Full text of Commercial and Financial Chronicle : January 12, 1907, Vol. 84, No. 2168 [Copy 2]

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

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IN C L U D IN G

^

Bank and Quotation Section (Monthly)
Railway and Industrial Section (Quarterly)

State and City Section (semi-Annually
Street Railway Section (Thready1*^

Entered according to Act of Congress, in the year 1907, by W i l l i a m B. D a n a C o m p a n y i n the office o f Librarian of Congress, Washington, D.C
A w eekly n ew spaper en tere d at P ost Office, New York, as seoond-el&es m atter—W i l l i a m B. D a n a C o m p a n y , P u blishers, 7 6 ^ P in e 8t., N. Y.

SATURDAY,

VOL. 84.

JAN U ARY

1907.

PUBLISHED W EEKLY.
T e r m s o f S u b s c r ip t io n — P a y a b le in A d v a n c e
F o r O n e Y e a r ............................................................................................ ................. $10 00
F o r S ix M o n t h s ...........................................................................................................
6 00
E u ro p e a n S u b s cr ip tio n (in c lu d in g p o s t a g e ).................................................. 13 00
7 50
E u rop ea n S u b s cr ip tio n six m on th s (in c lu d in g p o s t a g e i..........................
A n n u a l S u b s cr ip tio n in L o n d o n (in c lu d in g p o s t a g e ) ............................... £ 2 1 4 s.
S ix M o n th s S u b s cr ip tio n iu L o n d o n (in c lu d in g p o s t a g e )........................ £ 1 11 s.
S u b s cr ip tio n in c lu d e s f o ll o w i n g S u p p lem e n ts —
B a n k a n d Q u o t a t io n (m o n t h ly )
|S t a t e a n d C it y (s e m i-a n n u a lly )
R a i l w a y a n d I n d u s t k ia l (q u a r t e r ly ) |S t r e e t R a i l w a y (3 t u n e s y e a r ly )

T e r m s o f A d v e r tis in g — P e r I n c h S p a c e
T r a n s ie n t m a tte r p e r in c h sp a c e (1 4 a g a te l in e s ) ...........................................
( T w o M o n th s
(8 tim e s )................................
‘S ta n .lin sr'R n o in e s s rird s ' T h re e M on th s (13 t im e s )................................
S ta n d in g B u sin e ss c a m s
s i x M o n th s
(2 6 tim e s )................................
\ T w e lv e M o n th s (5 2 tim e s )................................

$4
22
29
50
87

20
00
00
00
00

C H IC A G O O F F I C E —1\ Jriar'lett, 51 3 M o n a d n o ck B lo ck ; T e l. H a r ris o n 4012.
L O N D O N O F F I C E —E d w a ra s & S m ith , 1 D ra p e rs’ G a rd en s, E . C.
It. D A N A

C O M P A N Y , P u b lis h e r s ,

Pine Street, Corner o f Pearl Street,
Post Office Hox 9 5 8 .
NEW Y O R K ,

CLEARING HOUSE RETURNS.
The following table, made up by telegraph, & c., indicates
that the total bank clearings of all the clearing houses of
the United States for the week ending to-day have been
$3,393,911,248, against $3,322,115,773 last week and
$3,766,616,845 the corresponding week last year.
Clearings— Returns by Telegraph.
Week ending January 12.

Per
Cent.

1907.

1906.

New Y o r k ......................................- .............

Sl.795,347,167
166,985,223
123,372,809
25,440,686
194,381,556
58,961,299
21.793.927

$2,111,566,544
155,697,373
130,069,757
25.508.679
204,156,054
57,727,591
20,150.047

— 15.0
+ 7.2
— 5.2
— 0.3
— 4.8
+ 2.1
+ 8.2

Seven cities, 5 d a y s _________________

$2,386,282,667
412,761,298

$2,704,876,045
390.148,693

— 11.8
+ 5.8

Total all cities. 5 days______________
All cities, 1 d a y _____

$2,799,043,965
594,867,283

$3,095,024,738
671,592,107

— 9.6
— 11.4

$3,393,911,248

$3,766,616,845

— 9.9

Total all cities for week.........................

The full details for the week covered by the above will be
given next Saturday. We cannot furnish them to-day,
clearings being made up by the clearing houses at noon on
Saturday, and hence in the above the last day of the week
has to be in all cases estimated, as we go to press Friday night.
We present below our usual detailed figures for the previous
week, covering the returns for the period ending with Satur­
day noon, January 5, and the results for the corresponding
week in 1906, 1905 and 1904 are also given. Contrasted with
the week of 1906 the total for the whole country shows
a loss of 6 .8 % . Outside of New York the increase over
1906 is 2 .2 % .
Week ending January 5Clearings at—
1907.
ew Y o r k .........
blladelphla___
Ittsburgh_____
iltim o r e _____
iff a l o ._______
ashington . .
ibany . .
.
ocl "'■I >r .
cranti
...
.
^raci’
_____
■lei
Wilki
Whee
Erie .
____
Che."
Bin
..
Ormnsburg . . . .
F r a n k lin ...........

1906.

Inc. or
D ec.

1905.

1904.

$
$
$
$
2,125,942,186 2,392,770,430 —%11.2 1,855,423.836 1,460,165,444
156,237,758
158,398,541
121,005,262
— 1.4
123,917,378
52,448,316
55,028,930
40,613.474
— 4.7
42,733,496
30.619,555
32,013,695
26,578.337
+ 4.6
25.468,396
7,982,586
8,521,209
6,511.533
+ 6.8
7,154.608
5.X76.453
5.248.928
6.597,799
+ 12.3
5,116,756
5,714,940
4.431,368
+ 8.5
6,201,817
4,090,910
5.398,834
— 5.9
5,082,703
3,383.565
4.765,715
2,460,776
+ 1.1
2,400.000
2,488,115
2,056.440
2,446,061
— 4.6
1,633,719
2,334,671
1.774,501
1.416.591
-2 .0
1,282,422
1,387.633
1.184.746
l,2*i8,625 + 32.4
1,000,000
1.141,867
1,679,667
1,2
V
0,906
—
16.7
1.150.969
1,058,442
978,065
+ 7-9
920,239
778.044
659.541
992,725
622.271 + 21.2
581.419
515,849
754,468
+ 2.9
593.218
475,328
592,749
610.522
+
8.6
548,900
553,600
552.500
596,200
+ 5-5
435,367
456.039
525,000 i.
497.738
+ 4.S
285,461
288,912
304,784
300,000

Total M id d le.. 2,405,772,926 2,674,124,306




— 10.0 2,078,915,936 1,687,486,683

Boston
______
P ro v id e n c e _____
H artford . . . .
New Haven _ _
Springfield______
Portland
W orcester______
Fall River . .
New B edford____
H olyoke-----Lowell ________
Total New Eng
C h ica go____
Cincinnati _
C le v e la n d ______
D etroit.
..
M ilw a u k e e .___
Indianapolis____
Columbus . _
T o le d o __________
P e o r ia __________
Grand R apids__
Dayton _ . . . . .
E v a n s v ille _____
Y ou n gstow n ____
Springfield, 111___
Kalamazoo _____
Fort W a y n e ____
Lexington _ _____
Akron
___
Rockford ______
South B e n d ..
Bloom ington____
Canton--------------Springfield, O __
Mansfield. _ .
Q uin cy. ---------D eca tu r_________
Jacksonville, 111.
Jackson . .
Ann Arbor
Tot. Mid. West.
San Francisco___
Los Angeles
Seattle _ _ _____
Salt Lake C ity___
P o r tla n d ___
Spokane .
Tacom a .
H e le n a _____
Fargo ____ . . _
Sioux Falls . . .
Oakland________
San Jose________
Total P a cific ..
Kansas C i t y ____
Minneapolis . .
O m a h a . . ______
St. P a u l.. . .
Denver. _______
St. Joseph______
Des M oin es_____
Sioux C it y ._____
W ich ita ________
Davenport__ __
Toneka ------Cedar R a p id s ___
Colorado Springs.
Pueblo _ _
Fremont . .
Lincoln ................
Tot. oth. W est.
New Orleans____
L o u is v ille ...........
Houston .
R ich m on d .
Memphis _ .
Galveston _____
A tla n ta ________
Nashville
Savannah _____
Fort W orth _____
Norfolk _.
Augusta________
Birmingham . .
Charleston .
K noxville . .
M o b ile ____
Little R ock
J ack son v ille____
C hattanooga____
M a c o n __________
Columbus, G a__
Total Southern
Total a l l .........
Outside N. Y _ .
Canada—
M ontreal_______
T o r o n to __
W innipeg .
O tta w a .. _
Halifax . . .
Vancouver______
Q uebec___
H am ilton ..
London _
St. John _____
V ictoria ......... ..
Calgary ..............
E d m onton______
Total Canada.

1907.

NO. 2168.
Weed ending January 5.

•'iiyo ut.---

© I n -c m x c lje .

W IL L iA M

12,

1906.

$
$
199,483,560 207,481,834
9,474,200
9,355,800
4,476,201
4,718,123
2,890,183
3,161,643
2,289,525
2.562,935
2,260,274
2,526,487
1,747,321
1,802,890
1,023,936
1,265,846
937,421
709,053
646,621
616.797
578,555 ______560,059
226,315,920 234,253,344
231,685,188 223,255,686
26,851,150
29,395,750
20,540,116
17,838,551
12,213,519
14,500,385
9,362,804
10,752,248
7,773,912
8,707,451
5,584,000
5,944,300
3,997,242
3,887,883
3,292,211
2,873,233
2,418,342
2,365,451
2,040,994
2.066,957
1,859,454
1,612,151
931,412
941,925
932,446
901,674
909,836
1,146,870
850,389
825,750
752,973
813,837
559,100
715,716
451,063
542,184
533,536
594,251
538,942
545,632
506,509
533,322
501,041
461.718
493,399
378,920
396,158
636,344
377,004
387,730
346.325
307.403
264,773
275.000
217,746
128.905
341,962,434 328,556,377
44,458,704
46,504,234
10,254,466
13,080,358
5,427,027
8,486,033
6,447,212
7,842,465
4,660,454
6,282,515
3,911,264
4,731,941
3,578,823
4,386,494
823,000
748,194
775,913
548,868
467,561
374,077
4,412,424 N ot included
300.000 N ot included
91,758,216
82,031,387
23,812,602
2S.624.623
18,431,670
19,600,146
8,831,389
9,803,037
6,631,372
8,609,850
6,863,425
7,030,624
5,077,805
5.176,582
2,848,493
3,247,226
1,873,293
2,179,916
1,056,844
1,052,396
1,451,326
1,479,844
839,024
873,987
794,048
864,740
856,690
706,611
477,191
393,084
273,382
263.918
1,259.082 N ot included
90,051.024
79,974,114
59,109,310
63,032,371
24,502,597
24,178,738
15,637,280
14,292,957
10.228.415
9,915,836
8,084,301
6,762,962
6.200,213
5.928.239
5,850,000
7.099,500
5,406,920
5.437,464
6,207,114
4,600,000
4,687,235
4,509,607
3,117,194
3,512,322
2,339,716
2,544,053
1,996,120
2,034.030
1,960,041
2,341,528
1.122.313
1,669.265
1.600,900
1,725,000
1,423,525
1.709,331
1,285,613
1,371.909
1,380.706
1.446,605
1,172,144
1.240.510
752.091
785.000
361.397
325.000
164,648,238
166,239,134
3,322,099,654 3,563,587,766
1,196,157,468 1,170,817,336

Inc. or
Dec.

26,14S,043 + 13.8
29,766,221
25,395,212
+ 9.2
27,738,165
9,133.646 + 37.1
12,518,212
2,307,994 + 20.2
2,773,832
2,133.525 + 19.0
2,538,249
2,063,412 + 52.0
3,136,061
1,743,367 + 15.7
2,016,322
1.626,604 + 10.0
1,790,000
1,573,279 1 + 0 .3
1.577,894
1,064,951 ! + 1 8 .5
1,261.969
667,011 + 19.9
800,204
1,481,971 N ot included in total
745,686 N ot included in tota
85.917,129
73,857,044 + 16.3

In d e x to V o lu m e 83 a c c o m p a n ie s th is is s u e .

1905.

1904.

S
S
%
178,478,895
140,008,667
— 3.9
8,055.000
9,023,000
+ 1.3
3,964.330
4,493,939
— 5.1
— 8.6
2,846,513
2,035,271
1,561,304
2.019,378
— 10.7
1,679,510
+ 11.8
2,031,099
1,004,965
1,648,850
— 3.1
+ 23.6
984,568
601,517
+ 32.2
570,257
534,668
729,477
+ 4.8
670,185
453.607
+ 3 .3
454.055
— 3.4 201,834,099
162,015,046
182,919,096
+ 3 .8
184,543,27 9
25,982,500
25,739,400
— 8.7
17,038,232
+ 15.2
21,764,774
10,308,357
11,374,187
+ 18-7
8,728,629
+ 14.8
8,118,627
+ 12.0
8,195,350
7,439,869
4,835,400
— 6.1
6,841.700
3,634,956
+ 2 .8
3,433,419
3,244,696
— 12.7
3.042,142
2,225,417
+ 2 .2
1,914,969
+ 1.3
1.774,643
1,911,936
1,519,640
+ 15.3
2,017,680
600,635
576,639
— 1.1
816,893
— 3.3
882,687
886,914
+ 26.0
907,878
______
— 2.9
792.729
+ 8.8
652,887
+ 28.0
617.000
400,000
+ 20.2
334,859
365,900
_______
+ 11.4
+ 1.2
493.005
502,045
+ 5 .3
551,016
694,871
— 7.8
445,101
501,656
— 23.2
225,687
227,259
+ 60.6
389.716
320,445
+ 2 .8
336,869
386,635
— 11.2
301.630
249.031
+ 3.9
187,468
238,043
— 40.8
114,305
109,544
+ 4.1
283,974,550 278,683,691
+ 4.6
31,999,319
31,628,828
+ 2 7 .6
7,103,292
7.750,620
+ 56.4
4,372,767
4,826,209
3,121,220
— 17.8
4,130,671
+ 3 4 .8
3,901,088
3,974,043
+ 21.0
2,392,494
2,707,236
2,226,542
+ 22.6
2,624,504
797,992
1,100,961
+ 10.0
516,392— 29.3
594,035
277,445.
+ 25.0
269,259
in total
in total
+ 11.9
37,084,542
59,220,446
24,246,17S
+ 20.2
20,131,215
+ 6.3
17,212,425
17,210,381
+ 11.0
9,030.773
8,293,105
6,837,776
+ 29.8
6,060,593
+ 2.4
5,798,749
5,129,493
+ 2.0
4,507.858
5,074,501
+ 14.0
2,753,186
2,730,337
+ 16.3
1,550,055
1,639,508
— 0.4
1,169,841
1.000.000
. — 1.9
1,649,741
1.419,018
1,210,216
+ 4.2
1,093.318
611,440
— 8.2
691,158
550,101
+ 21.2
568.870
______
399,429
+ 21.4
288,968
225,797
+ 3.6
in total
76,574,982
+ 12.6
72,508,868
61,021,493
62,446,676
+ 6.6
23,639,899
24,281,156
+ 1.3
11,257,319
— 8.6
12,171,696
9,173,566
7,361,752
— 3.1
6,591,433
— 16.4
6.000.091
6,980,460
— 4.4
6,316,563
5,816,000
+ 21.4
4,770,500
4,310,854
+ 0.6
3,842,153
3,752,96-5
— 25-9
3,754,728
4,269,74"
— 3.8
4,115,332
2.356,617
2,424,971
+ 12.7
1,720,705
1,629,489
+ 8.8
1,882,754
1,748,763
+ 1.9
1,587,350
1,651,680
+ 19.5
1,235,211
1,302,184
— 32.8
1,425,475
+ 7.7
1,449,596
_
______
+ 20.1
+ 6.7
1,069,584
1,335,465
+ 4.8
841.543
1,272,259
1,151,809
+ 5.8
876,216
+ 4.4
1,053.000
549,291
______
— 10.0
246.031
152,316,016
+ 1.0! 148,548,360
— 6.8 2,845,002,259 2,413,979,304
+ 2.2 989.578,423 944,813,860
24,734.501
20.500,000
7.040.580
2.164,503
2,009,419
1,501,424
1.722.424
1,401,842
1,397,098
1,052,049
520,155

17,411,263
21.246,318
5,916,000
1,749,145
2,106,616
1,334,754
1,216,333
1,380,712
1,154.570
1,051,946
741,129

64,044,001

55,308,786

Ci6

T H E CHRONICLE.

THE FINANCIAL SITUATION.
There seemed to be some little improvement in the
general situation the past week in spite of drawbacks.
An early development of tension in the call loan branch
of the money market was due to the remarkably low
reserves of the banks, as shown by the previous week’s
statement; possibly helped by preparations for the
payment of $25,000,000 securities which had been
issued by a telephone company; also to expectations
that provision would have to be made next week for
the surrender of $6,000,000 of the $12,000,000 public
deposits which were placed in depositories last month
under the stipulation that they should be returned
one-half on January 21 and the remainder on February
15. This strained situation in money moderated
later, the improvement taking its start in a much
better outlook for money in London and Paris at the
moment, exciting a hope that the official rate at Lon­
don would be lowered, a hope that was soon thereafter
dissipated by the decided rise in the unofficial rate at Ber­
lin and other changes affecting the Bank of England rate.
The tension was, however, substantially relieved on
Thursday through intervention by Secretary Shaw,
who announced that, as the available cash in the Treas­
ury is unusually large, and interest rates high, he would
postpone the above-noted call for the surrender of
public deposits until Feb. 1, requiring that then the
one-half of the above sum originally called for Jan. 21
be surrendered and the remainder Feb. 15. A feeling
seems also to be quite confidently entertained by many
that by the end of this month the volume of the return
flow of money from the West and the South will be
large. Reports from those sections state that money is
moving to the interior centres from outlying localities,
and probably very soon transfers through the domestic
exchanges will be made to New York. Already there
have been received considerable amounts, as is shown
by the record of the inter-bank movement last week
and again the current week.
It is reported that the speculative selling of ex­
change this week was by one of the leading drawers,
with the object of checking the advancing tendency
of the market, which might, unless thus restrained,
make possible exports of gold to London. It is ex­
plained that it is not desirable to permit either exports
or imports of the metal until the markets here and
abroad resume normal conditions. The interests of
capitalists controlling large properties are so great
that they cannot, if it can be prevented, allow gold to
be shipped to Europe; the effect of such exports would
most likely have a disturbing influence upon the
money market. Imports of the metal would derange
the situation at European centres and create condi­
tions which would make difficult borrowing of foreign
capital by Americans. If exchange can be maintained
at rates between the gold-import and export points,
operations therein can be conducted to the advantage
o bankers both here and in Europe.
While the elections for trustees in the two great
mutual life insurance companies were pending, atten­
tion was called to the subject several times a week by
the sweeping and unsustained charges of misconduct
brought against the administrations in reference to
their handling of the matter. More recently the whole



[Y o l . l x x x iy .

subject has temporarily dropped out of mind, and yet
there is no definite information of the result, although
the elections are now three weeks past. It was at
once announced, on the strength of deductions drawn
not only from general probabilities, but from the pro­
portions which masses of votes from several different
sources bear to the total, that the administration
tickets have won by a heavy majority in both com­
panies, and there is still no reason for doubting this;
but nothing is positively ascertained. The law pro­
vides that “ immediately upon the closing of the polls
the inspectors shall proceed to the examination of the
ballots and shall canvass the votes lawfully cast; the
canvass shall proceed from day to day and the in­
spectors shall certify the result to the company as
soon as it is completed.”
This is both distinct and mandatory, and while the
“ immediately” is to be reasonably construed, the re­
quirement clearly neither contemplates nor allows
delay; yet the polls closed at 4 p. m. on December 18,
and down to a day or two ago at least nothing had
been done with the ballots except examine and per­
haps mark the outsides of the sealed envelopes con­
taining them, neither count nor canvass having been
begun. The inspectors are to “ canvass the votes
lawfully cast,” which necessarily means that they are
to be the judges of all questions and disputes arising,
subject to reference to the courts if necessary. It is
just to remember that the physical task is a large one,
the total vote in each company approximating 300,000,
and that no single set of election inspectors ever had
so large a case brought to it; yet, while this is ample
excuse for delay in completing the work, it is no excuse
for delay in beginning.
So far as has been announced, nothing has been done
beyond suggesting devices for the actual handling and
tallying and discussing (without being able to easily
agree on) the rules of procedure. It is only just to say
that the law put these elections in the charge of the
Insurance Commissioner, and that the inspectors are
his appointees and responsible to him, so that the case
is entirely out of the hands of the company manage­
ments, which are not in fault for any delays in begin­
ning or slowness in finishing. The situation, is,
however, one that borders on the ridiculous, and it
illustrates the unwisdom of the law and the unthinking
haste of the imagined public feeling that demanded
so violent an interference with the orderly management
of things, and which is still at work trying to construct
crimes where those who are active in that work know
there is none.
An important incident of the week has been the
decision of the New York Court of Appeals declaring
unconstitutional the law passed in 1906 amending
the Stock Transfer Tax bill. Our readers are aware
that the original statute had already been held by the
same Court to be constitutional, so that it is only the
addendum of 1906 that has now become void. No
doubt this last decision is just, and so far the result now
reached was desirable. But conservative interests
cannot rejoice greatly over the fact that the latest ad­
judication will tend to facilitate a class of business
which includes some of the least desirable engaged in
in Wall Street. But the law as it stood with the amend­
ment valid worked very unjustly, because unequally,
requiring 100 shares of stock to pay the same tax on

J a n . 12 1 9 0 7 .]

TH E CHRONICLE

its par whether the par was 100 or any other value
down to $1 —the minimum consequently paying one
hundred times as much tax as the stock of which the
par was one hundred. It is no wonder, when the case
got before the Court, that the opinion of the justices
was unanimous against the 1906 law.
The announcement that stockholders of the Penn­
sylvania Railroad Company at the coming annual
meeting in March are to be asked to authorize a fur­
ther increase in the company’s capital, both stock and
bonds, has not unnaturally led to considerable com­
ment. In certain quarters, too, the proposal has ap­
parently been received with much surprise, a circum­
stance which is reflected in the drop of several points
yesterday in the price of the stock- The reason for
the surprise is that last June President Cassatt, in
announcing the negotiation of the French loan for $50,000,000, stated that as far as could then be foreseen
the Company would not have to meet any very large
new capital requirements for some years, beyond what
would be necessary to pay off the $50,000,000 of notes
maturing Nov. 1 1907 and to provide the money needed
after the close of 1906 to complete the New York term­
inal. This last, it was estimated, would call for an
expenditure of $40,000,000, to be distributed over the
years 1907 and 1908. It is urged that since this state­
ment was made, the Pennsylvania has sold blocks of
its holdings of Baltimore & Ohio, Norfolk & Western
and Chesapeake & Ohio shares, and must have realized
very large amounts of money from such sales. Of
course there is no dispute that the company did derive
considerable money in that way, and yet we do not
see that this militates at all against the idea that the
Company may nevertheless be in need of further funds
in order to carry out the extensive operations in which
it is engaged. When we speak of “ extensive opera­
tions,” we have in mind not alone the special work in
connection with the New York terminals. The ordi­
nary new capital wants from year to year of an enter­
prise of the magnitude of the Pennsylvania Railroad
system are themselves of extremely large extent.
The Company makes very considerable appropriations
for additional track, sidings, &e., directly out of earn­
ings each year, but these necessarily fall far short
of the full requirements for the purpose. Traffic is
expanding in such a prodigious way that no sooner
has an order for new equipment or some other addi­
tions been filled than it becomes necessary to give an­
other equally large order still further adding to the fa­
cilities for doing business.
The situation in that regard is well illustrated by a
remark credited to one of the officials of the Pennsyl­
vania Railroad to the effect that Mr. Cassatt could
not have foreseen, when he made his statement last
June, the recent tremendous increase in the Company’s
business. On account of this increase, the Company,
it is stated, has recently been obliged to contract for
17,000 additional cars at an aggregate cost of about
$19,000,000. The significance of this further large
order will appear when it is recalled that at the time
of the June announcement it was pointed out that most
of the money then derived by the Company from its
bond negotiations would be used to pay for 33,000 steel
cars and 313 locomotives, which were being constructed
at a cost of $42,000,000, and to complete a water sup­
ply system for the Company’s lines. In other words,



67

after providing for an expenditure of $42,000,000 for
new equipment, it has been found necessary within a
few months thereafter to authorize outlays of $19,000,000 more for the same purpose. Such are the
Company’s needs that even a far-sighted man like Mr.
Cassatt apparently found himself unable, with all of
his active imagination, to keep up with them.
It cannot be denied that the company’s borrowings
in recent years seem large and are large. But the
Pennsylvania system is a giant among railroad prop­
erties and its outlays and needs are necessarily pro­
portioned to its size. Just how much addition to
capital stockholders are to be asked to authorize has
not yet been definitely determined upon, but it is
stated to be likely that the increase will be $100,000,000
in stock and an equal amount in bonds, the new issues
only to be put out as the money is needed. These are
undoubtedly big amounts and if we were dealing with
an ordinary railroad property, they would appear
stupendous. But in the case of the Pennsylvania
Railroad, we are not dealing with an ordinary railroad
property. Gross earnings of the Pennsylvania system
are increasing at the rate of over $25,000,000 a year.
Counting all the lines owned, operated and controlled,
both East and West of Pittsburgh, the addition during
1905 was actually $28,853,177. For 1906 we have as
yet only the figures for the eleven months to November
30 and for these eleven months there has been a further
addition of $21,386,100 on the lines directly operated
East of Pittsburgh and Erie, but exclusive of the lines
controlled and separately operated. We are inclined
to think that when the accounts are made up for 1906
the total of the gross earnings of all the various lines
operated or controlled will not fall very far short of
$300,000,000. When, therefore, the Pennsylvania
Railroad borrows $50,000,000 or $100,000,000 the
size of the loan must be considered in relation to the
prodigious magnitude of its revenues. Is not the
Pennsylvania Railroad employing the money raised
by it in precisely the way demanded by the public?
Is not thejnoney being applied so as to promote the
public good and in fulfillment of the company’s duty
as a public carrier? In connection with the freight
congestion throughout the country, which is being
made so much of, the railroads have been criticised for
not having added to their facilities sufficiently fast to
provide for the increase in business. If there is any
basis at all for the criticism an adequate defence
against the charge might be made on the ground that
business has really been increasing faster than it was
possible to provide for the same. The Pennsylvania
management evidently is determined to fulfill public
needs in that regard, at least so far as human prescience
can make provision to that end. The extra equip­
ment is in anticipation of the demands of a constant^
growing traffic. The enormous expenditures on the
New York terminals—which we very much fear will
not bring any immediate return commensurate with
the outlay—really belong in much the same category.
They are an anticipation of future requirements—the
far future if the reader so will. Will not the effect
in any event be to strengthen immensely the position of
the Pennsylvania Railroad with reference to the future,
and is not the work it is doing in that regard in the interest
of the whole community as well as in its own interest ?
Nor does it seem difficult to explain the proposed
further capital additions even in face of the large sums

TH E CHRONICLE.
realized by the Company from its recent sales of share­
holdings in other properties. Mr. Cassatt when he
made his June statement was speaking in 1906. We
are now in 1907 and Mr. Cassatt indicated that the
$50,000,000 notes maturing Nov. 1 1907 were one of
the things for which provision would have to be made.
He also indicated, as stated above, that the New York
terminals would require $40,000,000 in 1907 and 1908.
If we take one-ha'lf of this sum as the amount required
in 1907 this would add $20,000,000 more to the
$50,000,000 to be raised to pay off the notes, making
together $70,000,000. Now we are told additional
orders for equipment have been given to cost $19,000,000. This raises the total to $89,000,000. Pos­
sibly the Company realized $60,000,000 to $70,000,000
from its sale of shareholdings in the Baltimore & Ohio.
the Norfolk <fc Western and the Chesapeake & Ohio.
With $89,000,000 required for the purposes named,
the Company would thus still be between $20,000,000
and $30,000,000 short after applying the proceeds of
the shareholdings referred to. Hence it does not seem
so very strange after all that the management to pro­
vide for future needs should ask authority to make
further new capital additions, to be put out only as
required from time to time.
The records show that it is being found possible to
make very substantial additions to the country's pro­
duction of pig iron. This is rather important at a
time of such urgent demand for iron as now exists,
for we have been led to believe that the domestic out­
put had about reached its limit. During the summer
and autumn there appeared to be considerable basis,
too, for the statement. But in recent months the
furnaces have been steadily enlarging their output
and the figures for December just made public by the
“ Iron Age” are the most encouraging that have yet
been put out on that point. In August the “ Age”
made the product 1,926,736 tons; in September
1,970,962 tons; in October 2,196,808 tons; in Novem­
ber (a short month) 2,187,665 tons; while now for
December it is found that the make of iron reached
2,236,153 tons, notwithstanding holiday interruptions.
Adding 35,000 tons to the December total to cover the
monthly output of the charcoal furnaces, which are
never represented in the “ Age’s” figures, the iron pro­
duct for December was 2,271,000 tons. This, it will
be seen, is at the prodigious rate of over 27,000,000
tons a year. Yet demand is exceeding supply and
the “ Age” states furthermore that the outlook for
maintaining the December output in January is not
very promising since the capacity of the furnaces in
operation declined from 513,860 tons per week on
Dee. 1 to 507,397 tons per week on Jan. 1. However,
an important fact is that even with some furnaces
out of blast temporarily, the output per week at the
beginning of 1907 at 507,397 tons compares with only
463,673 tons per week at the beginning of 1906 and
but 377,879 tons per week at the beginning of 1905.
There was no change in official rates of discount
by any of the European banks this week; compared
with last week unofficial or open market rates were
steady at London, % of 1% lower at Paris and }/% of
1% higher at Berlin and Frankfort.
The most striking feature of the statement of the
New York Associated Banks last week was the reduc­




[VTOL. L X X X IV .

tion in the surplus reserve to $147,825, this com­
paring with a surplus the previous Saturday of
$5,369,225. The net decrease in cash was $402,100,
while the increase in reserve requirements was $4,819,300, so that the reduction in reserve was $5,221,400,
to the amount above stated. Loans were expanded
by $16,694,500 and deposits increased $19,277,200.
There were no transfers by the Treasury in either
direction during the week, but it was reported from
Washington that the Department had arranged for
the transfer hither from New Orleans of a considerable
amount of the accumulations of Government funds at
that centre. There was a shipment hence to Argentina
of $250,000 gold.
As the result of the above-noted low reserves of the
Associated Banks, as shown by last week’s statement,
of preparations for the disbursement of $25,000,000
on account of an issue of telephone securities, and the
expectation that next week depository banks would
be required to arrange for the surrender of $6,000,000
of the $12,000,000 public deposits—which had been
placed therein last month with the understanding
that half of this sum would be called January 21st,
and the remainder February 1st—there was the
development of some tension in the call-loan branch
of the money market early in the week that had a
somewhat disturbing influence. Secretary Shaw,
however, without solicitation, intervened for the relief
of the market , and on Thursday he announced that
the call for deposits which would mature January
21st would be postponed until February 1st , and that
surrenders under the original call for that date for the
remaining $6,000,000 of deposits would not be required
until the 15th of that month. The market was easier
on Thursday and for the remainder of the week.
There was a recession in rates for time money this
week to6% for all periods from sixty days to six months
on mixed collateral, but loans on industrial security
were quoted at ^2 of 1% higher for the shorter dates.
Money on call, representing bankers’ balances,
loaned at the Stock Exchange during the week at
15% and at 2%, with the average about 6%; banks
and trust companies loaned at 3% as the minimum.
On Monday loans were at 10% and at 53^% with the
bulk of the business at o% % - On Tuesday transac­
tions were at 15% and at 5% with the majority at
6 ^ % . On Wednesday loans were at 9% and at 2%
with the bulk of the business at 7%. On Thursday
transactions were at 6% and at 2 ^ % with the majority
at 53^%. On Friday loans were at 53^% and at 4%
with the bulk of the business at 53^%. Time loans on
good mixed Stock Exchange collateral were 6% for
all maturities, from sixty days to six months; wThere
the security offered was industrial stocks, the rate was
6 ^ % for sixty to ninety days and 6% for longer
periods. The demand for fixed-date funds was only
moderate, borrowers expecting lower quotations.
Commercial paper remains unaltered at 6@ 6}4% for
sixty to ninety day endorsed bills receivable, 6@63^%
for prime and 63/o @7% for good four to six months
single names.
The Bank of England rate of discount remains un­
changed at 6%. The cable reports discounts of sixty
to ninety day} bank bills in London 5%. The open
market rate at Paris is 3@ 3% % and at Berlin
and Frankfort^it is
According to our

Jan. 12 1907.|

THE CHEONICLE

special cable from London, the Bank of England gained
£1,371,154 bullion during the week and held £31,654,000 at the close of the week. Our correspondent fur­
ther advises us that the gain was due to heavy receipts
from the interior of Great Britain, imports and pur­
chases being slightly exceeded by the export move­
ment. The details of the movement into and out of
the Bank were as follows: Imports, £696,000 (of which
£5,000 from Australia and £691,000 bought in open
market); exports, £750,000 (of which £740,000 to
South America and £10,000 to Egypt), and receipts
of £1,425,000 net from the interior of Great Britain.
The foreign exchange market was generally lower
this week. The business on Saturday last was at
higher rates than on the previous day, in consequence
of a demand for remittance by Tuesday’s mail; this in­
quiry, however, seemed to afford opportunity to dis­
pose of overbought bills resulting from last week’s
speculative operations, and on Monday the market fell
off, influenced b}^ the satisfaction of the demand for
remittance and by supplies of commodity bills, chiefly
against cotton; the little strain in call loans had some
effect upon the market. On Tuesday the tone was
weak, due in part to some speculative selling, also to
the fact that there would be no mid-week mail; this
tended to restrict the demand, and though there was
a partial recovery in the afternoon the market closed
barely steady. On Wednesday the tone was again
weak, influenced by a large supply of cotton bills and
by liberal offerings of bankers’ drafts, indicating
speculative sales; there was some bidding for bills
for Saturday’s steamer, but the business therefor
was small and in the absence of a good demand the
market closed heavy. There was no evidence of in­
vestment buying during the week. It was reported
that considerable amounts of finance bills, represent­
ing loans on securities, would mature this month, but
it was thought likely that these would be renewed.
Nominal quotations for sterlin; exchange are 4 81
for sixty days and 4 853^ for sight. Rates for actual
business on Saturday of last week were, compared with
those of the previous day, 25 points higher for long at
4 8075@4 <8125, 30 points for short at 4 8520@4 8540
and 35 points for cables at 4 8620@4 8635. On Mon­
day long fell 50 points to 4 8070@4 8075, short 30
points to 4 8505 @4 8510 and cables 25 points to 4 8575
@ 4 8585. On Tuesday long declined 5 points to
4 8065@4 8070, short 15 points to 4 8490 @4 8495 and
cables 5 points to 4 8570^4 8580. On Wednesday long
fell 20 points to 4 8045@4 8050, short 25 points to
4 8465@4 8470 and cables 20 points to 4 8555@4 8560.
On Thursday long was 25 points higher at 4 8050 @
4 •075, short 10 points at 4 8470@4 8480 and cables fell
5 points to 4 8550 @4 8560. The tone was steady on
Friday at an advance of 5 points for short and cables.
The following shows daily posted rates for sterling
exchange by some of the leading drawers:
WYd., T h u n ., F r i..
F r i.,
M o n ., Tu ts.,
Jan. 4 Jan. 7 Jan. 8 Jan. 9,Jan. 10 Jan. 11

Baring
& C o . - ....................
Bank British
North Am erica—
Bank 01
M ontreal..... ............
Canadian Bank
of Commerce - Heidelbach, Ickelheimer & C o_____
Lazard
Freres ............... ..
Merchants' Bank
P*of
_______

j 60 days

Is
1 00
1

Brown

4 86
160 days 4 8 0 4
4 85,4
! 60 days 4 8 0 4
Sight - 4 8 5 4
; 60 days 4 81
.1 S ight. - 4 85.4
(60 days 4 8 0 4
\Sight, - 4 8 5 4
\60 days 4 8 1 4
1 Sight. - 4 86
j 60 days 4 8 1 4
. j Sight- - 4 86
(60 days 4 8 0 4
J e ijr h t
* 8.V<




814
86
814
86
814
86
81
854
81
854
814
86
814
2
81°
o*1/C

81
854
81
854
81
854
81
854
! 81
! 854
81
! 854
i 81
1 854
81
' 0 5,1^

81
854
81
854
81
854
81
854
81
854
81
854
81
854
81
QM/:

81
854
81
854
81
854
81
854
81
854
81
854
81
854
81
OKI*

81
854
81
854
81
854
81
854
81
854
81
854
81
854
81

09

The market closed on Friday at 4 8050@4 8075 for
long, 4 8475@4 8485 for short and 4 8555@4 8565 forr
cables. Commercial on banks 4 8010@4 8 020 and
documents for payment 4 793^ @ 4 803^. Cotton for
payment 4 793^ @4 79%, cotton for acceptance 4 8010
@ 4 8020 and grain for payment 4 80% @4 803^.
The following gives the week’s movement of money
to and from the interior by the New York banks:
Received by
Shipped by
N . Y . Banks. N . Y . Banks.

Week ending January 11 1907.
Gold __________ ______

______

.

N et Interim
Movement.

Sll,475 ,00 0
2,090,000

86,061,000 Gain 55,414,000
1,250,000
840,000 Gain

S13,565,000

$6,901,000 Gain 86,664,000

With Sub-Treasury operations, the result is as fol­
lows:
Week ending January 11 1907.

Out oj
Banks.

Into
Banks.

N et Change in
Bank Holdings.

Banks’ interior m ovem ent as a b ove-

813,565,000
28,400,000

86.901.000 Gain $6,664,000
22.400.000 Gain
6,000,000

Total gold and legal tenders____

841,965,000

829,301,000 Gain $12,664,000

The following table indicates the amount of bullion
in the principal European banks:
January 11 1906.

January 10 1907.
Bank oj
Gold.

Silver.

Gold.

Total.

£
£
£
£
— - 29 ,797,858
England __ 31,(.54,000
31 ,654,000 29 797,858
F ra n ce ___ ioe,295,200' 39,555 360145 ,850,560 114 ,740,696 42,583 121,157 ,323,817
G erm any. 27.107.000 9,036 ,000^ 38 .143,000: 32 027,0001 10,675 ,000! 42 .702,000
3,629 ,000:107 ,239,0 0
R u ssia ___ 117,580,000: 4,685 ,000 122 ,265,000,103 ,610,000
Aus.-Hun. 46.433.000 11,780 ’000 58 213.000 44 ,875,000 12,080 ,000 56 ,955,000
S p a in ____ 15.428.000 24,186 000 39 614.000 1 ,031,000 22,845,,000 37 876,000
3.532 ,500 31 ,390,500
Ita ly-------- 32,033,000! 4,598 ,800 36 ,631,800! 27 ,858,000
6,098 ,300: 12 699,800
5,536.500J 5,765 ,400 11 ,301,900; 6 ,601,500
N ’ th’ lands
3,408,000: 1,704 000! 5 ,112,000: 3 231,333
N at.Belg..
1.615 ,667: 4 ,847,000
3 ,790,000
Sweden
3,996,000;
...
3 ,996,000 3 ,790,000
T ot.w eek . 389,470,700 101,310,560 490,781,260 381,562,387 103,058,5884S4,620,975
Prev .week 386,284,319 100,618,387 486,902,706 377,302,546 102,395,560 479.698,106

THE ALLEGED DISPUTE WITH JAPAN.
We have had little to say of the recent controversy
over the question of Japanese scholars in San Fran­
cisco schools, and for the reason that we have not
deemed the episode of any far-reaching importance.
It is true that sensational newspapers have busied
themselves with showing how easily war with Japan
might arise out of this apparent denial to Japanese in
this country of rights guaranteed them by treaty.
Certain European newspapers, especially in quarters
where it is not unlikely that trouble between Japan
and the United States would be welcomed, have added
their voice to predictions of “ coming war.” No
doubt these disinterested parties may have imagined
that their predictions drew added weight from Presi­
dent Roosevelt’s strong criticism of San Francisco's
position in his message to Congress and from the
special report on the facts in the case made to the
President by Secretary Metcalf.
We presume, however, that the President’s repudia­
tion, in behalf of the Administration, of any sympathy
with the attitude of San Francisco, was taken for the
express purpose of removing any valid ground of inter­
national friction. It has certainly been so accepted
by Japan, whose Ambassador to this country, in a
recent public speech, referred to the talk of a diplo­
matic clash as absolute nonsense. Every intelligent
man knows it to be so, and we should hardly return
to the question now but for the fact that numerous
critics, more serious than those to whom we have
referred, have made the incident the basis for criti­
cism of our present Federal system of government,
and for prediction of an inevitable change in that
system. The London “ Spectator” has perhaps ex-

70

THE CHRONICLE.

pressed this attitude most intelligently. What it
concludes may be judged from its statement that
“ it seems to us, as impartial and sympathetic ob­
servers, that a very serious crisis may be ahead of the
United States. Another stage has been reached in
the slow but inevitable progress toward national unifi­
cation, and the present questi on may quite conceivably
prove the most important that has been raised since
the Civil W ar.” '
The justification for this somewhat formidable
description of the matter is found by the “ Spectator”
in the well-known fact that exclusion of the Japanese
children from the San Franciso schools was at least
nominally in violation of privileges guaranteed to the
Japanese in this country by our treaty with Japan.
On the one hand, regulation of education is purely
a State matter, not to be interfered with by the
General Government, while on the other hand, accor­
ding to the United States Constitution, not only the
fundamental law and the laws subsequently passed
by Congress, but “ all treaties made, or which shall be
made, under the authority of the United States, shall
be the supreme law of the land, and the judges in
every State shall be bound thereby, anything in the
Constitution or laws of any State to the contrary not­
withstanding.” From this the “ Spectator” draws the
seemingly plausible inference that if a State refuses
to observe its duty toward foreign residents enjoying
treaty rights, “ then it is the business of the Federal
Government to use all its forces, civil and military,
for the purpose.”
Now, all this reasoning is theoretically sound, and
we cannot blame a foreign critic for assuming that the
time may come when a State, persisting in a contu­
macious attitude toward treaty rights or other Federal
guaranties, would necessitate forcible discipline by
the Federal Government. We rather wonder, how­
ever, why the question does not occur to destructive
critics how the country has so long escaped from
difficulties of this origin. Throughout our earlier
history, the question of State obedience to statutes,
passed by Congress but disliked by the people of cer­
tain States, came up so repeatedly that the struggle of
1861 was clearly foreshadowed, to the far-seeing
statesman, at least a generation before it came. Noth­
ing of this sort can be said of the proposition set forth
by the “ Spectator.” Except for the trouble of 1891
between the Italian Government and our own over the
lynching of the New Orleans Italians, we cannot recall
a single incident where a difficulty thus originated
has assumed a serious aspect. Mr. Bryce analyzes
and criticizes with the utmost thoroughness, in h s
“ American Commonwealth,” the advantages and de­
fects of our divided system of Federal and State gov­
ernment, pointing out possible weaknesses in manage­
ment of foreign diplomacy, in lack of uniformity in
private law and matters of administration, and refer­
ring to other obstacles which naturally would impress
a foreigner. But of the dilemma pronounced by our
London contemporary as possibly the most important
raised since the Civil War, Mr. Bryce makes no men­
tion whatever.
The reason, we think, is fairly plain. The possible
causes in which a dispute of this sort might arise are
so few, the interests immediately at stake are so small,
and the attitude of the General Government so certain
to be consistent, that it is difficult to imagine an actual




[Vol. lxxxiy.

and serious diplomatic clash over the question. In
the case of the Mafia of 1891 our Government frankly
expressed its own concern to Italy, and interceded,
we believe successfully, for payment of an indemnity
to the families of the victims. In the present case of
San Francisco, we understand that school privileges
have not been denied to Japanese children—the exclu­
sion being merely from one class of schools—so that the
fundamental principle of the treaty has not been flatly
violated. We mention this not to approve necessarily
the action of California, but to show that the case is
hardly one from which the imagined serious conse­
quences might proceed.
One need only consider the limited extent to which
a treaty with a foreign Power can in any case touch
directly on questions of local State administration,
to see how improbable a serious situation from such
a cause would be, and how exaggerated are such con­
clusions as that drawn by the “ Spectator.” Except,
indeed, for the two branches of treaty guaranties—
that of protection to property of foreign residents, and
that providing that the privilege of using our public
institutions be extended to such residents—we find it
not at all easy to select a supposable case from which
even such a teapot tempest as that of the present
season or of 1891 might arise. Certainly it is not our
judgment that a nation which has carried its Consti­
tution and its system of dual government unimpaired
through such a terrific shock as the Civil War will be
compelled to amend it for the mere purpose of avoiding
petty friction of the sort witnessed in California. Of
the Japanese attitude toward the suggestion of an
outright breach with the United States, we have not
deemed it necessary to speak. Certainly nothing
more preposterous could well be imagined than the
suggestion in Japan, at the present time, of breaking
off good relations with this country. What some of
our hot-headed newspapers and politicians have more
need to remember is that we, too, have a stake of high
importance in the friendship of Japan. What such
good relations mean to the commerce of our Pacific
coast hardly needs to be pointed out. What the
lightly-predicted Japanese enmity would mean, with
our remote and isolated naval base within easy reach
of Tokio, deserves equal consideration.
FAILURE RECORDS— WHAT THEY SHOW AND
DO NOT SHOW.
When one studies the annual lists of failures, as
made up and published at the end of every twelve
months, if a crisis has occurred within the cycle, the
story necessarily turns on it and is solved by it; but
when the year is an ordinarily prosperous one, too lit­
tle comes within the record to make the presentation
of facts complete enough to trace, through the figures
given, the action or influence of the conspicuous events
which have been a chief part of the year’s commer­
cial and financial history. A crisis is a matured end
which results as the culmination of some prolonged
mistakes in legislation or in business methods that one
can follow through the years in which it has been ma­
turing and culminating. On the other hand, any year
which has no such round-up may include many im­
portant events but has no tell-tale.
For illustration, by far the greatest calamity which
has happened in 1906, and for many a year, was the

JAN.

12 1907.]

THE CHRONICLE

San Francisco fire and its attendant losses. Almost
the whole city was blotted out of existence and the sur­
roundings received a severe setback. Notwithstand­
ing that city, in population and as a business cen­
tre, was by all odds the leading city in California, that
State is reported by Dun as aggregating in 1906 only
380 failures and $2,048,259 liabilities, against 519-fail­
ures and $2,955,689 liabilities in 1905. Instead,
therefore, of showing an increase in casualties and lia­
bilities in 1906, on account of the fire, &c., there is
more than 26% decrease in both items. Consequently,
this great calamity leaves- in the record no discover­
able marks of its inroad.
That discrepancy, it should be added, is not
because the figures are wrong or that the system is
necessarily wrong. Just so, also, there are many
other of the 1906 happenings that have materially in­
terfered with the progress of trade and commerce
and yet make no show in the failure records; some
have not yet worked out their results, while others are
incidents having little relation to failure figures be­
cause probably not so serious as to cause at the moment
casualties. Of this character was the car shortage and
freight embargo—matters of very grave inconvenience
in numerous sections, but in the failure records as given
not noticeable even, where the *pressure was most
severe.
We should expect, however, to have met with dis­
tinct traces of some other of the prominent character­
istics of the year’s business,and are disappointed in
finding so little of that nature disclosed. Take the
wide speculations that have prevailed, the extreme
tension in money, most prominent in New York,
testing credit severely, and the rapid conversion there
and in its vicinity of floating capital into fixed forms.
These certainly are all of cankerous growth, and as a
practical fact have been in a measure prominent in
every part of the country. In all these respects New
York has had a fearfully bad name. Indeed, it would
seem that the best orators of the land have searched
through their lexicon from A to Z to find words terri­
ble enough to paint in proper colors the evil work being
carried on by speculators at this centre; besides,
too, what a hubbub has been made over its habit
and capacity for absorbing capital, which, whenever
out of occupation, flows into New York bank vaults
by force of a natural law, to the loss of its use at
interior centres—a capacity so great as to lead our
Secretary of the Treasury in all his distributions of
cash to discriminate against New York. Yet after it
all, New York State shows only 1,144 failures in 1906,
against 1,290 in 1905; to be sure, the aggregate of lia­
bilities is $23,859,101 in 1906, against only $20,380,214
in 1905, a difference which, according to the teaching
of to-day, is of no great account, since the decrease in
number shows that the loss comes out of the larger
capitalists—the troublesome millionaires. In the same
connection it is interesting to note that the State of
Illinois, wherein is the more saintly town of Chicago,
advanced materially in 1906 both in number of fail­
ures and total liabilities.
Looking at the future of failures, we do not recall any
decidedly prosperous year in which a spirit of caution
was so marked a feature throughout as has been the
case in 1906. This recognition of an approaching dan­
ger has, too, been a growth much more pronounced as
the year has progressed, not being extended over the



71

whole country until the close of the year and even at
that late date in a modified form, and not including
within its grasp a good many leading industries.
With a strong and buoyant start, it took time and it
took pressure of a highly unfavorable kind to under­
mine the exuberant gladness and confidence the year
began with. What undermined confidence was the
war that has been waged against capital, making capi­
talists less venturesome, capital more seclusive, what
we call money dear, and rendering securities unsafe
and enterprise injudicious. Now that commercial
and financial affairs have been pushed down hill, it
will of course be harder to get them back. People
who understand the influences governing the flights of
capital, and how easy it is to give it wings, were well
aware where affairs would land when the agitation of
the inter-State commerce rate bill began. The descent
has not been as rapid as anticipated, because, though
hostile bills have been passed and disturbing threats
uttered, their execution has been delayed in large
measure. If the spirit continues in 1907 as in 1906,
we shall, before a decided recovery is reached, get
where we shall secure our schooling in money wisdom
through more serious suffering than we have had yefc.
There has been another force adverse to easy pro­
duction accumulating influence in the last two years.
Higher prices for raw material and higher prices for
wages call for the absorption of more capital in manu­
facture and in the stocks carried. We referred to
this point a year ago when writing of the year’s fail­
ures. We then said that larger expenses and a smaller
net profit on a given unit of capital have become the
rule. As a consequence, those who make the most
money must be those who handle abundant capital
and who can afford, if need be, to lose interest in
carrying the more costly stocks; besides that, those who
have not large capital stand at a disadvantage in
buying the supplies of materials they need. Thus it
comes to pass that every advance in wages and ia
commodity values has an influence in discouraging the
smaller trader.
THE FUEL SHORTAGE AND ITS CAUSE.
Developments from day to day are making it more
and more plain that the recent coal shortage in the
Northwest was the result of causes beyond the control
of the railroads and for wThich they were in no degree
responsible. Owing to the fact that the railroads, on
account of the wonderful activity of general trade,
have been overwhelmed with freight of all kinds,and
that as a result there has been undoubted congestion
on many different lines and in nearly all parts of the
country, causing delays in the movement and delivery
of traffic, there has been a disposition to believe that
the coal shortage was the outgrowth of the same con­
dition of things. Investigation is gradually establish­
ing, however, that the scarcity of fuel in the sparsely
settled districts of the Northwest has been occasioned
by wholly different circumstances and causes. It
seems that coal dealers along some of the lines,
and particularly of the Northern Pacific and the
Great Northern railways, did not lay in supplies
of coal at the usual time. The reason for this
attitude—the delay in placing orders so that the
coal would be on hand when the cold weather came—
is largely a matter of conjecture. It is suggested
that the railroad rate agitation in Congress and tba

72

THE CHRONICLE.

enactment of the Hepburn Railroad Rate Bill, giving
the Inter-State Commerce Commission great power
over rates, induced the delay. We are told that deal­
ers were led to think that the Commission would at
once proceed to make vigorous cuts in rates and as
dealers wanted to get the benefit of the lower rates,
they held back their orders in the expectation that
later in the season the cost of the freight transporta­
tion would be less.
Whether this be the true explanation or not,
the fact is undoubted that orders for coal for these
points were during most of the season on a greatly
reduced scale as compared with other years. Then,
all of a sudden, realizing that the time had arrived
when they must have stocks of coal whether rates
were reduced or not, orders were given of unusual
size for coal—orders that ordinarily would have been
distributed over a period of several months. Hence,
the roads were called upon to carry three to four times
the quantity of coal they are ordinarily obliged to
transport late in the season. In some cases the orders
were given after snow fell and necessarily there was
delay in delivery. The dealers, not getting their
supplies, sought to throw the blame on the carriers
on the plea that if only the railroads would deliver the
enormous quantities of coal ordered by them at the
last moment, they would have coal enough to meet the
demands of all local consumers.
It appears, too, that indirectly the apathy of dealers
in laying in their stocks of coal at the usual time
served to intensify the congestion in other classes of
freight. When the railroad managers saw what a pre­
dicament the dealers had got themselves into, and
that the inevitable result must be distress and great
suffering by the local communities, owing to the
lack of the proper supplies of fuel as the weather
grew colder, they redoubled their efforts to relieve
the situation and rushed coal shipments through
in extra quick time. This seriously interfered with
the ordinary movements of freight. It seems to
be the practice on these Northwestern roads to ship
coal largely in box cars. The shipments are made
westward, and in this case the trains in numerous in­
stances were run on passenger train schedules. But
the ordinary trend of freight in that section at this sea­
son is eastward. Grain, for instance, is pressing for
shipment eastward in enormous volume. With the
cars employed in other work—in moving coal west­
ward—the number available for grain shipments east­
ward was correspondingly reduced. It will be recalled
that both the Northern Pacific and the Great Northern
in their statements of earnings for the month of No­
vember reported losses in earnings as compared with
the corresponding month last year, as they do now
also in their returns for December. We commented
on the November loss as being rather strange at a
time when the roads had, according to all accounts,
more freight than they could handle. That the grain
movement had been smaller was evident from the
statistics, but it seemed difficult to understand why
the shortage in grain should not have been made
good by larger shipments of other classes of freight,
which was being offered in such enormous volume.
The explanation of this apparent anomaly is now
found in the circumstances narrated above. On ac­
count of the extra amount of coal that had to be
carried and the need for rushing these coal ship­



[V o l.

l x x x iv

.

ments through unusually fast, the whole freight
business of the roads has been deranged. They were
unable to move as much freight as they ordinarily
would have been able to do, and that fact served at
once to increase traffic congestion and to reduce the
earnings.
The experience on the present occasion shows how
futile must be any legislative meddling with the prob­
lem, as is now proposed. The daily papers have
recently reported that a bill was ready for introduction
in Congress providing that when a shipper asks for
twenty-five cars or less it shall be the duty of the car­
rier to provide them within three days, and if he re­
quests more than twenty-five cars, then within ten
days. The carrier is to forfeit to the shipper one dollar
per car for each day’s delay and to be liable for all
damages suffered by the shipper and for the cost of
any suit he may have to bring to recover indemnity.
But how would the carrier fare under such a situation
with regard to coal as we have described above ? If
dealers delay in laying in supplies and then rush in
orders for enormous quantities of goods, is the railroad
to be penalized for the dilatoriness of the dealer?
A law such as proposed would be wholly impracticable.
There would be no inducement for expediting shipments
if consignors knew that the carrier was under obliga­
tion to furnish the cars whenever demanded, no mat­
ter how unreasonable the demand. The result would
be the crowding of shipments of goods into a space of
a few of the busiest weeks. Under such an arrange­
ment it would be absolutely impossible for the roads
ever to have an adequate supply of equipment and the
cost of obtaining such supply, if it were really obtaina­
ble, would be forbidding, for it would inevitably fol­
low that the equipment must remain idle a good part
of the remainder of the year. Nor would such an
arrangement be to the interest of the producing and
manufacturing interests. Suppose that the whole
season’s cotton crop or the grain crops were rushed to
the seaboard within a month or two. What would be
the effect on prices, and where would the room be
found to store the produce or the ships to carry it
away ? An even or equal distribution, as nearly as
may be, over the different months of the year is what
should be aimed for. Moreover, only in that way
can due economy in operations be attained, making
it possible to transport freight at lower rates than
could otherwise be done.
RIGHT OF WOMEN TO WORK AT NIGHT.
In our issue of Aug. 18 last we referred to a decision
of the Court of Special Sessions of the First Division
of the City of New York declaring unconstitutional a
labor statute forbidding adult women to work in fac­
tories before six in the morning or after nine at night.
The case was subsequently carried on appeal to the
Supreme Court, and the Appellate Division of that
Court in the First Department last month handed down
a decision affirming the judgment at Special Sessions.
The ground upon which the lower court held the statute
invalid was that to labor and to employ labor are in­
herent and inalienable rights of our citizens and cannot
be taken away in whole or in part unless upon the
broad ground of public good, which must be apparent
and cannot be predicated on legislative dictum.
Justice Olmsted, who wrote the opinion at Special
Sessions, put the matter thus: “ It may be stated as

J a n . 12 1907. J

THE CHRONICLE.

a well-settled legal proposition that the right to labor
and to contract for that labor is both a liberty and a
property right; when, therefore, the Legislature enacts
a statute such as that under consideration, it must be
admitted that it has infringed in the enactment the
rights which are very clearly accorded by the Con­
stitution to the individual citizen.”
This opinion and the reasoning employed in it the
Appellate Division now adopts as its own. The case
was that of the People of the State of New York vs.
David L. Williams, who conducts a printing and book­
binding establishment up town. The law has been
on the statute books for a number of years, forming
Section 77 of Chapter 415 of the Laws of 1897 and
has been amended from time to time. One night in
January 1906 a deputy factory inspector visited the
bookbindery of Mr. Williams and found some girls
at work of full legal age, engaged in their usual occu­
pation of folding sheets and doing other similar work
customary in binderies, and for which girls with their
deft fingers are peculiarly adapted. It would be a
hardship to deprive girls of employment of that kind,
since the pay for night work is much higher than for
day work, and, furthermore, night work is essential
on many different papers and periodicals which cannot
be sent to press until late at night and which must be
ready promptly for distribution to the reading public
the next morning.
Nevertheless Mr. Williams, as one of the proprietors
of the establishment referred to, was found guilty of
a misdemeanor in having employed one Katie Mead
to work in his establishment after nine o’clock at night
on certain specified dates. The law says “ that no
minor under the age of 18 years and no female shall be
employed, permitted or suffered to work in any factory
in this State before six o’clock in the morning or after
nine in the evening of any day.” The word “ factory,”
as we have on previous occasions pointed out, has a
very broad designation, the statutory definition of
it being as follows: “ The term factory when used in
this chapter shall be construed to include also any
mill, workshop or other manufacturing or business
establishment where one or more persons are em­
ployed at labor.”
At the trial the deputy inspector was called to prove
the bare fact of employment after prohibited hours
in a factory. The accused offered no evidence and
was thereupon found guilty. Upon a motion in arrest
of judgment, the defendant, through his counsel, con­
tended first that Section 77 of the Labor Law, under
which the conviction was had, is in contravention of
the Fourteenth Amendment of the Federal Consti­
tution, in that it is an infringement of the privileges
and immunities of the citizens of the United States,
and denies to women the equal protection of the laws;
second, that it contravenes Article 1, Section 6, of the
State Constitution, in that it deprives a citizen of her
liberty and property without due process of law.
Only one plea in justification of the Statute was
urged by the State, namely that it was enacted to
protect the comfort, welfare and safety of the whole
people, and the individual must suffer this curtailment
of his granted rights in the interest of the common
good. But Justice Olmsted quoted the decision of
the United States Supreme Court (Lochner vs. New
York, 198 U. S. R ., p . 45) in the case where it was
attempted to fix a ten-hour day for employees of bak­



73

eries and confectionery establishments, which the
Court, as will be remembered, declared unconstitu­
tional. In that case it had been urged that it was to
the interest of the State that its population should be
strong and robust, and therefore any legislation which
might be said to tend to make people healthy must be
valid as health laws enacted under the police power
of the State. But the United States Supreme Court
said that if this be a valid argument and a justifica­
tion for this kind of legislation, it would follow that
the protection of the Federal Constitution from undue
interference with the liberty of person and freedom of
contract is visionary wherever the law is sought to be
justified as a valid exercise of the police power. Said
the U. S. Supreme Court in that case: “ The Act is
not within any fair meaning of the term a health law,
but is an illegal interference with the rights of indi­
viduals, both employers and employees, to make con­
tracts regarding labor upon such terms as they may
think best or which they may agree upon with the
other parties to such contract. Statutes of the nature
of the one under review, limiting the hours in which
grown and intelligent men may labor to earn a living,
are mere meddlesome interferences with the rights of
the individual.”
Applying the same course of reasoning to the New
York statute prohibiting the employment of women
after nine o’clock at night, Justice Olmstead, as already
said, reached the conclusion that it was clearly uncon­
stitutional. Moreover, to him the New York law
seemed class legislation of a peculiarly objectionable
type. He referred to the fact that there was no pre­
text that the building in which the Mead girl had been
employed was insecure, the light bad, the ventilation
defective,or the general sanitary conditions deficient.
On the contrary, the deputy factory inspector had tes­
tified that in those particulars “ it is the best factory
of the kind in New York City.” Justice Olmsted
pointed out that the statute which would prevent
Katie Mead from working in a factory after nine o’clock
under the best sanitary conditions offers no prohibi­
tion against her doing the same work in a hall bed­
room in a tenement house, under conditions more
detrimental to her health. “ Why this distinction,”
he asked, “ between two possible mothers of future
citizens if this be simply a health regulation? The re­
lation of the subject of the statute to the public health
and common welfare seems altogether too remote to
sustain it as a proper exercise by the State of its police
power.”
We review thus at length the points made in the
opinion at Special Sessions, because Justice Scott, in
delivering the opinion of the Appellate Division, did
not feel called upon to enlarge upon it, saying that
Justice Olmsted’s opinion discussed the Constitu­
tional infirmity of the labor statute upon which the
prosecution was based so satisfactorily that there
seemed no need of adding to it. In view of the fact,
however, that two of the justices of the Appellate
Division dissented (Houghton and Ingraham were
the dissentients), he deemed it proper to point out that
confusion seemed to have arisen as to precisely what is
the offense charged. The statute (Section 77, as al­
ready stated, of the Labor Law) contains two inhibi­
tions. It forbids the employment of any minor un­
der the age of eighteen years or any female of any age
in any factory before six o’clock in the morning or af­

74

THE CHRONICLE.

ter nine o’clock in the evening. It is this clause which
the defendant was charged with violating. The other
prohibition is quite distinct and forbids the employ­
ment of any such minor or woman for more than ten
hours a day or for more than sixty hours in the week.
The two inhibitions are separate and unrelated.
The first, which was the only one in question before the
Court, has nothing to do with the length of time a
woman or minor shall work, for permitting such work
for an hour or even less time within the prohibited
hours is a violation of the clause. Justice Scott was
prepared to admit that, for physical reasons, a woman
cannot, speaking generally, work as long or as hard as
a man, and he was careful to say that if the Court
had to consider a statute limiting the number of
hours per day or per week, during which a woman
might work, the argument put forth to sustain the
clause under consideration “ would be apposite and per­
suasive.” But that question was not before the Court.
Its discussion, Justice Scott thought, served rather
to cloud than to clarify the question alone presented
for determination. The provision under examination
was aimed solely against work at night, without re­
gard to the length of time during which work is per­
formed or the conditions under which it is carried on.
In order to sustain the reasonableness of such a pro­
vision, the Court would have to find, Justice Scott
pointed out, that, owing to some physical or nervous
difference, it is more harmful for a woman to work at
night than for a man to do so, for concededly, he said,
the clause in question would be unconstitutional if it
applied to men as well as to women. He was not
aware of any such difference, and in the discussions
that took place none had been pointed out to him.
The order at Special Sessions was therefore affirmed. j

CLEARINGS AND SPECULATION IN 1906.
Like all the other indications of trade activity, the
records of bank clearings for the calendar year 1906
tell a story of continued growth and expansion. In
reviewing the bank exchanges for the preceding year
(1905), we found that the totals far surpassed those of
the best preceding period of twelve months. Now for
1906, with a further large increase, even this previously
unexcelled aggregate of 1905 is left far behind. Of
course, however, there is nothing very surprising in
that fact. All through the year our factories and other
industrial and business establishments were turning
out an unequaled quantity of wares and goods, and
practically every line and department of trade was
seeking to enlarge its output; for it is literally correct
to say that the demand for all classes of goods was
all the time in excess of the supply. In the case of
the metals trades, and more particularly in iron and
steel, this was conspicuously true, leading finally to
considerable importations from abroad to supplement
the home production. Furthermore, the country
harvested another large series of grain crops, and the
cotton crop also ran much ahead of the reduced yield
of 1905. Speculation was also more or less in evidence
— though not to any very great extent in the mercan­
tile markets. On the New York Stock Exchange
the share sales reached figures never before attained,
even though the general course of values was not up­
ward. On the other hand, the tendency of mercantile
prices was upward. j^In brief, all_conditions and cir­




V ol.

l x x x iv .

cumstances combined to swell the volume of the bank
clearings.
Taking the total of the exchanges for the whole
country, the aggregate for 1906 reaches 159,808
million dollars, against 143,909 millions in the calendar
year 1905, only 112,449 millions in 1904 and but 109,209 millions in 1903. The increase over 1905 is fully
11%, and as compared with 1903, when many of the
conditions were adverse, it is not far from 50%. It
is also noteworthy that the ratio of gain over 1905 at
New York does not vary greatly from that in the rest
of the country. At New York the further growth in
1906 was 11.6%; outside of New York it was 10.1%.
Such a close accord as this is rare. On account of the
part played by financial transactions at this centre,
and yet more on account of the fluctuations in Stock
Exchange speculation, the course of clearings here is
often quite different from that elsewhere—the two
movements in some years having been the exact re­
verse of each other. In the following we compare the
clearings for 1883 and the twenty-three years since then
for New York alone and for the points outside of New
York, bringing out conspicuously the fact mentioned.
Year.

1906------------1905................
1904................
1903................
1 9 0 2 ..............
1901..............
1900................
1899..............1898..............1897................
1896................
1895 — ..........
1894 ................
1893................
1892................
1891................
1890................
1889............
188S..............
1887................
1886..............
1885................
1884................
1883-------------

New York
Clearings.

Inc.
or
D ec.

Clearings
Outside
N ew York.

Inc.
or
D ec.

Total
Clearings.

Inc.
or
D ec.

$
104675828,656
93.822.060,202
68,649,418,673
65,970,337.955
76.328.189,165
79,427,685,842
52.634.201.865
60,761,791,901
41,971,782,437
33,427.027,471
28,870,775,056
29,841,796,924
24.387.807,0.0
31,261,037,730
36,662.469,202
33.749,322,212
37,458,607,609
35,895.104,905
31,100,027,521
33,474,556,26S
33.676.829,612
28,152,201,336
30,985,871,170
37,434,300,872

%
+ 11.6
+ 36.7
+ 4.1
— 13.6
— 3.9
+ 50.9
— 13.4
+ 44.8
+ 2 5 .6
+ 15.8
— 3.3
+ 2 2 .3
— 22.0
— 14.7
+ 8.6
— 9.9
+ 4.4
+ 15.4
— 7.1
— 0.6
+ 19.6
— 9.1
— 17.2
— 20.2

$
55,132,812,330
50.087.388,239
43,800,245,342
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
22.375.548.783
23,338.903,840
21.072.251,587
22,882,489,378
25,256,657,420
22,907,857,405
23,0S7,956,388
20,215.145.550
18,384.046,654
17.616,680,056
15.570.851,851
13,287.102,263
13,179,255,183
14,265,522,880

%
+ 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
— 9.4
+ 10.8
— 0.8
+ 14.2
+ 10.0
+ 4.3
+ 13.2
+ 17.2
+ 0.8
— 7.6
+ 2 .4

$
159.808.640,986
143.909.448.441
112,449,664,015
109,209.187,764
118.023.298.740
118,410.015,182
86.070,549,683
94.047.400,783
68,826.557,324
57,229,070.956
51.246,323.839
53.180,700,764
45.460.058.609
54.143.527,108
61.919,126,622
56,657.179.617
60,546.563.997
56.110.250.455
49.484.584,175
51.091,236,324
49.247.681.466
41.439,303,599
'44.165.126.355
51.699.823.752

%
+ 11.0
+ 27.7
+ 3 .0
— 7.4
— 0.4
+ 3 7 .6
— 8.5
+ 3 6 .6
+ 20.2
+ 11.7
— 3.7
+ 16.6
— 15.9
— 12.5
+ 9.5
— 6.4
+ 7.9
+ 13.4
— 3.1
+ 3.8
+ 18.9
— 6.1
— 14.6
— 15.0

It will be seen from the foregoing that in both 1903
and 1902 New York showed losses while the rest of
the country recorded gains. On the other hand, in
1905 New York, recovering its previous losses, had
36.7% gain, while the rest of the county had only
13.9% increase. Another circumstance with reference
to the outside clearings is wrorth alluding to. In these
outside clearings the course has been uninterruptedly
upward year by year since 1896, when doubts regard­
ing the country’s standard of values was definitely
removed as a result of the Presidential election of that
year. The amount and ratio of the gain has varied
considerably from year to year, accordingly as con­
ditions were extremely or only partially favorable;
but the ga n itself has been continuous. As a conse­
quence the outside clearings in 1906 reached 55,132
million dollars, as against only 38,982 millions in 1901
and but 22,375 millions in 1896. As Stock Exchange
speculation is so much less a factor at the outside
cities, the prodigious growth shown in their totals is
a highly significant fact, reflecting the growth in popu­
lation and in manufacturing and mercantile trade in
all parts of the country.
With reference to New York, Stock Exchange specu­
lation is always a factor present in bank clearings.
And during 1906 the share dealings on the Stock
Exchange, as already indicated, were of extraordinary
magnitude. It is true that most of the dealings in
stocks on the Exchange are now cleared through the

J a n . 12 1907. |

Stock Exchange Clearing House, and hence such
dealings do not directly enter into the volume of bank
exchanges. Nevertheless, as we have many times
pointed out, indirectly Stock Exchange business does
affect very materially the course and volume of bank
exchanges. For the purpose of indicating the course
of Stock Exchange speculation for a long series of
years past, we present the following table:
NU M B ER AN D V A L U E OF SH A R E S SOLD A T N E W Y O R K STOCK
EXCHANGE.

Year.
1906
1905
1904
1903
1902
1901
1900
1899
189S
1897

.
.
.
.
.
.
-

Stocks,
Shares.
284,298,010
263.0S1.156
187.312,065
161,102,101
188,503,403
205,944,059
138.3S0.184
170,421.135
112,699,957
77,324,172

Aver.
Values
Price. (approximate)
94.2
87.3
69.9
73.2
79.9
79.0
69.2
78.6
72.7
67.0

S
23,393,101,482
21,295,723,688
12,061,452,399
11,004,083,001
14,218,440,083
20,431,900,551
9,249,285,109
13,429,291,715
8,187,413,985
4,973,553,005

Year.
1896
1S95
1894
1893
1892
1891
1890
1889
1888
1887

.
.
.
.
.
.

Stocks.
Shares.
54,654,090
66,583,232
49,075,032
80,977,839
85,875,092
69,031,689
71,2S2,8S5
72,014,600
65,179,106
84,914,016

Aver.
Values
Price. (approximate)
65.2
60.3
64.2
60.3
63.5
57.1
60.2
61.0
62.5
61.1

S
3,329,969,940
3,808,338,604
3,094,942.769
4,550,260,916
4,874,014,202
3,812,247,419
3,977.064,193
4,059,231,891
3.539,519,143
4,508,778,899

Scrutiny of the foregoing table reveals that in every
way Stock Exchange business during 1906 was of un­
exampled magnitude. Altogether the sales reached
284,298,010 shares, as against 263,081,156 shares in
1905 and only 161,102,101 shares in 1903. The
n'.imber of shares dealt in does not always furnish a
clear indication of the course of the dealings, for these
share transactions may be made up more largely in
one year than another of $50 shares. The par value
of the shares affords a much better guide. This item
is not contained in the above table, but referring to a
statement given on page 22 of the issue of our “ Bank
and Quotation” Supplement of last Saturday, it is
found that the nominal or par value of the share sales
was 24,843 million dollars for 1906, against 24,400
millions in 1905, 17,393 millions in 1904 and 15,028
millions in 1903. On this basis there is very little
difference between 1906 and 1905, but a very marked
difference as compared with 1904 and 1903. When
we have regard to market values, which is perhaps the
best guide of all, the comparison is much the same,
the total for 1906 being 23,393 millions, against 21,295
millions in 1905, but as against only 12,061 millions
in 1904 and 11,004 millions in 1903. This serves to
reveal why the gain in bank clearings in 1905 was so
much larger at New York than elsewhere, and also
why in 1906 the ratio of increase was very much like
the increase for the rest of the country, New York City
showing simply a normal addition in accord with the
development and expansion in trade for the country
as a whole.
We have stated that the course of stock prices in
1906 was not upward. In this we have reference to
the market as a whole. In the great majority of cases
the highest prices were made in the early months.
Yet there were exceptions to the rule, as always hap­
pens, and some of these exceptions were very con­
spicuous instances of their kind. Take Union Pacific,
for example. This sold at 138^ in May, but in Sep­
tember, on the announcement of the increase in divi­
dend to a basis of 10% per annum, the stock moved
up to 195%. Similarly some of the other Pacific
stocks made striking advances. A table was given in
our “ Quotation” Supplement last Saturday (page 22)
showing the course of prices for all the leading groups
of stocks.
Another characteristic of Stock Exchange specula­
tion in 1906 should not be overlooked. While the
share sales were by far the largest ever reached, the
bond sales were on a small scale. There was very



75

THE CHRONICLE.

little doing in bonds all through the year—and -this
was even more conspicuously true of the dealings
over the counters of bankers and bond houses than of
those on the Exchange. No doubt one reason for the
inactivity was the tension which prevailed in the
money market most of the year. Because f this
and the activity of trade, more remunerative employ­
ment for money was to be had than by making invest­
ments in bonds. The annexed statement shows the
details of the stock and bond sales for the last two
years.
Twelve Months. 1905.

Twelve Months, 1906.
DescripVn
P ar Value i
or Quantity, j

Actual
Value.

Aver, P a r Value
|Price or Quantity.

Aver.
P rice .

Actual
Value.

St’lcJ Sh’s263,081,156
284,298,010|
\Val_ $24843,521,975 323393,101.482 94.2 324400,096,780 S21295,7^3,688 87.3
R R .b on d s S605,554,200 S590,833,750 97.6 $815,716,200 S768.299.701 94.2
$1,189,120
S I,273,672 107.1
G ov’ t bds.
$1,809,800
$1,988,334 109.9
State bds.
367,588,850
$61,694,258 91.3 $207,513,450 $191,797,918 92.4
$858,300
B ’k stocks
$2,070,957 241.3
$728,500;
S I,405,953:193.0
T o t a l. . $25519,206,325 S24049,023,777. 94.2 $25425,373,S50 $22259,165,936 87.5
446,016,820 93J4C.
Grain, bu.
448,109,250
367,824,860| 82c.; 478,432,825
_________l$24416,S48,337 ................................... $22705,182,756
1
1
I

The dealings in stocks were more evenly distributed
between the different quarters of the year than is
usually the case, as will appear from the table we now
introduce, giving the share transactions by months and
by quarters for each of the last two calendar years.
SALES OF STOCKS A T T H E N E W Y O R K STOCK EX C H A N G E .
1905.

1906.
M 'th

Number
oj
Shares.

Number
01
Shares.

Values.
Par.

Actual.

Values.
Par.

Actual.

$
$
$
s
i
Jan _ 38,512,548 3,513,808,700 3,333,481,49S!20,792,558 1,931,154,400 1,374,870,687
Feb . 21,699,800 1.968,990,600 1,831,598,764 25,239,0S8 2,323,637,850 2,014,562,018
Mch. 19,467,684 1,729,841,900 1,591,417,29029,138,83S 2,708,955,975 2,178,193,156
Istqr
A p r.
M ay.
June

79,680,032
24,330,919
24,026.049
20.340.391

7,212,641,200 6,756,497,552 75,170,484 6,963,748,225 5,567,625,661
2.158,016,950 1,928,749.870;29,298,456 2,789,542.650 2,670,498,467
2,043,050,800 1,879,476,284120,517,560 1,911,014,550 1,758,624,018
1.744,464,300 1,503,947,68612,576,469 1,132,492,100 999,484,027

2d qr 68,697,359 5,945,532,050 5,372,173,840|62.392,485 5,883.049,300 5,428,007,112
6 m ’s 148377391
July. 16,346,221
A u g. 31,804,816
Sept. 26,018,270

13158,173,250
1,448,273,600
2,847,353,750
2.159,177,650

12128.671,392
1,310,479,810
2,701,479,028
2.155,974,863

137562 969
13.273,655
20,205,735
16,012,044

12796,797,525
1,214,488,750
1,836,932,200
M S S ,401,350

10990,232,773
1,075,487,631
1,646,410,47 8
1,335,798,49 7

3d qr 74,169,307j6,454,805,000j6,167,934,307 49,491,434 4,539,822,200 4,057,696,606
9 m ’s 222546 698^ 19612.978.250 18296.605,699
O ct . ;21,894,130 1,882,466,875‘ 1,795,498.764
N ov . il9 ,400,130 1,633,318,3001,625,498,740
Dec - |20,457,052jl,714,761,550|l,675,498,279

187054 403
17,674,807
26,823,550
31,528,390

17336,619,825 15053.929,379
1,634,368.380 1,458,976,410
2,469,764,700 2,178.330,407
2,959,343,875 2,604,487,492

4thqr.61.751.312 5,230,540,725 5,096,495,783 76.026,753|7,063,476,955:6,241,794,309
Year 284298 010|24843,524,975j23393,101,482;2630Sl,156j24400,096,780|21295,723,6S8

Not only did the bank clearings for the country as
a whole during 1906 far exceed those of all previous
years, but the different cities and sections of the
country nearly all enjoyed the same distinction.
Here is a table showing the course of bank clearings
at the leading cities for the last four years—both for
the full twelve months and for December, the closing
month.
B A N K CLEARIN GS A T LE A D IN G C IT IE S F O R D ECEM BER AN D TH E Y E A R .
— Decernber----------------- J an. 1 to Dee. 31
(000,000s
1900. 1905. 1904. 1903.
1906.
1904.
1903.
1905.
omittccl.)
3
3
$
3
$
S
$
$
New Y o r k ------------- 9,228 9,090 S.501 5,498 104,676 93,822 68,649 65,970
C h ic a g o --------------- 1,007
995
8,990
8,756
761 11,047 10,142
860
719
Boston --------------6.032
6,717
712
644
S,335
7,655
555
Philadelphia. —
5,842
5,776
668
6,929
623
494
624
7,687
St. Louis__________
2,793
2,510
272
2,890
261
259
234
2,973
P ittsb u rg h _______
2,506
2,063
2,357
230
2,041
228
203
167
San Francisco_____
1,835
1,535
1,998
1.520
203
170
140
134
Baltim ore . ______
1,290
1,445
1.128
1,172
120
131
131
98
Cincinnati........... ..
1,310
1,205
1,155
94
1,223
110
111
111
1,332
Kansas C ity______
1,198
1,075
100
95
1,098
110
128
802
838
____
63
Cleveland
70
62
775
694
75
1,020
828
116
903
New Orleans. . . _
112
114
971
114
741
80
991
95
843
Minneapolis______
914
102
97
529
46
650
L ou isv ille________
51
55
602
558
56
44
523
D etroit . .
49
56
670
526
598
57
40
409
394
36
43
Milwaukee . ____
493
430
45
31
34
349
37
P ro v id e n ce _______
357
38
397
381
O m a h a ______
40
38
33
398
394
46
504
443
Buffalo . .
32
30
327
321
36
28
351
396
34
31
316
St. P aul___________
343
309
41
27
419
33
29
345
320
35
317
27
366
Indianapolis..
30
D e n v e r ___
26
35
21
328
236
350
237
26
260
23
27
240
208
Richm ond
19
303
32
273
28
214
Memphis
28
248
261
31
29
302
Seattle_____ _____
486
207
43
20
222
18
14
162
H a r t f o r d ................
10
183
137
12
140
11
156
212
25
288
Salt Lake C ity____
33
16
156
17
Total __________ 13.524 13,798 12,254
Other cities..............
741
655
506

8,781 152,046 137,154 106,853 103,748
5,461
7,763
6,755
514
5,768

Total all .............. 14,205 14,453 12,820
Outside New Y o rk . 5,037 4,763 4,319

9,295 159,809 143,909 112,621 109,209
3,797 55.133 50,087 43,972 43,239

76

The most striking way, however, to indicate the
generally satisfactory condition of affairs during 1906
and the resulting further growth in clearings is to note
that out of the whole 108 cities which have clearing
houses and appear in our records, there are only six
altogether, namely Peoria, 111.; Jacksonville, 111.;
Canton, Ohio; Fargo, N. D.; Memphis, Tenn., and
Augusta, Ga., that report for 1906 a smaller total
of clearings than for 1905. A detailed statement
showing the clearings for the last two years at every
clearing-house city was published in the “ Chronicle”
of Jan. 5 1907, page 1.
We annex still another table to show the clearings
by months—both the totals for the whole country and
those outside of New York. It will be observed that
the ratios of gains were very large in the first quarter
of the year, more particularly during January and
February. Speculation was active on the Stock Ex­
change at that’ time, and furthermore the winter was
very mild, doing^away with many of the interruptions
to trade operations often encountered in these
months.
M O N TH LY C L EA RIN G S.
Clearings Outside New York.

Clearings, Total]All.

I

1906.

1905.

%

$
■
$
Jan___ 16,321,’500,279; 11,848,355.885 + 37.8
Feb - - 12,462,794,035110,650,663,817 + 17.0
Mch ._ 12,993,090,785i 12,918,414,969 + 0.6
41.777,385,099
12,884,433,514
13,218,402,167
12,230,933,383

80,111,154,168
11,639,986,823
13,131,717,908
12,497,458,868

S
5,083,299,601
4,138,370,511
4,615,856,596

1905.

+ 7.6 13,181,283,556 12,310,058,228

3d qr. 37,269.163,599 32,655,158,344 + 14.1 12,865.604,455 11,975,901,495
9 mos.
O ct . .
N ov . .
D ec - -

117380,317,767
14,529,267,229
13,633,923,602
14,265,132,388

+ 7.1

71.027,646,895 + 12.8 27,018,810,264 24,143,040.585 + 11.9
10,866,702,211 + 7.1 4,383,460,720 4.027,669,659 + 8 .8
10,902,728,326 + 2 0 .4 4,298,516,812 3,921,963,406 + 9.6
10,885,727,807 + 14.8 4,183,626,823 4,026,268,430 + 3 .9
+ 7.4

103682,805,230 + 13.2 39,884,414,719 36,11,8,942,080 + 10.4
12,624,016,403 + 15.1 5,185,224,067 4,598,003,486 + 12.8
13,149,940,260 + 3 .7 5,025,935,790 4,607,269,049 + 9.1
14,452,680,539 — 1.3 5,037,237,754 4,763,173.624 + 5.8

4th qr. 42,428,323,219 40,226,643,202

+ 5 .5 15.248,397,611 13,968,445,559 + 9.2

Y ea r. 159808,640,986 143909.448,441 + 11.0 55,132,812.330 50.087,388,239 + 10.1

In grouping the clearings for the different sections
of the country, a feature observed in previous years
is still in evidence. We mean that the largest ratio
of improvement is reported by the Far Western and
Pacific Coast group of cities. We all know that new
communities are springing up there and that industrial
progress is exceptionally marked in that part of the
country. Even San Francisco, notwithstanding the
dire suffering the city sustained through earthquake
and fire, shows pretty nearly 9% increase over 1905
in its clearings, following 19.6% increase in 1905 over
1904. At Los Angeles the 1906 gain is 20.6%; at
Portland, 23.1%; at Seattle, 61.4%. For the Pacific
group as a whole the 1906 increase is 19.6%, which is
much higher than the percentage of gain for any other
group or section. The Middle group shows 11.4%
increase, the New England 8.7, the Middle Western
8.9, the Southwestern and Northwestern 11.1 and the
Southern 8.3. It deserves also to be pointed out
that every group records an increase for every three
months period of the year—with a single exception.
This exception is the Pacific group, which in the sec­
ond quarter alone had smaller clearings for 1906 than
for 1905. The reason can be easily guessed—that was
the period when San Francisco was overtaken by the
calamity already referred to. The table we now
present gives the clearings by groups for each quarter
of the last six years.




Second
Quarter.

Third
Quarter.

S
27,939,858
23,584,452
14,925,334
18,431,542
17,785,364
19,911,550

S
25,152,486
23,300,154
14,203,962
17,266,076
19,125,518
24,823,104

$
24,403,559
20,679,257
15,204,667
14,933,887
19,215,156
16,058,613

1190G— 3,392,123
1905._ 2,844,150
1904-. 2,383,860
1 903.. 2,639,532
1902.. 2,444,287
L1001 — 2,279,335

3,415,476
3,107,080
2,452,473
2,816,282
2,670,375
2,702,260

3,166,43S
2,955,868
2,453,529
2,579,692
2,553,749
2,229,867

3,563,196
3,343,722
3,023,287
2,571.117
2,703,881
2,485.973

13,537,233
12,250,820
10,313,149
10,606,623
10,372,292
9,697,435

C1906-1 90 5..
New Y o r k ----------H1604-1903..
1902..
t1901—

Total other
M id d le_______

Fourth
Quarter.

Total
Year.

S
%
27,179,926 104,675,829
26,258,197 93,822,060
24,315,456 68,649,419
15,338,833 65,970,338
20,202,151 76,328,189
18,634,419 79,427,686

f 1906_
1905—
T otal
1904..
New England . 1903-1902-11901—

2,456,888
2.10S,959
1,823,408
1,979,663
1,974,918
1,995,055

2,277,983
2,166,457
1,855,803
1,949,568
1,986.155
2,178.406

2,138,411
2,040,844
1,724,455
1,809,820
1,862,025
1,887,098

2,572,452
2,373,469
2,149,955
1,925,734
2,056,734
2,036,168

9,445,734
8,689,729
7,553,621
7,664,785
7,879,832
8,096,727

f1906—
1905—
Total
1904..
Middle W e s t .. 1903-.
1902-.
L1901—

3,963,588
3,529,952
3,196,662
3,204,523
3,034,387
2,590,112

3.920,673
3,603,571
3,234,262
3,289,499
3,092,033
2,870,985

3,829,131
3,553,411
3,226,923
3,178,494
3,037,707
2,799,467

4,330,109
4,051,192
3,627,978
3,399,002
3,242,836
3,110,955

16,043,501
14,738,120
13,285,825
13,071,518
12,406,963
11,371,519

[1906—
1905._
Total Pacific____ 1904-190 3..
190 2..
1901-.

1,048,785
750,759
641.3S0
635,979
528,436
433,886

797,997
836,752
649,232
632,349
561,746
469,001

1,044,472
889,357
675,988
656,104
586,180
495.928

1,262,383
996,156
794,871
727,042
696,561
574,891

4,153,637
3,473.024
2,761,471
2,651,474
2,372,923
1,973,707

r1906-_
1905.Total
1904-other W est____ 1903-1902-1 90 1..

1,035,241
899,463
842,147
793;462
771,439
652,104

1 012,388
925.623
782,080
800,884
737,462
689,388

1,028,123
938,956
843,551
817,497
782,528
733,408

1,275,512
1,151,042
1,049,224
963,548
921,538
877,770

4,351,264
3,915,084
3,517,002
3,375,391
3,212,967
2,952,670

190 6..
1 905..
Total S outhern.. 1904..
1 903..
190 2..
1901..

1,940,902
1,699,700
1,762,9S1
1,455,266
1,362,414
1,193,091

1,756,766
1,670,575
1,448,075
1.368,228
1,346,781
1,180,193

1,659,030
1,597,465
1,412,180
1,328,901
1,235,672
1,086,644

2,244,745
2,052,865
1,917,290
1,716,664
1,505,265
1,430,343

7,601,443
7,020,605
6,540,526
5,869,059
5,450,132
4,890,271

H 906-11905._
190 4..
•1 90 3..
11902..
11901..

41,777,385
35,417,435
25,575,772
29,139,967
27,901,244
29,055,133

38,336,769
35,610,212
24,626,087
28,122,886
29,521,072
34,913,337

37,269,164
32,655,158
25,551,093
25,304,395
29,272,016
25,291,026

42,425,323
40,226,643
36,868,061
26,641,940
31,328,967
29,150,519

159,808.641
143.909,448
112,621,013
109,209,188
118,023,299
118,410,015

C1906-190 5..
Outside
1904._
New Y o r k ------ -I1903-1902-.
.
11901--

13,837,527
11,832,983
10,650,438
10,708,425
10,115,880
9,143,583

13,181,283
12,310,058
10,421,925
10,856,810
10,395,553
10,090,233

12,865,605
11,975,901
10,346,425
10,370,508
10,056,861
9,232,413

15,248,397
13,96S,446
12,552,806
11,303,107
11,126,815
10,516,100

55,132,812
50,087,388
43,971,594
43,238,850
41,695,109
38,982,329

%

S
4,113,631,330 + 2 3 .6
3,532,344,555 + 17.2
4,187,006,472 + 10.2

35,417,434,671 + 18.0 13,837,526,708 11,832,982,357 + 16.9
12,735,232,015 + 1.2 4,341,197,947 4,054,435,555 + 7.1
12,059,910,393 + 9.0 4,425,373,088 4,175,862,976 + 6.0
10,815,069,816 + 13,1 4,414,712,521 4,079,759,697 + 8.2

2d qr. 38,333,769,069 35,610,212,224
6 mos.
J u ly ..
Aug - .
S e p t ..

1906.

V im ?
Quarter.

Clearings Reported. £
(000s omitted.)

Month.

1st qr.
April .
M ay. June .

[Vol. lxxxiv.

THE CHRONICLE,

Total all________

With reference to speculation on the mercantile
exchanges, there are few reliable data. No official
record is furnished of the amount of sales on the
Cotton Exchange, and hence it is not possible to indi­
cate the extent of the transactions or to make com­
parisons with the years preceding. On the Produce
Exchange the volume of business appears to be
steadily contracting. In this case, too, no official
data of the dealings are available, but, following our
practice of previous years, we have made up from the
figures given from day to day in the daily papers cer­
tain results which ought to furnish a fairly close ap­
proximation to the actual totals. From these re­
sults it appears that the total of the grain sales (spot
and options) in 1906 amounted to only 448 million
bushels, against 478 million bushels in 1905 and 627
million bushels in 1904. A synopsis of the transac­
tions in quarter-year periods is furnished in the fol­
lowing:
SALES O F F L O U R , W H E A T , & c., A T N E W Y O R K P R O D U CE E X C H A N G E .
(Tw o ciphers (00) om itted trom figures for W heat, Corn, Oats, Barley and R y e.)

| Flour.
1st quarter, 19061905.
1904.
1903.
1902.
1901.
2d quarter. 1906.
19051904.
19031902.!
19013d quarter. 19061905190419031902.
19014th quarter, 1906.
1905.
1904.
1903.
1902.
1901.

Wheat.

Com .

Bush
Bbls. : Bush.
1.016.600 81,577 ,0 6,612
867,800106,571 ,0 9,817
586.100 204,906 ,0| 7,116
559,900: 88,901 ,0:20,302
549.300 139,082 ,015,459
658.800jl28.288 ,0 14,458
1,089.200 109,450 .0 5,748
967,500 105,900 ,0| 6,624
464.100 107,831 ,0 4,017
656,900 126,981 .0! 17,675
483.100 162,665 ,013.159
719,200 200,270 ,0 23.279
1.109.600 109.082 ,0 3,641
1,223,850 109,688 ,0j 8,502
576.400 137.977 ,0 7,135
623,900:128,953 ,0 12,053
473.000 133,025 ,0 13,090
702,250 213,899 ,0 27,176
913,100; 96,689 ,0 2,983
1.059,700 87,748 ,0 6,152
728.400 116,288 ,0 7,629
626.000 104,437 ,0 9,534
553,600100,392 ,0 18,501
557.100 200.470 ,018,035

Oats.

1 Barley
& M alt.

R ye.

Total.

Bush. \ Bush. Bush . j Bush.
40, 0: 97.238.700
3,696,0;
739 ,0
3,039,0;
25 .0, ------ - 123,357,100
60 ,0 ---- .220,634,450
5,855,0j
94, 2 120,043,750
7,982,0: 245 ,0'
40, 0 162,090.850
200 ,0;
4,838,0!
0’153,342,600
,0
86,
405
7.141.0
134 ,0: 192, 0 125,084.400
4.659.0
70 ,0; ------ _;120,522,750
3.575.0
2 0 119,046,450
5,108,0'
9,034,0! ‘ 100 ,0 1,174 0 157.920,050
..1 ,4 2 0 0 187,991.950
8.574,0:
,0; 318 0 233,984.400
6.849,0!
_jl20.319,200
120
2.583.0,
,0i 129,246.325
109
5,160.0;
60 ,0; ---■ . 153,704.800
5.939.0
569 ,0 107 0;151,478.550
6,989,0!
360 ,0i 558 ,0155,864,500
6.703.0
205 ,0! 300 ,0 252,452,125
7.712.0
6 ,0 105,466,950
1,680,0;
5 0105,306,650
4,887.0; 1.746 ,0;
565 ,0 ---- 133,993,800
6.224.0.
65 ,0; ___ -1124,204,000
7,351.0;
468 ,0 938 ,0 130,211,200
7.421.0
44 ,0229,736,950
525 ,0
8,150,0;

” 32"
,0 --,0 2S0

993,0; 238,0 448,109.250
T otal 1906— — 4,128,500 396,798.0 18.884,0 12.618.0;
”
1905— — 4,118,850 409,907,031,095,0 16,661,0 1,950,0; 285,0 478.432.825
685,0; ......... 627,379,500
1904— — 2,355,000 567,072.0 25,897,0 23,126,0;
979,0 1,375.2 553,646,350
•• 1903— — 2,466,700 449,272,0,59,564,0 31.356,0
•• 1902— __ 2,059,000 535,164,060.209,0 27,536.0 1,028.0 2.956,0636,158,500
1901— --J 2 .6 3 7 .3 5 0 742,927.0 82.948,0 29,858.0, 1,167,0 748.0869.516,075

THE CHRONICLE.

J a n . 12 1907.]

ITEMS ABOUT BANKS, BANKERS AND TRUST CO.’S.
— The public sales of bank stocks this week aggregate 85
shares, of which 80 shares were sold at the Stock Exchange
and 5 shares at auction. The transactions in trust com­
pany stocks, all auction sales, reach a total of 70 shares and
include the first public sale of Carnegie Trust Co. stock, of
which 50 shares were sold at 200.
S h ares. B A N K S — N ew Y o rk .
L ow .
5
C ltlzen s-C en tra l N a t. B a n k . 145
x80 C om m e r c e , N a t. B a n k o f . _ . 1 8 2 ^
T R U S T C O M P A N I E S — N ew Y o rk .
50 C arn egie T r u s t C o ___________ 200
20 L in c o ln T r u s t C o ____________ 395J^

H ig h . C lose.
L a st p revio u s sale.
145
145
S e p t. 190 6—- 145
183
183
D e c.
190 6— 181
200
395K

200
395

F irst s a le .
N o v . 190 6—

396 y2

x S o ld a t N ew Y o r k S t o c k E x ch a n g e .

— Two opinions rendered this week settle definitely the
status of the stock transfer tax of this State. In the case
of Albert J. Hatch, who sought to test the validity of the
law of 1905, which imposes a tax stamp of 2 cents on ‘ ‘each
hundred dollars of face value or fraction thereof,” the
United States Supreme Court on Monday sustained the
decision of the New York Supreme Court, the Appellate
Division, First Department, and the New York Court of
Appeals, upholding the constitutionality of the law. The
other decision this week was handed down by the Court of
Appeals at Albany in the case of Irving K . Farrington.
This declares the amendment to the stock transfer tax,
which became operative last May, to be unconstitutional.
Under the amendment a 2-cent tax was required on each
share of one hundred dollars of face value or fraction thereof,
instead of on “ each hundred dollars of face value or fraction
thereof,” as specified in the law as originally passed. The
decision was unanimous,and holds the Act unconstitutional
on the ground that it denies to the transferrers of the stock
of the par value of less than S100 per share the equal protec­
tion of the law within the meaning of the Constitution.

77

are: Richard Young, A . P. Heinze, O. F. Thomas, Chester
Glass, Stanley Gifford, Max H. Schultz and F. Augustus
Heinze. The other members continuing include: W . F.
Carlton, William Ballin, John F. Kehoe, Seth M. Milliken,
C. W . Morse, H . F. Morse, M. M. O’Brien, Dick S. Ramsay,
William Skinner, E. R. Thomas, R. M. Thompson and
Warner Van Norden.
— Interests identified with the Bank of Discount, this
city, of which Joseph G. Robin is President, in conjunction
with those of the Northern National Bank, in which three
representatives of F. Augustus Heinze were elected directors
on Tuesday, have purchased control of the Riverside Bank,
corner Eighth Avenue and 57th Street. The business
of the Bank of Discount will be taken over by the Riverside
Bank, and the Northern National Bank, upon surrendering
its national bank charter, will be continued as a branch.
The Bank of Discount has $100,000 capital, $48,207 surplus
and $339,927 deposits; the Northern National $300,000
capital, $240,901 surplus, $1,686,123 deposits; and the
Riverside Bank $100,000 capital, $108,842 surplus, $1,909,900 deposits. The following constitutes the board of the
Riverside Bank: from the Bank of Discount board: Joseph
G. Robin, James T. Wood, William P. Young, Stanley
Gifford, Paul T. Brady and William L. Brower; from the
old Riverside board: Charles N. Taintor, John J. Clancy and
George W . Plunkitt; from the Northern National Bank,
Henry Dimse. The board will soon be increased from ten
to fifteen members. The officers are: President, James T .
Wood; Vice-Presidents, Charles N. Taintor (former Presi­
dent Riverside Bank) and William L. Brower; Cashier,
Henry H. Bizallion. Henry Dimse, late President of
Northern National Bank, was elected Chairman of the
Executive Committee.

— A consolidation of the Irving National and the New
— In answer to an inquiry made in behalf of the projectors York National Exchange banks of this city, talked of more
of a company to be formed in Iowa for the purpose of insuring than a year ago, reached tangible shape on Tuesday, when
bank deposits, Attorney-General C. W . Mullan of that State the boards of the respective banks passed resolutions with
has decided that bank deposits are not the subject of insur­ a view to merging the business of the two banks. The pro­
ance under Iowa laws, and therefore the formation of such posed merger, it is understood, was brought about through
a company would be illegal. Mr. Mullan in his opinion says the acquisition of a controlling interest in the Irving by
a careful examination of the provisions of the statute relating nterests identified with the Hanover National, which, it is
to insurance “ fails to disclose any authority given by statute believed, controlled the New York National Exchange. The
to insurance companies transacting business in this State Irving National Exchange Bank is to be the name of the
to insure depositors against loss caused by the failure of the institution growing out of the combination. It is to have
bank in which deposit is made through the dishonesty of its a capital of $2,000,000, a surplus of $1,000,000 and total
officers or employees, or from other cause. Under a familiar resources of $22,000,000. Lewis E. Pierson, the present
rule of law the naming of the character of risks which may be executive of the New York National Exchange Bank, will
insured against excludes all others, and as no authority is be President of the consolidated bank, and will be associated
found in the statute for the insurance of bank deposits, it with Charles L. Farrell, Rollin P. Grant and J. E. Nichols
follows that such risks are excluded by the law-making power as Vice-Presidents and Benjamin F. Werner as Cashier.
of the State, and that no insurance company authorized to The quarters of the New York National Exchange Bank will
transact business under the laws of this State is authorized be occupied by the successor bank. Both the Irving and
under our statute to enter into a contract of insurance of the New York National Exchange have a capital of $1,000,that character. Bank deposits are therefore not the subject 000. Mr. Pierson assumed the presidency of the last named
institution in January 1904; the previous year, January 1
of insurance under the laws of Iowa.”
— Many important and unexpected changes occurred in 1903, its capital stood at $500,000, surplus and profits at
the control and personnel of the banks in this city at the $368,340, deposits at $6,659,561 and assets at $8,108,902.
annual meetings of the stockholders and directors last On January 1 1906 the capital was $1,000,000; surplus and
-Tuesday. Especial interest centres in the admission of profits, $910,900; deposits, $9,940,476; and assets, $12,F. Augustus Heinze into the Mercantile National Bank, 254,100. The November 12 1906 statement, the last issued
the resignation of E. C. Converse, President of the Liberty by the bank, was the best in its history, showing deposits
National Bank, and the selection of F. B. Schenck, the of $11,648,639 and total resources of $14,230,499.
Until the consolidation has been completed, Charles L.
former President of the Mercantile National Bank, to suc­
ceed him, the consolidation of the Bank of Discount and Farrell will serve as President of the Irving, he having been
Northern National Bank with the Riverside Bank, and the elected to the office this week, succeeding Samuel S. Conover.
consolidation of the New York National Exchange Bank with The latter is interested in the formation of a new trust
company which is to be organized by some of the former
the Irving National Bank.
— The election of the Mercantile National Bank resulted directors of the Irving National. The institution will be
in the retirement of the Gould interests, the direction of known as the Irving Trust Company; it will have a capital
the institution resting in the control of F. Augustus Heinze, of $500,000, and will have offices in Chambers Street, be­
O. F. Thomas, E . R . Thomas and Charles W . Morse. Mr. tween Broadway and Greenwich.
Interests in the consolidated Irving National Exchange
Heinze was accordingly by unanimous vote elected Presi­
dent, succeeding F. B. Schenck; Miles M. O’Brien was re­ Bank also purpose establishing a trust company with half a
elected Vice-President and E . R . Thomas and Chester Glass million capital. This concern will make use of the quarters
of the Irving National.
were elected new Vice-Presidents. Emil Klein was appoin­
ted Cashier, succeding James V. Lott, who becomes Cashier
— The election on Tuesday of Frederick B. Schenck as
of the Liberty National Bank, and A . W . Da}r was re­ President of the Liberty National Bank of this city was
appointed Assistant Cashier. The board of directors was one of the principal changes made at this week’s annual
reduced from thirty-one to nineteen .CriieYnewgdirectors meetings. Mr. Schenck’s election to the presidency of the




78

THE CHRONICLE.

Liberty followed his withdrawal as a candidate for re-election
as President of the Mercantile National, in which it became
known on Monday that F. Augustus Heinze had become a
dominant factor. Mr. Schenck had been connected with the
Mercantile National for twenty-six years. As head of the
Liberty National he succeeds E. C. Converse, who, however,
continues as a member of its board. Charles Steele, of J. P.
Morgan & Co., has resigned as a director of the Liberty,
being replaced by Mr. Schenck. Further changes were
made in the Liberty National on Wednesday, when Charles
W . Riecks, formerly -Cashier, was elected Second VicePresident, and James V. Lott, formerly Cashier of the Mer­
cantile, was appointed to succeed Mr. Riecks as Cashier
of the Liberty. Charles H. Stout and^Daniel G. Reid con­
tinue as Vice-Presidents of this bank.
— The plan to increase the capital of the Chemical National
Bank of this city, mentioned in our issue of Dec. 15, was rati,
fied by the stockholders on Tuesday. The bankTwill raise
its capital from $300,000 to $3,000,000 through the payment
of a special equalizing dividend of 900% from surplus.
Joseph B. Martindale, Assistant Cashier, who was added to
the bank’s directorate at Tuesday’s meeting, was elected
Vice-President of the institution the following day. At
the same time Herbert K . Twitchell (formerly of the Chase
National) and Edward H . Smith were appointedJAssistant
Cashiers. William H . Porter continues as President and
Francis Halpin as Cashier.
— Edwin A . Lee and William E. Purdy were appointed
Assistant Cashiers of the Chase National Bank^of^this city
on Wednesday. Herbert Iv. Twitchell resigned^as^an As­
sistant Cashier to take a similar office in the Chemical Na­
tional.
— Richard I. Brewster was elected Secondj Vice-President
of the Fourteenth Street Bank of this city on Tuesday. The
other officers were re-elected, viz.: R. Ross Appleton, Presi­
dent; John F. Carroll, First Vice-President; P. M. Sayford,
Third Vice-President, and Louis V. Ennis, Cashier. New
directors are Herman Heidelberg, Louis V. Ennis and P. M.
Sayford. The bank will increase its capital next month from
$500,000 to $1,000,000. It has deposits of/nearly $8,000,000.

— T. Shepherd Strong Jr. has been elected an Assistant
Cashier of the Consolidated National Bank of this city. New
directors in the bank are F. Augustus Heinze, Cornelius N.
Pugsley, C. H. Livingstone, Samuel B. Dick and A. De
Ronda. Retiring directors are E. G. Burgess, R. II. Lynn and
A. W . Thompson.
— Among the changes made in the boards of directors of
the various local banking institutions, not noted elsewhere
in this department, were the following:
T h e P lie n U N a tio n a l e le cte d t o Its b o a r d H e n r y W . D e F o re st a n d E d w in
A . P o t t e r , P resid en t o f th e A m e r ic a n T ru st & S a v in gs B a n k o f C h ica g o .
O n e o f th e new m em b ers tak es th e p la c e o f H e n r y W . E a to n .
-j
F . A . V a n d e r lip w as ch o s e n as a m e m b e r o f th e b o a r d o f th e~ N atlon al
C ity B a n k t o s u cce e d th e la te J o h n A . M cC all.
In th e H a n o v e r , W illia m C. D u n c a n w as c h o s e n as su cce sso r t o th e late
S am u el S p en cer.
D a n iel B a rn es, P re sid e n t o f th e S e a m a n ’ s B a n k fo r S a v in g s , re p la ce s
th e la te W illia m C. S tu rges o n the. b o a r d o f th e M e ch a n ics ’ N a tio n a l, o f
w h ich W illia m A . J a m iso n o f A r b iic k le B ro s , has also b e c o m e a d ire cto r.
M orga n J. O ’ B rien is su cce sso r t o th e la te Ja m e s H . B reslin o n th e b o a rd
o f th e G arfield N a tion a l.
P lin y F isk w as e le cte d t o th e d ir e cto r a te o f th e A m e r ic a n E x ch a n g e N a ­
tion a l B a n k .
In th e C itizen s’ C en tral N a tio n a l B a n k , Carl F . B o k e r o f H e rm a n B o k e r
& C o. a n d F r e d e r ic k T . F le itm a n n w ere a d d e d t o th e d ir e cto r a te .
In th e N o rth e r n N a tion a l W illia m B a llln , S ta n le y G ilfo r d , P aul T . B r a d y
and Cassius M . W ic k e r .were e le cte d t o th e b o a r d t o fill v a c a n c ie s .
In th e A e tn a N a tio n a l new m e m b e rs are F . D . H u y le r , W . S . P itc a ir n ,
W illia m E n d e m a n n , G eo rg e N o a k e s a n d .W . H . N o y e s , th ese re p la cin g
H o ra ce G ra n field , J os ep h H . E v e r e t t , Ja m e s D e n n iso n , H e n r y R a p h a e l
and E . V . C o n n o lly .
..............................j ♦. •rjj.-JVvK.y.iy •
G eorg e E . K e e n y , P resid e n t o f th e H a r tfo r d L ife In su ra n ce C o m p a n y ,
w as e lected t o th e b o a r d o f t h e O rien tal B a n k t o All a v a c a n c y .
; -j
In t h e M e tro p o lita n B a n k , B r a d le y L . E a to n w as a d d e d t o th e d ir e c ­
t ora te.
F re d e rick G . K in s m a n a n d F ran cis G . L lo y d w ere c h o s e n t o fill va ca n cie s
Jn th e d ir e cto r a te o f t h e H a m ilto n B a n k .
In th e G reen w ich B a n k , H e n r y H e ld e , W illia m A . H a w e s a n d W a lte r
G . N els on are su ccessors t o F . T ilfo r d , H e n r y R o w le y a n d J . H arsen
R h oades.
A lfr e d H . P o s t o f A . H . P o s t & C o . has b e e n a d d e d t o th e b o a r d o f th e
B a tt e r y P a rk N a tion a l B a n k .
In th e C e n tu ry B a n k , E d w a r d J. C rok er w as a d d e d t o th e b o a r d .
E d w a rd T o w n s e n d , P resid en t o f t h e Im p o r te r s ’ & T r a d e rs ’ N a tio n a l B a n k ,
has been e le cte d a d ir e cto r o f th e B a n k e rs’ T ru s t C o m p a n y .
W . A . S im on son has be e n ch o se n t o s u c c e e d G eorge S h e rm a n , r e tire d ,
o n th e b o a r d o f th e S e c o n d N a tio n a l B a n k .
E . H . B easlee is an a d d itio n a l
d ir e cto r .
W . P . C h a p m a n Jr. an d A . Saks re p la ce H . N . F ell a n d C. E . B rain e as
d irectors o f th e T h ir t y -fo u r t h S treet N a tio n a l B a n k .
H en ry R . Ick elh elm er o f H e ld e r b a ch , Ick e lh e lm e r & C o ., has b e e n ele cte d
t o th e d ir e cto r a te o f th e F ifth A v e n u e B a n k , su c c e e d in g th e la te E d w a rd
A . P r ic e .
. .
j - u - J t - „•

— At the Importers’ and Traders’ National Bank of this
city, John J. Walton and P. B. Worrall were chosen directors
to succeed the late Russell Sage and Edward A . Price,
deceased. Adolph Lewisohn was added to the board.




[V o l .

l x x x iy

— Oakleigh Thorne, President of the Trust Company of
America, 135 Broadway, has acquired a controlling interest
in the Colonial Trust Company, which will soon be consoli­
dated with the Trust Company of America. John E . Borne,
President of the Colonial Trust Co., and several of its trustees,
will be elected to the board of the Trust Company of America
when the stockholders of the latter meet on Jan. 16. Mr.
Borne will be chosen Chairman of the Executive Committee
of the Trust Company of America. The arrangement
whereby Mr. Thorne acquired his interest in the Colonial
was entirely friendly; both sides considered the strengthened
position brought about by such a combination of greater
mutual advantage than the continuance of the Colonial as a
separate institution. While Mr. Thorne and Mr. Borne will
preside as President and Chairman of the Executive Com­
mittee, both of them will devote their entire time and atten­
tion to the united institution. The minority stockholders
of the Colonial Trust Co. have received the Trust Company
of America’s offer to take over their holdings at $400 per
share by exchanging them for 50% in stock of the Trust Com­
pany of America. President Borne advises the Colonial
stockholders’ acceptance of the offer, as the Trust Company
is paying 40% in dividends annually, which will return the
Colonial Trust Company shareholders the equivalent of 20%
on their present stock. The Trust Company of America is
erecting an immense “ skyscraper” at 39 to 47 Wall Street,
which should be ready for occupancy about May 1. The
present offices of the Colonial Trust at 222 Broadway are
to be operated as a branch. In acquiring the Colonial Trust,
the Trust Company of America will not increase its stock.
The deposits of the new institution will be about $70,000,000;
capital, $2,000,000, and surplus not less than $10,000,000.
The Colonial Trust was organized in 1897. It reported $25,203,944 deposits on Dec. 31, $1,605,344 undivided profits,
$500,000 surplus, $1,000,000 capital and $28,472,039
aggregate resources.
— Arpad S. Grossman, Treasurer of the Colonial Trust
Company of this city, died at his home, Montclair, on the
7th inst.
— A new State bank, to-be known as the Alliance Bank of
the City of New York, has been organized by A. A. Lisman
and his associates for the Borough of the Bronx. It will be
located on Westchester Avenue in the Village of Westchester,
and will have a capital of $100,000 and a paid-in surplus of
more than $50,000. The institution is to open branches
throughout the Bronx. E . H. Rosenquest, President of the
Bronx Borough Gas & Electric Co., will be at the head of the
institution.
— Owen E. Paynter was appointed an Assistant Cashier
of the Merchant’s National Bank of this city on Thursday.
— The proposition to reduce the capital of the Common­
wealth Trust Company of this city from $500,000 to $250,000,
referred to Dec. 29, was ratified by the stockholders on
Tuesday, the 2d inst.
— R. Ross Appleton, receiver of the Cooper Exchange
Bank of this city, has been authorized to pay a dividend of
1 2 H % to the bank’s depositors. This distribution makes
an aggregate of 8 7 ^ % , made in three payments— a 50%
dividend in January last, 2 5% in the summer and the
present dividend of 1 2 ^ % . The institution suspended on
October 10 1905.
— The Russo-Chinese Bank, head office St. Petersburg,
will open a regular agency in this city, commencing business
on Monday, Jan. 14, at Nos. 50-52 Pine Street. It will be
under the management of W . Ivutzleb, who has been the
bank’s American representative for more than three years.
The bank has a paid-up capital and reserves amounting to
$16,500,000 and the balance sheet shows approximately
$160,000,000 assets. It has 50 banks and agencies through­
out Russia, China and Japan, as well as branches in London,
Paris, Calcutta and San Francisco. On its board of direc­
tors there appear such prominent international names as
J. Hottinguer of Messrs. Hottinguer & Co., bankers,
Paris; Ed. Noetzlin, Paris, member of the Board of the
Banque de Paris et des Pays-Bas, Banco Nacional de Mexico,
&c., and A. Wischnegradski, St. Petersburg, director of the
St. Petersburg International Commercial Bank and others.
— A charter was issued Dec. 24 for the European-American National Bank of New York. The institution is to have

J a n . 12 1907.]

THE CHRONICLE.

a capital of $200,000 with a surplus^of . 840,000, and will
have banking rooms at 187 Greenwich Street, Corner Dey
Street, opening for business, it is expected, next month.
The proposed bank is largely backed by railroad and steam­
ship interests. It will have connections with foreign bank­
ing houses and, located near Washington Market, expects to
draw patronage from meat and produce merchants. The
application to organize was presented by FrankfZotti of
Frank Zotti & Co., 108 Greenwich Street; Frank R. Marsh
of Port Chester; Lyman McCarty, Assistant General Passen­
ger Agent of the Baltimore & Ohio R R .; Charles S. Lee,
General Passenger Agent of the Lehigh Valley R R .; S. F. B.
Morse and William Grant Brown, the last named of the
law firm of Cantwell & Brown, 170 Broadway.
— Under the name of the Hungarian-American Bank,
there is being formed an institution which will serve
the Hungarian population of this city. The bank is
to be established by Eugen Boross, former Special Com­
missioner of the Royal Hungarian Minister of Agriculture,
who will have the support of a few local trust companies and
prominent bankers. The capital of 8100,000 will be in shares
of 8100, to be issued at 8200 each, giving a Surplus of
8100,000. The institution, will conduct a general banking
business with Hungarians here and abroad, particularly
attending to transfers of money to Hungarians traveling
to and from the United States, and of transfers for the pur­
pose of paying for machinery and other merchandise pur­
chased for Hungary in America. Among those who are
interested in the new bank’s organization are the following:
John Alvin Young, President of the Windsor Trust Company;
H . R. Wilson, President of the Lincoln Trust Company;
Le Roy Baldwin, President of the Empire Trust Company;
T. E. Morse, President of the American Trading Company;
Louis Ettlinger, of the American Lithograph Company;
H . C. Nelson, President of the First National Bank of Ossi­
ning, N. Y .; Rev. Louis de Kovacs, Perth Amboy, N. J.,
and Max Goebel, of the Jordan L. Mott Iron^Works.
— Prof. Hermann Schumacher, of the University of Bonn,
and Kaiser Wilhelm Professor of German History and Insti­
tutions at Columbia University, New York, lectured before
New York Chapter, American Institute of Bank Clerks, at
the New York University Building, 32 Waverly Place, on
Thursday evening, the 10th inst.
— The Farmers’ Loan & Trust Company (16 to 22 William
Street), of which Edwin S. Marston is President, reports the
largest deposits of any trust company in the city for the year
ending December 31 190G, the amount being 878,445,775.
On December 31 1905 deposits were reported at S70,577,988,
making a gain for the year of about eight million dollars.
Aggregate resources are now 888,096,786.

70

to name President of the bank, is understood to have with­
drawn his acceptance of the office. He is, however, one of
the incorporators of the institution.
— The Dec. 31 statement of the Lincoln Trust Company,
Madison Square, City, testifies to the continuous growth this
institution has enjoyed during the past year and since its in­
ception in 1902. The company’s deposits have increased
from 817,084,075 Dec. 31 1905 to 821,384,142 on Dec. 31
1906, a fitting comparison with 813,151,918 Dec. 31 1904
and 87,382,350 Dec. 31 1903. On the last day of the year
a quarterly dividend of 3 % was paid to stockholders. Be­
sides a capital of 81,000,000 and surplus of $1,000,000, its
undivided profits stood at 8100,800 on Dec. 31. The ag­
gregate resources are now $23,617,492 58. Henry R. W il­
son is President.
— At the Chatham National Bank of this city, where it
was lately announced that controlling interest was being
sought by a lo'fcal broker, the old management elected its
ticket without opposition. In addition to the re-election of
the former directors, the board was increased from eleven to
fifteen members and the following new members chosen:
Franklin S. Jerome, Frank J. Heaney, Samuel Weil and
Lewis Coon. The report in one of the morning papers yes­
terday that a majority interest in the bank had been sold to
a syndicate composed of O. F. Thomas, C. W . Morse, E . R.
Thomas and F. A. Heinze is denied by President George M.
Hard.
— The board of directors of the Mutual Alliance Trust Com
pany of this city adopted resolutions on the 10th inst. at­
testing to the worth of their late fellow-member, Emanuel
Lehman, who died on Wednesday in his eightieth year. Mr.
Lehman was also senior member of the cotton-brokerage firm
of Lehman Brothers, Vice-President and director of the
Alabama Mineral Land Co., Vice-President and director of
the Consolidated Gas Company of New Jersey, Vice-Presi­
dent and director of the East River Gas Company, director
of the Mercantile National Bank, &c.
— The usual semi-annual dividend of 3 % to be paid
Feb. 1st by the Twenty-Third Ward Bank of this city
will be supplemented by an extra payment of 1 % .
— The directors of the Nassau Bank of this city on Wednes­
day elected former Cashier William H. Rogers to the post of
Second Vice-President. Mr. Rogers has been in the service
of the bank for half a century and since 1869 had held the
cashiership. He is succeeded in that office by Edward Earl,
formerly Assistant Cashier. F. II. Richardson is President
of the bank and James C. Bell First Vice-President.
— William Allen Butler Jr. has been elected a director of
the Franklin Trust Company of Manhattan and Brooklyn
boroughs to succeed the late Wilhelmus Mynderse.

— The bankers of New York City, members of Group V III,
— The stockholders of the Williamsburg Trust Company
New York State Bankers’ Association, will hold their annual
banquet in the grand ball-room of the Waldorf-Astoria Hotel of Brooklyn Borough have elected W . A. Feil a director to
on Wednesday evening, January 30. The guests will be seated replace Hugh J. Grant.
— Joseph M. Byrne, a Vice-President of the Federal Trust
at small round tables arranged for eight persons instead of
the long tables used at former banquets. Applications for Company of Newark, N. J., has been elected a director of
this year’s dinner far exceeded the sitting capacity of the the Union National Bank of Newark.
ball-room, which is limited by the committee of arrangements
— For December 31 1906 the City Trust Company of New­
to 500 guests. An interesting program of speakers will be ark, N. J., reports deposits of $1,099,848, this comparing
announced at a later date. The Chairman of Group V III is with $870,278 twelve months ago and $835,848 December 31
Stephen M. Baker, President of Bank of Manhattan Com­ 1904. The bank’s total assets on the latest date were
pany. H. H. Powell, Cashier of the Importers & Traders’ $1,250,258, against 81,010,847 December 30 1905, $964,189
National Bank, is Secretary and Treasurer of the Group.
on the same date in 1904 and 8541,193 December 31 1903.
— The Italian-American Trust Company of this city de­ The capital is 8100,000, surplus $5,000 and undivided
clared an initial dividend of 2 % , payable January 7.
profits 841,948. The officers are Cyrus Peck, President;
— David A. Sullivan, who recently came into control of Irving Smith and Eugene Eagles, Vice-Presidents, and
the Mechanics’ & Traders’ Bank of this city, was elected Charles G. Colyer, Secretary and Treasurer.
President of the institution at Tuesday’s meeting, succeeding
W . L. Moyer. E. R. Thomas, Leo Schlesinger, Isaac
Stiebel and Louis Holloway were re-elected Vice-Presidents
and A. M. Dederer was re-appointed Cashier. Mr. Sullivan
continues as President of the Union Bank of Brooklyn
Borough.
f7 ;— Articles of incorporation for the proposed Montauk
Bank of Brooklyn Borough were filed recently. As stated
in these columns last August, the institution is to locate at
Fifth Avenue and Union Street, and is to have a capital of
$100,000. Stephen M. Griswold, who it had been intended




— The January 1 1907 statement of the Hudson Trust
Company of Hoboken and West Hoboken shows deposits
of 812,993,618. The total assets now stand at 814,766,803,
comparing with $14,333,740 on January 1 1906, $12,412,039
on January 1 1905 and $10,449,091 three years ago— January
1 1904. The company calls attention to the fact that it has
no connection whatever with the Hudson Trust Company of
New York, one being a New Jersey Corporation and the
other a New York corporation. The New Jersey institution
has a capital of $500,000 and surplus of $1,266,389. Myles
Tierney is President and J. H. P. Reilly Secretary.

80

THE CHRONICLE.

— The first statement of the Hardware City Trust Com­
pany of New Britain, Conn., issued December 22 1906,
two months after the institution’s opening, shows deposits
of $292,829 and total resources of $442,829. The capital,
$100,000, and surplus, $50,000, are fully paid. Charles M.
Jarvis is President; George P. Hart, Vice-President, and
Frank G. Vibberts, Secretary and Treasurer.
— At the annual election of officers on
Blakesley was elected Vice-President of
National Bank of Waterbury, Conn., and
was elected Cashier. The latter was also
of the bank.

Tuesday, A. M.
the Waterbury
A. J. Blakesley
made a director

— With a final dividend of 84 cents declared in liquidation
on December 26, the stockholders of the Rhode Island
National Bank of Providence, R . I ., have received, according
to local reports, a total of $23 34 per share. The institution
was merged in 1901 with the Second National, the Fifth
National and the National Eagle, forming, the United Na­
tional Bank. In addition to the price paid for their holdings,
the stockholders of the several banks were to participate
in the profits, if any, resulting from the liquidation of their
respective institutions. For the $25 shares of the Rhode
Island National, $20 was paid, $16 66 2-3 in stock of the
new bank and $3 33 1-3 in cash. A dividend of $2 50 in
cash which has since been paid to the stockholders, and the
final disbursement of 84 cents, makes a total distribution of
$23 34 per share.
— It is announced that arrangements have been made for
the absorption of the Freeman’s National Bank of Boston
by the National Bank of the Republic of that city. The price
paid by the latter for the stock of the Freeman’s (capital,
$500,000) is understood to be $145 per share. E . P. Hatch,
President of the Freeman’s, will become a Vice-President
of the National Bank of the Republic, which is to increase
its capital from $1,500,000 to $2,000,000. The consolida­
tion will add about $3,000,000 to the bank’s deposits, making
the amount more than $16,000,000. The proposition to in­
crease the capital will be acted upon Feb. 11.
— T. Jefferson Coolidge Jr. has been elected President
of the American Loan & Trust Company of .Boston, suc­
ceeding N. W . Jordan, who has been chosen to the office of
Chairman of the board, for which provision was made this
week. It is stated that Mr. Coolidge accepts the post only
temporarily, until the election of a permanent President.
The only change in the board of the company was the elec­
tion of Rodolphe L. Agassiz as an additional director. As
was noted some months ago, a majority of the stock of the
company is owned by a syndicate identified with the Old
Colony Trust.

