, all the defendants, both individual and corporate, are absolutely "enjoined and prohibited until the discontinuance of the operation of the illegal combination from engaging or continuing in commerce among the States or in the territories of the U. S." The decree was stayed by appeal to the Supreme Court. While it was recognized that in many respects the Standard Oil combination stands in a class all by itself by reason of its long record in suppressing competition and the large percentage of the trade in refined oil which it controls, it was also felt that the rules laid down by the Court, as likewise the similar principles enunciated by the U. S. Circuit Court of Appeals for the Southern District of N. Y. in the case of the Am. Tobacco Co. in Nov. of the previous year, rendered many ·other industrial combinations liable to be declared illegal if the U. S. Govt. should undertake to proceed against them. On this account the decision proved very disturbing and precipitated a break in prices on the Stock Exch. Negotiations hadlbeen under way prior to the decision for combining a large number of copper-producing concerns, and based on the same, an active speculation at rising prices in various copper shares had been engineered, notwithstanding further accumulations of copper here and abroad. The properties which it was sought to combine comprised those controlled by the Amal. Copper Co., the United Metals Selling Co., the ColeRyan properties and the Guggenheim properties. After the Standard Oil decision, it was at first declared that this decision would have no effect as regards the plan for combining the_copper mines and the copper shares were actually pushed upward again. Later, uncertainty again developed, and a renewed break occurred in the copper shares. Another important event was the purchase by the Amer. T. & T. Co. from the https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Gould people of a large amount, understood to be $30,000,000 of the $99,787,000, of stock of the Western Union Telegraph Company. This purchase, pointing as it seemed to do, to a possible union (though only co-operation is claimed) of the telegraph and telephone business, led to some expressions of hostility, with reports of possible interference or investigation by the Government. Speculation in cotton was maintained, but the course of prices was downward. ByNov.3middlin'guplands atN.Y.had been boosted to 15.20c.; a violent collapse carried the price by the 8th down to 14.20c.; two days afterward it was back again to 15.l0c.; the close Nov. 30, however, was at only 14.55c. Print cloths ruled throughout at 4c. December wheat at Chicago declined to $1.01.½ Nov. 4; but on reports of damage to the Argentina crop there was an advance to $1.09 ½ Nov. 23, with the close $1.06 ½. Government money holdings were reduced from $308,794,235 to $302,347,155 and Govt. deposits with the banks from $49 ,497,654 to $49,069,718 . National bank notes, secured by bonds, increased from $678,344,963 to $680,995,267. Several railroads announced new stock issues and gave their shareholders valuable "rights" in connection with the same, the effect in each case being to cause important declines in such shares. Penn. RR. offered 25% new stock (aggregating $82,517,800) at par. The stock sold Nov. 30 at 129¾ ex rights, against 149½ Nov. 1; $53,123,000 of conv. bonds also were exchanged for stock to get the right to take the new stock at par. N. Y. Cent. offered its shareholders 25% new stock at par, calling for $44,658,000; the shares sold Nov. 30 with the "rights" still on at 125 ½, against 137.½ Nov. 1. N. Y. N. H. & H. offered 25% new stock at 125, the additional stock being $50,000,000. Chic. & N. W. announced the next month that com. and pref. shareholders of record Jan. 10 1910 would be allowed to take 25% new com. at par, calling for 30,503,000 new stock. Tom L. Johnson, for many years Mayor of Cleveland, 0., and responsible for the prolonged traction troubles in that city, was defeated for re-election. At the triangular mayoralty contest in this city, at which William J. Gaynor , Otto T. Bannard arid William R. Hearst were candidates, Judge Gaynor was successful. The Court of Appeals of the Dist. of Columbia re-affirmed the jail sentences against the labor leaders, Gompers, Mitchell and Morrison. The receivers of the Chic. Peoria & St. L. RR. raised passenger rates from 2 to 3c. per mile to non-competitive points under the injunction of the U.S. Circuit Court restraining the enforcement of the Illinois Two-Cent Passenger Rate Law. The Chilian Govt. deposited $1,000,000 in London to the order of the H ague Arbitration Court in connection with the famous Alsop claim of the U. S.; the next month King Edward of Great Britain was selected as arbiter upon the claim. The Irish Land Bill was passed by the British Parliament after a compromise on certain amendments between the House of Commons and the House of Lords. Another attack was made upon the life of Lord Minto, the British representative in India. A plan for the reform of the British administration of India, admitting the natives to an important share in the legislation of the country, came into effect . Herbert John Gladstone accepted the post of Governor-General of United South Africa. The Fourth National Bank of this city announced a proposed increase in its stock from $3,000,000 to $5,000,000, the new stock to be sold at $200 per $100 share. A plan for the consolidation of the Mechanics' National Bank with the Nat. Copper Bank was arranged. Clark Williams, N. Y. Supt. of Banks, was appointed State Comptroller by Gov. Hughes and was succeeded by 0. H. Cheney, the Second Deputy Supt. In an amended bill in ouster suits against 38 insurance companies in Mississippi the attorneys for the State demanded penalties aggregating $215,000,000 for having entered into, as alleged, agreements regarding rates. In Arkansas similar suits against 65 companies had been filed in Aug. and a fine of $1,000,000 demanded from each one. The last spike on the West. Pac. Ry., the new Gould line, extending from Salt Lake City, Utah, to Oakland, Cal., opposite San Francisco, 927 miles, was driven Nov. 1. The previous month (Oct. 28) the first through train over the Carolina Clinchfield & Ohio RR. from Dante, Va., to Spartanburg, S. C., 244 miles, was run. The Clev. Cin. Chic. & St. L. Ry. uncovered a shortage of $643,000 in the accounts of its local treasurer at Cincinnati. A plan for a pension system for employees of the N. Y. Cent., the L. S. & Mich. So. and the Mich Cent. to go into effect Jan. 1 1910 was announced. Electors in N. Y. State adopted a constitutional amendment permitting the deduction of rapid transit and dock bonds in figuring the borrowing capacity of N. Y. City and the deduction of water bonds in figuring the debt of third-class cities; they also adopted three other amendments and the proposition to issue $7,000,000 C~yuga and Seneca Canal bonds. Railroad Events and Stock Exchange Matters.-The Standard Oil decision caused a sharp break in prices the latter part of November. In the early part dealings were light and prices irregular. The copper shares were strong on the negotia tions for a copper combination, while Amer. Sugar Refining was conspicuously weak on the Custom House developments adverse to the company. The Standard Oil decision came Saturday, Nov. 20, and caused a slump in prices that lasted until about the 2 4.th. Determined support was evidently extended, and this finally proved effective, especially as intimations came that the copper combination would be carried out notwi'.ihstanding the decision referred to. The latter part of thr, month, when it appeared that RETROSPECT. this was not to be the case, a renewed break occurred. At this time, too, the off er of $44,658,000 new stock by the N. Y. Cent. proved a depressing "feature. Other shares were also weak by reason of the announcement of new stock issues and offers of rights-instances being Penna and Chic. & N. W., as noted above. Amer. Sugar Refining com. got down to 1151/s Nov. 30, against 134 Nov. 4; Amal. Copper, after opening at 86½ Nov. 1, rose to 96½ Nov. 19, but dropped to 83 % Nov. 29 and closed Nov. 30 at 85 ¾. Steel com. opened at 901/s, got up to 93½ Nov. 4 and dropped to 85½ Nov. 30. N. Y. Cent. declined from 137½ Nov. 1 to 125½ Nov. 30, and Penna. from 149½ to 129¾ ex-"rights"; Chicago & N. W. com. from 190 Nov. 3 to 177¾ Nov. 29; Nor. Pac. from 149½ Nov. 5 to 142½ Nov. 30; Sou. Pac. from 130½ Nov. 5 to 127 Nov. 30. In the case of Reading com. the low point was 160¾ Nov. 11, the high 172½ Nov. 26 and the close 167 Nov. 30. Union Pac. com. was 202½ Nov. 1, 199½ Nov. 10, 205 Nov. 19 and closed at 200½. Cent. of N. J. declared an extra div. of 2% (making 10% for the year), presumably out of the 6 ½% div . received by it on the stock of the Lehigh & Wilkes-Barre Coal Co. Wells Fargo & Co. (Express) announced that a 300% div. would be paid as soon as the necessary steps to that end could be taken. The Aluminum Co. of Amer. (Pittsburgh) announced a stock div. of 500% on its capital of $3,200,000, calling for $16 ,000,000 of new stock. Am. Cot. Oil Co. made the annual div. on com. 5%, against 3% in 1908. Mo. Pac. arranged for financing its floating debt and other needs, and offered shareholders $29,806,000 of new Series "A" 1st & ref. mtge. bonds at 95, payment to be in instalments in January, March and April 1910. The Money Market.-Money during November ruled high. Following the 1st of Nov. payments, there was some manifestation of an easier tendency, but the renewal of gold exports to South America and some out-of-town calling of loans again sent rates upward. Foreign funds were then attracted, including considerable sums from France, without, however, materially weakening rates. Call loans ranged from 2½ to 6, with rates Nov. 30 4@5. Time money closed at 5% for 60 days, 4¾@5 for 90 days and 4¾ for 4, 5 and 6 mos. Commercial paper was drawn more freely than could be readily discounted, as the inquiry was restricted because of the high rates obtainable on stock loans. At the close quotations were 5@5¾ for double names, 5½@6 for the choicest single names and 6@6 ½ for good single names. Money holdings of the Clearing-House banks decreased from $319,755,800 Oct. 30 to $298,960,800 Dec. 4 . Surplus reserves were down to $4,496,325 Nov. 6, up again to $11,334,350 Nov. 27 and $9,705,925 Dec. 4. Deposits fell from $1,234,624,800 Oct. 30 to $1,157,019,500 Dec. 4 and loans from $1,237,177,400 to $1,181,957,500. Money holdings of the outside institutions fell from $149,512,900 to $140,127,000 and loans from $1,205,482,600 to $1,188 ,441,300. Foreign Exchange, Silver, &c.-Exchange rates were a little easier the first few days, but the rest of the month evinced a strong rising tendency. Though considerable amounts of finance bills drawn during the summer began to mature, no difficulty was experienced in effecting renewals in London or in obtaining favorable treatment in Paris. Some new finance bills were also in evidence. Furthermore, with the lowering of discount rates abroad, an active demand developed in this market for gilt-edged bonds and shortterm notes by French and English bankers. As against all this, however, there was persistent buying of exchange by an international banking firm of large prominence, and considerable demand to cover outstanding short contracts in exchange. The close was at the highest figures of the month for all classes of bills. The low point was Nov. 4, at 4 8310 @4 8325 for 60 days, 4 8705@4 8710 for sight and 4 8755@ 4 8765 for cable transfers. The close Nov. 30 was at 4 84@ 4 8410, 4 8770@4 8775 and 4 8820@4 8825. The month's gold exports to South America are ref erred to above and also the gain in the bullion holdings in the Bank of England. Open market discounts abroad at the close were 3 15-16 for 60 days and 3 ½ for 90 days at London; 2 ¾ at Paris and 41/s at Berlin. Silver in London Nov. 30 was 231/gd. DECEMBER.-Current Events.-Congress convened Dec .ij and the President's Message contained no disturbing featur e&. It omitted , however, discussion of the matters concerning which there was chief anxiety, namely the Anti-Trust Law and the proposed amendments to the Inter-State Commerce Law-these being reserved for special messages. Trade expansion kept actively under way. Contrary to expectations. in view of the electora.I campaign in 0-reat Britain, the Bank of England on Dec. 9 reduced its discount rat,e from 5 % to 4½%- Premier Asquith conducted a clever campaign with the idea of enlisting the support of many different elements and factions. His program included the granting of selfgovernment in domestic affairs in Irela nd. He declared in favor of "a policy which, while explicitly safeguarding the supreme, indivisible authority of the Imperial Parliament, can set up in Ireland a system of full self-government as regards purely Irish affairs." This declaration led the Irish Nationalists to pass a resolution to support the Liberals. The Labor Party, too, determined to aid the Liberal cause, and the Labor leaders proposed a plan for sinking petty jealousies in various constituencies, so as to avoid triangular contests which might result to the advantage of the Conservative Party. Mr. Asquith also won support for his side by https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 31 denying that the Liberal Party was committed to a Parliament with a single chamber-he said it was not the purpose to abolish the House of Lords, but simply to reform it. Nicaraguan affairs assumed great importance, the United States breaking off official relations with the Government of Presiden t Zelaya. On Dec. 1 Mr. Knox, Secretary of State, sent a note to Senor Rodriguez, the Zelayan Charge d' Affaires, dealing with the execution of the two Americans (Groce and Cannon) who had acted as officers with the insurgents underGeneral Estrada, and saying that it was notorious that since the Washington conventions of 1907 President Zelaya had almost continuously kept Central America in tension of turmoil and repeatedly and flagrantly violated the provisions of those conventions. The Government of the United States,. he declared, was convinced that the revolution represented the ideals and the will of a majority of the Nicaraguan p eople more faithfully than did the Government of Zelaya . In these circumstances President Taft no longer felt for the Zelayan Government "that respect and confidence which would make it appropriate hereafter to maintain with it regular diplomatic relations." Accordingly, the Charge d' Affaires was given his passports, but was informed that the Secretary of State would be glad to receive him, "as I shall be happy to receive the representative of the revolution, each as the unofficial channel of communication between the Government of the United States and the de facto authorities. " The United States hurried warships and marines to the Nicaraguan coast, but did not actually interfere in Nicaraguan internal affairs. . Events nevertheless followed in quick,, succe~sion. President Zelaya resigned his office and Judge Jose Madriz was elected as his successor. The revoiutionary party continued their struggle, and on Dec. 21 a sanguinary battle took place, the casualties on both sides totaling 1,000,. while General Estrada apparently gained a victory over Zelaya's men, about 1,900 of whom, it was reported , surrendered. Later President Zelaya took his departure from the cou ntry, going to Mexico. The attitude of our Government was not favorably viewed by the other Central American States. There were an unusual number of Cabinet changes in Europe, including Italy, Turkey and Portugal. Leopold II., King of the Belgians, died and was succeeded by Prince Albert, the son of his brother, the late Phillippe, Count of Flanders, who took the title of Albert I. Several political, assassinations occurred almost simultaneously on Dec. 21-22. Yi Wan Yon, Prime Minister of Corea, was stabbed and fatally wounded by a Corean1 Arthur M. T. Jackson, Chi ef Magistrate of N asik in the Presidency of Bombay, was assassinated by a native; Colonel Karpoff, Chief of the Secret Police of St. Petersburg, was likewise assassinated. A strikeof the switchmen on the various railroads running west and north of St. Paul and Lake Superior inaugurated Tuesday evening, Nov. 30, by the International Switchmen's Union ~ proved somewhat disturbing the early part of December. For a day or two it had the effect of paralyzing trade andl business in the whole of the territory from the head of theGreat Lakes to the North Pacific coast. The flour mills in Minneapolis had to shut down for a time, smelting and c.upper-mining operations in Montana had to be curtailed, and ' trade was interrupted in other ways. But the strike quickly lost its influence , as the railroads succeeded in replacing the strikers with new men. The switchmen's union had asked for a further advance of 60 cents per day in the wages of switchmen, switch-tenders , tower-men, &c., notwithstanding that the pay of the switchmen had been increased over 13% in Nov. 1906. The roads offered an increase of 20 cts. a day west of Havre, Mont., and west of Billings, Mont., and, also offered to submit the whole matter to arbitration under the Erdman Act, but both proposals were rejected. Later in the month it was announced that the Brotherhood of Railway Trainmen, covering the territory east of the Mississippi and north of the Ohio, had served notice upon the roadsthat in January 1910 a demand for an increase in the wages of railway trainmen of 5% to 40% would be made. The American Federation of Labor declared war against the U. S. Steel Corporation, apparently because of the action of the latterin having the previous July put the plants of the American Sheet & Tin Plate Co. on the open-shop basis, as a res ·.1lt of, which the Amalgamated Association of Iron, Steel & TinPlate Workers had at that time inaugurated a strike, which strike was nominally still in progress. The Agricultural Bureau at Washington on Dec. 10 estimated the cotton crop, at only 10,088,000 bales, exclusive of !inters; the estimate was generally rejected in conservative circles, but had the effect of renewing the cotton speculation, middling upland cotton in this market Dec. 30 being quoted at 16.15 cts ., asagainst 14.55 cts. Nov. 30. The close Dec. 31 was at 16.1(}., cts. All the future options from March to August inclusive sold above 16 cts. Print cloths at Fall River ruled at 4 cts. The switchmen's strike in the Northwest and heavy stormshad the effect of diminishing grain receipts at the primary markets, and this, together with rumors of damage to the Argentine crop, sent grain prices sharply upward. A modification of conditions in all these respects caused a recession by the close. May wheat at Chicago was $1.05½ Dec. 1, $1.14¾ Dec. 18 and closed Dec. 31 at $1.11 ½, Prices of corn and oats also advanced several cents. The U. S. Secre-tary of the Treasury on Dec. 18 announced that after Feb. 1 1910 State, city and railroad bonds (other than the bonds of our territorial possessions and bonds of the Philippine Ry.} would not be accepted as security for Government deposits 32 RETROSPECT. in the banks. Only $10,415,500 of State, city and railroad bonds were still pledged as security for such deposits at the beginning of the month. Government money holdings Dec.31 were $308,096,509; against $302,347,155 Dec. 1; deposits in the banks were $47,926,877, against $49,069,718. National bank circulation secured by bonds increased from $680,995,267 to $683,401,523. Judge Horace H. Lurton of Tenn. was nominated and confirmed as successor to Justice Peckham in the V. S. Supreme Court. The Bowery Savings Bank of this -city, the largest of all the savings institutions, reduced the rate of interest on deposits from 4% per annum to 3 ½% ; the Dry Dock and two of the smaller institutions took similar action. Mr. J. P. Morgan bought the majority stock of the Equitable Life Assurance Society, owned by Thomas F. Ryan; the purchase was subject to the trust which Mr. Ryan had created for the benefit of the policyholders. A syndicate headed by Henry P. Davison, of J. P. Morgan & Co., bought a controlling interest in the Guaranty T,rust Co. by taking over the share holdings of the late E. H. Harriman, those of the Mutual Life Insurance Co. and stock owned by other interests. The Kansas Bank Deposit Guaranty law, under which it is optional for a bank to join or not , was declared unconstitutional by Judge J.C. Pollock of the U.S. Circuit Court at Topeka, because, under a ruling of the Federal officials, national banks cannot under the law participate in schemes of that kind, thus producing discrimination and conferring special privileges upon certain classes of institutions , in violation, as Judge Pollock held, of the 14th Amendment of the Federal Constitution. In Oklahoma there were two further small bank failures growing , it was stated, out of the suspension the previous Sept. of the Columbia Bank & Trust Co. of Oklahoma City. The Enid State Guaranty Bank of Enid, Okla., which the previous May had taken out a State charter, decided again to come under the Federal laws, resuming its old name, the 1st Nat. Bank. The U.S. Supreme Court decided against the Inter-State Commerce Commission in its attempt to reduce from $2 to $1 per car the terminal charges imposed on shipments of live stock by the railroads entering Chicago. Justice Brewer said it was impossible to avoid the conclusion that , considered of and by itself, the terminal charge of $2 a car was reasonable. The Court of Appeals of this State reversed the Public Service Commission of the Second District, which had refused permission to the Del. & Hud. Co. to issue bonds for the purpose of taking up obligations incurred in the purchase of an electric railway and some coal properties. The. Court stated that inasmuch as the bonds were for purposes allowed by statute, the Commissioners could not constitute themselves the financial managers of the corporation or substitute their judgment for that of the directors or stockholders. Five former employees of the American Sugar Refining Co. were found guilty of sugarweighing frauds, after trial by a jury; as to a sixth (former Cashier James F. Bendernagel) there was disagreement. Arbuckle Bros. paid to the U.S. Government $695,573 in settlement of the Government's claim of a shortage in sugar duties on imports between 1898 and Nov. 1907 by reason, as alleged, of underweights. The limit of $150,000,000 fixed by statute on the new business written by any insurance company in this State was upheld by the Appellate Division of the Supreme Court. A jury in the N .Y. Supreme Court, after a trial lasting a.bout nine weeks, returned a verdict of g~ilty against the Amer. Ice Co. on the charge that it had violated the N. Y. Anti-Trust Law. In Texas H. Clay Pierce was, by direction of the Court, acquitted of the charge of perjury and false swearing in connection with Anti-Trust proceedings brought by the State of Texas against the Waters-Pierce Oil Co. Judge Calhoun held that Mr. Pierce, having been compelled to testify by the Supreme Court of Missouri,wasimmune from prosecution. The Middle States and New England were visited by a very heavy snowstorm which began on Christmas Day and continued until the afternoon of the next day, seriously impeding railroad transportation and bringing traffic on the surface lines in leading cities, more particularly Philadelphia and New York, to an almost complete standstill for the time being. In this city, according to the local Wea~her Bureau, the fall of snow reached 10.1 inches; at Philadelphia it was much heavi~r. This compares with 9.5 inches here at the time of the storm on Jan. 25 1905, with 15 ½ inches at the time of the blizzard in Feb. 1899 and with 20.9 inches in the memorable blizzard of March 1888. The Rock Island Co. sold the $28,940,300 common stock held by it of the St. Louis & San Fran. RR. (giving control) to interests represented by Edwin Hawley and B. F. Yoakum, and then called the entire issue of $17,364,180 5% coll. tr. bonds of the Chic. R. I. & Pac. RR. due 1913, which were secured by a pledge of such stock. It was also announced that at the annual meeting in Jan. 1910 William H. Moore , Daniel G. Reid and E. S. Moore, all identified with the controlling party in the Rock I sland System, would b e elected directors of the Lehigh Valley RR ., they having acquired a large interest in that property. Later in the month there were some furth er important changes in Lehigh Valley ownership, Drexel & Co. of Philadelphia acquiring the Lehigh Valley stock held by the Del. Lack. & West. Previously the Erie, the Cent. of N. J. , the R eading and the Vanderbilt roads had disposed of their holdings of Lehigh Valley. J. P. Morgan & Co. bought control of the U. S. Long Distance, the Cuyahoga Telep . Co. and some other independent telephone concerns. A sensational movement in Rock I sland common stock on Dec. 27-the stock first rising and then falling 30 points within a brief https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis space of time-became the subject of an investigation by the authorities of the New Yor1' Stock Exchange. Railroad Events and Stock Exchange M atters.-Mter the decline the previous month, stocks again tended upward in December-at first rising slowly but with gradually accelerating pace the latter part of the month. The switchmen's strike in the Northwest had only. a temporary depressing effect early in the month, and was offset by the absence of disturbing features in President Taft's Message. Sharp upward movements in special stocks also served to promote speculative activity. The Rock Island shares were boosted on the theory that the sale of its St. L. & San. Fran. stock, which had never netted a return, greatly improved its position. The common had advanced from 39½ Dec. 3 to 50¼ Dec. 24, when on Dec. 27 the stock in a few minutes suddenly shot up to 81, only to drop back again with equal velocity. There was also a special upward movement in Reading 2d pref., which was unexplained except by a revival of the old story that the right possessed by the company to convert · this stock into one-half 1st pref. and one-half common might be exercised. The general market, however, remained tame, with business on a small scale until after Christmas. Then speculation gradually revived, and finally the tone became quite strong. Reading s.-a. div. on com. was increased from 2 to 3%, and the L. & N. increased from 3 s.-a. to 3½; St. L. Southw. (pref.) increased from 2 s.-a. to 2 ½. Other increases were Pennsylvania Company, Pitts. Cin. Chic. & St. L. com. and Crucible Steel Co. of America (pref.). Lehigh Coal & Nav. declared a stock div. of 15% and Pittsb. Coal Co. resumed on pref. The Steel shares were again leaders in the upward swing, and Steel common sold up from 86¾ Dec. 1 to 92 % xDec. 18, with the close Dec. 31 91. Amal. Cop. sold up from 85½ Dec. 1 to 91¼ Dec. 30. Un. Pac. com. was 197% Dec. 3 and 204½ Dec. 31. So. Pac. was 127¾ Dec. 2 and 138¼ Dec. 31. Reading com. was 167¼ Dec. 1, 172½ Dec. 23 and closed at 171. Penn. rose from 128½ Dec. 3 to 137½ Dec. 27 and closed at 137¼. Mil. & St. P. com. from 153 ½ Dec. 2 advanced to 159¼ Dec. 17 and closed at 1581/s. A sudden advance of over 10 points in Atlantic Coast Line L. & N. coll. 4s may have been connected with the increase in the L. & N. div., but appeared to be otherwise without ca.use.. J. P. Morgan & Co. offered $18,500,000 of 1st mtge. 4s of the reorganized Chic. Gt. West. RR. Mil. & St. P. sold $25,000,000 gen. mtg. 4s, chiefly to take up maturing bonds. A French syndicate took another block ($4,000,000) of gen. lien 5s of the St. L. & San Fran. Chicago interests acquired the stock in the Chicago City Ry. held for some years by a syndicate headed by J. P. Morgan & Co. and arranged for a general merger of the Chicago traction properties. The Money Market.-Money on call advanced to high figures, touching 7% Dec. 30, with the range Dec. 31 5½@ 6 ¼. Time money was much easier; the dem~nd, however, was restricted, as borrowers curtailed their requirements, expecting lower rates in Jan. The close was 4½@4¾ for 60 and 4½ for 90 days; 4¼ for 4, 5 and 6 months. Pa,per rates also declined materially, influenced by easier time money. Double names were quoted at 4¾@5¼ and the best single names at 4½@4¾, while good single names commanded 5@5½. Money holdings of the Clearing-House banks fluctuated from week to week and, were $296,354,700 Dec. 31, against $298,960 ,800 Dec. 4. Surplus reserves, after declining to $6,909,825 Dec.18, and then rising to $10,525,925 Dec. 24, were only. $3,489,100 Dec. 31. Money holdings of the outside institutions increased from $140,127,000 Dec.- 4 to $144,849,000 Dec. 31. Loans of these institutions increased from $1,188,441,300 to $1,206,946,800. Loans of the Clearing-House banks, after first expanding, decreased, and were $1,196,598,000 Dec. 31, against $1,181,957,500 Dec. 4. Deposits of the banks, after increasing from $1,157,019,500 Dec. 4 to $1,188,572,300 Dec. 18, were $1,171,462,400 Dec. 31. Foreign Exchange, Silver, &c.-Foreign exchange in Dec. advanced to the highest level of the season. The upward tendency culminated Dec. 22 with the departure of the final mail steamer to reach London during 1909. Then rates began to decline and finally a sharp break occurred. A variety of circumstances accounted for the early rise, the extreme scarcity of remittance, particularly grain and cotton, being one of these; another was the larger requirements for interest and dividend payments on Jan. 1, owing to the greater amount of American securities held abroad. There were also indications of an attempt to corner exchange on the part of certain powerful interests who had calculated upon a seriou s monetary stringency at London, owing to the failure of the Budget to pass. The fact that these interests had accumulated exchange beyond their needs and consequently had bills to sell accentuated the subsequent weakness. The Bank of England sustained heavy losses of bullion each week, but chiefly to the interior. The Bank allowed much of the South African arrivals of gold to be taken for the Continent Discount rates tended lower. Closing quotations Dec 31 were 3 % @3½ for spot and 3¼@3 1/s to arrive at London, 2¾ at Paris a nd 4¼ for spot and 3% to arrive at Berlin. Gold shipments from N. Y. to South America continued, $6,300,000 going to Ar~ntina and $2,000,000 to Brazil. When exchange was at. it~ighest, Dec. 21, sight sterling was quoted at4 8810@4 8815andcabletrnnsfersat4 8855@4 8865. The close Dec.31 was at 4 8665@4 8675and 4 8705@4 8715 . Silver in London advanced to 24¾d. and closed Dec. 31 at 24¼d. CLEARINGS AND SPECULATION. CLEARINGS AND SPECULATION IN 1909. Recovery from the condition of depression that prevailed during the greater part of 1908 is the situation disclosed by the bank clearings for the calendar year 1909. At least that is the conclusion that seems warranted from the figures before us. It has, of course, happened at times, as in 1901 and 1905, that the grand aggregate of clearings has been largely increased by a very material augmentation m stock speculation at New York, just as an important declin1'-in share transactions here, as in 1902, 1903 and 1907, resultecl. in a decrease in clearings, notwithstanding that in each instance the exchanges due to ordinary mercantile business were larger than in the previous year. In 1909, however, evidence of improvement in business was constantly apparent in bank clearings, and has been confirmed by the record of railroad earnings, building operations, iron production, &c. There was also, it is true, greater activity m speculative transactions, but the increase over the previous year has not been great enough to make any important impression on clearings. Furthermore, each month of the year gave a larger total of clearings than the corresponding month of 1908, and beginning with April there was improvement even as contrasted with 1907 . Moreover, almost every city of the 127 included in our compilation shares in the gain recorded over 1908 and in many instances the increases are notably large. The aggregate of clearings for the whole country for 1909 reached $165,608>879,423, against $132,408,849,136 in the previous year, $145,175,733,493 m 1907 and $160,019,717,333 in 1906, the last-mentioned total having been the record up to 1909. The gain over 1908 is 25.1 %, over 1907 14.1 %. -and over 1906 3.5% . At New York there ii:, · a gain over 1908 of 30_701 and over 1907 of l8.8 n-1 As compared with _ ;( /( 0 0 1906 there 1s a tnflmg declme (1.0%), which, however, should be occasion for no surprise when cognizance is taken of the fact that in that year stock speculation was a much more important factor in the making of clearings than in the year just closed. As regards the comparison with 1908, important gains have been the rule month by month, and though in one or two instances greater activity on the Stock Exchange has served to increase clearings, it has not been to such an extent as to obscure the real situation. In fact, gains in clearings in November and December were in the face of a much smaller stock speculation in 1909 than in 1908. Furthermore, as the aggregate volume of business on the Exchange for the full year was but moderately larger than for 1908, the increase of 30.7% over that year comes close to measuring the gain in clearings ascribable to the augmentation in volume of mercantile business. Outside of New York, also, the 1909 aggregate was larger than that for 1908, having been 62 millions of dollars, against 53 millions, and there is, moreover, an increase over 1907 and over 1906 as well. With the general result for 1909 so favorable, it should be unnecessary to refer to the showing made by individual cities. Suffice it, therefore, to say that there are many conspicuous percentages of gain which the compilation on page 67 of the "Chronicle" of January 8 fully discloses. Without further comment we present the following summary, showing clearings for New York, the total outside of New York, and the aggregate for the whole country for the seventeen years 1893 to 1909 inclusive. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Year. New York · Clearings. Inc. or Dec. % $ 1909 -----1908 ______ 1907 -----1906 -----1905 -- - --1!)04 -----1903 -----1902 -----1901 ______ 1900 -----1899 -----l'l9S - --- -1897 -----1896 ______ 1895 -----1894 -----1893 ------ 33 103,588,738,321 +30.7 79,275 ,880,256 -9.l 87,182,168,381 -16.7 104,675,828,656 +11.6 93,822,060,202 +36.7 68,649,418,673 +4.1 65,970,337,955-13.6 76,328,189,165 -3.9 79,427,685,842 +50.9 52,634,201,865 -13 4 60,761,791,901 +44.8 41,971,782,437 +25.6 33,427,027,471 +15.8 28,il-70,775,056 -3.3 29 841,796,9?4 +22.3 24,387,807,020 -22.0 31,261,037,730 -14 .7 Clearings Outside New York. $ 62,020 ,141,102 53,132 ,968,880 57,843 ,565,112 55,229,888,677 50,005 ,388,239 43 ,909 ,594,342 43,238,849,809 41,695 ,109,575 38,982,329,340 33,436 ,347,818 33,285 ,608,882 26,854 ,774,887 23,802 ,043,485 22,375 ,54'l,783 23,338 ,903,MO 21,072 ,251,587 22,882 ,489,378 Inc. or Dec. Total Clearings. % $ Inc. or De.c. +16.7 -8.4 +4.8 +10.1 +13.9 +1.3 +3.8 +6.7 + 16.6 +0.5 +23.9 +12.6 +6.4 -4.2 +10.1 -7 .6 165,608,879,423 132,408,849,136 145,025,733,493 159,905,717,333 143,827,448,441 112,.559,013,015 109 209,Ui7,764 118,023,298,740 118,410,015,182 86,070.549,683 94,047,400,783 68,826,557,324 57,2!::9,070,956 51,246,323,839 53,180,700,764 45,460,058,609 -!l.4 54,143,527,108 % +25.l -8.8 -9.3 +11 .0 +27.7 +3 .0 -7.4 -0.4 +37 .6 -8.5 +36.6 +20.2 +11.7 -3.7 +16.6 -15.9 -12.5 Particular interest attaches to the foregoing on account of the showing made by the clearing-houses outside of New York. From less than 13½ billions of doll~s in 1885, clearings had increased to nearly 23 billions in 1893 and in the year just closed aggregated over 62 billions• We have referred above to the importance of stockexchange dealings as a factor in bank clearings, especially where from year to yea,r t ere is any appreciable divergence in the amount of the tr:ansactions. We have also adverted to years when large increases or decreases in the volume of trading at New York have tended somewhat to obscure the true mercantile situation as measured by the totals of clearings. To a moderately greater extent m 1909 than m 1908 clearings at this city were swelled by the speculative transactions, share sales as well as bond dealings having been in excess; but the increase has not been so strikfogly large as to affect the general conclusion already expressed. A compilation showing the annual share dealings since and including 1888 is subjoined. NUMBER AND VALUE OF ~~~:!iJ~Ln AT NEW YORK sTooK Stocks. Aver. Year . Shares. Price. (approximate) 1909 __ 1908 __ 1907 __ 1906 __ 905 __ 904 __ 903 __ 214,632,194 191,206,346 196,438,824 284,298,010 263,081,lS'l 187,312,065 161,102,101 97.5 s6.6 85.8 94.2 87.3 69.9 73.2 Values Year. 19,142,\39,184 189L 15,319,491,1911897-14,757,802,189 1896 __ 23,393,101,482 1895__ 21,295,723,688 1894 __ 12,061,452,399 1893 __ 11,004,083.001 1892 __ ~&L m:g~tm ~g-g M:m:iig:i~r mL Stocks, Aver. Shares. Price. (approximate) 112,699,957 11,324,112 54,654,096 66,583,232 49,075,032 80,977,839 85,875,092 12 .1 67.o 65.2 60-.3 64.2 60.3 63.5 ~t~iu:~ ~:~ 000 .:_ 138,380,184 69.2 9,249,285,109 1889__ 72,014,600 61.0 899 __ 176,421,135 78.6 13,429,291,715 1888__ (;5,179,106 62 .5 Values 8,187:~13.985 4,973,553,06 5 3,329,969,940 3,SC8,3:l8,604 3,094,942,769 4,550,260,916 4.874,014,262 tg}?:m:m 4,059,231,891 3,539,519,143 Railroad ahd miscellaneous issues of a par value of $1,279,404,100 were dealt in, an aggregate 280 millions of. dollars heavier than that of 1908 and 265 millions in excess of the previous record of 1,014¾ millions made in 1904. On the other hand State and Government bond sales, including Japanese, Mexican, Cuban and some South American issues, totaled only 37½ millions, against 82¼ millions in 1908 and about 25 millions in 1904. The year's total sales of bonds of all kinds at New York, however, exceeded any earlier aggregate, · having been only a little less than 1,317½ millions, against 1,081 millions in 1908 and 1,040 million~ in 1904. The appended table gives the details of the stock, bond and bank share dealings . for the last two years. Twelve Months 1908. Twelve Months 1909. D escription. Par Value or Quantity. Actual Value. Aver. Price. Par Value or Quantity. Actual Aver. Value. Price 197,206.346 214,632,19 4 Stock {Sb's. l Val. $19l33,970, 150 $19142,339,184 97.5 $17694,247,800 $15319.491, 797 RR. bonds$!, 79 ,404,100 $1,248,062,334 97.5 $999,025,800 $885,406,197 $850, 106 110.2 $521,820 $573,491 $771 ,200 Gov't bds_ $85,123,684 $36,800,078 99 .1 $81,713,500 $37,115,700 State bds . • $455,583 $1,046,958 246.2 8226,500 $425,250 Bank st'ks 86.6 88.1 109 .9 104 .2 200.3 Total. ___ $20951,686,400 $20429,098,660 97.5 $18775,735,420 $16291,050,752 86.8 As stated above, the total of bank clearings outside of New York, as well as for t his city, was greater than for the previous year, or, in fact, any earlier year, and it is almost superfluous to remark that the _various cities and sections quite generally shared in the CLEARINGS AND SPECULATION. 34 increase. This will be seen by consulting the annexed compilation, which indicates the course of bank clearings at a number of leading cities for December and twelve months for each of the last four years. • BANK CLEARINGS AT LEADING CITIES FOR DECEMBER AND THE YEAR. - - - D e c e m b e r - - - ---Jan. 1 to D ec. 3 1 - - 1907 . 1906. 1908. (000,000s 1909. 1908. 1907. 1906. 1909 . omitted.) $ S $ $ S $ s s New York ________ 9,907 9,266 5,350 9,228 103,589 79,276 87,182 104,676 Chicago _________ 1,225 1.134 815 1,007 13 ,782 11,854 12,088 11,047 Boston __________ 772 720 517 719 8 ,440 7,339 8,135 8,335 Philadelphia______ 747 571 493 668 7,022 5,938 7,161 7,687 St. Louts_________ 323 298 246 272 3,442 3,075 3,166 2,973 Pittsburgh_______ 234 183 , 203 230 2,361 2,065 2,744 2,641 1,757 2,134 San Fraqctsco_____ 194 152 129 203 1,980 1,998 Baltimore _______ 146 121 104 131 1,470 1,241 1,473 1,445 ClnclnnatL. ___ ___ 123 114 91 111 1,348 1,230 1,362 1,310 Kansas City____ __ 223 181 123 128 2,396 1,848 1,649 1,332 Cleveland________ 83 67 64 75 877 897 750 838 New Orleans______ 107 93 96 114 904 786 957 1,020 Minneapolis _ _ _ _ _ _ 107 98 102 102 1,030 1,057 1,158 991 Louisville ________ 68 64 37 56 654 645 650 580 Detroit __________ 71 60 55 57 768 668 712 670 Milwaukee_______ 55 52 44 45 603 548 562 493 Los Angeles______ 65 53 28 53 673 5 2 579 506 Providence _ _ __ _ _ 40 33 28 38 399 337 390 397 Omaha__________ 62 59 42 46 735 568 504 602 Buffalo__________ 43 36 32 36 468 445 409 396 St. PauL_________ 48 45 46 41 518 484 485 419 Indianapolis ____ • 41 38 25 35 421 380 399 3 66 Denver_______ ___ 41 41 31 35 466 410 408 350 Richmond___ _____ 38 30 27 27 361 299 322 30 3 Memphis ______ __ 32 27 27 28 287 253 249 248 Seattle___________ 55 41 31 43 587 429 489 4 6 Hartrord ________ 18 15 13 16 184 167 184 183 Salt Lake City____ 33 29 13 33 337 257 292 288 MONTHLY CLEARINGS. Cleartng1 Outltde New Yor.t. cieartn111, TotaJ AU. Month. 1909. 1908. s s % 1909. 1908. s s % Jan __ 14,035,198,325 11,373,873,175 +11.4 5,150,898,630 4,623,598,218 +11.4 Feb •• 11,244,250,289 8,767,501,643 +28.2 4,356,544,965 3,871,470,815 +12.6 ~tch _ 12,606,397,179 9,788,960,321 +28.7 5,1111,549,050 4,287,919,982 +19.3 Lat qr. 37,895 .835 793 April_ 13,664,720,597 May •. 12,889,301,041 June _ 14,134,647,245 29,930,335,139 9,776,913,522 10,868,844,965 9,835,204,180 +27.2 +39.8 +19.5 +45.5 14,626,992,654 5,059,991.920 4,893,050,949 5,022,944,941 12,782,989,015 +14.4 4,289,339,214 +15.4 4,199,011,134 +16.5 4,181,344,263 +20.z 2d qr_ 40,788,668,883 30,480,962,667 +33.8 14 ,975,986,810 12,669,694,611 +18.2 6 mos. July __ Aug __ Sept__ 78,684,504,676 13,450,296,601 13,494, 088,282 13,523,716,649 60,411,297,806 11,083,067,658 10,258,939,077 11,123,659,566 +30.2 +21.4 +31.5 +21.6 29,602,979,464 5,130,554,853 4,807,150,872 5,045,339,702 25,452,683,626 4,464,979,899 4,033,825,469 4,341,175,951 +16.3 +14.9 +19.1 +15.3 3d qr_ 40,468,101,532 32,465,666,301 +24.7 14,983,545,427 12,839,981,319 +16 .7 9 mos_ 119152606,208 92 ,876,964,107 Oct __ 15.851,214,417 12,146,793,193 Nov __ 14 ,761 ,814,837 12,990,265,305 Dec __ 15 ,843,243,961 14,394,826,531 +28.3 +30.4 +13.6 +10 .1 44,586,524,891 5,798,872,871 5,698,238,18 5,936,505,156 38,292.664,945 4,912.521.420 4,799 ,242,503 5,128,540,01 2 +16 .4 +18 .0 +18 .7 +15 .8 4th qr . 46,456,273,215 39,531,885,029 +17 .5 17,433,616,211 14,840,303,935 +17.5 Year_ 165608,879,423 132408,849, 136 +25.l 62,020,141,102 53,132,968,880 +16.7 It will be observed that in every month a gain was recorded and that even in November and December, when stock transactions at New York were much smaller than in 1908, the increases in clearings reached 13.6% and 10.1% , respectively. · With regard to the various groups into which we Total _________ 14,901 13,621 8,812 13,577 156,102 124,545 136,762 152,625 Other cities_______ 942 774 611 708 9,507 7,864 8,414 7,395 have divided the cities , it is enough to say that the most Total au ____ ___ l5,843 14,395 9,423 14,285 165,609 132,409 145,176 160,020 conspicuous percentages of gain are to be found in the Outside New York_ 5,936 5,129 4,073 5,057 62,020 53,133 57,994 55,344 Middle and Pacific sections, but that all groups make While at no time was there that conspicuous activity a very favorable showing. The table of clearings by in stock speculation at the New York Stock Exchange groups, for each quarter of the last six years, is now that was noticeable in 1906, transactions were of quite appended . satisfactory volume from month to month, and upon Second Third Fourth First Ta tal Clearinqs R eported. a comparatively high basis of values for representaQuarter . Quarter. Quarter. Quarter. Y ear . (000s omitted.) - - - ---$ $ tives issues. Without further comment we give the . s 23 ,258,843 25,822,682 25,484,556 29,022,657 .103 ,588,738 1908 __ 17,147,346 17 ,811,268 19,524,685 24,792,581 79,275,880 following, showing the share transactions for each 1907 __ 26,531,458 21,371,556 20,232,482 19,046,672 87 ,182,168 New York ______ 1906 __ 27,939,858 25,152,186 24,403,559 27,179,926 104,675,829 month and quarter of the last two years. 1905 __ 23,584,452 23,300,154 20,679,257 26 258,197 93 ,822,060 ("o, __ SALES OF STOCK AT THE NEW YORK STOCK EXCHANGE . 1909. M 'th. Number of Shares. Par. s l 1!108. Values Values. I Nttmber of Actual. s Sharu. I Par. s I Actual. s J an_ 17,275,500 1,609,551,575 1,550,409,801 16,594,895 1,396,403,800 1,015,764,111 F eb _ 12,337.199 1,142,192,700 1,082,075,181 9,839,706 833,139,900 609,986,418 Mch_ 13,650,595 1,240,583,900 1,175,469,766 15,939,255 1,387,712,725 1,014,698,437 stqr 43,263,294 3,992,328,175 3,807,954,748 42,373,856 3,617,316,425 2,640,448,966 782,948,479 ay 16,495,230 1,478,017,600 1,410,748,914 20,97,';,022 1,855,881,050 1,470.479.816 une 20,322_.230 1,882,256,850 1,815,478,974 9,652,437 857,496,500 771,664,685 April 19,055,618 1,719,193,800 1,647,943,217 11,648,123 1,024,180,450 d qr 55,873,078 5,079,468,250 4,874,171,105 42,275,582:3.737 ,558,000 3,025,092,980 m's 99,136,372 9,071,796,425 8,682,125,853 84,649,43817 ,354,874,425 5,665,541,946 uly_ 12,806,965 1,191,292,400 1,100,402,461 13,857 ,56311,249,522,675 964,269,481 ug_ 24,637,783 2,267,638,050 2 ,301,468,294 18,881,265;1 ,699 ,430,100 1,584,406.183 ept. 19,981,675 1,771,443,700 1,792,407,611 17 ,582,4991.557 ,670,87 5 1,485,649,298 d qr 57,426,423 5,230,374,150 5,194,278,366 50,321,327 4,506,623,650 4,034,324,962 m's 156562 795 14302,170,575 13876,404,219 134970 765 11861,498,07 5 9,699,866,908 ct_ 21,739,514 2,041,672,200 2,000,046,207 14,266,901 1,302,230,375 1,252,695.988 ov_ 18,769,870 1,697,136,975 1,675,478,912 24,966,326 2,389,941,550 2,306,950,487 ec _ 17,560,015 1,592,990,400 1,590,409,846 23 ,002,354 2,140,577,800 2,059,978,414 thqr 58,069,399 5,331,799,575 5,265,934_,965 62,235,581 5,832,749,725 5,619 ,624,889 ear 214632194 19633,970,150 19142,339,184 197206,346 17694,247,800 15319,491,797 Stock exchange operations outside of New York in 1909 were also characterized by somewhat greater activity than in 1908 or 1907. Boston reports dealings of 15,507,303 shares and $32,305,820 bonds, against 13,002,235 shares and $39,828,800 bonds in 1908. In Chicago 1,623,495sharesand$14,800,500bonds were traded in, against 833,943 shares and $15,261,000 bonds the previous year. At Philadelphia the total transactions were 9,627,460 shares and $22,474,235 bonds, against 8,384,977 shares arid $19,739,716 bonds in 1908. Baltimore's transactions reached 399,673 shares and $36,817,470 bonds, comparing with 190,024 shares and $21,784,603 bonds the previous year. Another table we have prepared covers the aggregates of clearings, month by month and quarter by quarter, for the whole country and outside of New York. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1904 __ 14,925,334 14,203,962 15,204,667 24,315,456 68,649,419 [1909 __ 2,906,515 3,172,816 3,181,598 3,696,244 12,957,173 1908 •• 2,680,911 2,734,726 2,803,691 2,890,939 11 ,110,267 Total other 1907 __ 3,410,094 3,502,746 3,259,576 3,154,547 13 ,327 .063 Middle __ _--- -i 1906 __ 3,392,123 3,415,476 3,166,438 3,563,196 13,531,233 11905 __ 2,844,150 3 ,107,080 2,955,868 3,343,722 12.063,820 11904 __ 2,383 .860 2,452,473 2,453,529 3,023,287 10,313, 194 [1909 __ 2,368,358 1908 __ 1,993,691 Total 1907-_ 2,619,964 New England. 1906_. 2,456,S88 jl905 __ 2,108,959 Ll904._ 1,823,408 2,366,296 1,985,220 2,346,523 2,277,983 2,166,457 1,855,803 2,235,148 1,999,174 2,173,489 2,138,411 2,040,844 1,724,455 2,643,516 2,386,106 2,134,607 2,572,452 2,373,469 2,149,955 9 613,318 8 ,364,197 9,274 ,583 9,445,734 8,689 ,729 7,5.53,621 [1909 __ 111108 __ {1907 •• Tota1 Middle west •• jJ906 __ 1905 •• ll904 __ 4,788,990 4,090,625 4,549,767 3,935,899 3,603,571 3,234,262 4,800,625 4,082,140 4,457,819 3,844,656 3,553,411 3,226,923 5,118 ,538 '1,548,444 4,063,140 4,346,612 4,051,192 3,627,978 19,363,399 16,759,475 17,466,639 16,105,808 14,738,126 13 ,285,825 1,057,634 1,170,600 1,231,825 1,389,087 928,382 1,020,146 1, .1 10,518 889,712 1,207,178 1,180,829 1,148,632 976,668 1,025,785 769,997 1,018,472 1,225,383 734,759 816,752 870,357 969,15/l 634,232 628,380 661,988 774,871 4,849,146' 3,94S,758 4,513,607 4,039,637 3,391,024 2,699,471 1,455,375 1,450,752 1,495,087 1,851;,165 1908 •• 1,249,712 1,215,742 1,282,922 1,536,626 Total 1907 __ 1,213,449 1,282,194 1,291,206 1,384,472 Other West ••• 1906 __ 1,035,241 1,012,388 1,028,123 1,275 ,512 1905 __ 899,463 925,623 938,956 1,151.042 842,147 782,080 . 1904 •• 843,551 1,049 ,224 6, 256,379 5,285 ,002 5 ,171 ,321 4,351 ,264 3,915,084 3,517,002 [1909._ 11908_ 1907 - Total Southern.-{1906 __ 11905 __ l1904. _ j 1909._ 4 655,246 4,038,266 4,395,913 3,978,641 3,529,952 3 ,196,662 mos __ 1907 •• Total Pacific. ___ 1906 __ 1905 __ 1904 •• j"°'-- 2,172,893 1,926,68'1 2,126,158 1,974,196 1,699,700 1,762,981 2,037,332 1,719,081 1,955,212 1,790,197 1,670,575 1,148,075 2,039,435 1,754,425 1,901,694 1,694,366 1,.597,465 1,412.180 2,731,066 2 ,2fi5,079 2,107 ,298 2,291,453 2,052,865 1,917,290 8 ,980,726 7 ,665 .269 8,090,352 7,750,212 7,020,60.5 6,540,526 [1909 __ 37,874,864 29,926 ,324 1908._ 1907 __ 41,504,514 Total all. ____ ••• 1906 __ 41,802,732 Hl05 •• 35,401 .435 1904 __ 25,562,772 40,809,468 30,484,974 36,189,727 38,358,426 35,590,212 24,611,087 40,468,274 32,358 ,666 34 ,463,766 :!7,295,025 32,636,158 25 ,537,093 46,456,273 39,638,885 32,867,726 42,451,534 40,199,643 36,848,061 14,986,786 12,673,706 H,818,171 13,202,940 12,290,058 10,406,9?5 14,983,718 12,732,981 14,231,284 12,890,466 11,956,901 10,332,425 17,433,616 14,947,303 13, 21,054 15,274,608 13,941,446 12,5~2.896 165,608,879 132,408,849 145,025,733 159,905,717 143,827,448 112,559,013 I 62,020,141 53,132 ,968 57,843,565 55,229,888 50,005,388 43,!l09,594 ! l ! [1909 •• 1908 •• Outside 1907 __ New York •••• 190fL. l l905-. 1904 • • 14,t316,021 12,778,978 14,973,056 13,862,874 ll,816,9S3 10,637,438 Canadian bank clearings were also much greater in 1909 than in 1908, and furthermore recorded important gains over 1907 and 1906. For the thirteen cities of the Dominion from which comparative figures are obtainable the aggregate clearings in 1909 were $5,190,311,946, against $4,142,094,351 in 1908, or an increase of 25 .3 % ; contrasted with 1907 the gain reached 20.0%. All of the cities shared in the in- LISTINGS ON NEW YORK STOCK EXCHANGE. crease over 1909 with the percentages of gain most conspicuous at Vancouver and Calgary. It is also to be noted that transactions on the Stock Exchanges in Canada were larger in 1909 than in 1908 or 1907. The record of Canadian clearings by quarters for the last six years is given below. CtearlTl,{ls RPported Ffrsl Quarter . (000.~ omitte,t.) $ Second Quarter. Third Quarter. Fourth Quatrer. $ $ $ Total Year. ---- - - - ---- ---- f1909 __ 1,081,893 1,227,097 1,245,681 1,635,641 903,074 952.520 1.014,090 1.272.410 11908_ 1907 __ 1.070,924 1,087.591 1,162.154 Canada --------n9o6 __ 1.gg~:gg~ 927,913 942,762 1,171,516 748,629 795,590 826,346 959,557 l19os__ 1904 __ 581,072 647,123 678,171 836,719 $ 5,190,312 4,142.094 4,324,678 3,949,797 3,330,122 2,743,085 LISTINGS ON NEW YORK STOCK EXCHANGE DURING THE YEAR 1909. The listings on the New York Stock Exchange during the calendar year just closed bear striking testimony to the extent of the revival of credit that has swept over the country m reaction from the. previous period of uncertainty and depression Not 1 only is the total amount Qf the listings for the year of stocks and bonds of all classes far m excess . of the total for any previous year, excepting only the year 1901, during which the share capital of the great Steel Corporation was listed, but the additions to the list on account of new capital aggregate for the first time somewhat more ($9,988,000) than one thousand million dollars. This amount is larger than the total of any earlier year, eve-n after allowing for the issues of stock of the St. Paul and Northern Pacific, together aggregating 191 millions, which were paid up m installments m an interval of two years, and:are only now listed. Following is our usual 10-year comparison: LISTINGS ON NEW YORK STOCK EXCHANGE . Issues/or Ne:wl Old Issues Capital, &c. Nuw Listed. Bonds. 90(1 908 907 1906 905 904 903 902 901 900 - 909 908 907 906 905 - --- --- ----------- -- -- ---- - - - - ----- ---- - - ---- - ------- - -- - - -- --- - ----- X --- - -- -- ------- - -- - - - _- - - - - - - - - __ - - - - - - - - - - ------ - - - a -- -- -- --- -- --- ---____ __- - _- - _- - _ -- _ -- - - - ----- - - -- --- Stocks. ---- - ------------_____ - - - - - - - - - . - - __ _-- ____ - - __ __ --___ _______ _______ _ ____________ . ____ _ 904 903 902 901 -----------------___ __ - _- - - - - - - - - - __ __ ___ _____ _____ _ ___ ______ ____ ____ : 900 ---- - -- - ---------- Replacing Old Secutties. Total. 5 $ . 712,734,963 648,869,500 246,733,914 303,112,000 569,079 ,000 429,810,500 191,515,050 lll7 .516,313 2:..0, 1 ., 700 147,678,v,,7 8,479,000 95,794,000 72,362,000 12,304,500 20,000,000 _____ -- -- _ 12,798,000 2,878,000 21,270,100 6,287,000 377,742,537 1,098,956,500 128,294,500 872,958,000 101,717,086 420,813,000 256,482,000 X 571,898,500 890,947,650 980,026,650 105,269,100 535,079,600 376,975;750 581,288,800 333,124,987 a 533,,519,300 681,568,300 923,010,100 289,747,403 443,713 ,000 297,253,037 123,977,900 159,106,244 237,479,600 125,123,300 120,635,050 172,944,200 251,069,400 429,537,450 296,550.572 363,701,600 248,780,200 321,056,300 16,440,700 99,889,200 664,571,448 1,325,52/i,085 141,169,350 513,927,450 95,869,506 576,032,050 408,849,150 662,769,450 308,422,400 533,434,900 55,231,750 175.866,800 215,154,4951426,890,295 521,500.~95 784.032,595 1,136,385,665 1,642,013,715 194,179,428 620,935,000 38,791,600 11,462,300 76,090,600 130,205 .000 Note.-Appl!catlons for the listing of Trust Company receipts and or securities 1 ~~~e~:~:~.~~SS~P.E[~a~~:f~ihe~e~~~fri!~ t:!~~Jivi;·h~~l~~c;i;~~t~~~1;~~:~ lsted-are not Included In this table. a Not lncludlng Sl,155,000,000 Imperial Russian State 4% certificates of rente. x Excludes $425,000,000 Japanese Government bonds: STOCKS. BONDS. Y ear . Railroad. I Street Ry. Miscell. Ra-ilroad. Street Ry . $ s s m :m:888 a139940 000 411,792,650 174,925,100 258,487,800 x86,127,300 190,683,100 157,410,000 i~i:m:~88 248,186,550 176,922,800 120,915,550 226,015,400 390,388,340 284,584,515 381,205,200 I I Miscell. s 1909 ___ 770,500,700 37,339,000 291,116,800 742,508,115 14,002,500 569,015,470 ~m === 1906 1905 1904 1903 1902 1901 1900 ~i~:i~t88& ___ 305,727,500 --- 538,584,000 --- 343,036,500 ___ 270,759 ,000 ___ 434,612,000 ___ 667,006,000 ___ 269 ,303,000 ~~:m:888 126,231,000 29,650,000 17,118,000 52,042,000 12,780,000 65,321,000 17,000,000 26:m:~88 :m:~g~:~ig 188,210,100 ,226,372,800 58,274,400 298,237,700 -------- 1 54,951,250 200,874,895 54,479,850 ,339,164,405 62,000,000 21295429200 16,806,500i222,923,300 -r------ a:Exclud[ng S425.000,000 JapanE>Se Government bonds. x Omitting Russian bonds, Sl,155, 000, 000 z Includes United States Steel $1,018,688,000 . The second of these tables shows the large preponderance of railroad securities m the listings of the year , a result contributed to by all of the capital transactions that a restoration of confidence and activity inspire, namely , the raising of funds for new undertakings and addit ions , the funding of floating debts, the refunding of mat uring bonds, the retirement of shortterm notes the exchange of convertible bonds for https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 35 stock, the completion of consolidations and amalgamations, &c. The passing of the Unlisted Department has also brought to the regular list such wellknown but previously modest and retiring stock issues as the shares of the sugar, lead and woolen combinations, Smelters Securities, Republic Iron & Steel Co., &c. The financial operations of the Union PacificSouthern Pacific System, as disclosed by the listings now under consideration, easily outstrip in magnitude and variety the record for the year of any other company. They embrace (1) for extensions, additions and improvements, U. P. first lien and ref. 4s, 30 millions; S. P. Co. convertible 4s, over 81¾ millions; So. Pac. RR. first refunding 4s, 13 1-3 millions; (2) for refunding So. Pac. RR. first refunding 4s, 13 millions; (3) for conversion of bonds into stock, U. P: common stock, 20¼ millions; (4) for conversion of preferred stock into common stock, S. P. Co.common, 13½ millions; (5) for extension at 4% of the Utah & Northern division first 7s of the Oregon Short Line RR., $4,991,000. The completion or approaching completion of important extensions to the Pacific Coast is called to mind by the listing of 27½ millions of the new first and refunding 4s of the Denver & Rio Grande (largely on account of its Western Pacific Division) and of 28 millions of debenture 4s of the St . Paul, the last-named company having issued also 25 millions of general 4s, nearly half of these to refund bonds bearing a high rate of interest. A complete statement of the new accessions to the bond list, including alike railroad, electric railway and miscellaneous issues, and the purposes for which each was made, is embraced in the following: LISTINGS OF RAILROAD BONDS. Company and Title of Loan- Amount. Purpose of Issue. Atch. Top. & S. Fe conv. 4s,'09$25,297 ,ooo __ Subscr. by stockholders at 104 Atl. Coast Line RR. 1st cons.4s 5,ooo,ooo __ Acquisitions & improvements Atlantic & Danville 2d 4s__ ___ 750,000 __ Retlre preferred stock. B. & O .-P.L.E.&W.Va.,ref.4s 1,045,000 __ Retire under)ylng bonds.1 do do 10,868,000 __ Improvements. Buff. Roch. & Pitts. cons. 4 ½s 645,000 __ Retire old securities. g~~!~~ g~~~~ii':~~i~nii~p~5s do do do do do do general 4 ½ s- do Coal Riv.Ry.1st gu.4s Chic. & Alton-50 year ref. 3s_ Chic. Burl. & Quincy gen. 4s __ do do do do do do Chic. & E. Ill. ref. & imp. 4s__ Chic. Ind.& So. 50-yr. guar. 4s Ch.Ind.& Lou.-I.& L.lst gu.4s Ch . Mil. & St . P. 25-yr. deb. 4s do do gen. 4s, Ser. A do do do Chic. & North West. gen. 3 ½sdo do do Man. Gr. B. & N. W. 1st guar . 3½s _____ do M.&S.L.lst gu. 3 ½sChi. R. I. & Pac.Ry, refund'g 4s do do do do Chi c. R. I. & Pacific RR. 4s___ Chi c. St. P. M. & 0. consol. 6s_ do do Chic. & West. Indiana cons. 4s_ do do Col. & South. ref. & ext. 4 ½ sCuba RR . 1st 50-year 5s_ _____ Del. & Hud. 1st & ref. 4s_____ Den10 & Ri~OGran.lst & ref. 5s Dul. Mlssabe & Nor. gen . 5s___ do do 1 i~1~st~ ~\:dli~~tf!fc1~/k Gt. Nor.-St. P.M.&M.cons. 4s H o uston Belt & Term. 1st 5s__ Illlnois Central refunding 4s ___ do purch. lines 1st 3 ½sIowa Central 1st & ref. 4s_____ Kanawha & Mich. 20-yr. 2d 5s_ K. C. Ft. S. & Mero. gu. ref. 4s do do Kan. City Sou . ref. & imp. 5s__ do do Lehigh Valley gen. consol. 4s__ do do Lou. & Jeff. Br. 1st guar. 4s ___ do do Louisv. & Nashv. unif. 50-yr.4s do do do Atl. Knox. & C.div.4s Mich. Central 20-year deb. 4s __ Minn.&St.L.lst & ref. 50-yr.4s_ do do Minn.St.P. &S.S.M.lst cons. 5s_ do do Mo. Kan. & Tex. general 4 ½ s_ do do 1st & ref. 4s_ Mo.P.-coll.40-yr.4 % loan •45_ do St. L. I. M. & So.R. & G. divs. 1st 4s __ s.588:888::k~R~~v6e%ego\~at:su~g~;~t. ' 1,500,000 __Retire equipment obligations. 1,500,000 __ General purposes. 840,000 __second main track, &c. 2,250,000 __ construction of road. 8,000,000 __ Extensions & Improvements. 13,724,000 __ Acquire Col. & So. com. stock 276,000 __ Retire old 7s. 6,000,000 __ constructlon &Improvements. 6,307 ,ooo __ Exchange old bonds. 3,467,000 __ Additions and improvements. 15,150,000 __ Acquis'n & construe. of road. 1,112,ooo __ Constructlon of road. 28,000,000 __ Constr.of bran., imp. & equip 12,357,000 __ Retire old bonds . 12,808,000 __ New lines, 2d track & equip't. 5,964,000 __ Retire old bonds. 4,036,000--Imp'ts, additions & equipm't. 3,750,000}-Construction of road. 2,500,000 3,500,000 __ Additions and improvements . 1,494,000 __ Refunding old bonds. 220,ooo __ Retiring equipment bonds. 150,000 __ Exch . C.R. I. & P. Ry. stock 89,000 __ Exchange old bonds. 140,000 __ construction of road. 12,271,000 __ Improvements and additions. 254,000 __ Retire general mortgage bds. 983,000 __ lmp'ts & secur's subsld . cos. 957,000 __ Extenslons & Improvements. 230,000 __ Acquire Troy & New Eng.RR 2l:m:888=J~~i~~~~~ti~~~';°dsM~gds. 5,331,000 __ Extenslons, imp'ts & equlp't. 3,943,000--Retire old consols. 1 ·m:88L~!I~~s~~~sb~:i~ov. & equip 5,167,000 __ Excllange old 6s . 2,225,ooo __ Acquire prop . , constr. & imp 20,000,ooo __ Additions and improvements. 12,000,ooo __ purchase & improv. of road. 850,000 __ Add'ns, improv'ts & equipm't 2,500,000 __ Additions and equipment. 231,000 __ Improvements & equipment. 166,000 __ Ret ire old bonds . 5,100,ooo __ Ret ire coll. notes July 1909. 4,900,000_ -Improvements. 1,100,ooo __ car tr. pay'ts & stk. pur . bds. 1,900,000 __ Retire old bonds . 500,000 __ Qld bonds just listed. 1,000,ooo __ Improvements & e quipment. 14,614,000 __ Acquis'ns, lmprov., equip,&c. 3,586,000 __ Retire old bonds . 245,000 __ New properties, equipm't, &c 7,634,000 __ Acct.constr.tunn.underDet.R 1,015,000 __ Retire old bonds. 3 50,000 __ Improv ements. 1,000,000 _ _construct 50 mlles of road . 5,ooo __ Retire old bonds. 3,170,000 __ Retire equip. notes, imp.&e 4,810,000 __ Equip't, acquis'ns & impro 4,255,000 __ Improvements & extensions 485,000 __ !mprovements & additions. 36 Compan11 and TUle of Loan- LISTINGS ON NEW YORK STOCK EXCHANGE. Amount. Purpose of Issue . been listed. The exchange in the Atchison's case was stimulated by the desire to participate in the right to subscribe for the new convertible bond issue. The Pennsylvania RR. also in November last granted to the holders of its stock the privilege of subscribing for new securities (25% in new capital stock), and in consequence its convertible bond holders in large numbers made haste to present their bonds for conversion into stock; the conversions for the year have caused an increase of over 75 millions in the amount of Pennsylvania stock listed. Another case in which bonds have been turned into stock is afforded by the American Telephone & Telegraph Co., more than 75½ fg1g~~a';~ millions of its stock having been issued and listed for this purpose during the last twelve months. Instances of this kind are unquestionably the best evidence of the 0 ~1~n ~:~~~!hi~~t t~:r~-4~~=: 2t :~gg ;ggg ==~~~::s1g:in& 1~~ar%vements. confidence which prevailed in financial circles. Va. & S. W. 1st cons. 50-yr. 4s_ 4 ,570,000 __ Acquis'ns, imp'ts & equipm't. \\Tab.RR.1st ref.& ext.50-yr.4s . 3,669,000 __ Retire equip. bonds, debs . ,&c New bond issues made in order to take up short-term Wash. Term . 1st 40-yr. gu. 4s_ 2,000,000 __Construction of terminal. Western Maryland 1st 4s_ ___ __ 7 ,225,000 __ Additions & improvements. notes will be noted under the captions of the ChesaWisconsin Central 1st gen. 4s__ 46,000 __ Improvements. do Sup . &D.div.& ter.lst 4s 7,500,000 __ Construction of road. peake & Ohio and Kansas City Southern railways and do do 1st & ref . 4s_ _ 2,500,000 __ Acct. extension to Duluth and Superior, equipment, &c. the Telephone (31 millions), Rubber and Agricultural Total _________________ $770,500,700 Chemical companies. Refu nding operations of signifiLISTINGS OF ELECTRIC RAILWAY BONDS. cance have been arranged for, not only by the St. Paul Company and Title of Loan- Amount. Purpose of Issue. Interb . R. T. (N . Y .) 45-yr . 5s_$1l ,655,000 __ Retire outstanding gold notes. and Southern Pacific, but by the Chicago Burlington Met.St.Ry.of N.Y.ref.100-yr.4s 186,000 __Retire old bonds. . New Orl. Ry.& Lt.Co.gen.4 ½s. 3,543,000 __ Improv'ts,fl.oating debt, &c. & Quincy, the North West., the St. Louis & San do do 323,000 __ Retire underlying bonds . Mllw.El.Ry.&Lt.ref. & ext.4 ½s 4,967 ,ooo __ Float.debt,improv'ts& equip. do do 1,500,000 __ Retire old bonds. Francisco and the Southern Ry. Indeed, with the Tri-City Ry. & Light Co. coll. trust 1st lien 5s ___________ _ 7,367,000 __ Improv'ts, extensions, &c. aid of Speyer & Co., the St. Louis & San Francisco 621,000 __ Exchange old bonds. do do United Rys.of St.L.lst gen. 4s_ 1,500,000 __ Retire old securities. (which near the end of the year changed hands) placed Wash. WaterP.lst ref.30-yr. 5s_ 1,000 ,ooo __ Additions and improvements 4,677 ,ooo __ Retire notes &con.M. &col. tr. 5s 36 millions of bonds for funding or refunding purposes do do Total ____________________ $37 ,339 ,000 and 11 millions for improvements, vastly improving its LISTINGS OF MISCELLANEOUS BONDS. financial status. The Southern Ry., besides listing 18 Company and Title of LoanAmount. Purpose of Issue. !~!~~11_~~~~~go~ts\O lo~~~· g: 8~588 :888= =:::i~~·ou1~[}~irnrf~t:~•- &c. millions of bonds for refunding, has sold and listed 5 Amer. Telep. & Teleg. conv. 4s 25,000,000 __ Retire 3-year notes. millions for branches, &c. do do 6,000,000 __ Retire West T. & T. notes. do do 11,612,000 __ Acquisltions. Other notable listings of issues for improvements, Armour & Co. real estate 1st 30-year 4 ½s ___________ ___ 30,000,000 __ Pay fl.oat.debt&work.capital. additions, &c., are the 20 millions of Illinois Central 4s Bklyn. Union Gas 1st cons. 5s_ 4,5oo __ Retire old bonds. 1 BushdJermig;- Coci~oi~-5-s-= = i:m:888= =x~~~,Y~;;J~£Y::i:~~:.e:t~: (with 12 millions of old "purchased lines" 3½s only now do do 371,000 __ Retire old bonds. placed in the list), 14½ millions Louisville & Nashville City of N . Y. 4% corp. stock __ 60,000,000 __ Various municipal purposes . do 4% assess't bds. 1918 2,500,000 __Street improvements. unified mtge. 4s, 10 millions Norfolk & Western 4s, g~~1!.&r~iu~1!~-~-f~fci~!l::9 f:i~8:888==8~~:~r1ai;p~!~go, Ill., &c. Det. Edison Co.1st &coll.tr.5s_ 7,979,000 __ Qld bonfs just listed. 12 millions Chicago & Western Indiana 4s and 11 Du Pont de Nemours Powder {Retire subsid. bds., pur. Del. Co. 30-year 4 ½s ___________ 14,452,000 Sec.stk.& repur.co.'s pref.stk. millions Baltimore & Ohio 4s. In this category may Inst. for Encour. of Irrig., &c., Wks. in Mexico guar. 4 ,½s __ 25,000,000 __ Irrigation, &c., loans. also be mentioned the 62½ millions of securities of the Keystone Tel. Co. of Phlla.lst5s 1,045,000 __ Extensions, improvements,&c Michigan State Tel. Co. 1st 5s__ 1,700,000 __ Extensions & improvements. City of New York. The amalgamation of the Colorado Mtge.Ed.Co.of N.Y.10-60 yr.4s 2,000,ooo __ Bds .scc . bylstreal est.mtgs. N. Y. Air Brake Co. 1st 6s____ 3,000,000 __ Improvements. & Southern with the Chicago Burl. & Quincy System N. Y. & Riehm. Gas Co. 1st 5s_ 74,000 __ Improvements. Pac.T.& T.Co.lst&coll.30-yr. 5s 20,000,ooo __ Acquisitions, improve'ts, &c. caused an increase of 13¾ millions in the listed "inPocahontas Consol. Coll. 1st 5s 3,237,300 __ Exch.Poc.Coll.sec.& impr'ts. San Paulo(State of) 5% treas.bd 8,355,000 __ General purposes. debtedness of the last-named company, while improveState of N. Y. highway imp . 4s 5,000,000 __ lmprovement of highways. Union Bag & P. Co. 1st 25-yr.5s 861,000 __ Improvements & acquisitions. ments and construction on the Chicago Burlington & U.El.L.&P.Co.ofSt.L.ref.&ext 5s 2,500,000 __ Pay floating debt. do do 3,000,000 __Retire collateral trust notes . U.S.Rubber Co.coll.tr.6s,1918_ 14,000,000 __ Retire notes & B.R.S.deb.bds Quincy added a further 6 millions. . The sole repredo do 1,000,ooo __ General purposes. Va.-Car. Chem. Co . 1st 15-yr.5s 5,ooo,ooo __ Retire old collateral 5s. sentative of the numerous irrigation bond issues floated do do 7 ,000,000 __ Working capital. Westing.E.&Mfg.Co.10-yr.col.5s 2,720,000 __ Pur. securities other cos. in 1909 is seen in the 25 millions of a Mexican company Total ___________________ $291,116,800 brought out by New York bankers. The great Mexican railway reorganization and The several stock issues and the object of each are consolidation, which has been effected with the co- embraced in the following compilation: operation and under the control of the Mexican LISTINGS OF RAILROAD STOCKS. Company and Class of StockAmount. Purpose at-Issue. Government, has led to the listing of about 295 millions Atch. Top. & Santa Fe, stock __ $57 ,27 5 ,000 __ Exchange for convert . bonds. Canadian Pacific, stock_______ 5,112,400 __ Improvements , equipm't, &c. of stock and bonds of the new ational Railways of Chic.Gt.West.com .stk.tr.certs_ 13,604,280) Exch . Chic. Gt. West. Rai'ldo do pref.stk.tr.certs 30,884,798 way securities under plan. Mexico. The first annual report of this company was do do com.stk.tr.certs 31,641,333 Subscribed by old shareholddo pref.stk.tr.certs 10,136,604 ers or syndicate. published in the "Chronicle" for Dec.181909(pages 1601, Chic.doMilwaukee & St. P., preL 66,214,400 Subscrbed by stockholders at do do common ____ 33,241,100 par. 1674). The Chicago & Great Western, Cincinnati Cleve.&Pitts.4%sp.gu.better't_ 583,750 __ Improvements & equipment. Del. Lack. & Western, stock__ 4,077,000 __ l5%stk.div.&mer.2 subs.cos. Hamilton & Dayton, Seaboard Air Line and W esteril Dul. So. Shore & Atl., common 12,000,000} Old stock just listed. do do 10,000,000 Maryland railways have also been reorganized during Minn. St. P. & S.S. M., pref__ 2,016,000{ Subscir ,!),t par, $3,362 ,000 to do do common__ 4,032,000 pur.maJ.W.C.com.stk.and $2,686,000 improv'ts & equip't. the year, but, with the exception of some 86 millions do 4% lsd . line stk. certs __ ll,039,300 __ Exch. for Wis. Cent. pref.stk. Pac. (new co.), stock_ 83,044 ,400 __ Exchange stocks old cos. of voting trust certificates of the Chicago Great Western Missouri Nat.Rys.of Mex.n.-c.4% 1st pf. 28,830,200 __ Exch. Nat. RR. of Mex. stock n.-c.5% 2d.pf_l23,835,600 __ Exch. Mex. C. & Nat.RR.sec. their new securities, stocks or bonds, or both, have N. Y.doN. H.do& Hartord, stock_ 1,590,500 __ Eliminate grade crossings. Northern Pacific, stock _______ 92,898,000 __ Subscr. by stockholders at par not yet been listed. Pennsylvania RR., stock _____ 79,141,950 __ Exch. for conv. bonds, &c. Ft. W. & Chic. ,guar .spec__ 1 , 552,800 __ Improvements & eq ulpment. Like the Union Pacific System, the Atchison has Pitts. Rock Island Co., common____ 263,7001 Exchange Chicago Rock Isl'd do do preferred __ 184,600J & Pacific Ry. stock. both issued and listed new convertible bonds ($25,- Southern Pacific, common____ 13,520 ,500 __ Exchanged for preferred stock do common____ 694,900 __ Exchange So. Pao. RR. stock. 297,000 in amount) for additions and improvements TexasdoCentral, preferred ______ 1,324,500} Old stock just listed. do common____ 2,649,300 and has had a large amount (no less than57millions) UniondoPacific, common__ _____ 20,204 ,ooo __ Exchanged for convert . bonds. Wabash RR., common__ _____ 457,600} Exchange debenture "A' and of its old convertible bonds surrendered for exchange do do preferred___ 457,600 "B" bonds. Total ___________________ $742,508,115 for a like sum of new common stock, which has also Nat. Rys. of Mex. pr. lien 4 ½ s-$70,294,962 __ Exch. Mexican Central bonds do do 6,000,000 __ Mexlcan Govt. acct. guar.,&c do do 10,000,ooo __ Sold for cash under plan. do do 2,930,038 __ Improvements & equipment do do guar. gen. 4s 38,565,075 __ Exchange Mex. Cent. bonds . do do 2,450,000 __ Mexican Cent. acct., guar.,&c do do 6,750,000 __ Sold for cash under plan. do do 4,980,225 __ Improvements & equipment. N.Y.Chic.& St.L.25-yr. deb. 4s 5,000,000 __ Equlpment & improvements. N.Y.N.H.& H . conv. deb. 6s__ 7,474,900 __ Subscr. at par by stockholders Norl. & W. Div.1st lien&gen.4s 10,000,000 __ construc., improv'ts & equip. Oregon RR. & Nav. cons. 4s__ 1,898,000 __ construction of road. do do 3,000 __ Retire old bonds. Ore.Short L.-U.&N.lst 4s ext. 4,991,000 __ Qld bonds extended. Pere Marquette refunding 4s_ _ 6 ,230,000 __ Retire underl'g bds . ,notes, &c. do do 6,000,000 __ Improv'ts, equipment, &c. Phll1ppine Ry. 1st 30-year 4s__ 1,575,000 __ Constructlon of road. St.L.& S.F.gen.ilen 1. 55-20 yrs 10,000,ooo __ Improvements. do do 36,052,000 __ Retire old bds. & equip.oblig. do do refunding 4s 1,000,000 __ Additions & improvements. do do 22,ooo __ Retire underlying bonds. St. Louis Southwestern cons. 4s 55,000 __ Retire second mtge. incomes. do do 1,295,000 __ Betterments & improvements South & Nor. Ala. cons. gu. 5s_ 4 ,327,000 __ Retire bonds due 1903. Sou.Pac.Co.20-yr.conv 4s.1929_ 81,814,000 __ Subscr. by stockholders for extensions, improvem'ts,&c Sout~~rn P8;i~ftc RR. 1st ref. 4s a:m:888= =~!rti~~\~~s 0 & equ't Southern Ry. 1st cons. 5s_____ 2,186,000 __ Retire Charl. Col. & Aug .lst5s do do dev.&gen.4s_ 16,ooo,ooo __ Retlrecoliateraltrust5s . do do 5,000,000 __ Branches, exten. , imp'ts, &c. do do 333,000 __ cost Tallulah F. Ry. lstM.bds https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 0 BUILDING OPERATIONS-MERCA~ TILE FAILURES. LISTINGS OF MISCELLAN EOUS STOCKS. Company and Class of Stock- American Beet Sugar Co ., preL do do do do common ____ American Ice Securities, stock_ American Malt Corp., common. do do preferred_ __ Amer . Smelt. Secur. Cos., B. Amer. Sugar Refin. Co. , com __ do do preferred ___ Amer . Tel. & Tel. Co., stock __ American Woolen Co ., preL ___ ao do do do common __ __ Batopllas Mining Co., stock___ Butterick Co., stock__________ Consolidation Coal Co . , stock__ do do Detroit Edison Co_________ _ _ DuPont de Nem.Pow.Co.,preL General Chemical Co., pref____ Mergenthaler Lino. Co., stock_ Mexican Telegraph Co. , stock__ National Lead Co., preL _____ do do common ____ do do preferred_ __ National Surety Co ., stock____ New York Air Brake , stock ___ N. Y. &N.J.Teleph.Co.,stock Pacific Tel. & Tel. Co., common do do preferred ___ People's Gas Light & Coke Co. of Chicago, stock __________ Phelps,_Dodge & Co., stock ___ Republlc Iron & Steel Co., com. do do do do preferred____ So.PortoRicoSug.Co.,8% preL (also exch. convert. bonds)__ do do common____ Tennessee Copper Co., stock__ United Dry Goods Cos., preL_ do do common____ do do do United Fruit Co. , stock_______ 'Jtah Copper Co., stock_______ do do Westing.El.& Mfg.Co.,assenting Amount. 1,973,l00 __Subscr.bystockholdersatpar 44,988,600 __ Exch. stocks cos . acquired. 27,352,000 } Old stock just !isted. 20,852,000 4,148,000 __ Subscr. at par (improv's, &c . 3,288,500} Acquisition of subsidiary com3,271,000 panies and improvmeents. 5,000,000 __ Olcl stock just listed. 10,000,000 __ Sold to acquire 4 properties. 1,350,000 __ Sold for cash at par. 9,791,600 __ Exch. stock. Assoc. Merch.Co 2,134,000 __ 10% extra dividend. 6,750 ,ooo __ Old stock just listed. 585,250 __ Exchange convertible bonds. 2,833,850 __ Pay debts&subscr.underplan. Total __ _________________ $569,015,470 LISTINGS OF ELECTRIC RAILWAY STOCKS. Company and Class of Stock- Amount . BUILDING OPERATIONS. 1909. 1908. I nc. or $ $ Dec. Purpose of Issue. $910,000 __ Improvements. 4,090,000} Old stock just listed. 15,000,000 2,500 __ Exch. American Ice securities. 100,600} Exchange for stocks of Ameri30,100 can Malt Co. 30,000,000 __ Old stock just listed. 45,000,000} Old stock just listed. 45,000,000 75,639,550 __ Exchange convertible bonds . 5,000,000 __ Sold for working capital. 35 ,000,000} Old stock just listed. 29,501,100 8,929,920 __ Exch . stocks 6 controlled cos. 2,541,000 __ Exch. Ridgway Co. stock. 6,150,000 __60% stock dividend. 2,626,000 {Furch. minority stks.Fairm't and Somerset Coal cos. 5,000,000 __0ld stock just listed. 13,692,900 __ 0ld stock just listed. 1,500,000 __ Add itions and improvements. 1,785,700 __ Acquire control foreign cos. 750,000 _ _25 % stock dividend. 20,713,600} Old stocks just listed. 20,750,000 3,750,000 __ Acquire Magnus Metal Co . 250,000 __ 50 % stock dividend. 10,000,ooo __ Old stock just listed. 4,984,600 __ Subscribed by stockholders . . 18,000,000 } Acquire properties or constit18,000,000 uent companies. Purpose of Issue. Brunsw. Term. &Ry.Sec.Co.,stk. $5,000 ,ooo __ Exch.Br.Dk. & Imp. stock. 8,000,000 __ Old stock just listed. do do 1,000,ooo __ Subscrlbed by stockholders. United Rys. of St. Louis, preL 2,500 __ Acct.acquis.St.L.& Sub.Ry. Nor. Ohio Trac. & Lt. Co., stk_ New York CityManhattan _________ 144,332,212 Other Boroughs _____ l22,716,314 RECORD BUILDING OPERATIONS IN 1909. A marked impetus was given to building construetion in the United States in 1909 by the decidedly improved and generally satisfactory conditions that prevailed in mercantile and financial circles-an impetus that carried the contemplated outlay under contracts entered into in 184 cities to near the 1,000 million dollar mark, a total never before even closely approached. Lack of space precludes our giving the details of the building operations, but we subjoin a table showing the results for four years for some of the leading cities in each section of the country, together with_the totals for the remaining cities and the aggregate for the whole 184 municipalities. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 95,516,177 78,641,442 Total 184 clties _____ _976,753,633 708,702 ,0 4 Outside ew York ___ 709,705,107 533,944 ,465 1907. $ 1906. :s +51.1 91,723,799 126,075,565 +56. 1 105,894,916 114,988,893 Total ____________ 267,048,526 174,757,619 +52 .2 Buffalo _______________ 10,077,365 7,030,126 +43 .3 Rochester------ ------ 9,272,132 4,973 ,317 +86.4 Newark-------------- 14,177,159 7,161,668 +97.9 Philadelphia---------- 42,881,370 28,408 ,580 +50.9 Pittsburgh ___ ______ ___ 16,549,526 13 ,244, 147 +25.0 Baltimore------------ 7 ,913,296 6,374,653 +24.1 Other Middle, 34 cities_ 55 ,602,493 38,775,603 +43.4 Boston -------------- 14,078,646 11,253,712 +25.1 Hartford _____________ 3,440,925 3,107,348 +10.7 Other N. E., 32 cities __ 63 ,833,480 43,800,466 +45.7 Chicago-------------- 98,559,300 67,234,800 +46.6 Cincinnati____________ 7,802,954 6,428,988 +21.4 Cleveland ------------ 12,481,214 9,761.869 +27.9 3,400,273 +5.9 Columbus ------------ 3,598,601 Indianapolis---------- 7,156,560 5,905,929 +21.2 De~rolt _______________ 14,301,450 10,682,170 +33.9 Milwaukee ____________ 11 ,587,551 10,065,666 +15 .1 0th . Mid. West,27citles 25 ,344,911 21,595,905 +17.3 9,975,000 +33 .0 Los Angeles ___________ 13,260,703 Oakland______________ 5,318,112 6,320,562 -15.6 Portland- - --- - ------- 13 ,366 ,580 10,405,151 +28.4 San Francisco _________ 28,540,288 31,673,341 -9.9 Seattle ----------- - -- 19,044,335 13,777,329 +38.2 Spokane _______ _______ 8,766,2!.U:l 5,927,538 +47 .9 Other Pacific, 11 cities_ 25,586,904 19,516,438 +23.7 Denver ____________ ___ 11,554.983 10,098.020 +14.4 Kansas City---------- 13,368.738 10,562,041 + 26.6 St. Louis _____________ 23,783,272 21,190,369 +12.2 Mlnneapulfs ________ ___ rn,092,410 10,09:{,915 +29.7 St. PauL _____ ___ _____ 12,089.451 7,625,Ia5 +58 .5 Omaha --------- - ---- 7.204.140 4,590,650 +56.9 Other West, 21 cities ___ 27,893 .260 17,551,587 +58.9 Atlanta-------------- 5,551,951 4,833,941 +14.8 New Orleans __ ________ 5,165,512 5,744,3ll -10 .1 Washington __________ 13,720,593 9,153 .403 +49 .9 Richmond ___________ 3,574,812 3.1 69,431 +12. 8 2,68 ,304 +15 .2 Loulsvflle ------------ 3,096,876 Oklahoma------ -- ---- 5,903,270 1,734,948 + 240 .3 2,306,098 + 47 .1 Dallas --------------- 3,393,683 Memphis----- - ------- 4,324,377 3,300,508 +31.0 Other South., 23 cities_ 30,656,69 24,501,2 5 +25.1 197,618,715 241,064,458 8,567,328 8,668,030 6,752,615 6,175,499 9,546,725 10,411,328 36,352,075 40,7ll,510 14,809,586 17,952,161 6,439,580 8,6ll,708 43,590,344 41,814,585 15,071,419 •15,000,000 4,054,335 3,732,915 47,663,147 43,554,577 59,093,080 64,822,030 7,737,062 7,101,866 15,888,407 12,972,974 4,188,295 4,006,175 5,953,726 5,530,972 14,223,300 13,275,250 11,795,620 9,713,284 21,397,634 21,915 ,213 13,851,154 18,502,466 8,243,983 7,690,195 9,446,982 6,902,032 56,578,844 34,927,396 13,572,770 ll,920,488 5,778,876 3,701,859 18,315,773 16,710,470 6,349,604 7,000 ,996 9,611,922 10,765,4 0 21,893, 167 29 ,938,693 10,006,485 9,466,150 9,750,000 9,537,449 4,536,643 4,273,0 °0 17,371,300 16,803,795 4,554,771 5 ,156,149 4,710,523 5,563 ,437 13,166,166 12,101,876 •2,500,000 *2,800 ,000 3,032,548 5,11 6, 917 2,61 6,650 1,343 ,000 2,248,070 *2,200,000 4,957,997 4,346,767 25,242,300 25,9 8 ,760 + 37.8 789,169,521 29,791,960 + 32.9 591,550,806 5 8, 727 ,502 * Estimated. The building construction returns for a number of Canadian cities have also been secured and are given below. Total ____________________ $14,002,500 The bright prospects existing in 1909 gave rise to the offering to shareholders for subscription of new stocks, together aggregating more than 237 millions, by the Canadian Pacific, North Western, New York Central, New York New Haven & Hartford and the Pennsylvania; but no part of this amount figures in the year's listings, although the subscription receipts of the New York & New Haven and the Pennsylvania RR., respectively 25% and 30% paid in, are being dealt in on the Exchange. The conversions, however, already mentioned have added to the list new stock to a total of about 2:30 millions. The transfer of the control of the Wisconsin Central to the Canadian Pacific interests is markeJ by the listing of the new stock and 4% leased line certificates of the Minneapolis St Paul & Sault Ste. Marie. The Missouri Pacific has put in operation its plan for a new bond issue providing for its capital requirements for many years to come, but as yet the 83 millions of stock issued for old shares in the preliminary merger of the parent company with its subsidiaries have alone been listed. The important dry goods amalgamation has already found a place in the list, as also the Phelps, Dodge & Co. copper merger. 37 . CANADIAN BUILDING OPERATIONS. Toronto 18,200,000 Winnipeg _____________ 9.226,325 Halifax _________ ___ __ 626,474 Svdney 160,470 St. John, N. 8 ________ 385,700 Montreal _____________ 7,783,565 Bmntford _________ ___ 439,235 F ort William __________ 2,960,370 Hamilton _____________ 1,571,100 L ondon ______________ 851,154 0 tawa ______________ 4,527,590 P etcrboro ____________ 344,5 9 rn8,500 S ratforrl M 1ose Jaw _____ _______ 593 ,910 R J!il18 - - - - - - - - - - -- 744,459 C tlga ry -______________ 2,420,452 Edmonton - - - - - -- - - - - 2,124.~66 Vancouver _______ _____ 6,992,356 13,156,652 5,444,650 820,465 67,015 275,450 5,062,326 289,855 1,560,735 1,448,357 458,980 1,794,075 236,98::l 139,700 431,525 516,646 830,950 2,549, 847 5,950,923 Inc . OT Der. . +38 .3 +69.5 -23.7 +l:J9.4 +40.0 +53.8 +51.9 + 9 .7 + 8 .5 +85 .7 +152 .3 +45 .7 +la.5 +37.6 +44.l +191.3 -16.7 +17 .5 Total, 18 .cltles ______ 60,110,415 * Estimated. 41.035,134 +46.5 1909, 0 1908. 1907. 1906. 14,225,800 6,309,950 665,455 13,160,398 12,625,950 735 ,175 8,406,829 8,639 ,388 74S, 733 2,761,385 779.070 •2,000,000 1,745,220 2,280,210 5,622,744 •1.000,000 1,868,069 4,30 ,410 42,766,326 45,ll 6,4 ·o FAILURES IN 1909. The _signal recovery in 1909 from the condition of depression and stress that characterized our com mercial and industrial affairs during most of 1908 is further clearly reflected in the record of failures for the year. It does not follow, of course, that a relatively normal basis of solvency has been returned to as regards number of failures or amount of liabilities, but that the crisis in our affairs that the fall of 1907 brought has been safely passed. Monetary spasms such as that of 1907 leave an after-effect that only time can fully efface; otherwise the failure record of 1909, comparatively reassuring as it is, would have been more favorable. By that we mean that a fair proportion of the commercial disasters of the last year was made up of concerns that weathered the difficulties of the two preceding years but were so weakened financially that they finally had to succumb. In referring to the recent commercial and financial crisis the fall of 1907 is usually given as its beginning; but even before the panic that then occurred had begun to exert its baneful influence, there was evidence of stress in business circles. In fact, as early as June 1907 there was a notable increase in the volume of insolvencies, and from that time down to near the close. of the following year the record of failures, I month by month, both as regards number and the ndebtedness represented thereby, was much above MERCANTILE FAILURES. 38 the normal, and for the full year 1908 the number of failures made a new high record of insolvencies. Moreover, the aggregate of liabilities for that year exceeded those for any twelvemonth period back to 1896, heing in turn surpassed only four times since 1874. While that was the situation taking 1908 as an entirety, there was evidence of improvement in our affairs in the closing months of that year, the volume of liabilities represented by failures appreciably shrinking, although the number of disasters continued large. The opening quarter of 1909, although making a very satisfactory comparison with the like period of 1903, disclosed a condition quite less favorable than the average of earlier yenrs, a noticeable feature being the preponderance of small tradesmen forced to the wall. In the second quarter, also, the situation was quite similar, but there was a decided decline in the number of failures. By.July, however, the commercial horizon had cleared perceptibly antl from that time on the monthly records of disasters conformed quite nearly to what might be termed a normal basis of insolvencies. At the same time the total number cf failed firms and the aggregate liabilities for the year, while much below those for either 1908 or 1907, are greater than for either 1906, 1905 or 1904. T 1e total number of failures in 1909, according to Me~sr::; . R. G. Dun & Co.'s compilations, was 12,924, against 15,690 in 1908 and 11,725 in 1907. The aggregate liabilities for 1909 at $154,603,46.5, moreover, contrasts with $222,315,684 in 1908 and $197,385,22[> in 1907, in each case exhibiting a very import:rn1 d ~cline. But, as intimated above, this year's total i:; above the average of earlier years. Furthermore as going to show the preponderance of comparatively small failures in 1909, the average liability per failure n that year was only $11,954,and therefore much less than in 1908 or 1907, or in the majority of years back to 1875, and consequently below the mean for any extended period. We have remarked above that with the beginning of July 1909 the improvement in the situation became most clearly defined, and the truth of that statement is found in the following, which covers the results by quarters for the last two years . FAlLURES BY QU.4.RTERS . ----190----No. Lia/Jtl-tlies . Average Lia/Jiltty. ----1908---Avera{lt Liablltly No. Lia/Jtl'ities . $44,460.950 44 ,080,423 29.0!H,498 3ti,!J67.594 $11,522 14,787 9.737 11,111 4,909 3,800 3,457 3,524 $75,706,191 48,6ti8,fi42 55,302,ti\JU 42,63 ,161 $15,-1:.l:? 12.808 Total _______ 12,924 $154,603,465 311,954 15,690 $222,315,684 314,170 Flr~t quarter ___ 1-lecnnd " ___ Third " . __ Fourth " ___ 3,850 2,98 1 2,8::16 3,257 15 .!-!V; 12,0!-J\J year, we include them m tlie compilation below as a matter of record. TOTA£ FAILURES. -----Liabtlil'les------Num/JeT-- 1!!09. 1908. Manufacturing ___ 3 ,030 3,827 Trading _________ 9,524 11 ,272 Ot her___________ 370 5!Jl 1909. $64,716,548 69,094,768 20,792,149 1907. 2,913 8,419 393 1908. 1907. $96,829,015 $106,640,444 91,661,957 58,698,148 33,824,712 32,046,633 Total _________ 12 ,924 15,690 11,725 Banking_________ 77 180 132 $154,603,465 3222,315,684 $197,385,225 24,177,128 123,126,956 :!33,325,!!72 Total ________ 13,001 15.870 11.857 . 178,780,593 5345,442,640 $430,711,197 In common with the United States, failures returns for the Dominion of Canada for 1909 reflect improvement in the commercial and industrial situation. For the twelve months of 1909 the disasters numbered only 1,442, covering liabilities of $12,982,800, and comparing with 1,640 and indebtedness of $14,931,970 in 1908 and 1,278 for $13,221,259 in 1907. Debts in manufacturing lines totaled $~,933,938, a 0 ainst $5,976,498 in 1908 and $6,667,452 in 1907; lia bilities of traders were $7,867,287, against $8,242 ,436 in 1908 and $5,756,651 in 1907, and other insolvencies covered obligations of $1,181,575 in 1909, against $712,856 and $797 .156 respectively in the preceding two years. 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 parti ularly attracts attention is the important decrease exhibit d , as compared with the previous year, in the liabilities of each division. While in most branches of the manufact ring industry liabilities were very much less in 1909 than in 1908 , failures in "iron, foundries and nails" were about as great in the debts represented as in 1907. Among traders t e showin g was least favorable in " dry goods and carpets" a d "books and papers." Calendar Year. 1909. From D un's Rei•Lew . No. Manu/naurers. j Lta/Jtlittes. 1907. 1908. No. s Lta/JilUtes. $ No. Lta/Jtlttes. s 62 2,265,673 9,830,888 73 9,367,978 61 Ir n, foundries a nd nails Machinery and tools ____ 8,724,246 196 5,940,697 272 188 19,093,837 24 1.562,168 35 2,323 ,186 30 1,658 ,784 Wool'ns,crpts.&knlt gds 466,224 26 29 3,708,659 16 728,594 Cottons , lace & hoRlery _ 376 8,526,745 522 17,748,169 409 23,623,376 Lumber,carp't'rs&coo p _ 4,826,047 415 7,027,833 Clothing and millinery __ 446 552 5,376,196 Hats, gloves and furs ___ 43 566,677 54 1,181 ,345 70 919,029 Chemicals and drugs ___ 226,523 462,248 25 40 2 724,861 Paints and oils ________ 24 863,570 384,269 31 2,918,321 10 1,709,240 175 2,370,009 163 Printing and engraving_ 233 5,183,040 Milling and bakers _____ 261 2,252,829 2,070,477 308 10,971,875 217 81 1,384,771 1.091,746 82 2,991,578 72 Le ther, shoes & harness 2,462,694 Liquors and tobacco ___ 114 2,092 ,282 102 135 2,126,773 112 4,908,735 148 4,072,583 102 3,449,735 Gl&ss,earthenw .& bricks A ll other _____________ 1,053 18,600, 275 1,316 30,419,293 1.040 28,981,929 Total manuracturlng_ 3,030 64,716,548 3,827 96,829,015 2,913 106,640,444 Traders. General stores _________ 1,512 10,517,353 Groceries, meat and ti.sh 2,344 9,007,008 535 4,186,146 H tels and restaurants_ Liquors and tobacco ___ 959 5,022,048 Clothing and furnishing_ 827 7,621,342 Dry goods and carpets __ 599 8,731,805 358 2,262,294 Sh es, rubbers & trunks 229 2,085,872 Furniture and crockery_ 296 2,985,886 Hard ware.stoves & tools Ch ml<:als and drugs ___ 345 1,598.304 Paints and oils ________ 48 241,054 Jewelry and clocks _____ 2,431,054 263 Books and papers __ ____ 111 90 6,984 Hats, furs and gloves ___ 41 497,714 All other ___ _____ _____ 1,057 10,999,904 1,849 2,708 610 1,089 1,031 667 409 313 398 442 63 314 87 49 1,243 9,426,643 13,808,725 1.367 8,083,231 16,852 ,702 2,312 4,662,009 . 4,608,874 430 3,558,005 5,710,393 813 6,331,513 8,846,786 691 5,429,511 473 7,615,081 1.419,020 254 2,947,443 2,056,531 3,264,891 220 2,768,873 4,131,207 318 2,056,333 304 2,386,954 166,088 48 846,553 1.698,258 182 4,442,987 350,109 673,243 70 333,241 589,160 30 907 10,358,783 14,929,958 Total trading _______ 9,524 69,094,768 11,272 91,661,957 8,419 58,698,148 Passing to a review of the classified statement of Brokers and transporters ~70 20 ,792,149 591 33,824,712 393 32,046,633 failures, welearn that disasters were greatest in trading Banking Total commercial ____ 12,924 154,603,465 15,690 222,315,684 11,725 197,385,225 ______________ llO 24,677,128 188 127,544,943 132 233,325,972 branches, the liabilities in that division totaling $69,084,768, against $91,661,957 in 1908 and $58,698,148 .Note .-Iron. woolens and cottons Include all the branches of those manufactures ; m'.1.ehlner:v lnclu les vehicles, slllnbulld lng, h1.rclwMe , fixtures and Implements ; in 1907. The indebtedness of manufacturers who luml>e r lncluies s'l.w, planing. s!tsh an1 door mills and furniture: clothing Includes chemicals Include chemical fertilizers : printing includes books and were forced to the wall aggregated $64,716,.548, as furnishings: maps : tear.her and shnes tnclu je sairllery. trun',s and rubber goods; liquors Include wines, brnwers and bo ttlers: g\a5s lncluJes pottery, lime, cement, quarry and compared with $96,829,015 in the previous year and stone: general stores Include depar tment stores and Installments ; groceries Include $103,640,444 in 1907, and liabilities in other lines crea mery, teas and coltees; hotels Include lodging houses and caterers: dry goods Incl de curtains and d ra1>~rles: rurnlture lncluJ.es glass and glassware; hardware (which includes brokers, transporters, &c.) totaled Incl des Implements and uten~lls: and Jewelry Includes watches and optical goods. Brokers Include agents , commission men, real P.state agents, Insurance, storage, $20,792,149, against $33,824,712 and $32,046,633 re- exp ess, harbor lines. &c. sp ectively. The following is a record of the yearly aggregate of failures Financial bankruptcies were of course much less in ba k to 1857: YEARLY AGGREGATE OF FAILURES. number than in 1903 or 1907 and covered a very Year. No. Lta/Jilittes . Year. No. Lta/Jtliltes. Year. No. Lta/Jlltlles. __12,924 154,603,465 189L _12,273 $189 .868,638 1873 __ 5,183 3228,499,900 d ~cidedly smaller total of liabilities. It is, moreover, 1909 1908 __ 15,690 222,315,684 1890 __ 10,907 189,856,964 1872 __ 4,069 121,056,000 197,385 .225 1 89 __ 10,882 148,784,357 187L_ 2,915 85 ,252,00 II w ~rthy of note that the 1909 figures do not make a 1907-_ll,725 1906 __ 10,682 119, 20 1.515 1888 __10,679 123,829,973 1870 __ 3,546 88,242,000 very unfavorable comparison with either 1906 or 1905. 1905 __ 11,520 102,616,172 1887 __ 9,634 167,560,944 1869 __ 2,799 75,054,054 63,694,000 1904-_12,199 144,202,311 1886 __ 9,834 114,644,119 1868 __ 2,608 Wt th regard to the embarrassments of financial insti- 1903 __12,069 155,444,185 1885 __ 10,637 124,220,321 1867 __ 2,780 96,666,000 1902 __ 11,615 117,476,769 1884 __ 10,968 226,343,427 1866 __ 1.505 53,783,000 1 utions, it is hardly correct to refer to them as failures, 190 L _ll.002 113,092,376 1883 __ 9,1 84 172,874,172 1865__ 530 17.625,000 1900 __ 10,774 138 ,495,673 1882 __ 6,738 101.547,564 1864__ 520 8,579.000 : s, with rare exceptions, and especially so in 1907 and 1899 __ 9,337 90,879,889 188 L_ 5,582 81.155,932 1863 __ 495 7,899,900 1898 __ 12,186 130, 662.899 18 o __ 4,735 65,752,000 1862 __ 1.652 23.049.ooo J 9J8, they arose through conditions not affecting the 1897 __ 13,351 154,332,071 1879 __ 6,658 98,149,053 186L_ 6,993 207,210,000 __ 15,088 226,096,834 1878 __ 10,478 234,383,132 1860 __ 3,676 79,807.000 soundness of the corporation, and resumption in most 1896 1895 __13 ,197 173,196,000 1877 __ 8,872 190,669,936 1859 __ 3,913 64,394.000 cases quite speedily followed suspension. Still, as 1894 __13,885 172,992,856 1876 __ 9,092 191,117,786 1858 . _ 4,225 95,749,000 1893 __15,242 346,779,939 1875 __ 7,740 201,060,333 1857 __ 4,932 291.750,000 their emb:1rrassment is a part of the history of the 1892 __10,344 114,044,107 1874 __ 5,830 155,239,000 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 39 MERCANTILE FAILURES. MERCANT ILE FAILURES I N THE UN ITED STATES AND CANADA IN 1909. PREPARED BY MESSRS. R. G. DUN & CO. CLASSIFIED FAILURES 1909. COMMERCIAL FAILURES. Total 1909. M anufacturin(J . Total 1908 . States. No. New EnglandMaine _________ - - -- New Hampshire _____ Vermont ___ ________ Massachusetts _______ ConnecUcut ___ ______ Rhode Island _______ Assets. Liabilities. $ $ No. Liabilities. $ - - ----- ------ --- ------ 4,472,377 6,175,987 6,179,740 5,402,917 47 59 33 54 985,526 2,142,327 587 ,885 1,527,528 65,152 ,191 3,804,521 17, 220 ,703 529 64 329 16,760,035 1,675,155 5,283 ,383 838 91 906 12,016,691 986,9 28 7,096,108 93 6 33 13,815,815 35,500 1,860,666 1,499 13,154,485 1908 1907 1906 MiddleNew York _______ ___ New Jersey _________ Pennsylvania _______ ------ - - -- 1,464 161 1,264 26,916,188 1,835,202 8,755,430 41,892,541 2,697,583 1 4,240,157 2,092 189 1,601 37,506,820 58,830,281 43,274,939 86,177,415 62,580,620 103,186,222 19,7.81,074 37,431,694 3,882 86,177,415 ---------- ---- - ---------- ------- - 922 1,336 1,056 803 23,718,573 40,339,690 59,540,976 18,885,502 1,835 2,395 1,684 1,369 20,099,777 25,295,029 17,016,273 12,312,514 2,524,433 177,793 52,957 2,195,751 558,148 1,308,135 58,591 1,697,969 2,877,973 7,618,334 1,136.924 1,379,935 3,172,096 2,415,926 266 24 58 311 150 215 78 226 435 275 138 159 380 254 4,117,020 73,417 926,199 3,204,468 1,968,000 1,643,412 735,435 3,344,615 6,739,905 2,826,666 1,269,412 3,326,046 5,121,991 3,322,257 81 3 8 37 9 33 1 39 46 21 11 13 62 40 1,567,352 4,200 227,4 17 757,662 83,900 486,353 1,764 901,731 603,873 6,032,278 72,247 98,16.9 1,089,285 1,395,366 142 33 40 232 82 110 12 176 360 207 148 120 339 191 894,315 173,593 471,488. 1,437,465 454,248 817,282 56,827 781,238 2,269,249 1,572,054 1,064,677 1,277,715 1,746,811 941,777 2,630 22,050,571 27,874,965 2,969 33,200,375 38,618,843 2,125 25,232,190 26,298,791 1,879 11,540,705 17,715,886 2,969 38,618,843 13,321,597 2,192 15,511,111 2,421 13,133,588 1,748 5 ,83 5 ,83 5 1,602 2,889 3,882 2,905 2,284 South- ___ ___ _____ Maryland Delaware District of Columbia __ Virginia ___ ____ ___ __ West Virginia ___ ____ North Carolina ______ South Carolina ______ Florida ______ - - - - - - Georgia __________ - Alabama ___________ MisslsslppL ___ ______ Louisiana ____ _______ Tennessee __ - - - _ - - - Kentucky __________ 229 36 53 270 93 144 13 217 407 231 159 134 408 236 .... ----------1908 1907 1906 SouthwestArkansas ____ - - - _ - - Texas MlssourL ___________ Southwest ________ ...... 1908 1907 1906 CentralOhio Indiana __ __ ________ Michigan _______ ____ Illinois ______ _______ Wisconsin ___ ____ ___ .. .... Cen tra L ______ ____ 1908 1907 1906 WestMinnesota ______ ____ Iowa _______________ Nebraska ____ ____ - - Kansas _____________ Oklahoma __________ Montana ___________ North Dakota _______ South Dakota _______ Colorado ___________ Wyoming ___ __ ______ New Mexico _________ ...... West _____ __ - _- - - 1908 1907 1006 1908 1907 1906 .. 1,635,486 134,717 586,017 1 ,453,254 383,968 1,077,056 51,124 1,365,073 2,122,823 7,083,143 819,733 1,067,282 2,219,738 2,051,157 - -- - - --- - - 1,710,981 2,349,714 5,503,574 490 421 705 2,954,377 3,743,819 1,120 1,616 1,089 1,071 6,218,513 6,582,955 4,300,011 4,394,003 9,564,269 10,893,648 7,250,717 6,927,953 1,616 1~.~~~~~~~ 631 398 324 1,063 189 8,381,722 2,884,000 1,911,462 6,140,6 4 6 1,102,888 10,127,198 3 ,143,118 2,613,601 10,170,640 1,505,710 790 366 255 1,142 186 2,605 2,739 1,987 1,957 20,420,718 30,024,43 7 22,285,630 18,501,260 27 , 560,267 42,018,653 26,8 4 6,353 33,076,40 2 2,739 ------ - -- - - ----- - ------ - --------- 213 179 127 204 167 132 34 38 61 16 2,199 ,643 827,4 37 605,716 79 5,084 867,4 92 242 ,4 73 181,472 192, 572 425,203 20,750 130,730 3,4 13,726 1,290,206 1,144,40 5 1,454 ,103 1,047,593 403,372 281,011 247,779 691,43 5 3 4 ,6 52 200 ,112 24 9 2 52 54 31 6 194 129 51 37 95 3 22 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 1,182 1,402 1,212 1,299 6,488,57 2 21,452,0 59 4 ,388,36 5 4,714,756 10.208,394 18,566 ,971 7,0 21,105 7,773,936 1,402 18,566,971 - - --- - ---- - - --- ---------- ------- 24,839 133,8 42 311,74 3 6!'\,023 1,267,693 438,182 1,650,192 21,351 195,866 516,193 86 ,784 2,203,200 1,036,379 4,156, 728 41 80 66 17 377 205 795 2 467,597 466,602 932,599 115 ,8 91 3,837,101 1,328,038 5,773 ,8 41 24,000 1,583 12,885,669 ------- - -- ----- ----------------- -- 11 -- 1,583 1,089 870 ------ -- -------- 3,893,414 6,988,673 5,771,404 2,690,907 8,216,501 12,885,669 10,177,643 4,753,404 ---- -- ---- 404 481 319 244 ---- - ---- - - - - -- 1,337,552 1,499,953 3,381,008 -- - ---- ---- 230 333 557 PacificNeva da ____ ___ __- - 9 Ut ~h- _________ _____ 59 38 Idaho Arizon a ____ 12 272 Was rington _ -= ====== Oregon ____ _________ 229 Ca!Uornia ___ ___ _____ 709 Alaska _____ ________ ---Pacific ______ ___ __ 1,328 .... -- 4,196,252 1 14 22 127 m 236,930 188,365 1,566,853 Liabilities. $ 686 998 905 854 12,348,788 13,154,485 16,604,394 11,522,240 - - Bankin(J . No . $ 6,890,885 4 ,836,171 9,836,769 4,590,795 6,194,399 4,670,887 13,977,42 5 4,987,617 Sout~ $ $ 437 442 380 414 1,170 1,499 1,318 1,322 1908 1907 1906 Liabilities. 37 3 2 1,061,780 29 7,683 116,729 9,073,658 1,822,846 781,789 .... .. No. 551,677 105,642 79,854 2,898,488 532,1 56 304,560 168 66 38 840 27 5 112 Middle _____ ______ Other Commercial. 101 26 17 332 143 67 1,464,556 155,035 119,581 6,943,119 2,351,988 1,314,509 ...." Liabilities. 783,021 49,393 39,727 3,403,70 5 1,755,511 859,528 1,214,275 89,665 66, 428 3,0 52, 9 53 1,132,062 639,016 New England _____ Tradin(J. No. 33 9 20 291 56 28 139 35 37 660 202 97 -- Liabilities. No. 5 129,858 -- ---- - - -------- - -- 640,926 64,321 150,421 132 15,011,981 231 20,542,696 165 26,628,973 112 6,233,678 6 --5 62,766 ----- --- 1 2 1 54,052 624 20,000 4,500 -- -- - ----- 2 1 3 15,000 4,851 14,002 1 ---2 1,400,000 ----- - -- ----- --- 3,247,630 -- ------ ... - 4 4 4 4,947,630 415,000 30,062,53 4 1 300,000 -- ------- - 4 4 ,6 80,942 -- 5 -------- 2,325 ,000 9 7,005,942 47 106,727,868 28 132,806,812 6 10,694,768 -- --- 3 -- 2 -- -- 3 ---- ---- --- - ---------- 1 40,825 ---- - --80,543 ---- -- -- ------71,405 ------ -- -- ---- ---- --- 13,958,739 19,229,962 10,594,182 8,811,390 34 67 58 33 594,629 3,877,770 2,211,026 3,068,661 13 40 18 15 1,073,703 3,740,850 7,817,995 1,766,432 212 308 415 1,467,101 2,048,349 3,874,421 4 3 15 6,950 113,000 62,300 4 3 2 140,000 67,000 147,350 935 ,294 927 923 7,389,871 8,300,236 5,150,339 5,113,875 22 58 27 20 182,250 298,468 151,940 325,999 9 10 19 1 7 5 - - ------ -- 4,051 336,000 78,783 2 2 1 --- - ---- 102,930 653,000 25,000 - - ------- -------- 135 128 1,992,148 2,294,944 1,948,438 1,488,079 8 354,350 1,739,541 28,052,226 585,000 11,805,184 5,215,253 4,529,524 18 ,451,519 2,017,173 190 68 74 287 44 4,844,724 1,827,564 1,035,984 4,326,999 399,637 420 323 242 742 140 3,615,106 1,235 ,258 1,509,270 4,260,792 1,071,653 21 7 8 34 5 1,667,368 80,296 68,347 1,582,849 34,420 5 4 2 3 2 921,670 1,064 ,000 500,000 172, 506 1,065,240 663 764 592 539 12 ,434, 908 17,599,903 17,053,829 11,517,546 1,867 1,878 1'339 1,330 11,692,079 17,964 ,585 8,177,553 7,742,423 75 97 56 88 3,433,280 6,454,165 1,614,971 13,816,433 17 42 21 16 3,733,416 10,656,57 2 3,765,293 5,240,900 49 31 25 31 6 12 4 6 5 2,159,375 662,000 307,896 511,045 66,262 39,995 16,935 107,608 59,181 163 144 98 167 159 120 30 32 56 1 4 4 6 2 84,000 11,300 5,452 10,600 72,893 1 50,000 ---- ------ -- --- ---- ---·--- ----- 11 16 1,170,351 616,906 831,057 932,458 908,438 363,377 264,076 140,171 632,254 34,652 200,112 ------- -- --- ------------------------- - - --- ------ -- 169 219 167 169 3,930,297 11,957,437 1,578,043 1,755,366 996 1,153 1,018 1,102 6,093,852 6,380,627 4,858 ,709 5,699,146 17 30 27 28 184,245 228,907 584,353 319,424 -- -------- 9 55 31 10 172 147 588 21,351 187,116 157,193 73,700 1,015,365 615,976 3,317,422 --- ------------- -- -------- -----42,018,653 .... Tok: United States 12,924 102,773,007 154,603,465 15,690 222,315,684 1908 15,690 146,199,325 222,315,684 ---------- 1907 11,725 138,53 5,645 197,385,225 - - - -- -- -- -1906 10,682 66,610,322 119,201,515 ------- --- - .. - - - - 4 6 1 85 66 111 8,750 358,000 9,965 922,744 360,471 768,210 1 1 15 16 10 1,000 3,119 265,091 59,932 71,096 3 -- -------- -- 357,920 20.000 49,000 -- --------------- 9 25 23 11 2,750,92 0 967,9 42 8,313,335 470,280 3 1,967,638 -- --- 2 1 13 --- -------- --- --- ----- -- -------- -- 2,428,140 4,289, 7 59 3,548 ,8 06 1,601,239 1,012 1,213 798 663 5,388,123 8,315,531 6,361,352 3,103,871 43 49 27 14 400,238 280,379 267,485 48,294 19 20 19 2 3,031 64,716,548 9,524 3,827 96,829,015 11,272 2,913 106,640 .444 8,419 2,490 45,675.362 7,843 69,094,768 91,661,957 58,698,148 48,186,136 370 20,792,1 4 9 591 33,824,712 393 32,046,633 349 25,340,017 ------ -- 2 ,251,000 1 2 273 321 264 193 -- --- - -- -- ---------------------184 ,501 29,000 2,190,028 --- ----------4,371,167 3,297,170 22,507,777 48,000 80 24,677,128 188 127,544,943 132 233,325,972 58 18,805 ,380 CANA DIAN FAILURES I N 1909. Total Provinces . Ontaro ______________________________ Quebec British Columbia ________________ - _- - - Nova Scotia __ _____ _____ _______ ___ __- _ Manitoba ____ _____________ _______ - - - New Brunswick ___ _________________ __ Prince Edward Isla nd ______ ____ _____ - _ N ewfoundlanct ___ ___ ______________ - _- _ Alberta - - --- ---- ------- --------- ---- No. 490 606 41 79 60 77 23 7 59 C ommercial . A ssets. $4,891,487 3,928,544 181,437 186,704 286,112 4 77,598 77,095 20,750 701,227 Liabilities. $4,894,187 5,620,765 207,603 486 ,806 388,063 572,880 167,332 68,100 577,064 -- ------ -----_ _ ___ _____ _ _ _______ ____ - 1,442 -10,348,511 Total 1909 1908 _____________________ __ 1,640 12,008,113 $12,982,800 1 4 ,931,790 1907 _ _ ___ ___ _ ________ - ___ - _ 1906 _ _____ _ - _ - - - - - - - - - - - - - 1905 ___ __ -_ ___ - - - -_ _____________ ----------- -1904 _____ 1903 ____________ _ _ _ ________ 1902 _______________________ 1901 _ _____________ _ ________ 1900 _____________________ _ _ 1899 ___ ___ _ _ ______ ___ ______ 1898 _____________________ __ 1897 _ _ __________________ ___ 1896 _______ ________________ 1895 __ _______ ___ _ __________ 1894 _______________________ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1,278 1,184 1,347 1,246 978 1,101 1,341 1,355 1,287 1,300 1,809 2,118 1,891 1,856 9,443,227 13,221,259 6,499,052 9,085 ,773 6,822,005 9,854,659 8,555,875 11,394,117 4,872,422 7,552,724 7,772,418 10 ,934,777 7,686,823 10,811,671 8,202,898 11,613,208 7,674,673 10,658,675 7,692,024 9,821,323 10,574,529 14,157,498 12,656,837 17,169,683 11,500,242 15,802,989 13,510,056 17,616 ,215 Tradin(l. M anufacturinu. Liabilities . No. ----153 - - $1,702,030 144 17 9 8 14 1 1,901 ,920 55,560 55,000 30,600 127,400 4,000 8 57,427 354 426 393 293 289 307 227 209 289 308 318 303 459 590 441 494 $3,933,938 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 N o. 319 4.60 3 68 52 61 21 7 48 I Liabilities. Other Commercial. No. Liabilities. $2,070,297 3,708,313 141,842 427,606 357,463 438,730 162,582 68,100 492,354 18 2 1 2 1,059 $7,867,287 1,171 8,242,436 5,756,651 847 863 45,145,142 6,552,821 1,0:39 6,577,788 914 725 4,243,543 6,221,017 874 1,029 6,845,329 1,010 7,252,340 950 5, 953,138 7,412,240 964 1,315 9,931,806 1,503 11,381,482 9,788,932 1,439 1,345 11,436,258 29 43 38 28 19 25 26 18 23 37 19 33 35 - - ------ - - - - ----- -- ---- Bankin(J. No. Liabilities. $1,121,860 10,532 10,200 4,200 2 1 6,750 750 3 27,283 $1,181,575 712,856 797,156 458,120 172,576 679,421 265,933 466,03 7 371,247 1,159,203 111,384 180,000 566,557 95,224 25 1 11 141,555 281,572 17 - - -----2 --5 2 6 6 1 6 3 5 5 3 7 6 $2,137 ,2 2 3,672,268 30,749 2,199, 225 269 ,000 600 1,386,971 2,348,000 512,307 154,000 212 ,000 613 ,000 876,8 MONEY MARKET AND NEWYORK C ITY B ANKS.. MONEY RATES FOR FOUR YEARS. We furnish herewith a record of the money rates at New York for the last four years. A review of the money market by months will be found in the "Retrospect of 1909", the first article in this publication. Similar monthly summaries for the other years will be found in previous numbers of the Financial Review. For 1909 we add as a new feature a table showing the range of call loans on the New York Stock Exchange for each day of the year. RATES FOR CALL MONEY AT STOCK EXCHA GE IN NEW YORK DURING 1909 . Day of Month. Jan. F eb. March. April. May. June. July. ~~~ ~}!_:__ _!?_:~ Low High Low High Low High Low High Low High Low High Low High Low High Low__High Low_ High Low High Low High 1 I -~.:_P__:__I__!?~~- ~~3/ Sf. 1 1 i_ ____ _ _ __ 2 ______ ___ 3 ________ _ 4 ____ __ ___ 5 __ ______ _ 6 __ _______ 7 __ ___ ____ _________ Holiday 1¾-2 Saturday l¾-2½ Sunday 2 -2¾ 2 2 -3 -2½ 2 -3 2¾-2½ -2½ I¾-2 l¾-2 Saturday l ¾-2 Sunday Saturday 1¾-2 Sunday l ¾-2¾ 2 l¾-2 1 ½-2 Oi-2 1½-2 l¾-2½ Saturday Saturday 1½-2 l½-2¾ Sunday Sunday l.¾-2 1 ¾-2 2 -2¼ 2½-2~4 l ¾-2 9 _______ __ Saturday 2¼-2½ Sunday 2 -2½ 10 ____ ___ __ 11- __ ___ ___ 12 __ _ __ ___ 13 __ ____ ___ l¾-2 l¾-2 1 ¾-2 14 ________ _ 1 ½-2 15 _____ _ ___ 1 ½-2 2 .¼-2 ½ 1¾-2 1 ¾-2½ 2 -2 ½ Saturday Holiday Sunday Saturda,y l ¾-2 Sunday 1 ½-2 l ½-2 1 ½-2 l ½-2 l ¾-2 1½-2 1 ¾-2 1½-2 Holiday 1 ¾-2 ·1 ¾-2 Saturday Saturday l ¾-2 1 ½-2 Sunday Sunday 1 ¾-2}~ l¾-2 2 -2½ 1 ¾-2 1 ¾-2 Saturday 15 __ _____ __ Saturday 2 -2¾ 1 ¾-2 1 ¾-2 Sunday l ½-2 17 ____ _____ Sunday I ¾-2¾ 1¾- 2 Saturday l¾-2 1 ½-2 18 ___ __ ____ 1½-2 2 -2¼ 1 .¾-2 Sunday 1¾-2 l .¾-2 1¾-2 1¾-2 1 .¾-2 1¾-2 Saturday 19 _____ _ ___ 1 ¾-2 20 __ ____ ___ 1 ¾-2 Saturday Saturday l ¾-2 ½ l ¾-2 Sundal 21- ____ ____ 1 .¾-2 Sunday Sunday l½-2¾ l¾-2 l ½-1 ½ 22 _________ 1 ¾-2 Holiday 1 ½-2 ly8-2¼ Saturday 1½-2 23 _________ Saturday l ¾-2 >i l ¾-2 2- 2½ Sunday l ½-2 24 _________ Sunday l ¾-2 1 %,-2 Saturday 1 ½ -2 1 ½-2 25_ _ _ _ _ _ _ _ _ 1 ½-1 ¾ l ½-,2 1 ¾-2 Sunday 1 ½-2 1 ½-2 26 ____ _____ l ½-1 ¾ 1.¾-2 1 .¾-2 1 ½-2 1 ¾-2 Saturday 27- ________ 1 ½-1.¾ Saturday Saturday 1 ½-2 04-2 Sunday 28 ___ ______ l ½-2 Sunday Sunday 1¼-2 1 ¾-2 l ¾-2 29 ________ _ l¾-2 _______ 1 ½-2 1 -2 Saturday 1 ¾-2 30 ________ _ Saturday _______ 1 ½-2 1 ¾-2 Sunday l ¾-2 31_ ________ Sunday _______ l ¾-2 _______ Holiday _____ __ Range _ _ _ _ _ 1 ½-3 ------ - - - l½-3 1½-2½ 1 -2 .½ 1½-2½ 1¾-2 1¾-2 Sunday 1%,-2 Saturday I½-2 l ½-2 Sunday 1 ½-2 Saturday Holiday I ½-2 Sunday l½-1½ 1½-2 l½-2 l ½-l½ Saturday 1¾-2 l ½-1 ½ Sunday 2 -2¾ l ½-l ½ l ¾-2 ½ 1½-2¾ Saturday 2 -2½ l¾-2 Sunday 2 - 2 ½ Saturday l¾-2 2 ¾-2 ½ Sunday 1 ¾-2 2¾-2½ 1 ½-1 :1/s 1 ¾-2 Saturday 1 ¾-2 1 ½-2 Sunday l l,,2-2% 2 ,!,-, i-2 ½ 3 -4 ½ 3¾-5 2.¼-2 ½ Saturday Holiday 2¾-2 ½ Sunday 3½-4 4½-6 ________ _ I 4 -5 ½ _________ 2 Saturday 3½-4 ½ 3 -4 Sunday 4 -6 3½-4 Holiday 4 -5½ Saturday 2¾-2½ 4½-5 Sunday 2¼-2½ 3 -5 2¾-2½ Saturday 2¾-2½ Sunday Saturday 4 ½-5 Sunday Holiday 2¾-2½ 2½-3 4 4 _5 -5 3¾-5 4½-5½ 4 -5¾ 3 -5¾ 4 -5 ________ _ 3 Saturday _______ __ 4 Sunday ______ ___ 5 4 -5 __ ___ __ __ 6 4½- 5 _____ ____ 7 4½-5 4 -5 4 -5 ______ ___ 8 ___ ______ 9 __ _______ 10 Saturday 4 ½-6 Sunday Saturday 4 -5 Sunday 3 -5 5 -5¾ 4 -5 _____ ____ 11 _________ 12 ______ ___ 13 Saturday 2 ,l,--r:.t½ _____ __ Saturday 4 -5 4 ½-7 Sunday _______ 5 ½-6 ¼ __ __ _____ 14 ____ ____ _ 15 __ __ _____ 16 __ _______ 17 ______ ___ 18 _____ ____ 19 ____ _____ 20 ___ ___ ___ 21 ______ ___ 22 _________ 23 ___ ___ ___ 24 __ _______ 25 ____ ___ __26 __ _______ 27 ___ ___ ___28 ____ _____ 29 ___ _ _____ 30 _________ 31 1½-2 2¼-4 3 _____ Range 2½-3 2½-3 2 - 2½ Saturday 2 ¾-2 ,!,-2 2½-3 Sunday 2¼- 2 ½ Saturday 1 ½-2 2¼- 2 ½ Sunday l ½-2 2 -2½ 2 ¾-3 l .¾-2 Saturday 2 %,-3 l!/4-2 Sunday 2 %,-3 1½-2 2 .¼-2½ 2 ¾-3 Saturday 2¼-2 ½ 2 ~.i-3 Sunday 2 -2 ½ Saturday 1¾-2 2 ¼-2 ½ Sunday l ¾-2 2 ¼-2 ½ 2¾-3 l ¾-2 Saturday 2h-3 1¾-2 Sunday 2.¾-3 1 ¾-2 2¼-2½ 2 74-4 1 ½-2 1 ½-2½ 4¼-5 Saturday 4¼-5 Sunday 4 -5 3¾-4¾ 4 ½ -5 4 -5 3½-5 Saturday - 4 ½ 4 ½-5 Sunday -4½ Saturday 4 ½-5 -4½ Sunday 4 -5 ½ -4½ 4 ½ -5 4½-6 Saturday 4 ½-5 3 -5% Sunday 2 ½ -5 2 ½-5½ 3 ½-4 ½ Holiday Saturday 4 4 3 4 3½-4½ 4 ¾-5 Sunday 4 -4½ Saturday 4.¾-5 ½ 3 -4 Sunday 5 -5% 3 -4 4 -5 5 -5½ -6 2 ½-6 2 ½-7 ------------------------------------ - - - - - - - - - - l\10 EY MARKET AT NE'W YORI{-RATES IN 1909 . TIME LOANS. CA.LL LOANS. Double Four Six Seven Names. Five months. months. months. months. Choice - - - - - - - - - - - - - ~ - - - - - - - - 60 to 90 Min'm. Range. Range. Range. Range. Range. Range. Range. Days. At A.t Stock Exchange. Banks& Tr. Cos. 1909 . TVEEK Ending- Range. Aver. 1½-2 1½-2 1¾-3 2 -2¾ l ~-2 ½ 1 2-2¼ l ½-2½ 1 ½ -2 1%-2 1 ½-2 1¾ 1½ 30 days. ________ l ½-:.t April 92 ________ ]6 ________ 1½-2 23 ________ 1 ¾-2 ~1 May June July Aug. 1 ;!,-4-2 ½ 30 _____ - - - 1 -2 7 ________ 1 ¾-2 ½ 14 ________ l ½-2 21________ l ¾-2 28 ___ ____ _ 1½-2 4 __ _ ____ _ 1 ½-2 IL-- ---- l ½-2 ¾ 18 ________ '1 ½-2 25 ___ _____ 1 ½-2 2 ________ 9 ________ n~-2 1 ½-1 ½ l5 ___ __ ___ 1¾-2 23 ________ 1 ½-2 30 ___ _____ 1 ¾-2 6 __ ______ l ½-2 13 ________ l ;/s-2½ 20 ________ 2 - 2½ 27 _ _ _ _ _ _ _ _ 2 -2½ 3 ________ 2¼ 2½ 2¼ 2 2 1¾ 1 :/s l¾ l ½ 1¾ 2 2¼ l ¾ 2 1¾ l ½ 1¾; 1¾ I¾ l ½ 1½ l ½ 1½ l¾ l½ 1¾ 1¼ l¾ 2~ 2¼ 2¼ 3 4 4~i 4½ 4 4 2½ 2½ 4¾ I¾ l ½ l¾ 1½ l ¾ l½ l ½ 2 2 2¾ 2¼ 2¼ 2¾ 2¾ 4 4 3 - 4¾ - 4½ 4¾ -- 4!/s 5 - Hs 5½ - I I l¾ 1½ 1 %: 1% 2¾-4½ g1-------____ ____ 3 -6 15 ________ 4 -5 22 ____ __ __ 3 -:--4¾ 29 _ _ _ _ _ _ _ _ 3 -4½ Nov. 5 ________ 3 -5 12 ________ 3 -6 19 ________ 4 -5¼ 26 ___ _____ 2 ½-5 3_ :_ ______ 4 -6 Dec. lQ ________ 4 -5 17 __ ___ ___ 3 -5 24 __ ___ ___ 2½-6 31---- -- -- 4½-7 Oct. l ½ l ½ l½ I¾ 1¾ l ¼ l½ 2% 2% 10______ - - - - ___ --17 2.¼-3 24 _______ _ 2¾- 3 l¾ 2¼ l¾ 2¼-2½ 2¼-2½ Sept. l ½ l ½ 1¾ 2 1¾ l ½ l ½ l ½ - - - 60 days. 90 days. I - 1909 WEEK Ending- - - - - - - - - - - - -4½ ____ ____ Jan. 8 15 4½ - --- - --22 4½ - - - --- -29 4½ -4½ ==:== -~==Feb. 5 -4½ --- ----12 19 -4¼ --- - - - --4½ - - - --- -26 -4½ ___ ___ __ Mch. 5 12 -4 ½ - - - - - - - -4 ½ --- - - - -19 26 4½ -4½ ====== == April 2 -9 -4 ½ ---- - - -- 4 ½ - - - - -- -16 23 -4½ - -- - -- -30 -4½ - - - - -- --4 ½ __ ____ __ May 7 -4½ ----- - -14 -4½ -- - - - - -21 28 4½ y4 ====== ==June 4 11 4½ - -- - - - --4½ - --- - - -18 y4 25 2 ½-2¾ 3 3 3 -3¾ 3 -33,,4 3½ 13 ½-3¾ 3½-4 4 2 ½-2¾ 2 ¾' 2 ¾-3 3 3 a3¼-4 3½ 3¾ 4 2 ½-2¾ 2 ¾-3 3 3 3 3¼ 3 ½-3¾ 4 4 2½ 2 ¾-3 3 - 3¼ 3 -3.¼ 3 -3.¼ a3 ~'!l-4 3 ½-3 ¾ 3 ¾-4 4 2 ¾-2 ½ 2 ½-2 ¾ 2 7:\-2 ¾ 2 ¾-3 2~4-3 a3½3% j3 -3¾ 3¼-4 4 2¾-2 ½ 2½ 2 ½-2%: 2 ½-2~4 2 ¾ 2%: ,3¼-3 ½ 3½-4 4 3 3 2 ½ 2 ½-2 ¾ 2 ¾-3 13½-4 3 3¾-4 3 3 2¾-2½ 2 ½-2 ¾ 2 ½-2 ¾ x3½ 13 ½-3 ¾ 3½-4 4 2¾ 2¾-3 2 ¾-3 a3 ½3 ¾ '1 3 ½-3 ¾ 3 ½-4 4 2.¼ 2½ 4 2¼ 2¼ 2 ½-2¾ 2¾-3 2 ¾-3 -3½3¾-4 2¾-2 ½ 2½ 2 ½-2¾ 2 ½-2 ¾ 2 ¾-3 3 -3 3 ¼~ 33 ½-3 ¾ 3½-4 4 2 ¼-2 ½ 2 ½ -2%, 2 ¾ 2¾ 2 ¾-3 b3½3 ¾ 13 ¼-3 ¾ 3 ½ -4 4 2.¾-3 2¼-2½ 2 ½-2¾ 2 ¾ 2 ¾: b3 ½3 ¾ 13 ½-3 ¾ 3 ½-4 4 2 ¾-3 3 3 4 2½ 3¼ 3 ½ '1 3.¼-3 ¾ 3 ½-4 2¼-2½ 2½ 2¾-3 2¾-3 3 -3¾ b3 ½3 ¾1.3 .¼-3 ½ 3 ½-4 4 2 - 2¾ 2¼-2½ 2 ½-2¾ 2 ¾-3 3 -3¼ 3 ½-3 ¾ :3 -3½ 3½-4 2 - 2¼ 2 ½-2¾ 3 -3¾ 3 -3¾ b3 ½ 3 ¾ 3 - 3 ½ 3¾-4 2½ 2¼-2 3,,2 2 ½-2¾ 2 ¾-3 3 -3¾ 3¼-3 ½ b3 ½-4 3 -3½ 3¾-4 2¾-2½ 2½-2¾ 3 3¼-3½ 3½ b3 ¾-4 3 - 3 ½ 3½-4 4 2¼-2½ 2 ½-2 ¾ 2%-3 3 -3¼ 3¾-3 ½ b3 ½-4 3 - 3 ½ 3 ½-3 ¾ 2 -2¼ 2¾-2½ 2¾- 3 2 ¾-3 3¼-3 ½ b3 ½3 ¾ 3 -3 ½ 3 ½-4 4 -4½ ====== == July • 2 2 2 ¾-27'2 2 ½-2¾ 3 b3.¼3½ 3 -3½ 3½-3¾ y4 9 2 2 ¼-2 ½ 2 ½-2¾ 3 3.¼-3 ½ 3 ½ 3 - 3 ½ 3½-3¾ y4 16 - - - - - - -2 3 3¾-3 ½ 3 ½ 3 -3 ¼ 3 ½-3 ¾ y4 23 2 ¼ 2 ½-2¾ 2¼ 2 ½ 2 ¾-3 3 -3.¼ 3%-3 ¾ 3 ¾-4 3½-3¾ 4¾-4½ ====== == 30 3 3½ 3¾-4 3¾-4 4 4 -4¼ 4¾-4½ ___ _____ Aug. 6 2½ 4 2½-2% 4 4 -4½ 3.¼ 3½ 3¾-3½ 13 - - -- - - -3 3¾ 4 -4¼ 4 -4 ~i 4 -4½ 4¼-4½ 20 3½ - ---- - -2¾-3 3.¼-3½ 3½- 3¾ 3¾-4 3¾-4 4 y4½ 5 27 -------2¾-3 3¼- 3½ 3½-3¾ 3 ¾-4 3¾-4 3¾-4 4 -4½ Y4½ ____ ____Sept. 3 4 4 4 3¼-3½ 3 4 4¼-4~~ 4½-5 10 - - -- -- -3½-3¾ 3¾-4 4¼-4½ 4¾-5 4.¼ 4¼ 4¾-4 ½ 17 - ------ 4 4¾-5 4¾-5 4¾-5 4 -4½ 4~i-5 3¾ -- _____ -- - - - ___ - -- Oct. 24 3½-3¾ 3¾-4 4 - 4¼ 4 -4¼ 4.¼ 1 Hi 4 -4½ 4¾-5 4 ½-4 ¾ 4 ½-4¾ 4 ½ -4 ¾ 4 ½-4 ¾ 4½ 4 ½-4¾ 4¾-5¼ 8 --- - - - -4¾-5 4¾-,5 4 .½ 5 5 -5¼ 5½-6 4½ 15 - - -- - -5 -5.¼ 5½-6 22 4½ 4½ 4½ 4½ 4½ -- - - - - - 4 ¾-5 4 ¾-5 4¾-5 4¾-5 5 -5½ 5 -,5½ 4~i-5 - ·-- - ·- 29 4 i2-4 ¾ 4 ½-4 ~4 4 ½-4¾ 4 ½-4¾ 4 ½-4% 4¾-5¼ 5 -5½ 5½-6 _____ ___Nov. 5 y5 5¼ 5 -5¾ 4 ¾-5 4 ¾-5 4¾-5 12 5 -5½ 5½-6 -- -----y5 19 4 ¾-5>i 4¾-5 4½-4~4 4 ½-4 ¾ 4½-4 % 5½ 6 -6½ 26 4 ¾-5 4¾- 5 4½-4¾ 4½-4¾ 4 ½-4 ?1 -- { 5 -5½ -5¾ 5¾-5½ 5½--6 6 -6 ½----5¾-6 _____ ___Dec. 3 4 .¾-5 4 ¾ 4½-4% 4}/z-4¾ 4 3,-z-4% 5 -5 ½ 5 .¼-5 ½ 5 ½-6 ________ 4¾-5 10 4¾ 4½-4% 4½-4¾ 4 ½ -4 % 4½-4¾ 4½-4% 4¼-4½ 4¼-4½ 4¾-4½ f4 ½ 17 5 -5¼ 5 -5½ 5~1-6 -------24 4½-4~i 4),-f-4% 4¾-4½ 4¾-4H 4¼-4 ½ 14¾-5 ¼ 4¾-5 ¼ 5 ½-5¾ - - --- - - 4½-4¾ 31 4½ 4¾ 4¼ 4 .¼ 4¾-5¾ 4½-4¾ 5 -.5½ -------- a This is quotation for all the year. b This is quotation for o ver-the-year. ; . to 9 months. 11 This 1s minimum rate. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Single Names. Prime Good 4 to 6 4 to 6 Month.~. Months. - -- - - - - - - - -- ----- - - - - - - - -- - - 3 ½-4 2½-2¾ 2 ½-2¾ 3 - 3¼ 3¾-3½ 3¼-3½ 3.¾-4 4 4 4 -4½ 2½-2¾ 274 2% 3¼-3½ 3 -3½ 2½ 2¾-3 3 -3¼ 3 -3¼ 3¼-3½ 3½-3¾ 4 3 2 3 a3 -3 ½ 3 ¼-3 ¾ 3 ½-4 2 -274 2¼-2½ 2¾-3 ' 2½-2¼ 2½ 2½-2¾,2}~-2¾ 3 a3¼3½ 3¾-3½ 3½-4 4 -- --g _______ _ - - - -2¼ Jan. ]5 ________ 1½- 3 l ½ 1 ½-2 1½ 1¾ 22 ________ 29 __ _ _____ 5 ________ Feb. 12 ___ _____ 19 ___ __ ___ 26 ________ 5 ________ Mch. 12 ________ 19 ________ 26 ________ COMMERC'L PAPER. 1 f This quotation i for l 2 'mont hs. x This is quotation for 8 NEW YORK MONEY MARKET. 41 MONEY MARKET AT NEW YORK-RATES IN 1908. TIME LOANS. CALL LOANS. COMMERC'L PAPER. DoubleAt 90 Four Five Six Seven Names. Single Names. 1908. 30 60 days. Months. Months. Months. Months. _ _ _ ,_ _ _ _ _ _ , Trust days. days. WEEK Good WEEK Choice Prime Cos. EndingEnding- , _ _ _ _ _ _ _ ,____ ,____ - - - - - - - - - - - - - - - - - - - - - 60 to 90 4 to 6 4 to 6 Range. Aver. Min'm. Min'm. Range. Range. Range. Range. Range. Range. Range. Days. Months. Months. 1908. At At Stock Exchange. Banks. -~---,---- - - ------ - ------------ -----10 10 7 7 6 Jan. 3x __ 5 -20 10 ___ 17- -24 ___ 31_ __ 7 ___ Feb. 14 ___ 21_ __ 28 ___ Mch. 6 ___ 13 ___ 20 ___ 27 --April 3 ___ 10 ___ 17 _ -24 ___ l_ __ May 2 -9 2½-6 1½-3 l½-2 l¾-2 1¾-2 l½-2¼ 1½-2 l¾-2 1¾-2 l¾-2 1¾-2¼ 1 -2 1.½-2 1¼-2 1½-2 1¾-2 8 ___ l½-2 15 ___ 1½-2 22 ___ 1 -1¾ 29 ___ 1½-1¾ June 5_ -- 1¼-1¾ 12 ___ 1½-1¾ 19 ___ 1¼-1¾ 26 ___ 1 -1¾ 3 ___ l -1~ July 10 ___ 1 -172 17 __ _ 1 -1½ 24 ___ 1 -1½ 31_ __ 1 -1¼ Aug . 7 ___ ¾-1¼ 14 ___ 1 -1¼ 21_ __ ¾-1¼ 28 ___ ¾-1¼ Sept. 4 ___ 1 -1¼ 11 ___ 1 -2½ 18_ -- 1 -2 25_ '__ l -1½ 2 ___ 1¼-2 Oct. 9 ___ 1 -1.½ 16 ___ 1 -2 23 ___ 1 -1¾ 30 ___ 1 -2 Nov. 6 ___ l½-2 13 ___ 1 -3 20 ___ l½-2 27 ___ 1½-2 4 ___ 1 -3 Dec. 11_ __ 1½-2½ 18 ___ 2 -4½ 25 ___ 2½-3½ 31_ __ 2½-3½ * Trust companies 10 4 3 2¾ 4 3 6 4 2 1½ 1.½ 1¾ 1½ 1½ 1¾ * *2 1½ 1½ 1¼ 1¾ 1¾ 1~ 1½ 1½ 1½ 2 2 * 2 2 2 1~ 11/s 1¾ 1.½ 1¾ 1½ 1¾ 1¾ 1½ 1¼ 1½ 1¾ 1½ 1½ 1 1.½ 1¼ 1½ 1¼ 1 1¾ 1 1 1 1 ¾ 1 ¾ rn 11/s 1½ 11/s 1½ 1½ 1½ 1¾ 1¾ 1¼ 1¼ 1 1¼ 1 1¼ 1 1¼ 1½ 1¾ 1¾ 1¾ 1¾ 1½ 1½ 1 1½ 1¼ 1½ 1½ ¾ 1 1 1 1 1¾ 1 1 1 1 1½ 1 1.½ 1½ 1~ 1¾ 1½ 1¼ 1½ 1.½ 1.½ 1¾ 1¾ 1~ 1¾ 1 2¼ 2¼ 1.½ 2 3.½ 2½ 3¾ 2½ 3¼ out of market on * 1¾ 1 1 1 1 1 1 1 1 1 1 1 1 1¼ 1 1 1 1 1½ 1 1.½ 1½ 1 1½ 4 3 -3½ 3¾ 2¾-3 :2 -2¼ l - 2 1½ 11/s - = --- ------ ----- 8 8 6½ 6 6 6 6 6¾-7½ 6¾-7½ 5¾-5½ 5¾-5½ 5¼-5½ 5½-6 6½-7 6½-7 7½ 4½ 4½ 5 v 5½ 6 -6_½ 6½-7 4 3 -3½ 3 -3½ 4½ 4½ 5½-6 5½-6 6 -6½ 3½ 4 -4¼ 4¼-4½ 4½-4¾ 4½-4¾ 5¼-5½ 5½-6 3¾-4 4¼ 4½ 4½-4¾ 4½-4¾ 5¾-5½ 5¼-6 6+ 4 -4¼ 4½ 4½-4¾ 4¾-5 4¾-5 - ,t 4½-5 5 -5½ 5½-6 4¾ 472-4¾ 472-4¾ 4½-5 5 -5½ 5½-6 4 4 3½ 3¾ 4 4¾ 4¾-472 5½-6 5½-6 3½-3¾ 3½-3¾ 3¾-4 4½ 5½-6 5½-6 3¼-372 3½-4 3¾-4 3¾-4 4¼-4½ 5½-6 5½-6 3 3¼ 372-4 4 -4¼ 4 -4¼ 5½-6 5½-6 3 3¼-3½ 3¾-4 4 4 5 -5¼ 5½ 2¾-3 3 372-3¾ 4 4 4½-5 4½-5 4½-5½ 2½ 2¾-3 3½-3¾ 3¾-4 3¾-4 4½-4¾ 4 -4½ 5 -5½ 2½ 3 3½-3¾ 372-3¾ 4½-4¾ 4 -4½ 5 -5½ 5½-6 2 -2¾ 2¼-2½ 2½-3 3 -3¾ 3.½-3¾ 3½-3¾ 4½-4¾ 4 -4½ 4 -4½ 4½-5 2½ 2¾-3 3¼ 3¾-4 3¾-4 4 -4½ 4 -4½ 2½ 2¾-3 3 -3¾ 3½ 3½-3¾ 4½-4¾ 3½-4 \.,.., 4 -4½ 2½-2¾ 3 3¾ 3½ 3½-3¾ 4 -472 3 ¾-4 3¾-4 4 -4½ 2½ 2¾-3 3 -3¾ 3½ 3½-3¾ 4¼-4½ 3¾-4 3¾-4 4 -4½ 2½ 2¾ 2¾ 3½ 4Ys-4¾ 3¾-i 4 4½-5 2 -2¼ 2 -2¼ 2¼-2½ 2½-2¾ 3 -3¼ 3½ 4 -4¼ 372-3¾ 4 -4½ 4½-5 1¾-2 2 -2¾ 2½-2¾ 3 -3¼ 3½ 3¾-4 3½ 3½-4 4½ 3½ 3¾-4 3½ 3½-4½ 4½ 2 -2¼ 2¼-2½ 3 -3¾ 3 -3¼ l¾-2 2 -2¼ 2¾ 3 -3¾ 3½ 3¾-4 3½-4 3½-4 4½ 1¾ 2 2½-3 2½-3 3½ 3½-4 3½-4 4 -4½ 1¾-2 2 -2¾ 3 -3¼ 3 -3¾ 3¾ 3½-4 3½-4 4~-5 2¾-2½ 2.½-3 3¾-3½ 3½-3¾ 3¾-4 3½-4 3½-4 472-5 2 2¼-2½ 3¾-3½ 3½ 3¾-4 3½-4 4 -4¾ 3½ 3½-4 3¾-4 3½ 3½-4 4 -4½ 2 -2¾ 2½-3 2 2½ 3¾ 3½-3¾ 3¾-4 3 -3¼ 3 -3½ 4 -4½ 2 2½ 3 -3¾ 3½-3¾ 3¾-4 3¾-4 4 -4½ 4½ + 2½ 3 3¾-372 3¾-3½ 3¾-4 4¾-4½ 4½-5 2 1¾-2 2 -2¾ 2¾-3 3 -3½ 3½-3¾ 372-4 4 -4½ 4½-5 2 -2¾ 2½ 3¾ 3¼-3½ 3¾-372 3¾-4 3¾-4½ 4½-5 2½ 2¾ 3 -3½ 3¾ 3¾ 4 4 -4½ 4½-5 2½ 2¾-3 3½ 3½-3¾ 3½-3¾ 4 4½ 2¼-2½ 272-2¾ 3¾ 3'½ 3½ 4 4 -4½ 2¼-2½ 2½-2¾ 3 -3¾ 3½-3¾ 3½-3¾ 4 4 -4½ 2~-3 3¼-372 3¼-372 3½-4_ 3½-4 4 4½ 2¾-3 3¼-3½ 3¾-3½ 3½ 3½ 4 -4½ 4½-5 2¾-3 3 3¼ 3½-3¾ 3½-3¾ 4 4 -4.½ 3 -3¾ 3¼-3.½ 3½ . 3¾ 3¾ 4 -4½ 4½-5 3¾-3½ 3½-3¾ 4 4 4 4 -4½ 4½ 3 3¼ 3½ 3½-3¾ 3¾ 4 4½ 2~-3 3 3¼. 3½ 372 -3~ 3½-3¾ 4 -4½ - =~~ rn=~~ rn rn - 3 ~ ~¾=~¾ ~~j 3¾ 3¼ 3¼-3½ 3½-3¾ 3¾ 3¾ 3¾-4 4 3½ 3.½ 3½ 3.½ 3¾ 3¾-4 4 2½ 13¾-4 2½ 3 3 -3¼ 3 -3¼ 3¼ 3½-4 3½-4 3¾ account of low rates. x Covers only the portion of the week falling m 1908. 2 2 ! I j~ rn + -4.½ 4.½-5 -4½ 4½-5 4 4½-5 __ xJan. ------- 10 3 :::Dec. --___ --- 1f 18 25 31 17 24 31 ___ Feb. 7 --14 --21 28 ==:Mch. 6 --13 --20 --27 ___ April 3 --10 --17 --24 ___ May 1 --8 ___ 15 22 --29 ___ June 5 --12 --19 --26 ___ July 3 10 --17 --24 31 ___ Aug. 7 14 --21 28 :::sept. 4 --11 --18 25 :::oct. 2 --9 --16 --23 30 :::Nov. •6 --13 --20 --27 MONEY MARKET AT NEW YORK-RATES IN 1907. 1907. WEEK Ending- Premium on At At Cur- Stock Exchange. Banks& r ency. 30 days. Tr. Cos. I A1,'qe. Min'm. COMMERC'L TIME LOANS. CALL LOANS. 60 day,. II 90 · day,. Seven Four Six Five Months. Months. Months. Months. --------- PAPER. DoubleNames . Single- Names. 1907. Good Choice Prime 4 to 6 60 to 90 4 to 6 Days. Months. Months. WEEK Ending- --- --- --- Range. Range. Range. ____ Jan. 4 -7 '2 -45 -6½6 -6½ 6 -6½ 6 -6½ 6½-7 6½-7 6 6 7 7 15 5 11 6 -6½ 6 -6½ 6½-7 6 6 6 6 6 2 -15 6 3 - -- 18 6 -6½ 6 -6½ 6½-7 6 6 4 6 2 ½-5 5½ 5¾ 2½ --- 25 5¾-6¼ 5¾-6¼ 5 -5¾ 5½ 5½ 6 .½ 4 ½-4¾ 4¾-5 2 -4 2¾ 2¾ -___- -_ Feb. 1 5¾-6¼ 5¾-6¼ 5½-5¾ 5½-5¾ 6½ 2 5¼-5½ 5¼-5½ 5½ 1 %-4 3 5½ 8 5¼-5½ 5¼-5½ 5¾-5½ 5¾-6¾ 5¾-6¼ 6½ 5 2 -6 4¾ 2¾ 2¼ - -- 15 5¾-6¼ 5¾-6¼ 5¼ 5 -5¼ 5¾-5½ 5¼-5½ 5¼ 6½ 2½-6 3 4¾ -- - 5¾-6 5¾-6 5_1.,.1 5¾-5½ 5½ 4 5½ 5½ 6½ 2 -5½ 5 -____ - - - Mch . 22 1 .5¾-6 .5¾-6 5¼-5½ 5½---:5¾ 5½-5¾ 6½ 4 4 -7 5 5¾ 5¼ 8 5½-5¾ 6 -6.¼ 6 -6¾ 6½-7 5¾-6 4 5¾ 5¾ 6 6 3 -6¼ 5½ ---15 6 -6¼ 6 -6¼ 6½-7 6½7 6 6 3½-25 6 8 7 -7½ 6½ 10 ---. 6½ 22 6 -6½ 6 -6½ 6¾-7 6 6 -6½ 6 6 2 -6 4 3 6½ --- 29 6 -6½ 6 -6½ 6¾-7 6 6 6 6 3 2½-14 6 6½ 6 -6½6 -6½ 6¾-7 2 4 ½-5 5 5¼ ====April 5 5¾ 5¼ 1 -4½ 3 12 6 5 5 6 6½ 2 2 4¾-4½ 4¼-4 ½ 4½-4¾ 4½-4¾ 1½-2½ - --5¾-6 6 -6½ - - - 19 5¾-6 5 3½-4 3½-4 4 -4½ 4 -4½ 5 2 1¾-3 2¼ 26 5½-6 5½-6 4 4½4¾ 4¾-5 4¾-5 6½ -4¼ 5½ 3 ½ 1¾-2¾ 2¼ 1¾ -____ -- - May 5½-6 3 5½-6 6 4 4½ 4½ 3 ,-4 1 -4 3½ 1¾ 2¼ 10 5½-6 4 5½ 5½ 4½ 2%' 4¼ 4¼ 2 -3 3¾ --- 2½ 17 5½-6 5½ 5½ 4 2 3 ¾-4 4 Y~¾ 4 ½-4¾ 4½-4¾ - -- 2 -3 2½ 24 5½-6 5½ 5½ 2 3 -3½ 3 ¾-4 4 -4¾ 4¾ 4 ½-4 ¾ 4 ½-4¾ 1½-2½ 2¼ - -- 4 5¾-5½ 5 -5½ 5 -5½ 5½ 4½ 4¾ 2½-3 3½ 3¾-4 1¾-2 ½ 1 ¾ 1½ -___ - - -_June 31 7 5 -5½ 6 5 4½ 4½-5 4 ½-5 4½-5 5½ 2 l¼-2 ½ l ½a 3 -3½3 -3½ l·L ___ 14 6½ 2 4 -4¼ 4 ½ 3 ½-4 4-¾ 5½-5¾ 5½-5¾ 5½-6 5½-6 l¾-3½ 2½ 3¾ ---2L ___ 21 5½-6 5¾-6 6 -6½ - - - 5½ 4 5½ 5½ 4½ 4½ 4½-5 3 2½ 2¼-3¾ 28 5½-6 6 -6½ - - - 5¼-5½ 5½-5¾ 5¾-6 5½ 5 2 -12 4¼-4 ½ 4½-4¾ 5 2½ z.5~____ ---5½-6 5 6 -6½ ____ July 5¼-5½ 5½ 5 5¾ 3½-16 8 3½ 4J.i-4½ 4½-4¾ July 12 ____ 12 5½-6 6 6 6 -6½ - -- 5¼-5½ 5½-5¾ 5½-5¾ 2½-8 5 2½ 6 19 ___ _ 19 5½-6 6 6½ 5 5¼-5½ 5¾ 5¾ 2½-4 2½ 4½ 4½-4¾ 3¼ - --2(i ____ 26 5½-6 6 6 5¾-5½ 5½-5¾ 6½ 4 4¼-4½ 5 2½ 2 -2½b 2 -3 -- - __ __ 6 6 -6½ 6½plus ____ Aug. 2 6 -6¼ 6 -6¾ 5¾ 2 -3½ 3 2½ 5 5½ Aug. 92 ____ 6 6 -6½ 6½plus --- 9 6½-7 6½-7 4 5 5 -6 6 6¾ 2½ 2 -6 16 6 -6½ 6 -6½ 6½plus - 6 -6½ 6½ 6½- 6¾ 6¾-7 6¾-7 2¾-5 2¼ 3 16_ - - 23 ____ 23 6½-7 6 -6½ 6 -6½ 6 ½ plus - -- 7 2a 6¾-7 7 6 1¾-3 6½ 2¼ 30 ____ 6½-7 30 6½ 6 -6½6 -6½ 6 ½-7 6½-7 6½ 5 2½-4 3 2½ 5½ 6½-7 6½-7 7 -7½ ====sept. 6 6 6 6 5½-6 6 2¼-4 3 2½ 5¼ Sept. 6---13 ____ 6½-7 6½-7 7 -7½ 13 6 6 6 5½ 2 -6½ 5 2½ 5 5½ 20 ____ 20 6½-7 6½-7 6 7 plus - -- 6 4 6 5¾ 2 -5 2½ 5 5½ 27- __ 27 7 7 7 plus 6 6 5¾-6 6 4 2½ 5½ 1 -6 4 7 7 3 5¾-6 6 -6½ 6 -6½6 -6½6 -6½ 5 ====Oct. 3 -10 Oct. 4 ____ 1 L ___ 11 d7 d7 d7 -7½ - 6}~ 6 6 3 6 -6½ 6½-7 2½-6 5 18 ____ d7 d7 -7½ d7 ½ pl - -- 18 6 6 6 3 6 6 6½ 2¾-10 5 25 ____ 25 c6 c6 d7 -7½ d7 -7½ c6½-7 c6½-7 c6½-7 c6 6 40 5 -125 --No business - - - ::::Nov. 1 12 -16 12 -16 No business e 50 Nov . L ___ l -3 3 -75 12 -15 d7- 7½ d7 -7½ 8 e No husiness 22 g_ 1 -4 4 -25 15 ____ 2½-4 5 -15 d7 -7½ d7 -7½ 15 12- 15 12 -15 No business e 10 - 22 ____ 1½-3½ 3½-15 --No business No business 22 12 -15 12 -15 e 10 - 29 ____ ¾-1¾ 3 -12 29 12 -15 No business 8 8 e 7 e 6 No regis. rates; all business subject to speci al agree ment. 6 Dec. 6 ____ ½-2 3 -13 13 ____ ½-1½2 -25 7 -8 dB dB 13 e 8 18 8 -10 8 -10 20 ____ ½ -1¼6 -17 dB d8 20 6 -7 12 10 8 12 e 15.- 18 27 ____ ¼ -1¼6 -25 27 dB d8 10 -12 7 ½-8 12 20 e g31 8 8 17 e 12 10 10 6 31JY--- t Ys- ¾5 -20 ------~ --a Trus companies not in the market, rates being too low. o Lower rate at banks only; trust companies put out no money at that figure. c Nominal rates; no o"ferings. d Quot.ations entirely nominal; no business. e Banks and trust companies out-of the market. f The premium on currency prac ticall y disappeared with the last day of the year. fJ Covers busmess for last two days ot year. . Range. Range. Range. f?:ange. Range. - 4 ____ Ja.n. 11_ ___ 1 25:::: __ _ Feb. gl_____ 15 ____ 2l ___ _ ___ Mch. 8l_____ 15 ____ 22 ____ 29 ___ _ April 5 ___ _ 12 __ __ 19 ____ 26 ____ 3 ___ _ May 10 ____ 17 __ __ 24 ___ _ 3 1_ ___ Jun e 7 ___ _ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Range. -- -- - --- - -- --- - - -- ------ ::::nee. ---------- NEW YORK MONEY MARKET . 42 MONEY MAR KET AT NEW YORK-RATES IN 1906. j CALL LOANS. TIJiE £()ANS. n, At At Stock Exchange. Banks& Tr. Cos. 1906. WEEK Ending- a.. 60 Four Five Six Seven Months . Months. Months. Months. 90 days. J ••i. days. PAPER. COM. 1,1.i:.,HC'L DoubleNames . Single-Names . 1906 WEEK. Choice Prir e Good En<lfog60 to 90 4 to 6 4 to 6 Days. Months. Months. , 5 -!',½ 5½ 5½-6 ___ .January .5 -5½ 5 -5½ 5½-6 5 5 -5½ 5½-6 4~:.(-5¼ 5 -5½ 5½-6 4½-5 4¾-5¾ 5½-6 ____ F ebruary 4½-5 4¾-5¾ 5½-6 5 5 -5¾ 5½-6 5 -5¼ 5 -5½ 5½-6 ____ March 5 -5½ 5¼-5%' 6 5 -5½ 5¾-5¾ 6 6 5 -5½ 5¼-5¾ 5 -5½ 5 -5½ 6 6 5¼-5½ 5¼-5}~ ____ April 6 5¼-5½ 5¾-5½ 5½-6 5½-6 6 -6½ - - - 4¾-5½ 4¾-5!-~ !5 -6 5¾-5¾ 5¾-5¾ 6 5~'2-6 5½-6 6 == ==May 6 5¼-5¾ 5¼-5¾ 5 -5¾ 5 -5½ 5½-6 4¾-5¾ 4¾-5¾ 5½-6 ____ June 5 -5½ .5 -5½ 5½-6 5 -5½ 5 -5½ 5½-6 5 -5 ½ 5 -5 ½ 5½-6 5 -5 .½ 5 -5 ½ 5½-6 .5 -5 ½ 5 -5½ 5½-6 5 -5 ½ 5 -5.¾ 5¾-6 ____ July 5 -5 ½ 5 -5 ½ 5¾-6 6 5¾ -5 ¾ 5½ -5 :lf 6 5 ½-5 ¾ 5½-5 3/ ____ August fi½-5¾ 5½-5¾ 6 5>✓.;-6 5½ -6 6 _______,______ ____ -------------------------- _________ _______ Range. Av'ge. Min'm. 5 ____ 4 -60 12 ____ 3 -8 19 ____ 3 -6½ 26 ____ 3½-4½ February 2 ____ 2½-5 9 ____ 2½-4½ 16 ____ 2 -5½ 23 __ -- 2 -8 2 ____ 3 -7 March 9 ____ 3 -6 16 ____ 3 -9 23 ____ 3 -5½ 30 ____ 3½-8 6 ____ 5¾-30 April 13 __ __ 2 -25 20 __ __ 2½-6½ 27 ____ 3 -,5¼ 4 ____ 3 - 12 May 11_ ___ 2¾-5 .18 ____ 2½-4 25 ____ 2 -5 l ____ June 1½-5 8 ____ 2 -4 15-__ 2½-5 22 __ -- 2 -4 29 ___ _ 2 -6 6 ____ 2 -8 July 13 ____ 2 -3¼ 20 ____ 1½-3 27 -- __ 2 -2½ 3 ____ 2 -3½ Auguc;t 10 ____ 2 -,5 17 ____ 2 -4¼ 24 ____ 3 -6 31_ ___ 3½-12 September 7 ____ 2 -40 14 ___ _ 2½-12 21_ ___ 2 -10 28 __ -- '3 -7 5 ____ 3 -9 October 12 ____ '3 -4½ 19 __ - - '3 -7 26 ____ 2 -7 November 2 ____ 3 -9 9 ____ 6 -15 16 ____ 2½-20 23 ____ 4 -12 -- - 2 -36 Dr c 3:nber 30 7 ____ 14 ____ 4 -?8 21 ___ ?, - ? 9 28 ____ 3 -18 January -13¾-27 25 6 4½ 4 3¾ 4 4¾ 4¾ 5 5¼ 4½ 4¾ 5 15 15 4 4 6 4 3¼ 3½ 4 3¼ 3 3¾ 3½ 5 3 2½ 2½ 2¼ 3¾ 3½ 5 6 20 6½ 6 5 5½ 3 ~t 5 5 6 11 8 8 8 6 18 12 20 Range. Range. Range. Range. Range. Range. Range 8 6 G 4 4 -8½ 6 -7½ 5¾-6 5½ 6 5½-5¾ 5.~2-5¾ 5½-5¾ 5½ 5¼ 5 -5¼ 4¾ 4¾ 4'4 4½ 4½-4¾ 4½-4¾ 4½-4¾ 4½-4¾ 4½-4¾ 4½-4¾ 4½-4¾ 4¾ 4¾ 4~ 5¼-5½ 5¼-5½ 5 2 5 -5¼ 5 -5½ 5 -5¼ 5 -5¾ 5½-5¾ 5¼-5½ 5¼-5½ 5¼-5½ 5½ 5¼-5½ 5¼-5½ 5¼-5½ 5 -5¼ 5 -5¼ 5 5 5¼-5½ 5¾ 5¼ 5¼ 4¾-5 4¾-5 4¾-5 4¾-5 5 -6 5 -.5½ 5 -5½ 5 -5½ 5¾-6½ 5¾-6 5¾-6 5¾-6 5 -5¾ 5 -5½ fi -5½ 5 -5½ 5 -5½ 5½-6 5½-6 5½-6 5½-6 5½-6 5½-6 ,5 ½-6 5½-6 5 5 5 5 5¼-5½ 4½-4¾ 4½-4¾ 4½-4¾ 4½-4¾ 5 4½ 4½ 4¾-5 4¾-5 4¾-5 4¾-5 4¾-5 4¾-5 5¼-5½ 4¼ 4¼-4½ 4¾-5 4¾-5 4 -4¼ 4½-4¾ 4¾-5 ,5¼ 4¾-5 4¼-4½ 4½ 4¾-5 4¾ -5 5,¾-5½ 4½-5 5 5 5¼ -5J1 5½-5¾ 4¾ 5 -5¼ 5 -5 ¼ 5½ -5 ¾ 5½-5 ¾ 4½-4¾ 4¾-5 5¼'-5 ½ ,5½-6 4¼-4½ 4¾ 5 -5 ¾ 5½-fi~i 5½-5¾ 4¼ 4¾-5 5 -5 ¼ 5½-,5 ¾ 5½ 4½ 4¾-5 5 -5 ¼ 5¾-5 %' 5½-5¾ 4 -4½ .5 -5¼' 5½-5¾ 5½-5 ¾ 5'½-6 5¼-5½ 5½-5¾ fi¾-6 5¾-6 5!1 5 3¾ 3 4 3 3 3 4 3½ 4 6 6 4 4 5 3 3 3 3 5½ 5½-6 4¾-5 4½ 4½ 4½ 5¼ 5 -5¼ 5½-6 5½ 5 -5¼ 5¼-5½ 4¾-5 g~ -6 5 5¾-7½ -5½ 5½-6 5½-6 4¾-5 4¼-4½ 4 4¼ 4 -4¼ 4 -4¼ 8 5 2½ 2½ 5 4 3 3 2 2 2 2 2 4 4 3¾-4¼ -4¼ 4¼-4½ 4½-5 4½ 4¾ 3½-4 3!1 2¼ 2½ 3½ 3½ 3¾-4 4 4 -4½ 4½-5 6 6 6¼ 7½ 6 3 3 3 4 3 3 7 6 3 3 6 3 4 4 6 6 6 6 6 6 6¼-6½ 6¼-6½ 6 -6 ½ 6 -6¼ 7½-8 7 6½ 6½ 7 6½ 6½ 6H 7½ 7½ 7 -71,-f 7 -7 ½ 7 7 -7½ 6½- 6 ¾ 6½-6¾ 6 6 6 G -ti½ (p..,:;_7 G!":i -7 6 -7 6 -5 1-<j 5 -fd1 6 -6 ½ 5 -6 ½ 6 5 ½-6 5½-fi ¾ 5½ -5 ¾ 5¾ -6 5½-6 5½ -6 6 6 6 -6½ 6 -6½ 6 7 6½-7 6 6 6½ - 7 7 6½ 6 -6¾ 6 -6>:i° 8 7 7½ 6½ 6½ 5 -6¼ 5 -6 ¼ 7 -7½ 7 -7 ½ 7 '3 -O ½ 6 -6 ½ 7 8 7½ -8½ 8 7 f\ -D ½ ln -6 y~ 711 6½-7 6½-7 8 ½ 7½-8 9 -10 8½ 7 7 8 8 7 -7½ 7 -7½ 6½-7 6½-7 5½ -6 5¾-6 6 -7 -7 (i l) I' -7½1 6 6 -5 ½ 6 5 -6 1~ 6 6 6 -6 1,4 -6 ½ -6 ½ J; 9 16 23 30 6 13 20 27 4 11 18 25 l 8 15 22 29 6 13 20 27 3 10 5%-6 6 17 6 24 6½ 6 -7 31 7½ G -7 7½ == ==September 7 14 6 -6 ½ 6¾-7 6 ¼-7 21 7 -7½ f\11 -7 28 7½ 6 -7 7 -7 .l ~ ====October 5 6 -6 1/- 6!1 -7 12 6 -6 ¾ fi ½ -7 19 26 6 -6~~ 6½ -7 6 -6 1/ 6½ -7 ====November 2 9 6 -61/4 6 ½ -7 6 -61/e 6 ½ -7 9 6 _f',1 / f\½-7 23 6 _r ·, (i -7 30 6 _ ,., , ,r¾-7 == ==DecPmber 147 6 -f\1/4 f\¼-7 6 -6 1".i l'\ ¼ -7 II - - ~l <):§ 6 -fl ½ {H-6-7 6 -6½ 6 -6½ 6 -6½ Note .-Where ouotrition<: for time lo:cins arP ::t.bo ve 6 per cent, borrower had to pay a commission in aclrlition t0 Urn le,,-~! rate, 6 4 6 3 5 12 19 26 2 9 16 23 2 ~ NEW YORK CITY CLEARING HOUSE BANKS- AVERAGE CONDITION EACH WEEK AND ACTUAL CONDITION . WEEKLY AVERAGES OF CONDITION (00s omitted.) 1909. Week Emled. J anuary2 _________ ACTUAL co DITION END OF WEEK (003 omitted .) Money Holdings. Loans. s Deposits. $ (1) Specie. $ Reserve to De- Surplus <3/4:o'f:::°: posits. Reservea 'Penft;fs~ - - - ---$ s --- $ s 26 .76 20,957,3 Money Holdings. (1) Reserve U.S . to De- Surplus Gov't <'Penf:fs~l <3/4:o'f::;°: posits. Res've.a Deposits Loans. Deposits. 1,293,502 ,0 1,307,659 ,0 1,335.209,9 1,334,900.8 1,347,614 ,9 l,34l534 ,9 1,376,585,8 1,413,811,6 1,420,320,5 1,419,196,2 269 916 .1 284,378,1 298,565 0 305,129,3 294,033,2 80,922,0 86,069,8 82,239,3 82,873,l 81,485,9 350,838,1 370,447 ,9 380,804,3 388,002,4 375,519,1 26.25 27.08 27.06 27.40 26.53 1,385,538,4 1,373.637,5 1,372,866,1 1,362,203,0 275,402,3 272,060,5 276,905,6 273,294,7 80,891.,6 81,554,l 81,958,8 80.601,9 356,293,9 353,614,6 358,864,4 353,896,6 25.77 9,909,3 3,658,3 25.78 10,205,2 2,886,6 26.19 15,647,9 2,869,4 26.01 13,345,8 2,487,6 Spede. $ - - - - - - - - - - --- - - $ $ $ $ $ 1,273,220,7 1,297,035,7 1,329 ,110,6 1,335,045,9 1,341,960,6 1,320,867,6 1,358,349 ,8 1,404,459,7 1,417,776,2 1,422,820,l 271,626,1 279,129,4 293,344,6 302,852,1 301,202,2 79,548,1 83,151,0 83,358,5 81,979,4 82,200,2 351,174,2 362,280,4 376,703,1 384,831,5 383,402,4 1,343,667,4 1,326,315,4 1,319,330,l 1,316,190,4 1,402,828,4 1,378,413 ,6 1,373,778,9 1,368,987,7 280,402,0 273,893,1 275,685,8 275 602,1 80,641,9 80,208,1 81,304,0 80,524,8 361,043,9 354,101,2 356,989,8 356,126,9 25.80 10,336,8 1,330 ,838,2 25,74 9,497 ,8 1,322.485, 7 26.04 13,545,1 1,317,311,1 26.05 13,880,0 1,311,950,4 1,312,632,5 1,305,353,7 1,301,635,4 1,298,602,1 1,360,950,9 1,352,149,0 1,348,465,3 1,345,398,9 271,115,5 271,330,3 271,520,1 271,694,8 80 .904,4 80,159,9 80,502,7 81,434,6 352,019,9 351,490,2 352,022,8 353,129,4 25.90 26.03 26 .15 26 .29 11 ,782,2 13,452,9 14,906.5 16,779,7 1.311,849,1 1,308,622,1 1,292,027 ,6 1,302 ,299,6 1,360,463,1 1,356,258,3 1,341,551,3 1,350,120,5 271,076,6 271,995,7 274,337,1 273,253,0 81,432.1 80,466,2 80,484,1 80,840,3 352,508,7 352,461,9 354,821,2 354,093,3 25.94 12,392,9 2,255,8 26.03 13,397 ,3 2,434,l 26.49 19,433,4 2,556,2 26 .26 16,563,2 2,493,4 1,309,522,2 1,320,945,6 1,327,793 ,3 1,339,585,5 1,355,968,7 1,364,715,9 1,375,388,8 1,389,383,7 274,405,1 274,078,6 276,948,7 280,543,5 78,572,9 77,138,4 78,100,7 76,909,8 352,978,0 351,217,0 355,049.4 357,453,3 26.07 25.77 25.85 25.76 13,985,8 10,038,0 11,202,2 10,107,4 1,311.955.0 1,324 ,818,7 1,336.060,1 1,337 ,732 ,5 1,353,409,0 1,370,225,5 1,383,329,1 1,387,507 ,3 272,138,9 274,538,3 277,906,4 279,629,2 76,715,9 77,911,6 77,193,4 77,760,5 348,854.8 352.449,9 355,099,8 357 ,389,7 25.82 10,502,5 2,334,9 25.75 9,893,5 2,362,9 25.70 9,267 ,5 2,360,3 25.80 10,512,9 2,385,2 1.337.357,5 1,346,484 .o 1,340,678.6 1,338,224,l 1,331,846,0 1,386,958,8 1.396,185.8 1.397 .216,7 1,400,657,7 1,398,160,3 280,507,7 280,001,3 286,020 ,4 292,200,0 296,857, l 77,439,2 76,672.6 77,901,7 77 ,884,2 77.668,2 357,946,9 356,673,9 363,922,l 370,084,2 374,525,3 25 .84 25.58 26.08 26.46 26.82 11,207,2 7,627,4 14,617,9 19,919,8 24,985,2 1,343 .247,3 1,341,725,4 1,339,425,6 1,332,376,5 1,332 ,573,8 1,391,660 ,9 1,392,770,8 1,401,038,3 1,394,591,5 1,400,439,5 279.461,8 280,715,8 290,050,7 293,374,3 298,740,6 76,312,9 78,277,7 8 1,124,6 77,613,1 76,796,2 355,774,7 358,993,5 371,175,3 370,987,4 375,536,8 25.60 25.82 26.53 26.64 26.86 7,859.5 10,800,8 20,915,7 22,339,5 25,426 ,9 2,389,3 2,432.6 2,415,7 2,420,1 2,415,1 1,343,031,4 1,407 ,255,2 294,268,7 12 _______ -- 1,362,007,9 1,429,466,8 296,405,4 19 ___ ______ 1,443,046,0 301,239,1 26 ___ ______ 1,372,384,9 1,339,962.1 1.416,197,8 307,706,9 July3 _______ -- 1,340,200,3 1,419,315,7 310,268,1 10 _________ 1.348,980,6 1,426,337,6 309,872,4 17 -- - ------ 1,345,586.5 1,423,472,8 309.242,7 24 _____ - - -1,426,789,9 309,435,9 31 __ _______ 1,349,259,7 1,350,661,2 1,426,873 ,6 309,003,9 August7b___ __ ___ 1,361,527,8 1,430,251,2 304,105,0 14 __ __--- -- 1,360,731,9 1,424,659,9 301,116,8 21_ ____ ____ 1,406.589,0 296,372,7 28 ___ __ ____ 1,351,995,7 1,353,397 .5 1,404,041,3 292,335,6 76,401,4 78.776,4 78,791,1 79,289,1 370,670,l 375,181,8 380,030,2 386,996,0 26.37 26 .29 26.38 27.36 18,856,3 17,815.1 19,268,7 32,946,5 1,352 ,561,2 1,378,850,2 1,343 ,572,7 1,331 ,508,9 1,417,114,0 1,449 ,407,9 1,415,483,l 1,411,153,4 294,933,1 297,928,2 302,646.7 311,707,5 77,293,0 79,694,8 79,655,3 79 ,288.1 372,226,1 377,623,0 382,302,0 390 ,995,6 26.30 26.09 27.05 27.75 17,947,6 15,271,0 28,431,2 38,207.2 2,352,1 2,435,8 2,583,8 2,272,5 79,056,9 78,714,9 81,194,7 81,552,8 81,973,9 389,325,0 388,587,3 390,437,4 390,988,7 390,977.8 27.46 27 .27 27.46 27.43 27.43 34,496,1 32,002,9 34,569,2 34,291.2 34,259,4 1,357,556,0 1,349,370,2 1,344,715,9 1,355,660,2 1,358,050,6 1,433,192,0 1,428,824,0 1,421,275,1 1,432,787,3 1,433,633,9 307,650,6 310,179 ,3 307,010 . 3 307,971 ,1 310,054,1 77,848 ,8 81.056,5 82,219,7 83.011,0 79,676,2 385,499,4 391 ,235,8 389,230,0 390,982,1 389,730,3 26.94 27.42 27.41 27.31 27.21 27,201,4 34,029,8 33,911,2 32,785 ,3 31,321,8 2,262,8 2,232,4 1,737,0 1,733.0 1,645,6 79,403,4 78,378,4 76,003,7 77,034,3 383,508,4 379,495,2 372,376,4 369,369,9 26.83 25,945,6 1,361, 738,9 1,428,338,2 302,155,3 26 .66 23,330,2 1,356,567,2 1,417,229,2 298,693,6 26.49 20,729,1 1,350,399,0 1,402,608,3 294,388,9 26.33 18,359,6 1,352,050,0 1,401,958,9 290,474.6 79,726 ,0 78,329,3 75,824,7 77,967,9 381,881,3 377,022,9 370,213,6 368,442,5 26.75 26.63 26.42 26.31 24,796,7 22,715,6 19,561,5 17,952,8 1,614,5 1,621,2 1,622,6 1,631,9 9 _________ 16 _________ 23 _________ 30 __ _______ February6 _________ 13 _________ 20 ___ ____ -27 _________ March6 _________ 13 _________ 20 _________ 27 _________ April3 _________ 10 _________ 17 ___ ______ 24 _________ May- l __ -- - - - - 8 __ - -----15 _________ 22 _________ 29 _________ June5 _________ September4 _____ ____ 11_ ___ _____ 18 __ - - -- _-25 _________ OcJ;ober2 __ _______ 9 _____ ____ 16 _____ __ _ - - -___ - --_ 23 30 _____ ____ November6 ___ ______ 13 ___ __ ------20 ____ __ 27 - - ------December4 ___ __ ____ 11 - - __ __ -- _ 18 __ __ __ - --___ - - __ -_ 24 31 __ _____ -- 26.84 26 .96 27 .25 27.01 22,692,9 25,588,2 30,387,4 27,697 ,4 14,704,4 26 ,301,4 27,351,4 32,922 .3 20,720,0 8,699,4 8,717,7 6,972,5 5,274,8 3,841,1 1,348,875,1 1,348,305,2 1,327,573.6 1,316,942,1 1,394,441,7 1,381,329 ,3 1,355,385,5 1,343,551,9 288,223.4 279,929,5 274,439,1 274,303,9 75.725,3 71,872,0 71,998,8 71,461,5 363,948,7 351,801,5 346,437.9 345,765,4 26.12 15,338,3 1,350,179,1 1,390.045,5 285,201,0 25.48 6,469,2 1,345,802,3 1,373,009,2 273,876,3 25.58 7,591,5 1,315,176,9 1,344,403,4 275,460,0 25.76 9,877,4 1,321 ,149,2 1,340,981,6 271,150,8 72,558,2 72,542 ,1 72,762,9 70,971,3 357,759,2 346,418,4 348,222,9 342,122,1 25.76 10,247 ,8 1,669,9 25.26 3,166,1 1,665,3 25.94 12 ,122,0 1, 799,5 25.54 6,876,7 1,675,6 1,309.706.2 J ,273,033,2 1,243,444,0 1,234,696, 7 1,233,964,9 1,327.406 ,5 1,278.402,2 1,245,824,7 1,240,417,l 1,234,014,3 267 ,420,7 255,734,7 251,318.5 255,685,1 251,359,5 69,122,6 68,413,6 70,428,8 71,063,0 71,053 9 336,543,3 324,148,3 321,747,3 326,748,l 322,413,4 25 .38 4,691,7 1,304 ,962,9 1,310,820,7 25 .38 4,547,7 1,255,548,8 1,258,331,2 25 .85 10,291,1 1,231 ,411,0 1,235,047,7 26.37 16,643,8 1,235,399,2 1,240,025,4 26.15 13.909,8 1,237 ,177,4 1,234,624,8 260.670,4 252,578,2 253,795,5 254,248,l 248,678,1 68,662,3 69,251,4 70,504,8 72,365,6 71,077,7 329,332,7 321,829,6 324,300,3 326,613,7 319,755,8 25.15 1,627,5 25 .59 7,246,8 26 .20 15,538,4 26.37 16,607,3 25.93 11,099,6 1,246,974.4 1,226 ,243,1 1.204,634,2 1,196,167,1 1,241,460,5 1,214,788,0 1,187,694,1 1,175,582.1 246.877,3 241,898,2 238,092,7 235,090,6 68,530,4 68.567.8 68.439.6 68,118.8 315,407,7 310,466.0 306 ,532,3 303,209,4 25.43 25.59 25 .84 25 .82 1,243 ,802,0 1,204 ,199,6 1,204 ,591,4 1,192,535,5 1,236,695,9 1,189,960,9 1,187,528,6 1,172,073,0 244,104,4 239 ,456,2 238,141,7 234,770,4 . 69,565,9 68,860,6 68,635,2 69,582,2 313,670,3 308,316,8 306,776,9 304,352,6 25.48 4,496,3 1,587,2 25.94- 10,826,6 1,669,3 25.87 9,894 ,7 1,676,7 26.00 11,334,3 1,676,8 1,192,793,1 1,181,994.2 1,191,041,0 1,197,479,6 1,194,610,7 1.168.629,8 1,159,110,0 1,172,713.2 1,179,731,3 1,171,732,4 230,668,4 230,841,6 232,991 ,5 235,778,6 231,390,4 69,203.7 68,898,1 70,630 ,5 69 ,299 ,5 67,730,9 299 ,872,1 299,739,7 303,622,0 305,078,l 299,121,3 7 ,714,6 1,181 ,957 ,5 25 .69 9,962,2 1,187,673,4 25 .89 25 .92 10.443,7 1,206,890,5 25 .89 10, 145,3 1,191 ,987,7 25.55 6,188,2 1,196,598,0 1,157,019,5 1,167,995,3 1,188,572,3 1,172,876,7 1,171,462,4 229,784,6 230,899,8 233,658,7 234,059,4 228,097,3 69,176,2 71,057,2 70,394,2 69,685,7 68,257,4 298,960,8 301,957,0 304,052,9 303,745,l 296,354,7 25 .87 9,705,9 1,774,8 25 .87 9,958,2 1,669,4 25.62 6,909,8 1,829,6 25.92 10,525,9 1 ,649,2 25.33 3,489,1 1,559,8 5,042.6 6,769 ,0 9,608,8 9,313,9 a This ls the surplus In excess ot 25 % against the deposits, Government deposits being included In the totals the same as in the past. Included In t otals ror August 7 and subsequently. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1,670,2 1,649,3 1,654,3 1,671,4 1,678,5 b Coal & Iron National Bank 43 NEW YORK CITY BANK MOVEMENTS. MAXIMUM AND MINIMUM OF NEW YORK CLEARING-HOUSE BANKS. BANKS AND TRUST COMPANIES IN 1909. Deposits. Surplus Reserve. In the table on the ·lower half of the preceding page Yr. Maximum. ,llinimum. Maximum. Minimum. $ $ s $ we haye furnished a summary of the returns of the 3 ~~~~:~gt~gg~~-~g ~Hig~iil1::~9 d!tm:ti8~tv.E New York City Clearing-House banks for each week 1900 ~~Uti:~ggg~t_ 907,344,900Sep. 15748,953 , lO0Jan. 6 30,871,275Feb. 3 2,686,425Mch.17 19011,012,514,000Mch. 2 870,950,l00Jan. 5 30,799,450Jan. 26 5,211,525July 6 l,019,474,200Feb. 21863,125 ,S00Oct. 18 26,623,350Feb. 1 dt.l,642,050Sep . 20 of the past year. It will be observed that we give 1902 1903 963,219,300Feb .21841,552,000Nov.28 27,880,775Jan. 31 666,975Mch. 7 both the average and the actual figures in our com- rngi U5!:m:g8g~~~: n m:AXU88b~~: 35 ~~:mj!Sta1•~g dt.t~~gig~g~jy 1906 l,076,599,300Aug. 4 967,161,400Dec. 15 19,391,000July21 d!.6,702,175Dec. 8 pilation. 1907 l,128,194,600June 11000578300Jan. 5 19,441,225Apr. 6df. 54103600Nov.23 1908 l,425,375,000Nov.281048465800Jan. 4 66,098,800June271df. 11509550Jan . 4 As the State Superintendent of Banking also now 1909 l,443,046 ,000June191159110000Dec . ll 34.569.200Julyl7 4,547,750Oct. 9 We add the following two tables, the one showing requires weekly returns of the banks and trust companies under his jurisdiction, we have compiled the the condition of each Clearing-House bank at the following, showing the totals of condition for those beginning of the year and the other the condition at the end of the year. State banks and trust companies in the Greater ew CONDITION OF NEW YORK CITY BANKS BEOINNINO OF 1909. York not included~ in the Clearing-House returns. Jan.:.! 1909. Capital. Surplus. Loans. Specie. Legals. Deposits. Re00s omitted. Average. Average, Average. Average. s've. The figures are the averages for the week. m~ $ · STATE BANKS AND TRUST COMPANIES NOT IN THE CLEARING-HOUSE. 0os omitte4. 1909. 2 ____ 1,061,461,4 9 ____ 1,056,502,9 16 ____ 1,036,530,3 23 __ __ 1,043,370,9 3Q ____ 1.061,536,2 6 __ - - 1,084,609,6 13 ____ _ --- 1,107,649.7 20 1,104,775,0 27 ____ 1,087.038 .3 6 - --- 1,075,911,8 13 ___ - 1,077.064.1 20 ____ 1,070,089,0 27 ---- 1,075 972,3 3 __ - - 1,081,033,8 10 _ --- 1,072,718,2 1.085,595,7 17 -24 ___- -_ 1,103,113,7 l_ ___ 1,115,593 ,6 · 8 ____ 1,125,027,9 15 ____ 1,123,971,0 22 ____ 1,121,083 2 29 ____ 1,129,626,7 5 ___ _ 1,136,153,9 12 ____ Jan . Feb. Mch. April May June 19 ___ _ July Aug. Sept. Oct. Nov. Dec. Loans and Investments *LegalSpecie. Tenders. s 92,228,6 92,826,2 93,946,4 99,870,9 108,179,5 129,613,0 132,265,0 134,462,2 133,474,4 131,277,3 129,930,7 127 ,477,4 126,818,2 127,904,2 125,408,8 124,429,8 124,674,8 124.440.6 124,338,8 123,280,6 123,144.4 123,922,8 125,238,5 17,512,2 18,474,9 18,829,0 18,812,5 19,530,4 27,179,9 20,330,3 21,381,6 21.108,9 21,071,6 2 1,044,3 20,710,7 20,730,7 19.847 ,3 20 ,839,0 21,237,8 21,737,9 21,639,7 21 ,487 ,3 22,069 ,2 21,982,0 22,495,2 22.263,6 tHHtd m:m:i ~g~u 128,396,7 22,970,9 26 ____ 1,152,29 ,5 3 ____ 1,177,026,6 IQ __ __ 1,179,747,3 17 ---24 __ __ 1,177,598,3 1,186,691 ,6 31_ ___ 1,200 ,361,2 7 ____ 1,202,388,4 --- 1,206,903,6 14 _ ___ 2L 1,218,719,0 23 ____ 1,226 ,840,3 4 ____ 1,224,516,1 lL ___ 18 ____ 25 ____ 1,226,836,5 2 ____ 1,238,473,2 9 __ __ 1,246,342,7 16 __ __ 1,221,134,2 23 ____ 1,210,323,3 30 ____ 1,205,4 2,6 6 ____ 1,200,810,9 13 __ __ 1,202,2 3,3 20 ____ 1,203,456,5 1,193,811,5 274 --__ __- 1,188,441.3 11_ ___ 1,189,460,8 18 ____ 1,190,693,9 24 ____ 1,202,728,0 31_ ___ 1,206,946,8 128,392,6 129,449,3 128,728,2 127 ,875,4 128,038,9 130,240,5 130,999,3 132,127,6 133,031,6 132,021,4 22,825,0 23,002,0 23,309,0 23,128 ,4 22.930,7 22,503,6 22,710 ,8 22,750,0 22,951,7 22,812,9 131,695,4 130,887,8 131,035,0 129,270,1 128,466,7 126,994,6 124,032,9 121,44!'!,5 121,040,7 119,571,3 118,193,4 117,788,8 119,503,1 120,303,6 122,770 ,2 22,692,0 23,135,6 23,212,0 23,260,6 22,631,9 22,518,3 22,784,7 22,512,5 21,345,3 21,498,4 21,933,6 22,259,4 22,483,1 21,786,8 22,078,8 }:m:m:s UU~ti ~N8N I Total Deposits. s 1,128 ,588,3 1,145,499,8 1,148,949,0 1,175,690,8 1,201,371,8 1,221,424 ,6 1.231,643,4 1.232,037 ,6 1,216,013.9 1,218,994,7 1,215,677,2 1,209 .495,8 1,217,909.0 1,237,355 ,5 1,217,933,3 1,222,831,9 1,242,921,9 1,251,933,6 l ,278,422,9 1,27 5,578 ,2 1,278,153,9 1,299 ,200,0 1,309,557,4 1,319,145, 7 1,348,086,8 1,347,046,3 1,381,892,3 1,386,103,5 1,383,837,0 1,386,888,9 1,406,021,1 1,412,810,0 1,406,486.8 1,402,979,4 1,398,270, 7 1,388,637,2 1,377 ,464,9 1,364,003,2 1,355,649,5 1,367 ;197,6 1,347 ,426,0 1,305,506,3 1,289,714,3 1,286,197,4 1,272,045,3 1,251,897,7 1,244,181,6 1,228,850,2 1,226 ,227,4 1,222,580,6 1,229,110,2 1,242.766,3 1,252,741,2 Deposits, Reserve % of Less Due on from Other Deposits. ReBanks,&c. s've. $ -% s 980,579 6 283,876,2 27.3 978,003,9 303,284,1 28.7 963,987,6 320,583,6 30.4 976,015,7 343,002,1 32.0 1,001,084.1 354,725,5 3:.!.7 1,043,808,7 180,167 ,6 19.1 1,069,404.3 175,083,2 18.1 1.068,989,9 178,885,1 18.4 1,042,467,5 177.982,6 19.1 1,037,748.6 175,797,8 19.1 1,035,748,0 176,24 7,1 19.2 1.023,285,1 172,784,7 19.3 1.031.163.9 171,813.7 19.1 1,036,850,6 172,796,0 19.1 1,023,331,3 173,488.7 19 .5 1,034,611.8 171.754,8 19.2 1,054 ,069, 1 173,118,1 18.\J 1,057,020,8 174,561,6 19.1 1.077, 192,0 174,480,5 19.0 1,078,577 ,6 172,757,9 18.8 1,077,898 ,0 172,624,7 18.8 1 ,091,445,6 173,801,4 18.8 l,0::ll,816,3 177 ,182,3 18 .6 1,104, 125,5 178.530,4 18.8 1,118,759,8 180,922,1 19.1 1,122,801,3 180,741,3 19.1 1,150,218,9 181, 150,4 18.9 1,159,530,9 184,185,3 19.2 1,158,393,7 182,301,9 rn.a 1,167,323,4 179,721,6 18.7 1,177,281,3 178,977,2 18.7 1,185,934,0 181,314,9 18.6 1.193,270,9 181,926,8 18.5 1,204,820,4 181,865.9 18.1 1,210,220,9 183,106,4 18.1 1,205,612,8 182,783,9 18.0 1,197 ,549,4 183,50a,3 17 .3 1,209,999,1 181,974,5 17.8 1,202,159,2 180,130,7 17.5 1,213,791,7 178,044,5 17.3 1,216,100,7 178,272,0 17 .1 1,187 ,590,5 175,834,0 17.3 1,174,800,8 173,092,2 17.3 1,167,857,6 172,087,0 17.3 1,160,346,7 169,959,2 17.3 1,153,469,5 165,343,2 17.1 1,150,354,7 163,101,1 16.9 1,134,929,3 162,362,7 16.7 1,127 ,438,5 161,308,5 17.1 1,128,704,6 161,531,9 16.9 1,134,131,9 163,636,3 17. 1,148,160,0 163 ,174,5 16.7 1,154,691,9 169,741 ,2 17 .2 • Includes bank-notes. In the table we now present we combine 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 is the Loans and the Money Holdings. BANKS AND TRUST COMPANIES IN GREATER NEW YORK. Week Ending- Loans and Tot. Money Investments. Holdings. $ Jan. 2 ______ 9 __ ___ 16 ______ - - - --23 30 ______ Feb. 6 ______ 13 ______ 20 ______ 27_ _____ Mch. 6 ______ 13 _______ - - --20 2,334,682,100 2,353,538,600 2,365,640,900 2,378,416,800 2,403,496,800 2,428,277,000 2,433,965,100 2,424,105,100 2,403.228,700 2,388,544,300 2,382,417,800 -----_ April27 3 -_____ 10 ____ -17 -______ - ---24 May L _____ un:m:igg 2,390,556,000 2,393,663,800 2,413,389,000 2,442,699,200 2,452,951,100 2,471,511,900 2,464,649,600 2,459,307,300 2,461,472,700 2,479,185,300 2,500,556,200 2,518,640,100 2,492,260,600 g ______ 15 ______ 22 ______ 29 ______ June 5 ______ 12 ______ 19 ______ 26 ______ $ 460,915,000 473,581,500 489,478,500 503,514,900 511,112,300 517,836,800 506,696,500 512,833,600 510,710,200 504,368,800 502,465,200 500.210,900 500,678,300 500,729,500 497,464,800 500 ,717,000 503,866,000 504,027,200 502,500,000 509,271,900 515,210,600 520,943,300 518,172 ,200 524,367,700 531,512,600 538,363,600 Week Ending- Loans and Tot. Money Investments. Holding s. s July 3 ______ 2,517,226,900 10 ___ ___ 2,528,727,900 17 _____ _ 2,523,184,800 24 ____ __ 1,300 31_ _____ 2,535,95 2,551,022,400 Aug. 7 ______ 2,563,916.200 14 __ ___ _ 2,567,635,500 2L _____ 2,570,714,700 28 _____ _ 2,580,237,800 Sept. 4 ____ __ 2,573,391,200 lL _____ 18 ______ 2,568,181,700 25 ______ 2,552,792,600 2,543,778,600 Oct. 2 ______ 2,548,179,400 9 __ ____ 2,519,375,900 16 ______ 23 __ ____ 2,464 ,578,200 30 ______ 2,445,020,000 2,439,447,500 Nov. 6 __ ____ 2,447,785,300 13 ____ -- 2,428,526,400 20 __ __ __ 2,408,090,700 27 ____ __ 2,389,978,600 Dec. 4 ____ __ 2,381 ,234,400 lL ___ __ 18 ______ 2,371,455,000 1,734 ,900 24 __ ____ 2,3 ,207,600 31_ _____ 2,400 2 ,401,557,500 $ 540,542,600 541,038,600 542,474,600 541,992,500 542,195,400 536,252,500 533,205,300 527,254,000 525,353,200 518,783,000 506,118,500 500,928,500 500,152,800 490,566,700 478,395,300 474,278,000 477,846,700 471 ,926,300 462,225,300 454,427,000 448,918,300 444,279,100 439,999,100 439,787,900 445 ,608,200 447,168 ,500 443,970,300 In the following table we show the maximum and minimum of deposits and of surplus reserve of the Clearing-House banks, based on weekly averages, for each of the last twelve year.::;. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $ $ s s $ % :Bank of N. y __ 2,000,0 3,382,8 19,823,0 3,687,0 1,201,0 18,243 ,0 26.9 Manhattan Co_ 2,050,0 3,479,7 35,700,0 8,073,0 1,686,0 41,450,0 23.5 Merchants' ___ _ 2,000,0 1,645,0 19,115,0 · 3,417,0 1,736,0 19,893,0 26 . 1 Mechanics' ___ _ 3.000,0 3, 716,3 28,342,0 6,110,0 2.228,0 30,147 ,0 27 .6 America _____ _ 1,500,0 5,032,4 26,141,8 27,809,125.5 3 Phenix ___ ___ _ 1,000 ,0 620,1 7,828,0 7,635,0 30.8 City -- __ --- - - 25,000,0 25,531,3 184,261,l 45,969,7 8,593,0 189,901,1 29 .0 ChemJcaL ____ _ 3 5,832,2 29,920,6 6,127,1 1,794,6 29,613,626 .7 Merchants' Ex_ 1,212,4 533,0 6,386,6 425,1 6,540,6 25.5 Gauaun ___ ___ _ 1 2,418,9 9,483,0 1,325,0 748,4 7 ,685,6 27 .3 Butch . & Drov _ 150,3 2,232,0 642,6 64,8 2,476,6 28.5 Grt>enwtch ___ _ 500,0 733.7 6,697,3 1,795,3 200,0 7,605,726.2 Amer. Exch __ _ 5 ,000,0 4,968,0 31,326,9 5,373,9 1,449,1 25,560,4 26.9 Commerce ____ _ 25.000,0 15,546,3 155.471,1 24,219,0 11,478,7 136,907,8 26.2 Mercantile ___ _ 2,521,7 12,481,0 1,513,5 854,4 8.801,1 27.3 Pacltic ___ __ _ _ 3,ggg:g 852,4 3,360 ,5 992,0 502,2 3 ,648,5 40. 9 Chatham ____ _ _ 1,009,1 450,0 6,838,0 836,5 1,185,2 7,365,5 27 .6 People's _____ _ 466,5 200,0 1,816,0 682,8 60.6 2,396,9 31.0 Hanover _____ _ 3,000,0 9,989,6 66,130,4 9,124,6 10,862,6 77 ,09-4 .o 26 .2 Citizens' Cent __ 2,550,0 1,400,7 22,891,9 5,589,3 321,9 23,042,4 25 .9 Nassau __ __ __ _ 392,3 500,0 4,817,6 640,6 698,1 5,181,3 25 .8 Market & Fult' n 1,000,0 1 ,619,9 7 ,868,1 1,370,3 1,046,7 8,266,0 29.4 Metropolltan __ 2,000,0 1,207,5 11,644,1 3,206,0 187,4 12,204,927 .7 Corn Exchange 3,000,0 5,241,2 42,680,0 7,214,0 5,689,0 50,250,0 25.6 Imp. & Traders' 1,500,0 7,416,4 28,021,0 4,560,0 1,700,0 25,881,0 24.3 Park ________ _ 3,000,0 87,604,0 25,279,0 1,403,0 101,253,0 26.4 East River_ __ _ 250,0 9,fgg:g 1,341,0 342,3 179,l 1,639,531.7 Fourth ___ ___ _ 3,000,0 3,363,1 24,817,0 4,293,0 2,3 0,0 25,402,0 26 .3 Second __ ____ _ 1,000,0 1,753,0 10,980,0 2,843,0 292,0 11,952,0 26.2 First--- - - - --- 10,000,0 17,072,2 128,861,6 33,744,6 1,340, l 132,738.4 26 .6 Irving Exch __ _ 1,375,2 19,120,1 4,395,l 967,0 20.470,9 26.3 Bowery ____ __ 2.ggg;g 792,1 2.304,3 754,0 67 ,0 3,265,0 25.1 N. Y. County __ 1,137,4 500,0 7,464,3 1,481,7 740,8 8,302,2 27.5 German -Amer_ 750,0 655,0 4 ,000,3 197 ,6 781,2 3,780,4 25.8 Chase ___ _____ _ 5,000,0 5,617,5 72,561,8 15,488,9 5,378,8 79,591,8 26.3 Fifth Avenue __ 100,0 2,108,l 13,119,8 2,700,6 996,5 14,503 ,0 25.4 German ExclL _ 200,0 892,5 3,335,1 376,1 654,2 4,092,8 25.1 Germania __ __ _ 200,0 993,6 4,672,6 822,9 681,5 5,541,427.1 Lincoln __ __ __ _ 1,000,0 1,278,2 16,242,3 3,589,1 1,088,5 17 ,890,8 26 .3 Garfield ___ ___ _ 1,137,4 1,000,0 7,206,8 1,600,9 424,6 7,318,128.0 Fifth ___ ___ __ _ 250,0 464,4 3,16 1,9 459,4 333,0 3,208,4 25 .0 12 ,223,4 2,000,3 2,122,0 1,072,6 12,692,7 25.0 ~~~;t~?~lt ==== 929,5 4,111,0 951,0 268,0 4,548,0 26 .8 Seaboard _____ _ 1,000,0 1,665,1 20,285,0 5,019,0 1,448,0 24 ,295,0 26. 7 Liberty __ ____ _ 1,000,0 2,512,0 15,394,3 3,893,7 311,6 15,040,7 28 .0 7,047,1 N . Y. Prod. Ex . 1,000,0 670,6 2.036,1 139,7 8,355,3 26.0 State ___ - - - - - 1,000,0 827,7 10,675,0 3,476,0 248,0 13,952,0 26.6 14th Street ___ _ 1,000,0 319,8 4,995,5 789,3 593,7 5,552,7 24.9 Copper ___ ___ _ 2,000,0 2.490,8 20,419,5 4,683,0 233,2 19,881,4 24.9 1:8~!:8 •g~i:~ ·888:8 ·R88:8 1,gg8:8 Totals, Aver_ 126,350,0 165,447,7 1273,220,7 271,626,1 79,548,11320,867,626.7 Actual figures Jan. 2 ___ _______ 1293,502,0 269,916,1 80,922,0 1344,U4,9 21i.2 On the basis or averages, circulation amounted to $50,360,900 and United States iis~~1,.2ig?1t1J~1teJnsi:e~s:r:bo1?ts~8$r:9i?26o~ctual figures Jan. 2: clrculatlon, CONDITION OF NEW YORK CITY BANKS END OF 1909. Dec. 31 1909. 00s omitted. Capital. Surplus. Loans. Average. Specie. Legal~. Deposits. Average. Average. Average. Re- - -$ - - -s- - - - - - -$ - - -$- - -s've. Bank or N. y __ 2,000,0 3,465,5 18,647 .o Manhattan Co_ 2,050,0 4,126,6 28,700,0 Merchant~• ____ 2,000,0 1,693,7 17,097,0 Mechanics' ___ _ 3,000,0 a.851,2 26,457.0 America __ ____ 1,500.0 5,894,9 21,918,0 Phenix ____ ____ 1,000,0 685,5 8,306,0 City ___ _______ 25,000,0 28,853,0 166,736,1 ChemlcaL __ ___ 3,000,0 6.183,0 28,073,0 Merchants' Ex_ 600,0 568,2 6,453,9 Gallatin ___ ____ 1,000,0 2,443,1 8,006,9 Butch. & Drov _ 153,4 300,0 2,418,9 Greenwich _____ 777,4 7,461,9 500,0 Amer. Exch ___ 5,000,0 5,095.1 29,176,5 Commerce _____ 25,000,0 15,694,3 i::rn,464,0 Mercantile _____ 3,000,0 2 14 ,162,8 500,0 3,665,3 Pacific 1,026 ,2 450,0 7,007,1 Chatham ====== People's _______ 477,5 200,0 1,952,6 Hanover ______ 3,000,0 11 ,101,l 59,624,0 Citizens' Cent __ 2 20,878,9 Nassau _______ 1.m:~ 6,155,1 Market& Fult'n 1,000,0 1,668.0 7 .819,3 Metropolltan __ 2,000,0 1,392,9 12,623,0 Corn Exchange_ 5,254,1 3,000,0 41,597 .o Imp. & Traders' 1,500,0 25,376,0 Park _________ 3,000,0 80,000,0 East River ____ 250,0 105,2 1,600,9 Fourth ________ 3,000,0 3,543,1 20,015,0 Second ________ 12,390,0 1,000,0 1,899,3 First ____ _____ 10,000,0 19,808,6 102,181,0 Irving Exch ___ 1,516,3 21,135,8 2.ggg:g Bowery _____ - 802,0 3,714,0 N. Y. County __ 500,0 1,642,4 7,850,1 German-Amer _ 750,0 667,5 4,196,9 Chase ____ __ _ - 5,000,0 7,040,4 72,994,3 Fifth Avenue __ 12,897,1 100,0 2,069,9 German Exch __ 200,0 894,0 3,708,0 Germania _____ 200,0 1,006,5 4,789,7 Linc oln _______ 1,000,0 1,408,9 16, 720,6 Ga rfield _______ 1,147,1 7,783,0 Fifth ____ _____ 1.ggg:g 483,5 3,512,l Metropolis _____ 11,265 ,9 1,000,0 2,020 ,2 W est Side _____ 1, 139,0 4 ,365,0 200,0 Seaboa rd ______ 1,821,6 1,000,0 17,669 ,0 1,000,0 2,704 ,4 16,679,5 ~l_b v_tf.rod .-Ex~ 7 ,915,3 1,000 ,0 705,4 Sta te ______ ___ 14,23 1,0 1,000,0 863,0 14th Stree t ____ 1,000,0 334,5 5,401,3 Cop per _____ ___ 2.000 ,0 2 ,834,3 25,996,9 Coal & Iron ____ 1,000,0 5,821,0 326,3 ·ii9:~ •gs8:8 a~g 2,978,0 6,752,0 2,805,0 3,250,0 3,444,6 1,912,0 35,578,0 4,587,0 1,493,1 1,183,4 474,3 1,789,7 4.759,9 20,824,6 1,995,0 511,4 886,9 581,3 9.078,9 4,859,5 574,9 1,139,2 3,172,9 8,079,0 3,5~2,0 22.M:g 3,463,0 2,364,0 20.802,0 4,597,8 d8t~ 812,3 14,518,0 2,gg3:g 840,3 3,769,0 2,133,5 616,0 1,110,7 944,0 3 ,921,0 3,178,9 2,154,2 4,176,0 1,038,9 5,746,5 881,0 'fo 1 ,102,0 15,974.0 2o. 1,707.0 32,450,0 26. 1.439,0 16,613,0 25. 2,433,0 25,454,0 22.3 1,885,8 21,403,1 24. 407,0 8,077,0 29 . 4, 55,0 154 ,152,3 26 . 2,229,4 26,127,4 26 . 158,7 6,465,9 25. 406,7 6,102,4 26 . 5,5 2,514,8 22. 200,0 8,275 ,5 24 . 1,475,6 22,843,1 27. 8,567,2 114,255,9 25. 874,3 10,807, 7 26. 3,425,2 29. 507,4 1,085,4 7,485.9 26. 111,5 2,510,7 27. 7,377 ,1 66,068,0 24. 328.7 20.117,2 25 . 6,762,5 24 . l,~gg:~ 7,555,5 26 249,2 13,045,1 26 . 4,475,0 49,097,0 25. 2,090,0 22,583,0 25 . 1,067,0 89.673,0 25. 93,4 1,899,9 28 . 2,140,0 21,533,0 26 . 699,0 12,060,0 25 . 1,707,9 89,950,0 25 . 1,194,7 22 ,428,3 25. 54,0 3 ,870,0 24. 651,9 7 ,953,6 25. 215,5 4,074.6 25. 3,901,8 76,550.6 24. 1,104, 6 14,523 ,0 25. 500,0 4,200,0 26. 494,4 5,454,1 24. 774,3 18,20 4,0 25. 297.3 8,3 64,2 29 . 271 ,2 3,602,3 24. 1,906,8 11,398, 4 26 ." 258,0 4,702 ,0 25 . 1,439,0 20,235 ,0 26 . 842,3 15,942 , 7 25. 243,9 9 ,400,4 25. 298,0 17 ,535 ,0 25. 610 ,2 6, 145 ,0 26 . 344 ,2 26,023,2 23. 628,0 5 ,843 ,0 25. --- --- ---- --- --- ----- ----- - - - - - - - - - - -Dec. 31 1909 ll96,598.0 228,097,3 Totals, Average 127,350,0 180 ,024,4 1194,610,7 231,390 ,4 67,730,9 1171,732,4 25 . Actual figures --- 68,257 ,4 1171,462,4 25. On the b:isls of averages, circulation amounted to $52 497,400 and United States deposits (Included In deposits) to $1,612_.300; actual figures Dec. 31, clrculatlon, $52,479,100; United States deposits, $1,5::>9,800. CROP AND OTHER PRODUCTIONS. CEREALS, IRON AND COAL PRODUCT. OUR HARFES'PS IN 1909 The final estimates of production of our grain crops in 1909, as made public by the Crop Reporting Board of the Department 'of Agriculture , disclose a situation much better than in the previous year, but at the same time in some instances indicate how greatly an excellent early promise can be marred by adverse weather conditions. Almost without exception the harvests have been in excess of 1908-conspicuously so in one or two cases-but the corn crop, from which so much was expected in vievv of the large increase in area, has proved to be somewhat of a disappointment. From an area estimated at 7 .1 % greater than in 1908 a product not quite 4% larger has been secured. In other words, the yield for the current year is put at 2,772,376,000 bushels, or 103¾ millions of bushels more than in 1908, whereas on the first of August expectations were for a crop of over 3,000 million bushels. It is true of course that the 1909 product exceeds any other in our history except that of 1906, hut in the meantime there has been an important addition to area (nearly 12½%) that under normal conditions should have assured an appreciably arger crop. The causes responsible for the lowering of the promise in this leading cereal are not far to seek. During July drought was complained of in the Southwest and by August was operative over much of the country west of the Mississippi River. It is also to be noted that as a result of the same adverse development the cereal suffered in quality, reducing its food value materially . The wheat crop of 1909, according to the final estimate, exceeds that for the previous year by 72½ millions of bushels and 1907 by 103 millions, and is 2 millions larger than for 1906. In fact, it has been exceedeabutonce, and then in 1901, when the country's yield was 748½ millions of bushels. Moreover, the average product per acre at 15.8 bushels is better than ever before reported, exceeding by three-tenths of a bushel the out-turn of 1906 and by eight-tenths the average of 1901, the larger crop of that year being explained by the fact that the acreage then was nearly 7% greater. With conditions during the growing season well above the average, the spring-wheat yield for 1909 turned out considerably better than that for 1908 and shows more or less augmentation over earlier seasons back to 1901, which year it also slightly exceeds. It is stated at 290,823,000 bushels, ' against 226,694,000 bushels in 1908 and 224,645,000 bushels in 1907. Winter wheat did less well than the spring product, yet the year's yield, which is now stated at 446,366.000 bushels, is 8½ million bushels more than in 1908 and has been but twice exceeded-in 1906 by 46 .½ million bushels and in 1901 by 12 millions. Combining the two varieties we have an aggregate wheat crop for 1909 of 737, 1~9,000 bushels, against 664,602,000 bushels in 1908 and 634,087,000 bushels in 1907 . The record yield of 19Ql was 748,460,218 bushels. The quality of the grain is better than last year and above the average. In oats, favorable conditions pretty much throughout the season have given a yield exceeding all former https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis records and of exceptionally high quality. The Department makes the crop for the current season 1,007,353,000 bushels, or 200 million bushels more than in 1908 and 2,53 mirnons greater than in 1907. Compared with the former record (1902) t here is a gain of about 20 million bushels. This season's yield of barley at 170,284,000 bushels slightly exceeds the crop of 1908 but falls behind the product of 1906 (the record) by 8½ millions. Quality, however, is lower than in 1908 or any recent year. Rye records a small in crease in yield, the Department reporting the 1909 crop as 32,239,000 bushels, against 31,851,000 bushels in 1908. As indicating the total yield each year for the last five seasons of the five cereals referred to (corn, wheat, oats, barley and rye), we present the following table. CROPS OF WHEAT, CORN, OATS, BARLEY AND RYE. Totat, Productt.on. Corn _____ Wheat ___ Oats ______ Barley . __ Rye______ 1909. 1907. 1906. 1905. I- -1908. - - 1-- - - - 1 - - - - - 1 - - - - Bushels. I Bushels. Bushels. Bushels . Bushel,s . 2,772,376,000 2,668,651,000 2,592,320,000 2,927,416,091 2,707,993,540 737,189,000 664,602,000 634,087,000 735,260,970 692,979,489 1,007,353,000 807,156,000 754,443,000 964,904,.522 953,216,197 170,284,000, 166,756,000 153,597,000 178,916,484 136,651,020 32,239,000 31,851,000 31,566,000 33,374,833 27,616,045 Total_ __ 4,719 ,441,000 4,339,016,000 4,166,013,000 4,839,872,900 4,518,456,2~1 I The aggregate production of the five leading grain crops, it will be observed, is 4,719,441,000 bushels in 1909, against 4,339,016,000 bushels in 1908, 4,166,013,000 bushels in 1907, 4,839,872,900 bushels in 1906 (the record) and 4,518,456,291 bushels in 1905. . Potatoes have done relatively better than any of our important food crops this year. The yield is estimated at 376,537,000 bushels, the largest crop ever raised, and showing an increase over 1908 of nearly 100 million bushels. Moreover, it exceeds the former high water mark by 44 million bushels. The larger product is in no sense to be ascribed to increased area, the average yield per acre having been 106.8 bushels, a figure very seldom closely approached and very rarely exceeded. Qualityis alsoabovetheaverage. Cultivation of rice continues to make · satisfactory progress in the United States. From the largest area yet planted a better average yield per acre has been secured, giving a total crop, as estimated, of 24,368,000 bushels, as compared with 21,890,000 bushels in 1908 and 18,738,000 bushels two years ago. The hay crop, owing to dry weather, has been somewhat of a disappointment. Acreage was decreased last spring and from the land remaining a decreased average product was secured, so that the aggregate yield reaches only 64,938,000 tons, against 70,798,000 tons in 1908 and 63,677,000 tons in 1907. The tobacco crop exceeds the production of any former year and is a little above the average in quality. The production is placed at 949,357,000 pounds, which contrasts with 781 ,061,000 pounds in 1908 and the earlier record of 868,112,865 pounds made in 1899. Jn addition to estimating the crops quantitatively, the Department purports to show their value to the producer on the basis of the farm value per bushel, &c., on Dec. 1. Without comment, we present a table giving the values for the five principal crops for five years. CROP A D OTHER PRODUCTIO S. FARM VALUES ON DECEMBER l. Crops, 1909. 