The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
financial
flmmitl r
INCLUDING
Bank St Quotation Section
Railway Earnings Section
linitude
Railway Sc Industrial Section
Bankers' Convention Section
SATURDAY, JANUARY 15 1910.
VOL. 90.
glace
Throtzirle.
1910.
PUBLISHED WEEKLY.
For One Year
$10 00
For Six Months
6 00
European Subscription (including postage)
13 00
7 50
European Subscription six months (including postage)
22 14s.
Annual Subscription in London (including postage)
21 Its.
Six Months Subscription in London (including postage)
$11 50
Canadian Subscription (including postage)
Subscription includes following SupplementsSVATE AND CITY (semi-annually)
11,NIC AND QUOTATION (monthly)
RAILWAY AND INDUSTRIAL (quarterly) ELECTRIC RAILWAY(3 tunes yearly)
RAILWAY EARNINGS(monthly)
BANICHnS' CONVENTION (yearly)
Terms of Advertising-Per Inch Space
Transient matter per hie% space(14 agate lines)
$4 20
Two Months
(s times)
29 00
gin
ne
eV
29 00
Standing Business Carils
50 00
Twelve Mouths(52 times)
87 00
CHICAGO OFFICE-P. Bartlett,513 Monadnock Block; Tel. Harrison 4012.
LONDON OFFICE-Edwards & Smith,1 Drrpers' Gardens, E. C.
WILLIAM IL DANA. COMPANY, Publishers,
P.0.'lox 95S. Front, Pine and Depeyster Sts., New York.
Published every Saturday mornin i• by WILLIAM B. DANA C311,1P.AN'Y
William B. Dana,President; Jacob Seibert Jr., Vice-Prve. RIM Sec.; Arnoll
G. Dana,Treas. Addresses of all,Office of the Company.
CLEARING-HOUSE RETURNS.
The following table, made up by telegraph, &c., indicates that the total
bank clearings of all clearing houses of the United States for week ending
-Jan. 15 have been $3,882,909,097, against $4,868,796,956 last week and
$3,422,534,700 the week last year.
Returns by Telegraph-Week end.Jan.15.
1910.
1909.
New York
Boston
Philadelphia
Baltimore
Chicago
St. Louis
New Orleans.
$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
+15.4
+12.4
+27.5
+15.6
+0.6
+7.2
+31.7
Seven cities, Ave days
Other cities, Ave days
82,883,707,760
503,782,411
$2,350,021,155
452,089,613
+14.2
+11.2
• Total all cities, Ave days
All cities, one day
$3,187,490,171
695,418,926
$2,802,110,768
620,423,932
+13.8
+12.1
Total all cities for week
$3,882,909,097
%
$3,422,534,700
+13.5
The full details for the week covered by the above will be given next Saturday. We cannot furnish them to-day, clearings being made up by the
elearIng-houses at noon on Saturday, and hence in the above the last day of
the week has to be In all cases estimated, as we go to press Friday night.
We present below detailed figures for the week ending with Saturday
noon, Jan. 8, for four years.
Week ending January 8.
Clearings at
1910.
1909.
3,320,863,772 2,459,233,739
New York
Philadelphia _ _ 202,189,572 143,716,554
60,651,457
Pittsburgh
46,116,297
39,897,133
32,503,680
Baltimore
10,652,122
Buffalo
9,900,770
7,267,970
Albany
6,866,747
Washington
8,967,011
7,857,828
7,263,038
Rochester
5,150,281
3,996,767
3,217,266
Scranton
3,025,218
3,666,787
Syracuse
1,550,000
1,503,518
Reading
1,521,079
1,913,055
Wilmington
1,421,898
1,432.780
_
Wilkes-Barre
1,623,765
2,283,830
Wheeling
1,473,409
1,746,386
Harrisburg
1,907,314
Trenton
1,350,000
York
1,064,981
877,867
Erie
1,338,771
762,704
Binghamton _ _
527,700
581,400
Chester
649,123
668,956
Greensburg
700,000
691,555
Franklin
300,000
325,144
Altoona
449,078
388,427
Inc. or
Dec.
1908.
1907.
+35.0 1,397,075,202 2,223,955,208
+40.7 116,322,939 146,916,994
+31.5
54,515,886
42,264,915
+22.8
31,171,346
25,140,136
+7.6
9,039,566
8,859,319
+5.8
7,674,127
5,163,790
+14.1
5,693,969
6,779,436
+41.0
3,556,503
3,799,561
+24.2
2,358,753
2,353,239
+21.2
2,338,508
2,077,477
+3.1
1,250,444
1,362,212
+25.8
1,132,965
1,422,566
-0.1
1,306,023
1,386,388
+40.6
1,366,810
1,031,656
+18.6
1,101,553
1,000,000
+23.2
705,474
+21.3
595,051
+75.5
683,971
531,900
-9.2
630,000
521,433
-3.0
539,121
+1.2
521,066
554,961
351,850
314,967
-7.7
331,762
+15.6
Total Middle_ 3,681.713,451 2,731,337,304 +34.8 1,618,670,612 2,497,028,432
Total New Eng.
221,566,893
10,762,200
6,634,407
4,034,170
2,874,007
2,733,629
'2,387,210
1,558,092
,1,199,666
799,899
540,710
186,371,561
8,887,800
4,697,354
3,312,763
2,549,807
2,014.352
1,848,423
1,198,710
833,059
613,775
457,006
+18.9
+21.1
+41.2
+21.8
+12.8
+35.7
+29.2
+30.0
+43.9
+30.3
+18.3
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
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
255,090,883
212.784,610 +19.9
167,410,712
232,292.848
NO. 2325.
Week ending January 8.
Clearings as-
Terms of Subscription-Payable in Advance
'Boston
Providence
Hartford
New Haven
Springfield
Portland
Worcester
Fall River
New Bedford _
Holyoke
Lowell
Electric Railway Section
State and City Section
1909.
Inc. Or
Dec.
-
1908.
1907.
$
7
$
295,447,742 295,378,026
40.0
29,676.500
33,946,150 -12.6
20,657,898
19,685,350 +4.9
20,678,396
15,741,733 +31.4
14,311,272
12,628,551 +13.3
11,257,573 '10,039,904 +12.1
6,525,200
6,657,900 -2.0
4,195,577
3,276,756 +28.0
3,677,302
3,245,738 +13.3
3,155,251
2,662,767 +18.5
2,399,484
2,339,978 +2.5
2,422,808
2,381,972 +1.7
1,545,258
1,272,778 +21.5
1,199,341
1,314,567 -8.8
1,194,973 • 1,041,859 +14.7
1,239,135
807,689 +53.5
1,106,118
882,799 +25.3
962,000
720,000 +33.6
541,393
499.396 +8.4
728,581
694,416 +4.9
722,479
677,488 +6.6
950,000
748,106 +26.9
775,000
522,180 +48.4
708,342
569,882 +24.4
589,408
403,599 +46.1
398,159
359,770 +10.7
454,725
350,000 +29.9
435,763
412,250 +5.7
524,487
419,035 +25.1
247,976
199,944 +24.0
78,283
19,576 +299.9
427,092
316,992 +34.7
207,339,790
27,627.600
16,954,164
12,927,155
12,175,602
6,810,152
5,082,11.
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
312,05
174,527
28,000
280,000
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
530,544
525,645
448,370
397,280
385,062
313,256
280,978
Tot. Aild.West.
429,233,516
420,217,149
312346.829
348,223,838
San Francisco... _
Los Angeles
Seattle
Spokane
Satl Lake City_ _ _
Portland
Tacoma
Oakland
Helena
Sacramento
San Diego
San Jose
Fresno
Stockton
North Yakima
Billings
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
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
543,274
456,782
300,000
183,218
31,334,601
+59.2
8,681,765
+24.4
+44.1
7,360,109
+30.5
2,711,020
+26.0
3,798,435
+45.1
5,350,000
+24.3
4,652,538
+45.8
1,521,200
-10.5
677,124
-0.4
900,000
+34.7 •
725,000
+6 0
306,000
+9.7
+1.2
430,537
+50.0
+23.6
200,000
43,901,199
12,425,160
9,204,398
2,803,909
7,764,016
6,600,000
4,804,377
3,883,929
965,955
Chicago
Cincinnati
Cleveland
Detroit
Milwaukee
Indianapolis ___ _
Columbus
Toledo
Peoria
Grand Rapids
Dayton
Evansville
Kalamazoo
Springfield, III
Fort Wayne
Lexington
Youngstown
Akron
Rockford
South Bend
Springfield, 0_
Canton
Quincy
Bloomington_ __ _
Decatur
Mansfield
Jackson
Jacksonville
Danville
Ann Arbor
Adrian
Lima
Total Pacific
Kansas City
Minneapolis
Omaha
St. Paul
Denver
St. Joseph
Des Moines
Sioux City
Wichita
Lincoln
Davenport
Topeka
Cedar Rapids ..._
Colorado Springs
Pueblo
Fremont
Fargo
Sioux Falls
Duluth
Tot. oth.West_
116,748,500
+2.1
$
$
145,003
22,000
300,000
300,000
82,608,206 +41.3
68,648,329
92,652,943
54,619,465 ' 49,066,464 +11.3
23,987,752
17.968,286 +33.5
17,557,284
14,520,228 +20.8
10,885,277
10,156,673 +7.2
11,189.983
9,508,762 +17.7
6.000,400
7,525,492 -20.3
4,500,000
4,227,508 +6.4
2,550,000
2,985,315 -14.6
2,500,000
1,750,204 +42.8
1,907,303
1,607,004 +18.7
2,483.075
1,602,529 +55.0
1,157,916
1,393,933 -16.8
1,616,870
1,281,018 +26.2
895,837
835,376 +7.2
613,451
667,833 -8.1
398,236
371,443 +7.2
995,180
601,630 +65.4
945,000
750,000 +26.0
3,517,616 Not included in total
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
1,247,502
1,030,060
1,011,782
885,021
614,881
555,897
360,296
786,774
720,000
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
1,117,501
1,077,411
658,970
704,519
714,033
405,709
648,869
511,791
144,803,031
126,819,698 +14.2
103,583,019
101,051,210
St. Louis
New Orleans...
Louisville
Houston
Galveston
Richmond
Atlanta
Memphis
Fort Worth
Nashville
Savannah
Norfolk
Birmingham _ _ _
Augusta
Jacksonville _ _ _
Little Rock
Charleston
Chattanooga _
Mobile
Knoxville
Oklahoma
Macon ......_
BellImont
Vicksburg
Austin
Jackson
Meridian
Wilmington,N.C.
81,746,080
75,214,089 +8.7
30,305,951
19,580,675 +54.3
17.685,134
17,159,679 +3.1
15,822,415
15,850,010 -0.2
9,140,500
9,645,000 -5.2
10,388,556
8,639,266 +20.2
*16,181,537
6,700,000 +141.5
9,522.480
7,206,141 +32.1
8,294,41:
6,954,025 +19.3
5,500,611
5,314,847 +3.5
6,011,788
4,411,891 +36.3
3,118,600
2,962,395 +5.3
3,438.707
2,532,867 +35.8
2,600,000
2,265,053 +14.8
2,853,478
2,021,803 +41.1
2,422,777
1,848,272 +31.1
1,895,494
1,819,744 +4.2
2,562,469
1,712,459 +49.6
2,064,360
1,734,720 +19.0
1,814,464 +15.3
2,091,294
1,484,787 +54.9
2,300,000
1,450,000
1,030,917 +40.7
803,233
656,507 +22.4
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
61,113,749
20,704,671
11,575,058
10,485,041
7,187,500
6,375,363
5,330,387
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
68,160,965
25,601,620
14,938,109
14,263,956
8,783.000
7,207,834
6.712,276
6,417,781
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
Total Southern
241,207,5751 200,653,615 +20.2
161,033,210
188,270.304
Total all
4,868,796,956'3,774,420,582 +29.0 2,431.892,711 3,459,919,573
Outside N.
1,547,933,184 1,315,186.843 +17.7 1,034,817,509 1,235,964,365
Y._
*Thls year's clearings considerably Increased by out-of-town clearings department
Note.-For Canadian clearings see !"Commercial and Miscellaneous News.".
134
THE CHRONICLE
THE FINANCIAL SITUATION.
•
Political matters are again exercising a dominant
influence in affairs. We referred last week to the wave
of deptession that was then spreading over the financial
market's and to the decline in security values which
had followed as a result. - This week values have
tumbled still further, and there has been tremendous
liquidation in stocks, mainly, it would seem, by investment holders. The downward movement has
been in progress eve: since Monday of last week, when
thp- railroad presidents, at the instance of Mr. J. P.
Morgan, had their conference with Mr. Taft with the
_iclea of dissuading him from carrying out the radical
policies in the way of railway regulation and corporato which he seems determined to commit
tion
his Administration. Since the President's special
message went to Congress last week Friday, disclosing
the nature of his proposals, the downward trend of
values has become steadily more pronounced. And
yesterday the break reached such dimensions that the
market assumed a panicky aspect.
It is evident that the President's policies, and the
fear thatle may be able to impose them upon Congress,
are causing deep concern. Bond houses have had
difficulty in floating new loans for some time past—
ever sincp the close of last summer,when the President
started on his speech-making tour around the country,
and took pains to let it be known that he was imbued
with the same notions and doctrines as his predecessor,
and would endeavor to have these ideas enacted into
law. But, though investors were timid about buying neW bond issues, holders of stocks continued to
manifest confidence in a satisfactory outcome under
the growing revival of trade; now these, too, are
seemingly losing hope and evince a desire to let go
of their holdings.
Main concern has thus far been felt with reference
to the plan for railway regulation, but as the words of
the President's special message are being weighed and
pondered, the feeling of uneasiness is spreading, since
Mr. Taft makes it plain that the same pernicious activity arranged for the transportation industry is contemplated with reference to the great manufacturing
corporations. In the meantime, and as a preliminary,
there is to be an extensive raking up of the past in the
true Roosevelt fashion. The "Big Stick" is once more
in evidence. Mark these words from the special
message: "It is the 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, organization and purposes of all the
industrial companies with respect to which there is any
reasonable ground for suspicion that they have been organized for a purpose and are conducting business on a
plan which is in violation of the Anti-Trust Law." The
Anti-Trust Law is not to be amended, and this threat
is deliberately made with the view to compelling these
industrial combinations to accept, as the alternative,
the President's plan for Federal incorporation, which
would give the General Government control over everything.'1 We discuss the Federal incorporation scheme in a
separate article on a subsequent page. Very naturally
the question is being asked, Where is all this to end?
[VOL. Lxxxx.
has given out its figures of gross for the month of December, showing a loss of $420,756, following $463,640
decrease in the same month of the preceding year,
making a falling off for the two years for this month
of $884,396. The Denver & Rio Grande for the first
week of January reports a decrease of $21,500 and the
Colorado & Southern for the same week also shows a
slight falling off, while Rio Grande Southern, a minor
dependency, has had its small earnings cut in two,
so that they are only $6,222 for the week in 1919,
against $11,162 in 1909. The results in these cases
are deemed significant, inasmuch as the returns come
from roads situated in the western half of the country,
where especially unfavorable conditions are being encountered for the time being. The weather west of the
Mississippi River has been unusually severe through
December and thus far in January. Evidently, also,
the effects of the switchmen's strike in the Northwest
have not yet completely worn off. With gross earnings contracting and expenses running up, it is obvious
that the showing as to net must be poor. In that part
of the country, likewise, new competition in the operation of the Puget Sound line of the Milwaukee &
St. Paul and the early opening of the Western Pacific
are likewise factors that must be reckoned with. In
addition, a decision handed down by the U. S. Supreme Court on Monday cannot be viewed as altogether assuring. This decision had to do with the
power of the Inter-State Commerce Commission to
order a distribution of cars among different shippers
in times of a car shortage, and is to the effect that
authority to make such distribution is vested in the
Commission, Sand that to provide a just and equal
distribution the Commission can include even the cars
reserved by a road for carrying its own fuel. The
Court had three cases altogether under consideration,
one arising on the Hocking Valley, another on the
Illinois Central and the third on the Chicago & Alton.
The decision itself is of no very great consequence,
except so far as it shall encourage the Commission in
its regulating propensity.
Statistics are now available regarding copper production and consumption which enable one to take
a clear survey of the situation of that metal. The
Copper Producers' Association on Monday made public
the figures for the month of December, completing the
results for the calendar year. The results for December are favorable as far as they go, showing as they do
a decrease of 11,237,416 pounds in the stocks of marketable copper during the month, reducing these
stocks from 153,003,527 pounds to 141,766,111 pounds.
Unfortunately, however, there was at the same time
an increase of 7,345,960 pounds in the foreign visible
supply of the metal. This last has been the conspicuously weak feature of the situation of the metal
through practically the whole of the last two years.
The production during December was 117,828,655
pounds, which is somewhat smaller than in other recent months, the decrease being presumably due to
the interruption to smelting and mining operations
occasioned by the switchmen's strike on the Northwestern roads. The deliveries in December were 69,519,501 pounds for domestic consumption and 59,540,570 pounds for export, or 129,066,071 pounds together.
Taking the twelve months of the calendar year for
There have also been some unfavorable returns of
railroad earnings this week. The Great Northern Ry. study, it readily appears that the trouble in the cop-
JAN. 15 191.0.1
THE CHRONICLE
135
per trade has not been with the consumption, but with
The report of the Census Bureau on the amount
an excessive production. The output of refined cop- of cotton of the 1909 crop ginned to January 1, issued
per during 1909 was far in excess of the largest previous on Monday, tended to confirm the opinion that the
total. According to.the Copper Producers' Associa- Agricultural Department's estimate of yield, made
tion, the production of marketable copper in the United public in December, is too low and will eventually
States from all domestic and foreign sources during the prove to be well under the season's actual proyear reached no less than 1,405,403,056 pounds. This duction. The report makes the amount ginned
compares with an output of only 1,161,176,085 pounds 9,646,285 running bales, which at the average weight
in the calendar year 1908, showing an augmentation of of the portion of the crop marketed to the close of
244 million pounds, or over 20%. The deliveries for December-509.52 lbs.—would give a gross weight
domestic consumption also far surpassed the best of 4,914,975,133 lbs. As the Department's estimate,
previous total, aggregating no less than 705,051,591 which, as with the ginning reports, excludes linters,
pounds. The largest previous consumption was 682,- was for a crop of 10,088,000 bales of 500 lbs. gross
000,000 pounds, in 1906. Perhaps it is open to ques- weight each, or 5,044,000,000 lbs., it will be seen that
tion if all these deliveries may be taken as reflecting only about 250,000 bales of 500 lbs. gross each reactual consumption, since it is well known that there mained to be ginned after January 1 if the estimate is
has been tremendous speculation in the metal, there not to be exceeded. Last year there was ginned
having been extensive purchasing and holding of after January 1 some 620,707 bales, in the preceding
copper during the last two years by persons who had year the ginning during the same period amounted to
never previously made ventures in copper. The al- 1,106,317 bales and in 1907 to 1,242,162 bales.
lurement was the low price of the metal, which hovIt is, however, the details of this latest ginning
ered around 13 cents throughout the year. The ex- report that attract attention, as they indicate that in
ports also were on a prodigious scale, even exceeding a number of States the Department of Agriculture's
those for 1908—the total being 680,942,620 pounds, estimate has already been exceeded. In the State
as against 661,876,127 pounds.
of Georgia, for instance, the Department's estimate
In face of these large exports and the large domestic was for 1,800,000 bales of 500 lbs. gross each,
but
deliveries, stocks of marketable copper in the United there has already been ginned 1,812,994 bales of a
States during the calendar year 1909 increased by greater average weight. South Carolina returns also
19,408,845 pounds, rising from 122,357,266 pounds to show more bales ginned to January 1 than the estimate
141,766,111 pounds. But a still greater element of called for, and, allowing for the excess over 500 lbs.,
depression has been the augmentation in the foreign Alabama and Mississippi likewise are already above
visible supply. This was already of unusual extent the Department's figures. In fact, if the December
when the year 1909 opened, being then 124,716,480 estimate is not to be materially exceeded, little or no
pounds. The beginning of 1910 sees the amount up to cotton remains to come from any States except Texas
the prodigious figure of 244,209,280 pounds, an addi- and Oklahoma. Following the announcement of the
t'on for the twelve months of no less than 119,492,800 ginning figures-on the floor of the local cotton exchange
pounds. Thus the comb ined foreign and domestic a marked decline in prices occurred, for which the
additions for the year have been 138,901,645 pounds.
growing conviction (based on these latest returns)
It seems to be thought that the domestic stocks ot that the crop has been largely under-estimated was
copper may now be expected to fall off, at least during probably in part responsible. But even after the
January and February. This feeling is based on the decline prices continue much above a level that any
idea that production will not be maintained at a full known conditions of supply and demand would seem
level, more particularly as the railway switchmen's to justify.
strike on the Northwestern roads has served somewhat to restrict output in Montana. Granting that
The Public Service Commission of this State is still
this may be so, the large foreign visible supply will reaching out for more power. An outline of its annual
still remain an incubus. The amount of copper 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. It
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 than720,000,000 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 capital stock and authorization of mortin 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 changes of motive power, leases affecting
franchises, including specifically all made by predeces
136
THE CHRONICLE
sr companies; all traffic and trackage agreements, including those which concern removal of ashes or other
refuse; all agreements with terminal or warehouse companies, 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
m,eant 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
of hours to frame the resolution and the five Commissioners could adopt it in five minutes.
The cost of furnishing sworn copies of pretty much
everything ever done by the existing companies or
their predecessors we forbear to estimate, but one
thing is plain: railroads have to face present and prospective demands by their employees for higher wages
and also easier work, while it is undeniable that the
cost of construction and supplies has also risen. On
the other hand, the public does not view with complacency any suggestion of higher rates, but is keenly
desirous of getting ampler and more agreeable service,
at even reduced rates. There is thus a deep ditch
on each side of the way along which the common
carrier must pass. Is it not, therefore, plain to the
youngest schoolboy (or would it not be plain to him
if his opinion were sought) that to pile useless and
harassing expenses upon the carrier, on pretense of
regulating him, is more than ill-timed?
As already stated, the Commissioners in their annual
report voice their desire for more and more enlargement
of powers. They think it the intent of the Legislature
to make them "an administrative body, with power to
prescribe rates," and so on, but the courts take other
views. Therefore these unsatisfied five men want
their own interpretation expressed in more law, so
that their control may be absolute. Two questions
suggest themselves: Would the present owners of
railway properties in this State have invested their
money thus, with the knowledge or the forecast that
control was to be taken from them and handed over
to five political appointees? Supposing it continues
to be the fact that control is divested from ownership,
what will be the natural effect upon investors henceforth? Is it advisable upon the whole to make this
treatment of private property "the established policy
a the State," as Gov. Hughes incidentally calls it?
nations to turn their attention to Washington, not
always with approval, as is not unnatural when innovations are attempted in a sphere strictly bound to
traditions and precedents. The& 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 revolution was inspired by this desire for a more permanent peace 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 conjunction 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 America.
Another manifestation of our Government's earnestness in seeking to promote international amity, and
thus fulfill 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 Arbitration at The Hague. At present no tribunal of this
character exists; there is only a prize court, whose
functions are limited to war periods. The advantages
of a permanent Court, composed of jurists of international eminence, have been impressed upon other
nations by our State Department, but the proposal has
not been immediately endorsed. The matter is
believed to be receiving the most careful deliberation
at the hands of the Powers to whom the circular note
was addressed, and a favorable outcome, though by
no means assured, is not despaired of, notwithstanding
the reluctance of certain naval Powers to forego in
any way their right to prepare for warfare. The
crushing burdens imposed by socialistic legislation are,
fortunately or unfortunately, rendering it more and
more difficult for the leading nations of Europe to
maintain the present vicious pace in building armaments; hence, there may develop, through necessity if
not through choice, a disposition to take advantage
of every available means of insuring the peaceful settlement of the minor disputes that inevitably arise from
time to time between progressive countries.
It has seemed to us desirable to recount the above
diplomatic developments as a prelude to a brief recital
of the latest important step taken on behalf of the
United States Government by Secretary Knox, namely
the presentation to the Powers of a memorandum
recommending what has been tersely described as the
neutralization of the railroads in Manchuria. The
text of the communication has not been given out at
Washington, but an authoritative report states that it
contained two separate proposals: first, China's repurchase of the Manchurian roads through the means
of an international financial syndicate; and, second,
international support for the construction of the
Chin-chow-fu—Tsitsihar RR. Moreover, the principle
enunciated, it is added, was endorsed by Great Britain
and China before formal action was taken.
Naturally, the overtures have been differently rePhilander C. Knox, our Secretary of State, is
evolving a brand of diplomacy that is causing other ceived in different countries, although the good faith
JAN. 15' 1910.]
THE CHRONICLE
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 a dominating influence in
Chinese affairs, so as to facilitate the distribution of
American goods in the great markets of China and
Manchuria. On the other hand, it has been pointed
out that the continued operation of the Manchurian
railroads by Japan and Russia could not fail to give
rise to endless friction, a contention that is strengthened by the events of 1909, when, it will be remembered, complaints were rife that Japan was practicing
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 highest motives is reasonable and in strict consonance with the facts.
Official information is lacking as to how the various
foreign governments have received Secretary Knox's
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, however, 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 international financial syndicate is formed, France will participate upon the condition that she is afforded a
basis of absolute equality with the most favored
nation."
The Russian Minister of Finance, M. Kokovsoff, is
unofficially represented as having favored some sort
of international arrangement for the East Chinese
RR., but so far no definite statement has come from
the Czar's Government. Japan is observing characteristic Oriental reticence, but from all that is heard and
surmised, opposition may be offered from that quarter.
This opposition, it is conjectured, may take the form
of a counter proposition to embody all the railroads in
the Chinese Empire. However, mere guessing on this
point can serve no useful purpose; events must be
awaited. Germany's reception of the scheme is
friendly, according to a semi-official announcement; it
states that Germany's answer "will be in the same
sense as England's." China, like Japan, is maintaining diplomatic silence; a report that the proposal
had been rejected was,denied later in the week, and it
may be assumed that our Government had China's
assent to the proposal before action was instituted.
The whole matter is in the embryonic stage and necessarily much time will be consumed before a working
plan can be consummated.
New capital issues in London, according to the most
trustworthy returns available, were greater in 1909
than in any former year on record, with the sole
exception of 1908, which was, of course, a period of
abnormally cheap money, and therefore conducive to
heavy applications for capital. Last year's grand
total, which includes governmental, municipal, foreign,
colonial and home loans of all descriptions, reached, in
137
round figures, $910,000,000, against $960,000,000 in
1908, a decrease of $50,000,000. Butin 1907 the aggregate 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
taken of the attractive terms available in 1908; in
that year British railways raised more than $60,000,000
capital, contrasted with the insignificant sum of
$2,000,000 last year, while foreign railways applied for
$215,000,000, against less than $155,000,000 in 1909.
There were listed on the Paris market last year new
issues to the amount of $735,000,000, the largest
total in modern times, with the exception of 1906,
when the figure reached $765,000,000. In addition
to this official record, mention should be made of fully
$155,000,000 new issues of various descriptions admitted to the coulisse, of which the United States has
heard so much during the last nine months. A large
proportion of the 1909 loans floated in France last
year consisted of Russian bonds. The French money
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.
The revival of trade in Germany has involved extensive demands for capital. This borrowing will in all
probability continue on a heavy scale in 1910. Furthermore, the Imperial Government's ambitious program, entailing repeated annual deScits, will again
call for a large amount of borrowed funds. Money
rates in Germany have ruled persistently higher than
in France or Great Britain and the indications are that
although the Reichsbank's official minimum of 5%
will be lowered in the very near future, money will continue to be worth more than the average of recent
years. This week's disparity between the Berlin and
the London private discounts,in favor of theformer,was
wholly due to the political crisis in Great Britain. The
average open market rate for the best three months'.
bills in London during the second half of 1909 was
2 2-3%; the average Bank rate was 3 2%.
The third Parliament of King Edward's reign will
meet, according to a proclamation issued this week,
on Feb. 15, the second Parliament having been dissolved on Monday last. The representation at the
close consisted of 364 liberals, 168 unionists, 83 nationals and 55 labor members. Despite the overwhelming majority of the late government, great uncertainty now prevails concerning the outcome of the election, which will begin in earnest with polling in some
seventy constituencies to-day. How sentiment has
veered round in favor of the unionists may be gathered
from the fact that, whereas originally the betting odds
were 3 to 1 that the liberals would win, the figures are
now even. The tariff reform party has been reinforced
since the New Year by numbers of prominent membero
of Parliament who formerly were committed to a freetrade policy.
Much. has been made by the unionists of the large
numbers of unemp-oyed throughout Great Britain,
and for comparative purposes the condition of labor in
138
THE CHRONICLE
the United States has been keenly discussed, apparently with telling results. The adherents of Joseph
Chamberlain are vociferously claiming that protection
s a panacea for lack of employment; to this John
Burns, President of • the Local Government Board,
replies that nearly all wars not caused by religion have
been brought on by disputes over tariffs; and he fears
that a tax on timber "might lead to war With the
United States." Incidentally, Mr. Chamberlain was
returned yesterday (unopposed) for Birmingham West,
while Arthur J. Balfour is certain to beat his eleventhhour opponent, Sir Hugh Bell,in the City of London,
where the polling will take place to-day. Winston
Churchill's belated announcement of a brand new
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
that 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 disclose.
Marked improvement has been recorded this week
in the banking position at all the principal European
centers, while at home there has been a steady decline in call money rates until to-day they are back
nearly to •a, normal level, a fact that is not surprising
in view of the strengthening of reserves recorded last
Saturday and the further influx from the interior this
week. The relaxing of the New Year tension has been
most pronounced at the point where the strain was
greatest—Berlin. The weekly,Tstatement of the Imperial Bank, disclosing an increase in cash on hand of
$18,900,000, a reduction in note circulation of $61,500,000 and a curtailment of $100,000,000 in loans
and discounts, foreshadows an early change in the
official rate of 5%, especially as private discounts
fell this week to a minimum of 3%; the declaration of
a 4% rate on Monday next would be in accordance with
expectations. The Bank of France, while not able
to record more than a nominal gain ($135,000) in gold,
has reduced its liabilities very materially, note circulation having decreased $17,000,000, bills discounted
$23,200,000 and general deposits $11,500,000; in
Paris, as in Berlin, the open market rate has declined,
to 231%, after having long remained stationary at
294%, or 3i of 1% below the Bank rate. The Bank
of England, as is shown in greater detail in our special
cable from London, has this week greatly improved
its condition, having raised its proportion of reserve
to liabilities from 39.41% to 47.54%, which is larger
than usual at this season, notwithstanding the extraordinary demands that have been levied upon the
Bank by the British Treasury in consequence of the
Budget having failed to pass; there also the rate for
bills has weakened, to 33g%, a figure that would under
normal circumstances portend an early reduction of
the official minimum to 332%. At New York the
average rate for call funds this week has been under5%,
against 7% last week, while on Thursday and yesterday even the maximum quotations did not reach the
week's average. T,me accommodation has also tended
lower during the last two days, lenders being inclined
to grant concessions from the former minimum of44%;
[VoL. Lxxxx.
indeed, a good deal of business was done yesterday
at 414%.
The German Government having taken up consideration of a bill which aims at the forming of a comprehensive potash syndicate, to control the output
and sale of that commodity, our Government has informed the German Foreign Office that such a measure,
if enacted by the Reichstag, would be construed as an
act of discrimination against American interests, and
therefore rendering Germany liable to the "maximum
clause" (Section II.) of the Payne Tariff Law. The
question is extremely complicated. Certain contracts
now in existence with Americans would be affected by
the proposed measure, and unless some method be
devised to obviate a breach of these agreements, our
Government may resort to the extreme reprisals emboded in the section referred to; but the exercise of
common sense and reasonable conciliation by both
sides to the controversy should succeed in averting a
tariff war 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 Germany sells to us.
Discount rates abroad have again moved downwards
at all foreign cities this week. In London the charge
for discounting 60 and 90-day bills is now 338%; at
the fortnightly settlement on the Stock Exchange the
contango rate on American stocks ranged at 5@514%
and on others about 43%, a substantial reduction
from the quotations at the final settlement of last
year. At Paris the rate has declined to 23/2%. Berlin
quoted 3% earlier in the week, but yesterday the
charge was 331%. Frankfort reports 331@3%%.
Amsterdam has felt the effects of easier money, the
discount rate there having fallen to 29@23%.
There were no changes in official bank rates during
the week. According to our special cable from London, the Bank of England gained £1,047,145 bullion
during the week and held £34,750,988 at the close of
the week. Our correspondent further advises us that
the gain was due mainly to receipts from the interior
of Great Britain, exports largely exceeding imports.
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 £161,000
bought in the open market); exports, £825,000 (of
which £260,000 to South America, £515,000 to the
Continent, £40,000 ear-marked Straits Settlements
and £10,000 to various destinations); and receipts of
£1,692,000 net from the interior of Great Britain.
In the local money market the daily fluctuations in
call funds again attracted chief attention. The tendency was steadily downwards throughout the week.
Thus, on Monday 6% was quoted, with 53/2% the
ruling rate; on Tuesday 53/2% was the maximum and
5% the prevailing quotation; on Wednesday 5%
was the high and ruling rate, while 3% was quoted
before the close, and on Thursday the top was 432%
and 4% the ruling figure. On Friday the range was
33/2% to 4%, the renewal rate falling to 33/2%, the
lowest ruling rate for any day this year. The average rate for the week was a shade under 5%,
or 2% below the corresponding quotation of the
first week in January.
Time money resisted
the easiness in the call division until the latter
JAN. 15 1910.
part of the week. Whereas 4 2@,44% had been
regularly named for 60 and 90-day loans, with 41 2%
bid for longer maturities, on Thursday loans for all
these periods could be obtained at 4% and occasionally at 43'1%. On Friday 414% was not infrequently
the figure agreed upon. Some business has been done in
30-day loans at 44%. Another feature has been a continuance of the borrowing, referred to last week, on inactive and all-industrial collateral at 3'2 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 companies. 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@
.5%, but nearly all the business for local account is
4%. Less attractive bills range from 5 to
done at 43
532%. Sixty to 90 days endorsed bills receivable are
quoted 4@5%, with few on offer. The demand for
paper has come chiefly from New York, from New
England, from Philadelphia and Chicago. Now that
the monetary conditions are getting back to normal, a
better inquiry for paper will be in order.
In foreign exchange the undertone is again so strong
as to suggest a continuance of the recovery, despite
the tactics of certain large brokers and at least one
bank, who find themselves once again in an uncomfortable position, on the short side this time. Among
responsible, conservative bankers engaged in conducting a strictly legitimate foreign-exchange business,
the constant and violent manipulation of quotations
is severely condemned. Of course brokers, being
private agents, and accountable only to themselves
or the clients who employ them, can behave erratically
with impunity—save, perhaps, as affecting their
standing—but a very different view is being taken of
the operations of certain banking people; indeed, the
matter is attracting very great attention in exchange
circles, where its propriety is seriously questioned.
These comments will serve to explain the apparently
senseless gyrations in sterling from one moment to the
next. Rates, temporarily, are more or less at the
mercy of these powerful speculators. However,the best
opinion is thatthe campaign will shortly he abandoned.
Supplies of remittance, both commercial and banking, are still scarce. As bearing on this situati n,
the December statistics of the leading articles of exports are peculiarly interesting. 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
in the final month of 1907, when, it should be explained, merchandise was hurried to Europe to pay
for the gold then being imported. For the calendar
year these preliminary returns give a total of $837,772,846, contrasted with $915,065,439 in 1908 and
$967,325,047 the year before. Then it is to be remembered that imports have been exceptionally heavy
during the greater part of the last twelve months.
Furthermore, Argentina's shipments of grain and Brazil's exports of coffee to Europe have been an important factor, since London has been able to call upon
New York to remit the necessary gold in settlement
therefor. This week's radical break in cotton prices
139
THE CHRONICLE
may, it is hoped, prove portentous of a resumption of
exports of the staple. Unless offerings of remittance
increase or Europeans, because of the British election
result or other influences, become extensive purchasers
of our securities, it is not easy to foresee how an outflow
of gold can be prevented. This week only small shipments occurred, a total of $400,000 going to Mexico.
Compared with Friday of last week, sterling exchange 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 transfers weakened 10 points, only 4 87 being bid. On
4, demand closed at
Tuesday 60 days fell to 4 833
4 and cable transfers at 4 8710@4 8720. Higher
4 863
quotations prevailed on Wednesday, long sterling
4,demand at 4 8675@4 8680 and cable
closing at 4 837
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
previous day's range for to-day's steamer, although
1 c. higher is being paid for next Wednesday's mail.
4
The following shows the daily posted rates for sterling
exchange by some of the leading drawers:
Mon., Tues., Wed., Thurs., Fri.,
Fri..7. Jan. 10. Ian. 11. Jan. 12. Jan. 13 Jan. 14.
Jan.
Brown
Bros. & Co
Kidder, Peabody & Co
Bank of British
North America_
Bank of
of Montreal
Canadian Bank
of Commerce
Heidelbach. Ickeiheimer & Co
Lazard
Freres
Merchants' Bank
of Canada
160 days 4 8434
'Sight_ .. 4 8734
160 days 4 8434
15ight__ 4 8734
160 days 4 85
1SIght__ 4 88
560 days 4 85
18ight__ 4 8734
560 days 4 8434
18Ight__ 4 8734
160 days 4 8434
1Sight__ 4 8734
160 days 4 8454
'Sight._ 4 8734
560 days 4 8434
'Sight__ 4 8734
8434
8734
8434
8734
8434
8734
85
8754
8454
8734
8434
8754
8434
8734
8434
8734
8434
873.4
8454
8734
8434
873.4
8454
8734
8434
8734
8434
8754
8434
8754
8454
8734
8434
8734
8454
8734
8434
8754
8434
8734
8434
8734
8434
8734
8434
8734
8434
WM
8434
8734
8434
8734
8454
8734
8434 .
• 8754
8454
8754
8434
8754
8434
8754
8434
8734
843.4
8734
8434
8734
8454
8734
8434
8734
8434
8734
8434
8754
8454
8754
8434
8734
The market closed on Friday at 4 84®4 8410 for
60 days, 4 8685(0 8690 for demand and 4 8725@
4 8730 for cables. Commercial on banks was quoted
at 4 8370@,4 8380 and documents for payment at
4@4 83%. Cotton for payment ranged from
4 827
4 82% to 4 83 and grain for payment from 4 83M to
4 83%.
The following gives the week's movement of money
to and from the interior by the New York banks.
Week ending January 14 1910.
Currency
Gold
Total gold and legal tenders
Revived by
Shipped bb
N. V. Banks. N. Y. Banks.
Net Interior
Movement.
319,034,000
3,047,000
14.516.000 Gain $14,518,000
906,000 Gain 2,141,000
822,081,000
$5.422,000 Galn 116.659.000
With the Sub-Treasury operations and gold exports
the result is as follows.
Net Change in
ow e
Into
Week ending January 14 1910.
Banks' interior movement,as above_
Sub-Treas. oper. and gold exports-Total geld and legs2 tenders
Banks.
Banks.
Bank Holdings.
122,081.000
35,400,000
35,422.000 Gain $16,659,000
34.000,000 Gain 1,400.000
157,481.000
$39,422,000 Gain 318.059,000
The following table inoicates the amount of bullion
in the principal European banks.
Jos. 14 1909.
Jan. 13 1910.
Banks of
Gold.
.£
England_ _ 34,750,988
139,547,820
France
Germany _ 36,533.100
Russia. _ 140,890,000
Aus.-Hun_ 56,456,000
16,120,000
Spain _
38,550.000
Italy
Neth lands 10,081.000
Nat.Belg.. 4.331,333
Sweden _. 4,468,000
Switeland 4,976,000
Norway _ _ 1,777,000
Silver.
Total.
Gold.
34,750,988 31.656.183
34,897,360174.445,180141,415,426
12,699,550 49,232,650 40,550,00.
7,062,000147,952,000120,403,00
12,517,000 68,973,000 49,345,1i i
30.734,000 46,854.000 15,816,00
4,007.000 42,557.000 37,664,1.1
2,977.40 13.058,40
8,628,60
2,165.667 6,497,000 4,298,e ii
4,468,000 4,344,111
4,976,000 4,710,0
1,703,4o •
1,777,00
Sliver.
Total.
31,656,183
35.207.83: 176,623,258
11,060,900 51,610.900
6,028,000 126,431,000
12,234,000 61,579,000
32,275,00 48,091,000
4,600.00 42,264,000
4,071,4'I 12,700.000
6,447,000
2,149,0 I
4,344,000
4,710,000
1,703,000
Total week 488,481,241107,059,977595,541,218460,533,209107,626,132 68,159,341
Prey.week 484,776,176104,998,687589.774,863459.647,202108,649,29 68,296,492
140
THE CHRONICLE
THE BOSTON ELECTION.
The municipal election held in Boston last Tuesday
has resulted in what is admitted on all hands to be a
serious disappointment to the forces of good government. Not in very many years has so resolute an effort been made by the best element in the citizenship
of Boston to shake off the rule of a ring which, in Boston as in so many other cities of the United States,
has been constantly fastened on the city, first by the
thorough organization of the forces of bad government,
and second by the fact that the intelligent business
classes have Weir residences, and therefore their vote,
so largely outside the city's limits. The outcome of the
election was even more of a disappointment from the
fact that this was a 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 satisfaction, 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 made the most of the fact that
he was attacked, and appealed to his organization
and to his friends to vindicate him. A not insignificant fact about the matter was that the press of Boston was all but unanimous in support of Mr. Storrow.
Yet the result was as we have seen.
What is to be said of this singular test in the problem of municipal government? In the first place, it
must be confessed that it adds nothing to the experience
with which all cities have been confronted in the past.
There are years when the forces of good government
seem to be temporarily in the ascendant and there
are years when the forces of bad government appear
to have everything their own way. Victory is repeatedly followed by relapse. One need only look
back at some of our own municipal campaigns in New
York since the new city charter, from which so much
was expected, was introduced, to see how easily hopes
founded upon a change in the area of voting or in the
method of nomination and election may be disappointed.
It is fair to ask, however, whether the new scheme
of nommatidn at Boston -may not itself have contributed to the result in the present instance. The plan,
adopted at Boston toward the close of last year, was
somewhat peculiar. In the first place, no municipal
nomination was to be made either by convention or
primary, but each was to be based on petition of at
least five thousand voters. The result of the petition
plan, in the present instance, was the putting into the
field of two candidates in addition to the real protagonists—concerning whom it was rather generally alleged that the third and fourth candidates were placed
in the field for the purpose of drawing off votes from
[VoL. Lxxxx.
one or another of the main contestants. The result as
regards these other two candidates was somewhat
singular. Notwithstanding the fact that each of
them must have received an original endorsement of
five thousand votes before being placed in nomination, the actual polling of this week disclosed for one
of them, Mr. Hibbard, only 1,816 votes, and for the
other, Mr. Taylor, only 613.
This, to be sure, may be sufficiently explained by
the vigorous character of the campaign between Storrow and Fitzgerald and by the traditional unwillingness of an American voter to throw away his vote on a
candidate whose chance of success he believes to be
too small for serious consideration. The fact that at
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 refused to do so, lends some color of probability to the
popular theory as to the reason for nominating them.
It is impossible to deny, however, that this part of the
result throws a 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 nomination 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 exceeded 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
Fitzgerald would still have polled a majority. One
result freely predicted of the independent nomination
scheme has certainly not followed. There were many
critics who asserted that political chaos would ensue,
and that no one would know either who was leading in
the canvass or who had a chance of being elected at
the polls. Boston's experience, at any rate, indicates
that voters take their own measure of such probabilities.
•
There will no doubt remain, as a sequel to this
election, much dOubt and dispute over the merits of
the independent nomination plan. It is only fair to
say, however, that there are two sides to this matter,
as there are to all similar experiments in new plans of
nomination and voting. The possible confusion resultant on independent and non-partisan nominations
must be always present; but, on the other hand, the
removal of national politics as an issue is undoubtedly
furthered by this and similar expedients. It is at
least worth noticing that in the Boston . canvass
scarcely a word was said on either side regarding the
national issues as between Republican aid Democratic
parties. It would not be wise to overlook the fact
that this is a consummation toward which political
discussion and efforts at municipal reform have for
more than three decades been struggling.
Again, it has to be remembered that each new plan
such as Boston adopted last year is necessarily experimental. This fact merely emphasizes the general
JAN. 15 1910.1
THE CHRONICLE
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 as 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
another, could not be worse than the outcome under the
old and strictly partisan system of nomination and
election.
THE PRESIDENT'S PROPOSAL REGARDING
THE ANTI-TRUST LAW.
The recommendations made by President Taft in
his special message of last week with regard to adapting
the Sherman Anti-Trust Law to modern-day requirements 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 President'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 determination 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 production due to the concentration under one control
of large capital and many plants. If they use no
other inducement than the constant low price of their
product and its good quality to attract custom, and
their business is a profitable one, they violate no law."
141
But if they go further than that—"if they attempt by
a use of their 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
there is to be no relaxation in the efforts to prosecute
violations of the Anti-Trust Law. Not only that, but
the widest search is to be made to discover violations
of the law. The language employed on that point is
so broad and unqualified as to leave no doubt that the
President is both sincere and candid in his statement.
Here are his remarks bearing on the matter: "It is
the 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, organization 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 business on a plan, which is in
violation of the Anti-Trust Law." He admits that
"The work is a 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. corporations 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 forFederal 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 Congress 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 within the lines of the law under Federal control and supervision, securing compliance with the
Anti-Trust Statute."
142
THE CHRONICLE
Federal incorporation seems a very simple process
and if it involved merely the taking out of a Federal
charter and nothing else, we imagine that Federal incorporation would quickly become the popular
fad. But note the conditions that are to be imposed. The President's recommendation is for "the
enactment ,by Congress of a genefal law providing for
the formation of corporations to engage in trade and
commerce among the States and with foreign nations,
protecting them from undue interference by the
States and regulating their activities so as to prevent the
recurrence under national auspices of those abuses which
have arisen under State control." Mr. Taft then goes
on to say that "such a law should provide for the issue
of stock of such corporations to an amount equal only
to the cash paid in on the stock; and if the stock
be issued for property,then at a fair valuation, ascer,tained under approval and supervision of Federal
authority, after a full and complete disclosure of all the
facts pertaining to the value of such property and the
interest therein of the persons to whom it is proposed
to issue stock in payment of such property." Such
a law should also,it is stated,"require such corporations
to file full and complete reports of their operations
with the Department of Commerce and Labor at
regular intervals." Furthermore, "corporations or
ganized under this Act should be prohibited from
acquiring and holding stock in other corporations
(except for special reasons upon approval by the
proper Federal authority), thus avoiding the creation
under national auspices of the holding company with
subordinate corporations in different States, which has
been such an effective agency in the creation of the
great trusts and monopolies." We notice, however,
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 throughout 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
commerce is 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 companies 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
Supreme Court in this regard. Why, then, with
respect to any other form of inter-State commerce like
the sqe of goods across State boundaries and into
foreign commerce may the same power not be asserted?
[VOL. LXXX.X
The President has a bit of misgiving, nevertheless, in
one direction. How far, as incidental to the carrying
on of inter-State commerce, it may be within the
power of the Federal Government to authorize 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
in the affirmative.
The very point here made discloses the weakness
and vulnerability of the whole scheme. The corporations whose affairs the President would regulate,
supervise and control in the most thoroughgoing
fashion are engaged in the manufacture and production of goods and commodities. While thus engaged
in manufacturing and producing,they are carrying on
their operations wholly within the State, and hence
subject to State regulation alone. It is only when
the process of manufacturing and producing has been
completed and the goods and commodities are sent
by means of transportation lines into other States
for sale,that it can be claimed by any stretch of the
imagination that they are engaged in inter-State commerce. The transportation lines, it is well settled,
are subject to Federal regulation, though not unrestricted regulation even here. Can the Federal Government go further and encroach upon the rights of the
States to the extent of taking away from the latter
the right to regulate and supervise the business of
manufacturing carried on within their borders? Under
the bill which Mr. Taft has had prepared a company
with a Federal charter could not even be sued in the
State courts.
But supposing there were no constitutional doubt
whatever, think what it would mean for the Federal
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 Commissioner of 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
taken when the Federal Corporation tax was tacked
on to the tariff bill last summer. This tax the authorities 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
its attendant supervision and regulation, would involve too great centralization, President Taft makes
the rejoinder that as Federal incorporation would be
JAN, 15 1910.1
THE CHRONICLE
143
for the first quarter of the year at 82 leading cities was
a gain of 96.6% as compared with 1908 and 22.1%
contrasted with 1907. During the next quarter
(April to June, inclusive), there was continued activity, particularly in May, and the half-year's result
at the 82 cities was a gain of 66.1% over 1908 and an
increase of 36% over 1907. Even during the late summer and early fall operations continued well above
1908; consequently, for the nine months the excess
over that year was 52.6% and the gain over 1907
reached 13.9%. With the coming of October, comparison was made with the beginning of the period in
1908 when the revival set in, and,after the activity of
preceding months of 1909, it was not surprising that
in that month, as well as in November, the gains over
the same month of the previous year should have
been almost nominal. The closing month of the
year (December), however, made a very satisfactory
comparison with the full figures of the same period of
1908, results at hand from 80 leading cities showing an
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 counentered 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 inwas 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 into the details of the annual compilation, but there
are subject to frequent rebounds. At.this point, too, are some facts which call for special notice. Naturally,
there was a sharp illustration of such a prospect in the result for Greater New York claims first attention,
current events—a change of policy impending with covering as it does nearly 30% of the whole aggregate
the change in the Federal Administration —that given in the statement. For the combined boroughs
would, it was felt, be more favorable to our industrial the building operations entered into in 1909 showed
ventures than the previous Administration.
an increase of 52.2% over 1908, the gain in Manhattan
As a preliminary to reviewing the results in the build- having been 51.1%, in the Bronx 82.7%, in Brooklyn
ing industry in 1909, we would recall to mind that 51% and in Queens 34.2%. Richmond (Staten Island)
even before the panic of the fall—in fact, from the on the other hand, exhibited a decrease of 8.1%. Combeginning of the year 1907—construction work was pared with 1907 and 1906, Manhattan, Bronx and
less active than in the preceding year. But with the Queens recorded more or less of a gain, but in Brookoccurrence of the panic an important decline was lyn and Richmond losses were in evidence. Other
witnessed and comparative inactivity characterized cities in the Middle States record large gains over 1908
the course of affairs quite late in 1908—indeed, until and quite generally over 1907 and 1906 as well.
September of that year,when some revival of building Philadelphia, Pittsburgh, Newark, Buffalo, Rochester,
operations occurred, concurrent with improvement in Baltimore, Scranton, Passaic and the Oranges in fact,
general business conditions, while in November and with the total for the 33 cities (other than New York)
December operations were of unprecedented propor- in that section which our compilation includes,exhibittions for that time of year. The radical industrial ing an excess of 48% over 1908, and gains of 26.5%
revival that then set in continued to progress to a and 17.4% respectively over 1907 and 1906.
greater or less extent throughout 1909, giving for the
Increases were quite general in New England, and
full year of 1909, as stated above, a total of contem- conspicuously large at Bridgeport, Worcester, New
plated outlay for building construction well in excess Bedford, Lynn, Salem and Somerville, with the agof the aggregate for any earlier year in our history. gregate for the 25 municipalities from which we have
This revival was of course marked by!decided activity returns exceeding 1908 by 39.1% and 1907 and 1906 by
in the many and various trades from which supplies 16.4% and 28% respectively. The Middle West
for building purposes were required. The steel trade shows up well also, important gains being numerous,
in particular reported unprecedented activity. As not the least of which is the 46.6% at Chicago; and the
a consequence, the year 1909 opened very auspiciously. 31 cities that have reported to us for 1909 show exContracts entered into in January covered anticipated cesses of 33%, 28.2% and 28.1% respectively comexpenditure double that of the same month in the pared with the three preceding years.
previous year, February made much the same exhibit,
On the Pacific, the exhibit is much the same as
and March was not far behind. In fact, the result elsewhere, except at San Francisco and a few other
voluntary, a good many corporatioris would not avail
of it because of the burden which complete Federal
supervision and control would impose. But this reply
is robbed of force by the fact that the Anti-Trust Law
is not to be amended and that Federal incorporation
would be the only chance of escaping from the effects
of the operation of that destructive statute, especially
since the President has, as we have seen, announced
his purpose and determination to make extensive
investigations in order to ferret out possible violations
of the law and punish them. Latest advices from
Washington are to the effect that the President's proposals are so far-reaching that even some of the most
radical Congressmen are debating whether it would
be desirable to go to such lengths at the outset. To
us it seems clear that to prevent blight from spreading
all over the business community it will be necessary
to let it be known very quickly that the whole scheme is
to be dropped.
[VOL. Lxxxx.
THE CHRONICLE
144
We have also secured building construction returns
points in California, where the year's figures compare with the phenomenal building activity that fol- from a number of Canadian cities, and they are in line
lowed the earthquake and fire. Important gains as with those for the United States in disclosing conspicucompared with all earlier years are shown by cities in ous activity in 1909. In almost all localities much
Washington and Oregon, and the 17 returns we have more was done in the year lately closed than in 1908,
from Pacific cities give an aggregate excess over 1908 as the large increases in contemplated outlay at Ottawa,
of 10.2%, but contrasted with 1907 (the extreme ac- Calgary, Fort William, London, Sydney and Winnipeg
tivity at San Francsico in that year being responsible) clearly indicate. At the same time declines are shown
at a few points. For the 18 cities included in our comthere is a loss of 14.3%.
The "Other Western" States, comprising the terri- pilation which is subjoined, the expenditures arranged
tory west of the Mississippi River to the Pacific slope, for in 1909 totaled $60,110,415, as against $41,035,134
are not behind the rest of the country in showing build- in 1908, or an increase of 46.5%, and there are also
ing activity in 1909. In fact, it is there that many of important gains as compared with either 1907 or 1906.
the greatest gains,as regards percentages,are recorded. The table follows.
CANADIAN BUILDING OPERATIONS.
Rapidly growing municipalities, such as Des Moines,
1909.
1908.
1906.
Inc. or
1907.
Wichita, Lincoln and Leavenworth, all more than
Dec.
$
$
$
18,200,000
14,225,800
13,156,652
13,160,398
+38.3
Toronto
doubled their 1908 totals, and more important cities, Winnipeg
9,226,325
5,444.650 +69.5 6,309,950 12,625,950
665,455
735,175
626,474
820,465 -23.7
like Omaha, St. Paul, Minneapolis and Duluth, exhibit Halifax
67,015 +139.4
160,470
Sydney
large gains. The average addition for the 27 cities St. John, N B
385,700
275,450 +40.0
7.783,565 5,062,326 +53.8 8,406,829 8,639,388
reporting is 34.6% as compared with 1908, and 36.3% Montreal
289.855 +51.9
439,235
Brantford
and 23.8% respectively over 1907 and 1906. The Fort William
779.070
748,733
1,560,735 +89.7
2,960,370
+8.5 2,761,385 *2,000,000
1.571,100
1,448,357
South and Southwest is represented in our table by 29 Hamilton
851,154
458.980 +85.7
London
municipalities, and of these Oklahoma, with a gain of Ottawa
4.527,590 1,794,075 +152.3
236,983 +45.7
344,589
240.3% over 1908, records the greatest advance, with Peterboro
158,500
139,700 +13.5
Stratford
431,525 +37.6
593.910
Fort Worth, 193.5%, Knoxville, 187.9%, and Macon, Moose Jaw
744,459
516,646 +44.1
Regina
140.1%, following. The total for all the Southern Calgary
2,420.452
1,745,220 *1,000,000
830,950 +191.3
2,124,166
2,280,210 1,868,069
2,549,847 -16.7
cities gives an augmentation of 35.2% over 1908, and Edmonton
4,308,410
6.992,356 5,950,923 +17.5 5,622.744
Vancouver
increases of 23.7% and 19.9% over 1907 and 1906.
60,110,415 41,035,134 +46.5 42,766,326 45,116,480
Total, 18 cities
Finally, for the whole country outside of New York, * Estimated.
the gain as contrasted with 1908 is 31.8%, and compared with 1907 and 1906 is 18.8% and 19.4%. Lack ITEMS ABOUT BANKS, BANKERS 86 TRUST CO'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
trust company stocks reach a total of 152 shares. Fifty
each section of the country, together with the totals shares of National Park Bank stock were sold at 470 9, 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 Lawyers' Title
New York CityManhattan
Other Boroughs
BUILDING OPERATIONS.
1907.
1906.
inc. or
1909.
1908.
Dec.
3
$
144,332.212 95,516,177 +51.1 91,723,799 126.075,565
122,716,314 78,641,442 +56.1 105,894,916 114,988,893
267.048,526 174,757,619
Total
10,077,365 7,030,126
Buffalo
9,272,132 4,973,317
Rochester
14,177,159 7,161,668
Newark
42,881,370 28,408.580
Philadelphia
16,549,526 13,244,147
Pittsburgh
7,913,296 6,374,653
- Baltimore
Other Middle,27 cities_ _ 47,639,389 32,696,753
14,078,646 11,253,712
Boston
3,440,925 3,107.348
Hartford
Other N. E.,23 cities_._ 46,575,949 31,548,401
98,559,300 67,234,800
Chicago
7,802,954 6,428,988
Cincinnati
12,481.214
9,761.869
Cleveland
3.400,273
3,598,601
Columbus
7,156,560 5,905,929
Indianapolis
14,301,450 10,682,170
Detroit
11,587,551 10.065.666
Milwaukee
0th. Mid. West, 24 cities 23,228.374 20,228,670
13,260,703 9,975.000
Los Angeles
5,318,112 6.320,562
Oakland
13,366.580 10,405,151
Portland
28,540,288 81,673,341
San Francisco
19,044.335 13.777.329
Seattle
5,927,538
8,766,226
Spokane
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
blInneapolLs
13.092.410 10,093,915
St. Paul
7,625,135
12,089,451
Omaha
7.204,140 4,590.650
Other West, 21 cities__ _ 27.893.260 17,551,587
Atlanta
4,833,941
5,551,951
New Orleans
5,165,512 5.744,311
Washington
13,720,593 9,153,403
Richmond
3.574.812 3,169.431
3,096,876 2.688.304
Louisville
5,903,270
Oklahoma
1,734,948
3,393,683
Dallas
2,306,098
4,324.377 3,300,508
Memphis
Other South., 21 cities- - 28,235,454 21.545.785
+52.2 197.618,715 241.064,458
+43.3 8,567,328 8,668,030
+86.4 0,752,615 6.175,499
+97.9 9,546,725 10,411,328
+50.9 36,352,075 40,711,510
+25.0 14,809,586 17,952,161
+24.1
6,439,580 8,611,708
+45.7 34,891.229 34,143,414
+25.1 15,071,419 *15,000,000
4.054,335 3,732,915
+10.7
+47.6 36,662,970 31,582,108
+46.6 59,093.080 64,822,030
+21.4 7,737,062 7,101,866
+27.9 15,888,407 12,972,974
+5.9 4,188,295 4,006,175
+21.2 5,953,726 5,530.972
+33.9 14,223,300 13,275.250
+15.1 11,795.620 9,713,284
+14.8 20,414,744 20,986,883
+33.0 13,851,154 18.502,466
-15.6 8,243,983 7,690,195
9.446,982 6,902,032
+28.4
-9.9 56,578,844 34.927,396
+38.2 13,572,770 11,920,488
5,778,876 3,701,859
+47.9
+0.3 18.315,773 16,710,470
+14.4 6,349,604 7.000.996
+26.6 9,611,922 10,765,480
+12.2 21,893,167 29,938,693
+29.7 10,006,485 9,466,150
+58.5 9,750,000 9,537,449
+56.9 4,536,643 4.273,050
+58.9 17,371,300 16,803,795
+14.8 4,554,771
5,156,149
4.710.523 5,563,437
-10.1
+49.9 13,166,166 12,101,876
+12.8 *2,500,000 *2,800.000
+15.2 3,032,548 5,116,917
2,616,050
1,343,000
+240.3
2,248,070 *2,200,000
+47.1
4,346,767
+31.0 4,957,997
+31.0 21,513,930 22,320,051
940,984,112 686.048,434
Total 163 cities
Outside New York_ _ _673,935,586 511.290,815
*Estimated.
+37.2 764,758,969 805,551,281
+31.8 567,140.254 564.486,823
Insurance dz Trust Co. stock was sold at 310, an advance
of 6734 points 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
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.
Low. High. Close.
Shares. BANKS-New York
255. 255Y
90 Amer. Exch. Nat. Bank___ 255
162..4 162
5 Citizens Cent. Nat. Bank__ 162
203
208
*30 Commerce, Nat. Bank of___ 202
204
204
200
•53 Fourth National Bank
1
1
1
*100 Do Rights
565
5893-5
565
&
Bank_
a12 Imp. Traders' Nat.
208
208
100 Irving Nat. Exch. Bank_ _ ._ 208
351
351
20 Manhattan Co., Bank of the 351
33 Market & Fulton Nat. Bank_ 260.i 26014 2603
270
9 Mechanics' National Bank_ 270
270
282
282
282
20 Mutual Bank
330
27 New York, N.B.A.,Bank of_ 329M 330
50 Park Bank, National
4703i 470 M 4703
TRUST COMPANIES-New York.
328
328
326
50 Columbia Trust Co
435
435
425
25 Fifth Avenue Trust Co
310
310
25 Lawyers' Title Ins.& Tr.Co_ 310
1280 1260 1260
2 United States Trust Co
363 g 363 g 363 g
50 Washington Trust Co
M
Last Previous Sale.
Nov. 1009- 249
Oct. 1900- 1603
Jan. 1910- 204
Jan. 1910- 204
Jan. 1910- lg
Dec. 1909- 567 3i
Dec. 1909- 208
Nov. 1909- 345
Dec. 1909- 280 g
Dec. 1909- 311
May 1908- 299 g
Dec. 1909- 327
Dec. 1909- 456j
Oct.
Sept.
Nov.
Deo.
Dec.
1908- 218
1909- 395
1909- 242'%
1909-1260
1909- 385
• Sold at the Stock Exchange. a Of this amount 1 share was sold at
the Stock Exchange.
-In an address on "Difficulties Confronting a Central
Bank," delivered Wednesday night before the Finance Forum
of the West Side Young Men's Christian Association, Charles
H. Treat, formerly Treasurer of the United States, advocated a Central Bank or National Clearing House Bank. He
said he preferred the latter name because in several commercial crises the clearing-house banks in many large cities
had rendered efficient services by pooling their resources and
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 than
200 million dollars and not exceeding 300 million dollars, with shares of
JAN. 15 1910.1
THE CHRONICLE
$500 each. Its stockholders might include national banks and State banks
of the country, 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
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
its capital in the shares of the new bank, on terms to be agreed upon.
Its board of directors shall be impartially chosen, representing fairly
the groups of banks in the different parts of the country, whereby concentration 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
so. 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.
It shall be authorized to deal in foreign exchange.
It shall discount approved loans offered by its shareholders at not exceeding 85% of its face value, the balance remaining on deposit until maturity 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 National Clearing-House Bank, on approved commercial notes and securities,
indorsed by the previous discounting bank and guaranteed by the National 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 investment 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.
handed down an opinion upholding the Appellate Division
(First Department) of the New York Supreme Court in declaring 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.
The case in which the decision was rendered was that of
John S. Ferguson of Benjamin, Ferguson & McMurtry, of
49 Wall Street, who, for the purpose of instituting 9. 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 Legislature. The Appellate Division of the Supreme Court in
March 1908 declared the section to be unconstitutional, stating 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 evidence 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 Appeals, written by Judge Hiscock and concurred in by all
except Judges Haight and Vann, similarly holds the statute
to be in violation of the Constitution. We quote the following from the opinion:
145.
S. B. Chapin & Co., 111 Broadway, has been suspended from.
the New York Stock Exchange for 60 days, and S. D.
Countiss, the other Exchange member of 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 50/5g 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:
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 committee to investigate the matter, with the result that the Secretary 61 the
Exchange preferred charges against Simeon B. Chapin and Frederick D.
Countiss, members of the Exchange, and members of the firm of S. B. Chapin dc Co., under Section 8 of Article XVII. of the constitution, relating to
acts detrimental to the interests and welfare of the Exchange.
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 advance 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 of
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 a meeting of the Governing Committee yesterday the committee found
Simeon B. Chapin and Frederick D. Countiss guilty of the charge and specification, and suspended Mr. Chapin for sixty days. Mr. Countiss, who was
the resident partner at Chicago, was suspended for thirty days.
Section 11 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 statement was also issued by Chapin & Co., setting out
its connection with the matter as follows:
We received an order on Dec. 27 from a customer to buy 40,000 shares of
Rock Island common at the market at the opening, and were expressly directed to give it out to twenty brokers to buy 2,000 shares each. The execution of the order caused trouble and confusion, but in doing this we
simply acted as directed and our customer paid for the stock the following
day.
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. The
result was purely an accident, which has not happened in a similar case.
The disturbance could not possibly have been foreseen, and a similar occurrence is unlikely ever to happen again.
There has been no imputation or suggestion of wrong-doing on our part. $1. We will continue to conduct our business as usual, but will give out our
orders for execution on the New York Stock Exchange to other brokers
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
National City Bank of this city at Tuesday's annual meeting.'
Gerrish H. Milliken, of Deering, Milliken & Co., and G. H.,
Church have been added to the bank's directorate. Mr.
McEldowney, the new Vice-President, was an Assistant
Cashier heretofore.
—Lewis L. Clarke has been elected President of the American
Exchange National Bank of this city, succeeding his
The resistance of the relator Ferguson to the attempt of the State Comp'
troller's representative to invade the privacy of his books, papers and confi- father, the late Dumont Clarke. The new President addential business transactions, with the hope of procuring against him
some vances from the vice-presidency, and is replaced in the
incriminating evidence, was justified. The Court never has decided, di- latter office by
Edward Burns, and Walter H. Bennett takes
rectly or indirectly, that the Legislature could compel a person to
submit the post of Cashier formerly held by
Mr. Burns. Mr. Benhimself or his private books for examination in an investigation
of which
the primary purpose was to discover that he had been guilty
of offenses nett is succeeded as Assistant Cashier by A. K. de Guiscard.
for which, by aid of the evidence thus discovered, he
could be punished Basil W. Rowe, Treasurer of the Adams Express Co., has
criminally or by penalty. No entry of any confidential
transaction would been elected a director
of the bank, succeeding the late Mr.
protected
by
the prying search of the public official. The
be
statute could
not, under the process and penalties prescribed, compel a
person to sub- Clarke.
mit to an investigation of books and papers kept in his private
business
—The proposition to increase the capital of the Chatham
for the purpose of furnishing evidence which might be used
against him as
National Bank of this city from $450,000 to $600,000 was
a basis for criminal prosecution or suits to recover penalties. It
offends Section 6 of Article I of our Constitution, against compelling an
individual in a ratified by the stockholders at the annual meeting on Tuescriminal case to be a witness against himself. It seems to
me that this day. The new stock,
par $25 per share, will be issued at
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 conies 320%. It will be recalled that a large interest in the instiwell within the principles which have been applied to the
interpretation of tution was acquired in the fall by a syndicate composed Of
the Constitution.
F. W. Ayer and William A. Law, Tespectively President and
—As a re-svIt of the sensational fluctuations in the
common Vice-President of the Merchants' iNational Bank of Philastock of the Aoels Island Co, ontthe New York
Stock Ex- 'delphia,ex-Gov. Myron
Herrick of Ohio,and Sylvester C.
change on Monday,-.Dec.' 27,- S. B: Chapin Of the'
firm
Dunham, President of the Travelers' Insurance Co. Mr.
•
146
THE CHRONICLE
Law, it is stated, was elected to the board of the Chatham at
a recent meeting, to fill the vacancy caused by the death of
John H. Washburn. The changes in the board which occurred this week were the election, as additional directors,
of August Heckscher, Charles C. Lloyd, Robert H. Rucker
and Joseph H. Wright.
—Samuel H. Miller, Cashier of the Chase National Bank
of this city, was elected a Vice-President this week. With
, an Assistant
Mr. Miller's promotion, Henry M. Conkey,
Cashier, has been advanced to the e,ashiership.
—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 0. H. Bartine, the new members succeeding B. F. Elgar, second, T. P. Spencer, D. G.
French and Dr. H. R. Connor.
—Two newly-elected directors in the Central Trust Co. of
this:city are Edwin G. Merrill,Vice-President of the institution,
and Dudley Olcott, President of the Mechanics' & Farmers'
Bank of Albany, N. Y.
—James N. Wallace, President of the Central Trust Co.,
has been elected to the board of the Mechanics'& Farmers'
Bank of Albany.
—Pierre Jay, a vice-president of the Bank of the Manhattan Co., has been elected a director of the institution to
succeed the late John Stewart Kennedy.
—H. H. Powell, Cashier of the Importers' & Traders'
National Bank of this city, has in addition been made a
Vice-President. Henry C. Hulbert has also been elected a
Vice-President of the bank. John J. Lapham has been
ele,eted a director to take the place of James R. Plum,
deceased.
—Some of the changes in directorates which have occurred
at the annual meetings of local banking institutions this week
and which are not noted elsewhere in this department, are
as follows:
Audubon National Bank—J. F. Oltrogge and Louis Anon Ames have been
added to the beard, increasing the membership to 15.
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 Lill the vacancy
caused by the resignation of James Stillman.
Century Bank—Thomas A. Looming and W. A. Gillispie elected to the
board. succeeding James H. Cobb and Edgar 0. Silver, deceased.
Chemical National Bank—Henry P. Davison. of J. P. 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, controlling 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 & Co., and
L. F. Lome. President of the Delaware 6: 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 election 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 membership 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. Gllion, 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.
(VOL. Lxxxx.
of the New York State Bankers' Association at the WaldorfAstoria next Monday night.
—The board of directors of the enlarged Guaranty Trust
Co., resulting from the merger of the Morton Trust Co. and
the Fifth Avenue Trust Co. with the Guaranty Trust, as reviewed 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 Guggeqheim,
Edwin Hawley, Alexander J. Hemphill, Augustus D. lullliard, Thomas W. Lamont, Robert S. Lovett, Edgar L.
Marston, Gates W. McGarrah, Levi 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
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 Treasurer of the Audit Company of New York to take up official
duties in the Quincy, Manchester, Sargent Co., Mumford
Moulding Machine Co., Motor Parts Co., Reading Steel
Casting Co., European Brake Shoe Co. and allied interests.
The resignation takes effect Feb. 1. Edward T. Perine resigned as President of the company in November to become
First Deputy State Comptroller.
—Pending the erection of the proposed new building on
its present site at Wall Street, corner of Nassau, the Man- •
hattan Trust Co. has arranged to occupy the quarters of the
National Copper Bank at 115 Broadway. The latter gives
up the offices with its merger with the National Mechanics'
Bank. The Manhattan's lease of the Broadway offices is
for a term of two years beginning April 1 next.
—Hamilton McK. Twombley, identified with numerous
railroad interests and a director of several banking institutions, died on Tuesday. He was in his sixty-first year.
Mr. Twombley was a son-in-law of the late William H. Vanderbilt and was associated with the Vanderbilts in the various 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 &
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 & Co. Later, with the
retirement of Mr. Marquand, who was an uncle of Mr. Head,
it was changed to Hill, Head & Co., the name becoming
Charles Head & Co. when Mr. Hill retired in 1877. Mr.
Head was formerly President of the Boston Stock Exchange
and had been a member of its Governing Committee for
some time past.
—The purchase of 13;000 shares of stock of the Lawyers'
Title Insurance & Trust Co. of this city by Goldman, Sachs
& Co. and Lehman Brothers has been effected. The holdings were acquired from the Equitable Life Assurance Society, 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 32M% interest in the Lawyers'
Title, which has a capital of $4,000,000. An announcement 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
stock In the 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 representatives of the former interests. The incoming members are to be Henry
Goldman, Philip Lehman and Adolph Lewisohn, President of the United
Metals Selling Co.
—William M. Kern has become Treasurer of the Dollar
—Senator Aldrich, F. Hopkinson Smith, Woodrow Wilson
nd Secretary of the Treasury Franklin McVeagh are the Savings Bank at Third Avenue and 148th Street. Harry F.
Regal has been chosen Secretary—the post heretofore held
,eakers announced for the annual dinner of Group VII
J AN. 15 1910.]
THE CHRONICLE
by Mr. Kern. Joseph H. Jones has been elected a trustee
of the bank.
—The Nineteenth Ward Bank, at Third Ave. and 57th
St., Warner M. Van Norden, President, and Theodore
Langdon Van Norden, Vice-President, published last week
an interesting comparative statement of business for the
past seven years. This active institution, with 20,529
accounts and several branches, has steadily increased its
deposit line among the residents of the East Side district.
Beginning with Aug. 24 1903, when deposits were $1,529,469,
the comparison is as follows: $1,751,236 Jan. 1 1904;
$3,087,923 Jan. 11905; $4,097,282 Jan. 11906; $4,321,333
Jan. 11907; $5,235,537 Jan. 1 1908; $5,637,683 Jan. 11909,
and $7,869,821 Jan. 1 1910. Capital was $300,000 and surplus and profits $403,412 Jan. 1 1910.
—Certain assets of the failed New Amsterdam National
Bank of this city offered at public auction on the 10th inst.
by John W. McKinnon, agent for the shareholders, were
disposed of to the Assets Realization Co. for $210,000. The
latter's bid was the only one received. The bank failed on
Jan. 27 1908. The depositors were paid in full, together
with interest at 6%, the final payment having been made
in February 1909.