[V01i.LXXXIY.

the management of the trust company since its organization
in 1895.
— The change which attracted the most attention in
Philadelphia occurred in the Philadelphia National Bank,
where N. Parker Shor.tridge had declined re-election to the
presidency. Mr. Shortridge was elected Chairman of the
Board, while Levi L. Rue, formerly Vice-President, was
elected as the new head of the institution.
— The stockholders of the Corn Exchange National Bank.
Philadelphia, on Tuesday adopted a resolution providing
for a change in the par value of the stock from $50 to $100
per share. The board of directors was also increased from
eleven to fourteen members. The new directors are: Joseph
H . Parvin, Thomas E. McVitty, William H. Folwell and
Walter A. Bailey. The last named replaces his father, the
late John T. Bailey.
— William T. Elliott was this week elected President of
the Central National Bank of Philadelphia, taking the place
made vacant last October by the death of Theodore
Kitchen. Mr. Elliott also succeeds the late President as a
member of the bank’s board.
— The throwing of a bomb in the Fourth Street National
Bank of Philadelphia on Saturday last by a stranger, pre­
sumably insane, whose demands for money had been met
with rebuffs, wrecked the interior of the bank and caused the
death of Cashier William Z. McLear. The bomb-thrower
himself was also killed. A number of others, clerks and cus­
tomers, likewise suffered injuries of more or less consequence,
and President R. H . Rushton narrowly escaped the fate of
Cashier McLear. The latter was about forty-five years
of age. He had been an employee of the bank about ten
years and was advanced from the office of Assistant Cashier
to that of Cashier last May.
— New directors on the board of the Franklin Nationa
Bank of Philadelphia are Percy C. Madeira and John B.
Thayer.
— Philadelphia’s new Republic Trust Company began
business on Wednesday the 2nd inst. in its own building at
1429 Chestnut Street. The capital is $200,000 and the sur­
plus $50,000. The officers of the company are George C.
Allen, President; John E. McCully, Vice-President, and
William C. Pollock, Secretary and Treasurer.
— Robert C. Hall was elected President of the Pittsburgh
Stock Exchange at the annual election on the 22nd inst.
John B. Barbour Jr. was re-elected Vice-President and John
Ramsey was re-elected Treasurer.
— The stock of the Diamond Savings Bank of Pittsburgh,
which it was recently voted to reduce from $250,000 to $125,000, is to be retired at $200 per share. This is the amount at
which it was issued when the institution was organized
several years ago. •

— A sketch of the history of the First National Bank of
Boston is outlined in a booklet in which also the policy of
the bank with regard to the conduct of its business is indi­
— Jacob B. Mauser, a Vice-President of the Citizens’
cated. The remarks as to the foundation of the institution
Deposit & Trust Company of Allentown, Pa., died on the
inform the reader that control of the Massachusetts National
28th ult., in his seventieth year.
Bank, the oldest banking institution in New England (its
— The receivership of the People’s Savings Bank of Wash­
original charter dating back to 1784), was purchased by the
ington,
D. C., will be finally wound up about January 24.
present management of the First National about six years
The bank suspended on October 24 1906, and on December 3
ago. Soon afterward the management took over the busi­
John W . Schofield as Receiver commenced to pay off all
ness of the Broadway National, and a little later that of the
creditors in full. Interest on all claims to the date of closing
First National, assuming the name of the latter. In 1904, by
a further consolidation, the First National absorbed the Na­ was also paid.
— The lately organized West End Bank & Trust Company
tional Bank of Redemption, which had itself, a few years
before, taken over the business of the Shoe & Leather of Cincinnati commenced business on Saturday, Dec. 30.
National Bank. When the last consolidation was com­ The new institution has its quarters at 1241-43 West Eighth
pleted in 1904, the deposits of the bank, it is noted, were Street. It has a capital of $50,000, and is under the man­
$35,000,000. To-day they are more than $44,000,000. agement of H. H. Suydam, President; E. V. Overman and
This growth, the bank declares, has been "due to a definite Harry Mauss, Vice-Presidents; II. F. Frohman, Secretary
policy, to certain distinctive methods, carefully considered and Treasurer; George A . Schulze, Cashier, and William H.
and steadfastly adhered to .” It especially calls attention Imbus, Assistant Cashier.
to its reserve. While a reserve fund of 2 5% of net deposits
— The stockholders of the Norwood Savings Bank & Trust
is the legal requirement, the bank, as a further precaution, Company of Norwood, Ohio (capital $50,000) recently rati­
carries a large portion of its loans on demand, and therefore fied a proposition to merge their institution with the Norwood
convertible into cash at short notice. Beginning January 1 National Bank, a new institution.. The officers of the lat­
it announces that it will allow interest at 2 % on monthly ter were elected at a meeting of its stockholders on Decem­
balances of $500 or over, except active accounts and accounts ber 6. Edward Mills was chosen President, J. C. Cadwallader
requiring accommodation.
and M. G. Cooper Vice-Presidents, and H. W . Hartsough
The bank has a capital of $200,000.
It
— William R. Dresser, President of the Puritan Trust Cashier.
Company of Boston, Mass., died on the 8th inst. Mr. is located in the quarters occupied by the Norwood Savings
Dresser was fifty years of age. He had been identified with Bank & Trust,




J a n .. 12 1907.]

— The Helvetia Savings & Banking Company of Cincin­
nati adopted on the 1st inst. its new name— the Columbia
Bank & Savings Company. The change was ratified by the
stockholders on August 4.
— At the annual meetings on Tuesday of the several
Chicago banks, not many changes were made among officials
or in the boards of directors. Among the more important
was the election of William A . Tilden to the presidency of
the Drovers’ Deposit National Bank and the election of
R. T. Forbes as Vice-President— the former officers, William
H. Brintnall, President, and Edward Tilden, Vice-President,
retiring from active management. Both, however, continue
as directors of the institution. George M. Benedict is the
bank’s Cashier.
In the Fort Dearborn National Bank, Nelson N. Lampert and William A. Tilden succeed Charles L. Farrell and
Edward E. Moberly as directors.
On the directors’ board of the Prairie National Bank,
Harry R. Moore and Willis S. Herrick succeed James W .
Stevens and George Van Zandt.
C. M. McFarlane replaces P. A. Valentine on the board
of the Stock Yards Savings Bank. S. McRoberts and T. J.
Fitzgerald were added to the board.
In the Colonial Trust & Savings Bank Walter D. Young,
of Bay City, succeeds Horatio O. Stone, retired.
Benjamin Carpenter was chosen successor to the late
John C. Welling on the board of the Corn Exchange National.
Adolph Bernard was elected a director of the Oakland
National Bank, succeeding J. P. McKeon.
Louis JH. Rathje was elected to succeed his uncle,
Henry A. Rathje, retired, as a director of the Chicago City
Bank.
— The stockholders of the Commercial National Bank of
Chicago ratified on Tuesday the proposition to increase the
bank’s capital from $2,000,000 to 83,000,000. As noted
December 15 the shareholders have waived their rights to
7 5 % of the new issue. The stock will be disposed of at
S300 per share. The board of the institution has been
increased from nine to thirteen members, with the election
of the following new directors: Alexander F. Banks, Presi­
dent of the Elgin Joliet & Eastern Ry.; Edward P. Russell,
of Russell, Brewster & Co.; Robert H. McElwee, President
of the Menominee River Lumber Co., and Alfred Cowles,
President of the Rialto Building Co.
— The stockholders of the National Live Stock Bank of
Chicago,'at their annual meeting, voted against renewing the
bank’s charter, which expires in another year— February 7
1908. It is the opinion that a plan for reorganization will
be worked out in the meantime, and that an entirely new
institution will be organized upon the expiration of the
present charter. Interests now controlling the bank will
be in control of the proposed bank, if formed, and its strength
will be increased through the introduction of new interests.
The National Live Stock Bank has a capital of 51,000,000,
surplus of $750,000, undivided profits of S577,470 and
deposits of $8,843,048.
— O. W . Herrick, Vice-President of the Avenue State
Bank, Oak Park, a Chicago suburb, died on Monday after
an illness of several weeks. He was 77 years old.
— At the annual meeting of the stockholders of the Illinois
Trust & Savings Bank of Chicago on the 7th inst. it was
favorably voted to increase the capital from $4,500,000 to
$5,000,000. It is expected that the new stock will be issued
in May. The surplus has been increased to $6,000,000 through
the transfer of $1,000,000 from undivided profits. John G.
Shedd and Henry A . Blair have been elected directors of
the institution to succeed the late John C. Welling and D.
B. Shipman.
— P. A. Valentine has resigned from the directorate of the
Continental National Bank, Chicago, and Samuel McRoberts,
Treasurer of Armour & Co., has been chosen as his successor
on the board. Ira P. Bowen, the oldest Assistant Cashier
of the Continental National, after 22 years of continuous
service in this bank, has been retired on a pension because
of ill health.
Frank H. Elmore, Wilbur Hattery and John H. Wash­
burn, three young men who have been with the Continental
National for many years, have been promoted to assistant
cashierships.




81

THE CHRONICLE.

— At a meeting on December ^31 thejstockholders of the
State National Bank of Little Rock, Ark., ratified a propo­
sition to increase the capital from $100,000 to $500,000.
The enlarged capital will become effective as soon as the new
stock has been placed, which it is thought will not be later
than February 1. L. W . Cherry is President of the bank
and W . W . McLaughlin Cashier.
— J. T. Trenery, President of the Farmers’ National Bank
of Pawnee City, Neb., has been elected Vice-President of the
First National Bank of St. Joseph, Mo. It is understood
that he will continue at the head of the Pawnee City in­
stitution .
— F. M. Gardner Jr., an Assistant Cashier of the MechanicsAmerican National Bank of St. Louiis, Mo., died suddenly
on the 25th ult. at the home of Vice-President H . P. Hilliard.
He was twenty-four years of age.
— A national bank, to be known as the Fifth National, is
to be organized in Covington, K y ., with a capital of $100,000.
The institution will take the place of the Union Bank, which
was formed the present year, but has never engaged in busi­
ness. The stockholders of the latter decided on the 29th
ult. to place it in voluntary liquidation.
— The Lexington City National Bank of Lexington, K y .,
has increased its capital from $400,000 to $500,000. The
proposition was voted upon on November 27 and carried by
a practically unanimous vote. The 1,000 new shares were
sold at $200 each, and the stock paid for on December 10.
The bank’s officers are James S. Stoll, President; B. L. Cole­
man, Vice-President; J. W . Stoll, Cashier, and J. E . Mc­
Farland and J. W . McMeekin, Assistant Cashiers.
— An interesting record of the growth of the Colorado
National Bank of Denver, Colo., during the past ten years
is furnished in the comparative statement for the three
periods given herewith:
Surplus\and
D a te.
s- ■ C a pital. 5 U ndir. P r o f i t s .rr-D e p o s its .
J a n . 1 1 8 9 7 . . . .............$ 5 0 0 ,0 0 0 ,:i* iS 2 0 2 ,951 -j • $4,943,171
Ja n . 1 1 9 0 2 ____________ 5 0 0 ,0 0 0 -ji.-jt2 12.6 80 -,J- 9 ,2 4 2 ,0 7 5
J a n . 1 1 9 0 7 ____________ 5 0 0 ,0 0 0 • -8 5 0 8 ,3 7 9 •’ -1 4 ,9 5 0 ,6 0 1

A g grega te
R esou rces.
$ 5 ,7 3 4 ,6 5 2
1 0 ,4 5 0 ,2 5 2
1 6 ,4 5 4 ,1 8 0

The bank is under the management of Charles B. Kountze,
President; Dennis Sheedy, Vice-President; George B. Berger,
Cashier; William B. Berger and T. R. Field, Assistant
Cashiers.
. — W . S. McCornick, who some months ago secured an
interest in the Utah National Bank of Salt Lake City, has
succeeded Anton H . Lund as President of the institution.
Mr. McCornick is also President of McCornick & Co., bankers.
— The Banque d’Hochelaga (Montreal) will make applica­
tion to the Treasury Board for authority to increase its capi­
tal from $2,000,000 to $4,000,000, as provided in a resolution
passed by its shareholders at]the recent annual meeting.
— The Traders’ Bank of Canada announces the removal of
its head office, in Toronto, to its new building at 61-63
Yonge Street. The bank occupies the first and second floors
of the structure, A v h ic h is seventeen stories in height.
— Senator George A . Cox resigned the presidency of the
Canadian Bank of Commerce (head office Toronto) at Tues­
day’s meeting of the shareholders. Mr. Cox, who is asso­
ciated with many other institutions in Canada either as
President or director, had been at the head of the bank
for a period of seventeen years; he will continue to serve it
as a director. Byron E. Walker, General Manager since
1886, has succeeded to the presidency, Alexander Laird
becoming General Manager.

plonctuiuii <£om in cr cia I2?u0l vslxJlcw s
( F r o m o u r o w n c o r r e s p o n d e n t .)

London, Saturday, December 29 1906.
The last settlement on the Stock Exchange has ended
much more satisfactorily than appeared at all probable only
a week ago. The carrying-over rates have been exceedingly
stiff. The very lowest have been 6 % , and in some cases
they have ranged from 9 to 15% . In the face of that, how­
ever, markets have been firm, and yesterday the last day—
Pay Day, as it is usually called— there was a general rise all
over the market. The rise was most pronounced in Ameri­
can shares, copper shares and diamond shares; but it was
very general. Even South African gold shares participated

82

THE CHRONICLE.

[V o l .

l x x x iv .

D ec. 28.
D ec. 21.
D ec. 15.
Dec. 7.
in the improvement. Partly this was due to the gratifica­
6
6
6
6
Bank of England rate_______
tion on finding that the exceedingly stiff Contango rates for Open M arket rate—
Bank bills— 3 m onths____5% @ 5 %
5 15-16 @ 6
5% @ 5 %
5% © 5%
American securities did not lead to any difficulties. It was
— 4 m onths-----5%
b% @ 6
5% @ 5 %
5%
. feared that some would not be able to carry over and that
4%
5
4%
4**
— 6 m onths____
Trade bills— 3 m onths____
6 @ 6%
6
c
5% @ 6
this might lead to difficulties. However, the fears proved
6
6
5% @ 6
5% @ 5?*
— 4 m onths-----quite unfounded, and the relief felt led to a general im­
Interest allowed for deposits—
B y joint-stock banks_______
4
4
4
4
provement.
Over and above this, there is a hope that money will now B y discount-houses:
A t c a l l ...............................
4}4
4%
4%
4^
very soon become moderately easy. All thinking people
7 to 14 days------------------4%
4%
4%
4%
The Bank rates of discount and open market rates at the
are prepared to find that money will continue comparatively
dear for a considerable time. But most hope that in a very chief Continental cities have been as follows:
D cc. 29.
D ec. 22.
D ec. 15.
Dec. 8 .
few weeks the Bank of England will be able to put down its
Rates of
Bank Open
Bank Open
Bank Open
Bank Open
rate of discount to 5 % . Everybody, at the same time,
Interest at—
Rate. Market.
Rate. M arket. Rate. Market.
Rate. M arket.
Paris ............................ 3 3
3 3
3
3
3 3
recognizes that whether it is able to do so or not will depend Berlin.......
.....................
7
5%
6
5% 6
5%
6
5%
upon the action of New York. Last evening £600,000 in H am bu rg-.................... 7
5%
6
5% 6
5%
6
5%
5%
6
5*4 6
5%
6
5 7-10
gold was sent into the Bank of England from Paris, and it is F r a n k fo r t..................... 7
A m s t e r d a m ............. , 5
5
5
4% 5
4%
54%
expected that another £400,000 will come in next week, B r u s s e ls ...................... 4
3%
4
3% 4
3%
4%
3%
4%
4% 4 7-16 4)4
4%
4)4
4%
making a million sterling. The quarter of a million sterling Vienna ......................... 4%
St. P e te rs b u rg ---------- 7% nom.
7]4 nom .
7% nom
7)4 noin.
which had been “ earmarked” for Egypt is about to be set Madrid ........................ 4)4 4)4
4)4
4% 414
4)4
4%
4%
6
6
6
6
6
60
free, and to-day there will arrive from South Africa about C op en h ag en ------ _------ 6
Messrs. Pixley & Abell write as follows under date of
£900,000 in gold. If the Bank of England is able to secure
that amount the total addition to the Bank’s reserve will December 27:
LD .— The Bank of England is still able to buy all the gold in the open market,
exceed two millions-sterling. And as money will now begin andG Ohas
secured about £400,000 this week, as New Y ork abstains from com petition.
to flow back from the interior, the Bank will be very material­ The Bank has received, since our last ,£1,039,000. of which £352,000 is in bars and
in U. S. gold and sovereigns from Paris. £505,000 has been withdrawn,
ly strengthened— so materially, indeed, that it ought to be £688,000
o f which £250,000 is for E gypt. N ext week £866.000 is due from South Africa.
able to meet the demands of both South America and of Arrivals— South A frica, £433,000; W est A frica, £83,000; Australia. £37,000; W est
In dies,£9,000; t o ta l,£562.000. Shipments— Gibraltar, £ 10,000; B om b a y, £20,100
India. It is believed that the Egyptian demand is now Pen
ang,£500; to ta l,£30,600.
ended. Therefore if New York does not compete with the
S IL V E R .— The market remains firm and has risen 3-16d. during the week, chiefly
special buying for India. The Indian Bazaars have also been buyers, the price
Bank of England, and especially does not withdraw gold on
there being Its. 82 per 100 Tolahs. Forw ard has varied between the same price as
from the Bank of England, the 6 % rate will in all reasonable cash and l-16d. premium. Arrivals— New Y ork, £ 105,000; Straits (in co in ), £ 165,000; China. £22,000; Australia, £2,000; total, £294,000. Shipments— Bom bay,
probability suffice, and before the end of January there is a £177,100;
H obson’s B ay, £51,200; total, £228,300.
prospect that the Bank of England may be able to put down
M EX ICAN D O L L A R S.— These coin have been dealt in at about Id. under the
its rate of discount to 5 % . If, on the other hand, a demand price of silver. £24,000 has come from New Y ork and £35,500 has been shipped to
Bom bay.
for New York arises, the Bank of England will be compelled
The quotations for bullion are reported as follows:
to put up its rate at once to 7 % .
GOLD .
D ec. 27. D cc. 2 0 .1
S IL V E R .
D cc. 27.
- D cc. 20
London
Standard.
s. d.
s. d.
London Standard.
d.
d.
►'•In Paris, as in London, there is a very hofpeul feeling.
Bar gold, fine, o z _____ 77 9
77 9 IBar silver, fine, o z ____ 32%
32 3-16
Carrying-over rates at the liquidation at the beginning of U . S. gold, o z . . ......... .. 76 4
76 4 I " 2 m o. delivery, o z .3 2 7-16
32}*'
76 4 j Cake silver, o z ------------ 34 15-16 34%
the month are expected to be exceptionally high, for there German gold coin, o z . . 76 4
French gold coin, o z ___ 76 4
76 4 I Mexican dollars_______ nom.
nom.
is a considerable account now open for the rise. That, how­ Japanese
yen, o z _____ 76 4
76 4 j
ever, is a temporary affair, due to the usual demands for
The following shows the imports of cereal produce into
holiday-making and for the end of the month and the year.
the United Kingdom during the season to date compared
In January money will be abundant and cheap, and every­
with previous seasons:
body is very confident that both at home and abroad peace
IM PO RTS.
Seventeen weeks.
1906-07.
1905-06.
1904-05.
1903-04.
will be maintained, and therefore everybody is inclined to
Im ports of w heat....... ............ cw t.28,211,700 29,346,100 35,538,500 31,230,503
invest.
B a r l e y ....................................... ........ 10,386,600 10,731,500 10,148,600 14,192,557
In Berlin, likewise, there is a very hopeful feeling. Money O ats........................................... .......... 4,061,000 4,553,200 4,436,200 5,369,265
.............. ........
793,320
836,635
774,999
928,119
is exceedingly scarce and dear. During this week the appli­ PB eeaas..............................
n s _____________________ _____
413,270
407,180
645,940
914,028
cations to the Imperial Bank were on an enormous scale, Indian corn -------------------- ------------ .16.192.S00 14,478,000 14,493,200 19,002,519
and it is expected that the next return will show the greatest F l o u r ------ ----------------------------------- 4,977,000 5,213,700 4,109,300 8.126.680
Supplies available for consumption (exclusive of stock on
excess of note circulation over the legal maximum that has
ever been chronicled. Still the hope is general that the September 1):
1906-07.
1905-06.
1904-05.
1903-04.
stringency will very soon come to an end; that in the course of W heat im ported...................... cw t.28,211,700 29,346,100 35,538,500 31,230,503
January the Bank will be able to put down its rate to at Im ports of flour__________________ 4,977,000 5,213,700 4,109,300 8.126.680
Sales of hom e-grown_____________ 10.525,674 14,272,085
6,348,670
7,352,523
least 6 % , and that then business will become much more
43,714,374 48,831,885 45,996,470 46,709,706
active.
Average price wheat, w eek.............
26s. 3d.
28s. 4d.
30s. 3d.
26s. Sd.
Naturally the Christmas holidays and the near approach Average price, season____________ 26s. 3d.
27s. Sd.
30s. 2d.
27s. Od.
The following shows the quantities of wheat, flour and
of the end of the month and of the year have made money
both scarce and dear. Yet there is an inclination to lower maize afloat to the United Kingdom:
This week. Last week.
1905-06.
1904-05.
rates somewhat. The best bankers are supporting the Bank
W heat...................... ................._Qrs_ 1,693,000
1,808,000
1,750,000
2,505,000
of England in making the 6 % rate effective, but a few bankers Flour,
equal t o . ...................... qrs.
197,000
192,000
. 230,000
165.000
and discount houses are competing for bills in the belief that Maize ...........................................q re_ 785,000
865.000
605,000
670.000
money will soon become both plentiful and cheap. The
English Financial Markets— Per Cable.
general feeling in the city, however, is against the lowering
The daily closing quotations for securities, & c., at London
of rates, as experience has shown over and over again that
any decline in rates not only checks the import of gold from as reported by cable have been as follows the past week:
London,
abroad but encourages withdrawals from the Bank of Eng­
Week ending Jan. 11.
Sat.
M on.
Tues.
Wed. Thurs
F ri
3
1
31T.
land. Therefore it is hoped that in spite of the few unwise S ilv e r,p e r o z ----------- -------- d . 32 5-16 32 5-16 32 1-16 32%
Consols,
new,
2)4
per
c
e
n
ts
..
87
87
86
15-16
86
13-16
86%
86
11-16
lenders, rates will be fairly well maintained. Early next
F o ra cco u n t______________ 87 5-16 87 5-16 87 3-16 87 1-16 87
86 15-16
month there will be large payments out of the Bank of Eng­ French Rentes (in P a r .) .- f r . 95.57% 95.72% 95.62% 95.57% 95.72% 95.47%
Russian Imperial 4 s ...............78%
78%
78%
78%
77 %
77hi
land on Government account. But, on the other hand, the Amalgamated
Copper C o____124
124%
-------------- 122%
123%
122%
market is so largely indebted to the Bank that probably the 6 Anaconda Mining C o______ 15%
15%
15%
15 "
15%
15
110%
109%
110%
108%
additions to the supplies in the open market will not be very Atchison Topeka & Santa Fe 109% 110
Preferred ......... ..................103
103
104
104
103%
103%
great; at all events will not suffice to lower rates materially Baltim ore & O hio___________ 125% 125% 125
124%
124%
124
Preferred ------------------------ 96
96%
96%
96U
97
97
for more than a very short time. As the month advances,
Canadian Pacific....... ..............2 0 1 %
200%
200
199%
199%
197%
the collections of the revenue will begin to transfer money Chesapeake & O hio_________57%
57%
57%
57
56%
56%
18%
18
18
18
18
from the open market to the Bank, and in February the Bank Chicago Great W estern-------- 18%
Chicago Milw. & St. Paul— 155%
157
156%
155%
156%
157
will have complete control of the market.
Denver & R io Grande, c o m .. 44
44
43U
44
44
43%
P r e fe r r e d ............- ............... 85
85%
86
85
85
85%
The India Council offered for tender on Wednesday 120 lacs
Erie, co m m o n .-------------------- 45
45%
45
44%
44%
43%
of drafts, and the applications amounted to 700 lacs, at prices
1st preferred______ _______77%
77%
78
77%
77%
77%
2d p re fe rr e d ......................... 68
68%
68%
68%
68%
68
ranging from Is. 4 3-32d. to Is. 4 5-32d. per rupee. Appli­
Illinois C en tral......... ...............176
175
175
174
174
173
cants for bills at Is. 4 3-32d. and for telegraphic transfers at Louisville & Nashville..........-149%
149
148%
147%
148
147%
28
27%
27%
27%
27
Is. 4 o-32d. per rupee were allotted about 17% of the amounts Mexican Central— ................ 28%
Missouri Kans. & T e x ., com . 43
43
42%
42
42
41
applied for.
74%
74%
74%
74%
74%
Preferred - ..........- .......... .. 74%
61
60
60
61
60%
The following return shows the position of the Bank of National R R . o f M exico......... 61
N. Y . Central & H ud. R ive r. 137%
137
137%
136%
137
137
England, the Bank rate of discount, the price of consols, &c., N. Y . Ontario & W e s te rn ___49
49U
49%
49
48%
48%
Norfolk & W estern, com ____ 95%
95
94%
94%
94
93%
compared with the last four years:
1906.
Dec. 26.
£
28,795,255
6,928,576
43,408,141
15,458,516
34,122,959
17,699,725
29,064,478

Circulation------------Public deposits-----Other deposits-------Governm't.securities
Other securities-----Reserve,notes&coin
Coin & bull..both dep
Prop, reserve to lia­
bilities......... _p. c.
37%
Bank rate_____ p. c.
6
Consols, 2 % p. c —
85%
S i l v e r . ........... ........... 32 5-16d.
Clear.-house returns 158,983,000

1905.
D ec. 27.
£
29,351,060
7.816,972
44,221,033
12,798,9S9
39,535,486
17,629,191
28,530,251

1904.
Dec. 28.
£
28,204,210
9,103,546
44,321,197
15,609,872
35,463,898
20,173,062
29,927,272

1903.
D ec. 30.
£
2S,7S7,7G0
7,949,728
48,425,197
19,234,927
36,424,787
18,574,053
28,911,813

33 13-16
37%
32%
27 15-16
4
3
4
4
89 3-16
88%
98
92%
30 3-16d.
2S?<d.
25 15-lGd.
22% d.
161,271,000 157,482,000 174,156,000 167,821,000

The rate3 for money have been as follows:




1902.
Jan. 1.
£
29,693,635
9,947,200
55,259,496
17,108.658
47,736.303
1S.258.1S2
29,776.817

Preferred ------------------------ 93
Northern Pacific...................... 193%
a Pennsylvania— .................. 715^
a R e a d i n g C o . _____ ________70J4
a First preferred__________4 4
a Second preferred_______ 49%
R ock Island............................... 31
Southern Pacific....... ............ .. 97^
Southern R y ., com ....... .......... 343^
Preferred ........................... 971^
Union Pacific, com __________186%
Preferred — ............
96%
U .S . Steel Corp.. com ............51
Preferred .............................108%
W abash _____________ ______19
Preferred ............................. 39
Debenture B s .......................77%

t_- a Price per share.

6 £sterlin g.

93
194%
72^
71^
6 %
49%
31
97}^
341^
97^
188%
96%
51%
110%
19
39%
77%

93
93
_________ 191%
72%
72%
71
70%
47
47
49
48%
_________ 3 0%
96%
96%
34%
33%
97
97
185%
185
96%
96%
51%
51%
110%
109%
19
18%
39%
39%
77%
77

93
187%
72%
70%
47
48%
30%
96
33
94
185%
96
51%
110%
18%
39%
78%

93%
187%
70
70
47
48%
30
9b%
32%
94%
183%
96
50%
109%
18%
37 *
7S%

Stmuricvcial and fWsccllauccuis Jleurs
STO CK OF M O N E Y IN T H E C O U N T R Y .— The follow­
ing 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. The statement for Jan. 1
1906 will be found in our issue of Jan. 20 1906, page 140.
-Stock of M oney
I n United
States.
S
Gold coin and bullion. .1,5S7,018,385
Gold ccrtlflcates.a___________ ________
Standard silver dollars. 501.635,530
Silver certificates .a -----------------Subsidiary silver______ 127.841,368
Treasury notes of 18906.61G.000
United States notes____ 340,081,016
National bank notes—
596,162,409

Jan. 1 1907—
Held in
Treasury .d
S
255,279,952
58.719.G70
1,695
S,438,975
3,720,430
15,171
4,772,663
11,105,884

— M oney in Circulation—
Jan. 1
Jan. 1
•1906.
1907.
S
S
654,168,025
692,623,564
4S0,939,019
580,395,199
83,736,227
85.377,835
463,900,485
467,817.025
110,029,365
124.120.93S
8,274,884
6.600.S29
343,262,091
341,908,353
527,173,475
585.056,585

Total ........................... 3,225,954.768 342.054,440 2.8S3.900.328 2,671,543,571
Population of tne United States Jan. 1 1907, estimated at 85,367,000; circulation
per capita, $33 78.
a For redemption of outstanding certificates an exact equivalent in amount of the
appropriate kinds of money is held in the Treasury, and is not included in the
account of money held as assets of the Government.
d This statement of money held in the Treasury as assets of the Government does
not include deposits of public money at National Bank Depositaries, to the credit of
the Treasurer of the United States, amounting to $146,827,867 99.

G O V E R N M E N T R E V E N U E A N D E X P E N D IT U R E S —
Through the courtesy of the Secretary of the Treasury, we
are enabled to place before our readers to-day the details of
Government receipts and disbursements for the month of
December. From previous returns we obtain the figures for
previous months, and in that manner complete the statement
for the calendar years 1906 and 1905. For statement of
December 1905, see issue of Jan. 27 1906, page 199.

000s omitted.

9.424.000
5,156,250
5,468,500
52 ,414,200
832,000
7 1 ,458,256
1.579.000
7 .624.000

Total on deposit D ec. 31 ’06 $166,824,206

Total
H eld .

$16,831 ,580
27,054,650
6,432,400
4 ,193,960
496,751 ,250

$29,699 ,580
36.478.650
11.588.650
9,662,460
549,165 ,450
832,000
71 ,458,256
1.579.000
7.624.000

$551 ,26 3,84 0

$718 ,08 8,04 6

The foregoing does not include the bonds held in the New
York Sub-Treasury against deposits in banks.
The following shows the amount of national bank notes
afloat and the amount of the legal tender-deposits Dec. 1
and Jan. 1, and their increase or decrease during the month
of December:
N a tion a l B a n k N o tes— Total A flo a t—
Am ount afloat Dec. 1 1906_________ _______________________________ $593,380,549
Am ount Issued during December____________________ $6,272,059
Am ount retired during December------------------------------- 3,490,139
2,781,920
A m ount of bank notes afloat Jan. 1 1907----------------------------------- $ 596,162,469
L egal-T en d er N o tes—
Am ount on deposit to redeem national bank notes Dec. 1 1 9 0 6 . $46,399,102
Am ount deposited during D ecem b er________________ $ 2,116,763
Am ount of bank notes redeemed In Decem ber______ 1,633,480
483,283

'"•I M

---------------- -

Am ount on"deposlt to redeem national bank notes Jan. 1 1 9 0 7 . $46,882 ,385

The portion of legal tenders deposited (1) by banks be­
coming insolvent, (2) by banks going into voluntary liqui­
dation and (3) by banks reducing or retiring their circulation,
was as follows on the first of each of the last five months:
S ep t. 1.

N o v . 1.

O ct. 1.

D e c . 1.

J a n . 1.

D ep o sits b y—
$
$
$
$
$
36,113
36,113 1,323,811 1 ,283,376
Insolvent ban ks. _
36,113
Liquidating banks 16,787,238 1 6,020,156 16,276,011 16,059,871 15,671,370
Reducing under
A ct of 1 8 7 4 _ a .. 2 8,589,792 3 0,077,915 2 9,926,692 29,015,420 29,927,633

a A ct of June 20 1874 and July 12 1882.

Feb.

Auction Sales.— Among other securities the following, not
regularly dealt in at the Board, were recently sold at auction:
By Messrs. Adrian H . Muller & Son:

Mch.

I®

Stocks.

20 Lincoln Trust C o____________ 395

April
May.

50 Carnegie Trust C o___________ 200
g5 Citizens’ Central N at. B an k.145
23 C ent.New Eng. R y .C o .,co m . 19
B on ds.
$10,000 N . Y . City School 3 ^ s ,
1954, M . & N ____ 93 1-16 and >nt.

June. July.

DIVIDENDS.

1,633
2,155

Tot. 12
months.

1,972
2,378

Dec.

1.136
1,460

Nov.

1,611
2,021

Oct.

2,050
1,394

Sept.

1.704
1,293

Aug.

2,025
1.618

36,068
24,797,

24,127
22,039,

C ircu la tion A flo a t Under

LegalT end ers.

B on d s.

L egalT end ers.

Total.

$
551,263 ,840
549,750 ,830
539,653 ,180
530,772 ,270
526,944,030
520,388 ,610
520,605 ,210
519,265 ,530
516.387.440
514,362 ,990
511.846 .440
509,901 ,690

$
46,882,385
46,399,102
46 ,238,816
46,134,184
45,413,143
44 ,907,646
43,264,611
43,093,514
42,222,763
42,445,416
41,630,329
36,864,331

$
549,280,084
546,981,447
536,933,169
527,768,924
524,439,160
516,573,399
517.847.749
516,036 ,146
514,423,519
512,221,551
509,173,566
506.365.749

$
46,882,385
46,399,102
46,238,816
4 6 ,134,184
45,413,143
44,907,646
43,264,611
43,093,514
42,222,763
42,445,416
4J ,630,329
36,864,331

$
596,162,469
593,380 ,549
583,171 ,985
573,903 ,108
569,852 ,303
561,481 ,045
561,112 ,360
559,129 ,660
556,646,282
554,660 ,967
550,803 ,895
543,230 ,080

For full explanation of the above table see the issue of
Dec. 14 1901, page 1232, the first item in Financial Situation.
T h e following shows the amount of each class of bonds held
ugainst national bank circulation and to secure public
moneys in national bank depositories on December 31.

B on ds.
$1,776.40 Paterson, N . J ., City
Engineer’s C ert., dated Sept.
1 1904 ________________________ $100
$10,000 Bleecker St. & Fulton
Ferry R R . 1st H . 4s, 1950,
J. & J ---------------------------------------87

W e have changed the method of making up our weekly
list of dividends. Heretofore our record has included only
the dividends announced each week, but for the convenience
of our readers we now enlarge the scope of the compilation
so as to show also dividends previously declared, but the
date of payment of which has not yet arrived. In the new
form the statement indicates all the dividends announced
for the future by all large or important corporations.
Dividends announced this week are printed in italics.
Name of Company.

B on d s.




$ 12 ,868,000

Bank
C ircu la tion .

T o t a l ___________ 45,413,143 46,134,184 4 6 ,238,816 46,399,102 46,882,385

1906.

3 1 .............
3 0 ----------3 1 . ------2 9 ----------3 1 .............
3 1 .............
3 0 ----------3 1 ----------3 0 ----------3 1 .............
2 8 ----------3 1 -----------

P u b lic D ep o sits
in B a n k s.

2 per cents .Panama Canal___
4 per cents, Funded 1907 ____
4 per cents, 1895, clue 19 2 5 ___
3 per cents, 1908 -19 18________
2 per cents, consols of 1930___
3.65s Dist. of Columbia, 1924
State, City and Railroad b d s.
H awaiian Islands bonds____
Philippine Loan_______________

Jan.

2,203
1,504

Receipts 1006—
S
$
$
S
$
$
$
$
$
S
S
$
$
Customs ......
26,890 23,832 27.148 23,481 23,178 20,259 26,177 29,012 27,280 27,770 25,921 28,641 315,595
Internal revenue . . . 19.775 18,229 20,477 19,083 20.324 22,607 22,102 21,853 21,491 24,730 24,860 23,584 259,115
Miscellaneousi...................
4,127 6,134 3,007 2,528 4.478 6,501 4,020
5,142 2,726 4.736 4,821 3,588
51,808

2,536
1,317

Total receipts___________ 50,792 48,195 50,632 45,092 47.9S0 55,367 52.299 56,007 51,497 57.242 55.602 55,813 020,518
Receipts 1905—
22,304 21.582 24,003 20,041 19,659 22,565 21.590 20,181 27,244 25,622 24,269 24,963 280,023
Customs......
Internal revenue... 17,299 16.715 19,501 17.300 19,961 20,802 21.089 19,556 20.79S 22,174 21,730 23,221 210,140
Miscellaneous................... 3.S07 6,311 2,764 2.437 4,139
4.584 0,594
1,753 2.209 2,697 3.002 2,166
42,163

2.484
1,789

Total receipts___________
43,410 44,008 40,268 39,778 43,759 47.951 49,273 47,490 50,251 50.493 49,001 50,350 562,632
Disbursements 1906—
Civil and mlscel_________
11,944 8,240 9,053 11.773 7,539 6.047 15,561 7.688 9,131 13,632 10,281 8.734 120.223
7,672 7,450
7,941 S.025 6,875 4.699 14,257 8,833 8,336 11,056 7,595 6.098
99.437
W a r .............
Navy ___________________- 9,409 8,286 10,605 6.981 8.818 7,451 10,517 7,284 7,041 8,131 7,781 7,714 100,108
Indians. ...... ........................
971 1,073
1,009
1,025
1,124
773 1,987 2,249
659 1.262
1,610
1,403
15,145
Pensions___
10,865 12,438 11,641 10,170 13,082 10,374 11,961 13,112 10,894 10,124 13,060 10,799 139,120
Public Works.....................
4,210 5,007 5,292 5,198 0,814 4,981 7,460 7,137 4,034 0,368 5,642 4,844 67,047;
Interest........ ........................- 1,849
1,100
169 3,853
1,590
417 4,041 1,545
175 4,045
1.74S 0,345 26,949;

2,304
2,099

disbursed.. 49,628 41,461 45,295 48.990 40,719 35,289 63,129 52,150 41,310 55,710 46,871 44,932 571,484
Red. F d .. .
3,257 7,148 3,745 2,593 3,008 2,215 3,003 2,310 2,989 1.152 2,304 2,344
1906.....................
1,441
1,814
1,990 2,412
1,479 2.495
950 2,610 2,301 2.545 3,004 1,750
1905___________

2,469
3,011

Total disbursed_________
46,920 43.720 45,770 47,025 45,84835,342 65,814 47,848 40,270 54,618 48,323 46,537 568,035;
Disbursements 1905—
13,020
8,397 9.473 13,539 9,5097.547 15,659 10,238 8,401 13,750 9,428 8,254 127,281
Civil and mlscel_________
W a r ............. ........................
8,071 0,099 9,232 7,481 6,7655,822 12,686 8,933 0,013 10,040 6,492 6,233 95,067
9,181 8 OSS 9,778 9,882 9,4388,481 10,755 10,042 9,379 9,087 10,004 9,419 114,194
Navy _____
Indians____
1,514
1,334
1,6S6
1,044
1,120 845 1,048
1,574
097 1,053
1.131
067 14.313
Pensions...... ........................
10,289 13.013 12,315 10,311 13,8489,056 12,101 14,102 11.313 10,323 13,087 10,938 141,896
3,377 2,323
2,422 2,768 3,8432,565 0,251 5,630
4,681 6,561 4,322 6,089 50,832
Public Works___________
Interest____ _____________
4,170
1,607
389 3,905 2,130373 4,029
1,631
226 4,296 1,747 3,332 27,901

Total
Nat. Bank
Receipts
Receipts

Disbursed 1906...................
Disbursed 1905__________

B on ds and L eg al-T en ders on D ep o sit 'or
B a n k C ircu lation .

V . S . B on d s H eld D ec . 31 1906 to S ecure—
B on d s on D ep o sit
D e c . 31 1906.

L egal Tend ers.

B A N K N O T E S— C H A N G E S IN T O T A L S O F, A N D IN
D E P O S IT E D B O N D S, & c.— W e give below tables which
show all the monthly changes in bank notes and in bonds
and legal tenders on deposit.
The statement for December

D ec.
N ov.
O ct.
Sept.
Aug.
July
June
M ay
April
M ch.
Feb.
Jan.

83

THE CHRONICLE.

J a n . 12 1907.1

R a ilroa d s (S te a m ).

Atch. Topeka & Santa Fe, pref. (No. 17)
Bald Eagle Valley______________________
Baltimore & Ohio, common______________
P referred ......... ..................... .....................
Canada Southern___________ __________
Central Railroad of New Jersey (guar.)___
Clev. Cin. Chic. & St. L ., pref. (quar.)..
Cripple Creek Central, common (quar.).
Preferred (quar.)____________________
Del. Lackawanna & Western (q u a r .)...
Delaware & Hudson (quar.)------------------Denver & Rio Grande, preferred_______
East Pennsylvania, guaranteed------------Georgia Railroad & Banking (quar.)____
Great Northern (quar.)________________ _
Hocking Valley, common______________
Hunt. & Broad Top M l. RR . & Coal, pref.
Lake Erie & Western, preferred________
Lake Shore & Michigan Southern......... ..
Lehigh Valley, common________________
Common (extra).................. .....................
________________________
Preferred .
Little Schuylkill Nav.. R R. & Coal____
Louisville & Nashville___________ _______
Mahoning Coal R R ., common__________
Michigan Central..______ ______________
Mine Hill <fc Schuylkill Haven__________
Minneapolis & St. Louis, preferred-------Missouri Pacific (No. 5 6 ) . .. ___________
Nashville Chattanooga & St. L ouis--------New York Cent. & Hudson River (quar.)
Northern Central_____ ________________
Northern Pacific R y . (quar.)____________
Pitts. Cin. Chic. & St. Louis, common. .
Pittsburgh & Lake Erie_________________
Reading, common_____________________
Rutland, preferred_____________________
Seaboard Co., first preferred........... ..........
Southern Pacific Co., preferred (No. 5 ) . .
Southwestern of Georgia-----------------------Texas Central, preferred-----------------------White Pass & Yukon---- ---------- --------------

Per
Cent.

When
Payable.

Books Closed.
Days Inclusive.

2H

Feb.
1 Dec. 28
to
Feb. 1
F e b.
1 Holders of rec. Jan. 8
Mch.
1 Feb. 14
to
Feb 28
Mch.
2
1 Feb. 14
to
Feb. 28
Feb.
1 Holders of rec. Dec. 31
Feb.
2
1 Jan. 19
to
Jan.
i y* Jan. 21 Holders o f rec. Dec.
Jan. 21 Jan. 12
to
Jan.
Jan. 21 Jan. 12
i
to
Jan. 21
Jan. 21 Jan. 4
to
Jan. 20
2Jie Mch. 15 Holders of rec. Feb. 23
3
Jan.
Dec. 29
to
Jan.
Jan.
3
Holders o f rec. Jan.
Jan.
Jan. 1
to
Jan. 14
Feb.
1 Holders of rec. J a n .19a
m
Jan. 14 Dec. 25
to
Jan. 14
Jan.
to
2
14 Dec. 25
Jan. 14
Jan. 25 Holders of rec. Jan. 12
Jan.
15 Holders o f rec. Dec. 29
2
Jan. 27 Holders o f rec. Dec. 31
6
Jan.
12 Holders o f rec. Dec. ?9
2
Jan.
12 Holders of rec. Dec. ?9
1
Jan.
12 Holders of rec. Dec. 29
5
Jan.
15 Dec. 21
3
to
Jan. 14
Feb. 11 Jan. 22
3
to
Feb.
Feb.
6
1 Holders of rec. Jan. 19
Jan. 29 Holders of rec. Dec. 31
3
2 X Jan. 15 Holders of rec. Dec. 18
2H Jan.
Jan. 15
to
15 Jan. 1
2 X Jan. 21 Dec. 29
Jan. 21
to
to
3
Feb.
Feb.
1 Jan. 22
1
to
Jan. 15
1 « Jan. 15 Dec. 16
46 Jan. 15 Holders of rec. Dec. 31
to
1 Jan. 19
Feb.
I K Feb.
1
Holders of rec. Feb. 5
2
Feb.
Holders of rec. Jan. 5
Jan.
Feb.
1 Holders of rec. Jan.
6
1 Holders of rec. Jan.
Feb.
Jan.
15 Holders of rec. Dec. 29
15 Jan. 4
to
Jan.
Jan.
14 Holders of rec. Dec. 31
5 Dec. 18
Jan. 6
to
2'A Jan.
Jan.
Jan. 6
Jan.
to
‘I Xid Feb.
5
Jan.
Jan. 14
15 Jan. 1
to
5
3

1M

31
15
21

IX
2H

2H
2H

15
15
15

15

ft

3X

12

2H

2

15
15

IX
2X Jan.
3X
15
2X

3

10
15
15
15

84

[Yol. lxxxiv.

THE CHRONICLE.
Name of Company.

P cr
Cent.

Street Railways.
Boston Suburban Elec. Cos. ,pref. (quar.)
75c.
Brooklyn City R R. (guar.)____ ________
2K
Cin. Newp. & Cov. Lt. & Tr., pref. (quar.)
1H
Columbus (O .) Railway & L ight— —
1
Columbus R y ., pref. (quar.)--------------- ._
IX
D etroit United Railway (quar.)________
1M
E l Paso Electric C o., preferred------------3
Grand Rapids Railw ay, preferred (quar.).
IX
Greene&CoatesSt.Pass.Ry. (Phil.) (quar.) S I.50
H avana Electric R y ., pref. ( q u a r .) -----1
H ouston (Texas) Electric C o., preferred. $3
Jacksonville (Fla.) Elec. C o., com. & p f. S3
Lincoln (Neb.) Traction C o., preferred-2K
Manchester (N .H .) T rac.,L t.& P .(qu ar.)
ik
E xtra _______________________________
1
M ilw .E lec.R y.& L t.,pref .(quar.) (No. 29)
1K
New Orleans R y . & Light, pref. (qu ar.).
IX
Philadelphia Co., com mon (qu ar.). - . ik
Pittsburgh, M cKeesport & G reensburg..
2
Spokane & Inland Empire R R .. pref-----IX
United Traction (Pittsburgh), preferred.
2k
Banks.
Twenty-third W ard*
__________________
Trust Companies.
Bow lingGreen . . .................... ...................
H om e(B rook yn)
_____ _______________
Lawyers’ Title Insur. & Trust (qu ar.)___

When
Payable.
Jan.
Jan.
Jan.
Jan.
Feb.
Feb.
Jan.
Feb.
Jan.
Jan.
Feb.
Feb.
Jan.
Jan.
Jan.
Jan.
Jan.
Feb.
Jan.
Jan.
Jan.

3
1

Feb.
Feb.

10
2
3

Jan.
Jan.
Feb.

Miscellaneous.
Jan.
American Cement (N o. 1 5 ).- - - _______
3
Jan.
E xtra . , __________ - _____ _____
1
Jan.
American Chicle, com m on (m onthly) —
1
Jan.
Common, e x t r a ______________ _____
1
Am erican District Teleg. o j N . J . (quar.).
Jan.
1
Feb.
American Glue, preferred. ----------4
American Graphopjhone, pref. (quar.) —
I X Feb.
American Locom otive, com m on (quar.).
I X Feb.
Preferred (quar.)....... ............ .................
I X Jan.
Amer. Pneum. Serv.,pref.(quar.)(N o. 14)
Jan.
ik
American Shipbuilding, pref. (quar.)-----I X Jan.
A m . Smelt. & R ef.,com . (quar.) (N o. 13)
I X Jan.
2
American Telephone & Telegraph (quar.)
Jan.
American Type Founders, com . (qu ar.).
Jan.
1
Preferred (quar.)____________________
I X Jan.
April
American W riting Paper, preferred_____
1
American W oolen, pref. (quar.) (N o. 31)
I X Jan.
Anaconda Copper Mining (q u a r.)---------- Sl-75 Jan.
Associated Merchants, first pref. (quar.)
I X Jan.
First preferred (extra)________________
x . Jan.
Second preferred (quar.)-------- ---------I K Jan.
Second preferred (extra)_______ . . .
X Jan.
2
Bell Telephone o f Canada (q u a r.)______
Jan.
Bell Telephone of Philadelphia (quar.)__
Jan.
m
Cent. Coal & Coke, com . (quar.) (N o. 25)
Jan.
ik
Preferred (quar.) (N o. 5 4 )___________
I X Jan.
Chicago Pneumatic Tool (quar.)_______
Jan.
i
2
Claflin Co. ( I I . B . ) , com. (quar.)-----------Jan.
Consolidated Ice, Pittsburgh, pref. (quar.)
J an.
ik
Distilling Co. of Am erica, pref. (quar.)I X Jan.
Distillers’ Secur. Corp. (quar.) (N o. 17).
I X Jan.
Dom inion Coal, L td., preferred- ----------3K Feb.
(E.I.)duPont de N em oursPow.,com . (quar)
I X Mch.
Preferred (quar.)_____________________
I X Jan.
du Pont Internat. Powder, pref., extra.
I K Feb.
Edison Electric III. (Boston) (quar.). —
2 k Feb.
Electric Bond & Share, preferred (quar.) . .
I X Feb.
Electric Company of Am erica---- -----------3 K Jan.
General Electric (quar.)_______________
Tan.
2
Great Lakes Towing, c o m m o n ________
Jan.
2
Harbison-W alker R efact., pref. (quar.) —
Jan.
ik
H udson River Telephone (quar.)____ __
Jan.
ik
Inter. B utton H ole Sew. Mach. (qu ar.).
Jan.
International Nickel, pref. (qu ar.)-------Feb.
ik
Inter. Smokeless P. & Ch., com . (extra ).
X Feb.
Internat. Steam Pum p, pf. (quar.) (Vo31)
I K Feb.
La Belle Iron W orks____________ _____
2
Feb.
Stock dividend.
. - - - ------------- . .
Jan.
8
Massachusetts Lighting (qu ar.)................
I X Jan.
M exican Telegraph (qu ar.)_____ ______
2 K Jan.
Michigan State Telephone, pref. (q u a r.)..
I K Feb.
Minneapolis General Electric, c o m m o n ..
$2
Feb.
P r e fe r r e d -----------------------------------------Feb.
S3
M onongahelaRiv. Cons. Coal <fc Coke, p f. S2.25 Jan.
Montana Ore Purchasing ( q u a r . ) . -------- $10
Jan.
Jan.
E xtra _______________________________
5
Jan.
National Biscuit, com m on (q u a r.)--------1
Jan.
National Carbon, com m on (qu ar.)-------1
Jan.
National Fireprooflng, preferred (q u a r.).
1
Jan.
Preferred, extra__ __________________
1
Jan.
New Y ork Air Brake (qu ar.)..... .......... ..
2
N . Y . & N. J. Telephone (quar.) (N o. 93)
I K Jan.
E xtra ___________________ _________
Jan.
1
Osceola Consolidated M ining______ ____
Jan.
$6
Oklahoma Gas & Electric, pref. (quar.)___
I X Jan.
Otis Elevator, preferred (qu ar.)________
I K Jan.
Pacific Coast C o., com m on (quar.)_____
I K Feb.
First preferred (quar.)________________
I K Feb.
Second preferred (qu ar.)_____________
I K Feb.
Procter & Gamble, preferred (quar.)____
Jan.
2
Quaker Oats, com m on (qu ar.)__________
I K Jan.
Common, extra__________________ ____
K Jan.
Railway Equip. Corp. (mihly.) (No. 104)
I K Jan.
Reece Button-H ole Machine (qu ar.)____
2
Jan.
Rhodelsl.Perkins Horseshoe, pref. (quar.)
Jan.
m
E x t r a _____ ________ _____ ___________
K Jan.
San D iego Cons. Gas & E lec., pref. (quar.)
I X Jan.
Securities Com pany____________________
2 K Jan.
Stetson Co. (John B .), com m on................ 10
Jan.
Common (extra)____________ _______
5
Jan.
Preferred ...................................................
Jan.
4
Street’sWest .StableCarLine,com . (quar.)
K Jan.
Tamarack Mining_____ _____ ___________
Jan.
S3
Tenn. Coal Iron & R R . Co., com . (quar.)
Feb.
1
Preferred (qu ar.)________ ___________
Feb.
2
Union Bag & Paper, preferred (q u a r .)..
Jan.
1
United Copper, common (quar.)________
I K Jan.
Common, e x tr a ___ _________________
X Jan.
United Fruit (quar.) (N o. 3 0 )___________
I X Jan.
Jan.
U nited Gas & Electric Co. o f N. J.,com _
2
Preferred _____ _____ ________________
2 K Jan.
United Gas Im provem ent (qu ar.)______
Jan.
2
Jan.
United Shoe Mach. Corp., com . (qu ar.).
2
Preferred (qu ar.)____________________
I K Jan.
U. S .C a s tlr o n P . & F d y .,c o m . (q u a r .)..
Mch.
l
Preferred (quar.)______________________
I X Mch.
United States Glass (qu ar.)____________
Jan.
SI
Jan.
United States R ubber, old pref. (qu ar.).
2
Jan.
First preferred (quar.)________________
2
Second preferred ( q u a r . ) ____ _____
I K Jan.
U . S. Sm elt., R ef. & Min., pref. (qu ar.).
I X Jan.
Jan.
Va.-Car. Chem., pref. (quar.) (N o. 45).
2
Vulcan Detinning, preferred (quar.)____
I X Jan.
Jan.
W ells Fargo <fc C o___________________ - .
5
W estern U nion Teleg. (quar.) (N o. 153).
I X Jan.

Books Closed.
D ays Inclusive.

16 Holders of rec.
to
15 Jan. 11
1
to
15 Jan.
15 Holders of rec.
1 Holders of rec.
to
1 Jan. 11
14 Holders of rec.
1 Holders of rec.
7 Holders of rec.
to
15 Dec. 29
1 Holders of rec.
1 Holders of rec.
to
15 Jan. 11
15 Holders of rec.
15 Holders of rec.
31 Holders of rec.
to
15 Jan. 1
1 Holders o f rec.
14
to
20 Jan. 2
19 Holders of rec.

D ec.
Jan.
Jan.
D ec.
Jan.
Feb.
D ec.
Jan.
Dec.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.

15
15
15
31
15
5
24
15
31
15
15
15
15
1
1
19
14
7

Jan. 20
Jan. 10

to
to
to

to
24 Jan. 12
to
24 Jan. 12
to
15 D ec. 25
to
15 D ec. 25
to
22 Jan. 13
to
1 Jan. 20
15 Holders of rec.
to
25 Feb. 9
21 D ec. 27
to
1
to
15 Jan.
to
10 Jan. 6
to
15 Jan. 5
to
15 Jan. 1
15 Holders of rec.
15 Holders ot rec.
1 Holders of rec.
to
15 Dec. 30
to
17 Jan. 6
to
15 Jan. 9
to
15 Jan. 9
to
15 Jan. 9
to
15 Jan. 9
15 Holders of rec.
15 Holders of rec.
to
15 Jan. 1
to
15 Jan. 1
to
25 Jan. 16
Jan. 15.
15
21
to
15 Jan. 5
28 Jan. 8
to
1 Jan. 19
to
15 Mch. 6
25 Jan. 16
15 Holders of rec.
1 Holders Of rec.
to
1 Jan. 17
31 Holders of rec.
15 Holders o f rec.
to
15 Dec. 16
20 Holders of rec.
to
15 Jan. 6
15 Holders of rec.
to
1 Jan. 11
15 Holders of rec.
to
1 Jan. 22
1 Holders of rec.
20 Holders of rec.
15 Holders of rec.
to
16 Dec. 21
to
1 Jan. 22
1 Holders of rec.
1 Holders of rec.
25 Holders o f rec.
29 Holders of rec.
29 Holders of rec.
15 D ec. 29
to
15 Jan. 5
to
15 Holders o f rec.
15 Holders of rec.
22 Jan. 9
to
15 Holders of rec.
15 Holders of rec.
24 Dec. 29
to
15 Holders of rec.
15 Holders Of rec.
1 Jan. 16
to
1 Jan. 16
to
1 Jan. 16
to
15 Holders ot rec.
15 Holders of rec.
15 Holders o f rec.
15
15 Holders of rec.
15 Holders of rec.
15 Holders of rec.
12 Holders o f rec.
15 Holders of rec.
to
15 Jan. 10
to
15 Jan. 10
to
15 Jan. 10
to
25 Jan. 13
to
24 D ec. 28
to
1 Jan. 12
to
1 Jan. 12
to
15 Jan. 1
to
30 Jan. 17
to
30 Jan. 17
15 Holders of rec.
15 Holders of rec.
15 Holders of rec.
15 Holders of rec.
15 Holders of rec.
15 Holders of rec.
to
1 Feb. 9
to
1 Feb. 9
to
15 Jan. 6
31 Holders of rec.
31 Holders of rec.
31 Holders o f rec.
15 Holders of rec.
to
15 Jan. 1
to
19 Jan. 10
to
15 Jan. 1
to
15 D ec. 25

Jan .15
Jan. 16
Feb. 1
Jan. 24
Jan. 24
Jan. 15
Jan. 15
Jan. 21
Feb.
1
Feb.
1
Feb. 25
Jan. 20
Jan. 15
Jan. 15
Jan. 15
Jan. 14
Jan. 10
Jan. 10
M ch.ISa
Jan. 15
Jan. 15
Jan. 15
Jan. 15
Jan. 15
Jan. 15
D ec. 24
Jan. 5
Jan. 15
Jan. 15
Jan. 25
Jan. 15
Jan. 28
Feb.
1
D ec.
Jan.
Feb.
Jan.
D ec.
Jan.
Jan.
Jan.
Jan.
Feb.
D ec.
Feb.
Jan.
Jan.
Jan.
Jan.
Feb.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
D ec.
D ec.
Jan.
Jan.
Jan.
Jan.
Jan.
D ec.
Feb.
Feb.
Feb.
D ec.
Jan.
Jan.

20
16
1
15
15
1
10
15
5
1
20
1
21
1
1
16
2
17
17
19
19
19
15
16
31
31
21
5
5
10
10
31
1
1
1
31
5
5

Jan.
5
Jan. 2
Jan. 2
Jan. 10
D ec. 31
Jan. 15
Jan. 15
Jan. 15
Jan. 25
Jan. 10
Feb. 1
Feb. 1
Jan. 15
Jan. 30
Jan. 30
D ec. 31
D ec. 31
D ec. 31
D ec. 31
D ec. 20
D ec. 20
Feb. 28
Feb. 28
Jan. 15
Jan. 15a
Jan .15a
Jan.15a
D ec. 1
Jan. 15
Jan. 20
Jan. 15
Jan. 1

a Transfer books n ot closed. 6 Also declared 12J^% . payable In stock at same
time, d Five per cent declared, payable in two installments, e Nine per cent
declared for year, payable in quarterly installments.




Receipts at—

Flour.

Corn.

Wheat.

Oats.

Barley.

R ye.

bbls.l96lbs. bush. 6 lbs. bush. 56 lbs. bush. 32 lbs. bush. 48 lbs. bu. 56 lbs.
C h ica g o -----1,650,155
193,261
2,779,405
576.000
706.708
58,628
256.000
M ilwaukee. .
24,675
189.000
228.000
415,200
29,700
D ulu th-------40,723
575,974
15,551
20,944
461,130
Minneapolis"217",580
343,240
2,481,970
99,335
56,900
203.000
61,000
2,400
46,751
2,200
D etroit-------63,562
27,263
1,132
15,683
Cleveland___
" s ’.500
179,635
14,977
" l 'i o d
558,400
96,200
48,580
St. L ouis—
146.000
1,339,800
17.000
125,000
209.000
19,050
P e o r ia .........
12,600
335,700
13.000
74.400
712.000
Kansas C ity.
272.000
Total week
Same wk. ’06
Same w k. ’ 05

288,898
193,689
207,572

4,835,784
4,328,786
2,955,915

Since A ug. 1
1906-07— 10,651,364 137,106,110
1 9 0 5 -0 6 ... 10,325,281 149,678,665
1 9 0 4 -0 5 ... 9,067,823 139,414,106

1
1
15 Jan. 1
15 Jan. 1
1 Jan. 17

Breadstuffs Figures Brought from Page 114.— The state­
ments below are prepared by us from figures collected.by
the New York Produce Exchange, The receipts at Western
lake and river ports for the week ending last Saturdayjand
since Aug. 1 for each of the last three years, have been:

1,707,399
1,270,202
1,104,006

3,369,142
3,847,109
1,926,128

5,579,682
4,949,206
4,964,492

242,207
133,112
92.752

83,987,188 103,443,172 39,888,072 4.432.067
88,592,121 124,355,160 50,108,038 5,213.352
87,081,441 89,535,127 45,153,479 4,714.309

Total receipts of flour and grain at the seaboard ports for
the week ended Jan. 5 1907 follows:
Flour,
bbls.
128,840
New Y o r k ......... ..
B o s t o n ___________
33,556
Portland__________
4,314
P h iladelph ia _____
75,031
B altifn ore...............
77,167
R ic h m o n d _______
3,000
Newport News____
20,752
New O rle a n s .a ___
10,537
Galveston________ ..______
M ontreal__________
3,895
4,377
Mobile____________
St. J o h n ................
12,141
P ort A rthur______ _______
T otal week.........
W eek 1906..............

373,610
393,770

Wheat,
bush.
344.000
609,038
230,645
196,855
27,019
32,834

Corn,
bmh.
657,900
79,353

Oats.
bush.
460,500
61,485
14,250
95,708
45,686
20.750

’ 169*638
706,937
21,518
368.000
238.000
1,216
12,000

" 6 9 ,0 0 0
98,000
6,485
’ 158,576
136.000

49,865

1,908,452
2,268,451

2,304,427
6,336,818

Barley,
bush.
19,200
1,825

R ye.
bush.
2,925

' 6 ‘,6oo
875

800
20,702

" 95,500
57,984
750
129,013

43,526

981,626
1,614,051

88,571
293,732

17.145

24,427
46,025

a R eceipts do not include grain passing through New Orleans for foreign ports
on through bills o f lading.

Total receipts at ports from Jan. 1 to Jan.
as follows for four years:

5 compare

Receipts of—
F l o u r --------------------------- bbls.

1907.
373,610

1906.
393,770

1905.
264,836

1904.
781,699

W heat_________________ bush.
C o m -------------------------------------O ats-------------------------------------B a r l e y _____________________
R y e — ........................................

1,908,452
2,304,427
981,626
88,571
24,427

2,268,451
6,336,818
1,614,051
293,732
46,025

725,829
4,756,872
528,135
169,818
27,165

3,802,205
2,301,920
1,485.731
184,192
71,056

Total grain.............................

5,307,503

10,559.077

6,207,819

7,845.104

The exports from the several seaboard ports for the week
ending Jan. 5 1907 are shown in the annexed statement:
Oats,
bush.
26,410
14,250
_____
______
____
______
7,473
____
750
129,013

_____
43,526

_____

12,141

Total week____1 ,923,517 1,947,140 232,698
Same time 190 6 .. 265,881 5.555,898 298,983

177,896
725,629

110,039
467,363

21.847
5.054

N ewport News___
New O rleans____
G a lv e s t o n ..____
M obile----------------Port Arthur_____
St. John, N . B ___

C om ,
Wheat,
bush.
bush.
484,382
305,524
230,645
204,914
169,569
321,000
17,145
132,000 1,014,497

R ye, B arley, Peas,
bmh.
bmh.
bush.
66,513 11,495
_____
_____
10,277
_____
_____
_____
_____
_____
_____
_____
_____
_____
_____
_____
_____
75
_____
_____
_____

Flour,
bbls.
39,147
4,314
20,508
54,064
62,686
20,752
6,536
8,173
4,377

Exports from—
New Y o r k ______
Portland..............
B o s t o n ..................
P h iladelph ia____

16,000
240,000
136,000
158,579

248,245
130,767
12,000
49,865

_____

The destination of these exports for the week and since
July 1 1906 is as below:

------------Wheat------------C o m -------------F lo u rSince
Since
Since
Week
July 1
Week
July 1
W eek.
July 1
Jan. 5.
1906.
Exports for week and Jan. 5.
1906.
Jan. 5.
1906.
bush.
bush.
since July 1 to—
bbls.
bbls.
bush.
bush.
814,921 28,840,386
United K ingdom ___142,403 3,325,315
898,323 10,498,286
C on tinent__________ 43,356 1,354,265 1,098,646 27,604,590 1.017,506 14,577,213
So. and Cent. A m er. 4,078
386,614
9.950
138,547
4,078
291,539
............
8,110
W est In d ie s........... . 27,233
740,351
27,233 1,062.264
Brit. N o. Am . Cols.................
56,893
............
8,000
............
50,527
Other Countries-...................
132,647
------ r 376,803
...........
151,897
T otal...................... 217.070 5,996.085 1,923,517 56.976,436 1,947,140 26,631,926
Total 1905-06______ 298,003 5,394,401 1,265,881 27,640,361 5,555,898 43.736,257

The visible supply of grain, comprising the stocks in
granary at the principal points of accumulation at lake and
seaboard ports Jan. 5 19 , was as follows

Wheat,
bush.
New Y o rk ....... ................. 1,640,000
B o s t o n ________________
248,000
P h iladelph ia __________
65S.OOO
Baltim ore_____________
582.000
396,000
New O rleans__________
Galveston-------------------527,000
M o n tre a l................ ........
39,000
T o r o n t o ______________
17,000
B u ffa lo............................. 5,086,000
afloat_______ 5,810,000
T o l e d o ______________ 865,000
D e tr o it ________________
624,000
C h ic a g o ....... ................... 10.001,000
M ilw aukee------------------578,000
F ort W illiam.................. 1,332,000
P ort Arthur----------------- 1,278,000
afloat..............
490,000
D u lu th ............................. 2,587,000
M inneapolis.................... 5,427,000
St. L o u is ......................... 3.409,000
Kansas C ity.................... 3,684,000
Peoria...............................
207,000
Indianapolis-..................
283,000
On Mississippi R iver___
______
On L a k e s----------------------------On Canal and R iver___
Total
Total
Total
Total
Total
Total

Jan. 5 1907--45.768.000
D ec. 29 1906..44.727,000
Jan. 6 1906.-45,226.000
Jan. 7 1905--40,266,000
Jan. 9 1904.-40,200,000
Jan. 10 1903.-50.116,000

C om ,
bush.
648.000
63,000
52,000
767,000
546,000
203,000
48,000
...
151,666
______
427,000
337,000
766,000
200,000

Oats,
bush.
600,000
22 000
151,000
201,000
202,000
___
61,000
8,000
512,000
1,606,000
1,078,000
56.000
1,432,000
679.000

193.000
271.000
652.000
386.000
113.000

5.823.000
4.619.000
1.282.000
10,919,000
6,208.000
6.795,000

R ye,
bush.
6,000

Barley,
bush.
48,000
42,000

135,000

----------

1,000

84,000

474,000
200,000
15,000
36,000
537.000
10,000

1,239,000
3SO.OOO
1,000

710.000
3.736.000
643.000
68,000
1.042.000
48,000

124.000
74.000
31.000

192.000
432.000
15,000

12.855.000
13.012.000
27.519.000
21.202.000
8.700.000
4.537.000

1.658.000
1.702.000
2.399.000
2.038.000
1.239.000
1.068.000

405,000

15.000

2.838.000
3.475.000

6.200.000
6.754.000
5.369.000
2.503.000

J a n . 12 1907.]

THE CHRONICLE.

K Statement of New York City Clearing-House Banks.—
The following statement shows the condition of the New
York City Clearing-House banks for the week ending Jan. 5.
It should be distinctly understood that as to all items except
capital and surplus the figures are the averages of the daily
lcsiiltsj not the totals £it tli6 end of the week. In other
words, in reporting loans and deposits and holdings of
specie and legal tenders, the practice is to take the aggre­
gate of the amounts for the several days of the week and
divide this aggregate by the number of days.
W e omit two ciphers (00) in all cases.
Banks
00s omitted.

Capital.

Surplus.

S
S
Bank of N. Y ._
2,000,0
2.956.2
Manhattan Co .
2.050.0
2.863.7
Merchants’ ____
2,000,0
1.490.0
Mechanics’ ____
3.000.0
3.680.6
A m e r ic a ______
1.500.0
4.083.8
P h e n ix _______
1.000.0
375.1
C it y ___________ 25.000.0 20.663.4
Chemical............
300.0
7.914.6
Merchants’ E x .
000,0
485.4
Gallatin_______
1,000,0
2.353.2
Butch- & D rov .
300.0
157.3
Mech. -fc Traders
700.0
386.9
G reen w ich ____
500.0
646.9
Am er. E x ch __
5.000.0
4.007.8
Commerce_____ 25.000.0 13,811,8
M erca n tile____
3.000.0
4.711.9
Pacific .............
500.0
772.7
Chatham______
450.0
1.018.2
People’s ............
200.0
466.3
North America.
2.000.0
2.197.5
H a u over______
3.000.0
Irving;................
1.000.0
1.157.8
Citizens’ Central
2.550.0
860.5
N a ssa u _______
500,o;
352.5
Market & Fultf
1,000,01 1.518.4
M etropolitan __
2,000,0
SQ9.2
C om Exchange.
3.000.0
Oriental . .
1.202.9
f 50,0
Im p. & Tradi^-c
7.030.9
1.500.0
Park
8.144.2
3.000.0
123.4
250.0
a a i t River
3.000.0! 3.083.1
FOUrtll . . . _____
300,0| 1,777.8
Second ..............
18.109
Firs*
N. Y . Nat . E x .
U1U.4
Bowic iy
250,0|
778.2
-V. Y . c o u n t y ..
840.7
200,0,
OWDlftn-Amer .
603.8
750.0
incase______ . . .
4.159.6
5.000.0
F ifth Avenue
100.0
1.840.5
German E x c h ..
5 1 4 .1
200,0
O erm an ia.........
936.5
200,0
L in c o ln ..............
300.0! 1,670,4
Garfield_______
1.000.01 1.391.1
F i f t h __________
250.0
456.6
M e tro p o lis ____
1,000,0| 1.660.3
W est Side.........
200,0!
8 4 6 .2
Seaboard______
1,000,0
1.260.1
1st N at., Bklyu.
300.01
685.3
L ib e r ty _____
1,000,0
2,224,9'
N . Y . Prod. Ex.
L o o o .o
571.41
New A m s t c r ...
1,000.0
280,9!
Astor . . . . . ___
350,0
727,7'
State ..................
564,0!
1,000,0

7.050.7

«,767.6

’ifflSI

T otals.

Loans.

Specie. \Legals. Deposits, a R es’rve

$

|

$
S
$
%
17.347.0
15.398.0 26.2
2.638.0 1.410.0
21.451.0
3,825,0j 2.669.0
24.156.0 26.8
11.627,4
884.0
2,419,5!
13.019.3 25.3
20.598.0
3,190,0' 2.144.0
20.551.0 25.8
21,880,2
4.562.6 2.245.1
24,020,9 28.3
7.107.0
1,077,0!
129.0
5.850.0 26.0
143,699,9 20.195.71 9.155.5 116.725,9 25.1
23.071.6
4,159,51 1.723.6
21.609.0 27.2
5.766.0
1,237,8!
291.4
6,104,3 25.0
8.257.3
885.8
639.5
5,942,8 25.6
2,524,2 21.8
2.401.4
489.8
6.570.0
877.0
904.0
7.438.0 23-9
. .
5.750.1
1,066,31 340.8
0,000,1 21.3
27.834.9
4,101,3: 1.303.0
20.768.4 26.0
134.454.0 17,147,3! 9.650.1 108,270,1 24.7
20,709,3
2,874,3: 1.252.0
16,921,6 24.3
3.307.4
209,7!
439.5
3.876.0 16.7
5.625.4
601,0!
850.0
5.629.6 25.7
2.084.8
158,7!
530.8
2.690.4 25.6
16,420,0) 2.657,8! 1.394.3
15,712,5 25.7
53.069.9 10.050.71 5.797.7 60,880,4 26.0
427.6
7.478.0
1,137,7*
6.865.0 22.8
19,873,2
3.136.6 1.791.1
JO,656,8 25.1
3.293.8
211,9;
3.564.5 19.0
7.043.2
1.076.5
591.0
6.546.3 25.4
10.652.7
2.503,6!
170.61 10,871,1 24.6
35.440.0
5.S34.0; 4.312.0
40,418 0;25.1
10,327.5
1,589,2!
373,4
9.979.3119.6
24,081,7! S, 850,01
20.734.0 24.4
67.910.01 16,249,01 4.388.01 77.340.0126.6
1,289,6;
1,574,6124.4
223.7
17,432,21 2.773.1; 2.365.3
19.050.0 26.9
9,339.0j 1.169,Qt l»W8.o|
0.318,0 26.6
$3,870.7] 12.557.7
6 3 .6 1 9 .0 1 2 2 .6
5.079.1
9.557.3 25.6
595.0
248.0
4.225.0120.0
3,845,0:
944,2
472.0
6,137,0|23.0
5,153,1!
3-,952,3j26.1
4,013,3!
850.1
50,321,4|25.2
47,154,41 11.539.7
11.669.3 27.6
603.6
10,697,1! 2.623.6
4,444,8 22.6
3 ,293,41
142.0
865.0
461.1
728.9
5.610.6121.2
4.595.8
17,407,4j 2,157,3 2.890.1
19.873.2125.3
7.666.6 22.4
7,617,7' 1.392.0
327.7
3.075.8123.2
3,071,4!
514,6
201.1
819.2 l,124,6f
9,831,0!
‘ ,383,0j 20.7
534.0
4,208,0!
4.482.0 24.8
578.0
17,132,0
3.027.0 1,676,0
19.590.0 24.0
711.0,
5.153.0 24.3
543.0
5,024,0!
678.6
8.472.7 24-5
10,701,8) 1.397,1!
7,027,2 25.1
1,306,8
462.7
6.074.0
630.8
573.0
5.939.7 20.2
5,332.3'
4.738.0 22.2
837.0
215.0
5,000,0!
15.144.0 25-1
186.0
12,550,0! 3.623.0

gm

JQ7-.51

1.200.01
mat

y.yoi,6j

1.183

124,050,0 155,654,0 1049,667,5T 72,951.4 77,341,0 1000,578,3 26.6

85

New York City, Boston and Philadelphia Banks.— Below is
a summary of the weekly returns of the Clearing-House banks
of New 1 ork City, Boston and Philadelphia. The New York
ngures do not include results for non-member banks:
________

Banks,

W e omit two ciphers (00) in all these figures.
Capital
i and
|Surplus.

Specie.

New York!
D ec. 8 . - 2 7 7 ,759.7
D ec. 15. _ (279 ,782,3
D ec- 2 2 ..
,782.3
D ec. 2 9 ..
,792,3
Jan. 5 . .
,782,3
B oston.
D ec. 1 5 ..
,680,0
D ec. 2 2 - .
,680.0
D ec. 2 9 ..
,680,0
Jan. 5 -,680.0
Phila.
D ec. 1 5 ..
165.0
D ec. 2 2 ..
165.0
D ec. 2 9 -165.0
Jan. 5_.
165.0

S
1044,668.8
1027.666.3
1027.183.3
1032,973,0
1049.667,5
183.446.0
186.122.0
183.439.0
178.521.0

171,954,9
171,940,1
176,627,6
179,323,0
172,951,4

Legals. Deposits, a Circu­
lation.
S
66,887,8 982,177,5
68,126,2 967,061,4
69,565,5 971,648.8
71,371,5 981,301,1
77.341,0 1000,578,3

15.306.0 5,494,0
16.125.0 5,625,0
15.160.0 6,094,0
15.748.0 6,265,0

222,024,0;
219.546.01
218,194,0|
217,221,0'

52.979.0
53.435.0
53.760.0
57.806.0

___

W e omit two ciphers (00) in all cases.

Sur­
plus.

N. Y . C ity.
Boroughs o]
M an.& B r’x .
S
S
W ash. I l ’g’ ts
168.S
100,0
Century ____
152.6
200,0
Chelsea Exch
100,0
98,8
C o lo n ia l____
405.4
100,0
C olum bia. . .
300,0
436.7
Consol. N at. 1,000.0 1.122,4
F id e lit y ____
200.0
148.4
500,0
168,1
14th S tre e t..
200,0
225,7
H am ilton ___
500,0
635,0
Jefferson____
250,0
189,3
Mt. Morris . .
200,0
260,9
M utual_____
200.0
250.8
19th W a r d ..
100,0
318,3
P l a z a ______
100,0
108.5
R iversid e__
200,0
200,2
12th W a r d ..
100,0
164,9
23rd W a rd -750,0
789,3
Union E xch .
383,2
100,0
Y o r k v ille ___
500,0
550,9
Coal <fc I. Nat
204,3
200,0
34th St. N at.
116,5
200,0
Batt.Pk.N at.

Loans.
and
Invest­
ments.

Specie.

Legal
Tender
and
Bank
Notes.

D eposit with
Clear­
ing
Agent.

Net
Other
Banks, Deposits.
&c.

$
. _. _
20,7
59,5
162.6
____
263,0
____
141.4
250,0
240,3
57,9
61.1
200,0
____
72,8
____
110,6
600,0
18,0
60,0
10,0
------

$
670,0
1,216,1
1,174,5
4,619,8
6,215,0
4,566,4
984,2
6,422,5
5,763,1
4,179,9
3,103,1
3,323,8
4,198,0
4,163,0
1,884,6
2,861,0
2,205,6
7,452,0
3,664,7
4,700,0
1,456,6
578,7

S
869,2
1,276,5
1,008,1
3,966,5
5,873,0
7,350,0
1,018,6
5,776,6
5,333.3
4.209,1
2,714.1
3.080.9
3.851.2
3.974.0
1,708.3
2,420,0
1,810,8
7,744,5
3,246,0
5,007.0
1.385,5
748,1

S
16.1
31,6
78,3
130,7
329.0
472,1
19,1
50,1
255,7
13,0
123,9
27.8
22,4
257,0
27,1
48,0
70,1
352,1
60.1
610.0
328,1
72,4

$
35,6
43,2
44,5
373,5
288.0
146,2
50,4
494,8
209,2
293.9
113,1
423,6
290,0
253,0
139.1
240.0
189,6
176,1
338.2
195,0
10.5
16,3

$
38.4
88.1
35,2
468,5
• 377,0
394,7
109,8
408,3
121,5
233,8
194,0
179,7
176,7
112,0
77,4
225,0
157,0
81,4
142,9
771,0
69,6
99,0

Borough of
Brooklyn?
150,0 2,767,0
200,0
Borough ___
408,5 2,767,8
150,0
Broadway . .
164,0 1,943,5
300,0
B r o o k ly n ___
702,9 4,848,7
252,0
Mfre.’ Nat . .
943,8 10,423,4
Meehan es’ _ 1,000.0
894,6 6,280,0
750,0
Nassau N at _
638,0 3.249,0
300,0
National City
209,1 1,655.2
100,0
North Side. _
U n ion ______ 1,000,0 1,077,1 11,589,0

61,7
21,8
151,3
404,5
312,1
215,0
133,0
32,5
278,0

218.2
186,3
99,4
184,4
733,2
438,0
275,0
120,9
601,0

161,7
221.9
248,5
m i
1.106.0
554,0
49,7
1,463,0

Jersey City.
F rst N a t ___
H ud. Co. Nat
Third N a t .. .

400,0 1,163.2
703.6
250,0
331,5
200.0

4.183,9
2,566.5
1.914,0

195.2
130,8
53,9

312,4
105.2
107,3

3.133,8
312,
672. C

585,0
92,4
23,8

6,772,1
2.408,5
2,439,2

H oboken.
First N a t ___
Second N a t .

110,0
125.0

578,7
193,3

2,529,7
1,527,2

161,8
45.7

23,9
49,1

186.'103.2

86,3
95.1

2,390,4
1,651,8

116,2 3,062,3
58,8 2,910,4
34,4 2,201,2
186,0 5,158,6
174,7 12,271.9
6.130,0
74,0 3,762,0
196,9 1,804,9
1,023,0 13,548.0

Tot. Jan. 5. 11237,0 15257,3 132616.2 5,597.0 7,818,1 14.30S.8 .-,074,5 141913,9
Tot. D ec. 29. 11237.0 15257.3 131423.1 5.850.5 8,012.5 12.070,4 5,106,7 138249,9
15257,3 131385,1 5.785.6 7,701.0 11.700.9 5,181,8 137603,4
T ot. D ec. 2 2. 11237




207.258.0
210.833.0
204.569.0
214.861.0

8.693.0
8.709.0
8.687.0
8.656.0

169,855,8
182.565.6
133.627.7
199.483.6

248.375.0
248.512.0
247.041.0
250.944.0

14.591.0
14.127.0
14.041.0
14.057.0

153.427.7
162,415,4
136,443,1
156.237.8

a Including for Boston and Philadelphia the item “ due to other banks’ ’ and also
Government deposits. For Boston these Government deposits amounted on Jan. 5
to 54,614,000; on D ec. 29 to $4,617,000.

Imports and Exports for the W eek.— The following are
the imports at New York for the week ending Jan. 5; also
totals since the beginning of the first week in January:
FO R E IG N IM PO RTS A T N E W Y O R K .
F or week.

1907.

1906.

1005.

1904.

D ry G oods ..............
General Merchandise_______

53,827,756
11,939,471

$3,712,594
10,996,013

S3,127,174
10,282,376

$2,848,468
9,005,193

T o t a l ____________________
Since January 1.
D ry G oods__________________
General Merchandise_______

S15.767.227

S14.708.607

513.409,550

511,853.661

53,827.756
11,939.471

$3,712,594
10,996,013

S3,127,174
10,282,376

52.S4S.468
9.005,193

Total 1 week_____________

S15,767.227

$14,708,607

$13,409,550

511,853,661

The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending Jan. 5 and from Jan. 1 to date:
E X P O R T S FR OM N E W Y O R K F O R T H E W E E K .
1904.

1905.

1907.

1906.

For the w eek......... ...................

511,231,310

S12,458,650

$9,225,597

510,207.530

Total 1 w eek_____________

$11,231,310

$12,458,650

$9,225,597

$10,207,530

The following’5table shows the exports and imports of
specie at the port of New York for the week ending Jan. 5
and since Jan. 1|1907, and for the corresponding periods in
1906 and|1905:

Reports of Non-Member Banks.— The following is the
statement of condition of the non-member banks for the
week ending Jan. 5 1907, based on average daily results.

Capi­
tal.

S
53,740,9 !,177,345,4
53.551.1 ,269,155,7
53,525,6 ,414,023,5
53,670,8 ,722,704,0
53.664.2 ,125,942,2

E X P O R T S A N D IM PO RTS OF SPEC IE A T N E W Y O R K .

a Total United States deposits included. $16,401,600.

Banks.

Clearings.

Imports.
Since Jan. 1

Week.

Since Jan. 1

Great B r ita in _______
F ra n ce ______________
G erm an y____________
W est Indies_________
M e x i c o ........................
Soutli A m erica--------All other cou n tries...

$6,000

56,000

535,886
6,051
54,100
13,210

$34,919
6,051
.52,800
13,210

T otal 1907..............
Total 1906...............
Total 1905...............

S6.000
518.000
2.356,370

$6,000
518,000
2,106,370

$109,247
26,276
32,100

$106,980
26,276
26,478

S531.434

5272,124
"""5 4 7

2.861
23,129
74,394

2.806
23,129
74,394

$272,671
1,109,494
671,081

S100.384
42,947
29.699

S100.329
42,947
6.575

Silver.
Great B r ita in _______
F ra n ce ..........................
G erm an y____________
W est Indies_________
M exico _____________
South A m e rica______
All other co u n tries...

~547
$531,981
1,109,494
755,921

Total 1907-......... ..
Total 1906________
Total 1 9 0 5 ..............

Of the above imports for the week in 1907, $37,651
were American gold coin and $2,161 American silver coin.
Of the exports during the same time $6,000 were American
gold coin a n d ______ were American silver coin.

gaulUii0 cixul ! 7hmnciaL
Write for oopy of our 12 page oiroular of C o m p a r a tiv e V a lu e s
o f R a ilr o a d B o n d s describing about 60 Issues listed upon the
N. Y. Stock Exchange selling at less than par value, with high
and low range since January 1 1905

Spencer Trask & Co*
B r a n c h O ffic e , A l b a n y ,

M

N.Y. W illiam and Pine Sts., New York.

o f f a t

&

W

h i t e

Members New Y ork Stock Exchange.
6 N ASSAU STRE ET.

H A N O V E R B A N K B U IL D IN G

D e a le r s in I n v e s t m e n t S e c u r itie s .
COMMISSION O R D E R S EXECU TE D F O R C A SH O N LY

THE CHRONICLE.

86

fP a ttk m 7

( S a j& e t te .

F or Dividends see page 83.

Wall Street, Friday Night, Jan. 11 1907.
The Money Market and Financial Situation.— The security
markets have been more active this week than during the
holiday period. In the bond department at the Exchange
during the early part of the week there was a notable increase
in the volume of business, suggesting a larger investment
demand, but the §3,000,000 record then made has not been
maintained. Instead, the transactions have day by day
grown smaller until they are only one-half to two-thirds
the amount mentioned.'
Evidently some of the influences affecting sentiment and
operations in Wall Street are more or less at variance. Ex­
change rates at several interior points indicate that a return
flow of currency towards this centre is well under way and
the local money market is easier. Abroad, too, the financial
situation has improved this week. The Bank of England
reports an increase of reserve to about 40% of its liabilities,
as against 3 3 % % last week, and both the Bank of France
and the Imperial Bank of Germany have materially increased
their gold reserves.
At the same time the shares of certain railway companies,
whose affairs are being officially or judicially investigated,
have declined in value and a tendency to caution in invest­
ment circles seems to very generally prevail.
The open market rates for call loans on the Stock Ex­
change during the week on stock and bond collaterals have
ranged from 2 to 1 5 % .
To-day's rates on call were
4 @ 5 % % . Prime commercial paper quoted at 6 @ 6 % %
for endorsements and 6 @ 6 % % for best single names.
The Bank of England weekly statement on Thursday
showed an increase in bullion of £1,371,154, and the per­
centage of reserve to liabilities was 39.97, against 33.50
last week.
The discount rate remains as fixed October 19 at 6 % .
The Bank of France shows a decrease of 7,425,000 francs
in gold and 1,550,000 francs in silver.
The New York City clearing-house banks in their state­
ment of January 5 showed a decrease in the reserve held of
$402,100 and a surplus over the required reserve of $147,825,
against $5,369,225 the previous week.
1907.
Jan. 5.

Differences
from
previous week.

1906.
Jan. 6 .

1905.
Jan. 7.

8
$
S
$
123,150,000
116.472.700
115,972,700
156,032,300
140.S00.500
135,482,500
Surplus ----------- --------Loans and discounts— 1,049,007,500 Inc. 16,694,506 1,004,658,300 1,069,742,700
53,664,200 D ec.
C ir c u la tio n ___________
6,600
52,912,900
43.172.400
N et deposits___________ 01000,578,300 Inc. 19,277,200 983,742,800 1,109,168,000
172.951.400 Dec. 6,371,000
167.336,000 203,084,000
77,341,000 Inc. 5,969,500
79,170,700
Legal tenders__________
85.210.400
Reserve held_____ ____

250.292.400 Dec.
250,144,575 Inc.

402,100
4,819,300

246.506.700
245.935.700

288,900,400
277,292,150

Surplus reserve_____

147,825 Dec.

5,221,400

571,000

tll.6 0 8 .2 5 0

a $10,401,600 United States deposits included, against S1G,529,000 last week and
$8,423,000 the corresponding week in 1905. W ith these United States deposits
elim inated, the surplus reserve w ould be S4,248.225 on Jan. 5 and $9,501,475 on
D ec. 29.
N ote.— Returns of separate banks appear on the preceding page.

Foreign Exchange.— The market was lower this week, in­
fluenced by firm rates for money, by some speculative selling,
and by a light demand for remittance; the tone was steadier
at the close.
To-day's (Friday’s) nominal rates for sterling exchange
were 4 81 for sixty day and 4 85% for sight. To-day’s
(Friday’s) actual rates for sterling exchange were 4 8050@
4 8075 for long, 4 8475@ 4 8485 for short and 4 8555@ 4 8565
for cables. Commercial on banks 4 8010@ 4 8020 and
documents for payment 4 7 9 % @ 4 8 0% . Cotton for pay­
ment 4 7 9 % @ 4 79M- cotton for acceptance 4 8010@ 4 8020
and grain for payment 4 8 0 % @ 4 8 0 % .
To-day’s (Friday’s) actual rates for Paris bankers’ francs
were 5 2 2 % @ 5 21 % for long and 5 2 0 @ 5 19% /i for short.
Germany bankers’ marks were 9 3 % @ 9 3 15-16d for long and
9 4 % @ 9 4 ll-16d for short. Amsterdam bankers’ guilders
were 40 03@ 40 05 for short.
Exchange at Paris on London to-day 25f. 21c-.; week's
range 25 f. 21% c. high and 25f. 21c. low.
The week’s range for exchange rates follows:
-------------- Long-------------- -------------- Short------ ----------------------- Cables----------- Sterling Actual—
H igh______ 4 8075
@ 4 8125
14 8520
@ 4 854014 8620
@ 4 8635
L o w ______ 4 8045
@ 4 8050
|4 8465
@ 4 8470|4 8550
@ 4 8560
P a ris Bankers’ Francs—
H igh______ 5 22%
@ 5 21%
15 19?-i^
@ 5 19 H a I .....................................
L o w ______ 5 23%
@ 5 22%
15 20h
@ 5 19%ft |
Germany Bankers’ Marks—
H igh______ 93%
@ 93 15-16d| 94%
® 94 11-16<Z|
L o w ______ 93%
@93%
| 94 9-16
@ 9 4 % | ................ .....................
Amsterdam Bankers’ Guilders—
H i g h .. ............................................. ..
I 40 03
@ 40 05
|
.................................
i 40
@ 4 0 1-16 | .................. ...................
L o w ............
Less:
Plus:

a 1-16 of 1% .
k 1-16 of 1 % .

d 1-32 o f 1 % .
x 1-32 o f 1 % .

h 3-32 o f 1 % .
? /3 -3 2 o fl% .

The following were the rates for domestic exchange on
New York at the undermentioned cities to-da3r: Savannah,
buying, 50c. per $1,000 discount; selling 75c. per $1,000
premium. Charleston 10c. per $1,000 premium. New
Orleans bank 40c. per $1,000 discount; commercial 25c. per
$1,000 premium. Chicago, par; St. Louis 10c. per $1,000
premium; San Francisco 50c. per $1,000 premium.




[V ol.

l x x x iv

.

State and Railroad Bonds.— No sales of State bonds have
been reported at the Board this week.
As noted above, the market for railway and industrial
bonds was unusually active on Monday and Tuesday, but
later the aggregate daily transactions are little larger than
the recent average.
A few issues have been conspicuously active, including
Atchison, Interborough-Metropolitan, Pennsylvania and
United States Steel. Closing quotations are in many cases
fractionally higher than last week.
United States Bonds.— Sales of Government bonds at the
Board include $1,000 4s coup.,1907 at 100% , $7,000 4s reg.,
1907,at 100% , $1,0003scoup., 1908-18,at 103% , and $3,000
4s coup., 1925, at 129% . The following are the daily
closing quotations; for yearly range see third page following.
Interest
Periods
2s,
2s,
3s,
3s,
3s.
4s,
4s,
4s,
4s,
2s,

1930 _____
..registered
1930------------------ coupon
1908-1918 ------ registered
1 9 0 8 -1 9 1 8 .-------- coupon
1908-1918--small coupon
1907 _____ — registered
1 9 0 7 --.................c o u p o n
1925 ------------- registered
1925-. --------------- coupon
1 9 3 6 .-Panam a Canal reg.

Jan.
5

*104%
*104
Q— Feb *102
Q—-Feb * 102%
Q— Feb * 102%
Q — J a n * 100%
Q — J a n * 100%
Q— Feb *129
Q— Feb *129%
Q— N ov
Q— Jan
Q— J a n

Jan.

Jan.
8

Jan.
9

Jan.
10

Jan.
11

*104%
*104%
*102
* 102%
* 102%
* 100%
* 100%
*129%
*129%

*104%
*104%
*102
* 102%
* 102%
* 100%
* 100%
*129%
129%

*104%
*104%
*102
* 102%
* 102%
* 100%
* 100%
*129%
129%

*104%
*105
*102
* 102%
* 102%
100%
100%
*129
*129%

*104%
*104%
*102
103%
* 102%
* 100%
* 100%
*129
*129%

* This is the price bid at the morning board; no sale was made.

Railroad and Miscellaneous Stocks.— The stock market
has been more active than last week, over 1,000,000 shares
having been traded in on Monday. The market was inclined
to heaviness during the early part of the week, especially on
Tuesday, under the influence of a 15%-call-loan rate, but
prices generally recovered later on easier money market con­
ditions. To-day, however, the market was weak, following
the announcement that Pennsylvania officials will ask the
stockholders to authorize a large new issue. The stock de­
clined 4 points.
The other exceptional features have been Great Northern
and Northern Pacific, which declined about 6 points and re­
covered feebly. Delaware & Hudson has lost a part of the
advance noted last week, and Canadian Pacific is down over
5 points.
The miscellaneous and industrial list has been less erratic.
Anaconda Mining has kept within a range of less than 5
points, closing near the lowest. Colorado Fuel & Iron has
been relatively strong, and Steel preferred is nearly a point
higher than last week.
F or daily volume of business see page 96.
The following sales have occurred this week of shares not
represented in our detailed list on the pages which follow:
STOCKS.
W eek ending Jan. 11.

Sales
for
W eek :

Range for week.
Lowest.

Alice M ining-----------------■ 400 $6 % Jan
Amer W oolen rights____ 31,901
5c. Jan
Bethlehem Steel Corp__
100 20% Jan
P re fe rre d -- ________ j
100 65 Jan
Can Pac subscrip rec’ ts .-l
148 194%Jan
Comstock T u n n e l______ ! 14.600 35c. Jan
Consolidation Coal_____ 1 200 97% Jan
Des Moines & Ft Dodge-:
300! 10 Jan
General Chemical, p r e f..
500 100% Jan
General Electric r ig h ts.. 22,289 ll% J a n
K nickerbocker Ice, pref.;
200 68% Jan
Manhattan B each______ 1 200; 5 Jan
N Y & X J Telephone.
113 112%Jan
3,660j 4 Jan
Ontario Silver Mining___ 40,200 5 Jan
Quicksilver M in ing--------!
% Jan
500!
Sears, R oebuck & C o.,pf ! 240: 93% Jan
Standard M ining—
1,300 $3% Jan
United Cigar Mfrs, pref.j
700 93 Jan
300 111 Jan
U S Leather, pref--------- ]
Vulcan D etin n in g ......... J
25 8 Jan

Highest.
7 $7% Jan
7, 11c. Jan
10 20% Jan
9 65 Jan
5 194% Jan
7! 43c. Jan
11 98 Jan
8: 18 Jan
11 101% Jan
10 12 Jan
8 68% Jan
9 5 Jan
11 115 Jan
5' 4% Jan
7 8 % Jan
1 Jan
10
8 93% Jan
8 S3.70 Jan
11 94% Jan
9 112 Jan
5 8 Jan

Range Year 1906.
Lowest,
11' $2%
10' 3c.
10 17%
9*| 62
' j 153%
7 10c.
11 95
7| 14
10- 102
7 11%
66
S
5
10
5; 124
Hi, 4%
10! 1%
10= 1%
93
11 $2 %
5i 90%
10; 103%
5!' 8

j Highest.

Jan: $9%
Deci 25c.
Oct! 26%
Dec 88%
July 190%
Mch, 40c.
S ept'100
Oct: 23%
Nov! 106%
Dec 12%
Dec! 85%
May' 15%
O ct1155%
Dec 5
June; 5%
Mch 2%
Dec 95
Dec! $5
Dec. 94
July 117
Deo 15%

N ov
Dec
Aug
June
Dec
Mch
N ov
Jan
Feb
N ov
Sept
Jan
Feb
Dec
Dec
Jan
Dee
Jan
Dec
Feb
Jan

Outside Market.— The activity and more important price
changes in outside securities this week have been confined to
a few issues, the market on the whole being of an uncertain
character. Tennessee Copper was unusually active and
from 50 reached 5 5 % , ending the week at 53 ex-div. Greene
Consolidated Copper rose from 32% to 3 3 % , then dropped
to 3 0 % , closing to-day at 31. United Copper common ad­
vanced from 7 4 % to 7 5 % , sank to 73, the close to-day being
at 7 3 % . Nevada-Utah moved up from 4 % to 5 % and to­
day eased off to 5. Trinity Copper fluctuated widely, a loss
of 10 points to 30 being followed by a jump to 39. It de­
clined finally to 3 0 % . Boston Consolidated Copper ad­
vanced from 33 to 3 3 % , but fell off to 3 1% . Davis-Daly
Estates sold up from 17% to 19 and back to 17% . Utah
Copper advanced from 35 to 3 7 % , but reacted to 37. Nipissing in the beginning of the week rose from 14% to 15, but
weakened and to-day dropped to 13% , closing at 13% .
Manhattan Transit and Mackay Companies issues were the
leading features outside the copper shares, the former ad­
vancing from 3 % to 5 % and to-day,on heavybuying, to 6 % .
The close was at 5 % . Mackay Companies common advanced
from 7 0 % to 74% and ends the week at 73. The preferred
from 67% rose to 71. Western Ice ran up from 24% to
3 0 % , weakened to 27% and closed to-day at 28. Standard
Oil lost a point to 525, subsequently advancing to 538% .
American Writing Paper preferred gained about six points
to 26. Havana Tobacco common sold up from 13% to 15
and back to 14% . Mallory Steamship rose sharply from
41% to 45. Great Northern rights from 21 advanced to
2 1 % , sank to 18 and recovered finally to 20.
Outside quotations will be fo.ind on page 96.

New York Stock Exchange—Stock Record, Daily, Weekly and Yearly
O C C U P Y IN G
8 T O C E S -- H lt iU K U a

A A'Z> L O W E S T S A L E P R I C E S

S a tu rd a y
Jan 5

jv n n n a y
Jan ?

Tu-.o tLa ij
Jan 8

*v ennesn.au
Jan 9

1064 1064
100 I 0 0 4
132 Si 133 4
121% 122
93 4 93 4
80
814
*115 135
*128
'8 0
*88*’
194*4 195 4
* 6 3 4 66
*216 220
65*4 rO
27
2 14
69
69
174 174
80
*77
*69 4 73
2 5 4 2t>4
1 50 % 153 4
1»4 4 1 6 5 4
3 4 4 33%
202 4 203 4
23 3->4 2 3 3 4
*1 6 5 17.')
*17.'. 185
12
*9
29
*22
5«s
54
1 8 4 1 8 34
9 1 “,
91
*108 4 1 1 2 4
37
3 14
6 7 4 (594
57 4 58%
225 225
*520 535
4 2 4 42%
83
S3
*824
19 4 l"i’ 4
*37
40
4 3 4 441,
75 >4 75 s,
66% 66 4
70
*65
95
*85
187 1 8 8 4
84 4 85
.......... . . . . . .

10641084
100 4 101
132% 133
121 4 1 2 2
93% 93%
80 4 8 3 ^
150
'1 1 5
*128
*80 * 8 8 "
193 4 1 9 4 4
*04
654
'2 1 5 220
55 4 50
* 2 6 4 30
*
. . . 70
174 174
*77
80
* 0 9 4 73
* J 0 *4 26 4
1 5 1 4 152 4
161 164 4
3 4 4 35 4
2 0 1 4 203
*230 234
'1 6 5
175
*175 185
*9
12
*22
28
54
54
1 8 4 18 4
92*4 92 7„
107 4 1 0 8 4
37
37 4
69 4 6 >4
57 4 58
224 224
•515 535
4 2*8 4 2 4
82 4 82 4
* 8 2 34 82 4
1 9 4 19 Hi
*37 4 41
4 3 4 44 4
75 *2 75 4
6 0 4 07
*05
70
*85
95
lbti 189 4
83 4 85
*80 . . . . . .
*13
15
45 4 45 4
*84
86
*_____ 126
* 9 I 4 94
169 170
3 6 4 37%
74 4 7 0 li
284 284
51
51
* 7 3 4 80 4
*29
30 >,
004 6 L
*28
33
*70
80
66
66
144 4 145
14 2 34 1 43 4
*105 n o
20 4 2 0 4
5 8 4 5a 4
88
88
137 137
*160 16i»
41
414
72 4 V2 4
9 2 34
92
•140 145
5 8 4 59
*26 4 28
1 3 3 4 134%
63 4 03 4
*112 120
90 4 9 1 4
* 1 8 9 4 191
48
484
9 1 4 92
*88
904
1 8 7 4 189 4
____ _ . . . . . .
1 2 3 4 124 4
*100 108
•120 128
140 141 4
*34
40
*77
814
*100 108
130 4 1 3 9 4
91
92
9;
94
29 °8 3 0 4
64
04 4
* 6 8 4 72
*47 4 48 4
2 5 4 25 4
59
0 9 7e
94
94%
117 117%
334 334
944 944
364 374
*120 123
2 8 34 29
33 4 333,
53 4 5 3 4

10 5 4 1C 74
1 0 0 4 ! 01
131 131
121 12 14
93 4 9 3 4
>3 4
81
< 1 !5 150
*130
HS
•80
192 4 194
*63 4 05 4
■2 15 220
55
56
2*5 4 2-i 4
08
68
17 4 1 7 4
*77
80
*69 4 73
25
254
1 4 « 4 152
163 163 4
;>;i 78 3 4 4
199 202 4
226 23 1
170 170
*175 185
12
*9
*22
28
54
•54
18 4 1 8 4
92 4
*91
*107 112
36 4 36 4
*68'4 69 4
58
584
222 223
*515 535
*41 4 42 4
83
83
{ 8 0 ‘s 80
*19
134
40
*36
43
43 4
75*4 75 4
*66
67
70
* 65
‘ 85
95
1*6 1*9
82% 84
......
"1 5 "
43
44
84
83
* . . . . 126
*91 4 9 3 4
169 169
36 4 37%
74 4 7 4 4
28% 28%
5 0 4 50 4
*78 4 8 0 4
* 2 8 4 30 4
60 4 6 1 4
33
*28
*70
80
*65
68
143 4 1 4 4 4
143 143 4
*105 109
26 4 2 6 4
58
58
89
89
li> 64 137
*165 170
40 4 4 0 4
7 134 7 2
9 1 4 92%
■145 147
58 4 58 4
*26 4 28
132 4 134 4
03 4
*60
*112 120
92
*H8
•1 8 s 191
47-4 4 7 4
9 1 4 91%
90 4
*88
1 8 5 4 188
.....
i2 4 * ‘ i ‘2 4
*100 108
•120 125
139% 141%
*34
40
*77
814
*100 110
135 1 3 7 4
*90
914
94
94
29 4 2 9 4
64
644
69% 6 9 4
*47 4 4 8 4
*24
25%
59
59
92*8 9 4 4
117 1 1 7 4
31 \ 33%
9 3 4 94
36
364
123 123
2 8 4 29
33 4 33 4
524 524

1 0 6 4 1074
1004101
131 131
121 1 2 1 4
9 3 4 94
8 1 4 82 4
*115 135
*130
*80 * 8 8 * '
l 9 2 5a 1 9 3 4
65 '4 65 4
* 2 l » 2*0
55 4 55%
*26
27
70
'1 7 % 17%
*77
80
70
714
20
*25
1 50 4 1514
1 6 3 4 164^
34%
31
199 2 o o
' 22 j 23 4
•105 1 (5
*170 185
*9
12
*22
28
534
54
1 8 4 19%
*90
91%
*108
3 0 4 *3- 4
69
69
h 7 4 57 4
•221 223
•5 iO 515
*40
42 4
84
*82
*80
90
* 1 8 4 1934
*37
40
43
43%
*70 4 7 0 4
66
06
75
*0 j
*S5
95
183 180 4
82 4 83 4
*ou
* _____ *15**
44
45
84
81
*......... 126
*J1^ 9 3 4
169 109
36*4 37
74
74
*28
29
*50
51
* ,9
80 4
*28 4 30 4
Oj % 61%
*28
33
*70
80
67 4 67 4
143 4 143*8
143 143 4
*105
110
2 6 4 264
57
58
*87
88
1 34 4 136 4
*165 169
40 4 4 0 4
72*-.. 72 4
9 1 4 92 4
144 145
4 09%
*26 4 28
1 3 2 - j 13 o 4
*00
03
•112 120
*86
92
189 189
47 4 4 7 4
91
91
*88
89
$159 162 4
20*B 23 34
•123 I 26
*100 108
*120 1 2 5 .
13941404
*34
40
*77
814
*100 108
135*8 137%
*90
914
*93
95
29% 29%
*62 4 6 4 4
*69
69 4
‘ 17
48
*24
25
* 5 8 4 59 4
92% 93 4
117% U 7 4
3 14 3 2 4
91
93
35 >4 3 5 4
*120 123
*28
29
334 334
5 2 4 52 4

" 45” ' 45”
86
*84
12(3
* 9 4 * 94
1 7 0 34 1 7 0 4
36
36 4
7334 7 4 4
2 8 % 2 8 34
/>0
504
79 4 79 4
3 0 34 3 0 34
61
61
33
*2 9
80
*70
ci7
*64
144 4 145 4
142%
142 4
*105 110
27=8
27
59
*57
*87
89
138 138
*167 169 4
40 78 4 1 4
72*4 72 J„
92 >h 9 2 4
*140 145
59
59
*26 4 28
1334134
62 *a 6 2 34
*112 120
90
90
*18941904
4 7 34 4S%
92
924
*88
90 4
18741894
...... ......
123
12 3 4
*98 106
»118 125
1394140
40
*35
*77
81 Vi
105 4 1 0 5 4
136 4 138%
91
91
*90
96
2 9 4 30 4
6 3 4 tS44
68
694
4V °8 18%
*24 4 2 5 4
6 9 4 5 9 a4
9 4 4 944
*11641174
3 3 4 34
9 4 4 94 4
304 364
•119 133
*27 4 29
3 3 4 334
523, 53

T h u rsd a y
J a n 10

TW O

PA <JK <

STOCKS
N E W Y O R K STOCK
EXCHANGE

J'rtaav
J a n 11

R a ilr o a d * .
104% 106% A tch . T o p e k a & S a n ta Fe
D o " p r o f ...................
100*8 1 0 1 4
129 130 A t la n tic C oa st L in e E R ..
1 1 8 4 1 1 9 4 B a lt im o r e cfe O h i o ...........
‘ 9 3 4 94 4 1 > D o p r e f..........................
B ro o k ly n R a p id T ran s it..
80 4 81
* L l5 128 B u ffalo R o c h e s te r & P it t s
*130
D o p r e f .. . ..................
*80
88
B u ffalo <& S u sq u e , p r e f ...
18 7 34 1 9 1 4 ( Canadian P a c ific .............
* 6 >>4 64 4 * 'a n a d a S o u th e r n .............
•215 220 C en tral o f N e w J e r s e y ...
53 4 5 4 4 C h esapeake <ft O h io ...........
•26
2 1) C h ica g o <fc A lt o n R l t ........
67 4 0 7 4
D o p r e f..........................
17
1 7 4 C h ica go Great- W e s t e r n ..
*77
79 4
D o 4 p. c. d e b e n tu re s
* 6 9 4 73
D o 5 p. c. p re f. “ A ” ..
25
25 4
D o 4 p. c. p re f. “ B ” ._
151 154 4 C h ica go M ilw . & St. P aul.
163 163 4
D o p r e f ..........................
33% 34
D o s u b s e r ip w a r ’ n ts 'rt
200 202 C h ica go & N o r t h W estern
'2 2 6 234
D o p r e f ..........................
' '•65 170 C h ic. St. P. M in n . & On).
'1 7 0
180
D o p r e f ..........................
*9
13 C h ica go T e r m ’ l T r a n sfe r .
25
25
D o p r e f ..........................
5 4 C h icag o u n io n T r a c tio n .
5 -4
174 184
D o p r e f ..........................
*90
91
C leve. C m . C h ic. <fc St. L .
*110 . . . . . .
D o p r e f ..........................
37 4 38
C olorado & S o u t h e r n ___
68
6S 4
D o 1st p r e f e r r e d ___
57
57 4
D o 2d p r e fe r r e d ........
220 220 4 I -jelaw are & H u d s o n ___
*5oo u35
» "ela w . L a ck . & W e s t ’ n .
3 8 4 41
D e n v e r & R io G ra n d e ___
82
824
D o p r e f ..........................
80
>■0 D e tro it U n it e d .....................
1 8 4 18% D u lu th So. S h ore <fc A t l ..
36 ‘4 3 6 4
D o p r e f ..........................
42 4 42 4 I ^ r ie ........................................
7 4 4 75
t-J D o l s t p r e t ...................
*65
66
D o 2d p r e f...................
*65
70
K van sv. <fc T e r r e H a u te ..
*85
95
D o p r e i ..........................
1 8 2 4 185 G rea t N o rth e r n , p r e t ........
79 4 8 1 4
T e m p c tfs fo r ore p r o p .
. . . . . . . . . . . . G re e n iUiycis W .,d eb. otf.x^
. ....
Do
deb. c tf. K
45
4 6 4 * 4 5 " 46
O a v a n a E l e c t r ic .............
85
85
*83
86
I A D o p r e f..........................
* ___ _ 126
*..........126
t lo c k in g V a l l e y .................
* 9 1 4 93 >4
03 4 93 4
D o p r e f ..........................
167 4 1 7 1 4 *166 170
I llin o is C e n tr a l.................
3 6 4 37
36
: :0 J4 i n t e r b o r o -M e t r o p o lit a n .
73
74 4 74 4
74
D o pref . .. . . .
2b
2 8 4 28 •*
28
I o w a C e n tr a l......................
*50
51
50
50
D o p r e f..........................
79 4 80
* 7 9 4 SO 4 T Z C .F t.S .& M .,tr . cts. p fd
29
29 4 2 9 4
29
A r a n s a s C ity S o u t h e r n ..
60 4 6 0 4
60
D o p i e f ..........................
60 4
*28
33
*28
33
[ ak e E r ie & W e s t e r n ...
* 70
80
*70
80
1 J D o p r e f..........................
*65
68
......
L o n g I s la n d ..........................
143*8 1 4 4 4 142 1*4*34 L o u is v ille & N a s h v i ll e ...
143 143
143 143 4 V I a n h atta n E le v a t e d ...
*105 110 *105 110
e tr o p o lita n S t r e e t ___
26% 2 6 4
26 4 26% M e x ica n C e n tr a l.................
*57
60
58
68 M in n e a p o lis & St. L o u is .
8 3 4 8 8 4 *87
90
D o p r e f..........................
131 134
131 132 4 M inn. S. P . & S. S. M arie.
100 165
*158 165
D o p r e f ..........................
394 404
3 9 4 3 9 4 M o. K a n sas & T e x a s ........
71
72% 72%
72
D o p r e f..........................
h8 4 9 1 4
8 7 4 8 9 4 M isso u ri P a c ific .................
143 143
•142 145
]\J ash. C hatt. & St. L o u is
59 4 5 9 4
5 9 4 59% l i a t-of M e x , n o n -c u m .p f
*26 “j 28
D o 2d p r e f ....................
*26 4 29
1 3 * 4 1 3 4 4 131
133 N . Y . C e n tra l & H u d s o n ..
58
{6 0
60
60
N . Y . C h ic. & St. L o u is ...
*112 120
D o 1 s t p r e f ...................
*112 120
9 1 4 9 1 4 *87
D o 2d p r e f...................
91
*183 1 9 1 4 *187 1 9 1 4 N. Y . N . H a v e n & H a rtf.
45
*474 484
4 7 4 N . Y . O n tario & W e ste rn .
9 0 4 90 4
9 0 4 9 1 4 N o rfo lk cfc W e s te r n ............
89
90 4 *89
D o a d ju stm en t p re f.
904
N orth ern P a cific ...............
1604162 4 1584160
21
22%
D o r ig h t s ......................
204 214
*123 125
*120 125
p a c i f i c C o a st C o ...............
*100 108 *100 108
IT D o 1st p r e f ..........
*120 125
*115 125
D o 2d p r e f ...................
1 3 9 4 1 4 0 4 135 4 1 3 6 4 P e n n s y lv a n ia .......................
*33
*34
40
40
P eoria & E a s te r n ...............
*77
8 1 4 *77
8 1 4 Pittsb. C in. C h ic. & St. L.
*100 108
*100 108
D a p r e f..........................
1 3 7 4 1 3 8 4 135 1 3 7 4 P e a d l u g ..............................
*89
*90
92
9 1 4 l-V dst p r e f ............................
{9 4
94
*94
95
2d p r o f ............................
28 4 2 9 4 B ock Isla n d C o m p a n y ....
294 294
62
64
64
D o p r e f..........
63 4
6 9 4 70
*69
694
St. L. i&S.Fr., 1st p r e f . . . .
47
D o 2 d p r e f ...................
*464 484
47 4
*24
25
24
24 St. L o u is S o u th w e s te r n ..
D o p r e f............... .........
* 5 8 4 60
5 84 584
92
93 ' 9 3 4
9 2 4 S o u th e rn P a c ific C o .........
D o p r e f...........................
1 1 7 4 U 7 4 118 118
3 1 4 31 34 S o u th e r n v .tr . c fs. stm ped
3 1 34 3 2 4
9 1 4 92%
D o p reL
do
914 914
353a 3 6 4
3 4 4 35% ’ p e x a s <fe P a c i f i c .............
*121 124
*122 125
JL h ird A v e n u e (N . Y . ) . . .
*28
29
2 8 4 29 T o le d o R a ilw a y s JSs L ig h t
33
3 3 4 33%
3 3 4 T oL St. L . & W . t . tr . c t fs
52 *» 5 2 34
D o p re f. v o t . tr. c t fs .
524 524
106% 1074
100 ■* 1 0 1 %
131 131
1 2 0 4 1214
94% 94 4
8 1 4 82 4
*115 128
*130 .........
*80
b8
1 9 2 4 194
*65
66
\220 220
£5
554
•25 4 27
* ......... 70
17 4 J7 4
*77
794
714 714
2 5 34 25*4
1 5 1 4 154 s,
164 4 164 4
34
344
201 4 2 0 5
234 234
■16^ 1<0
'1 7 0 180
•9
12
*22
28
*5 4
54
18
19
91
91
'1 1 0
.........
3 74 324
*69
09 4
*57 4 58
221 221
*500 535
* 40
42
83 7a 8 3 4
*......... 80
19
19
*38
40
42*8 “*3%
7 5 4 75%
66
66
*65
70
*85
95
183 4 1 8 5
82 4 8 3 4

tiange 1or P reviou y
R a n qe lor Y ea r 190 6
Sales 01
fl'ii. hrr.sis nt 7OO-sth n/rp. l.nts
Ypsi.t f 7<40K j
the
W eek
H i n hexC
Low eat
Loivest
H iah est
Sh ares
2S7.125
4,307
2,055
27.060
824
156,585
______

85% M ay 2 110 4 Sep 11
z 98
Dec 27 106 Jan 3
1 3 1 4 J ;ly 3 1 6 7 4 Jan 20
1 0 5 4 ,\lay 2 125 4 Sep 2 1
9 1 O ct 22 9 9 4 Jan 5
71 J ’ ly 12 94 4 Jan 23
12 4 N o v 7 153 4 f^ep 5
1.-.9 4 Nov 8 150 D e c 12
83 Jan 12 87
F eb 8
4 2 3 3 0 155% May 2 > 014 D e c 14
20
6 r> 4 3 ’ ne30 7 0 78J a n 8
20 204 M ay 2 239 7a May 24
17,620 5 1 4 N o v l2 6 >% AugoO
( 00 25 4 Sep 15 S.V% O ct 8
500 70 D e c 20 77 4 O ct 5
4,650 16 J ’ne28 •23*8 J an 20
79 4 Sep
86 4 Jan 17
**30*6 70 liitc 24 80 J a n 31
1,500 2 4 4 N ov 14 39% Jan 22
l i S .N i ! J140 4 D ec 29 199*8 D e c 17
2,4 17 $160 D ec :9 21S A u g '7
IS, *0* 32 4 D e c 31 X3 4 D e c XI
9 , 3 i „ 192 A p r 27 240 Jan 15
722 225 A u g 9 270 M ar30
100 168 J ’ne-'S 198 Jan 15
. . . . . . 175 N o v l4 202 J a n 15
9 4 A p r 19 1 8 4 Jan 19
*‘ 3*0*6 25 D e c 19 4 2 4 J a n 2 1.900
3 78 M ay 21 13*4 F e o 2 0
4,100 1 1 4 J ’ ly 12 47 4 M ai 12
600 89 D e c 2o 1 0 9 4 Jan 15
400 110 J ’ ly 19 118 Jan 23
10,150 2 9 4 Jan 4 4 1 O ct 3
960 6 6 4 A p r 30 73 4 F o b 20
3,500 43 May 2 59 D e c 3
1,940 189 M ay 2 2 3 14 N o v 2 2
......... 4 3 7 4 M ay 2 560 M ay24
3.400 36 4 May 2 5 1 4 Jan 26
500 83 O ci 2. 9 1 4 Ja n 22
150 7 9 4 D ec 31 102 F e b 9
500 16 J ’ly i3 2 2 4 Jan 11
100 32 A p r 28 45 ,lan 11
40,235 38 4 May 2 5 0 4 Jan 16
2,300 7 4 4 D e c 10 83 Jan 15
1,535 62 4 A p r2 7 76% Jail 16
. . . . . . 68 D e c 4 76 J a n 2
80 J ’ ly 13 94 A u g 2
.....
18,425 c l7 8 D e c 2-3 348 F e b 9
5 1,700 7 0 4 D ec l-t 8 5 D e c 6
. . . . . . 8 1 4 N ov23 9 2 4 Jan 22
____ _ 1 1 4 O ct 25 23 4 Jan 19
1,800 33 4 Jan 19 53 A u g l4
500 7 7 4 J an 15 9 7 34 M ay 8
1 1 3 4 F e b 8 135 A p r 2 4
**2*0*6 92 4 N o v lO 9 9 % J ’ ne 1
700 164 May 2 1 8 4 4 J ’ n e 7
2 8,860 33*8 J ’ ne27 5 5% M aylO
4 ,220 7 0 % J ’iy 3 87% M aylO
1,400 24 J ’ ly 12 3 4 4 Jan 12
900 4 8 J ’ly 17 63 34 J a n 13
400 77 O ct 22 8 4 *.2 F o b 7
300 2 2 7e J ’ly 3 3 7 % Jan 5
2,400 49 J ’l y 12 71 J a n P
. . . . . . 27 4 J ’l y 3 4 4 76 J a n 12
75 Sep 25 592 4 Jan 25
300 6 1 4 O ct 27 8 I 4 J a n 16
12,000 136 4 M ay 2 156 4 Ja n 19
3,824 140 Sep 25 162 J a n 26
_____ 103 J ’ly 12 127 Jan 16
4,800 18% M ay 2 2 9 4 D e c 15
1,500 5 8 4 D ee 3 ■ 84 4 j a n 11
4 00 96 A p r 27 IOO4 Jan 3
4,300 134 D e c 3 i 164 M ar24
400 163 4 A p r 30 l8 3 34 Jan 11
1 4,000 29 M ay 2 4 3 % N ov27
1,650 6 4 4 A p r2 7 76 Nov2i>
31,775 85 4 May 2 IO6 4 J a n 20
700 133 M ay 3 1 4 9 4 J an 12
2,400 3 6 A p r 27 <594 D e c 3
1 8 4 J ’ n e l6 30 D e c 1
48,60*0 126 No\’ i2 I 06 ‘4 Jan 8
1,250 59 M ar 5 73 4 A p r 17
111 A p r l 4 120 '8 Jan 27
690 8 0 M ay 3 ^2 D e c 4
100 189 4 D e c 24 2 0 4 4 Ja.n 19
8,650 43 4 M ay 2 5 7 4 j a n 27
2,795 84 F e b 28 97*8 O ct 2
602 8 9 4 A p r 12 96 J a u 6
6 3,600 1 7 9 4 M ay 2 2 3 2 4 F e b 14
6 2,170
...... ......
900 10*3 J a n *10 142 J ’ n e 5
105 J a n 5 106 J a n 29
105 4 J a n 10 135 Muy 8
512 ,190 122 4 J ’iy 2 147 4 Jan 23
. . . . . . 33 A p r 28 46 4 Jan 15
. . . . . . 75 M ay 2 87 J a n 24
100 100 M ay 4 109 A u g l9
1,018,300 112 M ay 2 z l 6 4 J a n 23
600 89 Sep 2b 96 J a n 2 2
210 90 A p r3 0 102 J a n 20
35,740 22 4 j ’ly 13 32*8 N ov 3 0
4,900 60 J ’ly 2 6 9 34 A u g26
900 60 F eb 26 7 2 4 A p r 3
900 4 0 4 J ’ly 17 5 1 4 F e b 6
300 20 io M ay 2 2 7 4 Jan 19
900 4834 M ay 2 63% S ep 10
82,020 61 M ay 2 9 7 4 Sep 21
1,735 U 6 J ’ ly 2 120 4 J ’n e 6
57,500 3 l * s N o v l2 42% J a n 26
4,700 9 3 4 D e c 15 103 J a n 16
11,100 28 M ay 2 4 0 4 O ct 2
100 121 N o v i 9 Z139& J an 17
1,000 25 4 D e c 12 36 J a n 22
1,200 2 5 4 J ’ ly 2 40 4 J an 19
1.400 43 J ’ ly 13 5 9 4 J an 19

77%
99
120
1004
91
564
140

May
Jan
Jan
Jan
M ar
M »v
M ay

93% M ar
105*8 Sep
170 A p r
117 A u g
100 A u g
!> 1 4 N ov
153 J a n

84
1304
07
190
45 4

D ec
Jan 1 7 7 4
N ov 7 4 4
MttV 235
May 60 4

MaySeP
Aug
O ct
ila r

__ _____

25 4
89
784
37 4
187 4
1924

M ar
Sep
Sep
Apr
Apr
Apr

1*7 4 M a%:
8 3 4 Ma\'
60 J ’ne
29 May
1 6 8 4 Mn\
182 4 Jan
......... ......
<219045 J ’ ne
234 Jan
150 Jan
195 Jan
734 Jan
1 7 4 Jan
6 J ’ ne
3 0 4 J ’ly
90 Jau
115 4 J ’ ly
22 4 Jan
52 May32 4 M ay
1 7 8 4 May
335 Jan
2 7 4 May
83 4 May76 4 J an
1 1 4 May21 M ay37 4 May
7 4 4 M »'
55 4 Jai
63 J ’ ly
85 N ov
236 Jan
..................
83 F eb
17 M<i'
15 A p r
50 J 'u e
86*8 Jan
90 Jau
1 5 2 4 Jan

249 Jan
2 6 5 4 F eb
225 Jan
230 Jan
26 J ’n e
4 2 4 J ’ly
1 3 4 F eb
54 F e b
111 M ar
12134 M ar
30 4 A p r
6 9 78 D e c
55 D e c
24 o34 O ct
198 4 O ct
3 9 4 D ec
9 1 4 D ec
9 6 4 D ec
2 2 4 N ov
4 6 :i4 N o v
524 Aug
85 4>, A u g
78% A u g
75 A u g
96 A u g
335 A p r

24 May50 May81 •%J ’ ne
22 4 M ay
52 Jan
2 8 4 J ’ ne
91 J ’ ue
5 0 4 May
rl3 4 4 Jan
161 May
114 May1 8 4 May
56 4 Jan
86 Jan
8 9 4 J an
148 Jan
24 May
5 6 4 Mav
94 4 M ay
137 Jan
3 3 4 May
1 7 4 J ’ ne
1 3 6 4 May
42 J a o
114 J ’ ly
74 May
{1914 D ec
40% Jan
76 Ma\
9 1 4 Feb
165 A p r

32 F e b
61 D e c
87 O ct
3 6 4 D ec
70 F eb
4 7 4 D ec
106 M ar
7 3 7s N ov
157% Sep
175 F e b
133 A u g
26 M ar
8 4 4 O ct
106 O ct
145 D e c
173 D e c
3 9 4 N ov
73 A u g
1 1 0 7a M ar
158 A p r
45 Ja ji
2 4 4 Jan
1 6 7 4 M ar
76 4 D e c
1 2 2 4 Jan
95 D e c
{2 1 6 Sep
64 M ar
8 8 4 M ar
96 A u g
216 4 Aug

7 8 4 Jan
100 Jan
85 Jan
1 3 1 4 May27 Jan
70 May
105 F e b
z 7 9 Jan
90 May
84 Jan
2 L 4 D ec
60 4 N ov
67 D ec
45 D ec
20 May
55 N ov
5734 May
1 1 5 4 Jan
28 May95 A p r
294 Apr
120 D e c
2 2 4 J an
34 4 May
5 1 3< Jan

ib’9 4 Oct*
108 F eb
109 O ct
148 A u g
4 8 4 Apr
1 8 7 4 M ar
112 M ar
1 43 4 N ov
97 hep
101 N o v
37 7S Jan
85 Jan
8 1 4 M ar
73 4 M ar
2 7 4 Jan
66*8 A p r
72% F eb
1 22 4 D ec
38 Sep
1 0 2 4 Sep
41 M ar
141 D e c
37 4 Apr
4 3 4 A pr
65 A p r

*90
24 4
384
82
1214
974
183

Jan
J ’ne
D ec
D ee
D ec
N ov
Sep

BANKS AND TRUST COMPANIES—BROKERS’ QUOTATIONS
B anks
NEW YORK
* .etn a .............
A m erica 1| . . .
A m er E x c li..
A s t o r .............
B a ttery P ark
B o w e r y ll___
B a tc h ’ s & Dr
C en tu ry I)___
D lia s e ...........
t lia t lia m ___
bhelsea Kxc^t

B id

A sk

2 0 7 4 220
535
245
750
130
25
320 330
175
6 .2 5
300
195

185

B a n k s.
B id
A sk
C h e m ic a l___ 4100 4200
C itize n s’ Ctrl tl4o
C i t y ............... 2 1.5
270
250
260
C olon ial 1| . . . 700
C olu m bia 1; .. 490
'•25
C o m m e r c e ... tlS2 U H 8 3
C on solidated 165
175
310
315
D iscou n t^ ]. . . 150
160
F a st R iv e r .. 150
160
F i d e l it y '! ----- 200
Fifth A v e r . . 3900 4200




B id
H ankit
F ifth ............. 340
710
14th S tre e t’,I. 225
21o
365
G a r fie ld ........
G erm an Am* 150
G erm an Ex*,i 435
500
G re e n w ic h ‘ i 2S5
H am ilton ‘s .. 260
H a n o v e r ........ 500
Im n & Trait. 550

A sk

Banks
I n te r b o r o U .
J e ffe r s o n H ...

