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uherai
UNlV„ut
Bank &
Quotation Section
Railway Earnings Section
Railway & Industrial Section
Bankers’ Convention' Section
Copyrighted in 1910, by William B. Dana Company, New York.
VOL. 90.
Electric Railway Section
State and
Entered at N. Y, Post Office
as
NEW YORK, JANUARY 15 1910.
~
gtasttjclal.
~~
gitranxial.
City Section
second class mall matter.
NO. 2325.
gittatuial.
FISK & ROBINSON
BANKERS
AMERICAN BANK
NOTE COMPANY
BROAD Jb BEAVER STS., NEW YORK
Business Founded 1796.
Reorganized 1879
Government Bonds
THE LIBERTY
City of New York Bonds
NATIONAL BANK
Investment Securities
1
OF NEW YORK
'
.
I
Engravers -a* Printers
BANK
Members New York Stock Exchange
NE'V YORK- BOSTON
-
CHICAGO
NOTES, STOCK CERTIFICATES,
139 BROADWAY
BONDS FOR GOVERNMENTS AND COR¬
PORATIONS, DRAFTS, CHECKS, BILLS
OF EXCHANGE, STAMPS, ETC., WITH
SPECIAL SAFEGUARDS TO PREVENT
COUNTERFEITING /* LITHOGRAPHIC
AND
TYPE PRINTING
The National Park Bank Harvey
Fisk & Sons
NEW YORK
of New York.
fi RAILWAY
OBGANIXED 1866.
BANKERS
TICKETS OF IMPROVED STYLES
*3,000,000 00
Surplus and Profits........... 9,912,516 28
Deposits Rev. 16. 1909.-107,340,305 90
Branches in the United States
RICHARD DELAFIELD.
BOSTON
PHILADELPHIA
PITTSBURGH
SAN FRANCISCO
Capital
PRESIDENT.
JOHN CL MCKEON.
VICE-PRESIDENT.
VICE-PRESIDENT,
JOHN G VAN CLEAF.
VICE-PRESIDENT.
MAURICE H. EWER,
O. JONES,
WILLIAM A. MAIN.
FitEIPK a FOXCROFT.
Philadelphia, represented by
James H Chapman, 421 Chestnut St.
Chicago, represented by D. K. Drake,
218 La Salle 8t
CASHIER.
ASST. CASHIER.
INVESTMENT SECURITIES.
„
GILBERT Q. THORNE.
WILLIAM
Government, Railroad and
Municipal Bonds,
Boston, Mass., represented by
John B. Moulton, 85 Congress St
AB8T. CASHIER.
ASST. CASHIER.
Members oi Richmond and Baltimore Stock
Exchanges.
John L. Williams & Sons,
BANKERS,
Corner 9tii and Main Streets,
Edward B. Smith fit Co.
Fifth Avenue Building
Corner 5th Ave. and !ISrd St.
N
S3 Wall Street.
Capital,
-
-
-
Clearing House Building
Cog. ft Surp., S11.68S.119
Dep.. S106.600.000
A. B. HEPBURN. President
A. H. Wiggin, V.-Pres. C. C. Slade, Asst. Cash.
S. H. Miller, V.-Pres.
E. A. Lee, Asst. Cashier
H. M. Conkey, Cashier W. E. Purdy, Asst. Cash.
A. C. Andrews, Asst. Cashier
-
3,000,000
ORIGINAL CHARTER I8£9.
THE
Francis Ralston
Welsh,
IN VESTMENTS.
MUNICIPAL RAILROAD AND OTHER
BONDS.
828 CHESTNUT STREET. PHILADELPHIA.
EUUIFMfcSNI OF THE
NATIONAL
The
--CORNER NASSAU AND PINE
Merchants National Bank
of
—
IS
ESPECIALLY
ARRANGED FOR
HANDLING
MERCANTILE ACCOUNTS.
GALLATIN
NATIONAL BANK
OF THE CITY OF NEW YORK
Capital
*1,000,000
Surplus & Profits (earned) 2,460,000
OFFICERS
BANS
OF THE CITY OF SEW YORK
STREETS
Philadelphia
Street; New York
Surplus, $1,000,000
Chase National Bank
FOURTH
.
Exchanges,
*3,000,000
-
RUEL W. POOR. President
JAMES McCUTCHEON, Vtce-Pres.
WILLIAM L. DOUGLASS, Cashier
ARTHUR W. SNOW, Asst. Cashier
THE
B. Cev« Broad A Chestnut Sts
17 Pine
Surplus,
New Fork
Members New York and PhUa. Stock
BANK.
Williams & Co
GARFIELD NATIONAL BANK
Capital, $1,000,000
INVESTMENT SECURITIES
MECHANICS’ NATIONAL
RICHMOND, VA*
Baltimore Correspondents:
MinnsNDoar
BANKERS
CHARTERED 1810.
Capital,
Surplus,
Samuel Woolverton. President
Adrian Iselin Jr, Vice-President
Georoe E. Lewis Cashier
Howell T. Manson. Assistant Cashier
Philadelphia
•
•
91,000,000
•
9900,000
ACCOUNTS INVITED
DIRECTORS
Adrian Dublin Jr.
Frederic W. Stevens
ALEXANDER H. STEVENS
W.Bmlen Roosevelt
Char a. Peabody
Samuxl Woolteesmi
CHARLES H. TWEED
Thomas Dennt
n
THE CHRONICLE
[VOL.
LXXXX.
flanke** and §*»imxs of ^ovzlgvt H»cbang*.
J. P. MORGAN & CO.
DOMESTIC AND FOREIGN BANKERS
Wall Street, Corner of Broad
Maitland,Coppell & Co., Kidder, Peabody & Co.,
89
WILLIAM
STREET,
NEW YORK.
NEW YORK
DREXEL & CO„
PHILADELPHIA
Corner of 5th and Chestnut Streets
HORGAN, GRENFELL & CO, LONDON
Orders executed for all Investment Securities.
of Corporations and negotiate and
Bills of
Exchange, Telegraphic Iran*fere,
Letters of Credit,
PARIS
Banco Naclonal de Mexico
And Its Branches.
Commission
Deposits
Foreign Exchange, Commercial Credits
on
Cable Transfers
Circular Letters for Travelers available In all parts
of the world
Brown Brothers &
PHILA.
NEW FORK,
Co.,
BOSTON.
89 Wall St.
A LEA. BROWN &
BARING
BROTHERS A 00„
LONDON
August Belmont & Co.,
J. & W. Seligman & Co.,
BANKERS,
BANKERS,
No. 23 NASSAU STEET,
Buy and sell first-class Inr
vestment Securities on commyftRT.m ftTit,
mission.
Receive accounts
of Banks, Bankers, CorporafiAnumi-i Aa
tlons. Firms and individuals
DdCUItuIGS.
oa favorable terms. Collect
drafts drawn abroad on all points in the United
States and Canada; and drafts drawn In the United
States on foreign countries, including South Africa
Members of New York 8took
and make cable transfers on all
points. Issue Commercial and
NEW YORK
Exchange.
Buy and Sell Investment Securities.
Agents and Correspondents of the
.
INTERNATIONAL CHEQUES.
CERTIFICATES OF DEPOSIT
T
iflt.ffiTSJ
Buy and sell Bills of Exohange
UOUbolO
Messrs.
ROTHSCHILD,
London, Paris and Vienna.
ISSUE LETTERS OF CREDIT
FOR
TRAVELERS,
Available In all parts of the world.
Draw Bills of Exchange and make Telegraphio
Transfers to EUROPE. Cuba, and the
otner W est Indies, Mexico and California.
Exeente orders for the purchase and sale
oi Bonds and Stocks.
Travelers’ Credits, available in
mil part, of the world.
BROWN, SHIP LEY & CO., LONDON.
LTD.
LETTERS OF CREDIT
Available throughout the United States,
CONNECTED BT PRIVATE WIRE.
_A
LETTERS OF CREDIT.
TRAVELERS’
SONS, BALTIMORE.
.
FOREIGN EXCHANGE.
Agents and Attorneys for
Agents for the Bank of Australasia, the British
Guiana Bank, Demerara, etc., etc.
Memo. N. Y., Phlla„ Boston & Baltimore St’k Exch’s
OX Uredlt.
INVESIMEm SECURITIES.
London, ■<
Messrs. Mallet Freres dc Cle., Paris,
Deposits received subject to Draft
Interest allowed
BANKERS.
Union ol London & Smiths Bank, Limited,
31 Boulevard Haussmann
on
STREET, BOSTON
STREET, NEW YORK
on
HARJES & CO„
Securities bought and sold
66 WALL
Act as agents
issue Loans.
No. 22 Old Broad Street
MORGAN,
118 DEVONSHIRE
Cuyler, Morgan & Co.,
44 Pine Street, New
Issue
Letters of Credit for Travelers
Available in all Parts of the World.
draw bills Of exchange and make
TELEGRAPHIC TRANSFERS OF MONEY TO
EUROPE AND CALIFORNIA
Seligman Brothers, London.
Seligman Freres A Ole,, Paris.
Alsberg, Goldberg dc Co,, Amsterdam.
The Anglo and London-Parls National
Bank of San
Francises, Cal.
York.
BANKERS
TAILERiCD
'
INVESTMENT
27 Pine Street, New York
i
Z
Members of the New York Stock Exohange
SOT Chestnut Street, Philadelphia.
Bankers,
Cables "Mimosa."
64-66 Wall Street, New York.
Deposits received subject to draft, interest al¬
lowed on deposits. Securities bought and sold on
commission. Travellers credits available through¬
out the United States, Cuba, Puerto Rico. Mexico,
Central America and Spain. Make collections in and
issue drafts and cable transfers on above countries
London
Winslow, Lanier & Co.,
89 CEDAR
NEW
Bankers 1
—
Jolnt-Htock
London
Bask, Limited.
Letters
ot Credit and Travelers'
available the world over.
Deposits received
Interest
Members
New
York
oheque
deposits.
to
ea
Stock
and
-
Exchange.
Act as Fiscal Agents.
NEW YORK
Produce
Deposits. Securities
Bought ana Sold on
en
Commission,
Exchange Bank
Capital, Surplus earned,
Foreign
Credit.
Dealers In High-Grade Investment Securities.
Lists upon application.
BROADWAY. Corner BEAVER ST.
Deposits Received Subject to Draft. Interest
oi
subject
allowed
Securities bought and sold on commission.
Paris Ban kers t—Heine & Co.
YORK.,
Foreign Exchange, Letters
Cheques
BUI* of Exchange and Cable Transfer*.
STREET,
BANKERS.
Allowed
31-33 Plae Street, New Yerk
624 Fifth Ave., N. Y.
Lawrence T urnure&Co.
INVESTMEN1
SECURITIES
BANKERS
MBMBHR8 NEW TORE STOCK BXCHANOB.
BANKERS
•
IMmmd&Ca.
SECURITIES.
Exchange
$1,000,000
-
500,000
bought and
sold.
Cable
Transfers. Commercial and Travelers’ Letters of
Credit available in all parts of the world.
Graham &Co.
bankers
ACCOUNTS INVITED
436
Chestnat
Street,
PHILADELPHIA
Kean,V anCortlandt&Co Heidelbach, Ickelheimer & Co..
BANKERS,
80 PINE STREET, NEW YORK.
Transact
a
General
Foreign ana Domestic
Banking Business.
BAN KERB,
Government and Municipal Bondi,
Securities ot Railroads, Street
37 William Street,
Railways and Gas companies
members n. y. stock exchange.
Execute orders for
purchase and sale oi
Foreign Exchange Bought and Sold.
Commercial and Travelers! Credits
available in all parte of the world.
Schulz &
John Munrob & Co.,
NEW YORK
BOSTON
ewMCTtaal Credits.
Foreign
Gable Transfers.
MUKROE &
Exchange.
00., Paris
Act
as
value
Financial Agents
Issue Foreign and Domestic Letters of
Credit and Travelers’ Cheques
Ruckgaber, Knauth, Nachod & Kiihne
HANKERS,
18 William ritreet, •
.
■
New Yerk,
Members New Tork Stock Exokange.
% Correspondents of Messrs.
Ftuhllng 4 Gosohen. London.
Jehu Berenberg-Cornier 4 Os.. Hamburg.
Marouard. Meyer-Berel 4 Ole, Pads.
Bremer Bank Flllale der Drosdner Ban)
Bremen.
Issue Oommerolal 4 Travelers' Credits.
Buy and Sell Bills ef Exchange.
Cable Transfers 4 Investment Sesuvltl*
_
Letters of Oredit for Travelers
established
Stocks and Bonds.
Lseue
Dealers in investment Securities.
of
BANKERS
NEW YORK
LEIPSIG, GERMANY
Members New York stock
Exchange
INVESTMENT
SECURITIES
Jan. 1*
1010.]
THE CHRONICLE
m
Hatc&ess.
igattkevs.
Wm. A. Read&Co.
Lee, Higginson ft Co.,
BANKERS.
BANKERS
BOSTON
New York
Chicago
investment Securities.
NASSAU
* CO.
1 Bank Buildings, Prince*i Street,
LONDON, £. C.
NEW
VOU M.
19 Canutes St.
a03U. Oman St.
24# Ls Salle St.
BOSTON
BALTIMORE
CHICAGO
Chicago Stock
Exchangee
37 William
J. B. RUSSELL ft CO.
BANKERS
46 WALL
93ti La Salle St„ Chicago.
Conservative Investments.
LISTS ON REQUEST
BANKERS.
BONDS
49 Wall
AND
ew
V orb Stock Exchange.
11 Chicago
Mock
GEO. F. BUTLER ft BRO:
Si Wall Street
Exchange.
Financial Representatives of the Automatic
Electric
RAILROAD AND OTHER
BRANCH OFFICES*
Pine Street. Comer William
NEW YORK
S5 Federal St«, 178 Devonshire St.
BOSTON
INVESTMENT SECURITIES.
H. B. HOLLINS 8c CO.
Goldman, Sachs 6c Co.,
BANKERS
Reodve deposits subject to check
end allow interest on haltnoce.
Ad as Aseel agents Cor munlclpaHtles and
lane
corporations.
lettecs ot
credit
and
deal
In
BONDS FOR INVESTMENT
NEW YORK
Members N. Y. Stock Exchange
Company
CHICAGO. ILL.
SCRANTON. PA.
WILKES-BARRE, PA. BINGHAMTON, N.Y.
ELMIRA, N. Y.
BANKERS
Street, NEW YORK.
Chicago. San Francisco
Philadelohia.
investment Securities.
N
INVESTMENT.
Fiscal Agents for Cities and Corporations.
Safety Deposit Vaults for Use of Customers.
N.W. HARRIS ft CO
FOR
Interest Allowed on Deooslt Accounts.
High-Grade Bonds
Members
Exchange.
N. W. HALSEY & CO.,
STm NEW YORK.
DEALERS IN
St., New York
Members New York Stock
Boston, 10 Pott Office Square.
Boston
and
Moca Bxchanees.
Members New fork and
Mew Yerk.
Street,
HIGH-GRADE BONDS
STREET.
Members New York
Plympton,Gardiner & Co,
33 Wall
Dealers in
25
HIGGINSON
Millett ,Ro e & Hagen
60 WALL STREET,
NEW YORK..
Members of New York Stack
Exchange.
E Executes 'orders for purchase and
aala af Stocks and Banda.
Boy and Sell Foreign Exchange.
CABLE ADDRESS “COLDNESS-
*
Cor. ot Wall and Broad Sts^ New Yerk.
Draw Bills oi Exchange and stake
Cable Transfers to Europe, Asia, An*
tr&lia, the West Indies, Central and
South America and Mexico.
issue Letters ot Credit tor Traveler®,
available in ail parts oi the world.
LOT ON APPLICATION
Issue Commercial and Travelers*
Letters of Credit,
Available in all parts af the warld.
Blake Brothers 6c Co.,
*0
Exchange Piece,
DEALERS
IN
Investment Securities
and Commercial
Paper
14 State Street,
NEW YORK,
.
BOSTON.
Dealers in
NEW YORK CITY
and other
MUNICIPAL BONDS.
Charles
Head 6c Co.,
Members of
New York and Boston Stook
17 Broad Street,
NEW YORK
Exchanges
74 State Street,
BOSTON
20
Zimmennann ft
Forshay,
BANKERS.
9 and 11 Wall
Street. New York.
Member* New York Stock
Exchange.
King Street, West, Toronto, Onk
4 Hospital Street, Montrea1, Que.
10 Federal Life Bldg.,Hamilton, Onk
105 Banlgan Bldg., Providence, R. I,
Private vrtree connecting
all office*
Commercial Paper.
Orders executed for stocks and bonds for Invest*
ment
margin.
WOLLENBERGER
Investment Securities.
FOREIGN EXCHANGE Bought & Sold
BANKER!
or on
Members New York A Boston Stock
Exchangee
LETTERS OF CREDIT ISSUED.
Cable Transfers to all Parts of the
World,
BOISSEVAIN 6c CO.,
24 BROAD
STREET.
NEW YORK
Members New York Stock
Exchange.
TBAN8AOT A GENERAL BANKING AND
STOCK EXCHANGE BUSINESS.
Specialists In
Foreign Government Bonds
Correspondence Invited.
CRIMP, MITCHELL l SHORE!
Adolph Bolssevain ft CoJ
Amsterdam. Holland.
ft GO
CHICAGO
206 La Salle Street
BANKERS
1411 Chestnut St.,
Philadelphia
Mambsrs New Yerk and Phlla. Stock Exchanges
Stem &
Schmidt,
FOREIGN EXCHANGE.
INVESTMENT SECURITIES
27 WILLIAM STREET, NEW YORK.
BOND
&
GOODWIN
Investment Securities
Members N Y. Stock. Cotton xnd Coffee tfxonanges.
BANKERS
Corporation and Collateral Loans
Commercial Paper
also
INVESTMENT SEC UNITIES
Members New York Stack Exchange
and Beaten Steak
ftaigraas St.
BOSTON
Exchange.
Ill Breadway
NEW YORK
84 fallaBs 8t.
CH1CAOO
C. G. YOUNG
ENGINEERING AND CONSTRUCTION OF
PUBLIC UTILITIES AND INDUSTRIALS
60 Wall
Street, New York
PHYSICAL AND FINANCIAL REPORTS
In any part of the world
TWENTY YEARS EXPERIENCE
Shoemaker, Bates ft Co.
BANKERS
.
J New York Stook Exchange
Chicago Stoch Exchange
Members |
INVESTMENT
SECURITIES
37-43 Wall 8t., NEW
YORK.
Waldorf-Astoria and 500 Fifth Atom N.Y
Real Eat. Tr. Bldg.. Pbllad»l»M»
IT
THE CHRONICLE
[Vol.
gfotia&tatt
DEUTSCHE
Bank of Montreal
BANK, The Union Discount Co.
of London, Limited.
CAPITAL paid In
$14,400,000 M
-
Behrenstiasae • to It.
89 CORNH1LL.
CAPITAL
Telegrapk4o Address. Udlsco. London.
$47418400
M. 200.000.000.
Capital Snbscrlbed
$24,690,000 Paid-Up
Reserve Fond
RESERVE
M. 103.699.00$.
Dividends paid daring last ten gears:
111 11; 11. 11. 11. 12. 12. 12. 12. 12. per cent
$7,800,000
3.750,000
3,706.000
——
$5= SI STERLING.
NOTICE IS HEREBY GIVEN that the
RATES OF INTEREST allowed for money on
deposit are as follows:
Branches:
BREMEN. DRESDEN. FRANKFORT-O-M..
HAMBURG, LEIPSIO. MUNICH.
NUREMBERG, AUGSBURG,
NEW YORK OFFICE;
and the
Deutsche Bank (Berlin) London Agency
CHRISTOPHER R. NUGENT, Manager.
4 George Yard. Lombard St..
LONDON, E. 0.
FRENCH FINANCE CORPORATION
BANCO jUEMIN TRkHSATUHTICO
OF AMERICA.
(Deutsche Ueberseelsche Bank.)
Purchasers
($7,143,000)
30.000.000.
PAID-UP CAPITAL
of! First-Class
RESERVE FUND
OF SECURITIES.
ARGENTINA: Bahia-Blanca, BeU-VUle, Buenes
Aires, Cordoba, Tucuman.
BOLIVIA: La Pas. Oruro.
CHILI: Antofagasta, Concepcion,
Iquique, Osorno,
*
Santiago, Temuco, Valdivia, Valparaiso.
PERU: Arequlpa, Callao, Lima, Trujillo.
URUGUAY: Montevideo.
SPAIN: Barcelona, Madrid.
NEW YORK.
85 bis
rue
Merchants’ Bank of Canada.
Handels-Gesellschaft,
of credit issued.
BERLIN, W„
London
Agents—Royal
HEAD OFFICE
Threadneedle Street, London,
5
With
Direction der
Banking Iransactions oflEvery Description
Capital,
-
-
-
-
M.110,000,000
Reserve,
-
-
-
-
M. 34,000,000
BREMEN. FRNAKFORT-o-M.;
MAINZ. WIESBADEN.
Telegraphic Address: Cinnabar, London.
M.
•
Ba$l«, Zurich, St Gall, Gtnova
With the unlimited personal liability
of the following partners:
A. SOHOELLER.
I
E. RUSSELL.
M. SCHINCKEL,
F. URBIG,
Agencies at Roreohaeh, Ohlaeeo and Herisau
Brasilianische
fur
Branches:
LONDON OFFICE, 43
Bank Capital paid
Deutschland.
Surplus,
.
up,
.
•
.
.
Lothbury, E.C.
Frs.62,800,000
Frs.16,330,000
The National Discount
Company, Limited.
Bank fur Chile
und
Deutschland.
M. 10.000.000 00
HAMBURG, with branches In CHILE (Bance de
Chfle A Aleman la), Antofagasta. Concepstoa.
Santiago,
Tsmueo. Valdivia, Valparaiso. Victoria; and la
BOLIVIA (Bance de Chile A Aleman la, Seccloa
Bollvtaaa). LaJPaa and Orure.
85 CORNHILL.
...
LONDON. B. C.
Cable Address—Natdls: Leaden.
Subscribed Capital
$21,166,625
Paid-up Capital
Reserve Fund
($5— SI STERLING.)
-
NOTICE IS
HEREBY GIVEN
RATES OF INTEREST allowed for
deposit
are as
follows:
4.283425
2.100.000
that the
money en
At Call. 2H Per Cent Per Annum.
The above-named banks, founded mat represented to At 8 to 7 or 14 Days’ Notice. 2 H Per Cent.
Barope by the
Approved bank and mercantile bills discounted.
Direction der Dlscento-Geeellsdinft
Meney received on deposit at rates advertised
Berlin. Bremen. Frankfort-o-M., Mains aid Leaden tmm time to time and for fixed
periods upon
specially agreed terms.
Nerddeutecbe Bank In Hamburg,
Loans
granted
on
HAMBURG, offer their servlees ter •vorv description'
approved negotiable eeeuritlee.
of regain? banking transaetieaa.
PHILIP
17,096,960
-
VAN OSS & CO.
HAGUE, HOLLAND
Europe
Tel.-Address, Voce.
St.,W.U. A LUbee.
Codes: Hartflold’s Wall
Hong Kong & Shanghai
BANKING CORPORATION
Paid-up Capital (Hong Kong Currency)
Reserve
Fund/ InGold..116,000.0001
Ilf,000.096
80,250.009
InSHver. 15,250 000/
Reserve Liabilities of Proprietors
13.000469
GRANT DRAFTS. ISSUE LETTER8 OF CREDIT,
NEGOTIATE OR COLLECT BILLS PAYABLE IN
CHINA. JAPAN. PHILIPPINES. BTRAIT8SETTLE¬
MENTS. INDIA, TAIPEH, MALACCA. ETC.
WADE GARD’NER Agent, 36 Wall St.
.
Wiener Bank- Verein
M. 10.000.900 00
Head Office: HAMBURG.
RIO DE JANEIRO. SAO
PAULO,
SANTOS. PORTO ALEGRE, BAHIA.
CAPITAL
-
Sir EDWARD H. HOLDEN. Bart., M. P..
Chairman and Managing Director.
l
A.1SALOMONSOHN.
CAPITAL
Bankverein Suisse
$13,712,626
57,590.611.
RESERVEFUND,
Swiss Bankverein
Schwelxerlscher Bankverein
RESERVE
ESTABLISHED 1836
Place American Investments in
$40,476,200
-
England.
Branches In all the Principal Cities aad
Towns of England and Wales.
THE
LONDON E. C..
53 Cornhill
M. 170.000,000.
Scotland
SUBSCRIBED CAPITAL, $91,178,400
PAID-UP CAPITAL,
- 18,995,600
ESTABLISHED 1856
BERLIN W, 43-44 Behrenstrasse
of
The London City &
Midland Bank, Limited,
’
ESTABLISHED 1851
Bank
goreigtt.
Telegraphic Address—Mandelsehetft, Berlin
Disconto-Gesellschaft,
)
C. J. CROOKALL.
139 branches in the Provinces of Quebec, Ontario;
Manitoba, Saskatchewan, Alberta and British Co¬
lumbia. Good facilities for effecting prompt col¬
lections in Canada. Buy and sell Sterling Exchange
and Cable Transfers.
Issue Commercial and Trav¬
elers’ Credits available In any part of the world.
Behrenstrasse 32-33 and Fransoslscbe-Strasse 42
‘
$6 000,000
4.602.157
-
YORK OFFICE, 63 and 65 Wall St.
W. M. RAMSAY.
\Agents.
d*Anjou.
Berliner
Drafts, cable-transfers and letters
No. 46 ft 47 ThreadncedU SI.
F. W. TAYLOR. Manager.
PARIS.
40 Wall Street.
Bins sent for collection, negotiated or
advanced upon.
London Agents
London Office.
ACT AS FINANCIAL AGENTS IN FRANCE
Branches:
DEUTSCHE BANE (BERLIN) LONDON AG’Y
GEORGE Y’D, LOMBARD ST., LONDON, E.O.
Buy and sell Sterling and Continental Exohange
and (mhle Transfers: grant Commercial and Trav¬
elers' Credits available in any part of the world!
issue drafts on and make collections In Chicago and
throughout the Dominion of Canada.
NEW
IN THE OBTAINING OF LOANS AND SALE
BERLIN
Agents.
HEAD OFFICE MONTREAL
FOR AMERICAN RAILWAY CORPORATIONS
Eanonlerstrasse 29 to 30.
R. Y. HEBDEN.
W. A. BOG.
J. T. MOLINEUX,
CAPITAL
Rest and Undivided Profits
Market.
($1,469,000)
M. 6,170,000.
HEAD OFFICE
Investment
Securities for the French
($5,357,000)
M. 22,500,000.
Head Office—Montreal
Rt. Hem. Lord Strafeeogia and Mount Royal.
G. C. M. G.. G. C. V< O.—Honorary President.
Hon. Sir George Drummond.
K. C. M. G.. C. V. O.—President.
Sir Edw. Cleuston Bart.—V.-Pres. A Gen. Mgv.l
No. 31 PINE STREET
The Company discounts approved bank and
mercantile aooeptanoes, receives money on de¬
posit at rates advertised from time to time, and
grants loans on approved negotiable securities.
SUBSCRIBED CAPITAL
-
REST
12,000,000 M
UNDIVIDED PROFITS,
358,311 N
At Call. 1H Percent.
At 8 to 7 Days' Notice, 2 H Per Cent.
WIESBADEN.
BRUSSELS, CONSTANTINOPLE
CAPITAL, fully paid,
ganks.
(EstoMMed 1317)
BERLIN. W.
M
lxxxx
„
HAROLD WADE. Manager.
ESTABLISHED 1869
CAPITAL
(fully paid)
-
-
(180.000,000 crowns)
RE$ERVE FUNDS
-
-
-
(39,000,000 crowns)
$26,342,0$$
$7,900,008
HEAD OFFICE VIENNA
(AUSTRIA)
Austria-Hungary.
Agram, Aussig a-E., Bielits-Biala,
Briinn, Budapest, Carlsbad, Czernowit*, Friedek-Mistek, Gras, Innsbruok,
Klagenfurt, Krakau, Lemberg, MarienBranches in
bad, Meran, Pilsen, Prag, Przemysl.
Prossnits, St. Polten, Tamow, Teplit*,
Teschen, Villach, Wr. Neustadt.
Branch in Turkey.
Constantinople.
Jan. 15
1910.]
THE CHRONICLE
®auajdiatx gatxUs.
THE
V
Bank* a«t& g*ttlue*s.
CANADIAN BANK
OP COMMERCE,
HEAD OFFICE, TORONTO
PAID-UP CAPITAL
$10,000,000
SURPLUS
6.000.000
NEW YORK OFFICE:
16 AND 18 EXCHANGE
Wm. Gray and C. D- Mackintosh;
Nos.
PLACE
Agents.
Buy and Sell Sterling and Continental
Edward Sweet & Co,
BANKERS
Members N. Y. Stoek
Exchange
Ex-
Bankers & Brokers
Banking and Exchange business of
every
scription transacted with Canada.
de¬
17 NASSAU STREET
LONDON OFFICE—2 Lombard Street; E«
Mackay & Co.
0.
ESTABLISHED 1854
Lloyd's Bank; Limited.
Union of London and Smith's Bank. Limited.
Stock
Exchange.
Dealers in
Government Bonds and other
Investment Securities.
In
teretit
NEW YORK
BANKERS IN GREAT BRITAIN:
The Bank of England.
The Bank of Scotland.
Members of the New York
allowed
deposits,
on
Nassau and Pine Streets
New York
The Bank of
British North America
Established in 1836
Incorporated by Ropai Charter In 1640
Paid-up Capital....—.....£1.000,000 Sterling
Reserve Fond
500.000 Sterling
ESTABROOK & CO.,
BANKERS,
Head Office:
Geo.A.Fernald&Co.
Members Boston Stock Exchance.
6 Graoechurch Street.
London, E. O.
New York Office: 52 Wall Street
H. M. J. McMICHAEL. \ Agents.
W. T. OLIVER,
J
Buy and sell Sterling and Continental Exchange
and Cable Transfers
Commercial
Grant
and
Travelers’ Credits available in any part -*f, tbs
world.
Issue Drafts on and make Collections In
si! parts of the United States and Canada.
®atra£iatx
gatrfu*s.
16 State Street, Boston.
BANKERS
MEW TORE.
BROAD STREET,
M
•
•
^
Municipal. Railway
INVESTMENT SECURITIES.
GOVERNMENT, MUNICIPAL AND
CHOICE RAILROAD BONDS.
and other
Corporation Bonds
BOSTON
NEW YORK
•T MILK STREET
86 WALL STBBET
Canadian Bonds
MUNICIPAL AND CORPORATION
WOOD. GUNDY ftCOTORONTO
CANADA
R. L. DAY & CO.,
35
87 Wall St
Congress St.,
HIGHGRiDE INVESTMENT BONDS
MONTREAL
■
•
BANKERS * BROKERS,
BOSTON
NSW YORK
Municipal and Railroad
W. GRAHAM BROWNE & CO.
Tucker, Anthony ft Co,
68 STATE
ST,i
94 BMOAD ST„
NEW TORE
BOSTON
17 PLEASANT ST., NEW BEJDWOMJD
01 embers Boston and Mew Verb Stock
Exchanges.
Members New Yerk and
Boston Stock Exchangee
CANADA
Canadian Bond; Bought, Sold and Appraised
BIGELOW & COMPANY
gittawxial.
Rhoades & Company
45 WALL STREET, NEW YORK
Utility Securities
BERTRON, GRISCOM & JENKS
Land Title
BaUdlng,
PHILADELPHIA.
draft.
Letters of Credit and
Travelers' Checks
Available Throughout the
World
Railroad, Street By., Oaa A Bee. Light
SECURITIES.
Alfred Mestre & Co.
BANKERS
W. Noble &
Company
BANKERS
New Yerk.
40 Wall Str«at,
HEW YOU.
INVESTMENT SECURITIES,
HARTFORD—<6 Pearl Street
(Paid-Up Capital and Surplus, $4,6N,0M)
MJCEDAR STREET, NEW YORK
H.
7 Wall St.
BANKERS,
Members New York Stock Exchange; Execute
Commission Orders; Deposits received subjeot te
ELECTRIC BOND & SHARE CO.
HODENPYL, WALBRI06E & CO.,
New York
State, Municipal and Railroad
Bankers and Investment Dealers
Proven Public
SECURITIES
Telephone 7194 Hanover.
HIGH-GRADE BONDS
Eleetrio
WE OFFER
INVESTMENT
49 Wall Street
WE FINANCE
Light, Power and Street
Railway Enterprises with records
of
established
earnings
BANKERS
aunrww
High-Grade Bonds
AND
Investment Securities
Members of the New York
Stock Exchange.
Dealer*
iff
Municipal, Railroad and
Equipment Bonds
Interest allowed on Deposits
Subject to Draft
DETROIT
NEW YORK 58
Broadway ■«(
U01.15tk M.
PHILADELPHIA
NEW YORKfW T PHILADELPHIA
▼I
THE CHRONICLE
[VOL.
LXXXX.
gauturs atxfl 'gxolxzxs tmt&i&z |m ffxnefc.
PITTSBURGH
LOUISVILLE.
PORTLAND, ORE.
PITTSBURGH SECURITIES J. J. B. HILLIARD
&
SON,
MORRIS BROTHERS
LOUISVILLE, KY.
ROBINSON BROS.,
BANKERS AND BROKERS.
INVESTMENT BONDS.
Members New York and Pit sburgb
Stock
Exchanges
SECURITIES
A Specialty
Oorrsspondants: WALKER BROS., 71 B’way. N.Y
ESTABLISHED 1863
INVESTMENT SECURITIES
.(NO STOCKS)
J. S. & W. S. KUHN
LOUISVILLE. KY.
Incorporated
NASHVILLE.
Pittsburgh, Pa.
L.L. M’Clefland.
President
Seo. ft Treas.
CHILDS & CHILDS
Members
New York and Pittsburgh stock Exchangee
and Chicago Board of Trade
INVESTMENT SECURITIES
Union Bank Building
PITTSBURGH, PA.
Taylor A Company
PITTSBURGH
NEW TORE
i
Pittsburgh Coal Co. 5s
Pitts. Bess.ft L.E. Cons.
Pittsburgh Junction 1st 6s Pittsburgh Steel Co. 6s
Southern Tract. Co. 5s
Ft.Wayne & W. V. Trac.
J. C. WILSON
fNew York Stock Exchange.
MBMBERi Chicago Board of Trade.
(Stock and Bond Exchange, S. P.
Private Wire to Chicago and New York.
Cumberland Telephone & Tel. Co.
8% STOCK
PAID-UP CAPITAL., 6500,000
H. P-
SAN FRANCISCO.
STOCKS AND 80NDS
INVESTMENT BONDS
James S. Kuhn.
PACIFIC COAST SECURITIES A SPECIALTY
JOHN W. iD. S. GREEN
We Bay and Hell
5s
5s
SAN FRANCISCO
Branch
Correspondents.
Of all the different subsidiary Com¬
panies of the AMERICAN TELEPHONE
A TELEGRAPH 00., there are none
better than the CUMBERLAND. This
Company has a quarterly cash dividend
6AS AND ELECTRIC PROPERTIES
And offers to investors FIRST-CLASS
SECURITIES of this nature.
LOS ANGELES.
James H. Adams & Go.
CALIFORNIA BONDS
over 25 consecutive
years.
For circular and quotations, address, MUNICIPAL AND PUBLIC SERVIOB
GOULDING MARR
They yield
the
NASHVILLE,
-
WILLIAM
THOS. PLATER & CO.
Municipal and Corporation Bonds
TO YIELD
Building,
PHILADELPHIA
W, G. HOPPER.
H. S. HOPPER.
Members of Philadelphia Stock Exchange.
Wm. G.
Hopper & Co.,
8TOCK AND BOND
BROKERS.
Philadelphia.
Investments receive our special attention.
In¬
formation cheerfully furnished regarding present
holdings or proposed Investments.
J. W. SPARKS & CO.
Corner Chestnut and Third Hta.
Philadelphia
jPHlLADELPtilA oTOCK EXCHANGE
MEMBERS! NEW YORK STOCK EXCHANGE
iGHICAGO BOARD OF TRADE
E. B. JONES & CO.
BONDS
Bldg.
PHILADELPHIA
MEMPHIS.
INO.
L.
NORTON,
NORFOLK, VA.
&
PASADENA
Joseph Ball Company
John W. Dickey,
BROKER
BONDS
AUGUSTA. GA.
SECURITY
SOUTHERN SECURITIES
BUILDING
LOS ANQELES
WANTED
Offerings of Southern Bonds
BOND HOUSE OF
and Stocks
BARROLL & CO.
WILLIAM E. BUSH.
AUGUSTA, GA.
H. W. Heilman Bldg.. LOS ANGELES
Merchants' Exchange.
Lumbermen’s Bldg.,
San Francisco.
Portland.
ATLANTA.
FIELDING
SOUTHERN
MUNICIPAL BONDS
THE ROBINSON-HUMPHREY CO.
ATLANTA, GEORGIA
HILLYER INVESTMENT GO.
ATLANTA.
.
GEORGIA
.
BIRMINGHAM ALA.
BANKERS AND
BROKERS,
Birmingham, Alabama.
STOCKS
AND
BONDS.
BALTIMORE
COLSTON, BOYCE & CO.,
BALTIMORE
BANKERS AND BROKERS
Investment Bonds
Southern Securities
NORFOLK, VA.
LOS ANQELES
SEATTLE.
S. C. OSBORN & CO.
Aretls Club
Bldg.
BROKERS AND FINANCIAL AGENTS.
Stocks. Bonds. Grain. Cetten
and Seattle Business Property.
MUNICIPAL. BONDS
•^VWWWVWWWWWWWWVWWVVVWWWWVWWWWWAA/WWWVWV-
CO.
MEMBER LOS ANGELES STOCK EXGHAN6B
WE OWN AND OFFER
Yielding 4H and upwards
J. STILSON
CO..
SECURITIES,
INVESTMENT
YIELDING 4)4% TO 5)4%
Established 1892.
Request
AUGUSTA.
Otto Marx ft Co.
Local Stocks and Bonds
86 Madison Ave.
MEMPHIS.
TENN
MOTTU
on
LOS ANGELES
Land Title
land Title
4% TO 8%
Descriptive Circulars
MEMBERS LOS ANGELES STOCK EXCHANGE
the Subject
28 South Third Street,
R. STAATS CO.
Established 1887
Nashville Chattanooga & St. Lonis Ry. Bonds.
Nashville Railway & Light Co. Stock.
Cumberland Telephone A Telegraph Co. Stock.
Properties and Solicit
on
al
LOS ANGELES. CAL.
TENN.
-
CORPORATION
a higher rate of interest than
hoods
same merit issued in the East
Correspondence LiwUed
Investment Broker
We purchase
Correspondence
New York ft Chicago.
record of
THE C H. GEIST CO.
OWNS AND OPERATES
LOS ANGELK8
Coronado Hotel, Coronado Beach.
Harris. Winthrop & Co.
DEALERS IN
PHILADELPHIA
Such
PHILADELPHIA
Municipal and Corporation
BONDS
STREET RAILWAY
PITTSBURGH PA.
•f
PORTLAND
Travelers may have orders executed with theft
minutes.
Logan ft Bryan—Oenrespeadsnts: private wins
te and members of all loading
Bxokaagoa.
<
ewn broken ever eur wire* In 1 to t
WM. D. PERKINS ft CO.
Sll
Cherry—Seattle
INVESTMENT SECURITIES
^CORTORATION* BONDS
Write far
Monthly Lftt
DENVER, COL
Nevada-California Power Co. 6a
and Stock
Denver ft Northwestern Ry. ffs
andi Stock
State of Colorado 3s
JAMES N. WRIGHT & CO.
312 CENTURY
BUILDING.
CALVIN BULLOCK
DENVER
CITY TRAMWAY
BONDS
Jam. 16
THE CHRONICLE
1910.]
TII
Hawfeevs xn& ’gvofats ottlslds §wew %ovk.
yTTouisT
Lee Benoist & Co.
A. 6. EDWARDS ft SONS.
BANK OF COMMERCE BUILDING
1 WALL ST.
ST. LOUIS
In St.
Louis, Mo., at 412 Olive St.
CORPORATION AND COLLATERAL LOANS NEGOTIATED
A GENERAL FINANCIAL
AND
BUSINESS
SACRAMENTO VALLEY
IRRIGATION CO. 6s
TRANSACTED
SCHAN I UN.
ClNClNNAll
GUARANTEED
Specialize in Securities of
MUNICIPAL BONDS
To net over 4%
Tax-free throughout the U. S.
due 1910 to 1920
New River
Chicago Subway
Scranton Railway
T—fit Iron
Klete Thro wine
U. 8. Lumber
Scranton Electric
Pa. Cent. Brewing *
Pa. Coal ft Coke
Scranton Oaa ft Water
Northern Electric
New Mexico Ry. ft Coal Paint Creek Collieries
Lacka. ft W. V R. T.
W. B. ft Wye. V. Trac.
PRICE, PAR AND INTEREST
Sprint Brook Water
BROOKS
ft
CO.,
BANKER8
WEIL, ROTH & CO.
CINCINNATI, OHIO.
TheShort.Stanton.WorthingtonCo.
(Successor to Short. Stanton ft Co.)
G IGH^jKAUti
MEMBERS NEW TORE STOCK EXCHANGE,
Spruce Street
SCRANTON, PENNA.
BOUGHT AND SOLD
6ameepen4ente: EDWARD B. SMITH ft CO..
ST Pine St.. New York City.
Bldg.,
Special Attention to St. Louis Securities
533 1st Nat Bk. Big
CHICAGO
CINCINNATI
EDGAR FRIEDLANDER
ROCHESTER, N. Y
BONBRIGHT ft HIBBARD
Members i
Union Trust
DEALER IN
-
...
300 N. FOURTH ST.,
William
Hayden, Miller & Co.
and other
HIGH-CLASS BONDS
BUFFALO.
CLEVELAND, O.
JOHN T. STEELE
BUFFALO. N. Y.
DEALT IN
MINNEAPOLIS.
Eugene M. Stevens & Co.
SPECIALISTS IN
BOlhl ON
Buffalo and Western New York Securities
MINNEAPOLIS—ST. PAUL
ALBERT P. MILLER Jr
INDUS!RIAL TRUST CO BU1LDXNO
WELLS
Qas9 Electric Lighting & Railway
W.
HL.
Kansas
DICKEY CO.
Twin
BLDG., PROV1DENOI
Preferred Stocks
of Proven Value.
CITY,
MO.
City Ry. <k Light Issues.
Western Municipals
Local Securities.
*11’MIN.
CHICAGO.
A. O.
SAINT PAUL
BODELL & CO.
McCRUM
KANSAS
Minneapolis Qas Light Co. 5s and 6s.
Twin City Rapid Transit System Bonds.
Bonds and Stocks
Bonds and
KANSAS CITY, MO.
HTTNICIPAB Jt CORPORATION BONDS
Local Securities
206 BANIGAN
&
’IINIMKAPOLIM.
CIRCULARS. AND LIST ON APPLICATION
INVESTMENT OO.
M. St. P. ft S. Ste. Marie 4s
Duluth Mlssabe ft Northern 5s
South Dakota Central 5s
Minnesota ft Ontario Pewer ts
PROVIDENCE, R. I.
CHICAGO
MUNICIPAL
Investment Bonds
Cltixena Building.
205 LaSaDa'8t..
ST. LOUIS
Daily Lists Mailed on Application.
PROVIDENCE.
R. Compton Co.
Mcht..-Laclede Bldg.,
( Chicago Beard et Trade.
Government Municipal
and Corporation Bonds
ST. LOUIS
-
OHIO
CLEVELAND.
( New Yerk Stock Exchange.
< Rochester Stock Exchange.
8PKCIALISTS ROCHESTER SEC ORI TIE!
PRIVATE
WIRES IT#
PRINCIPAL MARKETS
Cincinnati Securities
CINCINNATI.
Building.
CO.,
Investment Securities
M unicipal and Corporation Bonds
423
100 Powers
WHITAKER &
Slaughter & Co
City Rapid Trans. 5s, 1928
CHICAGO, ILL
Minnesota Transfer Ry. 5s, 1916
St. Paul Gas Light Co. 5s, 1944
tiembers s
New York Stock Exchange,
New York Cotton Exchange,
New York Cottee Exchange.
New Yerk Prodvnee Exchange.
"
‘
<
(ScAcoia tVAcie
State
•a
BANKERS ft BROKERS,
139 MONROE STREET,
Exchange.
Savings Bank Bldg.% St. Paul
A. G. Becker &
NEW ORLEANS.
Co.,
(□rOOBPORATBD.)
LEWIS H. STANTON & CO. COMMERCIAL
INDIANAPOLIS.
Joseph T. Elliott &
Sons,
Investment Securities
Members
Indianapolis Stock
American Nat. Bank Bldg.
STOCKS AND BONDS
NEW ORLEANS.
INDIANAPOLIS
PROVIDENCE.
LA.
NEW JERSEY.
EDWIN R.
WILL BUY AND SELL
INDIANA TRACTION SECURITIES
PlatdMV Bank Bldg*
INDIANAPOLIS
8, W, Car, Monroe ft La Salle Sts., Chicago.
Exchange
NEWTON TODD
I
PAPER,
MEW JERSEY
No better State
CASE,
SECURITIES,
No better Securities
15 EXCHANGE PLACE
Ten. 655 and T61
JERSEY OIfY
,
Richardson & Clark
25
Exchange Street, Providence, B, I,
Bonds, Stocks and Looal Seeuxities.
Philadelphia
Private wires to Boston,
and New York.
Till
THE
CHRONICLE
[Yol.
lxxxx
Itattiuevs and
ERVIN
0. I
COMPANY,
BANKERS
Trowbridge & Co.
Members
BANKEES
Members New York Stock
&
Exchange
BONDS
Drexel
Members New York end Chicago Stock Exchange,
elphia Stock Exchange.
FOR
TELEPHONE SOTO JOHN.
INVESTMENT.
Miscellaneous Securities
Building, Philadelphia.
Long Distance Telephone No. L. D. 107.
Bonds and Stocks
for Investment
in all Markets.
PRIVATE WIRES TO PRINCIPAL CITIES.
Thomas L. Manson & Oo.
SIMON BORG & CO
STOCK BROKERS
NEW YORK
111
NEW HAVEN
Broadway
Members N. Y. and Boston Stock
134 Orange St.
71
Broadway,
Members of New York Stock
NEW YORK
-
No. 20 Nassau 8treet,
Private Wires to Boston, Hartford, New Haven
and Philadelphia.
A. M, KIDDER & CO.
BA%kUKA
STREET. NEW YORK.
Established 1865
OF
N.
Y.
STOCK
EXCHANGE.
Allow Interest on deposits subject to
sight check.
Buy and sell on commission stocks and bonds, and
deal in
ALLEN, McGRAW A 00.,
I Nassau
&AILBOAD BONDS
[
~
BANKERS,
Orden Executed on all Leading
Stock Exchanges.
iu«mh«r.*/New York Stock Exchange.
\ Philadelphia Stock Exchange.
S33 Ohestnut
St.,
-
Members New York Stock
Telephones
4450-1-2-3-4 Rector
George P. Schmidt
Frederic Gallatin Jr.
Albert JR. Gallatin
lit
E. W.
General Banking and Stock
Exchange Business.
a
Broadway
CLARK
ft
WALKER BROS.
71
Broadway. N. Y.
G. Campbell
Edwin P.
James G. IfacLean
H. G.
Campbell
Campbell & Co.
on
Commission
Street, New York City.
New York Stock
Exchange
BONDS
Oath orders only In
stocks accepted
1862
1910
Jas. B. Colgate St Co.
SS Wall Street, New York.
Members
N. Y. Stock Ex.
BANKERS, BROKERS
AND
Dealers in Investment Securities
W. E. HUTTON ft OO.,
NEW YORK—CINCINNATI
25 Broad St.
53 STATE STREET.
BOSTON.
J.
H. L. Finch.
Members New York Stook Exchange
Bonds and Stocks of Ohio
Companies.
W. S. Tarbell.
Fahnestock,
t. J. Mumford
Meaab. N. Y. Stock Bx
Fahnestock & Co.
S. FARLEE & CO.
MEMBERS NEW YORK STOCK EXCHANGE.
William Herbert & Co.
MEMBERS N. Y. STOCK EXCHANGE
Hanover Bank
VICKERS A PHELPS
29 Wall
Members of
BROADWAY. NEW YORK
Members N. Y. Stock Exchange
Wm.
J. S. Farlee.
Exchange
Bought A Sold
111
STOCKBROKERS
Members New York and Boston Stock
Exchanges.
Private wire between the two offices.
Information given In regard to all Boston Securi¬
ties and quotations furnished.
Deposits Subject to Checks
EFFINGHAM LAWRENCE & CO.
CO.,
Parkinson & Burr
on
BROKERS AND DEALERS IN
INVESTMENT
SECURITIES
2 WALL STREET.
11 WALL STREET, NEW YORK
11 WALL STREET. NEW YORK
Members New York Stock
Securities
BROKERS.
NO. 10 WALL STREET.
Members N. Y. and Phila. Stock Exchanges.
Orders for Stocks and Bonds executed
upon all
Exchanges In this country and Europe.
Especial attention given to supplying hlgh-olas.
INVESTMENT SECURITIES
Bankers & Brokers
enry
JOHN He DAVIS ft CO.,
BANKERS AND
INVESTMENT SECURITIES.
BROKERS AND DEALERS IN
Members N. Y. Stock Exchange
NEW YOBK STOCK EXCHANGE
Correspondeiita^Cjwk^DodK &^C«;
7 WALL STREET,
NEW YORK.
Philadelphia
PHILADELPHIA STOCK EXCHANGE
Interest Allowed
Homan S. Walker Jr.
John Y. G. Walker
Ex. Norton
104 SOUTH FIFTH ST„
Members Phila. and New YorkTStock
Exchanges.
Interest allowed on deposits.
HENDERSON & CO.
Transact
Stocks, Bonds, Investment Securities
PHILADELPHIA
321 Chestnut Street,
McCURDY,
H1MBXR3 N. T. STOCK EXCHANGE
J. Prentice Kellogg M
William A. Larned
Chaa. H. .Blair Jr.
BANKERS,
New York
24 NASSAU STREET
Exchange.
NEW YORK CITY
Exchange
111 BROADWAY
NEW YORE
(Succeeding TOLAND BROS. A CO J
MEMBERS
SCHMIDT* GALLATIN
PHILADELPHIA
Simpson, Pearce & Co.
New York
MELLOR & RETRY
8treet, New York
N. Y. Stock
CHARLES FEARON A 00.,
lx
-
High-Grade
Members
OtTAKANTEED.STOO KS
1
Exchange
Investment Securities
Robert H. Allen.
Stanley D. MoGraw.
William M. Vance.
18 WALL
Investment
Bonds.
,
BANKERS.
Exchanges.
Tel. 2500 Rector.
If BUBERS
CO.,
Nos. 34-36 WALL ST., NEW YORK.
New York Stock Exchange,
Phila
HUDSON &
11 PINE
STREET,
Building
-
NEW YORK
E. & C. RANDOLPH.
Members New York Stock Exchange.
Ill Broadway, New York.
LADD ft TILTON BANK
PORTLAND
Capital Fully Paid - - - $1,000,000
Surplus and Undivided Profits $600,000
OFFICERS:
W. M. Ladd, President. R. S. Howard
Jr., Asst. Cash.
B. O—Idagham, V^-Pres. J. W.
Ladd, Asst. Cashier.
W. H. Dunckley, Cash. Walter M.
Cook, Asst. Cash.
Interest paid on Time Deposits and
Savings
Aoeounts.
Aeceansts ef
asUdted.
every
Open Market Securities Department
HORACE HATCH. Manager.
H.
Goadby & Co.
HiKKEBS AND BROKERS
HO. 74
BROADWAY, NEW YORK
Banks, Firms, Corporations and Individuals
Wa are
prepared to furnish depositors
facility consistent with good hanking.
H. AMY &
Dealers in Investment and Other Securities
of the
United States and Canada.
W.
OREQON
-
Established 1859
CO..
BANKERS,
44
and 46 Wall St.f New York.
INVESTMENT SECURITIES
Bills of Exchange.
Letters of Credit.
Jan. 15
1910.]
THE CHRONICLE
Igittattciat.
fttmuhl.
NATIONAL BANK
OF CUBA
WAttSfi*. }w,000,000 00
Deposits
......
OMk In Vault!
-
-
-
IX
16,000,000 00
-5,800,000 00
OFFICE OF THE
ATLANTIC MUTUAL INSURANCE COMPANY.
New York, January 21st, 1800.
rhe Trustees, in conformity with the Charter of the Company, submit the
on the 91st of December, 1908.
Premiums
Premiums
on
on
Marine Risks from 1st January, 1808, to 31st
Policies not marked ofl 1st January, 1908
Total Marine Premiums
following statement of its affaire
December, 1808
$4,051,188 25
................
....—...—$3,333,483 55
Premiums marked off from 1st January, 1908, to 31st December, 1908
HEAD OFFICE—HAVAHA
Interest received during the year
Rent less Taxes and Expenses
Branches
S4 OALIAlfO ST.. HAVANA,
m MONTI ST.. HAVANA.
$307,823 39
142,032 22
MATANZAS.
SANTIAGO.
GUANTANAMO.
SANTA CLARA,
SAGUA LA GRANDB
OAMAGUBY,
SANOTI SPlfelTUS.
OAIBARIBN.
$279,988 33
Less Salvages.
Re-Insurances
199,555 3 7
PINAR DBL RIO.
OAMAJUANI.
NEW YORK AQENCY—1 WALL ST.
i
$1,215,933 98
Returns of Premiums
$51,930 45
-——«...—
LIABILITIES.
ASSETS*
United States A State of New York
Stock, City, Bank and other Se-
Cable Address—Baa—ass.
curl ties
—
Real Estate
A
cor.
Estimated Losses and Losses Un¬
settled
$2,310,433 00
Premiums on Unterminated Risks.
717.712 70
Certificates of Profits and Interest
280,822 35
Unpaid
Return Premiums Unpaid
121,473 65
Certificates of Profits Ordered Re¬
deemed. Withheld for Unpaid
Premiums
22,339 35
Certificates of Profits Outstand¬
$5,442,792 00
800,000 00
Special deposits In Banks ATrustCos.
Wall A WllllamSts.,
Exchange Place.$4,299,426 04
Other Real Estate A
claims due the com¬
pany ............
A. B. Leach & Co.,
BANKERS,
Brotdwsj, NEW YORK
140 Dearborn
St., CHICAGO
88 State St., BOSTON
Chestnut Sc 4tb
St., PHILADBLPHIA
75,000 00
4,374,426 04
Premium notes and Bills Receivable
Cash In the hands of European
1,377,905 06
HEAT
&
LIGHT,
POWER
GUARANTEED
BOND8
CO
Street,
...
.$11,066,191 05
A dividend of Interest of Six per cent on the outstanding certificates of profits will be paid to the
holders thereof, or their legal representatives, on and after Tuesday the second of February next.
The outstanding certificates of the Issue of 1908 will be redeemed and paid to the holders thereof,
or their legal representatives, on and after Tuesday the second of February next, from which date all
The certificates to be produced at the time of payment and canceled.
Interest thereon will cease.
A dividend of Forty per cent Is declared on the net earned premiums of the Company for the yeat
ending 31st December, 1908, for which, upon application, certificates will be Issued on and aftes
Tuesday the fourth of May next.
By order of the Board.
Q. STANTON FLOYD-JONES, Secretary.
TRUSTEES.
HERBERT L. GRIGGS.
CLEMENT A. GRISCOM,
ANSON W. HARD.
LEWIS CASS LED YARD.
FRANCIS H. LEGGETT.
CHARLES D. LEVERICH.
LEANDER N. LOVELL,
GEORGE H. MA^Y,
JOHN CLAFLIN,
GEORGE C. CLARK,
CLEVELAND H. DODGE.
CORNELIUS ELDERT,
NICHOLAS F. PALMER.
HENRY PARISH,
DALLAS B. PRATT,
,
GEORGE W. QUINTARD.
A. A. RAVEN.
JOHN L. RIKER.
DOUGLAS ROBINSON,
GUSTAV H. SCHWAB,
WILLIAM SLOANE.
ISAAC STERN.
WILLIAM A. STREET,
CHARLES H. MARSHALL.
W. H. H.
MOORE.
RICHARD H. EWART
A. A. RAVEN, President.
CORNELIUS ELDERT, Vice-President.
SANFORD E. COBB. 2d Vice-President.
CHARLES E. FAY. 3d Vice-President.
JOHN H. JONES STEWART. 4th Vice-Pretidem,.
Co., Nederlandsch Admmistratie- & Trustkantoor
(NETHERLANDS ADMINISTRATION & TRUST COMPANY.
216 Sing el - AMSTERDAM. (Holland.)
BANKERS
S# Pine
Aggregating
$12,824,105 23
Aggregating
7,363,410 00
270,000 00
....
399,031 95
429.950 18
AN I Must
A. H. Bickmore &
ing
Real Estate Reserve Fund
Bankers to pay losses under poli¬
cies payable In foreign countries.
Cash In Bank
GUSTAV AMSINCK.
FRANCIS M. BACON.
JOHN N. BEACH,
WILLIAM B. BOULTON,
VERNON H. BROWN.
WALDRON P. BROWN,
NATIONAL
479,543 70
Expenses, Including officers* salaries and clerks* compensation, stationery,
—$344,266 85
newspapers, advertisements, etc............—
Syedalty.
Site Depositary (M the Ponds •( the Republic ef
Cnbn. United States Depositary la Cate.
149
$449,355 81
Losses paid during the year which were estimated in 1907
and previous years
.....
... $420,855 48
Losses occurred, estimated and paid In 1908
—1,274,822 22 $1,695,477 88
0ARDBNA3.
OIINFUBOOS.
MANZANILLO.
CnBectiene
33.307,807 24
743,389 01
New York
H. MEIN KHZ, President
Board of Directors!
H. WALLER. L. D„
$fw &0vtKummt &ccimutxut
Chairman,
de Kook 4b Uyt den Bogaard.
A. H. BOISSEVAIN,
Director of Swiss Bankverein and
of Labouchere Oyens 4b Co’s Bank.
J. A. DUYNSTEE.
Telders 4b Co.
.F. Th. EVERARD.
Banker.
A.
P. O. BOX ST. MAIN OFFICE
WASHINGTON. D. C.
OFFICIAL ORGAN OP THB ASSOCIATION OF
AMBRIOAN OOVBRNMBNT ACCOUNTANTS
A MONTHLY MAOAZINB OF INTBRBST TO
AMOUNTING AND FINANCIAL OFFIOBB8
OF MUNIOIPAL1TIBS. BANKS. RAILWAYS
AND OTHBR PUBLIC SBRVIOB OORPO
VATZONS.
FOSBB POUNDUN ALL LEADING CBMTXFZBB
PUBLIC ACCOUNTANTS' OPFIOB8.
Ph. MEES.
R. Mees 4b Zoonen.
H. MEINESZ.
President.
P. M. J. OILISSEN.
G. H. DE MAREZ OYENS.
Labouchere Oyens & Co’s Bank.
A. L. a. H. PICHOT.
AUG.
W. M. SCHEURLEER.
Arnold GUlsseh.
Acts
Acts
as
Kalff
4b
Co
Executor,
as
Westerwoudt & Co.
KALFF,
Jan
Trustee of
Scheurleer 4b Zoonen.
Administrator, Trustee, Guardian, Agent, etc.
Corporation Mortgages.
Sample Copy 15 easts. Per Annum 815
1850
1000
The United States Life
Insurance Co.
FIRST NATIONAL BANK
OF CINCINNATI
IN THE CITY OF NEW YORK.
Issues Guaranteed Contracts.
RESOURCES
JOHN P. MTJNN, M.D., Piesideat.
_.
_____
_
•
Finance Committee.
JAMES R. PLUM..
Leather
OLARE1TCE H. KELSEY. Pr-.TltleGil.ATr.Oo.
WM. H. PORTER. Pr—. Chemical National Bank
Good men, whether experienced In life Insurance
or not. may make direct contracts with this Company,
for a limited territory If desired, and secure
for themselves, in addition to first year's commit*
Mon. a renewal interest Insuring an Income for the
Addr—s the Company at Its Home Office
No J277 Broadway ^NewnYerkftOttyM
JOS.
c-
RAWSON,
Vice-President
“vKl,
C. J. STEDMAN.
Vice-President
R. McEVILLEY,
Asst. Cashier
-
P. E. KLINE.
Asst. Cashier
C. A. STEVENS.
Asst. Cashier
W*'WKBL*
S. R. BURTON.
View-President
$40,000,000
T. J. DAVIS.
Cashier
W. P. STAMM.
Asst. Cashier
J. J. ROWE.
Asst. Cashier
THEO. BAUR Jr..
Mgr. Foreign Dept.
1
THE CHRONICLE
X
'
5.
.
[VOL.
LXXXX.
(&uxxtnt jjjatxfl Ittjqttteiejg.
Weatherford Mineral Wells & Northern 5s, 1930
CHESAPEAKE & OHIO
Baltimore Chesapeake & Atlantic 5s, 1934
Grain Elevator Co. First Mortgage
1V Waiianisport & North branch 4J$s,,1931
4% Gold Bonds
Duluth Rainy Lake & Winnipeg 5s, 1916
Due October 1, 1938
Maryland Delaware & Virginia 5s, 1955 ■
Guaranteed. Principal and Interest,
Toledo Terminal Railroad 4J^s, 1957
by endorsement by the
Gulf Beaumont & Kansas City 6s, 1913
Chesapeake ft Ohio Railway
Kansas & Colorado Pacific 6s, 1938
PRICE, 84ft AND INTEREST. YIELDING 5%
Pere Marquette Refunding 4s, 1955
Great Northern of Canada 4s, 1934
W. Walker & Co.
Litchfield & Madison 5$, 1934 6.
Texas Central 5s,
^ 'j
tf Broad St.
Telephone
*
i
.
• -
■_
.
.
\
T y
\
.
•
New York
100-101 Broad
DEALT IN
AND ALL OTHER STEAM RAILROAD SECURITIES
Seaboard Air Line Ry.
F.
3 and
10-year 5s, due 1911
Chicago Burlington ft Quincy RR.
Debenture 5s, due 1913
Chicago ft North Western Railway
Debenture 5s, due 1933
J. LEMAN & COMPANY,
SPECIALISTS IN STEAM RAILROAD SECURITIES
Members N. Y. Stock Exchange
30
BROAD
NEW YORK
STREET,
:
Land Title ft Trust Go. Building, PHILADELPHIA
State Savings Bank Building, HARTFORD
* j
SUTRO BROS. & CO
BANKERS
We
are
We
are
buyers of High Premium bonds
buyers of Good Obligations ma¬
LIBBEY A STRUTHERS
in 1910
55 Cedar Sireet
Telephone 1000 John
We are buyers of uncurrent underlying
Premium Industrials
We are buyers of underlying
7ll.f»j»>fr8 Bread
Metro¬
Robt. G lendi n n i ng
Central Pacific 3J^s
Wilkes-Barre ft Scranton 1st 4^s
Easton ft Northern RR. 1st 4^s
Jefferson M. & I. 2d 7s
>5 Broad St., New Vprk
Houston & Texas Cent. 4s, 5s,
Richmond & Allegheny 1st 4s
,/
PROCTER & BORDEN
St. Paul & Duluth 4s
.EQUITABLE BUILDING. NEW YORK
Lehigh ft New York First 4s
6s
Choctaw Okla. ft Glxlf ubnSol. 6s
Huntingdon ft Big Sandy First 6s
Westchester Lighting* Go: First 5s
Wilmington Gas Co. First 6s
Gognty*of Lucerne, Pa., Finding 4s
t
St. Paul & Duluth 1st 5s
Morris
Essex
7s, 1915
WANTED
SEABOARD AIR LINE
St. Paul,
Chicago ft Erie 1st 5s, due 1982
Rio Grande ft Western 1st 4s, due 1939
Duluth ft Iron Range 1st 5s, duel937
Chic, ft Western Indiana 4s, due 1963
Macon Dublin ft Savan. 1st 5s, due 1947
Dot. Gr. Rap. ft West. 1st 4s, due 1946
Flint ft Pere Marquette 1st 5s, due 1939
Atlantic ft Danville 1st 4s, due 1948
Dubuque Div. 6s
Mil. Lake Shore & West. 6s
FjERRIS * WHITE,
Tel. 1827-3 Hanover
We Own and Offer the
following
Mason
Georgia BR. A Bankg. Go.
RR. Go.
Shares Augusta & Sav. RR. Co.
100 Shares Southwestern
J. H. HILSMAN
& CO.
BMNRB
BUILDINQ.
ATLANTA. QA.
0 * v?
;',v1 * f
•
-l*'!;
WE WANT TO BUY 4
Balt. & Ohio 1st 4s
Temple Iron 4s
Atlanta Gas Light 5s
j
Office. 50 CONGRESS ST.. BOSTON
Telephones, 2540-2541-2542 Fort Hill
Private telephones between New York and Boston
NEW VQ^(C.
BECKER & CO.
18 Wall
Toledo Walhonding Vy. ft
Willmar ft Sioux Fallals
0. B. ft Q. Iowa 5s
Ohio 4J4»
Wabash Omaha Div. 3J^s
City & Ft. Dodge 4s, 1955
.
34 Pin, strwt
Tel. 985 Rector
YORK
Branch
to
Ciendar
BURQPSS, LANC & CO.
Rep; df Cuba Internatl. 5s
Columbia & Greenville 6s
Edison Elec of New Orleans 5s
Elsewhere.
Tel. 5140 to 5153 Broad, Inclusive
Boston.
*
United States and
Wise. Minn. & Pacific 4s, 1950
Duluth Rainy Lake & W. 5s, 1916
& REEVES
Canton-Mas. El. Ry. 1st 5s, 1920 Tel. 1604 John
84 Pine Street. New Yerfc
City of Minneapolis 4s, 1917
WE OFFER
Bangor & Aroos. 1st 5s, 1943
Missouri Kansas & Texas of Texas
New Haven Deb. 4s, 1956
;
68, |942
Col. New. & Zanesv. 1st'5s, 1924
A first mortgage -Main Line Bond
100 Shares
J. H
In .the
30 BROAD STREET, NEW
76'State Street
Street,
New York,
GUARANTEED STOCKS
w
frederigTT hatch & CO.
Dealers in Unlisted and Inactve Securities of
Railroads and Other Corporations
87 Wall St.. New York
18 Wall
100
Hanover Fire Insurance
Phenix Insurance (Bklyn)
WE HAVE FOR SALE
Adjustment 5s
& Co.
pmt.l TVRT.PWTA
Oregon Short Line 4s
GO.,
.
Members New York Stook Exchange
400 Chestnut Street
politan of New York Issues
A. A. LISMAN
44 PINE STREET. NEW YORK
St., New York
Private Wlra
9Vi,'
**
FOSTER A, ADAMS
BOSTON
so Stati Stmt
yield #;66%
on Application
Members N. Y. Stock Exchange
1
WALj. STREET.
jNEy; YORJKC1TT
i-j
Telephone 1S46 John
WE OWN AND OFFER
bonds
-OF-
UNQUESTIONABLE : SECURITY
NetUnf troiq
to «%.
Requests for information either by personal interviews or corwiU be gladly received and attended to
promptly.
Alliance Gas ft Electric F&sr6s~
Alliance Gas ft Power Refunding 5s
Buffalo ft Susq. Ifoa Wm
^ 1
i
Buffalo ft Susq. Iron Debenture 5s
Git. RyQft Lt. (Mtsfcatin#, 14.) 1st 5s
Pifi^rcCy u4cK.ifiii6y & Co.
Iftoww
\ IH
Bes$oi>
wanted
Goal $ Iron Ngfl Bank
Royal Baking Powder Pref.
j
f
PHILADELPHIA
AY LING ft COMPANY
BOSTON
YSCVipNCE
LUTZ » COMPANY
Bank ft Trint Company Stocks
'
25 Broad St,,
tClvlT. 3&L 27#Rf0ad
Jan. 15
1910.]
THE CHRONICLE
gotm gtiqttlKt«5.
~lVfV'ar>nAA,,xn',r,'<'W*‘l'<‘,'AJVXAAAAi^^
OFFER
ti'-Vt*. *#■*■?■
Houston Belt & Terminal 5s, 1937
Pitts. Shen. & Lake Erie 5s, 1943
St. Louis & San Francisco AHs. 1912
New England Watch Co. Stock
f',
WIS- JVIINN. & PACIFIC 1st 4s
PROVIDENCE SEC. DER. 4f
Hudson Companies Preferred
SO. RY ST. LOUIS DIV. 4s
CIN. HAM. & DAYTON 4£s tb 6s
NATIONAL STARCH 00. 6s & 6s
Intercontinental Rubber Co. Common
WANT ■tl
XI
t/'
Kansas City & Pac. 4s, 1990
Atlantic & Danville 4s, 1948
Maine Central 7s, 1912
Mexican International 1st 4s, 1977
Traction, Industrial and Powor Co. bond* and stock* bought and sold
Eludson Companies 6s, 1911
ntercontinental Rubber Co. Common
lew England Watch Co Stock
Gude,Wlnmill &Co.
I
BANKERS
20 BROAD
& CO.
Tel. 1610 Broad
STREET, N. T.
25 BROAD ST.. N. V.
Telephone 445-6-7 Rector
Chic. Rock Isl. A Pac. Gen. 4s, 1988
Chicago & N. W. Ext. 4s, 1926
Bur. Cedar Rap. & Nor. Gons. 5s, 1934
XerminaTAssn. of St. L* 4s A 4J^s
Wheel.
E., Wheel. Div. 6s, 1928
Wheel. & L. E. Ext. & Imp. 5s, 1930
NEWBORG & CO.,
MEMBERS N. Y. STOCK EXCHANGE
69 BROADWAY. N. Y.
„
Telephone 4390 Rector*
Cable Address,
"NEWROSE"
PRIVATE WIRE TO ST., LOUIS,
WE
WILL
BUY
Temple Iron 4s, 1925
Chicago Subway 5s, 1928
York Haven Water & Power 1st 5s, 1951
Holly Mig. Co» 5s. 1921
!
Penn. Coal & Coke 5s. 1953
Penn. Central Brewery 6s. 1927
>
...WE
JWJ-l., SELL
.
American Malting 6s. 1914
Schwarzschild & Sulzberger 6s, 1916
Detroit & Flint 5s. 1921
O’Oara Coal Bonds and Stock
National Carbon Prefored
Central Foundry 6s. 1919
Detroit & Port Huron Shore Line 5s, 1950
WE OFFER
Michigan Central Debenture 4s
Michigan Centra! Collateral 3J^s, Reg.
MEGARGEL & CO.
BANKERS
5 Nassau
Street,
r
Erie General 4s
NEW YORK
,
k
Pennsylvania Convertible 3J^s, 1912
Baltimore & Potomac 1st 6s, 1911
Minn. S. S. M. & Atl. 1st 4s, 1926
Rock Island General 4s
Wabash Toledo & Chic. Div. 4s
Southern Pacific Convert. 4s
Reading-Jersey Cent. coll. 4s, 1951
Chicago & Erie 1st 5s, 1982
Buffalo Creek 1st 5s, 1941
Iowa Central 1st 5s, 1938
Wis. Cent., Sup. & Dul. 4s, 1936
Cent. Ga. RR. & Banking 5s, 1937
Missouri Pacific rights
EYER
LEO SPEYER
Member N, Y. Stock Exchange
OFFICE AT
ARTHUR LIPPER & CO.
29 BROAD STREET, NEW YORK
& COMPANY
Atlantic Coast Electric RR. 1st 5s, 1945
Tel. 7760 1-2-3 Hanover
T
ST Wall Street
N. Y. N. H. & H.
NEW YORK
GILMAN & CLUCAS
Nashville Chatt. & St. Louis 7s. due 1913
Hannibal & St. Joseph 6s, due ldll
Tele. 5657-8-9 John
Vandalia RR.. Series B* 4s, due 1957
Chicago R. I. & Pac. Oen. 4s, due 1988
Central RR. of N. J. Gen. 5s. due 1987
l>
N.. Y, Snsq. &
West. ReJ. 5s. due 1237
TAX-fcXEMPT GUARANTEED STOCKS.
HIGH-GR4PR PREFERRED JRR. x STOCKS.
Josepl) CUalRer^ $om
Members Newl ork Stock
20
“3ST
rin't*
I
t>i*
»H" I.« I'
'»
>»
ill
'I'
f 'i5
gg
NEW TORS,
'*$’
Holden Paper Co. 5s, 1919
White Investing Co. stock
Toledo Rys. & Lt. stock ctf. of
>5
Municipal, Railroad and
Wfc.
4’ ±
vta *-u ■
*
WANT
Sault Ste. Marie A Southwestern 5s
Toledo A Ohio Central 1st 5s
0. A 0., Warm Springs Talley 5s
Phila. A Read., Del. Riv. Term. 5s
»*•
i
t
!
PHILADELPHIA
Members Philadelphia Stock Exchange
’Phones Bell-Walnut 2290.
Keystone-Race 499
49 WALL ST.. N. Y.
..
Louisville Henderson & St. Louis 5s
Flint & Pere Marquette 6s, 1920
Toronto Hamilton & Buffalo 4s
N. Y. Central-Michigan Central Coll.
3J^s
Cleveland Terminal & Vqljey 4s
MaineCentral 7s ^ ^ ■
1
4^ Cincinnati Ind. & Western 4s
r,'a
Central Branch (U. P.) 4s, 1948
x Jefferson RR. extended 5s
.
'
.;
>*07 7.,
C.
t i
<»:.**' rfrV'.iU.'
> *
f
•
•
:i
-
'
Chicago Lake Shore A Eastern 4>£s
t *
Corporation
Edward V. Kane & Co.
dep.
North American Bnildint.
Cleveland Akron A Columbus 1st 5s
Chicago Hammond AvWestem 6s
NorAemOh^.^eji
r
BONDS
8. R. TAYLOR
Tel. 7855 Hanover
"
* rO
.
Public Service
Skchange, 5
Broa<|l&fcf* iSOSikl' &N«£I
'
34 Pine St.. N. Y. City
Buffalo & Lake Erie Tract. 5s, 1936
N. Y. & Pa. Tel. & Tel.,4s & 5s
Cin. Gas Transp. 5s, 1933
£fc?fk'!«laji4* Choctaw Coll. 4s. due 1914
due 1933
Metropolitan 5% certificates
Ft., Wayne Yen W. A Lima Trac. 5s, ’30
Central Ry. Syndicate subscriptions
Rochester Syracuse A East. RR. 5s,1945
Conv. Deb. 6s, 1948
United N. J. RR. & C. 3Hs, due 1951
Morris & Essex Ref. 3Hs. due 2000
Wabash RR. First 5s. due 1939
Western Pacific First its,
4
Lake Shore Collateral 3}4s
i?,
d r
A
|
MW
■■..-(8 "I
.
J>r.
.!.«,•
•
•
*
GOLDSCHMIDT
,25 &oad Stf«t, iN. Y.i
THE CHRONICLE
XU
[VOL.
IjXXXX.
fmqwtvies.
dttnetttt
—-«■--.«Ji»«««««*>^aaaw».w»VWi»%»»«%www»aa<»aaaaaaaaa<ww»a^aavmwW»WWWW^Wwwwaa<wiaa<wm>^^^^—
l60?Amer. Typefounders Pref. ft Oom.
100
100
100
100
100
100
100
100
10
100
15
100
Bush Terminal Go.
du;Pont Powder Go. Com.
Federal Sugar Pfd.
Ingersoll-Rand Com. ft Pfd.
Trenton Potteries Pfd.
Ghilds Go. Com.
Frick Company
American Manufacturing
National Light, Heat ft P. Pfd.
Am. LaFranceFire Eng. Go. Gom.
Title Guarantee & Trust
U. S. Light. & Heating Pfd.
WANTED
For Sale
Wanted
50
100
600
100
100
100
100
100
50
50
125
25
Amer. District
Telegraph (N. J.)
Barney ft Smith
Composite Type Bar
Light, Heat ft P., Oom.
Mahoning Investment
Albany Trust
National
American Thread
City ft Suburban Homes
Gray Nat. Telautograph
Knox Hat Pfd. ft Gom.
Union Typewriter Oom.
Union Typewriter 1st Pfd.
1,000 U. S. Light, ft Heating Oom.
HaUowdl & Henry
52 Bmt» Street, N.w York
TA 49M-7-8 Bml
Sen Sen Chiclet
Amer.
Wells
Fargo Stock
American Express
U. S. Express
Adams Express
Tri-Oity Railway ft Light Go. Stocks
LAM ARCHE & COADY,
Cincinnati Northern
Tel. 5775-9 Broad.
25 Broad St.. N. Y.
Lexington Ave. ft Pav. Ferry 5s, 1993
Columbus ft 9th Ave. 6s, 1993
Dealt in
J. K. Rice, Jr. Sc Co.
33 WALL STREET. N. Y.
Phones 7490 to 7499 Hanover
Metropolitan St. By. Gen. 5s, 1997
Second Ave. Gon. 5s, 1948
Kings Go. Elect. Lt. ft Power 5s, 1937
Central Union Gas 5s, 1927
PATERSON & CO.,
Canada Southern 2d 5s, 1913
Fonda Johnstown & Glov. 4^s, 1952
Tel. 1MM-T Rector
~
*0 Broad St.. N. Y
El. ft Mfg. Go. 6% Notes, ’10
Lexington Ave. & Pav. Ferry 5s, 1993 West’gh’se
Central of Georgia, Chattanooga 4s, 1951
[ Oregon Short Line 1st 6s, 1922
Central of Georgia Cons.JSs, 1945
Southern Pacific Refunding 4s, 1955
Railway Equipment Issues
M. WOLFF,
CMble Add. “MOWOLF” 27 William St.. V. T.
"
Phones 9567-6*59-6550 Broad
FREEMAN & COMPANY
S4 PINE STREET. NEW YORK
Telephone 5099 John
Johnstown Passenger Ry. Co. Refunding 4s. due
1931. Free of tax hi Pennsylvania
Chattanooga Ry. & Light Co. First and Refunding
WURTS,
DULLES & CO.
S.
Union Bailway, Gas ft Electrio
Portland Bailway, Light ft Powor
CURTIS & SANGER
Members N.Y., Boston & Chicago Stock Exchangee
Kings Go. Elect. Lt. New Convert.
S. C. HENNING & CO.
TRADED IN BY
71 Broadway.
NEW YORK CITY
WANT
8t. Jos. By. J«t.,Ht.ft P.Oo.Ist 6a,'37
Chicago
Minn, ft St. Louis Refunding 4s
Ohio Central Refunding 4s
Pere Marquette Refunding 4s
ALL LOUISVILLE LOCAL SECURITIES
LOUISVILLE. KY.
88 Wall Street
NEW YORK
Boston
Memphis Street Bailway
115 So. 5th St..
Spring Valley Water Co. 4s
Knoxville Water Co. 4J^s & 6s
H. C.
Splller Sc Co.
Specialists in Inactive Bonds
27 State street
Boston
WE WILL BUY
Pawtucket Qas 5s
Hudson River Elec. Power 5s
Kalispel Water A Elec. 5s
Peoria Water Works Con. 6s
Hudson River Water Power 5s
Superior Water, Light & Power Incomes
Atlantic Birm. & Atlanta 5s
N. E. investment Sec's Pref.
Pere Marquette Com. & Pref.
American Qlue Com.
Regdi Shoe Pref.
Whitman & Barnes Mfg. Co. •
U. S. Finishing Com. & Pref.
Union Twist iMlCdm. & Pref.
Kirby Lumbw Com. AlPref.
Boston Securities
Inactive Securities a Specialty
HOTCHKIN & CO.
STOCK EXCHANOE BLDG., BOSTON
Telephone 3449 Main.
Helena Light ft Bailway 5s
Detroit Gity Gas Gen. 5s
Lansing Fuel ft Gas Go. 5s
Battle Creek Goal ft Goke 6s
Oklahoma Gas ft Electric Preferred
H. L. NASON & CO.
By. 1st 5s, 1934
New Haven Debenture 4s, 1956
Western Pacific By. 1st 6s, 1933
5s, due 1953
FOURTH ST.,
PHILADELPHIA
Telephone Lombard 1060-1091
(N. Y.) Water Co. 6s
BANKERS
Atlantic ft Birm.
St. Clair County Qas & Electric Co. Consolidated
■hQuaranteed 6s, due 1959
Ill
Albion
Houston (Tex.) Water Wks.Co. 6s
New Hampshire Elect. Ry. Stocks
So. Yuba (Cal.) Water Co. 6s
Stockton (Cal.) Water Co. 6s
Omaha Water Co. Stocks
Light ft Traetion Go. Stocks
Pacific Gas ft Electric Go. Common
Amor. Gas ft Electric Go. Stocks
Del. Lack. & West. Coal
Tallahassee (Fla.) Water Co. 6s
Utah Light & Power Co. 4s & 5s
Peoria Water Co. 4s
MILTON WEBER
S BROAD STREET
Pough.Lt., Ht.ft P. Go. 1st 5s, 1921
Nowb. Lt. ,Ht. ft P. Go. 1st 6s, 1921
lU-fs*?*}0”**
National Shawmut
Baric Bail ding,
Boston, Masa.
Paris Water 3s
Arnold Print Work 6s
Twin State Gas ft Electric
4j^s
Empire Goke ft Interurban Gas 6s
Oolo. Sprgs. ft Electric Power 6s
Guanaj. Bed. ft Mines 6s with stock
Atl. Birm. ft Atlantic Equipment 6s
F. W. MASON & CO.
Amer. Water-Works ft Guar. Go. Stock
Butte Electric ft Power Go. com.
Omaha Water Go. 5s
Knoxville (Tenn.) Water 4s
Cincinnati Richmond ft Muncie 5s
DEALER IN
C. H. FARNHAM
Ga. Gar. ft Northern 1st 5s, 1929
BUFFALO, ROCHESTER AND
27 STATE STREET. BOSTON
Sutton,
Strother & Co.,
Calvert and Qerman Streets
SYBAOUSE SECURITIES
BALTIMOBE
MALCOLM
90
Members of Baltimore Stook Exchange
Railroad and Other
Investment Bonds
49 Wall Street
American Power ft Lt. Oom. ft Prof.
Oklahoma Gas ft Elect. Gom. ft Prof,
flu* Diego Gen’s Gas ft Eloe .Oom. ft Prof.
Axtsona Powor Go. Oom. ft Prof
WILLIAM P. BONBRIGHT t CO
Members of New York Stock Bxshstige.
14 BROAD STREET. NEW YORK
Cslerode Springs, Cel.
14 Ocerge St., Maaelea Heaae, London, B. C.
CNICAQO—Richard Fits (braid, lit Nat. Bank Bldg.
BOSTON—R. A. O B. L. Manning. If Congress St
PHILADELPHIA—M. W. Stroud Jr., Lafayette Bldg.
Broadway,
Telephone.
NEW YORK
155 Reetor.
WARREN, GZ0WSKI & CO.
Am. Tel. ft Tel. Oonv. 4s,
Am. Tel. ft Tel. Ooll. Tr.
N. T.
Canadian Bonds
TORONTO
NEW YORK
25 Broad St.
4 Col borne St.
Offices Connected by Direct Wire.
a
9
Harrisburg Qas Co. First 5s. 1928
Indianapolis Northern Tract. 5s, 1932
Buffalo A Lake Erie Tract. 5s, 1936
Auburn Light, Heat A Power 6s. 1929
Philadelphia
American Brake Shoe Oom. ft Pref.
Amer. Power ft Light Oom. ft Pref.
Oentr&I
Railway Syndicate
Safety Gar Heating ft Lighting Go.
WM. M. CLARKE
Td..lUMUT Rtctar
4s, July 1MI
GEORGE L. WARE
M. N4 Italn
M State St.. BOSTON
Cuban Internal 5s
Delaware ft Hudson
Befdg. 4s
Chicago Milw. ft St. Paul Gen. 4s
Chicago ft Great Western 4s
GILBERT ELIOTT & CO.
NEW
SAMUEL K. PHILLIPS & CO.
421 Chestnut St
March IBM
Telephone 4^>» Nevemhev 1MB
Members Toronto Stock Exchange
C. K. B. WADE
Tel. 6744 Hanover
STUART
YORK*4 P,NE SrREBT
FOR SALE
Lehigh VaUey Term. 6s.
Oct. 1941
N. T.
Susq. ft W. Term. 5s,
May 1943
W. E. R. SMITH & CO..
M Broad St.. N. Y. t# Broad Street
-
-
New York
JAN. 15
THE CHRONICLE
1910.]
gimuuclal.
TTTT
glttattjcial.
fPttatxcial.
wish to secure an income of 6% $30,000 Elberton, Ga., 6s, 1929-1939
8% investing in securities of the 60,000 Fitzgerald, Ga., 6s, 1938
following companies, write us. We make 76,000 Savannah, Ga., 4^s, 1969
a specialty of trading in them.
10,000 Thomson, Ga., 6s, 1938
Attar. Pork A Hoe Co. ' Or. Rfp^luik. Pow. Co.
100,000 Charleston, 8. 0., 4s, 1929
Qrand Rapids Railway
Attor. Qu A Elec. Co.
28,000 Jacksonville, Fla., 6s, 1924
Aaierican Hominy Co.
IS. Tract. Co.A Sub. Co’s.
60,000 Ga. RR. ft Bkg. Go. 4s, 1947
Att.LauudryMach.Mfg.Co. Indiana A Mich. Elec. Co.
16,000 Gent .RR .ft Bkg.Go.of Ga.6s,’37
American Seeding Mach .Co. Kansas City Stock Yds. Co.
100 Shares Aug. ft Sav. RR. Go. Stock
Atchison Ry. Lt. A P. Co. Lansing Pud A Oas Co.
If you
to
.
Menominee
Light A Tree. Co.
Met. Oas A Electric Co.
Michigan State Tel. Co.
Gas A Pod Co.
Brandon Elec. Light Co.
Gslpury Water Power Co.
fHiBtf* Pennell Lumber Co.
Central Coal A Coke Co.
Chicago Lumber AConl Co.
Cldc. A MBw. Elect. RR.
Coounonwealth Power Co.
Continental Sugar Co.
Cumberland Td. A Td. Co.
Detroit Edison Co.
Duluth Sup. Traction Co.
Qlebe Wernicke Co.
Qrand Rapids Edison Co
A
Marinette
Beatrice Creamery Co.
Beaton Harbor A St. Joe
Michigan United Rys. Co.
816 First National Bank
AUGUSTA, GA.
Rocky Mt. Bell Td. Co.
St. Louis Car Co.
Topeka Edison Co.
Topeka Railway Co.
Tri-City Ry. A Light Co.
Western Rys. A Light Co.
A Sub. Co’s.
Zenith Furnace Co.
MUNICIPAL
(4%
\
RAILROAD
to
( 6%
CORPORATION
Chicago.
RONDS
Upon Application
BANKERS.
Washington
C. B. Van Nostrand
UW YORK.
Swartwout A
on accounts
BATTERY PARK NATIONAL BANK
of
Corporations
Dus
wm.inw.wnt
Members Phlla. Stock
214 North 4th Street, ST. LOUIS
Denver & North Western 6s & Stock
Denver Tramway Sinking Fund. 1982. 6a
Denver Con. Tramway, 1932. 5s
Denver Tramway, 1919, 6s
Enver Gas & Elec. 6s
Bankers ft Oemmtssion Mirohiate
-
•
NEW
299 BROADWAY, NEW YORK
WEBB & CO.
INVESTMENT SECURITIES
INVESTMENT SECURITIES
BOUGHT AND SOLD
74 BROADWAY
Offer. Executed
READY
JANUARY
•
•
•
NEW YORK
17
Hand-Book of Securities
JANUARY 1910,
EDITION
Railroads and Leading Industrial Companies—Statement showing
w. c. Packard
DENVER. COLO
C0.v
Bankers
MEW YORK
TaXafhene 2249 Rector
Cincinnati
Bank and Trust Co. Stocks
Central Union Telephone
Stock
CLIFFORD ARRICK
R. T. Wilson & Co.
CONTENTS.
Securities
Colo. Telephone Co. Stock
UTS. Red. A Ref. 6s
Nevada-Calif. Power Co. Securities
M Talbott Bide.'
Exchange
George 1. Hovey & Co.
nver uas Stock
nver Union Water
-
MDWYM B. DAY<
St WALL STREET
FRANCIS,
BRO. & CO.
(Established 1677)
P. J. G00DHART &
CAPITAL AMD IVBFLVI, HIM
B. A. M LIMA. Pmt.
leorge B. Atlee A Co.
$80,000 St. Louis City 4s
„_.192«
25.000 St. Joseph. Mo.. School 4a........102$
26.000 United Rys. (St. Louis) Gen. 4a
1024
26.000 Alton-Granlte A St. L. Traction 6a.l944
26.000 Miss. Glass Go. (St. L.) Pint 6a
1*24
26,000 Gaston County. N. C., 4a—.—..1026
26.000 St. Louis Transit 5s
.1924
25.000 Morris A Co. First 4 Ha
1969
60,000 Fort Worth. Texaa, School 4 Ha
1949
15,000 Alton Railway A Elect. 5a
1969
10,000 California Gas A Elect. 5a
1927
60.000 Hucklna Realty 6s
1918-24
60,000 Fxlsoo General Lien 5s
...
1927
20.000 Fxlsoo Equip. 6a
.1612-16
(Guar, by American Car A Foundry do.)
TWO HOADWAY (Mm Buh.BSc.)
Shipping aad Ispert Atoetnfts Invited
Susq. Blooms, ft Berwick^
City of Pittsburgh 4s and 6s
Penna. Borough 4s netting 4%
119 S. 4th St.,
-
INDUSTRIALS
Appenzellar
NEW YORK CITY
44 Pino Street
BONDS
414 Cooper Bldg.,
66 WALL STRUT
We have just issued a new edition of our Wall
Card, tabulating listed and unlisted Convertible
Bonds, showing conversion prices and privileges,
rates, method of computing, etc.
Sent upon
Altoona Gas 6s
Individuals and
ST. LOUIS. MO.
Pittsburgh
Members N. Y. Stock Exchange
Interest allowed
D. ARTHUR BOWMAN
request.
BANKERS
INVESTMENT
Very Desirable
Third Nat Bank Bldg.
STREET. NEW YORK
CONVERTIBLE BONDS
T. W. STEPHENS & 00.
Attractive Issue, Well-Secured and
Send for Illustrated Circular,
Particulars and Prices
Lawrence Barnum & Co.
Request.
S WALL STRUT.
6% CAREY ACT BONDS
Selected for Conservative Investors.
Brokers in High-Grade unlisted and
27-29 PINE
inactive corporation securities of Cen¬
tral and Western United States and Philadelphia
Canada.
Circular of “Securities Wanted and
998 Walnut
Bldg.,
CHICAGO.
Roberts* JohnsonARaadCo.
(22 Monroe Street,
AT BROADWAY
properties of unquestionable merit.
Correspondence and investigation in¬
CAMERON & COMPANY
JOHN W. DICKEY
Nat. Cash Register Co.
Pioneer Tel. A Tel. Co.
R. H. GOODELL & CO..
on
attractive prices to banks and bond
houses who wish to purchase entire
issues or parts of issues of such bonds,
which are secured by 1st Mortgage oh
100 Shares Southwestern RR. Go. Stock vited.
100 Shares Ga. RR. ft Bkg. Go. Stock
Lists Mailed
For Sale99 sent
CAMERON ft COMPANY, dealers In
IRRIGATION AND HYDRO-ELEC¬
TRIC BONDS, are in position to make
INDIANAPOLIS
outstanding Stocks and Bonds and also the Income for a series of
yean past, as well as the annual charges against income.
Highest and Lowest Prices—Monthly for
year
1908 and 1909.
Yearly Range of Active Stocks—1906,1907,1908 and 1909.
Dividends
on
Railroad Stocks and Leading Industrial Stocks—
paid yearly from 1903 to date.
PRIGS OF SINGLE 0OPIB8,
TO SUB80BIBSB8 OF THB CHRONICLE
WILLIAM B. DANA
-
81 00
76
COMPANY, Publishers,
FRONT. PINE AND DBPEYSTER STREETS. NEW YORK
F.J
.t
x 4
,
xiy
THE CHRONICLE
%
a
>♦»»«?»»>'>*-'« l»—nH
glatxTi %Xt titans.
-
i.'
COAL & IRON NATIONAL BANK
Capital and Sttfpltis, $1,300,000
New York, Jaiiuary.11, 1910.
\ ' At the annual meeting of the Stockholders of
tflla Bank, held this day, the following-named
gtentlemen were duly elected Directors for the
ensuing year:
Arefld,
Treas. Delaval Separator Co.
Wm. G. Besler,
V.-P. of Central RR. of N. J.
D^G. Boissevaln, •
Director Rock Island Co.
mi Fi Bums,
Prest. Bumd Brothers Coal Co.
George H. Campbell, Gen.Supt.B. & O. RR. Co.
Daniel F. Connor,
of Whitney & Kemmerer
A, A. Cook,,
of Leventritt, Cook & Nathan
Huniry lx deforest.
\
De Forest Bros.
AWdofi Doad,
’
Director Burns Brds., Coal
H. W. Douty, Real Estate
Agt. Cent.RR.of N.J.
W. Butler Duhcarf Jr.,
Havemeyer Estate
George D. Harris,
of Geo. D. Harris & Co.
John C. Juhring,
V.-P. Francis H.Legget & Co.
Albert B. Kerr,
Zabrlskie, Murray, Sage & Kerr
Anthony A. Lisman,
of A. A. Lisman & Co.
E. E, Loomis,
Vice-Pres. D. L & W. RR.
Janies H, McGraw,
Pres. McGraw Publlsh’g. Co.
John A. Middleton,
1st V.-P. Lehigh Valley RR.
James H. Parker,
Pres. Mutual Alliance Tr. Co.
Edwin H. Peck,
of E. H. & W. J. Peck, Coffees
Wm. B. Randall,
Director Dairy Products Co.
Wm. S. Dodie,
Pres. North River Coal Co.
George Sheffield,
of Sheffield & McCullough
.
G.Nelson
.
John T. Sproull,
Wm, EL.Taylor,
President
Pres. Goodwin Car Company
Second Vice-President
Agt. Royal Bk. of Canada
Geo.O.Waterman, Treas.Lehlgh & W-B Coal Co.
Samuel Well.
Director United Shoe Mach. Corp.
Wm. H. Woodin,
American Car & Foundry Co.
David Taylor,
Stephen H. VdOrhees,
The
Hanover
National
OF THE CITY OF
Bank
NEWjVORK "
New York, January 14th, 1910.
At the annual
meeting of the stockholders of
this Bank, held on the 11th
Instant, the followingnamed gentlemen were
duly elected Directors
for the ensuing year:
VERNON H. BROWN
WILLIAM BARBOUR
J. WILLIAM CLARK
JAMES M. DONALD
WILLIAM C. DUNCAN
JAMES FRANCIS FARGO
E. HAYWARD FERRY
WILLIAM HALLS JR.
WILLIAM DE F. HAYNES
ARTHUR CURTISS JAMES
CHARLES H. MARSHALL
CORD MEYER
SAMUEL T. PETERS
JOHN S.,PHIPPS..
r
C
i
,
>
!
V*.
,
.
At a
..
.«
At the Annual Election for
banking house
an
1
Directors, held at the
January 11th. the followingDirectors of this
RbosiviLf:
AUGUSTUS D. JUILLIARD,
GEORGE G. DE WITT,
ROBERT WALTON GOELET,
HENRY P. DAVISON,
JOSEPH^B .^MARTIND^’LE.
T
Henry P. Davison,
SAVOY TRUST COMPANY
520 BROADWAY. NEW YORK
Statement of Condition Jan. 1
RESOURCES.
Bonds and mortgages.Stock and bond investments
1910
$172,900 00
344,494 30
1,227,256 01
1,447 83
17,29180
639,426 10
13,972 10
14,920 00
Loans
Overdrafts
Real estate
Cash and due from banks
Furniture and fixtures
Accrued Interest entered.
Total
$2,431,708 74
LIABILITIES
Capital stock
Surplus and profits
Deposits
$500,000 00
65,164 02
Certified checks
1,836,544 72
30,000 00
Total..i-u—
.$2,431,708 74
Garfield National Bank
held
on
12th, 1910.
shareholders
January 11th, 1910, the
Gelshenen,
Thomas D. Adams. 4
At a regular meeting of the Board of
Directors,
held this day, the following officers were unani¬
mously elected: Mr. Ruel W. Poor, President;
Mr. James McCutcheon, Vice-President.
W. L.
Board, held this day, Wm
p®«rter. President, and Joseph B. Martindale!
DOUGLASS, Cashier.
The Citizens Central National Bank
of New York
New York, January 14, 1910.
At the annual meeting of the stockholders of
this Bank, held the 11th Inst., the
following-named
gentlemen were unanimously
for the ensuing year:
Francis M. Bacon Jr.
Carl F. Boker
Albion K. Chapman
Ralph L. Cutter
elected
Directors
Jacques Huber J
Darwin P. Kingsley
Woodbury Langdon
Augustus F. Libby
Daniel A. Davis
Henry Sampson
L. F. Dommerich
Edwin S. Schenck
Frederick T. Fleitmann
James Stillman
Robert B. Hlrsch
Henry B. Stokes
Edward A. Walton.
At a meeting of the Board of Directors held this
day, Mr. Edwin S: Schenck was unanimously re¬
elected President and Mr. Francis M. Bacon Jr.
was
Ata meeting of the
Vice-President,
Henry C. Tinker,
was
named gentlemen were elected
Bank for the ensuing year:
unanimously re-elected Vice-President.
ALBION K. CHAPMAN, Cashier.
\
New York,
January 12th, 1910.
At the annual meting of the
Stockholders of
this Bank, held on January 11, the
followingnamed gentlemen were elected Directors
for the
ensuing year:
August Belmont,
E. W. Bloomingdale,
Alfred M. Bull,
D. Crawford Clark,
Elbert H. Gary,
R. H. Higgins,
Henry K. Pomroy,
Edwin A.
Potter,
THE NASSAU BANK
of the City of New York.
Phenix National Bank.
-
Geo. E. Roberts,
Wm. Pierson Hamilton.
EdwaTd Shearson,
Frederick D. Underwood,
Robert P. Perkins,
George Cofflng Warner.
Finis E. Marshall.
Subsequently at a meeting of the Board of
Directors, held this day. Finis E. Marshall was
re-elected President and Alfred M.
Bull, VicePresident.
BERT L. HASKINS, Cashier.
The Seaboard National Bank.
FOUNDED
New York, January 11, 1910.
,
At the Annual Meeting of the Stockholders of
the Nassau Bank, held this
day, the followingnamed
gentlemen were unanimously elected
Directors for the ensuing year:
JAMES C. BELL,
SAMUEL R. WEED,
«
HENRY C. MILLER,
JOHN MUNROE,
HARRY BRONNER,
RICHARD YOUNG,
EDWARD EARL.
At a subsequent meeting the
following officers
were unanimously re-elected: EDWARD
EARL,
President; JAMES C. BELL and JOHN MUNROE
.hi
Chelsea
Exchange Bank
34TH STREET & 8TH AVE.
New York, January 12, 1910.
At the annual meeting of the shareholders
of
this bank, held January llth,
1910, the followingnamed
gentlemen
were
unanimously elected
Directors for the ensuing year:*
s
L. Brown
George Spurgeon
Michael H. Blake
Irving M. Shaw
THE
•o
...■
H.Imhof,
BANK
OF THE CITr OF NEW YORK
New York, January 13, 1910.
At the annual meeting of the stockholders of this
bank, held the llth Instant, the following-named
gentlemen were elected Directors for the ensuing
year:
John A. Stewart, '
Edward Holbrook,
Elbert A. Brinckerhoff,
Joseph W. vHarriman.
Gustav H. Schwab,
William A. Taylor,
Donald Mackay,
George Zabrlskie,
Robert M. Gallaway,
James N. Wallace,
Charles D. Dickey.
Charles A. Boody.
At a meeting of the Board of Directors, held
this day, Mr. Robert M. Gallaway was unanimous¬
ly re-elected President and Mr. Elbert A. Brinck¬
erhoff and Mr. Joseph W. Harriman were unani¬
mously re-elected Vice-Presidents.
JOSEPH BRYNE, Cashier.
The Mechanics' National Bank
OF THE CITY OF NEW YORK
33 Wall Street
:
At the annual meeting of the Stockholders of
this Bank, held on the llth day of January, 1910,
the following directors were elected for the
ensuing years
Daniel Barnes,
V. Everlt Macy,
Thomas P. Fowler,
Horace E. Garth,
Henry R. Mallory,
Hefxry Hentz,
Thomas H. Hubbard,
William A. Jamison,
Clarence H. Kelsey,
Andrew A. Knowles,
Lowell Lincoln,
Gates W. McGarrab,
John T. Willets,
Edgar L. Marston,
S. T. Morgan, ’
Alexander E. Orr,
Nicholas F. Palmer,
Charles M.
Pratt,
George W. Qulntard,
Anton A. Raven,
Percy A. Rockefeller.
Henry B. Stokes.
At a meeting of the Board of Directors held on
Thursday, January 13th, 1910, the following
officers were unanimously re-elected: Gates W.
McGarrah, President: Alexander E. Orr, First
Vice-President; Nicholas F. Palmer, Second VicePresident; Andrew A. Knowles, Third Vice-
President.
FRANK O. ROE, Cashier.
The Chatham National Bank
NEW YORK
January llth, 1910.
At the Annual Meeting of shareholders of The
Chatham National Bank held this day, at its
banking house. No. 192 Broadway, the followingnamed
gentlemen were unanimously elected
directors for the ensuing year:
George M. Hard
Frank R. Lawrence
Daniel J. Carroll
William B. Conrad
Lewis Coon
O. G. Fessenden
Frank J. Heaney
William A. Law
Charles C. Lloyd
Robt.Hamilton Rucker
Sanford H. Steele
Henry F. Shoemaker
August Heckscher
John D. Vermeule
C. H. Imhoff' * '
Samuel Weil
Franklin S. Jerome
Joseph H. Wright
At the first meeting of the new board January
14th, 1910, Mr. George M. Hard was elected
President, Mr. Frank J. Heaney and Mr. Charles
Vice-Presidents, all unanimously.
Mr. W. H. Strain was appointed Cashier and Mr.
Henry L. Cadmus, 3 Assistant Cashier.
W. H. STRAWN, Casiher.
Fourteenth Street Bank
,
5TH AVENUE & 14TH ST.
,
J
l "'/)
Niuf Yotk, January J2th, lflilO.*;
At the ahnual meeting of the stockholders of
this Bank, held January llth, 1910, the followingnamed
gentlemen were unanimously elected
Directors lbr the ensuing year: ? - 1
R. Ross
Max Market
Michael Blake,
P. Maxwell Sayford
Richard I. Brewster
Frank Seaman
John F. Carroll
Thomas P. Spencer
Frank N. Doubleday
Albert Turner
Louis V. Ennis
George F. Vail
Herman Heidelberg
William E. Wheelock
Edward B. Jordan
At the first meeting of the new Board, held this
,
day, Mr. R. Ross Appleton was re-elected Presi¬
dent, and Messrs. John F. Carroll, Richard I.
Brewster and P. Maxwell Sayford were re-elected
Vice-Presidents.
LOUIS V.
Vice-Presidents.
W. B. NOBLE, Cashier.
:*
-
MERCHANTS’
NATIONAL
J
were
unanimously re-elected
FRANCIS HALPIN, Cashier.
07
J. Rogers Maxwell,
Charles H. Warren,
D. G. Reid,
Frederick G. Bourne,
E. C. Converse,
Ambrose Monell,
Francis L. Hine,
Frederick B. Schenck,
T. A: Gillespie,
Zoheth S* Freeman.
At a meeting of the Directors held this day,
Frederick B. Schenck was unanimously re-elected
President and Messrs. Daniel G. Reid, Zoheth S.
Freeman and Charles W. Reicks were re-elected
Vice-Presidents.
CHARLES W. RIECKS, Cashier.
Morgan J. O’Brien,
January 12th, 1910.
,
fH
180 3
York, January 13th, 1910.
the annual meeting of the stockholders,
on the 11th Inst., tne
following gentlemen
were duly elected Directors for the
ensuing year:
Geo. F. Baker,
Charles H. Stout,
Arthur F. Luke,
Charles A. Moore,
William H.
OF NEW YORK
.
New
At
held
following-named gentlemen were elected Directors
for the ensuing year:
James McCutcheon,
Charles T. Wills,
Ruel W. Poor, ‘
Samuel Adams,
The Chemical National Bank
m
OF NEW YORK
At the
of this bank,
Directors held this day,
!
BANK
New York, January
annual meeting of the
ELIJAH P. SMITH
JAMES STILLMAN
ISADOR STRAUS
JAMES N. WALLACE
JAMES T. WOODWARD
WILLIAM WOODWARD
J?™.es T. Woodward
NATIONAL
LIBERTY
8-r. s)3ju:.»©« c
Mm
BROADWAY2&S23RD STREET
unanimously re¬
elected President and Messrs. James
M. Donald,
E.
Hayward Ferry, William Woodward
and
Henry R. Carse were unanimously re-elected
VicePresidents.
ELMER E. WHITTAKER, Cashier.
,•
.&
THE
P
WILLIAM ROCKEFELLER
meeting of the
LXXXX.
New York
ENNIS, Cashier.
*
County National Bank
OF NEW YORK
January llth, 1910.
At. the annual meeting of the stockholders
of the New York County National Bank, held
this day at its banking house, 79 Eelghth
Avenue,
the following were unanimously elected Directors
for the ensuing yoat:
*
New York, January 13, 1910.
At the Annual Meeting of Stockholders for
the
election of Directors, held on January
William Carpender
ll, 1910,
the following gentlemen were
Christian F. Tietjen
unanimously
re¬
Francis L. Leland
elected to serve for the ensuing year:
David Froehlich
J. Samuel Smoot
Samuel G. Bayne,
Pedro R. de Florez
Herbert H. Hewitt,
George
Kern
Ed. C. Striffler
Jesse L. Straus
Edward C. Bodmaa,
Stuart G. Nelson,
Wm. B. Krug
Frank Williams
James C. Brower
Joseph Seep,
Frederick H. Eaton,
William West Shaw
O.
H.
Bartine
and as Inspectors of Election—Albert G.
Lucius A. Cole%,
Charles Lathrop Pack,
Acker¬
A. E. Stilger
man and Myron H. Dyckman.
T. Wtetar Brown,
•
John F. Archbold,
„4
At the first meeting of the new board, held
this
At
the
first
Charles 9. Thompson..
meeting of the new board Mr.
day, Mr. Irving M. Shaw was re-elected President, Francis
L.
Leland
At a meeting of the Board of Directors held Mr. A. E.
was elected President,
Mr.
Stilger was re-elected Vice-President ! Christian F, Tietjen,
thU9L.day, Messrs. Samuel G. Bayne and Stuart and Cashier, Mr. William
Vloe-President, and Mr.
B. Krug was elected James C. Brower,
were unanimously re-elected Presi¬
Vice-President
and
Cashier, all
Vice-President and Mr. David Froehlich was reunanimously. Mr. Lawrence J. Grlnnon was
dent and Vice-President, respectively.
elected Vice-President.!
appointed
Assistant
Cashier.
C. O. THOMPSON, Cashier.
_
A. E. STILGER, Cashier.
JAMES C. BROWER, Cashier.
i #.
Jan. 15
IT
THE CHRONICLE
1910.]
’factions.
IjSaitfe, Statements.
m m m **aaaaaaaAAAAA<W^^i%W^VWAAAAAA^^A
u
THE
LINCOLN NATIONAL BANK
CITY OF
OF THE
T^
w
^
FORTIETH ANNUAL STATEMENT
January 11th, ,1910.
the annual meeting of the shareholders
of The Linclon National Bank, held this day at
its Banking House, 32-42 East 42d Street, the
following gentlemen were unanimously elected
Directors for the ensuing year: ,
,
?
At
OF-—
,
.
Thomas L. James,
William G. Rockefeller,
HatthewC. D. Borden, Eben E. Olcott,Joseph P. Grace,
M. Hartley Dodge,
Wm. Brewster,
Harry J. Luce,
„•
*r,
>
«
7
OF CANADA
W. K« Vanderbilt Jr.,
Charles C. Clarke,
E. V. W. Rosslter,
James Stillman,
Henry C. Phipps.
,
LIABILITIES
{
..At the first meeting of the new Board, held
January 13th, 1910, Gen. Thomas L. James was
elected President, and Messrs. E. V. W. Rosslter
W. A. Simonson, and Chas. Elliot Warren were
elected Vice-Presidents, all unanimously.
Mr.
David C. Grant was appointed Cashier, and
Messrs.
John S. Sammls Jr.! ,and
Henry E.
Stubing were appointed Assistant Cashiers.
DAVID C. GRANT, Cashier.
V. /-
American
Exchange National Bank
OF NEW YORK
New York,
January 11th, 1910.
Dec. 31 1908.
To the Public
Interest accrued
Deposits
on
Total Deposits.—.
f
——.jii.
hmii*
gentlemen
Notes of the Bank in Circulation
duly elected Directors for the
were
« "I
W. BAYARD CUTTING,
JOHN T. TERRY,
J. ROGERS MAXWELL,
JOHN CLAFLIN,
WILLIAM P. DIXON,
LEVI C. WEIR,
SAMUEL REA,
WILLIAM L. BULL,
CLARENCE H. MACKAY,
EDWIN HAWLEY,
PLINY FISK,
year:
*
.
,
•
......
-
..$37,576,544 20
$50,822,129 31
3,556,432 65
4,679,67$ $6
1
...
.
—....
—**
Capital Paid-up
Independence Trust Company
—
.
—.
(quarterly at
Dividend No. 89
WILLIAM L. NEVIN,
JOHN J- COLLIER,
J. ERNEST RIGHARDS,
on
..