--Ralph Peters, President of the Long Island RR., has
been elected a director of the Franklin Trust Co. of Manhattan 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
succeed the late Moses May on the board of the First National
Bank of Brooklyn.
—Assistant Cashier William J. Bennett of the Mechanics'
Bank of Brooklyn has been chosen to replace the late James
Raymond as a director of that institution.
—Edwin P. Maynard, Comptroller of the Brooklyn Savings Bank, has been added to the board of the Nassau National Bank of Brooklyn.
—The law firm of Sullivan & 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 expected to be made in the near future. Sullivan & Cromwell
are the counsel for the Thomas trustees and the Equitable
Trust Co. is the depositary.
—Benjamin Strong Jr., Vice-President of the Bankers'
Trust Co. of this city, has been elected a director of the
Astor Trust Co.
—At the meeting of the new board of directors of the
Lincoln National Bank of this city held on Thursday, Charles
Elliot Warren, Cashier of the bank, was elected Vice-President. Mr. Warren was formerly President of the New York
State Bankers' Association, is now a member of the Finance
Committee and Executive Council of the American Bankers'
Association, and also a director and Treasurer of the Erie
& Kalamazoo RR. Co. of the New York Central lines.
David C. Grant, Assistant Cashier, has been appointed
Cashier to succeed Mr. Warren, and John S. Sammis Jr.
and Henry E. Stubing have been appointed Assistant
Cashiers.
—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 successful conclusion. From official advices we learn that the
Mechanics' some time ago submitted a proposition to the
trust company 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
147 ,
$1,000,000 capital, surplus and profits of 8935,000 and deposits in the neighborhood of $14,000,000.
—In the Brooklyn Bank the following are new members
of the board: Charles B. Hobbs, Warren P. Diefendorf,
Frederick C. Truslow, G. A. Vaughan and Otto Wissner.
They replace S. S. Menken, Nelson G. Ayres, Charles K.
Beekman, Erskine Hewitt and William A. Prendergast.
—The Union Bank of Brooklyn Borough has three new
directors in Eugene J. Grant, P. J. Menahan and Arthur G.
Stone.
—In the Hamilton Trust Co. of Brooklyn the new directors are Charles E. Keator and James C. Cropsey.
—The death of Moses May, a Jewish citizen of prominence
in Brooklyn, occurred on the 9th inst. Mr. May was born
in Strasburg seventy-seven years ago, and at the age of
nineteen came to this country, settling in Brooklyn, where
he later founded the slaughter house of Max Levy & May.
Mr. May was one of the organizers and the first President of
the Broadway Trust Co., Manhattan, formed in 1902, but
resigned the presidency six years ago. At the time of his
death he was a director of that institution, the First National
Bank of Brooklyn, the Williamsburg Trust Co. and the
Empire State Surety Co., and Vice-President of the Bushwick Savings Bank of Brooklyn.
—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. The directorate as now constituted consists of Charles M. 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 & Co.
of New York.
—Eugene Satterlee, President of the Lincoln National
Bank of 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 Heidelberg and Berlin colleges, and the Albany Law School,and in
1872 was admitted to the bar. He was a law practitioner
from 1874 to 1905. Mr. Satterlee had been President of the
German American Bank Of Rochester, which in 1905 consolidated with the Flour City National Bank, forming the
National Bank of Rochester. With the consolidation, he
assumed the presidency of the latter, the name of which
was changed last year to the Lincoln National Bank.
—John Foster, Vice-President and Cashier of the National
Bank of Commerce of Providence, R. I., died on Dec. 31 in
his seventy-fifth year. Mr. Foster •had been associated
with the bank almost from its 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
elected Vice-President and John G. Massie has been appointed Acting Cashier.
—William J. Montgomery has been elected President of
the 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
retires.
—S. S. Marvin has been elected to the directorate of the
Union National Bank of Philadelphia, succeeding the late
Joseph S. Knight.
148
THE CHRONICLE
—Dimner Beeber is a new member of the board of the
Tradesmen's National Bank of Philadelphia.
—The new City National Bank of Baltimore completed
its organization on Tuesday, the 11th inst., and two days
later, the 13th, opened for business. The bank is located
in the United Surety Building, 15 South St. Its officers are
President, David H. Carroll, Vice-President of the Consolidated Cotton Duck Co.; Vice-Presidents, John F. Sippel
and Michael Schloss, and Cashier, Harry M. Mason. The
bank has a special feature—an investment department,
where inquiries with regard to the merit of investment securities will be looked after. It has also installed a woman
Cashier in a department provided for the accommodation of.
its woman patrons.
—A merger of the Fourth National Bank of Pittsburgh
with the National Bank of Western Pennsylvania of that
city has been approved by the directors of the Fourth and
recommended for the acceptance of its stockholders, who
will meet on Feb. 14 to act on the proposition. It is intended to increase the capital of the Western Pennsylvania
National from $500,000 to $1,000,000, its stockholders,
who will ratify the arrangements on Feb. 10, receiving a
stock dividend of 55%, and the remainder of the new issue
being allotted to the stockholders of the Fourth. The latter
has a capital of $300,000 and deposits of about $800,000.
At this week's annual meeting of the National Bank of Western Pennsylvania,President Stewart of the Fourth and Cashier Phillips, Cashier of that bank, were chosen as officers of
the Western Pennsylvania, the complete official staff of
which is as follows: Charles McKnight, President; D. G.
Stewart and G. S. Macrum, Vice-Presidents; J. S. M. Phillips, Cashier, and H. C. Burchinal, Assistant Cashier.
—The business of the private banking house of S. Kuhn
& 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
his three sons, Louis, Simon and Charles. The entire ownership 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
in cash. Louis Kuhn was elected a Vice-President of the
Fifth-Third at this week's annual meeting, thus giving the
bank three Vice-Presidents, William A. Lemmon and Edward A. Seiter holding similar posts. While the merger
took effect on Monday the 10th inst., formal approval to
the proceedings will be given by the stockholders of the bank
on the 22d inst.
—Several changes occurred in the personnel of the official
staff of the Harris Trust & Savings Bank of Chicago this
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 boEird 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 becomes 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 addition to his new duties as Chairman of the board. The selection of Mr. Farr, who has been First 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.
Vice-President G. P. Hoover will have direct supervision of
the banking department, while the corporation department
will be in charge of Vice-President Andrew Cooke.
—B. C. Sammons, for several years an Assistant Cashier
of the Corn Exchange National Bank of Chicago, has been
elected a Vice-President of the bank.
—John A. Richardson has been elected Third Vice-President of the Chicago Title & Trust Co. of Chicago, a position
created this week. Mr. Richardson has held the office of
Secretary, in which he is succeeded by Justin M. Da11, heretofore an Assistant Secretary.
—S. R. Flynn has retired from the presidency of the Live
Stock Exchange National Bank of Chicago and the Stock
Yards Savings Bank. William A. Heath, Vice-President
of the Hibernian Banking Association of Chicago, is slated
for the presidency of the Live Stock Exchange National
Bank. Prior to his engaging in the banking business in
Chicago, Mr. Heath was for some years a State bank examiner in Illinois. With his change in bank relationship,
Mr. Heath retires from the directorate of the Hibernian.
Ex-President Flynn, who was formerly Vice-President of
the Second National Bank of St. Paul, has determined upon
a year's rest at least, and, with his family, will sail for Europe
next month. In the presidency of the Stock Yards Savings
Bank he is replaced by C. N. Stanton.
—The stockholders of the First National Bank of Chicago
re-elected all the old directors and added three new names
to the list—B. E. Sunny, President of the Chicago Telephone
Co.; Clarence M. Woolley, President of the American Radiator Co., and Frank 0. Wetmore, one of the Vice-Presidents
of the bank. The stockholders also approved the proposition to increase the bank's capital from $8,000,000 to $10,000,000.
—William C. Cummings was promoted to the presidency
of the Drovers' Trust & Savings Bank, Chicago, and William
A. Tilden, who had been President, accepted a vice-presidency. Murray M. Otstoot has been made Cashier.
—E. R. Bliss, who has been acting President of the Metropolitan 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.
The board of directors has one addition, Colonel Bliss.
Monetarg]Tommercialignolisttgews
English Financial Markets—Per Cable.•
The daily closing quotations for securities, &c., at London,
as reported by cable, have been as follows the past week:
London.
Tues.
Mon.
Wed. Thurs.
Sat.
Week ending Jan. 14.
24 3-16 24 3-16 24,
H
d 24H
24H
Silver, per oz
82 11-16 82H
82 9-16 82%
Consols, new, 2H per cents_ 82H
82 11-16 82%
82 11-16 82 13-16 82K
For account
99.10
99.02H 99.05
99.10
French Rentes (in Paris), fr. 99.20
89K
903
90
88%
Amalgamated Copper Co_ _. 90%
10%
11
10%
10%
10H
b Anaconda Mining Co
124H
124
126
124H
Atchison Topeka & S. Fe...125H
107
106H
107
106H
106H
Preferred
122H
121
121H
121H
120H
Baltimore & Ohio
96
,96
96
96
96
Preferred
185H
185K
185H
ing
185K
Canadian Pacific
91H
92H
92%
93H
Chesapeake & Ohio
93K
155H
157H
157H
159H
160
Chicago Milw. dr St. Paul
50%
49H
52
53H
52
Denver & Rio Grande
iiig
85H
85H
86
86
Preferred
34
34H
34
34H
34%
Erie
52
53
53
54
53
First preferred
41H
41H
41H
42
42
Second preferred
150
150
150
151
149H
Central
Illinois
161
160H
160
162
162
Louisville & Nashville
50g
50H
51g
49H
Missouri Kanixt & Texas_ _ _ 51H
76
76
76
76
76
Preferred
64
64
63%
63
Nat. RR. of Met., 1st pref.- 64
26H
26H
26H
26K
26K
Second preferred
127%
126
125
125K
N. Y. Cent. dr Hudson ItIv_ _128
50H
49H
50%
50
50H
N. Y. Ontario & Western
100H
101H
101H
101
101
Norfolk & Western
02
92H
92
92H
92
Preferred
142H
145H
147
147H
147
Northern Pacific
69%
69H
70H
6934
69
a Pennsylvania
c84
85H
86
85H
86
a Reading
47K
47H
47K
47H
47H
a First preferred
54
54
55
55
55
a Second preferred
46
47
48H
48H
48H
Rock Island
137%
138H
138H
140H
141H
Southern Pacific
33
32%
33H
33H
33H
Southern Railway
74
74H
75
75H
75H
Preferred
204H
205
203H
207H
Pacific
207K
Tinton
105H
105H
104H
106
105H
Preferred
90
89H
91H
89H
90%
U. S. Steel Corporation
127
127H
127
120H
127H
Preferred
25g
26
24%
26
Wabash
233.Z
57H
59
56
54%
59
Preferred
77H
78H
77H
78H
78H
Extended 4s
a Price per share. b .£ sterling. c Ex-dividend.
•
Fri.
24 3-16
82 13-16
82 15-16
99.10
88H
10H
124H
1063.
120%
96
185%
92
156
49H
84H
34H
52H
41
150
160
49H
75H
63H
26
126
49
101H
92
143H
69H
84H
47H
54
46H
138H
32%
74
203H
105
89H
128!I
24
55
77
149
THE CHRONICLE
JAN. 15 1910.]
o nrnxerciat and Dlistellantonsgnus
DIVIDENDS. •
The following shows all the dividends announced for the
Breadstuffs Figures brought from Page 178.-The state- future by large or important corporations:
Dividends announced this week are printed in, italics.
ments below are prepared by us from figures collected by
the New York Produce Exchange. The receipts at Western
When
Books Closed.
Per
lake and river ports for the week ending last Saturday and
Name of Company.
Cent. Payable.
Days Inclusive.
since August 1 for each of the last three years have been:
Receipts at-
Flour.
Wheat.
I
Corn
Rye.
I Barley.
Oats.
I
bbls.196lbs. bush. 60 lbs. bush. 56 lbs. bush.32 lbs. bush.481bs. ha.56 lbs.
24,000
Chicago _
480,000
186,655
200,400 2,143,750 1,422,200
16,000
223,600
Milwaukee__
172,500
63,175
156,200
89,100
5,928
177,802. 133,293
Duluth
1
367,034
3,345
61,430
440,250
201,470
235,320,
Minneapolis_
2,390,770
4,000
45,750
Toledo
93,550
26,500
179,254
58,7841
27,096,
5.649
Detroit
11,241
70,312;
234,151
Cleveland _
15,204'
706
8,000
55,900
291,200
377,994
43,260
606,624
St. Louis _.
14,300
69,600
175,750'
Peoria
23,2761
123,700
335,200
115,500
Kansas City.
358,600
709,800,
Tot.wk.'10
Same wk.'09
Same wk.'08
426,490
264,814
290,691
133,658
106,678
83,944
2,731,268 1,413,884
2,624,422 1,105,040
3,022,663 1.384,839
4,226,674' 4,342,649
2,309,5911 3,529,524
3,303,557 3,952,400
Since Aug. 1
1909-10_
10,593,598 161,563,135 75,597,7471 7,684,96544,704,164 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 88,433,4771 95,830,152 41,407,464 4,233,289
Total receipts of flour and grain at the seaboard ports for
the week ended Jan. 8 1910 follow:
Flour,
bbls.
Receipts al166,865
New York
37,857
Boston
17,000
Portland, Me
58,242
Philadelphia
34,985
Baltimore
7,419
Richmond
20,467
New Orleans ._ __ _
9,603
Newport News_ -- _
Norfolk
5,000
Galveston
Mobile
4,089
Montreal
16,019
St. John
51,000
Total week
Week 1909
Since Jan. 1 1910_
Since-Jan. 1 1909_ _
1Vheat,
bush.
291,600
116,419
457,000
65,979
37,997
33,104
2,400
13,000
Corn,
bush,
425,250
174,211
Oats,
bush.
343,125
83,413
Barley,
bush.
36,975
43,441
753,396
27,828
674,700
94,286
94,914
17,960
26,814
53,000
1,000
105,000
15,400
6,005
75
56,403
428,546 1,406,248 2,319,517
347,832 1,296,640 1,653.489
428,546 1,406,248 2,319,517
347,832 1,296,640 1,653,489
675,704
960,111
675,704
960,111
66,749
322,000
Rye,
bush.
19,550
15,963
28,643
42,000
35,513
5,001
35,513
5,001
108,618
173,077
108,618
173,077
* Receipts do not include grain passing through New Orleans for foreign ports
on through bills of lading.
The exports from the several seaboard ports for the week
ending Jan. 8 1910 are shown in the annexed statement:
ExportsfromNew York
Portland, Me_ _ __
Boston
Philadelphia _ _ _ Baltimore
New Orleans
Newport News__
Galveston
Mobile
Norfolk
St. John
Wheat,Flour,
.
bush.
bush.
bbls.
258,054 351,446 73,987
457,000
17,000
524,506 120,000 48,419
52,000 42,000
338,000
241.020 21,046
1,030,000
7,000
94,286
9,603
4,000
294,000
4,089
15,400
5,000
322,000
51,000
Total week_ _ _ _1,899,560 2,198.152 283,144
2,179,153 1,581,619 220,449
Week 1909
Rye,
bush.
Oats,
bush.
3,600
Peas, Barley,
bush.
bush.
2,343
29,712
460
1,160
800
3,400
75
42,000
8,235
28,063
17,000
71,712
42,495
3,603
12,549
The destination of these exports for the week and since
July 1 1909 is as below:
FlourWheatCorn
Since
Since
Since
•
July 1
Week
Week
July 1
Week
July 1
1909.
Exportsfor week and Jan. 8.
Jan. 8.
1909.
Jan. 8.
1909.
since July 110bush,
bbis.
bush.
bush.
bbls.
bush.
United Kingdom...174,647 3,093,296 1,493,204 36,019,998 764.026 4,214,074
Continent
61,511 1,216,918 403,356 19,452,113 1,385,152 5,649,171
So. & Cent. Amer_ 20,086 455,015
399,234
1,380
213,919
3,093
West Indies
26,601 754,163
45,816 1,106,309
3,675
Brit. No. Am. Cols_
125
76,652
32,991
Other Countries_ _ _
174 126,483
17,841
1,778
99,630
283,144 5,722,527 1,899,560 55,789,335 2,198,152 11,419,620
220,449 6,220,065 2,179,153 79,430,388 1,581,611) 13,246,754
Total
Total 1908-09
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:
Wheat.
Exports.
Week
Jan. 8.
Corn.
1908-09,
1909-10.
Since
July 1.
Since
July 1.
1909-10.
Week
Jan. 8.
Bushels. Bushels.
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
Danubian _ _ 616,000 12,368,000 25,808.000 544,000
Argentine __
8,090 14,832,000 30,515,000 587,000
Australian... 984,0 0 7,340,000 9,096,000
0th. countes 1,504.0 0 27,608,000 7,730,000
1908-09
Since
July 1.
Since
July 1.
Bushels.
Bushels.
11,557,000 12,870,400
13,088,000 8,393,500
12.191,000 14,265,500
57,199,000 42,185,500
Total __-- 10764,000 279,905,000 229,376,700 3,770,000 91,035,000 77,714,900
The quantity of wheat and corn afloat for Europe on dates
mentioned was as follows:
Wheat.
--------------
United
Kingdom. Continent.
Bushels.
Jan. 8 1010._ 20,000,000
Jan. 11910. 18,080,000
Jan. 9 1909._ 15,040,000
Jan. 111908.. 21,280,000
Corn.
Total.
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
United
Kingdom. Continent.
Bushels.
5,865,000
5,950,000
4,250,000
3,800,000
Total
Bushels. Bushels.
5,960,000 11,815,000
5,695,000 11,645,000
4,930,000 9,180,000
4,680,000 8,480,000
Railroads (Steam).
Atchison Topeka & Santa Fe,corn.(guar.) 134 Melt.
Preferred
24 Feb.
Baltimore & Ohio, common
Mch.
3
Preferred
2
Mch.
Canada Southern
Feb.
Central RR. of New Jersey (guar.)
2
Feb.
Chicago & Alton RR., common
2
Feb.
Cumulative prior lien and partic. stock_ _
2
Feb.
Chicago & Alton, preferred
2
Jan.
Prior lien and participating stock
2
Jan.
Cleve. Cin. Chic. & St. Louis, corn
2
Bich.
Preferred (quarterly)
14 Jan
Cuba RR.. preferred
14 Feb.
Delaware & Hudson Co. (guar.)
234 Mch.
Delaware Lackawanna & West. (quar.)_
234 Jan.
Denver & Rio Grande, preferred
24 Jan.
East Pennsylvania
3
Jan.
Georgia RR. & Banking (guar.)
2% Jan.
Granite Ry
1
Tan.
Great Northern (guar.)
'
4
$ Feb.
Hocking Valley, common and preferred_ _
2
Jan,
Kansas City Southern. pref. (guar.)
1
Jan.
Lake Shore & Michigan Southern
6
Jan.
Guaranteed stock(Mich.Sou.drNor.Ind.)
Feb.
Little Schuylkill Nay.. RR.& Coal
2% Jan,
Louisville & Nashville
334 Feb.
Michigan Central
Jan.
Mine 11111 & Schuylkill Haven
234 Jan.
Minneapolis & St. Louis, preferred
254 Jan.
Nashville Chattanooga & St. Louis
3
Feb.
N. Y. Central & Hud. River (quar.)
1% Jan.
Norfolk & Western, preferred
2
Feb.
Northern Central (No. 90)
4
Jan.
Northern Pacific (guar.)
1% Feb.
Pittsb. Cinc. Chic. & St. Louis, common_
2% Feb.
Preferred
2% Jan,
Pittsburgh dc Lake Erie
Feb.
5
Extra
40
Feb.
Reading Company. common
3
Feb.
St. Louis Southwestern, preferred
2% Jan.
Texas Central, preferred
2% Jan.
%Vhite Pass & Yukon
lb Jan'.
1 Holders of rec Feb. 7a
1 Holders of rec. Dec.30a
1 Holders of rec. Feb. 1
1 Holders of rec. Feb. 1
1 Holders of rec. Dec. 31
1 Holders of rec. Jan.21a
15 Holders of rec. Jan.31a
15 Holders of rec.'Jan.31a
15 Holders Of rec. Dec.30a
15 Holders of rec. Dec.30a
1 Holders of rec. Feb. 7a
20 Holders of rec. Dec. 29
I Holders of rec. Dec. 31
21 Holders of rec. Feb. 28
20 Holders of rec. Jan. 4
15 Dec. 25 to Jan. 4
18 Holders of rec. Jan. 8
15 Jan. 1 to Jan. 14
15 Holders of rec. Jan. 8
1 Holders of rec. Jan 100
17 Holders of rec. Dec. 28
15 Holders of rec. Dec. 31
28 Holders of rec. Dec. 31
1 Holders of rec. Dee. 31
15 Dec. 21 to Jan. 14
10 Jan. 21 to Feb 10
28 Holders of rec. Dec. 31
15 Dec. 21 to Jan. 14
15 Holders of rec. Dec. 31
1 Jan. 22 to Feb. /
15 Dec. 11 to Dec. 26
18 Holders of rec. Jan. 31
15 Holders of rec. Dec. 31
1 Holders of rec. Jan.120
15 Holders of rec Feb. 5
15 Holders of rec. Jan. 5
I Holders of rec. Jan. 26
1 Holders of rec. Jan. 26
1 Holders of rec. Jan.15a
15 Holders of rec. Dec.31a
14 Jan. 6 to Jan. 16
15 Jan. 1 to Jan. 16
Street & Electric Railways.
Boston Elevated Ry
Boston & Northern Street Ry., preferred_
Boston Suburban Electric Companies...
Cinc. Newport & Coy. LATr.,corn.(qu.)
Preferred (guar.)
Columbus (0.) Ry., pref.(guar.)(No. 41)_
Consolidated Traction of N. J
East St. Louis dr Sub., pref. (qu.)(No.15)
Grand Rapids By., pf. (qu.)(No. 37)- - - Havana Electric By., corn. (guar.)(No. 5)
Preferred (guar.)(No. 16)
Jacksonville Electric Co., corn.(No. 11)..
Preferred (No. 15)
Manchester Tray., Lt. & Power (quar.)..
Metropolitan West Side Elev.. Chic., pref.
Milwaukee Elec. Ry. & Light, pref. (qu.)
Montreal Street By.(guar.)
Northwestern Elevated, preferred (guar.)
Old Colony Street Ry., preferred
Ottumwa (Ia.) Ry. & Lt., pref. (quar.)
Pacific Coast Power (No. 4)
Philadelphia Company, corn. (guar.)._
Public Service Investment, corn.(No. 1).
Preferred(No. 3)
Railways Company General (guar.)
Railway & Light Securities, corn.(No. 1)..
Rio de Janeiro Tram., L. & Power, Ltd__
Seattle Electric Co., common (No. 5)...
Twin City Rap.Trnn., Mlnneap.,com.(gu)
United Traction, Pittsburgh, preferred.. _ _
Wheeling(W. Va.) Traction
15 Feb. 6 to Feb. 15
1 Holders of rec. Jan. 15
15 Holders of rec. Jan. 3
15 Jan. 1 to Jan. 15
15 Jan. 1 to Jan. 15
1 Holders of rec. Jan. 15
15 Jan. 1 to Jan 14
1 Holders of rec. Jan. 15
1 Holders of rec. Jan. 15
14 Jan. 24 to Feb. 14
14 Jan. 24 to Feb. 14
1 Holders of rec. Jan. 15
1 Holders of rec. Jan. 15
15 Holders of rec. Jan. 1
1
31 Holders of rec. Jan.20ct
1 Holders of rec. Jan. 13
18 Jan. 9 to Jan. 18
1 Holders of rec. Jan. 15
15 Jan
1 to Jan. 10
17 Holders of rec. Jan.
I Holders of rec. Dec. 17 ,
1 Holders of rec. Jan. 15
1 Holders of rec. Jan. 15.
1 Jan. 22 to Jan. 31
1 Holders of rec. Jan. 15
1 Jan. 17 to Jan. 31
15 Holders of rec. Jan.
15 Holders of rec. Jan. 21
20 Holders of rec. Jan. 10a
15 Holders of rec. Jan. 1
3
3
$1
1
2
14
13.
134
3
3
2
34
14
234
3
134
2%
1%
134
1%
1
2
1
134
254
Feb.
Feb
Tan.
Jan.
Jan.
Feb.
Jan.
Feb.
Feb.
Feb.
Feb.
Feb.
Feb.
Jan.
Itch.
Jan
Feb.
Jan.
Feb.
Jan.
Jan.
Feb.
Feb.
Feb.
Feb.
Feb.
Feb.
Jan.
Feb.
Jan.
Jan.
Banks.
Copper, National (guar.)(No.4)
Mechanics' National (special)
People's National, Brooklyn (No. 1)
2
21
2
Jan. 29 Jan. 1
Jan. 29 Dec 25
Itch. 1
Fire Insurance.
Home (No. 109)
15
On dem. Holders of rec. Jan.
Miscellaneous.
American Cement(No. 21)
Jan.
1
American Chicle. corn. (monthly)
Jan.
J
Common (extra)
American District Teleg. of N. J.(quar.).. 1
Jan.
American Light & Traction, corn. (guar.) 2 Hg Feb.
Common (special)
• Preferred (quar.)_
15i Feb.
American Locomotive, pref.(quar)
1% Jan.
American Seating, pref. (guar.)
1
Jan.
American Seeding Machine. pref. (quar.) 1% Jan.
American Shipbuilding, pref. (quar.)
1% Jan.
Am.Smelt. dr Refg.. corn.(quar.)(No.25) 1
Jan,
American Telephone & Telegraph (guar.) 21
.
Jan.
American Type Founders, corn. (quar.)..
1% Jan.
Preferred (quar.).
American Woolen, pref. (guar.) (No. 43) 1% Jan.
Anaconda Copper M'n'g (guar.)(No. 37)_ 50c. Jan.
Associated Merchants, 1st pref. (guar.). _
134 Jan.
% Jan.
First preferred (extra)
Second preferred (quar.)
154 Jan.
X Jan.
Second preferred (extra)
Jan.
Bell Telephone of Canada (quar.)
2
Bell Telephone of Pennsylvania (quar.)..
Butte Elec. & Power, pref.(guar.)(No. 34) 1;1 j
Faenb..
1% Jan.
Central Coal & Coke, corn. (guar.)
1% Jan.
Preferred (guar.)
I% Jan.
Central Dist. & Printing Teleg. (quar.)
2
Jan.
claflin (H. B.), common (guar.)
1% Feb.
Claflin (H. B.).first preferred (guar.)_ _ _
1% Feb.
Second preferred (guar.)
Consolidated Ice, Pittsburgh, pref. (guar. 1% Jan.
1.50
. Ja
Jan.
$50c
Corp. of United Cigar Stores (guar.)
Extra
Delaware Lack. & Western Coal (No. 1). 2% Jan.
I
Jan.
Detroit Edison (guar.)
DIstIllers' Securities Corp.(guar.)(No. 29)
Distilling Company of America (quar.)
3% Feb.
Donzinion Coal, Ltd., preferred
7
1
j
J
Fan
aan
en
b.
:
.
duPont(E I.)deNemoursPowd.,pref.(gu.) ;
Eastman Kodak,common (extra)
2%• April
Eastman Kodak, common (guar.)
1% April
Preferred (guar.)
Edison Else. Ill., Boston (qu.)(No.83).. 2% Feb.
ElectricBond & Share, coin.(guar.)(No.3) 2
Jan.
1% Feb.
Preferred (guar.)(No. 19)
to
to
Jan. 17
1
22 Jan. 9 to Jan. 23
20
20
22 Jan. 13 to Jan. 21
1 Jan. 20 to Jan. 3/
15 Jan. 20 to Jan: 31
1 Jan. 20 to Jan. 31
21 Jan 5 to Jan. 23
15 Jan. 1 to Jan. 15
15 Holders of rec Dec.31a
15 Tan. 4 to Jan. 16
15 Dec 25 to Jan. 2
15 Holders of rec. Dec. 31
15 Holders of rec. Jan. 10
15 Holders of rec. Jan. 10
15 Dec. 25 to Jan. 5
19 Holders of rec. Jan. 8
15 Holders of rec. Jan. 8
15 Holders of rec. Jan. 8
15 Holders of rec. Jan. 8
15 Holders of rec. Jan. 8
15 Holders of rec. Dec. 27
15 Jan. 6 to Jan. 16
1 Holders of rec. Jan. 15a
15 Jan. 1 to Jan. 15
15 Jan. 1 to Jan. 15
15 Jan. 1 to Jan. 16
15 Holders of rec. Jan. 13
1 Holders of rec. Jan. 21
1 Holders of ree. Jan. 21
20
15 Jan. 4 to Jan. 15
15 Jan. 4 to Jan. 15
15 Holders of rec. Dec.31a
15 Holders of rec. Jan. 3a
31 Holders of rec. Jan. 10a
29 Holders of rec. Jan. 8a
1 Jan. 22 to Jan. 31
25 Holders of rec. Jan. 15
1 Holders of rec. Jan. 15
I Holders of rec. Feb. 28
1 Holders of rec. Feb. 28
I Holders of rec. Jan. 15
15 Holders of rec. Jan. 14a
1 Jan. 16 to Feb. 1
150
[VoL. Lxxxx.
THE CHRONICLE
Per
Cent.
Name of Company.
Books Closed.
Days Inclusive.
When
Payable.
Miscellaneous—Continued,.
11.^,
1 lectric Company o America
3% Feb.
1 ederal Sugar Refining, pref. (guar.)
1% Jan.
General Electric (quar.)
• 2
Jan.
Guanajuato Pow, & EL, pf.(qu.)(No.6).._
1% Feb.
HerbSon-Walker Refract., pref. (quar-)_
1% Jan.
Illinois Brick
1% Jan.
Internat. 13uttonh. Mach.(quar.)(N0.49) 1
Jan.
Mch.
International Nickel, common (quar.)_
1
Common (extra)
% Mch.
Preferred (quar)
1% Feb
Internat. Steam Pump,pf.(qu.)(No 43)_
1% Feb.
a Rose Consolidated Mines (quar.)
2
Jan.
ehigh Coal & Navigation (special)
15 scr. Mch
1% Jan.
assachusetts Lighting Cos.(guar.)
1% Jan.
Extra
Mexican Light & Power, Ltd., ordinary.._ _
Tan.
1
2% Tan.
Mexican Telegraph (guar.)
Michigan State Teleph., pref. (ctuar.)- - 1% Feb.
Ilinneap. Gen.
corn. (qtr.)(No. 10) 1% Feb.
3
Elec..
Preferred (No.
22)
Feb.
National Biscuit, corn.(quar.)(No. 45).. 1% Tan.
National Carbon, corn. (guar.)
I% Jan,
National Fireproofing, preferred
1
Jan.
1% Jan.
New England Teiep. & Teleg.(quar.)___ _
Nipissing Mines (quar.)
5
Jan.
Extra
2% Tan
1
Nova Scotia Steel de Coal, Ltd., com___ _
Jan.
2
Jan
Preferred (quar.)
Oklahoma Gas & Electric, nref.(quar.)_ _
1% Jan.
Omaha Electric Light & Power, preferred_
2% Feb.
6
Jan.
Osceola Consolidated Mining
1% Jan.
Otis Elevator, pref. (quar.)
1
Pacific Coast Co., common (guar.)
Feb.
First preferred (guar.)
1% Feb.
Second preferred (guar.)
1% Feb.
1% Feb.
People's Gas Light & Coke (guar.)
Pittsburgh Coal, preferred
1% Jan.
1% Tan.
Pope Manufacturing, preferred (quar.)
2
Procter & Gamble, preferred (quar.)___ _
Jan.
I% Tan.
Quaker Oats, common (guar.)
% Tan.
Common (extra)
Realty Associates(No. 14)
3
Jan.
Extra
I
Jan.
Reece Buttonhole Mach. (quar.)(No. 95) 2
Jan.
Rhode Isl. Perkins Horseshoe,pref.(quar.) 1
Jan.
San Diego Cons. Gas & El., pref. (guar.) 1% Jan.
Sears, Roebuck & Co., corn. (guar.)
I% Feb.
Securities Company
2% Jan,
Shawinigan Water & Power (quar.)
I
Tan.
Siegel Stores Corporation, pref. (guar.).- - 1% Feb.
Street's West. Stable-Car Line, coin. (qtr.) 1
Jan.
Union Bag & Paper, pref.(quar.)(No.43). 1
Jan.
United Cigar Mfrs., common (guar.)
134 Feb.
United Dry Goods Cos., corn. (quar.)..... 2
Feb.
2
Jan.
United Fruit (quar.)(No. 42)
2% Jan.
United Gas & Electric of New Jersey, pref
2
Jan.
United Gas Improvement (quar.)
I% Feb.
United States Realty & Improvement
2
Jan.
United States Rubber, 1st pref.(quar.)_
1% Tan.
Second preferred (quar.)
Jan.
U. S. Smelt., Ref. & Min., corn. (guar.). 1
1% Jan.
Preferred (quar.)
2
fan.
Va -Caro Chem., pref. (010'(No. 57)
1% Jan.
Vtdcan Detinning. pref. (quar.)
34e Jan.
Preferred (extra)
5
Jan.
Wells. Fargo dc Company
;300 Feb.
Extra
Western Telephone & Telegraph, preferred 2% Feb.
% Jan.
Western Union Telegraph (qu.)(No. 163)
Westinghouse Elec. & Mtg. Co., pref.(qu) 1% Jan.
White(J.G.)& Co.. Inc., pf.(qu.)(No. 27) 1% Feb.
3 Jan. 21 to Feb. 3
31 Holders of rec. Jan. 28a
15 Holders of rec. Dec. 4a
1 Jan. 21 to Feb. 1
29 Holders of rec. Jan. 10
15 Jan. r1 to Jan. 16
15 Holders r f rec. Jan. 5
1 Feb 10 to Mch. 1
1 Feb 10 to Mch. 1
1 Tan 13 • to Feb. 1
1 Jan. 21 to Feb. 1
20 Jan. 1 to Jan. 16
1 Holders of rec. Jan. 31
15 Holders of rec. Jan. la
15 Holders of rec. Jan. la
15 Tan. 10 to Jan. 15
15 Holders of rec. Dec 31
1 Tan. 19 to Feb. 1
1 holders of.ree. Jan. 8
1 Holders of rec. Jan. 8
15 Holders of rec. Dec.28a
15 Jan. 6 to
20 Holders of rec. Jan. 5a
15 Holders of rec. Dec. 31
20 Jan. 1 to Jan. 16
20 Tan. 1 to Jan. 16
15 Jan. 1 to Jan. 5
15 Jan. 1 to Jan. 5
15 Jan. 1 to Jan. 10
1 Holders of rec. Jan. 20
26
15 Holders of rec Dec. 31
1 Jan. 22 to Feb. 1
1 Jan. 22 to Feb. 1
1 fan. 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 9a
15 Holders of rec. Jan. 5
15 Holders of rec. Jan. 5
15 Holders of rec. Jan. 5
15 Holders of rec. Jan. 3
15 Jan. 1 to Jan 10
15 Holders of rec. Feb. 1
15 Jan. 1 to Jan. 15
20 Holden, 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 Feb. 3
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 Tan. 21 to Jan. 31
15 Holders of rec. Dec.20a
15 Jan. 6 to Jan. 16
1 Holders of rec. Jan. 22
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 averages of the
daily results. In the case of the totals, the actual figures
at the end of the week are also given.
We omit two ciphers (00)In all cases.
Banks.
00s omitted.
Capital
Bank of N. Y
2,000,0
Manhattan Co_
2,050,0
Merchants' _ _
2,000,0
Mechanics' _ _ _ _ 3,000,0
Americ
1,500,0
.
Phenix
...... 1,000,0
City
25.000,0
Chemical __ _
3,000,0
Merchants' Ex_
600,0
Gallatin
1,000.0
Butch. de Drov.
300,0
Greenwich _ _
500,0
Amer. Exch..
5.000,0
Commerce
25,000,0
Mercantile _ _ _
3,000,0
500,0
Pacific _
Chatham .._ _ _ _
450,0
200,0
People's
3,000,0
Hanover
2,550,0
Citizens' Cent._
Nassau
500,0
Market & Fult n . 1,000,0
Metropolitan _ 2,000,0
Corn Exchange. 3,000,0
Imp. dr Traders' 1,500,0
Park
3,000,0
East River_ _
250,0
Fourth
3,000,0
Second
1,000,0
First
10,000,0
Irving Nat. Ex_
2,000,0
Bowery
250,0
N. Y. County_ _
500,0
German-Amer
750,0
Chase
5,000,0
Fifth Avenue_ _
100,0
200,0
German Exch..
200,0
Germania
Lincoln
1,000,0
Garfield
1,000,0
Fifth
250,0
Metropolis _ _ _
1,000,0
West Side
200,0
Seaboard
1,000,0
Liberty
1,000,0
N.Y.Prod. Ex. 1,000,0
State
1,000,0
14th Street...1,000,0
Copper
2,000,0
Coal & Iron_
1,000,0
Surplus.
Loans.
Average.
Specie. Legato. Deposits. ReAverage. Average. Average. s've.
$
$
$
•
3,465,5 19,348,0 3,473,0 1,030,0 17,210,0 26.1
4,126,6 29,400,0 6,797,0 1,773,0 33,350,0 25.7
1,693,7 17.808,0 2,966,0 1,457,0 17,576,0 25.1
3,851,2 26,155,0 3,544,0 2,536,0 25.733,0 23.6
5,894,9 23,425,6 4,364,9 1,821,8 23,469,9 26.3
7,419,0 30.0
319,0
685,5
7,774,0 1,915,0
28,853,0 170,734,5 34.686,3 5,015,0 157,659,5 25.2
6,183,0 28,772,0 5,000,4 2,095,9 27,231,0 26.2
168,7
6,483,0 24.0
568,2
6,538.3 1,391,7
2,443,1
8,412,0 1,326,3
482,5
6,721,8 26.9
153,4
2,317,2
2,399,1 22.8
455,3
90,3
777,4
7,285,9 1,822,3
8,076.9 25.0
200,0
5,095,1 30,072,2 4,688,1 1,591,6 23,844,3 26.5
15,694.3 135,874,2 20,949,9 9,582,9 112,660,6 27.2
2,570,8 14,028,1 1,953,2
861,8 10,652,6 26.4
3,878,2
897.6
570,4
440,2
3,635,5 27.8
1,026,2
6,892,3
767,3
998,9
7,179,7 24.6
1,915,9
477,5
483,2
131,5
2,445,2 25.1
11,101,1 61,403,1 10,253,1 7,356,0 69,002,5 25.6
1,486,6 22,088,6 6,330,4
326,8 21,766,1 26.1
464,8
6,388,8
620,4 1,116,5
7,027,7 24.1
7,708,4 1,181,0
7.555,3 26.7
1,668,0
837,0
1,392,9 13,201,6 3,250,6
239,7 13,715,2 25.4
5,254,1 41,839,0 7,629,0 4,927,0 49,612,0 25.3
7,504,0 25,778,0 4,010,0 1,999,0 23,584,0 25.4
9,912,5 78,967,0 20,057,0 1,475,0 87,191.0 24.6
105,2
1,593,5
91,4
1,885,5 26.7
412,9
3,543,1 19,667,0 3,857,0 1,916,0 21,371,0 27.0
1,899,3 12,626,0 2,494,0
674,0 12,296,0 25.0
19,808,6 98,007,9 19,950,5 2,650,5 86,211,4 26.2
1,516,3 21,512,6 4,589.1 1,247,4 22,880,9 25.5
3,786,0
3,865,0 22.0
802,0
803,0
50,0
7,900,0 1,330,7
1,642,4
665,3
8,044,8 25.2
667,5
4,334,0
907,0
4,333,6 25.7
209,4
7,040,4 72,036,1 13,259,2 2,702,5 73,829,5 21.6
2,069,9 13,611,2 2,682,0 1,230,2 15,110,8 25.8
894,0
3,600,0
620,0
500,0
4,300,0 26.0
4,768,4
901,7
528,9
1,006,5
5,533,8 25.8
1,408,9 16,499,2 3,800,9
784,3 18,004,5 25.4
268,2
1,147,1
7,951,7 1,850.6
8,104,5 26.1
285,2
3,550,2 24.8
3,440,2
599,7
483,5
2,020,2 11.630,4 1,037,0 1,815,8 11,640,9 24.5
4,729,0 25.2
940,0
251,0
4,401,0
1,139,0
1,821,6 18,394,0 4,153,0 1,502,0 21,258.0 26.6
879,5 15,203,0 26.2
2,704,4 15,835,1 3,105,7
220,2
9,311,0 25.3
705,4
7,835,7 2,138,0
282,0 17,318.0 24.4
863,0 14,175,0 3,953,0
6,147,3 25.3'
5,499,4
945,0
615,9
334,5
355,8 25,223,5 24.3
2,834.3 25,092,4 5,778,4
5,714.0 25.2
634,0
326,3
5,795,0
807,0
Totals, Average 127.350.0 180,024,4 1197,996,6 230,401,0 69,132,6 1179,073,1 25.4
Actual figures
January 8
1182.477.2 236,894,3 69,900,6 1168,982,7 26.2
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.
The State Banking Department also now furnishes weekly
returns of the State banks and trust companies under its
charge. These returns cover all the institutions of this class
Auction Sales.—Among other securities the following, not
regularly dealt in at the Board, were recently sold at auction. in the whole State, but the figures are compiled so as to
distinguish between the results for New York City (Greater
By Messrs. Adrian H. Muller dc Son:
Stocks.
Stocks.
New York) and those for the rest of the State, as per the
38 Standard Gas Lt. Co., coin_ 56
5 Citizens Central Nat. Bank_162%
90 Amer. Ex. Nat. Bank_ _255-25534 following:
320 Havana Tobacco Co. corn....5%-5
a Transfer books not closed. b Less Income tax. d Correction. e On account
of accumulated dividend. g Payable in common stock.
50 American Automobile Co.,
$10 lot
$50 each
75 Carbon Steel Co. corn__ _ _$250 lot
100 Irving Nat. Exch. Bank_ _ _208
36334
50 Washington Trust Co
47034
50 National Park Bank
33 Market & Fulton Nat. Bank.26034
282
20 Mutual Bank
100 Federal Ins. Co. of N. J
150
1 Aeolian Weber Plano & Pianola Co. pref
90
1 Aeolian Weber Piano dc Planets Co. corn
41
20 Saramacca Co
$50 lot
410
10 New Jersey Zinc Co
200 Phenix Ins. Co. of Bklyn__ _270
10,000 Cerro Colorado Mining Co.,
$5 lot_
$1 each
325 Brooklyn City RR. Co
19834
25 Fifth Avenue Trust Co...425-435
j I 11 Importers' de Traders' Nat.
56534-56934
Bank
27 Bank of N. Y., N.B.A_329%-330
20 Bank of Manhattan Co_ _ _351
25 Lawyers Title Ins. & Tr. Co.310
2 United States Trust Co_ _ _1260
50 Columbia Trust Co
326
9 Mechanics' National Bank_ _270
Bonds.
$6,000 Standard Cordage Co. lot 5s,
1931
22%
$5,400 Standard Cordage Co. adjust.
55, 1931
334
$2,500 N. Y. Athletic Club 2d 5s,
1910. A. &0
94 & 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. 1st •$18.68, Trust Co. cert. of
_ 500
150 Fidelity Comm. & Trading
deposit_Co. lot.
voting trust cert., $100 each....
CLEARING-HOUSE RETURNS.
Canadian Bank Clearings.—The clearings for the week ending January 8 at Canadian cities, in comparison with the same
week of 1909,show an increase in the aggregate of 30.6%.
Montreal
Toronto
Winnipeg
Vancouver
Ottawa
Quebec
Halifax
Hamilton
St. John
London
Calgary
Victoria
Edmonton
Regina
E101
Total -Canada_
1909.
Inc. or
Dec.
40,401,983
29,388,746 +37.5
39,20.1,995
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
41,097,675 +10.1
932,834 Not included in total
124,617,587
95,445,665 +30.6
1908.
28,814,888
24,266,208
14,096,302
3,676,844
3,187,755
2,301,752
1,898,931
1,544,028
1,501,614
1,421,588
1,256,658
895,973
1,312.181
88,174,722
Week ended Jan. 8.
Stale Banks
Trust Cos
Trust Cos.
State Banks
In
outside of
outside of
in
Greater N. Y. Greater N. Y. Greater N. Y. Greater N. 1'.
Capital as of Nov. 16_ _ _
$
26,075,000
63,425,000
*8,708,000
.7,725.000
Surplus as of Nov. 16_ _ _
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
—261,700
133,165,300
—456,300
Loans and investments_ _
Change from last week..
Specie
Change from last week..
47,025,100
+275,900
117,537,700
+1,453,700
Legal-tenders & bk. notes
Change from last week_
25,107,800
+541,200
13,960,600
+538,400
Deposits
Change from last week_
338,730,800 1,133,537,500
+3,403,900 —2,721,200
94,025,700
+1,756,400
142,044,100
+1,383,200
Reserve on deposits
Change from last week.
90,579,000
—2,475,200
137,072,700
+2,233,400
19,491,500
+1,287,800
19,329,900
+1.292,000
P. C. reserve to deposits.
Percentage last week
27.3%
28.2%
15.6%
15.4%
21.4%
20.3%
14.2%
13.4%
+ Increase over last week. —Decrease from last week. *As of September 14.
Week ending January 8.
Clearings at
1910.
STATE BANKS AND TRUST COMPANIES.
1907.
Note.—"Surplus" includes all undivided profits. "Reserve on deposits" In'
eludes, 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 moneys held in trust and not payable within
thirty days, anti also exclusive of time deposits not payable within 30 days, represented by certificates, and also exclusive of deposits secured by bonds of the State.
of New York, The State banks are likewise 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 State of NeW York.
32,379,028
29,570,344
12,295,123
3.757,418
3,240,236
2,027,529
2,385,470
—Trust Cos.—
—Slate Banks—
1,669,369
Of
Total
Total
1,555,268 Reserve Required for Trust Companies
Of
1,442,922
Reserve which
Reserve which
and State Banks.
1,278,369 • Location—
Required. in Cash.Required. in Cash
1,013,092
15%
15%
25%
15%
813,422 Manhattan Borough
10%
20%
10%
Brooklyn Borough(without branches in Manhat.)_15%
10%
15%
%
Other 13oroughs(without branches in Manhattan) 15%
94,427,590 Any Borough with branches in Manhattan
15%
15%
25%
15%
10%
5%
15%
6%
Elsewhere in State
151
THE CHRONICLE
JAN. 15 1910b
The Banking Department also 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 the table below, as are
also the results (both actual and average) for the ClearingHouse banks. In addition, we have combined each corresponding item in the two statements, thus affording an aggregate for the whole of the banks and trust companies in the
Greater New York.
We omit two ciphers (00) fis ale these figures.
Capita/
and
Surplus.
Banks.
Boston.
Dec. 18_ _
Dec. 24...
Dec. 31...
Jan. 8_ _
Phila.
Dec. 18_.
Dec. 24.._
Dec. 31_ _
Jan. 8._
Loans.
S
Specie.
$
Legal,. Desysics. a Circalotion.
$
$
40,300,0
40.300,0
40.300,0
40,300,0
189,345,0
189,256,0
188,936,0
190,296,0
56,315,0
56,315,0
56.315,0
56,315,0
258,565,0
258,694,0
259.618,0
259,350,0
21,881,0
21.554,0
21,698,0
23,299,0
68,364,0
66,068,8
66,748,0
69,401,0
s
$
4,895.0
4,387,0
4,631,0
4.726.0
Clearings.
$
7.119,0
7.083.0
7.089,0
7.134,0
178,824,7
149.704,5
186,145,6
221,566,9
308,333.0 16,796,0
304,814.0 16,802,0
303.852,0 16,819.0
309,307,0 16,815,0
184,068.6
134,406,2
146.632,1
202.189,6
235,343.
235.360,0
239.14:1.0
241,979,0
NEW YORK CITY BANKS AND TRUST COMPANIES.
Clear.-House Clear.-Ilouse State Banks & Total of all
Trust Cos. not Banks& Trust
Banks.
Banks.
ActualFigures
Average. in C.-H. Aver. Cos. Average
Week ended Jan. .
Capital as of Nov. 18.._
127,350,000
127.350,000
73,550,000
200,900,000
Surplus as of Nov. 16.. _
180,024,40
180,024,400
176,431,300
356,455,700
a Including Government deposits and the item "due to other banks." At
Boston Government deposits amounted to $3,023,000 oa January 8 1910, against
$3,006,000 on December 31 1909.
Imports and Exports for the Week.-The following are
the imports at New York for the week ending Jan. 8; also
totals since the beginning of the first week in January:
FOREIGN IMPORTS AT NEW YORK.
Loans and investments 1,182,477,200 1,197,996,600 1,187,302,200 2,385,298.100
Change from last week -14,120,800
+3,385,900 -19,844,600 -16,258,700
Deposits .
1,168,982,700 1,179,073,100 a1,147,516,800 2,326,589,900
+165,600
-7,175,100
Change from last week -2,479,700
+7,340,700
Specie
Change from last week
236,894,300
+8,797,000
230,401,000
-989,400
b124,160,900
+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
Aggeto money holdings 306,794,900
Change from last week +10,440,200
299,533,600
+412,300
146,843,300
+1,994,300
446,376,900
+2,406,600
21,746,200
-3,146,000
21,746,200
-3,146,000
299,533,600
+412,300
168,589,50G
-1,151,700
468,123,100
-739,400
25.43%
25.55%
16.9%
17.2%
For 1Veek.
306,794,900
Total reserve
Change from last week +10,440,200
1909.
$3.296,924
15,220,285
Total
Since January 1.
Dry Goods..
Deneral Merchandise
Total 1 week
Money on deposit with
other bits. & trust cos.
Change from last week
1910.
Dry Goods
General Merchandise
$3,977,289
11,367.135
Surplus reserve
26.27%
25.33%
$3,296,924
15,210,285
53,977,289
11,367,135
EXPORTS FROM NEW YORK FOR THE WEEK.
COMBINED RESULTS OF BANKS AND TRUST COMPANIES IN
GREATER NEW YORK.
We omit two ciphers (00) in all these figures.
Week
Ended.
Loans and
Investments.
Deposits.
Nov. 13Nov. 20...
Nov. 27__
Dec. 4._
Dec. 11__
Dec. 18-Dec. 24._
Dec. 31Ian. 8_
$
2,428,526,4
2,408,090,7
2,389,978,6
2,381.234,4
2.371.455,0
2,381,734,9
2,400,207,6
2,401,557,5
2.385,298,8
$
2,368,257,5
2.338,048,3
2.310,511,4
2,296,068.3
2,287,814,6
2,306,845,1
2.327,891,3
2.326,424.3
2,326,589,9
Specie.
3
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
Tot. Money Entire Res,
Holdings. on Deposits
Legals
3
91,08(1,3
89,784,9
89,617,2
91.137,3
91,157,5
93,113,6
91,086,3
89,809,7
91,815,0
$
454,427,0
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
461,271,6
467,258,3
468,252,6
468,862 5
468,123,1
Banks.
Capt.
gal.
Surplus.
Loans.
Disc'ts
and
Invest-
Specie.
?WM.
I. Y. City.
torouglis of
$
$
Ian.& Brx.
247,4
Vash. ilgts 100,0
151,8
200,0
:entury ___
311.0
:olonial- 400.0
458,9
:olumbla .... 300,0
159,3
200,0
Idellty _
586,9
500,0
efterson_
287,6
It. Morris.. 250,0
328,5
lanai -- 200,0
412.4
100,0
'laza
103,9
200,0
3d Ward.._
959,3
in.Ex.Nat. 1,000,0
'orkville __
100,0
446,0
raw Neth'd 200,0
243,5
tatt.Pk.Nat 200,0
150,3
,etna Nat_
300,0
315.9
'orough of
Brooklyn.
'roadway _
200,0
541,1
Hrs.' Nat_
252,0
798,7
934,7
lechanics._ 1,000,0
986,4
rassau Nat. 750,0
607,5
rat. City- 300,0
144,0
200,0
rorth Side_
ersey City.
'Irst Nat_.. 400,0 1,237,1
Iud.Co.Na
250,0
745,6
'bird Nat- 200,0
384,8
Hoboken.
'Irst Nat__
220,0
623 7
econd Nat. 125,0
249,6
Legal
Tender
and
Bank
Notes.
8
$
$
1,137,0 145,0
40,0
1,472,6
27,4 170.8
5,315,1 726,1 490,4
6,386,0 684,0 623,0
89,7
69,1
1,048,1
3,598,3
18,4 548,5
2,595,0 459,3
56,1
35,8 595,1
3,768,4
4,116,0 329,0 446,0
60,2
1,795,5 204,3
8,570,1 1,187,6 1,000,0
50,5 778,4
4,023,7
72,0
2,236,0 209,0
32,2
1,179,1
196,1
25,6
2,037,5 409.2
3,381,3
5,910.0
10,536,7
6,555,0
3,884,0
1,869,3
Deposit withClearing
Agent.
Other
Net
Banks. Deposits.
&c.
$
134,0
62,2
741,9
601,0
121,8
257,5
314,9
354,0
701,0
257,3
94,9
204,6
306,0
49,3
121,1
5
$
1,120,0
163,8 1,626,0
232,6 6,901,1
7.749,0
1,030,1
312,0 3,781,3
127,5 3,345,6
5,2 4,302,0
5,057,0
2,123,4
8,666,1
253,5 5,148,8
10,0 2,356,0
1,107,7
33,2 1,890,1
29,7 379,0
242,4
842,5
545.3 223,9
320,6 1,121,0 1,271,7
538,0 302,0 1,152,0
124,0 521,0
787,0
140,5
95,6
199,8
79,6 3,814,3
141,9 6,611,1
249,8 13,418,5
6,683,0
245,0 5,290,0
108,5 2,171,9
4,526,3
2,773,4
2,144,5
335,5
136,5
77,5
2,581,1
2,589,5
119,8
78,2
466,7 2,890,9 1,120,0 7,424,7
54,8
265,0 201,7 2,650,6
118,2
639,7
16,0 2,596,9
17,2
88.0
149,1
84,3
111,7 2,210,0
236,8 3,036,6
1907.
1908.
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. 11910, and for the corresponding periods in
1909 and 1908:
EXPORTS AND IMPORTS OF SPECIE AT NEW YORK.
Imports.
lirperte.
Gold.
Week.
Great Britain
France
Germany
West Indies
Mexico
South America
All other countries
Total 1910
Total 1909
Total 1908
Silver.
Great Britain
France
Germany
West Indies
Mexico
South America
All other countries
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 ciphers (00) in all these
figures.
1909.
$10,078,871 510,950,993 $15.434,749 $12,981,302
$10,078,871 $10,950,993 515,434.749 $12,981,302
Total 1 week
The averages of the New York Clearing-House banks
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:
53.572,499
13,577,891
518,517,209 $15.344,424 $11,174,048 $17,150,390
For the week
Previously reported
+ Increase over last week. -Decrease from last week.
r a These are the deposits after eliminating the item "Due from reserve depositories
and other banks and trust companies in New York City"; with this item included,
deposits amounted to $1,248,021,800 on Jan. 8, a decrease of '34,719,400 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.
53.928,786
7,247,262
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:
4,765,325
14,549,225
$3,572,499
13,577,891
$18,817,209 $15,344,424 511.174,048 $17,150,390
1910.
Percentage to deposits
requiring reserve - _ _ _
Percentage last week_
1907,
1908.
$3,926,786
7,247,262
Total 1910
Total 1909_
Total 1908
Since Jetn.1
Week.
Since Jan.1
$384
2384
$64,000
$25,000
2.354
2,354
1.000.000
1.000.000
48,556
11,942
48,556
11,942
$1,054,000 $1,025.000
$83,236
178,615
5.500
19,925 3,633,385
5,925
$63,236
178,615
3,633,385
5l,.343,04c
26
51,369.24.
908,4(1
687,67
$66
$876,568
26.200
5982,768
882,275
884,643
$66
257
257
12,733
832
12,733
832
$13.888
89,457
151.680
$13,888
89,457
151,680
Of the above imports for the week in 1910, 350
were American gold coin and _ _ _ American silver coin.
Of the exports during the same time. $1,064,000 were American gold coin and S. _ were American silver coin.
Xaniang and Einancial.
INVESTMENT SECURITIES
Our eight-page circular No. 687 describes several Issues of sound
Investment bonds yielding about 434 to 534%•
Spencer Trask & Co._
WILLIAM AND PINE STS..
NEW YORK
Branch offices: Chicago, ILL.. Boston, Mass., Albany. N. Y.
•
MOFFAT & WHITE
BANKERS
Members New York Stock Exchange
THE ROOKERY
5 NASSAU STREET.
NEW YORK
CHICAGO
BANKING and EXCHANGE of every description in connection with
EXPORTS & IMPORTS
International Banking Corporation
'ot. Jan. 8 8,147,0 12,395,9 98,029,5 7,217,0 8,394,8 12,845,9 3,648,8 112172,8
'ot. Dec. 31 8,147,0 12,395,9 95,830,8 7,095,0 8,318,0 12,440,0 2,838,4 110080,9
'ot. Dec. 24 8,147,0 12,395,9 95,191,7 7,176,4 8,098,8 10,836,8 3,302,2 107824,7
CAPITAL & SURPLUS. 16,500,000
60 Wall St., New York.
BRANCHES and AGENCIES throughout the WORLD.
Boston and Philadelphia Banks.-Below is a summary of
the weekly totals of the Clearing-House banks of Boston
and Philadelphia.
60 Wall St.. New York.
Organized under the Laws of N. Y. State.
'Accounts invited. Interest paid on Term Deposits.
THOMAS H. HUBBARD President.
THE INTERNATIONAL BANK
THE CHRONICLE
152
tankers' Gazette.
Wall Street, Friday Night, Jan. 14 1910.
The Money Market and Financial Situation.-Notwithsta, ding the fact that money-market Conditions at home
and abroad are easier, and that the enormous sums distributed, on Jan. 1 are now available for re-investment, the
security markets have again displayed unus al weakness,
and prices a 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.
A'Supreme Court c',ecision sustaining the Inter-State Commerce. 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
discussion' in Wall Street. It seems quite logical that investors 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 reports that orders for railway equipment and steel rails are
disappointing. This fact suggests the inquiry whether railway 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 drop, ed 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 332@4%.
Commercial paper quoted at 432@5% for 60 to 90-day endorsements;4%@5% for prime 4 to 6 months' single names
and 5(4)532% for good single names.
The Bank of England weekly statement on Thursday
showed an increase in bullion of £1,047,145 and the percentage of reserve to liabilities was 47.54, against 39.40 last week.
The rate of discount remains unchanged at 4%, as fixed
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.
Averages for
week ending
Jan. 8.
Differences
from
previous week.
1909.
Averages for
week ending
Jan. 9.
1908.
Averages for
week ending
Jan. 11.
5
8
$
$
126,350,000 129,100,000
127,350,000
Capital
165,447,700 163,396,900
180.024,400
Surplus
Loans and discounts_ __ 1,197,996,600 Inc. 3,385,900 1,297,035,700 1,117,149,600
72,295,300
50,254,200
85,800
52,411,600 Dec.
Circulation
1,179,073,100 Inc. 7,340,700 1,358,349,800 1,051,651,000
Net deposits
73,172,700
8,791,200
5,300
1.607,000 Dec.
U. S. dep. (incl. above)
989,400 279,129,900 206,732,500
203,401,000 Dec.
Specie
62,264,300
83,151,000
69,132,600 Inc. 1,401,700
Legal tenders
Reserve held
25% of deposits
Surplus reserve
Surplus excl. U.S. dep..
299,533,600 Inc.
294,768,275 Inc.
268,996,800
262,912,750
412,300
1,835,175
362,280,400
339,587,450
4,765,325 Dec. 1,422,875
22,692,950
6,084,050
5,167,075 Dec. .1,424,200
24,890,750
24,377,225
Note.-The Clearing House now issues a statement weekly showing the total
of the actual figures on Saturday morning. These figures; together with the returns
of separate banks, also the summary issued by the State Banking Department
showing the condition of State banks and trust companies not reporting to the
Clearing House, appear on the second page preceding.
Foreign Exchange.-Easier discount rates abroad have
not 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 4 843/ 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
2@ 4 83%.
payment 4 82%©1 83, grain or payment 4 833/
To-day's (Friday's) actual rates for Paris bankers' francs
were 5 18% less 1-16@5 183 for 1 ng and 5 16% less 1-32
@5 16% for short. Germany bankers' marks were 94%©
7 for long and 95 -16 less 1-32@95 5-16 for short. Am944
sterdam bankers' guilders were 40 17@40 19 for short.
Exchange at Paris on London, 25f. 18c.; week's range,
25f. 19c. high and 25f. 17c. low.
Exchange at Berlin on London, 20m. 453Of.; week's
range, 20m. 4 Mpf. high and 20m. 45pf. low.
The range of foreign exchange for the week follows:
Sixty Days.
Sterling, Actual4 8440
High for toe week
4 8390
Llvv for the week
Parts Bankers' Fra.lcs5 1834 less 1-32
Ill 11 for the Wee'
5 19 less 1-13
L),v for the weex
Germany Bankers' Marks54%
High for the we
94 •!4
Llw for the'we'
Amsterdam Bankers' GuildersHigh for the Wee%
Low for the week
Cheques.
4 8695
4 8665
Cables.
4 8740
4 8715
5 log less "--." S 16%
5 16M less 1-16 5 16M less
05M
9534
95 3-11 less 1-32 9534
4034 less 1-16
90 3-16 less 1-11
- The following are the rates for domestic exchange at the
undermentioned cities at the close of the week: Chicago, 15c.
per $1,000 discount.• Boston, par for cash. Charleston,
buyingi, par; selling, 1-10 premium. Savannah, buying,
3-16 discount; selling, par. St. Louis, 35c. per $1000 premium. St. Paul, 80c. per $1,000 premium. New Orleans,
commercial, $1 per $1,000 discount; bank, $1 per $1,000
FoL. Lxxxx.
premium. San Francisco, 50c. per $1,000 premium.
Montreal, 813c. per $1,000 premium.
State and Railroad Bonds.-Sales of State bonds at the •
Board $25,000 Virginia 6s def. trust receipts at 50 to 53.
Transactions in railway bonds have been on a smaller scale
than for a long time past-indeed, not since early September have they aggregated so small an amount-and, as in
the stock market, prices are 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.,
United States Bonds.-No sales of Government bonds have
been reported at the Board this week. The following are
the daily closing quotations; for yearly range see third page
following.
Interest
Periods
2s, 1930
registered Q-Jan
coupon Q-Jan
28, 1930
3s, 1908-18
registered Q-Feb
coupon Q-Feb
3s, 1908-18
3s, 1908-18_ _ _ _small coupon Q-Feb
4s, 1925
registered Q-Feb
4s, 1925
coupon Q-Feb
28, 1936.Panama Canal regis Q-Feb
2s, 1938_Panama Canal regis Q-Nov
Jan.
8
Jan.
10
Jan.. Jan.
12
11
,
Jan.
13
Jan.
14
*101 *J.01 *100% *10034 4.10034 *10034
*101 *101 *10034 4.10034 *10034 *10034
*10134 *10134 '10134 *10134 *10134 *10134
5 *10134
*101% .10134 *10134 *10134 *101/
*11434 *11434 •11434 *11434
*115 *115 *115 *115
*10034 *10034 *10034 *10034
*10034 .10034 *10034 *10034
*11434 *11434
*115 *11434
*100% *100
*10034 *100
* This is the price bid at the morning board; no sa e was made.
Railroad and Miscellaneous Stocks.-As stated above, the
stock market has continued weak. All classes of shares
have participated in the downward movement, which added
an average of from 4 to 6 points to the decline noted last
week. As was the case then, Rock Island led the 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 character. U. S. Express is exceptional in an advance, early in
the week, of 25 points, and a subsequent decline of 20. Laclede Gas has declined nearly 8 points, Consolidated Gas 834,
Smelting & Refining over 7, General Electric 6% and Amalgamated 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
STOCKS.
Week ending Jan. 12. for
Week.
Range for Week.
Lowest.
27 76 Jan
Amer Telegraph & Cable
100 106 Jan
Buff Rochester & Pitts__
100 133 Jan
Preferred
15 120 Jan
Cent & So Amer Teleg_ _
14,450 1434 Jan
Chic & N W rights
Comstock Tunnel 1st 4s_ $3,000 20 Jan
200 115 Jan
Colorado Fuel & I. pref_
7 88 Jan
E I du Pont Powd, pref_
100 58 Jan
Evansv & Terre Haute_ _
600 95 Jan
General Chemical
15 103 Jan
Preferred
400 82 Jan
Homestake Mining
255 55 Jan
Kanawha & Mich tr rcts_
10 3 Jan
Manhattan Beach
N Y Cent & Ilud R rights 4,214 6 Jan
N Y N H & II subscrip
rects 1st paid
2,20014754 Jan
15 8334 Jan
New York Dock, pref__ _
410 254 Jan
Ontario Sliver Mining
Pennsylvania subscrip
200 13234 Jan
receipts 1st paid
200 2534 Jan
Peoria ec Eastern
100200 Jan
Rensselaer & Saratoga_
100 30 Jan
Rutland, pre
100 55 Jan
St. Jos & Gd Isld 1st pref
147 83 Jan
3outh Porto Rico Sugar_
100113 Jan
Preferred
200 145 Jan
twin City It T, pref
34 Jan
5,865
U S Rubber, rights
400 5034 Jan
West Md warns 4th paid
Highest.
12 77 Jan
10 106 Jan
14 133 Jan
14 120 Jan
14 16 Jan
8 20 Jan
12116 Jan
8 88 Jan
14 58 Jan
12 96 Jan
13 104 Jan
10 85 Jan
12 55 Jan
11 3 Jan
8 634 Jan
Range forYear 1909.
Lowest.
Highest.
12 75
Feb 85
10 00
Jan 105
14 130 June 133
14 105
Jam115
81 1534 Dec; 1634
121 15
Mehl 24
12 67
Mch,115
8 8734 Nov 88
14 60
July 60
12 61
Jan 95
13 9834 Jan 108
11 7354 Nov 9434
12 50
May 61
11 234 Jan 554
85.6854 Dec 634
Sept
Dec
July
June
Dec
May
Nov
Nov
July
Aug
Aug
Apr
July
June
Dec
11 148 Jan 8 14734 Dec 14934 Dec
Jan 823$ Aug
8 8334 Jan 8 75
Oct 53$ Jan
12 234 Jan 12 2
11 13234 Jan
13 28 Jan
12200 Jan
11 30 Jan
14 55 Jan
10 83 Jan
12 113 Jan
13 145 Jan
M Jan
8
13 5134 Jan
11 134
10 2334
12
11 28
14 4934
10 7934
12 113
13 125
11
10 48
n
Dec 134
Feb 28
Mch 3834
Mch 6034
Dec 83
Dec 115
May 195
Dec
M.
Dec 55
Dec
Dec
June
Dec
Dec
Dec
Nov
Dec
Dec
Outside Market.-Weakness has been the chief characteristic of the "curb" market for the period closing to-night.
Business has been on a reduced scale, while prices have
moved to lower levels. Boston Consolidated, after an ad% and rose to 20 8.
vance from 213% to 22, dropped to 203
To-day it sold down to 20. Britis Columbia moved down
%.
from 834 to 73%. Butte Coalition lost over a point to 268
2. Greene
Giroux advanced from 11% to 123 and fell to 113/
Cananea improved from 11% to 113. and reacted to 10'/8•
Miami went up about a point to 28%, then sank to 253/9•
9,
% and fell to 253/
Nevada Consolidated rose from 26% to 273
%. Ohio Copper sold up from
the close today being at 255
534 to 532 and weakened to 4 13-16. United Copper com4 and up to 834, the
mon was traded in down from 83/i to 73
close to-day being at 8. Kerr Lake went up from 103% to
5 with the final quotation to-day
10 15-16 and down to 9/s,
% to 103'2 and weakened
9%. Nipissing advanced from 103
to 10. In industrials, American Tobaceo was active, losing
4 points to 417,then selling up to 427. Standard Oil opened
the week at 660 and closed to-day at the same figure, having
sold as low as 65934 and up to 662. United Cigar Mfrs. common gained 2 points to 94 but ran down'to 80, with transacto
tions to-day at 00. Chicago Subway advanced from
5. In the bond department, Chicago. Great Western 48,
%;and subse"w. i.," were traded in down from 91 to 903
quently at 903-'. Missouri Pacific 5s, "less intOreSt," advanced from ,95 to, 95%,,then fell to- 953A, recovering
• finally to 96. "Full paid" 5s mngedbetviieen:953(and•94%
Western Pacific 5s advanced from 973/i to 973
%•
Outside quotations will be found on page 162.
New York Stock Exchange-Stock Record, Daily, Weekly and Yearly
OfICUPV11 8. TIVO PAGE*
STOCKS
Sales of
NEW YORK STOCK
the
Week
EXCHANGE
Fr Way
Shares.
Jan. 14.
STOCKS-MOW:ST AND LOWEST SALE PRICES.
Saturday
Jan.8
Monday
Jan 10
Tuesday
Jan. 11
Wednesday
Jan. 12
Thursday
Jan. 13.
Range for Year 1909
On basis of 100-share lots
Lowest
)
If takes'.
Railroads
122 12273 1211? 12278 12018 1221, 11931 12138 11978 12078 11813 12034 130,050 A tch Topeka 40 SantaFe 9778 Jan 13 12538 Oct 2
10014 Jan 20 10634 J'ne 29
10418 19413 10414 10414 11333 10334 1031, 10334 10314 10378 10378 10373 2,227 L.11- Do pref
i071, Jan 14 1431. Aug 12
2,500 Atlantic Coast Line RR
134 13414 13114 133
13412 135
135 135
*135 13634 135 136
1031; Feb 23 12214- J'ly 29
11813 11918 118 119
11733 11773 117 11778 11634 11712 116 11712 24,600 'Ialtlmore & Ohio
110 II Do pref
91 - Nov23 06 Apr 12
9414 *9314 9414 *9312 9414 931, 9312
49414 9414 *9314 9414 *93
67 Jan 9 8278 J'ne 7
Brooklyn
Rapid
Transit..
44,795
7814
7358
7)97712
7958
7773
7918
7838 7914 78'3 8014 7814
x165 /deli :1 18938 Oct 5
17918 1811,, 6,300 eianadian Pacific
18034 18034 18018 113012 17938 180
17913 18012 17834 180
v ianada Southern
6014 Jan 11 7014 Nov15
7()
*68
7212 *68
*69
72
*68
72
*68
7212 *6814 72
215 Feb 23 32313 Sep 18
530 Central of New Jersey
312 312
310 312
308 311 *305 315 *305 315 *305 312
5553 Jan 6 9114 Dec 31
,
8 8634 8934 08,095 Chesapeake & Ohio
9012 0114 90
9118 8958 9058 89
9034 8838 89
25 Chicago & Alton RR
5778 Feb 24 7434 Apr 1
*64
67
67
6612 *64
*64
*66
68
467
67
*64
67
Nov 1 7812 Mch27
Do
pref
69
70
*.-__
69
*-71
*68
70 *____ 71 *__ 7112 *
--..----------------------100
Chic G Wes ctfs dep 3d pd 58 Aug 20 2438 Dec 30
_
2414 2414 _.- _ _
Do pref"B" ctfs 3d pd_ 51314 Aug 23 3178 Dec 30
3112 Dec 23 3733 Dec 29
-532 -3.4-12 10-,000 Chic Gt West trust ctfs
.