214
375
600
155

......

295
515

L in c o ln ..........
M anhattan^!.
M ark et & F u l
M e c h a n ic s ’ .
M e ch & T r a 1!,
M e r c a n t ile ..
M ercli E x cli.
M e rch a n ts ’ ..
M etrop olis*’ .

B id
150
240
200
500
1500
300
265
245
175
28&
170
160
390

A sk
155
250
210
510
1700
325
275
255
180
300
175
170
.........

Banks
M e t r o p o lis
M tM o r r is ',1..
M u tu a ll]........
Nassaull ___
N e w A m s t« r
N e w Y o r k Co
N Y N at E x.
N ew Y o r k ...
N ig h t & D ay
19 th W a r d V
N o rth A m e r .
N o r t h e r n ___
O rie n ta l!!___

B id
160
240
300
195
200
1200
208
315
350
265
165
270

A sk
170
325
200
210
215
325
500
360
2 /5
175
275

B id
240
450
P e o p le ’ s1|___ 300
Banka

P la z a ll...........
P ro d E x ch D .
Riverside^] ..
S e a b o a r d ___
S e c o n d ..........
S t a t e l]____
34th S t r e e t ..
12th Ward*,].
23d W a r d ll..

; p r iv a te i

560
170
250

A sk
250
170
580
175
280
375

700
b 300
207 4
350
190 ..........
N e w utocfc.
: th is o n c e .

, ...

N e w Y o r k S t o c k R e c o r d — C o n c lu d e d — -P a g e 2

88

S TO C K S — H I G H K S T A N D L O W K S T S A L E F R I C K S
S a tu rn ay
Jan 5

M onday
Jan 7

T u esd a y
Jail 8

iV eanesday
Jan 9

jF rid ay
J a n 11

T h u r sd a y
Jan 10

[Y o L -

R an ge to r F r e c io u i
R a n g e to r Y ea r ly u fi
S a les 0/
STOCKS
Y e a r (1 9 0 5 )
On basis o t 1 0 0 -sh a re Lots:
the
N E W Y O liK STOC K W eek
EXCHANGE
H ig h es t
L ow est
H ig h e s t ! L ow est
S h ares

2,400 102 D ec31 122% Jan 2 2 ! 105 Jan 122% Apr
Twin City Kapid Transit.
100 2 )5 0 Oct a 2150 Oct 3 215334 May 160 J'ne
Do pref..........................
177% 179% r [nion Pacific.................... 559,275 138% May 2 195% Sep 41 113 Jan 151% Deo
1,935 9 1 % May 2 99 *4 Jan 2 95% Nov 101% Fell
U Do prei'..........................
93
93
100 50 A p r 20 98 Jan 18! 21% Jan 92 % Dec
U n ltK y s ln v ’to l SanFran
*60
64
300 55 A p r 20 93% Jan 17 64% Jan 94% Dec
D o pref..........................
*70
70%
_____ 84% Apr 19 87 % Jan 13 80 J’ly 85 Nov
United Kya ot St Eou. prel
18 D ec29 26% Jan 24 17% May 24% Sep
2,700
13
18% 18*4
18% W a b a s h ..............................
18% 18% *18% 19
18% 18%
1 8 ‘4 18%
4,000 36% Dec'29 53% Feb27 37 May 48 Feb
36
383* VV Do pr«f........................
36*8 38
38
3 8 14
33% 38%
38
38%
38^
38
30
D e c24 44% J’ ne 4 27 N ot 30 Dec
400
W
estern
M
aryland—
.
.
.
40
*25
*25
30
30
30
30
30% *25
*25
*3o% 32
5,40. 16 A p r 28 2 134 Feb 6 15 May 1934 .Mar
1434 1534
14
1434 W h e e lin g * Lake E r ie ...
16% 16% *16% 17
16
16 %
17
*ii>
70o 36 May 2 48% Feb 6 36 May 48 Feb
34
37
34
37%
36% 37
373., *37
38
*36
900 21 % Oct 31 29% Feb 6 20 May 28% Mar
Do 2tl pref...................
21
19% 20%
21%
21
*21
23
*22
23
21
23
*21
200 23 May 2 33 Jan 17 20 Apr 33 % Aug
*24% 25 % Wisconsin Central.............
25
25
.* 2 5
26
*25
25%
26
*24% 26
*25
350 44 J ’ly 2. 64 JaD 15 45 Jan 64% Oct
250% 50% *50
52
*50% 53
51% 51*s
00% 51
In d u strial & iHisccII
12 2240 J ’n e l4 5300 A u g 27 J236 Jan i ‘2 50 Feb
a dams E xpress...............
*290 300 ■*290 300
2290 290
*290 300
*290 300 *290 300
3,100 16 J ’ly 3 27% J an 24 13 May 24*4 Dec
16% l« 3 fc 16
16% i x U is-Chalm ers............. ..
16% 16%
16% 16%
16*4 16%
16*8 16%
1,700
40
Sep 22 67 Jan 24 46 % May 68 Feb
4 2 1« 43
43% 43%
43% 43% *42% 44
43% 42%
42», 43
1 8 l4 Feb 13 70 Jan I I I 34 Dec
119% 1 2 1 7fc 119% 1 2 1 % 1 1 8 % 1 2 y % 118% 120% 119% 120% H 734 119% Am algamatedCopper........ 610,750 92% J’ly 13 134%
Jan 27 20 Jan 29 *e Apr
600
20
J’ly
3
25
•Amer
AgricuU
Chemioal.
*25
25%
25
25
25
25% 25%
25% 25%
25
25
90 Dec 12 102 Jan 25 89% Feb 95 Aug
* 873d 102
*87 102
Do
p rel............... ..
*87 102
*87% 102
*87 102
*87 102
20%
M
av
2
35
Jan 6 23 Nov 35 Dec
2*7*00
21%
21%
*213
4
22%
22%
Am
er
B
eet
Sugar...............
22%
22%
23
22%
23%
22% 2 3 14
★
82% Oct lb 8 9 % Jan 8 7 7 Jan 89 Dec
* .......... 85
Do pref..........................
* .......... 85
85
85
* .......... 85
* .......... 85
43% Apr
American Car <fc Eoandry 17*800 32% J’ly 13 47% Jan 24 31 May
4 4 % 45% ” 4 3 % 44
44
44% *44% 44%
44% 44%
4 4 % 44%
600 9 8 % J’ly 13 105 J an 2.4
102% 102% *101% 103
I'm 3. Kwio 1n*2i« 19‘Jio *101% 105
28
May
2
44%
J
an
H
i
2,100
27% P ly 4(T%T5e(J
30% 31% American Cotton Oil........
31% 32
*30% 32
31% 32%
31^4 31%
90 Dec 19 95 JanlO; 89% J’ly 97 Feb
Do pref..........................
91
*88
*88
91
*88
91
91
91
*38
*88** *91*‘ *88
2209%
Jan 246 Feb
2
l
5
A
p
r26
2
7
2
'
Aug30
625
240 240 American E xpress.............
*240 246
•243 246
240% §246 *240 246
240 247
7% May 2 11% Jan 15
4 34 Aug 14 Jan
100
9
9
8%
9
*8
*8%
9
*8%
*S%
*8%
8%
8% Am erican Grass T w in e ..
5
%
N
o
v
2
l
6
J
’ne 1 1 % Dec
10
Jan
26;
*6
6%
*6
Am
er
H
ide
&
Leather___
6%
*6
*
6
*6
6%
6%
6%
*6
6%
**2*00 24 N o v l2 43 Jan 25 2 9 % Oct 5 5 % Mar
*29
30% *28
32
32
*29
32
30
*28
32
32
*29
720 3 0 % J an 2 94% Sep 25 2434 J’ly 36 Bee
86% 8 6 34 Am erican Ice Securities.
85
87% 87%
87%
87
87% 87*4
87
87% 87%
1,120 16a4 Dec 21 29% Jan 22 15% Jan 23 Dec
18
18
19 *4 *17
*17% 18% *15
18%
*16% 18
18
18
200 35 Dec 28 53% Jan 20 36 Jan 48% Apr
*35
40
*35% 38
35
*35
40
*35
9,100 53% May 2 78% Jan 4! 33 Jan 76*4 D ec
73
73% 74%
73% 74%
73 % American j-iocom otive...
73% 73%
74
73*4 74%
74%
108% Dec 27 120% Jan 161 10334 Jan 122% Apr
400
Do pref..........................
*109% 110% *110 110% *110 110% 110 110
110 110
109% 110
5 >4 Nov
4 J ’ne29
6% Apr 6
5 Dec
334
4
*3%
4
*314
4 Amer. Malt. ctfs. of dep...
*314
334
*3%
*3*4
*3i4 .3%
25 Jan 8 29% Apr 5! 2434 Dec 26 Nov
i
'o
’
o
‘3
24
25%
24%
Do
pref.
ctfs.
of
dep..
25
25*4
25
♦25
*24
25
2
4
1
4
25 %
*25
200 25 Sep 15 &43.1 A p rlbl
60 Aug 7 88% A p rl2 !
*50
65
* 50
65
*50
65
Do pref................. * , . . .
*55
65
*50
65
*50
65
" goo 92 *4 Dec 1 101% J a n isi 9*7% ilcp* i o T ' s i y .
93
93
*92% 93% Am er Smelters Sec pref B
93% 93%
93
93
*92
93%
*92
94'**
15134 154% 152 153% 152% 153% 150% 151% Am er. sm elt’ g <& Kelin’ g. 89,000 138% May 2 174 Jan 181 79% Jan 170% Dec
152% 1545s 1 5 3 % 1 5 5
1,200 112 D eo26 130 J3U 121 i ii% T a n - 4t47 L 'es,
Do pref..........................
117% H 7 % 117 117% 116% 116% 116% 117
U 5 % 116%
*116 117
100 2 0 0 J ’ly 6 220 Jan 25! 163 May 250 N ov’
*197% 240
*1971.. 240
*197 % 240 * 197% 240
*197% 240
100 D ealt? 107 Jan 26: 99 Jan 110 Dec
*90 100
*90 100
*98 100
*98 103% *98 103% *90 100
9 34 Nov20
6% J’ly 18% M ar
1,6*00
10%
10%
17!
1034
10%
10%
10%
*10%
10^4
Am
erican
Steel
Foundr’s.
10*4
10%
10% 10%
1,200 40 May 2 53% Jail 171 35% J’ ne 67% A p r
47 % 47%
47
47%
45% 46%
Do pref..........................
46% 46% * 4 6 % 47%
*46% 47%
134% 135% 134% 135% 134 135 Am erican Susar HeUnin^ 16,910 127% May 2 157 Jan 8! 13tf May 154% Dec
135 136% 1 3 4 ‘4 136*4 134 135
Aug
*126 133
*129 133
*134 135
Do pref.......................... r
*130 135 J 131% 131% *129 133
355 1 2 8 % P e c 2 6 140 Jan 19! 133 Slay 141
*13134 135
*132 K35
*132 135
*131 135
Araer. Telepli. & T e le g ...
25 130 J’ly 18 144% Jan 1 9 : 131 Dec 148 % Sa u .
*140 150 i 133 133
9u% 97
9S%
97
97
97
97%
97
97
9734 98
Amer. Tobac. (new ), pref.
2,322 96 J’ly 3 109 Jan 22i 91% Jan 109% DeS
98
3434 3534
34% 34%
34% 35 American W oolen.............
34% 36%
35
35 %
6,000 28 N o v l2 48 Jan 0 20% Jan 47% N ot
*33%
102 102
101% 10124
Do pref..........................
1.450 101 J ’ly 13 110% Jan 241 9 ? Jan 108*r?±*f'
102 % 102% 102 102 it *101 101% 102 102
223% May 4 3 0 0 P6bl3| 100% STa? m
Dec
2S5
288
282
281
284%
286%
285
286%
Anaconda
Copper...............
283%
286%
289%
83,800
287
111 i l l
*110 120
*110 120
*109 118
3Jrooklyn Union Gas___
*109 118 *109 118
100 105*aNov26 178 Jan 23 175 Dec *215 Feb
*14% 16
1 3 % J ’ly 9 21 34 A p r i l! 10% Jan 22 % Dec
*14% 16
*14% 16
*14% 16
JL>runsw. D ock& C .Im p’ t
*14ia 15%
40 Apr 16 70 May 9! 50 Dec 60% Jan
52% B uttenck Co........................
52% *50
52% *50
52% *50
52 % * 4 sT* *52*" *49
*49
3 5 34 36 *o
35
3534 ( lentral L e a th e r.............
36% 37%
36% 37%
35% 36%
3 6 'j
6*30*0 3334 Dec 24 49% Jan 24 40 Sep 47% Oct
30
9334
Dec 24 107% Jan 2 4 ! 102% N ov 105% Nov
100%
101
101
101
100%
10
i
101
101%
Vv1
Do
jiref........................
106%
101
101
2,850
100%
5 4 34 55s4 Colorado Fuel <fc Iron___ 82,300 4 0 % May 2 83% Jan 26 38 May 59 Mar
55
57%
5(!
5 6 34
55
57%
55% 563j
54=8 55%
85 J’ne29 112% Jan 29 80 Aug 105 Mar
*85
95
95
*85
90
Do pref..........................
99*2 *81
*81% 95
99% *81
*81
2 6% 27 Col. & H ock. Coal & Iron.
27% 27%
27% 28
27% 27%
27
27%
2*600 17 May 2 30*4 Nov26! 1 1 34 May 20 Doc
27% 27%
138% 138% * 1 3 3 % 1 4 0
133% 133% 137% 138 Consolidated Gas (N . Y .).
2,200 130% A p r 27 18134 j an 23| 175 N o t 214
138% 1 3 8 *4 138% 139
23 >0 *233,
2 2 ^ 23
123
53 3a
22% 231.
2 3 % 544^
23 a4 24%
20,865 18% J’ly 13 28 A p r 4
........V -----85
86
85
86%
84% 84%
85
Do pref..........................
84% 84%
85%
4,820 74% May 2 8534 Apr 2|
86
86
72% 73*4
71% 72% Distillers Securit’s Corp.
73
72% 73%
9.450 5 L Jan 30 74% Sep 2o *3 4 % Jan
73% 74% *7 2 34 73*«
DwT
*
*
8
1
3
4
Jan
3
80 * . . . . . 80 *
80
80
80
Electric
Storage
Battery.
87% Jan 19 76 M a r '89% F eb
80
*i*6*o* 170 * i* 6 0 " 170 -1*60** 170
*1*60** 170 Federal M ining & Sm elt’g
170
138 Jan 4 199 Jan 22 (ii> Jr > 145 N ov
* i e o " 167
95 % 95%
08
96
97%
96
96
*96
96%
Do pref..........................
*60*0 91 J ’ly 3 112% Jan 22 75
~/Cu
lRowieoT., 159 1-30% 159% 160
158% 158% 157 158% 155% 158
7,550 £156 Deo 19 184 Oct 9
192 Mar
18
17% 17% I nternational Paper
18% 18%
18
18
2,700 16% Sep l i 26% Jan 15}
18% 18%
18*4 *17% 18
25*4 D e o ;
80%
81
80%
80%
80%
80
%
§81
*80%
80%
i
Do
pref........................
81
80 m 81
870 80 Dec 17 90 Jan 1 -v - ^ 0 % Feb
* 5034 59
* 5 0 34 59
48 Sep 14 * 9 5 Jan
*50% 59
*50% 59 ' *5034 59
International Power........
* 60a4 59
48 Oct lflU F 5 5 '
40
*39% 40 Internal Steam Pum p___
40
41
42
*39
*39
40
*38
**900 28 Jan 15 60 M
40%
40
26 Dec 40% Feb
*80% 81
79 Jan 11 92
82
*80
81
*80
*81
81
*80
81
81
*80
p
^.xayi-4 78 % May 88% Apr
*64
68
*64
68
65
SCnicker Docker Ice( Chic;
65
68
300 54% J ’ly 6
*64
68
65 4, 65% *64
De«
813„
82% 83% \Tatlonal Biscuit............. 22,250 62 May 2 j S q Sep 27 10 Jan 63
82% 84
Slid 82%
81
82%
81% 83
69% Deo
.> T 9 % D e c 17 52 Aug 1 2 0 34 Mar
*110 118
116% 116 *4 116% 1 163c *116 118
11 Do pref..........................
*116 118
200 113% Jan
110
Aug
*
1
8
%
Oct
8
*"IJ q xj5Io
Hi _iL 4 .^J5
N at Enam eiing& Stam p’ p
14% 1 4^
700 12 Mr
15>4
16 4 J
18% Jan 15 11 Aug 31% Apr
ux~i~-„
*82
57
*82
87
*t52~' S7
87
87
*83
8 8 % Mar 8 80 Aug 94 Apr
74 .U 74%
73
75
74% 75
76%
75%
4,850 l i
74%
i- 75
95% Jan 19 24% Jan 89% Dec
102% 102%
800
♦10234 103%
1 0 2 % 102% 1<»3 103
103 103
106% Jan 22 97% Jan
Dec
137% 137% N ew York A ir B rake........
*137 139
2,901' ACSS J’ly 12 16334 Jan 5 140 May 115%
138ia 138=4 139 141% a; 139% 140% ‘ 137 139
1«8% N **r
North Am erican Co., new
2,0 .
87% 88
*88
90
88% 89
87% 88% *8734 90
89
89
8 7 % N o v l2 107 Jan 12 95% N ot 107 ft.pr
39%
37%
lja
c
iilc
M
ail........................
41%
38%
39
39%
39
39
38%
I 403* ■41%
39*3
2834 J ’ne29 51% Jan 19 33 May S234 D e0
95% 96% jL eop. Gas-L.<& 0 . (Chic.)
96% 97%
96% 9 8 14
96
96%
98*<
96*4 97
98
A h 50 88 J ’ly 13 103 Jan 2 97% May 115% A pe,
16% 16% *16% 1634 Pittsburgh Coal Co...........
17
*16
17
17
*16% 17%
*16
13% May i 18% Nov23 12% J ’ly 21 May
5u<
Do
pref......................
57% 58
58% 58%
60
- s i --'*53— 61- --*58
• 5 § .^ - & b 50( 50 J ’ly 3 62 % J an 19 45% J ’ly 80% May
54% 55% Pressed Steel Car......... [S /
57
55
54
55%
54% 55
'"1>4% 55%
55^4 55%
64% Jan 24 33% Jan 6 8 a4 Deo
43 May
11,000
Do
pref...............
S
y
298%
99%
♦99
99%
499%
99%
*983
4
99%
99*4 99%
105 Feb 1 87 Feb 101 % Oct
*98*4 99%
525 95 May
/ 178% 179% Pnllman Companyy
1 81% 181% 180% 180% *180 182
2
70
N o t 9 230 May 258 AugJ
1801a 180% 180% 181
180
Dec
5
1,747
r>ailw ay Steel
—
64% 55
54% 57%
5 5 14
35
54% 54%
54% 5414
64% 56*4
8,500 44 May 2 6234 Jan 15 30 May 63 % Dec
t i /D o pref.
s
■
99
S9
trk v r ~na u
99
99
98%
9734 J 'ly l3 107 Jan 24 93 Jan 106 N o t
98*a 98% *98% 100
700
38% 39%
39% 40%
3934 40 ■*
40% 41
11 15 Jan 36% Dec.
4 8 ?
40% 40%
12,55( 22% May ^ 4134
99% 100
98% 99
9 9 % 99%
99% 100
a y 9934
98% 99
6,690 91 May 2 110% Jan 9 67 Jan 108 Dec
74% 74%
75% 77
*74
76
76% 7734
*76*4 77
76% 77
i*7%
Jan
12
68ia
J’l
y
13
60 Jan 118% Feb
^
iron
4,100
*102 108
*102 108 2107 107
108
*102 108
*102
*1021! 108
43 101>, Oct 18 113 Apr 3 100 Jan 130 Feb
*153 l e i ^ *158 161
161 % 161 %
129 Jan 2 *11)6 Nov30 68 Jan 148 Deo
i
^
^
^
v
r
r
o
n
&
.
r r ...
300
87
83
*8*6""
83 -4 ^ 0 ..
*82
86
*82
86
100 60 May 2 83 Oct 23 37% Jan 66 Dec
Jjand.Trusi
“
7 T a 1 1
£ \
5 % Sep 7 15% Jan 19
8 % J’ne 15% Oot
*1 >»ag & Paper........
10(
62
-6 0
61
GI*-1
J ^ 'a J o .-'p re l...................
m s ■GO
82% Dec
300 52 Oct 15
48% ” 48% 49%
49
483
49 ^ *49 * 49*4
a4 49%
7*& H V?- SyCast I. Pipe & Foun
7,000 43% May 2 53 Jan 17 19% Jan 48*4 Deo
88*j
87% 88%
87% 87% * 8 1 ?
87% b8% *88
8?^
4 ) 0 pref..........................
Jan 24 79% Jan 97 % Apr
1,730 83>* Dec2tj
*114 120
115 {1 1 7 *Jjl2 120
*112 120
*112 120
Tydited States E x p r e s s ...
230 109 May 1 138% Jan 26 {1 1 0 Dec 134 Feb
89
88
84
84%
85
S jy ' •' *84
t *85
91
86
1.001 75 A u g l8 94% Jan 20 77 Jan 98% Mar
f0 S Realty & Im prove’ m
30
*26
29/
27%
f *26
30
29% 29% *27
301. 24 Mar 1 40% j>u e 5 18 Feb 40 % Apr
U S Keduction * Ketln’?
*65
69
1 *65
70 - 67% 68
* 6 3 / 63
Do
prei........................
, 200 60 Mar22 84 j 'n e 6 35 J ax 7 3 14 Aug
J y i 3 £ ^&i;
l%
-‘s i ,
4,100 38 J’ly 13 59% Q o t 2 3334 Jan 5 8% Sep
,v<n% 51%
U nited States K u b b e r ....
98% Jan 118 % Apr
r i o 8 % 109*4 J 109 AO iL.'
^ xa07
0 7 % 108
2,120 *10491 J’ly 13 * 1 1 5 J a n l5
Do 1st pref...................
*78
73% *78% 79% * 7 8 / tfT%
220 75 May 2 * 8 7 % Jan 15 75 N or 83% Deo
f 77%
77*4 7I&.
7124 . 7 3 %
Do
2d p r e f.................
79%
48% >re% ' 49% 49%
49*
49% - tMl
iT
1 49»a'
49 3v t
United States Steel______ 430,355 32% J’ly 13 5 0 14 Oct 12 24% May 43*4 Dec
^49
i?n06'»jl(yf%
105=8
105% IU6%
lUtfig 10&% 1U?3,1 106^ -107% 10634
106%
Do pref.......................... 68,525 98 34 J’ly 3 113% Jan 20 90% May 107 Dea
37% 38
'39%
*37% W
3? % /3 8 y 3 7 ' 37
2,500 31 J ’ly 3 58 Jan 2 2834 Sep 58% D ee37
-39 ,^ J 8
3
7 % ■39
,
Virginia-Carolina C hem ..
*106 108
*106 A f l f t / 107% 108
300 104 J ’ly 3 117% Jan 2 103% May 118% Deo
108
•10$ 108,
1 0 8 / *106 108
Do pref..........................
85%
83% 85
/a"'82
"'8 2
4,145 38 May 2 93 Deo 5 36 J’ne 5 2 % Feb
84
84 *o 4%
M h
284% 84% Virginia Iron Coal & C ..
*285 305
* 2 8 V * 305
233 Mar23 305 Oct 26 2226% Dec 260 Peb
*285 305
*275 300
*285^ 305
\ \ i ells Fargo & Co........
§34% 84%
85
84
’ *73!; ®83% Dec 24 94% Jan 26 92 Jan 95% J’ne 1
S& ZU 85
83% S4U »T est’n Union Tele’ gpl
84
150 150
151 148 Aug30 176 Jan 5 152 May 184 Apr
*146 157-- p l 4 8 ,./-lr58y
150
*146 157
*147 157
W est’ gh’ se E l& M fgflasseu
*167 1S5. * 1 6 7 ' 1 8 c / >167 185
20t 162 N ovlb J188 Jan 22 187% Dec 197 A pi
*167 185
*107 185
*167 185
Do 1st pref...... ............
107

107

181% 183
93% 93%

107% 108%

108

180% 182%
93% 94
6-2
62
7 l%
71

178*4 180%
93% 93%
62
*70
71%

108

108

103 >4 107

178% 160%
93
93*4
62
*60
71
*70

107

106% 107

179% 180 %
93*4 93*4
*60
62
71
71

ar

Igkr

&

—------- : - i

Z '
B anks
U nion Exchi]
U SE xch a’eli
W a sh .H ’htsTW e st S id e }..
YorkTllleTj..

B id
240
115
225
600
400

Banks

A sk
260
130

BROOKLYN

145

First...............
H om e Bankli
Manufactrs’ .
Mechanics!] N a ssa u ..........
N at C ity........
N orth SideD.
ProspectPkT;
Term in al___
U nionl]..........

B R O O K LY N

B oroughl).... 160
Broadw ay^.. 415
Brooklyn^ . . 135

BANKS^AlTD TRUST COMPANIES—BROKERS’ QUOTATIONS
M id

390
160
400
300
250
290
390
1 50
140
225

AsIc

......
310
165
230

Trust Cos.
N. Y. CITY
Bankers’ T r.
Bowl’ gGroen
Broad wayTr.
C arnegie. . .
Central T r’st
Colonial........
C o lu m b ia ....
C om m ercial.
Commonw’ th
E m p ire..........
Equitable Tr
Farm Lo & Tr

R id

A sk

Trust Co’s

Fifth A v e Tr
560 580
Fu lton^.........
440
Guaranty Tr
450
Guardian Tr
158 162
t200
•H u dson ........
2025 2100 Knick ’rb’k’ r
385 390
Law T I & Tr
Lincoln T r ...
235
M anhattan..
20C
• M e rca n tile ..
85
M e tr o p o lita n
310 320
MortouTrust
425 450
1320 134T0 M u tu a l_____

R id

310

......

225

___

A sk
555
330
520
235
105

.....

1200
275
285
395%
470 490
850
572%
700
130

.....

Trust Co’s
M ut.Alliance
N Y Life& Tr
N ow York Tr
StandardTr’t
T itleG u & Tr
Tr Co of A m .
Union Trust
U S M tg & T r
U nit States .
V an N ’denTr
W ashington.
W indsor........

R id

A sk

Trust Co’s, R id

B R O O K LY N
210 220
1000 ...... Brooklyn Tr 440

726
400
565
755
1325
480
1275
305
400

210

425
575
765
1350
500

......

315

.....

225

Citizens’ ........
F la tb o s h . . . .
F r a n k lin ___
H a m ilto n ....
H om e_______
J e n k in s ........
Kings C o ___

150
270
320

33a

A ik
46 0
160
330
350
175

200
450

L XbI L & Tr. 316

N assa u . . . . . . 270
People’s ........ 325
W iuiamgb’ e. 220

350

___ 1

a Ex-dividend and rights.
t Bid and asked prices; no sales on this day. 2 Less than 100 shares. 4 Ex-rights, b N ow stock,
•Sale at Stock Kxcliange or at auction this week 0 E x stock dividend. /s TruBt Co. certificates. *,| Banks marked with a paragraph (E) are 8 U te banks.




,

New York Stock Exchange—Bond Record, Friday, Weekly and Yearly
O C C U P Y IN G
BONDS
N . Y . STOC K E X C H A N G E
w k k s E jra m o j a x 11
LI. S . ( * o v e r n m e n l
V S 2s con su l r e g is t e r e d .d l9 3 0
U S 2s c o n s o l c o u p o n . .. . d l 9 3 0
U B 3s r e g is t e r e d _______ &191S
U S 3 s c o u p o n __ . ________fcl918
U S 3s r e g sm all b o n d s ..fc l9 1 8
U S 3s c o u s m all b o n d s..fc lO lS
U S 4 s r e g i s t e r e d .______ A1907
U S 4 s oouD on . . . . . . . . . . . . W 9 0 7
U S 4s r e g iste r e d ......... .. .. 1 9 2 5
U S 4s c o u p o n ____________ 1925
U S P a n C a n 10-30 y r 2 s .fc l9 3 6
P h tlin p in e is la n d s 4 s . 1914-34
P u b w k s an d im p r e g 4 s 1935
P u b w fcs a n d im p r e g . . . 1936
F o r e ig n G o v e rn m e n t
J a p a n ese G o v t 6 s a terl’ g .1 9 1 1
2 d series 6s ........................ 1911
£ loan 4*28 c tls fn llp d .1 9 2 5
2d series 4 4 s c t ls lu ll paid.
£ loa n 4s c t f s f o l l p a i d . . 1931
B e p u b o l C u ba 5s e x te n d e b t ..
U 8 o f M e x ic o 8 f g 5s o f 1899
•Gold 4 s o f 1 9 0 4 ................. 1954
S t a t e S e c u r i t ie s
A la b a m a c u r r fn n d 4 s ___ 1920
D is t o f C olu m b ia 3 '6 5 s ___ 1924
L o u is ia n a n e w c o n s o l 4 s . .1914
N o rth C a rolin a c o n so l 4 s . 1910
6s ............................................ 1919
S o C a rolin a 4 4 s 20 -4 0 ........1933
T e n n n ew se ttle m e n t 3 s . .1913
S m a ll..............................................
V ir g in ia fu n d d e b t 2 -3 «...1 9 9 1
6a d e fe rre d B r o w n B ro s ctls .

P r ic e
F r id a v
J a n 11

R an ge
year
1 90 6

W eek's
R an ge or
L a st Sale

Bid.
A s k Low
H igh
10434 1051* 104 N o v ’ 06
104*4 1 0 5 4 105*4 D e c ’ 06
Q -i 102 102*2 103*2 A u g ’06
Q-F 103 *8 Sale 103*8 1 0 3 4
107 J ’ n e ’ 02
Q -F
Q-E i ’0 2 ‘4 " I I . 104 *2 O ct ’ 05
Q-J 100*4 101 *4 1007tt 1 0 0 7e
Q -J i o o 34 1 0 1 4 10078 1 0 0 7f
129 130 >2 1 3 0 t8 X o t ’ 06
129*3 1 3 0 4 129 >3 129*9
105 4 O ct ’ 06
Q-N 104 105
111 M ay’ 06
w-F 1 0 9 4 ___
Q -S
Q -E

II
n

A -0
A -O
F-A
J -J
J -J
M -8
Q-J
J -D
*7

9734
98*2
t 98*8 Sala
98*2
t 9 8 4 Sale
9 7=*
93*8
t 93 Sale
92*4
903g
92"
* 90*s,Salo
i 83 78 Sale
82*3
844
*101*4 102
101=8 102
i 98 Salo
97*3
98
93=8
93*3
9 3 5a Sale
hese a r e p r ices 0 n the 6

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

111 M a r’ 02
115
117*3 J ’ n e ’06
105*2 D e c ’ 04
"9 9 '" .'.'.
101 J ’l y ’ 06
126 . . .
122 J ’ n e ’ 06
120 M a r’ 00
" I I " **9*74 9634 A u g ’06
95*3 D e c ’ 04
H il l ! * 9 5 4 9534 J a n ’ 07
22 D e c ’06
.......... 22

Q-J
A-O
A-O
J-D

90 4 Sale
1013* s a le

15

12

399
331
267
59
4
20
a~sis

R a il r o a d
a C en t See So R y
A labam
la b a M id i See A t C oast L in e
A lb a n y & Susa See D el & H ud
A lle g h e n y V a lle y .See Pen n RH
A lle g & W e s t See Butt R & P
A n n A r b o r 1 st g 4 s ..........7il995
A tc li X«fc S Fe—G en g 4 s . 1995
R e g is te r e d .......................... 1995
C o n v g 4 s ............................1955
"W arrants fo r 50-yx c o n v 4 s ..
A d ju stm e n t g 4 a ............ft.1995
R e g is t e r e d ................... 7il995
S tam p ed ........................ M 9 9 5
D e b e n tu r e s 4s S eries E .1 9 0 7
S e r ie s E . . . . . . ................ 1908
S eries G ........................... 1909
S e r ie s H ...... ....................1910
S eries 1 ............................ 1911
S eries K ........................... 1913
E a s t O kla D iv 1st g 4 s . . 1928
A t l K n o x & N Sec L & X
A t la n t ic C oast 1st g 4s.ft.1952
C h arles & S a v 1st g 7 s .,1 9 3 s
S a v E & W 1st g old 6 s .. 1934
1st gold 5 s .......................1934
A la M id 1st g u g o ld 5s ..1 9 2 8
B r u n s & W l s t g u g 4 s ..1 9 3 8
L & N c o ll g 48 ............... 01952
S il S p O ca <fc G g n g 4 s ..1 9 1 8
A t la n t ic & D a n v See S ou th Ry
A u s tin & N W See S ou P a cific
a lt <&O hio p r io r l g 3 4 s . 1925
R e g is te r e d ................. M 9 2 5
G old 4 s ..............................>1,1948
R e g is t e r e d ......... ........ A1948
P J u n <fc M D i v l s t g 3 4 s l 9 2 5
P L E & W V a S ys re f 4 s l9 4 1
S o u th w D iv 1st g 3 *28...1 9 2 5
R e g is t e r e d ................... /tl9 2 5
M on on R iv 1st g u g 6 s . . 1919
C en O h io R 1st o g 4 *2 8 ..1 9 3 0
P it t s C le v & T o l 1 st g 6s 1922
P itts & W e s t 1 s t g 4 s . . .1917
B a t C reek <fe S See M id i C ent
B e e ch C reek See N Y C & H
B e lle v <& Car See Illin o is Cent
B k ly n & M on ta u k See L o n g 1
B r u n s & W est See A t l C oast L
B u ffa lo N Y & E r ie See E rie
B u ffa lo R & P gen g 5 s . . .1 9 3 7
A l l <fc W e s t 1 s t g 4s g u ..l 9 9 S
01 &> M ali 1st g u g 5 s . ...1 9 4 3
B o o h & P itts 1 st g 6 s ...1 9 2 1
C on sol 1st g 6s ............. 1922
B u ffalo <fc S o u th w e st See Erie
Butt & Susq 1st r e f g 4 s.iil9 5 1
B u r C 11 & N See G R I & P
Canada S ou th 1st 5 s ........1908
J2d 5 s ................................... 1913
R e g i s t e r e d .. . .. ............. 1913
Carb & S h a w n See 111 C ent
C arolina C en t See S eab A i r L
C artilage & A d See N Y C & H
C ed R Ia E & N SeeB C R & N
Den B ra n ch U P l s t g 4 s . . . l 9 4 8
Den B ra n ch R y See M o P a c
Dent o f G a K R 1st g 6 s ..jj1 9 4 5
C on sol g old 5 s ............... ..1 9 4 5
R e g is te r e d ...................... 1945
1 st p ref in com e g 6 s ___ j>1945
2d p r e f in com e g 5 s ___ p l9 4 5
3d p r e f in com e g 5 s ___ p l9 4 5
C liatt D iv p u r m on g 4 s .1951
M a c <fc N o r D iv 1st g 5 s .1946
M id G a & A t l D iv o s ----- 1947
M o b ile D iv 1st g 5 s ........1946

B

(

N ot
N ot
M-N
F -A
F-A
F-A
F -A
F-A
F-A
M-S
M-S
J -J
A -0
A -0
M-N
J -J
M-N
J -J
J -J
Q -J
A -O
Q -J
M-N
M-N
J -J

li

M-S
A-O
J -J

M-S
A-O
J -J
F-A
J-D

100

........

106

Sale

92 Hi Sale
*92*4 Sale"
101
9 9 3<
9 73 4.........
97*8
96 ........ .
94 ........ .
*95*4

.... .
....
.....
.....

9 8 34 Sale

J-D

9S34

129 _____ 132 78 J a n ’06
114 ......... 112*8 J a n ’ 04
110 *4......... 114=8 N o v ’05
92*4
99 *2 M a r’ 06
89*4 Sale
89*4
89*2
9 6 34 D e o ’ 06
944

.... .
....

93

Sale

102
101

Sale

... .

95 Sale
9 o *4 Salo
87= 8........
105 4 ........
1 0 0 4 ........

92
93
95 J ’ n e ’ 06
1 0 1 78 102*4
101
101*4
89*8 D e c ’06
95
95
90
90 *<
89 O ct ’ 06
108*2J’ l y ’ 05
109 A p r ’ 05
119*3 M ar'04
96 O ct ’ 06

117*31 1 8 s* 118*8 N o v ’ 06
......... 101 *3 A u g ’ 06
103 A p r ’ 97
1213* 125
124 A p r ’ 00
121 ....... 12578 N o y ’ 06

102

98

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

90*8
904
101*4 1 0 1 7b 101
101
101
5
105*3 108*4 1242
10434 O ct ’ 06
92*3
92*95 Sep ’ 05
92*4
92 7S
99 5s M ay’ 05
99*4 O ct ’ Ob
100*3 J a n ’ 06
97 D e c ’ 06
98*3 N o v ’ 04
94 JfovOO
9 5 34 A u g ’ 06
98

N o v ’ 06

100*4
100*4 Salo 100
1 0 4 4 106 104*3 105*-.
103 *4.......... 103 N o v ’06

914

93

95

N o v ’ 06

F-A 118 ......... 118*4 D e c ’ 06
M-N 110 ......... 109*3 110*4
113 A p r ’06
M-N .......... 90
1 D e o ’06
O ct * .......... 90
’ D e c ’ 06
O ct *.......... 7 7 4
i Jan ’ 07
Oct * ......... 65
I J ’ n e ’06
J-D
91 .........
J-J
1 0 7 4 ......... 115*2 D e c ’ 05
J-J
10 7 *4 ......... 115 Nov*05
J-J
10 9 *2 ......... 115*3 A u g ’ 05

A-O
J -J
J -J

M-N
F-A
F-A
F-A
E-A
J -J
J -J
J -J

105 106
9138 Sale
102*3 104
101*3
i*0*8~ Sale
37
"82*4
101*4
101*2

A -O
J -J

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

90
92
8 1 4 Sal*1
80=6

M-S

*N o price Friday; latest price this week.




91
85 4

**96**

d Due A pr

BONDS
N. Y. STOCK E X C H A N G E
W e e k E xdfno J ajt 11

P r ic e
F r id a y
J a n 11
M-N
J -J
Q-J
J -J
J -J
M-N
Q-M
M-S

W eek's
R a n g e or
L a st Sale

B id
A s/c L ow
106*2 Sale 106*3
..........126
125
124 1 2 5 34 124*3
112*2 1133s- 110*3
104 ........
9934
100 Sale
99*2 100
100

R a n tie
Y ea r
1906

H ig h
106 S
125*2
124*2
110*2

L ow
106
12534
125*2
111*4

100

100 102*2
>34 102 *«

100

H ig h
106*3
132 '
131*2
113

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

10234 105
103 D e c ’ 06
105*2 106*4 105 N o v ’06
115*2 11638 115=8 1^6
116 J ’n e ’06
104*4 S ale 104*4 105*4
104 M ay’06
1 0 2 * 3 .. .. . . 112 E e b ’ OO
100 **j
99 *2......... 100
97 *3 D e c ’ 06
92*2
107 ......... 113U F e b ’ 05
* 9 3 * 2 ......... 99 34 F e b ’ 06
*79 ......... 7934 D e c ’ 06
76=8
75*4 7634 75<v
80 *« M ay’05
i'oo” IIIIII lOOio J a n ’ 07
9l3 4
92*.
913* Sale
90 .......... 90 S ep ’ 06
102
10 i3 4 s a le 1013.
110i4 J a n ’ 05
I 0 0 s„ D e c ’ 06
101 .
102 N o v ’ 06
101=8 .
101 *4 D e c ’06
LOO J ’l y ’ 06

9*934 i 0 2 ^
102 107
101*4 104*4
98 100 ‘

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

...........102*2
109 ..........
......... 92
101*3 Sale
131 .........
117 *2 Sale

103 Jan ’ 07
107*4 N o v ’06
92 (je t ’ 06
101*2 101*2
132 O ct ’ 06
117*2 117 *2
118*2 F e b ’ oti
116 J ’l y ’ 06

102 *2 107
10734 112*4
92
9 634
I 0 0 7s 1043s
129*2 139
116*2120
118*2118*2
114*2 1 1 8 7b

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

126 .........
......... 114*2
101*3........
104*3 106*4
106 .........
..........108
90*2 Sale
1 0 8 34 .........
110*4 112*2
1 0 2 * 2 ..........
110 11034
1 0 4 78 .........
1 2 0 -4 . . .
106=8 108
9 9 34

126 J a n ’ 07
II l 7s J an ’ 07
105 s Sep ’06
104*2 Jan ’0
106*2 106*3
104 *2 O c t ’ 06
90*2
91
115-4 O ct-’ 05
112*3 112*2
108 A p r ’06
110*2 1 1 0 78
110 J ’n e ’ 06
137*3 J ’ l y ’ 99
110 O c t ’ 06
106 A u g ’ 04
1 8 2 *2 A p r ’06
I I I .Nov’ 06
106=8 A p r ’ 05
104
104
103*p D e c ’ 06
112 O c t ’ 06
105 D e c ’ 06
115 E e b ’ 06
12 L N o v ’ 06
102
102
101 J ’ l y ’ 06
97 D e c ’ 06
96 N o v ’ 06
_
O ct ’06
111
1
_ 1 4 *3 E e b ’ 06
106j4 N o v ’06
107 *2 J ’ n e ’ 06
L01*2 J a n ’ 07
101 Sep ’ 06
107 J a n ’ 07
108*4 J a n '04
114
114
117 F e b ’06

128 137
113*2 114*2
105 *2 108 *«
106 108*a
105*2 111
104*2 104*2
91*2 97

u

E-A
M-N
Q-E
A -O
A-O
A-O
A-O
M-N
M-N
A-O
A -0
M-N
M-N
F-A
M-S
M-S
M-N
M-N
F-A
M-S
J -J
F-A
M-N
J -J
J -J
J -J
J -J
A-O
M-N
M-N
M-N
M-N
M-N
M-N
M-N
M N
M-S
J-D
A -0
A -0
A-O
J-D
J -J
M-N
A-O

10134 106*4
105 110*2
116 119*3
114*4 116*3
103*3109
104 lOp
112 112
100 1 0 3 4
95
96*4

.....

111 34

.....

....

1 0734 ..........
IOO^b . ....
104 Sale
10 2 3 s .........
10 734 .........
120=8 122*2

101
10 L

.......

.

96*3 98*2
.......... 96*2
1 0 6 *1 .........
ib i= 8 i;m i
i"o6*-j m m
1 13*3 m m

101
102

....

...

1 2 1 - 2 ...........
1 1 6 34 . .

125*2 . .
123
98 .........
1 1 5 = 8 ......
1 13 *4 .........
100*4 Sale
tf 1*3 Sale"

9 4 * 4 .........
92
8 9 * 3 .........
8 8 34 .........
83 .........

....

88*3...........

76*4 Sale
90

Sale

il734 "III.
io f" m i"

9934 9 9 a4
78*3 82*2
76*3 82
99*4 i02=s
91
95*4
90
90
101 106*4

112 "

il8*4

107*2 108*3
110 115
107*2 110*?

iio " i’1 3 ”
182 *2 182*2
111 113*2
104*2 108*4
103*8 106*4
112 115*4
105 10S34 '
115 115
119*2 126
10134 105*2
101 102
95 100*2
96'
96
111 113
114*3 114*2
106*4 109*4
107*2 107*i
101
1047h
101 101
105 *2 112*4
113
117

105*4 D e c ’ 06
101*8 Sep ’ 06
102 *3 D e c ’06
122*3 D e c ’ 06
116 *2 O ct ’ 06
142*3 F e b ’ 02
128*2 F e b ’06
101 O ct ’ 06
109 Sep ’ 03
11834 D e c ’06
118=8 N o v ’06
97*8 100\,
10034 S ep ’ 06
91*«
y l ’4
97 J ’ l y ’ 04
92 *2 N o v ’ 06
96 N o v ’ 05
93 M ay’ 04
89 *3 M ay’06
90 M ay’ 04
76*3
77
79 D e c ’ 06
90
91
102 *8 M ay’ 06
117
117
120*2 M a r’03
111 N o v ’ 05

117
117

101*(,101 *«
101*4 102*2
122*3 126*3
114=8118 ‘
128 *2 i.28*i
101 101 ‘
il7 * 8
117*2
99
99
91*2

120=8
119*3
103*4
102
97

92*3 92*3
89*2 89*3
7 5 ‘4 * 8 1 *i
88*4 " 93**4
100*4 102*8
116*4 119*4

102

........ 109 N o v ’ 06'
111 M ay’ 06
107*3 110
....... 110*2 105 3g N o v ’ 06

105 106=8
111 111
105 7s 111*8

103 108*4
85
110
112
U 34H 4
1134 1154
88*,
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1074117
92
83
110 116*4
113 1 1 9 4
112 1 1 6 4
90
95 4
1154119
9 3 4 93 4
109 109
10741074
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103*4 1 0 3 4
11041104
92
98*4
»
90
71
82
884

B O N O S — C o n tin u e d on N e x t l’ a e e .

111 100*4 109
105
105
91*8
92 320; 92 100
105 107
105 O ct ’ 06
100 104
100 O ct ’ 06
37! 1 0 5 4 1 1 3 * 4
107
108
111) 110
110 F e b ’ 96
88
95
90*3 D e o ’ 06
89
96*4
89 D e c ’ 06
85
85
84*4 8 9 4
102 10 3 *4
103*4 N o v ’ 06
100*8104
104 D e c ’ 06
95 J ’n e ’ OO
93*4 9 0 4
93*4 O c t ’ 06
9 1*4 9 5 *4
92
92
814
82
7 9 4 90 >4
79
84
79*4 Sep ’ 06
109 M ar’ 98
98 M ay’ 06
*9*8** 1*004

aD u eJ a n

PAGES

Low H ig h
103*a 105 *-2 Oen R R & B o f G a c o l g 5s 1937
103 105*. C en t o f N J g e n ’ l g o ld o s .1 9 8 7
1 0 2 34 1 0 3 78
R e g is t e r e d ...................fi.1987
102 10434
A m D o ck & Im p g u 5 s . .1921
L e & H u d R ge n g u g 5 s 1920
L eh * W ilk s B C oal 5 s .. 1912
10034 103s4
C011 e x t g u a r 4*33___ firl910
10178 1 0 4 7s
N Y & L o n g B r g e n g 4s 1941
129 131*2 C en t P a cific See So P a cific Co
12938 132*4 Clias <fc S a v See A t l Coast. L in e
105*8 105*8 C lies & O h io g 6a s e r A ..ft i 9 0 S
10834 111
G o ld 6 s ................................«1911
1 s t c o n s o l g 5 s ...................1939
R e g is t e r e d ...................... 1939
G e n e ra l gold 4*38............. 1992
R e g is t e r e d ...................... 1992
C ra ig V a lle y 1st g 5 s ___ 1940
96*3101*2
R & A D iv 1st co n g 4 s . .1 9 8 9
96*4 101*4
90*2 95*8
2d c o n s o l g 4 s .................1989
89*3 93=8
W arm S pr V a l 1st g 58. .1941
82
88
G re e n b r ie r R y l s t g u g 4s ’ 40
101*2 108
C h ic & A lt R R re f g 3 s . ..1 9 4 9
97^101*2
R a ilw a y 1 s t lien 3 * 2 8 ...1 9 5 0
923a 96
R e g is t e r e d ...................... 1950
0/ $5 to a .
C h ic B u rl & Q— D env D 4s 1922
I llin o is D iv 3*2S............... 1949
R e g is t e r e d ...................... 1949
117*2118
G old 4 s ........................... .1949
I o w a D iv s in k fu n d 5 s'.. 1919
101 101
S in k in g fu n d 4 s............. 1919
122 122
N e b r a s k a E x te n sio n 4 s .1927
R e g is t e r e d ...................... 1927
95*4 9 6 34
South w estern D iv 4 s ___ 1921
J o in t b on d s See G rea t N orth
94>a 9 6 34
D e b e n tu r e 5 s .....................1913
20
29 >2
H an cfc S t J o s co n s o l 6s . .1911
C h ic & E 111 re t & im p g 4s 1950
1 st s f c u r 6a.....................1907
1st co n s o l g 6 s................... 1934
G en eral c o n s o l 1st 5 s ___ 1937
R e g is te r e d ...................... 1937
C h ic & I n d C R y 1st 5 s .1936
C h ica g o >& E r ie See E rie
90
99
C h ic In & L o u is v r e f 6 s ...1 9 4 7
100 104*2
R e fu n d in g g o ld 5 s ............1947
99*2 103*2
L o u is v N A cfc Ch 1st 6 a .1910
100*4 110*4 C h ic M il & St P t e r m g S s 1914
10038 108*4
G e n e ra l g 4s se rie s A . . e l 9 8 9
91
9 7 34
R e g is te r e d .....................e l9 8 9
G e n e ra l g 3*28 se rie s B .e l9 8 9
9 l " "97"
C h ic & L Su D iv g o s ___ 1921
C liic <fc M o R iv D iv 5 s . ..1 9 2 6
C h ic & P a c D iv 6 s ............1910
9834 ’ :J 9 l4
100*2 100*2
C h i c * P W i s t g 5 s ........1921
96*2 97
D a k & G t So g 5 s ............. 1916
Ear & Sou assu g 6 s........1924
94
S4
H a s t & D D iv 1st 7 s ........1910
9 5 34 101*2
1 st 5 s ................................. 1910
I & D E x te n 1st 7 s ..........1908
97 102*2
L a C ro sse & D 1 s t 5 s ___ 1919
M in e ra l P o in t D iv 5 s ___ 1910
13278 1 3 2 7j.
So M in n D iv 1st 6a..........1910
S o u th w e s t D iv l a t 6 s ___ 1909
W is & M in n D iv g 5 s ___ 1921
99*3 99*2
M il & N o 1st M L 6 s . . ..1 9 1 0
89
95*2
1 s t c o n s o l 6 s ...................1913
95 34 99*2 C h ic & N o r t h w c o n s 7 s . . . . 1915
E x te n a io n 4a..........1886-1926
R e g i8 te r e d ............18S6-1926
92*3 97*4
G e n e ra l g o ld 3*23_______ 1987
93
95
R e g is t e r e d ...................p l9 8 7
S in k in g fu n d 6 s . ..1 8 7 9 -1 9 2 9
100 <2 105 >2
9 9 34 103*2
R e g is te r e d ............1879-1929
S9*a 92
S in k in g fu n d o s . ..1 8 7 9 -1 9 2 9
R e g is te r e d ............1879-1929
y3-«4 99=8
89"« 93
D e b e n tu re 5 s .....................1909
88*3 89
R e g is te r e d .......................1909
D e b e n tu re 5 s ................. „ 1 9 2 1
R e g is t e r e d ...................... 1921
S in k in g fu n d d eb 5 s ____ 1933
95 100
R e g is te r e d .......................1933
D e s M o & M in n 1st 7 s .. 1907
N o rth I llin o is 1st o s . . ..1 9 1 0
O tt C E & St P a u l 1 st 5s 1909
W in o n a & S t P e t 2d 7 s . .19 0 7
MU L S & W e s t 1st g 6s 1921
E x t & Im p s fu n d g 5s 1929
A s h la n d D iv 1st g 6 s ..1 9 2 5
116*2 119*2
M ic h D iv 1 s t g 6 s ..........1924
101*3 101*v
C o n v e r tib le d e b 5 s ___ 1907
I n c o m e s .......................... 1911
124 124
125 7s 128*3 C liic R o c k I s l & P a c 6 s ...1 9 1 7
R e g is te r e d ...................... 1917
G e n e ra l g old 4 s ................. 1988
95*2 99*2
R e g is te r e d .......................1988
10039 103
R e t u n d in g g 4 s ............... 1934
103*4 10834
C o ll tr u s t S e r ie s H 4s ..1 9 1 0
103 10534
J 4 s ................................... 1912
M i s ................................... 1915
N 4 s ................................... 1916
O 4a.................................... 1917
P 4 s ................................... 1918
90 95
C h ic B. I & P a c R R 4 S ..2 0 0 2
R e g is te r e d ......................2002
C oll t r u s t g o ld 5 s ......... 1913
118*4 121
109 114*2
B u r C ed R <fc N o 1st 5 s . 1906
113 113
C on 1st & c o l tr g 5 s . ..1 9 3 4
89 99
R e g is te r e d ...................1934
C R I E & N W l s t g u 53.1921
75 93
65 91
M <& S t L 1 s t g u g 7 s ..1927
C h oo O k & G g e n g 5s .01919
93 94 4*2
C o n s o l g o ld 5 s ......... .. .1 9 5 2
K e o k <fc D es M l s t 5 a ___ 1923
C h ic S t L, <fc N O See 111 C en t

M IS C E L L A N E O U S

S tr e e t R a ilw a y
B rook ly n R a p T r g 5 s ........1945
1st re fu n d c o n v g 4 s ___ 2002
B k C it y l a t c o n 5a. 1916.1941
B k Q C o ifc S c o n g u g 58.1941
B k ly u U n E l l a t g 4-5S.1950
S tam ped g u a r 4 -5 s ___ 1950
K in g s C o E l 1st g 4 s . ...1 9 4 9
Stam ped g u a r 4 s __ ...1 9 4 9
N a ss a u K lee g u g 4 s ___ 1951
C on n R y * L l s t & r e f g 4 * 2 3 ’ 51
Stam ped g u ar 4 *as......... 1951
D en C on T r Co 1 st g 5 s . . .1 9 3 3
D e t U n ited 1st c o n g 4*38.1932
H a v a n a E lec c o n s o l g 5 a .1952
In t e r -M e t c o ll 4 *28............. 1956
I n t e r n a l T r a c c o ll t r 4s . .1 9 4 9
L ou ia Ky C o l e t c o n g 5 s .. 1930
M a n ila E le o 1st & c o ll 5a. 1953

FOUR

eD u eM ay

S tr e e t R a ilw a y
M e t S t R y g e n c o l t r g 5a. 1997
R e f g 4 s ............................... 2002
B w a y & 7 t h A v l s t c g 5 s 1943
C o l & y t h A v l s t g u g 5 s . 1993
L e x A v & P E ls tg u g 5 s l9 9 3
T h ir d A v e R R c o n g u 4s 2000
T h ir d A v e R y 1st g o s . .1 9 3 7
M e t W S E l(C h ie ) 1st g 4 s . l 9 3 8
M il E l R y & L 3 0-y r g 5 s .l9 2 6
M in n S t R y 1st c o n g 5 s ..1 9 1 9
N O rl R y & L t g e n 4 4 s ..1 9 3 5
S t J o s R y L t H & P l s t g 5 s ’ 37
St P a u l C ity Cab oon g Os.1937
U n d e rg ro u n d o f L o n 5 s . ..1 9 0 8
U n io n E l (C h ic) l a t g o s . .19 4 5
U n ite d R R s San F r s f 4 8 .1 9 2 7
U n ite d R y s S t L 1 s t g 4 s . 1934
W C h ic S t 4 0 -y r c o n g 5 s .l9 3 6

e 'D n e J ’ne ADne J ’ly

F-A
A -0

108
7
1084
84
84
1
1
113
113
113 4 D e o ‘ 06
113*4 D e o ’ 06
11
89
88*4
112*4 Jan ’07
F-A
93*3 J ’ l y ’ 06
F-A 1 0 6 4 111
109 J ’l y ’ 06
J -J
1 0 7 4 F e b ’ 06 . . . .
9 0 *3 Sep ’ 06 . . . .
J -J
88
M-N
103*4 O ct ’ 06
J -J
1 1 0 4 N o v ’ 06
107
J -D
94
19
94
93 4
100
100
1
A -0
82 7» 24
A -0 J 82 7» Sale
82*4
J -J
8 6 4 N ot ’ 06
86
87
M-N .......... ......... 99 D ec*97
J -D
M -S
M -S
J -J
J -J

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90

New York Bond Record'” Continued—Page 2

BONDS
N. Y. STO C K E X C H A N G E
W kkk E n d ik g J a n 11
C lue S t L *fc P itts See P en n Co
C h ic S t P M & O con 6 s . ..1 9 3 0
C on s 6s red u ced to 3*nS.1930
Ch S t P & M in n 1st g 6s 191
N o r W isco n s in 1st 6 s . ..1 9 3 0
S t P & S C ity 1 s t g 6 s . ..1 9 1 9
C h ica g o T e r T r a n s g 4 s . ..1 9 4 7
C ou pon o t t .............................
Clucife W est Ind < ?en g68?1932
C on sol 5 0 y e a r 4 s ............. 1952
C h ic <fc VV M ien s e e P e re Martj
C h oc O <fc G u lf See C R I & P
C U i E & D 2d a-old 4 *23...19^7
C in D & I 1st sm g 5 s ...l9 4 1
C Find<fc F t W l s t g u 4 s g . ’ 23
C in X & W 1st g u e 4 s . 1953
C I S t L & C See C C C & S t L
C in S <& G See C C C St 1,
C learfield & i t all See B R i ?
C le v C in C & S t L pen g 4s 1993
C airo D iv 1st g old 4 s ___ 1939
Cin W & M D iv 1s t g 48.1991
St L D iv 1st c o l tr g 4 s . .1 9 9 0
R e g is te r e d .......................1990
8 p r «fc C ol D iv 1st g 4 s . .1 9 4 0
W W V a l D iv 1 s t j? 4 « . . . 1940
C I S t L & C c o n s o l 6 s . .19 2 0
1st gold 4 s ............. „ ...fe l9 3 6
R e g is t e r e d ............... fcl936
Oin S & Cl c o n 1st g 5 s . .1 9 2 b
C C C & I c o n s o !7 s ..........1914
C on sol sin k fu n d 7 s ___ 1914
G en eral c o n s o l g o l d 6 s .1934
R e g is te r e d ...................1934
Inn B l & W 1st p r e t 4 s .1940
O Ind & W l s t 'p f 5 s...c il9 3 f*
P eo & East 1st con 4 s . . . 1940
In com e 4 s ........................ 1990
Cl L o r & WU c o n 1st g 5 s . 1933
C lev <fc M a rietta Act!Penn R E
C lev & M ahon V a l n 5 s . . .1938
C lev & P itts See P en n Co
C ol M idlan d 1st g 4 s ..........1947
C olorado <fc Son 1st g 4 s . ..1 9 2 9
C olum & G re e n v Sc<s So R y
Col (Vi H o ck V a l See H o ck Vai
C ol & T o l See H o c k V a i
Col c o n n & T e r m See N & W
Conn & P as R iv s 1st g 48.1943
3 >a tc & G t So s e e C M & St P
I 'a l i a s * W a co See M K da '1
Dei L a ck & W e s te rn 7 s . ..1 9 0 7
Alorris<fc E s s e s I s t 7 s .. .l 9 1 4
1st c o n so l gu a r 7 s ........1915
R e g is te r e d ...................1915
1st r e f g n g 3 *28............200<;
N V L a ck it W 1 s t 6 s . ..1 9 2 1
C on stru ction 5 s ............1923
T erm & im p rov e 4 s ___ 1923
S y r B in g <& N Y 1st 7 s ..19 0 0
W a rren 1st r e f g u g 3 *28.2000
Del & H u d 1st P a D iv 7 s . 1917
R eg is te re d .......................1917
10-yr c o n v d eb 4 s ............1916
A.lb & S u s c o n v 3 ^ s ........1946
ttens & S a ratoga 1st 7 s . 1921
Del R iv R R B r id g e S e e P a R li
D eu v & R G r 1st con g 4 s . l 9 3 t
C on sol gold 4*28............... 193L
im p ro v e m e n t gold 5 s . .. 1 9 2 jR io G r W e s t 1st g 4 s ___ 1939
M g e and col tru s t 4 s A . 1949
Utah C en t l s o g u g 4 a alU l'.
R io G r So g u See R io G r So
D es M oi & F t D See M & St 1
Dos M & M in n See Ch & N \\
D es M oi U n R y 1st g 5 s ..1917
Det<fc M a ck 1st lien g 4 s. 1990
G old 4 s ................................. 1995
D e ir o it S ou th ern —
O hio Sou D iv 1st g 4 s . . .1941
Dui & Iron R a n g e 1 s t 5 s .. 1937
R e g is te r e d .......................... 1937
2d 6 s ..................................... 1916
D ul S h ort L in e See N o r P a c
L>ui S o S hore <fc A t i g o s . .1937
l i 'a s t o f M in n 6 '« e S t P M & M
I j i i s t T e n V a & G a See So Ry
E lgin J o l & E ast 1st g 5 s . 1941
Elm C ort & N o See L e h & N i
E rie 1st e x t gold 4 s ............. 1947
2d e x t g old 5 s .....................1919
3d e x t g old 4*23.................1923
4th e x t g old 5 s ...................1920
5th e x t gold 4 s ...................192s
1st co n s o l g old 7 s ............. 1920
1st c o u s o l g fu n d 7 s ........1920
E rie 1st con g 4s p r i o r . . 1990
R e g is te r e d .......................1990
i s t c o n s o l gen lien g 4 s . .1 9 9 0
R eg istered .......................1990
P en n c o ll tr g 4 s ............. 1951
5 0 -y ea r c o n v 4s A ..........1953
B u ff N Y & E r ie 1st 7 s ..1 9 1 6
B u ff <fc S W gold 6a..........1 90 «
C liic & E rie 1st g old 5 s ..1 9 8 2
J e ff R R 1st g u g 5 s ___ o l9 0 9
L o n g D o ck co n s o l g 6 s ..19 3 5
Coal & R R 1st c u r g n 6S.1922
D ock & Im p 1st c u r 6 s ..19 1 3
N T & G reen L g u g 58.1946
N Y S us & W 1st r e f 5 s .1937
2d g old 4*23.....................1937
G en eral g old 5 s ............. 1940
T erm in a l 1st g old 5 s . ..1 9 4 3
R e g is § 5 ,0 0 0 e a c h ...1 9 4 3
M id R R of N J I s t g 6 s .l 9 1 0
W i lk & Ea 1st g u 5 s .l9 4 2
Ev<ft In d I s t c o n ir u g 6 a ..1 9 2 6

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117*2 11734 10
101 *2N ov ’ 06
129 J ’ l y ’ 04
118 S e p ’ 06
109 7g O ct ’ 05
121*2 D e c ’ 06
115*4 D e c ’ OO
100*4 D e c ’ Oo
12
103
103
118 .............
......... Oc* ’ 06
104 'b O ct ’06
110 O c t ’ 06
116 A p r ’ 06

107*2107*2
109*2 114*2
107*4 109*4
1 1 0 > 2 ll5 i4
127 134*2
133 133
99 102
99*2 100*4
89
93 >2
90
91
'-0
98
10034 109
104=8 104°n
116*2 12234
100 lO l* ,
129 135*2
i 0 9 78 109 7g
115
100
102
115*4

100
100
..........
86*4

....

103*2
95
117

N . Y. STOCK E X C H A N G E
W eek

e n u ik g

J a n 11

E r ie & P itts See P en n Co
E v a n s & T H 1st c o n s 6 s . 1921
1st g e n e ra l g old 5 s ..........1942
M t V e r n o n 1st gold 6 s ..1 9 2 3
S u il C o B ran ch 1st g 5 s . 1930
l.'a r g o
So Set Ch M & St P
* lint & P e re M See P ere Mar
Fla C & P en rn See Sea A ir L in e
F ort St U D C o 1st g 4*23.1941
F t W & D en C 1st g 6 s . . ..192 1
F t W & R io G r 1st g 4 s . . . 1928
< 1al H a r & S A See So P a c Co
' T a l H & H o f 1882 1st 58.1913
G eorg ia <fc A la See Sea A Line
G a Car & N o r See Sea A Line
G e o rg ia P a cific See So R y
G ila V G & N o r See So P a c Co
G o u v <fc O sw e g a t See N Y Cenl
G rand Rap<fe In d A’ee P e n n R R
G ra y ’ s P t T e r m See S t L S W
G t N o r —C B & Q c o il t r 4s 1921
R e g is te r e d , h .....................1921
G re e n b r ie r R y See Clies & O
G u lf < f e S ll s t r e f < f c t g 5 s 61952
an & S t J o See C B & Q
o u s a to n ic See N Y N H & H
H o ck V a l 1 st c o n s o l g 4 *28.1999
R e g is te r e d .......................... 1999
Col & H V 1st e x t g 4 s . .1 9 4 8
C ol & T o l 1st e x 4 s ........1955
H o u st E & W T e x See S o P a c
H o u s t & T e x C e n See So P a c Co
lliu o is C en tral 1st g 4 s . .1951
R e g is t e r e d ...................... 1951
1st g o ld 3*28...................... 1951
R e g is te r e d ............... .......1951
E x te n d e d 1st s 3*28........1951
1st gold 3s s te r lin g ..........1951
C oll T r u s t gold 4 s ........... 1952
R e g is te r e d ...................... 1952
L N O & T e x gold 4s ...1 9 5 3
R e g is te r e d ...................... 1953
C airo B rid ge gold 4 s ___ 1950
Lou isvD iV ifcT erm g 3 *23.1953
M id d le D i v r e g 5 s ........... 1921
Om aha D iv 1st g 3 s ........1951
S t L o u is D iv & t e im g 3 s .l9 5 1
R e g is te r e d ...................... 1951
G old 3*23........................ 1951
R e g is te r e d ...................1951
S p rin g D iv 1st g 3 *28. . . 1951
W estern L in e s 1 st g 4 s . .1951
B e lle v & Car 1st 6 s ........1923
C arb & Sha-w 1st g 4 s . .. 1932
Cliic St L & N O g 5 s . ..1 9 5 1
R e g is te r e d ...................... 1951
G old 3*28..........................1951
R e g is te r e d ...................1951
M ein ph D iv 1st g 4 s . ..195 1
St L S ou 1st g u g 4 s ___ 1931
In d B l & W e s t <i’e e C C C & S t L
[m l D e c & W 1st g 5 s ........1935
1st g u a r gold 5 s .................1935
In d 111 & l a 1st g 4 s ..........1950
lnt<& G rea t N o r 1st g 6 s . .1 9 1 9
2d g o ld 5 s ............................1909
3d gold 4 s ............................1921
Io w a C en tral 1st gold 5 s ..1 9 3 b
G old 4 s ................................. 1951
J eB erson R R See E rie
al A <fe G R See L S <fc M S
an is M id i See T o l & O C
K C F tS & M
See S t L & S F
K C & M R & B Sot- S t L <% S F
K an C & P a cific See M K & Ty
K an C ity S ou 1 s t g o ld 3 s ..l'J 5 0
R e g is te r e d .......................... 195u
K e n tu c k y C en t See L & N
K eok & D es M o See C R I& P
K n o x v ille & O liio See So R y
ake E r ie & W 1st g 5 s . . 1937
2d g o ld 5 s ........................ 1941
N o rth O hio 1st g u g 5 s .. 1945
L Slio & M ic h S See N Y Cent
Leh V a l N Y 1st g u g4*2S .1940
x ie g is te re d .......................... 1940
L e h igh V al (P a ) c o n s g 4 s .2 0 0 3
Leii V T e r R y 1st g u g 5 a .1941
R e g is t e r e d .......................... 1941
L eh V Coal C o 1st g u g 5 s .1933
Leh & N Y 1st g u ar g 4 s .. 1945
R e g is te r e d .......................... 1945
E l C & N 1st p f 6s ....... 1914
G old g u a r 5 s ...................1914
Leh & H ud R s e e C en t o f N J
Leh & W ilk e s b See Cen t of N J
L eroy & C a n ey V a l See M o P
L o n g D o ck See Erie
L on g I s l’ d— 1st con g 5 s ./i l9 3 1
1st con sol gold 4 s ........../il9 3 1
G en eral g o ld 4 s .................193.8
F e rry g old 4*2S .................1922
G old -is................................. 1932
U nified g o ld 4 s .................1949
D e b e n tu r e g o ld 5 s ........... 1934
G u ar r e f g o ld 4 s ............... 1949
B k ly n <fc M o n t 1st g 6 s . .1911
1st 5 s ................................. 1911
N Y B cfcM B I s t c o n g 5 s 1935
N Y & R B 1st g 5 s ........1927
N o r S h B 1st con g g u 5 s o l 9 3 2
L o u isia n a & A r k 1st g 5 s . 1927
L o u isv & N a s h v g e n g 6 s . 1930
G o ld 5 s ................................. 1937
U n ified g o ld 4 s .................1940
R e g is te r e d ...................... 1940
C oll tru s t gold 5 s ............. 1931
5-20-yr c o l tr d e e d g 4 s . 1923
E H <fc N a sh 1st g 6 s ----- 1919

H

i

l x x x iy

.

tr ic e
F n ila v
J a n 11

VVeeK's
R ange or
Last Sal-e

R a n ge
Y ea r
1906

Hid
A sk
114^
10534 108 k
108
.........
101*2 .........

L 010
Hitjh
117 D e c ’ 00
106*2 D e c ’ Oti
114 A p r ’ O
106*4 F e b ’ 06,

bow H ig h
117
118
106*2109*2

.....

106*4 106

9 6 34 ......... 1105 M ar’ 9 8
liu
110 vj 109*2 11
_____ 88*g| 9 0 D e c ’ OC
103

Sale

96*2 Sale

103

96*4
96 *4

110
84

lOii

115
91

98*2 103

21'
97
96*8

933& 1017g
96*» 101*2
101*2 1 0 5 3i

99*2 104

103*4 D e c ’ 06

104 *2 Sale

104
104H
103 N o v ’ UI
9 8 :i4 N oy ’ ik
100 D c c ’ 06

19 104 7* 110
103 103
98*i 101 *4
100 101*4

109 *2 S ep ’ 06
104*4 Aug
100 J ’ ue’OO
95*2 J ’ly 'O t
99*2 J ’ n e’ 06
70 O ct ’ 04
103 D e c ’ Ot
102 O ct ’ 01
101*2 1 0 1 k
100 M ay’01
105 A u g ’ « 6
93 *4 N o v ’Oo
123 M ay’ 9l
78*2 A p r ’06
7834
78-',

109*2 109*2
104*4 104*4
99 7&100
95*2 95*2
99 *2 101*4

*98*4 " I "

107

.

ib ’6 ‘4 !
98

101

i ’0'2 '

io i* -j
! - 9 j4 .
104*2.

ib i

i o 7 >4

101
100
105
91*2

106*2
100
105
9434

78*2 78*2
80
82*2

88

"93

93^2

8 7 34
102*4
117*4

102

1 0 7 34

93*2 j ’ n e’bti
91
90*2 101 *8 O ct ’99
100 N o v ’ OO
102
102
122 D e c ’ OD
90 N o v ’ 9
95
1 1834 122*2 121*4 D e c ’ 06
11934 M a r ’04
93=8 Alay’ 01
100
9 9 34

i'20-K i '2 3 ‘4

101 *2 101*2

1 0 1 *2 A u g ’ 0 6

103

N o v ’ 04

105
105
......... 106
107 *2 D e c 0*
99 O ct ’ 01
" 95*2 i b o "
115*2 Sale 115*2 115*2
99 *2 100
99*2
99 S.
77
79
77
79
H O 111
110
110
8 5 5b N o v ’ Oi
......... 85

106=8 108 78

"93*4 ib o"
115
98
73
109
8 3 34

120
102*4
80
115
88

K

L

71

112*11.
1 0 7 7g .
108*2.

9 5 -’4 .
i ‘0'4 " ’

72

71*4
713^
63 O ct ’ 01

17

75*4

112 *2 Jan ’ 07
1073s 107-v
117 J a n ’06

114 119
11034 113*2
117 117

107*2 J a n
112*8N ov
95 O ct
1 16 O ct
109*2 O ct
112=8 A p r
9 6 34 D e c

109

112 115*2
95*8 9 6 34

1 1 3 7g «fan
105*4 Jan

L13 ' g 1 13 ^9
105 *4 105 ‘4

111*2

i " '-98 *4
116 1 2 0 4

113 *8........ 114*4 D e c ’ Oi
9 9 * 2 ........
9 7 * 4 ........
96*2 D e e ’bti
102 N o v ’ 05
" j4 "
99*4 O ct ’06
93*2 95
96*2 D e o ’ Ob
1 07 *2........ 110 J ’ n e’ 04
98
98

11334 117

102*2 .

1 0 1 *2 1 0 3 = 8
1 1 0 * 4 1 1 0 *4

102*2 102*-.
1 1 0 * 4 N o v ’06
i'u8*2 "
10«*4 10 9*4
109-* H I ' , 109 N o v ’ ye
103*2 105 J ’ n e ’06
iifi”
115 J a u ’ 07
116 .
116 *8N ov’ 0t
10034 •
100*-j 10034
101 *s J ’ ly ’ 06
107*4 109
111*4 J ’ n e’ Ot
*96*2 97*2 97 J a n ’ 07
110*2
110 I ) e c ’06

95*2 ib'_"*4
99*4 "99*2
95 7a 101a4
9 9 " 102*2

111 111
109 109
105 105
114*4 120*4
116*«121*2
9 8 *4 1 0 4 * 4

100

101**

1 1 1 *4 1 1 5 * 2

953k 100
110 110

B O N D S — C o n tin u e d on N e x t 1’ a s e .

2 105
43 63
45 L37

....

li7*<
103
110
118

i04*g i '16"
109 113
1 1 6 118

.H l!iC E I iL 4 N K O U S

(>n§ a n d E l e c t r ic L ig h t
-Athintfl G L C o l s t g 5 s . . .1 9 4 7
iik ly n U G as 1st con g 5 s .1945
B u u alo G as 1st g 5 s ............1947
C o iis o lG a s c o n v d e b 6 s ___ 1909
Con sum G as See P G & C C o
D e tr o it C ity G as g 5 s ..........1923
D et G as C o con 1st g 5 s . ..1 9 1 8
&■:. E l i l l B k u s e e K C o E L & P
E d E 111 See N Y G & E L H & V
E q G L N Y 1st c o n g 5 s . .1932
G aa& E le c B erg Co e g 53.1949
G e n E le c t r ic d eb sr 3 *23..1942
G r R ap G L Co 1st g 5 s . . .1 9 1 5
H u d so n C o G as 1st g 5 s . . 1949
K an C ity (M o i G as 1st g 5s 1922
K lu g s C o E l L <fc P g 5 3 ...1 9 3 7
P u rch a se m on ey 6 3 . . . „ . x 9 9 7
E d E l 11 B kn I s t c o n g 4 s 1939

135

98
120*2 126 *i 12134 Sep '06
1 2 1 34
111
1 0 8 '2 A u g ’ 06
108*2
102
1023„ A u g ’ 06
102 5a A u g ’ Ot'
101*2
102 F e b ’ 03
125 *8........ 133 F e b ’ 06
1*33"
149 A u g ’ 01
107*2 Sale Iu738 109
154 1 0 6 "
112 1 1 5 112 >2 D e c ’ 06
105
133*2 D e c ’ 00
132 7«
133*2

M -S

98*

1 0 4 12 N o v ’ 01

J -J

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

1313, 135*i

.....

94 ......... 94 Jan ’ 07
72 *2 Sale
72i<
7 2 34
1 I 2 34
11234 1 1 2 34

F-A

Low h i g h
129*2 136

.....
.....
.....

A -O

J -J

Banae.
Y ea r
1906

[V o l.

( i n s a n d E l e c t r ic L ig h t
L a c G a s L o f S t L l s t g 5 s . e l 9 1 9 Q -F
R e f and e x t 1st g 53........1934 A -0
113*2
8034 M ilw a u k e e G as L 1st 4 s . . 1927 M-Nj
16834 N Y G E L H & P g 5 s . ..1 9 4 8 J -D
P u rch a se m o n e y g 4 s . ..1 9 4 9 F-A
104
Ed E l 111 1st c o n v g 5 a .. 1910 M-S
1st co n so l gold 5 s ..........1995| J - J
101 *2
N Y & Q E l L & P 1st co n g 5 s l9 3 0 F -A
N Y
R ich G as 1st g 5 s .l9 2 1 .M -N
.......... P a t * P a s ( j <fc E c o n g 5 s . l » 4 9 M-S
Peo G as & C 1st c o n g O s.l_ 1;; A -0
90
R e fu n d in g gold 5 s ........... 1947 M-S
CI1G -L & C k e l s t g n g S s 1937 J - J
108*2
Con G Co of Ch 1st g u g 5 s .’ 36 J -D
98
M u F u el G as 1st g u g 5 s .l9 4 ? iM - N
S y ra cu se L ig h tin g 1st g 5 s .’ 51 J-D
122
T r e n to n G <fc El 1st g 5 s ..l9 4 9 !M -S
93*2 W e s tch e s te r L i c li t ’ g g 5s.l950| J -D

104 *2 D e c ’ 06
^0 4 * 8 ___
102*2 D e c ’ 06
102 *2 105
9 1 ’-.91*2 91*2
102*2 103
103
S a le
84 *2
84
84=g 84
101 D e c ’06
1 0 0 34 . . .
113*4 J ’ n e’06
'9 9*8 9&34 D e c ’06
103 N o v ’ 05
......... 97
10434 N o v ’ 05
i i o " I I I " 117 D e c ’ 1'6
101 ....... 1U2 J a n ’ 07
106 O ct ’06
103 106
........ 105 J ’ n o’06
'1 0 4
103 *2 D e c ’05
........ 105
9 8 * 2 ........
1 0 3 * 2 ........ 110 M hv’ 05

1023s 108*2
101 10434
93
94
102 10934
83
92
100 104*2
113*4 118
98 104*2
117
101*2
104
105

128
1 0 7 7,
107
108

102
102 103 102
1 u o i> 2 io 8 i;
93 *2 M a r’ 06
93*2
.........
•"No price Friday; latest bidand asked this week. x> Dae Jan b Due Feb d Due A pr e Due May /iD u e J ’ly k Due Aug o Due Oct 3 Due Dec jO D tlonS al*




W eek's
R a n ge or
L a st Sale

P r ic e
frid a v
J a n 11

N . Y . ST O C K E X C H A N G E
W kkk E nding J a n 11

M

L ow

111 1173s
111*2112*2
97

102% ibe”

19*8 21

75Ha 87
16 Hi 28
14
21

99*2 103

98*2 101

118

10034 102*4
96*2 103
84*4 9 2 ns
102 107
82--s 91*2
85 90*4
88
9-i
.07 108
94
96*4
116
10434 1 0 9 7«
105
1095h
108*4 10H *4
IO534 109*2
118*2 125
103 1 0 7 ^
104 107*2
102*2 108*2
90
94*2
93

111*211734

8 9 "‘s "94**
91*2 98
107 3 07*2
113 115%
94 Hi 9 «
124a4 128*4
93
9V
113*2 11434
92*2 98

113*6 119 <*8
112 115%
119*4 119*4

101*2105
82*4 87*2

86 87k

917g 9P34
92
98*2
98 102*4
8 6 *« 93
85 Hi 91*2
36*2 92*2
J-6*4 90*4
102 105*2

103

103

100

104 Hi

• U I.SO ELiIjA N K O U S

98

F-A
F -A
J -D
J -D
J -J
J -J
J -J
A -0
J -J
J -D
F-A
M-S

59**
99%
7
83 J 'l y ’ 0 6 ___
107 H2 O ct ’04
102% A p r ’ 06

....

75
76*, 83
107% D e c ’ 04
107 M ay’ 97
102 *2 O ct ’03
105*2 l ) e c ’ 06
105 O ct ’ 00
91 Ji
2
9 4 * 2 ........ 9 1 34
106 ......... 108*4 D e c ’06 ....
105 Hi 108 H 108 D e c ’ 06
102 D e c ’ 03
100
102 D e c ’ 06
97 Sale
274
97
97
76

3a lc

N Y C en t & H l i — ( C o n tin u ed )
N o r & M o n t I s t g u g 53.1916 A O
W e s t S h ore 1st 4 s g u ...2 3 6 1 J -J
R e g is t e r e d ...................... 2361 J -J
L a k e S h ore g o ld 3 H2S___ 1997 J -D
R e g is t e r e d ...................1997 J -D
D e b e n tu re g 4 s ............. 1928 M-S
K a A ifetr R 1 s t g u c 5 s . 193S J -J
M ahon C’ i R R 1st 5 s . .1 9 3 4 J - J
P it t 8 M c K & Y 1st gu 6 s .1932 J - J
2d g u a r 6a........................ 1934 J - J
M c K e e s & B V 1st g 6s 1918 J - J
M ich C en t 1 s t c o n s o l 6s. 1909 M-S
5 s .........................................1931 M-S
R e g is t e r e d ...................1931 Q-M
4 s .........................................1940 J -J
R e g is te re d ...................1940 J -J
J L & S 1st g 3*28............1951 M S
1 st g 3*28 ............................1952 M-N
B a t C & S tu r 1st g u g 3 s . 1989 J -D
N Y & H arlem g 3 *2& ...2000 M-N
R e g is te r e d ...................... 2000 M-N
N Y & N o rth 1st g 5 s . ..1 9 2 7 A-O
R W ife O co n ls te x t5 s .7 i.1 9 2 2 A - 0
O sw e & R 2d g u g 5 s ...e l9 1 5 F-A
R W & O T R 1st g u g 5 s. 1918 M-N
U tica cfc Bile R iv g u g 4 s .l9 2 2 J -J
N Y C liic & S t L 1st g 48.1937 A-O
R e g is t e r e d .......................... 1937 A -0
N Y <fc G re e n w L a k e See l in e
N Y & H a r See N Y C & H ud
N Y L a ck & W See D L & W
M I L E &, \V See E rie
N Y & L o n g B r See C en t o f N J
N e w Y o rk N e w H a v & H a r t—
l lo u s a t o n ic R co n g 5 s . .1937 M-N
N H & D e rb y co n c y 5 s .l9 1 8 M-N
N Y & N o rth See N Y C & H
N Y O & W r e f l s t g 4 s ..f ll9 9 2 M-S
R e g is S5.000 o n ly ..........a l9 9 2 M-S
N Y '& P u t See N Y C & H
N Y <fe R B See L o n g Isla n d
N Y 8 & W See E rie
N Y T e x & M See S o P a c Co
N o r <fe S o u th 1st g 5 s ..........1941 M-N
N o r f & W e s t g e n g 6s ........1931 M-N
im p r o v e m ’ t & e x t g 6 s ..1934 F-A
N e w R iv e r l s t g 6 s ........1932 A -0
N & W R y 1st co n g 4 s . 1996 A-O
R e g is t e r e d ...................... 1996 A-O
D iv ’ l 1 s t life gen g 4 s ... 1944 J - J
P o ca li C * C j o i n t 4 s . .l 9 4 1 J -D
C C & T 1st g u g 5 s ..........1922 J -J
S cio V & N E 1st gu g 4s 1989 M-N
N o rth Illin o is See C lii& N W
N o rth O hio See L E r ie & W
N o r P a c—P r io r lie n g 4s . .1997
J
R e g is te r e d ...................... 1997 Q -J
G e n e ra l lien g o ld 3 s ___ a.2047 (i-F
R e g is t e r e d ...................a2047 Q -F
S t P a u l-D u l D iv g 4 s ___ 1996 J -D
D u l S h o r t L I s t g u 5 s . .1 9 1 6 M -S
C B & Q c o ll tr 4s .See G t N o r
S t P & N P g e n g 6s ___ 1923 F-A
R e g is te r e d c e r t i f i e s . . 1923
S t P a u l & D u l 1st 5 s . . ..1 9 3 1
2d 5 s ..................................1917 A-O
1st co n s o l g o ld 4 s ..........1968 J-D
W a s h C e n t 1st g 4 s ..........1948
N o r P a c T e r C o 1st g 6 s ..1 9 3 3
N o r R y C ai See So P a c
N o r w i s See C S t P M <fc O
N o r & M o n t See N Y C en t
lm l cfc W See C C C & S t L
iiio R iv e r R R 1 s t g 58.1936 J-D
G e n e ra l gold 6 b................. 1937 A -0
O ro & c a l See S o P a c Co
O re R R & N a v See Un Pao
O re S h o rt L in e See U n P a c
O sw e g o & R o m e See N Y C
O C F & S t P See C & N W
O z’ r k & C h e r C l s t g u 5 s g . l 9 1 3 A -O
j a c C oa st C o 1st g 5 s . . ..1 9 4 6 J -D
- ac o f M is s o u r i See M o P a c
Panam a 1st s fu n d g 4H as..1917 A-O
S in k fund s u b s id y g 6 s ..1 9 1 0 M-N
P en u Co— G u ar 1st g 4 * a s .l9 2 1 J -J
R e g is t e r e d ...................... 1921 J -J
G uar 3*28 c o ll t r u s t r e g .1 9 3 7 M-S
G u a r 3 *2S C o lltr ser B . . . 1941 F-A
T r C o c e r t if’ s g u g 3 *2 8 .1916 AI-N
G u 3H:S t r c t fs C ............... 194 2 J -D
G „ 3 *28 tr c t l s D ............... 1944 J -D
O S t L<fc P 1st co n g 58.1 9 3 2 A -O
Cl & P g e n g u g 4 * s s s e r A . ’42 J-J
S e rie s B ............................ 1942 A-O
S o rie s C 3*28...................194b M-N
S e rie s D 3H ss...................1950 F-A
E r ie & P itts g u g 3 * o s B . 1940 J - J
Se rie s C ............................ 1940 J - J
N & C B d g e g e n g u g 4 *2S l 945 J -J
P C C & S t L g u 4 * a s A . . .1 9 4 0 A -O
S e rie s B g u a r .................1942 A -0
S e rie s C g u a r .................1942 M-N
S e rie s D 4 s g u a r ..........1 9 4 5 M-N
S e rie s E 3*2 g u a r g ___ 1949 F-A
S e rie s F 4s g u a r ..........1953 J -D
P it t s F t W & 0 1 s t 7 s . .. 1912 J - J
2 d 7 s ................................... 1912 J - J
3d 7 s ................................A.1912 A -0
P en n R l t 1st real e s t g 4 s . 1923 M-N
C o n so l g o ld 5 s ................... 1919 M-S
C on sol gold 4 s ...................1943 M-N
C o n v e r tib le g 3 *28........... 1915 J-D
C o n v e r tib le g 3*28........... 1912 M-N
A lle g V a l gen g u g 4 s . ..1 9 4 2 M-S
Cl <fc M a r 1st g u g 4 *28..1 9 3 5 M-N
D R R R & B g e l s t g u 4 s g . ’ 36 F-A
G r R<fc I e x 1st gu «4H is 1941 J -J

u

33

O

97*2 105
88 102*4
102% 1 0 2 %
73

103 Sale
103 ........
93 *2 95
94 H
98
98*2
112*2
114
129
106

.

102

115=8.
100

*9 (5'

R an ge
Y ea r
1<JU6

W eek 's
R a n ge or
L,ast S a le
Low

Jlig h

Low

103

105

94
94
98

94*.
J'an ’ 07
93 H

104 109
102*2 107*t
94 101 *n
93
9934

102*2 102*8

B igh

9 6 * 4 1 0 1 7a

125 Hi M a r’06
139 J a n ’ 03

1 2 2 Hi l'^'> Hi

104 D e c ’ 06
118*4 J ’l y ’06
119 J ’n e ’ 06
103 D e c ’ 06
106*2 N o v ’OO
94*2 D e c ’ 06
95 D e c ’ Ob

104
118*4
119
103

107*4
1^0
119
104*2

*94Hi*944
95

98*2

101 Hi J ’ly ’06

101*2101*2

119*2 M a r’05
1 1334 114
11334 Jan ’ 02

1 1 1 * 4 1 1.8

102*2.
101V

103 s A u g ’ 06
102%
103
1007s O ct ’ 06

103 78 104
102 106
100*8 100**

114

124

124

112
11334
98

100

.

Sale

F e b ’ 06

99*8 100%
101 H2J ’ n e ’Ot

99H, 104 34

101 101H
i

104 Sep ’ 06
129*2 129 H
13 0 34 F e b ’06
127*4 O ct ’ 06
99
9 9 J,
100 F e b ’ 06
97*4 D e c ’ 06
90*2 92*, 91
91
105 .
109*2 F e b ’ 05
99
99*2
99*8
99*2

104
129
13034
127*4
98%
100
96
90%

l'^ 9 °8 .
1 2 9 :>4 .
127 ,
9934 !

1 0 1 7s Sale
..........101
7 3 7a Sale

125

98

10134 102

111
132»*
1
127*4
102*8
100
99 *2
95 Ha
103

102 106*4
10034 106
7 3 *4 7 8 Hi
74*2 76
95 101

10034 101
73’ 8
74 *,
75 N o v ’ OO
9 5 34
9534

101*2.........

122
117

112

....... 1 2 3 \ N o v ’ 06
........

.......

107*2 110
94 ........
90 ........
1 1 3 4 ) ...........

122*8 125

132 J ’l y ’ 99
113 M a r’06
108*4 N o v ’06
98 *2 O ct ’ 06
93 M ay’ Ots
117 N o v ’ 06

113

113

10734110
98*2 100
91
93
115 117

116 M ay’ OO
..........114
107 Hi 111 *2 113 *2 N o v ’ 06

116 116
110*8 11434

*97*8 100
......... 109

98*4 160=8
109*2 114

101

99 D e c ’ 06
109 *2 D e c ’ 06

........ 103

103

J ’l y ’ 06
102 A p r ’02
i o 6*2 Sale 1 0 6Hj 106*2
101 ......... 106 D e c ’ 06
8 8 * 2 .......... 90 Hi J ’ n e ’ 06
87=8 ......... 90 O ct ’ 06
95
94^4 95*2 95
89 O ct ’ 06
90*2 M a r’ 06
115
115
115 Hs.
.
108*4 A u g ’0 3 1
106 .
98*2 D e c ’ Oi
96 J a n ’04
9 2 34 .
96*4 J a n ’ 06
0SJ4 A p r ’ 04

10734

ib'034'
91

100

96*4

10i*2 O c t ’ 0 U
109 *2 J a n ’ 07
112*2 J ’ ne'OO
98 J a n ’07
90 *3 D e c ’ Ot.

109*4 .
109 >4 .
.

.

............1 0 3 * 2

93 *4 Sale
97 Sale

96*4

108 Hi 112%
109 *2 112*4
99
89=s

127=8 O ct ’ 02
119 J ’ n e ’ 06
119 A p r ’ 04
104 D e c ’ Ol
I I I *2 Sep ’ 04
106 A u e ’ o;-;
93*8
95
97
100*4
104*4 O ct ’ 05
110 J a n ’ 05

10234 .......... 108

IO634

104 Hi 1083*
105 106
90*2 90*2
90
923*
95*2 98
89
89
90*2 90*2
117*2 122

99
94**

117*2 119
i ‘0'4 " i ‘o 6 * i
92
96

101
10534

S e p ’ 06 . . . . 105

108%

B O N D S — C o n tin u e d 011 N e x t i’ a c e

83 V,

105 *2 105 V
96% 101*2
106 110*2
106% 111
100 10334
9 1 34 98*2

T e l e g r a p h atul T e l e p h o n e
A m T e le p & T e l c o ll tr 4s 1929;
C om m C a ble Co 1st g 4 s . .2397
M et T & T 1st s t g 5 s ........1918
M ic h . S tate T elep . 1st 5 s . 1924
N Y & N J T e l ge n g 5 s . . 1920
W e st U nion c o l tr c u r 5 s . 1938
F d and real est g 4 ‘2 S ...1 9 5 0
M u t U n T e l s fu n d 6 s . ..1 9 1 1
N o rtliw T e l g u f 4 *28 g .,1 9 3 4
M a n u f a c t u r in g
I n d u s t r ia !

J -J
Q -J

Jki-N
F -A
,vl-.N
J -J
M-X
M-N
J -J

92

90

......
_
102*2 103
100 *2 Sale

90
90
96 Hi J 'n e ’06
109 *2 M ay’ 05
101*2 J ’l y ’ 06
105*8 j ’i y ’ 03
103
103
100
100*2
106 *2 M a r’ 06
103 J ’l y ’ 04

2

....
*...
....

90% 1:5*4
96H: 98
101*2 101*2

1 103 109*2
7 99 *2 106
106*2 107

92
98
94
92
9 94
89<V 89
8 9 34 32 89 100*8
89
88
4 8 6 34 94
88
88
101 D e c ’ 00
98 104
101 102
91 D e c ’ 06
89
88*2 9 2 in
110 Sale 109*4 110
96 109 117
77V 394 76 *a 84
77*4 Sale
76%
0 Due Oct p Due N ov q Due Dec s Option Sale

A m C o t O il e x t 4 *2S............1915
A m H id e & L 1st s f g 6 s ..1 9 1 9
A m e r I c e S e c u r d eb g 6s .. 1925
A m S p irits M fg 1st g 6 s . . l 9 1 5
Am T h rea d 1st co l tr 4 s . ..1 9 1 9
A m T o b a c c o 4 0-yr g 6s ___ 1944
4 s............................................ 1951

N o prioe Friday; latest bid and asked. aD u eJ a n tiD u oF cb cD u e M a r d Dae Apr A l)u s J ’ly fcDue Aug




P r ic e
F r id a v
J a n 11

j

87*8 88H
.

M -N

99

1013b 105
a 6 1 2 0 38

S6% .

A -0

120*8

109 114*2
90*2 97
97
97*2

....

99*8 Sale
85 .........

100 Hj

9934 100^
100'4 100

87*4 88

F-A
F -A
J -J

.11igh

127 130
122>4 122*4
107 *4 11)7*4
117 H> 120*2
71*2 71*2
116 116
10S*2 108*2
98 101
108 110
9 3 34 98

11018112

N

BONDS
N . Y . STOC K E X C H A N G E
W e e k E n dino J'an 11

Kant/e
Y ea r
1 90 6

High.
L ow
Lou lav cfc N a s h v —( C on tin u ed j
B id
109 M a r’05
L Cin<fo L e x gold 4*28...1 9 3 1 M-N 10634
127 D e c ’ 06
N O & M 1st gold 6 s . . ..1 9 3 0 J -J 123
122 >4 M a r ’06
N O & M 2it g old 6 s ........1930 J-.I
1 0 7 *4 A tig’ ()6
P en sa cola D lv g o l d 6 s . ..1 9 2 0 Wl-S
118 N o v ’ 06
8 t L D lv 1st gold 6a........1921 M- S 118% •
71*2 Sep ’ OH
2Cl gold 3 s . l .....................1980 M-S
110 J ’ly M 6
A tl K n ox <fe N o r 1st g 531940 J-D
108*2 Jan ’ 06
H e n d e r B d g e l s t s f g 6 s .l9 3 1 M-S
97 =8
96**
97%
K e n tu c k y C en t gold 4 s . .1987 J -J
L c f c N & M & M I s t g 4 * 2 8 l9 4 5 M-S 103 107 Hi 108 J ’ ly ’06
92
92
92
L & N -S o n t h M j o in t 4 3 .1 9 5 2 J - J
114 D e c ’OC
N Fla & S 1st g u g o s . ..1 9 3 7 F-A 112*^ .
112
112
P en s <fe A t l 1st g u g 6 s ..1921 F-A 112 .
115*4 M ur’ 05
B & K A la c o n gu g 5 s .. 1930 F-A 1 1 1 % .
107 D e c ’ 05
104*2 •
S in k tund gold 6 s ..........1910 A -0
97 M ay’ 06
L«fc J e ll B d g e C o g u g 4 s .. l 9 4 5 M-S *95 .
L N A <6 Oh See C I <fc L
ahon Coal See L 8 & M S
*
anhattnn Ry c o n s o l4 3 .1990 A -O '
lu 4 A p r ’ 05
R e g is te r e d ...................1990 A -O '
io i% .
M e tro p o l E l 1st g 6 s -----1908 J - J
M c K ’ pt<fc B V See N Y C en t
M etrop olita n E l See M an R y
85 J,
86
So "3 Sale
M ex C en t co n so l gold 4 s . .1911 J - J
2 7 *2 Sale
27
2734
i s t c o n s o l in com e g 3 s .a l9 3 9 J ’ ly
-0
i:l
2d c o n s o l in com e g 3 s ..a l 9 3 9 J ’ ly
E q u ip & c o ll g old 5 s ........1919 A -0
101
1 0 0 ’-2 D e c ’ 0C
C oll tr g 4>a8 1st S e r ___ 1907 F-A
90 *2 90% J iy ‘ 01
M ex In t e r n a l 1st c o n g 4 s . 1977 M-S
105 M ay’ OO
M ex N o rth 1st gold 6 s ___ 1910 J-D
M ich C en t See N Y C en t
M id o t N J See E rie
M il L S cfc W See C h ic & N W
M il & N o rth See Oh M <& S t P
137 J ’ n e’ 05
M inn <& St L 1st gold 7 s . . 1927 J-D
111 O ct ’ 05
I o w a E x 1st gold 7 s ........1909 J -D
P a cific E x 1st g old 6 s ...1 9 2 1 A -0 118 ........ 118 J’ n e ‘06
113*4 M a r’ 05
South W e s t E x 1 s t g 7 s .1910 J-D
109
1 st co n s o l gold 5 s ............. 1934 .M-N i b b 's 1 1 2 ’ lOv*
9 2 34 No\ ’ 06
1 st an d r efu n d g old 4 s . .1 9 4 9 M-S ......... 94
92
98
97 A p r ’06
D os M & F t D 1 st g u 4 s . . . ’ 35 J -J
M in n A S t L, g u See B C R & A’
101 O ct ’ 06
M S t P <& S S M c o n g 4 in t gu ’ 38 J -J
103 N o v ’ 01
M SSJM & A 1st g 4 in t g u 1926 J -J
M in n U n See S t P M & M
93 Sal<98 ^4
97*2
M o K an & T e x 1st g 4 s . ..1 9 9 0 J-D
87 34 Sale
87 Hi
87
2d gold 4 s .......................... ffj.990 F-A
103^
104
1st e x t gold 5 s ...................1944 M-N 102 ** 104
85*2
8 5 1"
85 % s a le
1st & re fu n d 4 s .................2004 M -S
88 Hi Sale
87 Hi
88 i 8
G en s f 4*28.................... 1936 J - J
86
. 89 D e c ’ Ob
St L D iv 1st ret g 4 s ___ 2001 A -0
108 Feb'o*.
D al & W a 1st g u g 5 s. ..1 9 4 0 M-N 103 105
94 O ct ’ 06
91
96
K an C & P a c 1st g 4 s . . . 1990 F-A
M O V J an ’ 07
M o K & E 1st g u g 5 s . ..1 9 4 2 A O
M K & OK 1st g u 58........1942 M-N 106 *3 sa le K.OHj 107
M K & T o l T 1 st gu g 5 s . 1942 M-S 106 *2 Sale 106 ••j 106H
1 0 8 14 A p r ’ 06
S lier Sli & So 1st gu g 5 s . 1943 J -D 104
. 10534 A p r Oc
T e x & O kla 1st g u g 5 s . .. 1943 M-S 105
119*4 D e c ’ 06
M o P a cific 1st c o n g 6s . ..1 9 2 0 M-N 119 120
105
T r u s t g old 5a s ta m p e d .a l9 1 7 M-S 104 “2 ......... 105
107 H F e b ’ 06
R e g is t e r e d ................... a l9 1 7 M-S
104*4 Sale 10434 105
1st coll gold 5 s ...................1920 F-A
89 ......... 89 Hi
89 H;
40-vear co ld loa n 4 s........1945 M-S
9 9 % 100'J,
3 d 7s ext<l a t 4 % ............... 1938 M-N
4 *2 J a n ’0
94»4 96*2
C en t B r i i y 1st g u g 4 s . 1919 l: -A
110 M ar’ 05
L e ro y <&C V A L 1st g 5s 1926 J -J
P a c R o f M o 1st e x g 4 s . 1938 F-A 101% ....... 1 0 l 34 101
2d e x te n d e d g old 5 s . . . 1938 J - J 114 120*9 118 J ’ n e ’ 06
8 t L I r M & S g e u c o n g 5 s l 9 3 1 A -0 1 1 3 Bs ......... 1133b 1133s
116 N o t ’06
G en con stam p g t d g 5s 1931 A -0
87 >2 Sale
U n ified tfc r e f g old 4 s . .1 9 2 9 J -J
92 ......... 9 2 *4
92*4
R iv & G D iv 1st g 4 s . . 1933 M-N
107 *2 A p r ’Oo
V e r d i V I & W 1st g 5 s . 1926 Nl-S
11538 A p r ’ 06
M o l> & B ir m p r io r I ie n g 5 s l9 4 5 J -J
96 u c t ’ 05
M ortg a g e g old 4 s ............. 1945 J -J
98 D e c ’ 06
M ob J <fc K C 1st co n s g 58.1053 J -J
M ob & O hio n ow g old 6 s ..19 2 7 J -D m * '2 122 % 121*4 J a n ’ 07
122 D e c ’06
1st e x te n s io n gold 6 s ../il 9 2 7 Q-J
94
93 Hi 94 *2 94
G en era l g old 4 s ................. 1938 M-S
114*2 J ’ly :06
M on tgon i D iv 1st g 5 s . .1947 F-A 109 . . .
92 Hz A u g ’06
S t L & C airo c oll g 4 s . .41930 Q -F
101 N o v ’04
G u aran teed g 4 s ............1931 J-J
M & O c o ll 4s See Southern
M oliaw k & M ai S e e H i 'C i f c i i
M on on gah ela R iv See B & O
M on t C en t See S t P M & M
M orga n ’ s L a & T See 8 P Co
M orris & E ss e x See D ei L & W
115*2 119
118 D e c ’ 06
ash C hat <fc S t L 1st 7 s .1913 J - J
1st co n s o l g o ld 5 s ..........1928 A -0 113 *4 Sale 113*4 116
113%
119*4 F e b ’ 06
J a s p er B ra n ch 1 s t g 6 s . .1 9 2 3 J-J
M cM ML V V & A 1 1 s t 6iL. 1917 J-J 1 1 0 :>4........ 117*4 M a r’ 05
113 J ’l y ’ 04
T & P B ran ch 1st 6 s ___ 1917 J -J
N ash F lor * Shet See L & N
1025s D e c ’ 06
N at o f M e x p rior lien 4 *28. 192 6 J -J
84*4 J a n ’07
1st co n s o l 4 s ...................... i y o i A -0
K e w H & D See JM Y N 11 & 11
N J J u n e R R nee N Y C en t
N e w <fc C in B d g e See P e n n Co
N O & N E p r io r lien g 6s p l9 1 5 A - 0
N Y B k ln & M an B cli See L 1
N Y C e n t & 11 R iv g 3*28.1997 J - J
93% Sale
93*8
93*8
R e g is te r e d ...................... 1997 J -J
92 % Sale
92*2
92Hi
D e b e n g 4 s ........................ 1934 M-N
98*4 Sale
98Hi
99
E ake S hore c o ll g 3 * 2 S ...1998 F-A
88 >2 Sale
R e g is te r e d ...................... 1998 F- a
86
87
8 6 Hi D e c ’ 06
M ich C en t c o ll g3*2S-----1998 F-A
8 6 *a
86 ~j
R e g is t e r e d ...................... 1998 F-A
85% 87 *v 88*4 J ’ n e’ 06
B eech C reek 1st g u g 4 s . 1936 J - J
1 0 2 14 Sep ’06
9a ...
R e g is te r e d ...................... 1936 J -J
102 M a r’ 04
2 d g u g o l d 5 s .................1936 J -J
B eech Cr E x t 1st g 3 *28 61951 A - 0
C art & A d 1st g u g 4 s .. .1981 J -D
103%
C learf B it Coal 1st s i 4 s . 1940 J-J
95 A p r ’0 ‘.
G o u v & O s w e l s t g u g 5s 1942 J-D
M oll
M ai 1st g u g 4 s . .1991 M-S
103 D e c ’06
N J J u n e ±t g u 1st 4 s . ..1 9 8 6 F-A
105 O ct '0 2
N Yife Pu 1st con g u g 4s 1993 A -O 100 103
1 0 1 14 D e c ’ 06

C o a l a n il I r o n
Cpl F & I C o g en s f g 5 s . .1 9 4 3
C o n v e r tib le d eb g 5 s ___ 1911
C ol C <fc I D o v g u 5s "g” l9 o 9
Col Fu el C o g e n gold 6s . 1919
G r R iv Coal & C I s t g 6 s l 9 1 9
C olorado In d u s tr ia l
1st m ^e <i; c o ll 5s g u ___ 1934
C on tin ’ ta lC l s t s f g u 5s g . l 9 5 -j
Jen & C lear C & 1 1st g 5 s . 1926
2d g old 5 s ............................ 1926
K a n & H C & C i s t s f g 5s. 1951
P le a s Val Coal l s t g s f 5s. 1928
T e n n Coal gen 5 s ............... 1951
l ’ en n D iv 1st g 6s ........a l9 1 7
B irm D iv 1st c o n s o l 6 s . .1 9 1 7
Cali C M C o 1st g u g 68.1922
D e B a r C & I Co g u g 6s. 1910
Y a lr o n Coal A C o 1st g 5 s . 1949

91

New York Bond Record— Continued—Page 3

J an . 12 1907. j

Q -F
M-S
A -0
M-S
J -J
A -O
FA

....

New York Bond KeCOrd— Concluded—Page 4

92
iiO iM Jrj
N. Y. STOCK E X C H A N G E
W e e k E ndin g J a n 11

P n ce
J<Yidav
J a n 11

P en n l i l t —(C o n tin u e d )
P ln la B a l< fcW la t g 4 s . .1 9 4 3 M.N
Su n * L e w is 1 st g 4 s . ..1 9 3 6 J - J
U N J K K & Can ge n 4a. 1944 M-S
P en sa cola & A t l See L & N ash
P e o & E a st See C C C & S t L
P ea «fe P e k U n 1 st g 6s ___ 1921 Q-F
2a g old 4 *2S...................... 61921 M-N
P e r e M a r q — Cli<fc W M 5s 1921 J -D
F lin t <fc P M g 6s ............... 1920 A-O
1 st c o n s o l g o l d o s ..........1939 M-N
P t H u ron D iv 1st g 58.1939 A -0
SagT u scfe H l s t g u g 4 s . 1931 F -A
P h il B & W See P e n n B B
P liila & R e a d in g con s 7 s . 1911 J .D
P in e G r e e t r e g gu ar t>s..,1932 J -D
P itts Cin & S t L S ee P en n Co
P it t s C lev e & T o l See B & O
P itts F t W <fc Oil See P en n Co
P itts J u n c 1st g old 6s ........1922 J - J
P i t t s * L E r ie 2d g 5 s . .. o l 9 2 S A - 0
P itts M c K e e s & Y See N Y Cen
P itts S h & L E 1st g 5 s . -.1 9 4 0 A -O
1st c o n s o l g old 5 s ............. 1943 J - J
P itts & W e st See B & O
P itts Y & A s h 1st c o n 5s.l9SW M-N
t » ea d in g C o g e n g 4 s ........1997 J -J
I lv R e g is t e r e d .................. „ 1 9 9 7 J -J
J e r s e y C en t c o ll g 4 s . ..1 9 5 1 A O
R en ssela er <& S ar See D & H
K icli & B a n See S ou th B y
K ich & M eclc See S ou th ern
R io O r W e s t See D en & R io Or
R io O r J u n e 1st g u g 5 s . —1939 J -D
R io g r S o 1 s t g o ld 4 s ..........1940 J - J
(Guaranteed........................ 1940 J - J
R o c h & P itts See B R <fc P
R om e W a t & O g < S eeN Y C en t
R u tlan d 1st c o n g 4 % s ___ 1941 J - J
O g & L Cham l s t g u 4s g.1948 J -J
R u t-C an ad 1 s t g u g 4 s . . . 1949 J -J
a g T u s &■ H See P e r e M arq
t J o & G r Isl 1st g 4 s . ..1 9 4 7 J -J
St L a w & A d ir o n 1st g o s . 1996 J -J
2d g old 6 s ............................1996 A -O
S t L & C a iro See M o b & Ohio
St L & Iro n M o u n t See M P
Bt L K C & N See W abash
8 t L M B r See T R R A o f S t L
St L o u is & S a n Fran cisco —
. G en era l g old 6s ................. 1931 J -J
G en era l g o ld 5 s ................. 1931 J - J
S t L <fc S F R R con s g 4 s .. ’ 96 J - J
S o u th w D iv 1 s t g 5 s . .1947 A -O
R e fu n d in g g 4 s .............1951 J - J
5-year g o ld n otes 4 Ha.. 1908 J -D
K C F t S <fc M c o n g 6s .. 1928 M-N
K C F t S <fe M R y r e f g 4s 1936 A-O
K C & M R & B 1st g u o s .1 9 2 9 A-O
S t L M & S o E a st g u 4 H igl909 J-D
St L ou is So See Illin o is C en t
S t L S W 1 s t g 4s bd c tfs .1 9 8 9 M-N
2d g 4s in c bond c t f s . .. p l 9 8 9 J - J
C on sol g o ld 4 s ................... 1932 J -D
G ra y ’ s P t T e r l s t g u g 5s 1947 J -D
St P a u l & D u l See N o r P a cific
8 t P a u l M & M an 2d 6 s . . .1909' A-O
1st c o n s o l g o ld 6s ............. 1933 J - J
R e g is te r e d .......................1933 J - J
R e d u c e d to g old 4 ^ 8 ..1 9 3 3 J -J
R e g is t e r e d ...................1933 J - J
D akota e x t g old 6s ..........1910 M-N
M on t e x t 1st g o ld 4 s ___ 1937 J-D
R e g is te r e d .......................1937 J -D
K M m n 1st d iv l s t g 5 s . . 1908 A -0
N o r D iv 1st g old 4 s ___ 1948 A -0
M in n U n ion 1st g 6s ___ 1922 J - J
M on t C 1 s t g u g 6 s ..........1937 J - J
R e g is t e r e d ......................1937 J - J
1st g u a r g old 5 s............1937 J - J
W i U & S I ’ 1st gold 5 s .. 1938 J-D
S t P & N o r P a c See N o r Pa c
S t P & S ’ x C ity /S’e e C S t P M & O
8 F e P re s & P h l s t g 5 s . . .1 9 4 2
S A & A P See S o P a c Co
S f f & N P 1 st sin k f g 5 s . 1919 J - J
S a v F & W e s t See A t l C oast L
S cio to V a l & N E See N o r & W
S eaboard A ir L in e g 4s ... 1 9 5 0 A-O
C oll tr r e fu n d g o s ..........1911 M-N
A tl-B irm 3 0 -y r ls t g 4 s .e l9 3 3 M-S
Car C en t 1st con g 4 s . ..1 9 4 9 J -J
F la C en & P e n 1st g 5 s . 1918 J - J
1 st lan d g r e x t g 5s . ..1 9 3 0 J -J
C on sol g o ld o s ............... 1943 J -J
G a & A la R y l s t c o n 5 s o l9 4 5 J - J
G a Car & N o l s t g u g 5 s 1929 J - J
Seab & R o a 1st 5 s ............... 1926 J - J
S h er S h r & So See M K & T
Sil Sp O ca & G See A t l C oast L
Sod B a y & So 1st g 5 s ........1924 J - J
So Car & G a See S ou th ern
So P a c Co— R R 1st r e f 4 s . 1955 J -J
G old 4s (C en t P a c c o ll)./c l9 4 9 J -D
R e g is t e r e d ................... * 1 9 4 9 J -D
A & N W 1st g u g 5 s___ 1941 J - J
C en t P a c 1st r e f g u g 4s 1949 F-A
R e g is t e r e d ...................... 1949 F-A
M o r t g u a r gold 3 *28..* 1 9 2 9 J -D
T h ro u g h S t L 1st g u 4s ’ 54 A -0
G al H a r & S A l s t g 6 s ..1 9 1 0 F-A
M e x & P a c l s t g 5 s ___ 1931 M-N
G ila V G < fcN I s t g u g 5 s . l 9 2 4 M-N
H o u s E * W T 1st g 5 8 .1 9 3 3 M-N
1 st g u a r 5s r e d ............1933 M-N
H & T O l s t g 5 s i n t g u . . 1937 J - J
C on sol g 6s in t g u a r ... 1912 A -O
G e n gold 4a in t g u a r . . 1921 A-O
W a c o & N W d iv 1st g 6s ’ 30 M-N

S

98 *4____

Week? s
R a n g e or
L a st Sale

R a n ge
Y ear
1906

Low
H ig h
107*2 O c t ’ 06

L ow H ig h
107*2 110*1

.........110

110*3 Sep ’ 04

113

123 *8 J a n ’ 05
10034 D e c ’ 05
109 A p r ’02
113 *2 N o v ’06
105 N o v ’06
106*2 Sep ’ 06

115 118
......... 109
1 0 3 % ........

112*2 118
105 110*2
106*2111*2

115*2 M a r’ 06
137 N o v ’ 9 7

1 07 *2.......
114% U 6

115*2 115*2

120 O ct ’ 01
107 *2 N o v ’06
120
98

107*2 107 *2

M a r’ 06
J ’l y ’ 97

118

116 M ay’ 05
98 *4
98 s4
100*2 J ’n e ’06
96
96% 96

108 % . . . .
98 V, Sale
96

109
76
89

97*8 102*,.
93*2 100*2
95% 101%

M a r’ 05
D e c ’05
Jan ’ 05

106*8 O ct ’ 05
98*2 J ’n e ’ 06
101*4 N o v ’ 01
90=4

95

98*2 100*2

91*2 N o v ’ 06
122 J a n ’06

30
122

126% D e c ’ 06
109=8 J a n ’ 07
93 J a n ’ O"
102*4 A u g ’ 05
82
82*2
98 N o v ’06
119 J a n ’ 07
82
82

125 128*2
109*2 114
92
95*2

1 3 2 ia .

123% .
10tto8 .
93
82% Sale
1 1 8 % ........
82 S a lt

.......... 94 *2 94*4
82
82
84
7 8 34 Sale
78*2

101

95
82
79

......

125
134*2

113 . . . .
115*2 . . . .

94
9 9 34
82*2 89
76
82
105*4
133
134
107%

109*2
137*2
134
112*2

io6% 1 1 1 ”

100 104*4
100% 100*4
100 “2 101%

124 M ay’ 05
133 O ct '0 6
136% M ay’ 06
116 A u g ’ 06
115*2 D e c ’06

133
136*4
116
115*2

106*2108*4 107*4 D e c ’ OC
110

94*2
122

91*4 88
95*4 98
120*8121
81
87 7s

105*2
’ 07
105% 106
130 >2.......... 133% N o v ’ 06
134 D e c ’ 06
ill
D e c ’ 06
107% 111
116*8 A p r ’ 01
106*2 N o v ’ 06
106*3 ...
100 103*2 100 D e o ’ 06
100*4 O ct ’ OH
100 *2 D e c ’ 06
117
130

120

136
136*4
119*2
115*2

107*4 112*2

O c t ’ 05

82
32%
8 2 34 Sale
fI 00
1003s 100%
88 ......... 92 O ct ’Oti
96*2 M a r’ 06
92*2100
1 0 3 3 < ............. 107*4 A u g ’ 06

__

80*4
99%
88
96*2
107*4

92
104*«
97
97
10934

110

111*2

1 0 2 3 4 .............

1 04 *2.........
1 0 7 * 2 .........
107 .........
1 0 5 * 4 .........

109 *a M a r’ 06
110 D e c ’ 06
110 J a n ’ 05
108 A u g ’ 06
102

04*2 Sale
8 8 * 2 ........ .
102*2 —
9 9 * 2 ..........
.......... 99*2
8 5 % ..........
95
36
105 .........
1 0 9 * 2.........
104 108
102*2...........
102*2 106*2
10934 Sale
111% 111%
9 3 % ...

108“ i i o "

J a n ’ 03

94*2
9434
8B*2
8y*a
90 D e c ’ 06
109*2 ITeb’ 06
9 934 100
9 8 *8 M ay’ 06
85% J a n ’ 07
96 D e c ’ 06
*a J a n ’ 07
109 N o v ’ 06
106>4 J ’l y ’ 06
107*4 F e b ’ 05
104 A u g ’ OO
10934 109%
111 J a n ’ 07
9 3 34
94*4
116 D e c ’ 06

59
28

93*2 97%
88
96%
90
92
109*2 110
34 9 8 14 10234
98% 98 *s
S 534 89
95
...
99%
. . . 105
106
109 1 U 34
. . . 106
108 V

....

_

103*2 105*2
2 109 4» 112 Hi
110 U 11 5
13 93*4 99*4
116
. . . 116

BONDS
N. Y . STOCK E X C H A N G E
W e e k E nding J a n 11

[Vol. lxxxiv.