=
elected:
.
Charles B. Dunn, President.
Rodman Wanamaker, Vice-President.
J. Ernest Richards, Second Vice-President.
John J. Collier, Secretary and Treasurer.
JOHN J. COLLIER,
.
Joseph Di Giorgio,
Robert Ddwlittg,
Abram I. Elkus,
E. A. Fisher,
r
of
Bryant Park Bank
New
ST*. N. Y.
York, January 12, 1910.
At the Annual Meting of stockholders for the
election of directors, held Tuesday, January 11th,
1910/ the following gentlemen were unanimously
re-elected to serve for the ensuing year:
Edward As Worth,
Jacob Mattern,
Henry L. Cohen,
Mortimer Regensburg,
Benjamin F. Terwilligar,
Eugene E. Hinkle,
W. W. Warner,
Jacob Loewer,
Jules WebeT, >
;
Winfield S. Weser. v !
At a meeting of the Board of, Directors, held
this day, W. W. Warner was re-elected President
and Edward Ashforth and Jules Weber, Vloe-
John F. Doherty,
,
Presldents.
>«,.
E. F.
GIRSE, Cashier.
The Gallatin National Bank
Y
,190,000 00
200,W00
3,746,967 84
49,568 28
:—.^.....
Notes of and Cheques on other Bants
Balances due from other Banks in Canada.
2,985,741 48
36,289 51
372,958 60
Balances due from Agents in Great Britain.
Balances due from Agencies in Foreign
Countries
5*0* <
Hants in
Loans to other
OF THE CITY OF NEW YORK.
;
f New York, January 12, 1910.
Si
6,831,437 93
9,638,309 82
$21,944,440 19
$31,406,621 13
496,248 15
$371,921 44
107,656 95
157,95117
33,644,705 16
...
26,736,164 99
34,776 28
Bank Premises
•}
4,501,489 26
3,286,141 29
Canada
Provincial Governments
Current Loans and Discounts
Overdue Debts (Loss Provided for)
Loans to
fi
896,667 36
2,693,101 20
753,327 69
1,633,129 20
....
.1,150,924 39
25,657 09
1,444,246 69
'
Frank Schaffer,
122 WEST 42D
,347 62
$3,
4,993,532 25
Deposit with Government for Security of
Harry J. Schnell,
George V. Hagerty,
Erskine Hewitt,
Royall Victor,
THOMAS J. LEWIS, Cashier.
The
$3,221,717 14
3,760,344 35
Call and Short Loans on Stocks and Bonds.
Thomas J. Lewis,
James G* Newcomb,
Ludwig Nissen,
J. H; Parker,
A. M. Probst,
.
$67,051,102 62
Municipal Securities
Railway and other Bonds, Debentures and
.—-..I—..——
{^Stocks
this Bank, held this day, the following-named
gentlemen were unanimously elected Directors:
William O. Allison,
Phoenix Ingraham,
Charles K. Beekman,
R. W. Jones Jr.,
Samuel Bettle,
E. R. Chapman,
$50,470,210 95
.
OF KEW YORK
New York, January 11th, 1910
At the annual meeting of the stockholders
340 08
140,000 00
228,393 9 4
_
Government and
THE
NATIONAL RESERVE BANK
;
100,000 00
78,685 26
due
——
Secretary.
,
ASSETS
.....
Gold and Silver Coin -„i
Dominion Government Notes
Note Circulation
CHRISTIAN C. FEBIGER,
JAMES DOBSON.
At the meeting of the Board of Directors, held
this day ,for organization, the following officials
123,657 73
230 00
Bills Discounted, not yet
Balance of Profits carried forward
Rebate
$5,000,000 00
6,700,600 00
10 per cent).
Former Dividends
Philadelphia, January 12, 1910.
At the amnia! meeting of the stockholders
of .this company, held on the 10th instant, the
following directors were elected to serve for
the ensuing year:
CHARLES B. DUNN,
RODMAN WANAMAKER,
W. FREDERICK SNYDER,
ROBHRT M. COYLE,
LOUIS S. FISKE,
■
87
$55,
3,900,000 00
4,600,000 00
97,500 00
—
—-
^
(quarterly at 10 per cent).
Reserve Fund
-
,
215,724 26
660,818 84
$41,693,795 69
: At
a subsequent meeting of the Board Mr.
Lewis L. Clarke was elected President, Mr.
Edward Burns was elected Vice-President and
Mr. Walter H. Bennett, Cashier.
EDWARD BURNS, Vice-President.
were
16,955,930 07
To the Shareholders:
Dividend No. 85
*
$33,466,828 86
64,863 16
344,607 23
Balances due to Agents in Great Britain—
Balances due to Ag’.ts in Foreign Countries.
EDWARD BURNS,
LEWIS L. CLARKE.
BASIL W. ROWE.
JOHN C. LOWRY,
66
60
33
$50,470,210 95 $67,051,102 62
,
PROFIT AND LOSS ACCOUNT
By. Net Profits lor the Tear, after deducting
Charges of Management, Accrued Interest on
Deposits, full provision for all tad and doubtful
debts, and rebate of interest on unmatured bills. $838,306 51
Balance of Profit and Loss Account, Decem¬
ber 31, 1908............ 1.....
Appropriated
78,685 26 $916,991 77
...
follows:
as
To Dividend (10 percent)
Transferred to Officers’ Pension Fund
...
Written off Bank Premises Account
Balance of Profit and Loss carried forward
463,697 83
25,000 00
200,000 00
228,393 94 $916,991 77
Average Paid-up Capital during 1909, $4,636,000
At the annual meeting of the Stockholders of
the Bank, held January 11, 1910, the followingnamed gentlemen were unanimously re-elected
Directors:;
Charles A. Peabody,
Adrian Iselln Jr., i
-
Samuel Woolverton,
Alexander H. Stevens, Chailes H. Tweed,
Thomas Denny.
W. Emlen Roosevelt,
At a meeting of the Board of Directors held this
4ay/ Mr. Samuel Woolverton was re-elected
VicePresident and Mr. Adrian
Iselln Jr.
|
Frederic W. Stevens/.
President.
.
61
...*.
Deposits by other Banks in Canada
At the Annual Meeting of the Stockholders of
this Bank, held this day, the following-named
ensuing
$24,300,726
13,090,664
62,160
133,102
rest.
Deposits bearing *
Deposits not bearing Interest—..
Dec. 31 1909
GEORGE >. LEWIS, Cashier.
Head Office: MONTREAL
/.i‘*
*
;
.
'
*
,
”
*
i
y
.
Dec. 31 st, 1909.
■
EDS0N L. PEASE.
_
.
General Manager.
NEW YORK AGENCY, 68 William St.
ITI
THE CHRONICLE
[VOL.
giixaiteiai.
CHARTERED
jgittamcial.
1864
THIRD AVENUE
Railroad Company
UNION
TRUST
COMPANY
OF NEW YORK
HOLDERS OF CERTIFICATES OF DE¬
POSIT ISSUED BY THE CENTRAL TRUST
COMPANY OF NEW YORK AS DEPOSI¬
TARY
UNDER THE BONDHOLDERS’
AGREEMENT, DATED NOVEMBER 6 1607,
FOR FOUR PER CENT FIRST CONSOLI¬
DATED MORTOAOE HUN DRED-YE AR
QOLD BONDS OF THE THIRD AVENUE
RAILROAD COMPANY.
NOTICE IS HEREBY GIVEN to the DE¬
POSITING BONDHOLDERS and HOLDERS
OF CERTIFICATES OF DEPOSIT ISSUED by
the CENTRAL TRUST COMPANY OF NEW
YORK AS DEPOSITARY, under the Bond¬
holders’ Agreement dated November 6 1907,
between holders of the above-mentioned Four
Per Cent First Consolidated Mortgage Hundred-
Branch 425 Fifth Avenue, Corner 38th Street
Statement of Condition January let, 1910
Resources.
Y. State, City and’Railroad
Bonds, &c.. at Market Value.
9804175 00 Bonds and Mortgages.
1,900,000 00 Real Estate.
48.060,086 20 Loans on Collateral.
8,041,871 25 U. S. Gold Certificates.
87,507 25 Cash in Office.
2,488,048 27 Cash in Banks.
868,881 51 Interest and Commissions Accrued
■
17,669 22 Advanoes to Trusts.
Liabilities.
$11,788,111 98 N.
Capital Stock
61,000,000 00
Surplus
Deposits
8.165.868 86
61.485.010 59
794.829 54
-
Interest accrued on Deposits
Taxes and Expenses Accrued
Other Liabilities
54,124 00
8.022 69
Dividend due Jan. 10, 1910
Year Gold Bonds of The Third Avenue Railroad
as parties of the first part, and James
N. Wallace and others, Committee, as
parties of
the second part, that pursuant to the terms and
125,000 00
$71,627,850 68
Company,
provisions of said Bondholders’ Agreement the
undersigned Committee has prepared and adopted
a Plan and Agreement of
Reorganization dated
December 2 1909, and has lodged a copy thereof
with the Central Trust Company
of New York
as Depositary.
$71,627,850 68
TRUSTEES
Walter P. Bliss,
Amory S. Car hart,
Amos F. Eno,
Frederic de P. Foster,
Harrison E. Gawtry,
Robert Walton Goelet,
Adrian Iselin Jr.,
Augustus W. Kelley,
If
William Woodward.
REORGANIZATION
TO
80 BROADWAY
£
LXXXX
H. Van Rensselaer
Kennedy.
James Gore King,
W. Emlen Roosevelt,
N. Parker Shortridge,
James Speyer,
John V. B. Thayer,
Charles H. Tweed,
James T. Woodward,
As provided In said Bondholders’
Agreement
of November 6 1907, to which reference Is
hereby
made, holders of certificates of deposit of the
Central Trust Company as Depositary may assent
to said Plan and Agreement of
Reorganization
either by filing with said Depositary their written
thereto, specifying the date and number
of the certificates held by them, or
by failing,
within thirty days after the completion of the
pub¬
lication of this notice, to file with the
Depositary
written notice of dissent from said Plan and
Agree¬
assent
OFFICERS
Augustus W. Kelley, Vice-President.
John V. B. Thayer, Vice Pres. & Secretary,
Edward R. Merritt, Vice-President.
Carroll C. Rawlings. Trust Officer
Hudson Trust
Henry M. Popham, |
T. W.
Hartshorae,
Henry M. Myrick,
Company
BIRO 8.COLER
Broadway and 39th St., N. 7.
-
ment, specifying the date and number of the cer¬
tificates held by them.
Such dissent must be
filed on or prior to February 28 1910 with the De
poeltary at its office, No. 54 Wall Street, New
York City.
Said Plan and Agreement of
Reorganization
will become effective and binding upon
all Cer¬
tificate Holders and will be finally and
conclusively
deemed to have been assented to by all Certificate
Holders unless within thirty days after January 29
1910, the latter being the date of the completion
of the publication aforesaid, one third In amount
LEONARD H. HOLE
BANKERS
RESOURCES.
*849,050
165.515
124.199
765.530
Secretaries,
W. N. COLER & CO..
Contented Statement December Z\tt, 1909.
Bonds of City and State of New York
(market value)
Sundry stocks and bonds (market value).
N. Y. City Realty Mortgages
Demand loans
Time loans and bills purchased
Real estate
Furniture and fixtures
Accrued Interest receivable
Gash on hand and due from banks
[Asst.
J
43 CEDAR ST.. NEW YORK.
00
00
42
investments.
15
1,924.701 22
6.000 00
of the Certificate Holders shall file with the De¬
of their dissent from said
Plan and Agreement of
Reorganization, the notioe
of dissent filed by each Certificate Holder
positary written notice
fpUjetittgs.
12,000 00
15.146 06
954,371 80
specify¬
ing the date and number of the Certificates held
by him.
Office of
BROOKLYN RAPID TRANSIT COMPANY.
City of New York, Borough of Brooklyn,
LIABILITIES.
Printed copies of said Plan and Agreement
of
January 7th, 1910.
meeting of Stockholders of the
Brooklyn
Rapid
Transit
Company for the election
Undivided profits
of four (4) directors to serve
three (5) years, and
Reserved for taxes
92
one (1) director to serve
two (2) years, and one (1)
Interest accrued, payable
94 director to serve one (1)
year; and of three
Dividends unpaid
(3)
15,144 00 Inspectors of election to serve at
the next suc¬
Deposits
3,587.939 96 ceeding annual meeting, and for the
purpose ol
transacting such other business as may be duly
$4,816,513 65 brought before the meeting, will be
held at 12
ELVERTON R. CHAPMAN. President
o'clock noon on Friday,
January 28th, 1910, at
the office of the
LOUIS H. HOLLOWAY. Vice-President
company, 85 Clinton
Borough of Brooklyn, New York City.Street,
HENRY C. STRAHMANN. Vice-President
The
Polls will remain open for one hour.
The transfer
JOHN GERKEN, Vice-President
books will be closed at 3
p. m. on Tuesday, Jan¬
uary 11th, 1910, and will remain closed until
HENRY G. LEWIS. Treasurer
10 a. m. on the
day
RICHARD A. PURDY. Secretary
immediately succedlng the
final adjournment of said
Stockholders' meeting.
Capital
Surplus
$500,000
600,000
94.440
5.450
13,537
oo
00
83
The
Reorganization may he obtained by Certificate
Holders on application to the Depositary at its
annual
office, No. 54 Wall Street, New York.
Dated New York, January 13 1910.
JAMES N. WALLACE,
ADRIAN ISELIN.
EDMUND D. RANDOLPH.
MORTIMER L. SCHIFF.
JAMES TIMPSON,
HARRY BRONNER.
Bondholders’ Committee.
C. D. MENEELY, Secretary.
OFFICE OF THE UNITED HAS IMPRO YEMENI
Company, N.
The
audit Comp anof New York.
MThe Oldest and Foremost**
Home Office
City Investing Building
I6S
Brotdwiy
Brtnchtt—Chicago, Philadelphia, Boston
Pittsburgh, Atlanta
Phflftdp.InhU. TWmv
Q
1 QrtO
PACIFIC HAS & ELECTRIC COMPANY
—
of
—
—
Broad
and
Company,
Arch
streets,
Wednesday. February 9,1910,
for the
w
Philadelphia.
at 12 o’clock noon
purpose of acting upon the subject of i
proposed increase in the authorised capital stool
of the Company from
1,009,467 shares, of tb
par value of $50 each, to
1.110,414 shares, of th
par value of $50 each.
By order of the Board of Directors.
w.
DOUTHIRT, Secretary.
The stock transfer
books will be dosed non
S p. m.,
January 28 1910, until 10 a. m.. Feb
ruary 10 1910.
mv
F.
_
PEOPLES GAS LIGHT & COKE
COMPANY
(of Chicago).
The Annual Meeting of the
Stockholders of Thi
Peoples Gas Light & Coke Company will be helc
at the office of the
Company
In
Chicago, Adami
Street and Michigan
Avenue, on Thursday mom
Ing’ February iO, 1910, at 11 o’clock.
The trans
CONFIDENTIAL AUDITS, INVEST)
GATIONS AND ENGINEER¬
ING APPRAISALS
fer books will close in
accordance with the by
taws, at the close of business on
THE REPORTING OF INDISPUTABLE January
Thursday
20,1910, and will reopen Friday
morning
FACTS
Holices.
W. cor. Broad and Arch Sts.
February 11,1910,
Notice is hereby given that a meeting of the
Board of Directors of this Company has been called
for three o'clock P. M. on January 31st,
1910, for
the purpose of declaring a dividend of One and
50-100 Dollars ($1 50) per share upon the Pre¬
ferred Capital Stock of this company for the period
beginning November 1st, 1909, and ending Janu¬
ary 31st, 1910, payable by check on the 15th
day
of February, 1910, to the stockholders of record
at three o’clock P. M. on the 31st
day of January,
1910.
Owners of such preferred stock,
evldencep
by certificates Issued in the name of any other
should have the same transferred on the
person,
books of the company, and new certificates issued
in their own names on or before three o’clock P. M.
of
at 10 o’clock.
GEORGE O. KNAPP, President.
January 31st, 1910, if they desire dividend
checks made payable to themselves.
.
D, H. FOOTE,
Secretary of the Pacific Gas & Electric Co.
San Francisco, Cal., January 3, 1910.
Jan. 15
1910.]
THE CHRONICLE
fgtuattjclal.
fgiuattjctal.
THIRD AVENUE
CHARTERED IN 1830.
Railroad Company
NEW YORK LIFE INS. & TRUST CO.
REORGANIZATION
02 WALL
Notice to
Non-Depositing
Accepts Trusts created by will or otherwise. Manages
Agent for the owners. Allows interest on deposites payable
after ten day’s notice.
Legal Depository for Executors,
Tlustoes and Money in Suit.
Property
TO
HOLDERS OF THE FOUR PER CENT
FIRST CONSOLIDATED MORTGAGE HUN¬
DRED-YEAR QOLD BONDS OF THE THIRD
AVENUE RAILROAD COMPANY ISSUED
UNDER ITS MORTOAOE DATED MAY 15,
1900.
NOTICE IS HEREBY GIVEN to the holders
of the above-mentioned Four Per Cent First
Consolidated Mortgage Hundred-Year Gold Bonds
of The Third Avenue Railroad Company Issued
mortgage dated
May 15, 1900, that
pursuant to a Bondholders’ Agreement, dated
November 6, 1907, entered Into between certain
holders of said bonds, as parties of the first
part, and James N. Wallace and others. Com¬
mittee, as parties of the second part, to which
Bondholders' Agreement reference Is made for
all Its terms and provisions, a Plan and Agree¬
ment of Reorganization,
dated December 2,
1909, has been duly prepared and adopted and
a
copy thereof duly lodged with the Central
Trust Company of New York as Depositary.
Printed copies of such Bondholders’ Agreement
and of said Plan and Agreement of Reorganiza¬
tion may be obtained at the office of said De¬
positary, No. 54 Wall Street, New York.
Holders
solidated
of
said
Four
Per
Cent
First
Con¬
Hundred-Year Gold Bonds
Railroad Company who
have not yet deposited their bonds under the
aforesaid Bondholders’ Agreement of November
6, 1907, are hereby notified that they may
without penalty
become parties to the said
Bondholders’ Agreement of November 6, 1907,
and entitled to avail of the benefit of said Plan
and Agreement of Reorganization, by deposit¬
ing their bonds with the coupon of January 1,
1908, and all subsequent coupons accompanying
the same, with the Central Trust Company
of New York, as Depositary, as aforesaid, on
or before February 18, 1910, and such deposit
shall be deemed equivalent to the filing of written
assent to said Plan and Agreement of Reorganiza¬
tion.
Bonds so deposited will thereafter be
held by the Depositary for account of the Com¬
mittee, subject to the terms and provisions
of said Bondholders' Agreement of November 6,
1907, and said Plan and Agreement of Reorganiza¬
tion, as fully to all intents and purposes as If
heretofore deposited.
Dated New York, January 13, 1910.
of
The
Mortgage
Third
as
ACCEPTS ONLY PRIVATE TRUSTS AND DECLINES AM. CORPORATION
OR OTHER PUBLIC TRUSTS.
STATEMENT
Showing its condition
RESOURCES.
$2,069,280 00). market value.. 2,006,527 50
_
Other
securities (book value
$10,000,599 75). market value.10,983.566
Loans
19,912,841
Overdrafts, secured
44^357
estate
2,545,028
Due from trust companies, banks •
and bankers
1,718,997
Specie and U. S. legal tenders
Repairs 52 Wall Street
Suspense account
and
Business
5,400,000
144,401
117,164
362,020
69
81
44
89
Including
all
undivided
HENRY
$1,000,000 00
4.181.800 43
^75*-
IN TRUST
DEPOSITES
37.795.781
18.000
382,120
123,850
2.151.585
444,630
2,580
Reserved for taxes
Life Insurance
....
Accrued interest
Annuities
General account of interest..
Contingent account
...
..
17
00
20
37
23
01
00
72
05
89
26
68
$46,100,349 04
PARISH, President.
WALTER KERR, 1st Vice-President.
HENRY PARISH JR.. 2d Vice-President.
ZEGER W.
van
ZELM. Ass't Secretary.
IRVING L. ROE. Ass't Secretary.
J. LOUIS van ZELM. Ass't Secretary.
S. M. B
HOPKINS. 2d Vice President.
GEORGE M. CORNING. Secretary.
JOHN O. VEDDER. Ass't
Secretary.
TRUSTEES.
Charles Q. Thompson.
Henry Parish.
Frederic W. Stevens.
C. 0*D. Iseiin,
W. Emlen Roosevelt,
H. Van Rensselaer Kennedy,
John Jacob Astor,
Stuyvesant Fish.
Edmund L. Bay lies.
Joseph H. Choate.
Samuel Thorne.
John L. Cadwalader,
Augustus D. Juilliard.
Henry Lewis Morris,
Oeorge S. Bowdoin.
Henry C. Hulbert.
Henry A. C. Taylor.
Oeorge G. De Witt.
Cornelius Vanderbilt,
John McL. Nash,
John Claflin,
Cleveland H. Dodge.
Thomas Denny.
Lincoln Cromwell.
Paul Tuckerman.
MELLON NATIONAL BANK
PITTSBURGH
Offers
ive terms
trust
A. W.
perfect service
to
on very attracother banks, bankers and
companies.
MELLON, Prest.
W. S. MITCHELL, Cashier
INVESTED CAPITAL
$6,800,000
'
Man
VKxnteH.
Combination Will Be
YOUNG AMERICAN WITH EXTENSIVE
EUROPEAN TRAINING AND EXCELLENT
EUROPEAN
CONNECTIONS,
DESIRES
POSITION AS MANAGER FOREIGN DE¬
PARTMENT OF
NEW
YORK
STOCK
EXCHANGE HOUSE. ADDRESS ”S. I. Q .”
CARE COMMERCIAL AND FINANCIAL
CHRONICLE. P. O. BOX 958. N. Y. CITY.
Specially Valuable.
ABLE LAWYER, age 42, ambitious, energetic*
resourceful, and adaptable, now counsel for bank
and In general practice, previously in business,
broad experience In both fields, wants to devote
all his time to one corporation or large financial
or commercial concern, where the two kinds of
knowledge and experience would produoe results
impossible to either alone. Broad education,
including French and German: highest credentials
as tojcharacter, ability, and social and professional
standing. Address **F. H. R.M care of Financial
Chronicle P. O. Box 958, New York.
B. EDWARDS
BROKER AND COMMERCIAL AGENT
Negotiations, Investigations, Reports,f
United States, Canada, or Foreign
Tribune Building, 154 Nassau Street,
Telephone 4218 Beekman,
NEW YORK. N. Y.
glwMettAs.
WANTED
good prices for complete list of
We will pay
stockholders of first-class gas and electric light,
power, railway, telephone and industrial corpo¬
rations located in Central and Western United
States and Canada.
Replies held confidential.
R. H. G00DELL & CO.
122 Monroe St..
surplus.
v
.....
Seeks Connection Where
GEO
LIABILITIES.
Or, jitai stoc
$46,100 349 04
ADRIAN I SELIN.
EDMUND D. RANDOLPH.
MORTIMER L. SCHIFF,
—
Accrued Interest
Avenue
JAMES TIMPSON,
HARRY BRONNER.
Bondholders’ Committee.
the morning of the first day of January, 1910
on
Bond* and mortgages
--—$2,865,443 74
Stock and bond investments, viz.:
Public securities (book value
JAMES N. WALLACE,
Lawyer
ST., NEW YORK.
Grants Annuities.
Bondholders
under Its
xyii
Canadian gentleman of Education, several
years’ experience in the Banking business and
highly recommended, a position as Canadian
representative of a .large, American Banking
which
house
would
underwrite
high-grade
Canadian investments. Markets for sriling and
a
connections
care
Engineers—Contractors,
43-49 Exchange Place,
New York, N. Y.
The regular quarterly dividend (27th quarter)
of One and One-Half Per Cent has been declared
on the Preferred Stock of this Company, payable
February 1, 1910, to stockholders of record Jan¬
uary 22,1910
H. S.
.assured.
Answer ’‘FINANCIER.”
Chronicle, P. O. Box 958, New YorkJnMn
COLLETTE, Secretary.
THE H. B. CLAFLIN COMPANY.
Church & Worth Streets, N. Y., Jan.
10,1910
A regular quarterly dividend of One and OneQuarter (1)4%) Per Cent on the First Preferred
Stock and One and One-Half (1Ji%) Per Cent on
the Second Preferred Stock wPl be paid Febru¬
ary 1st, 1910, to holders of the Preferred Stocks
of this Company of record Friday, January 21st.
D. N. FORCE. Treasurer.
CHICAGO
WANTED.
By
J. G. WHITE & COMPANY. Incorporated.
FEDERAL SUGAR REFINING CO.
January 11, 1910.
regular quarterly dividend of One an
One-Half Per Gent (1H%) on the Preferred
Shares of the Federal Sugar Refining Company
will be paid on January 81. 1910, to stockholders
of record as they appear at the doee of business on
January 28, 1910. The Transfer Books will not
a
The
be closed.
i
A. H. PLATT, Asst. Treasurer,
i
xym
THE CHRONICLE
K;,;
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LXXXX.
rttl 'J—crtrTt-
I.Tarif
§
$ i:-
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[VOL.
—i.
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OF
VIV.Relativ .Litgaon
,
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•>
;ri?- ir
REPORT OF THE BOARD OF DIREC- t on is less than at times in the company’s per pound. This fraction includes not
only the
»C<T!
A1 :
history, due to the consolidation of some; cost of
but the losses involved in the
TORS OF THE AMERICAS SUGAR refining plants, yet the increased capacity ofi refining refining,
process, and in transportation, the
our Other ' refineries has caused a substantial; wear and tear and
depreciation on the expensive
REFINING COMPANY TO. THE increase in the actual capacity of your cane! machinery used, the
cost of the packages in
refineries.
This increased capacity, however, which .the sugar
is delivered to the market,
STOCKHOLDERS. cannot at present be fulljtutilized,' as the total tqid, finally, tne refiner’s profits. Few, if
any,
capacity of all the refineries of the United necessaries of life are sold at such a slight margin
MV .W v.
•
,,
States is much in excess-ofrconsumption.
The of profit and few can show, with increased cost
consumption for the year 1909 shows Approxi¬ of materials and labor during the,last decade,
mately an increase of 2.25%; over the previous; a reduced price. This is a striking illustration
year.
The meltings of the American ,?$ugax of the truth, to which public attention has re¬
Refining Company show an approximate in¬ cently* been forcefully directed, that the em¬
crease of 1.17% over 1908. i-h-wow.. w A ui
ployment of- large capital in the economical
Of the 84 factories Which produce sugar from production..of
a commodity often results in a
beets, with an - estimated aggregate ? daily distinct benefit to the consumer.„•
capacity of 47,700 tons of beets and 4 period
The figures appended have been compiled
of operation of from 75 to 1Q0 days each
year,; from ’ Willett’ & Gray’s Weekly Statistical
your company is interested in 33 factories, with! Trade Journal, and give in detail the
average
a daily slicing
capacity of about 26,500 tons, prices of raw sugar and of granulated sugar
and has no interest in 31 factories^:
m
New York for the past ten years, in cents
1
per pound, together with the difference in
price Detween raw attd refined sugar.’
Duties on Sugar.
The Directors herewith submit their report
forotbe year 1909. While the assets and busi¬
ness of
your company are the property of its
stockholders yet your Directors recognize the
legitimate interestlwhich the public has in a
businesll organization which deals to a large exteqt itt/a necessity of life. A further motive
for this report is found Ip the fact that it seems
to he the only method by which this company
Can correct the wide-spread
misrepresentation
and unjust criticism to which it has been sub¬
jected. A business corporation can have no
asset more valuable than the good-will of the
public, and that good-will can best be gained by
explaining to the public the nature of any exist¬
ing misapprehension as to its character and
operations, w**
„
There also exists a widespread belief, which,
a mistaken one, that the refining of
Raw 96
Re¬
sugar derives a large and excessive benefit from
I. Ownership of Company.
Year.
Deg. Aver¬
fined Aver¬ Differ¬ Aver¬
protective duties.
Polar¬ age.
Granu¬ age.
ence.
age.
It is commonly supposed that'the shares of
All the raw and refined sugar
ization
lated.
imported
I
vour company are owned
into
the United States from foreign countries
by a comparatively
few residents of New York City.* The fact is is subject to duty. In this manner the Gov-.;
Cents.
Cents.
1900
4.566
that the average holding of stock
5.320
.754
by any in¬ ernment derives a very large revenue, and inci¬ 1901
4.047
dividual is less than fifty shares. The ma¬ dentally the domestic cane and beet
5.050
1.003
industry, 1902
* 4.847
3.542
3.969
4.455
.913
.878
jority of the stock of your company is held in is benefited. This Company alone has
paid; 1903
3.720
4.638
.918
New England, and its value and
to the Government in duties on
importations 1904
stability
as
3.974.
.798J
an investment is best
4.772,
evidenced by the fact in fourteen years the large sum of $335,000,000.:
that your shares are
largely held by executors, ■A Inasmuch, however, as the relative duty on 1903
4.278
5.256
.978]
administrators, trustees and other fiduciaries. raw and refined sugar is so adjusted as to leave 1906..... 3.686
4.515
.829 r
Its stable value as an investment is also at¬ to the refiner a margin of
3.756
3.960 4.649
4.828
.893
protection of only 1907
.868
tested by the fact that there have been no seven and one-half cents per 100
4.073
4.957
.884
pounds of 1908
substantial changes i n the stockholders for .a refined sugar, or, barely more than 1-16 cent 1909
4.007
4.765
•758j
very long period.
The number of our stock¬ per pound, it is evident that contrary to the
holders of common and preferred
stock is
18,484.
’
*
rening'industry is exceedingly small. v
*‘v
In view of the preponderant
The duty paid on raw sugar imported into:
For purposes of
holding of Stock
comparison, the years cov¬
by New England shareholders, you will be this country is substantially refunded by the ered have
been divided into two periods of five
asked to increase the Board -of Directors
Government
on
any
equivalent
years
each,
and
average prices calculated for
by
quantity of
two members, and for these
positions the names refined sugar produced therefrom which is ex-? each of .these periods. ,, ,*,
The difference in the margin between raw and
ported. A misunderstanding in regard to this
has given rise to unfavorable'
criticism, 4s the reflned sugars, as shown above, has been thus
known in business circles, will be submitted for company
appears to sell sugar for export at a slightly less, ortaverage, during the past five
vour Approval.
Another vacancy in the Board price lower than thajt charged the domestic con¬ years than during the previous
corresponding
has been created by the
declination: of Mr. sumer. \ This is not the ease, is; The company
Charles H. Senff to serve another
receives
American
substantially the same price for its
and to
Sugar Refining Company has
fill his place a number of influential term,
or
at home. no agreement; direct or implied, in regard to
stockholders product whether sold abroad
have suggested the selection of Mr. E;
Granulated
is
the
now
quoted for export at 3.1D
is.’ Mans¬
fixing of prices or the regulation uf the
ion, the President of the Farmers’ Loan & cents against a domestic price of 4.90 cents production of refined sugar. The
industry in
Trust Company, of New York, one of our
per
pound.
This
difference is caused by the
oldest
and most conservative financial
refund
eenest
by
Government
the
the
of
and fiercest character./ Its corporate
institutions.
larger part of
Among other changes, it may be noted that the duty previousl paid upon the raw sugar, status has had the direct sanction of the
highest
your Board has’selected’James M.
to
tribunal
in the land, the Supreme Court of the
encourage the exportation of a produqt!
Beck, for¬
merly Assistant Attorney-General of the United manufactured in this country, and this refund United States*.1.1 h\Y
HP- *” * 4 '
States, as the new General Counsel for your is in pursuance of the recognized public
policjyof encouraging the
Company.
exportation of products
however, is
,,
.
•
:
►
.....
!
-
general impression, the protection ’ to the
1
,
general contends with
n. This
produced by American labor and capital.
This company has no : interests
whatever,
either directly or indirectly, in Cuba, Porto
Rico, Hawaii, the Philippine Islands or in
any foreign coimtry; it qoes not share in the
advantages that owners of sugar plantations
in these countries
may have in sending sug$r
Oompany
not a Monopoly.
misapprehension, to which it seems
Another
advisable to call ■- attention, is the common
belief that your company exercises a
monopoly
in the sugar trade.
When in 1$94 the Su¬
preme tJbk of the United States authori¬
tatively decided in United States vs. Knight.
et aX., 156 U. S.," 1, that
your company was
not a monopoly, under ,me
Sherman AntiTrust Law, this company mad a much
larger
percentage of such trade, but, with the intense
and ever-increasing competition which has since
prevailed;-the figures of Messrs. Willett & Gray,
the recognized sugar
statisticians, show that
your company does not now refine more than
43.$ per cent of the sugar consumed in this
country, and this notwithstanding the fact that
the\ meltings of your
company have been well
maintained,
There
j
•'<! .*--?**.
:
::•■!?-. *v»‘
,
in the United States three essen¬
tially "different classes of establishments pro¬
ducing sugar; firstly, the refineries which draw
their raw sugar almost
entirely from
countries and the dependencies of the foreign
United
are
this market.
We express no opinion as to whether it is
sound public
policy to stimulate the production
of beet sugar and of domestic cane
sugar by:
the present
duties, t These questions of policy
are for the determination of
Congress, and the
only purpose of this reference to the fiscal duties
relative to your business is to
emphasize the
fact that its
prosperity does not depend upon
high protective duties, viand that the margin
between the duty on the raw material and the
to
duty
on the refined sugar is so slight, being, as
previously stated, only seven; and ohe-nalf
cents per 100 pounds/that it has no
appreciable
effect in artificially enhancing the price of the
refined product by the exclusion of foreign im¬
portations.'
'
"r'u
■ ■
Cost of Sugar.
se<?ondly;:‘:the' beet-sugar factories,
rnake
white
granulated sugar directly
JriiiCh
At
a time when the cost of
from beets;
nearly all the
and. ^thirdl^,1 the' factories ,pf necessities of life is
steadily and persistently
„ana and the South; which extract
sugar
and manufacturing expenses gen¬
cane grown
locally, “your company is advancing,
erally are materially growing, it is with rhuch
interested in any way whatever in’
(this
satisfaction
.that
your attention is called to the
nurd class of establishments. Of the 21 caneprice of granulated sugar, Which has remained
sugar refineries, with an estimated maximum
very nearly stationary during the past ten years,
capacity Of dally meltings of 33,000,000 pounds, and is
actually less to-day than in 1900, such
your company operates 7 refineries and has an changes as have
occurred^-being in a slightly
interest > (in each case less than a
majority) in downward direction. There has, moreover,
♦refineries, and it pas no Intere&t whatever in been no increase in
the margin between the pripe
10 ’refiiieries,
Between these independent' xe- of raw and refined
sugars, which has remained
a^d .thpse operated by ypUr company, on
States;
.
.
.
V
.competition
is
% the number of
continuous
your
and
severe.
refineries in
opexa-
‘
.
’
■
:*t
•
I'
'
’
a competition .of the
Against the Company.
No extended or adequate reference can be
made in this reporter at .this time to the liti¬
gation against your company and some of its
employees, ior the reason that these matters
are stm the subject of Judicial,
investigation.
In April last the Board, through its
Secretary,
communicated to you a statement signed by
the counsel for the cotnpany^giving the reasons
why this company had settled a claim, which
had been made against it by the United States
Government by reason1 of certain''fraudulent
underweighing; of sugar at one pf your several
refineries
Your * Board J has ' efidea vored in
every way to facilitate the investigations of
the Government.- -Without the formality of a
subpoena, the officers of this company, with
the knowledge and
-approval of the Board,
have put in the possession of the special counsel
for riie Government, all books, documents,
letters and minutes of whatever kind/ that
such special counsel desired, and have
given
them tne freest and fullest access to the offices
of your company and the freest and fullest
opportunity to interrogate
ployees.
...No
any and
all
,i.,,<
attempt
em¬
v-
whatever
has
been made
to
shield any one and your Board has no reason
to fielieve and does not believe that any
execu¬
tive officer or director of this
Company had any
knowledge of ox participation in this fraudulent
underweighing.
- -'
;
'
o
.
...v
u.
Another litigated case, which has been the
subject of much inaccurate and unjust com¬
ment, is the suit brought against this com¬
pany by the Receiver of the Pennsylvania Sugar
Refining Company, growing out of a transacthe Segal loan, *ya AS
As it hap* also
en mad^the subjecf matter of
legal proceed¬
average at about 87 ceilts pet 100 pounds/;* at ings by the Government
against tms* c»inpany
is thus noteworthy that the entire
refining
busi¬
and some of .its directors, .any adequate state¬
ness is done at an
expense of a fraction of a cent ment of the true facts of the case at this
time
.
,
•
;
’
A V* I
■ *■
M’’-
vr
*
^
r
)'*1"
v
JAN. 15
THE CHRONICLE
1910.]
f
r-
i-
-
|^
■
in
i
financial.
.
THE AMERICAN SUGAR
'
!■
'
'
*
REFINING COMPANY—(Continued.)
:■
u'
.
r
.:»l,
,J SiC' ■■
1
quence, it is expected that sugar can be refined
at this refinery more cheaply than at
any other
in this
country.^ Extensive improvements are
in
might be misconstrued, and isltherefore?best
It is sufficient to say that the Suomitted.
ireme Court of the United States, when called
the legality of the acquisition
progress at the coippanir’a Bosttm refinery,
of four sugar refineries in the which* will lessen the risk from fird; result in
pon to consider
this company
Philadelphia, held that the Inter-State
jmmerce Law aid not apply, and it was therety of
Seater
capacityThese
ahd permit
Or moreineconomy
operation.
improvements
Boston
at all times assumed by this company and
inyplved during the current year the
directors land Officers at the time, of the expenditure of about $400,000. Additions to
gal lain,’’and stillts the opinion; of file counseL the facilities for storing and handling Sugar
Who hs*ye represented the fcompany in tfije liw hive been made ip Jersey Cpy.f pa<
itiofc, thftfute gpOft-time loan Whu# was made movements are also in progress JA tlis
in connection with the boiler house and power
> Segal upon the security of a controlling interit in one refinery, was not a violation of any systems.
During the year the Philadelphia
refinery has benefited considerably, from the
In the suit brought by the ^Receiver of the improvements made in 19Q8 it a cost of approxi¬
mnsylvania Sugar Refining Company against mately'$200,0001- A newblectrlc power System
and other electrical equipment have recently
our company, the United States District Judge,
ho tried the case at first, sustained the posi* been added, and these expenditures have aggre¬
on of this
company in this respect. The gated about $100,000. Much work has also
T__cuit Court of Appeals, however, upon the been done in the Havemeyers A Elder Refinery
i verments ifiade
by the Pennsylvania Sugar Re* to produce more economical results, and upon
I ning Company in its complaint, felt constrained this work satisfactory progress can be reported.
A very valuable asset of the American Sugar
1 o hold otherwise.
In tins decision and hi the
Refining Company is the Brooklyn Cooperage
t ubsequent American Tobacco case, that Court
It has factories in Boston,.. New
I ave a much wider interpretation to the Sherman Company.
jnti-Trust Law than any that had theretofore York, Philadelphia, New Orleans ahd Port
I een given.
Its soundness is now under re- Chalmette, La., with reserve factories and re¬
lew in the Supreme Court of thefUnited States, serve stock as precautions against fire.
It now
<in an appeal in the Tobacco case, and that owns in New York State 40,000 acres of timber
land with stumpage rights on 60,000 more acres.
l Jourt will soon finally determine the question.
< )n the trial of the case
against your company In Pennsylvania it controls timber on about
following the reversal of Judge Holt’s decision 30,000 acres. In Arkansas it owns 70,000 acres
§y the Circuit Court of Appeals, a proposition and in Missouri, 90,000 acres. It owns and
operates 9, stave and heading mills and inci¬
was made to settle the plaintiff’s claim for less
than onerfifteenth of the entire claim, and under dentally operates 80 miles of railroads in order
die advice of the very eminent counsel who to get Its timber to the mills and thence to the
represented this company it has given its assent factories. The condition of this company is
„
„
.
.
'
ip such settlement, which has
to final consummation.
fore ended.
.
..
now
most excellent and
been carried
state that the technical
VI. Condition of Refineries.
The
general physical condition of your re¬
fineries Is excellent., ?
■ {a*
The company’s new refinery at Chalmette,
La., which has been in progress of construction
_
,
1
tar several years, commenced' its operations
tat May and has a refining capacity of 3,000,-
'ii
J‘
and
*.*>• t
.•••*•9*1 '•
full statement of our financial condi¬
be prepared, the directors wish to
the stockholders that the year has been a
a
can
assure
The dividends have been
prosperous one.
fully earned.
The
company’s financial report for 1909,=
giving^ the^results of the year’s business and
bjf 31stjfl9G9iSis b^ng^pmpgredfand wbT be
sent to tire
stockholders
£t th<£iisjM'.timf£
The directors are “greatly gratmea'to have
received proxies for over 640,000 shares, which
is th^ largest nuiqber the management has ever
ved irt the history of the company,
f ./•'».
■
i
vm. List of Refineries.
The American Sugar Refining Company
operates the following cane refineries:
Standard Refinery, Boston;
*
Havemeyers A Elder, New York;
Matthiessen A Wiechers, Jersey City;
Spreckels
Refinery . Philadelphia;
Chalmette
Refinery, New Orleans.
The opmpany' %lso owns and holds in reserve
in readiness to start in case of the destruction
of any of the active refineries by fire or in case
of an excessive
potary demand for refined
sUgari - >”■
The Franklin Refinery, Philadelphia;
The Louisiana Refinery, New Orleans.
The company also owns one-quarter of the
vf
capital stock of the. National. Sugar Refining
Company, and one-half Interest irt the Western
Sugar Refining Company of San Francisco.
The beet-sugar companies “ irt which the
American Sugar Refining Company is interested
are
the
following:
Sugar Co., California;
Spreckels Sugar Co., California;
Utah-Idaho Sugar Col, Utah; “
Amalgamated Sugar Co., Utah;
r,
•
Alameda
the
,
\
Lewiston Sugar Co., Utah;
,«
Great Western Sugar Co.y Colorado;
.
Michigan
j
i
,
Michigan;
Iowa
'
i
Sugar Co., Iowa;
Carver Courtty Sugar G5V, Minnesota;'
j
j
Menominee River Sugar Co., Michigan;
~
000 pounds daily. It is equipped with the
a test labor-saving machinery ana, as a conse-
ib'.
tion
S;
to
operations of the cane
beet sugar factories are
showing better results than at any time in the
history of the company.
*
"\ii
Your Directors fully recognize that the con¬
tinued and permanent success of your company
must depend upon its ability to make the best
refined sugar as economically ’as any of Its
competitors, and to sell it to the consumer
upon fair and reasonable terms.
< H
We have disposed of our interest in the
coffee business, as well as Ouf interest in some
other agencies of distribution.
r<4
refineries
I
largely adds to the effident
The litigation is there¬ and economical handling of sugar.M 4- J "
It gives your Board great satisfaction
•
VII. Financial Condition.
Until
have
re
.
■
Continental Sugar Co.- Ohio.t
By order of the Board *
;
v •■;*/*l
J 4
C. R. HEIKE,
«,
decretory.
January 12, 1910
r-,
UtojUUttds.
dividends.
§ividitVLds.
PREFERRED DIVIDEND No. 37.
THE MILWAUKEE ELECTRIC RAILWAY &
LIGHT COMPANY
^<$0 Broad Street,
,
V New York, Jartuanr 10,1910.
rrrrr.
THE
BALTIMORE jHDHID RAILROAD
OFFICE OF THE SECRETARY.
Office of the “
GRAND RAPIDS RAILWAY COMPANY.
Grand Rapids, Mich., January 12, 1910.
The Board of Directors has this day declared
.
Baltimore, Md., January 13, 1910.
The Board of Directors this day declared from
asnss?
ferred Stock, payable
stockholders of record
EO (2) PER CENT on the Preferred Stock of
Company, to be paid March 1, 1910, to the
kholders of record at the dose of business
February 1, 1910.
I The Board also declared from the surplus earn¬
ings of the Company a dividend of Three (3) Per
Qent on the Common Stock of the Company,
payable March 1, 1910, to the stockholders of
record at the dose of business on .February 1,
1910.
%.
' 13i».
The transfer books will not close,
w
C. W. WOOLFORD* Secretary.
„
25
February 1st,
at
the
on
THE KANSAS CITY SOUTHERN
RAILWAY COMPANY.
Broad Street, N. Y. City, Dec. 14, 1909.
A quarterly dividend of ONE (1%) PER CENT
has this day been declared upon the preferred
ajk>ck of this company from the surplus earnings
of the current fiscal year, payable on January 15th
1910, to stockholders of record at 3 o’dock P. M.
December 31st, 1909.
is Checks for the dividend will be mailed to stock¬
holders at their last address furnished to* the
transfer office.
yr;*/R:. B. SPERRY, Secretary.
1910, to
dose of business
orders at this office.
SILAS W.
PREFERRED
DIVIDEND No. 41.
Office of
THE COLUMBUS RAILWAY COMPANY.
Columbus, Ohio, January 12th, 1910.
The Board of Directors of The Columbus Rail¬
way Company has declared the regular quarterly
dividend of ONE AND ONE-QUARTER (1 H%)
PER CENT upon the Preferred Stock of the Com¬
pany, payable February 1st, 1910, to stockholders
of record at the dose pf; bh&nese January 15th,
1910.
Checks will be mailed.
HERBERT M. B^RINGTON, Seotatary.a
V.I ¥X\J ^OFFICE of
T$?i kJ Wl
READING COMPANY,
i
^
„
PhUadeiphla, January 3rd, 1910.
The Board of Directors of the Nashville ChattanA Sit* Louis RaUway haa this day, declared a
semi-annual cash dividend of THREE PER CENT
uoga
.
The Board of Directors has declared from the
net earnings a dividend of Three Per Cent
the Common Stock of the Company, to
(3%) on
be paid
February 1st, 1910, to the stockholders of
record at the dose of business January 15th, 1910.
on
NASHVILLE CHATTANOOGA & ST. LOUIS RY.
Checks will be mailed to stockholders who have
filed dividend orders with the Treasurer.
.nwfAwstHwtOThtvwftt.,*?.
.
R. TAYLOR, Secretary.
(3%) payable on and after February 1st, 1910,
to such as shall be registered stockholders of the
Company at 3 9‘clock. P, M- on January 21st,
THE KANSAS CITY MEXICO & ORIENT
RAILWAY COMPANY.
1910.
Kansas City, Mo., January 10th, 1910.
The Stock Transfer Books will close at 3 o’clock
Coupons of the First Mortgage Bonds of the
P. M. on January 21st, 1910, and reopen at 10 Kansas
City Mexico & Orient Railway Company
o'clock A. M. on February 2nd, 1910.
due February 1st, 1910, will be paid at the Ameri¬
J. H. AMBROSE, Secretary.**?- can
Exchange National Bank, 128 Broadway,
ft trtnn., January f ith, I9l0.f
§; S New York. iV. .
t
...i r
.1
i
E. E. HOLMES, Treasurer.
PEOPLES GAS LIGHT AND COKE COMPANY
^
,
(pf Chicago).
-p-
Notlce Is hereby given, that a dividend of ONE
AND THREE-QUARTERS PE9 CENT (1 H%)
has been declared on the capital stock of this
Company, payable on February 25, 1910, to the
stockholders of record at the dose of business on
4>*v-T j
January I0i 11911* ‘
4 •,.4 u -L. A. WILEY, Secaretary.'
CO.! 7”
DB BARDELEBEN COAL ^ IRON
Mortgage Gold Bonds due
February 1st, 1910, will be paid at maturity, on
Six Per “Cent First
presentation at the office of the Tennessee CoaL
L. T. BEECHER, Treasurer.
f V.
'
ir
■>:
’*!
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..
FORTY-FIRST REGULAR DIVIDEND.
regular quarterly dividend of One and
One-Half Per Cent upon this Company’s Preferred
Capital Stock will be paid on January 31, 1910,
to all stockholders of record at the close of business
on January 20, 1910.
Checks will be mailed,
to stockholders who have filed permanent dividend
The
Office of
rr~
H. M. BYLLESBY & COMPANY.
v
Engineers—4^anagers.
. ,f
The Board of Directors of the
San Diego Consolidated Gas & Elec. Co.
has dedared a
quarterly dividend of One and
Three-Quarters Per Cent upon the Preferred
Stock of this Company, payable by check Janu¬
ary 15th, 1910, to stockholders of record as of
the dose of business December 31st, 1909.
The Preferred Stock books will be closed on
December 31st, 1909, and re-open on Janu¬
ary llth, 1910.’
u4"" - T^'r.k*.J.■;« jv?
R. J. GRAF, Assistant Secretary.
BURT, Secretary.
THE QUANAJUATO POWER A ELECTRIC CO.
Giddfngs Building, Colorado Springs, Colo.
PREFERRED DIVIDEND No. 6.
A dividend of ONE AND ONE-HALF (1 H%)
PER CENT upon the Preferred Stock of this
Company has been declaerd, payable February 1,
1910, to stockholders of record on the books of the
Company on that date.
The transfer books will be closed on January 20,
1910, and reopen on February 2, 1910.
LEONARD E. CURTIS, Treasurer.
Office of
H. M. BYLLESBY A COMPANY.
Engineers—Managers.
CHICAGO.
^
The Board of Directors of the
Oklahoma Gas & Electric Company
has declared
a
quarterly dividend of One and
Three-Quarters Per Cent' upon, the Preferred
Stock of this Company, payable by check Janu-'
ary 15th, 1910, to stockholders of record at the
jC^Me qf business December 31st. 1909.
The preferred Stock books will be closed Oh
December 31st,
1909, and will re-open on
January llth, 1910.
R. J. GRAF, Assistant Secretary.
.
ELECTRIC BOND A SHARE COMPANY.
DIVIDEND No. 19.
The regular
New York, January 13,
1910.
quarterly, dividend- of ONE AND
ONE-QUARTERT(1 H%t PER CENT on' the
Preferred Stock 'of the
Electric Bone? A Share
Company has been declared, payable February 1,
1910, to stpckholdera pf rasord at
close of
=on Which date the
buslness/JArtqary
transfer books will close andreopen Wednesday,’
February 2, 1910.
H. M. FRANCIS, Secretary.
ELECTRIC BOND A
SHARE COMPANY.
COMMON STOCK DIVIDEND No. 3.
New York, January 13, 1910.
The regular quarterly dividend of TWO (2)
PER CENT pn the Common Stock of the Electric
Bond 4b Share Company has been declared pay¬
able January 15, 1910, to stockholders of record
at the close of business January 14, 1910.
The
transfer books for the Common Stock will not close.
:
•
H. M. FRANCE Secretary, j
XX
THE CHRONICLE
[VOL,
LXXXX.
^ixvxutfal.
We Own and Offer
••
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/
$1,500,000
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Conrad Land and Water Co.
FIRST MORTGAGE 69b BONDS
(ISSUED UNDER THE U. S. CAREY ACT.)
Dated December 17, 1909.
Due Serially January 1, 1912, to January 1, 1924
Principal and Semi-Annual Interest (Jan. 1, July 1) Payable at American Trust & Savings
Bank, Chicago (Trustee), or Guaranty Trust Co., New York.
BONDS MATURING JANUARY 1. 1918, AND THEREAFTER. ARE CALLABLE AT 108 AND INTEREST ON
JANUARY 1. 1911.
OR ON ANY INTEREST DATE THEREAFTER ON 60 DAYS’ NOTICE
DENOMINATIONS, $100, $500, $1,000
SECURITY—These bonds are a first mortgage on all of the property owned by the Company,
including valuable water rights, entitling the Company to first storage appropriations for 275,000
acre feet of water per annum; all rights of way, canals and
reservoirs, Lake Francis, being 18 miles
in circumference, having a storage capacity of 170,000 acre feet; Laughlin and
Dry Fork reservoirs,
estimated to have a combined storage capacity of 70,000-acre feet, giving a total
storage capacity
of 240,000 acre feet, valued at $4,000,000.
Further secured by settlers' contracts placed with
the American Trust & Savings Bank, Chicago, Trustee, these contracts
being first mortgages on
their lands and placed with the Trustee at a ratio of $148 of contracts to
every $100 bond issued.
;j * LOCATION—The land^now to be^irrigated comprises a tract of 70,000 acres, lying in the
central part of Teton County, Montana, just east of the main ridge of the
Rocky Mountains.
There are two lively towns in this district, Conrad and Valier. Conrad contributes the third
largest amount of freight receipts of
any
town
on
the Great Northern Railway in Montana. The
Railway run through the district and furnish
Great Northern Railway and the Montana Western
convenient transportation for the entire tract.
LAND VALUES —As this farm land has an earning capacity of $20 to $40 per acre per
when irrigated, a conservative estimate places the value at from $75 to $100
per acre; thus
the security is from three to four times the amount of bonded indebtedness, which is limited
by
annum
the Trust Deed to $25 per acre.
Further
information, Engineering Report
on
Water Supply, Legal Opinion, &c.,
may
be had
on
request.
Price 101 and Interest
Established 1893
MUNICIPAL BONDS
First National Bank Building, Chicago
NEW YORK
SAN FRANCISCO
CITY BONDS FOR
TRUST FUNDS
j&eartrag St ©o.,
7 WALL
STREET.
.
-
NEW YORK.
BOSTON
PadficCoastlnvestments
BANKERS
Investment Securities
We invite
-
SPOKANE
BANK
R.
M.
GRANT
&
CO
BANKERS
SI NASSAU STREET
NEW YORK
OTTO JULIUS MERKEL
BROKER
44 AND 4« WALL STREET, NEW YORK
INVESTMENT SECURITIES
Correspondence Inrtted.
inquiries from
Individual Investors and Brokers
REFERENCES
I
Traders’ National Bank
Old National Bank
Hanauer-Graves Co.
SPOKANE,
.
WASH.
JAN. 15
1910.]
THE CHRONICLE
XXI
gittaaxtal.
We Own and Offer, Subject to Prior Sale and Advance in Price
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$2,000,000
<9
,
First
Mortgage 6°/o Gold Bonds
—OF THE—
Sacramento
Yalley Irrigation Co.
Guaranteed by the American Water Works & Guarantee Gompany
Dated June 1, 1909, Due
Amount
Denomination
$100,000
150,000
150,000
100,000
120,000
130,000
100,000
140,000
$1,000
1,000
1,000
1,000
1,000
1,000
Maturity
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
500
1,000
1,
1,
1,
1,
1,
1,
1,
1,
1910
1911
1912
1913
1914
1915
1915
1916
Serially
as
Amount
follows
Denomination
$100
$100,000
240,000
170,000
100,000
200,000
100,000
100,000
1,000
1,000
1,000
1,000
500
100
•
•
Maturity
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
1,
1,
1,
1,
1,
1,
1,
1916
1917
1918
1919
1920
1920
1920
Interest payable June 1st and December 1st at
The Trust
Company of America, New York City, Trustee
PRINCIPAL FEATURES OF THIS ISSUE
(1)
(2)
(3)
The property lies in the Sacramento Valley, California, and has a remarkably high productive value.
The company owns in fee and controls by option at this time over 100,000 acres of land.
The company possesses an unusual water right, granted by the State and confirmed by special Act of
Congress, giving it more than enough water from the Sacramento River to irrigate 2|>0,000 acres.
(4) The bondholders are amply protected by purchase money mortgages, and bonds can be issued only as
these purchase money mortgages are deposited with and
assigned to the trustee at a ratio of 125% of mortgages
deposited to 100% of bonds issued.
PROMPT PAYMENT GUARANTEED
The prompt payment of both
principal and interest on the bonds of this issue is unconditionally guaranteed
by the AMERICAN WATER WORKS A GUARANTEE COMPANY 07 PITTSBURGH, PA., capital and surplus,
$4,500,000. This company’s net earnings exceed $600,000 annually.
It guarantees only the securities of properties it investigates and constructs with its own
engineers and
controls and operates with its own organization. Since its organization
twenty-eight years ago there has never
been a single day’s delayjin the payment of either principal or interest on
any bond it has guaranteed.
The
strength of its guarantee continually increases as its business extends. With each new issue the additional
assets acquired by this constructing, operating and
guaranteeing company are always greater than the con¬
tingent liability assumed.
INVESTIGATION, CONSTRUCTION and OPERATION
The most
important requisite to a successful irrigation enterprise is the constructing and operating experi¬
intelligent discrimination in the selection of properties, accurate engineering, careful con¬
struction and successful operation. The American Water Works & Guarantee
Company’s success in the selection
construction and operation of over forty water works properties
throughout the United States, and three irri¬
gation projects in the Twin Falls Country, Idaho, where its canals serve 400,000 acres of land, is a matter of
record and amply protects the investor in this issue of bonds.
ence
which insures
Orders may be
telegraphed at
our
expense
Price, Par and Interest
Circular
describing this issue and Ulustraled booklet “The New California”
upon request
J. S. & W. S. KUHN, Inc.
Bank for
New York
ALFRED MESTRE & CO.
PHILADELPHIA
130 So. 15th St.
NEW YOKE
62 Broadway
Savings Building, PITTSBURGH
Chicago Philadelphia
Boston
A. G. EDWARDS & SONS
ST.
LOUIS, MO.
412 Olive St.
NEW YORK.
One Wall St.
p
XXII
THE CHRONICLE
tPmmciad.
LXXXX.
..>!»•
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omit,.
054 91
#sssfc mm. mm.
»
#
na t.Wv s.
COMPANY
JANUARY
M.
RICHARD
To the Board of
Directors:-** J
year I90f
fl Gentlemen—The
* *
* 1'y
1st, 1910
HURD, President
c:-vr
'
' 3
1
4 -** »•
r: i;
* * ^
iiU,
fes of Guaranteed
■
Mortgages
Outstanding Guaranteed Mortgages, $17,424,546. the gross earnings, $654,175, and the net profits, $508,177. all
exceeding the corresponding figures of any previous year, while the total Outstanding Guaranteed Mortgages now amount to $94,702,480.
The comparative figures for recent years are as follows:
'*w
“'
$86,333,294, the
—
—
-—
.
...
net Increase In
..
-
Net Gain in
Guaranteed
Outstanding
Outstanding Guaranteed
Mortgages. Mortgages December 31sf.
$5,663,500
$17,677,748
Mortgages
-59,014,0
10,4421540
28,110.397
40,876,781
54,454.150
12 #706,384
1907
1908
1909
-
-
?
1908.
1909.*
Guaranties$410,88$
$654,175
and Sta-
Salaries
Taxes
and
General
t
183,025
4,055
202,382
6,195
$569,931 $503,812
EXPENSES.
$421,989
$374,902
1908.
fo
17,424,546
*
.
94,702,480
The Assets and Liabilities of the Company on December
31st, 1909.
follows:
Assets
r Liabilities—
i
Y. City Mortgages
$5 £44,348 12 Caplt4L.X^:
$4,000,000 00
jmpany’s
Brooklyn
"M
SurplHi
2,000 000 00
Building, cost
175,000 0Q Undivided Profits
247,745 22
Cash
1,224.328 07 Mortgages Sold, not de- -.*•**■
Uvered
695,930 97
•
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_
$6,943,676 19
.
.
1906.,
1907.
1905.
$12,984
$8,563
$6,054
$6,343
14,404
13.282
71,910
11,539
64,889
11,663
86.625
53.788
8,701
46,670
25,969
21,067
17.631
17,095
31,523
$145,998
119,733
102,622
88,600
93.237
-—.
Expenses
1905/i
$166,325
$19,000
tlonery_--_
Expenses
,1906.;.
$234,909
10,012
63.679,725
77,277.934
were as
$296,310
199.372
8,130
1909.
Sent
*
dvertlsing
Company for recent years
1907^
i
$340,300
219,619
Interest on Mortgages 235,925
Rent, Comm’ns, &c_7,362
Earnings
----.^--35,383,194
y.
—
The Gross Earnings and Net Profits of the
have been as follows:
i i
EARNINGS.
Prems. for
20,316,677
Z7.152,558
-
—
13,577,369
9,225.575
13,598,209
$6,943,676 19
Since the Increase in March, 1903, Of the
capital^ Dividends
have been paid to Stockholders amounting Company’s
to $1,540,000# in addition to
which $814,091 has been carried to
Surplus or Undivided Profits, making
total net earnings of $2,354,091.
In addition to these earnings the net
increase in Unearned Premiums from January 1st, 1903, to December
31st#
1909, amounts to $933,406.
The Assets and Liabilities of the Company have been verified
and the
Commny’s^acj^imte^certlfled^is of December 31st, 1909, by THE
AUDIT
There are 7,121 mortgages outstanding, the average loan being $30,000
in Manhattan, $5,600 in Brooklyn and $13,000 in the Bronx.
An afiaiysiS of the Guaranteed Mortgages sold
during the year 1909 shows
the following facts:
'
„
Net
Earnings
$508,177
$450,198
<
£40*490
$333,389
$281,665
? The percentage of Expenses to Gross Earnings for the past few years
has been as follows: 33% In 1903; 31% In 1904; 25% in 1905; 22% in 1906;
20% In 1907; 21% In 1906y and 22% In 1909. > X
i The rate of Earnings and Dividends on the Capital Stock for recent
has been
as
.1 \
Capital.
$1,000,000
2,500,000
2.500.000
2,500,000
1903
years
follows:
Earns.
6%
t
7%
8%
11%
.7
capital.
** •.
6% 1908
7% -j iU:
Earns.
13%
16%
2,500,000
,18%
Dm.
8%
10%
10%
12,500,000
1909—--14,000,000 *15M% 12%
* On the
average Capital fbr the year of $3,250,000.
Capital Increased
July 1, 1909» from $2,500,000 to $4,000,000. *:•
-i
The large Increase In Outstanding Guaranteed Mortgages during the past
year
Is but little reflected in the earnings for that period, but will show in
future earnings.
^
.
,
‘
,
.
.
UNEARNED premiums.
.
...r..
In addition to the cash earnings are the Unearned Premiums, which
consist of the Company’s contract profit of one-half per cent per annum
<m outstanding mortgages from the date of this statement to the
maturity
ot the mortgages.
These future profits—which are not carried as assets—
amount
to
$1,036,961.
A
l HU
k
Savings Banks.
Ch^Sbte^mitnUdnKg1®^??!^]
*»
*
4
..-
_
M 06^5*00
-
._.
January 1st, 1907.
January 1st, 1908
—1.925
2,285
2,775
3,201
$35,333,294
January 1st, 1909.
January 1st, 1910
i The above distribution of rates indicates the drop in Interest rates during
the year 1909.
For the coming year the interest rates to investors will
BrobaDly
be private
4% netresidences
for Guaranteed
Mortgages
hlgh-clasB
mercantile
uildings or
in Manhattan
and On
4H%
on all other
Guar¬
Mortgages.
A&tjooo
Cgl\IT*Al. T**K. S
,4*868000
$35,333,294
From these conservative classes of investors the Company continues to
new customers, as is evidenced by the following figures:
0 NUMBER OF CUSTOMERS.:» l| ^ DISTRIBUTION BY RATES. C
January 1st, 1903
519 Mtges. sold to net 4%
$3,087,000
692 Mtges. sold to net 4 H %
January 1st, 1904
30,720,794
January 1st, 19Q5
1,012 Mtges. sold to net 5%
1,525,500
January 1st, 1906.
1.365
gain
E IQHTH
.,g>tv.BWy.r|j
$4,559,000
1,024,600
10,437,1751 Trust Companies
Outstanding Guaranteed Mortgages of the Company
2
$4,438.4501 Insurance Companies
Trustees
anteed
The following May shows the distribution of the total
t^
DISTRIbDJiC^JUBY CUSTOMERS.
„
on
,
Jan. 1st) 1919, in Manhattan, the Bronx and Brooklyn.
^
*HJ32*K>C
*
J
5
•PARK
8SO
i
Avg.Sr',,
Av*
-
J*
*j
- ■
2.-84-6-000 It 9^9^800
r
I1,1
* It is worthy of note that 64 per cent of the Company’s
mortgages are on
Manhattan Island, while 27 per cent are in
Brooklyn and 9 per cent in the
Bronx.
VALUATIONS OF LAND AND BUILDINGS AND FIRE INSURANCE.
Val. of Land. Val. of Bldgs.
Total.
Mtge. Loans. Fire Ins.
Manhat’n $50,003,530 $42,905,850
$92,909,380 $59,433,200 $47,807,950
Brooklyn. 12,907,635
Bronx
4,744,350
Mtge. Ctfs. 1.110.700
-
30,957,990
9,518,900
1.235,900
43,865,625
14,263,250
2,346,600
25.318.448
8,506.300
1.439,532
28,842.580
9,483.650
1,200,000
a—«.
$68,766,215 $84,618,640 $153,384,855 $94,702430 $87,334,180
i *the average amount loaned by the Company Is 62
per cent of the Com¬
pany’s own appraisal.
For the absolute protection of the holders of Guaranteed
Mortgages,
the Board of Directors has adopted the following By-Laws:
i “The amount of outstanding Guaranteed Mortgages shall not exceed
twenty times the Capital and Surplus of the Company.’’
“This Article shall not be amended or repealed tkoept Wfththo
written
consent, duly acknowledged, of the holders Oit-kHthe policies Of mort¬
gage Insurance then outstanding Issued by the Company.” ,,r ..
j “Mortgages shall be guaranteed by the Company only when seeUtPd
by real estate Improved for business or residence purposes, and situated
within the present limits of the City of New York; or such
enlargements
thereof as may hereafter be fixed by law.
v
,
“OuOh mortgagee shall not jOkceed two-thirds of the valuation of
the
ieCurlty as asfCeltantedl fey the Company** apprateers, or such
forget ^p*ft*fitoge 0# said-Valuation a* taay be fixed by the laws of the
State of New York for the investment of funds held by
Trustees, Trust
Companies 6t Life Insurance Companies,^ < i * ^ 1# . .< ^
1 j “The charge of the Company for guaranteeing the payment of mort¬
gages shall hot exceed one-half of one per cent pet annum of the principal
Amount guaranteed.
It “This Article shall not be amended or repealed except by the written
consent of throe-fourth* « WwDireeiwnf then tn omce, amt by vote oT
a
majority bt ^ the outstanding stock Of the Company at
stockholders' meeting called for that purpose.”
a
special
'•
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"•)
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:■■■■
Ttrffrrr
rv »'
These limitations have been for many years in use by the Company, and
their effectiveness In safeguarding the Company’s mortgage investments is
clearly evidenced by its unusually clean record In the matter of delinquent
interest and foreclosures.
The Company has now under foreclosure only
23 mortgages, many of which will probably be paid off prior to foreclosure
sale.
The Company owns no foreclosed real estate, and the Interest de¬
linquent for more than one month Is only $6,768.
Since December 12th, 1894, when the Company began business, 10,800
mortgage loans have been made, aggregating $173,000,000, of which the
Company has been compelled to purchase 18 at foreclosure sale, amounting
In total losses to the Company In fifteen years of
to $423,900, resulting
only $13,057.
A noteworthy event during the year has been the purchase by the stock¬
holders of the Company of $1,500,000 of new stock, the Capital thus being
increased from $2,500,000 to $4,000,000, and the Capital and Surplus now
amounting to $6,000,000. This action Is highly Important for the protec¬
tion o£ add holders of our Guaranteed Mortgages, and follows out the Com¬
pany’s established rule of increasing its capital stock In proportion to its
increase- lb Outstanding Guaranteed Mortgages.
The steady growth of the-Company’s business during
the past few years,
Cungiog
tgingtheo
thS outstanding Guaranteed Mortgages up to nearly ONE HUNDRED^ MILLION J>OLLARS, involves corresponding responsibilities and
obligattons. vThS guaranteed mortgage business, like many others, runs
smoothly in prosperous times, and the chief thing to guard against is a
period of hard times.
While all Indications nowl point %6 ACfoWiyemti of
prosperity, such a period is:sure to, bo followed sooner.aar foter by hoe of
depression. It behooves a prudent management hot to be earned awky t>y
high prices for real estate 111 prosperous times, butvtq,adhere t<vconserva¬
tive real estate valuations-—even at the cost of doing a smaller
business;
to continue careful lnspeetloaa of all properties on wfctah
mortgages are
being extended; to enforce prompt payment of interest and taxes” and to
maintain ample cash balances.
With such sound and cautious methods,
it la believed that thfoCpmpany wRlrender
tojfogiletna not only the serv^wweft
Tn^peTOrra tfrprosperJiy it nowrxrrnisheg, pat an even more valua¬
ble service when periods or depression arrive.
Annual Report of the Company Mailed on Bequest.
_
1910.]
THE CHRONICLE
''
«
1
Jan. 15
■
a -
■
«
-A
"
xxm
■
; LARGE YIELD!
For oVer
*VS, C.f..
■
*
r\
r
"“"T
,
rl
O
twehtytydaite w6 have specialized in the purchase aid sale
Jr v
,£
ih^ ^ large
itiv
return.
During this period our clients have enjoyed large] incomes and profits, with equal
than the holders of any other class of Bonds.
or greater
security,
Due.
Interest.
To Yield.
1955
J&D
4.62%
1933
M&S
4.88%
1947
A&O
5%
1955
J&J
5.10%
1955
J & J
5.12%
1949
A&O
5.40%
1955
M&S
7%
1924
A&O
6.25%
^Dwc.
Secured and Gustr. 6s May 1st 1911
To Yield.
WE NOW OFFER WITH ABSOLUTE CONFIDENCE
\»
■
$100,000
.
Mason City & Fort Dodge
An
V,
;
.
.1
■
'
—1st 4s
underlying Chicago Great Western Ry. bond and
first lien
a
on
the
main line to Omaha.
$60,000
Seaboard Air Line, Atlanta-Birmingham Div.
Underlying Seaboard Air Line and
between Atlanta and Birmingham.
$30,000
first mortgage on the main line
New Mexico Ry. & Coal (Phelps-Dodge System)
A first
interest
$200,000
a
The road
mortgage main line bond,
charges, r
:
KWl
-
■
5.t*
....Consolidated 5s
exempt in New York State.
Secured by New York City real estate.
.
The company is’ earning about
double interest charges and is rapidly growing
$250,000
1st 5s
about three times
earns
Bush Terminal....—
Tax
% -i
1st 4s
m
importance.
Pere Marquette RR. (Baltimore & Ohio System)....Ref. 4s
Interest
these bonds
paid promptly throughout the receivership
Marquette. For five months ending Nov. 30th, 1909, the
shows a surplus of $509,146.96 above all charges.
r., *»l?
on
was
of the Pere
11
company
.
-.0*4?
$114,000
Tainpa & Jacksonvillel"
t.
A first
ing
$164,000
#
\v
i.
1st 5s
f
jf
%
*
-
„
,,
mortgage at $16,000 per mile on a growing property, now earn¬
double interest charges.
over
O’Gara Coed Sinking Fund—
A first
1st 5s
.....
about 25,000 acres of the best coal land in .Southern
important coal company on the New York
Western links.
Earnings are largely in excess of Interest charges.
mortgage
Illinois.
on
This is the most
Central*s
St Louis Transit
$300,1
r
j
-A
........^Improvement 5s
—
Guaranteed, principal and interest, by the United Railways Co, of St.
Louis. f Bonds are followed by $16,400,000 preferred stock, paying 5%
dividends since 1900.
Earnings over three times interest on Improve¬
ment 5s after deducting all other charges.
SHORT-TIME INVESTMENTS
t ]
.
_
,-«r
$150,000
Colorado-Utah Construction
$100,000
Delaware River Steel.
A first lien
on a
mortgage.
Steel Company
' ■
Circulars
*
*'
1
%
describing
any
an
V
6M%
outlay of five times this
of the above issues
.
,
We maintain
Nov 20th’ii-’12
1st 6s
representiiig
6%
^
■
^
of the
on
request.
A
i
.
j.
’A
largest and1 ihost complete Statistical Departments in America, and its facilities
always at the disposal of our clients.
*
are
one
VI
0 m ci.'sci
.|nsri j).. biSMAN & 0O
30? BROAD
$TREET^ NEW YORK
Members New York Stock
5 .vmiB
.
-'Hir.h!!
r...
pTTTT.AnKT.PTTTA
83<Jl£an4 Title
Building
ir‘
BRANCH
BOSTON
tr.--
22
E)$hango
mh*9mu«4
Congress Street
HARTFORD
-mm*.
■
■—** **s'«
39 Pearl Street
"
fv
tfi'i?)
BALTIMORE
706 American Building
XXIV
the chronicle
[VOL.
LXXXX.
*
Igtaauucinl.
$100^000
Chicago & Eastern Illinois R. R. Company
Refunding and Improvement Mortgage 4% Gold Bonds
Dated 1905
Due
July 1, 1955
Issued, $12,855,000
Total Authorized, $55,000,000
Interest payable January 1 and July I
$1,000 Coupon and $1,000 and $10,000 Registered Bonds
interchangeable. Coupon bonds may also be
registered as to principal only
Entire issue redeemable at 102J^
This refunding mortgage covers the entire
Chicago & Eastern Illinois RR., with equipment, terminals
and all appurtenant railway
property now owned or hereafter acquired, subject only to prior liens now
outstanding for $27,582,000, which it is provided shall be paid at or before maturity, when this issue will
become the first lien on all the
company’s railways.
The 1909 annual report shows a balance for these
refunding 4s of $1,031,219. For the 5 months
July 1st to November 30th, 1909, the Company reports:
Gross operating income of $4,972,105, an increase of
$594,976, or 133^%
Net Operating Income after taxes $1,637,231, an increase of
$453,335 or 38%
The Company is paying 6% dividends on the
$8,830,700 preferred and 10% on the $7,217,800
Now
common
stock.
Price 8634 and Interest.
To Net
nearly 4%%
$100,000
Queens Borough Gas & Electric Company
General
Dated
Mortgage 5% Gold Bonds
1902
Now
Due July 1, 1952
Outstanding, $1,600,000
Total
Authorized, $2,000,000
January 1 and July 1
Coupon bonds of $1,000 each, with privilege of registration of principal
Interest payable
.
Under the terms of the
mortgage these bonds are secured by a lien on the franchises, real estate, gas
and electric plant, and all other
properties of the Queens Borough Gas & Electric Company now owned
or hereafter
acquired. The Company is organized under the laws of theState of New York and does the
electric and gas lighting business in the
Rockaway District of New York City (5th Ward,
of
of the best known and most rapidly developing suburban districts. It hasBorough
no compe¬
tition and operates under
perpetual franchises both for gas and electricity, except that the franchises on
the Nassau County Road are for 50
The population has about doubled since 1905, and
years from 1904.
is now increasing more
rapidly than ever before. The net earnings for the twelve months ending July 1,
1909, were $192,740 00, and for the calendar year are estimated as
considerably in excess of twice the
bond interest of
Queens), and in
one
$100,000.
Price 100 and Interest.
FULL
DETAILS
UPON
To Net 5%
APPLICATION
Wm. A. Read & Co.
Memben of the New
Bankers
York, Chicago and Boston Stock Exchanges
25 Nassau Street, New York
19
BOSTON
Congress Street
BALTIMORE
203 East German Street
LONDON
5
Lothbury, E. C.
CHICAGO
240 La Salle Street
■V1
financial
onxmerrtal §
INCLUDING
V
Quotation Section
Railway Earnings Section
Bank &
VOL. 90.
Railway & Industrial Section
Electric
Bankers’ Convention Section
State
Week
1910.
Terms of Subscription—Payable In Advance
For One Year
For Six Months
$10 00
.
600
European Subscription (including postage)
European Subscription six months (including postage)
Annual Subscription in London (including postage)
Six Months Subscription in London (including postage)....^
Canadian Subscription (including postage!
13 00
7 50
£2 14 s.
£1 11 a.
$11 50
Subscription includes following Supplement*—
B 'NK and Quotation (monthly)
State and City (semi-annually)
Railway and industrial (quarterly) Electric Railway (3 times yearly)
Railway Earnings (monthly)
Bankers' convention (yearly)
Terms of
Advertising—Per Incb Space
Transient matter per inch space
$
295,447,742
29.676,500
20,657,898
Chicago
Cincinnati
Cleveland
__
20,678,396
14,311,272
11,257,573
6,525,200
4,195.577
3,677,302
3.155,251
2,399,484
2,422.808
1,545,258
1,199.341
Fort Wayne
....
1.194,973
Lexington
Youngstown
....
Detroit
Milwaukee
—
Indianapolis
-
$4 20
(s times)
22 00
)< Three
Months (13 times)
slx Months
29 00
(26 times)
50 00
(52 times)
87 00
CHICAGO OFFICE—P. Bartlett, 513 Monadnock Block; Tel. Harrison 401i.
LONDON OFFICE—Edwards & Smith, 1 Drapers’ Gardens, E. C.
V. Twelve Months
WILLIAM B. DANA COMPANY, Publish era,
P»Q» Hox058»
Front, Pine and Pepeyater Sts..
New York.
Published every Saturday mornin-r by WILLIAM B. DANA COMPANY
William B. Dana, President; Jaeob Seibert Jr., Vlce-Pres. ab-t Sec.: Arnold
G. Dana, Treas. Addresses of all,Office of the Company.
The following table, made up by telegraph, Ac., Indicates that the tota1
bank clearings of all clearing houses of the United States for week ending
Jan. 15 have been $3,882,909,097, against $4,858,798,958 last week and
$3,422,534,700 the week last year.
Boston
Philadelphia
Baltimore
...
Chicago
St. Louis
New Orleans
1910.
1909.
$2,028,707,499
165,624,009
139,493,483
29,081,351
227,325,173
67.687,107
25,789.138
$1,758,544,194
147,290,658
109,379,224
25.153,116
226.941,967
63,135,692
19,576.304
%
Peoria
Grand
Rapids...
Dayton
Evansville
Kalamazoo
.....
Akron
Rockford
South Bend
Springfield, O
Canton
Quincy...Bloomington
...
Jacksonville
Danville
Ann Arbor
Tot. Mid. West.
San Francisco
Loe Angeles
Seattle
Helena
Sfleremento
$2,350,021,155
452,089,613
+ 14.2
+ 11.2
Total all cities, five days
All cities, one day
$3,187,490,171
695,418,926
$2,802,110,768
620.423,932
+ 13.8
+ 12.1
$3,422,534,700
The full details for the week covered by the above will be
+ 13.5
given next Sat¬
We cannot furnish them to-day, clearings being made up by the
clearing-houses at noon on Saturday, and hence in the above the last day of
the week has to be in all cases estimated, as we go to press Friday night.
We present below detailed figures for the week ending with Saturday
Week ending January
Albany
Washington
Rochester
Scranton
..
Syracuse
Reading-.:
Wilmington
Wilkes-Barre
...
Wheeling
Harrisburg
Trenton
York
Erie
Binghamton
-
Chester
Greensburg
Franklin
Altoona
•
Hartford
New Haven
Springfield
Portland
Worcester
Fall River
New Bedford
—
Holyoke
Lowell
-v
Total New Eng.
1909.
S
$
3.320,863,772 2,459,233,739
202,189.572
143,716,554
60,651,457
46,116,297
39,897,133
32,503,680
10.652,122
9,900,776
7,267,970
6,866,747
7,857,828
8,967,011
7,263,038
5,150,281
3,996,767
3,217,266
3,666,787
3,025,218
1,550,000
1,503,518
1,913,055
1,521,079
1,421,898
1,432,780
2,283,830
1,623,765
1,746.386
1,473,409
2,350,000
1,907.314
1,064,981
877.867
1,338,771
762,704
527,700
581,400
649,123
668,956
700,000
691,555
300,000
325,144
449,078
388,427
Total Middle.. 3,681,713,451
Boston
Providence
8.
2,731,337,304
221,566,893
10,762,200
6,634,407
4,034,170
2,874,007
2,733.629
186,371,561
8,887,800
4,697,354
3,312,763
2.549.807
2.387,210
1.848.423
1,198.710
1,558,092
1,199,666
799,899
540,710
255,090,883
2.014.352
833.059
613,775
457,006
212.784,610
Inc. or
Dec.
1908.
1907.
$
$
%
+35.0 1,397.075.202 2,223,955.208
146,916,994
116,322.939
+ 40.7
54,515,886
42,264,915
+31.5
31,171,346
25,140.136
+ 22.8
8,859,319
9.039,566
+7.6
7,674,127
+ 5.8
5,163,790
6,779.436
5,693,969
+ 14.1
3,799,561
3,556,503
+ 41.0
2,353,239
2,358,753
+24.2
2,077,477
2,338,508
+21.2
1,362,212
1,250,444
+ 3.1
1,422,566
1,132,965
+25.8
1,386,388
—0.1
1,306,023
1,031,656
1,366,810
+40-6
1,000,000
1,101,553
+ 18.6
+ 23.2
705,474
+21.3
683.97i
595,051
+75.5
630,000
—9.2
531,900
539.121
—3.0
521,433
554,961
521,066
+ 1.2
314,967
—7.7
351,850
331,762
+ 15.6
+34.8 1.618,670,612 2,497,028,432
+ 18.9
+21.1
+41.2
+21.8
+ 12.8
+35.7
+29.2
+30.0
+43.9
+30.3
+ 18.3
+ 19.9
526,390
206,504,566
9,011,100
4,824,158
2.957,460
2,114,262
1.985,169
1,633,952
1,172,454
888,727
623.215
577,783
i67.410.712
232,292.846
144,558,510
7,091,300
4,400,060
3,083,304
2,004,685
2,123,517
1.338.060
999,552
743,660
541,674
;
•This year’s clearings considerably Increased by out-of-town clearings
San Jose.
Fresno
Stockton
North Yakima
Billings
Total Pacific..
....
Minneapolis
Omaha
St. Paul
Denver..
St. Joseph
Des Moines
Sioux City
Wichita
Lincoln
...
1910.
Baltimore
Buffalo
Diego
Davenport
Topeka
Cedar Rapids
Colorado Springs
Clearings at—
Philadelphia
Pittsburgh
San
Kansas City
urday.
New York
—
Satl Lake City
Portland
+15.6
+0.6
+7.2
+31.7
Pueblo
Fremont
Fargo
33,946,150
19,685,350
15,741,733
12,628,551
10.039.904
6,657.900
3,276.756
3,245.738
2,662.767
2,339,978
2.381.972
1,272.776
1,314,567
1.041,859
807,689
882,799
720.000
499.396
694.416
677,488
748,106
522.180
569,882
Tot. oth.West.
St. Louis..
New Orleans
Louisville
Houston
Galveston
Richmond
Atlanta
Fort Worth
Nashville
Savannah
Norfolk
.
Jacksonville
Little Rock
Charleston
Chattanooga
...
Vicksburg
Austin
Jackson
Meridian
Wilmington ,N.C.
Total Southern
+28.0
+ 13.3
+ 18.5
+2.5
+ 1.7
+21.5
—8.8
+ 14.7
420,217.149
50,255.480
15.737,444
12.876.943
5.418,139
8,151,229
9,234,382
6,130,250
3,067,919
1,124,596
1,132,758
1,220,000
664,607
596,058
462,226
450,000
226,469
31,577,494
12,654,394
8.939.955
116,748,500
54.619,465
23,987,752
17.557,284
10,885.277
11,189,983
6,000,400
4,500,000
2,550,000
2,500,000
1,907,305
2,483,075
1,157,916
1,616,870
895,837
613,451
398,236
995,180
144,803,031
30,305,951
Birmingham
Augusta
—2.0
429.233,516
81.746,080
Memphis
%
+0.0
—12.6
+4.9
+31.4
+ 13.3
+ 12.1
427,092
403,599
-
359.770
350,000
412,250
419.035
199,944
4,152,954
6,471,362
6,363,462
4,932,936
2,104,592
1,256,760
1,137,765
906,000
627,258
$
207,339.790
27.627,600
16,954.164
12,927,155
12,175,602
6,810.152
5,082,100
4,148.464
2,683,567
2,087,253
1,933,052
2.278.454
1,081,582
1*102,455
658.567
926,207
685,137
600,000
544,694
552,631
492,764
422.451
497,175
482,166
416,523
249,873
303,509
289,156
312,059
174,527
28,000
1907.
$
230,301,722
32,206*150
18.643.876
13,795*443
11,929,350
9.827.522
6,179,100
4,184,990
3,096.568
2,717,811
2.573.506
2.151,425
1,166,866
979,684
938,667
859,452
805,692
773,884
634,494
590*327
538,811
630,544
525,645
448,370
397,280
365.062
313,256
280,978
280,000
145,003
22,000
300,000
+2.1
312,146,829
348.223.838
+59.2
31.334,601
43,901,199
+24.4
8.601.765
12.425.160
+44.1
+30.5
7,360,109
2,711,020
+26.0
+45.1
+24.3
+45.8
—10.5
3,798,435
9,204,398
2,803,909
7.764,016
6,600,000
4.804.377
3,883,929
965,955
—0.4
5,350,000
4,652,538
1,521.200
677,124
900,000
725,000
306,000
543.274
456,782
300,000
183,218
82.608.206
+41.3
68,648.329
92,652,943
49,066,464
17,968,286 +33.5
14.520,228 +20.8
+7.2
10,156,673
9,508,762 + 17.7
7,525,492 —20.3
4,227,508
+6.4
2.985,315 —14.6
1,750.204 + 42.8
1,607,004 + 18.7
1,602,529 +55.0
1,393,933 —16.8
1,281,018 +26.2
+7.2
835,376
—8.1
667,833
371,443
+7.2
601,630 +65.4
750.000 + 26.0
33.466,553
22.714,547
11.986,628
9.139.441
7,411,921
5,176,606
2,863,031
2,217,655
1.394.424
33,158,271
19,530,808
10,469,838
8,815,168
9,748.860
5,565,176
3,173,086
2,269,838
1,272,972
1,210,390
1,117,601
1,077,411
658,970
+ 11.3
300,000
430,537
200,000
1,247,502
1,030,060
1,011,782
885,021
614,881
555,897
360,296
720.000
704,519
714,033
405,709
648,869
511,791
+ 14.2
103,583,019
101,051,210
75,214,089
+8.7
19,580.675 +54.3
+3.1
17.159,679
—0.2
15,850,010
—■5.2
9,645,000
8.639.266 +20.2
6,700.000 + 141.5
7,206,141 +32.1
6,954,025 + 19.3
5,314,847
+3.5
4,411,891 +36.3
+5.3
2,962,395
2,532,867 +35.8
2,265,053 + 14.8
2,021,803 + 41.1
1.848.272 +31.1
+4.2
1,819,744
1,712,459 +49.6
1,734,720 + 19.0
1.814,464 + 15.3
1.484,787 +54.9
1,030.917 +40.7
656.507 +22.4
61,113,749
20,704,671
.11,575,058
10.485.041
7,187,500
68,160,965
25,601,620
14,938,109
14,263,956
6,375,363
5,330,387
7,207,834
6,712,276
6,417,781
126,819.698
200,653.615
Total all...... 4,863.796,956 3,774,420,582
786,774
In total
17.685.134
15,822,415
9,140,500
10,388,556
*16,181,537
9,522,480
8.294,408
5.500,000
6,011,788
3,118,600
3,438.707
2,600,000
2,853,478
2,422,777
1,895,494
2.562.469
2,064,360
2,091,294
2,300,000
1,450,000
803,233
551,937
649.560 —15.0
1,223,266
609,026 + 100.9
625.000
400,000 +56.3
505,190 Not included in total
608,111
435.418 +39.7
241,207,575
1908.
+34.7
+6 0
+9.7
+ 1.2
+ 60.0
+23.6
945.000
3,517,616 Not included
Sioux Falls
Duluth..
Mobile
Knoxville
Oklahoma
Macon
Beaumont
$
295,378.026
Inc. or
Dec.
19,576
316,992
398.159
454,725
435,763
524.487
247,976
78,283
Jackson—
+27.5
1909.
589,408
Mansfield
Tacoma
Oakland
$2,683,707,760
503,782,411
$3,882,909,097
ending January 8.
+53.5
+25.3
+33.6
+8.4
+4.9
+6.6
+26.9
+48.4
+24.4
+ 46.1
+ 10.7
+29.9
+5.7
+ 25.1
+24.0
+299.9
+34.7
1,239,135
1,106.118
962,000
541,393
728.581
722.479
950,000
775.000
708,342
Decatur
+ 15.4
+ 12.4
Seven cities, five days
Other cities, five daysI
Total all cities for week
-
Toledo..-.
Spokane
New York
-
Adrian
Lima
CLEARING-HOUSE RETURNS.
Telegraph—Week end.Jan.15.
-
ColuinbUs
Springfield, Ill
(14 agate lines)
( Two Months
Business cards
Standing
c-ard*
Standing Business
NO. 2325.
Clearings at—
PUBLISHED WEEKLY.
Returns by
Railway Section
and City Section
SATURDAY, JANUARY 15 1910.
gfte Ctotxitit.
W
+20.2
6,076,433
5,007,284
4,235,528
3,982,942
2,303,888
1,985,241
2,154,717
1,424,542
1,654,035
1,643.682
1,568,978
1,629,436
1,438,834
771,737
871,634
400,000
541,354
571,146
8,783,000
4,781,058
5,138,398
5,201,679
2,931,125
2,424,610
2,216,156
1,760,584
1,829,107
1,807,375
1,679,751
2,204,710
1,838.330
1,161,900
810,000
410,000
400,000
400,000
161,033.210
188,1570.304
+29.0 2,431,892,711 3,459,919,573
==^e=:
department
Outside N.Y.. 1,547,933.184
1,315,186,843
+17.7 1.034,817.509 1,230.964,365
Now.—For Canadian clearings see "Commercial and Miscellaneous News.*!
134
THE CHRONICLE
:
;—
1—r—ptFt
——W
r .r
xW
[VOL.
-s
—*.
;
... I,..
-
LXXXX.
■■V—
—-
has
THE FINANCIAL SITUATION.
'ft
Political matters
again exercising a dominant
influence in flfff^irs. We referred last week to the wave
of deptfeeaio%tha%wafj th$n
spreading over the financial
markets anc| to the decline, in. security values which
had followed
tumbled still
as
a
are
result.
given out its ftgpijesj of| gross for the month* of De¬
cember, showing a loss of $420,756, following $463,640
decrease in the
making
a*
month of the
preceifing* year,
falling; off fpr the, two years for this month
same
:of $884,396;;. The Denver <fc Rio Grande
the first
week of January reports a decrease of $21,500 and the
This week values have Colorado & Southern for the same week also shows a
further, and there has been tremendous slight falling off, while Rio Grande Southern, a minor
liquidation in stpcks, mainly, it would seem, by in¬ dependency, has had its small earnings, cut in two,
vestment holders. The downward movement has so that they are only $6,222 for the week in 1910,
been in progress eve.- since Monday of last week, when against $11,162 in 1909. The results in these cases
the;,railroad presidents, at the instance of Mr. J. P. are deemed significant, inasmuch as the returns come
Morgan, had their conference with Mr. Taft with the from roads situated in the western half of the country,
idea of dissuading him from carrying out the radical where
especially unfavorable conditions are being en¬
policies in the way of railway regulation and corpora¬ countered for the time being. The weather west of the
tion control to which he seems determined to commit Mississippi River has been
unusually severe through
his Administration. Since the President’s special December and thus far in
January. Evidently, also,
message went to Congress last week Friday, disclosing the effects of the switchmen’s strike in the Northwest
the nature of his proposals, the downward trend of have not yet completely worn off. With gross earn¬
values has become steadily more pronounced. And ings contracting and expenses
running up, it is obvious
yesterday the break reached such dimensions that the that the showing as to net must be poor. In that part
market assumed a panicky aspect.
of the country, likewise, new competition in the op¬
It is evident that the President’s policies, and the eration of the Puget Sound line of the Milwaukee &
fear that he may be able to impose them upon Congress, St. Paul and the early opening of the Western Pacific
are causing deep concern.
Bond houses have had are likewise factors that must be reckoned with. In
difficulty in floating new loans for some time past— addition, a decision handed down by the U. S. Su¬
ever since the close of last summer, when the President
preme Court on Monday cannot be viewed as alto¬
started on his speech-making tour around the country, gether assuring. This decision had to do with the
and took pains to let it be known that he was imbued power of the Inter-State Commerce Commission to
with the same notions and doctrines as his predecessor, order a distribution of cars
among different shippers
and would endeavor to have these ideas enacted into in times of a car shortage, and is to the effect that
law. But, though investors were timid about buy¬ authority to make such distribution is vested in the
ing new bond issues, holders of stocks continued to Commission, and that to provide a just and equal
manifest confidence in a satisfactory outcome under distribution the Commission can include even the cars
the growing revival of trade; now these, too, are reserved
by a road for carrying its own fuel. The
seemingly losing hope and evince a desire to let go Court had three cases altogether under consideration,
of their holdings.
one arising on the Hocking
Valley, another on the
Main concern has thus far been felt with reference Illinois Central and the third on the
Chicago & Alton.
to the plan for railway regulation, but as the words of The decision itself is of no
very great consequence,
the President’s special message are being weighed and
except so far as it shall encourage the Commission in
pondered, the feeling of uneasiness is spreading, since its regulating propensity.
Mr. Taft makes it plain that the same pernicious ac¬
Statistics are now available regarding copper pro¬
tivity arranged for the transportation industry is con¬
templated with reference to the great manufacturing duction and consumption which enable one to take
corporations. In the meantime, and as a preliminary, a clear survey of the situation of that metal. The
there is to be an extensive raking up of the past in the
Copper Producers’ Association on Monday made public
true Roosevelt fashion.
The “Big Stick” is once more the figures for the month of December, completing
the
in evidence.
Mark these words from the special results for .the calendar
year.
The results for Decem¬
message:
“It is the duty, and the purpose, of the ber are favorable as far as they go, showing as they do
Executive to direct an investigation by the Depart¬ a decrease of
11,237,416 pounds in the stocks of mar¬
ment of Justice, through the Grand
Jury or otherwise, ketable copper during the month, reducing these
into the history, organization and purposes
of all the stocks from 153,003,527 pounds to 141,766,111 pounds.
industrial companies with respect to which there is
any Unfortunately, however, there was at the same time
reasonable ground for suspicion that they have been or¬ an increase of
7,345,960 pounds in the foreign visible
ganized for a purpose and are conducting business on a supply of the metal. This last has been the conspicu¬
plan which is in violation of the Anti-Trust Law.” The ously weak feature of the situation of the metal
Anti-Trust Law is not to be amended, and this threat
through practically the whole of the last two years.
is deliberately made with the view to
compelling these The production during December was 117,828,655
industrial combinations to accept, as the
alternative, pounds, which is somewhat smaller than in other re¬
the President’s plan for Federal incorporation, \diich cent
months, the decrease being presumably due to
would give the General Government control over every¬ the
interruption to smelting and mining operations
thing.^ We discuss the Federal incorporation scheme in a occasioned by the switchmen’s strike on the North¬
separate article on a subsequent page. Very naturally western roads. The deliveries in December were 69,the question is being asked, Where is all this to end?
519,501 pounds for domestic consumption and 59,540,570 pounds for export, or 129,066,071 pounds together.
There have also been some unfavorable returns of
Taking the twelve months of the calendar year for
raUrpad earnings this week. The Great Northern Ry. study, it readily, appears that the trouble in the cop-
jan; is
lttitfr}
THE CHRONICLE
trade has not been with the consumption, but with
an excessive production.
The output of refined cop¬
per during 1909 was far in excess of the largest previous
total.
According to the Copper Producers’ Associa¬
tion, the production of marketable copper in the United
States from all domestic and foreign sources during the
year reached no less than 1,405,403,056 pounds. This
compares with an output of only 1,161,176,085 pounds
in the calendar year 1908, showing an augmentation of
244 million pounds, or over 20%.
The deliveries for
domestic consumption also far surpassed the best
previous total, aggregating no less than 705,051,591
pounds. The largest previous consumption was 682,000,000 pounds, in 1906. Perhaps it is open to ques¬
tion if all these deliveries may be taken as reflecting
actual consumption, since it is well known that there
has been tremendous speculation in the metal, there
having been extensive purchasing and holding of
copper during the last two years by persons who had
never previously made ventures in
copper. The al¬
lurement was the low price of the metal, which hov¬
ered around 13 cents throughout the year. The ex¬
ports also were on a prodigious scale, even exceeding
those for 1908—the total being 680,942,620 pounds,
as against 661,876,127
pounds.
In face of these large exports and the large domestic
deliveries, stocks of marketable copper in the United
States during the calendar year 1909 increased by
19,408,845 pounds, rising from 122,357,266 pounds to
141,766,111 pounds. But a still greater element of
depression has been the augmentation in the foreign
visible supply. This was already of unusual extent
when the year 1909 opened, being then 124,716,480
pounds. The beginning of 1910 sees the amount up to
the prodigious figure of 244,209,280 pounds, an addiper
t on
for the twelve months
pounds.
o: no
less than 119,492,800
Thus the combined foreign and domestic
additions for the year have been 138,901,645 pounds.
It seems to be thought that the domestic stocks ot
be expected to fall off, at least during
January and February. This feeling is based on the
idea that production will not be maintained at a full
level, more particularly as the railway switchmen’s
copper may now
strike
on
the Northwestern roads has served
135
The report of the Census Bureau on the amount
of cotton of the 1909 crop ginned to January 1,
issued
Monday, tended to confirm the opinion that the
Agricultural Department’s estimate of yield, made
public in December, is too low and will eventually
on
under the season’s actual pro¬
report makes the amount ginned
9,646,285 running bales, which at the average weight
of the portion of the crop marketed to the close of
prove
to be well
duction.
The
December—509.52 lbs.—would give a gross weight
of 4,914,975,133 lbs.
As the Department’s estimate,
which,
with the ginning reports, excludes linters,
was for a crop of 10,088,000 bales of 500 lbs.
gross
weight each, or 5,044,000,000 lbs., it will be seen that
only about 250,000 bales of 500 lbs. gross each re¬
mained to be ginned after January 1 if the estimate isnot to be exceeded.
Last year there was ginned
after January 1 some 620,707 bales, in the preceding
year the ginning during the same period amounted to
1,106,317 bales and in 1907 to 1,242,162 bales.
It is, however, the details of this latest
ginning
report that attract attention, as they indicate that in
a number of States the
Department of Agriculture’s
estimate has already been exceeded. In the State
of Georgia, for instance, the
Department’s estimate
was for 1,800,000 bales of 500 lbs.
gross each, but
there has already been ginned 1,812,994 bales of a
greater average weight. South Carolina returns also
show more bales ginned to January 1 than the estimate
called for, and, allowing for the excess over 500
lbs.,
Alabama and Mississippi likewise are
already above
the Department’s figures.
In fact, if the December
estimate is not to be materially exceeded, little or no
cotton remains to come from any States
except Texas
and Oklahoma. Following the announcement of the
ginning figures'on the floor of the local cotton exchange
a marked decline in
prices occurred, for which the
growing conviction (based on these latest returns)
that the crop has been largely under-estimated was
probably in part responsible. But even after the
decline prices continue much above a level that any
known conditions of supply and demand would seem
to justify.
as
some¬
what to restrict output in Montana.
Granting that
this may be so, the large foreign visible supply will
_
•
The Public Service Commission of this State is still
reaching out for more power. An outline of its annual
in report has been furnished this week, and it is in the
sight is really of prodigious extent. The domestic main a plea for added authority and functions. But
and foreign stocks as enumerated above aggregate note what powers it is
already exercising, and how. 11
385,975,391 pounds.
Moreover, a short time since appears from a printed document received Monday
the “Boston News Bureau” reported that there was that on Dec. 24 the Commission for this district
an invisible
surplus on the other side of the Atlantic directed service upon every railroad corporation
of fully 100,000,000 pounds.
Then there is blister owning, leasing or operating a line lying wholly within
copper and material in process of refining, reported a this First District of an order commanding filing
year ago by the United States Geological Survey at within thirty days sworn copies of a most formidable list
234,013,843 pounds (and presumably there is no great of books, records and documents of every character
change in this item from time to [time), making alto¬ and description. The subjects upon which information
gether no less than]720,000,000 pounds [of copper in is demanded number no less than 17. It would be
sight. In"addition, there is, as already indicated, a tedious to specify them all, but we mention some, to
large amount of copper speculatively held in this give a fair idea of their tenor and sweep: Certificates
country, and which any substantial advance in price of incorporation, by-laws in force, transcripts covering
would quickly dislodge. Possibly a slow improvement changes in
capitfl stock and authorization of mort¬
in the quotation of the metal
may be in prospect, but gages or other issues, consents of local authorities as
any very large rise would seem to be out of the ques¬ to various specified matters, agreements with such
tion in the immediate future, in view of these large ac¬ authorities and permits
given, applications and orders
cumulations of the metal
concerning changesof motive power, leases affeeting
franchises, including specifically all madedby predecesstill remain
an
incubus.
The amount of copper
136
THE CHRONICLE
companies; all traffic and trackage agreements, in¬
cluding those which concern removal of ashes or other
refuse; all agreements with terminal or warehouse com¬
panies, all court decisions in which they or their
predecessor companies were parties, all deeds and
mortgages, all instruments by which they or the
predecessor companies acquired title to any piece of
realty now owned or controlled.
The above is a part, and sworn copies of each “book,
record, contract, document and paper” are demanded.
The first thought suggested is that this is probably
meant for a general fishing excursion in the hope that
something may be discovered that may be used as a
peg upon which some trouble may be made for the
companies. Or, if this is not the object, it may be
only in compliance with the necessity resting upon
this Commission, in common with labor agitators, to
make periodical disturbance in order to seem to justify
their own existence and retain their “jobs.” Behind
such demands as this stands the organizing law, which
requires (Art. III., Sec. 56,) every common carrier to
obey “every order made by the Commission” under a
$5,000 penalty, every day's continuance in refusal
to be deemed a separate offence.
In view of the sweep
of this order, we do not exaggerate in pronouncing
compliance within thirty days a physical impossibility,
although it may not have required more than a couple
sor
[VOL.
LXXXX.
nations to turn their attention to
Washington, not
always with approval, as is not unnatural when inno¬
vations are attempted in a sphere strictly bound to
traditions and precedents.
There is nevertheless a
growing conviction that the various steps taken have
been prompted with a single desire to propagate that
peace so essential to the growth of trade.
Our State
Department's vigorous action in the Nicaraguan revo¬
lution
was
inspired by this desire for
manent peace
a more per¬
than'was attainable under the tyrant
Zelaya, and althought the terms of Secretary Knox's
pronunciamento were not in keeping with ordinary
diplomatic documents, the results have in the main
been satisfactory. The incident, viewed in conjunc¬
tion with declarations by President Taft on the Monroe
Doctrine, leaves no room to doubt the determination
of the United States Government to work for the
establishment
of
greater stability and tranquillity
among the various States of South and Central Amer¬
ica.-
Another manifestation of
our
Government's earnest¬
in
seeking to promote international amity, and
one of the highest aims of those who founded
the country and framed our Constitution, is afforded
by Secretary Knox's efforts to induce the Powers to
co-operate in forming a permanent Court of Arbitra¬
tion at The Hague.
At present no tribunal of this
of hours to frame the resolution and the five Commis¬ character exists; there is only a prize court, whose
functions are limited to war periods. The advantages
sioners could adopt it in five minutes.
of
a permanent Court,
The cost of furnishing sworn copies of pretty much
composed of jurists of inter¬
everything ever done by the existing companies or national eminence, have been impressed upon other
their predecessors we forbear to estimate, but one nations by 6ur State Department, but the proposal has
thing is plain: railroads have to face present and pros¬ not been immediately endorsed. The matter is
pective demands by their employees for higher wages believed to be receiving the most careful deliberation
and also easier work, while it is undeniable that the at the hands of the Powers to whom the circular note
cost of construction and supplies has also risen.
On was addressed, and a favorable outcome, though by
the other hand, the public does not view with com¬ no means assured, is not despaired of, notwithstanding
placency any suggestion of higher rates, but is keenly the reluctance of certain naval Powers to forego in
desirous of getting ampler and more agreeable service, any way their right to prepare for warfare. The
at even reduced rates.
There is thus a deep ditch crushing burdens imposed by socialistic legislation are,
on each side of the
way along which the common fortunately or unfortunately, rendering it more and
carrier must pass.
Is it not, therefore, plain to the more difficult for the leading nations of Europe to
youngest schoolboy (or would it not be plain to him maintain the present vicious pace in building arma¬
if his opinion were sought) that to pile useless and ments; hence, there may develop, through necessity if
harassing expenses upon the carrier, on pretense of not through choice, a disposition to take advantage
of every available means of insuring the peaceful settle¬
regulating him, is more than ill-timed?
As already stated, the Commissioners in their annual ment of the minor disputes that inevitably arise from
report voice their desire for more and more enlargement time to time between progressive countries.
of powers.
They think it the intent of the Legislature
to make them “an administrative body, with power to
It has seemed to us desirable to recount the above
prescribe rates,” and so on, but the courts take other diplomatic developments as a prelude to a brief recital
Therefore these unsatisfied five men want of the latest important step taken on behalf of the
views.
their own interpretation expressed in more law, so United States Government by Secretary Knox,
namely
that their control may be absolute. Two questions the presentation to the Powers of a memorandum
suggest themselves: Would the present owners of recommending what has been tersely described as the
railway properties in this State have invested their neutralization of the railroads in Manchuria. The
money thus, with the knowledge or the forecast that text of the communication has not been given out at
control was to be taken from them and handed over Washington, but an authoritative report states that it
to five political appointees? Supposing it continues contained two separate proposals: first, China's re¬
to be the fact that control is divested from ownership, purchase of the Manchurian roads through the means
what will be the natural effect upon investors hence¬ of an international financial syndicate; and, second,
forth? Is it advisable upon the whole to make this international support for the construction of the
treatment of private property “the established policy Chin-chow-fu—TsitsiharRR.
Moreover, the principle
of the State,” as Gov. Hughes incidentally calls it?
enunciated, it is added, was endorsed by Great Britain
ness
thus fulfill
and China before formal action
Philander C.
evolving
a
Knox,
Secretary of State, is
brand of diplomacy that is causing other
our
was
taken;
*
Naturally, the overtures have been differently re¬
countries, although the good faith
ceived in different
JAN. 15
the chronicle
1910.]
and purpose of America are generally recognized.
The arrangement, it is conceded, would be strictly in
harmony with this country's consistent advocacy of
the “open door” in the Orient, but certain foreign
newspapers
hint that the ulterior motive of our
Government is to
secure
Chinese affairs*
as
so
a
dominating influence in
to facilitate the distribution of
against $960,000,000 in
1908, a decrease of $50,000,000. Butin 1907 the aggre¬
gate was under $620,000,000, in 1906 it was only $600,000,000 and even in 1905, which marked the previous
high-water mark in borrowing, the total was $75,000,000 below 1909, or $835,000,000.
During the year
just entered several large loans will be floated to meet
government deficits. Railroad demands should not be
excessively onerous inasmuch as advantage was freely
round figures, $910,000,000,
goods in the great markets of China and
On the other hand, it has been pointed
out that the continued operation of the Manchurian taken of the attractive terms available in 1908; in
railroads by Japan and Russia could not fail to give that year British railways raised more than $60,000,000
rise to endless friction, a contention that is strength¬ capital, contrasted with the insignificant sum of
ened by the events of 1909, when, it will be remem¬ $2,000,000 last year, while foreign railways applied for
bered, complaints were rife that Japan was practicing $215,000,000, against less than $155,000,000 in 1909.
American
Manchuria.
undue discrimination in the administration of affairs in
that part of the world. Consequently, the avowal of
the United States that its course has been inspired by
the*Paris market last year new
issues to the amount of $735,000,000, the largest
There
were
listed
total in modern
on
times, with the exception of 1906,
highest motives is reasonable and in strict conson¬ when the figure reached $765,000,000. In addition
to this official record, mention should be made of fully
ance with the facts.
Official information is lacking as to how the various $155,600,000 new issues of various descriptions ad¬
foreign governments have received Secretary Knox's mitted to the coulisse, of which the United States has
the
proposals. The public have been dependent upon
press despatches for enlightenment on this point and,
as not infrequently happens, contradictory statements
have appeared. * It would seem tolerably certain, how¬
ever, that Great Britain is heartily in accord with the
projected international syndicate. * France’s attitude
has been semi-officially defined as follows:
“France has no political interest in the question
except to remain loyal to her ally, Russia, and to do
nothing which might offend Great Britain and Japan.
When those three Powers have reached an agreement,
France will follow in their wake. If, later, an inter¬
national financial syndicate is formed, France will par¬
during the last nine months. A large
proportion of the 1909 loans floated in France last
The French money
year consisted of Russian bonds.
market is at present preparing to finance a number of
important loans, including one of $100,000,000 for
Hungary, The Paris municipality a fortnight ago
received authority to issue a loan of $180,000,000.
heard
so
much
Germany has involved exten¬
demands for capital. This borrowing will in all
The revival of trade in
sive
probability continue on a heavy scale in 1910. Fur¬
thermore, the Imperial Government's ambitious pro¬
ticipate upon the condition that she is afforded a gram, entailing repeated annual deficits, will again
basis of absolute equality with the most favored call for a. large amount of borrowed funds. Money
nation.”
rates in Germany have ruled persistently higher than
The Russian Minister of Finance, M. Kokovsoff, is in France or Great Britain and the indications are that
unofficially represented as having favored some sort although the Reichsbank's official minimum of 5%
of international arrangement for the East Chinese will be lowered in the very near future, money will con¬
RR., but so far no definite statement has come from tinue to be worth more than the average of recent
the Czar's Government. Japan is observing character¬ years. This week's disparity between the Berlin and
istic Oriental reticence, but from all that is heard and the London private discounts, in favor of the former, was
surmised, opposition may be offered from that quarter. wholly due to the political crisis in Great Britain. The
This opposition, it is conjectured, may take the form average open market rate for the best three months'
of a counter proposition to embody all the railroads in bills in London during the second half of 1909 was
the Chinese Empire. However, mere guessing on this 2 2-3%; the average Bank rate was3J^%.
point can serve no useful purpose; events must be
The third Parliament of King Edward's reign will
awaited.