1908. I 1907. 45 CORN CROP FOR FIVE YEARS. 1905. 1906. - - - -1---s---1---s--1---s--11 - --s--1---s-•Corn _____ 1,652,822,000 1,616,145,000 1.336,901,000 1. 166,626,479 1,116,696,738 Wheat __ 730,046 000 616,826.000 554,437,000 490,3::l2,760 518,372,727 Oats______ 408,174,000 381,171.000 334,568,000 :m6,292,978 277,047,537 Barley ___ 93,971,000 92 442,000 102,290,000 74 ,235,997 55,047,166 Rye______ 23,809,000 23,455,000 2::J,068,000 19,li7l,24::J 17,414,138 Total_ _ _ 2,908,822,000 2,730,039,000 2,351.264,000 2,057,159.45, 1.984.f,78,306 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 herewith appended. AVERAGE PRICES RECEIVED BY FARMERS AND PLANTERS. Production, 1909 . Corn. Iowa _____ Illinois. ___ Kansas ___ Missouri __ Nebraska _ Indiana Ohio ___ -== Texas _____ Tennessee_ Kentucky _ Penn'a __ __ Arkansas __ Wisconsin Michigan __ Minnesota. Oklahoma_ Bushels. 289,800,000 369,770;000 154,225,000 213 ,840,000 mJ~8:888 153 .062,000 122,250 ,000 7~.650,000 103,472,000 48,800,000 50,400,000 50,589,000 69,950,000 5R ,812.000 101,150,000 Productton, 1908. Bushels. 287,41>6,000 298,620,000 156,200,000 203,634,000 205,767,000 137,835,000 136 ,675,000 201,848,000 83,080,000 84,823,000 57,275,000 54,035,000 49 ,674,000 60,420,000 46,835,000 122 ,239,000 Production, 1907. Production, 1906. Production, 1905. Bushels. 270,220,000 342,756,000 155, 142,000 241,025,000 179,328,000 168,840,000 117,640,000 155,589,000 78,364,000 93,060 ,000 45,922,000 43,430,000 46,688,000 57,190 ,000 43,605 ,000 113,265,000 Bushels. 373,275,000 347,169,585 195,075,000 228,522,500 249,782,500 183,893,767 141,645,100 155,804,782 86,428 ,912 105,437,376 57,960,239 52,802,569 60 ,105,732 54,575,000 50,149,277 134,230,5901 Bushels. 305,112,376 382,752,063 193,275,836 203,294,798 263,551,772 187,130,623 112,399,396 139 ,146,404 77,207,912 94,893,638 56,085,903 38,323,738 55,407,849 41 ,775,936 4 ,997,455 110, 442,368 Total. .. 2,255,350,000 2,186,416,000 2,152,064,000 2,476,857 ,92912,309 ,798,037 517,026,000 482,235,000 440,256,000 450,558,162 398 ,195,473 All others Cents. Wheat ________ per ~;1shel 99.0 73.9 Rye --- ----- -40.5 Oats Barley . _. ____ _ 55. 2 59 .6 .Corn Buckwheat ___ _ 69.6 P otatoes _____ _ 54.9 Flaxseed _. ___ _ 152 .6 Rice ___ ______ _ 79.4 Cents. 92.8 73.6 47.2 55.4 60.6 75.6 70.6 118.4 81.2 Cents. 87 .4 73. l 44.3 66.6 51.6 69. 61.7 95.6 85.8 Cents. 66.7 58.9 31.7 41.5 3:1.9 59.6 51. 1 101.3 90 .3 Cents . 74 .8 60 .7 29. l 40. 3 41.2 58.7 61.7 84 .4 95 .0 Cents. 92. 4 Tota l U. S. 2,772,376,000 2,668,651,000 2,592,320,000 2,927,416,091 2,707 ,993,540 tiS .8 OATS CROP FOR FIVE-YEARS. 31.3 .0 .1 62 .2 45.3 9ll.3 65.8 1 Oats. Illinois ____________ Iowa ____________ ._ Minnesota ______ ___ Wisconsin _________ Kansas ____________ Ohio ---- --------Missouri. __ . ___ ___ . Pennsylvania __ .. __ New York ___ ______ Michigan __________ Nebraska __________ Indiana ___________ North Dakota __ ____ South Dakota ______ Texas - -- - -- ------ I Production, Pmauawn , P,Mu"Wn, Productio>1,, Production, H)09. 1908. 1907. 1906. 1905. Bushels 159,064,000 116,100,000 90,288, 000 79,800,000 27,1 5,000 56,225 ,000 18,630,000 25,948,000 37 ,:rn5,ooo 4:l,3 10,000 61,825,000 55,510,000 49,600,000 43,500,000 11 ,500,000 Bushels. 94,300,000 110,444,000 59,004,000 73,085,000 21,868,000 38,544,000 13,510,000 27,382 ,000 37,625,000 41 ,847,000 56,078,000 35,425,000 32,737,000 31 ,395,000 21,675,000 Bushels. 101,675,000 108,900,000 61,985,000 51,700,000 16,380,000 36,480,000 14,254,000 29,689,000 37,086,000 30,534,000 51,490 ,000 36,683,000 32,340,000 32,728,000 9,500,000 Bushels. 107,763,500 140,777,000 72,0ll,160 91,630,000 24,780,000 48,380,000 14,685,503 31.816,496 40,233,784 43,747,500 72,275,000 50,196,000 40,485,608 46,410,000 31,822,512 Bushels. 132,779,762 131.115,180 80,669,700 98,579,988 23,248,223 37,993,108 19,684,885 39,480,324 43,030,782 35,948,951 58,474,370 47,432,822 46,594,381 28,103,517 28,713,416 In addition to the above, the farm value of hay Dec. 1 is stated at $10 62 per ton, against $8 98 per ton last year, $11 68 in 1907 and $10 37 in 1906. The value of tobacco at 1.0.1 cents per pound this year -compares with 10.3 cents last year, 10.2 cents in 1907 and 10 cents in 1906. Total. ___________ 875,850,000 694 ,919 ,000 651 ,424,000 857,014,063 851.849,409 We now append a table showing the wheat, corn, All others _______ ___ 131 ,503,000 112,237,000 103,019,000 107,890,459 101,366.788 oats, cotton and potato crops for the last 28 years- Total United States. I007<l5:-l,000 807 ,156.000 754,443,000 964,904,522 953,216.197 1882 to 1909, inclusive-thus giving opportunity for LAST YEAR'S LARGE IRON PRODUCTION. the reader to see at a glance the comparison the 1909 With the commendable promptness which characfigure.:i make with tho e for a more extended period of terizes all of his work, Mr. James M. Swank, of the years than in the compilations given further above. American Iron and Steel Association, at the close of CROPS· OF WHEAT, CORN, OATS, POTATOES AND COTION SINCE 1881. January gave out the statistics of iron production in Wheat. Corn. Potateos. Oats. Year. Cotton.* the United States for the calendar year 1909. The Bushels. Bushels. Bushels. Bushels. Bales. figures reflect the extraordinary activity which <level1,617,025,100 504,185,470 488,250,610 6,992,234 170,972,50 1882 -----1883 ------ 421,086,160 1,551,066,895 571,302,400 5,714,052 208,164,42 ~ oped in the iron and steel trade during the latter half 1884 ______ 1,795,528,000 583,628,000 5,669,021 190,642,00 512,765,000 1,936,176,000 629,409,000 6,550,215 175,029,00g of the year, and show a product in excess of that for 1885 ------ 357,112 ,000 1886 ------ 457,218,000 1,665,441,000 624,134,000 6,513,623 168,051,00g any previous calendar year. The contrast with the 456,329,000 1,456,161,000 659,618,000 7,017,707 134,103,00 1887 --- - - 415,868,000 1,987,790,000 701,735,000 6,935,082 202,365,00 ~ year immediately preceding is 188 most noteworthy. 1889 =====j 490,560,000 2,112,892,000 751,515,000 }7,313,720 204,881,44 1889 (Cen)1 468,373,968 2,122,327,547 809,250,666 217,546,36 2 That was the year following the 1907 panic , and the 1890 ------ 399,262,000 1,489,970,000 523,621,000 8,655,616 148,289,69 1891 ----- - 611,780,000 2,060,154,000 738,394,000 9,038,708 254,423,60~ total product for the twelve months reached only 1892 -- ---- 515,949,000 1,628,464,000 661,035,000 6,717,147 156,654,81 For 1909, on the other hand, the 1893 ------ 396,131,725 1,619,496,131 638,854,850 7,527,212 183,034,20g 15,936,018 tons. 1894 ------ 460,267,416 1,212,770,052 662,086,928 9,892,761 170,787,33 g make of iron was almost 10 million tons larger, it 1895 ------ 467,102,947 2,151,138,580 824,443,537 7,162.476 297,237,37 1896 --- --- 427 ,684,347 2,283,875,165 707,346,404 8,714,011 252,234,54 ~ amounting to no less than 25,795,471 tons. The pre1897 ----- - 530,149,168 1,902,967,933 698,767,809 ll,180,960 164,015,96 1898 ------ 675,148,705 1,924,184,660 730,905,643 11,235,383 192,306,33 8 vious high records were 25 ,781,361 tons in 1907 and 2,078,143,933 547,303,846 796,177,713 2 228,783,23 }9,439,559 1899 -----{ 658,534,252 2,666,440,279 943,389,375 1899 (Cen) 25,307,191 tons in 1906, both of which have thus been 522,229,505 2,105,102,516 809,125,989 10,425,141 210,926,89 1900 a-----1901 ____ _ 748,460,218 1,522,519,891 736,808,724 10,701,453 187,598,08❖ surpassed, though not very largely; the increase over 1902 ------ 670,063,008 2,523,648,312 987 ,842,712 10,758,326 284,632,78 b the banner year 1907 being, in fact, quite trifling1903 ------ 637,821,835 2,244,176,925 784,094,199 10,123,686 247 ,127,88 1904 ------ 552,399,517 2,467 ,480 ,934 894,595,552 13,556,841 332,830,30 ~ only 14,110 tons. 1905 ------ 692,979,489 2,707,993,540 953,216,197 11,319,860 260,741,29 964,904·,522 13,550,760 308,038,38 ~ 1906 ------ 735,260,970 2,927,416,091 When the results for t he last two years are divided 1907 -- ---- 634,087,000 2,592,320,000 754,443,000 11,581,329 297,942,00 1908 ------ 664,602,000 2,668 ,651,000 807,156,000 13,S28,846 278,985,00 o into half-yearly periods, a continuous record of growth 1909 ------ 7:J7 ,189,000 2 ,772,376,000 1007,35:3 ,000 d 11231000 376,537,00 0 is disclosed. In the first half of 1908 the previous a These are the revtsed grain figures of the Agricultural Department Issued after large iron output was cut almost in two , only 6 ,918,004 the Census reported Its results for 1899, showing much larger totals than those or tons being made. In the second half of 1908, with the the Department. * These are our own figures. d Average estimate of th nomination and the election of Mr. Taft , and with a me m bers of the New York Cotton Exchange. feeling that his policies would be conservative, the For the information of the reader, the product by product increased to 9,018,014 tons. In the first States for the leading cereal crops is herewith presented half of 1909 the showing was still better, with an outWHEAT CROP FOR FIVE YEARS. put of 11,022,346 tons. In the last half of 1909 the -prodigious figure of 14,773,125 tons was reached. Production, Productwn, Product·wn, Production, Product1.on, Wheat. 1909. . 1905. 1908. The magnitude of the latter total will appear when we 1907. 1906. say that the previous high figure for a six months' peBushels. Bushels. B,µahels. Bushel8. Bushel,. Ohio ------ ------ - 23 ,532,000 33,328 ,000 30,677,000 43,202,100 32,197,710 Indiana _________ __ 33,124,000 45,169,000 34,013,000 48,080,925 35,351,464 riod was fully 1¼ million tons below this result. The Minnesota _____ __ __ 94,080,000 68,557,000 67,600,000 55,801,591 72,434,234 Kansas. ____ __ _____ 87,203.000 79,282,000 65,609,000 81,830,611 77,001,104 maximum referred to was attained in the first half of Callfornla ____ _____ • 11,550,000 11,680,000 20,520,000 26,883,662 17,542,013 Illinois ___________ _ 31, 19 1,000 30,212,000 40,104,000 38,535,900 29,951,584 1907, when the official statistics showed a make of North Dakota _____ _ 90,762,000 68,428,000 55,130,000 77,896,000 75,623,044 13,478,044 tons, as against the aggregate of 14,773,125 outh Dakota ._ .. __ 47,.'i8Sl,000 37,862,000 32,480,000 41,955,400 44,133,481 -sMissouri _. _________ 28,562,000 '.!2,260,000 29,212,000 The following is a 28,022,338 tons in the second half of 1909. Michigan ___ _______ 14,570, 000 15,732,000 12,731,000 f½:m:~ig 19,003,274 Pennsylvania ______ 26,265,000 29,415,000 30,095,000 29,073,188 27,860,671 half-yearly record extending back to 1898. regon __________ __ 1 0 Wlsconsn ___ ______ Nebraska . __ ___ __ __ Washington _______ Iowa _____ _____ ____ 1 16,377, 000 15,148,000 15,265,000 14,215,597 13,382,585 3 ,484,000 3,328,000 2,955,000 4,690,816 7,893,381 49,fl50, 000 44,295,000 45,911,000 52,288,692 48,002,603 3:'>, 780,000 27,162,000 35,045,000 25,075,258 32,516,810 7,446,000 8,068,000 7,653,000 9,212,218 13,683,003 Total._._. _______ 601,467, 000 539,926,000 525,000,000 594,121,818 574,599,299 All others ___ ___ ____ 135 ,722 ,000 124 ,676,000 109,087,000 141,139,152 118,380,190 T otal United States a 737 ,189,000 664,602,000 634,087 .ooo 735,260,970 692,979,489 a Of which 446,366,000 bushels winter wheat and 290,823,000 bus hels spring wheat In 1909, against 437,908 ,000 bushel'! winter wheat anrl 226,694,000 bushels pring whea in l~U~ . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PRODUCTION OF PIG IRON Gross Tona . half. ___ ___ _______ 5,869,703 h alf. ____________ _ 5,904,231 half. _______ ___ ___ 6,289,167 half_ _________ ____ 7,331,536 half_ _____________ 7,642,569 half. ___ ______ ____ 6,146,673 half. ____________ _ 7,674 ,613 hll.lL _______ . _____ 8,203,741 half_ ______ __ -- --- 8,808,574 halt. _____________ 9,012,733 h alL ___________ . - 9,707,367 half. ____ _ ... . -- 8,301,885 1898-lst 2d 1899-lst 2d 1900-lst 2d 1901-lst 2d 1902-lst 2d 1903-lst 2d IN HALF-YEA RLY PERIODS. Gross Tons . 1904-lst h alL . __ -- __ -- __ -- 8,173,438 2d h alf. _______ ___ ___ 8,323,595 1905-lst halL _. -- ______ -- _ll,163,175 1906-iit 2d 1907-lst 2d 1908-lst 2d 1909-lst 2d ~U= ==: ==________ ==: ===:U:m:~ig half. = _____ 12,724,941 bait. ... ________ __ 13,478,044 half ______ __----- _12.303,317 ha lf. _____________ 6,918,004 half. ___ ___ _______ 9,018,014 balL. _. ___ -- -- ___ ll,022,346 half . _____________ 14, 773, 1!5 46 CROP AND OTHER PRODUCTIONS. In the first quarter of 1909 it did not seem likely that all previous maximums would be excelled. There was a time in these early months when the iron and steel industry appeared to be in a critical condition. In February the U. S. Steel Corporation found itself obliged to depart from its policy of maintaining price stability, owing to the severe cutting of prices by outside producers, and for a while very low prices for iron and steel and all their products prevailed. In March further cuts in iron and steel prices occurred, and such was the situation that nearly all the large companies outside the U. S. Steel Corporation announced reductions in wages, the reductions generally amounting to 10% and being scheduled to go into effect April 1. The list of companies reducing wages included the Lackawanna Steel Co., the Pennsylvania S teel , the Maryland Steel, the Jones & Laughlin Co., the Cambria and the Republic Iron & Steel. Thereafter, however, the situation quickly improved. Confidence that the new Administration would pursue a wise policy steadily increased, and the President's acts in many little ways did much to encourage this belief. The pending tariff legislation injected some uncertainties, but on the whole no great apprehensions were entertained of very radical cuts in tariff duties on iron and steel articles. When a tariff measure was finally enacted, this view was seen to have been .fully justified. The rapidity with which recovery ensued is illustrated by the fact that the lower schedules of wages remained in effect for only the brief period of three months. By the first of July all the leading companies had restored the old wages. The last half of the year revival of activity proceeded at such a pace that nearly every month showed a new high record of iron production. The sensitiveness of the iron and steel trade to changes in general business conditions is proverbial, and the wide expanse between the make of iron in a period of extreme depression, such as prevailed in the early half of 1908, and the output in the latter half of 1909, when normal conditions had been restored, should be a warning to our legislators not to entertain schemes of legislation calculated to disturb business confidence. One feature of the iron and steel industry during the late year was the enlarged exports of iron and steel and their products. On the other hand, in the closing months of 1909 the home demand for iron and steel was of such magnitude that home supplies did not altogether suffice, and accordingly the importations again assumed somewhat larger magnitude. Taking not merely the shipments and imports of pig iron alone, but of all kinds of iron and steel, it is found that the exports for the calendar year, according to the Custom House statistics, aggregated 1,Z43 ,461 tons _, against 964,243 tons for the calendar year 1908, while the imports reached 362,501 tons, against 205,755 tons. In the following we show the relations between the imports and exports for each of the last six years. IMPORTS AND EXPORTS OF ALL KINDS OF IRON AND STEEL. 1909. 1908. 1907. 1906. 1905. 1904 . Imports _______ tons 362,501 205,155 662,350 578,209 416,454 266,398 Exports ____ __ ____ *l,243,461 *964,243*1,301,981*1,325,740 1,010,384 1,167,709 --- Excess of exports ___ 880,960 - - - - - - ---- - - 758,488 639,631 747,531 593,930 1907. 1908. I 1906 . I 1905. I 1904 . 1 Total supply __ 25, 795,47115,936,018 25,781,361 25,307,191 23,438,822 17,095,522 (?) ('?) Stock end or year *446,442, 446,442' <?> <?> I Cons'n home pig_ 25, 795,47~ 1I15,936,018 25,781,361 25,307,191 22,992,380 16,649,080 Imports of pig ___ 174,988 92,202 489,475 379,828 212,4651 79,500· I 26,270,836 25,687,019 23,204,845116, 728,580. Total-------Exports or pig ___ 25,9J~:tgi116,0!~::ii 73,703 83,317 49,221 49,025 Domestic cons'n_ 25,908,460~15,981,524 26,197,133J25,603, 702 23,155,624 16,679, 555• No data as to stocks were furnished at this time; we have taken the amount the same as a t the end of the previous year. It is always interesting to note the distribution of iron production among the different States and geographical divisions of the country. We furnish further below a record of this kind covering the last seven years. The feature of this record is the relatively slow growth of the South. Alabama in 1909 made 1,763,617 tons, which is far in excess of the best previous record for any calendar year, but notwithstanding the expansion in that State, the South as a whole made much lessiron than in any recent year with the single exception of 1908. Pennsylvania also failed to equal its results in the best of previous years, but Ohio is forging ahead at a striking rate and New York also has surpassed its best previous aggregate. Illinois likewise shows considerable advance, and such is the progress of Michigan that that State combined with Indiana in the late year made almost a million tons of iron. PRODUCTION OF PIG IRON BY STATES. Tons 2,240 tbs. 1909. 1908. 1907 . 1906. 1905. 1904 . 1903. South. Tons. Tons. Tons . Tons. Slates. Tons. Tons . Tons . Ala __ 1,763 ,61 7 1,397 ,014 1, 686 ,674 1,674,848 1,604,062 1,453, 513 1,561 ,3 98, 478,771 510,210 Va 391 ,134 320,458 483,525 310,526 544,034' 426,874 Tenn.~ 333,845 290,826 372,692 393, 106 302,096 418,368W . Va 65,551 291,066 228.282 304,534 298, 179 270,945 199,013 86 ,371 127,946 98,127 63,735 45 ,096 37,106 102,441 Ky -Ga -- 1 75,602 1 70,156 24,345 55,825 92,599 38,699 J N. C - f 26 ,072 5,530 11,653 TexaB . J Md __ 183,502 411, 33 386,709 332,096 293,441 286 ,856 324,570 TotaL 3,116 , 1,77 2,326,792 3,445,221 3,467,216 3 ,219,673 2,743,31 3 3,237,07.9 Penn .. 10,918 ,824 Ohio _ 5,551,545 N . y_ 1,733,675 N . J __ 294,474 Illln's . 2,467,156 Mich.a 964,289 348,177 Wlsc.b Mo .c _ 382, 766 Massd 18,388 6,987,191 2,861,325 1,019,495 225,372 1,691,944 348,096 148,938 313 ,0 71 13,794 11,348,549 5,250,687 1,659,752 373,189 2,457,768 436 ,507 322,083 468,486 19,119 11,247,869 5,327,133 1,552,659 379,390 2,156,866 369,456 373,323 413,040 20,239 10,579,127 7,644, 321 8,2 11.500 4,586,110 2,977,929 3,287 ,434 1,198,068 60.;i, 709 552 ,917 311,039 262,294 211,667 2,034,483 1,655,991 1,692,375 2 8,704 233,225 244,709 351,415 210,404 283,516 407,774 151,776 270,28~ 15,987 12,071 17,766 Gr Tot 25,795,471 15,936,018 25,781,361 25,307,191 22,992,380 16,497,033 18,009,252 a Including Indiana. b Including Minnesota. ton and California. d Including Connecticut. c Including Colorado, Washing- The range in prices was very wide during the twelve months , as already indicated. Steel billets_ at the mills in Pittsburgh were $25 per ton when the year opened; in March there was a drop to $20, but by the latter part of November the quotation had got up to $27 50. Bessemer pig iron at Pittsburgh from $17 40 on Jan. 1 dropped to $15 65 in April, but by Oct. 20 was up to $19 90, and in the case of other iron and steel products the course of values was much the same. In the following we attempt to show the variations in prices by giving the quotation at the beginning of the year and that at the end of the year, and also the high and low points for the year, each with dates. Price l 901,311 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 insbnce the purpose is to show merely the consumpt ion of pig iron. It will be seen that the domestic consumption on that basis figures out 25,908,460 tons for 1909, against 15 ,98 1,524 tons for 1908, but against 26,197 ,133 to ns for 1907. I Tons of 2,240 lbsl 1909. (?) Stock or pig Jan.i i. (?) (?) (?) - I. 446.442 598,489• Produc. dur. year 25, 795,4 71 15,936,018 25,781,361 25,307,19122,992,38016,497,033, --- * Includes ror 1909 162,140 tons; for 1908, 11 4,370 tons; tor 1907, 176.831 tons, and tor 1906. 141,784 tons, ot pipes and fittings , these being the firs t years when the weights for this Item were reported . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PIG IRON PRODUCTION, STOCKS, IMPORTS, ETC . Jan. 1909. Old Iron T ralls_a No.2 fdy .p . Iron a Basic pig tron_a _ Gray t'ge p . Iron b Bessemer p. lronb Steel blll.,at mlllsb 21 17 16 15 17 25 a At Philadelphia. 25 25 75 40 40 00 b RANGE FOR YEAR 1909. Price ' - - - - - - - - - - - - - - - - ,Dec. 31 Law. 17 16 15 14 15 20 00 00 00 40 65 00 Mch Apr Mch Mch Apr 11 to 28 to 31 to 17 to 21 to Mch 1909 . High. s May 6 21 25 J a n May 19 19 00 Oct May 1919 00 Oct May 26 17 40 Nov May 519 90 Oct 3 27 50 Nov 1 27 27 17 20 24 to to to to to to Jan Dec Nov Dec Dec Dec 20 31 10 31 31 31 s 20 19 18 17 19 27 50 00 75 40 90 50 At Pittsburgh. We add still one other table to indicate the average yearly prices on leading articles of iron and steel. This registers, it will be seen , only slightly higher averages for 1909 than for 1908, but much below the corresponding; averages in the three preceding years. For steel billets the average is even below that of 1908;· in other words, at $24 61 for 1909, the comparison is with $26 31 for 1908, $29 25 for 1907 and $ 27 43 for 1906. CROP AND OTHER PRODUCTIONS. AVERAGE YEARLY PRICES OF IRON AND STEEL, 1902 TO 1909. 1909. 1908. 1907. 1906. 1905. 1904. 1903 1902 . S s· Old Iron Trails at Phlla ____ ton_l9.42 18.60 23.88 23 .05 22 .08 16 .22 21.17 23.83 No. l anth. fdy. plgatPhlla. " 17 .80 17 .70 23.89 20.9 17.89 15 .57 19.92 22.19 -Gray forge pig Iron, Lake ore, at Pittsburgh ___________ " 15.55 15 .23 21.52 19.85 15.62 12 .89 17.52 19.49 Bessemerplglronat Plttsb __ " 17.41 17 .07 22.84 19.54 16.36 13 .76 18.98 20.67 .Steel rails at mills In Penn __ " 28.00 28.00 28 .00 28.00 28.00 28 .00 28 .00 28 .00 .SteelbllletsatmlllsatP lttsb." 24.6 1 26.31 29.25 27.43 24.03 22.18 27.91 30.57 .Best refined bar Iron from store a t Phtladelphia_l00 lbs. 1.75 1.70 2.11 1.98 1.92 1.72 2.00 2.13 A~- ANTHRACITE COAL PRODUCTION IN 1909. Unlike the general rule in other industries, anthracite -coal production for 1909 shows a decrease instead of .an increase. But past experience proves that the .anthracite trade very often follows a course of its own. Industrial revival during the year had the effect of stimulating production in all directions, but the anthracite trade is not so readily amenable to changes in general business conditions as other leading branches of the country's activities. Thij reason lies upon the surface . It is 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. For that reason this class of fuel is far 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. It should also be remembered that while soft coal is found nearly -every_where _outsid~ of the New England States, assurmg for 1t a wide use, the anthracite fields are of s mall area and practically limited to one StatePennsylvania. For manufacturing requirements therefore, use of hard coal is necessarily confined to th~ sections of country in relatively close proximity to the anthracite regions, since freight charges would make the coal too costly if shipped long distances. · It appears that the anthracite shipments to market during 1909 reached only 61,969,885 tons, as aaainst 64,665,014 tons in 1908 and 67,109,393 tons in t,1907. It will at once appear from this comparison that the iaping off in 1908 at ~ time when the country's industries generally were m a state of extreme paralysis was relatively small. The decrease in that year was roughly, only 2½ million tons, or less than 4%. Th~ sm~ll extent of the loss was the more noteworthy, seemg that the 1907 total had been much the largest ever reported, the suspension of mining during April and May of the previous year having cut the 1906 production to low figures and induced an exceptional output in 1907. In t he fact that the · 1908 product had been maintained so close to the unprecedented output of 1907, we ~ave no doubt one reason for the diminished prod~ic_t10n of 1909. It should be observed that the falling off m 1909 was somewhat larger than the fallingoff in 1908, and yet that the decrease for the two years combined was but little over 5,000,000 tons, or only a~out 8% . We have stated that the severity of the wmter ?ften plays a? important part in stimulating a1:thrac1te consumpt10n. As it happens, both last wmter and the winter before were mild, and hence there was no stimulus from that cause. Moreover fears of !abor troubles in 1909 had kept productio~ large durmg the later months of 1908, when 1 if normal influences had controlled, the output would have been materially restricted. As a result the markets became overstocked with coal, and the fact that the weather was mild during January, February and March 1909 tended to accentuate the situation. During these three months, too, operations were still conducted in fear of a strike, and in March particularly the shipments were of unprecedented extent, reaching 6,332,474 t ons. The miners, as expected, put in their demand for increased wages and other concessions as a condition of the renewal of their agreement with the companies on its expiration on April 1, but decided not to stop work pending the conclusion of negotiations. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 47 As a consequence, there was no suspension of mining, and in April the contract between the men and the mine owners was renewed for another term of three years on the same basis of wages and without substanti~l concessions of any kind. With this development 1t became apparent that the accumulations of coal as a precaution against labor troubles had been needless. Accordingly, during the remainder of the year close attention had to be given to working off stocks , and with that end in view production was sharply curtailed. Beginning with May the output was heavily reduced, and it was not uritil the latter part of the year that mining was again carried on with customary freedom. In the table which follows we show the monthly figures for each of the last six years: Months- January ---February --March ______ April _______ May----- --June _______ July ___ __ ___ August_ _____ September ___ October _____ November ___ December ___ 1909 . 5,183,345 4,576,004 6,332,474 5,891,175 5,063,873 4,904,858 4,020,765 4,198,273 4,416,120 5 ,579,759 6,027,800 5,775,438 1908 . 5,618,339 4,503,756 4,766,158 5,987,221 6,088,116 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 5,994,272 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 4,98 1,448 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 1904 . 4,134,242 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 5,1"24,068 5,063,144 Total tons_61,969,885 64,665,014 67,109,393 55 ,698,595 61,410,201 57,492,522 We also present the following table to show the anthracite movement for each year back to 1873. It should be understood that all our figures relate only to the shipments to market. They do not include coal used at the mines nor coal sold locally, nor yet t he 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, and we observe the "Coal Trade Journal" in its issue of Jan. 12 estimated the total product for 1909 at 76,346,897 tons. Year- Tons. Year- Tons With reference to the shipments over the different routes, the same feat ure is observed as in the previous year, namely that the smaller carriers are gaining at the expense of the larger. The Erie actually brought in a larger amount than in either 1908 or 1907, and in ratio moved 12.04% of the entire shipments to market against only 11.52% in 1908 and but 10.66 % in 1907: The Pennsylvania RR. and the New York Ontario & Western did not exceed their 1908 output as far as amount is concerned, but materially improved their ratios, the Pennsylvania RR. having carried 9.63 % of the whole, against 9.31 % in 1908 and 9.24% in 1907, while the Ontario & Western moved 4.39%, against 4.33 % and 4.01 % respectively. In this latter instance, however, the gain the last two years is merely a recovery of the previous loss . The larger carriers, of course, had to yield up what the others gained. In particular is this true of the Reading, whose proportion was only 19.24% in 1909, against 19.45% in 1908 and 20.89% in 1907. In amount the Reading, the Lehigh Valley, the Central of New Jersey and the Lackawanna each lost in the neighborhood of half a million tons each in 1909, as compared with 1908 . In the table we now subjoin we furnish a comparsion for the last four years of the shipments over the different routes. --1909-- --1908-- --1907-- --1906- Tons. Reading _____ 11 ,920, 757 Lehigh VaL-110,296,627 Del. s. & s __ J Cent . or N. J_ 7,938,370 D. L. & W ___ 9,531,695 Del. & Hud __ 6,136,946 Penn. RR ____ 5,966,543 Penn . CoaL . 1 Erle _____ ___ ~ 7,461,121 N. Y. S.& W.J N.Y.O . &W. 2,717,826 --- % % Tons. Tons. % Tons. 19.24 12,578,883 19.45 14,018 ,795 20.89 11 ,258,295 16. 6110,772,040 16.66 11, 532,255 17.18 18,536,254 11,435,445 12 .81 8,495,425 13.14 8,714 ,11 3 12.99 6,983,217 15.38 10,088,697 15 .60 10,237,419 15 .25 9,201,875 9.90 6,461,666 9 .99 6,562,768 9.78 5,346,695 9.63 6,019,457 9 .31 6,203,271 9 .24 4,856.004 % 20.21 15.32 2.58 12.54 16.52 9 .60 8.72 12.04 7,450,175 11.52 7,151,683 10.66 5,636,537 10.12 4.39 2 ,798,671 4.33 -- - - - - 2,689,089 4.01 - - - -- 2,444,273 4.39 --- - TotaL _____ 6l,969,885 100.0 64,665,014 100 .0 67,109,393 100.0 55,698,595 100.0 PRODUCTION OF GOLD AND SILVER . . UNITED STATES AND THE WORLD. GOLD AND SILVER PRODUCTION AND MOVEMENT IN 1909. While the .tendency towards augmentation of the gold production of the world was in evidence in 1909, as it has been for over a quarter of a century except during the Boer War period, the actual expansion witnessed was comparatively moderate, especially as contrasted with the result attained in 1908. It will not soon be forgotten that in the year 1908 the aggregate new supply of gold secured from the world's mines showed a very important gain over 1907, notwithstanding a decrease in the product of Australasia. In fact the revised figures show a yield over 1½ million fine ounces greater than in 1907, an expansion only exceeded in 1897 and 1898, when large additions to the output occurred in both Africa and Australasia. It is true of course that outside of Australasia every large contributing country gave in 1909 an enhanced supply, but in no instance was the gain in any way conspicuous, and to some extent the result for the Witwatersrand district of Africa was rather disappointing . We have referred from time to time to the labor problem injected into the working of the Rand mines as a result of the repatriation of the Chinese, but until within thepastyear the difficulties thus presented have been easily surmounted and production of gold continued to quite steadily expand month by month. In 1909, however, the situation assumed a different phase. Repatriation steadily progressed and at the close of the year had been practically completed, thus removing the Chinese as a factor in labor. Now it is known that any losses occasioned by their departure were more than made good in the earlier months by the recruiting of natives. In fact, the native force, including those employed by contractors, reached on April 30 a total of 175,122, the largest on record. But after that date the aggregate of native employees began to decline and by the end of September had fallen to 158,298, the number of Chinese dropping from 7,734 to 3,204 dmfog the same interval. From that level the native force gradually increased and at the close of the year stood at 172,077, or only 3,045 less than on April 30, but newest recruits were not thoroughly efficient. The shortage in the native labor force served to check development in gold production, the monthly totals for the Rand declining until in each month of the last quarter of the year the output was· less than for the corresponding period of 1908. The late increase in the labor force, however, is a favorable development in the mining situation in Africa, and while it has not yet turned the tide of production, it upholds optimistic opinions expressed when the force showed greatest'loss, and also goes to confirm belief that efforts now making will secure to the workings ample hands to continue important further expansion. But even with the recent and temporary check in yield Africa co.n tinues by far the most important contributor to the world's annual new supply of gold. Barely a dozen years after gold began to be secured from Africa that country (in 1898) became the world's foremost producer . During the Boer War period there was of course a decided drop in production, but thereafter progress in development was very rapid and by https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1905 Africa regained the premier position and in 190 and 1909 its yield exceeded that of Australasia and the United States combined; in fact was almost 40% of the world's aggregate. In contradistinction to the expansion in Africa has been the recent lack of progress -in fact retrogression- in Australasia. Down to and including 1905, in which year the country's production reached 4,232,091 fine ounces, development had been quite steady; but since that time there has been a gradual recession in yield, the total dropping in 1909 down close to 3 million fine ounces. The United States, on the other hand, made a very fair gain in production in 1909, its yield having more than trebled in the last twenty years. Canada showed a further, though very moderate, enlargement in output in 1909 In Mexico production has also been quite encouraging. and during 1909 approximately l¼ million fine ounces. were secured. Russia is likewise apparently making progress and in the late year production is estimated to have reached close to 1¾ million ounces. India too did a little better in 1909 than in 1908. We began these gold compilations before any other authority took the work up. In more recent years the Director of the United States Mint, having pursued with diligence and the aid of Government faciliti~s t he same inve tigations, we gladly avail ourselves of those results to supplement our own. But no early figures,. except an estimate for the United States, are furnished by the Mint, the results for the world not being ready until fully eleven months after the close of the year. As detailed below, the world's gold production in 1909 was approximately 22,154,034 fine ounces, which is a continuation of our own annual record of yield begun in 1866, and furthermore marks an augmentation in output of almost 100% in the last twelve years , the 1897 output having been 11,483,712 fine ounces. It is a notable fact in connection with the large and steadily increasing production of gold that there are times when the new supply coming forward has seemed insufficient to meet the commercial demand. During the past year in particular competition for the new supplies was keen from leading financial centres of Europe and the principal banks secured collectively an amount in sight equaling about one-third of t he world's total accumulations. But the increase went almost wholly to the institutions in Russia and Austria-Hungary, the German and French banks showing losses and the Bank of England practically only nominally a gain. It is also a fact that dueto t he drain from various quarters the visible stock of gold in the United States was less at the close of the year than at the opening-$1,653,881,807 on Jan. 1,. against $1,638,108,821 on Dec. 31. In 1907 our net imports of gold almost equaled in amount the production of the country; in 1908 the movement was outward to the extent of about 33% of our home yield, but in 1909 we lost net 88¾ millions of dollars, equivalent to nearly 90% of the year's yield. Of this large total South America (chiefly Argentina) took fully 50 millions and Japan secured 27 millions. Reflecting heavy imports, the Argentine Conversion fund showed a gain of about 50 millions of dollars during the year. PRODUCTION OF GOLD AND SILVER. · In addition to the visible channels into which gold finds its way, it must not be forgotten that its use in the arts constitutes year by year a steadily increasing medium of absorption. In 1907 the United States Mint estimated, after quite thorough investigation, that over 135 millions of dollars had been so used in the world, but for 1908, the result doubtless of the depression then existing, the result it reached was only 114 millions. It is not improbable, however, that in the past year the amount increased to close to one-third of the aggregate production. Considering that item in conjunction with the gain in European bank holdings and in the Argentine Conversion Fund, we account for approximately 350 millions of dollars. This leaves a little in excess of 100 millions as the amount that has been absorbed by the banks and treasuries of countries not included in our compilations or is being hoarded secretly . The truth that this attempt to trace the lodgment of the year's new supply brings up to us is that the demand for the metal is so great, especially as a monetary basis, that no matter how large the production, its absorption is certainly assured. 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, or in 1887 issue of the Financial Review. OOLD.-PRODUCTION IN THE WORLD-OUNCES AND VALUES. 49 Official Details from Gold-Producing Countries . From the returns we have obtained from the mines, mint bureaus and other official and semi-official sources respecting gold mining in 1909, we are able to deduce the following. United States.-T he gold mines of the United States, according to the preliminary estimate furnished by Dr. A. Piatt Andrew, Di ector of the Mint, produced in 1909 about a quarter of a million fine ounces more than in 1908. The chief contributor to the increase was Nevada , which showed a gain of 155,720 fine ounces, bringing the yield, of the State close to the high-water mark attained in 1907. California, too , did well, advancing its output from 935,074 fine ounce in 1908 to 1,029,000 fine ounces in 1909, and in Alaska the yield moved up from 960,669 fine ounces to 1,013,340 fine ounces. Among the smaller producers Montana and Arizona did better than in the previous year. Colorado, on the other hand, showed a moderate decrease in yield, attributable to t he closing down of the Homestake mines on account of labor t roubles. From South Dakota and Utah also a smaller product was secured. The net result for the United States as a whole, however, was a gain in yield of 226,039 fine ounces, valued at $4,672,200 . The ounces and values, as estimated fo r each State in 1909 , compare as follows with the final figures for 1908 and 1907. Gold Production . GOLD PRODUCTION IN UNITED STATES. ---1907------1908------1909--Fine ozs. Value. Fineozs. Value. Fineozs. Value. Colorado ___ _l,010,921 $20,897,600 1,106, 385 $22,871,000 1,062,056 $21,954,700 Ca lifornia ____ 8 15,288 16,853,500 935,074 19,329,700 1,029,000 21,271,300 Alaska______ 894,424 18,489,400 960,669 19,858,800 1,013,340 20,947,600 South Dakota 2 0,185 4,138,200 374,529 7,742,200 331,363 6,849,900 Montana ____ 1 7,987 3,472,600 152,865 3,160,000 174,123 3,599,400 Arizona _ _ _ _ _ 128,871 2,664,000 120,937 2,500,000 129,273 2,672,300 Utah. _______ 247,758 5, 121,600 190,922 3,946,700 185,993 3,844,800 Nevada ____ . 745,507 15 ,411,000 565,475 11,689,400 721,195 14 ,908,400 Idaho _-· -- • o. 754 1,255,900 69,829 1,443,500 67, 207 1,389,300 O regon______ -9,124 1,222,200 43,823 905,900 34,488 712,900 New Mexico__ 15,964 330,000 14,817 306,300 13,464 278,300 Washington_ _ 12,689 262,300 12,273 253,700 18 ,282 377,900 South. States. 11,712 242,100 12,383 256,400 5,594 115,700 Other States_ 3,643 75,300 14,339 296,400 14,981 309,700 Totals ____ 4,3 4,827 $90,4:{5.700 4 ,574,320 $94, !i60.000 4,800,359 99,232,200 Africa.-The year 1909 witnessed what may be termed a ,r., o.-,'<f',r.,c:r., ""! t: . . . . CT:.~C\!, .,; ~ooo"<I'·""· <O r--r--O0>"<1' .i~~N..; partial check to the activity in gold-mining development in tr.> t--c?CO O><O ~CO<O...-fN ON.-,CO<O Africa. That is to say, in the Witwatersrand district, from CO N<OO>O>O O> O>lf'J<OO>tr.> <':>"<l''<l'lf'JO> r.: ..;..;~tic,; .,; i;,ir,;c,;.,; inoN-.ir: which much he greater part of the gold comes, insuffioiency 0 0 0 0 ...... ~O'f"""l~lQ "<I' N'<I'"" r,.O> IQ ....................... ~'<l''-=1' '-=!''-=!' or inefficien cy of labor during most of the year hampered tr.> ar.,ar.,.-,r--N operations, and in the closing months caused the produ ction 0 0>-1'--NCO l'--tr.>-N<':>"<I' 00 ',q4'1"""1.,....~0 N <Otr.><Oan r-0,r., 0>0<0r--o <Oc?IQN('-. IN,..., IQCO <0r--<0 lf'Jc?CO CO "<!'COO"<I'.-, co <ONO><Ol'-to fall below t hat of the corresponding period of the previous ~I':.":~~'-: I'-- l'--<?000()<0 "<1'<0 NNO c,; r.:.,;,r.,·in,..: r,; .-i.-i,,i.i.,; <':> <':>OCON<':> c,;..;r,;...:,i..; ,i..,j . ; ~ , ; CO.-, 0()<':) IQ CO tr.> NO>C()c?<O 0 0-0<00> <O l'--NNoo, NCO '-=!'lf'JO year. But notwithstanding this adverse development , and O> r,. r,.,r.,<000 0 r--0><0r,.O> tr.> r,.c,:,O.-,<0 O>N r,.c,:,.-, "<!''-=l'O>CON ~-~c? NNNNN ...: ......-........ ~~... ..;~.,;.,;~,; <O• ...:r,;.,;..;<':>· r,; ..;~r-:. . . -~ . 1...:N -.:r- ~.; the further fact that districts outside the Rand collectively <O lf'J<O<Or,.r-c?C() 0()0>0, ::: "<l'"<l'IQ<Otr.> ;::"1C\l~C.-:)~ N c? gave a smaller output than in 1908, the yield for the whole country was the largest on record. In this connection it is not out of place to again draw attention to the rapid strides ma de by Africa in the last twenty years as a gold producer. Not until 18 7 was gold secured there in any measurable quantity, an in 1889 the yield was only 366,023 fine ounces. But development thereafter was steady and rapid as a rule, barring the B er War period, and twenty years later (in 1909) the output reached 8,334,604 fine ounces, an aggregate almost as great as the whole world produced in 1894. Moreover, twelve years ago the yields of Australasia, the United States and Africa were all of approximately the same amount; in 1909 the last-named country not only exceeded the other two by 162 % and 74% respectively, but more than equal d their combined total. · The Witwatersrand district produced alone in 1909 a total of 7,039 ,136 fine ounces, or only 3.8% more than in the previous year, he yield in December 1909 at 583,209 fine ounces, for the reasons already noted, showing a loss of 54,644 fine ounces from the record total of the month in 190 . "<I' ar.,,r.,.-,oo Ne? ,...00> "<l'Nlf'JC()Ol'-NOOOON - O00c?c?O With the Chinese now eliminated as a factor in the labor N '<f'O>N-<O C\lc-';INNU-:, N Nt--"<1'O00 I'-- 00000"<1' c,:, -<?0000() N 000<?00('-. 00 .-,O>..:>NCO tr.> IQOO'-=!'l'-I'--<':> 00<?<? situation and the work of recruiting natives thoroughly ,;..;~'-=!'·r.:c,; 0 ..;r:.,;,;..; ~ c,;..;c,;r:.,; r,; inoo<-iii C?,n ..;..;,; r,. OO>c?-,r., c? 0,0:,00000 ocor- ...... ~C\J N or--<00,<0 0><01'--1'--O lOt"--i-,:fOO systematized, it is believed that hereafter no hindrance to r-- <Otr.><Otr.>,r., r--cocotr.>coN c,:,"" c?,r.,co ~'°-"".C-:~"'!. .,;.,;.,;..;..;..; ~-..;..;..;..;..; i-.i ..;..;..; development , such as that of the past year, will soon again ~,..:,..;_;,..;,..: co IQ <0..:>.-,,r.,r,. ar., NO>COCOCO N <0.-<N.-<<':> 1'<f'<Oc?N <':>IQ '-=!'10"<!' be encountered. The results of gold mining in the Rand 1ir.i t0C\lo '-=I' --Ne?<':> 0 0>.-<<0'-=!'l'-c? OO>Nt--O «>«>t--00O IQ<OC()<O>Q'-=!' 1t- NO ~ .-<<00<0<0 ~.. ~iq_~tq~ N -"<l'r-- 00<? 0 ,;r,;..;,iN' ...: ..;c,;r:..;..; .,;...: ...: .,;..; proper, month by month, for seven years are set out in the fol"<I' r--o-,r.,,r., ,000<00> C'\Jlf:)OOC0....-4 "<l'c,Nr,.c,:, 0 t--0> .... <00> ,N"<l'<Ot-"<I' tr.>-O<0<0 lowing. 1 Ne?"<!' 1;.r--1;.~~~ "'!.-.OC!.~'°-"" - "<l'O><':>-"<I' "<l'<O.., - c? WITWATERSRAND DISTRICT-FINE OUNCES. ...... 1"""1T"""'tT""IC\l r,. NNc?<':> :i ...:..;..;ii :i<O·i-:-c,;r,; Ounces . 1903 ' . 1904. 1905. 1906. 1907. 1908 . 1909 . c? c?O>"<l'"<l'c? o, ,o ·o"<I' c?r-- c? c?<Oc?CO<O N O>c?'-=!'-r-- lQ ...-4 IQ ........................ ...... ...-1 <0<000O..:>,r., <ONO>co..:>.-, ~~~~"'!.~ 0>0000<?OO .-,0,0()',:j'<':>N ~~~l':,~"'!. NNr--0>"<:l'N ....-40~00.,....CO C()NNN<':>N N"<l'<O--N tr.>COOO>N"<I' ~oq_~~":~ N0>N0>"<1'00 CO>Qtr.>tr.>c?O> 0>,r.,'<f'.-,OO ~~r,;~~oo Ot.OCl::IC\J~r,. ~NN<':>C':><':> "<l'O>O>..:>tr.> "<1'<0001'--<0 O><':>Nlf'Jl'-- ,.... ,-4"""'4lt':)C0CO ~~~0::,,...-10') ,..-4 ,--,(T"'"4T""'IT""4C\l I"' .... ., ....-4 N ONNI'--N "<I' r--ooor-r.o COC\JOt.0..,.. .,; r.:,;..;,;..; 01(:,C:l)'<f''<f'tr.> ~ "'!."'!.~~~ t.O .,.....,.....,.....,.... ...... I I If I I I I I I I I I I I I I I I I I I <':> ,r., ~ OCONOIQ o,..:>0>«>O ~C'\!_~"""!,L":>... IQ 0()00-00 00 ...... ~ ....... C\lt- oq_,r.,_~r-:.~--: tOT'""fT""'41""'4C\lC\l I I I I I I I I I I I I 11111If:)11111011111 . : : : : : ! :, :, :, :, :, ! ~!.~«:~~ ... u::~~a:c: t,)11111 OO ~§~~~~~ b~~~~~ o~~~~~ 8~~~~~ tr.> NCOCO<O.-< 0 r,.t--c?N<O ":OC!."'!.~":0>. O> lQOtr.>tr.>0> tr.> COO>c?ON """<l'"<!'c?N.-< r-- <OO>NNO> "'!,c?_c?_~oq_~ r,. NO>l'--<ON "<I' 0>'-=!'.-<0>c? ,r.)>Qc?.-<0 0 Ct?_t-.. ~~"':~ "<l'O><OIQN ..--4COC\JT"""'it- O>NN•C?..;C? I I I I I I I I I I I I lf:)11111 ~ c?c?'-=!'"<l'"<I' I I I I I I 00 ...:..; CON ,oar.,'-=!' r,;.e,; o..;..;..;..; N I I ''' 011111 ~II I I I sd'.-< 00 <?tr.> O>a, O.-<O I I I I I 1- ~ •,'::: :, ~::::: ~::::: ... ~~~~~ ?• ::::: a> ,...!~~~.,.; ; : : :~ b~~~~~ b~~~~g bggggg ~~~~~ 0 I I I I~ I I 1 (1.) OO fDt-00~0 8~~~~~ 8~~~~~ -. · • cor--000> 8~~~~~ •For figures from 1881 to 1871 see Vol. 70, page,s 256 to 260 . " " 1871 to 1851, see Vol. 54, page,s 141 to 144. The ounce,s In t.be foregoing table for any of the countries given may be turned Into dollars by mult iplying by 20.6718. The value In pound s sterling may also be ascertained by multiplying the ounces by 4.247 8. Thus, according to the above, the product in Australasia in 1909, stated in dollars, ls $74,854,923, and in sterling £15,381.787. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis January __ February_ March ___ April--·· May --·· June _____ July ____ August __ September Oct ober__ November December 192,935 187,97 208,456 218,900 224,409 228,168 242,070 262,569 267,513 275,664 272,107 278,710 --- 278,867 282,436 299,625 297,470 306,586 299,913 298,825 301,113 301,131 313,928 324,011 349, 89 357,214 351,052 385,575 3 5,394 400,149 396, 188 401,121 410,859 399,536 397,868 407,056 414,421 --- 411,256 3 9,283 424,773 420,467 441,936 456,014 473,385 489,787 486,5:22 521,3)7 515,193 529,52 520,089 475,785 520, 163 5 8,243 506,100 487,956 513,655 534.,598 517,746 532,993 530,215 562,684 540,202 520,969 553,440 543,361 558,243 550,240 561,988 565,545 565,439 594,054 591,204 637,853 Totals.2,859,479 3,653,794 4,703,433 5,559,534 6,220,227 6,782,53 591,976 550,645 592,415 587,626603,411 596,216 599,078 590,924 585,736 581,132576,768 583,209 --- 7,039,136 Outside of the Rand, as stated above, less gold was secured in 1909 than in 1908. The mines at Lydenburg, Barberton, &c., in the Transvaal, returned an aggregate yield of only 241,406 fine ounces, against 270,079 fine ounces illl 50 PRODUCTION OF GOLD AND SILVER. the previous year, and in West Africa a loss was recorded. 1,693, 128 fine ounces. Details for the last thirteen years Rhodesian production, however, advanced from 607,012 fine are appended: Value Ounces ounces in 1908 to 623,389 fine ounces in 1909, and there was Russia's production in 1897 ________________ $23,245,666 1,124,511 " " "1898 ________________ 25,463,337 1,231,791 some gain in Madagascar, &c. The subjoined compilation " 1899 ___ _____________ 22,167,100 1,072,333 covering the progress in gold mining in all sections of Africa "1900 ______ __ _ _______ 20,145,500 974,537 "1901_ _______________ 23 464,562 1.135,100 sin,(}e 1886 is given without further remarks. "1902 ________________ 22,739,013 1,100,000 Y,ear. AFRICA'S GO LD PRODUCTION-FINE OUNCES. ---Other----TotaL--Ouncu. £ Ounces. £ 28,754 122,140 28,754 122,140 190,266 808,210 50,000 212,390 240,266 1.020,600 316,023 1.342,404 50,000 212,390 366,023 1.554,794 407,750 1,732,041 71.552 303,939 479,302 2,035,980 600,860 2,552.333 127,052 539,691 727,912 3,092,024 1.001.818 4,255,524 148,701 631.652 1.150,519 4,887,176 1.221.151 5,187,206 159,977 679,550 1.381.128 5,866,756 1.637,773 6,956.934 227,765 967,500 1.865,538 7,924,434 1.845,138 7,837.779 27(),000 1.146,906 2,115,138 8,984,685 1.857,071 7,888,465 293,035 1.244.755 2,150,106 9,133 ,220 2,491.552 10,583,616 326,941 1.388,780 2,818,493 11 ,972 .396 3,562,813 15,134,115 341.908 1.452.357 3,904,721 16,586,472 3,360,091 14,273,018 305,784 1.298,909 3,665.875 15,571.91!7 395 .385 1.679,518 166,922 709,051 562,307 2,388,569 238,995 1.015,203 235,701 1,001.211 474,696 2,016,414 1.691.525 7,185,260 307,286 1.305,299 1.998,811 8,490,559 2,859,479 12,146,494 458.183 1.946,290 3,317,662 14,092,784 3,653,794 15,520.329 509,747 2,165,303 4,163,541 17,685,632 4,706,433 19,991.658 788,040 3 ,347,436 5,494,473 23,339,094 5,559.534 23,585,400 1.042,151 4,486,849 6,601,685 28,072,249 6,220,227 27,403,738 1,200,847 5,100,958 7,421,074 32,504,696 fi,782,538 28,810,393 1,397,147 5,934,845 8,179,685 34,745,238 7,039,136 29,900,359 1,295,468 5,502,889 8,334,604 35,403,248 "1903 ________________ 24,632,200 "1904 ____ __ _ ___ ___ ___ 24,803,200 "1905 ________________ 22,291,600 "H)()fi _________ _ ______ 19,494,700 "1907 ________________ 26,684,000 "1908 ________________ 28,052,200 "1909 ________________ 35,000,000 '--Witwatersrand--Ounces. £ 1887(part,yr) 1888------1889 ------1890 _______ 1891 ------1892 - -- ---1893 ------1894 ____ ___ 1895 ------1896 ------1897 ------1898 _______ 1899 ------1900 ---- --1901 ------ 1902 ------ 1903 ------1904 ------1905------1906 - - ----1907 ------1908 ------1909 - - - - - - - ---------- Tota) - ___ 57,668,106 245,912,137 9,774 ,207 41,578,950 67,442,313 287,491,087 Australasia.-Again the mines of this country show a falling off in gold production. Due to the poorer ores encountered in the lower levels of most of the mines, a retrograde movement in output set in in 1906 and has continued since in varying degrees in almost every province. The result has been that from a yield of nearly 4¾ million fine ounces in 1905 there was a drop to 3,925,591 fine ounces in 1906, a further decline to 3,668,308 fine ounces in 1907 and 3,551,113 fine ounces in 1908, and the 1909 product reached only 3,243,005 fine ounces. How great a change the years have brought is readily seen when we state that in 1904 Australasia was the heaviest single producer in the world, but now its yield is less than half that of the African fields and materially below that of the United States. We subjoin a compilation indicating the product of each colony and the combined total for a series of years: PRODUCT OF GOLD IN AUSTRALASIAN COLONES-FINE OUNCES. Y rs . Vtctorw. 1897 ___ 747,744 1898---770,277 1899 ___ 793,418 1900 ___ 726 ,666 190L--711.046 1902_ -- 728 ,380 1903---767.351 1904 ---771.298 1905---810.050 1906--- 786,054 1907- __ 710,269 1903 ___ 676,001 1909 __a501,500 New So. Wales. 268,840 314,385 468,665 281.209 216,884 254,432 258,488 269,817 · 274.263 253,987 247,363 224,788 204,705 QueensWes tern New South Tasma- Total A usland. Australia. Zealand. Australia. nia. tralasia. 743,294 844,652 871.816 855,959 733,975 653,362 686,469 624,917 577,559 493,120 457,596 452,451 a395,000 633,515 966,167 1,512.366 1.438,659 1.616,933 1.769,176 2,064,798 1.985.230 1.955.316 1.794,542 1 ,698,553 1,648,505 1,595,341 231.512 257,762 358.418 335,300 412,868 459.408 479,738 467,647 520,040 532,922 477,303 474,415 472,459 9,497 55,876 18,400 63,995 30,351 10,492 26,458 65,710 29,668 70,990 23,662 60,974 24,401 36,678 17,913 60.000 20,547 74 ,316 14,078 60,888 11,870 65,354 14,500 60 ,453 a14,000 a60,000 2,690,278 3 ,235,638 4,105,526 3,729.961 3,792,364 3,949,394 4.317,923 4,196,822 4,232.091 3,925,591 3,668,308 3,551,113 3,243,005 a Estimated In part. Canada.-A moderate increase in yield in the Yukon district accounts in great part for the gain Canada's production for 1909 exhibits over the 1908 outcome. Of course, as only an approximate idea of the output for the year is obtainable, but our information comes from Mr. Jno. McLeish, Statis_tician of the Department of Mines of Canada, whose estimates in the past have been very close to the actual results. Eastern Canada, he states, has probably shown a decrease, and British Columbia's yield has been as much as or a little more than that of 1908. His estimate indicates an aggregate enlargement in production in 1909 of 31,826 fine ounces, the total yield being placed at about 507,938 fine ounces, against 476,112 fine ounces in 1908. Even at that figure the output is comparatively small as compared with the period from 1898 to 1907 inclusive, when excellent results from the Yukon served to materially swell the annual totals. The exhibit for Canada for the last thirteen years, in fine ounces and values, is as follows: Canada's production in " .. '' " " " " " " " " " Values . 1897 ________ ____ ___ __ 6,089,500 1898 _____ _________ ___ l3,83X,7UU 1899 _ ________________ 21 324,300 1900 _____ ____ ___ _____ 27 ,91 6,752 1901_ ________________ 24,462,222 1902 _________________ 20,741,245 1903 _________________ 18,834,500 1904 ______ ________ __ _ 16 400,000 1905 ___ ______________ 14,486,800 1906 _________________ 12.023,932 1907 _________________ 8,38 2,780 1908 __________ ___ ____ 9,842,100 1909_ --- - - -- _ - - _ ---- _10,500,000 Ounces. 294,582 669,445 1,031,563 1,350,475 1,183,362 1.003 359 911 118 793,350 700,800 581,660 405,553 476,112 507,938 Russia.-As regards Russia, we can only repeat what we have stated in earlier years, that no early information of a conclusive nature is obtainable. It follows therefore that any estimate made is at times subject to important revision. That was not the case in 1908, however, our estimate coming extremely close to the recently issued final figures. The tendency has been toward increased production the last few years, with the augmentation in yield in 1909 noti ceably large. For the purpose of this compilation we have estimated the output of Russia's mines at $35,000,000, or https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1,191,582 1,199,857 1,078,356 943,056 1,290,840 1,357,027 1,693,128 India.-A small increase in the production of gold in India in 1909 is indicated by the returns from the Colar field, where the principal mines of the country are located. Compared with the years from 1903 to 1906 inclusive , however, the output is less . As will be seen in the appended table, the Colar field gave in 1909 a total of 544,007 gross ounces, which compares with 534,377 gross ounces in 1908 and 531,829 gross ounces in 1907. EAST INDIA-GOLD PRODUCTION PRINCIPAL MINES. 1909. 1908. 1907. 1906. 1905. 1904. 1903. Ounces. Ounces.Ounces. Ounces. Ounces. Ounces. Oun~s. Champion ReeL ______ ll3, 877 120,533 128,671 158,642 217,135 213,838 211,466 Oorei:um ____________ 92,063 ?86.252 73,562 68,881 66,236 73,571 84,698 Mysore ___________ ___ 228,249 -16,488 209,441 205,918 205,389 201.909 192,897 Nundydroog _________ 86,606 80,889 74,964 72,439 70,561 68,569 70,129 Balaghat Mysore ___ ___ 21,203 28,039 3::1,574 46,432 42,470 31,706 27,155 Mysore West & Wynaad 2,009 2,176 9,319 8,525 13,177 12,328 11,441 Coromandel _________ 2,298 2,641 593 4,272 Totals ____________ 544,007 534,377 531.829 563,478 615,561 606,193 597,786 Other Countries.-There are very few countries in the world from which some gold is not secured, but aside from those already reviewed Mexico alone warrants any special reference. That country has for many years been prominent as a silver producer, but since 1893 there has been more or less steady development of gold mining and now it ranks -fifth in amount of yield. Based on such information as has come to hand, we estimate that the 1909 output of Mexican mines was about 1,250,000 fine ounces, as against 1,082,210 fine ounces in 1908. In South America, the only country that has shown steady development of recent years has been Colombia, which likely further increased its product in 1909. Central America also probably did better, and the same is presumably true of France, and of Japan, China, Korea and Siam in the Far East. It is therefore probable that for all other countries (not including Mexico) the 1909 product was moderately greater than that of 1908. Silver Production of the World. We have heretofore often remarked that very little early data with regard to the production and accumulation of silver are obtainable; that is to say, facts are too vague at this time to enable us to reach any definite conclusions as to the 1909 yield. Dr. Andrews's estimate for the United States is, of course, at hand, and it indicates an increase of about 1 ½ million ounces. Information from Mexico also would seem to foreshadow a gain of practically the same dimension in that country, but a slight decline is probable in Australasia. Canada is rapidly coming to the front as a silver producer as a result of important development and consequent expansion of yield in the Cobalt district. Mr. McLeish, 1n fact, estimates the yield for the Dominion at between 5 and 6 million ounces greater than in 1908. While fluctuations in the price of silver at London were frequent, they were wit.bin a narrow range, the highest price having been 24½d, and the lowest 23 l-16d., with the average 23 11-16d. In 1908 the average was 241/gd., or 11-16d. higher, and the averages in earlier years were 30 3-16d. in 1907 and 30 ½d, in 1905. We now present a statement of silver production covering each year since 1890. See "Chronicle" of Feb. 11 1899, page 258, for results back to 1871. SILVER .-WORLD'S PRODUCTION TN OUNCES AND STERLING. United All Other 'l'otal. Fine Ounces. States. Ounces. Mexico. Ounces. 1891---- 58,330.000 35,719.237 1892---- 63,500.000 39,504.800 1893---- 60,000,000 44,370.717 1894---- 49,500,000 47,038.381 1895---- 55,726,945 46 ,962,738 Total '91-95-287 .056,945 213,595.873 1896 ____ 58 834.800 45,718,982 1891---- 53,860,000 53,303,180 1898---- 54,438,000 56,738,000 1899---- 54,764,500 55,612,090 1900---- 57,647,000 57,437,808 Total '96-00-279,544,300 269 ,410.060 1901---- 55,214.000 57,656,549 1902 ____ 55,500,000 60,176.604 1903---- 54,300.000 70,499 ,942 1904 ____ 57,682,800 60,808,978 1905 ____ 56,101.600 65,040,865 Total ---· '0l-05_278,798,400 314,182,938 H05 ___ _ 56,517,900 55,225,268 h/07- ___ 56,514,700 61,147,203 1908 ____ 52,440,800 73,664,027 1909 (est.)53,849,000 75,000 ,000 a Values of silver In this table ave-rage price each year or silver as )f £ In this table. $4.8665. Au.stralia. Ounces. 10.000,000 13,439,011 20,501.497 18,073.440 12,507 ,335 Producers. Ou1ices. Total Ounces . 33,916,175 137,965,412 36,496,175 152,939.986 41.228,063 166,100.277 53,140 ,696 167 ,752,517 53,983,231169,180,249 Valuu. £ a 25,900,270 25,370,513 24,655.510 20,226,410 21.059,416 74,521.283 2 18,764,340 12,238,700 40,268,888 11.878 000 44,431.992 10,491.100 51.560.764 12,686,653 44,161.000 13 ,340,263 44 ,413.802 793,938,441117,212,123 157,061.370 19,959,882 164,073,172 18,885.500 173,227,864 19,488.135 167,224,243 19,161.112 172,838,873 20,344,575 60,634,716 10 ,230.046 8,026,037 9,682,856 14,558,892 12,561.600 834,425,522 173,011 ,283 162,763 ,483 167,689.192 164,195,266 169,588,839 224,836,446 49,910,688 39 ,060.842 33,206,394 31,144,596 35,884,774 97,839,204 19,598,934 16,318,731 17,292,944 18,044,172 19,652,873 55 ,059,431 189,207,294 837,248,063 90,908,654 14,237.246 39,660,226 165,640,640 21,308,978 19 ,083,031 48,269,689 185,014,623 23,271,622 17,175,099 59,906,444 203,186,370 20,636,116 17,000,000 68,000,000 213,849,000 21,106,45 1 are commercial values and are computed on tha given by Messrs. Pixley & Abell, London. Value - ~ I'll Cl) ~ II;) ..s +:> ... 0:, 0 0:, ,-I +:> w. t..cl CV:, :.8 Cl) ..cl +:> ~ 0 C) ..D Cl) ci 0 0:, ,-I > .bl) ~ +:> a ~ t- CV:, 00 ,-I w. ~ d ..cl +:> ,-I s +:> bl) i::::: -~:::, .... > ~ ..cl +:> Cl) 0 ""O ....... d d >. :::, O" ..cl 0 +:> +:> i::::: d 'tj-1 d w. ..cl Q) 0 ..cl .... 0 :.8 ..cl +:> i::::: bl) Cl) ..cl s ..cl ....rn w. ~ Cl) Cl) Cl) c:13 bl) i::::: ....w. >. Cl) ""O E-t ~ - 0 d . Cl) d Cl) >. d ~ i::::: 0 ""O CD ,-; I ,-; CV:, N uH a P-4 - - -~ g - ..s ~ ~ ~ > H H w. 0.. ~ -~ :::, ~ ~ a ....... ~ ~ ~ bl) i::::: ~ ~ ~ ~ ""O i::::: 0 H ""O ....Q) Cl) w. ""O Cl) 0 A +:> A 0 :::, 0 +:> 0 ....... A0 > C) i:lj ....... 'rii ..D Q) 0 0 ..... 0.. Q) 0 +:> I'll Cl) A 0 d +:> +:> d +:> I'll Q) l\,,f ~ >. ~ ~ w. w. Cl) ~ 0 w. i::::: .9 +;> ~ :::, 0 w. 0.. Cl) bl) ....rn .... ~ s -~0 d Cl) A 0 :::, 0 0.. Cl) .s +:> Cl) +:> Cl) ........... A +:> 0 <!'.! .... 0 w. ~ Cl) Ql i::::: 0 Cl) > d Cl) A +:> 0 i::::: d O" bl) .:::w. ~ .s ....d .E0 ""O i::: ~ A +:> lO ;>-. d ..cl +:> 0 ..0 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 00 0 0:, ,-I .s ""O ~ ~ N ~ +:> i::::: ·@ 0 "'C$ ~ ~ Cl)... d Q) w. ~ ""O 0 Q.) w. Q) N 00 d w. i::::: bl) ~ :- ""O CD ,--I I ,-; ,--I ~ CV:, ""O N Cl) w. w. ~ 0 ~ 0 +:> w. :::, YEARS. JANUARY. 1837 ..•. 1838 .... 1839 .••. 1840 ..•. 1841. ••. 1842 .••. 1843 ..•. 1844 .... 1845 .... 1846 .... 1847 .... 1848 .... 1849 .... 1850 ..•. 1851. ... 1852 .... 1853 .... 1854 .... 1855 .... 1856 .... 1857 ... . 1858 .... 1859 ..•. 1860 .... 1861. ... 1862 .... l ,:, 63 .... 1864 .... 1865 .... 1866 .... 1867 ..•. 1868 .... 1869 .... 187 0 .... l871. ... l872 .... 1873 .... 1874 .... 1875 .... 1876 .... 1877 .... 1878 .... 1879 .... 1880 .... 1881. ... 1882 .... 1883 .... 1884 .... 1885 .... 1886 .... 1887 .... 1888 .... 1889 . ... 1890 .... 1891. ... 1892 .... 1893 .... 1894 ..•. 1895 .••. 1896 .... 1897 .... 1898 .... 1899 .... l ' 00 .... 1~01. .. . 1902 .... 1903 .... 1904 . .. 1905 .... 1906 .... 1907 .... 1908 .... 1909 .... 6014 -6038 5912 6038 -605s 6014 -60¼ 6038 595s 5918 -5958 59 14 -5938 5914 5914 6018 -6038 5918 -5914 595s -5934 595s -5934 615s 6012 -6034 6138 6112 -6134 6112 -615s 60 7s -6114 62 14 6112 6134 -62 62 -6238 6114 -6138 61 -6158 6158 -6134 617s -6212 6112 -615s 6138 -6134 60 7s 6038 -60 7s 605s -60 7s 60¼ -6034 6012 -605s 605s -6118 5934 -591616 58 -5912 5712 -575s 54 7s -5618 56 7s -5814 5312 -54 495s -51 5214 -5234 51 -5134 5113 16-5218 50 -50916 5034 -51 4938 -50 46 7i:i -47 4614 -4718 4414 -44916 4238 -421116 4418 -44 7s 46 78 -48~ 4134 -43¾, 3818 -38916 3012 -:n34 273 16 -277 16 3012 -3079 2911111-2913,, 2618 -2ti79 27 14 -275s 27 -27 ' 1 27~ -29916 25716 -2618 211116-2238 25'9 -2 i616 283s -279 111 30¼ -29 1 ' 16 31616 -32716 24 7 s -27 237, -2438 - - - 0 .9 +:> .... TABLE SHOWING THE FLUCTUATIONS IN LONDON IN THE PRICE OF BAR SILVER PER OUNCE STANDARD, FROM JANUARY, +:> 0 A Q) ..cl >. .... ..cl 0 +:> ~ 00 Cl) Cl) Cl) Cl) 0 Cl) bl) J-4 ~ l\,,f ~ Cl) >-. Pence. FEBRUARY. MARCH. APRIL. MAY. JUNE. JULY. ATIGUST. Pence. Pence. Pence. Pence. Pence. Pence. 60 60 5912 -59 7s 5912 -5934 -595s 59 14 5914 -595s 59 5912 5912 5938 -5912 5938 5938 5938 5938 -6014 6014 -6038 605s 6014 -605s 60 6038 6038 6038 -6012 6014 6014 -6038 60 14 -6012 6018 -60 14 6014 6018 -6014 60 14 -6038 60 60 6038 60 14 . 6018 6018 -6014 59 7s -60 5938 -5912 593s 5914 -5938 5938 -5912 59 34 -60 5934 595s -5934 59 -5914 59 -5918 5918 5918 5914 59 14 5918 -5914 5938 5938 5914 5934 · 5912 595s 5958 -5934 7 7 7 5918 -5914 58 s -5918 58 s -5914 5918 -5914 5938 -5958 58 s -5914 59 59 5914 59 14 59 59 5918 5918 6038 6038 58 7s -6(138 58 7s -5914 59 -59 7s 59 7s -60 5934 -60 5914 -5938 5918 -59 14 5812 -59¼ 5912- 60 5912 -5958 5912 -59 7s 695s -59 7s 59 34 60 -6018 59 7s -60 59 7s 5912 -59 7s 5958 -5934 5934 -59 7s 5912 -5958 5938 -5934 595s 59 7s 5958 595s 595s -59 70 6112 -615s 6112 6112 6034 -61 6118 -6112 60 7s -6118 6034 -61 6012 59 7s -60 6038 6038 59 7s 59 7s -6014 6038 6138 6138 6138 6058 -6138 605s -6118 6118 -6112 6118 -61 7s 6158 6158 -61 7s 60 7s -6134 61 14 -6112 6114 617s 6114 61¼ -6158 60 7s 605s 6134 61 14 -6138 6112 6112 -6158 6118 -6138 6012 -61 6012 -61 6114 -6158 61 -6118 6034 -6114 60 7s 6112 -61 7s 6138 -6134 6138 -6134 61 -6112 617s 6112 -61 7s 6134 -62 6138 -61 7s 6114 -6138 61¼ -61 7s 6138 -6112 6114 -6138 6034 -61 6138 6134 6134 -6234 617s -6238 62 14 -6238 62 -62 34 6134 -62 -6214 62 62 -6218 6134 -6218 6134 6138 -615s 615s 615s -6134 6112 6118 -6114 6058 -61 60 7s -6134 6034 -60 7s 6038 -605s 6018 -60 14 60 14 -6012 6112 -6134 6114 -6138 6118 6114 6114 -6138 61 -6l1s 6114 -6138 -615s 61 6112 -6158 6138 -6112 61 -6138 6114 -6158 61 -6118 -61 14 61 -6158 61 6114 -61 7s 6112 -6134 6114 -61 7s 60 7s -6118 6118 -6138 6118 -61616 61 -6112 6138 -6112 61 -6138 605s 60916 -6034 6012 -6034 60¼ -6034 6034 -60 7s 60 7s -6112 60 7s -61 61 -6112 61 -62 615s -6214 605s -6134 6038 -605s 6034 605s -6034 6034 -61 14 6038 -60:\ 6038 -6012 6038 -6012 6012 6038 -6012 6012 -6118 6012 -6058 6038 -605s 6038 -60716 6018 -6038 6038 6034 -61 6012 -6034 6012 -605s 60 -6038 60 -6014 6014 -60616 60 14 -6038 6038 -6012 6038 -6058 6038 -6012 6038 -6012 6038 -6012 6012 -62 6038 -6058 6012 -605s 6038 -6012 60316 -6014 60316 -6014 6038 -60916 6012 -6058 605s -6034 6034 -6118 6034 -60 7s 6014 -60 7s 60116 -6012 60 -60 14 -6018 60116 -60316 60 5934 -591616 5934 -59 7s 59 34 5938 -59 7s 59616 -5912 59516 -5938 581316-593 16 5812 -59 5812 -5938 58916 -59 14 5812 -58 7s 5!:'½l -59 5814 -5812 5778 -5818 5738 -5712 57 -5714 5718 -5738 5612 -57 -565s 55-:. -55 7s 5511 16-55 7s 56 53 -54 7s 5212 -5414 5312 -54 -54 52 50 -52 4634 -5112 5014 -5334 56 -5734 5314 -5618 5312 -55 -5414 535s -545s 5312 -54 53 7s -5412 54 5315 16-5514 5418 -55 53 7s -54 14 5314 -53 7s 5212 -53716 52516 -521316 5218 -5234 4912 -5014 48 78 - 5014 4912 -5018 50 - 5134 5112 -53 51 - 5218 5118 - 51 7s 52 -52 916 5134 -5212 5134 -5214 52116 -5214 523 16 -5278 5212 -52 7s 5212 -52 7s 5114 -52 7s 52 -5218 5112 -52 -52 7s 52 51 -511116 50 7s -5238 5114 -51 79 52 -52116 517s -52116 52116 -52516 5218 -52716 51 7s -5238 51 5s -52 517s -52116 -501316 5038 -51 5034 -51316 5038 50116 -5038 50116 -5034 50616 -5012 50716 -505s 51 -5138 501116-51316 5012 -51 5034 -501616 505s -501616 501116-50 7s 509 16 -507s 4913 16-499 16 49 -49316 48 7s -49 78 481616-50 49 -49::116 4918 -4914 487 16 -49316 4612 -461616 4611 16-4678 46 -461116 4434 -46 -425s -44916 42 441116-4538 42 46616 -47 44616 - 467 16 4314 -44916 43716 -4334 431116-4414 4378 -447 16 44 14 -45 14 431316 44316 43 -4334 4212 -4279 415s -425s 42 -42 14 42 -42616 411616-4218 4212 -4234 42 14 -425s 42116 -42616 411616-4214 42 -42316 42 -42616 4214 -42916 431116-4458 4334 -.4438 43 7s -48 46 -4712 46 14 -49 479 16 50 79 5034 -5412 4412 -4634 4458 -45616 43 7s -45 4414 -4518 44 14 -46 455s -4638 45116 -4618 4118 -411616 39 -4158 3914 -4018 3911 16-4038 40116 -4118 39116 -4014 3778 -391 16 38 14 -3812 37916 -3R38 38 -38516 3758 -38916 3012 -3834 3218 -3434 3211 16 -34 78 2712 -30l ' 16 27 -27 79 2918 -2938 281 6 -2914 2861R -281616 28 79 -28 1516 2811 16-3012 2714 -2711,. 27~ -2934 29 7s -30 79 303! 6 - 3078 303, 6 -3011 16 303 16 -305s 3014 -30 11 16 3034 -311>, ; · ~Jle -319 16 301 •,e-313 1~ 301 1~-3114 3P 1,, 3191 Q 313s ·3112 3038 -3138 291111,-2»34 286111 -2958 .!8316 -2H12 2712 -28316 2712 -2734 2638 -2711H 23¾, -2612 • i', -2R1 1 11 Zf>llrn-26 1, 257s -26 7"! 2 fi I l 16-2712 27 2558 -2 h14 -27 7 R 'l 718 -271::11 , 2738 -27 12 2738 -279,~ 27 38 -28 7s 28 -2834 27111 -28 275s -2734 2718 -2713 11' 27° 1 a - 27:\ 277 1., -2711, 6 27°,s 2712 271.g -275s 279. -289111 2734 -28 11 6 27101e-2871 6 27 7R - 2812 27516 -28316 261616- 2715 16 2 - 316 -2758 2714 -27916 26131 6-2714 2634 -2718 25° 16 -2512 241 16-257 16 .!3616 -24 79 23516 -24 2;:J16 6-24716 24716 -24916 2418 -24716 21 7f< -22 ' 16 2218 -227R 22~ -25116 24616 -2514 -?418 24916 2414 -2512 251116 -.?634 ~!'Ills -271.g 2!\"41 -261116 24716 -25 .... 2518 -25 ' 616 25616 -2618 2 fi 38 -27 263 16 -27 28 6111 -~7~ 2711 16-251s 1t 26:!s -257 6 27616 -2fl~ 27'-, -2H7 ,6 27616 2678 >83R -2714 ~0 1 rn-3018 30·16 -29 30916 -29~ 313R -30916 3118 -2fJ9 6 ~0716 -291 316 3015 6-2978 3112 -3212 30 7 16 -321¼6 30 -311616 3118 -3214 -30~ 2916 16-3112 305s -311 18 31 t 538 -26~ .!5716 -'l51' 16 24616 -'l512 24 -24131 241.i -2!'> 38 24R16 -?478 2358 -2438 23 916 -2418 231 16 -233 231 4 -247 1fl 241 8 -247 8 23161 -241 233 -237 237, 6 -24 l'ence. SEPTEMBER. Pence. O CTOBER. Penie:- 1837, TO DECEMBER, NOVEMBER. Pence. 1909, INCLUSIVE. D ECEMBJ,;R. Y'ARAVG YEARS. Pence. 59 14 -59¼ 59 -59 14 5914 -59½ 5912 59¼ 5912 5912 -5934 60 -6018 6012 60¼ 60 14 6014 -6012 6012 -605s 6012 -6034 60¼ 6014 -60~ 6018 5934 -59 7s 59 7s 5934 5938 -595s 5918 -5914 59 14 -5938 5918 -5914 1 59 4 5914 5914 5914 5934 5958 595s 5912 5938 5912 -59 7s 5938 -59 7s 5918 -5914 5918 6018 6018 5914 -5938 5958 -5934 5914 -5912 5918 5918 7 59 7s -595s s -59 59¼ 5912 5912 5912 -5934 5938 -5912 5912 5912 -595s 60 -6018 ,6018 -6038 6038 -61 14 6112 6012 -6034 60 -605s 6038 6034 7 6038 6034 -6118 6118 -61 s 6114 -613s 617s -6218 61 7s -6218 61 7s -6238 615s -61 7 s 61 -6112 6118 -6138 6118 -6112 615s 6112 -6138 6138 6112 60 62 6112 -6134 6158 -62 14 62 14 -6238 6112 61 7s 6112 -61 7s 62 6034 6118 -61¼ 6114 -6112 6114 -615,,,. 62 6134 -62 62 61 7s -62 615s 615s -6134 6114 -615s 6114 -6138 -6l.L4 60 14 -60 7s 6058 -6034 60 7s -6118 61 6114 -6138 61 14 -61 7s 617s -6218 615s -615.i 6118 -6138 6114 -6158 6138 -6134 6158 -61.~ 6138 -615s 605s -61 14 60 7s -6138' 615s 605s -61 6118 -6114 6114 -6134 61916 -61 7A 6034 -60 78 60 34 -61 60 7s -61 60 7s -61 60616 -605s 6038 -6012 6038 -6012 6038 -60½! 6018 -6014 60 14 -6012 6038 -6012 6034 -60 7s 6038 -6012 6038 -6012 6038 -6012 6038 -605s 6014 -6038 6038 -6058 6012 -60 5s 6012 -605s 605s -6013 16 60 14 -605s 605s -61 6012 -61 7s 60616 -60716 60 -60 14 59 14 -5934 595s -5934 581316-5918 5812 -59 -58116 57 7s -5818 58 575s -58 5758 -5713lfl 5734 -58 14 5714 -5734 561116-5634 5634 -5718 565s -561 616 5618 -565s 5118 -52916 52 5514 -5812 -535s 5318 -55 -55 5414 -55 14 545s -5558 54 53 34 -54 14 5112 -5218 4912 -51916 5038 -50 34 4912 -501116 - 53 34 5238 - 53 5138 -515s 51916 -5334 53 5218 -525s 511 316-52616 515s -51 7s 515s - 52 5134 -52 515s -511316 5113 16-5218 517s -52 5134 -52116 5112 -511616 50 7s -5134 50 -50 7s 7 5012 -501 616 5012 -51 505s -501616 50 s -51 505s -50 7s 50716 -5078 491116-5071:6 4912 -49 7s 47 14 -4838 4714 -475s 47616 -4712 46 7s -4712 4412 -45 79 45 7s -47 45 -4638 425s -45 44716 -45 431316-4434 435s -431616 431316-4518 42116 -44316 42 7s -4338 42 7s -4318 426 16 -42 7s 4238 -421116 425s -4312 435s -4438 4334 -4438 50 -545s 4818 -5112 45 -4834 4714 -4912 4434 -45 616 44116 -45 4312 -44116 4312 -4414 -38616 3818 3818 -3958 3834 -3914 371616-39316 33 7s -3412 3112 -3418 3112 -3234 3134 -32516 293m -3014 281616-29916 2838 -295 ,6 27316 -2812 30716 -30916 3 fl 58 -3138 305s -31 30 -30 11 16 30 - 30111e 2934 -3061 29:\ -30'~,. 2913 16-30 2334 -2714 2fill , 6 - 2712 2638 -2 12 2516 16-2734 2711 , 6" 286111 27916 -2~14 2712 -286 18 2714 -2758 2613 16-2738 2658 -261 0, 6 261 11r27 · 6 261616-276 6 28713 -2914 2918 -30316 297 ,f\ -29 11\16 2912 -29 7s 2638 -26 7 R 2538 -2612 241616-25 34 2 o 7s -27 '23916 -2418 2~14 - 'l 3 11 16 2111111-23 '4 21 316 -225s -.? 614 -27916 27716 -2812 2614 -2758 25 -2 6716 26 -2679 261,;, -261516 26¾ -2 ' 14 273s -2811 , 6 2~34 -28 2R15 1i,-286 1~ 3()6 6 -2816 1, 30516 - 2938 31 ¾, -301516 329 6 -3 l 1116 33 ½, -3i 3238 - 31 », r 311 16 -319 16 277 16 -3078 2612 -281 16 243 16 -2634 23" 16 -'243 16 2::n16 -24 223 6 -23616 22 -23:1 16 . 2358 -237 2311 6 -2 ~13 16 231 -235 239 R -245 16 Pence. 594 16 5912 6038 6038 60116 59716 59816 5912 5914 59516 59 1 16 5912 5934 60116 61 6012 6112 6112 61516 61516 6134 61616 62116 611 16 60131,• 61',16 6138 tH38 6lll6 6118 60916 6112 60 716 60916 6012 60516 5914 5R516 56 78 5234 5413111 52916 5114 52 14 51 11 m 5158 50916 505s 485s 4538 4458 42 7s 421116 4711m 45116 :191316 355s 2816 16 29 7s 3034 279, 26 616 277, ~ . 2814 27316 24 ·1,i 2434 263s 271316 30'78 30316 2438 2311 16 --..•. 1837 .•.. 1838 .... 1839 ... . 1840 .... 1841 .... 1842 .... 1843 ... . 1844 .... 1845 .... 1846 .... 1847 ..•. 1848 .... 1849 .... 1850 .... 1851 .... 1852 .... 1853 .. .. 1854 ..•. 1855 .... 1856 .... 1857 .... 1858 .... 1859 ... . 1860 .... 1861 .... 1862 .... 1863 .... 1864 .... 1865 .... 1866 .... 1867 .... 1868 .... 1869 .... 1870 .... 1871 .... 1872 .... 1873 .... 1874 •••. 1875 .... 1876 ... . 1877 .... 1878 .... 1879 .... 1880 .... 1881 .... 1882 .•.. 1883 •••. 188 4 •••. 1885 •••. 1886 .... 1887 •••. 1888 •••. 1889 •••• 189 H .1891 ..•. 189 ...• 189 .... 189 . ••. 189 .... 18 .... 189 ... . 1 1- 9 .... 189. ... . 190 .•.. 190 ••• . l \.J O .••. 190 ... . 190 . ... 190 . •.. 190 . ... 190 . •.. 190 190 GREAT BRITAIN-BANKS & TRADE. COMMERCIAL MOVEMENTS IN 1909. BUSINESS IN ENGLAND IN 1909. (Communicated by our London correspondent.) London, January 8 1910. ·T he year 1909 was a checkered year. When it began there was widespread fear of war in Eastern Europe. It was known, indeed, that neither this country nor France nor Russia intended war. But the relations between Turkey and Bulgaria were strained, and still more so were those between Austria-Hungary and Servia. Indeed, not a few people were persuaded that the Austro-Hungarian Government was on the watch for an excuse to fall upon and crush Servia. If a struggle either between Turkey and Bulgaria or between Austria-Hungary and Servia were to begin, most people were apprehensive that Russia would be unable to hold aloof; and if Russia interfered, there was grave danger that the war might become general. Happily, the Turkish Government acted with the same great prudence which has been shown by the Young Turks consistently. It agreed to accept a money indemnity from Bulgaria. The latter haggled. But Russia happily suggested a means which finally brought about a satisfactory and peaceful arrangement between Turkey and Bulgaria. The Russian, French and British Governments in the long run brought pressure to bear upon Servia and Montenegro. Finally, Servia made explanations and gave promises which satisfied the Austro-Hungarian Government, and peace was preserved, the German Government making representations in St. Petersburg which led to Russia dropping her demand that an international conference should be held. Furthermore, an agreement between France and Germany respecting Morocco -far fairer than most people were prepared for-was reached, and since then Europe has felt relieved from the apprehensions that have weighed upon her for so many years. The fall of Prince Buelow contributed to the more reassured feeling, for though few really believed that the Prince desired war, yet while he remained in office nobody was sure that something quite unexpected and unpleasant might not happen. The settlement of the Balkan question and the arrangement between France and Germany had a stimulating effect upon all forms of business throughout Europe. Unfortunately, in this country domestic politics then became disturbed, and have kept the United Kingdom more or less in a ferment ever since. The Budget introduced in April last aimed at laying the burden of taxation upon those best able to bear it. Naturally, therefore, it was disliked by the wealthy, and by them has been stigmatized as Socialistic. Of course, it is Socialistic in a sense; in the sense, that is to say, that the English Poor Law, the English Factory laws, and the feeding of school children are Socialistic. But in the sense in which the term Socialistic is generally understood, the Budget is clearly not Socialistic. It does not aim at putting an end to private property. On the contrary, it rather aims at strengthening the foundations of private property by imposing upon the wealthy a proportionate share of the cost of the Government. However, it has been very strongly denounced by the wealthy, by all interested in the liquor trade and by the extreme Church of England party. Backed up by these, the House of Lords threw out the Budget. But in so doing, it brought into question the powers of the House of Lords, and the general elections which are now being held are largely fought upon the question of the respective powers of the House of Lords and the House of Commons. The climatic influences of the year have, likewise, been rather unfavorable. The winter and spring were cold and dry, in consequence of which the hay crop was short and most of the corn crops were also adversely affected. Wheat suffered less than any other grain, and in the districts specially suited to it, it promised well when the summer began, especally as there was a fair amount of rain in June. July was again wet, but with the beginning of August there came a https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis burst of real summer weather, when, in the earlier parts of the country, cutting became general. · Had the fine weather lasted , the wheat crop, at all events, would have repaid the labors of the farmers. Unfortunately, the weather broke again t he middle of August and continued so unsettled throughout the remainder of that month and in September and October that harvesting was protracted longer than for any year since 1879. The hay crop, already short, was largely damaged by the absence of sun and the frequent showers. Wheat in many parts of the country could not be gathered in for weeks together, and consequently was, much of it, spoiled . Oats, under any circumstances, would have been a very medium crop. The bad weather made it worse, and barley likewise suffered. The losses of farmers were somewhat alleviated by the higher prices that have prevailed; but the year, when everything is said, was an unfavorable and exceedingly anxious one for farmers. Potatoes promised to be a very fine crop, but the incessant rains brought early disease. Even the grass crop, though after· the heavy rains it looked luxuriant, is described as wanting in nourishment. Cattle farmers, however, did well, because prices were good, especially the prices for all kinds of horned cattle. In spite, however, of the unseasonable weather and anxious politics, the year has seen a revival in trade. The revival has, of course, been kept somewhat in check, firstly, by the fear of war, and recently by the apprehensions excited by the Constitutional struggle between the two Houses of Parliament. Still, it has made way . Furthermore, it has been tried in the last quarter of the year by an entirely unexpected rise in the value of money, a rise which came so suddenly that the Bank of England in a single fortnight put up its rate of discount from 2½% to 5%. The rise was mainly due to the coffee legislation of the State of San Paulo in Brazil, a legislation which allows coffee to be exported at a very low export duty of 5 francs per bag until 9 ½ million bags of Santos coffee and 800,000 bags of Minas coffee are reached, when the duty is suddenly raised to 20 francs. The result is that coffee planters have rushed the coffee to market as quickly as they possibly could, and the sales so accumulated in a very brief time that the only means of paying for the purchases was by exporting gold. In consequence gold was shipped from London and from New York in large quantities. There were other demands, of course, but this was the principal one for the time being, and, taken with political anxieities and the rest, did undoubtedly slacken the trade improvement. As a whole, however, the indications show that in spite of setbacks trade has improved and is still improving. One other circumstance is to be borne in mind, and that is the short cotton crop not only in the United States but also in Egypt. At first the Egyptian crop promised to be one of the finest ever grown. The earlier estimates were that it would reach about 7 ½ million can tars. Later it was discovered that worms were destroying the bolls. The estimate at present is that the yield will be only from about 5 ¼ to 5 ½ million cantars. Unquestionably the cotton industry is adversely affected. A good deal of speculation in Liverpool has so swelled the returns of the Liverpool Clearing House as to make its totals misleading. That trade, however, is steadily improving, is demonstrated by the Clearing-House returns, the railway returns and the Board of Trade returns. The revenue figures this year are not as good a guide to the condition of the country as they usually are. The practice in this country is for the taxation proposed in the Budget to be collected from the time the Budget is introduced under a simple resolution of the House of Commons. Until the Budget was thrown out the usual practice was followed. Since then people have been anxiously watching what wouid be the result. Beyond all question there is no law justifying the authorities in collecting the proposed taxes. On the other hand, the banks and joint-stock companies have agreed amongst themselves to pay the proposed income tax, and all the great trades have likewise agreed to pay the other new taxes . But if any person chargeable to the income tax chooses to move the courts, it is certain that the new taxes cannot be enforced. That being so, nobody can judge what the result will be, although it is universally taken for granted that as soon as the new Parliament meets, whatever may be the constitution of the House of Commons, it will immediately proceed to pass such measures as will regularize the collection of the new taxes for the whole year. Still, no opposition has so far been made to the payment of the new taxes. It is to be noted that the revenue returns for the first nine months of the year-that is to say, for the nine months ending with Dec. 31-amounted to £94,295,547, which compares with a total revenue for the corresponding period of 1908 of £92,868,347, an increase of £1,427,200. The returns of the London Clearing House for the whole year amounted to £13,525,446,000, an increase compared with the preceding year of £1,405,084,000., or 11.6%. The returns of nine of the provincial clearing houses amounted to £833,072,142, an increase of £34,042,873, or 4.2% over the previous year. It is to be borne in mind, however, with respect t o the clearing-house returns, firstly, that prices are decidedly hi_gher this year than they were last year, and that BUSINESS IN GREAT BRITAIN. 53 particularly the price of cotton has been nearly doubled, and speculation has been very active in Liverpool, which swells, therefore, the Liverpool clearings. On the other hand, the rise in cotton is somewhat counterbalanced by the falling off in cotton manufactures, which lessens the Manchester clearings. For-the first half of the year the receipts from goods traffic of 17 of the principal railway companies of the United Kingdom amounted to £25,213,000, being a decrease of £403,000, or 1.6%. The receipts from passenger traffic amounted to £18,860,000, a decrease of £236,000, or 12.3%. Adding the two together, the aggregate traffic amounted for the first half of the year to £44,073,000, being a decrease compared with the first half of 1908 of £639,000, or 1.4%. The goods traffics were very disappointing in the first half of the year, for the improvement in trade did not begin to manifest itself until very nearly the end of the half-year. Towards the end, it is true, there was an increase in goods traffic; but nevertheless the result, as above stated, was very unfavorable. For the second half of the year the receipts from goods amounted to £27,128,000, an increase of £427,000, or 1.6%. The receipts from passengers amounted to £23,829,000, a decrease of £353,000, or 1.4%. For the six months the total receipts, goods and passengers, amounted to £50,957,000, an increase of £74,000, or 0.1 %- At the beginning of the half-year the goods traffics fell off heavily, but during the last fourteen weeks of the year there were almost unbroken increases in goods . It is natural that the railway returns should be slower in giving indications of the trade improvement than trade reports and clearing-house returns, for, of course, an interval of time must elapse between the placing of orders and the delivery of goods. On the other hand, it is not to be forgotten that there has been a general rise in prices; but the rise in prices does not much affect the traffic returns. The traffic returns, taking them altogether, are perhaps the surest indications of the movement of trade, and they show that, in spite of dear money, anxious politics and disappointment regarding cotton, the goods traffic steadily improved during the last quarter of the year. The total value of the imports into the United Kingdom for the year amounted to £ 624,740,517, being an in crease over the preceding year of £31,787,030, or 5.3%. The total value of the exports of British and Irish produce and manufactures for the year amounted to £378,379,897, an increase of £1,275,620, or 0.3%. The total value of the re-exports .amounted to £91,365,465, an increase of £11,741,768, or 14.7% . The British imports since Jan. 1 have been as follows: Difference. £ -2,852 ,020 -1,959,928 -81,316 +2,099,267 +592,771 Import.sJanuary __________ ____________ February _____________________ March _______________________ April _________________________ ------- ---- --- - --------May 1909. £ 53,511,359 50,468,197 52,034,063 49,193,978 44,851,086 1908. £ 56,363,379 52,428,122 52,115.379 47,094,711 44,258,315 June----------- - ------------July ----------- --- ----------August _______________________ September ____________________ October ______________________ November"------------------December _____________________ 51,721,282 50,316,588 48,410,212 49,473,546 52,651,756 61,605,222 60,785,883 46,135,319 +5,585,963 46,769,015 +3 ,547,573 42,739,706 +5,670,506 48,014,655 +l,458,891 50,746,279 " +1,905,477 49,904,477 +11,700,745 56,825,984 +3,959,899 Year ________ __ _____________ 624,740,517 592,953,487 +31,787,030 The exports since Jan. 1 have_:been as follows: Export.sJanuary ______________________ February _____________________ March ----------------------April -----------------------May ------------------------.June _________________________ .July ------------------ - ------ August----------------------September ____ _________ _______ October ______________________ November ____________________ December _____________________ 1909. £ 28,803,046 28,024.452 31,904,673 28,958,458 29,525,746 29 ,717,975 35,487,240 32.114.700 32.801,024 33,930,778 33,321,455 33,789,897 1908. £ 34,407,767 31,949,514 32,910.760 30,705,338 31,066,877 28,953,139 33,705,725 30,342,676 31,621,206 33,007,586 29,147,415 29,401,576 Year _______________________ 378,379,444 377,103,824 The chief feature of the coal trade in the past year was the coming into effect on July 1 of the Eight Hours Act. There followed a time of unsettlement. The boys, particularly, were difficult to manage, and at several pits they went on strike. It is said that, in consequence of the Act, and the disturbances it brought, there had been in many cases reductions in the output of as much as 10%. It would seem, however, that those reductions were very temporary, for, as a matter of fact, the exports of coal for the twelve months exceeded those of the year before by 529,624 tons, or 0.8%. Whether there is an increase in the cost of working is a matter that is much disputed, the employers insisting that there is, and the men denying it. The facts will not be quite clearly established until some more time passes. During the year there have been complaints that in some foreign markets, especially the Mediterranean, keen competition was encountered both from the United States and from Germany. As regards the United States, that competition no doubt will grow, although when trade is really active in the United Sta tes its own coal is all required at home. With referenc·e to the German competition complained of, that was prol ably due to the extreme depression in every branch of German trade last year. When German trade is active, as, for example, in the early part of 1907, there is a very strong demand for British coal. Indeed, in 1907 there were loud complaints that German coal was neglected, and the demand for British coal keen. Last year the demand for German coal at home was so small that Germany was compelled to seek new markets. Whether her competition will be able to con tinue as strong as when her trade becomes prosperous once more remains to be seen. During the first half of 1909 the falling off in all branches of the iron and steel trades, which was persistent throughout 1908, continued. But in the second half of the year there was a slow recovery. More work was done, and business increased as the end of the year drew nigh. It is true, of course, that the Cleveland pig in Connal's public store showed an increase up to the end, and it is also true that many contracts were taken at prices which left little or no profit. Upon the whole, however, the second half of the year was an improvement upon the first, and the last couple of months were the best of the year. There was a marked improvement in the pig iron trade with Canada, which took as much as 93,435 tons of British pig iron, against ·36,316 in the corresponding period of the year before. Japan also bought more freely, and the Italian demand, which for some time past has been growing, was larger than ever last year. On the other hand, the German demand fell off. Prices conPer Ci. tinued very low to the middle of the year. In the last half Wages -5.1 of the year they tended upwards, though slowly. -3.7 declined somewhat, though the fall upon the year was only --0 .1 from 2 to 3%, whereas it was as much as 10% in the year +4.4 +1.3 before. In the manufactured branches of the industry, +12.1 railmakers were the most fully employed, and shipments +7.6 +13 .3 were good, especially to Argentina, India, Australia, China, +3.0 Canada and Africa. Generally speaking, steel workers +3.7 In the iron trade +23 .5 were better employed than iron workers. +6.9 proper, the year is said to have been one of the worst in +5.3 the memory of any one living. The exports of iron and steel from Great Britain have been Pere,. as below each year since 1876, inclusive. Difference. £ -5,604,721 -16.3 -3,925,062 -12 .3 -3 .1 -1,006,087 -5.7 -1,746,880 -5.0 -1,541,131 +764,836 +2.6 +5.3 +1.781,515 +5.8 +1,772,024 +l,179,818 +3.7 +923,192 +2.8 +4,174,040 +14.4 +4,388,321 +15.0 +1,275,620 +0 .3 The re-exports of foreign and colonial produce since Jan. 1 show the following contrast: Re-export.sJ anuary __________ ___ ________ _ 1909. Difference. 1908. £ 6,687,551 February _______ ___________ __ _ 8,473,634 March ______________________ _ 7,540,319 - - -___ - - -____ - - - -April _______ - - - --- -May __-- -----_____ _ 8,631.006 7,251,248 June - • - - - - -- - - - - - - - - - - - - - - - - - 7.965.605 July ------------------------- 7,374,231 August----------------------September ____ ___ ____________ _ 6,990.059 6.464,143 October ___ ___ _______ ________ _ 7,601,053 November ___________________ _ 6,751,890 December. __________________ __ 9,634,921 £ 6,599,209 7,497,673 5,965,255 6,773,228 6,431,654 6,029,605 6,310,928 6,81\l,707 5,287,814 7,082,070 6,682,193 8,186,526 £ Peret. +88,342 +975,961 +1,575,064 +1,857,778 +819,594 +1,936,293 +1,063,303 +170,352 +1,176,329 +518,983 +69,697 +1,448,395 +1.0 +13.0 +26.4 +27.4 +12 .8 +32.3 +16 .9 +2 .0 +22.2 +7.3 +1.0 +17.6 Year-------- ---- ----------- 91.365,465 79,623,697 +11,741,768 +14.7 Note.-The aggregate figures are omclal. They Indicate that slight adjustment ■ have been made In the monthly returns as Issued. The complete trade figures of imports and exports into and from Great Britain for three years are as follows: EXPORTS AND IMPORTS . 1909. 1908. Export.s. £ £ Home products ______ _______________ 378,379,444 377,103,824 Re-sh ipments or Imports. _________ __ 91,365,465 79,623,697 Total exports _________ ___________ 469,744,909 456,727,521 Imports. Total merchandise __________________ 624,740,517 1 592,953,487 Excess or Imports over exports ____ 154,995,608 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 136,225,966 1907. £ 426,035,083 91,942,084 517,977,167 645,807,942 127,830,775 EXPORTS OF IRON AND STEEL FROM GREAT BRITAIN. 1909_ -- -- -- -- ------- -- 1908 ------------------1907 ------------------1906 ------------------1905 ------------------1904 ------------------1903 ------------------1902 ------------------1901 ------------------1900 ------------------1899 ------------------1898 ------------------1897 ------------------1896 ____ • _________ - - - - 1895 _____ --- ------ ___ -1894 ------------------1893 ------------------1892 ------------------1891 ___________________ 1890 __ -- ---- ---- -- - - - - 1889 ___________________ ------------------1888 1887 ------------------1886 - -----------------1885 ------------------1884 ___ --- --- ____ --- _-1883 ------------------1882 -------- ----------188.1 ------------------1880 1879 ------------------___________________ 1878 ------------------1877 ------ - -- -- - -- - - - - 1876 ------------------- Other Pto Iron. Ralls. Descrtpttons. Tons. Tons. Tons. 1,141,754 1,296,521 1,943,939 1,665,809 982 ,876 810,934 1,065,380 1,102,566 839,182 1,427,525 1,380,342 1,042,853 1,201,104 1 ,060 ,165 866,568 830-,985 840 ,294 767,053 840,055 1,145,268 1,190,371 1,036,319 1,158,174 1 ,044,257 960,931 1,269,576 1,564 ,048 1,758,072 1,480,196 1,632,343 1,223 ,436 924,646 881,442 910,905 583,127 452,521 429,161 460,328 546,569 525,371 604,076 716,210 572,724 463,731 590,667 609,403 782,045 747,662 457,552 425,242 558,375 468,003 702,247 1,035,431 1,089,892 1,020,002 1,011,779 739,651 714,276 728,540 971,165 936,949 820,671 693,696 463,878 441,384 497,924 414,556 2,493,182 2,347,479 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 1,658,531 1,517 ,458 1,466,055 1,196,170 933,193 965,285 899,809 Total. Tons. 4,218,063 4,096,521 5,152,227 4,682,200 3,721,382 3,262,842 3,564,601 3,579,104 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,«182 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 The shipbuilding trade, though still depressed, has recovered very materially during the year just ended . There had been good relations maintained all through between employers and employed, there has been a material increase in the outturn compared with the preceding year, and the profits have also been better. Moreover, the improvement was more marked in the later months of the year, and the trade is looking forward to a much more prosperous year to come. ~Lloyd's return is not yet; published, and therefore BUSINESS IN GREAT BRITAIN. 54 it is impossible to give full figures for the whole United Kingdom. But we may take it that the Scottish returns fairly represent those of the whole country. And while the Scottish returns show a decrease of 251 vessels compared with 1908, there is an increase in tonnage of 27,131 tons, and in horse power of as much as 109,438. There was a small falling off on the east coast of Scotland, but then shipbuilding on the east coast is a small matter. On the Clyde there was a decided increase. The cotton trade has been decidedly the worst of any branch of our industry during the past year, owing mainly to the bad crops and the consequent rise in the prices of raw materials. The rise began as early as March. It was continued in April, indeed, up to mid-summer. There was a slight setback in August. But prices rose again, and when it was discovered that the Egyptian crop would be more of a failure than the American, there was a very sharp rise. The result, unquestionably, has been serious for Lancashire, where hopes had been high because of the good monsoon in India this year, the excellent promise of all the Indian crops, and the reasonable certainty, therefore, that the buying power of India would be very greatly increased. The prospects, both in China and Japan, were also good. In Lancashire, as a consequence, hopes were high that the year just closed would usher in a new period of prosperity. Unfortunately, the great rise in the price of the raw material has checked consumption. It is feared that the check will continue all through the new year, for although India will be very much more prosperous than for some years past, it is not thought at all probable that she will buy at the high prices now ruling on anything like the scale to which she has been accustomed in past times of prosperity. Compared with the cotton trade, the woolen has been extremely prosperous throughout the year. There has been a very large increase in the quantity of wool offered for sale at the public auctions in London. Nevertheless, the prices of merino wool have risen about 20%, while there has been a rise of from 30% to 50% in cross-breds. The sales in Australia have also been very large. But it is to be recollected that the shipping of goods from Australia was greatly hindered by the coal strike, which rendered it difficult for ships to get a sufficient quantity of coal. The buyers of wool were thus largely dependent upon sailing vessels, and naturally the arrivals, both in Europe and America, were greatly delayed. No doubt this had its influence upon the later sales of the year in London, the more especially as the competition, both from the United States and from the Continent of Europe, was extremely keen. The spinning branch of the trade has been good, profits have been fairly satisfactory, and work has been continuous. The weaving branch has also been decidedly prosperous. The quantities and values of textile exports from Great Britain for the last three years are given in the following table: EXPORTS OF TEXTILE FABRICS. Years' Exports. 1909. 1908. 1907. 214,762,200 5 ,530,808,500 50,075,200 167,011,300 13,705,900 151,893,900 50,911,900 75,659,700 74,180,500 241,076,700 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 Quantities. Cotton yarn ________ ___ _____ lbs. 215,238,600 Piece goods _____________ yds. 5,722,328,100 Jute yarn _______ _________ __Jbs . 54,346,700 Piece goods _____________ yds. 188,023,600 Linen yarns _______ _________ Jbs. 15,532 ,900 Piece goods _____________ yds . 223,958,400 Woolen yarn _______________ lbs . 58,268,100 Woolen tissues _____________ yds. 78,685 ,700 Worsted tissues ____________ yds. 85,098,600 Values. Cotton yarn _____________ _____ _ Piece goods ________________ _ Jute yarn __ __________ ________ _ Piece goods ________________ _ Linen yarn __________________ _ Piece goods ________________ _ Woolen yarn _________________ _ Woolen tissues _______________ _ Worsted tissues ______________ _ £ 11,822,110 68,279,769 655,103 2,105,988 952,874 5,728,994 5,004,427 10,205,787 6,581,971 £ 12,844,700 70,231,486 713,291 2,024,540 903,467 4,265,080 4,608,556 9,644,812 5,932,674 £ 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 In the shipping trade, the depression, which was so very great during 1908, continued for the greater part of the year just closed. Early in the year, nevertheless, the more farsighted shipowners began to perceive signs of improv_e ment. Still the return on freights remained disappointing. The fact was that a greater amount of business was done all through 1909 than in 1908, that a greater number of ships was employed, and that, therefore, there were evident signs of revival. On the other hand, freights remained disappointingly low. In addition to this, it is to be added that business in the Atlantic trade did not increase as much as had been expected. The competition there remained too great throughout the year. It was also reported that in the Mediterranean trade the revival was less than had been looked for. In the more distant trades, and especially in the trade with the Far East, there was unquestionably an improvement. Freights did not rise much, but they gave a profit and a larger number of ships was employed. Over and above this, the great depression in 1908 had checked shipbuilding. There was, therefore, a smaller addition to the number of ships afloat than for a great number of years preceding; and, on the other hand, several worn-out ships had to be laid up. The improvement has been most marked in the latter weeks of the year, which seems to encourage the hope that matters are quickly mending and that the new year will be more propitious-to the shipping trade than its immediate predecessor. Upon the Stock Exchange business, speaking generally, has been slack. In some departments the losses incurred https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis have been very heavy. Yet there have been other departmen ts in which a fair amount has been done all through the year, and there has been great activity and very considerable profits have been realized. For the first three or fourmonths the fear of war in the Balkans deterred operatbr& from engaging in new risks, and for the most part business. was slack. Nevertheless, even then there was great activity in the industrial department. A multitude of new rubbercompanies had been formed at the end of 1908 and a stilt larger crop sprang up in the beginning of 1909. They were received with great favor by the public, and prices wererushed up to a considerable height. During the year business in these properties has continued with, of course, many fluctuations. But as the year closed the rubber market came again into favor and prices generally improved. When the danger of war in southeastern Europe passed off, and more particularly when the arrangement between Germany and France became known, a new spirit was infused into all the stock markets, and foreign government securities and foreign industrial securities likewise generally improved. Paris is 'the largest market for foreign government securities,. and money has been abundant and cheap in Paris. Besides, the arrangement between France and Germany created thebelief everywhere that for some years, at all events, peace was. assured. The strength of Paris and the general belief in peace all helped to advance international securities. Purely British securities, on the other hand, have been in disfavorthroughout the greater part of the year. The opponents of the Government allege that the Budget frightened investorsaway from British securities, and that this led to the general demand for foreign securities; that, in fact, the foreign market benefited from the discredit of the British market. Thereis in reality little foundation for the statement. For nearly a century the British investing public has passed through alternating fits of eagerness for foreign investment and dislike for them. Generally it is attracted to foreign countries-by the soundness of their condition and the large profits that can be made. It loses its head in the end and invests money recklessly. Then it becomes dissatisfied with the consequences of its own rashness, and it turns away from foreign investment and confines itself to home investment. It overdoes home investment after a while, and then it takes up foreign investment again. During the nineties the British public could scarcely be induced to purchase a foreign security of any kind. Therefore it drove home securities toexaggerated prices, and now it is in one of its cool fits regarding home securities and devotes itself entirely to foreign investments. It looks, however, as if British investments. were again coming into favor, for British railway stocks , which have been greatly depressed for nearly ten years, havedecidedly recovered during the past few weeks, and everything seems to indicate that a large investment is going on in them at the present time. For the first three months of the year money was very abundant and cheap. In the first half of the year the average rate for three months' bank bills was only £ 1: 17: 11 the lowest since 1897. Indeed, Treasury bills in May were placed at a trifle over 1¼%- Money continued very easy during the following three months, but in Octoberthere was a dramatic change, the Bank of England raising. its rate of discount on Oct. 7 to 3%; a week later it raised the rate to 4%, and at the end of another week to 5%, thus. causing a rise in a single fortnight of from 2 ½% to 5%. Thecauses of this sudden change in the money market were· numerous. First amongst them undoubtedly was the apprehensions created by the fear that the House of Lordswould throw out the Budget, that the country, in consequence, would be left without any financial law, and that serious trouble in the money market might ensue. Secondly, at the beginning of October the Egyptian cotton crop wasexpected to be very large. Owing to the short crop in Amer- • ica, however, the price of cotton rose rapidly, and in consequence Egypt was able to take a good deal of gold. As a matter of fact, it has taken somewhat under 4 millions. sterling. But at the beginning of October the general estimate was that the requirements of Egypt would be very much larger. A third cause was the heavy and rapid salesof coffee by Brazil, which enabled that country to take gold from London on an unprecedented scale. Fears were entertained that other countries would require the metal on a. large scale. Then it was known that a considerable amount. of loans negotiated in London and Paris on American ac-count in previous years was about to fall due. The amount of the loans was grossly exaggerated, and the fears that difficulties might arise were no doubt spread for "bear" purposes. But, acting with all the other influences referred to,. the effect was that the Bank of England found it necessary to double its rate of discount in a single fortnight. Happily ,. gold began to flow in in large amounts. The Bank of France, to relieve the London money market, took a very considerable amount of sterling bills on the understanding that thegold paid for them should be returned when the bills becamedue. Above all, it was found that there was no difficulty on the part of American debtors to meet their obligations in Europe, while the anxieties caused by the prospective rejection of the Budget gradually died out. Indeed, when theBudget was rejected it caused scarcely a ripple on the surface· of the market. The leaders of all the great trades met together and agreed to go on paying the new taxes until thenew P arliament meets. The banks and other institutions BUSINESS IN GREAT BRITAIN. 55 which receive money on account of customers agreed to pay The situation of the Bank of France as to its stock of gold the new rate of income tax, and the public has acquiesced and silver, according to the last returns of each month of in what has been done, the result being that on Dec. 9 the 1907, 1908 and 1909, was as follows, stated in pounds sterling: Bank of England was able to lower its rate of discount to GOLD AND SILVER IN BANK OF FRANCE-(00,000s omtuea). 4½%- As we write, the rate has been reduced to 4%. During the year there have been six changes in the Bank rate. Gold. Silv'r Total 1909. 1908. Gold.Stlv'r Total! 1907. Gold. Stlv'r Total On Jan. 14 it was put up from 2½% to3%; on April 1 it was reduced from 3% to 2 ½%. On October 7 it £ £ £ £ £ £ j £ £ £ was raised from 2½% to 3%; on the 14th to 4%, and on the Jan. 28 .. 145,4 35,4 180,8 Jan. 30 •• 107,4 36,3 143,7 Jan. 3L. 105,8 39,4 145,2 Feb. 25 •• 145,6 35,5 181,1 Feb. 27 •• 110,6 36,2 146,8 Feb. 28 •• 105,5 39,4 144,9 21st to 5 %. It was put down again to 4½% on Dec. 9. Mch. 25 .• 144,1 35,6 179,7 Mch. 26 •• 110,6 36,3 146,9 Mch. 28 .• 104,2 39,2 143,4 In spite of these changes and the high rates during the final Aprll 29 __ 144,5 35,6 180,1 April 30 •• 113,9 36,2 150,1 Aprll 25 •• 103,5 39,2 142,7 May 27 •• 147,4 35,6 183,0 May 29 •• 121,7 36,6 158,3 May 30.- 105,9 39,5 145,4 quarter of the year, the average Bank rate for the whole year June 24 __ 148,3 36,0 184,3 June 25 •• 126,1 36,8 162,9 June 27 •• 110,5 39,7 150,2 was £3:1:10, comparing with £2:19:10 for 1908. The July 29 .• 148,0 36,0 184,0 JUiy 30 •• 127,7 36,3 164,0 July 25 •• 112,4 39,3 151,7 Aug. 26 .• 148,2 36,1 184,3 Aug. 27 •• 129,0 36,2 165,2 Aug. 29 __ 111,8 38,8 150,6 average rate in the open market for three months'. Bank bills Sept . 30 .• 145,3 36,0 181,3 Sept. 24 .• 129,8 36,0 165,8 Sept. 26 __ 111,5 38,5 150,0 was £2:5:9, comparing with £2:6:0 in the preceding year. Oct. 28 .. 144,8 35,8 180,6 Oct. 29 •• 131,8 35,6 167,4 Oct. 3L. 111,4 ;37,5 148,9 Nov. 25 __ 142,6 35,9 178,5 Nov. 26 •• 135,3 35,6 170,9 Nov. 28 •• 108,0 37,3i145,3 Dec. 30 .. 139,8 35,0 174.8 Dec. 3L. 139,5 35,3 174,8 Dec. 26 •. 107,6 37,0144,6 BANK OF ENGLAND RATE OF INT~REST. Rate Number % of days. Rate Number % of days. The total amount of capital applied for in the London market by means of public issues during the year amounted to Jan. 1 to Jan. 11_____ 6 11 days Jan. 1 to April 5_____ 4 95 days £206,865,651, an increase over the preceding year of £2,.Jan. 11 to J a n. 18__ ___ 5 7 days Aprtl 6 to May 3____ _ 3½ 28 days 238,746, or 1:1%, and an increase over 1907 of £80,458,837, .Jan. 18 to Jan. 25____ _ 4½ 7 days May 4 to June 2L____ 4 49 days Of the total, the home issues amounted to £24,Jan. 25 to May 24 _____ 4 119 days June 22 to Sept. 13 _____ 3½ 84 days or 63.7%. May 24 to June 14_____ 3½ 21 days Sept. 14 to Oct. 11_____ 4 28 days 442,994, colonial to £68,755,805, Indian to £15,884,581 and .June 14 to July 19 _____ 3 35 days Oct . 12 to Oc t . 19 __ __ _ 5 8 days foreign to £97,782,271. Including foreign, home and colonJUiy 19 to Dec. 31_ ____ 4 165 days Oct. 20 to Dec. 31_ ____ 6 73 days ial, railways applied for £63,859,592; governments for £55,Year's average _______ T96 365 days y , ·- - d 1901. ears average_______ 4 .27 35 5 ays 052,372, and municipalities for £20,279,146. Jan. 1 to Jan. 3_____ 4 2 days 1907 The total gold imported during the year amounted to .Jan. 3 to Feb. 7 _____ 5 35 days Jan. 1 to Ja~. 17- ____ 6 17 days Feb. 7 to Feb. 21_ ___ _ 4½ 14 days Jan. f18 to April lL ____ 5 84 days £54,691,829, and the total exported to £47,249,536; so that Feb. 21 to June 6_____ 4 105 days April 12 to Aprll 25_____ 4½ 14 days it would appear that there remained in the country at the .June 6 to June 13_____ 3½ 7 days Aprll 26 to Aug. 15_____ 4 112 days close of the year £7,442,293. But it is to be borne in mind June 13 to Oct. 31_____ 3 140 days l Aug. 16 to Oct. 31_____ 4½ 77 days Oct. 31 to Dec. 31__. ____4_ 62 days Nov . I to Nov. 4 _____ 5½ 4 days that considerable sums are brought into the country and Year's average____ ___ 3.72 365 days Nov. 5 to Nov. 7 _____ 6 3 d_ays taken out of the country in the pockets of visitors, of which 1902. Nov. 8 to Dec. 31_____ 7 54 days The total Ian. 1 to Jan. 23_____ 4 23 days - - - - - - no account is taken in the Board of Trade returns. .Jan. 23 to Feb. 6 _____ 3½ 14 days Year's average ______ 4.92 365 days of silver imported during the year was £11,814,889, and the Feb. 6 to Oct. 2 _____ 3 238 days total exported was £12,785,182, so that the exports exceeded 1908. Oct. 2 to Dec. 31_____ 4 90 days Jan. 1 to Jan. 2 ____ _ 2 days the imports by £970,293. All through the year there was a Year's average _______ ~ i 6 5 days Jan. 3 to Jan. 16 ____ _ 76 14 days 1903. The first deJan. 17 to Jan. 23 ____ _ 5 7 days good demand for gold in the open market. .Ian. l to May 21-____ 4 140 days Jan. 24 to Mcb. 5 __ __ _ 4 42 days The French deMay 21 to June UL--- - 3½ 28 days Mcb. 6 to Mcb. 19 •• __ _ 3½ 14 days mand was almost exclusively for France. .June 18 to Sept. 3_____ 3 77 days Mcb. 20 to May 28 ____ _ 3 70 days mand, however, fell towards the end of January, and most Sept. 3 to Dec. 31-____ 4 120 days May 29 to Dec. :n ____ _ 2½ 217 days of the gold for the next few months offering in the open marYear's average_______ 3.75 365 days In May an Austrian 1904. Year's average _______ 3.01 366 days ket went into the Bank of England. .Ian. 1 to Aprll 14_____ 4 105 days demand sprang up, and in September a Russfa,n demand . 1909. Aprll 14 to April 21_____ 3½ '1 days April 21 to Dec. 31_____ 3 254 days Jan. 1 to J an. 13 ____ _ 2½ 13 days That was checked by the strong demands for Egypt and South Jan. 14 to Mcb . 31_ ___ _ 3 77 days America in the latter part of September, after which the imYear's average _______ 3T9 366 days April 1 to Oct. 6----- 2½ 189 days 1905. In the sil0ct. 7 to Oct. 13 ____ _ 3 7 days ports of gold immensely exceeded the exports. .Jan. 1 to Mcb. 8_____ 3 67 days Oct. 14 to Oct. 20 ___ _ _ 4 7 days ver market, the year has been little eventful. A large busiMcb. 9 to Sept 6_____ 2½ 182 days Oct. 21 to Dec. 8 ____ _ 5 49 days Sept. 7 to Sept. 27 _____ 3 21 days Dec. 9 to Dec. 31_ ___ _ 4 ½ 23 days ness has been done, but the range of prices has been exceedSept. 28 to Dec. 31_____ 4 95 days ingly narrow. China was a large buyer, and as usual there Year's average _______ - 3365 days Year's average ____ ___ 3.10 365 days was a certain amount of speculation in India, prompted by the good monsoon. Germany and Russia in the latter part The appended table, made up from the official statements of the year bought, but neither the United States nor France ofjthe Bank of England, shows the position of the Bank as did much. The following are the bank and open market rates of inregards bullion, reserve, &c., each week of the year: terest at a number of the principal Continental cities on the BANK OF ENGLAND IN 1909-(00,000s omittea) . first day of each month during 1909 and on the closing day of the year: Year. Year. 1900. 1906. Deposits. Securities . Res'rve Bullion Markel Note in both of Rate GovCirDeNotes Bank 3Months' ern- Other. and part- Public. Other. cul~ Rate. Bank ment. Coin. lio n . ments. Bills. ----------£ £ £ £ £ £ £ % % 47,3 17,6 35,2 31,2 7,5 20,0 2½a .Jan. 6 ____ 29,6 2½ 13 ____ 29,l 5,7 42 ,9 15,3 31,6 30,2 21,0 3v 2½ 1909 . -- 20 ____ 29,1 27 --- _ 28,7 3 ___ _ 29,1 28,9 17 ____ 28,5 IQ_____ 24 2 ,6 Mch. 3 ____ 29,1 10 ____ 28,7 17 ____ ---- 28,7 24 2 ,7 31_ ___ 29,4 prll 7 ---- 30,0 14 ____ 29,5 21- ___ 29 , l 28 ____ 29,0 May 5 ____ 29,2 12 ____ 29,1 19 __ __ 29,2 26 ____ 29,4 .June 92 ____ ____ 29,6 29,4 16 ____ 29 ,1 23 ____ 29,4 30 ••.. 30,2 .July 7 ____ 30,2 14 ____ 29,9 21. ___ 29,9 23 ____ 29,8 Aug. 4 ____ 30,2 IL ___ 29,8 18 ____ 29,5 25 ____ 29,5 ept. l_ ___ 29,7 3 ___ _ 29,3 15 ___ _ 29,0 22 ____ 29,0 29.____ --- 29,7 29,7 Oct. 136 ____ 29,3 20. --- 29 ,0 27. •• - 28,8 Nov. 3 ____ 29,2 10 ____ 28,8 28,4 17 ---24 ___ _ 28,5 ___ 29,0 Dec. 8l_____ 28,4 15 ____ 28,3 22 ____ 29,1 29. ___ 28.~ Feb. --1 . 33,0 34,3 34 ,7 36 ,2 37,0 37,9 38,2 39,2 40,0 40,9 41,7 39,5 39,0 39,4 39,5 38,5 38,1 38,5 38, 1 37,3 38,3 39,9 40,9 41,1 41,1 41,0 40,7 39,2 38,6 39,1 39,9 40,3 40,2 40,3 40,3 39,4 37,2 34,9 33,8 32,9 32,4 32,2 33,2 35,3 36,5 36,3 35,9 34,5 33,4 32,6 7,6 6,8 7,4 10,5 12,1 14,3 ' 15,8 17,3 18,8 20,0 19,2 14,2 14,2 12,7 12,8 11,9 14,8 14,9 14,5 13,5 13,9 13,0 13 ,4 12,3 10,3 8,4 8,3 8,5 7,2 9,3 10, 2 9,8 8,9 8,1 8,2 9,0 8,8 7,0 5,6 6,4 7,1 6,4 5,9 6,3 6,9 5,3 7,2 7,9 9,8 10,8 41,l 43,2 43,3 41,3 41,2 43,2 40,7 39,9 41,3 42,5 44,2 44,8 43,1 45,1 44,7 43,9 40,8 41,0 42,3 43,9 42,3 44,7 44,9 58,5 49,8 48,1 47,9 45,7 45,6 44,3 44,8 45,2 46,5 47,8 47,5 45,7 42,7 45,2 46,4 40,5 40,8 40,8 39,2 40,2 40,4 40,7 38,6 37,4 41,0 50,2 14,8 14,8 14,8 14,8 14,7 14,7 15,1 15,1 15,1 15,1 15,3 11),0 16,0 15,4 15,4 15,4 15,4 15,4 15,4 15,4 15,4 15,4 15,4 15,4 16,9 15,4 15,4 15,4 15,4 15,4 15,4 15,4 15,3 15,3 15,3 15,3 15,2 17,7 17,7 16,8 16,8 16,4 16,2 16,0 14,4 14,4 14,4 14,4 14,5 14,7 --- 29,5 29,2 29,9 29,3 29,6 33,2 32,0 31,3 33,6 35 ,1 35,6 32,9 31,2 31,4 30,9 30,5 30,6 30,6 32,0 33,5 31,l 30,8 30,7 43,8 31,8 29,5 29,6 29,0 28,7 28,4 28,8 28,5 29,3 29,3 28,9 28,8 28,6 28,6 29,1 25,5 26,9 27,1 23,7 22,9 24,2 23,5 23 ,1 24,0 31,2 41,8 22, 4 24,0 24,0 25,8 26,9 27,7 27,6 28,9 29,7 30,7 30,8 27,9 27,9 28,8 28 ,9 27,7 27,4 27,7 27,2 26,2 27,4 29,3 29,9 29,3 29,4 29,5 29,3 27,9 26,8 27,8 28 ,9 29,2 28,9 29,4 29,7 28,9 26,0 23,6 22,9 22,3 22,0 21,5 22,8 25,4 26,5 25,8 26,0 24,7 22,8 22,2 -- ---- -- -- ---- -2½c -- -- -- -- ------- ----- --- ---------- -- 3d 4e 5/ -- -- ---- -- 4½g -- -- -- a Date when this rate was made was May 28 1908. - b Jan. 14 1909. 1909. d Oct . 7 1909. e Oct. 14 1909. /Oct. 21 1909. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis g Dec. 9 1909. 2 11-16 2 11-16 2 5-16 2 1-16 2 3-16 2¾ 2½ 2½ 2¼ 2 1 9-16 I½ 1 5-16 1 5-16 1¼ 1¼ 1 5-16 1% 1 9-16 1% 1 15-16 l½ 1 11-16 l½ 1 3-16 1 7-16 I¾ 11/s 1 7-16 1 7-16 1 7-16 1 9-16 1 7-16 I½ 1½ 1 13-16 2 3-16 · 21/s 3¼ 3½ 41/s 4½ 4½ 4½ 3½ 3½ 3 13-16 3 15-16 3¼ 3½ · c April 1 1909. Rates of interest atParisBank rate ______ Open market. __ BerlinBank rate ______ ....0 pen market •.• HamburgBank rate ______ Open market ___ FranktortBank 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. __ N .-Nominal. Jan. F eb. Mch Apr. May J'ne. July Aug Sep. Oct. Nov. D ec. Dec. 31 1 1 1 1 1 1 1 1 1 1 1 1 3 1 4 4 2¼ 2 5 5 5 3½ 3½ 3½ 3½ - 3½ 3½ 3½ 4 2¾ 2¥ l ½ 2¼ 2½ -2.¼t 2~ ~½ 4½ 4½ 3¾ 4 5 5 5 3½ 3½ 3½ 3½ 3½ 3½ 3½ 4 2¾ 2¾ l ½ 2¼ 2½ 2¼ 2½ 3½ 4½ 4½ 3¾ 3 3 3 3 3 3 3 3 3 3 3 3 1 ½ 1 ½ l ½ 1 ¼2 l ¼ 1 ¼ 2¼ 2¾ 2¾ 2¾ 2¾ 2 4 2¾ 2 - 4 4 3½ 3½ 3½ 3½ 3½ 3½ 3½ 4 2¾ 2½ d 2¼ 1 ½ 2% C 2¾ 2½ a 3 3 3 3 l ¾ 2½ l¾ 2 3 3 3 2½ 21/s 2 3 3 3 3 2½ 2½ 2½ 2 5 5 k 3 3 2½ 2½ 2½ 3 1½ 11/s e 2½ 2% 2½ 3 3 3 l½ 1¾ 2 4 4 4 3% 3½ 3 4 4 4 31/s 3½ b 5 4½ 4½ 4 C 3 3 3 3½ 3 ½ 3½ 4 3 4 3½ 4 b 4 4 4 3½ 3¾ 3½ l ¼ l¼ 2½ 31/s 2¼ 2¼ 5½ 5½ 5½ 5½ 5½ 5½ 5½ 5½ 5½ 5½ 5½ 5½ 5½ N N N N N N N N N N N N N 4½ 4½ 4½ 4 ½ 4½ 4 ½ 4 ½ 4½ 4½ 4½ 4½ 4½ 4½ 4 3 3 4½ 4½ 3 3½ 4 3½ 3 3½ 3½ 3 5 5½ 5 5 4½ 4 5 4 5 4 5 4 5 4 5 4 4½ 4½ 5 5 3½ 4 5 5 5 5 a 2 7-16: b 3 1-16; c 2 11-16; d 3 7-16; e 1 11-16; k_3 15-16. PRICE OF SILVER FOR THREE YEARS. Law. Aver. d. d. d. 23 7-16 23 13-16 Jan 241/s 23 9-16 23 11-16 Feb 24½ 23 1-16 23 3-16 Mch 231/s Apr 24 7-16 23¾ 23¼ 24 5-16 May 24½ 24½ 23 15-16 24½ J'ne 24½ JUiy 23½ 23¾ 23½ Aug 24 23 7-16 23 9-16 23 11-16 Sep 23½ 23% Oct 23 13-16 23 1-16 123½ 23 5-16 Nov 231/s 123½ Dec 24 5-16 23 9-16 24 Y'r 24¼ 1907. 1908. 1909 . High. High. Law. Aver. d. 25 11-16 27 24½ 25 13-16 25½ 26% 25 13-16 25 7-16 25 9-16 24 5-16 25½ 25½ 24 5-16 24 13-16 24 24¼ 24¾ 25¼ 24 3-16 24½ 24½ 23 13-16 24¾ 231/s 24 3-16 23 9-16 23½ 23 1-16 23 11-16 24 22 15-16 23 5-16 22¼ 23 3-16 22 22½ 23 1-16 23 11-16 27 d. d. 22 241/s High. Law. Aver. d. d. d. 32 7-16 31 5-16 31¼ 31½ 32½ 31½ 32 1-16 30 7-16 31 5-16 30 30¼ 30½ 29 15-16 30 7-16 31½ 31 1-16 30% 30 15-16 31 15-16 31 31¾ 32¼ 31½ 311/s 31 9-16 31 1-16 31 5-16 27 7-16 28¼ 30½ 28 1-16 26½ 27¼ 24 3-16 25 3-16 26¼ 32. 7-16 24 3-16 31 3-16 TRADE AND COMMERCE-RETURNS OF. FOREIGN IMPORTS AND EXPORTS. OUR FOREIGN TRADE IN 1909. The aggregate foreign commerce of the United States for the calendar year 1909 exceeded that of any former year with the exception of I°907. This result was due in an important extent to an augmentation in the value of imports, the exports failing to equal those of 1908 and falling much below those of 1907. Almost every commodity we receive from abroad came in more freely than in 1908-gains being notable in material for manufacturers' use, and to a lesser extent in manufactures in shape for ready consumption or to be further used in manufacturing. The result is a total of imports for 1909 exceeding any previous aggregate in our history. Our total foreign trade (imports and exports combined) for 1909, as indicated by the official stat ement, was $3,203,815,851, or an increase of 334½ millions over 1908, a decline of 143 millions from 1907 and an excess of 85 millions over 1906. Merchandise imports and exports in 1909 were variously influenced. First of all it should be recalled that it was a year of tariff revision, a period when merchandise imports for the twelve months were both hastened and delayed to get advantage of the lower or higher tariff changes in process of settlement. To put one's self into position for rightly studying the surroundings~ no better course could be adopted than to study our Retrospect of 1909, say from pages 11 to 32, especially the facts given for July. The aggregate value of imports for 1909, at $1,475,612,580, compares with $1,116,374,087 in the previous year and $1,423,169,820 in 1907. We have become so used to 1,000 million totals that the reader forgets it is only since 1904 that the inflow of commodities annually exceeded that amount . . Furthermore, since the 1,000-million mark was passed, or more properly speaking since 1903 (a period of six years), the further addit ion to imports has been greater than in the preceding 30 years. With the exception of fibres (flax, &c.), all the important import items shared in the growth of the 1909 aggregate. Even luxuries had a part in swelling the new record; this is conspicuous in the decided increase in the inflow of diamonds, imports very largely exceeding those for either 1908 or 1907, and closely approximating the record total of 1906; art works, furs and champagne also recorded notable gains. And many articles of general use exhibited appreciable increases; hides and skins imports for the year, for example, were largely ahead of those for 1908, both in quantity and value, due to changes in tariff rates. A very large excess in value of India rubber imports was in no small part caused by the higher prices, the large and increasing demand for the commodity for automobile tires, &c., accounting mainly for the advance. Of raw wool the inflow was more than double that of 1908, and in manufactures of wool and cotton important gains were recorded. Coffee, silk, copper and linens also came in much more freely than in the previous year. We have remarked above that part of the gain in value of India rubber https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis imports is due to higher prices here for the article. That in fact has been the case with many commodities that have shown an increased import. In fact, it may be st ated in passing that for hides, goat-skins, tin, raw silk, jute, wool, leaf tobacco and cotton cloths, as well as a number of other articles, prices were materially higher at the close of 1909 than in 1908, but of practically every article a greater quantity was imported. The tariff law and its adjuncts, a good part of which, as stated above, were fixed upon and passed early inAugust, and the details of which will be found ~n our Retrospect of 1909on pages 24 to26(underJuly); of this issue, was of course no small influence in establishing the new values of a number of leading articles of import. The removal of the duty upon hides of cattle, for instance, acted immediately to stimulate the inflow of hides and the admission free of any impost of art works over a certain age was reflected in a considerable augmentation in the value of those articles coming in. Moreover, in anticipation of higher duties under the new tariff, the importation of a number of commodities increased prior to its passage. The total of merchandise exports, as stated above, was somewhat less than in 1908, but much below 1907, t he aggregate as reported having been $1,728,203,271, against $1,752,835,447 in the previous year. and $1,923,426,205 two years ago. Agricultural products, of course, continued to be the leading item in the total, but it is a notable fact that it is due entirely to a falling off in the outflow of that class of goods that there is a decrease in exports this year. This is clearly seen when we state that in breadstuffs alone, and due to much smaller shipments of wheat and corn, the loss in value from 1908 reached 57 millions of dollars. High prices served to check exports of cotton during the closing months of the year, with the result that shipments for the twelve months were only 7 ,576, 153 bales, against 8,436,143 bales in 1908. The average export price in the late year, however, was 11½ cents per lb., as compared with 10 cents in 1908 and 11¼ cents in 1907, giving a value of $461,919,568 to the 1909 exports of 7,576,153 bales; whereas for the 8,436,143 bales exported in 1908 the value was but $438,829,110 and the 8,135,734 bales sent out in 1907 covered $469,836,601. Every important item included under provisions showed a greater or less decline from the previous year, and the aggregate value of all such exports for 1909 was only $151,964,037, against $181,492,154 in the preceding year and $197,634,350 in 1907. Petroleum shipments for 1909 were of record total as regards quantity, but in consequence of lower prices exhibited a moderate decline in value. Exports of 1,570 million gallons valued at $103,838,590 in 1909 compare with 1,547 million gallons and $108,815,455 in 1908 and 1,295 million gallons and $91,383 ,064 in 1907. Of other leading articles of export that showed a decreased outgo in 1909, we may mention vegetable oils; seeds, naval stores, oil cake and meal, cars and locomotives. In fact, the only notable TRADE AND COMMERCE. expansion in 1909 was in cotton manufactures and leather and manufactures. As indicating the changes from year to year in the exports of leading staples and the relation those principal items bear to the aggregate outward movement of merchandise, we present the following compilation. EXPORTS OF LEADING PRODUCTS FOR SIX CALENDAR YEARS. Exports. 1909. 1908. 1907. 1906. 1905. 1904. s s s s s Cotton ·--- 461,919,568 438,829,110 469,826,661413,137 ,936 392,600,644 368,839,188 Breadst'ffs 139,460,593 196,262,583214,639,405189,069,690154,300,630 98,307,218 Prov'n.'3&c 151,964,037 181,492,154 197,634,350 208,586,501190,600,703 166,164,40-1 Cattle,sh'p & hogs_ 16,616,121 27,533,329 34,808.819 39,445,859 42,974,935 43,646,211 Pe 'I'm &c 103,838,590108,815,455 91,383,064 85,738,866 79,640,929 80,624,207 Total ___ 873,798,909952,932,631 1008372299 935,978,852 860,117,841 757,581,228 All other articles_ 854,404,362 799,902,616 915,053,906 862,264,582 766,872,954 693,727.512 TotaL __ 172S203271 1752835247 1923426205 1798243434 1626990795 1451308740 From the foregoing it will be noted that in 1909 the value of the exports of the five leading staples was much less than in any year since 1905, with the falling off from 1908 slightly more than 79 millions. On the other hand, the outflow of "all other articles" was 54 millions in excess of the previous year but appreciably below 1907. The important expansion of imports during the year concurrent with a decline in the volume of exports explains, of course, the considerable drop in the trade balance in favor of the United States in 1909. It shows not only a decided decline from that of 1908, but is, moreover, the smallest export balance since 1895. The favorable balance in 1909 was $252,590,691, against $636,461,360 in 1908 (the record) and $500,256,385 in 1907. As in the previous year, the movement of gold was against us in 1909. In fact, never before has the outflow of the precious metal been so heavy as in the year lately closed. To South America the outflow was most notable, exceeding 50 millions of dollars, of which the greater part to Argentina. Japan drew upon us heavily also-in fact to the extent of nearly 30 millions. Imports, moreover, were less than at any time since 1902. The result has been a net export of gold of $88,793,855, which compares with a like movement of $30,939,163 in 1908 and an excess of imports of $88,182,391 in 1907. Of silver we exported net $11,404,607, against $9,613,541 in 1908. Bringing together the various net balances, we reach the following comparative summary of the year's foreign trade as a whole. 57 MERCHANDISE EXPORT AND IMPORTS (CALENDAR YEARS). Calendar Year. Exports. s To(,O},Trade. Excess. s $ $ l'II 864,718,068 403,586,010 461,132,058 Imp. 57,546,048 460,352,088 573,111,099 lmp.112,759,011 1,033,463,187 1,124,802,647 468,837,948 655,964,699 lmp.187,126,751 567,757,867 595,248,048 Imp. 27,490,181 1,163,005,915 669,872,553 662,115,907 Exp. 7,756,646 1,131,988,460 510,947,422 503,162,936 Exp. 7,784,486 1,014,110,358 590,666,629 427,347,165 Exp. 163,319,464 1,018,013,794 620,302,412 480,446,300 Exp. 139,856,112 1.100,748,712 431,612,383 Exp. 305,479,590 1,168,704,356 737,091,973 765,159,825 513,602,796 Exp. 251.557,029 1,278,762,621 889,683,422 696,807,176 Exp. 192,876,246 1,586,490,598 833,549,127 670,209,448 Exp. 163,339,679 1,503,758,675 767,981,946 752,843,507 Exp. 15,138,439 1,520,825,463 795,209,316 687,066,216 Exp. 108,143,100 1,482,275,532 749,366,428 629,261,860 Exp. 120,104,568 1,378,628,288 688,249,798 587,868,673 Exp. 100,381,125 1,276,118,471 713,347,290 660,893,586 Exp. 52,453,704 1,374,240,876 715,212,840 704,576,343 Exp, 10,636,497 1,419,789,183 691,620,852 719,484,680 Imp. 27,863,828 1,411,105,532 827,055,750 762,884,881 Exp. 64,170,869 1,589,940,631 855,399,202 814,909,575 Exp. 40,489,627 1,670,308,777 970,265,925 818,364,521 Exp. 151.901.404 1,788,630,446 938,020,941 830,490,141 Exp. 107,530,800 1,768,511,082 875,831,848 766,239,846 Exp. 109,592,002 1,642,071,694 825,102,248 676,312,941 Exp. 148,789,307 1,501,415,189 824,860,136 801.669,347 Exp. 23,190,789 1,626,529,483 1.005,837,241 681,579,556 Exp. 324,257,685 1,687,416,797 1,099,709,045 742,595,229 Exp. 357,113,816 1,842,304,274 1,255,546,266 634,964,448 Exp. 620,581,818 1,890,510,714 1,275,467,971 798,967,410 Exp. 476,500,561 2,074,435,381 1,477,946,113 829,149,714 Exp. 648,796,399 2 ,307,095,827 1,465,375,860 880,419,910 Exp. 584,955,950 2,345,795,770 1,360,685,933 969,316,870 Exp. 391,369,063 2,330,002,803 1,484,753,083 995,494,327 Exp. 489,258,756 2,480,247,410 1,451,318,740 1,035,909,190 Exp. 415,409,550 2,487,227,930 1,626,990,795 1,179,144,550 Exp. 447,846,245 2,806,135,345 1,798,243,434 1,320,501,572 Exp. 477,741,862 3,118,745,006 1,923,426,205 1,423,169,820 Exp. 500,256,385 3,346,596,025 1,752,835,447 1,116,374,087 Exp. 636,461 ,360 2,R69 ,209 ,534 , :; Q t;. , ? p,,,-"1 ')t;:'l - .... " ... " .. 1 47A <: 1 ? e Q'l 1,728 .20:J.271 EXPORTS 12 MONTHS ENDING DEC. 31. Exports1909. 1908. 1907. Ai rlcultural Implements _________________ $27,327,428 $25,264,939 $25,597,272 Automobiles and parra of._____________ 7,786,617 4,948,594 5,756 ,972 Cars for steam railways__________________ 2,539,503 5,727,330 9,191,023 40,200,096 Coal---------------------------------- 38,441,518 36,886,509 Copper, not Including ore ________________ 92,584,640 90,555,503 100,800,355 Cotton manufactures ____________________ 34,414,860 26,854,183 26,323,062 Hops _ _ _ __ __ _ _ _ ____ _ _ _ ___ _ _ _ __ __ __ __ _ _ 1,421,000 2,455,410 2,862,845 Instrumenra, &c ________________________ 10,332,720 9,288,074 12,990,110 Iron, steel, &c __________________________ 157,680,331 151,113,114 197,066,781 Leather, &c ____________________________ 47,146,415 40,530,356 42,420,076 Naval stores ___________________________ 16,103,076 18,047,495 22,266,677 Oil, VeietabJe __________________________ 21,684,355 21,777,194 19,651,232 P araffin and paraffin wax________________ 7,608,624 6,922,638 10,209,448 5,522,494 Seeds __ _ __ _ _ __ _ _ _ _ _ _ __ __ _ _ __ ____ _ _ _ _ _ _ 4,247,776 8,856,352 Tobaccco, not Including manufactured _____ 36,844,121 32,644,984 32,841,503 Wood and manufactures _________________ 72,312,880 71,437,748 86,082,714 IMPORTS 12 MONTHS ENDING DEC. 31. Imports1909. 1908. 1907. $4,226,962 Art works _____________________________ $16,845,919 $4,386,616 3,157,168 Automobiles--------------------------- 3,071,002 2,558,819 Books_._ - _ _ _ __ _ _ _ _ _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 6,136,071 5,161,407 6,586,900 7,491,343 B readstuffs _ _ ___ ____ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ___ 8,923,690 7,035,176 Chemicals, &c __________________________ 86,401,432 68,648,058 87,240,191 4,059,786 Coal, bituminous _______________________ 3,597,991 5,398,167 Cocoa or cacao _________________________ 13,358,534 12,999,836 15,165,579 71,824,961 Coffee -------------------------------- 86,524,006 71,807,994 Copper-pig, bars, Ingots, &c ____________ 30,670,280 22,930,261 38,790,334 21,810,910 Cotton-------------------------------- 15,058,262 13,465,318 Cotton manufactures ____________________ 68,380,780 56,532,199 79,524,943 30,088,459 F lax, hemp, &c.-unmanufactured _______ 33,511,696 41, 0 48,545 F lax, hemp, &c.-manufactured _________ 54,860,698 44,893,173 65,555,648 30,307,169 F r ulra and nuts ________________________ 34,603,684 40,455,067 8,136,423 F urs --------------------------------- 11,328,726 6,825,493 Hides and sklns ________________________ 103,758,277 57,653 ,781 77,650,059 India rubber ___________________________ 79,264,817 44,696,526 49,813,361 Iron and steel. _________________________ 30,516,536 19,957,385 38,789,851 Jewelry, diamonds, &c __________________ 46,077,984 15,752,310 34,587,571 11,524,473 L eather and manufactures _______________ 16,270,406 18,892,533 10,466,365 P a per and manufactures _________________ 12,013,272 12,783,406 Silk-raw, &;c __________________________ 74,000,605 64,239,034 71,776,374 Silk-manufactured ____________________ 32,963,162 27,020,212 41,035,836 83,389,812 Sugar ---------------- - --------------- 90,296,895 88,906,795 16,660,322 T ea ---------------------------------- 16,553,032 14,892,961 32,075,091 T in ---------------------------- - ----- 27,559,937 23,932,560 !!4,506,028 T obacco-unmanufactured ______ • _______ 25,897,650 24,291,164 Wood and manufactures oL _____________ 50,294,509 39,638,777 47,603,716 Wool-unmanufactured _________________ 55,530,366 23,304,465 39,673,007 Wool-manufactured ______ _____________ 22,058,712 15,552,243 23,416,434 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 -------1896 -------1897 -------1898 -------1899 -------1900 -------1901 - ------1902 -------1903 -------1904 -------1905 -------1906 -------1907 -------1908 - - - -- -- 1909 -------- () '\"I GOLD. Y',/1,r Ending Du. 31 SILVER. 1--------------1-----------Exussof EXU!S"of Exports. lmpor't, $ $ YEARLY TRADE BALANOll. 1909. 1908. 1907. 1906. 1905. Excess o/$ $ S S S Merchan. exports __ 252,590,691 636,461,360 500,256,385 477,741,862 447,846,245 Silver exports _____ 11,404,607 9,613,541 15,713,606 111,12g,2110 21,573,967 Imports. Exports(+> OT Exports. Imports(-). $ s lmportt. Exp'rts( + )o, Imports(->. s s 1870 __ 53,103,745 10,430,561 +42,673,184 27,846,083 15,259,199 +12,586 884 1871 -· 44,915,975 5,841,948 +39,074,027 32,524,495 10,962,467 +21 ,562,028 1872 __ 68,638,125 11,113,290 +57,524,835 32 .048,799 10,068,714 +21.980,085 1873 __ 25,496,118 20,537,254 +4,958,864 38,076,207 9,212,185 +28,864,022 Tota}. __________ 263,995,298 646,074,901 615,069,891 494,471,112 469,420,212 1874 -- 43,149,091 7,422,806 +35,726,285 29,577 984 7,830,998 +21.746,986 Gold exports. _____ 88,793,855 30,939,163 *88,182,391*108,870,22:1 •3,498,938 1875 __ 53,413,947 14,338,789 +39,075,158 25,889,567 8,547,357 +17,342,210 1876 __ 31,231,739 23,673,291 +7,558,448 25,122,736 10,798,0t3 +14,324,693 +7,352,983 29,336,929 12,141.660 +17.195,369 Grand total _____ 352,789,153 677,014,064 427.787,500 385,600,890 465.921,274 1877 -- 18.982,638 11,629,655 1878 -8,655,948 10,477,859 -1.821,911 18.209,252 18,389,884 -180,632 • Excess of Imports. 1879 _. 4,115.446 78,767,941 -74,652,495 21.701.552 14,425,017 +7,276,535 1880 __ 3,062,459 73,644,698 -70,582 ,239 12,983,442 11,631,025 +1.352,417 1881 __ 2,603,543 60,398,620 -57,795,077 17,063,274 8,595,645 +8,467,629 1882 -- 38,721,079 13,402,528 +25,318,551 17,317,055 9,098,385 +8.218,670 1883 -6,048,770 22,055,961 -16,007 ,191 25,794,670 14,153,357 + 11,641,313 1884 -- 40,948,246 27,957,657 +12,990,589 29,563,748 15,504,777 +14~58,971 1885 •. 11,417,207 23,645,311 -12,228,104 33,280,542 17,772,718 +15,507,824 1886 __ 41,283,222 41,309,835 -26,613 27,112,707 19,758,414 +7,354,293 1887 -9,144,426 44,903,327 -35,758,901 27,733,192 21,000 .721 +6,732,471 1888 __ 34,526,447 11,034,074 +23,492,373 30,020,603 21,761,359 +R,259,244 1889 -- 50,935,412 12,061,520 +38,873,892 20,742,875 26,799,458 +13,943,417 1890 -- 24,063,108 20,379,456 +3,683,652 28,609,101 30,764,904 -2,155,803 1891 __ 77,093,065 45,203 ,377 +33,889,688 27,930,116 27,915,905 +14,211 1892 -- 70,545,328 18,165,056 +58,380,272 36,362,281 31,452,956 +4,909,326 1893 -- 79,983,726 73,280,575 +6,703,151 46,357,748 27,765,696 +18,692.052 1894 __ 101,849.735 21,3'i0,607 +80,499,128 47,245 807 17,633,594 +79.6)2.213 11!95 __ 104,967.402 34,396.392 +70.571,010 54,211.086 24 373,347 +29.837,739 896 -- 58,256.890 104 731.259 -46,474,369 64,056,741 30,279,715 +33,777 001 BREADSTUFFS AND COTTON EXPORTS FOR CALENDAR YEARS. 897 _ 3(,276,401 34,022 .812 +253 .589 58,661.792 33.082,302 +25.578,990 1898 -- .1..6.194,954 158,163,952 -141,968,998 53,797,104 29,131.580 +24,665 .724 1909. 1908. 1907. 1906. 1905. 1899 __ 45,379,411 liJ 334.964 -5,,55,553 53,461 737 ao.843,929 +22,617,808 Wheat & flourBushels_ _ _ _ _ 92,085,642 151,338,121 160,127,925 127,209,434 71,788,579 1900 _. 54,134.623 66.749,084 -12,614,461 66,221 .664 40 .100 3-13 +26 .121,321 +3.022,059 55,638,358 31,146.782 +2!.491,576 Values-- ___ _$100,529,381 $153,741,845 $151,044,577 $107,585,377 $67,101,166 1901 __ 57,783,939 54,761.880 Wheat.av .price $1.04 13-32 99½c. 94¼c. 78¼c. 82 9-16c. 1902 -- 36,030,591 44,193 317 -8,162,72;_, 49.272,954 26,402,935 +22,870,010 Flour, av. price $5.15¾ $4.73 $4.25 $4 .08 $4.40 1903 __ 44,346,834 65,267,696 -20.920,862 40.610.342 23,974,5011 +16 635.834 Corn-bushels.. 36,205,652 37,577,717 83,200,872 102,518,817 111,265,931 1904 •. 121,211,827 84 .803.234 +36,408.593 50.135,245 2R,087.042 +24,048,203 Values... 25,444,990 $25,216,114 $46,991,377 $52,840,269 $60,154,326 1905 __ 46,794.467 50,293,405 -3 498,938 57.513,102 35 939,135 +21,573,967 Average price 70c. 67c. 56 7-16c. 5l½c. 54c. 1906 __ 46,7:)9,158 155,579,380 -108 .870 222 60.957,091 44,227,841 +16.'/29.260 Oats-bushels.. 1,272,294 1,204,859 1,745,859 25,480,450 28,822,001 1907 -- 65,215,681 143,398,072 -88,122,391 61,625,866 45,912,360 +15,713,606 Values__ $672,469 $627,547 $886,040 $9,336,121 $9,960,006 1908 __ 81,215,456 50,276,293 +30,939,163 51,837,671 42,224,130 +9,613,541 Average price 52¾c. 52¼c. ,. 60¾c. 36¾c. 34 9-16c. 1909 __ 132,880,821 44,086,966 +88,793,855 57,592,309 46,187,702 +11,404,607 Cotton-bales_ 7,676,153 8,436,143 8,132,734 7,450,110 8,009,374 Note.-For years 1886 to 1909 inclusive, the figures embrace gold and silver In Averageprlc ll¾c. 10c. ll¼c. l0¾c, 9½c. ore; In the years preceding both were included 1n the merchandise movement. With all items included, it will be observed the exhibit for 1909 is an excess of exports of $352,789,153, which contrasts with $677,014,064 in 1908 (the greatest in our history) and $427,787,500 in 1907. 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. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 58 TRADE AND COMMERCE. IMPORTS AND EXPORTS BY EXPORTS OF LEADING ARTICLES FOR YEARS 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 1877. in each of the last three fiscal years. 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In preceding years gold and silver ln ores were includ ed In merchandise. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Articles. 1908·09. 1007·08. 1006·07. Agricultural Implements, value ..... $ 25,694,184 24,344,398 26,936,456 Automob iles and parts of, value .... $ 5,992,200 5,277,847 5,502,241 Bacon and hams .... ..........• lbs. 456,748,898 462,959,563 459,900,105 do do value ............. $ 49,456,797 50,648,305 50,169,179 Beef , canned, value ............... $ 1,645,822 2,467,875 1,615,808 do fresh and salted .......... lbs. 167,741,734 249,050,192 345,350,070 do do value ......... $ 16,170,961 23,659,327 30,215,455 Barley , value .................... $ 4,672,106 3,205,558 4,556,295 Books, maps, etchings, &c., value .. $ 6,351,445 6,107,053 5,813,107 Brass and manufactures of, value ... $ 3,510,276 3,701,871 4,580,455 Butter ....................... lbs. 5,981.265 6,463,061 12,544,777 do value .................... $ 1,208,210 1,407,962 2,429,489 Ca ttle, value . . _..•....... . ...... . $ 18,046,976 29,339,134 34,577,392 Ca rriages and horses and trolley cars, 5,650,731 and parts of, value .............. $ 4,819,115 6,067,519 7,679,535 Ca rs for steam roads, value ........ $ 3,464,952 8,550,263 Caslngs for sausages, value ......... $ 3,520.191 3,959,384 3,422,271 1,180,415 Cement , value . . ...... ... ..... .. . $ 1,1 43 ,657 1,470,317 1,942,238 1,858,646 Cereals, p repared, table food, value.$ 1,885,015 2,012,626 Cheese , value ............... ..... $ 857,091 1,092,053 Chemicals, drugs and dyes, not In• eluding medicines, value ......... $ 13,297,928 14 ,397,342 14,539,186 Clocks and watches and parts, value.$ 2,517,332 2,848,725 3,169,272 Coal, anthraclte ........•...... tons 2,869,762 2,837,778 2,481,920 do do value ............ $ 14,275,430 13 ,83 7,397 12,154,640 Coal , bltumlnous .. .. . ......... tons 9,018,867 9,884,957 8,812,332 do do value ............ $ 23,041,365 25,518,362 22,573,122 Coffee, value ...... .. ...•......... $ 3,885,616 4,788,471 4,959,417 Coke, value ...................... $ 2,752,275 2,718,385 3,013,088 Copp er ore, value ................ $ 1,417,791 1,808,131 1,838,588 Copp er, manufactures of, value ..... $ 85,290,186 104,064,580 94,762,110 Corn ........................ bush . 35,853,412 52,445,800 83,300,708 do value ...................... $ 25,194,466 33,942,197 44,261,816 Corn meal , value ................• $ 1,549 ,010 2,053,447 2,313,410 Cottolene, lardlne, &c., value ...... $ 6,115,307 6,035,418 6,166 ,9 10 Cotton, Sea Island .......... 100 lbs. 97,408 126,996 76,058 do other.............. 100 lbs. 44,382,444 38,04 2,991 45,106,114 Cotton, Sea Island, value .......... $ 2,035,120 3,351,132 2,075,446 do other, value ... . ........... $ 415,355,545 434,434,070 479,202,351 Cotton m anufactures-Colored .. yds. 121,508,345 80,264,971 120,286,042 do do value ..... $ 7,165,579 5,809,019 7,502,082 Uncolored ................. yds. 246,123,137 125,729,841 206,054,297 do value .......•......• $ 14,527,501 8,459,064 13,737,165 All other, value ......... .... ... $ 10,185,426 10,909,675 11,066,165 Cyclesandpartsof,value .......... $ 723,893 796,277 1,182,914 Earthen, stone and China ware, vaL$ 803 .635 1,145,679 1,097,000 Eggs, valu e ............ .. ..... ... $ 1,199,522 1,540,014 1,542,789 Feed grain for animals, value ..... $ 4,169,328 5,874,140 4,466,358 Fertilizers, value ................. $ 9,283,416 10,970,931 8,596,711 Fish, fresh , dried, pickled, &c .. vaL$ 6,113,052 5,685,916 5,536,856 Flax, &c., manufactures of, value .. $ 7,284,318 7,225,798 8,308,112 Flour {wh eatJ ................ bbls. 10,521,161 13,927,247 15,584,667 do val ue.. . . ...... .. ....... $ 51,157,366 64,170,508 62,175,397 Fruits {Including canned, dried and preserved) and nuts, value ....... $ 16,568,080 14,338,864 17,588,432 Furs and fur skins, value .......... $ 9,207,770 7,712,890 7,139,221 2,604,717 2,505,417 Glass and glassware, value ... •..... $ 2,173,193 Glucose or grape sugar, value_ ..... $ 2,346,089 2,540,640 3,017,527 5,473,623 4,814,901 5,762,709 Grease , scraps and soap stock, value.$ Gunpowder, &c., value ........ - ... $ 2,478,714 3,705,517 4,082,402 938,433 988,749 1,165,475 Hair and manufactures, value .... - . $ Hay, value ....... ..... . _ .. _ ..... $ 1,147,753 976,287 1,463,010 3,531,972 1,271,629 Hops, value .. .. - ................ $ 2,963,107 4,359,957 Horses , value ................... $ 3,386,617 2,612,587 1,760,032 1,271,190 1,563,225 Hides and skins, other than furs, val.$ 7,428,714 7,432,832 7,573,570 India rubber, &c., manufac.,value-$ 8,927,294 11,578,010 13,661,455 Instruments, scientific, value ...... $ lron and steel, and manufactures of, not Including ore, total value .... $ 144,951,357 183,982,182 181,530,871 Jewelr y, gold and silver........... $ 1,259,790 1,496,686 2,060,144 Lamps , ch andeliers , &c. , value .... $ 1,715,939 1,827,216 1,875,869 Lard · ·····-··················lbs . 528,722,933 603,413,770 627,559,660 do value ..................... $ 52 ,71 2,569 54,789,748 57,497,980 Leather and manufactures of, value.$ 42,974,795 40,688,619 45,476,969 Malt liquors, value ..... . ......... $ 1,010,787 1,020,172 1,215,340 Marble and stone and manuf., value.$ 1,195,759 1,2 48,99 6 1,433,123 Medicines, patent or prop., value ... $ 5 ,833,883 6,475,713 5,834,850 Milk, value ...................... $ 1,375,104 2, 455,186 2,191,111 Musical Inst. and parts of.value . ... $ 2,619,772 3,371,521 3,256,063 Nickel, nickel oxide, &c., value .... $ 3,395,174 2,948,058 3,218,862 Oats , value ...................... $ 804,759 624,569 1,670,881 Oatmeal, value . ............... .. $ 516,524 705,853 1,122,162 Oil cake a nd meal, value ...... .. .. $ 25,836,134 21,866,761 26,415,627 Oil, corn, value . . ............. . .. $ 1,293,580 1,450,120 1,083,929 Oil, cotton ·st!ed .. ........... gallons 51 ,087,329 41 ,01 9,991 41,880,304 do value .. ········-···$ 20,851,380 17,226,451 17,074,403 Oil, Ill ml natlng . . . ......... gallons 1080542 456 1041725901 894,529,432 do do value ............ $ 71,329,901 70,809,415 56,249,991 Oil , lu bric., and heavy parafflne-gals. 144,254,271159,763,900136,140,226 do value . . . . . . ......... $ 18,307,242 20,370,613 17,179,562 Oil, mineral, crude, Including all natural olls . ............. - .... gallons 169,8 55,309 135,223,575 128,175,737 do do value .•............ $ 6,907,525 6,465,114 6,626,896 Oil, naph t ha, value ... •·······-···$ 5,805,482 4,003,827 2,735,598 Ole omarga rine {Including oleoL._lbs. 182,874,304 215,479,332 200,734,785 do value . . . . . .. .... $ 19,420,376 19,578,222 17,340,339 Paints, pigments and colors, value-.$ 3,959,080 4,001,824 3,931,899 Paper and manufactures of, value .. $ 7,663,139 8,064,706 9,856 ,73:l Paraffl n e and parafflne wax .... _lb~. 137,403,569 178,709,678 185,511,773 do do value ....... $ 6,445,917 8,740,929 9,030,992 P h otographic goods .. . .......... .. $ 4,181,716 . _...... . ••...• P ork, fresh and salted .......... lbs. 61,910,295 165,880,405 177,895,188 do v a lue .. -·········-········$ 5,537,456 14,884,104 16,310,944 Poultry and game, value .......... $ 848,644 881,792 1,086,618 Oil, resld u um, value ........ .... .. $ 3,649,387 2,467,471 2,063,668 Rosin, pit ch, tar, &c ....... ., . . bbls. 2,191,286 2,740,871 2,597,588 do do value ...... . .. $ 8,083,242 11,495,448 11,444,869 Rye , value ...................... $ 1,049,809 2,184,335 562,016 Seed, all k inds, value ......... .... $ 5,256,623 8,683,688 11,004,609 Soap.value ..............•....... $ 3,472,431 3,407,220 3,806,097 Spirits, distilled, value ............ $ 1,883,967 1,816,287 1,827,757 Spirits of turpentlne ......... gallons 17,502 ,028 19,532,583 15,854,676 do do value .......... $ 7,018,058 10,146,151 10,241,883 Sta r ch, value ....•............... $ 780,155 1,142,054 1,126,465 Sugar a n d molasses, value ......... $ 5,468,502 3,361,611 3,179,619 'f'a llow ........................ lbs . 53,332,767 91,397,507 127,857,730 do value .................... $ 3,000,366 5,399,219 7,182,688 Tin, manufactures of, value ........ $ 772,690 1,011,733 1,181,534 T obacco (leaf).~ ............... lbs. 282,688,917 323,033,034 331,548,309 do value ........•.. $ 30,757,931 34,342,293 33,193,881 T obacco manutactures, value ...... $ 4,701,617 4,736,522 5,735,613 Toys, value ...... . ............... $ 1,098,187 733,274 693,378 Vegetables, Including canned, value.$ 3,760,466 3,895,294 4,007,833 Wheat ......... .......•..•. _ bush . 66,923,244 100,371 ,057 76,569,423 do value-·-········-······-·$ 68,094,447 90,736,767 60,214,388 Wood and m a nutactures ot, value .. $ 67,867,432 81,521,305 83,349,575 Wool and manufactures of, value-._$ 1,976,607 2,261,919 2,287,926 Zi nc and manufactures of, value ... _$ 1,470,6_61 1,606,032 2,143,574 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 rin the statement. Articles. 1908-09. 1907-08. 1906-07. 59 Arttcles. 1908-09. 1907-08. 1906-07. Sugar, not above No. l6 ________ lbs. do value ____________________ $ do above No. 16, value _______ $ Sulphur ore, value ________________ $ T ea --------------------------lbs. do value ____________________ $ T in, blocksorplgs ______________ lbs. do value ____________________ $ T in plates _____________________ lbs. do value ____________________ $ Tobacco, leaL _________________ lbs. do value ____________________ $ Toys, value ______________________ $ Vanilla beans, value ______________ $ V e getables, 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 __ $ 4183546 986 96,290,396 264,602 2,462,213 114,916,520 18,562,676 91,122,372 26,007,216 117,312,174 3,225,351 41,736,098 25,400,919 4,869,097 1,495,469 12,999,797 2,088,034 5,757,216 2,838,232 1,080,589 9,438,381 43,690,417 3365059323 79,911,348 346,799 2,687,626 94,149,564 16,309,870 77,296,059 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 3,008,996 995,097 7,737,531 43,527,082 4384255067 92,476,380 329,873 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 42,069,941 - - - - - - - - - - - - - - - -1---------------644,734 672,934 1,915,362 W~~~\~~a:~te~ :'~~~~=-- _____ lbs. Antimony, value _________________ $ Argal, or argoL ________________ lbs. do do ___________________ $ .Asbestos ____________ ____ ________ $ Automobiles and parts of, value ____ $ Bones, horns, &c.,and mfs. of.value_$ Books, maps, etchi ngs, &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 t h ose given here separately), 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 _____________________ $ Collodlon, 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, val u e _________ - _ - -- _ - -$ 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 _____________ $ -Oums, value ___ - __ - - _ - __ - - - - _ - _ - - $ Hair, unmanufactured, value _____ -$ Hats , bonnets, &c., and material for, value ------------------------$ Hides and skins, value ____________ $ Hops, value,--------------------~ Household and perso nal 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 ___ $ 'I ndigo, value __ - _ - - - _ - - - - - - - _ - _ - - $ Iron and steel, and manufactures of- 32,115,646 26,738,834 30,540,893 2,641,867 2,305,185 2,562,384 1,021,230 1,115,800 1,014,546 3,679,134 2,991,039 4,842,279 949,045 982,073 1,137,328 5,626,624 6,036,693 6,451,309 469,500 427,496 1,850,519 9,454,414 7,138,214 5,892,968 2,591,119 2,097,777 3,261,877 1.430,321 1,681,640 1,586,556 1,999,422 1,507,310 565,122 192,374,732 573,437,777 tl23763 604 712,628 1,973,472 3,669,926 5,866,154 5,586,706 5,704,012 78,379,634 600,819 3,519,980 1,715,078 1,227,858 3,498,480 5,901,842 14,850,328 79,112,129 1,142,181 29,378,598 6,538,597 3,042,190 13,622,802 24,462,663 39,428,687 7,057,080 8,296,328 4,249,006 4,063,982 14,172,241 19,930,988 68,376,608 10,190,137 6,917,828 44,902,321 1,733,874 9,809,028 5,507,974 6,152,110 5 ,995,599 12,403,012 29,769,974 4 9,312,392 31,110,683 21,086,579 5,262,190 3,021,272 7,465,319 1,489 ,718 12,009,390 3,750,570 79,485,524 12,424,860 9,032,574 46,022,347 2,018,143 13,427,969 4,360,721 6,395,233 4,970,641 12,292,770 35,406,083 54,467,572 37,354,742 15,918,149 6,570,123 2,470,178 7,826,719 1,103,081 12,533,493 2,770,658 73,237,033 82,997,014 758,068 775,078 4,245,451 3,995,564 1,680,100 1,846,289 1,981,467 1,689,869 5,123,862 4,184,541 4,883,675 5,635,001 14,257,250 13,376,562 67,688,106 78,231,902 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 3,038,996 -- 266,409,304 125,980,524 203,847,545 do value __________________ $ 45,171,994 23,664,938 41,534,028 Cloths, value __________________ $ 4,780,606 4,859,796 5,732,200 Carpets _________________ sq. yds. 1,042,378 686,784 1,068,010 do value __________________ $ 4,032,512 2,795,066 4,435,067 Dress goods ______________ sq. yds. 34,619,747 45,035,142 46,924,917 do value __________________ $ 6,761,536 9,217,804 9,240,225 Total wool manufactures , value . _$ 18,102,460 19,387,978 22,321,460 a Including machinery, but not Including Iron ore; also In.eluding the v a lues already stated separately. b Includes hair of the camel, goat, alpaca, &c. c Included under "all other manufactures of Iron and steel" prior to J u ly 1 1905. COURSE OF MERCHANDISE PRICES . To furnish an indication of the course of merchandise values, we give the following table. 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-1906 to 1910, inclusive. COMPARATIVE PRICES OF MERCHANDISE , IN NEW YORK. January 1 I 1860. 1879. I$ $ c. c. 1906. $ c. 1907. 1908. s $ c. c. 1909. 1910. c. c. $ BreadstuffsaFlour-No. 2, exLbbls. 4 30 3 20 4 ~5 3 90 4 50 3 00 4 15 Patents _______ __ bbs. 7 50 5 45 7 75 4 65 6 00 6 00 6 10 Rye, superfine ___ bbls. 4 00 3 10 4 40 4 00 5 40 4 60 4 50 Cornmeal,Br'ywlne _bbls. 3 90 2 85 2 75 3 15 3 05 3 65 3 45 bWheat-Whlt,e,No.l bu. 1 50 Nom'l Nom'l Nom'l 1 18 1 11 Nom'l R ed winter, No 2_bu . 1 30 108¾ 1 27 80 95 1/s 108¾ 1 08 West'n Spr'g,No.2 _bu. 98 89 81½ 120½ 120¾ 1 24¾ Rye, Northern ______ bu. --92 60 76 75 90 84 81½ Oats, No. 2, white ___ bu. 46½ 33 37 40½ 56-&7½ 50 ii5 5,403,044 4,852,548 6,820,259 Corn78,489,838 54,770,136 83,206,545 West. mixed, No.2_bu. 90 47 51 52½ 76 68 77 1,337,099 1,989,261 1,974,900 cCotton4,547,440 Middling Upland _____ Jb. 11 9 7-16 11.75 10 .75 11.40 9.30 16 .10 4,446,187 3,835,354 Low Middling Upland_lb. 111/s 9 1-16 11.37 10.25 10.40 8.30 15.50 5,037,671 4,777,459 4,344,282 goods89,969,472 62,421,770 77,510,728 Cotton Brown sheetlngs _____ yd . 8 8¾ 7½ 7¾ 1¼-1½ 6½-6¼ 6½-6~! 62,314,631 36,713,490 59,121,320 Print cloths, 64x64 ___ yd. 51/s 31/s 4 3¾ 3½ 4½ 3 5-16 1,463,589 2,050,135 2,453,847 Fish1,400,286 1,058,354 1,233,541 Dry cod (Georges) __ . qtl. 4 50 4 25 9 00 8 75 6.25- 75 6 .25-50 -No.l(Mass.)mackerel bbl. Nom'l Nom'l 30-32 - - 16 00 24 00 - --104,655 204,092 564,846 Hay-Shipping ___ -100 lbs -1- 00 45 80 85 80 62½-65 80-85c 3,509,086 6,201,808 Hemp-Manila ________ lb. 10 7¾ 8¾ 81/s Ingots, b ' ooms , &c _____________ lbs . 28,285,124 36,058,859 15,654,767 41,484,776 Hops, prime State ______ lb. 16 15 19 do 21 value __________________ $ 15½ 33 12½ 1,946,030 2,172,916 3,033,928 IronTotal value_a------------------$ 22,430,787 27,607,909 40,587,865 Scotch pig __________ ton 24 50 22 00 Nom'l 25 00 Nom'l Nom'l Ivory, animal and vegetable, value_$ 2,680 ,56 2 1,524,155 2,470,405 American pig, No. L_ton - --- 17 00 19 50 25 25 18 50 17 50 * .Jewelry and manufactures or gold and Lead-Doniestlc ___ lOO lbs. - - -4 00 6 05 6 20 3 70 417½ 4 70 silver, value ________ - _ - _ - ______ $ 1,738,120 1,672 ,2 75 1,779,527 Leather Lead, and manufactures of, value __ $ 4,670,612 4,473,148 4,364,890 Hemlock sole, llght ___ lb 30 27½ 28 25 27.50 Zl Leather and tanned skins, value ___ $ 5,313,137 4,852,409 8,071,285 Lime-Com. Rockland_bbl. 75 92 80 -- 32½ - - - --30- --26½ -23=30 Leather manuf .other than gloves, val$ 1,154,678 1,448,219 1,688,580 Molasses- N. Orleans __ gall. 53 37 38 Licorice root, value _______________ $ 1,628,894 1,864,436 1,140,541 Na val Stores.Lumber, value _______ ____________ $ 20,900,041 20,257,458 20,959,365 Spirits turpentlne ___ gall. 44½ 68 21½ 71 43½ Machinery, value ____ ____________ -$ 58½ 41½ 4,258,743 3,646,480 4,963,429 Common rosin __ • ___ bbl. 1 65 1 35 3 65 4 25 3 20 4 15 3 25 Malt liquors, value ______ ___ _ _____ $ 3,215,407 3,464,671 3,408,763 OilsManganese ore and oxide, value ____ $ 1,243,657 1,773,018 1,672,654 Crude whale __ • _____ gall . 52 Nom'l Nom'l Nom'l Nom'I Nom'l 38 Marble and stone, and manuf. of, vaL $ 1,581,815 1,585 ,152 Crude sperm _______ gall. 1 40 1,946,262 81 Nom'l Nom'I Nom'l Nom'l Nom'l .Matting, Including Chinese, value ___ $ 3,290,557 4,333,044 3,769,202 Linseed, Calcutta ___ gall. 57 63 62 70 69 70 80 Metal, metal compositions, and manuPetroleumfactures of, value _______________ $ 6,807,357 6,768,637 10,325,446 Refined In bbls _____ gall. ---7.60 8¼ 8.05 7½ 8¾ 8½ Musical Instruments, value ________ $ 1,243,856 1,400,213 1,498,724 ProvisionsOil cloth, value ____ __________ ___ _ $ 1.894,810 2,102,313 2,313,772 Pork, mess _______ __ bbl. 16 37½ 7 05 14 75 18 00 15 00 16 75 t Nickel ore and m atte, value _____ __ -$ 2,544,222 2,391.140 1,897,784 Beef, plain Western_bbl. 9 50 10 00 Nom'l 8 25 10 50 12 75 13 00 Oils, animal and vegetable, value ___ $ 20,403,512 18,292,393 17,068,777 Beet hams ____ ______ bbl. 14 50 17 00 22 00 Nom'l Nom'l 26 00 23 50 -Opium, Including prepared. value __ $ 2,794,579 2,487,910 3,068,126 H ams, pickled _______ lb. 6 12¼ 9¾ 9¾ 9 9 14 Paints and colors, value ___________ $ 1,689,090 1,738,257 2,013,481 Lard, Western _______ lb. 5.75 7.50 9.47½ 10½ 8¼ 9.90 12.90 Paintings, statuary, &c., value ____ $ 3,797,163 4,310,767 5,867,265 B utter, prime State ___ lb. 24 23 26 28 33 37 29½ Paper and manufactures of, value--$ 11,632,571 12,223,058 10,727,885 Cheese, fine tactory . __ lb. 11 14 8¾ 14 15¾ 14 17 Rice-Domestic. _______ lb. 4¼ 6¼ 4½ 4½ 5¾ 5½ 5¼-5½ 'Pagir sti;~-;~~:~:::::::::::::l_b_s$ 12~:m:m 15tm:m SaltAll other, value ________________ $ 2,075,975 1,959,984 3,244,938 LI verpool ground ___ sack 1 15 70 90 ---- Nom'l N om'I - - - Perfumeries and t oilet preps., value_$ 1,425,613 l, 120,396 1,250,855 Domestic fine_280-Jb.sack - --90 99 1.65 1.40 ----- -Pipes and smokers' articles, value __ $ 964,123 1,032,285 1,126,635 SugarPlants, trees, shrubs, &c., value ___ $ 1,942 ,906 2,003,973 1,841 , 206 Cuba, !air reflnlng ____ lb. 1¾ 3½ 3 9-16 61/s 3.8! 4.02 3.67 Platinum, value __________________ $ 1,766,168 1,645,844 3,266 ,961 Refined hards ________ lb. 5.15 4.8( 8¾ 4½ 4.50 4.85 Plumbago, value _________________ $ 1,463,717 1,207,016 1,626 , 666 Tallow ____ ___________ lb. - --10½ 4¾ 61/s 6½ 5.78 6½ Potash _______________________ lbs. 403,622,019 339,784,442 334,849 ,340 Wool-XX Ohio fleece_.lb. 40 35 38 34½ Nom'l Norn'! do value ____________________ $ 7.419,617 6,495,550 6,289,342 Precious stones, cut and uncut, unset, value _____________________ $ 29,373,070 16,714,137 42,468 ,022 *18 .75@19.25. f24.50 @24 .75. Provisions, all kinds, value--------$ 6,710,160 6,586,780 6,768,432 Rice and rice meaL _____________ lbs. 222,900,424 212,783,392 209,603,190 a FLOUR-"No. 2 Extra tn bbls." Is now the common shipping flour to Great do do value -------------$ 4,698,033 4,798,553 4,392,146 Britain, and Is about the same as the "Wheat Flour, St.au," quoted In 1860 ·sausage casings, value ____________ $ 2,258,648 2,182,036 1,288,922 and previous years-"Patents" are the highest ~ades and correspond with 'Seeds, value _____________________ $ 5,958,019 6,371,470 6,404,776 Extra Genesee of 1860 and previous years. 'Shells and manufactures of, value __ $ 2,017,591 1,280,477 1,629,387 Silk, raw _________ _____________ lbs. 23,333,750 15,424,041 16,722,207 b WHEAT-"Whtte No. 1" probably corresponds as nearly as any present grade do value ____________________ $ 78,830,568 63,665,534 70,229,518 with White Genesee ln old classlficatlon-"Red Wtnter No. 2" would probablr rank with "Red Western" of old classification. Silk, manufactures of, value _______ $ 30,718,582 32,067,874 38,003,040 Soda, nitrate of_ _______________ tons 353,487 The other grades mentioned for breadstuffs cover same as quoted In old 330,090 342,073 lists of prices In "Hunt's Merchants' Magazine." do do value ______________ $ 12,583,417 12,546,611 14,041,202 Spices, all kinds, value _ ___________ $ 5,348,606 3,5lH,537 5,113,000 c COTTON-On Oct. 1 1874 grades ot cotton as quoted were changed by the Spirits, distilled (Including product of National Cotton Exchange. According to the new classification every grade Unlted ~tates returned) , value ___ $ 7,676 ,825 6,560,606 6,886,60"1 was reduced, so that (for Illustration) Middling, according to new classification, was on that day quoted 1/s c. lower than Middling of the old classUlcatlon f!l Pladronvalu-e-:::::::::::::::~~! https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis "'I ,,. 19½1 lltm:m 3i½ FOREIGN EXCHANGE RECORD, PRICES FOR 1909. 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 1909 can be found in the "Chronicle" of Jan. 1, 1910, 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 1909. JANUARY. Day. 81ftfas4:1Y FEBRUARY. io/1!;: Tr~~¾i-s. MAR.CH. it~~ T,;{~~J:,s. 4 8555-8560 4 8755-8760 4 8795-88 4 8530-8540 4 8765-8770 4 8795-88 4 8560-8565 4 8760-8765 4 8795-88 l4 mgj~i~ j miJm j ~mJm l ~~ig:n~l mt~m j ~m:~m 85 -8510 4 8715-8720 4 8740-8750 4 8580-8590 4 8790-88 4 8825-8835 i1Y~t. Tr~~J:,s. 4 8525-8535 4 8765-8775 4 8795-8810 BiJJfufay s~tif.ay APRIL. SiJJ~i?ay .itrf;t ¥a~t~s MAY. Da . s~yuf.ay L~-4 8610-8615 2___ · 3 ___ 4 8620-8625 4 __ -4 8625-8630 5 ___ 4 8620-8630 6 __ :. 