P r ic e
F r id a y
J a n 11

W eek's
R ange or
Last Kale

L’an ge
Y ea r
yo n

B id
A s k Low
11 la h
S ou th ern P a c Co— (C o n tin u e d )
M o r g a n ’ s La & T 1st 7 s .1918 A-O 1 2 3 * 8 ......... 127 Sep ’ 06
1 1 3 % ......... 116 N o v ’ 06
1st g o ld 6s ...................... 1920 J - J
101 % N o v ’ 06
N o o f C ai 1st g u g 6s ___ 1907 J -J
G uaran teed gold 5 s ___ 1938 A-O
113 J a u ’01
99 Au£;’ 06
O re & Cai 1st gu ar g 58.1927 J -J 100 .........
87 Kale
86*4
87
■S A & A P a ss 1st g u g 4 s . 1943 J -J
So P o f A r g u l s t g 6s .. .c l9 0 9 J - J 102*2 104. 106*2 D e c ’ 06
1 st g u a r g 6s ............... c l9 1 0 J - J 104 ........ 107 N o v ’OC
S o P a cific o f Cai—
111 A u g ’ 06
I s t g O s s e r ie s E & F ...1 9 1 2 A -0 108 .
114*2 D e c ’ 04
1st g o ld 6s ...................... 1912 A -0 1 1 1 78.
1st c o n g u a r g 5 s ......... 1937 M-N 118*2 .
119 J a n ’ 06
S ta m p e d ........... 1905-1937 M-N
108% j ’ly ’05
S P a c o f N M e x 1 st g 6s . . 1911 J -J 1 0 3 % ........ 103% 103%
S o P a c Coast 1st gu 4s g . 1937 J - J
T e x & N O S a b D iv ls t g 6 s .l9 1 2 M-S - - - - - - i'08* 111 *4 J an ’ 06
C on g o ld 5 s .....................1943 J - J
104 Sep ’ 06
S o u th e rn —1st c o n g 5 s ___ 1994 J -J i i a v l Sale 113*4 H 3 34
R e g is te r e d ...................... 1994 J - J
114 N o v ’ 06
M o b & O hio c o ll tr g 4 s . . 1938 M-S
93*^ fciaio
93*8
93 *■
M em D iv 1st g 4 * a -5 s... 1996 J -J 1 1 5 * 2........ 115*2 116
93 *2........
S t L o u is d iv 1st g 4 s ___ 1951 J -J
94*4
94*,
A la C en R 1st g 6 s ..........1918 J - J 1 1 1 *8 . . . .
113 J a n ’ 06
93 ........
A t l & D a n v 1s t g 4 s ........1948 J - J
96 J ’ ue’ 06
2d 4 s ................................. 1948 J -J
92 J ’ n e ’ 06
93
A t i & Y ad 1st g g u a r 48.1949 A -0
C ol & G re e n v 1 st 6s ........1916 J -J
116 \ M ay’ 05
E T V a & G a D iv g 5 s . .1 9 3 0 J - J 1 1 2 j4 . . . .
113 J a n ’ 07
C on 1st g o ld 5 s............. 1956 M-N 116*2117
116
116
E T e n re o r lien g 5 s ........1938 M-S 113 . . . .
112 O ct ’ 06
68 __
G a M id la n d 1 s t 3 s ........... 1946 A-O
72 *4 A u g ’OO
G a P a c R y 1st g 6s ..........1922 J -J 1 1 7 * 2 . . . .
117% J a n ’ 07
K n o x & O hio 1st g 6 s . ..1 9 2 5 J - J r1 1 7 7( , _____ 122% A p r ’ 06
R ic h & D a n c o n g 6s ___ 1915 J -J 1 U S4 112*2 111*2 J a n ’ 07
D e b 5s stam ped..............1927 A -0 1 0 9 % ......... 11234 Jan ’06
87 ...
98 F e b ’05
R ic h & M e e k 1st g 4 s . ..1 9 4 8 M-N
So Car & G a 1st g 5 s ___ 1919 M-N 106 . .
106 D e c ’ 06
112 O c t ’ 06
V ir g in ia M id ser C 6 s . ..1 9 1 6 M-S 1 1 2 * 2 ..
108*2 D e c ’ Ob
Se rie s D 4 -5 s ................. 1921 M-S 108 ...
113 D e c ’Oo
S e rie s E 5 s ...................... 1926 M-S 1 0 9 * 4 ...
111 *2 D e c ’ 06
G e n e ra l 5 s ...................... 1936 M-N 1 1 0 3a ...
109 *2 M ay’ 06
G u a r stam ped............1936 M-N 1 1 0 34 ...
9 4 34 ...
94% D e c ’ 06
W O & W 1st c y g u 4 s . .1 9 2 4 F-A
112*1 D e c ’06
W e s t N C 1 s t c o n g 6 s ..1 9 1 4 J - J
110*4 . ..
S & N A ia See L & N
117 J ’ l y ’ 00
S p o k F a lls <fc N o r 1st g 6 s. 1939 J . j
100 N o v ’ 04
S tat I s l R y 1 s t g u g 4 *28..1 9 4 3 J-D
S y r a B m g & N Y S eeD L & W
109 M ay’ 06
'e r A o f S t L 1st g 4 *28..1 9 3 9 A -O 108
1
117
117
. 1st c o n g o ld 5 s ___ 1894-1944 F -A 117
94
G e n r e fu n d s I g 4 s ..........1953 J - J
93*2 94
111 D e c ’ 06
S t L M B g e T e r g u g 5 s . 1930 A -O
T e x & N O See S o P a c Co
8
T e x & P a c 1st g o ld 5 s ........2000 J -D 1 1 6 % 1 1 7
116*2 117
92 N o v ’ 06
2d g o ld in c 5 s ..................g2000 M ar .......... 96
L a D iv B L 1st g 5 s ........1931 J - J 1 0 7 * 2 ......... 110 M a r’06 ....
106 *2 N o v ’04
W M in W <fc N W 1st g u 5s ’ 30 F -A
115 D e c ’ uo --T o l & O C 1st g 5 s . .. ., ____ 1935 J - J
111 M ay’04
W e s te rn D iv 1st g 5 s . ..1 9 3 5 A -O .........110
G e n e ra l g o ld 5 s ................. 1935 J -D 105 Sale 102*2 102*2
1
K a n & M 1st g u g 4 s ___ 1990
96*2 D e c ’ 06
96
97
T o l P & W 1st g o ld 4 s . ...1 9 1 7
.......... 89% 90 D e c ’ 06
T o l S t L & W p r lie n g 3 * 2 S .1 9 2 5 j . j
87 *2 " 2
87 ......... 87 *2
5 0-y ear g o ld 4 s ................. 1950 A -0
6
81
8*
82 Sale
T o r H a m & B u ff l s t g 4s.ft.1940 J -D
94 ......... 95 D e c ’06
I r is t e r < & D e l ls t c o n g 5 s 1928 J -D 1 0 8 34 112
112 D e c ’ 06
U
1st r e fu n d g 4 s ........... 1952 A -O ......... 93
93 Sep ’ 06
U n P a c R R & 1 g r g 4 s __ 1947 J - J
12S
10 i % Sale 101% 10“
R e g is te r e d .......................1947 J - J
101 ....... 1 0234 D e c ’ 06
O re R y <fe N a v c o n g 4 s . 1946 J -D
98 ......... 98*2
98*2 * " i
O re S h o rt L in e 1s t g 6s . . 1922 F -A *1 2 3 * 2 ......... 123
4
126
1s t c o n s o l g 5 s ............... 1946 J - J 113 ......... 112*4 112%
G u a r r e fu n d 4 s ............. 1929 J -D
94
94% 99
34 Sale
R e g is t e r e d __________ 1929 J -D
94*4 O ct ’ 06
U ta h & N o r 1st 7 s ..........1908 J - J
105 A u g ’ OO
101*2 .
G o ld 5 s ..............................1926 J - J
110 J ’ n e’ 06 __
106*2.
U ni N J R R & C Co See P a R R
U tah C e n tra l See R io G r W es
U tah <fc N o r t h See U n P a cific
U tica & B la c k R See N Y Cent
an d alia c o n s o l g 4 s ___ 1955 F-A
102% F e b ’ 06
98 Sep ’ 06
e ra C ruz & p i s t g u 4 *2s l 934 J - J
V e r V a l I n d & W See M o P
V ir g in ia M id See South. R y
V a & S o u th w ’ t 1st g u 5 s .2003 J -J 111*2 Sale 111
111*2
a ba sh 1st g o ld 5 s ........ 1939 M-N 113*2 114*2 113*2 113*2
2 d g o ld 5 s ...................1939 F-A 105*4 Sale 105*4 105*2
95 N o v ’06
D e b e n tu re series A ........1939 J - J
85 ........
C e rtifica te s o f d e p o s it ___
75*4
76*2
S e rie s B ............................1939 J - j
76 Sale
75 J a n ’ 07
C ertificates o f d e p o sit___
74
76
1s t lie n e q u ip s f d g 5 s . .1921 M-S 100 ........ . 101- D e c ’ 06
1st lie n 50 y r g te rm 4 s . 1954 J-J
90 ......... 93 M a r’ OU
D e t & Ch E x t 1st g 5 s ..1941 J - J
1 0 7 * a ......... 1 1 1*2 N o v ’ 06
97 N o v ’ 04
D e s M o in D iv 1st g 4 s .. 1939 J -J
Om D iv 1st g 3*28............1941 A -O
85 *2 M ay’06
93
95*2 93 L e c ’ 06
T o l & C h D iv 1st g 4 s . .. 1941 M -S
102
S t O bas B r id g e 1 s t g 6S.1908 A -O 101 % ......... 1.02
W a b P itts T e r m 1st g 4 s . 1954 J-D
79*2
80
79*2 80
2d g o ld 4 s ............................1954 J-D
S I *4 Bale
3 0 34
32 V
W a r r e n See D ei L a c & W e s t
W a sh C e n t See N o r P a c
W ash O & W See S ou th ern
W e s t M a ry la n d 1 s t g 4 s . ..1 9 5 2 A-O
8134
82
81*4 Sale
65
68
G en & c o n v g 4 s ............. 1952 A -O
67
68
W e s t N Y' <fc P a 1 s t g 5 s ..1 9 3 7 J-J 113*2115*4 116*2 D e c ’ 06
G e n g o ld 3 -4 s.....................1943 A -0 ......... 93*! 92% N o v ’ 06
In c o m e 5 s ......................e t l9 4 3 N ov
30 M ay’ 06
W e s t N o Car See Sou th R y
W V a C en t & P 1st g 0 s . . 1911 J - J
106*2 A i y ’ O-)
W h e e l’ g & L E 1st g 5 s . ..1 9 2 6 A-O 110% " " " 109% D e c ’ 06
W h e e l D iv 1st g o ld 5 s .. 1928 J -J 1 0 7 34 .......... 110 D e c ’ 06
E x te n & Im p g o ld 5 s . ..1 9 3 0 F-A 110 ......... 111*2 A u g ’ 05
R R 1st c o n s o l 4 s ...............1949 M-S .......... 88
8 6 % N o v ’ 06
20-year e q u ip s f 5 s ...1 9 2 2 J -J
102*4 D e c ’ 05
W ilk e s & E a st See E r ie
WU & S io u x F See S t P M <fe M
VVis C e n t 50-yr 1st ge n 4 s . 1949
8734
8 8 % 31
8 8 % Sale

1

_

!:?

116 118
101% 101=,
' 99”
85*2
10434
106*8

5b'i'*i
90
106*1
107

111

11334

il9 " il9 “
i o i ' ^ "i.0534
111*4
L04
115
116
92*2
115
94*2
113
96
92

111*4
110
119^
117*1.
98*2
119
9 9 34
113
96%
92

114*4
116
112
72*4
119*2
122*4
112%
1 1234

116
119*4
116*2
72*4
123
122*2
116
11234

1 0 5 " io8*a
112 112
107 108*2
ii* f% i i T * i
109*2 114*2
94*2 94%
111 % 114 *8

109
119
94%
110*4

112
120%
100*4
111

116 124
85 102
1 0834 110
i i i * i i i5 * 2
106
95%
89*2
88*4
7y%
95
110
93
102%
101*4
98*2
120
116
93*4
94%
105
110

109
99*2
933*
90
84*2
95
113*4
94*2
1 0 6 34
106%
102
126
119
97%
94%
105%
110

V

102% 105
98
98

W

108
112*4
104
87*2

114*2
119
109
98

72*2
743*
100
93
108

86*4
75%
101
93
111*2
85*2
95»a
90*3
41*4

8 2% 8 8 %
68
76%
114 118
92% 97%
30
31
106*2 109
109 % 114
110 112*2
93*2

89

95

1Y11HCELL,A N EO U S ISON U S —C o n c l u d e d .
J-J
A-O
F -A
A -O
F-A
J.J
J-J
A -O
A-O
M-N
J -J
A -O
M-N
J -J
M-N
M-N
A-O
J -J

91*2 92
98 *2 Sale
87 *3 Sale
107 H. Salo
90*2 Sale
99 M 101
102 Saie
81
83
70
73
95 % 97*4
1 0 5 % .........
93 .........
98% s a lt
9 8 % .........
95 *2 Sale

96 A u g ’ 06
98
9 8 34 137
6
76*2
76*2
34
87*2
88
107
107% 18
90 Ha
91
il
100 Jan ’ 07
97*2 O ct ’ 05
101% 102
3>
82
82*2
8
7234 N o v ’ 06
97 D e c ’ 06
105 D e c ’ 06
94
95
87
98
98% 360
9734
98% 27
98*2
98% 1 1
95%
95 ^ 2 :

* N o p r ice F rid ay; la te s t b id a nd ask e d th is w e e k ,




96
96
96*2 102%
76*2 8 3 \
81
90
106% 110%
92 100
101 104%

M is c e l la n e o u s
A d a m s E x c o l tr g 4 s .........194S
A m D k & Im p 5s See C e n t N J
A m SS Co o f W V a g 5 s -----1920
B ’k l’ n F e rry Co 1 st c o n s g 5s ’ 48
C h ic J c & S t Y ard C o l g 5 s .l9 1 5
D e tM & M Id g r in c o m e s .. 1911
H o b o k e n L<fc I g o ld 5 s . ..1 9 1 0
M ad Sq G arden 1st g os.,191*J
M an B c h H & L ge n g 4 s .. 1940
N e w p N e S h ip & D D o s d l9 9 0
N Y D o ck 5 0-y r 1st g 4 s ..1951
P r o v id e n t L oa n S o c 4*28.1921
St J o s e p h S tk Y d s l s t 4 % s .l 9 3 0
St L T e r C u p p le s S ta t’ n * P rop
C o l s t g 4% s 5-20 y e a r ..19 1 7
S Y u b a W a t C o c o n g 6 s ..1 9 2 3
Sp V a l W a t W o r k s 1st 6 s . 1906
U S R ed & R e f 1st s f g 6 s . 1931

I 0 1 * 2 l0 8 34
80
93*2
72% 77
92*4 98
105 109*2
90% 99*2
9 5 34 101 *(.
95% 1 0 0 14
97 101 >c
97
98%
a D u e Jan b D u e F e b

ci D u e A p r

£ D u e M ay

M-S
M-N
F-A
J -J
A-O
M-N
M-N
M-N
J -J
F-A
M -S
J -J

102 *u Sale

102 *a

1 0 3 * 2 ........

10034 J ’ n e ’ 02
41 O c t ’06
108 J ’ n e ’ 05
70 S ep ’ 06

‘ 68’

50
"y'4" " o s '

J-D
J -J
M-S

_

g D u e J ’ ne

95

Sale

h D u e J ’ly

102%

12 102

104%
CO

U a n u t n c t n i'in s Sc I n d u s tr ia l
B eth S te e l 1st e x t s f 5 s .. 1926
C en t L ea th er 20-year g 5s. 1925
C on sol T o b a c c o 50-yr g 4 s .lS 5 1
D is til S e c C or c o n v 1st g 5 s . ’ 27
i n t P a p er C o 1st c o n g 6 s .1918
C on sol c o n v s f g 5 s ........1935
I n t St P u m p 10-yr c o n v . 6s ’ 13
K n ic k e r Ic e (C h ic) 1st g 5 s . ’ 28
L a ck a w S teel 1st g 5 s ___ 1923
N a t S tarch M fg C o l s t g 6s 1920
N a t S ta rch C o s r d eb 5 s ..1 9 2 5
R e p u b l& S ls t& c o lt r 5 s .l9 3 4
U a L eath Co 8 td e b g 6 s . .l 9 1 3
U S R e a lty & I co n v d eb g 5s ’ 24
U S Steel C orp— ( c o u p .(Z1963
S f 10-60 y r 5 s . ( r e g . .d l 9 6 3
V a-C ar Chem c o l tr 5s g .,1 9 1 2
W e s tin g h o u s e E & M s f S s ’ 31

00%

78

10

93
99

9*8
99

2

95

3 08

F e b ’ 02

93%
94
99 M ay’ 06
100 *a S e p ’ 05
112 J ’ l y ’ 04
113% J’ l y ’00
95
95
p Due N or

sO D tion Sale

OHICAG-O STOCK £XCHA¥GE-Stock Record-Daily, Weekly and Yearly
A' TO O K Hr- H IG H &S T a n d l o w e s t s a l e p r i c e s
S a tu rd a y
Jan 5

*180
*5
*15%
44
*5
‘ 18
*61
86
26%
69%
40
*25
*62
*90

T itesd ay
Jan 8

M on d a y
Jan 7

180

*160

5%
17

ISO

*5
*15%

5%
17

5*2

6*2

'1 6 0

45

19
61=»
86
26%
69*2
40
25%
65
95
* 3 2 34 33%
*9 7 * 4 100
30
*25

til
61
*853, 87^2
26% 27
*69
71
40
*35
25
25
*62 . . . .
*89
95
*323< 33%
‘ 97-4 i o ;j
*27
30

W ednesday
Jan 9

180

*1

1%

*1

64
144
50

144

*6

1%
6%

150

115*2 115%
*107 % m s * 10734 108
122 124 >2 122% 123
4 8 14
48% 48*2 *48

*1
*6

144

5%
17
43
5 *2

...

1%
6%

5%
17

...... ......

130
128%
........
38
108
........

1

1

6

6

145 % 148

1 1 5 % 1 1 5 % 115
10 7 a4 10?34 107 %
*122%
123% 124
4734
*4734 48%

116
10734
124
48%

81
81*4
116% 116%
*83
86
116 118

813s 83
116% 117*4
*84
84
117 117

*50
58
93% 9334
93*4 9334
112*4 11234
* 1 3 6 136
136 137
101 101 % 102 102
*1*0*1*** i*0 2 "
1 *8
1%
1%
1*4
7=8
8 34
8%
8*2
7=8
7 *4
*28
29
‘ 28
29
*28
29

*55
58
93% 9 3 34
1 1 1 % 111=8

80
117
*83
*116

82
117
86
117

81*2
117
*83
*116

82
1173.,
86
117

*
08
93% 9 3 34
112 11234

llli* 112%

1 % 1 *4

F r id a y
J a n 11

140
*5
*15%

L a st S a le
L a s t S a l<
42
43
534
534
5%
*5*4
19% 19*4 *18% 19
60% 61
*60
61
62
60
8 5 % 87% *85% 87 k
86
86
2734 2 7 34 *27
28% *27
28*2
70
71
*70
*70% 71
71
30
40
*35
40
40
*35
25
26% *25
*25
26
26
62
65
*62
L a s t S a le
65
89
90
90
90
*8 J
3234 33 *2 * 3 2 34 33% L a s t S a le97 100
*97% 99
L a s t S a le
26% 26% *25
*25
29
29
*5
15%
43
5%

6
6
6
6
6
6
5434 5 4 ^
64% 54*4
54% 54*5
'1 2 9 . . . .
*129
129 *9 129 *2 129 129
*126%
*126% 123% *126 % 128% '1 2 6 % 1 28
79
80
79 % 79 h
109 109
*30 ........
*30 . . . .
'3 1
*30 . . .
38
*37
38
*37
*37
38% *37
* ............. 110
' .......... 110
*107
>107 108
53% . 54
*53
60*8 50%
*50 -------

*6
144
49

T h u r sd a y
J a n 10

1%
734

*28

IS
7*e

29

5
16
42%
*5%
*17%
62
*85%
*27
*70
*35
*25
6 4 *4
89
33%
97
27

R a ilr o a d s
O ct ’ 06 C h ic C ity R y ............... 100
C h ic P a ss B y ............... .
D e c ’ 06 C h ic & Oak; P a r k ........100
D e c ’ 06
D o p r e f .................100
42*2 C h ica g o S u b w a y ........100
53, C h ic U n io n T r a c t ___ 100
D o p r e f.................100
18%
62% K ans C ity K y & L t ..1 0 0
87*2
D o p r e f.................100
27 *s M e tro p o i W S E le v ._ 1 0 0
71
D o p r e f .................100
40
N o rth C h ic S t r e e t ___ 100
25 >2 N orth-w estern E l e v .,1 0 0
D e c ’ 06
D o p r e f.................100
90 S o u th Side E l e v ......... 100
D e c ’06 S tr e e ta W S table C L 100
D e c ’ 06
D o p r e f .................100
27
W e s t C lu e S t r e e t ........100

S a le
<Salf
S a le
S a le
S a le
S a le
S a le
S a le

o 78
36*2
29*4

10
1S \
4
S5%
7Ta

M a r’06
M ar’ 06
J ’n e ’06
N o v ’06
J a n ’ 07
N o v ’ 06
F e b ’ 06
J ’ n e ’ 06

Chicago Bond Record
«O N O »
C H IC A G O S T O C K K X C H ’ G K
W k e k E n ding J a n 11

P r ic e
P r id a y
J a n 11

'
W eek’ s
' R a n g e or
j L a st S a le

.....

Sep 28 200

Jan

Low est

5 180

5 D e c3 1
7 34 Jan 17
15 D e c 6 2 8 % Jan 2
670 3 9 34 J ’ ly 13 5 « M a y l7
250
4 J ’l y IV 13% K eb20
150 1 2 % May 18 4 6% M a r l2
478, 54 *2 Jan 2 6 S *oF eb 9
115 8 -> O ct 31 9 3% F e b 8
350 25 O ct 30 30 J ’ n e 8
47 65 ’2 O ct 23 72 % N o v ‘/ 3
50 25 M a r l4 85 M ar 12
100 23% J ’ ly 24 2 8 *2 F e b 2
60 M ay23 6 8 % M ar 1
*i*80 8 9% A p r 30 99 J ’ n e 9
27 M a y l8 3 5 34 N ov 12
97 D e c 2 “ 102 J ’ n e l5
23 A p r 10 60 F e b 19
625
6 J’ ne28
406 51 J’ l y 13
145 115 F e b 9
128 *2 D e c 3
*4*8*5 54 Jan 13
80 101 J a n 11
17 F e b 28
36 J*an 23
106 l>ot 12
55 M ay 2 6
16838 M a y l8
16 F e b 13
10
1 M ar 6
50
6 N ovi 4
70 136 J ’ly 31
250 4 8 % D e c 24
24 101 A p r 2 7
98 103 M ay 3
297 118 J ’ n e 6
87 4 1 % Sep I

11% J an 20
72 J a n 25
130 N ov
136 J an 17
81 N o v 5
112 N o v2 3
31% D ec 19
40 Feb 6
113% J ’n e 2
64 F eb 6
175 M ay31
16% F e b 23
1 M ar 6
7 Jan 16
165 F e b 1C
63 F e b 9
139 Jan 15
118 J a n 9
147 F e b 7
7 1 34 J a n 23

7 9 % F e b 23

2,720
496
75
25
30

888
3,695
97

210
1,891
2,135

M in in g
A d v e n tu r e C o n .......... 25
A l l o u e z .......... ............... 25
B in g h a m C o n M in in g 50
B la c k M o u n ta in .................
D a ly -W e s t ..................... 20
H u b b a r d -E U io t t ...............
N o B u t t e ........................ 15
S h a n n o n ........................ 10

H igh est

Jan 205

8 34 D e c 14 % A p r
60 Jan 73% A p r
76 Jan 110 D e c
125 F e b 134 D e c
38 Jan 5934 Sep
9 8 % Jan 105% M ar

35 O ct
105 M ar
50 J ’ ly
* 4 8 % Feb
10 Jan
34 J ’ ne
6 J ’ ne
153 J an
32 Jan
125 M ay
95 A p r
134% F e b
55 J ’ ne
11 F e b
F e b 28 63 F e b

80

O ct

4 J ’ ly
7 34 J a n
16 J ’ly 28 D ec
40 O ct 8 7 34 A u g
6 % J ’ ne 13% F e b
26 J ’ ly 51 F eb
30 Jan 60 Sep
82% Jan 9 ? s Sep
20 Jan 2b % O ct
59% Jan 73% Sep
55 J ’ ly 99 F eb
21 May 26 D ec
60 M ar 68 O ct
90 % May 100 A u g
27 A u g 30 Sep
37 D e c 103% M ar
40 J ’ne 72 F e b

40
Jan
112 A u g
70
O ct
150 M ar
10
Jan
1
Jen
7
Jan
172
F eb
58% D ec
143 % F e b
118
D ec
145 A u g
67 N ov
42 N o v
75
O ct

46 M ay22 48 Sep 25 44% M ar 48 % A u g
134 M ay29
2% F eo 3
2 *4 O ct
2 Jan
21 J ’ ne29 23 M a r 7 19 Sep 23 O ct
62 M ay 2 79*2 D e c 17 5 2 34 A u g 67*4 D ec
113% J a n 4 119 O ct 24 11034 A u g 120% M ar
78 J a n 5 95 M a r 3 41 Jan 80% D e c
112 D e o 14 122% M ar 9 110 Jan 120 J ’ ne
5 A pr
5*4 M ay
9 9 ^ May 11034 A p r
8 8 % I ’l y lO 93% M a y l7
5 0 A u g 2 6 3% D e c 6
92% N o v 3 99 Sep 13
101% J a n 17 119 % Sep 27 101 D e c 114 Jan
115 M a y l6 152 *2 J a n 5 46 Jan 165 D e c
9 9% D e c 6 10634 F e b 15 b6 % Jan 109% N o v
1 3g J ’ly
34 D e c 21
2 34 J a n 12
2% A p r
8 A u g 16 D e c
5% D e c 28 17% Jan 20
23 F e b 41 A u g
28 D e c 26 42 M ar27
o 34 M ar 7
3 6% M a r 7
2 9 34 J ’ n e l 6
734 J ’ ly 14
14% M ar 7
3 % J ’ly 26
85*4 F e b 23
6 F e b 24

6 34 F e b 26
3 6% M ar 7
4 434 F e b 2 6
14% M ar29
20=8 N o v 5
43s O ct 2
85% F e b 23
7% J ’nelO

Chicago Banks and Trust Companies
R a n ge
fo r y e a r
1906

NAM E

A s k Low
H ig h
Low H ig h B a n k e rs N a t io n a l ........
C alum et N a tio n a l...
9 9 % _____ j 99% M ay’ 06
99% 1 0 0 34 C h ica g o C it y .............
1013s i o l% S l 0 1 3,j J a n ’ 07
10138 103% C om m ercia l N a t io n a l..
C o n tin e n ta l N a t io n a l..
1101 M a r’06
L01 101
C ook C o S tate S a v in g s
103 A p r ’ 04 [
C orn E x c h a u g e N a t ..
57 D e c ’ 06
55
57
D re x e l S ta te ...................
101
100% 104
100% 10334 D ro v e rs D ep N a tion a l
100 Sale 101
101
9 6 34 J a n ’ 06,.
100
9 6 34 9 6 34 E n g le w o o d s t a t e .........
F e d e ra l N a t io n a l...
98
F irst N a t io n a l...............
87
87 F e b ’ 0 6 ___ 87
F ir s t N a t E n g le w o o d .
F orem an B r o s B ’ k ’ g Co
81 D e c ’ 06
75
78
79 .Nov’ 04
F o r t D e a rb o rn N at.
80 A p r ’ 04
H a m ilto n N a t io n a l___
1 0 2 J4 J a n ’ 07
H ib e r n ia n B ’k ’ g A s s ’ n
103
89% 90
95
K a sp a r S tate B a n k ___
87
90 D e c ’ 06
98
98
11 9 7 34 100*4 M o n ro e N a t io n a l.........
98
M u tu a l B a n k .................
99*4 N o v ’ 06
99 100
92% Sale
9 0 34
93 38 30 95 100
N at B a n k o f B e p u b lic .
N a tio n a l L iv e S t o c k ...
16 M ay’ Oa
90*4 9 0 3i 90
N o rth S ide S ta te S a v ..
90
4 90% 95
84% Sale
O akland N a tio n a l..........
84%
85
4 84
89
P ra irie N a tio n a l...........
90
9 0 D e c ’ 06
90
P ra irie S ta te ...................
90
90
P u llm a n L oa n & S a v ..
79
79 A u g ’ 06
79
..........
*7*6“
77 D e c ’ 06
92% R a ilw a y E x c h a n g e ___
77
90% Sale
9 0%
90*2 oO 8 9 34 9 4 34 S ou th C h ica g o S a v in g s
92
92 J a n ’ 07
89 100*4 S tate B a n k o f C h ica g o .
100
100% M ar’ 06
100% 100% S to c k Y a rd s S a v in g s ..
97
97 D e c ’ 06
99% U n io n B a n k of C h ica go
97
98
9V* O ct ’ 06
U n io n S t o c k Y d s Stauj
99 100
99% ......... 9 9 % Sen ’ 06
99% 100
A m e r T r u s t & S a v g s ..
118 N o v ’ 06
C en tral T r u s t Co o f 111
118 120
102% Sale 102 % 102 %
1 101% 105% C h ica g o S a v B k & T r . .
104 \ Sale 104% 104*4 13 104% 108
C o lo n ia l T r u s t & S a v ..
103% 105% D ro v e r s T r u s t & S a v ..
102 ......... 103% D e c ’ 06
103% F eb ’06'
103% 103% F ir s t T r u s t & S a v in g s
100
87 100% 105% Illin o is T r u s t & S a v ..
100 Salt> 100
102 J a n ’ 07j 2 101 % 103:,i K e n w o o d T r & S a v in g s
102
100 105% L a k e V ie w T r & S a v ..
100 N o v ’ OOj
100
114 N o v ’04t
M e rch a n ts ’ L ’ n & T r Co
65
*70 "7*7" 77 D e c ’ ( '6|
77*2 M e tr o p o lita n T r & Sav
72% 100*4 N o rth e r n T r u s t C o B k
»95
o D e c ’ 06
95
6 8 % s e p ’ 05'
P e o p le s T r u s t & S a v ..
..........
60
85
72 % D e c ’ 06
R o y a l T r u s t C o .............
84 34 S to c k m e n ’ s T r Jfc S a v m
7o *
72% 23 55
85
$87
95*2 U n io n T r u s t C o .............
8 7 D e c ’ 06)
96% J a n ’ 06 . .. . 96% 96*2 W e s te rn T r u s t & S a v .
W S id e T r & S a v B k ..
N n i i ', - A corn ed in te re s t muS|t bO;added t o all, C h ic a g o b ojn
d p r ice
i c e ss.
W o o d la w n T r & S a v B k
nd

A m e r B is c u it 6 s ................. 1910 F -A
A m e r S tra w b oa rd l s t 6 s . .1 9 1 1 J - J
Cass A v e & F G (S t L ) 5S.1912 J - J
C h ic B oa rd o f T r a d e 4 s ...1 9 2 7 J -D
C h ic C on sol B r & M l t 6s ........... J - J
C liic C on sol T r a c 4 % s ........1939 J -D
C h ic E d is o u d e b e n tO s ___ 1913 J-J
1 st g o ld 5 s .......................A 1926 A - 0
C h ic A u d ito r iu m 1st o s . ..1 9 2 9 F -A
C h ic D o ck C o l s t 4 s ........... 1929 A -O
C h ic N o S hore E le c 6s ___ 1912 A -0
C h ic & M il E le c B y 5 s ___ 1919 J - J
C h ic P n e u m T o o l 1 s t 5s .a l9 2 1 J - J
C lue B o c k I & P a c B B 4 s . 2002 M-N
C oila t T r u s t c 5 s ............. 1913 -M-S
C om m on w ealth E le c t 5s.£>1943 M-S
Illin o is T u n n e l 5 s ............. 192 8 J -D
K a n s C ity B y & L t C o o s . 1913 M-N
K m c k e r b c k e r I c e 1st 5 s . 1928 A - 0
L u ke s t r e e t E l 1st 5 s ........1928 J - J
In c o m e 5 s .......................... 1925 F e b
M etr W S id e E l 1 st 4 s . . ..1 9 3 8 F A
E x te n s io n g 4 s ............. ..1 9 3 8 J - J
N o rth O hio tit 1st 5 s ..........1909 J - J
1 s t 5 s ................................... 1916 J -J
R e fu n d in g g 4 % s ............1931 A -0
N o C h ic C ity B y 4%B ...1 9 2 7 M-N
N o rth W e s t’ ll E l 1 s t 4 s . ..1 9 1 1 -M-S
O gden G as 6s ...................... 1945 M-N
P e a rs o n s -T a ft 5 s .................1916 J -D
4 ’4 0 s ......................................... . M-S
4-60s Series E .......................... M-N
4-80s S eries F ............................ m -N
P e o p le 's G as L & C 1st 6s. 1943 A -0
R e fu n d in g g 5 s ............... 1947 m -S
C h ic G as L t & C 1st 5 s . .1 9 3 7 J - J
C o n s u m e rs ’ G as 1st o s . .1 9 3 6 J -D
M u tu al F u e l G as 1st 5 s. 1947 M-N
S ou th Side E le v 4 *28..........1924 J - J
S w ift & Co 1st g 5 s ............1914 J-J
U n ion E l (L o o p ) 5 s ........... 1945 A -O
U n io n P a cific o o n v 4 s ----- 1911 M-N
U n ite d B o x B oa rd 6 s ..........................
W e s t C h ic S t 1 st 5 s ........... 1928 M-N
T u n n e l 1 st 5 s .................... 1909 F-A
D e b e n t 6s .......................... 1914 J-D
C on s ol g 5 s ........................ 1936 M-N
"West D iv C ity B y 4 % s .. 1 9 3 2 1J - J
W e s t’ rn s t o n e Co 5 s ........19 0 9 iA -0

R a n ge tor P reviou s
Y e a r (1 9 0 5 )

H ig h es t

140

M is c e l la n e o u s
*5%
6
6
A m e r ic a n C a n ............. 100
54
54
54% 543*
D o p r e f . ...1 0 0
130 130
129
A m e r R a d ia to r .......... 100
L a s t S a l e 228% Dec*’ 0*6
D o p r e f .................100
78% 79
79
78
A m e r S ln p o ld g ............100
108 110
109
109
D o p r e f.. .. ______ 100
L a st S a le 30
J an ’ 07 A m e r S tr a w B o a r d ..........
L a s t S a t e 38
D e c ’ 06 B ooth (A ) & C o ......... 100
107 108
109
109
D o p r e f .................100
*53
56
55
*52%
Cal & C lue C anal & D 100
L a s t S a l e 175
J£ay’O0 C en tral T r u s t B a n k -.lO O 1
L a s t S a l e 16
M a r’06 C h ica g o A u d it o r iu m ........
*1
1 % *1
1% C h ic B r e w ’ g <fc M a lt’ g ___
*6
*6
6*2
6 *2
D o p r e f ........................
146 149
148
148*4 C h ic E d is o n .................100
50
50
*49
50 C h ic P n e u m a tic T o o l. 100
115% 115%
116 C h ic T e l e p h o n e ..........100
107*2 1 0 7 4 ib*7*% 107*2 C h ic T it le & T r u s t . .. 100
* 12234 124
123% 123 % D iam on d M a tc h ..........100
* 4 7 34 48%
47 % Illin o is B r ic k ............. 100
47 7(
L a s t S a l e 3Z%
N o v ’ 05 K n ic k e r b o c k e r I c e . . . 100
L a s t S a l e 80
F e b ’ 06
D o p r e f .................100
L a s t S a l e 17
J ’n e ’04 L o n d o n & C liic C o n tr ___
L a s t S a le 9
D e c ’ 04 M a n u fa ctu re rs ’ F u e l........
*46
50
46
46
M a so n ic T e m p l e ...............
L a s t S a le V s
J ’l y ’ 06 M il cfe C h ic B r e w ’ g ............
L a s t S a l e 32
Sep ’ 06
D o p r e f ........................
8 2 34 833j
82=8
83% N a tion a l B is c u it ........100
117 117
116% 117
D o p r e f ...... .......... 100
*83
86
84*4 N a tion a l C a r b o n ........ 100
84%
116 117
D o p r e f .................100
L a s t S a l e a 34
M ay’ 05 Pag© W o W ir e F e n c e ___
L a s t S a l e 99 %
J ’l y ’ 06 P e op le’ s G as L & C ’ kelOO
57
57
*57
53 S ears B o e b u c k c o m . 100
93% 9334
93 %
93%
Do
p r e f .................100
1 1 1 % 111 % 111 % 111 % Swift, & C o .....................100
135 139
135
135 T h e Q u a k e r O ats C o . 100
102 % 102 %
D o p r e f .................100
1%
1%
1 % U n it’ d B o s Bd<fc P ColOO
1 l4
734
7%
D
o p r e f .................100
„ o ?s8
?h
L a s t S a l e 2S%
D e c ’ 06 W e s te rn S t o n e ...........1 0 0
L a st
L a st
L a st
L a st
L a st
L a st
L a st
L a st

R a n g e lo r Y ea r
19 0 6

Sales
o1 the
W eek
Shares

STOCKS
C H IC A G O s t o c k ;
EXCH ANGE

Outstand­ S u rp lu s &
In
ing
P rofits t
S tockt
190 5

$2,000,000 $1,179 ,169
100,000
500 .000
fc2,0 00 ,000
4.000.000
50.000
3.000.000
200.000
6 00 ,000

200,000
500.000
8 .000 .000

100.000

500.000

1,000,000
5 00 .000

1 ,000,000

200.000
200,000
250.000
2 ,000,000

, 50.000

1 000,000
100.000

250.000
c500,000
300.000
250.000

200.000
1,000,000
250.000

200.000
200,000
3.000.000
2 .000.000
n 500,000
600,000
200,000
000,000
4 ,5 0 0 000
200 ,000
2 0 0 ,0 0 U
3.000.000
750.000
1,500,000

/J1,

200.000
5 00 .000
200 .000
1.000 .0 0 0

1 ,000,000
200 ,000
200 ,000

36 ,366
128 ,937
1,976 ,611
2,377 ,066
,982
4,195 ,804
27 ,21
325 ,704
29 ,804
72 ,213
G,733 ,649
135 ,603
642 ,324
318 ,185
175 ,435
1,086 ,815
86 388
20 ,139
77: 421
l,0b4! ,733
1,327 4 7 0
s; ,441
30, 365
66 ,379
119 ,323
213 587
3 ,545
58, 730
897! 637
147, 573
34, 436
43 391
2,374 525
949 ,154
n 86 307
534 ,995
83 ,235
1,533, 392
7,403 522
33 766
22 167
3,982 4 3 5
319, 124
1,723 236
50 ,609
514 ,336
8 ,673
825 465
283 ,751
18 ,553
2 2 762

In
19U6

Period

8
5

Q -J
J -J
J -J
Q-J
8
Q -J
6
Q-J
12
12
Q -J
6
6
Q -J
8
8
Q -J
3
Q -J
B eg an bu sin ess
12
1112
Q-J
10+10 Q-J
10
P r iv ate Ba uk
Q-J
6
6

10
12
8
6

,

,

D iv id e n d R ecord

10
12

io*

6

12+3

6

6
12+3

8
1138
8
8
B e g a n bu sin
5
4
8
8
N one
Began M ay 1,
N one
6
8
8
5%
7
5+ 5
6
12 + 4

D ec
Dec
Jan
Jan
Jan
Jan
J an
an
Jan
J an
out
Jan
Jan

’ 06. 2
’06, 6
’0 7 , 5
’0 7 , 3
’ 07, 2
’0 7 , 1%
’07, 3
’0 7 , 1%
’07, 2
’ 07, 1%
16. 1905
’0 7 , 3
’0 7 , 2%

Jan

’ 07, 1%

J-J Jan ’ 07, 2
Q-F N o v
Jan
Q -J J a n
Q -J J a n
Q-J J a n
Q -J J a n
Q -j
Q-J
ess
Q -J
Q -J

’ 06,
’ 07,
’07,
’ 07,
’ 07,
’ 07,

Jan
Jan
J u ly
Jan
D ec

1
4%
1%
3
1%
1%

’ 07, 2c
’ 07, 2
3, 1906
’ 07, 1%
’06, 1%

19<*
Q -J ,^an ’ 07, 1%
Q -J J a n ’ 07, 2
Q -J Jan ’ 07, 134

16

Jan
ja n

** *

6
12+4

O rga uized
12
12
6
6
8
8

L a st P a id
%

N ov
Q-J
Q -J
Q-J

Jan
Jan
18,
Jan
D ec
Jan

’07, 2%
’ 07, 1%
’07*,
*07,
1905.
’07,
>06,
’ 07,

3
1%
3
1%
2

*8
Q -F N o v * ’ 06," 2*"
**6*
I n c o r p o r a te d M arch, 1905
**6
B egan

6 + 1 Q-J J*an "’6*7*,'*i%
bu sin ese Sep 5, 1S05
6
Q-J Jan ’07, 1%

“ D ividen ds are paid Q -J, w ith e x tr a p a y m e n ts Q -F .
ra In c lu d e s sp e cia l d iv id e n d o f 3 0 % paid D o c. 18, 1906.
t N o v . 12, ’ 06 fo r N a tio n a l B a n k a
ov. 1 3 , ’ 06 fo r S tate in s titu tio n s
* Bid and ask ed p rice s ; n o sales w e re m ade on th is day.
t N o p r ic e F rid a y ; la te s t p r ice th is w eek .
a D ue D e c .
- D uo J une. c Capital in cre a se d J an . 1 1 9 0 7 fro m $ 3 5 0 ,0 0 0 , a casli d iv id e n d o f 30 p e r c e n t b e in g d e cla re d a n d to 1)3 ta k en as p a r t p a y m e n t fo r n e w s t o c k .
!> n e J u ly .
t O n o m illion d olla rs tra n sfe rre d in D e c , 1906 fro m su rp lu s a c c o u u t to ca p ita l, m a k in g la tter $2 ,0 0 0 ,0 0 0 .
m F o r m e r ly L iv e S to c k T r u s t *
b u v in g s B a n k , b u t nam e ch a n g e d in S e p t 190 6.—S ee V . i3 , p. 729. n C a pital and su rp lu s to be in crea sed.
T

i




BObTON STOCK EXGEiblG-8—Stook Record, Daily, Weekly and Yearly
iia r e 1 'r ic e s — N o t P e r C e n tu m P r i c e s
Sa r t r e ay
Ja n 5
1 0 5 4 1063c
*99 4 1 0 0 4
238 238*1
‘ 150 152
•230
•ltJl i e s '

M om m y
Jan 7

*300
‘ 30*6"
28 4 " i i \
'■>8*8 " I s \
7d
80
78

91

133 4 134
*105
"b’i ”

374 174
* 6 8 4 70
"2 6 4 274
190 190

1734 18
68 4 68 4
■ 26 4 27 *>
190 190 ‘

*199
*53
59
*57
......
*95 *9 7 "'
►100 102
182 182%
* 9 3 4 94 4

200 2 0 0 4
*53 _____
*57
59
......
*95
97
102 103
1 8 0 78 18 2 4
* 9 3 4 94 4

__

92

92
‘ 107

_

.

V i " 12 4
2 8 4 29*4
136 136
*128 132
1324133
* 3 3 4 34 4
101
101

W ed n esd ay
Jan 9

.
107 4 107 ■* 1 0 7 4 1 0 7 4
100 1 0 1 at
100 100
239 23:)
2 3 8 4 239
151
152
150 4 l.VJ
230 230
230 230
162
162
160 162

*

*133 4
►105
i

lu e s d ay
Jan 8

9
81

92
103

92
109

25 4
92
124
30
135
131
133
35 4
101

254
2 5 4 26
92
92
92
1334
1 3 4 1434
32
33
314
136 4 *134 1 3 4 4
1314 1 3 1 4 1314
13234
134
1334
36 4 *34-4j 35
1 0 2 4 1 0 1 34 102 4

54
5^4
65
06
1 1 9 4 121
444 444

6
80

8
81

54
54
65
68
1 19 4 l2 l
44 4 46

*8
SO

3
274
133<
33
3 l"
84
V i"
23
85
2
19
120
24
574
161
34
1
116
114
54
20
125
31
514
40
75*4

3
264
134
32 4

34
274
13 4
334

2 9 4 "3 1 "
84
84
•99
•99
1334 1 4 4
22
23
8434
84
2
1 78
♦19
20
118
120
23g
24
564 574
1 5 9 4 16U3j
32
32
1
1
115 116
10 4 11
0 ‘S
74
20
204
125 130
31
32
52 4 54*,
33*4 37
744 744

......

......

....

104* 104
68 4 69*4
46^ 474
66
674
7 J4
74
13
13
....... 192
24
234

10 4
67 4
47
67
74
12 4
185
24

ll"
69
49
68*4
74
13 4
85
24

9
80

5
54
68
70 4
1 1 8 4 120*4
46
46

13 4 1 4 4
13
lb
144
2
2
*11518
2
24
1 5 4 16
154
16
16
3434 35 34
34
3 4 4 3o 4
•70
•70
*•60
•70
*•65
3 1 34 33
33
31=8
33*4
37
394
37
37
3 8 *4
1784180
179
178
179
900 900
895
900
t)00
40 4 4 1 4
41
4 2 34 42 7g
*•45 *■47
•45
*•46
8 6 4 88
8 6 4 ’ 3 8 *’
86
19
I 934
1 9 -a 193j
19 4
24
26
134
324
*44
29
84
*•95
14
22
85
•13*
19
118
24
57
161
32
1
115*4
104
54
19 4
1 24
31
50
26
744

F r id a y
J a n 11

......
92
134
314
1354
1304
1314
*35
l 'J i 3;

- ..
92
14
324
1354
1314
133 4
35 4
1024

34
26

*8
*30

9
82

5
54
70
68
1 1 8 4 120
464 464

1334
ll>
124
2
2
2
15
154
15
31
344
344
•75
*•65
•75
3 1 34
3 1 4 3 1 34
3 ( =g
37
38
180 180
180
896 JOO
900
43
40 4 41
•46
•48
•47
86
87
864
20
19
20
34
264

3-4
26
13*4
304

34
264
13*4
32 4

*114
66 4
43
66=8
74
12*4
189
3

12 4
67
43*4
67 *4
74
12 4
139
34

"314 324
5
5
29
30
29 4 3 0 4
8*4
84
8*4
84
•99
•99
•93
•99
14
14*4 1 4 4
144
22
22
22 4
224
02
83*4 84
83
2
2
24
14
19
19
1 8 4 19
11334 117 4 1 8 4
118
24
2 '4
24
24
57
57
54 4 5534
159
169
160 16L
30
32
30
32
1 *4
14
14
14
115
114 114
116
104 104
10 4 1 0 4
7
64
6>-a
74
2 0 4 21
2<J4 21
L3 X
13u 130
127
32
32
3 1 4 32
54
55 *4
5 4 4 55 4
3 1 4 35
3 1 4 33 4
74
*73 4 74
74 4
* l(”
l 'i 4
67
07-4
4 8 4 484
66 4 67 4
74
74
12 4 13
189 189
34
24

STOCKS
B O STO N STOCK
EXCHANGE

Sales
o f th
W eek
Share

M ange fo r y e a r
19 0 6
Low est

H ig h es t

tia n ge fo r I'retnou *
F e o r (1 9 0 5 )
Low est

H ig h est

K a ilr o m ls i
1C57 A t c h T o p <fc San ta F e lO (
76( 8 6 4 J ’l y l i 1 1 0 4 S e p 11 7 7 4 Ma\ 93-4 M ar
D o p r e f ............... 101
. ..
I t r97 4 l ^ e 2" 105 4 J an 3 99 4 Jan 105-4 S**P
B o sto n & A lb a n y
1(><
Ar. 239 D ec
237
2 5 7 4 Fet)19 253 D ec 261 A p r
B o sto n E le v a te d
10(
151
8c 147 A u g lt 160 J an 1- 152 N o t 158 4 A p r
B o sto n & L o w e U ___ IOC
230 D e c 2 2 4 6 4 A p r 2 £241 Ma\ 249 M ar
B o sto n & M a in e . . 10(
101 100 D e c t< 1 8 0 4 A p r 2 170 De.1 185 4 M ar
D o n r e f ________ _10( ......... 1(54 O ct 1C 1 7 5 4 jM a y 4 171 J an 175 A p r
J an ’ 0'
B o sto n & P roviden celO C
300
2 9 9 4 D e c - jt 3 i 4 4 A p r2 4 305 Jan 311 D ec
2 7 4 B o s to n & W o r E le c C o ___ 1,431 25 J a n l r 3 9 4 A p r 7 13 4 Jan 35 M ar
D o n r e f ..
. .
25 7 2 4 .1 a n It 90 A p r 7 6 3 4 Jan 82 4 a u r
90
C h ic J u n c Hv<& D S Y10C
25 156 O ct 2' 182 Jan 12 150 Jan 182 -Mar
160
Jan ’ 07
D o p r e f ________ .106
117 4 J ’ly 2b 127 Jan I t 123 N o* 132 Keb
........ 18 7 a4 N o v 8 190 M ar24 186 Jan 189a4 .V|ar
N o v ’ Ob Con & M o n t C lass 4. _10(
Pass R i v n r e f 100
153 u c t 2 ' 163 A p r l 1 6 0 4 Jan 167 A u g
N o v ’ O*. Conn
10 2,So O ct 1 298 A p r 2 285 Jan 300 A u g
C o n n e c tic u t R i v e r .. .1 0 0
93 132 O ct 27 145 J a n 3i 141 D e c 148 .Mar
134" F itc h b u r g p r e f ___ _ .1 0 0
95 J a n S 107 A p r 2 7 59 4 Jan 92 O ct
J a n 07 '9-a R y & E l e c t r i c . . . .1 0 0
89 D ec 4 95 Jan 2 86 Jan 96 N ov
D e c ’ Ot
D o p r e f __ . . . . . 100
4 197 M ar27 209 D e c 19 175 Jan 192 Dec
100
'.f^ in e C en tral
193
19 4
iss E le c t r ic C o s ... .1 0 0 3 ,1 2 ‘j 17 Jan 5 23 J ’ ne 8 13 O ct 23 A pr
D o p r e f ............... .1 0 ( 1,256 59 4 J an 2 75 J ’ ne 8 55 No\ 7 0 4 M ar
704
J an ’ 07 M e x ica n C e n tr a l___ .1 0 0 _____ 2 1 4 A u g22 2 8 4 D e c 3 4 19 34 M aj 25 4 Deo
25 1 190 J ’ly 11 207*4 J a n 27 a l02*^Dec 215-4 Sep
190 N Y N H & H a r t . . . . l o t
N’ort.hern V H
1 ()(
5 155 S e p 2 i 163 F e b 7 164 O ct 167 -*4 M ay228 J ’ ly 12 233 4 M arlO 232 Jan 233 M ay
A u g ’Ob X o r w ic h & W o r n r « fl
8"i 193 D e c 2b j210 Jan 15 •205 4 Jan 212 A p r
200 O ld C o lo n y ................. .1 0 0
O ct ’ 06 P e re M a r q u e tte ........ .1 0 0 . . . . . . 53 S ep 2fc 53 4 O ct ;
79 Jan 1 0 2 ' F e b
50 J a n 15 65 O ct 11 5 2 4 D ec 87
D o p r e f ............... .1 0 0
heb
N o v ’ Ob
N o v ’06 R u tla n d p r e f............. .101 . . . . . . 47 4 N o v 8 64 J a n 4 50 A p r 72 Jan
65 J an 10 99 G et 2 50 Jan 67 4 A n g
D e c ’ 06 S e a ttle E le c t r ic ........ .1 0 0
D o p r e f ............... .1 0 0 ’ "" V i 95 J a n 10 106 F e b 20 93 4 Jan 102 s e p
102
1 7 8 4 U n io n P a c ific ........... .1 0 0 1,291 139 4 M ay 2 195 Sep 4 113 Jan 151 4 l ’ e'O
91 M ay 3 9 9 34 Jan 2 95 Sep 101-4 t-'eb
D o p r e f ............... 100
J a n ’ OV
170 Sep 24 178 A p r 4 172 Jan ISO o c t
D eC’ Ob V e r m o n t & M a s s ... 100
341 92 D e c 21 101 J a n 2 93 Jan 102 Sep
92 ** W e s t E n d S t ........I ”
50
21 107 Sep 1 1 1 6 4 A p r 9 110 D ec 1 1 7 4 A p r
D o p r e f ............... 50
108
2 5 4 May 9 2 T 3 8 0 ct t
O ct ’ 06 W is c o n s in C e n tr a l.. .100
2 1 4 Jan 3 1 4 Sep
D o p r e f________ " lo t
55 4 A n c 60 4 bep
O ct ’ 05
i s o " F e b ’ V i 5 0 4 Feb 1*6 146 M ai 151 N ov
A p r ’ 06 W o ic N a s h « fe R o c h . ! i o o
.M is c e lla n e o u s
...... ......
250 21 J ’ly 3 2 34 J a n 2 1 1 9 4 Jan 2 9 4 A pr
A m e r A g n c u l Chem 100
92
92
92
D o p r e f............... .100
144 90 D e c 22 102 Jan 26 86 Jan 9 6 4 >ep
” 92
12 34
4 4 A p r 15 leeo
1 2 4 A m e r P n e u S e r v ___
13
134
50 ll,9 3 u 1 0 4 D e c 31 29 M ar21
31
31
32
D o p r e f ............... 50 5,220 26 A u g 9 46 A p r 2 20 J an 3 6 4 D eo
31
A m e r S u g a r R e fin . . . 100
135
437 128 M ay 2 1 5 6 4 Ja n 8 1 3 0 4 M>] 154 4 D ec
1 3 4 4 134*4 135
D o p r e f . . . . ........ 100
94 130 D e c i 4 141 J a n 2 :i 3 32 May 140 4 A u g
131 1 3 1 4 1 3 1 4
1314
131
1 3 0 4 132
1 3 1 4 A m e r T e le p & T elesr.10 0 4,676 123 J ’ly l o 1 4 4 4 J a n 17 1 3 0 4 D e c 148 J a n
35
*35
35 4
815 28 N o v i.' 4734 Jan 24 21 Jan 47 N o v
35 A m e r W o o le n ........... 100
D o p r e f ............... 100 3,050 10 0 34 D e c 29 11034 F e b 2 9 2 4 Jan 109 M a r
102
1014102*4 1014
10
4 3< J ’ ne
3 4 M ai
L a s t S a le 3 4
334 J a n 11
4 4 J ’ne 7
D e c ’ 06 Rnstnn I.anri
114
115 115
58 115 J ’ly 30 11834 M a r l2 116 A u g 124 Jan
114 C u m b e rl T e le p & T e l 100
*22
100 2 134 N ov 23 34 A p r 3 17 Jan 28 D ec
D o m in io n I r o n & S t
7 34 Jan
......
820
9
9
E ast B o s to n L a u d
5 4 J an 31 10 A u g 3
5 4 J ’ ly
230
*225 230
278 225 D e c 1 250 .Tan 13 239 D ec 257 A p r
2 3 0 ’ " E d iso n E le c I li u m .. 100
157
332 157 D e c2 6 184 O ct 9 169 4 Mav 191 Jan
158 159
1 5 8 4 G e n e ra l E le c t r ic ___ 100
6 3 34
64 4 65
6 4 4 M ass’ ch u se ttsG a sC o s 100 11,020 44 May 3 6 1 34 J ’ n e l8 3 3 4 Jan 5 1 4 A llg
85
630 8 4 4 D e c 8 90 Sep 14 80*4 Jan 8 8 4 .May
D o p r e f ............... 100
854 854
854
130 190 M ar23 210 D e c 7 JIS5 4 J ’ ne 206 A p r
200 M e r g e n th a le r L in o . 300
200 4 200*4 200
1 F eb ||3 4 D ec
3 Jan 2
L a s t S a le 4 4
5 34 Sep 17
D e c ’ 06 M e x ica n T e le p h o n e . 1(1 ......
15 27 M ar26 60 N o v 2 2 25 N ov 27 4 D ec
......
N E C o tto n Y a r n ___ 100
*55
58
65 8 0 M ar 2 6 90*4 N ov 24 80 N ov 8 0 4 N o v
......
D o p r e f ............... 100
88
88
124
63 126 D e c 26 141 4 A p r 6 131 D e c 1 4 0 4 A p r
124 1 2 i
1 2 5 " N E T e le p h o n e ........... 100
234 .Jaa
L a st s a le 4
1 F eb
4 N ov 12 1 4 e J a n 15
Is ov*06 PlanTCom t.’ st,tttlr r-.nml 00
L a s t S a l e 2^*4
D o p r e f ____
10 Jan 17 J a a
&ep *06
100
P u llm a n C o ................... 100 1,311 180 D e c 24 2 6 3 4 N o v 8 230 Ma> 258 O ct
181 1 8 1 4 1 7 8 4
181
......
155
8 4 Jan 1 0 4 Keb
9 4 J an 11 11 D e c 10
R e e c e B u tt o n -H o le .. 10
1 0 4 11
858 1 0 l a4 J ’ ne22 120 S ep 26 100 D ec 114 J an
1 1 1 4 1 1 1 4 I H 34 1V2 ” s w i f t & C o ........ ......... 100
L a s t S a l t 2^-4
22 *4 D ec 5 23
13 J ’ ly 23 Jan
F e o l3
D e c ’ 06 T o r r in g to n C lass A . . 25
L a s t S a le 2 7 4
D o p r e f ................. 25 ” ” I" 25 J ’ ly 28 27 4 X o v 5 25 M aj 27 A u g
D e c ’ 06
2 4 May
4 4 Aug
4 a4
5
2 J ’n e ll
4 4 U n io n C op L ’ ddfc M g . 25 1,590
5 4 D e c 3 l!
44
891 1 0 3 4 M ay 2 11334 M a y l7 103 A p r 115 F eb
108 108 4 108
108*4 U n ite d F r u it ........... 100
65
Un S h o o M a c h C o rp . 25 1,157 x6u 4 D e c 21 86 -g F e o 1 57 J ’ ne 90 A u g
65
6 5 4 65 4
505 23 4 *Jec J i 3 2 4 J ’ly 23 .r3 0 4 D ec 34 4 A u g
D o p r e f ................. 25
284
28^4 2 8 4
28 4
49 4 4934
48 4
4 8 4 U S S te e l C o r p ........... 100 16,512 3 2 34 J ’ly 2 50 4 O ct 11 2 4 4 May- 43 4 D ec
.................
D
o
p
r
e
f
99 J ’ ne30 1 1 3 4 F eb 1 91 M ay 107 D ec
1,674
100
I 0 6 4 107
1054
1064
L a s t S a l e •oil
•40 Jan 26 •75 S ep 13 •40 M ai •67 4 J an
D e c ’ 06 W e s t E n d
9 Wftst; rrftlfin .-fe TVlMnr 100 ” 1*4*8
8^
ft 4>
^ N ov 1 1 7 4 J a n 18 11 D ec 22 4 F e b •
*3
D o p r e f ................. 100
81
81 * *30
64 79 N ov27 98 4 J a n 19 90 Oct 104 Feb
82
Li ci s t S a I € 78
7 3 34 O ct 3 86 F e b 7 82 4 O ct 92 Alar
O ct ’ 06 W e s t in g E l & M f g . . . 50
D o p r e f ______
L a s t S ci Le 75
75 N o v2 2 93 J a n 11 91 May 100 O ct
50
K o v ’ 06
M in in g
12 4 Mn> f 1 0 4 O ct
5’
8 4 O ct 11
4 4 D e c 15
5
54
5 A d v e n tu r e C o n ............ 25 2,589
69
6 9 34 6 9 a<
70
25 8,206 3 1 4 J ’ly 19 55 *4 D e c 8 18 A p r 49 O ct
119-4 1 2 0 4 1 1 8 4 1 1 9 4 A m a lg a m a ted CopperlOO 41.174 92 4 J ’ly 13 118 F e b 13 70 Jan 1 1 1 4 Dec
8 J ’ ne 15a4 u e e
45
45
45
8=8 A u g 10 ||45 D ec 31
46 A m Z in c B ead & S m . 25 2.894
5 7 4 M ay 2 74 F e b 14 2 5 4 M*y 73 4 D ec
L a s t S a le 7 6 4
N ot ’ 06 A n a co n d a ....................... 25
1 M aj
7 A ov
12 4
2 4 J ’3y 3 3 15 4 N ot 19
12 4 1 3 4
1 3 4 A r c a d i a n ...................... 25 43,82*u
2*4 D e o 28 •45 J ’ne
"9 J ‘ ue 5
3 N ov
1 4 A r n o ld .......................... 25
380
14
*1»4
2
16
A t l a n t i c ........................ 25 4,635 1034 M ay28 2 8 * iJ a n 6 12 4 Ma) 2 8 4 O ct
Id
15
15 4
B in gh a m C on M i n * s 50 7,000 25 J ’3 y l 3 4 9 4 F e b 14 28 May 37 4 D ec
3334 3 4 4
34
334
•70
•70
-70
■70 B on an za (D e v C o ) . .. 10 1,097 •45 M ay29 •90 O ct 13 ’50 May •95 o c t
5 34 Jan 35 D e c
314
31
314
3 1 4 B ostonC onC < feG (rcts) £ 1 3,116 2 0 4 M a rlu 3 5 4 O ct 11
37 34 B u tte C o a litio n . . . . . . 15 11,731 25 J ’l y 13 42 O ct 4
37 *3
3734 38
C a .u m e t <Sc A r i z __
179 180
1 7 8 4 130
10 2,074 107 J ’ly 14 184 D e c 4
900
234 075 M ay ‘2 900 D e c 22 601 J ’ ne 720 D e c
900 900
900 C a lu m et <fc H e c l a . .. . 25
40
4 0 4 41
4 2 4 C e n t e n n ia l ................... 25 5,026 17 4 J ’ly 13 40 4 D e c 7 16=8 M ar 34 4 O ct
5 5,485 •35 D e c 21 •70 Jan 22 •30 M ar •75 .'lay
•45
•46
'4 6
•47 C on s M e r c u r G o ld ...
8 6 34
8 6 34 8 7 4
9 0 4 C o p p e r R a n g e C on ColOO 23,439 6 6 34 3 My 13 8 6 4 Jan 20 64 Jan 8 5 4 D ec
1934
1 1 4 M ar 22 N o v
1 9 4 20
19 34 D a ly - W e s t ................... 20 2,160 14 M a r ly 2 1 4 N o v l9
6 1 4 O ct 25 8 i F e b lit] 60 Jan 8 6 34 M ar
L a s t S a l e 69 4
100
D e c ’ 06 D o m in io n C o a l..
113 N o v 17 122 Mari9| 113 Jan 120 D e c
113
D o p r e f____ _
L a st S a le
Dec ’ 06
100
1 4 J ’ ly 3 1
4 G et
2 M ay
3 4 D ec 2 ?
4 E lm R i v e r ..................... 12 12*,6*2*3
34
44
34
26
8 A p i 2 0 4 O ct
26
26 4
2 6 4 F r a n k lin ........................ 25 6,890 14 4 M ay ‘2 2 o 4 S ep -.7!
9 4 Jan 12 15 O ct 9;
211
5 Jan 1 0 4 D ec
134 134
134
1 3 4 G ra n b y C on solidated. 10
31*4 3 1 4
304
3 1 4 G re e n e C on solidated. 10 2S,84o 19 4 J ’ ly 12 33 4 D e c H i 2034 J ’ nt 3 2 4 D eo
7 *4 A p r
4 4 Jan 5
4 63
5*4
3 Jan
G u a n a ju a to C o n s o l..
7 4 Jan 18;
31
31
32 4
3 3 4 I s le R o y a le (C o p p e r ). 25 21,798 1 5 4 3’ly 14 29 ‘y j a a o; 17 4 May 2 S 4 Jan
1
3 4 M ar
4,588
6
May
6
4
J
’ly
14
Alass
C
o
n
s
o
l.................
12
*8
Jan
13j
25
94
84
94
94
1 4 O ct
•98
M a y flo w e r..................... 25 2 ,425 •40 J ’ ne27
•93
-99
1 4 J an 4 •70 J ’ ne
•93
M e x ic o C ons M & S . . .1 0 3,027 13 N o v l3 14®4 D ec 3 ...... - - - - ...... . . . .
1 3 4 14
1 8 4 D ec
"2134 *22** A iic ln g a n ....................... 25 3,817 1034 J ’ne2i; 22 4 D e c 24
10 4 Jan
22
22
83
fc5 M o h a w k ........................ 25 2,866 5 4 4 M ar 5 85 D e c 31 48 M aj 6 4 a4 D ec
82 4 83
6 4 D ec
2 J ’ ly
1=8 D ec 8
7 4 F eb 13
.M ontana C oal & C ok e 25 3,539
2
24
14
961 11 J a n 26 2 3 4 O ct 9 l 0 4 D e c 13 D eo
19
5
19 4 1 9 4
1 9 4 .Vevaila C o n so lid a te d
D ec
N o rth B u t t e ................. 15 17,942 7 434 M ar b 117 4 O ct 31 34 A u g 93
11734 l l b 34 117
118
2 4 O ct
784 •70 J ’ ly 17
25
2 4 D e c 27 •75 M aj
24
2*4
24
24
54
O ld D o m in io n ............. 25 3.405 33 J ’ ly 13 6634 o c t 24 23*4 Ma> 3 6 4 D e c
54
55
54
160
25 4,757 93 M ar 7 151 D e c 31 8 8 F eb 115 u c t
160 160
165
D ec
30
P a rr o tt ( S i lv & C op p) 10 1,727 2 2 34 J ’ly 11 4 8 J an 2 22 J ’ ne 47
31
3 0 4 31
3 *4 J an
2 4 D e c 18 •50 J 'n e
14
14
14
1 4 P h oenix C o n s o l............ 25 2,730 •60 M aylO
95 M a) 118 Jan
116
j u i n c y ............................ 25 12,277 80 J ’ly 16 134 J a n U
114 118
125
1 4 May
8 4 O ct
9 4 D ec 2 1
3 4 J ’ ly 16
104
I 0 4 10 4
1 0 4 R h o d e I s la n d ............... 25 13,852
1 4 Ma>
54N ov21
3 Jan
6
1 4 J ’ly 26
6 *4
64
6 4 Santa Fe(G old<fc Cop) 10 45,538
6
4
B
’
eb
1
3
4
N
o
v
2
8
9
Jan
5*4
J
an
10
2
0
34
10
30,532
21
20=3 2 1 4
I’a m a r a c k ..................... 25 8,259 90 J ’ ne 9 122 Jan 2 101 May 140 M ar
142
131 142
169
2 F eb 16*4 O ct
32
l ’e c u m s e li..................... 25 1,720
9 A p r 28 30 D e c 21
32
3 1 4 32 4
5 4 '4 5 4 4 x5 3
5 3 4 l'e n n e s s e e ..................... 25 16.105 40 M ay 2 52 J a n 6 •244 J ’lie 5 3 34 D ec
7 4 Jan 1 3 4 F eb
7 34 J ’ n e l9 2 0 4 D e c 31^
314
33*4 r r im t y ............................ 25 120.441
32 4 3 4 34
9 M ai 75 D e c
U n ited C o p p e r............ 100 1,770 5 7 4 -May 2 73 F e b 71
7 3 4 74
Do
p r e f ............... 100
8 8 J a n 9 111 F e b 21 7 4 4 N ov S3 D ec
L a s t S a l e >5
D e c ’ 06
9 *4 A p i 1334 D ec
9 4 S ep b 1 4 4 M ar30;
1 1 4 i2'V
114
1 1 4 U n it S tates Coal &OU 25 L3*,03*S
67
67
67 4
67 4 U S S m e lt K ef.d iM in . 50 7,263 51 M a r 5 66 Ja n 2 0 i ------ .... ..... ....
D o p r e f ................. 50 8,83 i 43 M ar 5 4 7 4 S ep 17 ..............
48
48
43
48
66
67
68
5 Lm 4 , 1 5 2 4 J ’ n e2« OO3! Jan 12! 3 9 4 Mai 5 8 4 N ov
67 4 U tah C on ( G o l d ) ........
9 4 Marl4| c2 Ma> 17 4 O ct
5 4 N ov 22
V i c t o r i a ........................ 25 3,820
8
74
74
74
4 J ’ ly 3 1 3 4 O ct V
7 4 D ec 15 4 Keb
12
12*4 12*,
12*4 W in o n a .......................... 25 4,5^0
190
D e c 27 105 Jan 134 D eo
131
J
a
n
30
W
o
lv
e
r
in
e
...................
145
1 8 9 4 18934
190 I
2 34 D ec 31;
1 4 J ’ ne
2 4 F eb
3*4 W y a n d o t........................ 25! 15.073 •70 J ’ly 19
3 *4
3 4 "*3 4

*107 1 0 7 4 * 1 0 6 4 1 0 6 ®
105
* 1 0 0 4 1 0 1 4 * 1 0 0 4 101*
*
237"
* ..........238
233
151
151
151
101 151
*230
•230 231
*230
160 161
161 161"
L a s t S a l t 165
*300
*298
300 300*
298 29S
274 "2 8 "
27
27
27 4
2 734 27*4
80
78
80
78
1*60*
L a s t Sa I c 120
L a s t S a le 187\
L a s t H a le 158
230 280
iiM 4 1.35
m " 134 >4 *
134 134
*105
L a s t S a le n o
♦105
” j"i”
**9l" L a s t S a t,e 9 0
IPS
198*" 148
1 9 34 20 4
19
19
IV 4 20
194
703a 71
70
68 4 CS4
704
714
*■^64 2 7 4 * 2 6 4 27 4 L a s t S a l e 25 *4
189
1S j 4 190
189 190
1 S 9 4 190
16 0 180
is
L a st S a le
2 00 200
198
198 200
199 199
*53
*53 . . . . . . L a s t s a l e 0 6 4
L a s t S a l e 60
*57
59
59
*57
. . . . . . L a s t S a l e 50.
L a st S a le 97
* 9 5 * 97
*95
97
*100
*100 102
1 0 1 4 1 0 1 4 *100 102
1 7 8 4 1803s. 179 4 I7ij34 * 1 7 9 4 179 4
3 78 4
* 9 3 4 9 4 4 * 9 2 4 93 4 L a s t s a l e Pa *4
L a s t S a l e 171
92
92
92
92 4 93
9 2 4 93
'1 0 7
107 107
107 107
*107 109
L a s t S a le ^ ? 4
L a s t S a l e HO
L a s t s a t e 150

*11434 116
*1 1 4 34 U 6 4 *11434 U 5 a4 *114*4 n o
♦ 244
*2 434
2 4 34 243-,
*244
9
9
84
y
y
9
*8 a4 " * 9 4
230 230
230 230
*225 230
*225 230
160 1 6 0 4 15934 161
159
160
161 161
64
6 4 4 6 5 34
6 4 4 65
66*4
64®s 65
85 *4 8 5 4
85
85 4 8 5 4
854
b 5 4 85 4
♦198 202
2 00 2 0 0 4 200 2 0 0 4
*198 202
;4
*4
44
*4
*4
44
44
44
55
55
*55
5/
58
*55
* 5 5 4 59
k_
88
88
88
159
83
83
88
125 126
124 124
*125 126
*125” 126
b
4
k
*
10 ‘ •
10
10
10
181 182
1 8 6 ” 182
181 181
18041814
* 1 0 4 11
104 104
" 1 0 4 11
*10 4 11
1121* 1 12 4 112 1 1 2 4 112 1 1 2 4 111 112
224
22
224
224 *
* 2 6 " ' 2 7 4 *26*" 2 7 4 *26 * 2 7 4 * 2 6 " 27 4
5
5
5
5
5
5
5
434
108 1 0 8 4 108 308
108 1 0 3 4
1 0 7 4 108
67
67
68
66
66 4 67
66
634
28
284
*28 4 2 8 4
* 2 8 4 .. .
284 284
4 9 4 503*
49
494 494
494 494
50*4
1 0 5 s4 1 0 5 4 106 4 1 0734 1 0 7 4 1 0 7 4 1 0 6 4 1 0 6 4
*8
‘ 80

T h u r sd a y
J an 10

.....

_

Before pay’ t ofassesa’ts caded in li>05. U Before pay’ t of ium’ ti ca:leil iu 190 i. *Bidaada.slced. -1 N ew sto.-k. f A**’ t paid. IKx-ri^tits, a Ex-div. <& rights




Boston Bond Record.

JAN. 12 1907.]
U U M JS
BO STO N STOCK E X C H ’OE
W e e k E ndin g J a n 11
A m B ell T ele p h o n e 4a___ 1908
A m X elep * T e l c oll tr 4s. 1929
A m W r it P a per 1st s i 5s g 1919
A tc ii & N eb ra sk a 1st 7a.".1908
A tell T o n * 8 Fe ge n g 4 s .. 1995
A d ju stm en t. g 4 » . . . . J ’ ly 1995
B oston E le c t L ig h t 1 s t 6s . 14)08
C on sol 5 s ...........................1924
B oston & L o w e ll 4 s ........... 190?
4 s ............................................19! 6
B oston & A lam o 4 *<28..........1944
B oston T erm in a l 1st 3 *28.1947
B u r * M o R iv e x 6s ........... 1918
N o n -e x e m p t Os.................1918
S in k in g fund 4 s ............... 1910
B u t t e * B oston 1st 6s ___ 1917
Cedar Hap & M o R 1st 7 s .l9 1 ti
2d 7 s ..................................... 1909
C en t V erm t 1st g 4 s ..M a y l9 2 0
C B & v Iow a D iv 1st 5 s . 1919
Io w a D iv 1st 4 s ............... 1919
D eb en tu re 5 s .....................1913
D en v er E x te n 4 s ............. 1922
N ebrask a E x te n 4 s ........1927
B & S W s 1 4 s ...................1921
Illin o is D iv 3 *2S............... 1949
J o in t bonds See G t N orth ern
Ch ic J o K y & Stk Y d s 5s .19 1 5
C oll tru st r e fu n d in g g 4 s l 9 4 0
Ch M il * S t P D u b D 6s .. 1920
Ch M & St P '.Vis V d iv 6 s l9 2 0
C h ic * N o M id i 1 st g u 58.1931
C h ic & W M ich gen 5 s . ...1 9 2 1
C o n cord & M on t c o n s 4 s ..1 9 2 0
C on n & P ass R 1st g 4 s . ..1 9 4 3
C u rr e n t R iv e r 1st 5 s ......... 1927
JDet G r R a p & W 1st 4 s . .. 1946
D om in ion Coal 1st s f 5 s .. 1940
F itc h b u r g 5 s .........................190?
4 s ...........................................1915
4 s .......................................... 1927
F r e m t E l k * M o V 1 st 6 s .. 1933
U nstam ped 1st 6s ........... 1933
G t N or C B & Q c o ll tr 4s 1921
R e g is t e r e d 4 s .....................1921

J -J
J -J
J -J
M-S
A-O
N ov
MS
M-S
J-I>
J -J
J-J
F-A
J -J
J -J
J -J
A-O
M-N
J-D
Q -F
A-O
A-O
M-N
F-A
M-N
M-S
J -J
J -J
A -0
J -J
J -J
M-N
J -D
J-D
A -0
A-O
A -0
M-N
M-N
M-S
M-S
A -O
A -O
J -J
Q-J

BONUS
BOSTON STOCK E X C H ’ GE
W kkk E ndin g J a n 11

R ange
Y ea r
1 90 6

W eek’ s
R ange or
L a st Sale

P r ic e
F r id a a
J a n 11

B id
A sk Low
H ig h
9 3 % Sale
93
98*4
90
90*4
90 Sale
1] S”7 ’-p N o v ’ (>t>
104 M ar’ 06
!0 0 % 100%
1 0 0 U 101
92 J a n ’ 07
92 ........

95

IjOW H igh
97*2 100
89% 95
US5% 88%
104 104*4
9 9 34 1103*8
92% 97

Illin o is Steel d e b e n 5 s ___ 1910
N o n -c o n v e v t d eben 5 s . . . 1913
l a F a lls cfehioux C is t 7 s .. 1917
K an C C lin & S p r 1st 5 s . .. 1925
Kan C F t S & G u lf 1st 7 s .. 1908
K a n C F t S c o tt * M 6 s . . . .1 9 2 8
Kan C M * B gen 4 s ........... 1934
A s s e n te d in c o m e 5 s ........1934
K an C * M R y & B r 1st 5 s l9 2 9
101 101% K a n C S t J o & C B 1st 7 s .. 1907
M ain e C en t c o n s 1st 7 s . ..1 9 1 2
114 114
C on s 1st 4 s ........................ 1912
io ? " 1^ i i i * 4 M arq H o u g h * O u t 1st 6 s . 1925
M e x ica n C en tral co n s 4 s . .1911
1st c o n s i n c 3 s ............Jan 1939
■9 9 * ' **9*9%
2d co n s in c 3 s ............Jan 1939
123*8 123*4 M ich T e l e p l s t 5 s .................1917
M in n e G eu E le c c o n g 5s 1929
86** ‘ *90** N e w E n g C ot Yarn o s ___ 1929
N e w E n g T e le p h 6s ............1907
3 s .......................................... 1908
100 101
5 s ...........................................1915
102*2 104.
99
100*2 N e w E n g la n d c o n s g o s ... 1945
B o sto n T e r m 1st 4 s ........1939
102 7r 105*3
97*3 99% Old C o lo n y gold 4 s ............. 1924
90*2 94*2 O re z R y * N a v c o n g 4 s . .1 9 4 6
O re g S h L in e 1st g 6 s ........1922
R e p u b V a lle y 1st s I 6s . . . 1919
103*2 107
97
9 9 34 R u tland 1st c o n g e n 4 *28.1941
R u tlan d -C an adian 1st 4 s l9 4 9
122
124*4
Savan n ah E le c 1st c o n s 5 s .l 952
S eattle E le c 1st g 5 s ..........1930
103 i'0‘3 "
l'e r r e H a u te E le c g 5 s ___ 1929
105
101
101*4 101*4 T o r r in g to n 1st g 5 s ........... 1918
U nion P a c R R * l g r g 4 s . l 9 4 7
1st lie n c o n v 4 s .................1911
100 106
U n ite d F r u it co n v g e n 5 s . 1911
90
97
U S S teel C orp 10-60 y r 5 s . 1963
98 101
W est E n d S tr e e t R y 4 s ___ 1915
G old 4*38..............................1914
G o ld d e b e n tu re 4 s ............1916
99*4 i'02*3
G old 4 s ................................. 1917
134:>4 137*8
W e s te rn T e le p h * T e l 5 s. 1932
96*8 101% W isc o n s in C e n t 1st g e n 4 s l9 4 9
96*4 101% W is c o n s in V a lle y 1st 7 s .. 1909

110 F e b ’ 04
104 <2 A p r ’ 00
101 S e p ’ 06
114 M a r’ o 6
112*2 Jan ’ 03
108 D e c ’ 06
107 4 .
102 Sep ’ 05
9938 O ct ’ 06
'9 9 V
100 J ’ n e ’ 01
12 3 *4......... 1 2 3 14 N o v ’ 06
111*8 J ’ly ’05
8 6 **
86*4 Sale" 86
109 M ay’ 05
1 0 1 A u g ’06
102*2 J ’ l y ’06
9 9 7e D e c ’ 06
99 *2 .
101 .
102% J ’n e ’ 06
98 >4 D e c ’ On
91% D e c ’ 06
9 1 * 2 ........
1 D e c ’ 06
S N ov’ OH
2 A p r ’ 06
j F e b ’05
f A u g ’06
......... 101
102
102 Sale __ L
101*4 J ’ n e ’06
112*4 Jau ’ 03
104 N o v ’ 06
100 101
92 D e c ’ 06
90
1*3
100 J a n ’ 07
103 *2 Sep ’ 05
103 *g A p r ’ 05
100 V O ct ’ 06
134s4 N o v ’ 06
140 A p r ’ 05
9633 Sale
9658
97
96
96 _____ 96
. . . . . . . 104

N OTtt— B u yer pays a c c r u e d in te re s t in a d d itio n to th e p u rch a se p r ice fo r all B o sto n B on d s.

P r ic e
F r id a y
J a n 11

R anae
Year
190 6

W eek’s
R ange or
Last Sale

Low
H i ait
i 0 0 78 O ct ’ 06
100 S D e c ’ 06
1 22 *9......... 22 *4 N o v ’ iJ*..
9 7 * 2 ......... 9 7 *v Sep ’ <16
1 0 2 * 2 N o v ’ 06
1 1 9 ‘a 119 ^
94*2 D e c ’06
94
92 *2 D e c ’ 06
100*2 101 J ’ l y ’ 06
100*4 Sep ’06
1 13*8 N o v ’ 06
101*4 Sep ’ Oo
..........120
118 Muj ’ 04
8 5 '9
85*-.
85 *2 Sale
2 6 * 2 °C t ’ 06
26
28
1734 A u g ’ 05

J -J
A-O
A -O
A -O
J-D
M-N
M-S
M-S
A -O
J -J
A -0
A -0
A-O
J -J
J ’ ly
J ’ ly
J- J
J -J
F-A
A-O
A-O
A -0
.T-J
A -0
F-A
J -D
F -A
J -J
J -J
J -J
J -J
F -A
J-J
M-S
J -J
M-N
M-S
M-N
F -A
M-S
M-N
F-A
J -J
J -J
J -J

ow H ig h
100 l o i s .
100 1 0 1 ‘2
122 '8 1 - 2 *4
97 H 100
102*2 IOC
117*2 123 *«
94 *2 99 *2
92
94
100 104*2
100*4 102*2
1 L3% 115
75% 84 “4
19*4, 26*3

102*2 A u g ’ 04
100
100
100 O ct ’ 06
10034 O ct ’ 06
1(I634 A p r ’ 06

9 9 34

*7
100
10034
104

101 *2 Sep ’ 06
1102% Jan ’ 05
112138 M a r’ 06
103 D e c ’ 06
107*2 N o v ’ 05
102 M a i’ 02
98*2 M ay’06
104 O ct ’ Ob
102 D e c ’ O.;
99 *2 N o v ’ OS
1102
HI 02
1150*8 A p r ’ 06

103

101*2 101*2
1121->61121'%
103 103
98
98*2
103*2 109
' 9 9 ’sj ib o * *
1 0 2 *2 1104 7a
1150 4 ,1 5 5
105
112*4
1196
110 0 78

1 10
108 >4 110*. 1 1 0
TT98°te Sme H98*-4 198%
9 9 % ......... 100 *8 S e p ’ 06
102

99 7s .

100*8 102%
102

1 02

1 0 3 *2

102% 102%

102% Jan '06
100*4 D e c ’06
072
ou
1194*2 S ep ’ 05
109% A u g ’ 05

" N o p r ic e F r i d a y ; la te s t bid an d asked.

100*4
101*2
101^4
107

1 0 0 *4 I 0 2 7e

99

103*2

11 F la t price.

Philadelphia and Baltimore Stock Exchanges—Stock Record, Daily, Weekly, Yearly
S liu r o P r i c e s — N ot P e r C e n tu m P r i c e s
S a tu rd a y
Jan 5

M onday
Jan 7

’l u e s d a y
Jan 8

W edn esaay
Jan 9

A C T IV E S T O C K S

T h u rsd a y
J a n 10

( F o r B o n d s a n d In a c tiv e
S tocks see below J

F r id a y
J a n 11

B a lt i m o r e
93*3 94

51
43%
10%
* 7
33
15*4
101%
78
2*4
69%
*4.3*2
8 310
22
68%
45 *4
*47
59%
95%
*27

94*,
23

95
23*4

94*3 94%
*22 ^ 23*4

94% 9 4 34
23*4 23*4

95
98
*22*a 23*2

48
48
* 1 3 78 14*2

*47*3 48*9
*13*2 14

48
48
13*4 13*2

*13*4

51
51
61
51
51
43*4 44
4 3 S 44
44*3
10% U
10% 1 0 7„
11*5
7
7
7
7
7
35
35
35
33*4,
35
15*4 15%
1534 16
15*4
.0 1 % 101
.03
102 *2 102 >2
78
78%
78%
78 *2
77
'>i.,
2%
2*4
70
V0 % 69 1-1ie 7 6 n ln
69%
4 8 34 *47*4 4 7 3,
48*4 48*4
8*8
8*8
3*8 baie
8 310
20% 22
19% 2 1
22%
67% 6815ie
69 V 688ia 6 y%
46
*44% 45 *2
45*4 -4 5
*47
48
♦47
48
48
51) *4 69*2
(il)
59*4 b 9 >
9 5 34 96
96 *s 95%
96 ^
28
*27
29
27
27

69 7S
*47*2
8*8
20*3
68
*44%
*47
69
95
*27

52
48 7e

76*

68*2

22*2
24 •.
10*.

16
2
9 4 34
113

61

105

47*2
**9534
6H,

1 834

8*2

‘ *9*1**

B id

R onds
A1 V a l E e x t 7s 191 0 A-O
10*8 A l t & L V E le c i*2S’ 3 3 .F -A
A m R y s c o n v 5s 1 9 1 1 .J-D
52*4 A tl C ity 1st 5s g ’ 1 9 .M -N
B alls T e r 1st 5s 192 6. J-D
1 5 e r g * E B r w 1st 6 s’ 21 J-J
B eth le Steel 6s 1 9 9 8 .Q -F
C h o c * Ale 1st 5s 1949 J-J
Ch O k & G ge n 5s ’ 19 J -J
C ol St R y 1st c o n 5s 1932
C o u T r a c o f N J 1st 5 s . ’ 33
E & A 1st M 5s 192 0 M -N
E le c & P e o T r stk tr c tfs
E q II G as-L 1 st g 5s 1928
11 * B T o p c o n 5s ’ 25 A -O
In d ia n a p o lis R y 4 s . 1933
23
In te r s ta te 4s 1943 ..F - A
2 5 S L e h ig h N a v 4*28 ’ 1 4 .Q-J
1034
I iR s 4s g ........1 9 1 4 .Q -F
G e n M 4*28 g ,1 9 2 4 .Q -F
L e h V C 1st 5s g ’ 3 3 . .J-J
17
L e h V e x t 4s ls t l 9 4 8 .J - D
2d 7s 1 9 1 0 .................M -S
C o n s o l6 s 1 9 2 3 ........J-I>
A n n u ity 6 s ............... J-D
G en c o n s 4s 2 0 0 3 .M -N
103
L eh V T r a n c o n 4 s ’3 jJ -D
114
N e w Con G as 5 s 1948 J-D
N e w a r k P a ss c o n 5s 1930
106
N Y P l i * N o 1st 4 s ’39 J-J
48
In c o m e 4s 1 9 3 9 ...M -N
N o O liio T ra c c o u o s ’ 19.J-J
P e n n ge n 6s r 1 9 1 0 ..V a r
C on sol 5s r 1 9 1 9 ...V a r
P en n * M d S teel co n 6s.
P a & N Y Can 5s ’3 9 .A O
C on 4s 193 9............. A -O
P e n n S teel 1st 5s ’ 17 M -N
P e o p le ’ s T r tr c e r ts 4s ’ 43
P C o 1 s t * c o l tr 5 s ’ 49 M -S
C o n * c o lt r S s 1951.M-N
49
6 34 PI11I E le c g o ld tru st ctfs .
T r u s t c e r tifs 4 s ...............
58
P * E gel* M 5 g ’ 2 0 . A-O
G en M 4 s g l 9 2 0 . . A * O

B id and ask ed p rices; n o sales on this daw




96 N o rth e rn C e n t r a l .........
23*3
8 i)
48*2
1334 U nited R y & E le c t r ic ..

1 00
50 1,362
101)
TOO
100
150
50
735

R a n g e l o r Y ear
190 6
L ow est
82
97
22
85
48
13

H ig h es t

J’ n e 7 92 J ’ne20
J ’ ly 3 111*4 D e c 11

R ange to r P rev io u s
Y e a r (1 9 0 5 )
Low est
83
99

H ig h est

May 90 A p r
May 110% Sop
34 D ec

91% M ar30
D e c 27

19

J a n 15

12*2 A p r

13

M ar

P h ila d e lp h ia
134 5 0 34 Sep 10 54 J a u 27 48 Jan 54*i A pr
51
*50% 51
51
A m e rica n R a ilw a y s ___ 50
51
45% 47 *»■ 45% 46% Cam bria S t e e l ................. 50 91,638 3 0 % J a n 5 39% N ov 30 24% May 32 D e c
4«
2,973
10
1 0 % 11
11
E
le
c
t
r
ic
Co
o
f
A
m
e
r
ic
a
11 M ay 9 12% N ov20
11
10 *2 Jan
12% Feb
li* f
550
6 N o v 2 8 14 J a n 4
7
8
8
7**
8*3 Oec 17*4 Jau
7*8 G en A sp h a lt tr c t f s ___ 100
500 31 D e c 7 48 J a n 19 36 N ov 49 Jan
:>a \ *34% 35*2
D o p r e f tr c t f s ___ 100
34
34
16% 16»4 D ik e S u p e rio r C o r p ___ 100 1,930 14*3 N o v 2 6 23 34 J a n 15 14 *3 May 25*4 M ar
lo %
I 0-4 16
75/. 100 D e c 21 118 Jau 19 100*2 J ’ ly 123*3 N ov
03
102 1 0 2 *. L e iu gh C & N a v t r c tfs 50
10 i 102
77*< 77*4
77
78
77*<j L e h igh V a lle y ................. 60 2,563 65 M ay 2 86 J ’ n e 8 52*2 Jan 90 *2 N ov
2
2 % D ec
6% Jau
2%
2 M arsden C o ...................... 101) 1,043
O ct 8 3 i° io J a n 10
2*8
67% 68*4 P e n n s y lv a n ia R R ......... 60 21,770 61% J 'ly 3 73*iia J a n 22 65*3io M .*> 73% A u g
7 0*4 6911x6 70%
62 47 A p r 20 a.54 '2 Mat'26 4 0 J4 Jan 55 *4 N ov
47 s, 47*4
P h ilad elp ’ aOo ( P it t s b ) . 50
48
47
48
P h iladelphia E l e c t n c t 25 4,096
6% D ec 7 9 3ie O ct 17
8
J ’ ne 12 *2 A p r
8*8 8% s
8*8
20% 20
21
20*4 20% P h ila R a p id T r a n s i t c .. 60 1^,891 c l 9 *4 D e c 31 231*4 Jan 27 f 17% Jan 236 A p r
68
50 44,307 56*4 May 3 83 Jan 23 39% Jan 71i%e N ov
68*3 69% 6 7°ia 68 *2
D o 1st p r e f............. 50
61 43% A p r 16 4716ie J a n 23 45 M ay 47 '8 Aug
4 5 ’4 *44% 4 5 34 *44 *3 45*2
44% -'.lay 2 51 J a u 23 42 J an 50*3 N ov
43
D o 2 d p i e f ............... 60
48
*47
47*2
*47
69
U nion T r a c t o n ............... 50 4,070 53*8 i*8C IS 63 A u g 2 i
5 7 34 58
57% 58
58*4 Mai 63% O ct
95 *r
94% 95
91*4 94% U nited G as I n ip t .......... 50 4,682 1T8 l *2 May 16 101 F eb 15 90 J ’ ue 125% A p r
110 25 D e c 2 1 32 M ar 1 20 F eb 31 N ov
W elsb a cli C o ................. 100
*2 /
28
27
27
28

P 1 I 1 I ,A D E L P I J I A

P H IL A D E L P H IA
I n n c t iv e S t o c k s
A lle g h e n y V ul p r e t ....5 0
A m e rica n C em en t........10
A m e r G as o f N J ........100
B e ll T e le p h o n e ............. 5u
Cam bria I r o n .................50
C en tral Coal & C ok e. 100
O o u s o lT r a c o f N J . .. 1 0 0
D iam on d S tate S t e e l.. 10
P r e f e r r e d .....................10
E a s to n C on E le c t r ic 6.50
K lee S tora g e B a tt___ 100
P r e f e r r e d ...................100
F t W a y n e & W V ........100
G erm a n tow n P a ss ........60
In dia n a p olis S t ........... 100
In d ia n a U n ion T r -----100
I n s u r a n c e C o o f N A . . 10
I n t e r Sm P o w & C liem .50
K e y s to n e T e le p h o n e ..5 0
P r e f e r r e d .....................50
K iiystonoW atcliC a.se. 100
L it B r o t h e r s ...................10
L ittle S c h u y lk ill............50
M in eh ill & S ch u y l H ..5 0
N H a v e n Ir o n & S t e e l.5
N orth ern C e n tr a l......... 50
N o rth P e n n s y lv a n ia ..5 0
P e n n s y lv a n ia S a lt........50
P e n n s y lv a n ia S t e e l.. 100
P r e f e r r e d ...................100
P h ila C o (P itts ) p r e f ...5 0
P h il G erm an * N o r r i s .50
P h ila T r a c t io n ...............50
R a ilw a y s G e n e r a l........10
S u sq u eh Ir o n & S t e e l..5
T id ew a ter S te e l........... 10
P r e f e r r e d .....................10
r o n o p a h A lin in g o f N e v l
U n io n T r o f I n d ......... lo o
U n ited N J R R & O . .1 0 0
■U n it T r a c P itts p r e f. 50
W a r w ic k I r o n * s t e e l.1 0
W e s t J e r s e y * S e a S h .5 0
W es tm orela n d Coal.. ..5 0
W U kes G as A K le c .J io o

51
43%
10%
7
34%
15%
103
77*3

13*2

05*3
* 2’i >3
*75
"47*3
'1 3 * 3

Sales
ot the
W eek
Shares

1, Ex-riarhts.

A sk

99*4
108
103
119
119*2
111
111*3
1 0 1 34 105*4
109*3
97
106*4

97*4

110%

97%

97*2

107H. 108*2
1*13*2
102
101*2
107
101
101*2
9 9 34 loO
6 9 34 70
113

||* 7 .5 0 paid,

P H IL A D E L P H IA

R id

P h * R e a d 2 d 5s ’ 3 3 .A -O
C on M 7s 1 9 1 1 ........J-D
C on M 6s g 1 9 1 1 ....J -D
E x Im p M 4s g ’ 4 7 .A -O
T e rm in a l 5s g 1 9 4 1 .Q -F
P W * B c o l tr 4s ’ 2 1 . J-J
P o r tla n d R y 1st 5s 1930.
R o ch R y * lj co n 5s ’ 54J-J
U T r a c i n d g e n 5 s ’ 19.J-J
U n R y s T r c t fs 4 s ’ 4 9 J * J
U n ite d R y s I n v 1st c o ll tr
8 f 5s 1 9 2 6 .................M -N
U T r a c P it g e n 5s ’ 97 J-J
W o lsb a c li s f 5s 1 9 3 0 .J-D
W lk s-B G & E c o n 5 s ’55J -J
B A L T IM O R E
ln n c liv e S to c k s
A la C en s C o a l* Ir o n . 100
P r e f ..............................100
A tla n ta & C h a r lo tte ..1 0 0
A tla n C oa st L in e R R .1 0 0
A tla n C oast L (C o n n ) 100
C anton C o .....................100
C ons C ot D u ck C orp . ..5 0
P r e f e r r e d .....................50
G e o rg ia S o u * F l a ...1 0 0
1st p r e f...................... 100
2d p r e f ........................ 100
G -B -S B r e w in g ............100
IJ on d s
A n a c o s tia * P o t 5 s ............
A tl & Ch 1st 7 ...1 9 0 7 J-J
A tla n C L R R 4 s l9 5 2 M -S
A t l Coast L (C t )c t fs 5s J-D
C tls o f in d e b t 4 s ___ J-J
5-20 y r 4 s 1 9 2 5 ..........J-J
B a lt C P ass 1st 5s ’ 11 M -N
B a lt F u n d g 5 8 .1 9 1 6 M -N
E x c h a n g e 3*38 1930 J-J
B a l t * P l s t e s m l ’ l l A-O
B a lt T r a c 1st 5 s . . ’ 29 M -N
N o B a lt D iv 5s 1942 J-D
C o n v e r tib le 5 s .’ 06 M -N
C e n t’ l R y o o n 5 s l9 3 2 M -N
E x t * Im p 5 8 .1 9 3 2 M -S

t $15 paid,

t $10 uaid.

A sk

110%
103 103 *i
119*2 121

99%
**84
89 7s
'*7*3

91
180

92*2

32*6" 330
1*0
92 H
12
12*2
33
33*2
36
97*2 9*8 S
85
92
7*4
103
9*8*"
103*2
87
88
103*2
110*2
103
106
114
114*2
iio "
110

i S20 paid,

10834
89
89
105 '
111*2
101
115**
115*2

B A L T l.U O K li

B id

A sk

Clias C ity R y 1 st 5s ’ 23 J-J 102 *2
Chas R y G A E l 5s ’ 99 M -S
93
94*2
Chari C & A e x t 5 s . ’09 J-J 113
2d 7 s .................1910 A -O
109
C i t y * S u b 1st 5 s . . ’ 22 J-D 103%
C ity * S u b ( W a s ) l s t o s ’ 48 10?. >2
Coal * 1 R y 1st 5 s ’ 2 0 F -A 104
113
C o l& G r n v 1 st 6s. 1916 J-J 110
C on sol G as 6 s . ..1 9 1 0 J-D 103 *2 104
109
5 s ........................ 1939 J-D 108
G a * A la I s t c o n 5a ’ 4 5 J -J 108*2 109
G a Car * N 1 st 5s g ’29 J-J 107% 108*3
G eorg ia P 1st 6 s . . . ’ 22 J-J 118
G a s o * F la 1st 5s 1945J-J 110*2
G -B -S B r e w 3-4s 1951M -S
58*2 59
2d in c o m e 5s 1951 M -N
31
31*4
K n o x v T r a c 1st 5s ’ 2 8 A -0 105
L a k e R E l 1st g u 5 s ’ 42M -S 114
M etS t( W a sh ) l s t 5 s ’ 2 5 F A 111
M t V e r C ot D u c k 1st 5s.
83*2 83%
I n c o m e s ............................
100
95
N p tN & O P 1st 5s’38 M -N
G e n e ra l 5s___ 1941 M -S
N o rfo lk S t 1st 5 8 ’ 4 4 . .J-J 107
N o rth C en t 4 *3S 1925 A -O 108
114
S eries A 5s 1 9 2 6 ___ J-J
S eries B 5s 1 9 2 6 ___ J-J 114
P itt U u T r a c 5s 1 99 7. J J
1 10
P o to V a l 1st 5s 1 9 4 1 .. J J
113
S av F 'la * W e s t 5 s ’34 A-O 112
S eaboard A L 4s 1950 A -O
82*2 83
Seab * R oa n 5s 1 9 2 6 .J-J 112
S ou th B o u n d 1st 5 s ..A -O 109
111
93
94
UE1 L & P 1 st 4 *38’ 29 M -N
89% 90
Un R y * E l 1st 4s ’49 M -S
In c o m e 4s 1 9 4 9 ........J-D
58*4 58*3
Va, M id 1st 63 1 9 0 6 ..M -S
2d se rie s 6s 1 9 1 1 ...M -S 108
3d se rie s 6s 1 9 1 6 ..M -S 113
4 th ser 3-4-5s 192 1. M-S 110
5th se rie s 5s 1 92 6. M -S 110
V a (S tate) 3s n e w ’32.J-J
94*4
F u n d d e b t 2-3s 1 99 1. J-J
94*3
110
W e s t N C co n 6s 1914 J-J 10S
W e s V a C & P 1 st 6g ’ l l J-J 104*2 105*4
W il & W e ld 5 s - .1 9 3 5 .J J 1L4
117

a R e ce ip ts .

......
...

6 $25 paid.

c $ 3 0 paid.

96

THE CHRONICLE.

|V

ol. l x x x iy

.

a
In d u strial and M iscel
ilk
B id
100 104
$132 135
Cuban 6 s of 1896............
90
91*2 UDiamond M atch Co. 100 123 125
7V
105*2 106*2 Dom inion Copp er (ne w ) 10
7*2
Douglas C o p p e r............5 f 11
T R A N S A C T IO N S A T T H E N E W Y O E K STOCK E X C H A N G E
t,iectrio B oat..............1 0 0
31
S3
’ {108
D A IL Y , W E E K L Y A N D Y E A R L Y
P re fe rre d .................100
4
80
76
.........
E lectn o V ehicle.........100
IS <
35
29
P re fe rre d ................. 1 0 0 * 1 0 " 2 0
73
68
W eek e n d in g
Empire Steel............. 100
$100
103
8
6
State
R a ilr o a d Ac
V 8
J a n 11
P re fe rre d ................. 1 0 0
50
46
i ........ 90
Bonds
Bonds
Bonds
1U07
S h are s
P a r v a lu e
Federal Sugar, co m ..100
42
38
P re fe rre d .................100
73
78
$143,000
.$1,399,500
IJGeneral Chemical ..10 0
74
90
80
794,340 $69,876,500
85
Saturday ............
1.826.500
219.000
UPreferred............... 100 101 102
93,501,600
140 150
M o n d a y.............. 1,080.091
1.827.000
90,000
Gold H ill C o p p e r......... 1 t 4*J
$3,000
81,112,800
114
4»a
941,603
T uesd ay..............
1.953.000
408.500
Greene Cananea (w i).20 f 22 H. 23
49.562.900
75
572,454
W ednesday.........
1.631.500
328.500
8,000
Greene Con C op per...10 t 30?* 31*8
45
57,178,200
55
307,062
Thursday______
229.000
1.954.500
1,000
Greene Consol G o ld ... 10 r 2
110
89,471,500
1,140 605
2 *»
F rid a y .............
........ 77
Greene G old-Silver__ 10 \ i - 8 2
CjuggenheimExplo’n.100 295 310
a l l 2 117
T o ta l................ 5,236,155 $440,703,500 $10,592,000 $1,413,000 $12,000
H ackensack W ater Co
116
J a n u a r y 1 to J a n 11
75 "83*'
R e f g 4 s 52 op 1 2 ...J-J { 90
Week e n d in g J a n 11
93ia
S ales a t
93
97
98 ........ Hall Signal C o ...........100
H e w Y o rk S tock
14
Havana Tobacco C o ..100
14*9
1906
1907
1906
E xch a n g e
1907
E le c tr ic C om p anies
20
25
P referred..................100
C hicago Edison Co See 1 lucaao list
66
70
1st g 5s June 1 ’ 22.J-D
7,108,514
8.694,621
14,366,493 IIKingsCo
5,236,155
8 tocks—N 0 . shares
El L & P Co 10
140
H ecker-Jones-Jew’l Mill
Par vaiue____ $440,703,500 $811,096,100 $600,114,400 $1,309,379,300 Narragan (Prov) El Co 5 t 136
99
9934
1st 6 s 1922..............M-S 105 109
$ 8 ,0 0 0
$21,300
*52,900 N Y & Q El L& P ow C olO
8 ,0 0 0
Bank shares, par..
34
37
55
H er’g-Hall-Mar,new.lOO
62
P re fe rre d ................. 10
BONDS
75
85
H oboken Land& ImplOO 200
$14,000
•■5228,000 U m ted E lectricof N J 10
$203,000
$ 1 2 ,0 0 0
Governm ent bond.'
75
115s 1910................. M-N $100
1,941,000
5,853,800
1,418,000
3,099,800
4s 1949 .................... J -J { 70 ” 7*6*4 H ouston O i l ............... 100
9-2 10*2
State bonds............
16.498,700
27,857,200
18.599,200
10,592,000
45
RR. and mis. bond53
P re fe rre d ................. 1 0 0
K erry C om p a n ies
H udson R ealty.......... 100 130 140
$18,453,700
$33,939,000 Brooklyn Ferry stocklO
53
$12,022,000 $21,902,000
Total bonds...
34
1*2 VIngersoll-Raud com . 100
93 ”94*a
B & N Y 1st bs 1911.J - i 98
1|P referred ................. 100
68
74*' Internat’lBankingColOO 130 140
D A IL Y T R A N S A C T IO N S A T T H E BOSTON A N D P H IL A D E L P H IA N 1’ & K K Ferry s tk .10
10
1st 5s 1922............ M-I
81
In
t’n
’IM
e
rc
M
a
rin
e
.100
10a4
EXCHANGES
N U H ob con 5 s ’46.J-J 5105 107
P referred ................. 1 0 0
29*2 30
76
77
H ob F y 1st 5s 1946 M J $108 110
Col tr d 4 *a’22op’ 07A -0
N Y * N J 2d 5s 194G.J-. i 105
P h ila d e lp h ia
Internat’l N ic k e l___ 1 00 120
B o sto n
Week e n d in g
30
84 '*88'*
10th & 23d Sts Ferry 10
P re fe rre d ................. 100
J a n 11
85
19
1st mort 5s 1919...J -l $ 80
21
International Salt___100
L
is
te
d
U
n
lis
te
d
B
o
n
d
B
o
n
d
U
n
lis
te
d
L
is
te
d
1U01
23*2 29*2
1st g 5. 1951.......... A-O
55
UUnion Ferry stock .10
65
shares
sales
shares
sales
shares
shares
90
D1st 5s 1920 .......... M-I
91
4
International S ilver, lo o
6
P
referred
.................
1
00
48
52
22,933
10,742
$24,500
$ 1 2 ,0 0 0
13,274
Saturday ....... 104,511
H a ilroail
1st 6s 1948............... J-D 105 108*2
24,562
57,200
25.000
15,108
21,449
M o n d a y ......... 144,623
P eo & St L pref.10
Lackawanna s t e e l... lov
68
71
34,151
8,030
1 0 .0 0 0
32,787 Chic
16,018
T u esd a y......... 101,531
Deposited stoeK............
1
2*2 Lanston M onotype.......20 t 13 *8 13*2
48,500
S.500
40,563
1,683
8,421
W e d n e sd a y .. 85,906
Undeposited stock ___
1
. . . . . . Lawyers M ort insur.100 1 8 / 192*2
69,400
16.500
45,023
2.59*5
12,428
T h u rsd a y ..... 89,149
P rior Jlen g 4 *2S’30.M<fc:
50
95 ........ 1jLeh<fc W ilkesb Coal.So
12.500
63,800
19,073
33,757
6,253
F rid a y ........... 99,768
Con m tg g 5s 1930. J6c.
Lord <fc T a ylor............ 1 0 0 125 1.3*5""
60
Incom e 5s 1930............
P re fe r re d .................luo 100 103 *a
6
12
44,412
90,663
$74,500
200,989
$296,187
628,488
Total______
Clue Sub way............... 10'
ULoriilard (P ) pret ...1 0 0 140 160
42
43
73*2 74
Ft W <fc Deu Cy std .,1 0
M ackay Companies ..10 o
98 105
69*s 70
P re fe rre d ................. lu o
Great Northen Ore Set Stk E x list
15
N Y N H & H a rtfo rd Madison Sq Garden.. 100
25
75
Con deb 3 >2 S i y 5t>. j & ; $110*1 111*2
2d Os 1919..............M-N
e> "*6 *2
UManhatt Beach Co. 100
N ortn’n Securities Stub
125 175
Manh Bell H otel <fc Land.
Penn, gu g 4 ^ % note
A W e e kly R e vie w o f O utside M a rk e t w i l l be f o u n d o n a p re c e d in g page.
P re fe r re d .................100
N o v 1 1907..........M<fcr $ 9S76 99*8
P uts Bessds E E .........C)i t 32
IfGen. g. 4 8 -iy iU ...M .N
35
S treet R a ilw a y s
S tr e e t R a ilw a y s
Ask
Ask
B id
P referred ................... 51 t 70
Manhattan T ransit___ 20 t 6*4
B id
75
t>
13
Pub Serv Corp of N J100
95 1 0 0
IJRailroad Securities Co.
M ex N at C onstru e.p fioo
N E W YO H K C IT Y
17
T r ctfs 2% to 6 % perpet
31
III. C. stk.tr. cfs.ser.A ’ 5'
M itchell M ining.......... 10 t 0*2
B le e c k S t* F u lF stk 100
33
63 >2 69*2
94
6 7o
Coll trust 5s gold notes
90
92
Seaboard A ir L ine—
Monongaheia R C oal..50 t . . . . . .
U1 st m ort 4s 1950 ..J-J
7
1909 option al....M -N i 94*2 95*2
P referred ................... 5 0 t 26
C olltr5 s 1907 op...M -l
99
HB’y & 7tli A v e stk ..10 0 230 238
99*2
N orth J ersey St R y 100
100 104
SeaboardCo___ see B ai E xcli list
50
M ortgage B ond C o ... 100
55
1]2 d m ort 5s 1914 ...J-J
97 i'0 2 "
1st 4s 1948........ M-N $ 75
Nat Bank of Cuba___100 105 112
Con 5s 1943 See Stock Exch list
76
Cons Trac of N J ...1 0 0
7 5 ** 753* In d u strial and .U iscel
National S urety.........l o o 170 190
.8 ’ way Surf 1st 5s gu 1924 $104 106
1st 5s 1933.......... J-D 5105*2 106
IJCent’l Crosst’n stk ._ 1 0 0 280 310
A hm eek M in in g......... 2 , 1105 110
Nevada Cons’d Copper.5 f 19
19-4
New’k Pas R y os ’ 30J-J i 112 113
A lliance K ealty.........loi
132 *i 137 h IINew Central C o a l___-ju
35
Hist M 6 s 1922 ...M -N 111 115
45
Rapid Tran St R y ..l0 0 245
196
A llis Chalmers Co 1st n
A CenPkN & E R stk . 1 0 0 iy o
N J T er Dock<fc Im p. 100
38
1st os 1921.......... A-O 5107
flChr’ t’r& 10th St fctk 100 165 170
s f 5s ’ iSUopt’ lti w i. J - . { 3134 82*4 N Y B iscuit 6s 1911.M-S 102
J C H ob & PatersonlOO
Col& 9th A y e 5s See Stock Excli list
A m erican B o o k .........10'
165 . . . . . . N Y M tge <fc Security. 100 185 1*9*5"*
4s g 1949............ M-N $ 70*4 71*4 A m erican B rass........ 10'
133
Dry D E B & B—
40
1iNew Y ork D o c k ___ 100
45
So J Gas E l & Trac 100 l i b
75
A m erican (Jan com,..10<
Hist gold 5s 193 2 ...J-D 108 110
53,
120
6
1iP r e fe r r e d ..............lo o
S3
P relerred ................. iqi
Gu g 5s 1953....... M-S $ 98 100
flScrip 5s 1 9 1 4 ___F-A 100 102
54*2 55
N Y T ransportation...2 0 r 4*2
6*13
1
1
0
N o H ud Co R y 6s’ 14J-J $108 110
Eighth A venu e s tk .. 100 370 385
Am erican Chicle Co. .10* 185 195
Niles-Bem-Pond com . 1 00
100 105
99 101
P referred ................. 101
5s 1928...................J-J $108 n o
IjScrip 6 s 1 9 1 4 ___ F-A
N ipissing M in e s ....... 5 t 14 ’ 14**9
42s,, 44
U42d& Gr St F ’y stk .. 100 375 400
E x t 5s 1 9 2 4 ....... M-N $101 103
A m Graphoplio com ..lO (
7*4
liOntano S ilv e r .........100
7*9
50
55
Pat City con 6 s ’31. J-D $118 121
83
70
P re fe r re d ............... 101
42d St 31 & St N A y .. 100
84
Otis E levator com ___100
55
94
2d 6 s___1914 opt A-O $100
Arne i- H ardw are........ l oi
115 118
1st m ort 6 s 1910 .M-S 102 105
P referred ................. 100
97
60
70
So Side E l (Chic) See C hicago list
Stk E x list Phoenix Securities.
2d incom e 6 s 1915 J-J
A m Ice Securities___Se
*
K t
’b
Syracuse Rap T r 5s 1940 $105 107
103 106
Inter boro-Metropoli tan—
A m M alting us l y u .J - E
P ittsburg B row ing___50 t 32
32 5b
A m er Press A ssoc’n.lOi
Common. See Stock E x cha’ ge list T ren t P & H 5s 1943J-D $102 104
95 100
P re fe rre d ...................50 t 50
51
E
xch
Preferred. See Stock Ex cha’ge list United R ys of S tL —
A m Soda Foun co m ..lo i
1
Pittsburg Coal See Stock
list
3
*2
Com vot tr c t f s ....... 100
42
4 >3 % bonds. See Stock Exch list
1st preferred............ loi
35
Pope Manufacturing.lOO
43*2
45
3
P referred............... 1 0 0
80
2d preferred............ loi
5
58
L ex A y & Pay F 5s see St k E x c list
1st p referred .......... 100
80»4
10
68
ten
4s
1934___
6
ee
8
tk
Exch
13
If Metropol Securities 100
A m er Steel Foundries—
2d p referred .......... 100
list
17
U m tliysSanF ran WeeStk Exch list
.u Os 1935............ AcfcO $ 93*2 95
M etropol Street Ry. 1 0 0 106 112
Pratt <fc W hitn p re f.. 100 97 100
W ash R y & E l C o .... 100
N inth A venu e s to c k .lo o 170 180
407e 41 H. A m erican su re ty .........5o 187 *v 192*2 Public Serv Corp of V a—
P referred ................. 100
95
Second A venu e stocklOO 190 198
1st m g 5s J uiy 1936 opt
86*4 86*2 American Tiiread p re f.,5 I
4*2
5
97*9
4s 1 9 5 1 .................... J-D
85 “ti 85 \ A m T o b a c(n e w ) co
U lstm ort 5s 1909 M-N §100 102
Realty assoc (B k iy n )lu o 155 160
360 370
UW est Chicago S t ___100
P reld.......... See
___ Excli list Royal Bak Powd pre f.100 104 108
25
29
Consol 5s 1948___ F-A 4110 112
IjCon g 5s 1936....M -N X ........ 70
Sixth A venu e stock 100 168 173
4s and Os........ See Stk Excli list Safety Car H eat& L t l o o 280 290
Seneca M in in g .......... 25 f .........
ou Boulev 5s 194 5 ..J-J $100 104
Am T ypefo’ rs c o m ...lo o
38
40
Cias S ecu rities
P referred ...........
Singer M lg Co............ lu o 4t>0 5*0*0**
S o F e r 1st 5s 1919...A -O $105 106
98 101
NEW YO EK
Third A venu e See Stock Exch list
Standard Cordage___100
A mer W riting Paper. 100
10*2 13
2 *2
3
P re fe rre d ................. joo
ls tM .g .5 s .’3 ir e d ..A O 54
Tarry W P & M 5s 1928 $102 104
Cent Un Gas 5s g ’27.J&J S-1 0 1
103
25
26
56*9
YkersStRR 5s 1946A -0 $ 1 0 0 102
Con Gas (N Y )s tk . See St k E xc h list
1 st sf g os ’ 19 op ’ 09. J - J
Adj us t.M.os. A pr 1,1931
84
17
84*2
18*9
28th <fc 29th Sts 1st os ’ 96 $104 107
Conv deb 6 s ctfs <S'eeStk E xch list
TJBarney & Sm Car ...1 0 0
72
Standard Coupler co m l00
68
48
...
P
referred
.........
ly
y
HTwenty-Th’d St stk 100 375 400
I.Preterred...............
l
o
o
IjMutual G a s ..............lo o 165 200
150
120 1*3*0**
Union R y 1st 5s 1942 F-A $105 107
N ew Amsterdam Gas—
IJBetlil’ m Steel Corp .100
Standard M illing Co’ lOO
18*2 '2 1
6
9
W estcliest 1st 5s ’ 43 J -J $100 105
^ P re fe rr e d ..............lo o
P referred .........
1st consol 5s 194 8 ..J-J $ 98 1 0 0
100
70
6 ti
27
32
B E O O K L YN
N Y & East R iver Gas—
1st ext 5s —See Stk E x chang e list
1st 5s 1 9 3 0 ___ k -N
75
78
1st 5s 1944............... J-J $103 107
Atlan A v e 5s 1 90 9 ..A-O $ 99 101*2
Bliss Company com ___50 140 115
Standard Oil of N J ..1 0 0 535 540
Consol 5s 1945.........J-J $ 98 1 01
.....
P referred .................. 5 0 130 134
Con 5s g 1931.........A-O $106
Sw ift & Co See Boston St k E x c h’ge
98 100
N Y & Richm ond Gas.100
BB<fc W E 5s 1933..A-O
B o n d * M tg G oa r___100 375 385
38
1st 5s 1910-1914...J -J $102 105
N or Un 1st 5s 1927.M-N $100 1 0 2 " Borden’s C o n d K ilk .. 100 175 185
Brooklyn City s to c k ... 10 220 225
le n n e s se e Copper....... 25 t 53
53*9
^Standard Gas com ..10 0 1 0 0 1 1 0
Con 5s See Stock Exch list
P referred ................. 1 0 0 110 115
liTexas & P acinc Coal 1 0 0 i 74
^ P r e fe r r e d ..............100 1 0 O 1 2 0
Bkln Crosstn 5s 1908. J-J 100 102
British Col C opper........ 5 f 14*4 1434
1st 6s 1908............. A-O $105 iio**
1st os 1930............ M-N 104 108
Bkn H gts 1st 5s 1941 A-O 103 107
38
B utte Coalition M in .. 15
Title Ins Co of N Y ..1 0 0 175 185
3 <*2
2
O T H E R CITIES
Bkln Q Co & Sub See Stk E xch list
5
Casein Co of A m com., lo o
Tonapah Min (Nevada). 1 t 19
20
Bkiyn Rap Tran See Stk Excli li3t
A m er Light & T ra ct.100 108 111*2
P referred ................. 10i
75
85
14
17
IreutouP otteries comlOO
220
P referred ................. 100
TjConey Is. & Bklyn ..10 0
Casualty Co of A m er. 100 120 130
93
97
99
Preferred new ___ 100
98
90 ‘ *93*’ Bay State G a s ..............50
1st cons g 4s 1 94 8 ..J-J
39
49
“ lo
34 Celluloid Co.................lOo 136 139 T row Directory new ..100
15
B rk C <fc N 5s 1939.J-J 106
Bingham ton Gas os 1938 i 96 1 00
Cent Firew orks co m .100
18
Union C o p p e r..............10 t
7b 1
Gr’ pt cfcLorimer St 1st 6 s 103
Brooklyn U nion Gas deb
68
73
85
Preferred.................. 100
Union T ypew r co m .. 100
90
K ings Co. Elevated—
6 s 1909 con v ’0 7 ...M -S 1 2 0
Central Foundry....... 100
0 '\j
3*4
130
1st pre/erred............ 1 0 0 118 122
1st 4s 1949 See Stock E xcli list
Buffalo City Gas stocklOO
P re fe rre d ................. 100
16*2 17*4
6
2d preferred............100 118 122
9
65
75
Nassau Eleo pref....... 100
1st 5s 1947 See Stock E xch list
Deb 6s 1919 op ’01M-N
72 *2 73
United B k N oteC orp ..5 0 f 60*i
os 1944.................... A-O 105
Consoi Gas of N J—
Central L eather.........Sec Stk E x list
*65**
Preferred ............... 50 t 62
1st 4s 1951...........See St k E xc h list
Century K ealty.........100 195 200
HUnitedJigarM fg.,pf.luO
91
1st os 1930............... J-J i 90
95
92
74
Cnesebrough M fg Co 100 420 440
N W b’ g & Flat 1st e x 4 12 S 100 104
Consumers’ L H & P ow —
United Copper............ 100
74**
Stein way 1st 6 s 1922. J-J $110 114
90
Chic Pneum Tool. See Ch icasjo list
5s 1938...................... J-D $103 106
P re fe rre d ................. 100
95
O T H E R C IT IE s
City Investing Co— lo o 100 105
Elizabeth Gas L t C o ..100 •275
U S. C asualty............lOu 225
Buffalo Street R y—
40
Essex <fc Hudson Gas 100 122 i*24*' TJClaiiin (H B ) com ---- 100 104 110
U S Envelope com — lo o
100
1st consol 5s 1 93 1 ..F-A $110 111
•j 1st prelerred.........l o o
1, P referred............... 100
Fort W ayne Os 192 5 ..J-J
45
101
93
50
1i2d preferred.......... 100
Deb 6 s 1917............ A.O $105 . . . . . . Gas & El Bergen C o.. 100
U S R ub 2d pf See Stock Kxcli list
56
93
60
U s Steel Corporation—
Chicago City R y
See C hicago list
Colo Industrial. See Stoc k Ex list
Grand Rapids Gas—
Col tr s f 5 s ’ 51 o p t ’ 11 .. 5112 1123«
Columbus (O) St R y ..l0 0 101*2 103
111st 5s 1 9 1 5 .......... F-A $102 103
Col & H ock C oal* 1 pt 100
74
76
P referred ................. 100 108*2 110*2 Hudson Co Gas...........100 113 114
1st g 5s 1917.........J.J i 82
C o ltrs f 5s ’ 51 not o p t.. $112*4
85
Colum R y con 5s See Ph Ua list
Col tr 6s O ct 1956..J-J
Indiana Nat & 111 Gas—
110*
97 101*2 LI S T it Gutfc Indem .100
Crosst’ wn 1st 5 s ’33.J-D $107 109*2
1st 6 s 1908............ M-N
Utah Copper C o.......... 10 f 36*2 37
Cousolid Car H eating lo o
22
55
25
60
W eslcuusler
B ronx
Grand Rapids R y ___ 100
Cons B y L tg & K e fn g .lo o
67
Indianapolis Gas.........50
70
67
72
4
2*2
P referred ................. 100
T itle <fc M ort G u a r.100 175 183
87
1st g os 1952.......... A-O $ 93 1 0 0
90
Consol K ubber T ire . .1 0 0
4H.
4
W estingh A ir B rake..50 1155*2 .........
Lake St (Chic) El
See C hicago list
P re fe rre d ................. 1 0 0
Jackson Gas 5s g ’3 7 .A-O $ 95 1 00
18
14
IJLouisv St 5s 193 0 ..J&J $110*2 Ill's , Kansas City Gas.........100
Debenture 4s 1951 A&O . 35
38*2 1•[West Klee <fc M fg—
Lynn<fe Bos 1st 5s ’ 24.J-D $107*2 110
Con sf 5s See Stock E xc h. list.
11Laclede Gas..............1 0 0
Cons Storage B atteryioo
loo”
8
11
UNew Orl R ys & Lgt. 100
32
W hite Knob M m .........lu
33
U P referred .............. 1 0 0 *9*2*
Corn Prod Kef See Stock E xch list
"s
3<
U Preferred..............100 x * 0
Cramps’ Sli & Bn B ld g lo o
80*4 Lafay’ eG aslst 0s’24.M-N
44
2 0 | Preferred.................... 10
5*6
3*s
15
3*«
1f G e n M g 4 *2 S ’35
See Stk E x list L og& W abV ls t 6 s ’25.J-D
i,CruciOle Steel.......... 1 0 0
30
35
1 1 ^ 11^4 W orthing Pump pref.100 11& 118
N orth Chic Street See C hicago list Madison Gas 6 s 1920.A-Ol $106*2 1 10
P re fe rre d .............. 1 0 0
77*-. 77 <8
{B u y e r pays a ccr’d int. fP n c e p e r s h . tSale price, o iix-riij li t s x Kx-di v. i N ow stock. ilSells on S :’ k Exch., but not a ro ry active security.

pVolume of Business at Stock Exchanges

Outside Securities

?

S

S




G a s S e cu ritie s
N ew ark Gas 6a 1944. QN ew ark Consol G a s ..10
U C o n g o s 1948....... J-1
N o H udson L H & Pow5s 1 9 3 8 .................... A-i
1JO & Ind C Nat <fc 111 .10
1st 6s 1926..............J-]
Pat & Pas Gas & EleclO
II C o n g 5s 1 9 4 9 ....M St Joseph Gas os 1937.JTelesrr tfc T elep h on e
1}AmerTeleg<fc Cable 10
1tCentral& S o A m er. 10
Commer Un T el (N Y ).2
Emp & Bay State Tel 10
F ra n k lin ...................... 10
HGold & S t o c k .......... 10
Hudson R iverT elepli 10
TIN Y & H J T e le p h ... j.0
11N orthwestern T eleg. 5
Pacilic & A tlantio....... 2
1iSouthern <fc Atlantio 2

B id

A sk

97

THE CHRONICLE.

J a n . 12 1907.]

RAILROAD

GROSS

EARNINGS.

The following table shows the gross earnings of every STEAM railroad from which regular weekly or monthly returni
can be obtained. The first two columns of figures give the gross earnings for the latest week or month, and the last two
columns the earnings for the period from July 1 to and including such latest week or month. We add a supplementary
statement to show the fiscal year totals of those roads whose fiscal year does not begin with July, but covers some othej
period. The returns of the street railways are brought together separately on a subsequent page.
Latest G ross E a rn in g s.
W eek or
M o n th .

ROADS.