Germany's reception of the scheme is
friendly, according to.a semi-official announcement; it meet, according to a proclamation issued this week,
states that Germany’s answer “will be in the same on Feb. 15, the second Parliament having been dis¬
sense as
England's.” China, like Japan, is main¬ solved on Monday last. The representation at the
taining diplomatic silence; a report that the proposal close consisted of 364 liberals, 168 unionists, 83 na¬
had been rejected was denied later in the week, and it tionals and 55 labor members.
Despite the over¬
may be assumed that our Government had China's whelming majority of the late government, great uncer¬
assent to the proposal before action was instituted.
tainty now prevails concerning the outcome of the elec¬
The whole matter is in the embryonic stage and nec¬ tion, which will begin in earnest with polling in some
essarily much time will be consumed before a working seventy constituencies to-day. How sentiment has
veered round in favor of the unionists may be gathered
plan can be consummated.
from the fact that, whereas originally the betting odds
New capital issues in London, according to the most were 3 to 1 that the liberals would win, the figures are
trustworthy returns available, were greater in 1909 now even. The tariff reform party has been reinforced
than in any former year on record, with the sole since the New Year by numbers of prominent members
exception of 1908, which was, of course, a period of of Parliament who formerly were committed to a freeabnormally cheap money, and therefore conducive to trade policy.
Much has been made by the unionists of the large
heavy applications for capital. Last year's grand
total, which includes governmental, municipal, foreign, numbers of unemp oyed throughout Great Britain,
colonial and home loans of all descriptions, reached, in and for comparative purposes the condition of labor in
138
THE CHRONICLE
the United States has been
ently with, telling results.
’Chamberlain
are
keenly discussed,
appar¬
The adherents of Joseph
indeed,
at
a
good deal of business
was
[VOL.
LXXXX.
done
yesterday
4J*%.
vociferously claiming that protection
The German Government
for lack of employment; to this John
having taken up consid¬
Bums, President of the Local Government Board, eration of a bill which aims at the forming of a com¬
replies that nearly all wars not caused by religion have prehensive potash syndicate, to control the output
and sale of that
been brought on by disputes over
commodity, our Government has in¬
tariffs; and he fears
that a tax on timber
formed
the
German
Foreign Office that such a measure,
“might lead to war with the
United States.” Incidentally, Mr. Chamberlain was if enacted by the Reichstag, would be construed as an
act of discrimination
returned yesterday (unopposed) for
against American interests, and
Birmingham West,
while Arthur J. Balfour is certain to beat his eleventh- therefore rendering Germany liable to the “maximum
clause” (Section II.) of the
hour opponent, Sir Hugh Bell,in the
Payne Tariff Law. The
City of London,
where the polling will take
question
is
extremely complicated. Certain contracts
place to-day. Winston
Churchill's belated announcement of a brand new now in existence with Americans would be affected
s
a
panacea
by
scheme of insurance
against lack of employment,
affecting, it is said, “more than 2,250,000 adult
workers,” and to be “carried on in conjunction with
150 labor exchanges shortly to be
opened” has been
accepted as a maneuver to play a trump card at the
'end of the campaign,
although it would really seem
ffchat the liberals have given some
plan of this kind
consideration. Fundamental conditions are so sound
that no serious alarm need be entertained whatever
the
voting
may
the proposed measure, and unless some method be
devised to obviate a breach of these
agreements, our
Government may resort to the
tariff
reprisals
em-
averting
war
a
that could
bring nothing but harm to the
foreign trade of the United States as well as Germany.
| We sell to Germany almost twice as much merchandise
as
disclose.
extreme
bod'ed in the section referred
to; but the exercise of
common sense and reasonable
conciliation by both
sides to the controversy should succeed in
Germany sells to
Discount
us.
rates abroad have
again moved downwards
improvement has been recorded this week at all
week.
foreign
cities
this
In London the charge
in the banking position at
all the principal European for
discounting 60 and 90-day bills is now 3Ys%) at
centers, while at home there has been a steady de¬
the fortnightly settlement on the Stock
cline in call money rates until
Exchange the
to-day they are back
contango rate on American stocks ranged at 5@5J^%
nearly to a normal level, a fact that is not surprising
and on others about 4^%, a substantial reduction
in view of the
strengthening of reserves recorded last from the
quotations at the final settlement of last
Saturday and the further influx from the interior this
year.
Paris
the rate has declined to 2)4% Berlin
At
week. The relaxing of the New Year tension has been
quoted 3% earlier in the week, but yesterday the
most pronounced at the
point where the strain was
greatest—Berlin. The weekly‘[statement of the Im¬ charge was 3J^%. Frankfort reports 3J4@3^%.
Amsterdam has felt the effects of easier
money, the
perial Bank, disclosing an increase in cash on hand of
discount rate there having fallen to
2%@2}^%.
$18,900,000, a reduction in note circulation of $61,There were no changes in official bank rates
during
500,000 and a curtailment of $100,000,000 in loans
the week.
According to our special cable from Lon¬
and discounts, foreshadows an
early change in the don,
the Bank of England gained £1,047,145 bullion
official rate of 5%,
especially as private discounts
during the week and held £34,750,988 at the close of,
fell this week to a minimum of
3%; the declaration of the week. Our
correspondent further advises us that
a 4% rate on
Monday next would be in accordance with the
gain was due mainly to receipts from the interior
expectations. The Bank of France, while not able
of Great Britain, exports
to record more than a nominal
largely exceeding imports.
gain ($135,000) in gold,
Marked
•
has reduced its liabilities
very
lation having decreased
materially, note circu¬
The details of the movement into and out of the Bank
were as follows:
Imports, £180,000 (of which £12,000
from France, £7,000 from Australia and
$17,000,000, bills discounted
£161,000
$23,200,000 and general deposits $11,500,000; in
in
the
bought
open
market);
exports, £825,000 (of
Paris, as in Berlin, the open market rate has declined,
which £260,000 to South America,
to 2J^%, after
£515,000 to the
having long remained stationary at
Continent,
£40,000
ear-marked
Straits
Settlements
%%%, or *4 of 1% below the Bank rate. The Bank
and
£10,000 to various destinations); and receipts of
of England, as is shown in greater detail in our
special £1,692,000 net from the interior of Great
Britain.
cable from London, has this week
greatly improved
its condition, having raised its
proportion of reserve
In the local money market the
daily fluctuations in
to liabilities from 39.41% to
47.54%, which is larger call funds again attracted chief attention. The ten¬
than usual at this
season, notwithstanding the ex¬ dency was
steadily downwards throughout the week.
traordinary demands that have been levied upon the Thus, on
Monday 6% was quoted, with b)4% the
Bank by the British
Treasury in consequence of the ruling rate; on Tuesday 5)4% was the maximum and
Budget having failed to pass; there also the rate for
534% the prevailing quotation; on Wednesday 5%
bills has weakened, to 3)4%, a
figure that would under was the high and ruling rate, while 3% was
quoted
QOrmal circumstances portend an
early reduction of before the close, and on Thursday the top was 4J^%
the official minimum to 3}^%.
At New York the and 4% the ruling figure. On
Friday the range was
average rate for call funds this week has been under
5%, 3)4% to 4%, the renewal rate falling to 3)4%, the
against 7% last week, while on Thursday and yester¬ lowest
ruling rate for any day this year. The av¬
day even the maximum quotations did not reach the
erage rate for the week was a shade under 5%,
week's average. T.me accommodation has also
tended or 2% below the
corresponding quotation of the
lower during the last two days, lenders
being inclined first week in January.
Time
to
grant concessions from the former minimum of
4J^%;
the
easiness
in
the caff
money resisted
division until the latter
JAW. 151910.
THE CHRONICLE
Whereas 4% @4%% had been may, it is hoped, prove portentous of a resumption of
rfegulariy named for 60 and 90-day loans, with 4%% exports of the staple. Unless offerings of remittance
bid for longer maturities, on Thursday loans for all increase or Europeans, because of the British election
these periods could be obtained at 4%% and occasion¬ result or other influences, become extensive purchasers
ally at 4%%. On Friday 4%% was not infrequently of our securities, it is not easy to foresee how afi ohtftbW
the figure agreed upon. Some business has been done in of gold can be prevented. This week orily small ship¬
30-day loans at 4%%. Another feature has been a con¬ ments occurred, a total of $400,000 going to Mexico.
part of the week.
borrowing, referred to last week, on in¬
active and all-industrial collateral at % of 1% above
the usual quotations; several important transactions of
this class have been negotiated for influential interests,
the money having been supplied mostly by trust com¬
panies. June and July maturities are wanted by
nearly all borrowers.
Commercial paper is being drawn in fairly large
quantities, although the absorption has expanded
sufficiently to keep down rates. The choicest grades
of four to six months' single names are quoted 4%@
o%, but nearly all the business for local account is
done at 4%%.
Less attractive bills range from 5 to
o%%. Sixty to 90 days endorsed bills receivable are
quoted 4% @5%, with few on offer. The demand for
tinuance of the
Compared with Friday of last week, sterling ex¬
change on Saturday closed lower, at 4 8375@4 8385
for 60 days, 4 8660@4 8670 for demand and 4 8710@
4 8715 for cable transfers.
On Monday long sterling
advanced 10 points, demand was firm, but cable trans¬
fers weakened 10 points, only 4 87 being bid.
On
Tuesday 60 days fell to 4 83%, demand closed at
4 86% and cable transfers at 4 8710@4 8720.
Higher
quotations prevailed on Wednesdayt long sterling
closing at 4 83%, demand at 4 8675@4 8680 and cable
transfers at 4 8725 bid. On Thursday the tendency
was again upwards, rates being 4 8390@4 84 for 60
days, 4 8685@4 8690 for demand and 4 8725@4 8730
for cable transfers.
On Friday rates were firm at the
paper has come chiefly from New York, from New previous day’s range for to-day's steamer, although
England, from Philadelphia and Chicago. Now that %c. higher is being paid for next Wednesday's mail.
The following shows the daily posted rates for sterling
the monetary conditions are getting back to normal, a
better inquiry for paper will be in order.
exchange by some of the leading drawers:
Fri.,
Wed., Tbvrs.,
11, Jam. 12. Jan. 13.
Tues.,
Mon.,
7. fail. 10. Jan.
Jan.
Fri.,
Jan. 14.
foreign exchange the undertone is again so strong Brown
84 X
84 X *
84 X
84%
84 X
/ 60 days 4 84 %
87 X
87 X
87 X
87 X
87X
Bros. & Co
\ Sight-- 4 87X
as to suggest a continuance of the recovery, despite
84 X
84 X
84%
84X
i60 dayB 4 84X
Kidder, Pea,84%
87 X
87 X
87 X
87 X
87 X
—\SIght-. 4 87 X
body & Co
the tactics of certain large brokers and at least one Bank
4
85
84
84X
84X
84%
84X
X
of British
J60 days
i
87 X
87 X
87X 1
87X
87%
North America. —1 Sight.. 4 88
84 X
84%
bank, who find themselves once again in an uncom¬ Bank of
85
84X
84X
/ 60 days 4 85
87 X
87 X
87%
87X '
8TX
of Montreal
\Sight-- 4 87^
fortable position, on the short side this time.
84 X
84%
84X
84X
84X
Bank
J 60 days 4 84 H
Among Canadian
87
87X
87 X i
X »
87X
%7X
of Commerce— —\Sight-. 4 87^
84 X
84
84
4
84
X
X
84X
X
i 60 days
84H
Ickelresponsible, conservative bankers engaged in conduct¬ Heidelbach,
87
4
87%
87X
87
87
X
i
X
helmer & Co.
87X
X
\ Sight-84 X
84 X
84 X
84 X
84 X
J60 days 4 84^
ing a strictly legitimate foreign-exchange business, Lazard
87 X
87X
87 X
87%
87%
Freres
\ Sight.. 4 87 X
84 X
84%
84X
84%
84%
/60 days 4 84X
the constant and violent manipulation of quotations Merchants' Bank
87 X
87%
87%
of Canada
87%
87%
\ Sight.. 4 87X
is severely condemned.
Of course brokers, being
The market closed on Friday at 4 84@4 8410 for
private agents, and accountable only to themselves 60
days, 4 8685@4 8690 for demand and 4 8725@
or the clients who employ them, can behave erratically
4 8730 for cables.
Commercial on banks was quoted
with impunity—save, perhaps, as affecting their at 4 8370@4 8380 and documents for payment at
standing—but a very different view is being taken of 4 82% @4 83%. Cotton for payment ranged from
the operations of certain banking people; indeed, the 4 82% to 4 83 and grain for pavment from 4 83% to
4 83%.
matter is attracting very great attention in exchange
circles, where its propriety is seriously questioned.
The following gives the week’s movement of money
These comments will serve to explain the apparently
to and from the interior by the New York banks.
senseless gyrations in sterling from one moment to the
Net Interior
Received by
Shipped by
Movement.
X. Y. Banks. X. Y. Banks.
Week ending January 14 1910.
next.
Rates, temporarily, are more or less at the
519,034,000
$4,516,000 Gain 514.518.000
mercy of these powerful speculators. However, the best Currency
2,141,000
906,000 Gain
3.047,000
Gold
opinion is that the campaign will shortly be abandoned.
Total gold and legal tenders—
$5,422,000 Gain 516,659,000
$22,081,000
Supplies of remittance, both commercial and bank¬
With the Sub-Treasury operations and gold exports
ing, are still scarce. As bearing on this situati n, the result is as follows.
the December statistics of the leading articles of ex¬
In
—
’
•
—
•
—.
—
,
—
—
>
.
They show a total,
in face of exorbitant prices, of only $88,299,085,
against $114,555,791 a year ago and $126,037,197
ports are peculiarly interesting.
Week ending
January 14 1910.
Banks’ interior movement, as above.
Sub-Treas. oper. and gold exports..
Total geld and
legal tenders
in the final month of
(Hunt
Into
Banks.
Bants.
Net
Change in
Sank Holdings.
522,081.000
35.400.000
55.422.000 Gain tl6.659.600
34.000.000 Gain
1.4P0.000
557.481,00q
539.422.000 Gam 518,069.000
1907, when, it should be ex¬
The
plained, merchandise was hurried to Europe to pay in the following table indicates the amount <of bullion
^
principal European banks. ........
for the gold then being imported.
For the calendar
Jan. 13 l6l0.
Jm. 14 1909.
year these preliminary Returns give a total of $837,- Banks of
Total.
Stiver.
Gold.
’
Total.
4
Gold.
Stiver. '■
772,846, contrasted with $915,065,439 in 1908 and
.£
£
l
£
£
£
i
'£
31,656,183
England.. 34.750.988
34,750,988 31,656,183
$967,325,047 the year before. Then it is to be re¬ France
189047.820 34,897,360 174.445,180 141,415,429 35,207.83? 176,623,258
membered that imports have been exceptionally heavy Germany 36.533.100 12,699,550 49.232.650 40.550.000 11.060.900 51.610,900
Russia
140,890,000 7,092,000 147.952.000
6,028.000 126.431.000
us.-Hun. 56,456,000 12,517.000 68.973,000 's&n 12,234,000 61.579,000
during the greater part of the last twelve months. ASpain....
16,120 O00 30,734.000 46.854400 15,816.000 32,275.000 48,091.000
38,550,000
4,007000 42.557,000 37,664,000 4,600,000 42,264,000
Furthermore, Argentina's Shipments of grain and Bra¬ ItMy
Neth lands 10.081.000
8.628r6Q0 4,071.400 12,700.000
4,831,338
» 18.058,4^0 i 1,998,000 2,149.000 «,447,000
zil’s exports of coffee to Europe have been an import¬ Nat.Relg.i
4.344.000
Sweden
' 4,468,000
«M68!000 4,344,000
4,710,000
S wltz’land
4,976,000
4,976,000 4^710,000
ant factor, since London has been able to call upon Norway.. 1.777,000
1.703.000
1.703,009
1.777,00(J
568,159,341
New York to remit the necessary gold in settlement Total week 488,481,241 107,059,977 595,541.218 460.533,209 107,626,132
Prev .week
459.647.202 108.049,290 568.296,492
.
■
-
..
.
.
therefor.
This week's radical break in cotton
prices
484,776,176 104,998.687 589,774,863
•
.
I
THE CHRONICLE
one or
-
THE BOSTON ELECTION.
..
another of the main contestants.
regards these other
two
LXXXX.
The result
as
candidates
was somewhat
The municipal election held in Boston last
Tuesday singular. Notwithstanding the fact that each of
has resulted in what is admitted on all hands to be a
them must have received an
original endorsement of
serious disappointment to the forces of
good govern¬ five thousand votes before being placed in nomina¬
ment.
Not in very many years has so resolute an ef¬
tion, the actual polling of this week disclosed for one
fort been made by the best element in the
of
citizenship
them, Mr. Hibbard, only 1,816 votes, and for the
other, Mr. Taylor, only 613.
;
This, to be sure, may be sufficiently explained by
city, first by the the vigorous character of the campaign between Stor¬
thorough organization of the forces of bad government, row and Fitzgerald and
by the traditional unwilling¬
and second by the fact that the
intelligent business ness of an American voter to throw away his vote on a
classes have their
residences, and therefore their vote, candidate whose chance of success he believes to be
so largely outside the
city’s limits. The outcome of the too small for serious consideration. The fact that at
of Boston to shake off the rule of a
ring which, in Bos¬
ton as in so many other cities of the United
States,
has been constantly fastened on the
election
was even more
fact that this
was a
of
a
disappointimnt from the
first election held under the
new
plan of municipal elections granted last year by the
Massachusetts Legislature to Boston.
The candidates in the
vigorous contest which has
just ended were four in number, but the real contest
converged upon two of them—Mr. Fitzgerald, whose
previous official career was not regarded with satis¬
faction, and Mr. Storrow of Lee, Higginson & Co.,
who practically occupied the same
position in the field
as is so often
occupied in the independent movements
at New York by some eminent individual
citizen.
The result of the election was
Fitzgerald’s victory by
a vote of
47*172, as against 45,757 for Storrow. This
result followed a
campaign of intense and continuous
energy, in which the plea for municipal reform was
urged through public addresses, private canvassing,
and literature of all
kinds, with the greatest energy.
The campaign conducted
by Mr. Fitzgerald was of
the familiar sort.
he was attacked,
He made the most of the fact that
least
one
of these
minority candidates was believed to
have been urged to
withdraw, in order to give Mr.
Storrow the benefit of his vote, and to have
flatly re¬
fused to do so, lends some color of
popular theory
It is impossible
result throws
a
as
to the
reason
for
probability to the
nominating them.
to deny, however, that this part of the
somewhat unpleasant light on the
easy
facility for nomination
On the other hand,
party designations on the ballot
were by this same law elimin ted.
This fact makes it
interesting, first, that the contest should really have
converged, after all, on the candidates who would,
under the old order, have been
respectively Republican
and Democratic
candidates, and, second, that the
machine which has repeatedly been victorious in a
Boston
election
carried
the
election
again. It is
possible that the number of candidates brought into
the field through the scheme of
independent nomina¬
tion may have affected the result. That is to
say, Mr^
Storrow’s friends reason that if the Hibbard vote had
been polled for Mr. Storrow, his vote would have ex¬
ceeded that of Fitzgerald. But this would not be safe
reasoning if the vote of the fourth candidate were to
be assumed as transferred to
Fitzgerald, in which case
and appealed to his organization
and to his friends to vindicate him.
A not insignifi¬
cant fact about the matter was that the
press of Bos¬
ton was all but unanimous in
support of Mr. Storrow.
Yet the result was as we have seen.
What is to be said of this
Fitzgerald would still have polled a majority. One
freely predicted of the independent nomination
scheme has certainly not followed. There were
many
critics who asserted that political chaos would
ensue,
with which all cities have been confronted in
the past. and that no one would know either who was
leading in
There are years when the forces of
good government the canvass or who had a chance of being elected at
seem to be
temporarily in the ascendant and there the polls. Boston’s
experience, at any rate, indicates
are years when the forces of
bad government appear that voters take their own
measure of such
probabili¬
to have everything their own
way.
Victory is re¬ ties.
peatedly followed by relapse. One need only look
There will no doubt remain, as a
sequel to this
back at some of our own
municipal campaigns in New election, much doubt and dispute over the merits of
York since the new city
charter, from which so much the independent nomination plan. It is
only fair to
was expected, was
introduced, to see how easily hopes say, however, that there are two sides to this
matter,
founded upon a change in the area of
voting or in the as there are to all similar experiments in new plans of
method of nomination and election
may be disap¬ nomination and voting.
The possible confusion result¬
pointed.
ant on independent and
non-partisan nominations
It is fair to ask, however, whether the new
scheme must be always present; but, on the other
hand, the
of nomination at Boston
may not itself have contrib¬ removal of national
politics as an issue is undoubtedly
uted to the result in the present instance.
The plan, furthered by this and similar
expedients. It is at
adopted at Boston toward the close of last year, was least worth
noticing that in the Boston canvass
somewhat peculiar. In the first
place, no municipal scarcely a word was said on either side
regarding the
nomination was to be made either
by convention or national issues as between Republican and,^Democratic
primary, but each was to be based on petition of at parties,, It would not be wise to
overlook the fact
least five thousand voters. The result of the
petition that this is a consummation toward which political
plan, ii} tlie, present instance, was the putting into the discussion and efforts at
municipal reform have for
fieU|
addjtiop tp the, real
ljnore than t^nee decades been
singular test in the prob¬
lem of municipal government? In the first
place, it
must be confessed that it adds
nothing to the experience
nis^—CQpcej^iipg yr|om it
was
p^pt^o-
rather generally ^ al¬
result
struggling.
j .Again, it,has tp. be remembered that egf$.ppw plan
,such as Boston adopted lagfc year
exjp£riT
mental. Tjus fact merely
5;eipphasizes.j ^- general
,
.
Jan.
THE CHRONICLE
151910.]
principle that reform of municipal politics is itself in
the experimental stage. One test is not sufficient for
any proposition of the sort. But, on the other hand,
thoughtful men in Boston and elsewhere will be wise in
not neglecting such lessons M may be taught by these
first results. Let it be remembered how utterly futile
turned out some of New York's experiments under the
original Greater New York Charter, and how promptly
these particular undertakings, such as the double
Aldermanic Chamber, were abandoned. The best that
can be said, or perhaps the least that can be said, of
experiments like that of Boston, even when they
manifestly turn out to the disappointment of good
citizens, is that the outcome, taking one season with
But if
further than that—“if they attempt by
preponderating capital and by a sale
of their goods temporarily at unduly low prices
to drive out of business their competitors, or if they
attempt by exclusive contracts with their patrons and
threats of non-dealing except upon such contracts, or
by other methods of a similar character, to use the
largeness of their resources and the extent of their
output compared with the total output as a means
of compelling custom and frightening off competition,
then they disclose a purpose to restrain trade and to
establish a monopoly and violate the Act."
It is after making this declaration that he announces
a
use
they
go
of their
there is to be
no
relaxation in the efforts to
prosecute
another, could not be worse than the outcome under the violations of the Anti-Trust Law. Not only that, but
old and strictly partisan system of nomination and the widest search is to be made to discover violations
election.
of the law.
so
THE PRESIDENTS PROPOSAL REGARDING
THE ANTI-TRUST LAW.
by President Taft in
his special message of last week with regard to adapting
the Sherman Anti-Trust Law to modern-day require¬
ments do not improve on study and reflection. Among
the politicians there are some who affect to believe
that Mr. Taft is leaning towards conservatism and
would like to be rid of the policies which Mr. Roosevelt
so strenuously advocated.
The truth is, the Presi¬
dent's views appear to be even more thorough-going,
and his proposals more drastic, than those urged by
Mr. Roosevelt. In the recommendations bearing on
railway regulation and control (which we discussed
at length last week) some qualifying passages are
found which could hardly have been expected in any
discussion of the subject by Mr. Roosevelt, since
the latter lacks the judicial poise possessed by Mr.
Taft, but in the matter of the control of the concerns
engaged in inter-State trade it is difficult to see how
even Mr. Roosevelt could have mapped out a more
comprehensive or more radical scheme.
There has been a great drop in security values the
last two weeks, and it is obvious that such a tremen¬
dous shrinkage cannot be attributed to some mere
trivial cause. Only an all-controlling influence like
the President's proposal regarding railway regulation
and his further proposal regarding the Anti-Trust
Statute can furnish adequate explanation for such a
general and serious collapse. We dealt last week with
the scheme for railroad regulation, and in the present
article shall confine ourselves entirely to what the
President says concerning anti-trust legislation. In
the first place, the President announces the determina¬
tion of the Administration to enter upon further trust
prosecutions. A good part of the message is devoted
to an attempt to demonstrate that the Anti-Trust
Law, rightly construed, is not such a damaging or
destructive statute after all. “It is possible," he
says, “for the owners of a business of manufacturing
and selling useful articles of merchandise so to conduct
their business
as
not to violate the inhibitions of the
Anti-Trust Law and yet to secure to themselves the
benefit of the economies of management and of pro¬
duction due to the concentration under one control
large capital and
many plants. If
other inducement than the constant low
of
broad and
they use no
price of their
language employed on that point is
unqualified as to leave no doubt that the
President is both sincere and candid in his statement.
Here
The recommendations made
The
his remarks
bearing on the matter: “It is
duty and the purpose of the Executive to direct
an investigation by the Department of Justice, through
the Grand Jury or otherwise, into the history, organi¬
zation and purposes of all industrial companies with
respect to which there is any reasonable ground for
suspicion that they have been organized for a purpose,
and are conducting btsiness on a plan, which is in
are
the
violation of the Anti-'Drust Law."
“The work is
He admits that
heavy one, but it is not beyond the
power of the Department of Justice, if sufficient funds
are furnished to carry on
the investigations and to
pay the counsel engaged in the work."
But will not all this prove highly disturbing? The
President takes pains to point out that it would, and
he uses that very fact as an argument in favor of his
scheme for the Federal incorporation of corporations to
engage in* trade and commerce. The part of the
message indicating Mr. Taft's appreciation of the
dangers involved in such further trust prosecutions is
expressed in language as follows. We put some of
the words in italic in order to emphasize them. “But
such an investigation and possible prosecution of cor¬
porations whose prosperity or destruction affects the
comfort not only of stockholders but of millions of
wage-earners, employees and associated tradesmen,
must necessarily tend to disturb the confidence of the
business community, to dry up the now flowing sources
of capital from its places of hoarding, and produce a
halt in our present prosperity that will cause suffering
and strained circumstances among the innocent many for
the faults of the guilty few”
Having thus indicated in unmistakable language the
serious consequences that are to follow from the
Administration's unswerving purpose to continue the
work of “trust-busting," Mr Taft thereupon unfolds
his plan for a law to provide for Federal incorporation.
He puts his argument in interrogatory form, saying:
“The question which I wish in this message to bring
clearly to the consideration and discussion of Con¬
gress is, whether in order to avoid such a possible
business danger, something cannot be done by which
these business combinations may be offered a means,
without great financial disturbance, of changing the
character, organization and extent of their business
into one 5within the lines of the laW under Federal con¬
a
product and its good quality to attract custom, and trol and supervision, securing compliance with the
their business is a profitable one, they violate no law." Anti-Trust Statute."
a
the chronicle
<
USJX
My ‘i% 'i ■aw wuwni'n,■ ;ijg >.■
F^dersl i^ps^ratiQj*
seems a very
simple
ami if it involved merely the taking out of
process
Federal
we imagine that Federal in¬
quickly become the popular
a
charter and nothing else,
The President
has
bit of misgiving, nevertheless, in
direction. How far, as incidental to the carrying
on of inter-State
commerce, it may be within the
power of the Federal Government to authorise the
manufacture of goods is, perhaps, he says, more open
to discussion, though a recent decision of the
Supreme
Court, he declares, would seem to answer the question
a
one
corporation ^fould
fad. But note the conditions that are to be im¬
posed. The President's recommendation is for “the
enactment by Congress of a general law providing for
the formation of corporations to
engage in trade and in the affirmative.
commerce among the States and with
The very point here made discloses the weakness
foreign nations,
protecting them from undue interference by the and vulnerability of the whole scheme. The
corpora¬
States and regulating their activities so as to prevent the tions whose affairs
the President would regulate,
recurrence yonder
national auspices of those abuses which supervise and control in the most
thoroughgoing
have arisen under State control." Mr. Taft then goes fashion are
engaged in the manufacture and produc¬
on to
say that “such a law should provide for the issue tion of goods and commodities.
While thus engaged
of stock of such
corporations to an amount equal only in manufacturing and producing, they are
carrying on
to the cash paid in on the stock; and if the stock their
operations wholly within the State, and hence
be issued for property, then at a fair valuation, ascer¬
subject to State regulation alone. It is only when
tained under approval and supervision of Federal the
process of manufacturing and producing has been
authority, after a full and complete disclosure of all the completed and the goods and commodities are sent
facts pertaining to the value of such property and the by means of transportation lines into other States
interest therein of the persons to whom it is proposed for
sale,that it can be claimed by any stretch of the
to issue stock in payment of such
property." Such imagination that they are engaged in inter-State com¬
a law should
also, it is stated, “require such corporations merce. The transportation lines, it is well
settled,
to file full and complete
reports of their operations are subject to Federal regulation, though not unre¬
with the Department of Commerce and Labor at stricted
regulation even here. Can the Federal Gov¬
regular intervals." Furthermore, “corporations or¬ ernment go further and encroach
upon the rights of the
ganized under this Act should be prohibited from States to the extent of
taking away from the latter
acquiring and holding stock in other corporations the right to regulate and supervise
the business of
(except for special reasons upon approval by the manufacturing carried on within their borders? Under
proper Federal authority), thus avoiding the creation the bill which Mr. Taft has had
prepared a company
under national auspices of the holding company with with a Federal
charter could not even be sued in the
subordinate corporations in different States, which has State courts.
been such an effective agency in the creation of the
But supposing there were no constitutional doubt
great trusts and monopolies." We notice, however, whatever, think what it would mean for the Federal
.
that in the draft of the bill which Mr. Taft has had
prepared to carry out his ideas, it is distinctly provided
that a company incorporated under Federal laws
may
hold a majority interest in companies organized
under
State laws.
The President's purpose all the time is to preserve
the Anti-Trust Act, not to repeal it or amend it. For
he says: “If the prohibition of the Anti-Trust Act
against combinations in restraint of trade is to be
effectually enforced, it is essential that the National
Government shall provide for the creation of national
corporations to carry on a legitimate business through¬
out the United States."
But have the
States, through the United States
Constitution, conferred upon Congress and the Federal
Government the power to do all this? In other
words, would the proposed law be constitutional?
The President is clear in his own mind on the matter.
He says the regulation of inter-State and
foreign
certainly conferred in the fullest measure
upon Congress, and if for the purpose of securing in
the most thorough manner that kind of
regulation,
Congress shall insist that it may provide and authorize
certain agencies to carry on that
commerce, it would
seem to be within its power.
This, he asserts, has
been distinctly affirmed with respect to railroad com¬
panies doing an inter-State business, and inter-State
bridges. The power of incorporation, we are told,
has been exercised by Congress and upheld
by the
Court
in
Supreme
this regard. Why, then, with
respect to any other form of inter-State commerce like
the sale of goods apross State boundaries and into
foreign commerce may the same power not be asserted?
commerce
is
Government to attempt to regulate the affairs of every
trade, of whatever nature and description, throughout
the length and breadth of the land. The
supervision
and regulation, we have seen, is to be thoroughgoing
and complete.
Some Federal official (the Commis¬
Corporations) is to see to it that no securities
are issued except for actual cash or for
property taken
at its real cash value.
Think what an impossible task
would be imposed upon this official, or even the whole
Department of Commerce and Labor, if charged with
making the necessary investigation and determination
in each individual case.
What an opportunity for the
employment of politics and the display of favors, and
what a limitless chance for fraud, corruption and
iniquity of all kinds. • And at the same time the States
would be shorn of their functions and powers, and
would by degrees lo e control of what was going on
within their borders, so that they might as well be
merged in the General Government. The first step in
the scheme of Federal supervision and control was
sioner of
taken when the Federal
on
Corporation tax
to the tariff bill last summer.
was
tacked
This tax the authori¬
ties at
Washington will now attempt to collect from
every corporation in the country, large or small,
wherever situated, even if not engaged in inter-State
commerce.
Federal incorporation of corporations
would be the next step, and what other
steps might
follow after the Federal Government had taken over
all these State functions and powers no one can tell.
To the
objection that Federal incorporation, with
supervision and regulation, would in-
its attendant
votve
the
tuu
gieub ueiibrauziauoM,
rejoinder that
as
Federal incorporation would
JAS 35
mo.)THE CHRONICLE
a good many corporations would not avail
of it because of the burden which complete Federal
voluntary,
143
for the first quarter of the year at 82 leading cities was
a
gain of 96.6%
as
compared with 1908 and 224%
supervision and control would impose. But this reply contrasted with 1907. During the next quarter
is robbed of force by the fact that the Anti-Trust Law (April to June, inclusive), there was continued ac¬
is not to be amended and that Federal incorporation tivity, particularly in May, and the half-year’s result
would be the only chance of escaping from the effects at the 82 cities was a gain of 66.1% oyer 1908 and an
of the operation of that destructive statute, especially increase of 36% over 1907. Even during the late sum¬
since the President has, as we have seen, announced mer and early fall operations continued well above
his purpose and determination to make extensive 1908; consequently, for the nine months the excess
investigations in order to ferret out possible violations over that year was 52.6% and the gain over 1907
of the daw and punish them. Latest advices from reached 13.9%. With the coming of October, com¬
Washington are to the effect that the President’s pro¬ parison was made with the beginning of the period in
posals are so far-reaching that even some of the most 1908 when the revival set in, and, after the activity of
radical Congressmen are debating whether it would preceding months of 1909, it was not surprising that
be desirable to go to such lengths at the outset.
To in that month, as well as in November, the gains over
us it seems clear that to prevent blight from
spreading the same month of the previous year should have
all over the business community it will be necessary been almost nominal. The closing month of the
to let it be known very quickly that the whole scheme is year (December), however, made a very satisfactory
to be dropped.
comparison with the full figures of the same period of
1908, results at hand from 80 leading cities showing aD
RECORD BUILDING OPERATIONS IN 1909.
excess of close to
15%—the gain in Greater New
A marked impetus was given to building construc¬ York having been over 50%, with Chicago, Newark,
tion in the United States in 1909 by the decidedly im¬ Washington, and a number of smaller cities making
proved and generally satisfactory conditions that pre¬ a very satisfactory exhibit.
vailed in mercantile and financial circles—an impetus
We have, as remarked above, collected returns from
that carried the contemplated outlay under contracts 163 municipalities, located in all sections of the coun¬
entered into in 163 cities to near the 1,000 million try, for the full year; the total outlay contemplated
dollar mark, a total never before even closely ap¬ under the permits issued in 1909 reached $940,984,112,
proached. A further important fact in this situation which contrasts with $686,048,434 in 1908, or an in¬
was that it followed a period of depression and ad¬
crease of 37.2%; compared with 1907, the gain is
verse conditions that threatened serious consequences,
23%, the aggregate then having been $764,758,969.
making a contrast even more marked and interesting The excess over the total of 1906 ($805,551,281) is
than otherwise would have existed.
16.8%. Space does not permit of our going largely
But the United States and its industrial affairs
subject to frequent rebounds. At this point, too,
was a sharp illustration of such a prospect in
current events—a change of policy impending with
the change in the Federal Administration—that
would, it was felt, be more favorable to our industrial
ventures than the previous Administration.
As a preliminary to reviewing the results in the build¬
ing industry in 1909, we would recall to mind that
even before the panic of the fall—in fact, from the
beginning of the year 1907—construction work was
less active than in the preceding year. But with the
occurrence of the panic an important decline was
witnessed and comparative inactivity characterized
the course of affairs quite late in 1908—indeed, until
September of that year, when some revival of building
operations occurred, concurrent with improvement in
general business conditions, while in November and
December operations were of unprecedented propor¬
tions for that time of year. The radical industrial
revival that then set in continued to progress to a
greater or less extent throughout 1909, giving for the
full year of 1909, as stated above, a total of contem¬
plated outlay for building construction well in excess
of the aggregate for any earlier year in our history.
This revival was of course marked by {decided activity
in the many and various trades from which supplies
for building purposes were required. The steel trade
in particular reported unprecedented activity.
As
a consequence, the year 1909 opened very auspiciously.
Contracts entered into in January covered anticipated
expenditure double that of the same month in the
previous year, February made much the same exhibit,
and March was not far behind.
In fact, the result
are
there
into the details of the annual
compilation, but there
notice. Naturally,
the result for Greater New York claims first attention,
covering as it does nearly 30% of the whole aggregate
given in the statement. For the combined boroughs
the building operations entered into in 1909 showed
an increase of 52.2% over 1908, the gain in Manhattan
having been 51.1%, in the Bronx 82-7%, in Brooklyn
51% and in Queens 34.2%. Richmond (Staten Island)
on the other hand, exhibited a decrease of 8.1%. Com¬
pared with 1907 and 1906, Manhattan, Bronx and
Queens recorded more or less of a gain, but in Brook¬
lyn and Richmond losses were in evidence. Other
cities in the Middle States record large gains over 1908
and quite generally over 1907 and 1906 as well.
Philadelphia, Pittsburgh, Newark, Buffalo, Rochester,
Baltimore, Scranton, Passaic and the Oranges in fact,
with the total for the 33 cities (other than New York)
in that section which our compilation includes, exhibit¬
ing an excess of 48% over 1908, and gains of 26.5%
and 17.4% respectively over 1907 and 1906.
Increases were quite general in New England, and
conspicuously large at Bridgeport, Worcester, New
Bedford, Lynn, Salem and Somerville, with the ag¬
gregate for the 25 municipalities from which we have
returns exceeding 1908 by 39.1% and 1907 and 1906 by
16.4% and 28% respectively. The Middle West
shows up wdl also, important gains being numerous,
not the least of which is the 46.6% at Chicago; and the
31 cities that have reported to us for 1909 show ex¬
cesses of 33%, 28.2% and 28.1%
respectively com¬
pared with the three preceding years.
On the Pacific, the exhibit is much the same a
elsewhere, except at San Francisco and a few othe;
are some
facts which call for special
144
THE CHRONICLE
points in California, where the year's figures com¬
pare with the phenomenal building' activity that fol¬
lowed the earthquake and fire. Important gains as
compared with all earlier years are shown by cities in
Washington and Oregon, and the 17 returns we have
from Pacific cities give an aggregate excess over 1908
of
[VOL.
LXXXX •
We have also secured
from
building construction returns
cities, and they are in line
United States in disclosing conspicu¬
number of Canadian
a
with those for the
activity in 1909.
In almost all localities much
more was done in the year
lately closed than in 1908,
as the
large increases in contemplated outlay at Ottawa,
Calgary, Fort William, London, Sydney and Winnipeg
clearly indicate. At the same time declines are shown
at a few points.
For the 18 cities included in our com¬
pilation which is subjoined, the expenditures arranged
for in 1909 totaled $60,110,415, as against $41,035,134
in 1908, or an increase of 46.5%, and there are also
important gains as compared with either 1907 or 1906.
ous
10.2%, but contrasted with 1907 (the extreme ac¬
tivity at San Francsico in that year being responsible)
there is a loss of 14.3%.
The “Other Western" States,
comprising the terri¬
tory west of the Mississippi River to the Pacific slope,
are not behind the rest of the
country in showing build¬
ing activity in 1909. In fact, it is there that many of
the greatest gains, as regards percentages, are recorded. The table follows.
Rapidly growing municipalities, such as Des Moines,
1909.
1908.
Inc.
1907.
1906.
tWlcMta, ’ Lincoln and Leavenworth, all more than
S
S
Dec.
S
%
doubled their 1908 totals, and more important cities, Toronto
18,200,000
13,156,652 +38.3 14,225.800 13,160,398
9,226,325
5,444,650
+ 69.6
6,309,950 12,625,950
like Omaha, St. Paul, Minneapolis and Duluth, exhibit Winnipeg
Halifax
626,474
820,465 —23.7
665,455
735.175
160,470
67,015 + 139.4
large gains. The average addition for the 27 cities Sydney
St. John. N. B...
385,700
275,450 + 40.0
reporting is 34.6% as compared with 1908, and 36.3% Montreal
7.783,565
5,062,326
+ 53.8
8,406,829
8,639,388
Brantford
439,235
289,855
+51.9
and 23.8% respectively over 1907 and 1906.
The Fort William
2,960,370
1.560.735 + 89.7
779.070
748.733
South and Southwest is represented in our table by 29 Hamilton
1,571,100
1,448,357
+8.5
2,761,385 *2,000,000
London
851,154
458,980
+ 85.7
municipalities, and of these Oklahoma, with a gain of Ottawa
4,527,590
1,794,075 + 152.3
344,589
236,983
+ 45.7
240.3% over 1908, records the^greatest advance, with Peterboro
Stratford
158,500
139,700 + 13.5
Fort Worth, 193.5%, Knoxville, 187.9%, and Macon, Moose Jaw
593,910
431,525 + 37.6
Regina
744,459
516,646
+ 44.1
140.1%, following. The total for all the Southern Calgary
2,420.452
830,950 + 191.3
1,745,220 *1,000,000
cities gives an augmentation of 35.2% over 1908, and EdmontOD
2,124,166
2,549,847 —16.7
2,280,210
1.868,069
Vancouver
6.992,356
5,950,923
+ 17.5
5,622,744
4,308,410
increases of 23.7% and 19.9% over 1907 and 1906.
Total, 18 cities
60,110,415 41,035,134 + 46.5 42,766,326 45,116.480
Finally, for the whole country outside of New York,
Estimated.
the gain as contrasted with 1908 is 31.8%, and com¬
pared with 1907 and 1906 is 18.8% and 19.4%. Lack ITEMS ABOUT BANKS, BANKERS & TRUST GO’S.
of space precludes our giving all the details of the build¬
—The public sales of bank stocks this week
aggregate
ing operations, but we subjoin a table showing the 449 shares, of which 365 shares were sold at auction and
results for three years for some of the
leading cities in 84 shares at the Stock Exchange. The transactions in
each section of the country, together with the totals trust company stocks reach a total of 152 shares. Fifty
shares of National Park Bank stock were sold at
470}^, an
for the remaining cities and the
aggregate for the whole advance of
1434
points
over the price paid at the last previous
163 municipalities.
sale in December 1909.
A 25-share lot of
or
_
*
BUILDING OPERATIONS.
1909.
$
New York City—
Manhattan
Other
.144,332,212
.122,716,314
Boroughs
Total
1908.
$.
95,516,177
78,641,442
.267,048,526 174,757,619
Buffalo
Rochester
Newark
.
10,077,365
.
9,272,132
.
Philadelphia
Pittsburgh
.
.
Baltimore
14.177.159
42.881,370
16,549,526
7,030,126
4,973,317
7.161,668
28,408,580
13,244,147
6,374,653
32,696,753
11,253,712
3,107,348
31,548,401
67,234,800
6,428,988
9,761,869
3,400,273
5,905,929
10,682,170
10,065,666
20.228,670
9.975.000
6.320,562
7,913,296
Other Middle, 27 cities.
47.639,389
Boston
14,078.646
Hartford
3,440,925
Other N. E., 23 cities..
46,575,949
Chicago
98,559,300
Cincinnati
7.802,954
Cleveland
12,481.214
Columbus
3,598.601
Indianapolis
7,156,560
Detroit
14,301.450
Milwaukee
11,587,651
Oth. Mid. West, 24 cities 23.228.374
Los Angeles
13,260.703
Oakland
5,318.112
Portland
13,366.580 10,405,151
San Francisco
28,540.288 31,673,341
Seattle
19,044,335 13,777.329
Spokane
8,766,226
5,927,538
Other Pacific, 11 cities.
19,575.799 19,516^438
Denver
11.554,983 10.098.020
Kansas City
13,368,738 10.562.041
St. Louis
23.783.272 21,190.369
Minneapolis
13,092,410 10.093,915
St. Paul
12,089.451
7,625,135
Omaha
7.204,140
4,590.650
Other West. 21 cities..
27.89S.260 17,551,587
Atlanta
5.551.951
4,833.941
New Orleans
5,165,512
5,744,311
Washington
13,720.593
9,153,403
Richmond
3,574,812
3.169,431
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
Louisville
.
Oklahoma
.
Dallas
.
Memphis
Other South., 21 cities.
Total 163 cities
.
.
3.096,876
5,903,270
3,393,683
4,324,377
28,235.454
1,734,948
2,306,098
3,300.508
21.545.785
.940,984,112 686.048.434
Outside New York.. .673,935,586
♦Estimated.
2,688.304
511.290.815
Inc. or
Dec.
1907.
$
1906.
S
+ 51.1
91,723,799 126,075,565
+ 56.1
105,894,916 114,988,893
+ 52.2
197,618,715 241,064,458
+ 43.3
+ 86.4
8.567,328
6,752,615
8,668.030
6,175,499
10,411,328
+97.9
9,546,725
+ 50.9
36,352,075
+ 25.0
14,809.586
6,439,580
8.611,708
34,891,229 34,143,414
15,071,419 *15,000,000
4,054,335
3,732,915
36,662,970 31,582,108
59,093.080 64,822.030
7,737,062
7,101,866
15,888,407 12,972,974
4,188,295
4,006.175
5,953.726
5,530.972
14,223,300 13,275,250
11,795.620
9,713,284
20,414.744 20,986,883
13,851,154 18,502,466
8,243,983
7,690,195
9.446,982
6,902,032
56,578,844 34.927.396
13,572,770 11,920,488
5,778,876
3,701,859
18,315,773 16,710,470
+ 24.1
+ 45.7
+25.1
+ 10.7
+ 47.6
+ 46.6
+ 21.4
+27.9
+5.9
+21.2
+33.9
+ 15.1
+ 14.8
+ 33.0
—15.6
+28.4
—9.9
+38.2
+47.9
+0.3
+ 14.4
+26.6
+ 12.2
+29.7
+58.5
+ 56.9
+58.9
+ 14.8
—10.1
+49.9
+ 12.8
+ 15.2
+ 240.3
+47.1
+31.0
+31.0
6,349.604
9.611,922
21,893,167
10,006,485
9,750.000
4.536,643
17.371,300
4,554,771
4.710,523
13,166,166
*2,500.000
3,032,548
2,616,650
2,248,070
4,957,997
21,513.930
40,711,510
17,952,161
7,000,996
10,765,480
29.938,693
9,466,150
9,537,449
4,273,050
16,803.795
5,156,149
5.563,437
12,101,876
*2,800,000
5,116,917
1,343,000
*2.200,000
4.346,767
22,320,051
+37.2 764.758.969 805.551.281
+31.8 667,140.254 564.486.823
Lawyers’ Title
310, an advance
of 67points over the last previous sale
price. This follows
the sale of a large block of the shares of this
company to
new interests, as announced further below.
A sale of 50
Insurance & Trust Co. stock
sold at
was
shares of stock of the Columbia Trust Co. was made at
326.
The last previous public sale of the stock was made
in October 1908 at 216.
BANKS—New York
Shares.
90 Amer. Exch. Nat. Bank
Low.
High. Close.
255
255 H
Last Previous Sale.
255 X
162
Nov.
162 H 162 H Oct.
1909—
202
208
203
Jan.
1910— 204
200
204
202
Jan.
mO- 204
Rights
1
ol2 Imp. & Traders’ Nat. Bank- 565
100 Irving Nat. Exch. Bank
208
1
1
Jan.
mO— 1H
565
Dec.
1909— 567 M
1909— 208
5 Citizens Cent. Nat. Bank...
*30 Commerce, Nat. Bank of
*53 Fourth National Bank
♦100
Do
569 H
1909— 249
160 H
208
208
Dec.
20 Manhattan Co., Bank of the.
351
351
351
Nov.
1909— 345
33 Market & Fulton Nat. Bank.
260 M
260 H
260 Yt
Dec.
1909— 260 H
1909— 311
9 Mechanics’ National Bank..
270
270
270
Dec.
282
282
282
May
1908— 299 H
27 New York,
330
Dec.
1909— 327
50
470 y2
Dec.
1909— 456 H
20 Mutual
Bank
N.B.A..Bank of. 329^ 330
Park Bank, National
470 H 470 H
TRUST COMPANIES—New York.
50 Columbia Trust Co—
326
326
25 Fifth Avenue Trust Co
425
435
25
Lawyers’ Title Ins.& Tr.Co. 310
2 United States Trust Co
50
Washington Trust Co
•
1260
an
address
on
Oct.
1908— 216
Sept.
1909— 395
310
310
Nov.
1260
1260
1909— 242 h
1909— 1260
Dec.
363 H 363 % 363 H Dec.
Sold at the Stock Exchange,
the Stock Exchange.
—In
326
435
a
1909— 365
Of this amount 1 share
was
sold
a
“Difficulties
Confronting a Centra
Bank,” delivered Wednesday night before the Finance Forur
of the West Side Young Men’s Christian
Association, Charle
H. Treat, formerly Treasurer of the United
States, advo
cated a Central Bank or National
Clearing House Bank. H
said he preferred the latter name because in several com
mercial crises the clearing-house banks in
many large citie
had rendered efficient services by
pooling their resources am
loaning to their membership on accepted commercial paper
He outlined the main features of the scheme as follows:
Briefly, my plan is a “bank for banks,” with a capital of not less thai
200 million dollars and not
exceeding 500 million dollars, with shares
o
Jan. 15
THE CHRONICLE
1910.]
Its stockholders might include national banks and State banks
and also private bankers. I would debar the general public
from being stockholders, because such a bank should be used mainly for
‘•re-discounting loans,” and for banks alone.
This membership would guard the policy of the bank more wisely than
$500 each.
of the country,
If Individual stockholders were permitted, for the r ason that bankers
would jealously guard the Interest of the National Clearing-House Bank
from being controlled by a financial monopoly by refusing to allow its
proxies to be concentrated In the hands of perhaps designing persons,
whereby Individual holdings might be assembled and so manipulated as to
dictate the policy of the bank.
'
I would suggest that no bank be permitted to Invest more than 20% of
capital In the shares of the new bank, on terms to be agreed upon.
Its board of directors shall be Impartially chosen, representing fairly
Its
the groups of banks in the different parts of the country, whereby concen¬
tration of financial power in the older and richer States would not be
unduly Influential.
The United States Government shall have no participation or dictation,
save that In general supervision, but the Secretary of the Treasury, the
Treasurer, the Comptroller and other appointees shall act as advisory to
the board of directors.
Any shareholder of the bank shall have the privilege of re-discounting
its business paper in proportion to its holdings and bank balance, but shall
not, in the aggregate, exceed 100% of its capital and surplus.
This bank shall be
a Government depositary, but perhaps not exclusively
It shall be authorized to act as a reserve agent for any bank with
which it does business, and especially be a reserve agent for the national
banks of the three central reserve cities. New York, Chicago and St. Louis.
so.
It shall be authorized to deal in foreign exchange.
It shall discount approved loans offered by its shareholders at not
ex¬
ceeding 85% of its face value, the balance remaining on deposit until ma¬
turity and payment of said loans. This would insure an income that
would provide a fair dividend on the stock.
In order that there may be facilities for ample expansion to relieve
extended financial distress, the Secretary of the Treasury shall be authorized
to accept as collateral for the issue of national bank currency to this Na¬
tional Clearing-House Bank, on approved commercial notes and securities,
indorsed by the previous discounting bank and guaranteed by the Na¬
tional Clearing-House Bank, an amount not exceeding 75% face value,
and at
a rate of not more than 3 % per annum with a limit of credit of six
months, the balance, 25%, to be paid back to the discounting bank on
maturity and payment of the loans.
The Clearing-House Bank would afford unusual opportunities for in¬
vestment by foreign or domestic bankers In the commercial paper of the
country.
It is a favorite mode of Investment by Europeans and in times
of idle capital would be utilized largely.
—The
New
York
Court
of
Appeals on the 11th inst.
opinion upholding the Appellate Division
(First Department) of the New York Supreme Court in de¬
claring unconstitutional that section of the stock transfer
tax law which permits the inspection of the transfer books
of brokers by a representative of the State
Comptroller.
handed down
The
case
an
in which the decision
rendered
was
was
that of
John S.
Ferguson of Benjamin, Eerguson & McMurtry, of
49 Wall Street, who, for the purpose of
instituting a test,
refused in October 1907 to allow an agent of the
Comptroller
to examine any of the firm’s books or papers (other than the
book of accounts), notwithstanding the section of the law
referred to, which was passed at the 1907 session of the
Legis¬
lature.
The Appellate Division of the Supreme Court in
March 1908 declared the section to be
unconstitutional, stat¬
ing in substance that the answer as to the question as to
whether the Legislature could compel a citizen to submit to
a search of his
private books and papers, in order that evi¬
dence might be obtained whereby he might be convicted
of
a crime or subjected to a
penalty, is to be found in Section 6
of Article 1 of the State Constitution, which
provides that
“no person shall be compelled in any criminal case to be a
witness against himself.” The opinion of the Court of
Ap¬
peals, written by Judge Hiscock and concurred in by alj
except Judges Haight and Vann, similarly holds the statute
to be in violation of the Constitution.
We quote the fol¬
lowing from the opinion:
The resistance of the relator
Ferguson to the attempt of the State Comp*
trailer's representative to Invade the privacy of his
books, papers and confi¬
dential business transactions, with the hope of procuring
against him some
incriminating evidence, was justified. The Court never has
decided, di¬
rectly or Indirectly, that the Legislature could compel a person to submit
himself or his private books for examination in an
investigation of which
the primary purpose was to discover that he had been
guilty of offenses
for which, by aid of the evidence thus discovered, he
could be punished
criminally or by penalty. No entry of any confidential transaction would
be protected by the prying search of the
public official.
The statute could
not, under the process and penalties prescribed, compel a person to sub¬
mit to an investigation Qf books and papers
kept in his private business
for the purpose of furnishing evidence which might be
used against him as
a basis for criminal prosecution or suits to recover
penalties. It offends Sec¬
tion 6 of Article Hof opr Constitution, against
compelling an Individual in a
criminal case to be a witness against hlrnself.
It seems to me that this
kind of an Inquisition and the attempt to secure from an
Individual evidence
which may be used to convict him of a crime or to forfeit his
property cornea
well within $h« principleswMch have been applied to the
intorpretatibn of
tfie Constitution^,:,
145
S. B.
Chapin & Co., Ill Broadway, has been suspended from
Stock Exchange for 60 days, and S. D.
Countiss, the other Exchange member 6f the firm, has been
suspended for 30 days. The spectacular gyrations in the
stock in the first half hour of the day’s trading, when a rise
from 50^ to 81 and a drop back to 50 occurred, were made
the subject of investigation by a special committee appointed
by the Governing Committee of the Stock Exchange, and
action on its report was taken by the Board of Governors
on Wednesday, resulting as above.
With regard to the
suspension of the two members referred to the following
statement was given out by the Stock Exchange:
the New York
On Dec. 27 1909 the fluctuations of the common stock of the Rock Island
Company at the opening of the market were so violent'and unnatural that
the Governing Committee immediately met and appointed a special com¬
mittee to investigate the matter, with the result that the Secretary of the
Exchange preferred charges against Simeon B. Chapin and Frederick D.
Countiss, members of the Exchange, and members of the firm of S. B. Cha¬
pin & Co., under Section 8 of Article XVII. of the constitution, relating to
acts detrimental to the interests and welfare of the Exohange.
The Secretary charged that said firm received an order from a customer
to buy at the opening of the Exchange on said day 40,000 shares of said
stock, and to give the orders to 20 different brokers to buy 2,000 shares each,
all at the opening, which order said firm obeyed, the result being an ad¬
vance of the price of said stock about 30 points and after said buying
had ceased the price receded about the same number of points.
That said
firm and the members thereof should have known that the execution of
an
order in such a manner should serve no proper or legitimate purpose, that
it
would
cause
panic, confusion and loss, and deprive the quotations ot
transactions upon the Exchange of their value as standards of the real
market value of securities.
That the execution of said order in said manner
by said firm constituted a misuse by them of the facilities of the Exchange
and was an act detrimental to the Interest and welfare of the Exchange.
At
meeting of the Governing Committee yesterday the committee found
Frederick D. Countiss guilty of the charge and speci¬
fication, and suspended Mr. Chapin for sixty days.
Mr. Countiss, who was
the resident partner at Chicago, was suspended for thirty days.
Section ll of Article XVII. of the Constitution reads as follows:
“Whenever a member is suspended by the Governing Committee an¬
nouncement thereof shall be made to the Exchange, and such member shall
be deprived during the term of his suspension of all rights and privileges
of membership except those pertaining to the Gratuity Fund.”
a
Simeon B. Chapin and
A statement
was
also issued
its connection with the matter
We received
Rock Island
an
by Chapin & Co., setting out
as
order on Dec. 27 from
common at
follows:
customer to
buy 40,000 shares of
the market at the opening, and were expressly di¬
a
rected to give it out to twenty brokers to buy 2,000 shares each.
The exe¬
cution of the order caused trouble and confusion, but in doing this we
simply acted
day.
as
directed and
our
customer paid for the stock the
following ‘
*
We were left without any discretion in the matter.
We had no reason
to believe there was any purpose or design on the part of the customer'
except to acquire the shares mentioned, and in the manner covered by his
,
instructions to us, nor did we have the slightest doubt
on the subject.
'Hie
result was purely an accident, which has not happened in a similar case.
The disturbance could not possibly have been foreseen, and a similar oc¬
currence is unlikely ever to happen again.
- •
There has been no
imputation
suggestion of wrong-doing on our part.
*
business as usual, but will give out our
the New York Stock Exchange to other brokers 1
We will continue to conduct
orders for execution
on
or
our
during the Interval.
The firm has two
Chicago offices, and besides member-*
ships in the New York Stock Exchange is a member of the
Chicago Stock Exchange, the Chicago Board of Trade and »
the New York Cotton Exchange.
—J. H.
McEldowney was elected a Vice-President of the
City Bank of this city at Tuesday’s annual meeting.
H. Milliken, of Deering, Milliken & Co., and G. H.
National
Gerrish
Church have been added to the bank’s directorate.
McEldowney, the
new
Vice-President,
was
an
Mr.
Assistant
Cashier heretofore.
—Lewis L. Clarke has been elected President of the Ameri¬
can Exchange National Bank of this
city, succeeding his
father, the late Dumont Clarke. The new President ad¬
vances from the
vice-presidency., and is replaced in the
latter office by Edward Burns, and Walter H. Bennett takes
the post of Cashier formerly held by Mr. Burns.
Mr. Ben¬
nett is succeeded as Assistant Cashier by A. K.
Guiscard.
de
Basil W. Rowe, Treasurer of the Adams
Express Co., has
been elected a director of the bank,
succeeding the late Mr.
Clarke. ‘ \ J' ' ;s. ‘
—The
proposition to increase the capital of the Chatham
National Bank of this city from $450,000 to $600,000
was
ratified by the stockholders at the annual
meeting on Tues¬
day. The new stock, par $25 per share, will be issued at
320%. It will be recalled that a large interest in the instij tutiop wajs acquired iri the^fall by^^hdicate composed of
^~y,
! F. W* Ayer and Wi]liam.A,.Law, respectively President and
;
the sensational fluctuations in the common! Vice-President -of the' Merchants’'National Bank of Phila¬
stocky pf;,Rock Inland Qp.
New York? Stock E*-j delphia, ex>-G0Vi'
Myron Ti Heitffck'of ^DMo, and Sylvester C.
change
Monday,, Dee. 27t.S. R; Chapin oh the'firm of)
Dufihafn*r Ptesideht' Of itfen travelers* Insurance Co. 'Mr.
V.'
‘ t/P
\
•.
*
fV. *' ’ •f.. {?<>* *
THE CHRONICLE
Law, it is stated, was ejected to the board of the Chatham at
recent meeting, to fill the vacancy caused by the death of
John H. Washburn. The changes in the board which oc¬
curred this week were the election, as additional directors,
of August Heckscher, Charles C. Lloyd, Robert H. Rucker
and Joseph H. Wright.
a
—Samuel H.
Miller, Cashier of the Chase National Bank
city, was elected a Vice-President this week. With
Mr. Miller’s promotion, Henry M. Conkey
an Assistant
Cashier, has been advanced to the cashiership.
of this
,
—Orin R. Judd and
Raphael L. Cerero have been elected
Assistant Trust Officers of the Knickerbocker Trust Co. of
this city.
—E. Tildon Mattox has been appointed an Assistant
Cashier of the Merchants’ Exchange National of this city.
Newly-elected members of the board of this institution
are
Jose M. Diaz and David L. Luke.
—W. B.
Krug was made a Vice-President of the Chelsea
Exchange Bank this week. Mr. Krug had previously held a
similar position in the Mutual Bank.
He has also become
a director of the Chelsea Exchange Bank,
together with
M. H. Blake, George Kern and O. H. Bartine, the new mem¬
bers succeeding B. F. Elgar, second, T. P. Spencer, D. G.
(Tol.
lxxxx.
of the New York State Bankers* Association at the Waldorf-
Astoria next
Monday night.
—The board of directors of the
enlarged Guaranty Trust
merger of the Morton Trust Co. and
the Fifth Avenue Trust Co. with the Guaranty Trust, as re^
viewed by-us last week, has been made public, and will be
as follows:
George F. Baker, Edward J, Berwind, Urban
H. Broughton, Edmund C. Converse, Henry P. Davison,
James B. Duke, Robert W. Goelet, Daniel Guggenheim,
Edwin Hawley, Alexander J. Hemphill, Augustus D. »uilliard, Thomas W. Lamont, Robert S. Lovett, Edgar L.’
Marston, Gates W. McGarrah, Lev! P. Morton, Charles-A.
Peabody, William H. Porter, Samuel Rea, Daniel G. Reid,
Thomas F. Ryan, William D. Sloane, Albert H. Wiggin and
Harry Payne Whitney. In addition to these, it is stated
Co,, resulting from the
that four other members will also be elected to the
board,
namely V. P. Snyder, Paul Morton, Charles H. Allen and
Walter S. Johnston.
The merger will be acted upon by the
stockholders
of
the
three
institutions interested
on
the
25th inst.
—F. C. Richardson has
resigned as Secretary and Treas¬
Company of New York to take up official
duties in the Quincy, Manchester, Sargent Co., Mumford
Moulding Machine Co., Motor Parts Co., Reading Steel
French and Dr. H. R. Connor.
—Two newly-elected directors in the Central Trust Co. of Casting Co., European Brake Shoe Co. and allied interests.
The resignation takes effect Feb. 1.
Edward T. Perine re¬
this'city are Edwin G. Merrill, Vice-President of the institution,
signed
as
President
of
the
company in November to become
and Dudley Olcott, President of the Mechanics’ & Farmers’
First Deputy State Comptroller.
Bank of Albany, N. Y.
—Pending the erection of the proposed new building on
—James N. Wallace, President of the Central Trust Co.,
its present site at Wall Street, corner of Nassau, the Man¬
has been elected to the board of the Mechanics’ & Farmers’
hattan Trust Co. has arranged to occupy the quarters of the
Bank of Albany.
National Copper Bank at 115 Broadway.
The latter gives
—Pierre Jay, a vice-president of the Bank of the Man¬
up the offices with its merger with the National Mechanics’
hattan Co., has been elected a director of the institution to
Bank.
The Manhattan’s lease of the Broadway offices is
succeed the late John Stewart Kennedy.
a
for
term of two years beginning April 1 next.
—H. H. Powell, Cashier of the Importers’ A Traders’
—Hamilton McK. Twombley, identified with numerous
National Bank of this city, has in addition been made a
railroad interests and a director of several banking insti¬
Vice-President. Henry C. Hulbert has also been elected a
tutions, died on Tuesday. He was in his sixty-first year.
Vice-President of the bank. John J. Lapham has been
Mr. Twombley was a son-in-law of the late William H. Van¬
elceted a director to take the place of James R. Plum,
derbilt and was associated with the Vanderbilts in the vari¬
urer
deceased.
and which
as
are
not noted elsewhere in this
department,
are
follows:
Audubon National Bank—J. F. CHtroggeaadLaui* Anea Ames have been
added to the board, increasing the membership to IS.
Aetna National Bank—William Ottmann elected to the board to succeed
F. S. Fisher.
Battery Park National Bank—Old directors re-elected, except G. S.
Hart, who retires from the board.
Bank of the Metropolis—Samuel McRoberts, Vice-President of the
National City Bank, chosen a director of the Metropolis to fill the vacancy
paused by tfee reslffnatiou of James Stillman.
Century Bank—Thomas A. Looming and W. A. GlUlsple elected to the
beard, succeeding James H. Cobb and Edgar O. Silver, deceased.
Ohemleai National Bank—Henry P. Davison, of J.rF. Morgan & Co., has
been added to the board of this institution. William H. Porter. President
of the Chemical, recently became a director of the Guaranty Trust, oontrolUng Interest in which was taken over in December by a syndicate headed
by Mr. Davison. Mr. Porter is also one of the trustees with whom control
of the company has been lodged for five years.
Fourth National Bank—Mortimer L. Schiff, of Kuhn, Loeb A Co., and
L. F. Loree, President of the Delaware & Hudson RR. CO., have been
elected to the board, Mr. Loree replacing the late Charles Stewart Smith.
Fourteenth Street Bank—The board Increased to fifteen with the elec¬
tion of the following new members: W. E. Wheelock, Michael
Blake, T. P.
Spencer and Louis V. Ennis.
Mr. Ennis is Cashier of the bank.
German-American Bank—C. E. Schafer has been elected to the board
to succeed the late Henry Rochall.
Mechanics' National Bank—William B. Boulton retires from member¬
ship in the directorate.
Merchants’ National Bank—Charles A.Boody, President of the
People’s
Trust Co. of Brooklyn, Is a new member of the Merchants’ board, succeedng Charles Stewart Smith.
National Park Bank—Richard H. Williams, of Williams &
Peters,
elected as a director to take the place of George S. Hart, resigned.
National
Reserve
Bank—Four
new
directors were
chosen this week,
namely Royal Victor, of the law firm of Sullivan & Cromwell; Joseph Di
Giorgio, Phoenix Ingraham and Abram I. Elkus. Members of the board
who retire are Nelson G. Ayres, Eugene Britton, George L. Glllon,
Thomas
N. Jones and Mortimer H. Wagar.
Another member, Harry Louderbough,
died
a
week ago.
Sherman National Bank—Charles D. Stickney and William J.
Taylor
replace E. H. Kidder and J. C. Howard on the board.
Union Exchange National Bank—Louis J. Well, Vice-President of
the
institution, has been chosen a director of the Institution.
•—Senator Aldrich, F. Hopkinson Smith, Woodrow Wilson
ad Secretary of the Treasury Franklin McVeagh are the
eakers announced for the annual dinner of
Group VIE
interests in which
they were dominant, being especially
conspicuous in the development of the New York Central
system. He was a director of the numerous Vanderbilt
railroad properties.
—Charles Head, of the banking firm of Charles Head A
Co., members of the New^York and Boston Stock Exchanges,
died suddenly in his New York office, 17 Broad Street, on
Wednesday. Mr. Head was sixty-one years of age. He had
been senior member of the firm, whose headquarters are in
Boston, since 1877. Its establishment dates from 1868,
when the name was Marquand, Hill A Co.
Later, with the
retirement of Mr. Marquand, who was an uncle of Mr. Head,
it was changed to Hill, Head A Co., the name becoming
ous
—Some of the changes in directorates which have occurred
at the annual meetings of local banking institutions this week
of the Audit
Charles Head A Co. when Mr. Hill retired in 1877.
Mr.
Head was formerly President of the Boston Stock Exchange
and had been
some
a
member of its
Governing Committee for
time past.
—The
purchase of 13,000 shares of stock of the Lawyers’
city by Goldman, Sachs
Title Insurance A Trust Co. of this
& Co. and Lehman Brothers has been effected.
The hold¬
ings were acquired from the Equitable Life Assurance So¬
ciety, the Mutual Life Insurance Co. and the United States
Realty Co., the entire interest of these three organizations
in the Lawyers’ Title being taken over in the transaction.
The purchasers thus secure a 32J4% interest in the Lawyers’
Title, which has a capital of $4,000,000. An announce¬
ment issued in the matter by Goldman, Sachs & Co. says:
The sale of this stock appears to be in conformity with the evident policy
of the life Insurance companies to divest themselves of their holdings of
period allotted them for so doing under the law. This period
expires on Dec. 31 of this year.
It is understood to be the intention of
the purchasers considerably to enlarge the scope of the Lawyers’ Title
Insurance & Trust Co’s operations, which hitherto have been confined
strictly to a mortgage and title guarantee business. The old management
of the company will be retained, but three new directors will enter the board
and executive committee, filling vacancies made by the retirement of repre¬
sentatives of the former Interests.
The Incoming members are to be Henry
Goldman, Philip Lehman and Adolph Lewlsohn, President of the United
Metals Selling Co.
stock in the
—William M. Kern has become Treasurer of the Dollar
Savings Bank at Third Avenue and 148th Street. Harry F.
Regal has been chosen Secretary—the post heretofore held
THE CHRONICLE
Jan, 15
Joseph Hi Jones has been elected a trustee
by Mr. Kern.
$1,000,000 capital, surplus and profits of $933,000 and deposits in the neighborhood of $14,000*000.
—The Nineteenth Wkrd Bank, at Third Ave. and 57th
—In the Brooklyn Bank the following are new members
St., Warner M. Van Nordefc, President, ami Theodore of the board: Charles B. Hobbs, Warren P. Diefendorf,
Langdon van NOrden, Vice-President, published last week Frederick C. Truslow, G. A. Vaughan and Otto Wissner..
an interesting comparative statement of business for the
They replace S. S. Menken, Nelson G. Ayres, Charles K..
past Seven years. This active institution, with 20,529 Beekman, Erskine Hewitt and William A. Prendergast.
accounts and several branches* has steadily increased its
—The Union Bank of Brooklyn Borough has three new
deposit line among the residents of the East Bide district. directors in Eugene J. Grant, P. J. Menahan and Arthur G.
Beginning with Aug. 24 1903, when deposits were $1,529*469, Stone.
the comparison is as follows:
$1,751,236 Jan. 1 1904;
—In the Hamilton Trust Co. of Brooklyn the new direc¬
$3,087,923 Jan. 1 1905; $4,097*282 Jan. 1 1906; $4,321,333
tors are Charles E. Keator and James C. Cropsey.
Jan. 1 1907; $5,235,537 Jan. 1 1908; $5,637,683 Jan. 1 1909,
—The death of Moses May, a Jewish citizen of prominence
and $7,869,821 Jan. 1 1910.
Capital was $300,000 and sur¬
in Brooklyn, occurred on the 9th inst.
Mr. May was born
plus and profits $403,412 Jan. 1 1910.
in Strasburg seventy-seven years ago, and at the age of
—Certain assets of the failed New Amsterdam National
nineteen came to this country, settling in Brooklyn, where
Bank of this city offered at public auction on the 10th inst.
he later founded the slaughter house qf Max. Levy & May.
by John W. McKinnon* agent for the shareholders, were
Mr. May was one of the organizers and the first President of
disposed of to the Assets Realization Co. for $210,000. The
the Broadway Trust Co., Manhattan, formed in 1902, but
latter’s bid was the only one received.
The bank failed on
At the time of his
Jan. 27 1908.
The depositors were paid in full, together resigned the presidency six years ago.
death he was a director of that institution, the Fhst National
with interest at 6%, the final payment having been made
Bank of Brooklyn, the Williamsburg Trust Co. and the
in February
1909;
Empire State Surety Co., and Vice-President of the Bush—Ralph Peters, President of the Long Island RR., has wick
Savings Bank of Brooklyn.
been elected a director of the Franklin Trust Co. of
of the bank.
.
Man¬
hattan
and
Brooklyn, succeeding Gates D. Fahnestock,
resigned.
—Lewis A. Cushman has been elected to the directorate of
the Hudson Trust Co. of this
city.
—De Witt C.
Flanagan, President of the H. Clausen & Son
Brewing Co., has been elected to the board of the Windsor
Trust Co. of this city.
—Charles W. Riecks, Vice-President and Cashier of the
Liberty National Bank of Manhattan, has been chosen to
May on the board of the First National
Bank of Brooklyn.
succeed the late Moses
—Control of the
Orange National Bank of Orange, N. J.,
capital $150,000, has passed from the United States Mortgage
& Trust Co. of New York to John D. Everitt and Henry L.
Holmes, respectively President and Cashier of the bank, who
are associated in the transaction with interests prominent in
New York and Orange.
All of the holdings of the trust
company have been acquired by the new owners.
With
the change, William A. Jamison, J. W. Hardenbergh,
Stephen M. Smith, Philip F. Timpson and Arthur Turnbull
retire from the bank’s board.
stituted
consists of
Charles
The directorate
as now con¬
M.
Bank of
Decker, George Spottiswoode, John N. Lindsley, Wm . Read Howe, Simeon H. Rollinson, James G. Campbell, Henry H. Holmes, John D. Everitt
and Camillus G. Kidder. All the foregoing members have
heretofore served on the board except Messrs. Holmes and
Campbell. Mr. Campbell is a partner of A. B. Leach k Co.
ings Bank, has been added to the board of the Nassau Na¬
of New York.
tional Bank of
—Eugene Satterlee, President of the Lincoln National.
Rochester, N. Y., and President of the Rochester,
German Insurance Co., died on the 8th inst.
Mr. Satterlee,
was born at Glens Falls in 1847.
He was graduated from
the University of Rochester in 1867, later attended Heidel¬
berg and Berlin colleges, and the Albany Law School, and in
1872 was admitted to the bar,; He was a law practitioner
—Assistant Cashier William J. Bennett of the Mechanics’
Brooklyn has been chosen to replace the late James
Raymond as a director of that institution.
—Edwin P. Maynard, Comptroller of the Brooklyn Sav¬
Brooklyn.
—The law firm of Sullivan k Cromwell this week paid
$240,000, or 10%, of the net indebtedness of $2,400,000 of
E. R. Thomas.
The plan of liquidation, we are informed,
is working out satisfactorily, and further payment is expeoted to be made in the near future. Sullivan k Cromwell
the counsel for the Thomas trustees add the
are
Equitable
Trust Co. is the
depositary.
—Benjamin Strong Jr.r Vice-President of the Bankers’
Trust Go. of this city, hits been elected a director of the
Astor Trust Ckf.
—At the meeting of the new
Lincoln National Bank of this city
board of directors of the
held on Thursday, Charles
Elliot Warren, Cashier of the bank, was elected Vice-Presi¬
dent.
Mr. Warren was formerly President of the New York
State Bankers’ Association, is now a member of the Finance
Bank of
from 1874 to 1905.
Mr. Satterlee had been President of the
German American Bank of Rochester, which in 1905 con¬
solidated with the Flour
City National Bank, forming the
National Bank of Rochester. With the consolidation, he
assumed the presidency of ijhe latter, the name of
was
changed last
—John Foster,
year
to the Lincoln National Bank.
Vice-President and Cashier of the National
Providence, R. I., died on Dec. 31 in
Bank of Commerce of
his
seventy-fifth
Cashier to succeed Mr.
Mr. Foster had been associated
beginning. He entered its
employ as an office boy shortly after its incorporation in
1851, was its Cashier for forty-four years and its President
for about seven years.
He was also a trustee of the People’s
Savings Bank of Providence. C. Prescott Knight has been
and
elected
Committee and Executive Council of the American Bankers’
Association, and also
k
Kalamazoo
David
RR.
a
director and Treasurer of the Erie
Co. of
the New
York
Central lines.
C.
Grant, Assistant Cashier, has been appointed
Warren, and John S. Sammis Jr.
Henry E. Stubing have been appointed Assistant
year.
with the bank almost from its
Vice-President
and John G.
Massie has been ap¬
Cashiers.
pointed Acting Cashier.
—Negotiations looking to a merger of the Nassau Trust
Co. with the Mechanics’ Bank, both of Brooklyn Borough,
are pending.
While matters are still in an embryo state,
it is believed that the proceedings will be brought to a suc¬
Montgomery has been elected President of
Eighth National Bank of Philadelphia, to succeed
Charles Porter, who retired at the annual meeting because
of his advanced age.
Mr. Montgomery, who was already a
director of the institution, is senior member of the wholesale
grocery firm of William Montgomery & Co.
—E. F. Shanbacker, First Vice-President of the Fourth
Street National Bank of Philadelphia, has been elected a
director of the institution.
Roland L. Taylor has also been
elected to the bank’s board, from which E. C. Converse
cessful conclusion.
Mechanics’
From official advices
time ago
we
learn that the
submitted a proposition to the
tending toward the absorption of the latter.
At a meeting of the trustees of the Nassau this week the
proposition was given consideration, but finally voted down,
and a counter proposition was submitted to the Mechanics’,
which, if approved, will result in the consolidation of the two
institutions.
The Nassau Trust Co., organized in 1888,
has a capital of $600,000, surplus and profits of nearly $500,000 and deposits close to $6,000,000.
The Mechanics' has
some
trust company
—William J.
the
retires.
.
»
—S. S. Marvin has been elected to the directorate of the
Union National Bank of Philadelphia, succeeding the late
Joseph 8. Knight.
148
THE CHRONICLE
—Dimner Beeber is a new member of the board of the
Tradesmen's National Bank of Philadelphia.
—The
[VOL.
LXXXX.
Vice-President G. P. Hoover will have direct supervision of
banking department, while the corporation department
will be in charge of Vice-President Andrew Cooke.
the
City National Bank of Baltimore completed
—B. C. Sammons, for several years an Assistant Cashier
Tuesday, the 11th inst., and two days
later, the 13th, opened for business. The bank is located of the Com Exchange National Bank of Chicago, has been
in the United Surety, Building, 15 South St.
Its officers are elected a Vice-President of the bank.
President, David H. Carroll, Vice-President of the Consoli¬
—John A. Richardson has been elected Third Vice-Presi¬
dated Cotton Duck Co.; Vice-Presidents, John F.
Sippel dent of the Chicago Title & Trust Co. of Chicago, a position
and Michael Schloss, and Cashier, Harry M. Mason.
The created this week. Mr. Richardson has held the office of
bank has a special feature—an investment
department, Secretary, in which he is succeeded by Justin M. Dali, here¬
where inquiries with regard to the merit of investment se¬ tofore
an Assistant
Secretary.
new
its organization on
curities will be looked after.
It has also installed
a woman
—S. R.
Flynn has retired from the presidency of the Live
Exchange National Bank of Chicago and the Stock
its woman patrons.
Yards Savings Bank.
William A. Heath, Vice-President
‘*JL
—A mergerTof the Fourth National Bank of
Pittsburgh of the Hibernian Banking Association of Chicago, is slated
with the National Bank of Western Pennsylvania of that for the
presidency of the Live Stock Exchange National
city has been approved by the directors of the Fourth and Bank. Prior to his engaging in the
banking business in
recommended for the acceptance of its stockholders, who
Chicago, Mr. Heath was for some years a State bank ex¬
will meet on Feb. 14 to act on the
proposition. It is in¬ aminer in Illinois. With his change in bank relationship,
tended to increase the capital of the Western Pennsylvania Mr. Heath retires from the
directorate of the Hibernian.
National from $500,000 to $1,000,000; its
stockholders, Ex-President Flynn, who was formerly Vice-President of
who will ratify the arrangements on Feb.
10, receiving a the Second National Bank of St. Paul, has determined upon
stock dividend of 55%, and the remainder of the new issue a
year's rest at least, and, with his family, will sail for Europe
being allotted to the stockholders of the Fourth. The latter next month. In the presidency of the Stock Yards
Savings
has a capital of $300,000 and deposits of about
$800,000. Bank he is replaced by C. N. Stanton.
At this week's annual meeting of the National Bank of West¬
—The stockholders of the First National Bank of
Chicago
ern Pennsylvania, President Stewart of the Fourth and Cash¬
re-elected all the old directors and added three new names
ier Phillips, Cashier of that bank, were chosen as officers of
to the list—B. E. Sunny, President of the
Chicago Telephone
the Western Pennsylvania, the complete official staff of
Co.; Clarence M. Woolley, President of the American Radi¬
which is as follows: Charles McKnight, President; D. G.
ator Co., and Frank O. Wetmore, one of the Vice-Presidents
Stewart and G. S. Macrum, Vice-Presidents; J. S. M. Phil¬
of the bank.
The stockholders also
approved the proposi¬
lips, Cashier, and H. C. Burchinal, Assistant Cashier.
tion to increase the bank's
from
capital
$8,000,000 to $10,—The business of the private banking house of S. Kuhn 000,000.
Cashier in
-
‘
a
department provided for the accommodation of
Stock
^
& Sons of Cincinnati has been merged with that of the FifthThird National Bank of that city. . The absorbed house was
established in 1876
by Samuel Kuhn, who had as partners
Louis, Simon and Charles. The entire owner¬
ship passed to the sons with the death of the father in 1890.
It is stated that the deposits of the firm exceed
$1,000,000.
The Fifth-Third; in taking over the business will increase its
capital $50,000, or from $2,700,000 to $2,750,000. The
new stock, the “Cincinnati
Enquirer” reports, will go to the
Kuhns on the basis of $150 per share, the actual book value
of the Fifth-Third, and in addition
they will receive $50,000
his three sons,
in cash.
Louis Kuhn was elected a Vice-President of the
Fifth-Third at this week's annual meeting, thus
—William C.
Cummings was promoted to the presidency
Savings Bank, Chicago, and William
A. Tilden, who had been President, accepted a
vice-presi¬
dency. Murray M. Otstoot has been made Cashier.
—E, R. Bliss, who has been acting President of the Metro¬
politan Trust & Savings Bank, Chicago, since the death of
President James H. Gilbert, was regularly elected to that
office on the 11th inst.
Galvin F. Craig, Cashier, was in
addition elected to fill the post of Secretary.
Charles S.
Tuttle, heretofore Secretary and Trust Officer, was re-elected
to the latter position and was also made Assistant
Secretary.
of the Drovers' Trust &
The board of directors has
addition, Colonel Bliss.
one
giving the
bank three Vice-Presidents, William A.' Lemmon and Ed¬
ward A. Seiter holding similar posts.
While the
ptotxe tarsi ©omraeixtall^ttgltsftfoetus
merger
took effect
Monday the 10th inst., formal approval to
the proceedings will be given by the stockholders of the bank
on
on
^WWVWWWSAAWWVWVM^WVWWWWAWVVWVWWVWWVWWWWW/WWWWWWWtVWWW
the 22d inst.
—Several
changes occurred in the personnel of the official
Savings Bank of Chicago this
staff of the Harris Trust &
as
London.
Week ending Jan. 14.
week.
As re-constituted the management is as follows:
Albert G. Farr, Chairman of the board; Norman W.
Harris,
President; Albert W. Harris, Nathan C. Kingsbury, George
P. Hoover and Andrew Cooke, Vice-Presidents; Howard W.
Fenton, Treasurer; Edward P. Smith, Secretary; Frank R.
Elliott, Cashier; Joseph H. Vaill, Assistant Cashier, and
Harry A. Dow, Assistant Secretary. The board consists of
James T. Harahan, Allen B. Forbes, Albert W.
Harris,
Albert G. Farr, Isaac Sprague, Bernard A.
Eckhart, Howard
W. Fenton, John B. Lord, Nathan C. Kingsbury,
George P.
Hoover and Norman W. Harris.
This is an enlargement of
last year's board by the addition of Mr.
Fenton, who has
been Treasurer and the head of the bond department of the
bank since its incorporation in 1907, and who now also be¬
comes a member of the executive
committee, and of Mr.
Kingsbury, President of the Michigan Telephone Co., who
assumes
the duties of
an
active Vice-President.
Albert W.
Harris, who is made First Vice-President, will remain the
active head of the general management of the bank, in which
Mr. Farr will continue to participate as
heretofore, in addi¬
tion to his
new
duties
as
Chairman of the board.
tion of Mr. Farr, who has been First
The selec¬
Vice-President, for
the
Chairmanship of the board is a merited recognition of his
more than a quarter of a century’s active business association
with Mr. N. W. Harris, since the original founding of the
banking house of N. W. Harris & Co. at Chicago in 1882.
English Financial Markets—Per Cable.
daily closing quotations for securities, &c., at London,
reported by cable, have been as follows the past week:
The
Silver, per oz
Sat.
—d.
Mon.
Tues.
24 3-16 24 3-16
82 11-16 82%
82 11-16 82 13-16 82%
99.20
99.10
99.02%
Consols, new,
For account
French Rentes (In Paris), tr.
■
.
Amalgamated Copper Co... 90%
b Anaconda Mining Co
10%
Atchison Topeka & S. Fe... .1253*
Preferred
106%
Baltimore & Ohio
121%
Preferred
96
Canadian Pacific
186%
.
Chesapeake & Ohio
93%
Chicago Milw. & St. Paul....160
Denver & Rio Grande
52
Preferred
86
Erie
34%
First preferred
53
Second preferred
42
Illinois Central
149%
Louisville & Nashville
.162
Missouri Kansas & Texas... 51%
Preferred
76
Nat. RR. of Mex., 1st pref.. 64
Second preferred
26%
N. Y. Cent. & Hudson Rlv__.128
N. Y. Ontario & Western... 50%
Norfolk & Western
101%
Preferred
92%
Northern Pacific
.147
.
.
■
.
.
■
.
.
.
.
•
a
a
Pennsylvania
Reading
a First preferred
a Second preferred
69%
.
■
Rock Island
Southern Pacific
Southern Railway
Preferred.
Union Pacific
Preferred.
U. S. Steel Corporation
Preferred
Wabash
-
Preferred
Extended 4s
a
Price per
Wed.
24%
2% per cents. 82%
.
share.
....
90%
11
126
107
89%
10%
124%
10%
124%
107
122%
106%
121%
121
96
96
96
185%
93%
185%
53%
52
86
85%
34%
34
53
54
42
151
162
50%
76
64
26%
127%
50%
101%
92%
47%
55
55
86
48%
141%
33%
48%
140%
33%
48%
138%
75%
207%
105%
75%
207%
75
205
106
105%
89%
78%
78%
b£ sterling,
63%
26%
125%
50%
47%
26
59
76
101
92
147
55
26
59
160%
50%
26%
70%
91%
150
126
147%
127%
53
41%
150
161
51%
90%
85%
34%
41%
76
64
127%
185%
92%
157%
50%
92%
157%
159%
69%
85%
47%
86
24%
25%
57%
.
,
10%
124
106%
120%
96
185%
91%
155%
49%
85%
34
52
41%
150
160
49%
76
63
26%
125
49%
100%
145%
142%
69%
54
47
138%
33
74%
204%
1. 105%
90
127
127
24%
50
101
92
85%
47%
33%
Thurs.
82 9-16 82%
82 11-16 82%
99.05
99.10
90
88%
92
69
C84
47%
54
46
137%
32%
;74
203%
104%
j89%
126%
i ;23%
56 :.n- ; : 54%
24%
<
I
78%
77%:
77%
Fri.
24 3-16
82 13-16
82 15-16
99.10
88%
10%
124%
106%
120%
96
185%
92
156
49%
84%
34%
52%
41
150
160
49%
75%
63%
26
126
49
101%
92
143%
69%
84%
47%
54
46%
138%
32%
74
203%
105
89%
128%
.24
55
77
c Ex-dividend.
b
*
r
.
Jan. 15
THE CHRONICLE
1910.]
149
©oraraevcial and ftiiscellmueows Hems
DIVIDENDS.
The
Breadstuffs Figures brought from Page 178.—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
since August 1 for each
following shows ail the dividends announced for the
by large or important corporations:
Dividends announced this week are printed in italics.
future
Per
the week ending last Saturday and
of the last three years have been:
Name of Company.
When
Books Closed.
Cent.. Payable.
Days Inclusive.
Railroads (Steam).
Wheat.
Flour.
Receipts at-
Corn
Oats.
Barley.
Rye.
bbls. 1967&.<f. bush. 60 lbs. bush. 56 lbs. bush. 32 lbs. bushAHlbs. bu.56 lbs.
186,655
200,400
2,143,750
1,422,200
480,000
24,000
Chicago
Milwaukee.
Duluth
63,175
3,345
.
89,100
156,200
367,034
Minneapolis.
2,390,770
Toledo
Detroit
Cleveland
St. Louis...
Peoria
Kansas City.
26,500
27.096
15,204
377,994
5,649
706
43,260
123,700
235,320
93,550
179.254,
234,151
606,624
335,200
358,600
23,276;
709,800
Tot.wk.’lO
Same wk. ’09
Same wk. ’08
172.500
177,802
201,470
45,750
16,000
5,928
61,430
4,000
58,784|
4,342,649'
4.226,674'
2,309,591
3,303,557
426,490
264,814
290,691
223,600
133,293
440,250
3,529,524
3,952,400
70,312:
291,200
175,750
115.500
55,900
69,600
8,000
14,300
2,731,268
2,624,422
3,022,663
1,413,884
1,105,040
1.384,839
133,658
106,678
83,944
11,241
*
Since Aug. 1
I
I
1909-10... 10,593,598 161,563,135 75,597,7471
7,684,965 44,704.164 4,218,217
1908-09... 10,447,638 156,342,641 64,589,345 89,612,436 51,212,915;4,169,086
1907-08...
8,874,722 140.094,841
88,433,477 . 95,830,152 41.407,46414,233,289
Total receipts of flour and grain at the seaboard ports for
the week ended Jan. 8 1910 follow:
Flour,
bbls.
Wheat,
Portland. Me
166,865
37,857
17,000
Philadelphia
58,242
Baltimore
Richmond
New Orleans *
34,985
7,419
20,467
291,600
116,419
457,000
65,979
37,997
33,104
Newport News
9,603
Norfolk
Galveston
Mobile
Montreal
St. John
5,000
Receipts at—
New York
Boston
Com,
bush.
bush.
2,400
13,000
Total week
Week 1909
Since Jan. 1 1910..
Since Jan. 1 1909..
4,089
16,019
51,000
66,749
322,000
428,546
347,832
428,546
347,832
1.406,248
1,296,640
1,406,248
1,296,640
Oats,
Barley,
Rye.
bush.
bush.
bush.
425,250
174,211
343,125
83,413
36,975
19,550
43,441
753,396
27,828
074,700
94,286
94,914
17,960
26,814
53,000
1,000
-----
—
15,963
75
15,400
6,005
56,403
28,643
42,000
2,319,517
1,653,489
2,319,517
1,653,489
675,704
960,111
675,704
960,111
108,618
173,077
108,618
173,077
35,513
5,001
35.513
5,001
from the several seaboard ports for the week
ending Jan. 8 1910 are shown in the annexed statement:
Wheat,
bush.
Corn,
Flour,
Oats,
Rye,
Peas,
Barley,
bush.
bbls.
bush.
bush.
bush.
bush.
351,446
29,712
2,343
Philadelphia
338.000
73,987
17,000
48,419
42,000
21,046
7,000
9,603
4,000
4,089
5,000
51,000
3,600
Boston
258,054
457,000
524,506
Portland. Me
120,000
52,000
241.020
1,030,000
94,286
294,000
15.400
Baltimore
New Orleans
Newport News
Galveston
Mobile
Norfolk
St. John
-
322,000
Total week
Week 1909. j.
460
Tieo
800
3,400
8,235
28,063
-Flour-
;
17,000
Week
Jan. 8.
bbls.
Exports for week and
since. July 1 to—
3
2X
July 1
,093,296 1,493,204 36,019.998
764,025
,216,918
403,356 19,452,113 1,385,152
3,090
455,015
213,919
1,380
754,163
3,675
45,816
76,652
126,483
99,630
1,778
4,214,074
5,649,171
399,234
1,103,309
32,991
17,841
July 1
1909.
bush.
1909.
bush.
The world’s
shipments of wheat and corn for the week
ending Jan. 8, 1910 and since July 1 1909-10 and 1908-09 are
shown in the following:
2X
2X
3
IX
2
4
IX
2X
Preferred
2X
5
40
3
—
2X
2X
lb
Street A Electric Railways.
Boston Elevated Ry
Boston A Northern Street Ry., preferred.
Boston Suburban Electric Companies...
Cine. Newport A Cov. L.ATr., com. (qu.)
Preferred (quar.)
Columbus (O.) Ry., pref. (quar.) (No. 41).
Consolidated Traction of N. J
Grand Rapids Ry., pf. (qu.) (No. 37)
Havana Electric Ry., com. (quar.) (No.
3
3
Feb.
Feb
Tan.
1
Jan.
IX Jan.
IX■ Feb.
2
Jan.
IX Feb.
IX Feb.
1
Feb.
IX Feb.
3
Feb.
3
Feb.
2
Jan.
X Mch.
IX Jan
2X Feb.
1
Jan.
3
Feb.
IX Jan.
Jan.
2X
IX Feb.
IX Feb.
IX Feb.
1
Feb.
2
Feb.
1
Feb.
IX Jan.
IX Feb.
2X Jan.
1
Jan.
$1
5)
Preferred (quar.) (No. 16)
Jacksonville Electric Co., com. (No. 11)..
Preferred (No. 15)
Manchester Trac., Lt. A Power (quar.)..
Metropolitan West Side Elev., Chic.,
Milwaukee Elec. Ry. A Light, pref. (qu.)
Montreal Street Ry. (quar.)
Northwestern Elevated, preferred (quar.)
Old Colony Street Ry., preferred
Ottumwa (la.) Ry. A Lt., pref. (quar.).
—
United Tractiont Pittsburgh, preferred..
Wheeling (W. Va.) Traction
^
Bushels.
1908-09.
Since
July 1.
July 1.
Bushels.
Week
Jan. 8.
Bushels.
Bushels.
North Amer. 3,244,000 89,625,000 117,667,700 2,137,000
Russian
4,408,000 128,192,000 38,560,000
502,000
Danublan
616.000 12,368,000 25,808.000
544,000
....
..
Argentine
Australian...
Oth. countr*s
Total
8.000
..
....
984,0 0
1,504,0 0
14,832,000
7,340,000
27,608,000
30,515,000
9,096,000
7,730.000
587,000
Since
Since
July 1.
July 1.
Bushels.
11,557,000
13,088.000
12.191.000
57,199,000
quantity of wheat and
mentioned
was
as
com
Bushels.
12,870,400
8,393.500
14.265.500
42.185.500
77,714,900
afloat for Europe on dates
follows:
1
1
1
1
2
Common (special).
Preferred (quar.)..
American Seating, pref.
2X0
IX
IX
(quar.)
1
.
)
Preferred (quar.)
IX
X
IX
X
-
.
-
)
Central Dlst. A Printing Teleg. (qu
Claflin (H. B.), common (quar.)...
Second preferred (quar.).
-
-
-
-
’■
.
Jan. 8
Jan.* 1
Jan. 9
Jan. 11
Detroit Edison (quar.).
Corn.
United
Bushels.
1910,. 20,000,000
1910:. 18.080,000
1909., 15,040,000
1908.. 21,280,000
2
ix
ix
ix
ix
IX
2
.
-
Kingdom.
IX
IX
50c.
.
-
First preferred (extra)
Second preferred (quar.)
Second preferred (extra)
Bell Telephone of Canada (quar.)...
1
2
1
-
)
United
-
Continent.
Total.
Kingdom.
Continent.
Total.
Bushels.
Bushels.
Bushels.
Bushels.
Bushels.
7.520,000 27,520,000
6,720,000 24,800,000
5,760,000 20.800.000
8,160.000 29.440.000
5,865,000
5,950,000
4,250,000
3,800,000
.
5.950.000 11,815,000
5,695,000 11,645.000
4.930,000 9,180,000
4,680.000 8,480,000
Dominion Coal, Ltd., preferred.
Eastman Kodak, common (extra)..
Eastman Kodak, common (quar.)
Preferred (quar.).
Edison Elec. Ill., Boston (qu.) (No.
Electric Bond <fc Share, com. (quar.) (
Preferred (quar.) (No. 19)
-
)
.
-
IX
ix
ix
81.50
2X
1
X
1
3X
IX
7X
2X
-
IX
-
2X
)
-
Jan.
Jan.
Jan.
Jan.
Feb.
Feb.
Feb.
Jan.
Jan.
IX iJan.
IX Jan.
Extra
Wheat.
1
1
1
1
1
1
1
15
15
20
15
......
......
Jan.31a
Jan.3la
Dec.30a
Dec.30a
Feb. 7a
Dec. 29
Dec. 31
Feb. 26
Jan.
4
4
Jan.
8
Jan.
Jan. 14
8
Jan.
Jan 10a
Dec. 28
Dec. 31
Dec. 31
Dec. 31
Jan. 14
Feb 16
Dec. 31
Jan. 14
Dec. 31
Feb.
I
Dec. 20
Jan. 31
Dec. 31
Jan.12a
Feb.
6
Jan.
5
Jan. 26
Jan. 26
Jan. 15a
Dec.31a
Jan. 16
Jan. 15
15
15
3
15
15
15
14
15
15
14
14
15
15
1
.
Holders of rec.
Holders of rec.
9
to
Jan.
Holders of rec.
Jan
1
to
Holders of rec.
Holders of rec.
Holders of rec.
Holders of rec.
Ian. 22
to
Holders of rec.
to
Jan. 17
Holders of rec.
Holders of rec.
Holders of rec.
Holders of rec.
On dem. Holders of
-
The
15
31
1
18
1
15
17
15
Miscellaneous.
American Cement (No. 21)
American Chicle, com. (monthly).
Common (extra)
Preferred (quar.)
91,035,000
1
1
Feb. 7a
Dec.30a
Feb.
1
1
Feb.
Dec. 31
Jan.21a
to
Feb.
of rec. Jan.
of rec. Jan.
to
Jan.
to
Jan.
of rec. Jan.
to
Jan
of rec. Jan.
of rec. Jan.
to
Feb.
to
Feb.
of rec. Jan.
of rec. Jan.
of rec. Jan.
Fire Insurance.
Home (No. 109)..
Central Coal A Coke, com. (quar.).
10764,000 279,965,000 229.376,700 3,770,000
1
15
1
1
14
14
6
Feb.
Holders
Holders
Jan.
1
Jan.
1
Holders
1
Jan.
Holders
Holders
Jan. 24
Jan. 24
Holders
Holders
Holders
People's National, Brooklyn (No. 1).
)
)
190S-09
1909-10.
15
1
15
15
15
Jan.
Jan.
Mch.
Mechanics’ National (special)
)
Since
Holders of rec
Holders of rec.
Holders of rec.
Holders of rec.
Holders of rec.
Holders of rec.
Holders of rec.
Holders of rec.
Holders of rec.
Holders of rec.
Holders of rec.
Holders of rec.
Holders of rec.
Holders of rec.
Holders of rec.
Dec. 25
to
Holders of rec.
Jan.
1
to
Holders of rec.
Holders of rec.
Holders of rec.
Holders of rec.
Holders of rec.
Holders of rec.
Dec. 21
to
Jan. 21
to
Holders of rec.
Dec. 21
to
Holders of rec.
Jan. 22
to
Dec. 11
to
Holders of rec.
Holders of rec.
Holders of rec.
Holders of rec
Holders of rec.
Holders of rec.
Holders of rec.
Holders 0! rec.
Holders of rec.
6
to
Jan.
15 Jan.
1
to
1
1
1
1
1
1
15
15
15
15
1
20
1
21
20
15
18
15
15
1
17
15
28
1
15
10
28
15
15
1
15
18
15
1
15
15
1
1
1
15
14
2
21
2
Copper, National (quar.) (No. 4)
Corn.
1909-10.
Feb.
Jan.
Jan.
Jan.
Feb.
Jan.
Feb.
Jan.
Jan.
Jan.
Feb.
Jan.
Feb.
Jan.
Feb.
Feb.
Jan.
Feb.
Feb.
Feb.
Jan.
Jan.
Jan.
3
.
Week
Jan. 8.
Tan.
IX
2X
3X
.
Exports.
1
2
1
6
6
283,144 5,722,527 1,899,560 55,789,335 2,198,152 11,419,620
220.449 6.220,085 2,179,153 79,430,388 1,581,619 13,246,754
Wheat.
Mch.
?eb.
dch.
Mch.
Feb.
Feb.
Feb.
Feb.
i.Ian.
ran.
Mch.
Ian
Feb.
Uch.
ran.
Ian.
Jan.
Jan.
Jan.20tf
Jan.
Jan.
Jan.
Jan.
Jan.
Dec.
Jan.
Jan.
Jan.
Jan.
13
18
15
10
8
17
15
15
..31
15
Jan. 31
Jan.
I
Jan. 21
Jan. 10a
Jan.
1
Banks.
Since
Week
Jan. 8.
bush.
1909.
bbls.
United Kingdom
Continent
So. A Cent. Amer._ 20.0S6
West Indies
26,601
Brit. No. Am. Cols.
125
Other Countries
174
Total
Total 1908-09
Week
Jan. 8.
bush.
IX
IX
2X
2X
2X
—
-Corn-
Since
July 1
2
2
2
3,603
12,549
71,712
42,495
-WheatSince
2
Railways Company General (quar.)
42,000
below:
as
Chicago & Alton RR., common_
Cumulative prior lien and panic, stock..
Chicago A Alton, preferred
Prior lien and participating stock
Cleve. Cln. Chic. A St. Louis, com
Preferred (quarterly)
Cuba RR., preferred
Delaware A Hudson Co. (quar.)
Delaware Lackawanna A West. (quar.).
Denver & Rio Grande, preferred
East Pennsylvania
Georgia RR. & Banking (quar.)—
Granite Ry
Great Northern (quar.)
Hocking Valley, common and preferred..
Kansas City Southern, pref. (quar.)
Lake Shore A Michigan Southern
Guaranteed stock(Mich.Sou.ANor.Ind.)
Little Schuylkill Nav., RR. A Coal..
Louisville A Nashville
Michigan Central
Mine Hill A Schuylkill Haven
Minneapolis A St. Louis, preferred..
Nashville Chattanooga & St. Louis...
N. Y. Central A Hud. River (quar.)
Norfolk A Western, preferred
Northern Central (No. 90)
Northern Pacific (quar.)
Plttsb. Cine. Chic. A St. Louis, common.
Public Service Investment, com. (No.
Preferred (No. 3).
75
The destination of these exports for the week and since
July 1 1909 is
IX
2
2
Jersey (quar.)
Pacific Coast Power (No. 4).._
1,899,560 2,198,152 283,144
2,179,153 1,581,619 220.449
3
2
Reading Company, common
St. Louis Southwestern, preferred..
Texas Central, preferred
White Pass A Yukon—
105.666
The exports
New York
IX
2X
—
Preferred
Canada Southern
Centred RR. of New
Extra
Receipts do not include grain passing through New Orleans for foreign ports
through bills of lading.
Exports from—
(quar.)
Pittsburgh <fc Lake Erie
*
•a
Atchison Topeka & Santa Fe, com.
Preferred
Baltimore & Ohio, common...
2
IX
Jan.
Ian.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan
Jan.
Feb.
Jan.
[Jan.
Jan.
Jan.
Feb.
Feb.
Jan.
Jan.
Jan
Jan.
Jan.
Jan.
Jan.
Feb.
Jan.
Feb.
April
April
Feb.
Jan.
Feb.
29 Jan.
29 Dec
1
1
22 Jan.
9
20
20
22 Jan. 13
1 Jan. 20
15 Jan. 20
1 Jan. 20
21 Jan
5
1
15 Jan.
15 Holders
15 Ian.
4
15 Dec 25
15 Holders
15 Holders
15 Holders
15 Dec. 25
19 Holders
15 Holders
15 Holders
15 Holders
15 Holders
15 Holders
15 Jan.
6
] Holders
15 Jan.
1
15 Jan.
1
15 Jan.
1
15 Holders
] Holders
] Holders
2(
15 Jan.
4
If Jan.
4
15 Holders
If Holders
3: Holders
21 1 Holders
] Jan. 22
25 Holders
] Holders
] Holders
■] Holders
] Holders
15 Holders
1 Jan. 16
Jan.
17
Jan.
1
to
Jan.
23
to
to
to
to
to
to
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
21
31
31
31
23
15
to
to
25
rec.
v
of
rec
Dec.31a
Jan. 16
Jan.
2
of rec. Dec. 31
of rec. Jan. 10
of rec. Jan. 10
to
5
Jan.
of rec. Jan.
8
of rec. Jan.
8
of rec. Jan.
8
8
of rec. Jan.
of rec. Jan.
8
of rec. Dec. 27
to
Jan. 16
of rec. Jan. 15a
to
Jan. 15
to
Jan. 15
to
Jan. 16
of rec. Jan. 13
of rec. Jan. 21
of rec. Jan. 21
to
to
to
Jan. 15
Jan. 15
to
of rec. Dec.31a
of rec. Jan. 3a
of rec. Jan. 10a
of reo. Jan. 8a
to
Jan. 31
of rec. Jan. 15
of rec. Jan. 15
rec. Feb. 28
rec. Feb. 28
of rec. Jan. 15
of rec. Jan. 14a
to
Feb.
1
of
of
150
THE CHRONICLE
Name of
Per
Cent.
Company.
When
Books Closed.
Payable.
Days Inclusive.
Miscellaneous—Continued.
/ lectric Company o America
/ ederal Sugar Refining,
pref. (guar.)
General Electric (quar.)
3%
Feb.
1%
{pn.
2
Jan.
Feb.
Jan.
Jan.
Jan.
Meh.
Mch.
Feb
Feb.
Jan.
Guanajuato Pow. A El., jlf.(qu.) (No.6)..
Hart>Ison-Walker Refract., pref. (quar-).
1%
1%
IHlnois Brick
1%
Intelnat. Buttonh. Mach, (quar.) (No.49)
1
International Nickel, common (quar.)._I
Cemmon (extra)
%
Preferred (quar)
1%
mternat. Steam Pump, pf.(qu.) (No. 43)
1%
a Rose Consolidated Mines
2
(quar.)
etalgh Coal A Navigation (special)
15 scr.
aesadhusetts Lighting Cos. (quar.)
1%
Extra
1%
Mexican Light A Power, Ltd., ordinary..
1
Mexican Telegraph (quar.)
2%
Michigan State Teleph., pref. (quar.)
1%
MInneap. Gen. Elec., com. (qu.) (No. 10)
1%
Preferred (No. 22)
3
National Biscuit, com. (quar.) (No. 45)
1%
National Carbon, com. (quar.)
1%
National Fireproofing, preferred
1
New England Telep. A Teleg. (quar.)
1%
Ntplssing Mines (quar.)
5
Extra
2%
Neva Scotia Steel A Coal, Ltd., com
1
Preferred (quar.)
2
Oklahoma Gas A Electric, pref. (quar.)..
1H
Omaha Electric Light A Power, preferred.
2%
Osceola Consolidated Mining
6
Otis Elevator, pref. (quar.)
1%
Pacific Coast Co., common (quar.)
1%
Pint preferred (quar.)
1%
_
...
Second preferred (quar.)
People’8 Gas Light A Coke (quar.)
1%
1H
1%
1%
Pittsburgh Coal, preferred..
Pope Manufacturing, preferred (quar.)..
Procter A Gamble, preferred (quar.)
Quaker Oats, common (quar.)
2
1%
%
Common (extra)
Realty Associates (No. 14).
Extra
San
3
2
1
Diego Cons. Gas A El., pref. (q
1%
1%
2%
Sean, Roebuck A Co., com. (quar.)
Securities Company
Sbawlnigan Water A Power (quar.).
1
1%
United Cigar Mfra.,
1
1
common
(quar.).
1%
2
2
United Fruit (quar.) (No. 42)
United Gas A Electric of New Jersey, prej
United Gas Improvement (quar.)
United States Realty A Improvement....
United States Rubber, 1st pref. (quar.)..
Second preferred (quar.)
U. 8. Smelt., Ref. A Min., com. (quar.)
2%
2
1%
2
1%
1
Preferred (quar.)
Va-Caro Chem., pref. (qu.) (No. 57)...
Vulcan Detinning, pref. (quar.)
Preferred (extra)
Wells, Fargo A Company
Extra
L
1%
2
1H
5
$300
2%
H
IH
1%
Western Union Telegraph (qu.) (No. 163)
Westtnghouse Elec. A Mfg. Co., pref. (qu)
White (J-G.)&Co.. Inc., pf.(qu.)(No. 27)
Mch
Jan.
Jan.
Jan.
Tan.
Feb.
Feb.
Feb.
Jan.
Jan,
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Feb.
Jan.
Jan.
Feb.
Feb.
Feb.
Feb.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Feb.
Jan.
Jan.
Feb.
Ian.
Jan.
Feb.
Feb.
Jan.
Jan.
Jan.
Feb,
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Feb.
Feb.
Jan.
Jan.
Feb.
3
31
15
1
29
15
15
1
1
1
1
20
1
15
15
15
15
1
1
1
15
Jan. 21
to
Holders of rec.
Holders of rec.
Jan. 21
to
Holders of rec.
Jan.
5
to
Holders c f r«c.
Feb 10
to
Feb 10
to
Jan
13
to
Jan. 21
to
Jan.
1
to
Holders of rec.
Holders of rec
Holders of rec.
Ian. 10
to
Holders of rec.
Ian. 19
to
Holders of rec.
Holders of rec.
Holders of rec.
Jan.
6
to
Holders of rec.
Holders of rec.
Jan.
1
to
Ian.
1
to
Jan.
1
to
Jan.
1
to
Jan.
1
to
Holders of rec.
3
Feb.
Jan. 28a
Dec. 4a
Feb.
1
Jan. 10
Jan. 16
Jan.
5
Mcb.
1
Mcb.
1
1
Feb.
1
Feb.
Jan. 16
Jan. 31
Jan. la
Jan. la
Jan. 15
Dec 31
Feb.
1
8
Jan.
Jan.
8
Dec.28a
15
20
Jan. 5a
15
Dec 31
20
Jan. 16
20
Jan. 16
15
Jan.
5
15
Jan.
5
15
Jan. 10
1
Jan. 20
26
15 Holders of rec Dec. 31
1 Ian. 22
to
1
Feb.
1 Jan. 22
to
Feb.
1
1 Jan. 22
to
Feb.