4 8625-8630 7 -- -4 8625-8635 8 ___ 4 8620-8625 j1Jz~~ 4 8740-8745 SUNDAY. 4 8755-8760 4 8760-8765 4 8755-8760 4 8750-8755 4 8750-8755 4 8750-8755 8 18:::4 8615-8620 4 11 __ _4 8630-8635 4 8765-8770 12 ___ 4 8630-8635 4 8775-8780 13 __ -4 8640-8650 4 8770-8780 14 ___ 4 8640-8650 4 8780-8785 15 ___ 4 8625-8630 4 8775-8785 16___ SUNDAY. 17 ___ 4 8640-8645 4 8780-8785 18 ___ 4 8640-8645 4 8775-8785 19 ___ 4 8635-8640 4 8775-8780 20 ___ 4 8640-8645 4 8770-8780 21 ___ 4 8635-8645 4 8770-8775 22 __ -4 8630-8640 4 8765-8775 SUNDAY. 23 __ _ 24 __ -4 8625-8630 4 8770-8775 25.--4 8625-8630 4 8775-8780 26 __ _4 8625-8630 4 8780-8785 27 __ -4 8630-8640 4 8780-8785 28 __ _4 8640-8650 4 8780-8785 29___ HOLIDAY. SUNDAY. 30___ HOLIDAY. 31___ Range . High 4 8640-8650 4 8780-8785 Low 4 8610-8615 4 8740-8745 Tr~~}~s. 4 8755-8765 4 4 4 4 4 4 8780-8785 8775-8780 8770-8775 8765-8775 8770-8780 8770-8775 4 4 4 4 8795-88 8790-8795 88 -8805 88 -8810 ¥1~£tJo 44 8775-8780 8790-8795 4 88 -8805 4 8805-8810 4 88 -8805 4 8795-88 4 8795-88 4 8790-8795 4 4 4 4 4 8790-8795 88 -8805 88 -8805 8805-8810 8805-8810 1Y.__4 2 __ -4 3 ___ 4 4 ___ 4 5___ 6___ 8495-8505 8515-8520 8505-8515 8505-8510 .i7flz1~ 4 8645-8655 4 8655-8665 4 8645-8655 4 8645-8650 SUNDAY. · HOLIDAY. i1£~~ Tr~~}:i.s . 4 8630-8635 4 8785-8790 4 8805-8815 4 4 4 4 8630-8635 8625-8630 8630-8640 86.!0-8630 4 8780-8795 4 8785-8795 4 8785-8790 4 8780-8785 SUNDAY. 4 86 -8610 4 8765-8770 4 8570-8580 4 8765-8770 4 4 4 4 4 4 8590-8595 8590-8595 86 -8605 86 -8615 8625-8635 8640-8650 4 4 4 4 4 4 8640-8650 8645-8650 8645-8650 8650-8660 8660-8665 8650-8660 4 8650-8655 4 8650-8655 4 8665-8670 8805-8815 8810-8820 8810-8815 88 -8810 4 8795-88 4 8795-88 9 5:~~10 mg:~m 4 8770-8780 4 8795-88 4 8775-8785 4 88 -8805 SUNDAY. 4 8775-8780 4 8795-88 4 8775-8785 4 88 -8805 4 8780-8790 4 8810-8815 4 8785-8790 4 8810-8815 4 8790-8795 4 8815-8820 4 8795-8810 4 8840-8850 SUNDAY. 4 8805-8810 4 8830-8835 4 8810-8815 4 8840-8850 4 8805-8810 4 8845-8850 4 8805-8815 4 8855-8865 4 88 -8810 4 8845-8850 4 88 -8810 4 8845-8850 SUNDAY. 4 8805-8810 4 8845-8850 4 8810-8815 4 8855-8860 4 8805-8810 4 8835-8840 mi:~~~g l : 4 8590-86 4 8585-86 4 4 4 4 l ~~ Range. 4 8805-8810 4 8755-8765 4 8665-8670 4 8810-8815 4 8855-8665 4 8570-8580 4 8765-8770 4 8795-88 Tr~:}~s. .i;ft~'. Trff:.f}!rs. 4 8420-8425 4 86 -8605 4 8625-8630 SEPTEMBER. Da . 8t1Jtifay JUNE. 8~¾if.ay OCTOBER. 4 4 4 4 8665-8675 8080-8690 8675-8685 8670-8680 Sil3Wif.ay 4 8410-8420 4 8595-86 SUNDAY. 4 8410-8420 4 8595-86 4 8390-84 4 8585-8590 4 8360-8370 4 8560-8565 4 8620-8630 4 8615-8625 4 8610-8620 4 8585-8595 t::1 tigg:m~ 1tm:~gzg : :g;g:~m l ~m=~m : ~gg~:mg l mi=l~6 9 ___ 4 8475-8485 4 8630-8635 4 8665-8670 4 8315-8325 4 8565-8570 4 8595-86 10 ___ 4 8490-85 11 ___ 4 8480-8490 12___ 13 __ -4 8470-8480 14 ___ 4 8470-8480 15 _ _4 8465-8475 rn:~A 8450-8465 17 ___ 4 8450-8460 18 ___ 4 8445-8455 19__ _ 20 ___ 4 8440-8450 4 8625-8630 4 8620-8625 SUNDAY . 4 8620-8630 4 8615-8625 4 8610-8615 4 8595-8605 4 8605-8610 4 8605-8615 SUNDAY. 4 8610-8615 4 8655-8660 4 8650-8655 4 8650-8660 4 8635-8645 4 8630-8635 4 8625-8630 4 8625-8630 4 8630-8640 4 8635-8645 SUNDAY. 4 8310-8320 4 8580-8585 HOLIDAY. 4 83 -8310 4 8595-8615 4 8285-8310 4 86 -8610 4 8285-8295 4 86 -8605 4 8295-8305 4 8625-863-5 SUNDAY. 4 83 -8310 4 8645-8655 4 8310-8320 4 8650-8660 4 8320-8330 4 8690-8695 4 8620-8630 . 4 8645-8650 4 8645-8655 4 8645-8650 4 8675-8685 4 8680-8690 4 8680-8690 4 8730-8740 i~-:J mti1!g 1 igitm8 1 igi&:igii l im:mg 1 mg:i~ig l i~9ti~~g 23: _ 8425-8440 4 8610-8615 4 86:{()-8635 4 8350-8360 4 8765-8775 4 8815-8825 _4 24 ___ 4 8430-8440 4 8605-8610 4 8630-8635 4 863 8635 6 4 842 8435 4 5021: __ 4 8420-8430 4 8605-8610 4 8625-8630 05 iz9s:ii 30 __ -4 8415-8425 4 8595-86 4 8620-8625 31 ·-· Rn11ge. 65 _ 4 8330 8340 4 8340-8350 im:im 4 8320-8330 4 8330-8340 Ji-:: s~it~ f~ l it::1 ~1i8:~gg : 1mtm& l 8 Wa~!:· jtgj;t_ 4 8660- 670 4 88 -8805 4 8830-8845 4 8665- 675 4 8805-8810 4 8835-8840 4 8660-8670 4 8805-8810 4 8835-8840 SUNDAY. HOLIDAY. 4 8660- 665 4 8790-88 4 8815-8820 4 8650-8660 4 8775-8785 4 8795-8805 4 8650-8660 4 8775-8780 4 8795-88 l mt8g1g 1SUNDAY. mg:mg 1mt~m 4 4 4 4 4 4 8635-8640 8570-8580 8580- 590 8575-8580 8590-86 8585- 590 4 4 4 4 86 610 8610-8620 86 -8610 86 -8615 4 86 -8610 4 8595- 605 4 4 4 4 4 4 8580-8590 8585-8590 8570-8580 8570-8585 8550- 560 8535-8540 • 4 8665-8675 4 8535-8540 Sifftis':111 4 8745-8750 ·4 8760-8770 4 8710-8720 4 8730-8735 4 8715-8720 ' 4 8735-8740 4 8710-8720 4 8735-8745 4 8725-8735 4 8750-8760 4 8740-8745 4 8770-8775 SUNDAY. 4 8735-8740 4 8765-8770 4 8740-8745 4 8770-8775 4 8735-8740 4 8765-8770 4 8740-8745 4 8770-8775 4 87 40-87 50 4 8770-877 5 4 8740-8745 4 8770-8775 SUNDAY. 4 8730-8735 4 8755-8760 4 8720-8730 4 87 45-87 55 4 8715-8720 4 8740-8745 4 8695-8715 4 8725-8735 4 8685-8690 4 8715-8720 4 8680-8685 4 8705-8710 Ranqe. 4 8805-8810 4 8835-8845 4 8680-8685 4 8705-8710 8325-8330 8315 325 8310-8325 8320-8325 HOLIDAY. 4 8715-8720 4 8705-8710 4 8710-8715 4 8720-8725 4 4 4 4 8765-8770 8755-8765 8760-8770 8785-8795 4 4 4 4 8785-8795 8790-8795 8790-8795 8805-8810 t¥fiR-tJo 4 8815-8825 4 8325- 335 4 8730-8735 4 8805-8815 4 8315-8325 4 4 4 4 8305- 315 8315- 325 8305-.8315 832~335 4 4 4 4 4 4 8325-8335 8335-8345 8340-8350 8340-8350 8350-8360 8350-8368 4 8715-8720 4 8720-8725 4 8720-8725 4 8730-8740 SUNDAY. 4 8725-8730 4 8725-8730 4 8720-8725 4 8725-8730 4 8730-8735 4 8745-8750 4 8790-8795 4 8775-8785 4 8780-8785 4 8775-8780 4 8785-8790 4 88 -8810 l mg:mg 4 8770-8780 4 8775-8780 4 84 4 84 0- 8790 4 8775-8785 4 8370-8380 4 8370-8380 4 8745-8755 4 8795-8805 4 8385-84 4 88 -8815 -8410 4 8'55-8760 4 8810-8820 -8410 4 8770-8775 4 8820-8825 Range. m&:mg 1mt~g 1mt:~~g 1:m::m 1:igg:~m ! ~m~~~~g :~~os:~m 1mtms 1~m::m r~~ 1 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 4 4 4 4 8535-8540 8540-8545 8520-85 lO 8515-8520 4 8525-85.35 4 8510-8525 4 4 4 4 4 4 85 -8510 8510-8515 85 -8510 8490-8510 85 -8510 85 -8510 4 4 4 4 4 4 85 -8510 8505-8515 8505-8515 8505-8520 8510-8520 8505-8510 4 8525-8535 4 8540-8550 4 8540-8550 4 8545-8550 4 8535-8545 4 8525-8530 4 8510-8520 4 85 -8510 4 8545-8550 4 8490-85l0 NOVEMBER. .i7Jz~~ Tr~:f}!rs. 4 8330-8335 4 8725-8730 4 8775-8780 4 4 4 4 stJJ¾zfaY Tr~~J:,s. !¥.JiR!~s 4 8790-88 ti1tfill~ 4 84 -8410 4 8750-8755 4 8805-8810 4 8390-84 4sfl5tl~o 4 8810-8815 s¥~£tJs 4 878 4 7 4 8720-8725 i?°=m& 4 8720-8725 4 8730-8740 _ JULY. Si}J'ftif.ay 4 4 4 4 stflfu"f1Y 4 4 4 4 4 4 8415-8425 8415-8425 8410-8420 8410-8420 8420-8430 8425-8435 8420-8430 8420-8425 8425-8435 8430-8440 4 8420-8430 4 8410-8420 4 8420-8430 4 8425-8435 4 8440-8450 4 8450-8460 : 4 4 4 mi:~iii 8440-8450 8450-8460 8440-8450 4 4 4 4 4 8450-8460 8430-8440 8415-8425 8390-84 8380-8390 4 8455-8465 4 ~1~0-~3Q0 r c~x sfl5SH15 __1:, 4sWJt1\~~ f 1 HOLIDAY 4 85i5-86 4 8740-8750 2:::4 8505-8515 4 8710-8720 4 8745-8750 4 8615-8625 4 8760-8770 8 4 8620 8625 L:4 8495-8510 4 4 8710-8715 5 __ -4 8485-85 4 8680-8685 4 8705-8710 4 8610-8620 4 8755-8765 5 __ -4 8510-8515 4 8690-8695 4 8720-8725 4 85 -8505 4 8705-8710 4 8745-8750 4 86 - 05 4 8810-8815 4 8840-8845 4 8620-8625 4 8780-8785 7 ___ 4 8490-8510 4 8690-87 4 8725-8730 SUNDAY. SUNDAY. 4 8625-8630 4 8775-8780 4 8720-8725 4 8740-8750 4 8495-85 4 87 -8705 4 8730-8735 4 8605-81110 4 8815-8820 4 8850-8865 4 8620-8625 4 8765-8775 8 __ -4 8490-85 9 __ -4 85 -8505 4 8725-8735 4 8750-8760 4 85 -8505 4 8710-8715 4 8735-8740 4 86 -8 10 4 8810-8815 4 8835-8840 4 8625-8650 4 8765-8775 10___ SUNDAY. 4 8490-8505 4 8705-8710 4 8730-8740 4 86 -8605 4 8805-8810 4 8830-8835 4 8625-8630 4 8770-8775 11 __ _4 85 -8505 4 8735-8740 4 8760-8765 4 8510-8520 4 8715-8720 4 8745-8750 4 8605-81110 4 8805-8815 4 8825-8835 SUNDAY. 12 ___ 4 8505-8510 4 8745-8750 4 8770-8775 HOLIDAY. 4 8610-8620 4 8805-8810 4 8835-8840 4 8625-8630 4 8765-8770 13 __ _4 8490-8495 4 8740-8745 4 8765-8770 4 8505-8510 4 8710-8715 4 8740-8745 4 86 -8505 4 8810-8815 4 8835-8845 4 8625-8635 4 8760-8765 14 ___ 4 85 -8510 4 8725-8745 4 8760-8775 SUNDAY. SUNDAY. 4 8630-8635 4 8765-8780 4 8720-8725 4 8615-8620 4 8815-8820 4 8845-8850 4 8625-8630 4 8760-8775 15 ___ 4 85 -8510 4 8735-8740 4 8770-8775 4 8490-8495 4 8695-87 15 ___ 4 8485-8490 4 8740-8745 4 8775-8780 4 8490-8495 4 8690-8695 4 8720-8725 4 8620-81125 4 8820-8825 4 8845-8850 4 8640-8650 4 8765-8775 17 ___ SUNDAY. 4 85 -8505 4 8690-8695 4 8715-8720 4 8610-8615 4 8820-8825 4 8850-8855 4 8630-8635 4 8770-8775 SUNDAY. 13 __ _4 85 -8505 4 8740-8745 4 8780-8785 4 85 -8510 4 8695-8705 4 8725-8730 4 8615-8625 4 8825-8835 4 8855-8870 19 ___ 4 8490-8495 4 8735-8740 4 8775-8785 4 85 -8510 4 8720-8730 4 8750-8760 4 8630-8640 4 8825-8835 4 8865-8875 4 8635-8640 4 8765-8770 20 ___ 2 8485-8490 4 8735-8740 4 8770-8775 4 8510-8515 4 8745-8750 4 8775-8780 4 8620-8625 4 8825-8830 4 8865-8870 4 8635-8640 4 8765-8775 21---4 8475-8485 4 8715-8725 4 8740-8755 SUNDAY. SUNDAY. 4 8630-8635 4 8760-8765 22 ___ 4 85 -8505 4 8720-8730 4 8755-8760 HOLIDAY. 4 8625-8630 4 8820-8830 4 8860-8865 4 8640-8650 4 8750-8760 23 ___ 4 8485-8490 4 8730-8735 4 8760-8765 4 8520-8525 4 8750-8760 4 8780-8785 4 8615-8620 4 8805-8810 4 8840-8845 4 8630-8640 4 8740-8750 24___ SUNDAY. 4 8515-8520 4 8740-8745 4 8775-8780 4 8610-8615 4 8795-8805 4 8830-8840 4 8620-8625 4 8730-8735 25 ___ 4 8485-8495 4 8730-8735 4 8755-8760 4 8520-8530 4 8740-8750 4 8785-88 4 8615-8625 4 8795-8810 4 8835-8850 SUNDAY. 26 __ _4 85 -8510 4 8725-8730 4 8760-8765 4 8540-8550 4 8745-8750 4 8785-8795 4 8640-8650 4 88 -8805 4 8840-8845 4 8610-8620 4 8735-8740 27- _ _4 8490-8495 4 8740-8745 4 8770-8775 4 8520-8525 4 8745-8750 4 8790-8795 4 8615-8620 4 8785-8790 4 8830-8835 4 86 -8610 4 8725-8730 28 ___ 4 85 -8510 4 8745-8750 4 8775-8785 SUNDAY. SUNDAY. 4 8610-8615 4 8730-8735 29 __ _4 8510-8520 4 8760-8770 4 8790-88 4 8610-8615 4 8765-8770 4 8795-88 4 8615-8625 4 8730-8740 30 ___ 4 8515-8520 4 8770-8775 4 8805-8810 4 8615-8620 4 8765-8770 4 8795-88 4 8615-8625 4 8740-8750 31--SUNDAY. 4 86 -8615 4 8745-8755 4 8775-8780 Range. Range. Range. Range. High 4 8515-8520 4 8770-8775 4 8805-8810 4 8540-8550 4 8765-8775 4 8795-8810 4 8640-8650 4 8825-8835 4 8865-8875 4 8640-8650 4 8785-8785 L-'-ow_4_8_4_7_5-_8_48_5_4_8_68_0_-8_6_8_5_4_8_7_0_5-_8_71_0_ _4_8_4_90_-_84_9_5_4_86_9_0_-8_6_95_4_8_7_15-_87_2_0_4_85_5_0_-85_55_4_8_7_45_-_87_5_5_4_87_7_5-_8_7_80_ _4_8_5_9_5-_8_6_ _ 4 _8_72_5-8730 4 4 8785-8790 ___ 2 4 88 8805 ::: 4 8785-8795 ___ 5 4 88 -8805 ___ 6 4 88 -8805 ___ 7 4 8790-88 --- 8 4 8790-88 --- 9 4 8790-8795 ___ 10 ___ ll 4 8790-8795 ___ 12" 4 8780-8785 ___ 13 4 8785-8790 ___ 14 4 8780-8785 ___ 15 4 8785-8795 ___ 16 4 8790-8795 ___ 17 ___ 18 4 8785-8790 ___ 19 4 8780-8785 ___ 20 4 8775-8780 ___ 21 4 8765-8775 ___ 2z4 8760-8770 ___ 23 4 8750-8755 ___ 24 ___ 254 8755-8760 ___ 26 4 8745-8750 ___ 27 4 8750-8755 ___ 28 4 8750-8760 ___ 29 4 8760-8770 ___ 3(} ___ 31 4 88 -8805 High 4 87 45-87 50 Low AUGUST, i1&~~ SUNDAY. 4 8675-8680 4 8680-8685 4 8660-8665 4 8655-8660 4 8660-8665 4 8655-8665 SUNDAY. 4 8660-8665 4 8650-8655 4 8650-8655 4 8645-8650 4 8645-8650 4 8645-8650 SUNDAY. 4 8650-8655 4 8655-8660 4 8660-8665 4 8660-8665 4 8660-8670 4 8665-8670 SUNDAY. 4 8680-8085 4 8685-8690 4 8690-8695 4 8680-8695 4 8675-8685 4 8675-8680 SUNDAY. 4 8660-8665 4 8645-8650 Range. 4 8690-8695 4 8645-8650 Trf::J:,.s. Day, ___ 1 4 87 -8705 ___ 2 4 8705-8710 _ _ _ 3 4 8685-8690 _ _ _ 4 4 8680-8690 ___ & 4 8680-8690 ___ 6 4 8680-8690 ___ 7 ___ 84 8675-8685 ___ 9 4 8675-8680 ___ 10, 4 8675-8685 ___ 11 4 8670-8680 ___ 12' 4 8675-8685 ___ 13 4 8675-8680 ___ 14 ___ 15, 4 8675-8685 ___ 164 8685-8690 ___ 17 4 8680-8685 ___ 18 4 8685-8690 ___ 19' 4 8685-8690 ___ 2(} 4 8690-8695 ___ 21 ___ 22 4 8710-8715 ___ 23 4 8715-8720 ___ 24 4 8715-8725 ___ 25. 4 8710-8725 ___ 26, 4 8705-8710 ___ 27 4 87 -8705 ___ 28 ___ 2g. 4 8680-8685 ___ 30 4 8670-8680 ___ 31 4 8715-8725 High 4 8670-8680 Low DECEMBER :i1t1ft~ 4 8770-8775 4 8770-8780 4 8765-8775 4 8770-8775 SUNDAY 4 8775-8780 4 8775-8785 4 8775-8780 4 8770-8775 4 8770-8775 4 8770-8775 SUNDAY 4 8775-8780 4 8785-8790 4 8795-88 4 8795-88 4 8790-88 4 88 -8810 SUNDAY T-r~~}~s. Day. 8820-8825 ___ 1 8820-8825 ___ Z8815-8825 ___ 3 8820-8825 __ _ 4 ___ & 4 8825-8835 ___ 64 8825-8835 ___ 7 4 8825-8830 ___ 8 4 8810-8820 ___ 94 8815-8820 ___ 10 4 8810-8815 ___ 11 ___ 12 4 8820-8825 ___ 13 4 8835-8840 ___ 14 4 8845-8855 ___ 15. 4 8855-8860 ___ 16 4 8860-8865 ___ 17 4 8850-8855 ___ 18 ___ l 4 4 4 4 :i~s=mi l4 ~~gtiig!::J~ 8830-8840 ___ 22 : 4 8770-8780 4 8745-8755 4 8725-8735 HOLIDAY SUNDAY 4 8735-8745 4 8725-8730 4 8705-8710 4 8675-8680 4 8665-8675 Range. 4 8810-8815 4 8111\!'i-~675 4 8805-8810 ___ 23 4 8790-88 ___ 24 ___ 25, ___ 264 88 -8810 ___ 27 4 8780-8785 ___ 284 8745-8755 ___ 29, 4 8720-8730 ___ 30 4 8705-8715 ___ 31 4 8860-8865 High 4 8705-8715 Low. UNITED STATES SECURITIES. COURSE OF DEBT AND PRICES. The following table shows the public debt of the United States from 1793 to 1909, 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 DEBT 1793 TO 1909. Amount. Amount. I Amount. Year. Amount. Year. Amount. y ..,. 1850 __ _ __ $63,452,773 1870 _____ $2,331,169,956 1890 _____ $890,784,371 1871____ 1851- ____ 68,304,796 2,246,994,068 1891_ ____ 851,912,751 1852 __ ___ 66,109,341 1872 _____ 2,149,780,530 1892 _____ 841,526,463' 1853 __ ___ 59,803,117 1873 _____ 2,105,462,060 1893 _____ 838,969,476 1854 __ __ _ 42,242,222 1874 _____ 2,104,149,153 1894 __ ___ 899,313,3801855 _____ 35,586,956 1875 _____ 2,090,041,170 1895 _____ a932 ,830 ,667 1855 __ ___ 10,965,953 1876 ____ _ 2,060,925,340 1896 _____ 955 ,297,254 1857 .• ___ 9,998,622 1877 _____ 2,019,275,431 1897_ ____ 986,656 ,086., 1858 _____ 37,900,192 1878 _____ 1,909,382,280 1898 _____ :z:1,052,085,492 1859 _____ 53,405,234 1879 _____ 1,906,414,905 1890 _____ 1,155,320,235.. 1860 ____ _ 59,964,402 1880 _____ 1,919,326,747 1900 _____ 1,107,711,257 1861- ____ 87,718,660 1881_ ____ 1,819,650,154 1901- ____ 1,044,739,120• 1862 _____ 505,312,752 1882 _____ 1,675,023,474 1002 _____ 969,457,241 181\3 ____ _ 1,111,350,737 1883 _____ 1,538,781,825 rnoa _____ 925,011,637 1864 __ __ _ 1,709,452,277 1884 _____ 1,4:18 ,5 t2 ,995 1904 _____ 967 ,2:H ,774 1865 _____ 2,674,815,8!>6 1885 _____ 1,375,352,443 1905 _____ 989,866,772 · 1866 __ ___ 2,636,036,163 1886 _____ 1,282,145,840 1906 _____ 964,435.687 1867 _____ 2,508,151,211 1887 _____ 1,175,168,675 1907 _____ 878,596,755 1868 __ ___ 2,480,853,413 1888 _____ 1,063,004,895 1908 _____ 938,132,409'1889 ___ __ 1909 _____ 975,039, 71>0 1,023,861,531 18119 . --- - 2,432,771,873 a We have 111creasect tile amount for this date $31,157,700 to allow for the foreign half of the Morgan-Belmont ioan negotiated abroad, which did not appear In t he Government debt statement for June 30 1895, though the money In payment for It had already been received and counted In the 'l'reasury cash. :z: We have enlarged the amount for 1898 by $25,000,000 to allow for receipts up to that date (June 30) on subscriptions to the $200,000,000 new Gove.rnment 3 per cents, such receipts having Increased Government cash by a corresponding sum. It Is proper to say that the augmentation In thenet debt at this period would have been much heavier than that recorded b y these figures ($1,052,085,492) except that during the flscal year the Government rene lved Sl\0,2! ·1 ,RR!'\ Nrnh from the fTnlon P11.clftc sa.111, onl:v $29,!l04.!l .'i:> o1 which went to redeem maturing Pacific Railroad bonds. Year. Year. Amount. Year. 1793 __ - ··- $80,352,634 1812 _____ $45,209,737 1831- ____ $39,123,191 1794 _____ 78,40 7,404 1813 ____ _ 55,962,827 1832 ___ __ 24,322,23!5 1795 _____ 80,747,587 1814 _____ 81,487,846 1833 _____ 7,001 ,698 1796 _____ 83,762,172 1815. ____ 90,803,660 1834 _____ 4,760,082 1797 .. ___ 82,064,479 1816 ____ _ 127,334,933 1835 _____ 37,513 1798 _____ 79,228,520 1817: ____ 123,491,Sl65 1836 _ ____ 336,9:'i7 1799 _____ 78,408,669 1818 ____ _ 103,466,633 1837 _____ 3,308,124 1800 _____ 82,976,294 1819 ----- 95,529,648 1838 _____ 10,434,221 1801_ ____ 83,038,050 1820. ____ 91,015,566 1839 _____ 3,573,3 4 3 1802 _____ 80,712,632 1821_ ____ 89,987,427 1840 _____ 5,250,875 1803 _____ 77,054,686 1822 . ---- 93,546,676 1841-_ ·-- 13,594,480 1804 _____ 86,427,120 1823. ____ 90,875,877 1842 _____ 20,601.226 1805 __ ___ 82,312,150 1824 . ____ 90,269,777 1843 _____ 32,742,922 1806 _____ 75 ,723,270 1825 _____ 83,788,432 1844 _____ 23,461,652 1807 _____ 69,218,390 1826 _____ 81,054,059 1845 _____ 15,02:'i,303 1808 _____ 65,196,,117 1827 _____ 73,987,357 1846 _____ 18,550,202 ____ 67,475,043 1847 _____ 38,826,534 1809----- 57,023,102 1828. 1810 _____ 53,173,217 182{1 _____ 58,421,413 1848 _____ 47,044,862 1830 _____ 48,565,406 1849 _____ 63,061,858 48,005,587 1811----- UNITED STATES DEBT STATEMENT DECEMBER 31 1909. 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 1909. 9 INTEREST-BEAf~~tDEBT DECA~o~!~ 0utstanding-- Title of Loan- Interest Payable. ~: ~~:i ~~%5ff8 :::::~·.:~. 0 4s, Loan ot 1925 ________ Q.-F. 2s, Pan. Canal Loan 1906.Q.-N. 2s, 'Pan. Canal Loa n 1908.Q.-F. Issued. $ R egistered. Coupon. S Total. S m:~gUf8 6!i:m:f88 2tm:~fg 6ltm:!gg 162,315,400 54,631,980 30,000,000 97,424,900 21,065,ooo 118,489,900 54,600,500 31 ,480 54,631,980 29,452,520 547,480 30,000,000 Aggregate lnt.-bearlng debt._l,091,990,190 864,316,520 49,000,970 913,317,490 Note.-Denomlnatlons of bonds are: Of $20, loan ot 1908, coupon and registered. Of $50, all Issues except 3s of 1908; ot $100, all Issues. Of $500, an Issues; of $1,000, all Issues. Of $5,000, all registered 2s, 3s and 4s; ot $10,000, all registered bonds. Of $50,000, registered 2s ot 1930. DEBT ON WHICH INTEREST HAS CEASED SINCE MATURITY. Nov. 30. Dec. 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 of 1891, matured Sept. 21891._________ 23,750 00 23,750 00 Loan ot 1904, matured Feb. 2 1904___ ____ __________ 18,750 00 18,750 00 Funded loan of 1907, matured July 21907 ___ ______ __ 1,377,150 00 1,364,750 00 Refunding certificates, matured July 11907 _________ 17,540 00 17,340 00 Old debt matured at various dates prior to Jan . 1 1861 and other Items of debt matured at various dates subsequent to Jan. 1 1861._______ _____ ____ _____ 909,135 26 909,135 26 Aggregate debt on which Interest has ceased since maturity ______________________ ____ __ __ _____ $2,378,325 26 $2,365,725 DEBT BEARING NO INTEREST. United States notes ______________ •• ___ •• _. ____ • ___ • ___ • ______ $346,681,016 Old demand notes _______ __________________________________ __ 53,282 National bank notes-Redemption account______________________ 26,943,473 Fractional currency, less $8,375,934 estimated as lost or destroyed._ 6,859,712 26 00 50 00 28 Aggregate debt bearing no lnterest_ __________________ ________ $380,537,483 78 RECAPITULATION. Classi/ication- Interestrbearlng debt ______ _ Debt Interest ceased ___ ____ _ Debt bearing no Interest. ___ _ Dec. 31 1909. Nov. 30 1909. Increase ( + ) or Decrease(-). 913,317,490 00 2,378,325 26 380,022,941 78 -512,600 00 +514,542 00 Total gross debt ________ __ sl,296,220,699 04 $1,295,718,757 04 Cash balance In Treasury•___ 234,048,865 69 231,935,124 90 +$501,942 00 +2,113,740 79 913,317,490 00 2,365,725 26 380,537,483 78 Total net debt ___________ $1,062,171,833 35 $1,063,783,632 14 -$1,611,798 79 • Including $150,000,~00 reserve fund, STOCK OF MONEY IN THE COUNTRY.-The following table shows the general stock of money in the country, as well as the holdings by the Treasury, and the amount in circulation, on the dates given. -Stock of Money Jan . 3 1910- Money in Circulatio11r-In United, Held in Jan. 3 Jan . 2 States. Treasury. d 1910. 1909. s Gold coin and bullion ___ .•1638,108,821 Gold certlftcates _a_______ _ _________ _ Standard silver dollars . ___ 564,334,719 Silver certlficates _a_____ __ __________ Subsidiary silver _______ __ 162,801,137 Treasury notes of 1890____ 3,942,000 United States notes _______ 346,681,016 National bank notes______ 71.0,354,253 $ 157,103,539 84,885,800 2,216,644 12,965,542 15,832,549 8,162 7,814,753 23,240,419 s 606,212,413 789,907,069 74,763,075 474,389,458 146,968,588 3,933,838 338,866,263 687,113,834 619,317 ,841 801,860,509 72,443,593 470,837,799 135,063 ,365 4,589,189 336,422,969 651,780,438 Total _____________ ____ 3,426,221,946 304,067,408 3,122,154,538 3,092,315,703 Population of t he United States Jan. 3 1910 estimated at 89,644,000; circulation per capita, $34 83 . • A revised estimate by the Director of the Mint ot the stock of goln coin was adopted tn the statement for Aug. 1 1907. There was a reduction of $135 ,000 ,000 . a For redemption of outstanding certificates an exact equivalent In amount of the appropriate k inds of money ts held In the Treasury, and Is not Included In the account of money held as assets of the Government. d This statement of money held In the Treasury as assets of the Government does not Include deprn~lts of public money In national bank deposltarles to the credit of the Treasurer of the United States, amounting to $35,324,066 85. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis TREASURY CASH AND DEMAND LIABILITIES.The cash holdings of the Government a~ the items stood Dec. 31 1909 are set out in detail in the following, theassets.and the liabilities being shown in separate columns. ASSETS. LIABILITIES. Trust Funa Holdings$ Trust Funa L1.abilit'iesS Gold coin _____________ 874,792,869 00 Gold certificates _______ 874,792,869 00 Sliver dollars __________ 487,355,000 00 Silver certlftcates ______ 487,355,000 oo, 3,942,000 00 Treasury notes of 1890._ 3,942,000 00 Sliver dollars ot 1890___ Total trust fund _____ l,366,089,869 00 General, Fund Holdings- Gold coin and bullion __ _ Gold certificates ______ _ S ilver certificates_._. __ Silver dollars _________ _ Rilver bullion _________ _ United States notes ___ _ TreMury notes of 1890 __ National bank notes ___ _ Fractional silver coin __ _ Fractional currency ___ _ Minor coin ____ _____ • __ Bonds and Interest paid_ 7,103,538 84,885,800 12,965,542 2,216,644 2,959,631 7,814,753 8,162 23,240,419 15,832,549 109 1,060,530 8,829 72 00 00 00 06 00 00 21 08 88 83 65 Total trust llabllltles.1,366,089,869 00, Gen . Funa Liabilities- National bank 5% fund_ Outstanding checks and drafts______________ Dtsburstng officers' balances___________ __ _ Post Office Department account __ • _•• _____ _ Miscellaneous Items_ •• _ 27,767,547 69 · 11,371,236 30 • 81,829,895 01 5,089,930 75 1,547,094 71· Total gen'lllabllltles. _ 127,605,704 46, Tot. In Sub-TreM'les_ 158,096,509 43 In Nat. Bank DeposltarlesCredlt Treasurer ot u. s_ 35,324,066 85 Credit U.S. dis. ottlcers. 12,602,810 26 Total In banks_______ 47,926,877 11 In Treas . of Phlllpplne IslandsCredit Treasurer ot U. s_ 2,462,587 95 CashBalanceandReserveCredlt U.S. dis. ottlcers_ 3,168,595 66 Total cMh and reserve._ 234,048,865 69.1 -----Made up ofTotal In Phlllpplnes__ 5,631,183 61 Available __ 84,048,865 69 and · Reserve Funa HoldingsReserve FundGold coin and bullion___ 150,000,000 00 Gold&bull.150,000,000 00 Grand totaL ________ l-,7-2-7-,7-4-4-,4-3_9_1_5_ Grana totaL ________ l,727,744,439 15 TREASURY CURRENCY HOLDINGS.-The following compilation, based on official Government statements, shows the currency holdings of the Treasury on the first of October, November and December, 1909, and also for the lstof Janu~ ary 1910. · TREASURY NET HOLDINGS. Oct. 1 '09. Nov. 1 '09. Dec. 1 ' 09.~ Holdings in Sub-TreasuriesS S $ Net gold coin and bulllon _______ 242,873,342 254,735,467 250,567,638 Net silver cotn and bullion ______ 14,975,568 12,113,630 12,393,467 Net United States TreMury notes 7,165 12,465 4,530 Net legal-tender notes__________ 4,278,924 4,501.054 4,459,267 Net national bank notes ________ 23,641,951 17,944,644 17,709,371 Net fractional sliver-------~--- 21,577,880 17,952,453 15,963,"589 Minor coin, &c________________ 1,976,977 1,534,522 1,249,293 Jan. 1 '10, $ 241,989,339 . 18,141,817· 8,162 7,814,753 23,240,419 15,832,549 1,069,470 • Total ca.sh In Sub-TreMurles •• 309,331.807 308,794,235 302,347,155d308,096,509 Less gold reserve tund __________ l50,000,000 150,000,000 150,000,000 150,000,000 Ca.sh bal. In Sub-Treasurles ___ l59,331,807 158,794,235 152,347,155 158,096,509 Ca.sh In national banks ________ 50,604,523 49,497,654 49,069,718 47,926,877 Ca.sh In Ph1llpplne Islands______ 4,800,898 6,107,046 5,863,024 5,631,184 Net Cash In banks, Sub-Treas_214,'l37,228 214,398,935 207,279.897 211,654.570, Deduct current llabllltles_a _____ l20,531,114 125,295,857 125,344,772 127,605,704 Available ca.sh balance___ __ 94,206,114 89,103,079 81,935,125 84,048,866- a Chiefly "disbursing officers' balances." d Includes $2,959,631 silver bullion.◄ and $1,069,470 minor coin, &c., not Included In statement "Stock.of Money." _..J UNITED STATES SECURITIES. (I}, 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 1909, 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 until September 1873; thence the period of recuperation till the resumption of gold payments on January 1 1879, and the subsequent funding of 't he maturing 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 old 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 Treasury 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 ~ot quite $25,000 ,000 of the bonds. In December 1908 $30,000 ,000 more of the P anama 2s were sold. . January . F ebruary u. s. March. April. May. June. July. August. Sept'ber. October. \ Nov'ber. Dec'ber • GOVER.NMENT ·-SECUR.ITIES. Law High Low High Law High Law High Law High Low High Law High Law High Law High Law High •Law High Law High 1860. u. s. 6s of 1868, COUP- - - - 10612 107 10612 10714 10612 10714 108 10814 10838 10912 108 108 108 109 109 9918 100 9978 10012 10012 10214 102 10238 10258 103 10012 10034 101 100 9914 10012 10038 10012 10034 10134 103 10314 103 10334 10334 10412 10178 102 102 5s of 1865 , COUP---- --- 98 5s of 1874, COUP- - - - - - - 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 8258 79 98 9312 8812 83 83 10112 102 102 103 10412 10214 97 97 95 9134 9112 93 9112 9712 9938 9434 10312 10538 10012 102 10434 95 9234 9278 9734 10414 1861. u. s. 6s of 1868, COUP- - - 6s of 1881, COUP ------ 5s of 1865, COUP-- ----"s of 1871, COUP-- - ---5s of 1874, COUP- ------ 1J. s. 98 - --9078 91 92 100 94 100 95 ---- 93 14 9314 91 92 93 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 7514 95 89 86 80 79 88 83 85 12 7518 75 90 85 8634 79 7812 87 8518 86 7712 76 90 9038 89 80 82 8712 8714 85 - --7814 90 88 8938 89 14 86 87 ---- 7912 7912 81 92 9312 8712 8212 83 90 9138 8734 81 81 90 9114 8714 8112 8118 90 9534 89 85 86 92 9518 89 86 86 100 10212 95 91 913g 9958 10478 103 102 96 9212 91 9812 103 10318 10434 97 93 94 9934 103 10634 11034 10834 11014 125 9614 10014 100 100 10178 10212 98 10214 99 9912 9818 99 10512 i0858 10534 i075g 106 108 106 10118 10812 124 98 1013 98 10612 10612 110 127 100 12 10214 9812 10678 10714 114 102 1067s 10458 10934 10612 109 10634 10112 109 10612 113 105 11138 99 112 95 10412 10612 9212 104 9412 10634 10812 9612 10834 9512 10612 10012 94 107 95 113 10714 99 14 124 98 1125g 10618 9812 11612 96 118 110 10212 12238 1862. 6s of 1868, COUP- - - 6s of 1881, COUP- - - - - - 5s of 1865, COUP- - - - - - ps of 1871, COUP - - - - - - 5s of 1874, COUP------6s, certificates - _______ 7 3-19 notes ---------- 9212 9238 90 14 88 85 97 9914 95 94 38 98 88 88 97 100 9714 102 10312 94 97 9734 10512 10512 9212 98 9212 9312 97 93 92 9612 96 --- - ---- 93 951g 8658 90 89 14 96 963g 99 99 lO0lg 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 9818 94 88 34 85 98 14 10218 9912 10134 94 90 91 9978 10512 10014 9978 94 9814 --- - ---- ---- ---- 9634 100 103 10134 10512 10434 10212 103 10212 10412 10238 10512 9978 9814 10018 10012 10718 107 10434 10612 10718 ---- ---- 104 9514 9814 97 9978 102 101 98 9978 98 10412 106 106 104 107 10634 110 10812 100 10114 9918 10118 10712 104 10412 97 9812 9714 105 10512 107 105 100 10118 9912 107 10712 10458 105 9612 100 9914 10534 10512 10118 106 107 105 101 10138 99 78 10714 10714 97 10134 9958 10738 10612 85 8712 85 7912 78 90 9134 8612 80 805g ---- ---9712 98 90 8812 8634 79 7812 ---98 92 93 90 80 85 -- -995& 9612 99 94 89 88 9814 10234 1863. s. 6s of 1881, COUP ---5s of 1865, COUP- -----5sof1874,COUP------,6s, gold certificates---6s , current certificates 7 3-10s, A. & o _______ '13 10s, F. & A------- lJ, 9134 --- 86 9434 9334 10212 99 8512 9712 90 9714 93 78 99 99 ---- 96 10834 106 98 102 99 78 10712 109 10712 106 9834 10014 97 10312 107 ---- ---- ---- ---- 117 97 101 9914 10612 105 1864. u.5·s.20s, 6s of 1881, COUP---coupon _________ 104 107 10634 11112 11114 1131s 113 10112 10478 10334 107 107 11012 105 118 114 113 115 111 10512 10714 101 10-40s , coupon- - - - - - - - ---- ---- ---- ---- ---- ---- --- - ---- --- - ---- --- - ---- --- - ---- 103 10312 95 7 3-l0t:, A. & Q _______ 10638 10758 10734 111 111 113 10814 115 10912 112 103 110 10214 1071 2 107 112 107 9614 9334 9514 93 1-year certificates- - - - _ 9734 981s 971g 9912 9918 99 78 9734 991g 98111 9812 9234 9838 93 977g 1865. JJ, S. 6s of 1881, coup ____ 5-20s, COUPOn --·------.5·20s, new, coup ______ -10-40s, coupon_ - - - - - .. 7 3-10 notes - - _ - _- _ - _ 1-year certificates- - - - - 5-20s of 1862- -------5-20s of 1864- ________ 5-20s of 1865 - - - - - - - - 10-40 s - -------------7 3· 10 notes, 1st -----'1 3-10 notes, 2d -----'1 3-10 notes, 3d ------ 10812 10214 10212 9414 9912 99 11034 107 106 975g 9918 9912 10834 102 103 9434 9912 9958 11012 10414 104 9734 997g 997g 10612 10378 10358 96 58 9912 975s 10834 106 10538 98 100 9914 106 10512 104 93 9814 9712 10714 1067g 105 9818 9958 9834 10114 10578 105 937g 98 9812 10818 1081s 10634 9412 9958 99 1063g 10134 101 9212 97 9734 10814 10514 103 941 8 9914 995g 10514 9914 9878 8934 9558 9614 10658 103 10114 9234 99 977s 1063g 100 99 9038 9614 9712 10814 105 18 10438 1041 8 10418 9238 10014 10012 10014 10458 10314 10334 104 9112 100 9978 9918 l0Sl 2 10638 10578 106 9612 102 102 102 107 1003g 10138 10114 94 10012 101 10034 10912 10214 1021s 1023s 9612 1025g 1025g 10234 10912 10112 102 10218 9534 102 102 102 1107g 10438 103¾ 10312 9714 10314 10338 10338 10678 10414 10334 10312 97 18 103 103 103 110 1087g 106 10614 99 10412 10412 10412 10912 10814 10512 106 99 104 104 104 11314 11334 110 109 34 103 14 10758 10634 1065g 11034 1077g 108 10734 9712 10512 10518 105 112 11212 10912 10958 10014 10712 10638 10612 11112 11138 1095g 109 991s 106 10558 10512 11312 11514 111 1113g 10018 107 10614 10614 112 10712 10534 10534 9912 105 104 104 11434 1107g 10734 10938 10034 10818 10618 10734 10934 10518 10414 1041g 99 104 1037g 104 11314 10818 107 10714 10034 10534 10534 10534 1101 8 111 108 10834 10738 10878 11038 10758 10118 10718 11014 11114 1091 8 10958 10112 11012 107 10518 10558 10712 112 1097g 106 108 1083g 1117s 1095s 10534 10612 10812 11314 11078 10758 10734 11012 109 1105g 10112 10758 10612 ----7 ---- ---- 107 99 8 9912 10012 10012 11034 11214 10978 10978 10834 10858 10234 11014 1115s 109 10912 10734 10778 1021g 11218 11034 11478 11014 11058 10878 11118 10938 1087g 10712 10878 1075g 10314 9912 11214 11514 11014 11112 109 109 997g 11012 11112 10814 10838 1063s 10614 9958 1123g 11314 1095g 11014 10758 108 1011s 112 1077g 105 10578 10738 10712 10038 11314 1085g 10558 10612 108 108 10238 11!38 107 10412 10434 10712 10712 1005g 11218 1083g 106 1057s 1085g 109 116 11178 10934 1097g 11178 11218 11238 110 110 10234 119 98 10912 11112 l0312 11118 1087g 112 10434 11134 108 111 10034 11oa8 10018 10218 8914 10234 115 11612 114 11412 9778 9812 9612 9858 10334 10234 10112 10112 92 7s 98 14 9734 9734 1045g 105 10214 10218 9334 99 38 99 38 99 10334 1023g 102 1017s 93 14 991g 98 78 99 10412 10338 1033g 10312 9478 9934 9958 9912 10414 103 10218 103 90 9912 9914 99 10612 10614 1051g 105 10338 1083g 108 106 10634 10458 10712 10734 10534 10534 10438 11012 11134 10812 10918 10678 10838 1087g 107111 10718 10612 1866. u. s. 6s of 1881 , COUP ---- 105 11038 1053g 10914 105 1,1109 14 9112 9738 ---- ---9858 9912 10912 1063g 10612 10012 114 9678 10518 10218 95 987g 9853 1867. u. s. 6s of 1881, COUP ---- 5-20s of '62, COUP-- ---5-20s of '64, COUP - - ____ 5-20s, '65, c., 1'\. & N-5-20s, '65, c •• J. & J ___ 5-20s of '67, COUP- - - - __ 10-40s, COUPOn--- -- --- ---- ---- ---- ---- ---- -- -- ---- ---- ---9914 100 9934 10134 9712 98 14 9718 99 99 104 1868. u. s. 6s of 1881, COUP---- 5-20s, 1862, COUP-----5-20 s,1864,coup ______ 5-20s, 1865, M. & N- - __ 5-20s, 1865, J. & J ___ __ 5-20s,1867,coup ______ 5-20s,1868,coup ______ 10-40s, COUP---------- 11034 110 10738 10812 10614 1067g ---- ---- ---1017s 10412 10414 10838 10778 10514 106 10412 10458 112 11178 10958 1101g 10814 10838 10534 10714 10678 10658 10734 1075g 11118 109 111 1085g 10912 109 10858 11os8 10934 11358 11112 11238 i1014 10914 10714 10758 10614 10614 ---- ---1053g 10014 1117s 11034 10838 109 10734 10712 1107s 10918 10758 10778 1063g 10634 11312 11212 11018 lllls 109 10912 113 108 10658 1065g 10878 10914 ---- ---- ---- --- 10138 10012 103 103 1161 2 11134 1095g 110 1123g 1125 -- -- 10934 1057g 10534 11818 11378 11114 11134 11414 11438 11018 10738 11234 11234 110 11034 108 1081g 10318 1065g 11558 11458 111s8 11234 10912 1095g 10958 1085g 11318 11234 108~8 110 10738 10612 107 108 11614 115 11114 11212 10914 1093g 10938 10958 11312 11212 10914 10934 1077s 10734 10814 10412 11412 11514 11014 1115g 10914 10914 10912 1053g 113 11214 10912 109 78 10758 10758 10318 10414 11614 115 11234 11278 11118 112 1121 8 10658 11!38 10558 10434 10434 10612 10714 10758 103 11512 11358 10834 10878 11018 11114 111 10634 11418 10978 10638 10118 10934 10934 110 105 115 11158 1075s 10838 11078 11114 11131, 10578 11014 11214 1131 8 11314 11618 11514 11812 11412 1163g 10614 114 113511 11334 118 11512 120 11612 11114 105 11358 11218 1125g 11578 11358 11734 11512 1153g 10818 11612 11658 11612 11938 11734 122 118 11834 110 12014 12014 12014 11912 11712 1235g 12218 12318 10912 12014 12018 120 119 1175g 12234 11712 122a8 10112 116 1153g 1161g 1181g 1171g 12114 11718 11634 11458 122 12212 12214 12334 12312 12518 12218 12334 11212 12012 11938 11918 1205g 1201g 12238 1225g 12134 11612 12234 12218 12258 1241g 124 12514 125 125 10814 11214 117 12034 1167g 12112 11634 12138 11814 12212 11812 12214 11914 12314 119 12314 119 123 1073s 11614 1157s 11578 117 117 11914 11812 119 10938 118111 11818 1183s 120 11912 121 120 12014 10612 11334 11334 11312 111 11034 1123g 11514 1153g 108 10638 11614 113 11614 11314 1161s 113 114 11034 11338 11012 116 11178 11934 11214 11914 1157g 11018 11614 11612 11618 1141g 11312 116 11612 12058 11238 11134 10912 11014 10818 1083g 1869. lJ, S. 10-40s, COUP------- 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 10814 10878 10858 10838 11012 10914 113 11112 11218 1051g 11234 11212 11212 11478 11334 11738 11478 11538 10712 11534 11534 11578 11412 11312 11712 11812 118 1073g 1187g 11914 119 1177s 11634 1215 11612 121 UNITED STATES SECURITIES. January. February. u. s. 1 March. April. May. June. July. · 63 Au(lust. Sept'ber. October. , Nov'ber. D ec'ber. OOVER.NMENT SECUR.ITIES, Low Hioh Low Hi(Jh Low Hi(Jh Low Hi(Jh Low Hi(Jh Low Hi(Jh Low Hi(Jh Low Hi(lh Low Hi(lh Low Hi(lh Low Hi(Jh Low Hi(Jn 1870. u. s. 6s of 1881, COUP---- 1155g 11312 113 1127g 1115g 1117s 11134 10934 1091g 11812 11612 116 1161g 11434 1147s 1145g 1131g 11112 1157g 114 11314 11312 1117s 1121g 113 llllg 11114 11814 1155g 11514 1151g 1141s 11414 1143g 114 1117s 11334 10912 1083s 1083g 1O71g 108 10812 10434 11058 11612 11414 1133s 1131g 11134 1121g 1123s 10834 1131s 1137s 11014 10914 1093g 10734 10812 1087g 1O85g 11114 1167s 11514 11414 1145g 1131g 1135g 11312 1O85g 11234 116 llllg 11O5g 11O5g 11234 11314 11314 1O73g 11212 1175g 11212 1117g 112 11414 11434 115 1O85g 1127g 1173s 111 11034 11034 1127g 1127g 113 1075g 113 11812 11212 11134 11134 11414 1143g 1143g 10834 11434 U23g 10834 10834 10834 1073g 1O75g 108 1063g 11014 11514 1121g 112 112 llllg llllg llllg 1087g 114 1131g 1101 8 1097g 10834 1085g 10834 109 1067g 11034 1145g 11218 11112 1117s 11014 11O3g 11012 11034 11214 11334 11212 lllls 11112 110 llQlg 11014 1057g 111 1145g 11412 112 1123g 11034 11O7g 11O7g 107 112 11312 1117s 11114 11O5g 11O1g 11014 11012 10614 111 1141g 113 11134 11214 11012 11Q5g 11O7g 1067g 1113s 1131g 10712 107 1067g 109 1Q914 10912 10614 11O7g 1135g 113 1091g 10714 1077g 10634 10814110634 11014 1O91s l1Ql4) 1U918 11012 10953 107 10614 11112 10934 1135& 108 10734 1075g, 11oas 11Q3g 111 1O67g 1107s- 11014 1O85g 1077s 108 107 10714 1077g 10634 110 11314 11012 1097s 10914 1085g 1087g 10914 1O95g 11112 113 11O3g 110 110 109 109 109 34 10912 11114 11434 11234 1117s 11214 111 lllls 11134 1117s 1133g 1145g 1117s 11112 11134 11012 11012 11O7g 108 1135g 1161g 113 1123g 1123g lllls 11114 11134 10934 1'153g 11614 1121g 11214 11212 11114 1113g 1115g 10812 1151g 11714 114 114 114 113 113 113 10912 11534 117 11034 11O7g 11O7g 113 11234 113 109 11512 1173g 11134 11134 11134 114 114 1141g 110 1157g 11714 112 11 17s 1117s 1137g 11318 114 1093g 11514 1181g 1133g 113 1131s 1147g 11538 1151g 11034 1157g 1147g 11334 11312 113 14 11214 1123g 1127g 111 113 11614 11514 11434 11414 1127g 11314 1133g 113 14 1151g 116 1137s 1137g 114 11212 113 11314 110 114 119 11434 11414 11412 1135g 1135g 11412 111 11634 118 1145g 11434 11434 1135g 11334 11414 11112 11412 1193g 1155g 1155g 1157g 1145g 11434 1145g 11134 11614 11514 11334 11318 11312 112 112 112 107 11012 11814 1157g 1157g 116 11434 1147g 115 111 34 11412 11612 111 11O7g 11112 113 1135g 1135g 1091g 1111 2 11734 11134 11134 1123g 11414 115 115 110 1133g 11714 10914 10934 11012 1143s 114°s 1O91g 1131g 118 111 111 1113,i, 115 115?s 116 1O97g_ 11514. 10~12 1141g 11412 10934 10912 11034 1097g 1113g 11134 109 10912 11'434 llQlg 11434 11534 11O5g 11034 1123g 11134 113 11314 11012 11O5g 11534 10734 114 11414 11O1g no 11O5s 110 11114 11114 1O63g 10934 11334 1087g 1147g 1155g 11114 1113g 1117s 11O5g 112 1123g 10712 11078 1147g 10834 11414 11514 111 111 1121g 11018 1113g 112 10714 10734 114 110 11434 11534 11214 1123g 1127g 11112 113 1131g 108 1083g 11512 1097g 11434 11512 1123g 11212 1125g 11112 11278 113 108 10814 1151g 1127g 117 1181g 11534 11534 11612 11434 1157g 116 11O5g 11O7g 11634 11114 1161g 118 1121g 1121g 1127s 11434 1151:i 11534 110 11O3g 11614 113 11714 11934 114 1137g 115 11614 1173g 1171g 1113g 11214 1173g 112?8 11412 1195g 114 114 11434 11 614 11738 11118 11O5g 11112 1143g 1133g 115 1205g 115 115 116 11712 11812 11734 11134 1125g 115 11312 11512 117 1145g 1145g 11518 11334 1151g 1147g 1113s 11214 11438 11334 116 1181g 11534 11534 116:38 115 116 116 llFs 11314 115 11214 114 11614 1141g 114 11458 1131g 11334 11314 10834 11112 11212 1127g 11614 11814 1183g 11612 1167g 11512 11618 11534 1095g 1135g 11414 10934 1133g 1147g 113 11314 11312 112 11214 11234 10734 1O75s 11134 11134 11412 11614 1145g 11412 11434 11334 11414 114 109 1081 8 11234 111 11414 1155g 11514 1145g 1153g 11358 1137g 114 10778 10734 111 1113s 11514 117 1161g 116 1163g 115 11514 115 10858 1085g 114 110 11412 1161g 11112 1113g 1121g 114 11414 11414 10734 1073-t 11314 11012 1161g 1171g 113 11314 11314 11534 11618 11534 10814 10812 11412 111 11234 1171g 11214 1123g 11212 115 1157g 11534 10912 1091g 11~ llllz 1145g 118 1133g 11312 11338; 1165g 1171211634, 110 1097g 1133g, 11214 1145g 11412 1125g 11314 1135g 11234 1133g 1133g 1O95g 1O97g 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 1173g 11834 1157g 1155g 1161g 1145g 11634 1165g IJ.212 1151g 11514 113 11614 11814 1155g 11512 1163g 1143g 116 11618 11012 11O5g 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 1197s 11734 112 1137s 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 1143g 11512 1221g 11578 11614 1165g 119 12O3s 120 11214 11 27g 113 14 11534 117 1231g 1111s 11714 1191g 12034 12Fs 12O7g 11312 115 11412 1143g 1167s 11914 11612 11612 118 116 11714 11712 11334 1143g 11414 1157g 1185s 12O1g 11714 11734 11912 118 1191g 11834 1151g 1153g 1147g 11414 1173g 1191g 117 117 11834 1165g 1185g 118 1121g 11512 11312 11434 11814 12012 11712 1175g 1193g 11734 1195g 119 11334 1161g 1143g 11112 112 11514 1133g 11414 110 11134 11334 113 112 106 10814 1147g 117 1197g 1137g 11714 11834 1167s 11914 1187g 114 11434 1135p 10634 109 10912 1153-t 11112 1157g 10512 109 1061s 110 10712 11114 10934 11334 110 11514 110 115 10312 10914 105 10934 10812 '1115g 10614 11034 11214 10512 10612 1073g 10914 11012 110 10512 1051g 108 1O91g 1147g 11512 10914 111 111 11318 1147g 115 10814 10812 11O5s 10914 11114 1l6l2 11O7g 1115g 11112 11412 11514 11612 109 10812 10812 11314 1161 z121 116 1171411714. 11934 120 11834 1121,i; 11312 1143g, U. S fund. 5s of 1881---- 111 11334 6s of 1881, reg ___ ____ _ 1157g 1175g 6s of 1881, COUP--- --- - 117 1183g 5-20s,1862,coup ______ 11234 1147g 5.20s, 1864, COUP------ 114 1165g 5•20s, 1865, COUP - ----- 115 1177g 5.20s, 1865, new, coup_ 11412 11634 5•20s, 1867, COUP- - - - - - 115 118 5.20s,1868,coup ______ 10-40s, reg--- -------- -m14m 10-40s, COUP ---------- 113 11414 6s, currency ___ - _ - - - - - 114 11514 11134 11734 11812 1155g 1165g 1163g 11614 11734 1175g 11O3g 114 11514 11434 12014 121 1181g 12012 12114 1195g 12O3g 12014 1135g 1163g 1167g 11414 11812 1193g 11612 118 1191g 118 11834 11812 11214 11234 1157g 1151g 11934 121 11814 120 12034 11912 1203g 12O1s 1151g 1153g 117 11538 11912 12034 11734 11934 12O5g 119 11934 11934 1145g 1141s 11634 117 12O1g 122 11834 12034 12134 12014 12O7g 12012 li5 11512 11714 115 11958 120 115 117 1177g 11914 12014 1197g 1147s 11434 11G 12 11512 12038 122 11550 117 14 1183g 12014 12034 12012 11514 1153g 117 14 113 11618 12118 11338 11614 11712 11912 1197g 120 11312 1131g 11458 1153g 11712 122 11538 11714 11814 12O7s 1213g 12114 1147g 11434 11534 11212 11538 1165g lill2 11534 11634 11512 11614 116 11218 11212 1155g 11312 1173g 119 114 11612 11734 11634 11718 11814 11312 114 1173~ 112 11714 11814 11134 11534 11634 116 1173g 11712 1097g 11312 11712 1125g 1175g 1185g 11212 116 11714 1165g 1177g 1185g 1107g 11412 11734 112 11678 11734 1121g 1151g 1157g 11514 11634 11612 11012 11114 11712 1125g 1177g 1185g 11234 1157g 1167g 11634 11734 1177g 111 llFs 1175g 11214 11714 118 11234 1153g 11638 11534 117 11714 111 llll2 1173g 11112 118 1185g 11034 113 11414 11612 11734 1177g llFs llFs 1177g 113 11914 1HJ7s 11234 1143-t 1163g 119 120 11934 1133g 1141g 119 1123g 1155s 11912 11214 11414 11614 11814 1193g 1197g 1125s 1133-t 11 614 1137g. 11858 1221g, 1143g, 116 1183g, 121 122 12034, 1151s. 11514, 118 11434 11834 11934 11534 11534 1197g 12O5g 11634 11412 1187g 11934 1163s 11712 11912 1183s 11914 1193g 11334 11334 1185g 11512 120 1213s 11112 1181g 12O5g 11934 12012 12012 11412 1153g 11912 11434 120 121 1181g 11812 1211s 1191s 1197g 11934 1137g 11512 1191g 111'12 122 1233g 11834 121 1217s 12218 1233g 12212 1161g 11714 1247g 1155g 1215g 1231g 11614 1177g 1195g 12158 123 123 1153.t 117 1231s 117 1227g 1245g 1171g 1181g 12O1g 12218 12414 124 117 118 12434 1171g 12014 1251g 1177g 11814 12134 1231 8 1243s 124 1175g L 8l4 122 119 1211s 12614 11814 11914 12234 1241 8 12512 12512 11812 11912 1225g 11434 119 120 11534 116 1171g 118 11912 11612 11634 122 1187g 121 123 1161g 1187g 1221 8 12012 1221g 12112 1177g 11914 123 11512 1171g 1167g 11814 1165g 11814 11514 117 14 11934 121 12034 12112 12O5g 12112 12O1s· 12212 12034 122 122 12334 12214 1237g 12218 124 ---- ---- ---- ---- ---- -- -- -- -- ---11534 117 1167s 1193s 11834 11912 1141g 11412 1183s 11934 11734 11914 1187s 12014 11534 11612 1181g 1193g 1171ig 1191 2 11812 1193g 11834 12O3g 120 12034 1197g 121 11912 12114 12012 12234 12O1g 12112 120 12112 12012 12112 12O7g 1227g 11434 1151 2 1151s 117 11512 11634 1151 2 117 11734 11934 11634 118 1167g 11734 1111s 11112 12214 123 1231g 124 12312 12412 12312 12514 1213s 12212 1181s 1187g 1211 8 123 11734 11812 11814 - --- ---- ---- ---125 125 128 12614 1231s 12314 11834 1195g 1217s 12334 1185g 11914 119 12034 12134 11734 11812 12012 12214 117 118 11734 ---- ---1271g 1261s 122 1227g 11812 1193g 12134 12234 1181g 119 119 1213g 1223g 11412 11834 12034 12234 11712 1183g 117 1223g 12234 1151g 11914 1213g 123 118 11834 11712 119 1227g 11514 11914 1213g 1233g 11712 1r83g 1167g 12O3s 1241g 1165g 121 12314 12414 1181g 1187s 11734 ---- ---- ---- ---- ---127 12634 12712 1245g 12634 1193g 11934 11534 111a8 1193g 121 1177g 1183s 1175s 120 12034 11634 1181 8 12O1g 12134 1185g 119 1185s 11734 118 11212 113 1167g 121 11512 11834 11534 5-20s, 1862, COUP-----5-20s, 1864, COUP- - - - - 5-,20s 1865, COUP - ----5--20s, 1865, new coup __ b-20s,1867,coup ______ 5-2os. 1868, COUP-----10-40s, COUP---------6s, currency - - - - -- - - - - 1871. u. s. 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, COUP---------6s, currency_ - - - - - - - - - usi4 1872. U. S. fund. 5s of 1881- _ - 6s 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 ___________ ,;_0-40s, COUP---------6s, currency __________ of 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 ______ ::~gt fm.nio~i,~~~~== 6•20s, 1868, COUP-- - --10-40s, reg_ - - - - - - - - - 10-40s, COl."P------ ---6s, currency - - - - - - - - - - 1874. 1127g 118 1185g 11334 1163g 11118 1165g 1177g 1177g 112 1123g 1181g 1875. U.S.fund. 5s of 1881, coup 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, COUii>-----5-20s, 1868, COUP-----10-40s, reg - ~ - - - - - - - - 10-40s, COUP---------Currency 6s ---------- 1135g 118 11814 11414 116 1181s 11714 1181g 118 11434 115 11712 116 1193g 1195g 1155g 11712 11912 1185g 11912 11934 11612 11634 120 1193g 1193g 11334 11634 119 12012 120 1143g 11714 120 U. S. 6s of 1881, reg _____ 1195g 6s of 1881, COUP--- ---- 12O7s 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 1881, COUP--- ---- 11634 412s, 1891, reg-------- ---Currency 6s ----- ----- 1223g 122 12234 1177g 1197g 12214 123 11914 11934 1185g 122 12212 117 11914 121 1231g 1165g 1195g 1173g 1235g 1237g 11814 120 1225g 12334 11814 12134 1187g Ui:~ m14 1183s 1193s 11112 1165g 118 1191g 120 12312 125 ---- ---11512 11934 12112 1221g 1167g 118 122 1165g 121 12314, 123 11734 118 1223,r- 11214 11512 10812 111°s 11 412 11612 112 11112 1103s 108 1207g 11:Fs1173,r. 1O95g 11334, 11634 118 11378 1131g 1123s 1O95g 12214 1876. of 1197g 12034 1161g 117 7s 1197g 1215g 11634 1195g 1173g ---- - --- -- - - -- -12512 1265g 1257g 12612 117 11712 11234 113 1163g 11814 1143g 11514 1147g 11118 1263g 1177s 12834 1131g 11334 117 11812 11512 116 1157g 1113g 127 1155g 11634 11134 1115g 11434 11612 113 11312 11312 11O3g 123 1181g 11914 114 1133g 11614 118 11434 1157s 1151s 11112 12534 11612 117 10934 11212 11512 11634 1135s 11414 11134 110 1235g 11734 1181s 11014 11314 11614 1175g 1141s 11512 11314 1113g 12412 1877. u. s. 6s of 1881, COUP - - - _ 1137s 1147s 11134 11412 1115g 1133g 11212 11414 1141s 11534 1145s 11518 llFs 11212 11114 1123g 11O3g 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 ---------- 10814 10914 1121s 11434 11214 1121s 111 10912 11O7g 114 11712 1141g 11412 1125g 10734 10838 1113g 11412 1091 2 11338 10914 10812 11034 11312 1167g 1113s 11418 lllls 10734 108 llllg 113 10914 11O5g 1091g 10812 10912 1127s 11412 11O7g 11112 11034 1O85g 10812 1113g 1133g 11O5g 11112 11012 ---- ---- ---- 11112 11012 113 1151g 1123g 113 11214 ---- 11O3g 113 115 1121g 1127s 11O7g 1083g 10734 10434 1075g 11012 106 1O55g 1033g 10034 11914 1073g 10334 10612 10914 10578 1043g 1O31g 10012 119 11134 1143g 116 113 11334 112 109 11314 11612 11258 113 112 10834 ---1227g 10612 10858 u•v 2 112 11234 111 1O83g 1053g 1231g 107 10912 1125s 113 11314 112 109 106 126 1O57g 1O81g 11O7g 10812 112 10834 1077g 104 12334 107 1O93g 11112 1095g 113 1s llOlg 109 10512 12514 1O53g 107 1095g 1O67s 10734 1O71g 105 1O13s 12058 1057g 108 llQlg 1085s 1".)934 10834 10634 103 1233s 10912 11034 ---- --- ·105 1O57g 1067g 1O83g 1091g 10934 1063g 1O75g 1O73s 10878 1O65g 1O77g 1O37s 10538 1011s 1025s 12O1/l 12034 I055g 10814 110 10734 10814 10612 1051g 1O21g 12114 1063g 1055g 10914 10814 1111~ 110 1081g 1O65g 10834 10712 107 10514 1O55g 1031g 10234 101 122 120 10634 10934 11134 10838 109 10738 10514 1O31s 12214 11034 1051g 1085g 11114 1091g 107 1043g 10112 12O7g 107 1023g 1051g 1O75g 1087g 1067g 1O47g 10014 120 10758 1025g 1O61g 10814 1093g 10734 1O47g 10O5g 12014 10712 1023g 1045s 108 10834 106 10434 1OO5g 1197g 10814 10234 10512 108 10914 1O63g 105 10O7g 12O5g 1073g 10258 1O51g 107 4 106 10534 1033g 10012 11912 10814 1O27s 10512 108 10612 10614 10334 10O7g 1197g 10758 10234. 1051 8 1073g 10534 10514 1027g 9934 11918 1O81g 10314 1061 8 108 1063g 1O61g 104 10018 12038 10814 1033g I057g 1081 2 10612 105 104 100 12114 1091g 10334 10612 10912 10734 1063g 10514 10O3g 122 10912 10334 1061g 10934, 1081s 10634 10434 10012 12Q3g 105 10512 ro514 1065s 10614 1071g --- - 110 ---- 1O91g 1123g 11512 11134 11212 11O7g 10634 - --- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- 10612 1025g 1051g 10034 1073g 10518 10314 1013g 11812 10714 10314 106 10914 10834 1O63g 10414 10234 11912 1053s 1025g 105 108 10612 103 10238 1017s 11812 10612 10334 1061g 109 10812 1043g 10312 10214 11912 1055g 10312 10512 1085g 1037g 103 10178 10O7s 118 1071g 1045g 10714 109 1053g 10412 103 lOFs 119 1071g 104 107 1O95g 1053s 1043g 10234 lQQ3g 11714 10614 10134 10234 1O43g 1057s 10434 993g 11912 1O67g 1023g 10434 1083g 10112 10614 100 1211g 1057g 102 10212 10434 10414 106 100 12O7g 10634 10214 1027g 1053g 1047s 1O63g 10O1g 122 10534 102 1023g 10114 1037s 104 991g 1213s 1065g 10214 10212 10214 1O45s 10514 10O1g 122 1057g 10634 10612 10712 1O73g 1075g 1043g 1047g 1O41g 10434 1O43g 105 ---- -- -- -- -- -- -- ---- ---- ---- ---- ---- ---- ---12Fs 12338 12212 12334 1223g 1233g 1233g 12434 1251g 12512 122 11014 11O7g 10913 111 --- - --- - ---- -- -- 1878. U.S. 6s of 1881, coup __ __ 5-20s, 1865 new, coup __ 5-20s,1867,coup _____ _ 5•20s, 1868, COUP- - - - - 10-40s, COUP --- ------5s of 1881, COUP----- - 412s, 1891, COUP------4s, 1907, coup-------Currency 6s -- -------- 1087g 10434 1O75g 10934 10758 1057g 1047g 1O13g 122 10838 1045g 1071g 110 10712 1O53g 1O33g 1011s 119 1091g 1O35g 1O51g 108 1075s 1QG1g 104 1QQ3g 119 1879. U. s. 6s of 1881, COUP- - - 5-20s, 1867, COUP - - - - - 5-20s,1868,coup ____ __ 10-40s. COUP - - - - - - - - - 5s of 1881, COUP- -----412s, 1891, COUP------ 4s, 1907, coup-------Currency 6s, reg_ - - - - \ ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- -- -- -- -- - - - .! ------- --- - ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- - --- ---- ---- 10114 10412 1O47g 99 12112 102 1051g 10634 10134 12412 10312 107 1017s 1241g 104 1077g 10312 12512 1035g 10534 10212 123 10334 10612 103 12312 1035/l 1O57g 10134 1225s 10414 1061 2 1O23g 124 1017s 105 10O5s 12314 1880. 10234 10214 103 10234 10312 10614 1O43g 10534 10514 1057g 102 1011s 10234 1O15g 1023g 12314 - - - · - - - - 123 123' 102 to61s 10214 124 1023s 10714 1O35g 125 10212 1053g 103 12114 1O33g 1O63g 10414 122 / u. s. 6s of 1881, COUP---- 1041g 1O47g 1O5lg...lQ55g 10514 1057g 1057g 10614 1063s 1011s 1O65g 10711, 1037s 10414 10412 10434 10412 1045g 10434 1047g 1043g 1047g 1041s 1045s 5s of 1881, COUP------- 1033g 104 103 412s, 1891, COUP------- 1063g 10734 1077g 4s, 1907, coup ________ 103 10434 105 Currency 6s, reg ______ 126 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1O35g 103 10312 1033g 104 10234 1O33g 1031s 1035s 1033g 10334 1O25g 10914 10712 10812 1O87s 1091 8 10878 11058 1093g 10934 10934 11O1g 11114 10714 10612 1073g 1065g 10712 1071g 109 10834 1O97g 1081g 1093g 1097g 126 128 10234 10212 10234 10212 103 1113g 109 11034 10814 11012 11O1g 1083g 11O5g 10714 1095s 128 1O13g 11114 1097g f2912 102 1125g 11212 130 101 1115g 11112 134 10112112 1135s: 134. UNITED STATES SECURITIES. 64 U.S. OOVER.NMENT SECUR.ITIES. January. Febtary. April. March. Ma,y. Jul,y. June. Auoust. Sept'ber. October. Nov'ber. Dec'ber. Low Hi(Jh Low Hioh :(,ow Hioh Low Hioh Low Hi(Jh, Low Hi(Jh Low Hi(Jh, Low Hioh Low Hioh Low Hi(Jh, Low Hi(Jh Low HiOh 1881. U. s. Gs of 1881, coup ____ 10112 5s of 1881, coup _______ 10112 412s, 1891 , coup __ _____ 112 •4s, 19.07, coup _______ 1123s Currency Gs, reg _____ _ 133 10134 1017s 1125s 11312 133 10134 1003s 11134 1123s 10134 101 1127s 114 101 10234 1147s 1181 2 131 1007s 1017s 1145s 1177s ---- 101 10034 10112 1011s 10138 10114 10138 100 10014 10114 102 - __ - _____ -- _____ - -- - ____ - - - - - --- - - - - - - - 10212 102 1031s 1017s 103 10114 10214 1011s 10134 10034 1021s 1011s 10114 1005s 10158 10014 10014 10134 10134 10112 103 3s 1147s 1135s 11334 11514 11612 11512 11614 1141s 11414 114 115 1145s 1145s 1121s 113 113 11314 113 1131s 1127s 11312 1181s 118 1195s 11838 12134 12os8 1211 2 1201s 12034 1185s 12058 1195s 12014 11912 12014 1185s 1191 2 1187s 11912 120 121 ________________________________ ________________________________ ___________________ _ ________ 10214 10214 10134 1023s 1025s 103 1037s 11314 1187s 10334 ---- 1037s 1137s 120 10414 _ - __ 102 1007s lllls 1127s 131 10214 102 11234 11434 131 1023s 102 1125s 11312 133 1037s 1021s 1143s 11614 133 10334 1015s 11434 1161s 135 10612 105 11612 11814 135 1027s 103 1147s 1175s 134 104 10414 1153s 11838 134 10214 1015s 1143s 11534 103 10234 1147s 11714 10112 101 11334 11434 1025s 1021s 1145s 11658 1007s 101 1127s 116 10112 10112 1135s 11738 1003s 9934 113 11512 l0lls 1021s 113 11638 10114 1017s 113:is 116 10134 10212 1145s 11112 1003s 1023s 11334 1175s 129 10112 10312 1145s 1185s 130 1882. :U.S. Gs of 1881 (a) coup __ 5s of 1881 (a) coup ____ 41 2s , 1891, coup _______ 4s, 1907, coup ___ _____ 10034 1021s 1143s 1171 Currency 6 s, reg ______ 131 4 Optional 3 s, reg _______ ---- ---- (a) Continued at 312%. 1883. U.S.6sof1881 (a)cou p __ 4 12s , 1891 , coup _______ 4s, 1907, coup __ ______ Optional 3 s, reg _______ Currency 6s, reg ______ 102 ll234 1187s 1031s 13112 104 1135s 11934 10412 13112 ---11212 119 1035s ---- _________ ___ 1133s 1131s 11334 12012 119¾ 120 10414 103 10334 - - __ ________________________________ _______________________________ _ 113 11338 1123s 113 1123s 113 11234 11312 11214 114 11334 1147s 11412 115 113 7s 1147s 119 11918 119¾ 120 11812 11918 1187s 119a8 11938 12114 120 122 12134 12234 123 1251s 10314 1035s 10312 104 103 103¾ 103 1035s 10112 1033s 10014 10012 10014 10038 10034 102 13212 135 13534 13612 136 13612 134 13412 -(a) Continued at 312%- 1884. lJ S. 41 2s, 1891, coup ____ 1141s 1147s 11438 11458 11314 11378 113 11378 110 11358 4s , 1907, coup ________ 12314 12414 12358 12318 12334 12418 12314 124 11812 12314 Option 3s , reg ______ _ 10078 10078 101 101 101 101 10034 10114 100 10034 Currency Gs, reg ______ 1343413434 1351413514 ___ _____ ______ __________ 1103s 11158 1181 2 12oa4 100 10034 _____ ___ 112 11258 ________ 11178 1123s 11812 12058 1195s 12038 120 1211s 100 10014 1001s 10034 10034 101 ___ _______ _ ____ ___ ______ 1123s 11334 11034 12118 10014 101 ___ _____ 113 7s 11412 12112 12234 _ - _ __ - __ _ _______ 11234 113 7s 122 14 12334 101 12 10112 ___ ____ _ 11214 12218 10314 13412 11212 122a8 103 1s 13314 11212 122ss 10312 134 11312 1235s 10234 ____ 112¾ 1235s 103 18 133 1885. u. S 412s, 1891 , COUP---- 11258 11278 11212 4s, 1907, coup ________ 1211 2 1221 8 12134 Optional 3s, reg _______ 101 10112 10112 Currency Gs, reg ________ ______ --- - 11278 112 11218 11238 11234 11234 12238 1221 8 12258 1213s 1221 4 121s8 102 101 10112 101 10218 10258 ____________________ 13614 11314 1221 4 10314 13712 11234 1231 2 10412 135 1127s 12218 10378 1333s 11234 11314 1225s 12318 10278 10314 ________ 1121s 1221s 10318 134 11212 12312 104 134 11312 124 104 134 11312 1237s 104 ____ 1127g 1243s 10412 133 1886. 'lJ. S, 412s, 1891, coup ____ 11212 112a4 11218 114 11134 11258 11212 11212 1123s 11234 1113s 1121s 11134 11218 11118 1117s 10978 11212 1113s 1121 2 1107s 11112 11014 11034 4s, 1907 , cou P - _______ 123 124 1241s 121as 12534 12112 1257s 12612 12534 12614 126 121as 1257s 127 12512 127 1261s 12834 12734 129 127 12914 12814 1293s Optional 3s, reg ______ _ 10034 10212 1003s 101 1007s 10112 1007s 10134 1007s 10112 1013s 10212 1005s 1003 10oas 1005s 10012 10012 100 10018 ________ 10034 101 Currency 6s, reg ______ 13514135141361s 13618 ________________________________ 135 135 4 ________ 133 134 ________________ 132 13212 1887. ·u. S. 4 12s. 1891, coup ____ 10934 11812 4s, 1907, cou P- ____ ___ 12634 12812 Cur. Gs, 1898. reg ____ _ 13212 13258 Cur 6s, 1899, reg _____ .________ 110 12838 13458 13718 11014 12834 1345a 13714 10878 128 135 13612 10918 12958 135 13678 110 12834 13478 13712 11038 1101s 11018 10914 10934 10878 10914 12938 12834 12958 129 1291 2 12714 12818 1347s 13214 13214 131 132 13712 1371s 13718 1063s 10634 4s, 1907, COUP - _______ 12514 1261 2 12534 12658 12538 12512 6s , cur., 1898, reg ______ _______________ 127 127 6s, Curr., 1899, r eg ____ ---- --- - ---- --- - 10612 12334 1277s ---- 10778 1265g 1277s ---- 108 1253s 128 129 11038 12518 128 129 108 10838 10814 10834 10838 109 127 1085s 12412 12558 12412 1261 2 1263g 12634 12412 12634 ___ _____ 127 127 _______________ _ _______________________________ _ 1888. U. S. 412s, 1891, coup ____ 10112 1081 2 10112 108 10734 10818 107 10718 10114 10714 10112 10734 1067s 1067s 1085s 1085s 10812 1093s 10812 10834 12612 12718 12712 12818 12714 12738 1273g 1285s 12812 130 12658 129 12714 12812 128 1s 12812 ________________ 127 127 _ _____ __________ 12912 12912 13014 13014 - --- ------- ---- --- - ---- 1889. u. s. 412s, 1891, COUP---- 10812 109 109 109 10734 1081s 1081410814 - --- ---- 1067s 10678 1063410634 1067g 1067b - --- ---- 10534 10534 1051210512 10434 105 4s, 1907 , coup ________ 12614 12814 12818 12878 1295s 12918 12834 129 12914 1291 2 12914 1295R 1281s 12812 128 12818 12778 12814 127 12714 127 127 127 18 12712 6s, curr., 1898, reg ____ 12712 12712 ---- _______________________________ ___ ________________________________ __ 1255s 1255s _______ _ 6s, curr. , 1899, reg _ ___ -------------------------------- ----------- ----- -- ------------- - ---- --- - - --- ---- ---- ---- ---- ---- 1890. u. s. 412s, 1891, COUP---- 10434 105 10412 10434 10312 10334 10312 10312 -- -- ---- 10234 10318 103 103 --- - -- -- 10334 10334 ---- ---- 104 104 - --- ---COUP - _______ 125 12614 12318 1233g 122 12318 122 1221g 122 12214 122 12234 12112 124 1237s 12378 124 12612 1225g 12414 123 124 122 12314 6s, curr., 1898 , reg _______ _ ____ ------------------------ 12434 12434 --- - ____ ---- ____________ ---- ___ _ - --- ____ ---- --- - 115 115 4s, 1907, 1891. U. 5. 41 2s, 1891, COUP- --- ___ ____ _ -- -- ---- ---- ---- 102 102 ---- ---- ---- ____ 1005g 10058 10034 10034 ---- ____ --- - ---- --- - ---- -- •- ---COUP ------ -- 12014 12112 121 121 12112 12112 122 122 ---- --- - ---- ---- 117 11718 11634 11634 117 11812 116 117 11614 117 11678 11814 6s, curr., 1898, reg ___ _________ ---- ---- ---- ---- ---- ---- ---- ____ - --- ____ 118 118 - --- ---- ---- --- - - --- --- - ---- ---- --- - --- - 4s, 1907, 1892. •U.S. 4s, 1907 , coup _____ 11612 1111a 11634 117 11114 1111 2 1155s 1163s 11612 11112 11738 11818 11614 11678 116 11614 1147s 115 11412 115 1145s 115 114 11453 4s, 1907, reg __________ 116 11714 11612 11634 116 11638 11558 1161s 11534 11712 11614 11634 116 11634 116 116 _ _______ 11438 1155g 11414 115 113 11312 6s, curr., 1898, reg ____ 116 116 - --- --- - --- - ---- - --- ____ --- - ____ ---- ____ - --- ---- ---- ____ ---- ____ - --- -- -- --- - --- - - --- --- 6s, curr., 1899, reg ____ 11812 11812 1893. s. 4s, 1907, COUP- -- -2s, optional, reg __ _____ 4s, 1907, reg __________ ,6s, currency, 1898----- i{J, 113 114 11234 113 11212 11412 11234 1135g 1125s 11234 110 11134 108 9934 97 11134 11218 11234 11358 11212 113 110 11034 10812 ________ - --- ____ 11312 11312 ---- ____ ---- ____ --- - ____ 108 11114 108 11212 11112 112 97 lllls 10734 1117s 110 11012 108 --- - ____ ---- ____ 111 11112 __ ____ __ 11034 111¾ ---- --- - 11212 9514 112 --- - 11212 11334 11418 1141g 114 115 11738 11112 11738 1111 2 11312 114 1127s 11334 - - - _____ - - - - - - __ 117¾ 117¾ 11712 11112 115 11914 1141s 104 11812 11414 119¾ 1141s ---1193, - --- 1143g 116 11434 116 11712 119'8 11714 11912 11412 1155s 11312 11418 ________________ ___ _____________ --- - ____ 96 1133s 11414 11134 113 114 9514 11312 ---- 114 ---113 ---- 115 --- 114 --- - 1894. u. s. 4s, 1907, COUP- ---- 6s, 1904 , coup ________________ 4s , 1907, reg _____ _____ 11258 114 Cherokee 4s, 1897 - ____________ 5s, 1904, reg ________ __ ________ 6s, currency, 1895 _____ ________ 6s, currency, 1896 _____ ________ 6s, currency, 1898 -- --- u. s. 4s, 11412 11434 114 11414 11414 115 11334 118 11912 11734 11814 1175s 11814 1181s 11312 11414 11312 114 1125s 11338 11314 - - - - - - - - - - - _ - ___ - - - - - ___ 104 ________________ 1177s 11838 118 114 115 115 115 11112 119 119 11934 11358 1147s 114 114 - - ______ 118 118 --- - ____ --- - ---- ---- ---- ---- ---- ---- ---- ---- ---- 10112 10112 ---- ---- 115 120 11412 - __ _ 11934 ---- 119 119 ll7 14 119 --- - ---- - --- ---106 --- - ---11114 11114 --- - ____ ---- ---- ---- ____ ---- ____ ---- ____ ---- ---- --- - ---- -- -- ---- - --- --- - 106 1896. 1907, COUP ----- 11234 11312 110 113 11234 1127g 112• 1123s 11212 1133g 11312 11358 11212 113 11258 1125g 11212 113 11134 112 112 11214 112 4s, 1925, COUP ----- - - - - - - - ---- 11814 1193g 119 12012 12012 12112 12012 1235g 12358 12378 12314 12418 12134 12214 12112 12314 1223g 123 12058 12112 119 5s, 1904 , COUP-------- 11558 11714 1143g 11614 1153g 116 11518 11612 1153g 11614 11618 11634 11634 11634 1151g 1153g 11512 116 11534 1161 2 11434 1_1514 112 ·4s, 1907, reg __________ 11214 11312 110 113 11034 11138 11112 11134 11134 4s, 1925, reg ---- -~---12012 12034 12034 12034 12058 5s, 1904 , reg ____ ______ 11438 11714 11434 ll618 11578 116 11478 116 ·2s, optional, reg __ _____ ___ _ ____________ ---- ---- _____ __ _ 9612 6s, currency, 1896- ____ 10234 10234 _ _ _ _ _ ___ - - _ _ - _ _ _ _ _ _ _ _ ___ - _ _ _ -6s, currency, 1898 ----- ___ ___ __ 10834 10834 ________ 10812 10812 109 11278 1117s 11214 12112 11634 11634 9612 - --- ____ _ ___ - - - - _ - __ 109 _ _______ 112 11212 11214 11212 11134 11558 97 ---_ ---- 11678 115 97 - - ---~---- ___ _ 6s, currency, 1899---- - __ _____ _ --- - ___ _ --- - ---- ---- ---- ---- ---- ---- ---- ---- ---- 109 1153s ---- - ------ - --109 ---- 1896. (J s. 4s, 1907, COUP----- 109 110 4s, 1925 , COUP- ------ - 11514 117 6s, 1904, COUP ----- --- 113 114 2s, optional, regis --- -- ,4s, 4s, 5s, ·ss, 6s , es, 1907, registered - ___ 108 110 1925, registered ____ 11412 11412 1904, registered - ___ 112 11312 currency, 1897 - _______ ___ __ currency, 1898 - ____________ currepcy, 1899 ----- ________ 10812 111 113 118 112 114 108 113 112 11014 11734 11312 105 105 - - - _____ ---- ____ 11014 llllg 1091g 10978 1097g 11014 10912 11014 1163s 11714 11634 119 11638 1177g 1163g 11814 113 11312 11312 11418 11258 113 11234 11314 ________ 95 95 10814 1081 2 10838 109 10834 10914 108 10878 11612 11738 117 118 11612 1175s 11614 1181s 113 113 11334 11334 1127s 1127s 11234 113 10314 10314 _ - _ - ___ - - ___ - _ - _ - - - - ____ _____ __________ __ _______ ________ 10112 10112 - --- ---- ---- ---- ---- ---- 10638 11358 10914 91 10534 11334 110 ---103 ---- 1077g 1171g 11112 91 10612 11612 11014 ---103 ---- 10612 10814 10914 1101 2 11012 115 11812 11812 1203g 119 11012 1111 ~ 111 113 12 113 38 96 96 9512 10578 10734 10812 11012 109 11512 1161 2 11934 120 120 1103s 11038 111 14 11234 113 38 ---- ---- ---- ---- ------- ---- ---- ---- ------ - ---- --- - ---- --- - 11212 11314 12534 125 11378 1137s 98 12 9814 11214 11134 12534 12618 113 7s 11414 114 126 115 98 14 112 14 1261s 11414 11312 126 115 ---112 1271s 10712 1091g 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 ---- ---- 11138 1121 2 1121 8 11314 113 1131 2 112 11234 112 11258 1125s 11314 1117s 1123s 112 4s, 1926, COUP- _______ 12018 124 122111 1231g 123 12334 1235g 12412 12212 12314 12334 1253g 12478 12634 125 5s, 1904 , coup ___ _____ 11414 11438 113¾ 11378 11378 11414 1141s 114¾ 113 11312 114 11434 11412 115 11314 -2s, optional, regis --- -9812 4s, 1907 , registered ____ nos8 111s8 1111 2 112 111 1113s 1107s 11112 11034 111 11038 11112 1115s 112 112 4-s, 1925, registered ____ 12014 1221 2 12238 122a8 12314 12358 123 12312 12234 12314 12518 1251s 12418 12534 12512 5s, 1904 . registered - ___ 1131 4 11334 11334 11334 1137s 11414 11314 11314 113 11314 1135s 1145s 11312 6s, currency, 1898- __ __ 1031g 10314 10312 10312 6s, currency, 1899 ----- __ __ ____ 10612 1065s ________ 10712 10734 ____________ __ ___ ___ ---- ____ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 11212 12038 114 96 11012 1203s 114 ---------- 1 1897. :U. s. 4 s. 1907, coupon ___ 11212 :r.n3s 115 11134 11134 1121s 1115s 1117s 110 11112 12034 1207s ll7 12 11712 Ll458 116 1147s 115 11312 11518 ------- --- - ---- ---102 1s 102 18 ---- -- -- ---- - --- ---· --- - --- --- - -- -- --- - ---- ---- - --- ---- 114 12814 1157s - - -1127s 12718 11334 1275s 114 ---11234 12714 11314 10234 ---- ---- ---- ---- ---- ---- 11418 12812 11478 ---1131s 127 14 115 10234 _,_ __ 115 115 12858 12912 1143s 115 112 1s in78 11412 9934 --- - 113 129 11412 99 34 ---- UNITED STATES SECURITIES. U.S. OOVERNMENT SEC URlTfES. January. February. March. April. Mav. June. July. 65 Auqust. September October. November. December; ___________,_____ _________ _____,_____ _____,_____ _____ _____,____ _____ ____ Low Hi{Jh ,Low Hiqh Low Hi{Jh ,Low Hiqh Low Hi{Jh ,Low Hiqh Low Hi{Jh ,Low Hi(lh ,Low Hi{Jh Low Hi{Jh ,Low Hi{Jh ,Low Hioh 1898. U.S. 3s, 1918, coupon --- ____ --- - ---- ________________ ____________________ 104 10412 10412 10512 3s, 1918, small COUP------- ---- ---- ---- ---- ---- ---- ---- ---- ---- --- - ---- ---- ---- 10434 10512 4s 1907, coupon- ______ 1135s 1145s 113 11434 110 113 107 111 108 11114 110 11114 11034 11114 111 112 4s, 1925, coupon ______ 12812 12934 1235s 12834 11812 1253s 11734 12214 120 12314 122 125 125 12812 12634 12734 5s, 1904, coupon ______ 114 115 11312 11334 11014 11212 11012 1117s 10934 111 111 11112 112ss 11314 ________ 2s, optional, regis _____________________ 9812 9812 98 98 ________________________________ 3s, 1918, registered---- ____ ____________________________________________ ---- ____ 105 105 4s, 1907. registered - ___ 11238 1131 8 1111s 11312 10834 111 106 10912 10634 109 10734 10912 11014 111 111 11112 4s, 1925, registered - ___ 12112 12912 12612 12834 11812 125 11634 12112 1217s 12214 12412 12412 124 124 12112 1281s 5s, 1904, registered ____ 11312 115 ________ 11134 1113 11112 11112 10934 11014 ________________ 112 112 6s, 1899, reiristered---- 104 104 10312 10312 103 103 4 1027s 1027s ________________________ 10214 10214 10434 10512 1051s 1061s 10412 10514 1043g 106 11112 112 1105s 112 127 1275s 127 12814 1121s 11214 1123s 11314 _________ _____ __ 10514 1053s 10412 1055s 11012 11012 11012 111 127 1273s 12634 12714 11212 1125s 11234 11234 __ ______ 10212 10212 10514 106 1057s 10734 105 106 10512 1071g 11134 1125s 11212 11312 12634 1275s 12712 12914 112 11212 11212 113 985s 985s 9912 9912 10514 1057s 106ls 10112 111 11134 lllls 112 12718 12712 12112 12834 1117s 1121s 112ss 1125s _______________ _ 1899. U . S 3s, 1918, coupon- __ 1071s 108 10634 1073s 3s, 1918, small coup ___ 10612 10712 10612 107 4s, 1907 , coupon ______ 11212 113 1123s 11314 4s, 1925, coupon ______ 129 1295s 128 129 5s, 1904, coupon _____ _ 11234 11314 1117s 112 2s, optional, regis _____ 9912 997s 99 99 3 s, 1918, registered---- 10612 1075s 10634 10714 4s, 1907, registered- ___ 1117s 1123s 11214 1125s 4s, 1925, registered __ __ 1285s 129 128 1285s 5s, 1904, reiristered __ __ _______ _ 11134 11134 107 10814 1077s 109 10612 1075s 1073s 109 112 114 11212 11334 1283s 12912 1293s 1301 2 11134 1125s 113 11312 ______________ __ 107 1081s 10714 1081s 111 1121s 1123s 11234 12834 12834 12912 1291 2 112 112 112 11312 1075s 10714 l123s 129 11134 ___ . 1081s 1121s 12912 112ss 10912 10812 10912 10834 1093s 1085s 108 10914 10812 10912 11414 1135s 11412 1125s 11312 1303s 13012 131 12912 13012 1127s 113 113 112ss 112ss ____________ 10112 10112 10 34 10 12 10934 10812 10812 113 11214 114 11214 1125s 1303s ________ 13014 13014 1125s ________________ 1081s 10834 10814 10834 1081s 10812 108 10814 108 1087s 1073s 108 11314 11334 113 11334 112 11212 1301s 13012 130 13012 130 13012 11112 11112 112 112 1113s 112 ________________________ 10812 10834 1083s 1087s 10714 1075s 11214 11214 lllls 11112 11114 1115s ________________ 1::?91s 12934 11112 11112 llFs 112 11012 11012 1075s 108 1125s 129 14 11012 101 108 112 12934 111 1095s 1095s 1133s 1325s 1113s 101 108 11312 13253 111 109 10912 11314 13312 11112 102 10934 1125s 13234 11212 11034 11014 11512 13412 11312 102 11034 115 13414 11314 1900. U. S, cons. 2s, 1930, coup.---- ---- -- -- ____ 104 105 10314 10412 1031s 104 3s, 1908-18, COUPOn- - - - 110 11034 10914 11134 10934 11214 110 11034 109 110 3s, 1908-18,small,coup.1091211012109 4s, 1907, coupon ______ 114 11434 11434 4s, 1925, coupon ______ 13334 1341 4 1341s 5s, 1904, coupon ______ 11314 11358 114 111 118 1347s 1155s Cons. 2s, 1930, reiis--3s, 1908-18, regis --- --4s, 1907 , registered - -- 4 s, 1925. registered - ___ 5s, 1904, registered---- 112 11514 135 11312 1091211134 11434 11812 134 1375~ 11434 1163-1 109 1141s l'l3 1131 2 2 s, optional. regis ___ __ ---- ---- ---- ____________ 10014 ________ ---- ____________ ---- ____ 109 10912 10912 11012 10834 10912 10912 11012 1093410812 1091210812109 ---- ____ ---- ____ 1093410934 11512 114 11614 1151s 1155s 1145s 116 1151s 116 1153s 11 6 1341 4 13412 135 1343s 135 134 13414 13134 13414 134 1341s 1141 2 11212 114 1131s 11312 114 114 1131s 11314 11312 11334 10012 _______ __ ______________________________ _ _______________________________________________________________ _________ 10914 114 1331s 1123s 1097s 11434 1331s 1123s 11114 11412 13414 11234 11114 115 13412 11534 112 11112 13712 11612 10834 114 1325s 11212 109 115 133 112ss 10834 11412 13412 1125s 1091 2 11614 1345s 1141s ________ 1091s 11414 11412 11412 13414 1347s 1331s 11312 11312 11334 110 116 1331s 11334 10912 10912 11512 11512 ___ ____ _ ____ ___ _ 11014 11412 13414 11314 11012 11434 13414 114 104 104 ---- ___ _ 10434 105 10912 11012 10912 11012 10934 112 ---- ---- 109 1103s 109 14 110 11412 115 115 14 116 14 115 12 11634 - - _ ___ __ 134 12 1385s 138 1381s 1137s 114 1s 11234 114 113 11334 --- - ______ _____________ _ 104 104 10434 105 1043s 107 10912 10934 10934 10934 10934 1101s 1147s 115 115 116 11412 11634 - - - - ____ 137 138 138 1s 139 1125s 11334 113 113 115 115 1901. 11.J. S. cons. 2s, 1930, coup. 10514 106 Cons. 2s, 1930, sm, cou 3s, 1908-1918, coupon-_ 3s, 1908-18, small coup . 4s, 1907, coupon ______ 4s, 1925, coupon ______ 5s, 1904, coupon ______ Cons. 2s, 1930, reiis--3s, 1908-18,regis -----4s, 1907, registered ____ 4s, 1925, registered ____ 5s, 1904, reiistered---- 10514 1057s 1063s ____________ 11012 11112 11034 11012 11034 111 11334 114 114 ________ 13734 11034 11034 11134 10512 106 10534 11034 11078 111 11334 11414 113 ________ 1377s ---- ---- ---- ---- 1117s 10534 11012 110 114 13812 110 10512 10912 114 13712 10534 111 110 11412 13812 11312 10512 11012 11412 138 1063s 10614 1067s 10612 10634 1067s 10814 10714 1075s ________ 1085s 1085s ---- ____ 109 14 109 14 109 12 109 12 __ _______________________________________________________________ __________ _ 112 11114 112 1093s 11012 10834 10912 10812 10834 10814 10834 1083s 10838 10812 10812 10812 10812 108 12 109 112 111 111 ________ 10812 10812 ________ 10834 10834 ________ 10634 108 108 108 10 108 11514 114 114 ________ 11358 11358 11212 113 113 1131 2 11314 1131 4 112 11234 11214 11214 113 113 13814 13812 13958 13814 13834 1385s 13914 13812 13812 1367s 13712 137 13914 13912 13912 ________ 1393s 1397s 11134 11114 1121 4 10914 110 ________ 10912 10912 ________________ 108 108 ________ 10714 10714 10614 106 10612 ________ 10634 10634 ________________________ 109 1091s ________ 10834 1087s 111-38 ________ 109 10912 109 109 ________ 108 10 34 ---- ____ 107 12 10712 ---- -- -- ---- ---113 11314 11312 11312 11358 11212 11234 11234 11314 ___________ ___ __ 11134 11218 112 11212 111°s llFs 13778 ________ 13812 13812 ________ 139 139 137 137 ____ ---- ---- 139 14 13!l 14 ---- ---1117s ---- - - -- 110 110 ---- ---- ---- ---- ------- -- -- ---- ---- -- -- ---- ---- 1902. -U.S. cons. 2s, 1930, coup. 10812 10812 ________ 1095g 10958 10912 10912 109:ls 1093s __ ______ 10734 10734 ____ _______ ___ __ --- - ____ 10834 10834 ---- ___ _ 3s, 1908-18, coupon- ___ 10878 10912 10 , 8 109 109 110 1091 2 10958 108 1031 2 107 1011 2 1067s 1067s 10534 107 10112 10834 108 109 108 108 14 108 108 3s, 1908-18, small, COUP-------- 10814 10814 109 109 10912 10912 ---- ---- ---- ---- ---- ---- 1063g 10638 ---- ---- 10614 10814 ---- ---- 10734 10734 4s, 1907, coupon ______ 1117s 112 11218 1121s 11214 113 111 1115s 1105s 11114 11012 111 10834 10914 _______ _ 11114 11112 11034 11114 ---- ____ ---- ---4s, 1925 , coupon ______________ _________ _______ 13934 13934 _ _____ __________ -··- - ____________________ 13734 13734 13612 13612 ---- ___ _ 5s, 1904, coupon ______________ 10614 10614 _______________ _ ________________ 10612 10612 104 104 ________ 10514 10512 1037g 105 _______ _ Cons. 2s, 1930, regis--- ___ _ ---- - --- __ _______ ___ 10912 1097s __ _____ _________________ 10834 10 34 ___ _____ ---- ____ ---- ---- --- - ---3s, 1908-18, regis - ----- _______________ _ ________ 109 10918 ________ 1011 2 1011 2 ________ 10578 10678 107 107 1075s 1075s 10814 10814 10734 10734 3s, 1908-18, small, regis --- - ---- --- - ---· --- - ____ ---- -- -- ---- ____ ---- ---- 107 107 ---- -- -- ---- ---- ---- -- -- ---- ---- ---- ---4s , 1907, registered - --- 112 112 112 11212 11112 11112 11114 11114 11os8 1111 4 10912 10912 10814 1095s 10812 10812 1073,111012111 11112 1095s 111 10812 10912 4s, 1925, registered ____ 139 139 13912 13912 ___ ____________________ _ 13514 136 132 13214 ________ 137 137 ________________ 13512 13512 5s, 1904, reiristered---- ---- ---- ---- ____ 10612 10612 10514 10514 10512 10512 ________________________ 10514 10514 ---- ___ ___ __ ____ 10334 10334 1903. !{J S. cons. 2s, 1930, coup. ________ 10712 10712 ___ _____ ___ _____ 10614 10514 106 10614 10634 10634 ________ 10834 10834 10612 10612 10814 10918 10612 10612 ________ 10912 110 11134 11134 ________________ 1013s 10112 ---- ---1067s 1067s 10912 10912 10634 10634 ________ ________ 109 110 ___ __ ___ 135 1351s 10112 10112 10112 10112 3s, 1908-18, coupon - ___ 1077s 10834 1071s 10714 10814 109 10114 10834 10114 1011 2 108 108 10112 109 3s, 1908-18 small, coup____ _ 10718 10718 ________ 10812 10812 10714 10714 ________________ 4s, 1907, coupon ______ 10934 11014 ________ 10914 111 1101z 112 11034 1111 2 ___ _____ 111 11118 4s, 1925 , coupon ______________ 136 136 1:l7 13712 _____________ ____________ _______ 5s, 1904, coupon ---- -- ---- ---- 103 10314 10314 1033s ---- ---- 10314 10314 10314 10314 ---- ---Cons. 2s, 1930, reiis- --- ________ ---- ___ ____ ___ _____ _____ 106 10618 106 106 1067s 10678 3s, 1908-18. regis - __ _____________ ___ ___ 107 107 10734 10812 10714 10114 10734 108 10734 108 4s, 1907, registered- ___ 10912 11012 10934 10934 109 11012 11034 1111 4 11034 111 110 110 111 111 4s, 1925, registered- ___ ________ 1351s rn518 135 13534 1351s 1351 4 13518 1361 2 13514 13514 13414 13414 5s, 1904, registered-- -- ---- ____ ---- ____________ ---- ---- ________________ ---- ---- 10634 1083s 1093s 11034 13514 ---1065s 10712 11012 13514 --- - 10734 1063s 10638 1061s 1061s 110 10112 10812 107 108 1093s 10712 10712 ---- ---111 ________ 11014 1105s 13514 13414 13412 -- -- ------ - 101 14 10114 ---- ---10634 10638 10634 ---- ---10914 1077s 10778 - - - - _ - - 112 11214 11214 109 10912 13514 13334 13414 _______ • ___ _ ---- ---- ---- ---- •I 1904. • · U.S. cons. 2s, 1930, coup 10514 1055s --- - ____ 10534 10614 __ ____________ __________________________________________ 10412 10412 105 105 3s, 1908-18, coupon- ___ 3s, 1908-18, small, coup. 4s, 1907, coupon ______ 4s, 1925, coupon _____ ,Philippine g 4s, '14-34,cou U.S. Cons. 2s, 1930, regis 3s, 1908-18, registered4s, 1907, registered---Is, 1925, registered---- 10712 108 ________ 10712 10712 134 134 10634 10714 _____ __ _ 107 10714 10534 10634 106 10612 10614 10614 10514 10514 1055s 10558 105 10534 10434 105 1071g 10718 10614 10634 ___ __ ___ 10534 10534 ________ 105 105 1047s 10512 105 1055s ________________ 107 10712 108 108 108 108 107 10718 10714 10714 1063s 10634 ____________ ____ 10658 1065s 10412 10612 1323 1323 133 133 ____ ____________ 1321 133 ____ __ __ 13112 13112 ___ _____________ 1307s 1307s ________ ----4 ____4 11134 11134 ____________________2 ___ _________________ 11014 11014 111 111 ________ 10512 10714 ________ 10512 10512 10512 106 105 10518 ________ 1051s 1051s 10514 10514 ---- ---- ---- --- - ---- ---________________ 10634 10634 ________ 1055s 10534 ____ ____ 10434 10434 10458 105 ---- ---- ---- ---- ---- ---________ 10738 10738 10634107121081410814 10614 107 10614 1063~ 1063s 1063s _ ______ _ --- - ---- ---- ---- ---- ---________________________ 1327s 13278 1323s 1323s __ _____ _ ---- ___ ___ __ ---- 13178 13Fs ---- --- - ---- ---- 10412 10412 10612 1307s 110 --- ------- --- 105 10412 107 131 110 ------------· 1905. U.S. cons. 2s, 1930, coup. ________________ 10514 105:li! 10434 1047s _______ _ 10412 10412 ________________ ________ ---- ____________ 10314 10314 3s, 1908-18, coupon---- 10458 10512 104 104 10412 105 106 106 104 1047s 104 10414 104 10438 ---- --- - 10334 10414 3s, 1908-18, small.coup ______________ ___ ____________________ ______________ _ ____________________ 4s, 1907, coupon ______ 1051s 10578 10412 10412 10534 10534 10434 1051 4 ________________ 104 10414 1041s 10413 1047s 105 4s, 1925, coupon ______ ________ ---- ____ 133 133 ________ 13214 13214 133 133 ________ 13338 1333s 13412 13412 Philip. iold4s, '14-34 cou 1091s 1091s ---- __ __ 110 110 ________ 10914 10914 109 109 __________ _____ _________ U. S cons 2s, 1930. reiis ________________ 10434 10434 1045s 1047s 10412 10473 ________ 10378 1037s ________ 10414 10414 Ss, 1908-18, reiistered ___ _____ _ 10412 10412 ___ _____ 10434 10434 104 104 10334 104 10312 10412 ________________ 4s, 1907, registered ---- 10512 10512 _______ _________ 10412 10412 _______ _ 104 104 _______ _________________ 1037s 10434 10412 10412 10433 10514 13412 13412 10812 10812 10312 10312 103 10453 105 105's 4s, 1925, reiristered---- ________ ---- ____ 13212 1321? __ __ __ _______ ___ 132121321~ ________________________________ ---- - --1037s 10378 10518 1053s 13234 1333s ____ ---________ 10312 1037s 1043-11053s 13253 1333s 10234 104 _______ _ 10312 10373 13014 13034 11012 11012 ---- ------- ---1027s 10314 1303413173 10412 10412 ---- ---102 102 1s 13034 13034 --- - ---104 104 ---- ---________ 1307s 1307s _______ _ 104 103 3s 10178 13012 ---- 10514 103 3s 102 13034 ---- ---10034 ------- ---10034 ------- 1906. U.S. cons. 2s, 1930, coup. 103's 1031, 103 1035s 10412 10412 1035s 10373 _____ ___ 10312 10312 ________ 1045s 10478 ________ lMl2 10412 10:P2 10212 13112 ---------10214 --- 1051s 3s, 1908-18, coupon- ___ 1031g 104 1025g 1031g 10318 10434 104 1043g 10234 10314 103 10314 1025g 1025g 10312 104 10312 10378 10312 4s, 1907, coupon ______ 10314 1031 2 ________ 10334 1047s 1033s 10334 10314 103 12 1035s 10414 10234 1027s 10314 1035s ________ 10214 4s, 1925, coupon ______ 130 13112 12934 13014 ________ 131 13214 1291 2 13 1 12958 1295s 12934 12934 12933 13112 ________ 13014 Philip.gold 4s, '14-34,coup 10912 10912 10834 10834 ________________ 111 111 ________ ---- ---- ---- --- - ---- --- - ---U.S. cons. 2s, 1930, regis. 1031s 10318 ________________ 10318 1037s 1031 2 10312 10314 10312 1035s 10412 ________ 10512 10512 ___ _ 3s, 1908-18, reiistered _________________________ 103 1037s 10234 10234 10334 10334 ________ 10312 10312 __ - - _ - - - - - - 4s, 1907, reiistered ____ 103 103 10314 10314 10334 10334 1035s 1035s 10312 10312 ________________ 10338 1033s 103 103 102 4s, 1925, registered ____ ________ 1297s 1297s ____ ___ __ _______ 129 129 ________________ 13014 13112 131 1311s ___ _ Pan. Can 2s, 19~6, regis, ________ ---- ___ ____ _ _____ ______________________ ____________ ___ ______ ___ _ 1051s 1907, U.S. cons. 2s, 1930, 1,;oup. ________ 106 106 10614 10614 10412 10412 1041g 105 1051s 1051s 10534 1053.1 1051s 10534 ---- ---- 10414 10534 --- · ---- ---- ---3s, 1908-18, coupon---- 1027s 1031g 1023s 1033s 10312 10334 10334 104 1021 8 10214 1021s 1031s 10314 10314 ________ 102 10314 10212 1025s 10014 10234 10012 102 4s, 1907, couoon------ 1001s 10018 ____ ____ 1011s 1017s 101ss 10158 10112 101ss 1001s 1001s ____ -- -- ---4s, 1925, COUl)On-- ---Cons. 2s, 1930, regis- -3s, 1908-18, registered4s, 1907, registered---4s,, 1925, reiistered---- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 12912 12912 12914 12912 13012 13012 ________ 1053s 1053s ________ ________________________ 10073 1007s 10112 10112 1005s 1005s 129 129 1291s 1291s 13034 13034 1305g 1305g 1041s 10434 10234 10234 ____ ---________ 12934 12934 --·- ---- ---- ---- 127 127 12512 _____ ____ _____________ ____ _____ _ 1053s 10212 10212 ________ 10212 1027s ____________ 10112 10 112 1007s 1007s ---mo, 130 1287s 1287s ________________ 12514 12512 12434 12434 119 124 117 120 10512 105 1055s 10414 109 10434 10434 ---- 102 103 101 10212 ---- ---12614 11912 125 ---- ---- ---- • ---- UNITED STATES SECURITIES. 66 u. S. OOVER,NMENT SECUR,ITIES. ILow Janoory February March I Aprt.l Ma11 J une July I AU(lu, t September I October INovember IDecember Hi(lh Low High Low Hi(lh Low Htga Low Htqh Low Hi(lh Low High Low Htqh Low Ht -h Low H r,h Low -Htyh Low H i(lh 1 U.S. cons.i~~~30,"coup ___ l1041 1041 _______________ _! ________________________ 104 104 8 __________ __ ___ 8 _I ________________ ,____ ---- 3s, 1908-18, coupon --- --- 10114 10114 101 10134 101 101s8 1011210!! 10114 1013s ________ 10034100341003410034 ________ , ________ -- -- ---- 100341007s 3s, 1908-18, small, COUP - - - ---- ---- 1011210112 ---- ____ : __ __ ---- ---- ----,---- ---- ---- ---- ---- - --- - -- - ---- i ____ -- -- 10014 10014 ---- ---4s, 1925, coupon ---- -- - -- 12034 121a4 121 12212 1221 2 1221 2 123 12: 12 ______ __ 1221 8 1221s ___________ _ ____ 1221212212 ________ 122 122 ____ ---- i~n!~~t fGfo.~!;fs~~~=== 1041s 1oi12 104- ior rnf4 m~: io334 1oi- 1031-2 1_0_3341033410334 1035s 1-or 10334 103-34 104- ior ·1031210312 103121oit2 :::: ---3s. 1908-18, registered- -- ____ ____ 10114 10114 10114 10114 ______ ___ ______________ 100 10012 1017s 1017s 1011s 1011s ___ _ ____________ 101 101 4s, 1925, registered -- __ 118121181 2 119 119 1201 2 12214 _____ _ _ ___ _________ ___ _ 122 i~~~30, U. S. cons. coupon _ 103 103 ________ I________ 1021,110214 3s, 1908-18, coupon _______ 10114 101t 4 10034 1011 8 10134 10134 10218 1021,s 4s, 1925, coupon ---- ----- ____ ____ ____ ____ ____ ___ Cons. 2s, 1930, registered -- 1027s 1027g 10112102 1---- ____ ___ __ __ 3s, 1908-18, registered ---- 103;;8 103;;8 ________ ,__ __ ____ ____ 4s, 1925, registered _______ __________ ______ 1 _______________ ~:: im: ~::: ~=~=t ~:~!: =~== ==== 122 1211212112 121 10214 10214 _______ ___ __ ____ ________ 1021210212 ____ ,--121 121 ________ 11912121 -- · _____ 1015g 1015g 1011210112 _ _ __ 102 102 11914 11914 ________ 11734 1173,1 ml/! mg:.~~~- 1_~1__ ==~= ==-== ==== 1 1205s 1205s 11205s 121 121 ___ _ 101 101 ________ 10014 l00l,1 ____________ ---101 1011:i I011 2 10lig ________ 1011 21u112 1013s 1013s, ll8 11914 11714118 11712118 1163g 11612 116 116 ______ ___ _______ 1003s 1005g ______ __ 1001210112 101 102 10112101121013s101!21011410114 ____ ---11614 11634 116141163,1ll6l41I712115 1161s 11434114:14 ==== ==== ==== ==== ==== ==== ==== ==== ==== ~~~- 1-~~-I==== ==== ==== ==== STATE SECURITIES-RECORD OF. PRICES 1860 TO 1909, INCLUSIVE. In the tables which follow we furnish a recor 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 1866, inclusive. D ESCRIPTION . Compiled from Sale Prices. 1860. Lowest. Ohio, 6s, 1886-------------- 106½ Kentucky 6s _______________ 99 Illinois, Int. Imp. Stock, 1947 100 " " " Interest _____ 100 Illinois 6s, 1879, coupon _____ 10412 Illinois War Loan ______________ _ Indiana 5 %- _ _ _ __ ___ _ _ _ _ _ _ _ 86 Michigan 6 % --------------- 98 Tennessee 6%-------------- 64 Tennessee 6 % new bonds _______ _ Virginia 6%--- __ _ _ _ _ _ _ _____ 73 Virginia 6% new bonds _________ _ North Carolina 6 %-- -------- 7712 North Carolina 6 % new bonds ___ _ North Carolina 6% special tax ___ _ Missouri 6 %- __ _ _ _ _ _ _ _ _ _____ 61 Louisiana 6% ______________ 94 Call!ornla 7 % _ _ __ _ _ _ _ _ _ _ ___ 82 Jan Dec Feb Mch May 1861. Highest. 11312 10634 10612 10012 10612 Lowest. 1862. Highest. /lighe:.t . Lowest. Nov ___ _ Feb 93 Jan 115 Dec __ _ _ Jan 7012 J an 100 Aug June Oct July Sept Jan 03 Mch 106 Dec 93 87 Dec 109 65 April 97 ___ _ ___ _ 75 June 8514 Sept. - --- --- - - -- Aug 75 July 93 April June 77 Dec 8334 Oct June 3414 June 77 Mch Dec 95 Mch 36 April 81 Dec 100 Sept 44 June 8212 Feb 60 8014 77 75 7734 42 Mch 49 Dec 847s June 35 May 72 Jan 40 Jan 9912 Oct 4,5 May 7712 Mch 59 Jan 95 Sept, 7112 May 88 . J an 7634 Jan Jan Feb Jan Jan 110 10512 84 105 65 Jan 6512 Jan 74 Dec - --Dec ---May - --Dec --- Feb 57 1865. 1864. 1863. Lowest. Highest. Lowest. Highest. Lowest. Jilighest. July 64 Feb 50 Mch 92 Dec Oct 49 Dec 75 Feb 47 J an 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 Aug 112 Jan 167 Mch 79 Feb 80 May 155 Dec Dec Jan - --- --- - ---- ------ - - ---1 ---- - --Jan Feb Jan 6712 May 52 May 60 5912 Dec 75 56 4 Jan 70 Mch 52 Mch 55 Nov 80 Aug 13914 Mch 123 Jan 11612 Dec 114 1866 to 1871, inclusive. DESCRIPTION. Compiled from Sale Prices. 1866. Lowest. 1867. Highest. Lowest. Lowest. 1870. 1869. 1868 . High.est . Highest. Lowest. Highest. Lowest. 1871. Hi(lhest. . Lowest. Highest. - -- - - - - - - - - 1 - ----- - -----1·- - - - 1 - - - - 1 - - - - - 1 - - - - - 1 - - - - - - - - - ------ ------ - - - - - - - - T ennessee 6%-------------- 84 T ennessee 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 L ouisiana 6% ______________ 80 California 7% _____ _________ 106 Connecticut 6s ___________ ______ _ Rhode I sland 6s ____ __ _________ _ Mch 100 June x61 Nov 72 Jan 41 Nov 88 J an 45 Jan 7014 July - - - - - .. -- - -- Mch 60 Jan --- - --- - -- - Mch 6012 July Mch 9314 Dec 8634 Mch Jan 100 Sept 80 Feb April 120 Oct 115 Jan ____ 9812 Jan ____ 99 April 106 90 128 102 100 July J an Dec Sept Mch X597g Jan 7812 June x4914 4012 -- -X43 12 Jan 60 X47 49 -- -J an 79 x4034 X50 --- - 27 May June 84 Nov 108 __ _ _ 128 Dec 134 __ _ _ __ _ _ Dec Dec Dec Sept Dec Nov 70 697s 59¼ 6334 6638 64 Jan Jan Jan J an Jan Jan Jan 451g Mch X4812 Jan Jan 57 Jan X40 2012 Dec x5212 Feb 85 Sept 9612 June 85 Mch ___ _ 70 68 14 76 73 55 3612 J an 95 July July Mch Mch July July 61 61 59 60J2 31 151s 1212 June 89 Dec Jan Oct Feb Dec Dec Dec Jan 76 Aug 765g Aug 74 April 75 May 5114 Feb 291s Feb 217s Feb 9912 July 1872 to 1877, inclusive. DESCRIPTION. Compiled from Prices Bid. Alabama-5s, 1886--- ------8s ot 1888---------- -----Arkansas-6s, fund _________ 7s , Little Rock & Ft. Smith California-7s _____ _________ Connecticut--6s ____________ Georgia-6s ________ _______ 7s, new _____________ __ ___ Illlnols-6s, 1879, coupon ____ Kentucky-6s ------ ---- --Louisiana-6s, Levee ___ _____ 7s , consol ________ ________ Micbigan-6s, 1883 __________ Misso uri-6s, long _____ ______ New York-6s, bounty, coup_ North Carolina, 6s, old, J. & J. es, new, J. & J __ _________ 6s, special tax ____________ Ohio-6s. 1886 _____________ Rhode lsland-6s ___________ South Carollna-6s- _________ 68, J . & J _____ __________ _ 6s, A. & o _____ __________ Tennessee-6s, old __________ 6s, new _______ _________ __ Virginla.-6s , old ___ _________ 6s, consoL ____ ___________ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1872. Lowest. 1874. 1873 . Highest. Lowest. Highest . Lowest. ---- ------ - - - - ------ - - - - 55 80 40 50 109 98 70 84 ---95 50 - ---9178 10534 301s 15 10 6212 May Jan 90 5712 June Feb 60 115 June 10212 Dec Jan 77 May 90 --- - - - - - --- Jan 101 July Oct 6712 April Mch Aug Nov Aug Sept Jan Jan Feb ---- ---- -- -sei>t -9112 June Oct May J an Oct 109 38 14 23 16 May Mch Mch Mch - --- ---- ---- --- Jan 99 40 April 23 Sept Jan 22 635s Jan 63 5s Jan 42 July 5012 July 45 45 25 15 101 97 59 70 85 95 50 - -- 85 85 103 20 14 5 99 98 22 8 19 6312 62 14 32 10212 June 56 July Mch 39 36 April 80 12 Dec 80 1s Dec 561g Feb Mch 44 59 July Aug June Nov Dec Oct Nov Nov Nov J an Jan - -- Nov Oct Nov Oct Dec Nov Nov May Nov Nov Mch Nov Nov Oct Oct 57 82 40 27 116 10234 82 91 99 100 55 ---98 J an Feb Feb July June June May May July Aug Aug --- - May 9634 June 108 June 3312 Jan Jan 19 1712 June 107 April Mch 101 Jan 40 2212 Jan 28 April 8434 Mch Mch 85 Feb 47 5614 Mell J an 25 40 April 8 Sept Aug 5 Jan 110 Jan 97 Jan 65 Jan 82 Jan 95 9712 July 15 June -- -- - - - 94 J an 9212 Aug 10312 Jan 18 June Aug 10 5 Sept Jan 100 Jan 97 20 April 6 12 Jan Feb 12 Oct 67 Oct 67 28 June 4912 J a n 1875. Highest. 39 45 35 23 114 106 80 92 10212 102 28 Dec July .Mcb Jan Nov Dec Dec Dec June Nov Nov 25 25 20 8 105 103 80 8812 99 100 25 104 9834 110 29 2112 11 12 10612 105 30 31 30 9112 9112 42 58 Dec May Jan Mch Feb May Dec Nov Dec Dec Mch Mch Jan Dec 101 947g 1051s 15 7 1 103 102 26 27 26 62 62 30 55 - --- -Dec --- --- - Dec Dec Jan Mch Jan Jan Jan Jan J an Jan Jan Lowest. Highest . ---- - - - - - - - Jan 4112 Jan 26 Jan 42 April 26 Dec 25 June 38 3· · Dec 17 June 117 May - --- - -- Dec 105 Jan 110 Aug 96 Sept 91 D ec 10oss Jan 104 Dec 100 July 104 Dec 100 July 104 Dec D ec 37 40 5212 Dec Aug 103 10712 10234 June 10134 Jan 109 June 102 July Jan 13 Sept 27 Jan 5 Oct 16 434 May 34 Aug 10814 Sept 105 J an Jan Oct 105 108 35 12 Dec 30 June 35 July 30 June 35 12 Dec 30 June Jan 4012 Dec 78 Dec 77 1s J an 40 401 2 Oct 22 Sept May D ec 73 76 -Jan Jan Jan Dec Dec Aug J an Jan Sept Aug Sept Feb Feb Feb Jan 1876. Highest. Lowest. -oct 1877. Lowest. Nov 32 April 32 Feb 15 Feb 2 - --- - --- - - - Nov 106 113 Mch 93 97 10712 June 103 Dec 100 104 10414 Jan 100 46 May 35 6012 Jun e 50 107 April 101 1083s Sept 10414 1053g May 101 1812 Nov 15 Jan 6 9 3 14 Feb 1 Aug 105 114 D ec 105 111 Nov 32 40 37½ Feb 30 3712 Feb 30 Aug 36 1s 49 Aug 35 49 Jan 30 37 7812 Nov 6212 35 34 4512 18 Jan Jan July Aug --- Oct Feb Jan Jan Jan Jan Jan July Jan Jan Oct Oct Aug Oct Oct Jan Aug Aug Dec Dec Jan Dec Highest. 43 43 30 10 ---Nov Nov Jan Jan ---- - -- June 113 1027s July 109 14 Mch 10312 Dec Nov 107 Dec 56 8812 May 107 June 1087s 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 34 312 June STATE SECURITIES. 67 1878 to 1883 , inclusive . ' 1878 -- DESCRIPTION. Compiled from Prices Bid. 1879. 1881. 1880. ---Highest. Lowest. L owest. Highest. Highest. Lowest. Lowest. Highest. ---- - - - - ------ ------ ------ ------ - - - - ---Aug 53 Alabama-Class A, 3-5s, 1906 - - - Dec 5412 Jan 7312 Dec 71 Mch 8114 Dec 44 -nee -Ja:ii -2612 Arkansas 6s, fund-1899-1900 15 Jan 10 April 21 Dec 20 Jan 39 Dec 5 April 20 7s, various railroad issues __ Connecticut 6s _______ 1883-84 Georgia 6s ____________ 1886 7s, new _____ _________ 1886 7s, gold _____ _________ 1890 Louisiana 7s, consoL ____ l914 Michigan 6s __________ --1883 7s ________________ __-1890 Missouri 6s __________ 1882-83 68 - - - -- _- - - -- _-- - - _1889-90 Funding bonds ____ -1894-95 Hannibal & St. Joseph_l887 New York 6s ___________ l887 6s, loan ____ ________ __ 1883 Gs, loan _____________ -1892 North Carolina 6s , old_l886-98 N . C. RR _________ l883-4-5 7s, coupons off ___ do Funding Act _______ l868-98 New bonds ________ 1892-98 Special tax, class L _______ Consol, 45 ____________ 1910 Ohio 6s ________________ l881 68 ___ ---- - _----- -- _- -1886 Rhode Island 68, COUP-1893-99 S outh Carolina 6s, Act Mch. 23 1869, non-funding _____ l888 Brown consol. 6s ____ __J893 Tennessee 6s, old ____ 1890-2-8 6s, new _______ l 892-98-1900 Virgin ia 6s, old _____________ 6s consoL ________________ 6s deterred __ __________ . _. - - -- ·--- DESCRIPTION . Compited jrom Prices Bid. Dec 2 Jan 105 96 14 Feb 10412 Jan 105 12 Feb 6934 Dec Jan 101 108 May July 101 10212 Aug 104 Sept 100 April 113 July - -- 11514 Jan 1414 July Feb 65 Mch 45 Aug 8 Jan 7 Jan 2 - - - - - -- Dec 102 Jan 105 Jan 105 Jan 6 109 April 1025s July Dec 110 Dec 109 8412 Feb Dec 106 Oct 115 10434 Dec 107 Jun e 109 June 10614 June 115 June ---Nov 124 191s Dec Dec 85 Dec 65 11¾ Dec Dec 11 212April - -- - - -- 106 May 111 Dec 11712 May Feb 278 May 34 - -- 30 251g 20 66 4 Mch 814 May 1 104 April 109 June 99 Sept 1027s July Jan 114 · Dec 107 Jan 113 June 107 3614 Aug 6712 Jan 10112 Jan 10612 June Jan 100 July 115 Aug 10512 June 101 10312 Aug 10812 June Jan 112 May 105 Jan 10714 June 102 Jan 106 June 110 Mch 110 June 106 Feb 117 Sept 121 Dec 17 12 Feb 28 Jan 111 Dec 85 Dec Jan 92 65 Mch 14 Jan 7 Feb 1512 Dec 8 Mch 5 Dec 1 - -- - --- - - --Jan 105 May 101 Oct 10534 Mch 115 Jan 116 May 110 1 -395s May Nov Nov 3712 Jan 30 24 Feb 25 June 31 May 74 Feb 75 75g Dec 514 Feb Feb 4 Oct Feb Mch Jan Jan Sept 41 3312 35 8G 8 14 Feb Oct Mch Oct May - -- - - - - - - -- - Aug 2 Aug 104 97 April Jan 107 109 April Aug 40 J an 102 J an 110 Jan 100 10512 Jan Jan 106 Jan 102 Jan 106 Dec 104 Dec 115 Jan 26 J an 110 Jan 90 912 Jan Jan 15 July 2 July 60 100 June J an 106 Jan 109 J an 2 --- 30 April 25 June Jan 18 J an 75 51? Jan -- -- 1212 10712 107 112 116 54 14 10514 118 105 11114 115 11 0 111 107 120 3214 115 95 1214 20 6 12 8312 10312 112 121 Dec Nov Dec Dec Dec Dec Nov Dec Nov Dec Nov Dec Oct Mch Nov Dec Mch Mch Dec Dec Jan Dec Oct June Dec April Aug Feb April April Jan Jan Jan July Jan Jan Jan Jan Dec l]fi Jan Feb <l~ J an 115 Jan 90 Dec 10 Dec 20 Jan 6 Oct 8" 100 14 Jan Dec 107 114 July 8 102 106 109 111 5314 102 114 102 10814 111 107 105 102 6 34 Jan Dec Dec Dec Dec Deo 41? Jan 1234 Nov 45 45 30 104 1212 Jan Jan Jan Jan Feb Highest. Lowest. H ·ighest. Lowest. 78 June 777s June May 40 121 May --~~~4_Ap::!_J 4 41 40 2612 80 10 July June Dec Dec .Tune Mch June -- Highest. Lowest. Highest. --- ------ 10 14 105 77 3s 77 14 36 100 175s Jan Dec J an Jan Feb July Jan 212 100 30 30 30 50 6 May July July July May Mch Oct 1888. 1887. 1886. L owest. Lowest. ---- - -- - - - - - 10212 Au~ 10612 Dec 100 50 487g 32 105 1714 1883. Highest. 79 Sept 8512 Dec 80 July 84 Jan Mch 3712 Jan 10 Mch 28 20 Jan Aug 7 Nov 5 June 35 40 Oct 68 Feb Mch 103 Jan 100 106 July 100 Jan 103 June Aug 109 Jan 102 April 10712 Jan 113 June 103 114 June 105 Aug 11012April 10312 July 107 May 11912 June 11212 Aug 11712 Mch 112 Aug 11612 June 69 Dec 63 April 7112 July 63 Aplil 7512 Nov 105 Sept 100 J uly 104 Aug ----- -- - - -122 Oct 110 Jan 120 June 114 Feb 118 Jan Dec 100 Jan 103 108 .July 100 Jan 103 Jan J an 115 June 109 July 113 June 117 April 109 May 113 July 120 Nov 116 119 Feb 121 June Jan 10912 Dec 108 113 May 100 Jan 11012 April 11212 May 108 Oct 112 June 107 Jan 110 April 110 April 101 June 105 June - --- - -- - - - - - - -- 122 July 119 June 121 Feb 113 April 120 Jan Oct 20 July 3012 Nov 28 40 Jan 32 Mch Aug 120 July 156 Nov 155 Jan 160 July 150 Aug 130 130 July 100 July 130 Jan 135 July Nov 8 June 11 Jan 10 Jan 11 April 16 Jan 15 28 April 1212 June 20 Jan 16 April 934 April 5 June 8 Jan 4 July 8 34 Jan Jan 7712 Feb 82 12 Dec 89 June 75 Sept 82 10212 June - --- -- -- - -- ... - -- - - --Feb 11.2 June 106 -Feb io9i2 Mch 115 June 106 Feb 110 J an 120 Feb 115 120 Jan 118 May 1884 to 1889, mc1us1ve . 1885. 1884. 1882. Lowest. Highest. Lowest. 6 12 10434 4412 44 40 8212 Jan Dec Feb Feb May Jan ~ 1889. Highest. Lowest. Highest. ---- ------ ------ ------ ------ ------ ------ ------ ------ - - - - - - ------ ------ Alabama-Class A, 3 to 5,1906 78 Sept 83 Dec 8112 J an 101 Dec 102 Sept 1087g Apr 10312 July 10612 Jan 102 12 Jan 10712 JUDE Dec 97 Jan 108 Class A, smalL ___________ 78 Aug 100 July 108 Aug 81 Dec 97 Mch 102 July 108 Ma:i, J an 80 Jan 105 Dec 10312 Oct 106 Jan 101 Class B, 5s _______ ____ l 906 97 12 Jan 10212 April 99 Oct 11212 June Jan 108 Jan 107 J an 110 Mch 107 July 110 Dec 103 Sept 114 Dec 105 Class C, 4s ______ _____ l 906 75 Jan 97 Jan 10212 April 98 Dec 95 Jan 103 12 Aug 98 Sept 105 Mch 100 Oct 102 June Oct 82,;s Dec 8 1 68, 10-20 ____________ _1:)00 100 May 105 J a n 107 Mch 104 June 100 July 103 Feb Mch 104 J an 104 Oct 10712 Mch 100 Sept 106 Oct 100 Arkansas-6s, fund_ 1899-hl0ll Dec May 11 12 Dec 10 Mcb 14 J a n 912 Oct 5 Jan 11 April 3 April 11 12 Nov 5 Mch 3 Oct 16 1 7s , L. ll. &Ft. S . issue _____ J a n 22 Dec 16 Jan Jan 12 Dec 35 July 5 Jan 8 Sept 12 Feb 10 Mch 26 Oct 28 5 Sept 25 7s, Me.nptlis & Little Rocle Jan May 5 J an 19 Mch 20 Jan 13 Jan 27 J an 8 Sept 12 Feb 10 Oct 27' Dec 20 5 Sept 25 7s, L. R. J:'. B. & N . Q _____ J an Jan 20 Mch 25 Dec 34 April 5 Feb 8 Sept 12 Feb 10 Jan 12 12 Nov 2712 Dec 17 5 Sept 24 7s, Miss. 0. & R. R ________ Jan Jan 2112 Jan 12 Mch 20 Nov 34 April 5 J an 8 Sept 12 Nov 21 April 18 5 Sept 24 34 Feb 10 7s, Ark. Central RR _______ l\Iay 8 June J an 8 Oct 5 July 8 Jan 12 April 3 Aprll 7 12 Nov 5 Feb 7 2 1 July 9 34 Feb Feb 103 June 100 Georgia-6s ___ ________ l 88G 98 Sept 104 April 100 Feb 10212 July ---- - -- - - - -- -- - - - -- - - - - - - - - - ---- ---- - - - - - - -- - - -7s , new bonds ________ l 886 100 May 10612 May 101 J an 10512 June 10012 Jan 102 12 Mch - -- - - -- - - - - - - - - - --- - - -- - - --- - - - - ---- -- -- ---- - - - 7s, endorsed ___ _______ 1886 100 May 10612 May 101 Jan 10512 .June 10012 Jan 102 12 Mch --- - - --- ---- - - - - - -- - -- - - - -- - ---- -- -- - -- - - - - - - - - 7s, gold bonds ________ 1890 107 Jan Nov 109 Mch 101 14 Oct 105 Mch 109 12 Jan 11414 Oct 108 12 Dec 114 Jan 103 July 106 Feb 104 Oct 115 Loulslan a-7s, con.soL ___ 1914 6514 June 78 Jan Nov 105 May 109 Jan 87 Jan 109 Jan 102 Feb 73 Oct 100 Nov 93 D ec 84 J a n 94 Jan 86 Feb 9412 Dec Stamped 45 ___ ----------- ---- ---- - - - Feb 8234 Nov- 79 14 J a n 923s Mch 88 July 93 63 Sept 7512 Dec 67 7s, s:nall bonds ___________ 62 Feb 9112 Dec Feb 84 Aug 67 Feb 89 April 86 July 90 Oct 75 Nov 80 July 72 -Feti 65 Jan 78 Ex matured coupon ___ __ 56 Aug - - -- - - - - - - - - - --- ---- - - - - ---- ---- ---- ---- - - - - - - - - -- -- - - -- - - - - - --Jan 68 July 68 12 Feb 60 Mlclligan-7s _______ ____ 1890 110 July 118 )1:ay Jan 107 May 115 J an 105 Feb 106 Nov 109 Feb 108 Oct 105 Jan 105 Oct 108 Nov 11 2 Mlssouri-6s , due 1886- ______ 100 July 106 12 May 101 J an 10434 June 100 Nov - - - - - - - - - -- - ---- - - - - ----· - - -- -- - - - - - - ---- - --- - - - J an 102 6S _-- - -- -- - _________ 1887 100 July 108 April 103 Jan 10212 May ---- ---- --- - - --- - -- - -- - - - --- - -- J an 10712 June 102 Jan 10412 May 100 6S - --.- - _ - ___________ 1888 103 July 10912 April 103 J an 103 12 Mch 100 J a n 109 June 103 12 Aug 1061:) May 100 J an 10212 June - - - - - - - - - - - - - - -Os ___- _- _______ __1889-:)0 105 July 111 Dec J:.1.n 103 J an 105 12 J a n 113 June 107 Mch 104 July 1071 2 Feb 101 Aug 10312 May 100 Jan 110 Mch Asylu:n or Univ ______ _1892 107 July 115 Feb 108 Nov 112 J an 102 May 107 Jan 10312 July 107 J a n 117 Jun e 110 Mch 108 J an 113 Feb 11212 Mch Jan 104 Mch 108 Funding bonds _____ 1894-95 111 Oct 115 Mch 112 J an 106 J an 122 June 115 Jan 119 July 110 July 118 HannibJ.l & St. Jo _____ 1886 108 May 11012 Mch 102 July 123 April 100 July 104 April ---- ---- - - - ---- ---- - - - - - - - - ---- - -- - - - - - - - - Jan ---- ---- - --- ---- - - - - ---- - --- - - - Hannibal & St. Jo _____1887 108 Jan 101 July 104 April 100 May 110 12 Mch 102 July 123 April 101 Feb 102 Feb 103 July 107 Oct 104 April 100 July 103 June --- - - - - - -- - - ---- ---- -- -- - - - - - - - New York-6s. gold, r eg_ l 887 105 Sept 109 6s, gold coupon _______ 1887 105 Sept l0'.P2 Jan 103 July 107 Feb 102 Oct 104 April 100 July 103 June ---- - - -- -- - - - - - - -- - - -- - - -- -- - - -6s, loan ______________ 1891 111 .Jan - -- - ---- --- - - - - Nov 107 July 112 Aug 110 July 113 July 115 Sept 110 July 118 12 Dec 110 Sept 115 6s, loan __________ ____ 1892 115 Mch D c 111 J an l0G Jan 107 Aug 112 July 115 Oct 115 J an 113 July 122 Dec 112 April 120 J an 116 6s, loa n ______________ 1893 117 Dec 11114 Mch Jan 106 Jan 108 Aug 115 July 118 Oct 113 Dec 115 April 122 May 115 July 124 Jan 120 Kov Feb 38 Mch 30 Jan 35 J an 36 May 30 Jan 35 J a n 31 J an 361:! Mch 35 No. Carolina-6s old_ 1886-98 2712 June 3212 May 30 6s.old ,A. &O ____________ 2712 June 3212 May 30 Feb 37 May Mch 30 Jan 35 Jan 36 May 30 J an 35 .Jan 31 J a n 36 12 Mch 35 May May l W Jan 150 Aug 170 Jan 150 N. Car. RR _______ l 883-4-5 160 Jan 170 Jan 165 Mch 170 J a n 165 J an 160 Jan 175 Jan 160 May Jan 1,';0 Jan 140 Aug 140 Nov 80 Mch 140 Jan 145 J an 135 J a n 135 Jan 135 J an 135 Jan 145 N. Car . RR., 7s, coupon ofL 135 May Jan 150 .May le0 Aug 170 N. Car. RR., A. & Q _ _____ 160 Jan 150 Mch 170 J a n 165 J an 170 J an 165 J a n 160 J an 160 J an 175 May Jan 140 .Ja n 150 Aug 140 Jan 145 Nov 80 J an 135 Mch 140 J an 135 J an 130 Jan 135 J an 145 N. C!Lr. HR., 7s, coupon ofL 135 Jan 13 12 May Jan 10 May 10 Aug 1212 May 10 Jan 11 Jan 10 F unjln'l' Act_ ____ 1866-1900 8 Jan 13 12 Mch 10 Oct 121g May 10 Jan 13 12 May Jan 10 J a n 10 May 10 Aug 1212 April 10 .Jan 11 .f'unJi n<s Act _____ 1868-1898 8 J an 13 12 Mch 10 Oct 121g May 10 May 20 J an Jan 15 Aug 20 Aug 20 J an 15 J an 21 Mch 15 Sept 22 Jan 23 Aug 19 12 May 18 New b onjs, J. & J __ 1892-98 15 Jan May 20 Jan 15 Aug 20 New bonds , A. &O _____ ___ 15 Jan 15 Aug 20 Jan 21 Mch 15 Sept 22 AU<( 19 14 May 18 Jan 23 Ch1,th'.lm RR _____________ Jan Nov 8 Dec 4 Feb 8 Dec 5 Sept 13 J an 7 Oct Feb 2 7 Sept 15 April 6 1 May 3 Jan Aug 10 Feb 5 Nov 11 Dec 8 Dec 1612 June 6 J an 8 Mch 2 Jan 14 5s Nov 8 4 Speci'.11 tax, class L _1898-99 1 111::ty Jan Feb 10 Feb 6 Nov 1612 June 71:) Oct 11 Special t::tx:, c!J.ss 2 ________ Aug 10 12 Oct 10 1 May 3 34 Aug 212 J a n 4 12 Dec 10 Jan Ju ly IO Feb 5 Oct 11 Dec 1612 June 6 8 l:,pecial tax railroad issues __ 1 May 3 12 Aug 2 12 Jan 4 12 Feb - - - - - - - - ---J an 12312 Aug 122 April 127 June Dec 125~4 Mch 118 Jan 129 117 Gs - ----- - -----------1919 102 June 108 Sept 105 34 Jan 115 12 Dec 115 J an 99 June Jan 91 ()on.sol. -1s ____________ 1910 75 Sept 84 14 April 8 1 Nov 96 Dec 100 12 Jan 91 J an 9112 Dec 88 12 Jan. 10034 Dec 94 May Small bonds ______________ 78 Jan 96 Jan 89 Jan 89 Nov 95 Dec 98 Aug 93 Dec 87 J a n 90 Mch 80 Jan 98 l\f'ly 82 Ohio-6s ________ ______ l 88G t04 July 108 April June J a n July 103 D ec 103 106 --lOl --- - -- - - - -- - - -- - ---- ---- ---- - - - - - - -- ---- -- - - -Mch Dec 111 Jan 105 Feb 115 Jan 106 Feb 120 Jan 125 June 118 July 124 July 115 Feb 110 Rhode I sland-6s, CP-1893-98 uo Sept 122 8outh Car.-6s ,Act Mch. 231 D ec 334 April 1 Jan Aug 5 5 May Jan 612. Oct 5 2 7 4 Dec 5 Sept 734 April 3 1 June 3 12 Mch 1869, non-tund. 1888- __ I Jan 107 May 101 Sept 106 June Brown con.sol. 6s ___ ___ 1893 100 July 107 Dec 10412 J an 10912 Sept 104 Sept 11012 Nov 104 July 10912 Mch 104 1 Aug 6834 Sept Dec Mch 63 64 Jan Oct 57 Dec Nov Jan J an 5212 65 2 6512 57 53 T ennessee-6s, old __- 1890-2-~ 35 June 435s April 42 Aug G83.i Sept Dec 63 Mch 64 Oct 65 12 Jan 57 Jan 6512 Dec 57 Mch 413.i Jan 5212 Nov 53 tis, n ew b'mds_ 1892-98-1900 35 June 43 Aug fi83.i Sept Dec ()3 Mch 64 6s, new series _________ 1914. 35 June 4234 April 41 34 Jan 5212 Nov 53 Oct 65 12 Jan 57 Jan 65 12 Dec 57 Dec 73 12 Jan 781:? Sept 1 Mch 73 Oct 76 14 Feb 67 Jan 75 2 D ec 67 Jan 61 14 Dec 62 J an 49 April 48 Co'Tlpromise, 3-4-5-6s __ 1912 41 Dec Jan 110 Jan 105 May 102 Nov l0(P2 Feb 97 Aug 109 Dec 100 New settlement, 6s ____ 1913 - - - - - - - - - - - - ---- -- - - --- - --- - - --- 103 Jan 105 June Feb 9912 D ec 100 Mch 90 J an 103 Aug 100 New settle"ll ent, 5s ____ l91 3 - - - - - - - - - - - - ---- - - -- - - - - --- - - --- 100 July 102 Jan 7614 June Dec 71 Mch 73 Aug 68 Sept 78 12 Mell 68 New settlement, 3s ____ l913 - - - - - --- ---- -- - - --- - ---- - -- - ---- 7112 .June 80 .Jan Jan 48 Aug 50 Oct 48 Virginh--6"1, old __________ __ 33 Jan 40 Jan 48 July 47 Jan 47 Nov 42 .Jan 45 July 40 Jan 37 Jan Jan 48 Aug 50 Oct 48 Jan 40 Jan 48 Gs. new bonds _____ ___ 1866 33 Nov 42 Jan 47 July 47 Jan 45 J an 37 July 40 Jan Jan 48 Aug 50 Oct 48 Jan 40 July 47 Jan 48 6s, new bonds __ ____ __18G7 33 .Jan 47 NOY 42 Jan 45 July 40 J an 37 Feb July 70 Apr 75 J an 50 J an 65 Dec 95 68, CO!t~0l. bonds __________ 45 Mch 75 Nov 80 J a n 100 Jan 85 Jan 50 July 65 Jan 4.2 .June J an 32 Jan 32 J une 40 Dec 53 F eb 41 Nov 50 J an 60 J an 55 Jul y 42 J an 37 6s, ex: m·itured coupons ____ 30 Jan May 50 J an 35 Dec 50 April 60 J an 69 July 60 June 65 Jan 60 6~. consol.. 2d series _______ 40 July 55 Dec 60 Dec 50 1 J an 812 Sept J an Oct 1 7 Jan Dec 5 6s . deferred bonds _________ 8 2 15 Mch Anrll Nov 7 1334 Oct Jan June 9 4 9 13 4 4 Aug 1012 Jan Nov 7 Mch 10 Feb 7 Trust receipts ________ ____ Mell 1334 Nov 8 Sept 16 Dec 13 Oct 9 10 ---- - - - Feb 124 June Dec 120 F eb 122 Or,t 115 12 Dec 122 June 116 J ,in 120 .July 116 Di~t. or c:01.-:u,c,,;. cp., 1'!24 106 Julv 114 Aori, 11 212 Feb llll Nov 110 June Dec 106 Mch 109 .hn 1 l ? I~ Jnlv 104 Feb 100 .f1n 111)1 , J~n 110 D ec 109 Mr,h 10!l .1111'1 112 y,.., ,1;,,~ "~- '"'''Tl __ __l l<Q'l 10,5 sept 1896 to 1901, mclus1ve. DESCRIPTION. Compiled from Sale Prices . Alabama-Class A, 4 to 5,1906 Class A , smalL _______ l 906 Class B, 55 ___________ 1906 Class C, 45 ___________ 1906 Currency funding 45 __ _1920 Arkansas-6s "Holford" _____ Dist. of Col.-cp. 3.65s __ 1924 Loulsi:ma-New consol. 4s_ _ _ Consol. 4s, smalL _ _ _ __ _ _ _ _ No. Carolina-Consol. 4s- 1910 6s ----- --------- ---- 1919 Special tax, Western RR___ Special tax, Class L ____ ___ 30 2 N~~~1~i~t-is~~~~·-=~ Tennessee-Newsettlement3s ___ __l913 Small _________________ Vlrglni1.-Functed debt. 2-3s __ 6s, deferred tr. r ec. stamped ~=~=~~ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis H ighest. L owr-;st. Highest. Lowest. ------ - ----- ------ - - - - -- -----1011 2 Nov 109 Jan 1051s July 108 12 Sept ___ __ ___ _____ ___ ______ ____ __ -- - 100 Aug 100 Aug 10434 July 1073-J June 931 2 Oct 100 April 9812 Feb 100 April 94 Sept 10012 April---- ---- ---- ---37s May 37g May - --- - - -- -- -- ---_ _ _ _ _ _ _ _ _ _ _ _ _ ___ - _- - - - - - - - - - - - - 9012 Sept 9914 Feb 93 Sept 10014 Nov _ __ _ _ _ _ _ __ _ _ _ _ _ _ _ _ - _ - - - - - - - - - - - 102 Jan 1055s June 10312 Jul y 10512 June 116 Oct 124 April 127 June 127 June 34 Dec 34 Dec---I3s June 17s April - - - -- i74 81 55 4 -Jan - -i12 10812 105 1051s 98 ------ 115 100 98 101 128 Mch Aug Aug Aug June May Mch Jan Feb __ ___ ------ ---- - - - - - - ______ ,____,__ Highest. Lowest. Highest. Lowest. H ighest. Lowest. ,.. Oct 113 June 10812 J a n 1161s Mch 108 109 108 108 104 May Mch Sept Dec 118 106ls 10012 104 128 Dec____ _ ___ Nov 10834 Jan 110 April Mch 10912 Feb 10912 Feb Nov 108 April 108 April Feb _ _ _ _ 107 __ _ _ ___ _ ___ _ 121 April 10612 July --- - ---105 Oct 0 ---May 98 May 9412 April 8312 9 12 Feb Dec 94 Nov 9312 Dec 8212 Aug 5 34 H ighest. Aug 10912 April __ __ 10914 Oct 10914 Oct ___ _ __ __ 102 Jan 10234 Sept 102 Feb 10312 Mch Aug 109 Aug ---- ---- - --- - --- ---- 109 May---- Aug 8812 Feb 76 April 9214 Dec 87 Feb 8 1 Feb 72 Feb 9112 D ec 87 Au~ 6214 April 61 Jan 70 D ec 65 July 712 Nov 312 June 65s Jan 412 1901. 1900. 1899. 1898. 1897. 1896 . L owLSt. Dec 99 Nov 95 Jan 8734 Dec 9 120 121 April 108 Aug ---- ---10634 May _ ___ Mcii 120 125 April 10612 Aug --- 105 Feb 135 Mch 126 109 July April 10614 Nov 13612 Mch Mch -- -- June 93 5s Sept, 965s June 95 J an 91 J ani 965i; June 9412 J an 963s Dec !)312 Sept 85 Dec 10 Mch 714 Mch 6 June Sept June July 9934 96 9834 10 34 May Feb Nov Mcb STATE SECURITIES. 68 1890 to 1895, inclusive. DESCRIPTION. 1890. 1891. 1892. 1893. 1894 . 1895. 1890 Compiled fro m Prices Bid; i- - - - - - - - - 1 - - - - - - - - - 1· - - - - - - - - 1- - - - -- - - - 1 - - - - - - - - - 1 - - - - - - - · 1891 to l8J5 from sales. ~~~ HirJ_~~ ~11}~·- Hiu!!_~ ~11}~ Highest . ~11}:!!:_ Hi~~~ H_iuhest. HirJ_~~-:_ Alabama-Class A, 4 to 5,1906 103 Nov 108 July 100 Sept 104 Feb 100 Sept 105 June 95 Sept 10314 April 9712 Feb 1045g Dec 10312 Jan 10912 Oct Aug 102 Aug ________________ 10234 Dec 10234 Dec ___ _ Class A, smalL _______ l906 ____ ---- ____ ---- 102 Class B, 5s ___ ____ __ __ l906 110 July 110 July 105 34 July 10814 Mch 104 Feb 10712 June 100 Nov l0(i12 Jan 98 Jan 104 Sept 10812 Sept 11012 Dec Class C, 4s ___________ l906 10234 June 102 34 June---- ---- ---- ---- 94 Feb 97 Aug 9012 Oct 947s June 9334 . Jan 9334 Jan 10014 Sept 10114 Dec Currency funding 4s ___ l920 10534 Dec 108 April 95 Sept. 9714 Dec 9514 J an 977g June 89 Sept 9313 Nov 92 Aug 93 June ___ _ Arkansas-6s , "Holford"____ 17 Feb 17 Feb 7 May 7 May 7 Nov 914 Oct 10 Oct . 10 Oct 8 Mch 912 Feb ___ _ 7s, L. R. & Ft. S . issue_ ____ 8 Dec 9 Oct 6 Sept 6 Sept 9 Aug 22 Oct 6 Dec 6 Dec ___ _ 7s,L.R.P.B.&N.o _____ 7 April 7 April 412 Sept. 418 Sept 51, Aug 20 Oct 8 Sept 17 Jan 6 June 12 Mch 8 June 9 June Mch ___ _ 7s, Miss. 0. & Red River ___ ---6 - Aug 2112 Oct 10 Oct 12 Oct 7 J une 11 7s, Memphis & L . R_______ 512 May 512 May ____ ---- ________ 10 Aug 1012 Sept ___ _ 7s,CentralRR ___________ 7 Oct 7 Oct ____ ---- ___ _ ____ 6 Nov 834 Oct ___ _ Funding 6s, "Non-Holford" ____ ---- - - - - ---- 156 Oct 156 Oct ____ ________ _______ _ Dist. of Col.-cp . 3-65s __ l924 ____ ---- 111 June 11512 J une 11112 Feb 11412 J a n ___ _ Registered __________ ____ _ 11912 A ug 12212 April 11312 Dec 11312 Dec ___________ _ 1 12 1 =~=~ i8 - 85 - July -9312 -Feb -8434 Apri-1 -98- Dec 92 Sept 98 J an 95 8i14 J an 9712 June ___ _ Conso l. 4s, smalL _____ ___ _ 86 Oct 9534April 86 Mch 91 Jan ___ _ Consol. 4s, stamped _____ _____ _ ---- 97 June 97 June ___ _ New consol. 4s--~--------- ___ _ ---- 97 June 97 June 9212 Mch 10012 Dec Nov ___ _ Missouri-Funding bonds _______ _ Nov 105 - --- 105 Asylum and Univ _____ l892 106 May 10612 May ___ _ New York City and County12 34 12 No~0~~~r~W~~~g;a~i~~~1J=~ Apri-1 April --312 --478 Oct --- West. No. Car. RR. , 6s ________ ---- ---- ____ 4 Mch 514 Aug ___ _ Speci:ll t a x, railroad issues--• 7 Aug 912 Jan 5 Jan 5 J a n ___ _ _______ _ Trust receipts __________ 414April 11 J an 5lgApril 6 J an 3 April 514 Oct ___ _ Special tax, Western RR ______________ _ -Feb --334 Sept---- - -- - ---3 Dec ___ _ ---- ____ ____ 12 Dec 12 Dec Special tax, Class L------6 Mar ti Mch ___ _ 4 Dec 4 Class 2 _____ ___________ ___________ _ Aug !'__ _ 312April 312April ___ _ ---31s Aug 4 Class3 ____ ___________ _ 412.lfpril 11 Jan 5 April 5 April __ _ _ J a n 101 Consol. 45 ___ ____ ____ _1910 9534 Mch 100 July 96 Nov 100 iiiii- iii2103- Aug 106 Nov May 97 Jan 10012 Aug 94 Small _________ ___ _191!1 97 Feb 97 Feb 91 Feb 99 Feb -- ---- - ________________ 98 Mch 97 F eb 97 Oct 98 Oct 6s ______________ ___ _1919 118 Dec 128 July 12312 Aug 124 April 122 Ma y 12512 Feb 115 Sept 127 Jan 127 Feb Mch 12112 May 1261s Aug 124 New 6s __________ _____________ _ ---- ________ ___ _ - --- 10814 Oct 10814 Oct____ Fundin~ Act of 1866--- -- - 10 Oct 10 Oct ____ _______ _ - - - - 1012 Oct 1012 Oct ____ ---- __ __ ---- ____ ---- ___ _ So. Carolina-Non-fund. 6s__ _ 31g Mch 534 J an 214 Nov 3 112 April 5 Dec 2 ii:cii D ec Oct 112 .June 212 Jan 112 Jan 27g Dec _ _ _ _ _ _ _ _ _ _ _ _ _ __ _ Brown copsol. 6s __________ 100 Oct 104 June 96 Oct 9812 Dec 9412 Feb 9812 Oct _• _ _ 20-40 , 412s __ _________ 1933 ___ _ Nov Nov 108 T e nnesseeNewsettlement6s _____ 1913 10112 Dec 110 Mch 101 Ma1; 10612 Dec 10118 Aug 10712April 100 Sept 107 Oct 103 Jan 107 J an - -- May 106 June 103 Aug 103 Small--- --- ----------- 108 June 108 June 101 Aug - - - Newscttlement5s _____ l91 3 101 Oct 105 Feb 99 Nov 10214 Ma y 9912 Jan 10412 June 97 Sept 97 Sept 101 April 104 April - - - Small _____ ______ ___ ___ 102 Sept 10234 Sept 101 Feb 102 Dec Newsettlement3s _____ l913 68 J)ec 76 April 67 July 7178 Dec 68 Jan -9134 Jan 79 14 Aug 64 Aug 76:lg Mch 72 14 J a n 84 14 Dec 82 Small _______ __ ___ ____ _ 7112 Mch 73 June 66 Nov Nov 7034 Feb 6712 Jan 76 Mch 73 14 Mch 77 Sept 78 12 J an 85 Aug 71 Feb 74 Compromise 3-4-5-6s ____ l912 7312 Nov 83 June 74 Aug 74 Aug 75 Feb 75 Jan 74 Jan --- Feb 74 Redemption 4135 ______________ __ __ ___________ __ ___ ___ _ ___ __ _ Dec 106 , July - - - - 105 - - -Old 6s, 1890-2-8 __________ 6812 .Jan 6812 J a n ___ _ Vlrginia-6s, deferred bonds__ 10 July 10 July 8 June 912 -Jail - - 712 Oct 914 J a n ___ _ Stam ped ____ ___________ __ ___ _ ____ ____ ____ 7 May 834 Sept __ _ _ _ __ _ _ __ _ Trust receipts _ _ _ __ _ _ _ _ _ _ _ 7 May 113s June 514 Aug 914 Jan 812 Mch 914 Feb 4 June 4 June 5 J an 8l2April ________ - --- --- Trust receipts. stamped___ _ ____ 6 July 9 Jan 614 Dec 83s Jan 5 May 7 Jan 6 Jan 13 Dec 512 Dec 133s Jan Funded d ebt , 2-3s ___ _________ _ _ ___ 5134 Sept 573s Dec 5512 Jan 6114 Dec 5834 Feb 64 18 Sept Registered ____ ____________ _ ______ ______________ 521 July 6212 July 8 10-40s --------- --------- ___ _ ---- 40 Jan 40 Jan ~--"Riddlebergers" _____________ _ July 75 - - - - 75 6s cons:>!. bonds _ _ _ _ _ _ _ _ _ _ 63 Sept 53 Sept ___ _ ~ii:~-_ ~~~ 1~ii i~~I!l:i~~c!i~~/~~~~= ~ii:-~ --:s- ! --:s- }!~ ii! }!~ Sept Oct Ap~r1 May iuii 1902 to 1907, inclusive, 1902. DESCRIP1'lON. Compiled pom Sale Prices. L owest. 1903. · Hi{Jhesi. Lowest. 1904. H ighest. Lowest. 1905. HirJhest. Lowest. 1907. 1906. Highest. Alabama-Class A, 4 t o 5 __ 1906 10433 Sept 107 Jan ___ ____ ____ __ ___ 102 Aug 10234 May 10ll2 Jan 102 Class C, 4S- -------------1906102l2 Feb 10212 Mcb ____ ---- - --- ---- - --- ---- - --- ---- -- -Currency funding 4s ____ __ l920111 Mch 111 Mch ________________ _______ ____________ _ District or Columbia, 3.65s--1924 ___ _ _ ___ 121 Mch 121 Mch 11934 Oct 11934 Oct_ __ _ Louisiana-New consol, 4s-- 1914106 May 107 Aug106 April 106 April102I4 July 10512 Dec ___ _ New York CityCorporate stock, 412s __ ___ 1957 ___ _ ____ ___ _ ____ ____ __ __ ____ ____ ____ ____ ____ Assessment bonds, 412s -- 1917 ___ _ ____ ____ ___ _ ___ _ ____ ____ ____ ___ _ ____ ____ North Carolina-Consol. 4s--1910104 J a n 10412 Jan ____ _ _ _ _ __ _ _ _ ___ 101 July 10314 D ec 10234 Oct 10234 Special tax bonds _____ _______ 17s Oct 2 Nov 112 Dec 112 Dec ___ _ ___ _ ____ ____ ___ _ 1919, 6s _________________________ ______ ·_________________________________ ________________ Tennessee-New settlement 3s.'13 9512 Mcb 965s Feb 94 July 97 Jan 9514 Mch 9712 Dec 95 July 97 Small 3s _________ _______ ___ _ 94 June 95 Feb 9312 Oct 9414 May 95 Aug 9512 Dec _________ ___ Virginia-Funded d ebt 2-3s ____ 9514 May 9934 J a n 9312 Dec 95 Nov 9112 Mch 973s Dec 9634 June 9712 Registered 2-3S-------------_____ --__ --- -- --- ---"Riddleberger" bonds, 3s, 1932 ___ _____ ___ ___ -_ --____- ____ ____ --___ -_ __ ____ __ -__ -____ __ -__ --____- ____ ____ ---____ ---____ . Brown Bros. & Co. certificates !o.r d eferred certificates, 6s__ 714 J an 153s Oct 614 Oct 12 Jan 612 May 1612 Dec 10 April 2412 Lowest . Highest. Lowest. H ighest. D ec __ ______ " ---- -- 11712 June 118 June ___ _ _ ___ 1027s Sept _ ___ 10034 Nov July 10014 April ---- ---- ____ ____ 122 June 122 June 126 Mch May 9514 July 9634 July 9112 Oct ________________________ ---June 9412 Sept 9634 Jan 9314 May -----____ ---____ 90 -Dec Oct 101 Nov 20 July 101 Jan 30 Feb 20 10812 10414 101 ---126 96 ---9534 ---90 Dec Dec Feb Mell Mch Jan ---Dec Jan 3014 July 1908. BONDS Janvary February March April Ma y June J11ly Low Hi(lh Low H i?h Low Hir;h Lou• Hi.(Jh Low H i'lh Low Hir;h Low Ht(l 'I Dist . or Columbia 3 .ti5s ____ l924 ________________ .New York City-* Corporate stock 4½s.May 1957 105 10812 105ag 107 Ass't bonds 4½s ____ May 1917 1031210414 101 14 10312 (New) Corp. s tk.4 ½sNov. 1957 __ _ _ _ ___ 105 l07as (New)Ass't 4½s ____ Nov. 1917 ________ 102 1041g Corporate stoc k 4s __ Nov . 1958 ___ _ Assessment bonds 4s .Nov. 1918 ___ _ Corporate s t ock 4s __ May 1957 ___ _ N e w York State-* H ighway Imp. 4s ___ Mch. 1958 __ _ _ _ ___ T ennessee-New settlem't 3s.1913 ___ _ Virginia-Funded debt 2.3s __ _____ _ _ tis deterred B rown Bros. & Co. certificates ____ ____________ 2212 26 23 26 * For all __ _________________________ _ 1061R 10712 10134 103 10612 1077s l02 10314 109 \JO 27 107 10814 1021~ 103:Js 1Q(l5R 1073~ 10238 10312 10714 110 10312 10412 J 06~s 111 10312 10412 108 104 108 104 Auou, t ',OW ---- ·· --- ---- ---- --- - ---- ---- ---- ---- 110 ll0 1041 2 1091 ~ 10412 2012 371s 3612 43 110 10734 10438 L0 7o8 104 lO<Jl 4 109 ll 114 1103g 111.lg 111 11 2 1107R 11 25s 10438 104a8 10458 104 104J-1 103a8 10434 104 1043s lQ\)1 ~ 10914 lll'3g 110 34 11134 lll 112 111 11234 1041 ~ l 04 12 10434 _ _ _ _ _ ___ 10414 10434 104 10434 _ ______________ __ ________ ___ 10314 1031-1 ---- ---- --- - ---- ---- - --- ---- ---- ---- 1013410178 - -- - ---- ---- ---- ---- 1015g 1017g 1015g 1023810134 1031g 10!13.o L093g 10912 l093g 1(19! :_ 109331091? 1093810912 109 U5 96 !JG 95 95 _ _ __ 94 \JO ________________ 92 92 90 91 27 Septe:m.be'T October November December Hi ·h Low H .(lfl Low H irJh Low Hi'ih H ir,I: Low 110 38 ---- --- -· 11134 11212 10414 1C43s 112 1123g 10412 10412 1ovR 1oa1 8 10134 1017g 10234 10314 ___ _ 9J 39 37 43 45 New York City and New York State bonds buyer pays accrued Interest In addition to price Indicated. 1909. January 1''ebruary March A prtl May June July AU!JUSt September October November Decembe:r LQW H1.(Jh L<no Htgh L<no Htgh LQW Ht{}h LQW Htgh LQW Htgh Low Hi(Jh Low Hi{Jh Low High Low High Low Hi{Jh Low High BONDS. - - - - - - - - - - - - 1- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -· - - - - New York CityCorporate Stock312s __ ___________ Nov. 4s ______________ May 4s ______________ Nov. 4s reglstered _____ Nov. 4s ___ ______ ____ _May 4s reglstered ____ _May · 4s reglstered -- .. --Nov . 1955 ____ ---- __________ ___ ___________ . ___ __ ____________________ ___ ___ 195\i ---- ---- -- -- ---- ---- ---- ---- ---- --- - ---- 1007s 101 101 10112 101 10112 195810212103 1011210258 1015g 102 10134 10212101121023s 101 10134 1011 8 101121011 2 10134 1958 ____ --- - -- -- ______________ ___________ ___ 1013410134 ________ ___ _____ 19571 0212 10314 1011210234 1013410212 102 10212 102141023s 101 10134 ________ 1011410153 1957 ---- ---- ---- ---- ____ ____ ____ _ ___ 101 101 1956 ________________ 101 10114 _____________ _____ _____________ ____ _ ____ __________ ____________ __ 395 39:; 8 8 1007g 10112 99J41007g 1001410114 1003s 10034 101 1011 2 100 101 10038 1011 2 10038 10034 1011 2 1011 2 ____ _ 1011g 1015g 100 fof- 10034 Hffl4 lOOlz l-Ql-____ 1001 2 1001 2 1001 2 1001 2 ____ ___________________ ___ ___ __ _ 81 ioiiss f0().5g 10934 11038 -~~l~ 4 ½s ______ ____ __ May 1957 llliig 112141111211214111121117s 1111211212 1115g 11212 1111.t lll34 1111211214 1111 2 1121g 1103811118 1083g 1105g 1091411014 4½s _________ ___ Nqv. 1957 lll34 l1214 lllls 11214 111 112 1111~ 11212111341121211118112 111121123g 111121125s 11012 11114 1081411058 1091g 11012 1097g 11012 As!~m~'iffsltii~s~Nov. 1957 112 112 1111411114 1113g 11112 1117811214 ---- - --- ---- - --- - -- - ---- - - -- ----1101211034 ---- ---- 1101g 1101g 1101g 11014 !~ ~:~::~:~:L::=~~~: m~ ==== 4½s _________ ___ May 1917 4 ½ s ____________ Nov . 1917 4½s reglstered ___ Nov . 1917 New York StateHighway Impt . 4,; __ Mch . 1958 North Carolina-Consol. 4s _____ South Carollna-4½S------1933 rennessee-3s ____________ 1913 Virginia-Funded debt 2-3s _____ 6s deferred , Brown Bros. & Uo . certificates _______ _______ . ==== ==== ==== ==== ==== ==== ==== ==== ==== ==== == == ==== :::: ==== ==== ==== ==== ==== ==== 104 10412 104 1041s 10412 104 ____ ___ _ ____ ________ 1021410214 9512 9512 93 93 /. .<. 48 10438 1041410412 104 10414 1041s 10414 1041g 10414 1043s 1043s 1043310438 10434 10434 10478 10478 103 1031 2 10338 10~78 10412 1041410434 104(4104!4 1041410412 ___ ____ _ 1043g 10478 ____ ____ 10418 10478 1031 8 104 10234 1031 4 10338 103a8 _ ___ ________ 104<>s 104os ___ _ _ _ _ _ _ ___ 11234 11234 ___ _ 9958 9958 ___ _ ___________ _ 9534 9534 ____ __ __ __ _~ - :_:_:_: _:_:_ _ __ __ ____ 12 42 =~~~ 47 38 40 39 3 93 1 44 9114 9114 9112 93 48 43 45 4212 4212 4212 471 2 45 ------------- - --·---------------------------------------------- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD TRAFFIC PRICES. AND RAILWAY STATISTICS-STOCK AND BOND PRICES. THE GROWTH OF THE RAILROAD SYSTEM. In a very comprehensive article on pages 72 to 75 of this publication, we present an elaborate review of the course of earnings of United States railroads for the calendar year 1909, with the influences and conditions bearing upon the same. In the present article we aim to f~rnish, 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 of 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 mont hs after the close of the period before the complete report, with its extensive mass of details, is ready for public distribution, the latest full returns are for the twelve months ending June 30 1908. The statistics of the Government are now everywhere accepted as authoritative, and in the series of tables given below the figures are all derived from the yearly reports of the Commission, though we do · not always present them in the precise way in which Mr. Adams give them. There is just one table where the information has been derived from a different source. We refer to the table we are now about to give, showing the miles of new track laid each year. In that case the figures are taken from the annual volumes of Poor's Manual. In this way we get data covering the calendar year and are able to carry the comparisons back to the early · days of railroad history. The following is the table referred to. It indicates the new construction each year and the aggregate length of road at the end (Dec. 31) of the year. It will be noticed that the changes in total mileage from year to year do not agree with the additions through new construction. This is due to the fact that the Manual finds it necessary to make adju tments and corrections _of past mileage and to the further fact that some old mileage is abandoned from time to time. It is of course much too early to have Poor's figures for 1909, but, taking the new track laid in that year at 4,000 miles, there were on Jan. 1 1910, roughly, 236,000 miles of railroad in the country. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis • RAILROAD CONSTRUCTIO N YEA RL Y AND TOTAL MILEAGE IN OPE R ATIO N . Years. 1,.fttes in Miles of New Road Oper ati on Ena of Y ear. BuiU. 1830 ___ _._. 1831. •• -·· 183 2 •• •.••• 1833 ••••••• 1834.· - ·-- · 1835 • • •• - •• 1836 •••••.• 1837. •••••• 1838 ••••••• 1839 ••••••• 1840 •••.••• 1841 • • ••••• 1842 ••••••• 1843 ••••••• 1844 •••••.• 1845 •••• • •• 1846 ••••••• 1847 ••••••• 1848 ••••••• 1849 • • •• · · 1850 ••••••• 1851. ••• ...• 1852. -·. ·- .. 1853 •• · - -·· 1854 ••••••• 1855 ••••••• 1856.·--·-1851-----·1858·--·--· 11'159 _______ 11160 •••• ___ 1861. •••• ·1862 •• --·- · 1803 ••••••• 1864 ••••••• 1865 ••••••• 1861L •••• - 1867 ••••••• 1868 ••••••• 1869 ••••• . • ··12 134 151 253 465 17fi 224 416 389 516 717 401 159 192 256 297 668 398 1.369 1,656 1,061 1,926 2,452 1,360 1,654 3,642 2,487 2,465 1,821 1,846 6fil 834 1,050 7,'18 1,177 1,716 2,449 2,979 4,615 · 23 95 229 380 633 1,096 1,273 1,497 1,913 2,302 2,818 3,535 4,026 4,185 4,377 4,633 4,930 5,508 5,996 7,365 9,021 10,982 12,908 15,360 16,720 18,374 22,016 24,503 26,9611 28,78_9 30,826 31,286 32,120 33,170 33,008 35,085 36,801 39,2fi0 42,2211 46 .8-14 Mites of Miles tn New Roaa Operation Built. End of Yt'ar. Y ears. 1870 ••••••. 1871._ ••• . 1872 ••• ··- . Hl73 ••••• - . 1874 ••••••• 1875 •••••• • 1876 ••••• • • 1877 ••••••• 1878 ••••••• 11179 ••••••• 1880 ••••• • • 1881. •• . ·-· 1882. _. ··- ·· 1883 ••••••• 11184 ••••••• 1885 ••••••• 1886 ••••••• 1887 ••••••• 1888 ••••••• 1880 ••••••• 1890 ••••••• 1891. - - ···1892 •• • •••• 1893 ••••••• 1804 ••••••• 1895 ••••••• 1896 ••••••• 1897 ••••••• 1898 ••••••• 1899 ••• • • • • 1900 ••••••• 1901. ••••• . 1902 ••••••• 1903 •••••.• 1904 ••••••• 190fi •••••.• 1006. ·--- - · 1907 • •••••• 1908 .••• •• • 1909 .• • _. __ 6,070 7,379 5,878 4,007 2,117 1,711 2,712 2 ,21!0 2,629 4,7411 6,876 9,778 11,599 6,818 3,973 3,131 8,128 12,983 7.066 5,695 5 ,656 4,620 4,584 2,789 2,264 1,938 2,()67 2,161 3,199 4,512 4,157 4,012 5,076 4,675 5,003 5,050 5 ,643 5,499 3,654 4,000 52,922 60,293 66,171 70,268 72,385 74,091\ 76,808 79,082 81,747 86,556 93,262 103,108 114,677 121,422 125,345 128,320 136,338 1411,214 156,114 161,276 166,654 170,729 175,170 177,516 179,415 181,065 182,769 184,591 186,810 190,818 H)4,262 198,743 202,938 207,335 212.394 217,341 222,766 228,128 232,046 236,000 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 owned at the end of each fiscal year on June 30. LE GTH OF ROAD IN OPERATION. Whole United States 1908 1907 11106 1905 1904 l!J03 1902 1901 1900 1899 1898 1897 1896 1895 1894 1893 1892 1891 1890 June 30. -- - - _- - - - - •• •••• _. __ •••• ····-·-····· • - ••••••• - • ···-········ -· •••••••••• ·-·········· ·····---·-·· ··-·-······· ••••••• - - ••• •••••••••••• ···-·-·--··· • - ••• -··· ••• •• - - •• - ••• • • ••••••••• - •• •••• _. - - ••• ··-········· ···-········ ·-·········- lncrea,e lnf<mnation. How Obtained. Ottic'lal Returns Unoff'l Figures. Miles. 231,539.51 227,670.85 222,571.52 217,017.68 212,577 :57 207,186.84 201.672.83 196,075.07 192,940.67 188,277.49 185,370.77 182,919.82 181.153.77 179.175.51 176,602.61 170,332.30 165,690.97 164,602.79 159 ,271.74 Miles. 2 ,138.20 2,280.34 1,791.65 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 4,325.31 for Total. Miles. 233,677.71 229,951.19 224.363.17 218,101.04 213,904.34 20/.977.22 202,471.85 197,237.44 193,345.78 189,294 66 186.396.32 184,428.47 182,776.63 180,657.47 178,708.55 176.461.07 171,563.52 168,402.74 163,597.05 Year. Miles. 3,726.52 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 2,247.48 4,897.55 3,160.78 4,805.69 5.838.22 The foregoing relates wholly to the length of road or line owned. 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 operation on June 30. SUMMARY OF SINGLE TRACK, 2D, 3D AND 4TH TRACKS, YARDS AND SIDINGS. Whole United Stat~ Length of T.,ength of T.,e'gth of T.,e'gth of Yards &: Single Tr'k 2cl Track 3d Track 4th Tr'ck Sidings. Total Track. -------1---- ------ --- --- - - - June 30. Miles. Miles. Miles. Miles. Miles. Mtles. 1908 ·· · -· - --·---· · - 230,494.02 20 ,209.05 2 ,081.16 1,408 .99 79 ,452 .64 333,645 .86 1907 ····-·······-·- 227,454.83 19,420.82 1 ,960.42 1,389.73 77,749.46 327,975.26 1906._ •.•.••••• • •• - 222,340.30 17,936.25 1,766.07 1,279.66 73,760.91317,083.19 1905 •••••••• - •••••• 216.973.6117,056.301,609.63 1,215.53 69.941.67 306,796.74 1904. ••••• -··· ••••• 212,243.20 15,824.04 1,467.14 1,046.50 66,492.46 297,073.34 1903 ••••••••••• • ••• 205,313.54 14,681.03 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 1901 •••••••• - •••••• 195,561.92 12,845.42 1';153.96 876.13 54,914.86 265,352.29 1900 ·········-····- 192,556.03 12,151.48 1,094.48 829.29 52,153.02 258,784.30 1899 ••••••••••••••• 187,534.68 11,546.54 1,047.37 790.27 49,223.65 250,142.51 1898 ···-········-·- 184,648.26 11,293 25 1 009.65 793.57 47,589.09 245,333.82 1897 ··-············ 183,284.25 11,018.47 995.79 780.48 45,934.46 242,013.45 1896 ••••••••••••••• 181.982.64 10.685.16 990.45 764.15 44,717.73 239,140.13 1895 ··-·-·······-·- 177,746.25 10,639.96 975.25 733.12 43,181.32 233,275.90 1894 ••••••••••• · --· 175,690.96 10,499.30 953 .16 710.99 41.941.37 229,795.78 1893 •• - •••••••••••• 176,461.07 10,051.36 912.98 668.46 42,043.40 230,137.27 1892 ••••••••••••••• 171.563.52 9,367.21 852.70 626.47 39,941.45 222,351.35 1891-···-·····-·-·· 168,402.74 8,865.71 813.13 749.5137,31805 ,216,149.14 1890 ·····-·-······· 163.597.05 8,437 .65 760.88 561.81 35.255.16 208.612.55 RAILWAY STATISTICS. 70 CAPITAL PAYING 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 amount paid in dividends gives the gross amount, including payments by one railway corporation to another. The net sum paid each year is very much less. Thus, while for 1908 the gross amount paid was $305,172,030, it will be seen by reference to the table on page 72 that• the net amount paid was only $227 ,597,070. DIVIDEND-PAYING AND NON-DIVIDEND-PAYING STOVK AND DEBT. Funded Debt Srock Srock Whole Dividends Paid. Receiving Dividends Receiving Nothing. Receiving Noth'g. Unite.a Arrwunt. % of States. W'ole June 30. $ $ s % % % s Debt. 1908 ---- 305,172,030 6.30 4,843,370,740 65.69 *2529 841,583 34 .31 § 655598627 7.24 1308,088,627 6.23 4,948,756,203 67.27 2,408,105,488 32.73 315,927,894 3.76 1907 1906 ---____ 272,795,974 6.03 4,526 ,958 ,760 66.54 2,276,801,333 33.46 287,954,851 3.82 1905 ____ 237,964,482 5.78 4,119,086,714 62.84 2,435.470,337 37.16 449,100,396 6.36 1904_ ___ 221,941,049 6.09 3,643,427,319 57.47 2,696,472,010 42.53 300,894,215 4.49 1903 ---- 196,728,176 5.70 3,450,737,869 56.06 2,704,821,163 43 94 272,788,421 4.33 1902 ---- 185,391.655 5.55 3,337,644,681 55.40 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 1900 ____ 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 1898---- 96,152,889 5.29 1,818,113,082 33 .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 ,07 5 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 1892 ---- 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 40.36 2,654,258,391 59.64 473,925,526 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 61.67 775,851,795 18.19 1888 ---- 80.238.0115 5.381.490,267 .149 38.56 2,374,200,906 61.44 827,554.319 21.6 9 Note.-The per cent or dividends paid is flgured by the Commission on the divtdendpa,ytng stock only and Includes holdings or stock by one railroad In another. •Includes $72,473,050 held In treasury. §Includes $496,340,288 held In treasury. CAPITALIZATION OF RAILWAY PROPERTY. Changes in classifications and in definitions have served greatly to swell the gross total of railway capitalization in 1907 and 1908 and to destroy comparisons with previous years. We give the figures, l{owever, for what they are worth. CAPITALIZATION or s s 2,898,480,829 2,638,152,129 2,501,330,601 2,318,391.953 2,208,518,793 2,205,497,909 1,943,050,349 1,601,913,167 1,521.386,255 1.466,936,176 1,501,346,914 1.447,181,534 1,544,058,670 1,563,022,233 1,391,457,053 1,282,925,716 1,406,907,001 1,151.972.901 10,172,050,226 9,940,853,945 9,585,467,711 9,263,897 ,233 9,029,104,413 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 $ 13,983,402,276 13,829,701,014 13,070,531,055 12,579,006,074 12,086,798,312 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 EQUIPMENT-LOCOMOTIVES AND CARS. The tables we now give show the locomotives and the cars in service . The figures do not include cars owned by individuals or private companies on which the railways pay a mileage. SUMMARY OF LOCOMOTIVES IN SERVICE. Whole Country. Passenger Engines. Freight Engines. June 30. 1908 _ - _- - __ - - - --- - - - - - 1907 1906 -------------------- _____________ ___ _ 1905 -- __ -- - ____ --- _____ 1904 --- _--- ____________ 1903 ---- -- - ___ -- - -- ____ 1902 --- _ -- -- -- _________ 1901 --------------- - --1900 ------------------1899 -- - - - • - - - - - --- - - - - 1898 - - - - - - - - - _ - - - - ____ _ 1897 - - - - - - - - - - - - - - - - - - 1896 - - - - - - - - - - _- - - _____ 1895. - -- --------------1894 - - - - - - - - - - - - -- -- - - 1893 - - - - - - - - - - - - - - - - - - 1892 - -- _-- -- __ --- _-- -- _ 1891 ------------------1890 ------------------- No. 13,205 12,814 12,249 11 ,618 11.252 10,570 10,318 10,184 9,863 9,894 9,956 10,017 9,943 9,999 9,893 9,697 8,848 8,718 8,499 No. 33,840 32,079 29,848 27,869 27,029 25.444 23,594 22.839 21,596 20,728 20,627 20,398 20,351 20.012 20,000 19,603 17,559 16,879 16,195 Switching Engines. No. 9,529 9,258 8,485 7,923 7,610 7,058 6,683 5,959 5,621 5,480 5,234 5,102 5,161 5,100 5,086 4,985 4,355 4,321 4,104 - -_--, Total in Unclassified. Service. No. 1,124 1,237 1,090 947 852 799 630 602 583 601 417 469 495 588 513 503 2,374 2,221 1.342 No. *57,698 55,388 51,672 48,357 46,743 43,871 41,225 39,584 37,66 36,70 36,23 35,98 35,95 35,69 35,49 34,78 33.13 32,13 30.14 SUMMARY OF CARS IN SERVICE. RAILWAY PROPERTY-DEBT AND STOCK. Whole - - - - - - - - - - F u n d e . a D e b , r , - - - - - - - - - - - Debt U.S. Miscellaneous Income Equtpment Total per M. June Bonds. Obltgattons. Bonds. Trusts. Debt. of road. 30 $ $ $ $ $ S 1908_ 6,610,189,953 2,180,965,753 258,584,016 344,592,782 9,394,332 ,504 ----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 1905--6,024,449,023 786,241,442 253,707,699 186,302,906 7,250,701,070 34,625 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 tl,109,981,669 31,371 190L_5,048,811,611 545,780,485 218,872,068 68,116,723 5,881,580,887 30,963 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 1897--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 1894--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 54,7.5 5,157 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:- - - - - - - - -Ago. stk. & debt-Whole Per mile Per M. u. S. Comrrwn. Preferred. Total. of road. Total. of road. June 30. $ $ $ $ $ $ 1908 __ 5,910,351,430 1,462,860,893 7,373,212,323 ----- 16,767,544,827 ----1907--5,932,948,772 1,423,912,919 7,356,861,61:11 ------ 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 190L-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 11,49 1,034,960 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 10,8 18,554 ,031 60,343 1897 _-4,367 ,056,657 997,585 ,598 5,364,642,255 30,074 10,635,008 ,074 59,620 1896 _ _4,256,570 ,577 969,956,692 5,226,527.269 29,484 10,566,865.771 59,610 1895 __4,20L,697,351 759,561,305 4,961.258,656 28,602 10,346,754,229 59,650 1894- -4,103,584,166 730,491,493 4,834,075,659 28,186 10, 190 ,658,678 59,419 1893 __ 3,982,009,602 686,925,816 4,668,935,418 28,184 10,506,235,410 63,421 1892 __ 3,978,762,245 654,346,518 4,633,108,763 29,240 10,226,748,134 63,776 1891-_3,796,239,374 654,409,653 4,450,649 ,027 27,596 9,829,475,015 60,942 606.373,542 4,409,658,485 28,194 9,437,343,420 60,340 1890 __ 3,803,284,943 Statistics regarding the investments by one company in the shares or debt of another were formerly given but have been omitted the last two years. OWNERSHIP BY OTHER ROADS-STOCK AND BONDS. ------Bonds~----- ----Sroclc----Total NotOwned Owned by Not Owned Whole Owned by Bonds. RR. Corp'ions bu Railroads. U. B. RR. Corp'ns by railroads. June 30. $ s $ s s 6,610,189,953 1908_ -- --- -- - - - 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 4,484.504,943 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 1900---472,83 1,377 4,427,795,446 4,900,626,823 1.470 .218 ,972 4.375,360,621 1899-- -394,414,868 4,336,639,508 4,731,054,376 1,207,498,299 4,307,513,427 1898_ - _359 ,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---400.11 I.363 4 ,117,760,700 4,517 .872 ,063 -1,101.235,551 4,125,291.718 1895-- -395,542 ,915 4,246,212,633 4,641,755,548 1.051.638,619 3,909,620,037 1894- --415,314,637 4,178,61 7.117 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 3,533,151,079 1892___ 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 4,081,621,675 963,853,759 3,445,804,476 1890- - -443 ,053 ,242 3.680,868,315 4.123 .921.557 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis -----Aggregate Srock and DelJ,>-----Total Srock Owned by RR. Not Owned by Corporations. Railroads. and Bonda. Whole Total Srock U.S. Outstanding. June 30 $ 1908 ___ 7,373,212,323 1907 ___ 7,356,861 ,691 1906 ___ 6,803,760,093 1905---6,554,557,051 1904- __ 6,339,899,329 1903. - _6,155,559,032 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 1897 ___ 5,364,642,255 1896- _-5,226,527 ,269 1895---4,961.258,656 1894-- -4,834 ,075,6 59 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 I Whole Country. 1908 1907 1906 1905 1904 1903 1902 1901 1900 1899 1898 !F97 1896 1895 1894 1893 1892 June 30. ____ - - - -- - - - - - - - -- - - - - - ---------------------------------------------------------------------______ - - - - _- - -- ____ -- __ _ -- - -- - - - - - - - - - - - - - - - - - - ___ -- -- __ -- ____ ---- -- __ _ ------------- -- --------- - - - - - - -- - - - -- - - - - - - - - - ---------------------------------------------------------------------- -- - - - --- - - - ----- - - - -- ----------------------------- -- -- ______ -- -- - _-- _ - - - - -___ - - ---- -- - _-- --- --_______ ____ -- -- -_-- P~~~1!~•e FrJu'f:t's~tu cJ:~~I ~~c~~ No. 45,292 43,973 42,262 40,713 39,752 38,140 36,987 35,969 34,713 33,850 33,595 33,626 33,003 33,112 33,018 32,911 No. 2,100,784 1,991,557 1,837,914 1.731.409 1,692,194 1,653,782 1,546,101 1,464,328 1,365,531 1,295,510 1,248,826 1,221.730 1,221,887 1.196,119 1,205,169 1,201.273 No . 98,281 91,064 78,736 70,749 66,615 61.467 57,097 50,536 50,594 46,556 43,753 42,124 42 ,759 41,330 39,891 39,762 1891 - - - - - - - - - - - - - - - - - - - - - - - 1890 ------------------------ No . §2,244 ,357 2,126,594 1,958,912 1,842,871 1.798,561 1,753,389 1,640,185 1,550,833 1,450,838 1,375,916 1,326,174 1,297,480 1,297,649 1,270,561 1,278,078 1.273,946 1,215.092 1.215,611 1,169,667 •Includes 965 locomotives In the service or switching and terminal companies. ~ Includes 13,176 cars In the service of switching and terminal companies . PASSENGER AND FREIGHT RATES AND TRAIN-MILE EARNINGS. RATES PER TON AND PER PASSENGER AND PER TRAIN MILE. Rate Rate Train Earninga. All Tratna-:..Passenger &: Freight. Year Ending per pas. per r o n 1 - - - - - - - - 1 - - - - - - - - - - June 30. per per Passenger Freighi Earns. per Cost per Profit pa mile. mile. per mile. per mile. train mile. rain mile. tr'in mile. 1908 1907 1906 1905 1904 1903 1902 1901 1900 1899 1898 1897 1896 1895 1894 1893 1892 1891 1890 1889 1888 -------------------- ------ _- - - ------- --- ------------------------------------- - --------------------------~- Cents. Cents. s 1.937 .754 1.27.073 .759 1.25.805 2.014 .748 1.20.338 2.003 1.962 ,766 1.15,954 .780 1.14.135 2.006 .763 1.11.644 2.006 1.986 ,757 1.08.531 .750 1.02.721 2.013 .729 1.01.075 2.003 1.978 .724 1.01.615 1.973 .753 0.97.419 .798 0.93.917 2.022 .806 0.98.591 2.019 .839 0 .97.870 2.040 1.986 .860 1.04.897 1.06.984 .879 2.111 .898 1.06.873 2.126 .895 1.06.111 2.142 .941 1.08.641 2.167 .922 1.06.287 2.165 2.349 1.001 1.13.900 $ $ $ 2.65.307 2.11.269 1.47.340 2.74.023 2.17.741 1.46.993 2.60.804 2.07.547 1.37.060 2.49.689 1.97.906 1.32,140 2.42.703 1.93.960 1.31.375 2.43.967 1.91.380 1.26,604 2 .27.093 1.82.350 1.17.960 2.13.212 1-72.938 1.12.292 2.00.042 1.65.721 1-07.288 1.79.035 1.50.436 0.98.390 1.73.112 1.45,449 0.95.635 1.65.358 1-38.194 0.92.918 1.63.337 1.39.567 0.93.838 1.61.190 al.37.723 al.18.693 1.55,744 1.36.958 0.93.478 1-63.018 1.43.475 0.97.426 1.64.611 1.44.649 0.96.580 1.63.683 1,43.345 0.95,707 1.65.434 1.44.231 0.96.006 1.65.377 1.39.191 0.94.868 1.65.700 $ .63.929 .70.748 .70.487 .65,766 .62.585 .74.776 ,64.390 .60.646 .58.433 .52.046 .49.814 .45.276 ,45.729 a.19.030 .43.480 .46.049 ,48.069 ,47-638 .48.225 ,44 .323 a These are reported as "rovlsed 11.gures;" originally earnings per train mile ror all trains were given as $1.35.947; cost per train mile, $0.91.829, which would leave a profit per train mile or $0.44,118. MEN EMPLOYED ON RAILWAYS AND THEIR WAGES. The Commission collects very extensive statistics regarding the employees of the railroads. The table below shows the number and classes of such employees. RAILWAY STATISTICS. OROSS AND NET REVENUE, INTEREST CHARGES, ETC. NUMBER OF EMPLOYEES IN SERVICE OF THE ROADS. GenOther ConEnOther eral Other y e,ar endinql Off'(,- Otfi- Offi ce Station Statum gine- Fire- d'll,C,- Train- June~30. cer11 cer11. Clerk11. 63,973 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 1908 _--5,076 1907 ___ 6,407 1906 ___ 6,090 1905 ---5,536 1904 ---5,165 rno3 ___ 4,842 1902 __ -4,816 1901 __ -4,780 1900 __ -4,916 1899 ---4,832 1898 __ -4,956 1897 __ -4,890 1896 ---5,372 1895 ---5,407 1894 ---5,257 1893 ---6,610 1892 ---6,104 1891 ---5,271 1890 ___ 5,160 7,751 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 ---------- CarYear ending pen- Oilier Section Slwp- Fore- Agents. men. 35,740 35,649 34,940 35,245 34,918 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 25,665 132,013 152,929 138,778 125,180 120,002 120.124 105,433 94,847 89,851 83,910 78,603 74,569 75,919 73,569 71,150 75,181 69,511 67,812 66,431 men. men. tor11. men. 57,668 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 61,215 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 43,322 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 24,823 27,537 26,042 24,523 23,513 114,580 134,257 119,087 111,405 106,734 104.885 91.383 84,493 74,274 69,497 66,968 63,673 64,806 62,721 63,417 72,959 68,732 64,537 61.734 Machin- June 30. ters. men. men. men. 1908 __ 58,946 176,680 41,419 299,448 1907--70,394 221,656 41,391 367,277 1906 __ 63,830 199,940 40,463 343,791 1905--56,089 176,348 38,217 311,185 1904--53,646 159,472 37,609 289,044 1903--56,407 154,635 37,101 300,714 1902--51.698 136,579 35,700 281.07§ 1901--48,946 120,550 33,817 239,166 1900--46,666 114,773 33,085 226,799 1899--42,501 103,937 31.690 201.708 1898--40,374 99,717 30,771 184,494 1897--37,740 91,415 30,414 171.752 1896--38,846 95,613 30,372 169,664 1895--35,564 88,661 29,809 155,146 1894--36,328 84,359 29,660 150,711 1893--41,878 93,709 29,699 180,154 1892--40,080 87,615 28,753 171.810 1891--37,718 83,865 27,890 163,913 1890--37,936 80,733 27,129 157,036 &c. 46,221 53,414 49,659 45,532 46,262 49 .961 50,489 47,576 50,789 48,686 47,124 43,768 44,266 43,158 43,219 46.048 42,892 40,457 37,669 &c. F'loat All ing Equtp. Other11. 39,744 8,028 39,193 9,139 36,090 8,314 31.963 8,753 30.425 7,495 30,984 7,949 28,244 7,426 26,606 7,423 25,218 7,597 23,944 6,775 22,488 6,349 21.452 6,409 21.682 5,502 20,984 5,779 22,145 7,469 22,619 6,146 20,970 5,332 20,308 5,911 18,968 6.199 199,510 228,324 198,736 178,965 160,565 168,430 147,201 131.722 125,386 107,261 98,673 90,725 88,467 83,355 85,276 105,450 98,007 93,543 83.300 wts. <OlQOO,-..t,.. l'--O>lQOOO lQOO,t,t--CN CQ o, 00 <O t-- l'--,t\OOCNlQ <OOCQO>OO 00 00 ..-4....-ICQ CQ t,.. .;r-:..;.,; co lQ.-fOOt-o, 44,941 55,244 51,253 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 5 ... (Q (Q ,-..CN .-f<OO>OOCN <O l'--O<OCQCN O> ~ .-ft--t--<O<O 0, ,t!O) t-- (Q,-f CN CN CQ lQOO ,-..o ,t,00 0....-1-.:ttt--lO ....... !:::; .... ....... ....~ lQ t-- ..;00coo <OCNOOO ..-4..-4-.:tl ,t,00 (Q .... o00 o...; O,,tl <00,lQ,-..CN l'--01'--CQO CQO>lQOO<O 00.,;.,;00c:-i lQt,..(O,tl,-.. CNOO,t,lQt,.. 0 cico.,;.,; (OCQCQQCI .... ........... CN CN t-0, I'-- ... <O (Q CQ ....0 .... ....... CN <O ployees 1,436,275 1,672,074 1,521,355 1.382,196 1.296,121 1.312,537 1. 189,315 1.071,169 1,017,653 928,924 874,558 823,476 826.620 785,034 779,608 873,602 821.415 784,285 749,301 <O<OlQt--00 OOCNCQO>t-CQOOO,t,00 ~..;~...;ac (00).....tt-,.(0 <OOOlQ,-..lQ -..;c:-i..;c,; "q't....-lO)t-,. ,-f,-f(Q :g~!::;~ c,:,,-..o,OCQ ~ CN ~g~1;:;i1:s!:::. lQ.-fOCNCNOO (Q,-f ~ ~...,o, CQ CN .... ~~~g~ '° ....q ..;.;.....,; .... .... ,t\.-fCQCQ ..-4..-4'q't CQ ;; O> ~ O> 00 00 <O ~ ~~ CN lQO> ~ g; CN -0 ~~ ~ ~ CN<O lOCOlO ... CN t,. O> CN 0 . .; ...'° ;l g .~.· .,; <O CN r--: ~ ,t, ~ co0000i-.:c£ o (Q ...... ;l ..; c,;c,;.,;,,;.,;00c:-i 00 ~~ <O ;!: 0 ,-..CQCNOCN.-f.-< ,-.. ,-..CNCQ-0.-<,t!<O 0 0>00 ~ ,..... ...;ei ..; c:-io00 00-.i-.i ci ...... (Q .... CNOOOO O> 00 .,;,,; OOCN <O (Q ci ~ 0 00 ~ ........ OlQ<O<O,-.. ,t,CQOOCNOO <O ,-.. 00 0 CQ<OCNOOCN ....... lQ,tl(Q ,.q ~ ........... (Q ("l') CX) "'c:D"' ~ ..; ci ..;c:-i.,;.-.o CN <N <i<NCNCO.-. lQCNCQCQ .... OCNlQOO>lQCQ,-.. 0,00,-...0 .... 0CNlQ 00 00 ..- ~.. . ~cqqqr-:.~~<q 00000..-,-...rooro M CN <O OOC\ICOCO,:tl lQ<0,-... 00 0> O>OOCN<O,tl CN lQ CN 00 0.-f 00 .,;o <00> lQO ,,;.,; .... <OCN CQ.-f <O lQ O, ~ CQ CQ<O<O,t,00 o, ~~~~~~8°' ~..<0,t,lQ,-...(0,t, r-.: .;c:-i..;co .... !:; CQ ,-.. <OCQCN ....... <OCQ ... 00 00 .-f 0:0 ~\::: ... ~ ...-4C'l':)ct)LQ'q'II.Qr,... O>OOOCNCNOO> <OO>OCQCNO>lQ .,; ..;..;..;,.;<N .; c:-ic:-i '° co.;.-...;00i-.:..; 00 .-fCN,-...,-...00 lQO CN ,-.. CN,-...0>,tlCN,t!CN ~ .... ..-4..-4-.:tl CQCN gfri ....... 00 .-fOCQ,t!OOOOlQ 00 CN .;coo ~ cor-.:c:-i ... (Q 0, ... 0>CDMe--1 AVERAGE DAILY COMPENSATION OF RAILWAY EMPLOYEES. Class- .... ,-.. cio i-.: 00c:-ico..;r-.: O> 00.-fCNOOOO O<O 0 Total Em- The changes from year to year in the average. daily compensation of the different classes of employees is indicated in the table which follows. lQ o, CQ ...; ...;,;tQr.oCO ,; Teleg. Switch OperaOther Track- Tender11, tors, • 71 ,-..,-..,-..CNCNlQO, 00,t!CQO)CQ,tl,t! 000 ........ <00 .... ~ :::~ s 0, <O.... (Q 1"""'fl""""('q'ilQCQOU, 00 "'¢t..-4 CC CN 00 ...... CN 00 CN,t, e--11"""4 00.-f ,... 0 O> CQ CO --.,;:('I') t-- O> 00 0 0 00 .....; .,; 00c:-ico.,;r-.:oc£ o ..; cio ,,; ..; co -.:tl..-4 <O 00 000 lQ lQOOO>CQ,-..CN 0 '08. 1907 .1906. 1905. 1904. 1903. 1902. 1901. 1900. 1899. '98. '97. '96. '95. U") ~ : = ::= tO~CO ,.......;..; .,; ..;,;..; C000 co 0 00,t! ,t\.-fCN 00 o, 00 s s $ $ s s $ $ $ $ $ $ $ tl~i Gen. off_ 13 llll 93 U 8111 7411 6111 27111710 9710 4510 039 739 54 9 199 01 Other off. 6 27 5 99 5 82 6 02 6 07 5 76 5 60 5 56 5 22 5 18 5 215 12 5 96 5 85 Off,cl'.ks.233 230 224 224 222 221 218 219 219 220225218 221219 Sta. S!ITB. 2 09 2 05 1 94 1 93 1 93 1 87 1 80 1 77 1 75 1 74 l 73 1 73 1 73 1 74 Oth.st.m. 1 82 1 78 1 69 1 71 1 69 1 64 1 61 1 59 1 60 1 601 611 62 1 62 1 62 ,..;CQ ~ lO ~~::e~J ii ~ i~ ~ !~ ~ t~ ~ ti ~ g~ ~ ~i ~ rn ~ u ~ mi~ ~ mgz ~ gg Conduct_381 Oth.tr'm260 Mach'n's. 2 95 Carpen'rs 2 40 0th.shop 2 12 Sec.form. 1 95 Oth.tr'ck. l 45 sw.ten.&178 Tel.op.&c 2 30 Float.eq_238 Alllothers 1 97 369 254 2 87 2 40 2 06 1 90 1 46 187 2 26 227 1 92 351 235 2 69 2 28 1 92 1 80 1 36 180 2 13 210 1 83 350 231 2 65 2 25 1 92 1 79 1 32 179 2 19 217 1 83 350 227 2 61 2 26 1 91 1 78 1 33 177 2 15 217 1 82 338 321 317 217 204 200 2 50 2 36 2 32 2 19 2 08 2 06 1 86 1 78 1 75 1 78 1 72 1 71 1 31 1 25 1 23 176 177 174 2 08 2 01 1 98 211200197 1 77 1 71 1 69 317 196 2 30 2 04 1 73 1 68 1 22 180 1 96 192 1 71 313313307305304 194195190 190190 2 29 2 28 2 23 2 26 2 22 2 03 2 02 2 01 2 03 2 03 1 721 70 1 711 691 70 1 681 69 1 70 1 70 1 70 1181 16116 1 17 1 17 177174172 174175 1 93 1 92 1 90 1 931 98 189189186 194191 l 68 1 67 1 64 1 65 1 65 g~~~f ~ ~~ ~ OCNCNlQCN ~~~ ... q ..-..-000..0,,t!O,OOCQ lQ<O<OOOO> ,...,-.. 00 000<0000>0><0 .... ~!:::; ~ ~ ~ 2'~~ OOCQCQ .... .-f lQ CQ,... ,-.. ~ ~ ~ ~ co ,ti 00 o 0 ~ .... ,-.. ~ 00 0, 00 co..; ~ ~ .... '° ~ ~ .,; ..; ..-4("1') 00 -.:ti .... (0..-4 00 i!~~~~ CN lQ 000 lQOO O,t, lQ CQ 00 ..;O')O)r-,:0) ooi-.: .,; .;oooiioor-.: ~ 00 000 00 i-.: 000 o» lQ<OCQC,:,,tl,tl,tl CNN CQ :::: g:: c,:, .... 0')0C'l'-.:rt000>1"""4 <O 0, CQ<O lQ 00 CQO)ei ,;..;,; i-.:,,; i-.: ..;.,; ... ~ co co O') IQ lQ'q'l"lft 00 ..-o lQ ....... o..CNCN<O 0, ,-.. 'P""4 00..;,,;..; s ~- co..; .,;o ,ti <O ro <O CQ ...;o...;,;co 00 .....; .,; CQCl':)O')l"""'ICQ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis CQ .-.o'°c:-i.-. o 00ci i-.: c:-i.,;c:-i o.-.c:-i co .... co 0000<00,CN EARNINGS EXPENSES, CHARGES, DIVIDENDS. In bringing together the Commission's figures dealing with the earningsar..(! disbursements of therailroads,some explan.ation of the method pursued in the compilation of the figures is necessary. The income statement is now presented in two forms. In the first the totals are the aggregate of the figures reported by the several carriers, no attempt being made to' eliminate duplications either in receipts. and expenditures or in charges and dividends. In the second the ratlways of the Umted States are treated as a single system, all duplications of receipts and expenditures which arise on account of inter-corporate relations existing between the carriers being eliminated. In the second form t h e data extend back only to 1898. We give the comparisons both ways. The extent of the duplication involved in the first m ethod, which is avoided in the second, is 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-operating income of $274,450,192; but from the second form af statement it appears that the "clear income from investments" was only $64,015,142. The difference between the two amounts represents duplications and measures the extent of inter-corporate payments. Similarly, the difference between "interest on funded debt" in the old statement and ''net interest" in the new is arrived at by deducting from the aggregate of interest accrued, as reported by the different railways , the interest which the companies received from their holdings of bonds in other roads. In like manner, "Net dividends" in the new form means the aggregate of dividends declared less the amount received by t he companies on their own holdings of stock in other railroads. _:: ~-~1 ~=~=~=~~~g-cg=+~!~ ..;co..;c:-i..;00CN i-.: 00co.,; cocilOC000 ,-.. O>CN,t!CQ,t,CQOO CN,t\ O> lQO><O<OO ,-...,-...000,00 CNCNO<OO ...... .,, ....... cooc:-ii-.: <0,t,0,t! CNN,-.. ,t, c:--1 CQCN oco co co ..-40) 0 ..-4 00 ~ <OCN 00 -.::rlQ~t-,-O)C'l':)00 0 lQ CN,t,OOCN<OOOlQ 0, ... ... 0 lQ CN ..... (O("l')~lQ..-41"""'1 CN 0, ,-..o ....... <O .... lQ 0, <O ... ~ ~ 0, O><O ....... 000 lQ 0, 00 t ... ..-4 ..., ~ <00 ..;u-; r.o ........ 0?,..-4 .... CN CN lQ 0 <N CN CN RAILWAY EARNINGS. 72 U:,<0 ""M .... CO q ~"!. <OM"' O lt';) :N t--O>IN IN ~ 0 M"" t--00 IN t--M r--t--lN U:,000 M "" .... IN 0, lt';) 00 r-- a.eor-- o, 000, 00 IN q o,ou:, ~ RAILROAD GROSS EARNINGS FOR THE CALENDAR YEAR. ~00 r-Under trade revival the year 1909 was one of noter--c--t r-°'"' ~~~ ~ ~ worthy improvement in railroad earnings. The addi....;..; co r-:ci~ IQ ,,; 00'1' ,ii ........ co 0 tion to the gross revenues of United States railroads ,,;IQ,.. ,,; ,..;r:-:co u5 "5"5 ci .... .... during the calendar year 1909 reached striking proportions. Tabulations covermg the returns received ~8 ~ ~ ~ 00 ,ii ,ii coci ci 0 oo«5 r-: up to Feb. 10 show an increase for the twelve months ci ..;co ....;oo IN IQIQ'1' ,-.. "5 of no less than $284,215,852. This embraces 531 ........ ~~ roads, with an aggregate of 238,073 miles of line, "!_ including three important Canadian systems, namely ..;,;;,ii ci oo r:£,;5 cxioti ,ii q"!_ the Canadian Pacific, the Grand Trunk of Canada and ,...IQoo ,ii 0 cilQo "' M ~ the Canadian Northern. On this mileage the aggregate of the gross earnings in the calendar year 1909 oo ........ 00 !Qr-: IQ r-: IQ cioti IQ was $2,696,786,503, as against $2,412,570,651 in ~g ~ °' .... "' q0 r--o..,. oo o,,; ,,; or-='1' '1'1Qoo ,ii 1908, and the huge extent of these revenues is signifiM M M "' "' cant of the magnitude of the railroad-carrying m'°""'° or-- ,-.. dustry on this continent. As the tabulations are not ooo_; r--: cxi"5 ...; ooti o .... MCO ~ -st< ,..., q q yet absolutely complete, the returns of a number of r-:(0 0 ootir-= ,;; Mti M ~~ ~ M minor roads being absent, and the December results "' "' coo co ~~ ~ being missing in the case of a few of the roads included 'sl! coo .... ~ Lr.)~ ~o cxi cioti ti in our compilations, it seems quite likely that figures ..,.,-.. "!. M "5ti IQ r-:M oolQM ' ° the whole system of the country would record covering M.... ~~ ~ "' "' a gain in earnings even larger than the $284,215,852 ""O "" o, increase at present disclosed, though we should judge o,o ,;; oci,ii «; 0 aqt-;_ "!. the further addition would be small. ~IQ,,; ti M "' ,-.. T aking the increase just as it stands, no one can fail co -st< to be impressed'by it. Obviously it added enormously ~o oo ~MlQ ~ ~ o,o .,; cior.:.; to the spending power of the railroads and this, with ""01N M ~~ ~ er.> i-,:,; ,; ~ ~g g MU":>~..i the enhanced credit of the roads,. enabling them to put ~lQ~ ~ M -st< out new stock and bond issues with greater freedom ""M ,-.. -st< q C'!_ and on better terms, was perhaps the most important CT>~ "' ciooo ~. g ~ ~i~f ~ g "'"' ""°' IN_ element in maintaining trade revival and giving it o"'o.. ~o"' ~l0£; ~. ~ that decided impetus which carried it to still greaterheight s in the closing months of the year. Prosperity ""0"" <N .;o<£ cxi in trade and prosperity in the railroad world act and ~~~ ~ c,; M.....i"'~ ,;£Ir).; <N ~ ..,.i:,:,oo react upon each other in a most noteworthy way . It may be a surprise to hear that large though the gain in earnings has been·, it is not equal to the previous year's loss. The corresponding tabulations ~ which we published twelve months ago showed a loss ~~i::i in earnings for the calendar year 1908 of $290,140,542. ~ 8 ~~ ~ At that figure the 1908 decrease would not be much "c; ~~ ~ above the present gain, but our compilations for 1908 ~~ ~ ~z were less comprehensive than those we now give. The mileage then covered was only 205,129 miles, and in TRAFFIC MOVEMENTS-PASSENGER AND FREIGHT. a second series of tables subsequently published in the TRAFFIC OF U. S. RAILROADS-PASSENGER AND FREIGHT. ''Chronicle" we showed that the shrinkage in revenues WIIOte - - - - - - - - - - F ref.ght Servic:e - - - - - - - - - U. S. Tons moved Tons moved Tons 1 M. Miles run Average Miles run lJu m 1908 could not have been less than $345,000,000. June 30. less dupli'ns one mile. perM.road b11 t't lr'ns. tr'n-lo'd freight cars. 1908 ___ .869, 797,510 218,381,554,802 974,654 587,218,454 351.80 16,857,003,236 m~ ::::m:m:1ii m:i~Vii~:m 19i~~m m:&&tm m:it u:m:iiH3: As compared with this contraction of $345,000,000, the 1905 _--- 784,920,188 186,463,109,510 861.306 546,424,405 322.26 15,082,070,763 present gain of $284,215,852 for 1909 still leaves a 1904 ---- 714,375,339 174,522,089,577 829,476 535,090,971 307.76 14,353 ,650,056 190::l ---- 714,767,821 173,221,278,993 855,442 526,312,433 310.54 14,193,713,005 deficiency to make up, it will be observed, of, roughly, 1902 ____ 657,846,807 157,289,370,053 793,351 499,711.176 296.47 13,326,514,369 1901----583,692,427 147,077,136,040 760,414 491.942,041 281.26 12,811.211 ,703 $60,000,000. In the follo~ing we furnish a summary 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 ------------- of the yearly totals back to 1896, just as registered by 1898---- -------- - - 114 ,077,576,305 617,810 503,766,258 226.45 ------------1897 ______________ 95,139,022,225 5Hl,079 464,962,242 204.62 _________ __ _ _ our tables each year. The reader should not fail to 1896 ____ ---•------ 95,328,360,278 523,832 479,500 ,170 198.81 ------------1895---- ---------- 85,227,515.~91 479,490 449-291.238 189.69 ------------note the uninterrupted series of gains prior to 1907. 1894---- ---------· 80,335,104,702 457,2.52 446,807 223 179 .80 ·-- ---------0, 00 0, co q ....lt';) .... ~ ..... 0, ..... 0, .... lt';) .... <00 "' U:,IN CO cxi,,;oo ~r-:,,; M IN CN U:,OM <0,...,M 0, M cxi c,ic,; 00 "" l.Q ~ :2~ MO> 00 r-:o,ii °' <alQIQ r-: "" ~g~ IN IN l0 01""""1 o o .... ""00> ,-.. 00 o, l'-000 <O <O 0, IN '"' U:,INM 000,1'IN OOIN IN IN O>,...,M 0,0,M IN <O ,-.. .... IN .... lt';) OOC°'l<N O>IN"" U:,lt';)O) lt';) IN oou:, M ~ 0, IN l""""I lt';) 0 M lt';) 0, 00 lt';) IN .... lt';) M u:, 000> tr.lOl.Q u:, c.c?_ = IN IN 00 7"'"t00) C"-1 ,-....,. ,-.. "'IN <01'M<O IN 0, ,...IN IN o, M ~ o, 00 t-- MOOO O>O<O <O ,-.. 0 M 0 M M 000 0>00 IN 00 0000 <000 0>000 00 00 0 M l'-Ml'.... OM u:, IN U:,00 MOO> OOM t--lN M<O 0, IN 01'-I'OOU:,M ~ CO u:, IN 0 ......... IN"" <O u:,,..., "' '1' ,..;r-,: IN,-....,. .... 0 0 IN lt';) M ........ lt';) "' IN U-:,0, lt';)IN .... CO ..,.u:,o, ,-.. lt';) !QCOlQ IN ~ 0~ r--ao lt';)lt';) M l'- Mt-0 ..... IN lt';) 00> MOO 0 M<O .... 00000 ........ 0, <O Mt-- 0 t--00 IN lt';) <O u:, COO> O,<O . CO 0, u:, 00 ..,.u:, 0, M 0 0 M O,lt';) .... <O<O IN 0 IN 0,0 OOM ~(Ou';) l""""I o, lt';) CC? t--0<0 "' 00 MO IN ,-.. U:, .... M <OU:, 0 Q) u:,,.... N ""CN O<O 00 <OM l'-M "'""' INOO 1.r.:>1:••l""""I C,:,U:,00 M<OI'- O,-q_..._ ,-.. t-- l""""IC'llC lC ~ lt';)C,:,I'l'-lt';)M "" 00 0, .... ou:, l""""IOM ""000 0,0<0 lt';)<O l"""'I 0 0, t--<OM C'f'J.. <O M. ..-t ~1""""100 l""""I ....-IC'f:1(0 t--(N'q'1 'q'1 C.OC'Q.,...-1 00 0 M IN _;~~ C) .... 0, .... "'OU:, M INOM IN u:, u:,o..,. M M .... ,-.. u:, ""000 INOlQ <OOC-1 0 <NOIN t--0,M "" 0 "" u:, 00 l""""IOCI':> l""""I <O MOU:, <0000 t-- 00"'"4 .... IN <N 0000 0,000 000 .... "':11.. 00 """' o, <O "'l:f1 -4 OOIN ,...,,..., MO,... 000 .... u:,ou:, <OIN 00 lt';)U-:, INt-- M o, M IN u:, 0, OOM o,•~ lt';) "" l'-IN "'IN u:, IN U:,Ot-, U:,OU:, "" <O M IN M IN. <OOU:, M u:,ooo t "' IN t--OM 1""""10"1 <O u:, IN l""""I 00 O') ~ <O "" I I I I I I I I I I I ~. ,0 Oil 1893 _--1892 ____ 189i •. -1890---- --- __ -- • • • --------------- - ------------ 93,588,111.833 88,241.050,225 81.073,784,121 76,207,047,298 551.232 543,365 502,705 487,245 508,719,506 485,402.369 446.274.508 435,170,812 183.97 181.79 181.67 175.12 -- • _____ •• _---- ··----- - ----------· ---- · ---- -- ----· Whole - - - - - - - P a s s e n oer Servtc,e~------- Aogregate Rev U.S. Passenoers Pass. carried Pass. lM. Miles run Pass'gers Train mileage June 30. carried. one mile. per M.r'd. by pass.tr. per tr'n vass . &: fre'it. 1908 ____ 890,009,574 29,082,836,944 130,073 505,945,582 1907 ----873.905,133 27,718,554,030 123,259 509,328,042 1906. --- 797,946,116 25,167,240,831 )14.529 479,037,553 rno5 ____ 738,834,667 23,800.149,436 109,949 459,827,029 1904----715,419,682 21.923,213.536 104, 198 440,464,866 1903----694,891.535 20.915,763,881 103,291 425 ,142,204 1902 ____ 649,878,505 19,680,937,620 99 .314 405,613,231 1901. ••• 607,278 .121 17,353 ,588,444 89,721 38.5 ,172,567 1900._ •• 576,865,230 16,039,007,217 83,295 363,521.596 1899----52::!,176,508 14,591.327 ,613 77 ,821 354,416,916 1393 ____ 501.oti6,t:i81 rn,379,930,004 72 ,462 341.526,769 1897- •• -489,445 ,198 12 .256.939,647 61\,874 ::135,018,605 1896----511.772,737 13 ,04~ .01)7,233 71,701\ 332 .854,218 1895-- - -507,421.362 12,188,4415,271 68,572 317,565,615 54 51 49 48 46 46 45 42 41 41 39 37 39 38 1892----560,958,211 1891----531.183,998 1890----492,430,865 42 42 41 mt:::~ig:i~g:m u:m:m:iii iu~i m:g~g~g 1~ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 13,362,898,299 12 ,844,243,881 11.847,7135,617 82,285 317,538 ,883 7!l ,642 307,927,928 75,751 285,575,804 Mileage. Jan. 1 to D ec. 31. Gross Earnings. 1-------~---------- Inc:rease (+) OT Year Year D ec:rease (-). Year Year InPreceding. Given. Given. Preced. c:r'se. - - - - - - - - - - - 1 - - - - -1 - - - - -1 - - - Yr. Roads Miles. Miles. % $ $ $ I~ 1,129,149,453 - - - - - - - - - - _ _ ,_ _ _ _ _ _ ,__ _ _ _ , _ _ _ __ 1,171,922,997 1896 196 148,916 147,710 0.81 879,622,029 877,303 ,635 +2,318,394 0.26 1,105,877,091 1897 192 154,930 153,133 1.17 974,466,753 919,976,190 +54,490,563 5.92 1,038,441, 43 0 1898 190 157,801 156,295 o .96 1,050,895,038 973,247,319 +77,647,719 7 .97 1.007,529,542 1899 168 156,958 153, 535 2.23 1,128,928,916 1,027,612,030 +101,316,886 9.86 982,946,284 1900 171 157,401152,122 3.47 1,216,924,951 1,ll6,009,184 +100,915,767 9.04 936 ,148,675 1901 157 172,879 170,549 1.36 1,495,915,406 1,352,897,605 +143,017,80110.57 908,092,818 · 1902 147 170,395 167,641 1.64 1,542,725,832 1,449,841,005 +92,884,827 6.46 886,781.590 1903 142 172,788 169,203 2.12 1,755,678,836 1,573,578,987 +182,099,849 11.57 ------ -- -- 1904 135 179,668 176,492 1. 79 1,773,338,878 1,762,201,391 +11,137,487 0.63 __________ 1905 128 180,398 178,264 1.19 1,907,424,202 1,755,384 ,568 +152,039,634 8.66 ----- ----- 1906 134 186,687182,611 2.23 2,131,306,699 1,907,244,247 +224,062,452 11.74 ---------1907 140 201,767199,528 1.12 2,491,429,838 2,275,461,577 +215,968,261 9.49' ---- - ----- 1908 137 205,129 202,268 1.42 2,196,476,765 ,2,486,617,307 -290,140,542 11.69 ========== 1909 531 238.073?34.582 1.49 2,696.786.503r412.570.651 +284.215.852 11.78 ---------_____ _____ __________ Note .-Nelther the earnings ot the Mexican roads nor the mining operations or the anthracite coal roads are Included In this table . 73 RAILROAD EARNINGS. The gains in 1909 continued through all the months of the year. Beginning in a small way in J anuary, they grew larger, month by month, as the year progressed. At first the 1909 increases fell far short of the 1908 decreases, but in the. later months they ran well ahead of the previous losses and that fact was all the more significant since comparison then was with better results in 1908. The following is a summary of the monthly totals. We use the totals of the InterState Commerce Commission as far as available, that is, to and including.October. For November and December the aggregates are our own. Miles of Road. in Month. 1909 . January _________ (894 February ________ (893 March __________ (890 April ___________ (895 May ____________ (893 June ___________ _(893 Jilly __ __________ ( 85 August ______ ____ (883 September _______ (8 2 October ________ _(881 ovember _______ (756 December_ ___ __ __ (515 roads) roads) roads) roads) roads) roads) roads) roads) roads) roads) roads) roads) 232,871 233,400 233,560 233,688 234,022 234,051 234,501 235,987 236,033 236 ,918 226,204 205,119 RECEIPTS OF COTTON AT SOUTHERN PORTS FROM J ANUARY 1 TO DECEMBER 31 IN 1909, 1908, 1907, 1906, 1905 AND 1904. Gross Earninqs. Full Y ear. Ports. 1909. 183 ,223, 014 174,497,319 205,708,319 197,0ll,539 201,625,122 210,357,226 219 ,964,739 236,559,877 246,065,956 260 ,613,053 242,115,779 202,408,624 1908. I nc. (+) or D ec. (-). s s 173,596,903 161,058,607 183,453,906 175,002,648 174,475,411 183 ,983,829 195,245 ,655 206,877,014 219,013,703 233,105,043 207, 16,169 190, 249,209 +9,626,111 + 13,438,712 +22,254,413 +22,008,891 +27,149,711 +26,373,397 +24,719,0 4 +29,682,863 +27,052,253 +27,508,010 +34,299,610 +12,159,415 % 5.54 8.34 12.13 12.50 15 .58 14 .33 12.66 14 35 12. 