A la G reat Sou th ern
A la N O & T e x P a c.
N O i N E a s t ___
A la & V icksburg-.
V ick s b u rg Sh & P
A la T e n n & N o r t h . .
k A tch T o p & S F e .
A tla n ta & C h ari----A tla n B irm & A t l ’c .
A tla n tic Coast Line
B a ltim ore & O h i o . .
B a n gor & A r o o sto o k
B elleforu e C en tra l. .
B rid g eton & S a co R
B u ff R o c h & P it t s . .
B u ffalo & S u s q ____
Cal N orth w estern _ .
C a n adian N o rth e r n .
C a n adian P a c llic ___
C en tral o f G e o rg ia . .
Cen tral o f N J e r s e y .
C h atta n S o u t h e r n ..
Chesapeake & O h io .
C hesterfield & Lane
C h ica g o & A lt o n R y
C h ic G reat W estern
C h ic In d & L o u ls v .
C h ic In d & S outhern
C h ic M llw & St Paul
C h ic & N o rth W e s t .
C h ic S t P a u l M & O .
C h ic T erm T r R B . _
Cln N O & T e x a s P a c
CInclnnat' N orth ern
C lev Cin C h ic & S t L
C o lo r a d o M id la n d ..
ftCol & S ou th S y s ._
Col N e w b & L a u r ..
C op p er R a n g e ______
C o r n w a l l ___________
C ornw all & L eb an on
D en v er & R io G r . .
D e tr o lt & M a ck in a c
D e t T o l & Ir o n t Sys
D u l R L & W In n lp .
D ul S o S h ore & A t l .
E r i e ..............................
E v a n s v ille & T e r H
F a irch ild & N E ___
F o n d a J o h n st & G l.
G eorgia R R ________
G eorgia C oa st & P ’ t
G eorgia S o u t h * Fla
G rand T ru n k S y s . .
G r T ru n k W e s t . .
D e t G r II & M llw
C an ada A tla n tic _
G rea t N o rth e r n ____
M on tan a C en tra lT o ta l s y s t e m ____
G u lf & Ship Is la n d .
H o ck in g V a lle y ____
Illin ois C e n t r a l____
In ter & G r N o r t h . .
a ln te r o c e a n lc (M ex)
I o w a C e n t r a l_______
K anaw ha & M ic h ..
K a n C ity S o u th e r n .
L a k e E rie & W e s t ’ n
L a k e S h ore & M Sou
L eh igh V a lle y _____
L e x in g to n & E a s t . .
L o n g Is la n d ________
L ou isian a & A r k a n .
L o u is v ille & N a s h v .
M a con & B i r m ln g ..
M an lstco & N o E . . .
M a n lstlq u e _________
M a ryla n d & P e n n ..
a M ex ica n C e n tr a l. .
a M exica n I n te r n a t.
a M ex ica n R a ilw a y .
a M exica n S ou th ern
M ichigan Cen tral
M ineral R a n g e ...........
M inneap & St L ou is
M inn S t P 4 S S M .
Mo K a n & T e x a s ___
Mo P a c & Iron M t ._
C en tral B r a n c h ..
T o t a l ------------------> M ob ile J a ck & K C
M obile & O h io
Nash C h att & St L .
2 N a t R R o f M exico
H id a lg o & N E ._
Nev-Cal-O reiron------N evada C en tra l-------

C u rrent
Y ea r.

July 1 to Latest D a te.
Current
Y ear.

P rev io u s
Y ea r.

1,013,012
766,671
805,551
18,024
37,6 7 2 ,9 6 2
1,417,310
636,205
10,1 7 8 ,0 3
3 5 ,0 3 1 ,1 9 6
1,2 9 4 ,1 2 6
23,887
22,833
4 ,4 0 2 ,0 3 0
751.04S
957 ,095
4 ,0 2 3 ,2 0 0
38 ,462,375
6,1 2 0 ,6 7 7
11,190,977
78,666
10,531,746
19,144
5,5 5 7 ,5 0 9
5,1 6 3 ,8 8 7
3,0 9 4 ,9 0 3

1,3 9 1 ,3 9 0
050,214
578 ,465
10,892
3 2 ,8 6 7 ,2 1 8
1,367,457
450 ,460
9,2 9 7 ,7 0 5
3 2,159,888
969 ,208
26,067
23,922
4,775,231
654,871
975,771
2 ,7 7 2 ,0 0 0
32,3 5 1 ,7 9 4
5,8 8 0 ,0 8 9
10,716,091
65,956
9 ,8 1 6 ,3 2 6
15,333
5,1 7 3 ,4 6 0
4 ,7 1 0 ,1 7 3
3,1 1 8 ,6 3 8

— See S ou t hern R ail w a y .
D ece m b e r
D ece m b e r
D ece m b e r
N ovem ber.
N ovem ber.
O cto b e r _ .
N ovem ber.
N ovem ber.
N ovem ber.
N ovem ber.
N ovem ber
N ov e m b e r
1st w k Jan
N ovem ber.
D ece m b e r
1st w k Jan
1st w k Jan
4 th w k D ec
N ovem ber.
4 th w k D ec
N ovem ber.
N ovem ber.
N ovem ber.
1st w k Jan
4th w k D ec
See N ew
N ovem ber.
N ovem ber.
N ovem ber.
l s t w k Jan
— See S out
— See N ew
— See N ew
N ovem ber.
4th w k D ec
N ovem ber.
O cto b e r .
N ov e m b e r
N ovem ber.
1st w k Jan
4th w k D e c
4th w k D ec
N ovem ber.
4th w k D ec
N ovem ber.
— See R o c k
N ovem ber
N ovem ber.
N ovem ber
N ovem ber
— See S ou t
4 th w k D ec
3d w k D e c
3d w k D ec
3d w k D e c
D ece m b e r
D ece m b e r
D ece m b e r
4th w k D e c
N ovem ber.
D ece m b e r
1st w k Jan
4th w k D e c
1st w k Jan
N ovem ber.
N ovem ber.
— See N ew
See N ew
N ovem ber.
N ovem ber.
N ovem ber.
N ovem ber.
4th w k D e c
D ece m b e r
O cto b e r . .
D ece m b e r
N ovem ber.
N ovem ber.
4th w k D e c
3d w k D ec
3d w k D ec
— See N ew
4th w k D e c
1st w k Jan
4th w k D e c
1st w k Jan
1st w k Jan
1st w k Jan
1st w k Jan
S ep te m b e r
— See S o u t
N ovem ber.
4th w k D e c
4th w k D ec
D ece m b e r
O cto b e r

2 5 7 ,1S4
300,327
153,848
137,960
127,913
153,740
3,034
4,069
7,9 1 6 ,4 8 3 7,1 4 2 ,3 1 6
378,469
3 73,844
130,121
81,391
2,2 5 9 ,3 7 5 2 ,115,770
6,9 2 5 ,9 5 5 6,591,374
188,628
2 87 ,062
5,285
5,973
3,512
3,947
160,022
146.400
131,926
1 53,916
119,241
1 28,863
78,800
107,100
1 ,059,000 1 021,000
322,244
339,507
2 ,193,861 2,0 7 8 ,0 7 6
2,792
3 ,348
2,1 1 1 ,2 3 6 2,033,482
3,404
4,320
1 ,058,S49 1,043,404
128,123
121,823
140,520
139,531
Y o r k Ceil tral.
5,2 0 0 ,3 8 2 4,9 7 2 ,5 8 9
5 ,9 2 9 ,3 0 8 5,0 3 0 ,9 2 0
1,293,610 1,254,120
28.074
32,405
hern
R a ilw a y .
Y o r k Cen tral.
Y o r k Cen tral.
220.057
199,506
325,941
285,333
27,482
26,005
67,162
62,679
16,993
15,194
38.074
38,652
328,800
366.400
34,987
30,379
123.058
125,107
23,203
28,459
62,193
89,153
4,0 3 6 ,2 3 5 .4 ,41 1,2 20
Isla n d S lystem .
I
2,479
1,8

,

277,432t
250,228
7,700|
hern R a il;w a y .
1 ,2 3 0 ,148i 1 ,173,078
100,133;
90,059
42,90S
33.78S
2 7,20:'!
27,014
3,6 5 9 ,1 7 s , 101 ,019
256,823
235,678
3 ,8 9 4 ,8 5 0 4,3 5 7 ,8 4 2
45,195
54,010
587 .995
564,082
4,937,8U 2 4 ,6 5 4 ,5 6 4
138,500
107,000
165,624
208 ,019
53,984
52,804
195,774
180 ,442
762 ,706
677 3 7 5
Y o r k Cen, tral.
Y o r k C e n ]tral.
2,943,0091 3,07 4,5 56
4 3,314 j
40,683
I n c . 7 9 ,]064
88,5931
76,151
1,1 2 7 ,7 0 0 1,062,572
15,319
13.625
26,098
26,195
4,448
5,067
29,409
31,020
2 ,574,375 2 ,152,430
183,829
192,891
127,200
143,700
24.626
26,598
Y o r k Cen tral.
18,075
20,277
55,855
62,064
280 ,680
226 .970
312,165
440 .970
585 .000
679.000
23,000
24,000
008.000
703 .000
64,761
108,413
hern R ail w ay.
904 ,160
913 ,227
476,712
439 ,473
26,443
*14,156
17,605
5,430
8,558

26,4 6 9 ,9 2 6 24,2 5 6 ,1 7 2
30,1 6 2 ,9 0 5 2 7,841,378
6,123,360 5,848,561
903,155
900 ,756

917,945
1 ,100,408
0 ,759,026 6,0 1 5 ,2 8 4
116,933
126,638
236 ,150
281,279
77,228
93,872
191 ,038
209,948
11,192,188 1 0,441,908
539 ,808
627 ,210
2 ,1 6 4 ,0 1 3 2 ,0 9 9 ,7 1 0
84,274
141,644
1,693,380 1,5 5 3 ,0 0 2
22,830,681 2 1 ,621,519
7,461
364,000
1,279,101

10,523
337,149
1,2 0 3 ,0 7 6

22,6 4 9 ,1 4 9
2,9 4 4 ,0 3 7
891,728
1,0 4 9 ,1 3 5
2 9 ,130,425
1,438,821
30,5 7 5 ,2 4 0
1,170,428
2,9 9 7 ,5 2 5
2 7 ,9 2 1 ,4 1 0
4,674,561
3 ,4 4 7 ,4 7 9
1 ,667,025
988 ,995
3,606,574

20,7 4 9 ,6 0 5
2 ,0 8 1 ,9 5 0
762,391
1,0 1 6 ,8 9 8
2 6 ,750,189
1 ,379,297
28,1 2 9 ,4 8 0
904 ,587
2,857,731
25,319,221
3,8 0 7 ,0 3 5
2,901,838
1 ,578,163
905,907
2,9 5 7 ,6 2 6

Latest G ross E a rn ings.

N Y C & H u d R iv e r
L a k e Sh & M S . .
L a k e E rie & W est
Ohio In d & S o u .1 .
M ich ig a n C e n tra l.
Cl e v e C C & St L .
P e o ria & Eastern
C in cin N o r t h e r n .
P itts & L a k e Erie
R u t l a n d _________
N Y C h ic & St L .
N Y C h ic & St L ou is
N Y O n t & W estern
N Y Su sq & W e s t ..
N o r fo lk & W e s te rn .
N o rth e rn C e n t r a l..
N o rth e rn P a c ific ___
P a cific C oa st C o ___
d P e n n — E a st P & E
(iW est P & E ____
P e o ria & Eastern
P h ila B a lt & W a s h .
P h ila d e lp h ia & Eric
P itts Cin C h ic & S tL
P itts & L a k e Erie
R a le i g h * S o u th p o rt
R e a d in g R a i l w a y ..
C oal & Iro n C o _ .
T o t a l b o th c o s ___
R ic h F r e d ’k s b ’g & P
R io G ra n de J u n e ___
R io G ra n de S o u t h . _
R o c k Isla n d System
e S t L & San Fran
1 Evans v & T er H
T o t a l o f all lin e s .
R u tla n d
St J os & G ra n d I s l.
St L & San Fran
St L o u is S o u th w e s t.
S e a b o a rd A ir L i n e . .
Sierra R a i l w a y ____
S o u th e rn In d ia n a . .
cS o u th e rn P a cific Co
S o u th e rn R a il w a y ..
M o b ile & O h i o . . .
C in N O * T e x P .
A la G rea t S o u t h .
G a S o u th & F l a . .
T e x a s C e n tr a l_____
T e x a s & P a c ific ____
T id e w a te r & W e s t .
T o le d o & O h io Cent
T o le d o P e o & W e s t .
T o le d o St L & W est
T o m b lg b e e V a l l e y . .
T o r H a m & B u ffalo
U n io n P a cific S y s t .
V irg in ia & S o W e s t .
W a b a s h ____________
W e s te rn M a r y la n d .
W e s t Je rse y & S ea’e
W heeling- & L a k e E
W ’m s p o r t & N B r . .
W isc o n s in C e n tr a l. _
W r ig h ts v & T en n __
Y a z o o & M iss V a lle y

W eek or
M on th .

C u rrent
Y ea r.

P revio u s
Y ea r.

N ovem ber.
N ovem ber.
N ovem ber.
N ovem ber.
N ovem ber.
N ovem ber
N ovem ber
N ovem ber.
N ovem ber.
N ovem ber.
N ovem ber.
— See N e w
N ovem ber.
N ov cm b er.
N ovem ber.
N ovem ber.
N ovem ber.
O cto b e r . .
N ovem ber
N ovem ber.
— See N ew
N ovem ber.
O cto b e r . .
N ovem ber.
— S ec N ew
N ovem ber.
N ovem ber.
N ovem ber.
N ovem ber.
S e p te m b e r
O c to b e r _ .
4th w k D ec
N ovem ber.
N ovem ber.
N ovem ber.
N ovem ber.
— See N ew
O cto b e r _ .
— See R o c k
1st w k Jan
O cto b e r
N ovem ber
D e ce m b e r
N ovem ber
4 th w k D ec
3d w k D ec
3d w k D e c
3d w k D ec
N ovem ber.
3d w k D ec
1st w k Jan
S e p te m b e r
N ovem ber.
4th w k D ec
4th w k D ec
N ovem ber.
N ovem ber.
N ovem ber.
D e ce m b e r
1st w k Jan
1st w k Jan
N ovem ber.
4th w k D ec
O cto b e r . .
O cto b e r . .
N o ve m b e r.,
D e ce m b e r

8,0 8 2 ,3 4 0
3,4 3 5 ,5 5 0
415,40
202,000
2,3 5 2 ,1 3 2
2 ,0 5 6 ,8 9 3
253,781
82,194
1,261,897
233 ,420
800,107
Y o r k Cen
639,174
220,842
2 ,5 6 3 ,6 4 0
1,058,937
5 ,081,054
654,459
131 21717
In c . 53
Y’ o rk Cen
1,415,059
820,773
2 ,528,928
Y'ork Cen
9,071
3,643,304
3,7 8 1 ,5 3 0
7 ,4 2 4 ,9 0 0
120,724
79,897
15,010
5 ,0 7 1 ,1 9 3
4 ,1 3 6 ,9 2 2
01,080
9 ,4 0 9 ,1 9 5
Y o r k Cen
163,055
Isla n d Sv
186,709
1,387,384
34,835
135,619
11224818
1,477,512
193,779
151,089
78,068
184,599
23,299
316 ,105
6,357
399,284
43,064
97,775
4 ,84'J
65,146
0 ,646,596
76,944
461 ,880
88,976
331 ,063
124,020
12,764
662,119
2 1,154
9 77 ,7 9 6

7,6 3 3 ,7 8 7
3,4 1 1 ,4 4 2
471,554
189,265
2 ,167,858
2,0 5 5 ,7 2 5
3 12,052
6 8,535
1 ,213,165
214,476
7 53 ,619
tral.
620,628
236,771
2 ,2 0 9 ,3 0 4
965,637
5 ,9 4 9 ,7 3 9
582 ,824
12 516317
1,800
tral.
1,302,659
797,843
2 ,4 6 1 ,5 1 8
tral.
5,363
3 ,018,960
4 ,2 3 9 ,2 3 0
7 ,8 5 8 ,1 9 0
119,915
63,894
15,958
4 ,5 5 3 ,4 3 8
3 ,852,288
191,310
8 ,5 9 7 ,0 3 6
tral.
135,424
stem .
146,418
1,290,127
28,713
119.372
9,6 1 8 ,7 0 0
,450,269
154,686
148,924
69,730
160,791
21,790
238,233
7,605
365 ,276
39,166
92,307
4,117
62,243
,109,535
7 6,485
4 20 ,507
73,526
2 90,063
133,653
13,538
6 49,150
18,827
9 30 ,522

45,305
101,644

51,081
166,467

3 .8 7 1 .2 9 9
3.4 0 9 .3 0 0
582,507

3 ,2 7 6 ,6 7 6
2,9 7 8 ,3 0 0
550 ,080

384 ,487
398,128
2.0 2 6 .1 2 7 2,0 7 5 ,9 1 9
6 .7 4 2 .1 2 7 6,1 4 9 ,7 2 5
1 3 ,777,505 11,648,570
24.4 9 0 ,5 6 9 2 2,234,509
803,322 1,001,313
25,353,891 2 3,295,882
188,750
343,459
4 ,7 1 3 ,8 8 3
7 ,3 8 2 ,4 2 4
506 ,710
152,848
28,012

4 ,3 0 6 ,9 7 4
6 ,6 4 5 ,3 7 5
130,501
17,169

595 ,300

541,951

5 ,5 2 8 ,6 9 3
4 ,933,522
200,464
8 30 ,050
5 0,810,482
2 8,302,368
4 ,7 5 8 ,0 5 6
4,081 ,148
1 ,S85,605
893,935
560 ,205
8 ,5 1 0 ,4 2 6
22,446
2 ,1 4 3 ,1 8 2
6 46,416
2,103,941
2 4,598
326,941
32,6 0 7 ,2 1 5
4 97 ,098
1 4 ,6 0 2 ,6 1 6
2,7 6 9 ,2 2 3
2,7 5 3 ,5 3 2
3 ,13G ,044
0 2,808
2 ,602,781
99,360
4 ,6 0 8 ,2 5 2

4 ,7 4 1 ,1 6 7
4 ,7 1 5 ,5 2 7
156,078
7 25 ,8 8 8
44,6 7 4 ,0 0 5
26,6 0 4 ,4 4 2
4 ,2 1 6 ,2 3 7
3,7 8 8 ,2 8 1
1 ,7 3 3 ,9 2 5
7 70 ,563
4 83 ,006
6 ,7 2 2 ,6 3 7
21,099
1 ,871,420
6 89,279
2 ,1 3 1 ,5 1 9
18,561
3 00 ,3 9 7
3 0 ,2 4 1 ,8 8 5
4 7 8 ,7 3 0
1 3 ,1 0 9 ,1 6 4
2 ,3 8 0 ,2 9 3
2 ,5 5 1 ,5 3 2
2 ,8 9 3 ,0 5 6
07,021
2 ,4 9 1 ,3 6 6
9 1,5 2 5
3 ,8 9 0 ,4 0 0

P eriod .

V a rio u s F is c a l Y ears.
15,552,713 14,563,588
220,876
237 ,088
In c . 531 , 785
380,329
507.634
23,8 0 7 ,3 3 6 21 ,082,679
84,572
82,000

J u ly 1 to Lalst D a le.

A tla n ta & C h a rlo tte A ir L in e ___
B e lle fo n te C e n tra l_______________
M anistee & N o r th e a s te r n .______
M a n ls t lq u e ___________ * __ 2 , ____
M e x ica n R a ilw a y ___
M ex ica n S o u t h e r n _______T'J.____
N ew Y o r k C e n tra l_______________
L ake S h ore & M ich S o u th e r n .
L a k e E rie & W e s t e r n ________
I C h ica go In d ia n a & Sou th ern
M ich igan C e n tra l_____________
C leve Cin C h ic & S t L o u is ____
P e o r ia & E a s te r n _____________
C in cin n ati N o r t h e r n _______
P itts b u r g h & L a k e E r ie ______
R u t l a n d _______________________
N Y C h ica g o * S t L o u is ______
N o rth e rn C e n tra l________________
<1 P e n n — E ast o f P itts & E r ie ___
rf W est o f P itts & E r ie ________
P h ila B a ltim o re & W a s h in g to n .
P h ila d e lp h ia & E r ie _____ ______ _
P itts Cin C h ic & St L o u is _______
R io G ra n de J u n c t io n ____________
T e x a s & P a c i f i c _________________
W e st Jersey & S e a sh o re________

M ch
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
D ec
Jan
Jan

1

1
1
1

to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to’
to
to
to
to
to
to
to
to
to
to

O ct
N ov.
O ct
D ec
D ec
D ec
N ov
N ov
N ov
N ov
N ov
N ov
N ov
N ov
N ov
N ov
N ov
N ov.
N ov
N ov
N ov
O ct
N ov
O ct
Jan
N ov

AGGREGATES OP GROSS EARNINGS— Weekly and Monthly.
M on th ly S u m m aries.
4th w eek
1st w eek
2nd w eek
3d %veek
4th w eek
1st w eek
2d w eek
ftd w eek
4th w e e k

O ct
N ov
N ov
N ov
N ov
D ec
D ec
D ec
D ec

(39
(44
(43
(44
(45
(41
(43
(41
(39

r o a d s ) ------r o a d s )------r o a d s ) ------r o a d s ) ------r o a d s ) ------r o a d s )------r o a d s )____
r o a d s ) ------r o a d s ) ____

C u r’nt Y ea r P rev’ s Year. I n c . or D ec .
$
16 ,733,537
1 0 ,5 0 9 ,8 4 9
11,0 2 8 ,0 7 2
11,104.251
14.843,402
9 ,0 1 2 .2 7 7
1 0 ,164,107
9 ,0 4 3 ,0 8 6
14,365,803

S
14,2 6 3 ,1 6 0
9 ,5 8 4 ,7 5 2
9 ,9 3 8 ,0 0 2
1 0,4 9 6 ,5 9 3
13,763,769
8 ,0 8 9 ,3 4 2
9 ,5 3 1 ,7 0 5
0 ,331,461
13,1 6 2 ,8 2 9

+
+
+

+

%

S
2,4 7 0 ,3 7 7 17.39
+ 9 2 5 .0 9 7 9.65
1 ,090,070 10.97
+ 697 ,658 6.64
1 ,079,633 7.84
+ 9 2 2 ,9 3 5 10.27
+ 632,402 6.63
+ 611,625 6.55
1,202,974 9 .1 4

M o n th ly S u m m aries.
M o n th
M o n th
M o n th
M o n th
M o n th
M o n th
M onth
M o n th
M o n th

M ch
A p ril
M av
Ju n e
J u ly
Aug
S ept
O ct
N ov

1906
1906
1906
1906
1906
1900
1900
1906
1906

(110
(111
(124
(113
(117
(118
(122
(119
(69

roads) .
ro a d s ).
road s) .
r o a d s ).
roads) .
roads) .
roads)
r o a d s ).
ro a d s ).

C u r ’ nt Y ea r P r e v ’ s Year. I n c . or D ec.
S
159,258,S 90
13 6 ,685 ,53 7
15 2 ,183 ,74 2
146,010,301
168 ,336 ,46 1
179 ,191 ,94 5
18 4 ,551 ,47 1
19 8 ,733 ,22 9
S 7 ,119,750

S
14 3 ,978 ,44 0
128 ,005 ,77 5
1 3 8 ,5 5 7 ,8 7 2
130 ,233 ,29 3
1 48 ,013 ,50 5
1 5 9 ,835 ,02 2
171 ,553 ,52 0
179 ,405 ,26 7
83,2 5 0 ,0 8 4

S
+ 15,280,450
+ 8,6 7 9 ,7 6 2
+ 1 3,625,870
+ 1 5,777,008
+ 20,3 2 2 ,8 9 6
+ 19,3 5 6 ,9 2 3
+ 12,997,951
+ 19,327,962
+ 3 .8 6 9 ,6 6 0

10.01
0.78
9.8 3
12.11
13.73
12.11
7.58
10.77
4.65

a M exica n c u rre n cy ,
b In clu d es earnings o f G u lf & C h ica g o D iv isio n ,
c In c lu d e s th e H o u sto n & T e x a s C en tral an d its su b sid ia ry lines in b o th
rears. <l C ov ers lines d ir e ctly o p e r a te d , e In clu d e s th e C h ica g o & E a stern Illin ois in b o th y ears.
1 In clu d e s E v a n s v ille & In d ia n a R R .
ft In clu d es
taraings o f C ol. & S o u t h .. F t . W o r th * D e n v e r C ity and all a ffilia te d lin es, e x c e p tin g T r in ity & B ra zos V a lle y R R .
fe In clu d es in b o t h years earnings
O en ver E n id & G u lf R R ., P e c o s S ystem an d S an ta F e P r e s c o tt & P h o e n ix R y .
I F igu res p rio r t o A p ril 10 1905 are th o s e o f th e In d ia n a Illin ois & Io w a
knd In d ia n a H a r b o r o f In dian a.




98

THE CHRONICLE.

Latest Gross Earnings by Weeks.— In the table which
follows we sum up separately the earnings for the first
week of January. The table covers 16 roads and shows
14.03% increase in the aggregate over the same week last
year.
In crea se. D ecrease.

F ir s t w eek o f J a n u a ry .
$
160
78
1,021
121
32
328
107,
53,
551
312,
585,
23,
146,
238,
420
73

B u ffa lo R o c h e s te r & P itts b u r g h
C a n ad ian N o r t h e r n ______________
C a n adian P a c ific ________________
C h ica g o G rea t W e s te rn __________
C h ica g o T e r m in a l T r a n sfe r ______
D e n v e r & R io G ra n d e ___________
In te r n a tio n a l & G t N o r t h e r n ___
I o w a C e n tra l____________________
M in n ea p olis & St L o u is _________
M issouri K a n sas & T e x a s _______
M issouri P a cific & Ir o n M t n . . '- Cen tral B r a n ch _______________
St L ou is S o u th w e s te r n __________
T e x a s & P a c ific __________________
W a b a s h ___________________________
W e s te rn M a r y la n d _______________
T o t a l (16 r o a d s ) _________
N et in crea se ( 1 4 . 0 3 % ) ____

4 ,2 8 6 ,1 1 6

13,616

4,331

19,127

In the table which follows we sum up separately the
earnings for the fourth week of December. The table
covers 39 roads and shows 9 .14% increase in the aggregate
over the same week last year.
F o u rth w eek o f D ecem ber.

In crea se. D ecrea se.

B u ffa lo R o c h e s t e r & P itts b u r g h
C a n a d ia n N o rth e r n ______________
C a n a d ia n P a c ific ________________
C en tral o f G e o r g ia _______________
C h a tta n o o g a S o u th e r n _________
C h ic a g o G rea t W e s t e r n __________
C h ic a g o In d ia n a p & L o u is v i ll e ._
C h ic a g o T erm in a l T r a n sfe r ______
C o lo r a d o & S o u th e rn (In clu d in g
F t W o r t h & D e n v e r C it y ____
D e n v e r & R io G ra n d e ___________
D e tr o it & M a c k in a c _____________
D e tr o it T o le d o & I r o n t o n _______
D u lu th S o u th S h o re & A t l a n t i c .
G ra n d T r u n k o f C a n a d a _______
G ra n d T r u n k W e s t e r n _____
D e tr o it G r H a v e n & M il w ..
C a n a d a A t la n t ic ____________
G u lf & S h ip I s la n d _____________ _
In te r n a tio n a l & G t N o r t h e r n ___
I n te r o c e a n lc o f M e x ic o __________
I o w a C e n t r a l ____________________
L o u is v ille & N a s h v ille ________
M e x ica n I n te r n a tio n a l__________
M in era l R a n g e ___________________
M in n ea p olis & St L o u is _________
M in n ea p olis S t P a u l & S S M ___
M issouri K an sas & T e x a s _______
M issouri P a cific & Ir o n M tn ____
C en tral B r a n c h _______________
N a tio n a l R R o f M e x ic o _________
R io G ra n d e S o u t h e r n ___________
S t L ou is S o u th w e s te r n __________
S o u th e rn R a ilw a y _______________
T e x a s & P a c ific __________________
T o le d o P e o r ia & W e s t e r n _______
T o le d o S t L ou is & W e s t e r n ____
W a b a s h ___________________________
W e ste rn M a r y la n d ._____________
W h e e lin g & L a k e E r ie ___________

1 92,378
171,700
2 ,0 6 8 ,0 0 0
3 39 ,507
3,348
277 ,512
140,520
41,844

217 ,162
130,800
1,7 7 4 ,0 0 0
322 ,244
2,792
247 ,728
139,531
42,962

325,941
5 42 ,000
34,987
123,058
89,153

285 ,333
476 ,1 0 0
30,379
125,107
62,193

2 6,9 6 0

1 ,230.148

1,1 7 3 ,0 7 8

57,070

40,608
65,900
4 ,6 0 8

11,229

5 3 ,710
2 30 ,962
3 0 .000
14,000
37,239
348
8 2,0 9 2
27,243
133 ,968
3,898
5,468
2 7,4 1 0
4 ,3 9 7
9 ,6 3 3

1905.

154 ,110

In crea se.

$
$
$
G ross earnings (49 r o a d s ) ____________ 5 1 ,7 4 9 ,6 4 5 4 8 ,6 5 5 ,6 4 2 3 ,0 9 4 ,0 0 3

%
6.36

It will be seen that there is a gain on the roads reporting
in’ the amount of $3,094,003, or 6.36% .
Net Earnings Monthly to Latest Dates.— The table fol­
lowing shows the gross and net earnings of STEAM railroads
reported this week. A full detailed statement, including all
roads from which monthly returns can be obtained, is given
once a month in these columns, and the latest statement of
this kind will be found in the issue of Dec. 22 1906. The
next will appear in the issue of Jan. 26 1907.
......................

R oads.
A la b a m a T e n n & N o r ___ N o v
J u ly 1 t o N o v 30
A tla n & Chari A ir L i n e . a . O c t
M ch 1 t o O ct 3 1 . . ____
A tla n B irm & A t la n t ic a . N o v
J u ly 1 t o N o v 3 0 . . ____
B r id g e to n & S a e o R i v . b .N o v
J u ly 1 t o N o v 3 0 . . ____
C h esterfield & L a n c . b . . N o v
J u ly 1 t o N o v 3 0 . . ____
C h ic Incl & L o u is v ille .a . N o v
J u ly 1 t o N o v 3 0 . . ____
C h ic T e r m T r a n s f e r .b .. N o v
J u ly 1 t o N o v 30'
_____
C o r n w a ll.a . .
J u ly 1 t o N o v 3 0 . . ____
C orn w all & L e b a n o n . b_ N o v
l"1*'. J u ly 1 t o N o v 30 _ . ____
D e n v e r & R io G ra n d e , b N o v
J u ly 1 t o N o v 3 0 - . ____
D u l R L & W I n n .b
N ov
J u ly 1 t o N o v 30
L o n g Is la n d , b ___________ N o v
.
Jul y l t o N o v 3 0 - _ ____
N jY fO n t & W e ste rn . a . . N o v




— I n t., R en ta ls, & c .— — B a l. o f N et E ’n g s.—
C u rrent
C u rrent
P r e v io u s
P r e v io u s
Y ea r.
Y ea r.
Y ea r.
Y ea r.
$
R oads.
S
$
5
A t la n t ic B irm & A t la n t a .N o v
18,927
21,729
d e f.5 ,5 7 3
16,631
J u ly 1 t o N o v 3 0 . . ____
4 9 ,9 7 4
63.499
1 22 ,288
8 2 ,295
B rid g e to n & S a co R i v e r .N o v
543
681
d c f. 26
543
J u ly 1 t o N o v 30
2,715
6 ,5 4 5
6,2 3 3
2,715
C orn w all & L e b a n o n ____ N o v
3,527
1 5 ,5S8
13,823
4,169
J u ly 1 t o N o v 30
19,686
9
1 ,7 7 8
8 8 ,7 7 3
20,8 2 3
D e n v e r & R io G ra n d e ___ N o v
363 ,206
<*366,420
(*360,189
354 ,5 4 0
J u ly 1 t o N o v 3 0 . . ____ 1,7 7 7 .6 6 4
1 ,742,975 d l , 9 4 2 ,8 9 3 d l , 8 2 3 ,3 3 8
74,153
N Y O n t & W e s te rn ____ N o v
9 6 ,3 2 3
74,0 6 4
98,079
J u ly 1 t o N o v 3 0 - . ____
370 ,507
7 0 7 ,6 1 7
352 ,802
9 3 6 ,1 2 3
22,541
P o c a h o n ta s C ollieries C o .N o v
10,964
16,246
d e f.5 ,7 6 9
194,791
J a n 1 t o N o v 30
4 2 ,9 6 9
173,889
73,082
18,517
U n ite d S tates T e le p h ___ N o v
11,491
3,241
3,4 3 3
d T h e se figures are a fte r a llo w in g fo r o th e r in c o m e a n d fo r d is c o u n t a n d
ex c h a n g e . T h e sum o f $10 ,0 0 0 Is d e d u cte d e v e r y m o n t h fro m su rp lu s a n d
p la c e d t o th e cre d it o f th e R e n e w a l F u n d .
x A ft e r a llo w in g fo r o th e r in c o m e re c e iv e d .

1,118

6 5,1 2 8
9 ,0 6 2
2,202
14,306

-G ro ss E a r n ’g s C u rrent
P r e v io u s
Y ea r.
Y ea r.
5
$
3,934
4,069
1 8,024
16,892
373 ,8 4 4
378 ,469
2 ,7 4 7 ,0 8 3
2 ,6 1 1 ,6 8 6
130,121
81,391
636.205
450 ,460
3,947
3,512
22,833
23,922
4 ,3 2 0
3,404
19.144
15,333
4 8 7 ,8 7 7
494 ,2 4 0
2 ,6 5 6 ,8 1 7
2,6 4 1 .1 1 5
154,854
145 ,868
732 ,8 9 4
7 2 4 ,3 7 8
15,194
16,993
77,2 2 8
93,8 7 2
38,074
38,652
1 91,038
2 09 ,948
1 ,868,409
1 ,7 5 7 ,4 2 5
9,0 8 1 ,8 8 8
8 ,5 3 5 ,5 0 8
28,459
23,203
141 644
8 4 ,274
I n c . 7 9 ,0 6 4
I n c .5 31 ,785
639 ,174
6 20 ,628

Interest Charges and Surplus.

Latest G ross E a rn in g s.

8 ,8 1 5
9 1 .000
42,395

1906.

-------N et E a rn in g s ------C u rren t
P rev iou s
Y ea r.
Y ea r.
R oads.
$
$
P o c a h o n ta s C ollieries C o .N o v
16,772
27,2 1 0
_______
Jan 1 to N o v 3 0 . _
2 67 ,870
2 1 6 ,8 5 8
S o u th e rn In d ia n a , b ____ N o v
143,720
125,227
4 9 ,4 8 4
J u ly 1 t o N o v 30
606 ,516
694,431
296 ,027
248 ,761
30,592
U n ite d S tates T e l e p h .b . N o v
33,493
21,950
14 ,7 2 3
W abash , b
. ______
2 ,0 6 0 ,9 8 1
N o v 2,219,101
567 ,867
67 5 ,5 1 9
J u ly 1 t o N o v 30 _ . ____ 12,002,087 1 0 ,6 2 6 ,8 0 6
3 ,9 0 0 ,6 5 5
3 ,5 3 1 ,9 1 1
Sl 8,827
W r ig h ts v & T e n n ille . b _ N o v
s 2 1 ,154
4,962
5 ,6 3 8
J u ly 1 t o N o v 3 0 _ - ------S91,525
35.6S6
s 9 9 ,360
3 6 ,0 8 5
a N et earn in gs here g iv e n are a fte r d e d u ctin g ta x e s ,
b N et e arn in g s here g iv e n are b e fo re d e d u ctin g ta x e s ,
s In clu d e s $502 o th e r in c o m e fo r N o v . 190 6, a gain st $473 in 1 90 5, an d
$ 2,4 6 3 fro m J u ly 1 t o N o v . 30 190 6, a za in st 52.181 last y e a r.

N a m e of
R oad.

For the month of December the returns of 49 roads show
as follows:
M o n th o f D ecem ber.

.

STREET RAILW A YS AND TRACTION COMPANIES.

4 0 ,900
294 ,000
17,263
556
29,784
989

T o t a l (39 r o a d s )_______________ 1 4 ,3 6 5 ,8 0 3 1 3 ,1 6 2 ,8 2 9 1 ,357,084
N e t in crea se ( 9 . 1 4 % ) __________
1.202,974

l x x x iv

------ G ross E a rn 'g s------C u rrent
P rev io u s
Y ea r.
Y ea r.
$
$

T .l 'I O

3,7 5 8 ,5 3 8

[V o l .

-N c t E a rn in g sC u rrent
P r e v io u s
Y ea r.
Y ear.
S
$
2,281
2 ,4 7 0
10,300
9,4 0 8
134,079
138,033
7 72 ,1 7 2
6 65,567
4 0 ,6 5 6
11,058
185 ,787
132 ,269
1,224
517
8 ,9 4 8
9,260
3,015
1.492
9 ,0 8 8
6 ,367
148 ,145
169 ,473
9 3 4 ,9 0 0
1.021,781
61,558
52,749
2 9 1 ,7 4 6
2 75 ,108
8,254
8 ,1 7 6
42,2 2 4
3 8 ,438
19,757
17,350
112,601
1 08 ,459
721,841
7 2 0 ,9 6 0
3,4 6 8 ,1 0 2
3 ,6 3 2 ,9 1 4
9,902
10,637
50,039
41,669
I n c . 5 3 ,2 6 6
I n c .308 ,179
172 ,232
170,387

A lb a n y & H u d s o n ___
a A m e r ic a n R y s C o —
c A u r E lg in & C h ic R y
B in g h a m t o n R y ______
Birm R y L t & P o w e r
B o s to n & W o r c e s t e r .
B r o c k to n & P ly S t R y
B u rlin g to n (V t) T r a c
C a m d e n & T r e n to n R y
C a pe B reton E le c C o .
C en t P e n n T r a c t i o n . .
Chari C on R y G as& E l
C h a tta n o o g a R y s C o .
C h ica g o & M ilw E le c .
dC fiica go & O ak P a rk
C le v e P a ln e svllle & E
C levela n d & S o u t h w .
C o lu m b u s R R C o ------D allas E le c tr ic C o r p .
D e tr o lt M on & T o le d o
D e tr o it U n ite d R y ___
D u lu th S tre e tJ R y —
E L iv e r p o o l T r & L tC o
E ast St L o u is & S u b .
E1 P a so E le c t r ic _____
F t W a y n e & W a b a sh
V a lle y T r a c t io n ___
G a lv e s to n E le c tr ic Co
G e o rg ia R y & E l e c . .
H a r tf & S prin g St R y
H a v a n a E le c tr ic R y .
H o n o lu lu R a p id T r &
L a n d C o ----------------H o u g h to n C o St R y . .
H o u s to n E le c tr ic C o Illln ols T r a c t io n C o . .
In d ia n a p C ol & S ou th
J a c k s o n C on sol T r a c .
J a c k s o n v llle E le c C o .
K a n C ity R y & L ight
L a k e S h ore E le c R y .
L e x & In te ru r R y s C o
L orain S tre e t R y ____
M adison & In t T r a c . .
M anila E le c R y & L tg
C o r p o r a t i o n _______
M e t W e s t S id e E l e v . .
M ilw E le c R y & L t C o
M ilw L t H t & T r C o . .
M on trea l S treet R y . .
N a sh ville R y & L t ___
N J & H R f t y & F y Co
N O R y <Sc L ig h t C o .
N iag ara S t C & T o r . .
N o r O h io T r a c & L t . .
N o rf & P o r ts m T r Co
N o rth e rn T e x a s T r C o
N o rth w e ste rn E l e v . .
O k la h o m a C ity R y . .
Peek s kill L ig h t & R R
P itts M ’ K & G r e e n ..
P o r tla n d R y s C o ____
P u g e t S o u n d E le c R y
St J o s e p h (M o) R y Lt
H eat & Pow er C o . .
Sa v a n n a h E le c tr ic C o
S c h u y lk ill R y C o ------S e a ttle E le c tr ic C o —
S o u th Side E le v a te d .
S y ra cu se R a p T r R y .
T a com a R y & P C o . .
T a m p a E le c tr ic O o _ .
T e rre H a u te T & L C o
T o le d o R y s & L ig h t .
T o l U rb & In te r R y _ .
T o le d o & W e s te rn —
T o r o n t o R a ilw a y -----T r i-C ity R y & L t C o .
T w in C ity R a p id T ra n
U n ited R R o f S F —
U n ited R y s o f B a l t . .
U n ite d R y s o f St L _ .
W ash A le x & M t V e r .
W e ste rn O h io R y C o .
W h a tc o m C o R y & Lt

W eek or
M o n th .

C u rrent
Y ea r.

P revio u s
Y ea r.

J a n . 1 to latest date.
C u rrent
Y ea r.

P reviou s
Y ea r.

2,7 3 9 ,7 8 7

2 ,4 7 9 ,5 5 3

276', 883
1 ,5 7 3 ,2 4 2
348 ,2 9 9

254 ,5 7 3
1 ,3 0 2 ,4 1 4
3 13 ,983

6 21 ,830
5 93 ,240
410 ,0 2 3
803 ,591
844 ,222
250 ,9 4 5
593 ,419

537 ,140
5 47 ,232
528",290
8 24 ,664
225 ,247
4 9 5 ,6 8 6

138",088
12,223

629 1,79 5
5,7 4 4 ,7 8 0
13,554

5 ,1 0 0 ,6 1 9
12,223

O c to b e r __
D e ce m b e r .
N ovem ber.
N ovem ber.
O c t o b e r ___
A u g u s t ___
O cto b e r . .
N ovem ber.
S e p te m b e r
O cto b e r
N ovem ber.
N ovem ber.
O c t o b e r ___
N ovem ber.
D e ce m b e r .
N ovem ber.
N ovem ber.
S e p te m b e r
O cto b e r _ .
4th w k D ec
4th w k D ec
1st w k Jan
S e p te m b e r
N ovem ber.
O c t o b e r __

$
27,763
234 ,983
96,721
21,634
181,241
67,136
8,708
6,390
21,564
24,753
53,913
56,774
39,663
81,143
78,439
20,392
54 ,286
17,792
118,324
9,323
154,855
13,554
31,220
180,163
34,630

$
24,830
2 1 5 ,3 0 8
89,415
2 0 ,488
158,345
63,324
7,995
6 ,390
14,128
21,555
4 6 ,5 5 6
53,549

152,668
29,765

1 ,7 0 4 ,5 0 5
314 ,4 0 7

1.457,881
238 .357

N ovem ber.
O ctob er . .
J u ly ...........
D e ce m b e r .
W k Jan 6

93,142
24,761
237 ,100
11,637
34,211

80,474
23,927
202 ,994
1 0,806
29,982

1 ,0 0 7 ,8 1 3
2 6 2 ,0 7 5

862,171
2 23 .194

173*896

1 39 ,582

N ovem ber.
O c to b e r . .
O c to b e r . .
N ovem ber.
N ovem ber.
N ovem ber.
O c to b e r . _
N ovem ber.
N ovem ber .
N ovem ber.
S e p te m b e r
N ovem ber.

29,2 0 6
19.352
51,251
267 ,296
20,215
10,409
26,844
466 ,2 2 0
61,591
40,1 4 8
13,191
11,021

26,588
16,539
46,3 2 4
218 ,2 5 8
17,776
9,231
25,797
431 ,485
6 1,500

318 ,322
1 90 ,724
480 .1 2 5
2 ,7 1 0 ,9 4 3
218 ,947
134,434
261,116
4 ,9 8 5 ,3 6 4
796 .1 2 5
483 ,6 9 9
108,209
117,995

2 9 3 ,7 0 6
1 34 ,997
418 ,6 6 4
2 ,1 9 4 ,9 4 0
191,124
1 14 ,080
259 ,5 9 5
4.4 3 2 ,5 3 1
721 ,708

D ecem ber.
D e ce m b e r .
N ovem ber.
N ovem ber.
W k D e c 22
O c to b e r . .
N ovem ber.
N ovem ber.
O ctob er . .
N ovem ber .
N ovem ber
O ctob er . .
D e ce m b e r .
N ovem ber.
N ovem ber .
N ovem ber.
N ovem ber.
S e p te m b e r

n 85 ,300
241,474
302 ,895
54,262
60,903
132,611
33,501
506 ,534
22,058
133,388
127,256
93,458
147,101
14,507
12,236
12,564
144,322
78,240

n 9 0 9,08 0
210 ,4 8 8 2,4 9 3 .0 8 9
275,409 3,1 9 7 ,3 7 4
45,962
645 ,843
53,936 3 ,1 0 1 .2 1 6
102,556 1 ,138,073
30,689
'4 0 0 ,3 9 3
444,271 5 ,2 2 0 ,6 8 5
21,571
225 ,447
118,619 1,038,673
115,493 1 ,356,348
57,797
135,158 1,515,361
10,110
161,080
10,125
133,199
13,440
198,131
123,472 fcl ,538,828
55,143

54,466
77,7 0 4
18,057
46,2 5 4
15.321
88,601

11,512
7,5 6 3

" 93’ 381
101,422
2 ,2 6 7 ,9 3 8
2 ,9 2 9 ,0 7 0
560 ,664
2 ,7 1 0 ,3 9 3
9 4 7 ,8 5 8
332 ,6 0 0
210,484
965 ,2 1 2
1 ,2 3 6 ,6 4 4
1 ,4 1 1 ,9 2 7
113", 133
168,751
1 ,692,764

D e ce m b e r
7 5 4 ,9 5 4
75,147
8 3 4 ,4 3 8
73,025
O c to b e r . .
481 .6 6 6
43,835
517 ,509
49,907
N ovem ber.
14,976
A u g u s t ___ 209 ,853 224 ,936
D e ce m b e r _ 147,578 151,117 1,721.207' 1 ,6 4 5 ,6 5 3
N ovem ber.
873 ,280
9 9 4 ,9 4 6
93,247
82,895
S e p te m b e r
72,727
60,555
O ctob er _ .
379 ,267
329 ,3 6 6
39,385
34,5 8 6
O cto b e r . .
513 .2 3 5
664.452;
57,336
7 5.967
N o v e m b e r . 172,728 164,418 1 ,8 6 0 ,7 6 2 1 ,737,711
252 ,004
289 232
O c to b e r . .
26,7 6 6
28.792
177,648
180 .236
S e p te m b e r
2 5 ,108
21.654
W k D e c 22
60,709
64,180
O cto b e r . .
143,434 120,179
4th w k D e c 159,371 143,762 5 ,6 3 4 .1 8 5 4 ,7 5 6 ,3 0 1
O cto b e r
ft541,008 638 ,319
___ 4 .8 9 8 ,6 9 9
S e p te m b e r
622.841
N o v e m b e r . 755 ,5 4 9 714,771 8 ,3 6 3 ,8 3 4 7 ,7 2 9 ,5 5 4
20,275
254 ,8 0 7
N ovem ber.
231 ,113
19,523
O c to b e r . .
35,0 4 0
15,024
26,465
O c to b e r . .
a F ig u re s fo r tn e m o n th in b o t h vea rs in c lu d e o p e r a tio n s o f th e S cra n to n
R y .. a c q u ir e d Jan . 1 1906. b T o t a l Is fro m M arch 1. c T h e se figures are
fo r c o n s o lid a te d c o m p a n y ,
d T h e se are resu lts fo r m a in lin e , h T h e se are
e a rlv p r e lim in a ry retu rn s: de cre a se d u e t o e a r th q u a k e , fire an d strike
a m o n c e m p lo y e e s . A u g . 26 t o S e p t. 5 1906.
k D ecrease d u e t o L ew is &
C lark E x o o s lt io n last v e a r. I B e g in n in g O c t . 1 1906, in clu d e s earn in gs o f
C a n to n -A k r o n R y . In b o th vears.
n Figures are fo r all d e p a rtm e n ts

Street Railway Net Earnings.— The following table gives
the returns of STREET railway gross and net earnings
reported this week. A full detailed statement, including all
roads from which monthly returns can be obtained, is given
once a month in these columns, and the latest statement of
this kind will be found in the issue of Dec. 29 1906. The
next will appear in the issue of Feb. 2 1907.

R oads.
D allas E le c t C o r p . a _____ O ct
L a k e S liore E l e c t .a _____ N o v
Jan 1 t o N o v 3 0 -------------L e x in g to n & I n te r u r R y s -N o v
Jan 1 t o N o v 3 0 ------------M anila E le c R R & L t — D e c
Jan 1 t o D e c 3 1 -------------S t J osep h R y L t H t & P . D e c
J a n 1 t o D e c 3 1 --------------

- G ross E a rn 'g sC u rren t
P rev io u s
Y ea r.
Y ea r.
$
$
118 ,324
88,601
61,591
61,500
7 90 ,125
721 ,708
40,1 4 8
483 ,699
85,300
909 ,0 8 0
73,0 2 5
7 5 ,1 4 7
834 ,4 3 8
7 5 4 ,9 5 4

-------N et E a rn in g s-------C u rren t
P rev io u s
Y ea r.
Y ea r.
$
3 7 ,1 3 8
4 3 ,2 5 4
27,508
2 5,689
359 ,322
3 27 ,880
14,977
1 74.598
4 3 ,067
4 44 ,457
41,250
3 9 ,759
369 ,619
4 07 ,6 3 5

$

a N et earnings here g iv e n are a fte r d e d u ctin g ta x e s ,
b N et earnings here g iv e n are b e fo r e d e d u ctin g ta x e s .

Interest Charges and Surplus.
— I n t ., R en ta ls, & c .—
C u rren t
P rev io u s
Y ea r.
Y ea r.
R oads.
$
$
15,378
D allas E le c t C o r p ------------ O ct
15,858
20,404
20,4 5 0
L a k e S l'o r e E le c t ________ N o v
224 ,4 4 4
Jan 1 t o N o v 3 0 _______
2 24 ,652

- B a l . o f N et E ’ n gs .—
C u rren t
P rev io u s
Y ea r.
Y ea r.
$
$
2 1 ,7 6 0
2 7 ,3 9 6
7,104
5,239
1 0 3 ,4 3 6
1 34 ,670

x A ft e r a llo w in g fo r o th e r in co m e .

190 4-0 5.
$ 11 ,130
4 0,0 0 0
4 ,0 3 8
1 ,8 0 0
1 97 ,683

19 0 3 -0 4 .
$ 10 ,103
3 1 ,0 0 0
3 ,7 7 6
2,5 7 5
138 ,775

T o t a l ____________________________ $281,018 $254,051
$ 18 ,837
B a la n ce , su rp lu s___________________
$29 ,027

$ 1 8 6,22 9
$46 ,779

C h arges—
T a x e s _____________________________
R e n t G u lf & C h ica g o R y __________
In te re st o n cu rre n t lia b ilitie s ___
In te re st o n first m o r tg a g e b o n d s .
I n t . o n first c o n s o l, m o r t. b o n d s .
In t. o n e q u ip m e n t o b lig a t io n s ___

$ 9 3 ,2 5 7
$10,261

__

1905.
$
4,000,000
4,000,000
36,000

2,740,000
’ 23,485
92,908
44,916
1,985
25,000
110,342

71,000
6,551
91,466

T o t a l __________ 13,428,239 11,243,653

Tonopah & Goldfield Railroad.

Mobile Jackson & Kansas City RR.
(Report jor Fiscal Year ending June 30 1906.)
Vice-President and General Manager T. F. Whittelsey,
Mobile, Sept. 15 1906, says in substance:
R oad and E q u ip m e n t.— O n Ju n e 30 1906 w e w ere o p e r a tin g 4 0 1 .6 9 m iles
o f m ain line an d b ra n ch e s , an in crea se d u rin g th e y e a r o f 136 .48 m iles,
w lilcn w ere op e n e d for s erv ice as fo llo w s : A u g . 9 , D e ca tu r J e t. t o U n io n ,
10.75 m iles: S e p t. 17, U n ion t o A c k e r m a n , 57.99 m iles; O c t . 10, H o u s to n to
A lg o m a , 19.35 m iles; N o v . 12, A c k e r m a n t o M a b e n , 18.80 m iles; D e c . 11,
A lg o m a t o P o n t o t o c , 5 .3 0 m iles; Ja n . 1, M aben t o H o u s to n , 24.29 m iles.
N ew e q u ip m e n t re c e iv e d , 500 b o x cars 30 to n s c a p a c it y .
T ie ren ew als,
2 3 ,6 1 9 , con tr a s tin g w ith 17,317 fo r th e y e a r 190 4-0 5.
In c lu d e d In o p e r a ­
tin g exp en ses for th e y e a r e n d e d Ju n e 30 1906 w ere item s a g g re g a tin g $ 28,271
fo r new in d u stry tra ck s ($14,709) an d o th e r Im p ro v e m e n ts an d a d d itio n s .
D u rin g th e y ear w e r e b u ilt 31 trestles b e tw e e n M o b ile & M errill c o s tin g
$ 1 6 ,1 2 8 . cn argin g th e en tire a m o u n t to a p p ro p r ia tio n m a d e .Sept. 1 1904
fo r p erm a n en t Im p rov em en ts.
N o e xp en ses w ere ch a rg e d t o c o s t o f r o a d .
R a il in m ain line Ju n e 30 190 6, 50 lb s ., 3 2 .9 m iles; 60 lb s ., 5 4 .5 m iles;
70 lb s ., 279 .59 m iles; b ra n ch e s, 60-70 lb s .. 34.7 m iles.
D u rin g th e ye a r
5.67 m iles o f a d d ition a l sidin gs w ere c o n s t r u c te d , as c o m p a r e d w ith 14.11
m iles d u rin g th e p reced in g y ear.
A v e ra g e a m ou n ts ch a rg ed to m a in te n a n c e o f e q u ip m e n t fo r repairs and
r e p la ce m e n t o f rollin g s t o c k d u rin g th e y e a r :
P er lo c o m o t iv e , $ 1 ,4 0 9 ,
a ga in st $811 in 1904-05: p er passen ger ca r , $76 4, again st $478; p e r fre ig h t
c a r , $30 , a ga in st $26.
E q u ip m e n t Ju n e 30 1906:
L o c o m o tiv e s 3 4 , Increase
1 (lea se d ): a v era g e t r a c tiv e p o w e r (p o u n d s ), 1 9 ,3 8 2 , in crea se 9 % .
F re igh t
cars 1 ,0 0 2 , Increase 45 5 , o r 8 3 % ; to ta l c a p a c it y (In to n s o f 2 ,0 0 0 p o u n d s ),
3 2 ,6 4 0 : in crea se 1 4 ,2 6 5 , o r 7 8 % .
G eneral R esu lts.— G ross earnings Increased $ 4 0 6 ,1 6 4 , o r 5 9 .9 % ; net ea rn ­
ings increased $ 3 6 ,5 4 0 , o r 1 3 .4 % ; su rplu s o v e r in terest and ta x e s , $29 ,027 ;
increase $ 10 ,189 : a v era g e m iles o p e r a te d , 3 6 1 .5 8 , increase 3 9 .6 % .
O n J u ly 23 1905 y e llo w fe v e r w as d is c o v e re d in N ew O rle a n s ,a n d resu ltin g
qu a ra n tin es in M ississippi an d A la b a m a fro m J u ly 29 t o O ct. 23 s eriou sly
in terfered w ith p assen ger a n d fre ig h t tra in o p e r a tio n .
A v e ra g in g the
m o n th ly earnings fo r J u ly an d N o v e m b e r , and using ttiat a v e ra g e fo r
A u g u s t, S e p te m b e r and O c t o b e r , I e stim a te th a t w e lost $ 30 ,862 passen ger
an d $10 ,138 freigh t reven u e ; to ta l $ 5 0 ,0 0 1 .
F rom M arch 11 to A p ril 13
1906 th e line w as c lo -e d at P o n t o t o c b y c o u r t I n ju n c tio n , wThich c o s t an
a m o u n t estim a ted at $ 1 0 ,0 0 0 .
U n p r e c e d e n te d rain fa ll in N o rth M ississippi
e a rly in th e y ea r o f 1905 g r e a tly r e d u ce d th e p r o d u c t io n o f c o t t o n , th e r e b y
a ffe c tin g ou r reven u es a d v e rs e ly .
E ffo r t has been m a d e t o d e v e lo p o u r n ew t e r rito r y In M ississippi b y the
liberal e x te n s io n o f p assen ger and fre ig h t train s e r v ic e , also s ta tio n s e rv ice ,
th e c o s t o f w h ich Is reflected In th e o p e r a tin g e x p e n se s.
W ith e q u ip m e n t
a n d facilities co m m e n su ra te w ith th e needs o f th e p r o p e r t y an d th e g ro w in g
co m m u n itie s th rou g h w h ich th e ro a d e x te n d s , th e earnings can b e v e r y largely
Increased an d th e p e r c e n ta g e o f e xp en ses t o earnings m a te ria lly de crea se d .
G R O W T H O F T R A F F I C A N D R E V E N U E S S I N C E 1900.
N um ber
G ross
— R ate p er M i l e .—
P a ssen ger
F is c a l
Tons
E a rn in g s.
P a ss .
Y ea r.
C arried. T on M ile s .
T o n s.
M ile s .
$11 4,36 4
3 ,220,001
7 74 ,9 4 6
190 0
99,218
3 ,5 2 8 ,2 6 0
140,730
954 ,0 7 6
190 1
101 ,844
4 ,3 0 9 ,0 7 7
167,229
1 ,2 2 1 ,8 1 8
190 2
125,000
7 ,0 0 0 ,0 2 4
3 .5 9 c ts .
273 ,9 8 0
2 .5 0 c ts .
190 3
134,702
2 ,3 9 7 ,0 2 0
12,0 0 4 ,7 9 4
528,017
3.01 cts.
2.77 cts.
1 90 4
267,494
4 ,5 8 1 ,7 9 6
1 5 ,900,792
3 .1 6 cts.
5.131 ,334
6 77 ,528
3 .0 0 cts.
190 5
306 ,5 6 0
3 6 ,1 5 6 ,4 2 6
2.74 cts.
7 ,5 2 5 ,1 0 3 1,083,692
2 .2 0 cts.
1 90 6
546,208
r fo t e .— O f th e 546,208 to n s ca rried in 19 0 5 -0 6 . p r o d u c ts o f fo re sts rep
resen ted 309 ,8 4 5 ton s (In crease 117 ,094 o v e r 19 0 4 -0 5 ): m e rch a n d is e , 62,230
ton s (Increase 3 1 ,377 t o n s ): p r o d u c ts o f a g ricu ltu re . 29.8 5 2 to n s (in crease
6 ,9 4 1 ); p r o d u c ts o f an im a ls, 19,949 to n s (Increase 9 ,9 9 8 ); p r o d u c ts o f m ines
3 6 ,4 8 0 ton s (in crease 1 9 ,2 8 8 ); m a n u fa c tu r e s , 27,8 5 2 to n s (d ecrea se 5,050)
IN C O M E A C C O U N T

Y E A R S E N D I N G J U N E 30.
190 5-0 6.
1903-04.
1 90 4-0 5.
180.42
2 58 .99
A v e ra g e m iles o p e r a t e d -----------•—
361 .58
E a rn in g s—
___
$482..099 $ 3 7 6,81 6
F r e i g h t ____________________________ $81 8,07 9
128 ,668
162,009
P a s s e n g e r _________________________
2
7,5 3 6
M a l l . . . ....................................................
11,713
10,286
7 .4 7 0
8.799
E x p r e s s ____________________________
14,382
14,335
7,527
M is c e lla n e o u s _____________________
2 3 ,185

T o ta l ................................................... $773,761
N e t ea rn in g s_______________________ $309,931
O ther In co m e—
M iscella n eou s In terest____________
114

19 0 2 -0 3 .
$4,060
_______
_______
_______
8 9 ,1 9 6

1905.
1906.
Liabilities—
S
S
8,080,253 Capital stock_____ 4,000,000
1st consol. M. 5 % . 4,000,000
36,000 1st M. bonds unex­
changed _______
36,000
Endorsem ’ t on bds.
Gulf & Chic. R y .
1st consol. M.
2,740,000
b o n d s _______ 3,724,000
Trust equipment
70
obligations_____
239,000
47,873 Reserve accounts.
12,683
Audited vouchers.
96,877
69,475 Audited pay-rolls.
65,038
16,645 Drafts b y a g en ts..
4,506
Bills payable_____
495,362
226,920 Int. on bonds____
4,675
216 Due connect’g lines
2,598
1,238 Due individuals &
23,836
com panies_____
486,276
Due Gulf & Chic.
R y . C o________
25,510
Int. and taxes ac­
crued not d u e ..
1,127
114,002
Profit and loss____
121,712

T o t a l __________ 13,428,239 11,243,653
— V . 84, p. 51.

Annual Reports.— All annual reports of steam railroads,
street railways and miscellaneous companies which have been
published during the last half of 190G may be found by refer­
ence to the general index of the “ Chronicle,” the annual re­
ports being indicated in this index by heavy-faced type.

T o t a l .......................................... . . . $ 1 , 0 8 3 , 6 9 2
E x p en ses—
M a ln t. o f w a y and s tr u c tu re s ____ $254,553
M a in ten a n ce o f e q u ip m e n t _______ 114.754
C o n d u c tin g t r a n s p o r t a t io n _______ 340 ,098
G eneral e x p e n s e s _________________
64,356

1905-06.
$ 14 ,596
3 4 ,290
21,429
1,800
198 ,200
10,703

B A L A N C E S H E E T J U N E 30.
1906.
Assets—
S
Road and equipm’ t 9,077,575
Consols to exch.
1st M. bonds___
36.000
Guar, of bonds—
Gulf & C hic. R y .
Co. 1st consol.
M. bonds____ 3,724,000
Trust equipm ent-.
337.292
M obile Cotton Ex.
s t o c k __________
70
C a sh _____________
100,042
Cash for matured
21,564
c o u p o n s _______
Due b y sta. agents
33,260
Due b y individuals
and com panies.
Traffic balances..
Insur. in advance.
1,067
Material and supp.
67,443
Rail leased to out­
side p a rtie s____
16,705
Paid claims unad­
justed__________
7.116
Unadjusted accts.
6,105

A N N U A L REPORTS.




99

THE CHRONICLE.

J a n . 12 1907.]

190 2-0 3.
85.06
$189,073
74,5 7 0
3,091
2,962
4,284

$67 7,52 8

$52 8,01 7

$27 3,98 0

$11 2,25 9
07,5 5 3
1 82 ,7 8 0
41,551

$ 88 ,602
4 5 ,635
134 .187
20,594

$51,001
2 3,8 7 0
70,071
19,460

$40 4,14 3
$27 3,38 5

$29 5,01 8
$23 2,99 9

$17 0,46 3
$10 3,51 8

104

10

$ 27 3,48 9

$23 3,00 9

$10 3,51 8

(Report for Fiscal Year ending June 30 1906.)
President John W . Brock, Philadelphia, Dec. 17 1906,
says in substance:
T h e b o a r d o f d ire cto rs su b m its th e r e p o rt o f th e o p e ra tio n s o f th is c o m ­
p a n y sin ce Its c r e a tio n , N o v . 1 190 5, b y th e co n s o lid a tio n o f th e T o n o p a h
R R . C o. a n d th e G old field R R . C o. T h e b o n d e d d eb t o f th e c o n stitu e n t
c o m p a n ie s has been ca lle d In an d ca n ce le d an d th e first m o rtg a g e b o n d s
o f y o u r c o m p a n y Issued t o th e a m o u n t o f $ 1 ,1 5 0 ,0 0 0 , secu red u p o n a to ta l
o w n e d m ilea g e o f 104.23 m iles. T h ere are a v a ila b le fo r th e a cq u isitio n o f
a d d itio n a l p ro p e rty $ 3 5 0,00 0 o f th e to ta l a u th orized m o rtg a g e o f $ 1 ,5 0 0 ,0 0 0 .
A t th e tim e o f th e co n s o lid a tio n th e G old field R R . w as In o p e ra tio n ,
sh ow in g e x ce lle n t earn in gs, bein g n e w ly co n s tru cte d as a b ro a d -g a u g e
r a ilroa d , la id w ith 6 5 -lb . rails, its m o tiv e p o w e r b ein g id en tica l w ith th a t
pu rch ased b y th e T o n o p a h R R . fo r use w h en th e b ro a d -g a u g in g sh ou ld be
c o m p le te d .
On A u g . 13 1905 th e first b ro a d -g a u g e tra in rea ch ed T o n o p a h ,
th e ch a n g e o f ga u g e h a v in g been m a d e d u rin g th e d a y . T h e w eigh t o f rail
u p o n th e T o n o p a h R R . w as 50 lb s. to th e y a rd ; b u t y o u r b o a rd con sid ered
it a d v isa b le t o re -la y th e ro a d w ith 6 5 -lb ., an d th e n ecessa ry a m o u n t w as
o r d e r e d , b u t u n fo rtu n a te ly th e w h o le a m o u n t has n o t b e e n re ce iv e d d u rin g
th e fiscal y e a r.
• •
O w in g t o th e g ro w th o f bu sin ess, y o u r b o a r d fo u n d it n ecessa ry t o ord er
fo u r n ew passenger cars, w h ich are u n d er co n s tr u c tio n b y th e P u llm a n C o m ­
p a n y , an d 50 iro n -h o p p e r cars, w h ich sh ou ld b e d e liv ered th is a u tu m n , fo r
he m o v e m e n t o f ore.
It has also a u th o rize d th e en la rg em en t o f th e sta ­
tio n b u ild in g at T o n o p a h . a n d , b eca u se o f th e c o n s tr u c tio n o f th e B u llfrog
G old field R R ., has d ire cte d a n u m b er o f im p ro v e m e n ts a t G o ld fie ld , In­
clu d in g th e m o v in g o f th e sta tio n b u ild in g t o a p o in t a v a ila b le fo r use u p o n
th e th ro u g h line.
T h e a d d itio n a l tra ck s a n d sidin gs w ill con su m e som e p o r tio n o f th e 5 0 -lb .
rail re p la ce d , b u t a co n sid e ra b le q u a n tity has been s o ld — som e 18 m iles
bein g sold fo r th e c o n s tru ctio n o f th e Silver P ea k R R . , w h ich sh ou ld so o n
b e c o m p le te d .
M u ch o f th e n a rrow -g a u g e e q u ip m e n t has been s o ld , in­
clu d in g th e lo co m o tiv e s .
S om e fe w ca rs— fre ig h t a n d p assen ger— are
still o n h a n d .
T h e te rrito ry served b y y o u r c o m p a n y ’s lines is g ro w in g In Im p orta n ce
an d its p o p u la tio n Is in crea sin g.
A d a lly th ro u g h train w ith P u llm a n car
serv ice has been establish ed in c o n ju n c tio n w ith th e S ou th ern P a cific C o.
b etw een San F ra n cisco an d T o n o p a h an d G old field . T h e passen ger rates
w ere red u ced 2 0 % at th e clo se o f th e fiscal y e a r. T h e freigh t tra ffic has
gain ed ste a d ily b o th in gen eral m erch a n d ise a n d ores. T h e earnings o f th e
co n s o lid a te d railroad fo r th e eigh t m o n th s o f its o p e ra tio n e x c e e d e d th e
earnings o f th e T o n o p a h R R . fo r th e full y ea r en d in g Ju n e 30 1905.
T h e B u llfrog G old field R R . is n ow u n d er co n s tr u c tio n fro m G old field
s o u th w a rd to th e B u llfrog m in in g d istrict u p o n th e sa m e sta n d a rd as t o
m o tiv e p o w e r, e q u ip m e n t an d w eig h t o f rails as y o u r c o m p a n y ’s ra ilroa d ,
an d sh ou ld b e co m p le te d w ith in a fe w w eek s.
IN C O M E A C C O U N T F O R E I G H T M O N T H S E N D E D J U N E 30 1906.
F reig h t t r a f f i c . . .................... .$ 0 6 6 ,1 5 3 N et earnings (as b e l o w ) ____ $43 2,72 6
P assen ger t r a ff ic ____________ 260 ,260
O th er in c o m e —
E x p ress t r a ff i c _____________
16,895 In t. o n d e p o sits ($1,663) ,& c .
2,555
T r a n sp o rta tio n o f m a ils ____
2,539
M iscella n eou s s o u r c e s _______
3,030
T o ta l net in c o m e __________$435,281
D ed u ction s—
T o ta l g ross e a rn in g s ______$94 8,87 6 In terest o n b o n d s ___________ $54 ,432
M alnt. o f w a y & s t r u c tu r e s .$22 1,18 2 T a x e s p a id an d a c c r u e d ____
4,2 5 5
M a in te n a n ce o f e q u ip m e n t .
23,215 S inking fu n d (6 m o n t h s ) ___
39,462
C o n d u c tin g t r a n s p o r t a t io n . 233 ,936 D iv id e n d s —
On p re f. s to c k ( 7 % ) ______ 35,000
G eneral e x p e n s e s ____________
37.817
•On co m m o n s t o c k ( 7 % ) . 115,500
T o t a l o p e r a tin g e x p e n s e s .$ 5 1 6 ,1 5 0
N e t e a rn in g s ________________ $43 2,72 6
T o t a l d e d u c t lo n s .
..$ 2 4 8 ,6 4 9
B a la n ce , surplus fo r 8 m o n t h s ---------..$ 1 8 6 ,6 3 2
•The c o m p a n y fo r th e first y ea r o f o p e r a tio n e n d in g N o v . 30 1906 p a id
d iv id e n d s a m o u n tin g t o 1 7 % u p o n th e c o m m o n a n d p referred s t o c k .
A
d iv id e n d w as also paid o n D e c. 20 1 9 0 6 ,a m o u n tin g t o 1 0 % o n th e p re ferred
a n d c o m m o n s t o c k , as th e first d iv id e n d In th e se c o n d y e a r o f o p e r a tio n .
D ividends.
M a y 1 ’06.
C o m m o n ____
3 y2 %
P r e f e r r e d ___
3M %

A u g . 1 ’0 6 .
3>£%
______

N o v . 1 ’ 06.
______
3>£%

N ov. 1 ’06.
1 0 % e x tr a
1 0 % ex tra

D e c . 1 ’06
10%
10%

B A L A N C E SH EE T J U N E 30 1906.
Assets—
Road and "equipment—
Cost of equipm ent-------Co. (cost).
C a s h _______
Due from foreign roads.
Due from agents______
Materials and supplies.
U nexpircd Insurance___

— V . 8 3 , p . 1591.11472.

2,953,291
240,934
;
9,000
394,995
64,355
72.028
16,769
73,454
1.872

Liabilities—
$
Preferred stock ........................... . 500.000
Common stock ______ _________ .1,650,000
First mtge. 6 % bonds________ -1,150.000
28,383
A ccount payable_____________ 49,237
Due to foreign roads__________ - 143.535
Due to individ . & companies175
Dlvidends uncollected_______
140
Dividends p a y a b le --------------- .
75,250
3,191
693
39,463
Sinking fund (6 m onths)_____ .
Profit and lo s s........................... . 186.632

3,826,698

T o t a l ........................................ .3,826,698

-

S

100
W h ite

THE CHRONICLE.
P a ss

&

Y ukon

(R ep o rt fo r F is c a l

R a ilw a y

C o ., L im it e d .

Y e a r e n d in g J u n e 3 0

1 . 9 0 6 .)

S ecre ta ry W . H . P . S tev en s sa y s:
D u rin g th e y e a r c o v e r e d b y th e a c c o u n ts a sp e cia l r e s o lu tio n w as p a s s e d
b y th e h olders o f th e 6 % m o r tg a g e d e b e n tu re s (n a v ig a tio n b o n d s — £ 2 5 5 ,5 5 5 ), u nd er w h ich t h e te rm o f su ch d e b e n tu re s has b e e n e x t e n d e d fr o m
D e c . 31 1011 t o Jan . 1 193 0, it b e in g p r o v id e d at t h e s a m e tim e t h a t th e
c o m p a n y sh all n ot re d e e m su ch d e b e n tu re s b e fo r e t h e n e w d u e d a te , e x c e p t
a t a p rem iu m o f 5 % .
T h e o n ly c o s t t o th e c o m p a n y o f e ffe ctin g this a d ­
v a n ta g e o u s e x te n s io n w as th e p a y m e n t o f a c o m m is s io n o f 5 % t o th e c o m ­
m e rcia l m a n a g ers fo r u n d e rw ritin g a n d fo r c a r r y in g th e business th r o u g h ,
in c lu d in g all exp en ses a n d legal ch arges c o n n e c t e d th e re w ith .
O f this
c o m m is sio n o n e -fo u r th hag b e e n c h a r g e d a g a in st t h e p resen t y e a r ’s p r o fits ,
t h e b a la n c e b e in g ch a rg e a b le b y e q u a l In sta llm en ts o v e r th e n e x t th re e
y ears.
T h e s t a t e m e n t o f e a r n in g s o f t h e o p e r a t in g c o m p a n ie s
p u b li s h e d in f o r m e r r e p o r t s is o m i t t e d t h i s y e a r .
R even u e T r a ffic fo r C alendar Y ea rs
1905.
R a il L in es— P assen gers ca r r ie d , n u m b e r . . l 4 , 157
T o n s c a rrie d , n u m b e r ________ 34,1 1 9
R iv e r D iv .— P a ssen gers ca r r ie d , n u m b e r .. 7,671
T o n s ca r r ie d , n u m b e r ________ 2 9 ,309

190 2-1 905.
1904.
1903.
11,773
12,6 8 3
33,2 2 5
3 3 ,704
6,849
8 ,7 8 7
2 6 ,0 6 6
2 3 ,559

1902.
16,059
28,095
7 ,0 0 6
2 1 ,847

S. H
G r a v e s , P r e s id e n t o f th e lo c a l c o m p a n ie s , r e p o r t in g
fo r th e c a le n d a r y e a r 1 9 0 5 , s a y s :
T h e y e a r 1905 w as m a rk e d b y g re a te r p rogress in th e d e v e lo p m e n t o f th e
m in era l resou rces o f th e Y u k o n t e r rito r y andJAlaslca th a n a n y p re v io u s y ear
sin ce th e d is c o v e ry o f t h e K lo n d ik e g o ld fields.
I n A la s k a th e o u tp u t and
p o p u la tio n o f th e T a n a n a G old fie ld s a lm o s t e q u a le d t h a t o f th e K lo n d ik e ,
a n d th e n u m erou s sm aller m in in g c a m p s a lo n g th e riv e r a ll s h o w e d in crea sed
a c t iv it y , w h ile m a n y n e w o n es sp ra n g in to e x is te n ce . T h e se ca m p s c o n ­
t r ib u te d sa tisfa c to r ily t o o u r tr a ffic , n o tw ith s ta n d in g t h a t t h e y are so m u c h
m o r e ea sily r ea ch ed th a n D a w s o n is fro m th e m o u th o f th e riv er.
O n th e C a n ad ian side o f th e b o u n d a r y th e ch a n g e fro m h a n d t o m a ch in e
w o rk fo r th e r e c o v e r y o f th e g o ld has m a d e s te a d y p ro g re ss, a n d p a r ticu la r
a t t e n t io n has been p a id t o d re d g in g w h e re th e g r o u n d is s u ita b le .
W e to o k
in th e m a terial fo r a n u m b e r o f la rg e d red ges in 190 5, a n d s o m e o f th e m
w ere in su ch su ccessfu l o p e r a tio n b e fo r e th e c lo s e o f th e se ason as t o g iv e
a g reat stim u lu s t o this m e th o d o f g o ld r e c o v e r y . T h e ra ilw a y co n n e c tin g
D a w s o n w ith th e c h ie f m in in g creek s w as c o m m e n c e d in 1905, a n d it is
h o p e d m a y b e c o m p le te d a n d o p e n e d t o t r a ffic in 1906.
T h e o th e r C a n a d ia n p la ce r g o ld fields h a v e all s h o w n in crea sed a c t iv it y ,
e s p e c ia lly A t lin , w h ic h d istrict is n o w a lm o s t e n tire ly o n a m a ch in e basis
w ith a la r g e ly in crea sed o u tp u t.
B y fa r th e m o s t im p o rta n t a n d In terestin g fe a tu r e in t h e d e v e lo p m e n t
w o r k o f 1905 w as in th e W in d y A r m D is trict b e tw e e n L a k e B e n n e tt an d
W in d y A r m , a p en in su la a b o u t 18 m iles in le n g th a n d 10 t o 12 In w id t h .
S ilv er a n d g o ld ore o f g re a t e x te n t a n d r u n n in g h ig h In v a lu e s h a v e be e n
d is c o v e re d a t m a n y pla ce s in th is pen in su la a n d a large a m o u n t o f w o rk
h as b e e n d o n e o n a n u m b e r o f th ese p ro p e r tie s , d e m o n s tr a tin g larg e o re
b o d ie s .
A n aerial tr a m w a y has b e e n in s ta lle d at o n e m in e t o c a rry ore
d o w n t o th e la k e , a n d a n u m b e r o f o th e rs are c o n te m p la te d .
I t seem s p r o b ­
a b le th a t, sh ou ld e q u a lly e n co u ra g in g results b e o b ta in e d in 190 6, a large
s m elter w ill b e bu ilt at s o m e p o in t o n th e la k e , a n d w e sh all h a v e t o ta k e
a c t iv e m easures t o p u t o u rse lv e s in a p o s itio n t o fu rn ish a d e q u a te and satis­
f a c t o r y se r v ic e t o th ese m in es.
W ith th is in v ie w s u rv e y s h a v e a lre a d y
be e n m a d e fo r a lte rn a tiv e lin es fr o m L o g C a b in , a n d fro m C a rib o u , t o th e
W in d y A r m M in es.
P R O F IT A N D LO SS ACCO U N T , P A R E N T C O M P A N Y ,
J U N E 30.
19 0 5 -0 6 .
£
Cvedit__
I n t . o n secu rities lo ca l c o m p a n ie s .
5 2 ,9 4 4
D iv id e n d s o n shares lo ca l c o s ____
98,4 7 9
M is c e lla n e o u s ________ _____________
598

1 90 4-0 5.
£
5 2 ,9 4 4
7 0 ,5 3 9
103

YEAR ENDED
______

190 3-0 4.
£
5 2 ,9 4 4
68,2 7 0
1,171

190 2-0 3.
£
52,9 4 4
7 3 ,0 6 5
506

152 ,021 1 23 ,586
122 ,385
T o t a l . .................................................
D ed u ct—
I n t . o n 1st M . c o n . d e b . s t o c k ___
3 7 ,3 3 5 3 7 ,3 3 5
3 7 ,3 3 5
15,333 1 5 ,333
15,3 3 3
I n t. o n n a v ig a tio n d e b e n tu re s ___
M a n a g em en t c h a r g e s ______________
3,7 6 3
3,8 3 8
3,7 9 3
C o m m ’ n fo r e x te n d in g n a v . d e b . 3,194
___________
______
I n c o m e t a x ............... .............................
1,497
535
4 ,5 3 3
2,7 5 9
3 ,2 8 9
3 ,2 5 4
M iscella n eou s____________ _________

126 ,515
37,335
15,334
4 ,4 9 5
______
4,8 4 1
4 ,1 0 0

T o t a l d e d u c t i o n s _______________
63,881
60,3 3 0
64,2 4 8
6 6 ,105
B a la n ce , t o b a la n c e s h e e t ________
88,1 4 0
63,2 5 6
5 8 ,1 3 7
60,410
D i v i d e n d s ________________________ a (5 )6 8 ,7 5 0 (5 )6 8 ,7 5 0 (4 )5 5 ,0 0 0 (5 )6 8 ,7 5 0
S u r p l u s __________________________
B a la n ce b r o u g h t f o r w a r d ________

19,390
1 1 ,544

d e f.5 ,4 9 4
33,0 4 0

3 ,1 3 7
4 4 ,3 2 6

d e f.8 ,3 4 0
66,128

T o t a l s u rp lu s ____________________
S in k in g f u n d ___________ _________ _

3 0 ,9 3 4
16,169

2 7 ,5 4 6
16,0 0 2

4 7 ,4 6 3
1 4 ,4 2 3

5 7 ,7 8 3
13,459

C arried f o r w a r d ________________

14,7 6 5

1 1 ,544

3 3 ,0 4 0

4 4 ,3 2 4

a I n c lu d in g Ja n . 1907 d iv id e n d .
W H IT E P A S S & Y U K O N R Y .. L IM IT E D .B A L A N C E S H E E T JU N E 3 0 .!
1906.
1905. 1
1906.
1905.
Assets—
£
£'
[ Liabilities—
£
£
Shares and securities
I S t o c k ---------------------- 1,375,000 1,375,000
of local com panles.2,374,011 2,374,01111st M. 5 % consol.
deb. s tock _______
746,702 746,702
D ue from local com ­
panies______ ______
48,069
95,261 N avigation deben___ 255,555 255,555
41
C a sh ________________
29,150
1,396 Sundry creditors____
115
68,792
Sinking fund_______
68,792
49,321 Sinking fund.............
19,321
Commis’ n extend’g
Profit and loss...........
X99.684
96,296
nav. deb. (three9,583
______
fourths)___________
Con. 1st M . deb. stk.
purchased for s. f .
16,169
---------M iscellaneous______
______
3,000
T o t a l .......................2,545,774 2,522,9

T o t a l .......................2,545,774 2,522,9

x This is the profit and loss surplus before deducting dividends, £ 68 ,750 , and
sinking fund, £16,169; total, £84,919. Allowing for these, the surplus carried for­
ward is £14,765. as shown in profit and loss account above.— V . 81, p. 1489.

Swift & Company (Packers), Chicago, 111.
(Report j or Fiscal Year ending Sept. 29 1906.)
A t the annual meeting held in Chicago on Jan. 3 Treasurer
L. A . Carton made the following statement:
T h e Im p rov em en t o f o u r p la n t has e n g a g e d o u r a t t e n t io n la r g e ly in th e
p r eced in g 1 2 m on th s, a n d w e h a v e d o n e a business o f c o n s id e r a b ly m o r e th a n
$ 20 0 ,0 0 0 ,0 0 0 a u rn g th e p ast y e a r . T o d o th is a m o u n t w e sla u gh tered
9 ,2 2 2 ,8 3 9 anim als a n d s h ip p e d 112,760 c a r lo a d s , w h ic h d o e s n o t in c lu d e
sales fro m p lan ts n ot requ irin g r a ilro a d e q u ip m e n t t o d e liv e r. T o p r o d u c e
a n d sell th ese g o o d s w e e x p e n d e d in w ag es a n d salaries o v e r $ 1 9 ,0 0 0 ,0 0 0 .
S o m e o f th e p r o d u c ts w e re as fo llo w s :
V a riou s k in d s o f fa ts , 5 1 1 ,7 5 6 ,0 0 0 lb s; 2 1 0 ,7 6 6 ,0 0 0 lb s . o f fe rtiliz e r ,
1 0 ,4 3 7 ,0 0 0 lb s. o f glu e, 9 ,6 0 0 ,0 0 0 lb s . o f wTo o l a n d 1 4 6 ,9 6 7 ,0 0 0 lb s . o f hides
a n d p elts, in a d d ition .to m e a t d is trib u te d t o th e re ta il tr a d e th r o u g h o v e r
300 b r a n c h hou ses a n d u p w a rd s o f 300 ag en cies.
A s g iv in g s om e id ea o f th e e x te n t o f o u r business o u ts id e o f th e U n ite d
S ta tes, ou r e x p o r t d ep a rtm e n t has g iv e n m e a list o f 80 co u n tr ie s , c o m p r is in g
su ch s ection s o f th e ea rth ’ s s u rfa ce as th e co n tin e n t o f A fr ic a a n d th e islan d
o f M a lta , an d o f g o v e r n m e n ts co n tr o llin g th e area o f t h e e m p ire o f R u ssia ,
co v e r in g o v e r 2 ,0 0 0 ,0 0 0 squ are m ile s, t o th a t o f th e k in g d o m o f B e lg iu m
w ith o n ly a b o u t 11,000 squ are m ile s, an d a ll re q u irin g th e ir ta s te t o b e c o n ­
su lted .




[V o l .

l x x x iv

D u rin g 1906 w e issued $ 1 5 ,0 0 0 ,0 0 0 a d d itio n a l c a p ita l s t o c k , w h ic h w as
p a id fo r in cash a t p ar (V . 8 2 , p . 5 2 ).
T h is b r o u g h t o u r cash ca p ita l u p t o
$ 5 0 ,0 0 0 ,0 0 0 . all p a id In a t p ar. W e p a id y o u d u rin g th e y e a r fo u r d iv i­
d e n d s o f 1 M % e a c h , 7 % , an d a d d e d 5 % t o o u r su rp lu s— $ 2 ,5 0 0 ,0 0 0 .
That
ite m n o w stands a t $ 1 2 ,4 9 6 ,0 0 5 , m a k in g th e b o o k v a lu e o f ea ch sh are o f
s t o c k a p p ro x im a te ly 125.
F o llo w in g is th e c o n d e n s e d financial s ta tem en t
o f o u r affairs a t th e en d o f th e fiscal y e a r , S e p t. 29 1906:
O pera tion s fo r fisca l years ending S ep t 29.
1905-06.
19 0 4 -0 5 .
190 3-0 4.
1902-03.
B u siness\ “ C o n s id e ra b ly o v e r
“ O ver
“ O ver
“ O ver
d o n e . . J $ 2 0 0 ,0 0 0 ,0 0 0 ”
$ 2 0 0 ,0 0 0 ,0 0 0 ” $ 2 0 0 ,0 0 0 ,0 0 0 ” $ 2 0 0 ,0 0 0 ,0 0 0 ”
D lv ld ’s _ (7 % )3 ,5 0 0 ,0 0 0
( 7 % )2 ,4 5 0 ,0 0 0 ( 7 % ) 1 , 7 5 0 ,0 0 0 ( 7 % ) 1 ,4 0 0 ,9 0 0
A d d e d to
1 ,5 0 0 ,0 0 0
su rp lu s
2 ,5 0 0 ,0 0 0
1 ,7 5 0 ,0 0 0
1 ,3 0 0 ,0 0 0
M a n u fa ctu red P rod u cts (in p o u n d s— 0 0 ,0 0 0 ’s om itted) in add ition to M e a ts.
F erB u tL ard. xO ll. S o a p . low . ferin e. G lue. H id e s . tillz er .W o o l.
147,0
10,4
210 ,8
9,6
1 9 0 4 -0 5 _______ .3 2 4 ,4
142,6
196,1
7,5
59,5
66,1
10,6
59 ,7
1 9 0 1 -0 2 _______ .2 9 8 ,9
104,5
154,6
51,5
7 ,5
38,5
13,7
40,6
1 9 0 0 -0 1 _______ .2 7 7 ,1
69,5
101,6
162,0
7,0
13,5
40,1
1 8 9 9 -0 0 .. . 245,7
68,5
98 ,0
119,1
6,9
37 ,0
12,1
1 8 9 8 -9 9 _______ .2 3 0 ,1
63,9
90 ,7
104,7
...
6,2
31,3
11,7
65,5
1 8 9 7 -9 8 ____ - .1 9 6 ,2
86,2
90,1
5,5
2 6 ,0
8,1
18 9 6 -9 7 _______ 161,7
57,2
78,9
66,9
5 ,7
24,2
1 8 9 5 - 9 6 .- . . . -1 2 9 ,1
51,7
63,9
73,9
23,4
7,5
5,1
18 9 4 -9 5 _______ _110,S 44 ,7
60,7
...
70,1
16,9
6,4
4 ,9
x In clu d in g s tea rin e.

y I n c lu d in g g rease.

B A L A N C E S H E E T S E P T . 29.
1905.
1906.
A s s e ts —
$
$
R e a l e s ta te , & c ________________________ 1 9 ,2 3 6 ,6 1 4
1 6 ,2 4 4 ,9 8 6
H o rse s, w a g o n s a n d h a rn e s s __________
128,466
113,047
I n v e s tm e n ts , In clu d in g b r a n c h e s ____
7 ,9 9 7 ,0 3 8
7 ,9 7 4 ,6 2 7
Q u ick assets—
S u n d r y s to c k s a n d b o n d s ___________ 1 1 ,4 9 8 ,8 0 0
8,0 2 4 ,2 9 4
C a s h _________________________ •_...........
3 ,1 9 0 ,6 9 2
2 ,7 3 9 ,6 2 4
A c c o u n t s r e c e iv a b le ________________ 2 9 ,3 3 0 ,8 6 2
2 0 ,9 9 0 ,7 6 8
L iv e c a t t le , s h e e p , h o g s , dressed
1 8 ,0 6 6 ,2 1 4
b e e f, & c ., o n h a n d ____ __________ 2 1 ,3 3 4 ,3 7 5
T o t a l a s s e ts ........ ..................... ............. .
L ia b ilities —
C a p ita l s t o c k p a id i n __________________
B o n d s _________________________________
R e s e r v e fo r b o n d In te r e s t____________
B ills p a y a b le ___________________________
A c c o u n t s p a y a b le ______________________
R e s e r v e fo r ta x e s , & c ________________
S u r p l u s ________________________________

1904.

$

1 4 ,6 9 9 ,9 8 7
106,449
7 ,6 5 2 ,5 1 9
7 ,8 8 9 ,9 9 8
2 ,4 8 5 ,9 6 3
1 6 ,2 9 0 ,9 9 0
1 5 ,5 3 1 ,1 8 9

9 2 ,7 1 6 ,8 4 7

7 4 ,1 5 3 ,5 6 0

6 4 ,6 5 7 ,0 9 6

5 0 ,0 0 0 ,0 0 0
5 ,0 0 0 ,0 0 0
6 2 ,5 0 0
1 9 ,7 5 5 ,1 3 0
4 ,2 0 6 ,3 6 6
1 ,1 9 6 ,8 4 6
1 2 ,4 9 6 ,0 0 5

3 5 ,0 0 0 ,0 0 0
5 ,0 0 0 ,0 0 0
6 2 ,5 0 0
2 0 ,5 0 9 ,8 0 6
2 ,8 9 0 ,2 8 6
6 94 ,963
9 ,9 9 6 ,0 0 5

3 5 ,0 0 0 ,0 0 0
5 ,0 0 0 ,0 0 0
6 2 ,5 0 0
13,334,661
2 ,4 7 5 ,9 9 6
537 ,9 3 2
8 ,2 4 6 ,0 0 5

7 4 ,1 5 3 ,5 6 0
6 4 ,6 5 7 ,0 9 6
T o t a l lia b ilitie s ____________ _________ 9 2 ,7 1 6 ,8 4 7
P re s id e n t, L . F . S w ift: V ic e -P r e s id e n t, E d w a r d F . S w ift; T rea su rer,
L . A . C a rto n ; S e c r e ta r y , D . E . H a rtw e ll.
D ir e c to rs , L . F. S w ift , E d w a rd
F. S w ift , D u m o n t C la rk e , L . A . C a rto n , J o h n R . R e d fte ld , C h arles H .
S w ift , D . M . A n t h o n y .— V . 8 4 , p . 54.

Railway Steel-Spring Company.
(Official Statement of Nov. 26 1906.)
The statement furnished to the New York Stock Exchange
in connection with the listing of $4,362,000 first mortgage 5 %
Latrobe Plant sinking fund bonds gives the following infor­
mation (compare V. 74, p. 984; V. 75, p. 80):
S aid b o n d s are p a r t o f a n a u t h o r iz e d 'is s u e o f 4 ,5 0 0 b o n d s fo r $1,000
e a c h , all o f w h ich w ere issu ed, b u t 138 th e r e o f h a v e b e e n r e d e e m e d an d
c a n c e le d . S e cu re d b y m o r tg a g e d a te d J a n . 1 1906 fr o m th e R a ilw a y SteelS p rin g C o. t o th e S ta n d a r d T r u s t C o . o f N e w Y o r k , as tru stee.
P r in cip a l
d u e Ja n . 1 1921, b u t th e c o m p a n y has th e rig h t t o r e d e e m o n a n y in terest
d a y th e w h o le or a n y p a r t o f said b o n d s a t 105 a n d Interest.
Annual
sin k in g fu n d $ 1 3 5,00 0 in cash fo r re tir e m e n t o f said b o n d s.
T h e proceeds of
said b o n d s w e re u sed t o p u rch a se fr o m th e L a tr o b e S teel C o. its re a l esta te,
p la n t a n d ce rta in o th e r p r o p e r ty .
T h e said m o r tg a g e c o v e r s th e fo llo w in g , p u rch a s e d f r o m th e L a tr o b e
S teel C o .: A b o u t 80 acre s o f la n d a t L a tr o b e , P a ., u p o n w h ich is lo c a te d
a th o r o u g h ly m o d e rn p la n t fo r th e m a n u fa c tu r e o f steel tires (a lm o s t a ll o f
th is la n d is s u b je c t t o a r e s tric tio n th a t th e c o a l sh all n o t b e m in ed t h e r e ­
f r o m ) ; le tte rs p a te n t Issued b y th e U n ite d S ta te s a n d E n g la n d h a v in g
u n e x p ir e d te r m s o f fr o m o n e t o se v e n y ears; rig h ts t o p a te n ts ; o il a n d gas
leases; p a te n t processes a n d In v e n tio n s, tra d e m a rk s, tr a d e r ig h ts , tr a d e
n a m e s , a n d g o o d -w ill, in clu d in g th e rig h t t o use t h e n a m e " L a t r o b e Steel
C o .”
T h e o il a n d gas leases c o v e r a b o u t 986 a cre s o n w h ich a re a c t iv e g a s
w ells a n d a b o u t 1,272 acre s o n w h ich th e r e a re n o w ells. T h e a cre a g e is all
in W e s tm o r e la n d C o u n ty , P a ., In th e n e ig h b o r h o o d o f L o y a lh a n n a C reekc o m m e n c e s a b o u t 3 y2 m iles f r o m th e c o m p a n y ’s p la n t a t L a tr o b e ; runs in a
gen era l n orth east a n d so u th w e st d ir e c tio n , a n d is c o n n e c t e d w ith said p la n t
b y g a s lin es co n s istin g o f a b o u t 25,000 fe e t o f 8 -ln ch p ip e , a b o u t 13,319
fe e t o f 6 -in ch p ip e a n d a b o u t 280 fe e t o f 4 -in ch p ip e .
T h e a n n u al c a p a c it y o f th e L a tr o b e Steel p la n t h e r e to fo r e has b e e n 3 6 ,0 0 0
to n s , a n d e x te n s iv e Im p r o v e m e n ts a r e n o w u n d e r w a y w h ich w ill in crea se
th e said a n n u a l c a p a c it y t o a b o u t 9 0 ,0 0 0 to n s .
S in ce N o v . 1 1905 th e c o m ­
p a n y has s p e n t, d ir e c t ly a n d In d ir e ctly , o v e r $ 5 0 0,00 0 o n a c c o u n t o f a d d i­
tio n s t o th e L a tr o b e p la n t, a n d a u th o r iz e d a d d itio n s a n d Im p r o v e m e n ts
t h e r e to (s o m e o f w h ich a re n o w u n d e r c o n s tr u c tio n ) ca ll fo r a fu rth er e x ­
p e n d itu r e o f fr o m $ 3 0 0,00 0 t o $40 0 ,0 0 0 . T h e a v e ra g e a n n u al n e t earn in gs
o f said L a tr o b e S teel C o. a t said p la n t du rin g th e p ast te n y e a r s , as sh ow n
b y its b o o k s , a m o u n t t o m o r e th a n $50 0 ,0 0 0 .
T h e R a ilw a y S te e l-S p rin g C o. is e n g a g e d in th e m a n u fa c tu r e o f steel
sprin g s fo r cars a n d lo c o m o t iv e s , ste e l-tire d c a r w h eels, lo c o m o t iv e s a n d
c a r w h eel tire s, steel b a r s , tires a n d sp ecial sh apes,
l t n o w o w n s a n d has
in a c t iv e o p e r a tio n th e fo llo w in g p la n ts :
Steel S p rin g P la n ts.
\
S teel-T ired W heel P la n ts.
L oca tion .
A cres.
A n n u a l C a p . | L o ca tio n .
A cres.
Annual C ap.
P itts b u r g h , P a .,
1J£
2 5 ,0 0 0 to n s | D e p e w , N . Y . ,
2.1
1 8 ,0 0 0 w heels
P h ila d e lp h ia , P a ., 1 A
15,000 “ | P ullm an , 111.,
2 .8
20,000
O sw e g o , N . Y . ,
7>i
15,000 “ I H u d s o n , N . Y . , 1.9
18,0 0 0
“
D e tr o it , M ic h .,
4 y2 * 6 0 ,0 0 0 “ |Scranton, P a .,
4 .0
6,000
E . S t. L o u is , 111., 7
20,0 0 0 “ |
-----------•,
^ '
I T o t a l,
6 2 ,0 0 0
“
T o t a l,
135,000 “ |
*
T ire P la n t.
IL a tr o b e , P a ., a b t. 80, j/3 6 ,0 0 0 ton s
* In clu d e s steel s p rin g , c a p a c it y 2 0 ,0 0 0 to n s; steel b a r , c a p a c it y 4 0 ,0 0 0
to n s . V B e in g in cre a se d to 9 0 ,0 0 0 to n s.
A ll o f th e a fo re sa id p la n ts are o w n e d in fe e . T h e y a re all th o r o u g h ly
m o d e r n , c o m p le t e ly e q u ip p e d a n d free fr o m e n c u m b r a n c e , e x c e p t th a t th e
L a tr o b e p la n t is s u b je c t t o th e m o r tg a g e se cu rin g th e se b o n d s t o list w h ich
th is a p p lic a t io n is m a d e .
In a d d itio n t o said p la n ts t h e c o m p a n y c o n tr o ls
th e o u t p u t o f t h e s te e l-tire d w heel p la n t o f th e R a ilw a y S te e l-S p rin g C o .,
a C o lo r a d o c o r p o r a t io n , a t D e n v e r , C o l., h a v in g a c a p a c it y o f 7 ,5 0 0 w heels.
N E T E A R N I N G S O F T H E C O M P A N Y F R O M J A N . 1 1906 TO S E P T .
30 1906 ( P A R T L Y E S T I M A T E D ) .
N et earnings a fte r d e d u ctin g o p e r a tin g a n d g e n e ra l e x p e n s e s -------$1,6 4 1 ,3 4 3
D ed u ctio n s—
708 ,7 3 4
P re fe rre d s to c k d iv id e n d (9 m o n th s ) ( 5 H % ) ............... .....................
C o m m o n s to c k d iv id e n d p a id A p ril 3 1906 ( c o m p a r e f o o t -n o t e to
b a la n c e sheet) ( 2 % ) . ......................................................................... ............
269 ,994
In terest o n L a tr o b e P la n t 5 % b o n d s ........ ................................................
160,793
T o t a l d e d u c t io n s ....................................................................................... ..$ 1 ,1 3 9 ,5 2 1
B a la n ce , su rplu s, fo r n in e m o n th s ............................................................. .. $ 5 0 1,82 2
C h a rg e d o ff fo r s p e cia l exp e n se s In c o n n e c t io n w ith a c q u is itio n o f
L a tr o b e p la n t --------------------------------------------------------------------------- -----4 5 0 ,0 0 0
B a la n c e ........................................ - ....... ..............................................................

$51 ,822

THE CHRONICLE.

J a n . 12 1907.)

B A L A N C E S H E E T SE PT . 30 1906 (P A R T L Y E S T IM A T E D ).
Sept. 30 '0 6. Dec. 31 ’05.
Sept. 30 ’06. D ec. 31 ’05.
Liabilities—
$
S
Assets—
S
S
Stock, preferred-.13,500,000 13,500,000
Plants, pat. rights
and good-will - .29,426,519 24,560 266 Stock, com m on__ 13,500.000 13,500,000
Mdse, on hand____ 2,043,109 1,152 736 Latrobe plant 5%
m tge. bonds
4,365,000
----------Stocks and bonds251,738
764 ,839
371,119
295,646
Accounts receiv’le . 1,901,537 1,847 .353 Accounts payable
78,7501
Bills receivable___
17,073)
33 ,2851 Pret. dividend____
|Interest accrued
56,2501120,965
A d v. forin s. prem 14,746/
43.774J
C a sh _____________
357,892 1,104 ,03l j Taxes, & c .........
♦Surplus_______
2,097,721 2,045,899
T o t a l __________34,012,614 29,462,510!

T o t a l __________ 34,012,614 29,462,510

*O n O ct. 20 1906 a dividend of 2% on the com m on stock was paid. This pay­
m ent am ounted to 8269,994 and was made o u t ot the above surplus.
“ O c t . 1 n o t b e in g o n e o f th e c o m p a n y 's r e g u la r in v e n t o r y p e r io d s , th e
figu res fo r th e a b o v e b a la n c e sheet a n d th e e a rn in g s a r e p a r t ly e s t im a t e d .”
— V . 8 3 , p . 147 4, 1417. __________ ^
___________

101

so ta k e n o v e r .
T h e fa c t th a t steam w a s ’ d isp e n se d w ith as a rn otiv e’ p o w e r
an d e le c t r ic it y s u b s titu te d , it is h e ld , do e s n o t a ffe c t th e q u e s tio n o f fa res,
as s u ch c h a n g e m a y b e m a d e u n d e r gen eral law s u p o n c o m p lia n c e w ith th e
r e q u ire m e n ts o f th e s ta tu te .— V . 8 3 , p . 1 12 2, 1098.

California Northwestern R y.— M erger.— See Northwestern
Pacific R R . below.— V. 83, p. 271.
California Street Cable RR., San Francisco.— Opposition to
Sale.— A committee consisting of Edmund Tauszky and John
B. Casserly has ,addressed a communication to the stock­
holders advising against the sale of stock on the terms of­
fered by the United Railroads, namely, for each $100 share
$25 cash and $125 in 4 % notes, payable in ten annual in­
stallments. The total issue of stock is $1,000,000. Reso­
lutions against the sale adopted by the shareholders at a
meeting on Dec. 19 say in part: *
T h e r o a d an d m a ch in e ry h a v e b e e n re s to re d w it h o u t assessm en t, a lt h o u g h
w e fa ile d t o c o lle c t $45 ,000 in su ra n ce . A lo n g th e lin e b u ild in g s are r a p id ly
b e in g e re c te d .
W h e n w e r e c e iv e th e b a la n c e o f o u r ca rs , w e shall b e d o in g
as g o o d business as p re v io u s t o A p ril 18 1906.
O ur tre a su ry is in g o o d c o n ­
d itio n . T h e r e ce ip ts sin ce w e s ta r te d , A u g . 18, w ith fo u r ca rs, h a v e b een
$10 1 ,6 3 4 . T h e p rice o ffe re d us is n o t o n e -lia lf o f t h e v a lu e o f th e p r o p e r t y .
— V . 8 2 , p . 279.

G E N E R A L IN V E S T M E N T N E W S .

RAILROADS, INCLUDING STREET ROADS.
Alexander & Eastern R y.— New X a v ie.— This line was
Canada Atlantic Railway.— To Guarantee Bonds.— This
form< rly the Alexander & Rich Mountain Railway.— V. 77,
company, controlled by the Grand Trunk R y ., has called a
p. 509.
Alexander & Rich Mountain R y.— New N am e.— This line meeting of the shareholders for Feb. 7 to vote on—
A p p r o v in g o f an ag re e m e n t en te re d in to w ith th e P e m b r o k e S ou th ern
is now the Alexander & Eastern Railway.— V. 77, p .509.
R a ilw a y C o ., S. R . P o u lin , et al, b e a r in g jd a te F e b . 16 1906 a n d a u th o riz in g
Atchison Topeka & Santa Fe R y.— Interest in Consolidated th e d ir e cto r s o f th e c o m p a n y t o g u a ra n te e th e p a y m e n t o f th e p rin c ip a l an d
te re st o f th e first m o r tg a g e b o n d s t o be issu ed b y th e P e m b r o k e S o u th e r n
Com pany.— See Northwestern Pacific RR. below.— V. 84, in
R a ilw a y C o . in a c c o r d a n c e w ith th e p r o v is io n s o f th e sa id a g re e m e n t. C o m ­
p a re V . 8 2 , p . 45 1 , 1101.
p. 50.
Canon City Florence & ;Royal^Gorge£Interurban Electric
Atlantic Coast Line R R .— Sale.— See Macon Dublin &
R R .— Receivership.— At'Canon City, Colo., on Jan. 3, Judge
Savannah RR. below.— V. 84, p. 50.
Aurora Elgin & Chicago R R .— Bonds Offered.— Edward V. Bailey in the District^Court, on application of C. C. Durkee,
Kane & Co., North American Building, Philadelphia, are a creditor, appointed ex-Governor James H .^Peabodyias re­
offering at 95 and interest §250,000 first and refunding 5s, ceiver of the property. Frank D. Heath/President; of the
Great Western Coal Co., recently ^purchased an interest in
due 1946.
Earnings.— The said bankers report for the vear ending the property from Vice-President and General|Manager F. S.
Granger, and the receivership, it is asserted, was precipi­
Oct. 31 1906:
tated by a controversy^betweenf these men and their, asso­
G ross e a r n in g s _________ ...$ 1 ,2 2 7 ,2 1 1 ] In te re st o n u n d e rly in g b d s . $25 0,00 0
ciates. At last accounts 10 miles of the line were^comO p era tin g e x p e n s e s _______
674 ,169 |In t. o n 1st & r e fu n d in g 5s
5 0 ,000
pleted but not in operation. Compare V. 82, p. 1268.
$253,042
$553,042
N et e a r n in g s _______
Sulplus
— V . 8 3 , p . 4 9 0 , 212.
Cape Breton Coal, Iron & R y.— D efault.— The interest due
Bennington & Hoosick Valley (Electric) R y.— Change in Jan. 1 on the $500,000 bonds remains unpaid. A plan of
Control— M erger.— This company, which recently passed consolidation with other properties is said to be pending.
under the control of the Consolidated Railway Co. (New See V. 79, p. 2794.
York New Haven & Hartford), was on Jan. 9 consolidated
Chicago Indianapolis’ &JLouisvilleJRy.— Listed.— The New
with the Bennington & North Adams Electric R R . Co. The York Stock Exchange has',;listedi$58,000 additional refunding
capital stock of the new company is $650,000, in shares of mortgage 5 % bonds of 1947, making the total amount listed
$100 each. Charles S. Mellen is President. Franchises, it $5,000,000.— V. 83, p. 1347.
is said, have been acquired for an extension to Troy, N. Y .—
5 Chicago Milwaukee &l.St. Paul R y.— Circularjas to Frac­
V. 75, p . 1398.
tional Rights.— The circular, sent to the shareholders on Jan.4
Boston Elevated R y .— Report.— The results for the year regarding the cash payment which will be made to the stock­
ending Sept. 30 were:
holders on account of fractional rightsj,to£subscribe to the
G ross.
N et.
Oth. in c .
Ch arges. D i v .( 6 % ) B a l.,s u r .
new* stock, says:
Y ea r.
$
$
$
$
$
$
1 9 0 5 -0 6 ____ 13,5 2 7 ,1 8 6
1 9 0 4 -0 5
1 2 ,6 8 9 ,6 7 6
— V . 8 3 , p . 1590.

4 ,2 2 0 ,2 3 5
4 ,0 7 2 ,0 2 3

107 ,427
5 1 ,893

3 ,4 7 5 ,8 8 3
3,2 8 8 ,8 3 1

7 9 8 ,0 0 0
798 ,0 0 0

53,779
37,085

Boston & Maine R R .— Notes Sold.— The company has
arranged to sell to a syndicate consisting of Kidder, Peabody
& C o., R. L. Day & Co., Estabrook & Co. and F. S. Moseley
t^C o. $3,000,000 of one-year notes, S I,000,000 of which,
dated Jan. 15, are being offered on a 5 % basis. Of the re
mainder, $1,000,000 will be dated Feb. 1 and $1,000,000
March 1. The notes will probably bear 5 % interest, al­
though the rate has not been definitely determined.— V. 83,
p. 1098.
Boston & Worcester Electric Companies.— Report.— The
report of this company, which holds all except S100 of the
$1,725,000 stock of the Boston & Worcester Street Ry. Co.,
is as follows for the year ending Sept. 30:
F is c a l
Y ea r—
1 90 5-0 6
1 9 0 4 -0 5

----------------R e c e i p t s --------------------- P f d .D l v . M is c .
B a l.,
D iv ld ’ s.
Other.
T otal.
$4 p er sh.
E xp.
Sur
$ 1 0 3,49 4 $10 ,9 7 9
$ 1 1 4,47 3 $11 1,74 4
$2,632
$9j
103 ,488
4 ,5 5 5
108 ,043
105,744
2,2 5 6
43
E a rn in g s 0/ B o sto n & W orcester Street R y .
Y ear—
G ross.
N et.
In terest.
T a x es.
D iv id en d . B a l.,S u r
1905-06 ..$ 5 1 4 ,4 6 5
$ 2 1 5,07 3
$95 ,0 3 2
$37 ,6 4 3
(6 % )$ 1 0 3 ,5 0 0
$8,898
1904-05 . - 4 5 3 ,9 0 5
2 1 8 ,7 1 0
8 0 ,5 2 5
3 3 ,1 2 3
( 6 % ) 103,494
1,568
C a p ita liz a tio n o f B o s to n & W o r c e s te r E le c tr ic C o m p a n ie s , 3 3 ,9 3 6 pre
erred shares an d 34,614 c o m m o n shares; n o d e b ts o f a n y k in d ; p r o fit a n d
loss su rplu s $ 2 ,4 8 2 .
A sse ts, $2,182 ca sh a n d $ 6 0 0 ,0 0 0 o f th e n o te s an d
17,249 shares o f th e s t o c k o f th e B o s to n & W o r c e s te r S tre e t R y . — V . 8 3 ,
p . 1227.

Brooklyn Heights R R .— To Guarantee Bonds.— Brooklyn
Union Elevated 4-5 % bonds and Kings County Elevated
4 % bonds will be guaranteed on two days in each month
in 1907 by the Brooklyn Heights R R . Co. at 85 Clinton St.,
Brooklyn, N. Y ., between 9 a. m. and 12 m. as follows:
J a n u a ry
16
F e b ru a r y
15
M a rch
15
A p ril
16
— V . 8 1 , p . 1722.

and
and
and
and

30
28
29
30

M ay
Ju n e
J u ly
A u gust

16
15
16
16

and
and
an d
and

30 j S e p te m b e r
2 9 1O c to b e r
3 0 1N o v e m b e r
3 0 1D e ce m b e r

16
16
15
16

an d
and
and
and

30
30
29
30

Brooklyn Rapid Transit Co.— Ten-Cent Fare to Coney Island
Held Legal.— The New York Court of Appeals on Tuesday,
in the test case begun last summer, sustained the right of the
companj1' to charge a double (10-cent) fare over its lines to
Coney Island. The decision was unanimous, Judge Haight
writing the opinion. Compare V. 83, p. 379, 434.
B riefly s t a t e d , th e C o u rt h o ld s th a t t h e d e fe n d a n t w as in c o rp o ra te d as a
s treet s u rfa ce ra ilr o a d , a n d In c a se lt leases o r o p e ra te s a n y o th e r street
s u r fa c e r a ilroa d s w ith in th e c it y lim it s , lt m u s t , u n d e r th e p ro v is io n s o f
S e c tio n s 101 a n d 104 o f th e r a ilro a d la w , w h ic h a p p ly t o stre e t railroads
a lo n e , fu rn ish tr a n s p o r ta tio n o v e r su ch leased c o n n e c tin g ro a d fo r o n e fare.
U n d e r th e gen eral railro a d la w , th e C o u rt s a y s , th e d e fe n d a n t, h o w e v e r ,
w as a u th o r iz e d t o lease a n d o p e r a te th e e le v a te d a n d ste a m su rfa ce roa d s
w h ic h It uses as a p a rt o f its th ro u g h lin e t o C o n e y Isla n d a n d is e n title d t o
all o f th e p riv ileg es a n d ben efits a u th o r iz e d b y th e ir c h a r t e r s /o n e o f these
b e in g th e rig h t t o c h a rg e th ree ce n ts p e r m ile o v e r th e fo rm e r ste a m road s




T h e e x e c u t iv e c o m m it t e e has "a d o p t e d t h e fo llo w in g p la n p r o v id in g fo r
th e fra ctio n a l shares o f e a ch s to c k h o ld e r ; T h e c o m p a n y w ill fin d t h e t o t a l
a m o u n t o f th e fra c t io n a l shares a n d w ill issue p r e fe rre d a n d c o m m o n s t o c k
fo r th e sam e a n d sell th is p re fe rre d a n d c o m m o n s to c k a t a u c tio n .
F rom
th e a m o u n t th u s re a liz e d t h e y w ill d e d u ct $100 a sh a re , as be in g th e a m o u n t
d u e th e c o m p a n y , a n d w ill d iv id e th e b a la n c e b e tw e e n th e fr a c t io n a l sh a re­
h o ld e rs In p r o p o r t io n t o th e ir h o ld in g s o n D e c. 19 1906.
A c h e c k w ill b e
m a ile d t o e a ch fr a c t io n a l h o ld e r fo r th e a m o u n t t o w h ich h e is en title d .
T ills p la n w ill b e c a rrie d o u t as,.soon as th e c o m p a n y is a b le t o d o s o . —
V . 84, p . 5 0 .

Chicago Rock'Island J&2Pacific|Ry.— New\Trustees.— The
Bankers’ Trust Co. of New York^and Benjamin Strong Jr.
have been appointed trustees under the general mortgage
dated Jan. 1 1898, succeeding the Central Trust Co. of New
York and George Sherman. The appointment of Mr. Strong
will take effect omMarchll next.— V. 83, p. 1590, 1227.
Cincinnati Hamilton & DaytonJRy.— January Interest Paid
Without Issue of Receivers’ Certificates.— Judson Harmon,
Receiver, Jan. 4 1907, replying to our inquiry, says:
"•-N o c e rtifica te s w e re issu ed fo r th e p u rp o s e o f raisin g fu n d s t o p a y th e in ­
terest d u e Ja n . 1 190 7, b y th e C. H . & D . a n d P e re M a rq u e tte r a ilroa d s .
T h e in te re st o b lig a tio n s o f b o tli ro a d s d u e o n th a t d a te w ere p a id b y th e
R e c e iv e r o u t o f th e n e t earn in gs.
T h e r e c e iv e r s ’ ce r tific a te s d a te d Ja n . 1
190 6, w h ich m a tu re d J a n . 1 190 7, w e re e x te n d e d u n til J u ly 1 1907 a t 6 %
........................
— V . 8 3 , p . 1 0 3 3 ,9 6 9 .

Cleveland' Electric Ry.— Decision^by^', United States Su­
preme Court.— The United States Supreme Court on Monday
affirmed the decision of Judge Tayler in'?the United States
Circuit Court in April last (V. 80, p. 1970; V. 81, p. 1847),
holding that the franchises of the company in Central Ave­
nue S. E ., Quincy Avenue S. E . and East 9th Street expired
March 22 1905 and do not run until 1914 as claimed by the
company. The Court also confirmed JJudge Tayler’s ruling
that the franchise granted'on these streets to the Forest City
Ry. is void,it having been designated as anjextension of the
franchise of the Cleveland Electric R y ., which had already
expired. The decision disposes of the contention of the
counsel of the Cleveland Electric Ry. that the City Council
had, intentionally or otherwise, extended.the franchises of
various of the company’s lines to July 13 1913, but does not
in any other respect remove the cloud from any of the
franchises granted to the Forest City Ry. whose validity is
disputed on similar grounds. All of the latter’s franchises
are, moreover, involved in the “ personal interest” suit,
which will be heard by Judge Phillips on Jan. 21. Presi­
dent Andrews, at a public meeting on Thursday, offered to
operate the Central and Quincy Avenue lines at cost and
charge a 3-cent fare pending the submission of another
offer. Compare V. 83, p. 1469.
New Companies.— See Cleveland Tramway and Low Fare
railways below .

102

THE CHRONICLE.

Reduced Fares.— The company began on Dec. 31 the sale
of seven tickets for a quarter on all lines, with two transfers
on all cross-town lines. President Andrews says the new
arrangement will be given a thorough test in order to demon­
strate the fairness of the proposition recently made to the
City Council.— V. 83, p. 1469.
Cleveland Tramways Go.— New Com pany.— This company
was incorporated on Oct. 9 last, with $50,000 capital stock,
by interests identified with the Cleveland Electric Ry. The
company, it is thought, may bid on the Central and Quincy
avenue and other franchises held by the Cleveland Electric
R y ., which, under the recent decision of the United States
Supreme Court, have already expired or will terminate from
time to time within a few years. Harry J. Crawford is
President. See Cleveland Electric R y . above.
Consolidated Railway., Connecticut.—-Acquisition.— See
Bennington & Hoosick Valley Ry. above.— V. 83, p. 1523.
Erie RR.— Sale of Notes.— The “ Boston News Bureau”
of Jan. 9 says:
F . S. M oseley & C o. h a v e pu rch a se d $ 1 ,0 0 0 ,0 0 0 liv e a n d s ix m o n th s 6 %
n o te s o f th e Erie R R . a n d are o fferin g th e m a t p a r a n d In terest.
T h e n o te s
are d a te d $50 0,00 0 D e c. I 1906, $5 0 0 ,0 0 0 Jan . 2 190 7, a n d m a tu re J u n e 1
1907 an d J u ly 1 1907. T h e y are th e last a llo tm e n t o f t h e issue w h ic h J. P .
M org a n & C o. t o o k s om e m o n th s a g o .

The same firm was -reported in December last as offering
$1,000,000 6% notes of the Erie due April 1907, to net
about 6 ^ % . — V. 83, p. 1590, 1228.
Forest City Ry. of Cleveland.— Decision of United States
Supreme Court.— See Cleveland Electric Ry. above.
New Companies.— See Cleveland Tramway and Low Fare
railways below.— V. 83, p. 1469.
Great Northern R y.— Again Postponed.— In the absence of
a decision in the Minnesota injunction case, the company
has again postponed the closing of the transfer books for the
purposes of the new issue of stock and the time limit for the
filing of subscriptions, this time until 3 p. m. Jan. 15. The
time for filing assignments has been postponed until 3 p. m.
Jan. 18 and the time for making the first payment has been
postponed until Jan. 21.— V. 84, p. 51.
Gulf & Chicago R y .— Purchase of Coupons.— As forecasted
last week, certain persons interested as stockholders and
bondholders of the Gulf & Chicago and Mobile Jackson &
Kansas City have agreed to purchase'the coupons on the
Gulf & Chicago bonds which matured Jan. 1, and payment
is being made on presentation at the office of the company,
5 Nassau St.
Report.— See report of Mobile Jackson & Kansas City Ry.
on a preceding page.— V. 84, p. 51.
Hartford & Springfield Street R y.— Offering of Guaranteed
Bonds.— See Rockville Broadbrook & East Windsor Street
R y. below.— V. 83, p. 213.
Illinois Cantral RR.— Purchase of Stock.— See Union Pa­
cific R R . below.— V. 84, p. 51.
Kansas City Mexico & Orient R y.— Sale of Bonds— Status
of Enterprise.— A dinner, attended by 450 business men of
Kansas City and vicinity, was given in Kansas City on Jan. 2
for the purpose of making known the present status of the
enterprise and the great benefits to accrue to the city by the
completion of the road. At or before the dinner subscrip­
tions were obtained for about $370,000 of a block of $1,500,000 first mortgage bonds, which it was desired to sell in order
to provide for the early opening of the line from Kansas City
to San Angelo, Tex., a distance of 711 miles, of which tem­
porarily 114 miles from Kansas City to Emporia would be
trackage over the road of some other company.
President Stilwell in a speech said in substance:
A s th e K ansas C ity S ou th e rn b r o u g h t th e G u lf p o r ts c lo s e t o K a n sas C ity ,
so w ill th e K ansas C ity M e x ico & O rient bring th e P a cific c o a s t c lo s e to
K a n sas C ity. T h e O rient crosses th e c o u n t r y d ia g o n a lly , crossin g e v e r y
railroa d In th e sou th w est te r rito r y an d In M e x ico at rig h t a n g les, m a k in g
e v e r y on e o f these lines feeders t o th e O rient r a ilro a d . T h e p r o p o s e d ra il­
r o a d d oes n ot cross a m ile o f d e se rt. A ll o th e r ra ilroad s t o th e P a cific co a st
tra verse b etw een 500 an d 600 m iles o f d e se rt.
(C om p a re V . 8 3 , p . 141 1 ).
F ou rteen m illion d olla rs has been p u t in to th e ra ilro a d , a n d th e re Is n o t
on e d olla r o f W all S treet m o n e y in th e w h o le a m o u n t.
W e h op e t o h a v e train s in o p e r a tio n fro m K ansas C ity t o San A n g e lo ,
711 m iles, b y O c to b e r o f this y e a r . T o d o th is lt Is n ecessary t o raise $1 ,5 0 0 ,0 0 0 .
I am p rou d o f th e fa ct th a t w ith b u t o n e o r t w o e x c e p tio n s e v e r y
m a n in K ansas C ity , S t. L o u is , H o lla n d an d E n g la n d w h o in vested w ith m e
In th e K an sas C ity S ou th ern is w ith m e In th e O rie n t.
It has been o u r h a b it
t o p a y as w e g o o n th e O rien t.
W e h a v e p aid fo r e v e r y fo o t o f tra ck t h a t
Is n ow In u se, an d ou r b o n d e d d e b t o n th e en tire system d oes n o t a m o u n t to
m o r e th a n $ 1 ,0 0 0 ,0 0 0 .
W e w a n t th is m o n e y n o w s o th a t w e can p la c e o r ­
ders fo r th e n ecessary m a te ria l t o finish th e line fro m E m p o r ia t o S an A n ­
g e lo .

The invitation to attend the dinner was accompanied by
a letter written under date of Dec. 15 by J. T. Odell, formerly
General Manager of the Northern Pacific. This letter speaks
confidently of the probable earning capacity of the road,
the writer basing his opinion on the exceptional fertility of
the soil in eastern Kansas, Oklahoma and a portion of Texas,
and the prospect for a considerable tonnage of ore and lum­
ber from the Mexican mining and timber districts. Mr.
Odell says in part:
T h e c o n s tr u c tio n n ow stan d s a s 'fo llo w s : T h e re are a b o u t 200 m iles c o m ­
p leted and in op e r a tio n fro m W ic h ita — so u th in to O k la h o m a , an d fro m
S w e e t w a 'e r , rl e x . , east t o K n o x C ity , a d is ta n c e o f 78 m ile s, th e road Is in
successful o p e r a tio n . T h e g a p be tw e e n th e T e x a s a n d K an sas lines is 162
m iles, all o f w h ich Is g r a d e d , and 40 m iles o f rails on th e g r o u n d .
T h e line
is also p r a c tic a lly gra d ed fro m El D o ra d o t o E m p o r ia , K a n ., a d ista n ce o f
63 m iles; and from S w eetw a te r to San A n g e lo , T e x . , a d ista n ce o f 77 m iles.
A s there are n o b o n d s o f a n y a c c o u n t o u t a t this t im e , and p r a c t ic a lly n o
floa tin g d e b t , It is p ro p o s e d t o sell $ 1 .5 0 0 ,0 0 0 b o n d s In a d d itio n t o th e $ 5 0 0 ,000 recen tly sold (b u t th e p ro ce e d s n o t y e t u s e d ), m akin g a to ta l at p re se n t
o f $2 ,0 0 0 ,0 0 0 . and w ith this m o n e y finish u p th e p ieces a b o v e m e n t io n e d ,
w h ich will g iv e a co n tin u o u s line o f 597 m iles; th e n ta k e t r a c k ig e te rn o o
ra rily o v e r som e ex is tin g line b etw een K ansas C ity an d E n n o r ii, a b o u t
114 m iles, w h ic h w o u ld g iv e a lin e o f 711 m iles In len g th In th e U n ite d S t a t e s .