1
25 Holders of rec. Jan. 20
25 Holders of rec. Jan. 10
31 Holders of rec. Jan. 21
15 Holders of rec. Dec 31a
15 Holders of rec. Jan. 4a
15 Holders of rec. Jan. 4a
15 Holders of rec. Jan.
5
15 Holders of rec. Jan.
5
15 Holders of rec. Jan.
5
15 Holders ot rec. Jan.
3
15 Jan.
1
to
Jan
10
15 Holders of rec. Feb.
1
15 Jan.
1
to
Jan. 15
20 Holders of rec. Jan.
7
1 Holders of rec. Jan. 15
25 Jan. 16
to
Jan. 25
15 Holders of rec. Dec. 31
1 Jan. 27
to
3
Feb.
1 Holders of rec. Jan. 24
15 Holders of rec. Dec. 24
15 Jan.
1
to
Jan. 16
15 Holders of rec. Dec. 31
1 Holders of rec. Jan. 21
31 Jan. 16
to
Feb.
1
31 Jan. 16
to
Feb.
1
15 Holders of rec. Dec. 31
15 Holders of rec. Dec. 31
15 Jan.
1
to
Jan. 16
20 Holders of rec. Jan. 10
20 Holders of rec. Jan. 10
15 Jan.
4
to
Jan. 15
10 Holders of rec. Jan.
3
1 Jan. 21
to
Jan. 31
15 Holders of rec. Deo.20a
15 Jan.
6
to
Jan. 16
1 Holders of rec. Jan. 22
a Transfer books not closed,
b Less Income tax.
d Correction,
ot accumulated dividend. a Payable in common stock.
e
On
account
LXXXX.
Statement of New York City Clearing-House
Banks.—The
detailed statement below shows the condition of the New
York Clearing-House banks for the week
ending Jan. 8.
The figures for the separate banks are the
daily results.
In the
case
at the end of the week
are
averages of the
of the totals, the actual
figures
also given.
We orkU two ciphers (00) in dtt oases.
Banks.
Capital
00s omitted.
$
2,000,0
2,050,0
2,000.0
3,000,0
1,500,0
1,000,0
25,000,0
3,000,0
600.0
1,000,0
300,0
500,0
Bank of N. Y._
Manhattan Co.
Merchants'
Mechanics’
America
Phenlx..
City
Chemical
Merchants’ Ex.
Gallatin
Butch. A Drov.
Greenwich
Amer. Exch...
....
Commerce
Mercantile
....
People’s
Hanover
Citizens’ Cent..
Nassau
Market A Fult n
Metropolitan
5,095,1
15,694,3
2.570.8
897.6
1,026,2
477.5
11,101,1
1,486,6
464,8
1,668.0
1.392.9
5.254.1
7.504,0
9.912.5
1,000,0
2,000,0
3,000,0
1,500,0
3,000,0
250,0
3,000,0
1,000,0
10,000,0
2,000,0
250,0
500,0
750,0
5.000,0
100,0
200,0
200,0
1,000,0
1,000,0
250.0
1,000,0
200,0
1,000,0
1,000,0
1,000,0
1,000,0
1,000,0
2,000,0
1,000,0
..
Exchange.
Imp. & Traders’
Park
East River
Fourth
Second
First
Irving Nat. Ex.
Bowery
N. Y. County..
German-Amer
Chase
Fifth Avenue.
German Exch..
Germania
Lincoln
Garfield..
Fifth
.
.
Metropolis
1.693.7
....
West Side
Seaboard
Liberty
N. Y. Prod. Ex.
State
14th Street....
Copper
Coal A Iron....
105.2
3.543.1
1.899.3
19,808,6
1.516.3
802,0
1.642.4
667.5
7,040,4
2,069,9
894,0
1,006,5
1.408.9
1.147.1
483.5
2,020,2
1,139,0
1.821.6
2.704.4
705.4
863,0
334.5
2,834,3
326.3
26,155,0
803,0
1.330.7
907,0
13.259.2
2,682,0
620,0
901.7
3.800.9
1.850.6
699.7
1,037,0
940,0
4.153,0
3.105.7
2,138,0
3,953.0
945,0
5.778.4
807,0
Stocks.
5 Citizens Central Nat. Bank. 162H
320 Havana Tobacco Co. com..6)i-5
50 American Automobile Co.,
$50 each
$10 lot
75 Carbon Steel Co. com
$250 lot
100 Irving Nat. Exch. Bank
208
50 Washington Trust Co.
363%
50 National Park Bank.470%
33 Market A Fulton Nat.
Bank.260%
20 Mutual Bank
282
100 Federal Ins. Co. of N. J
150
1 Aeolian Weber Plano A Pi¬
anola Co. pref.
90
1 Aeolian Weber Plano A Pi¬
anola Co. com
41
20 Sar&macca Co
$50 lot
10 New Jersey Zinc Co
410
200 Phenlx Ins. Co. of Bklyn._.270
it.OOOCerro Colorado Mining Co.,
$1 each
$5 lot.
325 Brooklyn City RR. Co
198%
25 Fifth Avenue Trust Co..425-435
r I 11 Importers’ A Traders’ Nat.
Bank
565%-569%
38
90
27
20
25
2
50
9
Stocks. •
Standard Gas Lt. Co., com. 56
Amer. Ex. Nat. Bank. .255-255%
Bank of N. Y., N.B.A.329%-330
Bank of Manhattan Co..-.351
Lawyers Title Ins. A Tr. Co.310
United States Trust Co... .1260
Columbia Trust Co
326
Mechanics’ National Bank..270
Actual figures
January
1931
22%
$5,400 Standard Cordage Co. adjust.
5s. 1931
3%
$2,500 N. Y. Athletic Club 2d 5s,
1910, A. AO...
94 A Int.
$25,000 Santa Cecilia Sugar Co. 1st
6s, with accrued int. from Aug
1907
125 Santa Cecilia Sugar Co
$30,000 Cuba Hardwood Co. lstV$18.6s, Trust Co. cert, of deposit
500
150 Fidelity Comm. A
Trading Co. lot,
voting trust cert., $100 each
8
The State
Week
1910.
Montreal
Toronto
Winnipeg
Vancouver
Ottawa
Quebec
Halifax
Hamilton..
St. John
London
Calgary
Victoria
Edmonton
Re^fina
Total "Canada.
1909.
Inc. or
Dec.
$
$
%
40,401,983
29,388,746 + 37.5
39,204,995
31,586,958 + 24.1
19,285,320
14,522,161 + 32.8
6,454,128
4,162,886 + 55.1
3,454,106
2,943,410 + 17.4
2,177,498
2,103,693
+3.5
2,242,443
2,010,384 + 11.5
2,579,837
1,771,424 + 45.6
1,737,052
1,599,627
+ 8.6
1,720,489
1,769,702
—2.8
2,310,949
1,481,553 + 56.0
1,839,944
1,007,446 +82.6
1,208,843
11,097,675 + 10.1
932,834 Not Included in total
124,617,587
95,445,665
+30.6
.
1,999,0
1,475,0
91.4
1,916,0
574,0
2.650.5
1.247.4
50,0
665.3
209.4
2.702.5
1,230,2
500.0
528.9
784,3
268,2
285.2
1,815,8
251,0
1.502,0
879.5
220.2
282,0
615.9
355.8
634,0
24.0
26.9
22.8
25.0
23.844.3 26.5
112.660.6
10.652,6
3.635.5
7.179.7
2.445.2
69,002,5
21,766,1
7,027,7
7.555.3
27.2
26.4
27.8
24.6
25.1
25.6
26.1
24.1
26.7
25.4
25.3
23,584,0 25.4
87,191.0 24.6
1.885.5 26.7
21,371.0 27.0
12,296,0 25.0
86.211.4 26.2
22.880.9 25.5
3,865,0 22.0
8,044,8 25.2
4.333.6 25.7
73.829.5 21.6
15.110.8 25.8
4,300.0 26.0
5.533.8 25.8
18,004,5 25.4
8,104,5 26.1
3.556.2 24.8
11.640.9 24.5
4,729,0 25.2
21,258,0 26.0
15,203,0 26.2
9,311,0
17,318,0
£5.3
6.147.3 25 !s
25.223.5 24.3
5,714,0 25.2
furnishes weekly
companies under its
now
These returns cover all the institutions of this class
State, but the figures are compiled so as to
distinguish between the results for New York City (Greater
New York) and those for the rest of the State, as
per the
following:
in the whole
STATE BANKS AND TRUST COMPANIES.
Week
ended Jan.
State Banks
Trust Cos
State Banks
Trust Cos.
in
in
outside of
outside of
Greater N. Y. Greater N. Y Greater N. Y. Greater N. Y.
8.
Capital
as of
Surplus
as
$
26,075,000
63,425,000
*8,708,000
*7,725,000
38,586,700
167,632,400
*10,585,699
*10,155,540
296,535,800 1,091,667,300
+ 4.944,500 —20.248.500
88.788,000
—251,700
133,165,300
—456,300
94,025.700
1,756,400
142,044,100
+ 1,383,200
19,491.500
1,287,800
+ 1.292,000
Nov. 16
of Nov. 16
Loans and Investments..
Change from last week.
Specie
Chang** from last, week
Legal-tenders A- hk. notes
Change from last, week
Reserve
on deposits
Change from last week.
P. C.
$
47.025.100
+275,900
117,637,700
25,107,800
+541,200
13.960.600
+ 538,400
$
+
90,579,000
—2,475,200
+
reserve to deposits
Percentage last week..
.
27.3%
28.2%
S
+ 1,453,700
338.730,800 1,133.537,500
+3,403,900
—2,721,200
+ Increase over last week.
ending January 8.
4,927,0
6,483,0
6,721,8
2.399.1
8;076,9
charge.
Change from last week.
Clearings at—
326.8
1.116.5
837,0
239.7
30.0
157.659.5 25.2
27,231,0 26.2
1182.477.2 236.894.3 69.900,6 1168,982,7 26.2
Banking Department also
Deposits
CLEARING-HOUSE RETURNS.
Gan&dian Bank Clearings.—The clearings for the week end¬
ing January 8 Rt Canadian cities, in comparison with the same
week of 1909, show an increase in the
aggregate of 30.6%.
200,0
1,591,6
9,582,9
861.8
440.2
998,9
131.5
7,356,0
25.1
23.6
26.3
On the basis of averages, circulation amounted to
$52,411,600 and United States
deposits (included in deposits) to $1,607,000: actual figures January 8. circulation,
$52,203,900: United States deposits. $1,627,200.
Bonds.
$6,000 Standard Cordage Co. 1st 5s,
482.5
90.3
%
26.1
25.7
17,210,0
33.350.0
17,576,0
25,733.0
23.469.9
7,419,0
Totals, Average 127,350.0 180.024,4 1197,996,6 230,401,0 69,132.6 1179,073,1 25.4
returns of the State banks and trust
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:
$
1,030,0
1,773,0
1.457,0
2,536,0
1,821,8
319,0
5,015,0
2,095,9
168.7
23.425.6
4.364.9
7,774,0
1,915,0
170,734,5 34,686,3
28,772,0
5,000.4
6,538,3
1.391.7
8,412,0
1.326.3
2.317.2
455.3
7.285.9
1.822.3
30,072,2
4.688.1
135,874,2 20.949,9
14,028.1
1.953.2
3.878.2
670.4
6.892.3
767,3
1.915.9
483.2
61.403.1 10.253.1
22,088.5
6.330.4
6,388,8
7.798.4
13.204.6
41,839.0
25,778,0
4,010,0
78,967.0 20,057 ,Q
1.593.5
412,9
19,667,0
3,857,0
12,626,0
2,494,0
98,007,9 19,950.5
21.512.6
4,589,1
3,786,0
7,906,0
4,334,0
72,036,1
13.511.2
3,600,0
4.768.4
16.499.2
7.951.7
3,440,2
11,630,4
4,401,0
18,394,0
15.835,1
7.835.7
14,175,0
5.499.4
25,092,4
6.795.0
Deposits. Re¬
Average. s’ve,
$
3,473,0
6.797,0
2,966,0
3,544,0
17,808,0
3.851.2
5,894,9
685.5
28,853,0
6,183,0
568.2
2.443.1
153.4
777.4
Specie.
Legals.
Average. Average.
$
19,348,0
29,400,0
4.126.6
500,0
450,0
200,0
3,000,0
2,550,0
500,0
Chatham
Loans.
Average.
$
3.465.5
5,000,0
25.000,0
3,000,0
Pacific
Corn
Surplus.
,
137.072.700
+ 2,233,400
15.6%
15.4%
—Decrease from last week.
21.4%
20.3%
*As of
19,329,900
14.2%
13.4%
September 14.
Note.—"Surplus” includes
1908.
$
28,814,888
24,266,208
14,096,302
3,676,844
1907.
$
32,379,028
1,312,181
29,570,344
12,295,123
3,757,418
3,240,236
2,027,529
2,385,470
1.669.369
1.555,268
1,442,922
1.278.369
1,013,092
813,422
86,174,722
94,427.590
3,187,755
2,301,752
1,898,931
1,544,028
1,501,614
1,421,588
1,256,658
895,973
all undivided profits
“Reserve on deposits” In¬
cludes, for both trust companies and State banks, not only cash items, but amounts
due from reserve agents.
Trust companies In New York State are required
by
law to keep a reserve proportionate to their deposits, the ratio
varying according
to location as shown below.
The percentage of reserve required is computed on
the aggregate of deposits, exclusive of monevs held In trust and not
payable within
thirty days, and also exclusive of time deposits not payable within 30 days, repre¬
sented by certificates, and also exclusive of deposits secured by bonds of the
State
of New York.
The State banks are likewise required to keep a reserve
varying
according to location, but in this case the reserve Is computed on the whole
amount
of deposits, exclusive of deposits secured by bonds of the Slate of New
York.
Reserve
Required for Trust Companies
and State Banks.
Location—
—Trust Cos.—
Total
Of
Reserve
which
—State Banks—
Total
Of
Reserve
which
Required, in Cash.Required. in Cash
Borough
-15%
15%
25%
15%
Brooklyn Borough(without branches In Manhat.) .15%
10%
20%
10%
Other Boroughs(without branches In Manhattan) .15%
10%
7 H%
15%
Any Borough with branches In Manhattan
-15%
15%
25%
15%
Elsewhere In State
-10%
5%
15%
«%
Manhattan
j^n. 15
THE CHRONICLE
mm\
Banking Department alsb undertakes to present
separate figures indicating the totals for the State banks and
trust companies in the Greater New York not in the Clearing
House. These figures are shown in tlio table below, as are
also the results (both actual and average) for the ClearingHouse banks. In addition, we have combined each corre¬
sponding item in the two statements, thus affording an aggre¬
gate for the whole of the banks and trust companies in the
We omit two cipher* (00) <« olt mete (loom.
The
Greater New York.
Capital
and
Banka.
Legate.
Specie,
Loans.
Boston.
Dec. 18-Dec. 24..
Dec. 31..
8_.
Jan.
PbUa.
Dec. 18.
Dec. 24..
Dec. 31..
Jan.
8_.
.
K
f
180,345,0
189,256,0
8
21.881.0
21.554.0
40,300,0
188,936.0
190,290,0
239.143.0
21.698.0
23,299,0 4.726,0 241,670.0
56.315.0
56.315,0
56,315,0
56,315,0
258,565,0
258,694,0
258.618.0
259.350.0
i
$
40,300,0
40.300,0
40.300,0
Circu¬
lation.
pepoeko . a
Surplus.
%
4.605.0
$
235,348,0
235.360.0
4.387.0
4,631,0
88,3i +.0
06.OC 18.6
66.74KfcO
69.4C11.0
r,
Clearings.
%
7,119,0
7.083.0
178*824,7
7,089.0
7.124,0
149,704,3
186.145.6
221,566,9
308.333.0 18,796.0
304.814,0 16.802.0
603.852.0 16.819.0
309.307.0 16,815,0
184,068.6
134.406,2
146,632.1
202.189.6
NEW YORK CITY BANKS AND TRUST COMPANIES.
a
Week ended Jan.
Clear.-Home State Bank$ A
Banks.
Trust Cot. not
in C.-H. Aver
Average.
Clear .-House
Bankt.
.
ActualFigwre*
%
$
Total of all
Banks A Trust
Cos. Average
$
$
Capital as of Nov. 16..
127,350,000
127,350,000
73.550.000
200,900,000
Surplus as of Nov. 16..
180,024,400
180,024.400
176,431,300
356.455,700
Loans and investments 1,182.477,200
1,197.996,600
+3,385.900
Change from last week —14,120.800
Including Government deposits and the Item "due to other
deposits amounted to S3.023.000 oa January 8
Boston Government
$3,006,000 on December 31 1909.
Imports and Exports for the Week.—The following are
for the week ending Jan. 8; also
of the first week in January:
the imports at New York
totals since the beginning
FOREIGN IMPORTS AT NEW YORK.
1,187,302,200 2,385,298,800
—19,644,600 —16,258,700
1,168,982,700 1,179,073,100 al. 147,516,800 2,326,589,900
Deposits
+ 165,600
—7,175,100
—2.479,700
+7,340,700
Change from last week
Specie
Change from last week
236.894,300
+8,797,000
230,401,000
—989,400
6124.160.900
+ 1,390,700
354,561,900
+ 401,300
Legal-tenders
Change from last week
69,900,600
+ 1,643.200
69,132,600
+ 1.401.700
c22.682.400
+603,600
91,815,000
+2,005,300
Aggr'te money holdings
Change from last week
306,794,900
+ 10,440,200
299.533,600
+412.300
146,843,300
+ 1,994,300
446,376,900
+2,406,600
21,746.200
21,746,200
—3,146,000
1910.
For Week.
Dry Goods
General Merchandise.
_
Total 1 week
other bks. & trust cos.
—
—3,146,000
Change from last week
+ 10,440,200
Percentage to deposits
requiring reserve
Percentage last week.
a
deposits amounted to $1,248,021,800 on Jan. 8, a decrease of $4,719,400 from last
week.
In the case of the Clearing-House banks, the deposits are “net” both for
the average and the actual figures,
b Includes bank notes, c Of this amount
State banks held $15,345,000 and trust companies $131,498,300.
The averages of the New York Clearing-House banka
combined with those for the State banks and trust companies
In Greater New York outside of the Clearing House compare
as follows for a series of weeks past:
COMBINED RESULTS OF BANKS AND TRU8T COMPANIES IN
GREATER NEW YORK.
We omit two
Tot. Money Entire Re*,
Investments.
Deposits.
Specie.
8
$
%
2.428.526.4 2368.257.5
Nov. 18..
Nov. 20.. 2,408.090.7 2.338.048.8
Nov. 27.. 2.389.978.6 2.310.511.4
Dee.
4.. 2.381.234.4 2.296.068.3
Dee.
Dec.
Dee.
Dee.
J«B.
2.371.455.0
2.381.734.9
2.400.207.6
31.. 2.401.557.5
8— 2.385,2983
111824-
2.287.814.6
2.306,845.1
2,327.891.3
2*326.424,3
2326,589.9
363.346.7
359.133.4
354.661.9
348.861.8
348.630.4
352.494.6
356.082.2
354.160.6
354.561.9
Holdings.
Legals
on
$
454.427,0
89.784.9
89.617.2
91.137.3
91.157.5
93.113.6
91,086.3
89.809.7
91.815.0
448,918,3
444.279.1
439.999.1
439.787.9
445.608.2
447.168.5
443.970.3
446.376.9
475.809.2
471,633.4
465.572.1
461.180.6
461.271,0
467.258.3
468.252.6
468,862 5
468.123.1
Reports of Non-Member Banks.—The following is the
statement of condition of the non-member banks for the
week ending Jan. 8 1909, based on average daily results:
We omit two
cipher* (00) in aU the** figures.
Legal
Tender
Loans.
Disc'd
Banks.
Can¬
Snr-
on.
plus.
and
Invest¬
Sped*.
Note*.
ment*.
City.
Boroughs of
and
Bank
ing
Agent.
$
100,0
200.0
400 0
300,0
200,0
Fidelity
Jefferson...
500.0
250,0
Mt. MorrisMutual
200,0
Plata
100,0
23d Ward-200,0
Uii.Ex.Nat. 1,000,0
YorkvOle
100,0
New Neth’d
200,0
Batt.Pk.Nat
200,0
Aetna Nat.
300,0
Borough of
Brooklyn.
200,0
Broadway
Mfrs.’ Nat.
252,0
Mechanics’. 1,000,0
Nassau Nat.
750,0
Nat. City..
300,0
North Side.
200,0
Jersey City.
Columbia
-
-
...
-
..
.
First Nat...
4(fo.O
Hud.Co.Nat
250,0
Third Nat..
Hoboken.
First Nat..
Second Nat.
200,0
Tot. Jan. 8
Tot. Dec. 31
Tot. Dec. 24
220,0
125,0
$
$
$
40,0
145,0
1,137,0
170,8
27,4
1,472,6
490,4
5.315,1
726,1
684,0
623,0
6,386,0
89,7
69,1
1,048,1
548.5
18,4
3,598,3
56,1
459.3
2,595,0
595,1
35,8
3,768,4
446,0
329,0
4.116,0
60,2
204,3
1,795,5
8,570,1 1,187,0 1,000,0
778,4
50,5
4,023,7
209,0
72,0
2,236,0
196,1
32,2
1,179.1
409.2
25,6
2,037,5
$
247,4
151,8
311,0
458,9
159,3
586,0
287.6
328,5
412,4
103,9
959,3
446,0
243,5
150,3
Net
Other
Banks, Deposit*.
Ac.
315,9
541,1 3,381,3
798,7 5,910,0
934,7 10.536,7
966,4 6.555,0
607,5 3,884,0
144,0 1,869,3
-
320,6
538,0
124,0
140,5
379,0
223.9
1,121.0
302,0
521,0
95,6
29,7
545.3
1,237,1
745,6
384,8
4,526,3
2,773,4
2,144,5
335,5
136,5
77,5
466,7
54,8
118,2
023 7
2,581,1
2,589,5
119,8
78,2
17,2
88.0
249.6
%
$
134,0
62,2
741,9
601,0
121,8
257,5
314,9
354.0
701,0
257,3
94,9
163,8
232,6
312,0
127,5
5,2
»
242,4
842,5
1,271,7
1,152,0
787,0
199,8
-
-
•
-
_
253,5
10,0
204,6
306,0
49,3
121.1
*
_
33,2
$
1,120,0
1,626,0
6,901,1
7.749,0
1,080,1
$18,517,209
$15,344,424
$11,174,048
$17,150,390
(
THE WEEK.
3,345,6
4,302,0
5,057,0
2,128,4
8.666,1
5,148,8
2,356,0
$10,078,871
$10,950,993
$15,434,749
$12,981,302
$10,078,871
$10,960,993
$16,434,749
$12,981,302
_
EXPORTS AND IMPORTS OF SPECIE AT
NEW YORK.
Import*.
Export*.
Qold.
Great Britain
Week.
Simee Jan. 1
Week.
-
West Indies
Mexico
South America
All other countries
Since Jan. 1
$384
5384
-
Silver.
$25,000
2,354
2.354
1.000.666
1.660.666
*48.556
11,942
48,556
11.942
$1,064,000
5,500
$1,025,000
5.025
19.925
$63,236
178,615
$.633,385
$63,236
178,615
3,633.385
$876,568
$66
$66
'*’"257
257
$1,343,048 !
26.200
Great Britain
France
GersLany
West Indies
Mexico
South America
A14 other countries
Total 1910
Total 1909Total 1908
$64,000
—
Total 1910
Total 1909
Total 1908
28,200
-
:
"
-
12,733
"i'2'733
832
832
—
-
-
-
-----
Of the above
$1,369,248
908,400
887.57$
imports
for
$902,768
882,275
884*84$ e
the
$13388
89,457
.
151*880
$13,888
89.457
151*680
week in 1910,; 350
American gold coin and ... American silver coin.
Of the exports during the same time, $1,064,000 were Ameri¬
can gold coin and $.. . were American silver coin.
funking and financial.
79.6 3.814,3
141,9 6,611,1
249,8 13,418,5
6,683,0
245,0 5,296,0
108,5 2,171,9
7,424.7
2,65Q,6
2,596,9
111,7
2,210,0
3,036,6
236,8
INVESTMENT SECURITIES
Our eight-pace circular No. 687 describes
Investment bonds yielding about 4K to SK%.
8,147.0 12,395,9 96,029,5 7,217,0 8.394.8 12,845,9 3,648,8 112172,8
8,147,0 12,395,9 95,830,8 7,095,0 .8,318,0 12,440,9 2,838,4 110080,9
8,147,0 ^2,395,9 95,191,7 7,176,4 8,098,8 10,636,8 3,302,2 107824,7
several Issues of sound
Spencer Trask & Co.
WILLIAM AND PINE STS..
NEW YORK
Branch offices: Chicago, ILL., Boston. Mass.. Albany. N. Y.
1,107,7
1,890,1
Moffat
White
&
BANKERS
6
Members New York Stock Exchange
THE ROOKERY
NASSAU STREET.
NEW YORK
CHICAGO
BANKING and EXCHANGE of every description In connection
EXPORTS &
with
IMPORTS
International Banking Corporation
60 Wall St.. New York.
CAPITAL & SURPLUS. $6,500,000
BRANCHES and AGENCIES throughout the WORLD.
THE INTERNATIONAL
Boston and Philadelphia Banks.—Below is a summary of
the weekly totals of the Clearing-House banks of Boston
and Philadelphia.
1907.
1908.
1909.
1909 and 1908:
3,781.3
2,890,9 1,120,0
201,7
265,0
16,0
639,7
149,1
84,3
13,577,891
The following table shows the exports and imports of
specie at the port of New York for the week ending Jan. 8
and since Jan. 1 1910, and for the corresponding periods in
N. Y.
Man.ABrx.
Wash. Hgts
Century
Colonial ..u
$3,572,499
7.247,26*2
were
Deposit with—
Clear¬
$17,150,390
$3,920,786
Deposits
$
$
91.080.3
911.174,048
$3,977,289
11.367.135
riprmanv
ciphers (00) in aU these figures.
Loan§ and
Week
Ended.
__
Total 1 week
+ Increase over last week.
— Decrease from last week.
These are the deposits alter eliminating the item "Due from reserve depositories
and other banks and trust companies in New York City”; with this item Included,
r
$15,344,424
$3,296,924
15,210.285
1910.
Previously reported
4,765,325
14.549,225
$3,572,499
13.577.891
EXPORTS FROM NEW YORK FOR
For the week
16.9%
17.2%
25.43%
25.55%
26.27%
25.33%
Surplus reserve
—1.151,700
63,926.786
7,247,282
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. 8 and from Jan. 1 to date:
468,123,100
—739,400
168,589.500
299,533,600
+ 412,300
306,794,900
Total reserve
Change from last week
63.077.289
11.367,136
Since January 1.
Dry Goods
General Merchandise..
1907.
1908.
1909.
$3,296,924
15.220,285
-
.
Money on deposit with
banks.'* At
1910. against
BANK
Organized under the Laws of N. Y. State.
60 Wall St., New
Accounts invited.
Interest paid on Term Deposits.
THOMAS H. HUBBARD President.
York.
15*
THE CHRONICLE
(Vol.
premium." San- Francisco* 50c. -per
Montreal, 31 %c. per $1,000 premium.
7Wall Street, Friday Night, Jan* 14 1910.
The Money Market and Financial Situation
Notwithsta ding jthe fact that
money-market conditions at home
/
and abroad
are
easier, and that the
tributed oh Jan. 1!
are now
enormous sums dis¬
available for re-investment, the
security markets have again displayed
al weakness,
unus
and prices ^ e substantially lower.. Perhaps the precipitous
decline in! cotton had a somewhat depressing effect at the
Stock Exchange, but one must look elsewhere for the cause
of the te
dency to caution now existing in financial circles.
Supreme Court decision sustaining the Inter-State Com¬
merce Commission in the matter of its
authority in certain
railway affairs and further evidence Of the purposes of the
National Executive with regard to corporate interests have
attracted a good deal of attention and caused considerable
discussionj in Wall Street. It seems quite logical that in¬
vestors should hesitate to buy securities the future value of
which is likely to be
impaired in the ways indicated.
An authoritative review of the iron and steel industry re¬
ports that orders for railway equipment and steel rails are
disappointing. This fact suggests the inquiry whether rail¬
way officials are also moving with caution in the matter of
futur commitments, an attitude which does not seem to be
warranted by the general industrial situation.
We have referred above to easier money-market conditions.
As evidence of this, the Bank of England reports a largely
increased percentage of reserve, and call-loan rates in this
market dropped temporarily to 3%, the lowest in weeks.
The open market rates for call loans at the Stock Exchange
during the week on stock and bond collaterals have ranged
from 33^ to 6%. To-day’s rates on call were 3
@4%.
Commercial paper quoted at 4}/%@5% for 60 to 90-day en¬
dorsements, 4^@5% for prime 4 to 6 months’ single names
and 5@5^% for good single names.
The Bank of England weekly statement on Thursday
showed an increase in bullion of £1,047,145 and the percent¬
age of reserve to liabilities was 47.54, against 39.40 last week.
The rate of discount remains unchanged at 4%, as fixed
A
„
Jan. 6. The Bank of France shows an increase of 675,000
francs gold and a decrease of 1,550,000 francs silver.
NEW YORK CITY CLEARING-HOUSE BANKS.
1910.
Capital
Surplus
----
1909.
1908.
Averages for
week ending
Differences
from
Jan. 8.
Averages for
week ending
Averages for
week ending
previous week.
Jan. 9.
Jan. 11.
$
%
$
$
127.350,000
180,024,400
\
126,350,000
165,447.700
Reserve held
299,533,600 Inc.
294,768,275 Inc.
412,300
1,835,175
362.280.400
339,587,450
268,996,800
262,912,750
Surplus reserve.....
4,765,325 Dec.
1,422.875
22,692,950
6,084,050
Surplus excl. U. S. dep.
5,167,075 Dec.
1,424,200
24,890,750
24,377,225
25% of deposits..
generally lower: Fluctuations
have, however, been within a narrow range, usually limited
to fractions, the
exceptions being convertible issues, which
moved in sympathy with shares.
J
.
Note.—The Clearing House now issues a statement weekly showing the total
of the actual figures on Saturday morning.
These figures, together with the returns
6f separate banks, also the summary issued by the State
Banking Department,
showing the condition of State banks and trust companies not reporting to the
Clearing House, appear on the second page preceding.
Foreign Exchange.—Easier discount rates abroad have
prevented an advance in foreign exchange rates here
this week.
Supplies of remittance continue unusually light.
To-day’s (Friday’s) nominal rates for sterling exchange
were 4 84)^ for sixty day and 4
87^ for sight. To-day’s
(Friday’s) actual rates for sterling exchange were 4 84 @
4 8410 for sixty days, 4 8685@4 8690 for cheques and 4 8725
@4 8730 for cables. Commercial on anks 4 8370@4 8380
and documents for payment 4 82
@4 83%. C tton for
payment 4 82%@4 83, grain or payment 4 834 83%.
To-day’s (Friday’s) actual rates for Paris bankers’ francs
were 5 18% less 1-16@5 18% for 1
ng and 5 16% less 1-32
@5 16% for short. Germany bankers’ marks were 94%@
94% for long and 95 -16 less 1-32@95 5-16 for shorts Am¬
sterdam bankers’ guilders were 40 17@40 19 for short.
Exchange at Paris on London, 25f. 18c.; week’s range,
25f. 19c. high aiid 25f. 17c. low.
Exchange at Berlin on London, 20m. 45%pf.; week’s
range, 20in. 4 %pf. high and 20m. 45pf. low.
The range of foreign exchange for the week follows:
not
,
United States Bonds.—No sales of Government bonds have
been reported at the Board this week. 1 The
following are
the daily closing quotations;
for yearly rpnge see third page
following.
V
.-rVj
'
(
interest
Periods
2s,
2s:
3s,
3s,
3s,
1930
19301.
1908-18
1908-18
1908-18
v
.coupon Q—Jan
registered Q—Feb
l._ coupon Q—Feb
small coupon Q
Feb
1925
registered Q—Feb
1925
coupon Q—Feb
1936.Panama Canal regls Q—Feb
1938.Panama Canal regls Q—Nov
4s,
4s,
2s,
2s,
*
Jan.
8
Jan,
10
registered Q—Jan *101
*101
*101 ; *101
♦ioi % *101%
*101% *101 %
Jan.
11
Jan.
12
H*
*101% *101% *101%
*114% *114% *114%
*115
*115
Jan.
14
*100% *100% *100%
** H-» OQO *-©"
«
*
Jan.
13
*100% *100% *100%
*1012* *101% *101%
*115
*Il4%
*115
*114% *114%
*114%
*115
*100% *100% *100% *100% *100% *100
*100% *100% *100 % *100% *100% *100
This is the price bid at the morning board; no sale was made.
Railroad and Miscellaneous Stocks.—As stated
stock market has continued weak.
have participated in the downward
All
classes
above, the
of shares
movement, which added
an average of from 4 to 6
points to the decline noted last
As was the case then, Rock Island led the
week.
early
movement, dropping below 43, a loss of over 5 points. St.
Paul also declined nearly 8 points, Union Pacific
8, Southern
Pacific over 6 and New York Central nearly 5.
Reading held
relatively strong throughout until to-day, when it lost nearly
4 points in addition to the dividend.
Results in the industrial list are generally of a similar char¬
acter.
U. S. Express is exceptional in an advance,
early in
the week, of 25 points, and a subsequent decline of 20.
La¬
clede Gas has declined nearly 8 points, Consolidated Gas
8%,
Smelting & Refining over 7, General Electric 6% and Amal¬
gamated Copper 5.
For daily volume of business see page 162
The following sales have occurred this week of shares not
represented in our detailed list on the pages which follow:
.
Sales
Range for Week.
for
Week.
3,385,900 1,297,035,700
85,800
50,254,200
7,340,700 1,358.349,800
5,300
8,791,200
989,400
279.129.400
1,401,700
83,151,000
premium.
Transactions in railway bonds have been on a smaller, scale
than for a long time past—indeed, not since
early Septem¬
ber have they aggregated so small an
amount—and, as in
the stock market, prices are
<
Loans and discounts... 1,197,996,600 Inc.
Circulation
52.411.600 Dec.
Net deposits
1,179,073,100 Inc.
U. S. dep. (incl. above)
1.607,000 Dec.
Specie
203,401,000 Dec.
69.132.600 Inc.
Legal tenders
$1,000
State and Railroad Bonds.;—Sales of State bonds at the
Board $25,000 Virginia 6s def. trust
receipts at 50 to 53.
STOCKS.
Week ending Jan. 12.
129,100,000
163,396,900
1,117,149,600
72.295.300
1,051,651,000
73,172,700
206,732.500
62.264.300
mxx.
Lowest.
Amer Telegraph <fc Cable
Buff Rochester & Pitts..
27 76
100 106
Preferred
100 133
Cent & So Amer Teleg..
15 120
Chic & N W rights
14,450 14%
Comstock Tunnel 1st 4s $3,000 20
Colorado Fuel & I, pref.
200 115
E I du Pont Powd, pref.
7 88
Evansv & Terre Haute..
100 58
General Chemical
600 95
Preferred
15 103
Homestake Mining
400 82
Kanawha & Mich tr rets.
255 55
3
Manhattan Beach
10
N Y Cent & Hud R rights 4,214
6
N Y N H & H subscrip
rects 1st paid
2,200 147%
New York Dock, pref...
15 83%
Ontario Silver Mining—
410
2%
_
Pennsylvania subscrip
receipts 1st paid
Peoria & Eastern
B.pnssplapr A Saratoga.
Rutland, pref
...
St. Jos & Gd Isld 1st pref
South Porto Rico Sugar.
Preferred
Twin City R T, pref
U S Rubber, rights
West Md warr’ts 4th paid
—
12 77
10 106
14 133
14 120
Jan 14 16
8 20
Jan
Jan 12 116
8 88
Jan
Jan 14 58
Jan 12 96
Jan 13 104
Jan 10 85
Jan 12 55
3
Jan 11
6%
Jan
8
Jan
Jan
Jan
Jan
132% Jan
25% Jan
5,865
% Jan
50% Jan
400
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jen
Jan
Jan
Jim
Jan
Range Jot Year 1909.
Lowest.
12 75
10 90
14 130
14 105
8 15%
12 15
12 67
8 87%
14 60
12 61
13 98%
11 73%
12 50
11
2%
8 5.68%
Jan
8 147%
Jan 11 148
8 83% Jan
8 75
Jan
2
Jan 12
2% Jan 12
200
200
100
100
100
147
100
200
30
55
83
113
200 145
Highest.
Jan
Jan
Jan
Jan
Jan
Jan
11
13
12
11
14
10
12
13
8
13
132% Jan
28
200
30
55
83
113
145
Jan
Jan
Jan
Jan
Jan
Jan
Jan
% Jan
51% Jan
11 134
10 23%
12
11 28
14 49%
10 79%
12 113
13 125
11
%
10 48
Feb
Highest.
85
Sept
Jan;105
Dec
June 133
July
Jan 115
June
Dec 16% Dec
Mch 24
May
Mchl 15
Nov
Nov 88
Nov
July 60
July
Jan 95
Aug
Jan 108
Aug
.
Nov 94% Apr
May 61
July
Jan
5% June
Dec
6% Dec
Dec
Jan
Oct
149%
82%
Aug
5%
Jan
Dec 134
Feb 28
Dec
Dec
Dec
Mch 38% June
Mch 60% Dec
Dec 83
Dec
Dec 115
Dec
145
Nov
May
Dec
% Dec
Dec 55
Dec
Outside Market.—Weakness has been the chief character¬
istic of the “curb” market for the period closing to-night.
Business has been on a reduced scale, while prices have
Boston Consolidated, after an ad¬
moved to lower levels.
vance from 21% to 22, dropped to 20% and rose to 20%.
To-day it sold down to 20. Britis Columbia moved down
Coalition lost over a point to 26%.
% to 12% and fell to 11 %. Greene
Cananea improved from 11% to 11% and reacted to 10%.
Miami went up about a point to 28%, then sank to 25%.
Nevada Consolidated rose from 26% to 27% and fell to 25%,
the close to-day being at 25%.
Ohio Copper sold up from
5% to 5% and weakened to 4 13-16. United Copper com¬
mon was traded in down from 8% to 7% and up to 8%, the
close to-day being at 8.
Sterling, Actual—
Sixty Days.
Kerr Lake went up from 10% to
Cheques.
Cables.
4 8695
4 8740
High for tae week
: .4 8440
10 15-16 and down to 9%; with the final quotation to-day
4 8665
Low for-the week
4 8390
4 8715
Parts Bankers’ Francs—
9%. Nipissing advanced from 10% to 10% and weakened
Hlfh.for the.week
‘>18% less 1-32 5 16% less "-?.*> 5 1674
to 10.
in industrials, American Tobacoo was active, losing
Low for the week...*..
5 10
less 1-13
1674 less 1-16 5 16>4 less ”-32
4
points to 417, then selling up to 427. Standard Oil opened
Germany Bankers’ Marks—
"
HUh fdr the weak
94% ;
the week at 660 and closed to-day at the same figure, having
9534
9534
95 8-1»less 1-32 95J4
Low for the week...—.— .94%
sold as low as 659% and up to 662.
United CSgar flfrs. com¬
Amsterdam Bankets' Guilders— J
mon gained 2 points to 94 but ran down to 89, witji transac¬
4034 less 1-16
High fdr me week rvTr.»f '
408-16 less 1-1»
tions to-day at 90.
Lov-Jof
Chicago Subway advanced from 4% to
The following
the rates for domestic exchange at the 5.1 In the bond department, Chicago Great Western 4s,
adermehtioned elites A|tjhje close of the week:j Chicago, 15c, “sjr.sUZ? were traded in down from 91 to
90% and subse¬
^KOO0 discount. Boston, par for cash,. Charleston, quently at 90%l Missouri Pacific 5k>! ^less.
iateresV*t adpremium,'; fSavannah,; bfcyuxg,; van<?ea from 95% to 95%, thefi fell to 95%v jreiiavering
3-16disoount; selling,
; SW^ouis, 35c. per $1 ,Q00 pr^rqr finally to GpU “PnU paid” 5s r^ged between 95 % and $4%.
ium. St. PAttl* 80c. per
000-premium** New; Orleans, Wesfcem^Eacific 5s advanced Xrom.97% ,to
Outside quotations will be found on page 162.
commercial, $1 per $1,000 discount; bank, $1 per $1,000
_
—
»
o
■
--
.
-
...
w
,.L
.
}W
^
.
from 8% to 7%.
Butte
Giroux advanced from 11
-
Dailv. Weekly and Yearly
New York Stock Exchange-Stock Record,
TWO
OCCUPYING
STOCKS—HIGHEST AND LOWEST SALE PRICES.
Jan
Jan. 8
122
Tuesday
Jan.11
Monday
Saturday
10
104% 104%
•135
136*4
118*2 119%
118
91%
90*2
08
70
*66
♦68
*36%
72
311
*68
308
89%
91%
*64
67
71
71%
89%]
88%
90*4
66%
*68
*305
315
♦306
315
*305
89
90%
*64
67
♦64
67
69
71
63%
03
34% 35*4
62*4 62%
152% 153%
172
172
170
70
312
86*4
89*4
*64
*....
179
•210
•153
*160
179
225
160
170
5
1162%
*205
*153
*160
*4%
*10%
*550
630
50U
84
67
584
<63
*8318
*63
17*4
33*2
34%
52*4
17*4
33*4
33*4
52
17*2
33%
33*2
51*2
40%
*40% 411*
142% 142% *140
79
17
79*2] 79
96
97
*.—
*94
*118
16*2
17
99*4 *95*2 99*4
122*4 *108 120
*94
99*4
120
90
*
90
90
146% 146% 146 1467S
24*2 25*8
24*4 24%
60*8 61%
60% 60*2
29*8 29% *28*2 29%
*52
53
62*4 52*4
*77
■431*2
43%
70*8
70
25
*61*4
*68
158
$138
42%
43%
70
70
13S7g
78*4
15%
81%
24
80
*78
42%
70
41%
*69*2
427g
70%
25*2
*23
52*4
88
139
154
23
53
89
138
138%
153*8 153%
92% 92%
48*4 50
92%
*92*4
49*4
74%
50
74*8
74
71*2
70*4
139
62
25*2 25*2
124*4 124*4]
*62
*105
*90
65
110
05
158
*156*2
49*4 49%
98*4 99
91
$91
143% 143*2
117
117%
*101
117
135%
99*8
*110
103
117
136*
62*4
124%
65
123
*62
*105
*92
*156
♦63
110
95
154
♦152
*92
47%
92*4
49%
74
74
69%
70*4
92%
49%
74%
92*8
48%
*73*2
70%
70%
247g
.
62%
277g
58
80
42%
697g
25
*138
61
145
61*4
25*8 25%
122
1227g
*62
*105
*90
66
*138
61
*62
*105
*90
110
95
99%
99
*110
99*2
120
166% 168%
*91*4 93*2
♦106
108*2
46% 48
86*2 87%
*71
72%
72
58
59*2]
106*2
44*2 46*4
85*8 86
32
75
*110
165
92
105
72
♦70
33%
71*2
14
527g
71*4
116
115
202%
103%
19812
102%
98
*89
91
103
118
72%
25*8
57%
71%
24%
55*4
71%
25*2
50%
51*2
51
*9
10
9*2
21*2
*11%
50
57*2
51%
91
22%
12%
52
23%
53*4
50*
72%
24%
56%
6%
50*
8 ’
16%
8%
5034
20*11*2
51
66
-
*100
*117
135*4
98%
-
92
105
104
57
58
427g
84*g
*71*2
57%
31%
32
31
75
76
45%
84
85
41
*71
221*
72%
52%
49%
5%
10%
6*4
50
61
61
67
457s
73*g
66*2
*138
61
67
157
47*2
99
91
46*8
96*4
♦80
108
118
120
12,400 Louisville A Nashville
125
105
44*2
85
15
517g
Do
70
155
92%
48%
73%
70
600
14,000
145
61
100
1,200
110
95
158
91
Pacific Coast Co..
Do 1st pref
Do 2d pref
500
117*2
132*4 135 191,345 Pennsylvania
110
97
*110
98*
120
*71
58
56%
31*8
73*4
130%
30*4
52%
70%
196
197*4
101%
40%
102
411
72:
22*2
52%
40*4
5%
10*2
6%
*49*2
69
32
16
13
51*2
70
114
114%
*70
103
44
23
24
Feb 23
36*2 Jan 15
22%
36%
28*2
136%
65*8
13*2
Mch 11
Mch 11
39
Mch 11
Feb 24
Mch 12
Nov 26
Feb
J’ly 2
42
65
90
Sep 16
Mch 10
J’ly 22
35*2 Feb 23
71
Feb 23
65
Feb 24
21
Feb 20
100
95
88
36
22
60
30
43
Feb 26
2
81*8 Mch
92*8 Feb
.
1
8
7
172% Feb 24
219
*94
30
m*2 Aug 16
Mch 1
Feb 25
50% Feb 25
Aug 16
Sep 13
Sep 14
47
77
Feb 23
Feb 23
Oct
27% Dec >0
61*4 J’ne 15
56
Dec 16
J ly 13
15% j’iy 13
6*2 J’»y 13
35% Jan
12%
25%
15%
637g
Jan
Jan
Jan
Apr 20
86% Mch
9D* May20
15
41
*21
5
Jan
59
75*2 Dec 15
40*2 Aug23
42*2 Jan IS
15% Jan 2
54% Oct 19
74*4 Jan 4
116% Dec 19
64*4 Feb 24
J an
Mch
108*4 Jan
139% Aug 16
34
Aug 11
Feb 24
Jan 5
Feb 24
97
Dec
82
20
D eo
Dec
49*2 Dec
32*2 Dec
57
Dec
75*2 Dec
42% Dec
7218 Dec
26
58
Dec
Dec
56% Dec
12534 Dec
154*4 Dec
44% Deo
56*2 Deo
90
Deo
135
Nov
151*2 Deo
43% Dec
75*2 Deo
67*2 Deo
67*2 Deo
105
85
161
Jan
Jan
78
76
NOV
Dec
Nov
47% Dec
86*4 Nov
88
Dec
157% NOV
93% Jan
;
90
97
79
60*4 Sep 16
35% Dec 7
12% Dec 8
7
May 12
193*4 198*8 363,2Ju
Do pref..
6,000
100% 102%
41
1,060 Unit Rys Inv’t of San Fr
41*4
Do pref
360
*70
72%
21% 23% 30,000 Wabash
23%
VY
Do pref
61,38f
53*2
48*2 54
48*4 50*2 14.400 West Md rects 4th paid.
50%
6
9.250 Wheeling A Lake Erie..
5%
6
Do 1st pref..........
12
10*2 H% 10.400
Do 2d pref
6
8,050
7
6%
Wisconsin
49
49
Central
60*»
1,700
Do pref Trust Co ctfs.
....
74
Feb 23
93
149*4 Nov
May
90
Dec 27
Deo
104*2 Dec
Feb
Mch
74
94*4 Dec 22
20% Feb 25
47*2 Jan f
114% Feb 24
I'exas A Pacific
Union Pacific
81
Feb
116% Jan
65
Sep
Sep 29
Dec
Dec
Dec
58
Deo 22
Sep 21
Sep 21
96 Aug 23
117*2 Deo 23
1
Feb
40
84
126
92% j’ly 28
159% Aug 12
151%
99%
116%
173%
Deo
90*8 Jan
Moh26
Feb 24
Feb 10
Feb 23
Mch 22
41
148% Dec
75*8 Nov
17% Dec
Nov
128% Jan
29*8 Feb
Mch 3 11-6*2 Dec 31
Mch 30 $106
Sep 28
Mch 27 115 Dec 31
NOV
51% Dec
122
60
Dec 10
Nov
28*2 Feb
97% Jan
174*4 J’ne 14
55% J’ne 12
102
56
17*2 Mch
46
Feb
NOV 13
Feb 24
Jan 6
20% Feb 24
67% Feb 24
65% Mch 29
•
79% Jan
123*2 Feb
24% Jan
90
Jan
86*2 Jan 5
104
118
89
90
Mch
Feb
Nov19
Feb 20
Novl9
69
Nov
40% Dec
83% Dec
Feb
20
61
76% Apr 6
100
St L & San Fr. 1st pref..
Jan
Jan
100
...
Feb
Mch
27*2 Feb
57
Aug
Feb
18
Feb
46
12 Jan
34
May
Feb
30
87% Feb
120
Jan
15
Feb
Jan
147*4 Aug 18
....
Jan
Mch
10
Aug 18
Aug 18
Aug 2
J’ne 14
Dec 24
Aug 12
Jan 4
120*2 Feb 24
48% Mch 15
....
$70
122% Feb
6*4 Jan
17% Feb
Apr 15
Apr 15
Sep 14
Dec
Dec
Dec
181% Dec
575
Mch
Jan
142
64
1
Dec
59
79
76
36
8
20
Deo 17
Dec 31
26% May22
122*2 Jan 5
44% Apr 5
70*2 Dec
99% Deo
Mch
62
69
149% Jan
164% Auy
94
Dec 23
50*o Oct 18
78% Oct 18
77*2 Aug 5
2
Apr 13
174 Dec
7% Dec
18
Dec
12
16
Dec 13
Dec 27
Dec 21
Aug 14
J’ne 11
Dec
Dec
11*4 Feb
113*4 Feb
48*2 Jan
Aug 2
50%
75*2
29%
6478
71%
162*2
153%
160
18*4 Nov
33*4 NOV
1577s Aug 12
88*2 Aug 12
-
224
Feb
6
257s Dec
63% Dec
Jan 4
Jan 29
Deo 2
Jan
24% Mch
36
62
82
Deo
■'79
14% Feb
39*4 Mch
32% Apr
162% Aug 12
Jan 23
Feb
420
J’ne 7
21
103
100
126
94I0
‘
Dec
69% Dec
68% Dec
152% Deo
164*4 Deo
185*2 Deo
56*4 Aug 9
46
Nov
68
229
103*2 Jan
138 Jan
135*« Jan
185 Jan
Jan 15
28
'
69*4 Dec
180*8 Nov
Feb
71*4 Aug 13
21
147
89
2d pref
1,975
46*4 116.4SG Rock Island Company...
Do pref
5,90C
87
72%
Do 2d pref
—
6.500
57*?
3,300 St Louis Southwestern
32%
Do pref
2,100
74*d
134* 253,203 Southern Pacific Co
3U, 21,100 Southern v tr cfs stmpd.
Do pref
72
do
7,610
34*4 12,000
-hlrd Avenue (N Y).
17% 11,370
13*
13,650 Toledo Railways A Light
2,800 Toledo St L A Western..
52*4
Do pref
71
3.500
i
114
2,36-E Twin (Sty Rapid Transit
Mch
Dec
94
14% Nov
17% Nov
Feb 10
90
Jan 30
132*2 Jan
103
Jan
14% Nov 9
48
59
*121
137
18
51
81
—
47
5
105
83% Feb
97
May
88
Apr 27
137
Feb 23
11% Mch 23
36*4 Mch 23
26*4 Nov27
48
Sep "
74*4 Feb
37
Feb 23
6778 Feb 24
19*2 Feb 25
—-...
1
Feb
Deo
104
111% Dec
111% Dec
3% Feb
18*4 Jan 27
83% Deo 27
Mch 22
68% Jan
86
May
84*2 Jan
200 Mayl4
680
Apr 22
54
Apr 20
7
29
4
126*8 Feb 23
Reading
1st pref
10
140*2 Jan
% Apr
4
Apr
47*2 J’ne
85% Feb
21
Feb
50% Jan
39*4 Feb
141*2 Feb
56
4,350 Plttsb CIn Chic A St L..
Do pref
—
25*2 Feb
4
79*2 Jan
Do pref
Missouri Pacific...
lWrash Chatt A St Louis,
la at Rys of Mex 1st pref
Do 2d pref
—
N Y Central A Hudson—
N Y Chic & St Louis
Do 1st pref
Do 2d pref
160
J’ly 27
U54
2,400 N Y N H A Hartford
42%
8,700 N Y Ontario & Western.
84%
14,500 Norfolk A Western
Do adjustment pref...
210
85%
39,430 Northern Pacific
133%
76
1,850
47%
99
*101
*116
72%
115
pref
Feb
Mch
Feb
7
Feb 6
37% Jan
2,025 Minn St P A S S Marie...
Do pref
100
——
Do leased line ctfs....
1,300
51,100 Mo Kansas & Texas
136% 130*;
116% 110':
84*2
15
Tt/Tanhattan Elevated
314 llJLetro polltan Street
1,300 Minneapolis A St Louis—
14)
54
166*2 Jan 30 $180
39
650 T ake Erie A Western...
v.
1,800 Ju Do pref
400 Long Island
6,900
24*4 25%
119% 122% 80,061
200
60
61*2
158
31*4
74*4 75
1327g 134*8
31% 31%
71% 72
34% 34*
17% 177s
42
72%
23%
54*2
50%
7
16
8*2
42%
71
24*2
61%
Jan
80
37% Feb
198*2 Aug 18
Aug 7
535
pref
5,350 TYansas City Southern..
Do
pref
1,875
101% Dee
114
7% Dec
Jan
Jan
Oct
76*2 Jan
73% Jan
167% Feb
Do pref
17 C Ft S A M tr cfs,
Feb
£3% Feb
59*2 Mch
76*2 Feb
Aug 13
68
100
51
_
Highest.
66
Aug 16
181
3** Dec 16
Hocking Valley pref
900
Feb 23
Lowest
Mch 15 $230
Apr 22 167
208
148
pref
6,315 Till no is Central
99,740 JLnterboro-Metropoll tan
Do pref.
85,500
1,000 Iowa Central
Aug 20
158% Mch 15
173*8 Feb 24
Havana
Electric
Do pref
1647g 167*2 *160% 164*2 638,150
320
931
*91% 93*2 *92
167%
437g
40*2
*69%
*23%
>105
*90
134% 135%
98
98%
mo
60
110
95
1377g 139*
ll67g 118%
140*2
118*4
133% 135ig
31% 32
71% 72%
34*2 347g
17*2 18
15%
14*4 16*4
53%
52% 527g
71*4
70% 71%
115% 115 115
200% 196% 199*4
103
101*4 102%
42
42
*70
145
46*2
133*4 135
31% 32%
72*g 72*4
35%
34*2 35
19*2
17*2 18
15%
53*4
*
*77
141
Hock Val JPU&Co rets
141*4 145%
23*2 25%
59*2 62*4
2678 27
50*4 60*.i
*153
*92
48*2
73%
69%
800
200
120
90
88
92
*60
*105
*90
157
120
*71%
68%
3212
75%
136*4
32%
73%
42
121
50
92
92
105
57*2
76
9£%
165% 166*2
58
42
22%
99
120
99
*110
167
48*2
98%
92
99*4
137*4
61%
25%
121% 122%
95
90*8
135
25
110
78%
*80
61%
66
73
88
155
47*2
73*2
25% 25%
121% 123%
31
51%
25
*153
92
145
61
31
32
49
39
153% 155*4
137*4 137*4
24*2 25
49*2 50
136% 137*4
69
*138
16%
*
146
*20
51
*80
156
16%
*91
*108
123
90
41%
697g
88
137%
67
327g
50*2
39*8
135% 137*2
81%
99*4
*52
50*2
137
*153
157*? 156*4 157
156*2
49*
48% 48*2
47%
98%
99*4
977g
97%
*89
89*2 89*£
142% 143% 141% 142*4 £138
114
116% 116*2 *115 117
*101
103
*101
♦101
103
118
118
*117
*116
118
135% 136*4 1347g 135% 134%
44
21%
*11%
*49*2
*81
98
32% 33 H 32*4
75%
*7512 77%
136*2 137% 135
32%
32% 32%
73
73
73%
35
85*2 36
18*2
18% 19%
14
12*4 14
52*4
52% 53%
71%
71% 71%
115
441512 116
201% 202*4 199*4
103
103% 102*4
*41
72
25
57
50%
48*2
82*2
Nov 1
513% Aug 23
31% Dec 23
58*4 Dec 23
3,800 Ttelaware A Hudson
JLPelaware Lack A West.
13',690 Denver A Rio Grande
Do pref
2,505
..
170 Detroit United
1,300 Duluth So Shore A Atlan
Do pref
—.
1,250
15,700 T?rle
Ei
Do
1st
pref
8,950
Do 2d pref—
1,000
30,915 Great Northern pref—
Iron Ore properties. .
15,800
50 Green Bay A W, deb ctfB
180
610
16
60%
27*2
25
♦20
48*4
120
59
142
62%
25*2
25
53
86
137% 137*4
74*8
71%
*138
166% 167*4
$93*4 93*4
*106*4 108
46*4 47
87*8 88
*71
*20
♦51
*82
23
*51
*82
70
hS
6.375 Colorado A Southern....
Do 1st preferred
420
Do 2d preferred
500
81%
80*2
79%
63
145
24
*77
*23
62
68
81%
80
177
615
♦590
45
48%
120
90
62*4
24
108
57% 60
81
99% *90
80
Do
6
57% Feb 24
Chicago A Alton RR—
Do pref.
*104
60
180*2
16
*77
12
79*2
Feb 23
55% Jan
Do pref
100 Chlo St P Minn A Omaha
Do pref
500 Chlo un Trac ctfs stmpd
Do pref ctfs stmpd....
MOO Cleve Cin Chic A St L
4*4
787g
16*8 16*4
31% 31%
32% 33*2
50
50*2
39*2 39*2
136*2 137%
77
77*4
28
24
215
Central of New Jersey...
Chlo Gt West trust ctfs..
Do pref trust ctfs ....
4,300
175
Mch 3
60% Jan 11
ib‘,066
215
150
*10
79*2
108*2
63
28
62
42%
6912
34*2
4*2
24% 24*4
62
61*4 61*4
61% 62
61% 62
70
68
*67
70
68*4 68% *68
158% 156*2 158% 156% 156*2 155% 156*2 155*2 156*8
138
*136*2 138*2 ♦137 139 *137 139 *136 139
52*4
71
139
62
88
5
12
94
90
*90
*108
*-_—
146
*200
150
*160
47%
81% 82%
49%
83*g
63%
17
31%
33%
51%
40*4
146%
24% 25*8
60% 627g
*27*2 28
*62
52*4
145*4 146*8
24% 25%
60% 62%
25
63
70
*20
*81
139
*153
96
*595
615
50
83%
*....
; 215
160
175
*4%
♦595
32
85
♦4%
6
*10
12*2 *10
79
*79% 81%
♦103*4 108*2 *103*4
60
59*2 607g
8l%
81% 81%
80*2 80% *80
179*2
179*4 181
615
48*4
51*8
*200
*150
*160
215
160
175
47%
83
82%
83*4
*63
67
67
$63%
16%
17*2 *16*2 18
32*4 82%
31%
33*2
33
83**.
34%
32*4
507* 61*4
50%
52%
40
41
40*2 *39*2
141
138% 139% 136*2
78
78**
77%
79*4
16
16
17
15*2
51%
51%
*595
630
X165
98,095 Chesapeake A Ohio.....
67
69
125*8
100*4
143*2
122%
,
...
25
Oct 2
J’nc29
Aug 12
J’ly 29
06
Apr 12
82% J’ne 7
189% Oct 5
70% Nov 15
323% Sep 18
91% Dec 31
74*4 Apr 1
78*2 Mch 27
24% Deo 30
317g Dec 30
37% Dec 29
64*4 Dec 30
165*8 Sep 18
977i Jan 13
100% Jan 20
107*** Jan 14
103% Feb 23
91
Nov-3
67 Jan 9
61*4 *61% 62
99,900 Chicago Milw A St Paul..
150% 151% 147% 152
Do pref
1,560
169% 169% 168*2 169%
157
160% 161
7,700 Chicago A North Western
160%
62
♦200
*150
*160
12%
12%
13% *10
79
79
79% 79%
81%
108*2 *103*4 108*2 ♦104 108*2
61
60% 61
62%
60*2 61
84
*81% 82%
82% 82% •82
82
81
*80%
81*2
*80%
*80*2
182
180
183
182
*181
180%
34
61
150% 153%
169*2 169%
160
161%
162%
225
160
175
5
•80
*104
*590
62
CCanadian
Pacific......
Canada Southern
Year (1908).
Highest.
Lowest
'■*530
Range for Previous
On basts
100 Chlo G Wes ctfs dep 3d pd
Do pref “B” ctfs 3d pd.
34*4 35*2
172
*170
163*4 162
*200
220
*150
160
175 *160
5
5*2
170
Range for Year 1909
of 100-than lots
NEW YORK STOCK
EXCHANGE
Railroads
118*2 120*4 130,050 A tcta Topeka A SantaFe
Do pref
2,227 A
1037g 103%
2;500 Atlantic Coast Line RR__
131% 133
116
117*- 24,600 TJaltimore A Ohio....
110 1>
Do pref
93% 93%
73% 78% 44,795 Brooklyn Rapid Transit
6,300
179% 181*/
119*4 121% 1197* 120%
103U 103*4 103*4 103%
134
134%
134*2 135
117
1177g 116*4 117**93*4 94% *93% 94%
77*2 78->
77*8 79%
179*2180*2 178*4 180
*68
72% *6814 72
78% 79*s
179% 180
35*2 36%
03% 64%
153% 155%
36*
15514 155*4
May
Jan
132%
88*2
108*4
143%
Dec
Dec
Nov
92
99
Dec
Dec
*
Dec
10*2 Feb
20*4 Feb
25*4 Dec
62% Deo
42
69
J’ne
19*4 Feb
Mch
10
24*2 Feb
66% Feb
9*8 Jan
25*2 Mch
12% Feb
15*2 Mch
6*2 Oct
Feb
Feb
12
33
78*4 Feb
110*2 Mch
79*4 Apr
15
Jan
271* Jan
6*4 Mch
Mch
13
4% Mch
12*8 Apr
Feb
6
13*2 Feb
Deo
42% Deo
24
Deo
55% Dec
122% Deo
27*4 Dec
C3% Dec
37% Dec
47
Aug
15% Deo
50
Dec
73*2 Dec
96% Deo
184% NOV
98
40
NOV
Dec
59*2 Deo
20% Deo
52% Deo
it
Deo
26*4 Deo
15*4 Nov
38% Deo
BANKS AND TRUST COMPANIES—BR ^KERS’ QUOTATIONS.
.
Banks
Bryant Pk 1
Butch A Dr
Century fl—
Chase
s-T.
—...
Jeffcrsonfl.
....
1204
* Lincoln....
—
.
430
.
Banks
Bid
Ask
■
Banks
•
..
345
303
...
\
Mechanics'
■
-
’Vr'
:v *
vuig
Excaaage or at auction this week
I
' 73
mmmm
190
576
-mr
430
—
1351
|260%
,
1270
Mercantile.
180
160
183
4t5
575
265
l
Ask
Banks
t569% Mt Morris^.
mmmm
Liberty....
...
157%
140
170
* Sale at Stocx
Ask
4500
350
925
Ask
..
..
Bid
Banks
Imp A Trad 1565
Irving N E 1208
Bid
Chatham
Fifth AveH- 4303
340
350
Chelsea ExTl 200
Fifth
300
183
Chemical
900
010
445
460
First
14th Stfl
155
1265*8 Citizens’ Ctl tl62*2
136
1200
City
...
422*2 427% Fourth
130
Coal A Iron 145
155
tl
Rights....
330
Colonial IT.. 300
Gallatin
Columbia
383
Garfield
*ir ■'4t
295
Commerce
Germ-Am 5 140
225
T202 1203
Germ’n Exii 450
162% Copper ....
150
Germania fl. 550
Corn Ex TT-- 325
333
East
River. 125
135
Greenwich H 260
175
165
175
463
Hanovcri— 65)
1 Fidelity 1T--
Bid
Neto York
Aetna
i -17)
America IT- j 6 0
Araer Kxch. 1255
Audubon
133
Battery Pk. 125
375
Bowery*’
BronxBnrolt 300
Bronx Nat
217
■
«
Jan. 14,
24%
24*4
*4>2
*10*2
Jan. 13.
94%
*93
312
$67
Jan. 12
117% 117%
119
310
90
312
Friday
135
135
*94*4 94% *93% 94*4
78% 79*4
78-% 80*4
180*4 180*4 180*8 180*2
*68
•69
72
72%
312
Thursday
120% 122*..
103% 103*4
121*2 122%
104*4 104*
135 136
122%
Wednesday
PAAEM
STOCKS
Sates of
the
Week
Shares.
>
"■
390
137*2
190
.
mmAm
190
413
Mutual
J...
Nassau 11
New Neth’d
NewYorkCo
New York.
N’ht &Day1I
19th WardNorthern
275
225
200
750
•MMM
225
100
230
T470ljJ
.
People’s H...
280
....
.
.177*.“
220'
...
Seaboard
..
Second
Sherman...
....
230
420
110
295
187*
tunu A VO 344;^. UOUUC nail it 4 • a r- ArillVldCuU aui
n Sold at private sale at this price,
s 2d paU.
h First Installment paid
Bid
Banks
625
PlaxalJ
Prod Exch U 170
Reserve
t3291^ 133)'
Paclfietf...
Phcnlx
As*
250
1282
..
park
Bid
State
JL—-
18th Ward.
23d WardUnion Exc.
Wash H’ts
West Side
Yorkvlllo 1*
U inc
»
3d paid.
130
350
Ask
mm mm
175
140
375
400
135
295
300*
U5
140
190
275
500
500
200*
New York Stock
8T JCKS—HIQHKST AND L'HVEST
Saturday
Monday
Jan. 8.
•250
~
Jam.lfc
300
•250
103
451*
108
4534
9334
1312
♦92
a3i*
451*
1*25%
•91
16
81
66
107
*103
800
301
7*4
•45*4
25%
♦16^
46
60
*250
14%
8812
49
103
t
86%
471*
107
300
80
•100
4714
93*4
135*
-
....
46%
93*4
13%
79%
70
.
91
IS
79
69%
29
7%
46l4
26I4
461*
17
17
46
451*
45*4
26%
6%
4112
©01*
•250
300
123
♦121
140%
*95
*35*4
1397*
95
♦941*
521*
63
361J 35*4
♦1021* I03I4 *102%
•31
521*
34
♦6314
*31
67
G7
45
46
44*4
58%
35c.
*16
36c.
♦58
35c.
*361*
1591* 159l2
114*4
115
♦121
112
122
63
67
160%
18
34
22%
85
*58
36
86*4
79
*__..
89
*86
83
•301*
•83l2
122
♦82
*9
*123
1
1
*63%
35%
.
67
161%
'86%
lit
34c.
34c.
35%
34%
*----
156% 157%
112
*
92%
*45
46
*100
*190
*3%
*4%
60
87
119
108
192
105
•199
87*
7
60%
87
♦nr
119
93
105
45
80
48
♦105
__
*8
12
83
*9
32
*29
13
49
>188
191
48'!
106%
42%
103%
38
31
29
837*
134
63%
§82%
129%
12
32
82%
10%
*26
48%
115%
821*
86
123%
65%
64%
„
49%
188% 190
*72
823*
877* 89%
89%
124% 124% 124 124%
noa.
ho;
59% 60
58% 69%
54% 66%
56% 577*
127
128*4 128% 128% *124
73
— ^ *71%
73’3 *72
♦22
*80
49%
79%
107
1201* 119%
112% 112
61
115% 116
82% 821»
83% 87%
—.
78
■105
*11%
61%| 49%
1169
81
127
71
100
79
82
33%
86
40
43
75
47
79
48%
♦105
107
1391* 189%
ft ft If ?2
481* 477*
Rational Biscuit
400 Pullman Company......
600 Quicksilver Mining
...
270
Do pref
2.500 T% ail way Steel Spring..
200 JKi Do pref
—
48
...
Broadway
Brooklyn Y.
fei:::
Home Bk
IK
Homes teadU
Manufac’rs’
875
100
425
146
.....
2*90
...
71
110
119
100
415
Mechanics ’fl 240
Montauk
Nassau
Nat City..
.
...
North Side
160
158
150
13T
Terminal IT.
Union
95
125
125
260
150
140
240
270
295
*305
*
Trust Co’s
N Y City
Astor
380
Bankers* Tr 690
B’way Tr.. 148
...
80
72
291*
45%
101%
99%
Jan
6
Feb 23
Jan 13
Feb 24
Nov 10
Jan 13
Deo 7
Apr 21
Feb 25
Aug 11
172*4 Aug 12
110% Dec 29
118% Dec 31
Dec 21
Oct 2
128
9
27%
19%
69%
64%
Jan 2
Jan 24
Aug 3
Nov 12
91
Sep 20
113% Dec 31
95% Nov 18
77% Deo 27
120
130
Sep 27
Sep 21
30% Deo 14
99% Sep 2
94
Aug 43
113% Aug 12
97% Nov 9
87% J’ne 14
48% Nov27,
Oct 4;64
120
Aug 16
Dec
103
9
Feb
Mch
Feb
247* Apr
81% Dec
10% Nov
767* Nov
50*4 Dec
44-% Nov
Mch
Mch
31% Feb
85% Jan
3
Deo
8% Sep
51% Sep
84% Aug
107
Aug
110% Aug
.113
Mch
Jan
Jan
21
70
55% Feb
87% Feb
Aug
180
80
28
200
Apr
97% Sep
Mch
Sep
98% J an
105
101
Feb
Jan
72%
15%
78%
$27%
Jan
Feb
Feb
Feb
12
35
x85
Jan
41
Nov
67
Feb
152% Nov
Feb"
§25
Jan
Feb
Jan
Feb
Mch
33
102
42
Deo
Deo
Deo
27% Deo
44c
20% Aug
80
Aug
48% Oct
38*4 Deo
94
Aug
Jan
Feb
Jan
78% Jan
52
99
6
16
8
47
13
65
J’ne
J’ne
Oct
Feb
Oct
Jan
Jan
62
Feb
89
NOV
162%
109%
C7%
110%
Dec
J’ly
Nov
Nov
9
May
23% Deo
13% Nov
Apr
65
Jan
39% Deo
84% Deo
"~78
597* Feb
NOV
71% Nov
Jan
Jan
Apr
Deo
167
lo% Feb
68
102
Nov
97
553% Nov
27% Nov
47% Oct
27% Feb
72% No V
59
111
Nov
131
132% Nov
97% J’ly
32% Deo
20c Mch
96
Jan
56
Nov
137% Aug
Apr
§10
15%
75*4
15%
14%
Nov
May
8% Deo
3734 Deo
31% Aug
17% Deo
36% Deo
59% Aug
2% Feb
12% Mch
12% Feb
6
17
Dec
109
97
Jan
Feb §224
97
Deo
120% Deo
15% Deo
£82% Deo
36 Feb,
92
Aug
87% Jan
106% Nov
<
7% Feb
§70 Feb
60
Jan
98
78
42% Mch
24 Apr
Nov
Nov
40% Deo
"80* "jin' ’i6tt%Dco"
29% Nov 9} “‘8% Mch
87% Deo 28
36% Feb
56 Aug 31
30% Feb 23
17% Feb
96 Feb 26 111% Aug 11
69 Jan
169 Jan 30 200 Aug 6| 147 Jan
l%Jan 4
9% JTy 6
% Apr
8
Mch 29
10
May 13
1% Jan
821* Mch 8 54% Aug 4
23% Feb
97% Feb 24 109 Aug 11
75 Jan *
16% Feb 23
49% Sep 29
14% Feb
67% Feb 24 110% J’iy 28
63
J’ne
63
Feb 23
94% Oct 4
107% Feb 20 120 Sep 1
7% Jan
*33% Oct 13 $49 Jan 4 $25% Feb
80% Feb 23
45
Feb
93% J ly 10
9% Feb 24
4
15% J’ne 18
Feb
66 Jan 8
81% J’ne29
447* Jan
115 Oet 28 125% Dec 2.
10
40
*70
73
.....
...
69
*21
70
400
26%
Virginia Iron Coal 6s Coke
Ask
t6 J<m
"
14% Dec
60
45
Dec
Deo
102% Deo
174
Nov
1% Deo
31* Deo
49* Deo
106
29
Deo
Nov
89% Nov
81% Nov
110% Doo
$52% Nov
84% Doo
9% Nov
66% NOV
Trust Co’s
160
130
100
400
710
155
Carnegie
Bid
Ask
160
Tr. 1015
Central
Columbia
Commercial
Com’wealth
Empire
Equit’ble Tr
Farm Lo&T
,
Trust Co’s
Bid
Guar’ty Tr. 990
Guardian Tr 170
Hudson
t326
ISO
15J
300
600
1 850
Fidelity
200
Fifth Av Tr t 425
Fulton
290
...
no sales on tins day
f Sale at Stock Exchange or
at auction th% week.
1
Jan 19
Feb 23
Feb l
Jan 30
128
Feb 24
Mch 3
90
145
Dec
2711
75% Sep 17
37%
91%
Jan 5 §670
Feb 21
85%
17% Feb
56% Jan
70
Feb
Trust
90
Jan
Nov
36% Feb
64
4
16
15% Aug
39
Aug
37% Aug
Feb
Feb
17*4 Feb
78
Feb
42
Feb
25*4 Jan
87% Jan
$20
16
£87
43
Nov 3
Nov 3
Dec 28
25
j 2 5»
Nov 16
Aug 7
Sep 3o
41
38
58
3
Jan
Feb
Jan
Jan
Mch
Apr
Feb
Feb
Mch
Mch
...
175
Knicjcerb’kr
340
Law TI&Tr t3l0
Lincoln Tr
150
Manhattan
Mercantile
Metro pol-t’n
.
1875
210
f435
Morton Trj
Mutual
Mut Ali’ncc
390
740
53)
575
13 J
130
Trust Co’s
Ask
NY LlfedsTi
N Y Trust.
-
-
f
-
360
Tr Co of Am
Union Trust
.
US Mtg& Tr
Unit States.
550
Van Norden
140
Westchester
Windsor
Washington
..
Bid
108
Deo
75% Nov
68*4 NOV
114% Nov
$52% Nov
45*4 Deo
115
68
Nov
Nov
10% Nov
50% Deo
325
Nov
71% Nov
94
125
363%
130
133
Trust Co’s Bid
Brooklyn
Brooklyn Tr 420
Ask
1990 1110
670
400
i 4.
575
350
360
1375
460
470
U200
235
2o0"
140
^
Citizens’
Flat bush
Franklin
Hamilton
Home
Kings Co
L 1st L & Tr
Nassau
..
People’s
Queens
Co.
Willlamsb’g
*
307* Deo
787* Aug
Nov
Nov
COMPANIES—BANKERS' QUOTATIONS.
N Y City
190
57
6
45
300
64
74
11»
•Bid and a3ked
prlces:
J’ne25
9
41% Jan 25
95% Mayll
94
...
Bid
People’s
Prosp’ctPk1
104
70
J*ly
Dec 14
63
.....
Banks
Brooklyn
„
Jan 16
7
165% Jan 4
26% J’ne 2
93% J’ne l
170
Jan
Feb
Jan
NOV
Nov
35
96
.........
BANKS AND TRUST
Ask
109%
6%
18*4
9%
47%
33%
71% Fob 25
102% Apr 21
...
—
Jan 30
82
...
.....
62
96% Jan 2
1 *8% Jan u
12% Feb 24
--
6,000
Do pref
4,495 Pressed Steel Car
100
Do pref
5
Feb 23
Mch 2
Feb 24
Dec 14
91% Dec 31
24
24
Jan 21
69% Jan 9
...
4,430 Nat Eoamel’g & Stamp’?
Do pref....
11,350 National Lead
280
Do pref.
1.010 New York Air Brake....
6,610 North American Co, new
8.350 f>aciflc Mail....—
925 JL aclfic Teiep & Teleg..
10,250 People’s G L * C (Chip).
8,400 Philadelphia Co (Plttsb’h)
„
Hid
J’ne 14
37c Oct
4
J’ly 9
Mch 13
Mch 18
Feb 25
82% Jan 30
...
...
Banks
Brooklyn
Borough §}.
20
24
150% Feb 23
91 Men 12
Int Harvester stk tr ctfs
Vulcan DetUmlng—
88
85
§85
*76% 78
"~~25 Do pref
♦170
*170
190 |*179
190
§190 190 *170 186 *175 186
40 \\7elis Fargo 6s Co
7634
76% 76%
75% 76
75% 7534
75% 75%
74% 75%
3.253 * * estern union Teleg..
81
811* 81%
81%
78% 81%
773*
79%
74
76%
78
78%
17.000
•120
13H™ *128 131% ♦129 131% 128% 1251 *120
Westingh’seEl&Mfg assen
131% *120 135
900
Do 1st pref.
_
300
10
Dec 31
25%
84%
24%
§80
4#I2
48%
106% ‘106 107
106% 1961*
44
42% 43%
41% 43% 14,900 Republic Iron 6s Steel...
103% 103 103% 102 103% 4,780
Do pref.............
85
85
86%
745 Qloss-Sheffleld Steel 6b Ir
82% 83
118
119
118 ♦118 119
200 O
Do pref
38*4
37
37% 38
2,100 dTennesseeCopper Par$2 5
37%
8934 *88
88
88
200 Texas Pacific Land Trust
893*
121* 121* ♦11% 13%
12%
600 I Tnlon Bag 6s Paper....
73
73
♦70
76
100 4J
Do pref..
119% 119 1201*, ♦119 120%
100 United Dry Goods Cos..
112
112% 112% §112 112% 1,400
Do pref
xl09
Sep 1 114 Dec 30
29
29
29%
29% 29%
1,895 U S Cast I Pipe 6s Foundr
24% Feb 24
35% J’ne 5
83
82%
83% 83%
83
540
Do pref
70 Mch 2
87% Aug 18
125
125
131
125 125%
5,190 United States Express..
82 Feb 10 {111
Dec 31
82
82
81
82%
1,000 U S Realty 6s Improvem’t
8134
64
Feb 23
87
Sep 17
10%
9
11
10*4 10%
700 U S Reduction 6s Refining
10
Mch 12
17% J’ne 17
32
*2512 32
♦25% 32
Do pref
24
Feb 24
3912 Aug 12
49%
47% 48% 748% 48% T.OOO United States Rubber...
2/
Feb 24
57% Aug It
115
116
11534 cl 12% 113%
6,090
Do 1st pref
98
Jan 29 123% Aug 2 4
82% *82% 84
500
*80% 83
Do 2d pref
891* Aug 2.i
67%
Feb
25
88
85% 87%
84*4 87% 1154,400 United States Steel.....
41% Feb 23
947j Oct 4
123% 123 125
122*4 124% 17,425
Do pref
107
Feb 23 131 Oct 4
57%
56% 67%
52% 561* 31,350 dUtah Copper...Par 310 $39% Feb 26
*67% Nov2j
56%
65% 56%
54% 56*4 63,750 Vlrglnla-Carollna Chem..
40%
Feb 24
56% Dec 28
127% 127 127
126
126
Do pref——...
1,000
114
*22
*78
.
32%
55
80
.
112% 314%
104% 102% |03%
21% 25% 10,500 Pittsburgh Coal Co.....
107
89% *88
76
125
25%
2u0
Nov 4
Aug 3
Nov 5
NOV 3
53
Jan
45
450
Do pref stk tr ctfs
2,200 Int Mer Marine stk tr ctfs
115
Feb 23
Apr
114% Feb
16% Feb
73% Feb
...
& P
Feb 24
Jan 28
21c
...
23%
ST*
lit1*
103% 104%
26% 26%
1181
*118
.18% 118%
1
83
§g
45
w
3.700 General Electric
Granby Cons M S
7,550
J’ne 4
76%
124%
79%
107%
21% Feb 23
Distillers* Securities Corp
Federal Mining <fc Smelt’g
pref
Feb
Jan
13
78% Jan
9% Feb
86
Apr ‘
145% Sep 29
104
May 10
40% Aug 27
107% J’ne 14
$54% Dec 31
36% Sep 21
69% Sep
164% Dec 31
19% Dec 24
37
Novl3
51% Oct 7
111
Sep 2
Feb
29
.........
•95
Highest.
Jan §200 Aug
Mch
16% Deo
14
Mch
62% Dec
45% Feb
88% Nov
65
4
44
131
17% Dec 24
237* Jan 2
25% Mch 2
99*4 Apr 5
...
4
47% J’ne 14
69% Aug 4
122
Aug
11% J’ne
59
Sep 20
92% Aug 27
1051* NOV20
116*4 Aug
§285 Nov23
105
May 22
66% NOV 19
136% Sep 24
_
Carpet
Do
NOV15
47
118
Oct
Sep
51% Aug
42% Apr 13
93% Jan
$37% Feb 26
18*4 Mch 9
3,230
Do pref
22%
1.250 International Paper.....
14%
2.250
Do pref
67%
9.700 Intemat Steam Pump...
53%
1,085
90%
Do pref
108% 48,830 Laclede GasTst"L) coinll
89%
300 Mackey Companies.....
609
Do pref
77%
*123
25%
81% 82
83
39%
1131* 113%
3G%
7
88% 871*
84% 87
*110% 1101* §110% 110%
92
91
98%
92%
91%
87
192
125
128
116
100
'
123%
110
81%
49
45
U6
25
?
38% 30
38%
80% 89% *89
13% 13% *117*
74 ^ *73
78% *73
1201* *119% 120% *119%
112% 112% 1127* 112
31
31%
30%
84
8412
83%
122
130%
6II4 51%
H6I4 116% 113
100
86% 87%
*95
«3%
82
85
397*
89*4
131*
84
12
32
•113
*123
110
48% 49%
*105 106% *106 106%
*44% 45
43% 44%
103% 104
,103% 103%
*80
115*4
"’200
5
15% Nov 18
90% Feb
6,100 Comstock Tunnel.Par $2
72.500 Consolidated Gas (N Y).
14,450 Corn Products Refining
2,830
Do pref
'¥,470
35
77
87
157
112
*85
154
__
*90
121
118
125
...
Crex
Jan
Mch
Mch
34% Feb 24
115% NoVoO
D
Do pref
Brooklyn Union Gas....
100 Brunswick Term &
Ry Sec
62
_
77% Feb 24
Oethlehem Steel
"moo
34c.
Jan
101
225
95
34,860 dAnacondaCopper Park 25
149% 156%
2034 21%
83% 84
NOV30
26
B utter!ck Co
2 6’900 / Central Leather
J
V
1,300
Do pref
*55
*-.-86
*96
87%
38
80
108% 108%
43% 46% 28,700 Colorado Fuel & Iron...
3,600 Col & Hock Coal & Iron.
89% 9134
*57
112
*123% 126
25
257*
110
109%
5% J’ly 16
1,300 American Woolen
425
Do pref.
2 00
164
98
23
23
24
23
Feb 25
Jan 12
Feb 23
Feb 24
49
_
*15
*33
44
34
Feb
Feb
Feb
Feb
187* Jan
.
156
18 *
Jan
7%
71%
44%
107%
12
29
200
Do pref
3,838 Amer Steel Found (new)
7.240 American Sugar Refining
20
Do pref
13,898 American Teieph & Teleg
610 American Tobac (new)
,pf
4934
3234
*63%
34
34c.
157% 159%
*90
122
61%
82
.....
American Snuff
‘
Nov20
167* Aue 3
67% Novl7u
96% Nov 19
50
Aug 12
103
Aug 3
491* Aug 2
42% Jan
...
...
103
15334 156
21% 22%
84% “
357*
79
89
33%
102%
44% 45%
10S% 108%
45% 46%
91
9134
86
63
*—..
*86
95%
160
*16
*33
35c.
*84%
*113
26
82% *81
41% 42
48
*26
♦82
67
157%
22%
*58
*_... 112
82
415*
♦1031* 104
112%
*32
163
18
33c.
154
22
63
36
79
90
*90
.
121*
34
123%
122%
139%
Feb 24
Feb 26
33% Jan
95% Jan 18
20% Jan 13
....
*96% 100
64
64%
1221* 123%
*12134 122%
137% 139%
*95
9534
3334 333*
65
Jan 29 >250
38
65
4.30J American Ice Securities
4.700 American Linseed
Do pref
6.500
12.500 American Locomotive...
300
Do pref
500 American Malt Corp_.__
1,300
Do pref
24% 25%
16% 16%
43% 45%
67% 58
95%
Ijovest
Highest.
_
45
*250
Loumi.
98
Jan
American Ex press
§205 Feb
783 American Hide & Leather
6% Feb 25
Do pref
1,650
34
Feb 24
”“£20
300
7%
*250
34
45
46%
108% 10834
44% 47*4
91*4 91%
158% 159% 157% 159%
*123
*20
♦106
108
♦191 192
*3%
8
4
414
49I4 49
>104 106
44*4 46
♦73
77*
45%
25%
17%
46%
Range tor Previous
Xaar <1908>.
12% Feb 24
„
*3234
22%
85%
1141* 115
1131* 1147s 113% 114
103% 106% 105% 105*4 104% 106
27
27%
26% 27%
26% 27
83*g 83*4 *81% S3
82
82
61
601* 61 ^ 50
49% 60
•1191*
300
*7%
45%
25%
...
161
*16
35c. 35c.
155
156%
*113
2714
146
♦88
107
45%
67%
*63%
46%
108% 108%
47% 48%
91
91%
£36%
112
100
tit*
*38*4
66%
66
1634
*32
123
125
♦82
*118
65
*103
*280
~
*250
34
159
*15
*33
46
*60
*85
88% 887*
88%
*1093* 1108* *110
*92
92*4 92*4
♦85
79
118
64
>103
*280
Range for Year 1909.
of loQishat* tots.
190
———
...........
12%
80%
69%
A
2.500 -CLliLs-Chalmers
14%
600
Do pref
60%
88% 171.400 Amalgamated Copper...
47
3.700 Amer Agricultural Chem.
100
Do pref
45% 11,850 American Beet Sugar....
94
100
Do pref
13% 10,350 American Can..........
Do pref
8,035
80%
687* 16.10J American Car & Foundry
118
620
Do pref
5,60j American Cotton Oil....
66%
Do pref
107
......
1257* 124 124%
123%
123% 121
12612 1271* 127% *124% 128 §127% 127% 126% 12734 *126
7%
7%
7%
7%
6%
7%
678
6%
2314
23% 23% §23%
22
21
22% 22%
22%
15
1534 *15
15%
15
15
14% “
13%
58% 69%
67%
68%
57% 58
56%
53
53%
63
50
53%
52% 53
90
90
90
90
90
90
*881*
115*4 114% 116% 111 1
1087* 111% 1077* 109% 106%
91*4 *89% 91% *89%
90
*85
89% 90
89%
78
78
77
*76% 79
*76% 79
77%
*113
115
27%
♦96
36c
156% 159%
22% 23
85% 86%
*58
*70
•85
•89I4
94
13
119% 119%
7%
45%
26
17
...
*63%
169
17
34
1581* 159
2212 2212
8512
69*4
79%
66*4
300
§7%
45*4
*31
16U2
181*
*3284 34
4712 47*4
4G% 477*
♦108
1087* ♦108 108*4
49
49
4814 491*
91*4 917*
9184 917*
17
♦33
54
00
121*
*95% 100
♦95% 100
95%
65
65
66
65%
64%
121% 123
122% 123
122%
123
*122
5121% 121% *121% 123
1405* 139% 1397* 139% 13934 139%
95
95
96
65
95
95
34
35*4
33%
357* 357*
357*
103U 102% 102% *102% 103% 1027s
52
51
5312
52%
523*
50%
34
*63l4
161% 162
♦15
*93
LXXXX.
Industrials Miscellaneous
-
♦99
43
♦93
45% 46%
107
7‘
45
26
16
*250
•121
140
*7
793
70
*7%
45%
25%
16%
*9512 100
♦951* 100
65
*6414 65
66
122
12212 1215* 123
*2314
79
69
_
1013*
III84
♦126
47
935
13
[VOL.
On 5asi»
-
82%
46%
*99
...
STOCK
EXCHANGE
300
*50
47
STOCXS
XOlZit
59
601*
6012
57*4 69
68%
115 *11412 1151* *113 115 *113
*113
115
*113
115
612
*612
8^
6*4
8
*6%
8
*6%
*6%
*6%
41
41
411«
*40
43
*40
40
40
36% 397*
*90
901*
90
90
9012
800 Amer Smelters Sec pref B
89%
89% 89%
89% 89%
1017* IOOI4 102
97
99% 100%
977* 100%
98%
9434 98% 116,200 Amer Smelting* Refining
11184 *11114 II2I4 111 111% 110% 111
110% 111
3,600
Do pref
109% 111
♦250
1141*
•105
122
47
45%
93*4
12%
*103
♦285
52
84% 86%
48
118*4 118-%
66%
65% 66%
65%
107
*103
7*4
875
>250
14% *14
NEW
Week
Shares
Jam 14
300
517*
120
(♦286
7*4
40*4
25*4
18
*250
14
Sales of
the
Friday
Jan 13
300
48
*99
PRICES.
Thursday
*1414 15
62% 53
•53
.
♦103
300
300
141*
131*
79% 805*
701* 7U*
695* 7114
•118*4 120 ♦118*4 120
66*4 66*4
66*4 67
81
We-inesday
Jam 12.
Jam. 11.
300
1478 l§
141*
631* 631
♦535*
88
88% ■87%
48
471* 48
•101
Tuesday
SALK
Record—Concluded—Page 2
I
lit
c^nycmifi^. ?B^,^ked
with
Ask
138
145
225
230
200
215
260
270
115
500
310
150
300
115
80
170 j
100
ipa^mph (7^ State bail”
I
New York Stock
*
tf.
/M. llttft.tts
■■ 11
WMf«
Bid
6,' A' wvvnuNtm
1931
9ft4
9ft 4 Sale
944 Bale
•14
••
lft
864
•»4
4ft
tjp A*** are yr (mi
100
100
Bale
bale
to.. 1958 M-8
1084
Carolina 44*20-49.....1933 J-J
91
50
etts.
14
^92
984
Ohee
HI
Shr Bandy lat 4s
904 1014
Sale
88 100
1004
9ft 4
103*«
1124 1134
1134 J’ne'oo
1024 Jan ’09
9ft
60
94
{10241024
Noy’Oft
▲ag’09
964 964
314 93
87 4 61
25
68
fluUiba
1933
...1992
...1992
1944
Craig Vauey let g 6s. ...1940
Potts Creek Br
Albany A baaa toe Dei A Hud
Allegheny Valley to* Penn BK
ftileg ft West to* Butt BAP
Ann Arbor let g to
*1995 V-J
\tch Tft b Fe—Gen g to. 1995 A-0
Begutered...............1005 A-O
Adjustment g to.......*1995 Not
Registered...........A1095 Nov
Stamped
A1995M-N
Cony 4l issue of 1909... 1955 ’ J -D
Oout g 4s
i»66 d-D
10-xear cm g 6e
1917; J -1>
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784
78
1994
1004 Sale
181
100
100
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944
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774 374
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984 1014
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02 Jan ’19
04k
w,4*
119 4 Nor'09
944 tote
1204121
1184 earn
10
14
92
36 4
119
May’09
04
90
074
98
94
Jan’09
Jan *10
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105
67 4 91
107 41104
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J-J
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126
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994
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76
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924 924
924 964
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1937
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112 4122
1224 118 10241234 Ohioaapo A Bne g*« Brie
It
“
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744 764
190
106
904 101
004 1004
....
1054
106
93
96
106
944.....
764 76
South western Dir to.... 1921 M-8
774 79
>•••••
•••«
1014 Jan’19
Salt
1044
O. 004100
1919
Joint bonds to* Groat North
Debenture 6s...
1913
General 4a...............1958
Man A bt Jeeoeneolde..l9ll
Ohio A Bill ref Aimpg 4s 1966
1st oomeoi g 6s
1934
General ooaeei 1st 6a.... 1937
**3iie**
Oct *09
39
107
J-J
I.. 1927 M-N
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cm bo By
Midi AM At Coast Line
-
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.
......
Nebraska &xtension to. 1927 M-N
Cent
,.T.
1184
1134 lid
11241184 1124J»n’10
1024 oale 1024
Iu3 4
♦ 102 V
Apr ‘oo
Deo’09
83
884
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4s.. 1046 J-J
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2d conaei g4e..
...1989 J-J
M s
Warm Bpr Val 1st g 5a..l94l MGreeabdar By let*gag4a ’40 M-N
Clue A Alt BE ref g 3S...1949 A-O
Baftoay let lien 8 4s... 1950 J-J
Begiatered.............I960 J-J
Ohle Bnri A Q-Dear D4s 1922 F-A
Uliaeis Dtr 34ft.
1949 J-J
Begiatered........ ....1949 J-J
file Dtr to.
1949 J-J
Iowa DATeuk fond 6a.. 1919 A-O
Itailroat,
tacama
1939
**.MiVo4m4
.
1264 3511244 1294
124
124
ft 124 1274
1084 Oct'08... 108411041244
89
106
0u4 904
Ney’Oft ....'1,
116
110 Jen’19
104 4 Deo'09..104
994 Deo'09
1004 ....*. 1004 19041
109
A-O
Begiatered
1004 leoj 100 103
1094
1094 42 10841124
1024 1044
1034 Dee’09
ioOi 1094 86 10841124
103 1044
1034 Deo'09
109
100
M-N
M-N
M-8
M-8
Begastered
General gold 44a
Year
1909
......
101
*1911
latoeaeei g5s
Mange
B24N«t'V9*
9t>4 bep *09
1064-...- 1044Jne08
funding A impt 66.1929 j^y
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er
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110 Nor*08
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98
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99:
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N
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•04 *54
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Paetfte tor Be Aciflo Oe
334 944
804 884 CeatVermeat let gn 94e.*1320 Q-F
1014 1044 ChaeAsar to* JOI Coast Dure
944 22
884 12
12
103
944
884 894 884
1084104
108
964 97
984
9c 4....
9ft
94 4 944 944
....lal7|M-N
44% Corporate Stock ..1957 M-N 1094
4 4%aseeeemt bena*....l0l7!M-N 1034...
1004
4% Corporate Stocx.... 1957 M-N
6* deferred Brown Bro»
3d pref
10841024
Mange
Jan 14
JN4
High No Law JHigh
1
3M4
l
••••••
9ft
4% Corporate Stock..... 1909
4% Corporate block ....1958
ienn
JMm
Friday
ti
State sad City Securities
Diet of Colombia 3*06*....1924
Louisiana new eonaol to.. 1914
Mew York City—
x fc> tale—Highway
BOMIM
N. Y. STOCK BXCHANGB
Wih Xxnore jam 14
......
•••»••
20 mom 41ae.......... 192ft
Bepub of Onto to oaten debt..
8&n Paulo (Brasil; trust ft* 1919
U a ot Mexico a l * 6a of 1899
Gold to er 1904..........1964
Bono§
Year
1909
Binds.
/y towM eiU Ae/a%lUd
■
■*■■?
1004
1004103
4s. 1951
101
101*4 toss l91VNor*09j
1084
106
101% 102 4 MIS den’10.... 1004 1024
J*J
100*4 Nor’08
196
937
M-N
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1144 U94
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lldS 116% lift den 10
[118 121
1244......
100 101
101 Mar*09
104
1014
1U84199
Argentine—Internal to ol 1908 M-8
imperial Jap*“«»« Gorerumt
bterling imb 4 4a.......1925
-
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■4
s Dec w
190 Vi Oct’09
Ferrigv OtrenwMHit
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TfUtt flilf
1004 1014 loi
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VI 8b registered ........*19X3
0 8 Is oeupen............ *1016
v 8 to omt malt bonds—51918
0 8 to registered
1926
0 8 toeoapon.............192*
UB Pam Can 1840jr 2ft.fcl086
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Manga or
star
‘
30
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Wm lKDimlAii U
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Exchange—Bond Record, Friday, Weekly and Yearly
guoHay tw4» eei ifcamil, ee< jwiot am «e» gJI—*#*4 faknk"
1284128
90
197
11241194
114
1144
112411ft
1184
127 129
..*11
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1184 1*14 38 1064 1264 CJueto A Lostar ref 6a... 1947 J-9 ♦1284 ._..‘1264
1114
Dee’00
11241144
994 994
994
Befnnding gold 6s
994 Sep’99
1947 J-J *114
Debentures to SerieaH.1910, F-A
109
1004102V
1004! lOu 4 Noy’Oft
Lontor N A A Ch 1st 68.1910 J-J
9*4
984 984
984 Dee'09
Series K...
...l9lftF-A
944 06 4 04 Deo’O0
034 964
97
97
99
Ohle Ind A Sou60-yr 4S..1956 J-J
974 9? bep*09
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lo3
1064103 Jan’10
10441054
984 964 ukioMBA bt P term gos A9A4]J-J
944 Balt
944
944
short Line let to g......1958 J * J]
101
301
1004
100
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xoov
1044
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1104113
he Pres A Ph ial g fta.1942 M-8 1094 1104 1194 Oct ’09 .
884
103 4 Out '06
Knox AN to* L A N
88
8ft
604
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26
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94
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974
944
854
08
334
934 08 03V 9ft
107
109 111
199
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1934 J-J
1064Oct ’Ob
94
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994 J'ue’09 ...
1104 ! 13 V
1104 Deo’oft
CM* A Me toy Dfy 6e...l926 J-J 1104
Charles A bar
7 s.. 1938 J-J 13*4
1014103
162 33 1014
103 Neruo
08 gate
93
95
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©1952 M-H
1084 1084
30108 1104
127
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121
127 J’ne’OO
J-J 10841094
toy# A W 1st gold to.. 1934 A-0 1254.
104
1044 Aug-’Ob
10441094
112
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114
1124J’iy’09.
1184114
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110
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100 101
loo Nov’00
1*15i
1910
107
109
107
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1UB4
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99
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40041014
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1100 102
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994 Sale
984
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994 Bate
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112
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904 101 106 Apr’09 .... iiol 1014
North
Sottalo N Y A Bne to* Arte
MU D BA Wtot tot g6s 1921
1iB4 a164 1 2 11741194
I144H74
Buffalo BA P gen g 6a...1937 M-8 1124 115441ft 41M0
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mvuft
llta4 Deo’09
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1957 M-N 107 109 1094 1094 10 108 4104
122
1424 0«b’o2
109 1024
Ashland toy tot g0S..1926
b9
iu24 Dee’99
ARA Wtol liftg 4s go..1998 A-O
119*1——.
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i...
193 J’iy *08
01A MlblS go g 5s....1943 J-J 1134..
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lo84*i*j?’w9..
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10341084
1194 Deo* 00
bWi A Pitta {to g 8S...19JU F-A 1194119
112
1 Hi V1144
1114 H14
1184 Ml 4
lift
1194 1204Aug’0»
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llAvAng'Otf
11841134
Si ? 90
884 314N«r’09
Butt A buaq lat ret g 40.41951; J -J
*084 ’ 964} 094 934 6 98 1014
Bor OBAN toe C B 1 A P
90 1004
98
98
AufOO
IV 104
107
104% Sale 1044 10ft
86 bale
94
914 282 894 94
1014
1014 1014 H 1004193
97- J’ly’04
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1004 10a 4 1904 May'07
97
934
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9x4 934 034Aug*o0
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BA824 040 734 8ft
8a
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bale
11#^ 1134
cent of Ua KB lat g 5s..pl945 F-A
00
80- J’ly’oO
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.--.‘-3.200^
13 10741114
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.1946 M-Hj
914
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6 79 904
116 117
11*4.113 115 May*00
-tT87
89 Deo’00 ....* 80
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874
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Street It nil way
Brooklyn Bap Tr
lftt
1044
g 6s.....1946 A-O
refund cony g 4s....2002 J. j
Bkcity tot 00060.1016.1941 J-J
boougug 61.1041 M-h
Bklyn Un
lftt g i-fts.1050 F-A
86
1084
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btamned guar 4a
1949 F-A \
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1024
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82
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4 4a1932 J - J
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356
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19 10241044
tot«c Bnp T 3-yc cony 6s. 1011 M-N 1034 bale 1034 19*
1034 J17
43-year;5s Striea A.....1952 M-N 103 Sale 103
intMuabiTacceii tr 4s.. 1949 J-J
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98 May* 06
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65V 724
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m sale 874
106 1164
1104 to <4 Dec *oy
88 V 87
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10741074
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log
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......
Next Page.
Street MsOlway
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MTlat, eDneJan d Due Apr
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V. Y. STOCK EXCHANGE
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Jan 14
OkiestLa NO ^'iiioenY
Okie St It A Pitta &m Penn Qo
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£1936
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Ota S A 01 con 1st g 6s.
.1828
000*1 consol 7s
1914
1914
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1
94
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OIot A Pitta ties Penn Co
Ool Midland 1st g 48......1947
66
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Belaud A ext 4 *s
1936
Ft W A Den 01st g 6S..1921
Odum <fe Greeny ties bo Hy ■
Ool A Hocg.Val be* H ook Vai
ColAToi bee Hock Vai
Ool Conn A Term bee N A W
Conn A Pas Bits 1st g 48.1943 A-0
Cuba KU 1st 50-yr 5 g....l952 J-J
92*
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67
06
80h 61
98* 96 7<
97 s* Sale
97*
<
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Dei BIt BK Bridge bee Pa KB
Deny A B Gr 1st con g 48.1936 J - J
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48
98*100
98*
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98
gMpstorsd.
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axt
•
Jan'09
•
111* Jan'10
96*
67*
J ’ue’Oo
Sep *09
94
116*
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109*110* 109* Deo'09
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99* Dec ’09
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130
120* 118* Dec'09
149
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127
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102
103
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128 Nuv’09
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96* 96* 95*
96
26 95
98*
104*..
108* Jan’ 10
103
100
108
1
102* 102*
101*104
93* Bale
93*
94* 110 92* 90*
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182
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Jan'10
129
Jan *10
132*
100
111
182
108* 108*
101*103*
97* 101
—.
98*101*
117
180
117
182*
ill* 117“
J’nc’oF
116
88*
89
128
132
116
116*
96
87*
94* Jaa 'IQ
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102*102*
J-J
J-J
97
1955
bee So Pao
J-J
J-J
1951 J-J
Begistered.
1961 J-J
l»t g 3 *s
1951 A-0
stcritag...—1951 M-8
Coll Trust gold 4s..
.1*952 A-0
,
Begistered
.1952 A-O
M-N
LNOA Tex gold4s ...1963 M-N
BegUtered.
1963 M-N
Cairo Bridge gold 4s
I960 J-D
BoomvDirATerm g3 *8-1963 J-J
Middle Diy reg5s
1921 F -A
Omaha Diy 1st g 3s
1961 F -A
Bt .Louis Diy A term
g 3s. 1961 J -J
Begistered.
1961 J -J
Gold 3*s
”1961 J •J
Begistered.
1951 J -J
Spring Diy 1st g 3*s...l951 J -J
Western Dines 1st g 4s..1961 F -A
Bellev A Oar lat 6s
1928 J-D
Carb A Shaw lat g 4s
1932 M-S
Chic St D A N O g 6s...1951 J-D
Bolstered
1951 J-D
Gold 3*s
1951 J.D
Meinph Div 1st g 4s...1961 J-D
St L Son lat gu g 4s
1931 M-8
i ndBlA West
BmOOOAStB
i nd Ill A la lat g 4s
1950 J-J
nt A Great Nor lat g 68-1919 M-N
2d gold 5s
1909 M-S
Trust Co oertfs
3d gold 4s
1921 U-9
1 ova Central 1st gold 6s-1938 J-D
Gold 4s
1951 M-S
[/alAAGK bee hb A MB
- [Ban A Mich
bee ToiAOO
] LCFtBAM bee Bt D A 8 F
j CCAMBAB bee Bt D A S F
1 tan O A Pacific bee M K A T
tan City Boa 1st gold 3s..I960 A-0
Begistered.
I960 A-O
Bef A impt 6s Apr 1960
A-O
l Lentuoky cent bee LAN
1 look A Dos Mo bee CB1AP
j LnoxvilleA Ohio bee Bo By
J-J
2d gold 6s
—.—1941 J-J
North Ohio 1st gu g 6S..1945 A-O
J iBhoAMichB bee N Y
Cent)
i <ch Vai N Y 1st gu g 4*s.l940' J
Begistered.
.1940 J
1
102
103
100* Sep'06
99* M»y'09
106*
99* Feb'09
105* Jan *10
...
92
Beaded
100*
.—.100*
I™
106
Lake Brie A W 1st g6s-1937
•
J
j
Begistered
1941'A-O
g58.1933 J-J
an
100*102*
99*
98*101*
99
99
98*
80-
97
100
*88* 89
123
79* 79
•
Apr '09
79* Dec *08
89
89 * Dco'09
I01*0ct *99
•••*•«
Nov’OO
Noy’09
Feb *09
89* 10O
.97* 100
96
121
♦96
96* Oct '09
117* Jiui’10
118* J’ne’09
......
117*
118
98
••••
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92
••••••
79
79
89*
90*
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121
121
96* 88
117>s 120
118*119
Oct '09
Mar'Od
90
100
98
94*
101*
99*
88*
Deo'09
Aiay’yo
94
99
99
Mej'07
Apr'09
94*
80
99
100
99*
II— *79**
U0
68 *
94
J’ne’oy
—.
D
108*106
107* Apr'07
90
Sep '09
94 Bep '09
93 * May’09
80 J’ly’09
100* 100*
S99*100*
99 *s 100
......
162*100
_
98
99
1st gold 3*a
N19UCLLAN8OU0 BONDS—Ccatinusd
Iff
97
186* May'OO
114* 118* Oct'09
98
J-J
Begistered.
1945 M-8
BIO AN 1st pf Os —.1914 A-O
Geld guar 6s
1914 A-0
J Ah A Hod B bee Cent of N J
J Ah A W likes b NMCcntofNJ
IJ «eroy A Caney Vai Ass Mo P
_
A-O
J’ljTO
asaaat
J
1 LoostBAWTex
j
111*114*
114
117*
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•
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118
stfimftess
( roonOrier Hy bee Chea A
Q
<
A S list ref A t g 6s 61962
Jan A St Jo
BmOBAQ
—
m%uo
S^wle.*r.:r.ili7
86
95
....
J-D
F-A
M-N
A-0
86
88
..
£-1922
aaa
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• •••
Jan’10
114
127
•
F-A
86
87
...
^ A Tol lst
letex
ext g 40948 A-O
CM
F-A
4s
•
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19L
ul gw U..18A1
Begistered. .......1937
E Minn NorDivlst
g 4el946
Mtan Union let g
•••aaa•••••a
• ••a
1
Mu'll
Noy'09
128* Jan'10
Apr'09
107*107*107* 107*
108* J’ne’09
101*101* 101*
Safes
98*
99
98*100* Oct *06
99* JAM *10
Dakota ext gold 6s....1910
W£<8sr
a •••
_
106
86
•aaasa
127*180
126*
1988
Beduoed to gold 4*s 19t
Begistered—
96
116*
aaasc sees##
J*na^08
96*
06*
96* 07
J
*94*
JfigG DM S lstoon g 8sIIl93;
94* Sals
100
18 80
87*
96* 21 96* 99
98
118 90*100*
114
6 113
117*
•
▼
SeeStLSW
or—CB AQooli tr4s 1921
109*109*
109*111*
•1
40
112
|l00* 104*
06
07
io5* 100“
Consol gold 4*s.........1930 J-J
Improvement gold6s...l928 J-D
1st A refunding 6s
1966 F-A
Bio Hr J uno 1st gu g 68.1939 J -D
98
Feb *08
Bio gr Bo 1st gold 4s-..1940 J - J IIIIII 8*6** 78 Dec'09
TIT
Mar*08 aaa;
86
Guaranteed............ 1940 J-J
Bio Hr West 1st g 4s....1939 J - J
side* 94
94*
6 92* 100*
88
84
Mge and col trust 4sA.1949 A-0
64 Dec 09
83
87
Utah Cent 1st gug 4s <*1917 A-0
96
97 Jan '02
•aaaaa••••••
Des Hoi A Ft U bee M A Bt D
Des Mol On By 1st g 6S..1917 M-N
110
Sep *04
Oct A Mack 1st lien g 48.1996 J-D
96
97
97*
2 93
97*
95*
Hold 48.....
91
92
-...1996 J-D
92* Dec '09
88
92*
Detroit Southern—
73
Ohio Sou DlY 1st g 4s...1941 M-8
Sale
73
73
8 70
82
Dul A iron Bangs 1st 5S..1937 A-O 111
111
111
1 111
116
Begistereu...............1937 A-O
106*MarTO
2d 6s....,
1916 J-J
-T-.l, f-~.
Dal Short lone bee Nor Pac
Dai Bo Bliore A AU g 6s..1937 J - J 109
110 Oct '09
110 110*
L'sstof Minn beeStPMAM
A2sst Ten Va A Ha bee Bo
Hy
Elgin Joi A Bast 1st g 6S.1941 M-N 118
118 Deo'09
112 116
BlmCort A No bee Deli A N Y
Bne let ext gold 4s........1947 M-N 102*..
101 Nov’09
101
101
2d ext gold6s............1919 M-8
106*.1106* Cot '09
106*100*
8d ext gold 4*s«.........1923 M-8 103*
......104* Nor'Of
104* 106
4th ext gold 6s
1920 A-O 106*...... luf*
106*
1106 107*
6th ext gold 4s...........1928 J -D
99*
| 97 "
....!! 97
97
let Oonsol gold 7s
1920 M-8 122 132*122
120*125*
1st oonsol g luiul 7a
♦
1920 M-8
120* 124 Aug'OV
122
124
Brie let con g 4s prior..1996 J-J
86* 97* 86 *
87 * *30. 82
91
Begistered
i
84
......1996 J-J
81
Nov'09
82
80*
let oonsol gen lien g 4S..1996 J * J
76* 77
70*
76* 15 09* 80
1
Begistered.............1996 J-J
86*Feb'07
aaa.f*
Penn coll tr g 4s
66
1961 F-A
86* 86 Dec '09
76* 90
80
60-year cony 4» A ...—.1963 A-O
80
81* 00 63
89*
do
Benea B
1963 A-0
71* Sale
71*
73 108 67* 80
ButtN YA Brie 1st7s.. 1916 J-D *114*
116
110*
Ohio A Bne let gold 6s..1982 M-N 118*114* 114
aaaa 113* 117 *
110
121
mg Dock oonsol g 68—1936 A-O 126 128
aaa i20
128*
Goal A KB 1st cur gu 6S.1922 M-N 106*118 114
112*120
Dock A Imp let cur 6S..1913 J-J 102
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Gas and Electric Bight
Atlanta G D Co 1st g 6 s... 1947 J-D
Mklyn U Gas 1st con g 6S.1946 M-N
Buffalo Gas 1st g 6s
194“ A-O
aasssi
A-0
j
M-N
J-D
J-D
J.D
J.J
Construction 6s
1923f F-A
Term A Improve 4s.... 1923IW-N
Warren 1st ref gug 3‘as.2000 F-A
Del A Hud 1st Pa Div fs.1917 M-8
Begistered...