35 11.80 16 .51 6.39 It will be observed that in December the increase was relatively small. This is due to the existence of certain special adverse conditions. In the first place the weather over a good portion of the United States, and particularly the western half of the country, was unusually severe, extreme colct prevailing, attended by a heavy fall of snow. This cut down railroad traffic and added heavily to the cost of operation. In the second place a strike of the railway switchmen· on the transcontinental lines between St. Paul and Duluth and the Pacific Coast was in progress during the whole month. This strike began on the evening of November 30 and the first few days not only retarded railroad traffic very seriously but threatened to tie it 'up completely. The strike thereafter, however, lost its influence, as the roads found no difficulty in filling the places of the strikers with non-union men. Save in December, weather conditions throughout 1909, except in special localities , were favorable to good results, and this is particularly true of the early months, January and February, the winter then having been a mild one, though in certain limited sections there were some striking exceptions to the rule-Colorado, for instance, having suffered from an unprecedented snowfall. The chief influence in the great gain in railroad gross revenues was the revival in trade and the wonderful activity which came the latter half of the year in the iron and steel industry. This had the effect of increasing the shipments of coal, of ore, and of finished products over the railroads, and in various ways adding to the volume of their traffic . The shipments of coal and coke originating on the Pennsylvania Railroad lines east of Pittsburgh and Erie were for 1909 (53 weeks) 62,101,025 tons, against 54,555,267 tons in 1908. While the increase in this instance does not appear large, it must be remembered that a heavy loss in the early months of the year had to be overcome. A better idea of the part played by t he iron and steel industry in swelling railroad traffic is obtained from the fact that the production of pig iron in the twelve months of 1909 was 25,795 ,471 tons, against only 15,936 ,018 tons in the calendar year 1908. We may also note that the shipments by water of iron ore from the Lake Superior region for 1909 aggregated 41,683,873 tons, against 25,427,094 tons in 1908. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis As far as the agricultural tonnage of the road is concerned, this did not tend to swell the traffic of the roads. In the cotton movement, indeed, a large falling off occurred . The shipments overland were only 1,324,203 bales, against 1,616,257 bales in 1908, while the receipts at the ports were 8,623,752 bales, against 9,501,268. The falling off was entirely in the last six months, the gross shipments overland in the first half of the year having been 710,783 bales, again t 681 ,640 bales, and the port receipts 3,408,041 bales, against 3,043,028 bales. 1909 . I 1908. I~ _ : ~ _ : ~ ~ Galveston __ ___bales_ 3,052,438 3,663,535 3,002,472 3,189,408 2, 52,563 2,346,966 Port Arthur, &c_____ 343,846 154,891 ' 167,922 151,159 280,511 155,739 New Orleans _____ ___ 1,609,732 2,134,367 2,045,236 2,103,161 2,079,250 2,185,266 wi~~i~ola~-&c======= m:m1m:m m:m m:i~: m:ii~ i~t~~g Savannah __________ 1,536 ,742 1,493 ,264 1,538 ,156 1,507,892 1,776,841 1,435, 03Brunswlck___________ 296,747 283,772 ! 196,403 171,431 185,220 159,546 Charleston __ ________ 249,302 186,601 198,416 150,600 198,197 188,016 Georgetown________ _ 2,140 1,955 637 1,509 850 9 0 Wilmington ______ ___ 3 5,410 427,673 440,4 0 310,715 293,921 289,557 orfolk ____________ 579,354 5 0,353 5 3,959 555,235 855,5 9 585,024 Newport News, &c___ 27,164 7,169 37,792 22,136 33,784 20, 22 Total ____ ___ _____ 8,623,752 9,501,268 8,684 ,758 8,597,139 9,024,470 7,762,499 1 1 The grain movement also failed to equal that of .t he previous year. At the Western primary markets the receipts of wheat, corn, oats, barley and rye aggregated 636 , ~75;483 bushels, against 661,030,230 bushels: Only a small part of the falling off occurred in the first half of the year, when the deliveries aggregated 233,309,987 bushels, against 243 ,624 ,723 bu hels. The details of the Western grain movement are set out in the table we now annex. WESTERN FLOUR AND GRAIN RECEIPTS. Wheat. (bush.) Corn . (bush .) 26,970,112 20,519,269 90,630,821 90,643,773 87,665,758 25,9 1,914 1,423,350 91,603,232 23,5 9,515 1,537,168 7,743,505 10,895,842 6,021,000 3,865,000 8,891,100 13,637,400 1,048,840 12,944,400 15,956,833 1,320,500 21,013,026 18,531,603 22,209,400 21,847,637 1 ,201,640 25,155,005 2, 25,400 2, 84,4 9 249,913 319,927 4,550,400 4,435,790 4,058,100 5,343,300 3,387,600 3,746,500 6,555 200,60() 27 ,200 181,966 238,800 2,386,331 2,486,588 2,490,964 3,144,265 2,322,381 3,069,684 64,231 66,791 495,123 1,667,254 5,377,410 5,619,283 7,394,188 5,639,832 373,937 210,037 25,157 . 1909 ____ 2,454,048 1908 ____ 1,075,516 1,337,435 1,594,809 15,024,012 16,229,652 8,305,207 10,015,400 2,595,500 2,132,800 306,250356 ,000 52,871,001 55,349,693 1,275,80 33,923 4,954,735 10,350,565 5,910,144 8,565,007 593,502 72, 3() 79,837,030 91,109,446 5,094,035 4,747,110 Jan. I to Dec. 31. Flour. (bbls.) Chicago- 1909 ____ 8,482,857 1908 ____ 9,440,956 MUwaukee- 1909 ____ 3,464,608 1908 ____ 2,661,600 St. Louis- 1909 ____ 2,682,960 1908 ___ _ 2,710,160 Toledo-- 1909 ___ _ 1908 ____ D etroit- 1909 __ -1908 ____ Cleveland- 1909 ____ 1908 ____ Peoria- Duluth- 1909 ____ 3,124,890 1908 __ __ 3,990,111 Minneapolis 1909 ____ -------1908 ____ Kansas City- 1909 ___ _ -- -- - -1908 ____ --------- 33,183,840 10,875, 480 37,122,107 . 7,875 ,800 --- Oats. bush.) Barley. (bush.) Rye (bush.) 1,000 rn:m::rn ; ·~e~·~}1 ~--~ti8~ 9 6 ,065,000 ---- - --- ------- -- -- -5,176,700 - - --------- - -------- Total of alll 909 ___ _20, 455,560 230,453,803 163 ,057,030 161,111,48 75,371,385 6,38 1,77 7 1908 ___ _20,183,934 243,712,301 159,349,743 18'.l,074,307 71,343,352 6,550, 527 At the seaboard the grain re~eipts the first six months had been somewhat largE r than in the corresponding period of the previous y Jar, being 87,440,050 bushels, against 86,165,481 bm,hels, though the receipts of flour were only 7,362,156 barrels agains 8,412,332 barrels. For the full v ear the grain receipt were 201 ,871,110 bushels, agairu,t 218,165,430 bushel in the twelve months of 1908, 279,836 1 489 bushels in 1907 and 289,148,931 bushels in 1906. GRAIN AND FLOUR RECEIPTS AT SEABOARD FOR 52 WEEKS. Receipts of1909. 1908. 1907. 1906. 1905. Flour ___ _____ bbls_ 17,805,785 18,816,390 19,779,188 17,888 ,922 14,353,049 Wheat ______ bush _l0l,316,741 120,018,501 130,795,240 107,716,156 51,669,067 corn __ ________ ___ 47,356,213 44,981,837 8 ,236,754 96,472,906 112,906,317 Oats ____________ _ 44,650,823 43,450,996 53,486,594 77,231,982 72, 56,530 Barley __________ _ 7,406,015 G,804,685 4,853,480 6,158,005 14,038 ,883 Rye _____________ 1,141,31 8 2,909,411 2,464,411 1,569,882 1,465,360 Total graln ______ 201,871,110 218,165,430 279,836,489 289,148,931 252,936,169 In the case of the separate roads the gains in earnings naturally reached very large proportions, just as in the previous year the losses had been of enormous magnitude. It is unnecessary to enumerate these 74 RAILROAD EARNINGS. EARNINGS OF MIDDLE AND MIDDLE WESTERN GROUP. gains at length, though very naturally the Pennsylvania stands at the head of the list. We furnish below Year. 1909. 1907. 1906. 1908. 1905. 1904. --$ $ $ $ $ s all changes for amounts m excess of $1,000,000, Buff R&P r8,144,305 r6,701,341 8,866,671 7,467,336 8,567,433 7,696,052 r5,618,229 r5,043,676 r5,771,426 r5,896,069 5,833,724 5,382,569 whether increases or decreases. We need hardly say Chlnd&L HocklngV r6,324,470 r5,581,218 r7,121,718 r6,522,027 6,138,089 5,803,354 Ill Central b58, 962,326 b55,326,259 b60,563,931 54,277,180 48,957,268 48,669,356 that the list 1s made up entirely of mcreases, there LE&W.a r5,043,990 r4,361,158 5,066,940 5,212,810 5,037,293 4,970,992 Toi &O C 3,844,014 4,140,761 4,873,550 4,362,500 3,810,225 3,783,608 being no road which has sustained a loss of as much as To!P&W rl,111,049 rl,165,836 1,287,589 1,252,545 1,281,206 1,341,843 T StL& W 3,598,274 3,426,320 4,246,597 4,163,868 3,982,144 3,697,828 $1,000,000, and few that have sustained losses of Wh&LE r6,275,714 r4,992,249 6,521,673 r5,475, 732 5,174,851 4,289,433 any kind. Total __ 98,922,371 90,738,818104,320,095 94,630,067 88,782,233 85,635,035 PRINCIPAL CHANGES IN GROSS EARNINGS FOR 12 MONTHS. Increases. Pennsylvania ___ __________ y$31,359,400 Canadian Pacific ___________ 14,316,841 Atch Topeka & Santa Fe (7)_ 10,839,&93 Southern Pacific (12) _______ 10,035,464 NY Central & Hudson River a9,244,506 Baltimore & Ohio __________ 8,278,615 Union Pacific (3) _______ ____ 8,201,195 Chicago & North Western___ 7,394,774 Great Northern____________ 7,057,279 Chicago Burlington & Quincy 6,592,993 NY NH & Hartford______ 6,573,843 Missouri Pacific (3)_________ 6,282,035 Lake Shore & Mich Sou_____ 6,044,056 Rock Island (3)_______ _____ 5,807,355 St Louis & San Francisco (3) _ 5,764,600 Northern Pacific___________ 5,590,034 Norfolk & Western_________ 5,312,672 Southern Railway__________ 5,031,276 Chesapeake & Ohio_________ 4,612,413 Pittsburgh & Lake Erie_____ 4,456,327 Erle (2) _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 4,453,708 Boston & Maine___________ 4,343,875 Louisville & Nashville______ 4,309,866 Duluth Missabe & Northern_ 4,056,554 Illinois Central____________ 3,636,077 Cleve Cin Chic & St L ______ 3,415,124 Chic Milw & St PauJ________ 3,200,467 Michigan Central _ _ _ __ __ _ __ 3,193,328 Minn St P & S SM (2)______ 2,935,132 Duluth & Iron Range______ 2,881,952 Denver & R io Grande ______ Atlantic Coast Line ________ Philadelphia & Reading ____ Grand Trunk (4)_,__________ Wabash --- __ _ _ ___ _ _ _ _ _ _ _ _ Seaboard Air Line__________ Pere Marquet te_________ ___ Delaware Lack & Western__ Missouri Kansas & Texas___ Bessemer & Lake Erie______ Elgin Joliet & Eastern______ Canadian Nor thern_________ Buffalo Rochester & Pitts___ El Paso Southwest_________ Phlla Barto & Washington__ Chicago St P Minn & Omaha_ Lehigh Valley_____________ Wheeling & Lake Erie______ Union RR (Pa)____________ Delaware & Hudson________ San Ped Los A & Salt Lake__ Colorado & Southern_______ Texas & Pacific____________ Long Island_______________ Cin New Ori & Texas Pacific_ Cin Hamilton & Dayton____ Increases. S2,868,108 2,823,639 x2,673,565 2,542,845 2,483,530 2,150,477 2,023,218 1,916,515 1,890,809 1,871,874 l, 766,420 1,483,600 1,442,964 1,430,132 1,416,803 1,378,580 1,307,843 1,283,465 1,258,316 1,170,513 1,145,752 1,100,526 1,043 ,340 1,025,069 1,017,815 1,014,651 Representing 87 roads In our compilation ______ $248,550,035 Note .-Figures Jn parenthesis after name of road indicate the number of lines or companies for which separate returns are given and which we have combined so as o make the results conform as nearly as possible to those given In the statements urnished by the companies themselves. a These figures cover merely the operations of the New York Central itself. Including the various auxiliary and controlled roads, like the Michigan Central, the Lake Shore, the "Big Four," the "Nickel Plate," &c., the whole going to form the New York Central System, the result is a gain of $29,838,352. x Includes railway operations only. y These figures cover the lines directly operated east and west of Pittsburgh and Erle. The gross on Eastern lines increas.e d $17,267,600 and the gross on Western lines increased $14,091.800. From what has been said above with reference to the general totals, it follows that in the case of not a few roads the 1909 gains have fallen short of the 1908 osses. The roads of which this is true are generally the Eastern trunk lines and the roads running through the manufacturing districts. On the other hand, m the Western half of the country, owing to the high prices which farmers were able to obtain for their products, with the resultant prosperity of the agricultural communities, the roads quite generally are able to show improvement far surpassing in amount the previous year's shrinkage m revenues. In the following six-year comparisons of the earnings of leading roads, arranged in groups, this distinction is clearly brought out. It wiH be observed from the totals of the different groups that while all show very striking improvement in 1909, following the contraction in revenues in 1908, aggregate earnings for only two of the groups, namely the Northwestern and North Pacific group and the Southwestern and Pacific group are equal to t : e aggregates for 1907. EARNINGS OF NORTHW, ;STERN AND NORTH PACIFIC GROUP. Year. 1909. 1908. 1907. 1906. $ $ $ $ 1905. 1904. $ 54,711,836 8,004,100 52,309,617 59,087,802 12,390,066 2,938,678 47,717,681 2,788,309 3,518,909 $ C an Pac __ 85,527,174 71,210,333 75,638,544 67,752,255 48,714,665 C hlcGtW* c9,757,390 c8,981,659 r8,643,517 8,729,748 7,733,139 C M &StP r61,302,253 r58, 101,786 r60 ,283, 902 57,979,454 48,743,057 C h&NWd r69 ,810 ,533 r62,415,759 r69 ,338 ,590 66,429,880 53,705,091 CStPM&O r14,177,752 12,799,172 r13 ,694. 109 13,417,880 11,480,169 D sos &A r3,055,222 r2,574,727 r3,298,866 3,120,299 2,498,576 G t Nor Sys a57,748,422 a50,691,143 a59,921,050 54,705,448 41,334,649 I owa Cent r3,224,026 r2,918,482 r3,134,467 3,051,067 2,484,860 M lnn&StL r4,559,276 r3,935,693 r4,063,407 3,685,671 2,832,958 M Inn St P &SSM e21,814,123 18,878,991 20,711,656 19,515,681 16,982,266 14,146,718 N orth Pac r70,887,282 r65,297,248 r72,175,434 b64,692,454 56,710,143 48,897,631 s tJ & Gr! rl,564,991 rl,599,823 1,709,507 1,579,488 1,458,353 1,282,040 Total __ 403,428,444 359,404,816 392,613,049 364,659,325 318,617,760 283,853 ,553 * Mileage reduced In July 1904 from 929 to 818. a Actual figures are used for comparison beginning with the last six months of 1907 b Proprietary lines not included after June 1906. · ,c Beginning with September includes In 1909 and 1908 the Mason City & Fort Dodge and the Wisconsin Minnesota & Pacific. d Includes trans-Missouri lines. ,e Includes Wisconsin Central for all the years. r Figures are on the new basis of accounting prescribed by the Inter-State Commerce Commission. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis a Includes the Northern Ohio. b Beginning with JUiy 1907, figures Include some large Items of income not previously included In monthly returns. r These figures are on the new basis of accounting prescribed by the Inter-State Commerce Commission. E ARNINGS OF SOUTHWESTERN AND PACIFIC GROUP. Year. 1909. 1908. 1907. 1906. 1905. $ $ $ $ $ AT & SF _c 100,001,066 89,161,173 97,330,121 85,020,061 C &S Sys br15,628,444r14,527,918r14,475,389 12,510,188 Den & R G r22,332 ,127 rl9,464,019 r22,136,141 20,389,152 Int & GrN r8,255,148 r7,503,380 r7,954,182 7,752,107 Mo K & Tr25,665,385r23,774,576r26,148,821 23,159,324 MP&CenB 49,394,522 43,112,487 49,182,037 46,587,556 StL &SF _f 50,846,428 45,081,828 51,739,438 44,601,212 St Ls w_ rl0,594,303 r9,694,050r10,477,404 9,736,797 South Pac 127,692, 744117,657,280 132,428,519113,586,845 Texas & P r14,960,653 rl3,917 ,313 r16,671,664 14,914,608 Union Pac 83,961,212 75,760,017 80,187,752 70,490,706 73,629,187 10,644,852 18,219,253 6,515,688 20,459,997 . 42,518,269 39,368,071 8,701,946 99,648,203 12,130,391 63,608,662 1904. $ 66,974,014 8,465,680 16,440,471 5,880,130 19,043,575 43,693,616 37,342,697 8,337,655 92,641,800 12,433,147 56,821,210 Total __ 509,332,032 459,654,041508, 731,468 448,748,556 395,444,519 368,073,995 b For 1909, 1908, 1907, 1906 and 1905 Includes all affiliated lines except Trinity & Brazos Valley RR., and for 1904 includes Colorado & Southern, Fort Worth & Denver City and all affiliated lines without any exception. c Atchison figures for 1909, 1908, 1907, 1906 and 1905 Include earnings of the Denver Enid & Gulf RR., Pecos Valley system and Santa Fe Prescott & Phoenix Ry. / Includes Chicago & Eastern Illinois. r Figures are on the new basis of accounting prescribed by the Inter-State Commerce Commission. EARNINGS OF SOUTHERN GROUP. Year . 1909. 1908. 1907. 1906. 1905. $ $ $ $ $ Ala Gt Sou r3, 769,597 r3,359,234 r4,050,470 Cent of Ga rll,467 ,327 r 11,006,893 r12,310,456 bhes & o_ r28,882,510 r24,270,097 r28,189,556 C NO& TP r8,381,468 r7,363,653 r8,625,267 Louisv& N r47,818,549 r43,508,683 r48,608,049 Mobile &O rI0,024,166 r9,199,537 rll,077,296 N Ch&StL rll,276,396 rl0,551,123 r12,326,929 Norf & W. r31,956,440 r26,643,768 r33,097,720 South. Ry r54,366,747 r49,335,471 r57,166,680 Yaz&M V. al0,089,442 al0,0.74,844 al0,220,241 3,942,648 11,643,275 25,322,229 8,615,228 r45,856,765 10,034,201 11,546,933 29,686,565 55,353,297 9,412,977 3,478,831 10,531,081 22,130,119 7,671,415 39,624,355 8,539,680 10,192,404 26,191,843 49,819,714 7,931,323 1904. $ 3,215,804 9,957,994 20,106,363 7,058,524 37,629,928 8,055,803 10,378,507 23,229,099 47,028,223 8,468,947 Total __ 218,032,642 195,313,303 225,672,664 211,414,118 186,110, 765175,129,192 a Beginning with July 1908, Includes some large items of Income not previously Included In monthly returns. r These figures are on the new basis of accounting prescrlbe'd by the Inter-State Commerce Commission. EARNINGS OF ANTHRACITE COAL GROUP. Year. Cent of NJ Lehigh Val NY O &W NY S &W Phil & R.d 1909. 1908. 1907. 1906. 1905. 1904. $ $ $ $ $ $ 25,873,207 r34,353,822 r8,399,230 3,420,575 42,250,346 25,455,032 r33,045,979 r8,155,469 3,113,624 39,576,781 28,086,934 37,032,961 r8,216,140 3,366,461 45,872,065 24,838,721 24,257,831 22,126,832 33,591,852 33,043,975 30,429,687 r7,533,725 7,455,200 6,845,317 2,839,298 2,852,893 2,740,793 40,782,938 40,147,371 35,446,677 TotaL __ 114,297,180109,346,885122,574,561109,586,534107,757,270 97,589,306 d These are the earnings of the railroad company only; the resU!ts of coal-mining operations are not included In any of the years. r Figures a re on the new basis of accounting prescribed by the Inter-State Commerce Commission. EARNINGS OF TRUNK LINES. Year. 1909. 1908. 1907. 1906. 1905. 1904. $ $ $ $ $ $ Bait & O.a r78,149,259 r69,870,644 r83,357,868 r80,552,847 71,755,673 65,200,262 CCC& St L r27,657, 741 r24,242,617 26,447,804 24,594,915 22 517,763 22,141,108 Peoria& E r3,026,856 r2,728,154 3,010,347 3,059,280 2,960,725 3,051,198 Erie _____ 52,679,810 48,226,102 54,516,254 51,167,847 47,832,190 45,106,925 GrTrCan.b 41,093,000 38,550,155 44,900,468 41,559,345 37,990,117 34,086,339 LS & MS r45,110,997 r39,066,941 44,953,474 42,544,378 38,600,811 35,161,053 Mich Cent. r27,415,467 r24,222,139 28,547,110 26,275,587 23,283,869 21,492,945 NYC&H_/ r93,171,860c83,927,354 98,369,060 92,089,766 86,095,599 78,573,205 Pa-E of Pitts & E 153,564,471136,296,871164,812,826148,239,890133,921,990118,145,094 WP & E 84,428,482 70,336,682 88,984,022 80,522,307 72,013,535 64,039,543 Wabash __ r27,439,594 r24,956,064 r27,434,923 r26,467,456 23,579,261 24,562,857 TotaL __ 633,737,537 562,42~. 723 665, 734,156_617,073,618 560,551,533 511,560,529 a Includes for the last six months of 1909 and 1908 the Cleveland Lorain & WheelIng Ry. c This Is on the basis of accounting prescribed by the Inter-State Commerce Commission; on the old basis of accounting earnings for the calendar year 1908 were $88,849,368. b Includes Canada & Atlantic beginning with October 1904. !Boston & Albany, as also the Beech Creek RR., the Walkill Valley RR., the New York & Ottawa, the St. Lawrence & Adirondack, the Ottawa and New York, and the Fall Brook system, Included for all the years. r Figures are on the new basis of accounting prescribed by the Inter-State Commerce Commission. We now add our ·full detailed statement embracing all roads for which it has been possible to procure or to make up the figures for the last two calendar years. 75 RAILROAD BONDS. GROSS !<:ARNINGS LAST TWO CALENDAR YEARS. Gross Earnings. nc. (+) or Dec.(-). 1908. Name of Roaa. Jan. 1 to Dec. 31. 1909. Mileage. 1909. Name of Roaa. 1908. ---- 1909. Jan. 1 to Dec. 31. Gross Earnings. Inc. ( +) or Dec.(-). 1908. Mileage. 1909. 1908. --- $ $ $ $ $ $ 1,114 1,114 +824,629 9,199,537 143 Moblle & Ohio.c •• 10,024,166 +92,112 143 1,527,287 1,619,399 Ala & Vlcksburg_c 58 65 776,456 +410,046 1,186,502 309 Monongahela. ____ +410,363 309 3,359,234 3,769,597 Ala Great South.c 7 7 +447,627 Ann Arbor. ______ 446,788 894,415 300 Monongahela Conn 300 +22,183 1,703,333 1,725,516 1.230 1,230 +725.273 10,551,123 11,276,396 Nash Chatt&StL.c 108 -22,523 108 984,269 961,746 Ariz & New Mexico 165 165 733,695 +613,615 1,347,310 9,870 Nevada Northern. 9,889 AT & S F(7 rds) .c 100,001,066 89,161,173 +10,839,893 113 276 +531,494 480,490 1,011,984 642 New Orl Great Nor +661,679 641 1,698,091 2,359,770 Atl Bltm & AtLc. 196 196 +443,167 2,835,246 3,278,413 88 New Orl & N E.c. -21,161 88 71945,698 71924,537 Atlanta & West Pt 13 13 +177,438 371,737 549,175 237 Newlforgh & So Sh +119,331 237 :z:686,984 :z:806,315 Atl & Blrm Air L. 3,587 3,587 +9,244,506 4,483 4,408 N Y C & Rud Riv c 93,171,860 83,927,354 +2,823,639 Atlantic Coast L.c 27,892,100 25,068,461 329 340 +549,123 2,674,190 Atlantic City _____ Chic Ind & Sou.c 3,223,313 167 167 +181,086 1,766,729 · 1,585,643 247 247 977,974 +199,717 Clnclnnatl Nor.c 1,177,691 3,992 4,198 +8,278,615 Balt & Ohlo.c .•• _ 78,149,259 69,870,644 1,982 1,982 +3,415,124 CCC & St L .c.. 27,657,741 24,242,611 546 515 +156,038 2,681,694 2,837,732 Bangor & Aroos.c 91 91 +38,636 11235,721 Dunk All V & P 11274,357 21 21 1,920,109 +216,489 2,136,598 Belt Ry of Chicago 95 105 +420,257 Indiana Harb B 111,646,544 111,226,287 201 +1,871,874 201 7,112,825 5,240,951 Bessemer & L Erie 43 43 -8,452 ·1178,146 Kankakee & Sen -32,132 25 7169,694 35 747,727 715,595 B lrm & Southern. 88 88 +24,676 71504,876 2,242 LE All & Wheel 11529.552 +4,343,875 2,243 Boston & Maine._ 41,812,383 37,468,508 886 886 +682,832 L E & West.c. _ 4,361,158 5,043,990 Buffalo & Susq. __ 712 ,212 ,373 711,810,184 +402,189 361 372 1,507 1,662 +6,044,056 L S & Mich So.c 45,110,997 39,066,941 +1,442,964 567 568 6,701,341 8,144,305 Buff Roch & Pitt.c 1,746 1 ,746 +3,193,328 Michigan Cent.c 27,415,467 24,222,139 46 +183,590 46 71966,853 Butte Anac & Pac yl ,1 50,443 2 2 715,150 + 382 Mt Gil Sh Line. 3,094 715,532 +1,483,600 3,180 9,339,600 Canadian North.c. 10,823,200 70 70 +11,661 NY & Ottawa . • 11137 ,434 9,916 9,426 11149,095 Canadian Pacific.c 85,527 ,174 71,210,333 +14,316,841 556 558 +854,750 9,221,457 294 NYC & St L.c. 10,076,207 2,221,877 +584,166 278 2,806,043 Central New Eng_ 351 351 2,728,154 +298,702 668 Peoria & East.c 3,026,856 +418,175 668 Central of N J .c •. 25,873,207 25,455,032 191 191 +4,456,327 1,916 Pitts & L Erle.c 14,838,948 10,382 ,621 +460,434 1,916 Central of Georgiac 11,467,327 11,006,893 Rutland _c _____ 468 468 2,7 55,203 +347,229 411 3,102,432 +324,567 411 713 ,3 58,200 713,033 ,633 Central Vermont._ 65 +65,4Q8 65 71464,256 340 St Law & Adiron +148,741 341 11529,754 1,358,333 1,507,074 Charleston & wear 2,046 2,045 +6,573,843 1,939 1,896 NY NH & HartL 57,777,899 51,204,056 +4,612,413 Chesap & Ohio.c •. 28,882,510 24,270,097 546 546 +243,761 8,155,469 +811,848 998 998 N Y Ont &, West.c 8,399,230 Chicago & Alton.c 13,033,119 12,221,271 151 151 +306,951 3,113,624 7,635 N Y Sus & West.c +7,394,774 7,638 3,420,575 Chicago & Northw 69 ,81 0 ,533 62,415,759 582 593 2,224,324 +360,460 9,023 Norfolk & South'n 2,584,784 +6,592,993 9,021 Chic Bur & Quincy 82 ,420,652 75,827,659 1,921 1,942 +5,312,672 285 Norfolk & West_c_ 31,956,440 26,643,768 1,127,330 +354,458 285 1 ,481,788 Chic Cin & Louisv _ 5,681 5,838 +5,590,034 1,487 1,476 Northern Pacific .. 70,887,282 65,297,248 +775,731 9,757,390 8,981,659 Chic Great West.c 373 +122,144 367 616 616 Northwest Pacific. 4,598,432 4,476,288 5,043,676 +574,553 5,618,229 Chic Ind & Louisvc 7,512 7,511 Pennsylvania-Lin es East o.t Pittsburgh +3,200,467 Chic Milw & St P. 61,302,253 58,101,786 4,024 4·,017 +169,695 255 255 Pennsylv RR.c. 153,564,471136,296,871 + 17,267,600 1,489,089 1,658,784 Chic Peoria & St L 5 +45,719 5 1,730 Balt & Spar Pt. 83,475 37,756 +1,378,580 1,739 Chic St P M & 0 - - 14,177,752 12,799,172 88 +22,113 88 90 Balt Ches & AtL 71555,931 11533,818 71975,607 +58 ,433 90 Chic Term TransL 711,034,040 162 162 +259,188 1,036 1,036 Cumberland Vall 2,668,951 2,409,763 7,610,473 +1,014,651 8,625,124 Cln Ham & Dayt_ 392 392 Long Island____ 9,808,589 8,783,520 +1,025,069 +1,017,815 337 337 7,363,653 8,381,468 Cin N O & Tex P .c 84 -34,414 84 93 1,006,493 +155,187 93 Md Del & Va.. 71331,255 71365,669 1,161,680 C lev Term & Vall. 112 112 +481,592 Coal & Coke ••. __ +97,254 191 191 NY Phila &Norf 3,163,264 2,681,672 687,517 590,263 463 466 1,980 1,951 +998,843 +1,100,526 NorthernCent .. 12,257,631 11,258,788 Col & Sou (4 rds) .c 15,628,444 14,527,918 714 716 55 +29,449 +1.416,803 792,013 762,564 55 Phll Balt&Wash 17,543,371 16,126,568 Colo & Wyoming_ 3 +3,341 3 +257,051 338 338 Rosslyn Connect 7118,930 7115,589 2,390,387 2,133,336 Colo Midland.c . •• 9 -89,855 9 844,794 33 33 Un RR of Balto 1,312,721 1,079,484 +233,237 754,939 Cumberland & Pa. 371 356 Del & Hudson. ___ 19,598,552 18,428,039 +1,170,513 845 +502,710 84 5 West Jer &Seash 5,469,328 4,966,618 +1,916,515 931 893 Lines West of Pitts burghDel Lack & West. 34,815,010 32,898,495 2,886 2,884 2,555 2,552 +2,868,108 Directly oper(2)c 84,428,482 70,336,682 +14,091,800 Denver & Rio Gr.c 22,332,127 19,464,019 148 -11,248 148 79 79 783,888 +144,123 798,122 809,370 Cine & Musk'm. 928,011 Det & Toi Shore L 210 210 347 348 +409,437 1,109,673 +81,613 1,830,762 1,191.286 Clev Akron &Col 2,240,199 Det & Mackinac.c 590 -28,708 588 4,355,344 1,511,132 441 441 +506,886 1,482,424 Grand Rap&Ind 4,862,230 Det 'I'ol & Ironton 248 -54,787 248 5,768,129 +2,881,952 168 168 1,165,836 8,650,081 Tol Peo & west. 1,111,049 Dul & Iron Range_ 829 Vandalia______ 9,136,288 827 +4,056,554 273 8,582,660 +553,628 289 Dul Missabe & Nor 1112,098,033 i/8,04 1,479 28 +6,161 28 2,574,727 +480,495 600 593 3,055,222 Waynesb&Wash 71116,546 71110,385 Dul So Sh & AtLc 2,354 2,330 +1,766,420 742 Pere Marquette ..• 15,210,417 13,187,199 +2,023,218 4,631,446 770 6,397,866 238 2,170 Pitts Shaw & Nor. +4,453,708 2,230 +179,479 241 52,679,810 48,226,102 804,984 984,463 ~~~jst 1,007 1,024 310 310 Phila & Readlng.c 42,250,346 39,576,781 2,107,901 +144,148 +2,673,565 2,252,049 Evansv & TerreHc 262 + 1,430,132 867 867 Quincy Om & K C +91,307 262 7,430,883 6,000,751 741,011 832,318 El Paso & Southw 83 3,069,872 + 401,929 584 584 Rich Fred & Pot._ 1,896,134 +264,139 83 3,471,801 2,160,273 Florida East Coast -82,476 180 +92,990 84 84 Rio Grande Sou.c. 180 829,165 736,175 589,474 506,998 Fonda Johns & GL 8,025 307 8,034 2,744,804 +107,840 307 Rock Isl (3 rds) .c. 64,037,268 58,229,913 +5,807,355 2,852,644 Georgia Railroad.c 319 +367,121 395 395 St Jos & Gr Island -34,832 319 2,222,048 1,854,927 1,599,823 1,564,991 Georgia So & Fla.c 6,041 4,528 4,528 St L & S F (3 rds) c 50,846,428 45,081,828 6,038 +2,542,845 +5,764,600 Gr Tr Sys (4 rds) .c 41.09:J,000 38,550,155 9 9 +7,057,279 7,100 6,899 St L Mer Bdg Term +274,636 1,533,071 · 1,258,435 Great Northern.c. 57,748 .422 50,691,143 1,470 1,470 -9,536 225 225 St L Southw(2rds)c 10,594,303 9,694,050 +900,253 580 ,705 590,241 Green Bay & West 727 727 +206,143 307 307 San Ant & Aran P _ 3,797,672 3,517,799 +279,873 2,019 ,956 1,813,813 Gulf & Ship Isl. . . c 1,099 350 347 San P L A & S Lak +1,145,752 1,105 6,324,470 5,581,218 + 743,252 6,909,256 8,055,008 Hocking Valley .. c 2,995 2,987 630,807 +27,509 70 70 Seaboard Air Line 17,767,054 15,616,577 +2,150,477 658,316 Hunt & Broad Top 7,014 4,550 4,550 Southern Ry _c __ _ 54,366,747 49,335,471 7,0 50 +3,636,067 +5,031,276 Illinois CentraLc. _ 58,962,326 55,326,259 237 7,503,380 +751,768 1,159 1,159 Southern Indiana. -18,637 237 8,255,148 1,310,300 Internat & Gt N .c 1,291,663 Iowa CentraLc. __ 9,625 9,763 3,224,026 2,918,482 +305,544 558 558 Sou Pac (12 rds) .c 127,692,744 117 ,657,280 +10,035,464 141 2,034,245 +279,917 175 177 Spokane Internat. 141 2,314,162 +100,211 Kanawha& Mich.c 71701,719 71601,508 994,703 733 543 Syrac Bing & NY 81 1,604,435 +609,732 934,366 +52,328 81 KC Mex & Orlentc 986,694 26 8,33 5,076 +752,429 827 827 Term Assn of St L 9,087,505 2,212,297 +293,573 34 Kansas City Sou.c 2,505,870 23 1,885 , 1885 560,967 542,233 +18,734 23 Texas & Pacific. __ 14,960 ,653 13,917,313 +1,043,340 268 97 711,224,805 71902,569 +322,236 97 Texas Central.c. __ 1,014,855 +47,688 268 t!:g: fr°u~ 1,062,543 440 1,440 -296,747 +1,307,843 1,446 Tol & Ohio Cent.c 4,140,761 440 Lehigh Valley .c. _ 34,353,822 33,045,979 3,844,014 109 -256,059 109 706,000 +112,826 170 170 1,048,401 Lehigh & New Eng 818,826 792,342 451 3,426,320 226 +171,954 451 1,255,421 1,105,101 +150,320 226 ~~rmar:1 : 3,598,274 Louisiana & Arkan 6,029 6,359 +4,309.866 4,598 4,388 Union Pac (3 rds) .c 83,961,212 75,760,017 +8,201,195 L ouisv & Nashv .c 47,818,549 43,508,683 31 218 1,097,778 956,689 +141,089 2,339,969 +1.258,316 31 200 Union RR (of Pa)_ 3,598,285 Louisv Rend &StL Maine Central. ___ 171 8,126,579 +544,538 932 932 Vicks Shr & Pac.c +47,445 171 8,671,117 1,426,882 1,379,437 Midland Valley ___ 324 188 923,797 +248,731 1,088,820 +29,084 188 324 1.172,528 1,117,904 +24,631 128 Mineral Range_ c. _ 837,813 813,182 130 = 27,43 9, 594 24,956,064 +2,483,530 2,514 2,514 36 Washington South 861,591 +139,384 1,000,975 36 Minn St P & S S M (2 roads) .c. ____ 21,814,123 18,878,991 442 +2,935,132 3,523 3,330 Wheeling & L Erie 4,992,249 458 6,275,714 +1,283,465 543 177 658,191 650,242 + 7,949 +735,906 543 177 Western Maryland 715,768,983 715,033,077 Minnesota & Inter 1,027 133 3,935,693 +623,583 1,028 Western Ry of Ala Vl ,014,138 133 4,559 ,276 71987,570 + 26,568 Minn & St Louls.c 1,371 164 1,371 757,030 53 8,499 +218,531 150 Yazoo & Miss Vall c 10,089,442 10,074,844 +14,598 Mississippi Central 9,926 726,728 53 +4,194,681 10,280 740 ,09 5 +13,367 53 317 minor roads .• 36,134,230 31,939,549 Miss Riv & BonnT 223 682,539 371,053 +311,486 365 Mo & Nor Ark •.•. -- - - +1,890,809 3,072 3,072 Gr. total (531 rds.) 2696786503 2412570651 +284,215,852 238,073 234,582 Mo Kan & Texas. c 25,66 5,385 23 ,774, 576 i_-;-' 6,491 6,488 Net inc. (11.78 %) +6,282,035 Mo Pac (3 roads) c 49,39 4,522 43,112,487 :-it x rhese figures are for ten months only . 71 These figures are for eleven months only. c rhese figures are furnished by the company .~~~~ ~~J!°cf f it~~ *~~~c ~~ff:~t.t -~ ~:~ CO URSE OF PRICES OF BONDS ON Nl!JW YORK STOCK EXCHANGE, 1905 TO 1909. 1900. BONDS. JANUARY FEBR'RY, MARCH. APRIL. ---- - - - ---- ---- MAY. Jmn:. JULY, AUGUST. SEPT'BER. OCTOBER. NoV'BER. DEC'BE - - - - - - ---- - - - - - - - - - - - ----- - - - Low.High Low.High Low.High Low.High Low.High Low.lllgh Low.High Low.High Low.High Low.Rig ,. ,.ow.High l,ow.Rlgh - - - - -- - Ann Arbor-I et, '9:i,ar,4 Atch. Top. & S. Fe.General, a-old, 199:i.4 Reglstered . ... ....... 4 Convert.,1rold, 19:i:i.4 Adiustm't, a-,, 199:i, 4 Rearlstered ........... 4 Stamped, guar ...... 4 Deben. ••E," 1901... ,4 Deben. "G." 1909 ... 4 Deben. "H," 1910... 4 Ea ■ t.Okla.»IT., l ■ t.4 96¼- 98 99 - 98¼ ll8!,,(-100½ 1!9¼- 99~ 99¾ -100 103¾-104¼ lOi -104½ 104 -105 102¾-103 . - ... 102½-102½ 100!,ji-101½ . - . .. . 103 -103½ 94¾- '.}5:14' 'cJ5¾- 97¾ 96½- 97¼ 96¼- 97 .. .... 93½- 97¾ - .... 96¾- 97J,4 96 - 97 94¾- 96 96 - 98 .... .. .. .. .... - ... .... .... ·- .... .. 99¼- 99¼ .... .... 99½- 99¾ .... .... - .... .... .... https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis .... .... - ... .... ... .... - ... .... .... .... .... - .... .... ........ ... - ... 102¾-103¼ 103¼-104¾ - . 103 -103 106 -110½ 105 -109 98½- 93½ 91~- 91!'4 100¾-101 98¼- 90 92¾- 93 92¾- 92¾ . ... . - .. ... .... - ........ .... 99¼- 99¼ 09¾- 99,¼ 90 - 99¼ 08 - pg - .. --9:3¾- pg 9 -i¼ -100 ]03'-( -105 103!}(-104~ lOi¼ 106 l02 ¼\-103¼ lOl!ij-102% 102 -103 101~ -101 102~.;- 103 . - .... 103¼- lOl¼ lOl~-10~ 101¾-103¼ 102 -105~ 10!~-106 103½ 105¼ 102¾-105 101:M-103 99 - 99¼ 99 - 99¼ 93¼-- 94¾ 93¼- 94 96¾- 97 97 - 99 - ... - . .. . - , . - ... . 05 - 9:5 - . 9i - 96¾ 94¾- 95 05 - 97 96¾- 97¾ 96¾- 98 9! - 94¾ 93½- 9i~ . . - .. .. - .. . - . . 99¾- 99¾ . - . ·••· - . - ... . . - . . . .- . . ·· •· .. 99¼- 99 - ....... ... 98~ g9~ 101½-101½ 101!1(-102¼ 102¼-102¾ 102¾-108¾ 101¼-10~ 101¼-102 101 -1023-( 101)4-102 Ol½-101 . . 102 -102 131~-131'¼ - . ... .. ... . - . . l14.¾-1141k, . - . . .. . . . . - .. l00_¼-100¼ . - . 1:)1 101 . . .. . - .. . 97 - 97) 95¾- 95½ 05 - ll5 - . . 96¼- 07¾ 95¼- 96¼ 95¼- 95¾ 95%- 97% 95½- 07¼ Ov%· 96¼ 96 - 1!6 104 -105 105¾ -l Otl¾ 105¼-106 105 -105½ 103 -108½ 102 - 103!,t 10:l¾ 103 .... 10! -10~ 105 -105 10!½-10!¾ 102½-102:J., 102),4-102¼ 102 -102 . 113¾-114 · ·• - ... . .. . - ··- · Yl~- 91 91¾- 92½ 92¾- 9 ¾ 93 - 9J .... 90½- 91 91½- 92 98 - 9&~ !l8)4- 99 99~-100½ lOOJ.ij-100~ lC0¼-101 98¼- 90¾ 99)4-100 9&¾- 93;!4 9l½- 93).fi g~¾- 93 92¾- 03~ 91 - 92½ 92 - 93 . 92 - 93 .... - .··• .. . - .. - . .. . . ... 92¼- 92¼ .... - 101~-103¼ 103 -104 101¾-102~ . . JOO -103 100¼-101¾ 96 - 97½ 96 - 97¼ .... - .... . ... - . ... .... 94 - 95¾ - .... ... - .... .... - .... 99¾- 99¾ ... - .... .... - .... ... - .... .... - .... - .... ... - .... .... - . ... .... - .... .... - .... .... - .... .... ..: -··· .... - .... -103½ lOOll:(-102¾ 100¾-102½ 101¾-1 l'i½ - .... .... - .... . ... - .... .... - .... .... - .... .... - .... .... - .... .... - .... .... - .... ...... - .... .... - . ... .... - ... .... - .... .... - .... .. .. - .... .... - .... .... - . .... .. - .... .... - ..... .... - .... .... - .... .... - .... .... - .... .... - .... .... 95 - 95!)4 95¼- ll6½ - 95½ 95 A.ti. Coast L.-lst, ar ... 4 101 -102½ 102 • Registered .... ........ 4 .... l!iav. Fl.& W., lat a . ti .... Ala.Mld .,1st,192S . . ~ - .... . Brun &W,,l11t.'3S.4 . Sil. "• Ocala & G, .... 4 L,&N.coll. a,, 19~2 -4 ·• ·· .... B. & O.- Pr. l.,ar.'2~.3¾ 94¼- 96 95 - 96 Gold, 1948 ....... ...... 4 103%-104¾ 104¼-105½ 104¼-105 Re1rl ■tered ........... 4 104¼-104~ .... - . ... 103 -103 Conv. deben., 1911 ... 4 105 -106¼ 105 -109¼ 109 -110½ {13¼- 93¼ Pltt ■ .Jc.&M. Div.3¼ 91½· 92¼ 92 - 93 P.L.E.& W.Va.Su.4 99¾-100½1100 -101 100¾-100~ s. W. Div., lat, 1r .. 3½ 92 - 93 92¾- 93 92½- 93½ Re1rl ■ tered ......... 3~ - ... ... 100 -101 .... ... .... ... .. ... ... ... .... ... . .... - .. .. . .... ... .. .. . ... ... .... .. .... .. .. .... - .... ... .... ... .. .. - .... .... - .... .... - .... ... ... .... .. . .... ... .... .... - .... ... .. .. - .... .... .... ..... - .... ... - .... .. - .... .... - .... .... .. . ... ... .. - .... ... ... .. ... .... ... ... .... ... ·-·· .... ... .... ... - .... .... .... .... .... .... .. .... .... - .. .. .... .... .... .... .... ... ... .... .... .... ... .... .... .... .... .. ... .... ... - .... RAILROAD BONDS. 76 1906 - Continued. JANUARY FEBR'RY MARCH. BONDS. APRIL. MAY. JUNJ:. JULY. AUGUST. 8EP'TBER. OCTOB ER. N0V'BER. DEC'BEB~ - - - - - - - - - - - - - - - - - ------1---- -- - - - - - - - - - - ---- Low.High Low.High Low.High Low.Hii;tb Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High -------·- - - - - - - - - - - - - - - - - -·Bait. & 0.- Con.)Mon. R., 1 .. t u;u. g ... ~ .... Cent. O. Reora-.lst.4½ .... Pitts.& W., lst,'17.4 .... J. P. M. & Co ctfs... . . . . Buff. Roch.& P.-Gen.~ .... - .... R. & P., l11t, 1921 ... 6 126¾-126½ Con9ol., l8t . ...... . . ti 124¾-124~ Buff.& 8Ul!Q.-1 11 t, ref 4 98¾- 99 Can. Soutb'n-t 8 t, a-u .:i 102¾-103~ ~d morta-o.u;e . .... .... .. ~ 107 -108 C.H. U.Po.c.-lst,g ... 4 94 - P4 -Oent. RR. & B .• Go. .. . ~ 110 -1 10 Central ot Gn.-lst ... O 121 -121 Con8ol., 194 ~. gold .. ~ 113 -113¾ lst pref. Income ... .. O 90 - 92 2d pref. Income . . .. ... ~ 69 - 7:!¼ Stamped ...•••.•••••. ~ - ..• . 108}9-108½ •.• - - .. 109 -109 98 - 98¼ 98 - 98 119¾-119½ . . .. 126 -126 1!8 - 98½ 103¼-104 LOS -109 . 112 -112 ... - ... 113¾-115¼ 9L - 92½ 67 - 74¾ 07¼- 97}.i LOO -100 •••• 99 - 99 - . . . . 120 -121½ 120¼ 123¼ 123 -123¼ .... - .... 123¼-123¼ .. .. - .... 124½ 121½ . ..• - ... . 124 -124 . .•• 125¾-125~ 126 -126 - .••. 126½-1~6½ .. .. - .... 129 -129 130 -130 1!8½- 991,i 99 -100 \..l 100 -100½ 99~-100½ 98½- 99¼ 98¾- 100 100 -100)1i ... 99½-lCO 103¼-104 103½-103% 103!1:(-104~ 104½-104~ 102 -102¾; 102¼-103½ 102l}.!-103¼ 102½-103¾, 103 -103~ l03~-104 105¾-106)4 105;1,a-106½ 1'05½-1117 106!1(-107 107¼-107½ 108¼-109 104~- lOf> 104¾-105½ 105¼-lOJ~ L07 -107 - ... . 121 -121 115 -115½ 91 - 93 67½- 74¾ - ... . 67 - 62½ 56 - 59¾ 62½- 60 95 - 95 95 - 95 112 -112 120 -121½ 115¾-116¼ IH¼- 94 74½- 78J.1 .... 69 - 62½ 94½- 94½ .... ... - .... 119 -119 119½-119½ .... - . ... 113 -114 113½-114 113¾-115 92 - 94½ 9J:¼;- 97~ 96 - 96½ 74½- 81 so;.- 85 83½- 86 108¾-108~ . . . - ... ll9¾-119¾ l~O -120 .•.• 120 -120 114 -115 114½-115½ 115¾-116¾ 113¼-114¼ 113 -114½97 - 99 98 -101 95¼- 96¾ 95!,4- 9Li¼ 95~- 95¼ 85½- 87½ 85 - 88¼ 81 - 83~ 80 - 82.½ 80 - 82 F2 - 82 ~1 - 81 59 - 66½ 67 - ':'3¼ 73 - 78¾ 77.J.&- 80 79 - &½ 76 - 78½ 74¼- 'i7¼ 75¼- 76M. - .... 93 - 931¼ - . . . 115¼-116~ 3d pref. Income .. . .... ~ Chatt. Div., 19/H- .. 4 Macon & N.D.111r .. . :) .... Mid.Ga &At. u tv .. ~ .... 110¾-110~ 110:kj-110¾ . .. Mob 111v .• 1st ........ 0 .... - ... 115½-115">t> -.. - ........ Cent. of New J er11ey-r>i Gen. mort., 1987' .... ~ 134 -135¾ 136¼-136~ 135¾-136¼ 135¼-136¾ t35¼,-136¼ 136 -136¼ 133¾- 134 134 -1 34¼ 134¼-1:'!4:U.132~-135 132¾-134½ L34¼ 134¾ Reu;llltered .... . ... ... ~ 13:l¼-134 135 -1:l5¾ 134 -134 134 -134¼ 134¾-lai¼ 134¼ -135¾ .... - .... l3:•i:¾ -l:l:l'h l:l2¾-l32¾ 182¼ · 133~ 1~3 -133¼ 131~-138 Am. Dock & Imp ...... ~ 113 - 113 112¾-113 113¾-113½ 115 -115 114½-114½ ll4~ lHx, 112 -112 112¼-113 - .... ll3!'(-ll3~ l13ll,! 11~ L. & W ., mort., '1~ .. ~ 103¾-104¾ .. .. - . . 103¾ ·104½ .... - . . .... - ...... . - .. .. tOll).(-102 ICon. ext., '10, u;u .431 lOlll,!-102¼ 102½-102l}j. lu2 -102¼ 102 -102¼ 102 -102~ 101¼-101¾ 101>(-101¾ lOIM-102 102 -102 102 -102¼ 102¼-103 lOl -101M. Chesapeake & Ohloeerle11 A, u;old, 190~U.i 107½-107!,s, •••• - .. 108),tj-108¼ . ... 106 -106 .. .• - •... .••• ... . - .... 104¼-104;4 •••. - . . . •.• Mortu;a11 e, 1911 ....... 6 .... - ... . 111 -111 .... - . . . ... 108:l,!-lu8 ~ .... - .. .. 110 -110 . ... - ... 111½-lll½ .... - .... 108¾-108¾ LOO -109},i l8t, con., g., 1939 .... ~ 118¾-119¾ 119~-119½ 118½-119½ 119,fr-122 117¼-118 117%-118 118 -119½ 118¾-119¾ 118½-l.9¾ 119¾-121 llS¼-118)1. t18 -119 Rei;rhtered .......... ~ .... - ....... - . .. 116¾-116'A . .• . .... - . ... .. .. - .. . 11 7½-117½ Ll6¼-11614 Genei-n.1, 199~ ...... 4½ 107½-109 108¾-110 105¾-106J1, 106¾-108 107½-103 107¼--108 107¼-109¼ 109¾- 111 107½-108¼ l07'!,i-10',¾ 107 -108½ l 07 108?,( Re 11 11iitered . ... ... . 4½ .... - ........ - . . - . . . . 106¾--lOi½ . ... - ... . . ..• - .....••• - •.. . .••• - .. . 107¾-107~ ... - .••. Cralu; Valley, ht ..... ~ . ... - ........ - .. . 113 -113 .... - ........ R.&A.D.llltcon.'89.4 101¾-102¾ 102¾-103½ 102¼-103'k! 102½-103 103 -103¾ 103¾--104 101),tj-102 101¼-101¼ .••• - •... 103~10:l½ 103¼ 103½ 104¼-104~ 2d con11ol., 1989 .... 4 .... - .... 98½- 98½ 97 - 97 . {;8 - 98 - .... 98 - 98 ..•• - .....••• Warm !'Ip. Vall., lst.l> .... - .... 113¼-113¼ . ..• - ... .. ••. _ - ...... .. - ••..•..• - •.....•. - •••. . •.• - ... . .... - ..•..••• Greenbrier, J st, a-u.4 .... - ,.. - ... . .. .. - ....... - .... . ... - ... . 100 -100 . ••• Cblc.&Alt.-Het.'49 .. 3 84¾- 85 86 - 85½ 86 - 86¾ 84¾- 85 84½- 85~ 84¾· 85½ 84¾- 86 84¾- 85 84½- 85 82¾- 83¼ 8~¼- 83¼ 82¼- 88~ Railway, 19l>0 ........ 3x, 80¼- 83 82 - 82~ 81¾- 82¾ 81¼- 82¼ 80½- 82½ 80),d- 82 79¾- 80½ 80 - 83½ 82!,t- 83J,( 81 - 82¾ &O½- 81½ 79½- 80JJ( Registered. . .. . 3~ . . . . - . . . . .. . . - . . . . 80¼- 80¾ . • .. - . • . • • • • - . • • . .. • • - • . • . . • • • - • • . . . • • • - . . .. . • • • - .. . .. . - •••• Chic. Burl. & QuincyDenver Div., 192~ .. 4 101¾-102 101 -101 101¾-101¾ .•• - •... 1023,(-102¼ 102 -103 103 -103 100¾-100¾ 101¾-101¼ 101¾-101¾ lOl¾ 102 LOl¾-102 Illinois Div.,194b.3½ 95½- 96½ 96½- 97 96¾- 97¾ 97 - 98 97 - 98 97¾- 97¾ 95¾- 96¼ 961}4- 96¼ 96 - 96~ 96 - 98¾ 05½- 96~ 115¼- 96K Reu;lstered ......... 3~ .... - ... . 96),tj- 96¼ .••• - ....••• - .•...••• Iowa Div., 1919 ..... ~ 110¼-llOJ,,s .•.. - ... . .... - •....... - ........ . .. - ........ 1919 ... ............. ... 4 ... - .... 103¾-103~ 103%-103¾ 103 -103 .••• - •... lul¾-108 ...• - ... . 102¾-102¾ .••• - .... 101½-101½ 101¾ lOllk; .. Nebr'ska Ext., 192,. .4 1063,(-107 107 -108 108 -108),d 108:¼-108!,t •••• - •••. 100¼-106¼ 107 -107 •••• - ... . 107¼-107¼ 107 -107 105\,(-106 106 -106 Reu;t ■ tered ........... 4 .... - .... 106½-106½ . .•• - •.•..•.• - •... 1003'-10614 ..•• - ..•..••• - ••• . .•.• S. W. Ulv., 19~1 ..... 4 .... - ........ - .... 100 -100 •••• - ......•• - ... . ..•• Debenture, 1913 .... . ~ 107 -107 107 -108 107),4-107¾ 108 -108½ ...• - •.. . 106 -106 106¾-106),tj 107 -l<md 107½-107½ . ••• - ... 102 -106 Han. & St. J., con11 .. 6 .... - .... lllM-112 .... - .... 114: -114¼ 11~-1~ ••.• - .... 114: -114 - •• 111),4-111~ 111¾ -112 Chic. & Ea11t. 1 lllnols"' :y Refund. & Jmpt ...... 4 .... - ........ 97¾- 97~ l ■t, slnklnii tund .. . . 6 105 -105 106¾-106¼ ..•• - .... 107!1.(-107~ .... - .... 104%-104¼ 105¾-105:k, ..•. - •... 105¾-106!l{i 106;fi-106h, 10:{i}s 103~ lstconsol., u;old ....... 6 133¾-134½ 136'¾-137 138 -138 135 -135 137½-137~ 137½-138 138½-138½ ... - .. . •• - ....... - ... . L36¾-185½ l35¼ 135¼ Gen. cons. 1st, 1937.i) 118¾-121 120¾-121 120M-120¾ 121 -122 118½-119~ 119 -120¼ 120 -120¾ 122 -122 L21¼-122 L21:l:(-121¾ . •• - .•. 1171)4-118),( »Reu;lalered ...... ~ .. . . - . . lll}½-119½ •.. - ... .. •.. - ... .. ... - .....•. - .•• .. ... - .. . Ch.& In.U'I Ry ,lst.l> ·.... - ....... - .. . 120 -120 121¾-121¼ . ... - .... 118¾-118hJll9¾-119~ .... - ... 120 -120 Ch. Ind. ,1l l.ou.-Ret.ti 134 -134¾ 135 -187 135 -136¾ 135 -135 - ....... - ... 184 -131 .... - ... . 135 -.l~5 L35¼ -135½ 135¼-135¾ 135¾-135J.( Refunding, 1941 ..... ~ .... - .... 115 -116J.1? . ..• - . ... lU -114 112 -112 . ... - ........ - .... l18½-113½ 116½-115½ 115½-115¼ Lou. N. A. & C., l8t.ti 109¾-lOJ:l,v 109),fi-1011½ ... - .... llO -110¼ ..•• - . .. 1 ll¾-111¾ ..•. - ... . 110),tj-ll{}¾ 109!!:£-109:U UO -110 110¾-110¼ .. .• - •.•• ~.M.& St.P.-190:} .... 7 178 -180 183 -184 187 -187 .. .. Terminal ............ .. ~ 109:)a-109¾ 110¼-110½ .... - .... 111 -111½ 111¾-lll¾ 111½ 111¾ .•.• - •.•...•• - .... ll0½ ·110½ .... - ... . 110 -110~ Gen. M.,"A" 1989 ... 4 112 -112 112 -113¼ 112),tj-113~ 112¼-113½ 113¼-113½ 112¼-112¼ 110½-lll 111 -111 U0¾-110¾ llO¾-llL 111 -112 ll0¾-111¼ Gen. M. "B" 1989.3½ 98¾- 98¾ " .• - •....••• - .... . ... - ... . .... - . . . 99 - 99 97 - 97 97 - 96 96%- 96¼ 97 - 07¼ 97½- 97½ Chic. & L. So Div ... . ~ .... - ... . .... - ... . .... - . . . 116¾-116¾ . ..• - . . . - ••.. ll5¼-115¼ . ..• Chic. & Mo. R. Div .. ~ . . .. - . . 119¼-lW½ . • • • - ••.. 120 -120 119¾-119¾ . .. - . . . . . . . - ....... :- - . . . .. • . - . • . ll8J,4-lldi){j . . . Chic, & Pac. Dlv ...... ti 110 -110},j ll()M-11~ 111~111¾ . ... - ....... . - .... 1111,g-111¼ ... - ... . .... - .... .... - •. . 109¾-109~ 110¼-110½ LlOJ..(-110~ Chic. &Pn.c. W. Div.~ 116 -117¼ 116½-116~ 116¾-117¼ 117¼ -117¼ 116½-117~ 117 -117½ 114¾ 116¼ 115¼-116 . ••• - .•.. 115½-llfl 116½-116¼ Ll~-1183' Dakota & Gt. So. , ... ~ 112¾-112}1. .. . . - •.. . 112 -112 .. . . - . . .. .. . . - .. . . . . • . btH.&D.Dtv ....... 1114~-114¾117 -117 115¼-117 llb31j-ll5½115¾-116 .. .• - •... 1.13¾- 113~ .••• let I. & D. Exten . .... , .... - ... .. ... - .... 183%-184 185 -le5 .. . - . . . . .•• - ••• . 195 -Ifill 1 18t1 La C. & D., '19.i) .... - ....... - ........ - ... . 116 -115 115¾-115¾ .••. - •••. L13ll,!-11SM Mineral Point Div ... ~ . . . . - . . .. . . . . - . . . . . . . ..:. .... 106¾-106~ . . . • - .. .. . . . • l•t So. Minn. Dlv ..... 6 110),4-110½ 110¾-111 11()¾-111 . . .. - .... . ... - ... . 111 -111¾ 103½-109 .••• - ••. 109%-109%109½-110 109¾-110}( ht So. West. Dtv ..... 6 109½-109½ 109¾-109½ .... - .... 109%-109¼ 109¾-110 - ... . 108),tj-108>11 .•• • Wl8.& Min. Div .. .... :J 115¾-115~ .••• - ... 116¾-115¼ 116½-116¾ 116½-116~ 116½-116¾ .... - ••.....• - .... 115!,t-115½ 115!,t-115}( M. & N., 18t, 1910 ...6 .... - ....... - ... . 112¾-112¾ .... - ... . .... - ••.. 110 · 110 ..•• M.& No., 18t on ext.6 ll~-11~ .•.. - ... . .... - ....... . - ... . 115¾ lld:i..( . • • • - • . . . . . . - •... Ohle. & Northwest •. . 7" 129),4-129¼ 128 -128½ 128 - 128¼ 128¼-128½ 126!,4-127¼ . • • • - .... 127 -127 L27½-127X! 127½-1~7:k{ ..•. - .... 126 - 126 .Extension 1886·~6.4 . . . . - . . . . . . . . - . . . . . . . - . . . . . . . - . .. .. . . - ••.. 105¾-105¾ .••• - .•. .. •• - .... 104¾-104;!4 LO!l¾-lOi¾ Rea-l8tered ......... . 4 .... - . ....... - ........ - ........ - ... . .... - .. . . 102;Ja-102M . • • • General, 1987' .... . 3¼ 99%-100¼ 101 -101 99¼-101 100~-101 99¼ - 99½ ..•• - ••.. 101 -101,t 101¾-101~100¼-101~4 lOl -101½--•• - . ... gg - 99 l!Unklnu;tund, coup .. 6 .... - •... 118 -118 117¼-117½ 118 -118 .. .• - . . 114½-114½ . .•• Reu;l8tered .... ....... 6 .... - ... . 117 -117 ..•. - •.. . ••• - ... ... •• - . . . . .. . . - .. .. ll4 -114 Sinking; fund, coup .. . :J •••• - •.. . 113 -113 . • . • - •••• 110¼-110¼ • •• • - • • • . . . . • - ••• . 113½-113½ 110 -110 HO 111 . •• Reu;lstered ... .. . ..... :J ••.• - •••..••• - •••. 111 -111 l03¼-10874 . .•• ~:J yrs. deben., 1909.:J 104½-105 105½-106¼ 105½-100 .••• - •••.. .• • - •• . 10!1: -105¾ 104%-105¾ ..• ; - •.. 105 -105 105¾ 105~ 11,3 -lOJ½, ..•• 3U-year deb., 1921 .. ~ 112½-112½ 112!1(-113¾ ..•• - •••...•• - .... 111½-111½ 112 -112¾ 113),4-113¼ .••• - ••.. 114)4-114¼ i.ll¾-111¾ .. Debenture, 1933 ..... :'i ...• - •... 117¾-118½ 119¾-119¾ 119¼-119¼ 117 -117 .••• •••. 119 -119 ll8 -118 116 -116 . . . • - ••. 115 -115 Reu;l8tered .......... :J •• •• - . . . . . . . . - ... . 115¼-115¼ . . . Korth . IHlnol11, l8t .. :J .... ... - ... . .... - . .. . 105¼-105¼ Ott.O.F.&St.P.,lst.ii .... - ... 107 -107 104¼-104¼ . .•• - •.. 105 -106 .••• - .... l04 -104 Win. & St. Pet., ~d .. 1 .... - .... 110),4 110¼ .... M.L. S.& Wht.,•~1 .6 129¼-129!,t ...• - .... 130 -130 . •.• - •••. l29>4-129!J;t .••• - .... 126¼-126¾ - . . . . 127¾-127¼ • • • Ext. &Imp., 19~9.~ .... - ........ - • . llS¾-118¾.... - .... L20 - 120 Mich. Div., lat ..... .6 131¼-131¼ . .•• Conv.deb.,1907 . .. ~ .... - ........ •••• •••• - •••. 106½-105¾ .... - ••••••.• C. R. I. & P. Ry.-' 17. ti 122½-122¾ 128 -126 123½-123½ 123¾-124 •••• • -&. • • • .. • • - •••• 120¾-121¾ 121!1(-121!¼, . • • • - •••• 122*122¼ 122 -192 122 , -122 Rea'i■tered . ... ....... . 8 . . . . - . . . . . . . - . . . . . . . . - . . . . . . . . - .... 123 -123 • • • • - •• • • • • • • - • • • . • • .. - ••••• '-'. - • • .. • • • • - .... I.... - ... . .... - .••• https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 77 RAILROAD BONDS. 190:i-Continued. BONDS. JANUARY FEBR'RY. - - - ---- MARCH. ---- APRIL. MAY. JUNE. --- --- ----- JULY. ---- AUGUST. SEPT'BER. OCTOBER --- ------ NOV'BER. DEC'BEB. - - - - --- Low.High Low.~igb Low.High Low.High Low .High Low.Hhrh Low.High Low.H lirh Low.Hil? h Low.Hi1th Lo w.£Ii11h Low.Blah Chic.&. I. & P.-lOon,) General, 19SS, ll••···4 10!J,.(-1061k! 105~-107 106¼-1C6'U 106½ -106¾ 108¾ ll7 11)6}.f-107½ 105¼-106 105¼-106 105%-10531, 105½-105" 105 -]05 1. 105J4-106M , ... - . . .... - .... ··•· - . ... l (H¾-104¾ . . - . - . .. . ... . - ... .... - ... . ... - .. .. Reaist•red ..... .. 4 P5%- 91!-9 95 - 96 PB½- 117¼ 97 - 98¼ 98~ 99 06¾- 97 05 - 96¼ 95½- 97 l ■ t & refund., 1934.4 97 - 99¼ 98¼ 91'1,1. 97½ - 93\½,', 95¼- 96 .... - .. ... Coll.tr., eer. I, 19 l 1.4 - ... . . - . .. . - ·•• · . ... - ... . .. - . 117½- 9 7½ ... - .... ... - . ... Series J, 191~ ...... 4 .... ... . ... .. . ... - ... 96¾- 98,t: - ... . .... - .... ... - .. · ••· - .... ... . ... .... .... . ... - ... .... Serie• L, 1914...... 4 - ... ... - .... . ... - .... - .. - ... . 98¼- 96¼ ... . .... - .. 96 - 96 . ... Sertee M., 191~ .... 4 . 97 - 97 ... .... - . .. . ... .... 95 - 05 - ... · ·•• SerleeO, 1917 ..... 4 .... . ... - . .. . .... - . ... 98¼- 96½ .... - . ... .... - .. 95 - 95 94½- 94¼ - .. ... . - ... . ... - .. ... Ro.Uroad, ~002 ...... 4 81½- 88 82¼- 83 ¼ 81¾- 83½ 82 - 85 79 - 81¼ 79~- 82½ 82¾- 83 82½- 84½ 83¼- 84¼ 82 - 84¼ 78 - 81 78 - so~ .... - ... . .... .... . .. . .... . ... - . ... Reirlstered . ........ ..4 . . -. - .. .. ... - . 79 - 79 - .... .... Coll. tr., 1r•• 1913 ... :) 95 - 97¾ 96½- 93 93½- 95¼ 92½- 05¼ 90½- 93 911¼- 91 ~ 94 - 94lJ;l 94½- 97 93¼- 94½ 92 - 94,½ 89~- 92 ¼ 87 Burl. C.R.& No.lat.~ 101¼-lOl!)a 102},ti-102¼ 102½! ·102½ 102½!-102 ½ .... - . ... 100¾-101¼ 101 -101~ 101½-102 101¾-102¾ 102}:(-102~ 1021)s-102½ l CO -1003'. Oona.1st & col. tr .. ~ ... 120½-120,½ 121¼ ·121½ 118¾-118½ 118¾-120½ 119¾ 119¼ 121 -121 119¼-120 120!ij-120¾ 118½-118½ .... 118!)a-118M,. .. .. - ... . ... - .. . . .. - .. .... - . ... C.R.I, F .&N. W. let.~ - .... . .. - .... . 111 -111 .... - . 108 -103 Ch. Ok. & G., 1919 .. ~ .... . .. ... . - ... . 110 -110 115 -115¾ 110}.ti-110¾ lat, consol., 19~2 .. ~ .... ... ... .... ... . .. 115 -115 . ... ... . - . .... - .... - . - . . ... Keok. & Des M., 1st.ii .... - .... .... - .... 11~-llO!M 109 -109,½ 109)4-109¼ .... .... .... · ••· - ... 110 -110 . - .... 110½-110½ Ohle. St.P. Min. & Om.6 133~-184¼ 135!,6-136 138¾-138 137 -137¼ 138 -138 134¼-137¼ 187¾ -137¼ 137½-137~ 137~ir137!1.( 138¾-138~ 138%-139 135½-135¼ Chic. St. P.& M.,lst .. ti .... .... - .... 135)4-135¾ 135½-135¼ - .... .... - ... . - ... . 135 -135?1, .... - .... .... - . ... ··•· - .... .... - ... . . St. P. & S. Clty-bt .. 6 .. .. 125½-125½ 125},ti-125¼ . .... 123½-123Xi 12a!};(-124 1241,(-125 .... ... 122½-123 .... - . ... . ... - .... Chic. Term'l Transt .. 4 86¼- 90 97 - 97¼ 97 - 97 97 - 97 97 - 97 97 - 98!.t, 96¼- 97 .... - .... .... . 98¾- 99~ 99½-100¼ 99 -100 Ooupoo off........ 4 84lk!-97¼ 94¼- 95¼ 94),4- 95¼ 94¾ - 95 94~- 95½ 95 - 97 94 - 98 94½- 95 9i½- 95 95 - 99 ll7!Ji- 9;} 97¾-100 Chic. & W. lnd.-Gen.6 ... - ... 115 -115 ... . 113¼·113¼, ll5 -115 114½-lU½ 115 -115¾ .. . - .... 118¼-113¼ . - .... . Cln. Day. & Jr.-lllt, .. ~ ... . .. - .. .... .117¼119 117¼-118 1' 6 - 116 .... 117%-117~ 117¾-117~ ... - .... ··•• Clo. Ind. dk W. '~3 .... 4 98¾- 09½ 98 - 99¼ 98¾ 98¾ 98:1,(- 99½ 99 - 99 .. - ... 96¾- 96¾ ... - . .. . .... - .. .. - .. . .. Clev. Ctn. Ch. & ~t.L.4 101 -103 103 -lOi 102¾-103J.i? 102½-103)~ 102½-103~ 101)4-102~ 102 -103½ 103 -1031}4 103)4-104' 103¼-10! 103½·104¼ lOZ¼-108 Catro Div .. 1st. ... . ... 1011):( -102 .... 102 -102¾ . ... 4 .... - . .. lQ0¾-100¾ ··•· - ... .. - .... 101 -101 . ... - . ... 100 -lOOiki . Clo. Wab.&M., lst.4 .... - . .. . 98½- 98~ 100%,-10~ - .... ... - . .. ... . ... - .. .. - . .. 100}.!-100¾ lOl!J,f-101¾ 102¼-102)4 St.L.Dlv., let.1990.4 100%-102 102½-lO!l~ 102 -102¼ 102!1.(-103 '100%-101¾ 101¼-102 102~-lOZ¼ 102¼-103¼ 103 -103 103~103¾ 101¼-102 10:J:l(-101~ Sp. & Col. Div., ls i .4 - ... . 99¾- 99¾ . .... ... - .. .. .. - .... ... ... .... - . .. . ... - . - .... . ... .... . ... - .... . . C. I. St. L. & U.,'3ti.4 ... .... 101½-101½ 100¼-101 lOl¾-101¾ 103 -103 . ... ... . 102¼-102½ 101~-101¾ Realstered . ...... 4 .. . ... . - ... . ... - . .. I0~¼-102½ 101,½-101¼ - . - .. . - .... 101¾-10 ' ¼ . .. - . ... -112 .. .... Oln. San. & Cl. con ■ .~ 112 114¼:-114¼ .. .. - · ·• · 114 -114 112¾-112¾ .... - ... - .... .... - . ... 115¼-115},j 115 -115 c. c. c. & I., COD80l.. 1 ... - ... ... - .... . - .... - ... l~l!l.(-12ll)ii ·· •· - . .. 123¼-123¼ ... - . .. . .... - .... Gen. coneol., 1934 o .... - ... 134 -184 ... - ... ..... - .... 135 -135 - . . 131¾-131¾ 132¼-132'.¾ 134¼-184½ 135 -135 .... - ··- ... - . .Peo. & E., 1st, con11 .. 4 98!1.(-100 99¼ 100 99¾-100 98 - 99½ 99 -101 100~-100¾ 100¾-101 99¾- 99¾ 99¼-100 98 -100 100 -100 lOJ -101 Jncomee, 1990 . .. .4 73 - 7tl½ 76 - 82 80 - 84 72 - 80¾ 71½- 74~ 7-l¼- 74:14 73 - 74¾ 74 - 78½ 74¾- 75½ 731,g- 75 73 - 75½ 75~- 78K CJ.Lor.& Wheel,,'31. -~ .... - ... . ... .... ... .... - ... ... - .... .... - ... - .. .. .. . - .... . - ·•• · . - ... . ll5¾-115¾ .. - . .... .. .. .... .. Clev.& lU. Val ,'38 .. :l 116½-116½ · ••· .... · ••· - .... ... - ... .... - . ... - ·•• · . .. - ·• •· - .... ... Col. Mid. ht, 1941' .... 4 73!)a- 75¼ 74¼- 76 76}&- 77 75 - 76 74 - 75½ 7!½- 78¼ 73 - 75¾ 75 - 76¼ 74¾- 75¾ 78½- 75 73½- 75¼ 75 - 78U Col. & So.-lst, a-.'~9.4 91¼- 94½ 90}.- 93½ 92 - 94 93½- 95¼ 93¾- 94¼ 9i - 95 9i¾- 96½ 93¾- 94¾ 93¼- 94 93}&- 94½ 93'.¾- 94¾ 93¼- 94¼ Delaware & Hud•onJ .... . ... . .... . '" .... 134 -134½ l ■ t Pa. Div., UH '7 ... 7 - ... ... . ·.. . - .. . - ... . .... .... . .. .... f-1b. & ~UIIQ., 111t. jlU., .... .... - .... 103)4-103¼ .... .... 102},ti-102¼ .... - .... 101¼-101¼ let, 1ruar., 11106 ... ti 104¾-104~ 104)4-1043,4 106¾-106~ 102¾-102¾ 102½ 102~ 102 -102 102;1,!-102¾ 103¾-103~ 103¾-103:14 100¼-100½ 101¼-101¼ 101¼-101~ . .. - . ... Renss. & l!Jar., lst ... 1 .... - ... . ... - ... . 142¼-142)i .... ... . .. .... · ••· - ... ·• •· Del. Lack. & W.-'0'7,1 110 -110 11014-110),( 108 -108 ... - ...... ... - .... . ... .... - ... 106½-106¼ 10 1¾-106¼ 106¼-106¼ ... - . ... . ... 129¾-129¾ 126 -127 126~-126!,,i .... - . ... .. . - .. . ... Morrie & EHex, l ■ t. 1 .... - .... 128)1}-128½ .... 130 -130 123¼-123¾ 12~-126¾, Coneol., iruar......... , .. - .. . 130¼-130¾ 130¼-130½ 1301-fl-130¼ 181:l(-131~ 128¾-128¾ 128½-128¾ - .... 126%-129¼ 127½-129¾ 130½-180½ 12J¾-126~ ... . 127 -127 .. .. ... . . ... Rea'l ■ tered ......... 1 130 -130 - . ... ... - .. .. ... . ... .. .... · · •· · •· .... 12Q~-129¼ 129¼-129¾ ... - .... 129½-180 lS0½-130½ . 127¾-128¼ . N.Y. i.... & W., lst ... . ti' .... 129 .-129¼ 128¾-129 .. . - . . ... .. . 112¼-115 ... 118¼-113¼ 118!1,!-113!W Conetruct'n, 19~3-~ - ... .... - .... ... - . ... - .... - . .... 104 -104 ... - .. Term'I & lmpr'mt.. 4 103 -103¼ 104 -104 103~-105 - .. . .... 10!½-105 lO!!J.(-105 107 -107 . .. ... - -·· 1053,i-105½ 105%-108 107 -107 lOC\¾-106½ ... - .... ... Syr. Blna-h. & N. Y. .. 1 106"-107½ l03¾-104~ Denver & Rio GrandeConsol., 1936 .. ...... 4 100 -102 101¼-102 101 -101~ lOO!J.(-101¼ L00}.!-101~ 101¾-102½ 100½-101 101 -102~ 101¼-102 101 -102 101~-102 101~-101!1( .. - .... . .. - . ... .... - ... 106l)4-1061).t .., - . ... ... - . ... .. - .... l ■ t, conaol., 1936 .. 4¼ .... - .... 108 -109½ ... - .... 108 -108 - . .. 109½-lOU½ 109½-110 108 -103 107¾-108 109¾-109)4 109¾-110 ... - .. .... .... 106¼-109 Improvement, 19'lS.~ 108 -109½ 109 -110 99½-100 99¼-100 9U½-101 97 - 99¾, 98 - 99½ 99¾-100 99!):(-100 99;14-100¼ 98½-100 Rio Gr. " est,, 1 ■ t ... 4 98¼- 99~ 99 - 99¾ 9iJ}4-100 Mort. & coll. tr.,A.4 89 - 94½ 92 - 94~ 90 - 94 90 - 92¾ 91 - 91~ 91 - 91½ 91¾- 91¾ 91¾- 92 92 - 92!,6 90 - 91½ 90 - 91 91½- 91¼. .... , ... .... - ... .. ... .... - ... .... - .... . - ... 101 -101 . ... - . ... . . ... . .... - . Det. &Mack.-let lleo.4 96 - 96½ .. . 06¼- 97 .. . 95¼- 95¼ Gold ........ ............ 4 95 - 95 - ... 95¼- 9J,s 96"- 961':1 . ... - . .... ... . ... ... - . ... .... - . .... ... - .... - . Detroit So.-lst, '~1. 4- 70 - 72 80 - 84 81¾- 81~ .... · ••· 93!),j 92 93¾- 96¼ 93¼- 93)4 93½- 93½ 93¼- 93¼ 91 - 93 92 - 98 92½- 92½ 92½- 94 Ohio ~o. Div., let.... 4 90 - 923,t 92¾- 96½ 113 - 93½ 114 114),{1-114½ . ... - . .... -114¾ .... ll6 -116 115 -115 .... . 114¾-lll½ ... ... 114*114½ Daluth & I. R.-t ■ t ... /i ... - .... 115¼ 116 - . .. . ... 113¾-113~ 114½-114-½ 114 -114 - .... .... - ·-· Dul.S.S.& Atl.-193'7.~ 111½-lll!J;\ L12l,6-114 114½-114}1, 115 -llo 118½ 118½ LlB¾-11~ us -119½ 120 -120¾ 120 -120½ 120~-120:14 .... Elll• Joi. & E.-lst, a- .. 1) 117¾-117¼ ... - .. .... ·•• · 120 -120 Brie.... - . - .... ... - ... .. .... - . ... l ■text., 1947 .... .... 4 - . . ... - . 107 -107 .. . ·••· lOSl!i-108!'4 109 -109 .... . 110½-110¼ - ... .... . ... .... - . 109 -109 3d, Ext., 19~3 ....... 4!,6 107¾-107½ ... - .... 114½-115¼ 113}:(-113!,t . .. . lH½-114½ .. . ... . .. . 114½-114½ 115¼-115¼ 4th, Ext., 19~0 ....... I) ... - ... 117½-117~ - .... . .. - . ... . ... . ... ... - .... . - . ... · ••· - ... 6th, Ext., 19:l8 .. ... .. 4 101¼-101!,i 103 -103 - ., ... .. .. - .... 136¾-187 133 -133½ .... - . ... 184½-13<&½ . .. .... . ... - .... 182 -132¼ 132¾-132¾ 133 -lrn la2¾-188 l ■t, consol., arold .... 1 181)¾-137 1st con. prior llen, 1r.4 100 -102 l vl½-102 LOl¼-102 101½-102 l01¼-l<,2l,i 101%-103½ 100½-101¾ 101J,.(-10J,½ 102½-103 lOl¾-102~ LOl½-102½ llll -102~ .... - . ... .... - .... . .. - . ... 101¼-101½ - ... . .... Re1rbtered ........... 4 ... - .. ... - . .. . - .... .... - . - ·••· .... - .... 1st con.1ren. I., '96 .. 4 91 - 92¾ 91¾- 92¾ 92½- 93½ 92¼- 93½ 92¼- 93½ 93¼- 95 92 - 93¼ 93¾- 94¼ 93¼- 94¼ 94- - 94½ 93 - 94 92¾- 91 ¥eon, coll. tr., 19~1.4 95 - 97½ 94½- 95¼ 9474- 95!,,i 94½- 95 ~4>!i- 95½ 95 - 96 96¼- 9d~ 96 - 97 95¾- 96½ 91}¼- 96 95½- 96¼ 114%- 95¼ 30-yr. couv., 19~3 .. 4 95¾-10371. 103½-109 107¾-111 105><(-108 103 -106,li 103½-105½ 105¼-108¼ 107¼-114¼ lll¼-114 106}&-110 108 -109¾ t06~ 108¾ . .. - . ... l27 -127 .... - .... - . Buff-. N. Y. & E., lst.1 - ... .... - ... . 126¼·126½ . - ·•• · , - .... - . .. .... ... ... - .... .... - . ... ... . .. . .... - . .. . ... Buff. & S. W ., ll'•,' 08,6 - ... . ... .... 105 -110 .... Ohle. & Erle, 1st, a- .. /l 121½-122½ 123 -123 122¾-123½ 123½-123,½ 120½-121¼ 121½-122½ 122¼-123 123 -123!14 123¼-123¾ 124~-125½ 122¾· 123 121 -12l'Ja . - .. . 102~-102¾ 103 -10.l .Jeff"erson RR., 1st .. ~ - 101¼-104½ .... .. . .. - .... 102\ll(-102~ - ... 105 -105 .... - . ... .... . .. 134½-134½ . - ... .... ... · ••· .. . .. . - .... .. .... 13.!¼-1 -4¼Lona- Dock,cons.'3~.ti 184114-135~ 136½-136½ 136¼ 186¾ .... 115¾-115¾, ... Dock & lmpt. Co ..... 6 .... 116 -116 ... - ... . - ... 115¼-116½ - . .. .... ... - ... - . N. Y. & Greenw. L .. G 117 -117 . .... 121 -121½ .. . .... - . ... - ... . ... - .... 117 -117 .... MldJ'd of N.J., let ... ti - . ... .... .. ... - . ... 108½-108½ 100¼-110 110¼-llO'A - . .. . 110¼-110¼ 107¼-107% ... - .... .... .... .. - .... .N, Y. Sus. & W., ref.~ 114~-115½ 116 -116 116 -116 116 -116 .... - ... ... - ... . ... ... 116¾-116~ . .. .... 102½ -102½ 104 -104 .. . 101 -101 101¼-lOa . .... 2d, 1931 .. ......... 4¼ .... . . ... - .. .. 102¼-102¼ 106!1(-107¾ 107},.(-107½ . ... •· - ... .... - . Gen., a-old, 1940 .... r. 110½-111 109 -109 110 -110 110 -110 J.10½-110~ ... - .... ··•· ... 119¼-119¼ 118.)d:-118¾. . . ... . . 'l1erm'l, let, 1943 .. ~ 117½-117¾ .... - .. ... . WRk.& E., lst,'4'1./i 109%-109% .. .. - .. · ••· .... - .... .... ... .. . .... - . - ... . .... - . .. . ... . 114 -114 .... - ... ... . . ... Bvan. & lnd.-l•t con.6 113~-l13;J.i 114 -114 - .... · •• · B•an ■v. & T. Haute1:&4 -124 .... 120¾-l~l 120},.(-120~ 122 -122 .... .... Con ■ ol .................... 6 123~-124¾ 128¾-123½ . - . ... .... 1st, a-en., 1942, a-old./l - ... .... - ... 106}&-106),,i 107 -110½ 110½·110>11 110¾-111 111¼-111¼ 112 -112 110 -110 110~-112 111 -111 .. .... .... .... -116 -114 ... . . ... . .. . . .. . ... .... . ... 116 114 ... . Mt. Vernon, lst ....... 6 Pt, W.&D. C.-lst.... 6 108¼-112'A 109½-111½ 109¼-113 113 -114½ 113 -114 109½-111 109¾-114¾ 114: -115 118 -113¾ 113 -114 113 -114'.¾ 111 -118 IJO½- 92 90 - 90 80 - 99)4 89½- 92 90 - 90 90 - 92 96 - 96 89½- 019' Pt. W. & R. Gr.- lst .•4 85 - ~6 86¼- 87½ 89 - 89 90 - 91 101 -101 .. 105ki-105½ .... - .... 102½-102~ ... - , ... . Qalv. H. & H. ot'e~.. ~ 105!,6-106½ · ·•· - . .. . · ••· . ... - .... ... - .... . ... G,No.-C.B.& Q. cl.tr.4 99 -101½ 99¾-1007,1i 99}11-100¼ 99½-100 99½-104¼ 10 ~½ -103¼ 101 -10l% 101},ti-101% 101% 10231i 101¼-102¼ 101 -102¾ 101 -10~ Rell'latered ..... .... . 4 98½-101¼ 99¾-100¼ IJS¾ · 99% 98¼- 98½ 9'3½-101¼ 101*-lOl½ 101 -101¾ l(Jt -101¾ 101 -102 100½-101½ lOOl,4-101 99¼-100 103 -103 102 -108 Gulf & .Sb. I. J.et rd .. ~ 103 105¼ 101}&-105¾ 105 -105 .... - . .. .... 104¼-104½ 102 -10:.!% 102¼-102~ 103¼-103¾ Hock. Val.-lst,cons.4~ 109 -110!-4 110½-111~ ll()¾-111¾ 110½-lll 111 -111½ 111 -11.>. 109¼-110½ 112 -112 1.11½-112 111¾-llc!¼ 111 -111" 109½-110 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ~ .... ... ... .... .... .... . .... .. .... .... - .... - .... ... .... .... .... - .... .... .... -.... .... .... - .... .... - .... ... - .... . .... - .... .... - - . - .... ... .... - .... ·•·· - .... - .... .... - - .. ... .... - ... ... ... .... .... - .. .... ... - .... - .... - ... . - .... .... - - ··- .... - ... .... .... .... - .... ... ·-· .... - . .... - ... - .... .... ... .... - . .... .... - .... ... - .... ... .... .... .... .... .... .... .... - ... ... - .... .... .... .... .... - .... .... - .... - .... .... .... .... - .... ... . - .... .... . ... - .... - - .... - .... ... ... - . ... ... .... ... -- .... - .... ... ... .... ... ... .... .... .... .... .... ... ... .... ... - ... - .... ... - - ... ... .... ... -- .. .... - ... .. .. .... .... .... .... .... - .... - .... .... - .... .... ... .... ... .... - .... .... ....... . .... .... ... - .... ... - ... - .... - .... . . ... - .... ... - .... ... ... - . .... .... - ... ... ... .... .. - .... .... ... ... - .... - ... ... .... - .... .... ... .... .... ... - ... .... ... .... .... ... ... ... - .... .... - .... .... ... - .... ... - ... ... .... ... ... - .... .... ... ... ... .... .... ... .... .... - .... .... .... ... .... ... .... -- .... .. ... .... - .... .... .... - ... - .... .... - .... .... - . .... .... ... ... - .... .... - .... .... ... ... .... - ... .... - ... .... .... ... .... ... .... .... .... - .... .... ... - .... - .... ... ... . .... ... ... ... .... - .. .... ... .... .... .... ... .... .. -~ ... - .... .... ... .... .... .... - .... .... ... - .. .... .... ~ .... - .... .... - ... .... .... - .... - ... .... - .., ..... - .. .... ... .... -. - ... ... ... - .... .... .... - ... .. ... .. . - .. - ... - .... . ... - .... ... .... .... .... ... ... . - .... ... .... . .... - .... -. ... .... ... . ... .... - .... .... - ... . .... ... .... .... - .... .... ... ... .... .... ... ... ... .... - - ... - ... - - . ... -- ... ... .... .... ... - . .. - .. ... .... - ... ... - .... ... .... .... - .... - . ... - .... ... - ... - .... - .... ... - ... ... - .... ... - .... .... .... 78 RAILROAD BONDS. 190!>-Continned. BONDS. JANUARY FEBR'RY. ----------- - - ---Bocktnar Valley.-(0on.) MARCH. .APRTL. MAY. JUNE. JULY. AUGUST. SEPT'BER. OCTOBER. N0V'BER. DEC'BER. - - - - - - - - - - - --------(·- - - - - - - - - - - - - - - - - - - - - - - ---- Low.High Low.High Low.Hi~h Low.High Low.High Low.High Low.High Low.High Low.High r,ow.Higb Low.High Low.High C. & H. V., lst, ext.. 4 .... - ••.. 100 -100 - . . . 103 -103 . • . • Col. & Toi . 1st, ext.4 .. .. - . . . 102¾-102% 102¾-102¾ 103¾-103¼ 103½· 103¾ llUnots Cent'l-19:il .. 4 .... . 110)4-110¼ . . . • 100½-lll ll0¼-110¼ 110 -110 1st, gold, 19:Jl .. . . . 3¼\ .... 103 -103 101½ ·101½ . .. - .... 102½-102½ 102¾-102¾ 102 -102 102 -102¾ .. . • - . . . .• - ...• Extended 1st 19:i 1.3½ .... 102 -102 1'12¼-102¼ ... - ...• Gold, 19~2.. ......... . .4 105 -105 - ... 106¾-107~ .. . 106!,ii-107 - .... 108 -108 107¾-107¾ ...• 105¾'.-105!J4 105!¼;-105¾ 106¼-106¼ Gold, 19:i3 ............ .4 104½-106 105¼ ·105J.<; 105 -105½ 105¾-105}~ 105 -105¼ 105¾ 105¾ 105½-106 106¼-106¼ . • 106¾-107 104¼-105~ 104.!14,-105¾ .Regi8tered .. .. . ..... . 4 .... - . .. .. .. - .... 103 -103 106½-106½ . ... Cairo Br1d,ie, 19a0.4 ... . - .. .. 95 - 95 .... - .... Loul8v. Di•r., gold.3½ P4¾ - 95 ... . 94¼- 96¼ 94½- 94¾ 95¾- 951J:! .. .. 94¼- 9!¼ 94¼ · 95 . . . . - ... . 06-96 Omaha Div., :lat, g .. 3 85¼- 86 .... 81 - 81 ...• 85 - ·s5 St L. Div., 19:il •... . 3 ... . - ••• 84, - 84 86¼- 86½ 96 - 06 Gold, 19:Jl ........ 3½ 95¼- {}5½ ... 92½- 92¾ . • . • . . . 109¼-100¼ W e8tern lines, 1st ... 4 . . . . - . . . . . . . Bellev.& Caron.l11t.6 .... - ........ 122 -122 - ... . 122 -122 . . .• - •... 121¾-126 c.st.L.&N.O.,19al.;}123¼ 123¼ 125 -125 .... - ... . 124 -124 . . . . Memphi ■ Div., lst.4 110¼· 110½ . ... Ind.Dec &West.-ht.a .... - .... 109¼-109¼ ... - .. . . 110¼-110½111¾-lll¾ Ind. Ill. & 1.-ht,'a0.4 .. . . - .. . . .... {}9¾-100 ..•• - .... 100½-100½ ...• - ... 99¾- 99¾ .••• - ........ - ... . 100½-100¼ . .. - ....... . Int.& Gt.No.-l ■t,'19.ti 121 -121¼ 121¾-122!,.( 122¼ -122½ ..• - ... . 119),,(-120½ 120 -120 119 -121½ 120¼-120½ .. . - . . . 122¼-122½ 118 -119½ 119 -119 2d, 1909 ............... . a 101!,4-103 102 -103¼ 100 -lOll,.( 101 -102 100¼- 101¾ 101 -102 102 -102¾ 102¾-103 100¾-100¾ 100¾-lOll,i, 101½-101½ 100 -101¾ 3d, 1921 ... ........... 4 70¾ · 79¾ 79 - 81 75 - 78 76 - 77~ 78 - 80 79 - 80 81½- 81½ 82 - 82 81½- 81½ 81¼- 81½ 78 - 78 Iowa Cent.-lst, gold .. :; 114),,(-115 114½-116 115%-115¾ 114.;14-ll5½ 114¼ 115¾ 112½-112¾ 113 -113 . . . . - .... 113¼-lU . ... - .... 117 -117 118 -118 Refunding, 19:il .. .. .4 86 - 86½ 88 - 88 85½- 85½ 85 - 85 .... - .....••• - ••...... - •... 85 - 87 .. - . . . . .. - .... 86 - 86 K.Clty So.-ht, 19:i0.3 72¼- 75 74¼- 75¼ 72 - 74% 70 - 71~ 70¼ - 71½ 70¼- 71!4 71¾- 72~ 72¾- 73 72'¼- 73):', 71¼- 72¾ 72¼- 73½ 72¾- 73!1-.( L. Erle & Weat-lst ... a 117½-119;J4 .... - .... 118¼-118½ 118¾ ·119 119 -119½ 119¼-120 118 -118 118¼-118½ 118½-118½ ll9 -119 120 -120 120 -120 ~d ............. ....... .... a .... - ... 112%-112¾ 114¼ ·114.~ 116¾-lltl¼ .... - ... . 114½-114¾ lH½-114½ . .. . L15¾-115½115¾-115¾ 115½· 115¼ Northern Ohio, 1st .. ~ 117¼-111:l½ 119¼-120 .... - ... . - ......•. - ... 118½-118½ ..• - .... 117 -117 Leh. Vall. <Pa.), coll .. a 108¼-108!4 .... - ... . 109¼-109¾ 109%-109% .... - •.•. . ... •••...• - ...• Gen. cons., !400!:I .... 4 .... - .. .. .... - ... . .... - ........ - .... •·· - ....... - ... ..... - . .. . 101¾-101¾ .• •• - .... 100!1! lOO!J;t Leh. V .N. ¥ .-1st, gu.4½ .... - .... 110½-110½ lll½-111½ 110¼-lll 111 -112½, 112¼-112½ .... - ... C0¼-110¼ 110:jfj ·112½ lll¾-112¼ lll¼-112 · ·•· Registered ........... 4½ .... - . . . . . .. - . .. . • • .. - .... 108¼-108¼ ... - ... . 110½-110½ 112¼-112¼ -Leh. v. Ter.-lst, gu .. a 119¼-119% .••• - ........ 117½-117½ 119¼-119~ ... - . : •. . ..• - .. . 118¼-118½ ... - ... . Leh. Val.Coal-lst,,iu.:i .... - . . . . .. . - .. . .... - ... . 115 -116 - ... . 97),g- 97½ . ... - .... 98!!4- 9~ 07¾- 98¾ Leh. & N. Y.-lst, gu.4 99 - 99 .. .. - ..... .. . .. . . - •... 115½-116 Lonar Isl'd-lst, 1931.~ 117¾-117¾ 117¼-117¾ 117½ 117.½ - •... 116 -116 Gen. mort., 193S.... 4 .... .. lOJ¼-101¾ 101¾-1011¼ 101 -101 101¼-102½ 101 -101 100¾-101¾ ...• - ........ - ... 101%-101~102½-102¼ . ..• - ..•. - •.. . 102¼-102¾ .. . - .... 102 -102 Ferry, 1st, 192~ . ..4¾ 105 -105 Unified, 1949....... .. 4 101¾-103 101¼-10:.! 100¼-lOIJ¾ 100!,4 -101 100¾-102 100¼-101!,4 100¼-102% 102%-102}!. . •.• - ..•. lOOJ,n-100½ 100¾-100¾ 101 -101% - . . .. 101¼-102 101¼-102 ·Gen. ref., g., 1949 ... 4 102 -103½ 103 -103¾ 101¼-102 101½-102 102 -192¾ 101¾-102¾ 102 -102¾ 102¼-103¾ tOl -102 - ••.. 105 -106¾ B'Jdyn & Mon., 1st .. ti .... - ........ - .. . If. Y.&R. B., lst .. ~ . ... - ....... - ....... 111%-111¾ . ..• •....... _ lio.Sho. Br'h,lstcon.a .... - ....... - . . . - .... 112¼-112¼ •.• Leul ■'a & Ark.-lst .. :J 104¼-104.½ 105%-105¼ .... - .... 104¼-105¾ ...• - ... .. ... - .... 105%-105¾ 106 -107 .... lOi¼-104~ ..•• Lout ■ • & Na ■ h.-Gen .. ti 119 -120 119%-120¾ 121 -121 120¾-122 121¾-122 119 -120 120 -120 . •• . - •.. . 121 -121 121¼-121¼ 122 -122¾ 119 -120 Gold, 1937 ............. l\ 117 · 117 119¼-llll,½ .•. - ..... ... - .... ll8¾-ll!m . ... . - .. 118%-118% . .. Unlfted, arold, 1940 .. 4 102½ 103½ 102'4-103,:... 103 -104 102¾-103½ 103½-104¼ lOi½-105!,4 103 -104¾ 103¾-104¾ 104 -105 104¼-106½ 104%-106 105 -106 Col. trust, g., 1931 .. . :; 114½-114¼ .... - . .. . ••• - .•.. 115 -llfi - .... .... - .... L18½-11S~ 120¾-120¾ 113 -113 l14½-114¾ Coll.tr •• a-~0s, 1923.4 98¼- 99~ 99¼-100% 99½-100½ 97½- 98¾ 98 - 98½ 98½- 99¾ 99 - 99% 99¾·100 100 -100¼ 98 - 98¾ 98 - 99 98½-100 E. H. & N., 1st, '1 :J.. 6114.½ 114.½ .... - ........ - ........ - •... 116½-117 ll4;.(-114¾ .•• Louis. Cln. & Lex.4¼ .. .. 109 -109 N. O. & l'tJob., bt .... 6 180½-130½ 130~-130~ .•. - .... 131%-131¾ 181M-131~ 132 -182 .••. - ••.. 128¾-130 ...• - •... 131 -181 llll¾-131~ 131 - 131 ~d, 1930 .. ..... ....... ti . . . . . . . 126½-126½ .••• . . . . . .. - • . . • ••. l:&8 -128 . •• . • ...... • - • . . . ..• Pen■acelo. Div ........ 6 .. .. lU -114 St. Lou I ■ Dh., l st .. ti . ... - .. . 121½-121½ .•.• 2d 1reld, 1980 ....... 3 .... . ... 74~- 74.~ ..•• Atl.Knox.&Ne,,l8t.:i .... . ....... - ....... ... . 113¾-118¼114¼-114¼···· - .•. . . . Pensac. & Atl., l8t .. 6 . . . . . . .. 113 -113 112½-112½ · • •. - ... . .... - .. . . .. • • .. . ..•• - ........ - . . . . . . . - ... 114¼-116 115 -116½ Ken. Cent., 1987 ..... 4 98½· 91)¼ 99~- 99~ 100¼-100½ 101¾-101¾ 100;14-100% .•.• _ -- ........ - ... . 101½-102 LOl¼-102¼ - .... , Ol¼-102 L&N&M&M,lst.4~ ... - ... 110 -110 .. .. - . . ... - .... 108 -108 L.& N.-lli!outh.jolnt.4 96 - 96½ 96½- 96¾ 96¾- 97 96½- 97 97 - 97~ 96½- 96¾ 96 - 97 96¾- 97 97 - 97 98 - 98¾ 98 - 98!,4 96½- 98 Rearlatered.... . .. . 4 . ... - . ... 95 - 95 ... - . .. . . .• •. . ..... _ ... . N.F.4:S.,ht,gu.'37.;} 115¼-115¼ 114½-114½ 116 -115 . .•• - .... 115½-115½ . . .. So. & No. Ala., guar.~ 116½-116¼ .... - •... 115¾-115¾ . .•• ••.....• _ ....... . "'ink. lund, 19LO ... ti .. . . - ..... •··· - ... . . ... - .... . ... ... .. ... - ... . .. 107 -107 Loulsv. ·& Jeff. B'are 4 .. . 99¾- 99¼ ... ... . .... - .. - ... . 98!'-(- 98¾ .. . ManhaUan, 1990 ... . .. 4 105¾-106~ 106½-107 106½-107 104½-104¼, 104 -104¾ 104¾-104½ 104¼ ·104¾ 104¼- 105!!:a 104¾-105¾ 103¼-lOi¾ 103 -104 103¾-104 Rearl ■ tered . . .. ....... . 4 ... . - .. .. - .. .. 104. -104 - . . . . . .. - •... . ... M.etropol.Elev ., 1st .. 6 106¼-107 107 -107)4 107 -107¾ 108 -108¼ 108 -108 108½-100 - .... 106¾-106½ 106¾-105% 106!14-lOfl~ 106¾-107!1-.( Mex.Central-Consol 4 73¼- 77 74- - 75½ 75 - 78 76¼- 79 75 - 77 75 - 79 77 - 79 77 - 81 79 - 82½ 80¼- 82¼ 79½- 81¾ 80½- 81% 1st consol. Income ... 3 23¼- 25~ 22½- 24~ 24 - 26,½ 21½- 25 19 - 22½ 19½- 21¾ 21½- 23~ 23 - 2t!¾ 24 - 25¼, 24½- 26¼ 28½- 26 24¼- 26 2d consol. income .... 3 16 - 17¾ 14 - 17 16 - 17½ 15½- 16 11 - 13 ti¼- 13 12½- 14.½ 14 - 18½ 16½- 18 17½- 20 17 - 20¼ 19 - 20¼ Coll. tru ■ t, 1907 ... 4~ {16 - 98 94½- 95½ 05 - 95!1,f .... - . . .. 95¼- 06 1?6¼- G7J,.t 97¼- 99½ 96¾- 97½ 91¼- 94¼ 96~ 98 Minn. & St. L.-l ■ t .... ,l37 -137 . ..• PaciOc Ext., 1st ..... ti - ... . 122 -122 - .. .. 120¼-120¼ .... S.W.Ext.,lat,1910.7 .. .. 1187'{-113¾ ...• - . . ... lll¼-111¼ .... 109!'-(-108¾ . ... Iowa Ext., lat, 'UU .. , 111 -111~ ... . 117 -117 - ... 116%-116¾ 113¾-114¾ . ... - .... 114¼-114¾ . . . l ■ t, con., 1934, a- .•. . ~ 117¾-117l)t . .. . 96¾- 97 97 - 97 96 - 96 95¼- 97 96 - 97¾ Sl6 - 97½ 96¾- 97¾ .... - .... 96½- 97½ 97 - 97 1st & ref., 1949 ...... 4 97½- 98¾ 98 - 99 07¼ · 98)'4 96 - 96¼ 96)4'- 97¼ . ... - ... . .... - .•...•• - •...... De ■ M.&F.D.193:i 4 .... - ... . ... . - .... 98-98 - .... 101 -101½ 100½-100}:, 101 -101½ 10-2½-102¾ 101 -101¼ 101)4'-101¾ 101 ·101½ .... - ..•. 102¼-102¼ 102¼-102¾ M.St.P.& s.s.M .• '3~.4 99 - 99 Mo. Kan. & Texnsl ■ t, a-old, 1990 ....... 4 10()¾-101¾ 100½-101¼ lOO½-lOH,~ 101¼-10 .¼ 102 -104¼ 100½-102 lOlJ,,f;-102 102 -103¾ 102¼-103 LOl¾-102¾ 101½·103¾ 100 -100~ 2d, Income, 1990 . . .. .4 !;tl!,4- Si½ 85 - 86 t-5 - !;tl 85 - 86\¼, 84¾- 86 85¼- 87 86½- 88¾ 86 - 88½ 86¾ - 88 8tl - 88½ 88¼- 90 88¾- 90 lat, exten., g., 1944.i) 103¾-107 lOtl -107 106¼-108 106¼-108 104 -105:J,.; 105¾-106 106½-106¾ 105J4:-103¾ 106 -108½ 107¼-108¼ 105½-106% 106¼-107¼ St. Louis Div., lst .. 4 87 - 87 go - l!O½ 90¾- 90¾ 91 - f11½ ... - .. . . 90½- 90½ 91½- 92!,( 92%- 9! 93½- 93!1:a 92 - 92¾ 02½- 92½ 92¾- 93¾ Dall. & Waco, t ..r ... ;} .... - .. . . . .. - . .. - ....... - .... 107 -107 106¾ ·106¾ K. C . & P.,l8t, 1990.4 94¾- 95 9!¾- 05¾ 95 - 95 95 - 95 ... 95 - 06~ 913¾- 97½ .... - ... 95¾- 9~ 9t\¼- 97 . . .. - ...• Mo. Kan,& Ok., ht.~ 105 -106¾ 106½-108 108 -lOd¾ 107 -10::l¼ 105¾-106 106 · 106¾ 106½-lOi¼ 107¼-10994 109 -109¾ 109¼-109½ 107 -100¼ 108:kj-109 M. K..& T. ofT., l8t.l) 106¾:-H,9½ 108½-100 106 -107¾ 106 -107½ 106 -108 107 -108¼ 1L7 -108½ 108¼-110 110 -110 109¼-110 108~-109 108 -109 Sher.Sb.&S.tst, gu.a ... - . 107½-107½ ... - . ... .. . . 108%-106¾ .. .. - .. . . . ... - ... . .. - ••....• L07¼ ·107½ Texas & Okin,, ] 8t. ,~ 104¼ 104.½ 107 -107 106½-106~ 105¾-108¾ 106 -106 105¾-106 .. . . - ... . 108 -108~ ..• • - . . . . .. - .... 108 -108 lO ,\lg-108¾ lllo.K.an.&East.-lst.O 111 -111½ .. .. - ... .... - .. .. 112¼-lli¼ 112¼-112¾ 112¼-114 .... - . ... lU½-114!1! 118¼-113!,4111!¼;-113 114¼-115 115 -115½ -MIH011ri Pacific3d, 1906 ....... .. ... .... 7 106¼-106½ 106%-108% ..•. - .. . 107 -107 103¾ 104~ 104½ 104:}.a lOi¾-104.¾ . ... - ... 105 -105 105½-106 102}4-102¾ 102¾-102!1-.( 1st consol. ............. . ti 123 -125,- 124½-125¼ 125 -125½ 125¼ 125% 122 79 1:.1:.:\}1, 121½-122~ 121½-121¼ 122 -124½ 124½-124¾ 125 -125½ 122 -122¾ 121½-123 Trust, a-old, l 917 . ... a 108 -110½ 109 -110¾ 106¾-107¼ 106¼-107¾ 106l1i-107¼ 107 -107¾ 107 -108¼ 108½-100 105¼-106x. 105¼-106¼ 105½-105'.1/8 105½-106~ 1st, collat., a,, 1920.5 100 -110 107 -1077,11 107½-108¼ 108 -108½ 107~-108,½ 108 -108¼ 10S¼-109¼ 107¼-107½ .... - .... 107%-107¾ 107¼-108 107½-107% 40-yr. 194:i, g ....... . 4 .... - . . ...... - . .. .... - . ... .... - .... 1:14¾- 98 95½- 96¼ 94½- 94½ 93¼- 04¼ 93½- 94 92 - 04 Cent.Br'cb Ry., lst.4 97½- 98 96 - 96¾ 95½- 97½ 95 - P5¼ 96 - 97 1:17 - 98 97)'.(- 9S½ 96¼- 97¾ . ... - . .. 97¼- li'?Jij 97'¼- 97% 977-(- 97!1:( Leroy & C. V. A. L . . /ii ••• - .... 104½-110 Pac. of ll'Io., 1st, ext .. 4 ... . - .... 103 -104 104 -104¼ 104.¼-104» lOliM-lOJ 105 •105½ 105 -105 .. .. - ... . 103½-103¼ ...• - .... 108¾-103¾ 104¼-104¼ ~d. 193S, ext . . . Ii .. . . 116¼-11 ~' 1~ 17¾-117~ l li'IJ(-118¾ .. . . - .. .. 117½-117½ 11>! - Jl9 119¼-119¼119¼-119¼120 -120 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD BONDS. 79 190~-{Jontin111ed. BONDS. JANUARY F EBR'RY. MARCH. APR IL. MAY. JUNE. J ULY. AUGUST. SEPT'BE R. OCTOB ER. NOV 'BER DF C''llER Low.High Low.High Low.High Low.High Low .High Low. High Lo w. Rlgb Low. High L ow .H igh Low . High Low. H igh Low. H igh . ---------·-- - - -· - - - - - - - - - - -- - - Mo. Paclflc-(Oon.}- - - -- - - - - -- - - - - - - - - - . -- - - - St.L.&I.M.iren.& I.a.~ 116¾-118 117¾-118¼ 118 -119 116½-118 116¾-117 116 - 116¾ 115¼-116¼ 116½-11711. 117½-117¾ 115~-116¼ 116 -116¼ U6 -116M Stamped, iruar .. ~ · .. .. - . .. . 116 -116 Unify.& ref., 19~9.4 94 - 95¾ 95¼- 96¼ 95½- 96½1 95 - 9e~ 94~ ·- 0B 95 - 95'¼ 93!)4- 95~ 93¾- 9i¾ 9!¼- 94¾ 94¼- 94¾ 9 4, - 95¼ 94'Jji - 95" Riv. & G .D., t s t .... 4 96¾- 98 97¼- 97¾ 95½- 97½ 96 - 96¾ 94 - 9!¾ 91½- 95:J.s 95¼- 96 95%- 97 96½- 97 9<J¼- 97% 9i ¾ - 95¾ 94½- 95 Mob. & Bir.-1 9 4~ . .. .4 . . . .. - . .. . ... . - . ..... .. - .. . 93¼- 93¼ .• •• - .. .. . . . .•• - . . .. . . . • - .... 96 - 96 . . . • lllob. J . & K . C.-ht .. :i . .. . - .. .. 07½- 98¼ 117 - 98¾ 96¼- 98½ 95½- 96¾ 96~· 100¾ 97 - 99½ 98¼- 98 ~ 96¼ - 97 . ... - . .•• 97 - 98 97 - 99 Mob.& 0 .-New, 1927.6 126½-127¾ 128 -125¼ 128¾-129 128¾-129 128 - 12J 125¼-125¾ .•• . - ••.. 129 -129 128¾-129¼ 129¾-180 12g -1 29 lat, Exten ., 19~7 .... & .. .. - .. .. . .. 122 - 122 124 -124¾ .. . • .... 124¾-126 - . . .. .. .. - ..... . . - .. .. 122 - 122 Gen. m ort •• 1 9 38..... 4 98 - 98 97½- 99 97¼- 97¼ 98 - 98 96½ - 97½ ... . - .... 99 - 99¼ . .. - .. .. 93 - 98 98 - 98¼ Mont trom . Div., lst.. i, 115¾-115¾ 113¾-114 .• •• - . . . 114:J.(-114¾ . . .• - •.•. . . .• - . • . - . . •. 115 - 115 115 -115 115½-115½ 115¾-115!)!. St.L. & Cairo, col .tr.4 . . . 95 - 95 - . .• . 92)4- IM¼ . ••• - ... . Nas h.Ch.& S t.L.-lst.7 120¾ -121¾ 117 - 121½ .. . . - .... 122¼-122¼ 122½-122½ 122 -123 120¼-121¼ 120 -120 121 - 121 121½-121¾ 12L½-121~ 12L¼ -121¾ Cons ol . g ., 1928 ......6 115¾-116½! 116 -116 116¾-117 114¼- 115 lH¼-114¼ 1147-1 -115 ..• . - .. . . . • - .. . . 116 -116 114½ -lH!h 114 -1149a 114¼-114¼ Jasper Br., lat . . .... . ti 119 -119 . .•• - . ••. .... - .. . 121 -12 1 - ... 120¼-120¼ 120 -120 •• • . - . .. 124 -124 Melli. M . W. & Al. ... ti . ... - ... 117¼-117¼ .•• ••• - .•. . ..•• National of Mexico106 -106 105\.ti-10511i . . • • Prior li e n, 1926.... 4¼ .... 1st, consol., l!Ml.. 4 81~ 82½ 81:h;- 83 82½- 83¼ so¼- 81¼ 79¾- 80J.t. 80 - 81½ 81¾- 82~ 82 - so~ 84 - 85 83 - 84 84 - 85 N. Y.Cent'l & Hud.R.Gold, 1997 . . ..... .... 3¾ 99%-100¾ 99~-100¾ 99!}.(-100½ LOO -100~ 100 -100\!A L00¾-100¼ 98¾- 99½ 99 - 99¼ 99~-100 99¾- 9 ,131 99 -100 99¼- 99¼, Regl8tered .. ..... . . 3 k 99¼-100 100 -100¼ 100¾ -100½ 100 -100 . .. • - . .. . 99 - 99 99¾ - 99¾ 119 - 91:l 9 •¾- 99i,, 97~- 98¾ Deben., ir .. 1934 ...... 4 .... - . . . . . . . - . . . . . .. - ... . 102¾- 102% 100¼-101 L00½ -101¼ 101 - 101¾ 101¾-10131- 101½-102.½, 102,¼1-102¾ 100 -100.~ 100 -100¾_ Reirlster"d .......... .4 .... - .. .. . ... - .... 1C2 -102 .••• Deb., a., '90-190/i .. .4 .... - .... lOOM-100¾ . . . - ... . .. •• - . . . . Debt certs., ext., ir ... 4 - .. . . ... . - . .. 101¼-101¼ 91¼ - 92,½i 90 - 91 Lake Shore, coll ... 3 ½ 91 - 98 9®i- 91½ 90¾- 91% 91¾- 92½ 91 - 91¼ 91¾- 92 90¼- 9 1½ 90½- 91¾ 90¼- 9 ll,{ 89 - 91~ 89"' - 00½ 90 - 90½ 89 - 9◊¼ 88¾- 90 Redatered .. ..... . 3½ 90¾- 90¾ 89½ · 90 80 - 90¼ 90 - 90 88½- 90)4 89 - 00¼ 90 - 111 891,g- 91 89½- 91¼ 89½- 90!,4 91¼- 91¼ 89¾- 90¼ 90 - 90¼ 89¼- 90,½ 90,½i- 9J~ tl9¼- 90 Mich. Cent'I, coll .. 3 ½ 90 - 91¾ 89)4- 00 89¼'- 90½ 89½- 91 Reirteterod ..... . .. . 3¾ .... 89 - 89 89 - 89 89¼- 89,½ . . • • - • • • . 90 - 90 . • • . 89 - 90 90 - 90 Beech Cr' k, l ■ t, a;u .. 4 .... - . . . 106¼-107½ •••• - ••.. 105¾-105¾ .••• - •••. 10fl¾ -106f)i. JRetrlatered. ........ .4 . . . . LO! -101 Moh.&Mal.,let ... .4 .... - ... . ... - . . .. ... - .... . ... - ... .... - . ... 105 -105 N. Y. &•Put., 1st, a;u.4 103 -103 104 -107 106 -106 ..•• - •... 106 -106 106 -106 West Shore, a-uar . .. 4 109!,(-109 108½-110 108~-109½ 109 -109¾ 103~-109½ 109¼-110 107½-109½ 108¾-109½ Ht8'¼ 109½ 109¼-109¾ 108¼-109l,4 LOB -109½, Reiristered ..... ...... .4 107¼-108!,4 108 -lll8!14 108¼-109 108!,4-109¼ 108!,4-109 107 -109½ 107¼-103¾ 108 -109 108 -109 108}4-109 107¾-108½ 107 -108½ L.S.&M.S., a;., '97 .3~ 100¼-101¼ 101 -101!,4 101 -101 100¾-100¾ 100½-102 99¼-101¾ 100¼-lOOJ.!i . ..• - ... . 101½-103 102½-108 102!,(-102 ~ lOJ -100" Redatered ... ..... . 3,1,t . ... - .... 100¼-,100¾ . . - ......•• - .. . . 99¾- 101¾ 99½- 99½ . . .. - ... . Debenture, 192S .. 4 101¾-102'¼ 102¾-108)4 100¾-101¾ 100½-101 100 -101¼ 100¾-101¼ 101¼-102¼ 102¼-102¾ lOQ¾-100% 100¼-101 lOQ¾-101 100¼-101~ Det.M. & Toledo .. 7 ... - .... 108½-103½ .••• - ... . 102 -102 .••• Mahon. Con.I RR ... ~ ... - .... 124 -12! - ••. . . .• • - •... 123¼-123½ . . . Mich. Cent' I, 1931 ... ~ .... - ... . 124 -124 - •... 122 -122 t 22¾-122¾ Redetered .. ......... ~ .... - .... 120 -120 ..•• - ... . 119 -119 . ... 1940 .......... ......... 4 .... - .... 106 -106 ..•• l8t K , 193!1 ...... . 3¼ . . . . . . • . 99 -100 LOO -100 N. Y. & Harlem .... 3½ . . .. - .... 105¼-105¼ . • • • N. Y. & North'n, lat.~ ... - .... HS -119¾ . ..• R. W .& O., con., lat.~ 119 -119 119¾-119¾ •••• - •••• 117¾-117½ 117½-117¾ ll7"-117¼ 118¼-118¼ 118)4-118>:( 118;.(-118¾ . .•• t16½i-l l ~ 116 - 116 Utica & Bl.Riv.,'~~.4 . ... - ... 107½-107½ . .•. - . .• . . .. - ... . . .•• - ••....•• - •••. N. Y. Ch. & !St. L.-lst.4 104¼-105 105 -105'¼ 105¾-106 104 -lOi¼ 104 -104~ lOi½-105¼ 105 -105½ 105 -1011-,i 105"-106¼ 104¼-104¾ 10!'-(-10!:lti LOl -104¼,. N. Y. O. & W .,ref.,lat.4 105 -105¾ 105!1(-106¾ 108¼-lOt½ 108½-104½ 103 -104 108 -104 103¼-lOi½ 104 -104.'4102~- 103 103¼-104¾ 10.l½-10! 10~¾-104 Retrlstered. .......... 4 103!,fi-103½ . . . - .... . .•. - .....•• - .... 105¾-10 )~ Nert. & 80.-l ■t, '41 .. ~ .... - ... . 111)4-111¾ . . •• - •••. 112 -112 - • . . 108'-(-108¾. Nel'folk & WeaternGeneral, 1931 ........ 6 183½-133½ ••• - •.. . . •• J mpt. & Ext,, 1934.. ti ... - .. . . 132¾-132¾ 132½-132½ .•• New Rive,, 1932 . .. . ti .... - · •• · 129¾-129¾ N.& W .Ry., lst,con.4 100 -103½ 103!,d;-10~ 103 -103% 101 -101!14 101~-102 \.t, 101%-102½ 102¼-103¾ 102¾-108 l02!J:(-103}<, 101¼ -101¾ 101¾ -lOt lOl¾-102¼ . Dlvla'nal, llilt llen.4 97 - 98 98!,4-100 99¾- 99¼ . ... - . . . . lOO~i-100¼ LOO - 100¼ 98'¼- 99½ 99 - 99 . . . 99½-100¼ 99~-100¼ 9J¾-100¼, Poca~. C. & C.jolnt.4 95 - 96¾ 96½- 97¾ 96 - 97½ 96½· 97-¼; 96¾- 97h. 9i½- 96¼ 95½- 97¾ 96½- 98 96½- 07¾ 96½- 96¾ I 6½- 97 91¼- 95 Col. C. & T., let.'~2.:> ... . - .... 109½-109½ ... - .. . . . . . - . . . .. ... - • . . . .. - . .. . •.• - •.. . !!Jc. Val. & N. E., lst.4 102 -102¾ 102½-103 102¾ ·102~ 102¾-103 100 -101 101 -101¼ 102 -103 102¼-103 102¼-103½ 102¼-103 100 -101Xe 100)4-100¾, Northern PaclflcPrlor lien, 1991 ..... . 4 104"-105'¼ 105¼-106 105½-106¾ 105 -105 ~ 1053-g-105:¾ L05:ki-106¼ 105}.{-lOJ¾ 105~·106 ~ 105%-106>1- 101½-105~ 1031}.(-105~ 104½-105¾ Reir .. prior 1ten . . ... 4 104)4-105¾ 104 -105 .. . - . . . 103l1j-105 104 -lOM•a 104:J4-105¼ .... - . ... 106711- l\J6,1. 103)4-104 104i.-104 !.i General llen, ~047 .. 3 76¼- 78 76¾- 77¼ 76¾- 77¼ 76)4- 77¼ 75¼- 77l-tl 76 - 77¾ 76"- 7t,¼ 77 - 77x, 77 - 77¾ 77 - 78¾ 76¼ - 77!ki 76¾ - 77¾ . Reirietered ........... 3 76 - 76¾ 75 - 75 74½- 74¼ 75 - 76 76 - 76 . ... - •.• . . . .• - .. . . .. St. Paul-Dul. Div .. 4 .... - .... 101 - 101 100 -100 99½- 99½ ..•• - .... 101½-102 101 -101 - • . . LOO - l UOJ.( . St. Paul & No. Pac .. ti ai3¾-126¾ .•• . 126 -126 125½-125½ - .... 125½-125½ 125 -125 St.P.& Dul., lat,'31.:J .... - ••. . 114 -114 2d, 1911 . ........... . :) ... . 108 -109 - •••. 10]:J,4-108 .••• - •... 109 -109 . ..• l ■ t, coneoi,, 1968.. ~ .... P9¼-101 - •.. . 100)4-lCiO¼ . ••• - ••.. 100 -·100 - .... 100½-100><1 100½-100~ Waah. Cent.Ry,,lst.4 .... .... - ........ - .... 92½- 92¾ ...• - •• . .•.• - •.. . 94-94 No. Pac. Ter. Co-lst.. d 115 -116½ . ..• - ....••• - •.•...•• - ••...••• - •••. 116¾-116¾ . .•• - ••.• 114½ ·114½ ..•• Ohio Riv., lat, 1936 .. :) .... - ... 118¾-118¼ .. •• - •••• . ... - ... . ••. • •.. ...• - ... . .••• . .. . 11~ -118 General, 1931 ....... ~ .... - .... 11374 113}.{ .••• - .... 111¼-111¼ . ..• - •.•. 111½-111¾ .•• . ... - .... 115 -115 Lll -111 tll2¾-112~ 112¼-lU½,, Ozark & Cher.Cent.-:i . . . . - . . . . 99)4- 99¼ 100¼-100¼ 100 -100 t00¼-101¼ 101 -101 - . . . 99¼ 100 . 9 J - 99 Pacific Con.st Co.-lsr.:'> 113~-113~ 114 -115¼ 114½-115 lU -114~ ..•• - ... . 112 -112 112)4-114¼ . . . - . . lHk-115 ll6J4-116¼ lU¼-11 6 11 l½- lU Pn.nn.ma-l•t, •• f .....4x 104 -10! - ••....•• - .... 102½-103 . . . • - •.. . . . - •... 104¼-104¼ ... . - .... . .. - • . . 101 -104J,,i 104,M-105¼, Pennaylvanla Co.lat, con ■ ol ..... ....... 4!,i, 111 -111 111 -111¾ 110'¼-lll¼ 110'¼-lll llO!J.(-111 110~111 108J4-109 108½-108¾ 108½-109 109¼-109½ 108½,-103¾ 108!1:l-109!,4 Ketrlstered .... . ... . 4½ 106 -106 . . . . - .... 106 -106 . • . • - . . L\J7lij 107", Gen.co-1.tr.ctts '37.3¼ .... - ........ - ... .. ... - ... . . ... - . ... 93% - 9~ Gu.col.tr.clfs.,B .. 3~ . ... - .... 94 - 94 . .• - ....••• - ..• . 94 - 94 94 - 94 93"9- 93½ . .•• - .. .. 93¼- 93¼ Tr.Co.ctts.,iru.,'16.3;.; .... - .... 97U- 98 . .•• - .... 98¾- 98:J4 97 - 97 98 - 9:l - ••. . 98½ - 91l¼ 118 - 98)1. 9 7¼- 98 c.st.L.& P., lat.'3~.~ .... - .... 117~-117¾ 117¼-117¾ 120 -120 - ••. . .••• . - ••. . ll~-118¾ . •• - ... U9 -119 Cl.&.P.,Serle■ C .. 3x\ .... - ... .. ... - ....... - ....... - .... .. , - ........ - ... 98¼-98¾ . P.C.C.&St.L.,Sr.A4!-P 114¼-114¼ ..•• - •.• . .... - .... . .•• - ••.. 113 -113 - •.. . .••• - •••. 114¼-114¼ 112½-112½ 112½-112.½ lll~-111¾ Serieit B., 1942 ... 4½ 113:J;t-113~ .••• - ••• . 112½-112¾ . .•• - ••.. 112¾-112:1:a 113¼-113½ .••• - ••. . .•• - . .. . 112¾-112%111:)4-113¼ lll;Ja-112¼~eries C, 194~ ... 4½ ... - ........ - . .... ... - ... . 112¼ 113 . .•• - . ... ... Serieit D, 194~..... . 4 .•.. - ... . 103 -103 - • . • . . .. - . . t03¼-103¾ !!Jeri ea E, 1949 .. ~. 3¾ . . . . - . . . . 93¾- 93¾ 93¼- 9SJ1i 93¾- 93¾ 93 - 93 - • • . . 98 - 98~ 96¼- 96½ . . • • - • • • . 93~ - 93~ 04 - 94 Penn ■ylvanla RR.Ren.I e8tate, 19~3 .... 4 ..•• - . . .. 106 -107 •••• - ••....•• - •.. . ..•• - .. . . 109 -109 1'.6¼i ·l07 107 -107 Conv.,a;old,191:J,.3¼ .... - .. .. .. .. - ........ - ........ - ... . .. .. 101¼-10 1!4101 -101!,4101J.,(-102¾l01 -10l¾100~ ·102 , 9}8-lOllil:l >•7¼·1009', Conv., a;old, 191~ .. a~ 103 -104 103¾-106½ 104½-107 105 -105¾ 101)4-103 lOl:>t,-1031}.t 103ll;{-10i!I.( 104)4-106¾105 -106 10i¾- 10f>¼ lOl¼-103~ 102 -104 Alleg. Vo.II., 194~ ... 4 .. .. - .... 104¼-104,a .••• - •... Clove. & Mar., lat.4½ 110 -110 •....••• - ... . .... - . . . . . . • - .. . . 110:ki-110~ . . . - ........ - .... 111 -111 lllJ.9-111¾ 111¾-lll}t .... t.l. u. & 1., lat, ext.4~ . ... - . . . 1091}.t-109;)4 108~ ·10 ,1< l 083'-l05'i. Phil. Bo.It. & Wn.sb.4 - .... 108)4-108¼ .. - .... 106~-106~ - •... 109 -109¾ . ••• t>eo.& .Pekin Un.-1st.b 123¼-123¼ . ••. • • l00¾ ·100!J4, - •.. . 103¼-J Oj½ .. • - .. . . ~d, 19~1 ... ........ •.. 4¾ .... Pere iUarquette- ' - . . .. 121¼;·121¾ Mllnt & .Pere Marq .. h 122 -122 123 -123 •.•• 119½-1193' 120 -120¼ 121½-121¼ 121¾-121l¼ . ... - https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ........ - .... - ...... RAILROAD BONDS. · 80 · 190 :i-Continued. JANUARY FEBR'RY. BONDS. MARCH. APRIL. MAY. JUNE. JULY. AUGUST. 8EPT'BER.OCT0BER. Nov'BER. DEC'BER. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - --1 - - - - l Low.High Low.High Low .High Low.Hii.t b Low.Ri11:b Low.High Low.High Low.High Low.High Low.High Low.High Low.Hiirh ·- - - - - - - - -- - - - - - -- - - - - ·---- - - - ---- - - - - -- --- Pore marQuette-(Co,i. ) ht cons., g., 1939 . ~ 112 -112 ..•• - •... 113½-11 3½ 114 -114½ 112¾ -112¾ 112¾ -11~!'4 113 -113 •••• - ••.. 114¾-lH¾ ..•. - •. ll~-114½ 111½-lll¼ Pt. Hur. Div., 1st . . ~ .. .. - .... . .. - ... . 114¾ -116½ .. .. - . . . 114 -114¾ 114 -Ui Pitt ■ • 8h. & L. E.,let.:J 117½-117½ .•• . - . . . . 120 -120 . ... lllJ -121 120½-120½ ...• - ... . 118~-120~ 118}11-118¼ ll9 -119 .Plttsb.Y.&A.,lst . . . /J ..•. - .... . ... - . . . 116 -116 .... - ... - ........ - ... ....• - ··-· .. . - . .. ... - . .. ... . - .. .. Readlna--Gen., 199'7 .4 100:U-102~ 102),g -103 101½-102\.t 102 -102½ 101% 103¼ l02M-104 101½ -102¼ 102),g-103 102¾-104¼ 102)4'-103¾ 102¼ -103 102½-104~ Rea-htered .. .... .... ,4 100 -100 101¾-102½ 102!),(-108),g Jer 11 ey Cent. collat . . 4 \!9¼-100 99¾-100~ 100½-101 fJS½- 99¾ 99½- 99~ 99¾ 101 100~-101 100¾-101¼ 100%-101½ 99 -100 99)4-100 9[!% 100¼ Phil. & Read., cons. ti . .. . - .... 113¼-113¾ .... - .... 114 -114 Con ■ ol., 1911 ... .... ,- ... . Cens., 1911,re,i .... ,- 118 -118 - ... . 100 -101! Rio Gr. J c.-l11t, '39 . . ~ .... Rio Grande ~outh'n78 - 78 80 - 81 . •• - .... 76 - 76 l11t, 1940 ....... ... ... ... 4 75 - 75 77 - 77 75:J.4- 75¾ .... 76 - 76 Guaranteed, 1940 .. 4 89 - 89 - .... 106),g-106¼ .... Rutland-let.194 l. .4½ .... - . . . . . .. , ... 99 -100 Oadenab.&L. C-ht,4 - ........ IJ9 - 99 98'4 - 94½ 96 - 95 St.J.&G.I.-ht,'4-7.4 93 - 94 94 - 94½ 95 - 95 94 - 94 94 - li 6 95~- 96 94:J.4- 94~ ·St.L. & San Fran.Ry.Cla■ 11 B, 1906......... . ti . .. 104¾-104¾ ... . - ... . 1041)4-104¾ 102 -10~ 103 -103 103¾-108:ki lOl -101¾ 101%-1019' Cla ■11 C, 1906 . .. ..... . ti 104 -104!,,f, 104¼-104¾ . ... - ........ - •. . ....• General, 1931 ........ ti .... - ... . 130 -180½ 12\!!1,-129½ . . . . - .. .. 131 -182 182 -132 .••• - ... 180 -182 General, 1931 ........ /J 112½-113½ 114!):(-114¾ 115 -116 115 -115½ 115¼-115¾ 118%-115¾ 114 -114 113 -114 118¾ -lU½ 114~-114½ .... RR. con11ol. a-., 1996.4 99:J.1- 91:1¾ 99¾- 99¾ 100½-100>2 100¾ 100¾ .... - ........ - . .. . 98½- 9d½ ..• - .. . . .. RefuncUna-. 19~1 ... 4 88¼- 91¾ 91 - 92~ 90!,,.(- 92¼ 90 - 9J ½ 89¼- 90¾ 90¼- 91 88½- 80½ 88¼- 8:l¾ 88lla- 80½ 88%- 89¾ 88 - 89~ 87 - 88¼ s. W. Div., 1947 ... ~ .... - .. ...... - ........ - ... . 102 -102 101 -101 .... - ... 102 -102 102¼-102¾ . ... - ... .. ... - .......• :S~r.•nt1te•, g,'08.4½ . .. - ....... - ....... - . ...... - .. . ..... - ... . ... . - ... . .... - . ..... .. - .. ...... - ........ - ... 07 - 97 95 - 95 K.C.F.S.& .LU., con.6 126~- 126¼ ... - .. . . 124¼-124:½ 125 -125 125 -125 .... - ........ - .. . .... &.c. Ft.S.&M., ret.4 88~- 90¼ 89¾- 91~ 90¼- 92 88½- 90 88:J.4- 89 88¾- 89¾ 88%- 897~ 89¾- go¼ 89½- 90½ 87%- 88½ 86½- 88 8 6¾· 88¼ '8t. Lou. 8. W. lllt '89 .. 4 98¼- 99¼ 99¼-100~ 9P -101¼ 99 - 99§4 96¾- 98¾ 913 - 9J ll8¼- 99 91:i~- 99¾ 99'4-100¼ 99¼-100 97 - 9 i ¼ 96 - 97~ ~d Inc., 19~9 ......... . 4- 84¾- 85 84 - 86 86¾- 86¼ 86J,(- 87¼ 86 - 87½ 85~- 85½ 84.¼- Si¼ 84!,4- 84~ 84 - 86~ 87¼- 87½ 86 - 86½ 86¼- 86¾ Consol., a-old, 193~ .. 4 80¼- 83 82 - 88 82:J.4- 83¾ 82%- 84¼ 82½- 83½ 80~- !:12 61½- 82 82 - 84 83 - 84½ 88 - 81 81 - ES¾ 79½- 81:J.4 ~t • .P. M. & lU. -~d .. .. ti 110¼-111 - ........ . 108¾ -108 ,,, .. . - . . 113 118 - . . . 1077kl08 LOS -108 10814-108:J.4 l ■t, conaol., 1933 .... fi .. . - . .. 187 -137 137 -138 186 -187 .... - •... 189 -130 13::!¼ 138¼ 138¼· 138¾ 189 -139 1311¼-140 130¾-139}.i 130~-180),g Reduced to ......... 4¼ 112 -112¾ lll¼-111¼ 111 -111¾ . . . - . . lll:J;t -111¾ 118½-113¾ lll¼ 111½ .. - ........ - .. . 113}11-115 118%-113~ 118¾-113¾ Dakota Exten11lon .... ti 112%-112¾ 112¾-112¾ 112¼-1121Jf, 112¾-112~ 110¼ -110¼ ... - . ... 111:k; ·llll}(i lll¼-111½ lll½-112 M.ont.Ext.,l11t,1937.4 108½-104 104 -104½ 103¼-104¾ 104~-105 .... - .... 103 -103¼ 10!! -101 104)(-10-!¾ 104 -lOH1. 104),g-105~. 104¼-105¼ 102%-103 J Rea-l11tered ........ .. 4 .. .. LOS~-103½ ... • - . .. . .. • E. M. ht div., lat .... ~ .... - ... . 104¾-104¾ .... - .... 104!,fi-104¼ l01¾- 1041>a 102¾-102lk, .... Minn. Union, lat ..... ti .... - . .. . 128 -123 124 -12i - . ...... . - ....... Mont.Cen.,l ■ t,1931' . ti 135 -135 .... - - .... 136½ 186:½ •· .. - .. . t ■t, ,iuar., 1D3'7 .... ~ ... , - .... 118¼-118¼ . ... - .. . 120 -120 . .•. 119%-120 WUl.&S.F., Jat,'38.~ .... - .... 121¾-121~ - . .. . 109:k;-109¾ s. Fe .Pre ■ • & .Phe .... . o .... 108 -108 .. . . .. . 110 -110 -San Fr. & N. P., lat .. O ... . 86 - 89% 89¼ - 00 90 - 91 90 - 91¾ 8>1¾- 90 89¼- {JO 88~- 891(§ l!leaboard Air Llne .... 4 89¾:- 80 91 - 92 90 - 91J.i! 85¾- 88"' 85 - 86 Colla't. tru ■t, 1911 .. :} 108¼-104¼ 104),g-104~ 104 -lOi¾ 104 -104¾ 102 -102~ 102¾-103:k! 103)4-104½ 104 -105 104 -105 104"•105 102)4 lOt~ 102¾-1021( Atl.-Blrm., lat .... .. 4 95l'-( - 9614 - • • • . 98½- 9:3~ 98½- 98~ ... Car. Cent., J st, '49.4 .... - ... .. .. - ... . • •· Fla. c. & Pen., '43 .. 0 .... - ... . 109 -109 109¼- 109,½ ... Ga. & Ala., ht, con.;} 109).ji-113¾; 118¾;-114 112¼-112½ 111¾-112!,.4 lll¼-112 112¼-112!,t lll½-113 .... - .... 112),g-112:½ .... Ga.Car.& N.,lst.,iu.~ 110 -110 .... Carolina Cent., con.ti .... 98 - 98 95 - llS¾ ... !.'Southern Pacific Co.1st, refund., 19:i:i .... 4 .... 97~ 97% 96¼- 97¾ 97 - 98½ 96¾- 08 96¼- 97¾ 95½- 96½ 96½- 97¼ 06~- o -¼ 96¼- 97~ 96¾- 97¾ 96½- 97¾ Rt',iistered. ........ 4 . ... - . . . . • •. - . . . . , . . - . . . . . . . - . . . .. . . 9,7 - 97),( ~-~-year, 190~ .... .4½ 101 -101¾ 101¼-101¾ 101¾-101½ 101½-101¾; 101¾-102 .... - • . . - ... . . ... _ Collat. trust, 1949 .. 4 95 - 97¾ 96 - 90!1:i 06¾- 96 95 - 95¾ 94¾- 95~ 112),(- 93½ 03 - lM¾ 94¼- 05:J;t 95¼- 96½ 95 - 96 95),g- 96 OJ~- 04.¾ Rea-lstered .......... .4- .... 91 - 91 94 - 9i .... - .• - .... .... - . .• . .. .. - .. . . ... - . ....... Austin & N. W., lst.~ 108% -111¾ 109½-lOOx, .... - .. .. - .... 104 -111 .... - ....... Ven. Pac •• l11t, ret.,i.4 102¾-ll,4 100¾-101¾ lOQ¾-101¼ 101 -101!:( 101 -lOllk, 101~ -101% 101¾-lOJ~ 100~ 100¾ 100¼-102 LOl -102 100~-101¾ 101 -101" Mort., ,iu., ,i.,'~9.3½ 88¾- 88% 89 - Sil½ 80 - tH4 89 - 89~ 8113'- \JO b7).ji- &!¼ 8S - 89 88¾- 80¼ 89 - 811¼ 89 - 8&1½ 89 - 81.1½ 87¾- 8 7~ Through St,L.,l11t.4 .... - . .. . ... - , . . . .... - ..... . .. - . ... Oil - 09¾ 101¾ 10:~ G.H.& e.A.,lsl.'10.b 110¼-110% 108J.g-108>1i l08711 -l08J.g . ... 107~-lOi¾ lll, & .P. Viv., 1st .. ~ .... - ... 1183'-116 118 -115 111 -111 110 -110 Glla Val. G.&N.,lt1t.a ... - ........ - . ... !OJ -1011½ 110 -110 - .. . 107¼•107¼ .. .. H.E.& W.Tex., 1at . ... 105½ -105½ 107¾-107¼ .... - ... Hous.& Tex.U., llilt.~ 110%-111¼ lll¾-111¼ lll½-111½ lll¼-112 111 -112 112 -112¾ . . • - .... lll¾-111¼ Lll -111¾ 112 -113 l ons. ir,, 191 :I ...... ti .. .. - ........ - . . . .. .. 112¼-112½ U0½-110x. UU½-1Ll ½ 111 -111 General, a-., 19~1 .. 4 115½- 05¼ 07¾- 98¼ 1:18!,t 100 99 -100 90½-100 90½ -100¾ 100 -100 - .... 100 -100 :,,, I.IS - 99½ QS.l,i-09 ~ 1-<8¼- 99~ Ore. & Cal., let.,gu.~ .... - ....... - .. . . .... - .. . . 101 -101 104¼-10!'1! .... - . .. .. ... - .... 10.J~-108~ .... l!!lan An. & Ar. Pnss.4 83 - 91¼ 90¾- 91.xi 90¾- 91~ 89 - 90¾ 89 - 90 89¾- 110 88 - so 88¾- 89 681)4- 89¾ 88¼- bO¾ 89¼- 90¼ 88:J.(- 90 80.Pac.,Arlz.1909... ti 106 -101:% . ... - •.. . 108¾ 106!::( .... .... 107~-10 . ¾ .... Isl. 19lu ... .... ..... ti 10[!),g-109¾ .... - ........ So. Pac. Cal., lDO:i .. 6 .... - ........ - ... . .... - ........ - .. . ..... - .... 108 -103 ..• : l11t, 191~. E & F ... t, ... - .... ..• - . ... 115 -115 ...• - ........ ........ - . . . ll2J.g-112¼.... let, l!JJ~ .............. b . ... - .. .. 114½ 114½ .... - ........ - ...... .. bt,con.atp.'0~-3'7 .:} 108¼-108½ 109),g-10.·¼ 109¼-100:X, 109:k;-10~ . ... - ... . 108¼-108¾ 108¾-108% .... s. Pac., N • .Uex., 1 at.ti 108 -10.i 109½-10&1)1, .... - ........ T.&N.O.,l!!lab V,,l ■ t.ti .... - ... 112 -112.xi . ... - .. ...... - .. . . .... - .... 110¼-llOJ1! 111 -111 Con11ol., a-old,1943.:} .... - ... . ... - . . 108¼-108¼ .... - ........ - .... 111 -111 .... 18outhern1•t, con11ol., 1994 ... . ~ 117¾-120¾ 119~ ·120 119~-119¾ 118¾ -120 llSU-120 119¼-121¾: 118 -119 118~-120~ 120),g-121½ 120~-121¼ 119¼-121 120 -12lf M. & O. col. tr., '3~.4 96:U- 118¼ ~ - 90 lltl¼- l:l'i¼ IJ6½- 97¾ 07~- \J:l½ 97 - 98½ 99 -101 10()¾-102 1,9¾- Oil~ 08~- IJ9 u7~- \!8>1, 97),g- ~ lllemp. Viv,. 111t.4~-~ ... - ... . .. .. - ... . US -118 - •... 118¾·118¾ ... - .... 118 -118 .... - . . . . ... - •••.•.•. St. Loul11 Div., l ■ t ... 4- 98 - 98¾ 98¼- 99 9ll -100 98 - 110)4 09),(- 09:!a 100),(-lCO),( 97¼- 98¾ 99¼-100 90,1,t- 09½ 99¾-101 10()¾-l 100~-10:t. Ala. (.;ent., lst ........ ti .... - ........ - .... ll7½-117½ . ... - • . .. .. - .... 118 -118 I - - ~~~:: ~::;•n~::•~!~:: -~~.~ ~~~ :::: .E.'l'.Va.&Ga.,Dtv.. ~ Con8ol., 1st, ,i ........ ~ E. Tenn. reor,i. Uen. :} Ga. Pac., ht, a-old ... 6 K.nox. & O., l11t, ar, .. ti Rich. &Dan.,con.,,i.ti Deben., ■ tamped~ .. :} Rich. & Meck,, lat .. 4 So. Car. & Ga., 1st .:} Va. Mid., eer. E, '~ti.~ l!!lerlee F, 1Y31 ...... ~ General, 1936 ...... ~ ·'JStRmped, 1r11or .. .. ~ Wash.O.& Wes,lst.4 ~. N. Car., lilt, con.b https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis = :· .. .... - ... . lU -114 - 8 98½- ll 7!! .... = :::. i~6¾=1i6~ :::: = .... :::: - ::: : :::: - ::: : :::: - :::: :::: - 114¾-114¾ lU -lli 116 -116 121),g -122 121¾-m 121¾-121% 122 -122~ HIJ½-lt O½ 114¾·114% 116 -116 114: -114 .... 128¾-128.J.,i 128% -1~% 124¾-124¾ 124¾-124~ 125 -125 123¾:-123¾ 126¼-126½ . ... - .... 127 -127 .... - •..• ll~-115¾ ... - . . . 116¼-111:% 116½-118 116!'4·116¾ 112 -112¾ .... - . • . .... - .... 96¾- 98 108 -109¼ 109¼-lll 110 -110¾ 101lJ4-109% 108 -108¼ lU -114 . .. . . . .. - . . . . .... - .... 112~-112¼ 113 -118 lllSJs-115% 116 -116¾ ll5~-117 117 -1.17 114¼-114}ti i;~ =120¼ 120¼=120~ .... 124%-125 121¼-121¼ 126¾-126¾ .... - . ... 116¼-l16"Jti ll4¾-114¾ - .... .... - .... - ... . .... 11431)-lU½ .... - ....... - · - .... - ... . 114½-114½ .. .. - .. ..... 97 - 97 ll7M - 971}.a .. .. 115~-115~ 115¼-U.6¾ ll~ 116¼ . . . . .- ::::1:::: - :::·:::: I 116½ 115¾ UW¾=l20½ :::: = :::. L2·i~=122 .. ii~-¾~li~ ~~8 =119 .••• - .... 113¼-113½ 1151'-115¼ 115 -115 .... .. .. .... - ... . 124?,t-124¾ 124¼-12i¼ l2,l'4-124¾ .... - .. .. .... - ........ - ... . .... - .. .. 1. . . . - . . . . . . . . - . . . . .... - ... . .... - ... 116}4-116¼ 114!>4-114,¼ 115J,(-ll6:J.4 . ... - .... lU -114 =:::: io9'8~1ii .. ios~=lOS½l. 118 ~oi"=l~ -118 110 -110 109¾-109½ ... . 114¼ 114¼ . • .. - .. .. . .. . - ... . .... - .,_ .... - ... . - ........ - .. . . 118 -113 . ... - .... 115%-117 .... - .... 114¼-114~ . ... - • • . . .. - .... 114M-114!'. ... ... .. . - •.•. . . . • - ... . - .... .... - ... - .... - ....... - ... .... - .... ... - ... . - ........ 115 -115 · •• - ... . 115 -115 .. . . - . . . 115¼-115 ~~ 81 RAILROAD AND MISCELLANEOUS BONDS. 1906-Continued. RON O !iil . J .A NU.A RY FE BR'RY. M..ARCH. APRIL. - - -- - - - - - - - ·- - - - -- MAY. - --- - -- - JULY. A UGUST. 8 E PT' B ER, OCTOBER. N0V'BER DEC'BER. - - - - - - - - - - -- f-- - --j -----1---- - Low. High L ow .High Low. High Low. H igh !,o w. Hig h Low. High Low.High Low.High Lo w .High Low.High Low . High f,ow .Higb Term' I Ass'n o t !!!It. L.-- ----1•- ---1-- -·- - - - - -- - - + - -- 1 s t , 1930 ... .. . . . . . .. . 4 !-1 .... - . . . . ... - , . . 112½-112,¼ 111¼- l ll ¼ . ... - . . .. . ... - ... . . . . . - . . . . . .. - . . . . . . . - . . . . . . . . .. . - .. . . •• . • - . .. . h t, con s ol., 1 9 4 4 .. . . ~ 122 -1 22 . . .. - .. .. 121 -121 121 -1 21 . .. . - . . .. 122 -122½ 122¾-122;!4 . ... - . . . . ... - . .. . 121½- 122¼ L22 -122¼ 122 -122 Ge n. r e f., 1D~3 ... .. 4~ 98~-100 100¼-100½ 100 -100½ 101 -101½ 10 1 -101 . ... 99½- P9½ tOO -100 100¾ -100~ 101 -10 1½ 100!),(-l OO:Ji . .. - .. . . Tt>.x . & I•ac., 1s t, gold .~ 1201,4-12114 121 -123 122 - 123¼ 122½-123¾ 123 -123¾ 121 -121½ 121%-123 122¼-12! 12! - 125!,~ 125 - 125½ t , 4¾-125>1,. .. . - . . . . 'ld, a-, , Inc., ~ 000 .. ... ~ 96 - 97 97 -102 94 - 97 94 - 94 93¾- 94 94 - 96½ . . . - . . .. 95 - 97 . ... - . . . . 96½- 19¼ tuO -100 . . .. .... L R, Div. IJ. L,, 1st .. . :i .... - ... . .... - .. ...... - . ... 111 ¾-111~ . ... - . ... . . - . . . 106½ ·106½ 106½-106½ ... ... .. . .. . lll½-112~ "Toi. & O. C.- lst, ' 3~.~ ll~-114½ . ••• 1151,4-115¼ . . .. . . .. . . .. - .. 116¼-116¼ . ... - . . . ... ... - ... ll6 -116 llfi¼-116 1,4 L16 - lltl G e n eral, g ol d, 193:i.:, .... - ... . .... - ... . . .. . 110½-112 . . - ... . . . 110 -110 107½ 107¾ 109¾- 109¾ . ... - . . . . . . . - .. .• Kun.& M.,lst ,gu.,ll.4 96¼- 96¼ 98½- 98½ 96½ - 98¾ 95%- 1,J7x 96½- 96½ 95½- 96½ 97¼ - 11i¼ 97¼ - 97:Ja 9i:>¼- 99 '>f! 97¼- 98~ 08 - 98½ 98 - IJ8 !,( Toi. Peo.& w.-ht . . . 4 91 - 94 .... - .. .. 92%- 95 94¼- 95 94¼- 94¼ 94.½- 94½ 92¼- 93 [ 93 - 93 . .. - . . . 93 - 93 . . .. - . . .• Toi. St. L. & West. .. 3 ½ 89!,u- 90¾ 90 - 91 ¼ 90J.!a- 90½ 90¾ - 91½i 90%- 91~ . . . . - .. . 91 - 91¾ 91¼- 92 91 ¼- 91¾ 917.(- 92 0l x,- Oll>,t IH"¼.- 91~ ~0-ycnt·, ar., lH!l~ ... 4 83¾ · 84 ¼ 83¼- 85 85 - 86% 83¾- 85¼ 83 - 84¼ 8~¼ · 84½ 85 - 86 85 - 86):( 86¼- 87 83%- 85 8 l - 8 4½ SL¼ - 84 ·To1·. llum. & IJ.-l s t. 4 .... - ... . .... - . .. . 9i½- 97¾ 98¼- 9R¼ 98¼- 98¼ 97 - 97 98 - 93 - .. .. 98)4- 9 ixl b9 9 J½ ll9¼ - 91-J½ ... - .. • Uls. & Del.-lst, con .. t) .... - . . . . .... - ... . 11 2 -112¼ 113 -113 . . .. - .. . . 110~ -110¾ .... - .. . ..• - ..•..•.. - .. .. ll2¾· 112¼ 112¾-112¾ . .. - ... . 1111,, r e 1und,, 19~~ ... 4 95¼- 95~ .•.. - ... . . .. - . .. . . .. - .. . . . . - . . ...... - . ....... - ..•. 96¼- 96111 . ..• - ..... . .. - . . ..... - ... . Unlou PncHlc-1941 .. 4 104¾-105¾ 105¾-106711 105¾-107¾ 105½-108½ 106¼-106¾ 106 -107¾ l l·5 -106 L05:Hi-106~105~ -106½ 105 -105~10 11-~- lOb¾ 1"5¾-106~ Rea-iBtered .. .... ... . . 4 103¼-lOSy.j 104 -105~ 104½ 105 1041,4-104 x 104M-106 106 -lUtl¼ 105:1,(-105¾ -: . . .. 104¾-105¾ 10!¼-104½ 104½ -105 l >3½-105¼ l11t lien, conv., 1911.4 112%-122½ 120¼-138!-t 128¾-137:>.( 120 -138½ ll6 -121 119%-128¾ U7 -131¼ 129¾-137¾ 131¼-135:l:t La:3¼-13611, 129 -137½ 13! ¾ -150½ Reaistered .. .. .... . . .4 116¾ -121¼ 121 -121½ ... . - . .. . 137¾-137¾ _. . - . ... . ... - . . .. ... ... - .. . .. . . . . .. .. - . . . .. .. Or. RR. & Nav,,con.4 102~ -103½ 102¾-103¼ 102¼-103¼ 102~ -103i. 102¼-104 102 -10214 102¼ -103¾ 103 -103JJ4102:J,;!-103¾ 102¼ 103~102¾ -103x! 100~-101 01·. Short Line, 1 s t . . ti 126¼-127½ 124¼-126 124 -125¾ 124~-125¾ 126%-126¾ 125½ 126 126 -127 123¾-124~ 12! -125½ 125¼· 125¼ 12;,,4-l .:6 l.'4'M-125½ Or. S, Llne,lst, cons.~ 117½-118¼ 118½-119!,t 119¼- 120 119)4-120 119 -119¾ 119;;(-119¼ 117½-117½ 117¼ •117;14 118¼-lU!¼ 118¼-119~ 119~-119¾ 119¾ · 120¼ 4s& partlclpotlnll• • 104¼-104~ ... - ... . ... - ... . .... - .. . .. _ . . .. . ... _ .... . .. _ . . .. .. .. _ .. _ . .. ... . _ .... _ . . .. ... _ . .. . C~uar.refund.1929 .4 97¼- 98 97¾- 93 97¾- 97~ 97½- 07~ 9 7}(- 98½ 95¼- 96¼ 96 - 96;.J 96% · 97¾ 96½- 97 06¾- 97¼ 96¾- 97¾ 96¾- 96M H,t>lllsteret1 . . ..... . ... 4 ... - ... . .. - ... . ... - . .. . .. . - . . . . ... - . . . . .... - . . . . ... - ........ - . . .. .. . - . . . . .. - ... . .... - ... . 96 - 96}i Vandalin, COD80I., a-.. .4 · ••· - ... . -.. - ... . . . - .. . ... - ... . 104¼-104),d 104~-10~ . .•. - ... . 103½-103:J,t ..•. - . .. . . . - ... ... .. - . ... ... - .. V, ra t;ruz&l'ac. lst.4.x, . ... - .. . . ... - .... .... - .. . . . .. - . .. . .... - .... . ... - ........ - . .... . .. - .. . . . - .. . . 1013' 101¼ 101:)ji-lOll)ti - ..•. Vn. & S. W .-llilt, au . I> 107~108 109 -lOJ 110 -110 . . . . - . . . . .. ...• - .. . . 112¼-112¾ .... - .. . . 112½-1121,,i 112½ 112~ ll2 -112 110~-ll~ U 'abasb-ht, g.19a9.ii 118¼-119 118¼-119½ 118)4-119½ 118,(-119.x, 116 -117¾ 117 -117¾ 117%-118~ 118 -118¼ 118 -118¾ I H:¾-lHl!,{a ll6 -119 ll4'j4 -116 !lll mort., aold, 1939.:, 111 -112½ 109½-110¼ 108_¼-109¼ l07½-109J.{i 107 -108½ 108½-lOOX! 109;;{ 110 107 -lOi¼ 107 -107½ 106¾ 107~ l0tl:l4-108:Ji( 106¼ ·107¼ Deben.lnc., 1939, A.ti . . . . . . . 90 - 90 - . . . . ... .. .. - . . . . - ........ - . . . . . . • .. 90~- 91 . . . :_ . . . . .. - . . . . .. - ... . Deb, Inc •• 1939, B . .. . ti 66½- 69½ 63 - 71¾ 69¾- 84:14 74 - 82 'iO - 76¼ 72 - 74¼ 68½- 73>c 70 - 73¾ 70¼- 78% 71½!-7 O:J,t 72¼- 77~ 73¾- 77 lBL lien equipment; ... ~ . ... - ....... - . . . . .. - .... . . - .. 102 -102 102 -103 . ... - . .. . 103 -lu3 ...• - ... . . .. - .. . ....• - . . .. 102 -102 1st lien terntlnal .. . .. 4 . ... - . .. . .... - .. .. ... - .. .. 92 - 92 . .. - . . ...•• - •••..... . .. ... - .....•• - •.. . · -· - .. . . .. . - ... .. . .. JI, & Ch. Ext., 1940.:i lOQ¼-110 .... - . . . 110¼ 110!,i .... 111 -111 . .•• - ••.. 111 -112 111 - 111 . ..• - •.. . 110¾-110¾ ... - ... ... .. - .. •. Omaha Div,, 1941.3~ 86 - 88¼ 88 - 88 88¼- 88~ 88 - 88 .• - .• • • •• - •••.•••• - •••. .. •• - •••••••• - •••• . ..• - .•• . ••• - • • • 87½- 8n. 'J'ol. & Chic. Dlv . .. . .4 97¾- 98¼ . ... - . .. . . .. - .... . . .• - .. . _ ... . .... _ •...... - . . . . .. - .. .... - • . .. . ... _ .. . ~ .. . . . . _ .•.. Wnb.-Pitts. Te'r.-lst.4 ... - ... . 95¼- 95¾ 93¾- 953i 94 - 93¼ 87¾- 90¾ 90~- 91¾ 86½- 9011 87¾- 90!14 90 - 91 88~- 90 88 - 90 86 - 88 lld, llOld, 19~4 ....... 4 . ... :- ... 42¾,- 45-U 42 - 45¾ 38¾- 43 35 - 40¾ 87¾- 41~ 37¼- 40¾ 87~- 3S¾ 36½- 38¼ 35¼- 37¾ 3l¼- 3tl 81 - 36~ We1ot. Maryland-ht.4 90~- 93¾ 91¼- 93¾ 92 - 94 89¼- 91¼ 87!J4- 89¾ 88 - 89:>11 88 - 89¾ 87¾- 89111 80¼- 90 87¼- 88 87 - 58 86 - 87¼ Gen,&couv.a-,19;)~.4 . ... - ... . .... - . . ..... - . . .. .... - . .. . .... - ... .. - ... .. ... - ........ - . . . ... - ... 68¼- 68¾ 65 - 68¼ W.~.l'.&P.-lst,'37 .:i .. - ... 118 -118¼ . . . - ... . 119 -119: - . . . 119~-119}i . ... - ... . ... - .... . ... - . .... .. . - .... 118¾-llS~ LU -119 Gene • al, 1943 ........ 4 98¼- {,8),d 98¾- 98¾ 98¾- 9 ¾ 97 - 97~ 06¼- 96~ 1,J7¼- 98¼ ..•• - ... . 07¾- 99 98¾- 99~ 06¾- 96114 98¾ - 9d~ 96¾- \16¾ W.Va.C'.&P.-l ■t,'11.ti .... - ... . 111 -111 Ill -111¼ 112 -112 l12 -112 .. - ... . . .•. - .... 110 -110 .. - . . . ... - . . . . ... . - . .. - ... . Wheel.& L.E.-lst ... ~ 114;;(-114~ .... - •.•. 114¼-114¾ .•.• - .. . ..• - .......• - .•. . .•• - •.. . . .. - ... 113 -116½ ... - ... . .•• - .. . .. - ... . Wheel. Div., 1st...... :) .... - . . . . ... - . . . . . . . - . . . . .. - ... lli¾-114¾ . ..• - . . . . ..• - ...... . . - . . . . . ... - .. .. . .• - ... . . ..• - ... . ... - , ..• Ext & Jmpt., 1930 .. :; lU¾-114~ 113 -114 114¼-114½ . ... - ... . ... - .•.....• - ... . ..• - .... lll½-111¼ · ·- - .. . . . .• - •.. . . .. - ... .. - •••• !lO-yr. equlr,., 19~'J.. ~ 102 -102 .... - . . . ... .... - . ...... - .... .... - .... . .. - .... - ... . ••• ·- ... 102¾ 102~ . . - •••• "1 ht CUD,, 194-9 .•••.... 4 93 - 115½ 94¾- 06 02 - 02½ 92¾- 95 93¼- 1)4~ 93¾- 94;J,j 92¼- 94½ 92½- 03 "11 90¾- \11 ~ 90~- {13 90½ · 91:)4 91 - 92¼ Wbcon. Ceo. Co.-J 11t.4 110¾- 114 9J ¾- 114½ 11:l¼- 04¾ 93½ · 94~ 93_¼ - l,J4¾ Oi¾- 96 O! - 94½ 93:)4- 05}4 9!¼- 95¾ I-J5¼- 97¼ 95 - 9J ~ 94¾· 96 8TR~liT ltAlLWAl'., B' klyn Rap 'l'r.-•4~ .. :i 1st, conv., llOO~ . ... . . 4 n·.ktyn u., 1st, con ■ .• :i B.Q.C.&~.,con.gu.~ B'klyn Un. El.,lst.4-:} ~tnmped aunr .. 4-:i Klna-s Co. Elev., 1111t 4 Stamped guar . . .. 4 Nassau I.lee., a-uar . . 4 'Uonn.Hy.& Lt.-ht.4 >1 Stamped aunr .. . .. .4 ~ Deti·oit United-ht .. 4~ tJavnna .hlec.-19:i~--~ Dletrop. St. Ry., aen I> ReJundina-, ll00~ .... . 4 B'y & '7lh Av,,1943.~ Col. & 9th Av., 1st .. ~ Lex. Av. & Pav. F •• D 3dAv., lst,au.,2000.4 ) 1 ■ l, 1931 . . ........... .~ lUet. \V. S. El. (Ch.) ... ,a 1St.Paul C,Cable,con11.~ l udeur'nd El. RJs. ot London p1·00lt-111h'ar. . :i Vn.Elev,(Cbic.)ls•, a- 5 United Kys,,:Sc.Loub.4 United RRs., San Jfr. . 4 GAS AND hLEVTRW. Brooklyn U. Ga11-l11t ~ BuJlo.lo Gns-lst. ....... ~ ~on sol. Go.• (N. 'i' ,)Conv deb. 1909 ...... t, Det. City Gu11, 1923 .. . ;) Detroit Ga11, 1918 ..... :; Gen. !£lee.- Deb., ll... 3.½ Uud.Cu.Go11-lat,'49.~ K. C. lMo.) Gas.-l•t .. ~ liinars t;o.El.L.&PowPu rcha■e money .... . ti Ed. El. 111. (B'klyn).4 Laclede Ga11-ht, a-.... 5 Retund. & ext.1934.:i Mllw. Gas-L.-llilt . . ... 4 11 '. Y •El.Lt. H. & P ... ~ Pur. mon. col. tr., a-.4 Edi ■ • El. Ill., ht,'10.:i 1 •t, con11., 199~, ar.. ~ ilil . \' .&Qu.El.&Pow.Con,, llold, 1930 ... . .. :; N.Y.&Klch.-19~L..:, Pat. & J 011. G.& Elec..1 t>eople'11 G. L. &- Lokt'ut, con .. a- .• J 94:J .. . ti https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 108¼-110~ llO -ll2x lll¼-112ll:I 109 -109 103¾-109 1087-t 109 10 l¼-110 109¼-110~ 110¼-112 109½-110 1r O -110,½ 107¾ 108 83¼- 85 S;J¾- 8tlx 85¾- 87 86¼- 89% 86 - 88\,4 87¼- \11¼ 88¼- 9u~ ~¼- 9J:k, 01¾- \14 11 1,J.:i¼ - 116x 9l%-1 02 ~ 1:8 -101~ ... - . .. . .. . .... - ........ - . . 103¾ 108¾ ... - .. .. .... - . . . . . .. - ... . .. - .. . ...• - ... . l07 -107¼ .. . .. 106 -106 106 -106 . .. - ... . . . . - ..• . •••• - •.• . . .. . - ... . . - .•. . . .• - .. .. . .. - .. . ..•• - .. . . . .. - . . . . t<3 -103 110¾-113!,4 110¼-111~ llO -111 109¼-111 109¼ 110;J4 110!,c-110~ 110¾-111½ 1081,ji-109¾ 108¾-109~ 109 -110 103 -111 11 >¾ 111¾ .... - .. . . .. - . . . . ... . - ... . .. .. - .. . .. .- . . . . .... - . . . .. - ... . . .. - .. . . .... - . . . . .. - ... 111 -111 111 -111 9t¾- 9tl.¼, . . . . - . . . 92 - 92¼ 92 - 92 92½- 93 93 - 93 . ... .... - . ... . ... - . . . . . . - . .. . . .. - .... 96¼- 96¼ 02!)(- 9lll,,t 92¾- 95 92~- 93¾ 91¼- 92¾ 91¼- 94 93 - 94: 03Jtl- 95 91¼- 04 93 - 95 03}(- 95 94%- 117 95 - 9i 87 - 91 89 - 90¾ 88 - 89¾ 87!14- 88l1! 87¼· 88 87!1:(- 80½ 87 - 87~ 87 - 89½ 89 - 89 8till:(- 00 8~- 90 E9 - 91 98 - 93 99½- 99½ ..•• - •.. . lOQ¼-100¼ ... - •... 101¼-101~ 101½-101¾ . ... - .•. 103¼-1G3~ ... - . .. . . . .. - ... . ... - ... . ... - •... . ... - . ... 100½-100¾ ...• - ... 101i,.-103X! 101½-101½ 102½-102~ 1021,4-102¾ tO::l¾-103 02}.(-102~ . •. . .. . .... - ... . . .. . - ... 95¾- 95¾ . . . . - ..•. 95 - 96½ 95 - 96 94¾- 96 94¼- 96 94¼- 95 91¼- 95}i 95¼ 96~ 96¾- 96~ .... - .... .. - ....... - .... 94 - 95 92¾- 94 92½- 93 92¼- 95 94¼- 9!~ 93¼- 93~ 91¼- il-!x, 94~- 95¾ 91¼- 95M 117¾-120¾ 116 -116½ 114¼-116~ 115 -116)4 114 -116 114¼-116 116 -117 114 -115 114 -115 114)4-116 Ll4 -114¼ 114 -116~ ilO!,{a- 94 93 - 94.½ 93 93¼ 90 - 91¾ 90 - 90¼ 90 - 91½ 90¼- 91¼ 91 - 91% 91¼- 92y, 89 - 907-1 81} - 8.•¾ 89· - 92 117¼-117J.f! 118 -118 118¼;-119 119½-119¼ 1191,4-119¼ 116¼-116¾ 116¼-116¾ . .•. - .... . ..• - •.. 118¼-118.x llS~-118¼ . . - ...• 121 -121 121¾-121¾ 118%-120½ 121 -121 120½-120½ .... - •... 120 -120 .•. - .•.. . ... - ... . ll9 -119 .. - . . . . . .. - ..•• ll9 -120¼ 120,¼-120~ 117 -120½ .... - •... . .•• - •... 120 -120 . ... . . .•. - ••. . ... - ... 118½-111-l~ LIS -118 t 17:J.(-117!11 114¼- 06 95 - ll6½ 06 - 117¼ 95½- 96¼ 95¾- 96½ 95½- 97¼ 96~- 96~ 96 - 96),d 05 - 95.x 94¾ - 95 :,., 91~- 0 ¼ 03~- 97 116¼-lll:S 118¼-118½ 118~-118½ ll8)4-118J,,t . .•• - .••. . •• , - •. . . . ... - •...... - ...... - . . . 118 -118 ll0 -119 . .. - ... . 90 - 96 95 - 95 . ... - •... . ... - ........ - . ... . •. - ... . . .. - ... . ..•• - ... 94¼- ll4x 94 - 94 .. - . . . . - ...• .... - .... .. . .. . .. - ... . . .. - . ...... - ........ - .. ... ... - ....... - . .. .... - .. . •··· - •· · ll4~-114½ •·· · - •··· 97 - 90~ .. - . . . &>}i - 86% 87~- 8J 116%-117 .... - ... 99 - 09% 99½-100¼ . . . . - . .. . ... . - . .. . 86 - 8!--¾ 88¾- 89 88 - 00 89 - 91 90¼-100 .. • . - . • • . 89 - 811¾ 88¾- 89)\ ll6¼ lHl¾ 116¼-116¾ 116%-118 70 - 7u 72 - 7a 66 - 09 09 -lOOX! 07¾- 93½ 98}.(- 98¾ 98)4- 99 . . . • - . . . . . . . • - •.. . 106~-106~ . . . - . . . 89 - 89½ ... 87¼- 87½ 871'- 87~ 88 - t8~ 87¼- i;o 81>¼- 91 00¼ - 91¾ 113 -116 68 - tld 113 - lH 68½- 69 98}4.•. . 87 91!-(- 98% .... 87¼ 92~ 98~. .• 87 88¾- 9 ,1¼ 9~¾- 99¼ ... - . ... 87 t! i ¾- 87¼ I/On 87%- SJ~ 96 - 97 . . . - .... 8;M- 89 87 -88M 113 -114 114 -115 ll4 -114½, 114!,v-1141-!- Ll2¼-113~ 113 -113 . ... - ... 72½ - 76.li 77 - 80 77¼- b7 ~~- 83x 79 - 83 174)4-17~ 178 -185}4 182 -187¾ 177 -182 l tlO -176¾ 169 -175 171 -173 100 -101½ 100¾-102}\, lvl¼-102 ½) 101¼ lOlx, lOL¼-103 lv2~-103½ 9\l½-101 .... - .. . .... - ....... - ... . . . .. - .. . . . ... - . . . . .. - .... . .. - 91 - 91~ 90¼- 90¼ 89¼- 89½ 89¾- 89~ 92½- 02!-t, 91 - 91 ...• .... - .... 109¾-109x •. - ... . .. . . - .. . .... - ... . .•• - ... . .... .... - ... . .... - ... . .... - ........ . . 100 -100 ... - ... .. ..• 125 -127 126}9-127 ... - ...... . . - .... 109 -109.l1i 106 -106}{i 92¼- ll2¾ 110 -110¾ 94%- 97~ 105½-106¼ 108¼-109~ . ... - . •. . ... - ... . 110 -111¼ 94¼- 1!6 105¼-105¾ 120)4-127 - .•.. 94¼i- 94~ 109.;4-lOJ:I-. .. - . . 111 -lllx, 93 - 94¼ lOa¾-104 119¼-H\I½ 124¼-124Hi . .. - .. . 108 -lOil 105½-lOa½ 92 - \12 110~-lll!,t 92 - 92h, l04¼-104!,4 . ... - , .•• - •••...•• - . . . 108¾-109.½ . .. - . .. . .•.• - . .. . 111)4 -111!,i. 04 - 95 103¼-1C3½ ll8X1-lld.>1, LO'il'l-108 106 -106¾ .••. - ... 106 -lu6 105 -105 172¾-1;5 168 -172 168 -174!>. 16U½ li0¼ 165 -17<'~ ... - .... 102 -103 101~-lOa LV3 -104 10! -106 . .. . ... - ... . 105 -105 . •· · •·· - •·· •· - •·• ... . . ... - . . . . 91 - Pl 91¼- 91¾ . . . . - .. . 90M- QOM .. . . . .. - ... . .••. - ... · ••· - ··· ···· - ........ - ···• .•...... - ........ - .... . .• . - .....•.. - . ...... - ... . 123 -123 . .•• - .... 122!1:(-lU 124 -124- 122¼-122~ 122%-122¼ ..•• .. . ... - . . . . ... - ... . .•.• - .... . ... ... \16 - 1!6~ 108¼-109.½ lOJ¾-110 lO'iM lOi ¾ 107¾-lOS,- 108)4-108½ 106¾-107 . • - •....... - ........ - . .. .. .. - ... . ...• - ..•. . .. - .... - • 92½- 9~¾ 92¾- 92~ O:::¼- 93¼ .••• - .. . 92¾- 92.½ 109),(-110½ lli9 -llOXi 110 -ll0;,.109¾ -llU~ llO -111 110 -110¼ 92 - 92¼ rn - 91 91¼- 92~ 91¾- 92 91%- 92~ 91 - 112 104%-104½ 105 -105 105~-105~ .••• - .... 103¼·103~ . . .• - •.. . ... - ... . .... - •••....• - . . . . . •• - •.. . ..•• - •... 119}.(-121 122M-122M 96 - 96 107 -lOoff . •·· - •··· 92~- OS 108 -109 90 - 91~ .•.. - .... - • • •• . ... - ... . .... - •....•• , - ... . ...• - .... 102¼-102¾, ••• - .•.. 102 -102 •••• - ····1103 -103 •••• - ;· •• 104M-104M - •.• • ... . - ....... - ... . ... .... - ... . 1ua -1oa ...• - ... . .... - •.. . •••• - ··· · ·• .. . ... - ........ - ........ - . . . . . .. - .... 105~-10.i}:( . ••. - •. . . . . . . - ••...••• - ....••• ., 125 -1:l5 127~-127¼ . ••. - •.•• 12~123~ 1239-t-l~ 12! -124 124 -12! •••• - ........ - 12S -123 123 -123 - ...• 82 RAILROAD AND MISC.B;LLANEOUS BONDS. 1905-(;oncluded. JANUARY FBBR'RY. BONDS. MARCH. APRIL. JUNE. MAY. JULY. AUGUST. SBPT'BJCR. OOTOBJCR. NOV'BJCR. DBO'BBB. ----. .. - ...····· - ..... ---- - - - ------- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - ---- - - - - - - - - - - - - - - - - - Low.High Low.High Low.High Low.High Low-High Low.High Low.High Low.Hli;rh Low.High Low.High Low.High Low.Rigb Peo.G.L.&Coke-(Oon.) ... .106¼-106¼ Retandln1r, 1941. . . . . ~ ... - .... .... - ... ... - .... 108)4-109 107¼-108 1 7¾-107¾ 107¾-108½ 108½-109 . ... .. . 108¾-109½ lOS}li-109½ 1 8¾-110 108 -108½ L08¾-108¾ 109¼-110 108~-108¼ 110 -110 111 -111 Ch. G.-L. & C., 1st .. ~ 108 -109 108½-110 .... 108)4-109 ... . ... .... . ... .106~-106 .... 109)4-109¼ .... 108)4-109 108¾-109)4 107)4-107¼ - ... 108¾-108¾ .... Con. Gas, lllt, 1936.~ ... . .. .. - ... . ... - . .... - ······· 1 ¼¼-104¾ . . - .. . ... - .... 102 -102 .... Eqnlt. Gas & F., lst.6 lOQ¼-100¼ .... ··•· - .... - .... 106¾-1G6¾ 103¼-103½ 103¼-103 Mutual Fuel Gas .... ~ .... - .... 106 -107¼ 105¾-107¼ 107)4-107¾ ··• · - ... ... - .... . .... - .... , - .... . . Trenton Gas& t:I., 1 st.,'J 111 -112¼ .... - . ... 110)4110% .... - ·•• · 110 -110 ... - .... .... - . ... .... ... - . .... .... - .... .... - ... - . - .... ·••· - ·••· W estcbester Llaht .. .. .> 111)4-113 MISCELLANEOUS. Adams Express-Coll -4 103½-104 104 -105¼ l03 -103,-s 103¾-lO!l 103¾-104 103¼-104 104 -104½ 106 -106 102 -103½ 102)4-103¾ 102¾-lO!l¾ l02;J4-10i 54 - 54 - ... 56 - 67x, 56 - 57½ 56 - 58 55 - 65 48 - 40~ 62 - 52 45¼- 45½ 4.6 - 46 '19¾- 50 .... B'klyn Fer., 1st, cons.~ 103 -108 - .... .... - . .. ... - . ... . - .. . . ... . - ... . .. .. - .. . .... - .... .... - .... .... Ch.J.Ry&U.SYcts'l~ . .> 77 - 77 .... - . ... 76 - 76 75 - 78 71¼- 74 .... - .... .... - -·· 76 - 76)4 .... - . ... 77 - 77 Det. M.& ill. L. G.-Inc. .... - . .. 78 - 80 97 - 97 N. Y. Dock-~0-ye,ir .. 4 g5 - 96½ 94¼- 95 95½- 06~ 96 - 86% 95¼,- 96½ 06½- 97 97½- 98 96¾- 06½ 97 - IJ8 96 - 98 96,½- 9 99 . ... •• . 100 -100 .... .... 09 -100 .... . 08 - ······· - .... 99 - 99 98 -100 .... 99½-100 Providen t Loo.n,'21.4¼ .... 100½-100½ .... - ··· · · -· - .... . - .... - .... .... - .... ... . ... .. - .... . ... - .... St. Jos. Stt. Ydl'l,lst 4½ .... - . ... .... - ... 99:J:(-102 100 -101'4 100)4 101 100 -IOU¾ 09 -102!,,i 101 -103~ O! -1:16¾ 96 -103 84 - 92}1i 90¾- 97 83¾- 84 U.S. Red. & Refln'g,.ti 83¾- 84 TELEG HAPU ANIJ TELEPHONE. .... . - . .. 96 - 95 93}9- 93¾ - ... 96¾- 96¾ . ... - .... . ... 07 - 97% 98 - 98¼ 08¼- 98½ Am. Teleph. & Tele,i.4 .... - .... .. .. - . . ... - . .. 98 - 08 .... - . .. . 96½- 96¼ . - ······ . .. . - .. .. - . .. . ... - . .. ... - .. .. Commer' I C-. ble, 1st .. 4 . .... .... ... . .... - .... .. . - . .. . 109½-109½ .... - .... .... - .... .... - ... . ... - .... . .. - . ... .... . Met. Tel. & Tel.-lst . .:j .... W. Union Tel.-1938.. .> 110¼ ·111 111 -111½ Ill -111½ lll¾-111¼ 111 -112)4 113 -113 108%-111½ 111%-112 111% -112¼ lll¼-112',.t 110%-111¼ 109 -110~ 105),,6-106 -106 105 106 104¾-105¾ 104¼-106¼ -106\k\ lO<l¼-10'1¾ 104~-105 106¾-106~ Fund. & R. E., ':i0.4½ 104.%-105% 105¾-106¾ l06½-107 106¼-107¾ , .... .. - .. .... - .... 107¼-lOi¼ . - ... 106 -105 . l10),(-ll0¼ . . - .. Mot. Union Tel.,•• t.6 ... - ... ... MA Iii U I.( A CTU Kl NG A"'D IND l STIUAL. . .. . 9IJ - 99 98¼- 98¾ 97¾- 08¾ 98 - 98½ 96¾- 97 97¼- 9d 98}.f- 98➔.t 99%-100 Amer.Cot.011,191:i 4½ 100 -100¾ 100:1(-100¾ 100 -101 g6¾- 97¼ IH - 98 93 -l0IJl,4 05~- 118¼ \J4¼j- 96 95%-100 91¾- 96 Am.Bide& Lea.-lst.ti 97 -100¼ 911,4-100¼ 07 - 08½ 97 - 98¾ Otl¾- 98 77 77¼- 79½ 79 - 81¾ 80¼- !:la½ '0¼ 82 . .. 7 .... .... . .. .... .... .... - .... 81 - 82½ 82½ · 87~ - .... Amer. lee Secur., deb.6 IJ6 98¼1:19 101 98 .... ... 04 101¾-102¼ -101½ 116 -101}1j 95 95 94¾95 96 101 97 -9~ 101½-102½ 05 Am. Spirits Mfa.-lst.6 87½- 00 89½- 8 •~ ... - . ... IW¼- lil liO~ -OOhJ 89¾- Olx, 9~- 03 87¼- 88 Am.Thread-1st coll..4 88¼- 89¼ 68¾- 88% 97¾ · 881)4 87½- es Amer. Tobacco, 1944.6 UO)d-113¼ 113%-117½ 115}4-113)4 113 -115½ H0½- 114 112¾ -115¾ 114:'-(-116 115½-116¾ 116 -117¾ -la\..t-114½ ll:J% lHS½ 114½-116¼ - . .. . . .. - .... 111:S -116¾ 113½, -113¼ ·-· - ... 115~-115~ - ... . 113¼-114½ 111~-lll¾ .... - . ... Rearl•tered . ............ 6 111 -111 115 -116¾ ·• 7t:i¼- 80¼ 78½- 80:U 79~- 82~ 73¼- 777/4 73%- 75% 73 - 75¼ n - 74¼! 73¾- 75¼ 75 -76¼ 74 -76½ 75 - 7d Gold, 19~1 ............. 4 71 - 76 74, .... .... ... - . ... ... - .... . ... - . ... 79}8- 81 ... . . . ... . .. . .. .. . .. .... . 74.¼ ... Reailltered ........... 4 - ... . .... - .... . .. - .. .. . .. - .. .. ... - . ... . ... - ... 90½-lOJ¼ 100 -102 101¼-102.!1, ll11 \¾( -10il)g 99¼-100½ 99¾-100¼ Cent Lenth'r,20 .yr,a,:; 80 - 81!)4 80 - 82 80¾- 82~ 80½- 82½ 71:l¾- 80½ 78 - SL 80}4- 82!,p 79 - Sll½i 7d¼ - 81 80 - 83 Consol. Toboc., :;o.yr.4 74 - 84½ 80 - &3 70 - 80¼ &O - 81¾ 80¾- 82¾ 79~- 1-'1¾ 79¾- 1-1% 8L - 83¼ 77½- 80½ 'jt,_Lfi- i-0 Dillt. Secor. Cor.-l1tt.:; 79 - 80¾ 79 - 80½ 70 • 82½ 78!,:.i- 82 l(J0½-110 108 t O Ol-t; L07¼-108½ -109:ij iOti¾-110 108½-lOIJ~ 1 ,9 -110¼ -108 Intero'l Pnper-ls1 .... 6 109~-109;14 l08 -109 109 -109 108¾-109½ 109 -110 91 - 96 1:11_½- 92½ 92¾- 96 : 4½- 06 92 - 96 . ... - . ... 93 - 95 3¼- 95 94¼- 98¼ ll7 - 98¾ - .... Cons., conv., 193:i .. . :; ... l03¼- 104 103 -10:$:J.( 103}2-104 1•14\-8-101¾ Int.~team Pump,'13.ti 102;1:(-104 104¾ 104~ 104 -104¾ 103¾-10!~ 105 -105½ 1 5¾ -10~ L03¼ 104 .... ... - .... ... . - . ... ·-· - .... .... - .... ... - ... . .... - . ... .. - . .. 1!7½-IJ~ .. .. - . ... . ... - .... 08 - 9i Knickerb. Jee (Chic.).~ ... - .. Lack a. Steel, 1 ■ t '23 .. :i 104¾- lOi¾ 106%-108 l06~·107¼ 105 -105~ 104¾-106¼ t 5 - 105!}4 105¼-106¾ 106¾-107 105¼-108 I0-1¾-105 104½-105 L0 1l)4-107 85 - £l5 87 - 88 85 - 85 85 - 85 - .... Si¼- 87½ 85 - 89 85 - 85 85¼ill½- 92¼ ... - ... Nat.8tarcb M'~g-1111.6 01 - 93 71) - 70 71 - 75 . ... - .. 76 - 75 N .Sto.rcb Co.-~.1.deb .:; .... - . ... 'iO - 70 60 - 'iO 60 - 60 69 - 60 59 - 71,-s 68 - 68 .... 63 -6'1 51 - 52 50 - 53½ 51½- 53 50 - 51¾ 40 - 49 53 - 59¼ 50 - 54¼ 60 - 52 42¼- 41J¾ 46 - Si Stan. Rope & T.-ls1 .. 6 42!,i- 48 3 - 4-¼ 2%- 3 6),.(- 8 2¾- 3)4 3 - 3"9 ¾- 4 4 - 5% 4¼- !¾ 4 - 4 2¾- 6 Incomes, gold, 1946.:i 1¼- 5½ 1!,{i- 3 U .s. Leo.ther-Deb.s.f.ti lll¼-112 112 -112 112 -112 112 - lli½\ 108½-110 1 9 -110 109 -119 uo -llO)d 111 -111 ... - . ... 108¼-108¾ 107¼ 108~ 99 -100 9d - 09% 90 -100 05 -10:3½, LOl -103½ 100 -103¾ tOO -101¼ 1 l - lOZ¾ 00 -100½ 90½-100½ 99¼,-101 U. ~. Realty & Imp ... .> {13 - 95 U.S. St. t;orp.-~d,'63 .."> 92 - 94¼ 93¼- 95¼ 93½- 05½ 1'15¾- 9~½ 021,.i- 94~ 92¼- 94:,.,_ 9i¾- 95¼ 95 - 98 96%- 9til-\ 9 ¾- 9J¾ 04¾- O,¾ 05¾ · 07 9ti¾ 94½-- 97¾ 95¾- 07¼ Reaistered .... ........ . :; 92¾- 94¼ 9:$% - 05,i. 11::>4- 951¾ 94¾- 07¾ 02),d- 95)4 92¼- lH¾ ll4½- 115Jd 95¼- 97¼ 96¼- 98~ 06 . - · •• · 99¼-100½ . ... - .... 100½-101 Va.-Co.r. Chemical . ... .> ... . - ·•• · .... - .. lUl -101Xt OU%- 99% 09¾- 99% · • •· COAL ANIJ IRON. Col. F. & 1.-Gen., s.f.~ 103¾-104 102 -103 ~. 10J%-10:'>~ 103 -10!¼ 104 -105 105 -105 103¼-103~ 103¼-103½ 103¼-103:1,i 103 -103~ 10.3 -103 103 -10'1 .. - .... .... - ·- 85 - 65 ... 1:10 - 1:11) .... .... .. - -·· .. - .... ti6 - 110 Conv. deben., 1911..:i 85 - t-5 - ... . - .... ;;, Trust Co. certltlc't11 84. - 85¾ 84¾- 81JJ.li 88¾-- 89½ 87 - 87½ .... - ·• ·· - .... ... - . .. . . ... - . .. .... - .... .... - -·· . .. . - .... ... . - .... Col. Ind., 1st, conv.A .:; .... - ... . ... - . ... - . .. . 73 - i 6¾ 67½- 73% 70 - 73 7~¾- 76 70¾- 73~ 71¼- 731'JI 72%- 75¼ 72½- 76% 73 - 79~ 'il - 74¾ 70 - 72½ 69 - 72~ 71½- 73¾ 71½- 73¾ 72 - 78¼ 68¼- 71 lllt, coll. tr., 1934.B a .... - ... ... - . .. ··•· - . ... 69½ · 7i½ 60¼- 71 .... .... - .... 104½-10-1¼ .... . ... - ·•·· 105½-105¾ K.&Hock.C. &C.,lst.;; .... - .. .. .. - ··- ... - .... l06>11-l06½ 107 -107 . ... 9_; Tenn.C. I.&Ry.-Gen.~ 93½- 97½ 98½-100 07½- 98½ 99 - 09¼ 09¼-100¼ 100 -10:t 100 -100¾ 100 -luO'¼ 98~- 99¾ - IJ8½ 1!8 - 00¼ QS¼-10() Tenn. Division ...... . ti 110½-lll .. .. - ... . ··• - .... .... - . ... ... - . ... 110 -110 . . 112 -112 112½-113 110 -110 110 -110 110 -110¼ Blrm. Div., 1st, con.ti .. . 110¾-112 lll¼-111)4 lll¾-112 112 -112 112%-112¾ . .. ... 110¾ 110¾ - .... 112 -112 111%-112 112 =112(?> De Bard.t:.& 1.-Gu.6 .... - . .. -1oa - 1••3 .... 103~-10:.l½ 103¾-106 .... - .. . . ... - ... . .. . - . .. . ... - - •· W-t½-104½ .... ······ .... Va. lion V. & c.-ll'lt .. :) 8tl¾ · 03¼. - 92½-- 93¾ ti8 - 9u¾ 8!S,a- !JU)i 86 - ts9 oil - Ouxi. 90 - 90}' 87½- 90 !JO - 112 90 - 9i 91 - 92¾ b6 - 90 . - - ... ... ... .. - .... .... .... .... .. - .... ... ~ ... - - .... .... - .... .... - .... .... .... - ... .... - - .. .... .... .. .... ... .... ... ..... .... - ····· .... ... ... ... ... ..... ... ... - - .... ... - ... ... .... .... ... - ... .. - .... - .... . - - .. .... .... ... - .. ... .... - - ... ... - ... ... - ... .. . .... - - - ... - . - ... .. ... - . s·, - .... .... - ... ... .... .... - ... - .. .... - . ... - ... .. - - - ... ~ - ... . ... - .... .... ... - 1906. BONDS. ----------1 JANUARY FEBR'RY. MARCH. APRIL. MAY. J U NE. JULY. AUGUST. SBPT'BER. OCTOBER. Nov'BER. DBO'BER. Low.High Low.High Low.High Low.High Low.High L w .lllgh Low.High Low.High Low.High Low.High ,. ow.High f,ow.Hii;rh - - - - - - -- ---- - - --- - - - - - - ·- - - - - - - - - - - Ann Arbor-1st, '9~,a-.4 97 - 99 97 - 98½ 96)4:- 97¾ 94 - 97 90 - 93¾ l¾ - 05½ 00 - 92 90¼- 91 91 - 91 90½- 93¼ 93 - 93½ 03 - 93 Atch. Top. & S. Fe.General, gold, 199~.4 102~-104½ 102!,4-104¾ 103¼-104½ lOO -102¾ l00¼-102}1i 101 -103¾! 101% 103¼ 101¼-102¼ lOl¾ 102~100¾-101~ 100¾-lOl~ 100%-lOSi. RelliStered ... ....... .4 10'.!;(-103½ 101¼-101¼ 101¾-101¾ 100¼ ~10014 99½-101½! .. •• - .•• . lOll)ji -103¾ .... - .•.. 102 -1oi 10) -lOJ~ l00¾-100¼ .. - ..•• Convert.,llold, 19:;:;.4 102¼-105:1,4 102 -105~ 102¼,-10! 101!>.(-103>{j 101½-103% 100¾-101¾ 1007-(-102>.i 10'.2¼·109 105~ 110¼ 10!~ 10;) 101½- 108¼ 101¾-107 Re11:lstered ........... 4 .. . - ....... - . ...... . - ... .. ... - .... .... - .... 108 11-tOi½ . - . . ... - ....... - ... . War'ts, :JU-yr. conv.4 . ... - ........ - ....... - .... 101!)4-102½ 101¾-lOl)d 101 -101½ 100!¼\-101~ 102 -108~ lOl.1½ ·109¼ lOli}ji-107.½ . ... - .... .. . - ... . Acljustm't, ll •• 199~. 4 94¼- 97¾ 95 - 96¾ 94;J4- 96½ 04¼- 96½ 91 - 05 9i - 95 93:J.(- 95 95 - 90½ 06 - 963/4 96 - 97¼ 92¼- 92¾ 92 - 93 Stamped, auar ...... 4 94 - 97 05 - 97 95 - 96 93 - IJ6¼ 91 - 93 92¼- 93 02 - 03 02¾- 9J¼ 92¾- 93½ 03 - 91~ 92¾- 93 92 _ 98 Reaistered ......... 4 . ... - _.. . ... 89 - 89 Deben. "F," 190S.... 4 .... - ....... - ... . 08¾- 08¾ .... 99¼- 99~ .••• Deben. "G," 1909... 4 1003-{i-100½ ... ... ..... _ ....... . Deben. "H," 1910... 4 .... - ........ ... . 96½- 96½ .• . • 07 - 97 Deben. ''K.'' 1913... 4 ... - ... .. ... ....... - ... . 9! - 9'1 Eo.&t.Okla.otv., lst.4 98¼-101½ 99 - 9'1½ .... •• ..•• . - .... 95¾- 95~ . .•• --- · . ... - . ... .•• . .. Atl. Coast L.-Ist, &' ... 4 101¾-102½ lOl½-102¾ 99~- 09!1,t 98:J.(-100¼ 98¾-101\1.4 9 3,6-100~ 99¾-100¼ 100½- 101:U.98 - OS~ 97½- 98n 07J..- 98 97 - 97!J( Registered......... 4 .. . . - .. .. . . . . . . . . 03 - 93¼ .••• Sav. Fl. & W., 1•t a.ti 132%-132% . ••• - ........ - •.•...•• - ........ Brun & W,, l8t '3S.4 ... - ... . .... - .... 99¼- 90½ 811. i-. Ocala & G .. .. . 4 ... - .... .. .. - ...... . Q9½- 99¼ 98 - 98 .... 95!>.(- 07l~ 06¾- 96!!( L.&N.coll.a-.,19:i'l.4 94)4- 95~ 9'1%- 95¾ 9i - 04¾ 03¾- 94¾ 92¼- 94¾ 90 - 91½ oo~- 92¼ 91¾ · 94 91¼- 92¼ 911}.(- 92~ 90 - 00¼ 80 - 90 B. & 0.-l'r. I.,g.'2~.3¼ 94¼- 95¼ 93¼- ll4!14 9'1 - 9'1~ 9i~- 95 1!4½- '16 96¾· IJ7¾ 93¼- 95¼ 93¼- 01¾ 02 - O! 93¼- 91;~ 93¾- 94!,,i 927,11- 94}i Registered ......... 3)9 . . . . - . . . . . . . - . . . . . . . . - . . .. .. - . . . . 93 - 96 04 - 95 . . . • - . . . . . .. Gold, 1948 .... ......... 4 103 -105½ 104¼-105 103~-lOi¾ 101½-103¼ 101 -103 103 -103¾ L02¼-1CS'ki 102¼-103½ 102¼-1C3)1, 100¾-lOl½ 100 -101% 100¾-102 Rellistered .. ........ . 4 lOl}ti-102 . -.. - ••.. 101¼-103}6 lOlJ,,j-101¼ 1003.-102¼ 10 ¾-103 102}1i-102¾ .... - • • . 99¾- 99!14 101 -101 101 -101 101 -101¼ Pitt& • .Jc.& M. Div.3¼ 91¾· 92 91¼- 91~ IJ2 - 92 92 - 92 0 ¼- 91¼ ..•. - ........ - . .. 90 - 00 00¼- 00~ 89¼- 8~ 81!¼- S!JJ,f P.L.E .& w.va.S,s ..4 97:},(- 99~ 98¼- 99¾ 98¾- 09 97¾- 98¾ 96¾- 98¼ 97 - O,J.t! 97¼- 98 97¾- 98½ gs - 98½ 98 - 110 94%- 95¾ 113¾- 95~ S. W. Div., 1st, a-.. 3¼ 1H - 92¼ 92 - Q2_¾ 91¼- 92 90 - 02 90~- 92¾ 02J.4- 93 00¼- 91¼ oo - 90% 89h- 90¾ 90¼- 91½ 90}~- 01~ 91~- 92 Registered ...... . .. a¾ .... 88¾- 59 Pitts.•'-" W., 1 "'•'1? _,a JOO -100 •••• 98 - 98 ... - ... 97 - 97 ... . 97 - 97 95 - 96 . .. - •••• 06 - 96 .... - ..... (\ - https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I·· . - .... .. - .. .... - .... RAILROAD BONDS. 83 1906 - Continued. BONDS. JANUARY FEBR'ltY. MARCH. APRIL. MAY. JUNE. JULY. AUGUST. SEPT'BER. OCT0liER . NOV 'BER. 1 DEC' BEB. Low.High l.ow.B.igh Low.Hi11:h Low.High Low.High Low.High Low.Hi,:rh Luw .Hi11:h Low.High Low.H~ Low.High 1~,0w.High Buff.Roch . & P.-Gen.~ .... - .... !16~-116½ 117¾ 117½ ll7 -117 119 -119).( l19½-119)lj ... . - .. . 117 -117 117¼-117¼ 118¼ -118¼1•••• Alleg & W •• 1st, gu .4 . . . . - . . . . . . . . . . . - .... 101½-lOlx, R. & P., 1st, 1921. .. 6 ... - .. . 124 -12:l - .....• . Consol., 1st ...... .... 6 . . . . - ... . 127 -128½ . . . • - .. . 125¾-125¼.... Buff .& Susq.-l ■ t, ref .4 99¾- 99½ ... 93½- 98½ 98½- 98½ .•• 95¼- 93¾ . .•• - . .. . 98 - 98 •... Can. South'n-lst, ,ru.:J 101 -101¾ 101¾ -101¾ 101¼:-101¾ l01¼-102l,4 101¾-102¾ 102½-103 100½-101 lOQ:ki-100¾ 100½-lOlJ.4 101¼-101~ 101¾-102½ 102 -102¾ ~d mortgage ........... :J 105%-108¾ lOi -108¼ 105½-105¾ 105¼-105½ I L5 -106 105¼-105:J4 105¼:·105¼ 105¾-106½ 103)4-104 l03¼-104½ 104)4-104!{, 103:k;-101¾ Reglstered ........... :J 105~-105~ ..• . .. - ... . 103 -JO:{ ... . - • .•• C. B. U. Pac.- ht, tr ••• 4 . . . . - . . . . . . . . - . . . . 95 - 95 . .. . - . . . . . . . - .. . . . . • • - . . . . . . . . - . . .. 90 - 90 92 - 92 9J¼- 9<>~ 95 - 95 .. .. - . ..• Uentral of Gn.-lst ... ~ 120 -121 - ... 120 -120 . . . - .... U9 -119 - .. .. ... ... - .... ll H¼- 118~ Consol., 194:J, gold .. :J 113¼-114½ 114 -114¼ 113½-lH¼ 112}1;-114½ 109¼-112 l11½-112 111¼-111¾ 111 -112 110¼-112 112 -114 Ll0½-111¾ 109 -110¾ Registered . . ......... ~ . ... - . . .. 113 - 113 98 - 93 89 - 90 89 -89 1st pref. Income ..... :J 98¾- 9tl 95 - 97 96¾ - 99 117 - 98.l,t 96¾- 97¼ 97 - 9) 97¾- 98½ 90 - 92 97 - 98 ~lamped . ............. . 95¾- 951-fi 96¾- 99 9'3J.9- 98½ 97½- 98 91 - 92 89½- 89½ .... 97 - 98½ 96!.9- 97¼ 89 90 89 - 92 76 - 77 2d -pret. Income ....... :J 80½- 86¼ 85 - 87½ 87¼- 92½ 87 - g3 87 - 90½ 89¼- 91 89 - 89¾ 79).(- 83½ 'i5 - ~9 89½- 91 90 - 9l 8 ~M- 89¾ 75 - 83 Stamped............... - ... . .... 83 - 91½ 87 - 92 88¼- 90 ½ 90 - 91 74 - 78 76½- 78 65 - 70 87 - 89¼ 87 - 87½ 72 - SJ½ 70 - 73 3d pref. Income....... ~ 76¼- 81½ 79!):!- 85 83 - 91 86 - 90.¾ 85 - 89½ 86 - 88½ 89 - 83 83 - 88 89 - 89 Stamped .... 75 - 75 81~- 88 f4 - 87 86 - YO~ 85¼- 89 85½- 85½ 67 - 88½ 78 - 81 70 - 70½ 67½- 70¼ 9;J - 98 Chatt. Div., 19:Jl-.. 4 94½- 94½ - ... . 106 -106 106¼-106¼ Cent. RH. & Bk. Gn. .. ~ .. .. Vent. ol New J crl!leYGen. mort., 198'1 .... :} 181½ -132 t31 -132 129~-181¼ t28 -129½ - ... t25¾-127½ 126 -126¾ 12i.l¼-126% 126M-128¾ L28¼-128½ 127¼-129 Re,rlstered . . ... ...... ~ 131 -131½ . ... - .... 130',<i-131 - .. 125½ -12H~ .... - .... 127 -127 125½-125½ . . . . - .... 12i.l -127 1251>&-126),( Am. Dock & Imp ...... O .... - .... 112).(i-112½ 112¾-112¾ ll3 - 113 112!1:(-112¾ ... ... - .... lll -112 lll¾-111¾ L. & W ., mort., '12.. 0 . . . . - .... 102½-102½ 102 -102 - . . . . .. . - .. . ... - . . . 100¾-1' O')a 100 -100 Con. ext., '10, go.4}1 101¾-102¼ 101 -101½ hlO½- lUl , 0)½-101 LOl -102~ 100 -101¼ 100½-102 - •.. 100 -100~ 100¼-100~ 100¾-101¼ 99➔.(-100,( Cheso.penli.re & Ohioe"rles A, tlOld, 190S.t LOO -106¼ 106¼-106¾ .... - . . LOS -108½ 10:l -104 - ... . 104¼-104.],/j 101¾-10274 1' 3 -103½ 103 -103 illort1m t>, 1911 ....... 4 109)8-101-l\\i. .. . - .. 110½ -110½ 107 -107 - . .. 107¼-107¼ . ... - .... LO[> -105 1st, con., ll•• 1939 .... :J 118½-119¼ 118½-119½ 118¼-118½ 118 -118½ 116~-116¾ 116½-118 117~-118 116),.(-117 116½-117½116 -11 ~~ 116 -116¾ 116 -116¾ Regh,tered .......... .O ...• - ••••.... - •••. .... - ... . 1141,.(-114¼ 116 -116 - ........ Genernl, 199~ ...... 4½ 107¼-108¾ 108½-109 106 -107 105 - 106½ 105 -106¼ 100 -107¾ 101 -107% 106¼-107¾ 103½-104¾ 104 -10.c¾ 105 -100 104 -106 Re 1,-trred . . .. ..... 4½ . ... - . . .. . .. - ........ - .... .05 -105 lOi -104 Crn.i,i Valley, 1st ..... a .. . - .... 112 -112 ll.&A.D.lstcon.'89 4 102 -102 100!'(-102½ t00¾-101~ 101¾·102 101 -10~ 101¾-101¾ 100¾ 101 - .... 100 -101½ . ... L0~½-103½ 101½-102¼ R &A.D.,2dcon.'89.4 96¼- 86¼ lio¾· 96¾ 96;1(- Q6¾ .. .. - .•.. . .•. - ....•••• 93 - 95 97,¼- 97½ Grt'eubrier, I st, gu.4 99:1:(- 99}4 (.;hlc.&Alt.-Kei.'49 .. ~ 82¼- 82J.<, 81¼- 82½ 81 - 82 60 - SO.xi 60 - 80½ 79 - 80½ 80½- 81 80 - 80½ 80½- 80½ 73½- 83 bO½- 80½ 79½- 79M Railway, 19~0 ... .... 3~ 78½- 81½ 80)4- 82 80 - 80¾ BO¼- 80½ 7:3 - 79~ 78¼- 80½ 76¾- 78 76¾- 77¼ 77 - 77~ 78¼- bu¾ 77 - 78½ 76¼- 78 Chic. Burl. & QuincyDenver Div., 192:l .. 4 102 -102 I00¼-100¾ 119¾-100½ lul -101 100½-101¾ 101 -101½ 102¾-102¾ . ... - ... 100¾-100~ 101)4-101¼ 101 -101 101 -101 Illinois Div.,1949.3½ 94¾- 95¼ 93~- 9[> 93¼- 94 9..!!J,(- 941( 92¼- 94 93 - 94~ 91¼- 91:!,t 91 - 911}.( 91 - 92 IJ2¼- 93h 113¼- 93¾ 93 - 91 Relllstered ......... 3½ .... - . .. . .. . - . .. . .. - ........ - ... . 90 - 90 .... - ... . . .. - . .. . .. - ... . Gold 1949 .......... 4 ... . - . . . 105¾-106¼ 104¾-104¾ ... - . .... ... - •.• 105½-105],p 101 -102¼ 101¼-102~ 102 -102 72 102¾-lOi 103¼ 10311,103¾-104~ lown. Dtv., 1919 .. ... 4 102 -102¼ 102¾-102¾ 102¾-102¾ 100 -100 100%-100~ lul~-101½ 100¾ ·100¼ 101 -101 .... - . •. . 91:l¾-100 100½ ·100¾ 100¾-101 Nebr'skn. Ext.,1921.4 106¼·106½ 106¼-107 107 -107 106¼-107 105 -105 103 -103¾ 10!¾-103 .... - .. .. 102½-lOi 102 -102 Reah,tered .... ...... . 4 . .. - . . . . . .. - . . . . . . . - . .. - .... 104¼-104),4 ... . - . . .. - ... . 101¼-101!,4 S,W.Div.,19'll ..... 4 ... - ... ... .. - ... . ... - .... ... - .... 98 -98 99 -100 Debenture, 1913 ..... ;} 106 -107 106¾-lOil¾ 106)4-107 .... - ..•. 105 -105 lU2¼ -l ll4 104¼-104¼ ..• - . -· 104 -104¼ L05¼-1<5).1; 103 -105 103¼:-108¼ Han. & St. J., cons .. ti ll2¾ lhl¾ 112¼-112¾ 109 -lOJ 108¼-108¼ ... 110 -110¾ .... - .... 103~-109!),j ..• .03 -103 l07¾-107¾ . . - .... Chic. & Ion.st. lllinolsRetund. & Impl ...... 4 9:1.¾- 96J.'1 95½- 96½ \15~- 96" ... - . ... . •. 95¾- 95~ . •. 92 - 9 1 l111t, slnklna- tund ..... ti . . - .. . 103¾·103¼ lO!l¼ -104J.1! .... - .... 10!~-101¾ 102¼-102¼ - ... . 102~-102¾ 103 -103 t03~-103¾ t;,0¼ 100¼ lstconsol., ,iold .... .. .ti 132 -139 135¼-135¼ 135¾-lll6¼ 132 -133 - .. . . . .• - .... 132 -132 - .. 129½ 1 :ii Gen. com\. lst, 193'1.~ 117¾- 119¼ 119¼-1191ki lJ.9 -119 119),.(-120 . .•• - ••.. 116¼-116¾ 116¼-117 .... - .... 117 -117 119 -119 ll7 -117 116¼-116~ Rerilstered . . . . . . . . . :i . . . . - . .. lld½ 118½ . . . - .•. Ch.& In.C'l Ry.,lst.:J 118 -118¾ 118%-118% l17¼-118¼ ... - .•. . ... - ......•. - •••. 114½-115 .... - ....... . - . . .. 123 -128 128½-128¼ Ch. Ind. & Lou.-Ret.ti 132½-133 133 -183 132¾-137 133 -134% 138½-133½ 133 -133 130 - 130¼ 129¼-129¼ . .. Refundinll, l 94,-..... :i 113¼-118½ .... - ... ... - . ... lH¼:-114¼ .... - .... ll4.½-114Xi .... - •... . .. - ...... . . Lou.N.A.&C.,lst.6107¾ -1071>{,108¼-108¼107¾108 ..•. - .... 107 -107 107½107¼ .. . - .... ... . - .... 105¼-105,½ .... .. . - .. . . .. . - . .. 106½-106½ 106 -106 LOSJ,g-108½ 107:J;(-108 1081,i-108½ L08½-l0 i½ - .... 104¼-10!½ 92 - 9¼ 91½- 91½ 91¼- 91½ ..• ..• - . . . 112¼-114½ - .... ..•. - •.. 111¼-lll½lll¾-112J.'1 l 2 -113 ..• - .... 1.lO -110 C. M. & St.P.-Term'l.1) 108¼-103½ ..• - ... . 108¼-108½ . .. . - ..• . . .. - . . .. Gen. M.,"A" 1989 ... 4 L09½-110½ 108½-110 107 -108½ 107½-108 1L5 11 -1(8 108~-111 Re,ilstered .. . . ... .... 4 •••• - • ••• - . . . . .. . Gen •.U. ••Ji" 1989.3½ 96¼- 97 t5½- 96¾ 93¼- 85 93½- 95 1}8 - 94 93¾- 95 Chlc.&Mo.R.Dlv •.. :J .. . - .. 118¼·118>4 .... - •... 116 -116 - .. . 115¾-116¾ Chic. & Pn.c. Dlv ...... ti 107½-107¾ 10:l -108 108¼-108¼ 108 -108½ . ... Chic. &Pn.c. W. Dlv.:i 113¼-114¼ 113~-115 113¼-114¼ 113~ 114¾ 114 -114½ 114 -114 Dakota & Gt, So. , ... ~ 109 -109 . ... - .. . 109 -109 .... - . . .. 107½-103 llO -110½ ht n. & D. Div ....... , lll¾-111\1:i lll¼-112~ lll¾-112 · •· · - ... . .... - ... . 118 -113 1st I. & D. Exten ..... 7 .... - ........ - ..... .. - .... 182:xi-lf 2½ . .. - . . . lst,Ln.C.&D.,'19.~ llS~-113½112%-112¾112 -112 . .. - . ... lll½-111½ ... 1st So. Minn. Div ..... 6 106)4-107¾ 107¾-107~ 107¾-108½ 108¼-lOS¼ 108½-10:l'~ 108½-1(!8~ 1st So. West. Dlv ..... tl 106¾-106➔.i 106}.1.- 106¾ . ..• - . .. . .. • - . . .. Wis.& Min. Div ...... :J 113¼-113½ 113%-113:ki 113¼-115),4 112¾-112~ DI. & N., 1st, 1910 ... 6 .... - ... - . ... 108n-108¾ ... lU.& No., 1st on ext.6 .... - ... 115 -115 Ohle. & Northwest •. . 7 126 -126 125 -125 124 -124 125 -125 .... - •... 122¼-1~2% Extension l~Sti-26.4 105½-105½ ... . - ... L02,½-102¼ 103 -104¼ ... ... - ... Reglatered ......... .4 .... - .... l Ul¼-102 - ... . ... . - .... General, 198'1 .. ... 3½ 100 -100½ 99 - 99 OJ - g9 oa - 9;) 97 - 93¼ 9814- 98¼ Re,ibtered ......... 3¼ . ... Sinking fqnd, coup •• 6 .... - .... 113 -118 Slnklnii tund, rl'g ..... t, . ... - ••• . 114½ -114½ .. •• tllnklnir tund, coup .. :J .... - ... . 108!,g-108¾ 109 -109 l0U -109!):( Slnklna- fund, r•ll••··6 .... - .... 107½ ·107½ :,~ yrs, deben., 1909.:i .... - ... . 104),.(-104¼ 104¼-104½ . ... - •.. . Reahtered ........ ... 1) •••• 3U-ycn.rdeb., 1921..:i .... - ... . 112~-112¼ . ..• - •... Debenture, 1933 ..... ~ 117 -117 .. .. - .... 116)4-llfl¾ - ... Rea-!stered .. ... . .... :.l ..•. - •.•. 117 -117 .. .. Ott.C.F.&St.P.,lst.:i .... Win. & !St. Pet., ~d .. 1 . . . - .... L02½-102½ M.L. S.&Wlst.,'21.6 126¼-126½ .... - ... . 126¼-126¼ 125 -120½ 122½-122½ 12i -124 Ext. &Imp,, 19:l9 .:i .... - ... 118 -118 .. .. - ... 117¼ -11~% 117¾.:117¾ 117%-117% Mich. Div., 1st ..... ti . ... - ... 128½-123¼ .. .. Conv. deb., 190, ... ~ .... .... .... - ....... - ... .. ... C.R,1,&P.Ry.-'11 ,ti119 -119¼120 -120¾ . ..• - .... . .. - ... . ... - •.•. Regi■ tered .... . ........ 6 ... . - ... . ... - ... . 119 -119½ . ... - ... . .. .. - . . .. . .. - . ... General, 198~, ,i•.... 4 10'.!½-103¼ 102%-103 101½-1C2¾ 101% -103 tOl¼ -103¼ 102 -103!,4 Rcaistered ..... .... 4 .... - . ... 102 -102 ..•. 99¾- 99½ 100½-102 ht & refund., 1934.4 1!5 - 97 95¾ 96¾ 95 - 96¾ 9.l¾- Oi:14 OJ . - 9i½ 94 - 94¾ Coll.tr., ser.G,1909.4 -. . . . . . - . . . . 97¼- 97½ Seriel!I J, UH!l ...... 4 .... _..:l!l;..e::cr:..;l;..c:ec::sc..c0::......,,...;1;..:9:c..1.::.7.c.-·•c..;.•.;_••~4;...._·_· - - -- - ' - - ' - - - - - - - - - - - - 8~_½-=--_ 89 ....:½ -=-·---_·_-_ _ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis . .. - ...... . LOi¼-108 107 -108 . ... - . . . 93%- 84¼ 92¾- 94),.( ... - .. . . ... . . . - ... . .... ll 2¼-112½ 110 -113 Lil -111 105 -105 .. .. - .... 105¼ 105¼ - ••• . 107 -107 lO!l~-104}9 - .... 104½-lOi¾ - ... . 103¾-103¾ - ..•. 112 -112 - . ... 106 -106 - •.. . 105 -105 •... .. :-12 ~¾-122¾ ... - .•.. 119½-120¼ 1227/4-125 1'21 121 .... - ..•• 102¼-102¼ . ... - . ... 101¾-JOl!l:f.102 -102 101 -101 - ... . . ... 98)4- oa;a 96 - 98¾ 95 - 96½ 96 - 97 96½- Oi½ 96½- 97 93 - 96tj - .... 111 -111 109 -109¾ ...• - •.. . LU8½-109 - .. .... 102¾-102¾ . . :. - ..• 103 -103 lOJ½-104 - ••• . 101 -101 105½-105~ ... - ........ - ... .. .. - ... 113 -113 113 -113 113½-113½ 113½-113½ 103¾ 106 "' 101 -102 LOl¼ ·lOl¼ 107¼-1 07~ .. . 113½-115 .... - - .. 101¼-101¼ .••• - .•. ..• • - ... . ... . - . . . . .. - . .. . . ..• - ... . 101¾;-101~ 101¼-1!12~ 128½ 123¾ 123¼:-123¼ 123¼ -123¼ ... - ... . - . ... 122>11 ·122¼ . ..• - .... .. - ..•. 114-~ ·114~115¼-116½ 117½-118 117¼--117½ 93¾-100¾ 99 -h.O¼ ~J¼- 114 --'-- 101 -101 .••• - ••.• 117¾-117¾119½-119½ - .. . 118¾-119)4 .... - .... . ... - •....•. - .. . . llS¾-118¾ ... - ..•• 100¼:-100¾ 100¾-101 100¾-102¾ 101!}.t-102¾ 101¾-102~ ... - . ... 100¾-100).t ...• - . . .. . .. - . . .. .. • - ... . 92¾- 94 93¾- 94½ 92¼- 9!l¾ 92¾- 93~ 91¼- 92¼ '--'--- -- -- - - - - -- - -- - - - - - ' - 84 RAILROAD BONDS. 1006-Contlnued. JANUARY FWBR'RY. MARCIi. APRIL. MAY. JULY. AUGUST. SWPT'BJ:R. OCTOBJ:R. ~OT'BJ:R.I DBC'BIB. Low.High Low.Hurh Low.High Low.High Low-High Low.High r~ow.IDgh Low.Hll{h Low.Hll{b Low.High Low.High Low.High - - - ---- ---- ---- ---- - - - - ---- ---- C.R. I. & P.Ry .-(Oon.)Ro.llroo.d, !1002.••••• , 79 - 80~ 79 - 81½ 7~- 79h 78¾76 - 79 76 - 7~ 75J.I(- 7'n9 77 - 78¾ 76~- '7&¾ 78* 81¾ 76* 78 76* 78 Coll. tr., ir•• 1913•.. ~ 88J.lt;- 91" 91J.lf:- 98 ~ - 91 89 - 01½ 89 - 91 00¾- 91~ 90 - 91~ 91'¼- 93 89~- 90½ 00 - 93~ 9~- 921i 89!1(- 92¾ Bari. C.R. & No.lat.~ 100}4-101 101 -101~ lOlJ.1(-101¼ 101%-101'4 102 -102¼ .••• - •••. .. .• - ........ Con ■ • t ■t & col. tr .. ~ ... - .... 119~-119¼ . .•• - ... ... .. - •••• 118 - 118 117'4-117~ ..• - .... 118~-118¾ . ... - .... ll~-116¾ ••• Ch . Ok. & G., 1919 .. ~ 106%-106~ .• •• - .... . ... - ........ - .... 105 -105 . ... - .... 10;;~ 105¼ .. .• - .... . ... - .... 109 -109 .. .. lat cons., 1932..... 3 .... - . .. - ....... - .... 111 -111 - ....... - .... .... - .... . ... - •.•..•• Keok. & De ■ M., 1st.:) 109 -109¾ ..•• - .•. 110½-111" 108 -108 .•.• - •. •. . .. - .... .... - .••. 109 -109 . .. - .... 105"•105¾ ... Ohle. St.P. Min. & Om.6 135¾-135½ 135 -136 134~-134~ 133 -135 L32 -135 .... - . .•. 131 -132}{i ••• - •••. L81¾-131~ 131½-133~ 132½-133~ 129¾-130 Cblc.St.P.&M.,lat .. 6 . ... - ... . 135~-185!,4 - •... 138 -133 131!1:(-131~ 133 -133 - ••••...• - ........ - .... 133 -133¾ .. .. - .. . .. ... St. P. & s. Clty-bt .. 6 .... 12!¾-124~ .•• - .... 120¼-120~ ..•. - .... 120¾-120~ .... - •• . . 120¾-120¾ 120~-120¼ 119¾·119~H19~-119~ .... - .. .. Obie. Term'l Transf .. 4 .... .. - .... 100),6-100!,6 101~-101¾ ... - ........ - ••••...• - ••.....• - .••..... - ... . 09¾!- 99¼ ... - .. .. Coupon off........ .. 4 98 - 90¼ 100 -10()¼ 99 -lOJ 99¼ -100 99¼-100 99~-100 98~- 98¼ 99~- 99¼ 09~- 99~ 96 - 99}4 97 - 97~ ..• - .. .. Chic. & W. Ind.-Gen.6 ... - ... 11~-114¾ 113¾-113¾ . •• - ... . l13 -118½ ..•• - ••.. . .. - .... 110 -112~ 112½-112½ 112½-112~ 111¾-118 Consol., 193~ ......... 4 .... - ....... - •... 9S¼- 08¼ ••• • - ........ - •••. 97:¼- 97'¼, ...• - •... 9~- 98M Clo. Day. & lr.-l ■ t... 3 112 -112 112 -112 112 -112 - ... 107¼-107~ 107 -107 ... - ....... - ....... - .... .. . - .... Ctn. Ind. & W. '33 .... 4 .. . . ... - ... 01 - 91 .. - .... . .. . Clev. Cln. Ch. & St.L.4 102M-105½ 105~-10~ 108~-105 1033,(-1041,4 l~-104 102 -102¾ 102 -102~ 101 -102:k; LO ¾-101~ lOl¼-102!>4 102½-103 10()¼-101¾ Cairo Div., J st. ... .. . 4 .... - ... 100¼-1001,d ._ ... - ... . .. - ........ - .... . ... - •... 100 -100¾ 100 -100 101¾-100¾ 100 -10.> . ..• - ... . 99¾-101~ Ctn. Wab. & lU., lst.4 100¼-100~ 101¾-101~ lOlU--101¾ 100½-100'-t 100:)ji-100~ 100 -100 ..•• - . ... 1?8 - 98 .. - •.•..••• - .... 9-11¼- 9<ic;.( St.L.Dtv., tst.1990.4 102½-103 101 -101¾ 100~ -101¼ 101 -101¾ 100 -100¼ 100~-100¼ 99¾-100¼ .•• 0 3¼-lCO - .... 1003' ·100)4 Rer ist~r ed . ........ 4 .... •·• - •··· .... - ... . .. - ....... OJ - 96 '\Vblte Wnter Vall .. 4 .... - ... . . ... .... - .... 96 - 96 98 - 98 09¾-100 U. I. St. L. & C.,'36.4 108 -108½ 103 -108 102½-102½ 102!'-(-102¾ 101¾· 101¾ 101 -101 100}8-100¼ 99Xi lOJ'kl 09¾-100¼ - •••. 100 -100 ) R c,:htered .... ..... . 4 .... - .... 103 -108 - • . . . .. . - . . . 101 -101 Ctn. Snn. & Cl. cona.:) 115 -115 - ••. . 112¾-112¾ . ..• - .•.. l lS~-113¼ ... - .•...••• - ••• . . .• , - •.....•• - ..• . 119 -119 c. U. c. & J., coneol.., 122 -122 .•• - .. 118½ -118:½ ..•• - .... 134¼ ·134¼ Gen. coneol., 1934.o 184¾ 135 134 -134 Peo. & E., 1st, cons .. 4 100 -101 100 -101 100 -101 · 06½- 98½ 97 - 97 {17'¼- 98½ 98 - 98½ 97 - 97.½ 09½- 99:¾ 9i~- 99 06½· 96¼ 0!5 - 9'J 72 - 74c 70 - 72¼ 72½- 78½ 73¼ - 73½ 72 - 74 i2 - 73},i 71¾- 78 J ncomee, 1990 . .. . . 4 78 - 80 79 - 80 78 - 79¾ 72 - 74.½ 69 - 78 ... - ••. 1121,( -112% CI.Lor.&Wbeel.,'3;J .. :) .... - ........ 115¼-115½ 71 - 74¼ 73¼- 75¼ 72¼- 74~ 73½- 76¾ 74½- rnY.I 75¾- 76~ Col. 1Uid. ht, 1947.... 4 74¾- 79¼ 76)4'- 78 76 - 77¼ 75½- 7,¼ 74¾- 76¾ 76 - 7i Ool. & So.-1 st, g.'29.4 03¼- 06½ 1l4 - 94¾ 93~- 94¼ 93¾- 94¾ 93 - 9t¾ 98 - 91½ 93½- 94 91¼- 02)8 91 - 9 !¾ 01 - 93 91¾- 91 91¾- 92¾ •... 101 1107-1 107¼-110 108 -110 i07 -110>:, ,07½-lh) 107¼ 1!2h- 106 -112¼ Delaw .& H.,con .,'16.4 ... - ... . .... 1st Pn. Div., 1917' ... , .... - ... . 183 -138 Alb.& Susq.,conv., 3¼ .... - .. . .... - ........ - .... 107¾-109 105 -111½ 111 -117 109 -118 111 -113 110 -115¼ 110¼ 118¼ 110 -llq;lf, 112 -118 l st, 1r1mr., 1 P06 ... fi 102¼-102\l~ ...• - • . . . .. Rensscl. & So.ra, t ► t 1 ... . - . . . . ... - ........ - .... l33½-1SS¼ Del. Lo.cl,. & W.-'01.7 107 -107:¼ ...• - .... 104¾-104% 104¼-10!¾ ... Morris & Essex, 1st.": 128~· 125J.fl ..• 124 -124 12:i½-126¼ .. .. - ••.. 120 -120 . ..• - ........ - ... . 119*12.l½ . • • • Consol., lluo.r......... , 126¾-1 27 - •.•. 121 -121 .••• - . ••. 122 -122 N. Y. I.. & W., lst .... ti 126}.i-126¼ 126¼· 126~ 126¼-ll:6}~ .... - •.•. 121!!(-121¾ ... Tnm'I & hnpt .. .. 4 .. . - . ....... - .... 102 -102}4 102%-102¾ 102¾-102}& .... N.Y.L.&W.,con.'23.li LIS½-114¾ ..•• - . •. . 112 -112 .... - ....... . - .... 103½-108½ . . .. - ........ Syr. l.Un1:h. & N. Y .. 7 104¾-104¼ 101½-101½ ... ••• - •••. 102¾-102~ . ... - •.. . . .• Denver & Rio GrandeConsol., 1936 .. ...... 4 100 -100~ 99 -100¾ 99¾-100 100 -101 lOO -100¼ 100*101¼ 99½-100¼ 99½-100 99½-100½ 09 -100½ 98¾- 99}1 98 - 99M 1st, con ■ol., 1fl36 .. 4 '-I .... - .... l06~-106X! 108 -108 .. .. - •••. 106¼-106¼ .. - .... :06 -106>6 . ... - ... . .• • - ..•• Improvement, t9'l8.~ 108 -108 108¼-109 107 -107 108 -108 107 -107~ ... - ••• 107 -107 ..•• - ••.. 105 -106 106¾-106¾ 106½- 10691- L07 -107 Rlo Gr. We11t,, l ■ t .. . 4 07½-100 98 - 99J.1 U7¼- 98 06¼- 97¾ 961J4- 98 97* 98½ 94~- 96½ 95 - 95½ 94¾- 95~ 05 - 96¼ 9~- 96 95~-96 Mort. & coll. tr.,A.4 00 - 92 90¼- 90~ 90 - 90H. 88 - 80½ 80¾- 87 88¼- 89 88¾- 88¾ . ..• 89 - 69 86½- 86~ 66},g- 88 80¼- 88 Det.&Mn.ck.-lst llen.4 .... 09¼- 09¾ . ... - .... . · .... - ........ - .... 92 - 923-A ..• Gold .................... 4 95 - 96 06~- 96!J4 ... - ••...•• - • ••. 90 - 90 Ol½ - 02 93 - 98 Detroit SouthernOhio !-o. Div., 1st .. .4 98 - 03¾ 92¼- 03 89 - 88 89¼- 89½ . ... - •••. 87¼- 89½ ..•. - • .. 1'6 - 86 .... Duluth& J. R.-lst ... ~ 118)4-118~ ll3¼-ll4 - •.. . 112 -113¾ 112 -118 . .•• - •••. 113 -113 . •.• - •••. U4¼-114¼112½-112½109~-111¼ 110½-110~ Re1rlstered .. ..... ... . 3 ... - . . . 112¼-112½ ...• ••••...• - ........ - ........ - •... . ... Dul.S.S.&Atl.-193'7.a .... - ... 113 -1,8 ll8 -118 113½-118½ .••• - •.•. .. - •••. .. .. - .•• . 112½-112.l,ti 111 -111¼ . .. - .... 112~-112¼ L13.¼ 113½ Elir. Joi. & E.-lst, g .• ~ 118½-119¼ 119)8-119¾ ll6~-116~ 116¾-116¾ . .•• - ••• . 116¾-116¾ 116)4-116)4 117 -117 - .... 117 -117 114½ -114,½ ..• - .. .. Erle-l ■ tellt,, 194'7 ... 4 1()7¾-107½ ... - .... •·· .. • ....... - .. .. . ... 2de1t., 1919 .... ...... ~ ... - ... 114 -ll<ic½ ..•. - ... . . . . - ........ - ••• ... - ......• - .... . ... - .... l09½-109¼ 3d, ext., 1923 ....... 4¼ . - .. .. . ... - .... 103¼-108¼ ..•• - •... 107!4-107¼ .. .. - .••. . .. - .... 108½-1097-1. ... - . .. . •• - ••. ..• • - .. .. 4th,ext.,1920 ....... :) 115}4-116¼ .•.. - . . ... - ....... .••...•. - ....... - . ... 110¼· 110½ ... - •...... - ...• 1st, consol., l(old . . . 1 183 -133 134'k!-184~ 1no -131 130 -130½ l28¾-131 131 -131 131½-13 !¾ 130¼-130¾ 127 -128 128:):(-129:)s 128:J.1:-129 128¼-128~ 1st, cons., a-., fund .... , .. .. - . . . 133 -183 ... - . . . . .. . - •.• ..... . . . - .. . ... - .•.. 128¼-123½ 1st con. prior Hen, fl.4 90),(-102 lCO!,t-101¾ l00¼-101¾ 100),4-101½ 100 -102 101~-102 09¼-101 rn,s-lOZ 09¼-100¾ 00½-100¾ 99¾-100~ 99 -101 Rea-htered .......... 4 - . . . .... - ... . ,00.¼ ·100¼ .... - •.•. . ..• - .. - ........ 99¼- 99½ .... - •... ht con. llen. 1., '96 .. 4 91¼- ll8½ l:12¼- 98 91 - 93 91 - 03 90 - 93 92),(- 93¼ 80¼- 90~ SO½- 01 89½- 90¾ 89¼- 91½ 89¾- 90¾ 89 - 90¾ Re1riatfred ........... 4 .... - ........ - . .. . - .... . . . - ... . .... ... - .... 90 - 91 Penn. coll. tr., 1931.4 95¼- 98 94¼- 95¾ 91 - 93 91½- 92¾ 92¼- 94 9l - 94~ 94¼- 05¼ o;¾- oi !JO - 91 ½ OG½ · 92½ 00¼- 02 90 - 01¾ 30-yr. conv,, 19li3 . . 4 107¾-100~ 104½ -108 104½-lOO!J:( lOl -106'.lc lfOJ:(-108 102% ·107,J 102 -104¼ 104 -107¾ lOJ½-109 103 -108¼ 10 . ¼ ·l C-4 LOO½ 104 Buff. & S. W., a-.,'08.ti .... - .... 101¾-104¾ . ..• ~ . .. . .. .. - ... . Chic. & Erle, 1st, &- •• ii 121 -122 121½·122~ 119 -121:-1, 119¼-122 ll8 -120½ 119!1:(-120¼ 119¾-120 119~-lU,~ 118¼-120 117 -120 116'.M'- l17 ll6½-ll7¼ Jefferson UR., 1st. ~ . ... - . . . . ... - ... . ... . - .... . ... - .... 100 -100 101¾-lOJ,._ Lona Dock,cons.'3:i.ti .... - .. .. 1135¼-135½ .. - •.. .. ..• - ...... - ... 133¼-135½ 134 -13-1 138½-133.½ ... - •.•. 129 -129 Dock & lmpt. Co ..... ti .... - ... . .... - .... 109¾-109¼ . . . • - •.. . • •·· - ... . ... lUldl'd otN. J.,lst ... til08¼-109¼ .... - ....... - .... 107 -107 107 -lOi .. . . - ... . 1 47a-104¼ . . • N. Y . Sus. & W., ret.~ 116¾-116% 110 -ll6 115¼-ll~( 116 -116½ ll5 -117½ 116~-116½ U7 -117 116 -116 1IG¾-115;4 116¼-116¾ . - ... . ll5!;(-ll51,.( 2d, 1931 ... ....... 4¾ . ... 103 -103 - ... .... . - . .. 100 -100 100 -100 100)4 -100}4; Gen., a-old, 1940 ... . ~ 110 -110 109 -109 c07¾-107½ 1( 6 -107½ ... - .... 10!½-104½ - ..• . 102 -102 105 -106¾ L06½-l06.>11 . .•• Term'l, 1st, 1949 . . ~ .... - ....... - . ... l15¼-118 Wilk.& E., 1 st,'42.~ .... lll¾-112 113 -113 ll3 -113 UO -110 - .... 101 -111 toa -109 no -110 Evan.&lnd.-lstcon.6118 -118 - .. . 116 -116 - •... 118 -118 L, 8 -118 Evans.&T.11.-Cons .. ti .... • .. 117 -117 l ■ t llen .• 1942 ....... . ~ .... - ... . 109½-109:½! ...• 108 -108 LOS -108 106½-100~ lOd¼-106¼ 107¾ ·109.½ . ..• Sull. Co. Br'cb , l ■t . . ~ 106%-106¾ 106¼ 106¼ .. . Ft. W. & D. C,-lst .... 6 112¼-114¾ US -115 l 12;►.(- 114 112½·114¼ lll!}.1-115 llll}.( -112 Lil -113 113 -113 Ill -111 112 -114 113 -lUJ.. 110 -1103' Ft. \V. & R. Gr.- tst ..4 89 - E9 90 - 01 8J - {IO}t 87M- 8;:14 Si - 87 - ... H - 84¼ t-6 - 86 88½- 8 h 80½ · 90 Gnlv.H.&H.ot'N!l.. :) .... - .. .. - .... 103 -103 10u;J4-100;i4 09.½ - 91.l½ 91:l½-1• 1 1•·3 -108 G.No.-C,B.&Q.cl.tr.4 99¼-lOl'U f0¼-101¾ 0 }¼-100>1, 98¼-100~ 05¼-100 09¼-lOQ¼ 97 - !i8¼ ll7¾- 99 9i¾- {18;}.j 98>4-lGO 09 -100¼ OB -100),,( Rea-lstered ..... ...... . 4 99¼-101½ LCO -100 98:J.{- 99 Vi¼- 99h 97:I(- \19 97:1(- 9 '¼ 9i~4- 99 97 - 9 ~ ft7¼- 1>8¼ 07)4- 08).. 9::l - 98;¾ 06),(- 99 GuU&Sh.I.lstrd .. ~ 102 -103 :02)4-lOi . .•• - ... 104 - 104 104 -104 103¼-10;;¾ 101.½-101½ ~02 -102 l02 -1U5 IOi¼-103 10.J, -10~ 102½-103~ Hock.Val.-lst,cons.4½ 107~-109½ 108 -109 LOS -10 ' ~4 107¾-110 lOli¾-108 :•>7¾-108½ 104¼-106 105¼- lOJ¼ 100 -106).4 106 -lOi¼ 106¼-107 106~-107),ji Registered .... ...... .4¼ ... . - . . . . ... - . . . . ... - • . . . . . - ••. . 103 -103 C. & H. V ., 1st, ext.. 4 100% JOO¾ 101¾-101¼ 100 -100 9t!¼- 93!¾ .. - •. . .00)4-100¼ 100 -100 Col. & Toi. 1st, ext.4 100 -100 LOO -100 - . .. lOl¼-101}4 ..• - ... 100 -1CO llllnols Centralht gold, 1931 ......... 4 ... L· o¼-109½ Rel(l11terc d ......... 4 - •... W4!4-104!,4 ... 1st, gold, 19~1 ... ... 3 !,, - •. .. 100 -100 9 u¾-100 - .. .... .. Reaist-,rcd ......... 3½ . . . . - . . . . 95¼- 95¾ . ... - • . . . .. • Extended l st 1931.3¼ 100½-lOt ¼ ..•. .. - . 101~-101¼ 99½- 90~ .... - . ... .••• - .... . - . . ··1·... Gold! l 9~2... ....... ... 4 .... - . . .. lOi!,.(-107¼ 106~ -107 104¼-105'-l . .. • - •.• . 105 -106 106 -106 104½-104¼- 1~-1~'4101 -101 l02¾ ·10!!,dj103 -104 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis s°" I RAILROAD BONDS. 85 1906-Contln oed. U.NUART FmtB'BT. MA.BOK, APRIL. MAY. J~. --- ------------------------JULY, AUOU8T. 8BPT'BBB OOTOBBB. NOV'BBR. DJIC'B:aa, _ _ _ _ _ _ _ _ _ Low.HI.ah Low.HI.ab Low.HI.ah Low.Hla'h Low.High Low.High Low. High Low.Hl,tb J..ow.Hlgh Low.Hta-b ~w.Hlgh Low.~ llllnol ■ Central-(Oon.) G o ld, 19~3 ............ .4 105%-,105¾ l~-106¼ 105 -105 105 -105M 103 -104~ 104~·105 104¼-105 lOi -10!¼ 102¼-104~ .• •• - .... 101~-104 101 -10~ Re1rl ■tered .......... 4 •••• .... - •••. 100 -100 .... Cairo Brldire, 1 9 ~0.4 .... - ........ - .. .. ... - .. . .. .. - . .. .. . - .... .... - .... 105 -105 ... . - ........ - . . . ... - ...... .. Louin. Dl..,.., iro ld.3~ .... .... - ... 91¼- 94M 91½- 9234 •••• - ........ - •••• 91¼- 9~ .... - .... ~ - 929' 92¼- 9234 93~- 98¼ •••• Omaha Dlv., let, 1r .. 3 .... - ... .. .. - ........ - .... 78¾- 7~ ••• • - .... .... - •••••••• St. L. Dlv~ 19:Sl ..... 3 .... - ... 82¾- 82~ .... - ........ - .... 82¾- 82¼ .• •• - ... . .... - • . •••••• - ........ - .... 80 - 80 Gold, 19:5t ......... 3U ... .... - ........ - .... 9S}s- ~ •••• - ........ - ........ - ... . ... We ■ tern line ■, lat ... 4 10711-107,- .••• - ........ - .••..••• - •••. 102 -102 .•.• C,St,L,& N . 0,, 19~ 1.3 . . . . - .. .. . .. . - .... 1283'-128½ . • • • - •••. 121 -121 12~-128 120~-121 - •. •. 120!,s-120¾ . ... - •••. 121~-121~ Memphie Div., let.4 .... - ........ - ........ - .... lOl}s-101¼ .••• - .... . ... Ind.Dec & We8t.- l 11t.~ .l08'U-108Yii .... - ........ - ..•. . •• - • • . ••• - .... .... - .... 106%-107 .... - •••••••• - .. .. Ind, Ill. & 1,-ht,'~0.4 99 -100 99¼;-100 100 -100 100 -100 100 -100 .... - .•. 100 -100 .... - .... 9~- 9~ 99 - 99 .... - ........ - .,., lnt,&Gt,No.-1at,'19.6119¾-120 119½-119½ 118~-120 - •••. 116 -117 117 -117 116¼-116¼116 -116 116 -116%116 -116\14 •••• - •••. 115 -115 2d, 1909 ................ ~ 100 -102 101\ij-102¼ 98 - 99 98 - 99 98!14- 99!)( 98~-1~ 102 -102 102 -102 . ... - ... . 99)4- 99\14 98½- 99\14 9~-100 3d, 1921 .......... ... .. 4 .... - .... 80 - 80 75~- 75)4 ... . - ••• 7~- 7~ 77 - 79~ 73 - 78~ 73!14- 77½ 77 - 77 (own. Cent.-111t, 1rold .. ~ .... - . .. 114 -115 114 -lH 112 -112 112~·115 111J4-111¾ .••• - .... 109 -109 .... - ........ • .••..... - .... 111 -111 Refbndln1r, 19~1 ..... 4 86 - 88 .. - •.•. 86 - 86 - ..•.•••. - ........ - ... . .... - •••.•••• - •••• 85¾- 85¾ ..• - •• . 83!14- ~ ... . - ••• , K.Clty So,-ht, 19~0.3 73 - 75¼ 74 - 75 74 - 75¼ 71 - 78½ 70¾- 72¾ 72 - 73 72¼- 78 72~- 78 71'¼- 72¼ 703'- 71¼ 70 - 71~ 70¼- 71'4 L. Erle & We11t-1llt ... ~ 117½-118½ 118~-119 117%-117¾ 115%-115¾ •••• - .... 118 -118 115~-115¼ 115 -115 lH¼-11:l¼ lU -115 115 -116 116 -1163' 2d ............. .. ... ...... ~ ll~-118Xi 118¼-118½ 113¼ ·113¼ .•• • - ....... - •• . 112¾-112!1:( 110~-110~ •••• - .••. 111 -111 .Northern Ohio, let .. ~ 117 -117 •••• - .• •..•. . - ........ - ........ - •••. . ••• - ... . .... Leh. Vall. CPa,)Geo. cons,, !l00!I .... 4 .... - ........ - ........ - .... 98~- PS¼ .••. - •••• 98)4- 98¼ .... - .•.• 95 - 95 .... ... , Leh, V ,N. Y ,-1st, 1ru.4½ lOIJ3' 110 110)4-110~ 110 -1103' 109\14-110~ 110 -110~ 111 -111¾ 109 -109% 109 -1~ .... - .... l093'-109½ 10~109Ji Leh. V. Ter.-lst, 1ru .. ~ 120 -120 ..•• - •.. . 12(}¾-120¾ 118:J(-118¾ .••• ~ •••. . ••. - .... 116 -116 .... - •.... ••• - .... Leh. Val.Coal-1at,iru.ti 112 -115½ 113M-114 . ... - .... 112%--112¾ .... - .••..••. Leh. & N. Y.-l ■ t, iru.4 .. .. - ... .. ... - ....... - . . . . 96¼- 96~ .••• - .... 95¼- 9~ 96M- 96M EI.C. & N,, 1st, pfd .. 6 118'7-'-113¾ . .• - •••.•••• - ... .... Guar. Ir ............... ~ 105¼-10.'>¼ .... - .. . . . .. - ........ Lona hl'd-lst, 1931.li .... - . ... . - ... 117 -117 114¼ 114.½ 115 -115 115 -116 .... - •••. 113¾-113\14114~-114¼ Gen. mort., 1938.. .. 4 101~-102~ lOJ.¼;-102 102 -102 .... - .. . . 101¼-101¼ 98½- 99 . ... - .. .• 961,r 95½ 98¼- 98¼ 99 -100½ 911¼;- 99¾ 96¾- 96¾ Unified, 1949......... 4 101¼-lOl!M lOQ¾-100¾ 98 -100 18 - 98 97 - 98 96 - 97¼ 96%- 97 ..•. 96%- 96¼ 06 - 96 96¼- 961' Gu. ref., Ir•, 1949 .... 4 101%-102½ 102 -102½ 99¾-100~ 99!)(-10094 99 -101¼ 99¼-100¾ 99¼-100 100 -101~ 99 -1~ 993-(i-101¾ 903'· 99¾ 98~- ~ Re1ristered ........... 4 .... - • . . . .. . . - . . . . 99 - 99 - ••. . . . . B'klyn & Mon., 1st .. ~ .... - .. .. . .. - ... . 103%--103% .... - .... .... - ••• 1013'-1013' N. Y. & .R. B,, lst .. 6 lll -111 N, Y,B.&M.B,,cons,,~ ... - ... . ... - .... 11034-110¼ .No.Sho.Br'h,lstcon.6 .... - ... . . .. - ... 109 -109 Louill'a & Ark.-lst .. 6 105 -105 - .. .. l05 -105 Louis. & Nash.-Gen .. ti 11~-120¼ 119)4-120 118¼-ll~ 119 -119 .•.• - .... 115¼-116½ . •. • - .... 114¼;-115¾ 116 -118 L17¼-119 Gold, 1937 ............. 1) 120 -120 121¼-121½ .. . - ........ .... . ... - ... . .•. .. . - .... .. , - .. llt¼-116¼ .. .. UnUled, 1rold, 1940 .. 4 108¾ 104¼ 108½-104 102%-104~ 102¾-103½ 102¼-103% 102¾-104 IOOJ..-101¼ 100¼;-102 98).(-101¾ 101¼-102½ LOl¼-102 101¼-102~ Reirtatered .......... .4 .... - . .. . ... - ... . .. .. - ... . 100 -100 LOL -101 .... - ... lOL¼-101:111 . ... - .. .. Col. trust, 1r.. 1931 ... ~ 115½-116½ .... - •.•. 115 -115 .... - . ... 113 -113¼ 111~-llllc . ... - ........ - . ••• - ... .. ... Coll,tr.,~•!lOs,1923.4 98½-100~ 99¼-100 99¼-100 97¾- 98 97 - 97!}.t 97½- 98 97¼- 98 97¾- 98~ 97¼- 97½ 05¼· 96¾ 96¾- 97½ 07 - 98 N. O. & Mob., lst .... 6 128 -129 128~-128~ 129 -129 129¼-129¼ ••• - .... Ul9"-180 .... - ........ - ... . 127 - 127 2d, 1930 .. . ........... ff ..•• - .... 122¼-122¼ .•. - ........ Penao.colo. Dlv ........ 6 .... - .... 107¼-107¼ .••• St.Loui8Dlv,,111t ... 6 .... - .... 120½-120½ .•• • - •••. 117¾-117½ ... - •.. ll8 -118 2d 1rold, UJ80; ....... 3 .... - .... 71¾- 71½ Atl.Knox.&No.,lat.~ .... - ... . 116 -116 116 -116 .... Henderson Bd1re,lat6 108¾--108½ .••. Pen ■o.c. & A.ti., lat .. ~ .... - ... . . ... - .... 112½-112½ . ... - • • • • tll¼;-1113' Ken. Cent., 1987 .....4 99 - w~ 100 -101 100¼-101 100¼-100)4 100 -100¾ 100 -100¾ 100 -100 98 - 98 ..•• 99¼- 99¾ .•. L&N&M&M,let.4~ ... - ... 110 -110 108¼;-108¼ . .. - ..•. lOSM-10~ 109 -108 L,& N.-~outh.jolnt.4 95¼- 96 95¼- 96¼ 95)4- U6 96 - 96 96 - 96 96 - 97 95 - 9::l 97 - 97¾ 97 - 97½ 96 - 97 93~- G7 04 - 94 .N,l!.&~.,i ■ t,gu.'37.~ 116~-117!>8 ...• - .... 114¾-114!J,.( . ... - ..•. 114 -lU .... - ....... - •.• .. 111 -111 _ .. .. - •.•. L14 -114 Loul11v. & Jeff. B'1re.4 .... - . .. . 100¾-100.½ . ... - ... 97 - 97~ 97 - 97 . .•. - ........ .... .... .. . ... .. .• Manho.tto.n-1990 ...... 4 103)4-103¼ 102%-103¼ 108 -103¼ 101 -101¾ 100¼-101½ 100%,-101 100~·101¾ 102 -102 101 -102 9 J¼-100¾ LOO -101 00¼-lOO}s Metropol.Elev., bt .. (l 103¾-105 104¾-105 105 -105% 105,:t-105.½ 106¾-105½ 105%-106 102%-103¼ 103¼-103:111102¾-103¼ .... - •... 103¾-104¼!10!¼-104¼ Mex,Central-Conaol.4 78½- 80½ 80 - 85 81¼- 8S 78¾- 82¼ 77¾- 80 79¼- 80¾ 75¼- 78 7oxi- 77¼ 76 - 81'¼ 7J - 1-5 80:ifi- 84 83~- 87 l11t conaol. Income ... 3 24: - 26¾ 28¼- 26 23}(- 241}.f 20:ki- 25¾ 19¾- 22¾ 18 - 21\14 .16½- 19 18 - 19)4 18¼- 22}4 20)4- 27 23¼- 27~ 25~- ~ 2d consol. income .... 3 18¼· 20~ 18¾- 21 20 - 20¾ 18¾- 20¾ 15¾- 18¾ 14¼- 17¾ 14 - 16 14¾- 16 15 - 16½ 15 - 191}.f 17¾- 20~ 19 - 22;( Coll. trust, 1907 .. 4Xi 98½- 98~ .•.• - • . . . 98¾· 99~ 98¾- 93¾ 99 - 99 100¼-100½ 101 -101 - . . . 99%-1~ tO:> -100¾ 100,½-100¼ Mlnneap. & 8t, L.- , Pacific Ext., 1 at ..... 6 . . . - .... 120 -120¼ .... - ........ - .... 118 -118 .••• let, con., 1934, ir •••. lj 113 -114½ 113¾-ll3¼ . . .. - .... 114 -114 111 -111 U2¾-112:U ua -113 113 -113 111 -113 Ll3 -114 110½-110½ t09 -109 lat & ret., 1949 ...... 4 96¾- 97 96¼- 97 9471 - 94½ .... 00¾- 91 93½- 93¼ 94 - 94 94~- 94¾ 92¾- 9!1½ 118¼· 91~ 92~- 92¾ Desln.&F.D.193~4 97½- 97x .... - ... ..... - .... 97 - 97 . .. - ... .. . ., - . ... . ... M.St.P.& s.s.M .•'38.4 101 -101 101 -101¾ 10()¾-100~ 101 -102¾ 102¼-102~ 102¼-102~ .... - ••.••• - ... . .... - .... 101 -101 Mo, Ko.n. & Texo.s-ht, aold, 1990 ....... 4 100 -108 100)4-102 100 -101¼ 101 -102½ 100 -102½ 99¼-100¼ 99¼ -100¼ 99!14-100¾ 100 -101 99)4-100~ 03¾-100 96¼- 98 !ld,lncome, 1990..... 4 89 - 92~ 89 - 91 Hl¼- 60½ 86½- 9J 85 - 88½ 88½- SJ 88¼- 89¼ 86 - 87¼ 8!¼- 86!,4 85 - 86 81} - 87¼ 86¼- 88 let, exten., 1r .. 1944.6 107 -107½ 106¾-107½ 106 -106.½ 105¾-107½ 108¼-107% 105 -106 .. .. - .... 104 -105 105½-105X! 105'~-105~ ,O~ -102½ tOS¼-106 ht & 1.·et., 2004 ...... 4 .... - .. . 88 - 91¼ 89 - 90¼ 88 - 88% .. .. 87½- 87¼ .... - ........ 83¼- 88¼ 82%· 83¾ 86 - 86½ 5 - 88¾ Gen. 8, t., l 936 .... .4x .... 89 - 89¼ 88 - 89 87 - 89 88¼- 80~ 86¼- 86¾ 85 - 86\14 86¼- 871).t 87>&- 813¾ 66¾- 00¼ 8S - 90¼ ~t. Louis Dlv., l11t .. 4 93¼- 93½ 93¼- 94 93¾- 93)4 90 - 00½ 90 - 90 88 - 83 8t)¼- 88¾ .• •• - .... 88 - 88 . ... - ... .... - ••.. 89 - 89 Dall. & Wnco, l•t.. .. ~ 107 -107 100 -100 - •··· .... - ... .... - •• · · · ·• · K.C.&P.,ht,1990.4 .... - ... . 95%- 96 - . .. 96¾- 96¼ . . . - ••.. 96 - 96 .. .. - ....... - ••....•• - .•. 01 - 94 Mo. Kan,& Ok,, lat .;) 108¼-109).\ 109¾-109¾ l09 -109 108¼-103¾ 106¼-107 107 - 107!1,f 106~-107 . • - . . . .. ... - .... t05 -107½ L01'1,t-107 105¾--107 M. K.& T. ofT., lat.~ 107¾-1L9¼, 109½-109~ L06 -107)4 106 -106¼ 106M-107 105 -105 - ... . 108)4-109¼ 105¾-10~ L05 -106Xi t05 -lOti~ ..•• Sher.Sb.& S.tst, gu.~ .... - .. . ... - .... .. .. - . ... 108¾-108!4 . ••. - . .. . ... - · ·· · ·· Texa11 & Okla,, ht .. ~ 108~·108¾ 109¼-109¼ 106 -106 105¾-106¾ . ••• - •• . 101¼-101¼ .... - ..... . .. - · · · · .. 1.Uo. U. nn. & E,-l8t.lj 116¼-lli-¾ 115¾-116 115¼;-116 113%-113¾ 113)4-118~ .. . - ..... ... - .... 110 -110 lll¾-112 ll2 -112 . .•. Mhaonri Po.ci0c-3d, , 103 -103~ 103¾-103½ 103 -108 104 -104 101 -101 101% 101~ 101%-102¼ . ... - ; ... 102¼-102~ 103 -108 l8tconsol.. ............. 6 123¾-125 124 -12!1: 122¼-124¼ 121¾-128 120 -120½ 120¼-121 ... . - .... 120 -121 120¼-120!,4 ll9 -121½ 118 -119~ L19!,t-119~ Trust, gold, 1911 .... lj '1.06 -107 107 -107¼ 104 -101¾. 103½-104¾ 103%-104~~ 105 -106 103¾-105 105 -105¾ 103 -103¾ t03¼-104¾ 104: -104¾ L04,½-l06 Reaia1ered. .. . ... :} 104 -104 107¾ -107¼ ...• . .. - .... ·•• - .... let, collat., ir,, 1920.~ 107¾-h 8~ 106 -106 106 -106.½ 103 -106 103¾-106!h lOo -106¾ 105 -105 102)1;-103¼ 104 -104¼ 104 -105¼ 104 -1< 5¼ L0!¼-106 40,yr. 194~, g ........ 4 93~- 91¾ 93!14- 94¾ 91 - 92)4 92¼- 93 92~- 92~ 92¾· 93 91%· 92½ 92¾- 93¾ 90¾- 92 UO½- 91½ 91½- 91½ 90 - 90 Cent.Br'cb .Ry., l ■t.4 97½- {;9 94¼- 95 96 - 97 97 - ll7 9i - 95 05 - 96• 94 - 95 93 - 93 \14¼- 94½ 04~- 94½ 94¼- 95½ . ..• - .. .. Po.c, ot ll'lo., let, ext .. 4 104.>1-105 . ... - ... . .... - •.• . 103 -108 •. - . ... . .. - .... . OL¾-101¾ .... - .... ... . - •... . ..• - •....•• - .. .. 2d, 193S, ext ....... ii 119 -1:!~ . ... - •.....•. - ... . .... - ... . 116 -116 116¾-118 .. . . - ....... - .... . .. - .. . St.L.&I.M,aen.& l.1r.~ 116 -.117¾ 116\ij-117\14 116~-117½ 113 -115½ 112 -114 114 -114!}.( ll4 -114½ ll!l¼-114.½ lH¼-115 111¾-118~ 113¾-114¼ 118!,(-114 Unify,& ref,, 19~9.4 02½- 93% 92¾- 98½ 92¾- 93 91~- 98 )4 91¾- il3!':f 9a - 94. 89½- 1!2¾ 89½- 91 80%- 91 90 - 91¾ 90¼- 9lk 89M- 91¼ Riv.&G.D.,lst .. .. 4 94¾- 95 94%- 96 95~- 95¾ 94¾- 95¾ 93¾- 93¾ 93¼- 9i~ 92½- 98¾ 98 - 9:l 93 - 94' 931).(- 94% 91¾- 93 92 - 92" Vel", V.I.& U', ,l ■t,G ... - ....... - ........ - . .. . 107½-107½ .••• - ...... . Meb. & Blr., prior I ••• 6 ••• - ..... ... - .... 118 -113 113¾-115% •••• - ........ Mob. J & K. C,-ht .. ~ 94¾- 97 .••• - ••. . 116 - \17 96 - 96 •••• - •••• . ••• - ........ - .... 96¾- 98 98 - 98 08 - 98 .... - . .•. Od - 98 Mob.& o.-New, 1927.ti l26¾-l26ka 126¼-~ 126"-127 126 -127 126 -126 .... - •••.•••. - .... 124¾-125~ •••• - .. .. 12i ¾-127½ Gen. mort., 1938..... 4 9$M- 99 - . ....... - .•. 94¼;- 95 .... - ........ - .... 93 - 98 9:l - 9! 93 - 98 1'lont1rom. Dlv., lat..~ .... - ........ - .... 1133'-1~'3½ •• - .... 114¾-lH¾ 114¼;-114¼ .•.. - •.••.••• St.L.& Cairo, col.tr,4 ... . - .... 98 - 98 95 - 95 •••• - ........ - •.•. . ... - .... 923'- 92¾ .... - .... . ... - ... . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 86 RAILROAD BONDS. 1906-Contlnued. BONDS. ---------·Na8h.Ch.& St.L.-lst.'7 JANUARY FEBR'RY. MARCH. APRIL. JUNlC. JULY. I AUGUST. SEPT'BER. OCTOBER. Nov'BER. DEC'BER. - - - - - - - - - - - -·---- -----1---·Low .High Low.High Low.High Low.High Low.High Low.Hillh Low.High Low.High Low.High Low.High Low .High Low.High ----- - - - - - - - - - - - - - - - - - - - - - ---- - - - - - - - - ---- - - - 118 -119¾ 119¼-119¾ 119¼-119½ 119~-119~ 115¼-119 115 -115¼ 112~-112¼ 112 =118 119 9 Con8ol.a., 1928 ...... ~ 114¾-lU'¼ 114%-115 N;~:{f:E.~:~~~:~: MAY. ;~¼:1~~~ ¾-l1 ¾ .... : :::: ~~~ :1C 5 . .. - .... 115¾-115J.d 116¼-116¼ 115¼-115½ ... - .... °ilS¼-118¼ 118 -118 113 =113:){j . . •• : ....... = .... 113¾=118¾ ll3 =118 \118¼=113~ l13¼=118¼ - ::: · :::: - ·:· . ... - :::: 1~~¼-1~~~ :::. - :::. · ::: - ::::i:::: -:::. ~~~¼-1~ .. ht, consol., 19~1.. 4 85 - 87 86 - 87¼ 85 - 86% 88 - 84 88 - Bi¼ 84¾- 85 88¾- Si¼ 84¼- 85 857,!- 86 823'- 8-! 183¼- 86 Si - 86¼ If. Y. Cent'l & Bud. R.Gold, 199'7 ........... 3½ 98 - 99).d 98 - 99¾ 97'¼- 98¼ 97¾- 98¾ 97¾- 9~ 98¼- 98% 95¼- 96% 91'¼- 96'¼ 92 - 92:){i 92¾- 95½ 94¼- 95¼ 92¼- 96 Reahtered ......... 3 ~ 98¾- 98½ 97¼- 97½ 97:){j- 97½ 9!½- 94½ 92 - 92 92%- 92~ 113¼ ·· 95!l .. . - .. . 93¼- 98>,i Deben., 1r., 19:14 ...... 