IV o l .

l x x x iv

.

In th e R e p u b lic o f M e x ico th e lin e is c o m p le t e d east o f C h ih u ah u a fo r a
d ista n ce o f 80 m iles a n d fro m M in aca (w h ich is th e w estern term in u s o f th e
C h ihu ahua & P a c. R R ., 125 m iles in le n g th , le a s e d ), th e line is c o m p le t e d
an d in o p e ra tio n fo r a dista n ce o f 63 m iles; fro m th e w est c o a s t to w a rd th e
S ierra M adre M o u n tain s th e re are 76 m iles in o p e r a tio n an d g r a d in g Is g oin g
a h e a d , as it is also o n th e lin e w est o f M ln aca.
T h e re s h o u ld , th e re fo re , be in o p e ra tio n d u rin g 1907 775 m iles o w n e d
a n d a b o u t 275 m iles le a se d , o r a to ta l o f 1,050 m ile s ,w ith , sa y , o n ly $ 2 ,0 0 0 ,000 b o n d s o u t , th e interest o n w h ich is n o w a b o u t o n e -h a lf earn ed o n 278
m iles o f d is c o n n e c te d r o a d , an d b e fo re th e p ro ce e d s o f th e sale o f th e b o n d s
are a v a ila b le . T h e d is c o n n e c te d s e ctio n s , o p e r a te d n ecessarily In a t e m ­
p o r a r y w a y , sh ow earnings t o -d a y e qu a l t o o n e -th ir d o f th e g ross earnings
p e r m ile as sh ow n in th e e stim a te o f c o m p le te d r o a d . T h is w ill h o ld g o o d
o n a ll th e c o m p le te d r o a d in th e U n ited S ta te s, an d is e v id e n c e e n o u g h t h a t
th e fu ll e stim a te w ill be m e t w h en th e line is finished a n d e q u ip p e d .
[T h e c o m p a n y is a u th o riz e d t o issue p er m ile o f c o n s tr u c te d r o a d $ 2 0 ,0 0 0
e a ch o f c o m m o n a n d preferred s t o c k a n d $22 ,500 first m o r tg a g e 4 % b o n d s,
w ith $ 2 ,5 0 0 ,0 0 0 a d d itio n a l b o n d s a v a ila b le fo r h e a v y w o rk in th e Sierra
M ad re M ou n ta in s. T h e m o n e y fo r c o n s tr u c tio n has h e r e to fo r e c o m e
c h ie fly fro m sale o f s to c k o f th e c o n s tr u c tio n c o m p a n ie s , v i z ., th e U n ion
C o n s tr u c tio n C o. (a u th o rize d c a p ita l s to c k $ 3 ,0 0 0 ,0 0 0 ; V . 75, p. 1258;
V 7 7 , p . 5 1 3 ), w h ich t o o k th e c o n tr a c t fo r b u ild in g th e 420 m iles fro m
K an sas C ity w e ste r ly , an d th e In te rn a tio n a l C o n s tr u c tio n C o . (V . 75, p.
1257; V . 77, p . 254 , 513; V . 7 9 , p. 2 4 6 0 ), w h ich is b u ild in g th e rem a in d er o f
th e lin e t o th e P a cific co a s t. T h ese co m p a n ie s w e re t o r e c e iv e p er m ile o f
c o m p le te d r o a d $12 ,500 c o m m o n s to c k an d $16,000 preferred s to c k a n d an
a m o u n t o f first m o r tg a g e b o n d s w h ic h , in th e case o f th e U n ion C o m p a n y ,
w as $15 ,000 p er m ile (w ith o u t e q u ip m e n t), and in th e case o f th e In te rn a ­
tio n a l $18 ,0 0 0 (In clu d in g $2,000 per m ile o f e q u ip m e n t ), an d an a d d itio n a l
$ 2,5 0 0 ,0 0 0 fo r h e a v y w o rk In th e Sierra M adre M o u n tain s.
T h e b o n d s h eld
b y th e c o n s tr u c tio n c o m p a n ie s p re su m a b ly fo r th e tim e be in g bear n o in ­
te re st, an d th e re fo re are n o t c o n s id e re d o u t s t a n d in g .— Ed.J C o m p a re V .
7 5 , p. 1253; V .8 3 , p. 1411.

Lehigh Valley R R .— Movement to Obtain Larger Dividends.
Joseph Walker Jr. and Jacob Halsted announce:
A t th e re q u e st o f a n u m b e r o f s to c k h o ld e r s, b u t n o t in o p p o s itio n t o th e
o p e r a tin g m a n a ge ent o f th e c o m p a n y , w e h a v e In stitu ted a m o v e m e n t t o
secu re pro x ie s fo r th e p u rp o s e o f o b ta in in g a b e tte r r e c o g n itio n o f th e rig h ts
o f su ch s to c k h o ld e r s as a re In fa v o r o f h a v in g th is s to c k lis te d o n th e N ew
Y o r k S to c k E x c h a n g e , a n d also In fa v o r o f a la rg e r d is trib u tio n o f p ro fits ,
w h ich It Is a p p a re n t fr o m th e earn in gs o f th e c o m p a n y th e s to c k h o ld e r s
sh o u ld re ce iv e .
S h a reh old ers are In vited t o sen d their p r o x ie s , fo r use a t
th e a n n u al m e e tin g In P h ila d e lp h ia o n J a n . 15, t o th e u n d e rsig n e d , in ca re
o f J o se p h W a lk e r & S o n s , 20 B ro a d S t ., N ew Y o r k C ity .
A p r o x y g iv e n
t o th e presen t m a n a g e m e n t c a n b e r e v o k e d b y th e e x e c u t io n , t o th e u n d er­
s ig n e d , o f o n e o f la te r d a te .

Joseph Walker & Sons recently issued an exhaustive cir­
cular regarding the company.— V. 83, p. 1524.
Louisville & Nashville R R .— Increase in Other Incom e.—
See Nashville Chattanooga & St. Louis Ry. below.— V. 83,
p. 1037,818.
Low Fare Ry. of Cleveland.— New Com pany.— This com­
pany was incorporated on Dec. 22 1906, with $250,000 au­
thorized stock (to be increased later), by the Johnson inter­
ests, to take over recent 3-cent-fare franchises granted by
the City Council, and, it is thought, become successor to the
Forest City Ry. in the event of the decision in the “ financial
interest” case being adverse to that company (see V. 83,
p. 1469). The City Council on Dec. 31 passed an ordinance,
by unanimous vote, granting the new company franchises
over a number of streets extending from East 14th Street to
the West Side. The President is Carlos E. Moore and the
Vice-President W . B. Colver, who is also Secretary of the
Municipal Traction Co., the lessor of the Forest City Ry.
Macon Dublin & Savannah R R .— Change in Control.— The
control of this company, which was acquired in 1904 by the
Atlantic Coast Line interests, it is announced, has been pur­
chased by or in the interest of the Seaboard Air Line Ry.
The line extends from Macon to Vidalia, Ga., 9 2 miles. A new
first mortgage for $1,880,000 (one account says 81,804,000)
was recently authorized, replacing, it is supposed, the SI
380,000 old first 5s and $500,000 second mortgage 5s. There
is also outstanding $2,040,000 of capital stock. Alfred
Walter, President of the Seaboard Air Line, has been elected
President.-r-V. 84, p. 51.
Manila Electric Railroad & Lighting Corporation.—
Earnings.— Messrs. J. G. White & Co. of this city, who are
the managers and engineers of this property, report gross
earnings for the late calendar year of $909,080 and net earn­
ings of $444,457. These figures are for the combined rail­
way, lighting and trucking departments.— V. 83, p. 1229.
Milwaukee Electric Railway & Light Co.— New Stock for
Extensions and Additions.— A meeting of the shareholders
has been called for Jan. 21 to vote on increasing the common
stock from its present authorized limit of $15,000,000 ($9,000,000 outstanding) to an amount to be determined at the
meeting. An official statement says:
A d d itio n a l ca p ita l m u st b e p r o v id e d in th e near fu tu re fo r th e e x te n s io n
o f th e c o m p a n y 's ra ilw a y lines w ith in th e lim its o f th e c it y ; fo r th e c o n ­
str u c tio n o f new p o w e r-g e n e ra tin g s ta tio n s o r a d d itio n s t o Its e x s tin g sta ­
tion s; fo r th e c o n s tr u c tio n o f ca r h ou ses, m a ch in e s h o p s a n d o th e r p u rp oses
re q u ire d t o m e e t th e g ro w in g business o f th e c o m p a n y .
T h e board o f
d ire cto rs deem It w ise a t this tim e t o m ak e co m p r e h e n s iv e p r o v is io n n o t
o n ly fo r th e Im m ed iate req u irem en ts o f th e c o m p a n y , b u t fo r all th a t m a y
b e re a s o n a b ly a n tic ip a te d d u rin g a lo n g p eriod o f years, and c o n s id e r th a t
su ch p r o v is io n (In a d d itio n t o th e re fu n d in g an d e x te n s io n m o rtg a g e b o n d
Issue h e re to fo re a u th o riz e d ) s h o u ld b e m a d e t h r o u g h Increased Issues
o f c o m m o n ca p ita l s to c k .

New Bonds and Stock for Subsidiary.— See Milwaukee Light
Heat & Traction Co. below.— V. 82, p. 100.
Milwaukee Light, Heat & Traction Co.— Neio Stock and
Bonds.— In view of the plans of the management for f rther
extensions and the acquisition of other properties, the share­
holders are notified that at the annual meeting to be held on
Jan. 21 they will be asked to vote on authorizing a new issue
of “ refunding and extension mortgage” bonds to such an
amount as may be determined at the meeting, and also
on increasing the capital stock, now unclassified, either by
the addition of new common stock or common and preferred.
— V. 80, p. 872.
Mobile Jackson & Kansas City R R .— Report.— See “ Annual
Reports” on a preceding page.
Purchase of Coupons on Leased Line Bonds.— See Gulf &
........................................
Chicago Ry. above.— V . 84, p. 51.

J a n . 12 1907.]

THE CHRONICLE

Nashville Chattanooga & St. Louis R y.— Dividend In ­
creased.— The directors on Jan. 8 declared a semi-annual divi­
dend of 3 % on the capital stock, payable Feb. 1 to stock­
holders of record Jan. 21. This increases the annual rate
to 6 % , contrasting with—
D I V I D ’ D S 1 ’ 89 t o '9 2 . 1 8 9 3 . 189 4. '95 t o '9 8 . ’ 99 t o ’ 0 3 . 190 4. 190 5. 1906.
S in ce ’8 8 .% J 5 y e a r ly .
3J4 4 y e a r ly .
N one.
4
5
5

Of.the $10,000,000 capital stock, $7,177,600 is owned by
the Louisville & Nashville R R .— V. 83, p. 815.
New York New Haven & Hartford R R .— N otes.— In reply
to our inquiry regarding the published report of its recent
purchase of notes of the company additional to those taken
by other firms and institutions, as mentioned in this column,
the Rhode Island Hospital Trust Co. of Providence, on Jan.
4, writes:
Y o u r In qu iry d ou b tless re fe rs t o a n ite m p u b lis h e d w h ic h is s o m e w h a t
m islea d in g . T h is c o m p a n y has ta k e n fo r Its e lf an d its c u s t o m e r s several
o f th e n otes o f this c o r p o r a t io n (N . Y . N . H . & H . R . R . C o .) , b u t n o t
t o th e e x te n t o f ev en $ 1 ,0 0 0 ,0 0 0 , m u c h less $ 3 ,0 0 0 ,0 0 0 .

A press report from New Haven states that the recent issue
of notes has been made in anticipation of the payments due
on the $30,000,000 3J^% convertible debentures offered to
stockholders of record Dec. 31 1905, on the subscriptions to
which the final installments of 25% each will not be due until
July 1 1907 and April 1 1908, respectively. Compare V. 8 4 /
p . 52; V. 83, p . 1591.
New Issue of Notes Offered.— Hornblower & Weeks, Bos­
ton and New York, and Lee, Higginson & Co., Boston, have
purchased and are offering $10,000,000 5 % notes, of which
$5,000,000 mature in four and $5,000,000 in five years,
without option of earlier redemption. Interest payable
Jan. 9 and July 9. Coupon notes in denominations of $5,000,
$10,000, $25,000 and $50,000 each. The 5-year bonds are
offered at 102 and the 4-year bonds at 1 0 1 ^ , both with in­
terest added to date of delivery, netting investors about 4.55
per cent.
The same firms recently offered $7,000,000 of 5 % notes,
one-half maturing Jan. 9 1910 and one-half Jan. 9 1912,
making $17,000,000 in all purchased by the firms named,
in addition to which $6,000,000 or more were sold to other
parties late in 1906. The proceeds of these notes will, it is
understood, provide for the company’s capital requirements
for some time to come. Compare V. 84, p. 52; V. 83, p. 1591.
Purchase of Real Estate.— See Massachusetts Gas Compa­
nies under “ Industrials” below.
Trolley Acquistiion.— See Bennington & Hoosick Valley
(Electric) Ry. above.
Holders of 314% Convertible Bonds to Be Permitted to Sub­
scribe to New Stock Issues.— It is officially announced that in
future opportunity will be given to holders of the $30,000,000
3 x/ i% convertible bonds of 1906 to share with the stock­
holders in the right to subscribe to any new stock issues,
each $150 of debentures to be treated as a share of stock.
By their terms these debentures will be convertible into stock
at option of the respective holders between Jan. 1 1911 and
Jan. 1 1916, $150 in debentures for $100 of stock.— V. 84,
p. 52.
Norfolk & Portsmouth Traction Co.— Listed in Philadel­
phia.— The Philadelphia Stock Exchange has listed $1,150,000 additional first mortgage 5 % gold bonds, making the
total amount listed $3,150,000.— V. 83, p. 1171.
'Northern Central Ry.— Listing.— The New York Stock
Exchange has authorized the listing on and after Jan. 15 of
$2,149,200 additional capital stock, making total amount
listed $19,342,600. See V. 83, p. 1471.
E a rn in g s fo r 11 m onths ending N ovem b er 30.
____ 5 1 0 ,6 0 2 ,4 5 3 1T o t a l n e t in c o m e __________ $ 3 ,0 2 4 ,6 0 2
G ross ________
N et - ........................... ............
2 ,3 6 2 ,7 1 6 1Charges ----------------------------9 5 2 ,2 8 6
6 6 1 ,8 8 6 | Sem l-an d iv id e n d ( 4 % ) . .
687 ,734
O th er in c o m e ____________
Su rplu s fo r 11 m o n th s o v e r o n e se m i-a n n u a l d iv id e n d o f 4 % _ _ $ i ,384,582
C om p a re V . 8 3 , p . 1471.

Northern Pacific RR. (Foreclosed).— Notice to Holders of
XJnassented Stock.— The committee representing the old
stock which did not assent to the last reorganization plan,
has decided that after Jan. 21 1907 no further deposits of
stock shall be received by the Fidelity Trust Co., Philadel­
phia. See V. 83, p. 1412.
Northern Pacific R y .— New Stock Issue Approved.— The
shareholders on Jan. 7 ratified the proposition to increase
the capital stock from $155,000,000 to $250,000,000.—
V. 83, p. 1471, 1524.
Northern Securities Co.— Report.— A circular signed by
President Hill shows:
R esu lts fo r C a lenda r Y ea r 1906.
D iv id e n d s fr o m —
D ed u ctio n s —
$3,562
C. B . & Q- R R - C o -----------$ 1 0 3,57 9 T a x e s ________________________
E xpen ses o f a d m in is tr a t e ..
49,710
7 C r o w ’s N est Pass C oal
r*"
C o ., L t d .............................. 144 ,640 D iv id e n d Ja n . 190 6, 5 % . . . 197,020
n terest a n d e x c h a n g e --------1 6 ,1 7 3 1
T o t a l d e d u c t llo n s ________ $250,292
T, T o t a l r e c e ip ts -------------------$26 4,39 2 i B a la n ce , s u r p u s __________ $14,100
B a la n ce Sheet D e c . 31.
1906.
190 5.
I
190 6.
1905.
C redits—
$
5
D eb its—
$
$
O rg a n , e x p e n s e 85,048
8 5 ,0 4 8 1C apital s t o c k ___ 3,9 5 4 ,0 0 0 3 ,9 5 4 ,0 0 0
In v estm en ts
6 ,0 5 3 ,0 8 6 6 ,0 4 7 ,6 0 7 1Surplus---------------- 2,6 1 3 ,5 2 4 2,5 9 9 ,4 2 3
C a s h . . . ................ 4 2 9 ,3 9 0
420,7681
T o t a l .................. 6,5 6 7 ,5 2 4 6 ,553,4231
— V . 8 3 , p . 1525.

T o t a l .................. 6 ,5 6 7 ,5 2 4 6 ,553,423

North Shore RR. (California).— M erger.— See North­
western Pacific R R . below.— V. 83, p. 156.
" Northwestern Pacific R R .— Consolidation.— This company
was incorporated on Dec. 31 under the laws of California




103

with $35,000,000 capital stock and nine directors, five of
whom are officials of the Southern Pacific and four officials
of the Atchison Topeka & Santa Fe, to take over by con­
solidation or otherwise the following roads:
C a lifo rn ia N o rth w e s te rn R y . (V . 8 3 , p . 2 7 1 ), S an F r a n cis c o & N o r t h P a ­
cific R y . (V . 8 3 , p . 1 1 6 9 ), th e N o r t h S h o re R R . ( V . 8 3 , p . 1 5 6 ), th e E u rek a
& K la m a th R iv e r R R . C o ., th e F o r t B r a g g & S o u th e a s te rn R R . a n d th e
San F r a n cis c o & N o rth w e s te rn R R . C o .
(V . 7 7 , p . 5 1 2 .)

The report of the Southern Pacific, which was published
in the “ Chronicle” Dec. 22 1906, shows (page 1539) that that
company on June 30 1906 owned all or nearly all the capital
stock of the foregong companies except the Fort Bragg
& Southeastern and San Francisco & Northwestern, which
were Atchison properties. Directors of new company:
E . E . C a lv in , V ic e -P r e s id e n t a n d G eneral M a n a g e r o f th e S o u th e r n P a ­
cific; W illia m F . H e rrin , h ead o f th e law d e p a rtm e n t o f th e S o u th e r n P a ­
cific; N . T . S m ith , T rea su rer o f th e S o u th e rn P a cific , a n d P e te r F . D u n n e ,
C h ief C ou n sel o f th e S o u th e rn P a cific; A . H . P a y s o n , A s s is ta n t t o th e P resi­
d e n t o f th e A tc h is o n ; E . S. P llls b u ry , C o u n se l fo r th e A tc h is o n ; W . A . B lssell, A ssista n t T r a ffic M anager o f th e A t c h is o n , a n d E d w a r d C h a m b ers,
A ssista n t F re ig h t T r a ffic M anager o f th e A t c h is o n . A ll th ese m e n h a v e
th e ir o ffic e s In San F ra n cis co .

Overton County (Tenn.) RR.— New Control.— The Chicago
interests that supplied the money for building the road, it is
stated, have taken over the control of the company. George
L. Wilkins of Chicago has been elected President, vice H . E .
Overstreet, who resigned as President, having severed his
connection with the enterprise. The other officers, in­
cluding Vice-President and General Manager, II. E. Speyer
of Chicago; Treasurer, Secretary and General Counsel,
E. C. Knight of Livingston, are unchanged.— V. 83, p. 626.
Pennsylvania R R .— Listing.— The New York Stock Ex­
change has authorized the listing from time to time prior ,to
July 1 1907 of $1,694,400 additional capital stock on notifica­
tion that it has been issued in exchange for the common, first
preferred and second preferred stocks of the Cumberland
Valley R R . Co., making total amount authorized to be
listed $307,627,700.
E a rn in g s fo r Y e a r E n d in g J u n e 30 1906
G ross e a rn in g s_________ $ 1 4 1 ,7 5 2 ,6 2 1 1T o t a l n e t i n c o m e . . - _____ $ 5 7 ,4 4 3 ,6 8 7
N e t e a rn in g s_____________ 44,8 0 8 238 |C h arges __________________ 3 4 ,8 2 1 ,6 2 2
O th er In c o m e ____________ 1 2 ,6 3 5 ,4 4 9 1D iv id e n d s ( 6 % ) __________ 1 8 ,2 4 2 ,0 6 9
B a la n ce , surplus fo r y e a r _________________________________________ $4 ,3 7 9 ,9 9 6

Offer of Exchange.— See Philadelphia & Erie R R . below.
New Securities.— The shareholders will vote at the annual
meeting on March 12 on “ an increase of the capital stock of
the company, and an increase of the bonded indebtedness,
such increase of either to be made from time to time when
and as in the judgment of the directors it may be required
by the corporate needs of the company.” Referring to this
announcement, an official statement given out Thursday
evening, says:
N o tic e w ill a p p e a r in th e n e w sp a p e rs t o -m o r r o w m o r n in g c a llin g th e
ann u al m e e tin g o f th e s to ck h o ld e rs fo r M a rch 12 1 90 7, a n d sta tin g th a t th e
m a n a g e m e n t w ill th e n ask th e shareh olders t o a u th o r iz e an Increase In
th e ca p ita liz a tio n o f th e c o m p a n y . A lt h o u g h th e e x a c t a m o u n t has n o t
y e t b e e n d e te rm in e d , it is lik e ly th a t th e p r o p o s e d in crea se w ill b e r e q u e s te d
in th e fo r m o f $ 1 0 0 ,0 0 0 ,0 0 0 in c a p ita l s t o c k a n d $ 1 0 0 ,0 0 0 ,0 0 0 in b o n d s , t o
b e issued In su ch a m o u n ts a n d a t such tim e s as th e n e e d s o f th e c o m p a n y
re q u ire . T h e a m o u n t o f c a p ita l s to c k a lre a d y issu ed , w ith th a t reserved
fo r th e c o n v e r s io n o f th e o u ts ta n d in g c o n v e r tib le b o n d s, v e r y n e a r ly
a p p ro a ch e s th e fu ll sum n o w a u th o riz e d . T h e re fo r e , w h ile it m a y n o t b e
n ecessary t o issue a n y p a rt o f th e p r o p o s e d n ew s to c k o r b o n d s d u r in g
th e cu rre n t y e a r , y e t t h e c o m p a n y desires t o h a v e a u t h o r it y fr o m Its
shareh olders t o m a k e su c h Issue w h e n circu m s ta n ce s s o r e q u ire . T h e
la w s o f th e S ta te o f P e n n s y lv a n ia p r o v id e th a t c a p ita l Increases shall first
b e a u th o rize d b y a m a jo r it y o f th e sh a re h o ld e rs, a n d t h e m o s t a p p ro p r ia te
a n d co n v e n ie n t w a y fo r a c o m p a n y o f th e size o f th e P e n n s y lv a n ia R R . C o .,
w h ic h has o v e r 40,000 s to c k h o ld e r s, t o o b ta in su ch n ecessa ry a u th o r it y
Is a t th e ann u al m e e tin g , o f w h ic h n o tice is g iv e n t o th e s to c k h o ld e r s, an d
s u ch has b e e n t h e c u s t o m o f th e P e n n s y lv a n ia R R . C o . In th e p ast.

Last June, when announcing the French loan of $50,000,000, obtained on notes of the Pennsylvania Com pany, Presi­
dent Cassatt stated that the proceeds were to ' be used to
pay for 33,000 steel cars and 313 locomotives, which were
being constructed at a cost of $42,000,000, and to complete
a water-supply system. At the same time, speaking of
future requirements, Mr. Cassatt said (V. 82, p. 1439):
T h e Im p ro ve m e n ts n o w a u th o rize d a n d u n d e r c o n t r a c t In clu de all th e
h e a v y w o r k a t p resen t c o n te m p la te d , w ith t h e e x c e p t io n o f th e a d d itio n a l
re lie f lines re fe rre d t o In th e la st a n n u a l r e p o r t, an d it w ill n o t b e necessary
t o p r o c e e d w ith th ese fo r se v e ra l y e a rs , e x c e p t t o secure th e rig h t o f w a y ,
w h ich is n o w be in g d o n e . T h e c o m p a n y w ill n o t , th e r e fo r e , as fa r as c a n
n o w b e fo re se e n , h a v e t o m e e t a n y large ca p ita l req u ire m e n ts fo r so m e years
b e y o n d w h a t w ill b e n ece ssa ry t o p a y o ff th e $ 5 0 ,0 0 0 ,0 0 0 o f n o te s m a tu rin g
N o v . 1 190 7, a n d t o p r o v id e th e m o n e y n e e d e d a fte r th e c lo s e o f th is y ea r
t o c o m p le te th e N e w Y o r k te rm in a l. T h is e x p e n d itu r e , w h ic h w ill b e spread
o v e r th e y e a rs 1907 a n d 1908, is e stim a te d a t $ 4 0 ,0 0 0 ,0 0 0 .

A representative of the Pennsylvania is quoted as saying
that Mr. Cassatt could not have foreseen when he made this
statement the recent great increase in the company’s business,
on account of which the company has recently been
obliged to contract for 17,000 additional cars to cost about
$19,000,000. It is thought by some that the stockholders
will authorize a new issue of convertible bonds, the additional
stock to be held to provide for the convertible feature.
M r. F rick’s Holding.— “ A close friend” of H. C. Frick is
quoted as saying that Mr. Frick owns 168,000 shares (par
value $8,400,000) of the company’s stock, not 60,000 shares
(par $3,000,000) as recently reported.— V. 84, p. 52.
Peoria & Pekin Terminal Co.—Foreclosure.— Judge Hum­
phrey, in the United States Circuit Court at Springfield, 111.,
on Jan. 3 ordered the sale of the road in foreclosure. The
company will have ten days in which to pay the amount
due after the date of the sale has been fixed. The upset
price was fixed at $600,000.— V. 83, p. 1291, 1171.
Philadelphia & Erie RR.— Offer for M inority Stock.— The
Pennsylvania R R ., it is said, contemplates offering its own
stock, dollar for dollar, for the minority common stock.
On Dec. 31 1905 the Pennsylvania owned $3,499,800 of the

104

THE CHRONICLE.

$7,985,000 common stock and all of the special 7 % stock.—
.V. 82, p. 925.
Railroad Securities Co.— Sale of Stock.— See Union Pacific
R R . below.— V. 83, p. 1037.
Rock Island Southern R R .— Bonds Offered:— The $400,000
first mortgage 5 % gold bonds offered at 98 and intei’est by
Mason, Lewis & Co., Chicago, Philadelphia and Boston
(V. 84, p. 52), are the oustanding portion of an issue limited
to $2,500,000, dated Jan. 1 190/ and due Jan. 1 1947, but
optional after five years at 105 and interest. “ The trust
deed provides that additional bonds may be issued only for
6 0% of the cost of the property during construction and 2 5 % ,
or a total of 8 5 % , when the net earnings from operation
equal one and one-half times the interest charges on the
bonds issued and to be issued.” Capital stock authorized,
$3,000,000; issued, §500,000.
A b stract o f L etter from P resid en t M . A . W a lsh , M o n m o u th , III., D ec . 1 1906,
T h e lin e has b een p r a c tic a lly c o m p le t e d fro m M o n m o u th t o G alesbu rg ,
a n d in o p e r a tio n sin ce tn e lirst o f Ju n e fo r passengers a n d w ill be r e a d y fo r
freig h t b e fo r e Jan . 1 1907, p u ttin g S a n ta F e fre ig h t in to M o n m o u th an d the
I o w a C en tral freigh t in a n a o u t o f G ale sb u rg . T h e s u rv e y s are p r a c tic a lly
c o m p le t e d t o R o c k Isla n d a n d co n tr a c ts fo r c o n s tr u c tio n w ill be let th e lirst
o f tn e year: th e r o a d , w ell e q u ip p e d fo r ste a m a n d e le ctr ic p o w e r, t o be
c o m p le t e d a n d in o p e r a tio n d u rin g 1907. W e n o w o p e ra te 18
m iles o f
m a in tr a c k , o f w h ich 2 H m iles are leased, a n d in a d d itio n w e o w n 9 ,5 0 0 feet
o f sid in g an d spurs c o n n e c tin g w it h o t h e r r a ilr o a d s .
T h e e x te n sio n to R o c k
Isla n d w ill a d d a b o u t 60 m iles.
B etw een M o n m o u th a n d G alesbu rg th e
c o m p a n y ow n s its o w n p r iv a te rig h t o f w a y , 66 fe e t in w id th .
A t M on­
m o u t h th e c o m p a n y has th e o n ly fra n ch ise fo r e le ctr ic s treet ra ilw a y. T h is
fra n ch ise is fo r 20 y e a rs , an d v e r y lib e ra l, p e r m ittin g tr a n s p o r ta tio n o f
freig h t; w ith th e e x c e p t io n o f a b o u t % m ile , th e tra ck is n o w laid an d in
o p e r a tio n .
A t G alesbu rg th e passen gers, e x p re ss a n d b a g g a g e are carried
in to th e c it y , 2 -4 m iles, b y v ir tu e o f a 2 5 -y e a r c o n t r a c t w ith th e P e o p le ’s
T r a c t io n C o. at 2 V, cen ts p e r p assen ger, In clu d in g b a g g a g e , an d 2 % o f th e
g ross c o lle c te d fo r express.
T h e P e o p le ’s C o m p a n y ’s p o w e r is in clu d e d in
c o m p e n s a tio n .
T h e fre ig h t term in als in b o t h M o n m o u th an d G alesbu rg
w ill be op e r a te d b y ste a m p o w e r a n d u p o n p r iv a te rig h t o f w a y .
T h e line is laid w ith 7 5 -lb . steel rails u p o n w h ite o a k tie s, 2,640 t o the
m ile; b a llastin g w ith gra v e l nearin g co m p le tio n ; m a x im u m g ra d e . H % .
T h e p o w e r hou se is situ a te d at C a m e ro n an d co n ta in s tw o 400 K . W . G e n ­
eral E le c tr ic C o. g e n e r a to r s , e a ch w ith a c a p a c it y o f 600 H . P .
B o th p a s ­
sen ger an d freight cars are e q u ip p e d w ith fo u r 60 H . P . W e stin g h o u se m o ­
to r s , g eared t o fifty m iles: th e p resen t ste a m e q u ip m e n t con sists o f o n e lo c o ­
m o t iv e a n d five freig h t cars.
P o p u la tio n se rv e d : G ale sb u rg , 3 1 ,000; M o n ­
m o u t h , 10,500; C a m e ro n , 500; in te ru rb a n p o p u la t io n . 1,750; to t a l, 4 3 ,7 5 0 .
T h e e x te n s io n t o R o c k Isla n d w ill tra v e rse o n e o f th e finest fa rm in g d is­
tricts in th e S ta te , c o n n e c tin g w ith t h e to w n s o f N o r w o o d , V io la , B o d e n ,
P r e -E m p t io n , R e y n o ld s a n d M ilan t o R o c k Isla n d an d passing th r o u g h an
e x te n s iv e coa l field.
T h is line ca n be b u ilt w ith a g ra d ie n t n o t t o e x c e e d
}4 % , an d c o n s tr u c tio n w ill be o f th e v e r y b e st ste a m railro a d c o n s tr u c tio n
and w ill be b u ilt fo r b o th ste a m a n d e le c tr ic ity , laid w ith 8 0 -p o u n d s te e l
rails.
I estim a te th e gross earnings o f this e x te n s io n w ill reach 5 1 ,0 0 0 ,0 0 0
fo r th e first y e a r a fte r c o m p le tio n an d ca n b e o p e r a te d fo r fro m 5 0 % t o
6 0 % , lea vin g a net In co m e o v e r o p e r a tin g e x p en ses o f fro m $40 0,00 0 to
5 5 0 0 ,0 0 0 , a gain st w h ich th ere w ill b e an in terest ch a rg e o f a b o u t $ 1 0 0 ,0 0 0 .

For the five months ending Oct. 31 190G the gross receipts
from passenger traffic only were $32,325; net, $18,841.—
V. 84, p. 52.
Rockville Broad Brook & East Windsor Street R y .—
Guaranteed Bonds Offered.—-James H. Parish & Co., New
Haven, recently offered for sale a block of this company’s
$200,000 1st mortgage 5 % 20-year gold bonds of $1,000 each,
due April 2 1926, but subject to call at 110 and interest.
Interest payable April and Oct. Trustee of mortgage.
State Treasurer of Connecticut. Principal and interest
unconditionally guaranteed by the Hartford & Springfield
Street Ry. Co. (V. 83, p. 213) and so endorsed on each bond.
A circular says:
T h e ra ilw a y has be e n m e rg e d in to th e H a r tfo r d & S p rin gfield s y s te m
as th e R o c k v ille d iv isio n .
It runs th ro u g h R o c k v ille . E llin g to n , M elrose,
B r o a d B r o o k a n d W a re h o u se P o in t, o p p o s ite W in d s o r L o ck s (1 3 .6 m ile s ),
servin g a p o p u la tio n o f o v e r 2 2 ,000.
B o n d e d fo r o n ly 5 0 % o f c o s t o f c o n ­
s tr u c tio n , o r $14 ,700 p er m ile.
T h e a n n u a l in te re s t ch a r g e is o n ly $ 1 0 ,0 0 0 .
a n d th e ro a d is sh ow in g n et e a rn in gs o f tw o a n d o n e -h a lf tim e s its in terest
■charges, a n d also p r o d u c in g v e r y p r o fita b le n e w business fo r th e o th e r
d iv ision s. A ll fra n ch ise rig h ts a re p e rp e tu a l.
T h e H a r tfo r d & S prin g field
S t . R y . ow n s a n d o p e r a te s th e lines o n b o t h sides o f th e C o n n e c tic u t R iv e r ,
fo rm in g th e o n ly c o n n e c tin g lin k b e tw e e n th e C o n s o lid a te d R a ilw a y Co.
p ro p e rtie s a n d th os e o f th e N e w E n g la n d S e c u r ity & In v e s tm e n t C o ..
b o t h o f w h ich are v ir tu a lly u n d e r o n e c o n t r o l.
T h e H a r tfo r d & S p rin gfield
S treet R y . C o. p a y s 6 % d iv id e n d s o n its p r e fe rre d s t o c k .

St. Louis & Suburban R y .— Bonds to be Guaranteed.—
Notice is given by advertisement to the holders of 5 % gen­
eral mortgage gold bonds issued under' date of April 1 1903
that under the deed of conveyance by the company to the
United Railways Co. of St. Louis, the holder of any of said
bonds is entitled to present the same at the offices of the
President or Vice-President of the United Railways Co. of
St. Louis in St. Louis, and have indorsed thereon the guar­
anty of payment of both principal and interest thereof by
the said United Railways Co. of St. Louis. Presentation
may be made on all week days between 10 and 12 a. m.
at the offices aforesaid, except Fridays, when presentation
may be made between 1 and 2 p. m. at the offices of the
Altheimer & Rawlings Investment Co., No. 207 North Broad­
way, St. Louis. Compare V. 84, p. 52.
San Francisco & North Pacific R y .— M erger.— See
Northwestern Pacific RR. above.— V. 83, p. 1169, 273.
Seaboard Air Line R y .— A cquisition.— See Macon Dublin
& Savannah RR. above.— V. 83, p. 1412.
Underground Electric Railways of London.— New Subway
in Operation.— On Dec. 15 this company’s subsidiary, the
Great Northern, Piccadilly & Brompton R y ., put in opera­
tion its new- underground electric railway from Hammer­
smith to Finsbury Park via Piccadilly and King’s Cross.
See statement by Sir Edgar Speyer on page 7 of the
“ New York Times” for Jan. 6, and compare “ Chronicle,”
V. 83, p. 1588.
Financial.— At the annual meeting on Dec. 21 Sir Edgar
Speyer, Chairman of the company, said in substance:
W ith in a b o u t six m o n th s th e U n d e r g r o u n d C o m p a n y w ill b e o u t o f th e
c o n s tr u c tio n p e r io d , a n d w ill h a v e c o m p le t e d its s y s te m o f t u b e r a ilw a y s ,
a n d , th ere is reason t o b e lie v e , th e c o s t w ill n o t h a v e e x c e e d e d th e e s tim a te s
fra m ed .
U n fo r tu n a te ly this s a t is fa c t o r y resu lt has be e n c o u n t e r a c t e d




[V o l.

l x x x iv .

b y th e c o n tin u a n c e o f u n fa v o r a b le m o n e y m a rk e ts .
T h e ra te o f in terest
fo r loan s nas been c o n s t a n t ly a d v a n c in g , a n d th e p rice s o f se cu rities h a v e
be e n a d v e r s e ly a ffe c te d g e n e ra lly .
U n der th e cir c u m s ta n c e s , th e c o m p a n y co n sid e re d it best t o m ak e a call
i n A u g u s t last o f £ 2 10s. p er sh a re , a n d i f these u n fa v o r a b le m o n e y c o n ­
d itio n s co n tin u e , it w ill p r o b a b ly b e n ecessary t o ca ll up th e e n tire c a p ita l.
T h e c o m p a n y is w ell p r o v id e d w ith m ean s t o raise th e m o n e y n ecessary
t o finish th e w ork s still in h a n d , a n d it w ill h a v e o v e r £ 1 ,0 0 0 ,0 0 0 o f d e b e n ­
tu res, an d a large a m o u n t o f s to ck s o f th e v a rio u s co m p a n ie s in its trea su ry .
It has, fu rth e r, a v a lu a b le asset In th e C helsea p o w e r h o u se , t h e su rp lu s
p o w e r fr o m w h ich can b e d is p o s e d o f t o o u ts id e co n ce rn s .
A b eg in n in g
has been m a d e b y su p p ly in g th e L o n d o n C o u n ty C o u n cil E m b a n k m e n t
t r a m w a y s w ith e le ctric cu rre n t.
B e fo re th e n ew lines h a v e been ru n n in g fo r a t least tw e lv e m o n th s as a
u n it, it Is im p o s sib le t o express a n y o p in io n as t o th e earn in g c a p a c it y o f
t h e s y s te m , b u t th e b o a r d has e v e r y c o n fid e n ce th a t th e tr a ffic and
r e v e n u e w ill s te a d ily increase.
O ur p o lic y w ill be t o e n c o u r a g e c o n s o li­
d a tio n a n d c o -o p e r a tio n n o t o n ly a m o n g s t th e c o m p o n e n t p a rts o f th eir
s y s te m , b u t c o -o p e ra tio n a lso w ith o th e r c o m p a n ie s a n d m u n icip a l a u th o r ­
ities w h o a im t o Im p r o v e th e t r a ffic fa c ilitie s o f L o n d o n .— V . 8 3 , p. 1588.

Union Pacific RR.— Interest in Consolidated Company.—
See Northwestern Pacific R R . above.
Stock Acquisitions.— With reference to the purchases of
stock noted in our last issue, the following facts appear from
the minutes of the directors’ meeting as read before the InterState RR. Commission:
T h e Illinois C en tral s t o c k ($2 8 ,1 2 3 ,1 0 0 ) o w n e d b y th e U n io n P a cific ,
w as a cq u ire d th ro u g h th e p u rch ase at $175 a share as o f A u g . 1 1906
(1. e ., e x -d iv id e n d ) o f $1 0 ,5 0 0 ,0 0 0 (par value) fro m K u h n , L o e b & C o.
a n d $3,0 0 0 ,0 0 0 ea ch fr o m E . H . H a rrim a n , H . H . R o g e rs a n d Ja m es S till­
m a n , in a ll, $19 ,5 0 0 ,0 0 0 . A t th e sam e tim e th e c o m p a n y a c q u ir e d fro m
M r. H arrim an (o n t h e sam e basis o f v a lu e fo r Illin ois Cen tral) his m a jo r it y
interest in th e s to c k o f th e R a ilro a d S ecu rities C o .,
w h ic h ow n s (as i t .
o n ly asset o th e r th a n cash) 95,000 shares o f Illinois C en tral R R . s to c k s
s u b je c t t o th e p le d g e o f 80,0 0 0 shares t o secu re $ 8 ,0 0 0 ,0 0 0 p a r v a lu e o f
4% certltica tes re d e e m a b le at 105 an d in t e r e s t .” O n O c t . 25 1906 th e
U n io n P a cific d ir e cto r s ratified th e p u rch a se , t h r o u g h M r. H a rrim a n ,
fro m S tu y v e sa n t F ish o f a ll th e rem ain in g s to c k o f th e S e cu rities C o .,
n a m e ly . $662,500 preferred s t o c k a n d S I , 192,500 c o m m o n , th ere b e in g
g iv e n in p a y m e n t $87 6,90 0 s :o c k o f Illinois Cen tral o w n e d b y th e U n ion
P a cific and $1.5 5 7 .0 2 0 cash . T h e $ 9 ,5 0 0 ,0 0 0 Illinois C en tral s to c k ow n.-d
b y th e Securities C o ., ad d e d t o th e $1 9 ,5 0 9 ,0 0 0 pu rch ased o u tr ig h t, m ak es
afte r d e d u ctin g th e $87 6,90 0 tu rn e d o v e r t o M r. F ish as part p a y m e n t fo r
his holdin gs in th e Secu rities C o .. th e a fo re s a id to t a l o f $ 2 8 ,1 2 3 ,1 0 0 .

At the hearing last week it was stated that the Oregon
Short Line had purchased §10,000,000 preferred stock of the
Atchison Topeka & Santa Fe Ry. President Ripley of the
Atchison at Chicago on Jan. 8 testified that two years ago
E. H. Harriman and his associates got §30,000,000 of the
Santa Fe stock, or about one-seventh of the total, and had
caused the election of two directors to represent them,
H. C. Frick and H. H. Rogers.
There has been considerable speculation as to the manner
in which the company financed the purchase of the various
blocks of stock shown in our last issue. The “ New York
Times” of Jan. 7, for instance, says:
T h e to ta l c o s t o f th e $ 1 0 3 ,0 0 0 ,0 0 0 o f s to c k s a c q u ir e d b y th e U n ion
P a cific sin ce last Jun e is estim a te d t o h a v e a m o u n te d in ro u n d n u m bers
t o a b o u t $ 1 2 0 ,0 0 0 ,0 0 0 , as m o st o f th e s to c k s b o u g h t c o m m a n d e d c o n s id e r ­
ab le prem iu m s o v e r p ar. A d m it t e d ly , part o f tills m o n e y w as b o r r o w e d ;
h o w m u c h has n o t y e t b e e n b r o u g h t o u t. It a p p e a rs, h o w e v e r , fr o m t h e
last annual re p o rt th a t th e U n ion P a cllic h ad at its im m e d ia te c o m m a n d
en ou g h t o p a y fo r th e b u lk o f th is s to c k .
O n Ju n e 30 last t h e r o a d h a d
$ 21 ,000 ,00 0 In ca sh , $ 34 ,000 ,00 0 in d e m a n d loan s, a n d , in r o u n d n u m b e r s .
$7 5 ,0 0 0 ,0 0 0 w o rth o f G reat N orth ern an d N o rth e rn P a cific s to c k s , a to t a l
o f 5 1 3 0 ,0 0 0 ,0 0 0 . T h e d e m a n d lo a n s w e re , o f co u rs e , th e p r a c tic a l eq u iv a le n t
o f ca sh , an d a d m itte d ly a large p a rt o f th e U n io n P a cific ’ s h o ld in g s o f th e
H ill s to c k s h a ve sin ce th e c lo s e o f th e fiscal y e a r been c o n v e r t e d in to cash .
D e d u ctin g p o s s ib ly S 10 .00 0.00 0 cash k e p t in th e U n io n P a cific tr e a s u r y ,
a n d . s a y . $1 5 ,0 0 0 ,0 0 0 w o rth o f th e H ill s to c k s n o t y e t s o ld , th e U n ion
P a cific w o u ld h a v e h ad a t its co m m a n d fo r in v e s tm e n t p u rp oses sin ce
last Jun e u p w a rd o f $ 1 0 0 ,0 0 0 ,0 0 0 .

The “ Railroad Gazette” of this city in its issue of Jan. 11
gives extended extracts from the testimony taken at last
week’s hearing before the Inter-State Commerce Commis­
sion.— V. 84, p. 52.
United Railroads of San Francisco. -See United Rail­
ways Investment Co. below and California Street Cable RR.
above.— V. 83, p. 563.
United Railways Investment Co.— Recovery of San Fran­
cisco Street Railway Business.— President Thalmann says:
T h e ra p id r e s u m p tio n o f business In San F r a n cis c o Is r e fle c te d in t h e
earn in gs o f th e U n ite d R a ilr o a d s o f th a t c it y .
T h e g ro ss p a ssen ger r e ­
ce ip ts fo r D e ce m b e r w e re $55 6 ,0 0 0 In s p ite o f th e d e la y s a n d losses o c c a ­
sion ed b y th e fire a n d strik e. T h e gro ss re c e ip ts fo r 1906 w e re $ 5 ,9 4 1 ,0 0 0
— a loss o f o n ly a b o u t S I . 1 1 6 ,0 0 0 . c o m p a r e d w ith t h e y e a r 1905.
The
o ffic e r s an d d ir e cto r s o f t h e U n ite d R a ilro a d s a re c o n fid e n t th a t th e r e ­
b u ild in g o f S an F ra n cis co w ill g o fo rw a r d w ith c o n tin u e d v ig o r .
T h ey re­
p o r t th a t th e la b o r s itu a tio n is s te a d ily im p r o v in g a n d th a t th e c o m p a n y
n o w has n o d iffic u lt y in o b ta in in g all t h e la b o r n e ce s s a ry fo r t h e r e c o n ­
s t r u c tio n o f its o ld c a b le lin es, a n d several o f th e se h a v e b e e n c o m p le t e d ,
a n d th e en tire w o rk o f re c o n s tru ctio n w ill b e fin ish ed b y sp rin g .
The
d e liv e ry o f th e 250 n ew c a r s b e g in s th is w e e k , a n d w h e n th e y a re p la c e d
In s e rv ice th e U n ite d R a ilr o a d s s h o u ld b e ^as w ell e q u ip p e d as a n y street
r a ilro a d In A m e r ic a .
T h e n ew c o n s tr u c tio n has be e n o f th e h igh est o r d e r .
th e w e igh t o f t h e rails v a r y in g fr o m 103 t o 141 p o u n d s .
It Is c o n fid e n tly
b e lie v e d th a t th e e a rn in g s fo r 1907 w ill e x c e e d th o s e o f 1 90 5.— V . 83, p . 1472.

United Railways of St. Louis.— Bonds Guaranteed.— See
St. Louis & Suburban Ry. above.— V. 84, p. 52.
INDUSTRIAL, GAS AND MISCELLANEOUS.
Adventure Consolidated Copper Co., Michigan.— Assessment Called.— The second installment of 50 cents on account
of the §1 per share called in Jan. 1906, which was originally
payable July 16 last but deferred, is, it is announced, payable
Feb. 5 at the Old Colony Trust Co., Boston. Compare V. 82,
p. 162.
Alabama Consolidated Coal & Iron Co.— Report.— The
results for the year ending Oct. 31 were:
Y ea r—
G ross.
1905-06 ____$ 3 ,7 9 4 ,8 6 3
1 9 0 4 -0 5 ____ 3,5 5 5 ,6 4 4
— V . 8 4 , p . 52.

N et.
$49 2,36 7
559,461

Charges. P f . D ir . ( 7 % ) . B a l.,s u r .
$157,531
$ 87 ,500
$24 7,34 6
147 ,984
87,5 0 0
323 ,977

American De Forest W i r e l e s s Telegraph Co.— Holding
Com pany.— See United Wireless Telegraph Co. below.— V.
8 3 ,p . 211.
American Malt Corporation.— Listed.— The New York
Stock Exchange has listed $5,746,100 cumulative preferred

JAN. 12 190 7. j

stock and $3,118,100 common stock and has authorized the
listing from time to time prior to July 1 1907 of $3,206,700
additional preferred and $2,778,900 additional common stock,
on official notification that they have been issued in ex­
change for the stock of the American Malting Co.; also $47,200 additional preferred stock and $103,000 additional com­
mon stock, on official notification that they have been sold,
making total amount authorized to be listed $9,000,000 pre­
ferred and $6,000,000 common. Under the terms of the plan
there have been exchanged for the stock of the new corpora­
tion $13,473,100 of the $14,440,000 of the preferred stock of
the old American Malting Co. and $11,925,600 of the $13,400,000 of the common stock.— V. 83, p. 1172, 494.
American Smelting & Refining Co.— Favorable Tax Deci­
sion .— The United States Supreme Court on Jan. 7, by a
vote of 5 to 4, handed down a decision holding invalid the
so-called “ flat tax” law under which the State of Colorado
sought to impose upon foreign corporations doing business
in the State an annual tax of four cents per $1,000 capital
stock. The decision reversed the ruling of the State courts.
Chief Justice Fuller and Justices Harlan, Holmes and
Moody dissented, but did not file any opinion.
U nder th e earlier la w s, foreign c o r p o r a tio n s p aid a fee t o e n title th e m t o
d o business d u rin g th eir c o r p o r a te e x is te n ce w ith th e sam e p rivileges an d
restr'c-tions as d o m e s tic c o r p o r a t io n s . T h e C o u rt held this arran gem en t
w as in th e n a tu re o f a c o n t r a c t , w h ich w as im p a ire d b y th e n e w la w , as th e
la tte r d id not treat fore ig n c o r p o r a tio n s in th e sam e w a y as th o se in c o r ­
p o ra te d u n d er th e law s o f th e S ta te .— V . 8 3 , p . 1172.

American Strawboard Co,— Terms of Purchase of Uncas
Paper Co., cfee.— See United Box Board Co. below.— V. 84,
p. 52.
American Telephone & Telegraph Co.— Sale of X otes.—
J. P. Morgan & Co., Kuhn, Loeb & Co. and Kidder, Pea­
body & Co., of Boston, in conjunction with Baring Bros. &
Co. and J. S. Morgan & Co. of London, the bankers who
last year were associated in the purchase of this company’s
$100,000,000 convertible bonds, have purchased its issue of
$25,000,000 3-year 5 % coupon notes, dated Jan. 1 1907 and
due Jan. 1 1910; denomination $5,000, $10,000 and $25,000;
interest payable Julj- 1 and Jan. 1. The entire issue has
been resold. The proceeds will reimbur?e the company
for the cost of new construction and the purchase of addi­
tional stock in the subsidiary companies. The notes are
subject to call at 102 and interest on any interest day.
They are not secured by collateral.
Fourth Installment Called on Convertible Bonds.— The fourth
installment of 10% on account of the subscriptions to the
$100,000,000 convertible bonds of 1906 has been called,
leaving 60% due and payable by January 1908. (Compare
V. 83, p. 438.)— V. 83, p‘. 1413, 1292.
•
American Sugar Refining Co.— Annual M eeting.— At the
annual meeting on Wednesday, President H. O. Havemeyer
said in substance:
3| T h e a tte n tio n o f stock h o ld e rs w as u n d o u b te d ly d ra w n t o th e re b a te lit i­
g a tio n a gain st th e c o m p a n y .
W ith all resp ect t o th e C o u rt, its decisio
fa iled t o c o n v in c e th e b o a rd or Its cou n sel o f its c o rre ctn e s s . T h e C o u rt,
h o w e v e r , h a vin g ru led as lt d id . tlie b o a r d felt th a t it w as In th e interest o f
th e s to c k h o ld e r s t o settle o n th e basis o f pleas o f g u ilty and pen a lties o f the
to ta l a m o u n t o f 515 0 ,0 0 0 a d d itio n a l t o $18 ,000 im p o se d b y th e C ou rt in
th e case th a t w a s tried .
W e h a v e 13,003 sto c k h o ld e r s, an d lt ca n re a d ily
b e seen th a t th e Interest o f n o in d iv id u a l is larg e.
It Is th e s to c k h o ld e r s
w h o are hurt b y su ch p r o ce e d in g s .
T h e o ffic e r s w ill c o n tin u e t o d o w h a t
th e y can t o p reven t in th e fu tu re a n y cla im th a t th e c o m p a n y do e s n o t c o m ­
p ly w ith th e In te r-S ta te C o m m e rce A c t .
A receiver o f th e P e n n s y lv a n ia S ugar R e fin in g C o ., o n e o f th e sch e m e s o f
A d o lp h Segal (see that c o m p a n y b e l o w ) , th reaten s p ro ce e d in g s again st th e
co m p a n y in w h ich he cla im s large su m s o f m o n e y fo r a lle g e d v io la tio n s o f
th e la w .
I a m a d v ise d th a t th e re is n o le g a l fo u n d a tio n fo r a n y su ch p r o ­
ceed in gs.
•KOf th e 900 ,0 0 0 shares o u ts ta n d in g o f p re fe rre d an d c o m m o n s t o c k , th e
holders o f 547 ,699 shares h a ve sent p r o x ie s fo r th e business o f tills m e e tin g .
T h e b oa rd a cce p ts this as e v id e n c e o f co n iid e n ce b y th e s to ck h o ld e rs in th e
a d m in istra tio n .— V 83, p . 1038.

American Tobacco Co .-—Merger Sustained.— Vice-Chan­
cellor Pitney at Newark has dismissed the bill filed by George
A. Beling of Bayonne, who owned 100 shares of the preferred
stock of the old American Tobacco Co., and also one filed
by Richard T. Dana of New York, praying that the merger
of the various companies in 1904 be set aside and their origi­
nal securities be restored to them.
T h e d ecision s are b a se d ch ie fly on th e d e la y o f th e c o m p la in a n ts in b r in g ­
ing th e a c t io n , th e In ju ry w h ic h w o u ld be d o n e t o n u m erou s in n o ce n t s t o c k ­
h olders c on s en tin g t o th e m e rg e r, an d th e “ wTell-n ig h im p o s sib le ta sk o f re ­
v iv ify in g th e o ld c o m p a n ie s w h o s e e x is te n ce w as en d ed b y th e m erger
a g r e e m e n t .”
T h e C ou rt sa y s th a t $ 1 3 ,8 0 8 ,5 0 0 o f th e $14,000*000 p referred
s to c k o f th e orig in a l A m e r ic a n T o b a c c o C o. has be e n e x c h a n g e d fo r th e new
secu rities a n d th a t all o th e r se cu ritie s o f th e o ld c o m p a n ie s in v o lv e d in th e
plan h a ve been e x c h a n g e d in sim ila r p ro p o r tio n s ; a ls o " t h a t th e n ew b o n d s
a n d n e w preferred s t o c k o f th e m e rg e d c o m p a n y h a v e b e e n p u t u p o n th e
general secu rity m ark ets and dealt in t o a large e x t e n t , all b e fo re a n y n o tice
t o th e d e fen d a n ts o r p u b lic o f t h e cla im n o w m a d e .” — V . 8 3 , p . 1172, 274 .

Bennington (Vt.) Gas Co.— Application for Receiver.— An
application was made for the appointment of a receiver on
Jan. 4 to Judge A. A. Hall of the County Court at Benning­
ton by J. C. Colgate of Now York, who hoidsanotefor$15,000
on which payment has not been met-. A. K . Richie, Treasurer of the company, it was thought, would be named.
T h e c o m p a n y , it is r e p o r te d , w as In co rp o ra te d a b o u t t w o y e a rs a g o , its
c a p ita l s to c k b ein g $ 1 7 5,00 0 an d b o n d e d d e b t $ 4 0 ,0 0 0 .
F lo a t in g d e b t is
s ta te d t o b e a b ou t $ 1 7 5 ,0 0 0 , E . K . D u n b a r o f B o sto n b e in g th e la rg e st
s to c k h o ld e r .

Cananea Central Copper Co.— Second Call on Stock.— The
final installment of $5 a share has been called, payable Feb. 1
1907 on the 400,000 shares of outstanding stock which are
not full paid. Par $10.
T h e p roceed s , lt Is u n d e rs to o d , w ill b e used t o p a y th e r e m a in d e r d u e o n
th e p u rch a se o f th e p r o p e r t y . T h e a u th o rize d share ca p ita l Is $10 ,0 0 0 ,0 0 0 ,
o f w h ich th e '$ 0 ,0 0 0 ,0 0 0 o u tsta n d in g w ill n o w b e full p a id , $ 2 ,0 0 0 ,0 0 0 o f
full p a id shares h a vin g b e e n tu rn e d o v e r , at o r g a n iz a tio n , t o th e G reen e
C on solid a ted C op p er C o. an d sin ce sold b y It fo r S 4.0 0 0 .0 0 0 t o a sy n d ic a te
said t o Inclu de T lios. F . C ole, J o h n D . R y a n , C. H . D o d g e an d o th e r s .—
C om p a re V . 83, p. 1526, 325.




105

THE CHRONICLE.

Central Leather Co.— Suit.— James C. Colgate and other
holders of the preferred stock of the United States Leather Co.,
to an aggregate amount of $2,300,000, who have not ex­
changed their stock for that of the securities of the Central
Leather Co. under the plan (V. 79, p. 2751), have filed suit
in the Chancery Court at Trenton to enjoin the proposed
merger of the two companies. Vice-Chancellor Emery
issued an order to show cause, returnable Jan. 14, why a
permanent injunction should not be issued. The complaint
recites that $4,764,300 of the $62,282,300 preferred stock
and $1,399,500 of the $62,882,300 common stock of the
United States Leather Co. have not consented to the plan
and remain outstanding in the hands of individual holders.
Another suit for the same purpose has been brought bjr
Robert A. Johnston and Jesse Tallmadge, the latter of
Wisconsin, who together own $211,400 of United States
Leather preferred stock.— V. 83, p. 1592.
City of Chicago Brewing & Malting Co.— Report.— This
English corporation has received no dividends from its
American subsidiary since the year 1903 and has made no
distributions to the English shareholders, its income account
showing a deficit for the year 1905-06 of £2,656, as against
£2,335 in 1904-05. The income account of the American
company for the fiscal years ending Sept. 30 1906 and 1905
follow:
F is c a l
G ross
D ep recia tio n , In t. on
S in k ’g
B a la n ce,
year—
pro fits.
salaries, & c. bonds.
fu n d .
s u r .o r d c f .
$23 7 ,2 3 4
$14 9 ,9 5 4
$63 ,320 sur $ 11 ,770
1905-0G ______ $4 6 2,28 4
1 904-05 _______ 4 3 9 ,6 4 3
2 3 2 ,0 7 6
1 50 ,935
03,320 d e f
0,088
T h e n e t q u ic k assets o f th e A m e r ic a n c o m p a n y on S ep t. 30 1900 a g g r e ­
g a t e d S I , 1 6 9 ,3 8 8 , a g ain st $1,1 1 2 ,2 0 7 S ep t. 30 1905. Sales o f beer in
19 0 5 -0 6 a g g r e g a te d $37 2,57 3 b a rre ls , a g ain st $S64r373 in 19 0 4 -0 5 .— V . 82,
p . 103.

Claflin (H. B .) C o.— Report. — The results for the half-year
and year ending Dec. 31 were:
N et
6 m onths.
E a rn in g s.
1 9 0 6 -------------------------------------$40 9 ,1 1 8
1 90 5
5 03 ,493
Y ea r—
190 6
$70 1 ,3 7 6
1 9 0 5 ------------------------------------- 8 21 ,427
— V . 8 3 , p . 99.

P referred
D ivid en d s.
$ 1 4 2,12 0
1 42 ,126

C om m on
D ivid en d s.
$ 1 5 3,10 3
153,104

B a la n ce,
S u rp lu s.
$11 3,82 9
2 08 ,204

$ 2 8 4,25 2
2 84 ,252

$30 6 ,3 2 8
3 0 0 ,3 2 8

$17 0 ,7 9 6
2 30 ,847

Computing Scale Co of American Jersey City.— Reduc­
tion of Capital Stock.— This company announces by adver­
tisement the reduction of its stock from $3,500,000, consist­
ing of $1,500,000 preferred and $2,000,000 common, to
$1,500,000, all of one class; par of shares (unchanged), $100.
F or e a ch share o f preferred s to c k th ere Is g iv e n $80 o f th e n e w s to c k a n d
fo r e a ch share o f c o m m o n s to ck $15 o f th e new s to c k .
O f th e shares v o t e d
in fa v o r o f th e d e cre a se , 9,741 M shares o f p referred a n d 1 1 ,9 9 4 X shares o f
c o m m o n w ere cast b y W e n d e ll I 1. R ic e , S. M . H a stin g s, E d w a rd C a n b y a n d
E d w a rd C orn ell as v o t in g tru stees.
E d w a rd C a n b y is P resid en t a n d O . O .
O zias is S e cre ta ry .— V . 7 7 , p . 453.

Cumberland (Bell) Telephone & Telegraph Co.— New
Stock.—-The shareholders of record January 15 will
be permitted to subscribe at par for $3,300,000 additional
capital stock in amounts equal to 20% of their respective
holdings, the subscription to be paj^able in four installments
on Feb. 1, April 1, July 1 and Oct. 1.— V. 82, p. 1376.
Denver (Colo.) Gas & Electric Co.— Bonds Offered— Earn­
ings.— E. H. Rollins & Sons, Chicago, Boston, Denver and
San Francisco, who are offering $100,000 general mortgage
5s at 95 and interest, report:
E a rn in g s fo r Years E n d in g Oct. 1.
Y ea r—
G ross.
N et.
Charges.
1905-00
.$ 1 ,6 6 1 ,0 1 4
$ 6 7 0 ,4 1 5
$ 3 0 3,47 5
1904-05
___________ 1,4 3 2 ,3 5 5
5 8 3 ,1 2 9
361 ,782
— V . 8 3 , p . 1 5 2 0 ,1 4 1 4 .

Su rp lu s.
$30 6,94 0
221,347

Greene-Cananea Copper Co.— See Cananea Central Copper
Co. above.— V. 84, p. 53.
Harrison Bros. & Co., Philadelphia.— Report.— The re­
sults for fiscal years ending Oct. 31 1906 and 1905 compare:
Y ea r—
G ross.
1 9 0 5 -0 6
------------. .$ 4 5 8 ,0 5 4
1 9 0 4 -0 5 ............... ..................... ..
4 08 ,097
— V. 8 2 . p. 221.

N et.
$ 1 0 0 ,8 5 8
1 24 ,014

Interest.
$ 0 5 ,0 0 0
65,000

B a l .,S u r .
$35 ,858
59,014

Herkimer County (N. Y .) Light & Power Co.— Sale.— See
Utica Gas & Electric Co. below.— V. 73, p. 724; V. 71,
p. 1272; V. 66, p. 1189, 810.
Indianapolis, Ind., Light & Heat Co.— Called Bonds.—
Eight first mortgage bonds, dated 1892, of the constituent
Indianapolis Light & Power Co., viz., Nos. 31, 136, 196,
212, 241, 263, 309, 315, have been called for payment at
104 and interest on Jan. 19 at the American Loan & Trust
Co. of Boston.— V. 80, p. 475.
Inland Steel Co., Chicago.— Bond Offering.— Further Par­
ticulars.— As recently announced, Sidney C. Love & Co.,
New York and Chicago, are placing this company’s $2,500,000 first mortgage 5 % gold bonds (interest payable Oct. 1
and April 1) at 97^4 and interest. Compare V. 83, p. 1526.
L etter from C h airm an A le x is W . T h om p son , C h icago, III., N o v . 2 1906.
R e fe rrin g t o y o u r p u rch a s e o f $2,5 0 0 ,0 0 0 lirst m o r tg a g e 5 % b o n d s , I b eg
t o a d v is e as fo llo w s : T h e b o n d s are d a te d O ct. 1 1900; d u e O ct. 1 1920.
T h e to ta l a u th o riz e d issue Is $ 2 ,5 0 0 ,0 0 0 , se cu re d b y m o r tg a g e o n all ore
p r o p e r t ie s , p la n ts , e q u ip m e n ts , & c ., n o w o w n e d o r h e re a fte r a c q u ir e d .
T h e m o r tg a g e p r o v id e s th a t th e net cash an d q u ic k assets o f th e c o m p a n y ,
o v e r an d a b o v e lia b ilitie s , o th e r th a n th e b o n d s o u ts ta n d in g , shall n o t be
less th a n $ 1 ,5 0 0 ,0 0 0 , u ntil th e Issue is r e d u ce d t o $ 1 ,5 0 0 ,0 0 0 , an d th erea fter
n e v e r less than th e a m o u n t o f th e issu e o u ts ta n d in g .
T h e m o r tg a g e p r o ­
v id e s th a t o n O ct. 1 1907, an d a n n u a lly th e re a fte r, th e c o m p a n y w ill turn
o v e r t o th e tru stee $10 0,00 0 in cash o r b o n d s o f this Issue fo r ca n c e lla tio n ,
w h ic h shall co n s titu te a sin k in g fu n d fo r th e r e d e m p tio n o f th e b o n d s. On
O c t . 1 1907 and on a n y in terest d a y th e r e a fte r , th e b o n d s are r e d eem a b le
fo r sin kin g fu n d p u rp o se s at 105 an d In terest, an d on O ct. 1 1911 an d on a n y
in te re st d a y th e re a fte r m a y all be r e d e e m e d a t o p t io n o f c o m p a n y at sam e
p r ice .
T h e m o r tg a g e p r o v id e s th a t th e p r o c e e d s o f $ 2 ,0 0 0 ,0 0 0 p a r v a lu e o f these
b o n d s shall b e e x p e n d e d o n ly to p a y fo r p e rm a n e n t Im p r o v e m e n ts an d a d d i­
tio n s th e c o n s tr u c tio n o f w h ich w as begu n a b o u t Ju n e 15 1900.

106

THE CHRONICLE.

T h e v a lu e o f th e p r in c ip a l p r o p e r t ie s b y w h ic h th ese b o n d s are se c u r e d ,
I.'estim ate as fo llo w s : In d ia n a H a r b o r a n d C h ic a g o H e ig h ts p la n ts , $ 2 ,9 0 0 ,000 ; ore a n d c o a l, $ 2 ,5 0 0 ,0 0 0 ; a d d itio n s a t In d ia n a H a r b o r , c o n sistin g o f
b la s t fu r n a c e , ore d o c k , & c ., $ 2 ,0 0 0 ,0 0 0 ; t o t a l, $ 7 ,4 0 0 ,0 0 0 .
T h e q u ic k
assets O c t . 31 1906 are as fo llo w s : C ash, $33 7 ,7 4 2 ; bills r e c e iv a b le , $10 ,8 0 5 ;
a c c o u n t s r e c e iv a b le , $ 8 6 5 ,1 6 9 ; in v e n t o r y a t c o s t , $ 6 2 8 ,5 1 8 ; a d v a n c e d fo r
n ew c o n s tr u c tio n , re im b u rs e m e n t fo r w h ich is t o b e m a d e o iit o f th e p r o ­
ce e d s o f this b o n d issu e , $ 3 3 8 ,5 2 4 ; t o t a l, $ 2 ,1 8 0 ,7 5 8 ;
D e d u c t : B ills a n d
a c c o u n ts p a y a b le , $55 8 ,0 1 6 ; n e t q u ic k assets, $ 1 ,6 2 2 ,7 4 2 .
F o r th e y e a r en d in g Ju n e 30 1906 th e n e t p ro fits w e re $ 8 6 0 ,7 6 6 .
T h e net
earnings sin ce J u ly 1 1906 are a t th e ra te o f o v e r $ 1 ,0 0 0 ,0 0 0 p e r a n n u m .
T h e se earnings are t h e resu lt o f th e o p e ra tio n s o f t h e I n d ia n a H a r b o r an d
C h ica g o H eig h ts p la n ts , as n o ben efits h a v e as y e t b e e n d e riv e d fro m th e
o r e p r o p e r t y , w h ich w as o n ly r e c e n tly a c q u ir e d .
F r o m th e a d v a n ta g e s th e
c o m p a n y w ill secu re b y m in in g its o w n o re a n d p r o d u c in g its r e q u ire m e n t
o f p ig iro n , c o m b in e d w ith th e ben efits t o b e d e r iv e d fro m th e a d d itio n a l
p e r m a n e n t im p ro v e m e n ts th a t are b e in g m a d e , t h e e a rn in gs s h o u ld be
in c re a s e d .— V . 8 3 , p . 152 6, 159 3.
. . .
•
M

International Harvester Co.— Classification of Stock.—
This company has filed in New Jersey a certificate classifying
its capital stock of $120,000,000 into $60,000,000 7 % cumu­
lative preferred and $60,000,000 common. Stockholders
will be entitled to receive one share of new preferred stock
and one share of new common for every two shares of old stock,
under terms of a circular shortly to be issued.— V. 83, p .1232.
Lehigh Coal & Navigation Co.— Listed in Philadelphia.—
The Philadelphia Stock Exchange has listed $682,000 addi­
tional funding and improvement mortgage 4 % bonds, mak­
ing the total amount listed $4,246,000.— V. 83, p. 1527.
Manistee (Mich.) Gas & Electric Co.— Successor.— See
North Western Michigan Light & Power Co. below.
Marconi Wireless Telegraph Co. of America.— Offer of E x­
change.— See United Wireless Telegraph Co. below.— V. 83,
p. 211.
Marconi Wireless Telegraph Co. of Canada.— Offer to Stock­
holders.— See United Wireless Telegraph Co. below.— V. 81,
p. 562.
Massachusetts Gas Companies, Boston, Mass.— Sale of
Real Estate by Subsidiary— Payment of Floating Debt.— The
“ Boston News Bureau” of Jan. 4 said:
T h e B o sto n C o n s o lid a te d Gas C o ., th r o u g h th e re ce ip t o f a b o u t $ 1 ,0 0 0 ,0 0 0
fro m th e N ew Y o r k N ew H a v e n & H a r tfo r d this w e e k , c le a n s up its large
flo a tin g d e b t , w h ich has be e n cre a te d b y e x te n s iv e im p ro v e m e n ts m a d e t o
its p r o p e r t y in th e p ast 18 m o n th s .
F r o m th e sales o f la n d in th e p ast fe w
m o n th s th e B o s to n C o n so lid a te d has r e c e iv e d a b o u t $ 1 ,0 5 3 ,0 6 9 .
The de­
c is io n o f th e N ew Y o r k N ew H a v e n & H a rtfo rd R R . t o use th e p r o p e r ty
p u rch a sed b y it fo r a stea m sh ip te rm in a l has a d d e d c o n s id e r a b ly t o th e v a lu e
o f th e N o rth E n d p r o p e r t y . T h e B o s to n C o n so lid a te d G as C o. has o th e r
v e r y v a lu a b le p a rcels o f la n d w h ich w ill s h o r t ly be p la c e d o n th e m a r k e t.—
V . 8 3 , p . 1 2 9 3 ,9 6 7 .

Monongahela River Consolidated Coal & Coke Co.— A n ­
nual Dividend.— The directors have declared a dividend of
$2 25 a share (4.5% ) on the $10,000,000 preferred stock,
payable Jan. 25 to stockholders of record Jan. 19 out of the
earnings of the fiscal year ending Oct. 31 1906. These earn­
ings, it is reported, are slightly more than $450,000 required
to pay the dividend, against $194,476 in 1904-05. Last
year 1.94% was paid and in the year preceding 1.54% ,
dividends having previously been paid at the rate of 7% per
annum from July 1900 to Jan. 1904 inclusive. The Pitts­
burgh Coal Co. owns $2,500,000 of the preferred shares.—
V. 82, p . 158,164.
National Steel & Wire Co.— Receivership.— This Maine
corporation was last week placed in the hands of Gifford G.
McLaugflin of Maine and Homer Wise as temporary receivres by the Maine courts. Mr. Wise and Harold Nathan have
since been appointed ancillary receivers in New York State.
An attachment against the company for $6,135,000 on an
assigned claim last summer for freight charges was served
Dec. 27 on a bank in this city. On Jan. 7 Frederick B. Farns­
worth and H . Stuart Hotchkiss, both of New Haven, were
appointed receivers for the National Steel Foundry Co., one
of the subsidiary corporations. The National Wire Cor­
poration, another of the subsidiaries, was placed in the hands
of the same men as receivers on Dec. 19, and their appoint­
ment has since been made permanent. The receiverships,
it is expected, will be followed by a general reorganization
and possibly also consolidation, in accordance with the plan
which was promulgated a few weeks ago.
Among the creditors of the Nat. Wire Corp. are said to be
the Federal Trust Co., Boston, $470,000; Manhattan Com­
pany, New York, $250;000; Henry Hastings, agent for steam­
ship lines in Boston, $250,000; Pennsylvania Steel Co.,
$75,000; National Steel & Wire Co., $1,900,000, and Knick­
erbocker Trust Co., New York, $150,000. Compare V. 83,
p. 1346, 1350.
North Western Michigan Light & Power Co., Manistee,
Mich.— BondsOffered.— E. H. Gay & Co., Boston, New York,
Philadelphia and Montreal, are offering at 95 and interest
$100,000 first mortgage 5 % gold bonds dated July 2 1906
and due July 1 1926. Authorized issue $500,000, outstand­
ing, $150,000; remaining bonds issuable only at a rate not
exceeding at par 8 0 % of the certified cost of extensions, addi­
tions and improvements. The company is successor to the
Manistee Gas & Electric Co. and is under the management of
Edward M. Deane & Co. of Grand Rapids, Mich. Further
facts another week.
Metropolitan Sugar Refining Co.— Bond Sale.— A t auction
in Philadelphia on Dec. 19 a $1,000 5% bond, due in 1934,
was sold at 5 5 % . The company was promoted hy Adolph
Segal, of Philadelphia. See Pennsylvania Sugar Refining
Co. below and V. 83, p. 821, 497; V. 78, p. 991, 1226.
Michigan Lake Superior Power Co.— Interest Deferred.—
By an agreement with the bondholders as of Oct. 1 1905 the
payment of all outstanding coupons, until and including the




[Y o l . LXXX1V.

coupon of Nov. 1 1907, has been deferred until the net in­
come of the company is sufficient for the purpose, after the
payment of coupon of May 1 1908.— V. 83, p. 1102, 382.
Oregon Securities Co.— Receivership.— Judge Wolverton
in the United States District Court at Portland, Ore., on
Jan. 3 appointed General Manager A . B. Wood receiver of
the company in the suit of the Trust Company of America
of New York, as trustee, to foreclose a mortgage for$400,000.
Panama Canal.— Purchase from French Company Hedl
Valid.— The United States Supreme Court on Monday,
Judge Brewer writing the opinion, in the action brought
by Warren B. Wilson of Chicago, sustained the act of Secre­
tary of the Treasury Shaw in paying the New Panama Canal
Co. of France for the canal rights, as directed by the Act of
Congress of 1902. The Court says the Government has do­
minion and control over the Canal Zone and Congress there­
fore had authority to appropriate money to build the canal.
Compare V. 78, p. 1553.— V. 83, p. 41.
Pennsylvania Sugar Refining Co., Philadelphia.— Suits.—
Geo. H. Earle Jr., who was appointed receiver of this com­
pany last October in connection with the reorganization of
the Real Estate Trust Co. of Philadelphia, has brought a suit
to foreclose the mortgage of $3,000,000, and has obtained
permission from the Court to bring suit for damages against
the American Sugar Refining Co., on the ground that it ob­
tained control of the enterprise and prevented the operation
of the plant for the purpose of forestalling competition.
T h e c a p ita l s to c k , $ 5 ,0 0 0 ,0 0 0 , w as p la c e d in a fiv e -y e a r v o t in g tru s t in
1903 w ith F ra n k K . H ipp ie as a v o t in g tru stee. S u b s e q u e n tly , it is a lle g e d ,
A d o lp h S e g a l, in ord e r t o o b ta in a lo a n , p la c e d 5 1 % o f th e v o t in g tru st c e r ­
tifica te s an d $500,000 o f th e b o n d s in th e han ds o f G u s ta v E . K issel o f N ew
Y o r k , w h o , it is c la im e d , a c tin g in th e in terest o f t h e A m e r ic a n S u g a r R e fin ­
ing C o . , cau sed h im self a n d asso cia te s t o be e le c te d t o th e b o a r d o f th e P e n n ­
s y lv a n ia C o m p a n y , o f w h ich th e y fo rm e d a m a jo r it y , a n d th e re u p o n v o te d
t o k e e p th e refin ery c lo s e d , s o t h a t , th o u g h fu lly e q u ip p e d , it has n e v er been
o p e n e d .— V . 8 3 , p . 821 , 497.

Philadelphia Company of Pittsburgh.— Listed in Phila­
delphia.— The Philadelphia Stock Exchange has fisted
$510,000 additional common stock, making the total amount
listed $33,240,000.— V. 83, p. 752.
Pittsburgh (Pa.) Plate Glass Co.— M erger.— A circular
sent to the shareholders says:
T h e C h a th a m M a n u fa ctu rin g C o. w as o rg a n iz e d in 1903 a t th e in sta n ce o f
y o u r d ir e cto r s t o b e a v a ila b le fo r c o n s o lid a tio n , w h e n e v e r it sh o u ld b e
d e e m e d de sira b le t o en large th e ch a rte re d rig h ts o f t h e P itts b u r g h P la te
G lass C o .
Y o u r b o a r d has u n a n im o u s ly a u th o r iz e d th e c o n s o lid a tio n a n d
n o w r e c o m m e n d its ra tific a tio n b y th e s to c k h o ld e r s.
A ll ben efits o f th e
co n s o lid a tio n w ill in u re s o le ly t o th e P itts b u r g h P la te G lass C o .— V . 8 3 ,
p . 269.

Revere Rubber Co., Boston.— New Stock to Capitalize Sur­
plus.— The shareholders at the annual meeting on Jan. 16
will act on a proposition to increase the capital stock from
$1,500,000 to $2,000,000 by the capitalization of $500,000
of the surplus.
Sears, Roebuck & Co., Chicago.— Sales.— For calendar
years:
1906.
Jan . 1 t o Ju n e 3 0 ..................$2 4 ,5 2 5 ,1 9 7
J u ly 1 t o D e c. 3 1 ............. ..
2 7 ,3 4 1 ,6 7 7

1905.
$ 1 7 ,3 0 9 ,6 2 8
2 1 ,3 9 8 ,9 0 0

----------I n c r e a s e ----------$ 7 ,2 1 5 ,5 6 9
4 1 .6 8 %
5 ,9 4 2 ,7 7 7
2 7 .7 6 %

T o t a l, y e a r ......................... $ 5 1 ,8 6 6 ,8 7 4
— V . 8 3 , p . 1475.

$ 3 8 ,7 0 8 ,5 2 8 $ 1 3 ,1 5 8 ,3 4 6

3 3 .9 9 %

South Bend & Mishawaka Gas Co.— Change in Control.—
Practically the entire $1,000,000 stock was recently pur­
chased by the United Gas Improvement Co., which now
operates the plant.
Bonds Offered.— Cramp, Mitchell & Shober, 314 Chestnut
Street, Philadelphia, are offering at a price to return about
5.1% per annum, a block of the consolidated mortgage gold
5s due Jan. 1 1926, subject to redemption at 1 0 2 ^ and in­
terest on or after Jan. 1 1908. Outstanding, $640,000; re­
served to retire first mortgage bonds due 1920, $500,000;
reserved for future construction, $860,000. Total author­
ized issue, $2,000,000. A circular says:
N et earnings fo r 12 m o n th s e n d e d O c t . 31 190 6, $95 ,7 2 6 ; Interest o n $50 0 ,000 first m o r tg a g e , $25 ,000 ; in te re s t o n $ 6 4 0,00 0 c o n s o ls, $32 ,0 0 0 ; su rplu s
fo r s t o c k , $38 ,7 2 6 . T h e gas p la n t has r e c e n t ly be e n e n la rg e d a n d Im p r o v e d .
T h e c o m p a n y , h o w e v e r , d id n o t h a v e th e be n e fit o f th ese Im p ro v e m e n ts
e x c e p tin g fo r th e last 6 m o n th s o f th e p e rio d o f earn in gs r e p o r te d a b o v e .
F o r th is rea son , a n d b e ca u se th e c o m p a n y Is n o w o w n e d an d o p e r a te d b y
th e U n ite d Gas Im p r o v e m e n t C o .. w e e x p e c t th a t th e e a rn in g s w ill sh o w
larg e increases in th e fu tu re . See fu rth e r fa c ts in V . 8 3 , p . 498 .

Southern Steel Co.— Description of Plant.— The “ Iron
Trade Review” of Cleveland in its issue of Jan. 3 contains an
illustrated article regarding this company’s Cleveland fur­
nace.— V. 83, p. 973, 564.
Standard Cordage Co.— Annual M eeting— New Directors.—
At the annual meeting on Tuesday D. S. Ramsay and James
G. Hurty were elected directors to succeed E. P. Genung and
L. A . DeKemey. No financial statement was submitted.—
V. 83, p. 442, 42.
Standard Screw Co.— Earnings.— The net profits applica­
ble to dividends on the preferred and common stock for the
seven (not eight) months ending Oct. 31 were $348,229, com­
paring with $407,201 for the year ending March 31 last.
From this, $67,000 was expended in extensions and improve­
ments, and on Jan. 1 1907 the regular semi-annual dividends
were paid, namely, 3 % on the $2,000,000 preferred and
2 /^ % on the $2,500,000 common stock.— V. 80, p. 1486.
Sunday Creek Company.— Offering of Coal Bonds of A lly o
Hocking Valley R y .— F. J. Lisman & Co., 30 Broad St., New
York, with branch offices at Chicago, Philadelphia and
Hartford, are offering by advertisement on another page a
block of the 5 % collateral trust sinking fund bonds of this

JAN. 12 1907.1

THE CHRONICLE.

company “ all of whose stock is supposed to be owned by or
in the interest of the Hocking Valley R y .,” which in turn is
controlled by the Pennsylvania, New York Central, Erie
and the Chesapeake & Ohio. The bonds are 5 % , due July
1 1944 and are drawn annually at par and interest for the
sinking fund. The company, whose property securities
and financial status was fully set forth in the statement of
the New York Stock Exchange, which was published in the
“ Chronicle” last summer (V. 83, p. 160), upon the listing of
this issue of bonds, took over on July 1 1905 all the assets of
the Sunday Creek Coal Co. and at the same time acquired
substantially all the stock of the Kanawha & Hocking Coal
& Coke Co. and of the Continental Coal Co. This stock,
aggregating 86,500,000, is pledged as security for the mort­
gage and was paid for at the rate of 60% in these 5 % sinking
fund bonds— issue limited to $3,900,000. The company
also leases the property of the Buckeye Coal & Railway Co.
and the Ohio Land & Railway Co., controlled by the Hock­
ing Valley Ry. The bonds are, on an estimated average
maturity of 2 5 ^ years, offered on a basis to yield the
investor 7 % .
Statem ent o f A s s e ts J u ly 1 1905 m ade by P resid en t J ohn H . W in d er O ct. 29 '06.
S u rfa ce C oal R ights C oa l L a n d s
P erson al
Total
F e e O wned. ( I n F e e ) .
L eased .
P r o p e r ty .
V a lu e.
B u ck e y e G oal &
K y. A c r e s - 11,122
11,572
2,501
E st. c o a l,t o n s ----------2 0 ,8 6 8 ,4 5 0
3 ,4 6 9 ,4 0 0
V a lu ed a t - . . $16 6,83 0
$ 1 ,6 6 9 ,4 7 6
$86 ,735 a $ 2 2 4 ,7 7 5
$ 2 ,1 4 7 ,8 1 6
O h io L a n d & R y .—
A c r e s ----------11,178
11,178
. ............. E st. c o a l,t o n s _______
5 7 ,4 9 6 ,1 9 5
__________
V a lu e d a t ___$16 7,67 0
$ 4 ,5 9 9 ,6 9 6
__________ See B u ck e y e $ 4 ,7 6 7 ,3 6 6
S u n .C reek C oa l—
A c r e s _______
6,227
17,461
607
E st. c o a l,t o n s _______
5 5 ,7 0 5 ,1 7 0
1,0 4 6 ,6 5 0
. V a lu e d a t ___
$9,341
$ 4 ,4 5 6 ,4 1 4
$26,1 6 6 6 $ 3 67,2 55
4 ,8 5 9 ,1 7 5
C on t. C oal C o .—
A c r e s _______
803
795
25,293
E st. c o a l,t o n s .............
2 ,3 3 2 ,0 0 0 1 2 0 ,668 ,62 5
V a lu ed a t - _ _ $12 ,045
$ 1 8 6,56 0
$ 3 ,0 1 6 ,7 1 6 C $698,343
3 ,9 1 3 ,6 6 4
K . & H .C . & C .C o .—
A c r e s _______
21,279
21,279
10,901
E st. c o a l,t o n s _______ 2 1 2 ,7 9 0 ,0 0 0 10 9 ,0 1 0 ,0 0 0
V a lu e d a t - . - $ 3 1 9 , 185 $ 1 7 ,0 2 3 ,2 0 0
$ 2 ,7 2 5 ,2 5 0 d$ 6 3 0 ,6 3 7 $ 2 0 ,6 9 8 ,2 7 2
T o t a l a c r e s ..
5 0 ,609
62,285
39,302
T o t a l c o a l . . . _______ 3 4 9 ,1 9 1 ,8 1 5 2 3 4 ,1 9 4 ,6 7 5
T o t a l v a lu e .$ 6 7 5 ,0 7 1 $ 2 7 ,9 3 5 ,3 4 6
$ 5 ,8 5 4 ,8 6 7 $ 1 ,9 2 1 ,0 1 0 $ 3 6 ,3 8 6 ,2 9 3
N o te .— S u rface la n d Is here ta k e n a t $15 p er a c r e .
C oal o w n e d a t 8
cen ts p er t o n a n d c o a l leased a t 2 Yt ce n ts p er t o n . T h e p erson al p r o p e r ty
Is th e In v en tory o f J u ly 1 1905. T h e t o t a ls , o th e r th a n th a t o f v a lu a tio n s ,
h a v e b een su p p lie d In th e a b o v e ta b le , s in ce n o t a p p e a r in g In th e b a n k e r s ’
c ir c u la r .— Ed.
a In clu d es p erson a l p r o p e r t y o n O h io L a n d & R y . b In clu d e s C on n ors
P o in t d o c k ,
c In clu d es A th e n s A m e r v llle & C h a u n ce y R y .
d In clu d e s
K e lly ’s C reek R y .

The underlying bonds of the company aggregate $5,488,000, viz., Sunday Creek Coal Co. $318,000 1st 6s, 1912,
$2,300,000 Continental Coal 1st 5s, 1951 and $2,870,000
Kanawha & Hocking Coal & Coke 1st 5s, 1951.— V. 83, p.
160,162.
Swift & Co., Packers, Chicago.— Report.— See “ Annual
Reports” on a preceding page.
New Directors.— At the annual meeting, Charles H. Swift
and D. M. Anthony were elected directors to succeed the late
E. C. Swift and M. E. Hollis.— V. 84, p. 54.
United Box Board & Paper Co.— Time Extended.— The
time in which stockholders may subscribe to the stock of the
American Box Board Co., per terms in V. 83, p. 1540,' has
been extended until and including Jan. 22, and the time for
making the first payment upon subscriptions will be extended
until Jan. 25. Subscriptions should be addressed to the
American Box Board Co., 15 Exchange Place, Jersey City.
Official Circular.— “ In view of erroneous and imperfect
statements made by a so-called ‘protective committee of
stockholders,’ ” the board of directors, in a circular dated
Jan. 5, say in substance:
Y o u r c o m p a n y Is c o n fr o n te d w ith th e n e c e s s ity o f m e e tin g Its flo a tin g
in d eb ted n ess o f som e $ 8 5 0 ,0 0 0 , w h ich fo r a lo n g tim e past has be e n c a rrie d
on th e p erson al •credit o f c e r ta in o f its d ir e cto r s , b u t c a n n o t th u s be p e rm a ­
n e n t ly ca r r ic d . T o m e e t th a t In d e b te d n e ss, th e d ire cto rs d e c id e d u p on th e
sale t o th e A m e r ic a n B o x B o a rd C o. o f c e r ta in assets fo r $85 0 ,0 0 0 ; besides
th e a ss u m p tion b y th e p u rch a se r o f th e co lla te ra l trust b o n d s , as e x p la in e d .
In th e circu la r o f D ec. 20 1906 (V . 8 3 , p . 154 0 ). S h o u ld y o u r c o m p a n y d e ­
sire t o re-p u rch a se th e p r o p e r t y s o ld , th e p riv ile g e o f so d o in g w ith in on e
y e a r Is reserv ed t o it.
The p a rties w h o h a ve u n d e rw ritte n th e s t o c k o f th e
A m e r ic a n B o x B oa rd C o . are n o t p a id a n y c o m m is s io n . T h e y s im p ly
ag ree t o ta k e su ch s t o c k as y o u d o n o t t a k e , a n d a t th e sam e p r ic e . T h e
p r io r rig h t t o su b scrib e is y o u rs.
T h e U ncas P a p er C o. w as b o u g h t o r ig in a lly b v th e U n ite d B o x B oa rd
& P a p er C o. fo r $ 3 1 5 ,6 5 0 .
It ea rn e d In 1003 $ 6 5 ,3 5 6 ; in 1904, $ 7 7 ,5 8 5 ;
In 1 9 0 8 ,$ 3 6 ,3 4 1 . T h e s t o c k w as c o n v e y e d t o th e A m e rica n S ra tw b o a rd C o.
fo r an a d e q u a te co n s id e r a tio n , p a id In c a s h , a t a tim e w h en th e U n ited
C o m p a n y w as s o re ly In n eed a n d had h y p o t h e c a t e d e v e r y o th e r av a ila b le
asset t o m eet th e sin k in g fu n d ch arg es o f $ 3 5 0,00 0 p e r a n n u m u n d e r its
th en e x istin g general m o r tg a g e , w h ich y o u r presen t d ir e cto r s fo u n d o u t ­
sta n d in g w hen th e y assu m ed th e m a n a g e m e n t, b u t w h ic h t h e y h a v e since
s u cce e d e d In retirin g.
T h e cir c u la r o f D e c . 20 offers th e en tire $ 2 ,5 0 0 ,0 0 0 s t o c k o f th e A m erica n
B o x B oa rd C o. fo r su b s c r ip tio n a m o n g y o u , a t p a r , fo r c a s h , th e p a y m e n ts
t o be m a d e in su ch m a n n e r th a t 3 4 % , e q u a l t o $ 8 5 0 ,0 0 0 , th e e x a c t p u rch ase
p rice o f th e assets t o b e s o ld , w ill be ca lle d fo r in c a sh .a t in te rv a ls d u rin g th e
y e a r , a n d th e rem a in in g 6 6 % w ill b e held in reserve t o m e e t, if n e ce ssa ry , th e
$1 ,3 0 2 ,4 0 0 colla tera l tru st b o n d s fo r w h ich th e A m e rica n S tra w b o a rd s to c k
is n o w p le d g e d , an d p a y m e n t o f w h ich th e A m e rica n B o x B oa rd C o . as­
su m es: $ 3 4 7,60 0 n o t b e in g Intended t o be ca lle d fo r a t all unless n e ce ssa ry,
a n d fo rm in g a reserve t o fall b a c k u p o n t o m eet Interest a n d sin k in g fu n d
ch a rg es In case o f n e e d , as it Is m o s t Im p ro b a b le th a t th e e arn in gs o f th e
A m e r ic a n S tr a w b o a r d C o . w ill c o n t in u e a t th e sam e ra te as d u rin g th e past
yea r.
T h ere w ill b e le ft In th e U n ite d B o x B o a rd & P a p e r C o . so m e o f th e b e st
earners in th e b o x b o a r d a ls o o f th e straw b o a rd bu sin ess. T h e reason th a t
th e c o m p a n y ’s n et earn in gs o n ly sh o w $ 8 0 ,0 0 0 Is th a t Its p ro p e rtie s are e n ­
cu m b e r e d w ith u n d erly in g Hens a m o u n tin g t o $ 1 ,1 5 0 ,0 0 0 ; lirst m o rtg a g e
b o n d s o u ts ta n d in g , $79 2 ,5 0 0 ; c o lla te ra l tru st 6 % b o n d s a m o u n tin g t o $ 1 ,3 0 2 ,4 0 0 , a n d flo a tin g d e b t o f $ 8 5 0 ,0 0 0 ; w hile th e A m e r ic a n S tra w B oa rd
C o. has a b o n d e d d e b t o f o n ly $ 2 6 8 ,0 0 0 , w ith o th e r in d e b te d n e ss o f $ 3 1 ,4 8 7 ,
a n d th e U n ca s C o m p a n y has a b o n d e d d e b t o f $ 1 5 0 ,0 0 0 , w h ich w as a s ­
s u m ed b y th e A m erica n S tra w B oa rd C o .; b esid es w h ich th e A m e rica n
S tra w B oa rd C o. paid fo r th e U n ca s C o . $ 2 5 0 ,0 0 0 , a t o t a l o f $ 1 0 0 ,0 0 0 .
(C o m p a re financial s ta te m e n ts, V . 83, p . 1540.)
T h e U n ite d B o x B oa rd
&, P a p er C o . p a id fo r th e p r o p e r t y $ 3 4 5 ,6 5 0 , e x c lu s iv e o f a m r o tg a g e d e b t
o f $ 1 0 0 ,0 0 0 , b u t b e fo r e th e sale t o th e A m e rica n S tra w B o a rd .C o . t o o k from
th e U n ca s $11 0,00 0 in d iv id e n d s . • •
•




10?

A t th e t im e o f t h e issue o f th e co lla te r a l tru st b o n d s , v i z ., D e ce m b e r 190 5,
th e e a r n in g s o f th e A m e r ic a n S tra w B o a rd C o . fo r th e y e a r a m o u n te d t o
o n ly $ 1 3 9 ,0 0 0 , a n d th e parties w h o w ere a s k e d t o g iv e u p t h e A m e r ic a n
S tra w B o a rd s t o c k a n d a c c e p t th e co lla te r a l tru st b o n d s in its ste a d refu sed
t o d o s o unless all d iv id e n d s in e x ce ss o f 2 % p e r a n n u m u p o n th e A m e r ic a n
S tra w B o a rd s t o c k sh o u ld b e d e v o t e d t o th e re tire m e n t o f co lla te r a l tru st
b on d s.
ad
W h e n t h e p re se n t m a n a g e m e n t a ssu m e d o ffic e , th e c o m p a n y w as p r a c ­
t ic a lly a t t h e e n d o f its re sou rces.
Y o u r d ir e cto r s h a v e la b o r e d e a rn es tlv
in y o u r in t e r e s t , th e d e b t o f y o u r c o m p a n y has been la rg e ly r e d u c e d , its
ea rn in g s h a v e be e n Increased a n d th e p h y sica l c o n d itio n o f its p ro p erties
has b e e n im p r o v e d .
T h e y n o w ask y o u t o io in in p a y in g o ff th e floa tin g
d e b t .— V . 8 4 , p . 54.

United Copper Co., New York.— Change in Dividend.—
The directors on Jan. 9, having set aside the entire amount
necessary for the payment of the regular dividends on the
preferred stock during the year 1907 (viz., $300,000), de­
clared from the profits of the company a regular quarterly
dividend of lJ-^% and an extra dividend of M % on the
common stock (viz., $787,500), payable Jan. 30 1907 to
stockholders of record at the close of business Jan. 16 1907.
In 1906 dividends of 1 M % and Y i% extra were paid quar­
terly on the common stock, the aggregate amount of the divi­
dend just declared being, therefore, the same as in the four
preceding quarters, the only difference being that the rate of
the dividend distribution has been increased.— V. 82, p. 1501.
United Gas Improvement Co., Philadelphia.— Purchase.—
See South Bend & Mishawaka Gas Co. above.— V. 83, p. 1541.
United States Leather Co.— Suit to Prevent M erger.— See
Central Leather Co. above.— V. 83, p. 1597.
United States Smelting, Refining & Mining Co.— Common
Stock on 7 % B asis.— The directors on Jan. 5 decided that
dividends on the $17,523,650 common stock should be “ at
a regular rate of 7 % per annum, and as several of the direc­
tors will be absent at the date of the next regular meeting,
it was unanimously voted to declare at the present time both
the April preferred dividend and also a common stock divi­
dend at the rate of 7 % per annum, payable April 15 1907 to
stockholders of record at the close of business March 15 1907.
President W . G. Sharp in a circular says:
T h e T reasu rer s u b m itte d a p r e lim in a r y r e p o r t , s h o w in g t h a t th e p r o b a b le
n e t earnings o f th e c o m p a n y a n d its s u b -c o m p a n ie s fo r th e y e a r e n d in g D e c.
31 1906 w o u ld b e a p p r o x im a t e ly $ 3 ,5 0 0 ,0 0 0 ; t h a t th e q u ic k assets, in c lu d ­
in g ca s h , a c c o u n ts r e c e iv a b le , b u llio n a n d su p p lies o n h a n d o f th is a n d its
s u b -c o m p a n ie s e x ce e d s $ 1 0 ,0 0 0 ,0 0 0 ; th a t p r e fe rre d d iv id e n d s w ill req u ire
$ 1 ,6 4 3 ,3 4 4 50 p e r a n n u m ; a n d th a t th e surplus earn in gs an d d e p r e c ia tio n
fu n d , t o g e th e r w ith th e surplus o n th e b o o k s o f s u b s id ia ry c o m p a n ie s a t
th e tim e th e y w ere a c q u ir e d , w ill e x c e e d $ 3 ,0 0 0 ,0 0 0 .
T h e p r o b a b le fu tu re p o s itio n o f th e c o m p a n ie s , if ch a n g e s a t th e U ta h
sm elters are re q u ire d b y th e o rd e r o f th e c o u r ts , a n d i f th e v a lu e s o f m eta ls
sh o u ld re tu rn t o th e fo rm e r n o rm a l va lu e s fo r c o p p e r , silv e r a n d le a d , w ere
fu lly c o n s id e re d .
M r. H o ld e n assured th e d ir e cto r s th a t th e n e t o r e t o n ­
n age in th e s,everal m in es h ad be e n fu lly m a in ta in e d , b o t h in a m o u n t a n d
v a lu e : th a t th e R e a l d e l M o n te m in es a n d th e R ic lim o n d -E u r e k a m in es
m ig h t b e e x p e c te d t o b e c o m e p r o fita b le p r o d u c e r s d u rin g th e cu rre n t y e a r ,
a n d th a t th e a d d itio n s t o th e sm elters w o u ld also u n d o u b t e d ly b e in a c t iv e
o p e r a tio n d u rin g th e la tte r p a r t o f this y e a r .— V . 8 3 , p . 1 36 0, 912 .

United Wireless Telegraph Co.— Scope of New Project.—
As setting forth the avowed purposes of this new company,
organized during November 1906 in Maine (compare V. 83,
p. 1298), with $20,000,000 of authorized capital stock, in
shares of $10 each, of which $10,000,000 is 7 % participating
preferred), we cite a circular letter sent out under date of
Dec. 19 by Reall & Co., Land Title Building, Philadelphia,
which says in substance:
W e w ill a c c e p t A m e r ic a n M a rco n i s t o c k (M a rco n i W ire le ss T e le g r a p h C o.
o f A m e r ic a , V . 8 3 , p . 211; V . 8 0 , p . 1115; V . 7 6 , p . 863) o n th e basis o f ou r
la te sellin g p r ic e , $115 p er share (p a r $100) a n d $35 c a s h — $150— fo r 20
shares o f U n ite d p re fe rre d a n d $7 50 e a c h ; t o t a l p a r v a lu e , $20 0.
F o r each
20 d e p o s it c e rtifica te s (V . 7 6 , p . 869) o f M a rco n i o f A m e r ic a , p a r $5 ea c h ,
a n d $35 in c a s h , 20 shares o f U n ite d p re fe rre d a t $7 50— $1 5 0 — p a r v a lu e ,
$20 0.
F o r e a ch 5 shares (p a r $5 each ) o f M a rco n i o f C a n a d a (V . 8 1 , p .
562 ; V . 7 6 , p . 1358) a n d $7 50 ca sh fiv e shares o f U n ite d p re fe rre d at $7 50—
$37 50 (p a r v alu e $50) a n d in th ese p r o p o r t io n s .
O r y o u ca n su b scrib e
fo r w h a t y o u w a n t o f th e U n ite d p r e fe rr e d , p a y a b le in cash a t $7 50 p er
sh are, o r o n d e fe rre d p a y m e n ts . T h is o ffe r is fo r im m e d ia te a c c e p t a n c e .
T h e p la n o f th e c o m p a n y w ill b e t o a c q u ir e th e s t o c k o f e x is tin g o p e r a tin g
co m p a n ie s a n d b y th e p u rch a se o f th e ir tr e a s u r y shares fu rn ish th e m th e
ca p ita l fo r e x te n d in g th eir business o n la n d a n d sea. T h e c o m p a n y has
se cu re d a c o n tr o llin g Interest in th e A m e r ic a n D e F o re st W ireless T e leg ra p h
C o . (V . 8 3 , p . 2 1 1 ), ca p ita l s t o c k $ 1 5 ,0 0 0 ,0 0 0 , w h ic h c o n tr o ls th e A t la n t ic
W ireless C o ., th e O cc id e n ta l & O rien tal W ire le ss C o . a n d th e G rea t L a k es
W ireless C o ., a n d w ill a c q u ir e s t o c k o f th e M a rco n i c o m p a n ie s (V . 8 3 , p .
2 1 1 ).
It is e s tim a te d t h a t M a rco n i W ire le ss c a n earn $ 3 3 2,00 0 n e t fro m on e
t r a n s a t l a n t i c s ta tio n a lo n e , an d th a t is a b o u t t o b e e s ta b lis h e d .
U n d er
d a te o f D e c . 12 th e c o m p a n y sa y s: " W o r k on th e s ta tio n in Irelan d fo r t r a n s ­
o c e a n ic w o rk Is n o w b e in g pre sse d fo rw a r d n igh t a n d d a y , a n d it is c o n fi­
d e n t ly e x p e c t e d th a t th is s ta tio n w ill b e c o m p le t e d an d in o p e r a tio n ea rly
In th e y e a r 1907.
R e ce ip ts g e n e ra lly s h o w e n c o u r a g in g im p ro v e m e n t th is
y e a r , b e in g d o u b le th o s e o f th e p r e v io u s y e a r .”
T h e D e F orest C o m p a n y has e sta b lish e d Inland s ta tio n s a t P o r t la n d ,
B o s to n , S p rin g fie ld , N ew H a v e n , N e w Y o r k , a n d th r o u g h o u t th e c o u n t r y ,
a n d has sent a n d re c e iv e d m essages 800 t o 1,000 m iles d is ta n t, p r o v e n in ­
la n d c o m m u n ic a t io n p r a c t ic a b le , secu red th e in terest o f th e U n ite d S tates
G o v e rn m e n t, c o n tr a c ts w ith its n a v y , a n d e q u ip p e d o v e r s ix t y ste a m sh ip s.
(C o m p a re V . 8 3 , p . 2 1 1 ).
O n D e c. 31 th e p rice w ill be a d v a n c e d t o $8 per
share.

It is said that a considerable amount of Marconi stock has
been acquired, though as yet less than a majority.— V. 83,
p . 1298.
Utica (N. Y .) Gas & Electric Co.— Acquisitions— M erger.—
The controlling interests in this company have purchased
and propose merger with the following properties:
H e rk im e r C o u n ty L ig h t & P o w e r C o . (V . 7 3 , p . 724 ; V . 6 9 , p . 1 1 8 9 ),
th e G lens F alls G as & E le c tr ic C o . (V . 8 3 , p . 1 5 9 3 ), th e C o n s o lid a te d L ig h t
& P o w e r C o. o f W h ite h a ll an d th e U n ite d G a s, E le c tr ic L ig h t, H e a t &
F u el C o . o f S a n d y H ill, F o r t E d w a r d a n d S o u th G lens F a lls. C om p a re
V . 7 8 , p . 46, V . 7 9 , p . 2 4 7 6 .
.................................................

Warwick Iron & Steel Co., Philadelphia.— Official Circu­
lar.— President Edgar S. Cook on Jan. 9 issued a circular
replying to the criticism that an excessive amount had been
expended out of earnings for improvements, as claimed
in a circular issued under date of Dec. 31 by a minority
shareholders’ committee consisting of Charles K . Smith,
Chairman; George N. Mills, Secretary; John G. Schmidt,
George E . Schlegelmilch, James B. Anderson, John C. Sayre,
H. F. Gillingham, Louis Eisenlohr and Charles Beck.

108

THE CHRONICLE.

Mr. Cook says in substance:
T h e p r o d u c t o f N os. 1 a n d 2 fu rn aces at P o t t s t o w a fo r 1906fvvas 2 1 8 ,4 1 6
t o n s , as c o m p a r e d w ith 173,115 to n s in 1903.
In 1878 t h e c o m p a n y ’ s
p r o d u c t w as 17,000 to n s . T h e m a n a g e m e n t do e s n o t c o n t e m p la te fa r t h e r
large ex p en d itu res, so t h a t , e x c e p tin g reversals in bu sin ess c o n d it io n s
w h ic h ca n n ot be foreseen , th e o u tlo o k fo r shareh olders seem s brigh t, a n d
re a s o n a b ly w ell assured. T h e fo llo w in g s ta te m e n t w ill sh o w in a d v a n c e
o f th e an n u al rep ort th e a p p ro p ria tio n s d u rin g 1908 fo r n ecessary e q u ip ­
m en t an d im p ro v e m e n ts , e t c .: S ch u y lk ill R iv e r b r id g e , c o m p le t e d , c o s t ,
537 ,221 : new steam cra n e fo r h a n d lin g e x tr a o r e , & c., 5 3 .4 7 5 ; p a te n te d
b oiler a p p lia n ce , 54,913; new trestles, 5 4,186; G a y le y d ry -a ir p la n t ,
estim a ted c o s t , S 230.000; N o . 3 fu rn a ce , e stim a te d rep airs, 5 75 ,000 : t o t a l,
5 3 5 6 ,7 9 6 , o f w h ich 5 2 5 ,0 0 0 , o n a c c o u n t o f fu rn a ce N o . 3 , w ill be p a id b y
th e G lasgow Iron C o ., in m o n th ly in sta llm en ts.
In a d d itio n th e re has b e e n
disbu rsed fo r 4 % d iv id e n d p aid (V . 8 3 , p. 1 0 4 0 ), 5 5 9 ,2 6 4 , an d fo r b o n d s
p a id a n d ca n c e le d , S15.000.
G ra n d t o t a l, 5 4 3 1 ,0 6 0 .
A n y ch a n g e In t h e
b o a r d th a t w o u ld n o t su p p o rt m e In a safe p o lic y w o u ld c o m p e l m e t o
d iscon tin u e m y c o n n e c tio n w ith th e c o m p a n y .— V . 8 3 , p . 1040.

Wheeling Mould & Foundry Co.— Extra Dividend.— A
press report announces the declaration of a quarterly divi­
dend of 2 % and an extra dividend of 1 % , payable Feb. 1 on
stock of record Jan. 15.— V. 82, p. 575, 285.
Youngstown Sheet & Tube Co.— New Stock.— Stock­
holders voted Jan. 10 to increase the capital stock from
$4,000,000 to $6,000,000 and to build two blast furnaces of
400 to 450 tons each.— V. 83, p. 443.
— The banking house of W m . A . Read & Co. is offering for
investment $1,000,000 Philippine Government City of Ma­
nila sewer and water-works construction 4% registered gold
bonds. The bonds are dated Jan. 2 1907, due Jan. 2 1937,
and -are redeemable at the option of the Philippine Govern­
ment at 100 and interest after ten years from date. These
bonds were issued under authority of Acts of the United
States Congress, which gives all the advantages of Govern­
ment bonds and makes them exempt from taxation through­
out the United States. A special circular containing a full
description of the bonds will be mailed upon request.
— The 107th semi-annual statement of the Home Insurance
Co. shows its assets as follows: Cash on deposit, $1,074,430;
cash in hands of agents and in course of collection, $1,150,431;
real estate, $1,543,892; loans, $105,300; bonds and stocks,
market value, $20,839,174. The liabilities are: Cash capi­
tal, $3,000,000; reserve premium fund, $8,497,951; reserve
for losses, $1,035,375 81; reserve for re-insurance and other
claims, $897,492 13. Surplus over contingencies and liabili­
ties, $7,408,355; surplus as regards policyholders, $10,408,355.
— The new Commercial National Bank Building in Chi­
cago, besides housing some of the largest financial corpora­
tions in the city, promises to be headquarters for a number
of prominent stock and bond brokers. Shearson, Hammill
& Company have leased extensive quarters on the ground
floor, fronting on both Clark and Adams streets. Marshall,
Spader & Company, Chas. W . Gillett and A . O. Brown &
Co. will occupy rooms in the interior opening from the
rotunda. It is expected these firms will move about May 1.
— Lincoln & Co., 18 Wall Street, have prepared for the
use of investors a convenient little pamphlet containing a
printed list of bonds and notes maturing in the next seven
years. The pamphlet also includes a table showing the de­
crease in values that takes place from year to year in the case
of 5 % , 6 % and 7 % bonds, while yielding the same rate to
the investor.
— “ New Bedford, Mass., Statistics Relating to Its Cotton
and Other Manufacturing Corporations, National Banks,
Savings Banks, &c., for the Year 1906,” is the title of an in­
teresting circular compiled by Sanford & Kelley, bankers
and stock brokers of New Bedford and members of the Bos­
ton Stock Exchange.
— Fred. L. Harris has become associated with the Chicago
bond house of F. B. Sherman & Co. as Secretary of the cor­
poration. Mr. Harris was for nearly ten years office attorney
for the Trowbridge & Niver Company, Chicago. Attention
is called to the advertisement of Sherman & Co. on another
page.
— Ashwell & Co., members of the New York Stock Ex­
change, 30 Broad Street, will send their pamphlet, No. 55,
on “ Short-Term Investments,” free to all who apply. The
firm recommends for investment a railroad stock yielding
4.56% which they believe will double in value in a few years.
— Dennison & Farnsworth, Boston and Cleveland, an­
nounce the opening of an office in Philadelphia at 774-776
Drexel Building, under the management of Melville II.
Smart. The firm intends to make a special matter of buy­
ing and selling tax-exempt Pennsylvania municipal bonds.
— E. D. Shepherd & Co. are offering $1,000,000 Hartford,
Conn., 3 ^ % bonds due 1954 and 1955 and $250,000 Spring­
field, Mass., 3 }^ % bonds due 1925. Both of these issues are
for sale to investors at attractive prices.
— The fifty-sixth annual statement of the Manhattan Life
Insurance Co. will be found on another page. The receipts
for the year were $3,665,061, payments $2,738,937, balance,
$926,124.
— Geo. D. Cook & Co., 25 Broad Street, have prepared a
useful little pamphlet giving information regarding Mexican
Government and State bonds. Copies may be had on appli­
cation.
— Pfaelzer & Co. have issued a January circular covering a
large number of investment issues, both railroad and indus­
trials, netting from three to six per cent.




3 * lie

[V o l.
O v x r tm u x m a l

l x x x iv .

m e g .

COMMERCIAL EPITOM E.
Friday Night, Jan. 11 1907.
There is no sign of an ebb in the exceptionally active
business of the country and prices of the great staples re­
main firm. While legitimate trade is at its maximum,
speculation is at its minimum. The great manufacturing
industries are well employed and in some cases sold far
ahead; collections good at the West if a trifle slow in some
other sections; ancl outlook for 1907 is considered favorable.
LARD on the spot has moved within narrow limits with
trade quiet. In the main the tone of the market has been
steady, owing to the continued strength of the market for
futures at Chicago. Small sales of City have been made at
9c. and of Western at 9.30@ 9.40c. Refined lard has been
irregular, Continent being easier and other grades stronger.
A small export business has been done but trade 011 the
whole has been dull. Refined Continent 9.90c., South
America 10.65c. and Brazil in kegs 11.65c. The market
for futures at the West has shown some irregularity at
times, owing to liquidation, but the tone has ruled firm,
influenced by continued moderate receipts of live hogs, buy­
ing by packers and commission houses and covering of shorts.
D A I L Y C L O S IN G P R I C E S O F L A R D F U T U R E S IN C H IC A G O .
S a t.
M on.
T u es.
W<>d. T h u rs.
•F r l .
9.2 0
9 .0 5
9.12 H
9 .2 2 H
9 .2 2 * :
J an u ary d e liv e r y ________ 9.20
M a y d e liv e r y -------------------9 .4 2 H
9 . 4 2 t f 9 .2 7 )4
9.3 7 * $
9 .5 0
9 .4 5
9.47 A
9 .3 5
9 .4 0
9 .5 2 ) 4
9 .4 7 ) 4
J u ly d e liv e r y ____________ 9.47>£

PORK on the spot has ruled steady to firm with the rest
of the provision list. Trade has been quiet and of a jobbing
character. Mess is quoted at $17 50@ $18, clear $18@ $19
and family $18 50@ $19. Cat meats have been steady with
a small jobbing trade. Pickled shoulders 8c., pickled hams
12@123^c. and pickled bellies, 14@ 10 lbs., 1034@10% cTallow has been dull but stronger on small offerings and
supplies; City 6 % @ 6 }^ c . Stearines have been dull and
easier; oleo l l % c . and lard 10c. Butter has been fairly
active and easier; Creamery extras 32c. Cheese has been
in moderate demand and steady; State factory 143^c.
Eggs have been firm and more active; Western firsts 27c.
O IL.— Cottonseed has been dull but in the main steady,
owing to light offerings. Prime summer yellow 43@44c.
Linseed has been quiet and steady; the views of both
buyers and crushers remain unchanged. City, raw, Ameri­
can seed, 42@ 43c.; boiled 43@ 44c.; Calcutta, raw, 70c.
Lard has been dull but firm on light supplies; prime 77 @79c.
Olive has been quiet but firm with an upward tendency;
yellow 65@70c. and green 59@ 60c. Cocoanut has been
quiet and steady; Cochin 9 % @ 1 0 c . and Ceylon 9 ^ @ 9 ^ c .
Peanut has been quiet and steady; yellow 50@ 60c. Cod
has been moderately active and steady; domestic 36@ 37c.
and Newfoundland 38@40c.
COFFEE on the spot has been dull and easier. Rio No. 7,
6% c , and Santos No. 4, 7% c. West India growths have
been in moderate demand and steady; fair to good Cucuta
8 ^ @ 9 3 ^ c . The market for future contracts has continued
to decline, owing to weak cables from Havre and Hamburg,
free selling at times for foreign account, local and Wall
Street liquidation and a lack of aggressive support. The
receipts are still large and this fact, together with the dulness of the spot trade, encourages the bears to attack the
market from time to time. Outside interest in the specula­
tion is still absent. Closing prices were as follows:
J a n u a r y _________ 5 .3 0 c . | M a y _______________ 5 .5 0 c . I S e p t e m b e r ----------- 5 .8 0 c .
F e b r u a r y _____ . 5 .3 5 c . i J u n e _____________ 5 .5 5 c . i O c t o b e r ---------------5 .8 5 c .
M a r c h ________ _ 5 .4 0 c . |J u l y ____________ - 5 .6 5 c . I N o v e m b e r ---------- 5 .9 0 c .
A p r i l ________ - - 5 .4 5 c . |A u g u s t ___ _______ 5 .7 0 c . |D e ce m b e r ________ 5.U5c.

SUGAR.— Raw has declined with trade dull. Centrifugal,
96-degrees test, 3 15-32c., muscovado,89-degrees test,3 l-32c.,
and molasses, 89-degrees test, 2 25-32c. Trade in refined has
heen of a hand-to-mouth character, buyers still holding aloof
for concessions. The Federal refinery has reduced refined
to 4.55c. but other refiners continue to quote 4.70c. With­
drawals on old contracts have been small.
PETROLEUM has ruled firm. There is considerable
difficulty in securing some grades of refined. Refined bar­
rels 7.50c., bulk 4.40c. and cases 10c. At Cleveland, Ohio,
the Standard Oil Co. has advanced 86-test gasoline from
2 23 ^to 23}^c.
Naphtha has been fairly active and steady;
75@ 76 degrees 18c. in 100-gallon drums. Gasoline in mod­
erate demand and steady; 89 degrees 21c. in 100-gallon
drums.
TOBACCO.— The market for domestic leaf has ruled firm
Packers generally report trade quiet with supplies light.
Havana has been quiet and firm. A recent decision of the
United States Supreme Court in the matter of assessing
imports according to weight at the time of arrivals has
aroused considerable discussion in the trade. It is con­
tended that from the time of importation to the time of
withdrawal from bonded warehouses there is a considerable
decrease in the weight of the tobacco and a movement was
started to secure taxation from the time of withdrawal from
warehouse. The practice of the Treasury Department,
however, will continue as heretofore.
COPPER has been firm and more active; lake 24 % @ 2 5 c.
and electrolytic 2 4 *4 @ 2 4 }^ c. Lead has been dull but
firmer at 6}^ c. Spelter has been quiet and easier at 6 % c .
Tin has been dull and easy; Straits 41.30c. Iron has been
fairly active and steady; No. 1 Northern $24@$26; No. 2
Southern $22@$25 50.

109

THE CHRONICLE.

J a n . 12 1907.]

COTTON.

On S h ipboard, N o t Cleared fo r —

Friday Night, January 11 1907.
THE MOVEMENT OF TH E CROP as indicated by our
telegrams from the South to-night is given below. For
the week ending this evening the total receipts have reached
312,936 bales, against 311,945 bales last week and 298,196
bales the previous week, making the total receipts since
the 1st of September 1906, 6,382,924 bales, against 5,360,956
bales for the same period of 1905-06 showing an increase
since Sept. 1 1906 of 1,021,968 bales. ,
R ec e ip ts a t—
P t A r t h u r ______
Corpu sC hristi, &c.
N ew O rlea n s-----M ob ile
________
P e n s a c o l a _______
J a c k s o n v ille , & c.
B r u n s w i c k ______
C h a r le s t o n ______
G e o r g e t o w n ____
W i lm i n g t o n ____

Sat.

M on.

T u es.

W ed.

10,327

18,394

30,885

25,708

16,525

1 1,685
1,841

20,819
1,030

18,055
1.121

18,808
1,676

12,878
1,250

9,121

’ " ’ 50
8,711

9,922

4,9 5 6

6 ,346

” 228

*164

118

1,122
3,011

” 212
115
904
3,501

'" " 6 8

” 090
4,358

"491
2,987

1,364
2 ,194

1,054
655

04
528

1,154
1.940
875

"3 2 2
575

" ’ 332
1,634

1,146

1,053
1,902
50

50,0 6 0

4 2 ,024

N 'p o r t N e w s, & c.
N ew Y o r k ...........
B o s t o n ___________
B a lt im o r e _______
P h ila d e lp h ia -------

” "80

150

"""io

T o t a l th is w eek

46,045

5 4,049

05,688

Thurs.

17,477 125 ,316
’ 498
9 1,6 1 0
7,900

‘ 498
9,371
982

"so
4 0,589
5,280
1,139
115
5,785
17,991
875
1,772
5,591
1,902
511

7 ,533
5,286
349

....

48,4 7 0 3 12 .930

The following shows the week’s total receipts, the total
since Sept. 1 1906, and the stocks to-night, compared with
last year:
190 5-0 0.

1 906-07.
R eceip ts to
J a n . 11.

T his
w eek.

S in ce S ep
1 1900.

G a lv e s t o n ____ . 125,316 2,4 5 0 ,8 7 5
84,131
P t . A r t h u r _____
27,170
498
C o r p u s C h r is ti, &c
N ew O rlea n s. _ . 91,0 1 0 1,4 5 2 ,1 2 6
186,765
7,900
M o b ile ____________
72,279
50
4,861
J a c k s o n v ille , & c .
S a v a n n a h ___ _____ 46,589 1 ,139,097
5,286
114,194
B r u n s w ic k ____ __
1,139
C h a r le s t o n ____ _
118,293
G e o rg e to w n ____
115
944
5,785
200 ,140
W ilm in g to n ____
17,991
383 ,802
875
14,907
N ew p ortN ew s& c.
1,772
10,400
N ew Y o r k . . _ .
5,591
2S ,744
B o s to n _ ________
1,902
29,943
B a lt im o r e ____
511
P h il a d e l p h i a ------3,587

This
w eek.

S to c k .

S in ce S ep
1 1905.

42,188 1,791,015
80,021
6,405
27,143
598
9 34 ,242
40,337
6,549
177,880
18,345
91,008
10,807
737
16,080 1,107.121
133,001
5,157
144,837
1,893
604
271,492
3,731
484,745
10,103
12,373
1,187
1,939
90
45,949
3,832
42,037
2,481
3,442
331

1907.

1906.

408 ,324
_____
___
4 07 ,508
56,028

156,772
331 ,063
48,154

179,570
21,705
13,054

107,701
22,517
41,241

13,330
51,257
1.774
157,302
7,900
8.353
1,347

4,077
58.309
223 .207
4,017
12,801
3,974

T o t a l ___________ 312 ,930 0 ,3 8 2 ,9 2 4 100,110 5,3 6 0 ,9 5 6 1 ,327,458 1 ,014,513

In order that comparison may be made with other years,
we give below the totals at leading ports for six seasons:
1904.

1905.

1903.

R eceip ts at—

1907.

1900.

G a lv e s to n .& c .
N ew O rle a n s .
M o b i l e _______
S a v a n n a h ___
C lia r le sto n .& c
W ilm in g ’n .& c
N o r f o l k ______
N ’ p o r t N ., &c
A ll o t h e r s ____

125,814
91,010
7,900
40,589
1,254
5,785
17,991
875
15,112

49,191
40 ,337
0,549
10,080
1,893
3,731
10,163
1,187
: 30,979

48,585
84,1 5 8
5,1 7 7
18,047
1,699
1,471
10,305
816
10,896

5 5 ,6 9 0
67,264
4,276
2 2 ,548
1,362
3,001
10,552
1,648
13,118

68,620
69,325
0,551
39,223
4,5 0 6
5,4 3 7
18,033
872
13,467

53,4 7 9
8 3 ,3 0 7
4,901
33,3 1 9
5,785
4,4 5 0
14,842
598
27,805

T o t a l th is w k .

3 12 ,930

160,116

181,154

179,459

226 ,094

228 ,4 8 6

1902.

S in ce S ep t. 1 . 0 ,3 8 2 ,9 2 4 5 ,3 6 0 ,9 5 6 6 ,2 2 1 ,5 8 2 5 ,6 5 4 ,4 1 2 5 ,4 1 2 ,3 7 9 5 ,3 9 8 ,8 4 7

The exports for the week ending this evening reach a
total of 247,769 bales, of which 151,522 were to Great Britain,
33,347 to France and 62,900 to the rest of the Continent.
Below are the exports for the week and since Sept. 1 1906:
Week ending Jan. 11 1907. 1From Sept. 1 1906 to Jan. 11 1907.
Ex-ported to—
j
Expoled to—
i-jji/fJU/ to
from—
G a lv eston ____

Conti­
Great I
Britain. F r’nce nent.
49,615 22,044

Corp.Christi.&c
New Orleans. _ 74,511 10,024
M o b ile..............
.......... — P e n sa co la ____
Fernandina . . .
Savannah ____
6.906
Brunswick____
5,672
_____
Charleston-----W ilm ington—
5,423 . . . .
Newport News
New Y o r k ____
Boston ______
B a ltim o re ____
P h iladelphia. .
Portland, Me.
San Francisco.
S ea ttle........... ..
T a co m a ______
Portland. O re.
l’ em b in a _____
D etroit_______

Total.