1917 M-8
10-yr conv deb 4s
1916 J-D
1st lien equip g 4 he .... 1922 J • J
1st Aref 4e
1943 M-N
Alb A Bus oonv 3>s8
1946 A-0
•tatsa
Deo TO
100* Dec*09
114 Apr TO
See Bo Pao Oo
<
81
80*
96*
97*
118*
113* Sale
1
Dak A Gt so bee CM A St P
alias A Waco bee MB AT
Del Lack A WesternMorris A Laser 1st 7s...1914
1st consol guar 7s
1916
Registered
1916
1st ref gu g 8 he
2000
N Y lack AW 1st 6S...1921
10a
beeSoHy
1
96
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....
94
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101
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126
94
94
100* 102*
101
108*
108*116
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! 1st 68.1913
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88* 83
105 * Noy’09
114 Oct ’09
Sgg 4S...
4*s.lf41
1928 1:3
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103* Deo
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98*
98 Aug’09
....
Consol sink fund7s
88
86*108
96V »»*
94* 97
aae
•
....
St L Dir 1st epl tr r 4s..1990 M-N
general consol gold 08.1934
Begistered.
1934
ind Bl A W 1st pref 48.1940
O lad A .W 1st pf 6s...<11938
87
106
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.
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....
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108
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113*116
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108
10**167*
101* 100* Jan'lO
ioT
—1942
High Be Lew Mists
Mar’09
90
114
loi‘
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aaa
....
•••£••
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Year
1909
104* Jan'10
100* Dee'06
§*•••—*
J 1st g 6s. 1910
st gug 6s. 1942
119
110*112*
2 92* 96
,
87
106
••*••••!
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Last Sale
Ask Lew
108
Bangs
22
<3
Bangs sr
18a1* io7
....
94
iof4 nnr
i,
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••••••
129*
129*129*
114
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109*
•••••s
127
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1st ref 6s.1
iio
1 126*130*
98
137
W
.
106
Week's
Pries
PrUlav
Jan 14
*
High
uTM*
General
J-D
J.D
M-N
A-O
Year
1909
[Von. nxxxxt
2
*1
;
AONiw f
N. Y. STOCK EXCHANGE
Wm Ebro ura jau 14
Bangs
li
Loti Bale
B%a
1
_
Tries
Friday
Record—Continued—Page
*
New York Bond
156
90
90
90
8 109
10 86
112
J’ly’08
97* Oct'09
110*111 110
107* 103*
107
110*
100*
98*
103*
107* Bale
107
80*108
“Hill *107*
40
100
40
75* Sale
lo7*
Dee *09
iOb*
70*
70*
73* Sals
72*
73*
i«K 8aU
03
Oct '09
102*
103
112*116
112*
107
110
107
110
21
40
60
ri04 111*
74* 82
71*
76*
108*103*“
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112*116*
_
Nov’99
X12
107
....
6
109*
112*114*
—|!l08*106*
107
108*106* Dec'09
106*
107 Aug’OU ...."107
66* 97
Jan *10
116*116* 116*Oct ’09
109* Oct ’99
<1 97
......
Not’U9
108
.*108
93* 96 I 9i*Bcp’V9
96*
......
•••••«
98
[ll** 118*
—
106
107
J
96
109
97
••••••••
102
113* Jan’00....
100*1101* Bey *09
101*101*
Next Page.
Goa and Electric Light
N YGBDHA P g 5S...1948
Purchase money g 4s...1949
Bd El ill 1st cony g 6s..1910
1st consol gold 5s
1995
NYAGB1 DAP 1st con g 6sl930
NY* KiCh Gas 1st g 5s. 1921
Pat A PasG A E con g 6s. 1949
Peo Gas A C 1st oon g 08.1943
J-D
F-A
«d-8
J-J
F-A
«d-N
M-8
A-0
1947 M-S
Refunding gold 6s
ChG-DACkalstgug 6s 1937
J-J
Con G Coot Ck 1st gug 5s.'3b J-DI
Ind Nat GosA OB 30-yr 5s '36 M-N
Me Fuel Gas 1st gug 5s. 1947 M-N
Syracuse lighting 1st
g
6s.’51
j-d|
Trentoa G A Bl 1st g 6s.. 1949 M-b
UmonBlcc DA P 1st g
5s.i932]MS
UtioeElDAP istsfg5s.l95l)
Weateiieausr laist'gg
J
102*
110
no
105
101*
103
101
«....•
90
WW
Jan 10
94 * Aog'Oti
119
96
Jan *o»
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c
112
98*
97*
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121
103
104*
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86*
101
.
94*
101*
99* 98*
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99* Nov TO
118 Mgy'05
102
•
97*
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101
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100*104*
110
97
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9? *
104
100
103*104
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17
Jan 'to
May’ou
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119 Jan'10
103* Deo’ou
104 >4 Jan '10
......
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108*
83 *
84 * 100 62*
100
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too
.
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;
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Price
M* Y. STOCK EXCHANGE
:Wm
„
ma
Dock. Bee Erie
isong
i6ng IaPd—leteon g 5s.A193l' Q-J
1
,
A* ft Low
lit consol
gold 4a......A>1031 Q-J
Generalgold 4a*.........1938 J-D
FCrry gold 4*a..
.1922 *£8
»7
98
Rifled gpId 4a..........1949 M-8
94
2:5
1937 M-N
1940 J-J
J-J
Sink fund gold6s........1910 A-O
0611 trust gold 6s........1931 M-N
EH* Nash 1st g 0s....1919 J-D
L Ciu A Lex gold 4*8. ..1931 M-N
NOAM 1st gold 6s....1930 J-J
N O A M 2d gold 0s
1930 J-J
Psnsacola Div gold ds...1920 M-8
8t L Div 1st gold 0s
1921 M-S
2d gold 9a
1980 M-8
Ati Knox A Gin div 4S..1965 M-N
Ati Knox A Nor Istg6sl940 J-D
Render Bdge 1st s t g 6s. 1931 M-8
Kentucky Cent gold 4s..1987 J-J
LAN A M A M 1st g 4 *s 1946 M-8
L A N -South M joint 48.1962 J-J
N Fla A tt 1st gn g 6s...1937
Registered.............1940
f:i
N£C Bdge gen gu g 4*s 1946
Fens A Ati 1st gu g 6s..1921 F-A
SAN Ala con gu g 6s..1936 F-A
High
112* Dec*00
102
90
•
••
100**......
„.
106
103
Sher 8h A So 1st gu g 6a.1943
Tex A Okla 1st gug 6s... 1043
Mo Pacific 1st con g 0s ...1020
Trust gold 6s stamped.al917
lstooli gold 6s
40-year gold loan 4s
3d 7b extd at 4%.
1938
Cent Br By 1st gu g 4S.1919
OenBranch U Plstg4s.l04»
Leroy AC V A List g 6a 1026
Pao B of Mo 1st ex g 4a. 1938
2d extended gold os...1038
St L Ir M A Sgen con g 6sl031
Gen oon stamp gtd g 6s 1031
Unified A ref gold 4s..l020
Biv A G Div let g 4s..l033
*v...w
94
;
97
110
110
111*-.
111* Oct’09
106
96
110
67
114*116*
68* 75
94* Sale
107
113
111
101
109
110
124* 126*
120
107
120
107
Msy*07
M*y’09
94*
94*
116 J’ly 00
71
93* 96*
71
no” iTo
Jan ’09
HI
111
i\b*
...
98*102*
107*107*
97* Jan ’10
106* 106 *»
01* Nov’09
lit
117
100*
100* 100*
108* 110*
111 111*
Jan’00
Dec’09
110
06*....
105*....
01* 92
99
100
Nov’09
120
107
117
71
96
98*
88** *92”
10 112*116*
i'09” iio*
Nov-09
110* Sep *09
110* 116 <9
94
96*
94
Nov*O0
97* 98* 08
98*
Apr'06
16
09*
10
99” ioo*
97*
16
83* 96*
28* 27*
20* 26*
80
80
••••••
•••••*
104
I*
97*
Deo *0b
......
27
000000
26* Apr *00
••••••
SO J’Iy’O0
80 Feb’08
100 * Msy’09
92*100
ibo* ioi”
;
2d gu gold 5s...I......1936
BeechCr E*t lstg 8*s61951
Cart A Ad 1st gn g 4s...I081
GouvAOswelstgug6s 1042
Moh A Mai 1st gu g 4S..1991
N JJuno R gu 1st 4s...1986
N y A Harlem g 3*s...2000
N Y A North 1st g 6s...1927
N Y APa lstoongu
g4a 1993
109*...... 118
102
107
Jan’07
Dee’09
82*
£8* 02
88* Nov’09
91* Got’00
99* 100
08* 99*
99* Jan’10
98*
98*
93
113
J-D
M-8
M-N
M-N
F-A
J-D
J-J
F-A
J-J
A-O
A-O
J-J
M-N
Jan *10
118
01
113
03
Bee St P M A M
Bee SPCo
Morris A Essex See Dei L A W
Morgan’s La AT
100*111
116*
108*
108*
J-J
109*
m
109*
Deo’09
1 108*112*
...J
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J-J
J-J
117* Mar’06.,
118
110
118*
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J’ly’04.,
94*8ale 94*
94*183 92* 96
88* 89
88*i
89
8 86
88*
101*...... 102 Aug’09
102 108
82* 84 Jan *10
80
86
J-J
A-O
.
J-J
A-O
*07*lSo
93
97*
82* Sale
1
lS*g
TenuiCmGige1I 6s,
Jena D1V1 U>g
0 0 0000
9 00999
95*100
09*Nov’O0
94 Deo’09
97. r
97
82*
82*
107* Deo *04
02* Anr’06
"er'imi;
i-Ji
Btnn Dfv is ice
Oah Q MCo 1st
li
YalronOoMd
is......1053
t»ges.i04>0 M-l
•NopnoeFmday; iatesvbid and asked. ^aDueyaabDueFib
0
113
102
127
121
J-J
A-O
i()2* ioi*
02
0l
9ft*
00* 94*
94* 07
03.
97*
96*
.....
96*|
:L09” OctV07
.....
100
......
9%0 00 **•.:
09* 09*
90* 93*
90* 02
U6
ll 6
00* Oct *09
96
•■90-000
94*4
lob” ibo”
Deo’00
130* Jan’00
180*180*
^.....
111*....
101
115
119
99*......
Feb *09
101
Oct’08
116
98* ibo*
98
98
98* Oct *09
93
......
92
Deo’09
90 J’ne'08
l
83*
88*
02
92* 162
90
Sale
90* Sale
102
2361 J-J
.....2861 J-J
Sale
100* Hale
”ibo
90*
80
03*
91* 06*
3
Deo’09
100
' 000000.
’ • •
’
A-O ibo* ioi*
101
116
J'ne’00
•••••
999009
99*102*
100
~
100*
90*
100*
90* 63' 01* 04
371 101 104*
102
100
100*
14 100
184*
80 188
146
651 97*111*
108*
Be^s f6»000 only
,
134
101
Sale
Sale
114*
184
101
100
118* Deo’08
107
„
..' 107
I
Aug’00
97* 97* 96*
7
97*
96* 99*
101* J’ne’06
M-S
107
90000
090000
101 Oct ’09
101 104
101*
124*...... 126 Oot *00 ...J 126* 128
124*128 126* Nov’Ob ...J 125
129
124
126
124 Jan *10
127
128*
08* 99
08*
08*
4 98
' 100*
09
97
92* Sale
97
J’ly’09
07
71' VI
06
83
102 246 03*103*
80* 90
80*
50* 11 80* 03
104*106* lu6*Deo*o» ...J 106* 106*
05
96* 06* 06
1 06
98*
I
,(.1 «*
10L * sale
92*
101*
__
102
74
••••••
100
102* 101* 102* 113 101* 104
10l*Dee’09 ...J 101 103
sale
8l 71* 76
72*
74
7L Nov’09
70
74*
08
06 Deo’08
96* 97*
•#•••«
102*
117* 120
112*
103
......
02
111
Deo’09 ,...'117*121
Oct »0i> ,...115
120*
118
110
119
117* J’ly’07
104* 104* Sep ’00
98* 08 Oct ’00
02* Jan ’09
113 Deo’00
HI ioi” ioi*
,.^f| 97* 00
....(I
92* 02*
UO* 116*
Fao Coast
Co 1st gNee6sMo 1946
of Missouri
Pao J-D
Penn BB 1st real est g 48.1923
Consol gold 6s
......1010
Consol gold 4s...........1943
Convertible g 3*s.......l9l2
Convertibleg 3*s
1915
Consol gold 4s ..........1048
Fal gen gu g 4s. ..1942
108*108*
M-S
M-N
M-l»
J-D
PhiiaBai A W let g4s..!043
»<>1»* g 6S...1924
ft103
105
-
100*109*
...
101 104*
ioi* 36 07*106*
96*1*482 04*100
104* 104*104* 104* 33 103*106*
'00009%
••**•*
06 102*| 09 J'ue’uT-.iij
...
Sale llol
06
06* Sale
•
•••••A
100
103
U N J JIB A Can gen4a. 1944
on
108*110
2
101
j>M B R A Bgelst gu 4s g.’36
....
....
108*
103* ......'104 Dec*09
109* ..M..'1U0* Jan’00
103
Nov’OO
100*
M-N
•
09
••
900090
•••»..
0 00 0 00
09f9
0-90*r0'"-'m
103* Dec’O0
lu2
0
••
* »S<e AA*
• 0
990
103*104
Jan ’03
103* Dec’00
%
0m
....
■
-
....
I
■
-103* 100*
11
*
•
Next Page
Telegraph and Telephone
Am
Telep A Tel 00Utx4s 1929 J-J
. ConverUhle4s._..#4...a036
Mich
State TSlep 1st 6s ..1024
Pap Tel A Tel i st 6a
1037
West Union coi tr our 6s.l03s
Fd and real est
g 4*a...l96b
Conv. 4s, Series A-u*ul93C
i|Mdt Un Tel s fund 6X...1011
.4 92 -
93
03
103* Sale 108V
00
00* ? ‘09 *
99* Sale -100*
99*100 * 99*
08* 06*
102* 102*
M. 3
F.r
...
J-J
J-J
M-N
.
.
„
M-N
M-N
•*..
...
iUG <■
^ indue trim
93
106
99
>
a
283
02^107*
4« pg'lOO^
lOO* -77
6
>90*
-07 ‘2 ■<*«■ $
**1
102*
MaFOb
96*- 09V
08*192*,
08* 07V
94.
102 V
05-199:^
**g4i**±rft
84* RaltM ^84:} * f- 94* 10V r80 t:‘88V
.1081; 102* lo# -102*
06
l Mt
97VMWV
07*
:93*f?'98V
tide A id 1st stg 08^1919 3,-S
JOt* Sale1' MW* J02
Tide. 4Aw t: Tir Decoy >>
96 Sales iW
08*
jpadltt ool tr4s..me
..^J. 02W 03 Net’llv.
vev
4*)-yf*6s#wl»44, 4-0 aowsade
i ,408V
A4lis4J|ialmeMlst 68,^1930 J?J
ScviWf
DeBarCAItOo
Ylotor Fuel
M-N
J-J
IDS
0*’0‘
I3l*
Jan’OS
92
mi 00mm
9 0 09 90
10 io8*m
1U2* Dec’Oy
Sals
90*, 02
95* 05*
04* Sale
112*
99.909
108
J’ne’09
Feb *08
125
1037 A-O
...1931 M-N
N Y A Put BeeN Y GApl992
H
N Y A B B See Long Island
N Y S A W See Erie
N Y Tex A M See So Pao Co
Nor A South 1st g 6s
1941
Norf A West gen g 6s
1981
Improvem’t A ext g 6s.. 1934
New Biver 1st g 6s.....1932
N A W By 1st oon g 4s. 1906
Registered
1006
Div’l lstlA gen g4s...1044
10-25 year conv 4 s.... 1932
Pocah O A C Joint 4s.. 1041
C O A T 1st gu g 5s......1922
flllSCKLL INKOP8 BONDS—Continued
r
^U
0a7.19l0
Jeft
A Clearm 11st g 6s.l92«i
HD A Cist s f g5s.l0t>l
Pocah Con
lierlStSf 6 8. *67
'0
•
»••••••»
k':
Coal and Iron
*
r09
ao
108*
Nash
Chat Agold
8t L6a......1928
1st 7s. 1913 ii
lit consol
Coi Indu IstA col^s ghHl034
Con tin’talU 1 St s 1
gu 6s g.1962
9 999
■r* 00
108*
115
Registered
1940 J-£
JLAS 1stg 3*s.....l951 M-S
1st g 8*8
1952 M-N
20>year deb 4s
1929 A-O
Bat O A Stur 1st gu g 8s.1989 J-D
Registered
••••tie*
9
181*
mo*
loo
100Sep *08
.....
ftm 9 > • 4r«Ma|re •
*r •
97* '
Dee’00
|l2* 108 bet’09
101
02
•
-A—*.—»•
109*110* 108*
M-8
M-S
Il931 Q-M
1940 J-J
NYChioA St L 1st g 4a 1987
».e*«;
,
100*4
9 -*e*.
105 oct ’02
06* Oct ’08
j
Mloh Cent 1st oonaor6s.l909
68
1031
4s..
».»• ...
106* 106*
J-J
2d guar6s
....*....1934 J-J
MeKeesA BV lstg6s 1918 J-J
Registered....
100
Mar’04
100
84
78**. €2
97* Apr^O0
*
*
80
Nov’09
9.
.
78* 84
U lndAW Bee CCCAStL
Mont Cent
'
- ‘
6si?Ail944
*0 999
80
1
8
*-106
hio Biv BB Nee Bait A O
Ore A Cai Nee 80 Pao Co
Ore Short Line Bee Un Pao
Oswego A Borne Bee N Y O
Monongaliela Biv Bee BAG
-
Oeees
08
_
Is
n
101* Sale 101* 101*
01
9J
00* Dec’Os
89
01* 02 J’ue’00
§*s
.1931
KaAAGB 1st guo 68.1938
Mahon 0*1 BR 1st 6s..1934
Pitts A L Erie 2d g 5s.alB2K
PlttsMoKA Y 1st gu 6s.1932
;
^
106* 106
But-Oanadlstgug4s.l949 J-J
4s
102
isff” ibo*
109*
1U*
100*
107* Dec *08
106*112
104*105* 104* Deo’09
104*110
102 108
llO*Apr’U0
no* no*
106* 106* Jan’10
104
111*
108*110 109
109 *s
116
111
101*101* 102
102*
100*102*
104* Feb *07
„8«io V
A N E 1st gu g 4s 1989
102* 102* 102* 102*
4 101
103* North
Illinois Bee Chi A N W
81* 81* 81*
81* 40 78* 86* North Ohio Bee L Erie AW.
06*
96* Nov’Ob
06* 96*a Nor Pao—Prior lien g 4s..1997
04* 04* 06* Dee’00
88
86*
Registered
"....Il997
86*
88* Oot *00
88* 91
General lien gold 8a....o2047
110
Mar’06
Registered
o2047
ibo* mm 100* 100* 20 99* 100*
St Paul-Dul Div g 4s....1996
111
116 Sep ’00
112*115
Dui Short L 1st gu 5s.. 1916
109* Sale 100* HO
*6 108*112
111 Sep’09
110*111*
86
Sale
86
85* *0 86
00*
b7
87
87*
87*
7 87
91
St Paul A Dui 1st 6s....1931
102*
102*
1 102
102
2d 6s
.....1917
08
Dec’06
1st oonsol gold 4s
1968 J -D
120* Sale 120* 121
110*125
Wash Cent 1st g 4s
1948
116
118* 117* Oct ’09
118
117
Nor Pao Ter Co 1st g 6S..1938
90
91
90 Deo’09
86* 91
Nor By Cal Bis So Pao
108 110* 112* Oot ’00
112*112* NorWia NssOStPMAO
76 May’08
Nor A Mont BeeN Y Cent
mm *06** 101 Nov*04
3
i
A*0
St Law A Adlr lstgfis. 1996 J-J
2d gold 6s
1996 A-O
Utioa A Blk Btvgug4s.l922 J-J
Lake Shore gold
1997 J-D
Registered
1997 J-D
Debenture g 4s
..1928 M-S
*
100
*1
108
02
OgALCham lstgu4s gl948 J-J
26-year
••••••
......
;.
01
96* *7;,
.
.
'##•••••
••••••
M-N
A-O
.
99* Bale
9 98*101*
99* 100
87* 88
1 86
87*
87*
88*
104
104
l 108* 109*
103.* 104*
84* Sale
14
84*
86
83* 87*
90
00* Sale
90* 76 •0* 93*
87* 88 Apr’00
88
89*
104
106 Oot ’00
106
110
J
1st,extension goiu ua../tl027
General gold 4a
8
‘....1038
F-A
Montgom Div lat g 6s.. 1047
St L A Cairo coll g 4s..«1930
-F
Guaranteed g 4s
1931
MAO coil 4a Be* Southern
Mohawk A Mai i'«JS Y CA11
Sunday CreexiCo
J
F-A
Jan’ip
80
80*
78*Deew
••
*99* IIIZII
M-8
w
02*
■
High A 6 Low
'92 28 9«*
.
is1*
Sale
Year
■1909
ios*
101* May’00
108* 107
04*
79
•
N Y A Greenw Lake Bee Ene
182*188* NYAHar Bee N Y O A Hud
N Y Lack AW SeeDLAW
N YLE A W Bis Erie
ioi*
107
111* N YALongBr NSsOentofNJ
88* 87* N YN HlA H—Conv 6s.. 1948 J-J
Conv deben 8*a
91* 01*
1966 J-J
Honaatonie B eon g 6S..1937 M-N
99 100*
N H A Derby oon oy 5S.1918 M-N
99
89
N Y A North See N Y C A B.
N Y O A W ref lstg 4s..gl092 M-S
182* J’ne’09
95* Salt
80* Sale
J-J 107
A-O ; 86
J >0
J-D
Nor A Mont 1st gug 6S.1916 A-O
Pine Creek reg guar 6s.1932 J-D
B W A O oon lstextts. A1922 A-O
Oswe A B 2d gu g 6s...#1916 F-A
B WAOTBlst gug fis.1918 M-N
Rutland 1st eon g4*s..l041 J* J
Registered
188
A eh Lore
Range
i
or
JLaet sale
91*
00*
J*J
.
Week’s
Range
.91* SaJs
MichOentooUg3*s....l098 F-A • <*•••Registered...1998 F-A
Beeoh Creek 1st gu g48.1936 J • J
Registered.
;......I936 J-J 101
Debentures 4s
182
Bid
J-J
.1934 M-N
3*s.H 1098 F-A
1998 F-A
West Shore 1st 4s go
Verdi V 1 A W 1st g 6s.l926 M-S
Mob J A K C 1st cons g 5a. 1053 J-J
Mob A Ohio new gild 08..1027 J-D
jasperBranoh
Jasper Branoh lat
lstg0s..1023
g 0S..1923
MoMMWA Ai lat 65..1017
T A P Branch 1st 0S....1017
Nash Flor A 8hef Bee LAN
Nat Rya of Mexpr
14*s 1967
Guar gen 48
1977
N at 61 Ai ex prior lien 4 *s.1920
lat oonsol 4a
...1961
New MAD BeeN YN H AM
N J Juno BB Bee N Y Cent
Registered
98
115*117*
106* 107* J’ne’09
124*
125* Jan *10
108*
104*108
Deben g 4s
Lake Shore oollg
......
......
Price
Friday
Jan 14
EXCHANGE
Sf Y Bkin A Man Bch See LI
* Y Cent A H Biv g 3 *8.1997
;i Beg1stpred..4.#,.....,1997
99*
»MlM
3.2
Week Ending Jan 14
«»•«••
100*-..... 100* Dec’09
97* Sale
28*
M-S
al017 M-8
1920 F-A
1045 M-S
Registered
98*
110*Nov’06
min '00*
MoK’ut A B V Be* N Y Cent
Ilex Cent cons g 4s.......1911 J-J
1st cons inog 3s
«1939J’ly
2d eons ino g 3s trust recta..
Mex Internet 1st con g 4s. 1077 M-8
Stamped guaranteed. ...1977 M-8
Mex North let gold 0s....1910
D
Mich Cent tie* N Y Cent
MhloCNJ tie* Erie
MiiLSAW Be* Chic A N W
MU A North Nm Ch M A St P
Minn A St L 1st gold 7S..1027 J-D
Pacifio Ex 1st gold 0S...1921 A-O
South West Ex lstg 7S.1910 J-P
1st oonsol gold 6s
1934 M-N
1st and refund gold 4S..1949 M-8
Des M A Ft D 1st gu 4s...’36 J-J
Minn A St L gu BmBOHAN
M8tPA8SMcong4intgu’88 J-J
M 8 8 M A A 1st g 4 int gu 1920 J-J
Minn Un Be* St P M AM
Mo Kan A Tex 1st g 4s...1990 J-D
2d gold 4s
0x990 F-A
1st ext gold 6s
1044 M-N
1st A refund 4s
2904 M-8
Gen s f 4 >28
1930 J-J
St L Div 1st ret g 4s....2001 A-O
Dal A Wa 1st gu g 6s...1040 M-N
Kan C A Pao 1st g 4s.. .1000 F-A
Mo K Ah 1st gn g 6s.. .1042 A-O
M K A Ok let gu 5s
1042 M-N
M. K ATolTlstgug6s.l942 M-8
N. T. STOCK
100*100*
07* ; 98
lOi * Deo’08
lO0*s 103 Apr’07
102* ...... 109 Nov’06
06*a 98*3 97 Nov’OP
110 Deo’09
116*.
114
110
114* Deo’09
100* Sale 100
100*
08* 99 100 May’00
Bdge Cogue 4s..1946 M-8
LNAACh BeeC IA L
Registered..
.1990
Stmpd tax exempt.. 1990
112*
96
101*8 100* Apr’03
1 97
09* Oot r06
84* 94 Jan ’10
104* Deo’08
,98
100
110
‘97** Decv09
....
.
L A J eft
VI ahon Coal Bee L8AUS
91 auhattan By oonsol 4s. 1990
Year
1909 ;
11 Lois High
•9
BONDS
Range
S3
Last, sale
112V
Debenture gold 6a*
19341 J-D
Gtiartef gold 4a...
1949 .W-8
Bklyn A Mont 1st g 0a..1911 M-B
1st 6s. .H...............1911 M-8
N IBAM Blstcong6sl935 A-O
KY4 BB 1st« 6a.... J927 M-8
NorShB lstcon gguSs ol932
Louisiana A Ark 1st g6sJ927
Louisv A Naaiiv gong 0s. 1930 j -D
12
or
,
.
6s..;.....
Unified gold 4s
Range
Jan 14
BNU*NG JAN 14
Gold
Week?*
Friday
3
'
BONDS
•
Record—Contmued^Page
■u
■
New York Bond
Jan. 15 1910.
.
aeeeeeeeeeeeaeeeee
•••eeeloO 1 F-A
'**—!
:«■
tJ AS.
Tssrjmssrz* .Wu«
vDae Nev
aDneDeoHrOption 8sii
N0W York Bond
158
BONDS
m. T. STOCK EXCHANGE
Wksk exdixu jan 14
Record—Concluded—Page
•
Ft%94
tVi'Cav
week’s
Jan 14
Mm Oo—Guar 1st g 4 Va.1921 J-J
Registered..
1991 J-J
Guar 3 V* coil trust reg.1937 M-S
Guar 3 Vcoll tr ser B...1D41 F-A
Tr Co certif’s gu g 3 Vs.1616 M-N
Gu 3 V tr ctfs O
...1943 J -D
Ga 3 V tr otfsD.........1944 J -D
Guar 15-26 year* 4s....1831 AO
Cl A Mar 1st gag 4 Vs.. 1035 M-N
Cl A P gen gu g 4 V ser A.'42 J-J
Series B
1942 A-Oi
Series O 8 V
1948 M-N
Series D 3 V....
I960 F-A
Brie A Pitte gugS V B.194U 4 4
Senes C.
1940 J-J
•r B A 1 ex 1st gu g 4 V1941 J-J
Pitta Ft W A O 1st 7s...1912 J-J
2417s.
1912 J-J
84 7 s.
A1912 A-O
Pitts YA Ash 1st con 6a.l927 M-N
PCOA St LgU4*aS A...104O A-O
Senes B guar.....
1942 A-0
Senes U guar
1942 M-N
Senes 1> 4sguar.......1946 M-N
Genes K 34 &uar g....l949 F-A
Series F 4s guar
1963 J-D
C St L A P 1st con g 6s.1932 A-O
i Pensacola A Atl bee
L A Nash
Peo A Bast bee CD C A St L
•Peo A Bek Un 1st g 8S....1921 O-F
2u *010448
.51921 M-N
Pare Marai-Cu A W M 6s 1921 J -O
Flint A hl« 3s...
1920 A-O
1st coueol goto6s......1939 M-N
Pt UarOabry lttg&*.1939 A-0
Bid
104
Last Sal*
Ash Low
103
90
das»a4*r
89 4
......
0<>V^
SB's
90
04
88
tOl
1074
107 *s
964
964
*B9V* *91V
06*4 68
BOW 90
90*9 91
98 100
90 i
Dec *09
Dec *09
Jan *05
110
110*4 Jan ’*>9
......
......
884
884
63
98
......
92 Apr’07
98
......
98*4 Apr *04
102 4...... ,104*9 004 ’09
104*9 104*9
1 o5 *s Sale
106^ 107
106*4 HO
1084
106*8 Dec’09
106*s
105*9
107 .Oct *08
111) Feb’09
108 Dec’09
107 j
107
112*a J’ue’06
100
Aug’09
1064
109
107
......
.....i
1074
......
107
...
iio“iio
107 \
LOO
DBAs Kcr’09
93 h 947s
99V 184
111
109 *9
107 «s 106
••....
112'* Dec’09....
......
68
112*4116*9
112*9 112 JDec’09....
99*4 100 100* Dec’05....
106 *# 105 Aug’09....
110
Ill «s Dee ’09....
113
109*9 106 Dec’o9
103 *s ...*.• 107 DCCOi.,
112
......
102
63*4
110
118
ibe” ioi*
111*9 115
104*4 100*9
107
108*9
bee Penn 8K
PhilippineKy 1st30-yrel4s’37 J-J
......
•Pill* cm A st L See Benu Co
(
Pitts Clove A Tol been AO •
PitU Ft W A Oh bee Penn Oe
Pitta McKees AY been Y Cen
•Pitts Six A b b 1st g 6s...1940 A-0
tst oOhsoi gold 5a
.1943 J • J
9*1 *s
91*9 Dec *09
61*9 95
1637
Tex&NQSabDivlstg Oa.1612
Oon gold 5s
too Pao BR 1st ref 4s
Pitts A West beeB AO
U eatling Co gen g 4S.....1997
lliVt
99*9^100^ 109
Phthrift Bead cons 7s...1911 O-D
Benasenter A Bar bee DAB
KiCli A Dan bee South By
Rich a Meek bee Southern
Bio Or VV est bee Den A HtoGr
i
Kocli A Bitts bee B BA B
Rome Wat A Og bee N Y Cent
Buuapu bee Is ir Cent
.cau l us A ii
bee Bere Mara
“OtJoAUr lsi 1stg 4s...1947 J-J
4t'L A Cairo bee Moo A Ohio
St L A iron Mount bee M B
8t JL hi i>r bee T BB A of St L
•itLouis A S F—Jena Os. 1931 J-J
Genera gold 6s
...1931 J - J
St l. A a s' Bit cons g 48..’90'J - J
.Geu 16-20 yr 5s ......192V M-N
bouLtw Div 1st g 6S..1947 A-0
yoVJ*0*‘10
102
Oot’09....
98
101
96«k
66
102
Dec *09
96
62
?
68^1
J•J
1945 J * J
4a..*...„.195«A-0
Tor Mam A Bug lirg 4e.A1940 J -D
I T later A Del 1st oon g os 1928 J *D
121 *9Deo’06 .... 121 124**
.1952 A-O
JjJ Ubref undg 48
106*s Dec.’OO
108 % lit 1 UA Pao RR A 4 gr g 4s ...19476-J
6i 91
......
61*4
.91*4
Registered.
'96*4
.19471J
•J
Jalc
88 *«
89 260 88
oi*y
20-yr oonfv 4s.....
.T927rJ-J
100*4
100*9 AugOS
lOl 1
1st Afef 4s
...p2008 M- 8
64*4 sals
84 »s
65 < 83 83\ 8)
Ore By A Nay con g 48.1940 V *D
116*4 117*4 117»t ll7*a
l [116*8 120**
Ore Short binelstg 3s.4.922, F-a!
62
82
82
toals
13 82
86 !
lit oousol g 5s
.’1946 * - J
lb2*s
100*4 Dec 06
Guar reiuuu 4s
IOOV4 lOO*,;
" '" ’
07
Dec'09
96 } 97
66*« 98 1
Begistered
Utah A Nor gold
63*9 03< 03 *g
93*4 10 91S 96
UniNJBBACCo bee Pa BB
61
84
Dec’09
.^.,.4
76
85 ; UtahOehtrai bte Kio Gr Wes
......
if8V**6*r(
V 108
96
91V
110
1123
103
93V
109V 23 103
May’09
66V
11SV
106
110V
*80'4 *807( 80*4
81*3 220 73
86
S9»a
90
Jan TO;
85 V 60 V
IO0*4111 110 Jan TOj.... 110 113V
87
s7
88
Jan TO1..
61
86
Ioh4
108
bep ’u8'..„
£9Si 92*t 02 V Get *O0j.... 92 V * 8*2 V
87V 82 J’ne’06'....
....
-
104 *3
..110
112
103
109
....
114
107
36
1.3
....
....
,
J’ne’OU,
112*4 Dec’oo
36
ll3*s....
114*3 118
Jan’10
109
....
....
Apt’uyl....
Nov’oU
Deo ’09
110V
100 V 112 V
HO V IUV
105
107
64
38
113
117
114 V Jan TO.... 118 V118 V
103
T16V Apr’uO
8tV
82
Noy’08
107 V Nor’09
106V
104 V 108*4 108 Deo’ob
76
76 Oct ’08
103
lu3V 1U3V
.107 *s
112
Oct *03
108 V.
108 V Deo 00
104
I07v Deo’00
lo7«»^
108 Deo’09
103*3
107
Deo 09
90
93V Jan 07
loi
403
Jan TO
107 V Ul
’106 V109
.....
i*0*i V103 V
107V 109
.
104
1-08V 106V Sep ’00
107 V 108
i037s Nor’09
416
116V 1 18 V Get *09
97 V 07 V 97
87
109
109 Deo’06
1T2
80
70
U1V
83
103
403
100
€6
103
V Nov’U4
HOi 1 07 V 107 V
12
Sep *00
103
01 Deo’09
90V 91
01V uee’09
9 2 V 93 V 02 V Deo’09
69
89
69V 89
-
86
lolV dais
ins bate
UIV
07 V Sale
97V
97 V sue * 07 V
lids 1X7 V lidV
112 V113V 113
9lS 04*4 94 V
107 V108
91V ?5
83V 64V
89
81V
79V 83V
81V 81V
106 V108V
81
81
90
90
103
Jan TO
83
Dot *u9
101 V
102
102
Nov’o9
116
76
106
110 V119 V
112 112
IOI 106
......
81V
109V
uiv 10 111
Nov’09
bsp '09
107 VI13
81
107
103V 106V
...4..
89 V
105 V
110 V
109V
106 V109
116 117
93
91
109 110V
-
111
107
107
83
89
iUijllOlV 704V
..JlOOV 109
116 V lOSd'102 124V
701 03V 100
93
98
241 97 99 V
lAOV
113
li ll7
120 V
2 112 V118
9«?s 25
04
Jau’OJ
08
93
Nov’Ob
UCt ’U9
I
0xV
03 V
04
94
03
93
HO
117 V
107 V D0V *09 ’•**1 99 V107 V
...
79
79
79*9
101*9 Apr’07
Buie
84
,
65S......
77*4 61*4
»
Utah A North bee Un Baoitio
Utica & Black B bee N V Cent
06
Vandal in eonaol g ts ....2955"FJ
88*9 Sale
88
104
98
Virginia Mid Bs«-South By
66
84
99*i 99*4
99*4
66
91
100
87
88*4 18! 87
Oct ’09
Deo’06
69*4
_
_
»•••
109 *9
-si*
Am.*
mmmmrnmm*
Mar’06
61*9 61*9
1st ref and
•
107*4 J’ne’oo
....
'95*91007s
Debenture series Rj.....1939
J*|
let Beneouipsfdg6s..l921 M-S
84
•*•••
83
•••«
lit lien
6l>yr'Rtprm48.1954 J'J
egt g 4i ...‘1653 J • J
.
.
103^1107*4'
Trust Co certfb...............
2U «Old 4s..........W....T954 6-D
WeiV*,
Bold 4a
iCeat Bac coil).*1949 J
91 Ts
92*4 Bale
92*4 T05
Begistered.
*1949 J-D
93^4 Aug’Oa ••V
2U-year conv 4s
1*03
Kale
103
y 1929 M-S
lu5*b 2188
Cent Bao 1st ret gu g 4s 1949 F-A
9 7 *s 'tale
97
67VH4
Begntlereu
1949 F-A
Si*. Sep ’Oi>
Mort guar gold 6 v*..*1929 J -D
98*9 89 V 89 *« Deo’09
l Through tot L 1st gu 4s ’54'A-O
92
94
9.4
V4
16
•ai Bar A 8 A 1st g 8S..1910 F-A 100
101 *4 Apr 09
Bex A 4’ac 1st g 6s....T931 M-N 107
108
lllr»Apr’in«
Gila VGA A 1st gug os.1924 M-N T03*i......
104*4 toep ’09
ILDUS BA VV T 1st g oa.1933 M-N 104*4...
105 St May’ou
1st guar 6s reu
.1933 M-N 100*9106*1 105 Jan TO
8 4 TU 1st* 6s mtgu.,1937 J - J
406** 11.
110
110
8s
lire
Cousoi.g
guar. ..1912 A-O 109*4 nii : 100 *9 Nqv'oo
Gen gobl 4s iht guar..1921 A-O
63*9 05S 94
>94S -41
Waco A N W UlT 1st g is ‘39 M-NI T10 118
I
ill*
Dec'03
•A A A W 1st gu g 6s
1941 J - J 104
107 *9 Jan 00
Morgan’s ba A T let 7S.1918 A o i!6\ 120 122 *4 Aug’U8
lstgoia ba.............1930 J - J 113
113 Nov *00
•
.
.
60
85
65*9
63V
07*9^67 f
*6 6 68V
96
67V
68*9 631*
60*9 6a
lOivtoi^
110
104
103
.
Went Maryland 1st g 4s...l952
Gen A cony g 4a ....M..l952
TrastQocertfs
A-O
A-O
!....
W Va Cent A B 1st g Os 1911' J-J
West N YA Ba 1st g os..1937! J -J
Gen aold 4s...„„
A-O
^.1943
212
luostioov
90
.110107*9107*4
......
Warseu Nw Dei
A
Wish Cent Nee Not Pao
‘
Wash O A W bee Southern
Wash Terml lstgu 3*3S..T945i-F-A
-
^nodthe68..............m943(NoY
mv Wist No Car bm South By
105*4 Wheel’gA b E 2itg:6s...T920 A-O
Wheel Diy let golfl *5s..l928 J - J
103*9*105 j
Exten A Amp gohl 6s..01930-F-A
IO0VHO V*
93
110
112V 110 Oct ’09
98 :
V5V 98
i\j abash let gOid 5S.....T939 M-N 41IV Sue IUV 119*4
Vf
403
2d gold 68...........T939 F-A
103 V
103S
Get A Oh Ext lit g 6s.49416-J
DesMoin Div lstg4s..l939 J-J
Om Diy let g 3V8
,.1941' A-O
Tol A Oh Div lstg 4s...1941 M-S
102*4 103*9
104 403
Web Pitta Term 1st g 4s. 1951 J “D
104*9 104*9103*9 J'ue’09
404 S(....
106
Deo’09
loi
Vi A South w't l stgu 68.2003 J-J
Teteons 60-year 5a
1958 A-0
104
63*9 61
2
J«i* TO
9llsuec'09
107*4 Aug’06
loo
104
98 V
91
era crus ABlst
gu 4 *a»l934
Ver Vai Ind A W bee Mo B ’
»
>
•rifts
Utah
....
.
io2 y Tex A Bao let gdld 5s
2000 J-D
2d gohlino 6s
...o2000fMar
baDiy B b 1st g 6s
1931* J • J
W Min VV A N W 1st ga 6s ’
JO, F- A
Tol A O C 1st g 5s
19351 J-J
Western Dir 1st g 5S...1935 A-O
General gold 5s
....1935 J -D
Kan A Mist gu g 4S....1990 A-O
Tel PA W 1st gold 4S....1917 J-J
67
TolStbA W pruen g3 *as.l925 J • J
.
.
1stg4‘as..l939lA-0
1909
Lew
102 V J»n TO ...; 102
102 - Nov o0
102
lO07s 103*3
......
J-J
‘91
69
Reluntling g 4s
1951 J - J
K C 11 S A Al coug 08.. 1928 M-N
KC Ftto A AL By ret g4s 1930 A-O
KCAM BA L lstgu5s.1029 A-O
Os’rk A ch c 1st gu5~ g.1913 A-O
At Doum So bee iiimoisCeui
At b S VV 1st g4s iHl ctts. 1939 M-N
3d g 4s ino bond ctfs...’pl080 J • J
Consol gold 4s
..1932 J -D
Gray’s BtTerlstgug 5s 1047 J -D
•tPaul A Lui bee Nor PaoUio
At B Minn A Man bee GU Nor
el B a a Or i*ac
bee Nor Bao *
8tP A S'x City been tol B M AO
• A A A Bass 1st gu g 4s...1943 J - J
P istsiua ( g os.1019 J J
sJar * A Weat
see Atl Coast
bj
ioiolo v a. ii.Nl sn.Nut A VV
Seaboard Air bine>g 4s ...4.06b A-O
Coil tr rotund g 6s
1911 M-N
AU-birni 30-yrlsi g 4s.el933 M-S
Car Cent 1st con g 4s... 1949 J-J
Fla cen A Ben 1st g os.1918 J • J
1st >uum gr ext g os ...1930 J • J
Consul gold os..
..1943 J-J
Ra A A
By 1st con 5s ol945 J - J
Ga Car A No 1st gu g 5s -1929 J - J
oeaO A Boa lit 5s
..1929 J - J
•♦her sur a too beebi k a x i
Gu b;> oca A (i Aee-Atl coast bj
Go Car A Ga 6ee Southern
I
-iontnern Paoitio Co—
b
BO^rear gold
131*9
195*4
,
A-0
J-J
gold 6a.... 1894-1944 F-A
Genreftrad ai g ss..„..1953 J-J
68% 101
67*9 100
*93*a Dec:09L.„j
86*4
.....
J-J
J-J
S^Jmue^hternJtlst
g 56 1655^-J
otBt
A let eon
99^3«Ie
J-J
tV Registered....*
..1997 4-J
Jersey Cent coll g 4s. ..1961 A O
10O
94*« Sale
J*J
M-N
M-s
A-O
J-J
J-J
J’lyoo'.^.
00
103*4
J-J
J-J
g 3s....1918 -J-J
Deb 5s Stamped
1927 A-O
Rich A Meek. 1st g 4s...1948 M-N
So Car A Ga lit g 6S....1919 M-N
Virginia Mid ser C6B...1913 M-S
Series D 4-5e.
1921M-8
SerrieeKOs....;
1923 M-S
Geiterai 5s
...1930'M-N
Guar stamped
1933 M-N
'I er▲
.
■
....
MS
.1685 J-J
ft
Tear
1«»4 Vh'ne’081.
114 V Dec’04'.
118
May’ll?1..,.
104
Apr’Ob' ...
......
....
83
Southern—1st oon g 5s....1994 J-J
Begistered
........1694 J-J
Develop A gen 4s Ser A. 1956 A*0
Mob A Ohio poll tr g 4s..1938 M-S
Btgh\ Ife
Feb»«wl...
as* Low
112
104
lOO**
.1943 J-J
Mem Dir 1st g 4*3-58...1996
Bt Louis dir lit g 4s....1951
|Aia Cen B lit g is
2918
Atl A Danr lst g 4S.....2948
2d4a
1948
Atl A Yad 1st g guar 4s.1949
Col A Greenv 1st is.....1913
E T Va A Ga Div g 5s...930
Con let gold 5s
^.1950
E Teh reor Ben g 58
1938
Ga Midland 1st 38.......1948
Ga Bao By 1st g ii
1922
KhOlxA Ohito 1st g is...1925
Mob A Bit prior lien g 5s 1945
Loh bale
MarO»..._
loov Deo’0«.... 100 Viol V
108
M-N
-
116*9 116 Vr 115 Deo’09.... 116
9378 j 'ly’97
,
P
Is
Week’s
Bunge &r
Jan 14
i:5
gold 4s
^Mortgage
filch A Dan Oon
Sag Bus A 11 Istgug 48.1931 F-A
tPkilB &W
Jhrtee
JVttio9
g
Bid
Sontttern Pao Co—(Continued)
No of Cal guar g 5s
05
.1938 A-O
Ore A Oal 1st roar
g5»-1627 J-J 103*,
So Bac of Arts 1st jru g tfs.cTO
100*8
Be Bao of Cat—Ga K A F. 1612
Idit *3
let goM 6s...._......1912 A-O loo
lstconruar g5s
109*4 109*4
96
”8?
t.
8 Pac o fN Alex 1 s
vg os ..1611 J-J
So Pub Coast 1st gu 4s g. 1637 J-J
110*4 HO**.
109*4 J’ly’09
93
Aug’09
90
May'OJ
......
107
106
104
102
Dec’Ob
J ’ne’Oti
90
91
98
v
98 7a
Utah
High Ko 'Low
90*s
90*e
97^ Deo’09
07 V
......
Year
1VL9
|
105*4 104Vi Deo’09
•••*••
BONDS
N. Y. STOCK BXCHANOK
5Fjm*. Ending Jan 14
Banoe
®%
Bang* or
[VOL. LJOtXX.
4
M
BB 1st consol 48
4949 M-S
20-year eqm^’s f 5s ,.-01929 J-J
Wilkes A l&st fijpe Erm
'
•!
Wil A Sioux F Aec St P MA M
*
W*s CCht 50-yr tgtgtm 4sT049uJ-J
SupA Dttl divA term 1st is’33 M-N
98
93
i*05*
« ••* •
74 bale
407 V
85
*88*
73
82
83
93
'Sdmm'axe
47
•7
6V
bale (
sue *
Sale
109
101
»/
Dec *0 J
Jan *10
May’oi*
7«V
HvV Ang’uO
74
83
Dec’00
73 V
Dee’09
90
■00
>.
....
B| 97 V 100
8:101
Xli 67V
X6 42
60
GOV 98 V GOV
87 V
80 V
IUV
38 V 91V
76V 80
51V 582
1AV
87
T08
....
381! 71V
47
18
106
....J
161
....H102V102V
’47
6V
5V
111V114V
9
23
680.
60V
T
p ns
04
41V
7
91V
66*4
66
14 V
7V 14V
fa v
9sv
62% 88
01
73V
70* 74 S63V^ 60V
62
73V
loo s Nov’t/U ..J 10UV 102
112 silR Dec’ub ...110
117
00 V Jan TO ..VI 67
90 V 02
ffV
64
030'07
85 V Sals
• ••man
• • *•
t
105*4 Deo’OD
104
105 V
87
87
08
406 >
Dec Og
87 ?
DeC'08
.Jl05
106
7,|
10
sr-sr
‘•eeee
eeees
.
94
04V 04
02 V
04V J9
02V#0hV
83
19
89V 6§V
92
86
Ul«9KlMNEO(79 ttONOMVMiftliit.
tlunutncthring Sc Inilndtria!
Armour A Co 1 at real est 4 Vs’39
ortii bteel lit ext s I 6e.. 10«9
(-cut Leather 20-year g 5x1925
-corn Prod fief eJ g 6s.... 193i
uiSOltoec Cor cunr 1st g 6s.’27
•eien Electric deb g 3Vs..l9iv
.
J-D
j4
A-Oj
M-N
A-O
F A
10-yrgdeb6s...«...^.. 1917 j-d
Jnt Paper co lit hong is.lbls F-a
Consolciny sf g &S.....1965
Jnt 8t Bump 1stef 5s
.10*29
Laekaw steel ist g 6s....1022
N Y Ait Brake let cony 3s ’*j8
J-J
M-S
A «>
m-N
KepnbXAS lstAcoltrus.1934 A-O
blnon Bag A P lst ei 6s..l9^ J-j
u tt iiesthCo sfdebg3s..l91i M-N
t/G BeaftyA 1 cony deb g6s ’2#j J- J
478 Red A fief 1st it g 98.19311 J-J>
47 8 BubbOT 10-yrcoli tr3s.’i8|J-D
•
64
Bale
83V.J..V
091» Gale
67
03
i‘45
V
28
105
104V
bale
Hate
SUa
90
99
*
90 V
96V?01
100
*
73V 76V
80
1
0{
r
2i
\
toi
86
103*4]
Ul |
93 V 97
03
UW
4 08
_
Ol iscri|iiitCou»
cut srg iS.
99V1
118 V
103 i
63
104
88
-
194» 1
Bush Terminal 1st 4e
105- ‘
Consol 6«.................1055
Chic Jo A % Y irtl col g 58.1016
Det M AM idgr moufne8..l911
lustit for Irrig AVks 4 v« 194^ iht Mireah MJrtns 4 V8..T922 :
I04l4rl5d
a Due
Jan
89
06
102 V 106
!
6 Dote Feb
07
92
toale
83
62V
00
•
DusMsy
10%V
03*4
02
1*05^
105
5►76
09
16
03
85
#D ueJ’ue
03
Det’00
08
bo
0tt V cdt ’09
100
40
87
Deo’09
.....
......
96V
70
efwwwm
jiui’Ch
05
VDtO’Ob
bale
70
83
83
?0V
Jan TO
V5
Deo’O*.
•
04V
Broviueltt boah tooc4Va.l9 il :
3 Yuba 'Wit Cu VOn g t>h.’.X02J'!
dime Apr
104 V
et
95 V 105
......
tut
,
%*\
T04\ Sile
101V >hhs
‘
84 U Adams Ex
17 183
ii
Manufacturing Sc Industrial
0 b toUSei Corp- i MWfp .6193J i
St 10-00 yr os. |rVg ..8190K '
v’a^Car’ChtTm lit 16-yr 6s 1923 v
Wisungbouse E A MV f 58 ’Jfl Ij.j
‘NhVigkuon ists'l 58.1021 ‘
01V 93 * NeVruNeaiup A D D6s«i90O
105 Dee *05
»O4V10<iV N Y Dock 6j-yr l8tg43..19ul
89 V
;94V481 04V 92 1 Broridenee fceo deb 4a.. ..196? 1
Me price Friday; latent bl4aad asked this week,
93
09V
77
05
65
65
89 V
It*V
108 V
1-06 V
03 V Jah To
93VbaA
Gale
104V
113 V
•1U4V106
00
74
82
67
97
104
88 S
09 V lOv
wus*
103V
83
01
No’00
74°u
Jan TO
145 V
147 V
114
......
84V
88 V
99
100
74V
104 V
87
96
69 V
94
0{fyjkn TO
JOS
10IV108 V
UJv 100
90V 66V
PJ
64
81 v
»4V
63V
%*7“*98V
V’fV 96
38V 77
MV
05
.91
83 V
9o
Jan ’00
90
90
05
~J’ly’O0
J’iy’0'4
95
05
112
ADue~J*Ur
102 V
p Doe Nor
9 Option
Kale
CHICAGO STOCK EXCHANGE—Stock Record—Daily, Weekly and Yearly
STOCKS—HIGHEST AND LOWEST SALE PRICES
Saturday
Monday
Jan. 8
Jan. 10
195
♦185
*2
♦6
♦185
2a
10
109
35
19
10
♦10812
*33%
*♦18
♦9
♦35
♦73
♦1612
♦5412
5512
4812
70
19
*16*2
65
65
18
68
56
49
*17
*60
*55
♦17
*60
*55
47*4
*101
1312
*214
133*
♦111
♦140
37
37
*37
♦7H2
73
54
72
51
*1
*2
♦52
♦1
♦2
I"
.
13*8
13
8OS4
79*2
50
*1
50
*2
3
V
127
80
*43
111
♦120
114*8
124
111
121
115
65
18
68
53*2
Ik
53*2
*4i2
34
♦70
16
53*2
65*21
Last Sale 18
Last Sale 70
55
55
65
46*2
45
13*8
79*8
12%
79*4
Last
Last
133
53U
Dec’09
55
43*4
Jan’lO
....
71
*50
*1
*2
1*8
7212
54
1"
69*2
145
*144
12*2
13*8 2,415 American Can.
100
7834
Do
80*4 1,580
pref
...100
Sale 225*4 Oct’09
American Radiator. 100
Sale 130
Dec'09
Do
pref
100
78
78*8 *77
326 Amer Shipbuilding
100
_
....
72
52
*48
Last Sale 1
43
rSale
132
145
71
*48
110
Do
pref..—
1,075 Amer Telep & Teleg
Booth (A) ft Co
124
111
*120
H41a
20
116
124
111
121
115
8
121
109*8 109*8
♦160
♦105
162
105*2
121
10912 109*8
*1617g
105
78
13l4
2112
13*4
21*2
13*2
22
47
17
63
50
97
Nov'09
Nov'09
42
41
131
Last Sale 2*4
144
144
*140
131
7% Jan 30
■
145
20*
Do
rights
Week's
Range or
Period
Jan 14
Last Sets
Bid
Amer Strawb’d 1st 6s. 1911
Armour ft Co 4 H*— -1939
Aurora Elgin ftChlo 5.1941
■Cal ft So Chic Ry Oo
1st M 5b
,1927
Cass Av ft F G (St L) 6s *12
Chic Board of Trade 4sl927
Chicago City Ry 6s...1927
Chic
Chic
Chic
Chic
Chic
Chic
Chtc
Chic
1027f 103%
Consol Br ft Mlt 6s...
Consol True 4 Hs 1939
Auditorium Ist5sl929
Dock Co 1st 4s..1929,
Jc HR 1st M f
6S.1945 M
I2H4
g
101
139
1927
....
.
85*4
t—
100%
95%'
85%
127
92%
...
.
Chic Telephone 5s....1923
Commonw-Edison 66.1943
Chic Edison deb 6s.1913
1st g 5s
July 1926
Debenture 5s
.1920
Commons Eleet 5s51943
Illinois ’runnel 5s
1923
103% 103%
102*4 Sale
tiod’ II”
1102% 103
Kan City By ft Light
Co 6s
.1913
Knlck’b’ker loe 1st 5s.1928
Lake St El—1st 5s...1928
Income 5S—
1925
’85*
Sale
85%
21
93*2
High
96%
102*2
101*4
102% 105
fid’
Dec‘09
Feb’06
85
101%
60
94*2
94*2
72”
85%
100% 102*4
93% 96*4
Dec‘09
Jan’10
Dec’09
101*2 Jttly’09
101% Deo*09
66*2 Aug*08
66*2 July’08
103% 103*,i
102*4 10278
100
5
27
J*ne?08
100*8 Jan’lO
100% AUg*09
102% Jan’lO
80
102% 103%
101
103%
lOO” 10*1%
100% 102%
102
103%
Dec’08
8
68
Jan
1
Deo
42
Aug
26*2 Apr
Apr
71
34
103
May
62*2 Deo
85
Jan
Nov
J’ne
Feb
10% Nov
41*2 Jan
76% Dec
4
125
Jan
200
li«
87
Apr
Mch
128*4 Nov
91
Jan
‘36“ Jan’
% Dec
Dec
o
100
”46’‘Feb
Apr 16
Apr 27
Nov*
Ded
Jan
.30*2. Ant
106
117
Jan 18
107 Jan 21
17*8 Feb 26
70*4 Mch 25
117 Jan 9
38
Jan 26
43
Jan 5
168
Oct
7
100
Jail
118
lira;
80
Jan
HO
47
110
102
Jan 15
Jan 5
11
Jan
Jan
98*2
%
2%
3%
10*2
15
Sep 16
20
162
105
6
Jan 2
Feb 19
Feb 26
McblO
Mch 9
Feb 16
J’nC
J’he
70 Jan
101% Jan
51
91
Mch
Mch
"2o”jrly‘
162
87
Jan
Deo
97
120
87
115
24
72
Jan
Jan
Aug
42*2 Deo
46 <»Ty
106
*
114*4 Jan
>% Mch 26
8% Mch ill
9% Jan 4
20 Nof 4
86 Mohl5'
—
80*2 Jan
88*2 Jan
Jan 18
Dec 23
Dec 29
%>.*•
Dec
Oct
137
Jan
”l9
-----
1. Mch 20
169)2 Dbo 11
121% Qct 80
114*4 Aug 6
5
5
Jan
30
38
124
No?l6
119% Aug 10
100*2 Jan 9
6
Feb 5
119
•
’Il3~’jan
119*4 Sep 27
139 Sep 21
198*2 Dee 31
*2 Feb 25
55
101
153,
Sep
2% Feb
% Feb
•as#!
88*: Deo 28
20 Nov 17
97% Jan 2
118*4 Feb 15
Jan 14
May
57*4 Dec
1*8 Aug
4
Apr
Oct
1
2
to
Sep 23
82
Dec
Nov
Nov
63
104
149
96%
98*4
96
86
16
8
91
Mch’09
85
May’05
L.
_
....
....
Surplus
ing
and
Stock
Profits
Calumet
National..
5100,000
Chicago City
500,000
Commercial National.. 7,000,000
Continental National.. 9,000,000
Corn Exchange National 3,000.000
Drexel State
200,000
Drovers’ Dep National.
600,000
Englewood State
200,000
First National.,
8,000,000
First Nat Englewood.._
150,000
Foreman Bros B’k’g Co. 1,000,000
...
Aug
Deo
Nov
Deo
60" Deo’
Deo
105*4 Sep
134
100
Jan
J’ly
1% Jan
*4 J’ly
“hYriy
12
Jan’
“ii%‘6cV
17
Apr
Dividend Record
In
1908
{339.068
207J686
10
10
J-J
8,382.172 *12
8
4.919.686
all
8
12
9
Q-J
Q-J
5,310,183
29.247
382.087
32.093
12
8.254.451
167.011
*8
563.618
X
10
*55*4
98
93
100*4 100%
98
98
99%
100
100%
120
122
102% 104
103% 105
102%
101% 102
93*2
96%
100
88
102
70
81
81
70*4
96
IQ-M
IJ-M
Ba ak
8
Q-J
J-J
Dec31’09.2
.
Q-M
us.
Doo31^09ll’%
Jan
'C
12
8
*08,2
Dec31*09,l%
:iii
&MD«3i’&,2
Nov *09,3
t/oo
p
d-N
Nemo
3.000,000
,
2,000,000 1
8
«
i
a-M Dec31*08,1%
QrJ July ‘09. 2
Q-J Jan *09,1%
f
841.7
»500
6,
600,
200
•03.6
TO, 5
TO, 2
Jan TO. 2%
Jan TO, ♦
Oct •09,5
Jan TO. 2*2
Jan TO. 1%
Dec 31*09,3 e
Dec31*09,2*2
'1
,000
50,000
mint Trust, ft Savings
vefs’Trust ft Savings
Well Trust Co......
First Trust ft Savhksj
Guarantee Trust ft Sav.
Harris Trust ft Savings.
Illinois Trust ft Savings
Kenwood Trust ft Savgs
%
Deo
Jan
Jan
Dec31*09,2l2
Q-J Dec31‘09,2
J-J Jan TO, 20
10
Q-M Dec31’09,2l|
Q-F NOV 1 ’09.1
QJ DeciS 1*09.2
Q-j Jah
Jan TO, 1%
QJT Deo31*09/1
Q-J Jan TO, 1*|
Q-J Jail r*r- “
Q-J Jan 15
us. No V*09tVA9, p.1320
200,000
Wendell State. 4.
American Trust ft Savs.
Central TrustCo of Dl.-
Last Paid
I
n<L
.618 Beg. b
1,500,000
250,0001
Q-J
Q-J
9
Privfete
15.702
160.920
200.000
200,000
Shlcago
Title ftft TrMt._
Ittnens’Trust
Savings
80*«
102
South Chicago Savings.
South Side State.
State Bank Of Chicago..
Chloago Say Bk ft Tr
82*4
96
500,000
250.000
300,000
Railway Exchange...
A-O
10
6
_
Security
Period
An
6
1.0100,000
377.987
157.069
500,000
1,500,000
837,615
200,0001
132,458
1.250,000
467.289|UH-3
Monroe National-....
300,000
64.091
Nat Bank of Republic._ 2.000,000 1,153.655
National City..,
1,500,000
606.725
National Produce
250,0001
69J979
North Avenue State...
200.000
60.637
North Side State Sav’gs
50,000
North West State.,
2OQ.000
People’s Stk Yds State.
300,000
Beg. b
Prams National.......
260,000
Prairie State..........
in
1903
0
Fort Dearborn National
Hamilton National—__
Hibernian B’k‘g Ass’n..
Kaspar State Bank
Live Stock Exch’gC Nat
Stock Yards Savings...
Union Bank of Chicago.
96% Deo’09
Bid and asked prices; no sales
were made on this
.
...
22
Jan
..
i*
Metr W side fel—
let 4s............1938
84
14
83*g Sale
83%
Extension g 4s
80
1938
80%
Morris A Co. 4 H
93
1939
93
93
North West El 1st 48.1911
1911 |M95*4 Sale
95%
95%
NO W G-L ft Coke Co 5s*28
98% Dec’09
Ogden Gas 5s
—.i»45
Sciie
94*5
94*8
04*8
Pearsohs-Taft 5s
.1916
15%
100% Mch’09
4.40s
....
96 Nov’(|9
4.60s Series E
M-N
98
J’he’09
4 .80s Series F
..... M - N
lOO Mch‘09
98*g ...
Peo Gas L ft c 1st 6s.l943 A - O
12)% May‘09
Refunding g 6s....1947 M - S 103*4
103*4 Dec‘09 f—Ohio Gas L&C 1st Sal 937 J - J *104% 103*1
Sale 104%
104%
Consum Gas 1st 5s. 1936
102%
...
102%
102%l
Mut’l Fuel Gas Ist5sl947 ;J - D
102
101%
Dec’off
South Side Elev «Hs.l924
94
94
94*2
Swift ft Co 1st g 5s...1914 J - J
100*2 —
100% too%
union El (Loop) 5s.. 1945
....
-Nov’09
88
92*2
Union Pacific conv 4s.1911
114
Nov’01
United Box Board ool 6s’26
W
80 Dec’09
*U
General nrtge 6s
76*2 80 NoV‘09
Western stone06 5h..i909
lyW
Note.—Accrued interest
bead’de’Yto all Chicago h ond
W
Low
91% Dec‘00
101
Jan
13*4 Aug
46
Aug
12*4 Nov
42
4
t
May’U7
103%
Apr’04
Apr*09
96*4 Jan‘06
95
Aug 27
Apr 27
2*8 Apr 27
20
Mch24|
Year 1909
101
84*4
101*8
Feb 24
51*4 Jan
for
101*4 Oct*09
100
103
103
50
19
54
30
68
J’no 4
225*4 Oct 29
132
J*ly 21
81% Deo 11
112 Sop 13
145
Nov20
1
Jan 2
6 Jan 5
40 Deo’ 7
76*2 Dec 27
Outstand¬
NAME
Range
102
87*
85*;
101*4 Sa b
— —
Chle Rys 4-5s series **A’*
Chic Rys 4-5s series “B” 1
Ohio Rys 4-5s series “C”
Chto Rys coll 6s
1913
Chic Rys Fund 6s..1913
r'hle Rys Tem Ctfs 1st 5s
Chic it I ft P RR 4S—2002 “
Collat trust g 5s...1913
B’ds
Sold
J’ne’09
102
94*
-
No shore Eiee 63.1912
Pne Too! 1st 6s.al921
Ry 5s
102
V
Doo
Deo
NOV
Nov
Feb
Oct
Scd
Chicago Banks and Trust Companies
Ask Low
High No.
100
Mch’07
Sale
26
94*2
94*2
94
13*2
30*2
47%
86*2
...
BONDS
Pries
119
9*4 Sep
15
86
54*8 Apr 21
1
....
Friday
Nov
J’ne
Deo
15*4 Nov 19
6
Jan 14
Jan 21
Chic Brew’g ft MaJt’g
Do pref
—
2 286 Chic Pneumatic Tool. 100
625 Chicago Telephone
100
....
....
est
Feb 15
71% Jan
200
126
100
....
Mch’08
121*2 12112 121*2 121*2 1201s
*21
23
21*4
Inter-
47
28
5!
29*4 Apr 13
Deo
3*8 Aug
10 Aug
Oct
Nov
38
20
19*2 Dec 17
59
Dec L’U
May 6
May 7
61
May 7
541* Dee 13
196 Deo 1
Jan 14
Novl7
Jan 6
Jail 25
J’ne 16
Chicago Bond Record
CHICAGO STOCK
EXCHANGE
Weak ending Jan. 14
Dec 21
Dec 11
15% Sep 13
185
6% Dec
84% J ’ne
Jan 2
Jan 29
Jan i
Jan 2
Jly 7
13*2
29*4
52
86*2 MaylS
1
48
_pref...
....
1212
21*2
Dec
*8 J’nelO
% May 22
May24
Do
*160?8
165
105
45*4
30
3*4 Dec
30
10
72
52
2%
100
....
161*2 162
Dec 13
10*2 Dec 13
....
161*4 162*2
♦121
121*4
Oct 21
305 Booth Fisheries com....
668
Do pref
248 Cal ft Chic Canal ft D.100
....
....
*18"
1*115
30
160
Jan
1% Feb
4
97% Dec 7
100
166 Chic Title ft Trust.
100
570 Commonw’th-Edlsoh.lOO
21*4] 450 Com Prod Ref Co com...
Last Sale 86*4
1
Oct'09
Do
do
pref
127
127
126 126*2 125 126*2 124% 125*2
510 Diamond Match—-—100
76
77
76
77*2 79
77*2
847 Illinois Brick........100
77V
76%
*43
*43
Last Sale 46
Jan’lO
Masonic Temple
....
Last Sale 2*8
Mllw ft Chi© Brewing
June*07
*15” *&>
*18“ 20
Last Sale 20
Nov'09
DO pref
——...
115
115
114
114 *113 115
113
226 National Biscuit..... 100
114%
*123
124 1*123
124
124
124
*123
125
92
Do
pref..—.. ...100
110 110 *10912 110*2 *10912 110*2 110
110
96 National Carbon——100
*120
121 *120
121
Last Sale 122*2 Dec’09
Do
...100
pref
11312 114
113% 113*4 113*4 114*4 112% 114*41 1.225 People’s Gas LftCoke.100
Last Sale 11-16 Mch'09
Do rights
.....
I6O" 161*2 156% 160 ' 156*8 159
156*2 159*2 5,932 Sears-Roebuck com..100
121
121 *121
*21% 120% 121*4 121% 121*8
Do
148
pref
100
109*8 1095s 109*8 109*4 109 109*4 1087* 109*8 2,778 Swift ft Co
...100
Last Sale 7
Feb'09
Do rights.—..
163
163
165
162
162
*160
163
27 The Quaker Oats Co.. 100
105
105
105
105
105*2 105*2 105 105
91
Do
pref
100
Last Sale 1*2
Unit Box Bd ft P Co. 100
Apr’09
Last Sale 3
Do
Apr’09
full paid
Last Sale 7%
Apr’09
Do
pref
.100
13
13
13
13
*13
Do
2,763
full paid......
13l2|
22
22
20
20
21* 22
529 Western Stone......100
12112
Feb 3
Jan 22
15
Jan 22
119*2 JTy 2H
Highest
Miscellaneous
13
81
78
*112
115 *112
116
139*8 139*2 *139 140
138*4 138*2
Last Sale *8
June’09
Last Sale *4
June’09
37
38
38
3712
36*4
38
78*2
....
Northwestern Elev
TOO
Do jpref .........100
25 South Side Elevated.. 100
5.178 Streets W Stable O L.100
Do
pref
100
Aug’09
40
46L
Last Sale 104
105
*130
*78
*112
&
31%
Lower.
190
5
17
10
5
34
72
16
*8
Mch
U2 Oct 22
-—
.
♦43
124
*?2
9*2
180
tange for Previous Yt
(1908>.
Higher
....
110
*15
40*2 417g
41*2 42*4
131
134*2 134*2 133 133
♦144
121
22*4
20
116
133
17
*8*2
4*4
Jan’lO
31*4
Lotcesi
Railroads
Chicago City Ry
100
Chicago ft Oak Park..100
Do
pret
100
20 Chic Rys part ctl "l”.-.
820 Chle Rys part ctf “2”
135 Chic Rys part ctf “3,,_._
174 Chic Rys part ctf “4’*..
115 Chicago Subway
100
75 Haas City Ry ft Lt._100
34
Do
100
pref
10 Metropol W S Kiev.. .100
471
Do
pref
.—100
Dec’09
Jan’10
*103
32%
17*2] *16*2
79
78*8
61
80
70%
*214
7212
127
35
12%
...
32
9*2
47g
•541s
72**
81
•18*
*17
*60
7312
126*2 127
♦115
18
68
56
37
146
121
81
*68
37
145
121
22*2
70
19
39
40*2] 40*2 40*4
135*2 136 ~ 135 135*2
146
121
35
78*8
lilts 112
140*4 *139*2 140
40
♦144
121
36
13*4
80
*214
*130
78*2
140
140*2
*8*2
4^8
107*2 107*2
*15
17
46
46*2 47*8
1*101 105 *101
133*
*130
*78
♦112
79
32*2
Range 1or
Year 1909
cmcMPoc*
EXCHANGE
Week
Shares
Jan. 14
Last Sale 712
10
110
Friday
Last Sale 185
Last sale 2*2
2*2
*16*2
5412 *5312
54
105
13*8
80*2
9*2
4*4
*5?
36
73
81
*78*4
4*4
37*2
70*2
♦1612
6512
♦214
♦130
9
75
19
51
105
13U
80*4
9
♦412
♦35
18
68
♦101
195
212
37*2
5512
♦17
♦60
*18$
195
2l2
Sales
of the
Thursday
Jati. 13
Jan. 12
*2
10
10
*6
*6
*106
110
107
107
*106
32
32*2 32*2
3212 3212
16
16
15*2 15*2 *15
4*1
4*4
Jan. 11
195
♦2
♦6
Wednesday
Tuesday
J,
103.069
i
.
Q-J Jap
Q-J Jan
TO, I*i
T0,l*i
*09,2
TO, 2*i
TO, 2
TO, 1%
DeeH’OO, 4
V.87,p.1138
Jan TO, 7%
Jan TO, 4
Jan *10,1%
Jan TO. 1*4
Jan, TO. 3
Jan TO. 1%
Jan TO. 2
A-O Ow
Q-T Jan
Q-J Jan
Q-J Jan
1,500,000
209^87
2,000*00 3.083J548
fQ-M
14.618 Ineorp prated 1908
200,000
1,250,000
Q-J
5,000,000
460.043 1644
J
200,000
6 H Q-J
55.512
LakeVlew TrustftSavgs
36.747
200,000
Q-J
Merchants' LbanftTr Co 3,000,000 6^0063
12
Q-J
Metro polltan'frust&Sa
6
252.643
760*000
Q-J
Northern Trust Co..
1,500,000
8
Q-J
North-Western Tr&Sav
200,000
6
J-J Jan TO. 3
Pullman 'Drust ft SaVgs.
5OO.0OU
8
189,967
Q-J Jan TO,2
Sheridan Tr ft Sav Bank
ui J’ly 12 *0 0 V,B9,p"441
200,000
24.974
Stockmen's Trust ft Sav
200,000
Union Trust Co....... 1,200.000
fcS+2
Western Trust ft Savings 1,000,000
6
Q-J Jan TO, l*i
West Side TrftSAvBank
200,000“
buslne s«Se pt 5 1908
76.164
Woodlawn TtftSavUanl;
200.000
6
39,239
Q-J |Jan TO. 1%
fc167^60
«
2-u„
*
‘■Slili:
&
pri ces.
—-
day. -TNov, 10 (close of business) fox national banks and Nov* 17 (opening of business) for State
institutions.
|No price F'riday; latest price this week, tf
a Due 1>pc.
Dec. 31._
51.. b Due June..
June. ^ fc Also ?o% ,n
iiu^MMi.
in «♦"•**•
stock.
q Dividends are paid Q-J.
«Capital and surplus to^be.t|*cria»ed.
r As or dat) April 29 1909.
s In addition the equivalent of 4f4. more
& Savfngi Bank,
came from First, wist
t As of date Sept
u
909.
Increased in 1009.
• In addition tlic equivalent of
l% cant* from First Trust ft Sav. Bank
.
,
n
_
BOSTON STOCK EXGHANGE—Stock Record. Daily. Weekly and Yearly
8HARB PRICES—NOT PER CENTUM PRICES
STOCKSv
BOSTON STOCK
EXCHANGE
Sales
the
Week
Shares
Oi
Wednesday
Jan. 12.
Tuesday
Jan. 11.
Monday
Saturday
Jan. 8.;
Jan. 10.
Thursday
Friday
Jan. 13
Jan. 14
I Range tor
Range for. Year
1909
Lowest
Railroads
Jan 13
98
pref__.._..._100 100*4 Jan 15
Boston & Albany
100 225. Jan
Boston Elevated.....100 124% Jan
Boston As Lowell..
100 223% Dee 16
Boston ds Maine.....100 132% Jan 2
Do
pref__..__.__100 151 Feb 26
Boston & Providence. 100 295 Sep 14
Boston Suburban El Cos.
1134 Jan
Do :pref
i_
60% Jan
Boston & Wore Elec Co:.
10
MaylO
Do
pref
46% Dec 24
Chic June Ry ds USY.100 143 Jan 25
Previous Year
*1908)
Highest
Lowest
Highest
i
123
123
*1223., 123
*120% 120% 121% 121%
•103% 104% ♦1041s 105% *103% 104% ♦103% 104%
232
233
232% 232»4 234
233*4 233% 233%
135
136
134% 135
135% 135% 13434 135
1*225
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148
148
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298
298' 298"'
...
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154
117
16
11%
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47
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117% 118
118
<
132
18
181
18%
•
80
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157% 1571
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74
18
80
18%
«
157
190
18
80
157
18
80
157%
199
199
34
34
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104% 104% ♦104% 1Q4% 1043g 104% *10438
202
202
200 200*4 1987g 199% 199
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W—-■
94
232
94% 94%
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94%
107
232
218
135%
900
50
...
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150
150
Sale 152 '
Last Sale 298 •
16
16
16
292
150
July'09
io"r
:.19%
80*4
>157%
199
..
94%
115%
104%
1993/
1021
94%
♦106
—-
Do
-
Dec’09
16
13
325
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60
142
164
117% 117%
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80
107
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130 Atch Top ds Santa Ee.100
120%
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.
180% 129 129*4
105% *104
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sites
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,
,
.
135% 136
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Last Sale
♦45
47
11%
46
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104%
16
117% 117%
.
....
;
226
148
118%
Last Sale
232
232%
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74
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46
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'
226
148
....
148
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132
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15
15
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154
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....
148
120% 120%
Last Sale 170- July'09
Last Sale 139% June'09
Last Sale 270
Oct’09
130
129% 129*4 -130
104
104
104
104
Last So. le- 88%
Dec’09
Last Sale 195
Oct'09
Do
pref
;._.—10Q
Con & Mont, Class 4..100
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r
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9
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52
2034
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63
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16
73
72
10%
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16
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11
234
If. 34
17
6 434
18D
66%
18
73
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11
36*4
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37
38
39
5334
61*4
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478
45%
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54
63
6134
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54
52
5234
53
52%
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51
51%
5
60
5
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>
11% 12%
150
150
2%
149
:
2%
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6
12%
150
21,
44
57%
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12
*148
2%
59
5
12
150
llnrl
43
*5584
4%
11%
149
2%
I
635 Allouez
25
2%
J’ne 23
J’ly
Mch
142% Mch 25
275
Mch 10
136
Feb
103
Dec 22
88io SeD 15
195% Jan 13
19
84
Oct ‘
Nov 3
Am Zinc Lead ds Sm_. 25
25
16 Anaconda
8,740 Arizona Commercial. 25
Arnold
25
1,400
25
4.350 Atlantic
10
900 Bonanza (Dev Co)
3,843 Boston Con CdcG(rets) £1
65
23
2,100
10%
11%
33
5
27
341
9%
83
18
7%
1%
4%
2534
7%
16%
5
44
561/
4%
12
149
3
12
1%
61%
162
20
88
2%
16%
64%
10%
15*4
67%
47 lj
15%
19*8
20124
2578
94
665
35
.15
83
8%
12
2
11% 12
109% 110
46%
1%
19
11%
'ioi'a
33
5%
670
35
.15
84381-
12*s
2
21
11%
'll
3o34
5%
27
o614
27
10
90
83
87%
17%
7%
1%
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19
8%
13
9%
1834
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8
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10
41
17*8
14%
1%
11
52
164*
20*4
89
21
16%
66
17%
16
10
20
83
70"
....
4,453 Copper Range Con Co 100
20
270 Daly-West
5,898 East Butte Cop Min.. 10
12
2,540 Elm River
25
14,431 Franklin
5
24,444 Giroux Consolidated.
349 Granby Consolidated. 100
Greene
Cananea
20
7.5/3
10,800 Hancock Consolidated 25
25
1.0.J5 Helvetia Copper
2.351 Isle Royale (Copper). 25
Kerr
Lake
5
5,521
....
25
52,607 Lake Copper
12,924 La Salle Copper—... 25
25
5,820 Mass Consol
25
3,225 Mayflower
.......
2,200
7*661
Mohawk
25
Montana Consol C ds C 10
Nevada Consolidated.
5
10
5
2,220 Nlpissing Mines
15
42% 15,774 North Butte—
Lake
North
($8
paid).
25
17% 93,614
1% 7,404 Old Colony......... 25
104%
20
88
’
16%
65%
16%
15%
15
10
68 Calumet ds Hecla— 25
25
1,160 Centennial.
1
1,500 Cons Mercur Gold—
264 Mexico Cons M ds S— 10
434
5
26% 20,165 Miami Copper.......
25
725 Michigan
.02% Jan’10
25%
26%
42%
162
28%
l(i34
68%
171
101
67i:
665 Old Dominion.......
.....
425 Osceola
1,792 Parrott (Sliver ds Cop)
......—.
305 Quincy
1,250 Santa Fe (Gold ds Cop)
—
4,461 Shannon
J’ne
6
107
98% Apr 23
Apr 27
Mayl9
112
146
978 Feb 23
22% Nov 1
136
131
Apr 8
Apr 13
911 Tamarack
1,438 Trinity.
38% 38%
6*284
62% 63
52% 62%
*4%
4%
42% 43
56% 66%
4%
5%
11% 143$
52
4%
42
5578
6%
13
149
40%
5234
3,344
53
1,841
4*4
42%
65%
6*4
25
25
10
Oct 29
Feb 25
730 J’ne 16
90
Feb 26
9
Feb 26
8% Sep 10
51
3,510
3,481
210
Dee 23
710 Apr 30
16 “ Jan 30
1034 J’ly 10
4% Mch 18
.30
Apr 29
3% Apr 16
1234 Feb 26
53. Oct 15
*57% «ny M
.09
Dec 15
16% Feb 26
Q78 Oct 8
47
Deo 24
4% Mch 22
.40
J’ne21
47% Feb 24
Feb 2e
Deo 28
25
83
10
10
Dec 6
1% Nov 15
13% Feb 26
Jan 5
34
13% Nov 6
1278 Apr 27
62
J’ly 16
9% Dec 29
7% Nov 4
28 Jan 12
39
Feb 25
25
1,925 Victoria
15,740 Winona
o
22% Apr 27
122
19
25
United Copper
100
UnltedStatesCoaldsOIl 25
U S Smelt Ref ds Min. 50
Do
pref...
50
Utah-Apex Mining.., 5
Utah Consolidated—,
5
Utah Copper Co
10
.
.25
25
62
Oct
1
96% Nov 19
40% Dec 27
54
Dec 30
1
18
.80
1
13
44
4
■»
,
Jan 8
Oct 29
37% Feb 24
39*4 Feb 26
i, Oct 28
4% Apr 30
244
117
67
81
193
Feb 17
Jan 2
May 7
23% Dec 13
24
Dec 30
33% Nov 19
119
695
Jan 4
Aug 13
44% Sep
.35
3
Jan 15
8634 NOV 19
12
Mch 19
16% Apr 20
2% Jan 15
19
Aug 3
12% Nov 19
110% Dec 29
14% Nov 16
38
Dec 22
Aug 9
Feb 19
Aug 19
Dec 21
Dec 17
18% May28
7%
33%
9*8
74%
19%
1
6
Dec 22
Nov 19
28% Dec 3
13% Mch 4
70% Jan 8
.40
Apr 6
30
13
Nov 19
Sep 21
85% Jan 2
11% Aug 9
.90
59
170
Dec 22
Aug 11
Dec 23
36% J’nolO
Jan
4
278 Jan
17% Jan
8
4
99
67
Dec 17
18% May28
18% J’ly 6
90
Feb 25
17% Jan 23
16% Jan 8
39% Novl6
59
54
Sep 21
Oct
4
6*4 Jan 26
4934 Nov2o
66
6
No *20
Dec 22
*13% Deo 17
Jan
Jan
Apr
Oct
Nov
'
2%
—
......
Jan
Nov
Mch
Nov
Jan
Jan
Dec
Mch
Apr
Dec
Nov
Dec
Dec
Nov
13% Nov
Jan
Jau
J’ne
Apr
Jan
Jan
64
161
145
205
•
Nov
Nov
Apr
Feb
196*8 Deo
34* Dec
95
Dec
102
Dec
Feb
185% Nov
97*8 Nov
Nov
161
91i*» Sep
Jan
Jan
<110<'Dec
Jly
140
Mch
Jan
13
Mch
77
Feb
4
9U Feb
35
96
12
23
Nov
Nov
99% Jan
Feb
Jan
Jan
77% Feb
3
Jan
106
99
16
96* •>
Jan
14% Jan
4% Mch
Mch
201
111
49
77
192
1
40
75
105
511,
147 “
9
132
NOV
1321, Nov
32% Dec
961* Nov
4U Dec
128 * Nov
21% Dec
8% Nov
253
Nov
Apr
215
3
78
Mch
Mch
Mch
Jan
J’ne
Jan
Apr
Jan
87% Jan
4
Feb
Deo
Deo
137% Nov
162
00
90
88% Jan
20
Jan
23
May
1% Mch
1141, .lan
38% Jan
24% Jan
26
*
Jan
Mch
Jan
Dec
Dec
Nov
Nov
Oct
Nov
Dec
Nov
Dec
93
128
79
1741* Nov
101* Nov
108% J’ly
24
Oct
26*« Deo
2i-*
148
Jan
“ J’ly
623s NOV
Nov
5834 Nov
30
114
Nov
91, Nov
59
Jan
80% Dec
H,
24 “
45
Feb
Apr
Feb
12% Aug
41% Nov
88% Nov
2034 Jan
28
14
.40
8
.25
Feb
Jan
Feb
Apr
Om
10% Apr
11% Apr
15%
93
z566
21
.25
55%
7
30
53
40% Deo
Aug
19% Nov
“ Nov
18% Nov
Nov
Aug
Aug
Jan
.75
Feb
Mch
Feb
Mch
.45
Jan
Feb
Jan
834 Dec
Mch
619 Apr
.99
Jan
678 Jan
80
J’ne
Nov
.50
25
30
130
700
3634 Nov
J’no
8378 NOV
1178 Nov
10
Dec
2*4 Nov
19% Nov
J’ly
13% Aug
110
1734
Feb
26% Jan
10
Sep
24% Deo
17% Jan
83s AUg
12% Jan
2% Mch
.25
Jan
31, Dec
834 Sep
7% Feb
Feb
45
J25
Dec
83s Jan
4034 Feb
.50
28
77
Jan
Jan
Feb
10% Jan
Feb
1% Apr
934 Feb
14
Apr
77
14% Oct
Mch
12% Feb
4% Mch
9
Mch
56
28
37
Mch
Feb
4*s Sep
29% Jan
2878 May
2% Apr
4% Jan
115% Jan
15
149
25 139
....
62 Wolverine
Mch 18 158 Aug 12
334 11,155 Wyandot
a 25
2
Oet 6
4 .lan 16
.50
May
and asked prices^
d New stock,
e Aas’t paid, h Ex-stock dlv. A Ex-rights, a Ex-dlv. and
150
150
2%
3%
1201 *»
165
138
263
133
80
85
193
Dec
8% Jan
76
98
138
Jan
Dec
Jan
151% Deo
133% Sep
50% Aug 12
105
Jly 23
51*4 Deo 30
68% Feb 26
7% May28
7% Feb 1
Jan
Jan
8S% Jan
110U Mch
7834 Apr
150
Jan
Aug .9
Sep 2
200% Jan 18
30
17% J*iy 14
21*8 Feb 24
96% May 3
585
Feb 26
29
Feb 1
.10
J’ne26
47% Dec
126
102
163
Aug 31
218*4 AUg 10
117% Aug 16
175
Apr 17
149,
215
,30
8
.45
25
9,513 Superior.
6,770 Superior ds Boston Min 10
5,705 SuperiordsPitts Copp. 10
10
10
"16" To"
Last Salt 3
Dec’09
39%
61%
5
Feb 26
Feb 26
Dec 14
J’ly 16
Feb 16
10% Mch 15
...
14,148 Bos&CorbCopdsSUMg
27
3,100 Butte Coalition
97% 2,606 Calumet ds Arizona
Mch 27
38%
Oct
Feb
284
Jan
0
Mch
45
Jan
8i« Nov
114
117% Aug 16
174?8 J’ne 11
40
140
228
140
156
301
13
58
17
60U
200% Feb
40
123
140
209
175
25
70
Feb 1 145% Sep 29
Feb 4 40% Aug27
Jan 15 108 J’ne 11
Jan 29
Feb 26
34
86% 14,194 Amalgamated Copper 100
'ii%
23
83/
41*4
20
4%
83%
10%
*21*
4%
4434
8*4
670
35
.16
44
26%
73
4*4
44%
♦59*4
96
70
03
Last Sale
26
201
10
10%
25*
•
27
24%
27*2
99%
17*.
16
71
10
52
23
17
67%
*21,
20%
-.00
21
12%
163% 105
234
17%
65%
16%
16%
*.50
1%
11*:
12
2
*7
10
42
9
1
52
10%
12
2
18
4%
27%
7%
26-%
46%
1%
47 ‘
670
35
*.11
83
10%
45
38
670
36
.16
84
9
93
183/
4%
26%
3
77% Nov 4
14% Mch 12
55% Oct
162
123
173
12Ho Dee
130’
Apr
Jan
Feb
"
8734
17%
G34
5
301
22
.......
87%
38%
67% Feb 101% De«
83% Mch 104% Deo
181% Jan^ 230 Deo
-
135
235
153
160
.....
1078
93S
90
20%
22%
27%
239%
—8
Apr
Dec 301
“
Mch 19
Nov
-
901171/
43/
34
-
Jan 18
Jan 26
Jan 13
Nov30
Nov30
J’ne
.
10
634
1%
35
122
Jan 2
106
103
102% 103
102%
7
81
7%
Apr 1
8% Oct 26
144' 144
370 Cumb Telep ds Teleg.100 125 Jan 25 147*0 Nov 9
143% *143 144
10 Dominion Iron ds Steel..
72%
69%
69%
18% Jan 11
71*4 Dec 11
805 East Boston Land
11% “n'Tli
7
Jan 4
137« J’ne 9
482 Edison Elec Ilium... 100 245 Jan 2 260 Apr 7
246% 246 246% :244~ 244*’
General
Electric
154
327
157
..100
158% 157% 1577«
150*8 Feb 24 173 Aug 7
81
80
80
80
8078
Jan 5
2.238 MassachusettsGasCo8 100
59
83*4 Dec 22
Do
95
95
94%
9434 95
1,092
pref
...100 89 Jan 5 97 Apr 23
216 *21512 216
10 Mergenthaler Lino .100 2021* Mch 12 220% Dec 16
*3%
3% “3% "3% 1,081 Mexican Telephone.. 10
2 “Jan 5
3% Oct 15
123
302 N E Cotton Yam....100
123% 124
123% 124
68
Apr 24 125 Oct 26
Do
115
115
115
....100
249
pref
118
Oct 16
Jan 2
93
232 N E Telephone......100 126% Jan 5 139
13634 «.... 1383/ 136" 136*%
Sep 20
Pacific Coast Power.. 100
101
Last Sole 100
Jan’10
75
Feb 6 108 Oct 13
191
191
191
189
189
.100 168 Jan 30 199 Aug 7
""56 Pullman Co
1134 *11% 12
25 Reece Button-Hole.. 10
12
Sep 29
.984 Jan 11
.100 100 Jan 9 114% Aug 6
109% 109 109% 108% 109
1,286 Swift & Co
34
34
95
Torrlngton,
A..
25
Class
34
Deo
*33%
27
20% May21
28
Do
28
pref
25
16
35
Nov 8
*27% 23
24% Jan 29
Union Cop L’d ds M’g. 25
Last Sal- 1% * Dec’09
2
Jan 26
1
Apr 2
167
167- 167
*206 United Fruit........100 126% Jan 13 170 Dec 22
166% 166;
63
69
6834
68%
68%
2,604 Un Shoe Mach Corp.. 25 254 Mch 19 71 Oct 7
Do
30
30
301
pref
25
1,070
31% Sep 21
28% Jan 11
87%
8534 871, "84% '87% 14,700 U S Steel Corp..
.100
41*4 Feb 24
94% Oct 4
Do
303
123% 123% 1231- 123% 123%
pref.........100 107 Feb 23 131 Oct 4
17
17
17
17
752 West Telep ds Teleg
100
19
Dec 22
17%
6% Jan 11
Do
94
94
54
pref.
...100
96
Dec 20
93% *93% 94
76
Mch 3
Mining
7
7
8% 9,385 Adventure Con...... 25
8%
7%
47g Oct 28
10% May 28
27%
5%
8%
71%
35
28
271?
10%
62%
123
36
5
28
20%
10%
43%
163
1
11
.55
3338
67
.75
47%
100
670
670
36136
.11
*.11
84%
123*4
..........
100%
0678
90
2*4
17%
167
2734
7%
20%
90
*27%
27
♦7
21
90
20%
11*4
878,
1
.99
11
11
.55
*.50
2H21
22
2234
672
34
28
109
34
86%
123
48%
11%
30
68%
*"
*98
19l
191
10934
.....
*34
*
rTt_.
7%
19
138
T-—
683s
68%
30
30%
34
.c,828
5%
28
167
55D
881391/
1103*
11% n8c
11*8
27
10
73
.99
670
36
.16
37%
12%
1*4
17*4
12%
*27%
17
94
21%
*22%
27*2 28%
100% 101
101
675
12%
*1%
17%
H7S
11%
32%
5%
*.80
11
*.50
23
28
10
110
tl84
.
21%
*9
11%
c%
:
88%
48%
191
109
34
34
28
167% ?67%
68% 69
30% 30%
87% K)
124% 124%
*17
115
137
*98
191% *190 192
11% *11% 12
109% 109% 10934
34
*
12234
114%
13634 137
7
18*4
139% 139*4
123
115
123
115
137
102% 103
Miscellaneous
4612 1.782 Amer Agricul Chem.. 100
33%
Do
103
433
~
100
pref
94
Amer
Pneu
Service... 50
7% 1.443
55.
Do
50
pref
1,030
13
124
803 Amer Sugar Refln..._100 zll4
Do
601
pref.........100 X117
12234
139*4 6,751 Amer Telep & Teleg-_100 125%
American
Woolen
34
100
87
27%
Do
103
630
pref.. .....100 93%
10
400 Boston Land
3*4
46%
102%
7%
139*3 13978
-
122
47
123’
103
103
102% 103
102*4 103
102%
•*7%
8%
88%
*7%
8%
*7%
143% 143% 143% 143% ♦143% 144
143%
*71% 72
♦71% 72% *71% 72% *71%
11
11
*11 v 11%
11
11% 11%
247
247
247 247.
246% 247
24534
*159
160
159
159% 158 158% 158%
801'
8)
80
807g 81%
81% 81%
94
-92% 95 V} *93% 9434
9378 94
*215
215% 215% 215% *216%
*215%
3
7%
19
47'
1221* 123%
122
123
122
122
139% 140
36
48
Jan :6
Jan
Jan 15
‘
"
’
115
170
139
267
244 Fitchburg, pref_
100 128% Novi 1
70 Ga Ry & Electric....100
75
Jan 5
Do v pref
100
79
Jan 14
Maine Central
__100 195
Oct 11
19% 3,650 Mass Electric Cos....100
-18%
18*4
11% Jan 12
Do
-v 81
721
81%
80%
80%
pref
.100
58% Jan 15
157
157% 156% 157% 1,611 N Y N H & Hartford. 100 4153 Noy 8
Northern N H__.._..100 146 Feb
Last Salt 149
Aug’09
Norwich & Wor pref. 100 200
Last Sole .10
Dec’Ofe
Apr 13
199
199
77 Old Colony
100 190 Dec 8
,
15 Rutland pref
26
Apr 27
100
132 Seattle. Electric.
100
90% Mch
Do
32
100
104%
pref
104% 104% 104%
971** Apr
196% 197%4 194% 196%
761 Union Pacific.J.-...100 :rl7278 Feb 26
Last Sale 103% JanT-OT-Ui.. —Do vpref.
1Q0
93% Mch 2
Vermont ds Mass.....100 165 Jan 20
Last Sale 168
Jan’10
*94
323 West End St
—^..50
94% .«4%
88 Jan 2
Do
=106
19
10/ : 107
pref —50 1021 Oct 12
Wore Nash ds Roch
Last Sale 145
100 144 Mch 12
July'OS
'
48
Nov
125% Oct
.75
8
J’ly
Jan
15% Deo
15% Nov
Nov
13s Jan
73
20*4 NOV
8934 NOV
i"’Fly"
60% Deo
135% Deo
31% Deo
Aug
33s Nov
19% NOV
36% NOV
100
20% NOV
88
NOV
25
Aug
16% Nov
3034 NOV
4678 NOV
47
7
60
53
5
NOV
Nov
AUg
Nov
Nov
<7*4 NOV
175
NOV
8% Oct
rights/-"*
Boston Bond Record
JAM. IS 1910.1
.
iiUA US
BOSTON STOCK BXCH’GX
Week endiimi Jam 14
It
WeeVs
1939
Convertible 4s
Am WnS Paper 1st sifts* 1919
Aris Com Cop 1st conr 6s 1918
A too Top A S Fe geo g 4s.. 1996
104*4 10ft
94
100‘s
Sale
96 '*
'
87
s
t
101V Sai.i
481940
104
Sale
101
91
116
126
103
104
ioi** ioT*
101V102
98V 99
89V 92
Feb’Oft
Jeep ’09
Deo
118V
106V
’07,
96
87
96 V
Oot’09
97*sNoY*0y
96
92V
97V
103 *• Api ’05
192? M-S
96
6S..19331A-O
Apr’08
133
140
Mar’09
96*s
96V
96*4 Sals
96*4
Ill'iiVS** m*‘
i)
Apr’06
92
97
96V 17|
*95V*99**
96*4 98V
Janlo
Tuesday
■
,
Monday
Jan 11
Wednesday
Friday
Jan 14
Thursday
Jan 19
a»k Lots
ibov Sale
*07“ bale
High
99V Noy’09
100V 100V
117
97
100
J# Lonr
High
09V 10 f
100V101V
Apr’08*
97
6
67
94
Sep *091 ..JlOO 101
117 V 117 V 10.116 V 120 V
93 V
93 Jan’10
j 90 94
02
91
92
92
1‘ 86 V 92 V
103
103
7
103V 104V
'103V 104
II
llHVNov’Od
101V Sep *06
....
lift
98 V
86
16
15 V
J’ne’08
4fj
98 V
Mar’09
104V
ib*2*V
101V
97 V 109 V
134
134
101
Apr ’09
98 V Sep *09
117 V Not’09
10ft
Deo *08
107 V Nov’Oft
102
Mai 302
96 V Bale
160 Sale
134
10L
142V
101
98V 98V
117V119V
98VMay*0tt
Jan ’10
Apr’uV
...11104
106V
Nov’UG
...' 100
102
104 V
97
100
102 V
110 V
U 8 Steel Corp 10-60 yr 6s. 1963
West End Street By 4s....1915
Gold 4 Vs
1914
Gold de Denture 4s
.1916
Gold 4s
.....1917
Western Teleph A Tel fts. 1932
Wisconsin Cent 1st gen 4al949
104V
102
102
l*(f»*V Deo’09
20-year eonr 4s
.1927
United Fruit gen a 14 Vs. 1923
U S Coal A OU 1st s f 6s..l938
*•••••
••••••
102
Feb *09
100 V Sep’08
Rutland-Canadian 1st 4s 1949
Savannah Elec 1st oons fts. 1952
Seattle Elee 1st g fts......1930
Terre Haute Eleo g fts.... 1929
86
Apr’08
Apr *08
i02*V Aug’04
104 V Salt
97 V 100
84V
.i'
Deo *09
108 V
102 V
...J'lO^VHOV
J’ne’09
96V
3| 95V 07
96V
62 120 100
105V
ft, 102V108V
100 V Apr’09 ...'T00V100V
lOlV^nerop >wn«0V 102 V
165
160
104V
*•••••
99
sees
Not*0I*
lOOVOct *09
99
96V
96 V Apr’09
* No pnoe Friday; latest bid and asked.
99
100V
99 V 100 V
96100 V
22
96 V
93 V
\ Flat price.
Exchanges—Stook Record, Daily, Weekly, Yearly
share Price*—Not Per Centum Prices
6afurday
Jan 6
Year
iW,9
Bid,
Illinois Steel deben 5s....1910
Non-convert de ben fts. ..1913
la Falls ASioux Gist 7s.. 1917
Kan O Clin A Spr 1st 6S...1926
Kan C Ft S A Gulf ext fts.. 1911
KanC Ft8oott A M 6s....1928
Kan C M A B gen 4s
1934
Assented Income fts
1934'
KanC AM By A Br 1st 6sl929lA-0
MaineCentoona 1st 7s...1918;A-O
Cons 1st 4s
1912; A-O
Mara Hoagh A Ont let 6«.1025; A-O
Mass Gas 4Vs
....11*29 J- J
Mexican Central cons 4s..19111 j.j
1st cons lno3s
Jan j.930|JUy
2d cons mo 3s.......Jan 1939
Mich Teleplst 6s
1917
Minne Gen Elec con g fts 1929
New Eng Oot Yarn fts. ...1929
New Eng Teleph fts
1916
fts.
1916
New England oons a fts... 1945
Boston Term 1st 4s
1939
N YNH A H con deb 3 Vs 1966
deb
Cony
6s (ctfs) ......1943
Old Colony gold 4s ........1924
accrued interest In addition to the purchase prioe for all Boston Bonds.
Philadelphia and Baltimore Stook
Loams
Torrington 1st efts.......1918
Union Pao BB Algrg4s.l947
Jan’03'
Feb’09
Week's
Bang* or
Last Sal*
Oreg By A Nar con g4s..1946
Oreg Sh Line 1st g 6s
1922
Bepub Valley 1st s f 6a...1919
Rutland 1st con gen 4 Vs. 1941
104
94
11 102
104
96
91
....i921jQ-J
pays
*99V iobv
101V 101*4
92*4
92*4
115*3 Jan’10
112 V
Unstamped 1st 6s
1933'A-O
GtNorOR AVIooU tar4s 1921 J-J
Note—Buyer
90 V
101 viots
99 V100
91
1916 M-8
Registered 4s
81
101 *s Deo’09
100
Oot ’09
102
May’09
99
Oot ’09
89 V Not’09
6s..l940,M-N
4s
tfreiut Klk A Mo V 1st
99V 69V
87
87
Bsp A W 1st 4s... 1946
ritohburg 4s
ib*2*' io2**
H10S Oct ’07
99VJ,l7’09
P Dub D 6a.. 1920 j .J
Jh M A St P Wls V div 6sl920 J. J
Jlnt a No Mien 1st gu 5s.l93i'M-N
Jhio A W Mioh gen fts....1921'J-D
Jon cord A Montoons 4s.. 1920 J-D
Conn A Pass K 1st g 4s... 1943
jarrent Hirer 1st 6s
1927
Dominion Coal 1st
iodv ibo v
111V J’ly’05
;n Mil A St
i>et Gr
71 V|
Feb’04
93
94 V
102 V 121V
107 V120 V
32 69
73 v
104 *» Oct ’08
112 *s Jan’03
102 Deo *09
99*i Jan’09
100 J’ne’01
117 J'ne’OS
Butte A Boston 1st 6s....1917
Oedar Bap A Mo It 1 st 78.1916
2d 7s..:.
1909
Cent Vermt 1st g4.-.. AJ*yl920
C B Ad Iowa Bit let6s. 1919
1919
Iowa Dir 1st 4s
1913
Debenture fts
Denver Ex teaks
1922
Nebraska Exten 4s
1927
B A 8 W s t 4s
1921
Illinois Dir 3 Vs
1949
Joint bonus See (it Northern
C lie jc tty A StK Yds 6s .1915
*
Deo *09
92V 94 V
100*4 Mar’09
1910
refunding
93^ No?’09
70
110
...
Coll trust
100=*
120*4 Aug’09
70*a Sale
83
83
180 204
99V 101V
Deo’09
119
Boston Eiect L consol 6s. 1924
..1916
Boston A Lowell 4s
Boston a Maine 4 V*
1944
Boston Term Inal let 3 >38.1947
Bur * Mo Bit cons Os
.1918
Sinking lund as
94
96 *a
High
91V 98V
92 V 107 V
trie*
Friday
Jan 14
Low
Msr’Ot*
Dec’09
83
Adjustment g 4s
J’ly 199ft
Stamped
J’ly 1996
60-year conr 4s
193ft
10-year cony 6s
1917
Atl Gull A \SC IS3 Lines 5s.’59
High.
93
104*4
U)4V
204
100 V
04
Year
1008
or
Loot Sal*
Jan 14
liOKUs
BOSTON STOCK XZCU’Ol
Week Endins Jak 14
Bung*
Rang*
Bid
AtK l,ow
92 V Sale
92V
4a.l929
Am Telep A Tel coll tr
Pries
Fridav
161
Jan 13
ACTIVE STOCKS
Bales
o/_ th* (Far
Bonds and Inactive
Wert
Stocks
Bhatrss
see
below)
Range for Year
Range •or 1 rev ious
:
)ear(iooat
18i)d
Lowest
Highest
Lowest
Highest
Baltimore
*49
*88
• ••••• t*
116
116 V H6V
lift
26V 26*4
47
*13
*26
*47 V
47
14
*.
26
47V
61V 62V
12V 12V
61
62
32V 83 V
88V 84V
*28 V * 2*oV
122 V122 V
108V109 V
26V 26V
46V 46V
14V
26
26
48V 49V
62
63V
12V
12V
62
32 V
63
83
13
28
122
108
33 V
84V
116 IUV U6V116V
26V 26V
26V 26V
46 V 46V *
46 V
14 V*
14 V
26
49
26
49
ftlV 62V
12V 12V
61V 61V
82
83
82V
83
61V
12V
6LV
32 V
62V
12V
83
83 V
26V
49
61V
12V
61V
32
32V
82V 83
18
12
*12V 13
*12V
28V
28
28
122 V122 V
107 V108 V
67 V 67 V
122 122
10ft V109 V
122 V
110V
68V 67«is 68V
62 V 68
61V 03V
14V UV
14V 14V
27 V 28
27V 28V
83 V 83®is S3»i« 84 V
6V
6V
*6V
6V
62 V 62V
62 V 62 V
94V 94V
84V »6V
68
PHILADELPHIA
62
14 V
27 V
62V
14 V
27 V
62V 83V
6V
6V
62V 62V
04V 94V
Bid
Ask
Allegheny Val pref....60
Wayne AW V
62
27V
27 V
14V UV
27V
PHILADELPHIA
119
46 V
61
100
50
...10
60
Minehill A Schuyl H..50
N Haven Iron A Steel.5
Northern Central
60
North Pennsylvania..50
Preferred
Phila Co (Pitts) pref...60
Phil German A Norris. 60
Phila Traction.........60
Railways General.
Bidand asked; no sales
116
46V
45V
160
89
10
8usQuea Iron A Steel..6
Tidewater Steel
10
Preferred
10
Union Trot lnd......ioo
United N J RB A u.. 100
Unit Trao Pitts pref..60
Warwick Iron A Steel. 10
West Jersey A Sea Sh. 50
W estmoreland CoaL.. .50
Wilkes GaS A Elec..iou
*
107 V
Betfile Steel 6s 1998.Q-F
Choc A Me 1st 5s 1949 J-J
Ch Ok A G gen 5s *19 J-J
Col St By 1st oon 6s 1932
Con Trao of N J 1st 6s.’33
E A A 1st M 6s 1920 M-N
Eleo A Peo Tr stk tr otfs
Eq II Gas-L 1st g 5s 1928
*i’fv
nv
BBs 4s g
1914.Q-F
Gen H 4 Vs g. 1924. Q-F
Leh Y G 1st 5s g ’33.. J-J
Leh V ext 4s lst!948. J-D
2d 7s 1910
M-S
Consol 6s 1923
J-D
J-D
Gen cons 4s 2003.M-N
Leh Y Tran oon 4s ’35J-D
New Con Gas 5s 1948 J-D
Newark Pass oon fts 1930
NY PhA No 1st 4s ’39 J-JInoome 4s 1939...M-N
NoOhioTrac oon5s’19.J-J
Penn gen 6s 1910 ...Yar
Consol 6s 1919
Yar
Penn A Md Steel con 6s
Pa A NY Can fts ’39.A-O
Con 4s 1939
A-O
Penn Steel 1st fts ’17 M-N
P Co IstA col tr 68*49 M-S
Con A cot tr fts 1961M-N
Phil Elec gold trust otfs.
Trust certifs 4s
P A E gen M ft g ’20. A-O
Gen M 48 g 1920..AAO
H Ex-rights.
Jan
4
Feb25
Feb 24
Feb
3
........
Bid
92 V
98
Ash
——
116*4
110
||g7.50pai<L
111
104V 105
104V
92
106
66
••••••
92 V
66 V
67 V
L03
Lehigh, Nav 4Vs ’14.Q-J
People’s Tr tr certs 4s ’43
249 V
Marl6
49 V
BergAEBrw 1st 6s’21 J-J
Annuity 6s
Pennsyl RR receipts
steel..100
100
AmBysconYfts 1911. J-D
Atl City 1st fts g ’19.M-N
Interstate 4s 1943 ..F-A
13
—.....
Mar 8
Deo it
May 18
12IV Deo 17*
28 V Deo 7
43 Deo 7i
14 V Deo 3
48
89
30
Jau
Mac tl-v
Jan 102
Feb
15
Feb
26
Jan
12
20
66
60
4
10
lo
Dee
Deo
Deo
Deo
Deo
Not
Philadelphia
all “ and
Indianapolis By 4s. 1933
Keystone WatchCase.100
60
are
interest_**
12*
Pennsylvania
14V
14V
27VI
83
8t®xs 82“ia 83 v
6 V 6lftlS
Vhe P'u
62 V 62 V
62 V 62 VI
94 V 94 V
94 V 94 *s|
Priest
Keystone Telephone ..60
Pennsylvania Salt
62
A1 Val E ext 7s 1910 A-O
Alt ALVEleo 4 Vs’33.F-A
22V
Lit Brothers
Little Schuylkill
67V 07V
tl'TX
90V
Indiana Union Tr....100
Insurance Co of N A.. 10
Inter Sm Pow A Chem.60
Preferred
26V 26V
121
121
106 V107 V
80 V
60
Indianapolis St
12
90V
100
Germantown Pass
46
Con. Gas EL L. A Pow.100! 30
Do pref
...100 76
164 Northern Central ..MM 60100
773 Seaboard (new)
100 11V
825
De
2d pref
...100 22V
United By A Electric.. 60
UV
288 American Cement..
26V 26V
26
Deo 20
48*« 48V 1.016 American Bail ways....
44VJ’lJ 8
61V 6 6,092 Cambria Steel..........
32 V Feb28
12V 12V 1*090 Electrio Co of Amerloa
*10 V Jan 20
61
02V 4*940 Eleo Storage Battery—100 43 Jan 30
80V 82
6.305 Gen Asphalt tr otfs ....100 16 V Jan 5
82
82V 2,796
Do pref tr ctfs ....100 63
Jan ft
*12
100 Keystone Telephone... 60
18
9 V Jan 21
20 V 20\ 6,917 Lake Superior Corp....100 14V Jan 6
120
120 V 1.032 Lehigh O A NartroMs. 60 96 Jan ft
102
107V 63*416 Lehigh Valley.......... 60 67 Feb 23
60 V «7i V* 10.034 Pennsylvania BB
60 63 V Feb 24
61
62
6,240 Philadelp’aCo (Pittab). 60 40 V Feb 24
14
14V 7,466 Philadelphia Electric*.
11V Fob23
26V 27 V 12,062 Phils Rapid Transit...