4 l0Q¾-101¾ 101 -102 101 -101¾ 101 -101¾ 98¼- 99¼ 99 -100¾ 99:1:(-101¼ 100 -101 100 -100!1;1 IJ9%-102:UI 98¼- 99~ 98 - 99¼ Reirlstered ...... . .... 4 .... - ........ - .... 101 -101½ l0Q¾-101¼ . ... - ...... . . - .... . ... - . .. . Lake Shore, coll ... 3 ½ 89'¼- 93 88%- 90¾ 88¼- 89¼ 88 - 89½ 88 - 89¼ 89¾- 90¾ 88 - 90:){j 87~- 88½ 87)4- 88¼ 87 - 88 87¼- 88!1;1 87½- 89 Re1rlstered ........ 3½ 91 - 91J.t; 88 - 90 88 - 88 88~- 88¼ 87"-- 88 88¼- 89 88 - 88½ 85¼- 85~ 86 - 88 86 - 86!',( 87½- 88 86¼- 86¼ Mich. Cent'l, coll .. 3 ½ 8~- 92½ 89¾- 01 89¼- 89¼ 89¾- 89~ 88'¼- 89¼ 89¼- 90 89¾- 90 88 - 81:J - .... 86%- 88 tl6¼- 87¼ Realstered ......... 3¼ 90~- 90J.4 .. . - . .. . 86¼- 89 .••• 88~- 88¾ Beech Cr'k, ti,,t, gu .. 4 - .. . 105¾-105½ . ... - ........ - ,._ ..... - .... 104 -l0i 102 -102 .... - .... 102~-103:l,a .... Moha.wk&llla.l., 1st 4 .. .. - ........ - ... ..... - ........ - . . .... - ....... - .... 103 -103 . N. Y. &Put., lst,1ru.4 .... - .... 104¼-104¼ .... - ..... . . . - • r • • .... - . . . . . ... . . . 100 -101!,4 West Shore, gua.r . .. 4 107 -109 107 -108 106"-108¼ 1051~·108 105¼-108 107 -108 105 -105:J.( 104 -106 L<M½-105¾ 105 -106 105 -106!,,t 105 -106¾ Registered ............ 4 106¼-107½ 106¼-107:l,a 106 -107 104¾-106l!,t 105¼-107 104 -107¼: 103%-105 108¾-10!¾ 103% -104~ 103¾-104¾ 108¾-105 l02¼-105¼ L.S.&M.S., a-., '97 .3½ 100 -100¼ 100¼ -101¼ 99 -100¼ 100 -100 98 -100 97 • 98 96½- 97¾ 96 - 97¾ 95 - 97~ 95 - 96 96 - 90¼ 9.le - 96 Reirlstered ......... 3½ 99¾- 99¾ 99 - 99 99 - 99 98¾- 9~ 96lJ;!- 99½ 97J..(- 97¾ 96 - 96 .. .. - .... . .. - .... 98½- 98~ 93 - 93 Debenture, 19~S .. 4 100%-101'¼ 100¼-101½ 98½- 00¼ 96¼- 99~ 90¾ • 98½ 97¼- 99¾ 99 - 99¾ 99¼-100% 97¾- 98½ 97¾- 99¼ 98½-100 97¼- 99¾ Reirlstered ....... .. 4 - ....... 96¼- 90¼ . ... - .... - .... 98¼- 98:½ Det.M . & Toledo .. 7 ... - .... 101¼-101¼ .... - ....... - ... 99 - 99~ Mo hon. Coal RR ... ~ . . - .... 122¼-122% 125¼-125½ - .... 107¼-107¾ Mich. (,ent., 1909 ... 6 ... - .... . .. - ... . 104: -104. - .... 118)4-118¾ .. .. 1031 ...... .. . .......... 0 120 -120 .... - ..... ... - ....... - ... . ll9 -119 Realstered ......... ~ .. .. l03 -103 - • . . 104¼-104½ . . . • 1940 ............... ... 4 .... - ••. 9Hf!- 94¼ J. L. & S., 19:Jl .. 3½ .... let5r., 19~'l . .... 3~ ... . - .... 97'¼- 98¾ . ... - .... 97 - 97 9; - 95 - .... 96¾- 96% 97 - 97 - .... 97 - 97 N. Y. & Hal"lem .... 3 ½ .... - .... .... - ... . l0l½-101½ ..• Utica & Bl.R., 19!l'l.4 . ... - .... . ... - .... .. . .. .. - .... 113¼-lli Ll8¼-113'¼ 113%-118¼ lll¾-112½ . ... - .... l13J..(-11S~ R.W.&O.,con., let.~ 116 -116:){i 116¼-116¾ 116¼·118 118¾-llS!M 113¼-lli lU -114. 104 -104 108¼ -108% . ... - ... . . - .. . j . . - . . . M. Y. Cit. & St. L.-lst.4 104¼-105½ l · 5¼-105½ 105½-106 108¾-10!¼ 104¼ ·106 l0i:k\-104¼ 104½-105 104¾-l0ill;i 10-1 -104½ 102 -102¾ 102¾(-102¾ l0~¾-102~ Re1ri11tered . . .. ..... ... 4 ... - •.. - • .. • •.. • - .. •• · ... ... _- .. · .. ·· -_ .... • .. • _- .. .. .. · _- · · · · l00'¼--100¾ · · .. -_ .. · 1.... -_ . . .. N. Y.:N. H.&H.Housntonic 193'7 ... 0 .. . - ... 124 -125 N. y. o. & w .,ret.,lst.4 l021J(-104!J;! 103 -104 100½-101½ 101 -101~ 100¼-101~ ioo1,4-1oi¼ 1o·i -102 .. 1()1~-102 .. . ii~¼-100 .. ~00 -102¾ 100¾-l0i½ 10°0¾-l0i¼ Redstered ........... 4 .. .. - .. . . - .. -. 101 -101 101¼ 101½ . . .. .. • 104. -104 .. .. Norf. & So.-lst, '41 .. ~ 107¾-109 LOS -111 - .. . . 110 -110 Norfolk & Western.... 131%-131¾ - ... . l29 -129 .. . • Genera.1, 1931 ........ (l 132"-132¾ 182¼-132½ . ... - ... . 132%-132~ . ... Jmpt. & Ext., 1934.. 6 ... - ... . l .>01}4-130¾ ... - . . .. 127¾-127¼ ... New River, 1932 . ... 6 ... - . 99M-101 100¼-100¼ 100 -100'¼ 100¼-101¼ 99¾-101 N.& W.Ry., lst,con.4 101~-102:1:1 101~-102½ 101¼-102'¼ 100 -101 98¼- 99¼ 09 -100½ v8¾- 99¾ Realstere it .. ......... 4 ... - . ... 100 -100 Dlvl8'nnJ, lat ll en.4 98¼- 99¼ 99 - ll9 98½- 99½ 97 - 9{!½ . ... - ... 98¼- 99 .... 98 - 06¼ 08 - 97 9il,;{- 97¾ Poca.h. c. & C.jolnt.4 94¾- 95:½ 94¾- 95¼ 92 - 93¾ 91 - 92¾ 91 - 114 923'- 98¾ 92¼- 93 93 - 93¾ 92¾- 93¼ 9~¼- 9J 92¾ · 93 1:10¾ 112 !Se. Va.I. & N. E., tst.4 t00¼-101½ 101 -101¼ 101 -101¼ 101%-103 99¾-100 99¼·100½ 100 -101 99¾-100 99%- 99~ 1:19 - 93~ 98 - 99 I:!! - 119¼ Northern Pa.clflcPrlor Hen, 199'7 ...... 4 104¼-106¾ 104 -105!1.( 103%-105 103 -10-!~ 102:ij-104¾ 104 -105½ 103½-104¼ 103½;-1"4~ L03 -101¼ 102¾-103¾ l03 -IO.le .0~¼ 103" ReirbtPred . .. . .. .. 4 104 -108 104 -104 104 -104 ..• - . -- . 102~-102½ . . - . .. . 102¼-103¾ 102½ 102½ .. - .. 102¾-108).i. 102 -102¾ 10:1~ 103 Genera.I lien, 204'7 .. 3 761}(- 78½ 76 - 77¾ 76¼- 77¼ 76¼- 77 75 - 77¾ 75M- 76¾ 76 - 77½ 75¼- 76% 75!4- 76 7 i¼- 7o½ 74'¼- 75½ 73¼ - 75¼ Re1ristered ........... a 75¼- 75½ 75J..(- 75¾ .... - ..... .. 74¾- 76¼ 7rJ - 76 'i51(- 751 75 - 75 St. Po.ul-Dul. Dlv .. 4 100¼-101 . ... 93 - 96~ 98 - 98 08 - 98 - . . . . .... St. Paul & No. ·Pa.c .. 6 . ... - ... .. .. - .... 124 -124¾ 125 -125 124¾-124!1;1 - ... 122¼-122},f, 122%-122~ ... - .... 123:11-123¼ St.P,& Dul., let,'31.~ .... - . .. . ... - ... 113 -113 .... ~d, 191 '7. .... .. .. ... ~ t09¼-109:X 110 - 110 109¾-109¾ . ... - ........ - ... . :08 -108 107¾-108¼1 • .. - . ... 100 -100 .. .. - .. .. 98½- 98½ 98¼- 98½ .. - .. . .. • let, con sol., 1968. 4 ... . .. . 91 - 93 ... . ... Wash. Cent.Ry.,lst.4 .... - ... - ... . 116¾-116¾ . .. • - .. . 116 -116 .... ... - ........ - .... ll6¼-117 .. No. Pac. Ter. Co-lst..6 115 -116 - . .. . 116 -116 •.. : . ... - ....... - .... ll3x,-ll3½ .... Ohio Riv., let, 1936 .. ~ .... - ... General, 103'7 ... .... ~ 110¼-114¾ - .... 100 -100¾ . . . 98~- 98~ . ... - . . . 97 - 97 - . . . . 9~ - 99 Ozark & Cber.Cent.-:i .... - ... . - ... 110¼-112 112 -112 109¼-109~ Pa.clRc Coo.st Co.-lsr.~ 112¼-114 113 -114 111!1;1-114 111 -112 112 -112 no -110 no -110 - .. .. .. . • - .... 103 -103 . .. • Po.namn-l•t• 11. t ..... 4)1 106~-1 ~ ... - .. .. . .. • Penn11ylvanla Co.1st, coneol ...... ..... . 4 J.t 106M-l~ 106%-107¾ 10'3½-107½ 107%-108 106U-108 107M-108!J4 101¼-106¼ 105 -106 105¼-106 106 -106~ L06¼-107¼ 107 -108¾ Re&rhtered .. . .. .. 4½ - .. . . ... ... - . ... 105 -105 . .. . . . . . . . · 1 l06 -106 ....... - . .. 9-1-94 Gn,col.tr.ctfs '37 .. 3 ½ . . - ... - ........ 90¼- ll0¼ Gu. col. tr. c t f's., B .. 3½ 92M- 92¾ . . - .. • . 91½- 91½ . .. - ... ... .. IJ0 - 90 . ... - .... .. - .... 90 - 90 Tr.Co.ctf's.,iru •.'16.3\.t 97¾- 97~ 98 - 98 97¼- 98 913¾- 0tl¾ 95¼- 96 96¾- 97¼ 90 - 96 06¼- 96¾ 96½- 98¾ 97~- 97¼ 97¾- 97!1:1 07¼ 99 89 - 89 Qua.r., 1942, o ...... 3 ½ .... - ....... . - • .. • • •.. Tr. Co.ctfs.gu.'41 .3½ ... - .. . .... - . . . . 90¼- 90½ . .. - . ....... C.St.L.& P., lst.'3~-~ 122 -122 119¼-119½ . . . - .... 118 -118 117¼-117½ 117~-117~ 120¾-120½ Erle & P., Ser B ... 3~ 96¾- 96¼ .. .. - ... .. ... - ........ - .. .. P.C.C.&St.L.,Sr.A4 x . .. . - . . .. 112~1127~ . ... - .. . . 109½-109½ 109¼-110 110 -110 . .. . - .. .... .. - ... . 108¼-108½ .... Serle8 B., 1942 ... 4\.t 112¼-112¼ 112¼-112¼ .... - ... 109¼-109¼ . .. - ... . 100% -110 . ... ..• - ••. ll0!Jl{-ll0U ... . - .. .. 109%-110 Serles D, 194:J ..... . 4 .... - .... 99 - 99 - ........ - .. .. Series E, 1949 .... 3 ~ 94 - 94¾ 92½- 92½ 92¼- 92¾ .... 90>9 - 90¼ - . ... 89%- 90 90 - 90 .... P.Ft.W.&C .,2d,'1~.1 .. .. - . ... 117¼-117¼ .... - .... 118 -118 . ... - .... 119 -119 .... - ....... - ... Penneylva.nla. RR.Real estate, 1923 .... 4 .... - .... . .. - . - .... 106¼-106¼ 104¼-104'¼ . ... - . . • - .. . . 104¾-104¾ ... - .... l0i -10, Conv., a-old, 191:J .. 3\.i'> 93 -101 97¼-100¾ 96¾- 98 959'- 9~ 95 - 96½ 93~- 01% 92¾- 94~ 94¼- 97½ 05'¼- 97¼ U5¾ · 9, 95¼- 99¼ 1,2 - 94)( Re1rl11tered ......... 3~ .. . .... - ....... - ... .. ... - ... ... - .... ... - ... 97¼- 9ix, Oonv., 1rold, 191!l . . a½ 103¼-105¾ 101 -104" 100 -101¼ 99¼-102¼ 96¾- 99 G6¾- 98¼' 96 - 97¼ 97¼-103¾ t00¼-103¼ L00¼-103¾ 05¼-101 06).(- 99¼ G.R. & I., ht, ext.4 1,. 108 -108 108¾-108¾ .... - .. . . 107¼ -107½ .... - .... 105 -105 108 -108 Phil. Bnlt. & Wnsh .4 109 -109½ 110¼-110½ . ... - .. .. l07½-10i~ ... - ....... - .... Registered ........... 4 . . . - ........ - .. .. .. . . - . . . . .. . - .... 104~-l0i¼ Pere Mn.rquette- .... ll3)'9-113½ . • .. Fltnt & Pere Ma.rq .. h . ... - ... . 118 -118 117 -117 112¼-112½ - .. 105 - 105 .. .. - .... 107 -107 . .. • 1st cons., g., 1939.~ 110¼-110¼ .... 110 -110 - .... 106¼-106½ .. • • Pt. Hur. Div., 1st .. ~ lllx,-111½ ... - .... 0~J,g -107¼ .••• • Pitta. & L. Erle-2d, ~ ... - ... . . ... Pith. Sh. & L. E.,l11t.~ 118 -120 . ... . ... 120 -120 .... Rea.dln1r-Gen., 199'7.4 l C0~-102~ 100%-102 100¼-101 100 -100¼ 09¼-101 100;J4-t02½ 119½-100½ 99 -100 99 - 99¾ 09 -100 99¼-100 IJ9!,,4-100¼, ... Re1rlstered .. ....... .. 4 100¼-100¼ . .. 99~-10) lOOx..-100¼ .. .. - .. .. . .. Jersey Cent. colla.t .. 4 100 -101:kl 101 -101¼ 101)4-101½ 99¾- 99¾ 97¼ - ll8 98)4- {19¼ 98¼- 99¼ 98 - 99 97 - 98 95¾- 97~ 95%- 97¼ 96¼- 97¼ Reaistered ..... ...... 4 .... - ....... 96¾- 96:¾ Phil. & Read., conit.6 ... - ... . .... - .... 110%-110}1i .. .. D Consol., 1911 ....... 7 .... - .... . .. - .... 115¼-115½ .... Rutl'd-O.&L. C-1,.t 4 0ll½-100¾ 99¾-100 .... - .... ..._ -_ _ _ _ __ _ll8¼~8½ ....:...:..:...···· .... _ -_ •••• _.._.._ - - ~ - - - - - - - ' - -- - https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis - ........ - ........ - .... ... - .. - .... ... - ... ........ - ... . RAILROAD BONDS. 87 1906-Continued. BONDS. JANUARY FEBR'RY. MARCH. APRIL. MAY. JUNE. JULY. Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.Hlgt Low.Hlllh St. J. & G.I.-ht,' 41' .4 92¼- 94½ 933-.(- 94½ 933-.(- 93¾ 92¼- 92},o 92¼- 92½ • •• • - • • •• 90 - 90 90 - 90 90½- 90½ •••• - • • • . 91½- 91½ . •• • St. Law. & Adlr., 1 st.:J 122 -122 .••• St.L. & San Fran.Ry.Cla■- B, 1906..... ..... 6 102 -102¼ . .•• - •••• 100¼-100¾ 101 -101 .. .. - •••.••• Ola■- C, 1906 ......... 6 102 -102 . .•• - .... L02ll:(-102ll:( .••• - .... 100~-100¼ . ... - ... . 1013,(-101¾ .... - ... 102¼-102½ .. .. General, 1931 . . ..... . 6 127 -127 125 -125 .... - .... . ... - •••. 127 -127 - • •• 125 -125 .••• - ... . 125¼-125¼ .... - •.•. 127 -128½ 126M-1~ General, 1931 ........ :J 111'4-113¾ 113 -113¾ L12'(-118 113¾-114 112:J(-113½ 113¼ 113¼ 110 -111¾ 110¼-111~ 109¼-110 110 -110 111 -112½ 112½-113'4 RR.-Cone.,e.,1996.4 .... - ... ..... - -·• .. .. - . ...... - ........ - . . . 95!1.- 95½ . •.. - ... . 92 - 93 ..•• - .. .. Refund, 19:Jt ....... 4 85 - 87½ 85~- 88 86 - 87¾ 84¼- 88 84¼- 86 85¾- 87¾ 82 - 83½ 82¾- 83¼ 81!1:(- 83½ 83¾- Si~ 82 - 84½ 83½- 843' :Jyr.-notea, ir,'08.4½ 95¼- 95~ 96 - 96 .... - ....... - •••. 97 - 97 .••. - •.•.... - .. . . .••• - ••. 98 - 98 . .•• - .... K. C.Ft.S.& M., con.6 .... - ... ... .. - ........ - . . . 121 -121 U!0*120¼ .. .• - .. . . • •• - .... . ... - . . . - •.. . ...• K.O.F.@.&M.,ret.4 87 -87!14 87 • 817¾ 86¼-87¼ 84 -84½ 8~-84¼ 84 -84½ 82¾-83¼ 82 -Si 81¼-84 81 -82½ 81¼-82~ 81~-82" St. Lou. s. W. t st '89.. 4 96½- 99!14 99 - 99~4 97!1:(- 98¾ 97¼- 98¼ 95~- 97. 96¼- 961}.( 94M- 96 95¼- 97x 9t~- 95~ 96 - 97 94 - 95½ 94¼- 95M ~d Inc., 19~9 .. ... ..... 4 85½- 86½ ••• - . •• . 85 - 85¼ .••• - . •• . 84 - 88 87 - 89 ..•• 82½- 84¾ .••• - ••• . 86 - 86 ...• - . .. 86 - 86 Consol., 1rold, 193~ ..4 80¼- 82 80¼- 82 'i9¼- 80¼ 78¼- 80 7$%- 80½ 77 - '79½ 76 - 78 76¼- 77JA 77¼- 'i8½ 79 - 80¾ 80!1,!- 81½ 76¾- 79~ St • .P. M. &M.-~d .... ti . . - ... . .. - .... 109~-109½ 106¼-106¾ ..•• - •... - .••..••• - .... 108 -108 - .. . 105¼-105½ . ..• ht, consol., 1933 .... 6 136¼-137x 137¼-137½ . ••• - •••..••• - •... 13$¾-183}4 133½-183.½ •••• - ........ - ....... - ••• 133 -133 L33'¼-1833f .... Re1rl11tered ........... 6 . . .. - .... . .. - ... . ...·. ... - .... 134 -134 Reduced to ......... 4½ 112½-112~ 112 -112 110>11-111½ 110¼-111½ 110¾-110¾ lll¼-111¼ •. - ..•. 107~-108 107!1:(-107¾ 109ll:(-1G9~ 111 -111 111 -111 Dakota Extenalon .... 6 109%-110 llO'ts-110¼ 110>11-lll ..• - . ••. 108 -108 108 -108½ 108ll:( -108!J.f •••• - ... . .• - ........ - .... 106>11-106½ .. . Mont.Ext.,lst,1931'.4 l03½-104>t 103¼-108¼ 102 -102 .••• - .... i08¼-103¼ 102¾-102}4 100 -100% 101 -101 - •••. 100¾ 100~ 101 -101½ LOO -100 Re1rlstered ..... ..... .4 .... - ........ - .... .... - ........ - . .. . . . . - .... LOO,l,t-100¼ E. m. ht div., ht ....;'l . .•• - •••. 101¾-101)4 .. - •.. . ... - •••. 101¾-101½ 101~-101~ ..• • - ... 100¼-100~ Mont.Cen.,lat,1937.6 136 -136 186 -18/J .••• - ........ - •.•. 134 -134 134¼-134¼ ••• - ••• 138 -133 ••....• - •••• Re1rlatered .......... 6 .... - .... 186;(-180¾ . ..• - .••...•• - .. - ••• . . . - •.•• 1st, 1ruar,, 1937 .... :J .... - ... . 119¼-119½ 118¼-119¾ .... - ••• •. .•• - . - ••.. 116 -116 .••• wn.&s.F .. ]sr,'38 .. :J .... - ·••· .... - ........ - ... . .... - ........ - ........ - .... .... - ·•• · ... - ::.· Li5½-li6ij s. Fe Pres. & Phe ..... ~ 112¾-112~ •.• - .... . .. - •.•.•••• - ••••... • - .... . ... - •.. ..• • - •.. . .. _ ... . i07¾-107¾ Seaboard Air Line .... 4 89¾- 92 90¼- 91¼ 90 - 91 86¾- 88½ 86½- 88 87¼'- 88¾ 86!1:(- 88 86!'-(- 87¼ 86Xi- 86¾ ti8½- 84 82 - 88.111 80"'- 132!1:( Collat. trust, l.911 .. :J 102¾-103¼ . .•• - •.•. 102¼-103¼ 102¾-102¾ 101 -101~ 101 -101¾ 101!1:(-101¾ 101½-102 102 -102¼ 102½i-10!~ 100 -100½ 99¾-10()¾ Atl.-Hlrm., t ■t .. .... 4 96¼- 97 ..•• - .. .. 9i - 95 95¾- 95¼ . ••• - ........ - .•.. 92½- 92¼ 98 - 9~¾ - •.. 92 - 92 Car. Cent., 1st, '49.4 .... - .... 96½- 97 - .... . ••• Fla. C. & Pen., '18 .. :J .... - ... 107~-109 109¾-109¾ 109>11-109½ 109¼-109¾ 107¾-107¼ 107¼ 107~.( ..• 110 -110 Go.. & Ala., 1st, con.~ ... - .... lll¾-111½ .•• - •.• . 110>11-110:¼ . .•• - .. @eab. & Roan., lst .. :J - ... . .... - .... ... - ... . 110 -110 ..•• - ... ... •. - ••. 108 -108 Southern Pacific Co.1st, refund., 19:J:J ... 4 95 - 97¼ 96;(- 97¾ 96¾- 96¾ 94¼- 97 94!':(- 96!14 96~- 97~ 94¼- 95¾ 96 - 96~ 95~- 96¼ 95½- 96~ 95~- 96½ 96 - 97~ Collo.t. trust, 1949 .. 4 93 - 96~ 93¾- 96½ 92¾- 94 91½- 98¾ 91%- 94 91)4- 92½ 91¼- 93 91¾- 92½ 91¾- 92¾ · l•l - 02½ 91~- 92 ES - 90 Re1rlstered ......... .. 4 .... - .... 92 - 92 91¾- 91½ ..•• - ••..... 90 - 90 - ........ - ........ - ;•e!~::: t:::~o.'!,Nis~ Rellistered. ........ 4 Mort., 1ru., lr,,'29.3½ Through St.L.,lst.4 G.H.& !!S.A., lst,'10.ti M. & P. Div., 1st .. ~ Gila Val. G.&N.,lst.:J H.E. & W. Tex., 1ru, .a, Houa.& Tex.C., lst.:J . Cons. ll•• 1912 ...... 6 General, g., 1921 .. 4 Waco&N.W.,18t7 Mor.L.&T.SS.,lst.1 1st 1rold, 19~0 ..... . 6 JSor.ot Cal., lat,1ru.6 Ore. & Cal., 1st., gu.:J ~an An. & Ar. PaH.4 So.Pac.,Arlz.1909... 6 1st, 1910 ............ 6 So. Pac. Cal., 1906 .. 6 1st, 191~, E & F ... ti 1st, con., 1ru.1937 .. :J @. Pac., N.Mex., l ■t.6 T.&N.O.,Sab. D.,l ■t.ti ·go 1oi·½=l02¾ l:~!:½ . 99*100¼ =100¾ .89. =100~ .... - .... .. .. - ... ... .. - ... . . .. - . .. . 98¼- 98¼ 87¾- 88 87¾- 89 88¾- sa 88¼- 88¾ 88¾- 88¾ .... - .... 99¼- 99¼ 99 - 99 . ... - ••.. . ... - ... 106 -106 ..•• - ... . .... lll¾-111½ .... - ••...••. - ••• .. ••• - .... ..• - .... .. .. ... - . .. 106 -100 104 -105½ 105¾-105½ .... - •.. . 105½-106½ 103½-103½ ~10 -111 111 -111 110¾-111½ 111¾-111¼ lll¾-111~ .... - ... 111 -111¼ lll¼-111½ ..• 9S - 99¾ 99 - 99 97 - 99 - •.. .... . ... .... .... .... - 87%- llO 104¼-104¾ .... 102 -102 113 -113 119 -119 .... - - . . . 102¾-lOl½ . • . • 88¾- 90 105¼-106½ l~-106¾ - •. . 118½-113:Ja 88~- 89 •88 - 89 105½-105x, ... 10fl¾-l<i6¾ 107 -107 . ..• .•• - - ... . .... - Si¾- 89 .•.• - - •.. . 106 -10,j¾ .... - 111¼-111¾ . .•. - ... .. .. - Consol .. 1rold,1943.:J .... - ... . .. - ... .... - .... 110 -110 .... 8outhern- lst, 1994 .. ~ 118 -11$¾ 118 -119¼ 117%-118½ ll6 -118 U5¼-118 118 -110 Re1rlstered . ......... . G .... - ... .. ... O!l½- 96 94½ 95 96 - 96 M. & o. col. tr., '38.4 97¾- 98!,4 97 - 98~ 95 - 96 118 -118½ - •.. . 118 -llll½ Memp. Div,. let.4~-:J ... - . . . . ... 98¼- 98¾ 07¾- 98 97 - 98,¼ St. Louis Div., lst ... 4 98 - 99:¾ 98¾- 99½ 98¼- 99 Ala. Cent., 1st ........ 6 113 -113 .... Atl. & Dan., lst,'48.4 .... - ... . .... 90¾- 96¾ . ••• 96 - 90 ~d, 1948 ... ........... 4 .... - ... .... 9~ - 92 E.T.Va.& Ga., Div.. :J 114),4-114¾ ..•• - ... 115½-115½ 116 -116 . ..• Consol., 1st, Ir••······:; 119)4-119!{ 119 -119¾ 119>11-119¾ 119~-119¼ 116 -117½ 116),4-118 E. Tenn. reorir. llen .. :; . ... - . . . 116 -116½ .•• - . .. . ..• - ... . 113½-113}1. ...• - .. . Ga. Midland ht .. ... . 3 .... - ... . . .. . .. - .... .. .. - . .. . 72¼- 72', Ga. Po.c., 1st, gold ... 6 122 - 123 122¼-122½ 121 -121% . - •... 121 -121½ 122¼-122¼ Knox. & o., 1st, 1r... 6 122)4-122}2 .. - .. 122¼-122¼ 122¾-122¾ ..•• - .... . ... - •.. Rich. &Dan.,con.,1r.6 114 -114 114¼-114½ 114 -114 114¼-114!,6 113¾-116 114¾-116~ Deben., ■ tamped ... . :J 112¾-112¾ .. .• - .. . - ••.. 107¾-108 105 -106 - •... So. Car. & Ga., lst .. :J 107¾-107¾ 108½-108½ Va. Mid., ser.A, '06.6 .... - ... 101¼-101¼ 109 -109 Serles B, 1911 ..... 6 .... - .. .... . Serlu D, 19~1 ... 4•:J ... . - . .. . ... General, 1936 ... ... I> 114 -114½ . ••• - •• •. 111%-111¾ . • . - •••. 109,¼-100½ ..• Stamped, 1ruar .... :J 114½-114).\ . ••• Wash. o. & w., lat.4 .... - ........ W. N. Car., 1st, con.6 113¼'-113¼ 113 - 113 112¼-112¼ . . •• - . . . 114 -114¼ Term'l ot ~t.L.-1st,4x 112 -112 - .. . . .•. .... 109 -10;> 1st, con sol., 1944 .... :J .... - ... 119 -120~ .... - •.. . 119¼-120 . ... Gen. ref., 19:;3 ....... 4 98½- 99¾ l00¼-100¼ 98½-100¼ 98J,,- 1:19¾ 97½- 98½ 98 - 98 St. L. Mer. Bdire • ... . ~ .. .. - . . - ... . . . . ... - .... . ... - ... . 111 -111 Tex. & Pac., 1st, arold.:J 121¾-123½ 123 -123¾ 128 -123¼ 122¾-123¾ 122¾-124 119 -120~ - • . .. ~d, 1r,, Inc., ~000 .. .. . :J 102 -102 . .•. - .... ... . - .. .. .... - •....•.. La. Div. B. L., 1st ... :; 109¼-109¼ 110 -110 lOSl}t-110 Toi. & O. 0.-lst, '3:;.~ 112~-114l,ii 112!1:(-115¼ 113 -118 L14!J.(-114¾ ..•. - . .. . 112 -112 General, aold, 193:J.:J 107 -107 .... - .••. 107),4-107¼ ...• - •••. 109 -109 ..• , - . . 97¼- 98~ Kan.&M.,lst,a-u.,1r.4 99¼- 99½ 97¾- 99¼ 98 - 98½ 95¾- 96 98 - 98 91)4- 91¾ Toi. Peo. & W .-1st ... 4 92 - 92 91¼- 91½ 98)4- 98!J4 .••. Toi. St. L. & West .. 3½ 89~- 90 S0 - 89¾ 89¾- 9C ... . - •.•. ~9½- 89¾ :JO-year, Ir•• 1926 .. . 4 83¼- 84~ 83¾- 84½ 88½- 84 80¼- 82 80¾- 80½ 80½- 81½ Tor.H.& Bo1f., lat .... 4 .... - .... .. .. - ... .. - ........ - ... . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis .99 10())4=10i~ 1.o·i =102·· =100· · 98¼- 99~ 98¼-100¾ .99¾-100¼ 10() -100¼ .... - .. . 87¼'.- 87¼ 86¼- 88 86¾- 87 86 - 86:ki 867-(- 87 so~- 86¾ 85!1:(- 86 95 - ll5 06 - 96 96 - 96 - •. . . 105 -105 . , .• 110 -111!):i . . . - ••. .. .•• - •.. - •••. 111 -111 L09 -109 . ••• - .... 106¼·106~ 106\.4-lOSJ,,s .... - . .. . - •.. . .•• - ••...••• . ..• - .... L03½-103½ 103½-104 . .• - . .. . ...• - •....••• 111¾-111¾ 109½-109½ . ..• - •.. . L09}4;-110 111 -lll'h 111¼-111!14 111¼'-112½ Ll5 -116 110¼-110½ 110~-110¾ 110)4-110¼' 96 - 96½ 95½- 96¾ 95 - 96 115¾- 95½ 08~- 95½ 94 - 95 94 - 94 - ... . ... - .... 110 -116 127 -127 ..• • - •.. . .•• - ... .. .. . - .. Ll6 -116 - ... . 101~-101¾• ··· 99 - 99 - . .. . . .. • - ...... .. 88)fi- 90 86 - 87¼ 85½- 87 65¾- 87 86¼- 87¾ 86¾- 87¼ 86¾- 80¾ - ••. 105½-105½ 105 -105¾ .. . - ... . 106½-106¾ - ••. 106¾ ·106~ 107 -107 . .•. - .... . ... - .... . ... - ••. . 111 -111 . •• - ••. . •• - - • .. . 11 5¾-116!>4 1,0-lH 95 - 95 . .. - .... 97¼- 90 . . • - .... 104 -104 . . . • 115¾-116¾ 115 -115¼ 115)4-117¼ 116 -117x 115>11-1163( ... . . . lU-114 .••• - •••• 91½- 95!,\ 93!1:(- 93~ 93 - 94¾ ll3¼- 94¼ 92¼- 93!1:( 118 -118 l 15 -115 ll6 -ll ; ~ ll6½-119 . ... · •.•• 08 - 98 1:14¼- 96 95¼- 97 97 - 97½ 96½- 98~ - .... .... - ........ - . . .• - •••. ll7½-118 114½-114½ 72¼'- 72¼ ...• - ••. . ... - ... . 112%-112¾ - •.. 115¼-115¼ Ll5 -115 115½-115¼ l18¾-116Y, 18 -118½ L18½-118U 116%-117 .... - . . . - ••. 112 -112 72!4- 72 ,_ - ••. . 120½-120¾ 119½-119 >'! 119¼-120 120 -120 113 -118 107¼-107~ . . • - lla},:(-114 113 -114½ 114¾-114½ ... . - - .. .. 108¾-108~ 106 -100 lll¼-111}1, . • . - l ll¼-111¼ 111,a-lll¼ 10i -107 108½-108¼ - .... lll½-111¾ - ••• 94½- 91~ . .•• - .•. 91'.¾- 9i¼ - •.. . 112)4-112¼ - •.. . lll¾-111¾ . ... 117 -117 05'.}s- 95)) 94¼- 94h 05½- 9B 95¼- 96 110:1(-110¾, 119 -118¾ ll6 -119 118¼-119~ llB¼-120¼ .18}{!-120 85 - 85 90 - 91 ¾ 95 - 05 97 -100 92 - 92 06 - 96 lll½-111½ . . . • - .... 97½- 98 89½- 89½ 81 - 82 106 -106 113 -113 \., ..• - .•. . 106 -106 - .... 97¾- 07!¾ 97¾- 98 89½- so,, 89½- 89½ 90 - 90 81 - 82¼ 82¼.- 82,½ ... . 111 -111 1167,(-117¼ .... - .... 113½-113½ ll4¾-114,t lli½ 115 . . .. 97 - 98 07 - 97 90¼- 90½ 9) - 80 83M- 90 oo - 90 79¼- 81¾ 80 - 82 8) - 81¾ 95 - 95 88 RA~LROAD AND MISCELLANEOUS BONDS. 19 06-Continu ed. BONDS. JANUARY FJ:BR1RY MARCH. APRIL. MAY. JUNK. JULY. - - - - - -· ----1·----1 AUGUST. SEP'TBER. OCTOBER. NOV'BER. DEC'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 Uls. & Del.-lst, con .. ~ .... - ... . 112¾-118¾ ..• - ••• . 110¾-110~ •••• - •••• 110 -110 .••• - •• 111 -111 .••• - ••••..•• - .... 112 -1123-{i 112 -112 lat, re,und., 19~:I . .. 4, 98 - 93 · .... - ........ - ........ - •••..••• - ••••.••• - •••. . .• - • •. . 94¼- 9~ 93 - 98¼ .••• - .... .... - .... . ... _ •.•• Onion Po.cUlc-194'7 .. 4 104¾-1~ 104¾-105¾ 104~-105 100¼-1053' 103¾-105 10,~-106¾ 102M-100½ 103 -1~ 102¼-10~ 102% 103~ 102~-104 103 -104 Retrlstered ........... 4 105½-106¼ 104½-104½ 103¾-104¾ 102¼-105 108¼-104 •••• - •••• 101¾-10~ lOlM-103:l,(102~-103 102 -108¼;102 -102 10~-102~.t lstlleo,conv., 1911.4 147½-168¾ H9 -157 152¾-15~ 146¾-160¾ ... - ... . .... - ........ - ....... - ... . ... - ........ - •••. ..•• - •..•.. _ ..• Reelstered .. ..... .... 4 . . . . - . . . . . . . . - . . . . . . . - ... . 146¾-149¼ . . . • - • • . . . • .. - • • .. . . . - . . • . . . .. - .. • • . . • • - • . . . . . .. - • . . . • ... - •• Or. RR. & No.v.,co n.4 100'4-101½ 100¾-101¾ 101 -101~ 100¾-102 1003,i:-101¼ 99¼-1~ 100¼;-100~ 100¼-101¼ lOQ¾-101¼ 1()0¾-101~ 101 -101¼ 98¾- 99¾ Or. Bhort Line, ht .. 6 125~-126 1223,a-123¼ 121 -122 122 -122½ 122¼-123~ 123¾-124 123M-124~ 120 -120¼ 121~-122 121¾-123 l23~-12J¾ 122~-123¼ Or. S. Llne,lst, cons.:J 117 -118½ 117¼-118¼ ll7 -118~ 116½-116½ 117¾-119 118¼-119 116¾ 116¼ 116 -116~ 116 -117~ 116¼-117:J1; 116 -116½ 115 -1161,4 Guar.refnnd.1929 .4 95):(- 97½ 96¾- 97¼ 95¼- 96\14 94¼• 96~ 94M- 96 94~- 96¼ 94.¾- 95~ »4¼- 95~ 94¾- 95 94¾- 95i!-4 95¾- 97:J4 93~- 9!M Realstered ......... 4 .... - ........ - .... .... - · ... . .. - .. . ..... - .... .... - ....... - ... .. - ........ - .... 94¾- 94¼ .... - ....... - .. .. Utah & 1' or., 1st .... 1 105½-105½ .• - • . . . ... - .... . .. - .... .... - •• .. . .. - ........ - .... 105 -105 .... - •••..••• - ........ - •••• .•• . - ... . Gold, 19~6.......... ~ .. .. - . .. . .. - ....... - ....... - .... .... - .... 110 -110 . ... - ... .... - •••. .••• - ... .. ... - .••....• - .••. . ... - .•.• Vandalia, con sol., I(••• 4 104:¼-105 102¼-103 .•• - • . . ••• - • • . . ••• - •.•. . ••• - ........ - ........ - •••• . ••• - ........ - ........ _ .. • . . •. _ •••• Vc·ra ( ruz&Pac.lst.4½ . ... - . . . .. - ... .. ... - ... .. ... - ....... - .... .... - ........ - ... .. ... - .... 98 - 98 ..• - ........ - ... .... - ... . Vo..&S.\\'.-lat,11:u . . ~108 -112 .. - .. . .... - . .. 112½-114 .... - .. . .... - •.. . .•• - •.. . ...• - •..•.••• - .... 114 -114 lt4½-114~113¼ ·113~ Wabash-ht, 11r.1939.~ 115~-116¾ 115¼-116¼ 115½-116¼ 115 -116¼ 112¾-114 118¾-114 118¼-114¼ 114¼-115 114;(-115 115 -llG 112¼-113~ 112¼-113~ 2d mort., 11rold, 1939.a 107 -109 l0:;¼-106¾ 105 -106 105 -105¼ 104 -105 104~-107 106 -107¾ 10!¼-105 104 -105 lOi½-106 104½-105¼ 10-l~ 105¼ Debeo.lnc., 1 939, A.ti 87¼- 91 90 - 95 .. - . . . . .• - . •. 93½- 94 05 - 98 .... - . . . . 94 - 96 •••• - . . • . • • - • . • 95 - 95 ..• - ...• Deb. Inc •• 1939, B .... ti 73½- 7~" 76¾- 85 79:J.(- 83 72½- 82 73¾ • 82¾ so - 86¼ 77¼- 82½ so - 88¾ 78¼- 82 79 - es~ 79 - 81¾ 7! - 80.li Certfs of deposit..... . . . . . - ... . •... - . . . . . . . . - . . .. . .. . - . . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . - . . . . . . - . .. 71¾ • 7d lat lien equipment ... ~ .. .. - ....... - ....... - ........ - . ... .... - ....... - ... . .... - ........ - .... 100 -100 ... - ... .... - •.. . 101 - 101 1st lien terminal ..... 4 . ... - .... ••·· - . . .. 93 - 98 .... - .••.••• - ... . . ... - ........ - •••..•.• - .... . . - ......• - ..•..... - .... - .. .. D. & Cb. Ext., 1940.~ 108 -108 lOS¾-109 ... - .... 109¼-110 ..•• - .. . 110 -110 ... - ....... - •• •. 109¾ 109;14 ..• - •.• . 111 -111¾ ... - •... Omaha Div., 1941.3~ .... - . .. 85 - 85¼ 85 - 85 81 - 8! 85½- 85¾ •. . - •... .. - ........ - ........ - •.• .. ... - ... .. ... - ... . . .. . Tol.&Chlc.Dlv•... .4 .. . - . .... . .. - .. . .... - .. . ... - .. . . .. . - .. . .. . - ... 92 - 95½ 94¾- 94¾ .. . • - ... ...• - ... . . ... - .... 9"3._- 93 Wo.b.-Pitts. Ter.-lst.4 86 - 90¼ 88½- 90½ 81¾- 89¼ 83!'1- 85% 82¾- 85¼ 83 - 85 88 - Si¼ 82¾- 88¼ 82:J,t- 83 80~- 88¼ 81¾- 83 78¾- 80¼, 2d, cold, 1954 ....... 4 84¼- 41 ¼ 8 , ¾- 40~ 37~- 40 35 - 38¾ 85 - 37¼ 37 - 4.0½ Sa¼- 88 85¾- 37>{i 85 - So½ 34 - 86 83 - 85 32 - 33 Weat. Mo.rylo.nd-ht.4 86¾,- 88~ 87½- 89½ 1:17 - 88¼ 84 - 86~ 84},lj- 87 84¼- 87 83:l(- 8d 84 - 85 St¾- 84'½ 8~¼- 84 83 - 54½ sa - Si Gen.&conv.g,19:)2.4 69 - 75½ 74 - 76¾ 74 - 75 71½- 74½ 71 - 75¼ 72 - 76 72 - 72¼ 72 - 72~ 72 - 74¾ 70 - 71 71 - 72J,4 68 - 71¼, W .N.1'. .&P.-lst,'31.:J 117 -117½ ll7¼-lli½ 117½-118 117¼-117¼ ll6¼-116¼ ... - •••...• - ••.. IU -114 115 ·115½ L15~-115¾ l15;14 116% 116 -116¼ Gene ral, 1943 ........ 4 97 - [,7iH, 97 - 97 ..•• - .... 94>ii- 94¾ 95 - 95 .•. - •.•. . ... - . •.. 94 - 94 95¼- 95½ 08¾- 98¾ 92¼· 95 . .. - . .• Incomes, 1943 . ...... . 5 80 - 80 ..•• - •.•. . •• - . . . . 81 - 81 80 - SO . .. . - ........ - . ....... - ..•. . ..• - ....... - ..... . - ...... . - .. .. Wf'st Va.tJen.&P.lat.ti .... - .. . ... - .... . ... - . . ..... - .... . .. . - ... . 109 -J()9 - . ... 106¼ 106¼ ... - . .. .. - ••• . . •. - •••. . ..• - ... . Wheel.& L.E .-lst ... 6 ll4 -114 . ... - ..•..• . • - •••..•• - •• . ... - ..•. 112 -112 112!'4-112~ . . . - . . .. .. - ... . ... - ... . ... . - •••. lOll¾-109¾ Wheel. Div., 1st...... :) .... - . .. . ll~¼-112½ ...• - . . . . . . - • ... . . - . • . . . . . - . . . . . . , - .. .. .... - .... .... - . . . . .. - ••...• •• - •• •. LIO -110 ht cun., 1949 ... .... .. 4 91 - 98¾ 92 - 98¾ 90 - 90~ 89 - 90 87¼- 89 88¾- 90 88¾- 89¼ 8~½- 88½ 87 - rl8 86 - 811¼ 8/J½ · €6¾ · - ...• Wlscon. Ceo. Co.-J ■ t.4 ~2 - 95 92¾- 94 92¼- 93¼ 90½- 93 90½- 92¾ 91¼- 92½ 80 - 00 897'- 90¼ 69¼- 90» 89¾- 90¼ 90 - 90¼ 89 - 90~ STREET RAILWAY. B'klyn Rap Tr.-'4~ .. ~ 107~-1C9 108 -108J.fi ... . - ... . 105¾;-107 106 -100¾ 105¼-106 105 -105 104¾-105¼106 -106 104:111 -106¼ i00¼-105¼ 105 -105 ht, conv., !l002 ..... 4 95½-100 95 - 98¾ 93¼- 98¾ 94¼- 99 13}4- 93¼ IJ5~- 98¾ 92 - 95½ 93 - 96 93¾- 94¾ 9J¼- 96 04 - 05% b2¼- 94¾ n ·klyo c., 1.st, cons .. /i l06¼-106x 106½-106½ 1063,a-106¼ 106¼·106~ 106 -106 107 -107 .... - ... . ... - •...... - ••• 103 -105 .. .. - .. . .... - ... . B.Q.C. & s., con. au.;') .. . - .... 102¼-108 . ... - .... 104 -104 100 -100 100 -100 . . . - .... . .. - ......• - ••. ,00 -102 . .. - ....... - .. .. B'klyn Un. El.,lst.4-.i lll½-113¾ 108½-110½ lCS½-lOJ½ 107¾-109½ 107¼-109 108 - 109 108 -109 105¼-107 106 -106½ ,06¼-103¼ 106¼-108¼ 101 -107~· 8tnn1petl gunr . . 4 -a . . .. - ... 110 -110 . ... - ... . .. - . . - . . . . .. .. - . .• . .. - . .. . . .. - .•...... - . . . . .. - ... . . . •• - •.•..•. - .• Kings Co. Elev., 1st 4 95 - 95 9J - 90 .. .. - ... . ...• - ... . 1:11 - 91 . .• - . . . . ... - . .. . . .. . - .•.. 91 - 91 ... - . ... . . .. - .... 88 - 90¼, ~tamped 11roa.- .. .. . 4 95 - 96¾ . . . . - . .. . 92 - 93 91 - 92¾ 89 - 91¼ 91¼- 93 92 - 98½ Ill - 01 90½- 92 00½- 90¼ 89½- 91 89 - 89}( Na8sau E lt'c., 11rnar . . 4 88 - 89½ 88¼· 89½ 88 - 89 88 - 88X! 88 - 88 87¾- 88 86 - 86 85 - 85¾ 85¼- 86 85½· 86 85½- 86 84¾- 85¾ Uono.Ky.& Lt.-lst.4}! ... - ....... - . .. 102 -102 .... •. . - ......•. - ........ - .•.. . ••• - •... .. •. - ••. . ... 108¾-108¾ ' - .. .. Stamped auo.r .... .. 4;, 100¾-102¾ ... - ... . 101¼-102 W2¼-102¼ ... . - . . • • .• - ..• .. ..• - .... . ... - .... . ... - ..• . 101¼-101½ l02¼-103¾ 103¾-104 Detroit Unhed-lst .. 4¾ 94.¼- 95¼ 95 - 95¾ 95½- 98½ 95 - 96½ 94¾- 95½ 91.¼- 96 93)4- 94½ 93¾- 94¼ 93½- 94 98¼- 93.>4 ••• - • .. .... - ...• Havana 1:lec.-191)2 .. ~ 95 - 95¾ 98¼- 94½ 94 - 95 93¾- 94¾ 1!3½- 9! 93¾- 94 92¾- 94 92¾· 92~ 02 - 02 . ... - . . . . 92½- 02¾ \JU.(- 92¾ lnterboro-1.l'Jet.,coll.4½ .... - ... ... .. - .. . . ... - . . . 87¼- 69¾ 86 - 90~ 833'- 89:J,t 80¾- 85¾ 887k 85¾ 8$%- 85¼ 82¾- 84¾ 81¾- 82~ 79¾- 82 lnte1•n 'I Trac., col.tr.4 .... - . ... . .. - . ...... - . .. . .. - ....... - .... 84 - 84 70 - 81 79;1:(- 81% 79¾· 79¾ . .•• ... • - ....... - . .. , lUanUa Elec., 1st ... .. . ~ ... - ... . .... - . .. . .... - ... . - .... 98 -100:½i ..• - ... . .... - ....... - ........ - •.••..• - ..... .. - ... . ... - •••• M.etrop. St. Ry., iren :i 112¾-117 Ul -114 111 -111~ 110 -110½ 110 -111 111 -111¼ 110 •111 108¼-108½ 108 -108½ 108¼ 109¼ 108 -108½ !07½-108¼ Refuodioar, 2002.. ... 4 90½- 92 90¼- 91¾ 88 - 89¾ 86 - 88 83 - 87½ 84¼- 86 83¾- 85 8l - 86 85 - 85¾ 88~- 85¾ 83¾- 85 84 - 84¼. B'y & 1th Av ,,1943. :l 116¾-lH'¾ 116 -116¼ 116¾-116}.i ll3¼-114~ 112½-118¼ . •• - •. .. 110 -111½ 110 -110½ 110 -111 112½-112½ 113 -113 110 -110 Col. & 9th Av., lst .. O 119¾-119~ .... - ...... . - . .. . 115 -116 114¾-114½ . . . . - .... 113 -118 116¾-116¼ ... . - .... 115 -115 .•.. - •... 113¾ -113¼ Lex. Av. & Po.v. F .. :, .. .. - . ... ... - .... 116¼-116½ 115 -115 118½-114½ .. .. - .•.. 112¼-112½ 115 -115 112 -112 113~ ·113¼ ... - ... 118¾-118¾ 3dAv.,lst,au.,2000.4 94 - 95½ 921)4- 94¾ 03 - 94 92¼- 94 02¾- 93 93 - 9!!¾ IH - 92 91 - 91¼ 90,.{- 92 90¼- 91¾ 90 - 90¾ l! O - 91 1st, 1937 ............. :. 119 -119 118¼-118½ 118¼-118¼ .. - •.•. 118 -118¼ 116:k,-118 115½-115½ ... - ... 116 -116 .... - .... 115½ ·115½ 116¾-116~ lllet. West Side El •. ,.,4 .... - .... . . - ........ - . . . . .. - ... . ... - . . .. .... - .... 98½- 93¾ . .•• - •••• .•• - ........ - •••....• - ....... - ... • Mil. Elec. Ry. & Lt ... n .... - ........ - ....... - ........ - .. .. .... - ... . .... - .... 109 -109 . .•. - ..• .. .•• - ••.. ..• - .•. . ... - .. . . •. - ...• llllnof' o.p. "t.1.st, con. ii ... - .. . 107½-107½ ..•• - ... . . .•. - •.. . .. - ..... •• - •... ..• ..... - .. . ..• - .....••• - •• . ... - .... .•. - ... New u rl. Ry. & L .•.. 4 ½ ... - .. . . ... - ........ - ........ - . .. . ... - ... 92 - 92¼ 89¾- 89¾ 90 - 91 90¼- 91 ••• - .. . . .. .. - ..... . - . ..•. St. l' aulC,Cahle,cons .5 ... - ... . - ... . . ... - ... ... - .. . . .. .. - ... . .... - ... . . . - .... .... - . ...... - ........ - .... llO½-llOJ.!i .... - ..• • Undc1·1rr'nd El. Rys. ol London p.-oftlt-ah'ar.. O 96¼- 98¾ 97¾- 98¾ 97½- 98½ 97¾- 08½ 97¼- 98¾ 95¼- 96~ 93¼- 95¼ 94¾- 95¾ 94¼- 94¾ 94½· 96 94¼- 95~ 92 - 92¼ Oohed Rys,,St.Louls.4 Sb¼- 88J.i, 88 - 88 88)!.- 8SJ.i, ... . • ... 86¾- 88½ 88~- 88¼ 85¾- 85!Jt ... • - •••...• - .. . 85¼ - 86~ 86¼- 86½ •.. - .•• • 1!41. Lou. 'l'r a os., Imp.~ .... - . . . . ... - ........ - . . . 96>1,- 96.l,f, ... - . ... ... . - .. . . . .. . - .•.. .... - .....•.• - •. •. .. •• - ... . .•.• - .... . . . - . .. . Oniled RRs., So.n Fr. . 4 87¾- 88¾ 88¾- 90 87¾- 80 71 - 85¾ 76 - 79½ 78¾- 80½ 79¼· 84¼ 83 - 84 88 - 85:Ja 83 - 84¾ 88 - 88¾ 82 - 88¼ GAS AND ELECTRIC. Brooldyo U. Gas-1st~ Buffo. lo Gas-lst. ....... o Con so l . Ga11 (N. Y.)Conv deb. 1909 .. .... ti Del. \.:it)' Gas, 1923 ... l) Detroit Gas, 1918 . ... . 0 Gen • .Klec.-Deb., g •.. 3x Uud.Co.Gns-lst,'49.5 K. C. (Mo.) Gas.-l•t .. a li ina-s ()o.EI.L.&.PowPurchase money .... L Ed. El. Ill. ( B'klyn) .4 Laclede Gas-ht, a-•. •. ~ Refuod.&ext.1934.a MUw. Gas-L.-ht . . .. 4 l\. Y. El. Lt. H. & P .. . 5 Pnr. moo. col. tr., g.4 Edis. El. 111., lst,'l O.ii lat, co n&., 199:i, ir .. /i N. Y. & Qu. El.& Pow.Coo ., aold, 1930 ... . .. 0 Pcople'l!I G. L. &· Coke'1st, con., Ir•• 1943.... ti Reluodloa, 1947. t Ch~ G,-L. & C., 1st . . /l Con. Gas, lat, 1936.ii Un on El. L. & P.-lst t ~~stc.iester Lh1ht .... a https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis US -US½ 113 -113% 110 -112 79¼- 80¾ 79¼- 80 73 - 79 159 102 .... 88 111 -112 'i5 - 70 -16'.i!J,4 150)4-167¾ 143¼-152½ -10::l 102 -108½ h ,2¾-103¾ - . .. .... - .... ... - ... . - 88 86¼- 89¾ 88¼- 90 L37 -146½ 103 -108 . .. - .. . . 8~¾- 88½ ... - . .. ... . - ... . .. - ... . 108¼-108½ .... - ... 95 - 95 . ..• - ... . .... - .. . . 108¾-lCO 70 - 74 138¼-145½ 143 108 -10! ll 8 .... - .. . .. . . . ... - ••.. O:>. . .. • - . ... 105 .... - .... . ... 121%-121¾ 121 -122 •. - ... .... - •... . ••• - ... . . . - . . . .. . . - . . . . 93½- 93J.t . .. • - . . . . . .. - • • . . 107¼-108¾ 107 -107~ 107 -107!1 l07 -107½ 1.04 -10i\l:t .. . - ... .... - ... . ... - ... .. - ... 103¼-108½ 93 - 93 . ... - ... . 94 - 94½ lli½- 94½ 98¾- 93¼ 108¼-109'4 . . •. - • . . . 107 -107 107¼-107¼ 107 -109 90¼- 92 89 - 90 Bi½- 88½ 86 - 88 86½- 88 10'1 -10!¼ 104¼-104½ 102 -102½ t Ol¼-102¼ . . . . - . • • . .. .. - .... .. .. - ... 115½-117 118 -118 . ... - .... 102}(-104½ . ... - ... .. •.. - . .. 109 -109¼ 107¾-100 rn¾- 71 70½- 71 - 150½ - 10! - . ... - 90 -105 - ... . . •. - ••• . • •• .. 10!¼-106½ . • - •.•. 93!,4- 93!4 105 -106¾ 87 - 88 . •. - . . . . llSM-118),( 107 -108 106¼-107 108½-109 105 -106 70 - 72¾ 70 - 70¾ .... - ..•. 63 - 67 1()5¼-105¼ 63¼- 64½ 13'7½-142 189¼-143 138¼-141¼ 188 -143 188 -140!,t 138 .. . - ..•. 102¼-102¾ 101 -102}4 ... - .••. 101:>tj-101¾ 101 .. - ....... - .. .. 100 -100 . ... - ..•. 101½-101½ .••• Sll}li- 893,a ..•. - •... 88 - 88 87¼- 87¾ . ... - .. .. 88 . . .• - ......•• - ..•. .••• - ••. . 106½-106½100¼-103¼ .. . • 98 - 93 ..• - •••...•. - ....... - ... . .... - ••• . 98 . •• - .•. . . ••• - ........ . . • . - . . . . . . .. - • • . . . . . • 105~-105¼ 104 -104 103 103½-104~ . ... - ..• . 102 ...• - . .. . 93~- 9i . .•. lu5 -105¾ 105½-105½ 105 86¾- 88 84¼- 86½ 84 . . . • - •.. . 101~-101¾ 100 - ... .. ... - •....•• . •• - •.. l OQ¼-101¾ 101 -101½ 101 -101 -141;( - 101 - .. .. - 88 .• - 98 - • . •• ., . - .... 117 -117 ... - •••• - . . . . . . • • - . . • . . . .. - . . . . . • .. - ••.• -103~ 104¾-105 108¾-lOi ¾ 102¾-104~ -108¾ 101 -101 .. - •... 102½-102¼ - •.. . 9i - 94 .. . . - ... 95 - IJ5 -105½ 105 -105½ 105 -105½ 102 -103 - 85¾ 85¼- r,7 85 - 86 83 - 85~ -100¼ lOQ¾-101~ 101¼-101¾ 101 -101 - ... . . ... - •....••• - •.. . .. - .••• ... - ........ - •••. 98 - 98 .... - •.•. 98~- 98¼ :.. 122 -122 123 -128 tOi¼-lO;¼ ..•• - ... 107 -107 - .... ... - ... . 108 -108 l28 -123 117 -120 104¾-104¾ 103½-104:)4 • .. - . . . . ... - .. . . .•• - .. . .. - . . . 117¾-120 . ••• - •.• . .... - . ... . .•. - ... . 120 -120 105¼-106 107 -107 105 -105 . •• . ..•• .... ... - ........ •• •.• ••• .. .. .... ........ - •••..••• ........ .. . ..... ••••.••• - •••. . ... - •... . •• • •••. 101½-102 .... ••• . 104 -106 .... ....... - ........ - .... 117 -117 ........ - •.•• •••. . .•• - ... . .... .. .. - ...• ............ - ... • .. . - ... .... - ... .... - ... . .... - ...... .. - ... .. ••• - ........ - ... . .... - .... .... - ... 9'! - 98 - ... . 108¾-108¾ 106 -107¾ 106¼-106¼ .... i,.,; •••• .••• - ....... . - .... . ... - ••••• • •• - ....... - •••• •• • - •••• 101¾-101¾ 89 RAILROAD AND MISCELLANEOUS BONDS . • 1906 - {Jon c lude d . MAY. APRIL, JANUARY FEBR'RY. AUGUST. :-l!;_PT'BER. OCT0B11:B. NOV'BER. JULY. JUNE. n11:c'e R. MARCH. ---- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - · ---- - - --TELEGRAPH Am. T e leph . & Tele ,r.4 94¼- 95~ ... - .... .. - . .. .... - .... .... - .... .... - .... 90%-l/O!HI .... - .... .... - ... 91 - 91 91 - 92 011).!- 91,t .... - .... ... - ... ... - .... .... - .. ... Co mmer'I C.-ble , 1st .. 4 98 - 98 97 - 97¼ 97 - 97 · ••· - .... .... - . .. 96½- 96½ .... - .... ... - ... . ... - .... .... - .... .... - .. . .... - ... Mich. State Teleph ... . : .... - ... . ..... - ... . ... - . .. 101½-101¼ .... - .... .... LOS · 104¾ 105~-105~ 105¼ 105).1. Ol~-105~ B ONDS. ------ Low.High r,ow.Hlgh Low.Hhrh Low.High 1,ow.Htgb Low.High Low.Hiirb Low.Hl1rb Low.High Low.Hhrb Low.Hlll'h Lnw.Hi gb · ••· W. Union Tel.-1938.. :i 1073,s 109¾ 108 -108~ 107½-109½ 108¾-109¼ 109¾-100½ 107¼-lO l½ 105¼-106½ 104¾ 105% Fund. & R. E., '~0.4½ 104¼ 105 104M-105 104¼-105 104¼-106 102 -104 102~-103¾ 102¾ 103" 102¼-103~ 101¼-104¼ 101¾-102¼ 100~-101~ IJl/19-100¾ . ... . .. - . ... 106½-106½ .... - . .. ... - ... Mut. Unle n Tel.,•• t.6 107 -107 ... MA '(UFACTURING A , D INDUSTK.1AL . Amer. Cot. 011,191~.4½ Am.Blde&Lea.-lst.6 Amer. Ice Secor., deb.6 Am. Spirits Mfa-.-lst.6 Am. Thread-1st coll .. 4 Amer. Tobacco, 1944.6 Rea-l ■ tered .............. 6 Gold, 1931 ............. 4 Rea-18tered ..... ..... .4 Bethlehem Steel. ...... :) Cent Leath'r, 20 . yr,a,:i Consol. Tobac., ~0-yr.4 Dl8t. Secur.Cor.-lst.:i Inaer11011-Rand-1st .. ~ Inter n' ) Paper-18t .. . . 6 Cons., conv., 193~ ... ~ Int. Steam Pump, '13.ti Lackn. Steel, let '23.. ~ Nat.Starch M'f'a--ltt.6 N.Starch Co.-S.f.deb.:i Republi c Iron&Steel.~ Stan. Rope & T.Incomes, a-old, 1946.:i U.S. Leather-Deb.e.f.6 U. 8. Realty & Imp ... ~ U•"'• St. Corp.-1963 .. /l Re:zl11tered .... ......... ~ Va. -Car. Chemical , ... :i We&t. El.& Mfa-,conv.:i MISCELLANEOUS. Adams Express-Coll.4 B'klyn Fer., 1st, cons.:i Det. M.& ill. L. G.-Inc. N. Y. Dock-:iO-year .. 4 Provident Loan,'21.4½ U.S. Red. & Reftn•a-,.6 COAL AND IRON. Col. F. & 1.-Gen., 8.f.l) Conv. deben., 1911 .. ~ Gr'dRlv. C.&C.lst.6 Col. Jnd., 1st, conv.A.~ 1st, coll. tr., 1934.B.~ Kan.& U . t ·.&C., 1st~ Sund~y Cr , ek Co., . .. ~ l'enn.C. I.&U.y.-Gen.~ Tenn. Division ....... 6 Blrm. Div •• 1st, con.6 De Bard. C. & 1.-Gu.6 Vn. fl'OTI c. & c.-1 st .. ~ 97 - 98 99 -100}8 87 - 93 102 -1G2¼ P.0¾- 90)! l14¾-117 115 -115 80J.(- 84 80 - 80~ 96 - 97¾ 90 -100!,,ii 91!4- 93½, 102¼-103 ··• - .... 115¼-117:!,t 116¾-116¼ 78 - 81)4 80½- SOJ.!? .... - .... .... - - .... ... 96 - 97 96 - 96!{ 91¾- 1)4 100~-103¼ 96 - 96 95 - 96].9, 90 - 92 10~ -103 ... . 91¾- !ll~ 115¾-117 112¼-114!,,ii ... Ll3½-113½ ·• 73¼- 80 78 - 80¼ 79¼- 79¾ 77½- 79¾ .. . ... . .. - ·•• · .... - ... ... .... - .... .... - .... ... - .... .... - .... ... - .... .... 95¾- 96 00 - 91 90¼- 91 89 - 90¼ ~-90J,( 10! -104 103 -103 . 83¼- 88~ . ··•· 112 -114!4 111½-lU¼ 110 -113 lU -114¼ 112 -112 78 - 79~ 77¾- 79~ 77 - 79¼ 77½- 79>{i 78¾- 76¾ 7~- 7i½ 94¾- 95~ 90),4- 93¾ 88!4- 90¼ 011 -102½ ... - .. .... ... - .... - .... ... - ... ... - .... 100¾-102½ 1013,(-102 l Ol¾-101'¼ 97¼- 99:¼ 96¾- 99½ 98¼-100 98¼- 99¾ 80¾- 83:J( 78½- 81¼ 78¾- 80 78¼- 79¾ 78J.(- 80 77¾- 79¼ 77¼- 78½ 82!4- 8."i~ 85 - 88¼ 87 - 89½ 83¼- 86¾ 81 - 90 85 - 86½ 85¼- 90 .... - .... ... - . ... 109¾-110¾ 97 -100 101¾-102~ 106),(i-108¾ 85 - 9~ 75 - 77 1077k108¼ 97~- 98½ 103 -108 107 -108½ .... - ... .... - ... ... - ... ... - 103 96 103 105 93 75 -109¼ -117~ -103 -107 - 93½ - 76 109 -109½ 96 - 97 103¾-103½ 103 -104¾ 93 - 9J½ 78 - 78 108 -109¼ 86 - 98¼ 103:x(-103½ L02¼- 104¾ 90 - 90 74 - 75 .... - .... ... ... .... .... ·•·· ... .... - ... ... .. - .. .. .... 109 -109¼ 109 -109~ 96¾- 97½ 94¾- 95 101¾·104!}Q - .... l03¼-105 103¾ -104¾ ... 94 - 95l)f. 96~- 97 94 - 9i 80¼- 91x, 81:) - 91¼ 89 - 90 89 - oil¾ 9U¼ · 91 89 - 91 89 - 90 87 - 90 88¾- 93½ 92!4- 93 98 - 98 101 -101 101 -103 101 -101¼ 90 - 90 - . 91 -91 91¾- 9~ 91 91¼ 112 -113 112 -112½ 109~-111'4 109½ -11011, 109 -110}4 103%-109¾ 109½-109 . 109 -109 · ••· 76J.(- 78· 76}8- 79 76½- 79 77!,4- 78~ 77½- 80 - ... . 77J.(- 77~ 79 - 79 78!,4- 781,t 'i7 - 77 96 - 96 . - . .. 99 -100 118 - 99 93 - ll8¾ 96½- 98~ 98¾-101 'i7¼- 79 77 - 77~ 77),(- 78),{ 77 - 78½ 76½- 78 87 - 89½ 88¾- 91½ 86¼- 89],i 86%- 88 88¼- 88 - . 07½- 9U 93½- 9::l:),f 9S¾- 99 - .... 107 -107!>9 105¼-107 106¼-107 106 -107 1C6¼-107 9i - 94½ 94¾- 91½ 13¼- 94¼ 92 - 93¾ 92 - 92½ 103 -103 .... - •··· 101 -101½ 101¾-102 102 -102¼ 103¼-104 l01¼ -105x, JOJ¾i-103½ 101'¼ 102½ 101½ -102!,6 89 - 89 86¾- ti9½ 78 - 81 80 - 82¼ 78 - 78 72¾- 78 74 - 74 98 - 98 . - . 98 - 98 92}(- 98 96 • 97 ... ... .... ... .... ... ..... ... .... .... - .... .... - .... .... - .... .... - ... . 75 - 77 .... - .... '15 - 75 .. .. - .... 77 - 77 ... - .... .... - .... .. .. - ....... - .... .... - .... .... - ... ... - .... ... .. j 1¾- 2 ½ lM- l¾ l ¾- 1¾ .... - .... ... - .... .... - ... . ... - .... .. - ·•·· .... - ... ... - .... ... - . .. . .... - ..... l0i¾-108¾ 109 -109~ 1081}.! -109 109 -109½ 107 ~109½ .... - .... 109¾,109¼ .... - .... . ... - .... .... - . ... 105½-106 105 -105!4 {15½- 97½ 95 - 97½ 94 97¾- 99½ 97 - 9i¾ 9 ,J,(- 97 91 94 - V7 90¾- 92 91 96 96),(- 99,¼ 9i7,1i- 90¾ 97!,,ii- 9;},½ fl9¼- 100¼ 95¼- 98½ 95¼96¼- 99% 98¾- 99% 98¼- 99¾ 97 -100¼ 95¾- 98½ 96¼101 -101 101 -101~ . 100 -100~ 100 -100 98¼- .... - .. .... - .... .... - .... ... - .... ... - 104 -104¾ 102 -102¾ 46¾- 49;i; .. 74 - 74 - 95¼- 96½ 95¾- 95¾ .... 99 - 99 100 -101¼ 99½-100~ 98 - 99½ 103J,(-104¾ 68 - 58 78 - 78 g7 - 98 .... ... - ... .... ·•• · ... - ... 102;14-103¾ 102¼-108 ... - .. . .. . . .. - ··• · ... - .... 92 - 93 96~- 98¾ 98¾- 98¼ 97'¼96¾- 98¾ 98¼- 98¼ 9 :¾100 -100 100 -100½ 09¾- - .... .... 102¾-103 47 - 47 - 70 - 95¼ 94¼- 94¾ - 99 -102 101½-103 .... - .... 70 95¼- 95¾ 94 . 99 1:19 -102 95 · •• 98 99 IJ9¼ 98¾ 91½ - 95¾ 98~ 98¾-101¼ 97¼98¾ 9i¼-100}.6 97}.i9&¾ 97 - 97½ . 98 ··•· - ..,. - . ... .... - .... ... - .... ... 98 98~ 96½- ~7¼ 98¾ 96~- 1,i; . 98¼- 1)9 98,½ 97 - 98¾ .. 103 -103½ 104 -104½ 1oi -10~¼ 102J,(-10~ 102½-102¼ 102¾-103 .... - ... . .. - .... .... - .... 41 - 41 ... - ... .. . - .... .... - ... . ... - .... 6~'¼- 6911; 70 - 70 - . ... .... - .... .... - . ... 93¼- 95 9:l½- 95 94½- 95 94¾- 95 93 - 94¾ 93¾- 94 .... - .... .... - ... . ... - .... . ... - .. . . ... - . ... .... - .... .... - . ... · ••· 99 - 99¼ 98½- 99 ,02¾ -103½ .... .... .... .... 100 -102¼ .... - .... 91½- 91~ .... -- .. .... -- .... ··•· - ... ·•·· 88 ... - .... ... - .... 102%-102¾ ·•·· - .... .... - .... .... 76!,t- 80J.{i 73 77 97¾- 97l,ii 97 - 97~ 96 - 97 97 - 97 97¾- 97~ .... - ·•• · 97½-100 99¾· 90½ 99¼- 99¾ .... - ..... .. - .... ... - .... .... - .... . ... . ... .... - ·•• · - .... ... - .... .... - ... .... - .... .... - .... . ... - . .. 78 - 89½ - 80½ 71½- 79 - 84 75 - 771}.i 74½- 75),(, . .. - .... .... - ... .... - . .. . .... - .... 76 - 80 78 - 79½ 73 - 78¾ 76¾- 79!>9 'i5 - 77½ 74!4- 77 77¼- 83½ 74'¼- 80¼ ?6 - 79 75½- 77 73 - 77 74¼- 7t:¾ 74 - 77¾ · ·•· - ... . ... - .... .... - .. . . ... - .... · ••· - .... .... - . ... .... - . ... .... - ... .... - .... ... - . .. . .... - .... 105¼ ·105½ ... - ... .. - ... .... - ... . .. - ... .... - ·••· .... - .... .... - .... ... - ... . .... - .. .. ... - ... .... - . ... 6J½- 69,!,4 99%-100 100 -100 97~-101½ 100 -101½ 99 -101 97)4- 97¾ 97 - 98 98 -100 97 - 9i!J4 97 - 97¾ 98¾- 97¾ 98 -10) ll0¼-110)1, 110}8-110¾ tt0~-110½ .. .. - .... .... - .... 109 - 10:J . ... - . ... .... - ... . ... - ... 106 -107 106½-107 108¼-10874 LOJ -110½ 110 -110 109 -110¼ 109¾-110 109 -110½ 107 -111 106J,(-108 108 -108 106¾-107¾ 108¾-108½ 106½-109½ 108 -108¾ .... - ... . 103½-102¾ .... - .... .... - .... .... - .... - ... .... - ... . 100 -100 .... - .... ... - .... .... - .... 102 -102 104 -105 103 -105 91'¼-102¼ 91¾- 94½ 94¾- 98½ 93 - 94 95 - 95¼ 93 - 95¼ 94½- 96 - .... - 88 95 - 97 97 - 98 95½- 95½ 94 - 95 95 - 96 05 - 91) .- 1907'. January February March April May June July Augu$l September October November December Low Hi(Jh Low Hi(Jh Low High Low Hi(Jh Low Hi(Jh Low Hi(Jh Low Hi(Jh Low Hi(Jh Low Hl(Jh Low High Low Htgh Low Htgh BONDS. _____________ ,,____ - - - - - - - - - - - - ----- - - - - ---- - - - - ---- - - - - ---- - - - Ann Arbor--lst, 1995, gold----4 90 18 9034 9012 91 89 8914 86 87 8412 8612 8112 86 8212 85 83 851 2 8478 851 2 84 841 4 72 73 79 79 971 2 94 97 44 50 Atch. Topeka&. Santa Fe.GEmc,al, gold, 1995 _________ 4101 102121007810178 971210114 971210058 9612 9878 9714 987s 975s 9812 95 9858 96 9834 90 96~8 891 2 95 9412 9G38 R,egistered --------------4 101 10134 --- - ---- ---- ---- ---- ---- 9634 9634 97 98 ________ 9634 96-34 ________ 94 94 901 2 91 Convertible, gold, 1955 ______ 4102 10814 102581053s 93121037s 99 103 931410012 9234 96 9312 9612 881 4 951 2 91 9334 81 93 80 87 84-3.; 8714 Convertible, gold, 1917------5 ---- - --- -- - - ---- ---- ---- ---- ---- ---- ---- ---- ____ 100 101 97 1005s 10012102 99511102 891 2 100 !J::Sls !J.:,12 Adjustment, gold, 1995- _- _ -4 92 927s 9012 9134 9118 92 90 9212 9012 9034 86 87 88 89 8718 88 871 2 871 2 801 2 881 4 771 2 . 821 2 8112 s..:1 2 Registered __ . __________ -4 _--____ 86 86 _ ___ _ ___ ___ _ _ ___ ___ _ _ __ _ ___ _ ____ ____ _ ___ _ __ _ • ___ _ ___ _______ _ Stamped, guaranteed- ___ .. 4 92 927s 91 92 90 9212 9014 9212 8634 9034 851s 8714 86 8718 8412 867s 847s 88 77 86 7712 8134 82 85 Debenture "F," 1908--------4 ---- ---- 99 99 ---- -- - ---- __ ___ ______ _ 101 101 ___ _ Debenture "G," 1909--------4 ____ ____ 985s 985s ___________________ _ Debenture "H," 1910-------4 _______ _ 96 96 ____ _ ______________________________ _ Eastern Oklahoma Div .. lst--4 --- - __ __________________ 91 91 93 93 ______ ______ _______ _ Atlantic Coast Line-1st, gold.4 9712 987s 9734 9814 9234 961s 93 9512 947s 96 9478 95-34 9312 9512 89 94a8 87 881 2 841 2 8834 82 85 84 871 2 78 79 76 79 Louisv &. Nash, coll, g, 1952- _4 89 8912 88 891s 8618 88 84 88 8412 86 82 83 84 851 2 801 2 8334 79 791 2 781 2 80 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 891s ____ ____ ___ _ 881 2 8878 _______________ _ Gold, 1948- ----------------41011410238 10114102 991210134 981sl0034 98121005s 9812 991 2 98IslOO 96 991 2 951 2 99 88 971 4 8834 941 2 941 4 971 4 R,egistered --------------4 100 10112 101 10114 10034 10034 98 10038 98 100 98 98 9712 9712 ________ 94, 95 9578 9518 __________ _____ _ Pitts Jct&. M Div---------3 ½ 8912 90 8918 891s 89 89 ________________ 86 86 ___________ ___ __________ 80 85 ____ ____ 8012 811 2 P LE&. W Va System- ___ ._ -4 95 96 9514 9538 93 95 93 947s 9212 9312 9012 92 8912 91 89 8978 87 891 2 85 8919 83 83 85 85 SW Div, 1st, gold--------3 ½ 8912 9012 9014 9034 89 903s 8858 9012 8734 893a 8712 89 853.,1 8714 8512 871 4 8534 861 2 83 861 2 80 833-1 8212 8434 Mon R., 1st, guar, gold------5 _______ _ 1057s 1057s ___________________________ _ Pitts&. W, 1st, 1917--- - --- -4 ---- ____ ---- ____ 94 94 ____ ____ ____ ____ ___ _ ____ ____ _ ___ 8814 8814 ___ _ Buff R,och &. Pittsburgh-Gen-5 1181211812 ________ 1161211612 112 115 1131211434 ____ ____ ____ ____ ____ ___ _ ____ __ _ __ _ Alleg &. W, 1st, guar------- -4 102 102 102121031 2 ____ ____ ____ ____ ____ ____ ____ ____ ____ ________________ --== 98 98 R &. P, Cons, lst--- ---------6 ---- __ __ 12212 12312 1183411834 ________________ 118 118 ____ _ ______________ _ Buffalo&. Susq-1st ,ref _____ -4 945s 9614 96 965s ______ __ 8934 9412 ________________________ 9214 93 ________ 9034 903.; 91 91 ___ _ Can Southern-1st. 2'Uar.. ___ _5 100 10034 10018 10034 100 10034 100141015s 10112 102 102 1021 2 997s 10014 9912 1001 8 100 101 99 101 9878 105 10318 10434 J PM&. Co certificates-- ----- ---- ---- ________________________________________________________________________________ 1003410238 2d mortgage_ - -- _- _- _. ___ . _5 1041210512 10412105 101 1025s 102 10214 1017s 10212 1021s 10214 10214 10212 10134 102 99 1007s 1003410134 9514 991 4 97 99 Cen::f~/eo~!rgj-a-:..=_i'"st=======~ Consolidated, 1945. gold- ____ 5 1st preferred income. _______ 5 Stamped----------------- 2d preferred income---------5 Stamped __________________ 3d preferred income---------5 Stamped------------- -- --Chattanooga Division, 1951- .4 Mobile Division, 1946- ------ 5 Central RR.&. Bkg, Georgia-- --5 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ==== ==== 10934 ==== 11014 ==== 105 iii;- 110 1_1_6_ 108 ==== 10912 ==== 10912 111 90 90 90 90 7312 757s ~~~ ~~~ : 102 ==== 104 ==== :::: ==== ==== ==== ==== ==== ==== ==== :::: 103 104 102 10334 10118 10212 971210212 85 4 3 10212107 ________ 8512 8512 85 8538 85 85 89 89 ____ 85 85 88 88 ________________ 74 76 70 74 _____ ___ 73 73 74 74 7434 7434 74 74 6312 65 ____ ____ ____ 58 58 63 66 6.l7s 64 ________ 62 63 ____ 70 70 57 58 ____ 8512 8512 ________________ ______ ______ ___ _ 70 ____ ____ __ _____ _ 70 70 70 6612 6612 ___ _ 57 50 50 ___ _ 58 50 5712 45 50 ___ _ 58 60 ___ _ ---- 45 ---- 32 ________ ---- ---- ---__ ______ --- - ___ _ ---10612108 105141051 4 ________ 1051210512[1021210212 100 1 10012 1001210012 98 100 ________ 95 95 ___ _ 45 39 39 40 ---- 37 38 ---- 8734 8734 ---- 105 105 90 RAILROAD BONDS. • 1907 - Continued. January February March AprU May I June J uly August September October November D ecember ______ B_O_N_D_S_,_____ ,_Low _ _H_ig_h Low Hl(Jh Low High Low High Low High Low High Low High Low High Low High Low High Low High Low High 1 Central of New JerseyGeneral mortgage, 1987- - -- -5 125 12614 12512126 123121251s 12314125 124 126 12312 12434 122 124 1205s 1217s 11914 11912 118 1201 2 113 119 1161 4 119 Registered -------------- 51241212412 125 12512 12314125 123 123 ________ 1211s 122 1211412114 120 121 11758 119 11758 118 111 112 113 1151 2 American Dock & Impr't---- 51101211034 11034111 ---- ---- 1091g 10912 ---- ____________ 1063410634 107 107 _____ ___ ___ _ _______ _ L & W, mortgage, 1912---- -5 9934 10012 ---- ---- 100 10014 1001210012 9934100 ________________ 9834 991 2 ___________ _ Con ext, 1910, guar-----4½ 100 100 1003g101 9934 100 9934100 100 100 977s 9812 98 99 9814 9814 9714 98 98 981 4 ________ 94 95 Cent Vermont, gu, 1st, 1920-- 4 - --- ---- 8912 897s ---- --- - 85 85 8712 88 ---- ---- ___ _ _ ______________ _ Chesapeake & OhioSeries A, gold, 1908- -------6 1033410334 105 105 104 104 100 10112 ---- ____ ---- --- - 1023410234 ________________ 98 100 ___ _____ 9934 1011 2 Mortgage, 1911----- -------6 --- - ---- 107 107 - --- ____ ---__ 104 104 10512 10512 105 105 ________ 10512106 102 102 ________ ___ ____ _ 1st, con, gold, 1939 ________ 5 115 116 115 11512113121143411334115 110 11112110 1105g 1097gl1034109 11034110 111 1037glll1 2 101 1031 2 105 1081 2 Registered- -------------- 5 ---- ---- ---- ---- ---- ---- ---- -- -- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- -- - - --- - ---- 1011210112 General, 1992- ________ ---4½ 104 10534 1041210512 997s 10234 1003g 103 101 102 9934101 9934 10134 100 10112 97121001s 8912 10014 87 90 90 961 4 R & AD, 1st, con, 1959 ____ -4 991210012 100 10012 98 98 9612 983g 995g 9934 ---- ---- ---- ---- --- - ---- 9412 95 9212 95 ________ 93 95 R & A 0, 2d, con, 1959 _____ -4 -- -- -- -- 0912 9912 9212 9212 -- -- ---- ______ __ 90 90 ---- _______________ _ Chicago & Alton-Ref, 1949 ___ 3 79 80 7812 80 76 79 761:? 7612 7534 7534 ---- ---- 76 76 ____ ____ ___ _ ____ ____ ____ ____ 70 70 Ratiway, 1950- __________ _3 ½ 7334 765s 7234 7412 6734 7214 6812 697s 6634 6914 66 6914 6712 6812 6512 68 63 63 58 64 55 60 5 14 651 4 Chicago Burlington & QuincyOen ver Di vision, 1922------ -4 1001210012 99 99,.14 9912 997s 9914 9914 9812 99 991g 991g ---- ____ 971s 971s ____ 9658 9658 __ ____ ___ __ _ ___ _ Illinois Division, 1949 - ___ _3 ½ 9112 9212 9034 92 8912 91 8912 92 89 92 89 8912 8814 8912 873s 8712 88 88 84 88-34 8212 8412 8412 88 Gold, 1949 __ _____________ 4 100 10214101 102 100 10112 100141021a 1017sl03 10112102ss 9914100 973g10012 9714 99 95-34 99 95 9612 9614 9812 Registered- --------------4 ---- ---- ---- ---- ---- ---- ---- ---- --- - ---- ---- ---- ---- ---- ---- ---- ---981g 981g ___ _ Iowa Division, 1919--------- 5 ---- ---- --- - -- - - ---- ---- -- - - ---- 106 106 ---- ---- ---- -- -- ---- ---- ---- ---- ---- _______ _ Iowa Di vision, 1919 _______ -4 100 100 1001!!10012 10012 10012 9938104 98-34 991g 991210012 - --- ____ 1001210012 ---98-34 9914 96 97 96 96 Nebraska Extension, 1927 __ -4 101sa102 101ss 102 --- - ---- ---- ---- 101 102 100 10012 100 1410112 101 101 ____ 981 2 99 95 95 94 95 Southwest Division, 1921- -- -4 - --- ---- ---- ---- ---- ---- ---- ---- --- - ---- ---- ---- --- - ---- ---- ---- ---- -- - - 90 90 ____ Debentures, 1913 - _________ _5 10212 103 10212 1031g 1023410314 1035g 104 10012 1011s 1001g 10012 101 102 997g 1001g 99 993s 991 2 1001 2 94 94 94 96 Hannibal & St Jo, cons----- -6 1087s 109 ____ ---- ---- ---- 106 106 10534 10534 - --- ---- 1051210512 ---____________ ___ ____ _ 98 98 lhicago & Eastern Illinois Refunding & Improv't------4 ---- ---- ---- ---- ---- ---- 92 92 -- -- ---- --- - ---- ---- __ __ ____ _ ______ __ ______ _ 1 st, sinking fund-----------6 1007g 10112 ________ 1 st, consolidated, gold------6 --- - ---- ____ ---Gen cons, 1st, 1937 _________ 5 11612117121163,1 117 Ch & Ind C'I RY, l st-------- 5 ---- ----1131211312 Chic Ind & Lou-R.efunding ___ 5 126 126 125 126 Refunding, 1947 ____________ 5 1117g 1117s - --- ---- 1015g 1017s 102 1027g 103 103 ---- -- -- ---- ---- 126 126 112 116121121411214 111 11134 -- -- ---- ---- ---- ---- --- 125 126 126 126 126121261? ---- ---- 107 107 ---- ------- ----104121045s 1045g 105 103 103 -- - - ---- 1051410514 101 101 103 10312 103 104 92 9212 9112 92 917s 92 ____ ---- 112 112 112 11212 ---- ---- ---- ----10512105-Sg 110 111 110 1117s 111 112 ---- ---- ---- ---- -- - - ---________ -- -- ---- 1081410814 Lou NA & C, l st----------- 6 ________ ____ ____ Ch Milw & St Paul-Terminal -- 5 1041210412105-34 10614 Gen Mtge, "A," 1989- -------4 106 107 1041g 10612 Gen Mtge, "B," 1989------ 3 ½ 9012 921g 91 92 Chic & Mo Riv Division ______ 5 11212112ss 113 11314 Chicago & Pacific Division--- 6 ____ -- -- ---- ---Chicago & Pac W Di v- _____ 5 110 1107g 11034 11112 Dakota & Gt Southern-- ---- 5 ____ ---- 10634 10634 1st H & D Di vision--------- 7 ________ 1081410 14 1st, 1910------------------ 5 ____ ---- -- -- ---- ---- ---1st, LaC & D, 1919--------- 5 ____ ---- ____ ---- - --- ---Mineral Point Division------5 ____________ ___ _ 10212103 1st So Minn Division---- ---- 6 104 10434 1053g 1053g ________ 1st So West Division ________ 5 104 104 __ __ ---- - --- ---Wis & Minn Division: _______ 5 ________ 11034110-34 1071210712 M & N, 1st, 1910------- ---- 6 __ ______ 1061s 1061s ---M & No, 1st on extension- --- 6•-- - - ----1101211112 --- Chicago & North West ___ ____ 7 __ ______ 1191gl21 ---- ---Extension, 1886-26 -------- -4102 102 ___ _ ____ ---- --- Regi stered- ------------ -- 4 ________ 104 104 ---- -- - General, 1987----- -- - ---- 3 ½ 9734 98 ________ 957g 96 Registered ------------ 3 ½ ________ 95 95 ---Sinking fund, coupon- - - - --- 6 ____ ___ _ ____ Sinking fund, registered----- 6 ____ ____ ____ Sinking fund, coupon------- 5 ____ ____ ____ Sinking fund, registered - ---- 5 ____________ -- -- - - - - -- -25-yrs, debenture, 1909------ 5 100141011210l5g l015s 101 1015g Registered __ ___________ _5 ___ _____________ 101 101 SO-year, debenture, 1921 ----107________ ---- ------Registered ___ _______ ____ 55 107 ______ ___---_______ ---- ---- 1001210012 ________ 102 102 102 102 ___ _ ---- ---- 1281s1281g ---- ____ 12512126 ___ _ ____ 119 119 115 115 ---- ---- 109 . 1111210812)09 1093410934 108 109 102 105 10312107 ---- -- -- ---- ---- --- - ---- ----J ---- 106 106 ___ _ 1241212412 ---- ____ 121 121 ___ _____ 119 1201 8 _______ _ _______ _ 1\lls lllls --- - ---- ---- ____ 109 109 105 10812 _______________ _ ---- ---- 102 10214 1023410234 102 10234 1021 8 1021 8 _______________ _ --- - ---- ---- ____ 102 1027g 1021210312 100 1011 4 ____________ ___ _ 103 1033410114102 101 101 100 10112 101 101 98 100 99 10212 8912 92 88-5g 89 ________________________ 82 82 85 85 111 112 ---- ____ 109 110 _______________________________ _ ---- --- - --- - ---- 104 104 ---- _______________ _ __ __ ___ ____ _ 111 111 109 10912 107 10912 106 107 1061210734 105 106 10534 10634 106 106 - --- ____ ___ _ _ ___ ____ _______ _ 109 109 1051210512 ______________ __ 102 102 ___ _ ---- ---- ---- -- -- ---- --- -1001210012 ---- _______________________ _ - --- ---- ---- ---- 1081410814 1061210612 ---1021210212 -- - - -- -- - - - - ---- ---- ---- --- - --- - 1011410112 ---- ---- 99 99 98 98 1021210514 105-3410534 1051210534 ---- --- - 102 103 10334104 101 104 100 10214 10114103 --- - ---- ---- ---- --- - ---- 1021210212 1021s 1021g ________ 102¾ 10238 101141011 4 1021 2 10258 109 10914 1095g 1095g 110 110 ---- ____ 106 106 _______________ __ _____ __ 104 105 ---- ---- ---- --- - ---- ----- -- ---- --- - 100 100 ----1101211012 107 107 ---____ 105 105 ___ _ __ _ _ ---- ---- 1183gl197g ---- ---- ---____ 116 116 ____ ____ 112 113 ---- ---- 1011210112 ---- -- -- ---- ____ 100 100 9834100 ___________ _ ---- ---- ---- -- -- ---- ---- --- -- -- 97 97 _____ ___ ________ ---- ___ _ ---- ____ 9212 9414 9212 93 9434 9434 ____ _ ___ 9212 9212 90 90 87 90 ---- --- - ---- ____ _ _______________________ ___ _ ---- ---- --- - 106 107 ---____________________ 10512106 ---- ---- ---- 1061410614 ---__________ ___ _______ 106 106 ---- ---- -- -- 107 107 ---- ----1051210534 ---- ____ 1041210412 ___ _ ---- ---- ---- ---- ---- - - -- - --- ---- ---- --- - ---- ---- ---- ---- 104 104 -- - 101ls1025g 1001g100121001410014 ________ 1001410012100 100141001410034 9812 9914 98 99 1001g 101 98 98 99 9914 ____ _ ___________ _____ ____ __ _ ---------------104 104 1013410134 100 100 ------ ___________ _ 103 103 ____ _ ___ ____ _____ __ _ Debenture.1933 ------------ 5 11312114 114121143,i ---- ____ 1131211312 ---- __ __ --- ____ 1101211012 ____ _ ___ 105 105 Northern lst-------- 5 --- - ____ ---- -- -- ---- ---- ---- ---- ---- -- -- ------- ---- ---- --- - ---- ---- -- -- 99 99 OttC F & Illinois St P, lst---------5 ________ 1023g 102as 1001.t10014 --- - ---- 100:is 1003s ___ _ _ ___________ ______ _____ ___ ______ __ __ Win &. St Pet, 2d ----------- 7 _____ ______ ___ __ ---- ---- ---- ---- 1007g lOFs ---- ---- 1017s 1017s 1007s 1007s ___________ _ ______________ _____ _ ML S & 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 1163g 1161 2 1165s 1165g 114 11634 - --- ____ 11512 11512 11112 11112 114 11414 ____ _ __ _ 114 114 _ _ _ _ _ _ _ _ ____ _ __ _ Registered ---------- ------ - 6 ___ _ ______ __ ____ 116121161 2 ___ _ ____ __ __ ____ __ ____ ____ ___ _ __ __ _ ___ ___ _____ _____ ____ ___ __ __ General, 1988, gold-- ------ -4 9934 1001 2 100 1003s 9834100 99 10012 9934 10012 991210012 977g 99 94 9718 95 951 4 9234 961 2 88 93 9212 97 Registered --------- ----- 4 ________ 9912 9934 - --- -- -- ---- ---- -- - - ---- --- - ---- ---- ____ ---- ___ _ 92 92 ________________ --- - -- - 1st and refunding ______ 1934,4 911s 9134 91 915s 8912 911? 887s 9034 8712 8912 8712 88 8734 883s 8612 883s 8512 881 2 8012 87 80 83 82 8334 Registered------------- --- -4 ___ _ ____ ____ ____ ____ ____ 87 87 ___ _ _ ___ 8212 821 Coll tr, series M-- ------ 1915,4 9014 901 ______ __________ ---- ____ ____ ____ ____ ____ __ __ ____ ____ ____ ____ ____ ____ _ __________ _2 2 Series 0, 1917-- ---------- 4 ___ _____ 9034 9034 ---- ---- ---- ---- ________ -- -- ____ ____ ____ ____ ____ ____ ____ ____ _ __________ _ Series P, 1918- __________ -4 ____ ____ ____ ____ 90 90 86 86 84 84 - - - - - - - - _ _ _ _ _ _ _ _ 84 84 _ __ _ _ _ _ _ _ __ _ _ ____ - - - ___ _ Railroad, 2002------------ -4 7514 77 743s 7614 68 7434 6912 7312 66 7034 66 l2 6912 6914 70 65 6958 6414 691 4 59 691 4 4934 6034 5834 6-1 Coll tr, gold, 1913-- ------ 5 89 91 8812 9134 82 88 83 88 83 8634 334 88 87 8812 82 . 8812 8114 833 7214 8312 59 72 70 7714 Burl CR & N, 1934 _________ 5 117 117 ______ __ - --- ---- ---- ---- 113 115 1141211412115121151 2 119 119 10812116 4 _____ ____ _____ __ 1031210312 Keokuk & Des Moines, 1st-- 5 ________________ --- - ---- - --- ____ -- - - ____ 1 3 103 ________ ---- ____ 101 101 101 101 __ ______ 95 95 Choe Okla & Gulf, 1919 ---- 5 _____ ___ ---- ---- - --- ---- ---- ---- ---- - --- --- - ---- ---- ---- ---- ---- --- - ---- --- - ---- 1041s 105 -- - - --- Chicago St Paul Minn&. Omaha - 6 12934 131 131 131 128 13012 12812 130 1291413012 1261412614 1273412812 128 128 125 128 120 1261s 118 1201g 11834 121 Chicago St Paul&. Minn, l st- 6 _____ ___ 1311413114 ---- ---- - - -- ---- ---- -- -- -- -- ---- --- - ____ ---- ---- ---- ---- ---- ---- --- - -- -- 119 119 St Paul&. Sioux City lst- __ 5 1191 2 11912 1205g l205g ---- ____ 1163g116¾ 1181411314 117 117 1173s1173g ------- 110 112 --- - ---- 111 111 Chicago Terminal Transfer- -- -4 ________ ______ ______ __ __ 9734 9734 ____ ____ ____ ____ ___ _ ____ ____ _ __________________________ _ Couponoff- __________ ______ 4 99 991 2 9812 9912 9812 9812 97 109141091410914 ---- ____ ____ _ ___________ ___ _ Chicago & West Ind-Gen- ___ 51121 2 1121 2 113 113 1107glll 1107g1107s 1107glll 1091410914110 110 ---____ 11334115 - --- ___ _ 1133411334 Consol, 1952- ------------- -4 ________ 977s 98 ___ ___ __ 977s 9718 ____ ____ ___ _ ____ ____ _ ___ ---- .. ---Cincin Dayton & Ir--1st ---- 5 ______ ________ __ 10514105141041210412 1035g 103~8 102 102 ___ _ _ __________ _ Cincinnati Ind & W, 1953 ___ -4 83 83 - --- ---- -- - - ---- ---- ---- ---- -- -- ----- -- -- -- ---Clev Cin Chic & St Louis- ____ -4 101 102 101 10134 961g 1013s 9734101 101 102 97 99 9734 98 95 9712 96 9614 93 97 8912 9114 9212 9412 Cairo Division, lst--------- 4 993s 993g ---- ---- --- - ---- -- - - ---- --- - ---- ---- - --- ---- ---- --- ---- --- - -- -- ---Cincin Wabash & M, 1st----- 4 98 98 981!! 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 987s ---- ---- 9812 9812 ---- -- -- ---- ---- 85 85 Registered __________ ___ -4 9912 991 2 ______ ___ _____ __ 9814 9814 ________ --- - _____ _______ 95 95 97 97 9814 9814 ---- ---- - --Cin San & Clev cons-------- 5 ___ ___________ _________ ___ ___ ___________ 109 109 ___ _____ __________ ___ ____ _______ ___________ _ CCC & I. consol----------- 7 118121131 2 ________ ____ ____________________ --- - _____ _____ __ ---- ____ 1151211512 1155s 1155s 1101211012 ---Gen consol, 1934---- ------ 61311g 13112 132 132 ____ __ __________________ 12914 12914 127 127 ____ _ __ _ Peoria & Eastern, 1st, cons - -4 94 95 9434 95 9412 95 9114 92 9112 9214 9012 92 89 9034 89 91 ________ 88 89 85 85 8312 84 Incomes, 1990-------- ---- 4 70 7234 70 7012 64 697s 62 64 60 6312 55 55 55 60 53 59 50 55 45 50 37 40 39 45 Clev Lorain & Wheeling, 1933-5 112341135g 1135g l135g 1131211312110 110 ________ 1093410934 ____ __ __ ____ _ ___ _______ _ Col Midland 1st, 1947 _______ -4 7212 7414 711s 7212 67 71 68 7012 67 69 68 57 6914 6634 671 2 62 59 65 63 65 59 65 55 58 Col & Sou-1st, gold, 1929- __-4 9214 9418 905s 933g 8914 91 8934 91a8 8914 9034 885g 8912 89 7812 8212 8934 84 8738 835g 841 2 8212 851 2 75 81 Ref and ext, 1935---- --- -4 ½ _____ ___ 95 95 ---- ____ -- -- ---- ___ ___ __ ---- ---- ---- __ __ ---- ___ _ ---- -- -- - --7612 77 Dela w &. Hudson, con, 1916- _ -4 1043410914 1025g 1055s 951g 1035g 99 10314 95 10314 941 2 97 95-34 97 9012 963g 9214 9634 89 9614 88 9412 91 97 Albany &Susq,conv ______ 3 ½ 106 110 105 107 95 104 9634100 92 9934 9212 941g 9234 94 8712 9314 8934 927s 84 91 8434 8712 8912 92 Del Lack & Western, 1907- --- 7 104 104 1041210412 lOllglOlls 1013410134 10Fs10214 ---- -- -- --- - --- - ---- ---- - --- ---- - - - - ---- --- - - --- ---Morris & Essex, lst----- -- -1---- __________________ __ ---- ---- 1171211712117121171211712 117121171211712 - - -- - - -- 115 118 109 109 ---Consol, guar------------- 7 ____ ___________ _ ________ 1213g 1213g ________ ___ _ _____ _____ __________ 1171211712 __ __ N Y L & W, lst-------- ---- 6 ________________________________________ 122 12214 122 122 ____ ___ _ 1191211912 115 11912 115 1151s 118 118 Construction, 1923--------5 1113g 11138 11034 11034 ___ ____ _ 109 109 109121091211 112111121091210912 10714 10714 107 10734 108 108 102 102 ---Terminal and imDt--------4 ____ ____ ____ ---- ________ ---- - --- 97 97 ---- ---- ---- ---- 90 90 86 89 ---Denver & Rio GrandeConsol, 1936---------------4 9612 9734 94 9614 9334 96 94 95 943g 9512 933g 95 92 9312 935g 94 9212 9334 93 14 95 88 9112 91 91 1st, consol, 1936- _______ -4½ 1021s 10218 ___ _ ---- 100 100 Improvement, 1928- _____ __ _5 10434 104-34 10512 10512 ___ _ ---- 102 102 ---- --- ---- 9814 9814 Rio Grande June lst-------- 5 ---- ---- ---- ---- ---81 88 83 8518 Rio Grande Western, 1st - __ -4 935g 943s 9334 95 92 Mortgage and coll tr, A---4 ---- ---- 8734 8734 ---- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis • RAILROAD BONDS. 91 · 1901"- (;ontinue d. January BONDS. February March April May J une July August September October November December Low Hf.{Jh Low Hf.{Jh Low Hf.{Jh Low Hf.{Jh Low Hf.{Jh Low Hf.{Jh Low Hf.{Jh Low Hf.{Jh Low Hf.Uh Low Htgh Low H t(lh Low Hf.{Jh -------------,-------------------Detroit & Mackinac-1st lien-- 4 ---- ---- ---- ---- 92 92 ---- Gold ---------------------4 92 92 ___ _____ 9212 9212 89 Duluth & I R- lst------ ---- 5 1111211112 ------- 111 Duluth So Sh & Atl-1937--- 5 11oas 112 ---Elgin Joliet & East, 1st, gold -- 5 ---- 89 111 . ---------------- ------------ ____ __ _____ _ ___________________________ _ --- - ---- - --- ---- 107 107 107 107 -- -- ---- ---- 110 110 ---____ 11034 11034 ___ _ ---- 92 95 9813 ---- ---- - --- ---- ------- 92 1071210712 ___________ _ ---- 99 101 __________ _____ ____ _ ---- 9412 9412 ------- 108 108 ---100 100 ____ ____ ____ ____ ____ _ ___ ________ 91 93 1st, consol, gold------------ 712912 12912 ________ 125 127 12614 127 12734 12734 1271a 1271a 127 12814 128 12814 ________ 125 125 118 12014 120 120 1st consol, prior lien, gold---4 97 9912 9714 98 961a 9714 95 9714 9334 97 9312 9412 91 9312 9314 95 94 951g 88 95 8412 8812 8412 8712 R,egistered- -------------- 4 ---- ---- ---- ---- ------- ---- ---- ---- ---- ---- ---- ------- ---- ---- 8012 8012 71 73 751 4 1st consol, gen lien, 1996 --- -4 8512 88 85 87 80 84 81 8314 8014 83 8012 82 7934 81 79 80 7918 8034 68 791 68 R,egistered ______________ 4 ---- ____ 8512 8512 ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ _ _____________ _____ 8___ _________ _ Penn coll tr, 1951---- ----- -4 9034 9112 8912 9014 84 9014 85 8612 86 87 80 8612 83 84 80 83 80 83 76 79 7414 75 71 72 50- year, conv, 1953 ________ -4 961210334 94 9634 76 95 7614 83 7612 81 7612 7712 78 811 2 72 761 2 7214 76 65 72 4612 6012 55 62 Series B, 1953 _____ ______ -4 ________ 85 87 80-34 84 73 7512 72 73 70 72 693s 72 68 68 --- - ____ 62 66 49 58 51 56 Buffalo NY & E. lst------- 7 ___ _____________________ 1201 2 12012 ________ 116121165s 1171s 1111 2 __ ______________ ___________________ _ Chicago & Erie, 1st, gold __ _5 1173g 11814 1161211834 11312 119 116 1171 2 115 11512 ---- ---- 11414 115 11314 11314 11012113 112 11214 10712109 108 110 Jefferson RR, lst- --------- 5 ________________ 101 101 100141001410012 1005s ---- ---- ________ 101 101 ___ _ Long Dock, cons, 1935----- 6 ___ _____________ 130 130 ________ 126 126 ---- ---- ___ _ ____ ____ _ ___ 123 123 ___ _ N Y & G :eenwood Lake _____ 5 ---- ---- --- - --- - - --- ---- - --- ---- ---- - --- ---- -- - - - --- ---- ---- ---- ----- - _ 96 96 N Y Susq & West, ref ______ 5 ___________ _____ 108 lOts ________ 1101211012 ---- ----10812 10812 ___ _ ____ ____ _ ___ 103 103 Gen, gold, 1940---------- 5 103 103 1001210012 ---- ____ ---- ____ ---- ---- ---- ---- ________ 100 100 ---- ___ _ 9412 96 ___ _ Terminal, 1st, 1949 _______ 5 ____________________ __ __ 1101211012 1103sl1012 ________________________ _______ _ ___________ _ Midland of New Jersey, lst- 6 _________ ______________ _ _______ __ _______ 1037s 1037s 104121041 2 1045s 104-Ss 1031410314100121001 2 100 100 100 1011 2 Wilk & East, 1st, 1942---- 5 ___ _ ________________ __ __ 10512 10512 ---- ---- ---- ---- ________________ ---- _______________ _ E:vansv & Terre Haute, cons --- 6 ________ ---- ____ ---- ____ ---- ---- --- - ---- 116 116 ______ __ ____ __ __ ---- ____ ---1st gen, 1942 ______________ 5 ________ 1065g l065s ________ 1041:d0412 ________ ---- -- -- 103121031 2 ________________ 100 100 ________ 90 Ft W & D C- lst------------ 610912111 110 11012108 11012 1081gll2 111 111341061210712 107 108 105 10712105 107 100 106 100 1011a !>812103 Ft W & Rio Grande- ls t---- -4 ---- ____ 85 87 8414 8534 84 847g --- - ____ 847s 847s 8212 8212 82 8212 8112 8212 78 8034 73 73 ---<ialv H & Hof 1982 __________ 5 103 103 ________ 100 100 ________ ---- ____ ---- ---- ____ ____ _ ___________ 9212 9212 9212 9212 90 91 <ireat Nor-CB & Q col tr----4 947s 987s 9434 9512 8914 9434 92 97 9Fs 9614 9134 947s 9112 9334 8912 9338 91 9338 8312 931 2 8234 871 2 88 95 Registered ---------------- -4 9434 9612 9412 9512 885s 9414 91 9514 94:lg 9412 n14 9212 ________ 8934 9234 9214 921 4 84 9212 8414 3414 88 92 <iulf & Ship Island 1st ref- ___ 5 ________ 1021210212 ________ 99 99 100 100 98 99 98 98 101 101 98 997g 98 98 93 98 ___ _ Hocki!}g Valley-1st, cons--4 ½ 104 10412 10412 1047s 1035s 10514 1041210512 104 105 10212 10312 10034 1011 2 102 10234 99 9934 9712 9934 94 97 95 99 Registered ------- --- -----4½ ___ _ 99 99 ___ _ Colum & Toledo 1st, ext- --- 4 ___ _ ____ 99 99 ___ _ 95 95 Erie-1st ext, _______________ 1947------- -- -4 .2d ext, 1919 5 3d ext, 1923--------- --- -4 ½ ·4th -- - --- - -5th ext, ext, 1920----1928--- --------- -45 ---- --____ ____ 109 109 ________ ____ ____________ 1031a 10318 ------- ---- ---- ---- ---________ 1007a 1007s _____________________ ___ -96- Illinois Centrallst, gold, 1951- ----------- -4 Registered _____________ -4 1st, gold, 1951----------- 3 ½ Extended 1st gold, 1951--3 ½ Gold, 1952---- ------ ------ -4 Registered -------- ------ 4 Gold, 1953 ________________ -4 Registered _______ ______ -4 Cairo Bridge, 1950--------- -4 Louisville Di v, gold------ 3 ½ St Louis Division, 1951- ---- 3 Gold, 1951- ------------ 3 ½ Western lines, lst----- ---- -4 Carb & Shaw, lst-- -- ----- -4 C St L & 0, 1951--- ----- 5 <iold, 1951- ------------ 3 ½ Memphis Division, lst----4 St Louis South, 1st gu _____ -4 Ind Dec & West-lst-------- 5 Ind Ill &. Iowa- 1st, 1950--- -4 Jnternat & Gt or-1st, 1919-- 6 12d, 1909 ___________________ 5 3d, 1921- ----------------- -4 Iowa Central-1st, gold ------ 5 R,efunding, 1951-- --------- -4 Kan City So-1st, 1950------ 3 Lake Erie & Western-lst---- 5 2d -----------------------5 Northern Ohio, lst --------- 5 Leh "'. N Y- l st, guar- ____ -4 ½ Registered --------------- 4 ½ Lehigh Valley (Pa), 2003 ----- -4 Lehigh Valley Ter-lst, guar- _5 Lehigh Valley Coal-1st, guar-5 Lehigh & N Y-lst, guar-----4 Long Island-1st, 1931- ------ 5 General mortgage , 1938- ___ -4 Unified, 1949 ______ __ _____ -4 Guar ref, gold, 1949 ____ ___ -4 Brooklyn & ~Ion, l sL------ 5 NY & RB, lsL------ ------ 5 Louisiana & Arkansas-lsL -- 5 Louisville & Nashville-Gen-- 6 Gold, 1937 _________________ 5 Unified, gold, 1940-- ______ -4 Coll trust, gold, 1931 ------- 5 Coll tr, 5-20s, 1923 ________ -4 EH & N, 1st, 1919- -------- 6 NO & Mobile, l st-------- -- 6 St Louis Division, lst------- 6 2d gold, 1980------------- 3 Pensacola &. Atlantic, lst---6 Ken Cen t, 1987- ---------- -4 L & N-South. foint_ ______ -4 NF & S 1st, guar, 1937 _____ 5 So&. o Alabama, 1936 ----- 5 Manhattan-1990 ___ __ ______ -4 1 Metropolitan Elevated, 1st- - 6 Mexican Central-Consol- - ___ _4 1st consol income----- ------ 3 2d consol income----------- 3 1"inneapolis & St Louis- lst, gold, 1927 ___________ __ 7 Iowaextension,lsL--- ----- 7 Pacific Extension, lsL ------ 6 1st con, 1934, gold- --------- 5 1st and refunding, 1949 ____ -4 M St P& S SM, 1938- ----- -- -4 M S SM & Atl, 1926---- ------ 4 \issouri Kansas & Texaslst, gold, 1990 ----------- - -4 2d income, 1990- ______ __ __ -4 1st ex tension, gold, 1944 - ___ 5 ___ _ ____ ___ _____ ---- ---________ ____ ____ ____ 1073s 1073s ___ _ 1001 2 10018 ________ 100 100 ________ 100 ---- 104 100 104 ---- ___ _ ---- ---- ---102 101 101 ____ ____ ____ ____ ____ - - -- ---- ---- ------- 89 89 ---______ __ 98 983s 100 100 ___ _ 9S ---- 97 9712 ---- - --- g7 98 98 ___________ _ 1011210312 10014102 100-3410214 ________ 9812 985s 9812 9812 ________ 98 99 98 981s 98 99 96 97 96 9714 ____ __ __ ___ _ _______ . ____ ____ ____ 97 97 ___ _ 1023410234 ___________ _ 8934 91 8934 8934 ___ _ 89 ------ - 89 7834 7834 7834 78-14 ___ _ ________________ 89 89 ___________ _ 102 102 ________________ 100121005g ___ _ ________________ 97 97 __________ __ ___ ____ __________ _____ __ 1181411814 ___ _ ---- 106 106 ________ 8814• 8814 ___ _ ________________ 1001210012 ________ 1001210012 ___ _ 97 ____________ ___ _ 97 97 ___________________ _ 105 105 1041210412 ___________ ___ _____________ _ ___ _ ____ 100 100 ________________ 9312 9312 ___ _ 115 11512 115 115 11412115 11312114 111 113 112 112 ________ 114 114 ________ ---- ____ 101 105 10214105 99 995s 99 9912 95 95 95 98 9612 9734 9512 9612 97 98 9712 98 95 96 94 95 90 92 9012 901 2 77 79 ____ _ ___ 71 73 65 65 ________ 65 65 _____ _________ __ 60 60 ---- _______ _ 1091?110 109 111 _________________ _______ 10212 10212101 101 101 102 1013s 10212101121025s 100 10112 100 100 ____~ ____ 85 85 ________________________ 82 82 ____ ____ ____ __ __ ____ 73 75 735g 7334 ___ .,_ 7012 72 7112 721g 69 7112 6712 73 69 71 6912 701s 6934 707s 6712 701s 69 70 67 70 65 6612 6q 70 11212113121131211334 113 114 ________ 1125s 113 1121211212 111 11112 112 11218 __ ______________ 110 110 109 109 1077s 1077s 1077g 1077s _____ ___ 1061210612 10634 1077s 10612107 _________________________ __ ________________ _ _· _______________________ 110 1101 8 ________________________________ _ __________ _ 10712 10712 107121071!! 1071210734 10634 10634 107 1073s 107 10734 104341057g 1057g 106 10512 106 106 10612 102 10312 10112 10112 ____ ____ ____ ____ 106 106 ___ ___ _______ ___________ _______ _ ___ _ ___ _ ____ ____ ____________________________________________________ 87 87 87 90 ____ ____ ____ ____ 1131s 11314 ______ __ 11212 11212 ______ __________ ---- ____ 106 106 --- - ___ _ ___ _ ____ ____ ____ 1121211212 ___________ _ ____________ 1061210612 100 100 ---- _____ __ ____ _ 9634 96-14 ____ _ ___ 955s 95-Ss 953s 953s ____ ____ ____ ____ ____ ---- _______ _ __ ______ 114 1141g 113 1131g 112 112 ________ 1121211212 1103411034 1103411034 110 110 1093410934 ---- ____ 10834110 981g 99 98 9814 9512 9512 96 96 96 96 92 92 9312 95 __ - _ 89 89 89 89 - - - - - - - _ 82 82 94 95 95 9512 95 95 947g 9512 ___________ __ ______ __ ___________ 84 84 ---98 9912 9914 9912 96 9612 96 98 961g 97 9412 9512 9412 96 94 9412 92 94 92 9212 ---- ---- 86 92 1021210212 ________ 100 100 ____ ___ _ ____ ____ ____ ____ ___ _ _ ___ 9934 9934 ---1091410914 ________ ---- ____ 105 105 ---- ____ ---- ---- ---- ____ ---- ____ ---- ---- ---____ ____ 1031210312 ____________ ____________ ---- ____________ 100 100 102 102 ---115 11514 ________ 1151411514 ________ 117 117 1141gll5 ________________ 115 115 ---- -- -- 112 114 112 112 ___ _ ____ 1173411734 108 10812 ________________ ---- ____________ ---- ____ 1111411114 110 11114 --- - --- - ---- --- 100 101 100 1001 2 9712100 97 1017s 100 10112 931210012 961s 931 2 961s 9718 95 9612 92 97 92 94 93 961s ___ _____ 109 109 109 109 ________ 1061210612 10512 10512 106141061 4 106 106 ________ 105 10512 ---- ---- 1031410312 97 975s 977g 98 95 9734 95-1g 96 95 96 9234 9234 9234 95 94 95 9334 9414 9034 9112 89 89 86 7s 89 ____ ___ _ 112 112 ---- 112 112 1131211312 --- ---- 111 111 ___ _ ___ ____________ _ 121 121 ____ --- - 1257g 1257g ___ _ 120 120 ________________________ 117 117 ___ _ ___ __ ___ 7212 7212 ---· ---- ---- ---- ---- ---- ---112 112 ________ ---- ---- ---- ---- - -- - ---- -- -9714 975s 97 97 96 96 9512 97 9612 9712 95 95 ___ _ 93 - - - - - - - _ - - - ---- 93 91 92 9112 9134 87 91 8634 8712 ________ ----- -- 8712 88 --- ___ _____ 1131211312 ---- --- - ---- ---- ---- ---- ---_______ _________________ 1091s 1091g 111 111 ___ _ 9912 1005g 100 10012 991g 997g 9712 9912 98 100 97 98 9512 9712 9712 9712 __ - _ _ __ _ 92 9534 88 9014 89 9114 99 10114 9812 10014 1005g 10112 10014 1017s 102 10212 1023s 10212 1021s 1031s 103 104 1031410312 1005g 1007s 1003410114 10034101 73 783g 71 7412 74 7634 84 86 8314 8512 81 841s 81 83 77 8112 777s 82 80 8134 7712 81 76 7834 11 1612 1112 1312 1312 1512 16 19 23 2734 2312 2512 201s 24 2214 251 4 1912 2214 20 21 21 221 2 15 20 8 13 7 10 814 12 1712 21 17 19 1412 18 17 Ull4 ________ 14 15 1512 1512 10 1512 10 15 1021210234 102 ---- ____________ 130 130 ---- ----- --- --- - ---- ____ 105 105 ___ _ 118 1181!! _______________ _ ---109 110 110 11012 1091210912 105 10712 108 108 ____ ---- 103 9314 94 92 933s ------- 87 87 86 ---- ---- _____ __ _ 99 99 96 97 ____ ---- 98 98 ---____ ____ ____ ____ ____ ____ 102 102 1s ---97:ls 983s 87 88 103 104 8512 86 861s 881g 87 87 973-1 9812 837s 8512 10312 104 86 86 87 8712 ____ ---- 95 80 103 81 83 82 98 85 104 8312 87 82 9514 9834 96 9834 945s 9512 8114 8412 83 8412 8314 8434 1033g 105 102 10214 10112 103 ___________________ __ ___ 8312 8612 8614 87 85 87 85 85 84 84 --- - 9412 961 2 845g 8714 10012 10212 83 83 84 85 94 81 101 83 82 103 87 ---- --- 96 8414 101 83 85 95 96 8012 83 101 10219 79 7912 84 847s ---- ------8912 9612 75 83 101 102 79 7912 81 14 847g 82 82 75 95 90 12 75 93 7714 7012 ---- ---- 9~ 75 95 75 _-- - 9512 7812 97 77 14 77 -- -- 9212 7912 95 ---74 7s ---- 98 84 95 8112 97 ___ _ !:>O 1st and refunding, 2004 -----4 General sinking fund, 1936 .4 ½ St Louis Division, lst -------4 Dallas&. Waco, lst--- ------ 5 1041210412 ____ ____ __ __ ____ __ __ ____ ____ ____ ____ _ ___________ __ _ _ KC & P , 1st, 1990---- ---- -4 ---- ---- 9512 9512 - --- ___ _ 9512 9512 ________ -- -____ ---- ---- ___ _ Mo Kan & Okla, lst----- --- 510612107 1063410714 ________________ 10414105 ___ _ --- - 1051210512102 102 ---- -- -- 98 9812 9012 91 95 95-34 JnK&TofT,lst- --- ------ 5106 10612106 10614102 104 103 1037sl04 10412103 10414103 1035sl031210312---- -- -- 96 101 95 98 95 97 .Sher Sh & S, 1st, guar ______ 5 ________ _______ _ 104 104 ---- ---- ---- :. ___ --- - ---- 1043410434 105 105 ---Texas & Oklahoma, 1st- ___ _5 106 107 ___ _ ___ _ _ ___ ____ 104 104 1031210312 ____ _ __ _ ____ ____ ___ _ ____ ____ _ ___ 1001s 1001 8 ___ _ Mo Kan & E 1st----- ------ 51101gll01s 111 1111 R 11014112 108121081210612108 __ ____________________________ __ 98 102 98 9814 98 101 \issouri Pacific1st consolidated--------- -- - 6 1119 1193s 1195s 1191s 118 120 118-34120 1155s 11612 1153s 11512 ---- ---- 116 116 1161411614 ------- 103 103 Trust, gold, 1917 ___ ________ 5 10412 105 10414 105 101 1013.1 1001s 102 1013410214 1007s 10112 10114 10112 !00 10134 9712 100 9312 99 8912 91 9012 9212 R,egistered ___________ ___ 5 1 ___ _ ---- 1041210412 ---- ________ ---- ________ ---- __________________ ____ _____________________ _ _______ _ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 92 RAILROAD BONDS. 1901 - Con1lnued January February I March Aprl,l May J une July August September October November December BONDS. ~~~~~~~~~~~~~~~~~~~~~~~~ ______________ ,____ - - - - - - - - - - - - -----1-----1---- - - - - - - - - - - - - - - - - - - - - Missouri Pacific-(Concluded). 1st, collateral, gold, 1920- -- _5 10412105 101 10312 101 102 101 10214 102 10214 101 10212 10158 10158 931 4 99 9734 99 90 991 8 391 2 90 90 9234 40- yr, 1945, gold---------- -4 8912 8912 8914 90 86 8612 8812 8912 ________________ 86 86 86 86 ___ _ 3d, 7s, extended to 1935 _____ 4 ---- ____ ---- ____________ 98 98 9712 9712 ___________ _ Central Branch R.Y, 1st- ____ -4 9412 9634 9414 9414 93 93 _ _ _ _ _ _ _ _ 92 92 90 90 ___ _ · Central Branch, Un Pac, lst-- 4 ______ __ ---- ____________ 92 9212 ____ ____ ____ ____ ____ _ ___ 90 90 ____ _ ___ 74 74 PacofMo,lst,ext---------- 410134 10134 ---____ 101 101 1007s1013g 101as101a4 101 1011 2 98 98 ____ _ ___ 100 100 2d, 1938, ext------------- 5 1171411714 116 117 1161s 11518 ____ ____ ____ ____ ____ ____ ____ ____ ____ _ ___ 112 112 St L & Ir Mtn gen & I, gold--5 113 3s 114 113 11334 10912113 11 11012 1097s 111 110 11012 1097s 1101 2 108 10918 10812 109 104 1071 2 100 103 1031 8 10612Stamped _________________ 5 ---- ___ _ ---- ---- 1091210912 __ __ ____________ 1091210912 ____ _ ______________ _ Unifying & refund, 1929- _-4 86 881s 85 8712 80 85 8 12 8512 8412 8512 81 85 83 8434 83 8434 83 8434 80 85 70 70 71 77 R.iv & Gulf Div, lst------ -4 9134 92 14 90 9134 85 91 8 9212 90 90 __ ____ __ 88 88 88 88 8734 88 871 2 881 4 851 2 851 2 80 81 Mobile & Ohio-New, 1927---- 612114 123 1237s124 1223412234 12! 34 122341231412314 ____ _ ___ 117 117 1171 2 1171 ___________ _ 1st, extension, 1927--------- 6 ---- ____ ---- ---- ____ ____ __ __ ____ ___ _ ____ ____ ____________________2 103 103 ___ _ Gen mort, 1938------------- 4 9312 94 ---- ---- ---- ____ 8 9112 8412 8412 ____ _ ___ 83 83 ______________________ __ ___ _ Montgomery Division, l st--- 5 ---- ---- ---- ---- 1081410814 -- - - ----1081210812 __________________ ______________ 1021 2 1021 2 ___________ _ Nashv Chatt & St Louis- 1st- - 7 11612 11612 --- - - -- - 1165s 117:ls 11 11612 1165g 117 1173g 1185s 114:lg 11534 1141 2 11518 1121 2 11212 1121 2 1121, 108 109 _ __ _ _ __ _ Cons, gold, 1928------------ 5 11314116 1135g 11334 1133411334 -- - - ---- 1111211134 1121211212 11214 11214 1121 2 1121 2 111 111 1081 2 1081 2102 104 1011 4 103 Jasper Branch , l st---------- 6 ---- ____ ---- ---- ________________ 1161211612 ___________________________________________________ _ National of MexicoPrior lien, 1926---- -------4 ½ 1021410214 ---- ---- ---- ____ ---- ____________ 101 101 9814 9834 ____ ____ __ __ ____ ____ 951 2 951 _______ _ 2 1st, consol, 1951------------ 4 8414 8712 86 87 8512 8614 8 82 ---- ---- 8214 83 8112 8212 7912 82 7812 781 2 80 80 75 75 75 7734, NY Cent & Hudson R.iverGold, 1997--------- ------- 3 ½ 9314 9334 927s 935s 90 93 9034 9412 9212 945s 9114 9212 8934 9058 88 9038 88 3914 85 89 85 881 4 881~ 91 R.egistered ----- ------- 3 ½ 9212 9212 ---- ---- ________ 9_ 2 9414 93 93 8912 90 891s 8918 88 88 88 88 8412 841 2 8534 853-1 Debenture, gold, 1934 ______ -4 9812 99 977s 987s 94 97 9434 98 93 9514 93 941s 94 95 931, 94 9314 941 2 9034 9358 86 881 2 8734 91 Lake Shore, collateral-----3 ½ 8612 8812 84 851s 83 84 8 8512 827s 85 8214 83 83 84 791; 84 791 2 80 7712 791 2 73 781, 7414 7614 , R.egistered ------------ 3 ½ 8414 87 83 84 8134 84 8314 8334 ___ _ ____ ____ 83 83 78 781 2 79 79 7412 77 7212 75 - 74 75 J\Uchigan Cent'!, collateral-3 ½ 8614 8714 83 85 ________ 84 8412 8412 8412 O 83 8314 84 83 83 80 80 75 80 72 72 7312 75 R.egistered ------------ 3 ½ 8434 8434 ---- ____ ____ ____ __ __ ____ ____ ____ ____ 71 71 BeechCreek,lst,guar------ -4102 102 102 10214 _______ _ ______________ __ ______ __ ___________ _ Mohawk & Mal, l s t---- --- -- 4 _______ _ ---- ---- 9712 9 712 __ __ __________ __ ___________________ _ NY & Northern, lst-------- 5 ---- ____ ---- ____________ 11()12111 1101211012 ___________________ _ West Shore, guaranteed- ___ -4 103 105 10334105 102 103 102!!4 104 103 10412 10334 105 1001a 103 991 2 10134 10014 101 981210112 99 9712 10014R.egistered __________ ___ -4 102 10314 102 103 10012 102 1005s 10234 10212 1031s 10212 1027s 10034 1011 2 9812 101 9834 9934 97 100 96 95 9812 LS& MS, gold, 1907----- 3 ½ 9312 9412 9312 94 9134 9434 92 9634 9312 9434 91 92 92 9238 9234 93 94 95 85 95 8612 87 91 R.egistered _________ _3 ½ 94 94 _ _ _ _ _ _ _ _ 927s 927s _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ __ _ _ __ _ _ _ _ _ _ _ _ _ _ ______ _ 91 91 88 ---- -- -Debenture, 1928----------4 98 9912 9614 981g 92 9414 9312 9712 917s 9412 9214 9312 92 933s 9112 941 2 89 90 86 90 86 8512 895s. R.egistered ------------4 ---- ---- ------- ---- ---- ---- -- -- ---- ---- ---- ---- ---8112 - - -- - --25=year, gold, 1931 -------4 ---- ---- ---____ 8912 9034 8934 9034 9014 91 8914 9078 88 90 8312 901 2 8534 85-34 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 & 0 , cons, 1st- __ _____ _5 11314 114 1131411314 113 113 l10i4 111 111 111 11012 11012 _ _ _ _ _ ___ 1091s 1091 8 1061 2 10658 10234 1061 2 10412 105 Oswego & R.ome, 2d-- ----- - 5 ---- ___ _ ---- ______________ ___ ___________________________ 103 103 ___ _____ ___________ _ Utica & Bl R.iver-- --------- 4 _________________ ___ _________________ ____ _______________________________ 103 103 ___ _ Pine Creek, 1932----------- 6 _______ _ _______ _____ ______ ___ _______________________ ___ ___ _________ ___ ______ ___ _ 107 107 ___ _ N Y Ch & St L-lst- _ -- __ __ __ -4 102ss 10314 103 10314 103 10314 100141011s 101 101,s 101 1011s 1007s 101 10034 10034 99 1001 4 9718 9738 94 94 93 9512R.egistered _______________ _-4 _______ ____ _____ 1021410214 ____ _ ______________ _ N Y N H & Hartford·ttousa tonic, 1937 ___________ 5 ---- ---- ---- ---- ---____ ____ ____ ____ ____ 113 113 ___ _ N YO & W, ref, lst-----------4 991g 101 1001210114 95 98°s 96 9812 96 98 96 9714 973s 9812 94 98 92 . 9334 92 9434 85 91 89 9112Norfolk & Southern, lst------- 5 ---- ____ ___ _ ____ ____ ____ ____ ____ ____ ____ 100 100 ___ _ Norfolk & Western, gen-- ----- 612912 12912 130 130 ________ 129 129 126 126121261212612 ____ ____ ____ _ ___ 115 115 ___ _ lmpt & Ext, 1934-- -- ------- 6 ---- - --- --- - ____ ---- ____ --- - ____ --- - ____ 129 129 ___________ _ N & WRY, 1st, con------- - -4 9812 9934 9734 985s 9712 985s 971 2 983s 95 98 9314 957s 9312 9534 93 9512 93 95 8812 94 86 9012 9112 95 91 Registered - - - _- ________ _4 - - - - --- - - - - - - - - - ---- - --- - - - - - - - --- - - -- - - - -91 Divisional, 1st lien _______ -4 ---- __ __ 961s 961s 95 95 ____ 887s 91 88 88 85 85 87 8714 8112 811 2 - - - PocahontasC&Cjoint------4 9012 9112 8912 91 85 9112 8G 8834 8834 90 8612 87 85 87 85 86 86 78 86 75 80 76 79 85 Sc Val & NE, l st-----------4 9918 9912 9912 9912 9912 9912 98 9812 96 96 96 96 92 92 92 93 92 9212 92 92 90 90 87I~ 8712Northern PacificPrior lien, 1997 _________ __ _ -41015810214 1007g 102 100 101 1001410214 100 102 991210112 99341007s 96 10014 9612 9918 9358 991 2 94 98 98 1007g Registered ___________ __ -410034102 100 10034 981210014 99 10012 1001410114 98 !Olis 100 10014 97 991 2 96 97 9834 9834 ____ 95 99 General lien, 2047- _____ ___ _3 73 7414 71 73 70 71 69¼ 7214 711s 72 69 71°s 70 715s 6512 707g 67 6834 67 6934 6212 67 u512 69 Registered ______________ 3 - - - - - - - - 71 71 - - - - __- - 70 70 70 70 - _- _ _ _- - - _- - ____ - _- St Paul-Duluth Division ___ -4 9534 953-1 --- ---- ---- -- ·- - --- ---- ---- ---- - --St Paul & Nor Pac-- -------- 6 ---____ 120 120 --- - ____ 12212122:i4 122341223-1 ________________ 116121161 2 ___ _ St Paul & Duluth, 1st, 1931- - 5 ------- ---- ---- ---- ---- ---- ---- ---- ---- 117 1411714 --- - ---- ---- ____ ---St Paul & Dul, 2d, 1917----- 5 ---- ---- 1083410834 ---- ____ --- - -- -- 1061210612 ---- __ __ ____ _ ___________ 100 100 ___ _ Nor Pac Ter Co-ls t- ______ __ _6 - - - - __ - - - - - - - _- - 11334 11334 - - - - - _- - 1135g 113°.~ - _ _ _ _ ___ - _- - ____ __ - _ _ __ _ _ _ _ _ _ __ _ ___ _ _ ______ _ Ozark & Cherokee Central- ---- 5 --- - ____ 9712 9712 ------- 97 97 ____ ____________________ 9612 97 ________________ 90 90 PacificCoastCo-lst _________ 5109 109 107 1071g107 107 ___ _ ____ 106341063.:1021210212103 103 105 105 102 105 102 103 99 100 100 1011'. Panama-1st, sinking fund- -4 ½ --- - ---- --- - __ __ ---- ___ _ --- - ____ 103 103 1023410234 10234 10234 ___________ _ Pennsylvania Co-lst------4 ½ 10512107 106 106 105 106 105lz10512105121057s 105341067g 10312104 103141031 2 104 1041 2 104 104 100 100 10312103q, Registered ----------- - 4 ½ ---- ---- 1053410534 ---- ____ ---- ---- -- - - ---- - --- ---- 101 1037s ___ _ Guar collat trust ctfs, B---3 ½ ---- ---- --- - -- -- ---- ---- -- -- ---- 83 84 ---- ---- ---Tr Co ctfs, guar, 1916--- -- 3 ½ 95 95 9512 9512 9512 9512 95¾ 96 9314 0314 - --- __ __ 94 94 ___ _ 93 ------- 93 87 88 84 85 Guar, gold, 15-25-yr, 1931---4 9712 9734 --- - ---- ---- ---- - ------ - --- ---- ---- --- 88 Ch St L & P, 1st, 1932 __ ___ __ 5 115 115 ---- ---- 115-34 11612 ---- - --- --- - ----1151211512 ------- 110 110 ---Erie & P, Ser B----------- 3 ½ ---- __________ ___ _______ 92 92 _________________ __ _ Toi WV & 0 , 1st, "A"---- 4 ½ ---- ---- -- - - ---- ---- ---- ---- ---- --- - __ __ ---- ---- ------ __ 97 103 ___ _ PC C & St L, Ser A-------4 ½ 1091210912 ____ ____________ __ ______ 1081-110314 1071s 10114 1011410714 ___ _ ---- 107 107 - --Series B, 1942- ________ _4 ½ - - - - - - __ 10914 10914 _ _ _ _ _ ___ - - - ____ 10634 106:!4 10714 10114 __ - _ Series D, 1945- __________ -4 98 98 - - - - - - - - 10034 1003-1 - - - ______ - - ______ - Series E, 1949--- -------3 ½ ---- ---- 91 91 ------- - --- ---- ---Pennsylvania R.R.R.cal estate, 1923-----------4 ----- -- 101 101 103 106 103 103 ---- ____ 1037s 1037s ____ _ ___ 103 104 103 103 Cons, gold, 1919 ____________ 5 ---__ __ ---- ____ ---- ---- ---____ ---- ____ ____ ____________ 105 105 Consol gold, 1943 _____ ______ 4 ------- --- - ---- --- - --- - ---- ____ ---- __ __ ---- ---- ---____ ---- ____ --- - ---- 101 101 Convertible, gold, 1915--- - 3 ½ 9234 95 9212 9312 88l2 927s 905: 931s 91 9312 891s 907s 901s 9112 8712 903s 8734 90 8312 901 4 84 89 8614 885s. R_egistered ------ ------ 3 ½ ---- --- - --- - ---- ---- ____ ---- ---- ---- ____ ---- ____ 91 91 ________________________________ ---- ___ _ Convertible, gold, 1912- _3 ½ 957s 10014 9514 9612 9114 957s 94 9612 9212 953s 9238 9414 9334 9434 9112 9414 92 941 2 8814 941 2 8614 901 2 8()34 9114 Allegfteny Valley, 1942------4 ---- --- - ------- ---- ---- ---- ---- 99 99 ---- ---- ---- ---- ---Pere J\\arquetteFlint&. Pere Marquette- __ __- 6 115 115 --- - --- - - --- ____ - --- - _- _ 11034 11034 _ ___ _ _ _ _ ____ _ ___ 11212 11212 ___ _ 1st cons, gold, 1939 _______ 5 ---- ---- ---- ---- ---- ----10034 10034 ---- ____ ---- ____ -------1071210712 Pitts Shenan & L E 1st1940-- 5 ---- ---- ---- ---- - --- ---- - - -- ---- ---- --- - - - - - ---- ---- -- - - ---- ---- ---Reading-General, 1997 _____ _-4 9734 98-34 97 985s 9434 9714 9531;, 9712 973s 965s 97 94 9412 8612 9414 8714 93 93 9512 Registered ------- - ------4 -- - 95-34 - - - - - - - - - - - 9434 9414 9412 90 92 90 85 85 8512 8512 Jersey Central, collateral ---·- 4 96 9612 951s 9614 941s 96 9234 941s R.utland-0 & L C-lst----- - -4 ---95 95 ------- 8712 8712 ---94 ---- _ _ _ 88 88 - • - RutlandzCanadian, lst -- -- --4 ---- ---- 95 95 ---- ---- ---- ---94 - - - St Jos & Gr Island-1st, 1947-- 4 91 92 14 9212 9212 - --- ---- 91 91 901 2 ''2 82 ---St Louis &. San Fran RyGeneral, 1931--- ------- - --- 61231212312 ______ __ ________ 1231 2 12312 ________ ________________ 118 118 1173411734 1177s 1181g llO 110 103 106 General, 1931- _______ _____ _5 109°s 110 1101s 11012 107 110 10812 10834 109 10934 109 109 10512 107 106 106 106 106 105 106 0912 104 103 105 R.R-Cons, gold, 1996-- ----- 4 93 93 91 91 - - -- ____ --- - _____ _______ ____________ ___________________________________________ _ Refunding, 1951- - _______ _4 8112 8212 80 821s 7734 8114 78 817s 7912 815g 781 2 801.i 773g 79 75 7712 7534 78 7034 77 6612 71 7112 76 Kan City Ft Scott & M, con--6 119 119 ---- ---- ---- ---- ---- ---- 1161211612 ---- ____ ---- ---- 116 116 ________________________ EO 110 Kan City Ft Scott & M, ref- _4 8134 8234 8134 8212 793-1 82 7814 82 7914 8012 77 793-t 7812 80 73 80 747s 751s 65 73 61 69 68 70 St Lou SW, 1st, 1989----- --- 4 9414 95 931s 9412 92 93 927s 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 7012 8014 80 80 80 ll2 80 80 77 797g ____ _ ___ 70 71 60 60 651g 68 Consol, gold, 1932------ ---- 4 77 79 75 773s 73 77 75 77 75 7612 72 7334 743s 75 70 72 70 71 65 7012 5414 6312 57 63 Gray's Pt Terminal-- - - ----- 5 ---- ---- ---- --- - ---- --- - lOllg lOlls ------- ---- ---- ---St Paul M & M-2d- _____ ____ - 6 105121055s ___ - ___ _ _ ___ _ ___ 103 103 103~s 1033s ____ ---- _ -- ______ -- ____ 101 101 1st, cons, 1933 _________ ___ _5 131 131 ---- ---- 131 131 131 131 131 131 130 130 ____ -- -- ---___ _ 125 125 119 119 ---- ---Reduced t0----- --------4 ½ 108 10814 1081210812 108 1083s ________ 10758 10758 10758 1075s 105121051 2 ____ _ ___ 104 104 ________ 102 1037a Dakota Extension----------6 1067s 1067g _______ _ 107 10714 ______ __________ 10412 10412104:ls 1043s 104 104 ____ _ ___ 100 100 ---- ---Mont Ext, 1st, 1937 _________ 4 _____________ ___ ~712 9712 99 10012 995s 995s 973s 99 9814 9812 9812 9812 97 97 961:, 961~ 94 9412 9314 0312 EM 1st div, lst- --------- - -5 __ __ ____ ____ ____ ____ ____ 1001210012 1ooaa10012 ____ -- -- !Olis !Olis 1001210134 - --199 99 , Mont Cent, 1st, 1937 ________ 5 ________ 1311213112 ---- ---- 130 131 ---- ---- ---- ---- ---- ---- 125 125 ---==== l st, guar, 1937 ________ ___ 5 - - - - - - - - ___ - _- __ ____ ____ 112 112 11512 11512 _ _ _ _ _ ___ __ - _ 105 105 Santa Fe Prescott & Phoenix - _5 _--- --- _ 10612 10834 _ ___ _ _ _ _ _ __ _ _ ___ 11 __ __ _ __ _ __ _ _ _ ___ 102 102 102 102 ___ _ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 93 RAILROAD AND MISCELLANEOUS BONDS. 1907-C:ontlnued. January February March Aprtl May June Jidy August September October November Dec~e, Low High Low High Low High Low High Low High Low High Low High Low Ht,gh Low High Low H 1,gh Lwo H igh Low High BONDS. --------------1------- ---- ---- ----- ----1 - --- ---- ---- ---- ---- ---Seaboard Air Line--------- ---4 81 8234 7934 81 74 7934 Collateraltrust.1911--- ----- 5100 10012 9934 10014 97 97 Atlanta-Birmingham, lst---4 88 89 ---- ---- ---Georgia & Ala, 1st , cons----- 5107121075s 1071210712 106 10734 Seaboard & R.oanoke, lst-- --5 ---- ---- . . .. ---- 106 106 Southern Pacific Colst , refunding, 1955 ________ 4 9414 947s 94 9514 9014 9414 Collateral trust, 1949--------4 8812 8934 89 90 85 8934 R.e2'fstered -------------- 4 ---- ____ ---2- 5- year, collateral trust----- 4 ---- ---Central Pacific, 1st, ref, gold-4 9934 1003s R.egistered ------------ -4 99 99 Mort, guar, gold, 1929---3 ½ 8534 86 ---981s ____ 86 Through St Louis, lst---- -4 ---- ____ 981s ---9834 ____ 86 981g --- 95 ____ 8212 ---0 H & SA, lst, 1910---- ---- 61051210512 --- - ---- 103 H~:o: f\Y~x1i;~~-t~-i"st===~ Cons, gold, 1912------- ---6 7312 75f>s 7112 75 9814100 9612 97 71 71 2 70 9612 9634---- 65 70 70 71 62 ---- 943s 943s 95 8734 86 84 ---93 933g 85-34 84 84 85 85 8214 ---- ---- ---- ---9034 103 1031210312 ---- --- - ____ 1113s iiii2 ---- ____ 94 94 ____ ---82 86 104 104 ____ 9134 8712 84 ---951s 933g 8214 9034 ---- - --- 9034 92 88 9114 88 8914 87 8712 85 8734 8112 86 ---- ____ ------- ____ 95 9534 ---9514 961 2 94 95 92 94 ___ _ 83 84 8214 84 ___ ____ _ ___________________ _ ___________________ _ 83 70 9012 82 86 74 90 ---- ---- ---9334 8811 91 81 83 75 6412 67 90 90· 99 8514 85 7934 80 82 92 92 99 90 82 ---94 94 ---- i~f!; i~~f: :~~- ~~~ - 1095s 110· 109i2 ioi12 1095s iii- :~~- 1.~~- ==== ____ 10912110· ---- --- - ---- __ _______ ___________________________ 1075s 1075 ---- ___ _ 93 93 ____ ---8312 86 _ _ __ ___ _ ____ 9234 93 ____ __ __ ________ 8312 8512 9312 931 ____ ____2 10038 10038 8212 84 _______ _ 90 ____ __ __ 80 821 2 80 90 87 83 70 ____ Sou Pac of California, 1st, 1912, E & F----- ----- -- -- 6 ______ ___ ___ ---- ---- ____ 107 107 - --- ---- ___ _ 1st, cons, guar, 1937 ______ 5 ________ --- - ---- --- - -- -- - --- ---- 116 116 --- - ____ ---So Pac, New Mex, lst----- --6 10358 104 ___ _ -- -- 104 104 ---- ____ -- -- ---- -- _________ _ r494!_s!== 6812 59 63 95 ---- ---- ---- ---- ---- ---- ---- ---- ___ _ ---- ---- ---- ---- ---- ---- ___ _ 9134 9434 9014 94 8512 9014 88 9012 -- - - 88 88 ---981s 96 977g 94 96:is 10914 iio- 1103s iioas 11012 i1O12 111 112 ---- ---- --- - ---General, gold, 1921--------4 9212 9478 94 94 93 93 Nor of CaL 1st, guar-- ------6 ___ _ ____ 112 112 --- - ____ Ore & Cal, 1st, guar-------- _5 98 98 --- - ---- 101 101 San An & Ar Pass----------4 86 87 85 87 81 86 So Pac Ariz, 1909- _____ - _- - 6 10312 1031 2 10.'1 · 10312 • ___ _ ___ 1st, 1910--------------- - 61043810438 104\ 10414 ____ 71 87 _ ___ _ ___ 833-1 ____ _ ___ 8 _______ _ 8312 8512 ______ __ --, 9734 9734 ___ _ 71 76 75 79 ___ _ _. __ 100 10012 100 100 101 10112 in;: i~~!; J So1:.ftie~n~i:t~ = === 11214 li33~ 10834li05s 10914 ii1i2 10712 iio1g 1051-210-73~ 105- ioi12 101- 10714 100 103 9112 10212 90 9312 9314 -99· M & 0, coll trust, 1938- ----- 4 92 94 9312 9312 89 92 88 l)l 89 89 ___________ _ ____ 82 82 79 79 ___ _ Memphis Div, lst------ 4 ½-5 11512116 1151211512 115 115 ________ 1131211312 __ __ ____ ____ ____ ____ _ ___ 10 1 101 St Louis Division, lst-------4 9312 9414 9312 9312 92 93 ---- ---- 89 91 89 89 8578 8712 80 86 84 85 78 78 75 75 7614 7514 Col & Oreenv, lst--- -------- 6 ___ __ ___ 111 111 ______________ ___________ _______ _____ _____ __ ET Va & Ga, Div. _______ ___ 511218 11318 ___ ____ _ 113381133s ________ 11212 11212 ______ __ 11058 11058 ___ _ Consolidated, 1st, gold----5 116 117121111211734 1165s 11112 1163" 1111 2 115 1151s 113 11512 113 113 1121 2 1131 2 __ _____ _ 112 112 102 1021 2 103 10518 E Tenn reorg lien-- --------- 5 113 11312 114 114 1101211012 ________________ 1101211012 ___________ _____ ___ _ Georgia Midland , lst-------- 3 6!s 6914 ___ ____ _____________________ ___ _________ 6712 671 2 ________ 65 65 ___ _ Georgia Pacific, 1st, gold - - - - 6 1175s 11758 ____ . ___ 11738 11914 1171s 1171s ___ _ _ _. _ ____ ____ 11314 11314 114 114 ___ _ _ ____ __ • ____ 104 lOt, . __ _ Knoxville & Ohio, 1st, gold-- 6 118 11814 1183411834 116 1181s 116 117 1173411734 __ __ _______ __ ____ _______ ________________ ___ _ Rich & Danville, con, i,told- -- 6 11112112 11218113 1113411214 11214112121121211258 112 1127s 1091410914 10914 1091 4 ___________________ _ Debenture, stamped-------5 __________________ ____ _______ ___ 103 103 ________________ 102141021 2 ________ 9912 991 2 ___ _ South Car & Georgia, lst---- 5 106 10618 _______ _ 106 106 ________ ____ ____ 104 104 104121041 2 105 105 __ ______ ___ ___ __ 95 95 95 96 Virginia Midland, Oen, 1936-- 5 ________ 111 111 ________ 110 110 1061210718 ____ _ ___ 103 103 ___ _ Stamped guaranteed- ----- 5 ___ _ ____ ____ ____ 10912110 107 107 ___________________ _ Wash O & W, lst--- -------4 9434 9618 ___ _ ____ - --- ---- ---- ---- ---- ---- ---- -- -- -- -\V No Car, 1st, cons----- - --- 6 1091210912 ___ _ _ ___ 1091410914 1081210812 ________ ___ _ ___ _ ________ 106121061 2 ___ _ Terminal of St Louis-lst---4 ½ 108 10s1 2 ____ _ ___ ______ __________________ 111 111 ___ _ 1st, cons, 1944 _____________ 5 1.17 117 ____ _ ___ 1121211212 1111411114 1111 2 1111 2 ___________ _ General refunding, 1953----- 4 9312 94 ____ ____ ____ _ ___________________________ 90 90 ____ _ ___ 86 -86Texas & ?acific, 1st, gold- - -- -5 11612118 11738 11814 114 11712 114 117 11434 11578 1111 2 113 112 113 11212 112s8 111 1121 2 11014 112 105 108 1041 2 10112 Toi & Ohw Cent- 1st, 1935 ____ 5 .... _______ __ ___________ 111 111 ________ _____ ___ 108 108 10734108 ___ __ ___ 108 108 100 iJ.00 \l5 95 General, gold, 1935 _____ ____ 5 1021210212 ________ 1021210212 _____ ___ 1001 2 102 ____ _ ____ ______ _ ___________________ _ Kan & M, 1st, guar, gold----4 97 97 ________________ 9034 91 9112 9112 ____ _ _________________ __ 8734 8734 80 85 ___ _ Toledo Peoria & Western-lst-4 89 89 8712 8712 80 80 85 8614 ________________ 80 82 83 84 ___ _ ____ 80 80 ________ 80 80 83 80 82 75 80 ___ _ Toledo St Louis & Western--3 ½ 87 8712 87 87 85 85 __ __ 861 861 ____ _ ___ 8312 831 2 82 R.ei,tistered---------------3 ½ ___ __ _____ ___ __ ________ ___ _____ _ 85 2 85 2 ____ _ ______ ________________ _ 50- year, gold, 1925------- -- 4 81 82 815s 82 81 8158 80 8012 7814 79 73 75 7312 7512 74 751 2 7312 75 60 73 55 60 59 671 2 Ulster& Delaware-lst,cons--5 ________________ 110 110 ___________________ _ ____________________________ 102 102 1021 1021 ___ _ 2 2 Union Pacific- 1947- - - - - -- - - -4 1013s 102 1003410134 9934 101 1005s 1021r 100 10214 10012 1017s 99 100 9612 100 9614 9912 9234 9912 93 99 9834 1011 2 R.egistered --------------- 4 10012l0ll4 l00l.2lOll2 98 10014 99 10018 ________ 981 2 1011.1 ________ 97 97 9634 9634 ---- ___ _ 93 96 991 2 991 20- year, convertible, 1927----4 __________________________ __ _______ ___ __________ 8914 93 871 2 9238 8412 881 2 7814 8738 79 843.1 g31 861 2 R.egistered- -------------- 4 ________________________________________ .... _____ ______ _ ___ ___ ______ ___ _ .. _____ _ ________ 9638 9632 4 4 Oregon R.R. & N_av, con----- -4 97 18 9912 9812 99 98 99 9758 99 98 99 9534 96 9534 9718 94 951 4 9334 95 9212 95 87 90 88 901 2 Oregon Short Lme, 1st- - - - - - 6 123 126 120121205g 12012121 1173411912 1191s 120 119 11912 120 126 1151 2 1161 2 11412 11534 113 11618 107 114 112 1141 2 . Oregon Short Line, 1st, cons-5 1123411314 1135s 114 _.• _ ___ . 111 11278 111 112 11112113 _. _. ____ 1011 2 10838 10712 1011 2 10712 108 100 10634 10614 108 Ouar refunding, 1929------ 4 9312 9434 9234 9412 88 9234 90 9314 90 93 8778 89 88 89 8534 8834 86 g71 8 75 8712 78 82 so1 2 8514 Utah & Northern, lst------- 7 ____ ____ 103 10312 ____ __ __ __ __ ____ ___ _ _ ___ 100 100 ___ _ Gold , 1926- - ----------- - -- - 5 _______ ____ _ .... ____ ____ 105121051 2 ___ _____ __ _________ ________ ___ _________ _ Vandalia, cons, gold----------4 ____ ____ ___ _ ____ ___ _ ________ __ _____ __ ___________ 941 2 941 2 ____________ ___ _ Va & S W-lst, guar---------5 110 11112 110 110 106 106 ____ 110 110 ____________________________ ____ 104 104 100 100 _______ _ Wabash-1st, gold. 1939- - - - - - i 113 114 11112 114 110 112 11012 11212 10112 10934 107 1os1 2 107 10s1 4 10678 1os1 4 105 1011 2 10312 10758 9958 1011 2 1011 2 1051 2 2d mort, gold, 1939 _________ 5 105 10512 100 10234 99 101 101 10112 10114 10112 99 1013s 1003810138 96 98 95 96 94 95 90 90 g918 90 Debenture, income, 1939, A--6 __ _________________ _____ ___ _______ ______ 90 90 ___ _ Debenture, income, 1939, B--6 7514 7612 71 75 57 61 60 68 6!Jl4 6!Jl2 ________ 61 61 ________ _______ _ 44 53 40 40 40 47 Certificates of deposi t------ 701s 75 6712 7112 5712 64 5812 65 6118 661 2 62 5218 _____ ______ ________ _ 1st lien equipment--- -------5 ________ 101 101 102 102 _____ ____________________________ _______ ___ _ 1st & refunding, 1956--- - ---4 ____ ---- 627s 6334 54 60 54 6614 611s 6712 6014 6312 6012 6134 5238 591 2 5312 58 3712 57 36 43 43 501 2 D&ChExt,1940-- --------- 5108 108 109 109 107 108 10858 109 ________________ 1011 2 1os1 4 1041 2 1041 2 104 104 104 105 ___ _ Omaha Di vision, 1941- ---- 3 ½ ________ 80 801s ____________________ ___________________________________ __ __ _ Toledo & Chicago Division ---4 ___ _ ____ ____ · ____ ___ ___ ___ ____ ___ 9638 951 2 __ _______________ __ ________ _ St Charles Bridge, lst-------6 102 102 ___ _ _ ___ 100 100 100 100 ____ ___ ____ _ ___ _ ___ ____ ___ ____ ___ __ _ 59 60t 2 53 Wabash- Pittsburgh Term-lst- 4 79 80 77 791s 70 7634 6912 757s 73 7578 691 2 71 681 2 70 551 8 69 681 2 58 66 70 60 15 2d, gold, 1954------------- -4 2914 :3212 28 30 20 275s 2412 2612 23 2434 20 24 2212 241 4 19 221 2 20 221 2 15 21 rns8 151 2 191 2 Wash Terminal, 1st, guar- -3 ½ ____ ____ __ __ ___ __ _____ ___ ___ ... . ___ _____ 87 8734 ___ _ 65 Western Maryland-lst- ------4 81 8212 80 8112 75 81 74 76 7458 765s 731 2 75 70 7178 65 7312 741 2 6978 75 69 5918 641 2 61 Gen & conv, gold, 1952-- - --- 4 66 68 6134 65 55 627s 55 58 54 57 _______ : 54 55 50 55 50 55 49 55 ________ 46 471 2 West N Y & Pa-1st. 1937- - -- _5 1143411514 115 11512 11112 11112 11412 115 11412 11412 11458 115 1121s 11214 1121 2 11314 111 112 112 112 ___ • General, 1943- - - - --------- - 4 9312 9312 ___ _ _ ___ 90 90 !JO 9012 8934 9034 ___________ _ Incomes, 1943 _____________ 5 ________ 34 34 ____ _ ______________ _ Wheeling & Lake Erie- lst-- --5 - --- - --- ___ _ ____ 108 108 ____ _ ___ 105121051 2 105 105 ___ _ 1st con, 1949----- ------- ---4 8712 8712 --- ---- 83 83 ____ _ ___ 78 78 76 77 76 76 __ _____ _ 71 71 20- year, equip, sinkingfund--5 ____ ____ ___ _ ____ 104 104 ___ _ Wisconsin Central Co-1st- - - -4 8612 89 87 8812 86 87 86 8714 84 88 85 86 84 8534 82 8434 82 8212 737g 8238 7212 77 74 8012 STREET RAILWAY B'klyn R.apid Transit-1945- - -5 105 10614 10612107 10612 10612 100 10114 1st, conv, 2002------ -------4 8!Jl2 923s 8714 8912 7934 8714 82 8612 B'klyn City, 1st, cons-- ----- 5 1023-110234 1031410314 _______ _ 10214 10312 B QC & S, con, guar----- ---5 ___________ _ ____ l0ll:il0ll2 100 100 B'klyn Union Elev, lst----4-510612108 104 105 100 10234 102 106 Stamped, guaranteed----4- 5 --- - ---- --- - --- - ---- ____ ---- - --- Portland R.Y , 1st and ref __ ___ 5 --- - ---- 96 85 85 101 103 100 10114 100 101 100 100 99 991 2 92 851 2 91 sots 85 8014 82 79 so1 2 7384 791 2 76 7g1 2 62 771 4 56 6658 61 71 ________ 1021 2 1021 2 1001 2 1001 2 1001 2 1001 2 1001 2 101 9918 1011 8 ___ ___ .. ___ _ ___ ___ ____________ ______ 9g1 2 100 9s1 2 9g1 2 957g 9518 ___ _ 10012104 101 105 102 104 981210134 99 100 98 99 85 9312 92 96 ____ ____ 102 102 102 10334 98 9812 98 98 - - -- ____ ---87 87 _______ _ __ ____ __ _________ ______________ _ ___ __ ______________ ___ ___ __ _ 88 88 8434 8612 8434 8712 8414 8412 8334 8334 8334 84 8014 82 80 8012 7934 80 77 7934 7612 79 82 8212 81 8212 82 86 8278 82•8 79 8112 82 82 82 82 80 80 _____ ___ 70 74 75 7512 ---___ _ 981210212 ____ ____ ____ _ ___ ---- __ __ ---- ___________ _ -. -_. _. ____ . _. _ 9834 9834 __ • _ _. _. __ . _ _ __ • 9734 9734 9714 9734 - _. - _ ••• _ _ _ _ ••• _ -- -___ _ ---- ____ 8612 8612 ---- ____ 85 85 ________ ---- -- -- ---7912 7912 --- ____ _______ _ 8012 83 ---- __ __ ___ __ ___________ ---- ___ _ ---- ____ 81 81 795s 8114 74 80 7558 8012 7334 791 2 721 2 75 7312 77 53 7414 6212 68 4938 6212 4712 5512 543-1 6112 ---- ---- ___ _____ 71 73 ________ 67 6912 69 6914 ____ _ ___ 62 6212 10612 1065s 105 106 10218 10412 10314 104 100 100 100 101 _••• ---- ---- 82 84 80 80 80 8014 75 75 75 761 2 ________ ___ _ 1103411178108 108 108 110 110 1101210412105 106141071 2 1041210412100 100 100 10012 --- - __ __ 96 96 1131811318 __________________________ ____ __ 109 109 10712109 105 105 103 103 ___ _ 1 1 1 1 12 -89-1 2 -86- -88- l~~l2 ~:12 "s°,51; -8212 -64- 70 48 6312 40 49 44 5012 ---- ---- ______ __ ---- ---- __________ __ ---· -- - - __________ __________ 55 55 ---113 11412 11212113 111 11114 111 111 110121111210834 110 ___ _ _ ___ 105 105 98 100 ___ _ ---- ---- ---- --- -1011210112 ---- -- -- ---- ---- -- - - Underground Electric Rys. of London profit-sharing ______ 5 Union Elevated (Chicago), lst. 5 United R,ys, St Louis---------4 United R.R.s. San Francisco----4 8812 8934 75 85 76 --- 85 85 83 85 82 81 82 781s 7818 76 Kings County Elev, lsL- ----4 Stamped, guaranteed------4 Nassau Electric, guar-------4 Conn R.Y & Lt-lst---------4 ½ Stamped, guaranteed- - _ - -4 ½ Detroit United-lst- -------4 ½ Havana Electric- 1952-- ------ 5 89 8812 8312 --- --•--- 91 lnterboro-Metropolitan, colL4 ½ 7934 89 88l2 85 ----.----93 82 lnternat'I Traction, coll tru st- -4 ---- ---Metropolitan Street R.Y, gen- __ 5 108 10834 R.efunding, 2002-------- ----4 84 85 B'way&7thAve,1943-- ---- 511012113 Col & 9th Ave, lst-------- --5 1131s1131s ~XA~;\~t;:a~:2000==== ==: 1-8818 "iiR.egistered ________ ______ 4 873-1 89 1st, 1937 ________________ 5 11234 11414 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 90 94 100 100 ---- ---8214 8314 l~~ ·ss· 7812 77 82 76 ~i ·ss· 77 81 81 7434 75 "si- 7014 7212 70 8012 81 67 70 i~~! ~b 70 ________ 6414 6414 ___ _ 7912 8012 --- 70 73 72 72 72 __ __ 79 79 --- 72 ________ 60 60 60 ---601g 94 RAILROAD AND MISCELLANEOUS BONDS. 1907-<Joncl111 ded. January February March Aprtl Ma y June July August September October November D ecember Low H1.{Jh Low H1.{Jh Low H1.{Jh Low H1.{Jh Low H1.{Jh Low H1.{Jh Low Ht(lh Low H1.{Jh Low Htgh Low Hl!Jh Low H1.{Jh Low H1.{Jh BONDS. - - - - - - - - - - - - --1--- - - - - - - - - - - - - - - - - - - - - - - - - - ----- --- - - - - - - - - - - - -- OAS AND ELECTRIC. 'Brooklyn Union Oas-1st- ____ 5 !Buffalo Oas-lst----- -------- 5 Consolidated Oas (New York)Conv deb 1909- ------------ 6 Detroit City Oas, 1923 ___ ___ __ 5 Detroit Oas, 1918- - - -- - - - - _- _5 Equitable Oas (NY), 1932 ____ 5 -Oeneral Electric-Deb, gold -3 ½ 10- year, deb, gold, 1911- ---- 5 Hudson County Oas-lst ,1949- 5 ·Kings County Elec Lt & PowPurchase moneY------------ 6 ·Laclede Oas-1st, gold - _______ 5 Refund and ext. 1934 ___ ___ _5 Milwaukee OaS=Light- lst--- -4 NY Elec Lt Heat & Power---- 5 Purchase money col tr, gold--4 Edison Elec Ill, 1st, 1910---- 5 N Y & Queens Elec & PowerCon, gold, 1930------------ 5 ·People's Oas Light & Cokelst, con, gold, 1943--- ------ 6 Refunding.1947 ____________ 5 Chic Oas-Lt & Coke, ls t---- 5 Consolidated Oas, 1st, 1936- _5 Mutual Fuel Oas , 1st, guar-- 5 -Union Elec Light & Pow- lst- - 5 Westchester Light ___________ 5 1061a 1065a 10612 1071a 106 6314 66 66 7312 63 107 70 135 138 13934 123 100 100 ---- -- ------------- ------------ ------- 133 13934 116 ---- ---- 100 ---- 105 105 --- 8614 8614 ---- ____ 80 87 __ __ 103 104 ---- ---- ____ 102 10234 ________ ---- ---991410112 80 8234 ____ 99 9912 10212 10234 102 102 ---- ---1021410312 8212 8314 116 11612 10212103 ---- ____ ---- ---991210312 81 84 100 100 99 115 11612 ---1011210212 10012 102 102 ---- ____ ---- _______ _ ---- ---- ---- ---- ---102 10314 9812100 ---80 8312 80 8214 80 1001210012 1001a 101 100 ------10212 102 102 10034 95 100 ---- ---- ---- ---- 104 104 91 9214 89 8934 88 89 10134102 90 9034 1087g 11012 91 9214 9012 9114 88 887s ___ _ ____ ________ 109 11034 ________ 1085g 11012 76 7912 74 7612 7614 7714 7514 7514 975g 99 98 987g 7612 79 75 7614 90 93 86 89 87 8812 98 9834 9212 93 10514 10912 1075s 1075g 7112 7434 72 7214 9412 9812 7212 74 - -- - -- - 91 9114 87 88 83 84 98 100 92 92 104141067s 105-34 10534 727s 745s ---- ---93 9714 7212 737s 8 89 88 8812 847a 85 99 9912 91 91 105 10714 ________ 7112 74 ---- ---91 967g 7112 7312 -~ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 95 80 70 91 ------- 100 ---- 781a 781g 89 89 - -- - 98 98 91 96 85 8712 86 88 87 89 8812 8912 ---- ---- 79 82 ---- ---- 1023410312 8812 8914 ________ 105 106 101 10612 1051g 10534 105 105 7134 73 6934 73 ---- ---- ________ 9212 94 9214 95 7134 7212 7214 73 8634 90 84 89 8212 85 95 ________________ 1061s 107 104 10512 10312 106 9014 9012 8912 90 8812 90 100 101 9712100 997s 100 993410014 9634 9934 947g 100 ________________ ___ _____ ---- ---- ---- ---- 70 70 96 96 95 95 96 96 ---- ---- 103 103 ---- ---106 10614 104 106 ___ __ __ _ 92 9312 8712 92 861s 885g 983s 99 9312 9858 9512 9934 9612 991 2 9838 991 4 941 2 99 9812 99 9812 9812 97 97 9612 9712 9314 97 9312 9412 ________ 95 107 10812 90 92 100 100 10014102 82 8212 ---- ---97 97 ________ 105 10512 93 95 9712 99 9758 991 8 9814 9834 9512 9712 102 10234 10212103 9834 10012 99 80 8412 95 95 105 10514 88 90 100 100 9834 100 83 83 ---- --- __ _____ _ ---- ---10234104 77 86 9514 9714 951g 9714 97 97 9314 94 99 14 99 813g 82 95 95 105 105 8712 88 100 100 97 99 84 84 ---- ---9612 9612 ---- ---10314104 7812 8112 95 9534 9458 957s 99 99 93 94 9934 99 _________ ____ ___ 101 101 ___ _ - -- - 101 101 ____ ____ ____ ____ 70 7014 6714 703g 68 85 85 87 -- -- ---- --- - 98 95 77 7912 65 933s 95 ___ _ ___ _ 95 95 92 92 92 93 93 93 93 93 9434 ---- 92 104 10714 --- - 107 96 100 8514 81 70 70 107 98 90 7112 ------- __ _ 100 93 ------ - 81 843g 70 8112 ________ ____ ____ 1017s 10514 88 88 88 88 9934 9934 97 9712 977g 98 947g 98 83 83 8312 8312 ---- ---- ---- ------- ____ 9?. 92 -- -- - --- -- -- ---10412105 104 104 77 80 78 80 9534 9712 901? 9714 961g 9734 90 ~ 9738 97 99 971? 9712 9114 92 8712 92 9914 93 70 8512 90 90 90 90 90 8734 883s --- - -- - ---- ---9312 9312 89 9314 97 90 5912 ---895s ------- 92 90 90 90 98 85 98 85 65 - --91 ___ _ --- - - -- - ---- 72 72 97 92 85 86 87 86 8614 84 8412 87 78 89 80 68 8234 8412 853a 75 72 75 97 98 9212 89 87 8712 85 86 --- 96 97 867a 867s 100 102 ------ __ 6314 6612 65 65 8812 91 6312 66 96 85 85 8512 5412 63 80 5334 96 8612 99 8512 64 63 87 6334 76 79 60 74 ---- ________ ---10512 10534 1043g 106 87 8712 ---- - ------ ___ _ ---- ---94 95 8912 90 ------92 92 90 95 ---1031410314 ---77 80 76 7712 9212 96 8614 95 9214 951 4 8412 95 ---- ---- ---871g 8814 50 88 951g 8812 ---- - --6212 62 6912 --- 88 8712 88 85 85 85 9912 96 10414104141051210512 89 90 90 9112 90 92 - _- ---- - -- - ---- 9812 98 92 94 ________ 88 89 ___ _____ 100 10234 861a 8678 95-3410334 96 10112 63 6812 ---- ____ 8814 91 6312 65 6812 69 8512 85 89 90 8412 COAL AND IRON. Buffalo & Susq lron-lsL-- -- 5 ____ ____ ___ _ Colorado Fuel & Iron-Oen, s LS 99121001a 95 96 95 95 ________ 91 91 88 90 Conv debentures , 1911 ------ 5 ____ ___ _ ____ 87 87 Colorado lndustriallst, coll tr, 1934 ____________ 5 731 4 751 4 671 2 7138 5934 6934 5212 65 58 6312 5612 60 Sunday Creek Co-- ----------- 5 78 7812 78 78 _______________________ _ ---- ____ Tenn Coal Iron & Ry-Oen ---- 5 9414 9514 94 95 94 95 93 95 ____ ____ 917s 92 Tennessee Division- --- - ---- 61061210612 ____________ ____________ 103 104 103 103 Birmingham Div. 1st, con ___ 5 105 10512 106 10612 10412106 105 10514 1051g 106 105 105 DeBardeleben Coal & Iron---6 ____ ____ ____ ____ ____ ___ _______ ______ ---Victor Fuel, i st-------------- 5 ____ 9312 931 2 ____ _ ___________ ---- ---Virginia Iron Coal & Coke- ls LS 95 98 95 96 90 92 90 92 9212 93 9212 93 Ann Arbor-1st 1995 gold_-4 Atch Topeka & Santa FeGeneral gold 1995 ________ 4 Registered ___________ -4 Adjustment gold 1995 ____ 4 Stamped _____________ 4 50-year conv gold 1955---4 10-year conv gold 1917 ___ 5 Deben series H 1910 _____ -4 Eastern Oklahoma Div lst-4 San Fe Pres & Phen 1st-- _5 Chicago & St Louis 1st ---6 Short Line (J P 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 S Ocala & Gulf gu 1918 g -4 B & 0-Prior lien g 1925--3 ½ Registered ----------3½ Gold 1948 ___ ________ ___ 4 Registered ___________ -4 Pitts June & J\'l DiV----3 ½ Pitts LE & W Va System-4 8212 7912 7912 77 10014 1001g 1001g - -- - 10134 99 ---- ---- ---- ---- ---- ---- --- - ---- ---- ---- ---- ---- ------- ---- ------- ---- ---- ____ ---- ---- ---- ---- ---- ____ ---- ---- ---- ___ _ - - -- ____ --- - ____ 7812 7812 MISCELLANEOUS. Adams Express-Coll- _______ -4 Chicago Junction & U S y ____ 5 lnternat Mercantile Marine - -4 ½ International Navigation, lst-- 5 New York Dock- 50-year---- -4 Providence Securities- _______ -4 Union Ferry _________________ 5 U S Reduction & Refining ____ 5 BONDS --- - --- - ---- ---- - --- --- 1015g 102 1001410134 99 ---- -- - - ---- - -- ----- - - --- ---- -95 85 103 116la1161s ___ _ ---____ 100 100 102 102 100 100 ------ 100 100 ------ - 1001g 10112 9912 10214 100 100 97 99 95 9612 91 96 104 104 ---- - - -- ---- 10212 103 102 997s 10012 97 10834 98 102 ---- ---- ---- ---- ---- ---- ---- 102 92 ---- ---- ---- ---- ---- - --- 86 1a 86 1a ---- 90 ---•---------- ---- 104 104 ---- --- - 98 98 8614 89 90 55 10834 95 105 10314 108 97 _ __ _ _ _ _ _ 9412 9412 i085s 11-01~ 10212 iriii- i06ig 109 - -95- ---- 102 ____ _ ___________ 1031210312 101 101 1003a1003s ___ _ ____ ---- ---- 100 100 103 10512 1001210012 102 102 ---- ---- ---- ___ _ 1001:?10012 1011410112 ____ ---- - - - - ---- - ------ 100 100 102 102 ---- ____ ------- 101 101 102 102 1011210112 ---- MANUFACTURING AND INDUSTRIAL. American Cotton Oil, 1915--- 4 ½ American Hide & Leather-lst-6 American Ice Securities, deb- --6 American Spirits Mfg.- lst ___ 5 American Thread-1st coll ----4 American Tobacco, 1944 ------6 Registered ----------------- 6 Gold, 1951----- ------------4 Registered __ ___________ -4 Central Leather, 20- yr, gold --- 5 Consolidated Tobacco, 50-year -4 Registered ----------------- 4 Corn Products Refining, 1931 -- 5 Distillers' Secur Corp-1st- ___ 5 lngersoll=R.and-1st---------- 5 International Paper-1s t- _____ 6 JCons, 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, sinkfund -- 6 U S Realty & Improvement- __ 5 US Steel Corporation-1963---5 Registered ----------------- 5 Virginia-Carolina Chemica1 ____ 5 Westinghouse El & Mfg, con v-- 5 1011a 8712 90 62 ________ ---- ==== ---- ---- --- ---- ---- 103 103 ---- ---- ---- ---- --~- ---- 95 90 10212 90 66 60 13414 117 13712 120 1251g 11812 12312 107 120 10514 112 94 100 100 100 100 100 9712 9712 975g 975g . 971g 9712 97 - --- 119 11912 119 119 102 102 102 103 TELEGRAPH. Amer Telephone & Telegraph-4 Commercial Cable- --- ------- -4 Registered ----------------- 4 Keystone Telephone, lst------ 5 Metropolitan Tel & Tel, lst--- 5 Michigan State Telephone _____ 5 Western Union Tel-1938- ___ _5 Fund & R E, 1950- ______ -4 ½ Mutual Union Tel, sink fund - 6 10158 101 66 66 - -- - - - - - - - - - --- - 100 100 ---- ---- 117 117 1041210518 1021210212 9112 9112 1021210312 8312 847a 10412 10512 10234 103 1011a 1011 2 101 67 68 ---- ---- 67 67 63 10612 107 65 66 85 4812 5812 50 ---86 8912 89 ----- -- ---- 101 9012 85 --- 65 --- 54 98 68 7812 7812 60 66 6712 10012 80 9612 8412 80 100 62 8234 83 85 6512 85 78 605g 63 8412 88 87 ---- 9314 9314 ---- ---- 80 80 75 75 5112 35 89 102 102 85 82 ------ - 85 ---- - --- --- - ---- --- - --- - ---- 10014 70 8612 86 86 60 57 85 5512 40 100 76 93 83 963,i 96 62 9014 78 ---- ---- 89 87 ---- 101 102 100 - --60 - --- ---- 80 --- - - --85 92 9434 5712 ---82 60 6112 53 8834 871!! 89 8412 85 85 85 85 - -- - - --82 82 86 93 8812 91 54 601s ---- ____ 78 8214 5414 5912 57 57 77 77 61 65 ---100 1037s 80 8212 ---- ____ 80 8934 9112 88 80 98 99 42 4112 4612 81 84 85 98 9734100 10014 100 102 ---- 98 99 ---- - --- ---- - --- ---- --- - ---- 9212 93 9034 93 8712 8712 85 8712 7812 7812 80 80 January FdJruary Aprtl Jun, July March May Aw,us: Seple:mber October Nove:mb ~r D e;ember Low High Low High Low H igh Low High Low Hi!lh Low High Low H O.git Low Hlgh Low Hi(Jlz Low Hlgh Low H igh Low H igh 80 80 957g 10112 9512100 83 8814 8212 89 8612 8912 9412 9834 -- ----- -- -- --- ---- ---- --8712 -- 977g 10014 97 -- - 8534 8014 8712 86 8534 8812 86 96 9812 96 ---- ---- 9612 - -- .~ ---86 88 ---- ------ - -- -- -- -90 --- - ---901g 9312 8912 8912 9612102 ---- ---- --- 87 - ---- ----- - - - - - - - - ---------- ----------- - - -8014 84 8012 80 79 8112 7812 7812 78 80 85 82 84 85t~ 85 86 78 8012 8012 8012 8012 79 9212 -- - - ---- 9912 9634 9712 96 96 86 8712 865s 8614 8734 8812 87 8934 975g 973g 101 9612 ---- ------- ---- 96 96 -- - - - -- - - --- - --- ---865g ---- ---- ---- ---- - - - - - - - - -- - - - - -- ---- 8934 8434 8634 8412 8714 76 74 75 7612 75 - --- ---- 1111211112 ---- - ------ - --- ---- ---- - - -90 9214 90 91 9014 92 90 90 - --981410112 9812100 9714 9814 ---- --- - 9512 9612 ------- -- -- - - - - - --- ---- ---90 90 9112 89 9012 89 80 75 ---- 9714 991g 973g 9812 9734 991g 9634 97 98 98 88 91 86 8812 8614 89 8514 87 8612 87 8612 8812 8912 9334 8934 9158 9012 95 9912 10012 9912 1025g 101 103 - --- ---- -- -- ---- -- -- ---9514 97 96 9614 9738 97 --- - - - -- - - -- - --- - --- -- -109 109 - --- -- -- - --- --- -- - -- -- -- - - -- - - -- - - - 93 91 88 9014 93 9334 79 83 8012 8212 8112 83 1235g 124 ---- ----- -- --- ---94 9012 9312 92 9112 93 - - - - - - -- - - - -- - -- - - -- 981g 9834 9833 100 9734 99 95 95 - --- -- - - 9514 9514 3 8312 88 ---- --901g -- 83 905g 8812 9012 9134 92 -- -- 987g 1005g 9934 98 921g 88 8738 90 9734 95 10214 10414 - --- - -- 97 97 -- -- - -- - --- --- --- - -- -94 96 8414 88 - --- ---9312 9312 9212 93 - - - - ---9914 10078 - -- - - -- 86 86 93 93 1005g 10112 99 lOO~s 99 99 100 99 951g 9112 941 2 94 90 921 2 921g 93 95 973-1 9512 10034 10112 10414 103 1053b -- -- - --- - --- - -- 9714 98 98 98 ---- - --- -- - - ---- --- - - - - - --- ---951g 9512 9514 97 9514 941g 95 93 8634 8878 8612 88 100 !19 91 101 100 917g 92 !H 10012105 1051g 108 - --- - -- 9812 98 ---- - -- -· - -- - -- 9612 ll7 9412 96 853s 87 10014 10134 9834100 9114 93 9134 !14 1011.1104 105 107 - - -- - --9812 !)~12 10912 10912 - -- - - - - !)(j~g 97:Jg 955g 9Glz 8G34 8 12 ---- --- - ---- ---- ---- ---- --- - - --- ---9234 9312 - -- - - - -10014 10] 34 9312 9414 -- - !)834 99fib - - - - - --- - -- - -- -8712 90 90 87 9434 9534 95111 96 - -- - 943g 9434 9412 9534 - -- - - - -- -- - -- - - - - 99141003,1 100 ---- - --- 98 - -- - - --- 8914 94 97 9614 )0114 98 8914 97 RAILROAD BONDS. 95 1908-Continued. BONDS J anuary February M arch AprU May J une 5u,y. August September October November D ecember Low High L ow H igh Low H tgh Low H t gh L ow H tgh Low H t,gh L ow H t,gh Low H tgh L ow High Low Htgh Low High Low H tgh - - - - -- -- - - - - -1----·- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - --1---- B & 0-(Gonc, .) Southwestern Div 1st g_3 ½ Ohio Riv 1st 1936 gold ___ _5 General gold 1937 ______ 5 Pitts & West 1st 1917 g _-4 Buff Roch & Pitts- Gen •37 _5 Consol 1957 ------··- - - -4 ½ Uear & Mahon 1s t gu '43 g.5 Roch & Pitts 1st 1922 - -- -6 Cons 1922 _______ _____ _6 Buff & Susque-l s t reL - - -4 Cana da Southern- 1s t g u __ 5 JP Morgan & Co certificates 1s t extended 1913 ___ ____- 6 2 d 1913 ______ __ ________ 5 Central of Georgia-1st 1945.5 Con sol 1945 gold- - -- ----5 1st vreference income----5 Stampe d __________ __ __ Tru st Co certificates- - - 2d vreference income-- -- -5 8334 89 ____ ____ ____ ____ ____ ____ 11 4 851 2 8934 86 8738 8658 88 ____ 108 108 ____ 1011 2 1011 2 ____ ___ _ ___ _ 114 ___ _________ 11 7 117 ____ ____ ________ 117 11 7 ________ 91 91 871 2 8934 891g 8934 8712 8912 8834 8912 8912 9212 911s 9134 915s 9214 917s 9314 ---- ---- ---- ---- ---- ------- ---- ------- 101 101 1101 2 1101 2 ___ _ ___ _ ___ _ ____ 1131211312 ---- ---- ---- ---- ---- ---- 116 116 ---- ---___________ _ ____________ ------- --- - - - -- ------·· 106 106 ____ ___ _ ___ _ ____ 103 103 ---- ____ ---- ____ ------- ---- ---11514 11 51 4 ________ 118 118 ------- 1191211912 ------- ---- ---____ ___ _ ____ ---- 1201s 1215s. ____ __ __ ____ _ ___ 8712 8712 ---- ---- 88 S\:I ---- ---- ---· ---- ______ __ ___ _ 110 110 110 110 ____ ---- ---- ---- 10814 lll ______ ___ ___ 10034 10034 ___ __ ___ --- - __ __ ---- - --- 109 109 ____ ___ _ ____ ___ _ ____________ ---- 10458 10458 ____ ____ ____ ____ ____ ____ 10214 10514 10414 106 105 106 1057s 10712 ____ ____ ____ ____ ____ ____ 1071 8 10734 9814 10 1 10078 101 981 2 99 9814 9934 _ _ __ _ ___ --- - ---- ---- ____ __ ____ __ ____ ---- ---- ---- ---10738 1081 8 1083s 111 1071s 10712 1067s 10712 1001 2 10112 10214 10312 103 1031210412105 _______ _ ________________________ 112 112 ________ ---- ____________ 971 4 10214 99 100 99 102 10212 107 10378 1051 8 104141051,1 10434 1073s 106 10934 65 70 62 62 55 621 65 691 70 6412 75 73 71 71 71 73 ____ _______ _ ____2 65 65 2 70 711 2 ________ 73 73 ____ ___ _ ____ ____ ____ ____ ____ ____ ____ 45 46 45 46 45 i~ i~ ~iii; ~~ 2 ~i12 50 45 4614 475s 53 447s 54 ~f 2 ~~ ____________ 52 52 :glz -~~~4 _3_6_3: !:38 itag ~~:: :g\2 -~~50 ==== -~~~2 ____ 45 -~~- 39 ---- ---- ---- ---- ---1071s 108 1011410212 ---- __ __ 1081211o;;s 64 64 ____ ---- ____ --- - 48 Sti ~ ~i'h-c;itificit; s"": :: -~~- 45 ____ ==== -~~~2 _4_5~: -~~- 481 Stamped __ _______ _____ ____ ____ ____ ____ ____ ____ ____ Sdsf!~~~dnc~_i_n_c_o_~~=====~ :r2 ifJ g ~g ---- ---- ---- ---106:J~ 10712 1011210212 114 114 108 1093.1 55 65 ____ 38 ---- ---- ---- ---1075s 1085s 1081210914. 1013410212102121031-1 ---- ____ 1163411634 108 109 10S34 1091s. 65 78 78 81 78 78 7S 80 4514 4012 64 6112 64 2 ~~1 GO 60 63 63 :r-1 45 :~12 ~~ ~~ ~i ~~14 ~~14 Trust Co certs stam ped __ ---- _____ _______ --- - ____ ---____ ---- - --- ---- ---- ---- ---- ---4012 45 Chattanooi;a Div 1951_ __ -4 ________ 895s 8958 ____ ____ ____ _ ___ ---- ---- ---- ---- ---- ---- - --____ ---- ---- ---Macon & Nor Div 1st ___ __5 ________ 1001210012 ____________ ____________ 1047s 1047s ---- ____ ---- ---- ---- ____ ---- ____ ---- ____ ---Central RR & Banki ng Ga--5 100 100 92 92 95 100 ___ _ 9834 9834 100 100 99 101 1005g 104 1061210612 1051410614 1031210312 106 10712Central of Ne w Jerse yGeneral 1987 ii;old _______ _5 117 123 1211 2 1221 2 12212 124 122 124 124 1245s 124 12458 12112 123 122 123 1231 8 12438 125 12512 12612 12734 12!Jl4 13014Re gistered _______ __ ___5 ______ __ 1201 1201 1211s 1211 2 122 122 ________ 121 121 12012120~4 121 12114 -·-- ---- ---- ---- 124 1412414 ---- -- - Amer Dock & lmvL- ---- 5 ________ 107 8 108148 __ __ _________ _______ __ __ 109 109 1071210712 ---- ---- 109341093J 1101211012 111 111 ---- ---Lehigh & W- 8 Coal 1912 -- 5 98 98 ________________ 98 98 __ ______ --- ---- ---- ---- 101 101 ---- ---- 1001210012 9834 99 100 100 100 100 100 10014 10038 1oos8 1005s 101 100 1001s Cons ext 1910 gu- ----4 ½ 9912 9912 9834 9834 9812 9812 9914 100 991 2 100 Chesa peake & OhioSeries A 1908 gold ___ ____ 6 10 1 102 102 1021 103 103 10012 1005g 10034 101 101 101 ___________________________________ _ Mort gage 1911 go\d ____ __ 6 ________ 103 103 2 1051s 10518 102 10218 10258 104 ___________ _ ____________ 105 10.5 ________________ 1031210312 1 st con sol 1939 gold- -- ___ 5 10712 11134 1081 2 11 2 10812 110 11014 11 414 11 11 8 11 2 11 2 11 214 11 2 11334 11334 1151s 115 116 115 116!2 11412115 115 1155s General 1992 gold ____ _-4 ½ 96 1015s 991 1011 97 9812 97 99 99 10134 10014 10134100121021s 10112 10278 1001210214 10114 10312 10234105 10434 10734Big San dy 1st 1944 _____ -4 ___ _ ____ ____2 ____4 ____ ____ __ __ ____________________ 891 4 391 2 89;;8 90 90 9214 9112 9214 90 9214 R & A Div 1st cons 1989 g . 4 9112 9612 94 12 951 2 9334 9412 94 9 5 95 971 4 9812 99 96 96 97 99 ____ 99 100 100 101 1001410012 2d cons 1989 g __ ___ ___ -4 _____ ___ 92 92 ________ 89 91 9212 9212 ---- ____ 9312 9312 ___ __ ___________________ ---- ---- ---- ---Greenbrier 1st gu 1940 __-4 ___ _ ____ ---- ---- ____ ____ ____ 95 95 ________ ---- ---- ---- ---Ch icago & Alton- Ref '49 g _3 75 76 70 78 6734 70 70 70 74 74 7214 74 75 771 4 77 7734 7612 7712 78 78 7814 793sChic & Alt RY 1st '50 g_3 ½ 6214 64 60 63 60 6114 62 6312 62 68 66 68 6414 671:i 67 68 6812 7212 71 7(i12 76 775s 7612 77 12 Chic Burling ton & QuincyGeneral 1958 __________ __ -4 ____ ____ ____ 97 9734 97 98 9758 9834 9812 10078 9858 9934 98 101 1001s 1015g 1013s 10314 Denver Division 1922 ___ -4 98 1001 2 97 97 9758 98 98 9878 9 g1 2 100 100 10014 100 1001 2 991 2 9912 99 9914 9934100 1001s 10012 101 101 Illinois Di vision 1949 __ 3 ½ 86 9012 8814 901 8 88 8834 88 891 4 881 2 90 8812 8912 8758 8814 88 903s 9014 9112 91 9212 92as 93 \J3 93 34 Registered -------- - - 3 ½ ____ ---·· _______________________ _ ________ 8634 8634 ______ ________________ .. ____________ ---- 9134 9134. 1 Illinois Divi sion 1949 __ _-4 971 8 10158 9938 10 11 2 981 2 991 2 991 4 1001 4 10018 1011 4 101 10134 99s8 1001 2 10014 102 10112 10212 10134103 1023410312 103 2 105 Registered _________ ___ 4 ___ _ _________________________________________________________ ______ _ ____________ 1011s !Olis---- ---Iowa Division 1919 s f_ _ _ 5 106 106 ___________ _ ___________ _ ________________ 10512 10512 __ _________ _ ____ 104341043.1 ________ ---- ---Iowa Division 1919 s f__-4 96 9834 9814 991 2 ___ _ ____ 98 98 ________ 98 9812 1001210012 ________ 101 101 !J97g 100 1001.110014 ---- ---Nebraska Ext 1927 _____ -4 99 9978 1001 8 1001 8 991 2 10014 1001 4 10134 100 10 134 99 99 931 8 99 101 10112 10114 10112 102 10212 1005s 1005s 10034 10 112: _ _______ --·- 1015s 1015g ---- ---- ---Regi stered __ ___ ______ -4 ___ _ ____________________________ 1011 2 1011 2 ____ ____ ____ Deben ture 1913 ___ __ ____ _5 9714 101 100 1011 101 10 11 21021 1031 101 10134 !O lis 102 ____________ ____ 1021210212 ________ 101341()134 ---Hannibal & St Jos cons-- - 6 __ __ ____ 10558 105548 ___ _ __ _ _ 104782 104782 _________________________ _ _________ _ ____ 104141045 ________ 105 10512 Chic & East Ill refund ____ _-4 ___________________ _ ________ ________________ _________ _______________ ____ 8214 83 8 85 87 87 88 1st consol 1934 g _____ ___ 6 ________________________________________________________ 122 122 ____ ____ ____ _ ___ ---- ---General cons 1st 1937 ____ 5 1051 11 11 1101 112 1091 111 110 1121 2 110 11 2 1111211212 111 1121 2 113 1133s 113 1131s 115 1161g 114 114 1153sl153-1. Chic & Ind Coal Ry lst_ ___ 5 109342 109342 ____2 ________2 ____________________ --- - - --- 107 107 ___________________ _ Chic Ind & Lou- Ref '47 g __6 11712 11112 ________ 11714 118 12014 12014 12234 125 ---- - - - - 124 1261.1 12614 12612 12912130 129 130 130121305s - - -Refunding 1947 g __ ______ 5 ________________________________________________ 106 106 ________ 106 108 ________________ ---Lou NA & Chic 1st 1910--6 100 100121011 2 1011 2 1003410112 ____ __________ __ - - -- --- - 1017s 10238 10234 10234 ________________ 1043s 1043s ---Chic Milwaukee & St PaulTerminal 1914 gold _____ _5 ___ _ __ __________ 10312 10312 ________ 1051 8 106 ________ 10314 10314 -·-- ____ 10414 10414 __________ ______ 1067s 1067g: Oen series A 1989 gold __ _ -4 100 102 102 103 103 103 103 103 102 103 102 10212 101 10114 10114 102 102 1031? 1033.1 1U3-3J 104 10414 104 10414 Registered ______ ____ __ 4 ___ _ _______________ _ _______ _ ___________________ _ ___________________ _ ____ 10312 10312 ________ ---- ---Gen series B 1989 g ____ 3 ½ 8 7 9034 89 89 87 88 8514 88 881 2 891 4 8914 8934 871 2 8712 8878 90 8934 9112 91 915s 92 95 92 92 Chic & Mo River DiV-----5 ____ _______ _ ______ __ ____ 110 111 11134 11134 - - - - -- - - ____ ____ 11oa8 11114 112 11 2 _______________ ---- ---Chic & Pacific DiV- ------6 ____ ____ 104 104 ___ _ ____ 10434 10434 10412 10412 ___ _ _ ___________________________________ 1041410414 10414104 12' Chic & Pac West DiV- --- - 5 10838 110 1081 2 110 10812 109 109 10934 1095s 11012 11034 1 1112 10878 10914 110 1101211012 11012 11012 lllls 111 11112 11134. 11 2 Dakota & Ot Southern ___ 51061 2 1061 2 10414 10414 ___ ___ __ 1045s 1045f ____ ____ --- - -- - - ________ 105 10514 106 106 . _______________ 108 108 H & D Div 1st 1910 ______ 7 10212 10212 ____ ______ ___ ______ _ ______ ____ __ --- - -- - - 10434 10434 104:Js 1043s ________ 10512 10512 1053s 10.">34 1053-1 1057s 1st 1910 ___ ___ __ ____ __5 __ __ _____ ___ _______ __ ___ 1013s 10134 _______ _ - - -- - --- ________ ---- ---- ________ ---- ____ ---- ---- ---- ---La Crosse & Dav 1st 1919-5 ________ 10634 10634 ___ _ ___ _ 1071210712 I 08ts 1081s ---- ---- ___________________ _ ___________ _ 1091210912 -- - - ---Mineral Point DiV--------5 1001210034 1003s 1003s ___ _ _____ ____________ ___ -- - - ---- 1007s 10073 ________________ 102121027s ____ ---- - --- --- So Minn Div 1st 1910 _____ 6 10014 102 1021 8 103 103 1031g,l 04 ls 1041s ________ 1045s 1045s 103 103 10178 103 1021 8 1027s 10334 1037s 1037s 1041s 1043s 1043s Southwest Div 1st 1909- --6 101 10 1 ____________ ____ 1031.110312 1031g 1031s - - - - - - - - ________________ 1021 8 1021s 1027s 1027s 1031s 1031s 1031410312 Wisc & Minn DiV- - - -----5 108 108 1081s 1081s 10812 10812 10814 10814 _____ ___ __ __ ____ 109 10912 10914 10914 1091210912 ________ 11 1 111 Mil & No 1st m 11910 __ __6 _________ ___ ___ _ _____ __ _ 1051s 1051g ___ _ ____ - - -- - --- _____________________________ ___ 1051410514 ---- --- 1st consol 1913 __ ______ 6 10814 10812 ___________ _ _______________ _ ____ - - -- ---- ________________ 109 109 1101s 1101s ____ ---- 10712 1075s Chic & Northwest-1915 ___ 7 116 118 117 11 7 117 118 ll 8 ll 8l2 11 7 118 ll 53s ll 734 11 7 11734 __ .•• ____ 116 11112 ll75s 11753 116141185s ll714 11712 Extension 1886-1926 ____ -4 ____ ____ ____ _________ _______ __ __ 99 99 __ __________________ • _____________ _ Registered _____ _____ _ -4 9834 9834 ____ _ ___ 9812 9812 ___________________________________________________ _ Oeneral 1987 gold----- - 3 ½ 90 90 91 9 134 91 91 9234 9234 9134 92 9134 91 34 911 2 9212 89 9212 9212 95 9412 9412 95 96 Registered ----- - -- - - 3 ½ - --- -- -- --- ---- ---- ---- ---- ---- ---- ---- ________ 89 89 ___ _ Sinking fund 1879-1929---6 ____ ____ ____ ---- 10712 1091211 11211 11 2 -- -- ---- ___________________________________ _ Registered - -- --- -- - - - -6 1081210812 __ __ ---- ___ _ ____________ ---- ---- ________ 110 110 ___ _ _______________ _ Sinking fund 1879-1929---5 ____________ ___ _ 108 109 ______ __________ I JS12 1081:i 1091 2 1091!) ____________ _______________ _ Debenture 1909 _________ _5 1001s 101 ________ 101 102 102 102141001 8 10034 1003410034 1011 4 10134 ________ 10118 10118 l0:l34 10234 100,8 1011~ 1011.11013s Registered ____________ 5 ____ ____ 1011 2 1011 2 ___ _ ____ 1001410014 1001410014 ____ _ ___________________ 9912 9934 10034101 Debenture 1921_ _________ 5 ____ ____ 105 1051s _____ ___ ___________ __ ___ - - -____ 108 108 10834 1083d ________ 108 108 Sinking fund deb 1933 ____ 5 ________ 1081210812 ____ ---- _______ _ lOJ JOJ --- - 109 109 ________ 112 112 11314 1133s 1113411134 llO 110 Regi s tered ___ _______ __ 5 ---____ 107 107 ____ ____ ____ ___ _ _ ______ _ ___ _ Northern Illinois 1st __ ____ 5 __ __ _______ _ _______ ____ _ 1013410134 ---____ 10214 10214 Ottumwa CF&. St P lsL-5 ------- 1:i11s 1011s --- ___ _ 101 101 ____ ---- ---- ---Mil LS & W 1st 1921 g ___ 6 ___ _ ____ 118 118 118 118 11 11 ':,3.i ____ _ ___ 1191 1193 ________ ··-- _______ _ ____ 119121205s 2 4 Ext & imp 1929 g _____ _5 - ------ llO 11012 111 111 ---- 11314 11314 ____ _ ______________ _ Chic Rock Isl & Pacific RyMortgage 1911--------- - 6112 112 11212 113 112 11214 113ls l1314 115 115 11 512 11 5121121 2 1121~ ________ 115 11 5 115 11514 1157sll6 116 1161s Regi s tered - -- - --------6 --- - ____ ____ - --- 115 11 5 ________ ---- ----11212 11212 _____ ___________________ ---· ---- ---- ---9558 9712 98 Oeneral 1988 gold- -- - ----4 941410012 95 99 94 96 9514 98 975s 99 9714 9834 95 96 941 2 96 9912 99:is101 1003410214 Re gistere d __ ___ ______ -4 ____ ____ ____ . _. _ ____ _. __ 961 2 97 _ _ _ _ __ _ _ _ ____ . _ _ _ __ . _ _ _ _ _ _ _ _ _ __ _ _ . _. 9734 9734 ~efundin g 1934 gold ____ -4 8312 871s 86 867s 86 87 8434 8612 8614 88 85 875s 84 8512 3414 86 8912 92 8538 891 4 861 2 8712 8712 90 Registered --------- - -- 4 ---- ---- ------- ---- ---- -- ------ ---____ 8514 8514 ________________ ---- ---- ---Collat trust ser O 1917 ___ -4 ---- ____ ---____________________ ---- ---- ___________ _ ____________________ 90 90 CR I & P RR 2002 ___ ___ -4 597s 643s 5534 6134 57 6312 6112 6812 641s 69 6014 6634 621 2 6658 541 2 681 8 60 7212 7114 7414 7012 747s 74 79 Registered ··-- ______ ___ 4 6214 6214 ---- ____ ____ ____ ____ ___ _ ____ _ ___ 65 65 ________________________ ---- ---Coll trust 1913 gold - - - -5 68 76 5912 72 6112 67 6312 733.i 70 75 63 72 60 67 61 6812 6012 7112 6034 77 747s 7912 7912 911 2 Bur CR & No 1934 g ___ __ 5 106 11 1 111 111 1107gll07s ___ _ - · -- ________________ 116 11638 ll6 1167g 1151211512Choc O & Gulf 1919 g ___ _ _ 51041210412 ------- ___ _ ____ ____ _ ___ 102 102 ___ ___ ______ • _______ ---- ---- ---Consol 1952 g _______ _ _ _ 5 ____ __ __ ____ ____ ____ ____ ____ _______________ _ ____ 109 109 1071210712 ____ ___ _ Keok & Des Moines lst ___ 5 9834100 ___ _ _ ______ _ ____________ lU014 lOOl4 ________________ lOil2 lO ll2 ____________ ---- 104 10414 Chic St P Minn&. Omaha-- -6 121 12612 __ __ _ ___ 12034 127 1281212812 12614127 12614 12714 1271 2 11!8 ____ 1291s 1297s 13114132 12812 130 Chic St P & Minn 1st g - - - 6 124 124 ____ ____ ____ _ ___________________________ 12114 12714 ____________________ ---- 12912130 StPaul&SiouxCitylst g_ 6l16l2 1171 2 117 11 7 1173g ll73s l1 6 116 116 ll6 11512 11 51211558 11 5s8 11634 11634 ____________ •••• 11 7 117 117 118 Chic& West Indiana-1932-6 ____ ____ 112 113 __ __ 11 2 112 112 11 2 ____ _ ___ 112:;8113 ---- ---- 1125g l13 Consol 50- year 1952 _____ 4 94 9514 !!514 9514 __ __ ____ 91 94 9434 9434 ___ _ 94 951, ____ 97 100 C:n Ham & Da yton Cin Day & I 1st gu '41 g ___ 5 ___ _ 96 ---- 96 Cin Ind & W 1st gu '53 g _-4 __ __ • - _ _ 70 70 70 70 ____ tlO Ind Dec & W 1st 1935 g __ 5 ___ _ 91 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 96 RAILROAD BONDS. 1908-Continued. l March January Februar11 .Aprtl May Junt. July August S ·p'nnber Oaober Nov ;mber Dxeml>er Low Htgh Low H tgh Low Htgh Low Htgh Low Htgh Low Htgh Low Htgh Low Htr,ll i o·o Htgh Low Htgh Low Hi(Jh Low Ht(Jh BONDS ---------------- -9312- ----- -- - - - - - - - - - ---- - -- ·- - --3 ---- - - -,--ClevCin Chi & St L-'93 ir--4 94 98 97 9212 94 95 963s 9512 973s 92 95 94 9714 94 14 !l512 95 96 4 9614 9712 97 9912 97 14 9814 Caito Div 1st1939 c------' C!n Wab & Mich Div 1st ir-4 St Louis Div 1st 1990 ir---4 Sprtng & Col Div 1st ____ -4 CI St L & C 1st 1936 ir.--4 R.egistered ············4 Cin San & Cl cons 1st g .. 5 CCC & I cons 19U.--·-·7 Oen cons 1934 gold .. ... 6 Ind B & W 1st pref ••••• -4 Peo & East 1st cons 1940-'i Incomes 1990 ••••••••• -4 Colorado Midland-1st c .. -4 Colo & Sou-1st 1929 g_._-4 R.efund & exten 1935 .. -4 ½ Ft Worth & DC 1st .... -.6 Cuba RR- ·lst 1952 gold- .. -5 Delaware Lacka & WesternMorris & Essex 1st 1914 .. 7 ------____ ________ 92 ___ _ ---- - --- 96 ____ 90 92 ____ 93 93 -··- 9514 9514 ---- ---- - - -- ____ ____ ____ ____ -··____ ____ 85 90 45 60 5512 62 82 9078 751 2 111 2 104 110 90 ·--- 114 114 ___ _ 120 121 ·--- ____ ____ 8812 8812 49 55 59 6134 8512 8812 733s 77 1081 2 109 87 8812 46 50 5812 5912 86 88 73 77 106 10778 87 90 4214 45 59 61 87 8934 767s s214 10612108 ---- --- - ---- ·--- ---· ·--- 91 91 96 ---- ---- ---- ---- ---- ---- ---- ---- -- -- ---- - --- ---- ---- --- - ---- ---- ---- ---- ---- ---- 9514 9514 9134 9134 93's 931s 93 93 5~ 96 14 96 14 96 _ _______ ___________ ---- ---- -- -___ _ ··-- 9714 97 14 97 97 --- - -·-- 991s --- ---- -- -· ··-- - - -- ---- ---- ---- 97 ____ ____ ---· ________ -·-- 1061:i 10612 --- ____ ---· -·-- __ __ ·--- 1143-11143-1 __ _ _ ____ 12414 12414 12414124141251212512 126 94 95 ---94 94 ---- --- - - --- --- - ---89 90 8914 913,. 9034 91 917s 9214 90 44 48 45 47 35 39 39 41 40 4112 401s 607s 621s 62 63 62 62 63 65 66 68 66 88 90 8912 90 893-1 93 9034 9212 92 9414 94 7812 8034 7812 7934 781 4 8078 8 1 8434 84 8612 86 1081 2 110 106 1061:, 108 1091 2 1101 2 11114 ll214 l141 ~ ll3 ____ ·--- - -·- ---- ---· ____ -- -· ____ ---· ·--- ---· ________ 1141411812 __ _ _ ____ 11118 1111 8 ---· ·--- ________ ---· ---1 st cons gu 1915 •••• • •• 7 ---- ---- ------- ---- ·--- 1201412012 ---- ---· ------- ---- ---_ _ _ 1085g 109 ___ • ---Construction 1923 •••••. 5 ---· ---- ------ - 971g 971g 99 99 ---Terminal & imp 1923 ••• -4 ---- ---- -- -Del & Hudson- Penn Div ••• 7 123 123 ___ _ ----1211212112 ---· ____________________________ 1st & refunding 1943 •••• -4 ---- ---- ---97 9612 99 98 100 9612 100 Convertible, 1916 ••••• _. -4 9412 987s 95 97 96 97 ____ ____ ____ ____ ___ _ 1st lien equip 1922 _ ••• -4 ½ 96 9614 ________ 97 95 93 963 9514 96 95 9534 Alb & Susq con v 1946 g.3 ½ 9134 9712 9212 96 94 8 Registered ·-·--·-··· 3 ½ ---- ---- ---- ---- ------- ---- ---- ---Rcnss & Sara 1st 1921.- .. 7 ---- ---- 1281212812 - --· NY Lack & West 1st '21.-6 1161211612 -- - · ---- 117 117 117 117 1181s 1181g ________ 1121411214 98 100 --- - ---- 117121177~ ____ ___ ___ __ 121 121 l2J1212412 112 112 ---- ------- ---- ---- 963.i ---991s 97 --·- ---- 9512 - - -9912 ----- -· ---- ---- 95 7s 96 ____ -- -9912 -- -· ·-· - ---53 56 50 ---118 113 10814 lll 112 ------Long Dock cons 1935 g.-.6 121 122°8 124 Dock & impt 1st 1913 ..... 6 ____ N Y & Green Lake gu g ... 5 ---- ---- lJO 50 40 48 112 111 111 124 ____ 106 100 48 5234 130 130 ---- ---· ---- -·-- ---- - - -9312 95 93 931z 45 5512 551s 57 ti81s 74 14 73 84 95 96 96 9912 8534. 88~J 8734 9734 11.:h 115 1153.! 114 11514 ________ ___ _____ ---· ---- ·--ll91411912 ________ 112 112 100 102 11453115 1201g 120111 125 125 ---- ---1001410014 !1412 115 ____ - - -· ____ ---· . --- -- -1001410014 a98t 4 993g a98tg 10058 1003s 10112 1007s 10214 97 991 4 991 4 101 9912 10238 100 101 _ ____________ _______________ - 9,~ - 9534 9534 98 98 983x 951 4 9712 ---- 96 96 ---- ---- ------- -- -- ---- 10012 1011s 102 104 1031 10412 8 963g 99 -- - - ---129 129 101 10212 101 105 10314104 9834 100 ------- ---· 517s 56 49 56 51 11012110,1410812110 110 110 112 68h 5734 551 2 571 4 571; 59 ____ 115 115 --- 112 ___ _ 'ill? ___________ _ 63 591.1 t51• 65 6212 -- -- ---- 114 115 11 3 70 97 9914 1033J 10334 100 103 951g 80 90 84 114 98 80 90 84 ll5 104 --- . --- 125 1:/7 103 8914 £9012 7314 (7612 8(jl:i )-.75g 77 79 ti6 69 11,>lg 11511111.534 ------ --- _ ___ 100 100 . :.112 1:/8 _______ _ 106 ---- _______ _ ---- -·-- _______ _ 110 126 ---935s 401s 681A 96 R83t Denver & Rio Orandelst consol 1936 gold ..... -4 93 95 92 9512 9012 92 9014 9014 9034 9334 9112 921:i 89 92 921 2 93 9212 94 9234 97 961s 97 Consol 1936 gold ...... 4 ½ 98 98 ---· ___ ___ __________ ·- -Improvement 1928 gold .. 5 100 100 ---- ---- - --- ---- ---· ---- S4 94 9412 95 96 9712 96 99 100 1003.1 ___ _ --- · Rio G June 1st gu g ... ... 5 ________ 97 98 ---- ---- ---Rio G Sou 1st 1940 guar .. 4 ---- ---- - --85 85 __________ _ 9312 9612 93 Rio G West 1st 1939 g ... -4 8312 9012 8912 9012 8812 90 89 90 89 90 8612 87 84 85i 2 '!'>7 88 8712 903s 91 Mtge&. coll tr A 1949 g-4 75 75 ________ 70 74 72 72 725s 725s 74 7412 75 75 76 76 74 74 i4 757g 76 73 _ __ _ _ __ _ _ _ _ _ · ~t & 1'\ackinac-Gold 1995-4 80 83 ---- ·--- ---- ---- 85 85 _____ ___ ---- -- -- 8712 8712 8912 8912 ___ _ '·etroit Sou-Ohio Sou Div--4 7734 7734 __________ __ ____________ ---· ______________ _ _ --- - 84 84 84 84 _ ___ 112 11212 1121211212 ul & Iron Range-1st 1937 5 102 1071210712108 108 108 1043410434 106 1093s 1081210812 ___ _ Regi stere d ... - ··· ·-·· ··5 ---· ____ 1061210612 ___________________ _ Dul S S &. Atlan-1937 g ... 5 ________ 108 108 1077g 109 ---· _______________ _ Elgin Joi&. East-1st '41 g~5 _____ ___ -- -- ____ - --- ---- ---· ---- 1061210612 ---Erie-1st ext 1947 gold- .. -4 99 105 -- -- ---- ---- ---- ---- ---- 9912 9912 --- 2d ext 1919 gold- •••••••• 51011210112 ______ __ 104 104 104 104ls ___ _ _ ___ ____ __ __ 3d ext 1923 gold- ..... -4 ½ 1001!!1001 2 ________ 9334 99 -- -· 4 th ext 1920 gold ........ 5 ________ 1061210612 1041s 105 ________ 104 104 ---- 105•g 105111 5 :h ext 1928 gold ....... -4 ---- -- -- ---- ---- ---- ---- ---98 98 ---- - --1st consol 1920 gold ...... 7 ________ 121 122 · 1171211712 117 11812 119 11912 IHI 119 1101-21_1_i1; i221-212212 ==== == == 121 122 12514 12514 1 st cons fund 1920 gold_ .. 7 120 12014 ---- ·--- --- ____ -··· _____________ 121 121 8714 87 8912 1st cons prior lien 1996 g. -4 8312 8612 8212 8614 82 84ts 8312 8612 8612 90 80 90 81 851,'l 85 88 86 8734 86 Registered···--····-·-' 79 79 ---7(i12 ti8l2 64 72 6812 72 6012 71 62 6812 6612 701 ,, 6810 7234 71 1 st cons general 1996 g .. -4 67 7212 55 68 56 74 73 8612 73 673-1 781 2 771 2 8438 8212 8412 so 8210 80 833; 811~ 83 Penns coll tr 1951 g __... -4 73 77 72 77 70 823.t 83 82 fi4 5414 4614 5712 55 617s 54 627s 551 2 663~ 61 647f 50ayr conv ser A 1953 g. -4 56 6 1 44 56 43 8012 72 6912 74 73 Coupon on --·-----····50-yr conv ser B 1953 g .• -4 Coupon on ··-···-··-··Buff N Y &. Eric 1st 1916 •• 7 Chic & Erie 1st 1982 g .••• 5 Cleve & Mah Val 1938 ·-··5 Jeffer son 1st 1909 gu g ••• 5 no 9612 121 121 1053-1106 128 128 l OG 106 NY Sus&. W 1st ref g .... 5 ------- ---- ---- ---____ JIJ5 105 ____ 104 107 General 1940 gold _..... 5 92 92 91 9212 ---- ---- 9334 9412 !.iO 90 su 89 ____ 89 g9:4 89 941~ ~,5 951 2 ___ _ Terminal 1st 1943 gold .. 5 110 llJ ---- ---· ---- ---____ 1121'? 113 1141211412 Mid of NJ 1st 1910 g -·· 6 102 10238 ---- ---- ---- ---- ---- ---- 101 102 102 102 102- 10:! ____ _ ___ 101 101 1021 8 1021 8 103 103 Wilkes&Eastlst gu g_5 ____ ____ 101 101 1001210012---- ____ 100 100 ---____ 100 100 102 lfl2 ___ _ Ev&. Ind-1st cons gu g .. - 6 ------- 110 110 - --- 10::l 11314 ==== ____ 11034 ll03a ___ _ Ev & T H-lst cons 1921g .. 6112 112 ---1st general 1942 g ....... 5 96 96 ---____ 100 102 103 103 1021-2 10-21; ==== Sullivan Co Branch .. _ ... 5 ---____ 95 95 __ ____ __ ---· Ft Worth & Rio G-lst g .. -4 76 78 78 78 74 7614 75 so 81 85 --- ____ ____ ____ 80 80 321 2 83 85 g71 2 86 88 Oal H &. Hof 1882-lst '13 .5 ---________________ 96 96 ___ _____ __ _ _ Ot North-CB & Q coll tr.-4 92 14 975s 93 9814 93 951s 9412 9614 953s 97 96 1s 99 9534 9634 961~ 98 98 100 971 2 933_1 98 9918 9834 1ooa8 Registered ........... -4 9234 9634 9312 9412 9212 9212 9312 95 94 9514 94 12 96 7s 9558 9510 96' 9710 97 98 96fo 971~ 963-1 973.i 9634 9712 St P Minn & Man 2d 1909.6 ________ 1041410414104121045s 1021410214 104 104 1031410334 104 104 - _______ : 106t 4 10G1 4 103 • 1031 2 103a8 10338 103 103:18 1st cons 1933 g ....... -6 ---- ---- 126tg 128 1261212612 128341283412812 12834 ---- ---- 12734 12734 ________ 1291 2 1291 2 ____ ____ 13178 13118 _______ _ Reduced to-- ..... -4 ½ 102 10612 105 105 105 10534 10534107 107 108 10712108 106 1071,~ 107 1031 2 108 1081 2 1os1 8 1091~ 1091 2 10934 1101411134 Dakota Exten 1910 g ..... 6 ---- ---- ---· ---- 1043410434 1051210534 104 10414 1037s 103 7s 10458 1051_1 1051 2 1051 2 1051 2 1051 2 1011 4 1011-1 1033g 1031 2 10334 10414 Mont Ext 1st 1937 g ... _.-4 94 9812 9812 9812 9812 9812 99 99 ____ _ ___ 98 98 ___ _____ 991_1 991~ 101 rn1 101 101 East RY 1st div, 1st g .... 5 1011410114 -·-____________________ ---· __________ ________ ____________ ___ __ _ Mont Cent 1st gu 1937 g .. 6 128 128 ________ ---- ---- l::lO 130 ________ ---· ---- ___________________________________ _ 1st gu 1937 g .......... 5 ---- ____ ---- ---- ---- ----1111211112 ________ - --- ---- ________________________ 1131 8 114 ___ _ Gulf & SI-1st ref 1952 ... _5 ---- ---- ---- ---- ---- -- -- ---- ---- ---- ____ ---- --- ____ 95 95 ________ ---· Hocking Vall-1st cons g-4 ½ 9812 103 9912 10214 9912 10212 100 10212 1021s 1035R 1021s 10312 101;8 103-1; 103- 1031 2 104 1061 4 105 10012 1051 2 1011-1 107 1071s Registered ·-·····-·-·-' ½ ---____ 100121001 2 ___ _ Col&. H V 1st ext 1948 .. --4 --·· ·-- - -· -· ---- ___________________ _ ---- ---- -- -- \Ji\ 96 Col&. Toi 1st ext 1955 .. .. 96 96 -- - - ---- ---- 100 100 Illinois Centra 1st 1951gold .......... _-4102 102 102 103 1131 2 1031 2 ________ 102 l '.l2 ___ _ -- -- ---- ---- 101 101 1st refunding 1955 --·· -- -4 ------- , 9973 100 · 9934 10012 1st 1961 gold-·····-·--3 ½ ________________ 9134 i-.,l:3-1 ___ _ _ _ _ _ 935g 935g R.egistered ··-·----- -3 ½ _____ ___ ___ ___ _____ _ ---- 913.1 913-1 --- Extended 1st 1951 g - . .. 3 ½ - - -- ____________ --- ---- 94 94 ---Collateral trust 1952 g .. -4 97 1001 2 1011 2 1011 2 ________ 98 98 ___ _ \)\} \J J ---- 102 102 102 102 - ------ 101 101 L NO & T 1953 g.·-····-' 9814 9814 ______ __ 101 101 101 101 ---- 100 lOJ 101 101 ---- 9912 9912 ____ 8734 8914 87lg 881,1 ________ 88 88 ___ _ ---- 8803 90:i-1 ---- ---Lou Div & Term 1953 g_3½ · --- ____ 85 85 Western Lines 1st 1951- .. -4 ___ _ - ___ 10034 10034 St L Div&. Term 1951 g __ 3 ___ _ ---- 79 7914 1951 gold ........... 3½ ___ _ 87 ---- 8912 8912 -- -- ---- 9012 9034 Carb &. Shaw 1st 1923 g .-4 ___ _ ---- 100 100 97 97 Chic St L &. NO 1951 g .. 5 ___ _ ---- 11212116 ---- ---- 115 115 117 117 _ ___ 100 l CO Memphis Di, 1st 1951 g -4 ___ _ St Lou Sou 1st 1931 g .-4 ___ _ - --- 98 98 -- -Ind l'linois & Ia-1st g ... -4 ____ ____ 95 95 ___ _ In ternat &. Gt Nor-1st '19 g 6 109 10 J ____ 101 103 ________ 103 104 104 104 ____ 106 106 ________ 106 106 108 110 110 110 2d 1909 gold-······-····5 88 901g 89 89 70 75 73 SJ 80 8012. 80 80 ____ 79 81 81 8112 85 85 ___ _ Trust Co receipts ....... -____ ____ ____ ____________ 80 80ts _______________ _ 79 8:! 82 85 ____ 8714 8714 Io wa Central-1st 1938 g ... 5 1001410812 ________ 102 103 1031210312 10512 105121041210612 1041 2 1011 2 107 10812 1081 4 10814 10812 llO 110 u212 1085g 108t~ Refunding 1951 g .. . .... -4 70 75 75 78 7414 75 74 7614 7534 78 755s 7534 73 73 73 741 2 7312 7 6 7512 76 7512 79 7812 821,'l Kan sas C Sou-l~t 1950 g. _3 69 7014 70 71 7012 71 70 7012 70 101 8 70 71 71 72 72 1 21 2 73 74 72 72 72 73 723-1 73:,g Lake Erie & W-lst 1937 ~.5 107 llO 1061 2 107 1101a 1101 8 10912110 ________________ 107 109 1091 2 1111 2 112 112 ___ ____ _________ 11412 11412 2d 1941 gol d ............ 5 ---· ·--- 100 100 10012101 ____ ____ ____ ____ ____ ____ ____ _ _______ --·-10312103121031210312 106 106 North Ohio 1st gu 1945 g .. 5 ________________ 105 105 105 105 1051 2 1051 2 ---· ____ ____ _ ___________ 105 105 ________ 110 110 Lehigh Val (N Y)-lst gu-4½ 1021s 1021s 10212103 103 10414 1043.i 105 1041 2 105 1051210512 104 104 105 106 10614 108 ms 1383-1 1083.1109.,s ___ _ Registered _...... ..... 4 31\ ___ _ ___ _ ___ _ ___ _ __ ______ ____ -·-- ____ __ __ ____ ____ 108 108 ___ _ Lehigh Val (Pa)-2003 g .. -4 8712 8912 ________ 92 92 95 95 \,41 2 941 2 V,3-1 9J3.i ____ _ ______________ _ Lehigh Val Term-1st gu g_5 108 108 ______ ___ ____ _______ 1141 2 1141f ________ 117121171!! ___ _ Lehigh Val Coa1-1st gu g .. 5 ---- ·--- ---__ __ 106 101; lu73.i 1073.i ---- ----1011210712 ___ _ Lehigh & N Y-lst gu 45 g-4 ---- ---- ---____ 0512 951~ '27 97 ---- ___________ _ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1 •• ---- ---- - --- ---- o cnc.c re~r ---- ---- 'TJCl i! !l7 ---- 1 ---- ---- ---- _· And m~. ,~om Nov . i. ~Co 1pon :m. RAILROAD BONDS. 97 I 908-Continued. BONDS January February March Aprtl May June July Auuu :i SepttmlJ<:r o. tob!:r Novem/Je, December Low High LQW Ht(Jh LQW Htgh LQW Ht(Jfl Low Htoh Low Htoh LQW Htoh LQW Htoh Low Hton. Low H;,on. Lov, H'<}fl. Low Htoli -------------1 ----------------------------------------------1---Long Isl-1st cons 1931g __ 5105 110 ---- ____________________ 1103411034 ____ _ ___ 112 1121!? 11214 1121 4 ________ 111 112.14111 Ill Oeneral 1938 eold----- --- 4 8314 8712 ________ Ferry 1922 gold ------ --4 ½ ---Unified 1949 gold--------' 81 82 Deben 1934 gold----------5 ____ Ouar refund 1949 e------4 90 95 ____ Bklyn&Montauklst•11 __ 5 ____ Louisiana& Arkan-1st'27 -5 ---- ____ ____ Louisv & Nash-Oen '30 &--6 113 117 ---Gold 1937 ____________ ___ 5 ---- ---- ---Unified gold 1940--------' 9514100 9li 100 Sink fund 1910 gold------6 ---- ---- ---Collateral trust 1931g ____ 5104 104 104 105 5-20~year coll tr 1923 g ___4 88 9112 9214 94 Lou Cin & Lex 1931 g __ -4 72 10314103I~ ________ NO & Mobile 1st 1930 g __ 6 11534 117 ---2 90 911 2 921 ____ _ ___ ____ ____ ____2 ____ ____________ , ____ ____ __ __ ____ ____ _ ___ 93 051 931 !J5 \)41 941 941 94 _ ___ 9il 931 2 92 951 96 97 94 ________ 91 ____________ 101 9a1 2 921 4 921 4 94 _______________ _ - -- • f04 12· lW2: USJ-1 97 98 95 9112 98-tz ___ _ _ __ . l0lf>g 1015a; 4 ____ 98 98 __ _ _ ____ ____ ____ ____ ____ ___ _ _ ___ ____4 _______ _ 1125gl125s ___ _ ____ JIG 116 117 117 1J6l2I17:J4 11lJ4 l1814 ________ 1191 2 120 120 120 111:14 ns _____ _______ 110121101s _______________________________________________ _ 95 96 95Js !J734 9512 99 91:112 99 96~s 981/l 9712 99 99 99J4 991 8 9:ga8 993,r 102 1011 2 103 ____ 105 105 ____ ____ ____ ____ ____ _ ____________ ______ _ ____ _ ___ 102 102 102 102 __ _____ _ 103 103 ________________ 107 ]07 10934 1093¢ IJ214 93 91 92 93 9312 9314 9412 9412 9514 9514 9512 95 951 4 95 %12' 9612: 9634 9612' 98, 104 104 ____________________ . ••• ..•.. _______________________ _ ____________________ 1191411914 ________ 122 122 _______________ _ 18 4 90 4 95 _ _ ~~g~ g~ gg gg;; g~5s ::58 g:!! g~;: g~12 -~~ _ _ ii~1 2 ~:~; -971-2 ·973~ ____ 9712 9712 ____ •. __ __ __ _ ___________ 100 103 ____________ 82 82 7912 80 82 82 84 84 ________ 85 88 87 88tz ------- ________________ ll0t4 ll0I4 ____ _ __ _ ________ 1123 J1234 113 II3 ---- ____________________________________________ - --·· __________ ____ __________ _4 . ----- -- ------ -- ------ __________________ - ·· ---- __________________________________ 112 1121 2 ___________________________________________________________ _ 79 83 8112 84 797s 8334 o 8534 8312 853s 81 83 8112 821 2 81 s21~ 81 821s 82 83 821? 8g34 ---- ---- ---- ---- ---- ____ 014 855s 84 8512 82 83 8114 8312 82 821~ 81 821? 81 84 82 - 86 16t2 2014 1812 2014 15 201 4 153s 111 2 1614 111 2 ________ 1634 181 4 16 1734 J8t9 19 20 2434 171; 16 ---- ---- ---- ---- ---- ---- 151s 18 16 1634 --- . ---- 1612 1812 1612 18 - 1614 185s 171 1934 18 251 2 1334 1714 1612 18 141s 1812 14 1612 ____ 1634 1634 111 4 111 4 18 18 ---- ---- ---1434 1634 15 15 14 15 15 167g 16 1614 15 1712 17 18 18 23t 2 80 80 ___ _ ____2 ____8 ____ ____4 ____4 ____3 ___ 4_ ____ ____ 97Js 9412 9614 102 ?02 102' 91 941z 94lz ____ 1001 1001 -=~~ ~~n~i!1c kxy -~~~ -~ ~~ ~ L & N & Mob & M 1st .,.-4½ ---L & N-Sou-Monon joinL- -4 87 87 Nash F & Sheff 1st '37 g __ 5 ---- ---Pens & Atl 1 st gu 192l g __ 6 113 113 Sou & Nor Ala con gu '36_5 ---- ---Louis & Jeff Bdge-Ou g ____ 4 9112 911~ Mexican Cent-Cons 1911 g _4 74 14 85 Trust Co certfs dep -------- ---- --- 1st consol income 1939 g __ 3 1412 2012 Trust Co certfs dep __ ___ _ ---- ---8 2d consol 'ncome 1939 g __ 3 10 157s Trust Co certfs dep. _____ ---- ---Mex lnternat'I-StamPed __ -4 ---- --- Minneapolis & St Louis1st gold 1927 - _______ ____ 7 - --- --- - 1251412514 ---- ---- 128 123 ---- ---- ---- ---- 126 126 - - ----- 1271212712 ---Iowa Ext 1st 1909 g ______ 7 ---- - -- 103 103 ------- 101 101 ---- ---- 1011.j 10114 ---- ---- ---- ---- - --- ---- 101 101 ---- 100 10014 101 101 1023s 1023s 1023s 102as 10314 105 105 10512 ________ 1041 2 1051 2 1051 2 1101 2 1st consol 1934 gold------5 100 100 80 ________________ 80 80 79•s 8011 785s 785s 78 79s8 793-1 841 2 841 2 86 1st & refunding 1949 g __ -4 80 82 80 8034 Su M St P & S SM-Cons '38 g.4 ---97 97 97 97 ---967g 9734 98 98 --- - ---- 100 100, - - -- ---- 1003410034 Missouri Kansas & Texas94 9G 9512 97 9614 99 96 97 9614 98 9712 98 98 9912 991g 100 9912 101 9812 9912 1st 1990 gold------------4 94 973~ 94 98 2d 1990 gold ___________ -4 81 84 79 82 7712 801? 777s 813s 1 8334 8314 84 83 85 8212 8312 8312 8685, 8578 8538 8738 87 90 98 1st extension 1944 gold ___ 5 95 98 98 98 98 - 99 10012 100 101 10012 102 101 )04 1041.~ 106 !0412106 105, 10612 1047g 10614 1041210614 75 1st & refunding 2004 ____ -4 ---78 747g 747g 75 7512 75 7612 765g 77 771p, 8112 77 80 78 79 79 831g 8312 87 72 7414 74 79 1118 82 785s 81 78 7912 80 82 so12 82t 2 8158 831s 83 88 881 2 96 Gen sinking und 1936--4½ 74 771 2 71 77 St Lou Div 1st 2001 go.d--4 83 83 ---- ---- ---- ---- ---- 801g 801g ------- 83 831,'l 8312 8412 83' 83 83 84 86 86 Dallas & Waco 1st gu g __ 5 --- ----1021210212 ---- ---- ------- - --- ---- 105 105 103' 103' ---- ---- ---- ----·-·· 87 87 ____________ - · __ 90 90 ·- .• ____ ---- ____ 865s 865s 021 2 921 2 9412 95 Kan City & Pac 1st '90 g_.4 ---Mo K & E 1st gu 1942 g __ 5 ---- ____ 1053g 1053s 106 106 ---- ---- 1 6 107 -- - - 10712108 -- --- ---- --- - -- -- 108 108 ---- -- -- 111 112 Mo K & 0 1st gu 1942 ____ 5 ---- ____ 10234 104 ____ 102 103 10212104 103 103 L03 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 ---- ---- l0:.!7g 103 104 10534 - - -- --- - 105 1073g 10614 10714 10714108 Sher Shrev & S 1st gu g __ 5 ---- ---- ---- ---- ___ _ ____ __ __ ____ ____ ____ 1001 8 1001s _____ ___ ______ __ ---- ---- ---- ____ - -- - ____ -- -- ---____ 1043410434 107 10712 108 10814 108 1083-1 Tex & Okla 1st gu g ______ 5 ---- --- - ---- ---- ---- ---- L03 103 1 3 103 10212 10212 103 104 lt\issouri Pacific1st consol 1920 gold ______ 6106 106 10412105 1~5 106 108 Iio 1 6 10712 107lg1071g 1065g l09 11112112 1.13 113 ll312115 B21211312 ))312)15 Trust 1917 g stainped ____ 5 94 97 9214 99 &8 90 91 95 9 134 97 96 97 9612 _98 14 985gl0212 9812 9912 9812 100• 9934l0Jl1l0ll2102 1st collat 1920 gold ______ 5 03 971 2 93 98 77s 1)0 88 95 94 96 97 97 953g 1:)712 !)[>lg 98 9712 9712 9612' 9812 99 10114 10114 10312 7612 69 72 69 7312 6912 71 5f 7012 7612 761g 7812 7412 76 74 747g 74 7834 7812 8014 40-year gold loan 1945 ___ -4 ---ti8 3d 7s 1938 extended at _.4 ---95 1)5 ---Cent Branch RY 1st 1919 g-4 ---- ---- 85 85 ___ _ 88 • --- 88 Cent Branch UP 1st '48 g_4 8312 8414 ___________ _ Pac of Mo 1st ext 1938 g __ 4 ---- ---- 99 14 99 14 ___ _ ___ _ Ill 111 2d ext 1938 gold ________ 5 ------- ---- .... St Louis Iron M tn & SoOen cons ry & I g 1931 g_5 l04 110 10414 1083, 103 10514 103 1061 2 1 518 108 1061 8 1011 2 10612108 108 109 l 103i 1111 2 1101 8 11114 11034 1141_1 111 s8 113 Stamped ____________ 5 -- -- ---- ------- 100 10312 1 6 106 ---- ---- --- ---- llO 11012 _______________ _ Unifying & ref 1929 g ___ 4 747s 78 74 78 68 76 74 76 751 2 80 7614 78.,i 7434 783s 80 87 85 8612 86 87 87 8878 871 2 891 2 Riv & G Div 1933 g ____ ~ 85 8614 83 8512 i6 8012 80 82 801s 84 83 83 83 84 84 8614 85 87 85 1'8 86 80 8812 8912 Mobile & Ohio-New 1927 g_G 113 11312 113 113 ____ 1131211312 ll634 119 ___ • 122 12312 124 124 1211s 122 1st extension 1927 g ______ 51051210512 ---- ____ ____ ____ ____ ____ ____ _ ______ ____ _ Oeneral 1938 gold _______ -4 ---- ---- 8414 84 1.. ___ _ ____ ____ ____ ____ ____ ____ _ ___ 8212 85 84 8614 88 88 87 83 Montgomery Div 1st '47 e-5 ____ ----,---____________ 1021 2 1021 2 ____ _ ___ 105 105 ________ _ 1121211212 1123g 112a8 1121211212 St Louis & Cairo 1930 ;---4 ---- ---- ---- ---- --- . ____________ 75 75 ---- ---- -- -- - -- - ---- ---- ---- ---- ---- ---- ___ _____ --- - -- - Nash Chatt & St L-1st 13. 7 ______________ __ 1121411212 112341121s 1131 2 1141 4 ll0121141211234112341121211212ll314114's 11411! 115 1151 4 116 1153s 1153g 1st consol 1928 gold--- - --5 107 10114 -··-- __ __ 10112108 1051 2 108 108 1os1 8 108tg 110 111 111 ________ 112 11212 1103g 1103s 11034 110:iA 112 1121 2 National of Mexico____ 100 1001& 100 100 ___ ___ __ ________ ---- ---- ________ JOO JOO ________ 100121003~ _______ _ Prior lien 1926 gold----'½ 99 99 82 81 8ll2 8 11 2 8112 8212 8312 ________________ 8 1 8114 82 80 80 ________ 8012 8112 81 1st consol 1951 gold------' 77 81 81 N Y Cent & Hud RivGold mortgaee 1997 ____ 3 ½ 871? 91 88 897s 8812 8934 119 9012 891 4 91 9014 9314 9114 9234 91's 9134 9114 927s 92 93 931 8 94 9312 ~6 Reg istered ----------3½ 885g 88°a ____ ____ 881 2 881 2 8858 3914 90 90 ________________ 90's 9012 91 91 ___________ _ Debenture 1934 gold-----' 91 9312 \J4 Y412 94 95 94 9412 911 2 931 2 93 94 9234 93's 9212 9:1 9312 95 9412 953.1 931:i 943~ 94 943-i Registered ____________ 4 ---- --- - -·-____________ 101 101 ---- ---- ---- ____ .... __ ___ ___ ---Lake Shore .coll g 1998-3 ½ 77 82 75 79L4 7 512 7714 77 8014 811 2 82 84 81 83 82'-t 84 823.i 84 85 86 85 X6 80 7918 82 Registered ----------3 ½ 743-1 7714 73 78 73 7534 75 79 781 2 801 2 7814 8012 80 81 80 8 11 2 82 821g 8114 83 83 14 851!! 84 8414 .l\lich Cent co I g 1998--3 ½ 7412 81 7512 1112 17 77 75 7912 78 78 80 81 80 83 - --- 821'.! 8212 81 8212 8412 8612 85'2 8512 Registered ----------3½ ---- ---- -- - - ---- ____ 76 76 ____ ____ ____ _ _____ ______ 82 821~ . .. . Beech Creek 1st gu 1936--4 ---____ ____ ___ _ __ __ ____ 0!J 99 Mohawk & Mal 1st gu g_-4 ----- -- 98 98 ____ ____ ____ ____ ____ ---- ---- ____ ___ _ N Y & Harlem 2000 g __ 3 ½ ____ ____ !J6'.i \JGI~ ___ _ NY & Northern 1st g ____ 5 ____ ___ _ 1071210712 ________ ___ ________ _ NY&Putnaml s tcongug4 .. --------- --- -- --- __ __ 100 J.00 ---- -------- ________ ---RomeW & O conslst ____ 5 __ ______ 110 llll21U97s109's J087gl01:l 101J 1101 2 111 111 112 112 1111211112 1117slll's 110341I0~4 Jl0 12 11u1 2 1lll4112 Oswego & Rome 2d gu g_5 105 105 ____ ____ ____ __ __ ____ _ ______________ _ Rutland 1st cons 1941 g-4 ½ ---- ---- --- ____ 103 103 Ogd & Lake C 1st gu' 48g .4 8434 8434 ! "/ 87 _ _ _ _ 82 e2 86 8J> 87 87 871s 8814 86tg 861 8 _... _ _ _ _ 89 93 Rutl'd-Can 1st gu g ___ -4 85 85 ------- 90 90 ______ __ ____ -- -St Law & Adir 1st g ____ __ ( ---- ---- ------- I 12 112 2d 199B gold----------E ________ l.<5 125 ____ _ ___ 125 125 -- -- 10314 )0314 Utica & R River gu ------' -- -- ---- - ------ 9934 9\J34 ___ _ \)212 93 !J3 941? 931., 95'1 \),5 96 Y4 1:! 95 LS&MSgold1997----3½ 8934 9212 92 92 ____ O'.l 94 ~3 ll3 \Jl \J2 91 12 94 Re •istered ----------3½ 90 9214 ---____________ 11212 9212 ______ __ ---- ---- 92 92 931g !J31s 93 - \)3 92-34 93 931? \)31~ 95 96 0334 95 94 95 9434 9612 9614 97;38 Debenture 1928 g ____ -4 887s 95 92 94 9034 \J2 Ylt 2 921~ 8958 95 925g 933~ 9312 95 25-year 1931 g ________ -4 885s !J41~ 901.t 93 91)3-1 f 2I: 9134 927p 90 931 2 917s 927s 913.,i 94 9334 943,1 9412 95:J~ 95 96 9334 95-34 951g 96 Registered -----------A____ _ ___ Y2 14 92 1.1 p·tts-& LE 2d 1928- -- ---E --- - ---- ---- ---- ---- ---- . ... ---- !U0 100 ---Jtlichigan Central-1931--6 ---- --- - --·· - ---- --- - --- - ------- ---- ---- ---- -- -- ---- - ---]14341143~ --- - ---- ---- ---!JO .' ack L& 51951 gold-- 3½ - --- -- - - ---- ---- ... . ___ _ \;O ---- --- - - --- ---- ---- -- -- ---· ---- ---- ---- - 1--- ---8834 8834 ---- - - -- 90 Yll:? ---- ---- ---- ---112 1)212 1st 1952 gold-------- 3 ½ ---- ---- ---- ---·· --- ·· ---- 88 8~ 993410034 10012102 10134 1031 2 JOO 101 10012 J0F1 lOllg 10134 NYC & St L 1st 1937 g_-4. !if,J3 "~l'l1 991-1 ~9 14 91Jl2 101 !J7ns 100 100 101 99 JOO •• _ • _ _ _ _ • _ _ _ • _ • _ 100 1 O:J _ ___ _. _. _ • _ _ __ _ _ . _. - - - - _ P.~::istered ____________ 4 ---- --- - ------- ---- --- · ----_____ • _ _ _. _ _ __ _ _ _ __ _ 92 9:1 9'! 93 ___ • __ _____ . • __ _ 25-year deben 1931-----~ -- . . ---- ------- - --- ____ ___ _ West Shoie 1st 2361 gu-- ~s 103 100 l:)21J 100 1L07s 10012 1011~ lllO l0J 103 104 1011-1103 102 1031, w21 2 1031 2 1021 2 10338 102~8 103~~ 1033s 105 Registered ____________ tti 1s lJl !J!J uo,~ 9J 100 0912 10012 100 102 10112 102 100 102 101 102 101 10'.!12 101!4 102 I0l~s 10212 10034 103 N Y Central LinesEquipment trust 1910--- ~ ---- ---- ---Equip Trust 1911 ______ 5 VY 's 1-Jl-lb ___ _ Equipmen: trust 1912--- ---- --- - ---Equip Trust 1915______ C:: 8~s \i\, 14 ---Equip Trust 1918------ ~ 1,914 995i ___ _ Equip Trust 1919 ______ t \i93-1 l0u ___ _ NY New Haven & HartfordConv deben ______________ c 1151212414 1181212334 118341233r 120 126 123 1271g 12312 127 1245g 1281g 126341301.1 129 13(ll 2 1293g 134 1331? 136 13534 13712 Conv deben 1956 ______ 3 }"2 ________________ 83 8612 851s 88 87 8814 i,,6 87 85 873.1 88 901: 9034 93 ll2 951? IJ0 - 100 U:.