5.8.78 -311;• -5:iil../ -3-6-6; -5,F3 I51.1 "ii434 -3-5-1-2 34 -3
4,300
Do prof trust ctfs ____
5834 Dec 23 6434 Dec 30
6134 *6114 62
61
62
63
637g 0.313 6413 6214 6253 62
99,900 Chicago Milw & St Paul-_ 141 Feb 23 16518 Sep 18
15514 15534 15314 1556t 15214 15312 15078 15312 15014 15112 14758 152
16914
1,560
16812
Do
pref
Mch 15 181 Aug 16
16917
15812
16912
172 172
170 170 *170 172
16912 16978
157 16012 7,711 Chicago & North Western 17318 Feb 24 1981, Aug 1S
179 179 116212 16334 162 16212 160 16158 16018 161
Do pref
208 Mehl5 4230 - Aug 7
*210 225 *205 220 *200 225 *200 215 *200 215 *200 215
100 Chic St P Minn & Omaha 148 Apr 22 167 Aug 13
150 150
*153 160 *153 160 *150 160 *150 160 *150 160
Do pref
16613 Jan 30 4180 J'ly 27
*160 170 *150 175 *160 175 *160 175 *160 175 *160 175
5(10 Chic Un Trac ctfs stmpd
7 Jan 4
312 Dec 16
412 434
*412 5
*412 512
5
5
*412 5
*412 5
Do pref ctfs stmpd
_______
12
*10
734 Dec 7 1814 Jan 27
12
1212 *10
*1012 121: *1012 1313 *10
1213 *10
68 Jan 29 8314 Dec 27
*80
8113 79
7912 7878 7912 1,400 Cleve Cln Chic & St L
79
7914 791:2; *7914 8112 79
Do pref
100 Jan 4 105 Mch22
*104 10813 *10334 10812 *104 10812 *10331 10812 *10334 10812 *104 108
5,375 Colorado & Southern
51 Oct 23 6814 Jan 8
5758 60
60
6038 61
61
6214 6013 61
6912 6078 60
420 Do 1st preferred
7612 Jan 2 86 May 1
821.1 8214 *82
*8114 8213 8114 8114 8114 8114 8114 8114
84
500 Do 2d preferred
8013
7314 Jan 2 811, Jan 7
80
81
*8014 8112 8012 8012 *80
*8012 81
*8012 82
3,800 Delaware & Hudson
16734 Feb 24 200 - May14
17013 18913 177 180
*181 183
180 1801.1 17934 181
182 182
-I-/elaware Lack & West_ 535 Feb 6 680 Apr 22
*590 630 *550 630 *595 615 *595 615 *505 615 *590 610
4812 13,690 Denver & Rio Grande.- 3758 Jan 6 54 Apr 20
475s 4914 4714 4333 45
5014 5158 5118 5118 4834 50
Do pref
7912 Jan 6 90 Feb 10
8314 8234 8318 8112 8214 7913 8212 2,505
84
*8318 8334 83
584
170 Detroit United
58 Jan 30 7134 Aug13
*63
67
63
46313 6313 63
67
67
*63
*63
67
•63
So
Shore
&
Duluth
Atlan
1618
1634
1618
1614
1,300
1414 Nov 9 21 Jan 15
*1613
18
1658
17
1712
1713
1734 1734
Do pref
31
1,250
28 Feb 23 3812 Jan 15
3314 3313 3313 3313 3214 3214 3113 3134 3112 3112 31
3278 15,700 Vile
2258 Mch 11 39 J'ne 7
331, 3234 3314 3258 3313 32
3334 3414 3312 3418 33
5013 49
3612 Meh 11 5634 Aug 9
5012 8,950 I-:z Do 1st pref
52
5214 5112 5238 5078 6134 5038 5138 50
Do 2d prof
3918 1,00C
2812 Arch 11 46 Aug 2
40
4012 *3912 4034 3913 3913 39
*4012 411. 4012 41
13658 Feb 24 15778 Aug 12
13838 13958 13612 13878 13612 1:1758 13538 13713 30,915 Great Northern pref
14214 14212 x140 141
7838 15,800 Iron Ore properties_. 6518 Mch12 8813 Aug 12
7734 73
7312 7768 7834 77
7934 78
7913 79
79
deb
W,
ctft
1312 Nov26 21 Dec 13
50 Green Bay &
1512 1512 16
16
16
16
1612 17
17
17
800 ITavana Electric
39 Feb 1 103 Dec 27
90
94 *__-- 81.31 8018 -9.2
97 *_„- 96 *___.. 96
200 i-11- Do pref
8318 Feb 5 100 Dec 21
9934
9934 *90
9934 *91
0934 *9512 9934 *90
9934 *94
*94
Hock Val J P M & Co rets 97 May 3 126 Aug 14
*118 120 *____ 12234 *108 120 *108 120 I.__ 123 *108 120
Hocking Valley pref
4,
99 * ___ 90 *___ 00 *_.. 90 *____ 90 :<____ 90
88 Apr 27 941, J'ne 11
. Aug 12
137 Feb 23 16213
14134 14512 6,315 Illinois Central
__- 14812 146 14678 14534 14618 146 14618 145 146
14614
2414 2458 2412 2518 2438 2512 2414 2518 24
2478 2312 2538 99,740 interboro-Metropolitan - 1158 Meh21 2578 Dec 8
Do pref
6018 6012 6018 613s 6018 5214 6038 6278 6058 8238 5912 6234 85,500
3634 Arch23 6358 Dec 8
2634 Nov27 36 Apr 15
2918 2918 *2812 2912 28
2712 2778 2673 27
1,000 Iowa Central
28
*2712 28
Do pref
48 Sec. 9 62 Apr 15
900
5234 5234 *52
53
58
52
5234 *52
5234 *52
5034 8034
*77
80
80
Ir C Ft S & M tr cfs, pref 7434 Feb 2 82 Sep 14
--_ - *77
88
*78
*77
80
*77
80
4312 13-12 4278 4313 4214 4258 4112 4278 4158 4212 4012 4213 5,350 ivansas City Southern-- 37 Feb 23 5014 Aug 18
6771 Feb 24 7512 Aug 18
Do prof
6912 70
7018 70
70
1,875
70
*6912 7012 6978 6978 *6953 71
1912 Feb 25 2913 Aug 2
25
25
24
2414 2434 24
*23
2513 *23
650 Lake Erie & Western
25
*2313 2412
*6114 63
6114 02
6113 1,800
Do prof
6112 62
62
62
48 Jan 23 6478 J'ne 14
6134 6134 61
400 Long Island
70
70
*68
6814 6814 *68
68
68
*67
70
07
67
51) Jan 4 7112 Dec 24
x121 Jan 29 16212 Aug 12
158 15814 15612 15814 15618 15613 15514 15612 15513 15618 15314 15534 12,400 Louisville & Nashville
137 Dec 2 15312 Jan 4
1:3734 13734
125 "IVIanhattan Elevated
4138 138 *13612 13812 *137 139 *137 139 *136 139
*20
25
*20
25
314 1,x etropolitan Street
18 J'ly 2 42 Jan 5
2:1
23
*20
25
*20
2412 25
24
1,300 Minneapolis & St Louis
63
5114 4912 50
53
*51
5014 5012 51
51 Sep 16 65 Jan 8
6234 11234 *51
Do pref
*80
88
*80
88
81 Atch10 90 Jan 8
89
*82
86
*81
88
88
*82
*81
13212 Jan 2 14913 Jan 8
138 13812 13718 13734 137 13734 13614 13714 135 13734 2,025 Minn St P & S S Marie
139 139
Do pref
147 Apr 13 1641, Ain, 9
100
15318 15318 *152 154 *153 156 *153 155 *153 155
*153 154
Do leased line ctfs
89 J'ly 22 94 - Dec 23
9212 1,300
92
*92
9234 92
*9234 9278 9213 9213 9218 9213 *92
3512 Feb 23 501, Oct 18
4814 4913 4758 4918 4712 4812 4578 4858 51,100 Mo Kansas & Texas
4834 60
4e34 50
Do pref
600
71 Feb 23 7814 Oct 18
74
7418 *7313 7478 74
7312 7312 7318 7318
7418 7418 74
65 Feb 24 771. Aug 5
14,000 Missouri Pacific
7113 7034 7114 7014 7078 6914 7014 69
6938 6612 70
71
100 ''ash Chatt & St Louts_ 12212 Jan 5 142 - Dec 17
139 139 *138 142 *138 145 *138 145 *138 145 *138 195
1,200 LI at Rys of Mex 1st pref 4412 Apr 5 84 Dec 31
61
6134 61
61
6158 6158 61
6214 6234 61
62
62
21 Dec 1 2658 May22
Do 2d pref
2514 2434 251, 0.900
2512 2512 2512 2734 2513 2514 2513 2558 25
12414 12434 123 12478 122 12278 12114 12314 12118 12214 11958 12238 80,061 N Y Central & Hudson-- 12012 Tel) 24 14734 Aug 18
200 N Y Chic & St Louis-- 4812 Mch 15 69 Nov19
*60 6360
6113
66
*62
*62
65
*62
66
*62
65
Do let pref
100 Feb 20 100 Feb 20
*105 110 *105 110 *105 110 *105 110 *105 110 . 405 110
Do 2d pref
05
*90
95
*90
95
*90
*92
05
*90
95
*90
05
7614 Apr 6 95 Nov19
1154 Nov13 17434 J'ne 14
2,400 N Y N H & Hartford
15612 157
157 157
158 158
*15613 158 *156 15712 15634 167
4914 4914 4834 4e"
4814 4812 4734 4813 4613 4712 461s 475s 8,700 N Y Ontario & Western- 4214 Feb 24 5558 J'ne 12
0614 99
14,500 Norfolk & \Western
00
9914
8414 Jan 6 102 Dec 10
98
9'778 0818 9734 9814 98
9834 99
*89
91
91
210
Do adjustment pref
8513 Ateh26 9212 J'ly 28
8913 891. ____
*89
91
_
*89
91
49I
13314 Feb 24 15912 Aug 12
14318 14312 14268 1435; 14113 1124 x138 14012 13778 1:391. 13614 13:, 39,430 Northern Pacific
1,850 'pacific Coast Co
114 11834 11678 11578 11638 110"
76 Mch 3 11613 Dec 31
117 11718 11612 11612 *115 117
Do 1st pref
100 Meh30 4106 Sep 28
I*101 103 *101 103 *101 103 *101 103 *100 108 *101 110
Do 2d pref
88 Mch27 115 Dec 31
500
118 118 *117 118 *116 11712
117 117 *117 118 *116 118
12618 Feb 23 15114 Sep 29
13558 13613 13558 13634 13478 13558 13418 13531 13418 13518 1:3234 135 191,345 Pennsylvania
8612 Jan 5 9978 Dec 22
98'.
4,350 Pittsb Cin Chic & St L
9E34 9334 98
9838 97
0978 99
99
9938 9912 99
104 Feb 10 11614 Sep 21
Do pref
*110 120 *110 120 *110 120 *110 120 :,110 120 *110 120
118 Feb 23 17338 Sep 21
3 16412 638,150 DeadIng
16633 1673.1 16658 16838 16514 16613 165 16758 16478 16712 x160,
931f:
89 Meh22 96 Aug23
1st pref
49314 0314 *9134 9312 02
320 J.
92
92
*9112 9:312 *92
92
90 Feb 1 11712 Dec 23
2d pref
10:3 103
1,975
104 105
*10634 108 *106 10813 105 10612 105 105
4634 116,451 Rock Island Company- 2078 Feb 24 81 Dec 27
4634 47
4698 48
4412 4634 4378 4513 4273 4412 44
5758 Feb 24 9434 Dec 22
Do pref
5,90C
8743 88
8418 85
8412 87
8612 8713 8518 86
85
84
7214
Qt L & San Fr,1st pref-- 6514 Arch 29 74 Dec 8
72
*7114 7214 *7112 7213 *71
*71
72
*71
7213 *70
36 Feb 23 6034 Sep 16
5912 58
59
68
5613 571 7 6,500 10 Do 2d pref
5712 5838 57
58
5712 58
2012 Feb 25 :3538 Dec 7
3212 3158 32
31
3134 3113 3214 3,300 St Louis Southwestern
3234 3314 32
3253 33
Do pref
471. Jan 8 82 Dec 7
7334 7434 2,100
75
7538 75
76
7434 75
*7512 7712 7512 76
11458 Feb 24 13918 Aug 16
13613 13718 135 13634 13334 135
13318 13513 13278 13418 13(314 134).- 253,203 Southern Pacific Co
3114 3178 3634 317,, 21,100 Southern v tr cis stint:id- 22 Feb 24 34 Aug 11
3213 3278 3238 3278 3158 3214 3158 32
72
Do pref
do
7358 7218 7234 7134 7213 7112 72
69
7,610
7312 73
60 Jan 5 7512 Dec 15
73
35
3558 3412 35
3513 36
3412 3478 3414 341, 32
30 Feb 24 4012 Aug23
3434 12,000 rilexas 60 Pacific
1714 11,370 .1.hird Avenue (N Y)_,- 1214 Dec 8 421. Jan IS
1718 1778 16
1878 1938 1813 1012 1712 18
1712 18
153) 14
14
1513 1434 1534 15
131: 13,850 Toledo Railways & Light
13
7 May12 1.538 Jan 2
1234 14
15
5258 5312 6234 5334 5278 5314 5212 5278 5178 5263 5112 5214 2,800 Toledo St L & Western
4:1 Feb 26 5473 Oct 10
7063 70
Do pref
71
3,500
6434 Feb 24 7411 Jan 4
7158 7178 7114 7113 7134 7134 7014 7158 70
*11512 116
115 116
115 11538 115 115
11412 115
114 114
2,30" Twin City Rapid Transit 97 Jan 2 11614 Dec Lo
20112 20214 19934 20214 19812 20018 19638 19934 196 19734 19334 19818 363,22., 1 jnion Pacific
1721. Feb 29 219 Aug 10
10013 10238 6,000 %-) Do pref
10134 10238 10114 102
194 Mch 1 11813 AIM 16
103 10312 10234 10312 10238 103
4,313 411, 41
41
42
42
42
42
4134 1,060 Unit Rys Inv't of San Fr 30 Feb 25 47 Sep 13
42
*41
44
721,- *70
7213
7213 *71
350
Do pref
7212 *10
5014 Feb 25 77 Sep 14
72
7238 7114 7114 *70
15 Feb 23 2778 Dec "0
2518 2414 2512 2314 2433 2212 2353 221. 2314 2178 2312 30,000 'Wabash
25
61,381 IT
Do pre'
41 Feb 23 6134 J'ne 15
57
5738 5534 6712 5334 5613 5234 5412 523; 5312 4812 54
4914 5014 4134 5015 4814 5012 14,400 West Aid rects 4th paid- z21 Oct 9 56 Dec 16
5114 5012 50.3
5078 5112 51
5 J ly 13 1273 Jan 4
578 6
9,250 Wheeling & Lake Erie._
653 8
513 7
512 6
10
*9
013 91^
1012 12
1013 1134 10,400
Do 1st pref
1614 201, 1012 16
1514 J'iy 13 2578 Jan 8
2118 2214 2113 221.-i
613 J'Iy 13 1518 Jan 8
Do 2d pref
6
614 8,050
*1112 1212 *111, 1212
812 1 112
614 813
614 7
*4912 50
49
1,700 Wisconsin Central
3573 Jan 6 6378 Apr 20
50
52
*4913 5012 99
5034 51
5
50
Tin nref TriiRt en ells
RAI. Meh 3 9170 May20
Range for Previous
Year (1908).
Lowest
Highest.
66 Feb
8338 Feb
591,Arch
7013
- Feb
80 Jan
3714 Feb
140 Feb
54 Arch
160 Feb
2512 Feb
10 Feb
47 Mch
318 Feb
5 Feb
-I
10114 Dec
104 Dec
1111. Dec
11173
- Dec
94 Dec
6934 Dec
18018 Nov
08 Nov
229 Dec
5938 Dec
6878 Dec
79 Dec
1458 Nov
1718 Nov
10312 Jan
138 Jan
13513 Jan
185 Jan
114 Feb
14012 Jan
58 Apr
4 Apr
4712 J'no
8518 Feb
21 Feb
5038 Jan
3934 Feb
14112 Feb
420 Jan
1414 Feb
3914 Mch
3212 Apr
6 Feb
1134 Feb
12 Mch
2438 Mch
16 Mch
11334 Feb
4813 Jan
8 Jan
20 Mch
470 Jan
62 Feb
69 Arch
12212 Feb
634 Jan
1718 Feb
10 Feb
2713 Feb
57 Aug
18 Feb
46 Feb
12 Jan
34 May
30 Feb
8714 Feb
120 Jan
15 Feb
20 Meli
61 Feb
7914 Jan
12312 Feb
15212 Dec
16434 Dec
18512 Dec
224 Dec
160 Dec
174 Dec
718 Dec
18 Dec
7012 Dec
9978 Dec
59 Dec
79 Dec
76 Dec
18138 Dec
575 Nov
4012 Dec
8314 Dec
56 Nov
1834 Nov
3334 Nov
36 Nov
5138 Dec
41 Dec
14814 Dec
7518 Nov
1712 Dec
40 Dec
84 Dec
10412 Dec
93 Dec
14034 Nov
20 Dec
4913 Dec
3213 Dec
57 Dec
7512 Dec
4238 Dec
7218 Dec
26 Dec
58 Dec
5638 Dec
12534 Dec
15434 Dec
4412 Dec
5612 Dec
90 Dec
135 Nov
15112 Dec
171, Mch
431. Dec
46 - Feb
751; Dec
2812 Feb
6712 Dec
9734 Jan 122 Nov
9018 Jan
2412 Jan
90 Jan
60 Feb
12838 Jan
2918 Feb
58 Feb
74 Mch
11678 Jan
65 Sep
90 May
79 Meh
10834 Jan
59 Jan
8118 Arch
9218 Feb
78 Jan
76 Jan
1013 Feb
2034 Feb
42 J'ne
1914 Feb i
10 Mch
2413 Feb
6614 Feb
918 Jan
2513 Arch
1234 Feb
1513 Alch
612 Oct
12 Feb
33 Feb
7814 Feb
11012 Arch
7914 Apr
15 Jan
2712 Jan
634 Mch
13 Meta
126 Dec
5712 Dec
105 Nov
85 Dec
161 Nov
4778 Dec
8614 Nov
88 Dec
15734 Nov
9312 Jan
00 May
97 Jan
13214 Dec
8812 Dec
10834 Nov
14314 Dec
02 Dec
09 Dec
2514 Dec
6258 Dec
69 Dec
4214 Dec
24 Dec
5578 Dec
12213 Dec
2714 Dec
631. Dec
3714 Dec
47 Aug
15:2 Dec
50 Deo
7313 Dec
9638 Dec
13478 NOV
98 Nos
40 Dec
5915 Dec
2058 Dec
5234 Dec
413 Mch
1218 Apr
6 Feb
1312 Feb
13 Dec
2614 Dec
1534 Nos
3814 Dec
_.
BANKS AND TRUST COMPANIES-BR 'KERS' QUOTATIONS.
Bid Ask
Bid
Ask
Banks
Banks
Bid
Bid
Ask
Ask I
Banks
Banks
Bid
Ask
Bid
Banks
Banks
Chatham __ 310 350 Fifth Ave¶.. 4301 4500 Imp & Trad t565 35091, Mt Aforrist. 250 275 Plazall
625
New York
Chelsea
Ex
ri
__
Mutual
1g..-1282
_...._
Prod
Each
11'
Aetna
181
200
170
Fifth
300
350
3208
171
Irving N Ex
_ __
- 130
010 Chemical
445
450 First
900 025 JefTersont.- _ __ 1-9-0 Nassau li___ 225
America If_
_ _ 14th Stlf.-- 155
.... New Neth'd 200
___ Liberty__ 5/5
310 SeaboardReserve350
Amer Each_ 1255 12551f Citizens' CM 110213
42212
4-27
12
City
12
04
- 4-3-0 NewYorkCo 750
____ Second
135
Fourth ..
t200
Lincoln__
400
Audnlion
131
155
Rights._
31
__ Manhattanli tiii
____ New York_ 13291,1333 Sherman-. 135
Battery Pk.. 125
130 Coal & Iron 145
N'ht &Dan 225 230 State ill
____ Gallatin _ 330 3-4-5
Mark't&Ful 126312
295
Bowery"...._ 375
300
__
Colonial 11
Bronx liorol! 300
_ 38) Garfield
_ 19th Ward_
205
_ 420 12th Ward_
__
300 Mechanics' 1270
_ . Columbia 11..
Br() ix ,
foii* Northern -- 1-01 110 23d Ward 110
I at 217 2-15 Commerce _ 1102 1203 Germ-Am ¶ 190
_ __ Mercantile _ 180
Bryant Pk V 1671,, 1121. Copper __ Pacifielj____ 230 240
Union Exc.. 190
4t-5 Aterch Each
__ ..... Germ'n EMT 950
Butch & Dr 140 - 150' Corn Ex IT.... 3-15 334 Germania 1i_ 550 575
Park
147012
Merchants' 16018) 1:i0
Wash H'ts'll 275
Century 11.. ,1 70
West Side ¶500
Metropolis! 399 41) People's 11.... 280 295
East Myer- 125
135 Greenwich ri 260
265
175
Chase
43) 465
Hanover_ _ _ 65) '7 ) Metropli'n . 19712 .. _ _ Phenix
Fidelity IT- 165
1771. 18713 Yorkville I'. 500
175
'Bid and I ked pr:ces; lo sales were nade on this day. t Ex-rights. *Less t tan 103 saares. liState banks. a ex-dividend and rights. b New stock
(Sale at StJc:c Emc:lange or at suctloa this week
n Sold at private sale at this price. s 2,1 pail. 4,:sa paid.
3 First installment paid
Ask
1-75
140
375
--...
-.
3-00
125
--.
2
.
00
--.
.......
.......
154
New York Stook Record-Concluded-Page 2
ST9C1C3-1110IIEST • A ?VD L9WEST 8.4LN PRICES.
.
Tuesday
Monday
Friday
WeInesday Taursday
Jan. 10.
Jan 13
Jan. 11.
Jan. 12.
Jan 11
Saturday
Jan. 8.
Sales of
the
1Veek
Share,:
Rance for Year 1909.
STOCKS
NEW Y021(C STOCK . Oa Oasis of 100-slowe lois.
EXCHANGE
Highest.
Lowest.
VOL. LXXXX.
Range for Previous
Year (1908).
Lotoesi
Industrial Miscellanoom
*250 300 *250 308 *250 301 *250 300 *250 303 0250 300
A dams Express
190 Jan 2,5 5250 Nov20 164 Jan
1412 141: *144 15
1412 16
1473 15
1414 *14
14
1434 2,500 131.11151-Chalmer3
1234 Feb 94 1673 Aug 3 I
5 Mch
531.
55
*53
5
4153
3
Do pref
5173 52
600
*50
534 5338
5212 53
5012
33 Feb 24 5712 Nov17 I 11 Mch
88
8833 • 8714 8812 8638 88
65 Feb 25 9618 Nov19 • 454 Feb
8758 8473 8638 8234 8512 171,400 Amalgamated Copper
86
4712 48
49
48
3,700 Amer Agricultural Chem- 3313 Jan 8 50 Aug12
47
4712 4834 48
48
464 47
47
13 Jan
103 103 *100
Do prof
100
__ *99
*101 103
.. *99
_
_ *99
9512 Jan 18 103 Aug 3
7812 Jan
4513 4534 4512 474 4534 7614 4534
2014 Jan 13 4912 Aug 2
4514 -464 43 753; 11.850 American Beet Sugar
912 Fob
Do pre:
100
94
*93
94
9334 9334 9334 *03
82 Jan 7 98 Oct 4
9334 *01
9334 *91
*92
65 Jan
1213 13
712 Feb 23 1518 Nov18
1314 1234 13
13/2 1313 1314 1353 13
1212 1313 10,350 American Can
4 Feb
Do prof
8011 8,035
7934 79
7113 Feb 23 86 J'ne 4
793s 7914 8012 79
7934 80'3 79
41 Jan
81
81
6634 69:3 6913 6878 18,10.) American Car & Foundry 4414 Feb 21 798. Nov 4
70
63
7012 7112 6953 2114 6912 70
2512 Feb
*11834 120 *11834 123 1123 120
Do pref
620
10712 Feb 2.3 12431 Aug 3
11834 11811 11983 11912 118 118
8414 )3,94
6634 6634 6634 67
4213 Jan f
6534 692 0534 6614 65
7914 Nov 5
6614 5,60, American Cotton Oil
64
66
2434 Feb
93 Jan 7 1074 1Nov 3 580 Jan
*103 107 *103 107 *103 107 *103 107 *103 107 *103 107
Do pref
820 American Express
302 300 *283 300 *285 300 4280 300 *280 300
300 301
1205 Feb 5 300 Dec 31 170 Feb
783 American Hide do Leather
712 734
234 Feb
734 734 41734 778 5712 712 *753 778
614 Feb 25 10 Sep 3 V
734 734
*4534 4634 4614 4614 4512 4534 4534 4534 4514 4558 4334 45
Do pref
1,650
1213 Mph
34 Feb 24 5113 Aug 3
2553 2534 2614 2613 2512 28
2513 2514 2413 2513 4,30) American Ice Securities
26
28
1213 Feb
1878 Jan 8 4214 Apr 13
*1634 18
1758 1634 174 1614 1658 4,700 American Linseed
17
17
12 Feb 25 20 J'ne 14
1634 1673 17
6 Mch
46
Do pref
46
4434 4634 4,519 4614 4313 4514 6,50.1
4513 4534 45
46
29 Jan 12 4734 J'nel4
17 Mch
5112 5878 5713 58
60
12,500 American Locomotive
6018 59
6)10 5734 50
5814 59
3133 Feb
40 Feb 23 6914 Aux 4
300
11413 115 *11413 11512 *113 115 *113 115 *113 115 *113 11.5
Do prof
10914 Feb 24 122 Aug 4
8512 Jan
*64 773 *612 8
500 American Malt Corp
613 612 *4i12 634 *082 8
512 J'ly 16 1112 J'ne 1
3 Mch
*612 8
40
40
4112 411. 41
3612 3978 1.30u
41
41
*40
Do prof
43
*40
21 Jan
38 Nov30 59 Sep 20
9015 95.9:i *90
8914 8934 8913 8912 8913 8912
800 Amer Smelters Sec prof B 80 Jan 4 9238 Aug27
9013 90
90
70 Jan
10033
97
9812
116,200
9813
10133 10173 10014 102
9434
9778
Amer
9934 10034
Smelting& Refining 7734 Feb 24 10.512 Nov211
8512 Feb
11014 111
3,600
11134 11134 *11114 11214 111 11114 11013 111
10912 111
Do pref
101 Jan 2 11634 Aug 6
8734 Feb
__ *250
*250 ___ *2510
__ ..._- American Saul/
- *250
__ 4250
___ *250
225 Mch 9 5285 Nov23 180 Aug
9512
foo
9513
*9614
200
1
6.)
*9512
Do
prof
*9513 100
*9512 COO
*9513 Coo
95 Melt 1 105 May22
80 Mob
6414 3,838 Amer Steel Found (new).. 3473 Feb 24 6638 Nov19
61
6413 65
66
*6114 65
65
60
6514 65
65
28 Sep
12212 12312 1224 12334 7,240 American Sugar Relining 11533 Nov30 1364 Sep 21
122 12212 12153 123
12213 123
12138 123
9834 Jan
20
*121 123 *121 123 112112 12112 *12112 123 *122 12212 *12134 1221.
Do pref
118 Nov15 131 Apr 8 105 Feb
1397
3
13712
139s; 13,89' American Teleph & Teleg 125 Feb 1 14513 Sep 29 101 Jan
140 14014 13973 14058 13914 13978 13914 13934 1394
*9412 98
05
05
595
05
9514 *95
05
95
610 American Tobac (new),pt 9012 Feb 6 104 May 11.1
9534
95
7212 Jan
3573 3358 3358 3334 3334 1,300 American Woolen
*3534 361. 3534 3534 3578 3573 31
1512 Feb
28 Feb 4 4012 Aug27
425
Do prof
*10212 1031-4 *10213 10314 10253 10234 *10214 10314 10278 10273 103 103
9334 Jan 6 10734 J'ne 14
7814 Feb
5213 53
5213 5312 52
5234 51
5238 5012 5158 4934 5114 30130 dAnacondaCopper Par425 $3734 Feb 28 $5433 Dec 31 $2712 Feb
q531
3234
34
*32
200 Ilethlehem Steel
31
34
33
*32
*31
34
*31
31
1834 Meh 9 3614 Sep 21
12 Jan
*6314 67
*6314 67
*6314 67
IP Do prof
*634 67
47 Feb 24 6013 Sep 3
*6314 67
35 Apr
*0314 67
160 16114 1553 153134 8,400 Brooklyn Union Gas..
113
16113 162
150 16119 159 16012 161 163
118 Jan 23 16412 Deo 31 x85 Feb
100
Brunswick Term do Ry Sec 1778 Dec 24 1912 Deo 21
18 *15
18
18 *18
*18
18
17
17 *16
1812 *15
*33
*33
Butterick Co
34
34
34
*33
*3234 34
*3234 34
34
*33
2373 Jan 2 37 Nov13 510 Feb
4513 28,900 i ientral Leather
44312 4413 4512 44
4658 45
4712 4734 4934 4778 46
2512 Mch 2 5134 Oct 7
1512 Feb
*108 10878 *108 10834 10834 10834 10813 10834 10838 10813 10814 10814 1,300 l./ Do pre(
9034 Apr 5 111 Sep 2
7534 Jan
49
49
4814 49I3 4713 4814 444 4734 454 4612 4313 4612 28,700 Colorado Fuel & Iron
29 Feb 23 53 Dec 14
1558 Feb
9134 9134 9134 91
9134 9178 9134 9178 91
9134 8914 9134 3,600 Col & Hock Coal & Iron.. 2138 Feb 23 9112 Deo 31
1434 Mch
350. 36c. 35e. 360. 350. 35e. 33o. 35c. 340. 340. 34o. 34c. 6,100 Comstock Tunnel_Par $2 21c Apr 21 37c Oct 7
200 (deb
15813 159
15614 15914 155 15634 154 15714 15334 156
14914 15614 72.500 Consolidated Gas (N TI.. 11412 Feb 4 16.514 Jan 4
04 Jan
2212 2212 2213 23
221$ 2234 22
2212 2112 2214 2034 2134 14,450 Corn Products Refining_
1612 Feb 24 2812 J'ne 2
1034 Feb
8513 8534 8514 8614 85
Do pref
8518 *8413 88
8312 8458 2,830
8412 85
7314 Feb 24 9312 J'ne 1
56 Jan
63
*58
*58
62
*58
*55
63
63
63
*57
63
*68
Crex Carpet
45 Jan 5 63 Deo 11
4712 Oct
39
3553 3578 3553 3558 3412 3513 2.470 Distillers' Securities Corp 3212 Feb 23 410; Jan 23
*3612 3714 x3612 3634 36
2714 Feb
Federal Mining & Smelt'g 55 Mch 2 951i Mayl 1
79
*70
79 *__-. 70 *_.. 79 *...,... 77 *---- 77
*60
7212 Nov
*85
200
Do pref
83 *85
89
87
*85
88
*80
89
90
80 Feb 24 94 Aug 11
59 Feb
89
*86
15614
15812
3,700
15912
15714
General Electric
15718 154
15913
15910 15712 1594 15734 15913
15013 Feb 23 17234 Aug 12 111 Jan
Granby Cons M S & R.- 91 Men 12 11013 Deo 29
*00 112 4.____ 112
0105 112 *____ 112 *____ 112
*90 112
7834 Jan
122 122
123 12378 124 12.114 122 12313 121 12312 121 12314 7,550 4 nt Harvester stk tr etts 82 Jan 30 11834 Dec 31
52 J'ne
450 .1. Do prof stk tr Ors_ 10014 Jan 16 128 Dec 21
*120 1261. 12713 12712 *12413 128 512713 12712 12612 12734 *126 128
99 J'ne
71.,
718 7i8
*7
718
718 718
7
61a 67s
634 7
2,200 Int Mer Marine stk tr ctfs
533 fly 9
0 Oct
9 Oct 2
2258 21
2212 3,230
52314 2314 2314 2312 52333 2333 2213 2273 22
Do pref
1834 J'IY 9 2753 Jan 2
16 Feb
143
4
*15
1,250 International Paper
1313
15
1534 *15
1513 15
1473 15
15
15
912 Mch t3 1914 Jan 24
8 Apr
5934 5934 5814 5914 5734 58
5813 5813 5712 58
5614 5714 2,250
Do prof
4734 Mch18 6934 Aug 3
47 Oct
5312 5334 54
5412 53
5314 9,700 /nternat Steam Pump__ 3312 Feb 25 5412 Nov12
54
53
5414 524 5338 50
13 Jan
*8813 9012 1,085
90
90
90
90
90
90
90
90
' 90
90
Do pref
8212 Jan 30 91 Sep 20
65 Jan
11434 11534 11412 11612 111 11414 10878 11113 10778 10914 10613 10834 48,830 Laclede Gas (St L) coin.... 104 J'ne25 11333 Deo 31
*8914 913.; *8914 9134 *8914 91
8938 90
*3.5
90
300 Mackay Companies
8973 8978
70 Jan 21 9513 Nov18
52 Feb
7314 77
78
78
*77
Do prof
77
500
*7612 79
7713 7712
*7634 79
6913 Jan 9 7753 Deo 27
5973 Feb
115 115 *113 116 *113 116 *113 11534 *113 116
20 • National Biscuit
115 115
9612 Jan 2 120 Sep 27
68 Jan
*121 125 *123 126 *123 125 *12313 125 *123 125 *123 125
Do pref
11812 Jan 11 130 Sep 21 102 Jan
254 2338 2514 4,430 Nat Enamel'g & Stamp'g 1258 Feb 24 304 Deo 14
2714 2714 *26
2578 25
28
2
25
26
712 Feb
*96 100
*US 10.) --------'95 100
*95 100
*95 100
Do pref
82 Jan 5 9912 Sep 2 170 FeO
11,350 National Lead
8813 8878 884 89
8013 8734 8612 8712 8613 8718 8412 87
7114 Fob 25 94 Aug 13
36 Feb
280
010958 11037 *110 112
Do ore!
116 110
110 110 *11014 11012 511014 11014
10234 Apr 21 11334 Aug 12
8712 Jan
96
9212 93
9234 9234 *92
9212 91
- 80 Feb 23 9714 Nov 9
931,3 9312 92
50 Jan
9112 1,010 New York Air
5,610 North American
82
*82
79
82
8113 82
83
Brake-8212 *81
814 83
Co. new 72 Jan 13 8712 J'ne 14
82
4218 hich
8,350 -311Dacific Mail
40
40
37
294 Feb 24 4813 Nov27
3914 3414 3634 3334 36
24 Apr
4112 41113 4112 42
146
413
925 2. acific Telep & Teleg- 4514 Nov10 64 Oct 4
*45
43
45
40
48
45
45
4314 44
45
11412 115
11313 11478 11313 114
11312 11378 11313 114
11234 11438 10,250 People's G L & 0 (Chic).. 10112 Jan 13 120 Aug 16
81) Jan
10314 1061. 10514 10534 10113 105
10334 10414 104 10434 10212 10312 8,400 Philadelphia Co (Pittsb'h) 9912 Deo 7 103 Dec 9
27
2714 2613 2714 2613 27
2513 2614 24
2514 2112 2514 10,500 Pittsburgh Coal CO
10 Apr 21 2933 Nov 0
813 Mch
82
8333 8334 28113 83
82
80
7912 75
5,000
78
79
81
Do pref
40 Feb 25 8712 Deo 28
3613 Feb
494 50
5013 61
51
50
4912 47
4914 49
48
4814 4,495 Pressed Steel Car
3012 Feb 23 56 Aug 3
1714 Feb
105 103 *105 107 *105 107 *105 107
*106 108 *100 103
100
Do pref
96 Feb 26 11134 Aug 11
89 Jan
0191 192 *190 192 *105 192
18814 190 *188 191
18912 18919
400 Pullman Company
160 Jan 30 200 Aug 6 147 Jan
353 338
358 358
312 312 *318 312
*358 378 *353 378
500 Quicksilver Mining.
938 J'iy 6
153 Jan 4
13 Apr
414 414 *4114 7
270
*44 7
414 414 *4
5
*414 13
Do prof
3 Moh29 10 May13
11, Jan
4914 4914 50
4812 4773 4814 2,500 Dauway Steel Spring.... 3212 Mch 8 5412 Aug 4
5014 4812 4914 482 4912 48
234 Feb
10613 10012
*104 10634 *105 10534 *105 10634 10634 10634 *106 107
200 I5* Do pref
9778 Feb 24 109 Aug 11
75 Jan
4334 441. 4234 44
*4412 45
4258 4314 4134 4334 14,900 Republic Iron es Steel
4434 45
1658 Feb 23 4013 Sep 29
1434 Feb
10314 103q 1034 10314 103 10314 102 10314 4,780
*10312 104
10332 104
Do pref
6718 Feb 24 11014 J'iy 28
63 4'03
*85
*80
85
87
83
8/
85
8514 85
85
745 Qloss-Sheffield Steel & Ir 63 Feb 23 9453 Oct 4
30 Jan
8234 83
118
0118 119 *117 110
118
119
*118
119
200 1.3 Do prof
11813 11813*118
10733 Feb 20 120 Sep 1
8712 Jan
*3834 3078 3834 39
3834 3834 38
3834 3734 38
3734 2,101 dTennesseeCopper Par$25 $3312 Oct 13 $49 Jan 4 $2513 Feb
37
8934 8912 891_ *89
*88
200 Texas Pacific Land Trust 8012 Feb 23 9373 J ly 10
8945 *88
88
8934 88
8934 *88
45 Feb
1212 1314 1314 134 *1173 13
600 1 rnion Bag & Paper
*1173 1278 1212 1212 *114 1314
4 Feb
914 Feb 24 1538 J'ne1.8
*73
7$
*73
7614 *73
*72
73
70
73
100 t•I Do pref
76
*70
75
68 Jan 8 8114 J'ne29
4473 Jan
*11913 12002 *11913 12012 *11913 12012 11912 11912 *119 12012 *119 12012
100 United Dry Goods Cos- 115 Oct '28 12512 Deo 2.
11258 11253 11234 11278 112 1121z 112 112
11233 11238 5112 11212 1,400
Do pref
x109 Sep 1 114 Deo 381
*3013 3112 3012 31
30/2 31
29
2912 29
2913 2938 1,893 U 8 Cast I Pipe & Foundr 2433 Feb 24 3512 J'ne 5
29
1/12 Feb
*8312 8412 84
84
8334 8378 48278 827g 8313 831$ 83
540
83
Do pref
70 Mch 2 8712 Aug 18
5638 Jan
122 122
123 145
13014 134
12912 131
125 125
125 12512 5,190 United States Express
82 Feb 10 5111 Deo 31
70 Feu
*82
84
*83
84
8314 8213 8212 82
83
81
82
8134 1,000 U S Realty & Improvem't 64 Feb 23 87 Sep 17
3614 Feb
*9
*9
12
*2
12
12
1014 1058 1034 1034
11
9
700 U S Reduction & Refining 10 Mch12 1712 J'ne li
4 Feb
32
*26
32
*26
*21
32
*2513 32
32
*2513 32
*26
Do prof
24 Feb 24 8912 Aug 11.
16 Feb
5114 5138 51
5158 4973 51
4813 4902 4712 4858 14618 4834 9,000 United States Rubber
2/ Feb 24 5758 Aug l'..,
1734 Feb
11614 11638 115 116'• 11512 110
11513 116
115 11534 c1124 11318 6,090
Do 1st pref
70 Feb
98 Jan 29 12313 Aug 21
*82
*8012 83
8233 82.7• 8212 821, 8213 8212 *8214 84
83
Do 2d prof
500
6712 Feb 25 .8911 Aug 2.,
42 Fel)
8773 8013 8714 89/3 8612 873i 80
88
8534 8714 8434 8712 1154,400 United States Steel
4114 Feb 23 9478 Oct 4
2334 Jan
1241.5 124,
, 121 1241 t 123 124
12318 12378 123 125
12234 12434 17,425
Do prof
107 Feb 23 131 Oct 4
8712 Jon
5934 60
5834 593
5812 5558 5712 5613 5714 5273 5612 31,350 dUtah Copper_ _Par $10 $3913 Feb 29 $8711 Nov2,., 520 Jan
57
5413 594 5614 57•73 541
5433 5678 554 5614 5413 5634 133,750 Virglnla-CarolinaChem_
57
4073 Feb 24 5638 Dec 25\
16 Feb
127 12814 12814 12814 124 123
128 126
127 12712 127 127
Do pre(
1.000
114 Jan 19 128 Dec 27 287 Jan
71
71 *70 73
73
*7112 7312 *72
74
73
69
70
400 Virginia Iron Coal & Coke 57 Feb 23 7573 Sep 17
43 Jan
*22
__ __
__ *21
27
*22
27
2612
..,- Vulcan Detinning
3 Alch
3
0 Feb 1 3714 Nov
*80
84
88
*78
----------------585 -8.5
*7613 78
25
Do pref
25 Apr
45 Jan 30 9134 Nov 3
*170 190 *170 190
170 1-9-0 1190 190 *170 186 *175 186
40 Wells Fargo & Co
300 Jan 55070 Deo 23 12:1 Feb
7634 7634 7614 7613 7513 76
7514 7534 751s 7533 7412 754 3,253 3 r estern Union Telex
61 Feb 21 8514 Nov 16
41 Feb
8113 8153 81
8112 7873 8114 7734 7914 7614 7814 74
78
17.000 'Westingh'seEl&hlfg assen 71 Feb 24 90 Aug 7
33 hfch
*120 13114 *1211 13114 *120 1311.5 12814 12811 *120 13114 *120 135
900
Do 1st pref
11' hich 3 145 Sep 30
58 Mch
71
Highest.
52() Aug
1638 Deo
5234 Deo
8838 Nov
35 Nov
90 Nov
2178 Apr
8134 Deo
1014 Nov
7673 Nov
5034 Deo
109 Deo
4414 Nov
07 Nov
5221 May
812 Deo
3734 Deo
314 Aug
1712 Deo
3014 Deo
5053 Aug
113 Deo
858 Sep
5118 Sep
3113 Aug
107 Aug
1103s Aug
200 Apr
9712 Sep
41 Nov
13734 Aug
131 Nov
13253 Nov
9713 J'iy
3233 Deo
97 Nov
$5312 Nov
2714 Nov
57 Nov
15214 NOV
525 Jan
33 Deo
102 Deo
42 Deo
2713 Deo
44o Apr
167 Deo
2012 Aug
80 Aug
4814 Oct
3834 Deo
94 Aug
89 Nov
10234 Dee
10912 J'IY
0758 Nov
11014 Nov
0 May
2673 Deo
1314 Nov
65 Jan
3978 Deo
8414 Deo
78 Nov
7134 Nov
97 Dec
12013 Deo
1514 Deo
28214 Deo
92 Aug
10614 Nov
98 Nov
78 Nov
4014 Deo
10612 Dec
1453 Dec
50 Deo
45 Deo
10214 Deo
174 Nov
134 Dec
312 Deo
4914 Dec
103 Deo
29 Nov
8913 Nov
8134 Nov
11014 Dec
45214 Nov
8112 Deo
958 Nov
6634 Nov
3078 Deo
784 Alig
90 Jan
61 Nov
1511 Aug
39 Aug
3712 Aug
108 Deo
7512 Nov
5834 Not
11458 Nov
$5234 No9
4534 Dee
115 Nov
68 Not
1012 Nov
5012 Deo
325 Nov
7134 Nov
91 Nov
125 Nov
BANKS AND TRUST COMPANIES-BANKERS' QUOTATIONS.
Banks
nod Ask
Trust Co's Bid Ask
Bid Ask
Banks
Trust Co's Bid Ask
Trust Co's Bid Ask Trust Co's Bid Ask
Brooklyn
N Y City
Brooklyn
Guar'ty Tr_ 990
NY Life&Tr 1(90 1110
Brooklyn
- Borough 11Carnegie
North Side IT 160 100
100
__ 160
Guardian Tr 170
Y Trust_
010 Brooklyn Tr 423
'Broad way 9 375 425 People's __ _ 153
Central Tr_ 1015
Hudson
_ 175
Citizens'
Standard 'jr 41141"
138
117i'Brooklyn 0_
Columbia.._ 1326
146 Prosp'ctPk, 150
gt;
Knickerb'kr 340
Flatbush
TitleGu& Tr 575
200 225
'First
294)
'Terminal 9.
130 Commercial 120 130 Law T I&Tr 1310
Franklin_
215
of
Tr
Am
Co
3
07
230
350
•• Hiliside'll _ 110 13) Union
100 Com'wealth 150
Lincoln Tr.. 150
lianditon
Union Trust 1375
200 270
- Home 13101_ 110 125
Empire
_ 300 310 Manhattan 390
Home
4749
115
US Mtg& Tr 480
Homestead% 100
125
EquIt'bie Tr 500
Trust Co's
Mercantile. 740
Kings Co
11260
States..
Unit
500
'Manufac'rs' 415
Farm Lo&T 1850 1375
N Y City
hietropolyn 533
254) L. 1st L & Tr 310
Van Norden 235
'Mechanics '11 243 iEd Astor
Fidelity
200 210
380 400
Morton Tr_ 575
Washington 36334
Nassau
150
Montauk
140
150 Bankers' Tr 090 710 Fifth Av Tr 1425 1435
Mutual ...... 13)
Westchester 130
People's
300
240 270 B'way Tr.... 148
• Nassau
Fulton
135
290
Mut All'um 130
Windsor _ 133
al" Queens Co.. 115 125 J
295
Nat City
305
Williamsb'g 80
103
.131d and asked_ prices: no sales on this day. 4 Less than 100 shares. Ex-r ghts. 0 New stock. c Ex div and rights. 4 Now q ilted dollars
3 Sale at Stock Exchange or at auction this week. s Trust company certificates. %Banks marked with a paragraph (1) are State banks. per share.
95"
New York Stook Exchange—Bond Record, Friday, Weekly and Yearly
/me 1 1909, tho liteoliange method of quoting bonds was Mongol, aind gridss are nolo a1--"art2 interest"--ezupt for $4431144 and defaulted bonds.
Rang.
Week's
Pries
%.2
14.er, RangeBONDS
Week's
N.Y. STOCK EXCHANGE
Sear
Range or
,
I ridaq
Year
Range or
lUuti
Last .ale
Jan.14
WEISE KNDINO JAN 14
Hats FtiZi
Last
J
litylt' A'o Low high
Ask Low
Bid
Bid
Bigh No'Low _High e•Ilt, of Oa Rit—(Con)
Ask Low
O. r.. i.ovi,rameni
3d prof income g Le ittampe3.! _ .:
U is 2s mongol ropetered.d1930 -1 100N 10i% Lot ,-, Deci.)0 ...., WON Itrl%
Chat% Inv pur Mail g 43.1951 . J -D
834" 9
100', 103
sS
8,41316
NeV:(1)111!-:::.1 1,,'''S 82',i:
100',Oct'09
U32s oonsol coupou....t41930 •J 100%
10442'ne81
Mao & Nor Div 1st g 58.1946 J -1 1054
l/ . '
101 103%
k11.113 -le 101% 1014 1014 Nov'09.
U 8 3s registered
115 Nov'051 .1
Mid Gs& AU Div fis _1947 J-1 DM
k1918 -ii 101% 102', 10134J:111'10.. 100% 10214
41 8 3e ooupon
Jan
1 110 4 1104
'101
Div
110
Mobile
letgfe
1946
2-2
1034
1004Nov'08
4-i
bonds..k1918
3econ*ean
U S
106 104 14 Deu'uv ....1 104 105
1925 - F 11414115'- 115.4 Jan'10. .114% 1194 Oen RR ere B of Oa col g be 1937 11,4-N *
11 8 4is registered
Cent of N J gen% gold 66.1987 J -1 1264 awe 124 12 15', 35 12114 129%
116 121
1925 -F 114.4 11534 116 Jan '10
(IS 48 coupon
124 1,4
3 124 1274
124
Registered
41987
124
101 1014
11 8 Pan Can 10-30 yr 2s.k1936 9-N 100 101 101 Diar'in)
Alla Dock & Imp gu 52..1921 Y.3
.1 1084109 108 4 Oct '09 __lit/841104
Le & Had It gen guges 1920 J -4 100
Foreign 14overnitient
Leh do Wilke 19 Coal 68..1912 M-N 101
1)94 Dee'01)....I 99% 101
99
15 95
96
964 95%
Argentine—Internal 6s of 1909 11-8 t DO
C011 *et guar 4128...J1910 Q-M 100%
10014 100',11 99% 1004
Imperial Japanese
N Y & Long Br gen g-ts 11341 n-s WO
1925e-A 4 9514 Salt 96%
954 45 90% 9534
Sterling loan 44s Governing.1
I/134 22 8914 944 Cent Pacido Se* se Pacthe Co
11125 J • J t 94% Sale 944
2ti series 4123
89
89 Oct '1)9 ...., 804 90%
88% 12 11034 314% CentVerrnent 1st gu 94...102U el-F
1931 J.,7 $ 8314 86 14 834
Sterling loan 43
12 101% 10412 Chas & say See All Coast Line
103
s
Ia.
103
104
410314
exten
Is
debt..
itepub of Cuba
14 Jan'10 ....I 10141034
1%
101
0505
101
A-0
al911
Sc
gold
Oltio
904
1192
96% 14
964
San Paulo(Braaili trust 661919 4,1 I 96% 97
98%
9s
103'2 03 10041054
ii 97 1.1014
Gen funding & impt 58.1029, J -J 106 Sale lUb
U 8 of Mexico a I g Li or 181111 4-1 4 93 4
141 9214 95
Ni-N
151
114
1939t
113's
944
4.!112 117
119%
g
oonsol
be
i'4',
94%
-D
944
J
1864
Gold 4s of 1904
1931),M-N 112% 11341124Jan'10 —.111341144
Registered
$2 Itese ors pr ets o ti tits b am oi $5 to S.
111921M-3 102% 35le 102% it:34 64 102% (013%
General gold 412e.
Mate and City Securities
,
105 Apr 'tJtf . 1105
103
Registered
..
110 Nov'08
110
u...
Unit of Colnnibia 3-058....1924 F- A
4tM
19911
194
"844 83 Deo'09.... 87% 91
8 *1U
-D
Big Sandy 1st 43
1.
10512 Deo'04
Louisiana new consol 18..1011 J -J
•110 M ay'Oil .... 1074110%
Craig Valley let g .5s....11)40i J -J 107
New York City—
104
110 JAI!'09 ...„ 90
90
Potts Creek Br 1st 46..19484-J
1004 119 99% 1014
1969 M-N 100 Sale 100
4% Corporate Stock
974 68 Jan'10 .... 116 1004
It & A Div list con g 4e..19891.1•J
. 100% 160 100 103
. 4., Corporate atock ....11)58' 31-N 100 ?Atilt 1001
' ,.... IA
1(4
Se
93
112%
.1-3
20 conol
1989
s g 46
07
11,51 M.N 1094 sale 1u9', 1094 42 10814
Nevr 4',3
1134 it eti'05.
Warm Spr Via 1st g bs..1941,M-13 106
103% Deo'09 ... 102% 1044
1,17 31-N
New 4 4is
1124
944 Nor'011 1.... 1144 1)44
Greenbrier Ity 1st gu g Is'401 M-N
44% Corporate Stock 11/57 MN 10914 Sale 109 4 10914 30;103% 1044
75% Jan '10 .... 74% 80
d 8's 76
Clue & Alt RR ref g 3e...1949 A-0
103% Deo'u9 ... :103
4 12% assemernt bowie.._.A:117 M-5 103.4
103,
IOU
744
1-4
754
38
74'
6 134 77
3124...11160
Rai/vial/
lien
75
1st
101)%
le0
1004
4% Corporate 0docg....11157 M-N
112% 113%
Regustered
113% J'ne'00
N Y State—Highway 48..1958 M-8
100
103', 1024 Ohio Burl& 4—loony Dis
2
103,
102,4 Jan '09
,..o Carolina 4',s20-40
"J -.)
19
1(3
06.4
1(5', Nov't)9
Illinois Div 312,
054
i enn new settlement ttit...11.113 J -.1
91 12 93
ti i:'
Itegistered.............11.10
91
93 A.ug'01)
94
,/ Irginla thud (taut 2.33-1991 J -J
:I' 100 1004 100
3°4 Le5'"
.....'44'
Ills
15
100%
61
b3
'I
fm)
374
1034
4/3
"
,
li'
Div
60
..
Salt,
....
Oda.
Mos
Drown
deferred
es
1084 Oct '01/ ....I 1035
gs
iiiiv
akD
loswin
1244
t,
.1084
frd 5s..11)19 A-0 104%
de..
'Ai% 4 1(9', 101%
9914 100
11419 A-0
Ittillrotti.
99',*le
ill)', 100
13 ((914104',
IN obranka e..1xteneion 4s 1027 M-N
i la0ittlili, Cent bee So Ity
Registered
("Juba Midi see At Coast Line
99%
9:
)°
Ieaor:i)
)
I
:
:
1:1'
: 1n 1s '
'1tii:11/:
I.t))0
N
-S
1
6
31.
1;
Southwestern Div 4s.. 11321 51
Albany & 81180 bee Ids1 dt Hutt
Joint bonds Bee Great North
Valley see Penn RR
0v
1v
1,0,14
e 9
Su
%
.
1
9 341
14
03
1,
11,4361,3
be
Debenture
klieg & West See Bull it & P
01)
sale
78% 10 77% 57%
M-8
General 4s
73
7734 79
ADM/ 4-,/
tun Arbor 1st g 4a
1
Ran 44 81..10110001M1 OS-1911 51-8 101 14 1024,101.4 Jan •10 .... 111134 10334
210 99% 101 ,
k tell T do 8 k'e—Gen g 48.11)1)5 A-0 1004 Sale 1004 101
90
t•o% 2/ 85
2 98% 101 14 0/110& A 111 ref & Imp g 481055 1 -2 11
s 864 80
,4
53
82
100
100
1995 A-0
Regietered
Iii34 A.0 125 12841211 Den'09 .... 128 137
14 92
95
let consul g 6*
1164
64.'4 sale
94%
41995 Nov
Adjustment g 4s
i
A
J
112
4
3
1
9
41134
ssz:u
d
0
‘
1
1
........
4
General
,4
43
15
1
4
1s
2
4
921
1
9414
....
M-N
aORA14)11st
fis....1937
2413'10
92
Alin)b Nov
Registered
Rogistared
924 96 12
04% 1
944
94% Sale
Stamped
/11995 M-N
N
-J
J14
Ohio
7
6
122
&
Nov')i)
3
0
913
lnd
lit
lty
641
4
119
112',
121)4121
1.1)
1000...1955
of
Issue
43
Cony
1ii 1.1)2 4 123 12 Chicago & Erie See Erie
1.
1,56 g.D 11834 ,itie 118% 1224.
Uonv g 48
6
18
12
D o
17 1
2
"
18% :
"
12
11
... 1
U : -....
T:O
.84
12
1017!4.1i us-1 Sale 118% 121% 38 10534 123% Chin In& Lomas'ref 68. .1947 J -J.
[0-year cony g 5is
1114 Les'us .... 1124114%
U7
Sep
Refunding potties
1947 J -1 *114
'0'..f
11114 IPJ 74
00%
Oeuelitureos 44 Series11.11)10. F-A
" N A & Ch 1st 68.1910 J -1 100 1004,10u4 Nov'oy .... 10041024
Lotus,
684 Deo'iii1.... 984 10812
914
1013 F-A
Series K
Chic Ind & Sou 50-yr 4s..1060 J-J ' 0-14 IA 41 04 Dee'00 ---- 93% U5 4
0741 97 rien 'UV .... 07
91)
WI
Karst Okla Div 1st g 48..1028 M-8
94 12 tiaig
944
94 4 0 93% 964 chat Au 94, 86 It 44,,,, go, 11,14 4.J IS 106 12 11)3 Jan'10 . 10414105',
mg 3 -4
-Short Line let 48 g
General g 4* series A..elliiiii J -J LOU', 3410 1100
a"'b "$ji lliii
• 104%
• C e Pres & Ph let g 69.11)421M-8 1094 110 4 1104 Oct '00 .... 1104113
1 .
Regletered
1
4. il Knox Al ZI Sea L & N
i
9
1:..:
94
81 18
213
97%
344
9
9'
1)
49
9514
:=&13.0110
‘
.1 .
3 • .1 136
4
90
0234
Generale 3123 series 1.1.6
Sale
4
013
e= Y:j
s tiantio coast 1st g 48.A11152 51. 13
9.3
'09
Sep
109 Ill
25-yr deben 4s ...... —.1934 J -1
109
eht 3liti let gu gold 03..11128 3I-N 1U7
1 Oct
31
08
19
9
6' 19
t;:i .Y..
j
'
0V:1(134
964 964
984 J'.110)11
let
Chic & 1,8u Drr g 6s....1921 J -J
,
Bruns & W lat gu g 48 _1938 J-1
110% Dee'vn .... 111)14 1134
Olio & Pilo Riv Div be...11)26 J -J 1
14
"
Charles & Sav 1st g 75_11)30 J -1 134%
93 3an, 93
95 162 86 1014
103 Novvio .... iul'4 103
Chia & Pao DIT de
011152 31-N
L do N eon g 4s
108%1094
2 108 1104
J'ne'01)
1084 10114
124
127
Chlo
127
&
W
P
g
let
12
be
1
9
"
1
,
125
A-0
65-1931
gold
1st
NV
6'&
iitv
Dak do tit 8o g Is
194`'s Aug'06 ,... BA% 10510
1114114
1916 j4 104
00
'
1934 A-0 112 114 1124-1'13,
1st gold Sc
Far cto Sou aeusu g 6a
974
91
410 100
)'itt J'ne'l)i)
"[19
1924
81113p Oca &(1 gu g 4s _1918 J -J
10u
N'o
4j
'2
3-11
lYv:0
9'1; .... 100 10284
Rest & I)Div 1st 7s
1910 .114.-1j
ttliuitio elb Danv see South Ity
107 101
....... 1
let 5e
1910 J -1
kustiu & N W Seebou eaciilu
107 luseir
1.* Leutv i,,
)
(
95
93
01).. 0
LaCrosse
92% 2
1let
924 9214
92
07
Dalt& Ohio prior 1g 348.11125 J -J
Mineral
el
&
P
npt
.,,
93
'09
:
g
:
Oct
v
91%
:11:1
:
:
904
j
1
1
)
.1
1
j
i
,
4
,
1
/
.
0
°
°
0
1
pr',
41925 4-1
CP Registered
So Minn Div lit tie
LW 4 Sale 984
994 13 VS% 101%
Gold 48
Lis.. sat. us
9814 3 97410014
Wis & Minn Div gee..
//!ILI 9
Registered
A:JO
110
1
090
.D
°"1
A1je
c 'lUjV t.uut ":. :::::: 1t1:
ei
1/ 10
906
Mil & No let 31 L tie. 1910
Oct '01
191
1:
Pitt* J two let gold 6a...11122 J -J
lUb's•No`l'ou ..•.•!WON 107%
1st consol Os
88
894
894 884 Nev'Ml
PJ tui & 51 Dtv lat g 34$11026.31•N
2'6 114 113 Jan '10 ..... 1u
11304 1 1
1 15
chic& Northw cons 7s....1
22 9214 98
93
924
08
9414 V3
14
4:1F? (
3 .4
016
191
e L ii: Sii W Vii Sys ref 4811141 31-N
i19:1:4
13 31.1
2.4
1004 11)1
en
te
en
Ee
G
911
siognoi4
901., 132 89
rai
- A 10:
as3,24 1886.1920 e'.
90% Ou 4
itt)
ioutliw Div let g 31.3.s. .1025 J -J
ti
•U
.ly:
l:41
uiff
Ill
el
91
Registered
yi Apr'01)
;pi 6
.
18.813-itTli 11
/1110283 4-1
.
1)94
Registered
we
b9 12
89'2.
...1
1:1 v4 4. ,
.
103 103
103 J'uti'00
s,..
Oen Ohio 11 151 o g 4414..1030 u-S 103
111041133,
Itegietereil
112% 113 Out 1/11
Oi Ler & W con 1st g Os 1933 A•0
,i ::•
I ' t •.•• 112 112
L
inv. Fee'01
ir Ili%
SInking fund 6s...1879A--O
89
97
2)192
douon ltiv let gii g 36..11.119 F-A 101
u ........... t10
ue
"u
,
o;‘
,009
9:4 1 1
14. Iiu „, ILI!:.1i0
i:
A:g, 10
(1 k
:
0
112 1134
,, A
,
,
in
sittv
retid 5....102,
flulun
Ohio River ItIt let g 68.1930 4-1) 112 114 112 Deo'09
It/84112
1931 A-0 1064 110% 112 Nov'05
General gold 53
v ::::: 1:
p:u
:cu
0
,
7
00%
u
10
:
10
0%1
1 194 Mai'04
7.10
07
Registered
A.--; 1:10
2;I
1879-1;
Pitts Clay &Tot let g tie 11)22 A-0 1104
148.2
lit14
1141
ug4Sep '1)11
Debenture Os
191/1) M-N
Pitte & West 1st g 48-1917 J -2
O1i;
y'0
a6
j1u
43
91'4
100%100%
1.10
19
Registered
1ln) Nov'04
eltat lel ity 1st gu g412ti 11143 J -I)
Debenture Os
Beech Creek See IN I U & IL
Registered
A-0
1921
ilellev & Car see Illinois Cent
:...
i
ii
v
o
'
dd d.b 5.
u
sa
1933 r.4.2g. 11U 1(414110
:
luil.1134
81.13ttilft=
;
1
4
13
8klyn & blontauk See Long I
Bruns & West see ALL Coast L
1.0
:1
U
E1
,:
"0,
i
l;:
e
v
,
)
:
A:
,::,
11
)
132
0
:
:
.:
11 :
1
:
tu
it
lul
:
1
.
'
1 1
9V
113
14
8
iM
h
063
101
u
1
1
1:I
j
9
NorthIllinois
0
let
1
53....1
kluilalo N Y & Erie Se* Lilo
g 111 14 119%
1 Lliaig 116%
11414117%
Mil LIS& West 1st gi,le 1921 M-3
Bullet° It & P gen g os...1037 31•S 11334 1154 1154 De0909
10e
11014
iu
Net
-A
F
10
11)29
4
&
Imp
gee
*rued
10/
M-N
lull
1457
1094
Consol 4 1ge
101) 1024
Ashland Div let g 68..1925 M-3
14)
lo24 Duo'00
All & Weim 15(31 48 gu..11)08 A-U
2..s,
1t
8 Ap
1....
21
4:
1 '
u;
1.; i.8.4i. 1
,10
29.1,
161
4 .t1.111
14
2;
2:1
J 1:9
34
Mich Div ling Os
i.:
h4- N
4 .1.
11
92
,
1
01 go Malt 1st gil g Ie....1043 J -1 !le
i 11s t034 J'I-Y'
:
°13
lul
1101,111)
Deo'01)
Incomes
le
Roan & Pitts let g tis...1921 F-A
11814 1214 Chlo
ult
uiteireeld& Pao 6s...11117 J - j 112
oc
1922 1.0 116 11914 1204 Aug'09
eg
Consul let g 0s
614 at)
•...
1917 J -J
8814 1(1-., Nov111.1
Bun & Sung 1st rot g 4s.d11)31 1 -.I
General gold 48
Bur C It & N ,8ee C It 115 I' 1
b r1 12::
07,....
!
1
'
9
Li '4 Aug
U1
1988 4•1
9 44 "is '
Registered
13. 19104 107
./6
)
(
4 -J ' :
14/88
en .11
0
i Ian 8o 1st eitL133 ........113131.1-1 101% Sal* 1(
91%
0 ill bale 91
11 ,10012 103
Refunding g 43
11113 51-13 101%
k•-i2t1 63
••..•.......
...•
'04
J'ly
97
......
Coll
01%
trust
N
l
Sley'l)7
i
f
Serie:ill
43 _Mt
1913 M.
10041014 It/034
iteguitered
Ill
117
J 45
1); 4
1912 M-N
I
Carb & 811awn See Ill Cent
Mae
914 94%
04%
11)15 M-N
Carolina Cent See Scab Air L
43
N
tiartliage& Ad see N I t; di 1
1)
n
:
f,
u
:
:
:
:
4
,
21
t
0 4o
t.:eti It la k do N See 13C It&.
19"64- N
34 'sj uji. 04,a A u g'vI# .. 63
u-:4
19
1 19
11:
1' 4s
- i
14
1.
02
4
8 M!N
1 1117
1
L'en Brancii lty bee Me Pao
tit bale ei
Chit, It I ao Pao Itlt 43..2002 31:14
824 34
.6 13's 85
1164 Feb'09 .... 115 1164
Cent oh Us it It 1st g os..p11)45 F-A 113
Registered
t30
80
2002 II N
1945 51-14 1084101) 10934 1084 14 107%111%
Couisol gold iis
g ..84'
'
..1g j'in
59
1t)h% 8aie 10
Coll trust gold 155
113 Apr'Ott ... ......
Registered
11/45 M-N
Bur Cell It de Northernin 4
8 I 79
88
1913 41-8
88
87
let prof income g 58....p1045 Oct
115 117
9012
Con 1st do col tr g 5*...1934 A-0 1144115 115 blay'ilit
89 Deo'09 .... I SU
87
Stumped
l'L.0 la Mar'03
b314
ReaLstereti
4 , 63
87 4
844 83%
In pret income g 6d....p194.5 Oct
1
111 Nov't)5
87
CRI 'do N W lstgu 6311)
11 60
83%
A -0 108
1 A
24
93
844 83%
2(1 pi et income g be stamped
51 do St List gu g 74.1027 J -1)
53_83
....I......
354 De04)1)....1
B.
85
Su prat income g be....p12145 t)ct * bU
BONDS
N. T. STOCK 111XCHANGIC
WICRIL PIDINn Jfot 14
V2,1
Pries
Irulay
Jails 14
el,,,,
,,,,,,
...
1.,,,,
ii-7.17 %
i )::.120,3 .i.:-:4 iv,,..,.
i,
4.- D.
...W.,(1 '
111::J.:eiulog,e'40),,04
g
MISCELLANEOUS BONDS—Continued en Next Page:
----- ----Street Railway
Street Hallway
3 102%108
78% Sale
Bet St My gel col tr g 54 1991 F-A
Brooklyn hap 'Pr g Os
1941 A•C
104% 104% 1014
7rs
6
64 8alc
200'2 A-u
2%
93
7
74 0
43
7
Ref g 48
5134
let retund cony g
86% 439 81% 89%
86
J -J
85 Sate
102 103 1014 1u1 ,-, 3, 101 1064
liway&?WAY late Veto 1943
1 102%105
iikCIly let con os.1916.1941 J -J 103 106 103% 10314
sale
12
101
994
Uil
101
g
gu
Cola
1st
102
Av
Uth
61 100 1024
Marie'
Bic ci Code 8 con gu g 58.1941 eti-N
4
••••
99 Sale 99
011
1 4 1024
26 9
Lex Ay & P F let gug 3s1111(3 Al•S
27 OW., 100
iiklyn tin El let g 4-53.1960 F -A 102 12 Sale 1.024 103
oa
Third Ave It it con gu 4s 2000 J -J
69
P. 85.4 724
Steinpett guar 4-5s
1950 F-A 102 4
103 Deo'00 • •• 10212 104 4
(iii Sale
Cent Tr Co certfs stmptt...
hinge Co El let g 48
1946 if• A
894 80
((5 Jan '10 •... 844 87%
4
4
163
036
68
614 17
67',1.1 12 Dec
Third Ave My 1st g 5,1 1931
6 1'
844 88
. itf.3
35
.
.
,
,lampett guar 4s
1941- F.A
854
('4'-., Sale 844
81
N Ori Ity & Lt gen 4..38 —1935 1(714 87
814 21 784 81
Eleu git g 43
7114 82
11)51 J
Hi',
138 Nov
708
'
s
8616 37
102 102% St Jell fly Lt 11 & P 1st g 53'3, 3I-N 1004
Lunn ity& List& ref g 448'51 J•1
102% Novni.
ltei 110 107% 1)ee'09
107 4 107•17$
10134 102% -4 Paul City Cali cola g 5c11931
8tamped guar 4 48
l01% Dec'01,
1951 44 1014
974 97% 99
99
901
'ly
Trt-City My &.Lt late I 58.1923 A-0
bet United 1st con g 4123.191P. J•J
834 Oct '00 •..• 81 44 85
82
101
98
98 Apr'ut;
ndergrounti of Lon os 1026 51-N
93,
Havana Elee cuusol g 63.1952. F -A
94
93
1)3
1,3
113
2 69
Co Sale
11,3.4 4-4
85
10 734 8114
85
limIer 3let colt 4',a
85
44s
834 s156 70
824
A-1) 02% Sale
334 881e
11148
374
inter !tap TI yi cony 63.1911 MN 10J"4 sale 10334 101
3314 Ic 21
I ncome tis
,
Iti 10241043
91114
84 Oct '08 .
45-year 65 Series A
103% 217 1014103% Union El(Chic) lot g 5s 1943 AA;
105.4 MN boJ Sale 103
J
•
J
1934
40
- Internat i'teo Coil hr 48 1941 J -4
g
82
let
L
Dec'10
92
....
36"
St
Ry8
(Tinted
72%
'ON
Sep
70
70
•
721,
74
Manila Klee let & c01168 19f4 A4-8
2
laseuti
79
7%
United 1114e San Fret0 1927 A-0 734 73' 74
....
_
—
•No piles Friday: latest tale wssit. 51Flat. aDus San 4 Due Apr *Doe May :Due me hDusJly lc—Due Aug e Das Oct p 1)-1.14 Nov sOption Saki,
156
' BONDS
A.T.STOCK EXOHANGE
Witmt ENDING TAN 14
New York Bond Record-Continued-Page 2
Price
Friday
Jan 14
I
Range
Year
1909
Week's
Range or
Last Sale
BONDS
N. Y. STOCK EXCHANGE
Wegg Expose JAN 14
ii!
1•,. t;
,
-744
[VOL. LX.XXX;
Price
Friday
Jan 14
Week's
Range or
Last Sala
;2
Range
Year
1909
MO No Low -High Erie-(Con)
Aid
High .No Low
Eta
Ohio Rock 1 & Pao-(Oeis)
.4els. Low
Ask Low
WS
103 108
N 7 34 Green L gu g 55.1946 M-N 102%
108 Mar'09
Oboe Ok & G gen g 65.01919 3.3 102 108 102 Ang'US
10614 107%
Y Sus & W 1st ref 65 1
Censel gold 54
111 liti;
,
93
37 .J.J 104 107 104% Jan'10
1962 M-N 1004 111% Ill 4 Aug'08
Keok & Des M let5
2d gold 5128
103 106
F-A
1004 Dec.09
106 Nov'09
1923 A-0 102%
Chia St L& N 0 See /11(lent
03 • al 894 92
General gold 56
1940 F-A 93 bate 90
Ohio St L& Pitts BaisPenne°
Termlnallst gold 5
1943 M-N 110 114 1144 Dec'08
Regis 56,000 each 1943 M-N
tnile St P & 0 eon 85-1930 J-D 127% 127% 1274 12714 2 126% 13074
93 Dee!03
Mid RR of N J lst g 65 1910 A-0 101 1014 100% Jan'10
100% 1024
Cone es reduced to 3%5.1930 J-D 90%
127 Nov'09
127 129%
101 196%
Wilk & Ral.tgug6s 1942 J-D
-.106 10512 Nov'09
Oh St P & Minn 1st g135 1918 M-N 120
129% May'OP
129%129% • & Ind 1st con gn g 04_1929 .14 Ida
114 Oct'09
10912116
Nor Wisconsin lit 6s 1930 3-3 126
114% Dec'08
114 119
Erie & Pitts See Penn Oe
St P & (My let g 6
1911.1 A-0 114%
1104 112% Events & T H 1st cons 08 1921 1124 115 115 De0'09
109% 11012 Deo'09
112 116%
Clue& WestInd gen gi3.q1932
92% 2 9234 98
92% 94
92%
1st general gold 66
Comet 60•year 43
1952 J J
1942 A-0 101 102 1004 Dee'011
10012104',
114 A pr'05
Mt Vernon let gold 81_1928 A-0
°hie & W Mioh ass Pere Marq
95 J'ne'02
Still Co Branch let g 54,1930 A-0
Choo0& Quit Sea CRI&P
Oct
'00
113
OinLL&D 2d gold 412
Largo&So Lies Ch -hi & St l'
1937 J.J
10712 Jan'10
96 1094 12 lint& Pere DI See Pere Mar
Cin D & 1 lat gI2 g5s.„•1941 M-N 107%
C Find & Ft W lst gn 46 g.'23 M.N
Fla C& Penin See SeaAlrI4n,
87
11 .87. 118
87
105 Marin
Ctnl& W 1st gag 45.105 .1-3 87
Fort St U D Co 1st g 412.5.1941
89%
105
2 91312105
105
.85.. 841
88 Nov'09
•
Ind Dee & W let g 66 1935 J-4 106
W (lb Rio(ir let g 4s 1928 J-3
ST
10712Dee'02
1 al Har & A 864SoPac Co
lstguar gold be
1935 J-J
97
99
97 J'13°09
Oral H de H of1882let 58.1913 A-0
OIStL&O 62.000.1 bit!.
01n91&(1 694/00013%.1,
Georgia & Aid See Sea A Line
Clearfield & Idah See .R &P
Ga Car.6 Nor See Sea A Luis
98 96 Jan'10
95% 994 Georgia Paoitio See So by
Clev
C& St L gen g 481993 J -D
964 9414 Aug'011
Cairo Div let gold 45-.1939 J-3 94
8111a G & Nor 844 So ka43 Co
944 97
944 944 944
94 95 (Pony d, Oswegat See N Y Cent
W&Ci
M Div lat g 46.1991 3-3
94, Dee'09
95
St L Div lit col tr g4s 1990 61-N
94
97% Grand Rap S.Ind bee Penn RR
91 Oct '07
......
Registered
Gray's Pt Term See St LS W
1990 M-N • 93
96% 95 Dee'09 •••• 96 96
97
571
Gt Nor-C B& Q con tr 46 1921 3.4 98% Sale 06%
Spr & Col Div let g 4s 1940 -8 •
98 Sop'08 •••
95
9612 97
964 98% 29 in !
P
I
Reg1stered.ts
W W Val Div lst-g 46 1940 J•J
1921 Q-J
,Deo 011 .••• 10:3%104
1037
St Panl M.& Man 45
1933 .7•J 100
0 1 St L & consol 66_1920 121-N 104'2
J.
J
98
984
4
1278
2
984
180
1233
4
Jan
'10
09%
let oonsol gold (36
9812100
128 132%
lit gold 46
1933
k11138 3-11
98 Ang.4)1)
98
98%
132 Apr.09
132 133
Registered
. Registered
k1936 -F 98
1933 7.3 126%
1094Sep'09
10912109'.
Reduced to gold 41as 19t10 7-3 1074 1074 1074 107'. 2 106 111
Oin & CI e,on let g 56-19a8 -J 108
1024 Dec.011
10834 J'ne'09
10884 108%
10912111'.