Great
Britain. France.

10,257 81,916

978.550275.202
32.071 _____

9,791 94.320
9,596 9,596

450,910 177,170
35.160 25,910
30,762 22,076

15,421 22,327
5,072

113,010 42,678
42,894
_____
6.000
88,521
2,367
4,218
111,554 .24,080
63,795 _____
45,760 2,342
28,935
1,584

5,423
.........
_____
2,470 1,279 4,306 8,055
2,934 ____
110 3,044
__
2,370 ____
2.370
1,621 ____
139
1,700
____
_____
____
3,660 3,000
____ 10,280 10.2S0
____
_____
_____
___
_____
_____
-----..........
.........
..........

4,555

..........

Conti- j
Total.
nent.
564,144 1,817,890
r.->.o«n
84.131
1,547
1.547;
365,156 999,248
89,212
28,142
27,661
80,499
100
100
472,295 627,989
77,072
34,178
18,063
18,063
150,830 245,351
3,018:
5,385
4,2 IS
100.310 235,947
9,151;
72,946
46,024
94,126
837
29.772
______
1,584
44,1541
44,154
38,709
38,709
12,837;
12,837
______
1,855
1,8551
4,555

Total ........... 151,522 33,347 02,900247,769 2,040,658 575.464 1,971,074 4,587,190
Total 1905-06.

77,409 36.338 87.644 201.391 1.758,040 526,617 1,490,8733 781,530
i

In addition to above exports, our telegrams to-night also
give us the following amounts of cotton on shipboard, not
cleared, at the ports named. We add similar figures for
New York.




N e w O rle a n s . .
G a l v e s t o n ____
S a v a n n a h ____
C h a r le s to n ____
M o b i l e ___
N o r f o l k _______
N ew Y o r k ____
O th er p o r t s ___

10,991
70,908

. G er­
m an y.

22,9 2 5
27,737

3 9,607
41,059
4,700

10’, 566

50

9",500

2",800
12,000

" ’ 700
5,000

2,500
11,000

56,412 108 ,420
14,433 29,098
30,139 42,422

T o t a l 1 9 0 7 . . 107,359
T o ta l 1 9 0 6 ._ 71,836
T o ta l 1 9 0 5 .. 57,690

Other
F o r e ig n

C oa st­
w ise.

Total.

L ea vin g
stock.

1,500
2 ,000

450 89,352
16,345 171,295
2,000 18,000
2,000
2,000
1,987 22,137
26,815 2 0,815
7,5 0 0
30,000

3 18 ,150
2 37 ,029
161 ,576
11,054
33,891
2 4 ,442
149 ,802
24,409

4 5 ,305
32,492
5 0,913

4 9 ,597 307 ,099
32,2 1 0 180.075
10,904 1 98.008

9 00 ,359
8 34 ,4 3 8
7 4 3 ,1 4 5

15,319
15,180
11,300

Total.

F r i.

” 203

Great
J a n . 11 at— B ritain . F r a n ce

Speculation in cotton for future delivery has been far from
active and between such conflicting influences as big receipts
on the one hand and a big demand for the actual cotton on
the other, the net changes for the week are comparatively
slight. Prices have fallen one day under the influence of
large receipts and liquidation only to rise the next by reason
of exceptional activity and strength in the Liverpool mar­
ket, strong prices at the South and covering of shorts here,
together with more or less buying for long account and bull
support. The ginners’ report, which was issued on the 9th
inst., was the cause of a certain amount of irregularity of
prices before it appeared, there being considerable uncer­
tainty as to what its tenor might be. But its actual appear­
ance was the signal for a considerable display of strength,
as the total was on the whole smaller than many had ex
pected. Up to January 1, according to the Census Bureau,
the quantity ginned amounted to 11,750,944 bales, against
9,725,426 during the same time last season. This meant
651,943 bales since December 13, the date of the previous
report, against 426,117 for the same period in the previous
year. The report was variously interpreted as pointing to
a crop of anywhere from 12,500,000 to 13,000,000 bales, and
as these figures coincide with the ideas of many of the bulls
as to the size of the world’s consumption of American cotton,
and as the short interest had apparently become somewhat
extended, prices on the day the report was issued advanced.
On the following day, however, came a setback, owing to
large receipts and liquidation on both sides of the water,
which overbalanced the effect of continued activity in the
spot trade at Liverpool, where the daily sales of actual cotton
have ranged from 12,000 to 15,000 bales. It was in the face,
too, of continued firmness of the spot markets at the South
and a feeling among many that although the “ into sight”
movement for the week was likely to considerably exceed
the_ estimates earlier in the week, the weekly spinners’
takings would again reach very generous proportions.
The speculation, however, has suffered from the continued
indifference of the outside public and possibly in a measure
from the agitation which has latterly arisen in regard to the
New York contract and the schedule of differences between
grades ruling here. It has now been recommended by a
special committee of the Exchange to strike off eleven of the
lower grades hitherto tenderable on contracts and also to
make revisions of differences three times a year. January
21 has been appointed by the Board of Managers as the date,
for a general discussion of the committee’s report, and the
Managers will then set a date for a ballot by the members of
the Exchange on these questions. To-day prices fluctuated
within small limits, ultimately advancing, however, owing
to a belief that spinners’ takings during the week have been
large. This offset the large receipts and rather free local
and Southern selling. The net changes for the week show
a small advance in the later months and one of 13 points on
January, reflecting in some degree the firmness of the spot
situation. Cotton on the spot has been dull.
Middling
closed at 10.80c., an advance for the week of 5 points.
The rates on and off middling, as established Nov. 21 1906
by the Revision Committee, at which grades other than
middling may be delivered on contract, are as follows:
F a i r ....... ............ c .
Strict mid. fair___
Middling fair_____
Barely mid. fa ir ..
Strict good m i d .. .
Fully good m id___
Good m iddling___
Rarely good m id _.
Strict m iddling___
M id dlin g......... ..

2.00 on
1.75 on
1.50 on
1.25 on
1.00 on
0.88 on
0.70 on
(1.57 on
0.38 on
Basis

Strict low m id - .c .
Fully low m id____
Low m iddling____
Barely low m id___
Strict good o rd ___
Fully good o rd ___
G ood ordinary____
Strict g’ d mid. tgd.
G ood mid. tinged.
Strict mid. tin ged.

0.14 off
0.32 off
0.50 off
0.70 off
0.90 off
1.07 off
1.25 off
0.30 on
Even
0.00 off

Middling t in g e d .c .
Strict low m id.ting
Low mid. tin ged. .
Strict g’ d ord. ting
Fully mid. stained
Middling s ta in e d ..
Barely mid.stained
Strict low in. stain
Fully 1. m . stained
Low mid. stained.

0.12
0.46
0.90
1.25
0.42
0.50
0.78
1.50
1.75

oil
off
off
off
off
off
off
off
off

2.00 r.ff

On this basis the official prices for a few of the grades for
the past week would be as follows:
Sat.

Alon.

T u e s.

W ed.

T h i! r s .

G o o d O r d in a r y ____________
L o w M id d lin g
M id d lin g . .
G o o d M id d lin g ____________
M id d lin g F a ir
_____

9.60
10.35
10.85
11.61
12.35

9 . GO
10.35
10.85
11.01
12.35

9.6 0
10.35
10.85
11.01
12.35

9 .6 5
10.40
10.90
11.60
12.40

9.5 5
10.30
10.80
11.56
12.30

9
10
10
11
12

55
30
80
56
30

GULF.
G o o d O r d in a r y ____________
L o w M id d lin g .
____
M id d lin g . . .
_ ________
G o o d M id d lin g ____________
M id d lin g F a i r . .......................

9.85
10.00
11.10
11.80
12.00

9.85
10.60
1 1.10
11.86
12.60

9.85
10.60
1 1.10
11.80
12.00

9.90
10.05
11.15
11.91
12.65

9 .8 0
10 .5 5
1 1.05
11 .81
12.55

9
10
11
11
12

80
55
05
81
55

S T A IN E D .
L o w M id d lin g _____________
M id d li n g _______
_______
Strict L o w M id . T in g e d _.
G o o d M id d lin g T in g e d ____

8.85
10.35
10.39
10.85

8.85
10.35
10.39
10.85

8.85
10.35
10.39
10.85

8.90
10.40
10.44
10.90

8.80
10.30
10.34
10.80

8
10
10
10

80
30
34
80

F ri.

1907. Movem ent to January

12

1906.

.

.

_

-

_

.

.

.

.

.

-

.

-

-

.

244,1814,974,520 262,121695,864 101,911 4,027,097 120,043 728 ,7 4 9

.

-

T o t a l t o b e d e d u c t e d ____________ 12,718

122,538

7 ,6 6 8

122 ,409

L e a v in g to t a l n e t o v e r l a n d . a -----------6 3 ,916

7 0 2 ,9 5 7

28,118

4 77 ,900

a In c lu d in g m o v e m e n t b y rail t o C a n ada.

T o t a l v is ib le s u p p ly ___ __ . . .5 ,389,564 5 ,4 3 1 ,9 8 8 4 ,6 5 2 ,6 6 0 4 ,0 3 1 ,6 2 2
O f th e a b o v e , to ta ls o f A m e r ic a n a n d o th e r d e s c r ip tio n s are as fo llo w s :
A m e r ica n —
999 ,000
6 1 3 ,0 0 0
862 ,000
L iv e r p o o l s t o c k -------------------b a le s .
536 ,0 0 0
43 ,000
M a n ch ester s t o c k ___ ___________
4 1 ,0 0 0
3 4,000
62,0 0 0
733,000
C o n tin e n ta l s t o c k --------------------------- 633 ,000
610 ,000
670 ,000
547 ,000
630,000
A m e rica n a floa t for E u r o p e ___
8 8 5 ,1 8 7
615 ,0 0 0
941 ,213
9 08 ,316
f . S. p o r t s t o c k s ------------------1 ,3 2 7 ,4 5 8 1 ,0 1 4 ,5 1 3
746 ,0 3 9
7 28 ,749
U . S. In terior s t o c k s ________ - . . 895 ,864
4 7 7 ,5 2 0
38,7 2 6
17,408
56,0 5 5
1,786
U . S . e x p o r t s t o - d a y ----------------- . .

.

T o t a l E u ro p e a n s t o c k s __________1 ,4 8 0 ,0 0 0 1,9 5 7 ,0 0 0 1 ,6 3 7 ,0 0 0 1,3 9 8 ,0 0 0
97,000
In d ia c o t t o n a flo a t fo r E u r o p e ___
148,000
78,000
141,000
A m e r ic a n c o t t o n a floa t fo r E u ro p e 8 85 ,187
615 ,0 0 0
547 ,0 0 0
6 30 ,000
E g y p t , B ra z il,& c.,a lloa t fo r E u ro p e
89,0 0 0
68,000
61,000
58,000
S t o c k in A le x a n d r ia , E g y p t --------- 252 ,000
204 ,000
23 3 ,0 0 0
2 0 0 ,0 0 0
726 ,000
S to c k in B o m b a y , I n d i a ___ ______
463 ,000
2 26 ,000
342 ,000
S t o c k I n U . S. p o r t s _______________ 1,3 2 7 ,4 5 8 1 ,0 1 4 ,5 1 3
9 08 ,316
9 41,213
S t o c k In U . S . in te rio r t o w n s - . . 695 ,864
728 ,749
4 9 4 ,5 2 0
746 ,0 3 9
5 6 ,055
38,726
U . S . e x p o r t s t o - d a y . --------------------1,786
17,208

T ota l, 33 to w n s .......................................................................................... ................... ........................

Thursday,
Jan.
10.

9.83

6 54 ,000

W eek .

W ednesday,
Jan. !).

9.64©

754 ,000

F r id a y ,
Jan. 11.

Tuesday,
Jan. 8.

9.99
—

672 ,0 0 0

M on d a y,
Jan. 7.

9.55 @ 9.69
9 .5 5 — 9.56

9.69 @ 9.80
9.69 @
9 .7 7 — 9.78 —
—

—
9.82@
9.92
9 .8 2 © 1 0 .0 8
9 .8 9 — 9.90 —
—
—
9.93 © 1 0 .0 8
—
—
9.88@
9.98
9 .8 8 @ 1 0 .1 6
9 .9 6 — 9.97 —
—
—

—

-- —
©
9.90 ®10.12
10.10— 10.11

—
-—
9.95
—

9.84
9 .8 3 @ 1 0 .0 5
9.89 —
—
—

9.83©
9 .8 7 —

----------- ©
---------- —

—

9.73©
9.79
9.73©
9 .7 8 — 9.79 —
—

----------- ©
---------- —

—
—

----------- @
---------- —

9.74 @ 9.88
9 .7 4 — 9.76

----------- ©
---------- —

9.87 @ 1 0 . 0 0 —
@ 9.93
10.00— 10.02
9 .8 2 — 9.84

----------- @
---------- —
9.75 ® 9.90
9 .8 8 — 9.89

----------- @
---------- —

----------- ©
—
---------- --------------------—

-- —

----------- ©
—

2 6 4 ,0 0 0
2,000
11,000
53,000
5,0 0 0

Saturday,
Jan. 5.

9.53 @ 9.70
9 .6 6 — 9.68

@
— 9.64 @ 9.68 —
@
--------- @
—
9 .6 0 — 9.62
9 .6 4 — 9.66 —
—
—

----------- @
---------- —

9.7 0
—

9.55 @ 9.65
9 .6 5 — 9.66

@ 9 .8 3 —
9 .7 7 — 9.79

9.73 @ 9.92
9 .7 3 — 9.74

9.51 © 9.62
9.51 ©
9 .6 0 — 9.61 —
—

—
@
-----------------------------------------9 .7 9 — 9.81
9 .7 2 — 9.73
9 .7 6 — 9.78

9.70 @ 9.94
9 .9 0 — 9.91

9.70
9.60

9.75 ® 9.86
9 .8 5 — 9.86

9.77 @ 9.92
9 .9 1 — 9.92

9.60©
9 .5 8 —

9.82 ® 9.99
9 .8 2 — 9.83

9.76 ® 9 . 8 6 —
®
------------@
— 9 .7 6 @ 1 0 .0 0
9 ,9 8 — 10.00
9 .8 1 — 9.83
9 .8 5 — 9.87 —
—

9.52 @ 9.69
9 .6 5 — 9.66

9.96 @ 1 0 . 0 0 —
@ 9.88
9 .9 0 — 9.92
9 .8 4 — 9.86

9 .8 4 @ 1 0 .0 1
9 .8 4 — 9.85

—
®
—
10.00— 10.01

9.82 @10.06
10.03— 10.04

9.92 @10.08
9 .9 2 — 9.93

-----—

----------- @
—

----------- @
---------- —

9.92 @10.07
9 .9 1 — 9.92

--------------- -------------------®
9.93 @ 9 . 9 5 —
@
1 0 .0 0 — 10.02 10 .0 6 — 10.07
9 .8 7 — 9.89
9 .9 2 — 9.93

9.84 @ 9.98
9 .9 6 — 9.97

9.91 @10.02
10 .0 1 — 10.02

-------- @

------- v

9.91 @ 9.93
9 .9 6 — 9.97

10.00 @10.16
9.91 @10.05
10.00— 10.01 1 0 .0 4 — 10.05

—
@
— —
@10.08
1 0 .0 5 — 10.06
9 .9 6 — 9.97
10.00 @10.12
1 0 .1 0 — 10.11

@
—

9 .9 6 @ 1 0 .0 5 —
@10.05
10 .0 4 — 10.05
9 .9 4 — 9.95
—
—

----------- @
---------- —

9.87 ® 9.87
9 .8 7 — 0.88

--------@
--------—

----------- @

9.90 ® 9.95
9 .8 7 — 9.89
@
—

----------- @
---------- —

9.84 @ 9.90
9 .9 2 — 9.93
—
—

--------@
------- —

----------- ®
9 .9 6 — 9.98 —
@
—

—

—
—

698 ,0 0 0
178 ,000
3,000
19,000
121 ,000
1,000

B a les. I S in ce S ep t. 1—
Bales.
1 3 ........................... 2 4 0 ,9 8 6 11904-05— Ja n . 1 3 .................... 8 ,3 2 7 ,0 9 3
1 5 . . . .......................2 4 9 ,2 4 1 1190 3-0 4— Jan . 1 5 . . ................ 7 ,4 8 0 ,1 8 5
1 6 ..............................2 9 7 ,2 3 9 1 1 9 0 2 -0 3 — Ja n . 1 6 .................. .7 ,3 7 2 ,4 6 6
1 7 ........ ................... .2 9 6 ,0 2 8 1 1 9 0 1 -0 2 — Ja n . 1 7 . . ................7 ,3 4 6 ,6 0 5

Jan .
Jan .
Ja n .
Jan .

11

9 3 ,9 6 7
9 ,6 0 5
18,837
700 ,000
9 ,0 0 0
3 5 6 ,0 0 0
4 ,0 0 0
233 ,0 0 0

983 ,000
15,000
371 ,000
4,000
182,000
3,000
37,000
39,000
3,000

1905—
1904—
1903—
1902—

M ovem ent to January

600 ,309

6,7 4 0
247
681

R eceipts.
Ship- Stocks R eceipts.
S h ip - S tocks
------------------------------------------------------------------------------------------------------------------------------------------------------- ments. J a n . ------ments. J a n .
W eek.
Season.
Week.
11
Week.
Season.
W eek.
12.

35,786

7 2 ,7 3 4
2 7 ,6 4 2
2 2 ,1 6 2

808 ,000 1 ,2 0 3 ,0 0 0
11,000
11,000
339 ,000
4 08 ,000

T o t a l m a r k e t e d --------------- . ______423 ,852 7,9 7 8 ,8 8 1
599 ,588
In te r io r s to c k s In e x c e s s ---------------------a l7 ,9 4 0

234 231 6.719.85G
n l 8 102
593 ,572

C a m e Into sig h t d u rin g w e e k ______405 ,912
T o t a l in sig h t Ja n . 1 1 ______________________ 8 ,5 7 8 ,4 6 9

216 132
. . . . . . 7 ,3 1 3 ,4 2 8

North, spinners’ takings to Jan. 11 . . 96,822 1 ,3 3 3 ,4 9 2

56 101 1 ,3 3 1 ,8 3 4

________

___

Towns.

8 2 5 ,4 9 5

T o t a l G rea t B ritain s t o c k ___
S t o c k a t H a m b u r g ___
. _______
S t o c k a t B rem en . ___________ . .
S t o c k a t A n t w e r p _______ : -----------S t o c k a t H a v r e ____________________
S t o c k a t .Marseilles___________ _____
S t o c k a t B a rcelon a . . _________
S t o c k a t G e n o a ___ __ ______ ________
S t o c k a t T r i e s t e _________________

Week —

Movement into sight in previous years:

Continental imports past week have been 124,000 bales.
The above figures for 1907 show an increase over last week
o fU 64,987 bales, a loss of 42,424 bales from 1906, an ex­
cess of 736,904 bales over 1905 and a gain of 1,357,942 bales
over 1904.

T o t a l gross o v e r la n d ____________ 7 6 ,6 3 4
D ed uct shipm en ts—
O v e rla n d t o N . Y . , B o s t o n , & c . . . 9 ,7 7 6
B e tw e e n in te rio r t o w n s ___________ 1,768
In la n d , & c ., fro m S o u t h __________ 1,174

1904.
615 ,0 0 0
12,000
73,000

---------1 9 0 5 -0 6 --------S in ce
W eek .
S ept. 1.
1 6 0 ,1 1 6 5 ,3 6 0 ,9 5 6
2 8 ,1 1 8
4 7 7 ,9 0 0
4 6 ,0 0 0
881 ,0 0 0

a D ecrea se d u rin g w e e k .

T o ta l v isib le s u p p ly ____________ 5 ,3 8 9 ,5 6 4 5 ,4 3 1 ,9 8 8 4 ,6 5 2 ,6 6 0 4 ,0 3 1 ,6 8 2
3 .8 0 d .
7 .5 0 d .
M id d lin g U p la n d , L iv e r p o o l______
5 .9 6 d .
6 .0 0 d.
7 .2 0 c .
M id d lin g U p la n d , N ew Y o r k ____
1 0 .8 0 c .
11 .8 0 c.
1 3 .8 0 c .
7K d.
E g y p t , G o o d B row n , L iv e r p o o l -1 0 l l - 1 6 d .
8 Hd.
9 'Ad.
1 0 .4 0 d .
9 .7 5 d .
P e r u v ia n , R o u g h G o o d , L iv e r p o o l
9 .2 0 d .
9 .0 0 d .
6 Kd.
5 54 d . 3 1 5- I 6d .
B r o a c h , F in e , L iv e r p o o l- - ____
5% d.
4 l-1 6 d .
5 7 -1 6 d .
6Hd.
T in n e v e lly , G o o d .L iv e r p o o l______ 5 9 -1 6 d .

--------1905 - 0 6 ------S in c e
W eek .
S ep t. 1.
11,418
24 2 ,6 7 2
5,9 8 6
113,690
1,480
2 6 ,7 1 4
3,2 7 8
4 8 ,9 6 3
2,381
32,534
132 ,736
11,243

1,000

E ufaula,
Alabama
. ................................................................................................................................................................................................ .21,2163145,0004421,2701735,016
M on tgom ery,
“
...............................................................................................................................................................................................
3,390131,088 5,74028,2862,328144,282 1,80435,392
Selma,
“
...........................................................................................................................................................................................
1,88696,1123,5006,4841,47390,589 1,02416,782
Helena,
A r k a n s a s .......................................................................................................................................................................................
2,29845,2792,27118,20359143,394 95811,351
Little H ock ,
“
....................................................................................................................................................................................
3,275165,2874,38249,2142,472117,699 2,52745,7 0 3
A lban y,
Georgia
................................................................................................................................................................................ ._
21322,3045674,14313322,367 1125 ,3 5 9
Athens,
"
............................................................................................................................................................................
1,55288,3313,37419,5761,04472,0211,94819,776
“
.........................................................................................................................................................................
3,269112,5243,81713,7511,07635,439 8697,739
A tlan ta,
Au gusta,
"
. _ ................................................................................................................................................................
3,905278,4516,56647,139 3,414299,447 3,97688,2 4 0
C olum bus,
"
................................................................................................................................................................. ..................
87345.98563022,51397663,434 1,24222,581
M acon,
“
............................................................................................................................................................. ......................
37152,6723,2866,31259153,909 33211,296
R om e,
”
-------------------------------------------------------------------------------------------------------------------------------1,39435,0136665,92658831,5571417,264
L ou isville,
K e n tu c k y , n e t ____________________________________________________________________________
2854,7583352501885,192138350
S h rev ep ort,
L o u is i a n a _______________________________________________________________________________
5,576156,6325,79722,6141,41578,4861,21327,836
1,55840,6651,6349,85482026,1141,3189,035
C olu m bu s,
M is s is s ip p i............................................................................................................................................
G reen ville,
“
1,54346,8452,97414,4401,67333,907 3,66711,806
G reen w ood ,
"
.......................................................................................................................................
2,50058,7892,00017,0001,39047,8701,39015,500
M eridian,
“
....................................................................................................................................
2,49271,1502,15118,67061949,487 36724,393
N atch ez,
"
................................................................................................................................
2,11660,0492,73513,9591,53236,594 1,31818,879
V icksbu rg,
“
. . ........................................................................................................................
3,83966,8783,58332,3571,96556,217 3,19424,375
Yazoo City,
“
. . . ....................................................................................................................
1,58844,4793,03613,2691,54344,2051,14016,940
St. L ouis,
M is s o u r i
41.136425,976 37,97231,07512,386272,83011,41840,9 3 4
R aleigh,
North C a ro lin a ....................................................................................................... 47912,5713701,33112010,073150594
C incinnati,
O h i o . ....................................................................................................................... ...................... .........................
5,54771,6466,5368,1085,92381,596 5,60112,893
G reen w ood,
South C a ro lin a -------------------------------------------------------------------------------68314,4036695,14415614,029_.5,390
32,343536,34028,852174,58720,101565,101 28,978134,718
M em phis,
T e n n e s s e e ...................................................................................................... .....
N ashville,
“
---------------------------------------------------------------------------------4268,102384539759,5336002,604
7414,591552,620757,759921,503
Hrenham ,
T e x a s _________________________________________________________ _______
Clarksville,
‘‘
-----------------------------------------------------------------------------------88736,1697723,6552009,4021171,049
Dallas
“
--------------------------------------------------------------------------------- ----------------3,52381,9382,9804,98273861,9031,1073,5 1 9
Honey G rove,
“
-----------------------------------------------------------------------------88430,0784032,2187515,40821 958
113,5722,015,729 123,25988,79435,0231,558,341 42,523 97,198
H ouston,
“
--------------------------------------------------------------------------- --P a r i s , .......................................................................................................................... .......
“
...... ........................
70482,470Oil3,85156 4
47,6126851,776

J a n .—
Range
Closing
F e b .—
Range
Closing
M arch—
Range
Closing
A p r il —
Range
Closing
M ay—
Range
Closing
J line—
Range
Closing
J u ly —
Range
Closing
A u gu st—
Range
Closing
S e p t.—
Range
Closing
Oct.—
Range
Closing
N o v .—
Range
Closing
D e c .—
Range
Closing




2,000
1905.
9 29 ,000
12,000
42,0 0 0

T o t a l C o n tin e n ta l s t o c k s ______

812 ,0 0 0
1,3 2 8 ,0 0 0
744,000
4 ,1 0 3 ,9 8 8 3 ,8 4 0 ,6 6 0 3 ,2 8 7 ,6 2 2

--------1 9 0 6 -0 7 -------J a n u a r y 11—
S in ce
S h ip p ed —
W eek .
S ept. 1.
V ia S t. L o u is .................................... . . 3 7 , 9 7 2
4 0 8 ,4 0 2
........ 8,1 6 4
120,933
V ia C a ir o ...........
29,3 4 0
V ia R o c k I s l a n d ......................... . . . . 3 ,2 9 0
V ia L o u is v i ll e ______________________ 1,649
41,9 2 7
V ia C in c in n a ti_____________________ 4,0 6 1
28,4 9 8
V ia o th e r r o u te s , & c _______________ 2 1 ,4 9 8
196 ,395

63,000
30,000
1906.
1907.
745 ,000 1 ,137,000
11,000
15,000
51,0 0 0
52,000

---------1 9 0 6 -0 7--------I n Sight and S p in n ers
S in ce
T a k in gs.
W eek .
S ep t. 1.
R e c e ip ts at p o r ts t o Jan . 1 1 ..................3 1 2 ,9 3 6 6 ,3 8 2 ,9 2 4
N et ov e rla n d t o Ja n . 1 1 ............... ......... 6 3 ,9 1 6
702 ,9 5 7
S o u t h e r n c o n s u m p t l o n t o J a n .i l ___ 4 7 ,0 0 0
8 9 3 ,0 0 0

T o t a l E a st I n d ia , A c ___________ 1 ,1 0 8 ,0 0 0
T o t a l A m e r i c a n ________________ 4 ,2 8 ] ,564

OVERLAND MOVEMENT FOR TH E W E E K AND
SINCE SEPT. 1.— We give below a statement showing
the overland movement for the week and since Sept. 1,
as made up from telegraphic reports Friday night. The
results for the week and since Sept. 1 in the last two years
are as follows:
J a n u a r y 11—
S t o c k a t L i v e r p o o l ______. b a l e s .
S to ck a t L on d on .
_______ ______
S t o c k a t M a n c h e s t e r ___ __ .

The foregoing shows the week’s net overland movement
has been 63,916 bales, against 28,118 bales for the week
last year, and that for the season to date the aggregate
net overland exhibits an increase over a year ago of 225,057
bales.

T o t a l A m erica n .
. ____ . .4 ,2 8 1 ,5 6 4 4 ,1 0 3 ,9 8 8 3 ,8 4 0 ,6 6 0 3 ,2 8 7 ,6 2 2
E a st In d ia n , B ra zil, & c .—
102,000
67,000
L iv e r p o o l s t o c k . _______ __ ________
138 ,000
79,000
11,000
12,000
15,000
1 2,000
L o n d o n s t o c k ____ _______ .
___
8,000
M a n ch ester s t o c k --------------------------11,000
8,0 0 0
1 1,000
39,0 0 0
44,0 0 0
C o n tin e n ta l s t o c k --------------------------21,0 0 0
28,0 0 0
78,000
141 ,000
97,000
In d ia a flo a t f o r E u r o p e . . ________
148,000
89,0 0 0
61,000
E g y p t , B razil, A c . , a f lo a t ________
68,000
58.000
200,000
S t o c k in A le x a n d r ia , E g y p t ______ 2 52 ,000
2 04 ,000
233 ,0 0 0
3 4 2 ,0 0 0
46 3 ,0 0 0
S t o c k in B o m b a y , I n d ia _________
226,000
726 ,000

The above totals show that the interior stocks have de­
creased during the week 17,940 bales, and are to-night
32,885 bales less than at the same period last year. The
receipts at all the towns have been 142,240 bales more than
the same week last year.
TH E VISIBLE SUPPLY OF COTTON to-night, as made
up by cable and telegraph, is as follows. Foreign stocks,
as well as the afloat, are this week’s returns, and conse­
quently all foreign figures are brought down to Thursday
evening. But to make the total the complete figures for
to-night (Friday), we add the item of exports from the
United States, including in it the exports of Friday only.

AT THE IN TERIOR S TOW NS the movement— that is,
the receipts for the week and since Sept. 1, the shipments
for the week and the stocks to-night, and the same items for
the corresponding^ period for the previous year— is set out
in detail below.
FU TURES.— The highest, lowest and closing prices at
New York the past week have been as follows:

.
l x x x iy

[V ol.

THE CHRONICLE.

110

111

THE CHRONICLE

J a n . 12 1907.J

The thermometer has averaged 62, the highest being 75
and the lowest 48.
Selma, Alabama.— We have had no rain the past week.
The thermometer has averaged 56, ranging from 36 to 69.
M adison, Florida.— We have had no rain during the week.
The thermometer has ranged from 49 to 89. averaging 66.
C lo sin g Q uotations fo r M id d lin g C otton on
W eek en d in g
Augusta, Georgia.— Cotton being sold here rapidly. De­
J a n . 11.
S a t’ day- M o n d a y . Tuesday, W ed'd ay- T h u rsd 'y. F rid a y mand is heavy. There has been rain on one day of the week,
G a lv e s to n ______ 10 11-16 10 11-16 10 H
10 H
10%
10 H
the precipitation reaching thirteen hundredths of an inch.
10 9-16
10%
N ew O rleans _
10^
10 9-16
10 9-16
10%
Average thermometer 60, highest 75 and lowest 37.
10%
M o b i l e _________ 1 0 %
10 %
10%
10 ^
10%
10 9-16
10 9-16
10 9-16
S a v a n n a h ______ 10 7-16
10 9-16
10 9-16
Savannah, Georgia.— There has been no rain during the
10
10
10
C h a r le s t o n ..
9%
10
week.
The thermometer has averaged 65, the highest being
10^
10%
10 3-16
10%
W ilm in g t o n ____ 10
10 %
10%
10%
10%
10 %
N o r fo lk . . . . i o %
10%
79 and the lowest 53.
10.80
10.85
10 90
B o s t o n ________ 10.75
10.85
10.85
Stateburg, South Carolina.— There has been light rain on
10%
10%
10%
10%
B a ltim o re 10 H
10H
11.05
11.10
11.05
11.15
P h ila d e lp h ia ___ 11.10
11.10
one day of the past week, the rainfall reaching seven hun­
11%
A u g u s t a ____
11%
11%
11 %
11%
11%
dredths of an inch. Colder and very cloudy now with more
10 9-16
10 9-16
10 9-16
10 9-16
10 9-16
M em p h is . . . .
10 9-16
10%
10 11-16]
S t. L o u i s _______ 1 0 %
10 11-16 10 11-16 1 0 %
rain threatened. The thermometer has averaged 63, ranging
H o u s t o n _______ 10 9-16
10 9-16
10%
10 11-16 10 H
10 H
from 43 to 76.
10 1-16
L ittle R o c k ____ O H
10 1-16
OH
0%
9%
Greenwood, South Carolina.— There has been rain on one
day of the past week, and the rainfall has been four hun­
N E W ORLEANS OPTION M A R K E T .— The highest, dredths of an inch. The thermometer has ranged from 46.
lowest and closing quotations for leading options in the New to 67, averaging 56.
Orleans cotton market for the past week have been as follows:
Charlotte, North Carolina.— We have had rain on one day
during the week, to the extent of three hundredths of an inch.
Sa t'd ay, M onday, Tuesday, W ed ’ day, Thursd'y, F r id a y ,
The thermometer has ranged from 37 to 74, averaging 55.
J a n . 5.
J a n . 9. J a n . 10. J a n . 11.
J a n . 7.
J a n . 8.
The following statement we have also received by tele­
J a n u ary—
graph, showing the height of rivers at the ports named
R a n g e . . ___ 1 0 .2 7 -.4 3 1 0 .3 5 -.4 6
10.27-.51 1 0 .3 7 -.4 8 1 0 .3 2 -.4 6
at 8 a. m. of the dates given:
C lo sin g _______ 10.40-.4 1 1 0 .3 4 -.3 5
1 0 .4 9 -.5 0 1 0 .3 5 -.3 6 1 0 .4 5 -.4 6

QUOTATIONS FOR MIDDLING COTTON AT OTHER
M ARKETS.— Below are the closing quotations of middling
cotton at Southern and other principal cotton markets for
each day of the week:

M arch—
Range
.
C l o s i n g ______
M ay—
Range . _
C l o s i n g .. . .
J u ly —
Range . .
C losing ______
October—
R a n g e _______
C lo sin g _______
T on e—
S p o t ___ __ .
O p tio n s ____

1 0 .3 5 -.5 0 1 0 .4 0 -.5 3
1 0 .4 8 -.4 9 10.4Q -.41
10.46-.6 1 10.50-.6 2
10.5 8 -.5 9 10.51 —
— @ — 1 0.6 6 -.7 3
10.7 2 -.7 3 10.6 2 -.6 3
—
—
S te a d y .
S te a d y .

H
O
L
I
D
A
Y

1 0 .4 2 -.6 4 1 0 .4 6 -.6 2 1 0 .4 1 -.5 6
10.6 2 -.6 3 1 0 .4 6 -.4 7 1 0 .5 4 -.5 5
1 0 .5 0 -.7 3 1 0 .5 6 -.6 9 1 0 .4 9 -.6 2
10.6 9 -.7 0 10.57 — 1 0 .6 1 -.6 2
—
—

@ —
@ —

V ’r y s t ’y
S te a d y .

1 0 .3 2 -.5 5 1 0 .3 7 -.5 3 1 0 .3 2 -.4 6
1 0.53-.5 4 1 0 .3 7 -.3 8 1 0 .4 5 -.4 6

S te a d y .

@ — —
@ —

F irm .
S te a d y .

©

—

E asier.
Q u ie t.

9 .8 5
9 .8 8

—
—

S te a d y .
S te a d y .

W E A TH E R REPORTS BY T E L E G R A P H — Our tele­
graphic advices from the South this evening denote that the
weather has been, favorable on the whole during the week.
Where rain has fallen the precipitation has been very light
as a rule and temperature has been higher. The crop is
moving on a free scale and in West and Northwest Texas
picking is still in progress.
Galveston, T exas.— Picking still continues in west and
northwest Texas. We have had light rain on one day during
the week, the rainfall reaching two hundredths of an inch.
The thermometer has averaged 64, ranging from 58 to 70.
Abilene, Texas.— We have had rain on three days during
the week, to the extent of one inch and five hundredths.
The thermometer has ranged from 36 to 74, averaging 55.
Corpus Christi, Texas.— It has rained on one day of the
week, the rainfall being one hundredth of an inch. Average
thermometer 64, highest 74, lowest 54.
Fort Worth, T exas.— We have had only a trace of rain on
three days during the week. The thermometer has aver­
aged 68, the highest being 76 and the lowest 44.
Palestine, Texas.— We have had no rain the past week.
The thermometer has averaged 58, ranging from 40 to 76.
San Antonio, Texas.— We have had rain on two days
during the week, the rainfall being twenty-six hundredths
of an inch. The thermometer has ranged from 54 to 78,
averaging 66.
Taylor, Texas.— We have had rain on one day of the week,
the rainfall being two hundredths of an inch. 'Average ther­
mometer 61, highest 78 and lowest 44.
New Orleans, Louisiana.— We have had rain on one day of
the week, the precipitation being nineteen hundredths of an
inch. The thermometer has averaged 68.
Shreveport, Louisiana.— We have had rain on one day of
the week, to the extent of nine hundredths of an inch. The
thermometer has averaged 55, ranging from 34 to 76.
Vicksburg, M ississippi.— We have had only a trace of rain
during the week. The thermometer has averaged 62, the
highest being 77 and the lowest 43.
Helena, Arkansas.— There has been light rain on three
days the past week, the rainfall reaching thirty-seven hun­
dredths of an inch. The thermometer has averaged 51.5,
ranging from 33 to 73.
M em phis, 7'ennessee.— We have had rain on two days
during the past week, the rainfall being thirty-eight hun­
dredths of an inch. Average thermometer 53.7, highest 72.1,
lowest 33.3.
Nashville, Tenn.— There is a good demand for best class
of all grades, but offerings are light. We have had rain dur­
ing the week, the rainfall being thirty-five hundredths of
an inch. The thermometer has averaged 51, the highest
being 71 and the lowest 31.
M obile, Alabama.— Fair weather with occasional showers
in the interior. Cotton movement continues liberal. We
have had rain on three days of the week, to the extent of
three hundredths of an inch. The thermometer has aver­
aged 64, ranging from 55 to 74.
M ontgom ery, Alabama.— There has been rain on two days
of the week, the rainfall being six hundredths of an inch,




N e w O r le a n s ___________ A b o v e
M e m p h i s _______________ A b o v e
N a s h v ille -----------------------A b o v e
S h r e v e p o rt_____________ A b o v e
V i c k s b u r g _____________ A b o v e

z e ro
z e ro
z ero
z ero
zero

of
of
of
of
of

gauge.
gauge.
gauge.
gauge.
gauge.

J a n . 11 1007.
F e e t.
15.1
32.1
16 .3
16.5
38.6

J a n . 12 1906
F e e t.
11.1
23.1
16.6
19.0
28-6

IN DIA COTTON MOVEMENT FROM ALL PORTS.—
The receipts of cotton at Bombay and the shipments from all
India ports for the week and for the season from Sept. 1 for
three years have been as follows:

W eek .
B o m b a y ..

190 5 -0 6 .

190 6-07.

J a n u a r y 10.
lie c e lp ts at—
________

84,000

S in ce
S ep t. 1.

190 4 -0 5 .

S in ce
S ep t. 1.

W eek .

7 6 8 ,0 0 0 113,000

8 84 ,000

W eek .

S in ce
S ep t. 1.

5 8 ,000

6 4 6 ,0 0 0

S in c e S eptem ber 1.

F o r the w eek.
E x p o rts fro m —

C o n ti­
n ent.

T otal.

11,000
22,000
7,000

313 ,0 0 0
234 ,0 0 0
75,000

324 ,0 0 0
2 5 6 ,0 0 0
8 2 ,000

1,000
2,000

2,000
2,000

18,000
15,000
9,000

2 0 ,0 0 0
17,000
9 ,0 0 0

1,000
2,000
2,0 0 0

1,000
2,000
2,000

1 ,000
1,000
2,000

8,0 0 0
19,000
12,000

9 ,0 0 0
2 0 ,000
14,000

1,000
1,000
1,000

3,000
-------

1,000
4,000
1,000

5,0 0 0
6,000
3,0 0 0

4 4 ,0 0 0
50,0 0 0
39,000

4 9 ,0 0 0
5 6 ,0 0 0
4 2 ,0 0 0

2,000
7,000
1,000

42,0 0 0
29,0 0 0
9 ,0 0 0

44,000
3 6 ,000
10,000

19,000
31,0 0 0
12,000

383 ,0 0 0
3 18 ,000
135 ,000

4 0 2 ,0 0 0
3 49 ,0 0 0
147 ,000

Great
B ritain.
B om bay—
1 9 0 6 -0 7 ____
19 0 5 -0 6 ____
1 9 0 4 -0 5_______ ...
C a lc u tta —
1 9 0 6 -0 7 ._ _____
1905-06 _________
1904-05 _________
M adras—
1 9 0 6 -0 7 _________
1 9 0 5 -0 6 ___________
1 9 0 4 -0 5 ___________
A ll o th e r s —
1 9 0 6 -0 7 ___________
1 0 0 5 -0 6 ___________
T o t a l a ll—
1 9 0 6 -0 7 .. _______
1 9 0 5 -0 6 _______ . .
1 9 0 4 -0 5 ______. . .

1,000
6,000

C o n ti­
nent.

Total.

40,0 0 0
22,000
7,000

4 1 ,0 0 0
28,000
7,000

1,000
2,0 0 0

Great
B rita in .

According to the foregoing, Bombay appears. to show a
decrease compared with last year in the week’s receipts of
29.000 bales. Exports from all India ports record a gain of
8.000 bales during the week and since Sept. 1 show an
increase of 53,000 bales.
N EW Y O R K QUOTATIONS FOR 32 YE A R S.
The quotations for middling upland at New York on
Jan. 11 for each of the past 32 years have been as follows:
1 9 0 7 .c ____
1 90 6 _______
1 9 0 5 ____
1 90 4 _______

.1 0 .8 0 1 1 8 9 9
.1 1 .8 0 1898
- 7.15 1897
-1 3 .9 5 1896
1895
1 9 0 2 _______ - 8.25 1894
1 9 0 1 ______ .1 0 .1 8 1893
1 9 0 0 ........... . 7.62 1892

- c ______ 9.371 1 8 8 3 .C _____ - 1 0 .1 9
' ________ 10.50 1 8 8 2 .. . . . .1 2 .0 0
I-------------9.8S 1 1 8 8 1 _______ .1 2 .0 0
.-------------1 0 .4 4 ! 1 8 8 0 ____ - 12.81
’ ________ 9.501 1 8 7 9 _______ . 9.25
i________ 9 .2 5 11 8 7 8 - . . - .1 1 .3 7
i ________ 11.121 1 8 7 7 _______ -1 3 .0 0
____ .1 3 .1 9
1________ 10.621 1876

M ARKET AND SALES AT N E W Y O R K .
The total sales of cotton on the spot each day during the
week at New York are indicated in the following statement.
For the convenience of the reader we also add columns which
show at a glance how the market for spot and futures closed
on same days.
S p o t M a rk et
C losed.
S a t u r d a y ..
M o n d a y ___
T u esd a y _.
W ednesday
T h u rsd a y .
F r i d a y ____

F u tu res
M arket
Closed.

S te a d y 10 p ts . a d v . V e r y s t e a d y .
S t e a d y ----------S t e a d y ----------F irm 5 p ts. a d v .
V ery stea d y .
S te a d y 10 p ts . d e c .
B a re ly s te a d y
S te a d y ------------------- S t e a d y -----------

Sales o f S p o t and C on tract.
C on C on­
E x p o rt su m ’ n. tract.

....

....

3,566

3',500
50

l '. I o o

1,19 5

4,6 0 0

4 ,7 9 5

50
” 95
95

50

Total.

112

THE CHRONICLE.

W O R L D ’S SUPPLY AND TAKIN GS OF COTTON.The following brief but comprehensive statement indicates
at a glance the world’s supply of cotton for the week and
since Sept. 1, for the last two seasons, from all sources from
which statistics are obtainable; also the takings, or amount
gone out of sight, for the like periods:
C o tto n T a k in g s .
W eek ana season .

190 6-0 7.
W eek .

V isib le s u p p ly Ja n . 4 ____________ 5 ,2 2 4 ,5 7 7
V isib le s u p p ly S e p t. 1 ___________
A m e r ic a n in sight t o Ja n . 1 1 ____
4 05 ,912
B o m b a y receip ts t o Jan. 1 0 ____
84,000
O th er In d ia sh ip ’ts t o Jan . 1 0 . .
.3,000
A le x a n d r ia r eceip ts to Ja n . 9 ___ ’ 4 5 ,0 0 0
O th er s u p p ly t o Jan . 9 a ___ __
6,000

D ed uct—
V i s i b l e s u p p i y J a n . i l ___
T o t a l ta k in g s t o Jan . 11 ------O f w h ic h A m e r ic a n .
. ------O f w h ic h o t h e r ______
____

S ea so n .

1905-06.
Tr eek.

S eason .

Quantities of Manufactures of M onth ending N ov. 30.
Colton (colored and uncolored)
Exported to—
1905.
1906.

2 ,5 4 5 ,4 7 0
7 ,3 1 3 ,4 2 8
884 .0 0 0
93,000
543 .0 0 0
210 .0 0 0

Other Europe___________________
British North A m erica...................
Central American States and
British Honduras_____________
M exico --------------------------------------

5 ,7 6 8 ,4 8 9 1 2 ,0 8 3 ,6 2 5 5,7 4 6 ,0 9 2 11,5 8 8 ,8 9 8

Other W est Indies and Berm uda.

5 ,3 8 9 ,5 6 4

Chile...............................- .......... ........
Colombia ..........................................
Ven ezuela________ ______________
Other South Am erica____________
Chinese E m p ir e _________________
British East Indies______________
H on gkon g__________ ______ —
J a p a n .. . ____________________
British Australasia______________
Philippine Isla n d s______________
Other Asia and O ceania__________

378 .9 2 5
2 9 1 .9 2 5
87,0 0 0

21 6 '1 3 2
113,000
8,000
33,300
10,000

5,3 8 9 ,5 6 4 5 ,4 3 1 ,9 8 8

5 ,4 3 1 ,9 8 8

6 .694.061
5.1 9 5 .0 6 1
1 ,4 9 9 ,0 0 0

6 .1 5 6 .9 1 0
4 .8 4 7 .9 1 0
1 ,3 0 9 ,0 0 0

3 14 ,104
252 ,804
6 1,300

a E m b r a c e s r e c e ip ts in E u ro p e fr o m B r a z il, S m y r n a , W e s t In d ie s , & c.

CENSUS B U R E A U ’S REPORT ON COTTON GINNING.
— The Division of Manufactures in the Census Bureau com­
pleted and issued on Jan. 9 the eighth of its series of reports
on cotton ginning the present season as follows:
“ I h a v e th e h o n o r t o m a k e th e fo llo w in g r e p o r t b y S tates a n d T e r r ito r ie s
o f th e q u a n tity o f c o t t o n g in n e d fro m th e g r o w t h o f 1906 t o Jan . 1, a c c o m ­
p an ied b y c o m p a r a tiv e s ta tis tics o f th e c o t t o n g in n e d t o th e c o r re s p o n d in g
d a te in 1905.
C ou n tin g
Stale
State
A c tiv e
A c tiv e
C ou n tin g
or
or
G in ­
Iiou nd as
G in ­
H ound as
T e rritory. Y ea r. n eries. H a lf B a les. T errito ry . Y ear. neries. H a lf B a les.
1906 2 8 ,399
1 1 ,7 5 0 ,9 4 4 Miss
1906
U. S
3,727
1 ,28S,697
1905 28,853
1905
9 ,7 2 5 ,4 2 6
3,846
1 ,0 3 3 ,7 9 4
A la b a m a 1906
3,6 2 8
1 ,1 9 9 ,7 4 0 M is s o u r i. . 1906
79
38,441
1905
3,721
1,1 7 6 ,6 0 8
1905
77
35,427
A rk a n sas .1906
2,299
732,201 N o . Car . 1906
2,7 5 3
572,143
1905
2,284
5 10 ,599
1905
2 ,809
629 ,344
381
F lo r id a ___ 1906
273
59,030 O kl a ____ 1906
349 ,677
1905
1905
290
72,889
323
2 79 ,353
G eorg ia . . 1906
4,551
3.128
1,572,701 S o . C a r ___ 1906
8 68 ,328
1905
1905
3,158
1 ,0 7 5 ,9 3 6
4 ,7 6 2
1 ,6 7 0 ,4 6 0
I n d . T e r _ . 1906
695
536
2 42 .419
3 50 ,383 T e n n e sse e 1906
1905
723
523
2 96 ,723
1905
2 40 ,565
K e n t u c k y 1906
3
1,362 T e x a s ___ 1906
4,1 8 2
3 ,6 2 6 ,2 0 0
1905
3
1,218
1905
4,152
2 ,2 3 1 ,6 8 9
L ou isia n a -1906
2,0 4 6
8 36 ,646 V irg in ia . 1906
118
12,907
1905
2,061
456 ,339
1905
121
14,476
“ T h e sta tistics fo r this r e p o r t in clu d e 2 55 ,592 ro u n d bales fo r 1906 a n d
263,581 fo r 1905. T h e n u m b e r o f Sea Isla n d bales in clu d e d is 5 4 ,1 6 8 fo r
1906 a n d 98,9 4 2 fo r 1905. T h e Sea Isla n d c o t to n fo r 1906, d is t r ib u t e d
b y S ta te s , is: F lo r id a , 2 3 ,1 4 4 ; G e o rg ia , 2 3 ,5 9 6 ; S o u th C a ro lin a , 7 ,4 2 8 .
T h ere w ere g in n ed 1 1 ,1 1 3 ,5 8 9 bales t o D e ce m b e r 13 1906.

l x x x iy

,

DOMESTIC EXPORTS OF COTTON MANUFACTURES.
— We give below a statement showing the exports of domes­
tic cotton manufactures for November and for the eleven
months ended November 30 1906 and for purposes of com­
parison like figures for the corresponding periods of the pre­
vious year are also presented:

United K in g d o m .. _______ yards

5 ,3 6 5 ,6 6 0
1 ,7 8 4 ,1 5 6
8 ,5 7 8 ,4 6 9
7 6 8 .0 0 0
78,000
691 .000
184 .0 0 0

[V ol.

241,523
20,912
61,603
512,691

422,888
1,200
100,738
550,370

11 mos. ending N ov. 30.
1906.

1905.

2,650,201
358,264
1,529,539
8.502,668

3,026,5S1
162,327
1,876,839
8,819,408

All other A frica__________________

3,111,740
233,644
1,280,539
3,523,266
297,265
725,883
1,160,136
1,410,883
644,614
1,152,600
7,367,251
1,276,610
22,621
20,907
281,329
1,281,587
5,590,031
1,312,055
75,813

2,211,177 26,940,168 25,753,314
2,201,470
275,705
3,318,225
1,080,096 15,421,781 23,126,771
3,294,745 32.245,232 26,983,563
2,123,265
433,694
3,485,413
6,479,178
445,663
8,944,286
570,034 11,S21,130 12,983,909
764,576 14,858,641
8,870,196
6,559,295
6,783,361
591,117
6,478,416
7,410,673
627,741
52,705,432 267,904,275 514,206,723
7,297,492
9,410,658
1,691,937
499,101
453,029
4,761
785,168 10,423,182
132,907
7,295,549
7,110,309
669,259
9,877,416
348,627 10,760,895
1,400,855 42,560,315 20,688,945
8,501,332
6,459,274
594,831
565,163
1,045,936
62,115
800

Total yards of above_______ Total values of a b o v e _________
Value per yard________________

31,605.503
S2,029,496
S.0642

68,980,4681484 ,S29,111 720,739,565
S I,275,074 830,447,294 543,458,653
$.0620
S.0603
S.0627

Value of Other Manufactures of
Cotton Exported to—
United K in g d o m _______________
F ra n ce ______ ____________________
G erm any. _____ ________________
N eth erlands______________
___
Other E u ro p e ___________________
British North Am erica___________
Central American States and
British Honduras_____________
M e x i c o __________ ___________
C u b a . ______
________________
Other W est Indies and Berm uda.
A rgen tin a_______________________
Brazil___________________________
Chile____________________________
V en ezuela..... ....................................
Other South A m erica____________
Chinese E m p ir e _____ ___________
British East Indies______________
British Australasia______________
Philippine Islands _____________
Other Asia and O cea n ia .................
British A fr ic a _______ ___________
All other Africa__________________
Other countries-........................ ..

110,212
13,0 45
4,396
135,643
4,667
15,073
169,417

139,037
34,821
870
69,696
264
4,645
166,365

1.855,214
159,357
55,618
1,047,553
73,341
131,485
2,524,559

1,024,2S9
192,027
36,109
559,780
31,638
80,775
2,273,280

77,236
42,791
76,203
28,627
9,301
5,473
5,335
2,719
1,579
7,789
22,067
882
24,458
84,626
49,779
4.77S
8,879
622
94

59.S40
44,156
33.20S
20,530
23,025
2,079
1,633
5,327
2,657
3,303
19,709
1,606
12,873
58,076
8,561
10,531
17,113
490
696

668,697
513,092
484,130
256,414
212,397
49,712
31,326
30,244
25,228
65,405
189.606
9,314
82,626
514,544
369,604
225,924
216,508
10,519
6,104

600,380
5S3.010
383,914
225,638
307,589
58,200
19,362
43,684
22.120
48,466
311,672
8,364
104,699
435,708
84,472
249,461
248,122
14,089
5.S99

N E W YO R K COTTON E X C H A N G E .— Death of Emanuel
Lehman.— Mr. Emanuel Lehman, senior member of the firm
of Lehman Bros., cotton commission merchants, died on
Total value other manufactures
S740.511 S9.808,521 S7,952,747
$905,691
Thursday in his eightieth year, at his home, 16 East 46th St.
Total value of all manufactures S2,935,187 35,015,585 S40,255,815 S51,411,400
Mr. Lehman came to the United States in 1848 and started in
business at Montgomery, Ala., with his brother Mayer.
A L E X A N D R IA RECEIPTS AND SHIPMENTS OF
After the war they came to New York and organized the
firm of Lehman Bros., which for some years has been one COTTON.— Through arrangements' made with Messrs.
of the most prominent houses in the cotton trade. Mr. Choremi, Benachi & Co., of Liverpool and Alexandria, we
Lehman’s outside interests were large, his name being in­ receive a wreekly cable of the movements of cotton at
cluded in the directorate of many financial and industrial Alexandria, Egypt. The following are the receipts and
shipments for the past week and for the corresponding week
corporations.
of the previous two years:
DEATH OF THE HONORABLE SAMUEL SM ITH .—
Messrs. Henry Hentz & Co. received a cablegram on Dec. 31
A le x a n d r ia , E j y p t ,
190 5-0 6.
190 6-0 7.
■ J a n u a ry 9.
190 4-0 5.
from Messrs. Smith, Edwards & Co. of Liverpool, reporting
the death of their senior partner, Right Honorable Samuel R eceip ts (ca n ta rs u) —
3 40 ,000
250 ,0 0 0
T h is w e e k _____________
175,000
Smith, who died very suddenly on the night of the 28th inst.
5,183,881
4 ,0 7 2 ,2 5 0
S in ce S e p t. 1 ___ - ______
3 ,7 9 3 ,1 4 5
at Calcutta. Mr. Smith served more than twenty years in
Parliament and retired a few years ago on account of ill health.
It was not expected that he would be able to take up his
S in ce
This
Tills
S in ce
This
S in ce
w eek. S ep t. 1. w eek. S ept. 1. w eek. S ept. 1.
active public work again. A critical surgical operation was E x p o rts (b a le s)—
successfully performed, however, and his health was restored.
5,250 132,186
T o L iv e r p o o l_____________
5.2 5 0 119,546
4,5 0 0 116,557
6.250 80,9431 . 5 ,2 5 0 6 7 ,7 6 3
T o M an ch ester _ . ______ 9,000 111,660
He was recently appointed by King Edward a member of
16,000 166,404 17,000 146,9001 15,500 141 ,867
T o C o n t i n e n t ________
his Privy Council. Mr. Smith was a philanthropist in every
51 ,278
3,000 36 ,742 j 6,000 31,629
sense of the word. His death will- be greatly mourned
T o t a l e x p o r ts ________ 35.500 461 ,528 3 1,500 3 8 4 ,1 3 1 1 31,250 3 57 ,816
throughout Great Britain, and India, too, as he was a warm
friend of the latter country, striving always to better its
a A c a n ta r is 98 lb s.
condition, and his recent visit to India was for that purpose.
This statement shows that the receipts for the week were
He was the senior, but not active, member of the well-known 340,000 cantars and the foreign shipments 35,500 bales.
cotton house of Messrs. Smith, Edwards & Co. of Liverpool.
He gave very little attention to business after he became a
MANCHESTER M A R K E T .— Our report received by
member of Parliament. He established the house in 1862
or 1863, after his return from a visit to India, where he in­ cable to-night from Manchester states that the market
vestigated the question of cotton culture. His various let­ is firm for both yarns and shirtings. Demand for both
ters to the “ Liverpool Post” on that subject, written in In­ India and China is good. We give the prices for to-day
dia and signed “ Mercator,” attracted world-wide attention below and leave those for previous weeks of this and
last year for comparison:
in the cotton trade, and his monthly circulars regarding cot­
ton up to the time when he was returned to Parliament were
1905-06.
1906-07.
greatly in demand by the cotton trade, which looked upon
him as an authority. Mr. Smith was born in the year 1836
lbs. Shirt­ Corn
8M lbs. Shirt- Cot’n
ings. common M id
32s Cop
32* Cop
ings, common M id
in Kirkcudbright, Scotland. He survived his wife and chil­
to
finest.
Twist.
Twist.
U pl’s
to finest.
Upl's
dren. His brother, Mr. James Smith, and the latter’s son,
d. s. d .
s. d.
d. s. d.
with Mr. Herbert Bickersteth, are the remaining members N ov d.
d.
s. d.
d. d.
9 'A 6 5 ©9 5
30 10 H
@ 11
6.19 9
@
6.16
6 8 @ 9 10
of the firm of Smith, Edwards & Co.
D ec.
JUTE BUTTS, BAGGING, ETC.— The market for jute
bagging has been inactive during the week under review at
the following prices: 8 % c . for 1% lbs. and 93/gc. for 2 lbs.,
standard grades. Jute butts very dull at 3@ 4 c . for bagging
quality.




7
14
21
28
Jan.
4
11

10 1-16®
9%
@
9 15-16®
93
A
@

11
10'K
u rn
10J$

VK
@
9 13-16®

10?* 6
im 6

6
6
6
6

9 3-16 © 9 15 -16 6
9H 6
9
@
9 ‘A 6
9H
©
9 y» 6
8 15-16©

7 H ® 9 10
6 ®9 9
5 ©9 8
5 @9 8

5.96
5.79
5.69
5.70

5
6

5.87 8 15-16®
5.96 8 H
®

@9
@9

8
9

9 V, 6
9* 6

•

6
5
5H
5

©9
©9
©9
©9

6
fi
4'A

6.42
6.29
6.31
6.24

5
5

©9
@9

4H
4H

6.23
6.09

113

THE CHRONICLE.

J a n . 12 1907 J

SHIPPING N E W S.— As shown on a previous page, the
exports of cotton from the United States the past week have
reached 247,769 bales. The shipments in detail, as made up
from mail and telegraphic returns, are as follows: *
Total bales.
N E W Y O R K — T o L iv e r p o o l— Jan . 8— V ic t o r ia n , 1 ,6 5 6 ____________
1,656
T o L o n d o n — Jan . 5— -M esaba, 8 1 4 ------------------------------------------------814
T o H a v re — Jan . 5— S t. L a u ren t, 1,150 u p la n d , 129 Sea Is la n d 1,279
T o B rem en — Jan . 4— M ain, 8 0 9 ----------------------------------------------------809
T o A n tw e r p — Jan . 8— M olia w li, 433; V a d e rla n d , 1 2 7 ____ Jan.
10— T o r o n t o , 7 4 7 ________________________________________________
1,307
T o G en oa — Jan . 10— H a m b u r g , 5 7 0 _____________________________
570
T o N ap les— Jan . 4— C e d ric, 2 5 0 ___________________________________
250
T o V en ice— Jan . 3— G iu lia, 8 9 7 ____ J an . 4— F r a n ce s c a , 7 3 ___
970
T o F lu m e— Jan . 3— G iu lia. 4 0 0 ___________________________________
400
N E W O R L E A N S — T o L iv e r p o o l—-Jan. 5— P o litic ia n , 1 6 ,1 4 0 ____
Jan . 8— C ou n sellor, 1 1 ,2 7 2 ____ J an . 9— C h a n ce llo r, 11,000
____ Jan . 10— C estrian , 1 9 ,3 9 9 __________________________________
57,811
T o L o n d o n — Jan. 5— M ain e, 2 0 0 _________________________________
200
T o M an ch ester— Jan . 8— M an ch ester I n v e n to r , 1 0 ,5 0 0 ________ 10,5 0 0
T o B elfast— Jan . 11— R a tlilln H e a d , 6 ,0 0 0 ______________________
6,000
T o H a v r e — Ja n . 5— M ain e, 1 0 ,0 2 4 ________________________________
10,024
1,756
T o O p o r to — Jan. 7— M iguel M . P in illo s, 1 ,7 5 6 _______ -._________
T o B a rce lo n a — Jan . 7— M ig uel M . P in illo s , 2 ,8 8 5 _______________
2,8S5
T o G en oa — Jan . 7— R e g in a E le n a , 5 ,1 5 0 ____________________ ____
5,1 5 0
G A L V E S T O N — T o L iv e r p o o l— Jan . 5— D o m in ic , 6 ,4 4 3 ____ Jan . 8
— Ira d a , 2 0 ,5 0 6 -------Jan . 10— C a sta n o , 1 2 , 1 9 2 ________________ 39,1 4 1
T o M an ch ester— Ja n . 3— N essfield , 9 ,7 8 1 ________________ _______
9,781
133
T o B elfast— Jan . 4— C arrigan H e a d , 1 3 3 ________________________
T o G la sgow — Jan . 4— C a rrigan H e a d , 5 6 0 ----------------------------------560
T o H a v re— Jan . 5— M a tte a w a n , 9 ,8 2 0 ____ Ja n . 8— A n g o la ,
2 2 ,0 4 4
12,224 ________________________ ______ ______________________________
T o R e v a l— Ja n . 4— Carrigan H e a d , 5 ,3 5 1 ________________________
5,351
T o R ig a — Jan . 4— C arrigan H e a d , 7 0 4 ___________________________
704
T o A n tw e r p — Jan . 4— C o r b y C a stle, 1 ,5 6 1 -------J a n . 10— T lierap la , 2 ,6 4 1 _________________ _______________________________________
4 ,2 0 2
M O B I L E — T o B rem en — Jan . 4— H o p e m o u n t, 9 ,5 9 6 ________________
9 ,5 9 6
2,222
S A V A N N A H — T o L iv e r p o o l— Jan . 8— C a s tle v e n tr y , 2 ,2 2 2 ________
T o M an ch ester— Jan . 8— C a s tle v e n tr y , 3,5 0 2 u o la n d , 1,182
S ea I s la n d _________________ ________________________________________
4,6 8 4
T o B rem en — J a n . 9— C o rin th ia , 6 ,7 9 7 ____ Ja n . 10— H a n sa ,
7 ,2 7 4 _________________ ____________________________________________ 1 4,071
T o C h ristia n a— Jan . 9— C o r in th ia , 1 0 0 ----------------------------------------100
T o B ergen — Jan . 9— C orin th ia , 1 5 0 _______________________________
150
T o R e v a l— Jan . 9— C orin th ia , 1 , 0 0 0 . ___Jan. 10— H a n sa , 10 0 1,1 0 0
B R U N S W I C K — T o L iv e r p o o l— Jan . 5— E a s tr y , 5 8 0 ___ _________ ____
580
T o M anch ester— Jan . 5— E a s tr y , 5 ,0 9 2 ------------------ -- ----------------5,0 9 2
W I L M I N G T O N — T o L iv e r p o o l— Jan . s — P e tu n ia , 5 .4 2 3 ___________
5,423
B O S T O N — T o L iv e r p o o l— Jan . 5— M ich ig a n , 3 0 0 -------Ja n . 9— W ln ifre d ia n , 2 ,3 8 5 _____________________________________________________
2 ,6 8 5
T o M an ch ester— Jan . 4-— B o sto n ia n , 249 ________________________
249
T o Y a r m o u th — Jan . 6— B o s t o n , 1 1 0 _____________________________
110
B A L T I M O R E — T o L iv e r p o o l— Jan . 4— U ls te rm o re , 2 ,3 7 0 _________
2,370
P H I L A D E L P H I A — T o L iv e r p o o l— Jan . 4— N o o rd la n d , 1 ,2 2 1 ____
1,221
T o M a n ch ester— Jan . 4— M a n ch ester C o m m e r c e , 4 0 0 ___________
400
T o A n tw e r p — D e c . 20— M a rq u e tte , 1 3 9 --------------------------------------139
S A N F R A N C IS C O — T o J a p a n — Jan . 9 — D o ric , 3 ,0 0 0 _______________
3,0 0 0
S E A T T L E — T o J a p a n — Jan . 9— M in n esota , 1 0 ,025; T o s a M aru , 255 10,280

The prices of futures at Liverpool for each day are given
below. Prices are on the basis of Uplands, Good Ordinary
clause, unless otherwise stated.
The p rices are given in p en ce and 100ths.
Jan . 5
J an . 11.

Sat.
12%
p .m .

d.
Ja n u a ry .
J a n .-F e b .
F e b .-M ch .
M c h .-A p r. __
A p r .-M a y
M a y -J u n e
J u n e -J u ly
J u ly -A u g _
A u g -S e p .S e p .-O c t
O c t .-N o v
N o v .-D e e . -------

12 %
p .m .
5
o
5
5
5
5
t>
5
0
5'
0
5

d.
59
58
54
54
54%
54 %
54
48 %
42 %
38
38

M on.

Th us: 5 59 m ean s 5 5 9 -1 0 0 d .
W ed.

T u es.

T h u rs.

Fri

4
4
12%
4
12%
4
4
12%
12%
12%
p.m . p .m . p.m . p .m . p .m . p.m . p .m . p .m . p .m . p.m .
d.
67%
66 %
64 %
63 %
63 %
63%
63
62 %
56%
50
45
44%

d.
63
62
60
58%
58 %
58 %
58
57%
51
45
40%
40

d.
59%
58 %
56
54 %
54
53%
52 %
50 %
44%
39
33%
33

d.
63%
62 %
60
5 8 '4
57 %
57 %
57
55 %
49%
44
38%
37%

d.
64
63
60
58%
57%
56%
55 %
53 %
47%
41 %
36 %
35%

d.
59
58%
56 %
54%
54
53 %
53
51 %
40
38 %
33%
33

d.
64%
64
62
61
60 %
60 %
60
58%
53
44%
39 %
39

d.
64%
64
62
61
60%
60
59 %
58
52
4b %
40
39%

d.
57%
57
55%
54 %
54
54
53
52
46
40
34%
34

d.
60%
60
58%
57
56%
56%
55%
54%
48
41
35%
35

BREADSTUFFS.
Friday, Jan. 11 1907.

Prices for wheat flour have ruled steady, with the trading
limited in the main to jobbers. Small sales for shipment to
the West Indies have been reported of late, but as a rule
exporters are still out of the market. The local trade has
fallen to such small proportions that city mills are supplying
the bulk of the demand. Buyers show no disposition to
advance bids, in spite of the recent rise in the price of wheat,
and sellers remain as firm in their views as ever. Rye flour
has been steady as a rule,with small jobbing sales. Corn
meal has been easy with light sales, parti}7 for export.
Wheat has shown a rising tendency, partly because of ad­
vancing foreign markets and partly because of light receipts
and strong cash markets at the Northwest. Moreover, the
weather at the West has not been altogether favorable. It
has been exceptionally mild in the winter-wheat belt, where
the crop for the most part lacks the protection of snow, while
T o t a l_______________ _______ ____________ ______________________________ 2 4 7 ,7 6 9
latterly the weather has been exceptionally cold at the North­
The particulars of the foregoing shipments for the week,
west, and the predictions have been for a cold wave in the
arranged in our usual form, are as follows:
winter-wheat belt, which, striking the unprotected wheat,
Great F ren ch Ger- — O th .liir o p e — M e x .,
might have done considerable harm. These predictions
T ctal.
B ritain ,
p orts. m an];. N o rth. Sou th , dec. J a v a n .
8,055
809
1,307
2 ,1 9 0
N e w Y o r k - ___ 2,4 7 0
1,279
have not been fully verified, but the market is still unques­
9,791
9 4 .3 2 6
N ew O rle a n s ___ 74,511
10,024
tionably more or less sensitive to the question of temperatures
81,9 1 6
10,257
G a l v e s t o n ______49,6 1 5 22,0 4 4
9,596
9 ,5 9 6
M o b i l e __________ ____
____
in the winter-wheat belt. The Australian yield seems likely
S a v a n n a h ______ 6 ,9 0 6
___
1,350
2 2.327
14,071
to turn out smaller than was at one time expected. On the
5,672
B r u n s w i c k ___ _ 5,672
_____
5,4 2 3
W ilm in g t o n ____ 5,423
____
other hand, from present appearances the Argentine crop
3 ,0 4 4
B o s t o n ________ 2,9 3 4
____
will amount to 142,000,000 bushels, against 135,000,000
2 ,3 7 0
B a ltim o re ______ 2,3 7 0
____
1,760
bushels last year and 151,000,000, the high record crop of
P h ila d e lp h ia ___ 1,621
______
3
,0
0
0
S ail F r a n c i s c o .. ____
____
. . . 3 ,0 0 0
1904-05. But partly it appears, on account of car shortage,
10,280
.-.1 0 ,2 8 0
S ea ttle ________
____
____
the crop in our Northwestern States is being marketed very
T o t a l _______ 151 ,5 2 2 3 3 ,347 24,4 7 6 13,053 11,981
110 13,280 247 ,769
slowly, and the increase of stocks in that section for the week
The exports to Japan since Sept. 1 have been 95,175 bales is therefore small. The world’s available supply increased
last week 1,855,000 bushels, against a decrease in the pre­
from Pacific ports and 10,000 bales from Galveston.
vious week of 1,090,000 bushels and a decrease for the same
Cotton freights at New York the past week have been as week last year of 1,833,000 bushels. This had no great effect,
follows, quotations being in cents per 100 lbs.:
though it brings the world’s stock of all kinds of wheat up to
Sat.
F r l.
M on.
T u es.
W ed.
T h urs.
167,390,000 bushels, or, in round figures, 14,000,000 bushels
c.
17
17'
17
17
17
17
17
17
c.
17
17
17
17
more than a year ago. This includes SO,590,000 bushels of
22%
22%
22%
c.
22%
22%
22%
American, or, roughly, 9,000,000 bushels more than at the
20
20
20
20
20
20
c.
same time last year. One disappointing factor is the slowr25
25
25
25
25
25
H a m b u r g _______ c.
20
20
20
20
20
20
A n t w e r p ________ -C.
ness of the export trade, although recently there have been
26
26
26
26
26
26
G h en t, v ia A n t . . - C .
some signs which seem to hold out hopes of an early awaken­
28
28
28
28
28
28
-C.
-C.
ing of foreign business. To-day prices declined a fraction
30
30
30
30
30
c.
30
early in the day, owing to disappointing cables, realizing and
23
23
23
23
23
c.
23
T rieste ____
32
32
32
32
-C .
32
32
favorable weather, but later there was a rally on covering of
J a p a n ______
45
45
45
45
-C .
45
45
shorts, light receipts and commission-house buying.
LIVERPOOL.— By cable fromLiverpool we have the folD A I L Y C L O S IN G P R I C E S O F W H E A T F U T U R E S IN N E W Y O R K .
lowing statement of the week’s sales, stocks, &c., at that port
S a t. M o n . T u es . W ed . T h u rs.
F r l.
D ec . 21.
Sales o f th e w eek ---------- b a le s . 57,0 0 0
O f w h ich s p e cu la to rs t o o k . _ 3,000
O f w h ic h e x p o r te r s t o o k ____
2,0 0 0
S ales, A m e r ic a n ________ ______ _ 5 1 ,0 0 0
A c t u a l e x p o r t __________________
12,000
F o r w a r d e d ________ _____ ______ ,1 2 5 ,0 0 0
T o t a l s t o c k — E s tim a te d .............5 7 1 ,0 0 0
O f w h ic h A m e r ic a n — E s t ___ 50 9 ,0 0 0
T o t a l Im p ort o f th e w e e k _____ 4 0 1 ,0 0 0
O f w h ich A m e r ic a n ---------------111 ,000
A m o u n t a floa t ................................ 4 0 9 ,0 0 0
O f w h ich A m e r ic a n ---------------414 ,0 0 0

D ec. 28.
2 0 ,000
1,000
1,000
18,000
14,000
66,000
700 ,000
620 ,000
208 ,0 0 0
171,000
398 ,000
321 ,000

J a n . 4.
36.000
2,0 0 0
1,000
31.0 0 0
8,000
94.0 0 0
7 4 9 .0 0 0
657 .000
152 .000
119.000
417 .0 0 0
342 .000

J u n . 11.
85.0 0 0
3.0 0 0
4.000
76.000
19.000
104.000
745 .0 0 0
643 .0 0 0
119 .000
8 2 .0 0 0
49 3 .0 0 0
41 8 .0 0 0

The tone of the Liverpool market for spots and futures
each day of the past week and the daity closing prices of
spot cotton have been as follows:
Spot.

Saturday.

M onday.

Tuesday.

W ed’day.

Thursday.

Friday.

Market
12:15
P. M.

Fair
1
!■ business
doing.
J

Large
business
doing.

Large
business
doing.

Large
business
doing.

Large
business
doing.

Large
business
doing.

M id .U pi’ cls

5.94

10,000
S a le s _____
Spec.& exp.
1.000
ztFirm at
Futurcs.
Market
1 3 Q 1 pts.
opened
j advance.
Market,
4
P. M.

1 Firm at
\ 5% @ 7 %
J pts. adv.




6.04

5.96

6.02

(5.02

5.96

15,000
1,500

12,000
2,000

15,000
1.500

15,000
2,000

15,000
1,500

Firm at
4 ^£5 pts.
advance.

Steady at
5 @ 5%
pts. dec.

Quiet at
partially
1 pt. adv.

Steady at
5% <®6
pts. adv.

Quiet at
6 points
decline.

B ’ly st’y at Firm at B 'ly s t'y at Quiet at
2% pts.dec. 3 % @ 5%
2 @ 4%
5% <8.7
pts. adv.
pts. adv. @ % pt.adv pts. dec.

Steady at
3% @ 4 %
pts. dec.

N o 2 red w in t e r . . - ............................... . 8 0
M a y d e liv e ry in e le v a t o r ____________ 81 IK
J u ly d e liv e ry in e le v a t o r ____ _______ 8 1 %

80
81 %
81%

80
81 %
81 %

80
82
81 %

80
82%
82%

80 %
82 5-1
82%

D A I L Y C L O S IN G P R I C E S O F W H E A T F U T U R E S IN C H IC A G O .
S a t. M o n . T u es. W ed . T h urs.
F r i.
J a n u a ry d e liv e ry in e le v a t o r ________ 71 %
71%
71%
71 %
72
72
M ay d e liv e ry in e le v a t o r ____________ 7 5 %
75%
75%
75%
76 %
76 %
J u ly d e liv e ry in e le v a t o r -------------------75
75%
75%
75%
76%
76%

Indian corn futures have advanced with the trading more
active. Stimulating factors have been the continued small­
ness of the crop movement and the absence of contract grade
in the receipts at Chicago. The light movement is attributed
by many to the car scarcity, but whatever the cause the
fact that the receipts do not increase permanently tends to
keep short selling down to a minimum. There has been
buying by prominent commission houses of late and shorts
have covered. At times, moreover, the exports have been
larger, and it is believed by many that a good export trade
is being done and not full}7 reported. To-day the market
weakened early, owing to a decline in wheat and realizing,
but later on covering of shorts and light receipts caused a
recovery.
D A I L Y C L O S IN G P R I C E S O F ;N O . 2 M I X E D
Sat. M o n .
Cash c o r n _____________________________ 5 2 %
52%
J a n u a ry d e liv e ry in e le v a t o r -------------5 1 %
51%
M ay d e liv e ry in e le v a t o r ____________ 5 0 %
50%
J u ly d e liv e ry in e le v a t o r ____________ 5 0 %
50%

CORN
T u es.
52%
52%
50%
50%

IN N E W Y O R K .
W ed . T h urs.
F rl.
52%
53
53
52
52 %
52 %
50%
50%
50 %
50%
50%
50%

114

THE CHRONICLE.

D A I L Y C LO SIN G P R IC E S O F C O R N F U T U R E S
S a t. M o n . T u es.
January delivery in elevator________ .39
39 J4
39 %
M ay delivery in elevator____________ 43
43 %
43%
July delivery in elevator____________ 43 %
4 3 )1
43 'A

IN C H IC A G O .
W ed. T h u rs.
F ri.
39 %
39 %
39 %
43j-s
43?^
43 %
43 %
43 %
43 %

Oats for future delivery in the Western market have been
firm in the main, owing to sympathy with corn. The trad­
ing, however, has been on a very small scale and has lacked
interesting features. But the receipts have been small
and shorts have covered at times. The cash demand has
been fairly active at Chicago and prices there have shown
an advancing tendency. To-day prices were slightly lower
at first, owing to depression in corn and wheat and liquidation
but rallied later on covering of shorts.
D A I L Y C L O SIN G P R IC E S O F O A T S IN N E W Y O R K .
S a t.
M on.
T u es.
W ed.
T h u rs.
F r i.
M ixed. 26 to 32 l b s - . 39
39
39
39
39
■ 39
W hite clipped, 36 to
38 lb s_______________ 4 0 K -4 2 4 0 ^ - 4 2 4 0 ^ - 4 2 4 0 ^ - 4 2 4 0 ^ - 4 2 4 0 % - 4 2
D A I L Y C L O SIN G P R IC E S O F N O . 2
S a t.
January delivery In elevator________ 3 3 %
M ay delivery In elevator____________ 3 5 %
July delivery in elevator____________ 3 3 %

M I X E D O A T S IN C H IC A G O .
M o n . T u es. W ed . Th urs.
F r i.
33%
33%
33%
33%
33%
35%
36
30%
36%
36%
33%
33%
33%
33%
33%

The following are the closing quotations:
Low grades_____________ 52
Second clears___________ _2
C le a r s ___________ _______ _3
Straights________________ _3
Patent, spring___________3
Patent, winter___________3
Kansas patents________ _3

FLOUR.
85 @ $3 00 Kansas straights-----------$3 55 i@ $3
50 i .2 60 Kansas clears----------------- 3 15 i “ 3
40 i
3 65 Blended patents________ 4 35 i 4
65 (
3 75 R ye flour________________ 3 75 i 4
80 t
4 20 Buckwheat flour_______ 2 15 i
2
60 i
3 85 Graham flour___________ 2 90 i 3
3 O O lC ornm eal_______________ 2 65 © 2
80 (

75
30
90
20
25
75
75

G R A IN .
W h ea t, per bush.—
c.
ICorn, per bush.—
c.
N . D uluth, N o. 1___________
89 % | N o . 2 m ixed___________ _f.o .b .5 3
N . D uluth, N o. 2 ______f .o .b . 87 % | N o. 2 yellow, new _____ _f.o .b .5 0
Red winter, No. 2 ____ f.o .b . 8 0 % | N o. 2 white, new ________f .o .b .5 0 %
Hard “
“
f .o .b . 84 % |Rye, per bush.—
Oats— M ixed, per bush.—
| N o. 2 W estern__________Nominal.
N o . 2 white_______________40 @41
| State and Jersey_______ Nominal.
N o. 2 mixed __________
39
I Barley— W estern _______ Nom inal.
N o . 2 white, clipped . . 4 0 % @ 42
| F e e d in s ________________ _Nominal.
F o r o t h e r t a b l e s u s u a l ly g iv e n h e r e , se e p a g e 8 4 .

T H E D R Y GOODS T R A D E .

658,880

3,238,405

3,092
3,458

313
582
280
372
1,005

3,717,020

3,005,168

622,152

108,754
185,558
100,042
80,240
48,240

14,677

11,210

3,458

313
582
280
372
1,005

11,210

3 , 7 1 7 ,6 2 0

3,0 0 5 ,1 6 8

622,452

108,754
185,558
100,042
80,240
48,240

3 ,0 0 5 ,1 6 8

11,210
3,005,168

THE M A R K E T .

658,830

14,677

11,210

3,238,405

3,238,405

10,513

3,002

3,807,244

0 1,004
184,162
2 2 1,803
88,802
30,515

10,513

017,420
3,095,108

13,605

335
561
330
411
1,453

3,712

IMPORTS ENTERED
FOR CONSUMPTION
FOR THE WEEKAND SINCE JAN. 1 1007 AND 1006.
Week Ending
Week
E n d in g
Jan. 5 1007.
Since Jan. 1 11)07.
Jan.
6 1006.Since Jun. 1 1000.
1‘kgs.
Value.
Pkgs.
Value.
Pkgs.
Value.
I kgs.
V a lu e.
Manufactures of—
$
?
$
$
W o o l ............
933
289,345
033
280,345
1,238
303,800
1,238
3 0 3 .8 0 0
Cotton---------------------------3,003
1,275,325
3,603
1,275,825
3,500 1,101,057
3,566
1,11)1,057
Sills:----------- ----------------------------------------1,706
1,015,400 1,700
1,015,400
1,524
807,065
1,524
8 07,005
F la x ----------- -------------------1,007
376,627 1,667
376,027
2,400
475,802
2,490
47 5 ,8 0 2
M iscella n eou s ................ ........................
. 2,454
281,0182,454281,018
2,392
220,004
2,302
220,604

T o t a l ........... ........................ _ 10,513

Total withdrawals____

3,238,405

3,807,244

14,315

3,000
11,219

W AREH OUSE
W IT H D R A W A L S
THROWN
UPON
Manufactures of—
W o o l --------388
123,270
388
123,270
Cotton ......... ........................
745
246,807
745
246,807
S i l k ..............................................................
207
128,245207
128,245
F la x ----------- -------------------540
107,853
540
107,853
Miscellaneous ________
1,203
52,004 1,203
52,064

for con sum ption-. 10,513

Total m ark eted _______ 13,005

Entered

3,712,594

*617,420
3,005,108

IMPORTS ENTERED
FOR
W AREH OUSE
DURINGSAME
P E R IO D .
Manufactures of—
W o o l ........... ........................
318
08,091
318
98,691
335
01,004
Cotton _____
765
218,705
765
218,705
561
184,162
SUlc ----------- -------------------218
117,740218
117,740
336
221,803
F la x ............. ........................................................................
410
00,50141000,501411 88,892
--------050
54,024650
54,624
1,453
30,515
Miscellaneous -------------

3,006
1 1,219

504

14,315




580,351
3,238,405

7,165

The value of these New York exports since Jan. 1 has been
$162,296 in 1907, against $420,882 in 1906.
The sale to China of 1,500 bales of standard drills was the
only actual business consummated with that country during
the week, but there were numerous inquiries for other lines,
and, generally, there are indications of an awakening of
interest in this section of the market. The price obtained for
the lot mentioned was slightly lower than the recently pre-

3,827,756

7,165

2_,663
----------G
653
36
658
2,667
449

12,883

2,3 2 7

2~,663
------6
653
36
658
2,G67
449

2,370
10,513

28
426
71
340
650
584

The importations and warehouse withdrawals of dry goods
at this port for the week ending January 5 1907 and since
Jan. 1 1907, and for the corresponding periods of last year,
are as follows:

589,351
3,238,405

T o ta l.............................................. ................... 2,3 2 7

151
—

---------1905--------ince
ce
Ssin
W eek .
J a n . 1.
8
8
25
25

Importations and Warehouse Withdrawals of Dry Goods.

3,827,756

India I I I I I I I I I Z I I I I I I I I I I I - I I I I ' - I
161
A rabia_____________________________________ ______
A f r i c a _____________________________________
28
W est In d ie s _______________________ ________
426
M e x ic o ............. .....................................................
71
Central Am erica___________________________
340
South America____________________________
650
Other Countries___________________________
584

in ccee
oSm
J a n . 1.
65
2

FOREIGN D RY GOODS.— Imported woolen and worsted
dress goods are quiet. Silks and silk ribbons have again
been advanced and are in good demand; the improvementUn
the former is being more than maintained. Linens are strong
and burlaps very firm and scarce.

- ---------12,883

----------1 9 0 7 -

N ew Y o r k to J a n . 5.
W eek .
Great Britain_________________ _________
65
Other European___________________________
2

WOOLEN GOODS.— Further lines of men’s wear heavy­
weight woolen and worsted goods have been opened during
the week and a fair business has been transacted at prices
slightly under the highest of last season. There has been
nothing in the way of great enthusiasm in the market,
however, and the volume of buying is not as large as it has
been in the past. There is little change in the character of
the demand, worsteds coming in for the lion’s share of
attention but woolens selling better, proportionately, than
they have during the past two or three seasons. The mild­
ness of the weather has had a good deal to do with the lack
of animation and it is felt that a couple of weeks of season­
ably cold weather would make a great deal of difference to
the trade. Overcoatings have been very slow and are not
expected to improve until the weather changes. There is
not much doing in the dress goods market at the moment but
sellers are very confident of a good heavy-weight season
when lines begin to be shown freely. It is too early yet for
duplicating to any extent but some rather unwelcome can­
cellations have been recently reported.

Total Imports

DOMESTIC COTTON GOODS.— The exports of cotton
goods from this port for the week ending Jan. 5 were 2,327
packages, valued at $162,296, their destination being to the
points specified in the tables below:

lx x x iv

vailing figure. The home demand for heavy brown drills
and sheetings has been moderate and orders have been placed
for shipment after March and April at full prices. In spite
of this, however, the position of heavy goods is not so favor­
able as that of the finer grades and the prices realized are not
so remunerative. Lighter-weight sheetings have been in
good request and are very firmly held. Bleached goods con­
tinue strong with premiums, easily obtainable for near-by de­
liveries; the principal demand for the moment is from cutters .
Wide sheetings have been advanced and many of the more
prominent lines are still held at value. Coarse colored
cotton goods maintain their favorable position and the de­
mand is sufficient to insure against any weakness for some
time to come. Linings have been active. The expected
opening of napped goods has not materialized and sellers
seem to be in no hurry to show goods; there is a general
feeling in the trade that the demand for fall is going to be
heavy and that prices will be higher. The coming advance
in prints induced some very heavy buying of these and the
market has been active. Ginghams are in very small supply
and are expected to be even scarcer later on. Print cloths
have been moderately active, wide goods selling freely for
April, May and June delivery.

T o t a l ........... ........................
2,370
Entered for consumption. .10,513

New York, Friday Night, January 11 1907.
Only a moderate trade has been passing in the primary
cotton goods market during the past week, but prices have
held very firm and in several instances advances have a gain
to be recorded. A number of the large buyers have not yet
returned to this city after the holidays and are not expected
back until about the middle of January, and those who are
here find that there are few goods available for anything
like early delivery. Re-ordering has commenced already to
some extent, but, in view of the unsatisfactory deliveries
being made by the mills, agents are disinclined to commit
themselves to any great extent. For the same reason buyers
eagerly pick up any slight accumulations that may occur
and the market is consequently kept very bare of supplies.
Jobbers have had an active week and have made particularly
good sales of printed and wash goods. From a price-movement point of view the most important development of the
week has been an advance of J^c. in lines of staple prints;
this had been anticipated for some time and as it does not go
into effect for another week or more, there has been active
buying of prints in all directions. Export business with
miscellaneous countries has been larger and a notable trans­
action has been the sale of some heavy drills to China. A
fair trade has been transacted in the woolen and worsted
goods market.

[V o l.

Jan.

12

C ity
IN D E X TO CHRONICLE V O LU M E.
With this issue of our paper we send to our subscribers a
complete index to all the matter appearing in Volume 83
of the "Chronicle,” covering the numbers from July 7 1906
to December 29 1906, both inclusive. The items appearing
during that time in our “ State and City Department” will
be found fully indexed there for the whole of the six months
referred to.
___________________
M U N IC IP A L BO ND SA LES I N DECEM BER A N D TH E
Y E A R 1906.
The December output of municipal bonds exceeded any
total for that month in previous years, with the exception
of 1900. According to our records, $21,153,569 of such
bonds were placed, not counting SI9,302,986 of temporary
loans, $448,624 of Canadian loans, $2,000,000 bonds of
Manila and $1,050,000 of general fund bonds of New York
City. The aggregate for December as well as for the twelve
months for a series of years is shown in the following table:
Month oj
December.
1906----------- -521.153,569
1905----------- . 8,254.593
190 4----------- . 9,935,785
1903 _______ . 13,491,797
1902.............. - 11,567,812
190 1_______ . 15,450,958
1900_______ . 22,160,751
18 9 9 _______ . 4.9S1.225

M onth 0}
F or Vie
|
December.
Twelve M os. |
$201,984,565| 1 8 9 8 - ______ $7,306,343
183,0S0,023| 1897 - - ______ 17,855,473
250,754,946 1896 — ______ 10,664,287
152,281,05011895 - - ______
8,545,804
152,846,3351 1894 - - ............ 13,486,374
149.498,6891 1 8 9 3 - ............ 17,306,564
145,733,062] 1892 - . .............
3,297,249
118.113,0051

For the
Twelve M os.
$103,084,793
137,984,004
106,496,060
114,021,633
117.176,225
77,421,273
83,823,515

For the year 1906 the total exceeded that for 1905 by nearly
19 millions, and, with the exception of 1904, the aggregate
is the largest ever recorded for any calendar year. The
amount is $201,984,565, as against $183,080,023 in 1905,
$250,754,946 in 1904, $152,281,050 in 1903, S152,846,335
in 1902, $149,498,689 in 1901 and S145,733,062 in 1900.
It should be borne in mind that, for reasons so often ex­
plained, we do not incorporate in our compilations temporary
loans, nor do we include sales made by places located out­
side of the United States. Thus we reported during the
year $174,974,910 of temporary loans, $15,241,520 of Cana­
dian loans, $4,750,000 of Manila, Philippine and Hawaiian
loans and $11,750,000 of general fund bonds of New York
City, all of which have been excluded. With all these in­
corporated the total would be increased to $408,700,995.
The following table shows the monthly output in each of
the years 1906 and 1905:
Ja n u a ry_____
F eb ru ary ____
M arch-............
A pril................
M a y _________
J u n e ................

1900.
$S,307.582
28,390,055
20.332,012
8,825.437
14.895,937
21,618,622

1905.
I
1906.
$8,436,2531 J u l y ................ $25,244,919
9,310,6311 A u g u s t .........
16,366,587
17,980,9221Septem ber —
9,002,418
40,409,4281 O c to b e r .........
15,345,277
16.569,0661 N ovem ber . . .
12.501,550
19,016,754| D e ce m b e r ___ 21,153,569

1905.
$10,878,302
8,595,171
9.825,200
7,915.496
25,888,207
8,254,593

T o ta l...................................................- ...................................... $201,984,565 $183,080,023
Average per m onth.................... ............ ..............................$16,832,047 $15,256,668

In the following table we give a list of December loans to
the amount of $21,153,569 issued by 156 municipalities.
In the case of each loan reference is made to the page in the
“ Chronicle” where an account of the sale is given.
D ECE M BE R BOND SALES
M a tu r ity .
P a g e.
N a m e.
R ate.
61 .. A k r o n , O h io _________________ 4
1908-1915
1 4 2 6 .- A l b a n y , N . Y ________________ 4
1907-1926
1 4 2 6 .-A l b a n y , N . Y ________________ 4
1907-1926
1 4 2 6 - - A lb a n y , N . Y ________________ 4
1907-1916
1 5 4 8 - .A l g e r C o u n ty , M ic h __________5
1922
1 1 6 --A m s t e r d a m & P e rth S ch .
D lst. N o. 5 , N . Y __________4 14
1908-1927
6 1 . . A n a c o n d a , M o n t -------------------4 )4
d l9 1 6 -1 9 2 6
1 1 6 . - A r c a d ia , N e b ------------------------- 5
d l9 1 1 -1 9 2 6
6 1 . . A r lin g to n , S o. D a k ---------------5
d l9 1 6 -1 9 2 6
M 2 6 - .A s b u r y P a rk . N . J ----------------- 4
1946
6 1 . . A s h la n d , O h io ----------------------- 5
1913-1917
1 6 0 4 ..A t h e n s . O h io ________________ 5
1907-1916
1926
6 1 . .A t la n t ic C ity , N . J __________4
1 6 0 4 . . B a k er_C o u n ty , G a ___________ 5
1907-1926
1 6 0 4 . .B a r n e s v ille S ch . D is t .,M in n . 4 34
1917
1 1 6 ..B e t h a n y , M o ________________ 4
1 6 0 4 . . BlulU lale S c h . D ls t ., T e x . . . 5
d l9 2 6 -1 9 4 6
6 1 . .B o s t o n , M ass........................... .. 3 )4
1926
6 1 - - B r a ln e r d , M in n ____
. . .
4
1932
1 1 7 . . B u en a_V ista C o u n ty , l a ____ 6
1 4 2 7 .- B u ffa lo , N . Y ________ _______ 4
1907’ *69 '"’ 11
1 5 4 8 -.B u t le r , P a _________________ I . 4
1922-1924
1 4 8 7 - . C a rro llto n , K y _______________ 5
1908-1927
1 1 7 --C a 'S _C o u n ty , N . D _______
7
1910-1914
1 4 8 7 .-C e d a r R a p id s , I o w a __________
1 1 7 --C e d a r v illc , 111------------------------"
1 4 8 7 . . C en terville, M iss-------------------o
1908-1927
1 6 0 5 -.C h a n n ln g S ch . D is t ., T e x . __ 5
d l9 2 6 -1 9 4 6
1 1 7 . .C h e v io t , O h i o . . . ............... ..
5
6 1 . . C h ica g o S a n ita ry D ls t ., 111.. 4
1 4 8 8 ..C in c in n a ti, O h io ..................- . 3 . 6 5
1 5 4 8 - . C lallam C o u n ty , W a s h --------- 3 } {
1 6 0 5 ..C la r e m o n t, N . I I -------------------3
1 5 4 8 ..C ly d e .S ch . D ls t ., T e x ............. 5
1 5 4 8 . .C o h o e s , N . Y - - ..................
4
1 4 8 8 ..C r o w le y , L a . (3 i s . ) __________5
6 0 5 . . D ou gla s C o u n ty S ch . D ist.
N o . 128, W a s h ____________ 6
1 1 7 . .D o u g la s C o u n ty S ch . D lst.
N o . 150. W a s h ____________ 6
6 1 . . D ou g la s C o u n tv U n . H igh
S oh. D ls t ., C o l ....................... 6




115

THE CHRONICLE.

1907. j

1907-1916
1909-1926
1931
1914
d l9 1 6 -1 9 4 6
1907-1911
190 6-1 940
(11911-1916
1911

A m o u n t.
§31 ,0 0 0
100 ,000
100 ,000
84,0 0 0
100 ,000

P r ic e.
100 .258
102.15
102.15
100.91
103.726

11,000
100
3 4 ,0 0 0
10,000
100
97
13,000
150 ,000
108.738
5 ,5 0 0
4,0 6 0
103.386
4 8 ,0 0 0 ZlOO
103.33
30 ,0 0 0
100.425
4,0 0 0
6,0 0 0
100
4,0 0 0
J 4 'A %
\ basis
13,950 £100
35,0 0 0
100
23,0 0 0
104
190,637 £100
20,0 0 0
102.035
25.0 0 0
105.54
91,039
100.084
7 0 ,0 0 0
100
3,000
12,500 t/100.60
8,000
J 4H%
I basis
1,590
1 0 1 .21
500 ,000
300 ,000
lb o '.i2 5
34,0 0 0
100
_______
8 .0 0 0
6,000
1 02 .952
38,609
100
100 ,000
100
1,600

100

1,500

100

15,000

106 .666

P a g e.
1605.
1427.
1488.
1548.
61.
1548.

N a m e.
R a te .
.D u r a n t, I n d . T e r. (2 i s . ) ____ 5
.E a s tc h e s te r S. D . N o . l , N . Y . 4
.E a t o n t o n , G a ________________ 5
.E a u C la ire , W is ______________4
.E liz a b e th , N . J --------------------- 4
.E m a u s , P a ___________________4

ei-

-E r ie S. D . N o . 4 7 , M in n ____ 5
1 48 8- .E s s e x C o u n ty , M a s s ________ 4
1 5 4 8 . .E s t a c a d a , O re _______________ 5
1 48 8- - E v e r e t t , M ass________________ 4
1 48 8- . E v e r e t t , M ass________________ 4
1 54 8- .F a ir m o n t, I n d _______________ 6
6 1 . .F a ir v ie w , M ic h _______________ 4 )4
1 6 0 5 . - F itc h b u r g , M ass. (5 i s . ) ____ 3 'A
1 6 0 5 . .F l in t , M i c h . _________________ 5
142 7- -F o lla n s b e e , W . V a ___________ 4 ) 4
148 8- .F r e m o n t , O h io _______________ 4 ) 4
148 8- -G a llo n , O h io _________________ 4 )4
1 42 7- -G a s S ch o o l D is tr ic t, K a n ___ 5
1 60 6. .G r a n d R a p id s , M ic h ________ 4
1 4 8 8 . .G r a n d R a p id s , M in n ________ 5 )4
1 48 9- .G r e e n s b u r g , P a _____________ 4
1 5 4 8 . -G re e n v ille C o ., S. C. (2 i s . ) . 5 )4
1 4 2 7 . -G r e e n w ic h an d E a s to n S ch .
D ls t.. N . Y ________________ 4
1 6 0 6 . .H a m ilt o n , O h io _____________ 4
160 6- - H a m ilto n , O h io ---------------------4
160 6- .H a m ilt o n , O h i o . . ............. .......4
160 6- .H a m ilt o n , O h io _____________ 4
1 4 2 8 . -H a v e r h ill, M ass______________ 4
6 1 - - H e n r y C o u n ty , M o __________4 ) 4
1489_ - H o w e S c h . D is t ., In d . T e r . . __
148 9- -I s lip S ch . D . N o . 12, N . Y . . 5
1 48 9- . I t h a c a , N . Y _________________ 4
142 8- -J a s p e r C o u n ty , G a ___________ 5
6 1 . -J e r s e y C ity , N . J ____________ 3 )4
148 9- - K a la m a z o o , M i c h ___________ 4
1 4 8 9 . -K a la m a z o o , M i c h ___________ 4
1 48 9. -K e a r n e y , N e b _______________ 5
6 1 . -L a c k a w a n n a C o u n ty , P a ___ 4
1 48 9- .L a k e w o o d , O h i o ____________ 5
148 9- - L a k e w o o d , O h i o ____________ 5
1 60 6. -L a n g d o n S ch . D is t ., N . D _ _ 4
154 9- -L a w r e n c e , M ass______________ 4
1 1 8 . -L e e s b u r g , V a ________ ________4)4
118. -L ik e ly Sell. D is t ., C a l_______ 6
160 6- .L i m a , O h io ___________________5
6 2 . .L i m a S ch . D ls t ., N . Y ______414
6 2 . - L iv in g s to n , M o n t ........ ..............6
1 6 0 6 . . L o c k p o r t , N . Y ______________4
1 5 4 9 . - L o g a n T w p . S c h . D is t ., P a . . 414
1 42 8. -L o v e la n d , O h io _____________ 6
1 49 0. - L y n n , M ass. (2 i s .) __________4
1 49 0. - M c C o m b , M iss_______________ 5
6 2 . -M a d is o n v ille S c h . D is t., O h io 4
1 54 9. -M a h o n in g C o u n ty , O h io ____ 4 K
1 60 6. -M a ld e n , M ass________________ 4
1606. -M a ld e n , M ass________________ 4
160 6. .M a ld e n , M ass________________ 4
160 6. -M a ld e n , M ass________________ 4
1606. .M a ld e n , M ass________________ 4
149 0. .M a r io n , O h io ________________ 4 )4
1606. -M e a d v ille , P a ________________ 4
1549. .M ilw a u k e e , W is .........................4
119. -M o rriso n C o ., M in n __________6
6 2 . -M o s c o w S ch . D is t., I d a h o . - 5
1428. .M o u n t V e rn o n , N . Y ________ 4
160 7. .N e w B e d fo r d , M ass. (2 I s .) . 4
119. .N e w P a lestin e, I n d _________ 4 14
I 4 8 6 . -N e w Y o r k C ity (2 i s . ) ______4
1486. .N e w Y o r k C i t y _____________ 4
148 6. .N e w Y o r k C ity (2 I s . ) ______4
119. - N e w Y o r k C ity (4 I s . ) _______ 3
1 5 4 9 . - N e w Y o r k S t a t e ____________ 3
1549.
15491549.
1549.
1490.
149 01490.
1 60 7143 0.
1 19 .
1 60 7.
1 49 0.
1490.
1550.
1490.
160 7.
1607.
1 49 01491.
63.

.O a k la n d , C a l .............................. 4 )4
- O a k le y , O h io .............................. 5
.O a k le y , O h io .................... ......... 5
.O n e o n ta , N . Y ----------------------- 4 )4
-O r a n g e b u r g , S o . C a r o ............4 14
.O r a n g e C o u n ty , N . Y _______3 )4
-O s s in in g S ch . D is t ., N . Y ___ 4.2 0
-P a in e s v ille T w p ., O h io ______4
-P a t e r s o n , N . J _______________ 4
-P e n d le t o n , O re. (2 i s . ) ______6
- P le a s a n t R id g e , O h io _______ 4
. P o n t o t o c , M iss_______________ 6
.P o r t A r e n a S ch . D ls t .. C a l . - 6 )4
.P o r t c h e s t e r , N . Y ___________ 4
-P o r t e r v ille , C a l ......................... 5
.P o r t s m o u t h , N . H ___________ 4
.P o r t s m o u t h , O h io .................... 4
.P r e b le C o u n ty , O h io ............. 4
. R a n d o lp h C o u n ty , I n d ______ 6
. R e d L o d g e S ch . D ist. N o .
3 2 , M o n t........ ..........................6
1 5 5 0 . - R ic h m o n d , M o _______________4 ) 4
1 6 0 8 . .R ic h m o n d , V a _______________ 4
6 3 . .R i c h m o n d , V a _______________ 4

1608- . R o c k d a l e , T e x -----------------------5

63.
149 1155 063.
160 863-

.R o s e b u d C o u n ty , M o n t ______4 )4
-R o t t e r d a m S . D . , N . Y ______ 5
. S a l e m , M a s s --------------------------- 4
.S a le m , O h i o -----------------------. . 4 ) 4
.S a n d u s k y , O h io _____________ 4
.S a n Ju a n S ch . D ls t ., C a l____ 5

1 4 9 1 . .S a n t a C lara C o u n t y , C a l____ 4
1 5 5 0 . .S h a w n e e , O k la . (2 i s . ) _______ 5
1608 . . S n y Isla n d L e v . D r. D is t .,
„ H I............................. - ............ ..
5 )4
1 60 8- -S p r a g u e S ch . D is t ., W a s h ___ 4
1 2 1 . .S p r in g fie ld , M ass. (2 I s .) ____ 3 )4
1 49 1. -S t o u g h t o n , M a s s ____________ __
1 5 5 1 . .T e c u m s e h , N e b ......................... 4 ) 4
1 5 5 1 . .T e r r a c e P a rk , O h io __________5
1 55 1- .T e r r a c e P a rk , O h io __________ 5
-T h o m a s v ille , G a . ............. ......... 4 ) 4
1 5 5 1 . - T o d d C o u n ty , M in n __________
1 4 3 2 . - T o le d o , O h io --------------------------- 5
1 5 5 1 , .T o l e d o , O h io --------------------------- 4
122 - .T o l e d o , O h io (5 i s .) __________5
1 6 0 9 . - T r a c y , M in n _________________ 4
1 4 3 2 . .T r u m b u ll C o. R o a d D is t.
N o . 2, O h io ________________ 4 )4
6 4 . . T u rn e rs F a lls F ire D ls t .,
M a s s _______________________ __
1609. U n io n C o u n ty , O h io ________ 5
1609. U n ion C o u n ty . O h io .......... ..
5
1552. W a d e n a C o u n ty , M in n. (2 is.) 3
64. W a te r to w n , W is ------------------- 4 ) 4
1492. W e lls to n . O h io ........................... 4 ) 4
1492. W e lls to n , O h io .................... ....... 4 ) 4
1492. W e lls to n , O h io ............... ............ 4 ) 4
1492. W e lls to n , O h io .......... .............. .. 4 W
1492. W e s t A lt o n S. D ., M o _______ __
122 . W e s tfie ld , N . J ........ ...................4 ^

1551.

M a tu r itg .
1936
1907-1926
1908-1937
1927
1926
d l9 1 2 -1 9 2 7
1907-1916
1916
1935
1916-1925
1916
1936
190 7-1916
190 7-1 910
1915-1920
1907-1911
1926
1926
1921
d l9 1 6 -1 9 3 6
1937
1907-1956
1926
1926
1926
1921
1907-1916
1911-1920
1947
d l9 1 1 -1 9 2 6
1917-1926
1908-1914
1937
1908-1917
1908-1917
1926
1907-1916
1926
1907
d l9 1 7 -1 9 2 7
d 1917-1922
1907-1916
1926
1907-1926
1937
1908-1911
1907-1926
1907-1926
1907-1913
1907-1911
1907-1909
1908-1927
1917
1916
1917-1921
1957
1956
1926
1916

1956
1908-1947
1907-1916
1907-1916
1912-1919
d l9 2 7 -1 9 4 7
a l9 1 7
191 0-1 919
1926
d l9 0 7 -1 9 1 6
1926
1926
1907-1910
1907-1911
1907-1946
1926
1916-1919
1907-1908
1908-1911
d l9 1 1 -1 9 1 6
1940
1940
d l9 1 6 -1 9 3 6
d l9 1 7 -1 9 2 7
190 7-1 924
190 7-1 916
1907-1934
1908-1914
1909-1928
191 7-1 946
1937
1 9 1 0 -1 4 &18
d l9 1 6 -1 9 2 6
d l9 1 7 -1 9 2 2
1907-1916
190 7-1 916
192 7-1 936
1907-1911
1926
1917

190 7-1 916
1907-1911
1912-1916
1907-1916
1907-1916
1907-1916
1907-1916
1907-1916

A m o u n t;
P rice.
$ 3 5 ,0 0 0
103 .145
3 0 ,0 0 0 it--------15,000
102.50
20,000
101.13
52,5 0 0 ZlOO
4 ,5 0 0 ; i o i
\ 103.20
700
5 0 ,0 0 0
100.31
_
10,000
5,0001 102 .037
7 0 ,0 0 0 /
5,200
100
25,000
102
105,750 ZlOO
7,100
100
2 0 ,000
100
12,050
105.13
8 ,5 0 0
100.30
5,0 0 0
100 .20
6 6 ,600
101.298
1 7,000
100
25,000
100.375
26,2 0 0
50,000
100
6 5 ,000
102.31
1 15,000
102 .12
55,000
102.12
1,600 zlOO
2 0 ,000
100.573
9 5 ,000
102.20
_
4,0 0 0
5,000
105 .86
60,0 0 0
103.313
50,000
106 .62
55 1 ,0 0 0 ZlOO
70 ,000
100.578
2 1 ,000
4 9 ,0 0 0 ?; 10 0 ,0 51
135 ,000
101.75
3,1061 100.333
32,9 22J
8,000
100
100,000
100.35
30,0 0 0
100
1.000
100
10.000 zlOO
8,0 0 0
100.312
25,0 0 0
107
500 ,0 0 0
100.11
65,000
102.51
1,025
100
13,000 ZlOO
15,000
2,500
102 .90*
13,500
101.50
40,0001
30,0001
7 ,0 0 0 ]• 100.51
5,000
3.000J
80,0 0 0
102.17
22,100
3 60 ,000
10 0 .6 4 "
71,795
101 .40
1,800
100
8 0 ,0 0 0
100.435
8 49 ,000
103.71
1,500
104 .50
5,000,000
101 .42
3 00 ,000
100.68
1,500,000
100.11
425 ,0 0 0 ZlOO
r 1,000
102.50
I 5,000
102 .00
\ 3 0 ,0 0 0
101 .50
25,0 0 0
101.125
1939,000 zlOO
588 ,500
105.522
1 ,1 6 5 ’1 103.39
2,7.31 jf
4,0 0 0
100.125
5 0 ,000
9 9 .4 0
200 ,0 0 0
100
90,0 0 0
100
10,000
100 .215
115 ,000
100.391
7,0 3 0
100
5,981 zlOO
8,0 0 0
100
2,1 0 0
101 .309
4 ,0 2 6
100
14,000
105 .835
160 ,000
100.59
14,000
101 .196
1 ,320
100 .10
5,3 0 4
1 0 3 .5 0 6
1,200
105
28,000
100.357
10,000
100.50
10,000
101
10,000
101 .25
5,000
100
4 7 3 ,5 0 0
99
18,5 0 0 1/100
4 0 ,0 0 0
100 .262
9 ,0 0 0
10 0 .1 1 1
10,000
28,000
100
7,0 0 0
100 .585
12,000
104 .916
100 ,000
100 .75
10,000
103.40
190 ,000
165,000
1 0 3 .1 6 '
2 2 ,000
100 .50
25,000
100
66,000 zlOO
2,0 0 0
5,000
102
1,124
105 .338
1,000
103 .35
30,000
100
7,000
75,478
101 .91*
60,000
1 02 .3 2
11,576
100
12,000
100
6 4,000

1 04 .637

5,0 0 0
3 0 ,000
60,000
9.461
7 0 ,000
14,360
1 ,765
1 ,705
1 ,710
1 ,200
3 0 ,000

1 04:133
1 01.718
100
100
102
100 .708
100.733
100 .73
101

116

THE CHRONICLE.

N a m e.
P a g e.
R a te.
149 2- .W e s t P a lm B ea ch S. D . , F la 5
1 43 2- .W h it e P la in s, N . Y ._____ _ . 4
_______
5
1 6 1 0 . .W i n o n a , M is s . .
1 4 9 2 - .W in y a h S c h . D is t ., S o . Car 5
-. o
1 5 5 2 . . W o l f e C ity , T e x _ 155 2- .W o o d v il l e , O h io ___ - ________ 4 1
6
1 2 2 - .W o o n s o c k e t , S. D - .____ __
6 4 . .Y a k im a C o. S ch . D ist. N o .
5 4, W ash .
____---------------5 H
161 0- -Y o n k e r s S ch . D is t ., N . Y - _ - 4
4
1 6 1 0 . - Y o r k C o u n ty , P a - _ - - _

1936
(?1911-1926
(U 92 7-1 937
CZ1921-1946
1908-09 &12
1910-1911
<21909-1926

A m o u n t. P r ic e.
$ 4 0 ,000
100 .05
8 5 ,000
100.05
1 0,000
100
3 5,0 0 0 Z/102.056
8,0 0 0
1,740
100.275
1,160
1 0 0 .8 8 3
5,0 0 0
100

(21910-1917
1936-1939
1911

10,000 V1 0 0 .4 7 5
4 0 ,0 0 0
102 .14
1 0 0 ,0 0 0 V100

M a tu r ity

T o ta l b o n d sales fo r D e ce m b e r 1906 (155 m u n icip a li­
ties c o v e r in g 202 sep a ra te"issu es)________________ fc$21,1 5 3 ,5 f>9
a A v e r a g e d a te o f m a tu r ity ,
d S u b je c t t o call in an d a fte r th e earlier
y e a r a n d m a tu re in th e la te r year,
fc N o t in clu d in g 5 1 9 ,3 0 2 ,9 8 6 o f t e m ­
p o r a r y lo a n s r e p o r te d , a n d w h ic h d o n o t b e lo n g In th e list, x T a k e n b y
sin k in g fu n d as an in v e s tm e n t,
v A n d o th e r c o n s id e ra tio n s .
B O N D S O F A M E R I C A N P O S S E S S IO N S .
N a m e.
R ate.
M a tu r ity .
A m o u n t.
P r ic e .
($ 1 ,9 5 5 ,0 0 0 1 0 5 .7 7 7
1 5 4 8 . . M an ila , P h ilip p in e I s la n d s -. 4
d l9 1 7 -1 9 3 7 {
15,000 1 0 9 .1 0
I
30,0 0 0
109

P a g e.

B O N D S SO L D B Y C A N A D IA N M U N IC IP A L IT IE S .
P a ge.
N a m e.
A m o u n t.
R ate.
M a tu r ity .
1 6 0 4 . - A c t o n , O n t ___ . ___ ______ 4
1926
$3,9 5 4
1 2,244
1 4 8 7 . _ A m h e r s t b u r g , O nt
190 7-1926
-----------4 y2
1487_ B e a m s v ille , O n t__
1907-1926
12,000
____ . 5
1 4 2 6 - _ B e llev ille, O nt
1907-1936
25,000
_ - _______ 4 K
1548_ -C h a r lo t t e to w n , P . E . I ______ _
15,000
61_
40,000
1936
6 1 - - G u e lp h , O n t ____
20,000
- . --4
1926
1606.
4,000
1 6 0 6 . - K a m lo o p s , B . C ._
25,000
20,000
1 5 4 9 . _N ew W e stm in s te r , B . C ____ 5
1926
8,200
120. P o n o k a ,A lta _
- - - ___ __ _ 5
1 4 9 1 . - R o s t e r n , S a sk ____
5
1916
3,000
100,000
1 2 0 - - S t . B o n ifa c e S ch . D ist ., M an . 5
190 7-1 926
1 60 8- -S e a fo r th , Ont.. 56,500
1926
-----------4 K
45,7 2 6
6 4 - V ic t o r ia , B . C _______ 4
1610.
18,000
- - 4M
155 2- Y ork . O nt
_
.
____ __ 4
40,000
1926
T o t a l _____

______________

P rice
96
97.09
103.645
100.148

101
100
100
10 0 .9S
101.565
97.54
100

.$ 4 4 8 ,6 2 4

R E V IS E D T O T A L S F O R P R E V IO U S M O N T H S.

The following items, included in our totals for previous
months, should be eliminated from the same, as the sales
have not been carried to completion. We give the page
i number of the issue of our paper in which the reason for
the failure to consummate the sale may be found.
P a g e.
.
N a m e, o f M u n ic ip a lity .
1 4 2 6 .. A la b a m a (M a r c h lis t )________________________________________
142 7-.G r e e n w i c h & E a s to n S ch . D is t ., N . Y . (J u ly lis t ) ________
1 6 0 6 ._ L a k e w o o d , O h io ( N o v . l is t ) ________________________________
9 9 9 - -S w is s v a le , P a . (J u ly l i s t ) ____________________________________
1 4 9 2 -_ W e s t P a lm B e a ch , F la . (O c t. lis t ) _________________________

A m o u n t.
$3 0 0 ,6 0 0
5 0 ,0 0 0
31,329
70,000
7 ,5 0 0

We have also learned of the following additional sales for
previous months:
N a m e.
R ate.
P a g e.
1 6 0 4 . . A k r o n S c h . D is t ., O h i o - . . . . 3.65
__
5
1 6 0 4 - _A lg o n q u in , 111.
4
1 1 6 - -A l t o o n a S ch . D is t ., P a
4 ,
1 5 4 8 - A v o c a , W i s _______
116 - - B o s t o n , M ass. (J u ly l i s t ) 1 1 7 . -C a m b r id g e , M ass. (V a r.) - - 3 H & 4
1 4 8 7 . -C a m e r o n , M o. ( O c t . ) ____ ___ 5
1 48 7- -C artersviU e, G a. (3 is.) ( S e p .) 5
1 1 7 . -C in c in n a ti, O h io ( V a r .) ._
1 1 7 . - D a y t o n , O h io. ( V a r .) . - _ - 4 - 5 - 6
1 6 0 6 . . H u d s o n C o ., N . ,T. (A u g .) . . . 4
6 1 - -K o o t e n a i C o u n t y , S . D . N o .
5
1 0 6 ,Id ah o _
- ___
5
1 4 8 9 - L in c o ln , 111. (2 is.)
1 5 4 9 . - L o c k p o r t , N . Y __________ . . . 4
1 1 9 . -M a ssa ch u setts (V a r.)
6
1 4 9 0 . - M ilfo r d . O h io (O c t.)
1 6 0 7 - -N e e s e C o lo n y S. D ., C a l- . . . 6
5
1 4 9 0 . _P o n tia c , M ic h .
- -120
Q u in c y , M ass. ( V a r . ) ___
120 - -S a la m a n c a , N . Y
...4
1 2 1 . T a u n t o n , M ass. (July)
4
121 - .T a u n t o n , M ass. (A u g .) .
4
1 2 1 . .T a u n t o n , M ass. ( O c t . ) ...
4
121...T a u n t o n , M ass. (A u g .)

__

M a tu r ity .
1919-1921
1907-1912
1936
1911-1920
1936
1 92 6-3 6& 4 6
f/1916-1926
1908-1927
1946

1907-1911
j
1907-1911
1907-1910
1907-1909

_ ___

41907-1926
.8 7
1916
1911
1918
1907

A m o u n t.
P r ic e.
$50 ,000
100
7,000
100
55,000
100 .005
5,000
100
300 ,000
759 ,0 0 0
V a r.
9,000
100
40,0 0 0
101 .375
605 ,132
73,1 3 0 2100
500 ,000
100.57
1,150
100
12,200
100
1,000
100
97,000
100
315
1 02.318
1,000
1 02 .75
1,500
1 00 .333
105,640
11,242
100
9,0 0 0
1 01.227
5,700 100 .062 5
10,000
100
2,300
100

All the above sales (except as indicated) are for November.
These additional November issues will make the total sales
(not including temporary loans) for that month $12,501,550.

Bond Proposals and Negotiations this week
h a v e been as follows:
Alexandria, Rapides County, L a.— Bond Election.— Re­
ports state that the City Council proposes to call an election
to be held the latter part of this month to vote on the quesion of issuing $25,000 water and electric-light-extension
nd $30,000 city-hall bonds.
Allegheny County (P. O. Pittsburgh), Pa.— Bond Sale.—
On Jan. 10 the $500,000 4% 30-year •coupon road and
highway bonds dated Feb. 1 1907 and described in V. 83, p.
1604, were awarded to the Pittsburgh Trust Company of
Pittsburgh at 101.50— a basis of about 3 .9 1 ]^ % .
Allentown School District (P. O. Allentown), Lehigh
County, Pa.— Bond Offering.— Proposals will be received
until April 1 by the Treasurer of the Board of Education
for the $121,500 33^% coupon refunding bonds mentioned
in V. 83, p. 1487. Denomination $500. Date April 1 1907.
Interest semi-annually in Allentown. Maturity part due
every five years from 1912 to 1937 inclusive. Bonds are
exempt from taxation.
Altoona, Pa.— Bond Election.— An election will be held in
this city Feb. 19 to vote on the question of issuing $100,000
4 % 15-30-year (optional) street-improvement bonds.
Altoona School District (P. O. Altoona), Blair County,
Pa.— Bond Sale.— This district awarded $55,000 4 % highsc hool bonds to Rudolph Kleybolte & Co. of Cincinnati on




[V o l.

l x x x iv

.

Nov. 19 1906 at 100.005. Denomination $1,000. Date
Dec. 1 1906. Interest semi-annual. Maturity thirty years.
Amsterdam and Perth Common School District No. 5
(P. O. Hagaman), Montgomery County, N. Y .— Bond Sale.
— On Dec. 31 1906 $11,000 school-building bonds were
awarded to the Amsterdam Savings Bank at par for 4J^s.
Denomination $550. Date January 1907. Interest annual.
Maturity $550 yearly on Jan. 15 from 1908 to 1927 in­
clusive.
Anderson, Anderson County, S. C.— Bond Election P ro­
posed.— There is talk of calling an election for the purpose
of voting on the question of issuing $75,000 street-improvement bonds. We are informed, however, that no official
action has yet been taken in this matter.
Arcadia, Valley County, Neb.— Bond Sale.— On Dec. 15
1906 this town awarded $10,000 5 % 5-20-year (optional)
water-works bonds dated Dec. 1 1906 to the National Con­
struction Co. at par. Denomination $500. Interest annual.
Arlington, Mass.— Temporary Loan.— The Treasurer has
borrowed $25,000 for four months from Loring, Tolman &
Tupper of Boston at 5.86% discount.
Arlington, Calhoun County, Ga.— Bond Offering.— Pro­
posals will be received until 8 p. m ., Feb. 5, by L. L. Lyon,
Mayor, and the Town Council for the $25,000 5 % water­
works and electric-light bonds voted on Aug. 15 1906.
Certified check for $500 required. J. O. McNiel is Clerk of
the Town Council.
Ashtabula School District (P. O. Ashtabula), Ashtabula
County, Ohio.— Bond Sale.— On Jan. 8 the $40,000 4J^%
11 -year (average) coupon school-building bonds described
in V. 83, p. 1426, were awarded to Seasongood & Mayer of
Cincinnati at 105.388 and accrued interest— a basis of about
3 .9 0 % . Following are the bids:
S e a s o n g o o d & M a y e r , C i n . $42 ,1 5 3
A . B . L e a ch & C o ., C l i i c . . 4 2 ,0 7 0
H a y d e n , Jliller & C o .,C le v . 41,9 7 7
R u d o lp h K le y b o lt e & C o .,
C in cin n ati _____________ 4 1 ,9 4 8
O tis & H o u g h , C le v e la n d . 4 1 ,8 2 5
W e il, R o t h & C o ., C ln c ln . 4 1 ,8 2 5
A tla s N a t. B a n k , C ln c ln _ . 4 1 ,8 0 0
D e n is o n & F a r n s w o r th .C le . 4 1 ,7 2 5
W . R . T o d d & C o ., C in cin . 4 1 ,650

5 0 1L a m p r e c h t B r o s .& C o .,C le v $ 4 1,572
00 |P r o v .S a v .B k .& T r .C o .,C ln . 41,5 0 7
50 [M a c D o n a ld , M c C o y & C o .,
, - 4 1 ,5 0 5
C h ica g o ___________
00 I F . L . F u ller & C o ., C le v e . 4 1 ,4 6 5
00 I E m e r y ,A n d e rs o n & C o . .Cle. 4 1 ,4 6 5
00 i W . J . H a y e s & S o n s , C le v . 4 1 ,3 9 8
00 I N e w F ir s t X a t .B k .,C o lu m b . 4 1 ,3 5 0
50 IE . H . R o llin s & S o n s , C h i. 4 1 ,2 2 0
00 |U n . S a v . B k .& T r .C o .,C in . 4 1 ,2 0 0

71
00
50
50
00
00
00
00
00

Atlantic City, N J.— Bonds Proposed.— Local reports state
that at a meeting of the Council on Dec. 24 an ordinance pro­
viding for the issuance of $300,000 reservoir bonds was passed
to its first reading.
Aurora City, Hamilton County, Neb.— Bonds Voted.— O11
Dec. 22 the issuance of $15,000 railroad-aid bonds was au­
thorized. These bonds will not be put out until the com­
pletion of the road, which will be at least one year.
Ballard School District No. 50, King Co,unty, W ash.—
Bond Sale.— On Jan. 7 the $70,000 20-year gold coupon
building bonds dated Feb. 1 1907 and described in V . 83,
p. 1604, were awarded, it is stated, to the State of Washing­
ton at par for 3j^s.
Battle Lake, Ottertail County, Minn.— Bonds Voted.— By
a vote of 61 to 28 the electors of this village on Dec. 26 1906
authorized the issuance of the $8,000 4 % 20-year water and
light bonds mentioned in V. 83, p. 1548. We are informed
that it is the intention of the village to borrow the money
from the State.
Bayou Catfish Drainage District (P. O. Grosse Tete),
Iberville Parish, L a.— Bond Offering.— Proposals will be re­
ceived until Jan. 28 by Rev. F. Badeaux. Secretary, for
$52,000 5 % gold coupon bonds. Denomination $500.
Date Feb. 1 1907. Interest annual. Maturity part yearly
to 1931. Certified check for 10% of the amount bid required.
Bellefontaine (Ohio) School District.— Bond Offering.—
Proposals will be received until 7 p. m. Feb. 1 by Luther B.
Stough, Clerk Board of Education, for the folio wing bonds:
$12 ,5 0 0
1 2.5 0 0
1 2 .500
12.500
5.0 0 0
5 .0 0 0

4%
4%
4%
4%
4%
4%

bonds
bonds
bonds
bonds
bonds
bonds

m a tu rin g
m a tu rin g
m a tu rin g
m a tu rin g
m a tu rin g
m a tu rin g

$500
$500
S500
$500
$500
$500

y e a r ly
y e a r ly
y e a r ly
y e a r ly
y e a r ly
y e a r ly

b e g in n in g
b e g in n in g
b e g in n in g
b e g in n in g
b e g in n in g
b e g in n in g

M ch .
M ch .
S e p t.
S e p t.
M ch .
S e p t.