> 10012 ___ •• _ _ _ _ __ . __ • _ •• __ 88 88 _ __ _ •• ___ • _ _ •• 85 85 • • • • • - - Non-convert 1954 ______ 3 H ---- ---- ---- ---- ---- ---- ---Housatonic cons 1937 g __ 5 ---- ---- ---- ---- 112 112 ------- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- - --- ---- 1181211812 N Y Ont & W-ref 1st g __ .4 r212 9712 05 98 94 !J41i \J4 \Jj Jti 973~ \:4 9''38 951 2 97 97 1J81:? 9512 9\Jt.1 !JS !J9 !.8'4 99 1.i 9ll 14 10012 -···· \; \:ll2 9012 •.•• _______________ .••. • _____ ___ - --- ---• Norfo!k& South-1st 1941--f ---- ---- ---0 'h';:fr!fi1987-2::! https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 9 8514 8514 88 i~ g;; !~ i~ i~ -= 98 RAILROAD BONDS. 1908-Continued. Janua;y BONDS February March . Aprtl May • June Jut11 Au(lust September =----------- ____ ~-- _____________________ ---~ ____ Oclober / No.vemb~r D ecember Low Ht(lh Low Hi(lh Low Ht(lh Low Ht(lh Low Ht(lh Low Htr7h low Hi(lh Low Hioh Low H.r;h low HifJh Low Hiqfl -Low Htgh 1 _,N_o_r_fo_l_k_& __ W_e_s_t___O_e_n_1_9_3_1___6 _1_2_0_1_2_0_ 1:.is 1283 1_______ _ 1271 1211 1s Im1>t & exten 1934 g ____ 61171211712 ---- _________________________________________ ________ ___ ___ __________ - ---4 [---- ____ 121,!1 2 12912"2 2 New River 1st 1932 g ____ 6 ---____________ __ ______________________________ 126 1:.16 _______ _ N &. W RY 1st cons 1996-4 92 14 9712 95 Divisional 1st lien ____ -4 84 14 10~25-yr conv 1932 ___ -4 78 Poca hon C & C joinL-- 4 77 N;rc;;;;!~n VP~c~ic':_!st gu g __ 4 8712 887s 843s 84 95 87 8012 8512 915s 9614 8 812 8 3 14 86 95 90 8712 8012 8414 90 96 93 9412 88 881s 8814 817s 7934 8234 8534 8434 8tits 9112 9012 9058 9334 8812 823s 84 9112 95 90 87 8658 9314 941s, 95 941 8 893s 8214 85 831 4 83 8412 83 9312 9414 94 Prior lien 1997 gold- -- -- -4 9912 10134 9934 10114 9934 1001 2 99 101 10034 lOF>s 101 Registered ___________ -4 98 9912 98 100 99 9934 97341005s 99121001 2 101 ~~~~ti~~iJ-::- 1 -~~~2 ~6 4 -~~- -~~~2 102 101 97:14 90 871 4 8456 94 9734 90 87 8ti 951 8 99 911 8 9038 87 98 981 2 923.1 89 87 98 99:l4 9:313 91 871• 981 2 97 93 89 89 98 98 94 911 2 92 99 981 2 991 2 ________ 911 4 9538 90 911 9 951 2 951 2 10114 1021 2 10134 1033~ 10212 1041 4 10Fl4 10234 10234 104 101 JOI 101 101 991 2 9\11 2 1001 2 1001 2 103 11J3 _~_i_l~ ~1 -~~- 931 2 951 8 92 90 96 103 J 041 1011 2 1011 2 ~~- _1_1__ -~-~_1: =;~4 _1_2_1~ =;~t =7=1=1; _;~~; - ~;~4 =7=~= :;~= =7:~ f ;= _1_4_1~. 116 ---____________ 116 llO ________ ________ J'.!l 121 123 1 ____ 116 116 ____ ____ ____ __ __ _ ___ 11978 120 ___ _ ____ 102 102 ____ 10&121031 2 ____ _ ______________ _ 1st consol 1968 g ______ -4 ---- - --- - --_______________ _____ 100 100 ____ _ __________ . ___ _ North Pac Terml 1st 1933 g_6 ll4 114 112 112 ____ _ ___ 115 115 ________ 11512 1151 2 117 117 Pacific Coast Co 1st g_ -- -- 5 10112 105 10434 1047s 103 104 1021s 1031 2 104 10()34 10314 105 104 104 I 0~1 2 10934 109 109 109 110 lJ 1 111 109 ;tRii~~i~1 ::12 St P & No Pac gen g _____ s 117 117 Re gistered ------------6 ---St P & Duluth 2d 1917--5 ---- ---- 116 991 4 96 93:i4 901., 981; _7_3_3~ 1231 8 109 Pennsylvania RR1st real estate 1923 g ___ -4 L2 105 ____ ____ ____ _ __ _ 103 103 ____ ____ ____ ____ ____ _ __________ _ Consol gold 1919--------fl ________ ---- ___ _ ___ _ ____ ____ ____ ____ ____ ____ ____ ____ ____ 1101 4 J101 4 Consol 1943 gold--_ -- ___ -4 --- - - - __ ---- -- _- ---____ ____ ____ 10112 1011 2 _ _ _ _ _ _ __ _ __ _ _ ___ 106 106 _ _ _ _ __ _ _ __ __ _ __ _ Consol 1948 g ______ ____ -4 ______ __________ ---____ 100 10134 1007s 10112 1013s 10218 1025s 104 103 10438 J041 4 1051 2 10:.138 104 103:J4 105 10-yr conv 1912 g _____ 3 ½ 9114 9412 925s 94 93 95 947s 9612 94 951 2 95 955s 9512 90•s 97 93:14 97 9858 97~s 981 4 9634 99 931 2 99 10-yr conv 1915 g _____ 3½ 88 9112 885s 9012 89 911s 9034 92 915g 9334 9114 9218 92 9312 9312 95 94 951 2 941_1 951 2 95,18 961 2 941 2 951 4 Pennsyl Co-gu 1st g __ -4 ½ 10234 10412 10234 10314 10234 10314 104 105 10458 1053s 1047s 1055s 1037s 10434 10434 10514 ________ 10578 106 10514 1061 2 1061 4 1061 2 Gu coll tr ctfs B 1941--3 ½ ________ ---- ____ 8lil4 8Gt4 ________ 8612 8612 ---- ____ 9212 9414 ____ _ ___ 8812 881 2 ________ 91 91 Tr Co ctfs gu 1916 g __ 3 ½ ---- ____ 9212 9212 ---- ____________________ 95 95 ____ ____ ___ _ 97 !J7 98 98t 4 __ __ _____ 971 2 971 2 Gu coll tr ctfs C 1942---3 ½ ________ 8414 8414 ____ ____ ____ ____ ____ _ ___________________ 8734 8734 _________________ _ _ _ ___ _ 15-25-yr guar g 1931----4 90 96 935s 95 9414 9414 9212 9212 ____ _ ___ 9712 9712 ________ 96 96 9734 97:J4 ________ 1001 2 1001 2 Clev & Pitts D 1950----3 ½ ____ ____ ____ ____ ____ ____ 90 90 --- ____ 99 99 _______________ _ _______________ _ Gr Rao & I ext 1st gu---4½ ____ ____ ____ ____ ____ _______________ _ Pitts Ft W & Ch 3d 1912- - 7 ____ ---- ---- ---- ---____ ___________ _ 107 107 PC C & St L gu A 1940-4 ½ 108 108 108 108 ____ _ ___ 1001210734 1081410814 ________ ________ 109 109 ---- 1091g 10912 Series B guar 1942---4 ½ ________ 108 108 ____ _ ___ 1071210712 1071410714 ________ 109 109 Series D guar 1945 -- -4 ½ ____ ____________ 99 99 __ __ Series E guar 1949---3¾ ____ ____ 90 90 91 91 _________ ______ _ 9412 9410 98 98 95 95 C St L & P 1st 1932 g ___ 5 109 109 ____ _ ___ 112 112 ---- ---- ll31211312 113 11412 116 lltj ---= lltil2: 11634 ---Pere MarquetteFlint & PM 1920 g ______ 6 ___ _ ---- 110 110 110 11[) - --- ---- ---- --- - 112 11 2 1st consol 1939 g _______ 5 ___ _ ---- 105 105 ---- 10412105 --- ---- 10034100341001210012 ---____ 10£\ l OG ___ _ Pt Huron Div lst-------5 ___ _ Philippine Ry-1st sf_ ____ -4 ___ _ _ _ _ _ 9612 9612 97 97 _ _ _ _ _ _ _ _ 96 96 9614 9514 _ _ _ _ _ _ _ _ !l61 2 9778 961 4 971 2 Pitts Shenango & LE-1st g 5 ___ _ ____ 10914 10914 - - - ---- ---- ---- ---- ---- 110 110 --·- --- - ---- ---- 114 114 - --- -- -- ---- ---Reading-gen 1997 g ____ A 93 9712 931g 96 9334 9514 95 9712 97 99 9814 99 971g 9814 975s 9834 9834 99:i.1 9914 100 993,l 1001g 9U34 10212 Registered ____________ -4 !Jl 91 90 90 93 93 9414 9414 ---- ---- 97 9712 ---95 95 Jersey Cen coll 1951 g ___ -4 86 94 92 9412 90 92 92 931g 9312 94 9314 94 94 95 95 96 96 98 115<1.j 9til2 97 9 19 98 9812 St Jos & Od Isld-1st g __ -4 85 85 ---- ---- 82 8212 83 83 85 85 ---- ---- 87 87 87 88 88 91:l4 ---- ---- 92 92 - 93 9412: St Louis & San FranciscoGeneral 1931 gold -------6 113 11434 113 11312 ________ 1141211412 ________ ---- ____ 115 115 General 1931 gold-------5103 10514!031210512:1041 1041 104 107 106 1071 2 101 · 1081 2:105 107 104 105 10412H16 1081 2 1081 2 109 109 Lll•>slll i>s RR-Consol 1996 g ______ -4 90 90 ____ ____ ____2 ____2 ____ ____ ____ _ ___________ -J - - ____ 911 923.i 4 SW Div 1947 g ________ 5 ____ ---- ---- ---- ________________ 100 100 ---Refunding 1951 g ____ -4 73 75 69 'i21s 6812 6934 ti714 7014 69 7412 68 7412 6414 69 ti8 723.1 69 7512: 7412 775s 751 2 80 7978 88 KC Ft S & M cons 1928 g-6 111 114 1141211412 113 113 ____ ____ __ __ _ ___________________ _____ _______________ . ___ Refunding 1936 g ____ -4 68 7234 67 71 6634 71 07 70 OU 745~ 70 73 68 70 683s 7112 7u14 75 7:l34 7ti 741 2 791 4 80 85 Ozark & Cher C 1st gu g __ 5 ___ ___ __ ---- ---- ___ _ ____ ____ ____ ____ ---- ________ ---- ____ 9:1 95 95 !J5 _______ _ St Louis South west-1st g-4 8412 90 8712 8934 85 87 8512 90 8712 89 8712 8V 871? 891? 89 931? 91 92 911? 931. 92 931 8 92 9:_i, 2 2d inc bond ctfs g _____ -4 70 70 65 67 ________________ 70 70 71 - 75 .. 7212 761~ 761? 77 777a 79 - 80 81 8 t> s21 2 Conso l 1932 gold _______ 4 6112 67 60 66 56 601 4 597s 65 641s 681 2 66 67 65 6812 681? 76 7312 751. 74:,s 761? 7534 80 751s 791 4 San Ant & Aran P-1st g11 g 4. 78 8334 78 83 78 80 7814 8214 82 86 84 85 82 ~51? 84 - 8614 8534 87 - Solo 88 - 88 91 897g 92 Seaboard Air Line-1950 g-4 50 55 45 4912 4312 461 2 48 50 495g 54 51 531? 5514 57<i 5812 001? 5812 59 55 - 56 vv 60 60 66 Coll tr refund 1911 g ____ 5 ____ 86t 4 861 4 8712 88 90 90 ____ 9(}34 90-3~ ___ _ Carolina Cent 1st cons g __ 4 ____ _ ___ 85 85 Ga & Ala 1st cons 1945 __ 5 ____ ____ ~2 92 I 95 95 9412 951 8 ---- _______ _ ---- ---- ----101121011~ lu5 105 Ga Car & No 1st gu '29 g __ 5 ___ _ ---- 102 1(/:.l ---- 103 103 Southern Pacific CoCent Pac coll 1949 g ____ -4 8334 87 84 86 85 86 8512 8612 S6 88 8514 86 8512 8634 8612 891:i 89 92 9114 92 9134 94 91 913.t 2-5- yr coll trust 1910 ____ 4 ____ 9112 9112 __________________________ ______________________ 99 99 ____ 9!J 99 Cen Pac 1st ref gu g ____ -4 94 99 95 97 941 2 96 1 95 961 2 951 2 97 9U34 9734 97 9814 951s 97 9,5 \J734 !J7's 'd77s !J7>s 9ii,1 9778 \l9:!s Mtge guar g _________ 3 ½ 80 82 83 831 4 831 2 85 84 8ti 85t 2 86 8412 8514 8512 8512 85-1-1 86 ____ ____ 87 871,, 88 88:38 8ti1 4 89 Through St L 1st gu g_-4 ____ 88 88 ________________ 911 4 901 4 ________ 901s 903-1 92'is 95 94 !J51 4 9212 94 - ________________ _ Gal H & San Ant 1st g ____ 6 ____ ________ ·--- ____ ____ 101341013.1 ____ _ __________ _ Mex & Pac Div 1st g __ 5 107 107 ____________ ---- ____________ ---____ ---- ____________ 112a4 112a-1 Gila VG & N 1st gu ______ 5 ____ ____ ____ ____ 101121011 2 ---- ---- ________ 105 105 ---- ---- ---- ____________ 10:114 1c314 Hous E & W Tex 1st 1933 . h 100 101 ____________ ---____ --- - ________ _ __ __ _______ _ Hous & Tex Cen 1st 1937-510914110 llO 1101s ____ _ ___ 112 112 ________ 1091211012 __ __ _ ___ 111 11114 ____ 1121. 1121~ General 1921 g _______ -4 88 88 ____ _ ___ 87 8712 91 91 93 93 9312 9312 ---- ____ 9:.112 9312 93 95 95 _9_5_ !J41~ 9412 Aus & N W 1st gu 1941--5 ____ ____ ____ ____________ ---____ 1091 2 10!ll2 Morgan's La & TexSS 1st- 7 ________ ----__-_-_- 12 J12 12 112 -__--_-_ -_-__-_-_ 12~_1,sR 1 2 2~s _-_--__- -_-__--_ -_-_-_-_ Oregon & Cal 1st gu g ___ 5 ____ ___ _ ____ ____ 102 1021!! ____ ---- 106 10!.i ___ _ 10 1 107 61I 10 3 10 3 So Pac Ariz gu 1st g '09-6 9812 981 2 ____ _ ___ 102121021 2 103 103 ---- ---- lOil.110112 JOF>s lOl~s --- - ---- ---- ---- 1021.110214 __ _ _ Guar 1st 1910 g0Jd _____ 5 ____ ---- ,---- ____________________ 102141021J 10212: 10212 ' 10314103!4 ___ _ So Pacific of California1st 1912 E & F--------6 ________________ 1041210412 ________________ 104121041~ ________________ ---- ---- ---So Pac New Mex 1st g __ __ 6 ________________________ 104 104 ____ ____ ____ ____ ____ ---- ---1 Tex & N O cons g 1943 __ 5 9514 9514 96 96 9734 9734 9812 981 2 Sou Pac RR 1st ref 1955_-4 8712 93 88 9134 88 891 2 885s 901 2 -8958 _9_3_12 -iiii4 -923~ -iio- _9_J__ -92i2 _9_4_3~ / -9412 -iii; -95ts -9-53~ -9514 _9_6_ -9534 9712 Southern-1st 1994 g _____ 5 85 97 861 2 8834 821 2 93 887s 97 97 103 99 10014 97 100 993s 102 101 10312JOll210734 107 109 107 11012" Dev~lop & gen Ser A-----4 ___ _ ____________________ 75 7638 7312 741 2 ________________ 72 72 70 73 1212 7612 7412 7812Mobile & 0 coll tr g _____ -4 75 77 ________ 751 2 751 2 751 2 751 2 7934 82 8212 8314 ________ 83 8534 83 84 84 8534 86 8712 8612 8h Memphis Div 1st g_-4 ½a5 100 10212 ____ _ ___ 96 99 ________ 103 103 ____ 101 101 103 107 _____ ___ 107 107 _______ _ St Louis Div 1st g ______ -4 72 76 ________ 70 101 2 69 7434 so1 2 82 82 82 79 7934 80 80 84 84 831g 843.1 85 88 Ala Cent 1st 1918 :.------6 ____ ____________ 108 108 _______________________ _ Atl & Danv 1st 1948 g ___ -4 ____ ____ ____ ____ ____ ____________ / ___ ___ __ ---- __ __ 87 88 !Jv34 tl1 J I ET Va & Ga 8~~i:ii~:11\9is0 :~~~====~ 105- 1051g 105 5eJ~;i~ ~f~f.~i~n1 fft-i 94 d ==== Ga Pacific 1st 1922 g ____ 6 Knoxv & 0 1st 1925 g __ 6 Mobile & Birm 1945 g ____ 4 Rich & Danv cons g _____ 6 106 107 105 102 10434 10414 1_0_5_5; 10412108-- 10412 1-0-512 ____ 106 108 106 107 ____ 107 ________ 103 97 ____ ____ 107 fJ4s-g::: ____ ==== So Car & Ga 1st g _______ 5 Va-Mid-Ser 8 1916------6 Series F 1931_ _________ 5 Genera! 1936 __________ 5 . Stamoed guaranteed--5 West NC 1st cons 1914 g __ 6 Term! Assn St Louis-1st 4 ½ 1st cons 1944 g _________ 5 Gen refund 1953 g _____ -4 Texas & Pacific-1st g ____ 5 2d income 2000 gold------5 Toledo & Ohio Cent-1st g_5 Genera! 1935 gold _______ 5 103 ____ ---____ ____ ____ ---____ ____ ____ 92 2 62 _6i_ 1~~:; l~f ___ _ ____ 118 118 82 82 1091210912 ___ _ _==_=_-_- , __-=_=__= =_=__=-_- --7-~5_ -_ --- 08 ----1---- ____ 75 --·-- 98 ____ 10112 10112 ___________ _ 1 ____ 107 107 ____ 103 103 ____ ____ ____ 101121021 8 ____ ____ ____ ____ ____ ____ ____ 102 105 10914 lll 1101s 11034 ____ ____ ____ ____ 9012 9012 9214 9214 ____ _ ___ 9212 9312 109 1121a 106 1121 2 99 10534 10434 1101 4 10934 1121 4 ____ ____ ____ ____ ____ 1_~5__ /~~=~2: 1_0_2_!2 ~~~- 1_0_4__ 1101s 111 117 115121151~ __ __ , ________ 117 117 78 78 _ ___ 10712 10112 108 10834 92 ==== ==== ==== ==== ---____ u512 9534 975s 9758 ____ ____ ____ 9412 104 ____ ____ ____ ____ ___ ___ ___ _______ --- ·· 10214105 ________ ____ 105 10512 ____ ---- ____ 10612106!2 _ ___________ ________ _ ___________ 11312 ll3t2 9412 _____________ __ _! ________ 1081210812110 no uo12 no 11034 102 103341021210212 ____ ____ ____ ____ ____ ____ ____ 9512 98 ________ 97 97 9714 9714 ____ 1---- ____ Tof'i>~!i:\t\::st=--1-sTg::: ~i4 ~~12 -8012 -81- -80- ii_l_8212 -823~ Toi St L& W-Prior lien--3 ½ 80 80 8312 8312 82 85 83 8u 50-year 1950 gold-------4 67 73 70 72 69 72 70 71 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I ig~:; 108121_1_0_ 1oii121-,193~ 10912 l-0-9:,; i~~l4 i~~t2 ii212 Jl_i_ _9_7__ -~~- _9_9__ ==== ____ 991s 1021 2 105 _ ___ 1091 2 1091 2 ________ 106 100 110 _ ___ 107 107 9 RPchb&nM~~t<"ts~ ~~~ -8287 70 8212 ---- ---87 ____ 731 2 7212: 74 1041210412 ___________ _ 105 i2 1051r 1051210512 ___ ____ _ 1051410514 ________ 10534 10534 ---- ---- ___ _____ 108 108 --- - ________ ____ 108 1087g ______ __ ll53411534 1161211612 97 9712 9712 9712: 9734 9734 113 11012 117 118 11412118 ________ 65 65 _ ___ 1091210912 ___________________________ . _ _____ ______ ____ _ - -- - --- - --- - 104 104 12 88 8812 8812 9012 901? 94 12 94 80 83 ~; ~; 8414 85 85 8412 85!; 88 88 871? 88 8919 91 87 87 87 91 !Jl~2 9212 7\JI E 7!Jls 84 14 1112 7512 747s 7e 1512 7g(j 7512 75; ~ 76 ---+--- ____---- ____________ ~~ RAILROAD AND MISCELLANEOUS BONDS. 99 1908-Contlnued. January BONDS February March .April May June July 991 4 991 4 __ __ ____ 87 9134 9612 971 2 121 122 113 11414 8912 93 10012 10012 951s 955g 9012 92 9512 961a ________ 113 11413 89 901a 991210134 95 957s 897a 94¾ 96 97 120 120 111 113 89 91 I October N uvtmber December __ ______________ 94-58 97 95 9534 9318 99 947g 99 9fi34 98 98 99 117 11 8 11812 12014 111 lll lR 114 1141 2 91 94 94 95 1011a !Olis 951s 96'>8 971210334 99 100 1201 8 121 113 1143~ 9414 9418 101a4 102 102 10212 96¾ 97 9678 9818 10234 10634 1041 2 10814 100¾ 10114 9858 993a 121 1211.1 12118 12112 11514 11612 11614 11814 941 2 97 941 2 95 ===: :::: :::: :::: Att 11 · Septtmber -----------~~ _ _H_~~~~~~~~~~~~~~ - ~~~~~~~~ Ulster & ~I-1st con a:---5 104 105 _____________ ___ 104 105 ____ __ __ 103 103 10412105 10734107'1.1 ______ __ 107 107 109 109 -· 1st refundma: 1962 a; _____ ,: ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ 81 81 Union. Pac-RR & I a: 1H7-4 99 102 991a 10112 991410014 9912101 100 102 10112 10234 10012 102 10158 103 102 103 io2ia 1-03-- 10258 10334 10358 iosRe&15tered _ ____________ , 1st & refCwhen issl 2008--4 20-yr conv 1927- ------ - " Oreaon RR & Nav con a:--" Ore&on Sh Line 1st a:-- - -6 1st cons 1H6 &- --- - - -- 5 9812 9912 1001410014 98 118 99 __________________________ __ 84 877a 84 88 83 8634 84 91 9634 94¾ 96 94 94¾ 95 115 12034 116 11812 117 11812 118 106 110 11014 llllg 111 11112 111 Ouar ref 1929 , ____ ____ , 8512 897s 87 89 86 891 2 887s ~~g:ii: t~rslf:Ui::::::: =:=: 99 ____ 8814 96 11912 1121g 897a ==== ==== ===: ==== ==== ==== a Southwest-1st 2003-5 99 :::= 911 __ _________________ _ ____ Wabash- 1st 1939 a:- - -- --5 10514 10934 102 108 10214 10534 105 10814 2d 1939 gold __ _- ___ - _- __5 90 94 8712 9 1 8412 87 87 921s Deb 1939 "B" income ____ 5 44 45 3814 40 37 47 4414 49 1st lien equip 1921a:-- ---5100 100 102 102 1st &. ref1;1nd 1956 a:- - - --4 43 4712 38 44 3712 46 431 2 4934 Det & Chtc Ext 1941 a:- - -5 ___ _ ____________________ 100 100 Omaha Div 1st 1941 g __ 3 ½ ____ ____ ____ ____ ____ Toi & Chic Div 1st 1941 g _( ____ ____ ____ ____ ____ Wah-Pitts Terml- 1st a: -- -4 45 56 4:l7s 4534 41 45 44 4714 Trust Co certificates- - ----- ________ ---2d gold 1954- - .- .- - - -- - - --4 Trust Co cert1f1cates _____ WWash Term-1st gu 1945- 3 ½ est Maryland- 1st &---- -4 lllR ____ ____ 6312 Oen & conv 1952 g _____ -4 40 Trust Co certificates-- - -W Va Cent & Pitts 1st g __ West NY & Pa- 1st 1937 g _5 General 1943 g _________ -4 Wheel&. L E--l st 1926 g __ 5 Wheel Div 1st 1928 g ___ . 5 Ext & impt 1930 gold----- 5 1st cons 1949 g ____ ______ ~ 20-yr equip 1922 g _______ 5 Wiscon sin Cent- 1st gen - __ 4 19 10 12 834 12 ____ ____ ____ ____ 66 55 6212 49 66 47 3934 42 30 34 ________ ------- ____ ---- 10 1112 66 67 3312 35 ==== ==== ________ ===: 1011 2 110 1031 2 10534 92 9312 50 56 48 ___ _ ---- 10312 105 8934 921 2 ________ ____ 5834 52 56 10712 1_0_1~: -98- -Iii110 110 108 1081? 10::i12 108 109 10912 109 1-1-01 1091411 1 - 1085s 1-11-8814 96 9314 9512 96 96 95 951 2 951 2100 60 62 ____________ 62 62 ____ ____ ____ _ ___________________ 5112 58 57 62 57 6034 577g 601 2 5912 651 2 2 ____ 83 ____ 44 -ii12 42 934 1s1 2 65 35 79 40 493s 43 934 11ss 65 70 ________ ____ __ ______ ____ ---- ---- ---- ________ ---- 10812111 ---- ____ ll034 l1034 ________ 1141 2 1141 2 ---871s 8734 ____ 103 107 ____ _ ___ 100 102 102 ioi 102 102 ________________ 103 103 ________________________ 83 4934 4912 5578 ____ ---- ____ 9:J4 131 8 9 ____ ____ 9012 70 74 7112 91 11112 4112 ____ 41 141_1 ____ 901 2 75 45 41 ____ 95 !!5 ____ 6612 69 67 71 75 85 8012 8312 83 ____ ____ ____ 71 7212 71 71 9814 9814 ---8034 85 8012 83 60 6314 62 63 631 2 69 80 8258 80 83 82 86 86 76 8514 10912 iii 9914 105 80 90 100 100 6418 77a8 1051 2 11012 ---- 80 80 90 91 46 52 47 51 50 55 511 2 56 ---- ____________ 50 54 51 5614 97s 1018 112 101 s 111~ 1034 1434 ____ ____ ____ ____8 ____ 131 2 141 _______________________________ _2 74 7712 7412 7834 7712 80 781 2 843g 401s 43 42 42 44 5:.!1 2 51 65 ____ 43 43 ____ 54 65 ____ ---- ---- ---- ____ 105 105 114 114 114 116-'>s _______________ _ _ ___ 931:i 9312 95 9534 96 96 ____ 105 106 10112 10712 _ _____ ___ ___ __ _____ _ ____ ---- ____________ 1051210512 74 7-1 80 80 8012 8312 8212 8334 ____ ---- ____________ 95 99 8412 88 8414 8634 86 8934 887a 11214 STREET RAILWAY. Brooklyn Rap Tr-1945 g ___ 5 91 9834 94 9712 951? 97 9512 97 100 100 99 100 99 100 99 102 101 1011? 98 10114 100 101 1013410212 1 st refund conv 2002 g ___ -4 651 2 75 673s 7334 6814 7134 6934 7310 111 2 741 2 7112 731s 71 733s 723a 763s 7234 773; 7::l34 747s 7414 7912 785s 8614 Brooklyn City 1st cons-- 5 ________________________ 997s 100 102 102 ---- ____________ ---- __ __ ------- IOd 1031s 10312104 B Queens Co& S ub gu g __ 5 _________________ _________________ ______ 92Is 921s ________________ 90 92 91 91 __________ _____ _ 99 10112 99 10012 9934 10:.! !Olis 103 - - -- ____ 100 100 10012 10012 _ __ _ _ __ _ 81 14 8114 ---- -- -- ---- ---- ---- ___ _ 81 83 811:i 83 83 86 g4a4 8612 75 7614 7514 7712 78 O 79 82 _ ___ _______ _ ___ _ 96 96 ________ 10012 1001~ ___ _ De t Unite d- 1st con '32 g -4 ½ ____ ____ ____ ___ _ ____ ____________________________ ---- ____ 69 69 10 70 ________ 80 83 Havana Electric-cons g __ 5 94 94 ---- ____ __ __ ---- ________ ---____ 86 86 ____________ ___ _ 1 Interboro-Met- colL---- -4 ½ 571 4 6331i 4918 6138 55 6012 56 677s 6358 531 8 641s 68 6512 671 2 6&14 697s 6till! 697s 65 67 4 653-1 7512 7434 8258 lnterboroRT3-yr conv19116 ---- - -- - ---- ---- ---100 10012 100 lOOt2aOOlglOOl2aOOl4lOll~a10110Fga007s l011?.al0110:! 10:! 104 Internat Tract- coll tr ___-4 631 2 65 61 61 60 6112 ________ 62 62 ---- ---- ________ 6514 6512 6412 6412 6:.ll2 6:.ll2 6412 68 6!112 70 Manhattan Ry-cons g ___ -4 921g 98 9412 96 94 9434 92 9234 95 9612 9534 9612 96 !J7 9612 9 9712 9912 9712 !JS 99 991,1 981~ 9912 Stamped ta x exempf- ____ 4 _________________________________ _______________ 9634 98 973.1 9912 9\1 1s 10014 977s 100 100 ion-;~ 1001s 10034 Metropol E lev 1s t g ______ 6 9934101 100341013s 1011410134 10134102=i l023s1023 102341027s _________________________________ ______________ _ 8 4 Metropol St- 1997 g _______ 5 85 85 68 · 8212 70 76 741s 84 78 80 78 813J 77 81 81J 8:.!12 78 81 78 781? 781s g;_s1. 8234 89 Trust Co certificates------- ____ ---- ---- __ __________ ---- ____________ 8112 82 78 80 7612 1'812 811 4 82 - 841? 89 Refundin g 2002 g ___ ____ -4 47 47 43 49 40 421 4 50 56 50 52 50 50 48 48 --- - _____ 51 51 52-;s 52-;& 55 6U 60 - 6812 Bway & 7th Av 1st g _____ 5 100 100 ____ ---- 93 100 99 102 ---- 100 100 100 101 99 9t!12 98 JOO 9 9 12 9912 9734 105 Col & 9 th Av 1st gu g ____ 5 ________ 98 98 \l5 95 ____ 951 4 99 95 99 96 94 96 94 95 95 95 97 97 9338 Lex Av&. Pav F 1st gu g _fi ____ ____ ____ 96 96 ____ 97 98 ---- _____ 96 96 !Jfi 96 95 9 1i 100 102 3d Av 1 st gu 2000 g ______ 4 4912 55 5114 5334 51 5134 52 63 56 57 52 5712 54 561 4 60 64 62 64 60 6aI2 5 14 661• 65 75 Cent Tr Co certfs _______ 51 5238 50 52 4814 501s ____ _ ___ --- - ---- ---64 66 - 6412 7314 do do stamped __ __________________________ 50 62 56 5912 5Fs 52 5:! 56 1>412 6:.l 59 6d1° 58 63 58 66 641• 73 1 st gold1937 __________ 5 LOJ 1031gl0:.! 1031 Flll l 104 10312106 ________ 106 106 10312105341061410614 ____ ---~106 10612l'J712108 1081slll Portland Ry-1st & ref- ___ 5 ____ ____ 9714 9714 9714 971 4 - ------ 9.':! St Jos RY L H & P- l s t ____ fi --- ---- ---- ---- -- -Underground Electric of Lon40 ___ _ ---- 4112 411 , ---don- profit sharing ______ ( ---- . ,:; ------- 37 1933 __________ ______ -4 ½ - - - - .....,._ - - - 7U 7dlo 7•) 73 '1112 731; 20 2212 2i12 2a 211 2 ~2 Income 1948 ____________ 6 - --- ---- --- _ _ _ _ 84 84 ___ _ Union El lChicl -l st g _____ 5 ---- ____ ---- ____ ..007s 1007s ---- -- -- lU l 101 8012 7Y14 7912 8:.l 8234 83 United Ry s St Louis-1st g -4 7734 79 76 7812 79 85 7 12 80 8212 8212 82 82 --··____ 82 8~ l:SO S t L T rans g u im p _ _ _ _ ____ 5 ____ 84 84 _______________________ _ United RR s San Fran _____ -4 59 681 2 66 67 05 68 6414 661 4 653-1 7358 ---- ____ 69 7U 69 7u 701s 7:.!34 7U'14 73 14 7234 75 7::l 7514 Bklyn- Un El 1st g _ _ __ -4-5 Stamped guar __ _ ___ -4_5 Kings Co E l 1st g __ __ _ _ -4 Stamped g uar __ __ _ ____ 4 Na s sau E lec gu g _______ -4 95121011 4 94 9712 9312 1,7 921 96 100 98 971 2 10114 97 100 9ga4 102 __ _ _ _ ___ ___ - ---- 993410212 ____ 8 11 2 8112 ---- ---- ________ 77 8212 7712 8012 7\1 so 78 811 4 801 2 8134 80 807s so12 83 75 78 77 77 ________ 7612 781 2 771 2 80 ________ 75 751 2 Conn RY&. Ltg-l st g __ -4 ½ ________________ 95 95 ____ Stamped guar -------- -4 ½ ________________ 9312 95 _______ ___ __ __ ________ ___ _____ __ OAS AND E LECTR IC. Bk!yn Union Gas-1st _____ ( Convert d e ben 1909 ______ ( Buffalo Gas-1 st g ________ 5 Con soli da ted Gas {N Y)Convert deben 1909 ______ £ Detroit City Gas-1923 g ___ 5 Detroit Gas-con s 1st '18 g_5 Equitable Gas CN Y)-g ____ 5 ____ ____ __ __ 98 99 !JS 9!JI~ 98 102 lCl 551 2 51:S 58 uo1 2 5J b-, 55 55 10578 104 1171 ~ 113 95 951 8 951~ 96 124 07 ____2 ____ ____ 103 1os1 2 103 931 2 941 2 95 iA 103 L0234 10314 10234104 ____ ____ ____ 119 129 54 5l.i12 5612 56 l!i ll 4 1301 2 123 Y7 97 98 Hudson l.,;,o. Oas-1st g ____ 5 ____ Ktifr~~~~~;~ !~\~f_ _~-=s 107 Ed El II\ (Bklyn) l sL----4 . ___ 0 104 107 105 I:./53.i 13712 130 5ti3s 51 56 10634 106 ld!J 135 56 56 1273_1 125 98 141 1:)5 1-1812 138141543g ____ v912 !lf:112 100 100 ---- --- - ---- 95~s 95-;8 ---- ---- - -- -- --- - ---79 7<J ________ 79 79 79 79 ---- ---- 83 8:.l ll3121181 ~ 11712122 Ll712119 1183.1129 12412127 18123 1267~ 101121011 2 ________ ---- ---- 102 102 --- - ---- --- - 99 ____ ____ 88 75 ____ ____ ____ ---- 107 ---- 104 ____ 83 101 103 83 102 [03 1061b ;)7 ____ LOI 1011~ LOI 108 - --- ---- 110 11112 110 111 _ ___ :3834 8834 !JO 90 --- 1011 4 102 10214 10.i1!! 103 101 10~ ____________________ 101 101 111 111 --- - ---10112 w112 ________ ____ ---- ---- ---- ---- ---- --- - 89 12 90 981? 114 96 90 94 9238 98 971 2 102 \J712 9!l l'714 lOOl4 1003s i02 101 10134 82 - 751 8 791 2 75 77 761 2 7918 781 4 811 2 81 8234 81 87 84 8514 8414 88 ____ 9812 987s 99 99 10014 1001 4 101 101 102 102 1021410312 100 100 ____ 108 10S ____ ____ ---- ____ ---- ____ - --- ---- ------- 89 89 ---- 10034 101 10:.! ---- ---- ---- ---- ---- - --- ---- ---- 107121011 2 ll l 111 u21s 1121s _____ ___ 94 95 ________ 97 9718 971 4 1001 8 98 98 99 1001 2 ________ 101 101 ________________________ 95 95 92 99 9412100 ____ 96 93 Westches ter U ght-1950--- f ---- ---- ---- --- - ---- 1121211212 ________ 103 104 ________ 115 10218 1037s 97 115 1027s 1037g 97 ---------- MANUFACTURI NG AND INDUSTRIAL Allis-Chalmers- 1s t 1936 ___ 5 ---Am Agric Chem-1st cons--5 ---Amer Cotton Oil-deben - -4 ½ 86 !!2 14 Amer Hide & Leath-lsL-- 6 7512 80 Amer Ice Securities-deb--- 6 62 65 Amer Spir'ts Mfg- lst- -- -- 6 91 97 Amer Thread- lsL - - --- - - -" 83 83 Amer Tobacco-40- year ____ G 9634105 Registered ___ __ ________ 6 96121011 2 Gold 1951-- - - -------- - - -" 6012 691.- \10 88 80 76 6112 60 100 100 84 84 10312 100 ____ ___ _ 6614 62 Registered ___________ -4 ---- ---- 63 63 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 56 ---- ____ ---- ____ ---- ---- ---- -- -- ---- ---- ---____________ ---- 96 96 ---- ---- ---- --- - Gene ral E lect-debe n g __ 3 ½ 80 80 ________ 79 79 10-yr d e be n 1917 g ______ 5 l06l210934 LOS 1091210812110 Ladede Ga s-1st 1919 g ___ 5 Ref &. ext 1s t 1934 g _____ 5 Milwaukee Gas Light-lst-- 4 N Y Gas El Lt Heat & p ___5 Purch money coll tr g ___ -4 Ed El 1111st 1910 g ______ 5 1st cons 1995 gold ______ 5 NY & Qu EL & P-lst ____ 5 NY & Richmond Gas- lst-5 People's Ga s L & Coke1st cons 1943 g ______ __ __ 6 Refunding 194"1 g _____ ___ 5 ChicGL&.Coke lst ____ __ 5 Con sumers Gas l sL -- - -- 5 Mutual Fuel Gas lsL ----5 Union El Lt & Pow-lsL --fi 1021: LOO 99 101 - _ __ _ ___ ---- -- -80,;s 8Fls 75 75 90 !Ill• 80 80 • 5812 63 \17 \J7 84 84 101 lOGlg 1005sl0212 €2 68 G6;s 66i'>~ !.i012 9134 9134 \J2l~ 0 81 8012 82 62 70 67 7018 _- - - - - - - - - - 85 86 86 8(i 10234 106 1047s 106;;.~ ___ _____ 105 10614 67 12,, 711 8 ;2~~ -;-And-l~t8 721 4 e~;;:_ \1134 :o:.ll~ 5 90 68 70 -- -8lil2 8 , 10412 10534 105 10/>14 71:;8 121 2 ________ 105 ldti 1051? 1051410512 1.;o 14678 1491 2 ____ 63 63 140 1481~ 1457g 16 34 10u1~ 1UCF1.; 102 1J:.!l4 1 ---- ---- - - - - - - - ---- ---- ---- ---1 82 2 8::J ' ':i 83 14 1 124 l:.!7 1253-1rn6 ---- ---- ---- ____________________ ____________________ 9d ~231 9d12 9J34 94 8 90 1,91~ 90 8814 90 70 72 70 - 73 72 731 2 ---- ---- ---- ---- -----· - - --- ---- 861.\ 88 14 105 107 ls 1073s lO\J•4 10.:r14 11 11., 105 107 -··- - -- · - ________ 121 4 76~4 7a 74:,~ 7:!~s 75 75 75 733s 7J3s 75 ;5 163 16912 10234103 ---- --- 84 84 134 141 --- - 1 ____ 10312 lOa12 88 88 J-- -- ---102 lv~ w1:i lll~ ---- ____ 10 31, llli.J3.i !15 95 -- - --· . 101 10212 10:!1~ 10-! 85 8.:i I · ,;1.1 1:17 1007:- 1011~ 101 11111~ 11)71210112 101,1:,, 11'.!t~ ---- ---- ---- -- ----- ---- ---- !JJ IOJ ---- ____ ---- ---- ---- ---1027s 1027s 103ts 103141011410114 ____________ --- --- - - ____ ___ _____ 1001410014 101 1021s ---- ____ 100 100 ____ ---- ---- ---101 1.t 104 ---- ---- ___ _ ill 14 107 135 57 110 110 --- - ---- 10212 ___ ____ _ - --- - - -1011210212 85 8612 1011210112 l'l2 112 Vfi 95 1 LOO 100 4 ---- ---- llS 118 119 12012 102141023-1 103 1-1 lUJ-1.i ltl4 10412 HWs 104 10.'> 105 1051210534 10234103 ____ 102 102 ---- 101 101 tO:.i I 78 94 9334 91 69 --- - 7914 g4;;8 94 9:.!3,i 71 ---- -- - - --- - ---- 79's 91,.1 9278 93 70!2 -- - - ltl712 lUH,>~ llJ5 1) l-1.108!1 I(Jfl11 n=1a 791~ 751:: 73~-t 7 12 /">::: 1 4:is 97 \:J512 97 75 - - -- 1:,214 86 voa8 v1as !1514 961? 6J - --- !J6 100 78 -----c' - ~2 £212 l !J 1.031 ;• 1J912 l'J~ I~ ---- ---7!J'-, 7'>>~ · 80 , 61-1 _____ __ _ 1 l00 RAILROAD AND MISCELLANEOUS BONDS. 1908-Concluded. I BONDS January Februa111 March Aprtt May June July Augusi September October Nov :mber D,eember ------------1L __o_w_H_t1_h Low Htq: Low High Low Ht!}h Low High Low High Low H tgh Low H igh L ow H i!]h Low Higl/ IJOW H igh Low Hi(Jh Bethlehem Steel-1926 ____ 5 Central Leather-20-year ___ 5 Consol Tobacco-50-year __ -4 Corn Products Refg-s r_ ___ 5 Distillers Securities-conv--5 Illinois Steel-1910--------5 International Paper-lsL--6 Consol conv s f_ _________ 5 Internat Steam Pump-deb 6 Lackawanna Steel--lst con 5 N Y Air Brake-ConV------6 Republic Iron & Steel-lst--5 ll S Leather-deben __ -----6 ________________________________ 95 95 8512 93 90 921s 897g 94 \:11 94 9312 9512 63 68 62 621 2 6634 ·6634 6834 7212 ·715s -72 70 76 77 771F. 7812 7812 80 87 ________ 66 75 64 72 67 74 6912 7214 71 7434 ___________ _ ____________________ 94 94 102 105 102 103 1021410214 101 10212 102 10212 8434 86 8412 8412 80 8112 79 81 80 8114 90 9212 ________ 90 947g 90 9314 93 931g 84 · 85 85 89 8514 8514 90 90 90 91 ____ ____ ____ ___ _ ____ ____ ____ 91 9414 ____ __________ ___ ___ _____ _____ __ 9212 985g 101 101 103 1031s 105 106 ________ 105 107 73 71 81 6512 70 6412 69 65 1014 67 8512 891s 867s 8858 8734 951s 933s 971 2 9412 9612 8534 8912 867s 8834 877s 9514 9234 95a8 941 4 9658 89 89 ____ 9412 9412 ____________ ____ U S Realty & Jmp-deb ____ 5 US Steel-sf 10~60-yr _____ 5 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 1926 __________ 5 Col Fuel & 1-s f 1943 ______ 5 Convert deben 1911- _____ 5 Colorado IndustrialFirst & coll trust 1934 __ 5 Tenn Coal, I & RR-Gen----5 n 67 75 731 2 801 4 77 81 7\J 85 85 83 84 85 85 9612 9712 ti7 98 9334 96 73 74 74 -741 ~ 7312 77·>~ 85 89 91 91 ~ 93 95-'•s 735g 7512 6712 741 2 68 70 - - -- ____ ---- ____ --- - ____ 10212103 1021210212 101 1021:? 7912 8412 82 84 82 8212 9512 97 97 9734 98 9934 92 9.'i 94 9412 9314 9412 95 99 9612 9934 971410314 9512 9512 9712 9712 95 14 9514 ____________ "--- 1061210612 80 80 79's 80 80 8514 993410112101 1021!! 101341033R 99;;s 101 IOO's 10214 993g 10214 1007s 10214 ________ 1041210514 85 8534 96 · 9712 76¾ 1s1, 92 9:> 6912 78 ---- ____ 1!9i4104 8!l 8534 991410012 9612 98 100.% 114 9634 97 105 106 8412 8734 100121031s lUO'Js 10:-i 1051410512 ________________ - --· ________________ U5 9514 8312 7912 88 8312 8412 80 86 8414 8834 8814 9414 ___________ _ ____________________ 92 98 95 9512 963s \/8~s 967s Offls ____ ---- ____ ---- ---- ---- ---- 9414 961s 943s 9412 ___ _ 82 82 7912 7912 80 ________________ 56 45 51 8212 89 Birmingham Division-----6 99 102 Tennessee Division ------6 100 1017s Cahaba Coal 1st guar-----6 ____ De Bard C & I irn----· · -6100 100 Va Iron Coal & Coke-lst--~5 81 8712 TELEGRAPH Am Teleph & Tel coll tr ___ -4 Convertible 1936 go!d ____ -4 Installment rcts for conv--4 Commercial Cable 1st g ___ -4 Mich State Teleph 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 S y _____ 5 Detroit M & M L O-lncomeInst for Encouragement of Irr Wks & Devel of Agric--4½ lnternat Mere Marine----4 .½ Internat Navigation-lst---5 Newp News Ship & D D----5 New York Dock-50 year---4 Provident Loan SocietY---4 ½ U S Reduction & Refining--6 07 ____ : ___________ 94 95 05 98 · 7112 -72 · 7112 7614 8214 85 88 88 71 73 72 7434 ---- ___ _ ---- ____ 10112102 102 106 80 81 78 80 94 96 9212 95 90 9012 901s 9112 87 03 8912 9514 9312 95 94 !J5 ________ 105 1051s 79 81 77 80 96 965s 965glOO 9534 907g 97 100 1001-110014 ________ 3834 45 8814 89 10212104 103 1031~ _ __ : ____ 83 86 801s 82 82 82-34 83 65 ____ ____ __ __ 40 86 103 103 103 5212 90 104 104 103 so 85 7512 751:, ________________ 513s 581 2 9012 94 104 106 ________ 102 102 _ ___ 83 87 81 ________________ - --- ____ ____ ---- ---- ---- ---- ---- ---- - ------ ---- ---- ____ 8534 85=14 _ __ _ 9214 88 88 76 9214 94 88 767g 9212 85 85 75 9212 89 86 771g 81 ___ _ 84 !!412 84 85 83 84 8312 85 76 76 78 78 70 83 100 9014 88 100 ___ _ ---63 75 ---85 6512 6334 6414 76 7734 7734 6:'l7s 72 7512 80 86 87 ---____ 87 89 ____ 78 a And int.e rest . 101 86 1212 75 99 100 108 108 ________ - --- __ __ ____ 95 10012 8012 8618 86 8814 87~s 8812 88 90 90 8414 86 847s 897s 8912 943g 91 85 85 85 81 8534 82 7512 81 87 8614 ____ ~--- 965s 841., 8634 79 ---- 95:,R 8412 89 83 ---- 88'ls 8734 92 __ _ _ 8514 88 75 100 _ ______ 9U 87 88t2 ~734 8212 8212 100 9212 96 91Fs 99 ________ ___ _ 93 94 95 74 75 9912100 1071210912 100 10712 108 108 10112rn:{ !15 98 ___ _ 95 96 ___ _ 743,1 77 747s 7612 100,R 10312 104 10514 108 llO 1091g 1091s 107 107 102 l!ti 10:{14 --- 97 116 9712 91 907.g 92¾ ________ P3 931., 941 4 9118 9318 9218 965s 9334 951 ____________ a9212 94 8 _ ___ 9334 OOis 85 __ __ 93 \Jll2 8434 94lp 92 _ ___ 9ti 9212 So 997s 9.'i12 90 84 94 92 997s 97 915~ 8618 ---- __ _ _ _ __ _ 98 100 9112 97 84;4 8612 --- - ---- 4212 47 671~ 6914 80 - 80 8712 88 85 90 77 6012 63 62 f\934 68 7212 97 971 2 9514 9712 971s 9912 1073410834 10612107 ________ 106 106 ____ 106 IO~ ____ --- - ____ 101 ___ _ _ _______ --- · 881 2 87 88 90 94 9312 97 893s 8712 8014 8612 8812 8712 887g 88 ---- ---- ---- 851s 90 75 75 58 63 97 9758 107 107 1053410534 ---- ---- 70 85 75 85 8714 9614 98 78 79;,s 95 95 74 80 --- 10534 105-14 8434 90 100 103 9634 98 110 115 9812100 105 10512 86 891g 1021sl031s 1021 ~ 103 ___ _ 94 95 91 945s 84 68J4 7114 6812 7012 681g 70 82 82 ____ 84 86 ---- 88 ____ ---- 85 85 85 68 84 96 90 _ __ _ 69 8.5 96 90 __ _ _ 6712 __ _ _ ---9012 _ _ _ _ 89 6912 _ __ _ ---92 92 _ _ _ _ 921.t OJ 0'.!l ~ 6234 663.1 6::J li; 71 6S"!4 _ _ _ _ _ _ _ _ 84:!4 85 84 ---91 93 !13 93 9:!12 ---- 9.:, 90 9ll 90 !JO __ _ _ 9'.!34 i'7l4 89 9234 9512 _ __ _ 1909. January February March Aprtl May June July August September October November December Htgh Low High Low High Low High Low High Low High Low High - - - -BONDS - - - - - - - - 1 - - - - - - - - ·- - - - - - - - ----- - - - - - - - - _____ ,_____, _____ ,_____, _____ Low Ann Arbor-1st 1995 gold -- 4 Atch Top & S Fe gen g 1995 -4 Registered ___________ -4 Adjustment gold 1995 ___ -4 Registered ____________ 4 Stamoed ____________ -4 Conv 1955 issue of 1909 - -4 Subscrip rects (part vaid) 50-year conv gold 1955- _ -4 Registered _____________ 10-year conv gold 1917 - __5 g:g:~ ::~:~: High Low 84 85 1001s 10114 99 100 92 935s 847s 101 100 94 ---- - --- 9214 9212 94 941s High Low 8612 10112 100 9512 9214 9512 Htah Low 86 8734 1005s 10114 99 1005s 94 9514 ---94 95 High Low Htl]h Lmo 8712 8712 10034 1011s 100 1007s 9312 9412 ---93 9412 865s 8712 8514 8514 84 84 ___ _____ 8312 86 83 8412 79 813s 7734 79 1005s 10112 10012 1011 2 101 1017s 100 10114 1001 8 1005s 100 10034 993s 1003s 991 2 100 1001410018 10018 10018 ________ 100 100 ________ 99 10114 9834 9834 991 2 991 2 9312 937s 93 9414 9312 9334 9312 9412 9334 941 4 9334 95 9312 9412 9418 941 2 _____ _________ _____________________ __ __ _____ ___ ________________ _ 9314 94 9312 9412 9312 94 9312 94 9334 9412 9312 95 9312 9434 9414 9434 ---- ____________________________________ 1121411434 1141s 117 115 1191 2 116 122 117 117 ll91 4 120 11834 ll834 ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ____ 1131211412 116 ll714 1151411614 11634120 11814120 120 1211 2 102121043s 103 10534 1035s 108 1055s 108 1073s 11012 1091s 11658 115 1I85s 11512 120 11514 123 117 1237s 11812 12234 11858 1231 8 ---- ---- ---- ---- ---- ---- ________________________________________ 1181211812 _______________________ _ 1061s 10734 10612 1077s 10534 10814 1073410934 10914 11214 111 11612 1155s 11914 1157s 1203s 1 4 1225s 117 12314 ll83s 12214 1185s 12314 -~~~2 r1m~=== ==: ==== ==== ==== ==== ==== ==== =~== ==== ==== ==== ==== ==== _9_9_1: === = ==== 9978 ~rs==== ==== ==== ==== Deben series K 1913 ____ -4 --- - ---- ---- ---- ---- ---- ---- ---- 9812 9812 9812 9812 9812 9812 ____ ____ ____ ____ ____ _ ___ 981 2 981 2 Deben series L 1914-____ -4 ---- ---- ---- ---- ---- ---- ---- ---- ---- ____________ 9812 9812 ________ 9818 9814 ____ _ ___ 98 98 Eastern Oklahoma Div lst.4 97 97 98 99 9734 977s 97 9712 9714 978s 9712 971 2 ---- ____ 9712 9712 97 9712 ____ _ __________ _ Registered ___ _________ 4 ---- ---- ---- ---- ---- ---- ---- ---- 96 9612 ________ -- -_______________ _ Transcon Short L 1st g __-• 9412 957s 9512 9614 951g 955s 9514 9512 9514 955s 9478 9512 94 9434 94 9434 9334 943g 93s8 9414 9358 941 4 9318 9414 San Fr Pres & Phenlst g __ 5 113 113 112 1123s ---- ---- 1121s 1121s ________ 11112111:;8 ---- ____________ 11012110121101 2 11012 ___ _ Chicago&. St Louis lsL--6 ---- ---- ---- ---- noas 1103s ---- ____ ll03s 1103s ______________________________________ ___ ______________ _ Atlan Coast L-lst 1952 g_-4 9414 9612 °9614 9712 9612 9712 97 9734 965s 9714 9512 9678 9534 9612 9534 9634 9412 957s 94a4 9534 95 9534 94 96 Alabama Midland 1st gu __ 5 ---- ---- ---- ---- ---____ 1107s 1107s ________ ---- ____________ 109 111 ___ _ Lou &. Nash coll 1952 g ___4 86 91 8912 9312 89 9012 89 905s 9034 9158 9634 9634 89 90 8914 9234 91 9134 89 91 89 9012 8914 1011 2 Brunswick&. W 1st llU g_-4 ____ ____________ 89 9078 --- - _______ _ Sav Fla&. W 1st g 1934 ___ 5 ____ ____ ____ ____ ____ ____________ 127 127 ---- ____ ____ ____ ____ _ __________ _ Sav Fla & W 1st g 1934 __ 5 --- - ---- ---- ___ _ ____ ____ 114 114 ________ 1121211212 __ __ ____ ____ _ __________ _ Sil S Ocala & 0 guar g ___ -4 --- - ---- ---- ____ -- - - __ __ 97 97 ________ 9714 9714 ____ ____ ____ ____ ___ _ ____ ____ _ __________ _ B & O-Prior lien g 1925-- 3 ½ 93 94 9312 9414 9312 94 94 9412 94 9412 94 941 2 9312 95 933g 941 4 923s 9312 92 93 9212 93 9234 931 4 Registered ----------3½ 93 93 ---- ---- 92 92 9234 93 93 93 ________ ---- ____ ____ ____ ___ _ 911 4 9114 ______ __ _______ _ Gold 1945 ______________ -4 1001s 10114 1003410112 10012101 1001210112 1001s 10158 9934 101 10014101 100 101 100 1001s 99 1005g 9834 9912 9834 9934 Registered ___________ -4 99 10034 99 99 99 99 ________________________ 991s 991s 9812 9812 98 991 4 9912 9912 9712 9712 _______ _ Pitts June & M DiV-- -- 3 ½ 8912 8912 ---- ____________________ 88 89 883s 89 8812 89 ____ ____ ____ 89 89 8838 883s _______ _ Pitts LE & W Va System-4 951s 96 95 96 9312 95 9334 9412 9312 9414 93 93s8 93 9312 933s 937s 93 9334 93 9312 9212 9314 921 2 9318 Southwestern Div 1st g_3½ 9034 913s 91 917s 91 9112 91 9112 91 9114 90 91 901s 91 9012 91 907s 911s 89 91 8912 9013 8958 9058 Re11:istered ----------3½ ---- ---- --- ---- 91 91 ____ ____ ____ ____ __ __ ____ ____ _ __________ _ Ceo Ohio Reorg 1st cons 4 ½ --- - ---- ---- ____ ____ ____________ 103 103 ---___________ _ Cleve Lor & W cons 1st g _5 1101s 1101s 11112113 ---____ 11334 11334 ________ 113 113 113 113 ________ 113 113 _________ ______ _ Ohio River 1st 1936 gold- - 5 --- - ---- 1131211312 ---____________________ --- ____ 113 113 ____ 112 112 General gold 1937 ______ 5 1081s 1101211112112 ____ _ ___________ 110121101 ___ _ _ ___________________ 112 u~ _______ _ 2 Pitts & West 1st 1917 g_-4 ---- ---- --- - ---- ---- ____ 98 98 ____ ____ ____ ____ ____ _ ___ 9812 9812 ____ _ __________ _ Buf Roch & Pitts-Oen '37 _5 1161211634 117 1171s 1171s 1173s ________ 117 117 ________ 11634 ll634 11634 11634 ____ ____________ 11518 11578 114a8 11518 Consol 1957-----------4 ½ 109 109Js 109341093410912110 ---- ____________ 10934 10934 1101s 1101s __ ______________________ 10934 10934 1101:i 11012 Allegh & West 1st gu g ___ 4 100 100 --- - ---- ---- ---- ---- ____________________________ 10014 10014 ___ ____ _ 100 100 ___ _____ 1021 2 1021 2 Roch&. Pitts 1st 1921--- - 6 ---- ---- 11834 11834 119 119 ---- ____________ 1181211834 ________ 117341183s 11734 11734 1173411734 ________ 11518 11614 Consol 1st 1922--- ----- 6 11834121 121 12112 1211212112 1211, 1211 121141211 12118 12118 ________ 12018 12018 _______________________________ _ Bcffalo & Susq-lst ref ____ 4 8912 90 ________ 8712 88 ________4 893s 89344 ________________________________________ 8112 8112 _______ _ Canada Southern1st extended 1913--------6 1061s 1061210612107 2d 1913- ---------------- 5 102 10212 102 10212 Central of Oeontia-1st1945.5 ---- ____ 11512 11612 Consol1945gold- -------- 51083g10934l1014 lll 1st preferenceincome _____ 5 79 79 79 80 Stamped -------------- ------Trust receipts ___________ ---Stamped - ____ ----- __ _ ---2d preference income _____ 5 ---- ---- 63 66 14 Stamped -------------- 60 Trust receipts--------------St:lmped _____________ ____ 3d preference income- ____ 5 53 Stamped ______________ 55 Trust receipts-----------____ :.. tlmpcd _____________ ____ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 60 55 55 ---64 64 53 54 5512 55 1061410634 10612107 10614107 102 103 1021410212 1023s 10234 ---- ____ _ __ _ ___ _ _ ___ ____ 1093411034109341101210934111 80 80 79 80 7912 80 80 80 80 80 ____ 6312 62 6614 5912 64 63 5914 58 54 59 59 58 ____ 66 65 65 65 62 61 80 65 68 67 0514 62 615g 61 6234 81 _ _ _ _ 101s 68 69 6J 70 65 6612 ____ 66 65 66 66 641s 65 623 ____ 41 73 71 70 66 66 67 1061410658 1061s 10612 10578 10612 1021410234 101121021210212 103 __ _ _ _ __ _ _ _ _ _ _ _ __ _ __ _ _ _ __ 110 1113sll012lll 10934111 80 9078 ________ 8412 90 81 9012 ____________ ___ _ 84 8512 ---____ 81 HO 8634 8634 __ __ 72 84 78 81 75 75 72 84 ____ 75 7512 72 8312 ________ 76 76 72 81 7234 751:? 7134 80 76 78 72 72 1012 80 7612 7612 70 71 71 7012 ____ 5918 781:: ____ ____ ____ 105 10534 102 10212 _ _ _ _ _ __ _ 10912110 82 85 85 85 82 82 1041210514 1011210214 _ _ _ _ __ __ 1085gllQ 83 84 84 85 85 85 104 10514 1001210134 _ __ _ __ __ io8 109 83 9112 85 8912 8734 8734 ____ 751s 7612 71 73 72 8712 75 76 7112 74 75 87 __________ ______ 80 86 7612 7612 ________ s21 8 8712 71 73 7012 71 7212 88 75 8212 83 83 ,72 72 75 80 1043s ~05 10034101 ___ _ _ __ _ 1077g109 87 8978 89 891 2 8912 8912 ___ _ _ __ _ 841 2 87 85 85 8434 8434 ___ _ 85 87 ___ _ 86 86 ___ _ RAILROAD BONDS. IOI J 909-Contin u.-«J. BONDS January February March, April May June July August Septe:mber October Noi:cmber December Low Htgh LQW Htgh L<>W Htgh L<>W Htgh L<>W Htgh L <>W High Low High Low High Low High Low High Low High Low H gh - - - - - - - - - - - - 1 - - - - - - - - ------1-----f------1~---- - - - - 1 - - - - 1 - - - --1- - - - - - - - Central of Georgia-(Con) Chattanooga Div 1951-- - -4 Mobile Division 1sL ----· 5 Central RR & Banking Ga--5 Central of New JerseyGeneral 1987 gold.-.:·--·5 Registered --···---··-· 5 Amer Dock & lmpt .... __ 5 Lehigh & W-B Coal 1912 .. 5 Cons ext 1910 gu .... -4 ½ Central Vermont-gu 1st g-4 Chesapeake & OhioMortgage 1911 gold ...... 6 - ---- ···- ............ ··-- ---- ____ --·· ··-- -··· ____ ........ --·· ···- ---· 905s 9058 · ··- -··· ..•• -··· ··-· ··-·--- --·· ···- -·-- ···- -··- ........ 1101411014 .••••..•. ••. ..• . · ··- •••• ··-· ....••••••....•••••...•••.•• ··-· -··· 105 106 104 105 105 105121041210412 ···- •••• 1043410434 105 105 105 1051s •••••••••••••••• 1041~ 1041 2 127 126 109 9934 997s 128 12112 110 9934 10014 1273412858 1273412838 1281412914 12814129 1273s 1273s 127141273s 12738 12112 1271412714 110 110 110 110 110 1101111101 8 1101s 100 100 10014 10012 10014 10012 1003s 1003s 1003s 1003s ............ 83 83 8014 8014 85 8934 127 12118 ..•.•••. 10934 1101 8 101 101 1003s 10012 8812 8912 121 126 110 12812 127 128 12634 1m212558 12634 127 12612126121251 2 12'512 125 125 110 • .•• •••• . ... 1081 4 10814 1007s 1007s 100 100 1003s 1003s 1003s 1003s 10018 1001s 9934 997s 8934 90 895s 90111 89 8912 89 89 12414 125s8 12434 1251 2 124 124 ••.. 1003s 1003s 9918 10038 997s 100 9918 100 ···- ••••.••• ···- ........ 103181031s ...• • ••• 1011210214 ....•••• 1021s 10214 102 102 1st con sol 1939 gold.:.-· . 5 1145s 117 11512 11012 1151s 116 1151s 11512 1151s 11512 11434 11512 11414 115 11412 1145s 11412 115 11314 11434 112 11312 113 1141 2 Registered •.••..•• ••.. 511312113121141211412 ..•• Gen fund & impt 1928 ••.. 5 -·· · .•.. 10114 103 1015g 10234 1015s 10214 1011210214 10034 10134 1013s 10134 1Ci034 lOll2 10012 10312 10134 105 10212 10512 103• 2 105 General 1992 gold •••... 4 ½ 104 10612 1061s 1065g 1047s 10512 10514 10614 10414 10512 104 105 104 10434 10312 10412 10312 104 103 104 1023s 10312 1021 2 1031 2 Registered ....•.••• -4 ½ ...• . ... 105 105 •••••••• Big Sandy 1st 1944 ••••. -4 901s 907s 903s 91 8912 9012 8912 90 -··· 8978 90 ·gs5s 8834 8834 8934 8912 8912 8712 883s 88 8 34 88 88 Coal River 1st 1954 gu •. -4 ···- ••••.•••••••.••••••. 893s 893s •••• •••• 8914 8914 .••• ···Craig Valley 1st 1940 g ••• 51071210112 109 11034 •••••••. 110 110 110 110 .••.•••. ···- ··-· .••••.•••••••••..••.•••••••••••••••••••• Potts Creek Br 1st 1946 ... 4 90 90 •...•••••......•...•...••..•...•••••..••••...••••••• •. ..••••....••••.•.••.•• •.• • ···R & A Div 1st cons 1989 g-4 100 100 100 10012 991210014 100 100 9912100 991 4 100 99 9912 .••••••. 9934 9934 9938 9912 98 99 99 99 2d cons 1989 g ____ •••• -4 ••••••••••••••••....•••• 9614 9614 •..•••••...••••.•••••••.•.•••••. • ••••••. 97 97 94 94 Greenbrier Ry 1st 1940 .. -4 ................. ... .. . ......... 9414 9414 ..•• Chicago & Alton-Ref '49 g.3 7814 793s 79 80 7812 7812 7814 7812 78 7834 7758 7758 7714 7714 7734 7814 78 78 75 7614 7458 76 Chic & Alt RY 1st '50 g.3 ½ 74 75 735s 763s 7312 76 7512 767s 7612 77 7512 77 7412 76 75 763s 7512 757s 7312 76 7314 7512 731 2 7434 Registered ·····-····3½ -··· 73 73 •••••••• ··-- •••• ·· - · -··· ••••••••••••••••.••••••••••••••• 75 75 •••••••.••••••.• Chic Burlington & QuincyGeneral 1958 ... _.... __ . -4 Denver Division 1922.- . -4 It:inois Di vision 1949 .. 3 ½ Illinoi s Division 1949- ... -4 Iowa Division 1919 s f ... 5 Iowa Division 1919 s f .. -4 Nebraska Ext 1927 .--.---4 Registered -· · ·-······-4 Southwestern Div 1921 . .. 4 Debenture 1913 ... _..... . 5 Hannibal & St Jos cons ... 6 Chicago & Eastern Illinois- 995s 10034 1001s 101 1001s 10012 10014 1007s 1001s 10012 1001210012100 10034100l41003s 91 9214 9112 93 9114 9214 913s 9134 91¾ 917s 1017s 103 10234 1031s 10134 10214 102 10214 1015s 1021s .... .... . ... 1055s 106 .... 997s 100 1003s 1003s 100 10014 1013410134 101141011210112102 10112102 10012101341011210214 ........ 1011s 1011s ..•• 99 99 ••••••.• 9912 9912 99121001s 100141003s 102 102 10212 10314 10212 10212 10212 10234 10212 103 1035s 10334 1033410334 1033410334 103581035s 1033410358 ........ 100 100 Refund & impt 1955 g •••• 4 1st con sol 1934 g • ..• - ••• 6 General cons 1st 1937 •••• 5 Registered -··········· 5 85 90 1295s 12934 11412 1151s 1141411414 Chic & Ind Coal RY lst ... 5 114 11434 Chic Ind & Lou-Ref'47 g .. 6 127 128 8712 89 130 130 1151s 11514 .••• 115 115 129 129 Refunding 1947 g ........ 5 ........ 113 11478 8714 881s 87 88 1301s 13018 • . . • . . . . 115 11512 115 11534 ···- ••••.•.••••• ···- -··· 114381147s ···- -··· 1281212858 •••. 1141s 1141s 87 8812 131 137 115 11514 114 114 1141s 1141s 129 129 1121211212 98 1001 8 9934 9934 90 9112 10034 10178 997s 10012 9934 100 9014 921s 100 10112 9934 9934 10014 10034 •••• •••• ••.• 10238 10234 10314 10314 9934 997s 9934 9934 1001s 1007s 100 1001s .•• • •••• 9934 9934 ••.. 10134 102 102 10234 1023410314 1025s 10234 88 89 9914 10014 9912 997s 90 91 1005s 1013s 9914 997s 9834 993s •••• • .•. 100 100 90 9012 89 9012 1005s 101 1001 4 1011s .••. 1081210812 9934 9934 100 10012 995s 1005s 995s 1017s • •..•••• -··· 9912 9912 1017s 102 10112 102 102 10214 ···- •••• 9834 993s 9878 9912 891 4 8934 1001 8 101 . .• . 9912 9912 993s 100 ••• ••••• 99 991 8 g91 8 100 9934 991 2 90 101 991 4 9938 9918 100 9938 9938 995s 1015s 101a8 10158 1015s 102 ••••••.• 88 8812 87 88 18612 8712 861s 861s 85 86 85 86 ...•••. 12938 12938 129 129 126 126 1143s 1141} 11212 114Is 1121s 113 1131 2 11312 · ··- •••. ..• •••••...••.•• •.•••.••••.• •••• .•• • • ••• 113381133s 1121211212 ...• 1281s 1281s 12812129 12s12129 128121281212s1 2 12858 114 114 ···- ---· 11414 11414 114 114 Ind & Louisv ls 1956 ... -4 -··· .... .... . ........... 94 94 .••• •••• ···- ---· .•.•• •••• ••• ···Lou NA & Chic 1st 1910.-6 .... 1021410214 1021410214 1021 8 1021 8 1011 2 102 1013410134 •• •••... • .•••••• ···- -·--1001 8 1001g ••• • ···Chic Ind&. Sou-50~yr'5lL.-4 ···•• •••••• 9334 9334 9512 9578 ••.• ··-- -··· •••••••• 94 94 Chic 1'1.il & St P'I term '14 g.5 105 105 1045s 10514 105 105 104 10434 10458 10434 •... 1041210412 1041410414 ··-- •. •••••• ••• ••••• Gen series A 1989 gold .•• -4 10212 10314 103 10312 10234 10312 103 104 1037s 10458 104 10412 104 10412 104 104 10112 10334 102 103 103 10358 101 1023s Gen series B 1989 gold •• 3 ½ 9112 9212 92 9234 915s 917s 9112 917s 91 915s 90 91 90 91 8912 90 893s 90 88 891s 89 89 89 90 25-year deben 1934 ..••• -4 -··· ···- -··· ···- ·-·· •••••••••••• •• • . 9412 95 9414 9434 94 945s 9334 95 9312 94 931 8 94 Chic & Lake Sup Div . .. -.5 ........ ···- .... ···- .... 1093410934 .... • .•••••• 1081210812 .•.• Chic&. Mo River Div ..... 5 .... ···1127s 1127s .•.. 1131s 113Is 112/ls 11238 112 11212 11134111341111211112 11034 lll 1101411014 11034 l.1034 Chic & Pacific Div ....... 6 1017s 1017s •..• 1013s 10112 1013s 1013s 10114 10114 ...• • ••• 103 103 Chic & Pac West Div •.••• 5109121095s 1101s 1103s 110 11014 110 1101s 110 11012 1091s 11012 10914 110 1087s 10912108121087s 1081410834 1081s 1081s 108 10834 Dakota & Gt Southern •••• 51051210512 105341057s 1057s 1057s ···- ·-·· ••••• ••• ...••••• 1045s 1045s ..• ••••• ···- •••• . .•••.•• ··-· - ·· _ H & D Div 1st 1910.·-··· 71021210234 102121025s 1021210258 ···1021210212 -··· 1011210112 101 101 ·· ·- ·-·· ..•••••• 100 10014 ·· · - • . 1st 1910 .............. 5 -··· ............ 101 101 ···- •••• ···- •••• ···- -··· ••. • -··- ••••••••..••••••...••••. 100 100 ·--La Crosse & Dav 1st 1919. 5 .... .... .... ·-· · --·· .... -··- 107 107 ·· ·- •••• 107 107 · ··- --· · ____ __ _ Mineral Point Division ... 5 1011s 101as 1015s 10134 1013s 10138 1013s 1013s •..• 1001s 1001s --·- ···--So Minn Div 1st 1910 .. ... 6 10112 102 10134 10178 1015s 10134 10112 10218 10114 10112 10114 10114 101 10114 1003s 10012 1001410014 10014 1ooi~ 100 10(} - ··-- ___ _ Southwest Div 1st 1909 ... 6 1003410034 1003410034 1005s 10034 10os8 10058 1003g 1003s ••• • •••• . ••• Wisc & Minn Division .••. 510934110 •••••••...••••.....••••• 110 110 1093410934 1093410934 .• •• 1081410834 •••• :108 IO~ls Mil & or 1st ML 1910 .• • 6 •••• •••• •••• •••• •.• • •••• • ••••••• 10134 10118 10134 10134 .. .••••. .• •••••• ···- • • • • 10014 1003:: 1001/"s 10018 Mil & Nor 1st cons 1913 .. 6 .... .... 10758 10758 •••• 10734 10734 • ••• 1053s 1053s 1•• .• Chic & Northwest-1915 ... 7 .... 1155s 116 116 116 1153411612 11512 11512 115 11514 11414 115 1147s 115 11312 114 113 114 113 11334 11:i 114 Extension 1886- 1926 .... -4 ···- -··· .... 101 101 ·· ·- -··· •.•• 102 102 1003410034 ...•••• . •• •• - ··· 1007s l007s 100 10014 9912 991 2 Registered ·····-····· -4 9934 9934 10014101 100121001210012100121001210012 ..•• General 1987 gold ...... 3 ½ 93 9434 9212 9414 925s 9,!12 9234 9314 9212 93 9012 921 8 9134 921s 903s 9134 90 9012 8934 91 8912 903s : 8914 90 Registered .......... 3 ½ .•...... 933s 933s ••• ••••• 93Is 931s •••••••.•••••••.••••••.. •.• ••.••..•••.•.•.•••••• ···- ···- ·--- __ __ Sinking fund 1879-1929 ... 6 ................ -··· .... -··· ···- -··· ···- -··· ........ 112 112 .• •••••• 1101g 1113s 1111411114 ·-·- -_-.-_-_ Registered ............ 6 .... 1093410934 •••• •••• • ••••••• . ..••....••• Sinking fund 1879-1929 ... 5 108 10812 ··-· •••• 109 109 10812109 1os1210858 •••• 110 1101s • ••• ··-· 1081210812 1093410934 ••• • Registered ·---········ 5 1103411034 ...• •... • ••• .. •••••••••••••• ··-- •••• ··· - •••• 1091210912 Debenture 1909-····-····5 10014100141001210012100121005s 10034101 10058 10034 1001210058 •••• · ··- -··· ···- -·-· ···- -··· •••• -··· •••••• ·Registered ··--········5 .... .... 1005s 1005s 1005s 1005s •.••..•.•.•••••••••• ··-- -··· ·· ·- -··· •••• ·-·· Debenture 192L -·-······ 5 108 108 1091410914 10914109141071210712 107 107 10712107121071210712 ..•• ··-· •••••. •• ·· ·Sinking fund deb 1933 .... 5 1117s 1117s 113 113 11312113121131211312 1131s 11312 113 113 ·· ·- •••• 111 111 •••• 109 1125s -··· 109 110 Manitowoc GB & NW1st3½ .... ···- ............ ···- ···- --·- -·-- ____ -··· ........ ···- --·· 9012 9012 ···- -··· ·--- ---· .•.••••• Northern Illinois lst ...• -5 •••• • •.• 101 1011s 101 101 ··-- --·· ···- -··· .••••• •• ···- -··· •••• -··· ···- -·-· ··- - -·-· . . . • . · ·Ottumwa CF & St P lsL.5100 100 1001s 1001s ••• ••••• ···- -·-- ··-- --·· ..•••.•. ··· - -··· ••• • -··- .•• • -·-· ··- - -··· ·· -- -··· •••••••• Fremont Elk H & Mo V 1st. ................. ........... -··· ........ 132 132 ..••..••••.•••••.•••••••.•••..•• ···- -·-· •••• ··-Milw LS & W 1st 1921g •• 611934119341191211912 .•••••.• 1193411934 119121191 2 119 11912 119 119 11s1211812 118 118 1171411714 · ·-- -·-· ••••••• • Ext & impt 1929 g .••••• 511312115 ••••••••.•••••••...••••••••• -··· ··· --·· 113 113 ·····-· 1111 2 1113.£ Michigan Div 1st 1924 g .. 6 123 123 ••••••••••••••.. 122341231s ...••..• ·· ·- •••• ···- -··· ···- ---· ••• ••••• ···- -··· .•••• ••• •••• ···Income 1911·-· ···-··- ·6 ··-- .... .... . ... ···- .... 1031210312 .••••••••••• -··· ···- --·· ···- -·-· .••••••. ···- •••• ··-- ·--114 11518 114 115 •••••••••.•• 114 114 1131211312 128 128 12112128 .• •• •••• .••• •••• Chic Rock Isl & Pacific Ry- Mortgage 1917·-·······-6 1137s 114 114 11412 114 1141s 11334 1141 8 •••••••• 11314 11418 113141131211312114 113 113 1125s 1125s 1121211212 1115s 11134 Registered ·-··········6 .................... ·-·- .......... . . . .. ................. 1131211312 ••••••••••.••..•..•••••••••••••• General 1988 gold---··-· -4 997s 101121001210112 100 101 10014101 10034 1011210012101 991210012 9914 997s 98 9934 985s 9934 99 100 9812 9912 Rtigistered ·-·-·-······4 ···- ........ ···- 9934 9934 lOOis 1001s .•.•••••.• •• . . . . . . . • . . . . 99 99 .••••••• ••. ••••. ···- •••••••••••• Refunding 1934 gold ..... 4 905s 9212 9214 94 9214 93 921 8 92a4 92 9318 911 8 921 4 9F•s 927s 901s 9214 911s 927s 8934 9112 9013 907s 901 4 9134 Registered ·-·--····-· -4 ·- -.... 92 92 ···---· ···- •••••••• Colt trust series J 1912 .... 4 ···- ·--· ·-·- -··· ···.... 97 97 .••••••• ·· ·- --·· •••• -··· ···-·- -- •••• Series K 1913- ........ -4 ........ ··-· .... ··· - ··-· 96 96 •••• • ••• ··· - -··· ··- · -·-· 96 96 Series L 1914- .. - ...... 4 ···- ··-· ........ ... . -··· -··.... ···- .... ···.... 96 96 Series M 1915.· -·-····· 4 ·-·- .... 9412 9412 9412 9412 ····-·· •••••••• 947s 947s ···96 Series N 1916.---·-·-·-4 ···- .... 9334 9334 · · · -··· 9512 9512 ···- •••• ··-· ·-·· 94 Series O 1917· -·-·-·-·-' ........ 95 95 ••••.••••••• 9312 9312 •••• Series P 1918 .......... 4 .... ..... . . . . . . . ···........ -··· 9312 9312 ···CR I & P RR 2002 ·-·---' 7512 79 7712 s112 78 7912 7834 s114 so1 4 s21 4 7914 81 SOis 8112 7912 8112 78 SOis 7612 785s 7634 783s 7814 85 Registered ..... .. ..... 4 .... .. . . .... . ........................... 80 80 ..•••.••••••••••.•. • • •••...••.•..••• Coll trust 1913 gold._ .. 5 8712 9312 90 9312 89 91 9014 93 9212 941 2 9112 9312 92 94 9214 9334 9134 93 9012 93 9114 1005s 101 10234 Burl CR & Nor 1934 g. __ .5 116 117 •••• • ••• 115 115 115 115 ···- ••••.••••••• • ••••.••••••••••. •• • Choe O & G cons 1952 g_._5 ···- .... ···.... 111 111 •••••••••••••••••••••••• lllls lllls •••••••••.•• Keok & Des Moines 1st._.5 103 103 •••••••• 105 105 •• ••• •••••••••• • ••.•••••••••••••..•••.••...••••• 105 105 104 105 .••• Chic St P Minn & Omaha._ .6 12912 13078 13012 13058 130 13014 130 1301 2 12938 130 12834 1291 2 129 -2 12934 12914 12914 127-2 128 127 12834 127 127 1265s 1265s Chic St P & Minn 1st g ... 6 1291212958 .••••••••••••••• 1297s 12978 12914 12938 ·-·· •••• 12812 12812 ···- •••. 12814 12814 ..•••••. 127 1283s ···- ···North Wisconsin 1st ..... 6 ·--- .... ···- .... ···- ............ 1295s 12958 ··-- •••..••••.•••••••••••••••••• •.• ••.•• . ... •.•.. ••• ···St Paul & Sioux City 1st g . 6 ···- -··· ···- ............ 117 11714 11534 11534 •••• -··· 1155s 1155s 1101211012 .••••••• 114 11418 1141411414 114141143s Chic & West Indiana-1932.6 ···- -··· ···- ···- 112 112 1121211212 •••• ·-·· ••••••••••••••••••••••.• •. •••••• 1121211212 111 111 1101211012 Consol 50-year 1952 ...... 4 9634 9712 97 98 9614 9714 96 9612 953s 96 9514 9558 941s 9414 9334 9412 9412 9412 94 9412 93 9312 9234 931s Cin Hamilton& DaytonCin Day & Iron gu 1st g .. 5 95 95 ·-·- ·-·· 10214103 ···- ·-·- ·-·- ·-·· 10714 10714 .•• • -··· 1091210912 105 105 1057s 107 10634108 1071210812 Cin Ind & W 1st&ref g ...• 4 •••• -··· •••••••• ···- •••• ·--- •••• ···- •••••••••••• . ••••••• ··- · ··-· ···- ••••..•••••• 87 87 88 88 Ind Decatur & West 1st sc.5 Clev Cin Chic & St L-'93 g.4 Cairo Division 1st 1939 g.4 Cin Wab & Mich Div lsL-4 9612 9612 ••••••.• · ··975s 987s 9734 9834 9714 9512 96 9512 9534 96 •••••..•.•.••••••••• St Louis Div 1st 1990 g .. -4 9512 9734 9512 96 9534 •• ••••.••••••.. • ..••...• 105 105 98 98 9712 99111 977s 9812 9~s 9714 ..•• • •••.. .••••.•••• ···94 94 •.•• 9412 9412 941s 943s 95 95 95 95 95 9512 94 94 Si,r & Col Div 1st g 1940 .. 4 .... ____ ·--- ... . .... .... .... . ... 96 96 CI St L & C cons 1920.--6 .................... --·· 106 106 •••• •••• .••• •••• .... .•.• • ••• •••• .••• • ••• •.•••••• 1037s 10373 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis -··· 9812 96 -·-96 ••••••••••••••••.•••••••...•..•••••••.•• 9712 98 9714 981 4 9712 98 9712 98 98 9812 ·--- -··- 97 97 •••••••• --·· ..•• 9412 9412 94 94 941 2 95 ...••••. 9412 9412 9412 9412 9612 961 2 9534 961 2 9534 !!678 957s 9614 957s 96 l02 RAILROAD BONDS. 1909-Contlnued. January BONDS February March A pril May June July A ugust · September October Novem ber December Low Htgh Low Ht,gh Low Htgh Low Htgh Low Htgh Low Htgh Low High Low High Low High L ow High L ow H igh Low H i gli - - - - - - - - - -- - - - - - - - - - - - --1-- -- •1-----1- - ---1-- -- - - -- Clev Cin Chic & St L-(Conct .) CI St L & C 1st 1936 g ___ ,t ___ _ Registered - - ------- - --• Cin Sand & Clev cons 1st g.5 CCC & I cons 1914 ____ __ 4 Oen cons 1934 lt-- -----6 Peo & East 1st cons 1940-4 Incomes 1990 _____ _ _ ___ 4 Colorado Midland-1st g _ _ _,t _ ___ 9812 9873 ____ ---- ---- --- - ____ _ ___ 10914 10914 ____ ---- ---- - - - - - --- - -- ____ --- - -- -- ___ _ --- ____ ____ 9878 9878 987a 9873 985s 985s ____ __ ___ ____ ______ _ ___ _ 10918 1091 2 _____ ___ ---- ____ ___ _ __ __ ____ ___ _ 1111211112 985s 985s 98 9812 ---- -- - _______ _ 9514 951 2 96 96 471 2 4912 50 53 8534 8678 82 8334 9718 98 9 734 9813 991 4 9934 9834 9958 11534 1161 2 1151 4 1151 2 - --- ---- -- - - -- - - 9314 9334 95 95 5512 6013 56 59 8234 8512 80 82 98 99 9734 9812 9812 9912 9734 993s 11 513 11534 115 1153s -- -- --- - - - -- -- - - ____ ---- - - -- ---- ____ ____ ____ ____ 93 9458 50 56 80 82 Colo & South-1st 1929 g __4, 9714 99 Refund &. exten 1935- __4 ½ 9634 100 94 94 40 40 81 87 9833 9878 991 4 10018 117 11714 ---- ---- 9434 95 41 45 84 861 4 975s 9834 9933 100 116 117 ---- ---- 95 953s 47 48 85 871 2 971 2 98 9938 9934 11534 11614 - -- - ---- ---- ---- 100 100 ____ 1091s 10913 ____ ---- ____ - --- ____ ---- ____________ 9214 9214 5014 5214 82 86 98 931~ 981s 9912 11412 11512 -- -- -- - - 9212 94 57 63 8014 817s 97 98 973s 9812 114 11434 - - - - - -- -. Ft Worth&. DC lst- - - -- - 611 538 117 Cuba RR-1st 1952 gold- - -5 95 95 Delaware Lack & WesternMorris & Essex 1st 1914 __711 41 2 11458 11414 11 4¾ ____________ ____ 1137311414 1135s 11358 1131411314 - --- ____ - --- ________ ____ 1st cons gu 1915 __ ___ __ 7 117 11112 11118 11118 ________ 11 634 11753 __ _____ _ 11612 11612 1161s 1163s 1155s 1155s 1145s 114f>g 1141211412 1st refund gu 2000 lt- - -3 ½ ___ _ ____ 9333 933s 9614 9614 _____ ___ ___ _____ _______ _ 94 94 - - -- ---- 94 94 -- - - - -- NYLack&West1st'2L-6121 121 12033 12012 - - - - ___ _ 11 934 120 11 95s l20 1195s ll 958 119 119 119 119 118 118 ll71sll8 Construction 1923. __ ___5 112 112 112 112 11 214 11214 11218 11 23s 11014 11034 11012 11012 11012 111 _-- _ • ___ 110 Ill _ _ _ _ _ ___ Terminal & impt 1923 __ _4, ___ ___ _ _ 10014 1001 4 ________ 9918 1007s 10034 10034 __ __ ___ _ 1001210012 10 034 10034 - --- ____ l 00i2 10012 Del & Hu..dson-Penn Div._ 7 ___ _ ______________ ______ 121 122 1201 8 1201s __ __ ____ - --- - - - - - - -- __ __ 120 120 __ ____ __ Converti:f,Ie 105 1067s 10312 10614 102 10434 8 106 2 10238 1001 4 102 Registered1916-____ ________ ______-4 4 1011 __ __________ ___ __100 __ _ 101 ____ 1011 ___ _4 104 ____ 103 ____ 1075s __ ___104a ____ __ _ 105 ____ 106 ____ 105 105 ________ __ ____ __ 1st lien equipment 1922-4 ½ 1st refunding 1943 __ ____ _4, 1 Registered ___ _______ __4 Alb & Susq conv 1946 g . 3 ½ Rensselaer & Sara 1st '21- 7 Denver & Rio Grande1st consol 1936 gold ______ 4 Consol 1936 gold - - ---- -' ½ Improvement 1928 gold -- 5 1st & refunding 1955 _____ 5 Registered ____________ 5 Rio O Sou 1st 1940 guar-- 4 Rio O West 1st 1939 g ___4 Mtge & coll tr A 1949 g _ 4 Detroit & Mackinac 1st lien 1995 g _________ _-4 Gold 1995 ______ ________ -4 ___ _ ____________ 1031 8 1031 4 ________ 103 1031 2 10112 10312 1035s 1035s 1027s 10213 101 1017s 10134 10214 1017s 10212 10214 1025s 1023s 1027s 101 34 103 1017s 10212 10114 1023s __ ___ ___ ____ _____ ___ _______ _ ____ 10214 10214 ______ __ - -- - - - -- -- - - -- - 98 991s 98 9812 97 __ __ ____ ____ ___ _ ____ 96 9812 106 106 10134 10134 925s 927s 97 9814 10312 1031 2 10214 10212 9234 953s 97 9712 98 98 96 1021 2 102 10534 105 106 104 105 _______ __ __ ____ __ ___ 1281412814 ___ _ ____ 98 107 9612 9734 9714 9734 104 10212 103 9234 9434 __ _____ _ 95 90 80 116 9714 9712 - -- - ---10212 10212 9412 9512 ___ _ __ __ 88 89 82 82 82 115 ________ 1115s 112 ___ _ 11412 11412 114 11414. - --- - - - - ______ _ _ 1177s l1773 ____ ___ _ 110 110 10912 10!l7g 1001210012 9934 10012: - - - - - - - - 1181211812 10012 10a 10112 103 ___ _ ___ __ ____ __ _ 1031s 1031s 1031s 10314 1023s 10234 1017s 1023g 101 10112 10012 101 10014 101 100 1007& - --- ---- --- - -- -- --- - ---- _____ __ _ 104 10514 10112 102 100 10112 9912 1007& - --- ____ 128 12814 128 128 97 95 9658 104 10334 104 10234 -- -- - --94 9312 9412 ___ _ _____ ___ ____ ___________ _ 9412 941 2 78 78 ---- - - -- -- - - ---- - --- ---- -- - 78 78 9512 95:i4 9512 96 951 2 963s 9434 95 9434 9512 93 93 9214 95 8513 8512 85 8512 ____ 83 83 8312 8312 84 84 ___ _ ___ _ _______________ _ 103 10212 10312 1021: 10312 10212 10312 9334 95 94 95 933 95 __ __ ___ _ __ ______ ______ ___ ___ ______ __4 ____ ___ _ _______ _ ______ ____ __ 80 80 ___ _ ____ 95 1001s 961 4 9834 961 2 98 961• 961• 96 9634 83 87 85 85 83 8512 851~ 86 • 8512 87 95 89 Detroit Sou-Ohio Sou Div-4 80 Dul & Iron Range-1st 1937.5 114 104 9812 9912 _______ _ _ _____ _____ _ _ ___ _______ _ ____ 10914 10914 125 125 ____ __ _ _ 91 9212 92 93 62 63 62 6712 8012 82 8012 811 2 97 9712 9614 9712 9714 98 9714 931 8 11312 11312 113 1131 2 -- -- -- - - - - -- ---- 973s 9712 97 9712 9612 - -- --- - __ __ 104 104 ___ _ 95 961 2 947s 9534 93 ____ ____ 931 2 931 2 93 93 95 95 - --88 90 ____ 90 90 92 92 ____ ____ 81 81 ____ - --- __ __ 81 113 113 113 11312 1111 2 113 - - - - 9714 ---• -- - 951g 96 104 10234 9314 95 95 - --- ---- ---- ----- - - ---- --- - 91 927g 7034 __ __ ___ _ 731s 7334 735s 7478 - -- - 111 111 Dul Mtssabe & Nor- 1941- . 5 __ ____ _____ _ - - - - --- ____ ---- ---- -- ----- 106 106 _ ___________ __ __ ___ _ --- Dul S S & Atlan- 1937 g ___ 5 ________ 11 012 11 01 2 ____ ____ 11 0 110 ll0 110 ___ _ Elgin Joi & Eas- lst 1941 g . 5 ________ 11214 11214 _ ___ _ ___ 115 115 115 115 - -- - ---- 115 115 115 11 5 115 115 112 112 113 113 Erie 1st ext 1947 g __ ___ __ _ -4 ____ ____ __ __ __ __ ____ ____ ____ ___ _ ____ ___ _ ___ _ ____ 101 101 ___ _ 2d ext 1919 gold ________ _5 __________ _____ _ 1051 2 106 10614 10614 _____ ___ 10658 10658 10614 10614 ____ _ ___ 10614 1063s ___________ _ 3d ext 1923 gold --- -- - -4 ½ ________ 10412 1041 2 ________ 1041:i 1041 2 ___ _____________ --- - - - - - --- - ____ - --- ____ 10414105 --- - ---- ___ _ 4th ext 1920 gold __ ___ ___ 5 __ ___ __ ___ ______________ 106 106 1061 4 1061 4 ________ 107 107 10112 10112 - -- - ---- - - - - ___ _ 1061 2107 5th ext 1928 gold .- ______ 4 iJ7 97 ________ ______ __ ____ ___ _ _______ __ ___ __ __ ---- --- - ---- - - - - -- - - - --- --- - ---- ---- - --- --- 1st con sol 1920 gold ______ 7 1241 2 1247s 1231 2 1235s 1221s 12214 121 121 124 1241 2 12414 1241 4 12414 125 124 12 12514 1243s 125 12 Fl4 12212 12034 1221s 121 122 1st consol fund 1920 _ _____ 7 __ ________ __ __ __ ___ _ _______________ _ ____ 122 122 1221212212 124 124 -- -- ____ ___ ___ __ ____ _____ ___ 1st cons prior lien 1996 g _ -4 85 8812 8712 901s 85 871 2 8634 88 88 91 8934 903 8812 907s 8814 9012 8812 891s 82 8812 84 86 84 87 Regi s t er e d ____________ 4 ____ ________ _____________ _______ 861 861 _______ 4_ - --- ____ - -- - ____ - --- ___ _ -- - 82 83 2 2 1st cons general 1 996 g __ -4 7012 74 7112 7712 6912 7434 73 76 7612 80 7712 7912 78 7914 76 791s 7534 77 75 77 751s 7612 7.534 77 Penns ylv coll tr 1951 g ___ 4 8514 851 2 8312 8478 7514 80 7914 851s 8512 8914 89 90 89 90 8714 8934 84 85 81 8 112 81 83 83 861.,. 50- yr conv ser A 1953 g _ -4 711 2 771 2 73 72 715s 771 2 7734 86 8514 87 85 8712 86 8914 8212 87 8034 85 80 82 80 821; 75 63 1 50- n conv ser B 1953 g _ .4 6312 681 2 6212 69 5712 645s 631 8 6934 6934 761 2 75 7612 75 7734 74 80 73 76 7112 75 69 ! 73 711s 7334 Buff NY & Erie 1st 1916 __7 ______ __ ________ 115 115 ____ _____ _______________ 116 ·116 11613 1161s - -- - - -- - ---- ---- ---- -- -- ---- --- Chicago & Erie 1s t 1982 g . 5 1155s 11534 1157s 117 1161 4 11634 11 51 4 1151 2 ________ 11 7 11 112 1157s 11612 - - -- --- ____ - - - - 114 11412 1133411334 Long Dock cons 1935 g ___6 l 27 127 __ ___ ___ 12818 1281s 1281 2 1281 2 12812 12312 127 127 - --____ 12612 12612 --- - --- - 12614 12614. Coal & RR 1st curr 1922 - - 6 ________________ 120 120 _____ ___ 1121211212114 11412 - ---- - - --- - -- - - - -- Dock & impt 1st 1913 ____ 6 ________ 106 106 __ __ ____ ____ __ __ ____ ____ ____ _ ___ 10312104 NY & Green Lake gu g ___ 5 ___ __ __ _ __ ____ __ 108 108 ____ ____ ___ _ ____ ____ -- -- --- - -- -- ---NY Susq & W 1st ref g ___5 107 107 1071s 1071s __ ____ __________ 10514 106 ____ --- - 106 106 - - -- ---- --- General 1940 gold . ____ _5 91 92 __ __ ____ 9034 9034 ____ ____ 90 901 2 ____ 90 ---- ---- 891s 89 1s ---- - -- - - - -- --- 90 Mid of NJ 1st 1910 g ___ 6 l0134 1021 2 102 102 102 102 102 102 1011 2 1011 2 _ ___ ---- - - - - ---- 10012 10012 1003310034 Wilkes & East 1st gu g . 5 101 102 ____ ____ ___ __ __ ______ ___ 10334 10334 105 10514 - - -- ____ 10412 10412 -- -- ____ 10312 10312 10512 10512 ____ __ _ _ Ev & Ind- 1 s t cons gu g ___ 6 1091 2 1091 2 1121 2 1121 2 ________________ 115 11 5 114 114 112 114 114 114 114 114 114 11 4 - - - - __ __ ___ _ Ev & T H - lst cons 1921 g . 6 ______ __________ 11358 11358 _____ _ __ 115 115 114 11412 115 1151s - --- __ __ 115 115 113 113 - --- -- -- 115 11 5 1 s t g e neral 1942 gold __ ___ 5 ______ ____ _____ _ __ ______ ____ ___ _ 103 1041 2 ___ _ __ __ 1031410314 1031s 10314 ---- -- -- ---- __ _____ _ ___ _ 10014 10014 Ft Worth & Rio Or- 1st g _-4 85 8712 8712 88 88 88 871 2 8712 8712 8734 __ ____ __ 86 88 - - - - ---- 86 86 86 86 86 88 ____ -- - Oat H & Hof 1882- l s L ... 5 ___ _ ____ _____ _______ ____ 99 99 _____ ___________ 97 97 --- - ---- --- - ---- --- - - --- - - - - -- -- -- - - - -- Ot North- C B & Q coll tr _-4 971 2 981s 9734 991 4 98 991s 981s 987s 977s 9834 9712 9858 977s 985s 9714 983s 965s 9734 9512 975s 9514 961 2 9"55s 973s: Registered . _____ ____ _ .4 971 4 98 9712 99 98 983s 977s 9314 9718 931 2 971 4 98 981s 983s 9734 977s 9634 9714 9514 97 9 512 9534 9512 971& St P Minn & Man 2d 1909. 6 102 104 ________ 102 102 102 102 1011 4 102 1007s 1007s - --- ---- --- - - - - - -- -- - - -- ---- -- - - --- - ---- ---1st cons 1933g ___ _____ 6 131 131 131s8 13I5s 1325s1325s l 321s13218 1321sl321sl3134 13134 .•• _ ____ 132 132 130 131 130 130 128 128 ______ _ _ Registered ---------- -- 6 _________ ___ ____________ 132 132 ________ ________ -- -- ____ - - - - ---- --- - -- - - -- -- - -- - ---- ---- ___ _ ___ _ Reduced to ---------' ½ 109 111 10914 1097s 10914 1091 2 1091 2 1091 2 10912 1095s 10858 100 108 10834 108 108 10712108 ---- ____ 10734 10734 106 1071s Dakota Ex ten 1910 g __ . 6 ____ ____ 10314 10312 1031s 1031 2 1027s 1027s 10238 102ss 1021s 10214 1021s 1021s 1021s 1021s 102 102 10 13s 1013s 1013s 1013s I0I3s 1013s Mont Ext 1st 1937 g ___ -4 100 10014 9934 100 1,914 101 10014 10014 1001 2 101 10012 10034 10012 10034 10034 10034 ---- ___ _ 9812 997s 99 100 9734 99 0 82 114 ~~~~2 ~~~ ~ 1 ~~~t:=1;; 1m~ t:6~~i;:r~.i~~i 0 815s 70 :~~~4 :~~ ~ iii= iii " ==== 1 == ==== ==== == == 131s8 1325s 1301 ====4 1301 ====4 _______ _ 13 ==== == ==4 130121301 ==== == ==2 130 130 ___ _ Mont Cent 1st gu 1937 g 6 == ____ ______ __ ==== ___ _ ==== _____==== ___ ==== ________ 1341313 1st gu 1937 g _______ _5 116 117 11 558 11558 11612 11612 11 5121151 2 11414 115 11 414 11414 - -- - ____ 115 115 11414 114141131211414 ___ _ Oulf1il~hi; ~1!~ 111M=== J Hocking Vall- 1st cons g _4 ½ Col & Hock Vall ex t g ___ __ 4 Col & Toledo ex t 1955 ___ __ 4 Illinois Cen t-1st 1951 g ___4 1st refundin g 1955- ____ _ . 4 1st 1951 gold - - - ------ - 3 ½ Registered - --- - ---- - 3 ½ Extended 1st 1961 g ____ s ½ 1st sterlin g 195L . ____ ___ 3 Collateral trust 1952 g ___ -4 1 L ~{~i!iefe f9s a-g::::::: : : Cairo Brid ge 1950 g ____ _ -4 Litchfield Di vision. ___ _3 ½ Lou Di v & Term 1953 g . 3 ½ 4 1 1 63 ==== == == _ _ _~ 10434 10734 10734 108 ___ ___ __ 981s 981s 97 97 9914 9914 ____ ____ 1035s 10358 995s 1005s 1005s 10 112 1 -~~- 97 ° -971g ==== ==== ·;:;s· -96-- 9512 -9512 ==== 105 10534 105 106 10512 106 10412 105:i~ 104 1045g 103 _______ _ ---- --- - --- - ____ - - - - ____ --- ____ ____ __ __ ____ ____ ____ ____ ____ ____ ____ --- · ___________ ___ __ ____ ____________ 1043s 99s 1001 995s 10012 987s 9934 9812 9934 99 9934 99 _______ _ _____ ___ ______ _____ _ ____ _______ _ 937s8 94124 9212 93 94 94 8812 90 ___ _ ______ __ ______ __ __________ __ _______ _ __ _____ _ __ __ _____ ___ __ ___ __·_ 94 94 ___ _ 9434 9434 ______ __ ___ _____ ______ __ 9312 931 2 ____ ___ _ -- -- ---- ____ ____ ---______ __ ___ _ _____ ___ ____ ________ ___ ________ _ ____ 80 80 _____ __ _ ___ _ - --- ___ _ 10014 10012 1001410014 1001410018 102 102 1001410012102121021210212 10212 102 102 ____ ==~~ ==== === = ==== == == == == ==== 10734 109 104 106 _____ __________ _ ____ ____ __ __ ____ 104 104 104 104 1003s 1007s 10038 1007s 8·;:;;:;· 10512 106 9812 983 ____ ____4 __ ______ 1001s 1005s 4 ==~- ioo· 1cio · ioiii21ooa~j iiioi 2 i o-i s io-ii; 1001 10·1 · 1ii14 1iis8 ____ _____ _______ 991 991 100 100 ___ _____________ 2 2 __ __ ___ _ ____ ____ 701s 791s 90 90 90 92 90 901 2 ______ __ 901 8 9 1 391 4 901 2 88 _ _ _ _ _ _ _ _ _ _____ _ _ R egistered - -- __ _____ 3 ½ 8712 8712 _ ___ ____ 88 Omaha Div 1951 g ___ ____ 3 ____ ___ _ ____ ____ 79 79 __________ _ _ 0 0 ---- 96 96 10312 10212 10353 _______ ____ _ _ ______ ____ _ 1043s 1051s 10 6 9912 99 991 2 -- -- 102 102 ioi - ioii5s ioo i 2 ioi· ioo· 100 1001 210012 10014 101 093,110014 _____ __________ _________ _____ _ __ ____ __ __ ___ _ ___ _ ___ _ 8912- St Louis Div&Ter '51 g - 3 ½ __ __ ____ ____ ____ ___ _ ____ ____ ____ 90 90 90 90 __ ______ 8912 891 2 West Lines 1st 1951g __ _-4 1001s 1001s ___ _ _ ___ l 0034 I 0034 ____ _ ___ 96 96 _____ __ _ Belle & Caron 1st 1923 ____6 __ ___ ___ 121 121 ___ _ ___ _ - -- - __ __ _ __ _____ __ __ Carbon & Sha w 1923 g ___ -4 ____ ____ 98 98 ___ _ ____ __ __ ___ _ ____ _ ___ 9613 961s _____ _____ __ __ _ _ Chicago St L & NO '51 g __ 5 ---- __ __ 1191211912 _____ ___ 11834 11914 11914 1193s ____ ____ 11934 120 11934 11934 ___ _ ____ 11912 11912 _______ _ 11714 11714 Regi s tered ___ _______ __ 5 ---- ___ _ 119 119 _____ ___ ________ __ ______ 1183 1183 ________ _____ ____ ____ ___ ________ ________ __ ___ __ _ 4 _____ _ __ _______ ___ ____ 90 Oold 1951----------- 3 ½ ______ __ 90 90 ____ ____ ____ ___ _____ ____4 __ ____ 90 ____ _______ _ Ind Illinois & la-1st g ___.4 96 97 98 98 ___ __ __ _ 98 98 98 98 9312 9312 98 98 98 98 _____ ___ 971 2 98 ___ _ _____ ___ ___ _ lnternat & Gt Nor-1st '19 g 6 110 110 - --- __ __ 110 11012 11114112 11112 11 11 2 109 109 1091 2 11018 100121091 2 110 112 110 110 ________ 10912 11012 2d 1909 gold- -- -- ---- --- 5 - - -- --- - -- - - __ __ 85 87 _______ _ 98 10012 10212 10314 ______ __ 1001410033 ________ ___ _ Trust Co receipts- - - - - - -- 8714 8812 8612 8812 8<P2 87 87 90 98 1007s 100 1031 2 ____ ____ 100 101as ! Olis 10312 103 108 10512107 106 10714 Sd 1921 gold ----- - - - --- -4 ---- --- - - - - - ___ _ ___ _ ____________ 50 50 48 48 ___ _ __ __ ____ ___________ _ _____ _____ ____ __ 40 40 Iowa Central-1st 1938 g ___ 5 1091s 10912 110 11114 1093s 110 10834 10934 I 093s 111 103 103 __ ____ __ 105, 2 1051 2 _______ __ _______ 1051s 106 104 1061 2~efnding 1951 g ------- -' 8012 82 7934 82 7834 81 7912 82 791 2 811 2 777s 791 2 77 771 2 76 77 7512 7714 7512 7 &34_ 7812 7634 771 2 75 Kans::.:i C Sou- 1st 1950 g __ 3 7234 75 7412 7514 7412 751 4 74:;4 751 4 7434 751s 741 4 75 74s8 75 745s 751s 7438 74i8 727s 741 2 73 7334 7234 74 Refundin g- c. impt 1950 .. . 5 - - - - --- - - -- - ___ _ ___ _____ ______ __ ___ ____ __ ___ __ __ 100 101 1001 4 10138 10014 1007s 1001 8 10034 1001s !Olis 10018 103 Lake Erie & W-lst 1937 g _5 11 25s 112511 11314 11 31 4 114 11414 1141 4 11414 1141 4 1141 2 11 414 11434 11414 11 5 11438 1151s 11438 1143s 114 1143s 114 114 114 114 2d 1941 gold- -- --------- 510112 10112 -- - - ---- 10714 10712 107 10912 _____ ___ 107 107 _______ _ 107 10114 ____ ___ _ I0734 10i34 107 107 __ __ --- North Ohio 1st gu 1945 g __ 511212 1141s 11334 1141 4 11334 11334 113a4 11334 ___ _ ____ ________ 113 113 ___________ _ ____ 11414 1141 4 _____ ___ 1121'.! 11 212 Lehi gl:t Val ( N Y)- l s t gu-4 ½ 10612 108 10734 10734 10734 10734 10712 1011 2 108 1081 4 10734 1ms18 10734 10734 10734 10734 1075s 108 _ _ _ _ _ ___ 107 107 10614 10634_ Reg istered - --- -- -- - - -- 4 ½ __ __ - - -- .- - -- ___ _ _____ ___ _________ ___ ___________________ _ 107 107 ___ __ ___________________ __ _ _ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I RAILROAD BONDS. l03 1909-Continued. January BONDS Feoruary March Aprtl May June July August September October November Decernber Low Htgh Low Ht(Jh Low Ht(Jh Low Htgh L<no Htgh Low Htgh Low High Low High Low High Low Htgh Low High Low High ------------1----------------Lehigh Val (Pa)-2003 g ___ 4 9714 9714 -- -- -- ·- 97 971s 9712 9712 ----·--------1----1--------1-------9712 98 ________ 9712 9712 ________ 9712 9712 9712 9712 ___________ _ Lehigh Val Term-1st gu g . 5 1161411634 117 117 1183411834 1181411814 117 118 ________ 11534 11534 ___ _ ____________ 11514 11514 ___________ _ Lehigh Val Coal-1st _____ _5 ---- ---- ------- ---- ---- 109 109 ________ 1083410834 __ _ ____ _ 108 108 ___ _ Lehigh & NY-1st gu '45 g _4 ---- ---- ---- ---- -- -- ---- 96 9612 ________ 9612 9612 9634 9634 97 97 9634 9634 ___________________ _ Elm Cort & No gu '14 g ___ 5 ---- -- -- ---- ---- ------- ________________________ 1011410114 __________ ______ _______ _ Long Isl-1st cons 1931g___ 5110 111 ____ ____ ___ _ _ ___ 11134 11134 ________ 11134112 11258 11258 11258 11258 1121 2 112s8 1121 2 1121 2 Oeneral1922 1938g __________ gold-------4 -' 965s 965s ---- ---- 96 9612 9612 9612 97 97 9714 9714 9714 9714 ________ 973s 9712 ________ 981s 9814 97 98 Ferry ½ ________ 10012 10012 ________ 1001210012 __________________________________________ ___ ____ _______ _______ _ Unified 1949 gold--------' ____ ____________ ---- ____________ 96 9612 967s 97 9612 9612 96 96 98 98 9614 9734 ________ 94 941 2 Ouar refund 1949 g ______ -4 9714 9714 9714 99 9712 9812 98 985s 99 9958 9712 9712 97 9712 9814 9814 9712 9834 98 98 971 4 985s 971 2 991 8 Louisiana & Arkan-1st '27- 5 99 99 ---- ---- ---- ____ 98 981s 99 9912 97 9712 ________ 96 96 9712 9712 ________ 9612 97 ____ ___ _ Louisv & Nash-Oen '30 g __ 6 ________ 1171411712 117 117 116121161211512117 1161s 11612 117 117 115121161 211512116 116 117 1161 2 11612 116 1171 2 Oold 1937 _______________ 5 ---- ____ 110 110 1161211634 ---- ____ 117 117 ________________________________ 115 116 114 114 1141211412 Unified gold 1940--------' 1007s 102 101 10134 1005s 10il4 9934 101 10014 10034 993410012 9914 9934 9812 9912 9914100 991 4 10012 Re11:istered ____________ 4 1001s ---- 10114 ____ 1011410214 ---- ____________________ 100 10012 ____ ____ ____ ____ ____ ____ ____ ____ ____ _ __________ _ Sinking fund 1910 g ______ 6 ---- ___________ _ ---- --- - ____ ---- ---- ____________________________________ --~- ____ 1001210012 Collateral trust 19312'----51083410912 1093410934 1101211012 110 11012 110 110 1101211012 ________ 110121101:! 110121101 2 110 110 ___ _ 5-20-year coll tr 1923 g ___ -4 97 1001s 100 10014 100 1001s _________________________ ____________________________________________ __ _ • EH&. Nash 1st 1919 g __ __6 111 111 ---- ---- ---- ---- ---- ---- ---- ---- _________ _______ 1111211112 ________ 1111211112 _______________ _ Lou Cin & Lex 1931 g . . -4 ½ -- -- ---- 1073410734 ---- ____________ 1073s 1073s 1071410714 ___ _ _ _____ _____ _ NO & Mobile 1st 1930 g __ 5 ________________ 1243412434 1251 8 1251s 125 1251s ________ 1253s 1253s ________ 125 125 125 125 ________ 124,6 12418 2d 1930 gold----------- 6 120 120 ---- ____ ---- ---- ---- ____ --- ________ ____ ---______ _____ _ Pensacola Div 1920 g _____ 5 ---____ ---- ---- ____ __ __ ____ ____ ____ ____ ____ _ ___ lJl 107 St Louis Div 2d g ________ 3 ------- ---- ---- ---- ---- 71 71 ---- ____ ---- ---- ---____ ---- ___ _ Atl Knox & Cin Div _____ -4 95 9512 96 9614 9614 9612 961s 9612 96 9612 96 96 951s 951 8 9512 951 2 94 951 4 9334 943s 931 2 94 933.i 94 Henderson Bdge 1st '31g.6110 110 ---- ---- ---- ---- ____ _ ___________ ---- ---- ---- ____________________ ---Kentucky Central 1987 g_-4 96 9634 98 9834 9812 9834 ________ 9712 9734 977s 98 971s 98 971s 971s 9612 97 971 2 9712 97 97 ___ _ L & N-Sou-Monon joint._-4 88 88 8812 9114 9114 9114 88 91 8834 903s 8914 905s 89 9034 90 90 897s 90 9012 91 9178 92 ___ : Nash F & Sheff 1st gu g ___ 5 ________________ 1151411514 ________ 114341143 1125s 1125s 1131211312 __________________ ______________ ___ _ Pens & Atl 1st gu 1921g __ 6109 109 ___ _____ ---- ---- ________ 1091s 1091s4 ________ ___ _____ ---- ___ _________________ 1103411034 - --So & No Ala cons gu g ____ 51121211212 114 11512 __________ ____ ____________ ______ ____________ ____ 110121101:! ___________ _ Louis & Jeff Bdge-Ou g __ -4 ________________ 9412 9412 94 9512 9512 9512 ________________________ 94 94 9414 9414 94 94 ___ _ Mexican Cent-Cons 1911 g-4 84 . Trust Co certfs dep____ ____ 82 lstconsincome1939 g.____ 3 25 TrustCocertsdep _______ 2312 2d cons inc Tr Co ctfs. __ _ 22 87 85 26 26 241s 8312 8214 2412 2112 2112 86 8434 2412 23 2212 84 84 25 2112 2034 8612 86 2512 255s 2314 87 86 26 2514 235s 91 8812 2712 271s 2512 92 88 26 27 ___ _ 96 9512 9614 945s 95 94 95 89 ________ 945s 9434 ___ _ 26 ____ _ ___ 26 26 2812---- ____ 27 27 95 96 95 9512 95 25 _ ___ 26 ___ _ ---- 96 95 9634 2538 253s 231 2 2112 Mex International-1st cons 4 ---80 ------- 80 Mexican Nor-1st '10 g ____ 6 ---- ---- ---- ---- ---- ---- 101 101 1005s 1005s ___ _ Midland Terminal-1st '25-5 ---- ---- ---- ---- ---Minneapolis & St Louis1st gold 1927 _____ _______ 7 ________ 1331213312 ____ _ ___________ 1321213212 ___ _ Southwest ext 1st ________ 7 ---- ____ ---- ____ ---- ____ 1031s 1031s 1013410134 ___ _ ____________ ---1st consol 1934 gold------5 109 10912 109 llll4 11034 11112 no 110 ________ 109 110 1091s 10918 ____ _ ___ 107 107 107 10712 1st & refund 1949 g _____ -4 8414 85 845s 8714 8514 86 851s 8534 8514 8512 85 861 4 85Js 857s 8514 8512 85 85 1'.!4 84 8314 835s ---- ___ _ Des M & Ft D 1st gu _____ 4 ---- ---- ---- ---- ---- ---- --- - ---- ---- ---- ---- __________ __ ________________ 9112 9112 ______ __ ---- - -- M St P & S S M-COns '38 g-4 ____ ___ _ 9912100 9912100 99 9912 9934 9934 9918 100 9912100 99 99 100 10014 99 9958 991s 9934 9912 9912 Minn S SM & At-1st '26 g-4 ---- __ __ ---- -- -- 99 99 ________________________ 99 99 ___________ __ _____ ___ _______ ---Missouri Kansas & Texas1st 1990 gold. ___________ 4 9834 100 985s 1001s 99 100 99 10012 9912 1001s 997s 10014 100:is 10114 100 101 100 1005s 9834 10014 9834 9934 99 9934 2d 1990 goJd _____ ______ -4 8734 8834 875s 8834 8634 8734 87 88 8714 877s 87 8814 87 88 88 883s 88 8812 8734 8814 8612 88 86 8714 1st extension 1944 gold---5 10414108341081210912 108 109 108 109 107121087s ___ ___ __________________ 106 106 105 106 10334 10614 104 105 1st & refunding 2004 _____ 4 833s 8634 8614 871s 8512 871s 8612 877s 8614 87 86 8634 3514 8658 85 86 8458 8512 847s 851 4 8412 851s 8412 8514 Oen sinking fund 1936. -4 ½ 9014 9312 9112 937s 9112 921s 91 92 913s 917s 9014 9112 91 9112 9012 9112 9014 9034 893s 92 90 91 897s 917s St Lou Div 1st 2001 gold--4 ---- ---- 8912 8912 ---- ____ 88 8812 ---- ____ _________________________ _____ _____________ _ Dallas & Waco 1st gu g ___ 5 ---- ____________ 10912110 ____________________ ________ ________________ 105 1051s ________ - --- ---Kan City & Pac 1st '90 g . .4 ---- ___ ____ _____ 93 93 93 93 __________ ______ _________ _______________________ 91 91 :MoK&E1stgu1942g ___ 5113 11312114 11412114 114 11412114121131211414ll4 114 1131411314113 113 1141411414113 113 ____________ ---Mo K & O 1st gu 1942 ____ 5 108 10934 11012112 111 111 111 11114 lllls 11112 111 111 109 110 1091410914 ________ 1071210712 10634106341071210712 M K & T of Texas 1st gu g_5 106 10814 10934 110 10834 l0912 10712 109 10712 10914 10712 10712 1011 2 1071 2 10712 108 105 10814 1055s 1055s 10512 10512 10412 10512 Sher Shrev & S 1st gu g ___ 5 ________________________ 1101411014 ________ ---- ____ ___ _ ____ ---- ---- ________ ---- ---- ---- ---- - --- ---Tex & Okla 1st gu g ______ 5 108 108 11114 llFls ---- ____________ 109 109 ---- ---- 108 108 --- - ____ 107 107 ---- --- - --- - ---- 104 104 Missouri Pac 1st con 1920 K-6 11312 115 Trust 1917 g stamped----5 100121007s 1st collat 1920 gold-------5 101 10312 40-year gold loan 1945- __ -4 7834 825s 115 116 1141211512 1011s 10214 102 10 212 102 1031 2 1021210312 811s 851s 82 8314 11412115 1013410212 103 10334 83 8414 . Oen coos ry & I g 1931g.511114112 Stamped ____________ 5 ________ Unifying & ref 1929 g __ .4 86 8818 Riv & O Div 1933 gold_ .4 881s 90 11112112 111 11134 -.--- ____________ 883s 891 2 8812 9012 8934 91 9012 91 111 112 1115s 1115s 90 905s 903s 91 3d 7s 1938 extended at ___ .4 Cent Branch RY 1st 1919 g 4 Cent Branch UP 1st '48 g-4 Pac of Mo 1st ext 1938 g_-4 2d extended 1938 g _____ 5 St Louis Iron Mtn & Sou- 11434 115 113 11312 113 113 10114 102 101141017s 1015s 10214 1025s 1031410212102121021210234 8234 837s 82 833s 8134 8234 ________________________________ 961s 961s 9612 9612 ________ 89 94 9212 95 ____ ____ ____ ____ 923s 93 93 93 93 94 ---- ____ 91 91 89 89 ____________ ---- ---- ---- ________ ________________ 993410014 ___ _ ____________ 1003s 1003s 1003s 10oas ________ 1121211212113 113 113 11312 113 113 ---- ---- 113 113 111 11112 1103411034 895s 90 905s 91 111 11114 ---- ____ 857s 895s 8912 9034 11014 111 ____ ____ 8812 89 8834 897s ____ _ ___ 113 113 10114 1017s 101 102 102 1021210112102 8214 8414 8134 827s ---- ---- ____ ---9434 951s 9414 95 -- -- ---- ---- ---________ 100 100 ---- ___ _ 115 115 110121107s ____ ____ 883s 89 893s 897s 1091210934 109 ____ 87 8834 87 89 8934 87 Verdigris & I & W 1st '26 5 ---- ---- ---- ---- ---- -- -- ---- ---- ---- ---- ---- ---- ____ ____ ____ ____ ____ Mobile & Ohio-New 1927 g_611912125 1231212412 124 124 __ ______ 1225s 1223412212122121221412234 1221412214 ____ 1st extension 1927 gold.--6 117 117 118 118 1173411734 118 118 118 118 1173411734 ________________________ Oeneral 1938 go(d _______ .4 8612 8612 88 88 88 90 89 91 91 91 8812 8834 90 90 ________________ Mootgomen Div 1st '47 g_5 ________ 1121211212 ________________ 1123411234 1123411234 ___ ___ __ 1123411234 ________ Nash Chatt & St L-1st •13_ 7 1121411214 ________ 112 1121s ________ lllls lllls 1107s 111 1111211112 ________ 1103s 11012 1st consol 1928 gold------5 ________ 113121131 2 1131211312113121135s 1131211312 1131411312 113 113 112341127s ________ National of MexicoPrior Lien 1926 gold----4½ ______ __ 102 102 ---- ---- 102 103 ____ ---- 102 10212 1021s 1021s 102 102 ____ ---1st consol 1951 go(d ______ 4 80 8012 8114 8334 82 83 83 84 8314 85 831s 8412 831s 84 8312 8434 837s 84 National Rys of Mexico945g 9512 9412 96 94 953g 9412 95 9434 95 Prior Lien 1951--------4½ ---- --- - --- - ---- ---371 8 881 2 8712 885s 8712 88 8834 89 87 89 Ouar general 1977________ 4 ---- ---- - --- ---- ---N Y Cent & Hud RiverGold mortgage 1997 - __ _3 ½ 93 9414 9234 937s 9234 9314 93 9312 9314 9334 9234 9312 921 8 93 9114 9214 9112 92 Registered ----------3½ 9212 9334 9214 935s ________ 9214 93 9212 9314 93 93 ___ ______ _______ 9012 9012 Debenture 1934 gold- ____ 4 935s 95 9412 9512 9412 95 9412 9534 9514 9612 951s 9614 951s 96 95 9534 9514 96 Lake Shore coll g 1998- _3 ½ 84 8534 8412 8534 84 8434 8334 8434 8414 85 831s 8434 8212 8312 8212 84 8214 8314 Registered ----------3½ 83 8414 8412 841 2 82 8212 8234 8314 83 831 2 82~8 8258 811 2 811 2 8134 82 8178 82 Mich Cent coll g 1998---3½ ____ 8434 8434 83 84 8334 84 83 84 8312 84•1,q 8212 833s 8312 84 8212 835s Registered ----------3½ ____ 82 8212 _____ ___________ 8212 8212 ________ ________________ Beech Creek 1st gu ______ .4 ____ ____ 1003410034 ________ 1003410034 ____________ ---- ___ _ ---Mohawk & Mal 1s gu g __ .4 ____ ____ ________ 100 100 ____ _ ___ 1001410014 1001410014 Carthage & Adir 1st gu __ .4 ------- 9712 9712 ____ ____ ____ ____ ____ _ ___ N Y & Northern 1st '28 g.5 ------- ---- ---- ---- ---- ____ ---Pine Creek gu 1932-------61311213112 ____ ____ ____ ____ ____ ____ ____ ____ Rome W & O cons 1st----5 1105sll05s 1105sll058 ____ _ ___ 111 111 1101211034110 110 110 110 109 109 Rutland 1st 1941-.4 ½ ------- ----- ---0 & LC 1stcons gu _____ ___ -4 _____---____---_______________ 91 01 ________ 91 9312 9312 ---9312 --9312 9312 ---____ ____ Rutland-Can 1st gu g __ .4 9034 9034 ____ __ __ ---____ ________ 92 92 -- -St Law & Adiron 1st '96 g_5 ---- ---- 115 115 ------- --- - ---- ---- ---- -- -- ---- ---- ---- ---Utica & Bl Riv gu g _____ -4 ---- ---- --- - ---- ------- ---- ---- ---- ---- --- - ---- --- - ---- --- - ---LS&M Sgold1997----3 ½ 9418 9538 95 95s8 945s 951 4 9412 955s 9334 95 9314 95 93 9414 91 9312 911s 921s Registered ----------3½ ___ __ ___ 9334 941 2 931 2 941 4 921 2 921 2 9314 9314 ________ 921 4 9212 9012 91 ___ _____ Debenture 1928 gold----4 95 97 9534 97 951 2 97 951 2 96 9518 9612 9434 9614 9434 9514 9434 9514 941s 95 Registered _________ -4 ______________________ __________________ 951g 951s 9412 9434 ________ 94 94 25-year 1931 gold------' 95 96 951 2 9658 9514 957s 9434 96 9512 9714 9434 957s 93 9514 943s 951s 9334 947s Registered ___________ 4 ---- ---- ---- ---- ---95 95 ---Pitts & Lake E 2d 1928- __ 5 --- - ---- --- - ---- ---21 3 0 fli~~ ~n~eisst ~9~~~~~-~~~~ ~~~~ _ _ ~: ioi- io1- :::: 1931 __ _______________ _5 ------- ---- :::: :::: :::: :::: ---- ---- ---- ---1940------------------' ________________ 1001s 1001s 1001410014 ____ 20~:i:;t~~t!~-i929:::::: :::: ____________________ 1st 1952 gold---- ---- 3 ½ 92 92 911s 9114 925s 925s N y c &. St L 1st 1937 g __ -4 10012 10112 10012 10134 102 10214 Registered _____ ______ .4 ---- ---- ---- ---- ---- ---25-year deben 1931- .. 3 ½ 913s 9312 93 933s 9314 935s West Shore 1st 2361cu--.4103 1035s 1031s 10412 103 10312 Registered ___________ .4101121021? ~214_!03 102 10312 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 9438 9514 941 2 9518 9334 943s ________ 92 9214 90 90 1011s 102 10114 1017s 10034 10112 ---- ---- ---- ___ _ 1001210012 9312 94 9312 935s ________ 103 10312 102341035s l013410234 1017s 1027s 10112102 14 lOO~s 10212 112 112 10114 102 1011210212 7934 8112 ---- ---947s 947s 8812 8812 1003s 1003s ---- ---10912 _ ___ 8834 8912 112 1121s 101 1015s 102 10314 7934 81 ts 9534 0534 947s 947s ---- ---1003s 1003s ---- ---- 111 111 12 101 10112 102 102 803s 82 ---- ---95 1s 951s ---- ---1003s 10012 ---- 1087s 1097s ---- ---8634 875s 87 88 109 110 ---86 87 87 88 102 102 120 12212 ---8914 90 ---- ---1083s 109 111 111 ____ ________ _ ___________ 1173411734 ---- ____ 8912 90 8812 8912 112341127s ________ 1091410914 ________ 112 112 110 11034 --- - ---- ---- ---- ---- ---8312 8312 83 84 84 84 931 2 9434 9334. 941 2 935s 9434 8714 88 8712' 88 88 89 903s 917s 9014 91 883s 883s ---- ---953s 96 9412 955s 8034 8234 8012 81 801? 81 79 79 8112 82 8012 81 ---- ---- __ __ 100 100 100 100 ___ _ ---___ _ ______ ______ 108 108 ---- ---- ______ _______ ___ ---- ---- 1083410914 ---- ---- 1081210834 1 1 99 91 ---91 91 2 99 91 2 ---905s ---905s _____ _______ ---- ------- ---- ---- ---- - -- ---- ---- ---- ---- 102l4102l4 9134 92 9112 92 9134 92 14 9012 9012 ________ ---- ---9414 95 9412 95 94 12 9514 _____ ___ 9412 9412 ---- ---941s 947s 94 947s 9334 9512 ---- 93 5s 93 5s -- - - -- --- - 100 ---- 115 115 ------- 9834 9834 ---9312 93i2 9234 9312 9312 9312 ____ ____ 10034 1013s 1003s 10114 ---- ---- 100 100 9212 9212 ---- ---102 103 10214 103 100 101121001210112 91 92 ---95 12 957s 80 81 7812 80 80 80 14 7812 7812 ---- ---100 100 ---- ------- --- - r. · ,, ,, 9212 925s 9112 9234 " --- - ---- ---- --- · 10014 101 99 12 l ,, ,i og, 2 101 ---- ---- ---- --- · , 9112 9134 -- _ ---- _______________ _ 101 10212 • o~,.. 10314 103 10314 1011 2 10258 10012 l0]..'12 01 2 101 1001 2 101 100 1005s I04 RAILROAD BONDS. 1900- Continued. BONDS I January FelJTuary March Aprtl May June July Augus · September October November December Low High Low Ht,gh Low Ht,gh Low Ht,gh Low Ht,gh Low H i{Jh Low High Low High Low High Low High Low High Low High -------.------,------- ---- ---- ----N Y Cent & R RR-(Concl,) NYC Lines-Equip 1910-5 Equipt Trust 1913--- --- 5 Equip Trust 1914-- ---- - 5 Equipt Trust 1916- ----- 5 N V New Haven & HartfordCon v deb1948 ___________ 6 Registered ------------ 6 Subscription receipts- --Conv deben1953 ______ _3 ½ Non-con v deben 1956- ___ -4 - - - - --- - ---- ---- - - - - ---- ---- ---- ------- ---- ---- ---- 1017a 1011s ---- ---- ------- 103 1s 1033s - --- ---- ---- ---- ---- ---- ---- ---- ---- ---- 1043a 1043s ---- ____ ____ ____ ____ ____ ___ _ 13412 13512 1337s 1351s 13334 135 1347s 13512 13514 13834 138 1387s 1381s 139 13814 13834 1385s 146 14114 14538 13412 1421 2 133 ---- - --- ---- ---- ---- - - -- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- 1401214012 1413414134 ___________ _ 13512 ---- ---- 133 134 ---- ---- 1351413712 ________ 13712 13814 10014 9734 99 9712 993s 993s 108 10714 10934 1083s 10934 107 1087s __ - - . - - 94 34 96 - - - - --- - --- - --- --- - - --Non-con" deben 1955 ____ -4 --- ---- ---- ---- - --- -- -Non-conv deben 1954--- 3 ½ ------- - --- ----- ---- ---- 85 85 ---- ---- -- -- ---Convertible deben 1954-3 ½ - -- -- -- ---- ---- -------1091210\ll2 -- -- 134 98 Ni~n, .ri~r~W;t-g====~ -93i4 9912 98 7234 7434 97 7a 97 7s 121 121 --- · -·--·-· ------- •••• ---- ··--·- · ···-··- ··--··· •••• •••••••• -·-· •••• 10912110 10912110 1103sl1012l10l2 112 -9-91~ -9si2 -99- -98- Registered ---·-----·--3 ________ 74 74 ________ 96 96 121 121 12012121 ____ ·--- 1201s 1201s ---· --- - 104 104 ____ ---- 99 99 9212 921 1153411534 1153411534 ~acificCoastColstg ______ 510912llO 110 llO 13514 ___ _ ___________________________________ _ 10634 10812 107 11114 10334 110 -9814 105 981 4 1021z 9612 9612 957s 965s 95 957g 955s 955g 9512 9512. ---- ---- ---- ---- 97 97 ---- ---- ---____ . _______ _ ___________ _ 1 98_12 -9-91; -987g -99-3~ -977g -991~ -98- 987s 963s 9812 97 97121_-96l2 9712 ---- 104 104 --- ---- 101 101 ---• ___ 127 127 __•• _ _ _ _ ___ _ _ ___ 12614 1251 4 125 12614 ___ _ ---- - --- ---- ---- ---- ---- ---- --- - ---- 125 12534 -- ----- ---- 127 12s12 --- - ---- --- - ---- ---- ____________________ ___ _ 98 99 98 9914 9912 100 99 10012 9812 9934 99 9912 981 2 991 2 98 9858 ---97 97 ---- ---- ---- ---- ---- ---- ---- ---- -- - 9312 94 9338 9318 931 8 9358 931s 9358 931 4 931 2 91 931 2 9234 931 8 9234 92,8 98 99 9734 99 9812 101 101 10334 10114 10234 1001 8 102a4 9!} 1011 4 991 4 102,8 90 92 925g 9214 92~11 9134 9212 9112 92 91 91 90 91 8934 901 4 89 ---- ---- --- - ---- ---- --- - ---- -- -- ---- ---- ---- ---- ---- ---- 1061210612 963.t 98 97 97 9614 98 9614 97 9614 967g 9614 9634 95 951s 95 9512 1025s 1027g 10214103 1025s 103 10212 10314 1021g 103 10112 103 1011210218 102 1031 2 102 10234 1021a 10214 10112103 ___ _____ 1001210012 10114 1011 4 10_2 102 10112102 7412 75 7414 75 7334 75 7334 75 7414 7434 7234 743g 7134 73 725s 7414 ---- ---- 7334 7334 73 73 ---- -· -- ________ 72 7212 70 71 ___ _ 97 9712 9712 9712 ---- ---- ---- ---- 9614 9614 9712 9712 955s 955s 96 96 120 1205s --·· ·--- ---- ____ 1201212012 120 120 ____ ____ 1177g 11812 118 118 115 115 ---· ··-- ---- ---- -- -- ---- ---- ---- 119 119 ________ ---1043s 10434 -··· ··-- ---- ---- 10412104 12104 12104 12 ---- - -- - ---- ---- -- --·-· ·--- ---· •••• 975s 975s 98 98 99 99 98 98 ________ ---- ---- 99 Norfolk & Southern lsL-- -- 5 ____ ---- ---- ---- ---- ---- ---Norfolk & West-gen 1931- _6 1211 2 12112 12734 128 12712 12112 __ __ lmpt & exten 1934 g _____ 6 ____ ___ _ ---- ---- 129 129 ---New River 1st 1932 gold--6 ____ ----1281212812 ---- ---- ---- ---N & W RY 1st cons 1996- -4 98 991 2 9834 9914 9812 99 9812 99 Registered ____________ 4 ---- ---- ---- -- -- ---- -- - - ---- ---Divisional 1st lien ______ 4 931 2 95 935s 9438 93 9334 935s 937g 10-25-yr conv 1932-----4 9318 9718 95 9812 957s 975s 9712 9914 Pocahon c & c joint ___ -4 8958 911 4 9114 9234 9134 927g 9114 923s Col Conn & Term 1st g gu_5 -- -- --- - ---- --- - ---- ---- ---- ---Scioto y & N E 1st gu g _-4 951 2 981 2 9734 98 97 97 98 98 Northern Pac prior lien '97 g-4 102s8 10338 10314 104 102341035g 102341031s Registered ____________ 4 101 103 10212103 1013410212102 10212 Oeneral lien 2047 gold----3 73 75 745s 75 7412 75 7412 75 St Paul-Dul Div g 1996 ... 4 St p & No Pac gen gold---6 Registered -·--·-------6 St P & Duluth 2d 1917 ___ 5 1st consol 1968 gold----4 Wash Cent 1st 1948 g ___ -4 North Pac Term 1st 1933 g __ 6 ' ____________ 10038 1ooa8 ____ ________ 10158 101'>& _ _________ _____ _ ____ 102341031s ___ _ igi gi 21---- ---- 11534116 ---- ----12 -·-· ··-- ---· ---- ---· ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ------- ---- ---- ---- --- - ---- 115 1155g --- - ---- ---- ---- 1103.111034 1111411114 113 113 110 111 110 110 108121081210812109 110 11012---- ---- Peoosyl vania RR- 105 105 -·-- •••• 103 103 10314103 12 1031210414 --·· ··- - 103 103 --·· ·-·- 104 104 1031210412 104 104 104 104 1091210912 ---· •••• ---· ---- ---- ---- ---- ____ --·· ·--- ___________ _____ ________ ___________ ____________ _ ___ _ ---- -- -- ---- 104 1041s -- - - ----1021210212 ________ __ ______________ 101 101 ________ 103 103 _______ _ 1041s 10434 1041s 10434 10413 1045s 1043g 10514 1043410514 10414 10512 10414 10458 10378 105 10314 10414 10312 1041 2 1041 8 10434 1041 8 1041 2 98 993g 9712 9834 9734 987s 9834100 100 101ss 1003s 10134 1005g 10134 10134 10314 102 1051 4 1021 8 1051 2 99 1045g 9938 1015g. 10-yr conv 1915 gold---3 ½ 9434 957s 9512 957g 953s 9614 96 9713 97 9734 965s 977g 965s 9712 971s 9914 9734 9912 9634 991 4 951 8 931 8 9534 9612 Registered --- ---- ---3 ½ 9534 9534 9514 9514 ---- ---- -·-- •--- -·- · -- - - - --· ---- -- -· ·--- ---- ·--- ---- ---- ________ 95 9612 9S.5s 06 Phila Bait & W 1st g ____ -4 ---- ---- ---- ----1031210312 -··· -·-- ---· ---- 104 104 -- -- ·--- ________ _______ ____ _____ ________ 1031g 10313 UN J RR & C 1944---·---4 ---· ---- ---- ---- 104 104 ---· ---- --- - ---- -- -· ·--- 1061210612 - --· ______ ______ __________ ____ __ 10334 10334 Penosyl Co-gu 1st g ••• .4 ½ 104 104 106 106 1051210617 105 10534 1051210534 105 105 ---· ···- 104 10534 105 105 10414 105 10434 107 10414 1051 4 Registered __ •• ·---·-4½ ---- ---- ---· ---- ---- ··-- -··· ----1041210412 ---· ·--- ---- ---- •••• ---- ---· ·--- ________ 102 105 103 103 Ciu coll tr ctfs B 1941 ••• :J½ ---· ---- ---- ---- 9014 9014 ---· --- - ---· ·--- 9034 9114 9034 91 ---- -- -- --- - ---- _____ _______ ____ 8914 90 Tr Co ctfs gu 1916 g_. __ 3 ½ ---- ·--- 9614 97 9634 9712 97 14 97 14 ---· ·--- 9713 971g 9714 9714 9712 9734 98 98 9734 98 9734 98 _______ _ 90 -- -- ---- ______ ____ ______ ---- ---Ciu coll tr ctfs C 1942---S ½ ---· •--- 8914 89 14 ---- -·-- ---· •--- ---· ·--- ---· ·--- --·· ---- 90 Ou coll tr ctfs D 1944---3½ .... ·--- ---- ---- 9012 9012 ---· ---- 9034 9034 - --· ·--- ---· ---- ---- -- -- ---- ---- __ ______________ 9012 91 15D25-yr guar g 1931-----4 ---- .... 9858 985s 9834 99 99 9912 9812 995g ---· ____ 9812 99 9812 9812 9812 9812 9812100 9834 9834 98 98 Cin Leb & Nor gu g_ ... _-4 ---- ---- -·-· ·--- 101 101 ---· ·--- --·- •••• ___ _ Clev & Pitts A 1942 ... -4½ 1103411034 ---·-- - ____ ____ ___ _ _ ______________ _ Series B 1942 --------4 ½ ------- 10934 10934 ____ _ ___ ___________ _ Series C 1948 ________ 3 ½ - - - - - - - - - - - •• - - 96 96 ___ • _ _ _ _ _ _ _ _ _ __ _ ___ _ Grand Rap& Iodext'41.4 ½ ---- ---- - ------ 1041310412 ___ _ P Ft W & Chic 1st 1912- -- 7 ---- ---- ---· ---- ---· ---- 107 107 ________ 1065s 1065& 2d 1912 _______ __ ____ __ 7 1091s 1091g ---· •••• ---•••• 110 110 ---· _____ _______ 10634 10634 ___ _ P Youngs & Ash 1st cons-5 ---- ---- 110 110 ----·-- ---· ---- ____ _ _________ _____________ _ PC C & St L gu A 1942-4 ½ ---- ---- --- ~ ••.. ---- ----1091210912 ---· ---- ________ 1077s 1077s ____ _ ____ _____ __ ________ 108 108 Series B guar 1942- .. -4½ ________ ---- .... 109 109 109 109 109 109 108141083& 108 1081a ________ --- · ____ 10778 10118 10118 10118 ___ _ Series D guar 1945 .. ___ 4 1001s 1001g 102 102 ---· ·--- 100 100 _____________ ______ _____ ---Series E guar 1949----3½ ---- ---- 94 95 ---· ··-- 9412 9412 ---· ·--- ___ _ ·--- ---- ---- 9512 98 96 96 9334 9334 ---Series Ci con guar 1957 - -4 - - - ---- ---- ---- ---- - .. - . . . . .. - 9934 9934 __ •• C St L & P 1st 1932 g _____ 5 ---· ·--- 1161211612 ________ 114 114 ---· -- -- ---· ____ 1121411214 Peoria&PekinUn-1st'21 g_ 6 ---· •••• 116 116 --·· ____ 110 112 lst real estate 1923 gold--4 Consol 1919 gold-······- - 5 Coosol 1943 gold ••••••• --4 Coos 1948 gold- •••••• __ -4 10-yr conv 1912 g _____ _3 ½ Pere MarquetteRefunding 1955 ______ ____ 4 Chic & West Mich 1921..-5 Flint & PM 1920 g_ .. ____ 5 1st coosol 1939 g __ .. ___ 5 Port Huron Div 1st g __ .. _5 Philippine Ry-1st s f ___ ._-4 Pitts Shenan & L Erie lst ___ 5 Reading-Oen 1997 gold._ -4 Registered ________ _____ 4 ---· ---- -- - - ---· ____ 78 ---- 105 106 105 106 105 10514 105 105 1121411414 ________ 11334115 1137311412 1137s 1137g ________________ 112 112 10434104341091210912 ---· ---- ---· ··-- 1091210912109121091210912109121011210112 ---- -- -- ---- ---- ---- ---- -·-· .... ---- ----1081210812 --- - ____ 107 10812 94 95 ---· ---- 9312 94 ---· ··-- 93 93 ________________ - --· ·-·---- ---- ---- ---- ---- ---- ---- ---- ---- ----11613116 14 116 116 __ __ ---9934 10012 9934 1005g 9934 10014 9934 100 9934 100 997s 101 100 101 997g 101 ---- ---- -- -- ---- ---· ---- 9812 99 100 100 ________________________ Jersey Cent coll 1951 gold-4 9612 9812 963& 97 97 97 9634 975s 97 977g 97 9734 9734 98 977s 98 Phil & Reading coos 1911-6 ---- ---- ---- ---- ---· ··-- ---· •••• ---- ----1023410234 ---- ·--- - --- ---- Consol 1911 ___________ 7 ---- ---- ---- ---- - --· ---St Jos &Or Isl-lstg _____ -4 9312 9412 92 95 95 95 ',t L & San F.ran 11:en 193111: -6 12212124 ---· __ __ 1241212412 General 1931gold-·····--51101211012 111 111 111 111 Oen 15-20-yr 1927--·-·--5 ____ ___ _ 89 895s 8812 8912 RR-Consol 1996 g ___ .. __ -4 91 91 94 9612 96 96 SW Div 1947 gold--.--5 ---- --- - 101 101 •••• ---Refunding 1951 gold-- -- 4 847g 89 86 8814 847a 8612 St LM & So E gu g _____ 4 ½ ---- ---- ---· ---- .••• ---KC Ft S & M cons 1928 g_6 1163g 1163g 119 12012 •••• ____ Refunding 1936 gold-_._ A 8234 86 8412 8534 83 8412 K~erieR:&Bdgig~-=J ___ _ ________ ==== iiii2 llll2 10612 10612 1061210612 105 105 ________________ 107 107 ---· ______ ______ 911s 9113 ________ 1151211512 115 115 9878 100 9812 9912 9834 100 987g 987g 9712 9734 9812 9812 9712 98 9614 965s 96 9634 ______ __ ________ ---- -- ----- ---- - --- ---- ---- ---- ---- ---- ---- ____ ___ _ ---- 103121031 2 ________ ---- ---9434 97 9573 96 ________ 957g 96 96 96 96 96 96 96 96 96 96 96 1235s 1235s 123341233412358 1243.1 12358 1235s 1235s 1235s 12358 1237s ___ _ _______ __ ___ 1211212112 110 11012 11034 Ill 1103411034 110 11014 11014 11012 110 11014 109 10912 1081 8 1081g 1081g 1085s 8834 9014 90 9134 88 9134 8978 9112 90 9112 8912 9014 8834 90 8834 90 8812 8914 9412 95 ---· •--- ________ --- · ____________ 92 92 92 92 911 4 9114 ---- ------· ··-- ---- ---- ---- ____ ---· ---- 1001210012 ____ ---- ___ _ 8512 8814 8714 88 8514 8714 86 8714 8534 87 8514 8614 84 8512 835g 85 845s 86 9934 9934 ---- ____ - --· ____________ ---· _______________________________ ____ _ 1191211912 ________________________________ 1191211912 ___ __ ___ 119 119 1111211812 8312 8434 8412 8512 837s 85 83 84 8312 84 83 8334 8214 83 82 823s 82 83 == == :::: ==== :::: :::: :::: ==== :::: ==== :::: ==== :::: :::: :::: :::: :::~ :::: :::: :::: :::: :::: ==== 1g6!! l~~! 9614 97 93 9312 84 84 7812 803a 87 881a ---- - --84 8414 993s 9912 ---- ---____ 911s 911s ____ ---- --- ____ 104 104 105 105 ____________ ---- ---9212 9312 9134 9314 90 9212 90 915s 903s 9214 9334 9334 ________________________ ---997g 997s 9912 9912 _997s 997s 995s 995s ___ _ 10213107 101341045s 101121045g 1015s 1027s 102 10512 .... ---· ·--- ________ 1021410214 ---- ------· ---- ---- ---- - --- ---- ____ --- - ---- - -- 97 975s 9713 97°s 9612 9712 9612 9714 9614 971s ____ •••• 963s 9634 ---.- ---- ________ --- - --- ____ •••• 8914 8934 8834 8914 8834 89 8812 90 ---· ··-- 93 93 94 94 9012 9212 9134 9214 •••• ________ ---· ---· ____________ --·· Oita Va & N tt ... .. 5 •• .• -·-- ---· ____ 104 104 •••• ··-- ______ ______ ____ ---- ____ ---· ·--- 104341043 ---Hous E &: W Tex lat -5 -- -- ---- ---- ---- ---- -- -- ---- ---- 103 10514 ---- ---- ---- ---- ---1st gu 1933 g ...• ~•-·,5 . ... ---- ---- ---- ---- .---- 1031210312 -------104731047g ----- -- 105 105 Hous&TexCeolstl!I'!~ · ~ ____ . ___ 10934 10934 110 110 110 110 --·· ____ 110 11014110 llOl41095gll014 ____ •••• 110 110 ____ ---- 110 110 Consol 1912 gold------- -"--96 96 ---- ---- 95 is----- ---- -95- -95- -93- -93- 1gr21g~;2. -93- o,:; General 1921 srold------4 -~~ ---- ---- -- -- ---- ---:..::..::..:_.:..:.:_:__ ______ . _ ·- --- - - - : Ozark & CC 1st gu _____ _5 ________ ---· ____ 973g 973s 973g 973s 9734 977g 9712 98 ---· St Louis Southwest-1stg .-4 9212 9312 93 9412 9312 9412 9334 943s 94 9412 9312 943g 94 95 2d inc bond ctfs gold-·-·-4 79 8112 8112 82 ________ 80 82 82 84 84 85 84 84 Consol 1932 gold- _______ -4 781g 801g 7812 7934 78 7914 7814 7912 7914 8114 79 81 791g 7912 San Ant & Aran P-1st i:u g 4 89 9212 9114 925g 8934 91 8912 9014 8978 9014 8912 9014 893s 90 San Fran & N P-lst 1919- - 5 ---- ---- ---- ---- ---- ·--- - --- ---- ---- ---- ---- ---- ____ ---Seaboard Air Line-1950 g_ -4 64 66 6312 66 6434 6934 6812 75 7514 855s 85 885s 8734 91 Coll tr refund 1911 gold- .. 5 . ... ____________ 9512 9512 97 97 9912100 im2 9112 9914100 Atl-Birm 30ayear 1st g __ -4 ---- ---- - --- ---- ---- ---- ---· ---- ---- ·--- --·· ---Carolina Central 1949 ___ -4 ---- ·- -- --- - - --- ---- ---- --- --- - _______ _ ..•• Oa & Ala 1st cons 1945_._5 ---· ____ 1021410234 ____ ____ ____ ·---10012106i2 ---· Oa Car & No 1st gu g·--·-5 105 105 106 106 10512106 ____ _ ___________ ---· Seaboard & Roan 1st '26--5 ---- ---- 1063410634 ____ ---- ---· __ __ 1073410734 --- Pac Co-Ct Pac coll •~9 g 4 90 92 91 92 9134 92 91 92 91 92 92 93 93 9512 Registered -···-·······4 ---· -·-- 85 85 ____ ---- __________________ ____ __ ---· ____ 2-5-yr coll trust 1910- ... -4 .... -·-- 997s 997g •••• ____ 997s 997g ________ 997s 997s ---· ____ 20-year coov 1929-·· -·-· -4 ........ ---· ........ ____ 973g 995s 991210034 100 1033s 103 1053s Registeted ------------4 ---· --·- ---· ••.. ---- .... ---· ···- ---- ---- _______ _ ---· Co1.,v (part paid) 1929~ ... 4 ---- ____ ---· ..•. ____ .... 975s 9958 991210034 997g 1033g 103 1051g n c 1st ref gu g.- ••. .4 973s 9878 977s 981 2 9738 98 9714 977s 9714 9734 9634 9738 971s 975s ~eg(s ered ······--··-·4 ________ ---· ---· 9734 9734 •••• __________ __________ 96 96 . ge g gold ..••.. 3½ 8912 9314 9014 91 903s 9012 90 9058 9014 903s 8914 903s 8913 8934 g••. L 1st itu g_.4 9314 9314 ________ 94 94 94 95 95 95 ---· ____ 943g 9412 Oal H o 1. t 1st 1910.6 .... ____ 10118 10118 ________ 10114 10114 ---· ···- ____ Mex & p iv. t g •••• 5 .•. . ____ 110 no 111 112 ---· ____ ---· ____________ - 7812 ---· -- -· ____ -··· •••• -··· •••• •••• ···____ •••• 9912 100 985g 9912 9634 98 1021410214 -·- - https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ~ 98 9414 84 7812 893g 9S 95 84 7912 901g 9112 9712 9412 9434 ________ 1112 7814 8812 8934 97 9712 9712 9712 92 9434 915g 925s 831 8 8434 84 8412 111 4 78 7712 7814 88 887g 87 88•2 __ __ ---- ________ 104 104 ________ 89 9014 8914 90 91 91 83 88 99 1007s 99121001s 995s 9934 9834 9912 85 85 86 86 ________ 84 84 • 105 RAILROAD AND MISCELLANEOUS BONDS. J anuar y F ebr uary M arch A pr U May J une Low H L;Jh Low · HL(lh L ow H L!}h Low H tgh Low H t(Jh Low BON.OS J uly AU{lust J-1 1,(Jh L ow H igh Low H tuh September October November D ecember H tgh Low H igh Low H igh Low H i(Jh / ,QJ1J -------------------------------- -- -------- ---------------- ---- Southern Pac Co-(Concluded) Austin & NW 1st gu g ___ _ 51O712 1O112 __ ____ ____ __ __ ___ _ ---- ---- ---Oregon & Cal 1st gu g ____ 5 ___ _ ____ --- - ___ _ 104 104 ____ ____ __ __ - ·-- ---- -- -So Pac Ariz gu 1st g ______ 6 10014 10014 100 100 ____ ___ _ ___ _ ____ __ __ ---- ---- ---1st gold 1910 __________ 6 10112 10112 ____ ____ ____ ____ ___ _ ____ ___ _ - - --100 1-1100 14 So Pac Coast 1st gu __ ___ -4 ____ ---- _______ _______ __ 8812 91 91 9112 ________ 90 90 --- ---- ---- ---Tex & N 0-Sabine DiV- -- 6 _______________ _ _________________ _______ 1021210212 --- --- - 103 103 102 102 ---- ---Sou P:1c RR 1st ref 19559434 96 9434 9534 9434 961 8 94¾ 95 9434 951 4 9412 951 4 9434 96 945/l 951 2 9412 95 937s 943-1 9414 947s 9412 947s Registered ____ ________ .,. ____ ____ ---- ________________ ---- -- -- ____ 94 94 --- - -- - - ---- ---- - --- --- - --- - -- -- --- - -- -- --- - ---Southern-1st 1994 gold--- - 5 106 1121 4 11108 113 11 1 112 11 1 112,8 112 113 1111211212 111 113Js u214 113 11014 112 108 11012 107 109 12 109 112 Registered _____________ ,, ___ ___ __ ___ _ _________ ___ 109 10912 110 11012 ________ --- - -- -- 110 11 0 ---- --- - ---- - - -- --- - - --- ---- ---· Develop & gen Ser A-----4 76 79 781 4 791?. 731 4 7958 781 2 821 2 8214 831 4 827s 8312 8234 85 8114 8312 80 8234 7914 8 13g 797s 811s 803s 82 Mobile & Ohio coll tr g _ __ _ 4 8512 87 86l2 89 8812 8912 8 8912 90 9012 8812 8912 8914 8912 90 9012 8912 9012 897g 9012 89 90 89 90 Memphis Di v 1st g _-4 ½-5 _________ ___ ____ ____ ____ 113 113 ___ _ ___ _________ ---- ---- ________ 1101211012 -- -- -- -- - - - - ---- 110 U O St Louis Div 1st 20!(! _ __ __ .,_ 875s 8934 8912 91 8912 8934 8912 90 _______ _ 9014 91 8812 8 12 8812 8914 ---- ---- --- - - --- 86 86 6 7 Atlan & Danv 1st '48 g __-4 ______ _____ _ ________ _____ ______ __ ______ _____________ __ __ 9212 9212 9212 9212 9212 9212 - -- Colum & Greenville lst.- - 6 ---- ---- --- - ____ ---- ---- ---- - --- --- - -- -- 109 11014 --- - -- -- ---- ---- ---- ---- ---- - --- ---- -- -- ---- --- ET Va Ga div 1950 .. . _5 ________ ---- ____ 10934 l OUa4 ___ _ ____ ---- ____ lll 111 ---- ---- ---· ---- ---- ____ ll03g l1 03g lll14llll4 llO3sll234 Cons 1st 1956 gold-- -- - _5 1125g 1125g 11 2 112 113 11314 11012 11012 1133g 11334 11 l lg 1141g 1141g 11412 11412 11412 ll4lg 11414 1141g 1143g 11312 11414 112 113 E Tenn reorg lien gold--- - 5 ________ 105 105 ________ 107 107 - - - - __ __ ------- ---- ---- - --Oa Midland 1st 1946 ____ __ 3 ________ 661 4 661 4 64 64 64 653-1 ____ ____ ________ ---- ---- 68 68 - - - - ---- 64 64 65 65 ---- ---Oa Pa 1st 1922 g ________ 6 11434116 1151 2 1151 2 ____ __ __ 117 117 ________________ ---- ____ ll63411634 ___ _ ---- 115 115 113 113 113 113 Knoxv & Oh 1st 1925 g ___ 6 ____ ---- ---- _______ _ ---- ---- ---- 11814 l l 14 ________ ---- ---- ---- --- - -- -- ---- ---- - --- ---- ---- ---- ---Rich & Danv cons gold- -- 6 1081410814 1081210912 ________ 110 111 ---- ____ llOls 11014 ---- - --- ________ -- -- ---- ---- ---- 1O7 1s 1O71s --- - ---Deben 1927 stamped ___ 5 ____ ____ ____ ____ ---- ____ ____ ____________________ 107 107 ____ ---- 1061210 Sou Car & Ga 1st g __ ____ _5 10112103 103 103 __ __ 10314 10314 ____ _ ___ 1O33s 1O33g 103 103¾ 1O31g 1O31g 1O25s 1O25s 1023-1103 Va Mid Series 8 1916 ... .. 6 1021410214 ________ 1O2~s 1O25s ________ --- - ____ ____ ---- ___ _ ____ ---- ---- 1021410214 - - -- --- - - --- ---Series E 1926 ____ ____ __ 5 ---- ---- ---- ____ --- - ____ ---- ---- - - -- - --- --- - ____ 109 109 ___ _ ____ ____ - --- ---- ---Series F 1931-- - ------ - 5 107 107 _______________ _ ________ 1081210812 ________ --- - ____________ __ __ ____ ---- --- - - -- - -- -- 1O71~ 10734 Oen 1936 __ __________ _5 107 107 ________ 10 121os12 ____ _ ___ 1101211012 ___ _ ___ _ 109 109 ___ _ --- - 1O71x 108 Guar stamped _______ _5 ________ 1071410714 10 1210912 _________ ___ ___________ _ ---- __ __ ____ ____ ___ _ --- - 107 107 West No Caro 1914 g ___ __ 6 ____ ____ 10914 10914 ____ ___ _ ________ 109 109 10814 10814 ________ 107 107 ___ _ Spokane lnterna t- 1st'55 g_5 ------- ---- ---- - -- - ---- - - - - ---- ---- - - -- - - - -- -- 10634107 --- - ---- ---- ---- -- - - - --Terml Assn St Louis-lst- 4 ½ ________________ 109 109 ______ ______ 1071210712 ____ ____ 108 108 108 108 ---- ---- 1067s 1067g - - - - - --1stcons 1944 gold ___ ___ __ 5 ________ 116 116 ___ __ ___ 115 115 115121151211512117 116 116 116 116 1167gl167s 1161sl161g _______________ _ Oen refund 1953 gold-----' 96 96 ________ 97 9734 97 9712 971 2 975g 9712 971 2 971s 98 96 98 ________ 9712 98 97 9712 9712 9712: St L /\\ercb B & Term ____ _5 ___________ _ _______ _ ____________ 11014110141101411014 ______________ ___ _______ --- - ---- ____ - --- 109 109 Texas & Paci fic-1st g ___ __5 117 11814 118 11s12 118 118 1157s 117 11512119 11312 11612 113 11412 112a4 11234 112 11234 112 113 112 113 111 112 2d income 2000 gold ______ 5 68 75 ____ __ __ 70 70 ____ ____ 70 75 65 65 ---- ____ 80 85 ____________ ---- 83 83 La Div 8 L 1st 1931g____ 5 105 105 ____ ____ ___ _ __ __ ___ _ ____ ___ _ ____ ____ ____ ____ _ ___ 103 103 ___________ _ _______ _ ___ _ Toledo & Ohio Cent- 1s t g __ 5 1113811214 ____ ________ __ __ 111 111 112 11212 1121s 11212 111 111 ___ _ ____ 111 111 111 111 1101 2 111 Wes tern Div 1st gofd ___ __ 5 ___________ _ __ _____ ___ __________________ 112 112 -·- __ __ 112 112 _____ ______ _ __ __ __ _____ _ General 1935 gold--- ---- - 5 ______________ ______ ____ 105 105 1031210312 ________ ---____ 1041210412 ________________ 101 101 Kan & Mich gu gold- --- - -' 9234 94 943g 95 ____ ____ 9412 9412 ____ ___ _ ________ 93 9312 93 93 93 93 9112 93 9112 9112 Toi Peoria & West-1st g __ -4 8614 8614 88 88 9212 94 92 92 ________ 92 92 91 91 9012 9012 9412 9434 93 931 8 921 4 94 92a8 9258 Toi St L & W- Prior lien--3 H 91 911s 91 91 90 913s ________ 903s 9034 911s 911s 8912 9O1,c; 9O1s 911s 9O7g 9078 9O3s 901 2 8938 8978 89 893g 50-year 1950 gold --- --- -- 4 831g 881 853 863g 84 86 841g 8512 84 847s 8312 847s 8312 84 8234 8312 80 8234 80 82 797s 8ll2j 791s 81 Toronto Ham & Buff l st- -- - 4 ________2 ----4 ____________ 9134 9134 -- -- _______ _ ____ -- - - -- -- _____ _____ __ ___ _ ___ ___ ___ ______________ _ -1 u1t:tr~u1?::it;l 1\~ n :_:::: : ~~~ ~~~~ ~~~ ~~~~ ~~~~ ~~~~ ==== : ::: :::: :::: ~~~- .~ __ ~~~- -~~-89-86- ==== ==== ~~~~ _~ ~~ Union Pac-:-RR & I g 1947 _ -4 102 1O31s 103 104 10212 1035s 10234 103 1021210312 10234 1O41s 10312 10434 103 104 10214 1O31g 10214 10314 1O17g 103 1011.110234 Regi s tere d -- --- ---- -----' 1003410212 103 103 102 10212 102 102 ________ 1021210234 ---- - --- - - - - ____ 1011210112 101 10112 102 102 ___ ___ __ 1st & refun din g 2008--- - -4 9634 9878 9858 99 9812 99 9878 9934 9912 997s 9914100 991s 9934 9814 9934 98 99 97 983s 97 973.t 9712 9 is 20-yr conv 1927- ____ __ ___ 4 10312 106 102 10534 10234 1O63s 106 10812 1067s 10834 10712 1115g 11012 1145s 1113g 12414 11034 120 11234 1195g 1133g 11614 114 11634 Reg istered ____________ 4 __ __ ___ _ ____________ _______ _ ____________ ---- _______ ___ __ 118 118 ___________ _ ____ 114 114 ___ _ ____ Oregon RR & Nav con g __ .4 9834 9912 9914 9934 9834 987s 983s 99 985s 9912 98 99¾ 9814 991s 983s 9834 9812 993s 9812 9914 9814 983.i 97 9 14 Oregon Sh Line 1st g _ __ __ s 12O1s 12012 119 11914 11812119 11812119 1181211914 11 91s 11918 1191s 119121183411914 1183411834 11 7g 119 1171411714 117 11712 1st cons 1946 gold- ____ _5 115 11112 117 118 11612 117 11612 11612 116 11614 116 1151 8 114 11512 114 114 11312 1143g 11314 114 113 113 1125s 11314 Ouar ref 1929 gold ..... -4 94 9514 9412 9534 9412 95 9434 9614 95 9584 9414 953s 945s 951s 94 95 94 9434 9234 941? 9234 943g 9312 9434 Registered ___ _____ _ -4 94 94 ____ _ ___ ---- ____ -- - - ---- -- -- -- - - -- - ___ : -- -- -- -- 9334 9334 Utah & North 1926 gold- -- 5 ____ ____ 10012 10012 993s 993s 993s 993s ____ _____________ ___ ____ 1011111071s Vandalia-Cons 1957 B---- 4 - - -- -- - --- - -- - - ---- --- - - --- - --- ________________ 9812 9812 99 99 Vera Cruz & Pac- 1st gu - 4 ½ ________ - - -- -- - - - -- __ _______ ________ ___ 96 96 96 96 ___ ___ __ ___ __ ___ Va& Southwes t-1 st2003 -- 5 1171211712 _____ ______ _ ____________ __ ______________ 110 110 ___ __ ___ 110 110 110 110 ____ ______ _____ _ 1st cons 50- yr 1958 ___ ____5 9812 9812 9814 9834 9 14 99 99 995s 9912 9912 9914100 987s 99¾ 98 99 ____ ____ 9712 9812 9812 99 98 9 Wabash- 1st 1939 gold---- 5 11214 114 11 23411412 112 113 1117s 113 11214 113 11214113 11214113 113 11312 113 11312 1121411314 1113411214 1111211212 2d 1939 gold - ________ ___ 5 10212 10334 10312 105 10434 105 10412 105 10314 104 10314 105 104 10412 103 10412 10234 10312 10112 10234 101 102 10112 10312 Deb income 1939 "A"-- -- 6 1OO1s 10O1g _____ _____________ __ ____ _____ _____ _______________ ___ Deb 1939 "8 " income ____ 6 86 90 __ ____ __ 86 86 ________ 9O1g 92 100 1001210012 101 ___ _ _______ _ _____________ _____ __ 100 100 1st lien equip 1921 g _____ _5 __ __ - -- - __ __ ____ ___ _ ____ 10212 10212 1021210212 ___ _ __________ _____ _ _______________ __ ____ ___ _____ __ _ 1st lien terml 1954 g _____ -4 ____ - - -- - --- _______ __ ____ ___ ____ 87 8712 __________________________________ _______ ____ ______ _ 1st & refund 1956 g _____ -4 7134 78bg 7214 777s 72 75 7234 755g 747s 785s 7714 SOis 7534 777s 7458 78-';g 7234 761 8 721 4 751? 731 4 761? 75 7 3g Det & Chic Ext 1941g ____ 5108 11 114 10914 lll 10914 1091410912 10934 10934 11012 1O95s 11014 11014 11014 llOl4 l iOl4 _____________ __: ____ ___: ___ _ Des Moines Div 1939 g __ -- - ---- - --· - --- 865s 865s 90 9112 --- - - --- - --- - --- ___ _ 83 83 Omaha Div 1941 gold- --3_ -4 ½ ____ _____ _______ 4 Toi & Chic Div 1st g _ __ _ 3 ½ Wab-Pitts Term-1s t g _ __ -4 Trust Co ctfs deposit---- -2d gold 1954 __ ___ ___ _ __ -4 Trust Co ctfs deposit- _ ___ Washington Term gU- ---3 ½ Wes t Maryland- 1st g ___ __ 4 Oen & con v 1952 g _ ___ _ _ _4 Trust Co c tfs deposit __ ____ W e s t Va Cent&P- lst ' 1L 6 West NY & Pa-1s t 1937 g_ 5 General 1943 gold ------- -' Wheel & L E-lst 1926 g ___ 5 1st cons 1949 gofd __ _ ___ -4 Wisconsin Central- 1st gen-4 Sup & Dul div & terml l s t-4 4 2 ==:: :::: 80 80 ____ __ __ 90 90 51 55 48 5514 48 50 4914 4914 51 5534 4534 5512 48 51 4912 5014 11 1412 93g 1112 8 9 812 · 812 11 1414 9 117s 8 97s 75g 9 _____ ___ 9314 9334 _____ ____ _____ __ 823g 85 8212 86 83 8434 8314 84 61 6512 65 · 7212 65 65 66 68 62 6512 64 72 ____ ____ 6612 67 - --- --- - ---- ---- --- - ---- ____ 116 116 117 117 11634 11634 __ __ ___ _ ___ _ ________ 941s 953s 85 93 107 107 109 109 ---- ____ ____ 8334 86 87 90 8734 8812 87 8712 8912 947s 9234 947s 94 95 9434 96 ______ __ ____ _____ ___ ____ 9314 9412 --- - ___ _ --- - - --- --- · 7914 911s 50 4812 812 8 ____ 837s 68 67 7914 7912 80 9112 - --- ____ 52 4914 52 5112 477s 5O1s 1112 9 912 1112 9 934 ___ _ 9212 9212 87 8334 8614 7312 70 70 73 ______ __ -- - - --- - -- -•••• 110 110 ________ ________ _ ___ ---- ____ 87 8812 8712 8812 95 96 95 96 941s 945g 9314 9412 1 1 1 ·so· 21 6 -sa· 78 78 ____ ____ ____ ____ ____ 7612 7612 -- -- -- - - ____ ____ ____ ____ ____ 88 88 8712 8712 47 48 4612 477g 44 45 43 45 45 48 4812 5534 4134 4812 4434 48 4312 46 42 4612 43 50 4714 56 7 734 73s 812 8 814 812 812 8 912 9 1212 714 812 712 912 814 9 8 914 8 10 812 1:t7s ___________ __ __________ _ _____ ___ __________ __ ___ _ 8514 87 85 8634 841 2 86 831 2 845s 8314 845s 8334 86 69 6914 69 70 _____________ ___ 67 67 70 70 6812 69 6834 70 68 6834 ________ 6 69 67 74 102 102 ___ __ ____ __________ _ __ __ 1001210012 ___ _ 11112 112 113 11314 112 112 1121s 11212 111 111 110 112 8834 8834 92 il2 91 91 91 91 ___________ _ ---- ______ __ ____ 1071410714 ___ __ ___________ 105 10514 8714 8734 8712 8712 8612 87 ____ . ____ 83 8512 86 .8 951s 9534 9514 96 951g 96 9412 9512 9334 95 935s 9412 9234 9314 931s 941 2 93 9378 9234 9312 92 93 92 93 'STREET RAILWAY Brooklyn Rap Tr-1945 g ___ 5 1st refund conv 2002 g_. _4 Registered ------- ---- - 4 Brooklyn City 1st cons---5 B Queens Co & Sub gu g __ 5 Brooklyn-Un El 1st g .. -4-6 Stamped guar---- ----4-5 Kings Co El 1st gold .•... { Stamped guar ________ -4 Nassau Elec gu gold------4 Conn RY & Ltg-lst g_ .• 4 ½ 10212 105 10334 105 10414105 105 10612 10534 108 106 1073g 106 107 8112 85ts 8112 847s 8314 847s 8412 87 861 883 8612 8912 8514 87 ___ _ ____ 10412105 105 851 877s 857 8812 85 1065s 10412 105 885s 833 87 10412105 8534 Is 103 · 1011 103 102 4 2 8 - - -- - - -- ---- ---- _________ _____ __ ______ __4 ______ ________ __ ________ ___ _____ ______ __ 84124 412 __ __ ____ __ ____ __ 105 105 10212 10212 __ ______ 1031s 1031 ____ __ __ 10314 10358 ______ __ _____ __ _ •••• ____ 103 10312 103 103 ___ _ _______ __ ___ 9912 9912 ___ __ ___ ___ _ ___ 4_ _____ ____________ ___ ____ ____ __ _____ _ _____ _____ __ __ __ ___ _ 10034 102 102 103 10112 10212 102 85 87 7812 80 86 80 87 82 86 8714 87 805s 82 81 10312 103 106 103 1043 1031 1041 103 1037 103 1037 102 10312 _________ ____ ___ ___ __ ___ 10212 10212 103 103 103 103 4 104 4 104148 104 104 8 ______ __8 10212 103 1O23~2 1023410212 103 __ __ __ __ 86 86 ____ __ 87 87 87 871s ________ 8712 8712 ______ __ ______ __ ___ ___ __ 86 86 8412 86 8734 8712 8778 8712 88 8712 8712 87 8734 8612 885s 86 8612 867s 867s 8412 6 82 817s 84 82 83 82 8234 ____ ___ _ 81 82· 80 8114 7912 80 7934 112 _ ____ __ ____ _ 102 102 ________________________ 10212 1025s _______ _ Stamped guar-- - - - ----4 ½ 102 102 1O13g 1O13s 1O17s 102 ____________ ____ ___ __ ___ 10214 10214 _____ _____ _____ _ 10234 10234 ___ _ ____ 1013410134 Det United-1st cons '32 d ½ 8112 8112 8112 8412 85 85 84 84 ________ 8212 8212 82 82 ________ 8212 821 2 8312 8812 _________ ______ _ Orand Rapids-1st 1916 g __ 5 100 100 ____ ____ ___ _ _ ___________ ___ _ _______ ___ __ ________ ________ 100 100 __________ __ •••• Havana Electric-Cons g ___ 5 __ ______________ 89 89 89 89 90 90 92 92 92 92 89 92 9112 92 92 9214 91 92 94 94 ,, lnterboro-Met-Coll- - ---4 ½ 7614 815s 77 8O7s 76 79¾ 7734 8014 777s 803g 7712 8034 791s 813s 80 85 8112 835g 821s 847s 8214 837s 8234 8458 / Registered ----- - -- --- 4 ½ - - -- - --- ---- __________ __ ________ 78 78 ___________ _ - --- ___ _ ___ _ ____ ---- _______ __ ___ ---- ____ ---~ lnterboro R 'I: 3-yr conv 19116 10314 104 1O33g 104 1O31s 1O35g 1O23s 1O37s 1033s 10378 1031410414 104 10434 104 10412 10314 104 10234 10334 1021210314 103 03is -&5-year series A 1952- ---- 5 __ ___ ___ _________ ______ ___ __ _______ _ ____________________ 103 103 1021 1031s 102 103 1017s 10 10::!lz .o3 8 Jnternat Trac-Coll tr- ---- - 4 _______ ________ 7212 1212 7212 1212 1 21 7212 72 7214 717s 717s ___ _ ____ 70 70 _________ ___ _____ ...... 2 Manhattan Ry-Cons g _____ 4 98 99as 99 100 9912 9934 9912 100 9912 100 991s 10012 99 99¾ 9814 99 9834 9834 9734 9812 967s 98 !17 9 /; Stamped tax exempt-----4 99¾ 9934 99ag 1001s 9934 lOOis 100 10012 100 10034 100 10O5g 997s 1001s 9914 1003g 9912 99as 9912 Wlls 9934100 9!,3._4, I Metropolitan St-1997 g •••• 5 8514 88 841:i 8514 85 855s 855s 87 8634 87 8 134 84 82 82 ______ __ 8212 8212 78 79 79 71 ~ 0 Trust Co ctfs deposit------ 8512 88 8412 85 8314 86 8512 87 86 87 8112 86 8134 8212 81 83 8112 8112 79 7 7712 Olz 1 2 034 / Refunding 2002 gold-----4 63 635s 58 58 56 56 56 57 5714 571 4 __ ______ 4312 48 ___ _ __________ ______ __ __ _____ .,..______ -··-;/ Trust Co ctfs deposit ---- ---- - - - - ______ _______ ____ ___ ____ 56 57 55 57 47 48 4812 481 2 45 45 4 t2 50 4,8 ,... 54 _____ -- • 2 5 12 A~;-is_t_i::::5 ioi1; 104- ios" 104- ioi 1; 10212 ioi1~ 10212 ios ioi==== ==== === = :::: ioai21-04- 1 1gi141ir12 Col & 9th Av 1st gu g ___ _5 __ __ ___ _ 1021210212 100 1011 2 100 101 100 10012 100 100 ____ _,., ·__ _______ 807 807s Lex Av & Pav Fy 1st gu g _5 100 100 10212 10212 101 10112 __ ______ 100 100121001210012 ________ 100 100 ____ 94 94 ____ ____ , - _____ __ _ 1O23g 1O23g ___ _ ____ ____ I Bwasia:r.: https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis io3- ioa· ioa· i04i; toi' i 106 RAILROAD AND MISCELLANEOUS BONDS. 1909-Continoed. January F ebruary March I May APTil JuJ,y June August September October November December Low Htuh Low H t(Jh Low Ht(Jh Low Ht(Jh Low Htgh Low Htgh Low Htgh Low Htgh Low High Low High Low High Low High BONDS Metropolitan St-(Concl.) 3d Av 1st gu 2000 gold----4 Cent Tr Co ctfs __________ do do stamped 1st gold 1937 __ _____ New Ori Ry& LighL- --- -4 ½ St Paul City Cable-Cons--- 5 Tri-City RY&. Lt-1st ----- 5 Underground of London ___ •5 1938 ----------------·4½ Income 1948 ----------·6 United Rys St Louis-1st g-4 St L Transit imot 1924---5 United RRs San Fran _____ -4 :::5 --------- 71 71 69 7014 68 7112 1091 2 1151 2 70 69 67 110 70 6634 6812 70 7012 6314 69 110 109 109 6512 7014 7012 71 68 6734 6734 6412 1073 69 7133 68 llO llO 110 110 110 ------- 8313 ---- 7214 68 ---- ------- ------- ------- ---- ------ ------- -- -- ---- ---- ---- ---- -----98 98 ---- -----.. ---- ---- ---- -- ----- ----.. ---- ---- 98 98 -- -- ---------7312 81 g41 8 85 80 8012 78 80 8012 8314 83 85 8414 22 2712 27 8414 8412 85 72 2712 30 85 85 31 85 30 35 8412 86 ------- -- -- -- -- ---- ------7212 74 73 73 7434 7412 79 72 ---- ---- 70 70 ---- 6514 6912 6514 6612 6512 70 ---- ---- ---- ---- ---- ---- 721!! 6758 71 6734 6978 66 70 6512 6934 6514 6734 6512 6973 110 10912110 106 10712 10734 10812 --- - 10712109 8612 85 853.i 86111 86111 8512 8614 86 8612 87 87 10712 10753 - - --- -- - - - - -- ---- - - -- -- - -99 99 ---- - - -- --- --- ---- - - - - - --- ---- ---- ---- ---------------- --- - -- - ---- ---- ---8434 8312 8513 83 81 83 82 - - - 8434 84 3373 3612 3634 3712 3612 3714 35 36 3412 35111 855s 86 85 85 ---- - - - - 8414 8438 86 86 ---- --- - -- -- - - -- - - - - -- - - ---- - - - - - - -1- -- -76 793s 75 7612 75 77 75 76 75 s 767s ---- - -- 8012 8412 3112 3212 30 3112 30 34 · 831!! 8312 -82 82 86 86 85 85 74 12 753~ 7412 7512 7334 7412 -- GAS AND ELECTRIC. Bklyn Union Oas-lst-----5 10418 10514 103 106ts 10612107 10673 10714 10714 108 108 108 10712 10734 10753 1075g 10712 108 107 10758 10714 10712 1071410753 Conv deben 1909--------6 120 124 119 123 ---- ---- 6!s 70 Buffalo Gas-1st g ____ ___ _5 6012 63 60 63 62 6312 6912 70 7012 74 73 73 6712 69 6712 68 64 66 Detroit City Gas-1923 g ___ 5 1001210073 1011410114 1011210158 1013410214 1011210112 - - -101 101 101 10114 1011410112 101 101 ---- - - - ---Detroit Edison-1st coll tr--5 -- -9912 9912 ---100 100 ---- ----General Elect-Deben g __3 ½ 84 84 80 8212 81 82 81 8112 8233 825s 83 83 81 8314 83 83 83 83 10-yr deben 1917 gold ____ 5 13812140 136 13912 13812140 139 ,., 14112 14033145 145 150 147 155 150 15512 151 15512 149 155 14814 15112 147 149 Grand Rao Gas L-lst •15 __ 5 100 . 100 ---- ---- -- - -- - -- ---- -- - ---- - - - - ---- --- - -------------Hudson County Gas- lsL- _5 10334 1033,\ ---- --- - - - -------- 105 105 ---- - - ------- Kan City (Mo) Oas lsL ---- 5 ........ 100 100 -- -- --- - --- - -- -- ---- ---- --- - ---- -------------Kings Co Elec L &. Pow ___ 5 --- --- - --- ------- - -- - - -- - ---- 1041210412 ------Purchase money 1997 ____ 6 110 110 118 118 1171211712 Laclede Gas-1st 1919 g ___ _5 10234 10313 10313 1041 8 10414105 1041210412 104 105 104 104 10312 104 103 10312 103 10312 103 10312 io2a4 ioi- 10214 103 Refund &. ext 1st 1934 g __ 5 10012101 1001210114 1011310113 101 101 100 10034 100 100 100 100 101 101 10034 10034 10012 10012 Milwaukee Gas L-lst •27 __ 4 92 9213 92 92 92 92 9114 92 92 92 913s 91 91 9012 91 91 NY Gas El Lt Ht&. p ______ 5 101 101 1001210114 101 10112 101 10238 1021210312 10212 10314 103 104 10358 10478 103 10312 1021310312 101 10212 102 103 Purch money coll tr ~- ___ -4 8314 84 · 8312 85 85 857s 8512 86 8514 857g 8414 8534 8412 8673 86 8612 8518 86t 8 8312 8553 8234 84 83 8412 Ed El 1111st 1910 g _______ 5 100 10034 1001210073 10018 10018 1ooa8 10034 10012 10012 1001210012 100 10014 100 100 1st cons 1995 gold ____ __ 5 111 111 111 111 110 111 111 111 111 112 110 110 1101411014 110 110 -----NY&. Queens EL&. p ___ __ 5 97 97 9733 9733 9812 981 2 ---- - --- - --- ---- ---- ------NY&. Rich Gas-1st 1921--5 9712 9712 - --- - -- -- --- - ---- ---p eople's Oas L &. Coke12012 - - -1st cons 1943 gold -------6 119 120 1201412014 12014 121 --- - 12034121 12012 -- -- 11912 12014 120 120 - --- ---- 120 120 Refunding 1947 gold ____ _5 10238 10314 103 10314 1031210334 --- 10334 10334 1031210312 104 104 103 10312 10214 103 10212 10312 1031410314 Registered - __________ 5 - -- - ---- 10112103 - - - - - -- ---Chic O L & Coke lsL-----5 103 103 104 104 10334104 10334 10412 1041 2 10412 104 104 104 1041 2 10414 10412 1041210412 104 10412 10312104 104 104 Consumers Gas 1sL- ---- 5 103 103 10153102 103 103 102 102 102 102 - - -- 102 10214 -- - - ---- 102 10213 Ind Nat Gas&. OiL - - - - _- _5 941 2 9412 -- - - -- -- ---- ---- ---- ---9412 9353 94 8634 947g 94 Mutual Fuel Gas lst- _____ 5 10112 10134 10134 ------- 10133 -- - - ---- ---- ---- 1011210112 101 101 -syracuse Lhrhting-lst ____ 5 9912 9912 ------ - ---------- --- ---- ---- ---- ---- ---- ---- 9934 9934 ---westchester Li~ht- -1950- __5 ------- ------- ---- ---- -- - 1021210212 ---- ---- ---- ---- ---------------- -- ----- ---- ---- ------- ---- - ------------------- ---- ------- ---- ---- ---------- ---------- ------- ---------- ---- ---- ---- ---- ---- ------- ---- ---- ---- ---- ------- ------- ---------- ---- ---- ---- ---- ---- --- ------ ------- ------- ---- ------- ---- ---- ------- ---- ------- -------------- ---- ---- ------ ---- ---- ~. --- ---- ---- ------- ---- TELEGRAPi,. Am Teleph &. Tel coll tr ____ -4 Convertible 1936 gold----4 Installment certfs _______ Keystone Teleoh-lst •35 __ 5 Mich State Teleoh lsL-----5 p acific Tel&. Tel lsL-------5 w est Union Teleg-1938---5 Fund &. real est 1950 ~- -4 ½ Conv 1936 series A-------4 Registered _____ ______ -4 Mutual Un Tel 1911------6 92 915s 92 9273 9312 9412 9213 9414 9233 955s 9434 981s 923s 94 - - -- -- - - - --- -- -- ---- ----- ---- 9912100 ---- --- --- - ---- -- -- -98 102 98 100 9812100 951g 9333 9414 95 9634 94 84 8512 8412 8614 -- 95 94 96 9773 106 9358 9414 93 95 953s 9434 9513 9453 95 9312 9233 1!312 9214 9212 92 93 10253 10534 10312 10538 10412 10612 103 10612 10312107 1037g 10714 1041410712 1031 4 10578 ---- ---- ---- - -- - ---- - --- ---- -- -- ---- ---- ---- --- - ---- ---- -- -- ------- ---- ---- ---- ----86 -- - ---- --- - ---- 9113 911s ------ --- - --- - ---- -9814 9814 -- -98 99 9834 98-34 99 98<>s 100 99 971 98ts 9634 9653 973.i 9714 9712 9712 98 9834 9814 9634 9734 985s 98 987s 99 8 -- ---- 981210112 101 10134 991210114 99ts 10012 99 9912 9913 10114 1001410014 100 1001 8 100 9433 9614 9534 9658 9.512 96 5s 95 9534 94 94 9314 9612 9414 95 94 9612 96 -- - 86 --9934 -- 1003g 9714 8612 8614 9212 9514 931410233 100 1005s 100 10034 10034 10253 8534 8814 8814 9212 8734 90 ---- ----- -- -- -- - - -- - -- - -- -- ---- ---- ---- -- -- -- -- ---- -- -- ---- ---- ---- 92 92 ---- ---- ---- ---- 100 100 95 100 100 100 100 ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- MANUFACTURING AND INDUSTRAL. 8612 8412 8814 8514 8814 85 Allis-Chalmers 1st 1936 ____ 5 81 8353 80 8353 8114 8314 8212 84 991 2 991 8 1001s 9973 10014 100 101 10038 10112 101 10312 98 A m Agricul Chem 1st 1928--5 96 98 9714 97 9714 9713 9714 9713 9712 97 9834 98 9612 9734 97 A mer Cotton Oil-deben- -4 ½ 96 <\mer Hide & Leath-1st---6 9634 9834 9834100 98 9934 9818 9834 9834100 100 10114 10012 101 69 69 74 7712 77 80 68 67 75 80 77 77 80 A mer Ice Securities-deb---6 67 9512 9512 96 96 98 98 9514 97 A mer Spirits Mfg-lst-----6 99 100 9534 9614 - --92 9134 9214 ·92 A mer Thread-lsL--------4 9053 91 9114 911i Amer Tobacco--40-year ___ _6 106121073s 1041210714 1061211013 110 1101 1103a 11212 111¾11214 11112 ll2 1061410714 106 10653 1063410834 11012 112 Re2istered--------------6 -- -- 111 11112 Gold 1951- _____________ -4 7634 7833 74 767s 755s 7833 7814 ---7953 7912 80711 7973 8014 801 8 8073 Registered ___________ -4 7614 7614 7814 7812 7912 7912 -- -961 2 9513 9613 9412 9514 96 Armour &. Co-1st real est 4 ½ -- - ---- -- 82 84.-- 8334 89 8912 90 8834 90 B ethlehem Steel-1926- - __ _5 83 8512 77 8312 7912 83 9878 9833 99 9833 100 9814 99 98 99 97 Cen tral Lea ther-20-year - __ 5 9612 99 9833 99 7912 8014 8013 8014 Consol Tobacco-50-year-- -4 7612 7712 75 751s 7612 7~ 7812 793s 7934 80 Corn Products Refg-s f ____ 5 ---- 95 00 96 ~7 9712 9773 98 9812 9712 9813 95 9873 1st 25-year s f 1934- - - - - _5 - ------ - --- --- - ---- --- - ---- --- - - -- - --- - -76 -- - ---7713 74 7814 76 7814 D istillers Securities-conv--5 7312 7873 75 7712 7434 77 77 7 6 E I duPont Powd-30-Yr-'l ½ ----Steel-1910 _____ -_5 100 10013 I llinois ----- -- - - --Non-conv dcben 1913 _____ 5 - ------ ---- -- 101 101 -I nternational Papcr-lst---6 101 10614 105 106 1041210514 1041410513 10412105 1043s 105 10434 10514 Consol conv s f __________ 5 85 8812 87 88 8712 8753 8712 88 8712 88 8712 88 8612 88 nternat Steam Pump-deb-6 100 10212 10112102 102 10212 102 10212 103 10334 103121035g 10312105 1st sinking fund 1929 _____ 5 ---- --- - -- ---- -- ----- ---- - La ckawanna Steel-1st con-5 94 9673 95 98 94 97 93 9512 9514 985s 97¾ 99 96 9813 Nat Starch Mfg lst----- ---6 - --- - - - - --- ------ --- - -- - - -- - - - - - -- -- - -- ---N Y Air Brake--Conv ______ 6 112 11312 10912 112 108 11012 10813110 10918 112 112 116 11473 11578 9512 9512 9653 98 R ailway Steel Spring-lsL-5 Republic Iron&. Steel-lst--5 99 10012 98121007g 98 100 98 9834 99 100 100 10114 10113 102 9712 96 9712 9714 98 9134 9613 96 nion Bag & Paper-lst---5 ---- --- - 90 90 97 97 Stamped- -- -- -- -- -- -- -- _5 S Leather-deben _______ 6 ---1041! 10514 1051210612 10512 10534 10512106 1061410614 106 106 905s 91 S Realty&. Imp-deben __ 5 8434 897s 88 89 8734 8933 89 9013 9134 9034 9112 90 S Rubber-coll tr 1918- - -6 1021410334 1021210314 10212103 102a8 10434 1043310434 1043a 10512 105 106 S Steel-sf 10-60-Yr----- 5 10213 10412 1021210414 1025s 1033s 103 10414 104 10512 1051310614 10512 10633 Registered _____________ 5 102 10414 10313 10414 10253 10333 10153 1043s 103341047s 105 106 1051410614 V a-Carolina Chemical1st 15-year 1923 _________ 5 !)334 947g 9418 9713 9613 97 9773 9912 9614 97 94 97 97 100 westinr,: El&. Mf~-conV---5 9014 95 9212 9412 9212 9312 9234 9334 927g 95 94 9512 9312 9453 ---- --------- -- ---- -- ---- ------ ---- ---- ---- ---- ---- ---- --- ---- --------- ------- ---- ---- ---- -- ------- -- ---- ---- ------ ---- ---- ---- ---- ---- 8412 8512 101341021g 9712 9812 101, 2 10312 70 75 9612 9612 81 SOis 8034 93 9434 88 90 9973 101 8033 8012 98 100 8073 80 8013 801g 9334 93 8833 893s 100 1005s 7973 8014 100 100 ---8012 1103411112 -- -- -- - - ---- --- 7514 7734 75 -- - - -- ----- ------ -- -106 -- ----- ---- ------ ---- -- --- ---- u u u u u 84 8612 10134103 9814 9834 1003410212 75 79 §'9 9934 92 92 11112 ll2 105 87 105 8712 88 - --76 83 8513 10112 103 9612 9838 102 10234 7333 7312 9673 97 93 93 109 111 1095311014 80 8034 80 80 9234 94 8834 9014 9834 10034 7918 8014 9813 9813 - --- --- - 8034 77 7 814 79 · 9313 94 90 89 9812 9912 7714 80 9612100 105 10714 10512 10512 7634 79 ---- 9434 90 9914 7814 9814 9634 75 ------- ------- --- - ---- -- -- ---- ---- ------- --- - --- - - --- --- - ---- ---10512 104 105 104 10412 10;112 104 8934 87 ---- -- - - - -- - -- -11612 11412115 10114102 9612 9733 98 97 106 106 9012 90 10434 10512 106 10814 106 108ts - --- 84 8573 1011210213 98 9812 10133102 70 7312 97 97 9333 8833 98 7814 9814 9553 --- - - - - -- - - -7412 7512 7412 7514 74 88 8913 88 88 10533 ---------- 104 ------- ---- ------9913 9838 99 98 98 115 8514 84 1013410212 9612 9812 1013410212 7312 70 9634 967s 93 93 106 11012 1015g 102 9614 97 97 97 10534106 8812 9034 10434 1053s 105 10712 105 10713 8973 86 88 8714 91 ---- ------ - - 9614 - - - ---9614 965s 97 9834 9812 995s 99 10013 73 73 - --1121211453 113 116 11212 ll5 98 98 9734 9712 9812 97 1007g 102 101 102 10173 103 9614 9614 9412 97 96 9612 9614 9713 - - -106 106 106 106 105 105 91 90 9034 8912 90 89 10412 10512 104 10514 104 1045s 105 106 10434 10512 10434 1055s 1043410578 1041210512 10458 10512 9812 9912 9812 9933 9714 9812 9612 9734 97 9914 94 95 931s 9514 9412 955s 9373 95 9234 9433 MISCELLA NEOU S. dams Express-Coll tr ___ -4 rooklyil Ferry of N Y-lst-5 klyn Fcrry-Ctfs dev for1st5 ~ush Terminal 1st 1952 - - - _ -4 C'>nsol 1955 ____ _________ 5 et M.&.M Land Grant-Inc-nstitution for Irrigation ks & Delep of Agri 1943-4 ½ terod Mere Marine- - - -4 ½ nternat Navigation-lst---5 N News ShiR.bld~ &. D D--- -5 w York Doc.k-50-year-- -4 :vidence Secili:,=ties-1957 4 Pro, 'dent Loan ShcietY--4 ½ US due&. Refinin~, -----6 * Qui',t\ 92 9312 9234 9314 9234 9334 9313 9312 9314 94 ---- ---- ---- ---- ---- ---- ---- ---- ---- ------- ---- - 9153 --- --915 91 91 93 93ts 9113 9112 9112 93 ---92 72 87 91 90 89 ---- ---- 93 8 ------- ---- 9214 9214 ---- ---- 9212 93 ---- ----- -- -- -903s 90 ---- 94 94 9414 95 95 ---- ---- ---- ---- -- - - --- - 9214 9312 92 9214 9234 94 93 745g 7153 733s 72 71 74 77 87 87 8613 87 8813 8712 88 94 95 7333 7438 71 75 8612 87 86 87 9212 9234 92 90 93 92 925g 9214 93 92 9212 -- - - 30 -- - ---- 3012 3012 ---- - --- - --- ---- -3012 -- - -3012 ---- ---32 -- - ---- --- - ------90 9053 ---- -- -- ---- ---- -- -- --- - ---- -- -- 90 9512 --- - ---- --- - -- - - 9614 9lil2 ---- ---- - --- ---38 3812 37 37 ----------------- 94 95 95 69 72 68 8458 85 18 - 9512 9512 9512 95 95 95 7ll ? 69~8 7214 6934 7034 68 -- ---- 84 ------ - 95 -- -- ---941 2 9513 9434 95 9414 9434 9414 --- --- ---- ---- ---------- ---- ---------------94 92 93 9312 9312 94 94 94 ---- --- .. 93 93 --- ---- ------- ---- ---- - 95 ------------------------- ---- ·--- ---- ---- --- - --- - ---- 9034 95 --91----- - --- ---91 8913 93 90 9014 ---- ---- 90 91 91 8913 90 ---92 re on the basis ot five dollars as the equ lvalentoto ne pounds terllng. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 9212 94 ---- ---- ---- ---------- ------9134 90 9113 90 95 72 9514 96 7033 7112 . 84 8312 8334 ---- ----- ---95 95 95 ---- ---9412 9312 9414 ---- -- -- - -- - - --- --- - ---- ---- - --- - ------ --- - -- -- - - -- ---- ---- - ·-- ---- ---95 9234 94 9234 9234 90 90 9112 g2 107 MISCELLANEOUS BONDS-RAILROAD STOCKS . 1909-Concluded. January February March Aprll May June JuJ,y August September October Novemb"e:r December Low High Low Htoh Low Hiql/. Low High Low H1,gh Low H1,gh Low H1,gh Low H1,gh Low High Low High Low Htgh Low Htgh BO NDS -------------1------- ---- ---- ----- ---- ---- ---- -----1------1------1----COA L AN D IRO N. B uff &. Sus Q Iron- 1932---- 5 De benture 1926---------- 5 Col Fuel&. l ron- s f 1943 ___ 5 Col .Fuel - Oe n 1919 ------6 Conver t de be n 1911 ______ 5 97 96 ____ 98 99 98 9834 ---- ---- ---10014 ________ 94 ---- ---- ---- ---- ---- 98 99 99 100 100 ---941 2 ____ ___ _ 95 9534 ---- --- - ---- ---95 9512 107 ---- --- - 871s 871s --- C olorado I ndustrialFirst &. coll trust 1934 ____ 5 7312 77 71 7514 72 73 7212 74 7312 78 77 Consol I nd Coal-1st 30-yr_5 ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ ____________ ---- - --- ---- - --- -- - - - --96 9734 - - - - - - - - - - - - - - - - - - - - ___ - 96 951 2 97 100 985s 100 97 97 9712 98 107 87 87 79 777s 8234 81 2 991 __ _ ____ _ 2 83 81 85 8212 8412 ____ 94 94 _______ _ JOO 100 ____________. ___ _ Pacahon Cons Collieries----5 ________________________ 85 88 88 89 88 89 8834 89 - --- ---- 88 88 _________________ ______ _ Tenn Coal I & RR-Oen __ _5 1021s 103 10214 1031s 10112103 10214 103 1025s 103 1021210312 10312 10312 1031~ 10312 1031s 104 10312 104 103 10334 1031s 104 Birmin gham Division-- -- 6 1061s 1061s 1061s 1061s 1061410614 108 108 108 108 ________ 108 108 1071s 107Is 108 108 __ ______ 106 106 ___ _ Tennessee Division-------61061410612 1061210612 _______________ _ 108 10812 1085s 1085s 10812109 108 108 ________________________ ___ _ Cahaba Coal 1st guar ____ _6 110 110 ____ ____ ____ ____ ____ -- -- - --- ---- ---- -- - - - --Victor Fuel-1st 1953 s f_ __ 5 ____ ____ ____ ____ ____ 87 87 87 87 ____ ______ __ ___________ _ Va Iron Coal&. Coke-1st- __ 5 95 96 96 9612 95 95 95 96 9534 9612 97 98 98 9934 99 100 99 100 9812 9912 9812 991s 99 9912 Oran d Riv Coal&C-1st-- - -6 ____________ ---- ---- ---- ____ ____ ____ ____ ____ 8412 82 991 - _ - - _ - _- 94 94 97 9812 9712 9718 8312 80 ____ 100 100 DEALINGS IN FOREIGN GOVERNMENT SECURITIES AT NEW YORK STOCK EXCHANGE. I August ~epzem/Jtrr N ovember December Jul y Ocw/Jer June January F ebruary Ma11 M arch Aprtl Low Htgh Low Htgh Low Hi{lh Low Htgh Low High Low H l,ah Low Htgh Low Hl,(Jh Low Hl,(Jh Low Htgh Low Ht,;;/. Low Hi{l h BONDS. ---- -- - - - -- - - -- - - - 1904 tm/t;~\f~!fg;~e1~1f_~~•!=-=--6 2d series 1911- --- --- -- 6 13efublic Cuba 1904 loan - --5 Mexico 1899 loan - -----5 Gold debt of 1904 --- -----4 1905 ht1ft~~\f~gJfg;;e/;1f_~ ~• !=-=-- 6 2d series 1911- - -- - -- -- 6 Sterling loan 1925- - - - -4 ½ 2 d series 1925 ------ -4 ½ ~egublic Cuba 1904 loan-- --5 Mexico 1899 loan - --- - -5 9112 93 ---- ---- ---- --- - - -- - ---- - --- -- -- 9234 935s 9212 935s 9318 9418 937s 95 89 9512 8978 923, 8934 ---- ------- ---90 - - -- ---- - -- ---- ---- --- ----9814 -9934 - 993s l-(ff14 1oois icff12 -997s i0234 1023s ioi7s 10212 i031f 1023s 1033 - - --- - -- ----- -- -- ---- ---- - 98 ---- ---- ---- 3s 983s 9812 9812 99 10012 ---- --- - 9712 9712 -- - - --- - ---- ---- - -- .. ---- --- - --- -9334 -943 ---- ---- -- -- ---- - --- ---- - --- -- -- ---- -- - - - --- ---- --- - - .. -- ---- ---- ---- ---- --- - ---- ---- ---9412 991 8 9814102 901s 9614 941s 100 100 102 9914 101 8812 9234 885s 917s 1os14 ioii1; 10658 ios· 10434 io57s 104121-0~ 10412 1-0512 iosi2 ioi- 10612 ioi1s 107 10814 100 10014 1001g 10034 100121011s 10013 10014 10014 1003s 10014 1001s 9912100 100 10034 92 9514 9514 96 9334 9314 937s 9312 943s 9434 95 Gold debt of 1904--------4 9334 9412 943s 9418 94 101 99 10312 9712 10312 97121021s 10014 10134 100¾ 102 10114 9514 98 9~ 7s 9912 98 1s 9912 985s 100 8612 8814 86 9034 897s 931s 911s 93 ---- ---- ---- ---- ---- ---- 1003s 10212 10014 10134 901s 9218 90 915s 105 10534 1005s 10014 941s 9434 9858 1021 2 98 991 99 9734 102 9714 991; 981s 931; 9Fs 901s 917s 91 9018 921 8 9114 9311 9Fs 1051410534 104 1055. 105 100 100 100 1001: 100 92 94 9412 937s 95 100 993 93 931 10 100 93 1906 lmlt!~\f~/fg;~ei31f_~~•!=-=--6 987s 1001s 981s 100 9234 951s 911s 9312 87 88 \3efublic Cuba 1904 loan- - -5 10534 108 Mexico 1899 loan - - - - - - 5 9912 100 Gold debt of 1904---- - ---4 923s 95 100 10012 997s 1003s 9012 95 8912 9134 87 88 106 10712 9918 1001 2 9434 94 2d series 1911- - -------6 Sterling loan 1925 - -- - -4 ½ 2d series 1925- - - - ---4 ½ Sterling loan 1931- - -----4 10018 1011 2 963410112 100 10114 9714 10114 9012 9212 9112 931s 895s 91s8 9034 9214 8434 87 8312 8614 10334 105 10433 105 1011410112 9912 10038 937s 9434 9414 9512 9733 100 9714 99¾ 913s 941 8 9014 9314 83 14 86 10314 10512 9914 9934 9414 96 9914 9934 9814 99 9334 943s 927s 93 5s 8412 857s 10514106 10012101 94 945s 991s 10014 9812 9918 94 9412 905s 9312 82 83 10514106 9834 10012 9414 945s 995s 1005s 100 1011s 9914100 993410012 9212 9114 94 5s 91 905s 9Fs 897s 91 8212 8312 8214 8314 104 10612 10112103 99 991s 983s 9834 94 9412 9312 9412 9814 99 9814 987s 91 14 92s8 921 8 91 8312 8434 102 1021s 9712 9838 9458 94 987s 9912 987s 991s 9212 91 9014 915g g41 8 82 102 103 98 99 921 8 92 99 9912 99 993s 90 915s 8678 91 79 s1as 1023410314 98 98 92 9212 9914 9934 993s 995s 90 86 8412 8634 757s 79 1023410314 9712 9712 9112 927s 853s 8814 885s 8934 8558 88 883s 893g 7518 791 2 7958 s114 1021210314 10314104 9812 9834 99 9912 93 9334 92 93 891s 90'.I 857s 8914 781s 7914 103122105 987s 9934 92 93 87 903s 8612 8912 76 SOis 1041210514 97 97 9114 895s 82 103 98 9334 10034 10014 9214 9012 83 10412 98 9412 9518 977E 9518 975s 9114 93 895s 92111 82 843i; 103 10412 975s 98 9412 953s 9612 973 9614 97 923 91 9034 921 83 843 10134103 98 99 9314 931 1907 f ft~\f ~ ifo"a~~ef~1p_o_~t~ =-6 2d series, 1911 - -------6 Sterling loan, 1925----4 ½ 2d series, 1925-- - ---4 ½ Sterling loan, 1931-------4 of Cuba, 190~ loan _____ 5 of Mexico 18!19 £ loan--5 Gold debt of 1904-------4 m f{g 9634 9934 967s 9912 91ss 943g 901s 937s 8214 8514 1015s 10312 963s 99 9312 94 9812 995s 99s8 98 8914 941s 8814 911s 8212 8434 103 10334 9334 94 9812 9934 99 9934 8734 9012 8712 895s 8378 79 983410112 99 99 9212 94 97121003s 971210038 8812 9112 8734 9112 805s 8334 9934 102 9812 9834 93 95 8514 8714 8412 8634 77 78 1001410114 9s14 991 8 93 9312 85 8612 851s 8614 7658 7738 101 10214 9758 981 4 93 94 9934 99 7s 995s 9934 8678 893s 8834 86 8012 79 10014 101 97 97 911 2 92 ------- ---- ---- ---- -----8334 -8914 84 887s 8014 75 98 10114 96 9734 92 89 -848414 76 95 93 8834 -8712 867s 7814 9812 95 90 -8558 -873 8614 871 785s 791 97121001 971 96 8734 89 90 91 8834 90 so18 8258 1021410234 985s 9834 9312 937g 9114 92 9014 915 8214 823 10212 1033 ll83s 991 9212 94 1908 Imperial Japanese Govt.Sterling loan, 1925- ---4 ½ 2d series, 1925- -----4 ½ Sterling Loan. 1931-- - ---4 1 t3eg Gold debt of 1904-- - ----4 il~:!~o 11it f1~a~==g 1909 86 91 9034 85 8378 89 s41 8 8738 75 80 7758 so 102 104 1023410334 9834 9812 9912 96 9012 9414 9314 9412 ---- ---- ---- ---- Argentine--Internal 5s of1909 ---- ---l mlt!~\f~gJfo"a~~ef~2~-o-~t~A ½ 903s 9112 9134 9334 92 935g 2d series, 1925 - - -- --4 ½ 8914 9014 9014 93 915s 93 Sterling loan, 1931 . - _ - __ -4 8034 82 82 85 843s 8534 Re.pe~i~r~~a·c¼rs~~ Iilt=4 J 10212104 10214 103 !,an Paulo (ifrazillrect s , ·19 _5 19212 9iis U.S. of Mexico, 1899 !: loan - 5 - 9914 1-cff1 2 9734 99 Gold debt of 1904- - - ___ __4 9214 935s 9314 94 ---- ---- 985s 99 9614 9714 951s 9612 95 931 8 9412 9234 94 87 8834 1021210312 19212 -9-3-34 19314 -95- 191- -9-47s 194- _9_5_ 987g 99 9812 98 98 9934 9812 9934 93 937s 93 9312 9334 95 94 95 931s 94 923s 9318 855s 8612 1013410234 10212 10312 9014 9112 8914 9012 so18 81 1021410312 99 101 -9212 -9-314 9334 9414 941 8 93 9212 9312 8534 8812 1031210412 9334 9412 93 9414 87 875g 102121033s -92- _9_5_ 98 99 9314 9412 9614 951s 97 9018 89 8712 8912 791 2 so18 1021t 103 9812 9834 943s 943s 9512 9634 957s 9634 9512 96 9438 955g 9314 9412 9218 94¾ 931 8 941 2 9134 9334 921g 9334 8714 877s 86 8712 86lz 875s 103 104 10314104 103 10414 9612 97 96 9612 963s 9612 -9434 -9512 94 953g 9434 95 9514 96 99 100 9734 9912 9714 9734 9714 97¾ 94 9414 9312 9414 9314 9314 93 94 9414 9534 9234 9438 86 875s 102 10318 9312 941 2 9314 9378 8758 ss1 8 102 10318 9614 971 9534 9 ~ 971s 9838 9334 941 4 t Fla t prlce--all others "and Int erest." Note .-In rnse or bonds or rorelgn governments Issued In po nds sterling. the usage or the Stock Ex:changP Is to consider ftve dollars as the equivalent or nnP pound 9terllng . a uct tnP , onve <J't" t at lons are on tnat basis Witt the e x:cP,ptlon 0 1 the Republic or Gulla 5s and 4.½s and the U. S. or Mex:1co 4s ur H:104 ( .:utch a re Issued In t he .enoml n::it.lon or u0 llnrs >. Lh bondJ 1n t he roregoll g ar,:: all steri1ng 1~~ues PRICES FOR STOCKS AT THE NEW YORK STOCK EXCHANGE. EMBRACING THE YEARS FROM 1905 TO 1909_IINCLUSIVE. 1905. JANUARY FEBR'RY. MARCH. , APRlL. =~ M.AY. JUN E . JULY. A U GUST- SEPI'' BER . OcroBER. NOV'BER. DEC'BER. - - - - - - - - -- - - - - - - - - - - - - - - - - - - - -1-----1----- 1- - 1 Low.High Low. High Low.High Low.High Low.Htgb Low.High Low.High Low.Higb Low.High Low.High Low.High Low. High !!,'J'OCKS. Ann!::~~~~~-~~=~=~~ Pref........................ Atchison Top. & 8. Fe.. Pret.. .... .... .. . .. .. ...... . Rhrhte ..................... Atlo.n. Coo.st Line RR. Baltimore & Ohio ....... Pret........ ............... Buff. Roch. & Plttsb .... Pref........................ Rhrht8 . .·......... .. . . .. .. . DuOalo & Su8q., pref... Canadian Pacific . . .. . -. Certificates ......... . .... Co.no.do. !Southern....... Central of New J er■ey. Cbe1mpeake & Ohio ... . . ()blcaao & Alton..... ... Pret . . .. ... /J 35 - 37¼ 66 - 70 88~ 87l,(-b91 99 -102 101 -103)4 .... - _ 84¾- .... - .... 120 -125 100½ -106 95¾- 97 164 -lii9 159 -160 5 - 5¼ 87½- 89¾ 130¾-184% 129¼-130½ 67¼- 72h 190¼-100¾ 413%- 50}4 4.0.¼i- 43¾ f<O - 831( .il.1 • r1ghts. . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis %- ¾ 121½-126¾ 102 -108)4 97 - 98 1110 -160 5¼- 5¾ 88 - 81)% 133 -141¾ 180½-140¾ 69%- 70¼ Hl6 -205!,ii 49½- 52 41~- -il% 8~ - 82lJi( 1~~~ .... - •••• 70 - 74 74 - 76 86!'4- 93¾ 82 - 91¼ 102 -104¼ 101%-103¼ ½- :14 1 ¾- % 125½-145¾ 142¾-170 107½-111½ 104 -111¾ 91 - 97~ 05!1(- 97½ - .... 146 -157½ .. • - .. .. .. .. - .. . . 88 - 90½ 9~- 91 137 -150¾ 145 -155~ 189}(-148¼ 151~-154¾ 69¼- 72 I 69¼- 71!U. 198%-203¼ 1Q4¼-204½ 49!).(- 603,s 49¼- 69¼ 38¾- 44¼ 32½- 42½ 80 - 83¼ 80 - 83¾ 75 - 75 77%- 85~ 101¼-102¼, . 146 -159!,,. 104¾-109¼ 98 - 97¾ ... - ... 34 - 3~ 7U - 79 7o¼- 84)4 133¾- 88 101,t-ll/4,l{j 101½-lOJ .... - ........ - . .. 148½ 165 155 -164½ 10, -114¼ 112¾-115¼ '.17 - 97½ 97½- ij9 .. • - .... 150 -150 . . • - •. . . 90¾- 91!},. 1'1)4-160¾ Ut¾-14-<% 68¾- ~o l90 -198¼ 45¼- 51¾ 31 - 35¾ 7 7¼- 79¾ ... 893'- 9;)¾ H6 -15~ . .. - . . . 68¼ - 69¾ L96 -2tJ4 47¾- 63¾ 85 - 86 771A- 81¾ ····J.... - ... . - .... ... 1 ~~ ~~ ~~~ ~~ ... - .... . ... - ........ - .... 75¼- 75¼ .... - . • . .. 86)4- 91¾ 881,-(- 91¼ 87¼- 90¼ 82 102½-105¾'104)4-105:H> 103)4-105¼ 102 . ... ' ... . 159¼-170 161¾-169¾ 160~-167½156½-167 157 -1 112¼-117 110¾-113%110¾-114¾10~-114¾110½97 -100 97½- 9'n 97 - 98¼ 97 - 9~ 97, _ 150 -150 - ... . 158 -168 153 -156 . .. 16!l¾~l1;,; ' - • .. .. . • _ .. .. . . . _ . . .. _.. _ .. .. .. .. _ · y 89 - 91 fl6-~- 91¼ 87 - 89 .. .. - ..•. 86 , - .,- 84 _ 84 141} -155}4 154½-165¾ 159~-17'7}1.168%-176 1 , -:.15:)i;' l~-l76 .. .. 68¾- 68¾ 69~- 74~ 08¼- 69 68¾- 7 - 69¾ 68¼- 73¼ 19i-J -20.!X? 202¾ -220 210 -216 2 ll> -235 220 -232 220¼-228 51!);1- 55~ 54 - 58:% . 58 - 59~ 5!}( - 59¾ 51 - 56 53}9- 57 8.:i - 37½ 35½- 42¾ 85¼- 3 ~ - 3d~ 32¾- 34 so _ 33 78¼- Rt 801(- 8tl),( . .. 75 - 79¾ 76 - 77~ 75¾- 'i6 - ....... - ........ - ........ - .... -RAILROAD STOCKS. 108 190~ -«Jontlnued. 0 8TOCKS. JANUARY FEBR RY. MAl-lCl1. .A.PRIL, MAY. J UNE. JULY. AUGUST • .3EPT'BER. OCT0BEH.. Nov'BER. DEC' BER. - - - - - - - - - - --/-----+---- - - - - - - - - ,-----< Low.High Low.High Low.High 1,ow .High f,ow.Higb 1,ow.Hi,zh Low.i:It,zh Low.Hlgt, Low.Hlllh Low.High Low.High Low.High ---------- ---- ---- - - - -- --- --- - - Ohle. Burl. & Quincy .. . 210 -250 250 -250 230 -285 ll5 -215 :?02 -202 205 -205 201 -:.!05 .. . - • .. . . ••• - • •• . . . • • Ohle. & E.Illlnol ■ , pret. 142 -143 142 -142 .... - ... . . . .. - •••. 135 -186 •••• - .... Oh.lCB.&'O Greo.t Weat .... 21'¼- 241' 22 - 24½ 22 - 25¼ 19¾- 24¾ 17¾- 21¼ 18~- 20¾ 193,4- 21 20 - 22~ 21».(- 22 21 - 22~ 19~- 21'¼ 20¼- 22 4 per cent debenture.. 85 - 86 85 - 8~ 86 - 88½ t-4¾- 87 8."l¾- 87 86 - 86"' 84¾- 85 843,6- 85 ~¾- 89 873,4- 88¼ 86¾- 87¼ 85M- 86¼ ~ p. c. pref., A........... 65¼- ~ 66¼- 67½ 62¼- 6~ 68¼- 70¼ 60¼- 64¾ 60 - 65 68 - 65 64 - 7~ 72 - 78½ 7 ~ 78¼ 74¾- 78¼ 73 - 77 4 P• c. pref., B........ .. 32¼- 85¾ 84¼- 37~ 84 - 3~ 32 - 87¼ 29 - 32~ 29¼- 82¼ 81 - 32¾ 81 - Si>½ 38¼- 3~ 83¾- 36~ 38¼- 857. 83~- 85¾ Chic. Ind, & L., pref.... .. .. - .. . 88 - 88 - .. . . ... - ....... - ... . 88 - 88 .... - . .. . Obie, Mllw. & St, .Paul .. 171~-178¾ 175¼--181 178!1:(-183~ 170¼-187½ 168¼-179l)t, 170¾-178 176!1:(-182~ 179 -187 175 -lSi¾ 178¼-183 172¾-181¼ 176¾--182¼ Pref ....................... . 182¼-192 188 -190¾ 185 -192 185 -192½ 188¼-188 186 -186 186 -189 186 -1913,t l85¼ 190 187 -189¼183 -180 186¼-191 Ohlc,&Northweat ...... 205}1;-249 286 -249 236¾-24<»i 225 -245 205 -283 a l9(%-208 206 -212 212 -224~ 2101,(-218 143,6-22!½218 -223½217 -224 Pref ........................ . 234 -265 266 -265¾ :.!57 -268 250 -262 25()¼-250¾ . .. - ... . 2-10 -240 2!0 -249 M4 -244 240 -243~ 235 -235 240 -248¼ Chic. R. I. & .Pacific .... . 1703,6-170½ 170 -171 ... - ••• . 170 -170 .... - .... 164 -161 Chic. St, Paul M. & 0 ... 150 -226 198 -211 195 -202¾ l75 -195 170 -185 178¼-188 187¾-190 190 -199 190 -J92~ 190 -194 186 -188!,6185 -191!1! Pref. ....... . . . . . . . . . .. . .. 195 -230 205 -205 200 -200¼ - • .. .. • • - .. .. .. .. - • . . .. • • - .... 197 -200 195 -195 .. • • - . . . .. .. Chic. Term'l Tran ■fer.. 7¾ • 19~ H%- 19½ 16¼- 19 17 - 19l}fi 17 - 18½ 17 - 20 18 - 19!>. 17 - 19~ 18 - 113 16¼- 19¼ 16¼- 19 H¼- 16 Pref ....................... . 17½- 82:)4 27 - 85½ 81 - 86¾ 30 - 86 so - 82~ 80¼- 41 37¼- :12½ 36!1:(- 41~ 88 - 40½ 37¾- 41¾ 87 - 41½ 86 - 40 Olev. Cln, Chic. & St.L. 90 - 102¼ 94 -100¼ 97¼-111 91 -108'4 93¼-100¼ 93¼-bW½ 90)4- 99 97 -104¾ VJ -101 98%-101~ 93½-100½ 95 -108¾ Pref..................... .. 120 -120 120 -121 119hi-121¾ 118;14-11~ ll8 -119x 118 -118 115¾-120 ... - .. . . ll8¼-110½ .... - . .. 117Jlt-118 .... Cl"ve. Lor. & Wheel.. . 79 - 80 90 - 00 80 - 80 85 - 85 80 - 85 85 - 85 72 - 72 - • . . . 80 - 85 - .... 80 - 80 Pref.... .............. .. ... . 1(15 - 101"½ 108½-110 110 -110 110 -110 .... - ••• . 110 -110 .... - .. . 105½-105½ . .. - ....... Cleve. & PlttBb. a-uo.r .. 185 -185 184½-194.½ 184¼-184¾ 183¼-183¼ 182~-182~ 182!1:(-183 183 -183 . ..• - ... . Ul2 -182 183¼-183% .... ~peclal . ... . ........... 108½-108½ Colorado & Southern. . 22!,4- 25~ 24~- 26!},j 23 - 27 25 - 30~ 24 - 28 26~- 27~ 27 - 29x 27!',i- 29% 27 - 28½ 27½- 29¼ 25 - 29 28 - 30¼ ht pref... . ............... . 60¼- 63 61½- 64½ 59¾- 62¾ 59 - 62¾ 52 - 68\d 57 - 5) 58 - 63 61¼- tl4 60 - 62¾ 61¼- 68½ 61 - 64% 6i - 69¼ :ld pref . .. ........ ....... . 36¼- 87x 36¼- 89½ :H - 37¾ 35 - 8914 82¼- ~ 84¾- 87½ 37¾- 40¾ 39¾- 44~ 39¾- 46" 42 - 44~ 42 - 4-4~ 44)4- 55 Delo.ware & l udBon .. . 180¼ 186 180 -196 197 -194¾ 183 -196~ 178¼-188 179¼-1'10}:( 188¾-194¼ 193 -225 211 -220¾ U4 -240~ 220 -237 220 -227ll:( llhrhta......... .... -· .. . .. .. ¼- 1 ¼- l¾ . ... - . . . . ..• - .... .... - ........ Del. Lack. & Western . . 335 -84.6 346 -368 353¼-400 372¾-39! 366 -384¼ 880 -881 380 -4251>\ "'24>ti-470 450 -465 457!,p-498¾452¼-489 !5 -460 Denver & Rio Grande. . 30¾- 83½ 32 - 34 32¼- 36¾ 31 - 35¼ 27¾- 31½ 27)4- SO¾ 29:J;(- St½ 3U!- 36¼ 83%- 37½ 83 - 35% 84 - 35¾ 34¼- SP¾ Pref..... . ................ . 86 - 86~ f6xi- 89 o7M- 91 85 - 90!1,{ 83"'- 87 85¼- 89¾ 85¼- 87~ 86¾- 90 88¼- 9~ 86 - 89¾ Still:(- 88¾ 80¼- 91J4 Des llto. & Ft. Doda-e.. . 28 - 23 22 - 24 24 - 28½ 24 - 25 1~ - 18¾ 21 - 24 21 - 23½ 20 - 22¾ . . . • - . . . . 20 - 20 16 - 26 28 - 27¾ Det. So., vot. tr. ctf8. . . 6¼- 97,,fi 5 - 8~ 6 - 6¼ 4¾- 6 *8 - 10¼ 9 - 11½ 9¼- 10¼ 10 - 12¾ 11¾- 12}4 11 - 11¾ 10 - 10¼ Pref. votloir tr. ctfa.. .. 31½- 36 31¼- 36~ 31¾- 82 33 - 34 .... - •. •. *42 - 42 89 - 41 41 - 42 42 - 43 41¾- 42½ 86 - 41 37 - 37 Duluth So, Sh. & Atl. .. 12¾- 17x 14¼- 16:U 15 - 17 13 - 16:k, 119'- 14 12 - 15 H - 16¾ 15 - 16l}fi 13!1(- 16½ 15 - 16¼ 15½- 22,4 18¾- 21¾ Pref...................... 26 - 37 31 - 35!}.f 303,4- ~ 25 - 83¼ 21 - 27 24 - 29 28 - 31¾ 30½- 86¼ 32¼- 36¾ 33 - 85¾ 35 - 44¾ 38¼- 41% Erle-........ ................. 87¾- 44~ 48 - 47¼ 44!14- ~ 41 - 47¾ 87¼- t3¾ 39¼- 44~ 44%- 48¼ 45¼- o2¾ 477k 62¾b46¾- 601i 46¼ - 60¾ 46¼- 4\1~ ht pref.. ................. 70)4- 82½ 79}4- 81¾ 79¾- 83½ 76 - 82¾ 74¼- 79¾ 77¼- 82 81%- 85 83¼- 85½ 81¼- 83~ oSO¾- 82~ 711¼- 82½ 79¼- 81¼ 2d pref............ . ...... 56¼- 67¼ 64~- 66½ 65¾- 71½ 61¼- 71¾ 61 - 67¼ 64¾ 71~ 70½- 75!4 73¾- 78¾ 72¾- 77!4 b71¼- 78~ 70¼- 75¼ 71¾- 76 Bvo.nBVtlle & T. Haute . 68 - 72¾ rn - 70 68 - 68 65 - 66 .••• - ........ - ••. . 63 - 65 66 - 75 75 - 75 75 - 75 .... - ........ .Pref .... . ... . . . ............. .... 90 - 90 90 - 90 - .... . ... 95 - 96 - .... 85 - 90 .... Ft. Worth & Den, City 44 - 46 44¼- 47 46¼- 61 61¼- 66 6S - 69 69¼- 70!1:( 74 - 74 72 - 76 73 - 74 74 - 75 72¾- 72¾ .... Greo.t Northern, pret... . 236 -254 250 -800 290 -810 270 -335 265 -296 278 -28i 231 -294½ 28i -826 811½-827:1:l 314 -327¾ b264 -315 268 -292 Right ■ ................... . .. •• - .... . ... - ... . .... - - .... 33 - 85¾ 33 - 34¼ Green B . & W .-Ser. A. 84 - 90 83 - 83¾ .... - ........ - •. .. 85 - 85 - ... . 85 - 85 90· - 90 Deben. certs., l!!ler. B. 17¼- 21~ 2~- 24 19¾- 2~ 20½- 23¾ 17 - 23 20¼- 24½ 22¼- 2t¾ 22 - 23¼ 21 - 24¼ 22 - 23¾ 20 - 22½ 19¾- 21 Hockina- Valley. . ....... 86¾- 91 89 - 93 9L¾- 99 92 - 9:1 87 - 90¼ 90 - 93 91 - 91 91½- 98!4 90 - 92~ 92 - 93~ 93¼-119¼ 112!,ji-121¼ Pref . ...................... 90 - 98½ 90¼- 92)4 91!'(- 96¾ 92¼- 95 91¾- 92¾ 92¾- 95¾ 92ll:(- 93~ 91¼- 94¼ 92 - 93 91½- 94 93 - 97¼ 9-2½- 95¼ [lllnol8 Centro.I. ......... . 152¾-160!}.f 165 -163}4 158 -16-1 157 -170 155 -162¼ 167¾- 167~ 166M-17o¾ 170¼-180~ 174'4-183 L77 -1F3 173!4-180 173 -170!1:( Lea,ed lines stock. ... 104 -104 .••• - ........ - .... 104 -104 .... - ... . .... - ... ... .. - ... . .... - •. 105 -105 . . .. [owa Central............. 20 - 81% 29 - 32 27 - 29¾ 26 - 30½ 24 - 2S 24 - 27!):d 26¼- 28½ 27¾- 29~ 27¼- 29~ 27¾- 29¾ 25¼- 28¼ 27 - 29'( Pret.. ....................... 65 - l'>8 54¼- 58¾ 54 - 57¼ 63 - 67 60 - 50 60 - 52 51 - 54 58 - 68½ 66 - 68 65¼- 59¾ 55 - 57¾ 55¼- 61 4 Joliet & Cblcaa-o ........ . ... - ... . 180 -180 - .... 182 -182 ... - ........ - ... - .. . . .... Kanawha & llllchtgan. 36 - 373,4 SO - 87 87 - 39 29¼- 80¾ 80½- 32~ .... - .. 8S - 83 36¼- 35.x 84¼- 42)4 39 - 60),.( 49 - 68~ K.C.F .s.& M. t. ctfs.pl. 81~t- 82½ 82!,-.(- 83 82%- 84½ 82¾- 84 82 - 83}( 31¾- 84 81'-(- ~ 82¼- 85" 84¼- 86~ 85 - 87 84¼- 86!4 82~- 86 Kansa■ City Southern . 27¼- 31!,4 29¾- 8! 27¼- 82 26¼- 32 22¾- 29 23¼- 27 25¼- 27 27 - 28).{i 26¼- 273,i 24¾- 271}4 21$ - 82 29¾- SB!,( '.Pref ........ ..... ........... 62 - 65~ 63¾- iO 68 - 67¾ 69 - 6tS 56¾- 62¾ 64 - 57 65J,<a- 58!!( 66¾- 60¾ 64 - 56~ 62¼- 69¾ 63¼- 64 60¼- 68% Keok. & DeB Moines... . 14¾- H!I:( .... - .. .. 14 - 14 - .... .... U - 17¼ 18¼- 14½ ... - • .. . 15 - 16 16 - 17 Pref ... . . . . . . . . . . .. . . . . . . .. . . . . - . . . . .. .. - .. .. 52¼- 52¼ .. • • 40 - 40 45 - 46 46 - 60 51 - 52 ... ; - • • .. . .. • - • • • • . • • • - • • •. . • • • Klnir•ton & Pembroke. .... 6 - 6 - •••• •.•• Lake Erle & W eBtern... 35 - 41¼ 37 - 40½ 39¼- 44½ 34 - 41 30~ - S5 28¼- 31~ 30¼- 80}4 32 - 37 83 - 86 83¼- 84¾ 83 - 87¾ 85 - 47¼ Pref ........................ 100 - 101 101)4-101¼ 99}(-106 100 -100 97 - 97 91 - 96 .. .. - .... 96 - 96 95¼- 95¾ 95¼- 96¼ 95 - 95 95 - 99 Lo.ke Shore ................ 290 -310 300 -340 320 --350 310 -816 .. . . - ... . 810 -810 812 -320 315 -325 .. .. - . . 310 -325 325 -825 25 -345 Lona- Island............ .. 56 - 66 60 - 65½ 56¼- 61 56 - 66 50¼- 68¼ 52 - 55 U - 67¾ 65¼- 71¾ 65 - 67 65 - 71 64 - 73¼ 67¼- 71 Lout ■vllle & No.Bhvllle. 184½·142½ 137 -141¼ 1~-146~ 141 -156>,1 140 -148¾ 142¼-151% 148~-150¾ 146 -152~ 144¾-157~ 149~-156¾ 146¼-lM.½ 149~-154!,t Manhattan Elevated .... 165 -172 16~-175 166¾-172¼ 161¼-16~ 161 -164¼ 162~-166 164¾-166½ 165 -167!):d 163¼-166¼ 165!,4-167½ 162½-166 ltll!,-.(-16!!,4 Mexican Centro.I ........ 21¼- 24¼ 22 - 24¾ 23~- 26 20 - 25% l~- 22~ 19:k!- 21¾ 20%- 23 22 - 25 22¼- 24'4 23¼- 251M 22¼- 24½ 23¼- ::.!5¼ Mlchla-o.n Centro.I ........ .... - .... 136 -150 150 -150 .... - •... 152 -152 130 -130 .... - .. . 140 -166 140 -140 140 -HO 146½-148 140 -!.I.I}¾ M.lnneap, & St, Loula.. 66½- 60 60 - 62 59 - 62~ 68 - 64~ 60 - 60 • • . - ... 60 - 62 68 - 7 68 - 73 78 - 84~ 79 - 81~ 713 - 82 .Pref........................ 86 - 87¼ 89 - 91 .... - .•. . 90 - 90 91 - 91 •••• - • .. 92 - 92 92¾-100 98 -102 L02 -106 100¼-100¾ 100 -102¼ Minn, St, P. & S, S, m. .. 89¾- 99~ 98 -117½ 111 -122 110 -12~ 107¼-117 114J.i;-125 121~-129 123¾-148¼ 134¼-lH 135 -142½ 136 -1-10 136¼-146 Pref ....... ................ 148 -160 lf>8!i,(-ltll½ 169 -169¼ 157 -165¾ 158¼-169 165}9-161½ 16~llt.2½ 162!,(-166¾ 164 -170 160!4-164 162)4-166¾ 165 -173 Mo. Ko.n ■ as & Texas... 30 - 83¾ 30¾-- 32¾ 30~ 83¼ 26¾- 32¼ 24 - 29 26¼- 2~ ~ - 20¾ 28¼- S5 38¼- 35 81 ¾- 34¾ 33¾- 39¾ 85 - 39¼ Pret... .. .. . . . . .. . . .. . ... . . . 62 - 67¾ 63¾- 67 6ft - 69 58 - 68½ 56¼- el¼ 57¼- 64¼ 62¼- 65¼ 68¾- ?3 68¾- 72¼ 67 - 69¾ 67 - 72¼ 61 - 71¾ MlHourl Pacific .......... 104½-108½ 106¾-1097~ 106¼-110¼ 96 -108¾ 94¼- 91:1 95¼-102¼ 97¾-101¼ 99¼-109¾102¼-108¾ 102¼-106½ 96¾·10!~ 99 -103¼ Horrla & Ea ■ex. .. . .. . . . . . . . . . - . . . 185~-185~ lQO -190 • • . . - . . . . . • . . . • . . . • • • - •... 185 -185 186~-186¾. . .. - • • • . . . . • - . . . •• • No.&hv. Chatt. & St, L .. 187 -146 141¼-146¼ 145 -147% US -158 140 t103¼ 146 -148¾ 142 -150 146¼-153 146 -154 148 -148 146 -1~ 1453(-152 • Nat'l of Mexlco-Pret... 40¼- 45 41¾- 43¾ "1 - 43 34~- 40¼ 88,¼i- 36 84¼- S6 36%- 88¾ 87¾- 39¾ 87¼- 88¼ &6 - 37½ 85¼- 38 35¼- 40~ ~d pref................... . 21J.p- 24¼ 22 - 23½ 21 - ·22!,d' 20}4- 21 18).6- 19¼ 17~- 18¼ 20 - 21½ 20¼- 21½ 19¾- 21 19 - 19 18¼- 2~ 20 - 21¾. 1!11, Y. Cent, & Had. Riv. 141;14-149¼ 146~-161 164¾-167~ 141 -168½ l86!!(-tt5¾ 188¼-146¼ 148!,(-149¾ 146½-156½ H6¼-152¾ 147!14-164¾ 147}1i-152~ al44 -157 ,Rla-hts ... .......... .... ... . .. - ... . .... - ........ - ........ - ... . ... 4¼- 7 N, y. Chic. & St. Lou... 42 - 46½ 44 - 48 46 - 61¾ 47 - 55~ 48 - 49 44 - 48% 47 - 53Jc 60 - 54¼ 49 - 56¼ 53 - 66l>I 51~- 56 66 - 76!,4. l•t pret .......... ......... 119 122½ U~-117% 115 -116 116 -116 .... - ••••••• - .... ll4 -117¼ .... - .... 115 -116 !-H¾-lH¼ U7 -121 ~d pref............ . .. .. . .. 75 - 82 75 - 80 78 - 83 77½- 85 74 - 81¼ 78 - 81¾ 80 - 83!Jia 80 - 84 80 - 85;14 86 - 86~ 132¼- 87½ 88 - 95 N. Y. & Harlem .. ...... 400 -4.00 •.•• - .... 402 -402 .•• - .... 400 -400 .... - ... . .... N,Y.Lo.ck.&Weat ..... 136 -135 . ... - ••• . •••• - ..• .. ... - ..•.••.• - ..•. 184¾--184~ . .•• - ........ - .... 136 -136 N. Y. N. Haven & Hartt. 198¼-208 200~-210¼ 200 -208 201¼-204~ 194 -203 197¼-200 · 1&9¼-202¼ 201;.(-211 207 -216 201¼-209¾ 200 -204½ llH ¾-198}4. Rl1rbt8 ....................... - ........ - ....... - ........ - ........ - . .. . ... - ..... . .. ,.. ........ - · · 4¾- 6¾ N. ¥,Ontario& We■t ... 40¾- 45¼ 43¾- 56)4 53%- 64 49 - 63% 4~- 52¾ 49 - 58¾ 50¼- 58% 62¼- 58 52'4- 56¾ 52¾- 56¼ 50¾- 55¾ 60¾- 51¼ NoTfolk & Southern ... .... - ........ - ........ .. - ... . .... - ........ - ........ - .... 40 - to 60 - 50 . ••• - .... . ... - ... . ortolk&We■tern_ .... 77¾- 80¾ 79}:(- 84¾ 8S - 88¼ 76¾- 87 76 - 80¾ 77½- 8~ Si~- 87¾ 84¾- 87 83%- 861,( 6!¾- 8'3% 83* 87 83 - 85¼ ref........... ............ 92 - 94 91¼- 94¼ 98 - 94½ 91¼- 91½ 91¼- 93½ 98 - 93~ 93¼- 94 927-(- 96 92 - 92 92 - 93¾ P2 - 98 92¼- 93¼ hern Central ...... . .... - . . . - . . . . ... - .... 296 -220 216 -222 228 -228 . ... - .. .. ~ ern PacUlc ......... .... - ... . ... - ........ - ... 165 -178 169½-196 181 -190 187~-208 204 -216 205¾-214 201 -212½ 191¼-206~ 193~-207¼ ~ -Coa■t Co.......... 78~- 84 84:¼- 98¼ . • • •.••••••• ••••••• 100 -104 105 -108 pref. .. .. .. .. .. . . . . . . 85 - 86¼ 87 - 98 Pen ylTIIL?' R .•.. •.. 185 -189¼ 187'4-146,t "2 - 91)% 103 -108 95 - 95 140~-14'7M 87 - 94 104 -104 91 - 94n 187¼-1'4¾ ¼- .¼i ~ 4-8¼ 40 - 48!1:( 100 -101 •••• . • • • - • . .. • • • • 79¼- 87':t 74 - 82 108¾-112 108 -109 18Hv-18!¼ 184 -185 Rlalat ,. .... · · ... .... ;. .. · Peoria & Ea■t 27 - 84,t 82¼- 45¼ Pere Marquette.......... 77 - 97!1( 98 -106 Pref.. . . . . . . . . . .•• . . . . . . . . 80 - 87 84¼- 87¼ Pitt■, Olnn. O , & St.I.· 5 - 79 79¾- €3¼ Pref ...•••••••• .•••••••••••. 11" -108 105 -108 Pitts. Ft, W. & Ch .• ,ra . 185 184¼-lSi~ NOTB.-Cblo. & N. w. rt1htuold loJ uneatlSJ;(to l6¼. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 84¾- 85½ . • • . - • .. . 85 - 8~ 131¼-140¾ •••• 84 - 89½ . • . • - .... 85 - 85 138¾-Ul~ 90 105 91 140 - 90 -105 - 96¾ -us~ 94 -107¼ 108 -10~ 102J4-10:l~ 100 -105 99:)4-107 . • • • - • • • . • • • • - •••. 103 -103 . •.• - • .. . . . .. - -... 