Registered
O (3 & 1 cons&Is
1914 J-D 1094
19'33 3-Ill
Dakota ext gold-0s
Consolsink fundls
1914 J-D
1910 11-N 101 10112 10134 10134 8 101%1034
119
125 126
8 9734 101
Mont eat latgold 4 1907 J-D 99 gate 1i812
General consul gold(36 1934 J-J 126 125% 125 Nov'09
Registered
4 9841004 Oot'06
Registered
1934 .1-3
1937 J-D 98,
94. 3'17'OS
K Minn NorDivletg 4.1
69% On'10
Ind RI & W let prei 46 1940 A-0
1181210111
1948
7 A-0
Minn Union let g 88-1922 7.4 114
117 117
0 Ind & W let pi 66...i/1938 Q J
113 Jan'10
924
92%
01
96%
12774 1.80
Jman
.e
Mont C'1st gag 8
.0
19 132%
Peo & East let con 4a 1940 A-0 9214
10
0
11
.
1937
07
43 40
67%
Income 4.
1990 Apr 65 Sale 66
181512
Registered
1937 7-3
Clev & Marietta bee Penn AIR
let guar gold Si
1937 I.J 118 114¼113¼001'09,_.11312H7
110 J'ne.4)1)
Clev & Pitts See Penn Co
& S JP let gold 5s 1938 J-D 113%
110 11834
80% 81
81
80%
18 80
8712 Greenbrier fly See Ches & Q
1947 J J
Col Midland let g 4s
961
/
4 UkPv 96'1
21 964 99
94% Ian'1 .... 95
Colored)& Sou let g 4e 1929 F•A
97's
GuLt&Sllatret&tgoe 61952 7-3 9$
98 116 993, 10014
Rotund & ext 4126
1935 M-N 9734 Sale 974
an & St Jo Seto CB& Q
6 /13 117%
Ft W & Den 1st g 6 1921 J•D 11312 Sale 113% 114
oasatonio Ses NYNH.45 H.
102
102
2 10212 100
Colum & Greenv Bee so by
Hook Val letconsolg4125 1999 3-4 102%10234
100% Sep.0
Registered
Col & /sock Vat Se4 Hook Val
191/9 3-3
9834 Alay'09
98
Col d, IL V lat ext g 46_1948 A-0
!Zs 98%
Col d6 Tol See Hock Val
99141145'09
99
Col & Tol let ex 4s
.••• 97 994
(.101 Conn & Term Bee &W
1955 1r-A 97
Roust itS. W Tex See So Pac
Conn & Pas .ktive let g 418.1043 A-0
95 Jan.09
96
95
lionst Tex Oen See SoPao Co
Cuba RR let 50-yr 5 g
1952 J•J
107
6%
34 Jan'10
A0r07
101132
1011%108
I ninon; Central lat g 4.-1951
ak & t So bee0At db St P
1. Registered
Lianas & Waco beeLK&T
1951 -.I
Sep
90
88% 96's
let
gold
'
09
Del Lack & V estern312e
1951 J-J
'10
3an
94 94
111%11435
Regiatered
Morrie & Essex 1st75-1914 M•N 11141134 1114
1961 39
93
4 S
Meapy:0
114 Jan'10
0
99
114 117%
: 93% 94%
Extended let g3'..
let consol gnarls
1916 .1-.1) 113%
1951 A-0
127 J'ue'06
80 .1.1y'09 ..„, 80
80
let gold 3s sterling
Registered
1915 J-D
1951 M-8
94 Sep'UV
2 100121014',
10
.84 3
09
1),
9334 96'.
100%
934 1,
19
00
Coll Trust gold 48
2000 3-0 02
let ref gu g 3126
11612 120 11778 Nov'09
117%121
99
100% 99 J'ne'01) „ 911
Registered.
N Y Lack & W let 85 11121
109%112%
99
984101%,
1923 JP-A 100%11012 109% Dec'09
99%
Construction 55
lit ref 48
99% Dec'09
1 91/ • 101%
100
9934 1004 100
9934 10074
1923 M-N 100
Term & improve 49
L N & Tex gold 46 - 1
1
1
3
49
9
6
655
3
226
M
AA::P
INg
10214 Fel.).03
99% 97 May.07
Warren lat reigng 312 2000 F-A *Wu%
Regiatered
100 Apr.09
991;100
11812 122
Cairo Bridge gold 4s...19
Del.6 kind let Pa Div 76 1917 M-8 120 120% 11812 Deo'09
96
60
3M
J:rg
149 A.u2111
Registered
1417 M-8
58's 89 De0.011
88% 92
LonisvDivdeTerm g3'.s.1963 J-.
102 101 100 107%
106
Middle Div reg 53
1918 J-D 'fa- base 101
..
10-yr cony deb 48
1921
103
102
102%
103
17
7
1
19
9
3
4
3
A'
5
j
i
p:
c
r
Y
:
,
,
0
9
,
9
11
1
Omaha Div let g 3s
'/912
79
10112103'.
70
let lien equip g 412a
1922 J J
1951 3-^
9934 100
9, 100 103
St Louis Div&term g 35 1961 J -J
194351-N 100 100
let &ref 4s
11)04 119'. 1004 1.1; 97 107
71+
Registered.
19413 A-0
Alb & Sus cony 31211
1961 - J
Nov'09
000
011
127
128
89,
2
89
128 1148's
894 90%
Gold 3126
Rens & Saratoga let 78 11121IM-N
1951 J-3
10112 Oct'99
J -J
Registered
Del Riv RR Bridge Bee Pa 1111
96% 96% 9512
96
261 95
89.4,100 Novq)
Spring Div let g 3126_19
Deny & R Or 1st con g 4 1936 J-J
95
61
1 3-3
Nov'09
973
„..
4 100 I 96
ti•d• 100%
1034 Jan'10 ...., 103 108
Western Lines let g 48-1951 F-A
Consol gold 4128
1936 J-J 104%
121 121.
102% 10284
1121 leb.011
11101% 104
Begley .6 Car let 6s
1923 J-D 11712
Improvement gold 58 11128 .1-1) 103
LS %sale 01112
*96
9412 1101 92% 9812
1/434 es
I 964 Oct '011
Carb & Shaw let g 46. 1932 M
let n retunding 68
1855 F-A
93 Feb.09
,1174 120
'117 4 Jan'10
Chu,St L & N 0 g 6.
Rio Ur Juno let gu g 66 1939 J -D
.196 -18 117%
78 Dec'09
80
78 80
ltiogr8o let gold 48- 1940 J-J
Registered
1951 J-D 118 118 118% J'ne'u9 ....11884 119
85 Mar'08
110 Uot '119
110
90
Guaranteed
Gold 312a
11140 J-J
)
1951 8-1
V44 Sale 94
944 6 11212 10012
1110 Alar'08
1930 J J
Memph Div let g 4a 1961 J-2
Rio Gr West 1st g 4
_
1 83
84 Dee.09
J'Ay'Ub
97
98
big°and coltrust 46A 11)41/ A.O 83 24
St L Sou let gu. g 4s
1931
97 Jan'02
95
......
Ind B1& West See(10C& St.L _
Utah Centlatgug4a a1917 A-0
98
97120ot'09
98
98%
Ind 111 & Ia lit g 48
Des 26 & Ft 1) ud & St L
1950
'04
Sep
110
11012 8 109 112
Int
&
M-N
Great
by
let
g
613_1917
Nor
Moi
Un
let
g 65-1911) Id-r8 110%111 110
Des
977
954
in% 2 93
2d gold 5s
Dot & Mack 1st Lien g 48.1995 .1-13 90 97
1009 M-S 107 107% 10334 1004 10 86 1034
92%Dec.09 ....' 88
1
92
1074 sale 107
10714 43 864 108
U.'rust Co certis
92.
1995 ./.1.) 91
Gold 4a
.0
60
40 Dee'09
3d gold 4.
Detroit Southern1921 MS
10684 21 104 1114
73
31 70
82
107 106
Iowa Central lst gold 59-11138 J-D
Ohio Sou Div let g 4e 1941 M-S 73 $ale 72
111
1111 116
Gold 46
1951 M•B 7512 lake 70 12 713% 46 74% 82
Dui do Iron !tango 1st6.-1937 A-0 111 •.....• 111
• Imo's,liar'Ob ....,......
at A. ds U It Bee L
Regudered
s
1937 A-0
........ ....I1
.1, Mich Bee To!& 0
26 tits
1916 J-J
K C. Ft8 do M Bee St la & S
Dui Short Line Lie. Nor Pao
Got
109
_.,.110
'09..,..1
110 1104 K edsAllt&B SeaStL&SI
Dal So Shore & Alt g 56_11137 .1-3
Usust ot Mann SedltPM&M
Kan & Paean° SeebLK&T
734 31 7134 75%
12ast Ten Va di (4a bee So ity
Kau City sou let gold 36-1950 A-0 734 Bale 72%
03 Ot'Uu
113
Dee
'09
....1
112 115
118
Elgin J ol & Raet lat g 58.1941 M-N
Registered
195 A-0
4103
Elin Cort & No isee-LehdaN Y
Ref & impt 56 Apr 1960
A-0 10234 Sale 102% 103 .0 If/6.
Erie let ext gold /a
Kentucky Cent see L & N
1947 M-E 10214...... 101 NoT'09....1 101 101
1904 Oct '09 __I 1951210862 Kook & Des Mo Bee 0 It l&P
26 ext gold 66
1919 31-8 1064
1044 Nov'09 ....I 10414 106
36 ext gold 4126
1923 M•13 102%
Knoxville & Ohio See So by
1 112%115%
1084 1064 1 106 107% I ake Erie & W let g 58..1937 J-J 112%115 112% 112
4th ext golci 56
11120 A-0 108%
97 Jan 01) „I97
117
107 Novlins .... 10T 109'2
6th ext gold 4a
• 2.1 gold os
1928 J-D 9934
11)413-3 107
112 , 6 112%1144
110 110
let consol gold Is
North ()hie let gu g 65 1045 A-0
1921/ 23-12 122 12212122 Jan'10 ...I 12034 12512
12034 124 Aug'ini ,...' 122 124
1920M•13
lat comfit g Lund 7a
LShodlMlchS b'es.N Y Cent
Erie let con g ...prior-101W .1-3 864 97% be's
137 12 30,' 82
Lou Val N Y 1st gu g 4123.1940 3-3 107 1084 1064 Deo'09 .... 1064 1084
91
, 82 8812
81 Nov'09
84
Registered
107 Aug'UV ..... 107 107
1990 J-J
Aegiatered
1940 3•3 106%
76
767
80
71
7134
4
lb
6612
1)8
let consul gen Lien g4.1996 .1-3
Lehigh Val(Pa)Colts g 4 2003
9634 97 Jan'10 ..... 117
I
81512 Feb.07
Registered
Len V Ter by let gu g 58 1941A-0 1154115% 116 lb UCG 'UV .... 11514118%
1998 J-J
8614 86 1)ec'119 . 1 764 9n)
Penn coil tr g 46
Registered
1951 F.A 86
109's(Jot'99
.1941A-0
80
Sale
80
814
68 63
894 Leh V Coal Co let gu g 514 1933 J -J 106
50-year cony 43 A
108 Nov'09 .... 108 109
1953 A-0
73 109 5712 80
do
Leh db N
Series 13-1963 A-0 71.721iale 71%
1st guar g 48 11145 id-S 93% 95 I 11634 Sep MI .... 20 91
119% Aug.09 .115 1164
Bun N Y& Erie DAM-1918 3-1) *1144
96%....
Reg-layered
••••..
1945 11-13
Chic & Erie let gold 65 1982 M-N 11312114-12114 Jan'10 .... 11334 117 y
11372Jan 'uti •••
C & N let pits.
1914 A-0 102
121 Deo.08 ,_ '
(Rev & Mahon Vat g be 10:38 3.3 110
11014Sep'kW .... 1014101%
Gold guar 5.
1914 A-0 WO%
129 129% Leh & Hud R Bee Cent ot N .11
Long Docx oonsol g 88_1936 A-0 126 128 112614 Deo'09
Coal& Kit 1st cur gu 6 1922 M-N 105%113 114 3.1054.19 .... 11212 120
Lob S. Wilkesb See Centof N J
Dock & Imp let our 136-1013 J-J 102
.11)34 Uct'09 .... 10312110
1
Leroy & Caney Val beeMoP
-•
•
.
••••
• Oa
••••
••••
••••
•..•
••••
••••
••
••••
•••••• •••••••
••••
••••
•
•
.
.••.
••••
•••••
•••• ......
H
••••
-14.1
•••••• ••••••
••••
••••
••••
••••
••••
••••
1
9812
I
••••
•••• ...... •••••••
•••• ...... ••••••
K
1111SCALLANEOUS BONDS-Continued on Next Page.
Gas and Electric) Light
Gass and Electric Light
0
Atlanta L Co let g 66...1917 j-D 102
NYGELH & P g 5....1948 J•D 103 Sale 10234 10314 17 10012 104'.
.13klyn 1./ Gas let con g 63 1945
t 107 109
Purchase money g 46...11)49 F-A
1074107.4 1074 10784
9312 6212 b.)'*/
84', /Uts s234 8674
Banal° GU let g 55
1947 A-0 26% Vale 664 66% 6 60
74
Ed Rd 111 lat couv g 55-1910 M-8
100 100%
IOU Dec'09
Columbus Gaa let g 55
1932 let consol got.168
1995 J - J 110
110 Jan '1 u
110 112
Detroit city ..las g oa
10012102% NY&Q El L&P lat con g 5a11/30 F-A
97
193." J -J 101 101% 101 Nov'Ut.
98%
9612 May.vii
De& bras Co eon let g bs 1919 F
9534 sop 'Uo
......
N Y& Rich Gas 1st g 5s.1921 ..1-N
1)7 12 97's
Eq tA LN 2 Act con g 584-11131.
............ eat & Paa hi'& E con g 53.11149 M.8 0512 100 11)
,
...;t3
;:t011!)
4j
S
43'4
117
107% 98 Mar'We
Gout& Eleo berg co c g68.11)49 3.1) 90
Iii) 121
01 12 uct '01
reo Gas & 4: 1st cou g 63.194s A-0 111)
.19 Jan'11)
Or Bap G 1. Co let g 66 191v F•A
.00 10U
.02,
4 104
101 10U Oct V.Refunding gold 5a
J.j 103
1947 it-S
4 4 110
01
4
10
Hudson Co Gas lit g 5a 1049 M-N
u4
314
%3
1)a010
1033
1:0
.105
WIG-Lc% eke 1st gu g 66 1937
10
'.
10332 Jan '10
106
,
%4 19
04lvse
KauCity(31o)uas let g 631922 A-0 100
100 100
IOU Alay'00
Con (i Coot Ch let gu g 58.'36 3-ID 1014 iO3 10i.2 Jan 10,
101% 103
1.,‘61. g ba 1031 A-0 4,10212
104-h. 10412
Kings CA,
04% Sep.'01,
114 y Aug.°,
lnd Nat Gas& 01130-yr 53.36 hi-N .
99
Purchase money hi
2997 A-0
110 118
116 11712 Aug'00
Zan 5 net ties ist gu g 3s.194: .U-N 101
101 Deo'u
101 101%
Ed 8;1111:1gs Dawn g 43 11)33 J..1 * 87
88 sep
Syracuse Lighting lit g 65251 3-1) 1,9
1.1934 Nov'09
99% 99%
Lac C4ae Lot St L let g bs.e1919
103
103
103
13 1024106
'1'renton 'AS. Ei lest g 53 1J41) 1-S
.......•.....
.. 110 May'05
Het and ext let g bs
1934 .0
100 191% Union Elea L& P istg 56.19:k M.8
102 10012Jau'10
08
96 Jan'
ilwankee Gas L let
st-N
92
112
92
9012 1)2.
1 Utica, El L &I' ists ig 56.19ou J•J 103
Newark Con Gas g
3-D 1UU /-01S-8t
Westglieeter Light'g g u5.1115,- 1-0 98 105 1o24 sinew, .... i02 4 102%1
-4ZiO-pr1C;45
-1friday; latest bid and
e Dee Jan b Duo 'fob 4Des Apr' s Das .day A Dee Ply is Das Mut •Deo i./et e Das Deo a Dation *ale.1
asked thisweek.
New York Bond Record-Continued-Page
JAN. 15 1910.1
157
BONDS
BONDS
,.
Price
Weak'S
Price
Nanflo
Week's
Friday
t
N. Y. STOCK ICX0HANGE
Range or O,a,
Year
N. Y. STOCK EXCHANGE 4.•
Pridai,
Range or t
Year
Ian 14
Last Sate ,
WEEK Esuirie AN 14
t1-1
,"45-4
1909
Jan i4
WEEK ENDINO IAN 14
Last Sate
•le
1909
1
Eta
Ask LOW
Long Dock See Erie
litgn No Low High 51 Y Bkln & Man Bch See L 1
Bid
.4s4 Low
High No Low. R
.. 1,4
Long '0(1.-11400n g 6s.h19311Q-J 11214
11214 Dec'09 -.1 110 1128
. NT Y Cent& 11. ltiv g 3128 1997 J•J . 9134 Sale 91%
92 '28 . 901
/
4 94l
102
let consol gold 4a
h1931 --1.
Reglatered
9014 Jan'10
1997
5838 931
General geld 4s
1939 J -D 97
97 Dec'09
1 96
9814
953
8
M-N
Deben g 4s
Sala
1934
9434
951* 72 931* 96
Ferry gold 4125
1022 M-S 98 10114 10014 Apr'0;, ....I 100%1004
Lake Shore coil g 312s 1998 F-A 8012 Sale 80%
11
46 80
85%
Gold 4e
1932 J-D 90
97
9914 Out '06
Registered
79 Sale 79
1998 F-A
79
1 7834 841
(
Unified gold 48
1949 5443 94
98
9414 94 Jan'10 ... 94
Mich Cent coil g 3125. 1998 F-A
80
80
8 80
8434
Debenture old 58
1934' J.D
10412 Dee'08 ,
Registered
71319Dee'01) ••.. 7814 524
1998 F-A
Guar ref gold 4s...,
1949,M-13 99
074
99%
98
Beech Creek let gn g 48 1936 J•J
2 97
100 Nov'09 ...• 100 10034
13klyn & Mont lat g 6a..1911'M-S 10014
.
000
Registered
1936 J.J 101
102 Mar'01 •
18t5a '
19111M-S 100
....
2d gu gold 5s
1011* Deo'08
/07
1936
N Y Bib M Blstcon g5s 1939 A-0 106
/
41Nov'06
1101
Beecher Ext lstg 312a 01951 A-0 86
..
N Y & R B 1st g 5s
1o27 11-5 103 1064 105 Apr'07
Cart 85 Ad let an g 4s. .1981 J-0
07% Apr'09 .... 97% 971*
Nor ShIllat eon g gu58 o1932 Q-J 1021*
109 Nov'06
Gouv & Oswe 1st gag Oa 1042 J-D
Louisiana & Ark 1st g 58.1927 131-5
11612 9812 97 No10011
99
06
Moh & Mal 1st gag 4a 1991 51-5 0978
100 Dec'09 •
100 100,
4
110 1)eo'09
LOU18V ek, Naativ gen g68.11130 J -ll 11634
115% 11712
N J Juno R gu let 4a 1936 F-A
105 Oct '02
Gold Os
110 117
19:37M-N 114 110 11412 Deo'09
N Y & Harlem g 3128. 2000 M-N 91
0914 Oct'08
Unified gold 45'
1004 57 9812102¼
1940 J-J 10014 sale 100
Y & North lat g 5e 1927 A-0 108 112% 108 Oct'09 _. 108 108
100 100%
98ts 99 100 May'00
Registered
1940 J.J
N Y & Pu lat con gu g 4s 1993 A-0 92
100 Sep '05 •••• ......
/
4
1004100%
Sink fund gold 63
1001. Dee'09
1910 A•0 1001
Nor & Mont let gag 59.1916 A-0
110 Nov'09
10834 1104
Coll trust gold 58
1931 51-N 110
Pine Creek reg guar 613.1932 J-D 121 130% 1311. Jan ha) .... 131%131%
111% Oct'09
E H & Nash 1st g 03.-1919 J -D 11158
111 111%
R W&Oconletext5eblO22 A-0 1091
/
4 110% 10868 10S% 10 tl081, 1
J'anne4
1071
3 10714j
L Cin & Lex gold 4128...1931 1N 106 1064
/
4 10734
Oswe & R 2d gag 58_51915 F A
1
105% 105 Jan '05
N 0 ,f4 51. 181 gold 68....1030 1-4 12414
124% 125%
1254
RW&OTRlat gu g 63.1918 M-N 1054 10634
Jan
'09
J.J
1081
4
N 0 & M 2,1 gold Os
120
120 120
1930
Rutland let con g 4128 1941
101% Sale 101% 101% 2 99% 994
Pensacola Div gold da...1020 M-S 10114108 107 Dec'09
107 107
Og&LCham lat gru 4a g1948 4.1 91
94
9068 Dec41.1
0058 93%
St L Div 1st gold Os
1921 M-8 11468 116% 117 May'07
Rut-Caned 1st gag 45.1949
89
9112 92 J'ne'09
90% 92
2,1 gold 3s
71 MaY109
St Law & Adir lat g 55 1996
71
1980 M-S 0818 75
71
J'ne'09 .... 115 115
115
Atl Knox & Cm div 4s 1955 M-N 941
/
4 Sale 9418
93% 96%
941
/
4
2d gold 6s
125 Feb'08 ....1 .
1096
A ti Knox & Nor 1st g 281946 J -0 107 113 116 J'ly 06
Utica & Blk Rtvgug4s 1922 J.J 101
1021
/
4 Dec'09 ..„..110214 10214
/lender Bilge 1sts f g6s.1931 M-5
110 Jan'09
110 110
Lake Shore gold 3125
92
24 91
1997 -D 92 Sate 92
95%
96 9834
974 Jan '10
Kentucky Cent gold 48 1987 J.J
96%
Registered
J-D 904 92
901.2Oct'OP
1)04 941
/
4
105% 10514
L&N & SI& 51 Lag 4%81945 M.5 10514
Debentu:e g 4s
M-21 95% 9534 05
95%
1
19
9
9
28
7
04%
97
9175 Nov'011
91 12 92
L& N-South 5.1 Joint 48.1062 J.J
98 92
26-year g 45
92% 611 93
1931 M-N 9434 Sale 1)434
0714
111
16 11258 11614
N Fla & 8 1st gti g 68 1937 F-A 111 113 ILL
Ks A & G 1st guo 5e..
112%
J.J
.1 93
313
1
N&C I3dge gen gu g 4%81045
Mahon 0'1 RR 1st 55..1934 j 113
109 Oct'07
110% Nor01)
109 11034
Pens & Ati let go g (55 1921
Pitta & L Erie 2d g 5s.a1928 A-0 102
100Deo'09 .. 1 100 100
110
110%1154
S & N Ala con gu g 58 1936
1101.Sep'00
Pitts AloK,32 list gu 65 1932 J.J 127
/
4 Jan '01)
1301
18012130,
4
Nov'09
M8
Jett
94
iidge Co gui g 4a 1945
&
. 94 95%
2d guar 6a
1934 J.J 121
LJNA&CIi See (.) I & L
McKeea& BY let g Os 1918
111%
1t/( ahon Coal See L S & U S
Mich Cent let consol 64 1909 M-5
101 FelrOsi
101 101
al;anhattan Ry cons°,45 1990 A-0 97% 984 98
984 18 92%100
Os
113 Oct'09
115 116
1931 M-21 1124
Registered
104 Apr'05
1990 A-0
......
112
Registered
110 J'ue'06
......
1931
9958 *10 99 10034
Stinpd tax exempt 191)0 A-0
9914 l`b
48
90%
Oct'09 .... 9834 1001
081*
/
4
1940
fdoK'pt & B V See IS Y Cent
Registered
98 Dec'09 ....1 98 98
1940 J-J
97% Sale 971
/
4 97% 16 83% 96%
hex Cent cons g 4s.
1911 J.J
J L & 8 let g 312s
90 J'ne08
1951 M-5
23%
. 27 Dec'09
let eons too g 38
a1939 J'ly
23% 27%
lat g 312a
90 88% 8S4 11 139 9312
1952 M-N
25% Ari'09
2d C0118 ino g 38 trust recta
2034 25%
20-year deb 4a
9212 152 911* 9514
1929 A-0 92 Sale 92
hex Internet 1st con g 48.1977 10-5
80 J"09
80 80
Bat U & Stun 1stgn g 35 1989 J-D
Stamped guaranteed.....1977 11-5
80 If8 '08 •.•
/
4 101
NY Ohio& St List g 4a 1937 A-0 1001
99% 101)
tI 994 1021
/
4
hex North 1st gold 68.-1910 J -0
10058 MaY'09
1004 1•31
A-0
Registered
100 Deo'ON ....1100 1004
Mich Cent bee N Y Cent
M-N 90% Sale 90%
0078 53 9184 94
Debentures 48
1
9
37
31
Mid of N J See Erie
West Shore lat 4a ga 2361 j.J 102 aide 100% 102
371101 1041
/
4
MI1.LS&W See ()hie & N W
1001
/
4 14 100 1081
Registered
/
4
2361 J-.1 1004 3a15 100
hill & North See Ch M & St P
N Y & Greenw Lake Soe Brie
Kinn & St L 1st gold 78-1927 J.D 132 133 1321.J'ne'01.1
132%133% N Y & liar See N Y 0& Mud
Pacific Ex 1st gold 6e...1921 A-0
118 Jan'07
N Y Lack & W SeeDL&W
4 102 10134 May'09
South West Ex 1st g 75 1910 J -D 1091/
101% 103% N Y L IC & W See Erie
1st consol gold Ss
1934 M•N 107 1081* 107 Dec'09
107 11112 N Y& LongBr See CentoINJ
821* 8314 Nov'09
1st and refund gold 48 1949 M-3
831
/
4 874 MINH& H-Cony 65-11148 J.J 134 Sale 184
IPA% 89 133 148
911800t'OU .041. 0114 9114
281 92
Des AI & Ft D lst gu 45...135 J.J
Cony deben 312e
95 97%1111
101
1056 J.J 101 Sale 100
/
4
Minn & St L gu See 130 It&.N
Houaatonio B con g 5s 1937 M-N 114%
11814 Deo'08
99%100
99% Jan'10
111StP&SI3Mcong4intgu'38 J.J
/
4
99 1001
N H & Derby con cy 58 1918 M-N
107 Aug'OU .... 107 101
M S851 & A 1st g 4int gu 1926 J.J
984 99'4 98%
99
99
88%
N Y & North Ss* Y C &
&Dun U n See St I' AI 8551
N Y 0& W ref let g 4a..g1992 H-S 974 97% 9614
0738 '7 9634 9944
Mo Kan & Tex let g 48-1990 J-D 993 Sale 9914 100
98%10114
Regis $5,000 only
101 12 J'ne'09
g1992 if-f3
20 gold 48
874
874 1 86 8834 N Y & Put beeN Y C & H.
0.990 F-A 8714 88
104
1st ext gold 68
1 10334 10912 N Y & B, See Long Island
1044 M-N 103%10412 104
1st & refund 4s
1
/
4 87% NYS&W Sea Erie
831
2004 M-13 8438 Sale 84% 85
901
Gen a I 4125
/
4 Sale 90
904 75 8938 93% N Y Tex & hi See So Pao Co
11)36 J.J
874 88 Apr'01)
St L Div 1st ref g 48
89% Nor & South let gos
88
2001 A-0
101 Oct'09
101 104
1941 M-N 10118
Dal & Wa 1st gag 5s 1940 M-N 104
105 Oct'00 400 105 110
Nonf & West gen g 65
126 Oct '011._ 1261
/
4 128
1931 M-N 124%
9212 93 Jan'10 •... 91
Kau 0& Pao let g 4s 1990 F-A
93
Improvem't & ext g 65 1934 F-A 124%128 12534 Nov'05
125 129
Ito K & Ii. let gu g bs 1942 A-0 10934
113
118
1
113 11412
New River let g 68
A-0 124 125 124 Jan
.127 128%
1932
100%
M-N
hi 4& Ok let gu Os
1071-1Di:0'09 .••• 106% 112
1942
N de W By let con g 45 10
1)812
983
'10,.41 41 08 100%
996
6 A-0 9812 99
UK &'Lot 'I' latgug6s 11142 M-5 104%105%104% Dec'09
10412 110
Registered
09
..1 97
07
9 A-0
Sher Sh & So 1st gu g 58 1943 J.0 102 108 1101
/
4 Apeut1 ••.• 11014 11014
Div'l let 1,6 gen g 4a 1944 J.J
9234 Sate 97•
923
93
8
71 141
96
1061.
8.•
Tex& Okla 1st gu g 5s 1943 11-5
1053 au'10 .•.• 104 111%
4.1)
10-25
1011
/
4
aale
year
102
1011
cony
/
4
0341031
246,
45/
4
1932
Mo Pacific 1st eon g
1091. 2 111 116
-1920 M-N 1084 11U 109
Poeta). & C Joint 4s 1941 J-0 89% 50
891
891* 111 8914 93
/
4
Trust gold 55 stamped a11117 M-S 101%10134 102
102¼
3 100%10268
106,2 Deo'00 „,.. 106%106%
0
(.186
T
lat
104%106%
g
5a
1022
44
Registered
104% re0'07
a1917 St•
Solo V & N Ii 1st gu g 4411989 ht-r4 951 96% 115
115
i.1 96
9812
/
4 4 101 10334 North
/
4 1021
1st coll gold Os
1920 F-A 10114 10234 1021
Illinois See Ohl & N W
81% 40 7834 851
40•year gold loan 48
1945 M-S 81% 81% 81.38
/
4 North Ohio See L Erie & W
11
3
9634
95 Nov'05
3d 78 ex td at 4%
1938 51-N
00% 96% Nor Pao-Prior hen g 45 1997 @
102 1021
/
4 101% 1021* 113 10114104
11438 0484 954 001%'09
Cent Br Ry 1st gu g 40 1919 11 -A
89
05%
Registered
101 %Deol.)0
101 103
1997 4-•1
88%Oct '01.1
Con Branch U P 1st g 48 1948 j-D 864
88% 01
General
Sale
74,
lien
8-6 7134 76
7234
74
gold
3a....a2047
110 blar'05
Leroy &OVA L lat g 6s 1926 J.J
Registered
71 Nov'09!....,1 70
74%
a2047
10038 1001* 20 9934 10014
Pao Rot Mo 1st ex g 43.1938 F-A 100%
St Paul-Dul Div g 43-.1996 4 -0
06 LWOW
98
9538 97%
115 Sep '01)
2,1 extended gold 50 1938 J.J 111
112% 115
1Dui Short L let gu 60..1916 II'S 100 102%
St L Ir B& Sgen con g 581931 A-0 109121Sale 1091. 110
6 108%112
13 & (jcolltr 4s See Gt Nor
110%111%
Gen con stamp gut g 581931 A-0
III Sep '00
P& N
gen g 6s....1923 F-A 117% 120 118 Dee'09117%121
85 Sale 85
Unified & ref gold 48 1929 3.4
8512 11 86 90%
Registered certitio's..1923 4•F
119 119 Oct '1/J'..„, 116 120%
ltiv & 0 Div let g 48 1933 M-11 87
13768 87
91
87% 7 87
St Paul & Dul let 58....1931 5
-A 112%
11714 J'15007
Verdi V 1 & W 1st g 58 1926 M-S
10214
102
102%
1 102
2i1 5s
103
104% 104% Sep'09 ,„, 101 104'4
eilobJ & K OlstconsgOe 1953 J -J
98 Dec'06
let °onset golit4s
98 12 08 Oct '00,...„•1 9712 99
197
196
18 A
4--R
,O
%lob & Ohio Hew gt lit 68 1927 J -0 1201* Sale 12068 121
7 119%125
Wash Cent let g 4a
9212Jan '01.)
• 1 1)312 9214
1948 pv. 92
1st extension gobo tis..h11127 Q-J 116 11818 11734 Oct '09
117 118
Nor Pao Ter Co let g (i8 1933 4 111
113 Deo'Lit) „, 11034 118 ie
Uenerai gold 48
110
Ul
00 Dec'09
8612 01
1938
Nor Ry Cal See So Pao
Mentgoin Div 1st g 68 1947 F-A 108 1104 112% Oct'09
112%112% Nor Wis See(1 St P & 0
St L di Cairo coil g 48..51930
75 May'08 .
..
Nor & Mont Bee N Y Cent
Unarauteed g 4s
96 101 Nov'04 . ..
1931 -3
k Ind de W beeCCC&StL
0 coil 4e bee Southern
Wino Riv RR Nee Balt de
Mohawk do Mal Nee 21 1: Cob li
Its Cal See So Pao Co
Ore
Monongahela Riv Bee lido 0
Ore Short Line See Un Pa0
Mout Cent See St P 51 &
Oswego & Rome bee N 10
NI organ's La & V See S P Co
1..)ao Coast Co 1st g 58.-1046 J-D
108% 108% 108% 2 108%112
Morris & Essex See Del L& W
so of Missouri See Mo Pao
V ash Clint & St 1.18178 1913 J.J 1081*
10914 10914 1 1081*112/
Penn RR 1st real eat g 4;3 1923 M-N 1031
1
4
/
4
1104 Deo'09 .... 103 105
LI 1st contiol gold Os
1928 A-0 109%111 111 Dec'09 .110 11968
1002Jan'09 .... 109141094
Cousol gold 58
11,1)413
9 31-5 1091.
Jaaper Bram:3111st g 68 1023 J -J 115%
11612 filay'07 . ...
Consol gold 48
M-N 1001*
103 Nov'09 ,.., 101 104%
Alen M W & Al lat 68 1917 J
1081.
1174 Mar'05 .
.
Convertible g 3'9s
1011
Sala
/
4 35 0714 1061
1101
101
1912
/
4
& P Branch 1st 68
/
4
1917 J • J 1081
113 rly'04
Convertible g 3%s
9814481 9434 100
1415 J -D et; Le bale I 06
Nash Fier & Shot See L & N
Cousol gold 48
11
101%
104%104%
1008
33
55-14
1948
1034
1053
4
7
Nat Rys of Mex pr 14%a 1957 J -J
04% Sale 1 9412
94 183 92% 96
Alleg Val gen gu g 48_11142 M-13
102341 99 J'ne'u7
• bluer gen 45
8814
1977 A.0 8834 89
8814, 8 86
89
D R & 13gelat gu 401
2'36 -A 96
Nat of 51ex prior lien 4148 1926 J.J 10114
102 Aug'09
101 103
ui 31
Plata Bat& W let g 4s 043 11-N
/
4 Dee'09
1031!104.
1st consob 40,
,
1951 A-0
Ws 84 Jan'10
80
85
1utP„2
tied Bay & So lst g 68_1924 J -J 100
Jan 113 •••
'Newlt&Ji dee NINIi& 11
j ;4
U NJ 11.11 & Can gen 48.1944 M-S 103
1034 Dec'09.ri;;
NJ Juno It lt Nee N Y Cent
II
1i
MISOELL tNEOUS BONDS-Continued on Next Page
Coal mid Iron
Telegraph and Telephone
Bull& Sim Iron a f OIL...1932 J-D
99% Nov'09
Am Telep & Tel ooll tr 48 1929 J-.) 92 93
98 100
93
93
3 91% 96
Debenture 65
a 1926 M-S
9734 94 Deo'01)
Convertible 4m
1936 M-S 10318 Sale 103
94
97%
/
4
102 28' 92141071
Col 2 de 1 t.)4) gun 81 g 58..194.3 F -A 07% 100
97
,3
21 F-A
97
94 1001
19
/
4 Mich State Telep 1st 5a -1
1
911
109
Le
1)0
149
98 100
4
Convertiulq deb g 6s....1911 F.A
03 9712 931
/
4 Deo'09
93'. Pao Tel& Tel let 58
J.J
87
994 Sale 11108 100
77 116% 1-94
Col mOn 18[4 coil Os gu..11134 F-A
821
/
4 Sale 821
/
4 • 821
/
4
1938
J -J
71
West Union col tr cur 58
85
991
/
4 6 98,21021.
1)91*1.001. 1,9%
Contin'tal(; lets f gu 5a g.1952 F -A
1071*
Fti and real eat g 412a. 195u M-\
OtP. 063
07
...
/
4 971
2 931
/
4
Br ltiv Coal & C 1atg6a..1911) A-0 954100 1021* Deo'04
Apr'00
1939
Cony 4s, Series A
N
103% 1024 1021
/
4
l 84 102%
Jell de Clear & List g 53.11129 .1-1)
107 May'97
Slut U u Tel a fund tis. 1911 mt•Is
100
Afar'05
luU
95
•...
Kan &Ali& 11 1st a f g58.11161 J-J .98
10512 Deo'06
inowaria,
lInnulacturtng
Pocali Con (.1 lierilat a 58.'51 -J
87
88 Sep '09
Allis-Chalmers let Os
86 89
193t., J.J
84 Sale 84
841* 103 80
384
Sunday Cree Co if 68,-1944 J.J
64 0764 73 Feb'07
Am Ag diem let c 65
A-0 102 /024 102
1021
/
4 5 96 1054
Tenn Coal get As
•
1951 J.J 100810414 104% 104'
1915
Oil
[011.104
Cot
ext
Am
4128
97
9/ 12 9714
0714 lb 93 "
Fenn Div
44
tg
a1917 A-0
107 108 Aug'09 .... 1004109
Am
Hide
L
g6s
lat
&
aI
1919 .F
•
101% Sale 1014 102 • 1 96% Day
• Birm Div lc corl 6a,.1917 J -J
107 10d Nov'09
06 103
Amer Ice Scour deb g68.1925 A-0 71
ISO
72 Dec'00 .... 67
Cah
Cod,lat u g 68.1922 J -0 106
110
Jan
'09
....
110
Spirits
Mfg
110
Am
1st
g68
1911
954100
A-5
06
bale
. 3
116
SO,
• De Bar 0& I Co u g 68.1010 F-A 100 :dale 100
100
1
Am Thread 1st co[ tr 48_1011, .1 -J
14214 93 Nov'01.9058 93
Victor Fuel let a t 55 ' 1953 J
87
87 A.ug'09 .... 87
Am Tobacco 40-yr g
87
106% Sale 106/
1
4 106,- 149 10441121
/
4
Va Iron.Coal &Col at g 08.19411
13 991
/
4 100
/
4
991
11952 7 95 100
48
1051 10-A
81
781
/
4 Sale 77%
783c 120 74
*No price Friday;!aheat hid and asked. a Due Jan 5 Due Feb °Due 1a 4Dns Apr h,Duo
J'ly kDae Aug o Duo Oot v Dee Nov o DneDeo •Option 544
41
1.
f,:;; 1L34
U
1
New York Bond Record-concluded-Page 4
158
BONDS
1.,2
:1
Y.STOOK EXCHANGE
-7,44
WESE ENIMMI AN 14
•
Penn Co-Gnat let g 41
26.1921 J-J
/
1921 J-4
Registered
Guar 342a coil trust reg.1937 31-13
4ecoll tr ser B...1941 F.A.
1
Guar 3/
Tr Co certif's gag 3'26.1916 M-P1
1942 -I)
Gu 3124 tr ctfe U
1044 -CI
Gu 342a tr etre
Guar 15-25 year g 48....1931 A.0
Cl & Mar let gu g 4 426_1936 M-N
Cl & P gen gu g 412e eer A.'42 J-J
Series 13
1942 A-0
bones (1 312a
1948 M-N
Series 1)3523
1950 F-A
4a 13 1940
/
4
Erie & Pitte gu g 31
1940 J-4
Series C
Sr & I ex lat gu g 4 426 1041 J-4
Pitta 11.1 W & U let 76...191' .1-J
191' J-4
2d76
h1912 A-0
8d 7a
PItteYJoAchIst con 56.1027 M.N
4.3A....194t) A.-0
/
Pee& St Lgu41
1042 A-0
Series 13 guar
1942 M-151
Berea U guar
1945 3,1-N
berme 1) 4s guar
1941) F-A
Geriee 13 31. guar g
1953 J-D
Series b' 4s guar
C St L & P let con g 56 1932 A-0
Pensacola it AU bee 1. de Neal
Pee & east bee C C C St L
Poo as Pek Uu 1st g 66.-1921 214-F
91921 M-N
48
/
2ii gold 41
1921 J•13
Pere :11arq-eitit W
b lin t&PM g 68.... .....1920 A-0
193U P11-li
let coueol gold be
Pt ilardu Div let g be-11130 A-0
Sag 1 us& 11 Istgu g 48.1931 F-A
Phu ts & W bee Penn RR
Philippine Ity 1st 30-yr 4148'37 J-J
Pans Cin. 89 St L See Penn(Nil
Pitts Cleve& Tol bee it de
Pitts t W Jo Ch See Penn
Pitts -lichees Y See N Y Cen
Pitts 8li & L 13: let g be 1940 A-0
1943 J
let couaol gold 5s
Pitts& 11 est bee It de 0
, 4-JIt
119f
et
theegeug48
teter
J•J
4 envy Cent coil g 4s 1951 A 0
Phtla & Read cons 7s. 11511 4.1)
Senasenier SO Sir See 1;& LI
itioli & Dan See South RI
Rich & Meek bee Southern
aw Or West bee Den& Rio Or
!loch & Pats bee is ft & P
Some Wat 44 tJg See Zi Y Cent
Rutland See N )C cent
b.lag 'Inc it 11 see Yore Marq
1.)t Jo & Ur Let 1st, g 4a 1047 44
at 1. de Cairo See blot/ & Ohio
St L os iron Mount see 51 P
at L 31 Isr bee T ktit A in bt I,
It Louis & 8 F-ieng 68.1931 J -J
1931 4 -4
Genera, gold be
11 lt It woo g 4s..'1/6 4-4
192', MN
Gen 15-40 yr il8
buutliw Div Ist g 56-194TA-0
Het uniting g 4s
1951 J •4
FL 0 6 t S es 3t coil g 63_11128 ta-N
K VIA S 49 Ai Ity ref g 48 1938 A-0
K Ca/ Al lido 01st gu 56.1112t/ A-0
Oz'rK84 Wit:let g u 5.. g.11/13 A-0
St Louie do bee Illinois Cent I
St L S W let g 48 lal ette.111811 31-N
2dg 4s ino bond oils...4/19891 J -1
193414.D
Consul gold 4s
Gray's PtTer let gu g be 194714 -D
t1t Paul& Dal bee Nor Psoltio
SIP alum & Man See tit No
ot. 1" de Nut rats bee Nor Pau
StP ..b a'a City beet;St I'M dbl)
SA 43 A Pasaletgug43...1143 4-J
81 & A I- ist ain't I g :ie.i•0.15 J 4
Sav 15 de West bee Atl Coast/.
Seioto 5, iti 92 A A. bee Nor di W
Seaboard Air lAue g 4a ...lobo A•0
j911 IVI-N
Coil tr refund g ba
Atl-birin 30-yrIst g 48.81933 M-S
Car Cent let con g 4a...1941) 51-3
Iflat Ceti ai Pen big 69.11/18 J •J
let iand gr ext g be...1030 J -J
Coutioi gold Sc
1943 .1-1
(Ia & A ia By let con 5so1045 J -J
(Sc Car 49 No 1st gu g ba 1920 J -.,
beau & Liu* 1St fe)
19264-4
Sher siir & So bee At K & .I.'
tlil Sp uca & li bee At1 Coast L
So Car es lie See Southern
Bentham Paoitlo Co61014144(Cent Pao et/10./911149 4 -D
Registered
s11/49 J -1)
91849 11-8
20-year cony 4s
Cent eau let ret gu g 4a1049 E-A
Regniterea
19411 b'-A
M ort guar gold 342s../c11/20 J -1)
Tluouv a st I. lat gu 46'54 A-0
Sal Rar & 8 A let g 66-11/10 F-A
Alex Jo *ac let g ba....1931 M-N
6111a V ti & A latgu gini.1924 81-N
Roue 11- & W '1' 1st g 56.1933 M-N
11/33 M-N
let guar Sc red
it & '1' C 1st g 56 int gu 11337 J -.I
Cousoix Sc int guar.-1912 A-0
Gen gob! 4e int guar-1921 A-0
Waco& N W tuv lstg tia'30 VI-141
A di A 11 let gu g 66.-1941 4-1
Morgan's La & T let 7s.11)18 A. 11
1415 /OW 1111.............,•10,212 J-J
1
Price
Friday
Jan 10
BONDS
N. Y. STOCK EXCHANGE
WELSH 1{NDING JAN 14
Range
rear
15(.9
Week's
Range or
Last Salo L-1
Pete*
Friday
Jam 14
Week's
iS
Range or
2
Last oats
Rdififd
Year
2909
II.gA No
But
Ace Low
Am Low
litah Nei. Low
Southern Pao Co-(Conttnued)
112 Feli,01
104 107
No of Cal guar g be
1038A.0 05 •
106% 10434 Deo'00
4
/
104 filar-09 ....
102 105
Ore ifb Cal let gnat g 68 1927 -4 1031
103 Dec'08
4 Deo'09
/
1901
So Pac ot Ariz 1st gu g 63.e'10 J-J 10018
00 424'ne'06
4
/
891
901
4
/
4 011
/
10412 J'ne'013..
4
/
1)0'. 1 891
So Pee of Cal-Os lt & F.1912 A-0 lo2 42
90's
4 Deo'04 ....
/
1141
10u
let gold Os
87%Deo'Oil...9618 1)8
4
/
971
116 May'07
1 891
4 1/0
/
let con guar g 53
19
802 90
A -el i1/8
00
2M
17
93
1114 Apt'Os ....
2 91
/
901
8Pao of.ti Mel Ist g 68 1911 J-J 1004
91 Dec'08
04
83
J'ly 09... 881. 92
98 DM
So Pao Coast 1st gu 4s g 1937 3-4
4 08 Deo'69
/
991
OS
1031
4 102', Jan '10 .... 102% 101 1
/
101
110 Jan '05 •
Tex&NOSabDivist gda 1912 M-S
102 Nov 00. 102 102
11038 11034
11034 Jan '00
Con gold 5s
1943 J -J 100
107%
134% Sale 9138
96 la 93/
109% Ply'09
4 96%
1
100% 109% :it) Pao nit 1st ref 4s
1955 4-3
107.2
4 109% 24 108 113%
1
4 109/
/
1091
96
96
Southern-let con g 53- 1994 J -4
4 0638 915 Aug'09
/
951
110 May'09 • 109 110%
......
Registered
1994 J-4
4 9034 90 Iday'08
/
951
81 LAW 76
4 801
/
4 8038
/
86
02 Apr'07
Develop & gen 48 Ser A 1956 A-0 81/1
93
150 Jan '10
4
/
891
98% Apr'04
4 90%
/
861
93
Mob Jo Ohio coll tr g 46-1938 31-S
Jan
110
4 Oct '09
/
1941
4
1093
111
110 118%
10251
Mew Div 1st g 41
1041.104'.
4-58.-1996 J-J
/
Jan
57
67
Deo'09•
• 106%107
91
86
4
/
88
106%
1061
St Louis div 1st g 43.-1951 J•J
108 Sep 'oti'
lob/
4Sale 1061. 105%...2 10638 110
1
Ala Cen R lst g 63
1918 J-4 lush
107 Oct'08 _ •
89,o 92h b214(let
99% 92%
4
/
1061
AU & Danv 1st g 43
1948 J-4
J'n014.
Feb'015
109
110 110
110
2d 43
87% 92
I
107
108 Deo'119
-11
/1-0
AU
1071/41091/2
Yad let g guar 4819
941'3
109 J'ne'091.... 109 110%
4
/
107
107 I 4 107%109
107%
Col & Greenv let t/s
1916 J -3 1041
44'ne'05
1
112/
109% 119%
167
110 112% Dec'09
T Va de Oa Div g ba -d30 J-J
100 A.ug'09
114 Jan'10
100 102
1101.114',
Con let gold be
1050 31-N 112
931
4 94/
/
4 9338 Nov'ik
1
105 107
107 A in 'ud
9334 VS
E Ten reor lien g 58
1938 M-8 106
116
SS
64
65 Nov'09
89'. 101
Ga Midland let 3s
111
1,3 Deo'ut/
1121
113 117
4 Deo'09
/
4 1161
/
1121
4
/
Ga Pao Ity let g
A -7 1131.
42J192
96
4 118 1141
/
1141
4 Jan '10
/
4118%
/
1181
Knox & Ohio 1st g6e 1925 J•
11548 Apet.56
....
Mob & Bit prior lien g 531945 J•J 106
4
/
811
82 A ov'04
2112 Dec'09
1
112 112/
110 116
1945 -J
Mortgage gold 49
lob%
4 Nov'09
/
1071
95.08 1011 10034 Dec'06
Rich & Dan eon g 63. -1915
4 Los Deo'09
/
10131
4 105 Ang'011
/
106 106
Deb be atamped
1927 A-0 104%1081
75
75 Oct '08
4 Deo'09
/
110 113 1111
1111.115
Rich & Meek let g 46.-1948 31-N
4
/
4 1031
/
1031
10912 105 Deo'09 •
104% 1091
4
1919 M-N 11/3
/
So Car & Ga let g be
112 Oct'06
4
/
4
/
1051
107 Deo'09,.... 107 1081
Virguita Mid ser C66.-1916 M-8 1071
4
/
4 Dec'00
/
1081
......
Series 11 4-53
1921 M-8 10814
107% Deo'u9
107% 109
Series 5 be
1926 M-8 104
4
/
• 411
4 De53'091
/
4 911
/
107 1101
108 De0'1/9
911
4 95
/
General 68
1936 M-N
4
/
1061
4
/
107 1091
107 lice'05
Guar stamped
96%
11s11 '07
VU
F-A
4 M.N
W let cy gu 4e-1
W0
36
992
100 Jab '10
107 109%
1st con g 66-10/4 J -4 109
West N
8 N Ala S'ee L N
4 1161
/
1151
4 115 Deo'09
/
116 116% Spokane Internal let g be 1955 j-J 104 106% 106% Sep'06 .... 106% 106%
107% 102 1001
4 Nov'09 •••• 106%109
/
4 'ly
1
118/
2 1181
/
115 1161
41./ct '09 •••• 115 117
/
1
1--(54
071
4 97% /17
/
97
VS
4 156
99% Sale 991. 100 1109 0812101
Gen refund et gilt
1053 J-J
109 Deo'03
Lian, Dec 10i/
109 110%
St L 51 Bge Ter go g 56 1930 d--0 109
97%109
1141
96
1/4184an'10
984, Tex & N 0 Bee be Pao Co
4 98
/
2000 4-1) 111 112 1111. 111% 10 III 119
10/
102 1021
102 Cot
4 Tex & Pao let gold be
/
83 Nov'09 •••. 85
8t)
75
251 gold Inc be
92000 Mat 70
103 Sep '09 •••• 103 105
Div13 1. let g be
11131 J•J 1010
w
N°
en
W Min Wit N W Istgu5s'il0 1P-A
1 1101
4
/
110',,
41121
/
Tol dis 00 let g be
11135 J -J
112 112
Weetern Div let g 5e 1935 A-0 107%112 112 Sep 'Oki
v
u9
101 101
G
103 101 tillZu
eneral gold 58
1101
91% 96
4 151
/
Kan & 31 let gu g 4e-219
O
D
A:
5, j
130
93
4 0352 UV% Deo'uo .••• 861. 94%
/
921
Tol PS. W let gold 4s
1017jJ•J
IR/
511 34
95% 06 De43.09 •••• 92
Tol tit Ldb W pr lien g 34213 1926:J4
97
81
1
89
5
6 9
15
1 8
4
79/
81% 89
D8
1950 A-0 bl
%
1.1
5U-year gold 4s
ba%
00
90
LI 914 91%
Tor liam & Bud let g 48./1,1940'J -D
106 Jan'10
1081.108%
Ubiter& Del let con g Sc 1928' J -D 100%
'00
811
Out
86
. 121 124%
2Dee'09...
/
1211
let refund g 48
121%
9%
109911/4
3-.
.
06 11/86 104
108% Deo'01).... 108%111
Un Pao RR & 1 gr g 46-115
10834
711-51 101% sale [011.
42
4 103
1
102 Nov'09 ..„ 100/
91
Registered
4 6 91
/
911
4
/
911
1947!J.J
1/61
4
/
4
/
4 1033 104 1241
/
111 34 1101
20-yr cony 413
91%
89 date 881
4
/
89 260 88
118
79 151334 1110
1001
4 AugVii • • 1001
/
931
1st & ref 46
O8
1 U2
g20
4101
/
10014
j
1.M
j
:S
4
/
971
118
24 1/7
991
4
/
ore ity & Nay con g 43.1946. J -D
53 83% 89
85
8414 Sale 841
4
/
1108 11052 IL li7 1201
4
/
Ore Short Line 1st g 68-11/22 F-A
4 1 116% 120%
/
4 1171
/
110% 117% 1171
2 11'238 118
113
113
let consul g 5s
1946 51 • J
86
18 82
82
89 bale 84
10014 Deo 011
1)4'.
Oiler rotund 4s
4
/
41001
/
1001
1021
4
11129 J •
/
iieiV f
:t
1)
uu
4 414
1/7
10
s
o
Itegistered
4 98
/
97 De0100..... 1161
98
97
41118
/
11/71
Utah ob Nor gold 513-1
J
9'4
1/26
192
Uni.NJ RR & C V° See Pa RR
4 10 9138 95
/
931
4
1
4 93% 93/
/
931
84 Dec'011 .... 79
81
Utah Central See lb Or Wee
86
4 84 771
/
791
79 bale 79
4 1311
/
4 Utah & North See Un Paoilio
/
4Apr'07
/
1011
Utica & Black li, See:
..
31 Y Cent
4
/
951
4
/
081
%/' andalia consul g 43 -.1955 F-A 06
91.
116 O
98
911
N7
1 :°8
90
era Cruz &Piet gu 41
459
4531934 3,4
/
Ver Val lutt & W diesMoP
Virginia Mid See South Ey
2 110 Oct '09 ....1110 1171
/
981
4 13 87
/
4 Sale 88
/
881
4
/
92% Vied, Southw't 1st gu 58.2003 44 110 1121
104 104
98
i5.3%
1958 A-0 1/8
let Cons 50-year Os
VA Oot 1/1,1
11
18
4 19
/
9% 0
13
111% bait 1:
1'111
9
1%199
4kt
W a b2
4 103'. 3 101 108
/
103
argotogso"8
1031
1.11/%
88 121
4/9
1
03 105 11.50 Dee /
84 Dec'09,,,, ti312 91
66
Debenture aeries 13
1939 J -9
101. jan'10
1021
211/Vs
/
let lien equip s fd g 513-11521'W 8
90% 2 061.100%
991
4 99' RI%
/
Inay'ur
....1
57
87i
87 Jan'10
Si
86
let lien 60 yr g term 413.1954 J -J
84
86
74 bale 74
4
/
7d1
4 381 71% 801
/
9L Dec 4.19
01
let ref and ext 548
UM J.
4
/
4 911
/
1111
Aug'v9
....I
1071
108
4
/
1111
2
/
Aug'Ub
J
1011
J
Ext
Cli
58-1941
/1),
Ist g
Det
1071.
85
83 Deo'03 ..„I 1181
88
4 911
/
4
/
Des Alolu Dly Ist g 46-1939 J -J
76
82
4 80
/
4 De0'015 ,,
/
701
.1 701
43
/
Ow Dtv let g 31
100
109/
4 1811E'th5
1
7
00
4
0
90
6
4 31 6
47
5
1;:i
98
8 b3
..
A--()
Tol & Ch Div let g 4s-19
41 M
1)4
4 10612 J '1113'01)
/
1041.1041
1021.106'.
b
105 Dec'08
4
1
11/4/
Wab Pitta Term lot g 4/3 1054: J'"
104 1011
47
bale
4
/
511
411
47
582.
60
4
/
'ue'09
certfs
Co
Trust
4
4
/
:
101334 107%
1071
11-15
7 Sal6
63,
4 23
/
111
7
14%
gold 413
1954 .1-a
4 Sate
/
61
6%
4
/
14 54111
4 141
/
71
Trust Cocertts
Wool
Warren see Del Lao & W
Wash Cent See Nor Pao
92% 105 90
4 Wash 0& W See Southern
/
951
9234 Sale 21%
4 931
/
0012 1 921
4
/
4 901
/
4 93%
/
Aug'Ue ...• 85
93% Wash'fermi let gu 3423..1945 F-A 901
2 84 W23* 98
/
831
West Maryland let g 46.-1962 A-0 *551. Sale 1304
Luh19198 971
4107
/
1u3 stale 1.4/3
97
73
73
lu 0/
10521A-0
78%
&
(ion
4a
g
cony
871.114
aale
4
/
U71
2 981
/
9131
4
/
71
78
4
/
731
4 (i)
/
081
22 02
98% Sep'09
Trust Co certfs.
97%
1/6
4 Dou'oil •••• 881
/
1091.104
1001. Nov'o9
W Va Coat 48 51 lat g 13/1 1011'J •J
4 81/ 18 891
/
4 98'.
/
881
110 117
112 112 Dee'vb
Weet N Y &
'lac g 66-1937, -'51
94
154
114
94
14 901
4 06
/
99%
4 Jan'10 ....1 1 a?
/
1.101
80'. 1/2
Gen gold 4e
100
10118 Apr i/l)
41011
/
1011
4
/
34 Vel/'07 ......
4 Apr'ila .... 110 11:1
/
Income be
107 10S 1111
1943 N
81943
A Vv
.... 104 104% West No Car See South lty
,.
15
u/
epy:0
4
/
b.
1031
4%8 m
05
10
1• 1103 109
4 Dec'09
/
la./51
4 Wheerg & L 14 let g be. .1928 A-0
/
1041/4
103 1051
104
104
4106
/
10918 lob% 105 Jaz'10
Wheel Div let gold 66-11128 J -4
1031
1051
4 Dee'Vb
/
110
4
/
109%1101
Liven S. Imp gold 51930 F-A
4 110
1
4 1 lt)/
/
1091
90
87
14
.
.
10,j
42 IOU
1
/
ltki let coneol 4o---- ----104',) M-13' ST bale 87
4110 109 44 Nov't/9 .•.•
/
11/U1
90 Dee'08
93
LW
.
20-year equip s 1 53
-1942;4 -J
4 951
/
931
2 94
/
.
946
Wilke8 & East See Erie
112 118 110
17
pacuu
11..4j
°
°u
u:
104
11/712 107 4% W 11 as Slott" if bee St P M &
4 963,
/
W is cent 50-yr let eel'44 1949 3-4 94
04% 94
94% 19, 891
4 Aug'08
/
110'4 120 1221
..
M-N
VS
111,i 92
/3
1113
Sup& Duidie& term lot
1/13 Nov't18
921. U41.
112
1
Bid
104
••••
••••
••••
••••
••••
••
Treta.%7,'ottl g,
•
•••
••••
••••
••••
••••
,
19,4;
••
- ••
•
• 0000
4
,
aniot,ELLANEOUS
Manufacturing 51c Inditetria
941. 01
Armour &eo letrealeet4 126'39 1.
94 Sale 94
at tit bteet lit ext et 56..
2 28
/
4 881
/
881
" J-4
83%
91)4, 107
cebt Leather 20-year g 58.1025 A-i
Sale 99
4011
No7.
cent Prod lief of g Si,,,.194i 154.
27..
1413. 11
91
pi8t4IseoCor cony let g 56.'27 A-0
eu Electra: (sob g 3346..154, b'. A
82 Jan'10
10-yr g deb bs
4 1471
/
2 17
/
1914 J-D 145 18 Sate 1451
lot Paper Co let con g 64 191 F-A 104%105 11541
4 1114% 11
/
Consol cony 818 58
ti
4
/
891
1938 4-4
87 Sale 87
1
98
15,1 Sale 93
Int St Pump Islet
Lackey Steel let g 56
09'8 25
102; A-5) 9151
4 Sala 99
/
4 113 k.
/
A 17 A.ir Brake let cony tla '•2 M-N
114 1131
2 4
/
*tepubl&S let& coltr5s.198. A.0 11)3.58
1031. 1031
Union Bag tfb P let et iis..11135 J-J
97
4 Jau'10
/
961
"a Death Co a[deb gue..191' ra-N 1041
4106 105 Dee Nya
/
1% 481
4 sale 89'.
/
031
heady & Irony deb g 5s'2- J - J
U S Red & Ref let el g 68.193 J-4
1//)
88
ba
41
88
104 Sala 104
104'. it/6
1.1 S Rubber 10-yr coil tr Ue.'1 4.
i1 No price /friday; latest bid and asked this.week. a Due Jan
t.
For., Lxxxx.
BONDS-Concluded.
Manufactur;ng t1t InthIStrIal
4103
/
4 5715 1021
/
4 1051
/
U a Steel Corp-5 coup .81963 31-N 104% Sale 1041
4
/
5 101.88 1081
4 lo5
/
St 111-60 yr as. tog _8190
N 1t' t' '-tilt 1011
4 100
1
99
15 03/
vs 18
ira-oar Chem let 15-yr 53 1923 J -0 97 nale
8.5 90'. 94%
1/3
112
93
Westinghouse E S. Ms t oa '31 -4
92
ail:wedeln/Due
03
P2
94
03
9238
Adams ha cot Lr g 48
1948 v190
90 Dec'09
4
/
00
931
Bualt Terininal let 4e... 11/3, A-0
4 Oct 'int
1
0,/
911
4 118%
/
01
11/55 -J
Consul 3,8
4 iv5 100 Jan '68
/
1/51
ChieJo& t 1 ard col g 56 1915 37 Deo10.5
37
88%
Dot 31 & 31 gr inournes_1911
4 Deo'01,
1
1/3/
uk% 1)8
inetit for Irrig Was 4.4,6 11143 Al-N
1151.
,13. hill'. 77
703
70
7i) bale
Int Meroau ALtrine 4'n3,1922 A-0
83.2 811%
83 Jan'10
Lot Nu vigatiou lot et 53.192', F A
83
93
93
93 Ifte've
1)53 allIdu J -J
N ewp Au snip &
106,o
1)1
4 9384 Jan '10
/
N Y Dock 5u-yr 1st g 43 1031 F- A
041
90
90
DU Jun '00
Providence sec deb 4a
1957 vi-N
116
95
95 J'ly'09
Provident Loan sec 41
43 1921 .11-S
/
112 J'iy '114
i Yuba Witt Co con g 9s-11128 •
Due may g Duo J'ne it Due J'ly p Due Nov .Option solo
Due rob 4 Dee Apr
92% 96%
7'1
4
/
1101
961.101
95 100
4 781
/
731
4
/
50
84
138 165'.
101 1061
4
/
01
85
4 57
/
981
93
,
1/95
108 116 52
08 103
9 t38 93
tut 43108%
84% 152
89
95
102%106
..•
..•
.
••••
•- •
-•-
-•
-•
.
•
CHICAGO STOOK EXCHANGE-Stock Record-Dailv. Weekly and Yearly
STOCKS-HIGHEST AND LOWEST SALE PRICES
Saturday
Jan,8
Monday
Jan. 10
Tuesday
Jan. 11
Wednesday
Jan. 12
*185 195 *185 195 *185 195 *185 195
*2
21. *2
212 *2
212 *2
212
1)
*6
10
*6
*6
10
*8
10
107 107 *106 110 *106 110
*10812 109
*3312 35
3212 3212 3212 3212 32
321,
*18
10
16
16
1513 1512 *15
17
*9
10
9
9
*812 912 *812 912
434 434 *412 434
434 434
478 973
*35
3712 *35
3712 36
36
35
35
*73
75
7012 73
70
70 *88
703g
*1612 19
*1612 19
*1612 1711
*1612 10
*5412 5512 55
5412 *5312 55
65
54
*17
18
*17
18 *17
1$ *17
18
*60
68
*61) 68 *60
68
*60
68
5512 5512 *55
*5412 5512
56 *55
58
4812 bl
4612 4718 46
4714 49
4812
4101 105 1'101 100 *101 105 *101 105
Thursday
Jan, Li
Friday
Jan. 14
Last Sale 185 Dee'09
Last Sale 212
Jan'10
Last Sale 712
Jan'10
10712 10712 *101
110
32
3214 3114 3138
*15
17
17
*15
10
*812 912 *8
5
434 434 *412
*33
36
34
34
72
*72
75 *70
*1612 1712
16
16
5312 5312 5312 5312
Last Sale 18
Dee'00
Last Sale 70
Aug'09
55
55
55
55
4634 40
4334
45
Jan'10
Last Sale 104
Sales
of the
Week
Shares
STOCKS
Range for
Year 1302
CHICAGO STOCK
EXCHANGE
Miscellaneous
1212 134 2,415 American Can
134 1253 13
100
7834 8034 1,580
7918 7914 81
Do pref
100
Last Sale 22514 Oct'09 .- American Radiator_ _100
._
Last Sale 130 Dee'09 __
1-33
Do pref
100
784 *77
328 Amer Shipbufiding_100
78
7812 78
116
__ *112 115 *112
110 Do pref
100
13814 13812 1,075 Amer Telep & Teieg
1-3-012 *139 140
June'09 ___. Booth (A) & Co
Last Sale 18
.........
100
Lae sale 14
June'09 ___
Do pref
100
-ai- If' ;51 -31- "5/ -3-7-- "iii" -311-2 38 38 3634 38
305 Booth Fisheries com_--*7112 73
72
7312 7212 7212 71
71
72
7213 6912 72
668 Do pref
*52
54
51
51
*48
50
50 *50
52
52 *48
54
248 Cal & Chic Canal & D_100
*1
118
1/
14 *1
1
4 *1
14 *1
Last Sale 1
Nov'09 ___ Chic Brew'g & Mait'g-- _
*2
*2
3
*2
3
*2
3
3
Last Sale 212
-_
Do pref
40
43
41 Nov'094012 4012 4034 4012 4178 4112 4234 42
42
2286 Chic Pneumatic Tool_100
13012 136
135 13512 13412 13412 133 133
131 132
131
131
625 Chicago Telephone-100
Last Sale 24
1
lielf08 ___.
---- ---- ---Do rights
4iii" fir ii3- 1-4-r *144 145
*144 145
144 144 *140
145
166 Chic Title & Trust___100
121 121
121 121
121 12112 12112 12112 12112 12112 12012 12114
570 Commonw'th-Ecilson_100
2212 2234 __
_ ..... ____ ____ ____ *21
23
2114 2114
450 Corn Prod Ref Co com
_ _ _Last Sale 8814 Oct'09 ___
Do
do
pref
2 1-2-7-- iii- 1-27- 127 127
ii(-11
.
126 12612 125 12612 12412 12512
516 Diamond Match
100
81
81
80
80
7712 79 , 78
77
76
7712 76/
1
4 7714
847 Illinois Brick
100
*43 _..... *43 ...... *43
*43 ___
Last Sale 46
Jan'10 ..._ Masonic Tempie
Last Sale 218 June'07 ..... Milw & Chic Brewing
.
9- :ii- IC' ;ii" 'Yr ;ii" 16iii- -2
Last Sale 20
Nov'09 _,
Do pref
4115 116 *115 116
115 115
114 114 *113 115
226 National Biscuit
113
11414
100
124 124
124 129 *123 124 *123 124
124 124 *123
125
92 Do pref
100
111
111
111
111
110 110 *10019 11012 *10012 11012 110
110
96 National Carbon
100
4120 121 *120 121 *120 121 *120 121
Last Sale 12212 Dec'09
___
Do pref
100
11418 115
11412 115
11312 114
11334 11334 11334 11414 11278 11414 1,225 People's Gas L&(oke.100
Last Sale 11-16 Meh'00
___
Do rights
16134 1621-2 1611-2 1-6-i- iali aft; Fiiiii iiiir 15613 159
15612 15912 5,932 Sears-Roebuck cOm--100
*121 12114 121 121
121 121 *121 12114 12078 12114 12118 12113
148
Do pref
100
10918 10938 10912 10958 1094 10033 10918 10914 109 10914 10878 10918 2,778 Swift & Co
100
Last Sale 7
Feb'09 ___
Do rights
,
--- ---- ---- ---- ---- ---- ---sioo- 1-62 *16178 165
103 163 *16078 165
162 162 *160
163
27 The Quaker Oats Co_ _100
•105 10512 105 105
10512 10512 105 105
105 105
105
105
01
Do pref
100
Last Sale 112
Apr'09
_ Unit Box Rd & P Co_100
---Last Sale 3
Apr'09 _.__
Do full paid
Last Sale 734
Apr'09
...
Do pref
100
124 1314 1314 1312 13
13
13
13
*13
1312 1234 13
2:763
Do full paid
2112 2112 2112 22
2138 22
22
22
20
20
20
20
529 Western Stone
100
Chicago Bond Record
Price
Friday
Jan 19
Week's
Range or
Last Sale
Lower
778 Jan 30
7134 Jan 6
200 Jan 19
126 Jan 21
544 Apr 21
101 Feb 29
139 Aug27
18 J'ne 10
14 May22
10 May24
48 J'nel6
5114 Jan :
1 Apr 27
218 Apr 27
20 Mch24
127 Jan 4
1514 Nov19
86 J'ne 4
22514 Oct 29
13'2 J'ly 21
8118 Dec 11
112 Sep 13
145 Nov20
1 Jan 2
6 Jan 5
40 Dee Y7
754 Dec 27
68 Apr 16
1 Apr 27
212 Nor18
42 Dec 14
140 Sep 23
117 Jan 18 152 Oct 7
107 Jan 21 1214 J'11 1
174 Feb 25 2513 Aug 3
7014 Mch25 8812 May19
117 Jan 9 13034 Aug13
38 Jan 26 884 Dee 8
43 Jan 5 47 Sep 16
20 Nov17
9778 Jan 2
11814 Feb 15
82 Jan 14
110 Jan 15
102 .lan 5
12 Feb 25
55 Jan 6
101 Jan 5
10012 Jan 9
6 Feb 5
119 Jan 5
9812 Jan 2
58 Feb 19
214 Feb 26
334 Mehl°
1012 Mch 9
15 Feb 16
21 J'ae28
11914 Sep 27
130 Sep 21
10812 Dec 31
124 Nov16
11973 Aug10
1 Mch20
16912 Dec 11
12134 Oct 20
11414 Aug 6
20 Jan 18
162 Dee 23
105 Doc 29
158 Mch26
818 Mob I:
912 Jan 4
20 Nov 4
25 Mohl5
Highest.
160 Jan 185 Dec
153 Feb
318 Aug
612 Dec
10 Aug
8434 „rue 119 Nov
38 Oct
47 J'ne
20 Nov 23 Dec
934 Sep
1312 Dec
15 Feb
3012 Deo
30 Oct
4734 Nov
68 Sep
8612 Nov
1214 Nov 19 Jim
42 Jan
54 May
1.134 Aug 22 Dec
46 Aug 6212 Dec
92 Aug
71 Jan
2612 Apr
34 Nov
85 Apr 103 J'ne
4 Feb
1038 Nov
411. Jan
7678 Dec
125 - Jan 200 Dec
116 Apr 12814 Nov
37 Mch 63 Nov
91 Jan 104 Nos'
/8 Dec
3 Dec
80 Jan
100 _ May
40 Feb
5714 Dec
1 Oct
118 Aug
2 Nov
4 Apr
20 Dec
3012 Aug
106_ Jan 153 Sep
34 Feb
234 Feb
100 Jan 110 Dec
80 Jan 11c) Oct
113 Jan 137 Aug
30 Jan
9212 Dec
38 J'ne
46 .i'ly
19 J'ne 20 J'iy
70 Jan
97 Dec
10134 Jan 120 'us
61 Mch 87 Deo
91 Mch 115 Nov
8013 Jan 106 Deo
24 Jan
72 Jan
8812 Jan
50 Deo
102 Dec
10534 Sep
11434 Jan
87 Jan
I. J'ly
134 Jan
IOU J'ly
134 Jan
112 J'ly
12
Jan
1134 Oct
17
Apr
Chicago Banks and Trust Commies
BONDS
Interest
Period
Billies,
Lows;
Railroads
_-_ Chicago City By
100 180 Mch 8 190 Feb 3
--- Chicago & Oak ark 100
112 Oct 22
4 Jan 22
...._
Do pref
100
5 Oct 21 15 Jan 22
20 Chic Rys part ctt "1"...... 9778 Dec 7 11012 J`ly IS
320 Chic Rys part ctt'2"-- 30 Dec 13 4534 Jan 2
135 Chic Rys part ctf "3"___
1012 Dec 13 SO Jan 29
174 Chic Rys part ctt "4"......
8 Dec 1
1312 Jan 2
115 Chicago Subway
100
314 Dec 1 2914 Jan 2
75 Kans City By & Lt-100 30 Dec 21 52 Ply 7
39
Do pref
100 78 De,c 11 8613 MaY18
10 Metropol W S Eley_100 15/
1
4 Sep 13 1912 Dec 17
471
Do pref
100 97 Jan 14 69 Deo 20
-- Northwestern Eley
100 17 Nov17 25 May 6
..-Do pref
100 63 Jan 6 73 May 7
25 South Side Elevated_100 50 Jan 25 61 May 7
5.178 Streets IV Stable C L.100 2914 Apr 13 5412 Dee 13
-. Do pref
100 97 Feb 15 103 Doc 1
1314 1312 1338 1358 13
1314 1278
8013 8034 794 80
8034 81
79
4214
_ *214
- *214
- - *214
1 *130 1-3-3 *130 -33- *130
*130 1-31
*7814 79
*78
7812 7813 7818 *78
4111__ *112
_
11112 112 *112
4140 1:4-012 140 5)44,13919 140
13918
..... ---- --- _...... -___ ....... .......
CHICAGO STOCK
EXCHANGE
Week ending Jan. 14
range for Previous Yea
(1908..