24 V Jan 5
•80V 82 V 6,666 Beading
60 69 V Feb 23
«V
6V 1.316 Tonopah Mining .—•« 1
6V Jan 16
62
62V 2,186 Union Traction
60 60V Jan 6
93 V 94V 18,299 United Gas leapt
60 84V Mayl3
30
100
Bell Telephone (Pa). 100
Cambria iron
60
Central Coal A Coke. 100
Consol Trac of N J... 100
Easton con Electric 6.60
Kieo Storage Butt....100
Preferred
100
Ft
26 V
Bands
Amal Asbestos Corp. 100
Preferred
100
Ameiican Milling
10
Pipe Mig
26V
*48V
60V
12V
61V
26V 97 V
inactive Stocks
Amor
*46
*13V 14
26
49
13
2ft V
26
26V
*46V 46
26
49
62
83
60
90
109
106V
101V
119
*06V
106
PHILADELPHIA
Ph A Bead 2d fts ’33. A-O
CVn M 7s 1911
J-D
Ex Imp M 4s g ’47.A-O
Terminal 6a gl941.Q-F
P WABooitr 4s’21. J-J
Portland By 1st 6a 1930.
Booh ByA L oon fts ’64J-J
Spanish-Am Ir 6s ’27 J-J
if Trao Ind gen 6s’19. JJ
Un Bys Tr otfs 4s’49J AJ
United Bys Inv 1st oolltr
—Ji04
Fundg 6S.1916M-N
Exchange 3 Vs 1930 J-J
Balt A P 1st 6s m 1 ’ll A-O
BSP AO 1st 4 Vs ’53F-A
Balt Trao 1st fts..*29 M-N
No Balt DiV fts 1942 J-D
Cent’l
Rycohftsl932
Imp fts.1932 M-S
Ext A
43
Deo
42V Mat
49V Deo2l
12VJ’ly 14
26 V Feb
8 V Jan
24 V Feb
46 V
40 V
Not
Deo
63VJ’ly30
3VJan
19V Dec
84VDe031,
19 V Jan
4VJan
125 V Deo 17
78 V Jan
113 sep 21
76 V Sep 29
69 V Deo
0
May
17
Dee
97 V Deo
62 V Feb
I4*i8 Jan
76V Deo
66*18 Deo
34 V Mai
44v Deo
15
Apr 19.
33V May 8
ft V
61V Deo 9
Feb
14 V Deo 22
6V Feb 12 V Nor
36 V Apr 28 dl2 V J’nej 25 V Deo
86V Sep 21 46»i8 Feb rUVe Deo
715*;« Mar 30
SVJaa
UvApr
58V May 4 z44 V J’ne 56 V Apr
95 V Deo 6
73 V Jan 94*4 Deo
Bid
Chas City By 1st 5s’23 J-J
Chas Ry G A El fts ’09 M-S
Chari C A A 2d 7s* 10 A-O
99 V
Col AUrnv 1st 6a. 1010 J-J
102V 102V Consol Gas Os...1010 J-D
92 V
fts
1939 J-D
76V 78V Ga A Ala 1st con fts ’45 J-J
Ga Car A N 1st fts g ’29 J-J
86V 86 V Georgia P 1st Os...’22 J-J
107
86
25
••••••
11V DM
4 / •* Deo
33V Deo 30
City A Sub 1st fts. .’22 J-D
City A Sub(Was)lst5s’48
Coal AI Ry 1st fts’20F-A
BALTIMORE
Inactive Stocks
Ala Cons CoalA Iron. 100
Pref
.loo
Atlanta A Charlotte.. 100
Atlan Coast L (Oonn)lOO
Canton Co
...100
Cons Cot Duck Owrp...60
Preferred
60
Georgia Sou A Fla...100
1st pref
loo
2d pref
100
G-B-S Brewing
100
Bonds
Priest are all “ and
interestAnaoostia A Pot fts
Atl A Oh ext 4 Vs *10.J-J
Atlan C L BB4sl962M-S
Atl Coast L(Ct)ctfs fts J-D
Ctfs of indebt 4S....J.J
6-20 yr 4s 1925
J-J
Balt CPass 1st fts ’ll M-N
32 V Mat
BALTIMORE
\Ask
101V102
sf fts 1926
M-N
U Trao Pit gen fts ’97 J-J
Welsbaoh s f fts 1930. J-D
Wlks-B GAE con5s’65J-J
Balt
96V
104 V 106V
98 V 99
101*4 102
75V 76
Bid
Jan 2
DeoSi
43
48
GaSo A Fla 1st fts 1945J-J
86V G-B-SBrew 3-4s 1951M-S
102 V
2d moome fts 1951 M-N
Knoxv Trac 1st fts ’28A-U
LakeR El 1st guos’42 M-S
85
MaconRyALtistfts’dOJ-J
80
Memphis St 1st fts’45 J-J
190
MetstlWashjlstfts^oFA
342
347 V Mt Ver Cot Duck 1st fts
102 V 110
NptNAU P 1st fts’ao M-N
6
7
Norfolk St 1st fts *44.. J J
20
23
N orth Cent 4 Vs 1925 A-O
Series A fts 1926.... J J
97*
Series B fts 1926....J-J
Pitt Un Trac 6s 1997. J J
•••set
Polo Val 1st fts 1941..J-J
Sav Fia A West 6s’34 A-O
Seaboard A L 4s I960 A-O
Sean A Roan 6s 1926. J J
103
South
103V
Bound 1st 5s..A-0
U El LAP 1st 4 Vs’29 M-N
*96 V
Uu Ry A El 1st 4s '49 M-S
105
Income 4s 1949
J-D
97
Funding fts lu36...J-D
92V 93
Va Mid 2d ser 6s ’ll.M-s
3d series 6s 1916..M-S
loov 10OV
4th ser 3-4-5s 1921.M-S
86 *« *98*
6th series fts 1926.M-S
103
Va (State) 3s new ’32.J-J
Fund debt 2-3s 1991. J -J
94V
108
WestN 0 con 6s 1914 J-J
Wes Va CA F 1« 6g*ll
•••S'*
WU A Wetd5a.^iy35.J^
•••••*
Ask
|
1 LOft
93
91
—*•#
1j5
107
ioi
ioi V
107
107V
100V 100V
110
110V
ioft
luftv
113*4
•
109
42
42 V
.
95
mm**.
06
loo
too V
108S, ••«*sb
75V 75 V
iiT*
warn•••
•••mam
•
*'••••
*•
106
civ
•••*••
84V
’
1*2*
02
66*4
60 V
64
V
87
60V
«4V
;
,i
.‘i’oTv
92
V
92
V
••••••
•
lb'iv
••*•*•
.!
" V
,
V
i
.
*
:
r.
ft
:
t $12 V paid. * *18 V paid. J $33 paid. aReoeipts. ft 325
paid. c$J0 paid. d$ 12 V ©aid.
V *>' i
m
THE CHRONICLE
Volame ot Business
{VOL.
LXXXX.
Electric Companies
Bid Ask
Industrial and Miscel.
Bid
Ask
Chic Edison Co—See Chi
list
cago
Consol Rubber Tire..100
2
3
e Kings Co Et LAP
Co 100 128
1*2
Preferred ....
100
TRANSACTIONS AT THE NSW YORK STOCK EXCHANGE
Narragan (Prov) El Co. 50 ♦ 92
94
Debenture 4i 1951 .A-0
M
NY AQ Ei L A Pow Go 100
DAILY, WEEKLY AND YEARLY.
6J
70
Con Steamship Lines—■
Preferred
.—.100
75
80
CoU tr 4s 1957 rets. J-J / 21
23
United Elec of N J—.100
75
Corn Prod Ref—See Stock Exo Jht
Stocks.
1st g 4S 1949——J-D
Railroad,
79*4 8012
Crucible Steel....—100
Week ending
17% 17%
V. 8.
State
Ac.,
• Preferred ...
Ja.i 14 1910.
.100
92% 93
Shares.
Bat eoise.
Bond*.
Bond*.
Bond*.
Telegraph and Telephone
Cumberland-Ely Copper 5
• Amer
Teleg A Cable. 100
70
77
« Diamond Match
Co.lOOU 1-4%
Saturday
e Central A So Amer
344,058 $32,381,800
S1.S19.000
$113,500
100 118
120
duPont(EI)deNemPo 100 137 140 "
Monday
558.885
CommT Un Tel (N Y). 25 108 116
50.028.200
2.839.000
65.000
• Preferred
100 r85*4 86*4.
Tuesday......
793,915
72.474,000
136,000
Emp A Bay State Tel.100
3.038.000
65
• Gold 4 ha 1«36_._J-D
87% 88
Wednesday .
830.75J
75.550.600
FrankUn
89,000
3,147,500
45
100
Eoon’y Lt A P (Joliet, IU)
Thursday—...
• Gold A Stock
1,107.255 100.162.500
3,235,000
145,000
Teleg.
100 105
1st
M
s
f
g
95
5s 1956.J-D
98
Ffldiy
NY A NJ Teleph—See Stk Exc Ust
1,289,768 117.007,300
3,933,000
163,000
Electric Boat
100
25
30
e Northwestern
Teleg. 50 105
Preferred
68
Total
100
4.925.530 $447,604,300 $17,811,500
Pacific A Atlantic.... 25
$711,500
65
Empire Steel
.100
7
10
authera A Atlantic.. 25
90
Preferred
83
100
86
Sales at
Week ending Jan. 14.
Jan. 1 to Jan. 14.
General Chemical
93
100
95
New 1 ark Stock
• Preferred
Ferry Companies
100 102% 105
A N Y 1st 6s 1911. J-J
Exchange.
1910.
94
1909.
96
l'»I0.
1909.
Goldfield Consol Mines. 10
*7%
Y A E R Ferry stk.100
30
37
Gold H1U Copper (w 1).
♦ 1%
1
1%
1st 58 1922
Stocks—No. snares
60
M-N
4.925,536
65
4,089,747
10,126,299
10.139.429
Greene-Cananea
20
11
*10%
Par value
YAHob 5s May ’46.J-D
....
IOJ
97
$447,604,300 $378,995,900
$933,143,850
$930,092,225
Guggenheim Explor’n 100 235 245
H°b Fy 1st 5s 1946 M-N 105 107
Bank snares, par.....
$9,400
a Hackensack
$30,100
$2,500
Water Co
Y A If J 6s 1946
Bonds.
97
100
Ref g 4s *52 op *12—J-J
87% 90
6th A 28(1 Sts Ferry.;
Government bonds...
4.
$25,000
$25,000
Hall Signal Co com
$25,000
100
48
55
1st mtge 5s 1919..J-D
State bonds
$71l" 500
67
72
943.000
1.674.000
1,554.500
Havana Tobacco Co..100
6
8
Union Ferry stock..100
RR. and mlsc. bonds..
33
17.811,600
27,359.000
39,006,000
36%
62,664,500
Preferred
10
100
20
e 1st 5s 1920
94
96
M-N
1st g 5s June 1 *22.J-D
60
65
Total bonds
$18,523,000 $28,327,000
$40,705,000
$64,244,000
Hecker-Jones-Jewell MW
•rt-Term Notes
1st 6s 1922
M-S
105
109
DAILY TRANSACTIONS AT THE BOSTON AND PHILADELPHIA
ser A 4s T1..M S
98% 985a H«r*g-Hail-Mar, new. 100
30
40
4a Mch 15 T2 M-S
EXCHANGES.
97
97*1 Hoboken Land A Imp 100
Atlan Coast L 5s TO.M-S 100
100%
• 5s 1910
M-N
99% 100
Bethleh Steel 6s T4..M-N
9912 1U0
Houston Oil
100
Boston.
7%
8%
Cln Ham A D 4s 1913.J-J
Philadelphia.
96*4
97%
Preferred
IF«t ending
39
100
41
C C C A St L 5s. June ’ll
101
10Ol2
Hudson
fan. 14 1910.
100
Unlisted
Realty
100
110'
Listed
Bond
Listed
Unlisted
Bond
Erie 6s. Apr S 1911..A-O
e IngersoU-Rand com.100
90
shares
shares.
sales.
shares.
shares.
sales.
•b R T g 6s 1911.M-N
• Preferred
10314 1J4I4
95
100
98
97
Intemat’l
Saturday ......... 16.081
Bank’g Co. 100 130 140
17,362
$39,100
40.241
7.302
$36,000
99*4 100% Internat’l Mer Mar—See S tk Ex Ust
Monday............ 26.608
47,631
109.600
48.695
12,358
245,885
100*8
097,
International
Tuesday
Nickel.. 100 150
155
27.699
52.701
38.000
22.086
11,473
77.400
99% 100%
Preferred
100
91
Wednesday......... 38.220
93
74,931
101.600
12,170
29.983
117.500
nn A St L g 5s Tl.F-A
99U
99*4
1st g 5s 1932
Thursday .......... 54.775
93
A-O
94
89^16
85,000
23,406
Y Cent 5s 1910
11,219
49.500
F-A
997,
100%
International Sait
Friday............. 61,966
5
100
8
64.795
90,500
30,870
14.747
43.500
Y C Lines Eqp 5s
1st g 5s 1951
TO-27 64.40 4.15
A-0 /1 40
46
t N H A H 5s T0-T2
100
101*4
Total ........... 225.249
International
20
Silver..100
30
336,936
$463,700
195,281
rf A West 5s 1910.M-N
69.269
$569,785
100% 100%
Preferred
98
100
103
RR 5s Mch 15 TO.M-S 100
100%
1st 6s 1948
J-D no
St L A San Fr g 5s ’ll. J-J
99
99% Interaat Smelt A Refg 100 130 155
4H%K notes’12op. F-A
96
97
Internal Time Record. 100
70
75
South Ry g 5s 1910..F-A
997b 100%
Preferred
All bond prices are now "and interest”
loO 100
103
Tidewater 6s. 1913 guar 101*8 lul% Jones A
except where marked *1/
Laughlin
Steel Co
Westingh’e El AM 6s 1910 100*8 101
1st s f g 6s 1939..M-N 101
101%
Street Railways
Lackawanna Steel
Oi.
Bid
100
Ask
65
Street Railways
Bid
Ask
Railroad
New York Cily
Lanst
Pub Serv Corp N J (Con)
93
Monot’pc (iew)100
95%
• Chic Gt Wcom tr ctfsISee Stock Exc
Bleeck St & Fui F stk.100
Lawyers’
15
30
Mtge Co
100 265
275
Rapid Tran St Ry 100 240 250
• Preferred tr
list
e 1st mtge 4s 1950.J-J
• Len A W’llkes-B
ctfs—]
60
1st
50
Coal
5s 1921
70
A-O 106
Chic Peo A St I/—« LorUlard
* B’y & 7tii Avc stk_.100
(P) pref
130
140
J C Hob A Paterson—
100 130
Prior Uen g4 )is’30_ M-S
91
89
e 2d mtge 5s 1914..J-J
Madison Sq Garden
4s
100
42% 60
9912 101
g 1949
M-N
781- 7912
Con mtg g 5s 1930..J-J
60
63
Con 5s 1043—See Stock EXC list
2d
6s 1919..
So J Gas El A Trac.100 146 ' 144
85
M-N
100
Income 5s, July 1930— /
5
B’way Surf 1st 5s gu 1924 102 106
Gu g 5s 1953...M-S 100
Manhattan Transit... 20
*2
2%
100%
Chicago
5
* Cent’l Crosst’n stk
100
Subway.
4*4
100
Monongahela
R
No Hud Co Ry 6s’14 J-J 102
Coal— 50
♦934
Ft W A Den Cy std-.lOO
971 2U02
'* 1st mtge 6s 1922.M-N i 80
Preferred
50
95
5s 1928
*2„*8 25%
J-J 103 105
Kansas City Sou 5s Apr 1
* Cen Pk N & E R stk.100
30
Mortgage Bond Co
100 no
50
115
Ext 5s 1924
M-N
99
101
1950 (w 1)—See Stock EXO list
* Chr’t’r A 10th St stk 100
Nat Bank of Cuba
99
80
Pat City con 6s *31. J-D 118
100
90
103
120
Nat Rys of Mexico—See S t Exc Ust
Col & 9th Ave 5s See Stock Exc list v
Nat’i
Surety
1Q0 215
2d 6s opt 1914—A-0 100
North’n Securities Stubs. led
lu6
Dry D E B & B—
So Side El (Chic)—See Ch ioago list
5 *26*4 25%
Pitts Bess A L E
60 *30
36
e 1st gold 5s 1932..J-D
Nev-Utah Hln A Sm_ 10
97io 100
Syracuse R T 5s '46..M-S 103 105
1%
Preferred
50 *70
76
e New Central
t Scrip 5s 1914
F-A / 45
30
50
Trent P A H 5s 1943. j-D 100
CoaL—
20
60
102
\e Railroad-Securities Co—
NY Air Brake 6s—See Stk EXc Ust
Eighth Avenue stock. 100 250 300
United Rys of St L—
1U C stk tr ctfs ser A' 52
e Scrip ds
90
N Y Biscuit 6s 1911.M-S/100
1»14___F-A
95
100
Com vot tr ctfe—100
/100
Seaboard Company—
20i2 21
* 42d A Gr St F'y stk.100
New York Dock....100
200
220
e Preferred
37
40
100
60i«>
70
1st
preferred
42d St M & St N Ave.100
100
•
Preferred
Gen 4s 1934—See Stock Exc- Ust
82
J00
83%
Com A 2d prel—See Bal t Exc list
• 1st mtge 6s 1910.M-S
225
235
99% 10014 UnitRys San Fran .Stee Stk Exc list
Seaboard Air Line— 2d income.6s 1915.J-J
*6
50
Wash Ry A El Oo
7
Transportation
20
100
42
43
CoU 5s ext May Tl.M-S
Inter-Met—See Stk Exch ange list
99*
NUes-Bem-Pond com.100
99
Preferred
103
.......100 ; 891* 90% West Pac 1st 5s
Lex Av & PavF 5s See Stk Exc Ust
’33—M-S
97% 97*4 Nlplssing Mines..
5 *
•
4s 1951
97g 10%
J-D
86
86%
• Ontario Silver
Metropol St Ry—See Stk Exc list
.100
3
industrial
and Miscd.
Ninth Avenue stock. .100 160 170
Otis
Elevator
com.
100
67
Gas Securities
—dams Exp g 4s 1947 J-_ 1 82% 93%
6econd Avenue stock. 100
Preferred
14
98
18
100
Ahmeek Mining
• 1st M 5s'09 ext TO M-N
...25 *215 225
Pittsburgh Brewing.. 50 *23%
96
100
New York
Alliance Rea ty
Consol 5s 1948
100 116 120
F-A / 65
Preferred
70
Cent Un Gas 5s 1927 .J-J
50 ♦421a
Allls-Cbalmers
Co 1st mtg
Sixth Avenue stock. ..100. 108 118
100%
101%
ttsburgh Coal—See Stk EXO list
Con Gas (N Y)—See Stk Exo Ust
s i fts 1936—See Stock EXC list
Soy Boulev 5s 1945
J-J
)pe MfgCo com
100
78
85
e Mutual Gas
60
83
100 148
160
American Book.
So Fer 1st 5s 1919...A-O1
..100 155
Preferred
92
88
New Amsterdam Gas—
100
85
90
American Brass..,
Third Avenue—See Stock Exc list
121
100 118
Pratt A Whitney pref. 100 100
1st consol 5s 1948..J-J 100
105
101
Amerlean Chicle com. 100 227 232
Tarry W P A M 5s 1928J/ 59
Producers Oil
80
NY A ERGas 1st 5s ’44 J-J 103
.100 150 160
106
Preferred—.——100 104 107
YkersStRR5s 1946 A-O
Realty Assoc (Bklyn) .100 m
86
95
Consol 5s 1945
135
J-J
97
Am Graphophone com 100
100
10
28th & 29th StS &S *96 A-0 j
Royaf Bak Powd oom.100 165 17a
20
N Y A Richmond Gaa.100
32
42
Preferred
* Twenty-third St stk. loo 200 ‘
32
36
-,—100
Preferred.
250
N Y A W estchesterL’ht’g—
.100 108
Amer Hardware
146
Union Ry 1st 5s 1943.F-A
100 140
Safety Car Heat A Lt.100 130
IOOI4 101%
Deb g 5s 1954 guar_J-J 101 103% Am Malting 6s
Westchest 1st 5s ’43 J-J
1914—J-D 103 105
Seneca Mining
69
75
Nor Un 1st 5s
25 *
1927—M-N„ 97 100 Amer Press Assoc’o—loe 96 100 Singer. Mfg Co
Brooklyn
e Standard Gas com
100 660
600
100
•56
tk Ex list
Atlan Avenue RR—
South Iron A S com
22
• Preferred
100
24
100 n65>
80
104
106
Con 5s g 1931
A-0
Preferred
98
101
1st 5s 1930
100
50
65
—M-N 102 106
Deb
BBAWE5S 1933.-A-0
4s
1923
77
.F-A
76%
Standard
97
100
1«
Cordage
100
%
American Surety
235
225
Brooklyn City Stock__10 195 198
56
225
1st
M
g
5s
’31
red.
Other Cities
A-O / 20
25
Con 5s—See Stk Exoh
American Thread prof 5
6%
*4*
*4%
Adjust m 5s Apr 1 1931
Am Gas A Elec com.. 50
ange Ust
4
Bkin Hgts 1st 5s 1941 A-0
♦44% 46% Am Tobacoe Co com 100 426 42o
andard Coupler com 100
102
97
Preferred
80
50 *44
45
Bkln Queens Co A Sub—•
Amer Typcfders com. 100
52
47
Preferred
Amer Light A Tract. .100 299
100 100
301
• 1st g 5s ’41 op T6.J-J
102
Preferred
99
...100
Standard
G8
19
Milling Co..100
21
100%
Preferred
—.100 108 no
Con guar 5s—See Stock EXC list
100
Deb t 6a 1939
99
M-N
Preferred
67
too
60
Bay State Gas
50
Hie “m Amer Weiring Paper..100
Bklyn Rap Tran—See Stk Exc list
3%
1st
5s
2%
1980
83
M-N
86
Bingh’ton (N Y) Gas Wks
24
Preferred
26
Coney Isl A Bklyn..100
100
Standard Oil of N J..100 658 663
65
75
1st g 5s 1938
—A-Q
1st cons g 4s 1948..J-J
100
87
lstnfg 5s T9 op *09 J-J
88% Swift A Co—See Host Stk EXC Ust
78
82
Brooklyn
Un
Gas—.SteeStk Exc Ust
Con g 4s 1955
AtlGf
A
WlndSSLines.
100
J-J
11%
10%
1st 5s—.See Chlo St ck |Exc Ust
75
85
Buffalo City Gas stk
100
4
Brk C & N Cs 1939.J-J
6
Preferred
27
100
28% Texas Company
95
100
1st 5s ion—see Stock
223
100 217
Exc list
Col tr g 58 1969
72
Grtp’tALorSt 1st 6s_.M-N
..J-J / 70
« Texas A Pacific Coal 100
Con Gas of N J 5s *36.J-J
95
105
92
95
45
Kings C El 4s—See Stock Exc Ust Consumers’ L H A
Barney
A Smith Oar..100 n40
Title
Ins
Co
of
N
155
Y...100
Pow—
Nassau Elec pref
120
Preferred
luo
100 105
To no pah Min (Nevada)
5s 1938
67
1
*8%
J-D 110
5s 1944
Betbl’m Steel Corp—See S tk
A-O iu3
tk Ex
Ex list
Trenton Potteries com 100
105
4
Denver Gas A Elec.—100 153
8
1st 4s 1951—See Stock Exc
158
BUss
140
f
com..
Company
50
list
Gen g 5s 1949 op.M-N
Preferred, new. ..100
65
65
94
N W'bg & Fiat 1st ex 4 Hs
Preferred
96%
50 135
go
Trow Directory......100
95
Elizabeth Gas Lt Co. .100 300
27
30
Bond A Mtge Guar...100 272%
Steinway 1st 6s 1922..J-J iu2 107 Essex A Hudson
Union
6J
Typewriter
100
com
62
Gas. 100 15Other Cities
152' Borden’s Co ad MUk—100 no. 122
1st preferred ——..100 no
Gas A El Bergen Co. .100
115
81
Buffalo Street Ry—
86
Preferred
...100 105% 100*4
2d preferred
e Gr
112
100
115
1st
Rap
5s
T5.F-A ICO 101
1st consol 5s 1931..F-A 105
British Col Copper...
8
*7*4
5
United Bk Note Corp. 50 *50
106
Gr’t West Pow 5s
62
'46.J-J
93
Deb 6s 1917......A-O 106
96
Butte Coalition Mining 15 *25% 26
107b Hudson Co Gas...
Preferred
.....
50 *52% 51
.100
149
Columbus (O) St Ry_.100
151
2
Casein
3
Co
of
Am
com.100
os
United
Indiana Lighting Co.. 100
Cigar Mfrs
100
89
90
31
Preferred
33
100 i04i2
Preferred .....—..100
61
70
• Preferred
4s 1958 op.
100 103
111
F-A
67
Colum Ry con 5s—See Phi la list
69
140
125
Casualty
Co
of
Amer..
100
United
Copper
100
Indianapolis Gas
8*
1%
50
Crosst’wn 1st 5s ’33 J-D
19% 30
Celluloid Co
131
100 130
106
1st g 5s
Preferred...
21
....100
20
1952.....A-0 80
a Conn Ry A Ltg com. 100
90
Cent Fireworks com.. 100
7
«5
U S Casualty
7gi2 78
Jackson Gas 5s g ’37. A-0
215
—.100
a Preferred
/ 88
100
Preferred
60
92%
82
...—100 fi53
85
e Laclede Gas
U S Envelope com...100
50
.100 !68%
1st A ref 4 ha—See Stk Exc Ust
1
Central Foundry...—109
1%
• Preferred
Preferred— 10 0 114 llo
10O
90
Grand Rapids Ry.
100
14
l o ° 120
10
Preferred
..100
U S Finishing ...
Madison Gas 6s 1926. A-O 103
140
100
16)
Preferred
108
100
72
Deb, 6a 1919 op ’01.M-N
68
gj
Preferred
Newark Gas 6s
100 no
115
e Louisv St 5s 1930
132
J-J 106L 106% Newark Consol 1944..Q-J 130
Chesehrougb Mfg Co.. 100 600
U S Steel Corporation-—
Gas..100
100
101
65
Lynn A Bos 1st 5s ’24 J-D 105 107
62
Col
tr s t 5s '51 opt ’ll
eCon g 5s 1948
114%
J-D 106
* New Orl
107
*
102
99
Rys A Lgt.lOfi 28*2 29b> No Hudson L H A Pow—
Col tr s f 5s ’51 not
opt 114%
• Preferred
• ClaUljj (HJD coin—100
100
no
US-.
63 % 65
U S.Tii Gu A Indem__100
5s 1938
60
A-0 110
Gen M g 4,4s ’35—See S tk Ex Ust Pacific
c 1st preferred.....100
08
92
eUtah Ce^per Co—6'tcStk Kxc list
Gas A E, com. 100
55
Pub Serv Corp of N J.100
50
« 2d preferred
94
100
124% 125'j
WaterL>u,
Preferred
y
Co
com
100
...100
90
Tr oils 2% to 6%perpet )05%
91
Col A Hock CoalAI pf 100
95
8J
Preferred
106% Pat A Pas Gas A Elec.100
'100
95
98
North Jersey St Ry. 100
01
151
60
ls£ •* 5i 1917
..J-J
• Con g 5sr
Westchester A Bronx Tit
1949—_M-S
101
1st 4s 1948
Col tr 6s Oct 1956—J-J
M-N
102%
100
104
79
81
A JQtge Guar!
St Joseph Gas 5s
106 165
1937.J-J
170
Cons 'tract of N J—100
93% 96
Consol Car Heating...100
32
27
76% 7/% Western Power com. 100
WestiiMfh'se Air Brake. 50 H45 146
38
1st 5s 1933
J-D 10^ 1044
39% Cons Ry Lgfc A llefrig.100
West JSl A Aifg 5s—-AYeStk EXC Ust
Preferred .........100
59
61
Kew’k RasRy 5a ’*0 J-J 103 109
Aorthiug Pump pref.100 MOO
:106
110
^ **«’
.*hare a Ex-rifhtS. 6.Basis, « Sells on Stk.
Ex., but not very arrive. /.Fiat price/ n .Voni. s Sale
price. it fix-dlv.
y Ex-rights.L
"• New stocl
at Stock
Exchanges
1C
.....
....
8
-
.
*
-
-
...
■*
....
...........
-
_
Outside Securities
——
•
-
—
.....
_
_
—....
!
.
.
.
^
ill
..
&
...
r
....
....
.
m
...
—
_ _ _
•
City^ Iav^fiagGo
-
••
100
....
*
Jam* 15
THE CHRONICLE
3,910-J
163
Investment and Railroad Inteliiqence.
*********
RAILROAD
The following
GROSS
**********
EARNINGS.
table shows the
gross earnings of every STEAM railroad from which regular weekly or monthly return**
The first two columns of figures give the gross earnings for the latest week or month, and the last two
Columns the earnings for the period from July 1 to and including such latest week or month.
We add a supplementary
statement to show the fiscal year totals of those roads whose fiscal year does not begin with July, but covers some other
period The returns of the electric railways are brought together separately on a subsequent page.
can
be obtained.
Latest Gross
ROADS.
Week
Month.
Ala N O & Tex Pac
N O & N East—r
Ala & Viclcsb..
Vicks Shr & Pac.r
Ala Term & North..
fc Atch Top & S Fe
Atlanta Birm & Atl
Atlantic Coast Line
Earnings.
Current
Year.
or
Previous
July 1 to Latest Date.
Year.
Current
Year.
Previous
Year.
305,169
1,714,617
1,530,815
Latest Gross Earnings.
N Y C A Hud RIv.
Lake Shore AMS
n Lake E A West
Chic Ind A South
e
December
December
December
November.
292,773
130,751
139,948
160,544
873,518
813,678
145,673
753,594
725,109
6,464
31,337
25,797
November. 9,628,529 8,403,247 44.507,765 39,114,925
4th wk Dec
72,270
65,802 1,292,302 1,010,555
November. 2,746,292 2,247,222 11,080,800 9,690,508
November.
7,351,675 6,306,422 37,233,833 32,941.375
^Baltimore A Ohio.
244,683
227,404 1,195,234 1,180,512
Bangor & Aroostook November.
November
Bellefonte Central.
7,083
6,161
28,145
31,441
Boston A Maine
r November. 3,746,625 3,238,29F 19,319,827 17,283,373
Bridgeton A Saco R November.
3.424
3,077
22,604
23,455
Buff Roch A Pitts.r 1st wk Jan
129,188
122,991 4,849,255 3,888,817
Buffalo A Suso___r November.
201,186
191,278 1,085,592
964,455
Canadian Northern. lst wk Jan
174.900
145,300 6,964,300 5,780,400
1st wk Jan 1,315,000 1,098,000 51,137,753 41,731,783
Canadian Pacific
Central of Georgia. 1st wk Jan
204,500
185,000 6,487,819 6,163.832
Central of New Jer. November. 2,450,186 2,238,919 11,632,545 10,944,032
Central Vermont. _r November.
328,147
283,959 1,693,612 1,556,781
Chattanooga South. 2d wk Dec
1,551
1,541
35,707
40,847
1st
wk
Jan
526,504
476,215 16,126,790 13,879,136
Chesapeake & Ohio.
279,489
294.038 6,796,219 6,416,559
Chicago A Alton Ry 3d wk Dec
Chic Burl* Quincy.r November. 7,952,241 6,632,676 38,849,136 34,860,273
915,490 5,043,451
©Chicago Gt West. N; vember. 1,064.993
Chic Ind A Loulsv. 1st wk Jan
77,590 3,128,132 2,829,648
79*706
Chic Ind & Southern —See New York On tral.
Chic Mil A St Paul.r November. 5,956,752 5,129,361 29,567,441 27,573,907
Ch Mil APugSd.r November. 1,044,788
Chic A Nor West-.r November. 6,586,682 5,654,874 33,824,726 30,098,782
Chic St P M A 0._r November. 1,427,237 1,202,969 6,688,690 5,987,388
Chip Term Trans. _r October
116.950
104,359
402,860
383,024
Cin Ham A Day
r November.
81*8,533
704,549 4,234,783 3,590,037
Clev Cln Chic A St L —See New York Cen tral.
Colorado Midland, r November.
255,253
225,753 1,122,720 1,034,464
A Colorado A South lst wk Jan
270,601
272,024 8.919,026 8.360,678
Colum Newb A Lau October,__
27,172
23,617
91,786
91,657
October
64,101
72,967
294,696
Copper Range
274,098
Cornwall
November.
17,991
7,335
29,255
74,635
Cornwall A Leban.r Oct ober
39,575
102,203
30,873
153,312
Cuba Railroad
November.
166,448
117,210
673,261
807,683
I Delaware A Hud.r November. 1,838,466 I,634,274
8,542,503 8,045,677
Del Lack & West-.r November. 3,232,599 3,058,999 15,489,777 14.442,806
1st
Denv & Rio Grande
wk Jan
318.900
340.400 12,634,046 11,255,567
Denver N W A Pac 4th wk Dec
15,353
8,940
551,726
417,315
Det Tol & Iront Sys 4th wk Dec
40,327
38.678
835,187
874,580
4th wk Dec
Ann Arbor
58,200
51,115
929,095
941,794
Detroit A Mackinac 1st wk Jan
16,886
19,588
617,522
575,812
Dul A Iron Range.r November.
852,569
596,492 6,336,973 4,596,167
4th
wk
Dec
Dul Sou Shore A Atl
79,112
69,013 1,718,458 1,394,301
El Paso A Sou W
r November.
633,682
626,123 2,962,257 2,784,206
Erie
November. 4,976,993 4,283,941 23,871,534 22,075,210
Fairchild A Nor E. November.
2,212
1,768
9,714
8,495
Fonda Johns A Glov November.
341.057
66,191
54,953
387,857
285,735
245,060 1,298,539 1,232,760
Georgia Railroad. November.
See Sout hern Rail way.
Georgia South A Fla
Grand Trunk Syst. 1st wk Jan
654,885
536,240 23,521,952 21,491,853
Gr Trunk West.. 3d wk Dec
107,992 2,901,995 2,712,549
109,413
Det Gr Hav A Ml! 3d wk Dec
45,385
39,312
986,154
868.411
Canada Atlantic. 3d wk Dec
37,428
24,556 1.053,617
956,618
Great Northern Syst December.. 3.704,799 4,125,555 34,783,420 30,795,467
Gulf A Ship Island- November.
168,013
201,028
758,690
899,631
November.
690,909
560,601 3.353,991 3,016.052
Hocking Valley
Illinois Central.... December
5,238.646 5,211,186 30,988,423 29,242,829
Internat A Gt Nor. 1st wk Jan
131.000
124,000 4,611.295 4,474,683
a Interoceenlc Mex. 1st wk Jan
137,014
135,525 3,486,909 3.275,036
1st wk Jan
Iowa Central
50.445
47,435 1,776,149 1,582,529
Kanawha A Mich.. November.
248.030
197,172 1,185,156 1,044,017
Kansas City South. November.
848,127
766.792 8,866,797 3.748,086
KC Mex A Orient.. 4th wk Dec
51,500
35,000
588.588
886,179
November. 3,302,219 2,901,677 15,214,924 14.416,341
Lehigh Valley.
Lexington A East— November.
36,157
23,536
187,549
164,818
Inc 138, 485
November.
Inc 687, 993
Long island
AArkan.
Louisiana
November.
467,565
108,997
85,052
536,818
Lou Hend A St L
r November.
100,072
496,916
78,398
430,500
s Loulsv A Nashv— 1st wk Jan
831.455 26,829,134 24,281,081
935,710
Macon A Blrm’ham December
74,126
13,148
77,438
12.678
Maine Central ....r November.
755,177
654,307 4,007,329 3,722,982
22,855
3,907
Manlstlque
November.
3,148
16,721
33,662
29,622
170,265
Maryland A Penna. November.
182,675
a Mexican Internat. 1st wk Jan
128,753
122,325 4,297,167 3,501,867
a Mexican Railway, 3d wk Dec
157,506
136,800 3,662,100 3,250,600
a Mexican Southern 3d wk Dec
29,506
604.739
583,968
25,252
Michigan Central— See New Y ork Centr II.
4th wk Dec
Mineral Range
25,845
20,759
441,979
430,911
Min neap A St Louis 1st wk Jan
69,955
67,043 2,731,012 2,345,032
Mfnn St P A S S Ml 1st wk Jan 325,217 275,875 12,962,082 11,175,002
7,246
Michigan Central.
Cleve C C A St L
Peoria A Eastern
Cincinnati North.
Pitts A Lake Erie
Rutland
N Y Chic A St L.
Total all lines....
N Y Ont A Western
N Y N H A Hartf.r
N Y Susq A West.
Norfolk A South
r
Norfolk A Western.
Northern Central
Northern Pacific. _r
Pacific Coast Co
_
Various Fiscal Years.
Bellefonte Central
Jan
1
to
Jan 1
Jan 1
Jan 1
Jan 1
Jan 1
Jan 1
fan 1
Jan 1
Jan 1
Jan 1
to
Manlstlque
Mexican Railway
Mexican Southern
N Y Central A Hudson River.
Lake Shore A Michigan South
n Lake Erie A Western
a
a
e
Chicago Indiana A Southern.
Michigan Central
Cleve Cin Chicago A St Louis
Peoria A Eastern
Cincinnati Northern
Pittsburgh A Lake Erie
Chicago Division]
Mississippi Central. November.
Rutland
New York Chicago A St Louis
Total
lines
Northern Central
d Penn—East of Pittsb A Erie
d West of Pittsburgh A Erie..
Phila Baltimore A Washington.
Pitts an Chicago A St Louis
Rio Grande Junction
Texas A Pacific
I
West Jersey A Seashore
78,819
57,445
273.589
356,852
Missouri Kan A Tex December.. 2,298,254 2,208,876 14,156,840 13.792.369
Mo Pac & Iron M't\
Central Branch.] 1st wk Jan
769,000
703,000 27,855,354 24,762,810
0 Mobile Jack A K C Wk Dec 25
33,825
38.062
800,941
768,717
Nashv Chatt & St L November.
989.554
930,238 4,780,180 4,633,757
a Nat Rys of Mexico 1st wk Jan
853,620
916,620 24,898,850 23,721,655
9,197
Nevada-Cal-Oregon. 4th wk Dec
203,651
8,108
266,089
Nevada Central.... October
8,113
6,866
25,315
28,035
N O Great North
November.
117,382
218,322
45,778
547,539
<■
(45 roads)....
(44 roads)
4(h week Nov (42 roads)
1st week Dec
2d week Deo
3d week Deo
4th week Deo
1st week Jan
a
(43 roads)
(41 roads)
(4Q roads)....
(42 roads)
(32 roads)
M5**«p_currencf.
%
Monthly Summaries.
$
19,677,24''
17,798,946
11,193,399
11,691,325
11,852,248
13,971*227
12,059,588 11,032.034
11,688,160 11*142,346
12,089.781 11,258,272
17,622,267 15,948,781
9.392,6391
8,666,810
,
+1,878,296 10.55
+1,781,832 15.92
Month
Month
Month
Month
Month
Month
Month
Month
Month
+ 1.758,833 15.05
+ 1.151,164 9.71
+2,929,647 20.97
+ 1,027,554 9.31
+545,814
+ 831,509
+ 1,573,500
+ 725,820
1
12,323,597
4,978,114
32,004.574
2,877,809
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Deo
Jan
Jan
Nov
Nov
Nov
Deo
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
1
1
1
1
1
1
1
1
1
1
1
1
1
1
Deo
Nov
Nov
Nov
Nov
Nov
Nov
Nov
Nov
Nov
Nov
Nov
Nov
Nov
Nov
Nov
Nov
Nov
Oct
Jan
Nov
Current
Year.
30
557,397
30 17,767,178
30
37,985
21
7,336,500
21
1,305,185
30 35,159,408
30 11,131,528
30 4.548,781
30
2,897,379
30 25,070,416
30 25,219,125
30 2,743,444
30
1,081,794
30 13,459,155
30
2,861,732
80 9,117,873
30 213290635
Previous
Year.
$59*983
16,894,360
50,700
7,192,500
1,223,015
76,655,979
35.535,634
3,977,415
2,410.991
22,122,789
22,039,345
2,480,095
892,990
9,457,565
2,543,104
8,348,102
186464009
30 11,230,508 10,409,408
30 139689 873 124035 073
30
Inc 12, 680,800
30 1G,140,846 14,790,246
30 27,636,973 23,947,433
31
878,212
710,639
7
241,297
247,447
30
5.4a .'34
5,011,884.
EARNINGS—Weekly and Monthly
Cur’nl Year Prev's Year Inc. or Dec.
12,975,231
13,456,158
13.003,412
16.900,874
Period.
I Delaware A Hudson
^
(49 roads)
(43 roads)
November.* 8,520,957 7,434,521 42,584,638 38,345,385
November. 4,092,946 3,362,837 20,886,419 17,709,044
November.
471,548
370,275 2,381,438 2,021,298
November.
245,518 1,470,695 1.125,585
326,253
November. 2,526,762 2,118,326 12,480,048 10,791,881
November. 2,584,504 2,148,948 12,711,101 11,188,620
Nove ber.
241,645 1,407,062 1,216,041
280,743
November.
106,336
88,875
497,074
557,162
November. 1,622,722
965.533 7,676,512 5,369,850
November.
287,916
241,699, 1.491,677 1,309,613
November.
790,547 4,446,398 3,839,083
908,126
November. 21728813 18008724 108094145 03.413,474
November
677,327
624,686 3,812,308 3,703.237
November 5,161,870 4,611,160 26*131,441 23,295,705
November.
807,807
266,169 1,436,179 1,297,296
November.
195,490 1,091.545
228,606
940,871;
.
_
week Oct
week Noy
week Nov
week Nov
Year.
_
_
4th
1st
2d
3d
Previous
Year.
Current
18,469,368
60,010,024
9,700
6,098,298
Phila Balt A Wash. November. 1,509,459 1487,159 V.675,635 7,050,138
Pitts Cin Ch A St L. November. 2,898,845 2,335,331 13,995,213 11,722,890
Raleigh A Southp’t November.
14,326
11,712
62,861
51*292
Reading Company.
Phila A Reading- November. 4,000,848 3,524,507 18,344,232 16,553,330
Coal A Iron Co__ November 3.532,035 3,657,764 12.392,035 13,761,804
Total both cos
November. 7,532,883 7,182,271 30,736,268 30,315*138
Rich Fred A Pot
October
169,694
151,220
569,545
651,229
io Grande June
October
112,708
82,504
380,323
304,543
Rio Grande South. 1st wk Jan
11,162
6,222
258,171
331*813
Rock Island System November. 5,873,966 5,107,207 29,651,036 26,443,315
St Jos-A Gr Island. November.
131,946
137,839
736,098
753,747
St L A San Fran
November. 3,792,528 3,332,117 18,120,167 16,105,150
Chic A East Ill.. November. 1,072,516
920,784 4,972,105 4,377,129
f Evansv A Ter H November.
224,219
173,97: 1,085,998
951,953
Total of all lines. November 5,089,263 4,426,873 24 178,270 21.434,233
St Louis Southwest. 1st wk Jan
184,345
166,913 5,979.230 5,697,728
San Ped L A A S L. October.
649.71t
709,261
2,828,048 2,304,577
Seaboard Air Line.r October
1,630,651 1,437,952 5,620,313 4,941,782
Atlanta A Blrm.r October
87.508
91,878
342,729
309,878
Florida W Shore r October
11,373
9,888
28,188
32,252
Southern Indlana.r November.
124,966
102,237
604,566
529,489
c Southern Pac Co._ November. 12324026 11085203
58,635,947 52,188,196
Southern Railway.. 1st wk Jan
946,061
879,075 30,196,801 27,458,199
Mobile & Ohio
1st wk Jan
174,496
168,457 5,411,123 5,103,445
an N O A Tex P. 1st wk Jan
134,584 4,587,899 4,022,688
146,974
Ala Great South. 1st wk Jan
58,453 2,088,334 1,873,104
66,739
Georgia So A Fla. 4th wk Dec
61,112 1,171,349
83,153
960,435
Texas Central
4th wk Dec
47,528
39,364
555,043
656,978
Texas A Pacific
1st wk Jan
241,297
247,447 8,554,487 8,167,202
Tidewater & West.r November.
6,880
5,368
32,945
29*451
Toledo A Ohio Cent November.
389,161
372,157 1,876,264 2*197,608
Toledo Peor A West 1st wk Jan
19.2951
15.920
618,062
596.088
Toledo St L A West 3d wk Dec
84,435
79,898 1.892.
November.
7,286
Tombigbee Valley
7,712
32.834
29*421
Union Pacific Syst. November. 8,341,783 7,241,813 40,816,005 36,057,368
Vandalia
r November.
834,501
760,887 4,144,957 3,849,405
105.425
105,741
Virginia A Sou West November.
529.949
522,206
Wabash
1st wk Jan
472,99.“
446.338 15,307,575 13,805,521
Western Maryland r October
607,697
541,804 2,340,744 2,086.235
West Jer A Seashore November.
377,963
324.763 3.021,032 2,739,532
Wheeling A L E._r November,
621,756
458,275 3,092,771 2,573,581
962
WhlteRlv(Vt)2 wks end Dec 4.
1,441
Wrlghtsvllle A Tenn November.
29,982
24.6081
140,499
119", 77 5
Yazoo A Miss Vail. December 1.070,672 1,166,229 5,387,981 3,329,162
__
8
July 1 to Latest Date.
Previous
Year.
2.990,353 2,411,208 14,543,358
1,158,437 1,004,537 5,519,414
6,690,435 [6,418,352 35,681,803
638*146
489,899 3,668,797
4,742,466 3,436.074 23,753,539
14467717 12199 817 69,546,924
d West of P A E. November.
Inc 1,94 7,300
Inc 7,87
Pere Marquette
r November. 1,390,746 1489.803
6,940,648
__
Weekly Summaries.
Current
Year.
November.
November.
November.
November.
Pennsylvania Co__r November.
d Penn—E of P A E November.
-
AGGREGATES OP GROSS
Week or
Month.
ROADS.
4.89
7.29
9.83
8.35
Mch
.
$
1909 (890 roads). 205,708,319 183.453.90C
197,011.539 175 602,648
April 1909 (895 roads).
May 1909 (898 roads).
June 1909 (893roads).
July 1909 (885 roads).
Aug 1909 (883 roads).
Sept 1909 (711 roads).
Oct
1909 (699 roads)
Nov 1909 ( 45 roads).
Month Dec
b Includes earnings of Gulf A Chicago Division,
Cur’nt Year Prev's Year Inc.
.
1909 (48 roads)
201,625,122
210.357.226
219,964,739
236,559,877
236,874,425
174,473,411
163*983.829
195.245,655
206,877*014
211*281,315
851.187,152 225,109,822
65,522,732 58.007.375
59.858*521 56,638.060
or
Dec.
%
$
+ 22,254,413 12.13
+ 2.008,891 12.50
+ 27,149,711
+26,373,307
+ 24,719,084
+29,682,863
+25,593,110
+26,077,330
+7,515,357
15.58
14.33
12.66
14.35
12.11
11 58
12.91
+3,220,441)
c Includes the Houston A Texas Central and Its subsidiary lines In both
-*
*
*
-----
-
~
„
o
the latter
Includes
d lines, exA
eount.intr
finnot^tronTNov
„„„
J
“ T„y
or
,
...
-Jl
.
|ncIudc w^lpts from sale of ooal*p
Commerce Commission method,
„
n
.
and Santa Fe Prescott A
Figures hers arson the old basis of ao#
.
Includes the Northern Ohio RR.
o
„*_T
Includes earnings of Mason City A Ft. Dodgeand Wise. Minn. A Pacific,
igo?580111***1 b7 Inter'stAt* Commerce Commission, s Includes Louisville A Atlantic from July 1
r’* hese
1069 and the Frankfort A Cin-
THE CHRONICLE
HU
Latest Qross Earnings by Weeks.—In the table which
follows we sum up separately the earnings for the first week
of January; The table covers 32 roads and shows 8.35%
increase in the aggregate over the same weeklast year.
First
Week of January.
1910.
$
66,739
129,188
174,900
1,315,000
204,500
526,504
79,706
146,974
270,601
318,900
16,886
42,434
Alabama Great Southern
Buffalo Rochester A Pittsburgh
Canadian Northern
Canadian Pacific
Central of Geoiyia
Chesapeake A Ohio
Chicago Indianapolis A Louisv.
-
Cin New Orleans A Texas Pac.
Colorado A Southern
Denver & Rio Grande
Detroit A Mackinac—
_
-.
...
Duluth South Shore A
1909.
Atlantic
Grand Trunk of Canada
Grand Trunk Western.
Detroit Grand Haven A Mil.
Canada Atlantic.
International A Great Northern
Interoceanlc of Mexico^
Iowa Central—
Louisville & Nashville.
Mexican International
Increase.
$
58,453
122,991
145,300
1,098,000
185,000
476,215
77,590
134,584
272,024
340,400
19,588
41,835
Decrease.
i
[VOL.LXXXX.
Interest
Roads.
1,423
21,500
2.702
91,667
18,878
94,453
23,678
Nov
599
December
July 1 to Dec 31
.
...
654,885
536,240
118,645
131,000
137,014
50,445
935,710
128,753
69,955
124,000
135,525
47,435
831,455
122,325
67,043
7,000
1,489
3,010
104,255
6,428
2,912
325,217
769,000
174,496
853,620
6,222
184,345
946,061
241,297
275,875
703,000
168,457
916,620
11,162
166,913
879,075
247,447
15,920
446,338
49,342
66,000
6,039
19i295
472,992
>....
9,392,639
of December.
Jacksonville Gas Co
17,432
66,986
_
6,150
3,375
26,654
825,544
725,829
1908.
Alabama Great Southern
Atlanta Birmingham & Atlantic
139,858
72,270
142,388
253,885
15,353
30,658
40,307
58,210
79,112
83,153
Chicago Ind & Louisville
Cine New Orl A Texas Pacific, l
Denver Northwest A Pacific
Detroit A Mackinac
Detroit Toledo A Ironton
Ann Arbor
Duluth South Shore & Atlantic
Georgia Southern A Florida..
1,140,943
1,018,970
25,845
9,197
39,364
Texas Central
6,314
32,284
6,987
56,335
After allowing for other Income received.
month in these columns, and the latest statement of
this kind will be found in the issue of Dec. 25 1909.
The
next will appear in the issue of Jan. 29 1910.
once a
Cross
Current
Year.
Western Ohio Ry.b
July 1 to Nov 30
Nov
$
Bridgeton A Saco Riv b-Nov
3,424
July 1 to Nov 30
22,604
Central of Georgia.a.... Nov 1,117,427
July 1 to Nov 30
5,174,319
Chicago Ind & Louisv.b-Nov
509,224
July 1 to Nov 30
2,603,696
Duluth So Sh A Atl.b.-Nov
270,968
July 1 to Nov 30
1,483,378
Grand Trunk of Canada—
Interest
Current
Year.
Western Ohio Ry
*
Nov
500
7,409
8,004
293,693
1,348,906
138,062
793,224
73,436
346,705
367,469
1,604,526
198,180
1,018,897
77,780
498,396
$
....
13,584
Keystone Teleph Co.a.-Dec
July 1 to Dec 31
94,790
551,052
Okla Gas A Elec Co.a..Nov
65,421
247,558
42,150
266,166
88,854
528,237
42,954
170,806
36.124
235,318
,.
799,079
4,157,451
85,650
602,960
26,280
190,280
45,745
59,371
7,968
55,121
11,600
77,524
Previous
Year.
5
15,410
77,258
—Bal. of Net E'ngs.—
Current
Year.
5
14,868
76,314
5
2,610
34,693
Previous
Year.
Third Avenue Railroad, New York.
{Income Accounts for Year ending Sept. 30 1909.)
following figures, furnished by Receiver1 Whitridge,
appear in connection with the reorganization plan, an ab¬
stract of which is given on another page:
The
3d Ave.
TJnionRy. 42d St., Ry. DryDk. Ry. Total.
$2,358,364 $2,019,829 $1,304,269 $622,255 $6,304,719
1,555,121
1,394,043
710,942 367,730 4,027,838
8,692
47,384
276,968
26,216
94,374
24,946
149,495
Net earnings here given are after deducting taxes,
b Net earnings here given are before deducting taxes,
These figures represent 30 % of gross earnings j
Gross earnings.
Expenses
$80*3,243
*411,813
146,399
17.7S0
$625,786
.$1,379,235
rt$250,000
Interest on loans & mtges.
103,814
*Taxes
123,221
Hire of equipt. & rents
Extraordinary lmpts., &c.
78,959
§326,457
$100,000
Cr. 10,120
$598,324 $256,190 $2,860,207
$72,000 $47,500
$469,500
5,000
109,535
72,402
27,847
313,960
85,273
62,855
187,681
9,083"
18,710
96,631
$555,994
823,241
$220,642
405,815
$243,758 $156,912 $1,177,307
354,566
99,278 *1,682,900
.
Interest and miscellaneous
n24,751
W215,892
21,424
113,510
14,698
18,800
138,693
5
3,751,28 2
37,487,029
7,017
44,531
266,459
19,411
73,834
22,873
144,591
.
.
$593,327 $254,525 $2,276,881
*411,813
671
720
90,490
39,552
4,997
1,665
146,399
25,114
a This Item includes only the Interest on the 1st M. 5% bonds maturing July 1
and does not include interest on the consol. M. bonds of the 3d Ave. RR. Co.
*
Includes car licenses, but not franchise tax.
x Not including power furnished Westchester Electric RR. and Yonkers RR.
1 to Sept. 30 1909—amounting to $112,386.—V. 90, p. 54.
1937,
April
American Sugar
Refining Go.
{Official Statement to Stockholders.)
A lengthy statement submitted by the directors at the
annual meeting on Wednesday, which contains much infor¬
mation about the company’s properties and business and its
defense to the “widespread misrepresentation and unjust
criticism to which it has been subjected,” will be found in the
advertisement on preceding pages.
The financial report for 1909, giving the results of the
year’s business and a statement of assets and liabilities as
of Dec. 31 last, is being prepared and will be sent to the
stockholders at the usual time.
Meantime the directors
assure the stockholders that the year has been a
prosperous
one and that the dividends have been fully earned.—-V*
89,
p.
1670.,
,
5
1,045
21,140
Annual Reports.—An index to annual reports of steam
railroads, street railways and miscellaneous companies which
have been published during the preceding month wili be
given on the last Saturday of each month. This index will
not include reports in the issue of the “Chronicle” in which
it is published.
The latest index will be found in the issue
of Dec. 25.
The next will appear in that of Jan. 29.
70,843
462,544
Net Earnings
Current
Previous
Year.
Year.
Amer Tel & Tel Co (Associa¬
ted Cos) b
Novll,788,696 10,769,662 3,889,238
Jan 1 to NOV 30
123,434,320 114234,927 39,568,301
July 1 to Nov 30
San Diego Con G A El._Nov
Apr 1 to Nov 30
Previous
$
'
16,792
5
15,913
97,454
ANNUAL REPORTS.
%
Jacksonville Gas Co.a-.Nov
Previous
Year.
After allowing for other income received.
59,290
567
Nov 2,965,158
2,784,124
756,254
]14,812,762 13,689,574
4,213,416
Grand TrunkWestern.Nov
492,489
437,498
99,763
July 1 to Nov 30
2,586,068
2,387,296
687,151
Det Gr Hav & Milw._Nov
172,761
148,429
49,639
July 1 to Nov 30
860,397
762,362
217,776
Canada Atlantic
Nov
208,773
175,681
65,698
July 1 to Nov 30
940,207
850,663
159,621
Maryland & Penna .a
Nov
33,662
29,622
9,253
July 1 to Nov 30
182,675
170,265
62,655
Mineral Range .b
Nov
70,838
66,326
11,132
July 1 to Nov 30
369,495
362,503
61,307
Pacific Coast
Nov
638,146
489,899
100,281
July 1 to Nov 30
3,668,797
2,877,809
865,441
Rio Grande Junction....Octi
112,708
82,504
n33,812
Dec 1 to Oct 31
878,212
719,639
n263,464
Rio Grande Southern.b-Nov
55,356
53,694
25,170
July 1 to Nov 30
207,965
269,152
62,369
Toledo Peoria & Wes_b.Nov
90,207
88,533
17,080
December
105,468
92,194
24,535
July 1 to Dec 31
598,768
580,169
156,198
INDUSTRIAL COMPANIES.
$
5
18,020
111,951
Charges and Surplus.
Roads.
Year.
Ry
July 1 to Nov 30
$
5
36,418
204,292
—Int., Rentals, Ac.—
$
Grand Trunk
Companies.
5
41,474
227,841
Current
Year.
Net earnings here given are after deducting taxes.
b Net earnings here given are before deducting taxes.
Year.
3,077
23,455
Gross Earnings
Current
Previous
Year.
Year.
Net Earnings
Previous
Year.
a
Net Earnings—
Current
$
1,008,065
4,899,432
433,785
2,355,029
232,191
1,170,630
Earnings
8,164
17,522,287 15,948,781 1,632',796
1,573,506
Gross Earnings—
Current
Previous
Year.
Year.
v
Railway Net Earnings.—The following table gives
railway gross and net earnings
reported this week. A full detailed statement, including all
roads from which monthly returns can be obtained, is
given
5,086
1,089
47,528
2,742,298
2,686,972
27,844,673 25,748,533
5,950
4,034
22,665
10,106
93,019
59,481
18,724
13,096
63,156
41,550
17,529
15,886
89,871
88,259
Electric
Cl.’26
Earnings Monthly to Latest Dates.—The table fol¬
lowing shows the gross and net earnings of STEAM railroads
and of industrial companies reported this week:
7,491
31,218
7,417
59,624
Roads.
Net
n
183,949
—Bal. of Net E'ngs.—
Current
Previous
Year.
Year.
5
5
the returns of ELECTRIC
121,973
20,759
8,108
2,983
Okla Gas A Elec Co
Nov
July 1 to Nov 30
San Diego Cons G A El. .Nov
Apr 1 to Nov 30
“
99,715
3,642
24,719
34,423
206,978
*
~
Nov
Increase.
s
S
14,074,702 1,368,158
115,448
24,410
65,802
6,468
123,799
18.589
217,010
36,875
8,940
6,413
27,797
2,861
36,678
1,649
51,115
7,085
69,013
10,099
61,112
22,041
Previous
Year.
Keystone Telephone Co.Dec
July 1 to Dec 31
July 1 to Nov 30
Nevada-California-Oregon
a
Current
Year.
5.5
63,000
4,940
8,666,810
1909.
Previously reported (25 roads). 15,391,734
Roads.
$
def 137
3,104
4,356
4,900
89,241 *def20,075 *defl2,113
441,700
*50,774 *def60,809
3,979
5,294
3,989
19,793
42,862 *
35,328
13,501
*def 465
*def 480
65,472 *def3,178
*13.562
8,333
25,479
16,418
91,667
171,797
124,225
19,670
*6,565
*1,835
96,029 *def23,835
*23,379
24,723 *def.4,058 *def.7,358
23,228
*748 *def. 1,898
140,604
*22,558
*8,73*4
Amer Tel A Tel Co (Associa¬
ted Cos)
Nov 1,146,940
1,064,310
Jan 1 to Nov 30.
11,723,628 11,738,496
For the fourth week of December our final statement
42 roads and shows 9.83% increase in the aggregate
over the same week last year.
Total (42 roads)
Net Increase (9.83%)
24,787
144,433
def 26
INDUSTRIAL COMPANIES
Companies.
covers
Grand Trunk of Canada
Grand Trunk Western
Det Gr Hav A Mllw
Canada Atlantic.
Mineral Range
8,333
637
—Int., Rentals, Ac.—
..
Week
$
593
Rio Grande Junction.... Oct
Dec 1 to Oct 31......
Rio Grande Southern.._Nov
July 1 to Nov 30.
Toledo Peoria A West..Nov
Maryland A Pehna
.
Missouri Pacific
Mobile A Ohio
National Railways of Mexico..
Rio Grande Southern..
St Louis Southwestern
Fourth
3
Bal. of Net E'ngs.—
Current
Previous
Year.
Year.
.
Minneapolis A St Louis
Minneapolis St Paul ASSM..1
Chicago Divisionj
Total (32 roads)
Net Increase (8.35%)
I
.
July 1 to Nov 30
Mineral Range
.Nov
July 1 to Nov 30..-
Nov
—.
Sl
.
Previous
Year.
3,053
101,888
469,878
3,959
19,793
13,084
66,018
Duluth So Sh A Atl
July 1 to Nov 30
,
8,286
6,197
29,600
217,000
19,500
50,289
2,116
12,390
Cuttent
Year.
^
Bridgeton & Saco River.Nov
July 1 to Nov 30
,
Southern Railway
Texas A Pacific..
Toledo Peoria A Western
Wabash—
Charges and Surplus.
—I*t„ Rentals, Ac.
THE CHRONICLE
Jan. 15 1910.!
Lawyers’ Mortgage Oo., New York.
{Report for Year ending Dec. 31 1909.)
_,
The report of President Richard M. Hurd for
fiscal year is published in the advertising pages of
“Chronicle." The report shows:
the late
to-day's
57091
1908.
1907.
$
1906.
$
$
27,152,558
13,554,349
20,316,677
11,091,102
22,959,085
Dec. 31,j_-___
94,702,480
Income from—
Premiums for guaranties
410,888
77,277,934
63,679,725
54,454,150
340,300
219,619
10,012
296,310
199,372
8,130
234,909
183,025
4,054
Interest on mortgages.
235,925
7,362
_
Rents, commissions, Ac.
Gross
earntngs._
"
9,381,716
654,175
569,931
503,812
421,989
19,000
86,625
12,984
71,910
/10.671
l 3,111
6,053
53,788
8,894
2,768
17,095
Expenses—-
Rent
Salaries
Advertising
25,969
21,057
8,562
64,889
8,595
2,944
17,631
145,998
119,733
450,198
(10)250,000
102,622
401,190
(10)250,000
\
14,404
Stationery
J
Taxes and gen. expenses
*
Gross expenses
Net earnings
508,177
Dividends paid
(12)390,000
Total
1908.
$
$
,000,000 2,500,000
,000,000 2,000,000
247,745
129,568
695,931
417,985
Total
6,943,676 5,047,553
6,943,676 5,047,553
7,121 guaranteed loans outstanding (see “operations” above),
the average loan In Manhattan amounting to $30,000, in Brooklyn to
$5,600 and In the Bronx to $13,000.—V. 89, p. 221.
H. B. Claflin Co.
{Report for the Season ending Dec. 31 1909.)
In view of the present prices of cotton and wool, we are fortunate in
owning at conservative values a stock of staple goods sufficient for our
immediate requirements, which were purchased somewhat earlier than
usual on account of the condition of the market.
If it were necessary for
us to buy these goods now, we should pay material advances.
INCOME ACCOUNT HALF-YEAR ENDING DEC. 31
1904..
1909.
—Interest and Dividends—
Earnings.
Pref. Stock.
$142,126
142,126
142,126
142,126
142,126
142,126
Balance,
Surplus.
$83,216
15,397
209,709
113,829
208,204
25,647
Com. Stock.
(4)$153,164
(4)153,164
(4)153,164
(4)153,164
(4)153,164
(4)153,164
INCOME ACCOUNT YEAR ENDING DEC. 31.
1909.
1908
$284,252
284,252
284,252
$670,339
303,250
959,274
761,377
821,427
1905
1904
284,252
284,252
284,252
631,697
(8)$306,328
(8)306,328
(8)306,328
(8)306,328
$79,759
def.287,329
1909.
Merchandise
11,117,437
Store property... 2,739,182
Stable..
Horses, trucks, Ac.
27,197
65,710
(8)306,328
(8)306,328
1
1908.
$
QOQ
Liabilities—
$
3,147,902 First pref. stock.. 2,600,300
171,332 Second pref. stock 2,570,600
2,142,294 Common stock
3,829,100
1,668,862
6,146.010
2,739,182
27,197
54,210
20,401,145 16,096,989
Total
Open accounts... 8,775,140
Foreignexch., Ac.
465,500
Surplus reserve...*1,781,999
Profits during fall.
378,506
Total
1908.
$
2,600,300
2,570,600
3,829,100
4,526,244
490,000
1,770,058
310,686
20,401,145 16,096,989
*
Adding $83,216 surplus for full season, leaves $1,865,215 surplus after providing
for Interest on pref. stocks to Dec. 31 and dlv. on com. stock declared in Jan., pay¬
able Jan. 15 1910. “Total dividends to date. $11,097,994.”—V. 89, p. 165.
.sJ
Swift
&
Chicago.
{Report for Fiscal Year ending Sept. 30 1909.)
the annual meeting last week, Treasurer L. A .Carlton
Company,
At
said in brief:
We have paid you the 7% annual dividend in payments quarterly and
added to your surplus $4,000,000, making the book value of the stock
Oct. 2 1909, 136, besides taking care of the upkeep of the property and
writing off a generous depreciation. It was not possible to get the same
amount of meat and by-products from the same number of animals as in
most previous years, attributable mainly, we believe, to less generous
feeding. This was particularly noticeable In the yield of lard, the lessened
production being emphasized In the highest market prices In years. Our
other by-products make a favorable showing with 1908, including butterine,
oil and stearine, tallow and greases, wool, hides and pelts, soap and fer¬
tilizers.
The total value of our turn-over was also In excess of 1908 by about
$10,000,000.
President Louis F. Swift, said in part:
Our fiscal year has been fairly successful, considering everything.
Our
volume in dollars and cents Is In excess of that of last year.
There Is one
improvement particularly apparent in Packlngtown, namely, the disap¬
pearance of the smoky chimneys, and their replacement by practically
smokeless chimneys.
These things cost money, but we believe they pay
in the long run.
For the benefit of plant employees, restaurants have been established,
where coffee is sold for one cent per cup and other articles proportionately
cheap.
Our employees’ benefit association, which provides insurance
case of sickness, accident or death, is popular beyond all ex¬
pectations. The cost to the company of maintaining this bureau is about
$30,000 per annum.
The number of our employees purchasing stock is continually increasing,
which is very gratifying to us. *
■
The prices on all kinds of live stock are high; hogs in particular are high,
and have remained high longer than has ever before ocourred In the history
of the trade, and it is natural to expect that prices will decrease somewhat
by spring, at least.
I feel that some of the talk about the high price of
beef is due to the great demand for the rib and loin outs, of which there is
benefits in
2,800,000
1,306,114
$8,190,000
$7,606,114^
3,500,000
2.703,995
96,824
3,500,000
2,500,000
501,883
.
$6,300,819
$6*501,883
BALANCE SHEET OCT. 3.
1909.
$
A ssBts Real estate, impts.,includ. branches.
Horses, wagons and harness
Quick assets—
Sundry stocks and bonds
Cash
Accounts receivable
Live cattle, sheep, hogs,
....
...
on
dressed
1907.
$
$
'
\
*’ ■
28,640,646
139,833
28,751,026
132,378
17,356,084
3,308,235
36,433,482
13,486,800
3,107,601
12,233,999
33,418,734
31,992,079
22,169,003
24,735,5
28,203,703
144,196
3,358,99
.
27,046,016
;
1908.
-
hand
Total assets.
.
..112,924,296 101,065,542 100,668,533
Capital stock paid in
60,000,000
5,000,000
62,500
13,882,200
; 8,596,517
3,383.079
22,000,000
Bonds
Reserve for bond interest
Bills payable
Accounts payable
Reserve for taxes, Ac
Surplus
Total liabilities
—V. 90, p. 114.
50,000,000
5,000,000
62,500
21,716,843
3,686,415
2,599,784
18.000,000
..112,924,296 101,065,542
,/
50,000,000
5,000,000
62,500
23,876,239
5,236,124
1,293,670
15,200,000
100,668,533
{Report for Fiscal Year ending Oct. 31 1909.)
adjournment of the annual meet¬
ing this week said:
President Oler upon the
As regards the increase in the profit account, I may say this is due to
the betterment of our manufacturing conditions; instead of paying divi¬
dends, the directors of the American Ice Co. believe it better to invest the
money in new manufacturing plants and in the reduction of
fixed obligations.
Since the issuance of $3,000,000 first
interest-bearing
interest-bearing
mortgage bonds last spring, this company has acquired over $1,000,000 of
these bonds, thus reducing the fixed charges to tne extent of the accrued
interest.
We are
engaged in harvesting all along the line. We find conditions
good we should be well through
now
EARNINGS, EXPENSES, Ac., FOR YEAR ENDING OCT. 31.
Earnings A Expenses— 1908-09.
1907-08.
1906-07.
1905-06.
Gross receipts
$8,710,928
$8,118,592 $7,941,525 $10,303,470
Less cost of merchandise $2,684,176
$2,683,907
$2,709,851
$2,871,106
Less operating expenses.
3,899,862
3,897,339
3,931,338
4,470,353
$6,584,038
$2,126,890
$6,581,246
$1,537,346
20,527
$6,641,189
$1,300,336
39,908
$7,341,459
$2,962,011
42,716
Gross earnings
$2,142,225
Distributed as follows—
Bond interest
$240,960
Int. on floating debt
50,059
Rents
162.533
Taxes and insurance
177,330
Malnt. and improvem’ts
465,363
$1,557,873
$1,340,244
$3,004,727
$210,152
$208,803
57,366
209,631
352,708
$211,279
110,679
169,576
200,299
497,078
$1,096,245
$1,045,980
$1,007,849
$550,024
$1,188,911
$151,333
$1,047,864
$1,956,863
Received from sub.
excess
of divs. from
Total net profit
x
15,335
cos.
Net gain
Net profits of sub cos. in
368,694
170,797
230,847
41,117
BALANCE SHEET DEC. 31.
Assets—
S
Cash
2,033,957
Dividends
171,332
Bills receivable... 2,181,204
Open accounts... 2,065,126
3,500,000
4,000,000
say 185,000
very favorable, and If conditions remain
within three weeks’ time.
President John Claflin says:
1...$378,506
310,686
504,999
409,118
503,493
320,937
1906-07.
1905-06.
“Over
Considerably over
American Ice Oo.
1909.
j
Net
“Over
4,025,000
Total
88,599
333,389
are
6 Months to
Dec. 31—
1909.
1908
1907.
YEARS ENDING OCT. 3.
1907-08.
$250,000,000 $240,000,000 $250,000,000 $200,000,090
SHEET DEC. 31.
1908.
Assets—
Liabilities—
$
$
N.Y.Clty mtges 5,544,348 3,638,460 Capital
4
Co’s Brooklyn
Surplus
2
175,000
175,000 Undivided prof.
bldg., cost..,
Real estate....
14,264 Mtges. sold, not
Cash
delivered
1,224,328 1,219,829
There
“Over
Business
/
done
1
Dlvs. (7%)
Added
to
surp
Added to res. fun.
(8)200,000
200,198
118,177
133,389
151,190
Note.—In addition to the cash earnings are the unearned premiums,
which consist of the company’s contract profit of M of 1% per annum on
outstanding mortgages from the date of the annual statement to the ma¬
turity of the mortgages. These unearned premiums, which as future profits
are not carried as assets, have increased as follows: Jan. 1 1903, $103,555;
Jan. 1 1904, $149,257; Jan. 1 1905, $279,948; Jan. 1 1906, $449,200; Jan. 1
1907, $591,508; Jan. 1 1908, $701,204; Jan. 1 1909, $836,115; Jan. 1 1910,
$1,036,961; total net Increase since Jan. 1 1903, $933,406.
BALANCE
^
beef, Ac.,
Balance, surplus
1909.
continued.
1908-09.
S
35,333,294
sold
Guar, mtges. paid off— 17,908,748
Guar, mtges. outstand’g
Guar, mtges.
only about 26% of the total. The proper preparation and cooking ofithecheaper cuts (or 74 % of the beef) is being given considerable attention by
domestic science authorities, with a view of Increasing the use of cheaper
cuts, which are just as nutritious as the rib and loin cuts, thereby affecting a
This work is commendable and should be
saving in the cost of living.
OPERATIONS FOR FISCAL
OPERATIONS FOR CALENDAR YEARS.
1909.
165
73,727
161,631
176,382
138,175
467,137
53,374
61,308
34,032
43,738
..£$1,099,354
$611,332
p$185,365
$2,000,601
same
A dividend of 1H % on the preferred stock was paid Oct. 1 1909, calling
for $223,803 (V. 89, p. 722).
V A dividend of 9% ($1,350,000) on the preferred stock was declared in
Oct. 1906, payable Dec. 15 1906 (see V. 83, p. 1058).
The American Ice
Securities Co., as owner of about $14,800,000 of the preferred stock, re¬
ceived from this distribution approximately $1,287,000 and from the same
paid three quarterly dividends of 1 %% each on its own $19,030,000 stock
in Jan., April and July 1907.
The last-mentioned distribution called for
about $1,000,000.
BALANCE SHEET OCT. 31.
Assets—
Gen. prop'ty acct.
Good-will, water A
1909.
$
9,022,227
1908.
$
patent rights...17,195.586 33,260.055
2.637,162
125,594
6,000
100,105
12,447
Invest, securities. 2,625,312
Cash and notes...
473,110
Loans
Bonds and mtges.
100,750
Insur. premiums..
13,908
Ice, coal, Ac
528,770
Accts. receivable.
Ice, coal, Ac
862,004
...
Total
•
The above
100:1.
1908.
8
g
stock... 14,920,200 14,920,: 00
Common stock... 7,181,330 23,871,100
Bills payable
110,726
630X00
Liabilities—
8,534,022 Preferred
Underlying bonds.
693,550
Coll, trust bonds
Amer. IceCo... 1,908,000
1st A gen. M. bds. 2,346,000
Real estate mtges.
261.020
533,769 Accts., Ac.,
Total
1,959,COO
....
405,. 30
pay¬
able
461,072
836,348 Profit A loss (sur.)*2,959.769
30,821,667 46,045,502
l,6o5.i 50
457,. 30
2,137X92
.30,821,667 46.045,502
surplus, $2,959,769, does not include $53,374
subsidiary companies not yet paid into the treasury.
on a following page.—V. 89. p. 1598.
See
new
profits Of
directors
GENERAL INVESTMENT NEWS,
RAILROADS, INCLUDING ELECTRIC ROADS.
American Railways.—Listed in Philadelphia—Acquisi¬
tion.—The Philadelphia Stock Exchange has listed $1,104,_
400 additional capital stock, issued in connection with the
acquisition of the Roanoke Traction & Light Co., the Lynch¬
burg Traction & Light Co. and the Johnsto.vi Passenger
Ry. Co. The total amount of stock to be issued in this con¬
nection is 28,100 shares, or $1,405,000.
The total amount
now listed is $6,199,500.
A press dispatch from Johnstown
on
Jan. 7 said:
The time for the exchange of the stock of the Johnstown Pass.
Ry. for
stock of the Am. Rys. Co. has been extended until Jan. 26, after which
no further stock will be exchanged.
At the meeting Jan. 10 the American
Railways Co. will take over the operation of the Johnstown linesand the
annual dividend of the Johnstown
Company will be passed, the earnings
to be applied to a rciuctloa of Its
floating debt.—V. 89, p. 1595 , 844. J
Atlanta Birmingham & Atlantic RR.—Coupons of Equip¬
Paid.—Receiver H. M. Atkinson on Jan. 6 wrote:
ment Bonds
166
THE CHRONICLE
Thelnstallmehtfiue Nbv, t dh theI906 equipment bonds. wa£ paid and
the coupons adjusted as between the ralfro&d company and the Atlantic &
Birmingham Construction' CO.; which latter company owns the bonds.
The interest and installment of principal due Jan. 1 on the Series “B”
equipment bonds have been paid.—V. 89, p. 223, 102.
Atlantic Coast Lin# EE.*—Listed.^-Th6 New York Stock
Exchange has listed $1,000,000 additional first consolidated
mortgage 4% bonds, making the total amount listed $49,524,000, and' has authorized to be listed $17,453,700 addi¬
tional common stock on notice of exchange for convertible
4% bonds. Compare V. 89, p. 1481, 1346, 1141. The new
stock will be issued and dated Jan. 15 and will be entitled to
all dividends declared subsequent thereto.
Purposes for Which the $1,000,000 Bonds Listed have been Used.
To acquire new and additional rolling stock
$470,000
For new terminals ($376,000), real estate, shops and double
track
($153,000)
529,000
To retire certificates of indebtedness and fractional
scrip
1,450
Earnings.—For 3 months ending Sept. 30:
Three
Gross v-.
Months.
Earnings.
1909...
$5,830,732
1908
5,220,512
—V. 89. p. 1595.
;
;
Net (after
Taxes.)
$1,323,213
1,023,946
Other
Income.
Fixed
Charges.
$1,111,631
$1,357,880
Balance,
Surplus.
$1,076,964
j Baltimore & Ohio RE.—Baltimore & Ohio
Chicago Terminal
BR> Co.—See that company below.
Increase in
Traffic—New Rolling Stock—Improvements Made
Proposed.—President Murray, under date of Jan. 8, in
an advertisement
published in the “Baltimore Sun” of
Jan. 10, replies to shippers’ and other criticisms in substance:
and
It‘ Is true the demands
on the road of
certain directions to the utmost,
the railroad has failed to handle
late have taxed Its facilities In
bqt this does not necessarily
s
mean that
normal tonnage with reasonable dls-
Satch.
thehandled
preliminary
December
On the contrary,
figures
show a very
eclded Increase
Ih business
during
that for
month,Mn
which
the
even
copi business, as to which there has been go much, talk, will share.,and this
despite the shVCre weather conditions. It is safe to say, had the.proportion
of
in
the 100 locomotives ordered, which it
arranged should be delivered
no cause for complaint.
locomotive^ are now coming,from the ghopg, and It Is expected deliver¬
ies" Will comjhu& steadily from how on, and. with ,the, 10,000 freight cars
ordered, .Will Undoubtedly meet requirements for a tonnage greatly in excess Of ahV heretofore handled.
*
‘;;
.•
When ,ln 1890 the receivers' took charge^; the property
con¬
sisted Of 2,094 miles of fine, of Which but 623 miles was operated
double.track.
The freight equipment consisted of 26,440 cars, 5,000 of which were
idle,
awaiting repairs, and of the, 857 engines, over 200 were unfit for service.
The first Work of the receivers, was practically, to rebuild the
property, in
which' the entire line Wa6 relaid wltn heavy rails,
replacement of bridges,
Ac., but the great work of extension and betterment was done on the en¬
tire system, comprising the original line and HfiOs
subsequently acquired
and operated.
The qontlnuous upbuilding of the system since February
1896 has not only made possible the development of vast coal and
timber
areas', but has affprded facilities for innumerable industries in cities and
towns on the lipe, and has- placed the road, through the reconstruction of
bridges, roadway add buildings, and through the addition of
equipment,
well In line with other modern trunk-line systems.
Capital Expenditures Aggregating $151,704,000 4n 13 Years—$24,000,000
:
Additional to Be Spent.
f\
There has thus been expended on the property from 1896 to
Dec. 31-1909.
i
-__$91,356,582
New equipment of the highest capacity, 1896 to Dec. 31
v;; ■'
1909,
has cost
60,347,421
TO complete construction and betterments now authorized and
being actively progressed will require over—<.
10,000,000
Equipment contracted for and now being delivered will cost >
was
December, been received, there would have been
TfiC
_.
.
,
,
—
approximately
14,000,600
At present the equipment consists of 1,906 locomotives and
81,978 freight
cars, to be shortly augmented by 100 engines and
10,000 freight cars
now under contract.
The expenditure of $151,704,000 in a period of 13 years, with
the further
engagement of $24,000,000, exclusive of expenditures for subsldlafy termi¬
nals, such as the company's interest in the Washington
Terminal, the
Chicago Terminal Transfer RR. Co., &c., aggregating many millions more,
are figures which render ridiculous the
suggestion that the B. & O. policy
has been‘‘a negative one."
»
Total Traffic, Ac., Showing Increase
.
■
»
.
Accompanying Physical Expansion
and Improvements.
Year—
.-■
1896.
1900-01, ,,
1908-091; ;
Miles operated directly
2,095
3,220
■*"/■. 4.0Q3
Total trackage
3,541
5,521
7,509
Revenue tonnage (tons)
17,861,927 33,528,513 48.223,474
Bituminous coeil tonnage (tons)
6,445,417
13,346,700 20,956,585
Gross revenue, "income lines”
$23,944,781 $47,971,223 $71,043,519
If the controlled or affiliated lines be Included
'for’the’year’l908-09, It
adds 456 miles of line, trackage
aggregating 831 miles, and brings gross
revenue up to $76,412,856.
For ten months of the current calendar year the
B. & O. handled 18,289,705 tons of bituminous coal, an Increase over
the same period of 1908 of
324,358 tons.—V. 90, p. 107
Baltimore
&’Ohio|Ghicago Terminal RE.—Reorganized Com¬
pany.—This company, with $8,000,000 of authorized capital
stock, filed articles of incorporation at Springfield, Ill., on
Jan. 10 as successor of the Chicago Terminal Transfer
RR..,
which was bid in at foreclosure sale
RR. Co. (V. 90, p. 108).
on
Jan. 6 for the B. & O.
Brooklyn Rapid Transit Co.—Wages Increased.—An
of wages of the employees of both the surface and
crease
in¬
ele¬
vated lines has been announced, effective Jan.
28, which will
amount to about
$200,000 a year, or over 10% of the $1,936,609 surplus after the payment of charges for the year
ending June 30 last.
This amount, it is stated, "will be further Increased
by efficient
depending entirely on the efforts of the men.” Provision Is mad6service,
Under
which, by good conduct, promotion may be obtained to
the higher grades
at periods earlier than those prescribed for
advancement by length df ser¬
vice alone.
The increase is in addition to the pension
system recently
adopted.—V. 89, p. 1595.
Capital Traction Co., Washington, D. 0.—Report.—For
ending Dec. 31:
; /i.
year
Fiscal
;
Gross
Year—Earnings.
1909 ---$2,024,484
1903.^ 1,831,810
—V. 89, p. 918.
Net
Other
Earnings.
$1,106,111
1,038,669
Income.
$29,294
24,164
Interest, Dividends
Taxes, Ac.
(6%).
$293,024
$720,000
290,947
720|000
lxxxx.
At the instance of the committee
a new corporation has been or will be
organized, under thdlaws of Illinois (see Chldatfo’Uilited
Ry,, V. 89, p. 1541).
^
acquire
ith®,
properties
ofthq
North
ly and: the properties
ofthe Consolidated
Company,
and
puch additional properties, ft any. as
the committee may in Its discretion dfeein
advisable to be aequlred. v v ' ’ “
Wherever the expression "properties of the
Consolidated
is
us£d in this plan, it includes all the property ndw belongingCompany”
to the Con%Luj££?i Company except those parte covered by the 82,500.000 mortgage
($2,000,000 ontstanding) of Cicero & Proviso Street RR. Co. or the $750,000 niortgage of Ogdeh Street
Ry. Co. Th6 Transit bonds, North
bonds,/Evanston bonds. North Side bonds, Jefferson bonds andChicago
North
Shore bonds are referred to as the
"underlying.bonds.”] The 6% first lien
receivers certificates
outstanding are as follows: Chicago Electric Transit
,50i)’^iate(i May 1 1909; North Ch. El.,
$160,728, dated May 1
1909; North Shore Co.. $168,500, dated July 1Ry.,
1908.
t.
Securities to Be Authorized by the New Company.,
New 5% first mortgage
bonds, covering all present and future prop¬
erty, to be issued from time to time for the reconstruction
a55,^ebablll^atlon and for the acquisition of extensions and
additional property, and,* in the discretion of the
committee,
lor the retirement of
any receiver's certificates that may be
outstanding agaihst any of said properties at the time of their
acquisition. ’ Such bonds shall mature as may be determined
by the committee, and may be made redeemable. [No limit
of Issue fixed,
Rehabilitation and new equipment, it Is said
unofficially, may call for the issue of $6,000,000.—Ed.L
Not fixed
Sinking fund 5% mtge. bonds (subordinate to said 1st mtge.),
covering all present and future property;* maturing at 'such
time as the committee
may determine and subject to redemptlon on
any semiannual interest day, at’ par and interest.
No alvidend shall be
paid upon the capital stock so long as any
df these bonds shall remain
unpaid or shall be Unprovlded forr by
cash deposited with the
trustee;-and a sinking fund shall be
out
provided
of such surplus net earnings aa are not by the
mortgage reserved for other corporate purposes.
i.
•7.Of such bonds there will be issued,
par for par, on account
of acquisition of the
underlying bonds represented by certifi¬
cates of deposits
v iu JtL -s. Aiti i J
——....—$3,133,000
Additional sinking fund mortgage bonds may be issued to
such extent as the committee
may determine: (a) for the acqui¬
sition by or for the new
company of additional properties (In¬
cluding securities); (b) to provide for such portion of the cash
requirements of the reorganization as .may be deemed fair;
(c) to provide for the purchase or retirement of any under¬
lying bonds not deposited; and (d) to provide any amounts
due to the holders of underlying bonds not deposited, out of
proceeds of judicial sale; (e) to make the payments aforesaid of
Interest on the underlying bonds, and (f) to provide
working
capital.
Total—.
teiu.^v;.—Not fixed
General mortgage 5% bonds (subordinate to said first and
sinking
fund-mortgages), covering all present and future..property,
maturing at such time as the committee may determine and
subject to redemption bn any semi-annual interest day at bar
and interest.,s No dividends shall be paid
upon the capital
stock so long as any of these bonds remain linpkid
or unprovided
for by deposit of funds with the trustee.
xr
A portion of such bonds Will-be* Wsue<f to
acquire the de¬
posited stock.of the North Shore Co., dollar for,dollar (plus
interest at 6% p6r annum from April 11909 to the date when
Interest shall commence to run on such bonds; for such interest
the new company may, in lieu of issuing bonds’,'issue 5%’ notch
or scrip collaterally secured by gen. mtge.
bonds equal in ain't
to the notes or scrip so issued) r
650,000
Amount (not incl, lnt.)—
Additional bonds to be issued to tee holders of certificates of
deposit .representing North Shore bonds—87,500
Capital stock in such amount as the committee.may determine.
Such stock to be placed in the hands of trustees, under a trust
Instrument, to be held, voted, dealt with and disposed of as
may be provided in such instrument, and suoh instrument
shall provide for the issuance thereunder of stock participa¬
tion certificates, or other form of security, to be determined
upon by the committee. Such participation certfs. or other
form of security will be issued pro rata for the acquisition of
consolidated bonds represented by certificates of deposit
Not fixed
ThC expenses of the reorganization, expenses of the
receiverships and
any cash requirements which the committee
may determine not to pro¬
vide for by the Issuance of sinking fund mortgage
bonds, may, in the dis¬
cretion of the committee,'be assessed against the holders ofthe .certificates
of deposit representing consolidated bonds, the assessment to be paid as a
condition precedent to the delivery of the participation certificates, or other
form of security, to such holders.
,
t ?
Basis for Participation of Existing Securities in the Securities of the New Co.
To be Exchanged for'
~
.
...
....
.
,
—
-
,
,
.
Present Securities—
0
Class—
Amount.
Transit bonds..—
$1,097,000
North Chicago bonds—
888,000
North Side bonds
155,000
North Shore bonds
675,000
Jefferson bonds.
208,000
Evanston bonds.*—
North Shore stock. ;
.—
130,000
650;000
Sinking Fund
General
Mtge. Bonds
Amounl.
%
100
$1,097,000
Mtge. Bonds.
100
100
%
Amount.
868,000
155,000
100
100
675,000
10
$67,500.
[100
650,000
208,000
130,000
100
(And acc’d diV’d
Thd holder of each certificate of deposit-re.
any of
the underlying bonds will also be paid, in cash, interest at the
rate of 5% per annum upon the principal of such bonds from
the due date of the last interest installment paid on such bonds
’
to the date
on
which Interest shall commence to run on the
sinking fund mortgage bonds. ; ; 7
Consolidated bonds—Pro rata part of tee total issue of participation certifi¬
cates, subject to assessment as provided in the plan.—V. 89, p. 1541,
1279.
***
0 :*.vV
.
Chicago North Shore Street Ry.—Deposits,—The first
mortgage bondholders’ committee, consisting of Wyllys W.
Baira, Solomon A. Smith, J. S. Gadsden, James’Nichols and
J. W. Hamer, formed under agreement dated Nov. 1 1909,
having received deposits of more than a majority of all of
said bonds, has extended the time for accepting deposits of
said bonds at the Illinois Trust & Savings Bank;? Chicago/
depositary, until Feb. T1910. No deports will be accepted
after Feb. 1 except under such terms as may be agreed upon
with, the Committee. See Ch. Consol. Tr, above;—V. 89,p.102.
; Chicago $ North Western toy—Listed.—The New York
Stock Exchange has authorized to be listed on and after
Feb. 14 $30,502,800- additional ^common sfctoOk; recently
offered to stockholders at par on notice of payment in full,
making the total amount to be listed $130,121,700 (Y. 89,
Balance.
Surplus.
p. 1482),;
1 Earnings,—For
$122,381
Fivg
51 886
r
[Yol.
iV
' *:■
■
*
5 months ending Nov. 30:
Operating
Net Oper.
Taxes c
t. .Pevenue,
>
Revenue,^
Paid.^
1909,. ,183.824.7^6 $11.5^9,443 $1,140,000
1|9C
Other
^
£
tnxojM. Rentals,,
$967,024 $3,817,213 $7,589,254
Chicago Consolidated Traction Co.—Plan.—The reorgani¬
zation committee, consisting of Charles G.
Dawes, Jv Nr
Wallace, Hans Winterfeldt, Allen B. Forbes, E. K. Bbisot*
Gisfof.Hoover and Andrew Cooke, has adopted a plan of balam«.^surplus, for tLe 5 months in 1969 $3,937,282.—V,.89, p. 1482.
reorganization dated Jan. 1 1910, and will now apply to the
dUtago Bock Island & Pacific R^,—Offieers.-See
City Council for a franchise so that the system may without Rock Island Co. below^Y. 90, pr 108.
!^
;^
further delay be pirt on its feet, both
physically and finan¬
Chicago terminal Transfer Wft.—*Successor.—See Balti¬
cially. The plan provides in brief:
more & Ohio Chicago Terminal RR. above.—V. 90,
p. 108.
Jam.
THE
151910.]
Ry.—Referendum Election Feb. 17.-—
CXty Council on Jan. 10 fixed Feb. 17 as the date for the
Cleveland (Electrie)
The
referendum election on the Tayler ordinance passed on
Dee.
Compare V. 80, p. 1067. / 'V
m.
;
Golor&do Railway, Light * Power
New Bpnde
York a«d
Co., Trinidad, Colo,—
Offered.—Walstoh H. Brown A Brothers, New
Soston, are offering at 92% and interest, with
50% bonus in stock, the new first mortgage sinking fund
5% 40-year gold bonds dated Feb. 1 1910 and due Feb. 1
1950/without option of earlier redemption. Interest F. & A.
at Central Trust Co., N. Y., trustee.
Denominations $500
and $1,000.
A circular reports:
"Tin* *rA. r- >y i
Capitalization. i..
•
,
Bonds—First 5s due 1950: authorized, $5,000,000: in treasury,
$5*000,000; outstanding
—$2,000,000
Common stock authorized and Issued (par $100 per share).
5,000,000
;The.bonds are secured by a first mortgage on all the property, rights
a ad franchises of the company, organized as successor of the Southern
Colorado Power & Railway Go. (V. 90, p. 111).; The most Important
feature of the business is the manufacture and sale of electrie power to the
Colorado Fuel & Iron Co., Victor Fuel Co. and other large users of power
In the immediate vicinity of Trinidad, Colo
Also owns and operates the
street railway, 20 H miles, electric light, gas and electric power business
in and about Trinidad, serving a population of about 41,800.
The coal¬
mine owners are desirous that the, company increase its plant to a capacity
that Win ehable them to contract for the additional power they require.
The nine franchises are without burdensome restrictions and are either
perpetrial hi run lor fifty years* except that two minor franchises for gas
electrie light expire m 1950 and 1928 respectively,arid can be renewed.
The company Is buying coal at $1 35 per ton, hauling it from the mines on
Its owri triad, find it also owns 200 acres of coal land which Is held In reserve.
ana
Sinking1 fund beginning with the year 1915, Of $50,000 annually, for
purchase of bonds at not over 105 and Interest.
The company has just completed the addition to its electric machinery
to enable It to Increase Its electric power output from 1,500 to 2,000 h. p.,
when it was partially put out of service by fire June 5 1909.
At that time
the company was earning at the rate of $101,000 net per annum.
By
March 1, with $1,400,000 bonds issued and with the total machinery In¬
stalled forthe 2,000 h. p., the company will be earnihg at the rate of
$150,000 net pm* annum. With the extensions which will be installed and.
In Operation by May 1 next, the generating capacity of the plant will be In¬
creased to 4,690 B. p.
As soon as.the foregoing installation Is completed
the
company will Issue another $1,000,000 of bonds for the purpose of in¬
creasing Its output of power to 12,755 h. p.
Estimated Annual Earnings with Capacity of Plant Increased to 4,690 h. p.
MV t"i and 12,755 A V„ respectively. > ^
Mi?
u:
4,690h.,p. 12.755 fi.p.;
,
a; 4,69Qh.p. 12,735*.p.
$840,8321 Bond Interest.*,$100,000 $150,000
460,4161 Balance, surplus 138,616
310,416
^
.
Gross .....M— $440,551
Net, after taxes. 238.616
Repairs to equipment and new rails, $220,000; payments of obligations
heretofore contracted, $66,000; purchase of supplies and receivers’ exce to be used as directed by the Court.
jnses, $100,000; balance
Coi
Compare
per
V. 88» p< 1687.
Eastern Ohio Traction Co., Cleveland.—Sale Feb. 5 1910.^
The Cleveland A Chagrin Falls division is advertised to be
sold under foreclosure at the company’s office itt Cleveland
on Feb. 5.
The property has been appraised at $203,500
and cannot be sold for less than two-thirds of that Amount.
Compare V. 88* p. 685; V. 89, p. 1541.—~V. 89, p* 1596.
Fitchburg EE.—New Stock.—Of the 5,500 shares of new
stock sold at auction on Jan. 12 at prices ranging from
127% to 133%, 3,755 shares were purchased by a syndicate
including Moors A Cabot, Wm. A Read A; Co., Hornblower
& Weeks and Bond & Goodwin, all of whom are offering the
stoek at 130 flat, to net 3.85%.—V. 90, p. 109.
Geneva Corning & Southern EE.—Purchase of Additional
Stock.—See New York Central & Hudson River RR. below.
Yi 89, p* 286.{k . m; i1
Grand Trunk Ey.—New Officers .—The following appoint¬
were effective Jan. 7:
E. H. Fitzhugh, 1st Vice-Pres.;
Wm. Wainwright, 2d Vice-Pres.; M. M. Reynolds, 3d VicePres.—V. 89, p. 1667, 1542* M
Illinois Southern Ey.—Securities Transferred to Chicago
Banks.—See items on “Banks, Bankers and Trust Co’s” in
last week’s issue/ page 83.—V. 82, p. 158.
Jamestown Franklin & Clearfield Ey.—Guaranty of Bonds.
—See Lake Shore & Michigan Southern Ry. below.—V. 89,
p. 1223. • .i- >’
■.
.•/. M- /
ments
City Southern Ry.—Bond Offering.—Sufcro Bros.
Co., 44 Pine St., N/ Y., are offering at 103 and interest,
yielding 4.85% on the investment, a block of the refunding
and improvement mortgage 5% gold bonds dated July 1
1909, which cover the entire property, subject only to the
first mortgage 3% bonds.
A circular calls attention to
these striking comparisons:
^ '•&? >
•
Kansas
A
i
In 1907 the company earned over five times the total Interest on the
$10,000,000 of these bonds now outstanding; over 3 X times In 1908, a
on Preferred.—A dividend of
yne of
1909. depression,
Jear
30 severe
.>
y ,-v':? and
In the fiscal year ended
!Vzs over four times
J?*■<•*.
The “margin of Safety” for bonds Of the Karisas City Southern Is greater
%% bas been declared on the $10,000,000 6% non-cum. than.'any
of She other roads named below:
^ ^ > » f h i i t ,.
< ;
pref. stock, payable Feb. 4 to holders of record Dec. 31. The
Reports for 1909.
) - K.C.So. L.AN. IU.Cent. C* AO. MJL.AT.
P;d. of net Income consumed k
'
'
*
‘
only previous distribution was 1%% Aug. 2 1909.—V. 89,
46.34
79. ft ^
by fixed chges. A rentals-41.32
62.80
60.58
Cuba EE.—Second Dividend
>
.
I
.
-
t
_
.
^
Delaware* EB.—Lease—Dividend of 70% and Cash,
Dividend of 20% ProposedM~The directors on Jan. 10 ordered
that meetings of the stockholders be Called to decide whether
the road shall be leased for a long term to the Philadelphia
Baltimore A Washington RR. Co./ and whether the stock
shall be increased so that simultaneously with the making of
the lease a stock dividend of 70% may be paid and the
necessary action be taken to pay an additional dividend of
20% in cash. It will be 30 days or so before the final vote
of the stockholders can be taken upoh this matter. Charles
Fearon A Co., Philadelphia, took the lead in urging the
distribution of a part of the company's surplus. Some
of the minority stockholders think that they should receive
80% stock distribution. •
Report.—For year ending Oct. 31:
an
Net 4’
Gross a
Other
Interest,
Dies.
Balance,
Earnings. Earnings Income. Rents,Ac.
(8%).; Surplus.
1908-09.......$2.932,253 $670,563 $43,501 $223,232 $238,978 $251,854
Fiscal
,
Year—
208,215 > 238,978
219,244
1907-08*ua^i^2,658.576 633,493 42,944
From the surplus as above there was deducted $200,000 yearly, which
was transferred to the extraordinary expenditure fund.—V. 88, p. 563.
“Margin of safety” for bds.58.69
55.66
47.20 •
39.42 r 30.07;
Comparison of the Returns per Mile—Surplus per Mile after Fixed Charges.
Gross.
Op. Exp.
Net.
$4,157
;
Fixed Ch. Surp. Fr’t (tons).
$7,596
1,074,660
638,910
968,788
applied in part to the payment
July 1 1909 of $5,100,000 collateral notes, and the balance Is being expended
In the reduction of grades, additional terminal facilities,^ballasting, new
rail,' Ac., which thq officers State will materially lnonase the earning
power of the road.
The company pays 4% .per annum on $21,000,000
pref. stock, selling St $71 a share, and has outstanding $30,000,000 common
stoek, sellings at aboutt $43 aishare; the equity in market value behind
these bond8i8 over $27,800,000.
A traffic agreement with the Southern
Pacific and Union Pacific systems was made in February* 1909, foaming a
direct north and south connection between the Union Pacific at Kansas
City and the Southern Pacific at Beaumont, Tex., and Lake Charles, La.
Kansas City Sou._.$10,606
$6,469
9,742
Atcb. T. A 3. F6-._
0,274
Loulsv. & Nashv___ 10,340
6,744 *
The proceeds of these bonds were
3,468
1,383
3,596
1,718
$2,541
3.085
1,878
t
(\fr
a
' it '
Ot
Shore ft Michigan Southern By.—Other Income In¬
creased.—See Pitts. A Lake Erie RR. below:?
to
Issue
Bonds.^The
company
applied
to
Application
has
the Public Service Commission/ Second District/ for permis¬
sion to issue the remaining $15,000,000 of the $50,000,000
-V. 89. p. 1542.
.
authorized amount of the 4%rbonds. o|:;!906, t<y retire the
$1,5,000,000 5% notes luaturing Feb. J., and also to guarantee
DelawkiV & Hudson Co.—Listed.—The New York Stock $11,000,000 bpnds of the Jamestown Franklin A Clearfield
Exchange has listed the $7,165,000 “first and refunding” Ry. received in pajnnent of ^advances for construction and
mortgage 4% bonds recently purchased And sold by Kuhn, improvements.—V. 89, p. 1223,
Loeb'& Co. and the First National Bank
(Y. 90, p. 54),
making the total amount listed $20,704,000.
Earnings.—For the 10 months ending Oct. 31 1909:
Railroad Operations—
Operating revenue
Operatihg expenses
Less taxes
...
Operating Income
V1
Coal A Sales Dept.—
$15,928,713 Gross receipts
:
9,629,512 Gross expenses.
'
350,000 Less taxes.-w.-,.
,
.
$5,948,201
Total operating Income, railroad
Other income, all departments
Net coal & sales dept..
and coal departments
fi..
Total Income
Interest and rentals
ifet
,M
S"M
$10,805,534
.
.
10,255,591
$286,943
$6,236,144
1,323,449
$3,888,006
—v.90;pt54.
Mvi;
Fiscal
Passenger
Year. ? Receipts.
1908-09 .3956,888
1
Denver ft Northwestern By.-—Dividend.—This company,
which controls the Denver City Tramway, paid on Jan. 10
a third consecutive quarterly dividend of 2% On its $6,000,000 stock, or at the rate of 8% a year, the first dividend at
that rate having been paid in July last,
Prior to that,dis¬
tributions were at the rateof 6% per annum .—V. 85, pv 1143 ;
Detroit Toledo ft Dronton Ky^-Ovdr 85 % of GMvral 48
Other
Income.
$114,578
L 128,053
265,000
$7,561,593
3,673,587
Income
Lehigh Valley Transit Oo.—Report.—For
Nov. 30:
.
u,.
year
' ‘ :Ap.
.
Total ?
Income,
Net
Earnings,
$1,071,461 $523,290
477,386
7,038.625
-
.
Fixed
Charges.
$416,646
412,086
ending
!i
:
Balance;
Surplus.
$106,644
65,300
-Sr'MHU'
Louisville (Ky.V; Ry.-piV ew Bond Issue .—The directors,
it is stated/ will bn. Jan, 19‘ call a flirting of the shareholders
to authorize an! issue of $20,000,000' consolidated mortgage
5% bbh<fei Of which $8,000,000 %ill bb rb»6rved to retire the
underlying bonds at maturity and the remainder for improvenicints and additions.
“Kotiisville Courier-Jotir.r*X‘i The
A*
-
-■
w
^
..
.....
nal';’ says: to
'<
*'
•\ jCx;
of th6
hew bonds will
thfi/iiew
will, be sold
in the riOxt month Oriso to take unsopje lndebtedness Incurred in connection
with the purchase of the Louisville & Eastern and the financing of the
Shelbyville branch.—V. 88, p. 686, 823.
*
i ^
mail m?;
.
•
•
It is understood that about $1,000,000
i
Louisville,EkshviHoJ RR;—Tii4rfdee.iri Other Income.—
A
Lonis
RVf bdlW.—Y, 90; p. 110.
Lynchburg, (^a*) 'Trie^oh; &' XJght Co,'^Change in Control.
i
Deposited.—The committee' of holder* of general lien and
—Sec
Am^loaiji/fty^ 0o, above.—V. 86, p, 1529. /
divisional first mortgage 4% gold bonds; Otto T. Bannard,
See
NashViIl&
ChatlP.
Bt.
Chairman, announces that more thkn’ 85% ‘of’the'above
bonds has been deposited' With it> and Jto ort|eT'tb give the
undeposited bonds an opportunity to participate, the' time
for? making deposits fhas6 been1 extended W aW includ&hg;
Janv^ig^OlO^after which? date
no
bonds will be received}
shall impose. Ti
Judge R* Wv Tayler^at Toiedo’oi^Jhni lPaoqtiieseedinthe
Michigan granting authority
to thereoeivere to selh$500,000 firet llen receivers’ certificates
at
pan $4/000,‘ less a commission of 2%%. The proceeds
order, of, the federal .Court of-
will be used
as
follows:
1910 and due July 1 1913, being patt of ah authorized isetie
J of $5,OOQ ;00G# i/The iwite^\are issued: chiefly :tri Tetire *3,500/000 4% notes maturing July M910m PAn *1,000// Interest
j Jbftmss Trust^Cy CWd <Mldny Trust Co.,
ani
artrseduwd tty deporit of tlWcto of the
the notes, lndudmg
to
a
companies.—V. 90, p.
of
!«(■ jinlsith
Bofetdn ^ Northern
more
re than tb
of the twd su
one 01
25%
168
THE CHRONICLE
Metropolitan Street Ry., New York.—Semi-Annual State¬
on Thursday issued a statement show¬
ing results for the six months ending Dec. 31:
F.
ment.—The receivers
Gross
Net
Other
Interest,
Balance,
SixMos.
Earnings.
Earnings.
Income.
Taxes, Ac.
Surplus.
1909
-$6,631,623 $2,247,702 $230,546
$1,942,084
$536,164
1908
6,721,213
944,814
253,266
def. 897,537
2,095,617
The statement Includes the results of operation of the Central Park
North & East River RR. from July 1 to Aug. 5 1908 and of the Second Ave.
RR. from July 1 to Nov. 12 1908.
Operating expenses Include all expendi¬
tures for rehabilitation of the physical property; also an estimated amount
for unsettled claims for injuries and damages.
Interest charges as auove
do not Include Interest on obligations which have beed d faulted.—V.
90,
p. 110.
Ohattanooga & St. Louis Ry.—Dividend In¬
creased.—This
controlled by the
company,
Nashville RR., has declared
a
Louisville
&
semi-annual dividend of 3%
on the $10,000,000
capital stock, payable Feb. 1 to stock¬
holders of record Jan. 21, comparing with
2^£% paid Aug. 2
last.
This increases the annual rate from
5% to 6%, as
in 1907-08.—V. 89, p. 718.
New Orleans Mobile ft Chicago RR.—Directors.—This
company, successor of the Mobile Jackson & Kansas City
RR. Co., announces the election of the
following:
Directors.—Chas. K. Beekman, L. S. Berg, Brayton Ives, George R.
Sheldon, Frederic E. Fried and R. W. K. Anderson of New York; John
McLeod, Philadelphia, Pa.; Richard B. Scandrett, Pittsburgh, Pa.; Wm. C.
Sproul, Chester, Pa.; S. Wexler, New Orleans, La., and Alex. McDonald.
Cincinnati,
Ohio.
Officers: Brayton Ives, Chairman of the Board; L. S.
Berg, President
W. F. Owen, Vice-Pres, and Gen. Mgr.; Geo. W.
Crary, Sec. and Treas., and
H. C. Snyder, Asst. Sec. and Treas.
Executive offices, 49 Wall St.,
New York.—V. 89, p. 1668, 1542.
New Mexico Central
RR.—Receivership.—A
A.
LXXXX.
Authorized $1,500,000;
Detroit Trust Co., trustee. Par
deductions.
A circular says:
outstanding $800,000.
$l,000c*, free from tax
The bonds offered ($300,000) are
part of an outstanding Issue of $800,000
made to meet construction expenses; the
Valley Engineering Co., which
completed the construction of the road, owns
tne remaining $500,000 and
proposes to hold the same for Investment.
The unissued $700,000 bonds
can be Issued only under careful
restrictions for extensions and Improve¬
ments, and with the consent of the holders of the
majority of the outstanding
bonds, and also of the mortgage trustee.
A first mortgage on all present
and future acquired
property.
The company was Incorporated under the laws
of Michigan on Aug. 20
1908.
It Is the successor by
,
Nashville
&
[VOL.
purchase of all the property and franchises
Detroit Flint & Saginaw Ry. Co., and it has con¬
operates an interurban trolley system, the main line,
29.63 miles in length,
extending from Flint (population 25,000) to Saginaw
(pop. over 60,000), the centre of the Mich, coal
Industry, with branch a
5.35 miles to the
village of Frankenmuth. Connects with the Detroit
United Ry., Flint division, for Detroit, 68
miles, and with the Saginaw
Valley Traction Co. for Bay City, 14 miles. The line Is located In one of
the most progressive sections of the State.
Territory largely agricultural,
and the line runs through the villages of
Bridgeport, Birch Run, Clio and
Mt. Morris.
formerly
owned by the
structed and
now
All of the franchises owned in tne various
municipalities
except Flint and Saginaw are In
perpetuity. In Saginaw the company has
terminal agreement with the Saginaw
Valley Traction Co. and in Flint
franchises granted by the City Council.
The sinking fund, it Is estimated,
will provide for the retirement of
$1,300,000 of the issue; the trustee must
invest the fund by purchase of the bonds in the
open market at not to ex¬
ceed 103 and interest, or, falling this, in securities
designated as legal for
Michigan savings banks.
a
Earns. 8 Mos. end. Oct. 31 ’09—Gross
$115,153; Op. ex. $51,945; Net $63,209.
1909. Mar.
April.
May.
June.
July.
Aug.
Oct.
Sept.
Gross $8,812
$9,135 $12,115 $12,829 $16,698 $18,916 $18,229 $18,419
Net__
4,070
4,320
6,370
7,209
10,192
10,666 10,421
9,961
The earnings for the year ending March 1 1910 are
calculated as not less
than $170,000, with net earnings of
$85,000 and a surplus of $45,000 over
and above the interest on the first
mortgage bonds now outstanding.
—V. 87, p. 678.
St. Louis Brownsville ft Mexico
Ry.—New $25,000,000
Mortgage—Reduction of Stock to $500,000.—This company,
C. C. Murphy of Pittsburgh, was
all or substantially all of whose
capital stock was taken over
last week by the St. Louis & San Francisco
Judge McFie. Compare V. 89, p. 1069.
RR., has called
New York Central & Hudson River RR.—Debentures a shareholders’ meeting for Mar. 10 to vote on
authorizing:
(1) A new mortgage on all Its property and franchises to secure
Authorized.—The Public Service Commission, Second Dis¬
not
exceeding $25,000,000 bonds, to provide “for constructing,
trict, on Jan. 13 authorized the company to issue $5,000,000 Improving and operating the railway of said company, and tocompleting.
secure the
4% debenture bonds of 1934 in payment for $5,000,000 first payment of debts contracted for such purposes."