95 -107 104 -106¾ 104 -109 105 -1~ 107¼-108 U.2¼-li8 UQ¾-145¼ 142%-145~ 187%-1~ 188~-14'¾ - .... ••• - 40 - U¾ 88 - 89 86 - •••. 99 -101¾ 101 80¾ 79 - 81 80~- Si~ 88 80 78 80 - 83¼ 80 •••. 105 •llO 106 -106 .... - .... 182J.(-182M.... a Ex diT.andrlghta. • Trust Co. certlflcates, assessment full paid. 32 - 87 :iO - 40 85 - •••. 100 -100 . ••• - • • .. 81 - 82~ 71%70 - 77¼ 76 - 78 76 106 -106 .••• - ........ 1~188~ l~-185 43 - •••••••• - 4.2 86 - 4.2 40 - f.7~ -101 - 84. 48 - 50 - 83 80 - 83~ SJ¼- 86M - .... 106 -106 103 -108¼ .. .. - .... b E.z:-rlgbta. RAILROAD AND M'ISCELLANEOUS STOCKS. 109 190:i-Contlnued. JANUARY FBBR'RY. STOCKS. MARCH. APRIL. MAT. JUNE. JULY. AUGUST. SEPT'BER. OCTOBER N0V'BER. DEC'BER. - - - ---- ---- - - - ---- ---- - - - - · - - - ---- - - ---- ---- ---- - - - ---- Low.H!gh Low.Hlirb Low.Ht11h L()w.Hlllh Low.High Low.High Low.High Low .High Low.High Low.Hlirh T,ow Ht11b Low.High - - -- Railroad Securities, Ill. Uen t. atk. tr. ctia . 92 - 93~ 98¾- 96 95 - 00¾ 95"- ~ 96½- 96¾ 96¾- 97 93¼- 94½ 95 -100¼ 98¾- 99½ 97¼- 99 98,½i- 98~ 97¼· 97½, Reading ................... 79 - 90" 88 - 97¼ 92¼- 99¾ 88¾- 99 86¾- 94½ Ol~-100¾ 99-U-108'3 103¼-126~ 114%-124 119ll:(-129¼ 128¾-148~ 188¾-141~ lat pret.. ................. 91¾- 93~ 92 - 94 91 - 92~ 91 - 93 90 - 92 90 - 92 91ll.(- 95 92¾- 9~ 91 - 97 911$.(- 95¾ Olli(- 9l~ 91¾- 93 ~d prel. .............. .... 84 - 89 88 - 92 89ll.(- 91¾ 90 - 91½ 85¾- 87 87 - 91¾ 91¾- 96 91¾- 96 93 -100~ 97¾-100,-s 96 -101 95 - 97¾ 210 -210 . Rensselaer & Saratoa- . 209¾-2~ . - . ... - · ••· - .... .. . - ... .... Rock bland Co ..... . .-... 337,>B- sm 84 - 87 32¼- 86¾ 2~- 86½ 24¾- 30¾ 25¼- SO¾ 2~- 82¾ 30ll.(- 85¾ 81¼- 84,-s 28¾- 34¼ 2318- 80¾ 21¾- 27 74 74ll.(- 77,-s 76 - 81¼ 78 - 80½ 72¾- 81½ 60½- 74 60¼- 68,t 79¼- 82¾ 78§g-81¾ Prel . 79¾- 85 - 82 71¾- 75 78 - 76 .. ... . ... - . 1353(-185¼ 186 -137 Rome Wat. & Oa-dena . . .... - ... . .... - . .. .... ... . - ... 134¼-134¼ - .... 69 - 72¼ 69¾- 69~ 64 - 64 Rutland, pref ........... 60 - 63 60 - 65 58 -M .... .... . 67 - 67 . .. - ... 59 - 68 St. J 08. & Gr. bland .. 13½- 17¾ 17 - 17¾ 14 - 14 16½- 1~ 13 - 13 12 - 15½ 16 - 17.½i 17 -18¾ 17½- 19'A 17¾- 22½ 20 - 20 21 - 25 1111 pref............. ... 5! - 58¾ 67 - 53¾ 51 - 55 52 - 58 46¾- 48 47¼- 52~ 50 - 52¾ 52 - 57 56 - 62½ 59 - 63 58 - 62½ 62½- 65 2d pref.................... . 27!,(- 29 27¾- 29,- 24¼- 26¾ 26 - 27½ 22 - 24¾ 20 - 28¾ 21¼- 2,½ 23¼- 28 27 - 81¾ 27¾- 32½ 31 -3~ 32~- 35 . ... - .. . St. Law. & Adirondack 100 -100 ... .. .... - ... - .. .... - . . ... - .... - ... .... - . . . .... 77!,(- 81¼ 75¾- 78¾ 78¾- 73¾ 74 - 76~ 77 - 78¼ 76 - 79¾ 781¼- 79',( 76%- 79 70 - 76 67 - 76 8t. L. & S.Fr., 1st pref 75 - 79¾ 78 2d pref .................... 70 - 71¾ 70 - 78¾ 70 - 73½ 65 - 71¾ 61 - 67½ 64 - 68¼ 66)4- 69!J.t 68~- 71¾ 66½- 70¾ 64 - 71½ 56¾- 66¾ 45 - 62 C. & K. Ill. stk.tr.ctts. 175 -179¾ 177 -178¼ 178 -192 190 -190 190 -198 190 -194½ 188 -190 190 -190 190 -190 180 -19!i 181 -181 .... PreJ.atock truat ctfs. ... 184.¼-184~ 138 -188 182½-184:½ 132 -138 1333,f-184 .... 185 -185 - .... 130 -13! . ... - .... - .... .... ... - ... .New 8tock tr. ctfa .. . . . .... .... .. - . ... . .. - . ... .... ... 75¼- 76M - ..... .... ... . .. - .... . St, Loub Southwest'n. 24½- 27¾ 25¾- 27% 25 - 27¼ 22 - 27¾ 20 - 24¾ 22 - 24}4 22¾- 24½ 23¾- 27% 28¼- 26 23 - 25 21 - 24 21 - 28~ .Prei . . .................. . 57 - 63¼ 60¾- 64h 60¾- 65¼ 66J4- 66¾ 55½- 64¾ 59¾- 61¾ 58 - 63 60 - 64¾ 60¼- 64 58 - 623,4 55 - 60½ 55 - 60~ Southern vot. tr. ctfs. stamped extended .... 32¾- 81} 83¾- 86¾ 33¾ 311¾ 29¾- 85½ 28 - 82 28¾- 82'¼ 32¾- 34% 33¾- 36¾ 34%- 38 85 - 37¾ 33¾- 86:J.j 33¾- 36¼, Pref. do do ... 96 - 97¾ 97 - 98'¼ 98,-s-100 95 - 97~ 95 - 96¾ 96 - 97~ 98 - 99 98:U.-100½ 99:)4-102¾ 98 -100!,4 97¼- !!9¾ 99 -100~ M. & O. stock tr. ctf"s. ... .. 98 - 98¼ .... - .... 97 - 97 97,-s- 97¾ .... - .... 99½- 991A 91}¾-100½ 100¾-100~ . ... . .. 99 - 99 99 - !!9 Southern Pacific Co .... 63¾- 6~ 66}i- '7'i ¾ 65¾- 71% 68½- 69¾ 57:14-63% 60¾- 65¼ 63 - 66¾ 641,(- 68¼ 6!i~ - 69¾ 67!1,.(- 72¼ 66¾- 70¾ 6'1 ¾- 71¾ .Pref ........................ 115¾-118¼ 118 -121¾ 117¾-119 116½-118¼ 116¼-119~ 117¾-121 117¼-118¼ ll 7¾-120¾i119¾-120~ 119 -120½ 118¾-121 117¾ -122¾. Texo.a Central.-.......... . .... - ... . ... - .... - .. . 55 - 55 .. . - .. . 52 - 52 - .... .... .... - . ... .... - ... . . I-ref ....... ................ .... 82¾- 82~ ... - . .. . .... .... .... - . .. ... .... .... - ... . . ... - ... . 90 - 90 . .. . Texo.11 & Paclftc ....... .. 32¾- 35¾ 84}4- 38¾ 87 - 41 29¾- 39¾ 80 - 88¾ 31¾- 84¾ 82¾- 34~ 83¼- 37:k; 35 - 38 38!1,.(- 86¾ 32¾- 36¾ 32¾- 35%: 19 - 19 Tol. Peoria & Western .... - ... . 19 - 19 . .. - ... . ... - • · . .. .. - ... . ... - . .. . - . .. .... - ... . - .... 'l'ol.St.L.&W ,,v.tr,ctb 35¾- 36¾ 35¼- 87¼ 86 - 4.0% 35 - 4.3}~ 34¼- 39 37 - 89 37¾- 89¼ 87~- 38¾ 37¾- 89¾ 36 - 39½ 36¾- 88¾ 35 - 37~ Pref., vot. tr. ctts ..... 61:'-t- 54ll,j 53¼- 56¼ 62¾- 59¾ 54~- 65 52~- 58¼ 55¼- 67¾ 55¼- 57'¼ 57 - 59¾ 57¼- 59¾ 55½- 59½ 56 - 58¼ 56¾· 69¾, Union Pacific ............. . 113 -123¼ 121 -137'½ 127 -186¾ 118 -137 115 -124½ 119¾-129 126¼-181~ 129¼-138¾ 123¾-184¾ 130¾-135¾ 127:J.(-lS!,½ 184¾-151!16 Pref ..................... 97 - 98~ 97 -101~ 99¼-100 08 -100 96 - 118 96¾- 98!. 97 - 99 98¾- 99 96 - 96½ 95¾- 97~ 95¼- 98½ 96¼- 99¾! Vandalia .................. . - . .. . 85¼- 86 . ... - .. ... .. , ... ... ·•• · · ••· - .... 83~.!- 85 · ••· - .... - .... .... - . ... 85 -100¼ Wabaah ..................... 20¾- 2'.c!:!11 21'½- 28~ 22 - 28¾ 19 - 23¾ 17¾- 20½ 18¼- 20¾ 18¼- 20 19 - 23 20¾- 241' 20¾- 23¾ 20,-s- 22½ 20 - 21~ .Pref ........................ 41 - 44~ 43!14- 48 !l4¼- 47¾ 41¼- 4.7¼ 37 - 48 37¾- 41¾ 38¼- 41¼ 40 - 4i½ 40 - 4.5¼ 40¼- 44¾ 38~- 42~ 89~- 42 .... Warren ................ .... .. . .... - ... . - . - ·•• · . ... - .... 185¾-185½ . - .... . .... - ..... Western Maryland .... .... .. . ... .... . ... .... •• · • . .. .... .... - ... ·• •· ... . .. - .... . • · · 27 - 29¾ 26¼- so Wheeltna- & Lake Erle 17¾- 19½ 18¾- 19¼ 18 - 19~4 16 - 19¼ 15 - 17 15 - 17 15¾- 16x 17 - 18½ 16¾- 18 17 -17¾ 16¼- 18 17 - 19 1•tpref... ................ . 44¾- 46½ 45¼- !l8 44¾- 47½ 39¼- !l5½ 30 -H 86¾- 41½ 83¾- 41 89 - 48¼ 40 - 43 39 - 41!14 88 - 42 40 - 48¾ ~dpref..... . ... . ........... 25¾- 27 26¾- 28¼ 26 - 28½ 24 - 27 20 - 23¾ 22:'-(- 251J.4 23 - 25¾ 22 - 25¼ 23 - 26¾ 25 - 25¼ 24 - 26¼ 25 - 27¾ Wlaconsln Central ..... 21¼- 2'1¾ 22½- 25¼ 22½- 25 20 - 24~ 20 - 24 21!J,J- 24¾ 22¾- 24~ 23¼- 33¾ 28'½- 82½ 28 - 32~ 28 - 30¼ 28 - 81!,f .Pref........................ 45 - 54 49¼- 54,l,4 50'-(- 54¼ 46½- 54 4.5 - 60¾ 47¼- 53 50¼- 52¼ 51¼- 62¾ 57¾- 61¼ 59 - 64¼ 58½- 61½ 58¼- 6!i .... ••• 4 ... ..... ...... - .... .... - .... .... - .... - ... .... - .... .... - ······ .... ... .... - .... -~ ... - ... .... .... .... .... .. - .... - .... - .... ... .... .... .... .... - - - .... .... ... - ... .. - .... - ... .... - .... ... .... .... - .... .... - .... - .... .... - . U6!,& -250 228 -246 122 -134 246 -260 245 -246 226 -238 126 -134 249¾-252 EXPRE~S. /tdama ...... ; ............... 286 -245 American .................. . 209½-234 Onlted Statea ......... .. .. . 120 -125 Wella, Fara-o & Co . .... ~ -247¾ 'OOAL & MINING. Amala-amated Copper . . American Ooal .......... . Anaconda Copper ... .. Central Coal & Coke ... U_oloro.do Fuel & Iron .. Pret ....................... Col. & H. Coal & Iron .. Con•olldatlon Coal...... Home■ take Mlnlna-.. Lehla-h & Wilkes Coal New Ventral Coal, new. Ontario Sliver Mlnlna-.. Plttsbura- Coal of N. J .. Pref...................... . Qulcksllver Mlnlna-. . .. . Pref ....................... Tennea•ee Coal & Iron Va. Iron Coal & Coke .. ·•·· ... .... - - .... ... - -. ... . - .... .... 70 - 7~ 78¾- 240 225 124 245 - .... - ... . ... - .... - - .... - ... .... .. .... - .... - - -250 -238 -129 -250 250 234 122 245 .... -250 -244½ 220 -280 -124 122 -125 -24.5 285 -285 242 220 123 235 -2!3 -225 -124¾ -250 245 -2!9 230 -235 125 -126 i35¼-24.5 . ... - .... .... ... . ... - ... .... ... - .... - .... - .... .... 243 225 -230 121'4-125 .... - .... - ... -2!i3 222 -230 225 -280 120 -125 117 -123 ,:35 -235 287 -2!i5 · •· - . ... i 21 -226 110 -128¼ 2W!,ji 245 77'½ 76 - 81~ 78¼- 897,>B 75 - 84¾ 77¾- 8!:h 81¾- Si~ 82¾- 88¾ 79¾- 84¾ 81¼- 86½ 78¾- 90¾ 89 -111,t .... - .... .... - .... .... - . ... .... - ... .... - .... .... - . ... . ... - ... . - .... ... - . .. 175 -175 169 -169 . .. - ..... 105 -110 108 -123 110 -130 l00¼-114 102½-109 106 -114 118 -113½ 107½-125 L16¾-1251A 116 -158 15~-295. 64¾- 6!¼ 65½- 71¼ .... - ... . .... - .... .... - ... . ... - .... .... - .... .... - .... .... - .. . . ... - .... .... - . .. 46 - 54 50¾- 59 42¼- 57¾ 38 - 47¼ 39¾- 45¾ 4.8¼- 48~ 441,:( - 47~ 41 - 46¼ 48½- 48¾ 4.0'½- 49¾ 44¾- 58¼ 93 - 94 91 - 91 95 - !!5 ... - .. .... - . ... 80 - 92 93 - 93 94½- 95).a 85 -100 100 -105 100 -104 12¾- 14¾ 13¼- 16 14.¼- 15¾ 15 - 17¼ 14 - 16¾ 15~- 20 16 - 17¼ 15¾- 18¾ 14%- 17¾ 11¾- 14¼ 11¾- 14 .. - . .. 73 - 78 ... - ... . ... - . .. . ..... - .... .... - .... - .... .... - .. . . ... - .... ... - .... 92¼- 94½ . .. - .... 71 - 73 75 - 78¼ 79 - 80 79 - 80 73 78½- 78¼ .... - .... 77¼- 80 77¾- 80 80 - 80 80 - 81 81½- 82 .... - .... ... -- 75½ ... .... - .... .... - .... .... - .... .... - .... .. - .... .... - .... . .. - .... . ... - .... 45 - 45 .... - .... .... - .... 42 - 42 42 - 42 .... - ... 42 - 42 42 - 42 .... - .... .... - ·• · ... - .. . ....1 - ... .... - ·•·· . ... - .... .... - .... 8~- 4 ... - .... 2¼- 2½ . ... - -.. . .... - .. . .... - .... 1 - 1 2 - 2 - 2 l¼• S½ 2¼- 6 .... - .... ... - ... . ... - .... .... - ... 17 - Sl 14¾- 19½ 12}i- 16 13½- 16 13¼- 15½ 16¼- 16 13~- 15~ 14¾- 17~ 45M,64 54¼59¾ 62}i- 69 .... - ·•·· .... - .... 60¾57½ 5Sl}.(69½ . ... ... . .. 78¼80¾ 62¼76¾ 57¼- 68~ 1 - 1 .... - .... 1¾- 1}4 l¾- 1~ 1 - 1 .... - .... 1 - 1 ¾¾- 1~ · ••· - . ... ¾ ¾- ¾ 1 - 1,% s~- 3¾ ... - . . 2~- 4¾ 2¾- 2iJ,;i 2¼- 2¼ - ••· - .... .... - . ... ... - . .. .... - .... 4. - 4'¼ 3 - 3 s - 4 tJ8 84¼- 92¼ 90¼-129 118¾-148 80ll:(-106½ 73 - 87!,4 74 - 85 8S 86¾- 91'¼ ·• 103},(-112'¼ 65 - 65¼ 43 - 48¾ 95 - 95 14ll.(- 18½ ·••· · ••· - 78¼ 71¼- 97~ 8tl¾- 99¼ 4.0 - 43.!-1, 4& - u23,c, 45 - 61:J;t 41½- 50J,t 37 - 45 36 - 40 - 92% 40 - 41¾ 41 - 42 82!1t- 887A 39 - 42¼ 42 - 62 40 ·- 43 47 - 52¾ VARIOUS. Allla•Chalmera . ......... . 14 - 18 15¼- 19 14¾- 18 14½- 17¼ 13 - 15¾ 13¼- U½ 14 - 19¾ 15%- 19½ 15¾- 18¼ 17 - 21¼ 18.½i- 21¾ Hl¼- 24x( 64 - 66 62 - 68 5i - 62¾ 4t1J.!i- M½ 50¾- 52½ 51¾- 63!,( 54¾- 64 53 - 61½ 59¼- 64¾ 59%- 68~ 60.½i- -66~ Pref .................. ... . 56 - 6'1 Amer. Aa-rlc. Chemical 20 - 21~ 21¾- 22½ 20 - 24¾ 24 - 29¼ 22 - 25¼ 23¾- 24½ 23¼- 24½ 23¾- 25 22 - 25¼ 23¾- 26 24 - 25l'4 23¼- 25¾ ... 89¼- 92 90¾- 91¼ 89¾- 91¼ 89¾- 89¼ . ... . ... . ... 95 - 95 93%- 98¾ Pref....................... . .... - .... 989'- 98!14 91 - 91 Amer. Beet Sua-ar....... 24 - 24 24 - 26'4 25 - 84½ 27¾- 32 25 - 81 24 - 24 25 - 25 28½- 25¼ 26¾ 24½- 26¼ 28 - 28:J4 23x(- 85 82 - 85 80 - 83 ?8 - 82¼ 81 - 85 Pref ............ . ........... 77 - 77 84¾- 85 .... 84 - 85 85 - 86 82½- 84 .... . .. 83½- 89 Amer. Car & Foundry. 31¼- 84~ 8."I - 86~ 34½- 39¾ 88¼- 48% 31 - 87¾ 82¾- 35¾ 34.½- 87¾ 86¼- 88¾ 85 - 88¼ 3~- 43¼ S~- 42~ 88¾- 42~ Pref....................... 91¼- 94'½ 92~- 95¾ 93~-100¼ 96¼-104½ 94¾- 99½ 97 - 99 98 - 99¾ 99)4-102 99 -101 99½-102¼ 100 -101 98 -102 Amer. Cotton OU Co ... . 33~- 36¾ 33¾- 87 33%- 36¼ 88¾- 38 30¼- 33'¼ 30¾-82,M 27!1.(- 33¼ 29¼- SO½ 29 - 81 30 - 88¾ 81 - 86¼ 34¼- 40¼ Pret ......... .. . ........... . 95 - 95 95 - 97 98 - 95 93 - 95¾ 94 - 96¼ 92 - 95 89¼- 92 92¼- 95 96¼- 95½ 97 - 97 921'- 93¼ 91 - 93 31 - 40 37 - 45 30}i- 81½ 29!1.(- 32 .. . . , Amer. 01st. Telea-raph. 88 - 88 - .... .... - ... 33 - 33 29 - 32¾ 29 - 81~ 10¾- 14 Amer. GraH Twine. 8 - 11 8't- 12:U 9 - 11 7¾- 9¾ 7 - 9 6¾- 7~ 5¼- 6¼ 5¼- 6~ 4ll.(- 6¾ 5.½i- 8¼ ~-10 6¾- '7¾ 6¾- 8~ 9 - 11¾, Amer. Hide & Leo.the1 9¾- 11¾ 9¾- 10,M 9:J,t;- 10¾ 8 - 10¼ 7¼- 9¼ 6 - 7½ 6 7¾ 6 - 7 7½ 7 Pref ....................... 45¾- 51¾ 47¾- 52¾ 50¾- 65¾ 42 - 52~ 40 - 47 8!i¾- 42~ 8~42¾ 36 - 40 81¼- 88 29¼-~ Sl - 867" 84¾- 48),(. .. ... - ... American Ice Co.......... 6}i- 6¾ 5¼- 7¼ 5¾- 5~ 6 - 6 - .. . - .... Pl'et ............ ............ 35¼- 38'¼ 39 -41 38¾- 40 89 - 89 ... ... ·•• · ... 6 - 6 Trust Co. ctfs....... .... . · · •· . 4¾- 6 ·•• · 4* 5" 4¾- 5 Pref. Truat Co. ctfs.... .... . ... 38 - 41¾ M - 89½ 85 - 88 87 - 87 ·•• · 26 - 29¾ 26¾- 27¾ 269(- ~ ~ Amer. lee Secu1·ltles.... .... . . 25 - 27'4 24ll.(- 27 29,a 29lr 30 American Linseed ..... . 15¾- 18 15¾- 17½ 16 - 20¼ 17¼-22!'4 16½- 19 18 - 18 17½- 20¼ 18':(- 19 17 - 18':( 17¼- 19-U 16¼- 19½ l~-23 Pref........... . ........... . 36 - 40 87 -U 89¼-~ 4.3 - 48½ 42 - 46'-f 89'½- il¾ 40 - 42!1.( 41 - 42 893,r 42'6 403(- 48¾ 883'- 48 4 American Lecomotlve. 33 - 38 86¼- 43'4 4lll.(- 5~¼ 47 - 61¼ 44 - 58¾ 45¾- 49¾ 4.6¼- 60¾ 47'¼- 66)4 47¼- 64M 63¾- 71¾ 64 - 78?,t 67 PreL ............... . ...... l03M-111¾ 110 -112¼ lll¼-118¼ 118¾-~ 108¾-llb¾ 110¾-lU 110%-112¾ Ul¾-119~ 112¼-116½ 118 -117~ llSM-1203' }16 -ll8 American Maltlna-..... . 6~- 8¾ 7 - 7¾ 6¾- 8" 6 6~ 4¾- 5 6¼- 6¾ 5¼- 6½ 5 - 5~ 4¾- 4¾ 4 - ~ 4!(- 6~ 6 Pret .... . ...... ........... . 25¾-27¼ 28¾- 27¾ 25 - 28~ 28¾- 26~ 213,f- 24¼ 20 - 2i 24 - 25hJ 22 - 26½ 28 -2~ 24¾-2~ 25~ 2 ~ 25 - 26),(. 63(·• 5~ 5 5 .... .:. . True& Co. c&fa ..... .. ... . - .... · ••· ~-26 . .. . . - .... .. 24M.- 26 . Pref. Tr1111& Co. ctfa ... . . Am. Smelt. eec., pt., B . ... . 97"- 98¾ 98 - 98Jii 98 - 99~ 97¼- 99}4 98¾-100 99 -102 99¾-100¾ - ... · ••· Am. 8melt'ar & ReOn'a-.. 79¼- 86'4 So - 92 &IM-108~ 108 -128~ 106~-1113¾ 108¾-119¾ 115 -124% 123M-181¾ 122~128"' 1251'-18'"'4 137 -16?'1, 150~-170~ Pref ....................... . lll!,(-119¾ 116':(-119% 118 -128'-' 121¾-127 116!14-122 117 -122 119 121~-128 1003'-lZSM 12Cjf-125~ 12SH-1S6 126¾-187 .... - .... . .... - .... ...... - ... .... - .... - .... ... ... .... .... .... . .... -- .... -- .... ... -- ... .... - ... .... - .... .... - .... 24* .... .. .. .... .... - .. . .... .... - ·•·· .... - .... .... ........ .... -- .... - - .... .... - .... .... - .... .... - ... .... - .. . .... - . .... - ..... - .... .... - .... . - .... .... - .... ... .... - .... - ........ ..... ,v- - '™ ... .... ... .... .... - ... .... - .... .... .... .... .... .... .. ... - ... .... ... .... - .... .... - .... ... -- .... ... .... ... -- ... . - .... - .... .... - ... -··· - .... - ... .... . - .... -~ .... .... NOTJ:.-Ran1e for Col. Fuel A I. rl1ht1 w&1,-s to 2¾ tnA.pril, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis - - I 10 MISCELLANEOUS STOCKS. 190:S-C,ontlnoed. AUGUST. 8:EPT'BBB. OO'l'OBBB. N0T'BBB. DIICl'BBa, MA.BOB . APRIL MAY. Jmn. JULY. - - - ---- - -- ---- ---- --- --·- Low.High Low. High Low.IliRh Low.H~h Low High Low.High T,ow.High Low.HiRh Low.Ht,rh Low.High Low.High L<>w.'RtRb ---- - - -- - - - - - - - - - ----American Snaff........... ---169¾-183 180 -180 175 -175 175 -175¼ 163 -170 .. - .... 170 -170 183 -200 189¼-189¼ 185 -200 226 -250 245 -250 106 106 -106 105 -105¾ 105 -107 lOIIU--110 99 -100 LOO 103 102 8TOOK.8. J.llRJilY .ll'liB&'BY, 99¾-101¼ 99¾-lul -103~ -106½ -105¼ Pref......................... -101½ 102 -106¼ 8¼-13 Amer. Steel Foundries 12'(- 18 14¾- 17 16~- 18¾ 13 - 17¼ 11%- 15 6¼- 10~ 9~- 10¾ 8¾- 10 10 -14¼ 12 - 13~ 12 - 141' 36 - 39¼ 38¼- 41:U 89 - 89'-( 39¼- 47¼ 48¼- 46~ 45~- 52¼ Pref ....................... 62:)(- 65 60¼- f,3½ 60¼- 66:,, 54 - 67¼ 50 - 60 35¼- 53 .I.mer. Suarar Ket. Co ... 13:;¾-144'4 142 -145¾ 139¼-149¾ 136 -145¾ 130 -138~ 132 -140 1S7 -143½ 141},(-146 137 -141 138},(-144½ 136¼-144¾ 139 -154¾ Pret ................ . ...... 137},(-139½ 139 -139% 137~-140 13i¾-139~ 133 -137¾ 134~-13d 1361¼-138¼ 139¼-141 137¾-189 188Jr14o 138 -140 138~-140 . 93 - 93 92¼- 98 93 - 95 90 - 91 91 - 93 Amer. Tel. & Cable Co, 95 - 99¾ 92¾- 94 90¾- 00¼ 90¼- 00¼ 921,r 92¼ Amer. Teleph. & Telear. 14i¾-148¼ 143 -147 145¼-146 143 -145 136:U-140}(i 139¼-142 139 -139~ 141¾-143 189 -140 138¾-188¼ 185 -136 131 -140 ... .. .... ... - .... . Amer. Tobacco Co,, pf .. 1413¾·156 .... - ... 140~-14~ .... ••·• · ••· - .... Am, Tobacco (new) pf . . 91¾- 94% 94 - 99¾ 95¼- 98¾ P5 - 99¾ 94¼- 97¼ 95%- 98¼ 96¼- 97% 97 -104 99¾-102% 101¼-103 100 -10774> 104¼-109¾ 30 - 40¼ 29¾- 35¾ 32 - 35¾ 35 - 39 35¼- 39% 33 - 38% 36¼- 43¾ 37 - 47¼ 40 - 46¼ American Woolen Co... 2G¾- 23¼ 22¼- 26~ 24 - 31 Pref ........................ 93 - 97 98 -9~ 99¼-108½ 105 -10~ 102 -105 101¼-105½ 102¾-104~ bl02:Jii 05:l.( 102¼-105 101¾-105¼ 102%-106 lO!l -106 . , .... . ... .... .... . 12¾- 32 .... .... .... . ... .. . - .... . ··•· .... .... ...... - . ... Rlshts 99 - 99¾ 99% -107~ 106 -110 108 -110¼ 107¼-108 107 -108¼ 98¾- 99 99¼- 99¼ 91}¾-100 Assoclat. Merch,, 1st pt 96 - 97 97¾- 99 98¼- 99 Brooklyn Rap. Trans .. 58¾- 64¾ 60¼- 66¾ 6!l¼- 68¾ 5d½- 71¾ 56%- 63¾ 61 - 70¼ 67 - 78¼ 68¾- 71~ 65:1:(- 72% 70%- 78¾ 72¾- 91¼ 83¼- 91¾ ... .... - .... Brooklyn Union Gas ... 203 -209 210 -215 209½-210 200 -206 18!1}9-205 100 -192 .... - .. . 180¼-189 180 -180 175 -180 Bruns, Dock & C, lmpt. 10%- 12¾ 11¾- 18¾ 12¾- 14¼ 13¾- 16¾ 14¼- 15 14½- 16¾ 15¼- 15¾ 14 - 15¾ 15 - 16 14¾- 15¾ 14¼- 16½ 16 - 22¼ 60 57½57½ 56 57¼- 57½ 56 - 57 .... - . - 56 67 - 57 56 - 56 50 - 62¾ 58 - 60 - 6V¼ 59 - 60 Butterick Co ... ......... . .... ... .... - ... ... ... 41½- !l7 42 - 44¾ 40 - 44½ 43;1:(- 47¾ 42 - 46½ 44 - 47¼ - . .... (J-:,ntral Leather ........ . ·•• · . .... · ••· - .... .... 103½-105½ 103¼-105¾ 103 -105¾ 108¾-105¼ 102¼-105% 101¼-10~ .... . Ptef ..................... . .... ·••· ... .... . .. . - .. Cent, & So. Am, Tel'a'b 118 -121 118¼-121 120 -125 123¼-125¼ 125 -127 - .... ... - . .. . . ... - . 180 -135 63'- 10¾ 6%- 8½ 6 8¼- 9¾ 7¼- 13¾ 10~- 13½ 10¾(- 12½ 10¾- 18)4 7¾ 7 - 10 t..:hic, Union Traction ... 9½- 13¾ 11~- 13% 9½- 13 48 39!1(37 40¾45 88 - 42 ... - . 81 - 86¾ 30¾- 39½ - 89J,ji 35¼- 45¼ Pref........................ 39½1- 49 47½- 54 40 - 50 35 - 40 Consolidated Gas . ...... . 194¼-204¾ 201% 211 204 -214 L99 -207 184½-202 186 -193¾ 189 -192¾ 185 -193 180_!.t-187 182 -19~ 175 -185¾ 175 -186¾ . .. . .... .... .... .... . - .... - . ... Cont'ntal Tobacco, pf .. 128¼-132¾ 132¾-133¼ ... - . .. ... - .... .... ··• · 10 - 11¼ 9 - 11¾ 9:1(- 13¼ 12¾- 16¼ 12¾- 15½ 14¼- 21 9¼- 14¼ 8:1(- 11 Corn Products ........ . . 17~- 21¾ 19½- 22¾ 12¾- 20¾ 11¼- 14 40 - 51 50 - 63¾ !l2 - 60 47¾- 58 51 - 57¾ 52 - 55 62¼- 63¾ 47 - 50 Pref ........................ 74 - 79 76½- 78% 62¼- 77¾ 69 - 65 91¾- 9!l 92¾- 95¾ 93¼- 95 91 - 94¼ 91¼- 94¾ 92½- 93¾ Detroit United Ry ... , ... 76½- 78¾ 77¼- 79¼ 78 - 84¼ 83 - 86¼ 81½- 9(1¼ 89¾- 95 -140 140 . ... . ... .... . ... .... 138¼-138¼ .... ... ... ... - .. ... 142)4-142¼ 14.0¼-146½ 141¼ 142¾ Diamond Match ...... . .. . 40½- 47½ 40 - 4.5 41¾- 43¾ 40¾- 44¼ 42 - 44 41¼- 48½ !l2 - 47½ 43_!.t- 48 46¾ 54¼ Distillers Sec't'• Corp .. 34%- 39¾ 36 - 38¾ 37¾- 47 .... ... .. ·•·· - ... . ... - ... . ... ... .... - .. 50 - 65 58 - 63 Dlstill'a of Amer., pret. .... 148%-152½ 151¾-157½ .... Eastman Kodak .......... .... - .... - .. 148¾-149% .... - . ... .. . - .. . .... . . ·••· .... Elec, Storage Battery. - .. 86¾- 89¼ 83¼- 88¼ 81~- 89,½ 76 - 81 78 - 80 79 - 83 82 - 87½ 85¼- 88 83 - 85¼ 81 - 83 80 - 83 110 -112 112 -123¼ flll5-145 133 -141 100 -109 -115 109 -114 100 100 -116 105 -128 -107¼ 60 101 - 66¾ 63 -120 Federal lllin. & Smelt Pref ....................... . 75 - 79 78 - 97 89¼- 96½ 94½-107½ 90 - 98½ 92 - 90½ 90 - 96½ 93¼- 96 92 - 93¼ 93¾- 9i:I¾ 96-bllO¼ 105 -110)4 61 - 63 70 - 72¾ .... .. 74 - 80 62 - 62 60¼- 62 63¼- 63¼ 64½- 68 General Chemical ....... 57¾- 60 59¾- 59~ 56 - 66 69½- 61 Pref.. .................... 101¼-101½ 102 -104 102 -103¼ 101 -101:% 102 -103 104 -104 104 -105 106 -106 105 -105¾ 106¼-107¾ 106 -106¾ 105 -107 General Electric........ 181¼ -lOO!J,t 185¾-189¾ 184%-192 171 -Hll 169 -177¼ 172¼-176¾ 172 -18~ 178 -186 178 -188 179 -190½ 181¼-190¾ tJ.174-187~ .... - ... .... .... 9!1( 9 ... .... Rlahta . ......... ........ . .... . .. ... ... . - .... ... . ... .... ... . ... .... .... ... G old & Stock Teleir'ph. 15¾- 19 18:J.(- 25½ 28¾- 24¾ 23¾- 30½ 28¼- 87½ 33¾- 88~ 15 - 17 15¾- 17 15 - 15 Havana Electric•........ · ••· 60 - 62½ .... - . .. 50 .. 61¾ 63 - 65¾ 65 - 74 70¾- 73 71¼- 77'¼ 75 - 793,(i 75¾- 82 Prt-t ....................... - ... ·•• · 110 -110 ... 105'-'{-106¾ 107 -107 . - ... .... H, B. Claflin Co .......... 100¾-100¾ 1013-9-102 97 - 97 .... . ... lstp1•ef ........... ........ ... · ••· · ••· ·•• · 94¾- 94¾ . ... .... .... - ... . ~d pref .................... ... 100¾-100¾ 101 -101 . · ••· - .... .... International Paper.... 20¼- 23% 20 - 23 21 - 25¼ 20¾- 24~ 18%- 21½ 18¼- 20 18¾- 20¼ 19¼- 22¼ 19¼- 23¼ 21¼- 24¾ 20¼- 24¾ 22¼- 25~ Pref ....................... . 76¼- 78½ 713¼- 78 76¼- 82 79 - 82¼ 7i3 - 79% 78¾- 79% 78 - 79¾ 78:1(- 80½ 78 - 80½ 78½- 82¾ 79 - 87% 83½- 88~ .... 60 - 85 70 - 75 66 - 72 57 - 65 48 - 5a 40 - 60¾ 65 - 60 International Power... 65 - 67 88 - 93¾ 92¾- 97½ .... 66 -100 27 - 29¼ 29½- 29½ 28 - 28 27 - 28¾ 2il¼- 30 26 - 29 lnternat~ Steam Pu mp. 37 - 89 37¾- 40% 39 - 89% 82 - 37¾ 29 - 32 27¼- 30 Pref ........................ 86¼- 87% 86¼- 87 85 - 88¼ 83¼- 88¾ 78¼- 831,(a 78¼- 81¼ 80 - 81¾ 82¼- 82¼ 82 - 85h. 81 - 85 81¼- 83 78¼- 82!,( Knick. Ice Chlcaaro) .... 10 - 10 12 - 13 13 - 20¼ 16¾- 21¾ 18 - 20¼ 19¼- 24)fi 24¾- 34.¾ 31!,4- 3!l½ 29¾- 32¾ 29 - 82% 28 - o8¼ 50¾- 63 73¼- 75¾ 74 - 74½ 72 - 76 76 - 80 75 - 76 Pref. ........... ............ 60 - 61 61%- 64 64 - 64 66 - 78 . Laclede Gas, St. Louis .... - .... 105 -105 .... - .... .... ... ··•· ... ~Pref................ ... . .... 105 -105 .. . . . ·•• · - .... .... . 100 -101 9 9 - ... 9 9 . . M anhattan Beach Co .. 9½- 9½ 12 - 14 10 - 12 - ... 8 - 18!1( M etropol'n !Securities.. 73 - 79¾ 77¼- 81½ 81 - 91 75¼- 88% 74¾- 79!1:i 76¼- 84 81 - 85¾ 81¼- 85¾ 79¼- 83¾ 76¾- 82¾ 68¾- 79¼ 71¼- 86¾ Metropolitan Street .. . 114¼-121¼ 115%-123¾ 121 -125¾ 115 -123% 114 -119¼ 117 -128 125 -131 126%-133 124 -129¾ 117¾-127¾ 114!,.(-125½ l!l7¼-130¾ .... - ... .... .... .. . ... .. . . M oDtreal L. H. & Pow, .... .... ···• ·••· 92¾- 92~ . ··•· 54 - 57¾ 54¼- 56¼ 55 - 58¼ 66¾- 69¼ National Biscuit......... ·-64¼= 60 - 63% 54¼- 62¼ 52 - 60 58¾- 62¾ 597,4- 66¾ 57 - 62 54¾- 60 -118 -115 112¾-114 110 113 -116 112 112¼-115 113¼-115¾ Pref............... ...... 115%-116~ 115¼-118 117 -120¾ 117¼-120 116:1(-119 117 -118½ 11 - 25!1.4 12¾- 16¼ 14¾'- 16¼ 14¼- 18 Nat, Enamel. & Stamp. 18¾- 22½ 19 - 26¼ 23¾- 25¼ 24 - 3lni 25 - 28½ 20 - 26¼ 22 - 27 15¼- 17¾ 80 - 90¼ 86 - 88¼ 86 - 90 89 - 91 Pref......................... 00 - 90 89½- 91 88 - 90 92 - 93 92 - 94 90¼- 92½ 86 - 91 88 - 88 National Lead Co ....... . 24¾- 27½ 26%- 89¾ 33¼- 47¼ 42¼- 51¾ 41¼- 49¾ 43 - ~7¾ 43¾- 47% 43¾,- 49½ 441-t;- 46¾ 45¼- 623,a 46¼- 74% 78¼- 89¾ Pref........................ 97¾-101¾, 101 -111¾ 102¼-111 105¼-110 104 -100 103 -104¾ 103;14-105½ 105 -105¼ 101¾-102½ 103¾-107 105 -109¾ 1!02¾-109¾ New York Air Brake .. 147 -169 l'.50 -154% 149 -169¾ 154 -161¾ 140 -154 146 -152 1'5¼-152 151¾-157" 151¾-165¼ 150 -162½ 159 -168¾ l&l -1'67¾ 28 - 28 .... N. Y, Dock ...... .'.......... 26¼-:- 26½ 23 - 27 23¼- 24 21~- 24 26¼- 26¼ 25¼- 27¾ 27 24: - 25 Pref ...................... 59 - 59¾ 60 - 63 69 - 66 69 - 61 61 - 62~ 63¾- 67½ 61¼- 67½ 67 - 75 72½- 77¼ - .... 7!l¼- 77¼ 76 - 79 .... 168¼-170 167 -167 168½-171 169:)4-170 . N, Y. & N.J. Teleph .... 167 -168¾ 170¾-172!,e 173 -174 170 -172 171¼-173¼ 167 -172½ .... - .... ... - . .... - .... . ................... .... ... - ... .... .. - ... - - . ... - .... . . ... - - ... . . -. - .... ... .... .... ... .. ... . .. - . .... . .... - ... .... . .... . - .... - .... . -. .... - .... .... - . .... - .... .... . - - - ... - .. - .... .. .... - -·· .... - .... - .... - .... - ... - .... ... ... - .... .... ... - .. ... - .... .... - .... .... -. -. .... .... .... .... -- .... .... .... - ... .... ... . ... ... - . .... - .... .... ... .. .... ... .... -. - . .... - .... - ... - .... - .... .... - .... ... .... .... .... .... -- .... .... ... .... - . ... .... . ... - ... ..... - .... ... ... - .... .... - .. - . .... - .... .... . - ... - .... - .... - .... - .... - .... .... ... - ... - .... - .... ... - .... - . .... - .... ... . - .... - .... - .... - .... - .... - .... - .... . - ... .... .... .... - .... - 56¾ .... .... - .... .... - .... .... - .... .... - .... .... - .... .... .... .... - . .... - .... .... - .... .... - .... ... .... .... ... ... . - .... - . - ~ - .... .... - .... - .... ... - ... .... - .... .... - .... - . .... - .... .... - .... ... - ... ... . - .... - ... - .... .... - ... - .... .... - .... -34" .... .. . - .... ................ ... .... - .... .... - . ... .... - .... .... - .... .... - .... .... - ·•• · ... - ... .... - .... ··•· - .... .... - .... 12%- 13¾ .. . - .... No. Am, Co., new ■ tock 98 -104 lOO!)d-105 100 -104 100 -107 97¼-108 97¾-100¾ 98 -101¼ 99 -108 9il¾-100 96 - 99 95¾-103 97 -102 Rllrh&a .... ................ .... - .... .... - . .. ¼- ¼ .. .. - .... .. .. - . .... .... . - .... .... - .... .... - . ... .... - . ... ... - ... .... - .. .... - . ... ,2 - 4.4¾ Pactftc Mall S, S ......... 42 422¼- 46 .... - .... .... - Rlaht■ - 49¼ 43¼- 48½ 43¼- 47¼ 38 - 46¼ 33 - 39¼ 37 - 44 Peoples' G,-L.& C., Ch . 105¾-108¾ 106%-109¾ 107%-114 102¾-115½ 97¼-110 9~-101:¼ Phlla. Rapid Transit .. .... .... .... 118¾-12!l 120½-132 123 -124 112¼-117 P, Lorillard, pret ... ... . 12~-122 .... - .... .... - .... ..... .... .... - .. ... Presl!led Steel Car ....... 33¼- 38!1-4 35¼- 39 36 - 41¾ 36 - 46¾ 34 - 40½ 36¼- 89½ Pref... . ............... ..... 88 - 92¾ 87 - 91¾ 87¾- 94½ 98½- 99¼ 90½- 96 90¼- 94 Pullman Co. (The) ...... 237 -243 242 -254 2!l2 -250% 2883,a-248¼ 230 -240 237 -240 Railway Steel-Sprlna .. 32 - 34~ 83½- 37 33 - 38 as~- 40¾ so - 36¾ 30¾- 33 Pref ............... . ..... 93 - 94½ 93½- 98 95¾- 98¼ 93¾- 97¾ 95¾-103¾ 95¾- 99 Repub. Iron & Steel. .. 15 - 17¾ 16 - 23% 18 - 23¾ 17¼- 24% 15¼- 19½ 16~- 20¼ Pref ........................ 67 - 71¾ 68¼- 87½ 76 - 83½ 71¾- 84¼ 68¾- 76 71½- 79 Rubber Goods Mfir .... 25¼- 28¼ 25 - 27¼ 21 - 34½ 29¼- 85¾ 29 - 38 81¾- 3i¾ l'ret ................... .... 94 - 95½ 95½- 99 95¼-105¾ 104 -109¼ 102 -109 100 -104¼ s loss-Sheffield St'I & I, 60 - 63½ 61 -118½ 83¼-108 80 -100 69¾- 84 70¼- 83½ Pret ....................... 100 -102½ 101¼-130 115 -115 104 -104 105:14-105:J,( 1 - 2 s tand. Rope & Twine.. !I(- 8 ¾- 1 ¼- 1% ¼- 1~ ¼· ¼ Texas Pac, Lapd Trust 37¼- 38 38½- 42½ 40 - 46¼ 4]¾- 45½ 40¾- 42 40¾- 43½ Third A venue .... ........ 129%-131 128 -134¾ 126¼-182¾ 12! -131% 125 -129 126 -132 Toledo Rys, & Light .... 22¼- 23 22¾- 26¼ 25¼- &I 30¾- 87¼ 31¾- 85 Si - 35 Twin City Rap. Tran ... 10.6 -109¼ 105 -108 107¼-115¾ 108 -122½ 108 -115¼ 109~-114¼ Pref: . ... .................... .... .. . 165¼-ll.\8 164 -151 153¾-157½ 160 -160 .Rlahts.... ................ .... ... . . ... .... .... ¾- ¾ ... . - ... .... - .... - - 42¼- 48¼ 44¾- 50¾ 4.5¼- 51½ 46¼- 53¾ 101 -106¾ 103¼-107½ 101!1(-lOi¾ 102:Hi-105¾ 100 -105~ 09 -109 .... - .... .... - ... ... - .... · ••· - .... .... - .... ... - ... .... - .... . .. - . . .... - ······· - .... .... - .. . .... - .... 38 - 43 42 - 4'7¾ 42 - 46 45 - 53¾ 47¾- 53½ 51¼- 58¾ 93¾- 95¾ 95 - 97¾ 05¼- 96¼ 96 -101½ 97 -101¼ 99 -10~ 239 -211¾ 240 -258 247¾-256 249 -257¼ 244 -252 2i5 -250 33 - 36¼ 85¾- 37¾ 35 - 48 9'2¼· 47¾ 46¾- 62¾ 58 - 63¾ 97 - 99½ 97 -101½ 98¼-105 102 -lOt 102¼-106 108 -105¼ 19¾- 21¼ 20¼- 22¾ 20 - 24¾ 23¼- 27¼ 23!,,i- 83¾ 32 - 36¼ 78¼- 84 87 - 95,11 92¾- 98¾ 92½-104 102¼-108 88 - 90 83¼- 35¼ 34¼- 35 34 - 39 36 - 38% 37 - 39 38¼- 4~ lO!l -104½ 106 -106½ 104 -lO!l 104 -105¼ 103¾-105 105 -106 80 - 87¾ 85¼- 93¼ 68¼- 95~ 69 - 73¾ 69¼- 95½ 86¾- 94:U 105 -107 107 -107½ 105 -105 110 -112 112¼-114¾ .. 1 2 ¾- 1 l¼- l¼ l¾ 1 · - 1¼ 1 42½- 43!,ti 42¾- 46½ 44 - 48¼ 47 - 48 48 - 65¼ 61¾- 66 126¾-131% 127 -129½ 126¾-128½ 124 -126 122 -123 120 -141 33¼- 35 3:1},(- 35¼ 31¾- 35 32¼- 35¼ 32¼- 38 32~- 33 110%-115 113¾-119¼ 115 -118¼ 115¾-119¾ ll!l -117 114 -118 . . . 160 -160 . - .... ¾- ¾ 9 - io% 9¾- 10% 10 - 14¼ 11 - 15¼ 9!1(- 13% ~-11¼ 9 - 11½ 10 - 11¾ 10 - 11¾. 11¾- 15¾ 12%- 15 13¾- 153' ~68 - 73~ 73 - 76½ 74¼- 79½ 76 - 82 7!l¾- 77¾ 69 - 74% 72½- 74¾ 78¾- 81 75¼- 80¼ 79 - 82¾ 79 - 82¼ 80 - 82¾ Onlted Fruit ............... 106¾-106~ 106½-114¼ . . United R y s. Inv. ot s.F. 21¼- 26 26¾- 39½ 87¼- 50 87 - 48¾ 89¾- 431,i 41¼- 6674 57¼- 66¼ 64%- 74 71½- 79¼ 75¼- 77¾ 76¼- 89% 87 - 92¾ Pref .... . ........ .......... 64¼- 72½ 72¾- 80 78 - 89 80 - 87 86 - 91¼ 90 - 92 90 - 91% SSM.- 9i3' 78 - Si¾ 79¼- 88 85¼- 87¾ 87¾- 90 ., Un. Ry ■• !St. L,, pref. . .. . 8(}:¼- 82 80 - 80½ 80½- 82 81 - 81% 81¼- 82½ 81¼- 85 83 - 85 . . U.S. Cast Ir. P ipe& F. 19%- 25¼ 24¾- 31½ 21%- 31 29:1:(- 3'>'% 27¼- 81¾ 28¾- 31 so - 32)4 29%- 82},( 29%- 81¾ 31½- 41 36¾- 4314 40¾- 4'8~ ~ 90 Pref..... ........... .. ... .. . 79¾- 86¾ 81 87 - 91¼ 00½- 97¾ PO - 95 90 - 94¾ 92¾- 9!¾ 91 - 9!l 90¾- 91¾ 91%- 97½ 92¾- 96¾ 91¾- 953' (J. S, Leather . . . ....... ... 12¼- 14¾ 12 - 14¾ 11¾-U 11 - 13 11¼- 13 11¼- 13¾ 12¼- l ~¾ 18 - 18!X, 12!,r 18 12%- 16 14¼- 14¾ 14 - 15 Pref............. .... .. ... . .. lOQ¾-102¼ 102}4-106:J,(?03.¼i-109¼ 107¾-1(•9½ 106 -107½ 107 -108¾ 1087,a-lll¾ 110~-111 109¼-lll¾ 111 -115¾ 117¾-119 115¾-ll'SJfi . . .... - .... n~~~. ~~~ ~~~~~:::: o: https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis .... - .... - . .. .. - .... - . .... - .... .... .... - .... ... - ... - - ... - ... .... .... -- .... .... .... - .... .... - ... ... .... ... - .... ... - .... .... . ... - .... .... - .... ... - .... ... ..... .... .... .... .... - .... .... - ..... .... ·•· · .... - .... .. - ... .... - .. . .... - .... ~ .. - .... .. - . I RAILROAD AND MISCELLANEOUS STOCKS. 111 1906-Concluded. STOCKS. JA.NUARY FJ:BB'RY.. KARCH. APRIL. MAY. JUNL JULY. AUGUST. 8:sFT'BBR. 0CTOBBB. Nov'B:im. DBO'BEII. Low.Hl,rh Low.Htirh Low.High Low.High Low.High Low.High Low,Htirb Low.Hl.rh Low.High Low.High Low.Hiith Low.Higb u. ~. Leatber-(C'on,)- ---- ---- ---- .... .... 11,rl.2't 11 - 14¼ 1134- u~ l<>Jr 12½ 11 - u. 1~-1~ .... - .... .... - ... .... - .... .... - .... .... - .... .... -- ... 103¾-106¾ 108'-'-l<>'™ 107 -110 106 -1~ 107U,-lll~ lllM-lU. .... - .... .... - .... - .... - .... .... - .... 81M- 91 89 - 933-fi 88 89 - 9J 89 - OS 9tS~ MM- 90 893'- 94M 87 - 91 sti~- 893,jj Si - 87¾ Si - 91 .... - ... 18 - 18 22¼- 29 27~-- '°~ 2n<r-31!1( 27M- SO¾ 29 26~- 38 2d¾-3~ 29*MM Sl - 353' 28M- 32 Tru•t Co. ctt ■ .••.• .•.••• . l"ret. Tru ■t Co. clt ■ .•.. U. ti. Realty & lmpt .... 77 - 82 U. ~. Reduc. & Reftn's, Pref.... ................... . 35 - S5 U. S. Rubber Co ........ . ~-~ 1 ■ t pret ................... 98¾-101¼ pref............. ..... U. S. Steel Corpora lion 28¼- 81¼ Pret.. ..... . ................. 91~- 95!1( Va.-Car. Chemical ...... 82½- 89 Pret.. ..................... . 105 -109½ Vulcan Detlnnlns..... .. . ~-10¼ Pret ............. . .. ....... .... - .... Western Onion Tel'sh .. 92 - 95¾ Westinsh. El.Mfs.a•s't 176 -188,½ 1st pret................... . 191 -193¾ .... - .... ,o 41 -~ 55 - 70½ 56¼- 68¼ 60 • 67!1( 66 - 70 68¼- 73¼ 663'- 73 64¼- 72}:( 64!-(- 73 6~36¼- 4!3- 43¾ 363'- '5½ 35~ '23' 36¼- ,1¼ ,o - 523' 51 - 55 UM-~ 503'- 57 4~57 ,~ts 100 -115 109¼-115 102 -1183' lOi -111 101~109½ 1063'-118½ 109½-111~ 108 -lU¾ 1()9%-ll2 1053'-112¼ 1083,i(-ll .... - .... .... - .... .... - .... .... - .... .... - .... .... - .... .... - .... .... - .... .... - ..... .... - .... 75 - 81 79 - "ca so .:~ 88~- 87¾ 93¾- 97¼ 88 - 87!1( 105~-1083' 10 - 10½ 8°"- 88¼ 95§.(-lOi¾ 84 - 88 105 -108½ 8 - 14½ 49 - 52 . 92¾· 9!¾ 92¾- 94~ 9~- 94¼ 178 -182 180 -183 170 -184 19-> -190 192 -192 190 -197 9~- 96 88¾- 89 106¼-110 8¼- \J¾ .... ... - ... .... 2'¼- SiM- 87~ Si~- 88¼ 87 - 89~ 853,(-38¼ 86 - ,s 103~105':( 101%-105¾ lOS¾-105~ lOOi(-105¾ 10t*l07 8214- 85 28':(- 33 813'- 84!¼ 82¼- 41~- 899:(105 -108 105¼-109 106 -108 107¼-113 112¾·11 10 - 11½ 11¾- 11¼ 9¾- 10 - . 10 - 10 50 - 52 - . . - . 92~- 95,½ 92¾- 98¼ 93¾- 9i¾ 93 - 94~ 92~- ~ 92¼- 93~ 92 - 98 166 -169 162)6-171 168 -171½ 166 -170 168 -177 167,½-179 170 -177 190 -191 . . 195 -195 lW¼-197 190 -192 1873'-190 - 25~- 82}:( 91 -100 83 - 8(% 107 -109¼ 12 - 12,i' 88!,,( 9~-101~ 81%-85¾ 103~·10734 12¾- 127/4 5iM• 54¾ 92 - 98,½ 15a -172½ .... 81¼- 3~ 98ff-10i 88!4- 87½ lOi¾-109 .... ... .... .. ... - ... ... ... - .... - ... ... .... .... ... .... - .... .... - .... ... 1906. STOCKS. J.ANUARY FEBR'RY. MARCH. APRIL. JUNE. MAY. JULY. ---- ---- AUGUST. SR'PT'BER. OCTOBER. Nov'BER. DEC'BER. ---- Low.High Low.High Low .High Low.High Low.High Low.High Low.Hi~b I,ow.Hlgb Low.High Low.High Low.High Low.High ---- ---- ---- ---- - - - .... - .... . ... - .... ··•· - ... . . ... 87¾- 91:)1. RAILROADS. . .. ... , .... 80 - 80 Ann Arbor.................. .... - .... .. - ... .... - .... - ... . .... - .... . .. 85¾- 92,lt. 9t¾·l0~ 104 -110½ 99½-109 9i¼-10i:Jti 100¾-lNi'¼ .\.tchlson Top. & S. Fe . . 89 - 96½ 8S-Ji- 93h, 88¾- 95 87¾- 95~ 85¾- 91¼ 99M-103 98}4-100½ 1001'-101~ 100 -101½ 100¼-101:¼ 10<».(-102 98 -102¼ Pret ....................... . lOl¾-106 102)4 -104¼ 102 -104¼ 100 -101X! 9!1~-103 - ... · ••· - .. .... - ... .. - ... ... - .... .... - • · . .. - ... . ... - . ... ¼- ¼ ¼· ~ ¼- ¼ Rlirhts..................... .... - . .. . Atlo.n. Coe.•t Line RR. 157 -16i% 167¼-165¾ 15! -162 138 -157 187¼-H7!1,t 13!3,(-149).\ 131¼·141¾ 141 -149>. 183½-146 135 -142½ 183 -HO¼ 181½-188)9 .. - . .. 4~ - 5¾ 4¼· 5% 8¾- 4 .. - .. . . ... - . . .... - .... .... - ... . - . Rlaihts ................... .... - . Bo.hi more & Ohio ....... 112}4-117 109%-116¼ l08J>a-112¼ 106 -115 10~4-109 l0:~-119¾ 115 -121¾ 116 -122:h, 117~ 125¼ 116¾-121:/4 116¾-120¾ 117¼-121% 96 - 9ix, 94~- 98 923'- 95}'1 112 - 94½ 92 - IM¼ 92½- 113 98 - 99½ 117 - 9g 01%- 114 91 - 9lx 91 - 92½ 9!)4- 113¼ Pref - •·· . - ... .... ... ... . . .... - .. . .. . IUghts ........ ¾· % %- 1 .... - .... . .... .... .... 112 -114 . - .... .... - . "ubscrlptlon certt's · ••· -110 .... 110 ... .... ... .. . .... . ... ... .... - ... - ... - .. Bos. & N. ¥. A.L •• pref . - ·•• · · ••· 124 140 -144 . -128 -150 . . ... 150 153!,g-168.½ 126 -Ho~ . Buff. Roch. & PlttBb ... 158 -168 ... . . ... .. . .... - .... .... - . .. . . Pref ....... ................ .... - ... .. . 189½-141 t48 -150 ··• · .... - . . - .... ... - ... . . ... .... . ... ~-83½ .... .. - .. ·••· ... . . ... - . ... .. . - ... Buffalo & Su•q., pref •.. 83 - 86¾ 85 - 87 85 - 85 85 - 85 .... 169 -177:¾ 168 -175¼ 167~-17:l¾ 156 -174% 155%-161¾ 158 -162~ 157¾-166 164¾-179¼ 178¼-188 1'72¼'-183¾ 172¾-182~ 182¾-201¼ Co.no.dlo.n Pacific. .. .. 155)4-158 -155 l63 -174 153¾ -161 155 .... .... .... . ... 176 -179 181¾-181¼ 178¼-182 190¾-190)4 Subscrlptton rects .... ·•• · .... - ... 11½- 12¼ 11¼- 12 . . - ·•• · . .... .... - .... ... .. ··• Rtarhts ................... 69 - 70y,. 68 - 68¾ 67¼- 611¼ 66¾- 67½ 66)4- 69¼ 65¼· 6Sh, 68 - 68'~ 66 - 6~ 65¼- 66~ 66 - 68 f>6½- 69~ . 66%- 67¼ Canada Southern ...... Centro.I ot New Jersey 222 -231½ 212 -225 213 -219 i05 -222½ 204 -239J.f. 218 -287-Y.t 220 -227½ 2 . 9 -232 228 -233¾ 221 -231 217 -230¾,212 -228 Chesapeake & Ohio .... 54%- 6274 55¼- 60~ 6t~- 69)< 53¼- 60~ 53¼- 69!>!, 65½- 59% 51¾{- 5~ 58½- 6 5% 62½- 65 66¾- 63~ 61½ - 56),,j 51~- 61 3) - 8\1}.. - .. . .... - .... 25¼- 8211! 29 - 85½ 29½- 8 2:¾ 26¼ · 81¼ Chicaaro & Alton ..... .... 80 - 38 . 80 - 82¾, 81¼- 81½ 30)4- 85 25 - 80 76)4- 78¾ .... - .. 753'- 75½ 75½- 77¼ 75 - 76)1 ', O - ~6 Pref ...................... 74¼- 80¾ ~9 - 79½ 78}4- 76¾ 74½- 7tl½ 74 - 77 .... 205 -205 207¼-207¼ 207 -207 207 -22\l .... .... - ... . 202 -202 ... . ... . .... . Chic. Burl. & Quincy .. .... ... .... ·•• · 126~-126½, .... .... - ... . .. - . 126 -125 . - ... ... .... Chic. & E.Illlnois, prel. .... - .... Chico.so Great West ... . 2~- 28~ 20½- 28 20½- 21¾ 18}:(- 22,lq 17¼- 20½ 16 - 19½, 16~- 18¼ 17%- 19x, 17~- 18% 17¼- HI.½ 17 - 18¾ 17¼ - 18:J2 4 per cent debenture.. 85¾- 86~ 85 - 86½ 8!!,4- 85 84 - 84 83 - Su% 80½- 80 80 - 80½ 79¾- 82% 79½- 82¼ 80 - BJ½ 79½- 81 t:ll - 81 :S p. c. pref., A .......... 75 - 80 7o½- so 76 - 80 75¾- 7~ 74¾- 78¼ 74¾- 77 72¼- ~5\ol 76 - 77¾ 74 - 76¼ 74 - 75 71~- 73!,{ 70 - 72 38 - 88 81%- 36% 25~- 81¼. 25 - 26¾ 26 - 28¾ 25¾- 28 25~- 27% 24¼ · 27h 2i¼- 26¾ 4 p. c. pref., B ..... .. ... 84¼- 39h 86~- 89¼ 85¾- 88 Ohle. Mllw. & St. Paul. 179;14-193 176¾-188½ 172½-179% 162½-179,½ 15o¾-171¾ ltlll¾-182¼ 167¼-182¼ 0174¼-93¼ 170 -188 168¾-171-l¾ l69¼-189½ ;1461,f-99¼ P1•ef ....................... . 190 -1913 190 -190½ 182½-185½ HU -185½ 177,½-181 181 -191 182 -191 193 -218 193 -199 190 -196 l88 -207 ; LOO -210 li'i¼- 18 16¼- 18~ .... ... · ••· ... .... .... - .... .... - ·•• · . .. . .. . 31 ~ · 353' Riahts .... ................ . ... . . ... . . . ... . ... . - .... Subscrlp. warrant ■ .. .... - .. . . - . .. . f32½ 33¼ Chic. & Northwel!lt ...... 220 -240 225½-289i-t 221 -2J8 192 -215 194~-207 19:; -209¼ 198 -202,½ 202 -215 205½·215¼ 201¼-213¼ :WO -209¾ lilt -211 225 -289 282 -24·) 235 -2¼4 235 -287 2;,0 -238.!ii Pret ........................ . 250 -257 265 -257 253 -270 235 -250 230 -240 230 -238 ... . - ·•··• - .. . - ..... .. - .... 18 - 22¾ 19~- 19¼ . Rights .................... . .... - ... 150 -150 ... - .... ... - . ... ... . .... Chic. R. I. & Pacific .... - ... .... .. . ... 177¼-18! -170 -181 l80 -180 175 -175 ' 180 -1"0 -168 lo8 175 188 -ltt4½ 168 186,½-194 175 -184¼ 171 190 -198 -179¾ Chic. St. Paul M. & 0 .. . . ... 176 -176 180 -180 1a1 -186 187 -18:l 178 -1,3 175 -11';0 lol -181 Pret ........ ..... .......... 200¼-20J 190 -Hi5 188¼-189 189 -189 13 - 13 11 - 11¼ 11 - 11 12 - 12 10¼- 12 12 - 14 9'-'· 11~ 11¼· 12,½ 12¼- 14 Chic. Term'l Tran•fer .. 18 • 18¼ 12 - 16¾ 11 - 14 26 - ~ti 25 - 25 2, %- 2:!% 29 - 83 28,½- 28¾ 26 - 2 , 28 - 34 28¾- 82 27 - 29 28%- 29 Pret·....................... . 86 - 42¾ 28 - 41 96 92¾98Xi 91¼SJ - 98!1! 92 92 92~- 95¾ - 117~& - 99¼ 00½- 95½ 95 -10~¾ 90)4- 99 Olev. ctn. Chic. & St.L. 105 -109% 100 -1061,f, 96 -103 113½-llS!H, 112¼-112)1 -110 110 113½-114 ... 110 -113½ 112~-113% Pref....................... 118 -118 115%-117 115%-11~ 115 -115 112 -112 .... .... - . .. . . - . .. . - .. . ¼- ¼ .... .... ... . ... - . .. . Rhtht ■ ................. .. - ... .... - .. . ·•• · ·· •· . .. .. . .... . 95 - 96 90 - 90 96~-100 .... ... 85 - 95 90 - 92 Cleve. Lor. & Wheel .. 85 - 90 . ... 105 -105 . ... 110 -110 .... - .... .... t05 -105 . . .... Pref....................... 112 -112 •· ..... .... l78 -178 .... -176 . ... 17d .... . .. .. . . ... .... 175½-175½ . .. Cleve. & Plttsb. iruo.r . . .... - . .. · ••· ·••· 36~- 88¾ 85¼- 87¾ 36¼- 40¼ 36¾- 30½ 85 - 88'¼, 81~- 86 80 - 841k, 33 - 841,s 81¼- 87 Colorado & Southern . . 29¼- 87 32½- 3, % 82¼· 86 1st pref................... . 68 - 72¾ 70%- 731-,. 69¼- 72½ 66½- 72!}i. 66¾- 70½ 67 - 70¾ 67 - 70¾ 681}.(- 71% 67¼- 69½ 67½- 69'?t, 63 - 69½ 66¾- 69½. 47 - 52¾ 45 - 62!1,i 60 - 63?-B 49 - 51 ¼ 60¾- 5b~ 55½- 6711 65 - 59 !1.8 - 51¾ 47 - 51~ 43 - 49 53 - 5(3¾ 50½- 64 ~d pret . .. . .. . .... 77 - f-0 69 - 69 . Cripple Creek Central . - . . . .... - .... .... - .. . ... - . .. . ... - . ... ··• · .... .... .... Delaware & Hudson ... 217¾·229 ,, b204-219½ 202 -209¾ 190 -215 189 -215 209¼-231 205 -221½ 216 -22:j 214 -22J¾ !14)4-226¼ 213¼-284¾ 215½-282 ... . .... ... . . .. . ... . .... . ... ... . ... .. . .... RlshtB............. .. .... - .. . 2 2!k, 2 - 2% ··•· .. . .... - ... Del. Lack. & We8tern . . 459 -472½ 460 -474¾ 440¼-450 438 -!1.55 437¾-56:> 522 -550 490 -550 500¼-580 540 -5'5 55U -554½. 542 -5n5 $15 -515 4t - 45% 41¾- 4t¼ 89 - 43¾ 39 - 4:3~ 41 - 43¾ 42!,fi- 4·1.½, 4U - 41¾ 86¾- 44'½ Sil¼- 47¾ 37%- 4! Denver & Rio Grande . . 88 - 61 % 42¼- 5·1 84 - 87!k, 85 - 80 b3 - 85;¼ 83¼- 8tl½; 83½- 86 . 85½- 811¼ 88½- 85 Pret ............... ........ 67 - 91 ½ 87¾- 90½ 06¼- 88¼ 85 - 90½ 84¾- 81:l ... - ... - • · ... - .. ... - ... 21 - 22~ . - . ... 14 - 14 18 - 20 '.. .. - ... : De8 Mo. & Ft. Doda-e.. . 23 - 23}<. 20 - 20 .. .: ... . .... .. .,- . .. . .. ..... .. 98½98x, ... ... . ... . .. .. - •· · ... - .. .. - .. . .. Det. & Mackinac, pref. ... ,. . 7 7 8 - 8 . -· Det. So., vot. tr. ctts . . . 10 - 11 10 - 10½ 9¾- 9¾ 9½- 9½ 9½- 9½ - ... ... - .... 8 - 9¾ . .... ... ... - ... . ... - . ... ... 33 - 83 ... - .. . 27 - 80 .. Pret. votlna- tr. ctfs ... . 84 - 35 .... 17¾- 20% 18¼- 20¼ 17 - 19½ 16½- 19¾ 17¼- 21¾ 16%- 22J.i 17¾ - 21¾ 16¼- 19x 16¼- 19¾ 16 - 18 Duluth So. Sh. &Atl .. . 19¼- 22% 18¾- 21 3; - 4l >t 37¼- 42¾ 87 - 42~ 37½- 40¾ 37 - 42 82 - 43½ w - SY:k, 86 - 89½ 3J7,{- 88 89½- 45 37 - 43'¼ 86 - 43 Pret ...................... 41¼- 46 41%- !1.61' i2¾4 7½ 45 - !1.9½ 43 - 49 38½43½ 40 - 46¾ 39¼· 45}11 88¼ - 47 Erle_., ...... ................ 46%- 60¾ 41¾- 48¾ 41¼- 45 77¼- 79% 76¾,- 78¼ 7o¼- 77¾ 75½- 7d}1 74¾- 76:ui 77 - 80),4 76 - 79'¼ 75,½- 79¾ 75 - oO¾ 77 - 7tl% 75%- 79 1st pref. .. ................ . 80 - 83 64¾- iO¾ 69¾- 72¾ 63)4- 7JlJ1, 6tlJ;i- 71 , 6tl½- 6,~.. 64½- 68 62¼- 72½ 67 - 72 2d pref .................. . 73 - 7tl¾ 67 - 1, 66¼- 70¾ 62½- 71 .... . ... .... . ... 70 - 75 r · · • - . ... 70 - 70 Oo - 7 .... . . .. 76 - 76 .... Evansville & T. Haute . 76 - 76 .... - ... ... 90 - 9i .... 89 - 89 - .... . 80 - 92 90 - 90 ... . Pret ....................... . - ... 88 - 88 , .... - .... · • - . ... .... . ... . ... .... ·•·· .... 74 - 74 .... . ... Ft. Worth & Den. City .... Great Northern, pret.. . . 283 -326% 305¼-848 308½·827 282 -827½ 275 -80i¾ 2 :83'-809 275 -298¼ 298¼-SM ,324 -8-H 314 -830},; 314 -383~ d1.' -820 .... .. . ... . · ••· - . ... Sub. rect•• 1st paid ... i 95 -295 . · •• . 7~ - 8ti .... . . .... .... .. . .... .... .... .. . .... - . ... Ore certlflco.le ■ .... . . .. . .... ··•· - .... - ... . 86 - 86 . - . ... ... - .... 813'Green B. & W .-!!!!er. A 92½- 92Xi 12 15 17 11¾20!,,i 18 - 14 17 16 17 19 - 70½ Deben. certs., l!Jer. B . 19¼- 23~ 20:>.(- 21¾ 19½- 20¼ li¾- 20}-.a 17 - 19¼ ... ~ -123 Hocklnir Valley . . ... ... ll4J.fi-ll9 113¼-115 t137-1i-124 124 -185 128 -180½ 121 -184 126 -126½ · ••· - . .. 1183' 118½ Pref .... ................ ... 9i½- 95¾ 9! - 95½ 98½- 96¾ 91½- 98>t 93 - 9,3½ 95½- 99~ 9t¾· 95¼ 96 - 98 93%- 95 93¾- 95 92½- 04J<i 937,(- 94 Illinois Central .......... 174 -1~2 160 -179¾ 165 -172¾ 165:1,(-176¼ 164 -182 174½-184½ 171~-180 178½-178½ 171¼-177 171¼-177 L72¼-180 165 -176 99¾-100½ 10.2¾ 102¾ . .. .... 100!,a-100}4 Leaaed lines stock. ... 104!':(-104~ 103¾-105 108¼-103½ 1033'-lOS½ 104}9-10!¾ 26M- 81¼ 293'- 81¾ 2S - 31% 27 - 30% 29 - SOM 2' - 27 Iowa Central .... ......... ~0%- St¾ so - ::i4¾ 80 - 82!,( 26 - 81% 24¾- 2S 24¼- 29 !1.9 - 53 50 - 55¼ 48 - 62¼ 51 - 53J.jj 49¼- 52'4 50 -M¾ 4'9¾- 62¾ 49¼- 623,a Pret ................. . . 5~:3Ji, 57 - 6 ;¼ 56 - 59¼ - 61 - 60 - - ... ... ~ .. ... ... .. ...................... ........... .... - ... .... .... .... - ..... - .. - ... ... - ... .... .... ... - .... .... ... - - - .... - ... - .... ... ... ... - ... .... .. .. .. .. .. - .... ... - .... ... ... - - ... - ... .... - .. .... ... .. - ... - .... - ... - - ... - ... - ·•·· -- .... .... ·•·· ... . .... ... .. .. - .... ... ... - .... ... ~ .... ... - ... .... - .. - ... .... - .... - . .... - .... ... ... . .... - .... .... - ················ .... ... ... - https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis - - ... - - - ... .... -.. - ... ... .... .... .... - - - ... ... ... ... -- .... .... - .... - .. - .. . - ... ... .... .. - .... - .... - .. .... ... -- .... - - - .... ... ... ... ... ... ... -- .... ·•·· -- ... - .... .. ... - .... .... .. - .... .. .... - ... .... - .... - t lilx -r1gbts. ... - .... - .... 'f 1st installmen.t paid. .. ·- - .. .. ... - .. ... ... - . - ... ~ ... - .... - ... .... . ... .... ... .... . - ..... - .... ... - ... . - ... ... - - - - .... ... .... .... ... - .... .. - .... - - ... ... ... ... - ... .... - ... .... - ... ... ... - ... .... .... .... .. .... ... - .... .... .. ... - .... .... ... - .... .. ... .... ... ... - ... .. - ... .... - .... . .... - .... - .... .... - ... .... - ... .... - .... - . .... .. .... .... - .... ... - ... - .... ... -. .... .. .... ... .. - ... .... - .... . .. - ..... ... - ... - .... .. - .. .... it - .... - cl Ex ore cen111::ates. RAILROAD AND MISC-ELLANEOUS -STOCKS. 112 1906-<'ontinued. ,IANUARY FEBR'RY. MA.ROH. APRIL. MAY. JUNE. JULY. AUGUST. SEPT'RF.R. 0CTORVR. Vov'BER. - - - - - - - - - - - - - - -· - - -· ---- - - -- - - - - - - - - - - - - - ---- ---- ------- ---- - - f(I - 71 62 - 63½ 67 - 72¼ 65 - 65 57 - 65¾ 56 - 75½ es - 70 56 - 58 52 - 58 5~56 STOCKS. ,. DEO'Bl!:R, f,ow.Hig b Low , Hlgb r,ow.Higb Low;. Illgh 1,ow.Higb 1..ow. Ilhrh Low.High Low.High Low.High Low.High Low.High r,ow.Ht11b li.o.no.wba & l't'Ilchliro.n. 8~- 82¾ 81 - 81 K ,C. F. S,& M. t. ctfs.pf. 82 - 83-U 83 - 84½ 82 - 81 Kan8o.s City Southern. so - 37¾ 28¾-83¾ 28 - 20¾ 24½- 29!,a 2 1¼- 26½ 50 - 54. 62 - 69 60 - 71 Pref. ....... . 59¼- 68~ 67!)4- 60 ... . ... .. . - ... 14 - 14 . ... .... Keok . & Des Moines.... ... ... ... ... - ... . .... Pref........................ 6 - l O'A .... - .... ... - .... K , nir ■ ton & Pembroke. ·•· · 7 - 10 3-1 - 40.¼ 33 - 8~11; 32 - 38½, Lake Erie & Western ... 88 - 44¾ 84~- 38 90 - 90 4 - 84. t:8 - 90 Pret·-······················ 92¼- 92¾ 88 - 92 300 -300 :Lake Shore .... ............ - ... ... - ... 70 - 7.3½ 69¼- 7:.l½ Lonir Jslo.nd ............ .. 67¾- 81~ 74 - 76¾ 'iO - 'i3 Loulsvtlle & Nashville. 148¾-156½ l45½-152¾ 14¼ -15 :~ 41¼-I52}f 1: 6¼-14.8!):j 1 ,5 -162 159¾ -159x. -161 155 .ll o.nhntto.n Elevated .... 150*157 147)4 U4 18¾- 23~ .Jlextco.n Centro.I ...... .. 243' - 26¾ 2;J¾- 26½ 23¼ - 25¼ 19),(- 26 l'l lchl:ian Centro.I ........ 143 -147 142 -149 110 - 14~½ - .... . .. - . . 75 - 77½ 69 - 73 -:tlinueo.p. & St. Louis .. so - 84¼ 75 - 79½ 73¼- 77 l're t. ....... . .. .. . ........ . 100 -lOO'A 97 - 99¼ 93¾- 93'2 90 - 97 92¼- 94½ 141~-163 50),(-159 . -160 145)4-159 15J 148 -164 Wllnn. St. P. & S.S. DI .. P1·et ....... ................ 173 -1~ 171 -177~ 170 -177½ Ltl3½-l'i4¼ ,64 -175 :O¼- 36¼ 29 - 85~ .!ti o . Ko.nso.s & Texas ... 36 - 40~ 33¾- 37¾ 33 - Sd Pret. . .. ... . ... .... ....... .. ~-74:k, 68 - 71½ 68 - 72'.h, 61¼- 73~ 64'¾- e9½ .l'tlts ourl Pacific ......... . 99¾-106¾ 98¼-10374 93 -100~ 83;.- 98¾ 85¾- 95¼ ... . 189}4-189ll:( 111 orris & Essex .... ....... .... - . .. .... 188¾ lf.8}.! .... "No.shv. Chott. & St. L .. 147 -HOx 14.2 -145 146),(- U~ 14 0 -142 138 -1!1.4 :36 - 39¾ 3d - so~ Nnt 'l oJ Mexico-Pref ... 38 - 40},. 37¾- 40½ SS¾- 4l ~d pref ............... . ... 20½- 21¾ 20¼- 211}.f Hil)ji- 20% 20 - 21 20¼- 21 ~.\' . Cent. & Bud. Riv. 14i %-156!,( l45½-153;!1 141¼-148)1. LS~ -146!,t l30¼-142¾ Hlaht s . ...... . ... ..... .. .. 6¼- 7¼ ... - .... .... - .. . ... - . .. ... - . . 63¼- 73.!,t fS - 70¾ 69 - 72 N. Y. Ville. &St. Louis . 6 ~~- 72½ 63 - 70 ... lat pret .......... ...... .. . 119 -1~0~ ... ... 111 -lH 114 -114 80 - 87 2d pref................ , .. . 88 - 91¾ 82 - 84 81 - 87¾ 851tJ- 89 . .. N. Y. Lack. & Weat . .... .... - ... ... - .. .. - .. 1P7 -204% 199 -202¾ 198 -20'?½ 1951):(-200¼ L94¾-H7:¾ N. Y.N.Haven&Ho.rtt. N. Y. Onto.rlo & West .. . f:l},(- 577-1 40 - 55:k; 48¾- 51~ 45¼- 63¼ 43~ - 53 Norfolk & Western ..... 85 - 93).\ 84 - 93~ 84~- &¾ 85¾- 91¾ 84\i- 90¾ 113¼- 06 91¼- 92 90¼- 92½ f:9¼- 91¼ 90 - 91'.h< Pref. . .... .. ... .... .. . - ... lliortbern Cen u ·o.l ..... . .... - . .. .... - .. .. . Hl9 -2ll¼ 205¼-232½ 206¼-223:14 WS½-223 179},(-211'.h, Nort · crn Pacific ........ Po.clO c Con8t Co ......... . 103 -123 112 -1:.!0¼ 109¼-117½ 114 -137 123 -140 ... - .... · ••· ... . .... - .... .... 1 st pref .. . .. .............. . 105 -108 05¼-122¾ 117 -117 :.?ti pret.. ... ... ... 118 -134¼ 122 -rn5 ············ f>enn1,1ylvo.nlo. RR .. . ... . ,42 -147½ 137¾-1«¼ lS6~ -J39~ 135¾-U.3¾ 131 -137¾ 83 - 4 , ¾ 33 - 37¼ 33½- 88 Peoria & l!:n.stern .. ..... 40 - 4d½ SJ - 40 l'ere ~lo.rquette-Pret. .... - . .. 55 - 55 - ... ... - . .. . .. .. - . 78 - ES 75 - 85½ 80 - 83 78¼- 80 Plfts. Cinn. Ch. & St.L 83¼- 87 Pret ..................... 106 -103¼ 1()7¼-107½ 105 -105 lt5 -105 100 -108½ Pitt8. Ft. W. & Cb., iru 182 -182 - ... l82 -182 176 -176 176 -176 Ro.l l road S ecurltle11, 95 - 96 96 - 97½ .... Ill., ent. stk . tr. ctts .. 96 - 98 96¼- 97 ............ .... .... .... -- .... .... - - - .... - .... .... - .... .... - ........ .... - - .. - .... - - .... - .... Ren.din g .....•.•.•.•••..... 134~-164 184¾-144~ 125 -137 120 -140 112 -142H, 91 - 92x 92 - 94~ 89¾- 92 89¾- 92 1st p ref .. ................. 9i ¾- 96 90 - 98¾ 90 - 98¼ 97¼- 9:1 ~d pret. .... .......... ... . IJ6½-10.t 99},(-101 Rensselaer & So.ro.toir . 208)i-209½ .... - ... ... - ... . ·· • - ... .... - ... . Rock blond Co ..... .... 23¾- 26~ 24¼- 28¼ 26¾- 28¼ 24~- 28~ 23¼- 26½ ......... 61¼- 65½ 64 - 6 i ~ 65¾- 6:3~ 6t¼- 68½ 61¾- 65 Pref ....... .... - ... 13! -138 ... - .... 130 -130 Rom e Wot. & Oirdena .. .... - . . ... - .... ... ... .... - .... ... .... . Rutlund, pret. .. ........ . 21 - 25 23 - 24 20 - 21 22 - 23 St. Jo s . & Gr. bland .. rn - 27 63 - OJ½ 60 - 6! 65 - 66 62¼- 69¼ 61'1 - 69 l8t pref.... ......... 34 - s,x 33 - 86 2d pret..........•........ . . 35 - 40 33 - 89 30 - 33 60 - nx 66 - 63¾ 66 - 72¾ 70 - 70 St. L. & S.Fr •• 1st prel ... 45 - 51¼ 45 - 4S¾ 43 - 49~ 41 - 47 !old preJ ...... .. .... ••..... 45¾- 49 .... .... · ••· - . {). & K.111. stk.tr.ctfl!I, 190 -190 ... .... -135 ... . .... 129 Pret.atock trust cUs. .. ... ... . ... ... . ... New i.tock trust ctfs. ··• - St. Loub !Soutbweat'n. 20¾- 2'i'h 21 - 26~ 22¾- 2! l 21~- 24½ 20¾- 23¼ Pret. ................ 53 - 61½ 55 - 59h 54¾- 67;1,, 49 - 57x 48¾- 56~ . - ... - - ... .... .... - .... .... - . - ... - ... .... - ............... 35¾- 42¼ Si¾- 42·, 99 -1021.l 99¾- 99x 65¾- 72-U, 6!¼- 6~ 117¼-llSh 117 -118);,j 32~- 39¾ 83½- 87),4 35 - 40,s 36 - 38 5J - 59¼ 51¼- 58_!.:t 148 -160½ 148¾-15ti¾ 97 - VO¾ 95¼- 9~ LOO -103 ... .. - ... . .... EXPRE~S. 246 Adams . . .................... • merlcan ..... ............. 222 -249~ 234 :lted State& ............. 124. -138¼ 121 1119 Fariro & Co . .... fUO -2'8 240 .... - .... COAL & MINING. mo.lira 1ated Copper .. oal. . . ....... . A erlca. pper ..... Anaconda Col ro.do Fu &Iron .. - ... 2.)~- 2ilx, 22 - 25.½, 40¼- 4S~ ~ - 5:J~ 88 - 41 Y-t 3~ - 42 17¾- 20!+ 19 - 21~ H1'- 47~ 44½- 48),,,, :t5:1,4- 28M 25¼- 21)~ 26¼- 29¼ ~ - 83 65),(- 69 68 - 64 -249 -249 -129 -245 37¼- 41~ 86 - 41~ 9Q¾-10~;,. 98¾-102¼ '16 - oo~. 933,r 96 64:}ji- 69 >-, 627,-i - 70½ llil.4-118 ll'i!,4-1181,.a 82:U- t!4h, 28~- 81~ 3.'l~- 36" 34>4- 86.!,t 64 - 65!~ 51!,s- 5 t3¾ 149¼-157¼ l4!l,4-169¾ 116 - oo,. _ 03 - 96 8~¾- Bl 8-1¼- Six 22 - 28 19 - 28¼ 48 - 62¼ HJ.(- 51 88 - SJ 8> - sg 18¼- 2\19-_, 16 - 20 42¼- 45 ~ 37 - 45 22 - 27 26¼ - 26 25%- 2~~ t 3¼- 29¾ 65 - 67~ 44¼- 58),( 248 2:lO 115 23S -250 -235 -116 -240 250 -250 .'.15 -285 ,10 -121 242¼-260 .... - ... .40 -144),{ 37 - :'19¼ 1'3¼- 19 130¼-14~¼ ·• - lB¼-14!¼ 147¼ -140½ 19 - 21¾ 60 -2t0 tl4 - 6d 9l½- 92½ 150 -154 170 -lilll:( 31 - 31¼ 0.3~- 69½ s ·¾ - 04½ 67 - 68 1,,_ 143!,g 15!½ 147 -15) 20~- 22 180 -190 63 - 73 90 - 05 151¼-157:):i 172¼-173¾ S:l¾- 87~ 68 - 72~ 93¾-100½ 19 - 19~ 127¾-137¼ .. 191 -197 Lf/0 -196 46½- 5L:h 45¼- 48¼ 5 - 90¼ 861,(- {:OJ:. 00.rli- 92 81 - 91 . .. - . ... L9l -214 L25 -142 ... .. - - .... .. - ... - . .. . - . .... .... - .... .... - .... .. ... .... ... - .... .... .... - . 190 -205½ 122 -135 . .. 126 -135 122 129 l25 -135¼ l~2¼-l ~ 57 - 41 39 - 44 ... . ... - ... .... ... - .... ... ... . .... .... ... - ... .. .... - ... ·•• · · ••· 120)2--145¾ t16¼-132 02 - 93 92 - 93 96 - 97 90 - 90 ... .. . 201 -201 28¼- 26~ :l2¾- 25¾ 61 - 66½ 60 - 64}4 l3l -132 134¼-134¼ - . 85 - 89 97~-100 93 - 93 61 - 66}1 117 -119¾ 28 - 83\fa s o - 33¾ 49 - 5 i~ 138½-lol¾ lll¼-116 85 - 85 19 - 2l°J11 41 - 50~ Sil¼- 44.}fi 16 - 18½ 30 - 40¾ 22 - 26 23 - 29 46¾- 52 l43 :.!15 109 255 -250 -230 -113 -285 129¾-144¾ 90¾- 93 04 - 05 1119¾-lWx 25!,4- 29~ 6 Z¼- 69¾ 136~-166¾ 138 -165¼ 138¾-150~ 90 - 91 89 - 90¼ 90 - 91 92 -100% 95¾ 100 98¾- 98 . 206 -206 26~- 28¼ 26¾- so~ 21¼- s2n 64¾- 66¾ 6i¼- 6J¼ 64¼- 68~ ... .... .... - .... ... .... - .... ... - .... .. .. - .... .. ... - ... ... - .... 22¼- 24 ... 62M- 64 .... - . .. 60 - 68X .... 32½- 85 ... 33M- 35 35 - 85 66~- 70 42¼- 47 .. .... ... 66 - .... - .... 21 ... . -- ... Si63 - 641}.(- 65 66 - 66 01 - d4 40¾- 45¾ 43 - 4S½ 43 - 48 · ••· 783,r 80~ 29 - sex 58¼- 62:h . .. - .... ... . .... - .... - .... .... - .... 29 - 31~ - 82 793'- 80 - ....J8li Al35 - ... ... - .... ... - ... ... - .... .. . - 'ilx, 61 - 68 .. - . .. .... - .... 83 - 90 85 - 91 - .. .. · • • - . .. 63 ---.... .... - 61¼- 66½ 63 - 63 64 - 67 61¼- 64 145¼;-152~ 142½-149~ 140¼-149 141¼-HB~ uo -149 141½-146 142¾-145 140¾-U5 201,(- 21~ 2) - 24).1 22]4- 25% 24~- :l9½ 195 - Hl5 190 -190 186 -192½ 18!¾-18-!~ 7:.?¼- 76 64~- 67½ 68¾- 63~ 6t¾- 75 06 - 98 96 -96¾ 92 - 94.½ 96¾- 08 148 - 156 147 -16 l½ 146 -1-18 LS! -151¼ L70¼-17J½ 163 -171:k 166 -168~ 166¼-169 35 - 37 32il:1- 37½ 83¾- 43:¾J 88¾-42:>4 ,0 - 78)4 69¼- 71¾ 68 - 71~ 68½- 76 95¼;-100½ 93 - 9 ¼ 91¼- 05x 90;.- 95,¼i .. ... 182 -1 2 · •• 140 -H3 141 -143¼ 136 -141 135 -146 140 -146 SS¾- 4 •¼ 45 - 49}.( 48½- 57 5t¼- 58~ 56¼- 511¾ 20 - 22 21¾- 28 2! - 2 3½ 26¼- 29~ 29 - so 137¾-H6 137¾-146½ *126!¾-41!,{, 126 -1321}.j 128 -136¾ . 6¼- 6¾ 4¾- 6¾ 60 - 65¾ 66 - 60~ 65 - 68J:1i 60 - 68 6L¾- 65 116 -120 . . ... ... ... - ·•• · 87 - 90 85 - 89¾ 82¾- 87;J:. 85 - 86~ 85 - 92 . . - . ... l\!7¾-127~ ·• ·· 104 -197 19J¼-D5¼ t02 -194¼ 19t -195 189½-193 46 - 51!{ 4731!- 61½ 44~- 49,a H¾- 48¾ 46)4- 60~ 90¾- 94¼ 92:J,.i- 97 112¾- 97~ 9 ..1 - 95½ 89¾- 95¾ 90¼- Il l 9J¾- 90;¾ 90 - 9v½ 91) - 90½ ... Wa!,(-20014 ~12 -:ll2 203}4-2Ul½ Z07¾-219 2Jti)s-218 200¼-228 l79¼-224¼ .:.27 -134 125 -132 128 - 134½ L27 -133 122¾-128" - . ... . ··• · . . 127 -180 .... 124¼ 127 120 -120 · ••· 130¾ -146~ 139¼-145}4 l39 -146!,4 l~-145¼ L85M-UO~ 42¼- 4i~ 42 - 42 35 - 43 36 - 87½ 85 - 38 - .. .... 140 -HO S7 - 40 - .... .... - .... ·•·· - .... .... ... .... - .... .... - ... ... - ... - .. - .... Southern vot. tr. ctfs a1u.mped e:s:tended .. .. P,·ef. do do ··· ·•····· lll. & O. stock tr. ctfs. Southern Po.cUlc Co .... Pret ........................ Te:s:o.s & Po.cute ....... 'Toledo St. l,ouh & W. .................. Pret Onion Pacific ............. . Pref ··· ···· ············ Vandalia .................. W o.bo.111h ..... .. ..... .. ..... Pret. ........... .......... . '\-Veetern l't'Iarylo.nd. Wbeeltnir & Lake Erlf' l•t pref... ~d pref..... . ....... , ...... Wisconsin Centro.I .. . . Pref . ...................... 67 - 70 140¼-151~ 1!7¼-152 20 - 23¾ Lt4¾-185 66 - 71~ 02 - 9SJ.{ 153 -159 171 -175'h 31¾- 861}., 64%- 71 8fl¼- 08~ 67 793-li 82¼ 63~ 13 ... ... - .. . ... - .... ... - .. .... - ... - .... ... - ... Si - 86 82¼- 85¾ s, - 85½ 79 - 86 8~ - 84'h 80 - 80 LOB -108 ... - .... 107¼-109 108 -108 108 -108 .... - .... ·· •· - .... ... - .... 174 -177½ li4 -174 173 -178}4 174 -174 .. - .... Q2¼- 93311 92!)4- 96~ 93 - 93 ... - . .. . .. . - ... ... 61 BO - 80 80 - 80 77 - 79½ 78 26¾- 31'4 21 - 28% 2d~- 30}-fi 29~65 - 60"' 56 - 59¾ 67!,a- 62 68!,i.. .. 10 - 14 8 . 4J, - 45 . ... - .... - ... .. .... ... - .... . .. - .. ... - ... ... - ... .... ... - .... ... - ... . ·• •· - .... . ... ... - ... - .... :,5 32 SIi 85 31 27½2 7M- 33 - 33 - 32¼ 30 80 - 84 'i5 - 80 86 - E6 85 - 85 ... - .... .... ... - ... ... - .... .. .. - ... ., .... - ... .... .... - .... 8) - 80\f 79"'- 80 a - 27~ 2.¼- 21 4) - 55 fO - 57 H -14. - . ... . ... - .... . .. - . .. - 65 61 46 - 23 65¾ 35 70¼ 50¼ 19 - 21 6l - 64 :n - 3 1 ... - .... ... - .... ... - .... ... - .... 80 - Bi¼ 12) -152¼ 69 - 9l 96¼- 96¾ ... - . ... 28~- 32¾ 63~- 68¼ 127¼ -127¼ 47 - 55 .. - .... ... - .... 61 - 61 68 - 72¼ 46¼- 49¾ 46¼- 50 68¾- 71,! - .... .... - .... .... - .... - . .. . ... . ... - .... 120 -120 . ... - . . .... - ... ... - ... . ... - ... ';3 - 74½ .... •• · · - .... ... - .... - . .. . .. - .... - .... ... - .... 74½- 7¼¼ - . .. 21 I - 26M 23¼- 26¼ 23 - 27½ 20~- 23~ 20¼- 22½ 22¼- 26¾ 23¾- 26 57¼- 62.)f 57M- 60'1; 67 - 63}! 57 - (3 60 - 56¼ 49 - 53~ 62¼- 61 33 - 39~ 32¼- 361):( ~ - 39¾ 85¼ · 38% 33 - 37¼ 31¾- 85½ 9'1 - 96 93¼- 99¼ 97¼- 997-1 !l9 -100\1.( 97 -100¼ 95 - 97 .. . 96 - 96 - ... 94 - 94 . 64 - 69).j (IB¼- 71¼ 7$¾- 93½ 90¼- 97¾ 9.) - 00¾ 90¼- 96~ 119¼- 120~ 116 -117l':i 117!,4-118½ 117!,(-118½ lli¼-119¾ 11~-119x SO¾- 85¼ 29¼- 33¾ 82!,(- S6i. 34~- 38½ 35¾- 40¾ 35¼- ~ 26 - 81~ 25~- 29½ 28 - 86 313-!i- 85~ 331):(- 38¼ 33 - 85¼ 46 - 49¼ 43 ¼7¼- 55 51¼- 57 54 - 58¼ 63 - 55~ 141),:(-153 139):(-162¼ 158 -1911):( 191½-1»6¾ 180M-191~ l79~-19031, 92¼- 93 92¼- 95 IJ! - 95 li2 - 93 92ll(- 94.¾ 94,¾- 95 . 85 - 85 - . 85 85 85 - 85 19 - 211):( 18~- 20¼ 19M- 21¼ 19¼- 20¾ 18~- 20¾ 18¾- 20¾ 44¼- 60¾ 44 - 48 44¾- 48% 42Ji - 46¼ 42¾- 46~ 41~- 44.).\ so - 41½ 36}9- So½J 84➔.(- 87 87 - 40 So½- 88½ · ·• 173,(- 19¼ 17 -18¾ 17¾- 19~ 18 - 18¾ 16}r 18~ 16),(- 17¾ 36¼- 40 Si ¼- Sf¾ 87 - 42 39 - 41½ 39 - 41 36¼- 41 23M- 251}.( 22¼- 25 23~- 25¾ 22¾- 24~ 21¾- 24½ 211,(- 23~ 2 1~- 2~ 23¼- 2 j¾ 24~- 28 24 - 26¼ :..3 - 253,( 24¼- 27 u - 47¼ 47½- 68~ 45,l,t- 51¾ 61 - 60 50¼- 63 '16 - 63 ... . .... - .... ... - . . . ... ~7¾ .... ... - .... ... ... - .. ... - 2-iO -240 220 -2ao 115 -116 275 -286 240 2t2 120 275 -251 -226 -12! -280 255 235 124. 290 -800 -272 -133 -301 32 - i5¼ 93¼- 9~ 90 - ll3 90¼- 96¼ 116¼-120;. 34¾- 38~ 33}:(- 84~ 52 - 54¼ 177,¼i-188¼ 92¼- 95 ... - .... ~75 -285 295 -295 . 249¾-270 210 -248¾ .l!0¼-245 131¼-136 125· -130}4 U6 -122 290 -293 :;:95 -305 290 - 3 , 2 - .... 18 86¾80 16 87¼21¾- 20M 4~ 85¼ 17 88~ 22llt 24'¼- 26 4.8¼- 52M 85 .40 115 .!93 -800 -246 -117 -305 107 -1183,( 100 -109~ 100¾-llSlhi 9c} -111¾ 95¼-110¾ 92¾-101'4 1()()'4-111!,ti 108¾-115¾ 109¼-117½ lOd¾-114¾ 110¼ 116¼ 17l) -170 . - ..... ... .. 268 -300 245!,s-276)< 242 -286 . 28¾-276~ 228 -273 ~4 -254 261 -285 274¼-294½ 265 -28~ Z64¼-2B2½ lSO -29t¼ 60 - 78':( 57 - 67~ *46¼-67¾ 40¼- 57!►.a u~- 61¾ H¾-55¼ 51~- 61¾ 52 - 159¼ 501,4-58¾ 49¼- 67~ 61~- 58¼ 80 - 85 90 - 90 90 - 90 89 - 89 \18~- 98~ 96 -1011,4 100 -100 90 - 95 85 - 95 102 -110 100 -101 17 - 213-:( 11%- 23 11¾- 20 18¼- 21~ 17¾- 19¾ 17¾- 21¼ 19¼ - 30}4 25¼- ~¾ 19¾- 21S¾ 19 - 21 *18¼- 26 . ¼ .••• Rlirbta . . ................... 100 -100 95~- 95¼ 95 - 95 . . -Coneolido.tlon Coal_ ... . 115 80 - 82~ 821):(-100 -100 ffom-tnk .. 1"flnhur .. S.'J - 88\c RS - 88 803,r R2~ 811,(- 82 81~- 83 88~- 87 90 - PO¼ 82¼- 8~ 82~- 83 ; .Kx rights. 108%-115½ 190 -190 280 -298 5~- 83¾ 95 -112¼ c!1.e~.ii~-c~~i~-i~;~.-. 17¼- 26¾ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis .... - .... - ... - ... ... - .... .... - .... .... - .... - .... ... - ... -··· .... - .... .. - .... .. - .... .... - .... .... - ... .... - .... ~.... .... - ... .... - .... .... - ........ - .... .... - ..... ... - ... .... - . . .... - .... .... - .... .... - ... .... -- .... .... - .... .... - .... .... - .... MISCELLANEOUS STOCKS. 113 1906-Continued. STOCKS. JANUARY FEBR'RY'. M.AR~ ~PRI~- _!!-AY-_ ~~ ~~ AUGUST. SEPT'.BER. OCTOBER. NOV'B~.1 D ~ _ _ _ _ _ _ _ _ _ Low.HiJZh Low.High Low.Hi~ Low.High Low.Hhrb ·Low.Higb Low.High L0w.Hlgh Low.High Low.High Low.High Low.High Leblu;h & Wilkes Coal .... - ... .... . - ... 50 - 50 ..• . - •....•.• - •.....•. - •••. .. - •... 50 - 50 60 - 60 ..•. - ... ... .• - ...•••• - •... Ontario Sliver Mlnlnir .. 2%- 4 2¾- 2~ . .. . - • • • • 2¼- 2¼ 2 - 2¼ 1¼- S 2¼- S S - 3 3~- 3 • 3½- 4~ 3½. 4¼ !I. - 5~ Pittsburg; Coal of N. J .. 14¾- 17~ 14¼- 1~ 14¼- 17~ 14 - 17¾ 13~- 14" 13¼- 14¾ 13¼- 16~ U - 16¾ H¼· 14½ 14 - -16% 15%- 18¼ 16¼- 18 Pref. ..... . ............... 56 - 62½ 56 - 59 54 - 62 55 - 61¾ 55 - 55 52¼- 62¼ 50 - 52½ 63½- 57 53¼- 55¾ 53 - 62 57¼- 61 55¼- 62 QulcksllverMlnlnir. .. . . l½- 2¾ 1%- 131! 174- 2 2 - 2 ..•. - -·· ..•• - ....••• - ••. . •• . • - •.. . ..• - ... . l¼- l¼ 1¼- 1¼ .•• - •... Pref... ... .. . .. . . . . .. . . .. . . 3¼- 6 3 - 3 3 - s !I. - 4 4 - 4 - . . . . . . . . - . . . . . . . - . .. . . . . • - . . . S - 3 4 - 4 . . • - •... Tennel!ll!lee Coal & Iro 11 L29 -ld5 149 -165 L4tJ -1523,J 139 -152 133¼-156 L50 -158 140½ 156 154½-162¼ 156 -159¾155 -162½ 153½-*166 157¼-lM Rlirhts. ... ............... . ... - . .. . .. 6'k3- 8 6½- 7~ ••• - •••• • •• - ... ... .. - •••. .. . - .••. , ••• - •.• . ••• - • .. 'i½- 8¼, 6½- 8 V n. J ron Coal & Coke. 50 - 56~ 45 - 65,- 43 - 49 40 - 48½ 38 - 44 40 - 45½ 33¼- 41!¾ 42 - 41J¾ 43½- 57~ 50¾- 59¾ 53¾- 78½ 74 - 93 VARIOUS. Alllt••Chalmers........ .. 2i - 27~ 20½- 25~ 19¾- 22½ 20 - 2S 19 - 23¾ 17M- 23¾ 16 - 18¼ 17¼- 20~ 16¼- 19¾ 163'- 18¼ 16½- 18¼ 16¼- 17¾ Pre f . . . . . . . .......... .. 61½- 67 5J - 64X1 55 - 59'6 5.1, - 59¼ 52 - 61 50¼- 60>2 45 - 50 46 - 49'4 40 - 48 42½- 48½ 44 - 46~~ 43¼- 45¾ Amer. Agric. Chemical 24¼- 8!~ 27½- 83i,+ 27¼- 29¾ ~SJ.ii- 29~ 21!4- 26~ 28¼- 28 20 - 25¼ 28¾- 2~ 25 - 29½ 25 - 271J:a 26 - 26 24 - 26 P1·el.............. .. .. .. . . .. 93¼·102 99 - 99¼ 993,&-100 93 - 9! 93 - 93 94 - 9!¾ 9J - 93 93 - 94 . ••• - . . .. 92¾- 92¾ 91!,4- 92½ 90 - 90 Amer. Beet Suirnr....... 26 - 35 26 - 80~ 26 - 2t!¾ 21 - 80½ 20½- 28¾ 21¾- 25½ 21 - 25½ 23 - 25¾ 21 - 23¾ 21½- 25¼ 22¼- 25¼ 22 - 25;( Pret . ....................... 85 - !:<91<_ 87 - 87 85 - 85 86 - 87:Jj 86 - 87¾ .... - •... 87 - 87 84 - 84.¾ . ..• - . . . 82¾- 82¾ 83 - 83 ••• - • .•• Amer. Car & Foundry . 3J½- 47h 40~- 46½ 89¾- 45¾ 87¾- 4,j 34½- 4i 35 - 42½ 32¾- 38 37¾- !ll¼ 89½- 46¾ 42%- 413h 42 - 45~ 40M- !l6¼ Pret. .. .. . . .. . ... . .. .. . .. . . 99¼-105 100~-104 100¾-102i.. 100½-103¼ 99¾-102:¾( 100 -108 9:l½-101. lOQ¾-101 100 -102 100¾-102~ LOl -102 100¼-102¾ Amer. Cotton Oil Co ... . 87 - !l4¾ 82¾- 89½ 31½- 86¼ 29~- 85 2!J - 33 29 - 84¾ 28 - 33¼ 30¼- 83~ 31½- 36½ 83½- 87 SL¾- 86¾ 81 - 33 Pret............ . . . . . . .. . . . 98 - 95 93 - 93¾ 92 . - 98 92 - 93 9u¼- 93½ 90¼- 92 . • • • - • • . . 93½- 93½ 02½- 93¾ 94 - 94 95 - 95 90. - 91 Amer. Dist. Teleirrnpb. . . - . .. . ... - . . . . 87 - 87 ...• - • . . . •• - • .. . . . - • . .. •• - • . . . . . - . .. . . .. - ........ - •. . .. - . . . t· _ . . Amer. Gra8!1 Twine. 9:J(- 11~ 9 - 10 9 - 10¼ 8½- 10¼ 7%- 9~ 8½- lO;)fi 8 - 8½ 8¾- 9¾ 8 - 8¾ 8¼- lC¾ 8¼- 9;14 814- 9 Amer. Hide & Leatbe1 8¾- 10 8¼- 9!k, 7 - 8¼ 6½- 8 6¾- 7¼ 6 - 7 6 - n, 6½- 7½ 6 - 6½ 6%- 6¾ 5½- 6½ 6)4- 'iJ.1j Pref ....... .... . ........... 36½- 43 86¾- 40 SO¼- 86¾ 31 - 85¾ 28 - 84½ 27 - 33 2 7½- 81¾ 2::s¼- 31!¾ 25 - SO½ 25 - 28½ 24 - 29 28½- 32¼ Amer. Jee Securities ... 85¾- 46½ tS½- 47}1. 45¾- 50½ 56 - 68» 57 - 65¼ 59¾- 64.% 54¼- 65¼ 65¾- 80 79¼- 94h; 88 - 92½ 88 - 92~ 74~- 93'¼ American Linseed ..... . 20 - 29¼ 22 - 26x 20¾- 22¼ 18½- 21¼ 17¼- 20½ 18 - 24 18¼- 2v~ 19¾- 22 19¼- 20 18 - 19½ 17~- 19 16¾- 18¼ Pref........... ..... .. .. . . 41¼- 68h, 411½- 48 46 - 47 89 - 44 83¼- 41 89~- !l5½ 40 - 4 '.½ ii¼- 43¾' 80¾- 41 31J - 40 88 - 39 85 - 88¼ American Locomotive 70¾- 78x 6S½- 7i¼ 65~- 7li)j_ 59 - 71¼( 63!1:(- 70¾ 65¼- 73¼ 6~¼- 7~~" 63 - 72:14 70¼- 77 71M- 78 71¾- 76½ 70¾- 76¼ Pref-...................... I 16¼-120¼ L16 -117x L15½-116v, lll½-115½ 110¼-lH, 116 -115 114 -114 1<_ Ll2\l:(-113'31! 111 -lU 111 -112¾ Ll0¾-112¼ 108¼-lll¾ AmerlcanMaltlnir..... . 5 - 6!>-. 5 - 6¼ ... - •... 5 - 5½ 4¾- 4¾ .... 3!1:(- 4 4¼- 4½ 4¼- 6 4¼- 5 ..• - .. ... ... - •••• Pret.... . ...... . . . . . .. .. . . 25 - 29 26¾- 27~ 26¼- 26}<, 28¼- 291 . . • - ,. . . 28½- 28½ 26~- 26\.. . . • - • • . . . . . - • . • . . . . . - . . . . • - .. • . .. .. - .••• Trost Co. ctfs..... . 5¼- O½ 5 - 6½ 5 - 5¾ 4%- 6 4½- 5 !I. - 4¾ 4 - 4 4 - 4 414- 5¼ 4½- 4½ 4 - 4 4 - 4 Pref. Trust Co. ctfs... 25 - 2\J 26 - 28 :l6¼- 27 26~- 29¾ 26¼- 28}{, 26¼- 28½ 26 - 27:½ 26¾- 27½ 27 - 29 26¼- 28 25½- 26!1:( 26 - 26¼ Amer Pneumat. Serv.. . . . - ... . .. - ... .. - ... 89 - 5i~ 31¼- 45 39!,(- 48 31%- 85:_ 281)4- 82 25 - 29½ 27 - 29¾ 28 - 30~ .••• - .... Pref . . . . . . . . . . . . . . . . . . . . . . . . - . . . .. - . . . . . . - . . . 79 - 88J.<. 78 - 81 76 - 81 .. 60 - 70 61 - 62 62!4- 62),, . . . . . • - ..•• Am. Smelt. Sec,, pf., B OO!ki-101,-_ 99¼-101!¾ 00 -1C()7,1l 1'9¼- 10 l L()(J¼-100¾ 99 - 9931 96½- 93·_ 96 - 98 96 - 96% 94¾- 97½ 94 - 95 92¼- 93 Am. ~melt'ir & Reftn'&r .. L61¼-174 L53¾-169 L50¼-162~. LU¾-163½ L38½-'J.57¾ ll0¾-159¾ LH -153!,.. ,51 -165¾ 150 -159¾ 152¾-161% L.'>1!,i-157¾ U7 -155¼ Pref................ . ...... 125)4-130 .22 -128!1!, 120:¾(-124~ 115 -123x 115¼-122 ll!I. -120 L14¾-113~ 116!,4-119 LlS:k;-117½115¾-120 Ll5!,4-119 112 -117 American Snuff..... . .... . }21) -220 H9¾-219~ - .. 10 -210 205 -205 -. - . .. 00 -210 HO -210 220 -220 ..•• - .. . ' - ... . Pref........................ . .07 -lv7 . . • - . . . ,07 -107 06 -106 ,02%-102:ia l05 -105 .. - . .. . . • - •.. . 105½-105½ 100!,4-10! lOl -101 100 -101 Amer. Steel 1:<'oundrle~ 13~- 16¼ 11½- H 11 - 12~ 10 - 12¾ 10 - 12¾ 10 - 1 3~ 10 - 11)1. 10 - 12 10¼- 11½ 9¾- 10~ 9¾- 11 0%- 11~ Pref............... ...... . 49¼- 53¼ 45½- 51 42½- 48 42¼- 47¼ 40 - 48 41¼ - 50 ~ 40½- 45 42½- 47 4'2¾- 46½ 43¼- 44r.. 43½- 47 !l!¼- 4-i¼ I.mer. Suirar Ref. Co.. tH¾-167 :39 -148~ ta6 -141~ .80!1,t-142y, t:27½-138}1. ll!8¼-1Si?-, 127½-138½ 81¼-144½ l3i -138J.1i 182 -137¾ l31¾-136% 130¾-187¾ Pret .. . .............. .... .. ,8.,¼ -140 :39 -189:ki l39 -140 L32¼-187~. t3! -137 W3 -13tJ ,33 -136 136 -13S l30 -185 132 -132½ 130¼-131 l \!8¼-130 Amer. Tel. & Cable Co . 90 - 92 90 - 93 92 - 93¼ . .• - . . . 93 - 93 91 - 91 - .. . . .. - • . . 91 - 91 88 - 90 86 - 90 891'- 90¼ Amer. Teleph. & Teleit t88¼-144~ L:JS -142~ 137½-189 85 -189½ 135½-187¼ l8t'l½-186½ . 30 -132¾ . . - . . . 135 -139¾ 136¾-129l}c t8tJ -13d~ 136 -136 Am. Tobacco (new) pf . ~03114 -109 .03½-106!11 103 -106 ,00½-105½ .00¼-104 99 -104½ 96 -101 99¾-101~ 99 -101½ 98½-1003,i 97 - 99¼ .,6 -1001,( American Woolen Co.. 40~- 48 42¾- 46x 41 - 44 8f> - 44h 33~- 39!,,t 82 - 41¾ 32 - 87~ 35½- 88~ 85¾- 38¾ 34¼- 87!,t 29 - 3C~ 81~- 84¾ Pref ........................ 103 -110:k, .Oi¼-110¼ l06 -109¼ ,05 -108 l03¼-107¼ l05 -lOi¼ 101 -104y, LOS -104¾ LOS -105 L02:J(-103¼ LOl¼-103¾ blOH(-03¾ Rlirbt■ . . •.• •••• •• •. ••. . .. . . . - . .. . . . - . . . .. . . - . . .. . - .. .. . . - . . . . .. . - . . . .• - .. .. - . . . . - . . .. .. . . - . . . .. • . - . . .. Sc.- 2 j c. AHoclnt. Mercb ., 1st pl l06¾-108¼ LOS -109 109!,4-112½ LlO -ll2x LlO -112 Ll2¼-112¾ 109¼-109¼ . . • - •••. 109 -109 L07 -107 107 -107 . . - .. •• Bethlehem Steel Corp ... - ... . .. - ... ... - ....... - .. . . .. - ... . 26 - 25¾ 22 - 25 211J:(- 26½ 20 - 25 17¾- 20 18¾- 19½ 18 - 21 Pref .. .. . . .. .. .. .. . . ... - .. . .. - . . . ... - . . . . . .. - . .. . . .. - . . . 88½- 88~ b6 - 86 82\lt- 82¾ 65 - 84 63 - 74:h 62 - 67 Brooklyn Rap. Trans 85¼- 94¼ 78~- ~ 78¾- 88½ 72¾- 89~ 72 - 84¾ 73!'4- 85½ 71 - 78% 74.¼- 81 75 - 82¼ 76¾- 80¾ 751r 81~ 77%- 88 Brooklyn Union Gas ... 165 -178 :55 -170 128 -153 119 -130 120 -124 122 -180 l21 -126 Ll6 -130 122 -127 120 -125 105¼-120 107 -114 Bruna. Dock & C.lmpt. 17¼- 20½ lt!¾- 19 14¾- 19!4 17%- 21¾ J.7 - 19¼ 15½- 18½ 13!4- 15 15 - 17 16¼- 17 15¼- 161,, 15%- 16:U 13¾- 15¾ Butterick Co.... ......... . 55 - 59¼ 64 - 57¾ 61 - 56 40 - 66 60 - 70 55 - 55 55 - 55 5 L - 51 57 - 57 53¼- 54½ 1.\2¼- 52~ 49 - 60 Central Leath£-r.. ...... 44¼- 49¼ 41¼- 4~lb 41¾- 46¼ 40½- 4t' ¾ 8S¼- 43¼ 85¾- !l3½ 81¾- 40½ 38 - 41¼ 88 - 40¾ 3:1: - 39 85½- 88¾ 83¾- 87¾ l'ret........... ........... LI 3¼-107½ l04'.l:(-10i½ 104 -107 100¾-105½ l00½-105 101 -105¾ 100 -103½ 101¼-103¼ 101 -103½ 102¾-103~ l02 -103½ 9$¾-102¼ Cent. &So.Am.Tel'u'l1 L87 -137 13~¼-1:35½, 18! -13!l 135¼-135½ 14.0 -142 147¼ -147½ .. - .. .. - . . ..... - .. . . ..• - •....• • - •.. .. .•. .• Chic. Union Traction ... 10 - 12¾ 1L - 18 1 5 - 13¾ 5 - 7¼ 3¾- 6¼ 4 6 S¼ - 4¾ 4¼- 5¾ 4 - 5¼ 4~- 5 l¼- 5:k, 4~- 6 Pref.......... . .......... .. . 39 - 42 40 - 46% 16½- 47¼ 16¼- 21½ 12 - 18~ 12 - 16 11%- 13½ 18~- 18 16114- 20¼ 18¾- 18~ 14 - 18 16ij- 20¼ Consolldnted Gas ....... 168½-181¼ 156 -1~1 142)4-15,% LJ0¾-145 132)4-141 137 -147¾ 182½-141 185 -142¾ 135½-141¼137¼-143½ 187 -140¾ 187}9-141 Corn Products. ....... . 16!1:(- 11'¾ 17¾- 19ikf ..•• - ••.. . ..• - •••. .. .• - . . . 13¾- 13~ .... - .... .. • - ........ - ••••••• - .. . •• - ••• • .•• - •••• Pref . . . . . . . . . . . . . . . . . . . . . . 55¼- 61¼ 56¼- 59½ . . • • - • . . . . .. . - . . . . . . . - . • . . . . • • - . . .. . . . • - • • . . . . • - • • • . • • • . - • • • . 52 - 52 .. • - • • .. . • • - .... Certfs. of deposit .. . 18¼- 19¼ l~¾- 19¼ 17 - 18 18 - 18¾ .•• .... - •.•. .• - ••...••• - •••.••• - •••..•• - ••. . .• - •.. . .. - •.•• Pref. ctfii1. of deposit. . .. - .. . 57 - 58¼ 58¾- 56¾ 55 - 56½ ...• - • ••• . .. - • . . . - ••••.••• - .... . ... - ••. ..• •• - • .. . .. _ .. . . Corn Prod. Retlnlnir.. . . .. - ...... - .... 21¾- 26¼ 22¼- 28 21½- 24 19¼- 28¾ 18¼- 20:?~ 19 - 20¾ 19 - 21¾ 19¾- 20~ 19~- 23¾ 20 - 22¼ Pref.................... ... . .. - ... . ... . - ... 79%- 84 7i!4- 85¾ U¼- 81¼ 77¼- 88¼ 7/J - 79 76 - 78¼ 75¼ · 78 74¾- 76~ 7!1.~- 82¾ 79¼- 82¼ Detroit United Ry .. . .. . 933,(-100~ 98¼-102 97¼ -100½ 90!,4-100½ 91 - 96¼ 93 - 95¾ 90¼- 93¾ 93 - 95'4 94 - 94½ 90 - 93)4 84 - 90 79%- 84~ Diamond Match rlaiht1. . . . . - . . . . . . . . - . . . . - .. .. - ... 1 - 1 1 - 1 . . - .... ...• .. . - . ... ... . - . . . . . - . . . . . . . . - ...• Distiller ■ Sec't'• Uorp.. 51 - 6!l¼ 52¼- 59¾ 53¼- 62¾ 52 - 61¾ 51¾- C5¾ 56¼- IJ:l¾ M¼- 60¼ 59 - 68¼ 60½- 74¾ 67½- 72¼ 68¾- 72¾ 68~- 72~ Dlstlll'a- of Amer., pref . . ... - ....... - ... . 60 - 62½ 65 - 65 78 - 73 66 - 65 ... - .... • •• - •••..••• - ....... - ••.. . ••• - ••..••• - •••• Eaatman Kodak ......... . 162 -16!J .... - .... 177 -177 . .•• - •.. .. ..• - .... 276 -275 ... - •• . . ••• - ........ - •••..••• - •.. . .••. - •• .. .•• - •••• Elec. Storau;e Bactery. 81M- 87¼ 84 - 84 .... - ........ - •.. . . • - .... . . - .. .. . .• - .....••• - •••. . ••. - •••. ..•• - ... .. ... - .... •• - .•. Federal Min. & Smelt 188 -199 180 -190 171 -185 L59 -182 155 -169¾ U3 -165 150 -165½ 170 -175 155 -165 L61¼-174 174 -179 163 -175 Pref.. . .......... : .......... 104 -112¼ 104 -109¾ 100¼-105'4 94 -106½ 92~100½ 99 - 99¾ 91 - 96½ 9-'>¾- 97~ 92 - 95~ 92¼- 9P¾ 951'- 99¼ 93¼- Q73-( General Chemical....... 77 - 82 84¼- 84¾ 78 - 80 _. - ....... - . .. . 79 - 79 . .. - . . . 75 - 75¼ 75 - 76 74¼- 78 75 - 7? 74 - 76 Pref... .. .................. 105¼'-106 106 -106¾ 103 -105 103¼-10! 103 -lOi 108 -104~ 103 -104~ 103½ 10!¼ 105 -105 103 -103 102 -102 l03¾-103M Ria-ht, ................... . .... - ··· · . .. - .... ¼- ¼ ¼- ¼ .... - . ... · ·•· - ........ - ·· · · ..• - .... · ·· - .... · • - · ... ···• - ··•· General Electric. ....... 172 -181¼ 167 -177¾ 165¼-172!,( 162¾-174% 161¼-169 160"-178¼ 160!,:(-167¾ 166½-171½ lM¼-169 165¼-184 171¼-181 156 -178¼ Rlu;bt■• .. ••• . . .. . . ••. 9~- 10~ . . • • - • . . . . • • - • .. . . •• • - • • • . • • • • - • • •• . . • • - •• . . . • . - . . . . - . . . . . • - • • • . .. •• - • . • . 12 - 12~ 11¼- 13¼ Gold & Stock Teleir' ph. . . . . - . . . . . . . . - . . . . . .. - . . . . . . - ... . .... - ...... -. - . . . . . . . . - . . . 110 -110 . . - . . . . . . . • - •. . .. . . . . • • - •. •• Havana Electric ......... 88¼- 35¼ 85 - ~o 85 - 89 33 - 48 46%- 51 !l6 - 49½ 45 - 48¼ 43 - 53 41 - 47 46 - 49 45 - 47 43 - 46 Pref........ . ... .... ... 77!4- 84¼ 80 - 88¼ 81 - 88 81 - 88 84~- 97¾ 90¼ · 01 88%- 89¼ b7 - 93 90 - 90 88 - 89 80¾- 87 ~ - 86 H. B. Claflin Co.. . . . . . . . . . . - .... 116¾-117 . • . • - • • • • . ••• - • • • • . . • • - ... . ... • - .. .. . . • - . .. . . • • - . . . . . . • - • • • .. • • - . . • . .. . • - . . .. . .. - • . •. lna-Prsoll-Rnnd .............. - ..... . .. - ....... - ........ - ........ - ........ - .... .... - .... .... - . . . . . . - .. . 41 - 65 54. - 56 56~- 6~ Pref........... ............ . .... - . . ..... - ... . .. - .... . .. - ....... - .... .... - ........ - . . . . ... - ....... - ... . 93¼- 95¼ 95 - PO 941- 96 lncerb.-Met. vot. t.ctfs . .... - .... .. .. - ........ - .... 50 - 511,4 50 - 5-5¾ 88¾- 61½ 8!~- 8'1¾ 34 - 41 3514- 39¾ 86¾- 38¾ Sc¾- 89~ 84!,i- 88 Pref ... ..... . .................. - ....... - ....... - .. . 86 - 86~ 80¾- 87!kl 73¼ 85½ 70¼- 78,s 76¾· 81 75¼- 79¾ 75¼- 78.!1! 76¾! - 7J>i, 72 - 77 lnternq.tlonal Po.per.... 22¼- 26~ 21 - 2'¼ 21 - 28¼ 18>.(- 23¼ 18 - 20~ 17¼- 21 l - l ,·% 18¼- 20¼ 16¼- 19 17!4- 1\1 17¼- lU 17¼- ~ Pref....... ....... ... ...... 84¾- 90 83%- 83 82½- 86½ 82¾- S6 82¼- 86M 82~- 86½ 82¾· 84¼ 82%· 87 80¼- 88~ 81¼- 82¾ St¼· 82!i 80 - -~ International Power... 5S ·_ 95 60 - 85 68 - 78 60 - 74 50 '... 62 48 - 57 48 - 48 50 - 53 49 - -5U¾ 50)4- 57 52 - LO 51 - 1!!r" Internat. Steam Pump. 28 - 87 32½- 87¾ 30 - 40 35 - 56 50 - 60 44. - 55¼ 31 - 48 44 - 5:.!¼ 45 - 50 43 - 50¾ 40~- 4 i\.:1 36 - 41¼ Pref....................... 'i9 - So¾ 82 - 85 83 - 86¼ 83 - 87 83 - 92 85 - 88}4 81¼- 86¾ 83 - 86¼ 83 - 8.;!J4 80 - 86 81 - !:!2 711¼- 813' Knick. Ice (Chicaaio) .... 61M- 68 61¾- 66¼ 59 - 66¼ 61. - 67!4 61"- 65¼ 61!,i- ~:l¾ 5!¼- 6(;~ 59¼- 61½ 60%· 8!¾ 72¼- 88 73 - 78¾ Od - 76¾ Pret.. ......... . ............ 78½- 80 77¾- 79¼ 78¼- 78¼ 79¼- 80 ..•• - •••..•. - •.•. 75 - 76~ 76¾- 78 78¼- 65U 80 - 86 79 - 80 66 - '75 Laclede Gas, St. Loullil .... - .... 10!¼-104¼ .... - . •. . . • - ........ - ••...••• - ........ - ... . .... - •••. 95 - 95 .... - ... ... . - •.• .. . •• - •••• l'ref ............... ....... 105 -105 ...• - •.. . . ••• - •• . ••• - . . . . ••• - .... . .• - .....••• - •••..•• - ........ - ........ - •.•. . .•• - ••• ..• •• - .••• Manhattan Bench Co.. 12 - 1531:( 10 - 10 .. .• - . . . . 10 - 1~ 5 - 8 IS - ISY. .... - ••• • • •• - •••• 6¼- 6½ 5%- 5¾ .... - .... C>¼- 63' Ifletropol'n Secu1ltles.. 69 - 75.\t 66 - 72~ 07 - 72¼ 71¼- 71½ ... - . .. ... - ........ - ...... .. - ••••.••• - ....... - ••••••• - •• . •.••• - •••• Cert. of depo1tlt... ... ... .. . - .. . . .. - . . . 70~- 74 70¼- 75% 70¼- 70% ... - . . . . . .• - • •. . . .• - ••• . ... - ........ - •••• . •• - . ... .... - ····• Metropolitan Street ... 120 -127 111 -122}fi lll¼ -110¾ Ul -117¾ 105~-116 105 -113¼ 103 -107¾ 106 -110 105 -107 10!1. -107 107 -107 106 -1~ CArt.ofdPpoMlt.... . - .... ... - .... 112 -11'\ 10;1¾ ·118¾ I04J.fi-llfl¼ HO -110 .•• - •••• _ _- _ .• - ... .... - •••• https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis *Ex rigi..ta 1J Ex div.dei..d 1u,11 ex rl"hrs. RAILROAD AND MISCELLANEOUS STOCKS. 114 1900-Conc lnded. . JANUARl' Fll;DR'RT . MARCR. APRIL. - JUNE. MAY. JULY. - - - ---- ---Low.Hbrh Low.Ilhrh Low.Jllgh [,ow.Htirh Low.Htirh r.ow.Hlirb Low.Hlirh ---- - - - - - -------Mich.State T.Tot.t.ctfa. .... - ... .... - .... .. - ... ... - .... .... - .... ... - .... 50 - 60 Pref ..........•••.•......... .... - ... .... - .... · ·• .. - . .. . ... - .... .. - .... 92 - 92 STOCKS. National BlacuU•........ Pref........ u . . . . . . . . . . . Nat. Enamel. & Stamp. Pref.... ..... ................ N n.tlonal Lead Co ....... . Pref....................... . Rt1rbt ■ ...•••••••.••..•••. ---- ---- 67 - 71 113¼-117 16 -1~ 87 - 88 80 - 95~ 102%-106~ ¼· ¾ .. ~-71¼ ll7 - 118¾ 15!J-.(- 17 83 - 88 70½- 00),4 10~-106~ ... ... AUGUST. 8EPT'BJCR. OCTOBER. NovfBER. DEC'BER. Low.High Low.High Low.Hlirh Low.Illirh Low.Hlirb -- --... - .... .... - .... .... - ··•· - . ... ... - ... ... - . .. .... - ..... 50 - 50 . 91* 03 91* 92 e6 - 69 63 - 67½ 62 - 65 63~- 68~ 62~- 68_¼ 66¾- 69 67 - 69¾ 67½- 77~ 116¾-117~ ll6 -118 115¾-117~ 115¼-116 116½-118 117,t-117'-( 116 -116 118½-118½ 14 - 16 13).s- 15¾ 12 - 14 13½- 17~ 16 - 18 14½- 1~ 14~- 15 18¾- H¾ 8( - 85 82 - 82½ 85 - 85 8:3 - 88 86¼- 87¼ 86 - 87 85 - 88½ 87 - 87 74 - 85~ 66 - 8~~ 70 - 783,,i 71~- 80¼ 78 - 82~ 76 - SOM 78 - 80J1; 71½- 86 102½-lM¾ 102,s-lM¾ 101¾-103¼ 100¾-101!'.i 100½-101¾ 101~-10( 101~-102~ 101%-103~ ·••· 72¼- 7~ 75~- 79~ 117"9-117~ lld¼-117¾ 18½- 10¾ H - 15" 84 - 8,j 83 - 87 74 - 77¾ 67* 77¾ 102½-lOi 102 -103)-a .... .... ... .... .... - .... . ... - .... ... - ... .... - .... .... - ... ... - ... .... - ..... ... - .... ... - .... - ... .. .. - ... .... -- .... .... -- ..... .... -- ... -.... - ... - . ... - . ... 33 - 85~ 36¾- 36-U · ••· .... New Orlean■ Ry. & Lt. ... . ·•• · 32¼- 34 . ... . .. . 81 - 81¾ ... ·•· · 82¾- 83 8074- 80¼ 81 - 81 . - . .. · •• - ..... Pref ....................... ... . ... - ... . New York Air Brake .. 154¾-168¾ 155 -161¼ l48 -158 189 -153 135 -147" 139 -148¾ 133 -144" 140 -147¾ 14.0 -14ll¾ 140 -149 t40½-146Xi ]35 -141¼ 40 - 42 40 - 4.0 89 - 39 45 - 45 43 - 48 42 - 471,(; 423,i- 42¾ 4.0 - 42 4:0:: - 43 N. Y.Dock ................. 84 - 50½ 45 - 50 · • •· 80½-80¼ 80 - 80 .... Pref ...................... 78J.t;- 83 80 - 83 80 - 80 82 - 82¾ 80 - 80 . 84 - 85!14 .... - .... 85 - 85 83 - 83 125 140 t25 -130 125 -123½ 124 -129 -120½ 146 -154 -147¾ 126 -130 N. Y. & N.J. Telepb ... 154¾-153 155¼-155¼ -12S 128 . ·•• · ... ... 2¼- 2~ 2¼- 2:J( ... - . . ... - .... . ... .... - .... 4¾- 5 Ktarbta . ..... ........... ... . - .... No. Am. Co., new atock 08 -107 08 -103¾ g7 -101¾ 94 -102 98 - 98 88 - 93¾ fi7¼- 9) 91¼- 98" 91¾- 95¾ 93 - 97~ 91 - 95 Si¾- 92~ 46 - 5L~ 43~- 50 1•n.clflc Mall S. S ... .. . 41¾- 46 31~- 46!'.i 34 - 40J.t; 28¼- 3 J'¼ 30 - 36!,( 35 - 41¼ 361,g- 40½ 31½- 38¼ 35¼- 41~ 87 - 44¼ 98 -103 89½- 95 80 - 93¾ 88 - 93 . 00 - 08 86¼- 01 8'3 - Ol½ 88 - 91~ 1,2 - 98!14 P5¼-101l,d 92¼- 99¾ 80¼- 96 People8' G.-L.& C., Cb. PreHed Steel Car ..... . . 53¼- 64% 53 - 63l,d 49)4- 5-1¼ 46 - 57!14 43 - 51% 44 - 54 43 - 50¾ 50¼- 55!'.( 52¼- 55~ 53¼- 50!,f? 50¾- 55 51~- 55¾ 100 -104'¾ 97 -105 95 - 99¼ 97 - 99~ 07¼- 09¼ 97½- o.~li.\ 97)/4-100 98 - 99¼ Pref 96 - 98l¼ 97 - 99¾ 05 - 977,i 96 - go Pullman Co. (The) ...... 242 -247~ :?43 -245 236¼-240 220¼-289¾ 219)4-281½ ~20 -231 218 -230 235¼-250 ~47 -2t15 255 -264¼ e189¾-270 teO -189 Rallway Steel-Sprln1r.. 581J(- 62¾ 54¾- 61¾ 54\1{- 58 40 - 571}.j 44 - 63¾ 47¾- 57 46¼- 53 521,(- 55½ 53)4- 58¾ 50¾· 56)1; 50¾- 53~ 51¾- 58!':( 103i9-107 LO( -107 102½-105 100 -103 99¼-102¾ 100¼-103~ 97¾-100 Pref . ...... . .. ..... . ... 98½-100¼ 100 -101 100 -100'4 100 - 100~ 08½-101¾ 20 32 25,t31¾ 24 39 - 86¼ 26½- 32 25 - 32½ 22~- 29¾ - 29½ 2'1½- 81¾ 29¼- 40¼ 3l¾- 3P¼ 31¾- 3:l~ 37 - 41¾ Repub. Iron & Steel. . . Pref ..... .............. ..... 104½-110½ 102 - 108.!,t 98¾-105½ 94 -103¾ 01 -lOS¾ 94 -105),4 92¼- 99¼ 98¼-101¾ 97 -108¾ 96 - 09 973-1;-101½ 06 -103¼ 4~ - 48 . . .... . ... .... ... . . Rn bb .. r Good8 Mf1r .. . .... .... . . .. 100 -100 . . - . . . . .,ref ..•.. .............. ..... 106~-100~ 106¼-108½ . ·•• · . ... -·· .... .... . 03 - 95 Senr11-Ro.,bnrk . pref.. ... - .... ·•• · ... - · •• · ··· ····· 78%- 80 71 - 77¼ 73).s- 79% 69¼- 80!14 69 - 81 71 - 76 ~lo11s-Sbeffield s.•1 & J. 85~- 97½ 80¾ - 93¾ 75 - 85 72 - 86 68¾- 75JJ,t 75 - 81 ... 112 -112 Pref ................... .. .. ... ... 110 -113 . - .... 106½-106~ 106 -107 .... ... 106 -106 104¼-104.U, LOS -10~ 10j -105 80 - 84 80 - 8S½ 82 - 83 84 - 87¼ 83 - 87 Texas Pac. Land Trust 64%- 83¼ 78 -80% 75¾- 79¾ 70 - 78¾ 60 - 77½ 7~ - 86½ 73½- 79 Third Avenue ....... ... . 135 - 130½ 130½-137 132 -135 125 -134 126¾-130 125¼-130 125 -126 123 -127½ 124¾-127 123¼-127¾ 121 -121½ 121¾-124¼ 82¼· 33¼ 32½- 33 30¾· 8.J: 31¼- 3231! 81¼- 32¼ 31½· 32½ 20 - 30)4 25¼- 29 Toledo Rys. & Ll11ht .. .. 32~- 36 34¾- 35).s 84 - 34¾ 29¼- 35 Twin City Rap. Tron ... 117 -122.¼ 116 -110¼ 1113 -119_¼ 112 -121¼ 109¼-119 109 -116¾ 108¼-114½ 112¼-11~ 113¼-116¼ 111 -114 100¼-111¼ l02 -109¾ ... ... .. . ... .... 150 -150 . . ... . ... . ... ... .... . ... . .. Pl'ef ............ ............ · ••· . .... .... - .··... . ... - ... .. . . ¾- l¾ Rlirhts .. .. . ........ . .... . ... ¾- 1 . ··· ····6¾-9 9¾ 8 9¼ 8¼- 12½ 8 7¼- 8½ 8½- 9!,( 5½- 8½ 6 Union Bna- & Paper ... 13).s- 16)6 12 - 13¾ 10%- 12 6½ 6 8¼ 71 - 78 70 - 79½ 70¼- 72 5J - 61~ 'iO¼- 71¼ 54 - 70¾ 52 - 51 523-1;- 61 Pref . ... . . ········· ·· ···· · 80.J.t- 84 80 - 82 77¼- 81 67½- 72 ... .... · • - ... ... ... . .... ... .. . .. - . . - • . .. . - . .. 90¼- lt4 Unit Cigar Mtrs., pre I ... 60 - 66 6J - 67¼ M¼- 62 94¾- 08 95 - 97¾ 50 - 96 58 - 68% 63 - 68¼ 63 - 08 62¼- 65 59¼ - 61¾ l ' nlted Ry8. Inv.of l!iJ.F. 88¼- 08 73 - 75¾ 70¾- 74 66 - 76% 68%- 77¾ 68 - 71¼ 60¼- 76 70¼- 72½ 67 - 7l-( Pref....... ..... ...... ..... 87 - 93½ 88¼- 98½ 89¾- 92):i 55 - 02 . ... ... .... . . . ... ... - .... Un. Uys. o1 St. L • pref. 8j)4- 87½ 86 - 87¼ 85¼ - 81 84',6- Six 85½- 85½ ... . · • •· ·•· · 47 - 52:1:{ U¾- 49~ 46¾- 49½ 46½- 48½ 46%- 50~ 45¼- 49¼ 41 ¾ - 47 4i¾- 52)-1. 43½- 53 45 - 50 U. !'ii. Cast Ir. Pipe & F 463-1;- 53 45¼- 151 Pref•...................... 9i - 96~ 92 - 06½ 01).s - 92½ 02¼- 94¾ Pl - 94¾ 01 - 05¼ 00 - 91~ 90½- 93)4 91 - 91¼ 80 - 9i½ 87½- 91 83)4- 8 .¾ ... .. . - ...... U. S. Leather ............ . 13¼- 14¼ 12½- 12½ 12¼- 12½ 11¼- 11¾ 11¾- 11~ 13 - 13 10 - 10 ··•· ·• ·· .... - .... lOa¾-102~ 113¼-115¼ 107*ll3 112 -112 113 -113 105 -105 Pref. .... ..... .. . ·-······· · .... - .. 115 -ll7 116 - 117 115 -115 110 -110 t J. "• Realty & I mpt .. . . 88 - 94½ 84½- 91 Si - 86 86 - 92 84 - 0-J¼ 82 - go 75¾- 81;¼ 75 - 80 76 - 79% 70¾- 86 83 - 89}.l 8 ; - ~8 25 - 29 25 - 35¼ 26 - 30 33~- 40¾ Si¼- 38¼ 35½- 38½ 34 - 37 27¼- 36l-\ 28 - 81 2l - 28 2! - 29ij:! U . "'• Reduc. & Rcfin'i:. 80 - 31 60¾- 68 72 - 84 62¼- 72½ 64¾- 80 70 - 71¼ 60 - 70 60 - 66 Prt>f .. ....... . ..... .. ..... 68 - 71 72½- 78 73 - 78 73¼- 75¾ 70 - 75 (4 49 49 - 55¾ 48¼- 51¾ 44½- 61½ 38 - 45¼ - 5!~ 48¾- 67 U. i--. Rubber Co ..... . .. . 51 - 58½ 47½- 50½ 48¾- 53½ 40¾- 5 % - 48¾ 45¼- 58 1 !It pret .... .............. . 100½-115 108 -111½ 108 -114¾ 106¼ •115 l05¼; -lll½ 107 -109¼ 10!¾-108¼ 107 -100~ 106½-111¾ 105 -111 105¾-10 ,¾ 105}~-108~ :l • pref...... .. ·········· 81 - 87¼ 79¼- 82½ 80 - 84¼ 76¾- Sl½ 75 - 811-t, 77¾- 80¼ 7 7x{- 70¾ 79 - 80¾ 79)1;- 81 76 - 80 75 - 78 77¼- 71i¾ 83¾- 42 (1 . i-4. S teel Corporation 42 - 4.6¼ 40¾- 46¾ 3 ,¾ - 4.LJ.f, 89 - 44¼ 36M- 42 32%- 40 39¼- 47¾ 48¾- 47¾ 45¾- 50¼ 45¼ - 49¼ 4tl¾- 49>{; - .... .. - ... - .... .... - - ... .... - - ................... - .. .... ... .... ... -- .... -- .... - .... - .... .... - . - - - ... .... ... .... ... .... .... ... -- .... .. - ... ... -- .... ... -- ... - .... .. - .... - .. ... - . ... - ... ... ... ... ... .... - ....... - ........ -- .... .... - .... ... ~ - .... .. . ... .... - .... - .... - .... - ... ... - ... .. ... ... .. - ... .. ... .. ... - .... - .... - - .. .... - P ref ...... ... ... ... ........ 105 -113¼ 105¼-113 47 - 51¾ - 117½ 113¼-115 - 15¼ 10½- 13~ - 6! 61¾- f4¼ - 94¾ 93 - 03¾ -176 161 -16ll¼ - . . . 185 -185 ... ¼- ¾ ·· ··· ··· ··· .. . . \ u..-Co r. Chemical. ..... 44 - 58 114 9 Vu lcu.11 D elinnin1r.... . .. l'rrt .... .... ·- ······ 50 \ Vestern Union Tel'gh .. 93 "CSl i ll flh • J<:l.MflloR88'l 166 lstpr,t . . .. l'ret••. .... . .. . ... .. ....... ...... ........ ... t iarh •s - 101¼- lO i¼ 101¾-109½ L02 -107 47½- 55 111 -117 11 - 12¼ 60¾- 65½ 91 - 94~ 160 -162 ;J8 - 52 101%-113¾ 11 - 13½ 62¼- 67 91¼- 93¼ 160 -164 ::16 - 43¼ t05½·111 10¼- 12½ 61¼- 66¾ 91 - 92% 153 - 15d 08¼ ·1073-1; 35 - 4.21,i 106 -111 9:),4- 10½ 6L¼- 64~ 91¾- 93½ t54 -161 180 -180 ... - .... .... - .... .... - .... - .... .... - ... . .... - .... .... - .. . ·•· · ... ... .. - .... - .... -. .. .. - 08).(-107).s 105 -109¼ 105 -108 105)4-10~>. 10! -10i¾ 10:¾-lO~ v, 31 - 37¼ 36¼- 41 37¾- 42 86¼- 4lx 86 - 42½ 35!,,a- 41 \,(~ 10! -107½ 1071,ji-lOux, l00½-111 109 -110 110 -111 106)4-110 9 - 10¾ 8 - H4 9¾- 12 6¾- 10¼ 9¾· 12 50 - 60¼ 60 - 60% UO½- C6¾ 6-l¼- 7~ 50¼- 66¼ 63 - 63 91 - 92½ 0114- 92¼ 86 - 91¾ 86 - 87 85 - BS½ 83¾- 87¾ 150)4-154 us -155 152 -156 152 -161½ 154 -160~ 150 -15i!}-.( 179 -179 . . . - . 162 -162 . . .... - . .. .. · · •· . . - ... e Kx•stock d1v1del.ld. .... ... .... - .... .... - .... . .. .... - ....... - ········ ... - ... .. . ... - 190?'. STOCKS J anuary F ebruary Aprll July AU(JUSl S eptember March June October November December Ma11 Low Hi{Jh Low Htgh Low Htgh 'Low H 1.qh Low Hiqh Low Htgh Low H1.qh Low Htgh Low H1{Jh Low H1.qh Low H ·l.yh Low Htgh ---- - - - - - - - - ------ ----- ---- - - - - - - - - - - - - RAILROADS. 88a) 72 8134 9212 85 Atchison Topeka & Santa Fe---- 9838 10814 9914105 8258 10212 8958 98 c86 963g 8614 927g 8912 95 8634 663g 7712 6878 75 Preferred 925g 8878 78 99 1015g 98 9958 92 9818 9412 9734 9213 9612 92 12 9414 92 811 :i 88 94 89 89 85 _0_1_ _1_~~14 Rights -------------- -- ----- - - - 14 - - - - - - - - --- -- -- ---- ---- -- - - - - Atlantic Coast Line RR-------- 1193413318 115 12219 94 11612 101 10634 92 92 86 80 Baltimore & Ohio ------------ - 11458 122 107581111; 901s 11058 961210212 9218 9412 90 Preferred 9314 87 8858 8818 90 Buffalo Rochester & Pittsburgh _ 115 115 --- - 95 95 Preferred _- - - - - - - - - - - - _- - - _ 135 135 13934 13934 -- -Buffalo & Susquehanna, pref. __ 85 85 83 8n84 Canadian Pacific_- - - - _- _______ 1791219512 17812 18834 1.55 18338 17112 18934 Subscription receipts- ------ - - 19434 19434 Canada Southern -------------- 6334 6512 63 1s 643s 60 6312 6012 6338 Central of New Jersey __________ 210 220 200 212 165 206 190 195 Chesapeake & Ohio- ___________ 49 56 4812 5312 3634 5034 a912 4334 Chicago & Alton- ___ . ________ _ 2412 2712 18 221 8 1434 19 15 1712 6512 69 65 -6512 59 Preferred 6112 - Chicago Burlington & Quincy ___ 200 200 210 218 115 115 Chicago & Eastern Illinois, pref. 120 120 Chicago Great Western-------- 1538 18 1512 1612 1214 1578 1012 1414 4 % debentures- _____ - _______ 17 78 7718 79 7634 78 75 75 :;-% preferred A- ________ _____ 6912 7112 6914 7134 6112 691 8 50 6212 4 % preferred B- ________ ___ . _ 2214 261 8 2 134 2378 17 2212 1514 20 70 70 Ch~ Ind & Louisville, pref __ ---------- ---- -- ~ -r rMJI~~~~~~-~ ~~ =~~!= == 14518 15712 14314 15012 1621216514 32 32 12714 13314 141 148 bl57 168 210 210 1414 1658 170 170 159 16512 _ ~ubscripf -. ., ~~rrants - _- ___ . _ 31 353s Common Cl- ., 1f1ca tes- _______ _ 130 141 Preferred certificates- -_ - ___ - _ 14334 149 Chicago & North Western- _____ 17934 205 225 234 Preferred Rights _- ___________________ 16 1818 Chicago St Paul Minn & Omaha - 160 170 Preferred ----------- -- ----- 160 165 Chicago Terminal Transfer- ___ - - 9 912 23 25 Preferred C:eve Cin Chic & St Louis------ 87 1s 9276 Preferred ------------------ 10714 10812 Cleveland Lorain & Wheeling ___ -- - - - --Preferred ----------- -- ----- - - - - ---- ----------- -- ----- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis -- ---- 9434 92 85 80 ---- ---- --- - 164 9912 9612 86 81 96 96 86 91 ---- 125 10014 77 995g 87 86 88 91 125 9512 7934 84 59 8038 9712 8818 9214 7734 90 8312 8312 80 8378 86 78 78 100 105 ---- ---------- ------- ---- 17812 16434 17412 1721217812 15934 17534 157 6218 64 170 180 3218 3614 15 18 50 54 60 6212 168 170 3034 36 918 1212 4912 5034 ---- ------- ------ - 200 200 - -- - ---9 12 1134 934 1114 1034 1134 958 1158 7212 65 65 64 73 73 70 64 4458 523s 43 4912 55 3912 50 45 1212 1738 1334 173g 15 1612 1214 15 61 633s 174 186 3134 4212 1112 16 64 651 8 175 185 3414 3612 1612 1914 51 53 ---- -- - - --- - 6 1612 7412 - --85 144 170 6014 6112 55 6014 52 59 169 177 158 174 144 155 3258 3434 265s 3314 2314 2958 818 1212 1034 15 --48-4978 4812 49 --- 205 228 --- - - - -- - --- ---- ---- 6538 7958 75 7234 121 2 8514 7734 75 ---- ---- 14818 iii1; 55 5834 156 169 26:lg 3114 141 2 11 ---- ------- ------- ---834 78 7 ------- ---- -- -- - --678- ----7 838 1018 7 9 6412 6412 50 ·64 50 46 47 51 2618 45 25 2934 21 37 50 2934 1214 1312 858 1212 812 1018 814 1014 13834 12334 13oas 12912 13658 11112 1333s 11514 12518 98121195g 931210412 9734 ioia~ 159 148 15234 148 1531 2 14512 15134 146 148 135 145 130 136 132 138 122 107 12012 Ia912 12612 13912 15534 14414 15512 220 205 205 139 7s 171 58 7012 7538 8312 75 80 68 693g 90 90 7412 7434 138 15112 0 12212 1463s 131 13914 123 145 161 148 15912 150 112 12714 116 129 14212 132 13712162 147 207 212 200 10 15 120 147 133 --- - 160 160 --- 5 7 5 914 934 10 16 2218 9 16 8512 9112 63 70 83 106 106 .. . - - - --- - - - 85 - - - - -- - - o5 95 ---- - - - - - -- - - --- - - - - 104 10078 8912 90 108 11312 11334 12234 10712 11614 12912 13414 132 1371 2 125 134 139 14 14914 1451215178 138 14834 2047g 205 205 209 197 210 - - -- - -- - - - - - ---- - - - - - -- - - -- - - -- 124 13514 125 130 132 132 115 12412 - -- - - - - - 160 160 ---612 - - - -1- ---5 -- -- - -- 6 2 5 15 20 101s 15 63 7212 63 6634 651s 6978 58 66 101 101 - --- - -- - 10012 105 - --- --90· 90 - --- ---- - -- - - - - --- - - - - - --- 115 115 --- - - - -- --- - c Ex ,- dlvid end and ri gbt.s. 85 94 1111211812 12812 135 183 195 - --- -- -110 115 90 9734 11818 12658 133 140 185 185 1014 10 14 22 22 5212 6034 6334 4978 6018 48 92 92 ---- - -- ---90 90 ------- - -- - --- - - - -- -- - --- - - - - - --- - --- 12 10 505g 5714 85 - 90 107 115 10158106 128 13134 J 1 130 14314 14734 , 126 146 ---- - -- - 185 201 --- - 124 145 --- - ------ -106 130 145 125 160 160 312 334 - -- - - --11658 1213,: ---- - -- - 137l2 140 ----. - --- ------- RAILROAD AND MISCELLANEOUS STOCKS. 115 190'1- Contlnued. January STOCKS. February March . Aprtl May June July Augmt September October I N01Jem1Jer December ~~~~~~~~~~~~~~~~~~~~~~~~ - - - - - - - - - - - - -----1-----1-- - - -1·---- - - -- Cleveland&. Pittsburgh. guar._. ·--· --·- 175 175 160 160 ·--- ---- ·--- ---· ·--- ---· ·--- ---· · --- -·-- ··-- ____ ·--- _______ _ Colorado &. Sou thern •.•.•••••. 33 387s 32 3712 2212 34 25 2812 21 251 2 2214 257s 2412 2734 21 2778 22 2458 18 22 17 1834 1734 24 1st preferred······-········· 65 6912 66 677s 5834 6634 5712 6114 56 60 57 6034 5712 6034 51 591 4 5112 551 2 421z 531 2 .u 4538 441 2 52 2d preferred .............. -. 54 5812 5334 58 44 5512 4634 49 40 47 4034 4734 4412 4734 40 451 4 42 441 2 3134 421 2 291 2 35 34 421 2 Cripple Creek Central .......... 69 73 ·-·· ---· --·· Delaware « Hudson ........... 208 22712 201 2147s 167 206 181 19314 161 19014 160 171 16614 173 147 1691 2 1521 2 1641 2 1235s 1571 2 lU 135 1331 2 149 Delaware Lackawanna&. West'n 480 510 495 505 445 490 460 474 450 470 462 46212 46512470 440 460 464 474 3691 2 455 400 410 400 425 Denver&. Rio Grande ... _...... 3512 42 7s 351s 3934 2812 3714 2812 315s 24 30 24 267s 27 2914 20 2812 2214 251s 177s 2414 16 1914 181., 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 -··· ··-· 514 514 ---· ··-51z 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 1614 1814 934 17 13 15 1012 12 10 11 1114 12 758 1012 9 10 614 878 758 83.1 714 9 Preferred 2912 39 30 3312 20 25 22 2512 19 2312 20 2212 20 2112 1718 20 18 181z 1212 111 2 10 1314 13 15 Erie··················-····-· 335s 4414 3278 373s 2I7s 3414 2234 2658 20 251 4 2058 2318 2218 2614 18 24 195a 22 1612 2038 1214 1814 1538 1118 1st preferred .... ..:· -········· 69 757s 6734 7134 57 6814 51¾ 6014 5314 5634 55 59 58 62 451z 5934 45 5134 37 46 28 401 8 3314 3734 2d preferred. . .............. 5712 67 58 6214 3434 58 3514 4134 3312 3912 35 39 40 44 2914 4112 3534 3912 2712 36 20 28 2234 211 2 Evansville&. Terre Haute, pref.. ·- -- · --- ---- --·90 92 ··- - ···- -·- - ---- ---- --·- --·- -- -- ---- ---- ---Oreat Northern, preferred ...... 164 18934 159 17114 126 16312 lJI2934 4112 123 13812 122 13214 130 1383g 114 1331412358132 1071213114 109 11638 112ss 12214 Subscription receipts......... ···- ---- ·--- ---· ·--- 122 13034 11614129 115 124 123 12958 10512124 1167sl22 98 120 9914111 11038117 Ore certificates .............. 73 85 69 78 50 7234 5614 64 4912 63 4934 5714 55 6112 44 5612 52 5818 37 5234 38 441 2 4334 5113 Rights··············-····· · .... ···- - -·· ·- - - ---· ·--- 834 1112 ---· ·--- ---- ·--- -··· ·-·- -··· ··-- --·· ·--- --·· ··-- ---· ---- ---- ·--· Oreen Bay&. Western .............. •··- -·-- ·--· ---· ··-- 71 71 ---- ---- --- - ·--- ---· ··-- --·· ·--···- ---· ··-· ---· ·--- ---· ··-· Debenture certificates, Ser A.. •--- --·- •-·· ---- ·--- ---- · --- -·-- ··-- - - - · -·-- ---- ··-- --·- ··-- ---· ··-- 75 75 Debenture certificates, Ser 8 .. 13 1412 - ··· ·--- 8 1112 934 101s 812 914 8 912 914 1112 712 812 714 9 534 812 614 634 ns 9 Hocking Valley... - ........... 115 115 ·--- 80 80 ---- ____ ---- ·--- ---- ·--- ---- ____ ---- ____ ---· ·--- 74 74 63 65 60 66 Preferred ............. ..... 8712 94 8712 90 8312 91 84 85 8312 8312 8312 8312 ---· 83 83 7714 80 6514 80 64 701 2 697s 70 JP Morgan&. Co, com rec .... -··· ···- -·· · ·--- 7538114 80 85 78 80 78 81 80 87 7478 80 75 84 70 8214 63 68 65 68 JP Morgan&. Co, pref rec. ... ---- --- 80 80 ---- --- - ---- -- - --·· Illinois Central ...... _......... 158 172 155 16214 134 155 145 1491213412145 135 144 I4Jl8145 128 141 134 142 118 1351 4 116 125 1:,,0 127 Leased lines stock........... 9912 9912 9814 9814 --- · ·-- 92 92 93 93 90 90 --·• Iowa Central ........ _....... . 24 287s 2312 2534 18 2J1 4 18 191 4 18 1918 1734 19 17 1834 15 171 2 1514 , rns8 12 161 2 912 12 10 1214 Preferred 43 51 43 4534 3013 43 34 3812 3678 42 3834 4J12 3&34 397g 3412 3834 35 4012 3734 3918 ---· 29 30 Kanawha &. Michigan....... .. . ... ·--- ---- ·--- ---· ·--- 50 · 50 ---- ·--- ---- ·--- ---· ·-- - -·-· ·--- ---· ·--- 30 30 ---- ·--· Receipts .. .. .. . . .. . . .. .. . . . 63 63 50 50 ____ _--· ··- ____ • __ __ _ _ _ _ _ ____ -·· ___ ___ _ • -· __ _ _ _ _ • ___ ---· ·-·- _ __ _ ·--· KC F S &. M, tr ctfs. pref...... 78 80 78 79 74 771? 76 79 75 7612 70 7334 73 73 70 73 73 73 60 65 60 65 6312 65 Kansas City Southern. ........ 2613 3034 27 2914 18 28 • 23 2734 23 26 2418 2512 2534 277s 2212 28 2412 273s 1934 2534 2012 2358 22 2412 Preferred 56 6134 565s 6114 45 5834 52 6Flll 5758 607s 55 6058 567s 5834 491s 57 531s 5634 48 548.1 48 5J1 2 51 54 Keokuk&. Des Moines ......... 11 11 10 10 ---- -·· · ··-734 8 ---· ---778 77s ---- ·--8 12 9 - - -· ·-·4 7s 5 4 6 Preferred ·· - - ---- ·--- 3712 3712 ---· ---- ---- ··-- ---· ·--- ---· ··- - ---· · --- --- - ·- -- ·--- ·--- ---· ·--· Lake Erie&. Western ......... _ 27 2812 2313 27 1914 241g 2014 25 20 20 ---- ____ ---· ____ --- · ·--- --- 1114 15 11 12 11 12 Preferred ---· ·-·- -·-· ···- 57 61 55 6712 65 65 ---- ---- ---· ·--45 4512 40 40 3934 40 ---· ·--· Lake Shore &. Michigan Southern . -- - - --. . - - - - --. - - -- - -. . . - - - -. - - . - -- -- -. . - - _ 300 300 - - - • - - - - - - - • • . - - - - - • • - - - . - - . - - - • Long Jsland .... -········-··-· 61 6712 62 63 52 60 52 57 5412 55 45 50 45 45 ____ 30 40 26 35 Louisville & Nash ville .... _... _ 1337s 14518 12612 13612 108 12878 116 12114 109 12014 10912 11614 1J214 11814 103 1121 2 1053s 11014 9012 106 8512 971 4 89 96 Manhattan Elevated ..... . ... .. 14112 14334 14212 146 129 143 134 13912 1331s 14012 130 136 131 133 110 1327g 115 122 1007s 11812 10,5 11314 112 120 Mexican Central ............. -• 221s 2758 221s 251g 15 233s 21 2318 19 221 2 1912 2034 20 2134 1512 201 2 rnas 1934 14 17 12a4 1434 mas 151 2 Michigan Central. ........... ·- ---· --- 125 125 · --- ---· -- -- ---- ____ ---· ---- - - -- ____ ---- ---- ---- ---- ---· ·--- --- - ··-· Minneapolis« St. Louis .... _.. 5634 59 54 5712 49 5514 48 5014 46 503s 4112 43a., 39 4234 38 4134 3712 4134 30 401 2 ---- ____ n 12 251 4 Preferred ···- · ············- 87 90 90 90 86 88 ---· 8012 831 2 7712 82 7612 7734 7G34 791 2 71fls 791 2 7412 741 2 6'.;12 691 2 Minn St P « S SM ............ 108 1401410712125 97 121a4 104 11018 90 10534 94 1081 2 103121os18 931s 10434 9814 106 1 60 951 4 68 751 2 '7212 s 11 2 Preferred .................. 140 168 1361414912 123 146 12912 141 1251s 135 12612 137 136 13934 lH> 130 127 1~4 110 1293 11534 120 11612 12212 M~~~~~~ -K;~;;;·&·T~;;;====== 18 3512 4134 3534 4412 3014 445s 3434 3734 3014 3712 3012 341 4 32a4 401 8 32 391 4 33 3/ 2 1 2'..::~ M:!41-2034 ii- 24 2112 53 57 555s 5914 Preferred ··········-······· 6912 7234 685s 717s .'j9 70 637s 6634 6134 661 4 6212 641 2 645g 6778 597s 67 6314 661 4 54 65 Missouri Pacific······-·······- 86 9234 78 87 64 8014 727s 773s 7112 765s 72 77 7334 77a8 63 74a4 67 717., 48 6734 4412 571 4 44 1s 56 Morris &. Essex......... ...... 179 179 --- · __ __ 1671, 1671~ ______ __ 155 155 Nashville Chattanooga« St L.. 136 147 13312135 119 130 123 131 131 13112 -- -- ·--- 125 125 120 121 120 120 108 - nm 2---- ____ 9 7 100 National RR of Mexico, pref .... 5212 593s 5412 5614 4834 5612 52 54 52 52 4914 4914 50 5214 4634 5012 47 4812 4414 441 2 3912 391 2 40 4412 ,2d preferred· ···-··-········ 2434 2612 2434 27 2038 2318 2112 2112 21 21 15 161 8 17 17 1312 151 2 13 13 11 161 2 N Y Central & Hudson R.iver .... 125 13434 124 13012 111121257g 116 12134 109 1195s 1081411414 11012 114¾ 9912 111a4 10114 10714 9334 10334 9112 9934 89 9934 NY Chicago&. St Louis- ....... 58 6312 351s 55 37 45 35 427s 36 40 37 40 29 38 32 3934 1934 34 2014 2478 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 N Y &. Harlem ............ --•··- -· ··-- ·-·· 365 365 ---· ·--- ---· ____ -·-· ·· -- -- - · ____ ---· ·--- --- · ··-- ---· ·--- ---· ·-- - - --- ---· 1 NY Lackawanna&. Western .. _ ---- 124 212412 -- ----- - --- ---- ---- ---· ·--- ---- ---· NY New Haven&. Hartford .... 18414189 1797sl85 17314182 175 179 16414172a4 15912165-34 16212l68 158 165 14012160 129141421 4 1273sl38I 2 131 140 Rights· ···-··············-· 134 3 27s 414 NY Ontario&. Western ..... _.. 4212 48¾ 427s 457s 3412 431 2 3734 391 2 31¾ 381? 32 371 4 3514 381 4 307s 36 3212 341 8 28 3258 2814 311 2 311 4 3414 Norfolk & Western.... .. . ..... 8412 9214 83 87 71 8434 74 801 4 723s 791 4 7J12 76 74 77 68 741 2 6912 7214 56 71 61 651 8 6112 657s Preferred 88 9012 82 85 80 827s 75 75 80 82 8412 841 2 77 84 84 84 70 83 70 70 75 77 Northern Pacific ......... _... . 149 18912 14412 1553-1 11414 14634 12612 139 120 13712 1197s 13014 126 1375s 113 l325s 121 13414 10012 13234 10212 111a4 10912 12134 Subscription receipts ........ _ ·-- _ 12512 134 110 1271 4 114 12114 10612 11s1 2 107 11212 10812 1141 8 9612 112 104 11112 9Fs 1101 8 9112 102 10112 10734 Rights ................... __ 17 2334 - - - _____ . _ _ _ ___ - _ _ _ _•. _ • _ _ _ _ _ _ _ _ __ _ _ __ _ _ _ _ _ _ __ ___ . _ _ __ _ _ _ __ _ _. _ _ _ __ • _ _ _ _ _ _ _ _ __ _ Pacific Coast Co ............. . 121 1241s 119 12034 90 100 95 9934 95 987s 94 9878 9812 9934 85 021 2 80 90 75 84 56 71 71 7934 1st preferred ............. _.. --· · ------- ---- ·-·- ---· · --- -··· ·--- ---- ---- -·-· --- - ---· ·- -- --·· -- -- 65 76 2d preferred .. - ............. 115 12412 113 115 95 125 993410414 -·-__ __ 10134 102 90 9212 91 911 4 --- - ____ l<J 88 Pennsylvania R.R. .......... _.. 12912 14138 127 1327s 114 12914 122¾ 12isas L181s I285R 11714 122a8 12J3s 1255s 11434 12234 1181g 1215s 10612 1201 2 10312 I 1114 lOS'>s 11534 Peoria&. Eastern· ······-· ·· ··· 30 30 18 2212 25 26 20 22 20 20 25 25 !W 20 15 15 15 15 I O 15 Pitts Cin Chic &. St Louis... ... 733s 78 73 75 67 7212 697s 7214 66 71 6712 68 65 68 66 67 51 661 4 53 601g 60 63 Preferred 105121051 2 100 101 9312 98 95 95 9312 94 91 91 95 95 -·-· ____ -··· ____ 6llt2 82 743-1 SJ 811s 86 Pitts Ft W « Chicago, guar. ... --·- ---- ·--- 168 168 ---- ·--- --·· ··-- -·-· ·--- ---· 163 163 -- - - ·--- ---- ---· Railroad Securities, Illinois Cen• 86 88 ____ ---· ··-- 84 84 ·--· ---- ---- ____ ---- ____ --- - ---· tral stock trust certificates.:.. Reading ..................... 119141391 8 11214126:JF 91 1261 2 103 114 961s 11538 97 1011 4 1001210878 8514 1031 2 90 14 98~8 701? 951 8 7'.?12 90J8 8738 9 71 2 1st preferred ................ 8912 92 88 9012 84 89 84 861 4 80 8412 80 82 79 8112 7978 8112 80 82 73 - 84 73 771 ~ 74 75 2d preferred ................ 90 94 88 90 83 90 83 85 7712 83 7812 82 7934 80 75 75 75 80 67 14 75 67 69 • 74 76 Rock Island Co ... .. ~······-·· 251s 301 8 2314 271 8 177s 2478 2034 23n8 1814 2238 1sa4 221 4 207s 221 2 173s 21a4 1838 2 114 1:,12 19 1114 141 4 1334 16 50 42 4838 4014 4734 4312 4634 34 Preferred 5838 641 2 5J12 60 4034 561 2 46 511 2 42 451 2 46 451 2 2612 351 4 2712 33 Rome 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 6&34 59 62 67 67 62 62 65 68 6534 6534 60 60 64 64 58 6012 60 60 2d preferred . . . . . . . . . . . . . . . . 42 4838 39 44 29 40 3412 39 29 3534 30 36 3514 3838 3018 371 2 3412 3938 2712 3612 24 30 28 30 C & E Ill, new stk trust ctfs.. .... 71 71 60 65 63 63 60 60 60 621• G3 63 63 63 --- - ---- ·- -· St Lou!s Southwestern ......... 2234 2512 2134 2434 18 23 195s 233g 19 21 1914 :.!058 1934 22 1512 20 1558 1814 1212 1714 11 1412 J 434 1512 Preferred . 5312 6012 5414 6212 4514 55 51 57 50 561 4 4734 521 4 4634 5214 40 48 40 14 49 2512 47 25 30 28·>s 31 Southern vot tr ctfs stamped ext 247s 34 2412 2758 IY34 251? 201s 233.1 17 221 4 171? 2038 19 2078 145s 191 2 15 1634 11 151 4 10 13 12 1s 15 Preferred do do .......... 841s 941 2 74 8534 70 7912 63 7212 53 6712 5614 71 6212 69 50 1s 6412 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 8934 953s 6934 9134 7634 861 4 b7334 8734 7'.!34 8().~4 7634 915s 7934 9014 835s 8714 6314 8418 6414 7334 701 2 7718 Preferred 1163411818 11112111, 8 112 1171 2 114 117 bl0914118 110 1141 2 111 113 1081811212109 11112 100 11014 101 10734 107 110 5s Il4 Rights· ····-··· ··· ········· --- --·· --- - --- · ·--- ---· --·34 1 -·- · -- -- --- · ·--- --·· ---- ---· ·-·· Preferred subscription rects-. -··· ·--- ____ ·-· - ---· ··-- ---· ___ _ --·· ··-- 1063sllOl4 l0958112 10758 11112 ·-- - ---· -·-- ---- ·--- ---· ·--· Texas Central ................ ·-- · ____ ·--- ---· ·--- --·· ·--- - --· ·--· 50 50 ---· ·-·- --·· ---· ---· ··- - ---· ··-- ---- - --- - --· ··Preferred 85 85 - - __ - - - - - - - - - - - - • - - _ - - - - - - - - - - . - • Texas &. Pacific ............... 3114 371 8 32 35 2434 3314 2734 2978 25 291 2 2514 311 8 2834 32 24 3038 2512 2914 1734 2514 1112 11J12 19 21 Toledo Peoria&. Western....... 1714 1714 ------- --- - ·--- ·--- ---- ---- ---- ---- ---· Toledo St Loms & Western- .. _. 3012 33a4 2834 321 4 2334 2934 2712 3014 2812 30 27 2718 2612 2734 24 267s 23 7s 2612 1912 257s 17 12 Li:l.1 1634 I Preferred 501 2 53a4 50 5238 45 511 2 511s 5478 4934 5378 4814 501 2 487s 5034 40 4934 45 4814 30 4558 2\;ii4 3434 30:J4 3012 Union Pacific .. _........ . ..... 16878 183 168¾ 17714 12014 111a4 132as 14834 13158 15078 12858 1391 2 1355s 148 12012 14418 12514 1341s 100 1293s 10634 1 Hi 14 113 18 l'.!034 Preferred .................. 92 94 90 91 86 91 8534 8834 87 96 84 87 831s 85 75 83 78 8212 75 8212 75 8J 70•'8 81 Vandalia .................... 93 93 8512 90 85 851s 85 85 ---· ________ ·--- ---· ---- ---- ·--- --- · ---- ---- ---- ---- ---· --·- ---Wabash 161s 1s1 2 1514 17 1212 1514 14 15 IFs 14 1218 1338 1314 14 105s 1314 10:J4 125g 8 1114 f- 1s 9;4 9 liJ 7s Preferred 31 3g1 2 291 2 341 4 211 2 311 4 241 2 27 2178 2634 22 25 24 26 1934 2434 19 22 1434 20 14 18 161? 1G3s 19:4 Western Maryland ............ 25 3012 30 30 19 19 15 15 15 15 15 16 15 15 12 12 6 9 8 912 l..1 1·> 143-1 Wheeling « Lake Erie ......... 1234 1634 1112 13 912 1234 12 I33s IO 11 1012 1:.! --·· ---81? 11 878 1012 6 834 6 1• 712 u~; 1, , ., lit preferred ................ 3112 37a4 28 33a4 22s8 301 2 25 30 22 26 25 26 26 28 2Il4 2414 21 25 13 20 13 12 16 14 12 18 4 w~::o~1:i~e' c!~tr~============= ~~:: ~!;! ~i ~f Preferred 447 511 43 47 EXPRESS \dams ············-········· \merican ............. -··· ... United States ................. Wells. Fargo &. Co ............ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 8 290 290 235 247 110 117 280 290 2 290 228 105 •••• 295 235 105 ···- it 36 ~g1 2 i~ 46 39 280 280 200 228 100 105 270 270 -··· 210 100 255 ii 41g i;: i:1 8 i~1 2 42 36 40 36 -·-210 11134 260 285 209 95 250 297 212 100 275 295 211 98 290 330 230 11414 300 /; E1.- rights. -1634 -iii; 4:> g;: g 15 4034 3012 31:,12 38 165 165 215 215 10814 111 285 285 150 165 180 21514 85 105 280 280 165 202 --· --- · -1-51~ 1~12 i~1, I~ 39 28 39 - 30 i;:; 1:12 g19 30 31 ~ 35 165 160 165 161 165 165 165 202 175 200 175 180 18014 18014 ---- 78 89 7s 70 75 75 90 ·--- -·-· ·--- ··-· ·--- ···- ·--- MISCELLANEOUS STOCKS. 116 1907'-CJontlnued. January STOCKS F ebrUary March April May June July August September Octo ber November December Low H1.gh Low H1.gh Low H1.gh Low H 1.gh Low H1.gh Low H1.gh Low H1.gh Low Htgh Low H1.gh Low H1.gh Low H1.gh Low H 1{,.1 - - - - ---- COAL AND MINING ---- Prtces of mintnu stocks of par value of $25 or less are dollars per share, others per cent. Par. Alice Mining_- - ______ _______ _5 614 71t 6 612 4 514 5 512 4 412 3 414 4 414 4 414 -- - Amalgamated Covver-- ----- 100 1103s 12118 1081211512 7812 lllls 89 991g 8334 9814 8034 873s 853s 94 65 86ts 5614 7412 4134 American Coal ______ _______ _25 145 145 146 146 140 140 - - - ------533g 5814 55 Anaconda Copper a _________ 25 26912 29112 269 30234 a 53 741g 59 64711 55 65 251g 393g 29711 3434. _257g 5514 3534 48 6114 42 Balaklala Copper- ___________ 10 - - -- - --- - -- - --- - ---- --- - - -- - ---- 834 93g 718 934 812 11 512 834 51g 712 3 512 112 412 134 Batovilas Mining ____________ 20 - --1 91g 634 512 712 53s 734 3 7 8 634 314 5 3 84 -- - - --- - - --- - --- --- - 734 Colorado Fuel&. Iron- ------ 100 4612 577g 42 5012 29 447g 3312 38 2712 37 28 3212 30 3334 22 31 1714 2612 1414 20 14 1712 17 Preferred -- ---- - ---------- 100 85 8512 ---65 65 40 75 4014 31 35 35 35 --- 57 , 57 55 60 2434 2514 65 20 22 Columbus & Hock Coal&. lronlOO 241g 28 2838 2112 2712 2114 25 1912 2434 205g 2414 1514 22 25 15 2534 25 14 19 Comstock Tunnel-- __________ - 2 30c. 50c. 29c. 47c 23c. 34c,. 27c. 40r. 25c. 35c. 25c. 34c. 25c 27c 23c 25c 22c 25c 20c 30c 19c 21c ---18 18 ---- -- -- 15 1st income 4s-------------- - 22c. 22c. 20c. 23c. 18c. 1812c. 18c. 20c. 16c. 16c. - -- 15 85 86 86 Consolidation Coal --------- 100 9712 9912 9312 9312 - - - - ---- - -- 80 85 90 ---- ---- --- - - 60 Granby Cons Min Sm&. P--- 100 129 131 12814 152 120 145 125 136 1251-1139 1171g 12512 126 12714 100 115 80 90 90 70 90 70 Homestake Mining _________ 100 72 85 85 - -- - - --- 56 5512 70 7212 7212 73 14 70 7012 72 54 75 71 7212 54 GO 60 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 412 412 114 114 - --------- 3.50 3.70 2 .35 2.35 ---- ------New Central Coal- ___________ 20 --- - --- ---- --- - - --- ---- ---- --- - --- --- - ---- --- - 25 25 --- - ---- ------- - 1812 1678 143s 1812 10 Newhouse Mines &. Smelters - 10 - -- 195g 14 15 75s 1134 534 9 2034 15 512 8 5 -Ontario Silver Mining _______ 100 434 838 63g 85s 5 414 414 43g 418 3 5s 4 5 7 3s 434 614 4 3 12 312 212 312 ---- ---213 12 Pitts Coal of New JerseY-- -- 100 153g 167s 14 16 1512 11s8 13 1112 1212 11 1018 7 · 91 8 8 1134 11 1112 734 1os8 9 1012 8 Preferred __ -- _____ _____ __ _100 56 6()5g 55 5834 49 57 5114 55 515s 54 48 52 555g 50 52 5112 481s 5012 381g 5014 37 43 371& Quicksilver Mining _________ 100 7g 1 ---- ---7s 34 84 34 7g - - - - --- 7g --- 7g - - - - - --lls Ils ---34 --- Preferred _______________ 100 15g 134 15s 134 -------------- -- ---Standard Mining ____________ 10 2.90 3 .70 3.25 ---2 2 1.90 1.90 214 214 2 .10 2.40 ---- ---- ---3.30 2.40 3.00 2.45 2.50 2.40 2.50 ---Tennessee Coal & Iron- ____ -100 154 162 145 1553s 130 147 135 1473g 136 14814 1391214012 140 143 135 135 -- -- 130 135 98 135 - _- _ ~,igh ts - - - - - - - - - - - - - - - - - - - - - ---- ---- --- - -- - - --- - ---- ---- ---- - -- - - -- - - --- --- - - --- ---- ---- --- - ---- ---- 214 3 ---- ---- ---Tennessee Copper-- ________ - 25 30 50 40 3634 28 17 5112 347s 5312 3812 4034 357g 4114 3512 3812 37 37 3Fs 22 27 24 ---Utah Copper- - ----- ______ ---10 19 1518 -- - - - -- - --- - 24 3912 2612 3134 2412 303 25 2812 265s 32 2112 28 21 2412 13 22 1334 62 45 62 Virginia Iron Coal & Coke---100 77 97 6714 90 55 66 68 50 7314 653s 77 65 31 55 5014 31 5s 3812 3712 71 4 60 --- ------- - ---- ---- ---- 34 :Jig 41g 22 19 80 61 734 218 101 ? 4412 ---- 28 203g 41 VAl{IOUS. 1312 167s 1234 1518 10 Allis-Chalmers 91g 5 10 6 14 14 Ills 1218 91g 117s 9 5s 107g 934 117s 4 714 5 534 512 65g 271g 30 Preferred 303g 1512 27 141g 22 25 27 3414 4334 34 391g 17 3412 28 3512 26 14 32 25 14 16 I E, 17 American Agricultural Chemical 23 253s 2212 25 1514 1914 1514 1812 10 15 19 20 2312 20 21 15 20 1714 16 16 1012 1334 I] 34 13 Preferred 825s 825g --- - - - - - 75 95 9012 91 - -- - -- - - 85 95 85 7712 78 75 75 75 American Beet Sugar __________ 1912 2312 1812 217s 1412 1914 15 177g 1014 16 11 14 1014 147s 1112 1312 8 15 16 1112 734 934 8l4 1012 Preferred - - - ___ - _____ - _____ 80 80 - --75 75 75 75 43g 31g 33,t 312 --414 514 7 512 712 514 634 5111 55s 514 534 414 514 41g 434 3 American Can----- -- -- ------- --- - ---Preferred 5134 6012 53 5212 48 50 36 4814 55 49 34 42 391? 411 ? 5512 52 54 14 5212 5512 43 American Car &. Foundry ______ 411s 4514 4112 45 31 443g 351g 383g 34 3914 3734 433s 4212 4412 35 14 43 421g 243g 37 36 24 5s 28:Js 2634 3358 Preferred __________________ 10012103 101 103 92121027g 97 9934 9812 . 100 97 99 9734 101 93 10012 92 9914 78 94 80 85 8314 901g American Cotton Oil ----------- 2912 3214 30 337g 27 3214 2914 317s 2812 3112 2934 317s 31 3612 2912 347s 31 34 23 321g 21 2634 26 2912 Preferred ------------------ 90 90 8812 8812 88 8812 86 88 9212 87 85 82 87 90 8.5 82 70 80 80 80 20 20 American District Telegraph ____ ---- ---30 30 ---- 3 American Orass Twme_________ 612 814 614 734 51g 65g 534 634 512. i1; 512 6 3 57s 61g 334 518 414 5 5 4 3 14 41 8 37g 4 4 4 ,_. 47s 4 234 312 212 312 31g 334 American Hide & Leather------ 512 614 5 512 414 512 47g 5 4 412 3 1s 4 1012 125g 12 16 2112 18 1973 1sss 2012 1512 1914 15 15 1712 10 Preferred ------ ----------- - 2412 3012 2412 29 20 2512 2012 22 15 American Ice Securities- _______ 85 88 80 86 76 831? 72 62 7134 50 7012 50 32 83 65 75 57 5334 Sis 3I7s 1012 1218 123s 2212 63g Sts 912 llls 7 8 7 9 9 American Linseed- ------------ 16 1914 1612 1734 1214 163:; 12 1512 10 1414 934 10 734 734 9 Preferred _ __ __ __ __ __ _ _ _ _ _ _ _ 335s 36 32 35 2412 221i 25 17 22 24 27 30 19 2014 1612 1834 1634 1734 1714 18 25 33 24 27 3214 40 American Locomotive-- -------- 70 7434 70 7/j,'l4 5534 7212 6034 6634 5512 6412 545g 6014 56 6012 4912 57 4934 55 35 52 34 3934 Preferred ___ __ __ ___________ 1091411112 11012 11034 101 11012 105 110 10512 110 103 105 1041210612 98 10612 9914 102 83 9912 84 9312 8512 89 American Malt Corporation _____ ---- --- - - - - - --- - --- - - - -- 712 712 5 412 - -- 312 3 12 -- -312 412 4 514 212 4 312 312 1 1914 21 17 17 4 20 1812 185s 2114 Preferred ------------- ----- --- - - --- 40 40 297g 35 30 3112 ---- ---- 22 2234 23 2334 22 22 American Malt Tr Co ctfs- _ - ____ - - - - ---- 314 312 - -- --- Preferred Trust Co ctfs _______ 24 2512 231~ 2414 --- - --- - ------American Pneumatic Service- ___ 28 28 21 21 ------- 60 ----- 75 75 78---- 8734 --8734 91 91 - ---American Smelt Sec, pref B- ____ 92 931g 9134 9134 86 9012 907g 907g 90 93 90 90 857g 75 American Smelting &. l{efining __ 1415s 155 13812 14658 10414 14014 11914 13s14 11134 13678 1127s 12014 11212 12214 90 1137s 84121033s 6114 891g 5814 73 665g 791? 'Preferred _______ ______ _____ 11312 1173s 112ss 1153 100 1141 104 1091 10414 1091 1031 1011 1041210812 92121051g 9512 101 8134 97 8312 90 8912 92s;; 2 8 2 2 8 American Snuff _______ ________ 19712205 ---- -- -- 205 205 --- - --- - 195 195 2 --- - ---- 19212 19212 150 · 175 150 150 150 150 Preferred - __ ____ ______ _- _- _ ---- _.___ ---- ---- 99 99 8212 8212 75 75 70 95 100 1 9914100 102 102 70 45g 6 American Steel Foundries- ____ - 834 1034 814 934 71g 812 8 512 7 9 512 8 634 712 7 8 6 714 434 7 i-' 7 Preferred - _________________ 4112 4712 42 4414 34 42 37 40 35 39 34 3714 3714 41 32 41 20 2834 38 23 35 3112 27' 31 American Sugar Refining Co- ___ 12914 1363s 12918 1371 2 11478 13138 122 12118 11978 127 119 12218 121 12434 10712 12:l 109 11534 97 1123g 995s 107 9234109 Preferred __________________ 13014131 129121 3 1 122 12812 124 125 124 125 ---- ---- 125 126 118 12012 11578 118 108 117 106 11012 106 110 American Telegraph &. Cable Co- --- - -- -- 85 88 75 8014 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 c10412 110 109341093~ 88 10234 8934 100 99 105 American Tobacco (new) pref __ _ 96 9834 9412 97 8412 92 743g 8612 77 8612 9512 9012 931g 91 1 931s · Yl 93 8134 60 7812 60 67 6614 75 American Woolen Co ____ _____ - 3034 3612 3012 33 251g 2812 2Ils 2612 203g 2412 11 24 321 2 2s 311 4 241s 30 I 24ss 26 201~ 121g 145g 1334 1714 9034 9134 691g 857 9912 1027s 997s 1001 95 993 9512 98 903s 951 90 9114 85 91 88 89 68 73 7934 8114 2 4 8 Preferred - - - - - ------- -- -- 4 Rights - _______ _____ ________ 2c. Ile. __ ___ ___ --- - - -- - - - - - ---- -------103 98 98 Associated Merchants, 1st pref-- ---- ---- 105 105 100 10614 103 103 103 ---- -- ----- 10-3s 12 11 1412 9 1212 105g 14 9 8 12 Bethlehem Steel Corporation - - - - 1812 2012 18 1812 1014 17 11 11 912 8 iiii; 13 14 10 Preferred - _______________ __ 56 65 50 45 40 30 3712 32 50 49 49 32 2812 35 23 51 40 2812 23 23 Brooklyn Ravid Transit- ------- 717s 8358 69 7534 4514 1018 53 6312 48 621g 48 M5s 5512 6012 3714 57 14 423g 4914 29 4812 2634 3414 327s 4134 997g 10434 80 80 Brooklyn Union Oas-- --------- 110 111 11212 12112 108 116 110 115 105 125 108 10912 106 110 83 80 91 85 1214 1334 10 10 10 10 10 10 IO 6 Brunswick Dock&. C ImvL ---- 14 14 1334 14 11 1314 12 13 JO 6 6 7 6 8 Butterick Co - __ _______________ 49 491g 351g 31 33 41 421? 42 30 36 39 31 3212 27 25 4834 3712 43 27 27 2.5 25 2214 2412 1614 2212 1612 19 14 1234 1634 1I7s 143g 14 3434 38 351g 40 25 3714 2712 32 20 24 J 71.,1 Central Leather--------------2934 21 Preferred - _______ ___ _______ ---- --- -------- ------- ---- ---- ---- ---- ---- I 1 ---- ---- ---- ---- ---- ---- ---- ---- ------- ---- ------· ---------- ------- ---- ------ --- ---- ---------- ------- ------- ------ ---- ------ ---- ---- ---- ---- ---- ---- - ---- ---- ---- ---- --- --- - ---- 99 10112 100 102 89 1007g 95 99 90 97 8912 93 Central , South Amer Telegraph 13412 138 13812 143 115 120 358 4 512 4 614 21s 434 3 4 7s 534 412 57g Chicago Union TractionPreferred - ________ ___------______ 16 193s 15 1712 1112 1512 1334 19 I 1314 16 1534 1714 334 Trust Co ctfs deposit-- ------- --- ---- 334 334 3 Pref Trust Co ctfs deposit---- --------Connecticut l{ailway &. Lighting - -- - - -- - ---- ---- - - - - - -- - --- Consolidated Gas- _____ __ ______ 133 139 133 140 110 14014 12312 13414 111 13712 11312 121 Corn Products- -- _____ ____ ___ _ --- 1.5 15 - - -- - - - - ---- -- -- - - -- - --- --- 151g 20 Corn Products Refining ____ - _- _ 2214 2434 21 2334 173g 22 1578 1712 19 21 Preferred ______ ____________ 8234 88 8514 88 78 8712 7712 8114 7112 777g 71 73 1 801g 7712 7912 6514 77 6634 70 61 75 4 6712 71 Detroit United RY-- -- -- --- -- -- 79 Diamond 1'\atch-- _____________ 12714 12714 --- - 12312 125 -62 67 Distillers' Securities Corporation 6912 75 70 18 78 76 14 6812 737g 61 7112 62 Distilling Co of America, pref ___ 75 75 ---72 73 --- - ---- --- - ---Federal Mining &. Smelting _____ 160 163 144 149 137 147 136 136 Preferred - ___ ______________ 92 97 92 9512 80 9012 84 8214 85 13212 85 89 Federal Sugar l{efining ________ _ --- - --- - 42 60 54 60 55 6212 54 I 55 Preferred __________________ 76 8512 80 SOis 90 8434100 83 eneral Chemical- ___________ __ 7434 7512 701? 7012 64 64 70 70 ~J - 101 10012 102 10212 10212 971 2 102 l"eferred 9812 98 98 98 era! Electric- - _- _- _- - - _- _- - 15514 163 156 16134 13(h 15834 145 150 135121487s c136 14212 1 134 - - - ---- - -- - --- .. ---- llz 2 _igh ts - - - - - - - - - - - - - - - - - - - - - 11 12 Havana Electric- - ____ ___ - _____ 43 47 42 3314 45 47 30 3514 30 30 83 8612 82 Preferred 8434 77 72 85 73 77' 77 - -- H B Claflin CO--- _____________ 103 103 - - - - 102 102 106 106 lngersoll=Rand- _- _______ - _- _- _ 60 60 4914 52 55 55 52 52 52 52 9414 9412 9312 9312 92 Preferred 92 9212 93 93 93 Interboro-Met vot trust ctfs- -- - 3234 39 3214 3614 221g 335s 2434 27i8 1812 265g 15 183s 7012 7514 6912 7212 52 621g 4212 5012 Preferred 6812 5814 63 51 lnternat 1"lercan Marine stk tr ctf ---- --- ------- 712 24734 7 77s 7 81g Preferred 20 23 1812 21 2278 International Paver----------- 1514 1812 15 1734 13 1612 1334 1514 1114 1458 12 1334 7912 so18 7412 7918 73 715s 75 14 701g 7418 71 Preferred - _- -- ---- ---- ----- 7934 81 International Power----------- 48 5034 4534 4734 40 47 43 4434 43 43 43 4412 3314 3612 25 International Steam PumP----- 3414 41 27 · 22 24 3312 26 3114 23 7712 797s 7412 7912 77 Preferred 7812 8 1 7412 68 72 7934 70 6912 48 48 Knickerbocker Ice (Chicago>---- 40 ---- ---- ---- --- ------- ---- ---- ---- ----1 ------------------ 91 94 83 9214 80 87 73 75 7212 7634 8112 68 120 120 --- - 110 1103 10412114 105 105 ---- -- -35g 358 258 258 3 - -- - ---- - - - 17 17 14 14 1414 -- 7 1014 218 3 34 214 3 212 334 134 212 134 212 23g 212 3 q 17 17 14 1412 ---- 7 14 ---55 5712 -- - - --- -- - -- - 801g 1161412212 ,. 9912119 9614 107 74 10212 96 90 9"S-34 ___ 6 - -- - ---- ---- - - - 6 -- - - - - - --1s18 115.s 1738 13 17 l3l4 1512 8 834 11 1034 12 72 641g 48 73 627s 7214 6412 67 46 53 52 57 6 12 6812 63 32 647s 6212 6312 32 14 63 32 3134 :,,12 125 125 113 113 114 114 - -----6412 6914 41 4312 65 3734 545s 377g 431g 25 5034 58 56 57 - - - - --- ---- - --- ---- ---135 135 9512 121 95 50 51 96 85 5414 ---82 83 85 71 7334 47 70 5112 5812 60 70 71 60 6212 50 55 5414 5414 --- 85 85 ---- ------- - - - - --- 64 64 63 63 50 53 - --95 95 82 90 8934 90 - - -- --- ---- 85 90 13534 141 120 138 12& 130 8912125 10312 11614 10712 118 13g 1 ---- --- ---- --2412 - - - -- --2412 ---- --- - ---- ---- ---75 75 --- - -- -9934 9934 --- - ---- - -- - ---- ---- ---- ---- ---- ---- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ---- - - 151g 43 714 20 1314 7112 4318 2212 72 1812 4714 7 14 2212 1514 72 431g 25 7512 8 2012 6 15 11 14 7112 40 19 6612 - ------ ---------------------- ---- ---- ---- - --9134 91 91 87 87 1512 4334 7 19 1412 73 44 24 72 ---- ------------- ---- ------- ------- ------- ------- ------- ------- ---- Preferred - ------ ______ ----- 6514 6814 75 75 Laclede Oas, preferred- - - - _ - _ - _ Mackay Companies------------ 71 7514 7114 7434 6212 7~8 671s 70 67 7212 69 703s 63 70 6912 6714 6912 68 Preferred ------------------ 69 71 a Prices tor Ana conda Copper p er cent In Jan. and F eb. and do - - ---- ---------- ------- -- -- --- ------------- ------ ---------- ------- ------ - 91 ---- ----- 81g 24 6 16 13 70 40 20 70 50 65 105g 31 6 175s 15 7212 4134 .?.f\ i.:1,., 47g 15 412 11 9 601g 38 8 50 5112 21) 67 65 97s 26 5 151g 13 71 1s 405s 2134 70 30 65 5 14 412 10 712 51 35 814 50 ·--- ---- ---- ---- ------- 6 181? 412 121? 1014 62 35 1214 5712 78 63g 17 534 15 814 51 --- 1014 57 12 82 81? 227 173,t 93g 57 - -- 1334 6534 90 90 6414 6714 66 7012 59 6812 60 6512 40 43 5034 5014 5512 61 6114 51 59 6712 60 50 55 58 Ga 64 65 67¾ 651: 68 C Ex dlvid end a nd rl ghts. liars per sh are!orrem alnder or t he year. RAILROAD AND MISCELLANEOUS STOCKS. 117 1901"-Conclude d . January February March Aprll May Ju~ July Augmt September October November December Low HwbLow HwhLow HwhLow HwhLow HwhLow HwhLow HwhLow HwhLow HwhLow HwhLow HwhLow Hwh STOCKS, -------------1----1----il---- - - - - - - - -1----i---- -----1-----1---- - - - - - - - - Manhattan Beach Co--- ------- 5 5 104 107 77 8614 116141163s 13Ig 153s Preferred ------------------ 8412 85 National Lead Co-------------- 66 7614 Preferred . 1023g 103 New York Air Brake----------- 133 14112 New York Dock--------------- 42 42 Metropolitan Street RY-------National Biscuit--------------Preferred National Enamelin&" &. Stamping 412 5 104 105 8014 8514 1143411614 14 153s 86 87 65 753s 993g 10214 132 1393g ______ __ 4 41s 90 104 7512 8214 111 1173s 1014 14 79 86 49 69 !l8 100 100 1351g 32 32 Preferred NY&. NJ Telephone---------- 111 115 113 115 108 113 N~ittht~;;i~;~-c~~~;~~t~~k== 8g:1 --- 92 100 83 94 85 86 91 91 76 7812 74 7714 7312 7514 735s 76 11212 1147s 11034 114 11012 110121101211034 1134 1'212 101s 12 101s 117g lFs 14 82 8212 801 2 8212 811 2 811 2 82 82 5712 64 5712 6834 5834 627g 57 6412 9812 9914 97 10112 9612 99 98 987g 110 119J4 98 119 100 106 105 1257g 30 30 ________ - --- ____ 70 70 69 70 111341141211312115 110 110 110 112 8:! 795g 8412 6914 8034 7112 7512 65 7512 651g 69 67 70 -- - - ____ 35 50 3612 451s 6634 7434 72 75 11012114 112 112 10 13Ig lOig 11a4 83 85 75 82 4212 5734 45 5434 93 . 9834 94 9434 100 1227g 105 113 ____ __ _____ _____ 70Ig 701s 10112110 105 105 50 681g 57 ____ 30 36 5812 731 2 103 110 8 11 78 78 35 48 80 93 6014109 25 26 71 71 85 100 6234 411g 59 _ __________ _ 25 29 23 281 4 59 64 64 68 90 981 2 9918 102 61s 81 2 7 8 _______________ _ 33 4134 3714 4438 83 85 8358 90 55 681 2 4712 7234 __ ____ __ 25 25 6712 671 2 6714 68 92 9712 9834100 -37- -451; 417s -473~ Pacific Mail Steamship________ 34 411~ 3112 3614 211 2 35 25 297g 2212 27 23 261 2 26 317s 2212 271 2 2212 2614 19s8 251 4 19 221 2 21 28 Peoples' Oas-Light &. Coke, Chic 9414 985s 9214 9734 85 9312 8912 943g 8812 9314 8912 911 2 91 9234 84 9034 85 8834 7014 8612 71 78 751 8 7918 ·Pressed Steel Car----------- --- 47 57 4712 53 30 4914 3412 383s 30 373s 31 3514 3312 .38 25 3358 2514 31 161 2 251 8 1558 181 2 17 211 2 Preferred ------------------ 98 997s 9714 99 86 97 92 95 88 933g 8734 901 2 90 921 2 82 91 83 85 67 80 64 71 65 591 2 Pullman Co (The) _____________ 170 1811s 1681s 17112 150 168 1611s 170 16012168 15814162 160 16234 153 163 15512158 137 157 13514 140 144 14s18 Railway Steel-Sprin&"- --------- 51 5712 5012 5434 39 5234 4334 47 39 45 39 4214 4112 4312 3134 40 3414 38 2112 3518 23 261 2 26 30 Preferred ------------------ 98 99 9712 991 2 90 981 2 91 93 9114 9412 8912 91 89 89 87 907g 7912 791 2 75 8114 72 72 731 4 77 Republic Iron&. Steel---------- 337s 41 3214 367s 2'212 33s8 2534 311s 23 29 24 271 2 2634 30 1812 261 2 1934 25 }2 201 2 1218 1714 151 2 181 2 Prefered -----------------9534 100 99 78 ___ 98 ___81____________ 8812 81 8612 81 ____ 8612____ 82 ____ · 85 _______ 6812 8314 7214 79 5012 731 8 541____________ 70 _ 2 611 2 62 :Rubber Goods Mfg, preferred--- 96 100 100 _____ _____________________ ·SearsmRoebuck, 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 3g1 2 3334 3834 Preferred ------------------ 105 107 103 103 100 10012 99 100 95 9834 9214 96 95 97 ---- ____ 80 95 ____ 88 90 .fexas Pacific Land Trust------- 80 85 79 8312 68 81 74 7612 71 75 71 71 73 73 60 70 ---- ____ 45 58 45 60 42 571 2 Third Avenue-----------------11712123 117121187s 101 1111 2 110 114 105 116 1041210514 ---- ---- 4614104 43 58 2014 431 2 16 2os8 17 25 Toledo Railways &. Light------ 28 29 27 277g 24 2834 2514 261 2 2534 29 253s 2634 25 2534 2312 25 1912 231 2 111 2 1934 91 4 131 2 9 934 Twin City Rapid Transit------- 1021g 10812 102 105 87341013g 9312 98 89 96 91 9412 94 96 85 92 901s 9612 72 94 6834 75 77 86 Preferred -----------------115 115 ______ __ --- - --- - --- - ---- ---- -- -- ---- ____ 100 100 ___ _ Union Bag&. Paper-----------Preferred _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ United Cigar Mfrs, preferred---United RYs Inv of San Francisco Preferred United Rys of St Louis, pref ____ U S Cast- Iron Pipe&. Foundry __ Preferred U S Leather-----------------Preferred -----------------U S Realty&. Improvement---US Reduction&. Refining ______ Preferred 1 US Rubber CO---------------1st preferred---------------2d preferred-- -------------U S Steel Corporation-_________ Preferred -- -- ------- - -----Virginia-Carolina Chemical-____ Preferred __ - _ - _ - _ - _ - ___ - ___ Vulcan Detinning_________ ____ Preferred -----------------Western Union Telegraph---- -Westinghouse Elec & Mf&", ass't 1st preferred---------------- 7 58 93 8Is 612 8 534 634 512 7 512 7 514 61g 534 614 514 6 5 534 4 41 2 4 6 5 4 61 5434 60 501g 551 4 5212 55 55 571 2 57 58 5512 58 54 5512 55 55 42 54 39a4 45 4234 44a4 947s 92 94 87 92 8912 92 92 92 ____ ---- ____ ---- ____ 8712 871 2 65 80 77 7918 _______ _ 53 62 54 59 27 54 32 45 26 36 20 32 2712 313g 20 26 17 2414 12 21 101s 14~4 12 lb1 2 66 711s 64 69 44 64 50 64 45 567s 37 4912 4312 49 32 42 34 3814 201g 36 20 2412 23 31 ---- ____ _ ___ 69 69 ____ ---- -- -- ---- ---- --- - --- - ---- ___________________ _ 4514 4912 445g 473s 3014 4412 35 38 31 3734 3112 35 35 365s 27 36 2814 32 17 29 1734 20 19 23 8312 89 863g 863g 74 85 77 8412 78 84 79 82 79 83 76 811s 7714 8012 4912 7512 49 55 55 5814 12 12 ____ ____ ________________________ ---- ____ ---- ____ ---- ---- _______________ ___ _____ _ 106 112 1011210112 ____ 10912110 ________ 114 114 90 110 ---- ---- 87 10014 87 98 87 92 77 9012 78 88 72 8612 7134 78 58 6934 52 60 53 571~ 4 12 53 48 52 37 48 36 47 3712 42 2712 3014 2112 27 1312 25 1712 2012 1212 177s 15 17 1412 1712 1012 1514 13 141? 7 912 512 7 6 6 60 68 601s 6334 437s 68 47 571 2 40 5418 42 4734 48 52 35 497s 3934 44 - 20 341 4 25 29 1&14 25 4814 52 4712 5212 367s 501g 4134 44 3514 43 3334 38 3214 3912 2712 3512 27 331, 16 271 2 1312 1734 177g 231 8 104 • 1097g 105 1077g 9912106341011210434 98121027g 97341007g 973410112 85 98 8834 9334 62 921s 62 7034 6834 80 75 78Is 74 77 68 76 7134 75 68 723s 66 6912 66 70 60 65 60 6134 40 57 39 4414 42 481 2 4234 503g 427s 4634 3112 4434 3514 393g 313s 381 2 317s 357g 3514 39 2914 357s 263g 331s 217s 2734 2214 251 2 2434 2814 104 10734 103ls106I4 91121037g 9712102 96 10238 961g 9938 99 101 911gl007s 8714 96 811g 891 2 7918 863g 8434 901 2 3212 393g 3112 3514 2512 3312 28 303g 2312 28 2 2712 25 2712 19 26 18 2112 1314 1912 1212 1612 1534 18 10a 108 106 108 101 106 10214 10414 1027g 10414 103 105 lOils 102 95 10114 95 98 77 · 96 75 93 84 90 8 934 814 814 ____ ____ ____ ____ ____ ____ 8 8 214 214 3 4 5312 5312 50 57 53 537s 48 48 50 50 501s 501 8 ____ 32 32 8214 85 8112 8312 7912 82 8034 8312 78 831g 7814 81 7512 80 7412 78 73 78 62 74 5412 65 14834 154 150 15012 146 15014 H334 14412 142 bl46 143 145 142 14612 136 14:. 138 138 3412 129 32 64 ---- ---- ---- ---- ---- ____ 145 145 160 160 ________ ---- --- - ____ __ _ ____ __ ____ ____________ _ b Ex- rights. 1908. ~TOCKS January February March AprU Ma11 June July August September O.:tober Novembe• D~cemb::r Low Hwh Low HtQh Low Hi{Jh Low Htqh Low Hwh Low HiQl Low Ht(Jh Low Htoh Low Ht(Jh Low H iyh Low Ht,gh Low High ------~-----1---- ---- ---- ---- -----1------1-----1----- ---- ---- -----1----R.AILROADS. Atchison Topeka &. San ta Fe- 68ts Preferred---------------- 8414 AtlanticCoastLineRR------ 6734 Baltimore &. Ohio-_________ 81 Preferred---------------- 80 Buffalo Rochester & Pittsb ·- 7512 7412 8712 751s 9012 8534 7512 861 8 931 4 931 8 993g 9434 10114 9434 9614 967s 1011 2 10012104 87 931 2 93 111 104 1111 2 945g 9934 983.1 L0934 10634 11118 . 861 2 89 881 2 911~ 92 94 ________ 98 118 9012 9012 Preferred _____ -- ----- _-- _ __ __ ____ ____ ____ __ __ __ __ __ _ _ ___ _ ___ _ _ __ _ fluffalo Susquehanna, preL-- ---6434 6434 59:14 5!!J~ ___ _ Canadian Pacific----------- c1473415834 140 151121421215414 1497s 1581g 1541 2 161 151121623b 15912 114 ,~ 16812 17714 rns:,g 1777R l n9 17\:1 173!.i 1so18 1737s 17913 Subscription receipts ____ 140 150 14634153121531215612 _____________ ___ Hi912172 173 173 176 17714 _______________ _ Risthts ------------------ 812 87s 63g 9 ____ ____ _____________________ _____ _ _______________ _ -Canada Southern __ ________ 58 62 55 56 54 591s 59 62 61 631g 61 61 61 1.Ws 64 fl434 fl434 65 6:i 63 65 til'l 65 6614 Central of New Jersey------ 165 183 160 170 162 175 1711418212 180 188 185 185 l!lO 195 1116 20312197 20912 195 205 206 21134 2115R229 Chesapeake&. Ohio __ ______ 2834 3234 2512 297s 2634 337g 301s 341 2 331s 4658 37 463g 393.1 44 4012 4438 381s 4412 40 441 4 4234 51ts 481 2 593g .Chicago & Alton___________ 13 141 2 10 12 10 1214 1214 1734 111 2 231 8 21 27 231.1 2o 2J 2514 22 281 2 2712 41 38 511 2 4834 6878 Preferriid ---------------- ________________________ 48 5 2 54 60 5812 5934 58 5812 57 57 5812 60 61 70 ti7 71 7114 79 .Chic Burl&. Quincy______ ___ ____ ____ 200 210 Chicago Great Western _____ 45g Sta 31s 5 334 51 2 414 558 434 758 6 738 614 71 2 ~;Jg 71 2 534 738 63.1 7i4 71 8 1458 101 2 1358 4% debentures ___________ 4312 4912 38 401s 3312 39 41 41 45 50 497g 497g 50 50 511s 681 4 5934 5934 ____ 57 65 60 65 5 % preferred A----------- 21 31 1512 205g 17 1114 1114 18 201 8 25 20 23 211:i 24 20 2714 25 30 2ti 283.1 2771'. 39 34 43 4% preferred B----------6 10 5 612 512 734 612 758 61 2 978 7 93g 73p. 934 834 113s 712 1034 97s 11 97s 171 8 131s 1658 Chic lndianap &. Louisv pref_ ____ ____ ____ 50 50 .Chicago Milwaukee &. St Paul 103121177s 10514 11314 10812 1207s 11514 1291 2 12718 140 1301 2 13758 1;.i314 14;i1 8 14014 1473g 12114 146 1321214414 1423s 1.5134 1431 2 1521 2 Preferred ________________ 138 145 13814 144 13914145 145 152 150 157 150 151 15112158 156 16034 1491s 157 155 1583,i 158 164 161 16434 Common instalment certfs _ 9812 10912 987g 10312 101 11214 111 1211 2 12134 12918 1225s 1251 2 12512 1345g rn2 138 126 138 12912 1401g 1403x 14558 1431s 1471 2 Preferred instalment certfs_ 1255s 136 12612 1327g 129 13534 134 14314 141 148 142 145 145 l fi l 14914 1.5212 14612 153 150 155 15478 161 157 HHl4 Chicago & North Western ___ 1351215212 136 14512 143 149 1451s 1521 4 150 160 148 15612 lf,ll21607g 1571216312 1541416412 1.5714162:'>s 16214 177 l 731~ 18512 Preferred ________________ 185 195 ________ 195 195 195 200 200 20412 200 205 :.?01 205 2tl6 :.!10 200 201 210 216 ________ 215122 24 •Chicago St P Minn & Omaha. 123 1321 2 114 1211 2 121 129 121 12978 1271 8 138 13014 132 136 mg rn6 140 13.> 13612 135 137 138 153 15~ 160 Preferred ________________ 14012153 137 145 148 150 155 155 160 165 159 160 160 160 155 162 l.>97a 15978 158 158 163 170 1671 2 174 Chicago Terminal Transfer___ 434 434 134 134 ____ ____ ____ 5 8 ____ ____ ____ ____ 3 4 ____ ____ 5 5 4 6 4 534 Preferred ________________ 11 12 ____ ____ 87g 101s 15 15 ____ 12 12 12 12 15 181 2 2U 20 .Cleve Cin Chic&. St Louis ·-- 4812 62 481g 52 4813 56 521s 581 4 56 6158 4712 5912 5314 59 5414 59 52 5514 517s 553.1 E4 6934 6,5 7012 Preferred------ ---- ------ 89 92 851s 851g ________ 851 2 94 88 • 51 2 90 901 8 ________ 97 98 9112 9112 96 961,1 !.l6 99 997s 997s C'eveland Lorain&. Wheeling 100 102 ____ ________________________________________________ __ __________________________ -· __ Preferred------ - ------ --- ________ 115 115 ____ ___ _ _ _______________________ ---·· ___________________________ _ Cleveland&. Pittsburgh, gu _ 1681216812 168 168 135 135 16512169 ____ 170 170 172 172 ____ 175 175 Colorado&. Southern _______ 231s 268g 21 2514 2212 2534 2434 321g 2934 33 2934 3178 30.14 3:i14 32 36:Js 3514 40 31r14 41Fs 417s 493g 4834 59 1st preferred------------- 503g 527g 5114 52 52 5612 54 6034 58 60 57 5914 5834 6212 613a 65 64 66!!,1 6414 6714 67 /lJ3g 6912 79 2d preferred ___ ____ _______ 4112 4412 3934 4234 40 4734 44 5112 48 511g 4612 5012 4834 5214 52 58 57 591:i 57 597~ 5!:112 6412 f,234 76 Cripple Creek Central------- ________________________________________________________ 30 ao ________________________ ---·· ___ _ Preferred _______ ____ _ ____ ____ .53 65 50 60 _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ __ _ Delaware&. Hudson ________ 147 168 141121523s 1451215814 1521s 1617s 156 16634 157 16:2 160 169 11\7 174 160141747g 165 169 Hi71217814 17:'> 1813g .Delaware Lacka &. Western _ 420 500 ____ 475 480 475 490 485 ; 40 520 524 500 519 49934524 500 535 /ilO 53534 53.'l 575 550 56712 Denver&. Rio Grande------- 1934 218s 1414 2012 143s 2114 1888 21 211 2 2734 241 2 2114 255g 2734 26 277~ 2612 287s 27 301i 29 3514 32-1,i 4012 Preferred __________ ______ 57 597g 41 58 3914 56 5112 5412 57 70 607s 66 62 67 6514 6812 65 6712 66 707s 71 78 7il- 8314 Des Moines&. Fort Dodge __ ____ __ __ 512 512 5 9 ___ ___ __ 10 113 ________________ 11 14 ________________ 11 17 1334 1912 Preferred---- -----------____ ____ ____ ____ ____ ____ ____ ____ ____4 ____ ____ ____ ____ ________________________ 90 90 Detroit&. Mackinac pref____ _ ____ Duluth South Shore &. AtL- _ 71s 87a Preferred________________ 1434 1814 Erie ______________________ 14a4 111 8 1st preferred _____________ 3114 3.534 2d preferred ______________ 2214 261 4 Evansville&. Terre Haute---- ---- ---Preferred_______________ ____ (ireat Northern, preferred ___ 1151412534 Subscription receipts __ ___ 115141235s Ore certificates--_________ 4812 5534 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Lex-rights 66 833s 5934 7612 80 7512 727g 87 68 8412 83 77 6734 8312 5912 78 817s 79 76 857g 7514 8412 82 79 731s 8512 7034 82 82 82 81 8934 84 8734 8434 82 79 8478 891g 9234 8134 94 855s 9414 841 2 86 80 80 ____ ____ 1(15 105 7934 8334 811g 881 8 8634 9134 841s 9134 9114 95 112 9314 93 931 2 9412 9512 8412 93 8812 96 90 9334 8112 93 8334 9134 8534 943s 911:i 96 ga 10178 86 87 83 83 83 84 851!! 89 ___ ____ ________________________ ,, ____ ____ _ _ _ _ __ _ _ _ __ _ ___ _ ___ _ _ __ _ ________________ 1414 16lq 1512 183,1 23 28 - 26 3334 293s 327~ 307s M 4214 4612 437g 50 3412 377~ 3614 4012 ---- ------80 85 !!~ 84 79 80 85 8.5 11334 1217s 117 12434 121s8 1291 2 125141341g 1287g 13414 1:n l<l712 135 14U 12514 l<l912 1297g l ~l4 111 133 14F>~ 114 1183g 118141233s 12212126 ____ W 53 5112 5934 &534 597R 57•.; 633a 57•s 623s 5814 69 651s 6812 5212 673s 57¾ 63 63 75 18 6 1134 121 2 2534 193s 7 1412 1518 3134 223g 61s 1214 12 243g 16 1034 1934 1718 35 25 934 1812 1334 2934 1914 1614 26 191 8 36 2514 131 8 20 1118 33 231 2 ____ ---- 60 15 2434 2358 44 301 2 6212 1112 1912 1758 3234 2234 ____ 12 22 2334 42 30 ---- 1112 151 2 21 25 rn 251 8 3414 411~ 24 31 ____ ____ 9812 1-114 211:i 221 4 3634 28 9812 15 243s 25 4112 31 12 2tl 2334 3914 2912 ---- ____ 15 2412 a11 4 461s 367~ ---- ---- ___ _ 15 1734 29 33 317~ 3534 4634 513g 373s 41 60 64 _______ _ 139 14814 _______ _ 70 743.£ / 118 RAILROAD AND MISCELLANEOUS STOCKS. 1908-CoutiJmcd. January STOCKS February March Aprt May June Julu August September October November Dec.mber Low Htgh Low Htgh Low Htgh Low Htgh Low H t(Jh Low Htgh Low Htgh Low H tgh Low Htgh Low High Low Htyh Low- Htgh - - ---1-- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - --- - - - - - - - ___ ,_____ Oreen Bay & WesternDeb certfs, Ser A------ __ 71 71 7712 7712 ---- ---- ____ ____ ___ ____ ____ 84 84 Deb certfs, Ser B _________ 8 1314 9 1034 934 12 1012 12 1014 143s 13 14 1112 14 14 16 14 1.; 14 15 14 16J~ 1434 111 2 Hocking Valley preferred---- 70 80 70 7012 69 69 69 77 85 85 82 82 ________ 81 841° 83 s;1 8.'i 85 88 891 2 90 ll3 J P Moritan &. Co, com rec- 68 75 62 69 6312 73 75 75 7412 90 82 88 85 8814 85 87 - 82 85 85 115 90 115 97 1041 2 JP Morgan&. Co, pref rec. 70 70 ---- ---- ---- 79 801~ - --- ---- ________ SOis 801s _____ _ __________________ ~9 91 Illinois Central ____________ 123 133 122121283s 124 12834 123 13634 bl29 1-42 1257s 13534 12s12142:14 rn512143J:., rn312146 13634 1411 2 1;;91 2 14934 1421 2 149s8 Subscription receipts----- ----- ---- --- ---- ---- ---- ---- ---- ---- ---- 1281213712 Ia5;s 139 140121453s _______________ _____ ___ _ Leased lines stock ________ -- -- --- - 90 90 -- -- ---- ---- ---- ---- ---- --- - ---- • . -- _ -- • ---- -- _ •. - • . ____ 9612 11914 _. __ _ ___ • • __ _ __ _ Rights __________________ ·--- ____ --- ---- ---- ____ 334 434 3 412 312 4 ___________________ _____ ___________ _ Iowa Central ______________ 103s 1314 10 12 11 125g 1214 161s 15 19 16 1734 16 18 17 177s 1678 1878 1819 2634 2438 303-1 28 .~21 2 Preferred______________ __ 28 31 2112 2914 28 34 3112 363s 3012 3614 32 35 3314 36::., 34 36 3434 38:i4 38 - 46 431 2 483 1 44:,8 57 Kanawha&. Mich Tr receipts- 29 31 29 29 29 29 ____ ---- 39 42 35 35 35 35 36 37 37111 371s 371 8 44 431., 47 46 5n KC F S &. M, tr ctfs, pref- __ 62 70 597s 66 60 (10 60 6312 65 66 ____ ____ 60 62 57 62 58 59 60 68 67t 2 6910 70 7519 Kansas City Southern ______ 22 237s 18 21 18 2334 22¾ 24 22 26 2312 2434 24 257s 24 26 2419 29 261 8 29 281s 3238 321 8 423g Preferred________________ 51 54 46 51 471s 5514_ 51 5614 55 577s 54 58 54 571., 57 5812 5814 631 2 61 645s 1218 62 61:i4 66 Keokuk&. Des Moines------------- ---- ---- 8 10 - --334 6 • ---4 412 5 8 5 612 Preferred__ _____ _________ ____ ---- ---- ---- 20 25 25 25 ---251-1 26 ____ 27 32 Lake Erie&. Western _______ 12 14 12 1512 131z 1512 15 1514 14 1934 ---- ---- ________ 1612 1712 15 15 16 18 17 25 22 26 Preferred ___ _____________ ________________________ 36 38 34 45 _____ ___ 4212 4212 43 43 45 4il 41 431 41 56 49 58 2 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 563s Louisville&. Nashville ------ 903410312 8714 9734 89 101 9714 10534 10312113 101 11134 103 lll3s 107 1117g l10l4 l1034 10312 llOl-1 10812 12234 l1 Sl21 2534 Manhattan Elevated ________ 120 132121201213034 125 128 120 13434 132 1391~ 135 139 136 1387s 137 139:,s 13314 1393.: 137 1371 2 138 148 147 15434 Mexican Central------------ 1412 2012 16 19 1714 1912 1412 1914 1412 1714 15ts 167s 15111 151s 1512 17 1.514 151 2 15 151~ 1s 12 183~ _______ _ Trust Co certfs of deposit-- ----- ---- ---- ---- -- -- ---- ____ 1412 171s 15 17 1411 15:i4 15 1714 15ts 1612 1514 173~ 16li 181 4 16as 2412 Michigan Central- -------------- ---- ~--- ---- ---- ---- ---- ---- ---- ---- ---- --- - __ __ - --- ---- ··--- --- - __ __________ 165 165 15.:> 155 Mmneapolis &. St Louis_____ :t4 2614 2034 2412 20 2412 2212 2514 2534 32 2512 2912 2612 2\)34 28 3014 2612 2914 2812 39:14 3812 52 4712 5612 Preferred __ __ ____________ 6212 67 61 6412 61 63 63 67 67 691r: 6612 663~ 6412 6612 66 G9 63 6634 64 75 77 85 !c<5 90 Minn St p &. S SM__ ______ 7914 947s 8614 96 9334 110 10812 ll434 111 115 108 ll33-t 109 117 116 12458 116 125 120 126 1223 4 13,:; 1281 2 13878 Preferred ________________ 1241213134 12312130 135 13634 ________ 134 1351 2 13014 13612 136 144 1391.114912 143 14878 U4 148 1451 2 149 14/1 4 1511 2 Missouri Kansas&. Texas___ 23 27ts 175s 2312 1712 2514 2212 2634 2534 307s 26ts 2!l 267s 3134 30-1.,, 3314 2858 3338 2834 311 2 30a8 3834 37,111 431 2 Preferred _______ _________ 55 5912 46 5514 4612 56 54 597s 5814 635g 5812 623s 59 6412 63 657s 621 4 6678 64 661 4 05 711 2 1012 751 2 Missouri Pacific __ _________ 4112 47 2812 435g 297s 43 40 4712 4514 6412 447s 5414 48 5634 5412 60 50 5834 521 4 57a8 5638 641 4 6112 671 2 Morris&. Essex ____________ 165 170 - --- ---- ---- ---- ---- ---- 180 180 ---____________________ 184 184 Nashville Chatt&. St L ____ _ 9734 l1414 99 108 105 109 10612 llO 108 113 110 110 115 115 110 110 109 109 ________ 112 122 1221212212 National RR of Mex, pref ___ 4334 497s 4712 50 49 52 4612 5112 49 503s ---____ 49:;8 49°s ________________________ _ Tr Co ctfs of deposit ___ _______ ---- -- - - --- - ---- ---- ________ 49 4'l 51 517s 5014 5014 46 4Sl.1 49 51 50 5114 501s 5412 43 5212 2d vreferred---- -- -------- ---- ---- ---- ---- ---- ---- ---- ____ 17 17 17 17 ______ ______ --· _____ ---·· ________ ___ ______ __ ____ _ Trust Co certs of deposit----- ---- -- -- - - -- --- - ---- ---- ---- ------- -- -- ---- ---- ---- 1712 171 2 1712 1814 _____ ___ 193g 2514 N Y Cent &. Hudson River _ _ 90•s 103 925s 971s l-!37s 10134 9612 101;8 100 1077s 10034 1057s 1031211014 100 llOl4 1001 4 10s1 8 103 10678 1051-t 1181: 1161 8 126 N Y Chicago & St Louis ____ 2412 3334 2612 31 30 3412 3214 387s 36 407s 37 4112 39 417s 3&14 407s 3414 391 2 37 3834 38! 2 521 4 49 5712 1st preferred------------- 90 90 85 85 ---____ 100 102 --- - ---- __ __ -- · - ·-- · ____ 98 98 ___ ____ _ 1'10 105 - ·· -- ___ _ 2d preferred------ -------- 647s 70 60 69 60 66l2 65 71 71 75 7334 75 ,012 74!2 71 74 7112 72 121 4 721 4 72 811 2 80 85 New York & Harlem ________ ---- ---- -- - - - - -- ---____ ---- ---- ---- ---- ---- -- - ---- ___ ---- _______ _____ 335 335 345 345 N Y New Haven&. Hartford 1283s 1391 2 1301s 135 132 1347s 132 138 134 14114 134 13812 135 142 140 14434 138 1451 2 140 1471 4 1471 2 161 156 1'31 Rights---- ----- --------- 334 5 ---- ---- ---________________________ ________________________________ __ _________ _ N Y Ontal:'io &. Western __ _ _ 3212 36 291s 3234 2934 34ts 321s 3412 3312 4334 37 4112 39 431s 411s 44 3812 431 4 ;i914 4178 4078 45 4312 477s Norfolk&. Western _________ 6334 70 58 651s 6912 6512 63 6614 651s 7234 6634 705s 6814 747s 73 75-14 71 7578 71->s 75-38 741 2 861 4 83 857s Preferred ________________ 79 81 ________ 74 7934 785s 80 ________ ---- ---- 80 80 82 82 801'.! 81 8058 821: !S5 873g 86 &8 Northern Pacific--------..---- 1167s 12912 117 126 120341291s 12514 1341s 129121387s 133 138~4 13ti-5111423g 1403s 14631 13034 1463R Ia51 2 14614 13934 15734 13712144 Subscription receipts __ ___ 105 112 103 10814 104121111 2 10918 12osR 1183s 1251 '.! 121 125 1241212934 1277s 138?~ 125 1:{b:38 129 13638 1351 2 145 137 14312 Pacific Coast Co------------ 80 9312 79 90 75 847s 7112 7634 7514 817s 7814 7934 76 7734 72 7634 65 7314 6534 75 7314 8'..!34 81 86 1st preferred------------- ---- ---- ---- --- - ---- ---- ---- ---- 90 90 - --- - --- - - -- --- - - --- - --- -- -- _ • . _ ____ _ ___ _ -- - __ -- - - - - - -- • 2d preferred-------------- 85 97 82 82 79 8212 79 791s 80 89 80 80 ______________________________ _ ____ - ·· -- 85 87 Pennsylvania RR----------- 108341177s 10914 113 111s8 11834 11512 12134 11814 1241z 11912123 14 1203s 12fll4 1227s 12634 ll9t 2 12578 12rt8 12114 1261 2 1311 2 1281s 1321, Peoria&. Eastern----------- 15 15 14 14 14 18 13 15 16 21 1512 17 15 15 1&12 1734 16 16 ____ 1912 2•HR 231s 2912 Pitts Cin Chic&. St Louis ___ 59 70 655s 66 65 6912 69 72 70 7112 72 74 74 7ti12 71 761'.! n12 78 75 80 81 88 8512 88t2 Preferred ________________ 847s 90 ________ 811 89 87 891 2 88 93 91 98 90 9,112 9;t34 93.11 90 94 94 981 4 108~1 10,. a1 104 104 Pitts Ft W &. Chic, guar ________ ---- 164 16414 ____8 ____ ____ ____ ____ ____ ____ _ __________________ _ Railroad Securities, Ill Cent stock trust certificates ____ 80 80 ________ 79 79 8014 8014 ________ ---- ---- 83 83 84 9:1 9012 94 ________ 8912 9212 89-34 92 Reading ____ --------------- 941s lll 921s 1035s 94141077s 1023s 112 1073411914 1095s 11714 1121s 1221s 12114 noas 1203413ns 12()34 1341 2 13134 1411: 1355s 14314 1st preferred------------- 78 84 80 831s 84 84 80 82 8214 8712 SOis 8214 82 8:!12 843s 87 86 !18 871 4 Sil 8714 8934 8812 92 2d preferred-------------- 76 8212 7612 7812 76ts 80ts 80 1< 134 8134 861 ~ 8J12 84 8314 8412 84 8812 &5 88 86 881 2 Sn 891:,. 88 99 Rensselaer & Saratoga------- ---- ---- ---- ---- ---- ---- -- -- - - -- ---- ---- -- - - ---- ---- ---- ---- ---- ---- ____ - -- - ____ ---- ---- 194 194 Rock Island Co ____________ 1312 1534 1012 1334 11 1512 1334 163s 15Is 19Iz 15'•s 1814 1512 18 1414 19 17 20 18J4 205~ 105g 241ts 22 2514 Preferred ________________ 2612 3034 2034 267s 22 287s 26 34 :n 405s 281s 38 27 343~ 28 375R 311~ 417s 4078 50 4512 53t 1, 5314 625s Rome Watertown&. Ogdens _____ ---- 115 ll5 ________ 1141411414 ------- 11414 11414 ____ - · __ l19ls 1191,i __________ .• ____ 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 3714 St Joseph&. Grand Island ______ ---- ____ ---- 1812 1812 ____ 13 13 15 17 1719 1s1 .. ________ 19 19 1st preferred_____________ __ __ ____ ____ ____ ____ 38 42 43 45 ________ .,5 - 48 - 53 5:! 50 53 2d preferred-------------- ____ ____ ____ ____ ____ 21 21 22 25 ____ --- ·· 26 273,i ___ _ St L &. San Fran, 1st pref___ 597s 6134 1" 57 48 51 48 48 51 57 42 5434 43 49 5319 531 2 4538 501 ? 52 55 60 62 62 ti9 2d preferred ______________ 2714 3014 1914 27 21 271'.! 2412 2912 2712 34 2112 32 2412 211 2 20 - 2918 251 4 29a~ 28311 32 30 36 3514 4214 Chic&. E 111 stk tr ctfs ____ ---____ JOO 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 6ll 60 57 C\634 65 67 St Louis Southwestern _____ 14 1512 11 14 10 1412 1312 147R 1312 1773 16 1634 16 183.J 17 18:is 16 18 1634 19Is 19 225f 21 24 Preferred ________________ 29 321 2 241 2 301s 2714 34 33 3512 32 41 3514 3812 3814 411 2 :!81 4 431 8 4134 445s 4458 50 -1 9ls 5414 4!) 557s Southern vot tr ctfs stpd ext. \/Is 1314 914 11 9Is 161 4 13 15-1R 145s 191? 1612 1834 1634 11112 183s 205s 1938 2:Fs 2014 23 2234 2634 2334 2714 Preferred do do__ _____ 2978 37 2712 33 251 2 42 36 42 44 503-t 4734 5134 50 55 51 5478 54 61 573s 6312 40 471? 4212 48 M &. O stock trust certfs __ 60 60 7712 7712 ________ 70 75 ________ ---- -- ____ - ·--·· 70 70 70 70 ________ 82 82 80 80 Southern Pacific Co--------- 7034 781 2 6614 745s 67 77 723g 81 78¾ 8934 843s 8812 86 937e 921 2 107<>~ 9638 1103s 100 1091 2 101121201~ 11514 12212 Preferred---------------- 1063g 112 108 11112 109 11112 llll4 l15 115 12512 118 120 ll7 120 118 12034 116 l!?Ol R 1177s ll81'.) ll8 12314 12012125 Texa s&. Pacific------------ 1814 21 1234 191 2 1218 1734 1()3-t 1914 1812 26 2134 25 227s 26 241 2 261 4 22 26 24 ~m.1 261s 33 311-t 3714 Toledo St Louis & Western-_ 14 15 12 15 14 1912 1612 18"R 1112 21 19 2034 197s 2318 2212 211 2 25 27 26 :na., 3012 4034 391'.! 50 Preferred ________________ 34 37is 33 35's 3334 421 4 40 43 40 46 4312 4434 4334 50 491 4 591 4 55 61 5738 62lr, 5712 65 63'R 7312 Union Pacific ______________ 1161412858 1107s 1233s 11012129 12358 13812 1345s 15112 1417s 150 145 15578 1541 8 164'14 149~8 Hi8t8 15818 173' s 172121847s 1741,: 18434 Preferred _________ ___ ____ 80 8434 80 83 7912 81 7914 8112 8012 85ts 82 8312 8214 8312 823,: 8612 85 90 8634 93~s 9334 98 9412 9612 Utica & Black River-------- ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ ___ _________ ___________ . _______ 174 174 ____ . - -· 1751:: 17512 Vandalia---- ------ ------- - ________________________________________ ---- __________________ __ 85 85 85 85 ________ ---Wabash ------------------ 812 1oas 77s 834 634 11~.: 10 11 10 1414 11 125s 103i u1~ 12 14 111:! 131g 121 8 131f, 123-1 15,;~ 15 20->s Preferred ________________ 15 181 2 1414 16 1 3 1912 ! 7 197g 1812 211 2134 2512 22 287s :.!5 203s 24 27711 251g 2'<3s 2R a&>, 35 5234 Western Maryland---------- ll5s 13 !J 1134 5 812 7 734 6 16 9 1134 1012 13tr. 1112 141~ 10 13 12 141., 12 151 ., 13 24 Wheeling&. Lake Erie______ 51 8 9 5ts 512 41 2 71 2 51 2 619 10-,~ o 101.1 8 91 2 814 9 9 113~ llJls 13 t 4 6ts 101 4 519 834 1st preferred_____________ 141s 19 14 15 13 16 121s 18 1212 2::.1~ 13 - 15 15 - 21% 1514 2l~A 1514 17 16 18 18 !W.• 201s 2614 2d preferred______________ 614 11 6 712 G 8 7 10 834 1214 8 10 8 12 1012 l:ll,: 812 11 814 1034 10 15-14 l:t 151~ Wisconsin Central _________ 1412 1714 131 2 1334 14 151 2 1414 17 16ts 191 2 15 177s 167s 2134 2 113 27 24 29!? 26 28711 28 313_, 29:14 ::l814 Preferred________________ 26 4312 33 36 36 3912 36 41 ~912 431~ 3812 417g 391? 44 41 45lf 4334 5112 4534 541.1 5112 64 60 7212 EXPRESS Adams ------------------- 164 185 American------------------ 190 200 United States _____________ 8014 90 Wells, Fargo&. Co- ____________ -- __ 167 170 70 250 175 185 80 250 165 166 17934180 80 85 257 260 167 167 165 168 19C 190 190 224 80 80 ---- ---____________ ____ 185 ---250 ---· 173 180 200 200 19U 19934 205 195 2l'J ---- 78 78 81 85 250 ________________ ---·· ___ _ 13512 201) ---- ---290 295 ________ 19(} 199 200 197 80 88 85 300 300 ;rn2 190 200 90 325 190 :W2 88 :no l!JO 202'4 90 310 COAL AND MINING Prtces of mtntno stocks of par value of $25 or less are dollars per share, others p. c. · Par. Alice Mininit--------------5 3 31 2 114 3 2 21 2 238 25R 23s 2fi, 212 3 !:7g 312 234 3 2:111 312 214 2,14 23s 3 23g 25s Amalgamated Copper ---100 457s 5334 451s 521 4 4934 6234 565g (i2ls 5914 6934 ti434 6812 65as 777s 7434 83°s 687s 81¾ 72 SO?~ 79:;s 883s 7534 8512 American Coal -----------25 ________________________ 120 120 ____________________________ - ··-· _____ ___________________________ _ Anaconda Copper ______ 25 2s18 34 :.m 2 3334 32 4034 3614 39¾ 3714 4614 4014 4414 41111 481 R 45 501? 39"s 4834 4112 463.i 46 5317 4514 507s ~:~~~if~~ ~~~f:~·:::_-::::::~g Central Coal&. Coke---- . 100 Colorado Fuel & Iron---- 100 Preferred ----- -- ------100 Columb & Hock Coa' &. Ir100 Comstock Tunnel----------2 1st income 4s ____________ Consolidation Coal-------100 Oran by Cons Min Sm&. P-100 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis i:: :~: ~34 ~~:--2i8 --5- --358 --ii; --3- -i1;- --2a4 --i1; --212 --ia; ··314 --4· ______ __ ---- ---- 60 6 iO 19 221 2 15,,;8 20 16 2478 227s 2534 24 ______ __ 40 40 ________ 4914 491 4 35 70 3134 50 1512 1714 15 1612 1434 21 1714 1912 1734 24 21c. 30c 25c. 27c 20c . 26c. 20c. 44c 35c. 40c. ____ ____ ____ 20 20 18 1912 00 !JO ---- 90 90 8912 8912 7834 92 8912 8912 85 9812 90 . 412 92 92 b cx-nght ---- -- -253g 29ts ____ 20 23 30c 35c ____ ---8712 8712 \J2 105 ---2&'>s 50 2012 21c. ---90 99 5s ---· - -337~ 32 50 60 231.1 201a :l2c . 22c ---- ---90 -- · 10912 100,x ---381s GO 231g 25c -----· 1071 , · · 2-1-1 --3:i~ --- ·· --· 30:.ls 377s ________ 20 217s 20c. 25c. - -- ------- ---lllOl2 l05 -·23J -·;;.,; ·-212 --,ii~ ·-zig ---- ---- ---3334 373.t 3614 65 ti5 6514 19 20~~ 1934 22c ~3c . 28!:. ---•16 ---- ---- ---101 1043~ \:1934 -i3~ - -- - ---- ---407s 3612 42 75 7212 7212 25 2412 27 12 35c. 25c 32c. lG ---- ---· L09 10:.1 107 MISCELLANEOUS STOCKS. 119 1908-Continued. Januar y STOCKS i''P-bruary Marcil Aprt. May June Jul11 August September October NfJVember December Low Htuh Low Htuh Low Ht{Jh Low Hi{Jh Low H///h Low Hi{Jh Low Htuh Low Hi{Jh Low Hioh Low Hi(Jh Low Htuh Low Hi(Jh -------------1---- ---- ---- - ---- ---- ---- ---- ---- - - - - - 1 - - - - 1 - - - - - - - - - Homestake Miriing - -----100 67 Horn Silver Mining _______ 25 ---Iron Silver Mining __________ ---New Central Coa'-- --- ----20 ---Newhouse Mines & Sm- --- 10 7 Ontario Silver Mining __ -100 2 Pitts Coal of New Jersey-100 918 Prefe rred ------- --- --- 100 40 t uick silver Minins.t - ----- 100 ---Pr.!ferred ----- ----- --- 100 112 Standard Mining ---------10 112 Tennessee Copper ________ 25 26 Utah Coooer----- --- - ----10 20 Rights---------------------Virginia Ir Coal &- Coke _ 100 43 VARIOUS Allis-Chalmers_____________ Preferred __ _ __ _____ _ ___ __ American Agricultural Chem . Preferred---------------American Beet Sugar-------Preferred ________________ American Can______________ g Preferred _ ____ ____ ____ ___ American Car & Foundry____ Preferred ________________ American Cotton OiL ______ . Preferred-------- - ------American Grass Twine-----American Hide & Leather-___ Preferred---------------American Ice Securities----American Linseed._________ Preferred---------------American Locomotive------Preferred ___ __ __ _________ 6 19 13 7812 10 65 414 44 2914 88 2934 80 37s 31s 131g 157s 71s 1912 72 72 72 70 /312 7312 74 7412 75 74 76 7ti 85 \12 92 85 88 So 40 6 4 1114 43 ____ ___ _ 2 3612 3934 45 73s 5 13 48 ____ ____ 2.10 401 8 461 2 5ls 4 101R 39 ____ ____ 2 363-1 37 634 41r 111? 431 ____ ___ _ 2 s91 2 9:! 9fi! 2 961 4 961.1 ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ____ ---- ____________ 70c. 70c. _______ _ ________ ti5c. 65c. ---- ---- ---- 112 112 ---- ---- ---- ---- ____ ____ ---- ________________________ •. _________________ _ 30 30 30 35 97s 7 87s 634 814 63s 412 ____ ____ 3 314 3 103s 9 912 812 :o 93s 427s 3612 40 377s 42 38 ---- ---- ---- ---l2 134 112 114 114 112 134 1.5212 3212 2512 3012 26 4234 3612 2712 2314 27 247s 3412 29 ---- 12 67s 6 161s 16 8012 !!12 65 4 4434 2512 8434 2434 5312 45 34 ---- ___ 712 7 434 412 1134 11 4212 41 "B ------134 423s 3512 327s 2814 ---- ---- -- - - 47 49 51 614 1814 1834 8012 11 65 5 50 30 89 327s ::i 11 17 ---1014 7212 412 457s 2612 8414 2514 82 412 27a 1212 131g 57s 17 32 9012 5J 71s 185s 1634 8212 l1l4 75 434 4912 31 9212 265s 914 ~212 2114 86 247s 78 53s 56 3614 9612 2912 ---- 48 AP~!:~:~t~ ~-~~~~~~~t~~~== Ji~fs ~:_e_~~~~~~======== -=~- ~'l-1~~ N North Amer -can Co, new stock Pacific Mail Steamship_ _____ People's Gas-Lt & Coke, Chic Pressed Steel Car------- ---Preferred ________________ Pul.man Co (The) ___________ Railway Steel-Sprilti--- ---Prefer.ed _______________ _ Republ ic Iron & Steel----- -Preferred ________________ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 43 ~534 80 1912 69 147 25 75 16 6614 li-412 2912 89 !!31 2 80 160 2934 80 l t' ill2 814 2014 18 85 17 777s 47s 5414 3414 93 2834 ---- ---- 56 48 97s 257s 22 86 2212 777s 514 5634 383s 98 32 IJ 2434 2012 86 17 ____ 412 5314 33 96 301s 50 43s 41 8 1012 40 ____ ____ 2 403R 40 4!i=18 401 2 4 50 558 41 8 1114 4034 ____ ____ 2 47 4434 ---- ---- - - - ---- ---- ---- ---- ---- 59 5t,i 2 62 113s 347s 24"/s 87 2012 12 11 36 34 26 24tR 945p 92 2178 193.1 12 363s 253~ 9212 2212 1119 351; 2912 9534 201 2 1014 32 27 9012 5212 5112 60 651 2 56 143-1 17 65 GS 99 1007s 105 10·~ 591 2 26 3312 24 2912 8534 0034 8812 9234 193s 251 2 23 3034 71 811 2 76 86 150 154 151 16112 253s 361 4 3212 371 2 ____ ____________ 1514 20 1614 19 65 75 14 7134 :21s 533s 50 10 30 2512 91 17 318 101 2 44 ____ ____ 2 4312 421 4 ---- ---- 62 ____ 118 5 14 49af. ____ ____ 2 521 4 5234 JO 51 4 31 4 1234 4734 34 33s 1.90 431 2 431 8 • ___ ---- 68 50 01 4 3's 1458 50 13,t 312 1 98 461 4 49:;8 ---- 621 4 65 4~:: at;; l 90 100 421s 4814 25 2814 84 861 2 1114 2018 6978 78 149 15014 2334 251 2 1018 :;3 2::!34 87 . 18 59 41 2 121~ 1178 14/p 141 2 1638 40 391 4 50 48t 8 5234 2912 28ls 35 3114 34 92 91 96 9412 9534 1758 22 20 2~a4 1914 2234 80 80 76 80 761? 8134 5 434 5·1P. 558 61s 51 4 6 534 7:i8 7 1014 s1; 97s 57 5434 62 60 62 5712 621l? 60 6978 63 7678 72 ~ 7678 38 34 4014 391s 4214 36 411.1 39 43 42 4734 4514 5034 9812 98 104 102 103~R 1021s 105 1011210314 10314108 107 109 3134 303s 3434 3312 363p 323-1 36 3414 :n1 2 35 4434 4014 4378 88 90 90 90 9012 92 92 93 9234 97 9312 9634 4 412 534 912 714 814 7 8 712 Tos 734 87s 7 834 734 103s ___ _ 234 33s 31s 41 2 312 41 8 312 334 4 41 4 '41~ 41 2 4 5 41 2 418 434 51 4 558 31 2 13 14 1512 1912 18 2012 18 18 18 21 21 · 23 20 251 4 231s 25 24 2934 2812 3734 1212 177s 1912 255g 2112 2912 2512 287s 2612 2834 275g 3178 2312 2978 21 273~ 24 2S 21 2738 614 7 7 101 2 9 1012 1038 131 2 101 8 1114 10 101 2 111 4 1514 14 111 2 1134 87s 101 2 9 1s12 1812 1834 23 20 261 2 1812 2112 20 221 2 23 26 231 2 24 24 24 30 32 ao 3614 313s 3734 4214 4838 461g 5238 407s 5112 4714 561 4 53:i4 5958 44 571:z 4534 5018 50 59 5358 5878 86 9014 9114 10014 100 10312 100 103 10012 106 106 109 1001 2 107 104 1061 2 1061 2 uo,8 1091 2 113 34 34 34 12 8 8 2 - 25lg 251g 2:18 3fi! 2f 2g5g 3~ 2g12 3~ 3r 3~ 4~ 4; 5~~: 4; 4~38 4! 4f 4~ 73 80 7412 78 76 7812 78 8214 78 7934 78 8:l78 795g 841~ 79 s21 8 SOis 821.1 821 4 g41 8 7934 84 5512 6814 58 745s 66 7234 6914 785s 73 7714 76 9014 8Sbs 107 79 991 4 8312 9431 9134 9878 7634 9412 8734 9112 90 98 941s 97 9534101 977s 1007g 100 108 106 1103p 100 10914 lll234 10578 1051 4 1091 2 98 10734 American Snuff- ___________ ---____ 200 200 ___ . -- ·· - 180 180 180 185 19014 200 200 200 ___ __ __ _ Preferred-- -------------- 85 85 81 81 80 81 88 96 92 92 9012 9012 __ __ 95 95 95 9712 ____ 9312 97 96 9712 American Steel Foundries---- 534 7 412 512 512 6 514 614 67g 7 67g 712 8 S•s 8 9 9 9 712 712 9 10 Preferred ____________ ____ 29 34 261s 3012 30 3134 31 34 3414 35 35 35 38 43 40 40 41 41 421 2 4258 _ ___ 471 2 471 2 New stock-------------- - ---- ___ _ ____ 32 3714 28 32 2912 31 3012 41 385s 4014 Tr Co ctfs deposit ________ - --- ____ 412 6 514 57s 53s 634 6 658 6 712 734 s1 4 8 !! ___ _ ________________ . __________ _ PrefTrCoctfsdevosit- --- ---273s 3012 30 317s 30 33 32 3478 3312 3734 3634 41 33 351 2 _______ _ American Sugar Refining Co- 9834 115 10712 1147s 112 128 123 129 126121321s 12112 13012 1251s 13312131121373.1 i2fils 137 12912 13414 13134 1371? 12f,3s 1337s Preferred ________________ 108 ll41s 105 113 114 ll934 12012 123 123 12514 1241s 125 12.:l 12834 12612 129 125 127 126 129 12858 131 129 131 American Tel. & Cable CO---- 53 53 5334 54 50 50 58 6012 65 65 G4 1'1412 ____ 68 70 71 71 72 7512 7712 78 American Telep. & Teleg Co-_ 101 uo 105 1061 2 10634112 1101.2 120 117 1187s 116 1201s 1151 2 122a8 1211?. 12738 12531! 13134 126141281 2 1267a 1325s 12634 12978 American Tobacco (new) pref 7212 817s 77 801s 77 8512 85 92 90 9212 8812 9112 90 9714 !Jll2 96 91 9512 93 947R 91 9714 !l034 9534 American Woolen CO------ -- 1534 2012 1512 1914 16 2112 1814 21 1934 24 201g 24 22 243~ 2314 2634 2312 2434 2134 24 24 31/g 275g 323s Preferred ___ __ ____ __ __ __ _ 8412 86l2 7814 841 4 7914 8414 8314 85 8414 901 8 8734 89 877s 9314 9214 94 91 92a4 91 92 9112 97 9412 9534 Associated Merchants' 1st of ---____ ____ 100 100 Bethlehem Steel Corporation- 12 16 1312 14 12 14 133s 1512 1312 1634 1314 1534 141,1 21 1912 24ll4 18 233.i · 20 23 22 2714 21 261s Preferred ________________ 3512 40 3812 3912 3512 3512 35 38 391s 44 40 • 44 44 50 491,11 5:~ 4612 52 4512 49 49 57 5, 56 Brooklyn Rapid Transit----- 383s 4712 3714 4678 3934 48 441s 483s 457g 54 447s 5014 4712 5314 5012 5712 44 5514 4612 50~s 4812 5612 547s 6934 Brooklyn Union Gas ________ 90 96 85 94 89 109 110 llO __ __ 112 112 11.5 136 128 ms 13434146 l::!814140 l::l7 15214 146 151 Brunswick Dock & C Jmpt-- 6 7 6 7 77s 8 8 934 9 llllJ ____ 101 2 113J lll2 1234 12 13ltt 12 1414 1314 17 135s 165s Butterick CO------------ --- 20 25 121s 15 18 1812 1612 23 18 24 20 21 19 2034 l!! 2234 19 213s 185s 217a 21 23~~ 211s 227s Central Leather------------ 161s 1912 151 2 1812 167s 205s 1!!38 251 8 231 2 211 2 2312 2612 25 2914 2731 J03g 2334 2914 2412 263s 24's 303.IJ 2734 33 Preferred ________________ 7534 86 781 2 84 8212 877~ 87 91 92 951 2 9234 955s 9378 971 2 0612 9x 93 99 94l r 961s 97 1011 4 991R 102 Cent & South Amer Teleg ____ ---- ____________________ 100 100 105 105 __ ______ 101 10712 ________________ 107 107 ________ J 'J7 10812 Chicago Union Traction----- 2 2 ________ ---- ____ 114 17s 2 214 ______________________ .. ____________________ - -- - ___ __ Preferred ---------------- 1212 1212 ____________________ ____ ____ ____ ____ ______ _______ __ _ ____ ___ ____ _ _______ __ __ ___ Trust Co ctfs deposit------ 2 234 212 3 1 212 5g 3 114 4 31s 334 3 3·1s 3 3<>s 212 3 212 21 2 27~ ,11 2 41s 71s Pref Tru st Co ctfs deposit - - 10 10 6 6 6 6 -1 9 7 143 9 11 93.1 13 11 13 11 123E 10 12 10->s rna,1 127s 18 Connecticut RY & Ltg oreL. ---____ ____ ____ ____ ____4 ____ ____ ____ ____ ____ ____ ____ 72 72 Consol idated Oas-- --------- 06 10534 97 103 96 11714 11212123 ll9 129 12112126 124 14114 13-1 1473~ 136 15412 13!! 148341421216714 1.;734167 Corn Products Refining ._____ 107s l ;,34 1034 131 2 1114 1434 127s 1538 1412 1814 1534 171s 1612 195s 185s 2012 17 1934 ·1716 1s1~ 1~ 2038 1614 187s Preferred ________________ 56 66 57 63 5714 66 6,.; 7012 68 7314 6712 703e 6934 7512 76 80 73 7734 73 74:,~ 731s 781 7112 76 Crex Carpet_____________ _______ _________ ___ __________ __ ________________ ~- - - ____ ____________ 4712 4Xl~ 48 48 4 49 4934 Detroit United RY-- -------- 38 3814 ::l3 33 __ ______ 321• 33 ::i::i14 38 35 4i 39 42 39 39 38 38 3912 45 45 56 5334 55 Distillers' Securities Corv- ___ 2914 35 2714 33 283s 35 3014 345g 22 3734 33 3534 335g 3714 351s 3812 28 :-s534 293s 32 303s 361 1 3414 3834 Federa' Mining & Smelting__ ____ ____ ____ ____ ____ 80 80 80 80 7934 7934 7512 80 88 94 7!Jl2 791? 80 so 7'.!19 90 _______ _ Preferred ____ ___ _________ 64 6914 59 66 66 74 70 7234 6912 7612 71 7712 80 85 84 8834 78 8412 83 8434 8412 89 8014 861,t P~deral Sugar Refining ______ ---- ____________ ---- ____ ---- ____________ 6412 6812 55 63 60 62 _____________ ___________ ---- ___ _ Preferred ------------ - --- 75 85 7312 8612 85 87 89 90 89 90 91 98 9514100 95 98 9314 9534 ____ 90 90 General ChemicaL---------- ________ 50 50 55 58 60 60 65 65 ____ ____ 52 1>2 ____ 6014 6014 Preferred _____ ____ _______ ____ ____ ____ 90 90 89 90 97 9912 921s 921s 96 98 95 95 97 97 99 99 General Electric------- - ---- 111 125 113 ll9 1141212814 12812136 13212142 1307s 13834 13<H214812 142 148 1341214S 137 11512 144 160-14 1551216234 Ha vana Electric------------ ________ ___ _____ 20 20 217s 2178 23 23 __ __ 23 23 26 3278 3112 341? 3112 32~ 32 35 34 40 Preferred _ __ ______ _______ 70 70 _ __ _ _ __ _ . _ _ _ _ _ _ _ _ _ _ _ 70 ·, 4 74 7 4 __ _ _ _ _ _ _ 77 77 7973 797s 80 8014 80 80 84 84 Ingersoll-Rand ----~------- ---- ____ ---- ____ 50 50 5112 5112 ____ ____ ---- ____________ 697s 70 ________ ___ _____________ ---- ---Preferred________________ ____ 80 80 84 84 8412 8412 ____ _ _____ ______________________ _ Interboro-Met vot trust ctfs- _ 634 878 ns 834 67s 819 73s 1112 934 12as 101s 1212 11 12 Ills ia1 2 10 1211 934 11 10 151, 14 20 Preferred _______ _________ 1814 2314 1718 ~21 2 1712 2134 20 30 2714 331 2 2714 33;s4 2014 32.14 31 38• 1 2978 35 277s 3234 2914 3714 3412 4912 International Harvester-- ---- ____ ____________________________________ 5..:: 60 5912 59Iz 56 5~12 57 57 54 56 5312 675~ 62 66 Preferred ________________ ________________________________________ 99 1011210134 1053g 10312106ts 103 105 103 105 104 1101410834110 Internat Mercan Mar stk tr ctf ____ ____ 7 8 712 9 714 8 7 8 7· 2 734 7 73s 6 612 6•s 87s 7!2 87g Preferred ________________ 1612 18 16 1614 18 21 1834 201 8 20 2334 2014 2314 20 221!! 20 23 191 2 23 183s 201 2 1878 24 211.1 267s lnternationa 1 Paver_________ 8"rs 1214 9 107s 85s 10 8 1012 91s I lls 914 11 10 107p lOts 11'>s 834 1012 S•2 1012 10 Ul4 1112 127g Preferred-- _______ __ _____ 52 65 57 6112 53 5812 5234 56 53 60 547g 58 r,212 5858 56 5912 5014 58's 47 53:14 1>31s 60 561g 5812 International Power-------- ---- ---- ______ __ 35 35 29 3214 ~l 31/s ____ _ ___________ 30 30 International Steam Pump_ __ 13 2!14 1114 2014 19 26 217s 2&- .i 2134 245s 2214 2434 2'.l14 24's 227s 2112 20 25,, 23 3034 "91o 341~ 30•~ 397s Preferred ________________ 65 731s 65 6758 6758 743s 70 711 4 69 7434 7312 77 7619 805s 77 81 78 331; 79 8234 7912 827s 7!!7s 8414 Laclede Oas, preferred---------- ---- ---- ____ ---- ____ 60 7412 ____ 70 - 70 ---- ____ ---- ____ ---- ---- ---- ____ --- - ---Mackay Companies--------- 55 60 52 55 5534 57 57 6234 62 66 65 66 64 70 66 7014 67 691_4 68 7,"> 7::lls 78 74 76 Preferred ________________ 61 64 5978 6212 6112 64 62 66l2 6334 6734 6412 66 65 69 6734 69'l4 6712 70ts 683R 7014 697s 7FJ4 69 71 Manhattan Beach CO-- ------ 214 214 ____ _ ___________ ---- ____________ ---- __ __ ---- .. __ ---- ____ ---- __ 21s 2111 Metropolitan Street RY--- --- 20 25 15 20.'