B'ds
Sold
Range
for
Year 1009
NAME
Outsandfag
Stock
I
Surp.us
and
Profits
I
Dividend Rerord
Ix
1908
In Per- Last Paid
1903 tad
%
.-•
High No. Low
Low
High Calumet National
$100,000 1339,008
6
0
An Dee '03.6
Amer Strawh'd lst 6s 1911
-A
100 Meh'07
Chicago City
500,000
207,686 20
10
J4 Jan '10,5
Armour & Co 4 5is_ 1939 J • I) -94-- 931. 967
S-a-le 0412
9412 26
Commercial National._ 7,000,000 3,382,172 st12
all.Ian '10, 2
Aurora Eigin&Chic 5 1941 A - 0
Continental National- 9,000,000 4.919,886
8
8 -Q-J Jan '10, 211
Cal & So Chic By Co
Corn Exchange National 3,000,000 5,310,183 12
12
Q-J Jan '10, 4
1st M 59
1927 F - A
102
102 rne'09 _
109 10212 Drexel State
200,000
29,247
6
9
A-0 Oct '09, 5
Cass Av & F G (St L) 5.3'12 J - J
10114 Oct'09
101 10114 1)rovers' Dep National000.000
382,087
934
10
Q-J Jan '10, 211
Chic Board of Trade 431927 J '
03
104 31a1y
017
11;2_3_4
8
Englewood State
200,000
32,003
6
6 (14 Jan '10, III
Chicago City By 5s__1927 ,
- .-- las
I - A 10275
105
First National
8,000,000
8,254.451‘
12
124 Q-51 Dec 31'09,31
Chic COI1401 Br & Mlt Os__
- J
-- 103 Apr'04 First Nat Englewood_
150,000
167.011 10
10
-NI Dec.31'09,211
Chic Consol Trac 414s 1930 J - D -------- 50 Apr'09
Id" 16" Foreman Bros 11'k'g Co_ 1,000,000
.503,012 Privkite Ba k
Chic Auditorium 1st5s1029 F - A -------- 9634 Jan'06
Port Dearborn National 1,000,000
377.987
8
Q-J Dec31009.2
8
Chic Dock Co 1st 43._ _1920, A -( -- -Hamilton National__
500,000
157,069
5
5
J4 Dee31'09.212
Chic Je itit 1st Mg 5s_1945 M -- 114-12- Dec
-1(-)9
941f 941, Hibernian B'k'g Asen.: 1,500,000
837.615
8
8
Q-J Dec31'09,2
Chic No Shore Elec 85.1912 A 87 Feh'08 2-Kaspar State Bank____
200,000
132,458 10
20
J-J Ian '10, 20
Chic Poe Tool 1st 5s_a1921 J - J
843/
85
513 Live Stock Exch'ge Nat 1,250.000
17
2
- 13467,28910+2
10 I -II 0ec31'09,213
Chic fly 5s
1027 F - A 10114 431( 10118 10133 29 10034 1023/ Monroe National
300,000
64,001
4
4
Q-I. c.'ov 1 '09,1
Chic flys 4-5s series "A" A - 0
951
95 Dee'09
9313 0614 Nat Bank of Republic
2,000,000 1,153,355
8
8
Q-J Deal t'09,2
Chic flys 4-5s series "B" J I) 3514 8578 8578 Jan'10 ____
8414 8912 National City
1,500,000
508.725
2
6
Q-J .lan '10, 111
Chic Rys 4-5s series "C" F - Al
9214 0134 Dee'09 _924 National Produce
89
250,001
69)979 ......
3
Chic Ilys coil 83_1913 F - A 10078 -___ 1
Q-5 Bee31'09.1
1 22iD
uee
ly.,
'
0
09 ._ 10078 10238 North Avenue State.-200,000
68,637
234
63.4 Q-5 Jan '10, 113
Chic Ilys Fund 63_1913 F - A
10112 10238 North Side State Say'
50.000
18,707
6
6 (44 Jan '10, 111
chic Rys Tern Ctfs 1st 53
10113 Dee'0910034 10212 North West State
1007
200,00)
._ ... _ Q-.1 Jan 1510,1
Chic It I & P RR 43_2002 M - N6612 Aug'08
People's Stk Yds State_
300,000
65,305.11-w. bus. No v'00 v.89, p.132(
trust g 5s,._,1013
- S
6612 July'08
Prairie National
250,000
74.831
'Chic Telephone 5s_ _ __1923 .1 - I) 1-03-I-3 1-03-1-2 10314 1031,
5 1624 10334 Prairie State
500,000
60.221
6 *.II Dee31'09,111
2
Commonw-Edison 53_1943 M - S 102.34 Sale 10234 10278 27 101 10314
Railway Exchange
250,000
15,702
2
None -- Jan '08. 2
Chic Edison deb 68_1013 J - J
_
IOU 3'110'08 .._.
Security
300,000
Dec31'09,111
160,920 .....
1st g 53-July 1928 A - ():foci" -___ 10018 Jan'10
far
161
4
South
Chicago
Savings200.000
20.0
6
114.-6
-Q-J Jan 10, 11;
Debenture 5s......_1920 M - S .10058 Aug'09- 10058 1024 South Side State
200,000
eg.
bele.
5,61
Sep
t.'09
V.89,
p.811
CoMmonw Elect 5s1/1943 31 - S ti9252 103
10258 Jan'10..- 102 10353 State Bank of Chicago- 1,500,000
1,557.135s 11
12 ‘14 Jan '10.3
I linois Tunnel 53___1928 J - D l
-- 80 Dee'08
Stock Yards Savings
8 •-II Dec.31'09, 2
250,000
1
177,358
Kan City Ily & Light
Union Bank of Chicago_
37.761,
200,000
2
6 i -N \Toy '09,3
Co 5s
1913 M N aw..
9614 Dee'09
9614 9834 %Vendell State__
50,000
omr 6 None •-M Dec31'08,111
Knick'b'ker Ice 1st 53 1928 A - 0
96 Mcle09
1
95
96
American Trust Jc-Savs.. 3,000,000
6
81.834
Q-J July '09, 2
il
Lake St El-lst 53.-1928 J
85
"We 85
85 ....
J
73
91
Central Trust Co of III_ 2,000,000
891,740
7
1
Q-J Jan '09, 13,
Income 58
1925 Feb
16 May'05
Chicago Say Bk & Tr
103.691
134
n500,000
6
Q-J Jan '10. 11;
Lletr W Side ElChicago Title & Trust
5,000.000
Q-J
15
r1.373-397
Jan '10, 11,
6
1st 4s
1038 F - A 8319 Sal', 8312
14
84
8214 8613 Citizens'Trust & Savings
6.959
50,000
4
4
A-0 Oct '09, 2
Extension g 4s____1938 J
J 80
81
8078 Dee'09
8012 8414 Colonial Trust ee Savings
600,000
507.058 1+2 1+2 Q-J Jan '10, 24
Morni • & Co. 4 14____1039 JJ t 03
Sale 03
58
9314
Drovers'Trust&Sasdngs
103,068
200,000
741 8 (-14 Jan '10,2
North %Vest El 1st 4s_1911 of - s 0534 Bale 9534
9578
9214 9612 Farwell Trust Co
3
1,500,000
209,387 ......
3 c9-5 Jan '10. 11,
NO %V G-L & Coke Co 53'28 Q M
9834 Dee'09
98
99
First Trust & Savings
2,000,600 3,083,5481 ---12 Q-61 Dee31'09,1
Ogden Gas 53
1945 31 N 941 s,
08
,lo 944
03
4
9418
Guarantee Trust & Say_
200,000
14.013Ineorp orated 1906 V.87,p.1138
Pearsons-Taft 5s
1916 J - D 9534 -- 10033 Mch'09
10014 10012 Harris Trust & Savings_ 1,250,000 1,167,360
0
934 Q-5 Tan '10,71
4.403
If. S 96
08
90 Nov'09
96
Illinois Trust & Savings 5,000,000 8,460.043 16+4 16+4
q
an '10, 4
4.80s Series E
It - N 97 -- 98 rne'00
Kenwood Trust & Savgs
209,009
55,512
6
63 Q-5 Jan '10,114
4.80s Series F
- N 0812
101) hich'09
10
98
097
0 19
018
3 LakeView TrustJcSavgs
209,000
36,797
414
5
Q4 Jan '10, It4
Peo Gas I. & C 1st 63.1943 A - 0
1213/ May'09
120 122
Merchants' Loan &Tr Co 3,000,000 5,301,26.1 12
12
Q-J Tan '10,3
Refunding g 5s____1947 II10314 10312 10314 1)ee'09
IfetropolitanTrust&Sav
750,000
252,043
8
6
Q4 Ian '10, 113
Chic (Ins L&C 1st 581937 J - J 11044 Sale 1044 1044
05
4
78 19
Northern Trust Co
93
5 10
234
1,500,000 2,160.762
1
8
Q-J Jan '10,2
Cons= Gas 1st 54_1936 .1 - I) 10238 _.. 10233 1021, 15 102 10234 North-Weste
Tr&Sav.
rn
203,000
57,7e
6
6
J4 Jan '10,3
Mut'l Fuel Gas 1st5s1947
N --- 102
10112 102
Pullman Trust de Saygs.
10112 Dee'00
500,090
139,967
11
Q-J Ian '10,2
8
South Side Eley 4 10_1924 J
J
9412 94
Bank
Sheridan
Say
04
200,000
9313
6
&
Tr
961
4
24,974fBeg. b us. J'iy 12'09 V.89,1).141
Swift & Co 1st g 53_1914 J - J 10012 -- 10078
102
Stockmen's Trust & Sat'
10078 10 100
230,000
32,13.
' 6
5
J4 Jan '10, 21
Union El (Loo)) 63_1945 A9212 88 -Nov'09
Union Trust Co
1,200,000 1,077.943
II k8-1-2
-M Dec31'09.2
Union Pacific cony 43_1911 31- N
%Vestern Trust ..t Savings 1,009,000
114 Noy'04
8
.8
96
210,833
6
Jan '10.11 2
Q-J
6
United Box Board col 69'26
-77.1- 81 89 Dn'00
West Side Tr&Sayllank
200,000
70,164 Began busine ss Se Pt 5 1005
General mtge 6s
I 7512 80 Nov'09
-7
70
914
- -817 Woodiawn Tr&Sav Ilan.,
200,000
39,2394 6
Western Stone Co 54_1900 A -(J
Q4 Jan uo,8
6
July'08
8512
Note.-Acented interest must bjnaile(ri; all Chleazo b ond pri ces.
'
Bid and asked prices: o sales were mani, on
day. 'Nov. 10 (close of business) for national banks and Nov. 17 (opening of' bush:lets) for State
institutions. tNoIn-ice Friday: latest price this this
week. a Due Dee, 31,
Due June. k Also 20% in stock. n Capital and surplus to be increaselk
0 Dividends are paid Q-J, with extra payments Q-p, r as at dat Apra 29 1939.
s In addition the equivalent of 4% more came from First TIM
& Savings Bank. f As of date Sept 1 1000. u Stock increased
in 1003.
v In additio tic Lquivalent of 1% canto trona First Trust & Say. Bank
Bid
Ask
BOM:ON STOCK EXCHANGE-Stook Record, Daily, Weekly and 'Yearly
SHARE PRICES-NOT PER CENTLIM PRICES
,
• Monday
Jan. 10.
Saturday
Van. 8.
Tuesday
Jan. 11,
Wednesday 2'hursday
Jan, 12,: Jan. 13
sales
o, the
Friday . Week
Jan. 14
Shares
STOCKS
-BOSTON STOCK
EXCHANGE
Range for Year
1909
Lowest
Highest
oroe8lous Year
flange ioraP
Lowest
highest
.
Railroads
6758 Feb 10114 Dee
123 123 *1201412012 12118 12112 12053 1203F 11878 12058 . 130 Atch Top & Santa Fc-100 93 . Jan 13 '12518 Oct 2
*12231 123
831. Mch 10414 Deo
105 J'ne 7
100 10034'Jan
___ , Do pref
Last Sale 10414 Jan'10
*16373 10478 *10413 10512 810312 10412 *10314. 10414
100 225, Jan 4 23914 Apr .8 1811; Jan 230 :Deo
-218 Boston & Albany
' 232 23212 23234 234
233 23334 23312 2331: 232 23212 232 • 232
100 12414 Jan 7 135 Dec 30 12112 Dec 140 Jan
900 Boston Elevated
13512 138 , 13512 13512
135 136
13412 135
13514 13514 13434 135
100 2231. Deo 16 235 Mch 19 20014 Feb 228 Dec
50 _Boston & Lowell
__ *225 • __ 228 '228 1,22() . __ ...,..
___ 225
-8225
- Jan 2 153 Nov 4 114 Oat 140 Jan
100 13212
292 Boston do .Maine
150- 5'6"
148 '148 . *148 1-510
148 . 1-4-8 . *147 11-8
*147 .
148
100 151 Feb 26 160 Apr 3 136 °Feb 156 Jan
Do pref
Last Sate 152 July'00
____ ____
301 Jan 9 284 Jan 301 Nov
Last Sale 298 Dec'09 -15 Boston &.ProvIdence_100
_ *Ni- -7*Hi ig" 298 298 *293 - ,
4 22 Feb 3
etpi. 12
Ja
134 S
15
0 Mch
13 Mch
325 Boston Suburban El Cos_ 29
16 • 16
18
1512 Yo
16
*15 -1-8
15
15'
*15 - 18
Jan
48
5
'
:7712 Nov 4
51. Janv 58 Nov
pref
6012
Do
',
*74
_
74 • • *74
- '74
_ *74
'874
o°
n
eeeo
Da
J
JD
1412 Mch12
Boston & Wore Elec Co:..
Jan'10
Last Sale 113--1112 *10 11-12
*10 •• 1112 *10 11-12 *10
.
5514 Oct 7
47IY Dec
Do pref
-0
-5
47
47 *
46 *
*45
47
47
*45
cY2
u
162
ca
J'nc23
a
1l
AD
1)
.
(
15
2
612
0
-------1
:
n
102121
a
J
-13
4
By
14
a
-&
.
,
2
4
1
Chic
Juno
n
----.
USY_100
__
----2
5
6
1
_-2
,
14
71:
0
10
.
-------154 154 *15312 155
100 115 Nov 5 123 J'ly 6
Do prof
184
11712 118 , 11712 1712 --- ....-- 11712 ff712
117 118
1.13-- Jul-y-',55 ____ Con & Mont, Class 4 100 170 Jan :6 173 MO 5 163 Dec 165 - Mch
, ---- ---- ---- •---- __-- ---- ---- -- 'Last Bale 13912
Apr
138
Mch25
2
14212
Jan
13314
Sep
139
Pass
MY
Last Sale
pref_100
*
Conn
June'09 _
Jan15 275 Mch10 244 Jan 263 Dec
'
100 267
' Last Sal,? 270
Connecticut River
Oct'09
Jan
Nov
117
133
Feb
5
136
100
Nov11
12812
pre
-244
213
130
12912
1
4
Fitchburg,
130
HT
.12034
fioli
*igi"
iSi*Mr
-2
3
1
4.31.- ,
88 Dec
67 Apr
100 75 Jan 5 103 Dec 22
70 Oa By .30 ElectrIc
*104 10512 *104 10512 *104 10512 *104 10512 104 104 • 104 • 104
85 Dec
•
81 Oct
100 79 ' Jan 14 8812 See 15
Last See 8812 Dec'09
Do pref
• ,1,871q.---'.. *8713 -- *8712 ____ *8712 ____
_
100 195 Oct 11 19514 Jan 13 193 Nov 193 ' Nov
Last hale 195
Oct'09 ---- Maine Central
Nov
814 Jan
100 1114 Jan 12 -19 Oct 1
__- 191-2 1834 19, 1812 1914 36.50 Mass Electric Cos
18.18 181. -ii- -fit:, 'ii" 18- -iii
123.1 Nov
64
100 5812 Jan 15 84 Nov 3
40 Jan
Do pref
721
811; 8014 8012
80 • 8034 81
80
80
80
-*80 '8034 • 80
8
Nov
Nov
17478
.
157
157
15714
&
14
128'
181
.1a,i
H
J'ne
N
Hartford_100
1571,
15712
•
5153
Y
N
157
1,611
15,03
1573._
15718
: 15712
4 1571
1
''• 157/
100 146 Feb 4 149 Aug 9 140 J'iic 145 Apr
ern N H
• Last Safi 149 AuglrNorth
__
Norwich & Wor pref_100 '200 Apr 13 215 Sep 2 200 Apr 205 Feb
Last Sale .10 Dec'01,
•
100 190 Dec 8 20018 Jan 18 175 Jan 19618 Deo
Old
Colony
7
7.
7
'
155199
Rib
f"193
16554 2-6(1 165"
*......, 200
31 Dec
100 26 Apr27 '40 J'ne 5
25 Jan
Rutland'pref
15_34
34
____----------------- -------------70 Feb
95 Deo
100 , 9014 Mch • 2 11712 Aug 16
.2 Seattle Electric
11512 11514 11514 *11518 1512 11514 1-1-514 ,_ _ 1152
*,...
Aug31
Apr
5
.
Dec
8
107
971.
883
102
Jan
100
Do
pref
32
4
1071
10438'
1041;
10414
10412
*1043
8.10412
', 10412 10412 *10438 1041r 10438
6 2
117
83
4.1o
144.
ug10
5 17
142 Mch 18558 Nov
03
18
100 z1727i Feb 22
200 20034 19878 1995F 199 1993.: 10612 1971; 19478 19614 . - 761 Union 'Pacific
202 202
Apr .9733 NOV
100 . 931. Mch
Do pref
Last sate 10335 Jan'10 ' 1:___
*10212 1031: *10213 1031: 810212 1031; *10112 1021:
100 185"Jan 20 175 Apr 17 150 Jan 161 Nov
Vermont 60 Mass
Last Sale 168' Jan'10
•
911. Sep
50 88 -Jan 2 9818 Apr 23
76 Jan
__
1 . "555 West End St ••
2 "iiir2 "6472 *94.
. ;5-1-- -65-' 94. . 9412 "iii2 -9-41
50 10z - Oct 12 112 'Apr 27
Do pref
Ofi Jan .110 - Dec
19
7 -2
712 1094
" 40
94
.... *106 __-_ :406
*106 -__ 107 , 107 ' 8106
J'ly
12
&
Nash
Wore
Mch
138
_L__
. Mch
May19
144
140
146
Roc11-100
145
Juir09
‘Wire
.7.a.31
-__-.
Miscellaneous
Jan
2
35
Chem
Nov
Agricul
Amer
100
Jan
5014
Aug
3314
12
13
1,782
4614
47
97
9612
47
48
4812
48
4878
48
4714 48
100 94 Jan 18 105 Ply 23
77 Mch .96 Nov
Do pref
433
10212 103
10212 103
10212 103
103 103
102 103
103 103
12 Deo
4 Feb
558-Jan 26 . 978 Feb 23
50
'OF 1,443 Amer Pneu Service
7
714
73e
7
712 712 *712, 734
8
7
718
9i. Feb
23 Dec
50 13 Jan 13 2212 Nov 1
0 D sugraert
803
1834 191,0
1878;- 19
19
1_2_4_ 3
20
20
• 2014 . 2014 20
99-ii Jan 13758 Nov
Refln
Amer
100 2114 Nov30 138' Apr 8
122 12214 122 • 1221: 122 12212 122 12334 12212 12312 123100 2117 Nov30 131 Apr 13 106 Feb 132 Nov
Do pref
12234
601
122 123 • 122
122. 1221- 122 12214 122 '123
12112 122
99 Jan 13212 Nov
13934 6,751 Amer Telep & Teleg-100 12514 Feb 1 14518 Sep 29
140 14012 140, 1407.; • 13912 140 . 13033 13978 13914 13934 138
3238 Dec
100 2712 Feb 4 4018 Aug27
16 Jan
34
34
36
35
35
36
*34
*34
87 American Woolen
4'36:7.1 3612
7734 Feb
9612 Nov
100 9312 Jan 15 108 J'nen
830 - Do pref
10212 103 • 10213 103
10212 103
10212 103-- 10231 103
103 103
3 Jan
334 Apr 1
10
417 Deo
814 Oct 26
490 Boston Land
714
7
812 81: *712 8:.
*712 812 *712 1!
9612 Jan 128 Nov
370 Cumb TeleP do Teleg-100 125 Jan 25 14712 Nov 9
144- 14714314 14312 *143 144
1431244312 14312 143:: *14312 144
1434 Jan
onv
211i% ge
10 Dominion iron 60 Steel-- 181. Jan Il 7134 Deo 11
6913 6918
*7114 ' 72 *7112 '. 721f *7112 7212 1,7113' 7212.._• _fil._
7 - Jan 4 1378 J'ne 9
414 Mch
805 East Boston Land
_
- ___
1
11
1112 11
1114
11
*11
1
1114 111.
•
482 Edison Elm Illum---100 245 Jan 2 260 Apr 7 201 Meh 253 Nov
24534 2461. 248 24614 r244- 24-4-24612 247
247 247 - 247 247
100 15038 Feb 24 173 Aug 7 111 Jan 162 Deo
327 General Electric
157
159 . 15912 158 1584, 15812 1581; 15714 15778 154
*159 160
49 Mch 60 Dec
2.238 MassachusettsGasCos 100 59 Jan 5 • 8334 Dec 22
80
-80, '• 8078 80
81
801: Fl
8114 8112 8078 8114 80
90 Nov
77 Jan
Do pref
100 89 Jan 5 97 Apr 23
1,092
95
95
9412 9434 95
94
*9312 0434 9378 94
9234 95
Apr 215 Nov
16
Dec
Mch12
192
20212
Lino..-100
22014
Mergenthaler
10
'
'
216
*21512
216
2
*2151
____
*2151.
:
: 2151. 2151
*215 2151
3, Oct
1 Mch
2 Jan 5
314 Oct 15
312 1,081 Mexican Telephone.., 10
234 334 *314 3!: --ar3
31:
.,271 3
*
3 • 3
*27
40 Mch 78 Nov
68 j
Apr 24 125 Oct 26
100 16
302 N E Cotton Yarn......-1
12313' 124
12314 124
123 123
12212 12212 122 12234 • 122 123
Dec
93
Jan
75
2
93
Mch
16
pref
Oct
118
Do
249
115
115
115
115
115
115
114 1141:
113 113
Pa 12614 Jan 5 139 Sep 20 105 Jan 128 Nov
232 N E Telephone
137 137 1,___ 13634 .,_ _.: 13834 136- 13-612
137 137 . 13634 137
511. J'ne 79 Dec
__ Pacific Coast Power_100 75 Feb
ao _q 108 Oct 13
-Last Sale 100
Jan'10
_..: ,*98 __-_ •*98 101
. *98 101.. *98
56 Pullman Co
30 199 Aug 7 147 - Jan 1741. Nov
189
189
191 191
191 191 . 191 191
. 491 19112 190 1-92
934 Jan 11 12 Sep 29
9 Apr
1013 Nov
_
__
25 Reece Button-Hole... 10
1112 ill!, 1134 1134 *1114 12
. *1114 1134 _*1114 :12
&
Swift
100
Jan
9 11413 Aug 6
Co
100
881.. Jan 10812 J'ly
1,286
10914
ibi109
10914
10812
109
4
3
109
109
10934
10912
.
10912
'109
A
25
2012
Class
May21
34
l'orrIngton,
Deo
27
20
"Jan
24 Oct
95
34
34 • 34
34
*3312 34
34
34 . 3414 34
25
2414
Jan 29 35 Nov 8
Do pref
16
23 May 261. Dee
-N
. -11*2713 23
*2713 28
*2713 28
2712 271; *2713 28
1 Jan 26
2 Apr 2
114 Mob
_ Union Cop I.'d 6: Wg. 25
212 Jan
Dec'09
Lad Sat, 158
100 12612 Jan 13 170 Deo 22 11412 Jan 148 J'ly
'IA United Fruit
167
-1.';- ;
- 7- f -......--- 117-- 16612 166: 167
1.7-1-: .,,,
lf2 1-87.
15554 ai'- lE
6238 Nov
3812 Jan
2,604 till Shoo Mach Corp-.. 25 254 Mehl!) 71 Oct 7
6813 69
6838 6835 681-8 6834 63 '687;
6812 69
61.34 69
25 281., Jan 11 3114 Sep 21
2478 Jan
30 Nov
301.• .._- __- 1,070 Do pref
30
30
301R 30
-30 - . 303,:. 3018 301.: 30
5834 Nov
26 Jan
100 413:i Feb 24 .8
Corp
947 Oct 9
8612 873,; 86 ' 8734 8534 871; 8434 8714 14,700 U S Steelpref
8714 887
8778 PO
Do
100 107 Feb 23 131 Oct 4
303
871, Jan 114 Nov
12313 12378 12314 1231: 12313 12312
12412 12412 12438 124,:, 123 123
912 Nov
11
Feb
"
4
22
Jan
19
Dec
63
613
West
Teiep
Teleg-100
752
17
17
17
18
• *17
17
1714 17
17
17
17
17
8014 Dec
59 Jan
100 76 Mch 3 96 Dec 20
Do pref
54
94
94
: 9314 931: *9313 94
9314 931
94
9314 9314 94
Mining
25
478 Oct 28 1012 May28
112 Feb
1214 Aug
712
61:
£14
818 9,385 Adventure Con
7
612 7
6
VI 61.,3
•6 • 6
25 34 Jan 29 62 Oct 1
4112 Nov
24 Apr
635 Allouez
5412
54
52
52
55
5334 54
55
55
5512 551r 55
881,
Nov
45
Feb
Copper
9612
Nov19
26
65
Feb
100
8678
Amalgamated
14,194
83
8434
863;
8618
875R
8678
8712
8812
8738
8814
88
30 Joe
2034 Jan
2,100 Am Zinc Lead & Sm.- 25 23 Mch27 401, Dec 27
3814 3'712 38
381: 3712 3812 38
391: 38
7512 3914 38
25 3818 Feb 26 54 Dec 30
53 Nov
28 Feb
16 Anaconda
5212 5212
14 Jan
4038
IA
. -.-r3
77-1-3 8,740 Arizona Commercial_ 25 30 Feb 26 5134 Dec 30
-.
4 -46r3 -41:-Iii4 iiii 4734 4812 -471-4 18125 .30 Dec 14
1 Feb 17
,, Arnoldt ineaont
40 Feb .
_
114 11,
4 0
4 1
.
fi.1.
.
.
114
1 •
.99 ..99
1
1
.80
*.80
25
8 J'ly 16 18 Jan '2
8 Apr
1. AugDecio
1134 1012 113.z. -i1r4
11
115F 11
11
11
1173 12
a (Dev Co)
Ic
Bonanza
10 .45 Feb 16 sO May 7 .25 Oct
.55 .55 8,50 .60
.50 .55 *.50 .55
*.50 .55
v
8 Nov
511014 Apr .7
18
-108 WIT: 3,843 Boston Con C&G(rcts) /1 1034 Mch15 2312 Deo 13
2012 21
2058 21
22
2112 2112 2112 211.. 21
J'ly
14
24 Dec 30
25 Nov
1114 Apr
5 1718
221: 2212 2313 23
24 14,148 Bos&CorbCop&SI1Mg
*2213 2234 22
2414 23
' 2213 23
24 3358 Nov19
Feb
1512
Coalition
15
Jan
30
Butte
Aug
2138
27
2578
3,10.)
2712
27
2712
2712
273.:
2712 2818 2714
2714 28
93 Feb 130 Aug
9712 2,606 Calumet & Arizona_ 10 9614 May 3 119 Jan 4
9914 94
100 1001: 100 10014 96
10012 101
100 101
25 585 Fob 26 695 Aurr13 z585 Mch 700 Jan
670 • 68 Calumet & Hecla
665
670 670
670 670
670 670
670 672
*670 675
21 Feb
Feb
1
3634 Nov
25
Sep
29
3
4412
Centennial
1,160
35
35
35
35
36
361: 36
3633 36
*3612 3712 36
1 .10 J'ne26 .35 Jan 15 .25 Mch .45 J'im
1,500 Cons Mercur Gold
.15
.11 .11 8.11 .16 *.11 .16
.15
.16 .16
*.10 .16
551, Feb
Feb 26 8634 Nov19
8 Nov
837
Co
100
Con
Flange
6812
Copper
4,453
.!
43
8
8338 84
8334 85
8334' 8414 8334 84
83
8314 83
7 Jan
712 May28 12 Mch19
20
1178 Nov
270 Daly-West
81,
812
834 834
834 9
831 831
9
10
9
*9
10 Deo
834 Dec
712 Feb 1 1658 Apr 20
10
3 5.898 East Butte Cop Mln
123.
12
121F
12
12
1214 12
1218 1212 1214 1234 12
212 Jan 15 .99 Mel),
1 Oct 29
234 Nov
12
2
114
2
2.
2,540 Elm River
13,1 2
*112 134 *112 134 *138 134
612 Apr
25 13 Feb 25 19 Aug 3
1912 Nov
21 14,431 Franklin
1734 19
17
1734 18
1714 1734 1713 1734 1714 18
738 J'nel6 1214 Nov19
1112 1178 24,444 Giroux Consolidated- 5
1214 1178 1218 1112 12
121: 12
1178 1218 12
80 Ian 110 J'ly
349 Granby consolidated_100 90 Feb 26 11012 Dec 29
10913 110
110 110
110 11033 110 110
110 110
9 Feb 26 .8
20
67, Jan
145 Nov16
1318 Aug
1114 1038 1113 -1012 Yi- 7,5/3 Greene Cananea
1118 1138 1118 113: 11 . 1138 11
814 Sep 10 38 Dec 22
33
33
341,3434 10,800 Hancock Consolidated 25
3338 36
34
33
3212 34
3273 34
712 Aug 0
25
.Deo 23
5i
51, 1,0.35 Helvetia Copper
514
5 . 518
5
5
612
512:
512 53_
534 534
2614 Jan
1734 Feb
2814 2,351 Isle Royale (Copper), 23 2218 Apr 27 3314 Feb 19
27
27
27
2712 28
28
28 • 2712 28
28
27
938 Aug19
958 10
5,521 Kerr Lake
913 10
1012
1033 lOSs 105- 1018 1078 10
10
Copper
Lake
Deo
IA
Dec
2414
10
1
Sep
:
7414
11
:i
1
52,607
:
1
t.a
)
(1
2
4
:
1
3
8714
83
ii
Ii
90
'
83
901: 8734 93
7338 7312 7978 80
73
1714 Jan
1214 Jan
1918 Dec 17
183.1 1712 19 12,924 La Salle Copper
1678 1718 1653 171.: 1713 183., 18
1634 17
712
25
714 812
81A 5,820 Mass COMO!
414 Mch18 1814 May28
214 Mch
838 Aug
634 712
514 53,
5t4 534
578 634
25 .30 Apr 29
1 Dec '.22 .25 Jan .75 J'ly
181 3,225 Mayflower
158
112 178
118 158
Ds
113 *1
..09 .99 8.85
8 Jan
31. Apr 16
31. Dec
0. Nov19
264 Mexico Cons M & S- 10
43.4
• 434 434
434 434
434
434 434
478 478
478 473
1513 Deo
83.1 Sep
3 123.1 Feb 26 2818 Dec 3
2734 2678 2712 2534 263.: 2512 2612 20,165 Miami Copper
2738 2812 2814 2858 27
Feb
714
1512
Nov
25
15
4
53
Michigan
Oct
1314
1
Mch
725
712 8
712
712 *7
7
*7
7
7
- 7
25 25712 J'ly 16 7018 Jan 8
45 Feb
73 Nov
I70- 2,202 Mohawk
go
'
6714 6714
6678 67
68
6712 6712 67
138 Jan
___ Montana Consoi 0 & C 10 ,00 Dec 15 .40 Apr 6 .25 Dec
alr .0213 Jan'10
80
7
3a8t ,
GL
833 Jan
20.34 Nov
Consoildated. 5 1612 Feb 26 30 Nov19
-Ii3E8 If' "iii4 15
8
-2-7-1-2 -iii41 .2-65
; 28. 20''' 2614 2618 7:661 Nevada
5
97, Oct 8 13 Sep 21
10 2,220 NIpIssing Mines
101.4 10
1014 1012 1012 1012 1014 1038 10
1014 10
15 47 Deo 24 8514 Jan 2
4034 Feb
8934 Nov
1 15,774 North Butte
4134 4218 4_1,_4 4212
44
42
4313 45
4213 4478 9313 48
412 Mch22 1178 Aug 0
17 8 93,614 North Lake ($8 paid), 25
1178 12
9
1735 141
812 938
8
8
878
814
0 .reenell .00 Dcc 22 .50 Jan
1 J'ly
118 11.
112
1
1
.75
.65 .65 ,
1 ____ .85
lorlly1011
oM
28 Jan
59 Aug 11
6013 Dee
5112 52 - ,,-112 7.8g1 813 gO
52
5212 5212 52
*5212 53
114 ---53
53
170 Dec 23
F g
77 Feb 13512 Deo .
ii 1'44
2214 I
164
425 Osceola
10113
162 162
162 166
16312 165
163 166
166 166
1012 Jan
3118 Deo
1,792 Parrott (Silver & Cop) 10 19 Deo 28 3614 J'no10
2012 2112 2013 2113 2012 21
20
20
2034 20
2034 20
77 Feb 100 Aug ,
09 Jan 4
83
88. 1.3
89
5 Quincy
50
20
90
9112 9112 88
89
90
90
90
90
Santa Fe (Gold & Cop) 'f13 9?1. Isl)cocv12
158 Apr ' 338•Not
278 Jan 8
212 21.
234 234
258 253 *212 234 *212 234
10 131; Feb 26 1778 Jan 4
1914'Nov
• 034 Feb
. -413 -1-638
1612 167.
4 4,961 Shannon
1718 1712 1713 1714 163i 1713 1634 17
14 Apr
3612 Nov
6512 6814 9,513 Superior
34 - Jan 5 67 Deo 17
6434 63
- 64
6514 6312 6514 6434 6614 6473 66
5 1318 Nov 6 1813 May28
)
1634 171: 1614 1714 6,770 Superior & Boston Alin f(
1612 1738 1618 1634 16,2 18
1612 17
2018 Nov
1418 Oct
1553 M.. 5,705 SuperiOr&FItts Copp. 10 1273 Apr 27 1812 J'ly 6
1614 1534 16
1658 16 ' 1818 10
1534 1814 16
88 Nov
56 Mch
25 62 J'iy 16 90 Feb 25
1 Tamarack
38
41
.9
6712 671:
73
68
73
66
71
73
7012 72
1218 Feb
25 Aug .
914 Deo 29 1758 Jan 23
25
0
10
10
1
10
1012 11
10
101: 1014 1138 1012 11
r
eo
pc
ee
458 Mch
Cootp
100
1612 Nov
753 Nov 4 1614 Jan 8
tedst
oilt
Un
_ u
.4
Dec'09 0....fi
Last Sal,- 3
• "5f-4 -3-71; -57- -3-71; -5F,i4 -317-ii -55- W." 3812 3878 391* 4014
33
9 Mch
al&011 25 28 Jan 12 3912 NovI6
3034 Nov
5114 ..,
678
28 Mch
447 NovNov
5213 53
5353 5414 5334 54 - 53
5234 53
54
---4 3,344 U S Smelt lief & Min_ 50 39 Feb 25 59 Sep 21
50 44 Jan 8 54 Oct, 4
137 Feb
Do pref
63
1,841
5112 5218 521. 52
6214 5134 5212 5134 52
51
52
634 Jan 26
438 Sep
7 Nov
4 Oct 29
458 478
434 478
434 3,510 Utah-Apex Mining.... 5
434 478
412
Oa 5
*45s 4755 3714 Feb 24 4934 Nov20
4212 43
44
42
50 Aug
4434 43
2912 Jan
4212 3,481 Utah Consolidated
4414 451: 4412 4558 44
2878 May 63 Nov
210 Utah Copper Co3934 Feb 26 66 No42t,
5912 5912 5714 59
*5534 564. 5614 5612 5578 5578
*5934 CO
Dec 22
212 Apr
5 Nov
*434 5
*412 5
534 1,925 VIctorla
478 475
512
473 512
e734 Nov
412 Jan
i0 81314 Deo 17
15 15,740 Winona
1112 143b 13
1258 12
12
1113 12
1113 1212 12
25 139 Nich18 158 Aug12 11512 Jan 175 Nov
149
149
149 150 *148 150 '149 149
• 82 Wolverine
150 150
' 150 • 150
.
338 Oct
25
2 Oct 8
4 Jan 16 .60 May
278
334 11,155 Wyandot
231 318
258 3
212 258
212 21.
213 25s
•Before pay't of assess'ts called in 1909. • Bid an:1 asked prices. d New stock. e Ass't pald. S HZ-stock div. 8 Ex-rights. a Hg-div. and rlghts.
---
-
•
•
-iiir2
i2 13,zc ptr!§ 0
Boston Bond Record
JAN. 15 1910.1
/SO
11M
Price
Friday
Jan 14
BOSTON STOCK EXCH'OK
WEEK EN1.11144 JAN 14
AinTelep&'I'elCoUtT 46.1929 J.J
1936 m.g
Convertible 4s.
Am Writ Paver lets t 5s 1919 J
Aria Corn Cop let cony 6s 1918 M-S
&Um Top & S Fagan g 48 1995 A-0
1095 Nov
Adjustment g
Stamped
rly 1995 51-N
50.year cony Is
1935 J.D
10-year cony 5,1
1917 J.D
Atl auk& W ISS Lines 58.'59 J.J
tiostou Efect L cunsoi Is IT
i t
Roston & Lowell 45
Boston di Mame 4124
1944 .1.41
Boston Terminal let 348 1947 F-A
Bur ab Mo ktiv cons 65
1918 J -J
Sinking fund 48
1910 J.J
butte & Boston 1st 08
1917 A•0
Cedar Rap & Mo P. 1st 78 1916 M.N
2d 7s
1909 3-D
Cent Venni- 1st g4,..31ay1920 44- le
B & (a Iowa Div let 58.1919 A.0
Lows Div jet 4a
1'119 A-0
Debenture 58
1413 M-N
Denver Extem4s
1922 F-A
Nebraska Exi5n 43
1927 M-N
Et&SWet 48
1921 5/1-8
Mims Div 312-i
1'149 J -J
•mut bonus b'ee Ut, Northern
C tic c ay & Stk Yds 58.1915 J -J
Coll triint rolunding g 451940 A-0
11 Nil & St P Dub 1) 60..1021) J -J
•Ai N & tit P Wie V div 681920 J.J
Anc ds No Mien let gu 58.1931 M-N
Alio di W luluoli gen 5s....1921 J•11:1
2oncord & Mont eons 4e..11.120 -D
2onn & Pass It let g 4s...1943 A-0
;anent River let Os
1827 A.0
out lir Itap & W 1st 48
1946 A-0
Dominion Coal let a S 58 1940 M-N
risen burg 4s
1915 M.S
1927 51-S
45
fit mot Elk es Me V 1st Ue 1933 A-0
Unatatuped let 68
1933'A-0
& colt tr 48 19211J-4
t Nor()
Registered 4e
19211 Q-J
Week's
Range or
Last Sale
BOND,.
4.2
BOSTON STOCK EXCIPGE t.., t
WEEK ENDiNa JAN 14
.5,A,
-..-
Rance
Year
1909
cai0
161
Btu
Ask Low
Righ A4 Lou' Righ
63 91513 9614
921
/
4 Sale
112%
93
1044 105 104% 104% 6 924 107%
83
83 Mani:.
83
204 Dec'09
130 204
100% Sale 1001
/
4 100:1„, 6 91)4 1014
94
92% 94%
951
/
4 04 Doe'09
94
94 12
93
95'1 935 Nov'09
1024121%
119 Deo 01
107161204
l20' Aug'09
73/
1
4
70
/
1112 32 59
4 Sale
701
110 Felf'04
W014100 t4
10014 Mar'0'
104 4 Oct'08
..
1124Jan'03
102 Dec'09 .... 102 102
Jan
'09
994
994 994
100 J'ne'01
..
117 J'ne'08
...
1114Ply'05
2 81
87
904
b7
87 Sale
11103 Oct'07
9956 1004
99% J'ly'09
101 16 101%
101 4 Dee'09
9912 100
100 Oct'09
1014 102
102 Alay'09
98% 99
99 Oct'09
894 92
8414 Nov'09
• •
•
..
Illinois Steel deben 58....1910 4.3
Non-convett deben 65-1913 A-0
Is Falls &Sioux Clat 76. 1917 A-0
Kan 0 Olin & Spr 1st 5s...1925 A-0
Kan C Ft S050041 ext58-1911 J.D
Kan C Ft Scott & M Eie....1928 M-N
Kan C M & B gen 48
1934 1101-S
Assented Income 5s
1934 M.S
Kan C & M ity & Br 1st 581929 A-0
51 Mae Cent corns 1st 7s 191e A-0
Cons 1st 4s
1912 A-0
Maro Hough & Om ist tia 11)25 A-0
Mass Gas 41
/
48
1'129 J .4
Mexican Central cons 48 1911 J.J
letcona mow;
Jani9391Jqy
2d eons ino 38.......Jan 1939 rly
Much Teleplet 58
1917 J. J
Minna Gen Eleo con g 5e 1929 J.J
New Bug Cot Yarn 55
1929 F-A
New Eng Teleph 58
1915 A-0
15s.
1916 A-0
New England cons g 58. 1945 J •J
Boston Term let 48
1939 A-0
N YN H & li con deb 31251956 .I.J
Conv deb Os Wks)
1948 14
Old Colony gold 45
1924 F-A
Oreg Ry & Nay con g 48 1946 J.D
Greg Sh Line let g 68
1922 F-A
Repub Valley 1st 5 1 86 1919 J.J
Rutland 1st con gen 4128 1941 J.4
Rutland-Canadian let 481949 J.J
Savannah Elec let cons 58 1952 4-4
Seattle Eleo let g 58
1930 F-A
Terre Haute Eleo g 511
1929 J 4
Torrington let g be
1918 51-9
Union Pao RH 29 I gr g 48 1947 J -J
20-year oonv 48
1927 J-4
Uniten Fruit gen 8 1414e 1923 J.J
U S Coal & Oil lets f 05 1938 M-N
U S Steel Corp10-60 yr 58 1963 M-N
West End Street Ry 4s. - 1915 F-A
Gold 4/
1
45
1914 M-S
Gola deoenture 48
1916 M-N
Gold 48
1917 F-A
Western Teleph & Tel 55 1932 4-J
Wisconsin Cent let gen 401949 J-J
Price
Feidav
Jan 14
Week's
Range or
Last Sala
-
Attn..
Year
----,
Ask Low
/I toa A• 1...., /4 fgA
995 Nov'09 . 09% 101
1004 Sale 10014 100.4 ...4 101341014
117 Apr'08
97 bale 97
97
6 94
1.7
100 Sep'09 _1 100 101
11714 117% ..10 11614 1204
1)4
93 Jan '10 ....1 1 00
934
91
11 864 924
02
92
92
7 .103,4 10;
103
1034 1041
/
4 101
11352 Nov'06
11
.
1
10114 Sep '05
115 Pne'08
'
.
98 12 47, 97 11.101)
9814
86 Mar'01.1 .... 844 86
1116 Apr'08 ....' ...... ......
'13i Apet)3
.il
• 1 1..
..
2.4,1014
102,
'1
1002 Sale 10412 11)4 1/4
111021$ 104%
102 Feb'09 .. 11102 102
10012Sep'09 ....II
'1
.
.....,
.....
10154 Deef'09 ....1 97%10914
134
131
1' 131 142%
101 Apr'09 ....1101 101
9874 Sep'OP __I gg ri, oar,
1174 Nov'09
1 117411911
105 Deo'08..-1
/
4 Nov'05
1071
., ......
102 1.lail,02
981.2 May'06
1
10414 Jan '10 ....1 104 10611
..
,
97 Apr'07
100 Nov'ul) .....' luV) 102
...... ..... 10274 Dee'09 ....' 11.1214 103N
110124'ne'01) ....010.- :521104
904 gat. 1164
96%, 31 9514 97
160 bale 155
160 • 52120 160
.... .
104% 10314 6 1024 108S
'1004 Apr'09 ....1 100 41004
10134 Pue'011 ....' 1004 10211
99 Nov'011 .... 1 99 100 11
1004 uct'09. ' 99410054
984
10011
11314 Apr'01)....' 9374 95 1,
Rut
101% Sabi 101 12 101% 16 101 104
1 91
04
0214
9214
1154Jan'10
116 11814
.
126
103 set)'09 . 101 103
11 102 10614
104 Sale 104
91 Dee'07
..
11214 Jan'03' ..
96 Feb'09. .. 96
96
91 Oct '09 .... 87
9/4
971
/
4 Nov•09 .... 964 9776
....
10313 Api'05
96 Apr'08'
133 blar'09
133 133
140 Apr'05
97 1 92 951:499
9634 Sale 964
00
4
9638 171 9534 9812
964
1
1
Nark-Buyer pays accrued interest in addition to the purchase price for all Boston Bond.e. .No price Friday; latest bid and asked.
104 I
v'e
f, ro l
•-
09 iii ve
¶ Flat price.
Philadelphia and Baltimore Stock Exchanges-Stock Record, Daily, Weekly, Yearly
share Prices-Not Per Camila' Prices
balurday
Jan b
Monaray
Jan 10
Tuesday
Jan 11
r Wednesday
; Jan 1?
Sales
Thursday I
Jan 13
Friday
Jan 14
50
.49
90
*88
1101411614 116 1161
115 115
/
4' 11641144 11612 11612.116 117
26% 26% 26% 26%
2134 26121 26% 264 26
2614 264 2512
46
*46
464 464 441144131
47
47
4612 "45
/
4*
*13% 14
14 •
*13
144
144.
144
•
••••••
a26
.4714
6112
12%
01
32%
8334
26
473
5214
12%
62
334
844
284 2656
12241224
10854 10976
6814
68
5114 5314
144 144
27. 284
834 Wte
*6% 676
5213 524
9414 9458
26
26
2614 264
26
26
26
26
481
/
4 493
49
49
49
49
.4334 49
534 614 523
52
5114 625 504 5176
1214 1214 124 124 124 124 12% 125
6112 614 6114 62
614 6114
63
132
321
11/52 324 33
324
/
4 8314 34
32
83
83
844 83 83
5812 8212 83
*124 13
51214 13
13
13
12
12
26% 2716 264 26%
28% '23 '28
28
122 12214 122121224 122 122
121 121
108 1101
/
41084 10578 1094 1051
/
4 1071
/
410712
671512 6842 671
/
4 6776 67 467150 674 0713
5214 53
52
524 52
52
525 52
14,
6 1414
144 14141 144 1414
144 144
271
/
4 28
274 2714 274 277
2712 274
8351.4 844 8214 834 83 83916 82,516 834
678 6161
,
64 613
6/5"'
64 6'
2/
1
4 6214 524 524 5212 62's
5212 6241
1144 9154 944 8478 944 947
944 94.41
PHILADELPHIA
Bid
Ask
Range for Year
19U.)
Lowest
utuitea/
Baltimore
Con.Gas EL L. & Pow.100 30 Mar 8 48 Dec
Do pre!
100 76 Marl() 1313 3layi8
164 Northern Central
50 100 Jan 4 1'211
/
4 Dee 17
774 Seaboard(new)
100 1154 Feb25 2814 Dec 7
823
Do 26 prof
100 2254 Feb24 48 Dec 7,
United By & Electric.. 50 1)54 Feb 3 1412 Deo 3
range 'or PreVi0141
(iIIOIj
Lowest 1 tity)t.est
20 Jan
65 Mai
80 Jan
4 Feb
10 bet,
10 Jan
10 Dee
a 111. Dec
102 Dec
13 Deo
26 1)eo
12 Nov
Philadelphia
204 2614
288 American Cement...... 60 25 Dec20 43 Jan '2 324 Mai 43 Dec
48% 4834 1,616 American Railways.- 60 4456 J'Iy
48 Deo 3t 42% Mat 41) 14 Nov
494 511455,692 Cambria Steel
50 $276 Fel)23 411% Deo21 2674 Feb 401
/
4 Dec
21,090 Electric Co of America 10 x1074 Jan 20 124 J'ly 14
124 12,
812Jan 114 Dee
627 4,940 Elea Storage Battery 100 43 Jan 3U 63424'ly30 2414 Feb 471
61
/
4 Deo
5,365 Gen Asphalt tr cues- 100 15 12Jan 5 334 Deo30
304 32
8ç Jan 194 Dec
821
/
4 2,796
82
Do pref tr ctfa- 100 53 Jan 5 8412Dee 31 19764an 5916 Dec
100 Keystone Telephone
13
.12
50 1142.1an 21 15 Apr19
44.1an
O May
264 265 5,917 Lake Superior Corp... 100 1414 Jan 5 3376 May 8
3% Feb 17 Dee
120 1204 1,032 Lehigh C & Nav'tx(ALB 50 96 Jan 6 125 12 Deal?, 7814 Jan 97% Dec
102 107% 63,415 Lehigh Valley
50 67 Feb23 113 Sep 211 52% Feb 7654 Dee
602671,16 10,034 Pennsylvania RR
50 634 Feb24 75% Sep 291 54wie Jan 6016 Dec
5,240 Philsuielp'aCo(Pittabi 60 404 Feb24 5174 Deo 9 341
52
51
/
4 Attu 44-4 Dec
14
1414 7,456 Philadelphia KlectrIct 25 11,
4 leb23 1413 Deo 221 51
/
4 Feb 1412 Nov
2676 274 12,002 Phil* Rapid Transit
50 2476 Jan
361
/
4 Apr 28 d12 44'n 254 Dee
08054 824 6,655 Reading
50 5912 Feb 23 86% Sep 211 453 Feb 711116 Dec
ti7E 1,316 Tonopah Mining
1 5% Jan lb 71516 31ar30, 372Jan
O `s Apr
52
521
/
4 2,185 Union 'Eraotion
58 8 May 41 5441-4.1'n 5614 Apr
50 5074Jan
934 943 18,299 United Gas Impt
50 84% Slay13 951
/
4 Deo 6 734Jan 941
.Dee
PHILADELPHIA
Inactive Stocks
Bonds
Allegheny Val pref....50
Prices are all"and
A.mal Asbestos Corp.100 30
301
/
4
interest."
Preferted
10() 0014 9014 Al Val It ext 75 1910 A-0
Ametican Milling
10
Alt diLVEleo 4 128'33.1f-A
Amer Pipe llig
100
Aru Rya cony 58 1911.J-D
Bell Telephone (1'a).100 119
Atl City let bag'19.M.N
Cambria Iron
50
46114 13erg&Ellrw 1st 08'21 J4
Cuice.100
Central Coal &
Bethle Steel Oa 1998.Q.F
Coneol Trac ol N J...100
Ghee& Me 1st 5s 1949 J-J
hasten con Electric o.60
Ch Ok & gen 58
J.J
6276 Col St By 1st con 5a1932
Eleo Storage Butt....100 61
Preferred
100
Con Traci of N J lat 55.'33
100
& A lat 111 58 1920 151-N
Et Wayne &W V
125'
Germantown Pass
50
Elea & Peo'jr atk tr aft)
Eq Ii Gaa-L 1st g 58 1028
Indianapolis St
100
Indiana Union Tr....10t)
Indianapolis By 46.1933
Interstate 4s 1943 .F.A
Insurance Coot N A..10 2212
Lehigh Nay 4's8 '14.Q4
Inter Stu Pow & Chem.50
13
Pats 4s g
Keystone Telephone ..50 12
1014.Q-5'
Preferred
Gen H 445 g 1924.Q.1
50
Keystone WateliCa8e.100
Leh V C 18t 513 g'33..J.J
Lit Brothers
Leh V ext 481*A1948.4"-D
10
Little Seltuyik111
2d 7s li)10
hi-S
50 67
blinehill & Schttyl H.,50 61
Cousol Os 1923
J-D
N Haven Iron & Stee1.5
Annuity 68
J.J)
Northern Central
Gen cons 4s 2003.51.N
50
North Peunnylvania..50
Leh V 'frau con 48'35J-1)
Ponnayl lilt receipts....
New Con blaa 5s 1948 J.D
Peunnylvanta Salt
60 107%
Newark Pass con 5s 1930
Pennsylvania steel..100
NY Ph& No let48'39J-J
Preferred
115
100
Income 4s 11139. ALN
1
4 453k NoOluoTrac con58'19.J.J
Elitist Co(Pate) pref...50 0/
150
Phil German & 3.orris.50
Penn gen Us 1910
Var
83
Phil., Traction
50 88
Consoi 58 1919
Var
Railways General
10 10
Penn & MU Steel con Os.
&mitten Iron & Steel-5
Pa & NY Can 5s '39.A-0
Tidewater Steel
Con 45 1939
10
A.0
Preferred
Penn Steel 1st 5s'17 bl-N
10
Union Tr ot Ind
People's Tr tr carts 4a '43
100
United N J RR & U..100 24914
P Co 1st& col tr 58'49 1I-S
Unit Trac Pitts pref..50 .. •
Con& col tr Ss 195131.N"
Warwick Iron& Stee1.10
111
/
4 115 Phil Met; gold trust ctfa„
West erHey & Sea 5h.80
Trust certifs 48
Westmoreland Coal....50 1341
P & E Key. 31 5 g'20.A.0
Wilkes bias &
Gen 51 2s g 1920 A&O
Elec••101)
•Bidand asked; do sales on
this day. Ii Ex-rights. LI $7.30 paid.
ACTIVE STOCKS
h Bonds and inactive
gir (br
es
Stocks see below)
6hares
.74Itt
Ask
•
•••••
924
98
irdri
110 111
103
11/44
92
106
50
.
924
1564
5714
103
100
10614 108
101 32
119
11656 984
108
PHILADELPHIA
Ilia I 4814
BALTIMORE
Bid I Ask
Ph & Read 2d 58'33.A-0
Chas Caylty 18t5s'23 J-4
105
Con M. 78 1911
J.D
Chas Ry & E168'111.1.51-6 91 I 03
104
Ex Imp DI 4ag
1014'102
Charl C& A 20 7ti'10 A-0
Terminal Se g1941.Q-F
City & Sub 1st 58..'22 4.1) ....
P W& B ool tr 48'21..14
City & Sult(Waa)Itst 58'48
Portland By 1st 56 1030.
Coal & 1 By litt 58'20F.A 101 1011
/
4
Boob ity& Leon 58'54.14 99761
Col &Urnv 1:R138.1916J-3 107 1074
Spanish-Am Ir Os'27 J4 1021
/
41102% (Jobsol
tis...11110 J•D 10014100',
U Trac Ind gen 513'19..7-.1
9241
58
.1930 2-1.) 1 10 110.2
Un Rya Tr()Rs 46.494&J
78121 78% Ga & Ala 1st con 5s'453.3
United Rya Inv 18t ooll tr
tia Car &N lat 5s g'29J-4 105 10-54
6158 1926
31-N
86,
41 861
/
4 Georgia P 1st0_ 122 4-4 11314
U Trac Pit gen 6e'97 J4
1107
CiaSo& Fla lat 5s 11345J-4
109
Welabach a 168 1930.4-1) 80
804
3-48 1951M-S 42
42',
WIka-B G&E con5e'53J4
102".,
at income 58 1951. 51..N
BALTIMORE
Knoxv Trac lac 5a'28A-0
Inactive Stocks
Lakelt El 1st gu5s'4231.8
Ala Cons Coal& Iron-100 25
Maconliy&LtIst5sWJ-4
35
136
Prot
100
80
Memphis St tat 58'45 J4 luU 100 12
Atlanta & Charlotte 100 lilt)
Metst(Waa14113t5s'25FA 108'4
Atlan Coast L (Conn)100 342 3471
/
4 Mt Ver Cot Duck let 5s. 1514 .7.
71i1
;
Canton Co
100 102's 110
NptN&O P lat.58'38 31-N
Cons Cot Duck Corp...50
ti
7
Norfolk St let 5s'44..J-4
Preferred
,.. .50 20
23
North Ceut44231925 A.0
Georgia Sou &
100 . .
Series A 58 1926. .4.4
114
1st pref
100
P'l
Series B be 11126. ...1-4
2d pref
100
Pitt Un Trite be 1997.4-4
G.13.6 Brewing
100
Poto Val 1st fis 1941..4-4 Rif;
.
Bonds
Sav Fla& West 55'34 A-0
Prices are all"and
Seaboard A L 431950 A.0
b44
interest."
Seal) do Beau 5s 1926.4-4
Anacostaa & Pot 55
103 1034 South Bound 1st 5s..A.a.)
Atl & Ch ext 44s '10.44
1JEL L&P lat4/
1
48'29 .31..N
12
0214
Allan 0 L H1645195251-8 954
Un
& Et 181.48'40 31.s
be.% 87
Atl Coast L(Ct)ctte 58 J.D 1U5
Imanue 48 1949
J 1) 60/
1
41 60%
97
CU* ol indebt 4s....J
Funding 5a 10.36...J.D
34
84k.
5-20 yr 4s 1925
4,4 113
J.J
Va Mid '2d ser Us '11.51-s
Bait CPass 18t5s'11 31-1,
1 113014 luu%
3d series 68 1916..M.S
Bait Fundg 58.1916151-N
4th ser 3-4-56 1921.M.S
42 98 1 fith serum 53 1026.31.6
Exchange 346 11)30J•J
i0146
Balt& Plat65 ml'11 A-0
11)3 1 Va (State) 38 new '32.J-4
924
13 S P & 18t4 425'33F-A
944
Fund dem 2-381901.4-J
13alt Trac lst5e..'29 M•N 108
' \VeatN C cou tis 11114 4-4
No Balt Div 551942 J-D
WesVa C&P lattig'11J-4 lul 10114
Ceut'l By con581932 AL-1,
7
1• Wil & Weld 53..1915.4-J 111
lust& Imp 58.1932 di-S
1.
IV-314 Pal& /*35 Pail a Receipts. I) $23 paid. c$30 paid. d $12 la paid.
95
...
..... •0000
1)6%
104's 10514
98's 90
101% 102
7534 76
t .1213 PAU
THE CHRONICLE
162
Lxxxx
trr
Volume of, Business at Stock Exchanges
Electric Companies
Bid
Chic Edison Co-See Chi cago
e Kings Co El L&P Co 10() 128
Narragan (Prov) El Co-50 * 02
NY &Q El L &Pow Co 100 60
Preferred
100 75
United Elec of N J-100 75
1st g 43 1949
7934
A.sic
list
industrial and Miscel.
Bid A sit
Consol 'tubber 'lire....100
2
3
Preferre,i
100
20
TRANSACTIONS AT THE NEW YORK STOCK EXCHANGE
1)4
Debenture 4s 1931 _A-1) 34
38
70 Con Steamship LinesDAILY. WEEKLY AND YEARLY.
80
Coll tr 4s 1957 rcts_J-J 21
23
Corn Prod Ref-See Stock Exo iist
Stocks.
Railroad.
,
1012
e Crucible Steel
100 1714 1712.
Week ending
cite..
Slate
U.S.
9214 113 •
e Preferred
100
Jam 14 1910.
Shares.
Par value.
Bonds.
Bonds.
Bonds. Telegraph and Telephone
Cumberland-Ely Copper 5
e Amer Teieg & Cable_100 70
77 e Diamond Match Co_100 12412
Saturday
e Central & So Amer.. 100 118 120 duPont(EDdeNemPo 100 137 1-4(
3113,500
;344,958 432.381.800 41,619,000
-r
Monday
Comm'i Un Tel(NY) 25 108 116
65,000
558,885 50,028,200
2,839.000
e Preferred
100 28534 8634
Tuesda;
793,915 72,474,000
Emp do Bay State Tel 100 65 ____
136,000
3,038,000
e Gold 4 385 1936
J-D 8712 SS
We.:aes.....ii
Franklin
89,600
830,755 75.550,500
3,147,500
100 45 ____ Econ'y Lt & P (Joliet, Ill)
Thursday
145.000
e Gold & Stock Teleg_100 105
1,107,256 100,162,500
3,235,000
1st Al s f g Is 1956_J-D 95
98
Friday
.......... 1,289.768 117,007.300
163,000
3,933,000
Y & NJ Teleph-See Stk Exc list
Electric Boat
30
100 25
e Northwestern Teleg 50 105
Preferred
100 68
Total
4925.536 $447.604.300 $17.811.500
Pacific & Atiantic
8711,500
25 05
70 Empire Steel
7
100
10
Southern & Atlantic.... 23 00 98
Preferred
100 83
86
e General Chemical
95
100 93
Sales at
Jan. 1 to Jan. 14.
Week endine Jan. 14.
Ferry Companies
e Preferred
100 10212 103
New 1 ork Stock
B do N Y 1st 65 1911_J-J 94
96
Goldfield Consol Mlnes_10 *758 74
Exc,u.inge.
1910.
W10.
1909.
1909.
N Y & E 14 Ferry stk_100 30
37
Gold Hill Copper(w 1)_ 1 *11. 14
1st Is 1922
GO
Greene-Cananea
M-N
65
4 11
20 *103Stocks-No. shares...._
4,925,536
4.089,747
10,126,299
10,139,429
Guggenheim Explorn 100 235 245
Par value
4447.604,300 $378,995,900
$933,143,850
$930,092,225 NY&Hob Is May '413..J-D 97 100
Hob Fy 1s1 Is 1946 M-N 105 107 e Hackensack. Water Co
Bank siiares. par
*9,400
• $30,100
$2,500
N Y &NJ 5s 1946____J-J 97 100
Ref g 48 '52 op '12__J-J 8712 90
Bonds
Hall Signal Co com 100 48 55
Government bonds
$25,000
$25,000
$25,000 10th & 23d Sts Ferry_100 4,
1st mtge Is 1919__J-D 67
72 Havana Tobacco Co 100
8
$711,500
943,000
State bonds
1,674,000
1,554,500 e Union
Ferry stock__100 33 3512
Preferred
20
100 10
ItIt. and misc. bonds.... 17,811,500 27,359,000
39,006,000
62,664,500
e 1st Is 1920
00
3I-N 94
1st g Is June 1 '22_J-D 60
65
Hecker-Jones-Jewell Mill
$18,523,000 $28,327,000
Total bonds
840.705,000
$64,244,000
Short-Term Notes
1st Os 1922
31-S 105 109
Am Cig ser A 45 •11_31 S 981s 985s Her'g-Hall-Mar, new_100 30
40
DAILY TRANSACTIONS AT THE BOSTON AND PHILADELPHIA
4s
Mch
Ser
15
B
'12
M-S
97
9712
Hoboken Land & Imp 100
EXCHANGES.
Atlan Coast L 55 '10_M-S 100 10035
e Is 1910
31-N -1R5;1
1
78
Bethieh Steel 6s '14.-M-N £1912 100 Houston 011
734
100
to)
Boston.
Philadelphia.
Cln Ham & D 43 1913_,T-J 9634 9714
Preferred
100 39 41
Week ending
C C C & St L 5s, June '11 10012 11/1
Hudson Realty
100 100 110
Jan. 14 1910.
Bond
Listed Unlisted
Unlisted
Listed
Erie 6s, Apr 8 1911 A-0
Bond
- -- e Ingersoll-Rand com_100 90
shares. shares.
shares.
sales.
1nterb R T g (Ss 1911_M-N 01shares.
sales.
4 1,
-414
e Preferred
100 95
K C Ry&Light Os '12-M-S 97
98 Internat'l I3ank'g Co_100 130 fir
Saturday
17,36k
439,100
40,241
16,081
7,302
$36,000 Lack .Steel Is g 1910.,M-S 9934 10018 Internat'l Men Mar-See S tk Ex list
109,600
47.531
Monday
48,695
26.508
12,358
245,885 Lake Sh do 31 So Is '10 F-A 9978 109's International Nickel._100 150 155
52,701
27,699
38,000
Tuesday
11,473
22,089
77,400 Mich Cent Is 1910_ _F-A 9978 10018
Preferred
03
100 91
Wednesday
74,931
38,220
101,500
12,170
29,983
117,500 Minn & St L g Is 'll_F-A 9914 9934
1st g Is 1032
94
A-0 93
89,611
Thursday
54,775
23,406
85,000
11,219
49,500 N Y Cent Is 1910____F-A 9978 1001s International Salt....._100
8
Friday
54.791
30,870
61,966
90,500
14,747
43,500 N Y 0 Lines Eqp 53'10-27 84,40 4,15
1st g Is 1951
46
A-0 40
NYNH6s 11 53 '10-'12 100 10134 International Sfiver_100 20
30
336,936
225,249
Total
$463,700 195,281
69,269 $569,785 Nort & West Is 1910_M-N 1001/ 111012
Preferred
100 08 103
Pa RR 55 Mch 15 '10..M-S 100 1t.3038
1st 6s 1948
J-1) 110
St L & San Fr g 58 '11_ J-J 99
9912 Internet Smelt do Refg 100 130 155
4%g notes'12op.. F-A 96 97
Internet Time Record_ 100 70
75
South fly g 5s 1910__F-A
99711 10018
Preferred
100 100 103
Tidewater 6s, 1913 guar 10132 101% Jones do Laughlin Steel Co
All bond prices are now "and interest" except where marked "1."
1003
8 101
Westingh'e El&61 es 1910
1st s f g Is 1939....M-N 101 10134
Lackawanna Steel_....100 62 65
Street Rail ways
Bid Ask
Street Railways
Bid Ask
Railroad
Lanst Monot'pe (.ew)100 93
9513
New York Cily
Pub Serv Corp N J (Con)
eChlo Gt‘Veorn tr ctfsiSee Stock Exe Lawyers' Mtge Co_100 265 275
Bleeck St & Fut stk_100 15
Rapid Trail St Ry_100 240 250
ePreferred tr ctts__J
30
list
e Leh & Wilkes-B Coal 50
e 151 mtge 45 11/50_J-J 60 70
1st 58 1921
A-0 106 __ Chic Peo & St L-e Lorillard (P) pref
100 130
e B'y iSc 7th Ave stIr_100 130 140
J C Hob do PatersonPrior lien g4
M-S 1 89
91
Madison Sq Garden_100 4212 (10
e 2d mtge 55 1914__J-J 9912 101
48 g 1949
M-N
Con mtg g Is 1930 _J-J / 53
60
7813 7912
2d Os 1919
85 100
M-N
So J Gas El & Trac_100 146 141
Con Is 1943-See Stock Exc list
Income Is, July 1930__ / ---- 5 Manhattan Transit__ 20 *2
21.4
Gu g 55 1953_ _M-8 100 10012 Chicago Subway
B'way Sur/ 1st Is gu 1924 102 105
07
41342 102
5
105
Monongahela R Coal__ 50 *934
No Hud Co fly 0514 J-J 102
e Cent'l Crosst'n stk__100
Ft W & Den Cy std 100
Preferred . '
50 *2,38 2568
Is 1928
e 1st mtge Os 1922..M-N 80 95
J-J 103 165 - K• ansas City Sou Is Apr 1
Mortgage Bond Co___100 110 115
Ext Is 1924.___M-N 99 101
e Cen Pk N & E H stk_100 30
50
1950 (w I)-See Stock Exo list
Nat Bank of Cuba____100 99 103
Pat City con 13s '31_J-D 118 120 Nat Itys of Mexico-See S Exe List Nat'l Surety
•Chr't'r & 10th St slit 100 80 90
100 215
2d Os opt 1914.--A-0
Col & 9th Ave 58 See Stock Exc. list
North'n Securities Stubs_ 1L0 106 Nevada Cons'd Copper 5 *2534 "0;
DryDEB& 13So Side El (Chic)-See Ch icago
100list P• itts Bess do L E
50 *30 36 Nev-Utah Mill do Sm.. 10 *),38 ' 11i
e 1st gold Is 1932-J-D 971.100 Syracuse R T 55 '46__M-S 103 105
Preferred
50 *70
7O e New Central Coal
20 30
60
e Scrip Is 1914____F-A / 45
50 Trent P do 11 58 1943_J-D 100 102 e Railroad-Securities CoNYAir Brake 6s-8ee Stk Exc list
Eighth Avenue stock_100 250 300 United Rys of St.L1[1 C stk tr et's ser A'52 90
N Y Biscuit 6s 1011_M-S /100
Corn vot tr etfs
e Scrip Os 1914___F-A / 95 100
100 2012 21 Seaboard Companye New York 1)ock
40
100 37
e Preferred
*42d do Gr St F'y stk_100 200 220
100 691. 70
1st preferred
100
e Preferred
100 82
8313'
Gen 4s 1934-See Stock Exc'
42d St M & St N Ave_100
Corn do 2d pref-See Bal I Exe list N Y Mtge 63 Security_100 225 235
. list
e 1st mtge 6s 1910..M-S -61;1-2 1-60l.-1 UnitRys San Fran See Stk Exc list Seaboard Air Line*0
N Y Transportation_ 20
7
2d income 65 1915_J-J / 60 Wash By & El Co___ 100 42
Coll 58 eat May 'll_M-S 993/
43
Niles-Bem-Poud com_100 99 103
Inter-Bet-See Stk Each ange list
Preferred
100 8912 9014 West Pac 1st 55 '33....MS 9712
e78 1011
Nipissing Mines
5
Lex Av & PavF 5s See Stk Exc list
43 1951
J-D 86
8678
e Ontario Silver
234 3
100
Metropol St Ry--,See Stk Exc list
Otis Elevator com
Industrial and Miscel.
100 54
57
Ninth Avenue stock.._100 160 170
Gas Securities
Adams Exp g 45 1947 J-D / 9212 9314
Preferred
100 98 100
Second Avenue stock_100 14
18
Ahmeek Mining
25 *215 225 Pittsburgh Brewing... 50 *2312 24
e 1st Ni 5.s'09 ext 'it) 11-1\ 96 100
New York
Alliance Rea ty
Preferred
100 115 120
50 *4213 43
Consol Is 1948____F-A 65
70 Cent Un Gas Is 1927 -J-J 10012 10112 Allis-Chalmers Co 1st mtg
Pittsburgh Coal-See Stk EU) list
Sixth Avenue stock___100 108 118 Con Gas (N Y)-See Stk Este list
s f Is 1936-See Stock Exc list Pope Mfg Co corn
78
100
sa
Sou Bouiev 5s 1945___J-J 60
85 e Mutual Gas
100 148 160 American Book
100 155
Preferred.