(2) The cancellation of outstanding stock to such extent as will
make
preferred stock of the Geneva Corning & Southern RR.— the total outstanding stockfnot to exceed $500,000 and to take the
requisite
states that at Santa Fe
on
press
Jan. 10 the company’s
report
Treasurer,
appointed receiver by
V. 90, p. 54.
action to substitute bonds for the stock so canceled.
(On June 30 1908
the stock authorized was $3,850,000;
out’g, $1,221,500.)—V.
89, p. 1543.
Philadelphia Co. of Pittsburgh.—Listed.—The New York
St. Louis ft San Francisco RR.—Removal
of Office.—The
Stock Exchange has authorized to be listed the
$2,760,000
company’s
office in this city has been moved from 115
additional common stock recently offered to the stockholders
Broadway to the Empire Building, 71 Broadway (10th
and convertible debenture holders at
par (V. 89, p. 1545),
floor).
on notice of payment in
full, making the total amount to be
New Mortgage on Controlled
Property.—See St. Louis
listed $36,000,000.
Brownsville & Mexico Ry. above.—V.
The proceeds of the stock are to be used to
pay
serial 6% gold notes dated July 1 1908, all of which $2,350,000 of 10-year
will become due or be
called for redemption on June 1
1910,
$150,000 serial 5% gold notes
dated April 1 1905 and maturing April and
1 1910 and for extensions and im¬
provements and other purposes.—V. 89, p. 1545.
■Pittsburgh ft Lake Erie RR.—Extra Dividend.—This
com¬
pany, controlled
by the Lake Shore & Michigan Southern by
ownership of $7,500,150 of the $14,999,850 stock, has de¬
clared a semi-annual dividend of 5% and an extra dividend
of 40%, payable Feb. 1 to stockholders of record
Jan. 26,
comparing with 5% paid August last.
’86 to ’91.
Percent
6
yearly
Dividend Record.
*92 to ’06.
1907.
1908.
10 yearly
11
12
1909.
10
Feb. 1 1910.
2H&20ext.
New Stock.—Stockholders of record Jan. 26 will
be per¬
mitted to subscribe at par, $50 a
share, on or before Feb. 9
for $6,000,000 (120,000 shares) of new stock to the
extent
of 40% of their respective
holdings, payable between Feb. 1
and Feb. 16.—V. 88, p. 559.
Railway ft Light Securities Go., Boston.—Initial
Dividend
of 2% on Common.—This
holding company, organized
Stone & Webster, has declared an initial dividend of by
2%
on its $600,000 of common
stock, payable Feb. 1 to stock¬
holders of record Jan. 15.*—Y. 89, p.
345.
Roanoke (Va.) Traction ft Light Go.—Sale.—See Ameri¬
can
Rys. Co. above.—V. 88,
p.
376.
Rock Island Go.—New President, &c.—The
following an¬
nouncement was made on
Thursday of changes of officers
of the company and of the
Chicago Rock Island & Pacific Ry.:
Roberts Walker, formerly Assistant General Counsel
of the Chicago
Rock Island & Pacific Ry. Co., has been elected a
director and President
of the Rock Island Co., succeeding Richard A.
Jackson, resigned. Mr.
Walker has also been elected a member of the board
of directors, Chairman
of the executive committee and General Counsel of
the Chicago Rock Island
and Padflo Ry.
As Chairman of the latter company he succeeds
D. G.
Reid, resigned. The office of Vloe-Chalrman of the executive
committee
of the Chicago Rock Island & Pacific
Railway Co. has been abolished.
Ths office was
formerly held by Richard A. Jackson. Mr. Reid remains
as a director of the Chicago Rock Island &
Pacific Railway Co. and of the
Rock Island Co.
Mr. Walker has not been elected Chairman of
the finance
committee,
as was
reported.
See also item under
“Banks, Bankers and Trust Com¬
another page.
New Interests.—F. S. Pearson, who with his
associates
controls the Rio de Janeiro
Tramway, Light & Power Co.,
the Mexico Tramways and Mexican
Light & Power Co., and
who some months ago, under title of the Mexico
& North
Western, took over Col. W. C. Greene’s lumber and railroad
properties, formerly known as the Sierra Madre Land &
Lumber Co., and the Chihuahua & Pacific RR.
Co., has, it is
understood, acquired a large block of pref. stock (some say
20%) of the Rock Island Co. of N. J., and will work in har¬
mony with the Moore interests, which virtually control that
company.—V. 89, p. 1484.
P-Saginaw ft Flint Electric Ry.—Offering.—Brown Bros. &
Co,, New York, and George M. West & Co., Detroit, are
offering at 94^ and interest, yielding 5.40%, the unsold
portion of a block of $300,000 first mortgage 30-year 5%
gold bonds, dated 1908 and due Aug. 1 1938. Interest
panies”
on
89, p. 1669.
Seaboard Air Line Ry.—New Equipment Trusts.—The
new
issue of $1,380,000
equipment trust 5% gold notes, referred
to last week, are series L, dated Dec. 15 1909 and
due in
20 semi-annual installments of $69,000 each on Dec.
15
from 1910 to 1919; par $1,000.
Interest payable June 15
and Dec. 15 at N. Y. Trust Co., N. Y.
City, trustee. The
issue was given along with $184,209 cash to Blair & Co.
in payment for the
following new equipment,
total cost of $1,564,209 and deliverable
acquired at
early in 1910.
a
Fifteen 10-wheel passenger locomotives; 5
switching locomotives; 1,000
ventilated box cars of 60,000-lbs.
capacity; 25 stock cars; 15 express, bag¬
gage and passenger cars; one self-propelling pile-driver; two 60-ton
steam
wrecking cranes and one Lldgerwood unloader.—V. 90, p.
lll.|
Southern Pacific.—New Officers.—See Union Pacific RR.
Rumors.—According to current rumors the Union Pacific,
which through the Oregon Short Line has for some
years
owned approximately 45% of the
company’s stock, has
added considerably to its holdings by recent
purchases in
the open market, with, a view to
obtaining an actual ma¬
jority and guarding against any future contingencies which
may
arise.—V. 89, p. 1598.
Southern
Ry.—New'lOeneral Manager.—E. H. Chapman,.
Manager, has been promoted to the position of General
Manager, with headquarters in Washington, D. C., effective
Jan. 15 1910.
Mr. Chapman succeeds Charles H. Ackert,
who resigned last week ln»
order to go to Chicago as Vice-President In charge of
maintenance and opera¬
tion on four of the Hawley-Yoakum
roads, namely the Chicago & Alton,
the Toledo St. Louis &l western, the Iowa Central
and the Minneapolis
St. Louis.—V. 89. p. 1598, 1543.
Texas ft New Orleans RR.—New President.—William
Mahl, Vice-President of the Union Pacific RR., has been
elected President and director,
succeeding the late E. H.
Harriman.—V. 89, p. 1669.
Third Avenue RR., New York.—Plan.—The
committee
of holders of 4% consols, consisting of James N.
Adrian Iselin, Edmund D. Randolph, Mortimer L.Wallace,
Schiff,
James Timpson and Harry Bronner (Franklin L.
Babcock,
Secretary, 54 Wall St., N. Y.), has adopted a plan of re¬
organization dated Dec. 2 1909. The plan will become bind¬
ing upon all the depositing bondholders unless within 30 daysafter Jan. 29 1910 one-third in
amount of the certificate
holders shall file with the depositary written notice of
their
dissent.
Further deposits of the bonds will be
received
without penalty at the Central Trust Co. on or before Feb.
18.
Abstract of Plan of Reorganization Dated Dec. 2 1909.
The consolidated mortgage covered the property of the 3d
Ave. RR. Co
and the control of the 42d St. Manhattanvllle & St. Nicholas
Ave. Ry. Co
Dry Dock East Broadway & Battery RR. Co., Klngsbridge
Ry. Co., Union
Ry. Co., Southern Boulevard Co., Bronx Traction Co., Westchester Elec¬
tric RR. Co., Yonkers RR. Co., the Tarrytown White
Plains & Mamaroneck
RR. Co. A decree for the foreclosure of the mortgage has
been entered, and
the Tarrytown White Plains & Mamaroneck RR. has been
foreclosed at a
8rice
which It ofis expected
will realize
a considerable
surplus applicable on
tie securities
that corporation
held
by the trustee.
Proceedings
for
sale
of
whose
securities
are oovered
Sending
the
the
other
properties
y such mortgage.
are-
s
The Metropolitan St.
Ry. Co. claims to be the holder of notes in different
amounts of most of the above railroads. These notes are being contested
by your committee, and If it Is successful In such contention, the
complete
rehabilitation of all the aforesaid roads may be
accomplished without sale*
JAN. 15
Wheeling & Lake Erie RR.—Reorganization Plan—Con¬
-and, if not, the roads will be sold, but will doubtless be acquired by your
•committee under obligations held by the trustees existing as prior liens
to the stock of such roads.
A claim Is also being prosecuted for the cash
received by the Met. St. Ry. receivers from the 8d Ave. RR. Co. be¬
tween Sept. 24 1907 and the appointment of our receiver, Jan. 12 1908,
which may result in a recovery of upwards of $300,000.
Another claim
Bridge has
two
materially under the receivership, the cost of accidents and insurance has
materially decreased and the general rehabilitation of the property enables
it to be operated upon a percentage of gross receipts which is now nearly
(see “Annual
le modifications,
Eected
to be announced
in aboutas atoweek.
Subject
to possidetails,
principally
the published
will be operated as an independent line, the control
by the Wabash RR. to be relinquished.
The new company will have an
authorized issue of $60,000,000 4% bonds, which will be a first mortgage
on the Pittsburgh Terminal properties and a junior lien on the Wheeling &
the franchise
advised by the receiver that the results shown
basis for calculating the net earnings of the entire
system, excluding the Westchester oompantes. Deducting therefrom an
■allowance for depreciation and renewals, and the franchise tax, which, in
the opinion of the receiver, is sufficient, there would remain as the net
earnings of the system applicable to the payment of interest on the new
securities about $1,300,000, and this the receiver expects will be increased
•when the Westchester companies are put in order.
Outstanding Liabilities Aggregating $54,028,737
$16,000,000).
(Stock Additional,
5s_$5,000,000|Dry Dock gen. 5s..
$950,000
40,381,173
5% certificates of indebt 1,100,000
250,000
Unpaid int. to Jan.l ’10 1,507,5641 So. Boul. RR. 1st 5s
Union Ry. Co. 1st 5s
500,000
2,000,000 (Westchester El. RR. 1st 5s
42d St. 1st 6s, due 1910._ 1,200,000 Yonkers RR. 1st 5s.
1,000,000
2d mortgage incomes.
• 140,000 [
Third Ave. RR. 1st M.
First consol 4s._
.
$1,600,000, less $1,460,000 held by trustee; remainder, $140,000.
Cash Requirements to Complete Thorough Reorganization of Entire Property
$7,200,000. as Estimated by the Receiver.
*
Third Avenue—
Receiver’s ctfs. & indebt.$2,500,000
Franchise taxes
1,500,000
1,000,000
Renewal of tracks
Fees of receiver, counsel,
Other Companies
Union Ry
Yonkers
$150,000
450,000
Ry
260,000
75,000
75,000
Westchester
Southern Boulevard
Bronx Traction
&c., claims purch.,wk.cap. 1,190,000
Securities of Proposed New Company.
First refunding mtge. 50-year 4% gold bonds dated Jan. 1 1910, redeemable
at 105 and interest on and after Jan. 1 1915 on three months’ notice.
Total authorized issue, $40,000,000, viz.:
To holders of consol 4s, being 15% of principal and 10% In
payment of unpaid interest
$9,390,000
To stockholders on payment of $45 per share
6,400,000
Reserved for underlying bonds and for future extensions and improve¬
ments under proper restrictions and subject to approval of Public
Capital stock, total authorized issue, $16,590,000, viz.:
To holders of present consol 4s, being 25% of principal
To present stockholders on payment of $45 per share
Basis of Exchange of Old for New Securities.
$9,390,000
7,200,000
Each $1,000 Par Value of Deposited
1st Ref.
Ad). M.
Bonds and Stocks, viz.:
M. 4s.
Income 5s.
Stock.
Consolidated mtge. 4% gold bonds
$250
$600
$250
Consol, mtge. 4% gold bonds, "stamped ctfs.”. 230
600
250
Com. stock on payment of $450 per $1,000 par v. 400
—
450
Non-interest bearing scrip will be issued for fractional amounts of bonds
convertible when presented in amounts of $500 into bonds bearing interest
from Jan. 1 1910, and scrip for fractions of shares will be issued convertible
when presented in amounts of $100 into shares ranking for dividends from
Jan. 1 1910.
All stockholders who shall within the period that may be fixed by public
notice deposit their present stock, and pay the sum of $45 on each share
of $100 at such times as the committee may prescribe (not exceeding, how¬
ever, $15 in any one calendar month), shall be entitled to receive when the
reorganization is completed $45 in the new stock
refunding bonds. Compare V. 90, p. 54.
Toledo & Ohio Central Ry.—Car
and $40 in the aforesaid
Trust Certificates Offered.
—William Salomon & Co., New York and Chicago, and G. H.
Walker & Co. of St. Louis are offering at prices to yield 4%%
car trust 4% gold
certificates, series jB, authorized issue
$1,200,000, par $l,000c*, dated Jan. 1 1910. Interest
J. & J.
Principal due in semi-annual installments of $60,000
each from July 1 1910 to Jan. 1 1920, inclusive.
A cir¬
cular says:
These certificates will be Issued for the purchase of 1,000 steel under¬
frame, drop-bottom coal cars now being built by the Ralston Steel Car Co.
And 500 box cars under construction by the Pullman Company.
The rail¬
way will make a cash payment of $300,240 towards the cost, representing
a margin of 25% over the par value of these certificates.
The equipment
will be leased to the railway under an agreement which will provide that
$itle thereto shall be vested In the Provident Life & Trust Co. of Philadel¬
phia, as trustee, until all these certificates shall have been paid. In addi¬
tion, an unconditional guaranty of principal and interest by the Toledo &
•Ohio Central Ry.Co. will be endorsedon each certificate.—V. 89, p.913, 471.
RR.—New
Lake Erie
properties, the existing Wheeling & Lake Erie
Michigan Ry.—Securities Transferred to
Chicago Banks.—See items on “Banks, Bankers and Trust
Co's" in last week’s issue, page 83.—Y. 81, p. 842.
&
Wisconsin
Officers.—Gordon Campbell, Vice-
York Railways.—New
Manager, has been elected President,
to succeed W. F. Bay Stewart, and Lewis C. Mayer, Chief
Engineer, was elected to succeed Mr. Campbell. Mr.
Stewart will continue to be a member of the board of direc¬
tors and a member of the executive committee.—Y. 89, p. 412.
President and General
INDUSTRIAL, GAS AND MISCELLANEOUS.
Montreal.—
of Canadian
properties, in which Cramp, Mitchell & Shober of
Amalgamated Asbestos Corporation, Ltd.,
Earnings, &c.—This important consolidation
asbestos
Philadelphia
are
largely interested, reports:
Directors.—Jacob
H.
Schiff
Gross earnings
Net profits
Interest on outstanding
Months Ended Oct. SI 1909.
$655,0731Other income......
$35,291
$219,7491Sur. app. to bond lnt__.— $255,040
bonds for five months to Nov. 1 1909-.,*$156,250
- _
i-.- $98,790
■
for future delivery.
$3,426,515
General Balance Sheet Oct. 31 1909.
Liabilities ($17,859,232).
V '
Assets ($17,859,232)
Property account
$16,882,899 Common stock outst’g-.$8,125,000
Pref. 7% cum. stock out- 1,875,000
Inventories (asbestos at
contract sales prices).
460,654 1st M. 30-yr. 5% bonds,
due June 1 1939
7,500,000
Other working and trad¬
ing assets.
^—
143,053 Accr’d liabilities, Includ¬
Cash-.217,556
ing bond Interest
163,088
Surplus for stock
...
Unfilled orders on hand Oct. 31 1909
_
Acc’ts & bills receivableFuture production
and
Income
:
Reserve for depreciation
36,727 Profit and loss surplus..
-
1282.1349.
American Cement
Co.—Report.—For years ending Nov. 30:
Net of
Int., &c., Int.,Ac.,
oper. cos.Am.Cem.Co. Sub.Cos.
Fiscal
Year—
1908-09.
1907-08
1905-07
1905-06
$165,227
268,186
481,810
420,183
$64,240
65,575
67,975;
84,471
$71,811
73,324
82,796
48,053
American
IQWabash-Pittsburgh Terminal Ry.—Reorganization Plan.—
Consolidation.—See Wheeling & Lake Erie RR. below.
—Y. 88, p. 750.
.
„
Balance,
surplus.
def. $51,824
sur.
$9,286
sur. 191,039
SUr. 147,659
Pipe Manufacturing Co.—Called Bonds.—Forty-
5% collateral trust certificates, series “B,” due Feb. 1
1929, of $1,000 each and 10 certificates of $500 each have
been drawn for redemption on Feb. 1 at 1023^ and.interest
at the office of the Girard Trust Co., Philadelphia, Pa.,
trustee.
See statement of company in V. 88, p. 377.
American Pneumatic Service
months ending Nov. 30:
listing is given at length on other pages, together with the
.balance sheet of Oct. 31 and income account for the ten
months ended Oct. 31.—V. 89, p. 848, 529.
Dividends
Paid.
(4%) $81,000
(6%) 120,000
(7%) 140,000
(7%) 140,000
1«RQ
SO
spectively.
Railways Investment Go.—Bonds Listed on New
12,118
98,790
Officers.—President, E. B. Greenshlelds, and Vice-President, Hon. Robt:
Montreal; Vice-President, Howard E. Mitchell, Philadelphia
Secretary and Treasurer, R. P. Doucet, 263 St. James St.. Montreal; Gen¬
eral Manager, R. H. Martin, 220 Broadway, New York.
Directors.—Hugh A. Allan, Montreal; Hon. James M. Beck, New. York;
Harry A. Berwlnd, Philadelphia; Geo. D. Crabbs, Cincinnati; Theodore W.
Cramp. Philadelphia; E. B. Greenshlelds, Montreal; Robt. T. Hopper,
Montreal; H. Malcolm Hubbard, London, Eng.; Hon. Robt. Maekay,
Montreal; Howard Ellery Mitchell, Philadelphia; R. H. Martin, New York;
H. H. Melville, Boston; Richard V. Mattlson, Ambler, Pa.; Thos. McDougall, Quebec: William McMaster, Montreal.—V. 88, p. 687; V. 89, p. 1225,
as a director and member of the executive
•committees of the Union and Southern Pacific companies,
Otto H. Kahn, of Kuhn, Loeb & Co., and his son, Mortimer
L. Schiff, were on Thursday elected to succeed him in those
offices in the Union and Southern Pacific companies, re¬
York Stock Exchange.—The first lien collateral trust sinking
iund 5% bonds, Pittsburgh isshe, due 1926, were listed this
week on the New York Stock Evchange.
The official state¬
ment made to the Stock Exchange in connection with the
-
Mackay,
having resigned
Otto H. Kahn, Mortimer L. Schiff and William G. Rockefeller were
•elected directors and members of the executive committee of the Oregon
Messrs. Kahn, Schiff and Rockefeller, with R. L. Gerry, were
Short Line.
also elected directors of the Oregon RR. & Navigation Co.
Otto H. Kahn,
Mortimer L. Schiff, Henry C. Frick, William Rockefeller and William G.
Rockefeller were also elected as members of the executive committee of
the last-named company, the number of which was increased from five to
seven, the other two members being
President Robert S. Lovett and
William Mahl.—V. 89, p. 1349.
85,236
118,343 Current liabilities
five
United
bond issues re¬
maining undisturbed, and an authorized issue of $40,000,000 preferred and
$50,000,000 common stock, which will be held in a voting trust. Of the
new bonds, $15,000,000 are to be underwritten at 80 by a syndicate headed
by Kuhn, Loeb & Co. and Blair & Co., which also will take in addition
$1,500,000 new preferred and $3,750,000 new common stock, paying a
total of $13,300,000 cash for the bonds and stock.
Holders of all three classes of Wheeling <Ss Lake Erie stock will be called
upon to pay 25% in cash and receive in exchange 25% In new preferred
stock,
in addition Wheeling & Lake Erie first preferred stock will get
70% in new common, second preferred will get 65% in new common and
the common stock 60% in new common.
Wabash-Pittsburgh Terminal first mortgage bondholders, it is stated;
will receive 70% in new preferred and 30% in new common stock, with the
right in addition to subscribe at par to 16% In new preferred stock, which
will carry with it a bonus of 40% In new common.
Wabash-Pittsburgh
Terminal second mortgage bondholders are to pay 25% cash and receive
25% in new preferred and 60% in new common stock.
The Wabash Railroad Co., which has a claim for $7,500,000 against the
Wabash-Pittsburgh Terminal, will receive $5,000,000 cash in settlement
of the claim.
The $8,000,000 notes of the Wheeling & Lake Erie, which
matured Aug. 1 1908 and which were taken up by a syndicate formed by
Kuhn. Loeb & Co., will be paid off at par and interest.—V. 89, p. 1544.
Statement for Five
—Will be Exchanged for—
Pacific
The new company
$24,210,000
Service Commission)
Adjustment mortgage 50-year 5% income gold bonds dated Jan. 1 1910
(cumulative after 3 years).
Holders to have full voting powers until
full interest, including accumulations, shall have been paid for five con¬
secutive years.
Bonds redeemable at par and Int. In whole, but not
In part, at any time on three months’ notice.
Total au.$22,536,000,viz
To holders of present consol 4s, being 60% of principal
$22,536,000
Union
pronounced to be substantially correct.
statements are
it does include certain extraordinary expenses in the cost of opera¬
tion.
The committee is
•may be accepted as a fair
reorganization of the company and
Wabash-Pittsburgh Terminal Ry., providing also for
their consolidation as one company, is now being arranged
by Kuhn, Loeb & Co. and Blair & Co. in connection with the
security-holders' committees of both companies and is exthe
new
sub-station has been built, new cars have been purchased, three new fran¬
chises have been obtained for extensions and one for the Queens Borough
Bridge is now being negotiated. The gross net earnings have increased
normal.
The statement of earnings for the year ending Sept. 30
Reports" on a preceding page) excludes from consideration
solidation.—The plan of
decided
for $100,000 paid for damages by the Third Avenue
been
in our favor m the Appellate Division, but no account Is taken of these
claims in the following calculations.
A large amount of money has been expended upon the properties, a
tax, but
169
THE CHRONICLE
1910.]
Net profits
Interest and charges
Co.—Earnings.—For eight
1909.
..$327,266
159,808
167,458
Balance, surplus
1908.
Increase.
$203,220
140,727
62,493
$124,046
19,081
104,965
—V. 89, p. 1412.
American Power A Light Co.—Acquisition.—We learn
that the Portland (Ore.) Gas & Coke Co., which recently took
over the property of the Portland Gas Co. (most of the lat¬
ter’s stock having been acquired at $130 a share, par $100),
is a subsidiary of the American Power & Light Co., which in
turn is controlled by the Electric Bond & Share Co. of New
York. See full statements regarding the Portland Gas &
Coke Co. below.
Consolidated Statement of All Controlled Properties for Cal. Year 1909
=■*4
Gross earnings
—
—
-
(December Partly Estimated).
$1,606,0941 Fixed chrages
—
—.
$211,769
—
Pittsburgh, Kan,, and Astoria (Ore.) Electric Oo.—V. 69, p. 1484,
170
THE CHRONICLE
American Sugar
meeting on
annual
Atkina
o£ Boston
Refining Oo.—New Directors.—At the
Wednesday* Samuel Carr and Edwin F.
were added to the board “in view of the
preponderating holdings of stock by New England share¬
holders,” increasing the board from 9 to 11 members; and
E. S. Marston, President of the Farmers7 Loan & Trust Co.
of New York, and Samuel G,> Hooker of
Philadelphia were
elected directors to succeed Charles H. Senff and John
Mayer,
who, resigned.
s. ‘
',; f -,
,,: ■
Date of Annual Meeting.—The annual
meeting will after
this year be held on the second
Wednesday in March, at
which time the company will be able to submit its financial
statement for the fiscal year ending Dec. 31.
Official Statement.—-See “Annual Reports” on a preced¬
ing page.—V. 89, p. 1670.
Canadian Oar A Foundry Co., Ltd., Montreal.—Initial
Dividend on Preferred.—The company has declared an initial
dividend of l%% on its $5,000,000 Of preferred stock, paya¬
ble Jan. 15 to stockholders of record Dec. 31. See V.
89,
py 1283.
Conrad Land A Water Oo.,
Montana.—Carey Act—Bonds
Offered.—The Trowbridge & Niver Co., Chicago, New York,
Boston and San Francisco, are
offering at 101 and interest,
by advertisement on another page, the unsold portion of
$1,500,000 first mortgage 6% bonds. A circular says:
.
,
V,
Bonds dated Dec. 17 1909.
Principal and interest (J. & J.) payable at
Amet. Trust & Savings Bank, Chicago (the trustee), or
Guaranty Trust
Co., New York, at option of holder. Denominations, $1,000,
$500 and
$100., Due serially on Jan. 1 from 1912 to 1924, $62,500
yearly in 1912
and 1913, $112,500 in 1914, $125,000
yearly in 1915 to 1923 and $137,500
in 1924i„- Bonds maturing Jan. 1 1918 and thereafter
are callable at 105
and interest on or after Jan. 1 1911. ?
•
i *Th8
company’s irrigation district is located in Teton County, Mont., just
east of the main range of the
Rocky Mountains, and only 69 miles from
Great Falls.
Of the 172,000 acres of land irrigable from the canals and
laterals, there is, after deducting townsites, &c., a full 160,000 acres of
choice land specially adapted to general
farming and dairying. The topo¬
graphy is Ideal for both irrigation and drainage.
p- These bonds are
a first mortgage lien on the
company’s property, con¬
sisting of water rights entitling it to first storage appropriations
from
Birch and Dupuyer creeks
(rising in the Rocky Mountains, 40 miles
west of Valier), for 275,000 acre feet of water
per annum, also on its
canals and reservoirs, including Lake Frances,
18 miles in circumference,
storage capacity 170,000 acre feet, and Laughlln and|Dry Fork
reservoirs
(not yet completed), combined storage
capacity (est.) 70,000 acre feet.
The combined storage capacity of
over 10 H billion cubic feet of water will
be worth at least $4,200,000.
Under the <~’arev Act, the property owners
along the canal acquire ownership of the irrigation
system through the pur¬
chase of stock at $40 per share (price
being fixed by the State) $3 payable
In cash and the balance in 14
equal annual Installments. The deferred
payments, drawing 6% Interest, secured by first
mortgage liens on the
lands, together with the stock certificates, are
deposited with the trustee as
additional security to the bondholder.
The trust deed limits the bonded
debt to $25 an acre, and there are $37 of
Carey Act contract liens, or 1st
mortgages, deposited for each $25 of bonds outstanding, while
land, when irrigated, is conservatively estimated as worth fromthe farm
$75 to
$100 per acre.
,
The cost of
000,000. The
construction, as estimated by the State Engineer, was $3,capital stock, $250,000, is all owned by Messrs. WIthee &
Cargill of La Crosse, Wis., who have thus far expended
$1,500,000 in the
development of the system. This issue is to complete
the reservoirs,
canals and laterals; 75% of the construction
acres, covering the first land opening, is now necessray to irrigate 70,000
completed, and this acreage
will be irrigated for season of 1910.
There are two lively towns in this dis¬
trict, Conrad, on the Great Northern Ry., and Valier,
on the Montana
Western Ry.
Eastern Steel 0o., Pottsville, Pa.—Bonds
Offered—Status.
—Gilman & Glucas, investment
securities, 34 Pine St., New
York, and First National Bank Bldg., New Haven,
Conn.,
offering for sale first mortgage 5% gold bonds dated 1906
and due Aug. 1 1931, but redeemable
by lot at 110 and int.
after Aug. 1 1916 upon six months’ notice.
Authorized,
$3,000,000; outstanding, $2,000,000. Par $1,000 (c*).
Knickerbocker Trust Co., trustee. Int. F. & A.
Sinking
fund not less than $60,000
per annum, commencing Aug. 1
1909.
A circular
are
says
in brief:
The company’s coal (anthracite) comes from
a distance of
only 2 miles,
and its scrap iron from the
neighboring railroad plants and collieries. Tne
manufactures
steel for all
Slant
purposes
and bridge work
of the most up-to-date
in structural
Pennsylvania.
It consists of 50
real
! one
and
acres of
estate.- 3 soaking pits, 3 structural mills, 4 50-ton
basic furnaces and
bridge shop with a capacity of 7,500 tons, 5
locomotives, 8 freight care,
24 electric cranes, 6sc.
Annual
125,000 tons blooms and billets
and 190.900 tons finished rolledcapacity,
material.
The company was formed in 1852 and in 1902
was acquired by its present
owners.
Preferred
a
stock authorized, $4,700,000;
outstanding, $2,200,000;
authorized, $4,700,000; outstanding, $3,650,000.
The
property is carried on the books at $8,000,000 cash.
The quick assets amount
to $3,000,000.
The company has recently
acquired
iron
ore
interests in
the Moa district of Cuba
amounting to 11,000 acres, and in addition leases
1,200 acres, together estimated at over
43,000,000
tons
of
iron
ore.
The earnings for the past four
years have averaged 2 H times the
Interest
•n the bonds, and it is
estimated that for the calendar
1909 the net
earnings, after payment of all fixed charges, will amount year
to over $400,000.
common
H. B.
stock
Livingston, W. D. Sloane, A. Turnbull
Additions.—The “Iron Age”
The Eastern Steel Co. is
on
and H. P.
Whitney.
buHding two additional open-hearth furnaces of
80 tons’ capacity each and is
equipping its plant to roll 24-in. beams. The
improvements now under way will cost about $300,000. The
u
on
ingot
ca¬
the completion of
Electnc Bond A Share Co.—Acquisition.—See
American
Light Co. above.—V. 89, p. 922.
Power &
Hudson County (N. J.) Water Co.—Decision
.—Vice-Chan¬
cellor Walker at Trenton
yesterday handed down a
decision
in the suit brought by the
Attorney-General, restraining the
company from laying pipes under the Kill von Kull to
carry
waiter from driven wells to Staten Island. Compare V.
87,
p. 1481.
* Indiana A
Michigan Electric Go.,
Elkhart, South Bend,
Ac., Indiana.—Bonds Offered.—Earnings.—H. L. Crawford
<fe Co., New York, having placed over
nine-tenths of the
$3,554,000 outstanding first mortgage 5s, due Aug. 1
1957,
are offering the remainder at
and interest.
The com¬
pany has five water-power developments with an aggregate
capacity of 20,000 b. p., relayed by steam power of 4,100 h.p.
Earnings of Indiana
lxxxx.
A
Michigan Electric Co.,Wears ending Jan. 31 (3 Mos.
1909-10 Estimated).
‘
1909-10. 1908-09. 1907-08. 1906-07. 1905-06.
Gross
1904-0$.
^mings..$575,000 $491,776 $418,901 $334,871 $260,729 $186,514
; atlng exp.)
402,000 324,316 276,275
-Not
i
-
-i
..
...
,
,
„
—„
reported
Interest charge
on $3,554,000 first mortgage 5s,
$177,700; on $900,000
mortgage 6s, $54,000. Stock is $1,915,000.
No
declared.,
The second mortgage 6s, were Issued, cover dividend yet
part:1 coat of
the hydro-electric
development at Berrien Springs, Mich., completed Ip
second
.
vQ$p 1908^r^ri^r doubling ^the company’s output capacity.. Compare
Inter-Continental Rubber Co.—Dividend
Preferred.■—
This company, incorporated in Dec.
1906, paid on Jan. 10
a dividend of
7% on its $4,200,000 7% cumulative
on
pref .stock.
This is the first dividend since Oct.
1908, when 3H% was paid, and It
leaves about 10H% cumulative dividends
unpaid.—V. 89,
p. 1225.
International Harvester Go., Chicago.—Dividends id
Begin
on Common Stock—Stock Dividend
of 33 1-3% Recommended
—Cash Rate for 1910 to be 4%,
Payable 1% Quarterly.—At a
meeting of the directors held yesterday, the Comptroller
presented a preliminary statement for the year 1909, which
shows that, after setting aside reserves of various
kinds ip
excess of those set aside in
1908, the net earnings for 1909
exceeded $14,000,000.
The company now has
outstanding $60,000,000 of pre¬
ferred and $60,000,000 of common stock.
The directors
recommended to the stockholders
in common stock, represented
an increase of
$20,000,000
by surplus invested in the
business during the past seven
years, the same to be dis¬
tributed ratably, as a stock
dividend, to the holders of the
present $60,000,000 common stock.
The directors further recommended the
setting aside out
of last year’s earnings of the sum of
$3,200,000,
as a 4% divi¬
dend on the $80,000,000 of common
stock, payable 1% each
quarter, beginning with April 15 1910.
Formal action
on
this dividend matter will be taken at the
board’s
on Jan. 29, at which time notice as to
meeting for dividend purposes
regular
closing
Keystone Telephone Oo. of Philadelphia.—Semi-Annual
Statement.—The company has issued a
supplement to the
annual report covering the 6 months’
period to Dec. 31 1909.
Six
Gross
Oper.Exp.
Net
Interest
Balance,
Months— Earnings.
A Taxes.
Earnings.
A Renewals.
Surplus.
1909 .-....-$551,052
$274,084
$276,968
$183,949
$93,019
1908—
528,237
261,778
266,459
206,978
59,481
The supplemental report states that the
has
increased
company’s
traffic
some 25% over the same
period of 1908, while the surplus earnings aver all
charges show an increase of over 55 %.
Expenditures for additional under¬
ground cables, lines and equipment in the calendar year amounted to
ap¬
proximately $200,000.—V. 89,
p.
998.
Lackawanna Steel Co.—Semi-Annual Statement.—The
combined earnings of the company and subsidiaries for the
six months ending Dec. 31 1909 were:
Six Months—
Income from mfg.
and operating,
after deducting
ail
expenses,
1909.
$
1908.
1909.
$
Six Months—
Mines exhaustion
funds
Deprec’n 8s ac-
■
ordin’y repairs
& maint., and
int. on bonds
A fixed charges
of subsid. cos.3,110,959 1,283,249
Propor. of
on
earns,
investments
in cos. not
ann.
con¬
Inc.
147,271
74,779
456,093
Tot. deduct’n. 1,189,392
859,488
Net earnings.2.082.487
Deduct int. for
6 mos. on L.
S. ;Co. bonds
and notes
trolled and of
oth.
160,920
45,462
Surplus
cit
Total
—3,271,879 1,328,711
Deduct—
:.
Sink. fds. on bds.
of sub. cos
378,682
328,615
—*V. 88, p. 1200.
1908.
$
$
cruing renewals 663,439
or
813,750
sur.l
—
469,226
•;
«*»
l
•>
750,000
defi¬
.
Unfilled
orders
at close of per-.
lods
—
—
.
,268,737def280,776
467,533
205,236
Lake Superior Corporation.—Earnings.—The “Philadel¬
phia News Bureau” of Jan. 12 reports earnings of subsidiary
companies for the five months ending Nov. 30 as gross,
$3,938,200, an increase of $1,064,000 over the same period
in 1908; net, $729,400 (an increase of
$316,000), available
for interest on the $10,000,000 Lake Superior 5% first mort¬
gage bonds and depreciation and renewals.—V. 89, p. 1071.
National Enameling A Stamping Co.—Listed.—TheJNew
York Stock Exchange has listed the $3,500,000
refunding
first mortgage real estate sinking fund 20-year 5% bonds of
1909 offered by Lehman Bros, and
Goldman, Sachs & Co.
in June last (V. 88, p. 1502).
The proceeds of the bonds have been used
Jan. 6 said:
pacity will be increased to about 24,000 tons a month
the new works early In 1910.—V.
88, p. 1004.
[Yol.
as
follows:
$775,000
par value
municipal bonds of City of New York have been purchased at a cost of ap¬
proximately $780,000, of which $525,000 has been deposited with the Cen¬
tral Trust Co. of New York to secure the payment of the
remaining $500,000
first mortgage 5% bonds maturing Sept. 1 1910 and 1911.
The floating
debt has been reduced by about $2,250,,000, and the balance has been
qsed
for additional working capital and for Increasing the
liquid assets of the
company.;
' {1
4. :;t
-
-
i'V.'. 7\’
‘7 ,/)'. =.,■->
Earnings.—For the 5 months ending Nov. 30 1909:
Net
profits, after charging
Interest on bonded debt... $99,164
& bad debts..$498,122 DIv. on pref. stock at 7%._ 249,275
Balance, surplus
149*681
—V. 89, p. 467.
off op. exp.
NationalJSugar Refining Co.—New Directors.—Nathaniel
Tooker, J. H.Dick and Thomas A. Howell have been elected
directors, succeeding Arthur* Donner, Geo. H. Frasier and
John Mayer.—V, 82, p. 104
Nevada Consolidated Copper Co.—Protest.—President
James Phillips Jr. has issued a circular to shareholders
pro¬
testing against the proposed absorption of the company by
the Utah Copper Co. on a basis of 2%
shares of Nevada Con¬
solidated for one share of Utah. (See Utah
Copper Co.
V. 89,
p.[1674.)—V, 89,|p, 1070.
±L
'The net Income for December 1909 is stated as $160,961.
Accounts
Niagara Lockport & Ontario Power Go.—Earnings. -Fot payable
Dec. 31 1909, $928,923, against bills and accounts payable, $1,November and 5 months ending Nov. 30:
-1755,827, in 1908; total surplus as per balance sheet, $4,786,948 (after trans~
Cost of
Gross
Income.
Earns.
November$86.151
$44,222
$41,929
$25,431
5 months.409,501
—V. 89, p. 1415.
201,333
Sale of
Power.
n%
127,594
208,168
\/:,! A
QT
ltd,
on 1st
ai
Bal.,
jur
Mtg. Bds.
&ur.
$1,696
$20,833
$6,294
8,072
104,167
31,499
Net,,.
Power.
Period
Covered.
'
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v
*
v.^\ *
Northwestern Teast Co., Chicago.—Extra Dividend Again
12%.—The usual quarterly dividend of 3% and an extra
dividend of 12% will be paid on Feb. 1 on the $3,000,000
stock, par $100»Y' The extra dividend in 1909 was also 12%,
but in 1908 only 8% and in 1907 5%.
i ;;k.
'
New Officers.—Grant Ridgway has been elected Treasurer
and Thomas R. Hair Secretary, both to succeed C. B. Hill.
—V. 88, p.
,
f,
Ontario Power Go. of
.
,;.f
Niagara
Palis .-^Earnings.—For
November and 5 months ending Nov. 30 (including the On¬
tario Transmission Co.):
,«
Period Sale of
Covered.
Power.
Novembers 59,615
5 months.275,039
—V. 89, p.-
ipM,
’ Gov't
Rental.
$4,244
20,392
t.-.
Gross
Income.
Net
$55,3tl
Earns.
$45,546
254,638
201,539
„vV,
j..
Other
Income,
$435
2,672
Interest
on Bds.
$27,297
135,990
Balance,
Surp.
$18,684
68,221
,
Pacific Ooast Go.—Dividend Increased.—The company has
declared quarterly dividends
second preferred stock and
of \%% each on the $4,000,000
the $7,Q00,000 common stock,
payable Feb. |r to stockholders of record Jan. 21, increasing
the annual rate for both issues from 5% to 6%.
Common
1st preferred
%
2d preferred
%
—V. 89. p. 1088. ‘
1907.
$5
5
1908.
4 H
5
6
6
AH
: 6'
_
Waltham Watch
Cp.—-New Stock.—Boston advices stated
shortly to offer the $500,000 of
pref. stock now in the treasury to both common and pref.
stockholders for subscription at par ($100) to the extent of
one new share for each 23 shares now held, making
entire
authorized capital $5*000,000 6% cumulative preferred and
$7,000,000 common outstanding.-—Y. 88, p. 948. T v
Warren Bros. Go., Bithulithic Pavements, Boston.—
Dividends.—The directors on or about Dec. 20 declared on
the 6% 1st pref. stock a regular quarterly dividend of 1H%
and’, in lieu of accumulated dividends, an extra 10% divi¬
dend, payable either in cash or Is £ pref., making the entire
$1,50Q,000 of 1st pref. outstanding. ; ;
; ‘ ; C , ^4 ^
that the
company
proposes
~
■
There is also outstanding $100,000 7% cum. 2d pref. and $2,000,000
oonimbnrpar df all shares $50* The new stock was Issuable Dec. 24 to
subscribing shareholders of record DeOj. 16, and it participated in the regular
dividend paid Jan. l.
For the current fiscal year tjhe company will prob¬
ably show net earnings of about $40(1,000.—-y. 85, p. 528.
(IoW&) Water Works Go.—Safe.—See Waterloo,
Waterloo
Iowa, In “State and City” Department.
!
r
of the “ Hand-Book of Securities ,f
compiled by the publishers of the “Commercial & Financial
Chronicle,” will be ready Monday. The book contains in
a small compass very full information concerning the various
railroads and the leading umustrials whose securities Are
dealt in on the New York, Boston, Philadelphia, Baltimore,
Chicago and Pittsburgh exchanges. It shows their earpipgs,
dividends, &c., for a series of years, present fixed chargee,
-—The January 1910 issue
Dividend Record (1905-1910)
1905.* V 1906.
_% 5H
■
' 6
ferrifig to nprofif Xfiitloss account the surplus of the Century Investing Co.,
$157,053, ‘and4he surplus Of Century Realty Co., $506,534), against $3.m,659.—YvS9^ P. 1416. *
1909.
AH
5
Feb. 1910.
1H
1H
AH
1H
Sacramento
Valley Irrigation Go., Oalifomia.—Guaranteed
Offered.—J. S. <fe W. S. Kuhn Inc., Pittsburgh, New
York, Chicago and Philadelphia; A. G. Edwards & Sons,
St. Louis and New York, and Alfred Mestre & Co., New York and the amount of the different issues of bonds outstanding,
Philadelphia, are offering at par and interest; by adver¬ their rates of Interest; &c. There is also ^iyen the iapnthly
apd’
tisement on another page, the unsold portion of a block range of stocks and ponds to Jan. 1 1910, together with h
(fi f2,000,000 of the first mortgage 6% gold bonds uncondi¬ yearly range for four years.
tionally guaranteed, both principal and interest, by the
—Albert Frank & Co., the advertising agents; are moving
American Water Works <fc Guaranty Co., of Pittsburgh, Pa.,
to-day from 25 Broad St. to 26 and 28 Beaver St., in the
which owns a controlling interest in the company.
Bonds new fireproof building of The Stock Quotation Telegraph Co.
dated June l 1909, due serially, beginning Dec. 1 1910.
De¬ They are now better equipped than ever before to render
nominations $500 and $1,000 (c*), interchangeable.
In¬ efficient service to their patrons. Their relations with the
terest J. & D. at Trust Company of America, New York City, extensive
organization for collecting and disseminating news
trustee.
A circular
Bonds
says
in part:
acres
owners
,
-
’
Sears-Roebuck Ooy—Dividend increased.—A quarterly div¬
idend of 1$£% has been declared on the $30,000,000 common
stock, payable Feb. 15 to folders of record Feb. 1, comparing
with 1J^% paid in November last and 1% in each of the
preceding qtikfters Of 1909.—Y. 89‘, p. 1286J /
United Oigar Manufacturers Go.—Dividend Increased.—
The directors have declared a quarterly dividend of 13^2%
on the $15,000,000 of common stock, payable Feb. 1 to
stockholders of record Jan. 27. This increases the regular
annual rate to 6%, contrasting with 4% in 1909 and an ex¬
tra 1% last November! Compare V. 88, p. 105.
New Directors—Voting Trust.—James Sclilffer, Maurice Wertheim and
three
Gf. L. Storm have been elected directors to succeed Chas. Hlrschhorn, E. A.
Kerbs and M. K. Mack, who have disposed of their holdings and resigned
as directors.,
President Jacob Wertheim has, it is stated, obtained control
or virtual control of the company, and a very large portion but not
a ma¬
jority of the stock has been placed in a 5-.years’ voting trust.—V. 89, p. 925,
United Dry Goods Companies.—Listed.—The
Stock Exchange has listed $500,000 additional
lative preferred stock, which has been subscribed
1
New York
7% cumu¬
for by em¬
ployees at par and paid for in full, with authority to add from
time to time prior to July 1 1910 $500,000 additional pre¬
ferred stock as subscribed and paid for by employees, making
the total amount authorized to be listed $11,000,000.—
Improvement Co.—Earnings.—
31:
1909. 1
$1,077,749
$882,092
$195,657
Quarterly
dividends,...^_t—..(4«%)363,663
MsbAwww—I IllftX Jll.liwl—I—
(4)323,256
40,407
Surplus
$714,086
$558,836
$155,250
Net Income.,..
“The New York News Bureau” enable them to
unique position in the control of publicity of a
desirable nature to advertisers.
through tb
extending its irrigation System, which will ultimately supply 250,000 acres,
tot which its water rights are more than sufficient.
,
The authorized bond issue is $15,000,000, of Which not over $10,000,000
can be outstanding at one time.
The $2,000,000 now offered matures
serially on Dec. 1 from 1910 to 1920, yiz.: $100,000 in 1910; $150,000 in
1911; $150,000 In 1912; >100.009 in 1913; $120,000 in 1914; $230,000 in
1915; $240,000 in 1916; $240,000 in 1917; $170,000 in 1918; $100,000 in
1919 and $400,000 In 1920.
The bonds are secured by a first lien against
the canal system, the valuable water rights acquired from the United States,
and from the State of California, and purchase money mortgages deposited
tHth the trustee at a ratio of 125% of mortgages for 100% of bonds issued.
No bonds can be issued until purchase-money mortgages are so deposited
.with the trustee,.,^
*,• y\
•*
■,--U
■
Subsequent bonds may be Issued on the above conservative basis in such
maturities up to Dec.' 1 1930 as the directors may determine. ~
The minimum price at which this company i3 selling Its land is $125 per
acre, with perpetual water rights; initial payment $15, the balance in ten
annual deferred payments, secured by 8% purchase-money mortgages
having first liens upon the several divisions of land and- the water rights
dedicated thereto. N« mortgage can he accepted as security at a rate of
more than lllO an acre, thus permitting a maximum bonded debt of only
$88 per acre.
The market price of developed irrigated land in California
ranges from $300 to $2,500 anjacre.
>
i
w
■■iv
i
The company is engaged in the development by irrigation of rich agri¬
cultural and fruit land ha Glenn and Colusa counties. Cal., in the famous
valley of the Sacramento, a river navigable the year around to a , point
many miles above this company's property.
All crops and fruits native to
the temperate and hub-tropical zones may be grown to the greatest adleraons, apricots and prunes In great
dually. Excellent transportation faclllcentbe of the tract is only 150 miles from
Water is lifted from one to
delivered direct to the mainincorporation see V. 90, p. 56.]
1*'
V. 89, p. 1144.
"*■ ■■
United States Realty &
For 8 months ending Dec.
as
occupy a
known
The com]
1908.
‘
-t ’
Increase.
13
;;
—Swartwout & Appenzellar, members New York Stock
Exchange, have just published a new edition of their Con¬
vertible Bond Wall Card, in design uniform with previous
publications, for banks and investors, with quotations $m
of December 1909.
This Convertible Bond Card contain^
all listed and unlisted issues of convertible bonds, with tubl^i
showing conversion prices and privileges, rates, method of
computing, &c., and is sent to banks and investors on Request;.
—A. B. Turner Company, bankers, New York and Boston,
have compiled a very complete and interesting January cir¬
cular, giving details on about fifty manufacturing, lighting
and electric railway companies./. A compilation of the re¬
sources of New York City and Boston national banks and
trust companies as of Nov. 16 1909, showing changes from
last published statement, is also given. • The circular will
be mailed .upon request*. •': "■ •
f‘f; ri\>
banking house of Wm. A. Read
Co. 25 Nassau
St., New York, is offering to investors on another page
two very choice issues of bonds, namely $>09,{K)9 Chicago
& Eastern Illinois RR^ Co. refunding ahd improveipent gold
4s due July 1 1955 and |IOO,OO0 Queens Borough Gas Al
Electric Co. 5s due July 1:1952, ;
fnese bonds ynll pet the
fuirdetails wifi hegiven
^pon application.';r"v
"V;'rv
buyer 4^% and 5% respectively,
—Rudolph Schalk, Arthur Barnwell Jr., member of the
-
New York Stock
Exchange, Walter Kutzleb and Alexander
Cameron Jr. have organized the firm of Schalk, Barnwell
& Co. at 60 Broadway.
The new firm succeeds to the busi¬
ness of Schalk & Raymond, from which Harold Ni Raymond
has withdrawn.^a /-rr'?
>>
.-i v •v'-.t;
—Lewis B.
bond firm of
Williams, who has been associated with the
Hayden, Miller & Co. of Cleveland since its
organization, was admitted to partnership therein on Jap. 1.
Warren S. Hayden and Otto Miller are the other members
of the firm.
‘
J
(
j
•
-
'
.
>
s
*
*
y
"
i
—Investors interested in
•
.
.
* i1 ‘J
-
'
jl.
■*,■' f
s
.
•
■*
choice selection of
municipal,
county, natural resource and corporation bonds, paying
above the average rates and covering a Wide field, will find
a
in the latest investment circular from the office of D. Arthur
Bowman, Third National Bank Building, St. Louis, Mo.y a
number of valuable and helpful suggestions. The firm has
recently been enlarging its offices, owing to the exigencies of
its growing business.
—-Sydney A. Lawton has been admitted to membership
New York Stock Exchange firm of Wrenn Brothers
24 Broad Street...bb V,:
'.b'!
—The Chicago,bond firm of Bonntag, Decker .& Co.,
has removed its offices from the Woman's Temple to the
Rookery,^suitej739.
t
b ^
in the
& Cp.,
,
,
173
THE CHRONICLE
Is Rttd
[Vol.
ucxxx.
gxrjcxtmjettts.
UNITED RAILWAYS INVESTMENT COMPANY.
OFFICIAL STATEMENT TO NEW YORK STOCK EXCHANGE IN
CONNECTION WITH LISTING THE FIRST
LIEN COLLATERAL TRUST SINKING FUND FIVE PER CENT
COUPON BONDS. PITTSBURGH ISSUE.
which shall not be less than
Jersey City, N. J.f December 14 1909.
sixty days nor more than ninety
Application is hereby made by the United Railways Invest¬ days from the beginning of such
publication.
ment Company for the
within the year prior to the 1st
listing of $18,150,000 par value of
day of May 1912 and
Its Five Per Cent Collateral Trust Sinking Fund Gold
Bonds, annually on or before each successive 1st day of May there¬
numbered from 1 to 18,150, both inclusive, for $1,000 each, after until the
principal and interest of all bonds issued and
secured by the pledge of 484,000 shares of the common
outstanding are fully paid, the Company will pay or caused
Capital Stock of the Philadelphia Company of the par value to be paid to the Trustee an amount of
money in gold
of $50 each, under the terms of a First Lien Collateral Trust coin of
the United States of its
present standard of weight
Agreement, dated the 5th day of April 1906, between said and fineness equal to One Per Cent
of the par value of the
United Railways Investment Company and The New York bonds
issued and outstanding on the 1st
day of
Trust Company, in the City of New York, as
Trustee, which Such money must be applied by the Trustee to theMay 1911.
purchase
Trust Agreement is in substance and in fact a First Mortgage of said
bonds in the
And Deed of Trust of the shares of Common Stock of the
Philadelphia Company above mentioned.
All the said bonds are Coupon Bonds, of the denomination
open market at not more than One
Hundred and Five Per Cent of their
par value.
If bonds
cannot be purchased at 105 in the
open market, then such
amount of bonds as is
required for the sinking fund must
be drawn by lot at 105 and accrued interest
upon like notice,
published in the manner as above provided in case of re¬
demption of bonds. The bonds so purchased or drawn
for the sinking fund shall not be
canceled, but shall be
x>f $1,000 each; are payable on the 1st
day of May 1926, at
the office of The New York Trust
Company, in the City of
New York, and bear interest from the 1st
day of May 1906,
at the rate of Five Per Cent per annum,
payable semi¬
annually on the 1st day of November and the 1st day of held by the
Trustee, stamped “Not negotiable, property
May in each year, at the office of said The New York Trust of the Sinking
and all interest accrued thereon
Company, Trustee, or at the office of Guarantee Trust &. shall be collectedFund,”
by the Trustee and invested or applied
Safe Deposit Company,
Philadelphia, at the option of the as other sinking fund moneys are invested; but such bonds
bearer.
They may be registered as to principal only and shall no longer be deemed
to be outstanding except for the
both principal and interest are payable in
gold coin of the purpose of drawing interest for the sinking fund,
nor shall
United States of the present standard of
weight and fineness. they be entitled to share in the proceeds of
any sale of the
The creation and issue of the
bonds, for the purpose of the Common Stock of
acquisition of the Common Capital Stock of the Philadelphia
Company as aforesaid, and the execution and delivery of
said Collateral Trust Agreement were authorized
by the
Stockholders of the Investment
Company at a special
meeting held the 5th day of April 1906, upon the recom¬
mendation of the Board of Directors of the
Company, con¬
tained in resolutions adopted at a
meeting of said Board
held the 4th day of April 1906.
The United Railways Investment
Company is a corporation
organized under the laws of the State of New Jersey, by
Certificate filed with the Secretary of State of New
Jersey
the 18th day of February 1902.
By subsequent amend¬
Incorporation its name was
changed from the “United Railways Investment Company
of San Francisco” to the “United
Railways Investment
Company.”
ment
to
such
Certificate of
the Philadelphia Company pledged and
said Collateral Trust Agreement.
If the Investment
Company shall make default in the
payment of any installment of interest on any of the said
bonds, when and as the same shall become payable as therein
and herein expressed, and such default in the
payment of
such installment of interest shall continue for the
space of
thirty (30) days, or default shall be made in the payment
of the principal of
any of the said bonds when the same
shall become due and payable, whether at
maturity or by
declaration or otherwise; or,
If the Investment Company shall make default in the
observance or performance of any other of the
covenants,
conditions and agreements on the part of the Investment
hypothecated under
Company, its successors or assigns, in the said bonds or in
this Agreement contained, and such default shall continue
for the period of ninety (90) days
after written notice
The present total authorized issue of bonds under said
thereof shall have been given to the Investment
Company
Collateral Trust Agreement is
$20,250,000, of which there by the Trustee; or,
are now issued and
outstanding $18,150,000 of bonds above
If default shall be made in the
payment of the principal
mentioned, all of which have passed beyond the control of or the Interest of
any bond secured by Mortgage or Deed
the Investment Company and into the hands of investors.
of Trust upon or pledge of any
property owned by the
The said bonds so issued were used
by the Investment Philadelphia Company, or owned by any other company of
Company in part payment of the purchase price of 484,000 which the Investment
Company shall own a majority of
shares of the common Capital Stock of the
Philadelphia the Capital Stock, and by reason thereof proceedings shall
Company, forming part of a present total outstanding issue have been instituted for the enforcement of
any such Mort¬
of said stock of 664,800 shares.
The shares of stock so
gage, Deed of Trust or Collateral Agreement; or,
purchased are lodged with The New York Trust
If an order shall be made for the
Company, as
Trustee, under the terms of said Collateral Trust Agreement nent Receiver of the Investment appointment of a perma¬
Company or of the Phila¬
as security for said
$18,150,000 of bonds.
delphia Company, or of the United Railroads of San Francisco,
The remainder of said authorized issue of
bonds, namely, or for the winding up or liquidation of the business or
$2,100,000, are reserved under the terms of said Collateral affairs of either
of said Companies, and such order shall
Trust Agreement for use in the
acquisition by the Investment remain in force for a period of thirty (30) days, or if
corporate
Company of so many of 55,200 unissued shares of the action shall be taken on the
part of either of said Companies
common Capital Stock of the
Philadelphia Company, con¬ for either of the purposes aforesaid;
stituting the remainder of 120,000 shares of increased
Then, and in each and every case of the happening of any
common
Capital Stock of said Company provided for in such event of
default, by notice in writing delivered to the
said Trust Agreement, as the United
Railways Investment Investment Company, in its discretion, the Trustee may,
Company may deem it advisable or expedient, or as, under and
upon the written
any of the provisions of said Trust Agreement, it may be in amount of the bonds request of the holders of a majority
hereby secured and then outstanding,
obligated to acquire. Such stock, when so acquired, is to forthwith the Trustee must,
declare the principal of all said
be pledged with the Trustee as collateral
bonds then outstanding to be due and payable
security
for
the
bonds.
immediately
and upon any such declaration, immediately the same shall
Under the terms of the Collateral Trust
Agreement the become and be due and payable, anything in this Agreement
total amount of bonds
outstanding can at no time exceed or in said bonds to the contrary noth
withstanding.
Seventy-five Per Cent of the total par value of the common
The present authorized Capital Stock of the
Company is:
Capital Stock of the Philadelphia Company pledged there¬
Preferred Stock Five Per
under.
All or any of the bonds
Cent Cumulative
Common Stock
outstanding
.$25,000,000
25,000,000
subject to re¬
Total authorized
demption by the Company at any interest period at their
$50,000,000
face value and Five Per Cent
Of which there is now issued and outstanding:
premium with all interest
accrued and unpaid thereon at the time fixed for
such Preferred Stock
$16,000,000
redemption, and in case of redemption of any part of the Common Stock
20,400,000
issue the bonds so to be redeemed shall be drawn
Total issued and outstanding
by
lot.
$36,400,000
Bonds so redeemed with their
coupons shall be canceled
Of the Capital Stock of the Company so
and not reissued.
outstanding,
Notice of such redemption must be
given $15,000,000 of the Preferred and $19,400,000 of the Common
by advertisement published once a week for four consecu¬ Stock are listed
upon the New York Stock Exchange. The
tive weeks in four daily newspapers
of general circulation, remainder of said outstanding stock,
two published in the City of New
York, one published in Preferred and $1,000,000 of Commonnamely, $1,000,000 of
Stock, has not been
thefCity of Philadelphia, and one published in the City of listed,
being
represented
by
certificates
of special form
Pittsburgh, stating the numbers of bonds to be redeemed intended for
temporary purposes of the Company, and
and the time for the presentation and surrender
thereof, deposited with the New York Trust Company, as Trustee, in
are
JAN. 15 1910.|
THE CHRONICLE
connection with the acquisition by the Company of the
Stanislaus Power Development, intended to furnish the
United Railroads of San Francisco with an adequate and
continuous supply of electric power.
UNITED
RAILWAYS
INVESTMENT
COMPANY.
STATEMENT OF INCOME AND PROFIT AND LOSS
MONTHS ENDED OCTOBER 31 1909.
FOR
TEN
Income—
Dividends on stocks owned
31,560.672 00
Interest on loans, accounts receivable, Ac—
37,892 13
51,598,564 13
Expenses—
Legal
Salaries
Taxes
Transfer Agents’ and Registrars’ fees
Stationery and postage
Directors fees and expenses
Tax on bonds held In Pennsylvania
*
-
Advertising
General
812,692
14,471
4,560
4,157
1,043
1,948
1,291
172
12,875
95
07
00
50
55
12
27
55
38
553,212 3 9
Other Income Charges—
Interest on bonds
Interest on Six Per Cent Notes of 1908
Interest on Dividend Certificates
Interest on loans payable
Interest on United Railroads of San Fran¬
cisco current account
Miscellaneous Interest
47,658 49
12.393 56
12,500 00
51,059,684 96
31,112,897 35
i
Net Income for the period
Profit and loss—surplus at
beginning of
485,666 78
1,089,961 09
year__
Profit and loss—surplus October 31 1909
51,575,627 87
GENERAL BALANCE SHEET OCTOBER 31
1909.
Assets—
Securities owned:
United Railroads of San Francisco Stock:
50,000 shares First Preferred 5100 par
value each.
200,000 shares Preferred, 5100 par
value each.
88,014 shares Common 5100 par value
each.
Philadelphia Company Stock:
484,000 shares Common, 550 par value
each.■
The Railroads A Power Development Com¬
Capital Stock:
55,000 shares 3100 par value each
pany
Other securities
860,926,513 19
262,910 11
I
Total securities owned
Current assets—
Cash on deposit
Notes receivable
San Francisco Ry. A Power Co
San Francisco Electric Railways.
United Railroads of San Francisco Divi¬
dend Warrants Nos. 3 and 4
Suspense account
Interest accrued, not due
Expenses paid In advance
5533,471 36
317,500 00
880,704 23
2,347 48
116,875 00
862,189,350 01
..
—
Liabilities—
shares,
value each..
8100
Common—204,000 shares, 5100
each
par
par
516,000,000 00
value
20,400,000 00
Total Capital Stock
536,400,000 00
Collateral Trust Sinking Fund 5% Gold Bonds
18,150,000 00
Six Per Cent Notes of 1908
3,100,000 00
Preferred Stock Dividend Certificates—
Bearing interest at 6%
5712,500 00
Bearing interest at 5%
..
750,000 00
Total Dividend Certificates
Current liabilities—
Loans payable
United Railroads of San Francisco, current
account
United Railroads of San Francisco, divi¬
dend warrant account
Bond interest due,
coupons not presented.
Interest due on 6% Notes of 1908, pay¬
ment not demanded
Interest accrued, not due..
1,462,500 00
8862,257 50
82,854 50
2,516 50
3,148 26
2,172 11
546,273 27
Total current liabilities
Profit and loss—surplus
Total liabilities
362,189,350 01
Note.—The Company has a contingent liability amounting to 548,544 05
for accounts of San Francisco Railway A Power Company, which It has
guaranteed jointly with United Railroads of San Francisco.
—Hardman & Co. have opened their Chicago branch
office in the rotunda of the Rookery, occupying the spacious
and elegantly equipped rooms formerly the premises of
Gates & Co. and afterwards of Tracy & Co.
J. H. Fall Jr.
will be local manager.
—Shirley C. Morgan, who for several years was manager
of the bond department of Alexander Brown & Sons of Balti¬
more, has become associated with the banking firm of J. S.
Wilson Jr. & Co. of the same city.
—Potter, Choate & Prentice, bankers, National City Bank
Building, 55 Wall Street, this city, have issued a new cir¬
cular of bonds for investment.
Copies will be mailed on
request.
—Max J. Bonn and Walter Bonn have commenced busi¬
as merchants and foreign
bankers under the title of
Bonn & Co. at 62% Old Broad Street, London, E, C., Eng.
ness
foundland 42@44c.
COFFEE on the spot
has been quiet and steady; Rio No. 7,
8%c.; Santos No. 4, 9%@9%c. West India growths have
been quiet but firmer; fair to good Cucuta 10@10%c.
The
speculation in future contracts has been very quiet much of
the time.
The tone has been easier and prices have declined
slightly at times. The European cables have on the whole
been unexpectedly weak, foreign houses have sold here to
some extent and there has been scattered
liquidation for local
and Wall Street account.
Spot interests have been the prin¬
cipal buyers.
Closing prices were as follows:
January
February
March
April
6.70c. May
6.75c. June
6.75c. July
6.80c. August
SUGAR.—Raw has been
6.80c. September
6.85c. October
6.90c. November.
6.90c. December
more
—6.90c.
active and firmer.
6.90c.
6.90c.
6.85c.
Cen¬
trifugal, 96-degrees test, 4.17c.; muscovado, 89-degrees test,
4.67c.; molasses, 89-degrees test, 3.42c. Refined has been
quiet and firmer. Granulated 4.95@5.05c. Teas have
been firm and more active.
Spices have been quiet and firm,
With supplies light.
Wool has been firm and more active.
Hops firm, with a larger demand and stocks decreasing.
PETROLEUM.—Refined has been weaker with crude.
The decline in crude has made consumers purchase refined
on a very small scale.
Barrels 7.90c., bulk 4.40c. and cases
10.30c.
Gasoline has been in moderate demand and steady;
86-degrees, in 100-gallon drums, 18%c. Naphtha has been
quiet and steady; 73@76-degrees, in 100-gallon drums,
16%c. Drums $8 50 extra. Spirits of turpentine has been
fairly active and stronger at 62 %c. Rosin has been quiet
and firmer; common to good strained $4 40.
TOBACCO.—There have been no noteworthy develop¬
ments in the local market for domestic leaf
during the past
week. The trade is largely in a
waiting attitude. Cigar
manufacturers have purchased sparingly, but there is still a
general expectation that the demand will increase con¬
siderably before long. The consumption of cigars last year
was
materially smaller than the normal. Prices for leaf
steady. Sumatra and Havana moderately active and firm.
COPPER has been dull and heavy, with slight changes in
prices. Lake 13 %c., electrolytic 13 %c. and casting 13%@
13%c. Lead has been quiet and steady at 4.70c. Spelter
has been quiet at 6.20c.
Tin has been quiet and easier; spot
32.70c.
Iron has been steady. Trade has been rather
<juiet,
but the indications are believed to
point to more activity in
the not distant future.
At the West the pig iron market has
been more active than
recently. The market for finished
,
1,501,222 14
1,575,627 87
1
supplies light; prime $1 25, No. 1 extra 65@68c.
quiet and firm; Cochin 9%@10%c, and
Olive has been quiet and firm at 75@
85c.
Peanut has been quiet and steady; yellow 62@67c.
Cod has been quiet and steady; domestic 38@40c. and New¬
"
Capital Stock—
Preferred—160,000
apparently expecting another advance. City, raw,
American seed, 77@78c.; boiled 78@79c., Calcutta, rawr
85c.
Cottonseed has been quiet and easier; winter 7.50@8cv
and summer white 7.45@7.99c.
Lard has been quiet and
Ceylon 9%@9%c.
50
00
97
00
#
$12@$13, packet $13@$13 50, family $15 50@$15 90 and
extra India mess $21 50 @$22 50.
Cut meats have been
quiet and steady; pickled hams, regular, light to heavy,
12%@13%c.; pickled ribs, clear, light to heavy, 13@13%e.
Tallow has been quiet and steady; City 6%c.
Stearines have
been dull and easier, though without marked change; oleo
17@I8c. and lard 13%@14c. Butter has been in moderate
demand and firm; creamery extras 34c.
Cheese has been
quiet and firmer; State, f. c., Sept., fancy, 17%c. Eggs
have been dull and firmer; Western firsts 38@39c.
OIL.—Linseed has been firmer, owing to a further rise
in the raw material.
The demand has been active, consum¬
Cocoanut has been
r
Total current assets
Furniture and fixtures
Deferred charges—
Discount on 6% Notes of 1908
.
PORK on the spot has been quiet with prices irregular.
Mess $24@$24 50, clear $25@$27 and family $26@$26 50^
Beef has been firm, with trade moderately active.
Mess
firm, with
18,750 00
192 40
Total assets.
DAILY CLOSING PRICES OF LARD FUTURES IN CHICAGO.
Sat.
Mon.
Tues.
Wed.
Thurs.
Fri.
January delivery
12.60
12.50
12.60
12.72 X 12.77 X 12.72**
May delivery..
12.07X 12.07X 12.10
12.25
12.27X 12.25
July delivery
12.02X 12.02X 12.02X 12.20
12.20
12.20
ers
361,189,423 30
2,516
5,000
1,303
1,970
COMMERCIAL EPITOME.
FridayfNight, Jan. 14, 1910.
Business continues to make its way back to the normal
level.
Cotton speculation has received a salutary check.
Prices of merchandise are generally sustained. The weekly
statement of bank clearings makes a gratifying exhibit and
confidence seems to be gradually increasing.
LARD on the spot has been firm, though without marked
change in prices. Trade has been quiet, but live hogs have
been strong and supplies of product are moderate.
For a
time the movement of live hogs increased noticeably, but of
late it has again fallen off.
Prime Western 13.20c., middle
Western 13.10c. and City 12 %c.
Refined lard has been
quiet, with Continent steady and other kinds easier. Conti¬
nent 13.50c., South America 14.25c. and Brazil in kegs
live-hog situation the dominant factor.
3 59
Proportion of discount on Six Per Cent
Total
%\u Gkmxrarrcial ^iracs.
15.25c.
The speculation in lard futures at the West has
been active.
Prices have shown more or less irregularity, as
there has been heavy liquidation at times.
But the under¬
tone of the market has in the main been firm, with the strong
756,250 00
164,000 00
66,879 32
Notes of 1908
173
materials has been active.
\
vf'Y 5 *■
>
J-si.K 1.^2
THE CHRONICLE
174
COTTON.
Friday Night, Jan. 14 1910.
THE MOVEMENT OF THE CROP as indicated by our
telegrams from the South to-night is given below. For the
week ending this evening the total receipts have reached
159,414 bales, against 167,337 bales last week and 170,789
bales the previous week, making the total receipts since
Sept. 1 1909 5,396,022 bales, against 6,794,358 bales
tor the same period of 1908-09, showing a decrease since
,
On
Jan. 14 at—
New Orleans._
Galveston
Savannah
Charleston
Mobile
Norfolk
New
r
Galveston
5,692
3,878
FOrt Arthur
24,043
7,683
-
-
—
Total.
12,042
62,821
7,818
598
598
42 * 53 2
72
7,856
7,418
7,080
4,618
3,077
1,375
818
1,377
678
88
72
548
366
5,550
2,061
4,378
4,202
1,849
2,080
2,925
33
87
900
364
250
109
195
822
Gulfport
12,483
—
j
Pensacola
Jacksonville, Ac,
Savannah
Brunswick
Charleston
Georgetown
Wilmington
9,483
7,818
.
Fri.
_
New Orleans
—
Thurs.
Wed.
_____
Oorp. Christ!, Ac.
Mobile
Tues.
Mon.
Sat.
2,623
_
4,884
5,550
2,723
18,057
296
448
530
148
1,513
1,079
604
386
1,585
1,372
900
1,610
■
....
Norfolk
480
859
398
64
65
3,428
5,826
Ger¬
many.
2,559
12,264
1,692
Other
Coast¬
wise.
Foreign
5,650
34,721
8,348
11,846
3,666
Leaving
Total.
Stock.'
i4r3
19,767
15,495
94,832
2,371
1,000
11,250
19,902
2,600
11,000
185,396
84,809
108,239
32,086
32,727
15393
165,572
31,606
40,040 162,722
17,198 189,377
28,720 254,648
656,328
737,182
690,569
679
i.'
;
*
1,666
■
4,750
3,500
19,902
York
500
Other ports
500
,7,000
Total 1910.
Total 1909_
Total 1908.*
_
Receipts at—
3,067
20,506
300
1,300
4,000
—
34,073
78,070
88,650
lxxxx,
Shipboard, Not Cleared for—
Great
Britain. France
_
“T
[Yol.
17,015
17,551
45,567
49,421
47,541
64,669
—
....
22,173
29,017
27,242
Speculation in cotton for future delivery has been
very
active at a further sharp decline in prices.
In other words,
the inevitable has come to pass.
A year in which prices,
with little interruption, have been advancing had brought
about an inflated and dangerous speculation. The result
heavy liquidation and
crash in prices amounting of late
Monday’s ginners’ report,
though regarded as superficially bullish, failed to stimulate
the market.
On the contrary, it was followed by enormous
was
to
about $13 50
bale.
a
a
Last
liquidation, apparently very largely by leading operators in
New York, New Orleans and Chicago.
Large trade interests
Boston
were also believed to have sold heavily.
Baltimore
1,233
1,233
Memphis and the
50
25
25
Philadelphia
South generally sold, and also Liverpool. The market was
found to be practically bare of a short interest, except that
TOtal this week 19,212 28,813 38,756 23,336 25.351 23,946 159,414
against spot cotton stored in various parts of the world, so
The following shows the week’s total receipts, the total that when bulls tried to liquidate prices crumbled.
Spinners
fllnce Sept. 1 1909, and the stocks to-night, compared with continued to buy on a very moderate scale and the belief in
the trade is that they will pursue this policy until values
last year:
have a more settled appearance.
Of late contract quotations
1909-10.
1908-09.
Stock.
have on several occasions in a single day declined as much as
Receipts to
60 to 70 points or more.
The effect has been demoralizing
This
Since Sep
This
Since Sep
January 14.
1 1909.
Week.
1 1908.
Week.
1910.
1909.
among speculators.
The aggregate decline within a short
time has been so great that the inevitable effect must be a
Galveston.
62,821 1,923,164 80,271 2,590,567
179,641
130,498
Port Arthur.
7,818
88,271
82,257
8,901
very cautious policy on the part of the mills in buying the
598
Oorp. Christ!, Ac.
27,855
2,876
42,495
actual cotton, while as for speculation it has received a
New Orleans
42,532
786,597 64,336 1,324,891
205,163
310,657
blow from which it is not likely soon to recover*
72
795
Gulfport
8,053
9,052
Large
Mobile
4,884
181,342
9,293
265,513
43,977
65,287
operators may from time to time attempt to mark up prices,
Pensacola
5,550
96,691 10,235
101,922
but the outside public, which consists in the nature of things
616
Jacksonville, Ac_
2,723
32,387
23,935
Savannah
18,057 1,145,538 20,005 1,135,104
110,616 122,255 for the most part of small traders, is smarting under such
Brunswick
900
191,089 12,901
253,139
6,911
20,073
severe losses that it will hesitate to risk a similar
Charleston
1,610
189,633
1,731
150,743
experience.
33,086
17,866
834
175
Georgetown
1,591
the past week selling on stop-loss orders has been a
During
Wilmington
3,428
278,477
8,847
307,823
12,116
9,820
Norfolk..
noteworthy feature; increased margins have been demanded
5,826
383,135 12,924
409,231
35,795
33,963
398
W’port News, Ac.
964
11,158
and a further decline in the stock market has occurred, all of
4,881
New York
164
40
3,742
13,561
168,172
Newp't News, Ac.
;
New York
-
166
*
_
74
_
177
_
-
_
—
-
„
„
251
48
135
398
164
750
'
...
—
—
—
....
.
•
....
Boston
Baltimore
10,638
64,639
2,376
6,456
12,737
3,591
182,078
7,930
24,677
1,455
159,414 5,396,022 236,829 6,794,358
819,050
926,559
750
1,233
5,515
41,864
2,233
50
677
50
__
_
Philadelphia
....
Total
In. order that comparison
Receipts at—
1910.
Galveston
Pt, Arthur, Ac.
New Orleans.
Mobile
1909.
62,821
be made with other
may
1908.
80,271
11,777
64,336
9,293
20,005
12,901
1,906
8,847
12,924
1907.
75,038
1,498
96,138
7,346
26,153
1906.
398
964
10,542
.13,605
4*,429
131,592
9,087
83,894
9,534
35,695
8,487
2,796
11,805
17,737
5,869
23,483
159,414
236,829
242,136
339,479
8,416
42,532
4,884
18,057
—
Savannah
Brunswick
900
Charleston, Ac
Wilmington-.
1,610
3,428
5,826
Norfolk
N'port N., Ac
All others
Total this wk.
431
.
3,684
2,372
11,479
13,999
’
'
years,
1905.
47,657
3,998
40,002
27,334
4,168
14,401
2,468
1,581
3,410
4,577
3,885
‘
_
288
54,081
14,350
1,767
1,520
3,164
8,402
275
103
16,262
8,068
138,799
122,752
Since Sept. l_ 5,396,022 6,794,358 5,637,473 6,722,403
5,499,755 6,344,534
The exports for the week
ending this evening reach
a
total
olr 98,385 bales, of which 53,998 were to Great
Britain,
600 to France and 43,787 to the rest of the Continent.
,
Week ending Jan. 14
1910,
From Sept. 1 1909 to Jan. 14 1910.
Exported to—
Exported to—
Exports
from—
Great
Conti¬
Britain. Ft'nee nent.
Galveston
\
Pott Arthur...
24,288
Corp.Chrte.,Ac.
_
.’jJ
19,538
3,201
....
5,550
New Orleans.
MobUe
Pensacola
20,602 44,890
7,818
7,818
....
'
600
•
275
....
Wilmington...
-
-
-
-
-
2,706 22,844
3,201
5,550
-
•
-
-
-
-
-
-
.
6,778
....
-
7,053
-
....
.
....
....
-
-
-
-
-
-
2,000
Norfolk
2,000
Newport News
New York....
Boston
Baltimore
184
662
....
-
.
-
1,256
1,440
98
400
760
400
300
.
*
Philadelphia..
Portland, Me..
300
-
i
-
-
San Francisco.
Seattle
Tacoma
.
.»
J
-
--
-
.
•
-
1,927
202
202
....
-
Pembina
Detroit
291,919
21,721
37,828
7,258
193,536
68,208
11,820
92,265
4,800
-
-
53,998
.
—
Conti¬
nent.
Total.
629,634 1,535.068
49,866
88.271
13,140
13,140
150,729 574*973
17,914
90,992
22,492
98,738
7*258
82.148
5,496
15,700
359.438
84,555
92,274
153,474
105
84,976 36,491
69,168
14,944
3,780
32,626
635422
158,259
104,094
261,439
4,905
58,643
7,523
24,170
9,598
180,110
76,691
12,727
2,347
12,727
14471
2,347
200
600
200
600
42*894
42,224
*350
14;i71
-
....
....
132,325
51,357
38,418
350
1,927
Portland, Ore.
Total
552.330 353,104
23,007 15,398
-
Gulfport
Savannah
Brunswick....
Charleston
Great
Britain. France.
Total.
....
has
which
downward
.
_
.
c.1.50 on Middling
c_
Basis
0.25 off
1 30 on Strict low. mid
0.60 off
1.10 on Low middling
Middling fair..
Strict good mid
1.05 off
0.66 on Strict good ord
1.75 off
Good middling....0.44 on Good ordinary
Strict
Strict middling
g’d mid. tgd.0.35 on
0.22 on
__
Good mid. tinged.c
Even
Strict mid. tinged..0.15 off
Middling tinged....0.25 off
Strict low.Mld.ting_0.60 off
Low mid. tinged... 1.50 off
Middling stained.. .0.75 off
The official quotation for middling upland cotton in the
New York market each day for the past week has been:
Jan. 8 to Jan. 14—-
Mon.
15.45
Sat.
»
Middling uplands. ww W". ‘m
15.85
Tues.
15.30
Wed*
Thurs.
15.00
14.95
Fri.
14.45
NEW YORK QUOTATIONS FOR 32 YEARS.
14.45
9.80
11.65
.10.70
11.95
7.20
13.80
1910.C
1909.
1908
1907
1906
1905
1904
1903
1902.c
1901
1900
1899
1898
1897.
1896.
8.85 1895...
8.25 1894.c
10.00 1893
7.69 1892
6.06
5.88
7.31
8.19
5.75
8.25 1886.c
9.62 1885
7.56 1884
9.50 1883
10.44 1882.
9.88 1881
10.50 1880
1891
1890
1889
1888
1887.
9.31
-11.06
10.69
10.19
12.00
11.94
—12.88
9.31
9.50 1879
MARKET AND SALES AT NEW YORK.
Futures
Market
Ctosed.
Spot Market
Closed.
Sales of Spot and Contract.
Con-
Con¬
Spot. sum'n. tract.
Quiet,
Quiet,
Quiet,
Quiet,
Quiet,
Friday.... Quiet,
Saturday
Monday..
Tuesday
Wednesday
Thursday
.
_
give us the following amounts of cotton on shipboard, not
cleared, at the ports named. We add similar figures for
of cotton
movement
600 43,787 98,385 1,506,756 734,217 1.703.600
3,944,573
1
the
Fair
Strict mid. fair
—
Total 1908-09. 195.747 48,224 107,340 351,311 2,283,516 693,278
2,304,012 5,280,806
New York.
hastened
prices. The local certificated stock, moreover, is steadily
increasing. The Bombay receipts are still on a large scale.
The belief is widespread and stronger than ever that the next
acreage will be enormous and that under favorable conditions
the next crop will be perhaps the largest ever known.
Not
only will the area be very large under the stimulus of prices
anywhere near the present level, but it is already said that
the purchases of fertilizers for the coming season are on a
big scale. Also many parts of the South have had bountiful
winter rains, according to various reports, and this would
mean that such sections have a good “season” in the soil
which, needless to say, is a decidedly important matter.
Liquidation has been very severe and it is argued that a
temporary rally would not be surprising. But with spinners
buying sparingly and speculation frightened out of the
market by the recent pricking of the bubble, it is believed
that the general trend of prices must be downward until they
reach a point which will encourage buying by the legitimate
cotton interests of the world.
To-day prices fell about $5
a bale on- the active months, due to weakness at the Stock
Exchange, bearish pressure and general liquidation on an
enormous scale.
Spot cotton here has been quiet. Middling
uplands closed at 14.45c., a decline for the week of 115 points.
The rates on and off middling, as established Nov. 18 1908
by the Revision Committee, at which grades other than
middling may be delivered on contract, are as follows:
.
Total.
25 pts. adv._
40 pts. dec.
15 pts. dec.
30 pts. dec
5 pts. dec
50 pts. dec..
_
_
—
Strong
■}
100
Steady
Barely steady
530
—
Weak.....
100
5",200
5,200
350
700
"350
1,050
6,250
7,230
530
....
Weak
Irregular
Total.
350
—
980
—
Jan. 15
THE CHRONICLE
1910.]
FUTURES.—The highest, lowest and closing prices at
New York the past week have been as follows:
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.
Stock at Liverpool
Stock at London
Stock at Manchester
1909.
bales. 1,084,000 1,068,000
5,000
7i ,000
Total Great Britain stock
Stock at Hamburg
Stock at Bremen
Stock at Havre
Stock at Marseilles—
Stock at Barcelona
Stock at Genoa.
Stock at Trieste
Total Continental stocks.-----
10,000
58,000
939,000
13,000
58,000
1,160,000 1,136,000 1,010,000
7,000
15,000
18,000
263,000
399,000
284,000
466,000
321,000
191,000
3,000
4,000
4,000
9,000
37,000
26,000
76,000
25,000
32,000
1,000
3,000
25,000
825,000
804,000
580,000
©©4*MM
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© © © © ©© to ©1 ® 4* *-*
00 00l©to©*-*004*1»1©00©t-*1»4*©©M>-*M00tO©4*©©4*O®
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1907.
790,000
12,000
57,000
859,000
11,000
360,000
216,000
3,000
17,000
121,000
1,000
729,000
Total European stocks
1,985,000 1,940,000 1,590,000 1,588,000
India cotton afloat for Europe...
166,000
109,000
99,000
173,000
Amer. cotton afloat for Europe..
423,893
913,495
902,100
966,100
51,000
56,000
64,000
75,000
Egypt,Brazil,&c.,aflt.fbr Europe.
Stock in Alexandria, Egypt
229,000
296,000
251,000
245,000
Stock In Bombay, India
543,000
335,000
447,000
479,000
Stock in U. S. ports
819,050
926,559
945.417 1.293.206
Stock in U. S. interior towns
771,436
882,872
544,020
677,672
U. S. exports to-day
11,039
31,803
30,951
60,449
Total visible supply
4,999,418 5,490,729 4,937,488 5,493,427
Of the above, totals of American and other descriptions are as follows:
-American—
811,000
bales. 998,000
811,000
Liverpool stock.,..
967,000
Manchester stock.
60,000
44,000
43,000
44,000
Continental stock
783,000, 760,000
502,000
689,000
American afloat for Europe
423,893
913,495
966,100
902,100
U. S. port stocks
926,559
945,417 1.293.206
819,050
U. S. interior stocks
771,436
677,672
882,872
544,020
U. S. exports to-day
60,449
11,039
31,803
30,951
<r
to
©
to
1908.
t&
_________
© M i © ec i
©©©4*©tOlM4*4*CTtOtO*-k©1©00tO4*©14*i-*0ei-‘©Mi-‘a5WM©
stocks, as well as the afloat, are this week’s returns, and
consequently all foreign figures are brought down to Thurs¬
day evening. But to make the total the complete fig¬
ures for to-night (Friday), we add the item of exports
from the United States, including in it the exports of Friday
only.
1910.
tO
MNN
to ©-4-4 0 0coca to
►+
•••;.* •
©Ml*-*
'
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co
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THE VISIBLE SUPPLY OF COTTON to-night, as
made up by cable and telegraph, is as follows. Foreign
January 14—
«
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AT THE INTERIOR TOWNS the movement—that is,
the receipts for the week and since Sept. 1, the shipments
for the week and the stocks to-night, and the same items for
the corresponding period for the previous year—is set out
in detail below.
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The above totals show that the interior stocks have de¬
creased
during the week 22,771 bales and are to-night 111,436
bales less than at the same time last year.
The receipts
at all the towns have been 27,251 bales less than the] same
week last year.
f ;
"
: f
V OVERLAND MOVEMENT FOR THE WEEK 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:
V.
1808 -10January 14—
Shipped—
Via
Via
Via
Via
VIA
Via
Via
-1908-09Since
Week.
Sept 1.
Sinee
Week
St. Louis.
Cairo -U-
Sept. 1.
240,121
14,773
.«r
Rock Island
Louisville
Cincinnati
2,842
17,272
7,693
118,296
12,441
2,175
1,148
1,927
2,388
4,923
1,799
43,405
27,318
2,914
383,513
212,609
13,147
74,295
3,864
99,613
14,873
48,054
30,067
99,457
165,395
-29.876
616,490
49,010
952,242
2,197
51,798
2,754
948
18,791
1,170
23,684
295
560
91.214
28,458
19,079
4,315
4,325
94,253
3,609
138,751
Leaving total net overland*—25,361
522,237
45,401
813,491
•'
Virginia points
other routes, &C-fw
.j
:
i 5
V -t
I
a4 :
.
ii 595
.
Total gross overland
Deduct Shipments—
.
-
-
Total to be deducted.
-
Total American
East Indian, Brazil, Ac.—
Liverpool stock-
-
London stock--.Manchester stock
Continental stock
India afloat for Europe.-.
Egypt. Brazil, &c., afloat
Stock In Alexandria, Egypt
Stock in Bombay, India
Total East India, &c.
Total American
Total visible
3,866,418 4,525,729 3,842,488 4,352,427
-
86,000
5,000
101,000
10,000
11,000
42,000
166,000
14,000
51,000
229,000
543,000
*
109,000
128,000
13,000
15,000
78,000
99,000
104,000
12,000
13,000
40,000
173,000
56,000
64,000
75,000
296,000
335,000
251,000
447,000
245,000
479,000
44,000
1,133,000
965,000 1,095,000 1,141,000
3,866,418 4,525,729 3,842,488 4,352,427
4,999,418 5,490,729 4,937,488 5,493,427
7.84d.
5.14d.
6.50d.
5.86d.
Middling Upland, Liverpool
14.45c.
9.65c.
Middling Upland, New York
12.25c.
10.80c.
14 Hd. 8 15-16d.
Egypt, Good" Brown, Liverpool-.
10 Hd. 10 ll-16d.
9.75d.
7.75d.
Peruvian, Rough Good, Liverpool
11.25d.
9.25d.
Broach, Pine, Liverpool7Ud. 4 13-16d. 5 13-16d. 5 ll-16d.
Tinnevelly, Good, Liverpool
7Hd. 4 13-16d.
5«d.
5«d.
supply.
Continental imports for the past week have been 142,000
bales.
‘The above figures for 1910 show a decrease from last week
of 9,606 bales, a loss of 491,311 bales from 1909, an in¬
crease of 61,930 bales over 1908, and a decrease of 494,009
bales from 1907.
.■'>:■%! ■’7 0 p •'
•
•
Including movement by rail to Canada.
*
The foregoing shows the week’s net overland movement
has been 25,361 bales,1 against 45,401 bales for the week
last year, and that for the season to date the aggregate net
overland exhibits a decrease from a year ago of 291,254 bales.
,
^
^
4
,
vln Sight and Spinners'
•.
Takings.
-1909-10—
».v
Wee*.
,
1908-09-r—
Sinoe
.
’^
:
r Since
Sept. ii.
Receipts at ports to Jan. 14
159,414 5,396,022
Net overland to Jan. 14__-___-___: 25,361
522,237
Southern consumption to Jan.14
52,000 1,014,000
Week.
Sept. 4*
236,829 6,794.358
45,401
813,491
50,000
896,000
Total marketed.-..
Interior stocks in excess--.*..
332,230 8.503,849
*21,772
767,857
,,
<
___
.236,775 6,932,259
*22,771
688,273
Came into sight during week
Total in sight Jan. 14
7,620,532
—_V_
9,271,706
North. Splnner8, takings to Jan. 14.. 67,911 1,320,238
76,281 1,556,496
1
•
•
214,004
t
.
*
..
310,458
,
Decrease during the week.
Movement into
Week—
1908—Jan. 17
1907-rrJan. 18___.
1906—Jan. 19
1905—Jan. 20
sight in previous
Bales.
years:
Since Sept. 1—
308,714 1907-08—Jan. 17
422,784 1906-07—Jan. 18
211,705 1905-06—Jan. 19
145,222 1904-05—Jan. 20 k
Bales. ;
.7,460,358
.9.001,253
7,525,133
8,472,315
176
THE CHRONICLE
NEW ORLEANS OPTION MARKET—The highest,
lowest and closing quotations for leading options in the New
Orleans cotton market for the past week have been as follows:
Sat’day,
Jan. 8.
Monday, Tuesday, Wed’day, Thursd’y Friday,
Jan.
10. Jan.
11. Jan.
12. Jan
13, Jan.
has been postponed until February. We have, how¬
his cotton figures brought down to Jan. 1, which are
given below. We also give revised totals for last year that
comparison may be made. The spinners' takings in actual
bales and
October 1 to
—
—
—
—
—
—
15.00-.09 15.08-.50 14.70-.23 14.56-.69 13.70-.84
15.08-.09 15.48-.49 14.88-.89 14.65-.66 13.96-.98
—
@
—
—
@
—
—
@
—
@
—
—
—
@
—
HOLIDAY.
15.25-.41 15.34-.79 15.00-.52 14.80-.38 13.94-.10
15.36.37 15.76-.77 15.14-.15 14.91-.92 14.20-.21
June—
Range
Closing
@ .07
@ —
@ —
@ —
@ —
15.44-.46 15.84-.85 15.22-.24 14.99-.01 14.28-.36
—
July—
Range
—
—
—
—
15.44-.60 15.47-.94 15.13-.67 14.95-.52 14.15-.24
15.48-.49 15.91-.92 15.29-.30 15.08-.09 14.36-.38
Closing
September—
Range
Closing
13.60-.95 13.84-.89 13.47-.68 13.35-.62 12.90-.50
13.68-.69 13.99-.01 13.59-.60 13.40-.42 13.21-.23
Range
Closing
13.12-.67 13.14-.33 12.83-.17 12.83-.15 12.21-.00
13.11-.12 13.34-.35 12.95-.00 12.83.84 12.66-.68
October—
Steady.
Steady.
Steady.
Steady.
Firm.
Steady.
Steady.
Steady.
Steady.
Takings by spinners
Average weight of bales
Takings in pounds
Great Britain.
.bales
Continent.
928,000
lbs.
WEATHER REPORTS BY TELEGRAPH.—Our tele¬
bales
909,000
1,720,000
505
486
lbs.
459,045,000
on
one
day the
an
averaged 53, the highest being
68 and the lowest 28.
San Antonio, Texas.—There has been rain on one day of
the past week, the rainfall reaching eighty-two hundredths
of an inch. The thermometer has averaged 49,
ranging
from 26 to 72.
Taylor, Texas.—We have had rain on one day the past
week, the rainfall reaching one hundredth of an inch. The
thermometer has ranged from 24 to 70, averaging 47.
Shreveport, Louisiana.—There has been rain on one day
of the week, the precipitation reaching thirty-six hundredths
of an inch.
The thermometer has averaged 44, the highest
being 67 and the lowest 20.
Vicksburg, Mississippi.—Rain has fallen on one day of the
week, to the extent of one hundredth of an inch. The ther¬
mometer has averaged 47, ranging from 25 to 69.
Helena, Arkansas.—We have had rain on one day during
the week, the precipitation being forty-one hundredths of an
inch.
The thermometer has averaged 37.6, the
highest
being 58 and the lowest 15.
Mobile, Alabama.—We have had no rain during the week.
The thermometer has ranged from 26 to 68,
averaging 49.
Montgomery, Alabama.—We have had rain on one day
during the week, the rainfall being seventy-two hundredths
of an inch.
Average thermometer 42, highest 68, lowest 20.
Savannah, Georgia.—We have had rain on two days during,
the week, the rainfall being three hundredths of an inch.
Average thermometer 49, highest 66, lowest 29.
New Orleans, Louisiana.—There has been no rain
during
the week.
Average thermometer 52.
Selma, Alabama.—Rain has fallen on one day of the week,
to the extent of sixty-four hundredths of an inch.
The ther¬
mometer has averaged 38, the highest
being 74 and the
lowest 19.
Madison, Florida.—Dry all the week. The thermometer
has averaged 49, ranging from 30 to 67.
Charleston, South Carolina.—It has rained on one day of
the week, the rainfall reaching nine hundredths of an inch.
The thermometer has averaged 48, the highest
being 64
and the lowest 32.
October 1 to January 1.
Bales of 500 lbs. ea h.
(000s omitted.)
1909.
1908.
Great
Conti¬
Britain nent.
1
Supply
Consumption, 13 weeks
Great Conti¬
Total. Britain nent.
234
932
1,218
1,489
1,166
910
Spinners’ stock Jan. 1
000s omitted.
In October
In November
In December
TotaL
1,452
2,421
308
918
1,046
1,672
1,354
2,590
2,707
1,430
3,873
2,340
1,226
750
2,718
1,430
3,944
2,180
256
1,277
1,533
476
1,288
1,764
70
70
70
110
110
110
180
180
180
*30
110
110
110
140
170
188-
being 58.2 and the lowest 12.3.
EUROPEAN COTTON CONSUMPTION TO
(JAN. I.—
advised that the publication of Mr.
Ellison's Annual Review of the cotton trade for the calendar
60
78
Small consumption due to lock-out In Lancashire.
January 13.
1909-10.
Receipts at—
1908-09.
Since
Week.
Bombay
Sept. 1.
116,000 1,193,000
•
Since
Sept. 1.
Week.
85,000
1907-08
Since
Week.
632,000
Sept. 1
83,000
703,000
A
For the Week.
Exports
from—
Since September 1.
Great
Conti¬ Japan
Britain. nent. JkCMna Total.
Great
Britain.
Conti¬
nent.
Japan
<fe China.
Total.
Bombay—
/ 1909-10-1908-09-.
1907-08.Calcutta—
5,000 49.000 21,000 75,000
2,000 18,000
20,000
40,000
40,000
20,000
7,000
8,000
243,000
183,000
212,000
257.000
149,000
124,000
520,000
339,000>
344,00ft
2,000
1,000
2,000
4,000
1,000
11,000
11,000
9,000
2,000
16,000
15,00ft'
31,00ft
1,000
1,000
1,000
4,000
3,000
8,000
5.000
10,000
18,000
1.000
2,000
10,00015,000
26,000-f
2,000
1,000
3,000
16,000
5,000
7,000
39,000
60,000
62.000
1,000
6,000
9,000
56,000
71,000'
78.000
52.000 23,000 80,000
19,000
2,000 23,000
43,000
1,000 44,000
42,000
19,000
24,000
298,000
264,000
301,000
261,000
601.000
173.000
133,000
456,000
458.000
_
1909-10..
1908-09..
1907-08-Madras—
1909-10..
1908-09-1907-08-All others—
1909-10..
1908-09.
2,000
1,000
..
-
-
-
1,000
1,000
1,000
-
_
2,000
1,000
1,000
.
-
2,666
1907-08..
Total all—
1909-10-1908-09.
1907-08..
5,000
2,000
-
10,000
ALEXANDRIA RECEIPTS- AND SHIPMENTS.
Alexandria, Egypt,
January 12.
1909-10.
1908-09.
1907-08.
200,000
4,633,920
180,000
5,328,955
Receipts (cantars)—1
This week
Since Sept. 1
115,000
4,344,920
-
w
i
This
This
Since
This
Week.
Week. Sept. 1.
Since
Sept.il
-
4,500
To Liverpool. To Manchester
To Continent
To America
Total
Since
Week. Sept. 1.
Exports (bales) —
—
-
-
95,469
8,500 93,561
8,500 144,555
78,810
88,936 14,250 130,532
164,069 10,500 142,183 10,500 172,755
2,750 42,932
3,000 29,883
5,000 36,71ft
-
—
11,566
18,750 381,280
exports
Note.—A cantar Is 99 lbs.
22,000 357,563
38,250 484,550-
Egyptian bales weigh about 750 lbs.
MANCHESTER MARKET.—Our report received by
cable to-night from Manchester states that the marketjia
steady for yarns and quiet for shirtings. Merchants are
buying very sparingly.
low and leave those for
for comparison:
We give the prices for to-day be¬
previous weeks of this and last year*
1909-10.
d.
Dec.
3 10H
10 \QX
17
24
31
10H
10W
10 X
d.
®
@
@
Jan*
7
10V4
@
14 10 5-16(41
1908-09.
8H lbs. Shirtings, common
to finest.
32s Cop
Twist.
22 to 54.
Memphis, Tennessee.—We have had rain on one day during
the week, the precipitation being forty-two hundredths of
an inch.
The thermometer has averaged 35.8, the
highest
-
INDIA COTTON MOVEMENT FROM ALL PORTS.
Charlotte, North Carolina.—We have had rain on one day
during the week, the rainfall reaching two hundredths of an
inch. The thermometer has averaged 38,
ranging from
we are
492.6
835,920,000 1,294,065,000
average weight of the deliv¬
pounds per bale this season,,
against 505 pounds during the same time last season. The
Continental deliveries average 491 pounds, against 486
pounds last year, and for the whole fo Europe the deliveries
average 495.2 pounds per bale, against 492.6 pounds last
season.
Our dispatch also gives the full movement for this
year and last year in bales of 500 pounds.
*
Abilene, Texas.—We have had rain on one day during the
week, the rainfall reaching thirty-four hundredths of an inch.
The thermometer has averaged 50, ranging from 30 to 70.
Corpus Christi, Texas.—There has been rain on two days
during the week, to the extent of fifty-two hundredths of an
inch.
The thermometer has ranged from 40 to 68, averag¬
ing 54.
Fort Worth, Texas.—It has rained on two
days of the
week, the precipitation reaching forty-nine hundredths of
an inch.
Average thermometer 45, highest 62, lowest 28.
Palestine, Texas.—There has been rain on one day of the
week, the precipitation reaching eighteen hundredths of an
inch.
The thermometer has averaged 48, the highest being
By cable to-day
2,629,000-
Weekly Consumption,
past week, to the extent of twenty-three hundredths of
inch.
The thermometer has
68 and the lowest 38.
495.2
According to the above, the
the week.
Galveston, Texas.—There has been rain
2,445,000
491
744,847,000 1,210,703,000
eries in Great Britain is 502
Spinners’ stock Oct.
Takings to Jan. 1
graphic reports from the South this evening indicate that
the weather has been fairly favorable on the whole during
Total.
1,517,000
502
465,856,000
For 1908.
Takings by spinners
Average weight of bales
Takings in pounds
Steady.
Steady.
Nominal.
January 1.
For 1909.
Tone---
Spot
Options
follows:
as
15.21-.23 15.61-.63 15.01-.03 14.78-.80 14.09-.il
-----
*
ounds have been
14.
14.83-.67 14.85-.10 14.50-.80 14.36-.58 13.53-.32
14.67 — 15.09-.12 14.50-.54 14.27-.29 13.65-.68
15.84-.85
@ —
@ —
@ .89
@
14.88-.90 15.28-.30 14.69-.71 14.45-.47 14.73
LXXXX.
year
ever,
January—
Range
Closing
February—
Range
Closing
March—~
Range
Closing
April—
Range
ClosingMay—
Range
Closing
[VOL.
8.
d.
s.
d.
Cotn.
Mid.
32s Cop
Ttoist.
Vpl’s
d.
d.
d. s. d.
5
11X 5
nx 5
nx 5
nx 5
5«@9 11
6
@10 0
6
@10 0
6
@10 0
6H@10 1
7.72 7H
@
7.94 7 9-16 @
8.50 7H
@8
11H 5
6
5
8.18 7 H
7.84 7X
@
11
n
5
@10 0
@9 10X
8.03 7H
8.26
7H
8X lbs. Shirtings, common
to finest.
@
@
sx 4
8H 4
ax 4
*x 4
3-16 4
9
8X 4
8K 4
8.
Col.n.
Mid.
Upft •
d.
(d.
@8
4X
7)4 @8
6
@8
4X
3
4.97'
4.86
4.82
6
6H@8
3X
4X
4.99
7
8
@8
5
at 8
6.
@8
4.92
5.07
5.14
Jaj». 15
TAKINGS OP COTTON.
WORLD’S SUPPLY AND
-
Season.
1,714,982
9,271,706
632,000
117,000
618,000
135,000
310,458
85,000
3,000
27,000
4,000
5,367,028 11,536,554 5,996,313 12,478,688
Total supply..
Jan. 14
Embraces receipts In
4,999,418
4,999,418
...
5,490,729!
111,000
west have been
5,490,729
505.584
421.584
84,000
6.537.136
5.208.136
1,329,000
367.610
256.610
Total takings to Jan. 14
Of which American—
Of which other.•
1,931,022
7,620,532
1.193.000
81,000
579,000
132,000
214,004
116,000
5,000
15,000
8,000
Jan. 14—
Friday, Jan. 14 1910.
the
whole been steady, though a few grades have advanced
moderately. Early in the week a somewhat larger business
was put through, but of late the trading has again fallen to
very small proportions.
At the Northwest the market has
been active, both as regards new business and shipments on
old contracts.
On the other hand, reports from the South¬
Prices for wheat flour in the local market have on
5,566,855
5,009,024
Bombay receipts to Jan. 13
Other India snlp’ts to Jan. 13
Alexandria receipts to Jan. 12..
Other supply to Jan. 12 *
Deduct—
Visible supply
Week.
Season.
Week.
7
Vlaihln Riinnlv Stent. 1
VIbIMa Riinrtlv .TA.n.
BREADSTUFFS.
1908-09.
1909-10.
Cotton Takings
Week and Season
American in sight to
6.997.959
5.722.959
1,275,000
Abruzzi, 50
184
100
10—Duca degll
Naples—Jan. 7—Barbarossa, 906—Jan.
956
200
-
-
To Trieste—Jan. 11— Alice, 200
Jan. 8—
GALVESTON—To Liverpool—Jan. 6—Basil, 7,759
Indian, 15,130
Jan. 11—Torr Head, 200
To London—Jan. 7—Eaton Hall, 1,199
To Reval—Jan. 11—Torr Head, 11,486.
To Hamburg—Jan. 11—Eger, 838
23,089
1,199
11,486
838
To Riga—Jan. 11—Torr Head, 811
To Genoa—Jan. 7—Auchencrag, 7,467
PORT ARTHUR—To Bremen—Jan. 13—Cayo Soto, 7,818
NEW ORLEANS—To Liverpool—Jan. 11—Atlantlan, 10,938...
Jan. 14—Centurlan, 8,600.
To Havre—Jan. 14—Aslan. 600
Trident, 620
To Rotterdam—Jan. 10—Peerless, 112
To Antwerp—Jan. 11—Balaclava, 724
To Genoa—Jan. 11—Monvlso, 1,250—
Hamburg—Jan. 12—Eskslde, 530
Gothenburg—Jan. 10—Manchester Inventor, 600
Reval—Jan. 10—Manchester Inventor, 50
Barcelona—Jan. 8—America, 1,651
Genoa—Jan. 8—America, 1,590
Venice—Jan. 8—America, 400
WILMINGTON—To Flume—Jan. 10—Eugenia, 2,000
732
724
1,250
2,000
Liverpool—Jan. 11—Devonian, 662
BOSTON—To
7,818
19,538
600
5,550
275
1,957
530
600
50
1,651
1,590
400
To
To
To
To
To
To
-
811
7,467
3,201
MOBILE—To Liverpool—Jan. 8—William Cliff, 3,201.
PENSACOLA—To Liverpool—Jan. 10—Gracia, 5,550.
SAVANNAH—To Manchester—Jan. 13—Ness, 275
To Bremen—Jan. 12—Eskslde, 1,957
Yarmouth—Jan. 12—Boston, 98
BALTIMORE—To Hamburg—Jan. 7—Badenia, 400
PHILADELPHIA—To Manchester—Jan. 7—Manchester
tion, 300
SAN FRANCISCO—To Japan—Jan. 7—Korea, 1,927
SEATTLE—To Japan—Jan. 13—Kumeric, 202.__...
662
98
400
To
Corpora¬
300
1,927
202
98,385
Total
LIVERPOOL.—By cable from Liverpool we have the
fol-
Dec. 24.
Dec. 31.
Jan. 7.
Jan. 14.
22,000
34,000
45,000
42,000
1,000
2,000
36,000
10,000
50,000
1,084,000
998,000
92,000
81,000
180,000
130,000
800
800
Of which speculators took..
Of which exporters took—
Sales, American
16,000
12,000
41,000
.1,014,000
Total stock—Estimated.
928,000
Of which American—E
19,000
Total Imports of the week.__.
11,000
226,000
165.000
600
1,900
24,000
11,000
49,000
1,054,000
952,000
100,000
57,000
209,000
184,000
2,000
36,000
8,000
94,000
1,052,000
960,000
100,000
78,000
189,000
158,000
Liverpool market for spots and futures
day of the past week and the daily closing prices of
spot cotton have been as follows:
The tone of the
each
Tuesday.
Monday.
Saturday.
Spot.
More
Fair
business
demand.
doing.
Market,
12:15
1
P. M.
J
inquiry.
Upl’ds
8.27
8.32
7.98
8,02
7,90
7.84
4,000
'6,000
10.000
10,000
8,000
8,000
500
500
500
500
500
Mid.
f
PM
Sales
300
Spec.&exp.
Futures.
Market
\
Dull.
Quiet.
Small
Irregular
Steady at
Steady at
3 @9
7@12 pts.
25 points
decline.
at
advance.
opened
J pts. adv.
Market,
Steady at
] Barely st’y Weak at
at 1$* pts. 3$*@7 pts. 5@11 pts.
Bp.
m.
m
j
dec. to 2
decline.
decline.
Quiet at
2@4 pts.
advance.
Weak at
10@18$*
pts. dec.
Moderate
demand.
Irreg. 2pts. Steady at
dec. to 5 8@11 pts.
decline.
pts. adv.
Steady at
Steady
unch.to5$* 4@5$* pts.
decline.
dec.
pts.
prices of futures at Liverpool for each day are given
Prices are on the basis of upland, good ordinary
clause, unless otherwise stated.
The prices are given in pence and 100ths.
Thus, 8 04 means 8 04-1 OOd.
WJan F8
rmto*
Jan
12 $*
p.m.
£14
l*|
JanuaryJan.-Feb
Feb.-Mch.
Mob .>Apr.
_
-
Apr.-May.
May-June
June-July
July-Aug.
Aug .-Sep.
Sept.-Oct.
Oct.-Nov.
Nov.-Dee.
Dec.-Jan
Jan .-Feb
12 $*
p.m.
d.
8
8
8
8
8
8
8
8
7
7
7
7
7
Tues
7 03
Fri
Thurs
Wed
4
4
12 H
12 $*
4
4
12 $*
4
12 $*
12 $*
p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m.
d.
d.
04 $* 14
04 $* 14
16 $*
07
19
10
11$* 20 H
22
13 $*
21 $*
13
20
12
85 $* 93
46 $*
38
23 $*
16
12 $*
05
03 $* 10 $*
10
d.
01
01
03 $*
05
06 $*
08 $*
08
07
80
31
10
99 $*
97 $*
97
'
r
d.
90
90
80
92 $*
83
94
85
86 $* 95 $*
88 $* 97 $*
97
88
96
87
61
70
17 $* 26
05
96
94 $*
85
92 $*
83
82 $* 92
d.
80
-
•’
d.
84
84
85
88
89 $*
91 $*
d.
71 $*
71 $*
73
75 $*
77
79
79
77
52
DAILY|CLOSING|PRICES OF WHEAT FUTURES IN NEW YORK.
Mon.
Sat.
Tues.
Wed. Thurs. Fri.
132
131
120 $* 120$* 120 $* 120$* 120$* 119
111 H 111$* 110 J* 111
111$* 110$*
winter, f. o. b
May delivery In elevator
July delivery In elevator
129
No. 2 red
132
130
132
DAILY CLOSING PRICES OF WHEAT FUTURES IN CHICAGO.
Sat.
Mon. Tues. Wed. Thurs. Fri.
113 $* 113$* 113$* 113 X 113 $* 111 X
103$* 103$* 103
103 $* 103$* 102$*
98 $*
98 $* 98 $* 98 $* 98 5* 99
May delivery In elevator
July delivery In elevator
Sept, delivery In elevator
Indian com futures in the local market have been nominal.
At the West the speculation has been active and excited, and
time when the shipping demand has increased
Cash prices have risen. The weather of late has
been mild and wet in many sections and the roads are said
to be breaking up, so that decreased receipts are expected.
arrivals at
a
materially.
Meantime there is said to be
The
below.
Mon
the decline is as severe as that in cotton or not.
The ex¬
port demand is still in abeyance. Speculation is beginning
to flag.
In such circumstances it is contended that a big
export demand and a revival of speculation can alone in¬
fuse new strength and confidence into the market.
To-day
prices were firmer early on better cables than expected and
small Argentine shipments.
Later they declined on liqui¬
dation in a market that had become overbought.
extensive short interest
an
prominent operators. Commission houses have
been large buyers. Reactions have occurred at times, owing
to liquidation and selling by cash interests.
To-day prices
at the West declined on general liquidation.
among very
pts. adv.
Sat
quiet, with fluctuations confined within
bounds. Some of the crop reports from Ar¬
gentina have been bad, but on the other hand it is maintained
that, whatever may be the deficiency in that country, it will
be more than made up in Russia alone, to say nothing of the
prospective yield in Australia and India. It is insisted that
the world’s crops this year are three or four hundred million
bushels larger than those of last year, and that it is only a
question of time when prices must seek a lower level. Of
late European markets have declined.
At Liverpool the
receipts have been large. In our Southwestern States the.
flour trade has been dull and cash wheat markets sluggish.