>8 16 17 25 35 24 30 25 2834 29 30 30 43 2', 30 28 28 28 34 30 44 10 National Biscuit--------- - -- 68 76 72 7614 75 88 8:l5s 85Js 84~4 9134 8812 92 8714 8934 87 90 877s 921:_, 8912 97 s21 2 78 8634 84 Preferred ________________ 102 10612 107 1071 2 110 1131 2 11512116 115 116 1145111145~ 116 120 116 120 lli34 l1734 11612118 117121191& 1173412012 Nat Enameling & Stamping__ 8 934 11 2 71 2 814 10 91 8 1034 914 11 1Jl4 10 912 11 10 121 8 913 105~ 912 101~ 1o;1.1 1212 1112 151.t Preferred ________________ 75 so 74 75 75 76 771 4 771 4 77 775s 76 761R 76 811? 82 8214 77 77 73 77 National Lead Co---------- - 38 4212 36 4558 H 60 5334 601 2 5758 6858 6312 683s 643,i 73 72ls 1>2 74 8614 7ll 8512 82 86l2 75 84 1,q Preferred _____ ___________ 871 2 91 89 91 881 2 961 2 95 97 961 2 10034 Y834 99/g 99121041 4 102 lOfi lOF>s 10212 10214104 104 1061.i 104 106 New York Air Brake---- ---- 50 72 56 62 56 691 2 641 2 731 2 66 721 2 65 681( 66•s 80 74 8314 6712 82 1012 79 14 771g 98 87 9ut2 Rights------ --------- --- ---------- --- te 114 ---- ---- ---- ---- --- . ---- ---- ---- ------- ------- ---- ----_ _______ - ·· -- ----_ New York Dock---------28 20 ---- __ ___________________________________________________ ______ ___ ____________ Preferred ________________ 70 71 1014 701 : 73 73 74 74 ____ ____ ____ 747s 747s ___ _ - - -22 18 8412 13 65 512 523s 323s 9034 345s 80 412 37s 1534 197s 83s 22 3434 4134 8512 92 1 2 2f 3i;: American Smelt Sec, pref B- _ 70 8034 American Smelt & Refining. _ 625g 7914 Preferred---------------- 8914 96 812 2112 1812 ____ 1314 75 5 511s 3334 9312 2914 85 6 312 1612 2134 77s 1834 48 9434 45 _ ___________ 8 5 714 5 712 6 5 55s 4 514 143s 1112 135s 1112 127s 4712 42 4214 43 4434 ____________ ---- ____ ____ _ ____ ____ 1.81 1.85 ____ 3914 3514 3758 35 40 33 3012 3412 3318 401 2 105 105 57 64 25 32 8912 9334 261 2 31 84 87 157 15978 3412 3958 85 91 17 201 8 66 72 ~~~- 1_0_9__ 58 6338 2412 2634 91 9214 2512 2914 82 84 1551415912 36 3834 95 95 1638 1934 63 1112 ~~~~21_1_~1~ 60 6634 2412 2712 92 9612 2s1s M~4 85 9514 1581416812 361s 4512 951s 9912 1758 21'•8 663s 7-114 ~~~•~~ 1_1_4~= ~~~- 615~ 66:ls 2414 2612 94•s 9734 33 3612 95 9714 165 1661:_, 4112 463s 100 100 2034 253s 73;;8 8:ll2 1_1_6_1~ 5912 645x 24-1s 2814 931s 9712 2812 3S:Jg 9234 96 16012 16,5 34 4414 100 1:)01.~ 2u111 21ag 75 82 ~~~- 1_1_1__ 6212 66 14 2434 2612 9412 9612 311,1 3414 !l2 95 162 16534 363~ 41 97 98 21 245s 78 817s ::~- 1_2_2__ 11~1/ l ~ 6,'>34 78 71 5s 77 12 2filg :{312 3a 40 1-1 95 102 99 7s 10612 335s 41 38 14 45 95 993.1 97 1210214 169 174 16814 173 4012 461& 4234 49 1.i 9612101 100 103 241s 29 24 273s 8114 8912 8514 87 3s RAILROAD AND MISCELLANEOUS STOCKS. 120 1008 - Concluded. STOCKS Sears-Roebuck. preferred - - - Sloss-Sheffield Steel & Iron-_ Preferred - - - - - - - - - - - - - - - Texas Pacific Land Trust- - - Third Avenue- -- - --- - - - - -- Toledo Railways & Light- --Twin City Rapid Transit----Preferred - - - - - - - - - - - - - - - Union Bag & Paper--------Preferred - _- _- _- - - - - _- - - United Cigar Mfrs, pref - -- United Rys Inv of San Fran - Preferred - - - - - - - - - - - - - - - U S Cast-Iron Pipe & FdrY-Preferred - - - - - - - - - - - - - - - u s Leather preferred - - - - - U S Realty & Improvement- U S Reduction & Refining _- Preferred ________ - - _- - - - US Rubber Co----------- - 1st preferred-_ - - - - _- - - - - 2d preferred- __ - ___ ____ - __ U S Steel Corporation--- - --Preferred - - - - - - - - - - - - - - - Virginia-Carolina Chemical- - Preferred- __ _ ________ ____ Vulcan Detinning __________ _ Preferred - - - _- - __ - - - _- - __ Western Union Telegraph ___ _ West'house El & Mfg, assent'g 1st prefetred- ---- - - - - - - - - January Fe/JrUary 0 -;;,ober A'[JTU M'Ly June July August September Noi·-rmbe:r D ecember March Low Htuh Low Htgh Low Htgh Low Htgh Low Htgh Low Htgh Low Htgh Low High Low High Low High Low Ht .h Low High - --- ---- ---- - - - - 42 92 58 2234 1314 8914 : 20 124 412 5 4473 50 84 80 15 2112 2 712 381g 19 2113 565g 69 95 100 37 4212 512 7 18 2014 20 26 8812 77 4612 6114 2534 3Jl4 8712 953g 17 1814 91 87 36 8712 52 18 912 8412 - -- - --- 54 41 70 38 90 45 1714 914 7814 ---4 47 82 15 34 1712 631g 95 3614 4 16 1734 76 42 2612 891g 16 87 --- ---- ---- ---- ---42 41 52 43 48 92 5012 22 1012 8412 --43g -50 83 20 3712 20 6 -S 96 3934 434 18 22 81 50 2914 9334 1712 90 9112 49 1512 9 8212 -- - - 93 59 20 10 85 88 58 18114 878 84 ---- ---6 -4 6 51 55 81 85 16 1873 3373 3733 1834 2712 6333 7114 95 95 -11 38 612 9 19 25 2338 18 77 86 45 56 2814 3614 9214 100 1612 205g 8934 9414 3 3 55 8934 60 39 10 8734 ---65g 57 --2412 -- 16 34 43 235g 26 68 72 9712 f, 8 40 41 7 9 20 22 1812 2212 80 85 49 54 3253 37 973g 10134 1914 2134 9012 9312 31g 31g ---- ---- -- - -- -- -- - - - -- - --- - 25 28 60 41 5534 4634 5434 4834 54 521g 3912 435g 38 46 · 778 58 77 70 70 80 68 77 58 ---- 8612 90 4434 5214 95 92 57 60 3418 30 934 1514 8614 9214 123 123 5 612 5613 58 88 90 21 24 4173 39 245g 29 72 76 98 101 523g 40 814 1314 2214 3333 2012 2653 8214 95 51 61 3513 393s 100 10334 2013 2534 94 10012 91 91 90 49 5112 53 9512 9612 9612 58 2938 3434 2!Jlg 9 912 10 89 9112 89 \JO 63L4 99 60 337g 1014 9214 ------- ---92 92 9012 9012 6012 6514 100 10212 6412 7212 3212 47 83g 10 88 9114 -- -- 6514 59 103 103 697s 7212 3958 47 8 812 85 90 9:{I? 977~ 6014 723,: 723g 8 134 10214108 107 1001,1 70 76 - --405g 2412 3814 27 612 87g 814 912 8834 911 2 90 9512 --- - - --- -- -- - --- - -95g -83-t 95g 7 8 12 8 653 8 6014 61 6634 60 6134 59 96 97 95 91 24 34 2134 24 33 341.i 47, ~ 4912 42 43 50 38 2512 :!0 14 2312 2634 2334. 26 70 73 72 7134 761? 71 118 11::ll z 115 --51- - 114 4!1 51 5534 5433 64 87g 10 10 14!2 9 9 24 28 28 35 25 27 2873 :!5 30 3513 3214 371.1 99 101,14 ~912 107 951.i 101 6;:! 73 68 6912 70 751 ? 4l !g 481~ 45 481/l 4712 53:i.: 105: 8 1121 8 10734 111 110-34 1145g 3018 3413 32 2714 30 45 107 1097g 1os.,-1112 11012115 712 1012 ------------- ---35 50311 5814 61 5912 713~ 5012 611 R 5112 5773 5412 5734 5412 5814 551!,' 62 7112 84 8212 94 8012 6612 79 44 5712 5312 8112 65 4312 58 88 95 98 100 10()12125 92 95 79 98 80 72 65 E4 5 613 57 57 917g 92 2014 24 3533 40 1912 2734 6412 7434 10414 10414 4534 50 9 10 2212 23 24 26 9014 94 58 60 3614 391g 10034 103 2214 2512 9912 10114 414 414 534 118 73R !J 64 5534 5914 59 --- - --- - 93 93 20 23 2012 22 3934 <5 (jl4 393g 36 2534 247s 2858 21 7 234 787g 657g n 102 10414 115 115 46 4934 52 52 1514 14 11 12 39 2514 3258 33 2438 31 3712 31 99•1s 9712 10234 93 61 74 70 65 48 3734 457g 44 11212 1067 10234 1091s 8 30 237s 263~ 25 9934 10212 10312110 -- -- --- - 512 512 --101- 8 7934 110 11014 76 841z 31 43 Xl2 15\e 963g 94 64 14 6612 98 98 40 31 47 5912 2712 307g 7434 7712 11 5 1:.10 5734 6334 14 13 297s 32 :! J34 36 !05 108 72 7512 511,t 5614 li0l 2 l135g 4:2 14 4534 11:!lg 115 912 8 4814 5012 6533 ll 8334 91'2 11 5 120 1909. STOCKS January February March Aprtl May June July A ugust S eptember October November December Low Hi(Jh Low High Low High Low Hi{Jh Low Htgh Low Htah Low High Low H i gh Low H-igh Low High Low Hi(Jh Low High ------------1----- ----- - - - - ____ ,____ ,____ - -- - - - - - - - - - - - -- - ---- - - RAILROADS. Albany& Susquehanna __________ ________ ___ _ ________ 226 226 ________________ ________________ _______ ____ ____ _ ______ __ ___ _ __ _ Ann Arbor-------------- - --____ ____ 20 25 ____ ___ ____ _ __ __ _____ _______ ________ ____ ____ __ __ __ _ Atchison Topeka & Santa Fe- 977s l0Jl3 981210353 102331085s 105381097g 10658 11012 109 117 11 53s 11934 11 6 1211s 11 578 12458 11918 12538 1181 8 12458 11 858 124 Preferred---------------- 10014 10134 101141021s 102 104331031210413 10334 105 104 10634 10414 105 10414 1053s 104 105 1031210514 10418 10518 1031 4 1053 Rights------------------ - - - 73 1 ___ ___ _____________ _ ____ ___ __ _____ ____ ____ ___ _ _ Atlantic Coast Line RR------ 10712111 1081g 12212 117 12212 12112128141261 2 1291212734 135 128 13412 133 14312 13212 1391 2 13312 14034 133 13914 132 139 Baltimore & Ohio----------- 10853 11212 10312110121061211212 1111211478 11378 11534 11434 120 11734 12214 11514 12038 11434 11958 114 11 858 11434 11778 11434 11318 Preferred---------------- 9212 931 2 92 9334 9334 947g 94 96 9312 9534 931 2 95 9434 9514 93 94 9312 95 93 941 2 91 9212 9134 921, Beech Creek------------- - ___ _ ____ 100 100 ______ _____ _ ________ _____ ____ _______ _______ ___ ____ __ ______ ____ ___ _ _ Buffalo Rochester & Pittsb - - 90 90 ---- ---- ___ _ ____________________ 92 92 97 9934 90 90 _______ ____ ___ ___ ___ ___ _ 100 105 Preferred------ - ------- - - - --- --- - -- - - -- - - --- - ____ ____ ____ 130 130 130 133 _______ __ _____ ____ ___ ___ ______ __ 133 133 Buffalo & Susquehanna, pref_ -- - - ____ ____ 63 63 62 62 62 62 ___ _ _____ __________ ____ __________ ___ _______ _ __ _ Canadian Pacific ___________ 171 17814 1673317414 165 17373 173 179 1793g 18 134 17934 18538 1821s 18814 18314 18914 180 1865g 18 112 18938 tl7 578 185 178 1s21 2 Rights ------- ----- ----- - --- ____ ____ ___ _ ___ _ ____ 9 91~ y.4334 101 8 Canada Southern ___________ 6014 6514 6434 65 615g 66 6612 67 65 68 65 68 671 2 6812 6812 6934 685g 6834 6812 6812 68 701, 681 2 70 Central of New Jersey _______ 229 235 215 230 225 228 235 282 278 29812 285 29434 287 291 291 315 305 32312 295 302 290 31634 3041 2 314 Chesapeake & Ohio _________ 555s 6514 61 6814 6334 7033 6914 7734 7434 3014 75 7958 7633 7978 7812 8378 7918 8938 8558 90 3514 8958 8434 911 4 Chicago & Alton------------ 6014 7014 577g 6534 5812 7134 69 7434 6958 723s 67 71 12 67 6934 64 6912 627s 70 6534 7058 5418 69 66 69 Preferred - --------------- 74 7 614 71 71 72 7812 73 73 7512 7734 74 731 2 7234 73 7234 741 2 70 70 70 71 76 727s 7278 73 Chicago Burl & Quincy ______ 210 210 ____ 200 225 250 250 ______ __ 249 249 __ _____ _ Chicago Great Western------ 634 1112 6 834 414 718 412 51 2 434 51 4 2 51 4 12 218 34 51 2 31 2 4 ___ _ Certificates of deposit- ---- -- - - - --- -- -- -- -- - --- ---- - -- - __ __ ___ _ ___ _ __ __ ____ __ __ ____ 234 a 1234 a l0l4 bl6 bl 314 c1912 c1914 211 4 cl 9 243 4% debentures ___________ 60 611g ---- ________ ____ 62 62 63 64 5514 60 58 60 60 60 ______ ____ _______ __ _ __ ____ _ _8 Certificates of deposit- - --- - - -- - - - --- -- - - -- - - ____ __ __ __ __ ___ _ ____ __ __ 62 62 ___ _____ 611 4 64 65 65 6% preferred A- - --------- 25 37 2934 3512 2513 3073 27 28 26 29 23 2834 24 251 2 315g 32 ___ _ Certificates of deposit- - - -- ---- -- - --- -- - - ---- ____ ___ ___ ___ ___ .. .. ____ ____ 27 3 534 3 11s 3534 30 32 32 i s1~ 33 46 4% preferred B----- - ----- 712 141s 8 1012 612 91 8 7 8 634 71 2 4 71 8 4 434 438 878 ____ _ __ _ Certificates of deposit_ ___ ---- --- - - - -- ---- ---- ---- ---- ____ ___ _ __ __ ____ ____ ____ ____ 712al 67s a 151g b21 bl 8l4 c24 c2412 2612 c25 311 Chic GtWestern trust certfs _ ________ ---- ___________________________________ _ ________________________________________ 3 11 3 738 2 Preferred trus f certfs ______ ____ · -·- __ __ ________ _____ __ _______________ __ 583 643 4 Chicago Milwaukee & St Paul 14634 15134 141 14814 141 1487s 1467g 15178 14834 15314 150 15718 15314 1587s 15413 16312 15312 16513 15512 164 15314 1591 4 15312 15918 Preferred------------ --167 160 164121581216512 1643416658 164 1661 2 165 17034 16914 170 16934 18 1 175 18078 173 17912 1111 2 175 171 173 Common installment ctfs __ 164 14333147 14112147 ________________________ ______ __ _____ ____ ___ ____________ __ ____ ___ _______ _______ _ Preferred installment ctfs __ 160 165 15912 164 Chicago& North Western---- 174 185 1731gl79111176 182 180 18314 180 18414 180 18612 18212 18734 187 1981 2 190 19678 13514 19212 17734 190 175 18212 Preferred _____________ ___ 214 225 212 212 208 214 216 220 218 220 220 223 22 1 22212 225 225 22 2 222 225 225 ______ __ 22 1 225 Rights ------ --- ------------ ---- ---- ____ ____ ___ _ ____ ____ ____ ____ ____ ____ 151? 1512 Chicago St P Minn & Omaha- 155 156 ---- ---- 152 15234 148 153 ____ 159 16112 --- 16312 167 160 1641 2 160 163 155 156 155 -1 57 Preferred ___ _____________ 16612169 ________ 170 11018 165 165 171 174 17 5 180 170 180 ____ __ __ _ ____ _____ __ 170 170 Chicago Terminal Transfer- -- 4 412 4 4 3 4 2 3 312 312 2 2 2 37s ___ _ 2 2 3 3 2 3 Preferred ________________ 1712 20 1812 20 ____ ____ __ __ __ __ __ __ ____ 181 1314 ____ _ ____ ___ _______ ____ _ 4 Clev Cine Chic & St Louis---- 68 73 6914 7912 72 7814 73 763s 7234 7534 73 773s 74 77 73 7734 71:;8 7634 75 79 74 7918 74 3314 Preferred---------------- 100 101 103 103 10273105 ___ _ ____ 1005g 102 10218 10314 103 103 ________ 105 105 __ ____ __ ______ __ 10418 105 Cleveland & Pittsburgh, gu __ ---- ____ 175 175 _____ _____ ___ _______ 175 175 __ __ ______ __ _____ __ _ Colorado & Southern________ 571s 6814 5934 67 6134 6514 6214 661 2 6413 6712 56 6434 5512 5712 54 561 2 5178 54 51 531 2 5312 60 53 14 5712 1st preferred------------- 7612 851 2 80 85 803g 8434 7934 85 82 86 81 83 8 1 8212 8 1 823s 7912 8213 78 80 7 912 8 11 2 8 1 8178 2d preferred ______________ 7314 8412 7614 8 214 78 8112 761 2 83 8014 8414 80 8034 8014 80°s 80 801 2 78 81 78 7812 7812 8078 so1 4 so12 Delaware & Hudson ________ 17412 182 168 177 173 17914 1777s 185 18034 200 184 195 192 1957s 18912 1975s 189 19634 182 19212 180 189 18 1 187 Delaware Lacka & Western-- 547 550 535 545 545 550 54934 680 650 675 645 660 64 9 650 550 575 550 555 550 570 560 590 590 630 Denver & Rio Grande-______ 3763 44 40 487g 4212 4612 4612 54 483s 5238 461 8 5238 463s 4912 4612 525s 43 481 2 441 4 50 46 491 2 4734 5318 Preferred _________ _______ 7912 835g 8112 90 845s 88 87 891 2 87 88 851 2 8958 841s 86 85 8934 351 8 873s 8334 861 2 3312 85 8378 3712 Des Moines & Fort Dodge ____ 1512 1634 ____ ____ 1512 1534 ________ 13 13 12 12 _____ __ __ ____ ____ 9 11 121 12 . ___ •... Detroit & Mackinac--------- ____ ____________ 40 40 ______________ ___ ___ _____ ______ __ _______ ___ _ _____ ___2 __ __________ _ Preferred---------------- ____ 8712 8712 95 95 ____ ____ _____ ____ ____ ___ • •. . _______ _ IJuluth South Shore & Atl - _ 1514 21 1512 18 1612 1914 1673 1812 1634 1838 1514 18 16 173s 15 1714 1514 16 141 ? 161 ? 1414 1534 1514 19 Preferred---------------- 30 3612 28 3114 2934 3314 3114 331 2 3034 3318 30 3234 3 1 3234 30 3314 2312 301 ? 231; 3 134 2812 301? 301? 353.i Erie---------------------- 285s 3434 2534 32"s 2253 30 2814 32 31 3514 34 39 355s 3734 34 385s 3158 3 614 3134 3 5 32 3438 321 4 341~ 1st preferred------------- 41 5112 4014 4912 3612 453s 4414 495s 4812 52s8 51 551 8 5212 55 52 5634 4734 5378 46 501 4 46 50 47 5178 2d preferred ______________ 33 401 2 32 3912 2812 351 2 345g 401 8 40 431 4 4114 4.534 4214 45 421 4 46 381 2 44 38 421 2 38 41 331 2 42a8 Evansville & Terre Haute ____ ---____ ___ _ ____ ____ ____ ______ __ 60 60 60 60 60 60 _____ ____ _______ ... . __ __ _ Preferred - - - - - _- - - - - - - - - - __. . 85 85 83 83 85 85 Great Northern, preferred---- 14034 14814 1365s 14412 138121457s 142 14758 14312 148 14612 15118 14812 1537s 14 934 15778 150 156 14218 15414 14034 14578 140 14458 Ore Certificates- - - -------- 70 74 6514 7273 651s 6914 6733 7012 6812 7412 7334 7784 7434 783g 773s 8812 7914 8434 78 8 4 771 8 831 2 7734 821:i Green By & WesternDeb ctfs, Ser A---------- ---__ __ ____ 85 85 85 85 85 85 821 2 86 Deb ctfs, Ser B ---------- 15 17 14 15 14 14 14 17 1512 161 2 15 1612 155s 157s 1534 1534 15 151 2 14 15 1312 141 2 14:i8 21 Hocking Valley, preferred - --- 911 2 93 90 93 90 91 88 92 90 9014 8934 9412 93 9312 93 941 2 90 92 90 90 90 9012 8934 901:i J P Morgan & Co, com rec-_ 103 106 103 103 102 104 98 104 97 97 . 101 118 1041 2 11 5 11 4 126 122 1221 4 112 118 116 12018 117 124 Illinois CentraL------------ 142 149 137 14414 14034 146 14334 14734 14434 1485s 14614 15134 14 81s 15812 15212 1621s 14712 15534 14514 1541 2 146 14834 145 14912 Leased lines stock------- - ---____ 99121001 2 100 10014 __ __ 9912 9912 ____ ____ ____ _ ___ 100 100 Io wa Central ___________ ____ 2912 3414 27 3212 28 30 2873 36 31 3334 28 3238 29 3212 29 3278 281g 3038 211 2 3078 2634 2934 2734 301 4 Preferred ___________ __: ____ 541 2 6134 55 61 5512 5912 5712 62 57 5938 5412 5834 55 5734 55 59 48 561 2 50 53a8 4858 52a8 4!l 551 4 Kanawha & Michigan------- --- ---- ---- ____ ---- ____ 42 42 _____ ____ ___ .... ____ .... ____ ___ _ ...• ___ _ Kanawha & Mich tr rcts----- 5314 5312 ____________ 56 56 50 50 57 57 53 61 ___ _ ____ 57 57 55 60 57 57 51 55 KC F S & M, tr ctfs, pref ____ 75 75 7434 76 75 7614 76 7712 7734 7912 7612 791 4 7712 7812 78 7914 79 82 80 82 80 8034 77 8012 Kansas City Southern------- 39 · 433g 37 43 4012 473s 441 2 4712 4412 483g 43 471 2 443,t 485s 46 5014 45 481? 4278 4578 421 4 4578 4258 45 Preferred _________ ___ ____ 6912 7434 677s 727s 7012 7478 1218 7334 121 2 74 71 7312 7138 7312 7212 751 2 71 73,8 70 72 70 721s 70 7214 Keokuk & DesMoines------- 612 8 6 6 5 5 ____ ____ 6 6 6 6 75s 75s 8 10 ____ __ __ 6 71 8 71 8 1134 8 934 Preferred---------------- ________ 25 25 ______ ______ 26 26 30 30 32 42 __ __ 40 40 43 45 43 46 Lake Erie & Western-------- 20 24 1912 2212 20 211 8 22 2334 22 251 2 2412 28 26 2678 25 291? 25 27 ____ __ __ 211 ? 241? 24 2,1 ., Preferred------ __________ 48 5273 4912 54 50 5313 5112 56 51 53 52 6478 58 6134 58 63 - 55 6134 53 5812 5512 5812 55 64 Lake Shore & Michhran Sou-- - - -- ____ -- - - ____ ____ ____ 300 320 __ __ 310 3 10 308 308 ____ _______ ___________ __ .... __ _ _ Long Island _______________ 59 6612 60 60 61 6712 64 6634 65 7113 6673 7014 67 7034 67 6934 651g 681 2 65 66 64 6414 6412 7112" Louisville & Nashville _______ 121 12734 12112.1307312734 13434 13312 140141381214038 13914 14512 140 - 1467g 1451416212 149 1553s 149 15534 14918 155 149 1591 8 t Ex rig hts. a 1st Ins tallment p aid. b 2d paid. c 3 d pa id. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 121 RAILROAD AND MISCELLANEOUS STOCKS. 1909-Contlnued. January STOCKS February March Apra May June July August September OCUJber November December Low Htgh Low Htuh Low Htuh Low Htgh Low Htgh Low Ht(Jh Low Htgh Low Htgl/, Low Ht(Jh Low Ht(Jh Low Hi(Jh Low Ht(Jh ------------1--------------------------------------------- - --Manhattan Elevated----- --- 149 15312 145 14812 142 144 143 14514 14418 14718 14318 147 1445s 146 140141445s 1411214334 14114143 1391214234 137 14012 Mexican Central tr co ctfs dep 2112 2514 1912 2234 20 2334 227s 247s ________________ ---- ---- ------- ---- ---- ---- ---- ---- ---Michigan Centrn1-------- --- ________________________ 150 150 ________________ 150 150 ------- ---- ---- ---- ---- ---- ___ _ Minneapolis & St Lou's---- -- 5414 65 53 5714 52 57 55 6112 56 60 55 5814 5434 5714 53 5614 51 5412 5212 56 51 54i4 5112 5414 Preferred ---------------- 90 90 8912 8912 81 89 84 871 2 851 2 89 87 8912 8612 87 86 88 85 8614 84 87 ---- 8512 8512 Minn St P & S SM--- ---- ___ 13212 14912 136 143 139 1463s 13314 146 135 13838 13634 141 13934 14514 142 1457s 141 14512 135 143 133 13714 1333s 144 Preferred .: --------------- 15134159 147121541 2 1491 2 158- 147 1561:i 1481 2 150 14834 151 151 161 163 16412 162 162 15014 157 1521 2 15414 1537s 15712 Rhrhts ------------ -- ---- ---- ---- ---- ---- ---- ____ 7 85s ___ ____________ _ ---- ---- ---- ---- - --- ---- ---Common subsatp rcts-- --- ________________________________ 130 144 13434 135 135 1387s 140121407s 140 14034 142 142 ___ _ Pref subscrip rcts _________ ________________________________ 149 164 147 147 1473414812 161 161 160 160 ___ _ Leased lines certfs ________ ________________________________________ 9034 9112 89 907s 893s 9134 8912 92 90 91 90 901s 90 94 Missouri Kansa:s & Texas____ 4012 447s 3512 437s 38 43 4112 4414 4114 4438 3914 44 4012 431s 401s 44 401s 4314 40 5012 461s 5012 467s 503g Preferred ------ ---------- 1112 7514 71 75 7234 741 4 73 751 4 72 741 2 7214 7412 7312 741s 737s 757s 7312 7534 74 7814 7314 7512 731s 747s Missouri Pacific _____________ 671g 727s 65 733s 6612 731 4 7134 751 2 731s 76 71 7714 7112 7534 7112 7712 67 733s 6612 7034 6812 7334 6934 725s Morris & Essex _____________ --- - __________ _____ ___ __ 1841218412 185 185 1821218212 __________ _ _ Nashville Chatt & St Louis --_ 12212125 1231212312 125 125 129 135 128 130 135 138 135 135 130 13912 130 135 135 135 135 136 139 142 National RR of of ll\ex, pref Tr Co ctfs deposit_ _____ 4134 4134 38 44 4112 45 ____ ____ ____ ____ ____ ____ ____ ____ ___ _ _ ______________ _ 2d orefTr Co ctfs of dep ____ 2514 2514 2234 2234 ____ ____ ____ ____ ____ ____ ____ ____ ____ __ __ ____ _ ______________ _ National Rys ot Mex . 1st pref ---- ---- ---- ---- ____ ____ 4412 501s 50 5414 511s 537s 5134 55 5112 5312 5334 61 57 59 551s 56 555s 64 2d preferred-------------- ________________________ 231s 255s 233s 2658 23 26 2312 255s 2212 2514 2212 255s 2212 247s 2112 225s 21 251 2 N Y Cent & Hudson River ____ 123 13234 12012 1291s 12212 13Ils 12834 13212 129 13314 1293s 135 13112 1417s 1351R 147 13012 13914 132 1405s 12512 1371s t 221 4 12912 Rights ---------------------- ---- ---- ---- ---- ---- ---- ---- ____ _______________________________ ___ __ 5.6834 612 N Y Chicago & St Louis____ 50 57 50 5412 4812 535s 50 5612 54 56 55 59 55 58 5512 577s 53 5734 55 58 57 69 6434 6834 1st preferred------------ ________ 100 100 __ ______________________________________________________ 1021210212 _______________ _ 2d preferred______________ 84 86 86 87 78 78 7614 78 81 8312 84 85 84 8612 87 88 86 88 87 89 88 95 92 95 NY Lackaw & West-------- - --- ____ ---- ---- ________________________ 125 125 ____ ---- ---- ____________________ ___ _____ ---- __ __ N Y New Haven & Hartford-_ 15712 16334 1571s 1601s 158 163 16212 11012 16914 172 170 17434 1687s 17Il4 16912 1725s 1685s 17412 16112 172 1154 166 15412 1591 2 Rights - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - _ - - - - - - - - - - _- - - - _ - - __ ____ ____ ____ ____ ____ ____ ____ 512 512 5 5. 5514 Subscrip rects 1st paid- --- ---- _____________________________________________________________ _______________________ 1471214934 NY Ontario & Western ______ 45 4914 4214 4812 4312 48 465g 5058 48 501 4 4934 5508 5112 5414 47 5212 46 5078 46 5014 4534 4812 46 50 Norfolk & Western---------- 8414 933s 8434 92 86 91 8912 9418 89 923s 89 9214 8912 95 92 965s 92 961 4 9334 97 91 961s 9112102 Preferred _____ _____ ______ 8534 88 ________ 851g 851s 8514 87 86 8712 8612 88 88 9212 901s 917s 90 9214 90 9012 8912 895s 89 90 Northern Pacific ___________ _ 137 14314 1331414112 1355s 1437s 142 14778 14258 1481 2 1471415434 1501s 15512 15134 159121511 2 159121443.1 15714 1421 2 1491 2 14014 14658 Subscription reefs ________ 138 14234 137 1371 2 ___________________________________________________________________________ _ Pacific Coast CO------------ 80 83 80 80 76 9914 91 9934 9212 98 95 9812 97 9714 96 103 100 110 106 1u14 105 105 107 1161 2 1st preferred------------- ---- ---- ---- ---- 100 100 ________ 100 100 1001410014 985s 985s 1001s 105 105 105 ________ ____ __ ______ ___ _ 2d preferred------------------ ---- ---- ____ 88 100 100 100 100 100 9934 9934 ________ 9934100 10212109 10934 lll 10512109 105 115 Pennsylvania RR----------- 1305g 135 1261s 1327g 128141343g 1331413612 13334 1:;93813458 13'314 16614 140 13778 14378 13858 15114 14434 150 tI29341491 2 1281 2 13718 ~!i~~~ijj-~iits-isti,a1c1==== ==== ::=: ==== :=:: :::: :=:: :::: :::: :::: ---- ---- :::: =::: :::: ==== :::= :::= ::=: ==== ==== --~~ 4 83 __ _ ~ 13 f !34 2 13 Peoria & Eastern----------- ---- ---- 2312 2434 ________________ 24 26 22 27 25 27 261 2 27 231 2 25 241 8 2534 24 26 24 28 Pitts Cine Chic & St Louis--. 8612 93 8712 94 891s 9312 9112 9314 91 921 2 91 93 9214 9312 911 2 9478 90 9434 92r;8 951 2 941 4 961 2 931 2 9978 Preferred-------------- -· 105 10812 104 104 108 llO 110 110 ---- ---- ---- 115 116 ll5 11614 llO 11034 115 ll5 1143411434 Pitts Ft W & Chic, guar _____ 1741.117434 ________ 173121731217312175 ____ 175 175 174 17414 175 175 _______________________ _ Railroad Securities, Ill Cent stock trust certificates ____ 8812 90 90 91 9014 9014 91 92 9134 9312 ________________ 91 91 ________________ 90 90 _______ _ Reading ___________________ 131121443s 118 1343g 1211s 13658 1341s 14812 1435s 15934 1471415838 15334 16258 15518 166 1551 8 17338 158 1701 2 16034 1121 2 15714 1721 2 1st Dreferred------------- 9112 93 90 921s 89 90 89 93 90 93 91 9234 9234 94 9312 96 911 2 931 2 911 2 92 9112 9234 91 92 2d preferred-------------- 9012 9312 90 91 901s 93 92 100 94 10434 97 102 97 10112 98 102 99 103 97 100 96 1011 2 991 2 1111 2 Rock Island Co. ____________ 2312 263g 207s 2538 22 251s 2414 2958 2812 34 29 3412 321g 3934 37 4238 36 401 2 351 2 4138 381 4 411 4 391 2 81 Preferred _______________ _ 5812 637s 5758 6514 6034 653s 64 7134 695s 7278 6612 72 1014 7738 741 2 8038 721 2 781 2 721 2 7934 7634 841 2 841 2 9434 Rome Watertown & Ogdensb 126 126 ---- ---- 125 125 ________________________ 1251412514 ________ 125 125 ___________ _ Rutland, preferred __________ ---28 28 ________________ 3312 3812 38 3812 3712 3712 ________ 30 30 St Joseph & Grand Island--- 20 20 ---19 19 ________ 15 15 ____ ____ ____ _ ___________ 1514 16 16 21 20 21 1st preferred------------ - 51 51 4934 4934 50 51 5312 5312 ___ _____ 50 50 ________ 5134 5134 50 52 53 59 55 6014 2d preferred-------------- 30 30 ---29 29 2914 30 ____ ____ ___ _ ____ ____ __ __ ____ ____ ____ 291 2 30 31 41 40 40 St L & San Fran. 1st pref ____ 67 6812 68 70 6514 6612 69 71 70 7034 68 6858 68 73 72 7214 70 721 4 6934 72 69 711 2 6934 74 2d pr.eferred-------------- 3814 42 36 41 365g 3912 38 4612 441s 4714 4214 4638 4514 563s 5414 571 2 551 8 6034 55 59 54 581 2 56 6034 C & E Ill, new stk tr ctfs__ 6512 67 ---6634 6634 6212 70 68 6834 66 68 65 693 67 67 67 67 6634 68 651 591 C & E Ill pref stk tr ctfs- -- ---- ____ ---- ____ ____ ____ ____ ___ _ __ __ ____ ____ ____ ____ ____4 ____ ____ ____ ____ 116 2 116 2 St Louis Southwestern------ 2112 23Js 20 12 245s 22 2412 23 2514 2414 2814 2534 2812 26 271 4 2558 283s 241 4 3138 2738 31 2834 341 4 3134 3538 Preferred---------------- 4712 5414 50 54 50 58 55 605s 5912 6834 673s 7112 641 4 69 6458 6838 6338 7058 661 2 6978 571 4 7418 741 2 82 Southern vot tr ctfs stpd ext . 25 271s 22 2612 2312 2614 2512 301s 29 321s 2912 3258 301 2 331 2 2934 34 291 2 321 8 2834 321 8 30 3258 301 2 3338 Preferred do do _ ___ 60 6312 60 65 61 6434 6312 70 67(1 713s 6634 7112 681 2 74 691 2 75 68 72 68 711 2 671 2 711 4 68 751 M & 0 stock trust ctfs _____ 82 82 ---- ---- ---- __ __ ---- ____ 82 86 ________________ 86 861 2 ________________ 861 2 861 2 _______ _2 Southern Pacific Co-------- 1163s 12112 1145s 120 116141237s 1181212:s 1183412412 12314135 1311 8 1351 2 125 1391 8 1221 2 13514 12638 13334 127 13018 12734 13814 Preferred ________________ 120 12312 ll83412214 120341255s 1223412534 124 12678 12612 137 13114 13518 __________________________ _____________ _ 12 Rights---------------------- ---- ---- ---- ---- ---84 ---- ---- ---- -- -- ---- ---- ---- ---- ---- -- - - ---- ---- ---- ---- ---- ___ _ Texas & Pacific____________ 333s 367s 30 3734 313s 335s 33 3434 33 3434 335s 3658 321 2 3518 35 401 2 341 2 3914 341 2 37 331 2 361 2 34 3714 Toledo St Louis & Western--_ 47 5314 43 50 4434 5234 51 5434 5012 5312 4612 5278 4718 5134 491 4 541 8 4958 5234 50 5418 53 541 2 52 5418 Preferred---------------- 6812 7414 6434 7034 6734 733g 6834 713s 69 7014 6714 70 68 7014 69 7134 691 2 7258 6734 71 681 2 711 4 6878 7258 Union Pacific ______________ 1755s 1841g 17212181341731218512 1843s 18934 186 19034 1877s 195 193 20134 1941 2 219 19314 21018 197 20934 1991 2 205 19758 !041 2 Preferred---------------95 97 945s 96 94 9514 95 96 96 9812 97 no 1021410634 1021s 11812 1031s 112 1021s 10834 101141047s 10114 105 Vandalia __________ ________ 8434 8712 ________________ 88 88 88 89 8914 891 _______________ _ ____ ____________________ ---· ___ _ 4 Wabash ------------------ 1734 1934 15 193g 17 1834 1734 1912 187s 2178 2014 243s 2018 2178 20 2238 19 21 183s 211 8 l!J38 211 2 2034 2118 Preferred _______________ . 4534 52 41 507s 4214 4834 4534 5014 49 543s 53 6134 5312 58 50 59 46 5318 4614 541 2 5012 57 5434 511 4 Western Maryland---------- 1934 231 2 197s 257s 193s 2238 1934 2312 1812 283s 12 22 312 121 2 334 71 2 41 2 51 2 ___________________ _ Trust Co deposit receipts __ _ ---- ---- ---- -- -- ---____________________ a13 • 1514 b21 2314 c3114 3512 d43 56 Warrants, new stk, 4th paid____ ____ ____ ____ ____ ___________________ 48 55 Wheeling & Lake Erie- ------ 10J4 127s 812 lOJ4 9 10 9 1078 9 127s 10 U3g 5 9 6 113s 8 107s 81s 95s 8 912 8 1034 1st preferred------------- 2112 257s 20 2334 21 23 21 2234 22 2512 22 24 1514 211 2 17 21 15 19 16 19 181 2 181 2 111 2 2318 2d preferred-------------- 12 151s 101s 12 11 12 lll4 lFs 1212 1478 ll 13 612 u1 8 758 121 2 9 12 9 1034 91 8 10 91 2 131 2 Wisconsin Centra'---------- 357s 4514 38 4534 461g 5112 4814 637s 561? 6034 5412 61 55 5714 55 58 53 5518 4718 55 4878 51 48 491 2 Preferr · d _ __ ______ ____ __ _ 6912 847s 81 8712 8534 8914 87 88 905s 9058 _ _ _ _ _ _ _ _ __ _ _ _ __ _ _ _ _ _ _ ______ _ Preferred trustrects------- -- -- ---- ---- ---- 8614 877s 8612 8834 8712 Vl7s 8934 9158 897s 8978 8978 9018 881 2 881 2 __________________ _ _ EXPRESS. Adams American-----------------___ ---- ___________United States-------------Wells, Fargo & Co __________ 190 206 85 300 190 210 85 300 190 205 82 191 210 84 191 205 83 191 205 85 191 209 84 ---- ---- ---- ---- :no 195 220 99 315 225 -- -- 225 ---- ---- 225 22514 22814 235 1993419934 22418 230 95 99 86 325 330 ---- 87 ---- 86 312 865g 89 312 315 90 315 230. 230 90 90 -- -- -- -- 234 ---- 240 244 255 100 107 35614 475 250 270 10012110 450 580 245 245 254 300 103 111 565 670 COAL AND MINING. Prices of minin(J stocks of par t1alue of i25 or less are dollars per share, others p. c. Par. Alice Mining ______________ 5 214 212 2 2 Amal gamated Copper- __ -100 73 8434 65 7734 Anaconda Copper---------25 43 505s 3734 463s Batopilas Mining ________ 20 27s 314 3 314 Colorado Fuel & Iron-----100 3834 4512 29 407s Preferred -------------100 75 75 - --- ____ Columb & Hock Coal & L-100 2434 28 21as 2514 ~omstock Tunnel--------- -2 24c 30c 25c 30c 1st income 4s------------- 16 20 20 205s Consolidation Coal-------100 ---- ____________ Granby Cons Min Sm & P-100 102 lIO 96 10178 HomestakeMiniog _______ 100 87 90 90 9234 Horn Silver--------------25 ---- ____ 70c 70c New Central CoaL _____ ___ 20 4512 4512 ________ Newhouse Mines & Smelt--10 514 6 41g 53s Ontario Silver Mining ____ 100 4 53s 41s 41s Pitts Coal of New Jersey __ 100 117s 13 1014 1214 Preferred -------------100 4512 4712 40 4014 Quicksilver Mining _____ _100 15s 414 2 312 Preferred --------- ---100 4 ____ 614 334 5 Standard Mining. ________ 10 ____ 134 134 Tennessee Copper---------25 3734 49 3434 415s Utah Copper-------------10 41 477s 3913 45 Virginia lrCoal&Coke-- - 100 60 64 57 60 ____ 6612 :S934 3 31 67 24 23c 15 9734 91 90 70c 50 31g 312 __ __ 41 234 3 ____ 3712 40 60 VARIOUS. Allis-Cha'mers ------------- 1414 155s 1234 1514 13 Preferred ---------------- 46 50 38 487s 41 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis t Ex rig hts. ____ 75os 4512 43s 3612 70 4512 28c 16 973 4 98 9212 70c 50 458 4 2 2.70 2s8 234 2 2 2 21 4 2 2 21 4 21 4 2 2 21 4 31 4 2 2 7334 781? 761 4 8578 7712 881 8 79 85 821 2 891 8 77 85 7758 871 8 8358 951 8 851 2 911 8 431s 463s 4512 52 4658 52 46 493s 473s 51 4518 51 451 8 4958 4634 541 4 471 2 5438 334 45g 312 4 358 51 2 458 538 41 2 514 41 4 434 4 41 4 358 378 31 8 334 3514 403s 3812 42 4012 4538 431 8 4734 4134 4838 4134 471 2 431 2 47 47 5238 483.1 53 ________ 75 75 75 75 78 100 99 10012 1001s 104 110 110 110 115 ___ _ 4312 6412 6214 651 2 62 6714 6234 663s 64 731 4 72 81 781 8 81 7878 881 4 86 911 2 21c 27c 25c , 3oc 26c. 30c. 26c . 27c. 26c. 26c. 26c. 30c. 30c. 37c. 29c. 30c. 26c. 3lc_ 17 18 18 24 20 2034 ________________ ________ 20 20 16 16 15 20 ________________________________________________________________ ___ _ 95 9912 98 107 101 10612 99 103 100 106 97 10412 95 100 981210434 102 1101 2 9014 9412 92 93 9112 9134 91 9114 8912 9034 91 913s 88 911 4 7314 861 4 751 4 82 70c 1.60 ________________ 70c _ 70c . 70c. 70c. ____ _ ___ 70c. 70c. _______ _ ________________________________________ 51 53 52 52 ______ __ _______ _ 17s 334 178 412 112 258 158 212 27s 4 ____ _ ___ ______ ___ _____ _ _ 314 45s 31 4 5 312 4 312 312 3 41 4 ____ 2 21 4 238 234 2a8 234 10 ll34 1012 1312 lI 13 ll 143s 1312 2412 19 237s 1734 223s 22 293s 253.1 2938 41 4334 43 491 2 48 50 4778 5134 5134 63 6012 62 60 63 6312 721 ? 651? 87lz 3 81 4 6 858 312 71 8 6 93s 45s 65s 5 51 8 412 51 8 4 43 33 4 5 7 5 10 61s 8 614 9 5 63s 512 812 512 7 6 7 4 538 134 212 ______________ ___ _______________________________ ___ _ ____ 43 412 51? ____ 427s 40 4214 4034 46 443s 4234 4812 47 53 60 6034 61 6134 65 4 8 3712 4212 365s 39 37 411s 351s 383s 3312 3612 3512 4212 38 41 48 53 4634 5212 497g 5412 47 5134 46 50 4914 671 4 571 4 6334 62 66 64 67 65 67 67 757g 69 7312 70 75 71 741 4 1514 147s 1514 151 2 161 2 15 1612 143s 157s 15 167s 145s 15.5s 14 155s 15 161s 1458 1518 4712 46 5138 4958 5258 5012 5434 5058 55 521s 573s 501s 5458 49 5412 521 2 571 2 531 4 5514 Ex dividend and rights. a 1st Ins tallment p aid. b 2d paid. c 3d paid . d 4t h paid. t 122 MISCELLANEOUS STOCKS. 1909-Continued. January STOCKS February March Aprtl 4073 35 3912 36 3812 3634 3938 3718 4038 40 45 43 463s 97 97 99 10014101 1011.4102 3778 341 2 3934 3758 441 2 4134 493s 9234 9034 95 94 9718 95 96 12 10 141 8 1118 1334 11 121 2 7134 7334 711 2 7714 7358 751 2 74 803s 7838 8338 801 2 86 8014 8334 4734 5014 441 4 511 2 4734 5078 4914 511 2 5034 551 2 5438 5g1 2 571s 6712 108 Ill 1011 2 11168 110 11134 Ill 1121 2 113 117 1151 2 1111 2 11714 120 421s 56 4912 5418 5114 5334 52 6018 5858 681 4 66 7634 7212 77 98 100 9918 1031 2 1011 2 1011 2 100 10212 10218 10514 10112 103 10312 10312 ________ ________________________________________________ Preferred ________________ 9512 965s 9634 97 96 98 97 American Beet Suarar ________ 2014 2612 211s 2578 2312 351~ 327s Preferred ________________ 82 8612 861 2 8678 88 93 - 89 1\merican Can______________ 77s 91 2 71 2 9;;8 8 834 s1 8 Preferred ________________ American Car & Foundry____ Preferred---------------- May June Juty August September Ociober November December Htr;h Low Htgh Low Htgh Low High Low High Low High Low High Low High Low Htgh Low Htgh Low Htoh Low Htr;h Low ------------1 American Aarricuitural Chem - 3312 443s 50 103 103 4334 4912 951s 9612 121s 135s 8214 8514 6434 70is 119 123 6912 7712 10212 10234 20 2012 45 49 45 467s 4634 497s 435s 4914 103 103 10112102 10112102 10112 10112 4112 473s 45 4834 437s 4912 4412 481s 9612 977s 9712 98 93 96 93 9412 12 133s 1112 133s 12 151s 13 147s 815s 84 8012 8514 8214 8514 8012 847s 6512 705s 6712 737s 6934 .7612 7012 731 4 118 120 117121193s 119 120 118121201s 7134 767s 73 787s 65 7914 65 6912 10112 1021s 104 107 103 10114 10312 10412 _______________________________ _ American Cotton OiL------Prefe~red.____ __ ____ ___ Amer D1s·tr1ct__Telegraph _____ American Hide&: Leather---- 634 81 8 614 734 634 738 634 738 7 838 734 91 8 734 91 4 Sis 97s Sis 10 712 918 814 914 734 s12 Preferred --------- ------- 36 4258 34 42 37 411 2 381 2 411 4 401 4 431 4 401 2 431 2 3912 46 461s 517s 4612 51 403s 491s 4314 493s 441s 4834 American Ice Securities------ 1873 2434 21 2338 2312 3338 3338 421 4 3858 4158 351 8 41a8 33 4114 3212 40 21 3312 2373 27 241s 2834 24 29 American Linseed __________ Preferred---- ------- ----American Locomotive __ _____ Preferred- --------------American J\\alt Corporation-Preferred---------------American Smelt Sec, pref B- _ 1212 16 29 35 55 1s 5814 11012114 7 734 42 47 80 8358 American Smelt & Refining __ 805s 893s Preferred---------------- 101 10412 American Snuff ____________ Preferred------------ --- American Steel Foundries ____ American Sugar Refining CoPreferred---- --- --------American Tel&: Cable Co ____ American Telep &: Teleg Co-_ American Tobacco (new) pref American Woolen CO-------Preferred-_______________ Assoc Merchants, 1st pref ___ Second preferred---------Bethlehem Steel Corporation_ Preferred---------------Brooklyn Raoid Transit----Brooklyn Union Oas- _______ Brunswick Dock&: C [mpt ___ Bruns Terml & RY Secur --Butterick Co-------------- Central Leather ____________ Preferred---------------Cent&: South AmerTeleg ____ Chicago Union Traction Trust Co ctfs deoosit------ ____ ---________ 36 39 127 134 1291412914 7512 77 12514 12758 9173 94 2734 31 9334 95 ---- ---________ 2212 2614 50 54 67 7214 118 130 13 163s ---- ---237s 30 2934 33 100121023s 105 108 12 1518 131 2 15 141 2 18 151 2 1738 151 2 20 161s 1778 1512 18 15 181 4 1512 171s 15 161 2 1414 1s18 291 2 3518 29 33s8 31 40 36 3934 3912 4734 44 4634 4114 463s 41 4514 3834 4312 3812 433s 3912 475s 49 575s 49 5434 5212 5612 5534 5878 57 621 2 59 653s 5714 6914 57 6112 57 6213 591s 6438 59 63 10914 11234 1107s 11438 114 11 51 4 115 117 115 118 118 1213411512122 114131185s 115 116 114 116 113 116 7 91s 7 Sas 713 s1 4 71 4 1058 9 1112 91s IO 8 10 14 812 97s 7 9 6 812 61s 734 47 533g 4714 64 47 5334 47 5634 51 5812 52 5412 5234 5612 5212 5'.) 4812 5634 38 5012 3814 4234 s21 8 8658 83 8614 8534 87 86 8978 8712 89 88 891s 8834 923s 91 92 9014 9134 8934 92 90 9034 7734 885s 8034 89 86 911s 8934 951 2 8778 971 2 913s 987s 96-34 1047s 94ns 10112 9312 !Olis 953s 10512 961s 105 101 10512 1013410412 1037s 10612 106 11058 109 1141 2 110181141s 11234 11634 1111211414 11014113 109141137s 1101s 11234 ---- ____ 225 235 250 255 ___ ___ __________________ 280 280 ____________ ·--- 2101 2 285 ___ __ __ _ 97 97 95 97 100 100 102 105 103 104 1041210412 ---- ---- 102 102 10012101 100 100 1Tob 10012 347s 3612 35 3814 37 3814 38 4114 42 51 4814 551 4 5512 631 4 5612 621s 5834 643~ 63 6638 5314 66 1263s 133 128 13312 131 136 13 2 1351 4 121 133 12512 13178 129 1343s 128 1363s 1291s 13478 11538 134 116 12434 129 1297s 128 1297s 12912131 127141291 2 120 12678 124 1257s 1253sl273s 125 129 126 127 ll8 125 119 12334 75 78 76 7612 75 76 7734 7734 80 80 ---- ____ 76 80 8312 85 --- - ---- 83 85 7712 80 ll!5 12934 1281s 13258 13073 14234 1381 2 14214 13978 14278 13934 14314 1383s 1433s 13914 1451s 13914 14334 1397s 145 139 1431 2 9012 92 91 9534 95 967s 9612 104 10012 10338 100 10212 101 1027s 10012 10212 99 101 961s 1011 4 95 981 4 26 2934 275s 331s 3212 3512 3312 3738 :s31 8 371 2 331s 36 36 4012 3734 40 - 335s 39 3358 3634 3358 3838 9412 9714 96 10014 99 1015s 101 10614 10212 10734 10234 1043s 10314 1063s 10334 1067s 10214 104 1025s 1031 2 1031 8 10558 106 10612 106 10634 105 106 106 108 108 114 ---- ---- ---- ---- ---- ---- ll2 112 ________ 1121 2 113 1011210412 102 10314 1017s 104 102121021 2 ______________________ _____________ _ 2034 2514 1834 2434 22 25 23 297s 2112 3338 29 3112 3114 3412 32 3614 32 3534 331 4 361 4 331 2 35 47 53 49 54 50 52 52 6Fl4 59 6412 5914 62 62 67 65 691 2 63 683s 67 69 66 6812 677s 7234 70 7614 7412 791s 7714 so1 4 7612 8278 75 797s 78 813s 751s 813s 74 811 4 741 2 79 7734 8258 118 125 125 135 130 13312 13212 1401 2 13758 141 1397s 14314 142 1503s 14712 15112 138 1451 4 1411 2 1461~ 142 1G.Jt 2 1412 1514 13 1414 14 157s 1412 1914 1734 2034 18 19 151g 19 17 207s 171s 211s 17 1814 111 2 18 ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- 177s 1912 27 3312 295g 31 311s 327s 3253 3418 31 34 3014 3014 31 3212 3012 3214 30 341 2 32 37 33 35 2734 32 2512 30 2814 3034 2s12 311 4 291 4 3218 307s 351 2 35 421s 4114 4712 4312 5134 441 2 491 4 4558 491 4 101 1031 2 100 104 993410212 101141041~ 103121051210412108 108 110 108 111· 108141107s 108 10912 10634100 105 108 no 11014 110 110 ________ 115 115 1131211312 114 114 _______ _ 114 114 ________ 115 115 514 7 15 1814 1171s 16514 177s 2012 7312 7634 45 45 ---- --- 56 5714 3512 403s ____ 71 7114 81 84 512 612 533 534 453 512 5 612 412 534 4 5 5 614 1414 1712 145g 161s 1334 16 1414 18 15 16 12 1334 1312 1512 11412 1211 2 12612140 136 13934 13634 1481 2 13734 14518 139 143 141 14912 1612 1978 1734 193s I85s 24 2258 251 2 22 261 2 223s 253s 2234 2512 7314 7678 74 795s 77 85 843s 92 86 9312 865s 891s 881s 8912 46 461 2 ________ 50 5214 50 61 5612 5612 5712 58 ____ ------- --- - ------- ---- ---- 75 76 ---- ---- ---57 6212 56 62 5812 59 5634 59 58 6134 63 68 68 7134 3212 38 34 373s 3512 393s 3734 4112 3314 411.1 375s 39 37 4034 ---- ---- ---- ---- ---- ________ ---- ---- ---60 60 55 70 6934 75 70 9512 80 9014 80 88 8612 90 80 83 80 80 8112 8212 827s 93 8734 9lf>s 873s 8812 8814 94 ____ ____ 45 45 ________________________ 51 51 ---- ---90 90 ____ _ ___________ 9112 9112 ________ 901s 901s 95 95 61 63 65 65 65 65 ________ 71 71 70 75 77 85 90 95 981 2 981 2 1001 2 102 10058 102 1005a 1021 8 1021210312102121051210412105 10634108 15214158 1501s 158 15114158 156 161 15834 16134 159 16412 1621417014 165 17234 393g 4012 39 401 2 391s 43 4312 52 51 53 55 60 5912 64 6212 67 84 84 g31 8 8338 8412 85 86 8618 ________ 89 89 88 8812 86 8612 512 61s 13 147s 14212 14834 22ts 2412 86 89 5912 60 4 512 4 414 31 2 518 1212 13ls IO 11 734 131-1 137 1461 2 1421s 1511 2 1471 2 162 2014 2334 211 8 231 4 211 4 231 2 8314 87 8314 861 2 8358 871 4 ____ ---- 60 62 60 63 ---- ---- --- - ___ _ 6914 7012 64 64 5812 6212 65 67 3614 39 3534 3734 3534 387s 3518 381., 88 88 8712 88 8712 88 ---717s 80 82 88 ___ _ 89 92 8512 90 8614 91 88 891 2 Federal Sugar Refininat--------- ---- ---- ---- ___ _ Preferred ________________ ---- ____ --- - ---- ________ 89 89 General Chemical----------95 95 92 95 93 93 91 93 Preferred---------------1021210314 104 104 104 1061210312 105 General Electric ____________ 1633416912 159121681 4 1591g 16434 15 1611 2 Havana Electric ____________ 71 7812 78 793s 79 85 8412103 Preferred ________________ 90 90 ____ _ ___ 95 100 H 1st 8 Claflin Co ___ __________ ---____________ ---------____ · -----____ ---------------------ll0 preferred _________________ ______ _____________________________ -·-- ____________ ---___________ _ 9212 118 98 1 ln~:rg~~~M:1 -i43s -ii- -iai2 -iii1; -iisa -is1; -i27g _1_7__ -isi2 _1_7_1; -isa4 _1_7_5; -1334 \-634 -14- -l-63s -1334 1514 15 -£O5g -187g -£i1~ ig78 ig~78 Preferred---------------- 40 493s 38 45 3634 453s 39 471 4 44 4714 4412 5238 443s 51 46 5034 445s 49 4714 5158 491 4 5714 541 8 6358 International Harvester- ---- 62 6512 6214 66 6612 7034 6934 8414 8014 837s 8334 8612 8412 8712 8712 897s 88 9712 95 104 1021 2 1121 2 1051 2 11834 Preferred---------------- 10914111 1105s n212 111 11234 1125g 12012 ll912122 1201g 123 121121221s 1201 2 1221211912124 123 12512 122 12612 124 128 lnternat J\\ercan Mar stk tr ctf 8 9 7 834 71s 83s 714 814 75s 814 7 83s 53s 712 614 71g 614 11s 634 75s 7 81 4 7 s Preferred---------------- 2412 275s 21 26 22 25 23 255s 2414 2512 2214 2512 1834 2334 2014 2314 21 2334 22 24 2212 257s 23 251 4 International Paper--------- 1112 1212 IO 12 912 11 IO 1312 12 1414 14 1634 1512 1634 16 1914 1714 19 153s 18 14 163s 1414 151 2 Preferred ----------- ----- 551 8 5634 5014 561s 4734 5212 5134 58 551s 61 6018 6414 63 665s 6434 6934 -647s 687s 61 663s 58 62 5734 621 2 International Power 30 30 ______________________________________ __ ---- ---- ________ ---- ---- ---- ___ __ ___ ___________ _ In tern a tional Steam Pump__ _ 3612 4212 3312 3914 341s 39 371s 4058 387g 4234 3834 4214 385s 4012 3914 4534 451s 5012 461:; 51 4834 5414 493s 53 Preferred ________________ 821 2 8634 821 2 85 8212 8478 8434 87 g414 g91 2 8678 8914 87 90 8514 8914 881s 9134 8734 9034 8812 9012 8814 901 2 Knickerbocker lee, pref _____ 6112 6112 _________ ___ _____ _______ 60 60 ________ 67 67 68 68 ---- ---- ---- ---- ---- ---- 70 70 Laclede Gas (St Louis>----- ----- ---- ---- ____________________________ 104 105 ---- ---- ---- ---- ---- ---- 1041210434 1041211012 10814 11 338 Preferred---------------- ________________________________ 92 92 9712 99 97 97 ---- ---- ---- ---- ---- ---- ---93 96 Mackay Companies--------- 70 76 70 74 72 74 74 7912 7734 8014 79 827s 7912 84 8112 8434 8034 94 9014 94 90 951 2 9012 93 Prefe1Ted ________________ 6912 7112 701g 72 703s 7134 71 74 73 74 /4 751s 7334 743s 741s 75 74 7714 7434 7612 75 771 2 761s 775g .M anhattan Beach CO-------21s 21s ____ ____ ____ ____ ____ ____ ____ ____ 3 514 5 5 ____ ____ 3 3 3 31 4 _______________ _ Metropolitan Street RY------ 34 42 2512 30 21 28 22 27 27 33 25 3034 18 22 22 24 20 20 20 24 23 2712 20 231 2 National Biscuit------------ 96121085s 991210412 10112106 10234107 1041 2 10734 105 10612 10534107 106 108 105 120 113 117 11312 117 1151 4 1181 2 Preferred- _______________ 11812 11934 11958 121 11912 122a4 12212 125 123 126 123 12414 1247s 1267g 12513 127 127 130 125 128 124 1241s 121 125 Nat Enamelinar & Stamping__ 1314 1514 125g 1414 127s 14 1312 1514 1338 1612 153s 1834 15 1634 1614 1914 18 23 195s 2112 2014 23 22 301 4 Preferred ________________ 82 85 82 8214 83 83 83 85 85 87 8814 92 89 89 89 96 9834 9912 96 97 9412 97 9 9912 Nntional Lead CO--- -------- 7534 8112 7114 807s 7414 83 81 9014 86 8912 8214 887s 8512 89 8834 94 8812 92 8512 9012 8612 91 8714 9U34 Preferred ___________ _____ 1055s 10114101121091410612108 1023410734 10478 n11 2 107 10918 108 112 1113411334 110141117s 110 Ill 11014 11 212 10958 111 New York Air Brake------- - 85 92 80 88 83 88 8334 89 85 9014 8612 90 86 9112 8934 97 87 92 85 91 9012 9714 92 12 97 New York Dock---- -------- ________ 30 34 34 35 ________ 4014 4014 39 40 47 47 ______ __ 40 40 ________ 35 35 3512 3512 Preferred ________________ 75 7512 7512 7734 79 80 78 79 7712 78 80 80 7934 80 82 827g 82 82 79 80 8012 81 8034 8034 NY&: NJ Telephone ________ 113 115 11312115 1157s 11114 11912125 122 124 123 137 134 142 139141421 2 ------------Rights-------- ---------214 212 ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ _ ____ __ _____ ___ __ __ _ o rth American Co, new stock 72 8412 78 817s 783g 815s 7912 8412 8134 833s 8034 8712 82 8412 82 87 81 8414 76 82 77 8014 7 12 873s Northern Ohio Tr & Lt ______ ________________________ 2312 24 26 27 2612 27 ________ 30 30 ____________________ __ __ 3512 38 P ac\f!c Mail Steamship ______ 295s 3634 291 8 34 2918 341 4 2914 32 291 4 31 291 8 34 295s 32 3012 337s 315s 3612 35 4114 4012 4812 3:Fs 4512 P ac1f1c Telephone & Teleat- -- _________________________________________________________ ________ _______ 48 6412 4514 5214 4G 4G~s Preferred __ ____________ ___________________ ______________ __ ______ ____ _____ __ ______________________ 98 100 9878 997s 98 98 People ' s Gas Lt &: ______ Coke, ____ Chic 10112 634 11434120 1125s 117 _ Rights ________ ____ 1093 ____4 1071 114s 10912 1 ll5a 1131 ____4 1181 ____2 u31 ____8 1161 ____4 112 ____ 1163s ____ 1141411 ____ ____ ____ ____ 113121171s ___ _ ____ ll4 ____ 1161 2 11212 11612 _ __________ 2 8 2 4 Phelps. Dodge & Co _____________ ___________________________ 175 200 200 200 225 235 ---- ____ ---- ---- ---- ---- ---- ---- 252 252 21 .f:pifW!~sit= = ==== :::: :::: :::: :::: :::: :::: : ::: :::: :::: :::: :::: :::: :::: :::: _v_J~Pressed Steel Car - ---------- 4012 431 4 301 2 4234 341 4 39 37 3938 381 2 4338 411 8 4538 43 485s 4758 56 47 5112 44 517s 50 5512 501s 5!<7s Preferred ________________ 101 1023s 96 103 971 4 98 9g18 IOI 10118 105 102 10412 10414 107 10234 11134 102 108 10414 10712 10434 1087s 104ts 106 Pu!lman~o(The) ___________ l69 172 170 17112169 1721s172 190 185 1911218714190 188 190 18712200 1903419412190 195 190 194 190 19J Railway Steel-Sprinat-------- 46 4834 3912 4714 3212 4314 3834 4012 3912 4458 42 4634 43 4812 47 5412 4734 5112 45 49 487s 531s 50 5212 Pre f~rred ________________ 100 103 977g 101 99 10114 991 2 100 101 107 10412108 1041 2 106 10614 109 10512108 105 109 1045s 108 10612 1cs12 Republic Iron&: Steel-- ----- 24 2612 165s 2434 18 23 22 2458 2438 30 291 4 341 4 31 3712 3534 397s 37 4912 44 485s 4434 4914 45 47 Preferred __ ___ ___________ 8514 8814 671s 86 70 ____ 7434 ______________ 735s 8134 82 971 11014 109 103121091210334108 1071g 104 10714_ 4 963410812 1037s Rubber Goods J\\fg pref_ _________________ _______ __________ ______ __ 104 ________________ 105 109 105 _______________ Sears-Roebuck, oreferred ____ 101 104 106 110 110 1105s ________ 114121151 1141211453 ________________________ 116 121 ______ __ ---- ___ _ 4 ~loss-Sheffield Steel & Iron-- 76 7912 68 811s 7012 741 2 731 4 771 2 7734 8434 130 871 2 8234 8534 825g 881g 8334 9212 89 945s 8612 9212 8612 89 Preferred------- ------ ---10912109731073slll 10914110 1121211212113 115 1153gll7 1161211612 119 119 11812120 119 120 119 120 11 614 118 Sop/:re~~:J~-~~c~-~~-~~r_:::: :::: :::: ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- 1n121~! Te~as Pacific Land Trust---- 82 851s 8012 8012 8434 85 85 891 2 g918 92 8912 90 9014 9378 90 9234 8il4 91 8812 8934 90 91 89 91 Third Ave_nue-- -----------,- 361s 4212 3512 423s 2514 4034 261 2 3514 28 351 2 201 2 3os8 16 22 181s 2434 2113 2412 185s 2234 1812 211 2 1214 19 1:ol~do .Ra1lwars & Li~ht---- 11 153s 1112 137g Ills 13 12 1314 7 1234 83s 10 834 91g 91g 1114 834 912 85s 912 834 834 912 1012 1 wm C,ty Rapid Transit----- 97 10034 99 107 10334 10678 103 1041 2 103 10612 1035g 10634 103 106 1031211014107131111s 107 11112 108 11012 1103s 11614 Preferred---------------- ________________________________ 125 125 _____ ________ ___ 140 140 ________ 140 142 14434145 145 143 Pref Trust Co ctfs deoosit- _ Consolidated Oas-- _________ Corn Products Refining_____ Preferred ________________ Cre,c Carpet ________________ Detroit Edison------------Detroit United RY---- - ----Distillers' Securities Corp ____ E I duPont Powder. oref____ Federal J\\ininar &: Smeltinat-Preferred---------------- ;~it;~;t-~fr;:: ~~/i:3:i'g~l: https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis -52- -53-1~ :::: :::: :::: :::: :::: -~~~ MISCELLANEOUS STOCKS-BOSTON BONDS. 123 1909-Concluded. January February March April May July June August September October November December LQW High Low High Low High Low High Low High Low Hi,gh Low High Low High Low High Low High Low High Low High STOCKS ---- ------- ---- ---- ------Union Bag & Paper _________ 912 1112 914 1114 914 1014 10 1312 1214 1434 14 156. 1212 1412 13 15 13 1412 12 1334 121 2 . 14 12 1314 Preferred ___ -- __ -- _______ 66 6934 67 6912 6714 6814 68 7512 74 7714 76 81 14 75 81 79 7912 75 7812 74 76 74 77 75 7534 United Cigar Mfrs, pref _____ 99 100 1001s 10212 1021210312 1021210434 105 110 105 10712 107 10812 108 110 109 109 10678 10834 10812 1081 2 109 111 'United Dry Goods Cos- __ ___ ----·- - - -- ---- ---- ---- -- - - -- - - - - - 115 11912 1197g 12212 12012 12512 Preferred _-- ______ 11014 111ss 11014 111 1091211134 109 10912 10912 11134 11038 111,8 11014 114 35 -37-- 30 34 3112 3112 3312 39 35 3714 3712 3912 3414 3812 36 3912 39 47 40 4414 40 •United Rys Inv of San 44 41 44 Preferred- _______________ 5212 55 5014 54 5014 52 53 59 5412 5734 55 5712 53 5614 54 59 5912 77 68 76 7012 7434 711s 7418 U S Cast Iron Pipe & Foundry 28 3034 243s 2914 2534 2914 2834 33 31 3514 3234 3512 30 33 3112 3434 311s 3434 31 33s8 3112 3412 3 11 2 3338 Preferred _______________ 74 77 73 751s 70 72 12s8 7614 75 783~ 777s 8714 80 84 84 8712 8312 8634 85 8614 84 8712 8312 8434 :US Leather- __ -- -- -- _______ ---15 15 14 14 ---- ---- -- -- - - -- --- -- - - ----- -- --- - 115 Preferred - _______________ 119 120 117 125 115 128 123 121 128 127 128 118 118 120 120 ------- ---- - --US Realty & Improvement-- 60 7112 64 6814 6612 7414 -12i2 8258 7912 8512 ~018 84 801g 84 821 8 8312 81 87 8014 8412 811g 823g 81 8412 161g 15 ·u Preferred--S Reduction & Refining ___ 1212 133g 10 10 10 10 12 16 11 147g 13 1034 10 1712 14 1614 1114 1234 13 13 _______ ______ 30 32 24 24 26 30 30 30 28 30 29 387s 3412 37 37 3912 32 38 29 3112 30 33 2712 2812 32s8 4034 38 575g 50 31 42 42 35 4212 38 56 4514 541g 49 547g 5434 51 U S Rubber Co------------- 31 3412 27 3212 291s 33 1st oreferred------------- 98 107 100 104 102 10418 10214 1057g 10412112 112 118 11514118 117 12312 11812 12314 11712 12134 115 120 1161g 11812 2d preferred ------------- 69 7334 6712 697g 69 70 6814 72 .7112 7912 79 85 82 8434 84 8912 861s 8914 8334 885g 80 8512 8112 8434 Rights- -- ---- ___________ --- 14 14 511s 551s 4114 5314 4278 4914 4878 55 541s 643g 64 US Steel Corporation------697s -6734 7412 73 14 -7-87s 7534 901g 8512 -9-47s -851-g 931g 8634 926g Preferred - _______________ F~~~== ---- ---- ---- ---- ---- ---- VrginiaaCarolina Chemical- __ Preferred-_ - . - . - - - - - _____ Vulcan Detinninat- - -- - - - _- - Preferred- - - -- -- -- - ______ Western Union Telegraph ____ West'house El & i'ttfg_assent'g ,)st preferred-- ___________ 11214 115 4234 4878 114 115 8 812 45 5134 6658 701 2 861g 79 115 120 107 115 4018 4678 114 115 6 7 48 4834 64 6834 74 8314 118 120 1091211314 1131s 1153g 1151s 12034 12014 1288s 4214 4514 43 4812 4612 515g 503g 5614 11534 118 115 117 116121193s 119 123 614 614 712 8 934 912 20 8 49 49 53 5712 7314 57 ---65 67 66 7112 73 7812 715g 7712 76 8334 8012 85 8212 8512 83 8712 110 115 117 120 120 121 121 123 125 1287g 557g 51 12014 12212 1512 1834 69 6914 7138 7712 84 8614 i21 122 123 1293g 4634 5412 122 1231g 14 1514 6512 6612 72 7634 84 90 12412 130 1235g 13034 4512 493g 120 12134 17 2714 71 78 7214 813g 8412 897g 130 145 12534 131 45 4814 120 12114 2412 3434 7112 85 75 7912 8334 8814 140 145 12214 129 4634 51 121 123 2312 3714 9134 85 76 8.514 81 88 14 13412 140 12314 47 121 2412 75 765g 8012 133 126 563g 128 25 82 793~ 847g 135 PRICES OF STOCKS AND BONDS IN BOSTON, PHILADELPHIAt 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 1909. Actual sales form the basis of the compilations in all cases. BOSTON BONDS IN 1909. BONDS. Januar11 February March Aprtl May June July Augusi September October November Duember f.QW Htgh Low Htgh Low Htgh Low Htgh Low Htgh LQW Htgh Low H1Qh Low Htgh Low Htgh Low Htgh Low Htgh Low H&{Jh ----------- ---- ---- ---- ---- ---- ----- ---- ---- ---- ---- ---- ---Amer Agricul Chemical- ___ _5 9712 98 98 9914 99 100 997s 1001s 100 101 10034 1013g 101 104 102 103 10134 10214 102 103 1017s 10214 10112 1027s Amer Telep & Teleg, 1929- __4 9134 921g 92 9412 9334 94as 941s 9614 95 9512 9412 9512 945g 95 9314 9434 9234 9314 9214 9314 915g 9212 92 93 Convertible, 1936 ____ ___ -4 9214 941s 9212 9534 945s 9814 9734106 102ss 1055s 1035s 1053g 1041410614 103 1063s 1037g 107 104 10714 1041g 1075s 997s 1053s Registered ____________ -4 ________ 9414 9414 ________ 100 100 ________ ---- ---- ---- ---- - --- ---- 1065s 1065s ---- ____ ---- - --- ____ ___ _ American Tobacco. 1944----6 ---- ---- 963s 963s ________________________ ---- ____ ---- - --- --- - ___________________________________ _ American Writing Paper ____ 5 ---- ---- ---- ---- 83 83 ---- ---- ---- ---- ---- ---- ---- - --- ---- - --- --- - --- - ---- ---- - --- ---- -- -- ---Amer Zinc L & S deben _____ 6 tl02tl0414 tlOOlz 117 ________ 105 105 108 108 108 126 115 129 12912130 125 135 140 145 150 155 150 150 Arizona Comm! Cop 1st conv 6 150 150 130 130 165 165 170 185 17712190 ---- ____ ---- ---- 180 185 190 190 ________ 185 185 190 204 Atcb Topeka & Santa FeOeneral, 1995 ___________ -4 100 1003 101 10114 1005g 10034 1005s 1007g 100341007s 100341007s IOllg 101121001210012 100 1005g 1001s 10012 995s 100 9712100 Adjustment, 1995 _______ -4 923g 93 4 ________ 945g 945g ________________ 927g 93 ________________ 941s 941s 94 94 ________ 94 94 Stamped __ __________ -4 ________________ 937s 9412 ________________________ 93 93 ________ 9334 9334 9334 9412 935g 935g _______ _ 10-yearconv, gold, 1917 ___ 5 1071s 1071s 1073g 1073s ________ 1083g 10812 lllls lllls ---- ____ 1165g 1166s 119 12014 ---- ---- _______________________ _ Convertible gold, 1955 ____ 41021210212 ________________ 10834 10834 10034 1097g 1141411414 116 116 ________ 1167s 119 1185s 121ss ________ 119 119 Atl Gulf & WISS Lines----5 ________________ 5912 60 59 67 6458 72 69 721s 7212 7312 70 733s 1012 73 6912 7314 6912 70 69 73 Boston Elevated 1935 ____ _ -4 ---- ____ ___ _____ 101 101 1001410014 ___ _ Boston & Lowell, 1913 ____ -4 ---- ---- 100 100 ___________________ _ 1916 ------------------' ---____ ---- ---- ---Boston & Maine, 1942------4 ____ ____ 1001410014 995s 995g ___________ _ 1923 ----------------- 3½ ------- 9312 9312 ---Burlln~ton & Missouri RivCohsol, 1918- -----------6 ___________ _ ---- 102 102 - --- ---- 102 102 Sinking fund, 1910 ___ :, ___ , 9912 9912 ___ _ Central Leather, 1925 ______ 5 ____ ____ 9714 9714 ________ 99 99 ---- 991s 991s ---- ---- 1001s 1003s ---Central Vermont, lst-------4 81 8214 83 86 82 83 8212 85 85 90 8812 9014 90 9012 8912 8912 89 8912 88 89 87 88 86 8634 Chicago Burl & Quincy____ 1011s 1011s Deben ture, 1915 - - -------5 ------- ---- ---- ---- ---- ---- ---- ---Denver Ext, 1922 __ __ ____ 4 995gl00 ________ 9934 9934 ________________ 9912 9934 ------- 100 100 ---- ---- ------- 8978 _ 8978 8914 8914 ___ _ Illinois Division, 1949 ___ 3½ 92 92 ________ 9112 9112 ________ 913g 913s 911s 911g 901s 901s ---Illinois Division, 1949 _____ 4 1021410214 ________ ---- ---- 102 102 ____ ---- ---- ---- ---- ---- ---B & SW 1921 s f_ _ _ _____ -4 ________ 985s 985s ________________________ ---- ---- ---- ---- ------- 99 99 ---- ---- ---Iowa Division, 1919 _____ -4 ________________________ 1001s 1001s ________________ 995s 995g ____ _ ______________ _ Nebraska Extension, 1927 .4 ---- ____________ 1011210112 ________ 102 102 ---- - --- ---- ---- ------- ---- ---- - --- - --Chic Jct RY & Un Stk Yds--5 102 10234 102 10314 1023g 10314 10218 1025g 102121023410212103 10212103 10214104 1013410212 10112102 10112102 101 10184 Refunding, 1940--------- 4 91 92 93 94 ________ 92 9212 ________ 92 93 92 94 ---- ---- 93 93 93 93 9114 93 _______ _ Chic Mil & St P-Dub Div. , 6 ---- ---- 1181411814 ---- ---- ---- ---- ---- ---- - - -- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- 116 116 Chicago & Nor Mich, 1931---5 101 10112 1021210212 102 102 1013410212 ________________ ---- -- -- 1025s 10234 103 103 --- - --~- ---- - --- _______ _ Chicago R I & Pacific, 1913.5 ---- ---- ---- ---- ---- ---- ____ ---- ---- ____ 921g 921g ---- ---- ---- ---- ------- _______________ _ Chicago & West Michlgan ___ 5 102 10334 104 1047g 10412105 1043g 105 10414106 ________ 106 10614 ---- ____ ____ ____ 10212102121021210312 Cons SS Lines, ctfs for col tr 4 1712 1812 1634 1112 1634 167s ___ _ Cudahy Pkg, 1st gen 1924-- 5 ------- ---- ---- ---Current River lst-- --------5 ---- ---- 96 96 ___________ _ 1 1 1 Det Gr Rap & West, 1946_-4 87 9014 91 911s 9112 9112 ----_-_-_-_ _ 9_: _2 _9_2_ 2_ ~ s ~ o~s - - ==== ==== ~0 ~~ - -- - - -7- -_-_ -__12 97 612 7 97 8 7 2 9612 971 2 Dominion Coal, 1st 1940---5 ------- ---- ---- ---Fitchburg, 1914 ---------4½ ------- ---- ---- ------- ---- ---- ---- ---- ---- ---- ---- ---- 101 101 ---Fremont & Elkhom--------6 ---- ---- ---- ---- 133 133 -~-- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---Oen Elec-Conv deb _______ 51381s1401s 138 1383g 1381213812140 141 14034142 146 1501g 1467gl5214 ---- ---- 1543sl543g 150 153 1493gl50 1471214712 Great Northern-CB & Q, coll4 971 2 981 8 9758 9858 9718 9834 98 99 9814 9834 9712 983s 977g 985s 973s 9814 9614 9712 953s 9712 9514 963s 956g 9714 Re1tlstered _____________ -4 973s 971 2 975g 9778 9814 9814 9718 981 2 983s 9838 975s 975g 977g 981s - - - - - - - - 971g 971s 9614 9634 9534 957s 9534 9634 Illinois Steel-1910--------' 5 10014100121001210012 1001410014 ________________________ ---- ---- 1001410014 10014101 101 101 9934 9934 _______ _ Non-convertible, 1913 _____ 5 1001410034 1001s 1'0012 1001410034 ________ 101 1011 2 10012101 10034101 101 101 10012101 10034101 10034101 1001g 101 lnterb-Metropolitan,1956 4½ ________ 7814 7814 7914 7914 ________________ ---- ---- ---- - --- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---KC Clio & Spring _________ 5 95 9514 9534 9534 ________ 94 95 9534 9614 ---- ---- ---- ---- 96 9614 97 97 9612 96121--- - ---- ---- ---Kan City Ft Scott & G. Ext _510012101 ----. ____________________________ ---- ---- 101 101 ---- ---- 100 100 ---- ---- ---- ---- ---- ---Kan City Ft Scott & Mem--.6 1161411912 119 120 11914120 1193s 120 11912120141191211934 ---- ----1191211912 1191411912 119141191411812119 1173411812 Kan C Mem & Birm-1934--4 90 92 ________ 92 92 93 93 93 93 93 93 93 93 ---- ---- 93 93 93 94 9314 9314 93 9312 Income _________________ 5 861 2 88 89 89 89 89 89 90 8914 891 2 8934 90 91 91 91 91 91 9212 91 92 91 92 91 91 KC & Mem RY & Bdge 1st 51031210312 ________ 10312103341031210334 ________ 104 104 ------- ---- ---- ---- ---- ---- ---- 1031410314 Massachusetts Gas, 1929-4 ½ 9814 9918 9834 9918 9878 9934 9918 99s8 9914 9934 9912 100 995s 100 99 997s 9812 9914 9712 99 9712 9812 98 9812 Mexican Central-1911-----4 ---- ---- ---- ---- 843s 86 ---- ---- ---- ---- ---Trust receipts------------- ---- ---- t83 t83 1s ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---1st incomes, Trust rects--- 243s 243s ---- ---- ________________________ ---- ---- ---- ---- ---- ---- ---- ---- -- - - ---- ___________ _ 2d inc 1939 trust rcts ------ 227s 227s ____________________________________________ ---- ---- ___________________________________ _ New England Cotton Yam. _3 1021s 104 104 10418 104 10412 10334 10434 104 10418 1041s 10412 104 10412 104 10412 10334 10412 10334 10412 104 10412 10312 104¾ New Enitland Telegraph1915 ---------------- ---5 ---- ---- 102 102 ---82 New Rivet (The) 1st conv'34.5 ------- 79 N YCentral, 1997 --------Uf ---- ---- 85 85 ---Lake Shore deben, 1928---' 95 95 ---- _______ _ N Y N H & Hartford- ° &en~!trd~t!:!61955= ==s ~ Sub1erip ctfs full paid for ·09· -9-9·1; ·osis ·0s1; ·01ss ·os1; ==== ____ 1011s 1011s ___ _ conv debentures--------& 1351413514 1347a 13514 134 134 135 13512 1353s 138 138 138 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis t FJai prl ce. 138 13812 13814 138121411214lli ---- ---- 1423414234 ---- j I BOSTON BONDS AND STOCKS. 124 BOSTON BONDS IN 1909-CONCLUDED. BONDS January February March Aprtl May June July August September October November December Loto~~~Loto~~~~~~~~~Loto~~~Loto~~~Loto~ Old Colony, 1925 __________ 4 .... ---Ore& Ry & Nav consol . _____ , ........ Oreg Short Line, 1st 1922 .. 6 ........ lstconsol, 1946- ---------5 ---- ---Ouar refund 1929 _______ -4 ---- ---Seattle Electric lst--------5 .... ---Shannon Copper receipts---&---- ---Torrington, 1st 1918, g ____ 5 ---- ---Union Pacific-1947 _______ 4 1021410238 20-year convertible, 1927.4 ________ United Fruits f 1923-----4½ ---- ---US Coal&. Oil, interim lst--6 120 125 US Rubber 10 year- -------6 --- - .... US Steel Corp, 2d---------5 1021410414 West End, 1914---------4½ ··-- ____ 1912 -------------------' 1001410014 1915--------------------' ---- ---1916 ---- ------1917 -------------------' ___________________ , ---1932------ ------------ - ' ---- ---Western Telep &. Teleg_. _.. 5 9712 9912 Westinghouse El&. Mfg conv5 ---Wisconsin Cent 1st gen _____ , •••••••• ........ ---- .... 101 101 •••••••• ------- ---- ---- ---- ---- -- -- .... ____ ---- ---- ___________ _ ___ _ 987s 9878 ___ _ ---____________________ 1171 8 11718 ___ _ ---_______________ _ ---- ---- ---- ---- 95 95 ____ ____ ____ _ ___ 94 94 106 10614 106 10612 106 106 1057s 10578 104 10414 ___ _ ---- - --- ---- ---- 104 108 108 109 10512108 ________ 106 110 105 110 -- - - ---- ---- ---- ---- ---- 102 102 ________________ 100 100 __ _____ _ ________________ ---- ---- ________________________________ 1021 1021 8 8_ 1071410714 1087s 11012 ____ _ __________ 96 9634 96 9634 96 967s 963s 97 9614 9612 96 961 2 96 963s 96 9614 135 140 140 141 ---- ____ 142 155 ________ 150 152 150 160 155 155 1041410453 1047s 10514 --- - ---- 105141053s ________ 105 10558 10418 10418 10458 1045s 104 10434 105 106 10534106 1057s 1081s 105 1061s ________ 10458 10514 10434 10558 1001410014 1013410134 ___________ _ ------- ---- ---- ------- ---- ---- ---- ---- ---- -- ----- ---- ---- ---- 9934 993.t ---- ---- 9913 9913 ---- ---- 99 99 ---•••• ________ •••• ________________ 991 8 991 8 1001 2 1001 2 ___ _ ---- ---- ---- ---- ---- ---- ---- ---- 101 101 9912 9912 ---977s 9914 987s 9912 987s 10012 9812 10014 981 2 1001 2 98 10014 98 99 98 99 931s 931s 947s 947s ---- ---- ___________________________ _ ________________ ---- _______________________________ _ 1191s 1191s 1187s 1187s ---- ---- ____ ---.... ---- .... ---- 102°s1025s ---- ---- ---- ---- 95 95 ---- ____ 1051410534 106 1061s 106 106 106 106 ---- ---- ---- ---- ---- ------- ---- ---- ---- ---- ---- •••• ---- 1031s 1031s 102531025s 1025s 1025s 104 104 ________ ---- ---- ---- ---- 955s 97 126 133 130 133 134 134 1027s 1033s 1023410234 ---- ---103 1041s 102341031s 1027s 1041s 1021210212 ---- •••• ____ ------- ---- ---- ---- ---- ------- ---- ---- ---- 1001210012 ------- ---- 1001210012 .... ------- 1001310014 100Sal0OS3 ---- ---- ---- ---- ---- ---98 99 14 9712 9812 96 98 ---- ---- ---- . ... ------- ---- •••• ---- 9513 951s BOSTON STOCKS IN 1909. January FebruaT1/ March Aprtl June July Ma11 STOCKS .A'UllUII September October NOTJembt:r December Prtce per share, not per cent. Par Low Hton Low Hf.Qh Low H t gh Low Htuh Low Htoh Low Htgh Lota Htoh LotD Htuh Low Htgh Low Htqh Low Htuh Lou, Htoh ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- Atchison Top&. Santa Fe-100 98 1011a 983410312 1021210734 10553 10934 10714 11012 110 11612 11533 119 11634 12034 117 12414 11914 12513 11834 12414 1203412375 Preferred __ -- . _-- -- ---100 1003410173 1011410214 1011210:!34 1031410334 10312105 10414106 104 10514 10458 1051 4 10334105 1031410512 104 105 10334 10514 lls 133 ---Rights- - - - - - - ----------- -- -Boston &. Albany. _______ 100 225 237 235 237 233 23673 233 23914 229 23414 229 235 228 231 230 23218 230 233 228 233 227 230 227 230 12414130 12512 12934 126 129 128121321s 1263413012 128 13014 128 13012 12712 12914 12712 12914 1281213112 129 131 130 135 Boston Elevated --------100 Rights - - ________________ 3 412 ------ - - --Subscriptions- - __ _$25 paid 34 35 35 3612 35 3734 3734 4012 38 40 36 39 39 a70 a6934 72 7112 7212 72 7412 b99 105 125 125 125 12 5 Subscriptions.- ·· __ full paid 119 119 122 123 121 122 ---- --- 128 12812 ----- - - 133 133 Lowell -_____ _ 100 224 234 231 233 231 235 230 232 227 232 225 228 225 226 225 228 225 228 228 230 228 230 22312 225 Boston & Boston & Maine _________ t00 13212140 13212139 135 144 14212147 144 147 145 150 14612150 145 149 147 15012 149 151 14712 15312 147 14814 Preferred ___________ __ 100 151 152 152 152 157 160 159 159 152 152 --- - - ----- - ---- ---- ---- 126 12513 12512 1253s 128 128 129 126 126 Bost & Northern St, pref--100 ---126 Boston&. Providence-----100 300 301 300 300 29812 301 297 300 298 300 291i2 300-- 29814 300 300 300 295 29814 298 300 295 300 297 298 1134 1612 19 22 15 18 15 1512 16 16 15 16 16 1734 17 18 151 8 15 17 17 14 19 15 Boston Sub Elec Companies-1512 Preferred _____ __ _________ 6012 65 70 75 7014 7412 70 72 7012 72 69 71 7012 72 69 72 7212 73 7612 7712 75 71 77 7612 1312 1334 1412 1412 1112 13 10 12 10 10 13 10 10 12 10 11 10 10 Boston & Worcester Electric. 1012 14 1012 1012 5212 56 5212 5514 53 54 53 5514 4812 53 4612 49 Preferred ---- - ----------- 52 57 54 56 55 57 55 5812 56 58 54 54 Chicago Junction RY-----100 143 147 145 150 150 150 145 150 148 151 151 162 158 159 158 159 157 158 155 159 154 155 153 156 Preferred ___ . __ ______ -100 118 120 11812120 11 6 11934 117 11912 118 120 11812120 120 123 117 121 117 120 116 120 115 118 115 11734 Con&. Mont-Class 4 _____ 100 170 170 170 170 173 173 170 17114 170 171 170 170 ---- -- - - ---- ---- ---- --- - - - - - -- -- - - -- -Conn & Passum, pref _____ too 139 139 139 139 14212 14212 14212 1421 2 139 139 13912 13912 ---- --- - -- - --- ---- --- - - - - - -- - - -- - -- - - - - - Connecticut River ._ - ___ .100 267 267 ---- -- -- 27212 275 274 275 273 273 270 270 ---- - -- - - -- - ---- -- -- ---- 270 270 ----Fitchburg, preferred _____ 100 132 13513 135 Ia6 133 13412 133 13412 130 13312 130 131 129 131 12934133 130 13312 129 132 12812 132 129 13212 40 ---- - --- 50 58 5312 55 5934 65 64 Galveston-Houston Elec--100 ---- ---- - --- ---- --- - ---- - -- 64 63 63 -- --- - --- - 40 Preferred ___ ___ ______ _100 ---- ---- - - - - - --- -- -- --- - -- -- - - -941 2 9412 ---- ---- 93 94 94 95 95 95 93 93 91 93 9212 9414 91 95 97 981 2 981210114 100 103 Oeorgia RY & Electric- .. -100 75 84 82 841 2 76 8112 7934 84 84 86 86 94 85 85 85 88 87 88 8812 86 85 88 88 87 86 875s 8812 8812 Preferred -- --- - -- -----100 79 83 83 85 85 85 84 84 KC Ft S & Mem, pref ____ 100 ------- ---- - --- 76 76 ---- ---------- - --- ---- ---- ---- ---- 195 ---- 195 ---- ---- ---Maine CentraJ ____ _______ 100 19514 19514 ---- ---- ---- --------- ---- - - - ---------Mass Electric Companies-100 1114 1414 13 15 14 15 14 1412 1212 1414 1112 1334 12 1353 12s8 16 1512 1812 1634 19 1534 1812 1512 18 Preferred ---- ________ _100 5812 64 67 62 70 7314 71 73 6912 72 71 70 72 68 75 7514 7434 83 79 8212 7834 84 75 80 Massawippi Valley _______ 100 ---- 130 130 -- -- -- - - ---- - -- - -- -- -- -- --- y N H & Hartford----100 157 164 157 160 158 163 163 171 169 17212 170 1-i4·7; 1681217112 169 172 169 17412 162 172 h153 166 N Rights 15414 15934 - _____ ___________ . ---- ---- ------------- -------- -- ---- ---- ---- ---- 5 67s 5 534 Sub scrip rec ts part paid- - - ---- ---- ---- ---- ------ ---- ---- - - ----- 146 --- - 149 ---- ---- - -- - ---- -- - ---- 14712 14812 Northern N H __________ .100 -147 147 149 146 14612147 ------ - --- - ---- ---- --- ---Northern Texas Electric- -100 ---73 7512 - --- ---- 48 50 46 47 5212 6312 60 67 72 73 ---- ---- ----Preferred _. __ .. ______ -100 - --- - -- - -- -- ---- ---- ---- 93 95 93 93 93 9514 92 95 89 9412 93 9312 9312 941i ------Norwich&. Wore, pref ____ 100 -209 209 200 200 210 215 210 210 210 210 ----Old Colony __________ -- _100 194 2001s 19712 200 19712 200 19812 200 195 1991s 19614 200 197 200 197 200 19814 200 19734 200 h195 19614 190 197 Rights - - - - - - - -- -- . - -- - - - ------- ---- - --- ---- ---- --- - --- - --- - ---- - -- - le. 3c. ---125 125 Old Colony St, pref-------100 ------- --- - ---- ---- ---- ------ - ----Providence & Worcester __ too 260 271 270 272 275 275 275 275 270 270 - -- - ---- ---- -- -- ---- - --- ---- --- Rutland, preferred. ______ 100 27 30 28 28 2634 28 26 30 30 30 28 40 35 38 35 3812 3312 3612 34 37 36 36 30 36 Seattle Electric __________ 100 91 9212 91 9214 9014 91 9014 9112 9114105 105 11312 10414 10414 106 11712 113 115 11312116 116 117 115 117 Preferred _____________ 100 991210112 991210012 98 10012 9712 98 9734100 9912103 10218 105 104 107 10312107 103 105 103 104 10314 104 l:lg 1 Rights - - - - - _- - - -- - - - ____ ---112 114 1.45 ------- 1 Union Pacific. ____ ______ 100 176 18334 1727s 18112 1743s 18512 184331895g 187 l!J05s 18813 195 19333 201 19534 21834 10414 2093s 19714 20913 19734 20473 1977s 20414 Preferred __ -- _____ . __ _100 953s 9614 9412 96 9312 9434 9434 9613 95 9713 965310934 104 105 10338 11114 10738110 10253 10263 10178 10458 1021310413 171 171 172 175 172 172 172 17214 172 172 172 172 172 172 172 172 166 170 165 16814 Vermont & Massachusetts 100 165 165 92 9212 95 9312 98 97 9112 93 94 9512 98 93 9212 95 91 96 9813 91 98 93 9214 95 West End~--------------50 88 93 Preferred _____________ .50 10614 110 109 11012 108 110 10912112 105 109 103 10712 103 106 10412107 106 109 102 107 103 105 104 106 146 146 145 145 145 145 144 145 Wore Nash & Roch------100 ---- ---------- ---- ---- ------- ---- ---- ---- -- -- -- ---- -------- ------------------ ---- ---- --- ---- ---- ---- ---- ------- ---- ---- ---- ---- ---- ---- ---------- ---------------- ---- ---- ------ ---- -- ------------ -- ---- ---- ------- -- ---- ---- ---- ---- ------- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- MISCELLANEOUS. 4678 4612 4934 4312 4953 45 4314 4612 4414 5014 45 49 American A2ricult Chem-100 3314 4034 35 8914 36 3812 3634 3914 38 4012 395s 45 Preferred __________ ---100 94 97 9634100 96 9934 9512 97 96 9912 9814 10112 100 105 102 105 10014105 100 10312 101 103 101 10312' 87g 814 914 912 712 812 8 812 914 8 9 712 834 934 712 9 8 1s 912 8 American Pneum Service.-50 553 684 518 973 8 Preferred ______________ 50 13 1434 13 1912 18 2034 1712 1934 1812 2034 1814 22 21 2014 2214 21 1712 1913 1834 21 19 2212 1912 2214 American Susrar __ .;. ______ 100 1271213334 12613133 128 133 131 136 1321213514 1211213314 126 132 12914 13413 128 136 12914135 114 134 11614 12412 Preferred _______ ----- _100 127 130 1281212934 127 12973 1281 213 1 128 1297s 120 12733 12312126 125 128 125 129 126 128 117 127 117 1221 2Amer Telep &. Teleg ____ .100 1251212734 1251412973 12813 1325g 13073 14212 1381214214 140 143 1393414314 13834 14312 13912 14513 139 14334 140 145 139 14312 American Woolen - ____ . --100 28 3053 2712 30 2712 33 3212 3534 3312 38 3314 3712 3334 36 35 401s 3814 40 3334 38 34 3514 3412 38 _____________ 100 9312 95 94 9712 96 100 9873 10112 1001410614 10134108 1023410412 10314 10612 104 1063~ 102 10414 10234 10334 1023410512 Preferred Rights _____ -- ___________ llc. 21c. 16c. 40c. - --- --- ---- --- - ---- ---- ---------10514 105,14 1041210534 Pref subscrip receipts----- --- ---- ------- 11 1013 ---------- 6 6 412 ---1158 9 11 10 1212 10 1134 10 1112 973 11 812 7 812 8 Atl Oulf &. WISS Lines--100 ---24 31 22 26 28 3012 29 25 27 3112 2812 31 2512 28 16 177s 1512 22 1873 23 Preferred -------------100 -.. 412 414 5 4 334 41s 453 514 5 5 714 714 7 14 714 734 712 734 712 814 --- - ---- - - -- -Boston Land-- -------- ---10 4 12 1 --Boston Water Power------------- - ---- -- -- -- -- ---- - - ----- ---- 70c. 70c. 112 3 Boylston Street Land---------- ---- ---- -- ----- 2 334 --- - - --- ----- . ---Cent Dfst &. Ptg Teleg ____ 100 118 118 ---------- -- -- -- -- - -- - --- ---- - --- - ------ ---- -- -- ---Cumb Telep&. Teleg ____ .100 125 12712 125 127 12534128 128 131 133 138 1331213612 136 14512 14212 145 140 145 140 14714 14518 14712 - -- - - -- Dominion Iron &. Steel- .. 100 1812 2214 20 3812 3134 34 33 34 3334 3612 381s 461s 43 4614 45 4512 4512 5214 52 6014 5834 6934 68 7134 --- -- -- --- - - - - - -- - - ---- ---- ---- ---- -- -- -- -Preferred --- -- - ---- -- -100 68 68 1158 11 12 1234 1012 1212 914 Ills 9 10 13 -iii2 137s 11 7 10 813 933 9 1112 11 12 1 8 East Boston Land---------- 7 84 8478 64 6712 67 78 73 73 80 7714 83 76 Eastern SteamshiP--- ---- 100 Edison Elec lllum-------100 245 252 249 253 252 255 252 260 248 254 24712250 24612254 250 255 252 256 250 253 249 251 249 253 Rights ----- ---- _________ 1.75 2.35 ---- ---- ---- --- - ---- ---- ---- - --- -Oeneral Electric _____ ._ - -100 15212159 1503s 158 151 158 156 161 15773 16112 15914164111 1611217014 165 173 164 169 160 16712 1593s 16414 1581216115 5 5 5 412 ---5 5 5 5 ---- - 4 4 4 4 4 414 4 3 34 334 lntemat Button-Hole-----10 334 4 -- 5 135 135 150 160 Internat Smelting & Refg_too --- -6518 6212 6712 6314 66 6512 6212 6412 64 8334 61 63 655s 65 693s 6914 76 59 62 67 63 74 14 7712 76 Massachusetts Oa&------100 Preferred _____________ 100 89 91 9012 9373 92 9312 93 99 90 93 9013 9134 8912 9158 9034 9153 911s 9412 93 9514 8963 94 90 9314 Mergenthaler Linotype ___ 100 205 210 207 220 20212 20814 204 2071,g 20813 21013 20512 212 209 21014 210 214 21114 21334 212 21512 21514220 209 22014 3 214 314 3 3 234 3 214 . 218 2 212 3 212 3 234 3 214 2 212 2 3 234 3 Mexican Telephone- ___ ._ .10 2 612 612 6 6 614 5 6 6 512 6 5 614 6 534 6 . 65s 57g 6 512 512 534 63s Preferred ___ -----------10 534 6 hEx rights. a $55pald. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ---- ---- ---- ---- ----------------- ---- ---- ------- ---- ---- ----------- ---------- ---- ---- ------- ------- ------- ---- -- ------- ---- ---- ------- ---- ---- ------- ------- --- ---- ---- ---- ---- ---- -- -- -- ---- ---- 125 BOSTON STOCKS. BOSTON STOCKS IN .. 1909--CONCLUDED• -~ ,,,,-., - -- Ja1&va'1/ Feb,va,ru Marcia June April .August September October November Deum STOCKS. Mau J'Ulu Priu per share.not percMtt. Par. Lo1D Hf/JI& Lo1D Htgh Low Htgh Low Htgh Lo1D Htgh Low Htg1& L010 Htgh LotD Htgh L010 Htgh L010 Hfgh Low Htgh LotD Htgh ---- ---- ---- ---- ---- ---------- - --- ---- ---- 102 102 105 110 107 108 110121131 ---- ---- ---------------------------126 -- - - 105 105 ---- ------- 126 -- -- ---- ------ ---- ------- ---- ---1023 9812 9812 97 97 ---- --- - - - -- ---- 9673 967s 11873 ---- ---- ------- ------------------· 120 11873 120 1185s 122 122 1191s --------------- ---- ---- ---- ------94 9512 94 9512 9212 9712 9712 125 11812 12434 11912124 Minn General Electric----100 96 96 Preferred -------------100 - ------ National Carbon-- - - -- -- - 100 ---- ---------Preferred __ ________ __ - 100 ------------72 8473 98 75 7012 H New Enitland Cotton Yam 100 72 73 68 71 68 85 Preferred - ______ - - - - - _100 93 9812 9614 99 98 100 100 102 100 103 105 110 12614131 130 133 132 135 13012135 13112135 131 13312 New Enitland Telephone--100 Riithts -- ________________ 212 3 23s 234 234 3 Pacific Coast Power _____ 100 78 78 75 7812 79 80 7912 8014 8112100 Pullman Company ______ -100 168 17212 169 17112 168 172 171 190 18212192 is6· 190 Reece Button-Hole ________ 10 934 1034 10 1012 10 1012 10 1012 10 1012 1012 1112 Reece Folding ~\achine----10 612 75s --6½ 812 Rotary Ring SpinninJt----- 10 rn 1512 1212 1534 7 1412 7 934 Swift & Company _______ l00 100 10134 100 103 1011s 1031s 10234 10473 1035s 1097s 107 11018 9c. 14c. 5c. Ile. ---Rights-- ---------------22 2112 22 2334 Torrinitton Class A------- 25 22 2312 22 22 2112 2134 2012 22 Preferred ___________ ___ 25 2414 2518 2514 2514 25 2534 2473 25 26 27 25 25 134 112 112 114 134 2 112 lf•a Union Copper, Land & Min-25 1 2 112 2 United ---- 100 12612131 1261212812 1271213634 134 13614 135 138 136 141 RlithtsFruit-------- - - ________________ ---- ---- ---- ---- United Shoe Machine Corp - 25 Preferred - __ - - __ -------25 U S Steel Corporation ____ l00 Preferred ____________ _100 Western Telep. & Teleit--100 Preferred ------------- 100 Wollaston Land- - -- -- --- - _5 ---60 6614 2812 2912 511s 5418 11214 11473 613 8 79 82 6334 66 29 30 4134 5313 107 11412 7 712 77 80 66 2834 3034 43 4914 1093s 11218 7 7 76 78 54 ---- ---- ---- ---- ---- ---- ---- ---- ------- ---5412 5834 5812 6214 54 56 29 30 551 8 49 113 11512 634 1112 7512 87 13s 312 2914 3014 5413 6412 11513 12012 1012 1234 85 8812 2 3 2912 3012 64 6934 12013128 912 12 84 212 88 3 14 9718 106 133 108 135 ---- ---- ---96 105 UH 107 138 107 133 108 139 10712118 134 137 1101s 116 134 135 110 134 ---- ---- ---- ---- ---- - - -- -- -10012 9912 10012 100 108 - - - - 100 18712199 191 195 189 194 ---- 187 190 12 10 12 11 1112 11 1112 11 5 512 6 6 534 6 --- - ---658 734 1558 6 914 9 734 14 1os18 1091s 1091s 11412 109 11112 108 110 19034 1931a 11 12 512 512 10 1414 10814 10914 23 24 24 25 26 2612 2613 2714 134 134 112 134 138 140 13712 15012 29 27 35 158 15g 14412 15212 1414 1478 66 7012 2918 3012 8514 9312 122 12813 1034 1234 92 89 112 212 ---- ---- ---- --243,1 24 25 2334 2434 26 2712 26 28 112 112 ---- ---148 167 h148 165 - - -- 14 15 ---- ---------64 71 665s 66 6034 6238 6212 66 2912 3014 30 3034 3013 3114 30 31 7438 7334 79 68 757s 9014 8512 9473 12453 12833 12333 12953 124 13012 126 131 1012 1134 10 1134 912 1214 1034 12 8712 90 85 90 89 90 88 90 214 212 -- -212 3 112 212 ---- ---- 1121 1381 -- - 100 189 1921 1112 12 534 53 1012 141 108 112 -- - ------ -2812 34 28 30 158 15 147 170 -- -- 6412 701 2 295s 301 2 8634 921 2 12312 12614 12 19 89 96 2 23 MINING. Adventure Consolldated-- - 25 Allouez -----------------25 Amalitamated Copper ____ 100 Amer Zinc, Lead & Smeltin K 25 Anaconda - -- ___ -- ____ -- -25 Arcadian _______________ -25 8 34 7313 2334 45 212 Arizona Commercial- ____ _25 3334 12 Arnold -- ---------------25 1014 38 845s 27 4873 312 38 712 34 65 2312 381a 212 30 34 70c. 91g 45 7758 2734 4514 5 14 3612 1 734 38 6634 23 41 412 321s soc 812 41 7512 2512 42 57s 393.4 1 734 38 7318 2412 4334 373 39 75c. 912 4034 783s 2512 465s 5 4408 90c. 834 3734 7614 2412 46 434 42 75c. 20c. 912 312 50c. 1238 1012 43 7 40 7734 2414 5014 412 39 34 6 401 8 8813 79 3034 28 5Il•s 48 53s 43 38 34 84 1014 4514 7 14 45 85 3112 48 8534 2612 5112 6 44 4614 soc. 34 20c. 11 9 8 10 9 14 458 514 413 3 5s 514 12 12 soc. 50c. 65c. 1638 1318 1614 1714 14 67s 4412 8253 30 487s 712 4812 887s 3234 49 6 49 773s 30 465s 7 6112 8473 331a 50 5 54 7773 33 4634 ---- --- - ---- --- ---- ---- ---4212 4534 4153 4814 42 ---- ---- 70c. 1 ---- 65s 62 871s 37 49 5 58 8373 35 4734 - -----4734 4312 6 5934 9612 3873 5353 6 5534 8512 3434 4934 ---- -- -4518 81 4 5934 911 8 401 2 54 -- - 513 43 30c. soc ---Ash Bed--- ______________ 25 ---------- -131 -Atlantic _____ ___________ 25 1412 18 s18 1212 Sis 1214 814 *1214 11 14 18 13 -1-573 10 1353 1212 11 2 Batopilas- ------ ________ -20 2.9334 33s 3 4 412 412 5 4.3114 434 378 3 334 3 3 1s 3.0614 453 334 434 12 55c. 12 55c. 45c. 55c . 46c. 60c . 45c. 52c. 12 soc. 55c. 65c. 55c. 60c 12 60c. Bonanza (Development Co) 10 1473 1634 14 2214 195a 231 2' 1512 1314 1512 14 Bost Cons C & G trust rec- £1 1358 1713 1114 1412 11 1234 1114 127s 2c. 9c. ---Riithts - - --- ------ ---- ___ ----------- --- - --- - --- - - -- - -- -- -- 2258 1912 221 8 2034 2234 2114 24 Boston & Corbin C & 5 _____ 5 1812 2253 1738 21 2134 20 1712 2034 193s 2212 1934 2214 -i1i2 1914 1713 2014 19 Butte BallaklavaCop ______ 10 10 914 9 105a 8 912 111 - --- ---- - --- ---- - - -- -- -- -- -- ---- ---- -- -- - --- ---- --- - ---- - --- 8 Butte Coalition ___________ 15 ---241 8 271ls 2313 2638 25 2738 213s 2512 221 8 25 2518 24 335g 2 2714 241 8 2812 27 23 2212 2514 2312 28 30 9614106 101 110 100 10712 104 110 102 10612 97 104 100 11012 100 105 Calumet & Arizona _______ 10 98 119 97 10812 987s 105 9612102 Calumet & Hecla---------25 635 680 585 660 610 631 599 625 605 660 650 67712 625 665 660 695 670 690 640 670 660 685 645 690 6c. 6c. - -- 10c. 10c. Catalpa (Silver) __________ lo 4c. 4c Centennial- ______________ 25 ---31 4153 3712 4034 37 35 3834 3812 4412 36 29 3012 29 3514 3012 3312 32 2934 331a 29 3114 2912 34 393 212 212 ---212 212 212 212 212 212 2 2 Central OiL __ -- ------ --- - 25 ---14 16c. 14 15c. 16c Ile. 16c. Ile. 16c 14 22c. Consolidated Mercur Gold- - 1 30c. 35c. 30c. 34c. 26c. 30c. 25c. 35c. 23c. 25c. 10c. 25c. llc. Continental Zinc __________ 25 5 712 712 ---- --5 8114 8514 80 8312 7814 8114 8012 8634 81 Copper Ranite Consolid- _100 7134 8214 6812 7634 73 7734 74 79 ,7634 8214 797s i4i; 79 84 85 5c. 5c. Crescent (Silver) ________ -10 ---- ---- --- - ------- 91 -Daly-West- -- ____________ 20 10 11 1014 8 712 9 912 1014 712 10 8 712 10 912 1134 10 9 712 9 1034 734 Sla 8 2 7013 7013 6412 6712 ---9114 9114 Dominion Coal--------· 100 -- ----- --- - ---- -- -- ---- 8734 8734 -- -Preferred _______ ______ 100 ---110 110 110 110 1121411214 112 118 115 115 9934 9934 --- 115 115 ---141 11 East Butte Copper--------10 758 914 712 145g 14 1573 1314 165s 127s 1418 12 1412 11 1312 11 1312 11 1214 1014 1112 11 13 55c. 1.03 95c. 114 ---Rights------------------ -- -- ---- ---- ---- ---- ------- ---- ---- ---- ---- --138 134 112 z 212 2 2 114 153 214 2 158 21s 158 lf>g 112 2 133 21 112 Ifs 112 134 Elm River - _______ - - - -- - _12 2 16 19 16 1812 16 1734 1534 1712 1613 1712 1512 19 18 1612 16 15 Franklin ____ - - - - - - - - _- - -25 14 1612 13 1612 1314 1534 1434 17 9s8 1214 1014 1178 Giroux Consolidated- ______ 5 - --- -- -- ---- ---- ---- ---- ---- ---- 712 8 12 73s 77s 712 1014 9's 1014 834 10 85s 912 97 102 Granby Consol M S & p __ 100 100 110 90 103 93 100 90 9812 9712105 100 10614 95 10212 99 105 97 105 100 1101 2 98 95 9 11 1134 10 9 1073 97s 1018 10 Greene-Canan ea Copper---20 1038 1234 9 11 934 913 1158 1114 1453 1112 1234 93s 103s 9 12 105s Guanajuato Consolidated ___ 5 233 234 214 234 1.8114 212 ---163 108 ---17s 17s 112 ------- ---- ------- 112 1134 912 1112 814 1114 912 *1218 Illa 2334 1934 38 912 1214 101 8 11 lOts •11 1134 1134 10 Hancock Consolidated-----25 ---612 714 6 14 7 612 712 Helvetia Copper-- - - __ --- -25 ---Oils 7 512 7 -- -- ---- - --- -- -- 6 7 --- ---- ----2412 28 2412 291 2' Isle Royale- _--- __ -------25 24 2612 25 3314 2512 3073 2213 2612 2412 29 251s 29 2312 2712 2634 3034 2312 2934 23 27 212 373 212 4 312 4 312 37s 234 318 312 734 434 234 338 212 35g •4 3 5 Keeweenaw Copper--~----25 45s 418 4 *5 734 93s 753 814 11s 712 8 753 812 8 812 9 8 9 14 812 93s Kerr Lake----------------5 734 91 8 ---- 16 20 1814 3212 3734 3334 3812 36 2614 201s 2712 2613 39 741 4 2133 2034 261s 21 63 54 Lake Copper-------------25 16 2312 16 21 La Salle Copper __________ 25 13 1514 1318 1634 1412 1534 1312 15 16 1412 1612 14 1034 1434 14 16 14 1412 17 14 1514 13 1512 1918 712 91a 514 734 412 63s 573 1212 1212 1814 812 1814 714 93a 713 912 51 8 714 63s Mass Consolidated -------25 514 618 5 614 s:,8 12 70c. 65c. 70c. 70c. 70c. 60c. 65c. 65c. 12 58c. 60c. 65c. 30c. 60c. 45c. 50c. 45c. 65c. Mayflower--- _____ ------- 25 55c. 55c. 34 55c. 1 434 514 412 514 412 5 334 414 434 514 414 514 438 418 5 334 414 312 5 5 6 434 51 Mexico Cons Min & Smelt-10 4 1453 I67s 1514 1612 155s 1714 1534 1678 1473 1638 1613 1858 1712 2 1 1434 16 Miami CopJ)er-------------5 13 153s 1234 1458 13 1434 1414 15 Rights -------------------- - -- -- ---- ---- ---- ---- ---- 40c. 45c. 45c. 721~,c -----Michigan -- _____________ 25 11 13 1218 11 734 *11 1112 77 912 1012 8 1014 1112 10 11 11 934 1314 10 534 1012 6 14 7 Mohawk ______________ - -25 60 7013 59 6512 6012 64 ;i) 62 5712 66 59 62 65 6412 0 6112 64 5912 63 60 60 67 65 68 14 35c. 14 14 20c. 20c. 20c. 20c. 20c. 30c. lie. 15c Montana Consol C & C----10 20c. 35c. 19c. 26c. 20c. 35c. 20c. 40c . 20c. 25c. 2358 251 8 2513 30 1934 2073 2033 2334 2214 2414 2314 243g 2312 251g 2358 25 Z612 273 Nevada Consolidated-------5 18 1958 1612 185g 111s 20 4 413 512 373 414 37s 434 312 512 4 412 5 111 5 New Arcadian Copper-----25 --- 3 134 134 -- -433 512 338 412 112 212 2 334 17s 4 Newhouse Mines & Smelt--10 5 a 6 27g 26g 253 314 4ts 353 314 3 3 4 Temporary rects $1 paid --- ---312 4 -- -- -- -- --- - ------- -- -- -- -- 712 -8 8 712 712 -- -8 -- - - ---New ldria Quicksilver------5 712 8 ---- ---- ------- ---- -- -918 1214 101s 1112 1014 11 Nivissing ~\ines ___________ 5 -- -1012 113s 1014 1073 1012 13 North Butte-------------15 7012 8514 6614 7634 66 7273 5212 7312 56 6812 5412 6338 4714 5912 5513 6134 5512 63111 5612 6214 5834 6912 47 64 117g 412 614 814 9a8 612 812 91 512 734 8 914 9 512 714 612 1014 85g 1014 6 634 1012 8 North Lake------ --- $8 paid 6 1012 1314 14 13 1034 1214 1038 12 812 1012 14 1114 1314 11 6 834 534 1012 834 141 Ojibway -----------------25 ---34 60c. 65c. ---- - --- 60c. 85c. 50c. 90c Old Colony ______________ 25 60c. 60c. 60c. 60c. 60c. 60c. 48c. 60c. 50c. 65c . 40c. 40c. 60c 60c. 60c. Old Dominion ____________ 25 5014 5814 4714 53 5434 52 5334 5712 49 5612 5512 59 4712 5134 5012 5312 5134 5534 5112 5712 51 551 56 51 Osceola - -- ---- -- --- - - -- -25 124 136 122 138 127 13214 1231213112 130 137 134 140 12812 140 138 149 144 153 150 160 156 163 155 170 3414 31 3312 2834 3134 2812 3134 19 30 3614 2973 3314 32 301 3012 3412 3212 36 Parrot (Silver & Copper>--10 2612 301a 26 291a 27 34 12 12 60c. 60c. ---60c. 60c. 1 Phenix Consolidated------25 1 ---- -----------------Quincy ____ - ____________ _25 87 99 ---84 !:14 8912 9212 8512 90 8712 9012 90 85 92 94 8512 90 85 94 86 9013 87 90 83 92 Rhode Island- ________ - - -25 418 514 473 53s ------ -- --------------- -45 45 45 45 45 46 45 46 50 55 57 55 50 55 50 58 55 55 50 50 55 60 St Mary's Mineral Land- _25 2 214 2 2 212 134 2 212 Santa Fe (Gold & Copper) __ lo 214 21s 2 2 212 234 218 234 2 214 23 214 2 214 112 214 Shannon ----------------10 1413 1773 1312 1534 137s 1434 1312 1418 1353 1634 15 17 1414 165s 1514 1518 1512 1714 15 1612 1512 1678 1514 173 Riithts ------------------ ---- ---- ---- ---- --------- --- - - - 10c. 30c. ---Superior __________ ------ _25 34 4014 3534 4514 4112 4614 39 4178 3!:112 42 6012 59 40 3912 5163 5134 6212 57 6614 6014 67 43 6112 56 1518 15 15 14 17 14 163s 1312 1534 1318 16 177 Superior & Boston--------10 ---- ---- 1433 1712 14 1534 1453 1518 1412 1812 1414 18 Rights - - - ________ ------ _ 12 1 ---- --- - ---- --------------Superior & Pitts Copper---10 1438 1118 -ia18 1534 1313 1533 127s 1412 1273 151 8 1334 147g 1473 1812 16 1773 1513 1634 15 1634 1534 18 1512 171 72 7614 65 62 70 68 67 70 62 73 71 72 6234 69 75 77 8612 66 72 90 7934 68 Tamarack -- ___ --------- _25 7612 84 Tennessee _______________ 25 3773 4813 3518 4112 3753 4214 40 411 8 4114 451 8 4038 4134 38 38 25 4013 355s 3733 3312 3614 385s 4114 39 39 1 1214 1373 10 1214 1012 12 11 1334 1213 14 1312 15 914 111 10 2 14 Trinity __ ---------------25 1453 1758 12 163s 13 15 1312 15 912 7 5s 834 8 8 United Copper------ ----- 100 133s 1614 113g 1438 1214 1314 1213 1218 1134 141g 812 1112 9 1018 93s 1012 101s 1034 9 2118 3012 ---2912 2912 ---- ---- ---- ---- ---Preferred -------------100 ---- ------3214 3412 3114 3313 3212 38 3112 3534 3512 3814 3614 3912 36 38 3112 34 U SCoal & OiL-----------25 28 3014 2914 3214 2912 32 31 33 5253 5758 54 59 53 58 5212 5714 53 561 U S Smelt Refin & Minlng -50 41 465s 39 4212 40 4312 3912 4673 4434 507a 4814 505s 4813 54 Preferred -- _ -- _________ 50 44 4612 44 45 4412 46 4412 47 4612 50 49 50 4834 52 51 5312 5112 5312 517s 54 52 53 5212 533 418 413 47s 4 414 5 414 51s 413 5 5 5 6 55s 412 514 ·-- Utah-Apex Mininit---------5 534 634 55s 67s 55s 6 Utah Consolidated---------5 40 4634 3714 42 39 4234 3834 4273 3912 4314 4112 4512 4013 45 44 4812 4314 4634 4178 4418 4334 4934 4412 463 525g 50 54 4812 517s 4614 51 47 50 477s 53 66 4212 4814 47 14 53 3934 4453 4012 44 5773 63 Utah Copper------------ - 10 41 47 418 4 4 434 334 412 3 37s 314 4 412 5 5 512 414 5 312 6 5 Victoria -- --------------25 358 473 412 53a 4 Winona ________________ .,25 5 614 5 614 734 434 512 5 633 5 *612 612 5 534 65s 57s 534 914 512 614 534 *838 8 *131 144 152 158 147 _ 15518 152 154 145 158 150 148 145 152 140 140 149 143 1501 142 152 145 150 150 145 Wolverine - -- ----- ------ - 25 214 212 2 2 314 273 214 3 Wyandotte - _____ --- _- - - _25 23s 4 212 313 212 3 3a 234 334 212 31 8 212 3 212 3 214 218 11,ExrfghtB *Assessm ent pa.Id. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ---- 60c. 60c. -- ---- ---- ---- ---- ---- -- ---- --- ---- ---- ---- ---- ------ ---- ------- ---- -- ---- ---- ---- ---- ---- ~ -- -- ---- -- ------- ---- --- ---- ---- ---- ---- ---- ------- ---- ---- ---- ---- --- -- ---- ---- ---- -- -- ---- ---- ---- ---- ---- ---- --- ---- 126 PHILADELPHIA BONDS. PHILADELPHIA BONDS IN 1909. BONDS Jtm'UM1/ Pdmla111 Marr,/& AprU Mau Jun, JuJ11 A1'UWI September October N()l)embff December ~~~~~~~~~~~~~~~~~~~~~~~~ ------------·1---- ---- ---- ---- ---- ---- ----- ---- ---- ---- ---- ---IUILROAD & MISCELLAN. Alleir Vall, E ext, 1910 _____ 7 ---- ---- tl0212 t31s ---- ---- ---- ---- 1027s 1027s ---- ---- ---- ________ ·--- ---· ---· ··-· ·--- 10018 10018 10058 1oos8 General, 19-i2 ... --····-··' --·- -·-· -··· ···- --·- ·--- · ··- --·· -··- .... -·-· . ··-- ··-· -·-- ---· ··-- ---· ____ 101 101 ____ ---· Altoona & Logan Vall El - 4 ½ ---· •·-American Oas & Electric •• -5 7912 82 American Rys, Con •--·---5 •-·- -·-· Coll trust 1917-·· ·····-· -5 9612 9712 Atlantic City Elec & Ref lst-5 ·-·· ---Belvedere Del cons- ••••••• -4 101 101 Bergner & Enitel. lst--·--·6 9914 9914 Bethlehem Steel •• .:.-···--··611812119 -·-· ---- - - -· ---- -·-- --·· -·-- ---- ---- ··-· ·--· ---- ---· ____ 941 2 941 2 921 2 921 2 ________ 92 92 •79 t8134 8114 8934 8714 8912 8712 88 87 88 877s 8978 8734 8834 8738 88 8714 8834 8114 88 8634 811 2 •---··- -·-· -·-- ____________ ---· 981 2 99 98 98 -·-· -··· 95 95 9612 9612 96 96 -·-·--- ________ 961 2 9634 96 9614 96 96 -·-- -·----· ·-·- 98 98 ··-- ··-- --·· ---- --·--·- 106 106 -·-- ____ 105 105 -·-· ···- ____ ---· -·-- ____ ·--· ·--- ·--· ____ ---· -··- -·-________ -·-- ______ __ -·-- ---· 9834 9914 -·-· ____ -·-· -·-- ____ ·--- --·- --·- ---· ____ ·--- ____ ___ _ --·· ··-- 118 118 1181411814 1151211814 118 118 118 118 ____ -·-- ---· -·-- 117 11714 1161 2 117 1151 2 1151 2 1st ext 1926-··-· ···--···5 --·· ·--- -·-· ---- ---- ··-- ---· ---· --- - ·--- 90 90 ---· ____ ·--- ____________ ·--- ---· ________ --·- ___ _ Choctaw & Memphis- ...... 5 ---- ----t112121212 112 112 112 112 1131211312 · --· ·--- -·-· ________________ ·--" 112 11218 ____ - --· -- ·- •••• Choctaw Okla & Gulf Oen .. 5 10334 10334 - - - • • - - - 105 106 10538 106 10512 106 10512 10512 10512 106 10412 1051 2 1051 2 106 10514 1051 2 105 10514 1041 2 1041 2 Consol, 1952 - ··-·········51081210812112 112 ·-·· ·--- 1111211112 1115311153 -- ·· ••.• ---· ·--- ---· --·- ____ -·-- ____ --·- ---· ____ 111 111 Citizens' Passenger, lnds- .. 5 ---· ·--- -··· .... 106 106 •••• -··· ··- · •••• 1061410614 ____ --·- -·-· ··-- --·- -··· 1051 2 1051 2 ____ ---· .. .• ·--· Consol Traction of N J .•••• 51041210634 tl0534 06 12 1055s 10614 10514107 1061210634 106 10612 10512106 10534 1061 2 10534 106 10514 106 105 10512 1041 2 105 21 0 51 ~:s1~:s&e }!iabi1.n.!.s!:::::~ :::: :::: :::: - -•: 1081410814 --·· ·--- --·· -·-· -- · - ·-·· Edison Elec Lt stk trcerts .• 5107 10814t106l208381061210714107141071410714108 --·· ••• • 108 108 -·-- ···- 108 108 108 108 ____ •••• 108 108 El ~ Peo Tr~c.-Trust rects-4 93 14 9434 t9233 9434 93 9334 93 9412 9312 95 93 94 93 9312 9112 931 4 9234 931 4 92 901 2 911 2 90 93 9034 Elmira & Williamsport lst .• 6 ---- -··- .••• ---· --·- ---· -·-· •••• -·-· ·--- - ··· ··-- ____ ·-·· --·· ---· ____ ---· ·-·· ·-·· -·· · ____ 101 10138 Equit Jllum Oas•Lt, lst •• • • 5 107 . 107 tl06 38 07 1061210612 10634107 10612 107 107 107 10612 107 10634 10678 10634 10634 1051 2 106 10534 10534 1051 2 106 Fairmont & Clarks Trac 1sL5 ••.• ··-- ---·--- • • .• ··-- ---· --·· --·· ---- 95 95 9512 951 2 ---· •••• ··-· ---· ---· Ft Wayne & WV Trac- •••• 5 8714 8712 -··· ·--· -·-- ·--- 85 8814 88 8814 •••• ____ 83 8314 ··-· Holms Tacony & Frank ···-5 ... -·-· .... --- - 87 87 -- ·· ·-·· ··-· -·-· ··-· Hunt & Broad Top, cons ••• -5 --- -·-- 100 100 ---· •••• 100 100 ___ _ 1st 1920 .•....••. ....•.• 4 •··· ·--- ---· --·· - - ----· -··· ·--- 95 95 ··-Indianapolis St, generaL •• -4 ·-·· 86 86 -·-- ---- 86 8614 · ·-8514 851 4 ____ ··-· 831 2 831 2 Inter State Rys, 1943 ... .. -4 39 41 3812 t44 4112 49 4734 5434 48 5112 5012 5114 4812 5014 49 5514 55 56 56 5734 ---· -··· 571 4 571 2 Trust Co certificates .••••• -··· ·--- ··-· ···- 4234 4412 4912 5412 49 5112 4934 51 5012 52 5214 5214 - - ·· 5514 5734 ---· ••.••••• ·-·· Keystone Telephone lst •••• 5 -·-· --·· •••••••• 8712 875s 87 91 8912 91 91 9212 9214 9212 90 91 90 90 89 89 89 89 8634 881 8 Lake Superior Coro, lnc .... 5 46 49 48 5514 4734 4912 47 5634 49 5512 49 5214 49 53 4912 53 48 5034 491 4 51 50 5114 50 52 Lehigh Valley, cons ...... 4½ -·-· ···- t105 tl05 -·-· ·---· .••• -··· •••• --·- · --- ·-·- 1051410512 - - -· Registered . ......... -4½ 1061410614 1061410614 106 10633 •••• ·--· 106 106 - --- ·-·- ____ -·-- ____ ·-·- ···- -·--1051 2 1061 2 ·-·- ·--· 1st ext 1948 ...... ...... 4 ·-·· -··· 1051210512 - ··· ---- -·-- --·- -- · - ---- - - -- -·-- ··-- -·-· - -···-· --·· ·- -- ·--· ·--- 106 106 2d registered, 1910 ....... 7 1063410634 tl043s 0712 1041s 10412 104 1410412 1033410334 1035s 10334 10313 10318 -·-- -·-- 1021 2 1021 2 102 102 101s8 101a4 10112 10158 Cons M, 1923, registered .. 6 120 12114 • ••• -·-- 1205s 12053 1205s 12114 12114121141201212012 120 121 ____ ••.. 1201 2 1201 2 --·- ---· 120 120 do coupon .... . . 6 1201412014 •••• ··-- ---· ---- --·· - --- -··- ---- - - -- ·- - - --·· ____ ---· ____ ·--- ·-- - 121 121 ···- ____ 119 119 Annuity ................ 6 ................ 148 1483s 14814148121481214812 149 149 149 149 1493314938 150 150 148 150 -·-- ____ ·-·- -·-· Annuity ........ . ..... 4½ -··· ··-- -·-· --·- -·-- --- · 1141411414 ---· •..• 1141411414 ·--- ···- ---· ••.• ---· ·---11212 11212 --·· ·---1121 2 1121 2 General con sol 2003 ...... 4 9814 9812 t9714 9812 9714 9712 9714 9734 9714 975a 973s 9734 9714 9712 97 9714 9678 9718 9714 97114 9658 9738 9614 9634 Registered ..••...•.•• -4 9712 98 ··-· -·-- ---· -··- 97 9714 97 97 -- -· ·- -- • ••• ·--- - -·- ---· ____________ --·- ____ ·--- ·--- •••• Lehhth Valley Coal, lst ..... 5 109 109 110 11014 110 11012 11014 11114 1105s ll 1 ··- - 110 110 110 110 109 10914 109 10938 109 1091 2 1081 2 109 Registered ....... ...... . 5 -··· -·-- 109 109 110 110 ------ - 1071210712 ___ _ --·- ___ ___ __ ·--- ____ -·-- --·- 108 108 Lehigh Valley Ry,lst. .. -4½ -·-·---1073410734 - --- -- - - --·- ·--- --· ---- 10112 10112 ---· •••• 107 107 ---· Lehigh Valley Trans 1st.---'-··---- 8312 83 12 -··- ··-- - -·· --- _____ ___ ---· -·-- ·--- ---· 84 84 ___ _ 1st series B 1935 ----····5 --·---- 1001210012 -·-- ·--- - --98 9912 ---- -·-- ---· ____ -·-- ____ -·-· Consol Series C, 1935 ... -4 60 605s 60 60 60 6612 6512 67 66 661 4 6614 69 68 68 6812 6812 681 2 681 2 ---· ____ -·-· Market St El Pass lst- •••• -4 -··- ···- ··-·--- 9758 97 78 97 34 98 14 - -· · ·--- ·--- ·--- ____ -·-- 9673 967s - --· -·-· ___ _ Maryland SteeL-···---·-··5 -··· ···- --·· ···- - --· ·--· -·-· ---- -··- ·--- ---· ____ 1011210112 ___ _ Newark Consol Oas--·-····5 106 106 -·-· ·--· ---· ____ 106 106 ---· ____________ -··Newark Passenger ••••••••• 5 108 108 108731087s 1083410912 ---· •••• - ·-· ____ 1081410814 ---· NY Phila & Nori, lst ••• -.-4 9912 99121001210012 •••• ···- 9912 9912 - ·-· ____ 1001210012 --·Norf & Portsmouth Trac lst.5 -···-·· 8534 88 88 8814 88 8912 -·-· 83 - --- 83 North Cent, cons, 1925 •• -4 ½ .••• ··-- 1073410784 ---2d gen, Series A, 1926 •••• 5 -····-- -··· ·---1131311318 --·· 2d gen, Series B, 1926·-·-5 ··-· ··-- -·-· · -· - - -- -· •••••••••••• 110 110 •North Pennsylvania, lst •••• 4 ····--- 104 104 -··- -·-- --···-· 104 104 ---· ---· General, 1953 ··-··-·-··3•3 •••• ·--- 89 89 ____ -·-- --·· ·-·· ____ ---· Pa & NY Canal-Cons,1939 . 5 •••• -·--1161211612 --- - ---- -- -· •••• ---· ·--· 116 116 Consol, 1939-·-··-·····4½ ·-·· ...·_ 110 110 ··-· •••• -·-- -·-- 1081410814 --·· -·-· •••• --·· Consol, 1939-····-- --· ··4 ---· ---- ---· ·--- ---- ---- -·-- ---- ··----- ---- ---- --·- ____ 1001210012 ---· ____ - --· --·· - Pennsylvania-Oen - 1910 ---6 1027sl027s ·--·- ·-·· 10212102121021210212 -··- ____ 10214 10214 ________ 1013410134 101¾ 104 -··· -·-- 101 10114 ____ ---· do registered .... 6 .... ··-- ·--- ........ -·--1021210212 -·-- -·--10214 102-33 --·· ____ 1013410173 ____ ____ ____ _ ___ 10018 10018 Consol couoon 1919 .. - .. 5 -··- ............ 1091210912 10912 10912 1091210912 1101211012 ________ •••• ________ -·-- ··-· do registered, 1919- ... 5 -··· ·-·- --·· ·--- - --- ---- 100 109 1091210912 ---· ··-- ---- _______ _ Equipment trust 1914 ... -4 -··- ··-- --·· -·-- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---· -·-- 9914 9914 -·-- ·--- __ ___ _____ __ Cons, 1948-·---·······-· 4 1047s105 1043810412 -·-- _••• 105 105 -·-· •••• 1041210513 1031210414 1041410453 ____ - ··- 10318 104 10414 1041~ ___ _ Convertible, 1912 ....... 3½ -··· ·-·· -··- .... ---- ---· ---· ---- 10114 10114 --·· -·-· ---· -·-- -·-· ----105731057a ---· ____________ ___ _ Convertible, 1915-···-··3½ 9533 961s -··- ·--- 9512 9512 9614 9614 9714 9714 -- ·- ···- ---- ____ 9873 9873 9734 987s 99 99 9576 9518 ____ ---· P W & B trust certs, 1921-4 9912 100 !995310038 995s 10014 10014 10012 100 10014 10014 10012 9912 100 9912 100 100 100 100 10014 9914 9934 991 2 10014 Pennsylvania Co, 1916- .. 3 ½ ·-·· .... --·- ·--- 975s 975s 9712 9712 •••• -·-· --·· · -- - ---· ••.• -·-· ---- ---- ·--- 98 98 9734 9734 971 2 971 2 1941 - ··-··-·-···-·····3 ½ -·-- ··-· .••• -··· ---- ---· 9034 9034 -·-- •••• ---· ••.• ---- --·- ---- ··-- ---- ---- •••• ---- ---- ---- - - - - ---1921 -·------··----··- 4 ½ ---· - -·- - --- ---- ---· ---- ---- ···-- ---· ··-- ---· ---- 105 10514 ---· ·--- ---- --·- --·- ---- ---- ---- 104 104 Penn & Maryland Steel- .... 6 111 112 tll0 112 1091s no ---- - --- -·-· -··- 1081410814 110 110 ---- ---- 110 110 110141101410978 10978 1101 2 1101 2 People's Passenger-St tr cts 4 9634 9634 9634 9714 9714 9714 9734 98 98 98 97 14 9714 - _ __ ___ _ 9714 98 9712 98 98 98 9634 971 2 9634 9518 .Perkiomen 1st series - -·····5 -·-· .... ---· ----1071210712 ---· --·- ________ --·- ·--- ---· ____ -·-· ________ -·-- -·-· ··-- ---· •••• _______ _ Pbila Bait & Wash, lst ... --4 ---· -·-· 1041210412 1043410434 ---- ---- 100 100 -- -· ---- ---- ---- ---- --- - 1033410334 ---· -·-- ________ 1031 2 1031 2 Phi!adelohia Co, lst ... - .. -5106 10614 tl04 t04 10312104 10214104 1011210312103 104 104 105 1051210534105 105 105 105 1041 2 105 1041 2 104a4 Consol & collateral trust .. 5 98 99 t97 99 98 99 977s 9812 97 98 96 9714 9673 97 97 9914 98 9812 98 9814 961 2 9734 97 99 ' ~ Phil!l Electric-Trust certs .. 5 10112 10212 tl0ll2 0312 10112 10234 10134 10212 1017s 10212 10112 10214 102 103 10214 103 10233 10334 10212 10334 10114 103 10034 1011 2 Trusl ,certificates--·-··-·-' 74 75 t7312 75 74 75 74 7473 7412 7612 753.i 7612 7512 7714 76 78 76 7634 75 77 7434 7514 74 76 P--lliladelphia & Erie, 1920.--5 ---· .... -·-· ··-- ---· ·--- ---· ·--- 109 109 --·- ---- 109 110 ----·-- 109 109 ___ ____ _ General 1920.----·--··--' ---· ·--- .... . ... --·- __ __ 1001210012 Phila Rapid Transit ..... - .. 5 ---· -·-- -·-· .... 102341027a 10234103 1023410234 ··-•••• 1011410114 --·· -··· ==== ~~~~ ==== ==== :::: ==== == == :::: ::=: ::=: :::: ____ Philaclelphia & Readin&Consol, 1told.-····-···-· - 61041210412 -··· Registered ---·-···-··- 6 ____ ____ __ __ Imp M, ext. 1947 ....... -4 ---· -·--1031310318 102 102 •... 1031210312 ---· ···- --·· --·· -·-- -·-· -·-- -··· ··-- 102 102 102 102 •••• Consol, ext. 1937 •••••••• -4 ---· -·-- --·· .••• 102 102 ---· -·-- ---- ··-- --· - -··- ---Consol coupon, 1911· -··- 7107 10714107121011 2 1061410614 1063a 10612 1061s 1061s 1051210512 -·-- ---· 105131051s Consol, reitistered, 1911- •• 7107131071s •••• ____ -··· -·-· -·-- -· - - 1053410534 105121057s 105131051210513105:g Readinit Terminal·---··--5 -··· ·--- 12012 t2012 -·-- •••• 1201212012 •••• -·-- 120 120 11934120 120 120 Phila Wil &. Bait, deb, 1932-4 -··· ·--- -··· ···- .... ···-1001210012 •••• ··-- - ··· -··· -·-- ---· ---· ---Portland (Ore) 1st 1930- ·-·-5 ---- ---- --·· --·· ---· -··- ---- ---- -·-· --·- ---- ---- -- -· ---- --- - ---· Readinit, 1997-- _ •• __ _ ···--' 9973 1003s t9953 101 9958 10014 9973 10013 997s 100 99:i4 1003a 10014 101 100 101 Jersey Central collat._ •• _,& 98 9814 t9614 98 96 97 9634 9753 9712 9734 9712 9734 9734 9813 98 9813 Reading Traction lsL ••••• 6 -·-- ---- tl24 t24 -··· ·-·- -·-- ____ •••• ···- .••• -·-- ---· ________ -··Rochester Ry & Light-- --·- 5 9912 9912 •••• ··-- -·-· -··· 9812 9812 99 99 9814 9834 9814 9912 9934 997s Schuyl R East S. 1st 1925-4 --·· ·--- -·-· ·-·- .... ·-·-1011210112 --·- -·-- 102 102 1011210112 ---- -·-Second Ave (Pitts) 1934.- •• 5 - --· ·--- •••••••• -··· ··-- -·-- ____________ 106 106 105 106 ---· ··-Spanish•American Iron, lst-6 10012 10212 t10112 021 2 101 10134 10134 10212 10212 10212 1023s 10212 1023s 10212 10312 10414 Steubenv & Ind 1st- - •••••• 5 LOO 100 •••• ---- ---· ---- -·-· ·--- -·-· Sunb Hazle&. W, 1928••• __ 5 -··· ···- ··-·--· --·· ··-· ---· ·--- -··· 2d 1938-·---··-·······-- 6 --·- ____ -·-· ·-·· 125 125 •••• ··-· 125 125 ____ ---· ____ Susquehanna Coal ••••••••• 6 -·-· ··-- •••• ··-- --·· -·-· 1021410214 ---· Union Trac (Ind) 1919 ..••• 5 -·-- ---- -·-· ---· ---- ··-- ---United Rys, &old tr ctf, '49.4 7412 75 t75 7512 75 7912 78 7934 79 7934 7812 79 7712 78 77 7912 United Rys Inv of San Fran1st coll trust, 1926 ... _.. . 5 8112 85 US Steel Corp, 2d, 1963 .. -.51037310373 United Trac. Pittsburirh .... 5 106 106 Washington Termioal .... 3½ --·· .... Welsbach-Coll trust.·---·5 75 7612 West N V & Pa, lst·-·· · ---5 11434115 Oeneral--·······---··---' 9514 96¾ Income 1943-··--····-·· 5 ·-·· Western Pennsylvania 1928.4 .... W Jersey & S S-Cons 1936.4 ---lstconsol, 1938- ...... -3½ --·· Wilkes Barre Oas & Elec- •. 5 --·- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis t 8012 83 8034 8134 82 8312 8012 8312 7978 8212 ---· ··-- 1031s 10318 1033410334 1041s 1Q413105131055s 1061210612 -·-· •••• 108 108 -- -· -· ·- ---· ·---··- ---· -··- ·--- --·--- -- ---· ---- 9173 917s · 7714 7934 78 80ts 7912 81 81 8212 8212 8312 tl1512 1155s 11534 - ·----t9512 97 9414 96 80 9312 8712 8712 86 87 .... ---- -··- .... -·-· ·--· ____ ···- ·--- 102 102 ··-· ____ 100 100 ·-·· ·--· 81 -·-· -·--·-8514 -- -· 86 82 ··-•••• ---8512 ---9112 •••• -·-· ··-- 1021210212 ···- --·· ··-- 1021210212 ·-·· 1011210112 10112 102 ____ -·-10473 10473 ---· -----·- ---100 100 9934 1001s 9712 9813 ·--- •••• 9934 9973 ---- ··-1031210614 10212 10334 93 79 ···•••••••• ·--· ---· ---99 100 9712 98 --·· ··-•••• ·-----· ---1051410514 103 104 ---··--··---93 ---· ·-·· 7934 7712 78 104 ·--- 1033s 1033s 104 ___ _ •••• ____ 1181411814 9834 991 4 99 100 9612 9712 96 961 2 -·-· ··-- ·--- ···9934 9934 9918 9918 -·-· ---· 101 101 -·-- ________ -··· 10118 1021 2 J 021,:1. 103 ---· ---· 1031s 10313 100 10012 ___ _ ---· ____ •••• ··-· -·-- ---· ---· ·--- ---· 7712 7814 78 79 81 107 -··· -·-· 8512 ---· 90 8673 8512 8712 84 86 8412 8514 8412 8612 107 -·-- 1051410553 105 105 ··-· ··-- --·· ........ --·· -··· ·--· ·-·· ---· .... -·-· .... 101 101 •••• -··- ---- ---· 1934 1934 -· -· ---· 86 86 8612 8534 8614 86 9212 -·-· ·--- 9034 92 ··-1011410114 -··· -·-- -·-- •••• •••• -··-··· .... ···- ........ --·- .... ··-- 95 95 -··· •••• 9812 9812 99 101 101 10114 •••• --·- 1011410214 •••• ·--· • Ex•lnterea t. 87 8934 90 t 8614 8712 90 9014 •••••••• 100 100 -··- •••••••••••• -·-· ·--- -·-- -·-· 102 102 . 102 102 And Int.ere s,. 127 PHILADELPHIA BONDS AND STOCKS. PHILADELPHIA BONDS IN 1909-CONCLUDED. I October I Nooember December -------------1---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---BONDS. Janua:ru Fwruaru I March AprU Mau June JuJu A1111W1 September Lou, Htg11 Lou, Htgh Lou, Htgh Lou, Htgh Lou, HID11 Lou, Hl{Jh Lou, Htgh Lou, Htgh 'LoUI Hv.,11 Lou, Hv.,h LOU! HIIJh LOU! Hl{J'h CANAL Cbesap & Del, 1st mtire._._5 ·-·Lebitrb Naviiration, ext---'½···RR mortgage, 1914_. ____ 4 ........ Fund and lmpt, 1948._ .. _, 1013s 10138 General mortsrage, 1924.,½ 101 101 Conso, 1911. ____________ 7 --··- --·- ·-·· 62 62 ·-·· --·· --·- •••• ···- -··· •••••••••••• .... 10234102.34 102731027s 103 103 103 103 •••••••••••••••• 1023410234 1021410234 •••• -·-· 103 103 ···- ........ ···- ........ -··- ·-·· ........................ 100 100 -··· •••• ··-· •••• ··-· ···•••• ·-·· •••• -··· fl063s 073s t And lnte ···- •••••••••••• 1011210112 101 101 102 102 ··-· ··-· 10073 10073 1003410034 •••••••• 10034101 •••••••• 1051210512 ---- ---- •••• -··- •••••••• 1051210512 106 106 •••• ·.·.·.-_ • -;;;, 1• • • io· • 10014 10614 ·-·- •••• ________ 1055s 1055s •••• •••• •••• •••• •••• 10.,.,.. 0334 3341 04 rest, PHILADELPHIA STOCKS IN 1909. STOCKS. Januaru Februaru March AprU Mau Jum JuJu Augmt September October NOrJember December Prtcepershare,notpercent. Par Lou, HIIJh LOU/ HIIJ11 l,ou, High Lou, Htg11 Lou, Htgh LOU/ Htg11 Lou, Htg11 Lou, Htg11 LOU/ Htgh LOU/ Htgh LOU/ Htgh LOU/ Ht{J'h ------------1---------------------------·-------------------Alliance lnsurance·-·-·---10 12 12 •••• ---· 1312 1312 1312 1312 •••• Amalgamated Asbestos .. 100 ............ ·--- .... Preferred ··--····-··-· 100 .... -·-- ·--- ____ .... !::~i:ac:d~r:;e°!l'.~~~==~gg *40. .ii. ·40· .4i. ·as· ·io· ·a1is •••• 12 12 •••• •••• 131 2 1312 •••• •••• is1; ·asi2 ·a91~ -39. ·401; ·asi2 .iii; .3934 ·-12· -39i4 .ii- ·4o· American Oas of N J ..... 100 97 97 .................•.............. -··· ···- .... ........ ··-· -··· Amer Iron & Steel Mfg, Pf-50 ........ 4812 4812 -·-· ••.. -··· ••••.••••.••..•• ···- -··· .... ··-· ··-· ··-American Milling ......... 10 -· · · 173 2 1933420614 1.8114 2 15s 173 112 15s 112 15s 114 112 Amer Pipe Manuf--······100 125 125 American Railways_ ••••• -50 44~s 46 Bell Telephone <Pennsyl v) 100 9934 10312 Bergner & Eng Brew,pref-100 •• •••••• Cambria lron ••••••••••• -50 46 4612 Cambria SteeL ••••••••••• 50 *3734 3934 Catawissa, 1st preL- ••••• 50 57 5812 2d preferred·-·-····· ···50 5612 57 Cons Traction of N J ••••• 100 727s 7334 Delaware & Bound Brook-100 -·-· Delaware Insurance.·-····10 *2312 25 East Pennsylvania __ ··-··-50 66 66 Electric Co. of America •••• 10 •101s 11¾ Electric Storage Battery •• 100 43 47 Elmira & Williamsport •••• 50 -··· •••• Fairmount Park Transport-. 8 10 Fire Association-···-····-50 315 315 Frank & So Pass.·-·· -···50 385 390 General Asvhalt trust ctf .100 1512 1912 Preferred trust certs •••• 100 53 60 Oermantown •• -·-···· ··· - 50 120 120 Harrison Bros, Inc., pref.100 ··-· -··· - Har PM J & Lan-··-·····50 9212 94 Huntingdon & Broad Top __ 50 ---· ··-Huntingdon & BT, pref_._50 4014 41 Insurance Co of N A ...... 10 21 223g Int Sm Powder & Cbem ... 50 Interstate RailwaYS--·-··100 John B Stetson .......... 100 Warrants -·····-··--··-J O Brill Co (The), pref __ .100 Keystone Telephone- ..... 50 •••••••••••• ···- ••••.••••••• ···45 4634 4512 46 4512 46 4514 46 10012 10214 10112 10212 •102 10314 10412 10812 101 101 •••••••••••••••• -··· ···46 46 4614 47 4614 467s 46 4614 327s 381s 34 36 3512 3712 37Is 401s 5712 58 59 59 5814 5814 58 58 57 57 -·-· 5734 5734 5612 561 2 7312 75 75 77 7612 77 77 78 •••• ·-·· •••••••• 25 25 69 69 -·-- -·-- -·-· ·· - 11 n12 1114 1234 1214 125R 4314 4734 •4514 47 4434 47 ··-· ··-· -··· •••• -··· ··-· 912 912 -· -· ···9 12 ··-· ··-· -·-· -·-· ··-· -··- ··· ··-- *385 385 385 390 1114 2534 22 2534 23 2514 5712 667s 62 · 66 6314 6612 •••• ···- 1203412034 120 121 •••••••••••••••• -·-· •••• -··· •••• -··· ···- -··· •••• _;. •• ··-· --·· ··-- -··· •••• 38 39 38 3812 -··· ··-2112 22 2112 2214 2112 22 -··· 45 108 --·· 46 397s 5634 5612 78 --- · 96 96 --·· • ••• 7 30 3014 32 2114 221 4 221s •• -- 96 96 -- -··-- 50 15 12 15 ---· •••• 12 3514 3512 35 35 ••·•• 35 22sa *2178 23 22 223s 22 • • • • 12 ·--- 95 95 97g 1414 12 145s 1212 15 127s 1434 1234 14 13 1412 1312 137s Trustees' cereificates ••••• 50 10 10 10 10 10 13Is 12 13 --·- ··-- 1234 13 -··· ____ Preferred ······-·······50 30 3612 3312 35 34 42 38 42 4112 42 41 44 43 43 Keystone Watch Case ___ .100 -·-· •••••••••••••••••••••••• ···- -··· •••• •••• Lake Superior Corp •• - ••• 100 1613 193s 183s 195s 1s14 30 26 3318 2134 2912 21 2714 251s 287s Lehi&h Navi&ation ••• - •••• 50 98 104 100 10434 10412 ll2 10234 1061 2 1021210412 103 11314 112 11934 Warrants··-·-··········•••••••••••• ··-· -··· •••• 53 57 -··· •••• ···- -·-- -·-· · ·-Trustees certific.a tes....... 98 10312 1001210534 104 11212 10312 10612 103 105 103 11312 11212 12114 Lehi&h Valley ...... -···-·50 67 7312 69 7312 721s 7834 7634 8012 7834 8112 7912 8412 8334 875g Preferred -·---·-······-50 -··· ............................ 120 120 --·· ••• • •••• ··-- ··-· •••• Lehigh Valley Transit •••• -50 -··· •••• •••• •••• 714 734 •••••••••••• ··-- --·· ··-· •••• ···6 6 Pref voting trust certs •• -50 15 17 14¾ 15 14 17 1638 17 1534 1678 15 1512 ··-· •••• 15 1514 Lit Brothers ___ ····-··- •• 10 157s 1614 1512 1512 1512 1512 1512 1512 •••••••• 15 1534 1534 1534 16 16 Little Schuykill-·-·······50 57 58 •••••••• 59 59 5814 5914 5814 59 59 59 56 57 -·-· -·-· 58 .••• ·--- -·-· •••• -·-Manufactured Rubber._._ .10 34 a4 58 58 58 •••• •••• s8 58 Preferred -·-··········-10 414 434 •••••••••••••••••••••••••••••••• -··· ••• •••• ••••• --·· Marsden Co --·· ·········100 1.8114 2Ig 17s 2.0614 1.9334 2 •••••••••••••••• --·· ··-- -··· ··-· ··-· Minehill __ ·-············50 615s 6212 6233 627s 62 6312 63 6312 63 6314 63 6314 6114 62 61 62 Norfolk & Portsm Trac •• • 100 •••• -··· -··· ··-· 16 16 1112 21 2034 22 211s 2134 •••• ···- -··- ---· Norristown -·---·· -······50 151 153 150 150 151 151 15212153 1531215312 151 1521215112151121501215134 Northern CentraL---·····50 991210712103 10414104 10534 105 10614 1061210612 --·· ··-- 10412106 106 106 North Pennsylvania ...... 501011 2 102 10012 10012 10014 101 101 101 1011 2 1011 2 1001210112 1001210012 10034101 6:: 6;!! ·iis-58 -6·is; .403~ 3 3 ~gl4 !g14 ·2s~ i9ii 112 112 2 114 112 •••••••• -·-- ·-·- ···- ·-·· -·-· --·4534 4634 4518 46 4512 46 45 4512 120 12434 121 12114 *1191 2 121 120 12012 ---· •••• ··-· ··-· •••• ··-- ---· ·--4612 4612 46 47 46 4634 4612 4634 423s 4614 425s 491s 4412 4834 4512 475s 56 57 •••• 57 57 ···- -·--·- · --·· -··· 56 5614 5514 5514 7614 7714 77 771 2 75 767s 77 7712 •••••••• ··- 25 25 24 25 ··-· ··-- 25 25 •••• -··· -·- · •••• 68 68 •••••••• ·- -· 1214 1218 121s 1212 1213 123s 12 125g 1214 1212 5112 6312 60 6212 *5914 6312 58 61 57 59 49 49 •••• •••• •••• • ••• -·-· ··-· 10 11 10 1012 7 7 7 7 7 9 330 330 328 328 •••••••• 346 350 •••• -··•••• ---· 395 405 •••• -·-- ··-· •••• 395 395 201 2 2412 22 2458 22 231s 21 2412 2112 247s 623s 6914 *6712 71 6814 70 697s 75 7134 *7512 •••• 9 115s 8 8 30 32 -··· ··-· 1434 1614 9534 104 •••• ··-· 96 105 72 7634 ·i1·· 1214 ............ 100 100 ··-- •••• ···4534 4458 4512 117 *11434 12434 95 95 4614 4514 4614 431s 41 44 57 57 57 5612 56 57 78 *7512 7612 -··· ··-· 25 25 -··· •••• ··-· ··-12¾ 125s 123g 1212 45 4912 4812 55 49 49 -··· ··--·· · •••• -··· ···-·-· ··-- -··· ··-390 390 *390 390 23 2414 19 23 *6312 66 62 65 .... ···- ........... . -··· ·-·· .... ···- 2934 2934 -··· ··-· •••••••• -··· ................ 360 360 •••••••••••• ·--· --·· -··· ··-- ............ ···- ........ --·- ··-- .... ~=~~~~~~t,·_-_-_-_-·======~~ 65-;s 5~14 6~1 8 6~ .ii4is 12 -··· -·-- ··-- ................ ____ .... -··· ____ ____ ____ ____ ___ 3013 3014 . ... -··· ............................................ --·· .... 9034 903~ -61is ·6·9- -6s· 10 50 50 1238 12 30 2234 2214 16 1514 ··-· 1214 13 1134 1314 41 42 • •• ~ 26 2812 115 120 ---· ···116 12012 8612 113 ···- •••• 512 512 •••• ··-16 16 5&14 57 ··-· 50 12 3212 2234 1514 •••• -·-· 12 2812 221 2 --- · •••• •••• 12 30 2318 1214 5534 --·· --·· -·-· ---· 24 74 125s 621z 3314 8412: 96 ·--· 10 20 23 ··-- 300 320 96 96 1114 1334 10 1234 3934 3934 -··- ---· 27 2814 11034115 -·-· ---11012 115 9534100 ··-· -·-·--· ···-·-· •••• ---- ·--5712 58 5g 5s -·- - --61 62 61 62 61 6112 -··· ____ 18 18 ---· ____ ____ ···- 150 151 ··-- ____ 1051410812106ls1061z 106 106 100 10012 1001410014 10014 10012 5914 _1_1_3~ -iiili2 1.3114 134 ··-· ·-·· 45 48 12012 12012·· - - --·· 4534 47 46 495g. 5512 56 5514 5514 77 78 195 196 -·-· -··· 10 1234 •••• --·41 41 -··· •••• 2634 307s 116 11812 ____ -· -11412 11812 953410134 110 110 512 512 ··-· ·· -16 16 57 57 ·1·ss; ·12i2 -is- h6s· 97 97 3s: 1112 13 117g 12 40 45 120 120 257s 2834113 125 ··-- •·-· 113 12512: 9614 1~014-·-· •••• ---- --·· 1314 141z---· ---· 58 58 5s 5g, ---- ---· -·-· -·-· 61 6134; 201s 2012' 1.50 150 106 122 100141003s _1_4_3 -64¾ 4 -687; Warrants-·-··········--- .... ··-· -··- . ... -··· ... . ··-· ··-- .... ··-- -··· -··- --·· ··-· -··· -·-· ··-· ____ -·-- .... 1434 173s 4.0G 14171z Penn Salt Mf& ............ 50 106 109 109 110 106 109 105 107 107 10814 10812 109 110 100 110 111 1111211112 107 110 h104 10812 106 IC')' •· Warrants ·-·--·---·-·--- ____ ···- -··· •••••••••••• ---· ·--· •••••••••••••••••••• -·-· ---· ··-4 712 .r 6 1 Pennsylvania SteeL ..... 100 -··· ·-·- -··· ........ ··-- -·-· ........ --·· .. .. ··-- 68 68 -··· •••• 66 70 70 70 65 65 -- - · -~-· Preferred ···········-·100 1035s 10412 103 104 101 10412 104 10514 104 10514 109 111 115 11712 116 117 116 11612 116 117 115 11612 115 116 Phila City Passen&er $23 ¾pd .... ··-- ·--· ............ -··· ............ 175 175 ---· ··-- ____ ··-- ··-- -·-- -·-Philadelphia Co.····-··-·50 42 4314 401 2 42 411 2 43 4I7s*4234 411 2 431 2 4112 43 4112 4214 4134 4914 4712 49 4712 485s 4812 4914 481 9 5 17s. 44 Preferred ·· ·--·· --·····50 4312 44 •4112 4212 42 4234 41 43 4178 4414 42 4212 43 43 4534 4312 4412 44 4414 44 4434 44 ~ 451211a8 12 Phila Elec •• ____ • • $13 ½ paid 1112 121s 1114 12 111 2 121 4 1134 1234 1158 12 1134 123s *ll7s 125s 123s 1234 1214 135s •12;8 1314 127s 141s Phila & Gray's FerrY- ·-· · -50 ............ ·--· ........ -··· ·· -- .... ·-·· .... ··-· .... ··-- .... ··-- -··· .... --· · -· - - 90 90 Philadelphia Rapid Transit-50 2478 2812 26 283s 2634 2918 29 361 2 31 363s 251 4 3312 28 3053 29¾ 3214 261s 3012 247g 2914 2512 281s 257s 285s. 92 Philadelphia Traction_·-· .50 9012 931s 93 935s 91 93 92 9414 92 9414 91 90 , 91 9012 91 8812 9114 89 9014 8812 8912 8812 89 Phila & Trenton-·-------100 .... ·· -- -····· ·- ---· ·--- -·-· ··-· -·-- ···- - •-- --·- ........ -•.•· ·--- .... ·- - - 251 3 251 Rail ways Co General. ..... 10 8 8 8 8 8 8 8 8 118 8 77s 77s 8 9 934 11 914 1012 *10 10 912 912 9 4 934. Readin& .. .............. 50 *657s 121s 5912 67 6078 6814 5714 7418 72 7918 7334 79a8 *77 807s 775s 827s 7814 8634 793s 851s 8012 86 14 83 1s 8614 1st preferred ........... 60 45 46 46 46 44 451 2 46 49 45 46 45 46 46 4634 4634 47 46 47 4512 4612 45 4612 4514 47 2d preferred .. .... .... 50 4534 4714 453s 46 451s 46 --·· •••• 47 52 4812 5012 49 5012 51 51 50 5034 49 5012 49 50 50 561:iReading Traction--· ·----. 50 --- · -··- . . . . .... -·-· 3312 3312 ___ _ 90 ---- 90 Rochester RY & Lt, pref.100 89 92· -·-· ·-·· -·-· •••••••••••• 90 90 91 91 91 91 ··-· ··-· •••• 2d & 3d St Passen&er •••• -50 13th & 15th Streets- ••••• 50 Tidewater SteeL-·---··--10 Tonopah Belm Dev •••••••• 1 Tonopah Minin&·-··· ···· ··1 Union Traction-·-·--··-··50 Union Traction of lnd----100 United Co's of N J_ ..... 100 United Gas Improvement •• 50 Certificates of allotment_ __ ._ Full paid subscrip rects--·U S Steel Corporation._._100 Preferred ··-·-······-·100 Un Traction, Pitts, pref ••• 50 Warwick Iron & SteeL.- •• 10 Welsbach -····-···-· ·-·100 --·· -·-· 270 270 ·-·· •••• --·· ···- -··· 265 280 --·· ···- •••••••• 275 275 --·· •••••••• ·-----· ·--- ________ •••• ··-· ---· •••• -·-- ··-- •••• • • •• 34 1 34 .9334 34 1 .93341.8114 34 1.0614 12 1 534 6.5614 6 612 61s 7 .8114 612 7¾ 67s 714 67s 714 507s 5434 5158 5414 521 2 551 8 5434 5834 553s 587s 5·1 57 -·-··- •••••• ··-· •••• -··· -··· ···- -··· ··-- --·· •••• 253 25312 253 25312 253 254 253 2531 2 2531 2 25414 25314254 9114 9414 g918 941 2 _8938 92 871 2 9134 •8458 901 2 8712 901 4 •••••••••••••••• -··· ··-- •••••••• 34 38 3612 3912 --·· ·-·· •••• ·--- -··· ·--- •••••••• ··-· ··-- 8812 8912 55 54 64¾ 64 6934 511s 55 4158 5318 431 8 4914 49 112 1141 8 10734 1141 2 110 1121 2 114 115 11678 12014 1201s 12768 44 45 44 44 44 44 44 45 •••• ···- 4534 47 7.9334 s18 71 2 8.1834 71 2 8 71 2 g1 8 734 834 834 9 ··-· ··-· 29 29 29 30 31 31 31 3314 3712 3712 West N Y & Penn ........ 50 612 61 2 •••• ···- •••• •••• 434 5 W Jersey & Seashore ..... 50 4858 4958 491 2 51 4R34 501 2 481 2 50 491 2 5018 50 501s Westmoreland Coal. ...... 50 9412 95 9434 95 9112 9534 9112 94 9212 9312 9212 9212 West Philadelphia ........ 50 --·· Wilke~Barre Oas & Elec._100 -··· .... .... .... .... Wm Cramp & Sons S & E trustee certificates-- .. -100 ........ -··· ....... . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis •Ex-divide nd. 60 16 16 60 -·-- -··· ··-- -·-· 291 ··-· ··-· •••• Is 1 14 34 ts 3s 34 .9334 34 .9334 34 .8114 534 713 634 71s *65s 7.0614 52 55 5312 56 52 5414 ··-· -·-· -··· ··-- ··-· •••• 2521225234 25112253 250 25212 8714 9014 8812 907s 90 94 --·· •••••••• ··-- --·- --·· -·-- -·-- ---· ···- -··· ··-6773 743g 7312 791g *757s 9014 1251412812 *124 129¾ 1255s 13034 •••• ·--- ··-· ____ 44 44 934 912 1134 9 9 9 40 43 3934 40 3934 40 ·--· ____ --·- ··-· 50 5114 5134 5814 55 56 94 94 9412 99 98 99 -··· 240 240 ·-·· •••• 6712 6712 ·-·· 70 70 ._... 23 291 24 25 26 -··· 5s 34 65s 67s 513s 537s -··· ··-· 24934251 89Is 9234 - --- ··-· ---- ·--8512 947s 127 13034 ---- -··1112 12 ··-- •••• 412 412 5412 5412 97 9712 -·-· -·-· 7412 7412 1~ 3463s 76s *51 12 54 1 ---· ··-- 23 12 23 2 250 252 250 252 8912 9112 8934 951:i---- · .· -· --·· •··· -·-· ---· ---- --·· 8514 93 1s 8&14 9212 1247g 12814124141 261246 46 ---- •··11 1114 1012 111s.3912 40 3912 40 5 5 434 5 5114 5412 52 55 9612 97 95 9612: -·-- ·-·· ---75 75 *83 83 5s 612 1 634 5I7s 54 301 2 211 2 271 2 2118 2118 2712 2914 29 h Ex•rlg'ts j 29 128 BALTIMORE BONDS. BALTIM ORE BONDS IN 1909. BONDS Janua111 FebTua111 March A111fl Ma11 Juna Juli Auuu,I September Ottober NOfJember Deumber ~~~~~~~~~~~~~~~~~~~~~~~~ ------------·!---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---Alabama Central 1st _______ e ________________________________________ 1121 2 1121 2 Alabama Coal & Iron- - - - - - _5 8414 8414 8212 8212 81 84 84 84 84 84 84 84 Alabama Midland ---------- 5 ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ Anacostia & PotomaC------5 103 104 10212104 1033410412 1037g 104 103121037g 1031210414 Guaranteed--- ---------- 5 103121053,i 10412106 106 107 ________ 10534106 106 106 Atl & Char 1st extended--4½ ________________ 1001410014 1003s 1003g ____________ ....• Atlanta Consol Street---- -- 5 105 10514 1051410514 1051g 1053g 105 10514 105 10514 105 105 Atlantic Coast Line RR-----4 96 9734 961g 967s 9634 9712 97 9734 9634 9714 96 967s Certificates indebtedness--4 ---____________ 8412 85 8412 85 Equipment 1917 ________ -4 ____ ____ 975s 975s --·· Equipment 1912 ......... 4 .... .... .... .... .... ____ 84 Certificates ···---·-·--·- 5 Certificates ········-····4 Certificates (new>--····-.4 Certificates 5~20s ·····--- 4 Atlan Coast Line So Caro __ -4 Augusta RY & Electric ..... 5 Bait & Annap Short Line ... 5 Baltimore Brick ........... 5 Bait City Passenger 1st ..•. _5 106 A~~~ffc'i:::rl~~: c~~~~~t~ ···- 1001s 10014 83 83 8014 8112 8512 8512 98 9834 101 10112 ____ 84 ••••••.• 84 8434 86 86 8912 90 --·- --·· 10034 101 10614 1061 4 8334 8334 •••• •••• ____ .•.• 9934100 10034 10114 ........................ ···- .... 95 95 7212 7212 72 72 7212 7212 72 80 ••••••.• ... . . ... 101 101 1015s 1017s 10112 10112 10134 10134 ••.••••••••••..•••••••••••••••.. 100 100 8634 88 861s 911s 8934 903s 90 9014 90 9112 ···- .... 1033410334 •••••••.••••••.••••••••. .•.........• ·-·- 1037s 1037s ••••••.• 1035s 10358 .... .... .•.. • •.. 1037s 1037s •••• •••. 85 ____ _ ___ ____ ____ ________ 10514 1051 2 9512 96 9534 9634 85 8514 86 885s .... ··-· .... ···- 108 108 1081210812 ••.••••••••••••• 8212 88 8512 8612 87 89 8712 88 9912 9912 -·-- -·----· ____ 1003410034 84 _ __________________________ _ 841 2 821 2 831 4 4 841 2 8514 8438 ____ _851 ________________ 108 1091 8 103 103 1021 2 1021 2 102 1021 2 102 103 _ ___ 1031 2 104 1031 2 104 105 105 _ __________________________ _ 105 105 ________ 105 105 105 105 9434 951 4 9434 96 9434 951 2 94-1 2 951 2 8812 90 89 97 98121071 2 991 2 10518 .•.•.•..••.• 9558 9558 •••••••• . ... 9838 9838 ••••••••..•• ·-·1037g 1037s 84 ·-·· .... • ••• 105 105 •••• • ••• 831 4 85 •••. • ..• 87 891 2 871 2 871 2 ••.• •••• ••.• •••• .••• . .•.••.• ·-·____ .•.• --·· --·· ________ 93 93 93 93 91 933g ...•...• 99 99 ________ 9878 9878 98 9834 9734 98 98 98 1013s 10134 ____ •••• 10134 10134 10134 10134 ••.•••.• 10134 10134 101a4 10214 •.•• • ••• 9212 9312 .••• -··· ·-·· •••. ··-· •.•• ·-·· ···78 78 ••.•...•.•••••...••••••. • •..••.....•.•.• 80 80 . •• • • ••. 10112 10134 10112 10134 10034 10114 10034 10034 10034 10034 10014 10034 Certificates cf indebt ••• 4 ½ ••.•••••••••.... 100 100 ..••••••••.••.•• 981 2 9812 981 2 99 Bait Electric stamped.·-·-·5 9114 9112 8912 9012 90 9114 91 91 91 91 901 2 91 901 4 91 Bait & Harris 1st M ...... 5 • ..•.••• 1051sl051s •• • •...•...•.••• 105 106 10614106141061410614 Bait & Potomac-Main Line 6 104 104 103 103 10334 10334 .•.• • •••.••• ···1st Tunnel 1911. ......... 6 ..•• •••• •••• • ••• 103 103 .•• • • •••••.••••• Bait Refrigerating & Htg ... 5 ·· -- .... · -·.... ···- --·· .... --·- .... ·-·- ____ --·- --·- ____ ____ ____ 15 15 Bait Sparrows Pt & Ches-4½ 9434 95 _____ __ _ 91 91 91 9114 9212 94 9314 9314 ··-· ·--· 95 95 9312 9312 93 931 2 ·-·- •••• 921 2 94 Bait Traction 1st 1929 •• ____ 5 112 11214 ·-·· •••• 112 112 11112112 .••• ••.• ••.• •••• ••.• . •.. 1101211012 •••• • ••• 111 111 Birmingham Electric .-·-·--5 ·-·- .... .... . ........... 1043410434 ---- ---- .••• • •••••.• ··-Brooklyn Rap Transit •••••• 5 ·-·- ---· .... . ... ·--- .... 1061210734 1075s 1075s ••.• • •••.....••• Buff Roch & Pitts equip . -4 ½ ··-- -··· ·-·- .....•.•.......•............ 99:i4 99:i4 •••• • ••••• . • · · · Carolina CentraL ••••••.••• 4 •••••••• 93 9112 9312 937s 9312 94 9312 95 9434 95 9512 96 947s 9514 94 9412 0214 93 9234 93 921 2 93 Central Ry-Consol 1932 ... 5 1121211212 ···- ____ 113 113 ____ --·- ____ -··· 1101411014 Extension and impt 1932 .. 5 ____ .... ·--- ---· ________ --·- ---· ·-- - --·· ........ 111 111 -··· 111 111 ••.••••••••••••• 1101411014 1912 - · · · · · · · · · · · · · · · · · · 6 1013g 1013g •••• -··· •••• --·· .••• ···- ·-·· ·-·· •••••••.••.•••••.••••••••••••••.••.•••.•.••• ··-- --·· Chamber of Commerce lst--5 1011210112 •••••••••••••••• 100 100 ••••••••••.••••. · ·-- ____ ---· --·· •••• ·-·· -··· •••• ··-· ··-· -··· •••• Charleston Con RY O & E •• _5 8914 91 873s 873s 8612 88 92 92 9112 9214 91 Ill 907s 907s 92 92 9012 9012 9012 901 2 9014 901 4 90 901 4 Charleston City RY lst ••••• 5 105 105 •••••••• 1041210412 103341041s 1041210412 ••.• ··-- ··-· •••• ·· ·- ··-· ·-·· •••• ··-· •.••.••••••• Charleston & West Car 1st. -Ii 10814 109 10814 10814 10814 10812 10912 10912 1091210934 10912 10912 • • • • • • • • • • • • • ••• 10812 10812 10814 109 107 10712 10612 10612 Charlotte Col & Ausiext'd- .. 5 10512106 lll 11134 1101411114 1111211134 112¾ 1123s 1111211134 •••••••••••••••••••••••••••••.•• ···- ••••.••••••• aCincinnati Oas Trans guar-5 •••• -··· •••• ···- ···- •••• -··· --·· -··- ____________ --·- ---· ·--- ____ --·- --·· a9712 9712 ··-- --·- ··-· -··· bCincinnati Oas Trans guar.5 ................................ ·-·· ·-·· .... -··- -··- --·· .... ···- -··- ··-· b91 91 ••••..•. ···City & Suburban lst-------5 1091410914 1085s 10914 1091410912 __ ______ 108 10812108 108 10814 lQ8l4 •••• ____ 108141087s ____ ··-· •••••••• 10714 10714 City & Sub lWash> lst-----5 106 106 102 105 105 10534 105 10514 10434105 105 105 1043410434 10334104 103 10312 •••• ···- -·-· -··· 102 103 Cleveland Electric 1913 _____ 5 .... -··· ·--- ____ 92 92 ···- ____________ -- -- ---· ---- ---- ·--- ---- ---- ---- ---- ________ ---· -··· -··Coal & Coke RY 1st---- --- -5 103 103 ·--- ________ ·-- - ____________ ·--- -··- ·-· - ____ --·· ---- ---· ··· - ·--- --·· •••••••• ---· .••••••• Coal & Iron lb lst---------5 103121031 2 ________ 101 1011 2 -·-- ___ _ 102 10214 1023s 1023s 1021210212 103 103 1021210212 10118 10212 10118 1021s 102 102 Colorado Southern---------' 9912100 ________ 9812 981 2 975s 9758 977g 98 ·-·- --·· ________ 0834 9834 --·- --·- ·--- -··- ·-·- ·-·· 9634 9634 Refundinir -·----------4½ 995s 995s ··-- ---· ________________ ·--- ____ ---· -·-· --·- ·--· ·-·- ---- ·--- ____ ·--- -··- ·-·- --·· •••• ·--Columbia & Oreenville-----61081210934 109121091 2 ____ -·-· 110 110 110 110 --- - •••• 1091210912 -··- --·· ____ ·-·-1081210812 ··-- --·- 106 106 Consolidated Oas 1910-----6 102 10234 102 102 10112102 1011210134 1015g 10134 1013g 10134 1011.il0112 1011410114 1007s 10114 1003g 10034 100141003g 1001 8 10014 Bonds 1939- - ___________ 5 1101211134 11112 llll>s 111 112 111 11114 11112 1111211112 1111:: 111341113411112111121111211112 ---- ···- 110 1111210912110 Certs of indebtedneH---4½ 9412 9612 9314 931 2 933g 9334 9314 931 2 94 97 9512 9714 9512 97 9614 97 9512 9512 943s 95 93 9414 94 95 Consol Oas Elec & Power-4½ 8212 8614 85 85 833s 85 8414 8434 85 863s 85 8714 85 855s 8512 855s 85 8512 ---- ·-·· 8312 84 8312 8614 Consolidation Coal -------4½ --·- --·- 94 94 94 951 2 9412 94:-,8 95 9512 9412 9514 -··- -··- 9612 9612 ·--- ··-· 96 9612 951s 951s 9412 95 Cotton Duck 1st 19'9------5 7912 8014 77 781 2 781 2 so1 2 791g 795g 795s 83 8012 8234 81 82 8112 83 8014 817s 77 8012 75 77 76 7914 Det Roch Romeo & L Orion-5 ---- ____ ---· --·· ____ ·-·- --·- -·-· ____ -- · - •••• ···- ···- --- · ·-·- --·· ____ -··· 1005s 1005s •••• ·--Detroit United----------4½ 80 82 8178 8514 84 851 2 8314 841 2 83 8312 8312 8312 8314 8314 8334 85 84 84 83 84 8234 83 ·--· ·--East Tenn Va & Oa 1st _____ 5 ____ ____ ____ ---· ·-·- ____ 1131211312 --··--· ·-·- --·· •••• ·-·- ·--· -··· •..• ·-·Fairmont & Clarksb Trac ___ 5 ________ --·---· ________ --·- ____ ·--____ 95 9514 9514 9714 9612 97 96 9614 951 2 9634 Fairmont Coal 1931--------5 ·--- ---· ____ --· - 9412 9412 9412 98 97 9714 97 08 ·--•••• 96 97 9612 9612 Ra Cent & Penin Cons-----51003410034 ____ --·- ·--- ____ ____ ---· 105 105 ·-·931g Florida Southern 1st-------4 9312 9312 ________ 93 9334 9313 9312 93 93 ·--- ·--· 93 93 ··-- ---- 94 94 93 93 ---- 93 Florida West Shore 1st _____ 5 8712 8712 ·--- ____ 86 86 ____ --·- ________ ---· ____ --·- --·· ·--Pt Worth & Denver CitY----6 ____________ ---· 116121161 2 --·- ____ ·-·- ____ 1151211512 ··-· ·--· --·· ••••.••••••••••••••• 1131211312 ... • Oeoriria & Alabama-cons--5 102 1031 8 1021 2 10314 1023s 1031 8 1021210478 10412106 1053410612 1051410612 10512106 1051210534 1043410512 103341045s 104 106 Oa Car & North lst--------5 1041410512 10514 1051 2 105 106 105 106 1055s 106 1051210614 1053410614 1055s 1055s 105141055s ·-·- .••• 10412105 10412 10534 Oeoritia Midland ___________ 3 ________________ ·--- -··- --·- ____ 6614 6634 --·- --·· ---- --·- --·- •••• ·-·· -··- --·· --·· -- -- -··· ...• -··<leorsiia Pacific 1st---------6 ________________ 116 116 --·- ____________ ---· --·- -··- --·- ·-·- ··-- ··-- ·-·- ·--- ·-·- ---- -··· 1133411334 Oa Sou & Fla 1st 19'5------5 1081210914 109 10914 10914 1091 2 10912110 110 110121091210934 1091410912 1091410914 109 109 1081210914 1081210914 108 10912 0-B-S Brewinir 1st---------' 441 2 46 42 4218 4214 4414 42 4334 4114 42 41 42 4214 47 4614 4712 4534 46 44 45 401s 4412 41 43 ldincome---------------5 15 15 10 10 10 101 2 1118 15 14 14 --·- ·--- 1212 1514 1412 1514 14 147s 1312 1412 12 1334 ____ ·--<Jrand Ra pids RY·- -------- 5 --·____ --·- ____ ···- ____ -··____ ·--- ---- --·- -·-- --·- •••. 1011210112 ...• --·Kansas C ity West ref- _____ 5 ____ -·-· ____ ·-·· ·--- ____ ·--·--- --·- ____ ---- ---· ·--- -··- ···- ____ 9412 9412 Knoxville Traction---------5 ________ 10514 10514 10534 10534 105 105 ·-·•••• 106 106 105121051210512106121051210512 105 105 105 105 Lake Roland Etev-ituar irold 5 ____ _ ___ 115 115 ---· ____ 115 115 •••• -·-- 114 114 ---·-·- 11212 112121121211212 ···Lexinirton (Ky) Street-----5 96 98 96 96 ____ ---· 95 97 9634 9634 97 97 ·-· ---· --·- ·-·· 91 91 McCall's Ferry Power------5 ____ ____ ____ _ ___ ·--- --·· -·-- -- ·· 50 50 Macon Dublin & Sav _______ 5 ·-·-··· ____ ·-·- 9414 9414 ·-·· •••• 95 96 ·-·- ·--- .••• ·--- 9512 9614 97 9714 Macon Railway & Liiiht----5 ·---··· 96 96 96 96 95 96 96 96 --·- ____ 95 96 9412 95 95 953s ~'rylz..nd. Club ·-·------ -4½ --·-··· ·--- --·- ____ -··· 100 10015 --·- -·-- ···.•.• ···- -··· ···- •••• 1001410014 Ma-nland Electric 1st ______ 5 ____ ___ _ 95 9534 9434 951 2 943s 9434 943s 945s 943s 9714 967s 9812 9734100 9714 9914 9612 98 97 9734 Mar.yfand &. Pennsylvania--4 ·-- - ---· _______ _ 911 2 9234 · · · - ·--- 92 92 ·-·· --·- -··- --·· 9212 9212 ··-- ·- · 91 91 Income ------·---------4 6134 6134 61 6134 132 62 60 60 60 6112 61 61 62 62 62 62 63 6634 .••• • ••• 62 65 Md & Penna Terminal ______ 5 ________ ·--- --·· 100 100 ·-·· ···- •••• ···Maryland Steel lst--------.5 --·- ·--- 1021210234 103 103 --·- ·--- ···- -·-- 103 103 -·-· ··-- ·--- ···- ··-Maryland Telephone-------5 94 951 2 9458 981 2 98 99 9814 9834 90ts 9912 ·-· ·--- 9912 9912 -·-· Guaranteed ------·----·- 5 --·· ···- ·--- -·-- ···- .... · ··- ··-- ·--··-- 9912 9912 ••.• Memphis Street RY-- ___ ___ 5 951 4 951 2 ·--- -- -· 96 9tils 963s 9714 97 97 98 99 9834 99 100 1001s ••••..•• 99 9912 9912 9912 ...• Metropolitan Street 1925 ____ 511234113131111 2 1111 2 1na4 11134 •••• . •.. --- - •••• 1081410814 ••.• Milwaukee Elec Ry•& Lt--4½ ____ ____ 9614 961 4 •• -- ---· ···•••• -·-- ·-·- ••.•••.• ---· Milwaukee Oas Light lst---4 --·____ 9214 921 4 9214 9214 9234 9234 •••• • ••• -·-- .•.. 9112 9112 9014 9014 9014 9034 Nashville & Tennessee--·--' ··-.... 9812 9812 .••• • ••• --·- ___ _ Nashville Water 1920· ---4½ ·------ ---- ____ ·--- __ __ l0l12l0llz Newport News & Old Point .5 91 91 ·----·- 90 110 947s 95 93 94 95 95 95 95 93 94 93 93 Norfolk & Carolina lst------5 112 112 ____ _ ___ ---· •.•• 1121411214 11214 ll214 .•.• ·--- ••.• ---- ...• Norf & Portsmouth Trac ____ 5 ·-·- ____ ____ --·- 85 881 2 87 8812 8634 Sil 85 8714 83 84 84 8434 8312 8312 -·-- ·--· 81 8412 Norfolk Railway & Light ••• 5 9534 9514 96 97 951 2 96 96 9734 97 981 2 9s1410112 9812 9912 •••• ·-·- 9812 99 99 99 9512 9712 97 9814 Norfolk Street Railway. ____ 51061 2 10612 ·--- --·- 105 106 105 1053& 1053410534 ·-·- ____ 110 110 -·· - ·-·· 1051210512 .••• ·-·- ••.. -··· 106 109 North Baltimore TractioD---511418 11418 11318 11318 115 115 --·- ---· 116 116 •••••••• 113 113 11312113341131211312 1131211312 ···- ·-·· 113 113 Northern Central 1925----4½ ________________________ 107 107 ·--- --·- 107 107 107 107 ..•• ·-·· ---· -·-· -·-••.• 106 106 Oold 1926 Series A-------5 1131411334 ________ 1131211312 ···- ·--· ----- ·· •··- •··· ---Oold 1926 Series B-------5 ________________________ 1133411334 --··--- --·- --·· -··Omaha Water Co 1946------5 ________________ 10038 10038 ···---- 1001410014 ·-·Petersburg Class A--------5 1091411012 ·--Class B-- ----·-·--- -----6 ________ ·--Piedmont & Cumberland ___ 5 --·- ____ ·--·- •• 99 99 --·Pittsburgh & Allevh Telep __ 5 ________ ··-8614 86 86 •••• 8478 8512 8512 86 86 --·· •••• 86 --·· 84 Pitts United Traction------5 1041410414 ___ _ ·--- 109 109 ··-Potomac Valley_ . _______ __ 5 ____ --·· ___ _ ·-·· 1081210812 --··-·· 105 105 ·--- ·--- ···- ···--·· 1161211612 •••• --·· 11714 11714 Raleiirh & Aua:usta--------6 115 115 --·-·-- ·-·- ----11612117 --·Raleiith Water 1st 1917 _____ 6 ___ _ ---- 971s 9713 ·--Rich & Danville-deb 1927-5 ___ _ 1081410814 ·-·· ·-··--- ---- 106 106 1061410612 ·--- --- 10514 10514 ·-. - - - - - ••• Richmond Traction--------5 ___ _ •••• ·--· ···- 104 104 --·---- 104 104 ---- ---- ·--Richmond-Washinirton ____ -4 ___ _ -··· 9914 9914 ·-·--·· ·-·---- 1001210012 ·--St LIM & S-River & Oulf-4 ·-----· 89 89 ··-Sanford & S Petersburit----4 ___ _ --·· ·-·- ---· ·----·- 9412 9412 ·--Sav Fla & West lst--------5 ____ ·-·- ___ _ --·- -·-- ---- ---- ---- ---- ·--· 1271212712 ··-· ---· --·- ·-·· 1121211212 1121211212 -----·· 128 128 1st 1934----------------6 1271412714 ---- --·- 12815 12813 128 128 12812 12812 --·- -·-· ·-·- ---- --· - ·-·· ·--- --·· ···- a Guaranteed by Columbia Gas Co. a nd Ctncm natl Gas Co. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis b •••••••• 106 G uarantee d by Colu mbla Gas & Electrl c Co. BALTIMORE BONDS AND STOCKS. 129 BALTIMORE BONDS IN 1909-CONCLUDED. BONDS. Janua'f1/ Fmua,11 Morch AprU Ma.11 June Jw11 Augu,t SepUmber Oaol>n November D«eml>er LofD High LofD High Lota Htgh LofD Htgh Lou, Htgh Low High Low High Low High Low High LmD Ht.oh Low High Low Htg'/1 -------------1---- ---- ---- ----- ---- ---- ---- ---- ---- ---- ---- ---Seaboard Air Line---------4 Stf,lmped-------------- -- 4 10-year ______________ : . 5 S-year ----------------- 5 4% Certificates (N. Y.) ___ 4 4 % Certificates (Richm >--4 4 % CertificateS-------- -- 4 Adjustment ____________ 5 Seaboard & Roahoke-------5 Sil Springs Ocala & G----- -4 SomersetCoal equipt _______ 5 South Bound------- --- ----5 Southern-1st consol------5 St Louis Division ________ 4 Suffolk & Carolina ---------6 Tacoma Gas refunding _____ 5 Toledo Street _____________ 5 Toledo Traction ___________ 5 Twin City RT cons 1928----5 Underground Electric of London income ---------- 6 Union EL & P St Lou ext ___ 5 United Elec Lt & PoW--- -4 ½ 6312 657s 643s 661s 647s 687s 6734 75 75 ___________________________________ _ 9534 9712 9534 9614 96 9434 9714 95 9612 96 ---____ ------- ---____ ---____ ---__ __ ------- 10534 10578 108 8512 84:14 ____ 8812 ____ 88 ____ 9034 ____ 89 ____ 9034 ____ 8912 ____ 90 _. _ _ _____ •• _ ____ 83 ____ 8312 837s 8312 86 ____ 85 9612 9634 99 9812 9912 99 9634 9634 9812 9814 9934 99 ---- ---- ---- ------- ---- ---- ------- ---- ---- ---109 108 108 91138 99 100 100 101 9934 9U3s 9914 9918 99s8 9918 99 ___._____________ ---- ---- ---- ---- _ _ _ 8312 8434 8314 ____ 703s 100 991 2 ------84 707s 9914 9g1 2 ---8114 7912 6734 9934 991 4 ____ 8114 82 703s 9834 9838 SOis ---79as 69 993s 991s 8312 ---84 1012 991g 9858 -- - ---831s 9912 • 9914 ------8434 1014 7334 - - _- 95 ___ _____ 1081210812 ___ _ ---- ________ ---- ---- ---- ---________ lO0lsl00ls 1001s1001s ___ _ ____ ___ _ ___ _ __ __ 60 _ ___ 106 ---- 89 60 106 ___ _ 89 ------- ___ _ ---- 63 63 99 99 --- - 95 ---- ___ _ ---- 9912 9912 ---___ _ 99 99~s 9934 ___ _ ---- 99 ------- 106 106 ------- 106 106 ---________________________ 3312 3312 ___ _ 100 9414 United RRs of San Frans f _-4 ____ United RY & Electric- _____ -4 851s Income _______________ -4 51 Funding _______________ 5 781s 100 95 ___________________________ _ 93 9412 9514 9512 ________ 9312 74 74 7512 77 ____ 841s 861s 8614 88 87 8812 8712 5118 521 4 521 8 54 54 563s 551 8 781s 791s 7914 80 7912 81 80 93 93 93 93 9312 9312 9234 93 9212 9234 92 92 _ _____________________ _________ _ 8634 8812 88 8834 8712 8814 863s 8812 85 8612 8612 8712 57 59 5814 5912 58 5914 58 59 5734 62 60 61 8212 857s 8514 8512 85 86 8312 8514 8334 8412 8334 8514 Car Trust 1912 B- ------- 5 ____ ____ _ __________ _ Vacuum lee Bait City lsL-6 ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ 712 712 Va RY Elec & Devel lst-----5 ________________________ 1021210212 ________ ---- ---- - --- ____________________________ 102 102 1021210212 857s 521 4 7912 9312 ____ 8812 59 81 ________ ____ 86 t!7°s 56 577s 7934 83 ____________________ l005s 10058 Virginia i\1.idland2d Series 1911-----------6105 10514 10314 10314 103 1033s ________ 1033sI033s 1035gI03°s 103121035s 3d series 1916 ___________ 6 ________________________________ 1101411014 ---- ---- ____ ____ 4th Series 1921-------3-4-5 __ __________ ____ 1061210714 ____________________ ---- ____ ____ 5th Series 1926----------5 108 108 1081 1os1 10812 I08as ________ 10834109 _________ _______ Wabash-Pittsb TermlnaL.-4 ____ ____ ____8 ____8 ____ ____ ____ ____ ____ ____ ____ 4412 4412 Wash Bait & Annapolis _____ 5 ________________________________ 70 70 ____ 6912 6912 Washlni.tton TerminaL---3½ _____ ____ _______ 92 92 ________________ ---- ---- 92 92 Western Maryland 1952 ____ 4 8312 8514 83 83 8312 8312 84 841s 8514 865s 841• 8412 8614 871s Oen and convert 1952---- 4 ________ 72 7212 ________________ 73 73 ---- ---- ---- ---Western No Car--cons-----6 1071410712 ________ 108 108 ________________ ---- ---- 108 108 Western Pacific 1st ________ 5 ____________ ---- 953s 953s ---- ---- ---- ---- ---- --- - ---- ---West Va Central 1st-_. ___ .. 6 1021 2 103 10212 10234 10234 10234 10212 102ss 1023s 10212 1023s 1025s 10212 10212 West Virginia & Pittsburgh.4 ____ ---- ____________________ ---- ________ U712 9712 ---- ____ Wilming Col & AuK-------6 1023s 103 ________________ 1013410134 ________ --- - ---- 10113 1011s Wilmington & Newb lsL--4 ________________________ ---- ---- ________ 9634 9634 ---WllJning « Weldon 1935 •... 5 112 112 114 114 11414114121131211312113121135s 1131211311? 113 113 19"35 -------------------4 9812 9812 ---- ---- 100 100 ---- ---- 101 101 100 100 100 100 10312103121033s1033s 10134102 10112101121011s1011s ____ _ _______________ ---- ____ ---____ _ ______ __ __________________ _ 109 109 109 109 10712109 101121071210612107 _______________________________________ _ ________________ 70 70 5912 60 ---- ---________ 9114 9114 ___ __ _______ ---- ---- ---855s 8614 853s 853s 8312 8312 831s 8412 857s 857s 69 69 ________ --- - ____ ---- ---- -- -- ---________________________________ 106 106 ---- ---- ---- ---- ---- ---- ---- ---- ---- ---10214 10214 1017s 10214 101ss 10134 101 10114 10114 10134 ____ _ ___________ ---101 101 ____ 101 101 ____ ___ _ ---- ---________________ 1131211312 112 112 111 Ill ---- ---- ---- ---- ---- ---- ---- ---- ---- BALTIM ORE STOCKS lN 1909. STOCKS Januar11 Fw-rva.111 March Aprtl Ma.11 June Jul11 Auamt September October November Deuml>n Prtce per share, not per cent. Par Lou, Htgh Low Ht{Jh Low Ht.{Jh Lou, Htgh Lou, Ht{Jh Lou, High Lou, Htgh Low High Low Ht{Jh Lou, Ht{Jh Lou, Ht{Jh Low HlgA ____ ,____,____ ---- ---- ---- ---- ---- ---- ---- Alabama Cons Coal« 1.-.100 35 35 ________ 30 35 ____ _ ___ 35 35 Preferred -------------100 70 75 ____ ____ ____ _ ___ 6014 iO American Caramel preL- . 100 ________ ---- ---- ------ - ---- -·-Arkansas Okla & West ... 100 ---- ---- ---• ---- ---- ---AtlanticCoastLine(Conn) 100245 245 248 270 260 265 265 285 280 285 290 294 Atlantic Coast Line RR--. 100 ___ ____ _ 121 121 ____ ____ ____ ____ ____ Preferred ------ -------100 ____________ ---- ---- ---- ---- ---- ------Baltimore Brick--------- 100 312 4 ____ ____ 312 312 214 334 3 4 3 4 Preferred _____________ 100 25 25 ____ ____ ____ _ ___ 25 25 25 25 Baltimore Electric. Pref _________ ____ 3712 3712 ____ ---- 38 38 ________ ---- -- __ Baltimore« Ohi0-- ------ 100 __ -__ Cabin Run Coal---------- -- 50 50 - - -Canton Co --------------100 ____ 90 90 90 90 95 95 ---Charleston Cons RY G & E . 50 ____ 29 29 ___ _ Comas Cig Machine ------ 100 ____ 6 6-34 ---634 712 9 14 Preferred __ . _________ _100 ____ 40 40 ______ - _ _ ___ - - - Consolidated Cotton Duck-50 67s 77s 6 6 612 712 612 612 612 8 71? 734 Preferred --------- -- ---50 2434 2512 22 24 2212 24 2312 2312 2212 25 24 ~ 2434 Cons Gas Elec L & Power-100 32 35 3112 3112 30 30 3112 33 35 4212 - - -- ____ Preferred ____________ -100 78 85 77 7712 7712 7712 7712 85 Consolidation CoaL------100 91 9412 9412 9412 9412118 115 118 When issued __________________ ____ ___________ ---- 7412 83 Fairmont & Clarks Tr pref.100 Frederick Turnpike- ------20 Oeorites Creek Coal & 1---100 Georgia & Florida -------100 Preferred ________________ ____________ ---- ---____ ____ 3 3 3 8312 85 8312 8312 85 ____ ____ ____ ____ ____ ____ ____ ____ Oeorgia Southern & Fla--100 2112 2112 2112 2112 831? 89 8114 97 · 65 ---- 9712 99 112 2412 3514 88 94 ---- 7 2134 37 87 9112 ---- ---- ---- --- - ---3 85 90 ____ 9 ____ ____ 18 ____ ---- 25 25 ____ 95 95 9412 96 95 6934 70 ____ ____ ____ ------- ------- ---________ Norf & Portsmouth Trac .100 ________________ 1514 1614 Norfolk Railway & Light-100 1ss8 19 1s18 19 19 201 8 Northern Central - - --- ----50100 111 103 105 104 106 85 85 93 ---914 934 18 1s12 35 95 93 78 ---____ 1012 1914 35 95 78 ---- ---- ---9012 95 95 ------95 95 95 714 2312 37 88 9812 612 612 21 2112 37 37 8412 88 99 100 ---- ____ --- ---3 1814 30 1912 71 38 ---3 19 30 2Lls 75 4014 ---- ---- ---28 17 73 37 ---28 19 77 37 18 76 38 ---____ 19 76 39 ---- 1134 125s 11 1212 1234 143g 1112 1214 117s 1234 127s 1434 ---- ---- ---- ---- ---- ---ss 6 214 111 3 5 20 38 80 99 2 21s 814 87s 39 40 ---- ------- ------- ---97s 12 80 8412 187s 187s 20 20 1051210812 ---- ---- 114 114 ---- ---- ---3 3 1814 1814 17 1712 ---- ---- --- 18 19 17 19 74 76 ---3814 3912 35 3812 .0614 3s .0614 .0614 13 141s 13 14 131s 1414 1312 1414 ---- ---- ---- --- - ---- ____ ---- ------- ---- ____ ---- ____ ---- .... 63s 11 ---- ---- 101 5 6 22 __ __ 20 38 37 37 35 86 82 8234 80 ll0 10712115 110 ---- ---- ---- --- ---- 763s 76/ls 7612 ---- ---- ---- _______ _ 95 ---- ---- 95 95 95 95 99 125 - - -- 1034 11 11 1312 ___________ _ 30 30 9712 96 96 ___ __ ___ 93 9412 9412 941? 73 75 ________ 76 76 ~ 212 212 212 212 214 214 71s 834 814 10 83s 91s 39 39 39 41 39 3934 ---- ---- ---- ---- ---12 12 ---- ---____ ---- ---- --- - ---- --- 20 20 25 25 ---- ---- ---- --- _ - ------ ___ _ ---- ---- ---74 74 73 73 72 75 7212 1212 ________ 7412 75 1612 2034 2034 2134 21 2112 2012 2012 ___ _ ---- ---- ---21 21 22 22 2112 22 21 2114 2012 21 _____ ___ 105141061210512107 106 107 104 10514105 106121043410914 Parkersburg Branch -------- ____ ---- --- - - --- ---- ---- --- - ---Radio Telephone ___ ________ 25 2712 ___ _____________________________ Reisterstown Turnpike-----6 ____ 3 312 ____ ____ 4 4 ____ ____ Seaboard Air Line-------100 15 15 ________ 1314 1314 15 151s 151s 1814 Preferred -------------100 ____ ____ ___ _ ____ ____ __ __ ____ 2312 2312 The Seaboard Co---------100 131 2 15 1134 131 2 1212 15 1412 16 1434 21 1st preferred----------100 ________________ 48 50 50 65 6412 73 2d preferred- _________ -100 24 2512 2234 24 2312 27 27 30 30 4012 Rights ------- - --- ----- ----- - ---- ---- ---- ------- ---- - - -United RY & Electric------50 IO 101 2 934 10 10 111 2 11 123s 11 1212 Safe Deposit receipts--____ 10 1034 10 10 10 1112 1114 1212 1112 1258 U S Steel Corporation----100 ________ 491s 491s ____ _ ___ Viri.tinia RY & Power .---- 100 -- ~---Wash Bait & Annapolis-- 100 ____ ____ Western Maryland--------50 10 11ss 10 125s 10 11 10 11ss 10 1412 Certificates 3d paid------- ------- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ---- 30 35 40 40 ---- ---- -- - - ___ _ 70 6912 7134 7134 7134 ________ 65 65 ---- ---- ---- ____ ----100121001210014101 ---- ---- ---- 712 712 734 734 -- -- ___ _ 28212305 307 330 3221232212315 335 335 34212335 360 ---- ---- ---- 137 137 13e12138 134 13612 ---- ---- - --- ---- ---- ---- ________ 125 125 __ __ ___ _ 4 4 3 312 312 312 ____ 312 334 312 312 25 30 ---- ---- ---- ---- ________ 27 27 30 30 3912 3912 ---- ---- 3934 3934 ____ _ ___ 40 40 ----1161211834 - --70 ------- 6 24 3514 8712 8814 87 91 93 9112 ---- -- -- 1st preferred----------100 ________________ 2d preferred-----------100 68 6934 6934 70 Oottlieb Bauernschmidt Stra' Brewing voting trust ctf 100 31 2 312 ____ ____ ____ ____ 212 234 21s 21s 2 2 Houston OiL------------100 s1 2 10 71 2 9 734 914 8 912 834 912 712 9 Preferred -------------100 40 45 ________ 3514 3812 3712 4012 3734 41 38 38 Imperial Bottle & CM ------ 1 I ---- ---- ------- ------ -- ---- Maryland Amuse't Co, Inc-- - ---- ---- ---- ---Maryland & Pennsylvania.100 ____ ______ ______ Maryland Del & Va pref._ 50 ---- ___________ _ Mer & Miners' Tran tr ctfs.-- 1212 721 2 1212 73 ---70 ---- ---- ---- ---- ---- ---- ---- ---- 2 21s _______ _ 81 4 834 s1 8 91s 39 4012 3912 43 ------___________ _ 1212 14 14 17 85 85 86 9012 ________ 19 21 ________ 1912 1912 105 10612105 12112 ___ _ 15 25 1734 7314 3514 ---13 13 17 28 193s 75 3814 - --1414 1412 19 3112 19 75 3534 --- 1334 141s ---- 20 3 2412 35 2814 811., 48 ~ ---1412 145s _ _ _ _ 1714 3212 a2612 2612 a 4th paid. CHICAGO BONDS AND STOCKS. CHICAGO BONDS IN 1909. Ju,u .Ap,U Janua,11 P'dJTtlaT1J Marth Mau .Augun September Jw11 oaober Nooembel Deambt1r Low H&qh Low Htgh L<no H&qh L<no H&Qh L<no Htgh L<no Htqh L<no H"1h Low Htgh Low Htgh Low Htgh Low High L<no H"1h BONDS. ---- ---- ---- ---- ---- ---- ---- ---- ---- -- RR. & MISCEL. BONDS Armour & Co 4½s------- ------ ------Booth Fish Co Deb 5s ___ 1917 ---- -- -- - ------Do do ---1924 ---------Cass Ave & F O (S.t L> 5s1912 ...... - -- -- 101 10114 ---- ---Cal & So Chic RY Co 5s-- 1927 10212 10212 -City Railway 5s--------1927 10414105 1041210434 104141045s 1041410412 Chic Cons Tr 4½s----- - 1939 ----- -- 50 50 9514 9512 Chic Jct Rys 4s------------ ---74 72 7312 73 7312 7412 Chic Pneum Tool 1st 5s- 1921 7212 74 Chic Rys 5s---------- -- 1927 102 10234 10112 102¾ 102 10212 102 1023s Do 4-5s, Series "A" -1927 9312 953s 937s 9514 9478 9514 947s 95 Do 4-5s, Series "B" .1927 8434 8512 85 8912 855s 8912 8734 8838 90 90 9012 9012 9012 89 Do 4-5s, Series "C" -1927 89 89 Do Colla feral 6s ----1913 1011s 10214 102•s 1023s 102 10214 102 102 r Do Fun din st 6s- ____ _1913 1021s 1023s 1021s 1021 8 ---Chicaito lb Temp ctfs 1st 5s 102 10212 102 102 1017s 1021s 102 1021s Chic Tel 5s- - _- _- - - - - - - - - - - 1033sl037g 1031s 10334 103 1033s 10314 1033g 95 95 Cicero Oas 5S---- ------------- 103 10314 103 10314 10318 10314 Comm Ed 5s ----------1943 ---Chic Edison 1st it 5s----1926 101 10114 1011s 1011s 1011410114 101 1013s Deb 5s --- - _-- -- --- --- - - _ 101 1021s I013s 1013s 1015g 10134 1011210112 Commonwealth Elect 5s-1943 10234103 1027s 1031s 1031s 10314 1031s 10314 Cudahy & Co 5s--------1924 ------- ---98 98 Kansas C Ry & Lt Co 5s-1913 --- - ---- - - ---- ---96 96 96 96 Knickerbocker Ice 1st 5s.1928 95 96 Lake St Elev 1st 5s ____ -1928 73 81 84 84 80 85 90 90 841s 85 845s 8612 8514 8512 MetropWSide Elev 1st 4s 1938 83 85 Extension gold 4s - ----1938 83 831 2 8212 83 14 83 8412 84 841s Morris & Co 4 ½ s- -- --- - 1939 --- - ---- ---- --- - -- -- ------NW Oas Lt & C 5s--- - -1928 ---- - - -- ---- - --- ---- --- - ---- ---933s 9412 9412 96 961s 9612 North West Elec 1st 4s __1911 9214 95 95 9512 96 9712 Oitden Gas 5s- ---------1945 93 9412 9418 95 Pearson-Taft 5s ----- - --1916 ---- -- -- 1001410014 1001210012 ---- ---4.40s __ __________________ 9758 975g 9634 9712 97 98 ---- ---4.60s Series E------------- --- - ---- 9934 9934 9912 997g 4.80s Series f _____ ________ ---1001s 1001s ---- -- -12134122 People's Gas L&C 1st 6s-1943 120 120 Refunding gold Ss-----1947 103 1031g 10314104 10312104 10312104 Chic Gas L & C 1st 5s--1937 104 10458 104 10414 104 1043g 104 1043s Consumers' Gas 1st 5s-1936 ---- - -- - 102 102 1021s 1021 8 10212 10212 Mutual Fuel Oas 1st Ss--1947 ------- 10112 10112 102 102 South Side Elev 4½s ____ 1924 9412 9514 947s 953g 951s 9614 96 9684 Swift & Co 1st gold 5S---1914 10012·101 1001s 1011 2 10112 102 10118 1017s 95 - --- ---- 9412 96 95 Union Elev (Loop) 5s ___ 19f5 92 95 United Box Board Coll 6s -- - - 70 70 ---- - --- -- -- ---- -- - - --Do do Oen mtit 6s ---- ---- ---- - --- -- -- ---- ··--- ---- ---------- 9614 967s 9514 961s 951s 9514 9312 9434 9314 93°s 9312 9312 9312 9312 93¾ 94~4 ---- ---- ------ ------9Q ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- 90 90 ---- ---- 90 8934 8934 ---- ---- ---- ------- ---------------------------------1011410114 ---- ---- ---- ---- ---- ---- ------- ---- ---- ------- ---- --- - --- 102 102 -104 10412 10312104 1035s 104 1031s 10334 103 1035s 1023410312 102341033s 103 J03I . ---------- ---- ---- ---- ---- -- -- ---- ---- ---- ---- ---- ---- ---- --- - 9412. 941z: ---- ---- ------- ------ ---- ---- ---- ---- ~ 7312 7412 1013s 1021s 9418 95 8414 88 ---- 1013s 102 7412 7418 1001s 1013s 947s 96 8612 8712 8912 90 1013s 10112 - --- 1011410114 103 10314 103 103 10314 101 10114 1013g 1013g 103ts 10314 747s 773s 1011s 1015s 9614 96 8634 873s 8012 78 101 10112 95¾ 9534 8414 86 9214 92 1011210134 1011210112 1011210112 1011210112 ------- 101 10114 1011s 1013s 101 10114 1033g 103 1033s 1023410314 1027s 1031s ---- 10212 1031s 10034 10114 10114 10114 10234 10314 9814 9812 9812 9834 1025g 1027g 10212 1027g 10034 10234 10018 101 --- - -- -- 1005s 1005s 10234 I027s 10234 10234 9912 9934 9912 9934 ---- ---- -- -- ---- - --- - --- ---- ---- - - - - - --- ---- 9012 90 91 90 83 81>7s 8334 85 84 84 837s 837g ---------- 9434 9858 ---- ---- ---9512 9612 94 9512 94 9714 98 95 98 97 ---- ---- ---- - --- --- 90 85 ---- ---·--99 77 7934 1011s 10114 9512 96 8614 87 99 98 ---- 90 84 80 85 1005sl015s 95 9534 85 8612 91 9112 1011s l0llg 8412 851s 1001s 10114 953s 953s 85 86 91 91 1001s 10114 84 l0ils 95 85 91 101 85' l0llz 95 86 9134 101 ---- 10114 10114 10034101 1011g 1011g, 1021s 10318 1027s 1031s 1031!! 10314 102121027g 102121021s 1021210234 1025s 103 1001210012 1003s 1003s 1001s 1001 8 l0U 100 ---- 10234103 10212 10212 1023s 1023g 1025g 1025g 995s 995s 9912 9912 9912 9934 ---- --- ---- --- 9614 96¾ ---- ---- ---- ------- ---- ------- ---83 8312 845s 83 --- ---- ---- 8112 9434 9214 93 9234 99 98 9814 -- -947s 9414 9614 9-412 97 9512 97 9614 - ---- ------84 84 85 84 83 833s 8212 8414 8112 ---- -- -- 8012 8012 9212 93 9212 9234 92 9512 93 9614 95 --- ---- ---9512 94 95 96 95 95 8212 807g 925s 98 947g 941s 8312 81 933s. 11834 9614 95 ---- ---- ---- -- -- ---- -- -- ---- ---- ---- ---- ---------- -- -- ---- ---- ---- ---- ---- ---- 96 96 ---- ---98 --- - ---- ---- ---- -- -- -- - - ---- ---- ---- ---- ---- ------- ---- ---- ---- -- -- ---- ---- ---- ---- ---- ---- ---- ---- 12134 12134 10314 10334 1031s 10312 10338 1031 2 10314 1033s 104 1043s 104 1043g 10414 10414 104 105 1021 8 1023s 1021 4 1023s 10214 10234 ---- --- ---- - - - 102 102 9638 965g 9514 9512 9412 9512 1011410134 1011s 10112 - -- - - - - - 1011s l0lls 95 96 95 95 - - -- -- - - - --- --- 75 75 8012 78 80 7034 75 77 7014 77 77 81 79 79 80 77 1031410334 1031s 1033s 1021s 103 103141031:1; 10334 104 104 1041s 104 1041s 10411110412. 1021s 10214 102 1021s. ---- -- -- 10214 10214 1017s 10118 10112 102 -- -9414 9412 9312 9434 94 941 2 9312 94 100 100 100 10034 100 10012 100121001 2 88 ---88 - - -- ---- ---- ---75 801z80 79 76 79 S0•s 81 78 80 78 80 ------- ---- ---- ---- CHICAGO STOCKS IN 1909. STOCKS. Marcfl Apra Januar11 Februa,11 Ma11 I June September October Nooembn Decembe-r Auomt Jul11 Par. Low Htgh Low Htuh Low Htuh Low High Low Htuh Low Htgh Low Htuh Low Htuh Low Htoh Low Htuh Low Ht11h Low Htoh RAILROAD STOCKS . Chicaito City Railway ____ 100 Do Part Ctf Series 1 _____ Do Part Ctf Series 2 ----Do Part Ctf Series 3 - - - - Do Part Ctf Series 4 _____ Chicaito & Oak Park -----100 Do preferred ________ - 100 Chicaito Subway _________ lOO Chicasto Union Traction--100 Do receipts----- -------Kansas City Ry & Liitht-100 Do preferred ________ _100 Metrop w Side EleV----100 Do preferred _________ 100 Northwestern Elevated---100 Do preferred __ _ ------100 South Side Elevated- __ . -100 Streets W Stable Car Lines100 Do preferred _____ ____ 100 -- --- ---- ---- ---- -------- ---- ---- ---- ----- - - - - ---1847s 185 113 11534 4412 4534 211s 30 13 1312 3 4 9 1212 26 2914 ---6 3912 79 17 47 21 63 50 297s 9712 185 190 112 113 43 4514 283s 29 1212 13 _312 312 12 1314 25 27 180 180 ll0 111 40 4314 27 2812 10 12 334 4 1012 12 25 2814 61g 61a ---- ------___ 634 ------37 3934 35 38 ., 80 17 50 23 65 56 305s 9812 79 17 47 49 49 2212 2234 2134 64 65 65 50 55 55 297s 307g 30 9712 9612 97 79 80 ---- ---- 180 180 1091211012 3812 41 27 28 10 1012 312 312 1012 1012 2512 2712 ---------4212 4134 80 19 537s 2212 6912 60 3012 98 10914 ll0 107 38 39 36 26 28 91s 9 97s 312 312 ;~ 13 12 2514 2812 24 10712 ll0 3812 38 25 1014 912 214 3 10 ---2512 16 ll912 4012 27 101g 212 10 2214 - - -- 185 1S5 ll0 110 10934 Il0 103 108 98 1001 2 977s 109 <$0 391,t 3712 35 3634 315g 35 37 381s 36 20 lU!2 19 24 24 2412 2412 20 2412 25 10 8 9 812 10 9 9 9 - --- ---23s ---- ---- 134 212 112 134 -- -- - -- - ll2 ll 7 7 7 5 5 --- -- -41p 734 19 24 612 1934 434 9-~g 314 58s ---- ---- ---- ---- -- -- ---- -- - - -- -- -- ----- ------------- ---- ---- --47-- -----48-- -- -- ---- --- ------51 52 48 50 4812 51 49 40 4934 40 8112 8314 1734 19 50 51 2112 2312 6914 70 5512 57 2914 3312 97 100 8314 8612 85 8534 16 1712 50 54 50 52 24 25 6912 73 6912 6912 5312 57 56 61 3214 4734 4812 5134 10212105 105 10712 841:i- 85 16 18 49 47 2012 2012 69 70 54 57 437s 50 10112 1037g 8112 841s 1512 1734 48 49 20 20 70 70 5512 57 41 471s 10312104 - --- -- - - - --- . - -- ---- - -- -- -- - - -- --:{()-- ---421,t 42 82 80 8112 82 151s 1734 1612 1612 48 5134 5012 5312 ---- ---- ---- ------- ---- -- -- 37 8012 1612 5112 17 41 83 78 18 1612 5434 5112 17 18 -- -- - - - - 781z 191z 59 18 -- -- ---- 53 55 4684 5234 52 5234 51 44 43 4784 47 47 483s 46 10212 10212 102 10212 10112103 105 56 541z 108 MISCELLANEOUS STOCKS. American Can ___________ 100 77s 914 8 914 1514 131s 143,t 8 834 83s 1134 101s 1412 113s 135s llls 1212 121s 1312 121s 133s ll3s I33s 12 7384 763s 7414 8014 7812 8314 805s 86 8014 8312 8212 8512 8134 84 8214 8514 8012 85 81 85 Do preferred _________ 100 7134 735g 72 77 202 202 merican Radiator ______ 100 200 20012 202 202 -- -- 210 210 212 21212 21212 22514 ---- - --- -- · - -- - ---- 203 203 130 132 Do preferred _________ 100 128 128 128 128 128 128 12s18 129 12·s12 12s1s 126 128 128 132 132 132 -- - - 130 130 ---57 5512 541s 5512 55 6012 58 6714 65 58 55 6012 60 6734 63 6512 66 6712 67 68 67¾ 8113 erican Shipbuildinit---100 5714 59 preferred __ ____ ___ 100 104 105 101 105 106 106 10412 10412 104 10814 108 110 10712110 108 110 11014112 110 111 110 111 ll0 11112 22 29 2912 -- - 27 an Strawboard---------- - --- --- - -- ---- ---- ---- ---- -- ---- 139 ---- ---1425s 13912 14434 13912 1435s 14014 145 13912 14334 ran Tel & Tel CO----- ---------- ---- ---24 40 2234 2534 25 ~isheries COm- _______ B ---- ---- ---- ---- ---- -- -- 10 11 10 1634 1514 1612 16 27 197s 24 20 23 20 24 23 20 35 Vot'g Tr Ctfs -- --- do ------- ---- -- -- --- - ---- ---- ---- ---- -- - - -- -- ---- - --- -- -1 48 52 5512 62 Do do pref_ _______ 52 55 54 58 58 6314 6714 6412 7512 57 6112 65 4 ---- --- 3s- -- -- -- -- - --- 3g 12 ls 12 1 --- - - --3g ---- ---34 -- - - ---Booth (A) & Co- - ------- 100 ---- -- -- --- - -- -- ------- ---- ---1 234 34 2 os 158 12 21s 1 214 -- - - -- -- - Do preferred ______ - __ 100 134 5 ---- -- -- -- -- --- - ---- --- -----5312 57 57 5312 58 5514 54 5112 54 58 55 5312 5512 54 54 5312 5412 5i12 54 537s 5512 53 Cal & Chic Canal & Dock-100 5114 56 ] 1 ---- ---I l 1 Chic Brewinit & Maltinst------- ---- 1 -- - - ---- -- - - ---- -- -- - --- 1 1 ------21g 21g ---- ---- ---- ---- ---- ---21s 21s ---- ---- ---- ---212 212 Do preferred------------ -26- -iiis 25 2614 21 23 23 25 24 2212 24 21 25 23 2512 3912 38 3912 3d;t 42 34 3112 3314 30 Chicaito Pneumatic Tool--100 Chicasto Telephone ____ ___ 100 127 128 1271213134 1293s 134 132 13334 132 134 13212 134 132 134 134 136 13514140 136 138 135 137 13-1 138 142 151 144 142 122 121 12514 125 12612 127 140 140 152 14312 147 143 146 11712126 11912 138 133 Chicasto Title & TrusL---100 117 11912 Commonwealth Edison------ 107 10812 107 10834 108 1117g 1111211412 114 11912 11712 121 11912 12112 1191212114 11934 12114 11914 121 ll8 11934 117 ll912 150 150 150 150 149 146 146 149 146 146 Congress HoteL - __ - __ - _- - - - - - - -- -- --- - -- -- -- - - - ---- -- - --- -- --1914 2314 24 241s 2414 2414 231s 2314 2314 251g 22 241s 2012 235g 2114 2312 2018 233s Corn Prod Ref Co com ______ 18°s !l05s 111s 197s 1714 19 7014 773g 79 Do do pref ____ __ 75 765s 7312 76 81 8614 8614 8812 8812 ---- ---Diamond Match---------100 117 12234 120 12414 121 12212 121141225s 1223s 129 12412 129 12614 130 129 13034 12634128 12612129 125 128 1247s 121 Elgin Watch Co ____ ____ ___ _ --- - --- 162 162 - - ---- ---------- - --4812 -- -- - --- ---- -- -- ---- -- ------------40 40 4212 3812 4014 40 461 2 51 42 53 5012 60 58 69 6012 69 49 Illinois Brick- __________ -100 38 41 3914 41 6712 ss1z Masonic Temple ______ - -- ___ 43 43 44 45 4312 4312 -- -- ---47 47 45 45 44 4512 ---- 44 44 ---- -- -- ---- -- - - 93 93 Il0 110 Michigan State Tel Co com ___ ---- -- - ---- --- ---- ---- ---- ---------------------20 21 21 -- -20 Milw & Chicago Brew pref- __ ---- - --- ---- 2012 2012 ---National Biscuif- ________ 100 977g 109 100 10412 1011s 106 1031210612 104 108 10514107 104 10712 106 109 10612 11914 113 117 114 11634 11414 11814 Do preferred _________ 100 119 120 1181412012 119 12234 12112 124 122 126 121 125 124 127 12334 127 125 130 125 127 124 127 12012 125 92 83 87 8512 86 82 861s 85 90 94 90 9212 99 87 95 97 97 100 9534 97 97 10812 National Carbon __ -~- ____ 100 82 86 Do preferred _________ 100 110 112 11012119 119 11912 119 120 118 120 116 118 11734 119 118 120 1181211914 119 120 120 124 120 12313 People's Oas Lt & Coke--100 102 ll0 107 ll412 1091211434 113 118 11412 1161s 11214116 ll41g ll634 115 1197g ll414 11634 ll414 l16l 2 113 11614 1127g 11612 12 34 12 1 -- -- ---- ---- - - -- - --- - --- ---- - --- -- -- -- -- ---- - - -- ---- -- -- -- -- ---- ---- ---Do Rights---------- --- 5712 7112 69 80 7634 88 9234 95 9134 98 8734 95 97 10414 1011212114 1171214414 13712 14234 1411216912 Sears-Roebuck common __ 100 55 60 105 112 10814 ll134 109 11312 11334 1153s 113 116 112 ll6 I14 11634 113 ll61s 116 12134 120 1207s 120 12134 10512 Do preferred ---------100 101 Swift & Company ________ 100 100121013g 1013410234 1013s 103 1027s 10412 1035s 110 107141117s 108 109 109 11414 109 1113s 108 110 10814109 10814 11212 Do _ Rights __________ 11 20 6 13 The Quaker Oats Co-----100 ll9 130 12712130 128 130 130 13212 12712132 130 132 135 152 14312150 144 146 144 150 149 161 160 162 12934130 128 130 135 150 12014 12014 ---- 145 149 146 147 155 15812 155 161 Do rcts ---------------Do preferred ______ - __ 100 9812100 100 10112 9934101 100 10134 1003s 103 101 10212 10134 10212 102 10312 102 103 10112 10234 1021210412 103 105 1 34 1~8 34 lls 112 15g ---- ---- ---Un Box Board & Paper Co 100 ---- - -- -21s ____"8 Do 3d assessment pd ___ _ 21s ---- - --- -------- --- 27g 31g 214 3 Do full paid- ____________ ------------- ---- ---- - --- -----334 8 734 734 ---Do preferred ________ -100 412 919 412 5 ------- --- ---- ---- ---Do 3d assessment pd ____ 103s IO¾ ---- ---- - --- ---- ---- ---- - --- -- - --- ---- ---- ---- - --- ---- 171! 1458 Do full paid- ____________ 121s 121g 1112 12 1012 1534 14 1534 1312 1512 14 163s 145s 1534 1312 147s 131s 16 15 1612 1534 20 20 . 20 20 20 1614 1812 185s 20 Western Stone __________ 100 ---- 15 15 15 25 22 25 2212 2334 22 22 18 1912 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ----------------------- --- -- ---- -- ------ ---- ---- ---- ---- ----- -- -- -- ---- ---- ------- ---- ------- ----- ---- ---- ---- ---- ---- ---- -- -- ------- ------- ------- ---- ------ --- --- ---- ---- ------- ------- ---- -------------- ------- ----------- ---- ---- ---- ---------------- ---------
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