90
100 85
-A-0 88 92 New Amsterdam GasSo Fer 1st 58
American Brass
100 118 121
Pratt & Whitney pref_100 100 105
Stock
1919_Avenue
-See
Third
1st consol 5s 1948_.J-J 100 101
Exe list
American Chicle com_100 227 232 Producers 011
100 15•J 160
Tarry %V P & M 55 1928 1 60
80 NY& ERGas 1st 5s '44 J-J 103 106
Preferred
100 104 107
Realty Assoc (Bklyn)_100 120 135
YkersStRR5s 1946 A-0 85
Consol Is 1945
95
J-J 97 100 Am Graphophone corn 100 10
Royal Bak Powd com_100 165 175
18th & 29th Sts 55 '96 A-0I
20 N Y & Richmond Gas_100 32
Preferred
30
42
100 32
Preferred
100 108 112
t Twenty-third St stk_100 2-00 250 NY &WestchesterL'hVgAmer Hardware
100 140 145 Safety Car Heat do Lt_100 130 133
Union fly 1st 58 1943-F-A 10014 10112
Del) g 5s 1954 guar_J-J 101 10312 Am Malting 6s 1914 J-D 103Seneca
105
Mining
25
Westchest 1st 5s '43 J-J 60
75 Nor Un 1st 5s 1927--M-N 97 100 Amer Press Assoe'n 100 05 1110 Singer Mfg Co
100 510 eAki
Brooklyn
e Standard Gas com_100
s56 Am St Found new-See S tk Ex list South Irou & S com
100 22
24
Atlan Avenue 1(11e Preferred
100
Preferred
65 1935
80
A-0 104 1013
100 50 65
Con Is g 1931
1st 5s 1930
A-0 98 101
12 112
M-N 102 106
Deb 4s 1923
F-A 7512 77,2 Standard Cordage..._..l00
B B & NV E Is 1933.-A-0 07 100
235
225
1st
M
American Surety
c Is '31 red_A-0 / 20
50
23
Brooklyn City Stock__10 195 198
Other Cities
Adjust AI Is Apr 1 1931
American Thread pref 5 *434 514
4
Con Is-See Stir Exoh ange list Am Gas & Elec coin__ 50 *4412 4512 Am Tobacco Co corn.._ 100 425 42o Standard Coupler corn 100 20
30
Bkln Ilgts 1st Is 1941 A-0 9/ 102
Preferred
52
50 *44
45
Preferred
Amer Typerders com_100 41
100 100
Bkln Queens Co & SubAmer Light & Tract_100 299 301
Preferred
100 99 102 Standard Milling Co 100 19
21
e 1st g 5s '41 op '10_J-J 98 1001:
Preferred
100 108 110
Deb if Os 1939._....MN 99 100
Preferred
60
100 57
Con guar 5s-See Stock Exe list Bay State Gas
50 11.14 1316 Amer Writing Paper 100
234 312
1st Is 1030
83
86
M-N
Tran-See
Stk Exc list Bingh'ton (N Y) Gas Wks
Bklyn Rap
26 Standard Oil of N J 100 658 663
Preferred
100 24
Coney Isl & liklyn_100 65
75
1st g Is 1938
A-0
8813 Swift & Co-See Bost SU( Exe list
100
1st s f g 5.3 '19 op'09 J-J 87
1st cons g 4s 1948__J-J 78 82 Brooklyn Un Gas-SeeStk Sic list AtIGf6sWIndSSLInes_100 1012 1112
1st Is-See Chic St ck lExe list
J-J 75
Con g 4s 1953
85 Buffalo City Gas stk.. 100
4
6
Preferred
_ 100 27
2812 Texas Company
100 217 223
Brk C & N Is 1939_J-J 95 100 _
1st 55 1947-See Stock Exc list
Col tr g 55 1959____J-J / 70 72 e Texas & PaeltIc Coal 100 95 105
Gr'pl&LorSt 1st 6s_M-N
Gas of N J Is '36_J-J 92
95
Barney & Smith Car....100 n40
45 Title Ins Co of N Y
100 155
Kings
El 4s-See Stock Exe list Consumers' L H & PowPreferred
100 103 120 Tonopah Min (Nevada) 1
tile
Nassau Elec pref
100
5s 1938
J-D
_
Bethi'm Steel Corp-See S tk Ex list Trenton Potteries coin 100
4
55 1944
A-0 103 105 Denver Gas & Elec_ .100 110153 158 - Bliss Company corn.... 50 140Preferred,new
55
65
100
1st 43 1951-See Stock Exe list
Gen g Is 1940 op_M-N 94
9i,12
Preferred
50 135
30
Trow Directory
100 27
N W'bg & Flat 1st ex 4 As 90 95 Elizabeth Gas Lt Co.. 100 300Bond do Mtge Guar
Union Typewriter com100 5) 02
100 27212
Steinway 1st Os 1922-J-J 102 • 107 Essex do Hudson Gas-100 15. fEi- Borden's Cond MLUE 100 10
e,
100 110 115
c1 e
pretterre
2
1
a
s
.Z
t
4
1
5
9
14
1
Other Cities
Gas & El Bergen Co100 81
83
Preferred
100 112 115
100
Buffalo Street Itye Gr Rap 1st Is '15..F-A 11.0 101
British Col Copper._ 5 *734 8 United 13k Note Corp_ 50 *50
52
181 consol Is 1931_ r-A 105 100 Gr't West Pow Is '46..J-J 93
96
Preferred
Butte Coalition Mining 15 *251. 26
60 *5213 51
Deb es 1017
A-0 103 10712 Hudson Co Gas
100 149 151
2- 3
Casein Co of Am com_100
United Cigar 2.tfrs
100 89 90
Columbus (0) St ity_100 98 ___ Indiana Lighting Co 100 31
33
70
e Preferred
100 62
Preferred
100 103 111
Preferred
100 ial0
4s 1938 op
F-A 67
60 Casualty Co of Amer 100 123 140
United Copper
114 818
100
Colum fly con Is-See Phi
Indianapolis Gas
50 1912 30 Celluloid Co
list
100 130 131
Preferred
100 21
29
Crosst'wn 1st 55 '33 J-D
1952
Is
1st
g
A-0 80
106
90 Cent Fireworks cow _100 n3
7
U S Casualty
215
100
e Conn Ry & Ltg com_100 -7-612 78 Jackson Gas Is g '37-A-U / 88
9212
100 n53
Preferred
GO
U S Envelope corn-ADO 50
e Preferred
100 82 83 e Laclede Gas
100 10812
1
Central Foundry
112
100
Preferred
100 114 tin
1st & ref 4386-See Stk Exc list
e Preferred _
_100 90 100
Preferred
100 10
14
U S Finishing
100 140 15)
Grand Rapids Ry
1011 120 ____ Madison G
---Gas 6319261A-0
103 108
Deb 6s 1919 op '01-M-N 63
72
Preferred
100 110 115
Preferred
100 93 -- -- Newark Gas 6s 1944 Q-J 130 132 Chesebrough Mfg Co 100 603..
U S Steel Corporatione Louisv St 55 1930
J-J 10614 10610 Newark Consol Gas 100 100 101
City Investing Co__._100 62
65
Col tr 8 f 53 '51 opt '11 11412
Lynn & 1.303 1st. Is '24 J-D 105 107
e Con g 5s 1948.__J-D 106 107
Preferred
100 99 102
Col tr s f 53 '51 not opt 11412
•New On Itys & Lgt-10() 2812 2912 No Hudson L H & Powe Main (11 13) coua....100 110 1.8
60
U 8 Tlt Gu & Indem_ _100
e Preferred
100 6312 63
Is 1938
A-0 110
e 1st preferred
100 92
1.8 eUtali Copper Co-See Slit Exc ust
Gen Mg 4 388 '35-see s tk Ex list Pacific Gas do E, com_100 55 50
e 2.1 preferred
0
Water.in ,,, Co corn....100
100 94_
Pub Serv Corp of N J_100 12412 12512
Preferred
100 90
91 Cot & Hock Coal &I p1100 8.3 -9-5 Preferr. d
Tr cas 2% to 6%perpet 1051. LA, Pat & Pas Gas & Elec_100 05
98
1st g Is 1917
•%Vesteliester & Bronx Tit
J-J
91 :5
North Jersey St Ry_100 50_--.
e Con g 5s 1949...-M-S 101 10212
Col tr Os Oct 1936-J-3 100 101
& Mtge Guar
100 163 17)
151 45 1948
At4N1 70
St
Joseph Gas 35 1937..J-J
81
96 Consol Car Heating__ _100 27
Westlugiese Air 13rake_50 6141 146
32
Cons 'I fact of N J__100 7612 74P Western Power com_100 9313
38
3912 Cons Ity Lgt Zo Re1tig-101,
....__
El
63 Mfg 53-SeeStk Exc list
West
1st 55 1933
J-1) 104 10111
Preferred
100 59 61
.i. orining Pour) pref_10v 106 110
New'k PasIty 58 '30 J-J 108 109
r.
Outside Securities
1134
-..
o'Per share a Ea-righta. 0 Basis. e Sella on Stk. Ex., but not very 4ctive f Flat pric.,. is .NO.A.
1
Sale prtee. x
Ex-rlz'ats.
z New stoc)
JAN. 15 1910.]
THE CHRONICLE
103
$txuestment and Xattroad intelltgence.
RAILROAD GROSS EARNINGS.
The following table shows the gross earnings of every STEAM railroad from which regular weekly or monthly returns
can be obtained. The first two columns of figures give the gross earnings for the latest week or month, and the last two
columns the earnings for the period from July 1 to and including such latest week or month. We idd ‘..1 supplementary
statement to show the fiscal year totals of those roads whose fiscal year does not begin with Ju:y, but covers some other
period. The returns of ths electric railways are brought together separately on a subsequent page.
Latest Gross Earnings.
ROADS.
Week or
Month.
Current
Year.
Previous
Year.
July 1 to Latest Date.
Current
Year.
Previous
Year.
$
3
$
$
kla N 0 & Tex Pan
NO & N East__r December
292,773 305,160 1,714,617 1,530,815
813,678
873,518
160,751 160,344
Ala & Vicksb_r December
725,109
733,594
139,948 143,673
Vicks Shr eo Pac.r December
23,797
31,337
7,246
kla Tenn 1,0 North_. November_
6,464
: Atch Top & S Fe_ November_ 9.628,529 3,403.247 14.507,765 39.114,925
1,010,555
tiants 131rm & Atl 4th wk Dee
65,802 1,202,302
72,270
Mantle Coast Line November_ 2,746,292 2,247,222 11,080,800 0,690,508
Baltimore & 01110_ November_ 7.351,673 6,306,422 37,233,833 32,941,375
3angor & Aroostook November_
244,683 227,401 1,105,234 1,180,512
31,441
3ellefonte Central__ November_
28,145
6,161
7,083
3oston & Maine_r November_ 3.746,625 3,238,292 19,319,827 17,283,373
23,453
22,604
3ridgeton do Saco R November_
3,077
3,424
Riff Roch & Pitts_r 1st wk Jan 129,188 122,991 4,849,235 3,888,817
964,435
Sulfalo & Susq___r November_
201,186 191,278 1,085,592
7anadian Northern_ 1st wk Jan 174,900 145,300 6,964,300 5,780,400
)anadtan Pacific_ 1st wk Jan 1,315,000 1,098,000 51,137,753 41,731,783
;entral of Georgia__ 1st wk Jan 204,500 185,000 6,487,319 6,163,832
;entre( of New Jer_ November_ 2,450,186 2,238,910 11,632,545 10,944,032
;entral Vermont__r November_ 323,147 283,959 1,693,612 1.556,781
40,847
35,707
1,541
1,551
;hattanootra South_ 2d wk De.
3hesapeake & Ohio_ 1st wit Jan 526,504 476,215 16,126,790 13,879,136
;hicago & Alton fly 3(1 wk Dec 279,480 294,038 6,706,219 6,416,559
6,632,676
7,0.52,241
38,849,136
14,860,273
;hic Burl& QuinOys November_
)Chicago Gt West_ N. vember. 1,064,993 915,490 5,043,451
70,706
;hie Ind & Louisv_ 1st wic Jan
77,590 3,128,132 2,829,048
lhic Ind & Southern -See New York Cen tral.
Thic Mil & St Patil_r November_ 5,936,752 5,129,361 29,567,441 27,573,907
Ch 5111 & Pug Sd.r November_ 1,044,788
;hic & Nor West„r November_ 6,586,682 5,634,874 33,824,726 30,098,782
Thic St P M & 0__r November_ 1,427,237 1,202,960 6,688,690 5,987,388
ntle Term Trans_r October __
333,024
402,860
116,050 104,359
;in Ham do Day_r November_ 8'3,533 704,510 4,234,783 3,500,037
;lev Cin Chic & St L -See New York (7en tral.
;olorado Midiand_r November_
255,253 225,753 1,122,720 1,034,464
, Colorado ec South 1st wk Jan 270,601 272,024 8,919,026 8,360,678
'olum Newb & Lau October...
27,172
23,617
91,657
91,786
opper Range
Octo'i-r __
04,101
294,606
274,098
72,007
ornwall
November_
7,333
17,991
29,255
74,635
ornwall & Leban_r October...
39,371
153,312
30,873
102,203
November_
1613,448. 117,210
807,683
;411)a Railroad
673,261
Delaware & liud_r November_ 1,338,4(36 1,634,274 8,542,503 8.045,677
)el Lack & West__t November_ 3,232,590 3,058,009 15,980,777 14,442,806
)env do Rio Grande 1st wk Jan 318,900 340,400 12,634,046 11,255,367
531,726
8,940
13,353
)enver N W do Pac_ 4th wk Dee
417,315
835.187
40,327
874.580
38,678
)et Tol Cc Iront Sys 4th wk De
941,704
51,113
4th wit Dee
33,200
929,095
Ann Arbor
575,812
617,522
)etrolt & Mackinac 1st wIc Jan
19,388
16,886
852,569 596,492 6,336,073 4,596,167
)ul & Iron liange_r November_
)ul Sou Shore & Atl 4th wk Dec
69,013 1,718,458 1,394,301
79,112
Paso & Sou W__r November_ 633,682 626,123 2,962,257 2,784,206
irle
November_ 1,976,093 1,283,941 23,871,534 22,075,210
,airchlid & Nor E. November_
2,212
8,495
1,768
9,714
ronde Johns & Gies November_
387,857
54,953
60,191
341.057
;eorgia Railroad__ November_
285,731 245,060 1,298,539 1,232,760
;eorgia South & Fla -See Sout hern Rail way.
irand Trunk Syst_ 1st wk Jan 654,885 536,240 23,521,952 21,491,853
Cr Trunk West__ 3(1 wic Dec 109,413 107,992 2,901,995 2,712,549
Det Gr Rev do Mil 3d wk Dec
45,385
39,312
086,154
868,411
Canada Atlantic_ 3d wk Dec
37,428
24,556 1,053,617
956,618
;mat Northern Syst December.. 3,704,799 1,125,555 34,783,420 10,795,467
iulf do Skip Island_ November_
201,028 168,013
758,690
899,631
locking Valley__ November_ 690,900 560,601 3,353,991 3,016.052
Ilinois Central____ December 5,238,646 5,211,186 30,088,423 29,242,829
nternat & (it Nor_ 1st wk Jan 131,000 124,000 4,611.295 4,474,683
a, Interoceanie Alex_ 1st wk Jan 137,014 135,525 3,486,909 3,273,036
owa Central
1st wk Jan
50,443
47,435 1,770,149 1,582,529
Canawha & Mich.. November_
248,030 197,172 1,185,150 1,044.017
Cansas City South_ November- 848,127 766,792 3,866,707 3,748,086
W Mex & Orient
Ith wl{ Dec
51,500
35,000
886,179
588,588
November_ 3,302,219 2,901,677 15,214,924 14,416.341
thigh Valley
November_
xxington & East
26,137
164,818
23,336
187,349
mng Island
November_ Inc 138, 485
Inc 637, 003
lmuislana &Arkan- November_ 108,997
467,510.i
85,052
336,818
MU fiend & St L__r November430,500
78,398
100,072
496,916
Loulsv & Nashv__ 1st wk Jan 933,710 831.455 26,320,134 24,281,081
F./aeon & BIrm'am
h
December.
74,126
_
13,148
77,438
12,678
8.faine Central --__r November_
755,177 654,307 4,007,320 3,722,982
F.lanistique
November_
22.855
16,721
3,148
3,907
8.faryiand h Penna. November_
170,265
182,675
33,662
29,622
, Mex can Internet_ 1st wk Jan 128,753 122,325 4,297,167 3,501,867
a Mexican Railway- 3,1 wk Dec 157,50c 136,800 3,662,100 3,250,600
a Mexican Southern 3d wk Dee 29,508 23,252 601 731 583,968
8.iichigan Central- See New Y ork Centr al.
4th wk Dec
8.lineral Range
25,845
430,911
441,079
20,750
F.linneap & St Louis 1st wit Jan
69,955
67,043 2,731,012 2,345,032
8.Jinn St P & S S All 1st wk Jan 325,217 275,875 12,962,082 11,175,002
Chicago Division)
F.lississippi Central_ November_
78,819
57,445
356,852
273,589
F.lissourlKan & Tea December.. 2,298,254 2,208,876 14,156,840 13,792,369
8.lo Pao & Iron Itt,
Central Branch_ 1st wk Jan 769,000 703,000 27,855,354 24,762,810
Mobile Jack & IC 'Wk Dec 25
33,825
38,062
800,941
768,717
jashv Chatt & St I. November_ 989,554 030,238 4,780,180 4,613,757
, Nat Rys of Mexico 1st wk Jan 853,620 916,620 24,808,850 23,721,655
fevada-Cal-Oregon. 4th Wit Dec
8,108
9,197
266,089
203,651
/evade, Central__ October_
6,860
25,315
8,113
28,035
.1 0 Great Nerth___ November_ 117.382
45.778
547.539
218.322
Latest Gross Earnings.
ROADS.
Week or
Month.
Current
Year.
July 1 N Latest Date.
Previous
Year.
current
Year.
Previous
Year.
$
$
3
$
0 N Y C & Hud Riv_ November_ 8,520.037 7,434,521 42,585.638 38,345,385
Lake Shore & MS November_ 4.092,9463,362,837 20,886,410 17,709,044
n Lake E & West November_ 471.548 370.275 2,381,438 2,021,298
Chic Ind do South November. 326,253 245,518 1,470,695 1,125.585
Michigan Central. November_ 2,526,762 2,118.326 12,480,048 10,791,881
Cleve CC & St L. November_ 2.584,504 2.148,948 12,711,101 11,188,620
Peoria ec Eastern Nove ber_ 280,743 241.645 1,407,062 1,216,041
Cincinnati North_ November_
106,336
88,875
557,162
497,074
Pitts do Lake Erie November_ 1,622,722 965,533 7,676,312 5,369,850
Rutland
November_ 287,916 241,699 1,491,677 1,309,613
N Y Chic & St L. November_ 908,126 790,547 4,446,308 3,839,083
Total all lines.... November_ 21728813 18008724 108094145 93,413,474
N Y Ont & Western November_ 677,327 624.686 3,812,308 3,705,237
N Y N H do Hartf_r November_ 5,161,870 4,611,180 26.131,441 23,295,705
NY Susq & West
November_ 307,807 266,169 1,426,179 1,297,296
Norfolk & South__r November_ 228,606 195,490 1,091,545
940,871
Norfolk & Western_ November_ 2,990,353 2,411,203 14,543,358 12,323,597
Northern Central
November_ 1,158,437 1,004,537 5,519,114 4,978,114
Northern Pacilic....r November_ 6,690,433 6,418,352 35,681,803 32,004,574
Pacific Coast Co
November_ 638,146 489,809 3,668,797 2,877,809
Pennsylvania Co_ _r November_ 4,742,466 3,436,074 23,753,539 18,469,368
d Penn-E ot P & E November_ 14467717 12199 817 69,546,924 60,010,024
d West of P & E_ November_ Inc 1,94 7.300
Inc 7,87 9,700
Pero Marquette_t November_ 1.390,746 1,189,803 6,940.648 6,093,298
Phila Bait & Wash_ November_ 1,509,4591,387,159 7,675,633 7,050,135
Pitts Cin Ch & St L. November_ 2,898,843 2,335,331 13,995,213 11,722,890
Raleigh do Southp't November_
14,326
11,712
51,292
62,861
Reading Company_
Phila. & Reading_ November_ 4,000,848 3,524,507 18,344,231 16,553,330
Coal & Iron Co__ November_ 3,532,035 3.657,764 12,392,035 13,761,304
Total both cos___ November_ 7,532,883 7482,271 30,736,268 30,3154.32
Rich Fred & Pot___ October_
169,694 151,220
651,229
369,545
to Grande June... October_
112,708
82,504
380,323
304,543
Rio Grande South__ 1st wk Jan
6,222
11,102
258,171
331.813
Rock Island System November_ 3,873,966 5,107,207 29 651,031 26,443,315
St Jos & Gr Island_ November_ 137,839 131,946
753,747
736,098
St L fSe San Fran___ November_ 3,792,528 3,332,117 18,120,167 16,105,150
Chic & East Ill__ November_ 1,072,516 920,784 4,972,105 4,377,129
951,953
(Evansv do Ter H November_ 224,219 173,971 1,085,998
Total of all lines_ November. 5,089,263 4,426,873 24 178,27C 21,434,233
St Louis Southwest_ 1st wk Jan 184,345 166,913 3,979,230 5,697,728
San Ped LA & S L. October_
709,261 649,711 2,828,048 2,304,577
Seaboard Air Line_r October_ 1,630,651 1,437,952 5,620,313 4,941,782
Atlanta & I31rm_r October_
87,508
01,878
309,878
342,721
Florida W Shore r October...
11,373
9,888
28,188
32,252
Southern Indiana_r November_
124,961 102,237
604,566
529,489
c Southern Pac Co__ November_ 12324026 11083203 58,635,947 52,188496
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
Cin N 0 do Tex P. 1st wk Jan 146,974 134,584 4,587,899 4,022,688
Ala Great South_ 1st wk Jan
66,739
58,453 2,088,334 1,873,104
Georgia So & Fla_ 4th wk Dec
83,153
61,112 1,171,349
960,435
Texas Central
4th wk Dec
39,364
47,328
555,043
636,978
Texas & 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 & Ohio Cent November_ 389,161 372,157 1,876,264 2,197,608
19,295
Toledo Peor do West 1st wk Jan
15,920
618,062
596,088
Toledo St L do West 3d wk Dec
84,435
79,898 1,892,700 1,735,004Tombigbee Valley
November_
7,286
7,712
32,834
29,421
Unlon Pacific Syst_ November_ 8,341.783 7,241,813 10,816,005 36,057,368
Vandalia
r November_ 834.501 760,887 4,144,957 3,849,403
Virginia & Sou West November_
522,206
105.425 105,741
529,949
Wabash
1st wk Jae 472,99' 446,338 15,307,573 13,805,521
Western Maryland r October_ 607,69i 541,804 2,340,744 2,086,235
West Jer & Seashore November_ 377.963 324,763 3,021,032 2,739,532
Wheeling & L E--r November_ 621,756 458,275 3,092,771 2.573,581
Whitelliv(V02 wks end Dec 4
1,441
962
Wrightsville & Tenn November_
29,982
24,603
140,490
119,773
Yazoo & Miss Vail. M.:ember 1,070,671 1,166,229 5,387,981 3,329,162
- -- ----Current
Previous
Various Fiscal Years.
Year.
Pertol.
Year.
Bellefonte Central
Tan
I Delaware & Hudson
Jan
Manistique
Jan
a Mexican Railway
Jan
a Mexican Southern
Jan
e N Y Central & Hudson River_ Jan
Lake Shore & 'Michigan South Jan
n Lake Erie & Western
an
Chicago Indiana & Southern_ Jan
Michigan Central
Jan
Cleve Chi Chicago & St Louts Jan
Peoria & Eastern
Jan
Cincinnati Northern
Jan
Pittsburgh do Lake Erie
Jan
Rutland
Jan
New York Chicago & St Louis Jan
Total all lines
Jan
Northern Central
Jan
a Penn-East of Mesh & ErLe_ Jan
Pittsburgh
&
d West of
Erie
Jan
Piffle Baltimore & Washington_ Jan
Pitts Cin Chicago & St Louis_ Jan
Rio Grande Junction
Dec
Jan
Texas & Pacific
West Jersey
Jan
.. & Sea,hore
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
Nov
Nov
Nov
Dec
Deo
Nov
Nov
Nov
Nov
Nov
Nov
Nov
Nov
Nov
Nov
Nov
Nov
Nov
Nov
Nov
Nov
Nov
Oct
Jan
Nov
$57.397
30
$59,983
30 17,767,178 16,894,360
37,985
30
10.70o
21 7,330,500 7,102,500
21 1,305,185 1,223,015
30 85,159,408 76,633,979
30 11.131,528 35,535,634
30 4,548,781 3,977,415
30 2,897,370 2,410,991
30 25,070,416 22,122,789
36 25,210,125 22,030,345
30 2,743,444 2,480,095
30 1,081,794
802,990
30 13.459,155 0,457.565
30 2,861,732 2,543,104
30 9,117,873 8,343,102
30 213290635 186464009
30 11,230,503 10,409,408
30 139689 873 124033 073
Inc 12. 680,800
30
30 10,140,846 14,790,246
30 27,636,973 23,0.17,433
31
873,212
719,639
7
211,297
247,447
30 5,1'
'i! 5.011.884
AGGREGATES OF GROSS EARNINGS-Weekly and Monthly.
Weekly Summaries,
Cuent Year Prey's Year Inc. or Dec.
%
Monthly Summaries.
Cuent Year Prev's Year Inc. or Dec.
a
s
$
$
$
$
Ith week Oct (40 roads)..--- 19,677,24" 17,798,946 +1,878,206 10.55
Month Mch 1900 (890 roads). 205,708,319 183,453,00f" +.22,254,413 12.13
at week Nov (43 roads)._ 12,978,231 11,103,399 +1,781,832 13.92
Month April 1909 (895 roads)_ 197,011,539 175 002,648 +2,008,891 12.50
d week Nov (45 roads).- _ 13,450,158 11,691,325 +1.758,833 15.05
Month May 1909 (893 roads). 201,625,122 174.475.411 4-27.149.711 15.58
(I week Nov (44 roads)._ 13,003,412 11,852,248 +1.151,164 0.71
Month June 1909 (693 roads). 210,357.226 183.983 821 +26,373,307 14.33
4th week Nov (42 roads).... 16,900,874 23,971,227 +2,929,6.17 20.07
Month July 1909 (885 roads). 219.964,730 105.245,655 +24.719,084 12.66
1 St week Dec (43 roads)._ 12,059,588 11,032,034 +1,027,551 0.31
Month Aug 1900 (883 roads). 236.559.877 206,877,014 +29,682.863 14.35
2(I week Deo (41 roads)._ 11,688,160 11,142,346
+545,814 4.89
Month Sept 1909 (711 roads). 236,874,426211.281,315 +25,593,110 12.11
3(1 week Deo (40 roads)____ 12,089,781 11,258,272
+831,509 7.20
Month Oct 1009 (699 roads). 251.187,152.225.109,822 +26,077.330 11 58
th week Dee (42 roads)._ 17,522,287 15.948,781 +1,573,500 9.83
Month Nov 1009( 45 roads). 65,522,7321 58,007,375 +7.515,357 12.91
at week Jan (32 roads) _ _ _ _
fl n92.nnn
scream (1
.4.7251(20 1(35
11frin t It non 1009 (48 roads) _ 59.858.5211 5it fine nen .4.322(L441 5.69
a Mexican currency. h Includes earn rigs of Gulf & Chicago Division. c Includes the Houston & Texas Central and
its subs diary lines in both
years. d Cs.vers lines directly operated. e
Includes the New York & Ottawa. the St. Lawrence & AdIrondac:c and the Ottawa & N. Y. Ry., the latter
of which, being a Canadian road, does not make
returns to the Inter-Stato Commerce Commission. I Includes Evansville do Indiana 1212. g Includes
the Cleveland Lorain & Wheeling Ily In bolls years
h Includes earnings of Colorado & Southern. Fort Worth & Denver City and all affiliated lines. excepting Trinity & Brazos Valley RR. k Includes In both
earnings of Denver Enid & Gulf RR., Pecos Valley Systetn and Santa Fe Prescott di •
Phoenix fly. I These figures do not Include receipts fromyears
sale of coal. a Includes the Northern Ohio 1113. o Figures here are on the old basis of accounting-not the new or Inter-State Commerce Commission method. p Includes
earnings of Mason City & Ft. Dodge and Wisc. Minn. & Pacific. r 't hese
figures are on new basis prescribed by Inter-State Commerce CommIssiOn.
3 Includes Louliville do Atlantic from July 1 1002 and the Frankfort & Cincinnati from Nov. 1 1909.
Latest Gross Earnings by Weeks.-In the table which
follows we sum up separately the earnings for the first week
of January. The table covers 32 roads and shows 8.35%
increase in the aggregate over the same weeklast year.
First Week of January.
[VoL. Lxxxx.
THE CHRONICLE
164
1910.
Increase. Decrease.
1909.
3
8,286
58,453
Alabama Great Southern
66,739
6,197
122,991
129,188
Buffalo Rochester & Pittsburgh
29,601)
174,900 . 145,300
Canadian Northern
1,315,000 1,098,000 217,000
Canadian Pacific
19,500
185,000
204,500
Central of Georgia
476,215
50,289
526,504
Chesapeake & Ohio
2,116
77,590
79,706
Chicago Indianapolis & Louisv_
12,390
134,584,
146,974
Cin New Orleans & Texas Pac_ _
272,024
Colorado & Southern
270,601
340,400
Denver ec Rio Grande
318,900
19,588
Detroit & Mackinac
16,886
41,835
599
Duluth South Shore & Atlantic
42,434
Grand Trunk of Canada
Grand Trunk Western
536,240 118,645
654,885
Detroit Grand Haven & Mil_
Canada Atlantic
124,000
7,000
131,000
International & Great Northern
135,525
1,489
137,014
Interoceanic of Mexico
47,435
50,445
3,010
Iowa Central
831,455 104,255
935,710
Louisville & Nashville
122,325
128,753
6,428
Mexican Internat4onal
69,955
67,043
2,912
Minneapolis & St Louis
Minneapolis St Paul & S S M.._}
275,875
325,217
49,342
Chicago Division
703,000
769,000
66,000
Missouri Pacific
174,496
168,457
6,039
Mobile & Ohio
916,620,
853,620
National Railways of Mexico
6,222
11,162
Rio Grande Southern
184,345
166.913
17,432
St Louis Southwestern
946,061
879,075
66,986
Southern Railway
241,297
247,447
Texas.& Pacific
19,295
15,920
3,375
Toledo Peoria & Western _.,_ _
472,992
446,338
26,654
Wabash
1,423
21,500
2.702
Interest Charges and Surplus.
-Int., Rentals, &c.-- -Bat, of Net E'ngs.Current
Previous
Current
Previous
Year.
Year.
Year.
Year.
$
$
3
3
dot 26
def 137
Bridgeton & Saco River_Nov
593
637
July 1 to Nov 30
4,356
4,900
3,053
3,104
Duluth So Sh & At1___ _Nov
101,868
80,241 xdef20,075 xdef12,113
x50,774 xdef60,809
, July 1 to Nov 30
469,878
441,700
Nov
3,989
Maryland & Penna
5,294
3,959
3,979
July 1 to Nov 30
19,793
35,328
19,793
42,862
Nov
Mineral Range
13,034
13,501
xdef 465
xdef 480
66,018
July 1 to Nov 30
65,472 xdef3,178
x13,562
8,333
Rio Grande Junction..__ _Oct
8,333
25,479
16,418
91,667
91,667
Dec 1 to Oct 31
124,225
171,797
18,878
19,670
x6,565
Rio Grande Southern_ _ _Nov
x1,835
94,453
96,029 xdef23,835
July 1 to Nov 30
x23,379
23,678
24,723 xdef.4,058 xdef.7,358
Toledo Peoria & West_ _Nov
23,228
24,787
December
x748 xdef.1,898
144,433
140,604
x22,558
July 1 to Dec 31
x8,734
Roads.
INDUSTRIAL COMPANIES
-Int., Rentals, &c.- -Bat. of Net E'ngs.Current
Previous
Current
Previous
Year.
Year.
Year,
Year.
$
$
$
$
Amer Tel ec Tel Co (AssociaNov 1,146,940 1,064,310 2,742,298 2,686,972
ted Cos)
11,723,628 11,738,496 27,844,673 25,748,533
Jan 1 to Nov 30
3,642
Jacksonville Gas Co_ __ _Nov
2,983
5,050
4,034
34,423
Keystone Telephone Co_Dec24,719
22,665
10,106
183,949
206,978
July 1 to Dec 31
93,019
59,481
7,491
6,314
18,724
Okla Gas & Elec Co_ ___Nov
13,096
31,218
32,284
63,156
July 1 to Nov 30
41,550
6,987
7,417
17,529
15,886
San Diego Cons G & El__Nov
59,624
56,335
89,871
Apr 1 to Nov 30
88,259
Companies.
63,000
4,940
6,150
x After allowing for other income received.
Electric Railway Net Earnings.-The following table gives
the returns of ELECTRIC railway gross and net earnings
reported this week. A full detailed statement, including all
For the fourth week of December our final statement roads from which monthly returns can be obtained, is given
covers 42 roads and shows 9.83% increase in the aggregate once a month in these columns, and the latest statement of
this kind will be found in the issue of Dec. 25 1909. The
over the same week last year.
next will appear in the issue of Jan. 29 1910.
Total (32 roads)
Net increase (8.35%)
Fourth Week of December.
9,392,639 8,666,810
1909.
1908.
825,544
725,829
99,715
I Increase. Decrease.
-Gross Earnings- -Net Earnings
Previous
Current
Previous
Current
Year.
Year.
Year.
Year.
5
Western Ohio Ry_b____Nov
36,418
41,474
18,020
15,913
July 1 to Nov 30
227,841
204,292
111,951
97,454
Roads.
Previously reported (25 roads)_ 15,391,734 14,074,702 1,368,158
24,410
115,448
139,858
Alabama Great Southern
6,468
65,802
72,270
Atlanta Birmingham & Atlantic
123,799
18,589
142,388
Chicago Ind & Louisville
217,010
36,875
253,885
Cinc New On & Texas Pacific_ _
8,940
6,413
15,353
Denver Northwest & Pacific__ _
30,658
27,797
2,861
Detroit Be Mackinac
36,678
1,649
40,307
Detroit Toledo & Ironton
58,210
51,115
7,085
Ann Arbor
79,112
69,013
10,099
Duluth South Shore & Atlantic
83,153
61,112
22,041
Georgia Southern & Florida_ _ _ _
Grand Trunk of Canada
1,140,943 1,018,970 121,973
Grand Trunk Western
Det Gr Hay & Milw
Canada Atlantic.
Mineral Range
25,845
20,759
5,086
Nevada-California-Oregon
9,197
8,108
1,089
47,528
Texas Central
39,364
Total (42 roads)
Net increase (9.63%)
17,522,287 15,948,781 1,632,796
1,573,506
Cl.' 26
a Net earnings here given are after deducting taxes.
b Net earnings here given are before deducting taxes.
Interest Charges and Surplus.
-Int., Rentals, &c.- -Bat, of Net E'ngs.Current
Previous
Current
Previous
Year. .
Year.
Year.
Year.
-Roads.
Western Ohio Ry
July 1 to Nov 30
Nov
15,410
77,258
14,868
76,314
2,610
34,693
1,045
21,140
x After allowing for other income received.
8,164
ANNUAL REPORTS.
59,290
Annual Reports.-An index to annual reports of steam
Net Earnings Monthly to Latest Dates.-The table fol- railroads, street railways and miscellaneous companies which
lowing shows the gross and net earnings of STEAM railroads have been pubiished during the preceding month will be
given on the last Saturday of each month. This index will
and of industrial companies reported this week:
-Gross Earnings- -Net Earnings-- not include reports in the issue of the "Chronicle" in which
Current
Previous
Current
Previous
it is published. The latest index will be found in the issue
Year.
Year.
Year.
Year.
Roads.
of Dec. 25. The next will appear in that of Jan. 29.
$
I
$
3
567
3,424
3,077
500
Bridgeton & Saco Illy b_Nov
Third Avenue Railroad, New York.
22,604
23,455
7,409
8,004
July Ito Nov 30
(Income Accounts for Year endihy Sept. 30 1909.)
367,469
293,693
Central of Georgia_a_ _ _ _Nov 1,117,427 1,008,065
5,174,319 4,899,432 1,604,526 1,348,906
July 1 to Nov 30
The following figures, furnished by Receiver Whitridge,
509,224
433,785
198,180
138,062
Chicago Ind & Loulsv_b_Nov
793,224 appear in connection with the reorganization plan, an ab2,603,696 2,355,029 1,018,897
July 1 to Nov 30
232,191
270,968
77,780
73,436 stract of which is given on another page:
Duluth So Sh & Atl_ b_ _Nov
1,483,378 1,170,630
498,396
346,705
July 1 to Nov 30
Grand Trunk of Canada756,254
799,079
Grand Trunk Fly ____Nov 2,965,158 2,784,124
14,812,762 13,689,574 4,213,416 4,157,451
July 1 to Nov 30
492,489
437,498
99,763
85,650
Grand TrunkWestern_Nov
687,151
602,960
2,586,068 2,387,296
July 1 to Nov 30
148.429
172,761
49,639
26,280
Del Gr Hay & Milw_ _Nov
860,397
762,362
217,776
190,280
July 1 to Nov 30
45,745
Atlantic
Nov
208,773
65,698
175,681
Canada
940,207
850,663
159,621
59,371
July 1 to Nov 30
7,968
33,662
29,622
9,253
Maryland & Penna_a__ _Nov
62,655
55,121
182,675
170,265
July 1 to Nov 30
70,838
66132
11,600
326
11 ,
Nov
Mineral Range -b
77,524
369,495
362,503
61,307
July 1 to Nov 30
638,146
489,899
100,281
70,843
Nov
Pacific Coast
865,441
462,544
3,668,797 2,877,809
July 1 to Nov 30
82,504
n33,812
n24,751
112,708
,Rlo Grande Junction__ __Oct
719,639 n263,464
n215,892
878,212
Dec 1 to Oct 31
53,694
25,170
21,424
55,356
Rio Grande Southern_ b_Nov
269,152
62,369
113,510
207,965
July 1 to Nov 30
17,080
88,533
14,698
90,207
Toledo Peoria & Wes_ b_Nov
92,19424,535
18,800
105,468
December
580,169
156,198
138,693
598,768
July 1 to Dec 31
COMPANIES.
INDUSTRIAL
-Gross Earnings---Net Earnings
Previous
Current
Previous
Current
Year.Year.
Year. '
Year.
Companies.
$
$
$
$
Amer Tel & Tel Co (Associated Cos) b
Nov11,788,696 10,769,662 3,889,238 3,751,282
Jan 1 to Nov 30
123,434,320 114234,927 39,568,301 37,487,029
8,692
13,584
7,017
Jacksonville Gas Co_a_ _Nov
16,792
47,384
88,854
44,531
Keystone Teleph Co_a_ _Dec
94,790
276,968
266,459
July 1 to Dec 31
528,237
551,052
26,216
19,411
42,954
65,421
Okla Gas & Elec Co_a_ _Nov
94,374
73,834
170,806
247,558
July 1 to Nov 30
24,946'
22,873
San Diego Con G & El Nov
42,150
36.124
149,495
144,591
266,166
235,318
Apr 1 to Nov 30
a Net earnings here given are after deducting taxes.
is Net earnings here given are before deducting taxes.
it These figures represent 30% of gross earnings,
Gross earnings
Expenses
UnionRy. 42d St.,Ry. Dry.
Dk.Ry. Total.
3d Ave.
$2,358,364 $2,019,829 $1,309,269 $622,255 $6,304,719
1,555,121 1,394,043
710,942 367,730 4,027,838
8801,243
Net earnings
Sale of power-less cost..._ x111,813
146,399
Rental of equipment
17.780
Interest and miscellaneous_
$625,786
671
$593,327 $254,525 $2,276,881'
x411,813
146,399
4,997
25,114
1,665
$1.379,235 8326,457
Total
Interest on funded debt__. a$250,000 $100,000
103.814
720
Interest on loans & mtges_ _
123,221
*Taxes
90,490
Hire of equlpt. & rents
39,552
Extraordinary Impts., &c_
78,959 Cr.10,120
3598,324 $256,190 $2,860,207
$72,000 597,500
$969,500
109,535
5,000
72,902 27,847
313,960
187,681
85,273 62,855
96,631
9,083
18,710
Total deductions
$555,994 8220,642 $243,758 8156,912 $1,177,307
359,566 99,278 x1,682,900
405,815
823,241
Surplus
-a This item includes only the interest on the 1st M.5% bonds maturing July 11937,
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. April
1 to Sept. 30 1909-amounting to $112,386.-V. 90, p. 54.
American Sugar Refining Co.
(Official Statement to Stockholders.)
A lengthy statement submitted by the directors at the
annual meeting on Wednesday, which contains much information 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.,
JAN. 15 1910. I
THE CHRONICLE
Lawyers' Mortgage Co., New York.
(Report for Year ending Dec. 31 1909.)
•The report of President Richard M. Hurd for the late
fiscal year is published in the advertising pages of to-day's
"Chronicle." The report shows:
,OPERATIONS FOR CALENDAR YEARS.
1908.
1909.
1907.
35,33,294
Guar. mtges. sold
Guar. mtges. paid off_ _ _ 17,908,748
Guar. mtges. outstand'g
Dec.31
94,702,480
Income fromPremiums for guaranties
410,888
Interest on mortgages
235,925
Rents, commissions, &c.
7,362
Gross earnings
ExpensesRent
Salaries
Advertising
}
Stationery
Taxes and gen. expenses
Gross expenses
Net earnings
Dividends paid
1906.
27,11211558
13,554,349
20,36,677
11,091,102
22,959,085
9,381,716
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
654,175
569,931
503,812
421,989
19,000
86,625
14,404
12,984
71,910
110,671
1 3,111
21,057
8,562
64,889
8,595
2,944
17,631
6,053
53,788
8,894
2,768
17,095
145,998
102,622
119,733
508,177
401,190
450,198
(12)390,000 (10)250,000 (10)250,000
88,599
333,389
(8)200,000
25,969
Balance, surplus
133,389
118,177
151,190
200,198
Note.-In addition to the cash earnings are the unearned premiums,
which consist of the company's contract profit of 35 of 1% per annum on
outstanding mortgages from the date of the annual statement to the maturity 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. 11906, $449,200; Jan. 1
1907, $591,508; Jan. 1 1908, $701,204; Jan. 1 1909, 8836,115; Jan. 11910,
$1,036,961; total net increase since Jan. 1 1903, $933,406.
BALANCE SHEET DEC. 31.
1909.
1908.
1909.
1908.
AssetsLiabilities$
$
N.Y.City mtges_ 5,544,348 3,638,460 Capital
4,000,000 2,500,000
Co's Brooklyn
Surplus
2,000,000 2,000,000
bldg., cost__ . 175,000 175,000 Undivided prof_ 247,745
129,568
Real estate
14,264 Mtges, sold, not
Cash
1,224,328 1,219,829
delivered
695,931
417,985
Total
6,943,876 5,047,553
Total
6,943,676 5,047,553
There are 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 113,000.-V. 89, p. 221.
H. B. Claflin Co.
(Report for the Season ending Dec. 311909.)
President John Clafiin says:
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 1909.
Net
8 Months to
-Interest and DividendsBalance,
Dec. 31Earnings.
Pref. Stock.
Surplus.
Corn. Stock.
1909
$378,506
$142,126
(4)$153,164
$83,216
1908
310,686
142,126
(4)153,184
15,397
1907
504,999
142,126
(4)153,164
209,709
1908
409,118
142,126
(4)153,164
113,829
1905
503,493
142,126
(4)153,164
208,204
1904
320,937
142,126
(4)153,164
25,647
INCOME ACCO UN7' YEAR ENDING DEC. 31
1909,.
$670,339
$284,252
(8)$306,328
$79,759
1008
303,250
(8)306,328
284,252
clef.287,329
1007
959,274
284,252
(8)306,328
368,694
1908
761,377
(8)306,328
284,252
170,797
1905
821,427
284,252
(8)306,328
230,847
1904
631,697
284,252
(8)306,328
41,117
BALANCE SHEET DEC. 31.
1909.
1908.
1909.
1908.
Assets$
$
LiabilitiesCash
2,033,957 3,147,902 First pref. stock__ 2,600,300 2,600,300
Dividends
171,332
171,332 Second pref. stock 2,570,600 2,570,600
Bills receivable... 2,181,204 2,142.294 Common stock__ 3,829,100 3.829,100
Open accounts._.. 2,065.128 1,688,862 Open accounts__ _ 8,775,140 4,526,244
Merchandise
11,117,437 6,146,010 Foreign exch., &c.. 465,500
490,000
Store property__ 2,739,182 2,739,182 Surplus reserve_ _ ..*1,781,999 1,770,058
Stable
27,197
27,197 Profits during fall_ 378,506
310,686
Horses, trucks, dm
65,710
54,210
Total
20,401,145 16,096,989
Total
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 div. on corn. stock declared in Jan., payable Jan. 15 1910. "Total dividends to date, $11,097.994."-V. 89. P. 165.
Swift & Company, Chicago.
(Report for Fiscal Year ending Sept. 30 1909.)
At the annual meeting last week, Treasurer L. A .Carlton
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 stearin°, tallow and greases, wool, hides and pelts, soap and fertilizers. 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 Packingtown, namely, the disappearance 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
benefits in case of sickness, accident or death, is popular beyond all expectations. 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 occurred 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 cuts, of which there is
165
only about 28% of the total. The proper preparation and cooking ofithe
cheaper 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
saving in the cost of living. This work is commendable and should be
OPERATIONS FOR FISCAL YEARS ENDING OCT. 3.
1908-09.
1907-08.
1906-07.
1905-06.
Business
"Over
"Over
"Over Considerably over
done
$250,000,000 $240,000,000 $250,000,000 $200,000,000'
Divs. (7%)
4,025,000
3,500,000
3,500,000
3,500,000
Added to surp
4,000,000
2,800,000
2,703,995
2,500.000
Added to res.fun.
1,306,114
say 165,000
96,824
501.883Total_ _ _ _
__
$8,190,000
$7,606,114
BALANCE SHgET OCT. 3
1909.
$6,300,819
1908.
$6,501,883.
1907.
AssetsReal estate, lmpts.,inciud. branches..
Horses, wagons and harness
Quick assetsSundry stocks and bonds
Cash
Accounts receivable
Live cattle, sheep, hogs, dressed
beef, &c., on hand
Total assets
LiabilitiesCapital stock paid in
Bonds
Reserve for bond interest
Bills payable
Accounts payable
Reserve for taxes, &c
Surplus
112,924,296 101.065,542 100,668,533
60,000,000 50,000,000 50,000,000
5,000,000
5,000,000
5,000,000'
62,500
62,500
62,500
13,882,200 21,716,843 23,876,239
8,596,517
3,686,415
5,236,124
3,383,079
2,599,784
1,293,670
22,000,000 18,000,000 15,200,000.
Total liabilities _
-V. 90, p. 114.
112,924,296 101,065,542 100,668,533
__
28,640,646
139,833
28,751,026
132,378
28,203.703144,196
17,356,084
3,308,235
36,433,482
13,486,800
3,107,601
33,418,734
12,233,999
3,358,99
31,992,079
27,046,016
22,169,003
24,735,5
American Ice Co.
(Report for Fiscal Year ending Oct. 311909,)
President Oler upon the adjournment of the annual meeting this week said:
As regards the increase in the profit account, I may say this is due to
the betterment of our manufacturing conditions; instead of paying
dends, the directors of the American Ice Co. believe it better to investdivithe
money in new manufacturing plants and in the reduction of interest-bearin
g
fixed obligations. Since the issuance of $3,000,000 first interest-bearing
mortgage bonds last spring, this company has acquired over $1,000,000 of
these bonds, thus reducing the fixed charges to the extent of the accrued
interest.
We are now engaged in harvesting all along the line. We find conditions
very favorable, and if conditions remain good we should be well through
within three weeks' time.
EARNINGS, EXPENSES, ea., FOR YEAR ENDING OCT. 31.
Earnings ee 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 $2,871,108.
Less operating expenses_ 3,899,862
3,897,339
3,931,338
4,470,353$6,584,038
$2,126,890
15,335
$6,581,246 $6,641,189
$1,537,346 $1,300,336
20,527
39,908
$7,341,450$2,982,011
42,716
Gross earnings
$2,142,225
Distributed as followsBond interest
$240,980
Int. on floating debt__ _
50,059
Rents
162,533
Taxes and insurance__ _
177,330
Maint. and improvem'ts
485,363
$1,557,873
$1,340,244
$3,004,727
$210,152
73,727
161,631
209,631
352,708
$211,279
110,679
169,576
200,299
497,078
$208,803
57,366
178,382
138,175467,137
$1,096,245
Net gain
$1,045,980
Net profits of sub cos. in
excess of dive. from same 53,374
$1,007,849
$550,024
$1,188,911
$151,333
$1,047,864
$1,956,863
Received from sub. cos..
Total net profit
z$1,099,354
61,308
34,032
43,738
$611,332
y$185,365
$2,000,601
z A dividend of 134% 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. 1908, payable Dec. 15 1906 (see V. 83, p. 1058). The American Ice
Securities Co., as owner of about $14,300,000 of the preferred stock, received 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 $1,000,000.
BALANCE SHEET OCT. 31.
1909.
1908.
1905.
1908.
Assets$
Liabllities8
8
Gen. prop'ty acct. 9.022,227 8.534,022 Preferred stock__ _14,920,200 14,9:.- 0,:00•
Good-will, water &
Common stock__ 7,181,330 23,871,100.
patent rights___17,195,586 33,260,055 Bills payable
110,726
6i0,.00
Invest. securities_ 2,625,312 2,637,162 Underlying bonds_ 69.3,550 1,1330.t 50
Cash and notes__ 473,110
125,594 Coll, trust bonds
Loans
6,000
Amer. Ice Co__ 1,903,000 1,959,C00
Bonds and mtges_
100,105 1st & gen. M. bds_ 2.346,000
100,750
Insur. premiums__
13,908
12,447 Real estate mtges. 261.020
4O5,30Ice, coal, &c
528,770
533,769 Accts., &c., payAccts. receivable,
able
461,072
457,1.30ice, coal, &c _ 862,004
836,348 Profit & loss (sur.).2,959,769 2,137,592.
Total
30,821,667 46,045,502
Total
30,821,667 46,045.502
• The above surplus, $2,959,769, does not include $53,374 profits of
subsidiary companies not yet paid into the treasury. See new directors
on a following page.-V. 89, p. 1598.
GENERAL INVESTMENT NEWS,
RAILROADS, INCLUDING ELECTRIC ROADS.
American Railways.-Listed in Philadelphia-Acquisition.-The Philadelphia Stock Exchange has listed $1,104,400 additional capital stock, issued in connection with theacquisition of the Roanoke Traction & Light Co., the Lynchburg Traction & Light Co. and the Johnstown Passenger
Ry. Co. The total amount of stock to be issued in this connection is 28,100 shares, or $1,405,000. The totll 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 ettended until Jan. 26, after which
no further stock will be exchanged. At the meeting Jan. 10 the American
Railways Co. will take over the operatioa of the Johnstown linesand the
annual dividend of the Johnstown Company will be passed, the earnings
to be applied to a redu?rill of Its floating debt.-V. 89, p. 1595 , 844.
Atlanta Birming'aani & Atlantic RR.-Coupons of Equipment Bonds Paid.-Receiver H. M. Atkinson on Jan.6 wrote:
166
THE CHRONICLE
The Installment due Nov. 1 on the 1906 equipment bonds was paid and
the coupons adjusted as between the railroad 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, 0. 223, 102.
Atlantic Coast Line RR.-Listed.--The 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 additional 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:
Gross
Three
Months.
Earnings.
$5,830,732
1909
5,220,512
1908
-V. 89, p. 1595.
Net (after
Taxes.)
$1,323,213
1,023,946
Other
Income.
$1,111,631
Fixed
Charges.
$1,357,880
Balance,
Surplus.
$1,076,964
Baltimore & Ohio RR.-Baltimore & Ohio Chicago Terminal
RR. Co.-See that company below.
Increase in Traffic-New Rolling Stock-Improvements Made
and 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:
It is true the demands on the road of late have taxed its facilities in
certain directions to the utmost, but this does not necessarily mean that
the railroad has failed to handle a normal tonnage with reasonable dispatch. On the contrary, the preliminary figures for December show a very
decided increase in business handled during that Month, In which even the
coal business, as to which there has been so much talk, will share, and this
despite the severe weather conditions. It is safe to say, had the proportion
of the 100 locomotives ordered, which It was arranged should be delivered
In December, been received, there would have been no cause for complaint.
The locomotives are now coming from the shops, and It Is expected deliveries will continue steadily from now on, and, with the 10,000 freight cars
ordered, will Undoubtedly meet requirements for a tonnage greatly In excess of any heretofore handled.
When in 1896 the receivers took charge, tile property operated colsisted of 2,094 miles of line, of which but 623 miles was double track.
The freight equipment consisted of 26,440 cars, 5,000 of which were idle,
awaiting repairs, and of the 857 englneS, over 200 were
unfit for service.
The first work of the receivers was practically to rebuild the property. In
which the entire line was relaid with heavy rails, replacement of brldgcs,
&c., but the great work of extension arid betterment was done on the entire system, comprising the original line and lines subsequently 'acquired
and operated. The continuous upbuildIng of the system since February
1896 has not only made possible the development of vast coal and timber
areas, but has afforded facilities for innumerable Industries in cities and
towns on the line, and has placed the road, through the reconstruction of
bridges, roadway and buildings, and through the addition of equipment,
well in line with other modern trunk-line systems.
Capital Expenditures Aggregating $151,704,000 in 13 Years-$24,000,000
Additional to Be Spent.
There has thus been expended on the property from 1896 to
Dec..31 1909
$91,356,582
New equipment of the highest capacity, 1896 to Dec. 31 1909,
60,347,421
has cost
To complete construction and betterments now authorized and
10,000,000
being actively progressed will require over
Equipment contracted for and now being delivered will cost
14,000,000
approximately
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 subsidiary terminals, 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. & 0. policy
has been "a negative one."
Total Traffic, occ., Showing Increase Accompanying Physical Expansion
and Improvements.
1908-09'.
1896.
1900-01.
Year3,220
4,003
2,095
Miles operated directly
5,521
7,509
3,541
Total trackage
17,861,927 33,528,513 48,223,474
Revenue tonnage (tons)
r
.585
Bituminous coal tonnage(tons)13,346,700
Gross revenue, "Income lines"
$23,944,781 $47,971,223 $71,043,519
If tile controlled or affiliated lines be included for the year 1908-09, 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. & 0. handled 18,289,705 tons of bituminous coal, an Increase over the same period of 1908 of
324,358 tons.-V. 90, p. 107.
I
Baltimore &phiolOhicago Terminal RR.-Reorganized Company.-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 on Jan. 6 for the B. & 0.
RR. Co. (V. 90, p. 108).
Brooklyn Rapid Transit CO.-Wages Increased.-An increase of wages of the employees of both the surface and elevated 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.
At the instance of the committee a new corporation has been or will be
organized, under the laws of Illinois (see Chicago United By.,V.89, p. 1541),
to acquire the properties of the North Shore Company and the poropertles
of the Consolidated Company, and such additional properties, if any, as
the committee may in its discretion deem advisable to be acquired.
Wherever the expression "properties of the Consolidated Company" is
used in this plan, it includes all the property now belonging to the Consolidated Company except those parts covered by the $2,500,000 mortgage
($2,000,000 ontstanding) of CWero & Proviso Street RR. Co. or the $750,000 mortgage of Ogden Street y. Co. The Transit bonds, North Chicago
bonds, Evanston bonds, North Side bonds, Jefferson bonds and North
Shore bonds are referred to as the "underlying bonds."] The 6% first lien
receivers' certificates outstanding are as follows; Chicago Electric Transit
Co., $98,500, dated May 1 1909; North Ch. El. Ry., $160,728, dated May 1
1909; North Shore Co., $168,500, dated July 1 1908.
Securities to Be Authorized by the New Company.
New 5% first mortgage bonds, covering all present and future property, to be issued from time to time for the reconstruction
and rehabilitation and for the acquisition of extensions and
additional property, and, in the discretion of the committee,
for the retirement of any receiver's certificates that may be
outstanding against 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
Not fixed
unofficially, may call for the issue of $6,000,000.-Ed.]
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 redemption on any semi-annual interest day, at par and Interest.
No dividend shall be paid upon the capital stock so long as any
of these bonds shall remain unpaid or shall be unprovided for by
cash deposited with the 'trustee, and a sinking fund shall be
provided out of such surplus net earnings as are not by the
mortgage reserved for other corporate purposes.
Of such bonds there will be issued, par for par, on account
of acquisition of the underlying bonds represented by certifi83,133,000
cates of deposit
Additional sinking fund mortgage bonds may be issued to
such extent as the committee may determine:(a) for the acquisition by or for the new company of additional properties (including 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 underlying 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
Not fixed
capital. Total
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 on any semi-annual interest day at par
and interest. No dividends shall be paid upon the capital
stock so long as any of these bonds remain unpaid or unprovided
for by deposit of funds with the trustee.
A portion of such bonds will be issued to acquire the deposited stock of the North Shore Co., dollar for dollar (plus
interest at 6% per annum from April 1 1909 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% notes
or scrip collaterally secured by gen. mtge. bonds equal in am't
650,000
to the notes or scrip so issued). Amount (not incl. int.)
Additional bonds to be issued to the holders of certificates of
67,500
deposit representing North Shore bonds
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 such instrument
shall provide for the Issuance thereunder of stock participation 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
Not fixed
consolidated bonds represented by certificates of deposit
The expenses of the reorganization, expenses of the receiverships and
any cash requirements which the committee may determine not to provide for by the issuance of sinkingfund mortgage bonds, may, in the discretion of the committee, be assessed against the holders of the 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.
Basis for Participation of Existing Securities in the Securities of the New Co.
To be Exchanged for
General
Sinking Fund
Mtge. Bonds.
Mtge. Bonds.
Present Securities%
Amount.
%
Amount,
Amount.
Class$1,097,000 100 $1,097,000
Transit bonds
868,000
868,000 100
North Chicago bonds_
155,000
155,000 100
North Side bonds
675,000
10
$67,500
675,000 100
North Shore bonds
208,000
208,000 100
Jefferson bonds
130,000
130,000 100
Evanston bonds
5100
650,000
650,000
North Shore stock
IAnd acc'd div'd
The holder of each certificate of deposit representing any of
the underlying bonds wilt also be pale], 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.
Consolidated bonds-Pro rata part of the total issue of participation certificates, subject to assessment as provided in the plan.-V. 89, p. 1541,
1279.
Chicago North Shore Street Ry.-Deposits.-The first
mortgage bondholders' committee, consisting of Wyllys W.
Baird, 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. 1 1910. No deposits 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.
This amount, It is stated, "will be further increased by efficient service,
depending entirely on the efforts of the men." Provision is made under
Chicago & North Western Ry.-Listed.-The New York
which by good conduct, promotion may be obtained to the higher grades
at periods earlier than those prescribed for advancement by length of ser- Stock Exchange has authorized to be listed on and after
pension
system
recently
vice alone. The increase Is In addition to the
Feb. 14 $30,502,800 additional common stock recently
adopted.-V. 89, p. 1595.
offered to stockholders at par on notice of payment in full,
Capital Traction Co., Washington, D. 0.-Report.-For making the total amount to be listed $130,121,700 (V. 89,
year ending Dec. 31:
p. 1482).
Interest, Dividends Balance,
Fiscal
Gross
Net
Other
Earnings.-For 5 months ending Nov. 30:
Surplus.
Year- Earnings.
Earnings,
Taxes, &c. (6%).
1909 _42,024,484
1,831,810
1908
-v. 89. D. 918.
$1,106,111
1,038,669
Income.
$29,294
24,164
$293,024
290,947
$720,000
720,000
$122,381
51,886
Interest,
Balance
Other
Taxes
Net Oper.
Five
Operating
Income. Rentals, &c. for Divs.
Paid.
Revenue.
Mos.
Revenue.
1909_433,824,726 $11,579,443 $1,140,000 $967,024 $3,817,213 $7,589,254
•
1908;_ 30,098,782 11,882,776
Dividends at the rate of 7% on the present amount of common stock
outstanding ($99,616,200) and 8% on the $22,395,000 preferred stock
call for $2,905,472 and $746,500,respectively,for the 5 months, leaving the
balance, surplus, for the 5 Months In 1909 $3,937,282.-V. 89, p. 1482.
Chicago Consolidated Traction Co.-Plan.-The reorganization committee, consisting of Charles G. Dawes, J. N.
Wallace, Hans Winterfeldt, Allen B. Forbes, E. K. Boisot,
G. P. Hoover and Andrew Cooke, has adopted a plan of
Chicago Rock Island & Pacific Ry.-New 011icers.-See
reorganization dated Jan. 11910, and will now apply to the
City Council for a franchise so that the system may without Rock Island Co. below.-V. 90, P. 108.
Chicago Terminal Transfer RR,-Successor.-See Baltifurther delay be put on its feet, both physically and finanmore & Ohio Chicago Terminal RR.above.-V.90, p. 108.
cially. The plan provides in brief:
JAN. 15 1910.]
THE CHRONICLE
Cleveland (Electric) Ry.-Relerendum Election Feb. 17.The City Council on Jan. 10 fixed Feb. 17 as the date for the
referendum election on the Tayler ordinance passed on
Dec. 18. Compare V. 89, p. 1667.
Colorado Railway, Light & Power.Co., Trinidad, Colo.New Bonds Offered.-Walston H. Brown & Brothers, New
York and Boston, are offering at 923/ 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:
•
Capitalization.
Bonds-First is due 1950: authorized, $5,000,000; In treasury,
$2,000,000
$3,000,000; outstanding
_ _ 5,000,000
Common stock authorized and Issued (par $100 per
the property, rights
The bonds are secured by a first mortgage on allshare)_and franchises of the company, organized as successor of the Southern
Colorado Power & Railway Co. (V. 90, p. 111). The most important
feature of the business is the manufacture and sale of electric 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, 203i miles, electric light, gas and electric power business
in and about Trinidad, serving a population of about 41,800. The coalmine owners are desirous that the company increase its plant to a capacity
that will enable them to contract for the additional power they require.
The nine franchises are without burdensome restrictions and are either
perpetual or run for fifty years, except that two minor franchises for gas
and electric light expire In 1930 and 1928 respectively,and can be renewed.
The company Is buying coal at $1 25 per ton, hauling it from the mines on
Its own road, and it also owns 200 acres of coal land which is held In reserve.
Sinking fund beginning with the year 1913, 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 lire 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 installed for the 2,000 h. p. the company will be earning at the rate of
the extensions which will be installed and
$130,000 net per annum. With
in operation by May 1 next, the generating capacity of the plant will be increased to 4,690 h. p. As soon as the foregoing installation is completed
the company will Issue another $1,000,000 of bonds for the purpose of increasing its output of power to 12,735 h. p.
Estimated Annual Earnings with Capacity of Plant Increased to 4,690 h. p.
and 12,735 h. p., respectivAV.
4,6908. P. 12,735 ti.P.
4,6908. p. 12,7358.p.
Gross
$440,531 $840,832 Bond interest___$100,000 $150,000
460,416 Balance, surplus 138,616
Net, after taxes_ 233,616
310,416
167
Repairs to equipment and new rails, $220,000; payments of obligations
heretofore contracted, $66,000; purchase of supplies and receivers' expenses, $100,000; balance to be used as directed by the Court. Compare
V. 89, p. 1667.
Eastern Ohio Traction Co., Cleveland.-Sale Feb. 5 1910.The Cleveland & Chagrin Falls division is advertised to be
sold under foreclosure at the company's office in 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 RR.-New Stock.-Of the 5,500 shares of new
stock sold at auction on Jan. 12 at prices ranging from
1273
4 to 1333, 3,755 shares were purchased by a syndicate
including Moors & Cabot, Wm. A Read & Co., Hornblower
& Weeks and Bond & Goodwin, all of whom are offering the
stock at 130 flat, to net 3.85%.-V. 90, p. 109.
Geneva Corning & Southern RR.-Purchase of Additional
Stock.-See New York Central & Hudson River RR. below.
-V. 89, p. 286.
Grand Trunk Ry.-New Officers.-The following appointments 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.
Illinois Southern Ry.-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 Ry.-Guaranty of Bonds.
p.S1e2e23
L.ake Shore & Michigan Southern Ry. below.-V. 89,
Kansas City Southern Ry.-Bond Offering.-Sutro 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:
In 1907 the company earned over five times the total interest on the
$10,000,000 of these bonds now outstanding; over 3
times in 1908, a
year of severe depression, and over four times in the fiscal year ended
Cuba RR.-Second Dividend on Preferred.-A dividend of June
30 1909.
The "margin of safety" for bonds of the Kansas City Southern is greater
13/2% has been declared on the $10,000,000 6% non-cum.
any of the other roads named below:
pref. stock, payable Feb. 1 to holders of record Dec. 31. The than
Reports for 1909.
K.C. So. L. de. N. Ill. Cent. C. de O. if
9% Aug. 2 1909.-V. 89, P.c. of net income consumed
only previous distribution was 13/
by fixed chges. Fe, rentals_41.32
46.34
52.80
60.58' 79.93
p. 664.
"Margin of safety" for bds_58.69
47.20
53.66
39.42
20.07
Delaware RR.-Lease---Stock Dividend of 70% and Cash Comparison of the Returns per Mile-Surplus per Mile after Fixed Charges.
Dividend of 20% Proposed.-The directors on Jan. 10 ordered
Gross. Op.Exp. Net. Fixed Ch. Surp. Fr't (tons).
that meetings of the stockholders be called to decide whether Kansas City Sou___$10,606 $6,469 $4,137 $1,596 $2,541 1,074,660
the road shall be leased for a long term to the Philadelphia Atch. T. & S. Fe_ 9,742 6,274 3,468 1,383 2,085 628,910
&
_ _ 10,340
6,744
3,596
1,718
1,818
968,795
Baltimore & Washington RR. Co:, and whether the stock Loulsv.
Th.; proceeds
Nashvof these bonds were applied in part to the payment
shall be increased so that simultaneously with the making of July 1 1909 of $5,100,000 collateral notes,and the balance is being expended
the reduction of grades, additional terminal facilities, ballasting, new
the lease a stock dividend of 70% may be paid and the In
rail, &c., which the officers state will materially increase the earning
necessary action be taken to pay an additional dividend of power of the road. The company pays 4% per annum on $21,000,000
pref. stock, selling at $71 a share, and has outstanding $30,000,000 common
20% in cash. It will be 30 days or so before the final vote stock,
selling at about $43 a share; the equity in market value behind
of the stockholders can be taken upon this matter. Charles these bonds is over $27,800,000. A traffic agreement with the Southern
Pacific and Union Pacific systems was made in February 1909, forming a
Fearon &
Philadelphia, took the lead in urging the direct
north and south connection between the Union Pacific at Kansas
distributionCo.,
of a part of the company's surplus. Some City and the Southern Pacific at Beaumont, Tex., and Lake
Charles, La.
of the minority stockholders think that they should receive -V. 89, p. 1542.
an 80% stock distribution.
Lake Shore & Michigan Southern Ry.-Other Income InReport.-For year ending Oct. 31:
creased.-See Pitts. & Lake Erie RR.below.
Fiscal
Gross
Net
Application to Issue Bonds.-The company has applied to
Other Interest,
Divs. " Balance,
YearEarnings. Earnings Income. Rents,&c. (8%). Surplus.
1908-09
52,932,253 $670,563 $43,501 $223,232 $238,978 $251854 the Public Service Commission, Second District, for permis1907-08
2,658,576 623,493 42,944 208,215 238,978 219:244 sion to issue the remaining $15,000,000 of the $50,000,000
From the surplus as above there was deducted $200,000 yearly, which authorized amount of the 4% bonds of 1906, to
retire the
was transferred to the extraordinary expenditure fund.-V.88, p. 563.
$15,000,000 5% notes maturing Feb. 1, and also to
Delaware & Hudson Co.-Listed.--The New York Stock $11,000,000 bonds of the Jamestown Franklin & guarantee
Clearfield
Exchange has listed the $7,165,000 "first and refunding" Ry. received in payment 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 (V. 90, p. 54),
Lehigh Valley Transit Co.-Report.-For year ending
making the total amount listed $20,704,000.
Nov. 30:
Earnings.-For the 10 months ending Oct. 31 1909:
Railroad OperationsCoal & Sales Dept.
Operating revenue
$15,928,713 Gross receipts
$10,805,534
Operating expenses
9,629,512 Gross expenses
10,253,501
Less taxes
350,000 Less taxes
265,000
Operating income ____ $5,949,201
Net coal & sales dept
Total operating Income, railroad anc coal departments
Other income, all departments
$286,943
*6,236,144
1,325,449
Fiscal Passenger
Other.
Year. Receipts. Income.
1908-09 .$956,888 $114,573
1907-08 _ 910,574
128,052
-V.88. p. 1437.
Net
Total
Fixed
Income. Earnings. Charges'.
$1,071,461 $523,290 $416,646
1,038,626
477,386
412,086
Balance;
Surplus.
$106,644
65,300
Louisville (Ky.) Ry.-New Bond Issue.-The directors,
it is stated, will on Jan. 19 call a meeting of the shareholders
Total income
$7,561,593 to authorize an'issue of $20,000,000 .consolidated mortgage
Interest and rentals
3,673,587 5% bonds, of which $8,000,000 will be reserved to retire the
Net income
$3,888,006 underlying bonds at maturity and the remainder for im&.
provements and additions. The "Louisville Courier-JourNorthwestern Ry.-Dividend.-This company, nal" says:
Denver
which controls the Denver City Tramway, paid on Jan. 10
It is understood that about $1,000,000 of the new bonds will be sold
a third consecutive quarterly dividend of 2% on its $6,000,- in the next month or so to take up some indebtedness incurred in connection
with the purchase of the Louisville & Eastern and the financing of the
000 stock, or at the rate of 8% a year, the first dividend at Shelbyville
branch.-V.88, p. 686, 823.
that rate having been paid in July last. Prior to that,disLouisville & Nashville RR.-Increase in Other Income.tributions were at the rate of 6% per annum.-V.85,p. 1143.
Detroit Toledo & Ironton Ry.-Over 85% of General 4s See Nashville Chatt. & St. Louis Ry. below.-V.90, p. 110.
Lynchburg (Va.)Traction & Light Co.-Change in Control.
Deposited.-The committee of holders of general lien and
divisional first mortgage 4% gold bonds, Otto T. Bannard, -see American Rys. Co. above.-V. 86, p. 1529.
Chairman, announces that more than 85% of the above
Massachusetts Electric Companies, Boston.-Refunding
bonds has been deposited with it, and in order to give the Notes Offered.-F. S..Mosely & Co., Curtis & Sanger, Hayundeposited bonds an opportunity to participate, the time den, Stone & Co. and Wm. A. Read & Co., all of New
for making deposits has been extended to and including York, &c., are offering at 97%, yielding. 53% income,
Jan. 21 1910, after which date no bonds will be received, $3,700,000 collateral trust 4
coupon notes dated
1
except upon such terms as the committee shall impose. The 1910 and due July 11913, being part of an authorizedJan.
issue
New York Trust Co. is the depositary.
of $5,000,000. The notes are issued chiefly to retire p3,509,Judge R. W. Tayler at Toledo on Jan.11 acquiesced in the 000 4% notes maturing July 1 1910. Par
$1,000. Interest
order of the Federal Court of Michigan granting authority J. & J. Trustee, Old Colony Trust
Co., Boston.
to the receivers to sell $500,000 first lien receivers certificates
The notes are secured by deposit of Stocks of the Boston & Northern
at par, $1,000, less a commission of 2%%. The proceeds and Old Colony Street By. companies equal to 25% more
than the par of
notes, including a majority of the shares of one of the two subsidiary
the
will be used as follows:
companies.-V. 90, p. 54.
THE CHRONICLE
168
[VOL. Lxxxx.
Metropolitan Street Ry., New York.-Semi-Annual State- F. & A. Authorized $1,500,000; outstanding $800,000.
ment.-The receivers on Thursday issued a statement show- Detroit Trust Co., trustee. Par $1,000c*, free from tax
deductions. A circular says:
ing results for the six months ending Dec. 31:
The bonds offered ($300,000) are part of an outstanding issue of $800,000
Gross
Balance,
Net
Other
Interest,
Surrlus. made to meet construction expenses; the Valley Engineering Co., which
Six Mos.
Earnings.
Earnings.
Income. Taxes, &c.
1909
$536,164 completed the construction of the road, owns the remaining $500,000 and
$6,631,623 $2,247,702 $230,546 $1,942,084
1908
6,721,213
2,095,617 def. 897,537 proposes to hold the same for investment. The unissued $700,000 bonds
944,814
253,266
The statement includes the results of operation of the Central Park can be issued only under careful restrictions for extensions and improveNorth & East River RR.from July 1 to Aug. 5 1908 and of the Second Ave. ments,and with the consent of the holders of the majority of the outstanding
RR.from July 1 to Nov. 12 1908. Operating expenses include all expendi- bonds, and also of the mortgage trustee. A first mortgage on all present
tures for rehabilitation of the physical property; also an estimated amount and future acquired property.
The company was incorporated under the laws of Michigan on Aug. 20.
for unsettled claims for injuries and damages. Interest charges as aoove
do not include interest on obligations which have beed d faulted.-V. 90, 1908. It is the successor by purchase of all the property and franchises
formerly owned by the Detroit Flint & Saginaw Ry. Co., and it has conp. 110.
and now operates an interurban trolley system, the main line,
Nashville Chattanooga & St. Louis Ry.-Dividend In- structed
29.63 miles in length, extending from Flint (population 25,000) to Saginaw
creased.-This company, controlled by the Louisville & (pop. over 60,000), the centre of the Mich. coal industry with branch o
miles to the village of Frankenmuth. Connects with the Detroit
Nashville RR., has declared a semi-annual dividend of 3% 5.35
United Ry., Flint division, for Detroit, 68 miles, and with the Saginaw
on the $10,000,000 capital stock, payable Feb. 1 to stock- 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,
holders of record Jan. 21, comparing with 23% paid Aug. 2 and
the line runs through the villages of Bridgeport, Birch Run, Clio and
last. This increases the annual rate from 5% to 6%, as Mt. Morris. All of the franchises owned in the various municipalities
except Flint and Saginaw are in perpetuity. In Saginaw the company has
in 1907-08.-V. 89, p. 718.
a terminal agreement with the Saginaw Valley Traction Co. and in Flint
granted by the City Council. The sinking fund, it is estimated,
New Orleans Mobile & Chicago RR.-Directors.-This franchises
will provide for the retirement of $1,300,000 of the issue; the trustee must
company, successor of the Mobile Jackson & Kansas City invest the fund by purchase of the bonds in the open market at not to exceed 103 and interest, or, failing this, in securities designated as legal for
RR. Co., announces the election of the following:
Michigan savings banks.
Directors.-Chas. K. Beckman, L. S. Berg, Brayton Ives, George R.
Sheldon, Frederic E. Fried and R. W. K. Anderson of New York; John Earns. 8 Mos.end. Oct. 31 '09-Gross $115,153; Op. ex. $51,945; Net $63,209.
June.
July.
McLeod, Philadelphia, Pa.; Richard B. Scandrett, Pittsburgh, Pa.; Wm.C. 1909. Mar. April. May.
Aug.
Sept.
Oct.
Sproul, Chester, Pa.; S. Wexler, New Orleans, La., and Alex. McDonald. Gross $8,812 $9,135 $12,115 $12,829 $16,698 $18,916 $18,229 $18,418
6,370
7,209 10,192 10,666 10,421
Net__ 4,070
4,320
Cincinnati, Ohio.
9,961
The earnings for the year ending March 1 1910 are calculated as not less
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 than $170,000, with net earnings of $85,000 and a surplus of $45,000 over
the
first
and
above
the
interest
on
mortgage
bonds now outstanding.
H. C. Snyder, Asst. Sec. and Treas. Executive offices, 49 Wall St.,
-V. 87, p. 678.
New York.-V.89, p. 1668, 1542.
New Mexico Central RR.-Receivership.-A press report
states that at Santa Fe on Jan. 10 the company's Treasurer,
C. C. Murphy of Pittsburgh, was appointed receiver by
Judge McFie. Compare V. 89, p. 1069.