1
1
1
1
1
1

1916.
1916.
1916.
1916.
1931.
193 1.

Denomination $500. Date Feb. 1 1907. Interest semi­
annual. All unpaid bonds are subject to call after March 1
1917. Accrued interest to be paid by purchaser. Certified
check for 5% of the bonds bid for, payable to the Treasurer
of the Board of Education, is required.
Bethany, Harrison County, Mo.— Description of Bonds.—
We are advised that the price paid for the $6,000 4% electriclight-extension bonds recently sold (see V. 84, p. 61), was
par. Denomination $500. Date Jan. 1 1907. Interest
annual. Maturity Jan. 1 1927, subject to call after Jan. 1
1917.
Boston, Mass.— Sales for the Year 1908.— During the year
1906 this city issued $5,195,350 bonds. All of these sales
were recorded in the “ Chronicle” with the exception of
$300,000 3 ^ % water bonds taken by the Sinking Fund in
July. Temporary loans to the amount of $5,600,000 were
also negotiated during the year as follows:
$500,000 4 % lo a n d u e N o v . 1 1906. A w a r d e d In F e b ru a r y t o th e N a ­
tio n a l S h a w m u t B a n k .
1.000.000 4 % lo a n d u e N o v . 2 1906.
A w a r d e d in M arch t o sin k in g fu n d .
1.0 0 0 .0 0 0 4 % lo a n d u e N o v . 1 1906.
A w a r d e d In M ay t o bearer.
250 .000 4 % lo a n due N o v . 2 1906. A w a r d e d in M ay t o First
N a tio n a l
B a n k.
250 .0 0 0 4 % lo a n d u e N o v . 2 1Q0 6 . A w a rd e d in M ay t o S ta te N a tio n a l
B a nk.

J a n . 12 1907.J

THE CHRONICLE.

117

300 .000 4 % loa n d u e N o v . 2 190 6.
A w a r d e d In Ju n e t o S e c o n d N a tio n a l
B ank.
500 .000 4 % lo a n d u e N o v . 2 1906.
A w a r d e d in Ju n e t o N a tio n a l S h a w m ut Bank.
500 .000 4 % lo a n d u e N o v . 2 1906. A w a r d e d in Ju n e t o O ld C o lo n y T ru st
C o.
250 .000 4 % lo a n d u e N o v . 2 1906. A w a r d e d in Ju n e t o B o s to n S afe
D e p o s it & T r u s t C o.
200.000 4 % lo a n d u e N o v . 2 1906. A w a r d e d in Ju n e t o S ta te N a tio n a l
B a n k.
200 .000 4 % lo a n d u e N o v . 2 1906. A w a r d e d in Ju n e t o F irst N a t io n a l
Bank.
250 .000 4 % lo a n d u e N o v . 5 1906. A w a r d e d in J u ly t o M e rca n tile N a ­
tion a l B a nk.
150.000 4 % lo a n d u e N o v . 5 1906. A w a r d e d In J u ly t o N a tio n a l B a n k
o f R e p u b lic .
50,0 0 0 4 % loa n d u e -N o v . 5 1906. A w a r d e d In J u ly t o N a tio n a l B a n k
o f C om m erce.
[ 200 ,0 0 0 3
% loa n d u e N o v . 5 1906. A w a r d e d In A u g u s t t o B o s to n S afe
D e p o s it & T ru s t C o.

Chicago (111.) Sanitary District.— Purchasers of Bonds.—
It is now understood that N. W . Halsey & Co., Chicago,
secured $300,000 and two large investors $95,000 and
$35,000, respectively, of the $500,000 4 % coupon bonds
awarded on Dec. 26 at public subscription. These subscrip­
tions left only $70,000, or 14% of the issue, which was
taken by small investors. See V. 84, p. 61.

Bryan, Williams County, Ohio.— Bonds Defeated.— The
voters on Dec. 27 1900 defeated the proposition to issue the
§40,000 electric-light and water-works bonds mentioned in
V. 83, p. 1487. The vote was 282 “ for” to 196 “ against” —
two-thirds necessary to authorize.
Bonds Authorized.— On Jan. 1 the Village Council passed
an ordinance providing for the issuance of $10,000 5 % coupon
water-woncs and electric-light-plant extension bonds. De­
nomination $1,000. Date March 1 1907. Interest semi­
annually at the Village Treasury. Maturity $4,000 “ on or
before March 1 1911,” $3,000 “ on or before March 1 1912”
and $3,000 “ on or before March 1 1913.”
Buena Vista County (P. O. Storm Lake), Iowa.— Bond
S a le — On Dec. 18 1906 $23,000 of the $27,000 6 % Drainage
District No. 3 bonds offered but not sold on Oct. 4 (V. 83,
p. 1055) were awarded to F. B. Sherman & Co. of Chicago
a^ 104. Denomination $500. Date Jan. 1 1907. Interest
semi-annual. Maturity one-twelfth yearly beginning in
1910.
Buffalo, N. Y .— Bonds Authorized.— The Finance Com­
mittee lias authorized the Mayor and Comptroller to issue
not exceeding $340,000 4 % bonds to reimburse the tax-loan
fund. Securities will be dated Feb. 1 1907. Interest semi­
annual. Maturity one-tenth yearly.
Buncombe County (P. O. Asheville), N. C.— Bonds Pro­
posed.— This county is considering the advisability of issuing
from $250,000 to $300,000 coupon road-improvement bonds.
Burns, Harney County, Ore.— Bond Sale.— On Jan. 1 the
$4,000 5% 10-year gold coupon refunding bonds described
in V. 83, p. 1487, were awarded to I. L. Gault, Cashier First
National Bank of Burns, at 100.625— a basis of about 4 .92% .
A bid of par less $150 for attorney’s fees was also received
from Morris Bros, of Portland, Ore.
Cambridge, Mass.— Sales for the Y ear.— During the year
1906 the city of Cambridge disposed of $759,000 bonds as
follows:

$200,000 3 }£ % h o sp ita l b o n d s d a te d D e c. 1 1905 a n d m a tu rin g D e c. 1 1935.
25.0 0 0 3 .6 5 % sta b le b o n d s d a te d J u ly 9 1906 a n d m a tu r in g J u ly 9 1926.
5,000 4 % w a te r b o n d s d a te d S e p t. 1 1906 a n d m a tu rin g S e p t. 1 1946;
o p tio n a l S e p t. 1 1926.
100.000 4 % w a te r b o n d s d a te d S e p t. 15 1906 a n d m a tu rin g S e p t. 15 1 91 6.
36.000 4 % brid g e b o n d s d a te d O c t . 1 1906 a n d m a tu r in g O c t . 1 1936.
5,412 sid e w a lk assessm ent b o n d s.
71,312 sew er assessm ent b o n d s.
162,408 street assessm ent b o n d s.

25.000 4 % 4 0 -y e a r p a rk b o n d s d a te d S e p t. 1 1906. A w a r d e d t o M errill
O ld h a m & C o. a t 103 .05.
1 0 0 .0 0 0 4 % 4 0 -y e a r brid g e b o n d s d a te d A u g . 1 1906. A w a r d e d t o M errill,
O ld h a m & C o. at 106 .42.
50.0 0 0 4 % 4 0 -y e a r b r id g e b o n d s d a te d A u g . 1 1906. A w a r d e d t o M errill,
O ld h am & C o. a t 103 .05.
1 0 0 .0 0 0 4 % 2 0 -y ea r street b o n d s d a te d M a y 1 1906. A w a r d e d t o M errill
O ld h am & C o. at 105.50.
22 000 4 % 2 0 -y ea r street b o n d s d a te d A u g . 1 1906.
A w a r d e d t o M errill,
O ld h am & C o. a t 101.39.
33 000 4 % 2 0 -y e a r sc h o o l b on d s d a te d A u g . 1 190 6. A w a r d e d t o M errill
O ld h a m & C o. a t 1 01 .39.
8 .0 0 0 4 % 2 0 -y ea r s c h o o l b o n d s d a te d N o v . 1 1906. A w a r d e d t o th e
C em etery F u n d a t par.
6.000 4 % 2 0 -y ea r s c h o o l b o n d s d a te d N o v . 1 1906.
A w a r d e d t o th e
S inking F u n d a t p a r.
2 0 .0 0 0 3 H % 4 0 -y ea r b r id g e b o n d s d a te d Ja n . 1 1906. A w a r d e d t o M er­
r ill, O ld h a m & C o. a t 1 00 .25.
5 .0 0 0 4 % 4 0 -y e a r b rid g e b on d s d a te d S e p t. 1 1906. A w a r d e d t o M errill,
O ld h am & C o. at 103 .25.
3 5 .0 0 0 4 % 3 0 -y ea r sew er b on d s d a te d M a y 1 1906.
A w a r d e d t o M errill,
O ld h a m & C o. a t 107 .25.
2 5 .0 0 0 4 % 3 0 -y e a r sew er b o n d s d a te d S e p t. 1 1906. A w a r d e d t o M errill,
O ld h a m & C o. a t 102 .66.
5 0 .0 0 0 4 % 4 0 -y e a r b r id g e b o n d s d a te d A u g . 1 1906.
A w a r d e d t o M errill,
O ld h a m & C o. a t 103 .06.
2 5 3 .0 0 0 4 % 3 0 -y e a r w a ter b o n d s d a te d M a y 1 1906. A w a r d e d t o M errill,
O ld h a m & C o. a t 1 07 .25.
2 2 .0 0 0 4 % 3 0 -v e a r w a te r b o n d s d a t e d M a y 1 1906. A w a r d e d t o M errill,
O ld h am & C o. a t 1 0 2 .6 6 .
5 .0 0 0 4 % 3 0 -y ea r w a te r b o n d s d a te d M a y 1 190 6. A w a r d e d t o S inking
F u nd at par.

Canyon City, Fremont County, Colo.— Bonds Defeated.—
The election held Dec. 31 1906 resulted in the defeat of the
proposition to issue water-works bonds. The vote was
175 “ for” to 178 “ against.”
Carney Independent School District (P. O. Carney),
Haskell County, Texas.— Bonds Registered.— The State
Comptroller on Jan. 4 registered $3,000 5 % 20-year schoolhouse bonds dated Oct. 1 1906.
Cass County (P. O. Fargo), N. D .— Bond Sale.— On Dec. 31
1906 the $91,039 (amount reduced from $106,090 by pay­
ment of assessments) coupon drainage assessment bonds
were awarded to MacDonald, McCoy & Co. of Chicago at
100.10 and interest for 6s. See V. 83, p. 1605, for descrip­
tion of these bonds.
Cedar Rapids, Linn County, Iow a.— Bond Election.— This
city, according to local reports, will hold an election Feb. 12
for the purpose of voting on a proposition to issue $125,000
city-hall-building bonds.
Cedarville, 111.— Bond Sale.— This town has disposed of
an issue of $3,000 bridge bonds.
Cheviot, Hamilton County, Ohio.— Bond Sale.— On Dec. 27
the $1,590 5 % 1-10-year (serial) Harrison Avenue assessment
bonds dated Oct. 29 1906 and described in V. 83, p. 1368,
were awarded to the Cosmopolitan Bank & Savings Co. of
Cincinnati at 101.21 and interest.




Cincinnati, Ohio.— Sales for the Y ear 1906.— The City of
Cincinnati put out during the calendar year 1906 $9,302,132
bonds. Of this aggregate the sales of $8,697,000 were re­
corded in these columns from time to time. The remaining
$605,132 issues were practically all taken by the Sinking
Fund at par. They are as follows:

Bond Offering.— Proposals will be received until 12 m.
Feb. 8 by Elmer G. Pryor, Clerk Board Trustees “ Com­
missioners of Water Works,” for the $1,000,000 4% coupon
additional water-works bonds mentioned in V . 83, p. 1605.
Denomination $500. Date Feb. 1 1907. Interest semi­
annually at the American Exchange National Bank, New
York City. Maturity Feb. 1 1947, subject to call after
Feb. 1 1927. Certified check on a national bank for $20,000,
payable to the Board of Trustees “ Commissioners of Water­
works,” required. Bidders must use printed form of pro­
posals furnished by the Clerk. Bonds will be delivered
Feb. 15.
Cloverdale School District (P. O. Cloverdale), Putnam
Countjr, Ohio.— Bond Offering.— Proposals Avill be received
until 12 m. Jan. 19 by Stephen Lowe, Jr., Clerk Board of
Education, for $8,000 6 % school-building bonds. Au­
thority Sections 3991 and 3992 of the Revised Statutes,
election held Nov. 6 1906 and resolution passed Dec. 21
1906. Denomination $500. Date Jan. 19 1907. Interest
semi-annual. Maturity $500 yearly on Jan. 19 from 1909
to 1924 inclusive. Certified check for $500, payable to the
Board of Education, is required. Accrued interest to be
paid by purchaser.
Coatesville, Chester County, Pa.— Bond Election.— Re­
ports state that the question of issuing $100,000 water bonds
will be submitted to a vote in February.
Crawford County (P. O. Denison), Iowa.— Bonds De­
feated.— We have just been advised that the proposition to
issue $20,000 poor-farm bonds, submitted to a vote on
Nov. 6 1906, failed to carry.
Dayton, Ohio.— Sales for the Y ear.— The city of Dayton
placed during the year 1906 $641,050 bonds, of which
amount the report of the sales of $567,920 appeared in the
“ Chronicle” from time to time as they occurred. The re­
maining $73,130 bonds were all taken by the Sinking Fund
at par and answrer to the following descriptions:
$2,700
1,900
3.000
8,2 0 0
16,000
1,400
2.0 0 0
1,850
2.600
5,1 0 0
4.600
23,780

4%
4%
5%
5%
5%
5%
4%
5%
5%
4%
5%
6%

1-year G e o rg e S tre e t e x te n s io n b o n d s , d a te d Ja n . 1 1906.
1-y e a r C oa tes A v e . e x te n s io n b o n d s , d a te d Jan . 15 1906.
8 -1 0 -y e a r (serial) O ’ Bell C o u rt p a v in g b o n d s , d a te d F e b . 15 ’ 06.
3 -1 0 -y e a r (serial) S ew er N o . 4 b o n d s , d a te d M arch 1 1906.
3 -1 0 -y e a r (serial) S ew er N o . 5 b o n d s , d a te d M a rch 1 1906.
1-y e a r A lle y o p e n in g b o n d s , d a te d A p ril 1 1906.
1 -year R iv e r Im p r o v e m e n t b o n d s , d a te d Ju n e 1 1906.
1 -y e a r H o lt S tre e t o p e n in g b o n d s , d a te d Ju n e 15 1906.
1 -y e a r H o s p ita l b o n d s , d a te d Ju n e 15 1906.
2 -y e a r w a te r-w o rk s -im p r o v e m e n t b o n d s , d a te d Ju n e 15 190 6.
1 -y ear C en tral C o u rt b o n d s , d a te d S e p t. 1 1906.
1-y e a r b o n d s fo r va rio u s im p ro v e m e n ts .

Delaware County (P. O. Delaware), Ohio.— Bond Offering.
— A . S. Conklin, County Auditor, will offer at public auction
1 p. m-. Jan. 15 an issue of $102,000 4% coupon road-improvement bonds. Authority, Section 6 of an Act passed
April 4 1900 and Section 22b of the Revised Statutes.
Denomination $510. Date Sept. 1 1906. Interest semiannually at the County Treasurer’s office. Maturity $5,100
each six months from March 1 1907 to Sept. 1 1916 inclusive.
Bonds are exempt from taxes. Certified check for $1,000,
drawn on some bank in Delaware County, and made payable
to the County Auditor, is required.
Denton County, (P. O. Denton), Texas.— Bonds Regis­
tered.— On Dec. 26 1906 $12,500 bridge refunding and $25,000
court-house refunding 4 % 5-40-year (optional) bonds, dated
Oct. 10 1906, were registered by the State Comptroller.
Douglas County (Wash.) School District No. 150.— Bond
Sale.— On Dec. 28 1906 a $1,500 6 % 5-year building bond
dated Dec. 28 1906 was awarded to A. E. Case of Waterville
at par. . Interest annual. A bid of par was also received
from W m . D. Perkins & Co. of Seattle.
Eagle Pass School District (P. O. Eagle Pass), Maverick
County, Tex.— No Action Yet Taken.— No action has yet
been taken looking towards the issuance of the $30,000 5 %
10-30-year (optional) school-building bonds voted on N ov.15.
Edmonton, Alberta.— Bids Rejected.— All bids received
on Dec. 18 1906 for the seventeen issues of 43^% and 5 %
debentures, aggregating $540,487 57, were rejected. See
V. 83, p. 1427, for description of these securities.
Ellicott Union Free School District No. 6, Chautauqua
County, N. Y .— Bonds Not Yet Sold.— No disposition has
yet been made of the $34,200 4 % coupon school-building
bonds mentioned in V. 83, p. 1427.

THE CHRONICLE

118

Fall River, Mass.— B ids.— The following bids were re­
ceived on Jan. 3 for the-$56,000 4 % 50-year registered New
Bedford and Fairhaven bridge bonds awarded, as stated in
V. 84, p. 61, to Blake Bros. & Co. of Boston at 104.19 and
accrued interest:
B la k e B ros. & C o ., B o s t o n ___ 104 .19 |N. W . H arris & C o ., B o s t o n . 104 .089
B lo d g e t , M erritt & C o ., B o s t . 1 0 4 .1 7 4 1M errill, O ld h a m & C o . , B o s t .1 0 3 .4 1 9
R . L . D a y & C o ., B o s t o n ______104.0971 E s t a b r o o k & C o ., B o s t o n _____1 03 .196

Sales for the Year.— This city sold during the year 1906
$280,000 4 % bonds, all of which were recorded in the “ Chron­
icle” at the time. Temporary loans to the amount of $459,000 were also negotiated, the $359,000 not yet reported
being as follows:
$10 0,00 0
1 00 ,000
7 6.0 0 0
33,0(T0
5 0.000

9 -m on th s lo a n , n e g o tia te d w ith S in k in g F u n d a t 4 % d is c o u n t.
4 -m o n th s lo a n , n e g o tia te d w it h lo c a l m ills a t 4 M % d is c o u n t.
2 -m o n th s lo a n , n e g o tia te d w ith lo c a l m ills a t 4 % d is c o u n t.
5 4 -d a y lo a n , n e g o tia te d w ith lo c a l m ills a t 4 % d is co u n t.
3 5 -d a y lo a n , n e g o tia te d w it h lo c a l m ills a t 4 ) 4 % d is co u n t.

Fort Scott, Bourbon County, Kan.— Bonds Authorized.—
Ordinance No. 995, providing for the issuance of $10,000
5 % coupon South Judson Street improvement bonds, was
passed by the City Council on Dec. 18. Denomination
$1,000. Date Jan. 1 1907. Interest semi-annually at the
fiscal agency of the State of Kansas in New York City.
Maturity $1,000 yearly on Jan. 1 from 1908 to 1917 inclusive.
Frankfort Township, Clinton County, Ind.— Subsidy
Election.— On Feb. 12 an election will be held in this town­
ship to vote on the question of granting a subsidy of $50,000
in aid of the Tipton Frankfort & Attica Traction Line.
Gadsden, A la.— Bonds Voted.— The election Dec. 31 1906
resulted in a vote of 193 to 10 in favor of issuing the $20,000
5 % school-building bonds awarded on Nov. 15 to Steiner
Brothers of Birmingham at par and accrued interest. See
V. 83, p. 1369.
Grand Haven, Ottawa County, Mich.— Bonds Not Yet
Sold.— No sale has yet been made of the $60,000 5 % 10-year
sewer bonds bids for which were rejected on Nov. 19. The
securities are now in the hands of the Finance Committee
for disposal.
Hart, Oceana County, Mich.— Bond Offering.— Proposals
will be received until 7:30 p. m ., Jan. 26, by I. B. Day harsh,
Village Clerk, for $400 6 % sewer bonds. Denomination
$100. Interest annual. Maturity $100 yearly on Jan. 26
from 1908 to 1911 inclusive.
Hartford, Conn.— Washington School District.— Bonds
Proposed.— This district, it is stated, will petition the General
Assembly for authority to issue $100,000 funding bonds.
Hastings, Barry County, Mich.— Bonds Voted.— On Dec. 27
1906 this city authorized the issuance of the $35,000 4 %
paving bonds mentioned in V. 83, p. 1427, by a vote of 329
to 118. Date of sale not yet determined.
Haverhill, Essex County, Mass .— Temporary Loan.— This
city recently borrowed $35,000 from Loring, Tolman & Tupper of Boston at 5 .73% discount. Loan matures April 29.
Hays, Allegheny County, Pa.— Bonds Not Sold.— Bond
Offering.— No sale was made on Jan. 1 of the $2,500 municipal-building-site, the $9,000 municipal-building-construction
and the $8,500 funding 4J^% 25-year bonds described in
V. 83, p. 1548. Proposals are again asked for these bonds,
this time until Feb. 5.
Heidelberg, Jasper County, Miss.— Bonds Not Sold.—
Local papers state that no disposition has yet been made
of the $8,000 6 % registered public-school bonds offered on
Oct. 2 1906. See V. 83, p. 775, for description of these
securities.
Hubbard, Hardin County, Iow a.— Bonds Not Sold.— No
award was made on Jan. 1 of $3,000 5 % 10-15-year (optional)
water-works bonds offered on that day. Denomination $500.
Date Jan. 1 1907. Interest semi-annual.
Ithaca, Tomokins County, N. Y . — Bond Offering. — Pro
posals will be received until 8 p. m. Jan. 17 by the Board
of Sewer Commissioners for $22,000 4 % gold coupon sewer
bonds. Denomination $1,000. Interest Jan. 1 and July 1
at the Fourth National Bank in New York City. xMaturity
$1,000 in 1922, $7,000 in 1923, $7,000 in 1924 and $7,000
in 1925.
Bonds Authorized.— The Common Council on Jan. 2 author­
ized the Creek, Drainage and Park Commission to issue
$100,000 bonds.
Jamestown Union Free School District, N. Y . — Bids Re­
jected.— The following bids, received on Jan.7 for the $105,000
4 % grammar-school bonds described in V. 83, p. 1606, were
rejected:
E . S e y m o u r & C o ., X . Y ____ a l0 0 .4 7 | W . J. H a y e s & S o n s , C le v e _ .fll0 0 .0 3
_______
|S A . K e a n , C h ic a g o ................. . . & par
a A n d a c c r u e d in terest, b Less 1 % co m m is s io n .

Jefferson County (P. O. Watertown), N. Y .— Bond Offer­
ing.— Proposals will be received until 12 m. Jan. 16 by
Fred. W . Mayhew, County Treasurer, for $70,000 4%
registered highway and $20,000 4% registered almshouse
improvement bonds. Denomination $5,000. Date Feb. 1
1907. Interest semi-annually at the office of the County
Treasurer. Maturity $5,000 highway bonds yearly on Feb. 1
from 1912 to 1925 inclusive; $5,000 almshouse bonds yearly
on Feb. 1 from 1908 to 1911 inclusive. Certified check for
$1,500, payable to the above-named County Treasurer, is
required. Bonded debt at present,_$45,000; floating debt
$ 2 0 ,0 0 0 .




[V ol.

l x x x iv .

Jenkins County (P. O. Millen), Ga.— Bonds Voted.— On
Dec. 27 the voters of this county authorized the issuance of
$43,000 court-house and $15,000 bridge-building 5 % 20-year
bonds.
Lake Butler, Bradford County, Fla.— Bond Offering.—
Proposals will be received until Jan. 28 by M. H. Markey,
City Clerk, for $5,000 6 % gold coupon school-building bonds.
Denomination $1,000. Date Jan. 1 1907. Interest payable
in Lake Butler. Maturity Jan. 1 1937. “ Bids for more
than 5 % discount” will not be considered. Bonded debt,
this issue. Assessed valuation for 1906, $120,71 5.
Lakewood, Cuyahoga County, Ohio.— Bond Sale.— On
Jan. 7 the $31,329 5 % 6 % -year (average) coupon Summit
Sewer District No. 5 assessment bonds described in V. 83,
p. 1489, were awarded to the Cleveland Trust Co. of Cleve­
land at 103.257 and accrued interest— a basis of about 4 .4 0 % .
The following bids were received:
C lev elan d T ru st C o ., C l e ..$ 3 2 ,3 4 9 50 I W . J. H a y e s & S o n s, C l e ..$ 3 2 ,1 4 4 00
O tis & H o u g h , C le v e la n d - 32,378 5 2 | S p itze r & C o ., T o l e d o ____ 3 2 ,077 00
E m e r y , A n d e rs o n & C o.,C le 3 2 ,2 0 6 5 0 1D e n iso n & F a rn sw o r th ,C le . 32,050 50

Lancaster, Fairfield County, Ohio.— Bond Sale.— Follow­
ing are the bids received on Jan. 3 for the S3,385 33 5 %
Fifth Avenue sewer assessment bonds described in V. 83,
p. 1489:
F a rm e r s ’ & C itizen s’ B a n k ,
H o c k in g V a lle y N a tio n a l
L a n c a s t e r ________________ $ 3 ,485 33
B a n k , L a n c a s te r ________ $3,441 33
T h e Su g ar G ro v e B a n k ____ 3,449 65 S o m e rse t B a n k __________3 ,4 2 0 87
E . C. R u tte r , L a n c a s te r ___ 3 ,4 4 6 60 H a y d e n , M iller & C o ., C l e . . 3,399 83

Latonia, Kenton County, K y .— Bond Offering.— Proposals
will be received until 7.30 p. m. Jan. 15 by W . H. Dye,
City Clerk, for S3,700 Park Avenue and $5,800 Church Street
6 % improvement bonds. Denomination $100. Interest
semi-annual. Maturity ten years, subject to call after five
years.
Lawndale School District, Los Angeles County, Cal.—
Bond Offering.— Proposals will be received until 2 p. m.
Jan. 14 by the Board of Supervisors for $2,300 5 % school
bonds. Denomination $460. Maturity $460 yearly on
Jan. 14 from 1908 to 1912 inclusive. Certified check for
5 % required.
Leesburg, Loudoun County, V a.— Bond Sale.— This town
has awarded the $30,000 4^1% coupon water-works bonds
mentioned in V. 83, p. 848, to N. W . Harris & Co. of Chicago
at par. Denomination $1,000. Date Sept. 1 1906. In­
terest February and August. Maturity twenty years.
Leipsic School District (P. O. Leipsic), Putnam County,
Ohio.— Bond Sale.— On Jan. 3 the $35,000 4J^% 11-20-year
(serial) coupon school-building bonds described in V. 83,
p. 1549, were awarded to Hoehler & Cummings of Toledo,
at 104.88 and interest— a basis of about 4.073% . Following
are the bids:
H oeh ler & C um m lngs, T o l . $36 ,7 0 8
W e ll, R o t h & C o . , C in c ln . 3 6 ,7 5 5
E m e r y , A n den n m & C o .,
C le v e la n d ____ ~ ________ 36,6 5 2
L a m p re ch t B ros. & C o .,C le 3 6 ,6 5 6
D e n is o n & F a rn sw o r th ,
C le v e la n d a n d B o s t o n . . 3 6 ,5 0 8
H a y d e n , M iller & C o ., C le . 3 6 ,5 0 7
W . R . T o d d & C o ., C in ___ 36,5 0 0

00 |F. L . F u lle r & C o ., C l e v e .$ 3 6 ,4 1 0
50 I O tis & H o u g h , C in c in n a ti. 3 6 ,3 8 6
|S e a s o n g o o d & M a y e r , C in . 36,361
1 5 (S . A . K e a n , C h ic a g o --------- 36,301
00 |B reed & H a rriso n , C in c ln . 36,3 1 2
|W . J. H a y e s & S o n s , C le . - 36,1 4 7
75 |S e c u r ity B a n k ------------------- 3 6 ,0 6 7
00 I M a c D o n a ld , M cC o y & C o .,
001
C h ic a g o ________________ 3 5 ,5 0 5

00
75
00
00
50
00
50
00

Lethridge, Alta.— Debentures Withdrawn from M arket.—
We are informed that the $69,913 20 water-works-improvement debentures offered but not sold on Aug. 18 1906 (V. 83,
p. 714) have been withdrawn from the market for the time
being.
Likely School District, Modoc County, Cal.— Bond Sale.—
On Dec. 22 1906 S I,000 6 % school-building bonds were
awarded to the First National Bank of Alturas at par. No
other bids were received. Denomination S100. Date Jan.
2 1907. Interest annual. Maturity from one to ten years,
unpaid bonds being subject to call at any time.
Lindsay, Ont.— Debentures Defeated.— By a vote of 246
for to 526 against, a by-law providing for the issuance of
$20,000 4 ^ % filtration debentures failed to carry at the
election held Jan. 7.
Little Falls, Herkimer County, N. Y .— Loan Authorized.—
The Mayor and City Treasurer have been authorized to bor­
row $15,000 for the School Fund.
Livingston, Park County, Mont.— Bids.— Following are
the bids received on Dec. 31 1906 for the $25,000 6 % 10-20year (optional) coupon sewer bonds awarded, as stated in
V. 84, p. 62, to N. W . Harris & Co. of Chicago:
N . W . H arris & C o ., C h ic ..a /j$ 2 6 ,7 5 0 ! J o h n N u v e e n & C o ., C h ic a g o $ 26 ,125
U n io n B k . & T r . C o ., H elenaa26,7011 S ta te B d . o f L d .C o m m ’ r s .H e l 26,0 0 0
S e a s o n g o o d & M a y e r, C in c in . 2 6 .5 7 2 IS . A . K e a n . C h ic a g o ...........-.n 2 a .6 2 a

T h o s . J. B oig er C o ., C h ic a g o . 26,250 E . H . R o llin s & S o n s , D e n v e r
C. H . C o llin , C h ic a g o ............... 26,126
(fo r 5 s ) ------------- ---------------K a n e & C o ., M in n eap olis
(fo r o y i s ) -------------W
V a»
h B la n k b o n d s,
ah A c c r u e d in te re st
a A n d a c c r u e d Interest,
b la n k b o n d s .

000
and

Louisa, Louisa County, V a.— Bond Sale.— This town has
awarded the $6,000 5 % coupon sidewalk bonds mentioned
in V. 83, p. 925, to local parties.
Lumberton, Robeson County, No. Caro.— Bond Offering.—
Proposals will be received until 12 m. Jan. 28 by W . O.
Thompson, Mayor, for $20,000 water-works-extension and
$5,000 electric-light-extension 6 % gold coupon bonds. Au­
thority Chapter 215, Acts of 1899, and Chapter 334, Acts of
1905. Denomination $500. Date Feb. 1 1907. Interest

J a n . 12 1907. j

THE CHRONICLE.

semi-annually at the National City Bank in New York City.
Maturity Feb. 1 1937, subject to call after Feb. 1 1927.
Bonds are exempt from town taxes. Certified check for
$500, payable to the Ma 3ror, is required. Bonded debt, in­
cluding this issue, $55,000; floating debt $10,000. Assessed
valuation for 1903 $800,000.
Manassas, Prince William County, V a .— Bonds N ot Y et
S old .— Up to Jan. 10 no award had yet been made of the
$50,000 4 % water, electric-light and street-improvement
bonds mention of which was made in V . 83, p. 1057.
Manchester, Hartford County, Conn.— N o A ction Y et
T a k en .— No action has yet been taken in the matter of offer­
ing the $125,000 4 % coupon funding bonds mentioned in
V . 83, p. 776.
Manila, Philippine Islan ds.— Bonds O ffered.— W m . A .
Read & Co. of New York City, through our advertising
columns, are offering at 1 0 8 ^ $1,000,000 of the 4 % regis­
tered gold bonds of Manila awarded to them on Dec. 19 1906.
For details of bonds see V . 83, p. 1245.
M anitoba.— D ebentures N ot S old .— No sale has yet been
made of the five issues of 4 % 30-year debentures, aggre­
gating $274,000, offered on Dec. 20 1906. See V . 83, p.
1428, for description of these securities.
Marshall, Harrison County, T e x .— Bonds N ot to B e Issued
at P r esen t.— W o are informed that the $50,000 paving,
$90,000 sidewalk and $45,000 city-hall bonds mentioned in
V. 83, p. 586, will not be put on the market before March.
M assachusetts.— B ond S a les.— The following bonds, of
which no previous mention was made in these columns,
were sold at par during the year 1906.
$15,000 314% Hospital for Epileptics bonds dated Nov. 27 1906 and ma­
turing Nov. 1 1936.
40.000 3H% Prisons and Hospitals bonds dated Nov. 27 1906 and ma­
turing Nov. 1 1936.
40.000 zy.% State House bonds dated July 2 1906 and maturing Oct. 1
1918.
2,000 3 A % Armory bonds dated Oct. 16 1906 and maturing Sept. 1 1934.
Temporary loans to the amount of $ 4 ,245 ,00 0, in an­
ticipation of revenue, were alsonegotiated during the
year as follows:
Amount.
Date of Loan.
Maturity.
Rate.
Nov. 10-12 1906
4M %
$350,000 .......... ............ -Feb. 27 1906
50.000
______ .Mch. 1 1906
Nov. 10-12 1906
4 3-16%
200.000
Mch. 1 1906
Nov. 15
1906
4 3-16%
150.000
Mch. 5 1906
Nov. 15
1906
4 3-16%
100.000
Mch. 5 1906
Nov. 10-12 1906
4H %
100.000
Mch. 6 1906
NOV. 10-12 1906
4 3-16%
75.000
Mch. 7 1906
Nov. 10-12 1906
4 3-16%
200.000
Mch. 8 1906
Nov. 10-12 1906
4 3-16%
100.000
Mch. 12 1906
Nov. 10-12 1906
4 3-16%
30.000
Mch. 12 1906
Nov. 10-12 1906
4H %
140.000
Mch. 19 1906
Nov. 10-12 1906
4
%
25.000
Mch. 20 1906
Nov. 10-12 1906
4
%
100.000
------- Apr. 9 1906
Nov. 10-12 1906
4VS %
100.000 - ____ ________ Apr. 13 1906
Nov. 10-12 1906
4%
%
50.000
Apr. 14 1906
Nov. 10-12 1906
4H %
100.000 ............. ........... Apr. 16 1906
Nov. 10-12 1906
4% %
200.000
May 8 1906
Oct. 25
1906
4
%
125.000
Aug. 21 1906
Oct. 22
1906
4U %
100.000
Aug. 30 1906
Nov. 15
1906
4H %
250,000._______ _____-Aug. 30 1906
Nov. 15
1906
5
%
50.000
Aug. 30 1906
Nov. 15
1906
oH
%
500.000
Aug. 31 1906
Oct. 20-22 1906
5
%
50.000 .....................--Sept. 12 1906
Nov. 5
1906
5
%
100.000
Sept. 13 1906
Nov. 5
1906
5
%
100.000
______-Sept. 13 1906
Nov. 15
1906
5
%
$3,345,000
In anticipation of assessments for Metropolitan Districts and Armories:
Amount.
Date of Loan.
Maturity.
Rate.
$300,000 ........................-May 9 1906
Nov. 10-12 1906
4%%
100.000
Mav 14 1906
Nov. 15
1906
4V»%
500.000 .........................June 29 1906
Nov. 15
1906
4 %
$900,000
Maysviile School District (P. O. M aysville), Mason County,
K y .— B onds N ot to B e O ffered at P resen t.— W e are advised
that this district will not be in the market until July with the
$60,000 4 % school-building bonds voted on N ov. 6 1906.
Medford, M a ss.— Loan A u th orized .— This city has author­
ized an issue of $10,000 improvement notes.
Medford, Jackson County, Ore.— Bond O fferin g .— Pro­
posals will be received until Feb. 11 by Benj. M, Collins, City
Recorder, for $45,000 5 % refunding bonds. Denomination
$500.
Date March 5 1907. Interest semi-annually in Med­
ford or New York City. Maturity twenty years. Certified
check for 5 % of the amount bid, payable to the city of
Medford, is required.
Miami County (P. O. Peru), In d .— B onds N ot S old .— No
bids were received, “ presumably on account of pending liti­
g a t io n /’ for $280,000 3J ^ % court-house bonds offered on
Jan. 2 1907.
Middletown, Ohio.— Bond S a le.— On Jan. 7 $1,155 20
4 % coupon Tytus Avenue improvement assessment bonds
were awarded to the Oglesby & Barnitz Co. of Middletown
at 100.519 and accrued interest. The bids were as follows:
Oglesbv & Barnitz Co.,
|Merchants’ National Bank,
Middletown..................«$1,161 20 | Middletown ..................a$l,158 00
a And accrued Interest.
Authority Section 75 of the Municipal Code. Denomina­
tion $115 52.
Date Dec. 13 1906. Interest semi-annually
at the National Park Bank in New York City. Maturity
$115 20 yearly on Dec. 13 from 1907 to 1916 inclusive.
Mississippi.— Bonds A w arded in P a r t.— On Jan. 2 $20,000
of the $500,000 3 ^ % 20-year coupon refunding bonds de­
scribed in V . 83, p. 1428, were awarded to the First National
Bank of Jackson, Tenn., at par. Subsequently the Governor
disposed of $25,000 more of these bonds, making the total
amount of bonds sold $45,000.




119

Montreal Protestant School District, Que.— Bond Sale.—
On Jan. 9 the $275,000 4% 30-year bonds mentioned in V.
84, p. 62, were awarded, it is stated, to R . Wilson Smith &
Co. at 99.50.
Moore’s Mill School District (P .O . Moore’s Mill), Dutchess
County, N. Y .— Bond Offering.— Proposals were asked for
until 8 p. m. Jan. 14 by Geo. S. Wells, sole trustee, for
$1,400 5 % bonds. Maturity $280 yearly.
Morrison County (P. O. Little Falls), Minn.— Bond Sale.—
On Dec. 27 1906 this county, we are informed, awarded $71,795 01 6 % drainage bonds to U. M. Stoddard & Co. of Min­
neapolis at 101.40. Denomination $1,000. Date Jan. 1
1907. Interest semi-annual. Maturity Jan. 1 1917.
Mount Pleasant, Isabella County, Mich.— Bids Rejected.—
Local papers state that all bids received on Dec. 17 1906 for
the $20,000 4 % 1-20-year (serial) water-works bonds de­
scribed in Y. 83, p. 1490, were rejected.
Mount Vernon, Ohio.— Bonds Authorized.— The City Coun­
cil on Dec. 17 passed an ordinance providing for the issuance
of $1,500 5 % Burgess Street paving bonds. Denomination
$150. Date Dec. 31 1906. Interest annually at the office
of the Trustee of the Sinking Fund. Maturity $150 yearly
on Dec. 31 from 1907 to 1916 inclusive.
Napanee, Ont.— Debentures Voted.— On Jan. 7 this city
voted to issue $7,250 sewerage-system-extension debentures.
Date of sale not determined.
Neepawa, Man.— Debenture Sale.— This town, we are in­
formed, has awarded $13,300 5 % local-improvement de­
bentures to Wood, Gundy & Co. of Toronto. Maturity
twenty years.
Newark, Ohio.— Bonds Defeated.— On Dec. 31 the voters
defeated a proposition to issue $280,000 water-system bonds.
The vote was 1,100 "fo r ” to 903 “ against’.’— two-thirds
being necessary to authorize.
Newman Precinct, Saunders County, Neb.— Bonds De­
feated.— On Dec. 22 1906 a proposition to issue $15,000 railway-aid bonds was defeated by the voters of this precinct.
New Palestine, Hancock County, Ind.— Bond Sale.— This
town recently disposed of an issue of $1,500 4 ^ % fire-engine
bonds to Miss Anna Merlan at 104.50. Denomination $100.
Date Jan. 1 1907. Interest semi-annual. Maturity seven
years, subject to call two bonds yearly.
Nev/port News, Warwick County, V a.— Bond Election.—
An election will be held in this city Feb. 28 at which the
question of issuing $100,000 street-paving bonds will be sub­
mitted to a vote.
Newton, Newton County, Miss.— Bond Election.— It is
stated in local reports that an election has been ordered for
Jan. 15 to vote on the question of issuing $50,000 water­
works system bonds.
New York City.— Bond Issues.— During the month of
December the following issues of corporate stock were pur­
chased by the sinking fund as an investment:
P u rp o se—
In t.
W a t e r s u p p ly ......................................... .........
Do
do
_____________________ ; _____
F o r v a rio u s m u n icip a l p u r p o s e s _______
A ssessm en t b o n d s _______________________
G eneral fu n d b o n d s ____________________

R ate. M a tu r ity .
3
1926
3
1956
3
1956
3 /O n
or
a ft e r !
IN ov .
1 1007/
3
1930

A m o u n t.
$15 ,0 0 0 00
7 5 ,0 0 0 00
2 8 5 ,0 0 0 00
5 0 ,0 0 0 00
1 ,0 5 0 ,0 0 0 00

In addition to the above stock the following “ revenue
bonds” (temporary securities) were issued:
R evenue
R evenue
.R evenue
R evenue
R evenue

b o n d s — cu rren t e x p e n se s
b o n d s — cu rre n t ex p e n se s
b o n d s — s p e c i a l __________
b o n d s — s p e c i a l __________
b o n d s — s p e c i a l ..................

In t. R a te
4
%
5%
4y2%
4 !i %
5%

A m o u n t.
$ 1 0 0,00 0 00
1 3 ,7 3 0 ,7 7 0 00— $ 1 3 ,8 3 0 ,7 7 0 00
150,000 00
50,0 0 0 00
9 6 2 ,0 0 0 0 0 —
1 ,1 6 2 ,0 0 0 00

T o ta l rev en u e b o n d s .................... - ______________________________ $ 1 4 ,9 9 2 ,7 7 0 0 0

North Yakima, Yakima County, W ash.— Bonds Proposed.
— The question of issuing from $100,000 to $150,000 school
bonds is being talked of.
Orange, Essex County, N. J.— Bond Sale.— On Jan. 7 the
$54,000 4 % 30-year coupon funding bonds dated Jan. 1 1907
and described in V. 83, p. 1550, were awarded to N. W .
Halsey & Co. of New York City at 100.277.
Pasadena, Cai.— Bond Sale.— On Jan. 2 $125,000 electriclight and $75,000 fire-department 4 % bonds were awarded
to E. E. Webster of Pasadena at par and accrued interest.
There were no other bidders. Denomination $500. Date
July 1 1906. Interest semi-annual. Maturity $5,000
yearly on July 1 from 1907 to 1946 inclusive.
Pendleton, Umatilla County, Ore.— Description of Bonds.—
We are informed that the two issues of street-improvement
bonds, aggregating $7,030 33, mentioned in V. 83, p. 1607,
carry 6 % interest. These securities were awarded on Dec.
12 1906 to the Warren Construction Co. at par and accrued
interest. Denomination $250. Date Nov. 1 1906. Inter­
est semi-annual. Maturity Nov. 1 1916, subject to call after
one year.
Peru, Clinton County, N. Y .— Bond Offering.— Further
details are at hand relative to the offering of the $5,000 4 %
registered bonds mention of which was made in V. 84, p.
62. Proposals for these bonds will be received until Jan. 15
by W . R . Weaver, Town Supervisor. Denomination $500.
Date Jan. 1 1907. Interest annual. Maturity $500 yearly
on Jan. 1 from 1908 to 1917 inclusive. Bonds are exempt
from all taxation. Certified check for $200, payable to the

120

THE CHRONICLE.

Town Supervisor, is required. Total debt, including this
issue, $9,000. Assessed valuation $548,000.
Peru, Miami County,' Ind.— Bond Sale.— This city, it is
stated, recently awarded $25,000 4 % refunding bonds to
P. S. Briggs, representing MacDonald, McCoy & Co. of
Chicago.
Pine Bluff, Jefferson County, Ark.— Bond Offering.— This
city is offering for sale $13,000 6 % coupon Sewer District
No. 9 bonds. Denomination $500. Interest annual. Ma­
turity $2,500 March 15 1908, $2,500 March 15 1909 and
$2,000 yearly on March 15 from 1910 to 1913 inclusive.
R. B. Malone is Chairman of the Sewer Commission.
Ponoka, Alta .— Debenture Sale.— On Dec. 20 1906 the
$8,200 5 % coupon fire-protection and town-hall debentures
described in V. 83, p. 1309, were awarded to W . S. Evans of
Winnipeg at par.
Portsmouth School District (P. O. Portsmouth), Scioto
County, Ohio.— Bond O ffering.— Proposals will be received
until 12 m. Feb. 8 by William L. Read, Clerk Board of Edu­
cation, for $15,000 4 % High-School-addition bonds. Au­
thority Section 3,994 of the Revised Statutes. Denomina­
tion $500. Date Feb. 8 1907. Interest semi-annually at
the First National Bank of Portsmouth. Maturity $5,000
yearly on Feb. 8 from 1931 to 1933 inclusive.
Pueblo County (P. O. Pueblo), Colo.— Bonds Not Awarded.
— Among the bids received on Dec. 20 for the $350,000 10-20year (optional) refunding bonds, mention of which was made
in V. 83, p. 1431, were the following:
N . S. W a lp o le , P u e b lo (fo r 4 J ^ s )________________________________________ 101.11
M a so n , L ew is & C o ., C h ica g o (fo r 4 J^s)_________________________________ 101 .05
E m e r y , A n d e r s o n & C o ., C le v e la n d (fo r 4 J ^ s )--------------------------------------- 100 .50
S . A . K e a n , C h ica g o (fo r 5 s ) ------------------------------------------------------------------------101

No award was made.
Quincy, Mass.— Bond Sales.— The following sales, of
which we had no previous knowledge, were made by this
city in 1906. The city sold altogether $162,490 of bonds
but the results as to $56,850 of these disposals have already
been printed by us:
$ 20 ,000
2 0 .0 0 0
4,6 4 0
61.000

3 .6 5 %
3 .7 0 %
4%
4%

sew er b o n d s a w a r d e d t o J o s e „ P a r k e r & C o . o f B o s to n a t p a r .
w a te r b o n d s a w a r d e d a t p r iv a te s a le at par.
d e fic ie n c y b o n d s a w a r d e d a t p r iv a te sale at p a r .
s c h o o l b o n d s a w a r d e d a t p r iv a te sa le a t 1 0 0 .4 9 .

BOND C ALL

City of Galveston, Texas,
N o tic e Is h e r e b y g iv e n t o th e h o ld e rs o f th e
b o n d s o f th e C it y o f G a lv e s to n k n o w n as “ G al­
v e s t o n f o r t y - y e a r lim it d e b t b o n d s ,” issu ed b y
said c it y in th e y e a r 1 8 8 3 , a n d n u m b e r e d 904 ,
9 0 5 , 9 0 6 , 9 0 7 , 908 , 9 0 9 , 9 1 0 , 9 1 1 , 9 1 2 , 9 1 3 ,
9 1 4 , 9 1 5 , 9 1 6 , 9 1 7 , 9 1 8 , 9 1 9 , 9 2 0 , 9 2 1 , 922 ,
9 23 , 9 2 4 , 9 2 5 , 92 6 , 92 7 , 9 2 8 , 9 2 9 , 9 3 0 , 931 ,
9 3 2 , 9 3 3 , 9 3 4 , 93 5 , 9 3 6 , 93 7 , 9 3 8 , 9 3 9 , 940 ,
9 4 1 , 942 , 9 4 3 , 94 4 , 94 5 , 946 , 9 4 7 , 948 , 949 ,
9 5 0 , 9 5 1 , 952 , 9 5 3 , 95 4 , 955 , 9 5 6 , 957 , 95S,
9 5 9 , 9 6 0 , 9 6 1 , 96 2 , 96 3 , 9 6 4 , 9 6 5 , 966 , 967 ,
9 6 8 , 96 9 . 97 0 , 97 1 , 97 2 , 9 7 3 , 9 7 4 , 975 , 976 ,
977 a n d 978; e a ch o f said b o n d s b e in g fo r on e
th o u sa n d d o lla rs
($ 1 ,0 0 0 ), a n d e a ch d a te d
o n th e 1st d a y o f J a n u a ry , 1 88 3; t h a t i h e c it y
o f G a lv e s to n w ill re d e e m a t p a r t h e h erein ­
b e fo r e n a m e d a n d n u m b e r e d b o n d s u p o n th eir
p r e s e n ta tio n a t th e o ffic e o f th e T rea su rer
o f said c it y , a t G a lv e s to n , o n th e 1st d a y o f
F e b r u a r y , 1907, a n d a n y o f t h e b o n d s herein
d e s c r ib e d a n d d e s ig n a te d , w h ic h are n o t p re­
s en ted fo r r e d e m p t io n , as a fo r e s a id , o n th e 1st
d a y o f F e b r u a r y , 190 7, shall cease t o bear
in terest fr o m a n d a fte r said d a te . T h e b o n d s
h e r e b y d e s ig n a te d fo r r e d e m p tio n be in g th o s e
bea rin g t h e earliest d a te o f said “ G a lv e s to n
f o r t y -y e a r lim it d e b t b o n d s ” w h ic h are n o w
ou ts ta n d in g .
T . J. G R O C E ,
T rea su rer o f th e C ity o f G a lv e s to n , T e x a s .

William R, Compton
Bond & Mortgage Co,
M ACON, M I S S O U R I .
(E sta b lis h e d in 1889)

MISSOURI MUNICIPAL BONDS—
School, City, County and Drainage
Our list gives a wide selection of
many attractive issues in sizes of
$2,000 to S100,000
Opinion Chicago counsel, full legal
papers furnished
We buy direct and handle nothing on
•brokerage
Close buying, large volume and small
profit make our offerings attractive
Send for latest circular
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Kansas Qity references
W I l.L I A M It. C O M P T O N , P r e s id e n t.
4- W a r d e l l B u S ld ln s r -

[V ol.

Negotiations of temporary loans were as follows:

Rochester, N. Y .— Temporary Loans.-— The following bids
were received on Jan. 10 for $300,000 five months overdue
tax-loan notes, $237,500 five months notes in anticipation
of taxes and $100,000 eight months local-improvement
notes:
f a $ 3 0 0 ,0 0 0 -_ 5 .1 2 5 % a n d $12 p rem iu m
B a n k fo r S a v in g s, N e w Y o r k ____ \ a 2 3 7 ,5 0 0 .- 5 .2 5 %
a n d $12 p rem iu m
I 1 0 0 ,0 0 0 .- 5 .2 5 %
a n d $12 p rem iu m
j a $ 1 0 0 ,000 l o c a l ____________________ 4 .9 8 %
R o c h e s te r S av in gs B a n k , R o c h _ _ |
200 ,000 o v e r d u e t a x e s ________ 5 .4 5 %
f$ 5 0 ,0 0 0 lo ca l Im p r o v e m e n t -----------5 .2 5 %
G enesee V a lle y T ru st C o ., R o c h . _ \ 50,000 lo ca l im p r o v e m e n t-...........5 .2 0 %
I 50,000 o v e rd u e t a x e s -------------------5 .5 0 %
L ew is B . F ra n k lin , N ew Y o r k ---------$50 ,000 l o c a l - - 5 .2 5 % a n d $1 p r e m iu m
B r o a d w a y S a v in g s I n s t ., N . Y — $10 0,00 0 o v e r d u e t a x e s ____________ 5 .5 0 %
f $300,0001 _________________________ 5 .9 5 %
G o ld m a n , Sach s & C o ., N . Y ____ 2 3 7 ,5 0 0 /
I 100 ,000 ___________________________ 5 . 4 5 %
f$ 1 0 0 ,0 0 0 ____ 5 .7 5 % a n d $10 p r e m iu m
B o n d & G o o d w in , B o s t o n ________ \ 300 ,000
I 2 3 7 ,5 0 0 ____ 6 .0 0 % a n d $10 p r em iu m
a T h e se b id s w e re su ccessfu l.

St. Boniface School District No. 1188, Man.— P rice Paid
for Debentures.— We are informed that the price paid by
Wood, Gundy & Co. of Toronto for the $100,000 5 % coupon
school-building debentures awarded to them on Dec. 20 1906
Was 101.565.
Salamanca, Cattaraugus County, N. Y .— Bond Sale.—
This village awarded $11,242 40 paving bonds to the Sal­
amanca Trust Co. of Salamanca on Nov. 26 1906 at par
for 4.87s. Denominations: twenty bonds of $210 96 each
and twenty bonds of $351 16 each. Date Aug. 1 1906.
Interest semi-annual. Maturity $562 12 yearly on Aug. 1
from 1907 to 1926 inclusive.

N E W LO ANS.

N E W LOANS.

^ 4 1 ,0 0 0

^ 3 5 ,0 0 0

City o f St. Paul, Minn.,

Town of Hartsville, So. Oar,,

p ark : b o n d s .

6 % Coupon Bonds.

C ity C o m p tr o lle r s ’ O ffic e ,
S t. P a u l, M in n .. J a n u a ry 2, 1907.
S E A L E D P R O P O S A L S w ill b e r e c e iv e d a t th e
o ffic e o f th e C ity C o m p tr o lle r b y th e S in k in g F u n d
C o m m itte e until 12 o ’c lo c k , n o o n , o n J a n u a r y 16,
1 90 7, a n d o p e n e d a t t h a t t im e , fo r t h e p u rch ase
o f T w e n t y -F iv e T h o u s a n d ($ 25,000 00) D ollars
o f b o n d s o f th e C ity o f S t. P a u l, M in n e so ta ,
th e p r o c e e d s o f w h ic h are t o b e u sed fo r th e
p u rp o s e o f a d d in g t o its fu n d s a v a ila b le fo r
th e a c q u is itio n o f la n d fo r p a rk a n d p a r k w a y
p u rp o se s
by
p u rch a se
or
o th e rw is e .
T h e se
b o n d s are issu ed p u rsu a n t t o O rd in a n ce N o .
2 64 0, p assed b y th e C o m m o n C o u n cil a n d a p ­
p r o v e d D e ce m b e r 7 , 1906, a u th o r iz e d b y C h a p ter
235 o f th e L a w s o f t h e S ta te o f M in n e so ta fo r
th e y e a r 190 3, a p p r o v e d A p ril 17, 1903, as
a m e n d e d b y C h apter 91 o f th e L a w s o f M in n e­
s o t a fo r th e y e a r 1 90 5, a p p r o v e d M arch 31, 1905.
B o n d s in d e n o m in a tio n o f liv e h u n d re d o r o n e
th o u s a n d d o lla rs e a c h , as th e p u rch a se r m a y
de sire , w ith c o u p o n s a t t a c h e d a n d d a te d F e b ru ­
a r y 1, 1 90 7, a n d m a tu r e J a n u a ry 3 1 , 1937.
T h e y b e a r in terest a t th e ra te o f fo u r (4) p er
c e n t p er a n n u m , p a y a b le s e m i-a n n u a lly , Interest
an d p r in cip a l p a y a b le a t th e fin a n cial a g e n c y
o f S t. P aul In N ew Y o r k C ity , d e liv e ry o f b o n d s
t o b e m a d e a t th e C o m p tr o lle r ’s o ffic e , w h ere
p a y m e n t m u s t b e m a d e b y th e su ccessfu l b id d e r .
A ce rtifie d c h e c k p a v a b le t o t h e C ity T reasu rer
o f th e C ity o f S t. P a u l fo r t w o (2) per ce n t o f
th e p ar v a lu e o f th e b o n d s b id fo r m u st a c c o m ­
p a n y each b id th a t w ill b e co n s id e r e d .
B ids
w ill b e r e c e iv e d fo r all or a n y part o f th e lo t .
T h e C o m m itte e reserves th e rig h t t o r e je c t a n y
a n d all b id s.
P r o p o sa ls t o be m a r k e d “ B id s fo r P a rk B o n d s ”
a n d ad d ressed t o
L O U IS B E T Z ,
C it v C on iD troller.

S ealed p ro p o s a ls w ill b e r e c e iv e d b y th e B o a rd
o f C o m m ission ers o f P u b lic W o r k s o f th e T o w n o f
H a r ts v ille , S C ., u n til 12 o ’ c lo c k n o o n , F E B ­
R U A R Y 1S T 1 9 0 7 , fo r th e p u rch a s e o f F o r t y O n e T h o u s a n d D o lla rs ($ 4 1 ,0 0 0 00) liv e p er c e n t
c o u p o n b o n d s t o b e d a te d J a n u a ry 1st, 1 90 7, an d
p a y a b le f o r t y y e a rs a ft e r d a te , w ith th e p r iv ile g e
o f r e d e m p tio n t w e n ty y ea rs a fte r d a te .
In terest
p a y a b le J a n u a ry 1st an d J u ly 1st o f each y e a r at
B a n k o f H a r ts v ille , H a r ts v ille , S . C. T h e p u r ­
p o s e o f th is issu e o f b o n d s Is t o m e e t th e c o s t o f
c o n s tr u c tin g a n d o p e r a tin g a sy s te m o f w a te r
w o rk s a n d p la n t fo r sew erag e a n d lig h tin g p u r ­
p o s e s , fo r th e use a n d b e n e fit o f th e said t o w n .
T h e T o w n o f H a r ts v ille has n o p re s e n t b o n d e d
o r o th e r in d e b te d n e s s . C ertified c h e c k fo r $ 1 ,000 0 0 , p a y a b le t o th e o r d e r o f J. J. L a w t o n ,
C h a irm a n , t o a c c o m p a n y a ll b id s an d t o b e f o r ­
fe ite d in case o f failu re o f p u rch a se r t o c o m p ly
w ith his b id .
N o b id s fo r less th a n p a r a n d a c ­
cr u e d in te re st w ill b e co n s id e r e d .
R ig h t reserved
to r e je c t a n y o r a ll b id s. A d d r e s s all b ids t o th e
B o a rd o f C om m ission ers o f P u b lic W o r k s , H a rtsv llle , S. C ., a n d e n d o rse p la in ly o n th e e n v e lo p e
t h e w o r d s , “ B id fo r B o n d s .”
F o r fu r th e r in fo r m a tio n a p p ly t o th e C h airm an .
J . J . L A W T O N ! C h airm an .
F . A . M I L L E R S e c r e ta r y

Specialists in New Jersey Securities.

ElSELE & KlNC,
BANKERS,
M em bers o f N ew Y ork and P h iladelph ia
S to c k E x ch a n g e s.

Perry, C o ffin & Burr,

INVESTMENT BONDS,
60 State Street,

IN V E S T M E N T B O N D S
L ia tR u p o n

BOSTON
CLE V E LA N D an d P H IL A D E L P H IA

BOSTON.

D E L IV E R E D

IN F E W

req u est.

Denison & Farnsworth,
M UNICIPA L AND RAILROAD

BONDS.

W IT H O U T




7 5 7 -7 5 9 Broad S t.
NEWARK.

P riv a te W ire s to
N .Y . and P h ila d e lp h ia .

w ith ste e l-p ’ a te bord ers. o r lith ograph e d , o r part­
ly p rin ted fro m ty p e . I f th e latter, th en can be

x8i La Salle Street, Chicago.

.

$10 ,000 l-y e a r lo a n a w a rd e d in F e b . a t p r iv a te sale a t 4 % Interest.
5 0 .0 0 0 1-y e a r lo a n a w a rd e d in F e b . t o B o n d & G o o d w in a t 4 .3 3 % d is c o u n t.
5 0 .0 0 0 1 -y e a r lo a n a w a rd e d in A p ril t o F . S. M osely & C o. at 4 .3 5 % d is c ’t .
1 0 .0 0 0 1 -y e a r lo a n a w a rd e d in F e b . a t p riv a te sale at 4 % d is co u n t.
1 5 .0 0 0 1 -y e a r lo a n a w a r d e d in M arch a t.p riv a te sale at 4 % d is co u n t.
1 2 .0 0 0 1 -y e a r lo a n a w a r d e d in A p ril a t p riv a te sale a t 4 % interest.
1 5 .0 00 6 -m o n th s lo a n a w a r d e d in M a y a t p riv a te sale at 4 % d iscou n t.
1 0 .0 0 0 6rm o n th s lo a n a w a rd e d in Ju n e a t p r iv a te sale a t 4 % d iscou n t.
6 5 .0 0 0 6 -m o n tlis lo a n a w a rd e d in Ju n e t o B lak e B ros. & C o. a t 4 .5 3 % d is­
cou n t.
2 0 .0 0 0 4 -m o n t h s lo a n a w a r d e d in S e p t. t o L o r in g .T o lm a n & T u p p e r at
4 .9 0 % d is c o u n t .
5 0 .0 0 0 6 -m o n t h s lo a n a w a r d e d in S e p t. t o L o r in g , T o lm a n & T u p p e r a t
4 . 8 7 i 4 % d is co u n t.

Mac Donald,McCoy & Go,, BONDS W1TH OR
COUPONS
MUNICIPAL AND CORPORATION
BO N D S .

l x x x iv

DAYS

Certificates en graved in b e st m anner, o r Dartly
lith og rap h ed and partly p rin te d

ALBERT B. KIN G & CO., 206 Broadway, N. Y.

l is t

on

a p p l ic a t io n

.

SEAS0FG00D & MAYEK
H e r e a n ttle L ib r a r y B n lld ln g ,
C IN C S K N A T I.

THE CHRONICLE.

J a n . 12 1907.]

Santa Barbara, Santa Barbara County, Cal.— Bond Sale.—
On Jan. 3 the $40,000 4 ^ % gold coupon water-extension
bonds described in V. 83, p. 1550, were awarded to Alfred
Edwards of Santa Barbara at 105.0035 and interest. Fol­
lowing are the bids:
A . E d w a r d s , S a n ta B a r b . . $42,001
N . W . H a lsev & C o ., S. F . 4 2 ,023
A d a m s -P h ilU p s C o .,L o s A . 41,9 0 3
W . R . S ta a ts C o ., P a sa d ’ a 4 1 ,8 6 0
E . H . R o llin s & S on s, D e n . 4 1 ,812

4 0 1N . W . H arris & C o ., C h i c . $ 4 1 ,7 1 5
9 0 1L os A n g e le s T r u s t C o ____ 41,6 4 7
00 |H. P . L in c o ln _____________ 4 1 ,4 5 5
50 |F irst N a t. B k ., A ltu r a s
4 0 ,2 0 0
00 |

the question of issuing $40,000 court-house and $10,000 jail
5 % 1-25-year (serial) bonds.
Stockton, San Joaquin County, Cal.— Bond Offering.—
Proposals will be received until 2 p . m. Jan. 28 by Newton
Rutherford, City Clerk, for the $187,000 5 % gold coupo
street-improvement bonds mentioned in V . 83, p. 1432.
Denominations: 160 bonds of $1,000 each and 40 bonds^o'
$675 each. Date Feb. 1 1907. Interest semi-annually at
the office of the City Treasury. Maturity $4,675 yearly
on Feb. 1 from 1908 to 1947 inclusive. Bids must be abso­
lutely unconditional and must be accompanied by a certified
check for 5 % of the amount bid, payable to M. J. Gardner,
Mayor.
Stromsburg, Polk County, Neb.— Bond Sale.— This“ city
has awarded the $9,000 5 % 10-20-year (optional) waterworks-extension bonds dated Nov. 15 1906 and described
in V. 83, p. 1191, to V. E. Wilson, President of the^First
National Bank of Stromsburg.
Taunton, Mass.— Sales for the Year 1906.— During'“the
year 1906 this city disposed of $67,000 bonds. The..sales
of $40,000 of these bonds were recorded in the “ Chronicle”
at the time, the remaining $27,000 being as follows:

70
00
00
00

Senatobia, Tate County, Miss.— Bond Offering.— H . I.
Gill, Town Clerk, is offering at private sale S4,000 5 K %
coupon water and light-extension bonds. Denomination
$500. Date Feb. 1 1907. Interest April and October at
the Hanover National Bank in New York City or at the
Senatobia Bank in Senatobia. Maturity $100 yearly on
Feb. 1 from 1908 to 1926 inclusive and $2,100 Feb. 1 1927.
Bonded debt, including this issue, $28,900. Assessed valu­
ation $745,000.
Shelby County (P. O. Sidney), Ohio.— Bond Sale.— On
Jan. 7 the $19,000 4 % ditch-construction bonds and the
$2,000 4 % Pence Road improvement bonds described in
V. 83, p. 1608, were awarded to the Piqua National Bank of
Piqua at 100.10 and accrued interest. Bids of par and ac­
crued interest for both issues were also received from the
People’s Savings & Loan Association of Sidney and the Citi­
zens’ National Bank of Sidney.
Springfield, Mass.— Sales for the Y ear.— This city during
the year 1906 issued $273,000 bonds and negotiated $575,000
temporary loans as follows:

$9,000 4 % 1 0 -y e a r stre e t b o n d s d a te d Ju n e 1 1906. A w a r d e d J u ly 12 a t
....................
p r iv a te sale a t 101 .2 2 7 .
5,7 0 0 4 % 5 -y ea r street b o n d s d a te d Ju n e 1 1906. A w a rd e d t o th e S in k ­
ing F u n d o n A u g . 17 a t 100 .0 6 2 5 .
10,000 4 % 1 0 -yea r street b o n d s d a te d Ju n e 1 1906. A w a rd e d t o th e S in k ­
ing F u n d on O ct. 15 a t p ar.
2,3 0 0 4 % 1 -y ea r lire n o te s d a te d Ju n e 1 190 6. A w a rd e d t o th e S in k in g
F u n d o n A u g . 22 a t p a r .

$ 2 0 7 ,000a 4 % 2 0 -y e a r s c h o o l b o n d s d a te d N o v . 1 190 6, a w a r d e d M e rrill,
O ld h a m & C o. o f B o s to n a t 1 04 .979 .
2 6 .0 0 0 3 M % 2 0 -y ea r s c h o o l b o n d s d a te d Jan . 1 1 90 5, a w a r d e d S in k in g
F u n d a t p a r.
4 0 .000 Z } 4 % 1 -1 0 -y e a r (serial) fire b o n d s d a t e d N o v . 1 1 90 6, aw a rd e d
S in k in g F u n d a t par.
T em p o ra ry L oa n s.
$ 2 0 0 ,0 0 0 a lo a n d u e N o v . 5 190 6— B lak e B ro s. & C o . a t 4 .1 4 % .
1 5 0 ,0 0 0 a lo a n d u e N o v . 9 1906— A m e r ic a n W r itin g P a p e r C o . a t 4 J 4 % .
5 0 .000 lo a n d u e N o v . 8 1 90 6— S prin gfield In s t’ n fo r S a v in gs a t 4
% •
50.0 0 0 lo a n d u e N o v . 9 1906— A m e r ic a n W r itin g P a p e r C o . a t 4 } i % .
1 0 0 ,0 0 0 lo a n d u e N o v . 9 1906— M ass. M u t. L ife Ins. C o . a t 4)4%.
25.0 0 0 lo a n d u e N o v .
1906— I n d iv id u a ls a t 4
%.
a T h ese lo a n s h a v e a lr e a d y b e e n r e p o r te d in t h e “ C h ro n ic le .”

Stephens County (P. O. Toccoa), Ga.— Bond Election.—
An election will be held in this county Jan. 18 to vote on

ERVIN & COMPANY,
BANKERS,
$New York Stock Exchange,
em era ^
stock Exchange.

BOM1DS

FOE

IN V E S T M E N T .

43 Exchange Place,
New York.

Drexel Building,
Philadelphia.

H. W. NOBLE S COMPANY,
N ew Y ork .

D etroit .
Philadelphia.

M UN IC IPA L
AND

P U B LIC SERVICE CORPORATION!

Tecumseh, Neb.— Bond Election Proposed.— A petition is
being circulated requesting the City Council to call a special
election to vote on the question of issuing $15,000 electriclight-plant bonds.
Trumbull County (Ohio) Road District No. 1.— Bond
Offering.— Proposals will be received until 1 p. m ., Feb. 5,
by Jennie B. Griffith, Clerk Board of Road Commissioners,
at the County Surveyor’s office in Warren, for $74,000 5 %
coupon improvement bonds. Authority, Sections 4757-1
to 4757-21 inclusive of the Revised Statutes and amendments
thereto. Denomination $1,000. Date March 1 1907.
Interest semi-annually at the office of the County Treasurer.

INVESTMENTS.

INVESTMENTS.

R.

L.

JL*>S

DAY

&

CO.,

B A N K E R S,
35 Congress Street,
BOSTON.

3 Nassau Street,
NEW YORK.

New York City Bonds
E X E M P T FK O Tt S T A T E , C O U N T !
A N D C IT Y T AX ES

INVESTMENTS.

F. B. SHER
MUNICIPAL
AND
CORPORATION

& CO.

BONDS

2 0 5 L aS alle S treet, C H IC A G O

RANGE OF PRICES
FOR 24 YEARS.

Blodget, Merritt & Co ,

1 8 8 2 —1 9 0 5 .

BANKERS,

BONDS.

16 Congress Street, Boston.
S « NASSAU ST R E E T , N E W Y O R K .

OUR ANNUAL

Albert Kleybolte & Co.,

STATE, C IT I & RAILROAD BONDS.

THE FINANCIAL REVIEW

4 0 9 W a ln u t Street,
C IN C IN N A T I, O.

Municipal,
County, State,
a n d H ig h -G r a d e P u b lic
S ec u rities

S ervice

C orresp on d en ce Solicited

T H E SOUTH.

Adrian H. Muller & Son
A U C T IO N E E R S .

Regular Weekly Sales

QUO. B . EDW ARDS, PreeWent. Cbartartoa
OomoMMlai and Financial Ajrent. Bminen o a t o u k n

In &K porta ot the world. Sattataetory refmnooa.
E s t a b lis h e d 1 8 8 3 .

H. C. Speer & Sons Co.
First Nat. Bank Building, Chicago
C IT Y C O U N TY
AND T O W N S H IP




BONDS,

1887 issue,which gives 1882-1886
1892

u

(t

“

1887-1891

STOCKS and BONDS

1896

it

it

“

1891-1895

EVERY WEDNESDAY.

1901

a

t

“

1896-1900

1906

tt

tt

“

1901-1905

OF

Business Opportunities, Investment Office No. 65 W I L L I A M S T R E E T
Cernor Ptae Street.
Securities, Real Estate, Timber Mines,
Industrial Properties, Farm or Town
Mortages in all parts of the South.
METROPOLITAN INVESTMENT CO.,

Glvea a monthly range ot Stock and Bond Prices lor
five years. We can supply

A Financial Courtship
Or a Plea for Conservative
Investments

PRICE $2 PER COPY.

Some earlier issues may be had at $5 a
copy.

(By Frank W . Rollins)

The above book will be furnished
w i t h o u t cost on application to
E. H. ROLLINS & SONS, 21 Milk
St., Boston.

Commercial & Financial Chronicle
7 6 ^ PINE STREET, NEW YORK

THE CHRONICLE.

1 22

Maturity $9,000 each six months from March 11918 to Sept. 1
1920 inclusive, $10,000 March 1 1921 and $10,000 Sept. 1
1921. .^.Certified check for $500 required. •;
'
Toledo, Ohio.— Bond Sales.— The following bonds have
been .taken by the Trustees of the Sinking Fund at par:
56,627 44^ 5%
. •; ■ •
.
. .
■ . • •
313 50 5 %
.c . . ~ .

c o u p o n G en esee’ S treet N o . reassessm en t b o n d s.- D e n o m in a tlo n S670, e x c e p t o n e b o n d fo r $597 4 4 .
D a te N o v . 3 1906.
In terest M arcii 3 a n d S e p t. 3. M a tu r ity o n e b o n d e a ch s ix
m o n th s fro m M a rch 3 1907 t o S e p t. 3 1911 Inclu sive.
c o u p o n A lle y N o . 25 assessm ent b o n d s .
D e n o m in a tio n $80 ,
e x c e p t on e b o n d fo r $73 50.
D a te O ct. 30 1906.
In terest
M arch 30 an d S e p t. 30. M a tu r ity o n e b o n d ea ch s ix m o n th s
. •
fro m M arch 30 1907 t o S e p t. 30 1908 in clu siv e .
182 1515% c o u p o n A lle y N o . 24 assessm ent b o n d s .
D e n o m in a tio n $50 ,
e x c e p t on e b'ond fo r $32 15.
D a te O ct. 30 1906.
In terest
.. . • •
M arch 30 a n d S e p t. 30. M a tu r ity o n e b o n d each s ix m o n th s
fr o m M a rch 30 1907 t o S e p t. 30 1908 in clu siv e .
3,6 2 5 92J 5% c o u p o n S ew er N o . 956 assessm ent b o n d s.
D e n o m in a tio n
• ■
$ 3 7 2 , e x c e p t o n e b o n d fo r $295 92.
D a te S e p t. 21 1906.
■
• •
In terest s e m i-a n n u a l. M a tu r ity o n e b o n d e a ch s ix m o n th s
•"
fro m M a rch 21 1907 t o S e p t. 21 1911 in clu siv e .
S 2 7 jl5 T 5 % c o u p o n S ew er N o . 954 assessm ent b o n d s .
D e n o m in a tio n
$ 21 0, e x c e p t o n e b o n d fo r $197 15.
D a te O ct. 6 1906.
In terest M arch 6 a n d S e p t. 6. M a tu r ity o n e b o n d ea ch s ix
m o n th s fr o m M arch 6 1907 t o S e p t. 6 1908 in clu siv e .

Interest payable at City Treasurer’s office.
r 7Bond Offering.— Proposals will be received until 7:30 p. m .,
Feb. 6, by R. G. Bacon, City Auditor, for $103,793 77 5 %
coupon Sewer No. 937 assessment bonds. Authority, ordi­
nance passed by the City Council Dec. 17 1906. The city
will pay for printing nine bonds of $11,000 each and one
bond for $4,793 77; should the purchaser, however, desire a
greater number of bonds of lesser denominations, he will be
required to bear the additional expense. Date of bonds
Aug.^14 1906. Interest March 14 and Sept. 14 at the City
Treasurer’s office. Maturity $4,793 77 March 14 1908 and
$11,000 each six months from Sept. 14 1908 to Sept. 14 1912
inclusive. Certified check on a Toledo national bank for
5 % of the bonds bid for, payable to the City Auditor, is re­
quired. Accrued interest to be paid by purchaser.
ft-Turner County, Ga.— Bond Sale.— The $40,000 court
house, the"$19,000 road and the $11,000 jail 5 % bonds voted
on Nov. 17 1906 have been awarded to the Robinson-Humphrey Co. of Atlanta. Denomination $1,000. Date Dec. 1
1906. •Interest June and December. Maturity from one
to ^thirty %ears.

[V o l .

l x x x iv

.

Van Buren, Crawford County, A rk .— Bond Sale.— On
Jan. 1 $12,500 sewer bonds were awarded to E. E. Cooper
of Van Buren. Denomination $500. Date "about Feb. 1
1907.” Interest annual. Maturity ten years, subject to
call $3,000 in three years and $3,000 in six years.
Vidalia, Toombs County, Ga.— Bonds Voted.— By a vote
of 128 to 5 this town on Jan. 3 authorized the issuance of the
$14,000 water-works bonds mentioned in V. 83, p. 1609.
Visalia, Cal.— Bonds Defeated.— By a vote of 111 to 227
this city on Dec. 11 defeated a proposition to issue $35,000
sewer bonds.
Wahoo Precinct, Saunders County, Neb.— Bonds De­
feated.— An election held Dec. 22 1906 resulted in the de­
feat of a proposition to issue $5,000 railway-aid bonds.
Washington C. H ., Fayette County, Ohio.— Bond Offering.
— Further details are at hand relative to the offering oti Feb.
2 of the $6,500 4 % coupon city-hall bonds described in V. 83,
p. 1610. Proposals for these securities will be received until
12 m. on that day by James J. Flynn, City Auditor. Au­
thority Section 2835 of the Revised Statutes and ordinance
passed by the City Council Dec. 3 1906. Denomination
$500. Date Jan. 15 1907. Maturity $500 yearly on Jan. 15
from 1908 to 1920 inclusive. Bonds are exempt from all
taxes. Certified check for $100, payable to J. A . Edge,
City Treasurer, is required. Accrued interest to be paid by
purchaser.
Watertown, Jefferson County, N. Y .— Bonds Voted.— The
election held Jan. 8 resulted in a vote of 384 to 134 in favor
of issuing the $40,000 4 % engine-house bonds, mention of
which was made in V. 84, p. 64. Maturity April 1 1937.
Date of sale not yet determined upon.
Westfield, Union County, N. J.— Bond Sale.— On Dec. 31
1906 $30,000 4 ^ % 1-10-year (serial) improvement bonds
were awarded to the Elizabethport Banking Co. of Elizabeth
at 101. Denomination $1,000. Interest June and De­
cember.
Woonsocket, S. D .— Bond Sale.— This city has awarded
the $5,000 6 % 3-20-year (optional)_court-house-building-aid
bonds dated Oct. 20 1906 described in V. 83, p. 1372, to local
citizens at par.

M IS C E L L A N E O U S .

MISCELLANEOUS.

Atlantic Mutual Insurance Company Scrip
of All Years Bought and Sold.

OFFICEIOF THE

JOHN M. GILLESPIE,

ATLANTIC MUTUAL INSURANCE COMPANY.

Room No. 518 Atlantic Building,
49-51 W all Street,
NEW YORK.

R. A. Lancaster & Sons

New York, January 23rd, 1906.
The Trustees, in conformity with the Charter of the Company, submit the following statement of its affairs
on the 31 st of December, 1905.
Premiums on Marine Risks from 1st January, 1905, to 31st December, 1905................... 22,977,854 3^
Premiums on Policies not marked off 1st January, 1905.......................................................
616,5ol 57
Total Marina Premiums...................................... ......................................................................

$3,594,405 94

BA N K E R S,

Premiums marked off from 1st January, 1905, to 31st December, 1905............................

$3,012,213 96

NO 10 W A l.li STREET,
NEW YO RK,

Interest received during the year.............................................§295,738 65 ____________
Rent, less Taxes and Expenses. . . . . ......................................
99,338 33 $395,076 98

DEALEKS Ilf

Losses paid during the year which were estimated in 1904
and previous years..........................................................$271,100 60

INVESTMENT anti MISCELLANEOUS Losses occurred, estimated and paid in 1905.......................... 827,295 9o §1,098,396 5o
SECURITIES.
Less Salvages.............................................. $130,068 59
Sou th ern Securities a Specialty.

Re-insurances..............................................

35,947 85

166,016 44

$932,380 11

R E A D Y J A N . 15.

HAND-BOOK
OF

Railroad Securities

Returns of Premiums...................................................................... .............. •
$80,615 47
Expenses, including officers’ salaries and clerks’ compensation, sta­
tionery, newspapers, advertisements, &c......................................
S374.746 88
The Company has the following Assets, viz.:
United States and State of New York Stock, City, Bank and other Securities.................
Special deposits in Banks and Trust Companies....................................................................
Real Estate corner Wall and William Sts. and Exchange Place................ $4,299,000 00
Other Real Estate and claims due the Company.........................................
75,000 00
-------------------Premium notes and Bills Receivable...................................
.............................................
Cash in the hands of European Bankers to pay losses under policies payable in foreign
countries...........................................................................................................................
Cash in Bank...............................................................................................................................

85 ,198,042*00
1 ,583,212.84
4,,374,000 00
1,,127,674 83
175,632 33
257,865 62

Aggregating..................................................................................................................... §12,716,427 62

A dividend of Six per cent interest on the outstanding certificates of profits will be paid to the
(Issued Semi-Annually by the Publishers of the holders thereof, or their legal representatives, on and after Tuesday the Sixth of February next.
The outstanding certificates of the issue of 1900 will be redeemed and paid to the holders thereof
COMMEKCIAL & FINANCIAL CHRONICLE.)
or their legal representatives, on and after Tuesday the Sixth of February next, from which date all
interest thereon will cease. The certificates to be produced at the time of payment and canceled.
A dividend of Forty per cent is declared on the net earned premiums of the Company for the
vear ending 31st December, 1905, for which, upon application, certificates will be issued on and after
Tuesday the First of May next.
JANUARY EDITION.
By order of the Board.
G, STANTON FLOYD-JONES, Secretary
TRUSTEES.
TE R M S
W H. H. MOORE,
H E R BERT L. GRIGGS,
GUSTAV AMSINCK,
NIJHOliAS F. PALMER,
CLEMENT A. GRISCOM,
FRANCIS M. BACON,
H ENRY PARISH,
ANSON W. HARD,
$1 OO JOHN N. BEACH,
Price ol Single Copies,
DALLAS B. PRATT,
MORRIS K. JESUP,
W ILLIAM B. BOULTON,
GEORGE W. QUINTARD,
THEODORE P. JOHNSON,
To Subscriber* of the Chronicle,
73 VERNON H. BROWN,
A. A. RAVEN,
LEW IS CASS LEDYARD,
W ALDRON P. BROWN,
JOHN L. R IK E R ,
FRANCIS II. LEGGETT,
JOSEPH H. CHAPMAN,
DOUGLAS ROBINSON,
CHARLES D. LEVERICH,
GEORGE C. CLARK,
To Bankers and Brokers, in quantities,
GUSTAV H. SCHWAB.
LEANDER N. LOVELL,
CLEVELAND H. DODGE,
with their cards lettered In gilt on the
WILLIAM A. STREET,
GEORGE H. MACY,
CORNELIUS ELDERT,
cover, at special rates.
W ILLIAM C. STURGES.
CHARLES H. MARSHALL,
RICHARD H. EW ART,
EW ALD FLEITMANN,
A. A. RAVEN, President.
Commercial & Financial Chronicle,
CORNELIUS ELDERT, Vice-President,
THEO. P. JOHNSON. 2d Vice-President.
Pine Street, cor. Pearl Str«<5t, New York
JAMES L. LIVINGSTON, 3d Vice-President.




THE CHRONICLE.

J a n . 12 1907.]

x rx

^ 'r x i s x ^ j o m p a u i e s .

Mercantile Trust Co* C IT Y T R U S T
M em ber

fct, L c u is . -Vio
S t. L ou is C learing H ou se

50 ST A T E S T R E E T .
A s s o c ia tio n

B U N K E R H IL L B R A N C H :
C ity S qu are. C H A R L E S T O W N . M A S S .

Capital and Surplus, $9,500,000
F E S T U S J. W A D E ,
P res id en t.

W M . M A F F IT T .
T reasu rer

Commenced business N ov. I.-, 1S99
D E P O S IT S

N o v .1 6 , 1S01
£5,019,268 50
N ov.

15,

1202
$ 1 1 ,2 5 4 ,5 2 3 33

Nov.1 6 ,1S03 $11,851,679 92
Nov. 16,1904 $16,564,820 43
Nov. 16, 1905

$17,194,262 79

Nov. 16, 1906, $17,919,949 08
The Proof cf Good Service is Constant Growth

AMERICAN LOAN &
TRUST COMPANY,
-

T r a n sa cts a G eneral B a n k in g a n d T ru st
C o m p a n y B usiness.
In terest a llo w e d on D ep osits S u b je c t t o C h eck .
T ru steo u n d er M ortg a g es, T ra n sfe r A g e n t , and
R eg istra r.
B O A R D O F D IR E C T O R S :
N . W . J o r d a n , C h airm an .
C. F , A d a m s 2 d ,
W illia m A . G aston ,
R o d o lp h e L . A g a ssiz,
E lm e r P . H o w e ,
F . L o th r o p A m e s ,
N . VV. J o rd a n ,
H obart A m es,
J o h n L a w re n ce ,
E d w in F . A tk in s ,
J o h n S. L a w re n ce ,
F red erick A y e r ,
L e ste r L e la n d ,
C harles S . B ir d ,
S. E . P ea b od y,
A . G . B u llo c k ,
F ra n cis P e a b o d y J r .,
S am u el C arr,
R o y a l R o b b in s ,
G ilm er C la p p ,
H e n ry A . R e u te r ,
G o rd o n D e x te r ,
P . L . S a lto n sta ll,
W illia m R . D riv e r ,
R . P a u l S n ellln g,
F , C . D u m a in e,
F ra n k W . Stearn s,
E u gen e N . F o s s,
E u ge n e V . R . T h a y e r .
C harles W . W h ittie r ,
T . J E F F E R S O N C O O L ID G E J r ., P re sid e n t.
C H A R L E S L . B U R R I L L , V ic e -P r e s t. & T reas.
J . H . P E R K I N S . V ic e -P r e s id e n t,
E . A . C O F F I N , A s s t. T reasu rer.
C . H . B O W E N , S e creta ry.
_____________G . W . A U R Y A N S E N , A sst. S e c .

CEN TRAL
TRU ST COM PANY
OF ILLINOIS,
CHICAGO.

Capital,

= -

Surplus,

-

$2,000,000

-

500,000

C H ARLES G . D A W E S , President.
W . IR V IN G O SBO RN E, Vice-President*
A . U H R LA U B . Vice-President.
W ILLIA M R . D A W E S , Cashier.
L . D . S K IN N E R , Asst. Cashier.
MALCOLM M cDO W ELL. Asst Secretary.

BANKING, SAVINGS AND
DEPARTMENTS.

TRUST

TheTrust Company of
North America

5 0 3 -5 0 5 -5 0 7 Chestnut S t., Philadelphia.
C A P I T A L ______________________________ $ 1 ,0 0 0 ,0 0 0
AD AM A . STU LL, President.
H E N R Y G. B R E N G L E , 1st V ce-P res. & Treasurer.
JOS. S. C L A R K , 2d Vicc-Pres., Supcrv'g Trust D ept.
CIIAS. P. L IN E A W E A V E R , Sec. & Asst. Trust Officer
DIRECTORS.
Henry G. Brengle,
J. Levering Jones,
James Crosby Brown, Malcolm Lloyd,
John Cadwalader,
John Mcllhenny,
E . W . Clark Jr.,
Richard Wain Melrs,
Eekley B. Coxe Jr.,
Clement B. Newbold,
Edwin S. D ixon,
John W . Pepper.
Eugene L. Ellison,
Wt llam F. Read,
Joseph C. Fraley,
Frank Samuel.
Harry C. Francis.
Adam A. Stull,
H enry L. Gaw, Jr.,
Edward D . Toland,
Howard S. Graham,
Joseph R . Wninwright,
Samuel F . H ouston,
William D . Winsor.
A cts as E x e cu to r , T ru stee, R e g is tr a r , E t c .
P c c o m e s S u rety. C om p lete Set of Safe D e p o s it
V a u lts. In terest on D e p o s its .




BOSTON, MASS.

T ra n sa cts a G eneral T ru s t and
B a n k in g B u siness
In te re st A llo w e d on D e p o s its S u b je c t to CheckA cts as T ru stee under R a ilro a d and o th e r M ort­
g a g e s : also as A g e n t fo r the R e g is te rin g
and T ran sfer o f Stock.
A legal D e p o s ita r y fo r C o u rt F u n d s , and a u th o r ­
ized t o a c t as E x e c u to r , G u a rd ia n , A d ­
m in istra to r a n d T ru stee.
D IR E C T O R S .
P H I L I P S T O C K T O N , P re sid e n t.
Charles F . A d a m s 2d.
H e n r y C. J ack son ,
O rla n d o H . A lfo r d ,
G e o rg e E . K e ith ,
F . L o th r o p A m e s ,
G ard in er M . Lane.
J o h n S. B a rtle tt,
A r th u r L y m a n ,
T . Jefferson C o o lld g e J r ., M a xw e ll N o rm a n ,
Charles E . C ottin g.
R o b e r t T . P a in e 2d,
A lv a h C ro ck e r,
A n d r e w W . Preston.
L iv in g s to n Cushing.
R ic h a r d S. R ussell,
G e o rg e A . D ra per,
H o w a r d S to ck to n ,
W illia m F . D raper.
Charles A . S ton e,
W ilm o t R . E v an s,
Q u in cy A . S haw J r .,
F re d e rick P . F ish ,
N a th a n iel T h a y e r ,
R o b e r t F . H e rrick .
H en ry O. U n d erw ood ,
F ran cis L . H ig g ln s o n ,
W . S ew ard W e b b ,
S id n e y W . W in slo w .

Boston

Trust

B O A R D OF D IR E C T O R S :
Chairm an.
T . J e f f e r s o x C o o l id g e J r ., . . . .
G ord on A b b o t t,
R e g in a ld F o s te r,
O liv e r A m e s ,
G e o rg e P . G ardner,
C. W . A m o r y ,
R o b e r t F . H e rr ic k ,.
C harles F . A y e r ,
H e n r y S. H o w e ,
Sam uel Carr,
W a lte r H u n n e w e ll,
B . P . C h en ey,
T h o m a s L .L iv e r m o re ,
G e o rg e v . L . M e y e r,
T . J e ffe rso n C oolidge,
C harles E . C ottin g,
L a u r e n c e M in o t,
R ic h a r d O ln ey,
P h ilip D e x te r ,
E b e n S. D ra per,
N a th a n ie l T h a y e r,
G e o rg e F . F a b ya n ,
L u c iu s T u ttle .
F r e d e r ic k P . F ish ,
S te p h e n M . W e ld ,

BOSTON, HASS.

Company
M ASS

and

Acts as Trustee under Railroad and other
Mortgages and is authorized to act as Executor,
Guardian, Administrator and Trustee.

Capital = - = = $ 1,000 000
Surplus (Earned)
,

2 000,000

CHARLES E . ROGERSON, President
JAMES LONGLEY, Vice-President
W ILLIAM C. W ILLIAMS, Vice-President
G. E. GOODSPEED, Treasurer
W . L. W H ITN E Y , Assistant Treasurer
H E N R Y A. FENN, Sec.&Mgr. Sale Dep. Dept.
H. D. HEATHF1ELD, Assistant Secretary
F. J. BU R R AG E, Assistant Secretary

MISSISSIPPI VALLEY
TRUST CO.
FOURTH & PINE STS., ST. LOUIS
C APITAL. SURPLUS

and P R O F IT S

\®o

nnn

DIRECTORS
John I . Beetra
D . R . Francis
R . J . O'Reilly,M D
Wilbur F . Boyle August Gehner
H . Clay Pierce
James E . Brock S. E Hoffman
J. Ramsev Jr.
Murray Carieton Chas. H . Huttig James E . Smith
Charles Clark
Breckin’ge Jones R o b t.H . Stockton
Horatio N . Davis Nelson W .McLeod Julius S. Walsh
John D . Davis
Saunders Norveli Roila Weils
Aug- B . Ewing
W m D . Orthwein
OFFICERS
JU LIU S S . W AL SH , Chairman ot tne Board
B R E C K IN R ID G E JONES, President
JOHN D . D AVIS, Vice-President
SAM UEL E . HOKFMAN, Vice-Prcsldent
JAMES E . BR O C K , Secretary
HUG H R . L Y L K , Asst. Secretary
H E N R Y C- IBBOTSON , Asst. Secretary
C. H U N T T U R N E R Jr., Asst. Secretary
FR E D E R IC K V IE R LIN G , Trust Otlicer
H E N R Y SEMPLK AMES, Asst. Trust Officer
CH ARLES M . PO LK . Asst. Trust Officer
W ILLIAM G . L A C K E Y , Bond Officer
W M . McC. M A R TIN , Asst. Bond Officer
TOM W . B E N N E TT, Real Estate Officer
C. W . M OR ATH , Safe Deposit Officer

C

o

Author:zed to act as executor and to receive and
hold money or property in trust or on deposit ;rom
Courts ot Law or E quity, Executors, Administrators,
Assignees, Guardians, Trustees, Corporations and
Individuals.
Also acts as Trustee under Mortgages and as Traniter
Agent and Rezli^rar o£ Stocks and Bonds.
Interest Allowed on Deposits Subject to Check
OFFICERS.
D A V ID R . W H IT N E Y , President.
CH ARLES H . D A L T O N . Vice-President.
CH A RLE S F CH O A'IE , Vice-President.
F R A N K L IN H A V E N , Vice-President.
• •
JAMES R . H O O P E R , Actuary.
• ■ •
H E N R Y N . M A R R . Secretar .
.................
F R E D K W . A L L E N , Asst .Sec .<£Treas.
TH OM AS E . E A TO N , Asst. Treasurer
.................
FR AN CIS R . J E W E T i’. Trust Officer
BOARD OF DIRECTOR-,.
William E ndlcott, Chairman.
Walter C. Baynes.
Frederick P . Fish,
Alfred Bowditch,
Morris Gray.
Charles F . Choate,
Franklin Haven,
Alexander Cochrane,
James P.. H ooper,
Edmund D Codman,
James M. Prendergast,
1'. JeCTersor. Cooudge.
George S. Silsbee,
diaries H . Dalton.
Lawrence M. Stockton,
George Dextet.
Nathaniel Thayer,
Ph'lip Dexter,
George Wiggles worth,
William Farn=worth,
David R . Whitney.

Maryland Trust Co.
B A L T IM O R E .

G E N E R A L FINANCIAL. AN D F ID U C IA R Y
BUSINESS TRAN SACTED

isco n sin T r u s t
M IL W A U K E E .

$1 ,000,000
2,000 000

C A P IT A L ,
SU RPLU S

Interest Allowed on Deposits Subject to Check

W

= $7,000,000

T R A N S A C T S
A GENERAL
B A N K IN G
B U S IN E S S .
ALLOW S I N T E R E S T
ON
D A I L Y
B A LA N C E S
S U B JE C T
TO
CHECK.
TRUSTEE
UNDER M ORTGAG­
ES.
TRAN SFER
AGENT.
R E G IS T R A R .

AND

Transacts a General Trust
Banking Business.

A

Capital and Surplus,

The NEW ENGLAND
Safe Deposit TRUST COMPANY,

B O ST O N .

$ 1 ,0 0 0 ,0 0 0
$ 1 ,5 0 0 ,0 0 0

OLD C O LO N Y
T R U S T CO.

Capital & Surplus, = = $4,000,000

BOSTON, MASS.
C A P IT A L
S U R P L U S (E a rn e d ) -

CO,

BO STO N . MASS-

..,

CAPITAL,

-

*

$2,000,000

DIRECTORS
ioslah L . Blackwell,
Ernest H oen Jr.,
George Blumenthal,
George C. Jenkins,
G Clymer Brooke^
Joshua Levering.
II. Carroll Brown,
Oscar G . Murray.
John W Castles,
W aldo Newcomer,
B. Howell Griswold Jr.,
H enry F . Shoemaker,
A. Barton Hepburn,
James Speyer.
Grier Hcrsh.
H enry Walters.
OFFICERS
G R IE R H E R S H -_____ ,_____ ______ President
ALLA N M cLAN E_______ _____ Vice President
L. S, ZIM M ERM AN_______
_ Secretary
C A R R O L L VAN NESS.....................Treasurer
JE R V IS SPEN CE R J r „_ _ _ _ A s 6 t. Treasurer
IVAN S K IN N E R _____ _____ Asst, Secreta^-

T H E A U D iT C O M P A N Y
OF ILLIMOSS.
1137 First National Bank Building,

Capita,
Surplus,

- - - - - - -

-

$500,000
100.000

CHICAGO.

Transacts a General Trust Co. Business.

Public Accountants and Auditors.

Buys and Sells
High Grade Investment Bonds.

C. W. KN ISELY C. P. A.
President—Manager.

OFFICERS.
O L IV E R C. FU L L E R , President,
i R E D E R IC K K ASTEN , Vice-Pres. and Treasurer
G A R D N E R P . ST IC K N E Y . Secretary.
F R E D . C. BEST. Ass t ~ee.

Regular an d Special A udits to; Corporations, Firms
ana «nai> id u a ir. Hnancial and Physical Examinations
by experienced Au-Jitors and Engineers, lakes entire
cnarge ot accounts b.a Uuartfians, trustees. Executor*
and Receivers.

XX

THE CHRONICLE.

[V o l.

l x x x iy

.

Qxxxst (tiompmilzs.
Union Trust Company
OF NEW YORK

G u a ra n ty

T ru st

80 Broadway, New York.

C om pany

B ran ch :

C A P IT A L ,
STXMPLUS,

OF N E W Y O R K
MUTUAL LIFE BUILDING

Capital, 8 2 ,0 0 0 ,0 0 0

425 Fifth Ave., oor. 38th St.
-

9 1 ,0 0 0 ,0 0 0 OO
$ 7 ,9 0 0 ,9 0 S 0 4

AU THORIZED TO ACT AS
Executor, Administrator, Guardian
Receiver or Trustee

Surplus, 8 5 ,5 0 0 ,0 0 0

AND IS

INTEREST PAID ON CHECK ACCOUNTS AND ON CERTIFICATES OF DEPOSIT.
List of Carefully Selected Securities for Investment Mailed upon Application
O FFICE R S*
J O H N W . C A S T L E S , P resid en t.
O S C A R L . G U B E L M A N , V io e -P r e s id e n t.
A L E X A N D E R J. H E M P H I L L , V lc e -P r e s id e a t.
M A X M A T , M anager F oreign D e p a rtm e n t.
W M . C. E D W A R D S , T re a su re r.
E . C. H E B B A R D , Secretary.
F . C. H A R R I M A N , A ssista n t Treasurer.
R . C. N E W T O N , T ru s t O fficer,
R . W . S P E IR , M a n a g e r B o n d D e p o r tm e n t

Issues T r a v e le r s ’ L e tte r s o f C re d it a n d F o r e ig n D r a fts .

BAN K ER S T R U ST
C O M P A N Y

A L E G A L D E P O S IT A R Y F O R M ONEY.

Allows Interest on Deposits.
Receives Securities for Safe K eeping and
Collection o f Income.
TRUSTEES
J am es H e n r y Sm ith,
E dw ard K ing,
Charles H, T w eed,
R . T. W ilson ,
Ja m e s Speyer,
C h ar'es H . Leland,
R o b e rt W . (io e le t ,
H V an R . K ennedy
W illiam W oodw ard,
W E m len R o o se v e lt,
Alex. Sm ith C ochran,
J - s T . W oodw ard.
J o h n V . B T h ayer.
A u g u sta s W . K elley,
A m o r y S. Carhart,
N. P a rk er S h ortrid ge,
W a lte r P . Bliss.
H arrison R. Q-awtry,
F re d e rick d e P . F o s te r
A le x a n d e r M aitlan d .
E D W A R D K IN G . P residen t.
A U G U S T U S W . K E L L E Y . V ice -P resid en tJ. V . B. T H A Y E R . V ic e P re«i & S ecretary.
E. R . M E R R IT T , 4th V ice -P re sid e n t
C. C. R A W L IN G S , T r u s t O fficer.
H . M. P O P H A M ,
i
T .W . H A R T S H O R N E , > A s s is ta n t S ecretaries
H . M. M Y R IC K ,
J

7 W all Street, New York.
Capital 8 1,0 0 0 ,0 0 0
Surplus 8 5 0 0 ,0 0 0
Undivided Profits, 8 7 77 ,67 3

MANHATTAN
T R U S T CO.,

DIRECTORS.

W ALL S T. cor. NASSAU, NEW YO RK.

A. BARTON HEPBURN,

STEPHEN BAKER,
P res. Bank o f th e M a n h a ttan
C*., N ew Y ork .

8AM U EL G. BAYNE,
JAMES G. CANNON,
V ice -P re s. F ou rth Mat. B t N

Y

EDMUND C. CONVERSE,
P residen t.

Capital, Surplus and Undivided Profits,

GILBERT G. THORNE,

$ 3 ,0 0 0 ,0 0 0 .

V ic e -P r e s id e n t.

Pres. C hase N at. B a ck , N. Y .

THOMAS W. LA M 0N T ,
2d V ice-P resid en t.

P res. S eaboard N at. Bank, N Y .

JOHN F. THOMPSON,

GATES W. McGARRAH,

V ice-P res. Nat. P a rk Bank. N .Y .

EDWARD TOWNSEND,

P r e s .Im p o r te r s ’ & T ra d e rs ’ N at.
B ank, N . Y .

P res. M e ch a n ics’ N at. B’ k, N . Y

EDGAR L„ MARST0N,
Blair & Co., B ankers, N ew Y ork.

ALBERT H. WIGG1N,
V ic e -P r e s . C hase
N ew Y o rk .

GEO. W. PERKINS,

HENRY P. DAVISON

J . P . M organ & Co., B’ kers, N .Y .

V ic e -P r e s . F irst N at. B ank, N .Y

W ILLIA M H. PORTER,

P res. Com . N at. B a n c, C h icago.

DANIEL G. REID,

K idd er, P e a b o d y & Co., Bankers.
B o sto n .

SAMUEL WOOLVERTON,
P res. G allatin N at. Bank, N .Y .

V ice-P res. L ib e r ty N at. B ’k, N .Y .

W ALTER E. FREW,
V ice-P res. C o m E x ch a n g e Bank
N ew Y ork.

Bank.

ROBERT WINSOR,

Pres. C hem ical N at. B ank, N. Y .

JAMES H. ECK LS,

Nat-

EDWARD F. SWINNEY,
P re s. 1st N at. B ’k, K ansas City.

EDWARD F. C. YOUNG,
P res. 1st N at. Bank. Jersey C ity

Acta as Executor, Adm inistrator and Guardian | Aasltnec and Receiver i R egistrar.
Transfer and Fiscal Agent t and as Trustee for Individuals and corporations.
A L L O W S IN T E R E S T UPON D E P O SIT S.

J. F. T H O M P S O N

VICE-PRESIDENT

0 . E. PO M ER O Y

TREASURER

H. W. DO NO VAN

O F P ir F R < 5

Iv u n v ji

E. C. CO NVER SE

ASSISTAN T TREA SU RER

PRESID EN T

T . W. L A M O N T

SSX> VICE-PRXSIDltN7

b

. S TR O N G JR.

SECRETARY

F. N. B. CLOSE

ASSISTANT TRUST OFFICER

O F F lC E R S i

JOHN L WATERBURY, President.
JOHN KEAN,
I ViceAJttOS TUCK FRENCH, S Presidents.
W . N. DUANE, Vice-President.
T h e M anhattan T ru st C om pany r e ce iv es deposit*
bearin g in terest and s u b je ct t o ch eq u e, payabl»

through the New Vork Clearing House.
D IR E C T O R S .
James J. H11L

F ran cis R . A p p le to n .
R o b e rt B acon .
G e o rg e F. Baker.
A u g u s t B elm on t.
W a lte r P . Bliss.
H . W . C annon.
R. J. Cross.
R udulph Ellis,
A m o s T u ck F re n ch

J o h n K ean.
J o h n J. M itch ell.
O liver H . Payne.
E . D. R a n d olp h
G ra n t B. Schley.
8. L . 8ch oon m a k er.
Jo h n I. W a terb a ry
R . T w ii* o n .

Girard Trust Company.
We refer you to The Corporation Trust Com­

CAPITAL and SURPLUS, §10,000,000.
C h a r t e r e d 1836.

pany, 135 Broadway, New York, for information
regarding any point involved in the organization
and taxation of business corporations under the
laws of any of the States or Territories.

Acts as Execuior, Administrator, Trustee.
Assignee and Receiver.
Financial A cent lor ludividuals or
Corporations.
Interest Allowed on Individual and
Corporation Accounts.
Acta as Trustee ol Corporation M ortgages.
Depositary under Plunsol Reorganization.
Registrar and Transler Agent.
Assumes entire charge ol Real Estate.
Saien 1 0 Rent in JSurglar-Prool Vaults
15. B. M o r r i s . P residen t.
W . N. E l y , 1st V ice -P re sid e n t.
A. A . J a c k s o n . 2d V ice -P re sid e n tC. J. R h o a d s , 3d V ice-P res. and Treasurer.
E d w a r d S. P a g e . Secretary.

UNITED STATES
M ORTGAGE & TRU ST COM PANY
55 Cedar Street

NEW YORK

73dStreet andB'way

Capital and Surplus . $ 6 , 0 0 0 , 0 0 0
Undivided Profits . . . 838,000
Assets over . . . . 40,000,000

M ANAGERS i
r-ffiingnam B. M orris,
J o h n A . Brow n Jr.,
B en jam in W . R ich ard s,
J o h n B. G arrett,
W illiam H . Jenks,
W ilU am H . Gaw,
F ran cis I. G ow en,
G eo. H . YlcFadden,
H e n ry T atnall.
I s a a c H . Clothier.
T h o s. D e W it t cn y le r .

C. lla r tm a n K u h n
Jam es Speyer.
A u gu stu s D. Juilliard,
ICdward J. Berw lnd.
Randal M organ,
Edw . T . Stotesbury.
C harles E. Ingi-rsoll,
J o h n S tory Jen k s Jr.
TTenrv B. C o x e Jr.
E . C. F e lto n

N. E . C o n .Ilro a d an d Chestnut Streets,

P H IL A D E L P H IA .
IN VESTO R S READ

G E O R G E M . C U M M IN G . President

T h e W a ll S tre e t J o u rn a l,
T hat’ s why it pays advertisers.

Careful attention given all branches Trust and Banking Business




D O W , J O N E S & C O ., P u b lig h e r s ,
44 BROAD ST.. NEW YORK

THE CHRONICLE.

JAN. 12 1907.J

’g j n x s t

xxi

t& a m p m iU s.

incorporated 1853.

U n ites S ta te s T ru s t G o i p n g

o t He w

,

m

45 and 47 W a ll Street.

C A P I T A L , ...................................................... .......
SURPLUS AND UNDIVIDED PROFITS,
.
.
E D W A R D W . SHELDON, President
W IL L IAM M. KINGSLEY, Second Vice-Fres.
W ILFR ED J. WORCESTER, Asst. Secretary

$ 2 ,0 0 0 - 0 0 0
$12,801,04-6

D. W IL L IS JAMHS, Vice-President
HENRY E. AHERN, Secretary
CHAS. A. E D W A R 0 8 , 2d Atst. Secretary

JOHN A. STEW AR T, Chairm an o f the B oard o f Trustees.

Bowling Green Trust Co, C
26 BROADWAY* NEW YORK.

Capital, $1,000,000 Surplus, $3,000,000
O F F IC E R S :

EDWIN GOULD,
.
.
.
President
WILLIAM H. TAYLOR,
1st Vice-President
CHAS. P. ARMSTRONG,
2d Vice-President
JOHN A. HILTON, 3d Vice-Pres. and Treas.
W ILLIAM M. LAWS,
.
.
Secretary
D IR E C T O R S :

Charles P. Armstrong,

John A. Hilton.

F r a n k B ra in a rd ,
H a rry B ron n er,
V ra n k lin Q. B r o w n ,
R o b e r t C. Clo-wry,
E d m u n d C. C o n v e r se ,
W m . N e ls o n C r o m w e ll,
G r e n v ille M . D o d g e ,
A . G o e p e l,
E d w in G ou ld ,
F r a n k J. G ou ld ,
G e o r g e J . G ou ld ,

M y r o n T . H e r r ic k ,
E d w a r d T . J e ffe r y ,
W illia m W illis M e r rill,
W in s lo w S. P ie r c e ,
D ic k S. R a m sa y ,
F r e d e r ic k B. S c h e n c k ,
A n d r o w S qu ire,
W illia m H . T a y lo r ,
E d w a rd R . T h om a s,
J o h n P . T ru e s d e ll,
E . F . C. Y o u n g .

Rhode Island Hospital
Trust Company,
P R O V ID E N C E

R.' J.

C A P I T A L ...................................................S I , 0 0 0 , 0 0 0
S U R P L U S E A R N I N G S ................... 9 1 , 5 0 0 , 0 0 0
U N D I V I D E D P R O F I T S ................
3 0 4 ,0 0 0
D IR E C T O R S :
R o y a l C. T a ft ,
R ow lan d G. H azard,
R o b e r t H . L G od d ard ,
N eison W . A idrlch ,
G eo. W . R. M atteson,
Sam uel R. D orran ce.
W illia m D . E ly,
H o w a r d O. Sturties,
R o b e r t L G am m eli,
S tephen O. M etcalf,
W illia m B lnney,
W a lte r R. Callender,
W illia m B. W eed en , .
G ilb e rt A . Phillips,
E d w ard D . P ea rce,
E d w ard H o lb ro o k ,
R o b e rt K n ig h t,
Jam es E. Sullivan,
J o h n W . D an ielson ,
B en jam in M. J ack son ,
H e rb e rt J. W eils,
Joh n B. Freem an.
J oh n C, PeKram,
Charles S. M ellen.
L ym an B. Goll,
R o b e rt W . T a ft .
H E R B E R T J. W E L L S , P resid en t.
E D W A R D s. C L A R K , V ioe-P restden t.
H O R A T IO A . H U N T , V ice -P re s id e n t.
W I L L I A M A . G A M W E L L , Secretary.
P R E S T O N H . G A R D N E R . T r u s t O fficer.
C Y R U 8 E. L A P H A M , A sst. Sec’y.
JO H N E. W IL L IA M S . A sst. S ec’ y.
H K N R Y L . 8 L A D R R . A sst. S e c ’ y.
__________________ W A L T E R G. B R O W N , A sst, S ec’ y.

T

o l o n ia l

St. P a u l ffiB flding, 222 B r o a d w a y , N e w Y o r k .

Capital, Surplus and Undivided Profits,
R IC H A R D D E L A F IE L D ,
CO RD M E Y E R ,
JA M E S W . T A P P IN .
P H IL IP 8. B A BC O C K .

0

yc& k

b

)
f

.

t

o

0

T he A m e r ic a n M fg . C o .
T R U S T CO.

*

C H A R L E S T . B A R N BY, P re sid e n t.
F R E D ’ K L . E L D R 1D G E , 1st V ice -P re s id e n t.
J 0 8 E P H T . B R O W N . 2d V ic e -P r e s id e n t,
B. L . A L L E N , Sd V ice -P r e s id e n t.
W I L L I A M T U R N B U L L , 4th V . - P r e
F R K D ’ K G O R E K IN G , Sec. and Treas.
J. M cL E A N W A L T O N , A s s t. S ecretary.
H A R R I S A . D U N N , A s s t. T r e a s u r e




New

York.

Whiting Papers

HARLEM BRANCH:
W . F . L E W IS , ManaKer.

BRONX BRANCH:
JO H N B A M B E Y M anager.

For Fine Correspondence
and for General Business Uses are
standard, made in Ledger, Bond,
Linen and Fine Writing in variety.

ANNUAL.

WHITING PAPER CO.
New York. Philadelphia.

P in e St.. N ew Y o rk .

Chicago.

M ills: Holyoke, M ass.

BARROW, WADE, G U1HRIE & CO
CERTIFIED PUBLIC ACCOUNTANTS.
(N e w

Y ork a n d I llin o is .)

N E W YO RK,
B road
26

New York Cft>.

65 Wall Street,

W I L L I A M B. R A N D A L L , T ru st O ffice r

Commercial & Financial Chroniole,

8 3 9 Park R ow Bids., -

CORDAGE.

T R U S T D E P A R T M E N T:

NEW YOEK:

G A S W O R K S , E L E C T R IC L I G H T W O R K S ,
E L E C T R IC R A I L W A Y S , O IL M O T O R C A R S .

M ANILA SISAL AND JUTE

No. 6 0 B R O A D W A Y ,
3 4 T H S T . <fc F IF T H AVE.
No. 1 0 0 W E S T liiS T H ST R EE T .
T H IR D AVENUE «fc 1 4 8 T H S T R E E T .

O R G A N IZ E D 1897.

Consulting Engineer and Statistician.

$3,100,000

E D M U N D L . JU D S O N , Secretary.
J 0 8 E P H N. B A B C O C K . T m s t Officer.
R O B E R T L . S M IT H , A s s t. S ecre ta ry

i ^ Ic e -P r e s id e n ts .

A . Y e a r Bock of Statistics.
Bound In Cloth, 8 2 .

WilliamD. Marks, Ph.B.O.E,

-

JO H N E . B O R N E , P re sid e n t.

F IN A N C IA L R E V IE W

48 Cedar Stroet

o m p a n y

solicits the accounts of corporations, firms and individuals, and
invites correspondence or personal interviews.
Interest allowed on daily balances, which are subject to check
at sight
Certificates of Deposit (time and demand) issued.

T h e A u d it c o m p a n y
of N ew York,
P H IL A D E L P H IA .
C H 1C A U O
N E W E N G L A N D O F F IC E :
E a a te n B id s ., 1 5 S t a t e S t .. B O S T O N .
A U G U S T B E LM O N T,
A ctinjr P residen t.
W IL L IA M A N A S H ,
JO H N J. M I T C H E L j
G E O R G E W . YO U N G ,
V lo e - Presl den ts.
E D W A R D T . P B R IN E , G e n ’l M gr. and T reas,
F . C. R IC H A R D S O N , A ssista n t Treasurer.
T h is C om pany A u dits and In v e stig a te s A c c o u n t :
an d m akes Phystoal E xam in a tion s o f P r o p e r tie s
Its C ertificates and R ep orts are P rep a red in behalf
o f M erch an ts, Bankers, C orporations, C om m itteer
and oth ers, in strict c on fid en ce. T h e C om pa n y a',nr
D evises and in stalls M on ey -S a v in g 8 rst,em s o
K eeD inc A cco u n t*

C

r u st

E xch a n ge
B road

B u ild in g ,

S tr e e t.

CHICAGO,

SAN FRANCISCO,

R o y a l I n s u r a n c e B u ild in g .

5 1 7 M a rk et S tr e e t.

NEW ORLEANS,
H ib e r n ia B a n k B ld g .

LONDON, ENGLAND,
18

S t. S w ith in ’s

L a n e , E . C ., C a b l e , “ A d o r j e s t

XXII

Vol. lxxxiy.)

THE CHRONICLE.

g itm n c ia i.

IJitumcmL

W OODW ARD
GRANGER
& STILLMAN, P .VERSZ & COMPANY
FARWELL
BANKERS
C O T T O N M ERC HAN TS
37 P IN E ST.
& COMPANY,
16 to 22 WILLIAM STREET, 2 2 0 L A SA L L E ST.
NEW YORK

CHICAGO

NEW YORK.

RAILROAD BONDS

E G Y P T IA N A N D A M E R IC A N CO TTON O F A L L
G R A D E S S U IT A B L E TO W A N T S O F SP IN N E R S.
E s t a b l is h e d i n 185a

Henry Hentz & Co., CHICAGOCITYMORTGAGES.
COMMISSION MERCHANTS,
HIGH-GRADEINDUSTRIALBONDS.
CHICAGOREAL ESTATEBONDS.
CORPORATION I RAILROADBONDS.
16

to 2 2 W illia m S tre e t, N e w Y o r k .
E x e c u te O rd ers f o r F u tu r e D eliv ery

COTTON
A t th e N ew Y ork, L iv e rp o o l and N ew Orleans
C otton E x ch an ces. A lso ord ers fo r
TOFFEE
A t th e N ew Y ork Cottee E x ch an g e
G R A IN A N D P R O V IS IO N S
a t th e C h icago Board o f T rad e and
G R A I N A N D C O T T O N - S E E D O IL .
A t t n e iNew f o r k P r o d u ce E x cn a n g e

Hubbard Bros. & Co.,

SEND FOR CIRCULARS.

PEABODY, HGUGHTELING & CO.

226 La Salle S t,

71 Broadway

CHICAGO.

NEW YORK.

N e w Y o r k St;ock E x c h a n g e .
N e w Y o r k Coffee E x c h a n g e .
M em bers -j c HICAGO s t o c k E x c h a n g e .
( Ch ic a g o B o a r d of T r a d e .

DEALERS IN

INVESTMENT

SECURITIES.

2 3 0 First National Bank Rld<*.»

C O F F E E E X C H A N G E B U IL D IN G ,
H A N O V E R SQ U ARE,

BANKERS AND BROKERS,

CH ICA G O .
I E s t a b l i s h e d lSti5. i

NEW YORK.

COTTON

Edv/in L. Lobdell & Co.,

M ERCHANTS.

L ib e r a l A d v a n c e s M a d e on C o tto n
C o n s ig n m e n t s .

Hopkins, Dwight & Co.,

B AN KERS AND BROKERS,

R o tu n d a , K o o k cry B ld g ., Chicago.
SO B ro a d w a y , New Y o r k .
CNew Y o r k Stock E xch ange,
M em bers KC h icago Stock E x ch an ge,
( C h icago B oard o f T rad e.

COTTON .

and
C O T T O N -S E E D O II i.

COMMISSION M ERCHANTS.

Bishop, Laimbeer & Co.

Room 5 2, Cotton Exchange Building,
NEW YORK.

Members New York Stock Exchange.

L e h m a n , St e r n & C o. L im ite d . N ew O rleans, L a .

Mills Building:. - 15 Broad St.

LEHMAN BROS.,

© ottou.

Nos. 1 6 -2 2 W illia m Street, New Y o rk .
Members o f the Stock, Cotton, Coffee
and Produce Exchanges, New York.

IN M A N & CO.,

O rders e x e cu te d o n th e a b o v e E x ch a n g e s, as w ell in
N ew Orleans, C h icago and fo re ig n m arkets.

C o tto n M e rch a n ts,

COTTON MEBCHANTS
17 South William Street,
NEW YORK.

AND

Cotton Exchange Building, N E W Y O R K .
141 M ilk Street, BOSTON, M ASS.
IN M A N & CO

B rem en C orrespondents.

W. R. CRAIG & CO.,
L o r d ’s Cou rt Building,

COTTON COMMISSION MERCHANTS,
N E W OR LEAN S, L A .
M E M P H IS, TENN.
DALLAS, T E X .
Buyers o f Spot C otton. O rders fo r C on tracts E x e ­
cu ted in th e N ew Orleans, N ew York,
L iv e rp o o l and H a v re M arkets.

WILLIAM RAY & CO.,
SUCCESSORS

TO

Orders fo r fu tu re deliv ery co n tra cts e x e c u te d on
th e N ew Y ork and L iv erp o o l C otton E x ch anges.

R . H . R O U N T R E E & CO.,
Commission Merchants.
C otton , G rain , Provisions and C offee .
CO TT O N E X C H A N G E B U ILD IN G ,
N EW YO RK .

ROBERT MOORE & CO.,

COTTON FACTORS and
COMMISSON MERCHANTS,

N e w O rlean s.
O rders fo r fu tu r e d e liv e ry e x e cu te d in N ew Orleans
N ew Y o rk and L ive rp o o l.
Liberal a d v a n ce s m a d e o n C otton consignm ents.

NEW ORLEANS, LA.
O RD ERS FOR F U T U R E D E L IV E R Y EXECUTED
IN N E W O R L E A N S , N E W Y O R K A N D
L IV E R P O O L M A R K E T S .




W. T. HATCH & SONS,
BANKERS AND BROKERS,

96 Broadwav,

-

New York.

M EM BER S OF
N E W Y O R K STO CK E X C H A N G E .

1 Nassau Street, corner W all Street.
M em bers o f th e N ew Y ork Stock E x ch an ge.

Bonds, Stocks, Cotton, Grain.
D IC K B R O T H E R S & CO.,
B A N K E R S AND B R O K E R S ,
3 0 Broad St., New York.
Members of N . Y . and Philadelphia Stock Exchaa***,
New York, New Orleans and Liverpool Cotton
Exchanges, New York Collee Exchange
and Chicago Board of Trade.

(fto lio tL

Chapman, Selter & Allen, Stephen M. Weld & Co.,
COTTON B R O K E R S .
Cotton Exchange B l d g . , New York.
Members of N . Y . and New Or lean Cotton Exchanges
and Liverpool Cotton Association.

5 6 Beaver Street, New York.

Cotton Broker*,
COTTON E XCH AN G E BU IL D IN G ,

M em bers o f N ew Y ork and B o sto n Stock E xch anges

Successors to HAVEN & CLEMENT,

Lehman, Stern & Co.,Ltd-

GW ATHM EY & CO.,

O RD ERS FO R F U T U R E D E L IV E R Y EXECU­
T E D IN N E W Y O R K A N D L I Y E U PO O L E X ­
CHANGED
CO TTO N P U R C H A S E D F O R S P IN N E R S ’ USE.

SM
ITH & HAYNE,
Frank B. H a y n e (in Com m endam .)

In vestm en ts.

C o tto n M e rc h a n ts .

NEW Y O R K

L E H M A N B R O S., N ew Y ork.

COTTON B R O K E R S ,
4 3 Cotton Exchange,
New York.

H i g h - G rade

CLEMENT & SMITH,

-

(N E W Y O R K COTTON EXCH AN G E
Members •N EW ORLE AN S COTTON EXCH AN G E
N E W Y O R K COFFEE EXCH AN G E
L IV E R P O O L COTTON ASSOCIATION
Future Delivery Orders Executed on above Exchanges
Liberal Advances Made on Cotton Consignments

GEO. COPELAND & CO.,

BOSTON, MASS.

T el. N o. 161S B road.

2 7 W illia m Street.

Mason Smith & Co.,

BANKERS.

t E stab lish ed 1863. J

A UGU STA, G A „

Siegfr. Gruner & Co.,

F.H . PRINCE & CO.,

COTTON

49

COTTON MERCHANTS,

82-92 Beaver Street, - New York City.
B o s to n C o rre sp o n d e n ts, S. M . “W e l d & C o ., 89
S tate St., B o s to n , M ass.
L iv e r p o o l C o rr e s p o n d e n ts , W e l d & C o.
B re m e n C o rr e s p o n d e n ts , A l b r e c h t , W e l d <fc C o.

MERCHANTS,

C otton Exchange,

-

*

N ew Y ork.

Geo. H. McFadden & Bro.,
COTTON M E R C H A N TS,

f f m . P.Quentell.
It R . Coats.

Theodore H. Price,

Svecxal Portlier.

Quentell, Coats & Co,,

COTTON B R O K E R S ,
S2 Beaver Street,
New York,
Members N .Y . Cotton Exchange.
Associate Members Liverpool Cotton Association.

P H IL A D E L P H IA .

NEW Y O R K .

L iv e r p o o l Co r r e sp o n d e n t s :
F R E D E R IC Z E R E G A & CO.
B rem en C o r r e s p o n d e n ts :
M c K AD D E N B R O T H E R S & CO.
H a v r e C o r r e s p o n d e n ts :
SOCIETE D ’ l i l PORTATION ET DE COJIMIBS1" * '