Some take the ground that the price is now sustained by
powerful interests alone. It is said that farmers at the West
are being advised in placards in English, German and Swedish,
posted everywhere in the country districts, to hold their
wheat for higher prices, and they are said to be doing so in
the belief that higher prices are coming.
Minneapolis has
reported a brisk milling demand for cash wheat, with No. 1
Northern 2^ to 3 cents over May.
Mills have also been buy¬
ing May futures at Minneapolis, and the Northwestern flour
trade is reported to be active.
The Argentina export sur¬
plus is estimated in some cases at as low as 8 ,000,000 bush¬
els.
But Buenos Ayres prices have latterly fallen, and it is
stated that arrivals at that point from the country districts
are beginning to increase.
Our Northwestern stocks are in¬
creasing. Prominent cash interests have been selling at
Chicago. At Winnipeg the selling by foreign houses has
attracted some attention.
The belief seems to be growing
that wheat is unduly high and that it is only a question of
time when, like cotton, it must seek a lower plane, whether
the Westto
Erices
entiment
haveatadvanced
is new
levels
for tothetheseason.
very high
owing
bullish,
light
Friday.
Wednesday. Thursday.
Rye flour and corn
very narrow
Total bales.
upland, 145 Sea Island..
Sales there have been reported
Wheat has been
Europe from Brazil, Smyrna, West Indies, &c.
TO LIVERPOOL—Jan. 10—Bohemian, 39
To Genoa—Jan. 7—Barbarossa, 100.
pessimistic.
very small, with prices inclined to sag.
meal have been quiet and steady.
SHIPPING NEWS.—As shown on a previous page, the
exports of cotton from the United States the past week have
reached 98,385 bales. The shipments in detail, as made
up from mail and telegraphic returns, are as follows:
To
177
THE CHRONICLE
1910.]
$*
d.
72 $*
72 $*
74 $*
77 $*
79
80 $*
80
78 $*
54
13
91
90
$<
64 $*
22
14
92
94
01
84
82
90
88 $* 82 $* 80
88
82
60
d.
70 $<
70 $*
72 $*
75 $*
77
78 $*
78
76 $*
51
10 $*
89
79
77
77
d.
66
66
68
70
72 $*
73 $*
73
72
47
06 $*
86
76
74
74
-
-’
d.
66
66
68
70
72
73
73
72
$*
$*
$*
$*
$*
46 $*
DAILY CLOSING PRICES OF NO. 2 MIXED CORN IN NEW YORK.
Sat.
Mon. Tues. Wed. Thurs. Fri.
72 $*
Cash corn
73
73 $* 74 H
75 $< 76
May delivery In elevator
-*◄
76 $*
76 $*
78 $*
*
79
78 $*
DAILY CLOSING PRICES OF CORN FUTURES IN CHICAGO.
.
..
Sat.
.
May delivery In elevator
July delivery in elevator
Sept, delivery in elevator
68$*
68$*
68
Mon. Tues.
68$*
68 $*
68 $*
68 H
68$*
68 $*
Wed. Thurs. Fri.
69$<
69$*
69
70 $*
69$*
69 $*
68 $*
68
68
Oats for future delivery in the
been active and in the main stronger,
Western market have
owing to the rise in com,
light receipts, small country offerings and a sharp increase
in the cash demand at rising prices.
The small crop move¬
ment is a distinct disappointment to the bears, who had
confidently expected liberal receipts in view of the large
Government figures on the size of the crop. Commission
houses have bought freely.
The principal selling has been
to secure profits.
To-day prices declined, owing to^the
weakness in com and wheat and long liquidation.
DAILY CLOSING
04
83 $*
73 $*
71 $*
71 $*
76 $*
„
.
Sat.
PRICEEIOF OATS IN NEW YORK.
Mon.
Tues.
,
Wed.
Thurs.
Fri.
Natural
white..82 $*-54H 52$*-54$< 52 $*-54 $* 52$*-54$* 62$*-54$* 52$*-54$*
White
52 -56
53 -56
Clipped 53 -56
52 -56
52 -56
52 -56
178
THE CHRONICLE
[VOL.
DAILY CLOSING PRICES OF OATS FUTURES IN
CHICAQO.
Sat.
47 %
May delivery In elevator
July delivery In elevator
Sept, delivery In elevator
The
following
Winter, low grades
Winter patents
Winter straights
Winter clears
Spring patents
;
~
Spring straights
Spring clears
44%
41%
Tues.
Wed. Thurs. Frt.
48%
49%
48%
45%
45%
45%
42%
42
42%
47%
44 %
41%
41%
FLOUR.
$4 40@$4 60 Kansas straights, sack.$5
5 75® 6 15 Kansas clears, sacks
5
5 50® 5 70 City patents
6
5 00® 5 25 Rye flour
3
5 50 (
6 10 Graham flour
4
5 30 (
5 50 Corn meal, kiln dried-_ 3
4 50 (
4 75
15@$5 40
00® 5 25
95@ 7 25
90 @ 4 60
50 @
25@ 3~40
Central America
Boston
Philadelphia
Baltimore
New Orleans
Galveston
Buffalo
f
“
afloat.
Toledo
"
afloat
Detroit-----“
afloat
Chicago
Milwaukee
Duluth
Minneapolis
St. Louis
bush.
bush.
bush.
1,355,000
56,000
442,000
362,000
769,000
63,000
46,000
bush.
698,000
1,213,000
240.000
17,000
157‘666
76,000
2,237,000
1,115,000
276,000
* 147,000
919,000
801,000
104,000
428,000
450,000
3,155,000
347,000
2,200,000
3,245,000
185,000
107,000
19,000
1,000
295",666
104,000
72,000
2",666
2,256,666
2,885,000
561,000
1,182.000
1,068,000
177,000
641,000
944,000
146,000
69,000
48,000
31,000
255,000
5,000
76,000
50,000
836,000
535,000
75,000
436,000
14,000
330,000
Total Jan. 8 1910.. .27,077,000
Total Jan. 1 1910.. .27.736,000
Total Jan. 9 1909.. .60,479,000
9,406,000
8,465,000
Wheat,
Montreal
Fort William
“
afloat
Port Arthur
Other Canadian
Total Jan. 8 1910..
Total Jan. 1 1910..
Total Jan. 9 1909--
American
Canadian
Total Jan.
Total Jan.
Total Jan.
.
.
.
.
.
.
.
.
10,367,000
1,012,000
2,591,000
2,655,000
4,905,000
bush.
STOCKS.
Oats,
bush.
Rye,
Barley,
39,000
bush.
434,000
102,000
434,000
434,000
189,000
102,000
91,000
GRAIN
Com,
bush.
301,000
2,378,000
160,000
795,000
814,000
bush.
2,237,000
3,462,000
8,538,000
8,963,000
6.666.000
39,000
35,000
26,000
SUMMARY.
Wheat,
Corn,
79.000
Rye,
bush.
bush.
.27,077,000
8,538,000
bush.
9,406,000
39,000
10,367,000
434,000
795,000
8 1910. .35,615,000
1 1910. .36,699,000
9 1909. .57,145,000
9,445,000
8.500,000
7.351,000
10,801,000
11,614,000
11,110,000
795,000
814,000
1,012,000
.
Barley,
bush.
2,591,000
102,000
2,693,000
2,746,000
4.984,000
THE DRY GOODS TRADE.
New York, Friday Night, Jan. 14 1910.
Sharp declines in the price of cotton this week were a most
important factor in cotton goods markets, both primary
ana secondary.
In the early part of the week numerous
buyers were in evidence; they displayed a more active inter¬
est in various spring and fall lines and
operated steadily
though moderately on staple fabrics; in fact, in many quar¬
ters the market showed
violent break in the
a
healthier tone.
raw
material
The
subsequent
market, however,
again made buyers as a rule very cautious and disinclined to
operate extensively for the future, owing no doubt to ex¬
pectations of still lower-priced staple and in turn an easier ten¬
dency in the goods markets. The decline in cotton led to
greater efforts on the part of some buyers to place contracts
for forward delivery at their recent
bids, but prices generally
have been firmly held.
In certain instances retailers, ur¬
gently in need of supplies, have placed fair orders with
jobbers on staple fabrics for prompt and near-by
shipment,
quite regardless of the cotton market. Jobbers as
well as
first hands expect demand will increase as
distributors' re¬
quirements become more pressing, but they do not, look
for
much
contract business until the raw material is
more
settled.
On the other hand, not a few
buyers
apparently
realize that primary stocks are not
large, that mills will not
manufacture goods from high-cost cotton unless
merchandise
is contracted for on a profitable basis, and
that, to secure the
A little better demand came
colored cottons, but the volume
moderate. Cotton linings ruled dull
advanced to 434c-, but 4%c. now
were
sents the market
main unchanged.
more
future remains to be
seen..
In
the
be
a
factor in the
print cloth market
tnwpng was active in regulars, being stimulated by the ad¬
vanced bijd of the Borden interests,,
namely, 4^c.; this bid,
hpkever, now appears to be withdrawn temporarily,
owing
tp tbp freer offerings by mills following the
in
slump
cotton.
In, goine quarters of the market for men's
wear,, trading was
ippre aptive on staple lines,, but in others
hesitancy was
noted, ,. In, 1 dress goods leading producers continued to
book fair-sized orders op
fabrics for fall,
while spot and near-by tradepopular-priced
was quite brisk.
DOMESTIC COTTON GOODS.—-The exports of cotton
goods from this port for the week ending Jan. 8 were 2,180
packages, valued at $135,885.
probably
repre¬
accurately; standard wide cloths
re¬
WOOLEN GOODS.—A substantial increase was
reported
staple men's wear worsteds for fall, with
a
comparatively large business put through; the leading
producers' bookings are said to be in excess of orders
re¬
ceived during the same
period a year ago. A better call was
also noted for wool
suitings, while the movement of fancy
woolen overcoatings was well
maintained. In the dress
goods division some of the principal producers have an¬
nounced prices and booked considerable business
on
staple
lines for next fall; additional lines are
expected to be opened
next week.
Broadcloths, serges and diagonals continued
especially active.
■"
,,
FOREIGN DRY GOODS.—Imported woolen and worsted
goods were taken somewhat more freely,
especially for the
next fall
Linens
were
comparatively quiet but
well patronized, but
business was more or less restricted
by the limited offerings,
compared with previous seasons. Trade in burlaps was fair
for this time of the year, and
prices unchanged.
Importations and Warehouse Withdrawals of Dry Goods.
h^how
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required deliveries, they must place orders before
long; to
what extent such considerations
will
noted.
ginghams and
season.
Oats,
bush.
*
in the demand for
“4",666
11,180,000
10,921,000
7,325,000
CANADIAN
713,000
76,000
4,748
977
33
177
465
250
standstill, and some orders coming forward from some
miscellaneous ports, including Manila. The week's
sales of
regulars in the print cloth market are estimated at about
half a million pieces,
mostly for forward delivery, but pur¬
chases of wide cloths were
moderate; a few days ago regu¬
lars
33,000
590,000
2,180
722
of business done was
and featureless.
Staple drills and sheetings showed a better
tone in the demand
during the early part of the week, but
the decline in cotton checked
same; prices, however, have
held firm. Conditions in the
export market remained prac¬
tically unchanged, business with the Far East being at
a
bush.
725,000
2,180
forward for
247,000
9,000
1,000
103,000
2,787,000
Indianapolis
1,000
121,000
977
33
177
465
250
971
243
shortening of discounts
Barley,
3,457,000
4,971,000
1,695,000
Kansas City
Peoria—
‘6’666
52,000
165,000
157,000
2,051
$135,885 in 1910, against $275,497 in 1909.
In domestic cottons trade with
jobbers during the week
was of the hand-to-mouth
order, although in some lines
buyers displayed increased interest. This was
particularly
true of new lines of cotton
blankets, quite satisfactory orders
being received, especially for fancy border effects. Stocks of
napped goods generally with jobbers are reported as
light.
The call for staple
prints was fair; prices ruled firm, with a
The visible supply of grain,
comprising the stocks in
granary at principal points of accumulation at lake and
seaboard ports Jan. 8, 1910, was as follows:
afloat
69
4
2,051
4,748
The value of these New York
exports since Jan. 1 has been
For other tables usually given here,
see page 149
“
69
4
136
157
413
35
104
971
243
104
__r
South America
Other Countries
Wheat, per bushel—
Corn, per bushel—
Cents.
N. Duluth. No. 1
$1 25
No. 2 mixed
elev.
76
N. Duluth, No. 2__
1 23
No. 2 yellow..!
f.o.b. Nominal
Red winter, No. 2
f.o.b. 1 31
No. 2 white
f.o.b. Nominal
Hard winter, No. 2
1 25 % Rye, per bushel—
Oats, per bushel—
Cents.
No. 2 Western
f.o.b.
84
Natural white
52 % @ 54 %
State and Jersey
Nominal
White clipped
53
@56
Barley—Malting
73
@75
Mixed
50
Feeding, c.i.f.,N.Y.
Ncmidal
Rye,
Week.
722
136
157
413
35
Total..
AMERICAN GRAIN STOCKS.
Wheat,
Corn,
Oats,
-1909Since
Jan. 1.
Week.
Great Britain
Other European
China
India.
Arabia
Africa
West Indies
Mexico
GRAIN.
New York
-1910Since
Jan. 1.
106
106
15
15
New York to Jan. 8—
closing quotations:
are
-
Mon.
47 %
44%
LXXXX.
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below the estimated figures for 1910, comparison
We give
State and City Department,
^
—■
City.—Statement of City’s Debt
New York
Included in
as
Mayor’s Message.—The following statement of the city’s
debt included'm the Mayor’s annual message to the Board
of Aldermen fixes the borrowing capacity of the city at the
close of business on Dec. 31 1909 at $58,764,207:
being made
with
both the estimated and final figures for 1909.
i
f.7
i!*':
Dec. 31
a
x
*
$598,012,644
$653,270,379
-
Dec. 31 ’07.
Dec. 31 ’08.
$100,000
5,000,000
1,000,000
7,000,000
9,397,210
31,148,827
Dec. 31 ’09.
$750,000
1,450,000
1,865,000
2,700,000
4,308,000
6,822,000
13,441,000
29,031,290
$10,000
2,570,000
7,400,000
9,160,000
13,625,000
41,241,600
...
$53,646,037
$74,006,600
$60,367,290
SUMMARY.
in net funded
-
in temporary
-
Total Increase In the year 1908 In net
bonded debt
Increase In the year 1909 in net funded
debt
Decrease in the year 1909 in temporary
debt
-
$60,434,843 04
20,360,563 08
$80,795,406 12
$55,257,734 85
13,639,310 00
and 1909 In net bonded debt
Ten per cent of the assessed valuation of
under assessment rolls for 1909—
Gross bonded indebtedness Dec. 31 1909
Deduct—
Bonds to be omitted. In accord¬
ance
Richmond
as
of
$122,413,830 97
Grand total of real estate
real estate subject to taxation
.
$680,717,970
$946,005,729
$34,130,248
$573,751 978
1,061,250
908,800
598,000
4,298,500
3,538,800
1,305,350
1,464,950
1,970,975
868,975
23,000
20,000
1,645,500
1,720,750
857,675
498,700
10,000
599,500
344,800
998,505
..
Queens—
22,530,275
14,915,100
..
*1909.—
7,498,875
Richmond—
1910—
3,719,000
1909
4,754,600
1,950,685
57,860,675 ’
deducted In accordance with
9,658,890
of New York at Dec. 31 1909—
621,953,763
capacity of the City of New York at Dec. 31 1909
Redemption of the city <tebt (non-exem.)
Installments payable In 1910.......—
$58,764,207
$58,764,207
•if.
8,197,145
$66,961,352
There should, however, be taken into consideration as a contra to the
above increased margin as of Jan. 1 1910 (a. m.) the following con¬
tracts not registered or certified to by the Comptroller, which, under
the decision of-the Court of Appeals are not to be calculated as debt
vntfl certified to by the Comptroller:
.*•
>
Estimated amount of contracts awarded but not certified
tohy the Comptroller.:..-.Estimated amount of contracts for which bids have been
received but no awards made.
Estimated amount contracts advertised but bids not yet
—-
approximate working margin of
Brooklyn.
$
BOROUGHS.
Queens.
S
Richmond.
$
Totals.
$
23,086,417 250,283,345 28,316,725 5.873,200 1,266,546,159
49,664,470 245,695,240 20,444,875 7,074,850 1,259,285,187
13,959,671 84,332,190 9.673,200 3.153.160
443,320,855
>‘V !
}*'
“*
• '
v
•
r'. r.
•• ‘
;
i
,
.
of Repudiated Bonds Accepted
by State of Rhode Island.—Governor Pothier of Rhode Island
sent notice to the Senate on January 12 that the State had
received a gift of repudiated bonds of the State of North
$20,487,337
711.012
1,225,000
Carolina.
The Governor has advised the latter State that
suit will be immediately instituted to enforce the payment
of these bonds.
The face value of the bonds received is
$185,000, with coupons attached which, it is said, brings
their total nominal value up to $511,000. The bonds were
as of
$1,036,530
7,160,615
153,500
North Carolina.—Donation
chargeable against the constitutional margin or
of Appeals will operate to increase the margin
Jan. 1 1910 (a. m.):
Amount of budget appropriation for 1910—
153,500
225,000
Council Bluffs, Iowa.—Decree Signed in Water Bond Case.
—Omaha papers state that on January 7 Judge McPherson
of the United States Circuit Court signed the decree in favor
of the city in the case in which it was sought to prevent the
issuance of the $600,000 municipal water-plant, bonds
mentioned in V. 90, p. 63.
23,541,180
189,247
the
196,200
90,410
332,084,323 145,588,060 48,456,260 86,024,045 7,406,395
328,113,384 153,803,770 56,801.800 77,844,540 18581.255
88,760,165 75,188,720 30,244,285 25.328.895 5.047.895
$
‘
(p. m.)_*
To the margin or borrowing capacity at Dec. 31 1909
(p. m.) as per Comptroller’s statement
The following items which under the decision of the Court
an
13,439,750
12,709,285
6,133,810
39,166,115
1910
958,986.472
1909
936,405,752
1909 *...332,202,634
Less-
Leaving
39,328,510
10,386,300
.196,462.730
..192,523,645
67.080,580
$
$631,612,653
received'
143,410
4,086,398
4,568,429
..
Manhattan. TheBronx.
Liabilities, other than funded indebtedness, chargeable
against the constitutional margin or borrowing capacity
of the City of New York at Dec. 31 1909
Margin or borrowing
$6,280,521,159 S6,257,352,379
75,825,025
103,619,925
2,382,860
2,928,610
1,276,060
16,473,749
41,971,231
11,594,696
..
.
as interpreted by
2,145,650
Personal of-Corporation Personal
NorirRes. Personal.Ordinary
Personal.
Estates.
Resident.
Non-Res. Ordinary. Saxe Law.
Manhattan
‘ $
$
$
$
$
$ ;;
1910
407.801,322 282,887,810 127,801,800 47,218,600 86,024,045 7.252,895
1909
369,975,862 278,956,895 135,595,400 55,873,000 77,423.340 18581,255
75,212,335 66,565;075 !29;555;875 25:328,895 4,8941395“
*1909.. .130,646,059
'
-
land, in¬
cluding costs, charges and expenses (est.).
Judgments and open market orders (est.)...
10,778,750
62,321,815
$6,600,187,322 $6,384,141,084 $6,333,177,804
GRAND TOTALS BY
York Dec. 31 1909
Net contract liability (estimated).
Net liability for the acquisition of
12,070,200
63,186,535
2,276,550
Boroughs.
229.503.051
borrowing capacity of the City
11,744,100
16,109,300
v
Total 1910.646,987,076
Total 1909.624,140,438
Total 1909*218.750,895
bonded Indebted¬
ness
...$372,253,751
Net funded indebtedness chargebale against the constitu¬
tional margin or borrowing capacity of the City of New
Total net indebtedness
* 282,467,155
23,523,700
State Board of Assessors and returned to the
Department of the city in March each year. They were
reported as follows for 1909: Manhattan, $334,299,800; The
Bronx, $23,209,400; Brooklyn, $98,976,500; Queens, $14,876,700; Richmond, $2,639,500; total, $474,001,900.
The total of the tentative personal tax list for 1910 is
$1,266,546,159, or $7,260,972 more than the tentative
figures for last year. In order to show the enormous re¬
ductions usually made in these figures by the “swearing off ”
process, a comparison may be made of last year’s totals^
when the estimated figures were $1,259,285,187 and the final
only $443,320,855, a reduction of more than 800 millions.; .'
The following table shows the amounts for the various
classes of personal property on this year’s list compared with
the tentative and final lists for 1909, the final figures for 1909
being designated by means of an asterisk (*):
..
the provisions of the Constitution,
decision of the Court of Appeals
1,239,724,040
281,134,445
made by the
..
Total deductions from gross
Cash balances in funds to be
1.245,733,730
The above does not include corporation franchises and
assessments of tangible property of public service corpora¬
tions in streets and public places.
The assessments for these
..
.$142,750,700
bonds.
.Vri*
Final Rolls
309,436,405
64,329,914
2,172,600
Brooklyn-
interpreted
Appeals
/Ordinary real setate.
\Corporate real estate.
../Ordinary real estate.
\Corporate real estate.
..
by the decision of the Court
Sinking fund holdings for the
redemption of “non-exempt"
•J
‘.r s'.
1,288,242,908
17,551,550
\Corporate real estate.
real estate..:.:.. $6,511,366,972
corporation real estate..._
88,820,350
41,618,424 85
with the provisions of the
Constitution,
'
-
..
Queens
6,721,253 08
temporary debt..
Increase for the years 1908
i>
Bronx—
the year 1909 In net bonded debt
Total Increase for the years 1908 and
1909 In net funded debt
$115,692,577 89
Net Increase for the years 1908 and 1909
Net Increase In
In
„
January Estimate
Tax
TEMPORARY DEBT.
“
r c -• 2 -i
.
Brooklyn .../Ordinary real estate.
are
Revenue Bonds Issued in Anticipation of Taxes.
Increase In the year 1908
debt
Increase In the year 1908
debt
--.--2
& i
1910.
/ 1909.
1909; /Manhattan
J Ordinary real estate. $4,405,601,486 $4,278,621,686 $4,262,553,086
> \Corporate real estate.
26,251,575
34,280,900 ; * 17,593,400
The Bronx._/Ordinary real estate.
443,755,259
411,844,763
410,296,283
\Corporate real estate.
32,100,525
31,468,575
29,198,325
Total
of General Fund Bonds.
of General Fund Bonds.
of General Fund Bonds.
Amounts Outstanding—
Revenue Bonds of 1902
Revenue Bonds of 1903
Revenue Bonds of 1904
Revenue Bonds of 1905
Revenue Bonds of 1906
Revenue Bonds of 1907
Revenue Bonds of 1908
Revenue Bonds of 1909
“*
1907. Dec. 31 1908. Dec. 31 1909.
$537,577,801
Includes $54,250,000
Includes $68,750,000
Includes $85,500,000
?, 5
Total ordinary
.a$735,014,965 £$808,433,984 *$885,638,439
fund.... al97,437,164 £210,421,340 *232,368,060
Net funded debt
"'* ?
.<
Boroughs—
FUNDED DEBT (including Special Revenue Bonds).
Gross funded debt.
Less held by sinking
179
THE CHRONICLE
Jan. 15 1910. j
presented by a Committee of Bondholders whose total
holdings are variously estimated to be between 11 and> 12
The bondholders, not having power to sue Ta
millions.
State, have been endeavoring to have a sister State accept
a donation of part of their holdings in order to secure a
judgment against North Carolina to be used as a basis for a
settlpm*eht of the entire' issue ; * A portiohVbf the bonds
was offered to the State of New York two years ago but
was refused.
See Y. 86, p. 121.
Governor Hughes, in
declining the donation, remarked that he did not consider it
a wise’policy for the State “to attempt to enrich itself by
22,423,348
$44,538,004
(Chapter 448, Laws of 1909) compelling the Governor to
Figures of Real Estate and Personal Property acCCpt gifts of money, bonds or any other real or personal
Values for 1910.—The Department of Taxes and Assessments property , and when necessary bring suit to establish the
m
:
\
: \v
has announced the tentative figures of real estate and per¬ title to the same.
sonal property values for 1910.
The value of real estate is
Oklahoma.—Special Session of Legislature.—A call for a
fixed at $6,600,187,322, an increase of $216,046,238 over the
session pf the Legislature was issued by Governor
special
tentative figures for 1909 and $267,009,518 over the final
Haskell on January 12.: *
\
V 5
assessed value of real estate for that year. In connection
with the
'Waterloo, Senaca County, N. Y.—Bonds Declared Valid
figures which have just been given out, it should be
borne in mind that the values are merely tentative and sub¬ by Supreme Court.—According to the Rochester “Chronicle”
ject to reduction upon complaint of the owners of individual of January 4 Justice'ArthuruE. Sutherland of the Supreme
pieces of property, taxpayers having until March 31 in which Court:decided in favor of the -village on Jan* 3 in the spit
to file their objections. - The tentative figures for last year which prevented the sale of the $100,000 sewer bonds offered
Were reduced more than 50 millions upon such complaints.
on Sept. 4*1909*
See V, 89, p>79£. V ,■
,
Tentative
\
■l.
180
THE CHRONICLE
Bond Proposals and Negotiations this week
We
are advised that an issue of court-house bonds was sold
Dec. 28 1909 to C. A. Webb & Co. of Asheville.
Amite City, Tangipahoa Parish, La.—Bond Election.—
An election will be held Jan. 22 to vote upon a proposition
to issue $6,000 city-hall bonds.
called for Jan. 22.
Cumberland (P. O. Valley Falls), B.
Ashtabula, Ashtabula County, Ohio.—Bond Sale.—The
$390,000 4% coupon river-improvement bonds offered on
Dec. 29 1909 have been purchased by Otis & Hough and
Hayden, Miller & Co., both of Cleveland, for $392,469—
the price thus being 100.633.
Babylon, Suffolk County, N. Y.—Bond Offering.—Pro¬
posals will be received until Jan. 18 for the $8,000 bonds
Beaumont, Tex.—Bond Offering.—Proposals will be re¬
ceived until 10 a. m. March 1 by J. G. Sutton, City Secretary,
for the following 5% bonds: $100,000 for building and
repairing school-houses, $50,000 for sewerage and $10,000
for repairing and improving the streets.
Denomination $1,000.
Date Dec. 1 1909.
Interest semi-annually at
the City Treasurer’s office or at the Hanover National Bank In New York
City, at the option of the holder. Maturity Dec. 1 1949, subject to call
after Dec. 1 1929.
Bid to be made on a blank form furnished by the city
and be accompanied by a certified check on one of the banks of Beaun.ont
for 2 % of bonds bid for.
The
official notice of this bond offering will be found
among
the advertisements elsewhere in this Department.
Belvedere School District, Los Angeles County, Cal.—
Bond Sale.—Reports state that on Jan. 3 the $35,000 4^%
1-35-year (serial) bonds described in V. 90,
awarded to James H. Adams & Co. of Los
—a basis of about 4.359%.
p.
63,
were
Angeles at 101.75
Big Flats, Chemung County, N. Y.—Bond Offering.—
Proposals will be received until 7p.m. Jan. 20 by Dr. E. H.
Wakelee, Town Supervisor (P. O. Big Flats), for $10,155 60
4%% coupon highway improvement bonds.
Denomination $1,000.
Date
Feb.
1910.
1
County Treasurer’s office.
Interest annually at the
Maturity $2,000 yearly, beginning Feb. 1 1922.
Certified check for 10% of amount bid Is required.
Broken Arrow, Tulsa
County, Okla.—Bond Bids Rejected.
—We are advised that all bids for the $37,000 5% coupon
water-works bonds described in V. 90, p. 123, were rejected
on Jan. 10.
Byesville, Guernsey County, Ohio.—Bond Offering.—
Proposals will be received until 12 m. Jan. 17 by E. E.
Green, Village Clerk, for $25,800 5% coupon street-improve¬
ment assessment bonds.
Authority Section 95a, Municipal Code of 1902.
Denominations $500.
Date Oct. 1 1909.
Interest seml-annuaUy at the Village Treasurer’s office.
Maturity part yearly
Oct. 1 from 1910 to 1919 Inclusive.
on
empt from all taxes.
Certified check for $1,000, payable
chaser to pay accrued
interest.
Village Treasurer, Is required.
Bonds are
ex¬
to B. F. Lee,
Delivery within ten days of award. Pur¬
Chicago Sanitary District, HI.—Bond Sale.—The $2,500,4% coupon bonds described in V. 90, p. 63, were dis¬
posed of Jan. 10 at 98.907 to a syndicate composed of the
Farwell Trust Co., Hibernian Banking Association, N. W.
Halsey & Co. and Wm. A. Read & Co., all of Chicago. A
000
list of the bids received follows:
,
Farwell Trust Co., Hibernian Banking Association,!
N. W. Halsey & Co., Wm. A. Read & Co
/Chicago
$2,472,675
First Trust & Savings Bank, Illinois Trust & Sav-1
lngs Bank, A. B.' Leach & Co., Merchants’ Loan [Chicago
2,427,255
& Trust Co., Harris Trust & Savings Bank
J
Thos. J. Bolger Co., Chicago._ f$200,000 due 1911,1912 & 1929
196,304
l 250,000 due 1928 & 1929
243,425
$50,000 due 1922.
48,7 60
Chloago Title & Trust Co., Chic. -{50,000 due 1923
48,690
50,000 due 1924
48,625
150,000 due 1925
48,560
Well, Roth & Co., Cincinnati-./$62,000 due 1920
60,933
l 63,000 due 1920-.61,601
Morton D. Cahn, Chicago
1928
$10,000, 1927 or
9,862
Maturity on Dec. 1 as follows: $250,000 in 1911 and $125,000 yearly from
1912 to 1929 inclusive.
Clayton, Jefferson County, N. Y.—Bond Sale.—The
$18,000 4% bridge bonds mentioned in V. 89, p. 1496, have
been sold to the First National Bank of Clayton. Denomina¬
tion $1,000.
Cleveland, Ohio.—Bond Election.—An election will be
held on Feb. 17 to vote upon propositions to issue $2,000,000
Cuyahoga River Bridge and $2,400,000 city-hall-building
bonds.
Annexation
The Cleveland
of East Cleveland and Lakewood Proposed.—
City Council on Jan. 10 adopted a resolution
calling on the City Clerk to request Councils of East Cleveland
and Lakewood to submit the question of annexation to the
voters of these villages.
Bonds Authorized.—On Dec. 20 1909 the City Council
authorized the issuance of $275,000 4% coupon waterworks-refunding bonds.
Denomination $1,000.
Date Feb. 1 1910.
Interest semi-annually at
the American Exchange National Bank In New York City.
Maturity
Maroh 1 1921.
Coalinga School District, Fresno County, Cal.—Bond
Sale.—On Jan. 4 C. E. Woodside & Co. of Los Angeles were
awarded $60,000 6% bonds, it is stated, for $64,100—the
price thus being 106.833.
Denomination $1,000. Interest annual.
Dec. 17 from 1910 to 1921 Inclusive.
Colorado Springs,
Maturity $5,000 yearly
on
Col.—Proposed Bond Election.—Denver
state that the Park Commission has decided to call a
special election to amend the City Charter so that a vote
xnayjbe taken before the regular election in 1911 on the
papers
I.—Temporary Loan.
—A loan of $15,000 due July 6 1910 was negotiated on
Jan. 6 with Loring, Tolman & Tupper of Boston at
4.19%
discount.
Cuyahoga County (P. O. Cleveland), Ohio.—Bond Sale.—
following bids were received on Jan. 12 for the two issues
of 43^% coupon Miles Ave. No. 3
improvement bonds, de¬
The
scribed in V. 90, p. 124:
mentioned in V. 90, p. 63.
Authority, vote of 64 ’Tor” to 48 “against” at an election held Jan. 6.
Interest rate not to exoeed 5%.
Maturity part yearly beginning 1911.
LXXXX.
question of issuing bonds for the purchase of the South
Cheyenne Canon. The purchase price is said to be $217,500.
Colorado Springs School District No. 11 (P. O. Colorado
Springs), Col.—Bond Election Postponed.—Owing to an error
in the wording of the published notice, the
$250,000 schoolbond election which was to have taken place Dec. 18 1909
(V. 89, p. 1366) was not held. Another election has been
ksre
as follows £
Alleghany County (P. 0. Sparta), No. Oar.—Bond Sale.—
on
[VOL.
Prems.
on
$94,350
Prems.
on
$22,000
bonds.
bonds.
First National Bank, Cleveland-$2,376 00
$551 00
New First National Bank, Columbus
2,357 00
541 00
Cleveland Trust Co., Cleveland
2,321 00
492 80
Hayden, Miller & Co., Cleveland..
2,261 00
490 00
Ohio Savings Bank & Trust Co., Toledo..
2,258 80
Otis & Hough, Cleveland
2,145 00
487 00
Well, Roth & Co., Cincinnati
2,141 75
479 60
Western-German Bank, Cincinnati
2,068 60
484 10
C. E. Denison & Co., Cleveland
1,991 00
464 25
Tillotson & Wolcott Co., Cleveland
1,792 65
418 00
Breed & Harrison, Cincinnati
1,532 20
413 60
Maturity part of each Issue every six months from April 1 1910 to Oct. 1
1919 inclusive.
Des Moines School District (P. O. Des Moines), Iowa.—
Bond Election.—The question of issuing $400,000 East Side
High School bonds will be voted upon March 14.
Durant, Bryan County, Okla.—Bond Offering.—Proposals
will be received until 7:30 p. m. Jan. 18 by W. S.
Shannon,
City Clerk, for the following coupon bonds:
$10,000 5% bridge bonds.
Date Oct. 1 1909.
20,000 6% light bonds.
Date Feb. 1 1910.
20,000 6% water-extension bonds.
Date Feb. 1 1910.
Denomination $1,000.
Interest semi-annually at the State fiscal
agency
in New York City.
Maturity 20 years. Certified check for 3% of bid,
payable to the City of Durant, is required.
Eagle Lake, Colorado County, Tex.—Bonds Voted.—Re¬
ports state that the issuance of bonds for a school building
was authorized by a vote of 107 to 1 on Dec. 20 1909.
Exeter Union High School District,Tulare County,Cal.—
Bond Sale.—Reports state that $30,000 6% bonds were
sold
on
Jan. 4 to the First National Bank of Visalia for
$33,391—the price thus being 111.303.
Authority vote of 110 to 7 (V. 89, p. 1099) at election held in Oct. 1909.
Denomination $1,000.
Interest annual.
Maturity $2,000 yearly on
June 1 from 1914 to 1928 inclusive.
Findlay School District (P. O. Findlay), Hancock County,
Ohio.—Bond Election.—We
are informed that the election to
the question of issuing the $25,000
school-building
bonds will be held Jan. 19 and not Jan. 12, as reported in
V. 90, p. 124.
vote
on
Foss, Washita County, Okla.—Bond Offering.—Proposals
$22,000 water-works
will be received until 7 p. m. Jan. 17 for
and $7,000 electric-light 6% bonds.
Denomination $1,000.
Date Jan.
1
1910.
Interest
semi-annually In
New York City.
Maturity Jan. 1 1935.
Official notice states that the
town has never defaulted In payment of Its debts: also that there Is no liti¬
gation or controversy pending or threatened concerning the validity of
these bonds and that no previous Issues have ever been contested. Bonded
debt, this Issue.
Town Clerk.
Assessed valuation 1909, $264,000.
W. J. O’Hara is
Guernsey, Laramie County, Wyo.—Bond Offering.—Pro¬
posals will be received until Jan. 20 (to be opened
8p.m. Jan. 22) by Thos. A. Kinch, Town Clerk, for $20,000
water-works bonds at not exceeding 6% interest.
Denomination $500.
Interest
5% of amount bid Is required.
on
Jan. 1 and July 1.
Certified check for
Harris County Common School District No. 4, Tex.—
Bond Sale.—This district has sold $10,000 5% 20-40-year
(optional) bonds to the State Permanent School Fund at par
and accrued interest.
The securities were registered by the
State Comptroller on Jan. 5.
Harrison County (P. O. Logan), Iowa.—Bonds Voted.—
The election held Jan. 10 resulted in favor of the
proposition
to issue the $100,000 court-house bonds mentioned in V.
90, p. 124. The vote was 2,088 to 1,194.
Hemet Union High School District, Riverside County,
Cal.—Bond Sale.—On Jan. 5 the $40,000 5% coupon building
bonds described in V. 89, p. 1686, were sold to N. W. Halsey
& Co. of San Francisco at 108.78.
The following bids
were received:
I. W. Halsey & Co., San Fr.$43,512 First National Bank, Rivers.$42,059
Lmerican Sav. Bk., Los An. 42,922 C. E. Woodside & Co., Los A. 41,717
H. Adams & Co., Los An_ 42,710 G. G. Blymyer & Co., San Fr 41,028
7m. R. Staats Co., Los An_ 42,268
Maturltv 35.000 vearlv on Dec. 8 jrom 1925 to 1932
Inclusive.
.
Homerville, Clinch County, Ga.—Bond Election.—Re¬
ports state that an election will be held some time this month
to vote on a proposition to issue $8,000 school-building bonds.
Hudson, Columbia County, N. Y.—Bond Offering.—The
Mayor will sell the following 4% coupon or registered bonds
at
public auction at 1 p. m. Jan. 17:
refunding
$5,000 public-school
Feb. 1 1910.
bonds.
Denomination
Maturity Feb. 1 1920.
$1,000.
Date
-
8,900 Judgment refunding bonds.
Denomination $1,000. except one bond
of $900.
Date Feb. 18 1910.
Maturity on Feo. 18 as follows:
$900 In 1911 and $1,000 yearly from 1912 to 1919 Inclusive.
• >»J
5,000 street-improvement refunding loan bonds.
Denomination $1,000.
Date April 1 1910.
Maturity April 1 1921.
Authority Section 8 of Article 2, Chapter 24, Consolidated Laws. Inter¬
est semi-annually at the City Treasurer’s office.
Bonds are exempt from
all taxes.
Certified check for 2 % of par value of the bonds purchased must
be deposited with the City Treasurer.
Official notice states that the city
JAM. 15
1910.]
THE CHRONICLE
181
*
has never defaulted In the payment of any municipal obligations and that
there Is no Uttgatlon pending or threatened affecting the validity of the bonds
offered.
Huntington, Suffolk County, N. T.—Bond Offering.—
Proposals will be received until 2p.m. Jan. 27 by Edward S.
Ireland, Town Supervisor (P. O. Huntington), for $18,000
5% road-improvement bonds.
1926, $8,800 in 1927, $10,400 in 1928, $12,000 in 1929 and $12,800 in 1930.
Certified check for 2% of amount of bonds bid for, payable to the Board of
Directors, is required. Delivery of bonds Feb. 1.
Purchaser to pay ac¬
crued interest.
G. T. Hamil is Secretary of Board of Directors.
Nassau County (P. O. Mineola), N. Y.—Bonds
Refused.—
The $125,000 4% gold coupon road and bridge bonds
awarded on Aug. 2 1909 to N. W. Harris <fc Co. of New York
City (V. 89, p. 365) have been refused by that firm, there
being a question as to the county's authority under the
March 1 1010.
Interest semi-annually at the Town Supervisor’s office.
consolidated laws to issue bonds for bridge purposes. The
Maturity $2,000 yearly on March 1 from 1911 to 1919 Inclusive. Certfled
Board of Supervisors on Jan. 10 adopted resolutions
approv¬
check for $500, payable to the Town Supervisor, Is required.
Bonds will
ing a bill to be forwarded to the Legislature in order to obtain
be delivered March 1 1910.
the authority necessary to make the issue.
The official notice of this bond offering wiU appear
among the
New Castle, Lawrence County, Pa.—Bond Award Post¬
advertisements in this Department next week.
poned.—No action was taken on the bids received on Jan. 10
Jersey City, N. J.—Bond Sales in 1909.—During the year for the $30,000 4% 10-20-year (optional) coupon improvement
1909 this city placed $1,600,000 bonds, all bearing 4% inter¬ “Series 1910” bonds, described in V. 89, p. 1687.
They
est.
With the exception of $300,000 school bonds taken were referred to the Finance Committee, who was expected
at par by the Sinking Fund Commissioners, we have
previ¬ to hold a meeting yesterday, Jan. 14. At the hour of going
ously reported these sales. The issue of school bonds is to press we had not been advised what action had been
Authority Section 142, Highway Law.
Denomination $1,000.
Date
dated Oct. 19 1909 and due Oct. 15 1959.
Kansas City, Kan.—Bonds Offered by Bankers.—Spitzer
<fe Co. of Toledo are on the market with $100,000 5% internal-
improvement bonds.
Denomination $500.
Date Nov. 1 1909.
Interest Feb. 1 and Aug. 1
at the State Treasurer’s office In Topeka.
Maturity on Aug. 1 as follows:
$10,500 In 1910, $13,000 In 1911, $12,500 In 1912, $10,500 In 1913, $11,000
In each of the years 1914, 1915 and 1916, $7,000 In each of the
years 1917
and 1918 and $6,500 In 1919.
Kansas City, Mo.—Bond Election.—An election will be
April 5 to vote upon a proposition to issue about $2,-
held
750,000 4% 20-year bonds.
Knoxville, Tenn.—Bond Sale.—This city has disposed of
$26,000 6% 5-year street-improvement bonds to contractors
in payment for work done.
Lexington Township (P. O. Lexington), Davidson County,
No. Caro.—Bond Sale.—A. J. Hood & Co. of Detroit are re¬
ported as being the successful bidders on Jan. 3 for the $50,000 5% 30-34-year (serial) coupon road bonds described in
V. 89, p. 1686.
It is stated that they paid 101.40 and also
all expenses of issuing the bonds.
Lowell, Mich.—Bond Sale.—The following bonds, pro¬
posals for which were asked until Aug. 2 1909, were sold on
Aug. 23 1909 to W. E. Moss & Co. of Detroit:
$13,500 4% city-hall bonds awarded at par less a discount of $100.
De¬
nomination $500.
Maturity part yearly from 1922 to 1935
inclusive.
5,000 5% lighting
bonds awarded at par. Denomination
Maturity part yearly from 1911 to 1916 Inclusive.
Date Sept. 15 1909.
Interest semi-annual.
$1,000.
Mand&n, Morton County, No. Dak.—Bond Election.—An
on a proposition to issue
$10,000 artesian-well-refunding bonds. It is expected that
these bonds, if voted, will be taken by the State of North
election will be held Jan. 18 to vote
Dakota
as
4s.
Milan School District No. 1 (P. O. Milan), Washtenaw
taken.
Omaha, Neb.—Bond Offering.—Proposals will be received
Jan. 20 for $179,000 4}$% coupon improvement
until 3 p.m.
bonds.
Denomination $500.
Date Jan. 1 1910.
Interest annually at the State
fiscal agency in New York City.
Maturity as follows: $2,000 In 1912,
$11,500 in 1913, $14,000 in 1914, $15,500 la 1915. $19,560 in 1916,
$17,500 in 1917, $23,000 in 1918 ana $79,000 in 1919. Certified check on a
national bank lot $2,500, payable to the City of Omaha, is required. Pur¬
chaser to pay accrued interest.
Official advertisement states that the city
has never defaulted in the payment of
principal or interest and that there
Is no
issue.
litigation pending or threatened affecting the validity of this bond
Frank A. Furay is City Treasurer.
Pike County (P. O. Petersburg), Ind.—Bond Sale.—An
issue of $25,000 4% funding bonds was awarded on Jan. 1 to
J. W. Brumfield and the First National Bank of
Petersburg
at 100.584.
..
Denomination $5,000.
Interest annually on Jaa. 1.
yearly on Jan. 1 from 1911 to 1915 inclusive.
Maturity $5,000
Pittsburg, Crawford County, Kans.—Bond Sale.—The
Commerce Trust Co. of Kansas City, Mo., purchased $40,000
43^% 30-year park-improvement bonds on Dec. 13 1909 at
101.75—a basis of about 4.395%.
Denomination
Date Jan. 1 1910.
Interest semi-annual.
$1,000.
Pittsfield, Berkshire County, Mass.—Bond Offering.—
Proposals will be received until 3 p. m. Jan. 18 by F. M.
Platt, City Treasurer, for the following 4% coupon bonds:
$33,000 water bonds.
Date Nov. 1 1909.
Maturity $5,000 yearly on
Nov. 1 from 1910 to 1915 Inclusive and $3,000 in 1916.
Date Nov. 1 1909.
Maturity $5,000 yearly on
Nov. 1 from 1913 to 1932 Inclusive.
142,000 school bonds.
Date Dec. 1 1909.
Maturity $10,000 yearly on
Dec. 1 from 1910 to 1923 inclusive and $2,000 In 1924.
Denomination $1,000.
Interest semi-annually at the City Treasurer’s
offioe In Pittsfield or at the City Trust Co. In Boston.
Bonds are exempt
from taxation in Massachusetts.
They will be certified as to genuineness
bv the City Trust Co. of Boston, which will further
certify that the
of the Issue Is approved by Storey, Thorndike, Palmer 6c Thayer of legality
Boston,
a copy of whose
opinion will be delivered without charge to the buyer.
100,000 water bonds.
Coupon bonds
may
be exchanged for registered bonds
at
option of holder.
Rochester, N. Y.—Note Sale.—On Jan. 10 $100,000 localCounty, Mich.—Bond Sale.—The $9,000 4% refunding bonds
offered on Dec. 17 1909 and described in V. 89, p. 1555 have improvement and $291,000 tax notes were awarded to
Kountze Bros, of New York City at 4%% interest.
been sold to Elmer Minzey at par.
The
Maturity $900 yearly
bids were received:
following
from 1910 to 1919 inclusive.
Kountze Bros., New York—$100,000 and $291,000 notes at 4
34% Interest.
Milford, Seward County, Neb.—Bond Election.—An elec¬ Bond & Goodwin, New York—iX% interest and $111 premium.
6c
Goldman,
Sachs
Co.,
New
York—$100,000 notes at 4H% interest and
tion will be held Jan. 18 to vote upon propositions to issue
$16 50 premium and $291,000 notes at 4 54% Interest and $7 50 premium.
$13,000 water and $7,000 electric light 5% 5-20-year (op¬ Parkinson & Burr, New York—$100,000 notes at 4M% Interest
and $6
premium and $291,000 notes at 4.70 Interest and $8 premium.
tional) bonds.
W. N. Coler & Co., New York—4 54% interest.
Alliance Bank, Rochester—$100,000 notes at 5 H% interest.
Minneapolis, Minn.—Bond Sale.—The $25,000 4% 30-year Genesee
Valley Trust Co., Rochester—$100,000 notes at 5)4% Interest.
coupon fire-department bonds described in V. 89, p. 1614,
Rutherford School District (P. O. Rutherford), N. J.—
were sold on Jan. 6 to Seasongood &
Mayer of Cincinnnti at
101.38 and accrued interest—a basis of about 3.922%. Bond Offering.—Further details are at hand relative to the
The following bids were received:
offering on Jan. 17 of the $86,300 43^% coupon bonds
mentioned in V. 90, p. 127.
Wells
&
Seasongood
&
Mayer,
Proposals will be received un¬
Dickey
Co.,
Cincinnati
til 8 p. m. on that day by C. P.
$25,345 00
Minneapolis
$25,126 76
Perham, District Clerk.
Kane 6s Co., Minneapolis. 25,282 59 Union Invest. Co., Minn. 25,100 00
C. E. Denison & Co., Clev.
R. L. Day 6c Co., Boston.
E. H. Rollins & S^ns, Chic.
N..W. Halsey & Co., Chic.
25,168
25,147
25,144
25,140
00 Brighton-German Bk., CIn.25,076 00
25 A. B. Leach 6c Co., Chic. 25,027 00
43 Northwestern Nat. Bank,
00
Minneapolis
25,000 00
Moscow, Latah County, Idaho.—Bond Offering.—Pro¬
posals will be received up to and including Jan. 20 by J. R.
Strong, City Clerk, for $16,000 6% gold coupon refunding
water-works bonds.
Authority Chapter 12, Title 13, Political Code,
amended by an Act
Denomination $1,000.
approved March 13 1909.
Date Jan. 1 1910.
Interest semi-annually at the City Treasurer’s office or at the Chemical Na¬
tional Bank in New York City.
Maturity 20 years, subject to call after 10
as
years.
Mt. Sterling, Montgomery County, Ky.—Bond
Offering.—
Further details are at hand relative to the offering on Jan. 18
of the $50,000 5% gold coupon
sewer-system-completion
bonds mentioned in V. 90, p. 126.
Proposals will be received
until 2 p. m. on that day by H. M. Ringo, City Clerk.
Denomination $500.
Date Jan. 15 1910.
Interest June 15 and Dec. 15
City Treasurer’s office. Maturity on Dec. 15 as follows: $1,500
yearly from 1910 to 1913 Inclusive, $2,000 yearly from 1914 to 1918 inclus¬
ive, $2,500 yearly from 1919 to 1923 inclusive, $3,500 yearly from 1924 to
1928 inclusive and $4,000 in 1929.
Bonds are exempt from city tax.
There is no bonded debt at present.
Floating debt, $4,000.
Assessed
valuation 1909, $2,150,000.
Real value (estimated), $3,500,000.
Bid to
be made on blank form furnished by R. G. Kern.
Certified check for 2%
of bid, payable to C. B. Patterson, City Treasurer,
is required. Purchaser
to pay accrued Interest.
at the
Nampa & Meridian Irrigation District, Ada and Canyon
Counties, Ida.—Bond Offering.—Proposals will be received
until 2 p. m. Jan. 17 for $80,000 6%
tax-exempt coupon
canal-lining bonds.
Authority, Title 14, Sections 2372 to 2443, Revised
Denomination $100 to $1,000.
Date Jan. 1 1910.
Statutes of 1909.
Interest semi-annually
York City. Maturity $4,000 in 1921,
$4,800 In 1922, $5,600 In 1923, $6,400 in 1924, $7,200 in 1925, $8,000 In
at the Chase National Bank in New
Denomination $1,000, except one bond of $300.
Date Feb. 1 1910.
In¬
semi-annually at the Rutherford Natlo xal Bank. Maturity Feb. 1
1950.
Bonds ar<; tax-free.
terest
San Angelo, Tom Green County, Tex.—Rids
Rejected.—
The following bids, all of which were
rejected, were received
on Jan. 3 for the $15,000
5% 20-40-year (optional) centralfire-station bonds described in V. 89,
p. 1557.
A. J. Hood & Co.,
Dallas Trust 6c
Detroit.$15,206 00 S. A. Kean 6c Co., Chicago $15,165 00
Savings
Weil, Roth 6c Co., Cin¬
Bank, Dallas
15,192 00
cinnati
15,152 10
Ulen, SutherlinA Co.,Chic. 15,167 00 C. H. Coffin, Chicago
15,151 00
Bond Sale.—An issue of $15,000 5%
20-40-year (optional)
water-works bonds, which was registered
by the State Comp¬
troller on Jan. 3, has been purchased by the State Perma¬
nent School Fund at par and accrued interest.
Sidney, Delaware County, N. Y.—Bond Sale.—An issue
$15,500 municipal-building bonds was awarded on Jan. 4
to the Sidney National Bank of
Sidney at par for 4s. The
following bids were also received:
of
Douglas Fenwick * Co, New York
$15 519 00 for 4.35s
Adams 6c Co., New York
15,517 00 for 4.40s
Isaac W. Sherrill, Poughkeepsie
15,505 00 for 4.40s
Edmund Seymour 6e Co., New York
15,505 50 for 4.50s
N. W. Harris 6c Co., New York
15,518 00 for 4 70s
First National Bank, Cleveland
I™:::: 15,507 75 for
Denomination to suit purchaser.
Date, day of Issue. Interest March
and September 1.
Maturity part yearly on Sept. 1 from 1910 to 1929
Inclusive.
2:75s
fH-itdl
South Newburgh (P. O.
Cleveland), Cuyahoga County,
Ohio.—Bond Sale.—The $5,000 5%
coupon Warner Roaa
improvement bonds described in Y. 89, p. 491, were awarded
on Aug. 30 1909 to the First
National Bank of Cleveland at
102.28.
Maturity part yearly on May 15 from 1911 to 1915
nclusiye.
183
THE CHRONICLE
South Paris, Me.—Bonds Awarded in Part.—Of an issue
of $68,000 4% water-system bonds $20,000 have been award¬
ed at par to the Paris Trust Co. of South Paris.
This trust
company is acting as agent for the village in the sale of the
remainder of the issue ($48,000) and they advise us under
date of Jan. 13 that “there remains to be sold now about
$35,000.”
The $20,000 bonds sold to the trust company are In denomination of $100
each; of the remainder $25,000 are for $500 each and $23,000 for $1,000
each.
Date Oct. 1 1909.
Interest semi-annually at the Paris Trust Co.
Maturity Oct. 1 1929. Bonds are tax-exempt.
South San Joaquin Irrigation District (P. O.
San Joaquin County, Cal.—Bonds Voted—Bond
Manteca),
Offering.—
A proposition to issue $1,875,000 5% 30-year irrigation
bonds carried by a vote of 329 to 67 at an election held
Dec. 30 1909.
The bonds are now being offered for sale.
Spring Greek Drainage District (P. O. Joliet), Will
County, HI.—Bond Sale.—An issue of $21,530 70 bonds has
been purchased by property owners in this district.
Sutter County Levee District No. 1, Cal.—Bond Sale.—It
is
reported that $81,000 bonds have been disposed of.
Tacoma, Wash.—Suburbs Favor Annexation.—At an
election held Jan. 8 suburbs of Tacoma having an area of
105 square miles voted in favor of annexation to that city.
It is said that it is planned to annex all the territory between
Tacoma and Milton, 6 miles east, Puyallup, 9 miles south¬
east, Spanaway, 11 miles south, and Steilacoom, 11 miles
southwest.
In December, 6 square miles between Tacoma
and Fern Hill were annexed and it is expected that between
and March elections will be called to vote on the annexa¬
of the incorporated cities of Milton, Puyallup and
Steilacoom. The annexation movement is the result of the
action of Tacoma Railway & Power Co. in increasing the
fares outside of the city limits.
now
tion
Therm&lito Union School District, Butte County, Cal.—
Bond Sale.—It is reported that Jas. H. Adams & Co. of San
Francisco were awarded the $10,000 5% 1-10-year (serial)
gold school bonds offered on Jan. 3 and described in V. 90,
p. 65.
The price paid was 101.65.
NEW LOANS.
$
[VOL.
LXXXX
Troy, N. Y.—Bond Offering.—Proposals will be received
a. m. Jan. 15 by Hiram W. Gordinier,
City Comp¬
troller, for the following registered public-improvement
bonds: $80,000 4}^% bonds of 1908 and $158,372 4% bonds
of 1909.
mi
until 11
Date Jan. 15 1910.
Interest semi-annual.
Maturity one-twentieth of
each Issue yearly.
Certified check for 1% of bonds bid for, payable to the
City of Troy, is required. Purchaser to pay accrued interest.
Bids must
be made upon blanks furnished by the City Comptroller.
Temporary Loan.—On Jan. 13 $100,000 5% 8-months
were sold to Kountze Bros, of New York City
certificates
at 100.416.
University City (P. O. St. Louis), Mo.—Bonds Offered by
Bankers.—The Wm. R. Compton Co. of St. Louis is offering
to investors an issue of $100,000 5% gold city-hall, fire-
equipment and bridge bonds.
Denomination $1,000.
Date Jan. 1.1910.
Interest semi-annually at
Bank in St. Louis.
Maturity Jan. 1
1930, subject to call after Jan. 1 1920.
Total debt this Issue.
Assessed
valuation for 1908 $2,529,630.
Real value (estimated) $10,000,000.
the Mechanics-American National
Vernon Township, Crawford County, Ohio.—Bond Sale.—
Hayden, Miller & Co. of Cleveland have purchased $1,500
4^% bonds. Interest semi-annual. Maturity $500 on
Aug. 1 in each of the years 1911 and 1912 and $500 on Feb. 1
1912.
These securities take the place of the $12,500 bonds
(Y. 89, p.742,) disposed of last September to Hayden, Miller
& Co., but which were subsequently refused by them as
being illegal.
Walterboro, Colleton County, So. Car.—School Bond Case
Decided by Supreme Court.—The State Supreme Court has
denied an application for an injunction to restrain the issu¬
ance of the $20,000 5% coupon school bonds offered on
Aug. 25 1909. See Y. 89, p. 492, for description of these
securities.
Warren, Trumbull County, Ohio.—Bond Election Post¬
poned.—The election which was to have been held Jan. 15
to vote on the issuance of $250,000 bonds for a municipal
water plant (V. 90, p. 129) has been postponed indefinitely.
Washington.—Bond Sale.—On Jan. 3 $200,000 3^% 20year bonds were disposed of to the State Permanent School
Fund.
Waterbuxy, Conn.—Bond Sale.—The $100,000 4% coupon
(with privilege of registration) water bonds described in
NEW LOANS.
NEW LOANS.
1,000,000
$200,000
$500,000
STATE OF MARYLAND The City of Seattle, Wash. The City of Seattle, Wash.
TREASURY DEPARTMENT.
Annapolis, January 3rd, 1910.
General Municipal
.
THE STATE ROADS LOAN.
Sealed proposals will be received by the under¬
signed until twelve (12) o’clock
noon on
Saturday,
The undersigned, Governor, Comptroller and
Treasurer of the State of Maryland, in pursuance
•f an Act of the General Assembly of Maryland of
1903, Chapter 141, will receive proposals for
$1,000,000 Series “C” of the said Loan.
“The State Roads Loan” will be dated Febru¬
ary 1, 1910, bear interest from said date at the
rate of Three and One Half Per Centum
per
annum, payable semi-annually on the first day of
August and February In each and every year,
ana
the principal will be redeemable at the
pleasure of the State after the first day of Febru¬
ary in the year 1920, and the whole debt will be
payable on the first day of February, 1925.
The debt is exempted from State, county and
municipal taxation and will be issued in bond
January 29, 1910, for the purchase of $200,000
BEFORE 12 O’CLOCK NOON OF THE FIRST
DAY OF FEBRUARY, 1910, and must have
endorsed on the back of the envelope "Proposals
for the State Roads Loan.”
Each bid must be
accompanied with a certified check on some
responsible banking institution for 10 per cent
of the amount of such bid, and the same will be
opened In the office of the State Treasurer, in
the City of Annapolis, at 12 o’clock noon, Febru¬
ary 1st, 1910, In the presence of the undersigned.
On the opening of such proposals so many of
said coupon bonds as have been bid for, not
exceeding, however, the amount for which pro¬
posals are Invited, may be awarded by said Gov¬
ernor, Comptroller of the Treasury and Treasurer,
or a majority of them, to the highest
responsible
bidder or bidders for cash; and when two or more
bidders have made the same bid, which bids are
the highest, and if the amounts so bid for by the
highest responsible bidders are in excess of the
whole amount of the said bonds so offered for
sale, then such bonds may be awarded to such
premium on said bonds at the stated maximum
rate, or by offers to take said bonds at a rate lower
than the stated maximum rate, or by offers of
premium on said bonds at a rate lower than the
form, with coupons attached.
Said proposals must be delivered, sealed, to
the Treasurer of the State, at Annapolis, ON OR
highest responsible bidders bidding the same price
in the proportion which the amount each has bid
for bears to the whole amount of said bonds so
offered for sale.
These bonds will be Issued in the denomination
of $1,000 and subject to registration as to prlnclpa
and no bid for less than par will be accepted.
The right Is reserved to reject any and all bids.
AUSTIN L. CROTHERS,
Governor.
J. W. HERING,
Comptroller of the Treasury.
General Municipal Light Extension Bonds, being
a portion of the $800,000 voted
at the special
election held in the City of Seattle on the 29th day
of December, 1908, under and by virtue of Ordi¬
No. 19605.
Said bonds to be issued in denominations of
$1,000 each and to bear date as of the date of their
actual issue to the successful bidder.
Said bonds shall be payable twenty (20) years
from the date of their issuance, and shall bear
interest at a rate not to exceed four and onehalf (4 Y) per cent per annum, interest payable
semi-annually, and interest coupons for the pay¬
ment of such Interest semi-annually will be attached
to said bonds.
Both principal and Interest pay¬
able at the fiscal agency of the State of Washington
In New York City.
Bidders may bid for said bonds by offers of
nance
stated maximum rate.
Bids must be accompanied by a certified check
on some solvent bank In the City of Seattle, pay¬
able to the undersigned, for $7,500, which will be
returned if the bid is not accepted.
If accepted,
the amount of the check will be applied upon the
purchase price of the bonds, or if bid be not com¬
plied with the check shall be forfeited to the City
of Seattle.
All bids will be
opened and considered by the
authorities in the office of the City
Comptroller on Saturday, January 29, 1910, at
corporate
twelve (12) o’clock noon.
The right Is reserved to reject any or all bids.
Further particulars will be given by the under¬
signed
upon
■STAB LI SB SD 1S85
H. C.
Speer & Sons Co.
First Nat. Bank B14fM Chl<
CITY, COUNTY
AND SCHOOL
PHNinQ
UUiNDD
.
Sealed proposals will be received by the under¬
signed until twelve (12) o’clock noon on Saturday,
January 29, 1910, for the purchase of $500,000
General Park Bonds of the City of Seattle, being
the remainder of the $1,000,000 voted at the special
election held In the City of Seattle on the 29tn
day
of December, 1908; under and by virtue of Ordi¬
No. 19606.
bonds to be issued in denominations of
$1,000 each and to bear date as of the date of their
actual Issuance to the successful bidder.
Said bonds shall be payable twenty (20) years
from the date of their issuance, and shall bear
interest at a rate not to exceed four and one-half
nance
Said
(4 Yx) per cent per annum, interest payable semi¬
annually, and interest coupons for the payment of
such interest semi-annuaily will be attached to
said bonds.
Both principal and Interest payable
at the fiscal agency of the State of Washington in
New York City.
Bidders may bid for said bonds by offers of
premium on said bonds at the stated maximum
rate, or by offers to take said bonds at a rate lower
than the stated maximum rate, or by offers of
premium on said bonds at a rate lower than the
stated maximum rate. Bids must be accompanied
by a certified check on some solvent bank in the
City of Seattle, payable to the undersigned, for
$12,500, which will be returned If the bid Is not
accepted.
If accepted, the amount of the check
will be applied upon the purchase price of the
bonds, or If bid be not complied with check shal
be forfeited to the City of Seattle.
All bids will be opened and considered
by the
corporate authorities In the office of the City Comp¬
troller on Saturday, January 29, 1910, at twelve
(12) o’clock noon.
The right Is reserved to reject
any or all bids.
nj|
Further particulars will be given by the under¬
signed upon application.
Dated Seattle, Washington, December23,1909.
application.
Dated Seattle, Washington, December 23, 1909.
H. W. CARROLL,
City
H. W. CARROLL,
Comptroller and ex-officlo City Clerk.
Date of first
publication December 25,
1909.
City Comptroller and ex-officio City Clerk.
Date of first publication December 25, 1909.
MUNICIPAL AND RAILROAD
FORREST & CO.
BONDS
BANKERS
LIS* ON APPLICATION
Municipal and Seasoned
Corporation Binds
SEASONGOOD & MAYER,
Mfoattb
FREE OF TAX
MURRAY VANDIVER,
Treasurer.
General Park Bonds
Light Extension
Bonds
ttl CHESTNUT.ST..
John
Library Building
cnromiATi
PHILADELPHIA. PA
H. Watkins
McGOY & COMPANY
Fenoarty MaoDon*ld, MeOoy A cto.
MUNICIPAL
AND
RAILROAD BONDS
No. 3 WALL STREET,
NEW TORE
181
Municipal and
Corporation Bonds
La Salle Street, - Chicago
Jan. 15
THE CHRONICLE
2J10.|
V. 89, p. 1616, were awarded on Jan. 10 to Kountze Bros, of
New York City at 100.18 and accrued interest. The follow¬
ing bids
were
also received:
Blodget JMerritt & Co., Bos.$100,1441R. L. Day & Co., Boston ...$100,069
Merrill, Oldham & Co., Bos. 100,139]
Maturity $10,000 yearly on Jan. 1 from 1920 to 1929 Inclusive.
Waterloo, Blackhawk County, Iowa.—Water Bonds Voted.
special election held Jan. 2 resulted in favor of the issu¬
ance of bonds for the purchase of the plant of the Waterloo
Water Co. and the extension of the same.
The vote, accord¬
ing to local papers, was as follows:
—A
Shall the city Issue bonds for $362,347 98 to buy the plant? Majority 451.
Shall the city issue bonds for $162,652 02 to make extensions?
Major¬
ity 467.
The above bonds,
aggregating $525,000, are being offered
by Reynolds, Watson & Co. of Chicago at prices
netting 4>6%. The issue is coupon in form and bears 4 y2%
interest, payable semi-annually at the City Treasurer’s office.
Denomination $1,000.
Date Jan. 15 1910. Maturity on
Jan. 15 as follows: $25,000 in 1915, $75,000 in 1920, $100,000
in 1925 and $325,000 in 1930.
Delivery on or about Jan. 20.
to investors
The bonds
are
tax-free in Iowa.
Wellsville, Columbiana County, Ohio.—Bond Sale.—The
eight issues of 5% improvement bonds, aggregating $25,260 40, offered on Jan. 10 and described in V.
90, p. 129,
were awarded on that day to Weil, Roth & Co. of Cincinnati
at 109.055 and accrued interest.
Well, Roth & Co., Cine...$27,547
First Nat. Bank, Cleve
27,467
Security Sav. Bk., Toledo 27,392
Hayden, Miller&Co., Clev. 27,376
Otis & Hough, Cleveland. 27,281
Seasongood & Mayer, Cln. 27,192
75
40
40
40
40
15
The bids
were as
follows:
Ohio Sav. & Tr.
Co., Tol_.$27,145 40
Tillotson&Wolcott, Cleve. 26,961 08
W. R. Todd & Co., Clnc__ 26,699 40
Farson & Son, Chicago._. 26,530 40
New First Nat. Bk., Col__ 26,339 40
Breed & Harrison, Clncin. 26,217 20
Winfield School District (P. O.
Winfield), Cowley County,
Eans.—Bond Sale.—An issue of $74,000 4>£%
20-year
school-building bonds was sold on Dec. 16 1909 to the
Commerce Trust Co. of Kansas City, Mo., at 100.50.
De¬
nomination $1,000.
Date Jan. 1 1910. Interest semi¬
annual.
Worcester, Mass.—Temporary Loan.—On Jan. 13 $150,000
temporary loan notes, due Oct. 14 1910, were awarded to
the Suffolk Savings Bank for Seamen and others at
3.88%
discount.
NEW LOANS.
8 160,000
City of Beaumont,Texas
5% BONDS
Sealed bids will be received by the City Council
City of Beaumont, Texas, from JANUARY
15TH, 1910, to MARCH 1ST. 1910, at 10 a. m.,
the
for
purchase of all, or any part of $160,000
bonds, as follows, to-wit:
$100,000 School House Building and
Repair Bonds
50,000 Sewerage Bonds
10,000 Street Improvement and
Repair Bonds
All of said bonds being of the denomination of
$1,000 each, dated December 1st, 1909, maturing
December 1st, 1949, subject to the right of the
City to redeem all or any part of said bonds at
any time after twenty years from the date thereof,
at par and accrued Interest, and bearing Interest
at the rate of 5% per annum, payable semi¬
annually on the 1st day of June and 1st day of
December of each year.
The principal and
Interest are payable In lawful money of the United
States of America, at the office of the City Treas¬
urer,
Beaumont, Texas, or at the Hanover
National Bank, New York City, N. Y., at the
option of the holder.
Each bid must be made on blank form furnished
a duly
certified check on one of the banks of the City of
Beaumont for Two Per Cent of the par value of
the bonds bid for.
The bid should be In sealed
by the city, and must be accompanied by
envelope
marked “Bids for City Bonds,” and
addressed to J. G. Sutton, City Secretary, Beau¬
mont, Texas.
The bids to be considered must be filed by him
on or before Tuesday, March 1st, 10 a. m., 1910.
The right Is reserved by the city to reject any
and all bids.
J. G. SUTTON,
Canada, Its Provinces and Municipalities.
Amherstburg, Ont.—Debentures Voted.—This place has
voted to issue $20,000 school debentures.
Brampton, Ont.—Debentures Voted.—The election held
Jan. 3 resulted in favor of the proposition to issue the $40,000
4Y2% 30-year electric-light debentures mentioned in V. 90,
66.
Bruce County (P. O. Walkerton), Ont.—Debentures Pro¬
posed.—A meeting of the Council will be held Jan. 26, it is
reported, to consider a by-law providing for the issuance of
$20,000 4)^% 20-year bridge-rebuilding debentures.
Calgary, Alberta.—Debenture Offering.—The Clerk writes
us that this city has placed the following
4J^% debentures
on the London market for subscription: $688,000 due in
30 years and $896,200 due in 20 years.
The debentures are
p.
dated Jan. 1 1910.
Garberry, Man.—Debenture Offering.—Proposals will be
5% local-improvement
received until Jan. 31 for $2,980 50
debentures.
Date March 1 1910.
Is
Secretary-Treasurer.
Oape May County, N. J.
REFUNDING BONDS.
election.
Elstow, Sask.—Debenture Sale.—The $2,000 6% improve¬
ment debentures mentioned in V. 89, p. 1373, were awarded
on Oct. 30 1909 to the Ontario Securities Co. of Toronto at
102.80.
Denomination $200.
Date Jan. 1 1910. Interest
annual.
Maturity 10 years.
Galt, Ont.—Debentures Defeated.—-The election held Jan. 3
proposition to issue the $3,000
43^% 20-year market debentures mentioned in Y. 89,ip.
1691.
The vote was 492 “for” to 801 “against.”
resulted in the defeat of the
NEW LOANS.
8
166,000
Bayou Terre-aux-Boeufs
Drainage District
Parish of St. Bernard, January 1st,
Board of Commissioners of
the
Terre-aux-Boeufs Drainage District will
bids for the purchase of Its bond Issue
Hundred
and
Sixty-Five
Thousand
The
Borough of Holly Beach City, N. J.
HARRY S. HEWITT,
Borough Clerk.
820,000
BOROUGH OF ROCHESTER,
Beaver Co., Pa.
BONDS
5% BONDS
1910.
Bayou
receive
of One
Dollars
($165,000) on or before TUESDAY, FEBRUARY
8TH, 1910, at 12 o’clock noon.
These bonds are in denominations of One
Thousand Dollars ($1,000) each, bear Five Per
Cent (5%) interest, interest payable
annually,
and made payable .Forty (40) years after their
date, with the option of redemption in numerical
order after Ten (10) years.
These bonds are issued In conformity
with
Article 281 of the Constitution of Louisiana, and
must be sold for not less than par.
Each bid Is to be
accompanied by a certified
check for Twenty-Five Hundred Dollars
($2,500),
payable to the order of the said Board of Com¬
missioners; the check of the successful bidder will
be retained and credited on the purchase
price
of the bonds; the checks of the unsuccessful bidders
will be returned to them.
The Board of Commissioners of the
Bayou
Terre-aux-Boeufs Drainage District reserves the
right to reject any and all bids.
For further Information, apply to B. F.
EstopInal, Secretary, St. Bernard, La., or to H. L.
Favrot, Attorney, ,608 Hennen Bldg., New
Orleans
The Town Council of the Borough of Rochester,
Beaver County, Pennsylvania, will receive bids
up to 7:30 P. M., MONDAY, JANUARY 17.
1910, for the purchase of $20,000 of the bonds
of said Borough, bearing interest at 4H%. free
from State tax.
Said bonds are in denomination
of $1,000, dated January 1,1910, interest
payable
semi-annually, falling due as follows:
One bond on January 1, 1932
One bond on January 1, 1933
Two bonds on January 1, 1934
Two bonds on January 1, 1935
Two bonds on January 1, 1936
Four bonds on January 1, 1937
Four bonds on January 1, 1938
Four bonds on January 1, 1939
with the option to said Borough of
redeeming
same at par and accrued 'interest at
any time
after January 1, 1932.
A certified check for $100 must
accompany
all bids.
Further Information may be promptly obtained
from the undersigned.
JAMES W. DONCASTER.
Secretary of Town Council.
Rochester, Pa.. January 5th, 1910.
CANADIAN
MUNICIPAL BONDS
W. A. MACKENZIE & CO.,
PERRY, COFFIN & BURR
Investment Bonds
60 State
Street, Boston
TORONTO, CANADA
F. WM. KRAFT
LAWYER
Specializing In Examination
of
Municipal and Corporation Bonds
U1S FIRST NATIONAL BANK BLDQJ
OHIO AGO, ILK.
to
certified check for the sum of Five Hundred
Dollars ($500.)
Bids will be opened Tuesday, January 25, 1910,
at eight o'clock P. M., in the Borough Hall.
Council reserves the right to reject one or all
bids whloh is to the best interest of the said
Geo. Balfour
Durham, Ont.—Debentures Voted.—A by-law guaranteeing
$15,000 debentures of the McGowan Milling Co. was favor¬
ably voted upon at a recent election.
Edmonton, Alberta.—Debentures Voted.—Bridge deben¬
tures amounting to $246,000 were authorized at a recent
Notloe Is hereby given that the Borough Council
of the Borough of Holly Beach
City, Cape May
County, N. J., will receive sealed bids for the
sale of Seventy-Three Thousand Dollars ($73,000)
5%, Thirty (30) year refunding bonds, according
Ordinance No. 80.
Eaoh bid to be marked proposal for the sale
of Bonds and to be addressed to Harry S. Hewitt,
Borough Clerk, and to be accompanied by a
years.
Cornwall, Ont.—Debenture Sale.—Wood, Gundy & Co. of
4^%
City Secretary,
City of Beaumont, Tex.
873,000
Borough of Holly Beach City,
Maturity part yearly for 20
Toronto were recently awarded an issue of $4,747
debentures. Maturity part yearly for 20 years.
NEW LOANS.
of the
183
Charles M. Smith & Co.
CORPORATION AND
MUNICIPAL BONDS
nan national bank building
OHIO AGO
Blodget, Merritt & Co.
BANKERS
60 STATE STREET* BOSTON
SO PINE STREET* NEW YORK
STATE, CITY * RAILROAD BONDS
184
THE CHRONICLE
Ganton School District, Alberta.—Debenture Sale.-*An
issue of $1,200 5)4% 10-year debentures was recently dis¬
posed of to H. O’Hara & Co. of Toronto.
Goderich, Ont.—Debentures Voted.—The election held
Jan. 3 resulted in favor of the proposition to issue the $15,000
5% debentures mentioned in V. 90, p. 66. The vote was
341 ‘‘for" to 256 “against.’' Maturity part yearly for 20
years.
We are advised that the debentures will be put on
the market about Feb. 1.
Grey County (P. O. Owen Sound), Ont.—Debentures Pro¬
posed.—Reports state that the County Council will meet
on Jan. 29 to consider a
by-law providing for the issuance of,,
$20,000 permanent-improvement debentures.
Hamilton, Ont.—Debentures Voted.—The election held
Jan. 3 (V. 89, p. 1691) resulted in favor of the propositions
to issue the following debentures: $200,000 4% 20-year
permanent roadway debentures, $50,000 4% 20-year
poliee-station debentures and $26,000 4)4% 20-year registryoffice debentures.
Kasimir School District No. 1981, Alta.—Debenture Sale.
—An issue of $1,500 534% school-building and equipment
was
recently awarded to Brent, Noxon & Co.
price thus being 101.466.
of Toronto for $1,522—the
Date Sept. 15 1909.
LXXXX
Manitou, Man.-—Debenture Offering.—Proposals will be
5% 20-year improvement
George T. Armstrong is
Village Clerk.
received until Feb. 1 for $15,500
debentures. Date Dec. 28 1909.
North Toronto, Ont.—Debentures Voted.—The voters of
this city recently authorized the issuance of $5,000
park
debentures.
North Vancouver, B. 0.—Price Paid for Debentures.—We
advised that the price paid for the $128,000 5% 40-year
are
Gopher Head School District, Alta.—Debenture Sale.—
Debentures amounting to $1,200 and bearing 5)4% interest
were recently awarded to Wood, Gundy & Co. of Toronto.
Maturity part yearly for 10 years.
debentures
[VOL.
Intefest annual.
Maturity part yearly for 10 years.
Lakefield School
District, Alberta.—Debenture Sale.—
H. O’Hara & Co. of Toronto have purchased $2,000 534%
10-year debentures.
Lindsay, Ont.—Debentures Voted.—By a vote of 430 to
306, this place on Jan. 3 voted in favor of a proposition to
issue $55,000 4% school bonds.
Maturity part yearly for
30 years.
ZJoydminster, Ont.—Debentures Voted.—At an election
held recently the ratepayers voted in favor of a proposition
to issue $15,000 6% 15-year loan debentures.
ferry bonds awarded
on Dec.
Geo. A. Stimson A Co.of
Date Nov. 9 1909.
27 1909 (V. 90, p. 130,) to
was $128,350 or 100.273.
Toronto,
Interest semi-annual.
Maturity Nov. • 1949.
Pelee Township, Ont.—Debenture Offering.—Proposals
will be received until Jan. 22 by Wm. Stewart,
Township
Clerk, for $1,681 5% debentures.
20 years.
Maturity part yearly for
Port Dover, Ont.—Debentures Voted.—It
recent election to issue
was
$10,000 debentures
decided at a
loan to an
as a
implement company.
Prescott, Ont.—Debentures Voted.—Sewer-extension de¬
bentures, aggregating $5,000, were favorably voted upon at
recent election.
a
Smith’s Falls, Ont.—Debentures Voted.—The issuance
of the following debentures, mention of which was made in
V. 89, p. 1501, was authorized at a recent election: $46,500
for a collegiate institute and $16,000 to
purchase Foster's
Mill for the water-works plant.
Thamesville, Ont.—Debentures Voted.—A by-law pro¬
viding for the issuance of $10,000 water-works debentures
was recently
adopted by the voters.
Waterloo, Ont.—Debentures Voted.—At an election held
recently the voters decided in favor of propositions to issue
$8,000 market and $6,000 gravel-pit 4>4% 20-year de¬
bentures.
Wingham, Ont.—Debentures Voted.***On Jan. 3 this place
voted to issue the following 4)4% 20-year debentures
mentioned in V. 90, p. 66: $6,000 for water-works and
$6,500 for sewers.
MISCELLANEOUS.
ACCOUNTANTS.
L. F. DOMMERIGH & CO.
Arthur Young & Co.
NEW YORK
Certifle* Public Accountants
General Offices, 57 Greene Street
(ILLINOIS)
New Yerk, 30 Pine Street
SOLICIT ACCOUNTS TO FINANCE
Milwaukee, 633 Wells Hide
Ghlcage, 1315 Dlenadneck Bleck
Kaneae City, 1106 Cenmeree Bldg.
DISCOUNT AND GUARANTEE SALES
CARRY NO GOODS FOR OWN ACCOUNT
0
.
'
LYBRAND,
ROS8 BROS k
MONTGOMERY
Adrian H. Muller & Son,
HUNT, SALTONSTALL l CO.,
Members New Verk Stock Exchange
Investment Securities
BO STATE STREET
BOSTON
AUCTIONEERS.
Certified Public Accountant*
Regular Weekly
Sales
OF
Land Title Building
(Penney 1 vanla)
PHILADELPHIA.
City Investing Bldg., 165 Broadway
NEW YORK.
STOCKS and BONDS
First Naitenal Bank Bldg.,
CHICAGO
EVERY WEDNESDAY
Office, No. 55 WILLIAM STBK1T,
JAMES PARK A CO.
Corner Pine Street.
CERTIFIED PUBLIC ACCOUNTANTS
BLACKSTAFF & CO.
INVESTMENTS
Now
THE AMERICAN MFG
Ct.
1SS2 Walnut Bferoot
tHTT.AniT.PWTA
MANILA, SISAL AND JUTS
LIST OF SPECIALTIES OR REQUEST
CORDAGE.
WE OWN AND
OFFER
Write fer PacUealem
ULEN, SUTHERLIN & 00.
•1? FlntNrt. leak BM|,CHICAGO, ILL.
AUDITORS
TOR
FINANCIAL INSTITU¬
TIONS. INDUSTRIAL AND
III NINO COMPANIES
Iaveadcatteas, Financial statements
Periodical Audits end
ALFRED ROSE & CO..
65 Wall Street,
New Y*rt IUHIUO PUBLIC AOOOUBTAVn
M Pin, Stmt,
MUNICIPAL BONDS
Tax Exempt Anywhere In the Unite# Stale*
York,Chisago, Cincinnati ami
London, England.
-
MEW YORK
TO^luu 42,1 Joi*.
Bank and Trust
NEW YORK
Company Stocks
AND BROOKLYN
BOUGHT AND SOLD
CLINTON GILBERT,
s
WALL ST.. NEW YORK.
LOOMIS. CON ANT & CO.
CERTIFIED PUBLIC ACCOUNTANT*
SO Broad Street* New York
TeL 49*8 Broad.
Jan. 15
THE CHRONICLE
1910.]
XXV
fgngtaeevs.
fftnatuclal.
H. M. By llesby & Co.
BANKERS TRUST COMPANY
Incorporated
7 WALL
ENGINEERS
STREET, NEW YORK.
Capital, $3,000,000
Surplus, $4,500,000
DESIGN, CONSTRUCT AND OPER¬
ATE RAILWAY. LIGHT, POWER,
HYDRAULIC AND GAS PLANTS.
EXAMINATIONS and REPOBTS
DIRECTORS
STEPHEN BAKER.
EDGAR L MARSTON.
SAMUEL Q. BAYNE.
Pres. Seaboard National Bank. N. Y.
EDWIN M BULKLEY.
Spenoer Trask A Oo., Bankers. N. Y.
GEORGE W. PERKINS,
Pres. Bank of the Manhattan Oo., N. Y.
Blair A Oo., Bankers, N. Y.
'
218 La Sails Street,
CHICAGO
Oklahoma City, Oklahoma,
Mobile, Ala.,
San Diego, CaL
VIoo-President. N. Y.
EDWARD F. SWINNEY.
Pres. First National Bank, Kansas City.
JOHN F. THOMPSON.
HENRY P. DAVISON.
J. P. Morgan A Co., Bankers. N. Y.
WALTER E. FREW.
Ylee-Pree. Corn Exchange Bank. N. Y.
WM. J. WELGUS,
M. Am. Soc.
■TOSNK&JKSHfc*
G.
E.
Formerly
Chief Engr., Chm., Elec. Traction
Com., and Vice-Pres. N. Y. C. A
H. R. RR. and Leased Lines.
COLIN M. INGERSOLL,
M. Am. Soc. C. E.
Formerly
Chief Engineer N. Y. N. H. A H.
RR.
Consulting Engineer on
Transportation, City of New York.
.
J. P. Morgan *Oo.. Bankers, N. Y.
WILLIAM H. PORTER.
Pres. Chemical National Bank, N. Y.
DANIEL G. REID,
Ylco-Pree. Libert]
BENJ. STRONG Jr..
New York
GILBERT 0. THORNE.
Bank, Chicago.
Yloo-Pree. National Park Bank, N. Y.
ssM&Kjesm. Bank, N. Y.
EDWARD TOWNSEND.
THOMAS W. LAMONT,
▼ice-President First National Bank* N. Y.
RATES W. M’QARRAH.
President Mechanics’ National Bank, N. Y.
ALBERT H. WIGGIN.
Vice-Pres. Chase National Bank, N. Y.
Pres.
Particular attention is called to the
company’s directorate.
Importers* A Traders’ National Bank, N.Y
b«*. *. v.
personnel, character and strength of this
interest is allowed upon deposits.
B. STRONB Jr., V.-P
F. N. H. CLOSE, Secy
H. F. WILSON Jr., Asst Sec»y.
J. F. THOMPSON, V
F. I. KENT, V -**.
5, O.
Pres.
POMEROY. Y.
E. CONVERSE.
r
•
H. W. DONOYAN, Trees.
-P.
Advisory Engineers
Railroad and Municipal Problems
Investigations and
Report*
IK BROADWAY
NEW YORK
I. G. WHITE & CO.,
Engineers, Contractors,
43-49 Exchange Place, NEW YORK
Chicago, Ills.
San Francisco, Cal.
Investigations and Reports on Electric
Railway, Gas, Electric Light and Power
Properties Irrigation Systems, Ac., for
Financial Institutions and Investors.
Kloctrlc
Railways, Electric Light and Powtr
Plants, Irrigation Systems Financed,
Designed and Built.
London Correspondents:
J. G. WHITE & CO., Limited,
9
Cloak Lane, Cannen St., E. C.
Bdmond C. Van Dlest
Robert McF. Dobl
Thomas L. Wilkinson
Associated
Engineers Co.
CENTRAL TRUST COMPANY
of NEW YORK
Ceniulting and Supervising Engineers
417
54
Century Building
ITth A Stoat Sts.,
REGISTER & CO..
Successors to
Street
Capital and Surplus, $18,000,000
Established 1889.
A. L.
Wall
DENVER. COLO.
(of which $ 17,000,000 has been earned)
Pepper A Register,
INGINEERS & GENERAL CONTRACTORS.
ill North Broad Street, Philadelphia.
putting Engineers.
H. M. CHANCE,
Authorized
to act
as
Executor, Trustee, Administrator
or
Guardian.
Receives Deposits, subject to check,
and allows Interest on Daily Balances.
Acts as Transfer Agent, Registrar and Trustee under Mortgages.
Consulting Mi ring Engineer andGeologiet
GOAL AND MINERAL PROPERTIES
Examined, Developed, Managed.
an Drcx.l Bid..,
PHILADELPHIA, PA.
financial.
The moet conservative bankers, broken
and investors have
constantly before
them
BABSON’S REPORTS
THE EQUITABLE TRUST GO.
OF NEW YORK
CAPITAL, $3,000,000
SURPLUS and UNDIVIDED PROFITS, $11,000,000
ON
Ftindamental Conditions
details concerning these Reports or out
’Business Barometers” (which we inatnii in banks
both for their own and customers’ use) address
Babsen’s Compiling Otfloet, Wellesley Hills. Maas.
ALVIN W. KRECH, President
15 Nassau Street
LAWHENCE L. GILLESPIE, Vice-Pies
618 Fifth Ave., near 50th St.
For
New York
office, 33 Broadway
Largest Statistical Organisation in the U. 8.
Checking Accounts with Interest
Trustee, Guardian, Executor, Administration of Estates
Foreign Exchange, Letters of Credit
Safe
Deposit Vaults
THE CHRONICLE
XXVI
[VOL.
Qvast <&ompKUits.
*.***•*■*■ — ■»»■*»*«**■»**■ ■
■
■*■*“**»*»*■»■■*»*•*■*
gettst ®jOrmfmtti««
*»*******^*A«>^***AAAA^^^
Mill statts Host Mm at lev Til
Union Trust
82,000,000.00
SURPLUS AND UNDIVIDED PROFITS,
813,720,622.42
Thle Company m8 u Exoenter. Admlnlatrater. Guardian. Truatee, Court Dopooitary and In
•Mar recognised troot eapaetSoo.
It allows Interest at current rates on deposits.
It holds, menaces and Invests money, seouxltles and other property, real or personal, for estates,
sospsrattons and tndletduals.
WILLIAM M. KINGSLEY, V.-Pres.
HENRY E. AHERN, Secretary.
WILFRED J. WORCESTER, Asst. Sec. CHARLES A. EDWARDS, 2d Asftt.See.
TRUSTEES.
W.
Bayard Outttnv,
Wiliam RoekofeUos.
Alexander B. Orr,
Wiliam H. Many Jr.
WBIam D. Sloane.
Chairman vf th0 Board.
John J. Phelps,
Lewis Cass Led yard,
Lyman J. Gage,
Payne Whitney.
80 BROADWAY
Branch 425 Fifth A venue. Corner 38th Street
With Modern Safe Deposit Vaults
Capital $1,000,000
Surplus (earned) $8,000,000
ALLOWS INTEREST ON DEPOSITS.
EDWARD W. SHELDON, President.
JOHN A. STEWART.
Gniter H. Schwab.
Prank Lyman,
See rye F. Vie tor,
James Stillman,
John Claflln,
Company
CHARTERED 1884
CAPITAL,
♦
OF NEW YORK
Chartered 1853
45 and 47 Wall Street.
LXXXX.
Edward W. Sheldon
Chauneey Keep.
Georfe L. Rlres.
Arthur O. James.
William M. Kingsley.
Acts
Executor, Guardian, Trustee, &c.
as
Administers “Institutional” and Other
Fiduciary 1 rusts.
Receives Securities for Safe Keeping and
Collection of Income..
TRUSTEES,
H. Van R. Kennedy,
James Gore King,
Amory S. Carhart,
Alex. S. Cochran,
W. Emlen Roosevelt,
Amos F. Eno,
N. Parker Shortrldge,
Frederic deP. Foster,
James Speyer,
Harrison E Gawtry,
John V. B. Thayer,
Robert W. Goelet.
Charles H. Tweed,
Adrian Iselin Jr.,
Richard T. Wilson,
Augustus W. Kelley,
James T. Woodward,
William Woodward
Walter P. Bliss,
.
UUnoisTnist&Sarni^sBank
CHICAGO
Capital and Surplus
$$13,400,000
Pays Interest
on
Time Deposits, Current and Reserve Accounts
CORRESPONDENCE INVITED.
Manhattan
Trust
Company
Wall Street, Corner Nassau
NEW YORK
UNITED STATES
MORTGAGE & TRUST
COMPANY
NEW YORK
CAPITAL,
$2,000,000.00
SURPLUS,
$4,000,000.00
Invites Personal and Business
Accounts. Acts as Trustee, Ex¬
Administrator, Guard¬
in AU Fiduciary
Capacities.
Certifies Muni¬
cipal and Corporation Bonds.
ecutor,
ian
and
CERTIFIED PUBLIC ACCOUNTANTS
55
NEW YORK
52
Broadway
CHICAGO
PHILADELPHIA
Marquette Bldw.
MutualsLIfe Bldw.
LONDON, ENGLAND
Leadenhall Bldgs.
i
OFFICERS.
AUGUSTUS W. KELLEY, Vloe-President.
JOHN V. B. THAYER, Vlco-Prest. A Sec.
EDWARD R. MERRITT. Vice-President.
O. C. RAWLINGS. Trust Officer.
HENRY M. POPHAM, v
*
T. W. HARTSHORNS, lAsat. Sec’yi.
HENRY M. MYRIOK, J
Deals in Investment Securities and Foreign Exchange
Transacts a General Trust Business.
Wilkinson, Reckitt, Williams & Co.
j
73rd 8t & B'way
6. W.
Cedar St
195th St. & 8th Ave.
Strassburger
Southern Investment SEOURtTtca.
MONIGOMKMY, AJJL.
Jam. 16 1010.
THE CHRONICLE
XXVII
£vn«t ©omjraities.
Mississippi
Valiev Trust Co.
Fourth'& Pine Sts.. St. Louis
CAPITAL. SURPLUS
and
\
PROFIT8\
CITY
ma am
eo
W»«W,UW
DIRECTORS.
John I. Boses, President Milwaukee Light Heat *
City Square. CHARLESTOWN
Capital & Surplus,
.
August A. Busch. Vice-President Anheuser-Busch
Brewing Association.
Murray Carieton. President Carleten Dry GoodsCo.
»
.
_
„
.
and Transfer of
A
Horatio N. Davis. President Smith* Davis Mfg.Go.
John D. Davis, Vice-President.
Anguste B. Ewing.
David R. Francis, Francis, Bro. * Co.
August Qehner, President German-AmericanBank
S. E. Hoffman. Vice-President.
Breckinridge Jones, President.
ministrator
Wm. 0. Lackey. Vice-President
and Bond Officer.
8f.el J. McBHdefV.-Prw.
W. McLeod. Vice-President
HMkril * BMk«rC«rCo.
Graysonson
McLeod Lumber Co.
Saunders
Norvell,
President
Norvell-Shaplelgh
Hardware Co.
Robert J. O'Reilly. M. D.
Wm. D. Orthweln, President Wm. D. Orthweln
Grain Co.
Henry W. Peters, President Peters Shoe Co.
H. C. Pierce. Chairman Board Waters-PleroeOllCo.
August Schlafly. August Schlafly A Sons.
R. H. Stockton, President Malestic Mfg. Co.
Julius S. Walsh. Chairman of the Board.
Rolla Wells.
PHILIP STOCKTON. President.
Chariot F. Adams 2d
F. Lothrop Ames
William Amory.
John S. Bartlett,
W
Ham F. Draper
Howard O. St urges,
Robert H. I. Goddard, Stephen 0. Metcalf,
Robert I. Gammell,
Walter R. Callender,
Edward Holbrook,
James E. Sullivan,
AND
Trust
Benjamin M. Jackson,
John R. Freeman,
Charles S. Mellen,
Robert W. Taft,
Webster Knight,
Stephen O. Edwards,
Frank W. Matteson,
Girard Trust Company*
CAPITAL And
SUBPLUS, $10,000,000
CHARTERED 18$$.
_
Executor. Administrator, Trustee.
Assignee and Receiver.
Financial Agent for Individuals
Corporations,
Interest Allowed
or
Individual and
Corporation Accounts
Acts as Trustee of Corporation Mortgages
Depositary under Plans of Reorganization
Registrar and Transfer Agent
Assumes entire charge of Real Estate.
Safes to Rent in Burglar-Proof Vaults.
on
E. B. MORRIS, President.
W. N. ELY, 1st Vice-President.
A. A. JACKSON, 2d Vice-President.
0. J. RHOADS, 3d Vlde-Pres. and Treasurer.
E. S. PAGE, Secretary.
MA\NAGE RS:
„
Effingham B. Morris.
John A. Brown Jr.,
John B. Garrett.
William H. Gaw,
Frauds I. Gowen,
Geo. H. McFadden.
Henry Tatnall,
Edward J. Berwlnd.
Randal Morgan,
Edw. T. Stotesbuiy
Charles E. IngersoU,
John S. Jenks Jr..
Henry B. Coze.
E. C. Felton,
Isaac H. Clothier.
Israel W. Morris,
Thos. DeWltt Cuyler,
William T. Elliott
0. Hartman Kuhn,
W. Hlnckle Smith,
James Speyer,
B. Dawson Coleman.
Broad and Chestnut Streets,
PHILADJSLfHIA
CENTRAL
TRUST COMPANY
OF ILLINOIS,
CHICAGO
Capital, - - - Surplus and Profits
$2,000,000
900,000
CHARLES G. DAWES. President.
W. IRVING OSBORNf&. Vice-President.
A. CJHRLAUB. Vice-President.
WILLIAM R. bAWBS. Cashier.
^D. SKINNER. Asst, Oashier.
1LLLAM W. GATES, Asst. Oashier.
A. G. MANG, Secretary.
MALOOLM MoDQWELL. Asst. Secretary.
BANKING, SAVINGS AND TBU8T
DEPARTMENTS.
Deposit
Company
General
a
Trust
and
as
on
Deposits. Subject to Check
Trustee
under
Railroad
and other
Executor.
Administrator and Trustee
Mortgages.and is authorized to act
Guardian.
Capital - - - Surplus (Earned)
$1,000 000
2,000.000
DIRECTORS.
Costello C. Converse
Edward W. Hutchins
Gerard 0. Tobey
Nathaniel J. Rust
Frank G. Webster
Arthur F. Estabrook
William B. Rice
Richard M. SaltonstaU
Jerome Jones
George B. Wilbur
Nehemlah W. Rice
James R. Dunbar
Charles F. Fairbanks
Wallace L. Pierce
John W. Farwell
O. Minot Weld
Authorised Reserve Agent for Trust
Companies of Maine, Rhode Island and
Massachusetts.
BOARD OF DIRECTORS
Oooiidge Jr., Chairman,
Robert F Herrick,'
Oliver Ames,
Henry S. Howe;
0. W. Amory,
Waiter Hunneweil,'
Charles F. Ayer,
Thomas L. Llvermovej
Samuel Carr.
Charles S. Mellen;
B. P Cheney.
Laurence Minot;
T. Jefferson Oooiidge.
Richard Olney;
Charles E. Cottlng,
Robert T. Paine 2d;
Philip Y. DeNormandie, Philip L. SaltonstaU;
Philip Dexter.
Herbert M Sean;
Frederic C. Dumaine.
Nathaniel Thayer;
Frederick P. Fish.
Lucius Tuttle.
Reginald Foster.
Stephen M. Weld;
Charles W Whittier;
George P. Gardner
The NEW ENGLAND
TRUST
COMPANY,
BOSTON.
IASS
CAPITAL. $1,000,000
SURPLUS. $2,000,000
Safe Deposit Vaults
Authorized to act as Executor, and to receive
and hold money or property In trust or on deposit
from Courts of Law or Equity
Executors
Also acts as Trustee under Mortgages and as
Transfer Agent and Registrar of Stocks and Bonds.
Interest allowed
as
CHARLES E. ROGERSON. President.
James Longley
George R. White
Henry S. Shaw
$7*500,00u
Administrators, Assignees, Guardians, Trustees,
Corporations and Individuals.
Banking Business.
Interest Allowed
Acts
•
Rowland G. Hazard.
Nelson W. Aldrich,
Samuel R. Dorrance,
R. H. Ives Goddard Jr.
HERBERT J. WELLS, President.
EDWARD S. CLARK. Vioe-President.
HORATIO A. HUNT, Vice-President.
WILLIAM A. GAM WELL. Secretary.
PRESTON H. GARDNER. Trust Offloer.
CYRUS E. LAPHAM, Asst. Sec'y.
JOHN E. WILLIAMS. Asst. Sec'y.
HENRY L. SLADER, Asst. Sec’y.
G. A. HARRINGTON, Asst .Tr. Offloer
as
Quincy A. Shaw
Wllmot R. Evans.
Howard Stockton.
Frederick P. Fish.
Charles A. Stone.
Edwin Fariiham, Greene Galen L. Stone.
Robert F. Herrick
Nathaniel Thayer.
Francis L. Higginson,
Henry O. Underwood
Henry C. Jackson
Sidney W. Winslow.
DIRECTORS.
Acts
Gardiner M. Lane
Arthur Lyman.
Maxwell Norman,
Robert T. Paine 2d.
Andrew W Preston.
Richard S. Russell
George A. Draper
Transacts
Royal O. Taft,
Lyman B. Goff,
George E. Keith,
Charles E. Cottlng
Alvah Crocker.
-
T. Jefferson
Gordon Abbott.'
DIRECTORS.
BOSTON. MASS.
$2,000,000
$2,000,000
William B. Weeden,
Edward D. Pearce,
Robert Knight,
John W. Danielson.
Herbert J. Wells.
Trustee.
v
PROVIDENCE, R. I.
SURPLUS
Stock
Boston Safe
Rhode Island Hospital
Trust Company,
CAPITAL
and
BOSTOM. MASS.
Capital and Surplus,
legal Depositary for Court Funds, and author¬
ized to act as Executor, Guardian. Ad¬
_
COLONY
TRUST CO.
$4,000,000
-
Interest Allowed on Deposits Subject to ChockActs ns Trustee under Railroad and other Mort¬
gages; also as Agent for the Registering
_
Charles Claris.
-
MASS.
Transacts a General Trust and
Banking Business
Traction Co.
Wilbur F. Boyle, Boyle A Priest.
James E. Brock, Secretary.
CO. OLD
STREET. BOSTON. MASS*
BUNKER HILL BRANCH:
GENERAL
FINANCIAL AND FIDUCIARY
BUSINESS TRANSACTED.
A
TRUST
80 STATE
Elwyn G. Preston
Nathaniel F. Ayer
Richard C. Humphreys
George W. Wheelwright
William H. Wellington
Industrial Trust Company
Deposits Subject to Check.
on
OFFICbRb
DAVID
R. WHITNEY, President
CHARLES F. CHOATE. Vioe-President
ALEXANDER COCHRANE. Vice-President
NATHANIEL THAYER. Vice-President
JAMES R. HOOPER. Actuary
HENRY N. MARR, Secretary
FRED. W. ALLEN. Asst. Sec. * Treas
THOMAS E. EATON, Asst. Treas.
FRANCIS R. JEWETT, Trust Offices
CHAS. E. NOTT, Mgr. Sate Hep. Tits.
BOARD OF DIRECTORS
William Endloott, Chairman
Walter C. BayUes
James G. Freeman
Alfred Bowdltch
Morris Gray
S. Parker Bremer,
James R. Hooper
Timothy E. Byrnes
Ernest Levering
Charles F. Choate
Haary H. Proctor
Alexander Cochrane
James M. Preadergast
George Dexter
Herbert M. Soars
Philip Dexter
Lawrence M. Stcoktoa
William Endlcott Jr.
Nathaniel Thayer
Francis W. Fabyan
Eugene V. R. Thayer
William Farnsworth
David R Whitney
Frederick P. Fish
George Wlggleeworth
Providence. R. I.
CAPITAL
SURPLUS
$3,000,000
3,000,000
OFFICERS.
Cyrus P. Brown. President.
Arthur L. Kelley, Vice-President.
H. Martin Brown, Vice-President.
Otis Everett, Vice-President.
Joshua M. Addeman, Vice-President.
Waldo M. Place, Treasurer
Ward E. Smith. Asst. Treasurer.
Chas. H. Manchester. Secretary.
H. Howard Pepper. Asst. Secy.
Frederick B. Wilcox, Auditor
BOARD OF DIRECTORS.
Samuel P Colt
Elbridge T. Gerry
Olney T. Inman
Chas. C. Harrington
William R. Dupee
Louis H. Comstock
Warren O. Arnold
Herbert N. Fenner
Richard A. Robertson
J. Milton Payne
Joshua M. Addeman
Eben N. Littlefield
James M. Scott
William H. Perry
Arthur L. Kelley
H. Martin Brown
Levi P. Morton
Otis Everett
C. Prescott Knight
Jesse H. Metcalf
John J. Watson Jr.
Charles H; Allen
George F. Baker
Henry A. C. Taylor
George M. Thornton
Cyrus P. Brown *
John B. Branch
WIMam P. Chapin
Angus McLeod
The Trust Company
of North America
603-308-807 Chestnut St*. Philadelphia.
CAPITAI
$1,000,000
ADAM A STULL, President.
HENRY a BRENGLE, 1st Vlce-Pres. A Treasurer.
JOS. S. CLARK, 2d Vloe-Pres., SuperVg Trust Dept.
CHAS. P. LINEAWEAVER. See. A Trust Officer
DIRECTORS.
Henry G. Brengle.
James Crosby Browrj
J. Levering Jones,
Malcolm Lloyd,
Eugene L. EUIod;
John Mcllhenny,
Richard Wain Melrs,
Clement B. Newbold,
John W Pepper,
W llam F. Read.
Joseph a Fraley
Harry G, Francis,
Henry L. Gaw, JrM'
Frank Samuel,
Adam A. Jtuil,
Edward D Toland
Howard S, Graham;
Samuel F Houston;
Joseph R. Watertight
John Cadwalader
E. W Clark Jr..
Eckley B. Core Jr„
Edwin S. Dixon,
wiiiKn
o
Winter,
©xrtlotL
Stephen
M. Weld & Co.,
COTTON
MERCHANTS,
88-92 Beaver
Street,
-
Hew ?erk City,
BOSTON, PHILADELPHIA, PROVIDENOB
Liverpool. Weld & Co.
Bremen, albbboht, Weld * Co.
Geo. H. McFadden &
COTTON
MERCHANTS,
PHILADELPHIA.
Bro.,
NEW YORK.
Liverpool Correspondents:
FREDERIC ZEREGA * CO
Bremen Correspondents:
MCFADDEN BROTHERS * CO
Havre Correspondents:
80CIETX D’Imthvrtatton rr m commission
Mason Smith &
Co.,
COTTON COMMISSION MERCHANTS,
NEW ORLEANS, LA.
MEMPHIS, TENN.
DALLAS, TEX.
Buyer* of Spot Cotton.
Orem's fer Contracts Exe¬
cuted in the New Orleans, New York,
Liverpool and Havre Markets.
R. H. ROUNTREE & CO.
Commission Merchants.
Cotton, Grain, Provisions and Coffee,
cotton exchange building,
NEW YORK.
HALL AND COMPANY
COTTON MERCHANTS
Cams Address
HaUaur
AUGUSTA, GA.
THE CHRONICLE
XXVIII
fffihttttxjcial.
ggttgtt,
WOODWARD
fc STILLMAN,
COTTON
16 to
tVoLiuckibc.
gittatxxial.
**
**'***-■*—J*-—1
-1-SlAnuWUD
E.H. ROLLINS & SONS
Established 1876
MERCHANTS
22 WILLIAM STREET.
NEW YORK.
AMNRICAK COTTON 01' ALL OKA DBS SUIT¬
ABLE TO WANTS OV SPINNERS.
MOT.ri.imt. [N
RAILROAD
MUNICIPAL
PUBLIC UTILITY
BONDS
Negotiate and Issue Loans for Rail¬
roads and Established Corporations.
Buy and sell Bonds suitable lor
Investment.
1H6B
Henry
Hentz & Co.,
COMMISSION
206 LA SALLE ST. CHICAGO
Fiscal Agent for Oities and Corporations
MERCHANTS,
List
16 to 22 William Street, New York.
Eweoute Order* for Future Delivery
COTTON
At
-*—*"-1
43
the New York. Liverpool and Mew Orleans
Cotton Exchanges. Also orders tar
iOFFEE
At the New York CoQee Exchange
GRAIN AND PROVISIONS
at tbe Chicago Board of Trade and
GRAIN AND COTTON-SEED Oil.
At the New York Produce Exchange
CHICAGO CITY MORTGAGES.
HIGH-GRADE INDUSTRIAL BONDS.
CHICAGO REAL ESTATE BONDS.
Hubbard Bros. & Co., CORPORATION i RAILROAD BONDS.
on
Application
Exchange Place
NEW YORK
BOSTON
DENVER
CHICAGO
SAN FRANCISCO
-
OOVITBB KXCtlANUfc BL1LUINU.
SEND FOR
HAIMtVUK stIUAUK
NEW I ORE.
COTTON
MERCHANTS.
Liberal Advances Made
on
CIRCULARS.
PEABODY, HOUGHTELING & CO.
181 La Salle Street.
Cotton
CHICAGO.
Consign men la
| Established 1865.
F. H. PRINCE &
Hopkins, Dwight & Co.,
COTTON,
BOSTON. MASS.
GEO. H. BURR & CO.
and
COTTON-SEED OIL.
Ream 8A Cotton Exchange Building,
NEW YORK.
a Co.
umited. New
Orleans, La
LEHMAN BROS.,
Nos* 16*22 William Street* New York*
Members el the Stock, Cotton, Coffee
and Produce Exchanges, New York.
Hi-h-Grade
BANKERS
COMMISSION MERCHANTS.
LlHUAH, stjbrn
43
Commercial Paper
Exchange Place - New York
Chicago
Boston
Siegfr. Gruner & Co.,
MERCHANTS
Members of New York and Boaton Stock Exchangee
St Louis
Sullivan Brothers
Municipal and Corporation
First National
Bank Bldg
Chicago
RONDR
OUrlMP
xx 1
50 Congress St.
Boston
Broadway
New York
4J2T
e 8
Members
SUCCESSORS TO
GEO.
COPELAND & 0O„
COTTON BROKERS*
43 Cotton Exchange,
New York.
Orders for future delivery contracts executed on
the New York and Liverpool Cotton
Exchanges.
Chas. S. Kidder & Co.
MUNICIPAL & COR¬
PORATION BONDS
183 LA SALLE
CHICAGO
MERCHANTS,
22 Exchange Place.
-
-
New York.
ROBERT MOORE & CO.,
26
Beaver Street, Mew Verk.
ORDERS FOR FUTURE DELIVERY EXECU¬
TED IN NEW YORK AND LIVERPOOL EX¬
CHANGES.
COTTON PURCHASED FOR SPINNERS USE
SMITH
& HAYNE,
Frank B. Hayne (In Commendam )
Cotton
COTTON
DEVITT. TREMBLE & CO.
BONDS FOR INVESTMENT
FIRST NATIONAL BANK BLDQ.
.
CHICAGO
•
PHILA. NATIONAL BANK BLDQ..
PHILADELPHIA
i
Estaolisbed l«o3.
•
W. T. HATCH & SONS,
71 Broadwav.
-
BROKERS,
New York.
CLEMENT
Suecuion
to
A SMITH
HAVEN A CLEMENT,
1 Nassau Street, corner Wall Street.
Members of the New York Stock
Exchange.
Bonds. Stocks, Cotton, drain.
Broker*.
EXCHANGE
ORDERS FOR FUTURE DELIVERY EXECUTED
IN NEW ORLEANS. NEW YORK
AND
LIVERPOOL
MARKETS
DomioicK & Dominion
H. T. HOLTZ & CO.
115 BROADWAY
Member New Yerk Stock Exckaage
ro ton cards on
preceding
page./
Municipal School
Public Service Corporation
INVESTMENTS
Edward Lowber Stokes
104 South Filth St.
PHILADELPHIA
United Bank Note Corporation Stocks
and
Railroad Bonds
STREET
MEMBERS OF
NEW YORK STOCK EXCHANGE.
BUILDING,
NEW ORLEANS. LA*
(Other
~
{New
York “ Exchange
l Philadelphia St^k
“
BANKERS ANB
STREET.
GWATHMEV A CO.,
COTTON
CHESTNUT
Co.
PHILADELPHIA, IP A..
me
WILLIAM RAY A CO.
&
BONDS
—
«
17 South William Street,
NEW tORK.
Investments.
Philadelphia
Kansas City
San Francisco
orders executed on the above Exchanges, as well in
New Orleans, Chicago and foreign markets.
COTTON
CO.,
BANKERS
•
DICK
„
171
La Salle St,
Chicago
BROTHERS & CO.
BANKERS AND BROKER*,
30 Bread St.,
-
New Yerk*
Member;
of N. Y. and Phfla. Stock Exekaa*
Mew Yerk. New Orleans mad
Liverpool Oettea
Rxehaagea. New Yerk Coffee Exahi
aaA Chleage Beard mt Trade.
@FedFRASER