New York Central & Hudson River RR.-Debentures
Authorized.-The Public Service Commission, Second District, on Jan. 13 authorized the company to issue $5,000,000
4% debenture bonds of 1934 in payment for $5,000,000 first
preferred stock of the Geneva Corning & Southern RR.
V. 90, p. 54.
Philadelphia Co. of Pittsburgh.-Listed.-The New York
Stock Exchange has authorized to be listed the $2,760,000
additional common stock recently offered to the stockholders
and convertible debenture holders at par (V. 89, p. 1545),
on notice of payment in full, making the total amount to be
listed $36,000,000.
The proceeds of the stock are to be used to pay $2,350,000 of 10-year
serial 6% gold notes dated July 1 1908, all of which will become due or be
called for redemption on June 1 1910. and $150,000 serial 5% gold notes
dated April 1 1905 and maturing April 1 1910 and for extensions and Improvements and other purposes.-V.89, p. 1545.
EPittsburgh & Lake Erie RR.-Extra Dividend.-This company, controlled by the Lake Shore & Michigan Southern by
ownership of $7,500,150 of the $14,999,850 stock, has declared 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.
Per cent
Dividend Record.
'86 to '91. '92 to'06. 1907. 1908.
12
11
6 yearly 10 yearly
1909.
10
Feb. 1 1910.
23i ec 20 ext.
St. Louis Brownsville & Mexico Ry.-New $25,000,000
Mortgage-Reduction of Stock to $500,000.-This company,
all or substantially all of whose capital stock was taken over
last week by the St. Louis & San Francisco RR., has called
a shareholders' meeting for Mar. 10 to vote on authorizing:
(1) A new mortgage on all its property and franchises to secure not
exceeding $25,000,000 bonds, to provide "for constructing completing,
improving and operating the railway of said company, and'
to secure the
payment of debts contracted for such purposes."
(2) The cancellation of outstanding stock to such extent as will make
the total outstanding stockinot to exceed $500,000 and to take the requisite
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.
St. Louis & San Francisco RR.-Removal of Office.-The
company's office in this city has been moved from 115
Broadway to the Empire Building, 71 Broadway (10th
floor).
New Mortgage on Controlled Property.-See St. Louis
Brownsville & Mexico Ry. above.-V. 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, acquired at
a total cost of $1,564,209 and deliverable early in 1910.
Fifteen 10-wheel passenger locomotives; 5 switching locomotives; 1,000
ventilated box cars of 60,000.1bs. capacity; 25 stock cars; 15 express, baggage and passenger cars; one-self-propelling pile-driver; two 60-ton steam
wrecking cranes and one Lidgerwood unloader.--V. 90, p. 111.1
New Stock.-Stockholders of record Jan. 26 will be permitted 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 & Light Securities Co., Boston.-Initial Dividend
of 2% on Common.-This holding company, organized by
Stone & Webster, has declared an initial dividend of 2%
on its $600,000 of common stock, payable Feb. 1 to stockholders of record Jan. 15.-V. 89, p. 345.
Roanoke (Va.) Traction & Light 0o.-Sale.-See American Rys. Co. above.-V.88, p. 376.
Rock Island Co.-New President, &c.-The following announcement was made on Thursday of changes of officers
of the company and of the Chicago Rock Island & Pacific Ry.:
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 majority and guarding against any future contingencies which
may arise.-V. 89, p. 1598.
Southern Ry.-New:General Manager.-E. H. Chapman,
Manager, has been promoted to the position of General
Manager, with headquarters in Washington, D. C., effective
Jan. 15 1910.
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 Pacific Ry. As Chairman of the latter company he succeeds D. G.
Reid, resigned. The office of Vice-Chairman of the executive committee
of the Chicago Rock Island & Pacific Railway Co. has been abolished.
Mr. Reid remains
Ths office was formerly held by Richard A. Jackson.
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.
Texas & 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. Wallace,
Adrian Iselin, Edmund D. Randolph, Mortimer L. Schiff,
James Timpson and Harry Bronner (Franklin L. Babcock,
Secretary, 54 Wall St., N. Y.), has adopted a plan of reorganization dated Dec. 2 1909. The plan will become binding upon all the depositing bondholders unless within 30 days.
after 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.
See also item under "Banks, Bankers and Trust Companies" on another page.
New Interests.-F. S. Pearson, who with his associates
controls the Rio de Janeiro Tramway, Light Zfr 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 harmony with the Moore interests, which virtually control that
company.-V. 89, p. 1484.
Saginaw & Flint Electric Ry.-Offering.--Brown Bros. &
Co., New York, and George M. West & Co., Detroit, are
offering at 943 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
Mr. Chapman succeeds Charles H. Ackert, who resigned last week In,
order to go to Chicago as Vice-President in,charge of maintenance and operation on four of the Hawley-Yoakum roads, namely the Chicago & Alton.
the Toledo St. Louis &ffestern, the Iowa Central and the Minneapolis &
St. Louis.-V. 89, p. 1598, 1543.
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. Manhattanville & St. Nicholas Ave. Ry. Co.,
Dry Dock East Broadway & Battery RR. Co., Kingsbridge By. Co., Union.
By, Co.. Southern Boulevard Co., Bronx Traction Co., Westchester Electric 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
price which it is expected will realize a considerable surplus applicable on
the securities of that corporation held by the trustee. Proceedings are
pending for the sale of the other properties whose securities are covered
by such mortgage.
The Metropolitan St. By. 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 1910.]
169
THE CHRONICLE
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. By. receivers from the 3d Ave. RR. Co. between Sept. 24 1907 and the appointment of our receiver, Jan. 12 1908,
which may result in a recovery of uiawards of $300,000. Another claim
for $100,000 paid for damages by the Third Avenue Bridge has been decided
in our favor in the Appellate Division, but no account is taken of these two
claims in the following calculations.
A large amount of money has been expended upon the properties, a new
sub-station has been built, new cars have been purchased, three new franchises have been obtained for extensions and one for the Queens Borough
Bridge is now being negotiated. The gross net earnings have increased
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
normal.
The statement of earnings for the year ending Sept. 30 (see "Annual
Reports" on a preceding page) excludes from consideration the franchise
tax, but it does include certain extraordinary expenses in the cost of operation. The committee is advised by the receiver that the results shown
may be accepted as a fair basis for calculating the net earnings of the entire
system, excluding the Westchester companies. 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 (Stock Additional,
$16,000,000).
$950,000
Third Ave. RR. 1st M. 53_55,000,000 Dry Dock gen. 5s
First consol 45
40,381,173
5% certificates of indebt 1,100,000
250,000
Unpaid int. to Jan.1 '10 1,507,564 So. Bout. RR. 1st 5s
Union Ry. Co. 1st 5s_ _ __ 2,000,000 Westchester El. RR. 1st 55 500,000
1,000,000
42d St. 1st 6s, due 1910_ _ 1,200,000 Yonkers RR. 1st 5s
•140,000
2d mortgage incomes_
• $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.
Other CompaniesThird Avenue$150,000
Receiver's ctfs. & indebt_$2,500,000 Union Ry
450,000
1,500,000 Yonkers By
Franchise taxes
260,000
Renewal of tracks
1,000,000 Westchester
75,000
Southern Boulevard
Fees of receiver, counsel,
75,000
dec.,cialms purch.,wk.cap. 1,190,000 Bronx Traction
Securities of Proposed New Company.
First refunding mtge. 50-year 4% gold bonds dated Jan. 11910, 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
$9,390,000
payment of unpaid interest
6,400,000
To stockholders on payment of $45 per share
Reserved for underlying bonds and for future extensions and improvements under proper restrictions and subject to approval of Public
$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 consecutive 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
$22,536,000
To holders of present consol 4s, being 60% of principal
Capital stock, total authorized issue, $16,590,000, viz.:
$9,390,000
To holders of present consol 4s, being 25% of principal
7,200,000
To present stockholders on payment of $45 per share
Securities.
Exchange
of
Old
for
New
Basis of
-Will be Exchanged forAdj. M.
Each $1,000 Par Value of Deposited
1st Ref.
Bonds and Stocks, viz.:
M.4s. Income 5s. Stock.
$250
$600
Consolidated mtge. 4% gold bonds
_$250
250
600
Consol. mtge. 4% gold bonds,"stamped ctfs."_ 230
450
Com.stock on payment of 5450 per $1,000 par v. 400
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, however, $15 in any one calendar month), shall be entitled to receive when the
reorganization is completed $45 in the new stock and $40 in the aforesaid
refunding bonds. C Anpare V. 90, p. 54.
Toledo & Ohio Central Ry.-Car Trust Certificates Offered.
-William Salomon & Co., New York and Chicago, and G. H.
4%
Walker & Co. of St. Louis are offering at prices to yield 43
car trust 4% gold certificates, series B, authorized issue
11,200,000, par $1,000c*, 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 circular says:
These certificates will be issued for the purchase of 1,000 steel underframe, drop-bottom coal cars now being built by the Ralston Steel Car Co.
.and 500 box cars under construction by the Pullman Company. The railway 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
title thereto shall be vested in the Provident Life & Trust Co. of Philadelphia, as trustee, until all these certificates shall have been paid. In addition, an unconditional guaranty of principal and interest by the Toledo dc
.Ohio Central Ry.Co. will be endorsed on each certificate.-V.89, p.913, 471.
Union Pacific RR.-New Directors.-Jacob H. Schiff
having resigned 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, respectively.
Wheeling & Lake Erie RR.-Reorganization Plan-Consolidation.-The plan of reorganization of the company and
the 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 expected to be announced in about a week. Subject to possible modifications, principally as to details, the published
statements are pronounced to be substantially correct.
The new company 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 &
Lake Erie properties, the existing Wheeling & Lake Erie bond issues remaining 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 & 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 58,000,000 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.
Wisconsin & Michigan Ry.-Securities Transferred to
Chicago Banks.-See items on "Banks, Bankers and Trust
Co's" in last week's issue, page 83.-V. 81, p. 842.
York Railways.-New Officers.-Gordon Campbell, VicePresident and General 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 directors and a member of the executive committee.-V.89, p.412.
INDUSTRIAL, GAS AND MISCELLANEOUS.
Amalgamated Asbestos Corporation, Ltd., Montreal.Earnings, &c.-This important consolidation of Canadian
asbestos properties, in which Cramp, Mitchell & Shober of
Philadelphia are largely interested, reports:
Statement for Five Months Ended Oct. 311909.
Gross earnings
$655,073 Other Income
$35,291
$255,040
Net profits
$219,749 Sur. app. to bond int
Interest on outstanding bonds for five months to Nov. 1 1909_ _ _ _$156,250
$98,790
Surplus for stock
$3,426,515
Unfilled orders on hand Oct. 31 1909 for future delivery
General Balance Sheet Oct. 31 1909.
Assets ($17,859,232).
Liabilities (517,859,232).
I,
$16,882,899 I Common stock outst'g_ _$8,125,000
Property account
Inventories (asbestos at
'Pref. % cum. stock out.. 1,875,000
contract sales prices) _ _
460,654 I 1st M. 30-yr. 5% bonds,
7,500,000
Other working and tradI due June 1 1939
ing assets
143,0531Accr'd liabilities, IncludCash
217,556
ing bond interest
163,088
Acc'ts & bills receivable_
118,343 Current liabilities
85,236
Reserve for depreciation_ _
Future production and
12,118
36,727 Profit and loss surplus_ _ _ _
98,790
income
Officers.-President, E. B. Greenshields, and Vice-President, Hon. Robt;
Mackay, Montreal; Vice-President, Howard E. Mitchell, Philadelphia,
Secretary and Treasurer, R. P. Doucet, 263 St. James St.. Montreal; General 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. Greenshields, Montreal; Robt. T. Hopper,
Montreal; H. Malcolm Hubbard, London, Eng.; Hon. Robt. Mackay,
Montreal; Howard Ellery Mitchell, Philadelphia; R. H. Martin, New York;
H. H. Melville, Boston; Richard V. Mattison, Ambler, Pa.; Thos. McDougall, Quebec; William McMaster, Montreal.-V. 88, p. 637; V. 89, p. 1225,
1282, 1349.
American Cement Co.-Report.-For years ending Nov. 30:
Net of Int., &c., ml.,&c., Dividends
Fiscal
Yearoper. cos.Am.Cern.Co. Sub.Cos.
Paid.
1908-09
$165,227 $64,240 $71,811 (4%) $81,000
1007-08 _ ...._ 268,186
65.575
73,324 (6%) 120,000
481,810
1906-07
67,975
82,796 (7%) 140,000
1905-06
420,183
84,471
48,053 (7%) 140,000
-V. 89, p. 1669.
American Pipe Manufacturing Co.-Called Bonds.-Fortyfive 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 102 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 Co.-Earnings.-For eight
months ending Nov. 30:
Otto H. Kahn, Mortimer L. Schiff and William G. Rockefeller were
-elected directors and members of the executive committee of the Oregon
Short Line. Messrs. Kahn, Schiff and Rockefeller, with R. L. Gerry, were
also elected directors of the Oregon RR. & Navigation Co. Otto II. Kahn, Net profits
Mortimer L. Schiff, Henry C. Frick, William Rockefeller and William G. Interest and charges
Rockefeller were also elected as members of the executive committee of Balance, surplus
the last-named company, the number of which was increased from live to -V. 89, p. 1412.
•seven, the other two members being President Robert S. Lovett and
American Power
William Mahl.-V. 89, p. 1349.
United Railways Investment Co.-Bonds Listed on New
York Stock Exchange.-The first lien collateral trust sinking
fund 5% bonds, Pittsburgh issue, due 1926, were listed this
week on the New York Stock Evchange. The official statement made to the Stock Exchange in connection with the
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.
Wabash-Pittsburgh Terminal Ry.-Reornization Plan.eonsolidation.-See Wheeling & Lake Erie RR. below.
-V• 88, p. 750.
_
Balance,
surplus.
def. $51,824
sur. $9,286
sur. 191,039
sur. 147,659
1909.
$327,266
159,808
167,458
1908.
$203,220
140,727
62,493
Increase.
$124,046
19,081
104,965
& 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 latter'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
(December Partly Estimated).
'41
$1,606,094!Fixed chrages
Gross earnings
$211,769
$377,286
$589,055 Balance, surplus
Net (after taxes)
This statement includes Portland Ore.) Gas & Coke Co., Edison Light
Wichita.
Kan..
Home
Light,
Heat
&
P. Co.,
de P. Co. and United Gas Co. of
Pittsburgh. Kan., and Astoria (Ore.) Electric Co.-V.89. p. 1484. _.„
-
170
THE CHRONICLE
American Sugar Refining Co.-New Directors.-At the
annual meeting on Wednesday, Samuel Carr and Edwin F.
Atkins of Boston were added to the board "in view of the
preponderating holdings of stock by New England shareholders," increasing the board from 9 to 11 members; and
E. S. Marston, President of the Farmers' Loan & Trust Co.
of New York, and Samuel C. Hooker of Philadelphia were
elected directors to succeed Charles H. Senff and John Mayer,
who resigned.
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 preceding page.-V. 89, p. 1670.
Canadian Car & Foundry Co., Ltd., Montreal.-Initial
Dividend on Preferred.-The company has declared an initial
4% on its $5,000,000 of preferred stock, payadividend of 13
ble Jan. 15 to stockholders of record Dec. 31. See V. 89,
p. 1283.
Conrad Land & Water Co., 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:
[VOL. LXXXX.
Earnings of Indiana & Michigan Electric Co.,9Years ending Jan. 31 (3 Mos.
1909-10 Estimated).
1909-10. 1908-09. 1907-08. 1906-07. 1905-06. 1904-05.
Gross earnings__$575,000 $401,776 $418,901 $334,871 $260,729 $188,514
Net (after operating exp.)___ 402,000 324,316 276,275
Not reported
Interest charge on $3,554,000 first mortgage 5s, $177,700; on $900,000
second mortgage 6s, $54,000. Stock is $1,915,000. No dividend yet
The second mortgage 6s, were issued, cover part cost of
declared.
the hydro-electric development at Berrien Springs, Mich., completed in
Nov. 1908, nearly doubling the company's output capacity. Compare
V. 80, p. 1000; V. 89, p. 473.
Inter-Continental Rubber Co.-Dividend on Preferred.This company, incorporated in Dec. 1906, paid on Jan. 10
a dividend of 7% on its $4,200,000 7% cumulative pref.stock.
This is tile first dividend since Oct. 1908, when 314 % was paid, and It
leaves about 103 % cumulative dividends unpaid.-V. 89, p. 1225.
International Harvester Co., Chicago.-Dividends to 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 in
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 preferred and $60,000,000 of common stock. The directors
recommended to the stockholders an increase of $20,000,000
in common stock, represented by surplus invested in the
business during the past seven years, the same to be distributed 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% dividend on the $80,000,000 of common stock, payable 1% each
quarter, beginning with April 15 1910.
Bonds dated Dec. 17 1909. Principal and interest (J. & J.) payable at
Amer. 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 1924. Bonds maturing Jan. 1 1918 and thereafter are callable at 105
and interest on or after Jan. 1 1911.
The 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 Fails. Of the 172,000 acres of land irrigable from the canals and
laterals, there is, after deducting townsitcs, &c., a full 160,000 acres of
choice land specially adapted to general farming and dairying. The topoFormal action on this dividend matter will be taken at the board's regular
graphy is ideal for both irrigation and drainage.
meeting for dividend purposes on Jan. 29, at which time notice as to closing
These bonds are a first mortgage lien on the company's property, con- of books for dividend purposes will be given. The company has not been
sisting of water rights entitling it to first storage appropriations from paying dividends on Its common stock. The company's detailed annual
Birch and Dupuyer creeks (rising in the Rocky Mountains, 40 miles report for the year 1909 will be issued in a few weeks.-V.90, p. 112.
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,
• Keystone Telephone Co. of Philadelphia.-Semi-Annual
storage capacity 170,000 acre feet, and Laughlin andlDry Fork reservoirs
(not yet completed), combined storage capacity test.) 70,000 acre feet. Statemeiit.-The company has issued a supplement to the
The combined storage capacity of over 1035 billion cubic feet of water will annual report covering the 6 months' period to Dec. 31 1909.
be worth at least $4,200,000. Under the rarey Act,the property owners
Balance,
Gross
Interest
Oper. Exp.
Six
Net
along the canal acquire ownership of the irrigation system through the purSurplus.
Months- Earnings.
& Taxes.
Earnings. & Renewals.
chase of stock at $40 per share (price being fixed by the State), $3 payable
*93,019
$183,949
$551,052
$274,084
$276,968
in cash and the balance in 14 equal annual installments. The deferred 1909
59,481
206,978
528,237
261,778
266,459
payments, drawing 6% interest, secured by first mortgage liens on the 1908
The supplemental report states that the company's traffic has increased
lands, together with the stock certificates, are deposited with the trustee as
additional security to the bondholder. The trust deed limits the bonded some 25% over the same period of 1908, while the surplus earnings over all
debt to $25 an acre, and there are $37 of Carey Act contract liens, or 1st charges show an increase of over 55%. Expenditures for additional undermortgages, deposited fqr each $25 of bonds outstanding, while the farm ground cables, lines and equipment in the calendar year amounted to apland, when irrigated, is conservatively estimated as worth from $75 to proximately $200,000.-V. 89, p. 998.
$100 per acre.
The cost of construction, as estimated by the State Engineer, was $3,Lackawanna Steel Co.-Semi-Annual Statement.-The
000,000. The capital stock, $250,000, is all owned by Messrs. Withee Fc
Cargill of La Crosse, Wis., who have thus far expended $1,500,000 in tile combined earnings of the company and subsidiaries for the
development of the system. This issue is to complete the reservoirs, six months ending Dec. 31 1909 were:
canals and laterals; 75% of the construction necessray to irrigate 70,000
1909.
1908.
1908. ;
1909.
acres, covering the first land opening, is now completed, and this acreage
$
Six MonthsSix Monthswill be irrigated for season of 1910. There are two lively towns in this dis- Income from mfg.
Mines exhaustion
trict. Conrad, on the Great Northern By., and Valler, on the Montana
74,779
147,271
funds
and operating,
Western By.
Deprec'n & acafter deducting
cruing renewals 663,439 456,093
all expenses,
Eastern Steel Co., Pottsville, Pa.-Bonds Offered-Status.
ordin'y repairs
-Gilman & Clucas, investment securities, 34 Pine St., New
Tot. deduct'n_1,189,392 859,488
& malnt., and
York, and First National Bank Bldg., New Haven, Conn.,
int. on bonds
Net earnings_2,082.487 469,223
&
fixed
charges
are offering for sale first mortgage 5% gold bonds dated 1906
of subsid. cos_3,110,959 1,283,249 Deduct int. for
and due Aug. 1 1931, but redeemable by lot at 110 and int. Propor. of earns.
6 mos. on L.
on investments
S. Co. bonds
after Aug. 1 1916 upon six months' notice. Authorized,
750,000
In cos. not conand notes____ 813,750
$3,000,000; outstanding, $2,000,000. Par $1,000 (c*).
trolled and of
0th. ann. Inc_ 160,920
45,462
Surplus or defiKnickerbocker Trust Co., trustee. Int. F. & A. Sinking
sur.1,268,737def280,776
cit
fund not less than $60,000 per annum, commencing Aug. 1
Total
3,271,879 1,328,711 Unfilled orders
at close of perDeduct-1909. A circular says in brief:
205,236
467,533
iods
Sink.fds. on bds.
The company's coal (anthracite) comes from a distance of only 2 miles,
378,682 328,615
of sub. cos
and its scrap iron from the neighboring railroad plants and collieries. 'rue
-V. 88, p. 1200.
plant manufactures steel for all structural purposes and bridge work and
is one of the most up-to-date in Pennsylvania. It consists of 50 acres of
Lake Superior Corporation.-Earnings.-The "Philadelreal estate__ 3 soaking pits, 3 structural mills,4 50-ton basic furnaces and
a bridge shop with a capacity of 7,500 tons, 5 locomotives, 8 freight cars, phia News Bureau" of Jan. 12 reports earnings of subsidiary
24 electric cranes, &c. Annual capacity, 125,000 tons blooms and billets
companies for the five months ending Nov. 30 as gross,
and 190,000 tons finished rolled material.
The company was formed in 1852 and In 1902 was acquired by its present $3,938,200, an increase of $1,064,000 over the same period
owners. Preferred stock authorized, $4,700,000; outstanding, $2,200,000;
common stock authorized, $4,700,000; outstanding, $3,650,000. The in 1908; net, $729,400 (an increase of $316,000), available
property is carried on the books at $8,000,000 cash. The quick assets amount for interest on the $10,000,000 Lake Superior 5% first mortto $3,000,000. The company has recently acquired iron ore interests in gage bonds and depreciation and'renewals.-V. 89, p. 1671.
the Moa district of Cuba amounting to 11,000 acres, and in addition leases
1,200 acres, trgether estimated at over 43,000,000 tons of iron ore.
National Enameling & Stamping Co.-Listed.-TheiNew
The earnings for the past four years have averaged 2 54 times the interest
on the bonds, and it Is estimated that for the calendar year 1909 the net York Stock Exchange has listed the $3,500,000 refunding
earnings, after payment of all fixed charges, will amount to over $400.000.
Directors-August Hecksher, T. I. Crane, J. A. Burden Jr., W. H. Shel- first mortgage real estate sinking fund 20-year 5% bonds of
merdine, C W. Wetmore, Veryl Preston, W. S. Pilling, R. E. Jennings, 1909 offered by Lehman Bros. and Goldman, Sachs & Co.
E. L. Baylies, H. P. Brown, A. H. Beale, W. B.O.Field, J. H. Hammond, in
June last (V. 88, p. 1502).
H. B. Livingston, W. D. Sloane, A. Turnbull and H. P. Whitney.
The proceeds of the bonds have been used as follows: $775,000 par value
Additions.-The "Iron Age" on Jan. 6 said:
municipal bonds of City of New York have been purchased at a cost of apThe Eastern Steel Co. is building two additional open-hearth furnaces of proximately $780,000, of which $525,000 has been deposited with the Cen80 tons' capacity each and Is equipping its plant to roll 24-in. beams. The tral Trust Co. of New York to secure the payment of the remaining $500,000
improvements now under way will cost about $300,000. The ingot ca- first mortgage 5% bonds maturing Sept. 1 1910 and 1011. Time floating
pacity will be increased to about 24,000 tons a month on the completion of debt has been reduced by about $2,250,000, and the balance has been used
for additional working capital and for increasing the liquid assets of the
the new works early in 1910.-V. 88, p. 1004.
Electric Bond & Share CO.-Acquisition.-See American company.
Power & Light Co. above.-V.89, p. 922.
Hudson County (N. J.) Water Co.-Decision.-Vice-Chancellor 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
water from driven wells to Staten Island. Compare V. 87,
p. 1481.
Indiana & Michigan Electric Co., Elkhart, South Bend,
&c., Indiana.-Bonds Offered.-Earnings.-H. L. Crawford
& 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 company has five water-power developments with an aggregate
capacity of 20,000 h. p., relayed by steam power of 4,100 h.p.
Earnings.-For the 5 months ending Nov. 30 1909:
Net profits, after charging
Interest on bonded debt__ $99,164
off op. exp. & bad debts_ _$498,122 Div. on pref. stock at7%-- 249,275
149,681
Balance, surplus
-V.89, p. 467.
NationaliSugar Refining Co.-New Directors.-Nathaniel
Tooker, J. H. Dick and Thomas A. Howell have been elected
directors, succeeding Arthur Donner, Geo. II. Frasier and
John Mayer.-V. 82, p. 104
Nevada Consolidated Copper Co.-Protest.-President
James Phillips Jr. has issued a circular to shareholders protesting against the proposed absorption of the company by
the Utah Copper Co. on a basis of 2Yi shares of Nevada Consolidated for one share of Utah. (See Utah Copper Co.
V. 89, p.11674.)-V.89,1p. 1070.
THE CHRONICLE
JAN. 15 1910.
Niagara Lockport & Ontario Power Co.-Earnings.-For
November and 5 months ending Nov. 30:
Period
Sale of Cost of
Covered. • Power. Power.
November$86,151 $44,222
5 months_409,501 201,333
-V. 89, p. 1415.
Gross
Net
Income. Earns.
$41,929 $25,431
208,168 127,594
Other Int. on 1st Bal.,
Sur.
Inc Mtg. Bds.
$1,696 $20,833 $6,294
8,072 104,167 31,499
Northwestern Yeast 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. The extra dividend in 1909 was also 12%,
but in 1908 only 8% and in 1907 5%.
New Officers.-Grant Ridgway has been elected Treasurer
and Thomas R. Hair Secretary, both to succeed C. B. Hill.
-V. 88, p. 162.
Ontario Power Co. of Niagara Falls.-Earnings.-For
November and 5 months ending Nov. 30 (including the Ontario Transmission Co.):
Sale of
Period
Covered. Power.
November$59,615
5 months_275,030
-V. 89, p. 1284.
Net
Other
Interest Balance,
Gross
Gov't
Rental. Income. Earns. Income. on Bds. Sun).
5435 $27,297 $18,684
$4,244 $55,371 $45,546
68,221
2,672 135,990
20,392 254,638 201,539
171
The net income for December 1909 is stated as $160,961. Accounts
payable Dec. 31 1909, $928,923, against bills and accounts payable, $1.755,827, in 1908; total surplus as per balance sheet, $4,786,948 (after transferring to profit and loss account the surplus of the Century Investing Co.,
$157,053, and the surplus of Century Realty Co., $506,534), against $3,451,850.-V. 89, p. 1416.
Waltham Watch Co.-New Stock.-Boston advices stated
that the company proposes 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 the entire
authorized capital $5,000,000 6% cumulative preferred and
$7,000,000 common outstanding.-V.88, p. 948.
Warren Bros. Co., Bithulithic Pavements, Boston.Dividends.-The directors on or about Dec. 20 declared on
the 6% 1st pref. stock a regular quarterly dividend of 13/
9%
and, in lieu of accumulated dividends, an extra 10% dividend, payable either in cash or 1st pref., making the entirc
$1,500,000 .of 1st pref. outstanding.
There is also outstanding $100,000 7% cum. 2d pref. and $2,000,000
common; par of all shares $50. The new stock was issuable Dec. 24 to
subscribing shareholders of record Dec.18,and it participated in the regular
dividend paid Jan. 1. For the current fiscal year the company will probably show net earnings of about 5400,000.-V. 85, p. 528.
Pacific Coast CO.-Dividend Increased.-The company has
Waterloo (Iowa) Water Works-Co.-Sale.-See Waterloo,
declared quarterly dividends of 13/
9% each on the $4,000,000 Iowa,
in "State and City" Department.
second preferred stock and the $7,000,000 common stock,
payable Feb. 1 to stockholders of record Jan. 21, increasing
the annual rate for both issues from 5% to 6%.
-The January 1910 issue of the "Hand-Book of Securities,"
Dividend Record (1905-1910)
1908.
1009. Feb. 1910. compiled by the publishers of the "Commercial & Finan mai
1907.
1905.
1906.
1
% 54
6
434
6
434
Common
Chronicle,' will be ready Monday. The book contains in
5
5
14
5
5
% 5
1st preferred
a small compass very full information concerning the various
6
4
6
434
2d preferred
% 534
-V. 89, p. 1088.
railroads and the leading industrials whose securities are
Sacramento Valley Irrigation Co., California.-Guaranteed dealt in on the New York, Boston, Philadelphia, Baltimore,
Bonds Offered.-J. S. & W. S. Kuhn Inc., Pittsburgh, New Chicago and Pittsburgh exchanges. It shows their earnings,
York, Chicago and Philadelphia; A. G. Edwards & Sons, dividends, &c., for a series of years, present fixed charges,
St. Louis and New York, and Alfred Mestre & Co., New York and the amount of the different issues of bonds outstanding;
and Philadelphia, are offering at par and interest, by adver- their rates of interest, &c. There is also given the monthly
tisement on another page, the unsold portion of a block range of stocks and bonds to Jan. 1 1910, together with a
of $2,000,000 of the first mortgage 6% gold bonds uncondi- yearly range for four years.
tionally guaranteed, both principal and interest, by the
-Albert Frank & Co., he advertising agents, are moving
American Water Works & Guaranty Co., of Pittsburgh, Pa., to-day from 25 Broad gt. 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 11909, due serially, beginning Dec. 11910. 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 says in part:
known as "The New York News Bureau" enable them to
The company, by ownership and through option, controls over 100,000
acres of richest agricultural and fruit land, and Is supplying water to land- occupy a unique position in the control of publicity of a
owners through the 60 miles of main canal already completed.- It is rapidly desirable nature to advertisers.
extending its Irrigation system, which will ultimately supply 250,000 acres,
for which Its water rights are more than sufficient.
-Swartwout & Appenzellar members New York Stock
The authorized bond issue is 515,000,000, of which hot over $10,000,000
'a new edition of their Concan be outstanding at one time. The $2,000,000 now offered matures Exchange, have just published
serially on Dec. 1 from 1910 to 1920, ylz.: $100,000 in 1910; $150,000 in vertible Bond Wall Card, in design uniform with previous
1911; $150,000 in 1912; $100,000 in 1913; $120,000 in 1914; 5230,000 in
1915; 5240,000 in 1916; $240,000 In 1917; 5170,000 In 1918; $100,000 in publications, for banks and investors, with quotations as
1919 and $100,000 in 1920. The bonds are secured by a first lien against of December 1909. This Convertible Bond Card contains
the canal system, the valuable water rights acquired from the United States,
tables
and from the State of California, and purchase money mortgages deposited all listed and unlisted issues of convertible bonds, with
with the trustee at a ratio of 125% of mortgages for 100% of bonds issued. showing conversion prices and privileges, rates, method of
No bonds can be issued until purchase-money mortgages are so deposited computing, &c., and is sent to banks and investors on request.
with the trustee.
Subsequent bonds may be issued on the above conservative basis in such
-A.B. Turner Company, bankers, New York and Boston,
maturities up to Dec. 1 1930 as the directors may determine.
The minimum price at which this company 13 selling its land is $125 per have compiled a very complete and interesting January cirwith
perpetual
rights;
acre,
water
Initial payment 515, the balance in ten
annual deferred payments, secured by 6% purchase-money mortgages cular, giving details on about fifty manufacturing, lighting
having first liens upon the several divisions of land and the water rights and electric railway companies. A compilation of the rededicated thereto. No mortgage can be accepted as security at a rate of
more than $110 an acre, thus permitting a maximum bonded debt of only sources of New York City and Boston national banks and
$88 per acre. The market price of developed irrigated land in California trust companies as of Nov. 16 1909, showing changes from
ranges from $300 to $2,500 an acre.
last published statement, is also given. The circular will
The company is engaged in the development by irrigation of rich agricultural and fruit land in Glenn and Colusa counties, Cal., In the famous be mailed upon request.
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 banking house of Wm. A. Read & Co. 25 Nassau
the temperate and sub-tropical zones may be grown to the greatest ad- St., New
York, is offering to investors on another page
vantage-oranges, figs, peaches, lemons, apricots and prunes in great
quantities, six crops of alfalfa annually. Excellent transportation facili- two very choice issues of bonds namely $100,000 Chicago
ties, both of rail and water. The centre of the tract is only 150 miles from
San Francisco and 87 miles from Sacramento. Water is lifted from one to & Eastern Illinois RR. Co. refunding and improvement gold
73,5 feet from the river by an electric pump and delivered direct to the main- 4s due July 1 1955 and $100,000 Queens Borough Gas &
line canal. No dams are necessary. (For incorporation see V. 90, P. 56.] Electric Co. 5s due July 1 1952. These bonds will net the
Sears-Roebuck Co.-Dividend Increased.-A quarterly div- buyer 43
4% and 5% respectively. Full details will be given
4% has been declared onithe $30,000,000 common upon application.
idend of 13
,
stock, payable Feb. 15 to holders of record Feb. 1, comparing
-Rudolph Schalk, Arthur Barnwell Jr., member of the
with 13/2% paid in November last and 1% in each of the
New York Stock Exchange, Walter Kutzleb and Alexander
three preceding quarters of 1909.-V. 89, p. 1286.
Cameron Jr. have organized the firm of Schalk, Barnwell
United Cigar Manufacturers Co.-Dividend Increased.- &
Co. at 60 Broadway. The new firm succeeds to the busiThe directors have declared a quarterly dividend of 1%% ness of Schalk & Raymond,from which Harold N. Raymond
common
stock,
on the $15,000,000 of
payable Feb. 1 to has withdrawn.
stockholders of record Jan. 27. This increases the regular
-Lewis B. Williams, who has been associated with the
annual rate to 6%, contrasting with 4% in 1909 and an exbond firm of Hayden, Miller & Co. of Cleveland since its
tra 1% last November. Compare V. 88, p. 105.
New Dtrectors-Volinq Trust.-James Schiffer, Maurice Wertheim and organization, was admitted to partnership therein on Jan. 1.
G. L. Storm have been elected directors to succeed Chas. Hirschhorn, E. A. Warren S. Hayden and Otto Miller are the other members
Kerbs and M. H. Mack, who have disposed of their holdings and resigned
as directors. President Jacob Wertheim has, it is stated, obtained control of the firm.
or virtual control of the company, and a very large portion but not a ma-Investors interested in a choice selection of municipal,
jority of the stock has been placed in a 5-years' voting trust.-V.89, p. 925,
United Dry Goods Companies.-Listed.-The New York county, natural resource and corporation bonds, paying
Stock Exchange has listed $500,000 additional 7% cumu- above the average rates and covering a wide field, will find
lative preferred stock, which has been subscribed for by em- in the latest investment circular from the office of D. Arthur
ployees at par and paid for in full, with authority to add from Bowman, Third National Bank Building, St. Louis, Mo., a
time to time prior to July 1 1910 $500,000 additional pre- number of valuable and helpful suggestions. The firm has
ferred stock as subscribed and paid for by employees, making recently been enlarging its offices, owing to the exigencies of
the total amount authorized to be listed $11,000,000.- its growing business.
V. 89, p. 1144.
-Sydney A. Lawton has been admitted to membership
United States Realty & Improvement Co.-Earnings.- in the New York Stock Exchange firm of Wrenn Brothers
For 8 months ending Dec. 31:
& Co., 24 Broad Street.
1909.
1008,
Increase.
Net income
$1,077,749
-The Chicago bond firm of Sonntag, Decker & Co.,
5882,092
5195,657
Quarterly dividends.
(431%)363,663 (4)323,256
40,407 has removed its offices from the Woman's Temple to the
Surplus
• $714,086
5558,836
$155,250 Rookeryrsuite739.
172
THE CHRONICLE
[VOL. Lxxxx.
quirts anti Documents.
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.
Jersey City, N. J., December 14 1909.
Application is hereby made by the United Railways Investment Company for the listing of $18,150,000 par value of
its Five Per Cent Collateral Trust Sinking Fund Gold Bonds,
numbered from 1 to 18,150, both inclusive, for $1,000 each,
secured by the pledge of 484,000 shares of the common
'Capital Stock of the Philadelphia Company of the par value
of $50 each, under the terms of a First Lien Collateral Trust
Agreement, dated the 5th day of April 1906, between said
United Railways Investment Company and The New York
Trust Company, in the City of New York, as Trustee, which
Trust Agreement is in substance and in fact a First Mortgage
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
of $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 semiannually on the 1st day of November and the 1st day of
May in each year, at the office of said The New York Trust
Company, Trustee, or at the office of Guarantee Trust &
Safe Deposit Company, Philadelphia, at the option of the
bearer. They may be registered as to principal only and
both principal and interest are payable in gold coin of the
United States of the present standard of weight and fineness.
The creation and issue of the bonds, for the purpose of the
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 recommendation of the Board of Directors of the Company, contained 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 amendment to such Certificate of Incorporation its name was
changed from the "United Railways Investment Company
of San Francisco" to the "United Railways Investment
Company."
The present total authorized issue of bonds under said
Collateral Trust Agreement is $20,250,000, of which there
are now issued and outstanding $18,150,000 of bonds above
mentioned, all of which have passed beyond the control of
the Investment Company and into the hands of investors.
The said bonds so issued were used by the Investment
Company in part payment of the purchase price of 484,000
shares of the common Capital Stock of the Philadelphia
Company, forming part of a present total outstanding issue
of said stock of 664,800 shares. The shares of stock so
purchased are lodged with The New York Trust Company, as
Trustee, under the terms of said Collateral Trust Agreement
as security for said $18,150,000 of bonds.
The remainder of said authorized issue of bonds, namely,
$2,100,000, are reserved under the terms of said Collateral
Trust Agreement for use in the acquisition by the Investment
Company of so many of 55,200 unissued shares of the
common Capital Stock of the Philadelphia Company, constituting the remainder of 120,000 shares of increased
common Capital Stock of said Company provided for in
said Trust Agreement, as the United Railways Investment
Company may deem it advisable or expedient, or as, under
any of the provisions of said Trust Agreement, it may be
obligated to acquire. Such stock, when so acquired, is to
be pledged with the Trustee as collateral security for the
bonds.
Under the terms of the Collateral Trust Agreement the
total amount of bonds outstanding can at no time exceed
Seventy-five Per Cent of the total par value of the common
Capital Stock of the Philadelphia Company pledged thereunder.
All or any of the bonds outstanding are subject to redemption by the Company at any interest period at their
face value and Five Per Cent premium with all interest
accrued and unpaid thereon at the time fixed for such
redemption, and in case of redemption of any part of the
issue the bonds so to be redeemed shall be drawn by lot.
Bonds so redeemed with their coupons shall be canceled
and not reissued. Notice of such redemption must be given
by advertisement published once a week for four consecutive weeks in four daily newspapers of general circulation,
two published in the City of New York, one published in
therity of Philadelphia, and one published in the City of
Pittsburgh, stating the numbers of bonds to be redeemed
and the time for the presentation and surrender thereof,
which shall not be less than sixty days nor more than ninety
days from the beginning of such publication.
Within the year prior to the 1st day of May 1912 and.
annually on or before each successive 1st day of May thereafter until the principal and interest of all bonds issued and
outstanding are fully paid, the Company will pay or caused
to be paid to the Trustee an amount of money in gold
coin of the United States of its present standard of weight
and fineness equal to One Per Cent of the par value of the
bonds issued and outstanding on the 1st day of May 1911.
Such money must be applied by the Trustee to the purchase
of said bonds in the 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 redemption of bonds. The bonds so purchased or drawn
for the sinking fund shall not be canceled, but shall be
held by the Trustee, stamped "Not negotiable, property
of the Sinking Fund," and all interest accrued thereon
shall be collected by the Trustee and invested or applied
as other sinking fund moneys are invested; but such bonds
shall no longer be deemed to be outstanding except for the
purpose of drawing interest for the sinking fund, nor shall
they be entitled to share in the proceeds of any sale of the
Common Stock of the Philadelphia Company pledged and
hypothecated under 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
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
thereof shall have been given to the Investment Company
by the Trustee; or,
If default shall be made in the payment of the principal
or the Interest of any bond secured by Mortgage or Deed
of Trust upon or pledge of any property owned by the
Philadelphia Company, or owned by any other company of
which the Investment Company shall own a majority of
the Capital Stock, and by reason thereof proceedings shall
have been instituted for the enforcement of any such Mortgage, Deed of Trust or Collateral Agreement; or,
If an order shall be made for the appointment of a permanent Receiver of the Investment Company or of the Philadelphia Company,or of the United Railroads of San Francisco,
or for the winding up or liquidation of the business or
affairs of either of said Companies, and such order shall
remain in force for a periad of thirty (30) days, or if corporate
action shall be taken on the part of either of said Companies
for either of the purposes aforesaid;
Then, and in each and every case of the happening of any
such event of default, by notice in writing delivered to the
Investment Company, in its discretion, the Trustee may,
and upon the written request of the holders of a majority
in amount of the bonds hereby secured and then outstanding,
forthwith the Trustee must, declare the principal of all said
bonds then outstanding to be due and payable immediately
and upon any such declaration, immediately the same shall
become and be due and payable, anything in this Agreement
or in said bonds to the contrary nothwithstanding.
The present authorized Capital Stock of the Company is:
Preferred Stock Five Per Cent Cumulative
Common Stock
Total authorized
$25,000,000
25,000,000
$50,000,000
Of which there is now issued and outstanding:
Preferred Stock
Common Stock
Total issued and outstanding
$16,000,000
20,400,000
$36,400,000
Of the Capital Stock of the Company so outstanding,
$15,000,000 of the Preferred and $19,400,000 of the Common
Stock are listed upon the New York Stock Exchange. The
remainder of said outstanding stock, namely, $1,000,000 of
Preferred and $1,000,000 of Common Stock, has not been
listed, being represented by certificates of special form
intended for temporary purposes of the Company, and
deposited with the New York Trust Company, as Trustee, in
THE CHRONICLE
JAN. 15 1910.1
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 FOR TEN
MONTHS ENDED OCTOBER 31 1909.
IncomeDividends on stocks owned
$1,560,672 00
Interest on loans, accounts receivable, &c_ _ _
37,892 13
$1,598,564 1$
ExpensesLegal
$12,692 95
Salaries
14,471 07
,
4,560 00
Taxes
4,157 50
Transfer Agents' and Registrars' fees
1,043 55
Stationery and postage
1,948 12
Directors fees and expenses
1,291 27
Tax on bonds held in Pennsylvania
172 55
Advertising
12,875 38
General
$53,212 39
Other Income ChargesInterest on bonds
Interest on Six Per Cent Notes of 1908.... _
Interest on Dividend Certificates
Interest on loans payable
Interest on United Railroads of San Francisco current account
Miscellaneous interest
Proportion of discount on Six Per Cent
Notes of 1908
756,250 00
164,000 00
66,879 32
47,658 49
12.393 56
3 59
12,500 00
$1,059,684 96
$1,112,897 35
Total
485,666 78
1,089,961 09
Net income for the period
Profit and loss-surplus at beginning of year
$1,575,627 87
Profit and loss-surplus October 31 1909
GENERAL BALANCE SHEET OCTOBER 31 1909.
AssetsSecurities owned:
United Railroads of San Francisco Stock:
50,000 shares First Preferred $100 par
value each.
200,000 shares Preferred, $100 par
value each.
88,014 shares Common $100 par value
each.
Philadelphia Company Stock:
484,000 shares Common, $50 par value
each.
The Railroads & Power Development Company Capital Stock:
55,000 shares $100 par value each
$60,926,513 10
262,910 11
Other securities
Total securities owned
Current assetsCash on deposit
Notes receivable
San Francisco Ry. & Power Co
San Francisco Electric Railways
United Railroads of San Francisco Dividend Warrants Nos. 3 and 4
Suspense account
Interest accrued, not due
Expenses paid in advance
$61,180,423 30
$533,471 36
317,500 00
18,750 00
192 40
2,516 50
5,000 00
1,303 97
1,970 00
880,704 23
2,347 48
Total current assets
Furniture and fixtures
Deferred chargesDiscount on 6% Notes of 1908
116,875 00
$62,189,350 01
Total assets
LiabuiittesCapital StockPreferred-160,000 shares, $100 par
value each
$16,000,000 00
Common-204,000 shares, $100 par value
each
20,400,000 00
Total Capital Stock
$36,400,000 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 CertificatesBearing interest at 6%
$712,500 00
Bearing interest at 5%
750,000 00
Total Dividend Certificates
Current liabilitiesLoans payable
United Railroads of San Francisco, current
account
United Railroads of San Francisco, dividend warrant account
Bond interest due, coupons not presented_
Interest due on 6% Notes of 1908, payment not demanded
Interest accrued, not due
Total current liabilities
Profit and loss-surplus
Total liabilities
1.462,500 00
$862,257 50
82,854 50
2,516 50
3,148 26
2,172 11
546,273 27
1,501,222 14
1,575,62787
$62,189,350 01
Note.-The Company has a contingent liability amounting to $48,544 05
for accounts of San Francisco Railway & Power Company, which it has
guaranteed Jointly with United Railroads of San Francisco.
-Harriman & 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 Baltimore, 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 circular of bonds for investment. Copies will be mailed on
request.
-Max J. Bonn and Walter Bonn have commenced business as merchants and foreign bankers under the title of
Bonn & Co. at 623. Old Broad Street, London, E. C., Eng.
173
ilxc Tomutercial
Times.
COMMERCIAL EPITOME.
FridayiNight, 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 12c.
%
Refined lard has been
quiet, with Continent steady and other kinds easier. Continent 13.50c., South America 14.25c. and Brazil in kegs
15.25c. Thespeculation 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 undertone of the market has in the main been firm, with the strong
live-hog situation the dominant factor.
DAILY CLOSING PRICES OF LARD FUTURES IN CHICAGO.
Sat.
Mon.
Tues.
Frt.
Wed. Thurs.
12.60
12.50
12.60
12.72% 12.7734 12.7234
12.0734 12.0734 12.10
12.25
12.2734 12.25
12.0234 12.0234 12.0234 12.20
12.20
12.20
January delivery
May delivery
July delivery
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
$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,
12Yi ®133(0.; pickled ribs, clear, light to heavy, 13@133c.
Tallow has been quiet and steady; City 6Y4c. Stearines have
been dull and easier, though without marked change; oleo
17@18c. and lard 133j®14c. Butter has been in moderate
demand and firm; creamery extras 34c. Cheese has been
quiet and firmer; State, f. c., Sept., fancy, 17Xc. 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, consumers apparently expecting another advance. City, raw,
American seed, 77@78e.; boiled 78®79c., Calcutta, raw,
85c. Cottonseed has been quiet and easier; winter 7.50@8c.
and summer white 7.45@7.99c. Lard has been quiet and
firm, with supplies light; prime $1 25, No. 1 extra 65@68c.
Cocoanut has been quiet and firm; Cochin 93
4®10Y4c. and
Ceylon 93‘®954c. 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 Newfoundland 42@44c.
COFFEE on the spot has been quiet and steady; Rio No. 7,
83
/0.; Santos No. 4, 93/s ®9Wic. West India growths have
been quiet but firmer; fair to good Cucuta 10©103/
2c. 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 principal buyers.
Closing prices were as follows:
January
February
March
April
6.700.
6.75c.
6.75c.
6.80c.
May
June
July
August
6.80c.
6.85c.
6.900.
6.90c.
September
October
November
December
6.90c.
6.90c.
6.90c.
6.85c.
SUGAR.-Raw has been more active and firmer. Centrifugal, 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 4.40e. and cases
10.30c. Gasoline has been in moderate demand and steady;
86-degrees, in 100-gallon drums, 188
/0. Naphtha has been
quiet and steady; 73©76-degrees, in 100-gallon drums,
163
/0. Drums $8 50 extra. Spirits of turpentine has been
fairly active and stronger at 623/
2e. Rosin has been quiet
and firmer; common to good strained $4 40.
TOBACCO.-There have been no noteworthy developments 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 considerably 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 8c., electrolytic 133
/0. and casting 133
/
8®
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 quiet,
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
materials has been active.
On Shipboard, Not Cleared for-
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
for the same period of 1908-09, showing a decrease since
Sept. 1 1909 of 1,398,336 bales.
Receipts ad=
Sat.
Galveston
Port Arthur__ _
Corp. Christi,&-c.
New Orleans
Gulfport
Mobile
Pensacola
Jacksonville, &c.
Savannah
Brunswick
Charleston
Georgetown
Wilmington
Norfolk
Newp't News.&c.
New York
Boston
Baltimore
Philadelphia
3,878
___
7,856
1,578
366
2,623
-:1711-3
1,515
Wed. Thurs. Fri.
Mon. Tues.
--5,692 24,043 7,683 9,483 12,042
____
7,818
598
--------------'7,418 '7080 12483 4618 3,077
72
548
--ii
-iiiii
1,3ii
-Sig
5,550
296
____
___
2,061
4,3'78 4,202 1,849 2,080 2,925
900
364
87
-iii -55
-556
iiiii
5. 5- .
'
1
'
-------------_
ioo
48
1'7'7
'74
iao
195
-------
-iai
135
____
25
Total.
62,821
7,818
598
42,532
72
4,884
5,550
2,723
18,057
900
1,610
3,428
5,826
398
164
750
1,233
50
480
859
398
64
65
1,233
25
Total this week 19,212 28,813 38,756 23,336 25.351 23,946 159,414
The following shows the week's total receipts, the total
since Sept. 1 1909, and the stocks to-night, compared with
last year:
1909-10.
Receipts to
January 14.
1908-09.
This Since Sep This Since Sep
Week. 1 1900. Week. 1 1908.
62,821 1,923,164 80,271 2,590,567
Galveston
82,257
88,271
8,901
7,818
Port Arthur
42,495
598
Corp. Christi, &c.
27,855 2,876
42,532 786,597 64,336 1,324,891
New Orleans_ _
9,052
8,053
72
Gulfport
4,884 181,342 9,293 265,513
Mobile
96,691 10,235 101,922
5,550
Pensacola
23,935
616
32,387
2,723
Jacksonville, &c_
18,057 1,145,538 20,005 1,135,104
Savannah
900 191,080 12,901 253,139
Brunswick
1,731 150,743
1,610 189,633
Charleston
175
1,591
834
Georgetown _ _
3,428 278,477 8,847 307,823
Wilmington _
5,826 383,135 12.924 409,231
Norfolk
964
4,881
11,158
398
Wport News, &c_
40
3,742
13,561
164
New York
431
10,638
5,515
750
Boston
64,639
41,864 2,233
1,233
Baltimore
2,3.76
50
677
50
Philadelphia
159,414 5,396,022 236,829 6,794,358
Total
Stock.
1910.
1909.
179,641
130,498
205,163
795
43,977
310,657
110,610
6,911
33,086
122,255
20,073
17,866
12,116
35,795
9,820
33,963
168,172
6,456
12,737
3,591
182,078
7,930
24,677
1,455
819,050
926,559
65,287
In order that comparison may be made with other years,
we give below the totals at leading ports for six seasons:
Receipts at-
1910.
Galveston
Pt.Arthur,&-c.
New Orleans_
Mobile
Savannah
Brunswick
Charleston,&c
Wilmington
Norfolk
62,821
8,416
42,532
4,884
18,057
900
1,610
3,428
5,826
1909.
80,271
11,777
64,336
9,293
20,005
12,901
1,906
8,847
12,924
1908.
1907.
75,038 131,592
1,498
9,087
96,138
83,894
9,534
7,346
26,153
35,695
3,684
8,487
2,372'
2,796
11,479
11,805
17,737
13,999
1906.
47,657
3,998
40,002
4,168
14,401
2,468
1,581
3,410
4,577
1905.
27,334
288
54,081
3,885
14,350
1,767
1,520
3,164
8,402
1 01:1° 10,M 13,g3t
2
4,429
AM
62
16,27
8,0gg
236,829
242,136
339,479
138,799
122,752
Total this wk_
159,414
Since Sept. 1.. 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
of 98,385 bales, of which 53,998 were to Great Britain,
600 to France and 43,787 to the rest of the Continent.
Below are the exports for the week and since Sept. 11909:
Week ending Jan. 14 1910. From Sept. 1 1909 to Jan. 14 1910.
Exported toExported toExports
front-
Lxxxx.
THE CIIRONICLE
174
ContiGreat
Great
ContiBritain. Fence nent. Total. Britain, France. neat.
Total.
Other CoastGerGreat
Jan. 14 at- Britain. France many. Foreign wise.
Total.
Leaving
Stock.
19,767
94,832
2,371
1,000
11,250
19,902
2,600
11,000
185,396
84,809
108,239
32,086
32,727
15,893
165,572
31,606
Total 1910_ _ 34,073 17,015 49,421 22,173 40,040 162,722
78,070 17,551 47,541 29,017 17,198 189,377
Total 1909
88,650 45,567 64,669 27,242 28,720 254,648
Total 1908
656,328
737,182
690,569
New Orleans.._
Galveston ___ _
_
Savannah
Charleston_ ___
Mobile
Norfolk
New York_ _ _ _
Other ports_ _ _
143
3,067 2,559 5,650 8,348
20,506 12,264 34,721 11,846 15,495
1,692
679
-- - 1,60
3,500
4,750
3,000
19,902
300 1,300
500
500
4,000
7,000
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
was heavy liquidation and a crash in prices amounting of late
to about $13 50 a bale. Last Monday's ginners' report,
though regarded as superficially bullish, failed to stimulate
the market. On the contrary, it was followed by enormous
liquidation, apparently very largely by leading operators in
New York, New Orleans and Chicago. Large trade interests
were also believed to have sold heavily. Memphis and the
South generally sold, and also Liverpool. The market was
found to be practically bare of a short interest,except that
against spot cotton stored in various parts of the world, so
that when bulls tried to liquidate prices crumbled. Spinners
continued to buy on a very moderate scale and the belief in
the trade is that they will pursue this policy until values
have a more settled appearance. Of late contract quotations
have on several occasions in a single day declined as much as
60 to 70 points or more. The effect has been demoralizing
among speculators. The aggregate decline within a short
time has been so great that the inevitable effect must be a
very cautious policy on the part of the mills in buying the
actual cotton, while as for speculation it has received a
blow from which it is not likely soon to recover. Large
operators may from time to time attempt to mark up prices,
but the outside public, which consists in the nature of things
for the most part of small traders, is smarting under such
severe losses that it will hesitate to risk a similar experience.
During the past week selling on stop-loss orders has been a
noteworthy feature; increased margins have been demanded
and a further decline in the stock market has occurred, all of
which has hastened the downward movement of cotton
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:
c 1.50 on
Fair
Strict mid. fair_ _ _ _1 3000
1.10 on
Middling fair
_0.66 on
Strict good mid
Good middling__ _0.44 on
Strict middling_ _ _ _0.22 on
Basis
c
Middling
Strict low. mid_ _0.25 off
0.80 off
Low middling
1.05 oft
Strict good ord
1.75 off
Good ordinary
Strict g'd mid. tgd_0.35 on
Good mid. tinged.e Even
Strict mid. tinged_0.15 off
Middling tinged__ 0.25 off
Strict low.Mid.ting_0.60 off
I.ow mid. tinged_ i.n0 off
Middling stained _ _ _0.75 off
Galveston ____ 24,288 -_-- 20,602 44,890 552,330353,104 629,634 1,535,068
88,271
49,86
.398
Port Arthur_
Corp.Chris.,&c. ---------------------------13,140 13,140
The official quotation for middling upland cotton in the
New Orleans_. 19,538 600 2,706 22,844 291,919 132,325 150,729 574,973
17,914 90,992 New York market each day for the past week has been:
21,721 51,357
3,201
3,201
Mobile
22,492
98,738
38,418
37,828
_
_
_
5,55(1
___
--------5,550
Pensacola
Sat. Mon. Tues. Wed. Thurs. Fri.
7,258
Jan. 8 to Jan. 147,258
Gulfport
15.85 15.45 15.30 15.00 14.95 14.45
93,536 82,148 359,438 635,122 Middling uplands
1
Savannah
'
6
84,555
5,496
158,259
0
2
,
8
------------------6
Brunswick ---____
-_
____
_-_---NEW YORK QUOTATIONS FOR 32 YEARS.
___
92,274 104,094
11,820
Charleston_
___ ___.
8.25 1886_c_____ 9.31
8.25 1894_c
14.45 1902_c
Wilmington_
___ ___- 2,000 2,000 92,265 15,700 153,474 261,439 1910_c
11.06
10.00 1893
0.62 1885
9.60 1901
105
4,905 1909
Norfolk
_-_4,800
_ _ _. _ __ _
10.69
7.69 1892
7.56 1884
11.65 1900
Newport News
1908
10.19
6.06 1891
9.50 1883
58,643 180,110 1907
10.70 1899
New York
184 ____ 1,256 1,440 84,976 36,491
12.00
10.44 1882
5.88 1890
7,523 76,691 1906
11.95 1898
Boston
760 69,168
98
11.94
9.88 1881
7.31 1889
7.20 1897
Baltimore -----------14,944 3,780 24,170 42,894 1905
__ ____
400
400
12.88
1880
10.50
9,598
1888
___
8.19
1896
42,224
Philadelphia _ _
13.80
32,626
3C10 __._
1904
300
____
9.31
9.50 1879
_
5.75 1887
____ ____
Portland, Me_ _
350 • 1903
8.85 1895
350
12,727
San Francisco_
12,727
1,iii 1,92.
7
YORK.
NEW
AT
SALES
AND
MARKET
14,171
14,171
Seattle
202
-202
2,347
Tacoma
2,347
- - --- ---- - --200
Portland, Ore_
Sales of Spot and Contract.
200
Futures
600
Market
Pembina601
Spot Market
Con- Con-----------------Detroit
Closed.
Closed.
Spot. sum'n. tract. Total.
53,998 600 43,787 98,385 1,506,750734,217 1,703,6003,944,573
Total
100
100
Saturday__ Quiet, 25 pts. adv_ _ Strong
Total 1908-09_ 195,747 48,224 107,340351,311 2,283.516693,2782,304,0125,280,808 Monday___ Quiet, 40 pts. dec. Weak
5-,565 5,200
530
530
Quiet, 15 pts dec. Steady
Tuesday
Wednesday Quiet, 30 pts. dee _ Barely steady
350
In addition to above exports, our telegrams to-night also Thursday _ Quiet, 5 pts. dee_ .._ Weak
350
700 1,050
350
Friday__ _ _ Quiet, 50 pts. dee_ Irregular
of cotton on shipboard,
following
not
give us the
amounts
cleared, at the ports named. We add similar figures for
New York.
Total
980
___- 6,250 7,230
•
JAN. 15 1910.]
THE CHRONICLE
175
FUTURES.-The highest, lowest and closing prices at
AT THE INTERIOR TOWNS the movement-that is,
New York the past week have been as follows:
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
2
'''
:V
R
(-).owc”now:-.(1.2oZczlgow,
:tow:in4,0-)?
in detail below.
6p16o1Folowl 00;aaPloPloPloP7O-Pa.60151.1
A ag '14 4.4 4.14 -"g q 114 14.41 4R 444 '
4
C4000
666.1
:
1: 6M
T@
@
ww
4'4
oo
I
I
I
I
j.0
NW
'sh
elZ
WT., '
'
e:
,X
0
C0
.e
;
- '
ci
‘;
itI 000
II
Il
I@
ow
N.
...1
oo
6:.
NW
OW
NN
C.,:-,
OW
WO
WO
WO
r
pc4
wc4
0000
:-,6
ww
vc. 00
66A1
NW
WI
TW
W
0L4
To
60
To
WC.
WW
AA
000
I@
t
.7...t
..4.
-4
W6
:4
L46
COA
CAW
ACA
A
ACA
tt
tt
tl
t1
elCO
el
ZI:.
'
,
14
Cl
:•4 14
::I
=
'
.4I =
6
66
A
il
66
l®
I@
I@
I@
I@
I®
I@ @@
I®
10
.. .. .. .. .. ..
. ..
. ..
NW
WC. ,
4 4 ACT
AA
AW
A
,
4 ,
4
A
AA
liL4i 6M 61
6W
il
wo 0000 ow ..w .w
o.. oi
oo oi
uo
II
=
is
"
-4 ni
elVs
Zel
.46M6
.
NN
*-4b. ii
I I
00
I
I
I@
e
l
l Z
ZI
elZ
l
ZI
ML4
M.
..]
a
*
L46
CO
Zel
.66
TZ ..
11 ".
TZ ..
11 ..
TZ ..
TZ ..
i@ ..
'CZ "
I@ ..
TZ
..
NW
WW
WA
WA
WA
WA
WA
WA
W
4
,
6
oo
66 .
..2:P.
oo vo
66
vo
64
o
66
..IN
0°6
00
0e:4
WA
* 41
COI
RI
I ',1
Ir
,
6
Op
;4.
CO
0
0
IC
:
I:
Ir. IZ
III;:
Ir.
CO
.4
*-4
C.
CO
00
0
COCI
le le le le le le le le
Ca
A
CA
CO
..
CO
*0
CO
Cl'
.
I - I i•
CA
I
WA.
I
.46
OW
.
I C.
le I!
Cli
CO
,1
'
000°
00
”.67.0
1
-o CO
0
.0
o8
CO
a
4a
A -g
,1,fig?r
.00°,4
U
CII
CO
CO
a
0
A
.• .
000'C4
.A
w.. .. .
A .
W.
14 0
0-' CO 1010
.
"
W09W09W:-.0000 1.000
.100100
.
0000
.
- 10
CO 0WWOWCAON.WW.WWW00NWoo........WWwW.
WW
W ..
.INM0-4000...1NAW0W0.0CAMWO..WW0.M.0.VW
A .
.0
W
CO
N
w. .
.
0 ....MNCAN 0
'0010../0'03C401000.4001000 WwwN.CNAAco.
W
CACA0.W....NNO.NWJWACDAMOWA.0Nw..C.NMNWO
0 .
W7
.-.WOW7,14:4
,
ZAWi..1.71,7A
.
01
.100:41
.1W
Ca 000.4
,
0090.'wA00WA0'M.A000O00041000WW000004.4w00WA00
...1....WWWWANwW41
.0WW..4JOCACA04.....IWAA.w0N0MM
. .
N
A
0 .M
W.A.. WNW.
M
N.
.AWN
W
CO WO CI'
01
WTAA09.400W
.
.WWWWA0000:AWIAO0404000
.
0
u to.c.0-4Nc.o....coslum.o.lw.c.
..mmoc,..1,0,11
,
0 .40100090010WW000400000W40000W10O00A0000w0910o000..
.
.
-4 .
W .• A... .NN
hi
.4
N
.M.N
WN.
eD1
.0090 004101010001004 0000..5..4000040010 0009,I0000...3 00AW0$.
,
..i s
t.
".
w
o
M..41o
'
ca10040009:1004Mi.,
.
" W14o0L0404;,WivW "
..obLe00".i0
om0000.o..wowwwwowo....00....u.o..
10o00o0'000000000010100'0&oo,..400o00o0004..4,.1000...iw00
:
="
2,,
..'
5.1
. .
w
o
0 W .4.WW .
sPW. 001010
o .0
,
00-1'310.4.4 101.100W0041-'0200.100,..00,,0100-00170000
0
.
I ?.,
.VI0004.CP00.4044WW009100.40000094,0.4...00.00410C
o.v...ovoow..00mwo..00wvowwoo.www
mo
a
R
o .
w..
.. , ...
v
M ..4.0-.001'4 0'041-'00 .WW.A.WWMAM
WWWWOONW..WA. 4 .
•
.0000-4o00o0'00..0100v0000o.v00..00ow.wow0A.00&ow
Co
-.. .
...- 0930000,."
00-o .000
000
'
'
w.
6M"
.4-wV.0
-W0
olOO.A0V.VOW.VWOOVWO04.0U0WW0000V-4WO .
1-40040010,004•'400400-44WO00000 WM.
I00000010100.41
00I00000000
,
,
0'
Movement to January 15 1909.
I@
el.7.
Friday,
Jan. 14.
6
.
2;
0
ow
= = ZZ
:. :.:.
66
.4W
M'
Thursday,
Jan. 13.
n
a
r3V, .71Z 2.7: .7: 7..7: :1
1
ZZ .7.1 '
'
ii.
I
o
to
I '.4.,6
II
Ir.
CO
'409r
oc. c.c.
:..i., :-.6
WO
OW
T .
To.
,,.
.
r
(o(o
Te.
I @ ..
@ ..
I@ ..
1,0 ..
I® ..
..
.•..
..
=
T@
c.c)0
W:.
NO
g
Season.
66
vo
CO
WI
WI
T
00000
66
.W
003
1M
Receipts.
Lae:,
ou
W..O
x
-
CO
Wednesday,
Jan. 12.
OW
mo
w:. MM
0 ..m
i ',tl Z-,:Z;
WW
la•
P
Movement to January 14 1910.
TO
4:. 66
4
I
66
EF.,F0p
4.- c7-4o"
-
Week.
5Z = VX ';,"Z; ZX
.:-,M
614
00'
=
0L4
AN
0'0OI
WI
AN
.-.-O
7T
ro
.
r..........." - 0 ..
VsZ
II
NW
61
AI
ML4
II511
L4M
cm.
WO
W;..
CoW
ZZ
Wis,
;117;
'
17;1z;
- Z.-1 ,
t1I 00;0';
.I
lo .
4
i.
"
i r.
t `!
'
it
j1ito
.T:
g
i 1 ..
..
j.
.
..
.'...Y..j.
WW
WA
CAW
CAW
OM
0000 Cn
CO
OO
COO .
I®
..
NN
6
Tuesday,
Jan. 11.
rog
OM
e
6tl
tZZUOWgC)
C4/
c2
(
44gngt?
P OOn r,""g0e,.
.n"80NOE2;71:Tzgt(175°P7
MCO5".g45Me.t.8"°
5
. 0
0°000P'C
(105
"51":7g00 1:75fa.9 .i
ne.g
,
.1P
'
1
"
1
1 5
g ''
p.t.
Monday,
Jan. 10.
II
Tt
b.
8: tt
t
II
@ 1@
1 6 I@ N (0@ T(0
t'
@ I@
*
.. .. .. ..
. ..
. ..
. ..
uu .. oo oo o
oo w
oo o
oo
.44 iA, -4:4 OO Oi
.41
.
-46
MI
WO .
OO
.. wo oo -4.4
om
oi
ow
oo
ol
wi
Saturday,
Jan. 8.
00 II 00
42.
.
CO
hi
I
.I.i1
II IC'
.V 1 .00 '
ll .41h
00
.
G .4100041000004001000. MWW
0
WWWW,
1
14
WIG
W ...C. 040010O
4-'000- 1
402M0
-4,-A.
0
0040000000 W1OW009,
On '
I00W001O000W00W0A0014004O04WOA00, !
THE VISIBLE SUPPLY OF COTTON to-night, as
,
F
N .4WW0
,
11.1, ..A.AWNOWAMOMMOOWWWWM0W0...1WW.
.
.
made up by cable and telegraph, is as follows. Foreign
M .
e t')
•..r• ,1,..
M.A.N.WWW.. ...c.w
A
W
W.. ....40004 004000000 1-'000,0- O10...1.44,CA1000A0010A.
N
WM
-.I...
stocks, as well as the afloat, are this week's returns, and
140
P. 6
.
0.4
.
m
.
c1
.10
.
10009oo09061
.166
.
06664W-414.
00400W PI0''
consequently all foreign figures are brought down to Thurs000010004-400000,10,I00GA.,10.09100400
000
.
...1
a
t4 0410Nuo.00060"04,0-00'.PC,0000900'0000009v,0
day evening. But to make the total the complete figures for to-night (Friday), we add the item of exports
The above totals show that the interior stocks have defrom the United States, including in it the exports of Friday creased
during the week 22,771 bales and are to-night 111,436
only.
bales lass than at the same time last year. The receipts
January 141910.
1908.
1909.
1907.
Stock at Liverpool
bales.1,084,000 1,068,000
790,000 at all the towns have been 27,251 bales less than, the: same
939,000
Stock at London
5,000
10,000
12,000 week last year.
13,000
Stock at Manchester
71,000
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
58,000
58,000
57,000
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
859,000
11,000
360,000
216,000
3,000
17,000
121,000
1,000
825,000
80,4,000
580,000
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
173,000
99,000
Amer. cotton afloat for Europe__ 423,893 913,495 966,100 902,100
Egypt,Brazil,&c.,aflt.for Europe_
51,000
56,000
64,000
75,000
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
11,039
U. S. exports to-day
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:
AmericanLlirerpool stock
bales. 998,000 967,000 811,000 811,000
Manchester stock
60,000
44,000
44,000
43,000
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
819,050 926,559 945,417 1,293,206
771,436 882,872
U.S. interior stocks
544,020 677,672
11,039
U. S. exports to-day
31,803
60,449
30,951
Total American
East Indian, Brazil,
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
3,866,418 4,525,729 3,842,488 4,352,427
86,000
5,000
11,000
42,000
166,000
51,000
229,000
543,000
1,133,000
101,000
10,000
14,000
44,000
109,000
56,000
296,000
335,000
128,000
13,000
15,000
78,000
99,000
64,000
251,000
447,000
104,000
12.000
13,000
40,000
173,000
75,000
245,000
479,000
965,000 1,095,000 1,141,000
3,866,418 4,525,729 3,842,488 4,352,427
Total visible supply
4,999,418
Middling Upland, Liverpool
7.84d.
Middling Upland, New York
14.45c.
Egypt, Good Brown, Liverpool
14 4d.
Peruvian, Rough Good, Liverpool
9.75d,
Broach, Fine, Liverpool
7!id.
Tinnevelly, Good, Liverpool _ .
73id.
----1909-10----
January 14ShippedVia St. Louis
Via Cairo
Via Rock Island
Via Louisville
Via Cincinnati
Via Virginia points
Via other routes, doc
Week.
14,773
2,342
2,175
1,148
1,927
2,388
4,923
Total gross overland
. 29,676
Deduct ShipmentsOverland to N. Y., Boston, &c_ _ _ 2,197
Between interior towns
948
Inland, &c., from South
1,170
Total to be deducted
Leaving total net overland*
----1908-09----
Since
Sept. 1.
240,121
119,296
12.441
43,405
27,319
74,295
99,613
Week.
17,272
7,693
1,799
2,914
595
3,864
14,873
Since
Sept. 1.
383,513
212,609
13,147
48,054
30,067
99,457
165,395
616,490
49,010
952,242
51,798
18,791
23,864
2,754
295
560
91,214
28,458
19,079
4,315
94,253
3,609
138.751
25,361
522,237
-45,401
813,491
• Including movement by rail to Canada.
The foregoing shows the week's net overland movement
has been 25,361 bales, 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.
-----1909-10-----
/n Sight and Spinners'
Since
Takings.
Week. Sept. 1.
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
Total marketed
Interior stocks in excess
236,775
•22,771
6,932,259
5,490,729 4,937,488 5,493,427
688,273
5.86d.
5.14d,
6.50d.
Came into sight during week
10.80c.
214,004
9.65c.
12.25c.
Total in sight Jan. 14
7,620,532
8 15-16d,
10 Xd.10 11-16d.
9.25d.
11.25d.
7.75d.
4 1346d. 5 13-16d. 5 11-16d. North.spinners' takings to Jan. 14_ _ 67,911 1,320,238
5 Md.
4 13-16d.
53'
• Decrease during the week.
past week have been 142,000
Continental imports for the
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 increase of 61,930 bales over 1908, and a decrease of 494,009
bales from 1907.
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:
1908-09-Since
Week. Sept. 1.
236,829 6,794.358
813.491
45,401
50,000
896,000
332,230 8,503,849
767,857
'21,772
310.458
9,271,706
76,281 1,556,498
Movement into sight in previous years:
Week1908-Jan. 17
1907-Jan 18
1906-Jan 19
1905-Jan, 20
Bales.
308,714
422,784
211,705
145,222
Since Sept. 11907-08-Jan. 17
1906-07-Jan. 18
1905-06-Jan. 19
1904-05-Jan. 20
Bales.
7,160,358
9,001,253
7 525,133
8,472.315
•
THE CHRONICLE
176
[VoL. Lxxxx.
NEW ORLEANS OPTION MARKET.-The highest, year has been postponed until February. We have, howlowest and closing quotations for leading options in the New ever, his cotton figures brought down to Jan. 1, which are
Orleans cotton market for the past week have been as follows: given below. We also give revised totals for last year that
comparison may be made. The spinners' takings in actua'
bales and ounds have been as follows:
Sat'day. Monday, Tuesday, Wed'day, Thursd'y Friday,
Jan. 8. Jan. 10. Jan. 11. Jan. 12. Jan
JanuaryRange
Closing
FebruaryRange
Closing
MarchRange
Closing
AprilRange
Closing
MayRange
Closing
JuneRange
Closing
JulyRange
Closing_ _ _ .
SeptemberRange
Closing_ _ _ _
OctoberRange
Closing
ToneSpot
Options
13, Jan. 14.
October 1 to January 1.
Great Britain.
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
For 1909.
Takings by spinners
bales
15.84-.85-- © -- © -- © .89- © - Average weight of bales_ ___lbs.
14.88-.90 15.28-.30 14.69-.71 14.45-.47 14.73 - Takings in pounds
For 1908.
15.00-.09 15.08-.50 14.70-.23 14.56-.69 13.70-.84
bales
15.08-.09 15.48-.49 14.88-.89 14.65-.66 13.96-.98 Takings by spinners
Average wcight of bales_ _ _ _lbs.
_ ® ___ ___ ® _ _ ® _a._ _ ® _..... ___ ® _ Takings In pounds
15.21-.23 15.61-.63 15.01-.03 14.78-.80 14.09-.11
HOL/- 15.25-.41 15.34-.79 15.00-.52 14.80-.38 13.94-.10
DAY. 15.36-.37 15.76-.77 15.14-.15 14.91-.92 14.20-.21
_ ® .07- ® _ _ ® _ _ ® _ ___ ® ___
15.44-.46 15.84-.85 15.22-.24 14.99-.01 14.28-.36
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
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
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
Steady. Steady. Steady. Steady. Steady. Steady.
Firm. Steady. Steady. Steady.
Steady.
• Nominal.
WEATHER REPORTS BY TELEGRAPH.-Our telegraphic reports from the South this evening indicate that
the weather has been fairly favorable on the whole during
the week.
Galveston, Texas.-There has been rain on one day the
past week, to the extent of twenty-three hundredths of an
inch. The thermometer has averaged 53, the highest being
68 and the lowest 38.
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, averaging 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
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 thermometer 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 thermometer 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.
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
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
being 58.2 and the lowest 12.3.
EUROPEAN COTTON CONSUMPTION TO 1JAN. 1.By cable to-day we are advised that the publication of Mr.
Ellison's Annual Review of the cotton trade for the calendar
Total.
Continent,
. 928,000
502
465,856,000
1,517,000
2,445,000
491
495.2
744,847,000 1,210,703,000
909,000
505
459,045,000
1,720,000
2,629,000
486
492.6
835,920,000 1,294,965,000
According to the above, the average weight of the deliveries in Great Britain is 502 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.
October 1 to January 1.
Bales of 500 lbs. ea is.
(000s omitted.)
1909.
1908.
Great ContiGreat ',ContiBritain nent. Total. Britain nent. Total.
234
932
1,218
1,489
1,452
2,421
1,166
910
2,707
1,430
256
70
70
70
Spinners' stock Oct. 1
Takings to Jan. 1
Supply
Consumption, 13 weeks
Spinners' stock Jan. 1
Weekly Consumption,
000s omitted.
In October
In November
In December
1,046
1,672
1,354
2,590
3,873
2,340
308
9181
1,226
750
2,718
1,430
3,944
2,180
1,277
1,533
478
1,288
1,764
110
110
110
180
180
180
'30
60
78
110
110
- 110
140
170
188
• Small consumption due to lock-out in Lancashire.
INDIA COTTON MOVEMENT FROM ALL PORTS.
January 13.
1909-10.
Receipts al-
Since
Week. Sept. 1.
Bombay
1908-09.
Week.
For the Week
703,000
Since September 1.
Great Conti- Japan
Great
Britain. nent. &China Total. Britain.
Bombay1909-10__ 5,000 49,000 21,000 75,000
20,000
1908-09.. 2,000 18,000
40,000
40,000
1907-08_ _
Calcutta2,000 2,000
1909-10._
1,000 1,000
1908-09._
1907-08..
Madras1909-10._
1,000
1,000
1,000
1908-09__
1,000
1,000
1,000
1907-08__
AU others2,000
1909-10._
. 2,000
1908-09_ _
I:66o 1,000
2;666 1,000 3,000
1907-08._
Total all1909-10__
1903-09_ _
1907-08__
Since
Week. Sept. 1.
632,000 83,000
116,000 1,193,000 85,000
Exports
from-
1907-08
Since
Sept. 1.
ContiJapan
nent. & China. Total.
20,000 243,000 257,000 520,000
7,000 183,000 149,000 339,00(1
8,000 212,000 124,000 344,000
5,000 52,000 23,000 80,000
2,000 19,000 2,000 23,000
43,000 1,000 44,000
2,000
4,000
1,000
11,000
11,000
9,000
2,000
16,000
4,000
3,000
8,000
5,000
10,000
18,000
1.000
2,000
16,000
5,000
7,000
39,000
60.000
62,000
1,000
6,000
9,000
15,000
31,000'
10,00(1
10,000
15,000
26,00cr
56,000,
71,000
78,000
42,000 298,000 261,000 601.000
19,000 264,000 173,000 456,000
24,000 301,000 133,000 458,000
ALEXANDRIA RECEIPTS AND SHIPMENTS.
it lexandria, Egypt,
January 12.
Receipts (cantars)This week
Since Sept. 1
Exports (bales)To Liverpool
To Manchester
To Continent
To America
1909-10.
1908-09.
1907-08.
115,000
4,344,920
200,000
4,633,920
180,000
5,328,955
This Since
Week. Sept. 1.
This Since
Week. Sept. 1.
This I Since
Week. Sept.11.
4,500 95,469 8,500 08,561 8,500 144,555
78,810
____ 88,936 14,250 130,5311
11,500 164,069 10,500 142,183 10,500 172,753
2,750 42,932 3,000 29,883 5,000 36,710
-----18,750 381,280 22,000 357,563 38,250 484,550
Total exports
Note.-A cantar Is 99 lbs.
Egyptian bales weigh about 750 lbs.
MANCHESTER MARKET.-Our report received by
cable to-night from Manchester states that the marketlia
steady for yarns and quiet for shirtings. Merchants are.
buying very sparingly. We give the prices for to-day below and leave those for previous weeks of this and last year
for comparison:
1909-10.
32s Cop
Twist.
d.
Dec.
3 10%
10 10%
17 10%
24 10%
31 10%
Jan.
7 10% ©
14 10 5-16e1)
1908-09.
834 lbs. Skirt- Coln.
ings, common Mid.
to finest.
UP1's
d. s. d.
11 5
11% 5
11% 5
11% 5
11% 5
s. d.
5%09 11
,6 @100
6 t100
6 ©10 0
634©10 1
d.
32s Cop
Twist.
d. o. d.
d.
7.72 7%
(0)
7.94 7 9-16 ©
8.03 7%
8.26 7% 0
8.60 7% 08
8.18734
6 @100
11%
it 5 5 09 1034 7.84734
83.4 lbs. Shirt- Coko.
Pigs, common Mid.
to finest.
Upt's
®
0-4
8% 4
8% 4
834 4
834 4
3-16 4
a. d.
9 (a8
7%08
6 @)8
6 @8
634E08
434
434
3
3%
4%
83-4 4 7 48 5
834 4 8 rat8 6
Id.
4.97
4.82
4.92
4.90
5.07
5.14
177
THE CHRONICLE
JA.N. 15 1910.]
WORLD'S SUPPLY AND TAKINGS OF COTTON.
1909-10.
Cotton Takings
Week and Season
Season.
Week.
1908-09.
Week.
Season.
5,566,855
5,009,024
Visible supply Jan. 7
1,714,982
1,931,622
Visible supply Sept 1
American in sight to Jan. 14_ __ 214,004 7,620,532 310,458 9,271,706
632,000
85,000
Bombay receipts to Jan. 13_ _ _ _ 116,000 1,193,000
117,000
3,000
81,000
5,000
Other India shIp'ts to .Tan. 13_ _
618,000
27,000
579,000
15,000
Alexandria receipts to Jan. 12_ _
135,000
4,000
132,000
8,000
Other supply to Jan. 12•
5,367,028 11,536,554 5,996,313 12,478,688
Total supply
1
4,999,418 4,999.418 5,490,729 5,490,729
DeductVisible supply Jan 14
367,610 6,537.136
256,610 5,208,136
111,000 1,329,000
Total takings to Jan. 14
Of which American
Of which other
505,584 6,997,959
421,584 5,722,959
84,000 1,275,000
• Embraces receipts In Europe from Brazil, Smyrna, West Indies, &c.
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:
Total bales.
184
TO LIVERPOOL-Jan. 10-Bohemian,39 upland, 145 Sea Island__
100
To Genoa-Jan. 7-Barbarossa, 100
To Naples-Jan. 7-Barbarossa, 906_ _ _Jan. 10-Duca degli
956
Abruzzi, 50
200
To Trieste-Jan. 11-Alice, 200
GALVESTON-To Liverpool-Jan. 6-Basil, 7,759_ _ _Jan. 823,089
Indian, 15,130___Jan. 11-Torr Head, 200
1,199
To London-Jan. 7-Eaton Hall, 1,199
11,486
To Reval-Jan. 11-Torr Head, 11,486
838
To Hamburg-Jan. 11-Eger,838
. 811
To Riga-Jan. 11-Torr Head, 811
17,467
To Genoa-Jan 7-Auchencrag 7,487
7,818
PORT ARTHUR-To Bremen-Jan. 13-Cayo Soto, 7,818
NEW ORLEANS-To Liverpool-Jan. 11-Atlantian, 10,938_ _ _
19,538
Jan. 14-Centurian, 8,600
800
To Havre-Jan. 14-Asian,600
732
To Rotterdam-Jan. 10-Peerless, 112.._ _Trident, 620
724
To Antwerp-Jan. 11-Balaclava, 724
1,250
To Genoa-Jan. 11-Monviso, 1,250
3,201
MOBILE-To Liverpool-Jan. 8-William Cliff, 3,201
5,550
PENSACOLA-To Liverpool-Jan. 10-Gracia, 5,550
275
SAVANNAH-To Manchester-Jan. 13-Ness, 275
1,957
To Bremen-Jan. 12-EsksIde, 1,957
530
To Hamburg-Jan. 12-Eskside, 530
600
To Gothenburg-Jan. 10-Manchester Inventor, 600
50
To Reval-Jan. 10-Manchester Inventor, 50
1,651
To Barcelona-Jan. 8-America, 1,651
1,590
To Genoa-Jan. 8-America, 1,590
400
To Venice-Jan. 8-America, 400
2,000
WILMINGTON-To Fiume-Jan. 10-Eugenia. 2,000
662
BOSTON-To Liverpool-Jan. 11-Devonian, 662
98
To Yarmouth-Jan. 12-Boston, 98
400
BALTIMORE-To Hamburg-Jan. 7-Badenia, 400
PHILADELPHIA-To Manchester-Jan. 7-Manchester Corpora300
tion, 300
1,927
SAN FRANCISCO-To Japan-Jan. 7-Korea, 1,927
202
SEATTLE-To Japan-Jan. 13-Kumertc, 202
98,385
Total
LIVERPOOL.-By cable from Liverpool we have the following statement of the week's sales, stocks, ikc., at that port:
Dec. 24.
22,000
Sales of the week
800
Of which speculators took_ _
800
Of which exporters took__.
16,000
Sales, American
12,000
Actual export
41,000
Forwarded
1,014,000
Total stock-Estimated
Of which Arnerican-Est_ _ 928,000
19,000
Total Imports of the week_ _ .. _
11,000
Of which American
226,000
Amount afloat
165,000
Of which American
Dec. 31.
34,000
600
1,900
24,000
11,000
49,000
1,054,000
952,000
100,000
57,000
209,000
184,000
Jan. 7.
45,000
2,000
36,000
8,000
94,000
1,052,000
960,000
100,000
78,000
189,000
158,000
Jan. 14.
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
BREADSTUFFS.
Friday, Jan. 14 1910.
Prices for wheat flour in the local market have on 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 Southwest have been pessimistic. Sales there have been reported
very small, with prices inclined to sag. Rye flour and corn
meal have been quiet and steady.
Wheat has been quiet, with fluctuations confined within
very narrow bounds. Some of the crop 'reports from Argentina 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 2M to 3 cents over May. Mills have also been buying May futures at Minneapolis, and the Northwestern flour
trade is reported to be active. The Argentina export surplus is estimated in some cases at as low as 8 ,000,000 bushels. 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 increasing. 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 decline is as severe as that in cotton or not. The export 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 infuse 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 liquidation in a market that had become overbought.
DAILYICLOSINGIPRWES OF WHEAT FUTURES IN NEW YORK.
Sat. Mon. Tues. Wed. Thurs. Fri.
132
129
131
132
132
130
12054 12054 12054 12054 12034 119
111% 11034
111 34 111 3,4 11034 111
DAILY CLOSING PRICES OF WHEAT FUTURES IN CHICAGO.
Sal. Mon. Tues. Wed. Thurs. Fri.
11334 11334 11334 11354 11331 11154
May delivery in elevator
10334 10331 103
July delivery in elevator
10354 10334 10254
98 M 9854 9854 98 34 99
98 34
Sept. delivery in elevator
No. 2 red winter, f. o. b
May delivery in elevator
July delivery in elevator
The tone of the Liverpool market for spots and futures
each day of the past week and the daily closing prices of
Indian corn futures in the local market have been nominal.
,
spot cotton have been as follows:
At the West the speculation has been active and excited,and
prices have advanced to new high levels for the season.
Saturday. Monday. Tuesday. Wednesday. Thursday. Friday.
Spot.
Sentiment at the West is very bullish, owing to the light
Market,Fair
arrivals at a time when the shipping demand has increased
business
Moderate
More
Dull.
Quiet.
Small
12:15 1
demand.
doing.
demand.
materially. Cash prices have risen. The weather of late has
Inquiry.
P. M.
been mild and wet in many sections and the roads are said
7.84
7,90
7.98
8,02
8.32
8.27
Mid. Bads
to be breaking up, so that decreased receipts are expected.
011
8,000
8,000
10,000
10,000
5,000
4,000
sales
Meantime there is said to be an extensive short interest
500
500
500
500
500
300
Spec.&exp
among very prominent operators. Com,mission houses have
Futures. Irregular Steady at Steady at Quiet at Irreg. 2pta. Steady at
been large buyers. Reactions have occurred at times, owing
Market 1 at 3®9 78512 pts. 25 points 2854 pta. dec. to 5 8011 pte. to liquidation and selling by cash interests. To-day prices
advance. pts. adv.
decline.
decline,
5 pts. adv. advance.
opened
at the West declined on general liquidation.
Steady
at
Market,
M.
Steady at
Steady at Weak
lO®l834 unet.ti54 ill
le1:igrpadec.pts.ce0.,e
.31Mr. Ih.
4gba.t
I Barely st'y Weak at
eIN
ntst Ali V
sai
The prices of futures at Liverpool for each day are given
below. Prices are on the basis of upland, good ordinary
clause, unless otherwise stated.
The prices are given in pence and 100ths.
Sat
Jan 18
rqto
Jan 114
Mon
Tues
Thus, 8 04 means 8 04-100d.
Wed
Thurs
Fri
123-1 1234 1254 4 1254 4 1254 4 123-C 4 1234 4
p.m. p.m. P.m. P.m. P.m. P.m. P.m. P.m. P.m. P.m. P.m. P.m.
d.
d.
d.
d.
d.
d.
d.
d.
d.
d.
d.
d.
81
1.1
8 0434 14 01 80 90 84 713.4 723.4 70 34 66 6634
January_ _
Jan.-Fch_
8 0434 14 01 80 90 84 7134 7234 70 34 86 8634
Feb.-Mch.
8 07 101.4 0334 83 9234 85 73 743.4 7234 88 68
Mch.-Apr.
8 10 19 05 85 94 88 7534 7734 753.4 70 70
8 1154 2054 0634 8634 953.4 893-4 77 79 77 7234 72
Apr.-May.
8 1334 22 0834 8834 973.4 9134 791.4 8034 7834 7334 733.4
May-Juno
2154 08 88 97 91
June-July
8 13
79 80 78 73 733.4
8 12 20 07 87 98 90 7734 78 34 78 34 72 7234
July-Aug_
7 8534 93 80 61
47 4634
70 6434 52 54 51
Aug.-Sep_
7 38 4634 31
Sept.-Oct.
1734 26 22 14 13 1054 0654 04
7 16
94 92 80 86 8354
233-4 10 96 05 01
Oct.-Nov.
7 05 1234 993.4 85 9434 90 84 82 79 76 7354
Nov.-Deo.
7 0334 101.4 9734 83 9234 8834 8234 80 77 74 711.4
Deo.-Jan.
7 03 10 97 8234 92 88 82 80 77 74 71 34
Jan.-Feb.
DAILY CLOSING PRICES OF NO. 2 MIXED
Sat. Mon.
73
72 54
7654 76
Cash corn
May delivery in elevator
CORN IN NEW YORK.
Tues. Wed. Thurs. Fri.
7334 7434 75 34 76
7634 7854 7854 79
DAILY CLOSING PRICES OF CORN FUTURES /N CHICAGO.
Sat. Mon. Tues. Wed. Thurs. Frt.
6854 6834 68 % 6934 70 34 6834
6854 6854 6834 69 34 6934 68
6954 88
68
6834 683-1 69
May delivery in elevator
July delivery in elevator
Sept. delivery in elevator
Oats for future delivery in the Western market have
been active and in the main stronger, owing to the rise in corn,
light receipts, small country offerings and a sharp increase
in the cash demand at rising prices. The small crop movement 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 corn and wheat and long liquidation.
DAILY CLOSING PR/CESIOF OATS IN NEW YORK.
Mon.
Tues.
Sat.
Wed.
Thurs.
Fri.
Natural
52 54-54
52 54-54 )4 5254-54
white...52 h-54
52 3144
5234-54 )4
White
53 -56
53 -56
53 -56
63 -58
clipped 53 -56
53 -58
)4
)4
54
34
178
THE CHRONICLE
DAILY CLOSING PRICES OF OATS FUTURES IN CHICAGO.
Sat. Mon. Tues. Wed. Thurs. Fri.
473% 47% 47 %, 4834 4934 483%
443% 443% 44% 4534 453% 453%
413% 41 % 41% 4234 423% 42
May delivery In elevator
July delivery in elevator
Sept. delivery in elevator
The following are closing quotations:
FLOUR.
Winter, low grades_ ___$4 40@$4 60 Kansas straights, sack_$5 15@$5 40
Winter patents
5 75@ 6 15 Kansas clears, sacks_ _ _ 5 00® 5 25
5 50Q 5 70 City patents
Winter straights
6 95Q 7 25
Winter clears
5 00® 5 25 Rye flour
3 90® 4 60
Spring patents
5 50Q 6 10 Graham flour
4 50@ _
Spring straights
5 30@ 5 50 Corn meal, kiln dried
3 25® 3 40
Spring clears
4 50@ 4 75
GRAIN.
Wheat, per bushelCorn, per bushelCents.
N. Duluth, No. 1
$1 25
No. 2 mixed
elev.
76
N. Duluth, No. 2
f.o.b. Nominal
No. 2 yellow
1 23
Red winter, No. 2___f.o.b, 1 31
f.o.b. Nominal
No. 2 white
Hard winter, No. 2
1 25% Rye, per bushelOats, per bushelCents.
No. 2 Western_ __ _f.o.b.
84
Natural white
52%@54%
State and Jersey__ _
Nominal
White clipped
53 -Q56
Barley-Malting ____
73 @75
Mixed
50
Feeding, c.1.1.,N.Y.
Ncmidal
1910-Since
Week. Jan. 1.
106
106
15
15
____
_
New York to Jan. 8Great Britain
Other European
China
India
Arabia
Africa
West Indies
Mexico
Central America
South America
Other Countries
Total
1009-Since
Jan. 1.
60
4
2,051
722
Week.
69
4
2,051
722
156
- 156
157
413
35
104
971
243
157
413
35
104
971
243
-- oii
----6777
33
177
465
250
33
177
465
250
2,180
2,180
4,748
4,748
THE DRY GOODS TRADE.
New York, Friday Night, Jan. 14 1910.
Sharp declines in the price of cotton this week were a most
0.000.
important factor in cotton goods markets, both primary
400h4
'
4
"1".SS
and secondary. In the early part of the week numerous
conc.in
buyers were in evidence; they displayed a more active interest in various spring and fall lines and operated steadily
though moderately on staple fabrics; in fact, in many quar0
Co
ters the market showed a healthier tone. The subsequent
violent break in the raw material market, however,
•••4 v.4
30
again made buyers as a rule very cautious and disinclined to
operate extensively for the future, owing no doubt to exOVMN. 0
4NNhO
er
pectations of still lower-priced staple and in turn an easier ten000 1
.. .S.0
. S
dency in the goods markets. The decline in cotton led to
MNNO.
v-I
greater efforts on the part of some buyers to place contracts
er
for forward delivery at their recent bids, but prices generally
er
have been firmly held. In certain instances retailers, urco
gently in need of supplies, have placed fair orders with
jobbers on staple fabrics for prompt and near-by shipment,
30
quite regardless of the cotton market. Jobbers as well as
first hands expect demand will increase as distributors' re.0
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 0
0h444
realize that primary stocks are not large, that mills will not
COMNV
V
•
manufacture goods from high-cost cotton unless merchandise
t".
C Z.O.oSN eror;
1$, 4
01-40030 oo
is contracted for on a profitable basis, and that, to secure the
required deliveries, they must place orders before long; to
30
what extent such considerations will be a factor in the ot
her40.
4eg 4 WNWOer 30
future remains to be seen. In the print cloth market
trading was active in regulars, being stimulated by the ad- 0
.2
cq er
vanced bid of the Borden interests namely, 434c.; this bid,
however, now appears to be withdrawn temporarily, owing
to the freer offerings by mills following the slump in cotton.
In some quarters of the market for men's wear, trading was
more active on staple lines, but in others hesitancy was
noted. In dress goods leading producers continued to
book fair-sized orders on popular-priced fabrics for fall,
while spot and near-by trade was quite brisk.
DOMESTIC COTTON GOODS.-The exports of cotton
'3
goods from this port for the week ending Jan. 8 were 2,180
valued
at $135,885.
packages,
er 410 CO er 02
301- 300.4
VD CO VIN 04
000100;
N00.4
.0..
V014.0
ONNNV
VNNON
40
00 0
3040
MO
NM
0030
SI
4010020
3030303030
0
.
000V
.00
h0;
.0
300.43030
.m.30
000
-41'
Ct
000.N 40
00000 .v
V0
.
0444
. 00
5-30
3
03
4
1.4
oo
coo
0-340
no
nn
4
0
4
00505
30
.0014.0 00
ONNNer
VN
.NON. 400
V.
CON 400 WV
0.000 ere,
0N
0
.'
"
..00°
1
er..00 0.
NW
0303030 30
N
30
co m.00
c000ca.
no
.non.
CD CD
5.40
ION
.
1' 30
ON400 00V
N.000
0300000
. Ott
'p30-4 300 05-4
0100
tOtO
d
V0
0-005
OD
000
00 00 VD OD 00
CD 0 la CO V.
0.
.0
4010
C440:700
COO
°R.
CI
30
000.h 400
00000
V0
.
044
,
0
.
0
.
V
88228
00,
30
50.
40
te.
CO
00
30
53
CLD
00
CO
00
OV
WV
9
oo.c.ico
0
00
M.h0N
0.000
OhNO0
1'
88228
NO "
OW.
cMIN
a00
0
.
,-.
OV
WV
004.h 30-4
00.0
,
14 .4
.N..
4040
30
30
40
00
09
300303030
.n.. 5-
er
c000no
.0V00
0400.
NO
.N40
.
00
WO
'040
0
E PERIOD.
M . .v00co CD
OD
o.
04
.-.0oc
onmto C:7
co
"cicln" N
co
3,311,292 - 16,558
1910 AND 1909.
The value of these New York exports since Jan. 1 has been
$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
For other tables usually given here, see page 149
napped goods generally with jobbers are reported as light.
The visible supply of grain, comprising the stocks in The call for staple prints was fair; prices ruled firm, with a
granary at principal points of accumulation at lake and shortening of discounts noted. A little better demand came
forward for ginghams and colored cottons, but the volume
seaboard ports Jan. 8, 1910, was as follows:
of business done was moderate. Cotton linings ruled dull
AMERICAN GRAIN STOCKS.
Wheat,
Corn,
Oats,
Rye,
Barley, and featureless. Staple drills and sheetings showed a better
bush.
bush.
bush,
bush.
bush. tone
in the demand during the early part of the week, but
New York
698,000
1,355.000
1,213,000
17,000
247,000
"
afloat
240,000
56,000
9,000 the decline in cotton checked same; prices, however, have
Boston
157,000
442,000
6,000
1,000 held firm. Conditions in the export market
remained pracPhiladelphia
362,000
76,000
52,000
1,000
Baltimore
769,000 2,237,000
165,000
tically unchanged, business with the Far East being at a
121,000
1,115,000
New Orleans
63,000
157,000
standstill, and some orders coming forward from some
Galveston
46,000
276,000
Buffalo
3,457,000
103.000
725,000
147,000
919,000 miscellaneous ports, including Manila. The week's sales of
afloat
4,971,000
regulars in the print cloth market are estimated at about
Toledo
801,000
185,000
107,000
19,000
1,000
half a million pieces, mostly for forward delivery, but pur104,000
"
afloat
Detroit
428,000
295,000
104,000
72,000
2,000 chases of wide cloths were moderate; a few days ago regU450,000
afloat
lars were advanced to 43ic., but 4 8c. now probably repre3,155,000 2,256,000 2,885,000
Chicago
69,000
347,000
Milwaukee
76,000
561,000
48,000
33,000 sents the market more accurately; standard wide cloths re2.200,000
Duluth
1,182,000
31,000
590,000 main unchanged.
3,245,000
Minneapolis
50,000
1,068,000
255,000
713,000
1,695,000
St. Louis
836,000
177,000
WOOLEN GOODS.-A substantial increase was reported
5,000
76,000
Kansas City
2,787.000
535,000
641,000
in the,demand for staple men's wear worsteds for fall, with
Peoria
14,000
75,000
944,000
4,000
Indianapolis
a comparatively large business put through; the leading
330,000
436,000
146,000
producers' bookings are said to be in excess of orders reTotal Jan. 8 1910___27,077,000 9,406,000 10,367,000
795,000 2,591,000
Total Jan. 1 1910_27,736,000 8,465,000 11,180,000
814.000 2,655,000 ceived during the same period a year ago. A better call was
Total Jan. 9 190950,479,000 7,325,000 10,921.000 1,012.000 4,905.000 also noted for
wool suitings, while the movement of fancy
CANADIAN GRAIN STOCKS.
Corn,
Rye,
Oats,
Wheat,
Barley, woolen overcoatings was well maintained. In the dress
bush,
goods division some of the principal producers have anbush,
bush.
hush.
bush
434,000
Montreal
39,000
301,000
102,000 nounced prices and booked considerable business on staple
2,378,000
Fort William
lines for next fall; additional lines are expected to be opened
160,000
"
afloat
2,237,000.
Port Arthur
next week. Broadcloths, serges and diagonals continued
L462,000
Other Canadian
especially active.
39,000
434,000
Total Jan. 8 IOW__ 8,538,000
102,000
FOREIGN DRY GOODS.-Imported woolen and worsted
35,000
434,000
Total Jan. 1 1910._ 8,963,000
01,000
26,000
189,000
Total Jan. 9 1909___ 6,666,000
79.000 goods were taken somewhat more freely, especially for the
next fall season. Linens were comparatively quiet but
SUMMARY.
Carn,
Wheal,
Rye,
Oats,
Barley, strong; the January white sales were well patronized, but
bush.
bush,
bush.
bush.
bush.
27,077,000 9,406,000 10,367,000
795,000 2,591,000 business was more or less restricted by the limited offerings,
American
39,000
434,000
8,538,000
Canadian
102,000 compared with previous seasons. Trade in burlaps was fair
795,000 2,693,000 for this time of the year, and prices unchanged.
Total Jan. 8 1910._35,615,000 9,445,000 10,801.000
Total Jan. 1 1910__36,699,000 8,500,000 11,614.000
814,000 2,746,000 Importations and Warehouse Withdrawals of Dry
Goods.
Total Jan. 9 1909_57,145,000 7,351,000 11.110,000 1,012,000 4,984,000
CO
30
et,
01
05
10
05
51
0
490N
no
.
P100
nt.noo.
540N o
a
0
2
8
0
0
0
t
40.2
8
8
m
tl,c8Mc.cm
E-0
238Mm
E!
a
I
Er!
TAT AwD CITY
-rentlivri,
News Items.
New York Oity.-Statement of City's Debt as Included in
Mayor's Message.-The following statement of the city's
debt included in 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:
FUNDED DEBT (including Special Revenue Bonds).
Dec. 31 1907. Dec. 31 1908. Dec. 31 1909.
a$735,014,965 x$808,433,984 •$885,638,439
Gross funded debt
Less held by sinking fund_ _ _ _ a197,437,164 x210,421,340 *232,368,060
$537,577,801
Net funded debt
$653,270,379
$598,012,644
a Includes $54,250,000 of General Vund Bonds.
z Includes $68,750,000 of General Fund Bonds.
• Includes $85,500,000 of General Fund Bonds.
TEMPORARY
DEBT.
Revenue Bonds Issued in Anticipation of Taxes.
Dec. 31 '07.
Dec. 31 '08. Dec. 31 '09.
Amounts Outstanding$750,000
$100,000
Revenue Bonds of 1902
1,450,000
$10,000
5,000,000
Revenue Bonds of 1903
1,865,000
2,570,000
1,000,000
Revenue Bonds of 1904
2,700,000
7,400,000
7,000,000
Revenue Bonds of 1905
4,308,000
9,160,000
9,397,210
Revenue Bonds of 1906
6,822,000
13,625,000
31,148,827
Revenue Bonds of 1907
13,441,000
41,241,600
Revenue Bonds of 1908
29,031,290
Revenue Bonds of 1909
•
$53,646,037
$74,006,600
$60,367,290
SUMMARY.
Increase in the year 1908 in net funded
$60,434,843 04
debt
Increase in the year 1908 In temporary
20,360,563 08
debt
Total increase in the year 1908 in net
bonded debt
Increase in the year 1909 in net funded
$55,257,734 85
debt
Decrease In the year 1909 in temporary
13,639,310 00
debt
Net Increase in the year 1909 in net bonded debt ___ _
Total increase for the years 1908 and
$115,692,577 89
1909 in net funded debt
Net increase for the years 1908 and 1909
6,721,253 08
debt
in temporary
$80,795,406 12
41,618,424 85
Increase for the years 1908 and 1909 in net bonded debt $122.413,830 97
Ten per cent of the assessed valuation of real estate subject to taxation
$680,717,970
under assessment rolls for 1909
Gross bonded indebtedness Dee. 31 1909._ _3946,005,720
DeductBonds to be omitted, in accordance with the provisions of the
Constitution, as Interpreted
by the decision of the Court
$142,750,700
of Appeals
Sinking fund holdings for the
redemption of "non-exempt"
229,503,051
bonds
Total deductions from gross bonded indebted3372,253,751
ness •
Net funded indebtedness chargebale against the constitutional margin or borrowing capacity of the City of New
5573,751 978
York Dec. 31 1909
$34,130,248
Net contract liability (estimated)
Net liability for the acquisition of land, including costs, charges and expenses (est.). 23,541,180
189,247
Judgments and open market orders (est.)
Liabilities, other than funded indebtedness, chargeable
against the constitutional margin or borrowing capacity
of the City of New York at Dec. 31 1909
57,860,675
LessCash balances in funds to be deducted in accordance with
the provisions of the Constitution, as interpreted by the
decision of the Court of Appeals
9,658,890
Total net indebtedness chargeable against the constitutional margin or
621,953,763
borrowing capacity of the City of New York at Dec. 31 1909
Margin or borrowing capacity of the City of New York at Dec. 31 1909
$58,764,207
(p• m.)
To the margin or borrowing capacity at Dee. 31 1909
$58,764,207
(p. m.) as per Comptroller's statement
The following items which under the decision of the Court
of Appeals will operate to Increase the margin as of
Jan. 1 1910 (a. m.):
Amount of budget appropriation for 1910Redemption of the city debt(non-exem.) $1,036,530
7,160,615
Installments payable in 1910
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 contracts not registered or certified to by the Comptroller, which, under
the decision of the Court of Appeals are not to be calculated as debt
until certified to by the Comptroller:
Estimated amount of contracts awarded but not certified
$20,487,337
to by the Comptroller
Estimated amount of contracts for which bids have been
711,012
received but no awards made
Estimated amount contracts advertised but bids not yet
1.225,000
received
22,423,348
Leaving an approximate working margin of
We give below the estimated figures for 1910, comparison
being made with both the estimated and final figures for 1909.
Final Rolls
-January Estimate
1909. 1909.
1910.
BoroughsManhattan _ _fOrdinary real estate_ $4,405,601,486 S4,278,621.686 54,262,553,086
25,231,575
34,280.900
17,593,400
1Corporate real estate_
411,844,763
443 756,259
410,296,283
The Bronx_ _JOrdinary real estate.
31, 68,575
29,198,325
1Corporate real estate_ ' 32,100,525
Brooklyn ___JOrdinary real estate_ 1,288,242,90S 1,245,733,730 1,239,724,040
23,523,700
16,109.300
17,551.550
1Corporate real estate.
282,457,155
281,134,445
309:436,405
Queens ____JOrdinary real setate_
12,070,200
10,778,750
11,744,100
1Corporate real estate_
62,321,815
63.186,535
64,329.914
Richmond __JOrdinary real estate_
2,145,650
2,276,550
2,172,600
1Corporate real estate_
$6,511,366,972 $6,280,521,159 $6,257,352,379
Total ordinary real estate
75,825,025
103,619,923
88,820,350
Total corporation real estate__ _ _
Grand total of real estate
$44,538,004
Tentative Figures of Real Estate and Personal Property
Values for 1910.-The Department of Taxes and Assessments
has announced the tentative figures of real estate and personal property values for 1910. The value of real estate is
fixed at $6,600,187,322, an increase of $216,046,238 over the
tentative figures for 1909 and $267,009,518 over the final
assessed value of real estate for that year. In connection
with the figures which have just been given out, it should be
borne in mind that the values are merely tentative and subject to reduction upon complaint of the owners of individual
pieces of property, taxpayers having until March 31 in which
to file their objections. The tentative figures for last year
were reduced more than 50 millions upon such complaints.
$6,600,187,322 86,384,141,084 86,333.177,804
The above does not include corporation franchises and
assessments of tangible property of public service corporations in streets and public places. The assessments for these
are made by the State Board of Assessors and returned to the
Tax 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
81,266,546,159, or $7,260,972 more than the tentative
figures for last year. In order to show the enormous reductions 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 (*):
Ordinary Personal of -Corporation Personal- -Non-Res.Personal.Non-Res. Ordinary. Saxe Law.
Resident.
Estates.
Boroughs. Personal.
$
$
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
*1909.._ A30,646,059 75,212,335 66,565,075 29,555,875 25,328,895 4,894,395
Bronx143,410
1910:_ _ _ 16,473,749 4,086,398 2,382,860
4,568,429 2,928,610
196,200
l909.... 41,971,231
90.410
1,276,060
998.505
*1909._ _ 11,594,696
Brooklyn153,500
1910_ __ A96,462,730 39,166,115 13,439,750 1,061,250
908,800
225,000
1909_ _ _ _192,523,645 39,328,510 12,709,285
598,000
153.500
67,060,580 10,386,300 6,133,810
*1909_ _
Queens23,000
1910____ 22,530,275 4,298,500 1,464,950
20,000
14,915,100 3,538,800 1,970,975
1909_
1,305,350
868,975
•1909_-Richmond
10,000
498,700
1910_ _ _ _ 3,719,000 1,645,500
599,500
1909_ _ _ _ 4,754,600 1,720,750
344,800
857.675
*1909_ _ _ _ 1,950,685
--7,498,875
Total 1910_646,987,076 332,084,323 145,588,060 48,456,260 86.024,045 7,406,395
Total 1909_624,140,438 328,113,384 153,803,770 56,801.800 77,844.540 18581,255
Total 1909.218,750.895 88,750,165 75.188,720 30,244,285 25.328.895 5,047.895
Manhattan.
$
1910 ___ _958.986,472
1909 ____936,405.752
1909 *__332.202.634
$631,612,653
179
THE CHRONICLE
JAN. 15 1910.j
GRAND TOTALS BY BOROUGHS.
Queens. Richmond.
TheBronx. Brooklyn.
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
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.
North Carolina.-Donation 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
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
presented by a Committee of Bondholders whose total
holdings are variously estimated to be between 11 and 12
millions. The bondholders, not having power to sue a
State, have been endeavoring to have a Oster 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
settlement of the entire issue. A portion of the bonds
was offered to the State of New York two years ago but
was refused. See V. 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
taking gifts of claim to be prosecuted against sister States."
The Rhode Island Legislature on May 7 1909 passed an Act
(Chapter 448, Laws of 1909) compelling the Governor to
accept gifts of money, bonds or any other real or personal
property, and when necessary bring suit to establish the
title to the same.
Oklahoma.-Special Session of Legislature.-A call for a
special session of the Legislature was issued by Governor
Haskell on January 12.
Waterloo, Seneca County, N. Y.-Bonds Declared Valid
by Supreme Court.-According to the Rochester "Chronicle"
of January 4 Justice Arthur E. Sutherland of the Supreme
Court decided in favor of the village on Jan. 3 in the suit
which prevented the sale of the $100,000 sewer bonds offered
on Sept. 4 1909. See V. 89, p. 79C.
180
THE CHRONICLE
Bond Proposals and Negotiations this week
be beau as follows:
Alleghany County (P. 0. Sparta), No. Car.-Bond Sale.We are advised that an issue of court-house bonds was sold
on 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.
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 $392,469the price thus being 100.633.
Babylon, Suffolk County, N. Y.-Bond Offering.-Proposals will be received until Jan. 18 for the $8,000 bonds
mentioned in V. 90, p. 63.
Authority, vote of 64 "for" to 48 "against" at an election held Jan. 6.
Interest rate not to exceed 5%. Maturity part yearly beginning 1911.
Beaumont, Tex.-Bond Offering.-Proposals will be received 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 13eaun.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, p. 63, were
awarded to James H. Adams & Co. of Los Angeles at 101.75
-a basis of about 4.359%.
Big Flats, Chemung County, N. Y.-Bond Offering.Proposals will be received until 7 p. m. Jan. 20 by Dr. E. H.
Wakelee, Town Supervisor (P. 0. Big Flats), for $10,155 60
432% coupon highway improvement bonds.
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. 0. 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
called for Jan. 22.
Cumberland (P. 0. Valley Falls), R. 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. 0. Cleveland), Ohio.-Bond Sale.The following bids were received on Jan. 12 for the two issues
of 43% coupon Miles Ave. No. 3 improvement bonds, described in V. 90, p. 124:
Prerns. on
Prems. on
$94,350
$22,000
$b5o,n10.
bonds.
bonds.0
First National Bank. Cleveland
$2,376 00
New First National Bank, Columbus
2,357 00
541 00
Cleveland Trust Co., Cleveland
2,321 00
49
90
28
00
0
4
Hayden, Miller & Co., Cleveland
2,261 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 6
Maturity part of each issue every six months from April 1 1910 to Oct. 1
1919 inclusive.
Des Moines School District (P. 0. 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.-Reports state that the issuance of bonds for a school building
was authorized by a vote of 107 to 1 on Dec. 20 1909.
Denomination $1,000. Date Feb. 1 1910. Interest annually at the
County Treasurer's office. Maturity $2,000 yearly, beginning Feb.11922.
Exeter Union High School District,Tulare County,Cal.Certified check for 10% of amount bid is required.
Broken Arrow, Tulsa County, Okla.-Bond Bids Rejected. Bond Sale.-Reports state that $30,000 6% bonds were
sold on Jan. 4 to the First National Bank of Visalia for
-We are advised that all bids for the $37,000 5% coupon $33,391-the
price thus being 111.303.
water-works bonds described in V. 90, p. 123, were rejected
Authority vote of 110 to 7 (V. 89, p. 1099) at election held in Oct. 1909.
on Jan. 10.
Denomination $1,000. Interest annual. Maturity $2,000 yearly on
Byesville, Guernsey County, Ohio.-Bond Offering.- June 1 from 1914 to 1928 inclusive.
Findlay School District (P. 0. Findlay), Hancock County,
Proposals will be received until 12 m. Jan. 17 by E. E.
Green, Village Clerk, for $25,800 5% coupon street-improve- Ohio.-Bond Election.-We are informed that the election to
vote on the question of issuing the $25,000 school-building
ment assessment bonds.
Authority Section 95a, Municipal Code of 1902. Denominations $500. bonds will be held Jan. 19 and not Jan. 12, as reported in
Date Oct. 1 1909. Interest semi-annually at the Village Treasurer's office.
Maturity part yearly on Oct. 1 from 1910 to 1919 inclusive. Bonds are ex- V. 90, p. 124.
empt from all taxes. Certified check for $1,000, payable to B. F. Lee,
Foss, Washita County, Okla.-Bond Offering.-Proposals
Village Treasurer, is required. Delivery within ten days of award. Purchaser to pay accrued interest.
will be received until 7 p. in. Jan. 17 for $22,000 water-works
Chicago Sanitary District, Ill.-Bond Sale.-The $2,500,- and $7,000 electric-light 6% bonds.
000 4% coupon bonds described in V. 90, p. 63, were disDenomination $1,000. Date Jan. 1 1910. Interest semi-annually in
posed of Jan. 10 at 98.907 to a syndicate composed of the New York City. Maturity Jan. 1 1935. Official notice states that the
never defaulted in payment of its debts: also that there is no lititown
Farwell Trust Co., Hibernian Banking Association, N. W. gationhas
or controversy pending or threatened concerning the validity of
Halsey & Co. and Wm. A. Read & Co., all of Chicago. A these bonds and that no previous issues have ever been contested. Bonded
debt, this issue. Assessed valuation 1909, $264,000. W. J. O'Hara Is
list of the bids received follows:
Town Clerk.
Farwell Trust Co., Hibernian Banking Associationa
fChicago_ _ _ _$2,472,675
Guernsey, Laramie County, Wyo.-Bond Offering.-ProN. W. Halsey & Co., Wm. A. Read & Co
First Trust Fc Savings Bank, Illinois Trust & Savreceived until Jan. 20 (to be opened
ings Bank. A. 13. Leach & Co., Merchants' LoaniChicago____ 2,427,255 posals will be
8 p. In. Jan. 22) by Thos. A. Kind', Town Clerk, for $20,000
& Trust Co., Harris Trust & Savings Bank
Thos. J. Bolger Co., Chicago_ _ $200,000 due 1911, 1912 ec 1929
196,304 water-works bonds at not exceeding 6% interest.
1 250,000 due 1928 & 1929
243,425
150.000 due 1922
48,760
Chicago Title & Trust Co., Chic. 150,000 due 1923
48,690
50,000 due 1924
48,625
50,000 due 1925
48,560
60,933
Well, Roth & Co., Cincinnati__ 162,000 due 1920
61,601
63,000 due 1920
9,862
$10,000, 1927 or 1928 ______ __
Morton D. Cahn, Chicago
Maturity on Dec. 1 as follows: $250,000 in 1911 and $125,000 yearly from
1912 to 1929 inclusive.
Denomination $500. Interest on Jan. 1 and July 1.
5% of amount bid is required.
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. 0. 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
ez Co. of San Francisco at 108.78. The following bids
were received:
Clayton, Jefferson County, N. Y.-Bond Sale.-The
$18,000 4% bridge bonds mentioned in V. 89, p. 1496, have
been sold to the Fast National Bank of Clayton. Denomination $1,000.
Cleveland, °Mo.-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 0/ East Cleveland and Lakewood Proposed.The Cleveland City Council on Jan. 10 adopted a resolution
W. Halsey & Co., San Fr_ $43,512 First National Bank, Rivers_ $42,059
calling on the City Clerk to request Councils of East Cleveland N.W
American Say. Bk., Los An 42,922 C. E. Woodside & Co., Los A. 41,717
and Lakewood to submit the question of annexation to the J. H. Adams & Co., Los An,, 42,710 G. G. Blymyer & Co., San Fr 41,028
Wm. R. Staats Co., Los An 42,268
voters of these villages.
Maturity $5,000 yearly on Dec. 8 rom 1025 to 1932 inclusive.
Bonds Authorized.-On Dec. 20 1909 the City Council
Homerville, Clinch County, Ga.-Bond Election.-Reauthorized the issuance of $275,000 4% coupon waterports state that an election will be held some time this month
works-refunding bonds.
Denomination $1,000. Date Feb. 1 1910. Interest semi-annually at to vote on a proposition to issue $8,000 school-building bonds.
the American Exchange National Bank in New York City, Maturity
Hudson, Columbia County', N. Y.-Bond Offering.-The
March 1 1921.
Coalinga School District, Fresno County, Cal.-Bond Mayor will sell the following 4% coupon or registered bonds
Sale.-On Jan. 4 C. E. Woodside & Co. of Los Angeles were at public auction at 1 p. m. Jan. 17:
public-school refunding bonds. Denomination *1,000. Date
awarded $60,000 6% bonds, it is stated, for $64,100-the $5400 Feb.
1 1910. Maturity Feb. 1 1920.
8,900 judgment refunding bonds. Denomination $1,000, except one bond
price thus being 106.833.
Denomination 11.000. Interest annual.
Dec. 17 from 1910 to 1921 inclusive.
Maturity $5,000 yearly on
Colorado Springs, Col.-Proposed Bond Election.-Denver
papers state that the Park Commission has decided to call a
special election to amend the City Charter so that a vote
maybe taken before the regular election in 1911 on the
of $900. Date Feb. 18 1910. Maturity on Feb. 18 as follows:
$900 In 1911 and $1,000 yearly from 1912 to 1919 inclusive.
• 1
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. Interest 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
THE CHRONICLE
A.N. 15 1910.]
has never defaulted in the payment of any municipal obligations and that
there Is no litigation pending or threatened affecting the validity of the bonds
offered.
181
1926, $8,800 in 1927, 510,400 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 accrued Interest. G. T. Hama is Secretary of Board of Directors.
Huntington, Suffolk County, N. Y.-Bond Offering.Nassau County (P. 0. Mineola), N. Y.-Bonds Refused.Proposals will be received until 2 p. m. Jan. 27 by Edward S. The
$125,000 4% gold coupon road and bridge
Ireland, Town Supervisor (P. 0. Huntington), for $18,000 awarded on Aug. 2 1909 to N. W. Harris & Co. of New bonds
York
5% road-improvement bonds.
City (V. 89, p. 365) have been refused by that firm, there
Authority Section 142, Highway Law. Denomination $1,000. Date being a question as to the county's authority under the
March 1 1910. 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. Certfied Board of Supervisors on Jan. 10 adopted resolutions
approvcheck 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 will appear among the
New Castle, Lawrence County, Pa.-Bond Award Postadvertisements 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
taken.
dated Oct. 19 1909 and duo Oct. 15 1959.
Omaha, Neb.-Bond Offering.-Proposals will be received
Kansas City, Kan.-Bonds Offered by Bankers.-Spitzer
& Co. of Toledo are on the market with $100,000 5% internal- until 3 p. m. Jan. 20 for $179,000 4% coupon improvement
bonds.
improvement bonds.
Denomination $500. Date Nov. 1 1909. Interest Feb. 1 and Aug. 1
Maturity on Aug. 1 as follows:
$10,500 in 1910, $13,000 in 1911, $12,500 in 1912, 510,500 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
at the State Treasurer's office in Topeka.
held April 5 to vote upon a proposition to issue about $2,750,000 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 reported 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, proposals for which were asked until Aug. 2 1909, were solid 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. Denomination $500. Maturity part yearly from 1022 to 1935
inclusive.
5,000 5% lighting bonds awarded at par. Denomination $1,000.
Maturity part yearly from 1911 to 1916 inclusive.
Date Sept. 15 1909. Interest semi-annual.
Mandan, Morton County, No. Dak.-Bond Election.-An
election will be held Jan. 18 to vote 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
Dakota as '
4s.
Milan School District No. 1 (P. 0. Milan), Washtenaw
County, Mich.-Bond Sale.-The $9,000 4% refunding bonds
offered on Dec. 17 1909 and described in V. 89, p. 1555 have
been sold to Elmer Minzey at par. Maturity $900 yearly
from 1910 to 1919 inclusive.
Milford, Seward County, Neb.-Bond Election.-An election will be held Jan. 18 to vote upon propositions to issue
$13,000 water and $7,000 electric light 5% 5-20-year (optional) bonds.
Minneapolis, Minn.-Bond Sale.-The $25,000 4% 30-year
coupon fire-department bonds described in V. 89, p. 1614,
were sold on Jan. 6 to Seasongood & Mayer of Cincinnnti at
101.38 and accrued interest-a basis of about 3.922%.
The following bids were received:
Seasongood & Mayer,
Cincinnati
$25,345 00
Kane & Co., Minneapolis_ 25,282 59
C. E. Denison & Co., Clev. 25,168 00
R. L. Day & Co., Boston_ 25,147 25
E. H. Rollins & S^ns, Chic. 25,144 43
N. W. Halsey & Co.. Chic. 25,140 00
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, 514,000 in 1914, $15,500 in 1915, $16,500 in 1916.
$17,500 in 1917, $23,000 in 1916 and $79,000 in 1919. Certified check on a
national bank for $2,500, payable to the City of Omaha. Is required. Purchaser 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 litigation pending or threatened affecting the validity of this bond
issue. Frank A. Furay is City Treasurer.
Pike County (P. 0. Petersburg), Ind.-Bond Sale.-An
issue of $25,000 4% funding bonds was awarded on Jan. 1 to
J. W. Bruinfield and the First National Bank of Petersburg
at 100.584.
Denomination $5,000. Interest annually on Jai. 1.
yearly on Jan. 1 from 1911 to 1915 inclusive.
Maturity 55.000
Pittsburg, Crawford County, Kans.-Bond Sale.-The
Commerce Trust Co. of Kansas City, Mo., purchased $40,000
432% 30-year park-improvement bonds on Dec. 13 1909 at
101.75-a basis of about 4.395%. Denomination $1,000.
Date Jan. 1 1910. Interest semi-annual.
Pittsfield, Berkshire County, Mass.-Bond Offering.Proposals will be received until 3 p. in. 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.
100,000 water bonds. Date Nov. 1 1909. Maturity 55,000 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
office in Pittsfield or at the City Trust Co. In Boston. Bonds are exempt
from taxation in Massachusetts. They will be certified as to genuineness
by the City Trust Co. of Boston, which wilifurther certify that the legality
of the issue is approved by Storey, Thorndike, Palmer & Thayer of Boston,
a copy of whose opinion will be delivered without charge to the buyer.
Coupon bonds may be exchanged for registered bonds at option of holder.
Rochester, N. Y.-Note Sale.-On Jan. 10 $100,000 local-
improvement and $291,000 tax notes were awarded to
Kountze Bros. of New York City at 4 8% interest. The
following bids were received:
Kountze Bros., New York-$100,000 and $291,000 notes at 4%% interest.
Bond & Goodwin, New York-4% interest and $111 premium.
Goldman, Sachs & Co., Vew York-$100,000 notes at 45i% interest and
$16 50 premium and $291,000 notes at 4 %% interest and $7 50 premium.
Parkinson & Burr, New York-$100,000 notes at 4% interest and $6
premium and $291,000 notes at 4.70 interest and $8 premium.
W. N. Coler & Co., New York-4%% interest.
Alliance Bank, Rochester-$100,000 notes at 5 K% interest.
Genesee Valley Trust Co., Rochester-$100,000 notes at 54% interest.
Rutherford School District (P. 0. Rutherford), N. J.details are at hand relative to the
offering on Jan. 17 of the $86,300 432% coupon bonds
mentioned in V. 90, p. 127. Proposals will be received until 8 p. m. on that day by C. P. Perham, District Clerk.
Bond Offering.-Further
Wells & Dickey Co..
$25,126 76
Minneapolis
Union Invest. Co., Minn_ 25,100 00
Brighton-German Bk., Cin.25,076 00
A. II. Leach & Co., Chic_ 25,027 00
Northwestern Nat. Bank,
Minneapolis
25,000 00
Idaho.-Bond Offering.-Pro-
Denomination $1,000, except one bond of $300. Date Feb. 1 1910. Interest semi-annually at the Rutherford Natio ial Bank. Maturity Feb. 1
1050. Bondi ar, tax-free.
Authority Chapter 12, Title 13, Political Code, as amended by an Act
approved March 13 1909. Denomination $1,000. Date Jan. 1 1910.
Interest semi-annually at the City Treasurer's office or at the Chemical National Bank in New York City. Maturity 20 years, subject to call after 10
years.
Dallas Trust & Savings
Well, Roth & Co., CinBank, Dallas
15.192 00
cinnati
15,152 10
Sutherlin& Co.,Chic. 15,107 00 C. H. Coffin, Chicago
15,151 00
Bond Sale.-An issue of $15,000 5% 20-40-year (optional)
San Angelo, Tom Green County, Tex.-Bids Rejected.Moscow, Latah County,
The following bids, all of which were rejected, were received
will be received up to and including Jan. 20 by J. R. on Jan. 3 for the $15,000 5% 20-40-year (optional) centralStrong, City Clerk, for $16,000 6% gold coupon refunding fire-station bonds described in V. 89, p. 1557.
water-works bonds.
A. J. Hood & Co., Detrolt.$15,206 00 S. A. Kean & Co., Chicago $15,165 00
posals
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. in. on that day by H. M. Ringo, City Clerk.
Denomination $500. Date Jan. 15 1910. Interest June 15 and Dec. 15
at the City Treasurer's office. Maturity on Dec. 15 as follows: $1,500
yearly from 1910 to 1913 inclusive, $2,000 yearly from 1914 to 1018 inclusive, $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.
water-works bonds, which was registered by the State Comptroller on Jan. 3, has been purchased by the State Permanent School Fund at par and accrued interest.
Sidney, Delaware County, N. Y.-Bond Sale.-An issue
of $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:
Douglas Fenwiek & Co., New York
$15 519 00 for 4.35s
Adams & Co., New York
15,517 00 for 4.408
Isaac W. Sherrill, Poughkeepsie
15,505 00 for 4.408
Edmund Seymour & Co.. New York
15,505 50 for 4.508
N. W. Harris & Co., New York
15,518 00 for 4.708
First National Bank, Cleveland
15,507 75 for 4.758
Denomination to suit purchaser. Date, day of issue. Interest March
and September 1. Maturity part yearly on Sept. 1 from 1910 to 1929
inclusive.
4
Nampa & Meridian Irrigation District, Ada and Canyon
Counties, Ida.-Bond Offering.-Proposals will be received
South Newburgh (P. 0. Cleveland), Cuyahoga County,
until 2 p. m. Jan. 17 for $80,000 6% tax-exempt coupon Ohio.-Bond Sale.-The $5,000 5% coupon
Warner Road
canal-lining bonds.
improvement bonds described in V. 89, p. 491, were awarded
Authority, Title 14, Sections 2372 to 2443, Revised Statutes of 1909. on Aug. 30 1909 to the First National
Bank of Cleveland at
Denomination $100 to $1,000. Date Jan. 1 1910. Interest semi-annually
at the Chase National Bank in New York City. Maturity $4,000 in 1921, 102.28. Maturity part yearly on May 15 from 1911 to 1915
$4,800 in 1022, $5,600 in 1923, $6,400 In 1924. $7,200 in 1925, 58,000 in
nclusive.
THE CHRONICLE
182
South Paris, Me.—Bonds Awarded in Part.—Of an issue
of $68,000 4% water-system bonds $20,000 have been awarded 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. 0. Manteca),
San Joaquin County, Cal.—Bonds Voted—Bond 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.
[VoL. Lxxxx.
Troy, N. Y.—Bond Offering.—Proposals will be received
until 11 a. m. Jan. 15 by Hiram W. Gordinier, City Comptroller, for the following registered public-Improvement
bonds: $80,000 4%% bonds of 1908 and $158,372 4% bonds
of 1909.
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
certificates were sold to Kountze Bros. of New York City
at 100.416.
University City (P. 0. 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, fireequipment and bridge bonds.
Denomination $1,000. Date Jan. 1 1910. Interest semi-annually at
the Mechanics-American National 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.
Spring Creek Drainage District (P. 0. joliet), Will
County, rth—Bond Sale.—An issue of $21,530 70 bonds has
Vernon Township, Crawford County, Ohio.—Bond Sale.—
been purchased by property owners in this district.
Hayden, Miller & Co. of Cleveland have purchased $1,500
43'% bonds. Interest semi-annual. Maturity $500 on
Sutter County Levee District No. 1, Cal.—Bond Sale.—It Aug. 1 in each of the years.1911 and 1912 and $500 on Feb. 1
is reported that $81,000 bonds have been disposed of.
1912. These securities take the place of the $12,500 bonds
Tacoma, Wash.—Suburbs Favor Annexation.—At an (V. 89,p.742,) disposed of last September to Hayden, Miller
election held Jan. 8 suburbs of Tacoma having an area of & Co., but which were subsequently refused by them as
105 square miles voted in favor of annexation to that city. being illegal.
It is said that it is planned to annex all the territory between
Walterboro, Oolleton County, So. Can—School Bond Case
Tacoma and Milton, 6 miles east, Puyallup, 9 miles south- Decided by Supreme Court.—The State Supreme Court has
east, Spana.way, 11 miles south, and Steilacoom, 11 miles denied an application for an injunction to restrain the issusouthwest. In December, 6 square miles between Tacoma ance of the $20,000 5% coupon school bonds offered on
and Fern Hill were annexed and it is expected that between Aug. 25 1909. See V. 89, p. 492, for description of these
now and March elections will be called to vote on the annexa- securities.
tion of the incorporated cities of Milton, Puyallup and
Warren, Trumbull County, Ohio.—Bond Election PostSteilacoom. The annexation movement is the result of the poned.—The
election which was to have been held Jan. 15
action of Tacoma Railway & Power Co. in increasing the to vote on the issuance of $250,000 bonds for a municipal
fares outside of the city limits.
water plant (V. 90, p. 129) has been postponed indefinitely.
Washington.—Bond Sale.—On Jan. 3 $200,000 33
4% 20Therms,lito Union School District, *Butte County, Cal.—
Bond Sale.—It is reported that Jas. H. Adams & Co. of San year bonds were disposed of to the State Permanent School
Francisco were awarded the $10,000 5% 1-10-year (serial) Fund.
Waterbury, Conn.—Bond Sale.—The $100,000 4% coupon
gold school bonds offered on Jan. 3 and described in V. 90,
(with privilege of registration) water bonds described in
p. 65. The price paid was 101.65.
NEW LOANS.
NEW LOANS.
NEW LOANS.
$500,000
$1,000,000
$200,000
STATE OF MARYLAND The City of Seattle, Wash. The City of Seattle, Wash.
TREASURY DEPARTMENT.
Annapolis. January 3rd, 1910.
THE STATE ROADS LOAN.
The undersigned, Governor, Comptroller and
Treasurer of the State of Maryland, in pursuance
of an Act of the General Assembly of Maryland of
1908. Chapter 141. will receive proposals for
$1,000,000 Series "C" of the said Loan.
"The State Roads Loan" will be dated February 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,
and the principal will be redeemable at the
pleasure of the State after the first day of February 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
form, with coupons attached.
Said proposals must be delivered, sealed, to
the Treasurer of the State, at Annapolis, ON OR
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, February 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 proposals are invited, may be awarded by said Governor, 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
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 principa
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.
MURRAY VANDIVER,
Treasurer.
ESTABLI8N MD 1586
H. C. Speer & Sons Co.
First Nat Bank Bldg., Chicago
CITY, COUNTY
AND SCHOOL
BONDS
General Municipal Light Extension
Bonds
Sealed proposals will be received by the undersigned until twelve (12) o'clock noon on Saturday,
January 29, 1910. for the purchase of $200,000
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 Ordinance 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 %) per cent per annum, interest payable
semi-annually, and interest coupons for the payment ofsuch interest semi-annually 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 $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 complied with the check shall be forfeited to the City
of Seattle.
All bids will be opened and considered by the
corporate authorities in the office of the City
Comptroller on Saturday, January 29, 1910, at
twelve (12) o'clock noon.
The right is reserved to reject any or all bids.
Further particulars will be given by the undersigned upon application.
Dated Seattle, Washington, December 23, 1909.
H. W. CARROLL,
City Comptroller and ex-officio City Clerk.
Date of first publication December 25, 1909.
General Park Bonds.
Sealed proposals will be received by the undersigned 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 29th day
of December, 1908, under and by virtue of Ordinance No. 19606.
Said 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
(4 A) per cent per annum, interest payable semiannually, and interest coupons for the payment of
such interest semi-annually 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 Comptroller on Saturday, January 29, 1910, at twelve
(12) o'clock noon. The right is reserved to rWet
any or all bids.
Further particulars will be given by the undersigned upon application.
Dated Seattle, Washington, December 23,1909.
H. W. CARROLL,
City Comptroller and ex-officio City Clerk.
Date of first publication December 25, 1909.
MUNICIPAL AND RAILROAD
toCIJECEI,JEST •Sz CC).
BONDS
BANKERS
LIST ON APPLICIAT1ON
Municipal and Seasoned
Corporation Bends
SEASONGOOD & MAYER,
Macsaatila Library Building
FREE OF TAX
onianisiATI
til CHESTNUrsr..
PHILADELPHIA, PA.
JOHN H. WATKINS McCOY & COMPANY
Formerly MaoDonald. MsOey & CIL
MUNICIPAL
AND
RAILROAD BONDS
No. 2 WALL STREET, NEW YORE
Municipal and
Corporation Bonds
181 La Salle Street, - Chicago
JAN. 15 1910.1
THE CHRONICLE
V. 89, p. 1616, were awarded on Jan. 10 to Kountze Bros. of
New York City at 100.18 and accrued interest. The following bids were also received:
Biodget,IMerritt & Co., Bos_$100,1441R. L.Day & Co., Boston ..__$100,069
Merrill, Oldham ec Co., Bos_ 100,1391
Maturity $10,000 yearly on Jan. 1 from 1920 to 1929 inclusive.
Waterloo, Blackhawk County,Iowa.-Water Bonds Voted.
-A special election held Jan. 2 resulted in favor of the issuance of bonds for the purchase of the plant of the Waterloo
Water Co. and the extension of the same. The vote, according to local papers, was as follows:
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? Majority 467.
183
Canada,its
• Amherstburg Provinces and Municipalities.
, 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
43'% 30-year electric-light debentures mentioned in V. 90,
p. 66.
Bruce County (P. 0. Walkerton), Ont.-Debentures Proposed.-A meeting of the Council will be held Jan. 26, it is
reported, to consider a by-law providing for the issuance of
$20,000 432% 20-year bridge-rebuilding debentures.
Calgary, Alberta.-Debenture Offering.-The Clerk writes
us that this city has placed the following 43% debentures
on the London market for subscription: $688,000 due in
30 years and $896,200 due in 20 years. The debentures are
dated Jan. 1 1910.
Carberry, Man.-Debenture Offering.-Proposals will be
received until Jan. 31 for $2,980 50 5% local-improvement
debentures.
The above bonds, aggregating $525,000, are being offered
to investors by Reynolds, Watson & Co. of Chicago at prices
netting 43%. The issue is coupon in form and bears 4V2%
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.
The bonds are tax-free in Iowa.
Date March 1 1910. Maturity part yearly for 20 years. Geo. Balfour
Wellsville, Columbiana County, Ohio.-Bond Sale.-The is Secretary-Treasurer.
eight issues of 5% improvement bonds, aggregating $25,Cornwall, Ont.-Debenture Sale.-Wood, Gundy & Co. of
260 40, offered on Jan. 10 and described in V. 90, p. 129, Toronto were recently awarded an issue of
$4,747 43%
were awarded on that day to Weil, Roth & Co. of Cincinnati debentures. Maturity part yearly for 20 years.
at 109.055 and accrued interest. The bids were as follows:
Durham, Ont.-Debentures Voted.-A by-law guaranteeing
Well. Roth & Co., Cino„ _$27,547 75I Ohio Say. & Tr. Co., Tol_ _$27,145 40
First Nat. Bank, Cleve__ 27,467 40 TillotsondcWolcott, Cleve_ 26,961 08 $15,000 debentures of the McGowan Milling Co. was favorSecurity Say. Bk., Toledo 27,392 40 W.R. Todd & Co., Cinc__ 26,699 40 ably voted upon at a recent election.
Hayden, MillerdoCo., Clev. 27,378 40 Parson & Son, Chicago__ 26,530 40
Otis & Hough, Cleveland.. 27,281 40 New First Nat. Bk., Col__ 26,339 40
Edmonton, Alberta.-Debentures Voted.-Bridge debenSeasongood & Mayer, Cln_ 27,192 15 Breed & Harrison, Cincin_ 26,217
20 tures amounting to $246,000 were authorized at a recent
Winfield School District(P. 0. Winfield), Cowley County, election.
Kans.-Bond Sale.-An issue of $74,000 43% 20-year
Elstow, Sask.-Debenture Sale.-The $2,000 6% improveschool-building bonds was sold on Dec. 16 1909 to the ment debentures
Commerce Trust Co. of Kansas City, Mo., at 100.50. De- on Oct. 30 1909 mentioned in V. 89, p. 1373, were awarded
to the Ontario Securities Co. of Toronto at
nomination ;1,000. Date Jan. 1 1910. Interest semi- 102.80. Denomination
$200. Date Jan. 1 1910. Interest
annual.
annual. Maturity 10 years.
Worcester, Mass.-Temporary Loan.-On Jan. 13 $150,000
Galt, Ont.-Debentu
Defeated.-The election held Jan. 3
temporary loan notes, due Oct. 14 1910, were awarded to resulted in the defeatres
the proposition to issue the $3,000
the Suffolk Savings Bank for Seamen and others at 3.88% 43'% 20-year marketofdebentures
mentioned in V. 89,1p.
discount.
1691. The vote was 492 "for" to 801 "against."
NEW LOANS.
NEW LOANS.
NEW LOANS.
$ 1 60,000
City of Beau mont,Texas
$ 1 66,000
Bayou Terre-aux-Boeufs
Drainage District •
$20,000
BOROUGH OF ROCHESTER,
5% BONDS
4%% BONDS
Parish of St. Bernard, January 1st, 1910.
The Board of Commissioners of the Bayou
Terre-aux-Boeufs Drainage District will receive
bids for the purchase of its bond issue of One
Hundred and Sixty-Five Thousand Dollars
($165,000) on or before TUESDAY.FEBRUARY
8TH, 1910, at 12 o'clock noon.
These bonds are in denominations of
Thousand Dollars ($1,000) each, bear Five One
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 Commissioners; the cheek 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 730 P. M. MONDAY. JANUARY 17.
1910, for the purchase of $20,000 of the bonds
of said Borough, bearing interest at 4%%', 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.
5% BONDS
Sealed bids will be received by the City Council
of the City of Beaumont, Texas,from JANUARY
15TH, 1910, to MARCH 1ST, 1910, at 10 a. m.,
for the 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 tile date thereof,
at par and accrued Interest, and bearing Interest
at the rate of 5% per annum, payable semiannually 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 Treasurer, Beaumont, Texas, or at the Hanover
National Bank, Now York City, N. Y., at the
option of the holder.
Each bid must be made on blank form furnished
by the city, and must be accompanied by 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
envelope marked "Bids for City Bonds," and
addressed to J. G. Sutton, City Secretary, Beaumont, Texas.
The bids to be considered must be flied by him
on or before Tuesday, March 1st, 10 a. m., 1910.
The right is reserved by tile city to reject any
and all bids.
J. G. SUTTON,
City Secretary,
City of Beaumont, Tex.
W. A. MACKENZIE & CO.,
Cape May County, N. J.
REFUNDING BONDS.
60 State Street, Boston
Notice 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
toordinance No. 80.
Each 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
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 which is to the beat Interest of the said
Borough of Holly Beach City, N. J.
HARRY S. HEWITT,
Borough Clerk,
• CANADIAN
MUNICIPAL BONDS
PERRY, COFFIN & BHA
Investment Bonds
$73,000
Borough of Holly Beach City,
Beaver Co., Pa.
TORONTO, CANADA
F. WM. KRAFT
LAWYER
Specializing in Examination of
Municipal and Corporation Bonds
1312 FIRST NATIONAL BANK BLDG.;
CHICAGO, ILI.
Charles M. Smith &
Co.
Blodget, Merritt & Co.
CORPORATION AND
BANKERS
• 60 STATE
MUNICIPAL BONDS
STREET, MOSTON
30 PINE STREET, NEW YORK
rum NATIONAL BANK BUILDING
ONLICAGO
STATE, CITY & RAILROAD BONDS
[VoL. Lxxxx.
THE CHRONICLE
184
Ganton School District, Alberta.—Debenture Sale.—An
issue of $1,200 532% 10-year debentures was recently disposed 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.
Gopher Head School District, Alta.—Debenture Sale.—
Debentures amounting to $1,200 and bearing 53% interest
were recently awarded to Wood, Gundy & Co. of Toronto.
Maturity part yearly for 10 years.
Grey County (P. 0. Owen Sound), Ont.—Debentures Proposed.—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: 8200,000 4% 20-year
permanent roadway debentures, $50,000 4% 20-year
police-station debentures and $26,000 VA% 20-year registryoffice debentures.
Kasimir School District No. 1981, Alta.—Debenture Sale.
school-building and equipment
—An issue of $1,500 5
debentures was recently awarded to Brent, Noxon & Co.
of Toronto for $1,522—the price thus being 101.466.
Date Sept. 15 1909. Interest annual.
Maturity part yearly for 10 years.
Lakefield School District, Alberta.—Debenture Sale.—
H. O'Hara & Co. of Toronto have purchased $2,000 532Y0
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.
Lloydminster, 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.
Manitou, Man.—Debenture Offering.—Proposals will be
received until Feb. 1 for $15,500 5% 20-year improvement
debentures. Date Dec. 28 1909. George T. Armstrong is
Village Clerk.
North Toronto, Ont.—Debentures Voted.—The voters of
this city recently authorized the issuance of $5,000 park
debentures.
North Vancouver, B. C.—Price Paid for Debentures.—We
are advised that the price paid for the $128,000 5% 40-year
ferry bonds awarded on Dec. 27 1909 (V. 90, p. 130,) to
Geo. A. Stimson & Co.of Toronto, was $128,350 or 100.273.
Date Nov. 9 1909. Interest semi-annual.
Maturity Nov. 9 1949.
Pelee Township, Ont.—Debenture Offering.—Proposals
will be received until Jan. 22 by Wm. Stewart, Township
Clerk, for $1,681 5% debentures. Maturity part yearly for
20 years.
Port Dover, Ont.—Debentures Voted.—It was decided at a
recent election to issue $10,000 debentures as a loan to an
implement company.
Prescott, Ont.—Debentures Voted.—Sewer-extension debentures, aggregating $5,000, were favorably voted upon at
a recent election.
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 providing 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 43.% 20-year debentures.
Wingham, Ont.—Debentures Voted.—On Jan. 3 this place
voted to issue the following 432% 20-year debentures
mentioned in V. 90, p. 66: $6,000 for water-works and
86,500 for sewers.
MISCELLANEOUS.
ACCOUNTANTS.
L. F. DOMMERICH 86 CO,
NEW YORK
Arthur Young & Co.
Certified Public Accountants
General Offices, 57 Greene Street
(ILLINOIS)
New York, 30 Pine Street
Milwaukee, 633 Wells Bldg
Chicago, 1315 Monadnock Block
Koos.. City, 1106 Commerce Bldg.
SOLICIT ACCOUNTS TO FINANCE
DISCOUNT AND GUARANTEE SALES
CARRY NO.GOODS FOR OWN ACCOUNT
LYBRAND9
ROSS BROS &
Adrian H. Muller & Son,
MONTGOMERY
HUNT, SALTONSTALL & CO.,
AUCTIONEERS.
Regular Weekly Sales
Member. New York Stock Exchange
Investment Securities
STOCKS and BONDS
60 STATE STREET
BOSTON
EVERY WEDNESDAY
Office, No. 55 WILLIAM STREET,
Corner rine Street.
Certified Public Accountants
(Pennsylvania)
Land Title Building
PHILA DELP H IA.
City Investing Bldg., 165 Broadway
NEW YORK.
Union Bank Building
PITTSBURGH.
First Nallonal Bank Bldg.,
(ill ICA Go
JAMES PARK & GO.
CHRTIFIND PUBLIC AOCOUNTANTS
BLACKSTAFF & CO.
INVESTMENTS
1332 Walnut Street
P/31LADELPHIA
THE AMERICAN MFG CO.
MANILA, SISAL AND JUTE
65 Wall Street,
-
SO Pins Strut, -
aank
4
NEW YORK
Telephone 4261 John.
and Trust Company Stocks
NEW YORE AND BkoriELYN
SOUGHT AND SOLD
BIEN, SIITHERLIN & COs I CLINTON GILBERT,
2 WALL ST.: NEW YORK.
517 First Nat.Bank Bldg,CHI CAGO,I LL. I
ALFRED ROSE & CO.,
New York ONATIPIND PUBLIC ACCOUNTANTS
MUNICIPAL BONDS
Tax Essallioi Anywhere la tke United Slaws
Write let Partiorlars
&IIDITOR3 TOR FINANCIAL INSTITII.
TIONS. INDUSTRIAL AND
MINING COMPANIES
Finanelal Statements.
Periodical Audits and A000E61111;
CORDAGE.
LIST OF SPECIALTIES ON REQUEST
WB OWN AND OFFER
Now York,Ohloago, Cincinnati and
London, Zngland.
LOOM IS, CONANT &.CO.
CERTIFIED PUBLIC ACCOUNTANTS
$0 Broad Street, New York
Tel. 4965 Broad.
@FedFRASER